XML 64 R44.htm IDEA: XBRL DOCUMENT v3.25.3
Segment Information (Tables)
12 Months Ended
Sep. 30, 2025
Segment Reporting Information [Line Items]  
Schedule of Information about Segment Revenue, Segment Expenses and Adjusted Earnings

The following tables present information about Spire’s segment revenue, segment expenses, and Adjusted Earnings.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2025

 

Gas Utility

 

 

Gas Marketing

 

 

Midstream

 

 

Total Reportable Segments

 

 

Other(b)

 

 

Intersegment Eliminations

 

 

Consolidated

 

Revenues from external customers

 

$

2,207.5

 

 

$

157.2

 

 

$

109.2

 

 

$

2,473.9

 

 

$

2.5

 

 

$

 

 

$

2,476.4

 

Intersegment revenues

 

 

0.1

 

 

 

-

 

 

 

46.3

 

 

 

46.4

 

 

 

 

 

 

(46.4

)

 

 

-

 

Total Operating Revenues

 

 

2,207.6

 

 

 

157.2

 

 

 

155.5

 

 

 

2,520.3

 

 

 

2.5

 

 

 

(46.4

)

 

 

2,476.4

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Significant segment expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Cost of gas sold, incl. gross receipts taxes

 

 

970.9

 

 

 

93.7

 

 

 

3.0

 

 

 

1,067.6

 

 

 

 

 

 

(46.4

)

 

 

1,021.2

 

  Operation and maintenance expense

 

 

467.1

 

 

 

19.4

 

 

 

45.3

 

 

 

531.8

 

 

 

10.3

 

 

 

 

 

 

542.1

 

Depreciation and amortization
   expense

 

 

277.6

 

 

 

1.0

 

 

 

19.2

 

 

 

297.8

 

 

 

0.4

 

 

 

 

 

 

298.2

 

Interest expense

 

 

137.1

 

 

 

 

 

 

11.6

 

 

 

148.7

 

 

 

55.4

 

 

 

 

 

 

204.1

 

Income tax expense (benefit)

 

 

47.4

 

 

 

11.1

 

 

 

15.7

 

 

 

74.2

 

 

 

(14.5

)

 

 

 

 

 

59.7

 

Other segment items (a)

 

 

76.1

 

 

 

6.1

 

 

 

4.4

 

 

 

86.6

 

 

 

(11.0

)

 

 

 

 

 

75.6

 

Adjusted earnings (loss) [Non-GAAP]

 

$

231.4

 

 

$

25.9

 

 

$

56.3

 

 

$

313.6

 

 

$

(38.1

)

 

$

-

 

 

$

275.5

 

Capital expenditures

 

 

816.8

 

 

 

0.1

 

 

 

106.8

 

 

 

923.7

 

 

 

(1.3

)

 

 

 

 

 

922.4

 

 

2024

 

Gas Utility

 

 

Gas Marketing

 

 

Midstream

 

 

Total Reportable Segments

 

 

Other(b)

 

 

Intersegment Eliminations

 

 

Consolidated

 

Revenues from external customers

 

$

2,436.2

 

 

$

99.2

 

 

$

56.9

 

 

$

2,592.3

 

 

$

0.7

 

 

$

 

 

$

2,593.0

 

Intersegment revenues

 

 

1.7

 

 

 

 

 

 

43.8

 

 

 

45.5

 

 

 

-

 

 

 

(45.5

)

 

 

-

 

Total Operating Revenues

 

 

2,437.9

 

 

 

99.2

 

 

 

100.7

 

 

 

2,637.8

 

 

 

0.7

 

 

 

(45.5

)

 

 

2,593.0

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Significant segment expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Cost of gas sold, incl. gross receipts taxes

 

 

1,238.7

 

 

 

37.1

 

 

 

1.1

 

 

 

1,276.9

 

 

 

0.1

 

 

 

(45.5

)

 

 

1,231.5

 

  Operation and maintenance expense

 

 

452.8

 

 

 

18.2

 

 

 

34.7

 

 

 

505.7

 

 

 

1.7

 

 

 

 

 

 

507.4

 

Depreciation and amortization
   expense

 

 

263.6

 

 

 

1.5

 

 

 

12.8

 

 

 

277.9

 

 

 

0.5

 

 

 

 

 

 

278.4

 

Interest expense

 

 

147.3

 

 

 

 

 

 

7.0

 

 

 

154.3

 

 

 

46.8

 

 

 

 

 

 

201.1

 

Income tax expense (benefit)

 

 

48.0

 

 

 

10.8

 

 

 

9.6

 

 

 

68.4

 

 

 

(9.7

)

 

 

 

 

 

58.7

 

Other segment items (a)

 

 

66.7

 

 

 

8.2

 

 

 

2.0

 

 

 

76.9

 

 

 

(8.4

)

 

 

 

 

 

68.5

 

Adjusted earnings (loss) [Non-GAAP]

 

$

220.8

 

 

$

23.4

 

 

$

33.5

 

 

$

277.7

 

 

$

(30.3

)

 

$

-

 

 

$

247.4

 

Capital expenditures

 

 

691.1

 

 

 

0.1

 

 

 

171.3

 

 

 

862.5

 

 

 

(1.2

)

 

 

 

 

 

861.3

 

 

2023

 

Gas Utility

 

 

Gas Marketing

 

 

Midstream

 

 

Total Reportable Segments

 

 

Other(b)

 

 

Intersegment Eliminations

 

 

Consolidated

 

Revenues from external customers

 

$

2,456.6

 

 

$

179.1

 

 

$

29.9

 

 

$

2,665.6

 

 

$

0.7

 

 

$

 

 

$

2,666.3

 

Intersegment revenues

 

 

0.3

 

 

 

 

 

 

36.2

 

 

 

36.5

 

 

 

 

 

 

(36.5

)

 

 

-

 

Total Operating Revenues

 

 

2,456.9

 

 

 

179.1

 

 

 

66.1

 

 

 

2,702.1

 

 

 

0.7

 

 

 

(36.5

)

 

 

2,666.3

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Significant segment expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Cost of gas sold, incl. gross receipts taxes

 

 

1,321.1

 

 

 

108.0

 

 

 

 

 

 

1,429.1

 

 

 

 

 

 

(36.5

)

 

 

1,392.6

 

  Operation and maintenance expense

 

 

461.8

 

 

 

19.4

 

 

 

30.5

 

 

 

511.7

 

 

 

5.9

 

 

 

 

 

 

517.6

 

Depreciation and amortization
   expense

 

 

244.4

 

 

 

1.5

 

 

 

8.4

 

 

 

254.3

 

 

 

0.5

 

 

 

 

 

 

254.8

 

Interest expense

 

 

139.9

 

 

 

 

 

 

8.6

 

 

 

148.5

 

 

 

37.2

 

 

 

 

 

 

185.7

 

Income tax expense (benefit)

 

 

32.7

 

 

 

12.8

 

 

 

3.8

 

 

 

49.3

 

 

 

(10.5

)

 

 

 

 

 

38.8

 

Other segment items (a)

 

 

56.5

 

 

 

(10.2

)

 

 

0.7

 

 

 

47.0

 

 

 

1.7

 

 

 

 

 

 

48.7

 

Adjusted earnings (loss)

 

$

200.5

 

 

$

47.6

 

 

$

14.1

 

 

$

262.2

 

 

$

(34.1

)

 

 

 

$

228.1

 

Capital expenditures

 

 

588.6

 

 

 

0.4

 

 

 

73.6

 

 

 

662.6

 

 

 

(0.1

)

 

 

 

 

 

662.5

 

 

(a) Other segment items for each reportable segment include fair value and timing adjustments, acquisition and restructuring activities, taxes other than income and gross receipt taxes, and miscellaneous income and deductions.

 

(b) All other components of the Company's consolidated information include Spire's subsidiaries engaged in the operation of a propane pipeline and risk management, among other activities, and unallocated corporate items, including certain debt and associated interest costs.

Reconciliation Of Consolidated Net Economic Earnings To Consolidated Net Income

Reconciliation of Consolidated Net Income to Consolidated Adjusted Earnings

 

2025

 

 

2024

 

 

2023

 

Net Income

 

$

271.7

 

 

$

250.9

 

 

$

217.5

 

Adjustments, pre-tax:

 

 

 

 

 

 

 

 

 

Fair value and timing adjustments

 

 

(10.4

)

 

 

(12.4

)

 

 

11.4

 

Acquisition and restructuring activities

 

 

15.2

 

 

 

7.6

 

 

 

2.5

 

Income tax adjustments

 

 

(1.0

)

 

 

1.3

 

 

 

(3.3

)

Adjusted Earnings

 

$

275.5

 

 

$

247.4

 

 

$

228.1

 

Spire Missouri [Member]  
Segment Reporting Information [Line Items]  
Schedule of Financial Data Related to Gross Receipt Taxes and Capital Expenditures

Financial data related to gross receipt taxes and capital expenditures are as follows:

 

 

 

2025

 

 

2024

 

 

2023

 

Gross Receipt Taxes

 

$

82.9

 

 

$

93.1

 

 

$

96.7

 

Capital Expenditures

 

 

641.2

 

 

 

553.0

 

 

 

447.5

 

Spire Alabama Inc [Member]  
Segment Reporting Information [Line Items]  
Schedule of Financial Data Related to Gross Receipt Taxes and Capital Expenditures

Financial data related to gross receipt taxes and capital expenditures are as follows:

 

 

2025

 

 

2024

 

 

2023

 

Gross Receipt Taxes

 

 

27.9

 

 

 

30.1

 

 

 

29.9

 

Capital Expenditures

 

 

144.2

 

 

 

112.8

 

 

 

117.6