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v3.20.2

Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2020
Income Tax Disclosure [Abstract] |
Net Provision for Income Tax | The provision (benefit) for income taxes during the fiscal years ended September 30, 2020, 2019, and 2018 was as follows:
|  | Spire |  |  | Spire Missouri |  |  | Spire Alabama |
|  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2020 |  |  | 2019 |  |  | 2018 |
Federal: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 0.4 |  |  | $ | 0.6 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Deferred |  |  | 5.8 |  |  |  | 27.4 |  |  |  | (22.7 | ) |  |  | 14.9 |  |  |  | 11.5 |  |  |  | (26.1 | ) |  |  | 17.4 |  |  |  | 16.3 |  |  |  | 81.5 |
Investment tax credits |  |  | (0.2 | ) |  |  | (0.2 | ) |  |  | (0.2 | ) |  |  | (0.2 | ) |  |  | (0.2 | ) |  |  | (0.2 | ) |  |  | — |  |  |  | — |  |  |  | — |
State and local: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 3.0 |  |  |  | 2.1 |  |  |  | 2.2 |  |  |  | 0.1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Deferred |  |  | 3.4 |  |  |  | 4.6 |  |  |  | (5.8 | ) |  |  | 2.5 |  |  |  | 2.0 |  |  |  | (6.3 | ) |  |  | 4.6 |  |  |  | 4.2 |  |  |  | 0.1 |
Total income tax expense (benefit) |  | $ | 12.4 |  |  | $ | 34.5 |  |  | $ | (26.5 | ) |  | $ | 17.3 |  |  | $ | 13.3 |  |  | $ | (32.6 | ) |  | $ | 22.0 |  |  | $ | 20.5 |  |  | $ | 81.6 |
Effective Income Tax Rate Variation from Stated Tax Rate | The effective income tax rate varied from the federal statutory income tax rate for each year due to the following:
|  | Spire |  |  | Spire Missouri |  |  | Spire Alabama |
|  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2020 |  |  | 2019 |  |  | 2018 |
Federal income tax statutory rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 24.5 | % |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 24.5 | % |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 24.5 | %
State and local income taxes, net of federal income tax benefits |  |  | 9.0 |  |  |  | 3.6 |  |  |  | 3.4 |  |  |  | 2.6 |  |  |  | 2.6 |  |  |  | 3.4 |  |  |  | 4.1 |  |  |  | 4.1 |  |  |  | 3.8 |
Certain expenses capitalized on books and deducted on tax return |  |  | (6.6 | ) |  |  | (3.8 | ) |  |  | (2.3 | ) |  |  | (4.6 | ) |  |  | (6.5 | ) |  |  | (4.6 | ) |  |  | — |  |  |  | — |  |  |  | — |
Taxes related to prior years |  |  | (1.8 | ) |  |  | 0.2 |  |  |  | (0.4 | ) |  |  | (1.4 | ) |  |  | 0.1 |  |  |  | (0.7 | ) |  |  | 0.1 |  |  |  | — |  |  |  | — |
Tax law changes |  |  | — |  |  |  | — |  |  |  | (35.9 | ) |  |  | — |  |  |  | — |  |  |  | (50.3 | ) |  |  | — |  |  |  | — |  |  |  | 70.0 |
Amortization of excess deferred taxes |  |  | (8.3 | ) |  |  | (3.8 | ) |  |  | (1.8 | ) |  |  | (5.7 | ) |  |  | (6.6 | ) |  |  | (3.6 | ) |  |  | — |  |  |  | — |  |  |  | — |
Other items – net * |  |  | (1.0 | ) |  |  | (1.4 | ) |  |  | (1.6 | ) |  |  | (0.2 | ) |  |  | (0.3 | ) |  |  | (2.5 | ) |  |  | (0.1 | ) |  |  | 0.2 |  |  |  | 0.1 |
Effective income tax rate |  |  | 12.3 | % |  |  | 15.8 | % |  |  | (14.1 | )% |  |  | 11.7 | % |  |  | 10.3 | % |  |  | (33.8 | )% |  |  | 25.1 | % |  |  | 25.3 | % |  |  | 98.4 | %
* | Other consists primarily of property adjustments.
Significant Items in Net Deferred Tax Liability | The significant items comprising the net deferred tax liability or asset as of September 30 were as follows:
|  | Spire |  |  | Spire Missouri |  |  | Spire Alabama |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reserves not currently deductible |  | $ | 24.8 |  |  | $ | 31.4 |  |  | $ | 16.7 |  |  | $ | 21.2 |  |  | $ | 5.9 |  |  | $ | 6.2 |
Pension and other postretirement benefits |  |  | 108.3 |  |  |  | 102.7 |  |  |  | 78.5 |  |  |  | 78.7 |  |  |  | — |  |  |  | — |
Goodwill |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 101.3 |  |  |  | 116.8 |
Operating losses |  |  | 170.4 |  |  |  | 162.2 |  |  |  | 36.0 |  |  |  | 51.1 |  |  |  | 111.3 |  |  |  | 94.2 |
Regulatory amount due to customers, net |  |  | 36.1 |  |  |  | 46.5 |  |  |  | 32.3 |  |  |  | 42.7 |  |  |  | — |  |  |  | — |
Other |  |  | 44.7 |  |  |  | 20.0 |  |  |  | — |  |  |  | 1.2 |  |  |  | — |  |  |  | — |
Deferred tax assets |  |  | 384.3 |  |  |  | 362.8 |  |  |  | 163.5 |  |  |  | 194.9 |  |  |  | 218.5 |  |  |  | 217.2 |
Less: Valuation allowance |  |  | (0.9 | ) |  |  | (1.8 | ) |  |  | (0.9 | ) |  |  | (1.8 | ) |  |  | — |  |  |  | — |
Total deferred tax assets |  |  | 383.4 |  |  |  | 361.0 |  |  |  | 162.6 |  |  |  | 193.1 |  |  |  | 218.5 |  |  |  | 217.2 |
Deferred tax liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Relating to property |  |  | (614.0 | ) |  |  | (562.9 | ) |  |  | (427.1 | ) |  |  | (395.1 | ) |  |  | (151.4 | ) |  |  | (129.3 | )
Regulatory pension and other postretirement benefits |  |  | (138.4 | ) |  |  | (135.9 | ) |  |  | (107.4 | ) |  |  | (111.7 | ) |  |  | (3.4 | ) |  |  | (2.0 | )
Other** |  |  | (142.4 | ) |  |  | (113.6 | ) |  |  | (62.8 | ) |  |  | (50.9 | ) |  |  | (4.4 | ) |  |  | (4.6 | )
Total deferred tax liabilities |  |  | (894.8 | ) |  |  | (812.4 | ) |  |  | (597.3 | ) |  |  | (557.7 | ) |  |  | (159.2 | ) |  |  | (135.9 | )
Net deferred tax (liability) asset |  | $ | (511.4 | ) |  | $ | (451.4 | ) |  | $ | (434.7 | ) |  | $ | (364.6 | ) |  | $ | 59.3 |  |  | $ | 81.3 |
** | For Spire, Other consists primarily of goodwill-related liabilities.
. The total adjustments recorded, before reduction for amounts returned to customers, for the year ended September 30, 2018, were as follows:
|  | Spire |  |  | Spire Missouri |  |  | Spire Alabama |
Adjustment to deferred tax liabilities |  | $ | (318.3 | ) |  | $ | (285.3 | ) |  | $ | (61.0 | )
Adjustment to deferred income tax expense |  |  | (75.0 | ) |  |  | (57.0 | ) |  |  | 58.8 |
Adjustment to regulatory assets |  |  | (75.9 | ) |  |  | (78.1 | ) |  |  | 2.2 |
Adjustment to regulatory liabilities |  |  | 167.4 |  |  |  | 150.2 |  |  |  | — |
Unrecognized Tax Benefit Reconciliation | The following table presents a reconciliation of the beginning and ending balances of unrecognized tax benefits:
|  | Spire |  |  | Spire Missouri |
|  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2020 |  |  | 2019 |  |  | 2018 |
Unrecognized tax benefits, beginning of year |  | $ | 10.7 |  |  | $ | 8.1 |  |  | $ | 11.0 |  |  | $ | 10.4 |  |  | $ | 7.8 |  |  | $ | 10.7 |
Decrease related to tax law changes |  |  | — |  |  |  | — |  |  |  | (4.0 | ) |  |  | — |  |  |  | — |  |  |  | (4.0 | )
Increases related to tax positions taken in current year |  |  | 2.6 |  |  |  | 4.5 |  |  |  | 1.2 |  |  |  | 2.6 |  |  |  | 4.5 |  |  |  | 1.1 |
Reductions related to tax positions taken in prior year |  |  | — |  |  |  | (1.9 | ) |  |  | — |  |  |  | — |  |  |  | (1.9 | ) |  |  | — |
Reductions due to lapse of applicable statute of limitations |  |  | (0.1 | ) |  |  | — |  |  |  | (0.1 | ) |  |  | — |  |  |  | — |  |  |  | — |
Unrecognized tax benefits, end of year |  | $ | 13.2 |  |  | $ | 10.7 |  |  | $ | 8.1 |  |  | $ | 13.0 |  |  | $ | 10.4 |  |  | $ | 7.8 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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