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Notes Payable and Credit Agreements | 12 Months Ended
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Sep. 30, 2020
Short Term Borrowings [Abstract] |
Notes Payable and Credit Agreements | 7. NOTES PAYABLE AND CREDIT AGREEMENTS Spire, Spire Missouri and Spire Alabama have a syndicated revolving credit facility pursuant to a loan agreement with 11 banks, expiring October 31, 2023. The loan agreement has an aggregate credit commitment of $975.0, including sublimits of $300.0 for Spire, $475.0 for Spire Missouri and $200.0 for Spire Alabama. These sublimits may be reallocated from time to time among the three borrowers within the $975.0 aggregate commitment, with commitment fees applied for each borrower relative to its credit rating. Spire may use its line to provide for the funding needs of various subsidiaries. The agreement also contains financial covenants limiting each borrower’s consolidated total debt, including short-term debt, to no more than 70% of its total capitalization. As defined in the line of credit, on September 30, 2020, total debt was less than 60% of total capitalization for each borrower. Spire has a commercial paper program (“CP Program”) pursuant to which it may issue short-term, unsecured commercial paper notes. Amounts available under the CP Program may be borrowed, repaid and re-borrowed from time to time, with the aggregate face or principal amount of the notes outstanding under the CP Program at any time not to exceed $975.0. The notes may have maturities of up to 365 days from date of issue. On March 26, 2020, Spire entered into a new loan agreement with two banks providing for a term loan of $150.0, which was immediately fully funded and matures on March 25, 2021, subject to optional prepayment by Spire. The term loan bears interest at the LIBOR Rate (as defined in the loan agreement) plus 0.85% per annum. Proceeds were used for working capital and general corporate purposes. Information about Spire’s consolidated short-term borrowings and about Spire Missouri’s and Spire Alabama’s borrowings from Spire is presented in the following table. As of September 30, 2020, $449.8 of Spire’s short-term borrowings were used to support lending to the Utilities.
|  | Spire (Parent Only) |  |  | Spire Missouri |  |  | Spire Alabama |  |  | Spire |
|  | Credit |  |  | Term |  |  | CP |  |  | Credit |  |  | Spire |  |  | Credit |  |  | Spire |  |  | Consol- |
|  | Facility |  |  | Loan |  |  | Program |  |  | Facility |  |  | Note |  |  | Facility |  |  | Note |  |  | idated |
Year Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average borrowings |  | $ | 0.1 |  |  | $ | 77.5 |  |  | $ | 476.1 |  |  | $ | 17.9 |  |  | $ | 242.0 |  |  | $ | 4.6 |  |  | $ | 89.0 |  |  | $ | 576.2 |
Lowest borrowings outstanding |  |  | — |  |  |  | — |  |  |  | 73.5 |  |  |  | — |  |  |  | 16.0 |  |  |  | — |  |  |  | 18.5 |  |  |  | 432.6 |
Highest borrowings outstanding |  |  | 23.1 |  |  |  | 150.0 |  |  |  | 856.6 |  |  |  | 185.1 |  |  |  | 429.5 |  |  |  | 50.0 |  |  |  | 161.3 |  |  |  | 856.6 |
Weighted average interest rate |  |  | 1.9 | % |  |  | 1.6 | % |  |  | 1.7 | % |  |  | 1.9 | % |  |  | 1.5 | % |  |  | 1.9 | % |  |  | 1.4 | % |  |  | 1.7 | %
As of September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings outstanding |  | $ | — |  |  | $ | 150.0 |  |  | $ | 498.0 |  |  | $ | — |  |  | $ | 301.2 |  |  | $ | — |  |  | $ | 121.3 |  |  | $ | 648.0 |
Weighted average interest rate |  | n/a |  |  |  | 1.1 | % |  |  | 0.2 | % |  | n/a |  |  |  | 0.2 | % |  | n/a |  |  |  | 0.2 | % |  |  | 0.6 | %
As of September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings outstanding |  | $ | — |  |  | $ | — |  |  | $ | 743.2 |  |  | $ | — |  |  | $ | 386.4 |  |  | $ | — |  |  | $ | 128.7 |  |  | $ | 743.2 |
Weighted average interest rate |  | n/a |  |  | n/a |  |  |  | 2.3 | % |  | n/a |  |  |  | 2.3 | % |  | n/a |  |  |  | 2.3 | % |  |  | 2.3 | %

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- References No definition available. + Details
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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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