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v3.21.1

Financing (Tables) | 6 Months Ended
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Mar. 31, 2021
Debt Disclosure [Abstract] |
Schedule of Short-term Borrowings | 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 March 31, 2021, $398.1 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 |  |  | Term |  |  | Spire |  |  | Credit |  |  | Spire |  |  | Consol- |
|  | Facility |  |  | Loan |  |  | Program |  |  | Facility |  |  | Loan |  |  | Note |  |  | Facility |  |  | Note |  |  | idated |
Six Months Ended March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average borrowings |  | $ | — |  |  | $ | 63.5 |  |  | $ | 606.9 |  |  | $ | — |  |  | $ | 11.0 |  |  | $ | 360.8 |  |  | $ | — |  |  | $ | 59.6 |  |  | $ | 681.4 |
Lowest borrowings outstanding |  |  | — |  |  |  | — |  |  |  | 403.5 |  |  |  | — |  |  |  | — |  |  |  | 277.2 |  |  |  | — |  |  |  | — |  |  |  | 455.5 |
Highest borrowings outstanding |  |  | — |  |  |  | 150.0 |  |  |  | 775.0 |  |  |  | — |  |  |  | 250.0 |  |  |  | 441.9 |  |  |  | — |  |  |  | 152.2 |  |  |  | 850.5 |
Weighted average interest rate |  | n/a |  |  |  | 1.1 | % |  |  | 0.3 | % |  | n/a |  |  |  | 0.8 | % |  |  | 0.3 | % |  | n/a |  |  |  | 0.2 | % |  |  | 0.4 | %
As of March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings outstanding |  | $ | — |  |  | $ | — |  |  | $ | 403.5 |  |  | $ | — |  |  | $ | 250.0 |  |  | $ | 369.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 653.5 |
Weighted average interest rate |  | n/a |  |  | n/a |  |  |  | 0.2 | % |  | n/a |  |  |  | 0.8 | % |  |  | 0.2 | % |  | n/a |  |  | n/a |  |  |  | 0.4 | %
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 |  |  | n/a |  |  |  | 0.2 | % |  | n/a |  |  |  | 0.2 | % |  |  | 0.6 | %
As of March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings outstanding |  | $ | — |  |  | $ | 150.0 |  |  | $ | 175.5 |  |  | $ | 185.1 |  |  | $ | — |  |  | $ | 39.6 |  |  | $ | 50.0 |  |  | $ | 33.0 |  |  | $ | 560.6 |
Weighted average interest rate |  | n/a |  |  |  | 2.1 | % |  |  | 1.8 | % |  |  | 1.8 | % |  | n/a |  |  |  | 1.9 | % |  |  | 1.9 | % |  |  | 1.9 | % |  |  | 1.9 | %
Summary Capitalized Interest | Interest expense shown on Spire’s consolidated statements of income and Spire Missouri’s statements of comprehensive income is net of the capitalized interest amounts shown in the following table.
|  | Three Months Ended March 31, |  |  | Six Months Ended March 31, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Spire |  | $ | 1.1 |  |  | $ | 1.4 |  |  | $ | 2.0 |  |  | $ | 3.6 |
Spire Missouri |  |  | 0.1 |  |  |  | 0.3 |  |  |  | 0.1 |  |  |  | 0.6 |
Spire Alabama |  |  | 0.7 |  |  |  | 0.4 |  |  |  | 1.3 |  |  |  | 1.0 |
Schedule of Variable Stock Purchase Contract Settlement Rates | Each stock purchase contract obligates the holder to purchase, and Spire to issue and deliver, on March 1, 2024, for a price of fifty dollars in cash, a variable number of shares of its common stock as follows (subject to anti-dilution adjustments).
If the applicable market value* per share of Spire common stock is: |  | Number of shares to be purchased per stock purchase contract is:
Equal to or greater than $78.6906 (“threshold appreciation price”) |  | 0.6354 (“minimum settlement rate”)
Less than $78.6906, but greater than $64.24 |  | $50.00 ÷ applicable market value*
Less than or equal to $64.24 (“reference price”) |  | 0.7783 (“maximum settlement rate”)
*Based on the volume-weighted average price of Spire common stock during the 20 trading days before settlement.

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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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