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Note 14 - Information by Operating Segment | 12 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | 14. INFORMATION BY OPERATING SEGMENT The Company has three reportable segments: Gas Utility, Gas Marketing, and Midstream. The Gas Utility segment is the aggregation of the operations of the Utilities. The Gas Marketing segment includes the results of Spire Marketing, a subsidiary engaged in the non-regulated marketing of natural gas and related activities, including utilizing natural gas storage contracts for providing natural gas sales. The Midstream segment includes Spire STL Pipeline, a subsidiary of Spire providing interstate natural gas pipeline transportation services, and Spire Storage, a subsidiary of Spire providing interstate natural gas storage services. 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. Accounting policies are described in Note 1, Summary of Significant Accounting Policies. Intersegment transactions include sales of natural gas from Spire Marketing to Spire Missouri and Spire Alabama, sales of natural gas from Spire Missouri to Spire Marketing, sales of natural gas from Spire Alabama to Spire Marketing, propane transportation services provided by Spire NGL Inc. to Spire Missouri, and propane storage services provided by Spire Missouri to Spire NGL Inc. Management evaluates the performance of the operating segments based on the computation of net economic earnings. Net economic earnings exclude from reported net income, as applicable, the after-tax impacts of fair value accounting and timing adjustments associated with energy-related transactions, the impacts of acquisition, divestiture and restructuring activities, and the largely non-cash impacts of other non-recurring or unusual items such as certain regulatory, legislative or GAAP standard-setting actions.
|  | Gas |  |  | Gas |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2023 |  | Utility |  |  | Marketing |  |  | Midstream |  |  | Other |  |  | Eliminations |  |  | Consolidated |
Revenues from external customers |  | $ | 2,456.6 |  |  | $ | 179.1 |  |  | $ | 29.9 |  |  | $ | 0.7 |  |  | $ | — |  |  | $ | 2,666.3 |
Intersegment revenues |  |  | 0.3 |  |  |  | — |  |  |  | 36.2 |  |  |  | 16.0 |  |  |  | (52.5 | ) |  |  | — |
Total Operating Revenues |  |  | 2,456.9 |  |  |  | 179.1 |  |  |  | 66.1 |  |  |  | 16.7 |  |  |  | (52.5 | ) |  |  | 2,666.3 |
Depreciation and amortization expense |  |  | 244.4 |  |  |  | 1.5 |  |  |  | 8.4 |  |  |  | 0.5 |  |  |  | — |  |  |  | 254.8 |
Interest expense |  |  | 139.9 |  |  |  | — |  |  |  | 8.6 |  |  |  | 72.1 |  |  |  | (34.9 | ) |  |  | 185.7 |
Income tax expense (benefit) |  |  | 32.7 |  |  |  | 12.8 |  |  |  | 3.8 |  |  |  | (10.5 | ) |  |  | — |  |  |  | 38.8 |
Net economic earnings (loss) |  |  | 200.5 |  |  |  | 47.6 |  |  |  | 14.1 |  |  |  | (34.1 | ) |  |  | — |  |  |  | 228.1 |
Capital expenditures |  |  | 588.6 |  |  |  | 0.4 |  |  |  | 73.6 |  |  |  | (0.1 | ) |  |  | — |  |  |  | 662.5 |
|  | Gas |  |  | Gas |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2022 |  | Utility |  |  | Marketing |  |  | Midstream |  |  | Other |  |  | Eliminations |  |  | Consolidated |
Revenues from external customers |  | $ | 1,945.6 |  |  | $ | 234.9 |  |  | $ | 17.4 |  |  | $ | 0.6 |  |  | $ | — |  |  | $ | 2,198.5 |
Intersegment revenues |  |  | 0.5 |  |  |  | — |  |  |  | 35.7 |  |  |  | 15.5 |  |  |  | (51.7 | ) |  |  | — |
Total Operating Revenues |  |  | 1,946.1 |  |  |  | 234.9 |  |  |  | 53.1 |  |  |  | 16.1 |  |  |  | (51.7 | ) |  |  | 2,198.5 |
Depreciation and amortization expense |  |  | 227.9 |  |  |  | 1.4 |  |  |  | 7.5 |  |  |  | 0.5 |  |  |  | — |  |  |  | 237.3 |
Interest expense |  |  | 86.4 |  |  |  | — |  |  |  | 4.9 |  |  |  | 37.3 |  |  |  | (8.8 | ) |  |  | 119.8 |
Income tax expense (benefit) |  |  | 49.6 |  |  |  | 11.9 |  |  |  | 4.5 |  |  |  | (7.1 | ) |  |  | — |  |  |  | 58.9 |
Net economic earnings (loss) |  |  | 202.7 |  |  |  | 27.0 |  |  |  | 11.1 |  |  |  | (24.5 | ) |  |  | — |  |  |  | 216.3 |
Capital expenditures |  |  | 528.6 |  |  |  | 0.9 |  |  |  | 22.6 |  |  |  | 0.1 |  |  |  | — |  |  |  | 552.2 |
|  | Gas |  |  | Gas |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2021 |  | Utility |  |  | Marketing |  |  | Midstream |  |  | Other |  |  | Eliminations |  |  | Consolidated |
Revenues from external customers |  | $ | 2,118.2 |  |  | $ | 96.5 |  |  | $ | 19.9 |  |  | $ | 0.9 |  |  | $ | — |  |  | $ | 2,235.5 |
Intersegment revenues |  |  | 1.1 |  |  |  | — |  |  |  | 32.7 |  |  |  | 14.2 |  |  |  | (48.0 | ) |  |  | — |
Total Operating Revenues |  |  | 2,119.3 |  |  |  | 96.5 |  |  |  | 52.6 |  |  |  | 15.1 |  |  |  | (48.0 | ) |  |  | 2,235.5 |
Depreciation and amortization expense |  |  | 204.4 |  |  |  | 1.2 |  |  |  | 6.9 |  |  |  | 0.6 |  |  |  | — |  |  |  | 213.1 |
Interest expense |  |  | 74.7 |  |  |  | — |  |  |  | 4.0 |  |  |  | 29.3 |  |  |  | (1.4 | ) |  |  | 106.6 |
Income tax expense (benefit) |  |  | 56.9 |  |  |  | 13.4 |  |  |  | 4.4 |  |  |  | (6.2 | ) |  |  | — |  |  |  | 68.5 |
Net economic earnings (loss) |  |  | 230.6 |  |  |  | 47.0 |  |  |  | 11.1 |  |  |  | (22.4 | ) |  |  | — |  |  |  | 266.3 |
Capital expenditures |  |  | 590.4 |  |  |  | 0.7 |  |  |  | 33.0 |  |  |  | 0.7 |  |  |  | — |  |  |  | 624.8 |
Total Assets at End of Year |  | 2023 |  |  | 2022 |  |  | 2021 |
Gas Utility |  | $ | 8,486.7 |  |  | $ | 8,042.8 |  |  | $ | 7,615.4 |
Gas Marketing |  |  | 332.0 |  |  |  | 638.7 |  |  |  | 466.1 |
Midstream |  |  | 574.3 |  |  |  | 446.0 |  |  |  | 413.8 |
Other |  |  | 2,533.3 |  |  |  | 2,705.5 |  |  |  | 2,193.3 |
Eliminations |  |  | (1,612.7 | ) |  |  | (1,749.3 | ) |  |  | (1,332.2 | )
Total Assets |  | $ | 10,313.6 |  |  | $ | 10,083.7 |  |  | $ | 9,356.4 |
Reconciliation of Consolidated Net Income to Consolidated Net Economic Earnings |  | 2023 |  |  | 2022 |  |  | 2021 |
Net Income |  | $ | 217.5 |  |  | $ | 220.8 |  |  | $ | 271.7 |
Adjustments, pre-tax: |  |  |  |  |  |  |  |  |  |  |  |
Missouri regulatory adjustments |  |  | — |  |  |  | — |  |  |  | (9.0 | )
Fair value and timing adjustments |  |  | 11.4 |  |  |  | (11.4 | ) |  |  | 3.3 |
Acquisition and divestiture activities |  |  | 2.5 |  |  |  | — |  |  |  | (1.3 | )
Income tax adjustments |  |  | (3.3 | ) |  |  | 6.9 |  |  |  | 1.6 |
Net Economic Earnings |  | $ | 228.1 |  |  | $ | 216.3 |  |  | $ | 266.3 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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