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Long-term Debt | 12 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
Long-term Debt | 6. LONG-TERM DEBT The composition of long-term debt as of September 30 is shown in the following tables.
|  | 2025 |  |  | 2024 |
Spire |  |  |  |  |  |
5.30% Senior Notes, due March 1, 2026 |  | $ | 350.0 |  |  | $ | 350.0 |
3.13% Senior Notes, due September 1, 2026 |  |  | 130.0 |  |  |  | 130.0 |
3.93% Senior Notes, due March 15, 2027 |  |  | 100.0 |  |  |  | 100.0 |
5.80% Senior Notes, due March 15, 2033 |  |  | 150.0 |  |  |  | 150.0 |
4.70% Senior Notes, due August 15, 2044 |  |  | 250.0 |  |  |  | 250.0 |
Total principal of Spire Missouri long-term debt (see below) |  |  | 1,968.0 |  |  |  | 1,818.0 |
Total principal of Spire Alabama long-term debt (see below) |  |  | 715.0 |  |  |  | 750.0 |
Other subsidiaries' long-term debt: |  |  |  |  |  |
5.00% First Mortgage Bonds, due September 30, 2031 |  |  | 42.0 |  |  |  | 42.0 |
2.95% Notes, with annual principal payments through December 2034 |  |  | 104.1 |  |  |  | 111.1 |
5.61% First Mortgage Bonds, due October 15, 2037 |  |  | 30.0 |  |  |  | 30.0 |
3.52% First Mortgage Bonds, due September 30, 2049 |  |  | 40.0 |  |  |  | 40.0 |
Total principal of long-term debt |  |  | 3,879.1 |  |  |  | 3,771.1 |
Less: Unamortized discounts and debt issuance costs |  |  | (22.2 | ) |  |  | (24.7 | )
Less: Current portion |  |  | (487.5 | ) |  |  | (42.0 | )
Long-term debt, excluding current portion |  | $ | 3,369.4 |  |  | $ | 3,704.4 |
Spire Missouri |  |  |  |  |  |
First Mortgage Bonds: |  |  |  |  |  |
3.40% Series, due March 15, 2028 |  | $ | 45.0 |  |  | $ | 45.0 |
7.00% Series, due June 1, 2029 |  |  | 19.3 |  |  |  | 19.3 |
2.84% Series, due November 15, 2029 |  |  | 275.0 |  |  |  | 275.0 |
4.88% Series, due September 15, 2030 |  |  | 90.0 |  |  |  | — |
7.90% Series, due September 15, 2030 |  |  | 30.0 |  |  |  | 30.0 |
5.12% Series, due September 15, 2032 |  |  | 60.0 |  |  |  | — |
3.68% Series, due September 15, 2032 |  |  | 50.0 |  |  |  | 50.0 |
4.80% Series, due February 15, 2033 |  |  | 400.0 |  |  |  | 400.0 |
6.00% Series, due May 1, 2034 |  |  | 99.3 |  |  |  | 99.3 |
5.15% Series, due August 15, 2034 |  |  | 320.0 |  |  |  | 320.0 |
6.15% Series, due June 1, 2036 |  |  | 54.5 |  |  |  | 54.5 |
4.63% Series, due August 15, 2043 |  |  | 99.9 |  |  |  | 99.9 |
4.23% Series, due September 15, 2047 |  |  | 70.0 |  |  |  | 70.0 |
3.30% Series, due June 1, 2051 |  |  | 305.0 |  |  |  | 305.0 |
4.38% Series, due September 15, 2057 |  |  | 50.0 |  |  |  | 50.0 |
Total principal of Spire Missouri long-term debt |  |  | 1,968.0 |  |  |  | 1,818.0 |
Less: Unamortized discounts and debt issuance costs |  |  | (14.4 | ) |  |  | (14.6 | )
Spire Missouri long-term debt, excluding current portion |  | $ | 1,953.6 |  |  | $ | 1,803.4 |
Spire Alabama |  |  |  |  |  |
3.21% Notes, due September 15, 2025 |  | $ | — |  |  | $ | 35.0 |
5.32% Notes, due October 15, 2029 |  |  | 90.0 |  |  |  | 90.0 |
2.88% Notes, due December 1, 2029 |  |  | 100.0 |  |  |  | 100.0 |
2.04% Notes, due December 15, 2030 |  |  | 150.0 |  |  |  | 150.0 |
5.41% Notes, due October 15, 2032 |  |  | 85.0 |  |  |  | 85.0 |
5.90% Notes, due January 15, 2037 |  |  | 45.0 |  |  |  | 45.0 |
4.31% Notes, due December 1, 2045 |  |  | 80.0 |  |  |  | 80.0 |
3.92% Notes, due January 15, 2048 |  |  | 45.0 |  |  |  | 45.0 |
4.64% Notes, due January 15, 2049 |  |  | 90.0 |  |  |  | 90.0 |
4.02% Notes, due January 15, 2058 |  |  | 30.0 |  |  |  | 30.0 |
Total principal of Spire Alabama long-term debt |  |  | 715.0 |  |  |  | 750.0 |
Less: Unamortized discounts and debt issuance costs |  |  | (3.3 | ) |  |  | (3.7 | )
Less: Current portion |  |  | — |  |  |  | (35.0 | )
Spire Alabama long-term debt, excluding current portion |  | $ | 711.7 |  |  | $ | 711.3 |
Maturities of long-term debt for Spire on a consolidated basis, Spire Missouri and Spire Alabama for the five fiscal years after September 30, 2025 are as follows:
|  | 2026 |  |  | 2027 |  |  | 2028 |  |  | 2029 |  |  | 2030 |
Spire |  | $ | 487.5 |  |  | $ | 108.1 |  |  | $ | 53.6 |  |  | $ | 28.5 |  |  | $ | 594.9 |
Spire Missouri |  |  | — |  |  |  | — |  |  |  | 45.0 |  |  |  | 19.3 |  |  |  | 395.0 |
Spire Alabama |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 190.0 |
The long-term debt agreements of Spire, Spire Missouri and Spire Alabama contain customary financial covenants and default provisions. As of September 30, 2025, there were no events of default under these financial covenants. Spire At September 30, 2025, Spire had outstanding principal of long-term debt totaling $3,879.1, of which $1,968.0 was issued by Spire Missouri, $715.0 was issued by Spire Alabama and $1,196.1 was issued by Spire and other subsidiaries. All long-term debt bears fixed rates and is subject to changes in fair value as market interest rates change. However, increases and decreases in fair value would impact earnings and cash flows only if the Company were to reacquire any of these issues in the open market prior to maturity. Under GAAP applicable to the Utilities’ regulated operations, losses or gains on early redemption of long-term debt would typically be deferred as regulatory assets or regulatory liabilities and amortized over a future period. Interest expense shown on Spire’s consolidated statement of income is net of capitalized interest totaling $19.5, $17.0 and $8.6 for the years ended September 30, 2025, 2024 and 2023, respectively. As indicated in Note 5, Shareholders’ Equity, Spire has a shelf registration statement on Form S-3 on file with the SEC for the issuance of equity and debt securities. Spire Missouri At September 30, 2025, Spire Missouri had outstanding principal of long-term debt totaling $1,968.0. All long-term debt bears fixed rates and is subject to changes in fair value as market interest rates change. Interest expense shown on Spire Missouri’s statement of comprehensive income is net of capitalized interest totaling $4.8, $4.6 and $3.1 for the years ended September 30, 2025, 2024 and 2023, respectively. On October 23, 2025, Spire Missouri issued an aggregate principal amount of $200.0 of First Mortgage Bonds. The first tranche consiste d of an aggregate principal amount of $150.0, bearing interest at 4.60% per annum and maturing on September 15, 2030. The second tranche consisted of an aggregate principal amount of $50.0, bears interest at 4.65% per annum and maturing on January 15, 2031. Intere st is payable semi-annually on March 15 and September 15 of each year. The bonds are senior secured indebtedness of Spire Missouri and rank equally with all other existing and future senior secured indebtedness issued by Spire Missouri under its Mortgage and Deed of Trust. The bonds are secured by a first mortgage lien on substantially all the real properties of Spire Missouri, subject to limited exceptions. Spire Missouri used the proceeds for general corporate purposes. As indicated in Note 5, Shareholders’ Equity, Spire Missouri has a shelf registration on Form S-3 on file with the SEC for issuance of equity and debt securities, which expires on May 7, 2028. Effective October 27, 2024, Spire Missouri was authorized by the MoPSC to issue conventional term loans, first mortgage bonds, unsecured debt, preferred stock and common stock in an aggregate amount not to exceed $850.0 any time from that date through December 31, 2027. Under this authorization, through October 23, 2025, Spire Missouri has issued $74.4 of common stock and $350 of first mortgage bonds. Approximately $426.0 remains available for issuance under this authorization. Substantially all of Spire Missouri’s plant is subject to the liens of its first mortgage bonds. The mortgage contains several restrictions on Spire Missouri’s ability to pay cash dividends on its common stock, which are described in Note 5, Shareholders’ Equity. Spire Alabama At September 30, 2025, Spire Alabama had outstanding principal of fixed-rate long-term debt totaling $715.0. All long-term debt bears fixed rates and is subject to changes in fair value as market interest rates change. Interest expense shown on Spire Alabama’s statement of income is net of capitalized interest totaling $4.5, $1.8 and $2.3 for the years ended September 30, 2025, 202 4 and 2023, respectively. Spire Alabama has no standing authority to issue long-term debt and must petition the APSC for each planned issuance.

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