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v3.25.3

Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2025
Income Tax Disclosure [Abstract] |
Provision for Income Taxes | The provision for income taxes during the fiscal years ended September 30, 2025, 2024, and 2023 was as follows:
|  | Spire |  |  | Spire Missouri |  |  | Spire Alabama |
|  | 2025 |  |  | 2024 |  |  | 2023 |  |  | 2025 |  |  | 2024 |  |  | 2023 |  |  | 2025 |  |  | 2024 |  |  | 2023 |
Federal: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 1.7 |  |  | $ | 0.2 |  |  | $ | 0.7 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Deferred |  |  | 46.3 |  |  |  | 46.1 |  |  |  | 30.4 |  |  |  | 12.4 |  |  |  | 13.5 |  |  |  | 10.1 |  |  |  | 22.9 |  |  |  | 21.7 |  |  |  | 15.8 |
Investment tax credits |  |  | (0.2 | ) |  |  | (0.2 | ) |  |  | (0.2 | ) |  |  | (0.2 | ) |  |  | (0.2 | ) |  |  | (0.2 | ) |  |  | — |  |  |  | — |  |  |  | — |
State and local: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  |  | 0.7 |  |  |  | 1.5 |  |  |  | 1.2 |  |  |  | 0.2 |  |  |  | 0.9 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Deferred |  |  | 11.2 |  |  |  | 11.1 |  |  |  | 6.7 |  |  |  | 1.4 |  |  |  | 1.5 |  |  |  | 1.7 |  |  |  | 5.5 |  |  |  | 5.2 |  |  |  | 4.5 |
Total income tax expense |  | $ | 59.7 |  |  | $ | 58.7 |  |  | $ | 38.8 |  |  | $ | 13.8 |  |  | $ | 15.7 |  |  | $ | 11.6 |  |  | $ | 28.4 |  |  | $ | 26.9 |  |  | $ | 20.3 |
Effective Income 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 |
|  | 2025 |  |  | 2024 |  |  | 2023 |  |  | 2025 |  |  | 2024 |  |  | 2023 |  |  | 2025 |  |  | 2024 |  |  | 2023 |
Federal income tax statutory rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | %
State and local income taxes, net of federal income tax benefits |  |  | 3.7 |  |  |  | 3.7 |  |  |  | 3.7 |  |  |  | 2.6 |  |  |  | 2.6 |  |  |  | 2.6 |  |  |  | 4.1 |  |  |  | 4.1 |  |  |  | 4.1 |
Certain expenses capitalized on books and deducted on tax return |  |  | (1.1 | ) |  |  | (1.2 | ) |  |  | (1.4 | ) |  |  | (2.5 | ) |  |  | (2.7 | ) |  |  | (2.7 | ) |  |  | — |  |  |  | — |  |  |  | — |
Tax credits * |  |  | (0.8 | ) |  |  | (0.9 | ) |  |  | (3.3 | ) |  |  | (1.1 | ) |  |  | (1.1 | ) |  |  | (4.2 | ) |  |  | (0.3 | ) |  |  | (0.3 | ) |  |  | (1.9 | )
Amortization of excess deferred taxes |  |  | (3.1 | ) |  |  | (3.3 | ) |  |  | (5.1 | ) |  |  | (7.0 | ) |  |  | (7.4 | ) |  |  | (7.7 | ) |  |  | 0.1 |  |  |  | 0.2 |  |  |  | 0.2 |
Taxes related to prior years |  |  | (1.3 | ) |  |  | — |  |  |  | — |  |  |  | (2.9 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other items – net |  |  | (0.4 | ) |  |  | (0.3 | ) |  |  | 0.2 |  |  |  | (0.4 | ) |  |  | (0.7 | ) |  |  | — |  |  |  | 0.1 |  |  |  | 0.1 |  |  |  | 0.1 |
Effective income tax rate |  |  | 18.0 | % |  |  | 19.0 | % |  |  | 15.1 | % |  |  | 9.7 | % |  |  | 11.7 | % |  |  | 9.0 | % |  |  | 25.0 | % |  |  | 25.1 | % |  |  | 23.5 | %
* In 2023, the Company completed a research and development study which encompassed fiscal years 2014 to 2022.
Significant Items Comprising the Net Deferred Tax Liability or Asset | The significant items comprising the net deferred tax liability or asset as of September 30 were as follows:
|  | Spire |  |  | Spire Missouri |  |  | Spire Alabama |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating losses |  | $ | 150.1 |  |  | $ | 182.2 |  |  | $ | 1.5 |  |  | $ | 24.7 |  |  | $ | 146.1 |  |  | $ | 153.0 |
Goodwill |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 29.7 |  |  |  | 44.4 |
Pension and other postretirement benefits |  |  | 52.6 |  |  |  | 58.6 |  |  |  | 36.0 |  |  |  | 39.3 |  |  |  | 14.8 |  |  |  | 17.1 |
Regulatory amount due to customers, net |  |  | 23.9 |  |  |  | 27.1 |  |  |  | 21.4 |  |  |  | 24.5 |  |  |  | — |  |  |  | 2.3 |
Reserves not currently deductible |  |  | 24.9 |  |  |  | 0.5 |  |  |  | — |  |  |  | — |  |  |  | 3.4 |  |  |  | 2.9 |
Other |  |  | 73.5 |  |  |  | 43.3 |  |  |  | 16.7 |  |  |  | 12.3 |  |  |  | 6.0 |  |  |  | 2.1 |
Total deferred tax assets |  |  | 325.0 |  |  |  | 311.7 |  |  |  | 75.6 |  |  |  | 100.8 |  |  |  | 200.0 |  |  |  | 221.8 |
Deferred tax liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Relating to property |  |  | (912.3 | ) |  |  | (842.2 | ) |  |  | (572.6 | ) |  |  | (531.2 | ) |  |  | (238.1 | ) |  |  | (230.0 | )
Regulatory pension and other postretirement benefits |  |  | (54.4 | ) |  |  | (60.8 | ) |  |  | (27.2 | ) |  |  | (33.8 | ) |  |  | (24.0 | ) |  |  | (25.6 | )
Deferred gas costs |  |  | (10.7 | ) |  |  | (19.9 | ) |  |  | (8.2 | ) |  |  | (17.7 | ) |  |  | — |  |  |  | — |
Other *** |  |  | (235.0 | ) |  |  | (197.2 | ) |  |  | (66.3 | ) |  |  | (85.7 | ) |  |  | (2.0 | ) |  |  | (2.1 | )
Total deferred tax liabilities |  |  | (1,212.4 | ) |  |  | (1,120.1 | ) |  |  | (674.3 | ) |  |  | (668.4 | ) |  |  | (264.1 | ) |  |  | (257.7 | )
Net deferred tax (liability) asset |  | $ | (887.4 | ) |  | $ | (808.4 | ) |  | $ | (598.7 | ) |  | $ | (567.6 | ) |  | $ | (64.1 | ) |  | $ | (35.9 | )
*** For Spire, Other consists primarily of goodwill-related liabilities.
Summary of Federal and State Loss and Contribution and Tax Credit Carryforwards |
|  | Spire |  |  | Spire Missouri |  |  | Spire Alabama |
Federal and state loss carryforwards |  | $ | 646.1 |  |  | $ | 9.7 |  |  | $ | 583.3 |
Tax credit carryforwards |  |  | 18.9 |  |  |  | 8.8 |  |  |  | 2.7 |
Schedule of Unrecognized Tax Benefits Roll Forward |
|  | Spire |  |  | Spire Missouri |  |  | Spire Alabama |
|  | 2025 |  |  | 2024 |  |  | 2023 |  |  | 2025 |  |  | 2024 |  |  | 2023 |  |  | 2025 |  |  | 2024 |  |  | 2023 |
Unrecognized tax benefits, beginning of year |  | $ | 26.3 |  |  | $ | 23.8 |  |  | $ | 19.6 |  |  | $ | 25.3 |  |  | $ | 22.9 |  |  | $ | 19.3 |  |  | $ | 0.3 |  |  | $ | 0.3 |  |  | $ | — |
Increases related to tax positions taken in current year |  |  | 0.6 |  |  |  | 2.6 |  |  |  | 4.2 |  |  |  | 0.2 |  |  |  | 2.4 |  |  |  | 3.6 |  |  |  | — |  |  |  | — |  |  |  | 0.3 |
Decreases related to tax positions taken in prior years |  |  | (24.2 | ) |  |  | — |  |  |  | — |  |  |  | (24.2 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Reductions due to lapse of applicable statute of limitations |  |  | — |  |  |  | (0.1 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Unrecognized tax benefits, end of year |  | $ | 2.7 |  |  | $ | 26.3 |  |  | $ | 23.8 |  |  | $ | 1.3 |  |  | $ | 25.3 |  |  | $ | 22.9 |  |  | $ | 0.3 |  |  | $ | 0.3 |  |  | $ | 0.3 |

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