| Fair Value of Financial Instruments |
7. FAIR VALUE OF FINANCIAL INSTRUMENTS The carrying amounts of cash and cash equivalents, notes receivable, and short-term debt approximate fair value due to the short maturity of these instruments. The fair values of long-term debt are estimated based on market prices for similar issues. Refer to Note 8, Fair Value Measurements, for information on financial instruments measured at fair value on a recurring basis. The carrying amounts and estimated fair values of financial instruments not measured at fair value on a recurring basis are shown in the following tables, classified according to the fair value hierarchy. There were no such instruments classified as Level 3 (significant unobservable inputs) as of June 30, 2025, September 30, 2024, and June 30, 2024.
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Classification of Estimated
Fair Value |
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Carrying
Amount |
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Fair
Value |
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Quoted
Prices in
Active
Markets
(Level 1) |
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Significant
Observable
Inputs
(Level 2) |
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Spire |
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As of June 30, 2025 |
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Cash and cash equivalents |
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$ |
13.1 |
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$ |
13.1 |
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$ |
13.1 |
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$ |
— |
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Notes payable |
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1,009.5 |
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1,009.5 |
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— |
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1,009.5 |
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Long-term debt, including current portion |
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3,890.9 |
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3,671.7 |
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— |
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3,671.7 |
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As of September 30, 2024 |
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Cash and cash equivalents |
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$ |
4.5 |
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$ |
4.5 |
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$ |
4.5 |
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$ |
— |
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Notes payable |
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947.0 |
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947.0 |
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— |
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947.0 |
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Long-term debt, including current portion |
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3,746.4 |
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3,600.3 |
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— |
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3,600.3 |
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As of June 30, 2024 |
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Cash and cash equivalents |
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$ |
7.4 |
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$ |
7.4 |
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$ |
7.4 |
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$ |
— |
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Notes payable |
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771.0 |
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771.0 |
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— |
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771.0 |
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Long-term debt, including current portion |
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3,729.3 |
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3,407.1 |
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— |
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3,407.1 |
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Spire Missouri |
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As of June 30, 2025 |
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Notes payable – associated companies |
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$ |
398.7 |
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$ |
398.7 |
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$ |
— |
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$ |
398.7 |
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Long-term debt |
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1,953.2 |
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1,847.4 |
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— |
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1,847.4 |
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As of September 30, 2024 |
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Notes payable – associated companies |
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$ |
495.3 |
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$ |
495.3 |
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$ |
— |
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$ |
495.3 |
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Long-term debt |
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1,803.4 |
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1,736.9 |
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- |
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1,736.9 |
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As of June 30, 2024 |
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Cash and cash equivalents |
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$ |
1.3 |
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$ |
1.3 |
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$ |
1.3 |
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$ |
— |
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Notes payable – associated companies |
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418.3 |
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418.3 |
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- |
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418.3 |
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Long-term debt, including current portion |
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1,786.6 |
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1,626.3 |
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— |
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1,626.3 |
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Spire Alabama |
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As of June 30, 2025 |
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Cash and cash equivalents |
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$ |
1.7 |
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$ |
1.7 |
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$ |
1.7 |
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$ |
— |
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Notes payable – associated companies |
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56.4 |
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56.4 |
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— |
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56.4 |
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Long-term debt, including current portion |
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746.6 |
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695.2 |
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— |
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695.2 |
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As of September 30, 2024 |
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Cash and cash equivalents |
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$ |
1.5 |
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$ |
1.5 |
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$ |
1.5 |
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$ |
— |
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Notes payable – associated companies |
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48.4 |
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48.4 |
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— |
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48.4 |
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Long-term debt, including current portion |
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746.3 |
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711.8 |
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— |
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711.8 |
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As of June 30, 2024 |
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Cash and cash equivalents |
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$ |
2.3 |
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$ |
2.3 |
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$ |
2.3 |
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$ |
— |
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Notes payable – associated companies |
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23.0 |
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23.0 |
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— |
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23.0 |
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Long-term debt |
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746.2 |
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674.4 |
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— |
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674.4 |
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