The following presents the carrying values of the major classes of Assets held for sale and Liabilities associated with assets held for sale included in Spire’s Condensed Consolidated Balance Sheets:
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in millions) |
|
Spire Marketing Disposal Group |
|
|
Spire Storage Disposal Group |
|
|
Total |
|
As of March 31, 2026 |
|
|
|
|
|
|
|
|
|
Non-utility property (net of $7.3 and $22.2 accumulated depreciation, respectively) |
|
$ |
0.8 |
|
|
$ |
444.0 |
|
|
$ |
444.8 |
|
Other investments |
|
|
— |
|
|
|
0.3 |
|
|
|
0.3 |
|
Accounts receivable, net |
|
|
85.7 |
|
|
|
8.0 |
|
|
|
93.7 |
|
Inventory |
|
|
13.0 |
|
|
|
2.5 |
|
|
|
15.5 |
|
Prepayments |
|
|
0.8 |
|
|
|
1.1 |
|
|
|
1.9 |
|
Derivative instrument assets |
|
|
85.1 |
|
|
|
— |
|
|
|
85.1 |
|
Other |
|
|
1.3 |
|
|
|
— |
|
|
|
1.3 |
|
Current assets held for sale |
|
|
186.7 |
|
|
|
455.9 |
|
|
|
642.6 |
|
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
|
70.7 |
|
|
|
2.6 |
|
|
|
73.3 |
|
Wages and compensation accrued |
|
|
3.6 |
|
|
|
0.5 |
|
|
|
4.1 |
|
Taxes accrued |
|
|
0.2 |
|
|
|
1.3 |
|
|
|
1.5 |
|
Asset retirement obligations |
|
|
— |
|
|
|
5.7 |
|
|
|
5.7 |
|
Other |
|
|
28.8 |
|
|
|
10.5 |
|
|
|
39.3 |
|
Current liabilities held for sale |
|
$ |
103.3 |
|
|
$ |
20.6 |
|
|
$ |
123.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in millions) |
|
Spire Marketing Disposal Group |
|
|
Spire Storage Disposal Group |
|
|
Total |
|
Year Ended September 30, 2025 |
|
|
|
|
|
|
|
|
|
Non-utility property (net of $7.1 and $15.7 accumulated depreciation, respectively) |
|
$ |
1.0 |
|
|
$ |
441.5 |
|
|
$ |
442.5 |
|
Other non-current assets |
|
|
2.0 |
|
|
|
1.4 |
|
|
|
3.4 |
|
Non-current assets held for sale |
|
|
3.0 |
|
|
|
442.9 |
|
|
|
445.9 |
|
Accounts receivable: |
|
|
|
|
|
|
|
|
|
Accounts receivable, net |
|
|
93.3 |
|
|
|
12.0 |
|
|
|
105.3 |
|
Inventory |
|
|
31.8 |
|
|
|
2.4 |
|
|
|
34.2 |
|
Prepayments |
|
|
0.2 |
|
|
|
1.5 |
|
|
|
1.7 |
|
Derivative instrument assets |
|
|
41.5 |
|
|
|
— |
|
|
|
41.5 |
|
Current assets held for sale |
|
|
166.8 |
|
|
|
15.9 |
|
|
|
182.7 |
|
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
|
85.6 |
|
|
|
6.4 |
|
|
|
92.0 |
|
Wages and compensation accrued |
|
|
4.0 |
|
|
|
0.9 |
|
|
|
4.9 |
|
Deferred income taxes |
|
|
0.5 |
|
|
|
1.0 |
|
|
|
1.5 |
|
Total Other |
|
|
16.7 |
|
|
|
9.1 |
|
|
|
25.8 |
|
Current liabilities held for sale |
|
|
106.8 |
|
|
|
17.4 |
|
|
|
124.2 |
|
Asset retirement obligations |
|
|
— |
|
|
|
5.6 |
|
|
|
5.6 |
|
Deferred Credits and Other Liabilities held for sale |
|
|
1.6 |
|
|
|
0.2 |
|
|
|
1.8 |
|
Non-current liabilities held for sale |
|
$ |
1.6 |
|
|
$ |
5.8 |
|
|
$ |
7.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in millions) |
|
Spire Marketing Disposal Group |
|
|
Spire Storage Disposal Group |
|
|
Total |
|
As of March 31, 2025 |
|
|
|
|
|
|
|
|
|
Non-utility property (net of $6.8 and $9.7 accumulated depreciation, respectively) |
|
$ |
1.6 |
|
|
$ |
433.9 |
|
|
$ |
435.5 |
|
Other non-current assets |
|
|
2.4 |
|
|
|
1.3 |
|
|
|
3.7 |
|
Non-current assets held for sale |
|
|
4.0 |
|
|
|
435.2 |
|
|
|
439.2 |
|
Accounts receivable, net |
|
|
131.3 |
|
|
|
6.9 |
|
|
|
138.2 |
|
Inventory |
|
|
9.1 |
|
|
|
5.0 |
|
|
|
14.1 |
|
Prepayments |
|
|
0.5 |
|
|
|
2.2 |
|
|
|
2.7 |
|
Derivative instrument assets |
|
|
45.8 |
|
|
|
0.1 |
|
|
|
45.9 |
|
Current assets held for sale |
|
|
186.7 |
|
|
|
14.2 |
|
|
|
200.9 |
|
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
|
111.1 |
|
|
|
11.3 |
|
|
|
122.4 |
|
Wages and compensation accrued |
|
|
3.4 |
|
|
|
0.7 |
|
|
|
4.1 |
|
Deferred income taxes |
|
|
0.2 |
|
|
|
0.5 |
|
|
|
0.7 |
|
Total Other |
|
|
38.0 |
|
|
|
14.1 |
|
|
|
52.1 |
|
Current liabilities held for sale |
|
|
152.7 |
|
|
|
26.6 |
|
|
|
179.3 |
|
Asset retirement obligations |
|
|
— |
|
|
|
5.5 |
|
|
|
5.5 |
|
Deferred Credits and Other Liabilities held for sale |
|
|
2.2 |
|
|
|
0.2 |
|
|
|
2.4 |
|
Non-current liabilities held for sale |
|
$ |
2.2 |
|
|
$ |
5.7 |
|
|
$ |
7.9 |
|
The following table presents the results of the Spire Marketing and Spire Storage Disposal Groups, which are included in Income from Discontinued Operations, net of tax, in Spire's Condensed Consolidated Statements of Operations.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2026 |
|
|
|
|
Six Months Ended
March 31, 2026 |
|
|
|
(Dollars in millions) |
|
Spire Marketing Disposal Group |
|
|
Spire Storage Disposal Group |
|
Total |
|
|
Spire Marketing Disposal Group |
|
|
Spire Storage Disposal Group |
|
Total |
|
Operating Revenues |
|
$ |
159.9 |
|
|
$ |
27.7 |
|
$ |
187.6 |
|
|
$ |
201.0 |
|
|
$ |
50.1 |
|
$ |
251.1 |
|
Operating Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Natural gas |
|
|
83.4 |
|
|
|
— |
|
|
83.4 |
|
|
|
122.3 |
|
|
|
— |
|
|
122.3 |
|
Operation and maintenance |
|
|
6.0 |
|
|
|
6.4 |
|
|
12.4 |
|
|
|
9.1 |
|
|
|
12.6 |
|
|
21.7 |
|
Depreciation and amortization |
|
|
0.1 |
|
|
|
3.1 |
|
|
3.2 |
|
|
|
0.2 |
|
|
|
6.7 |
|
|
6.9 |
|
Taxes, other than income taxes |
|
|
0.5 |
|
|
|
0.9 |
|
|
1.4 |
|
|
|
0.5 |
|
|
|
0.9 |
|
|
1.4 |
|
Total Operating Expenses |
|
|
90.0 |
|
|
|
10.4 |
|
|
100.4 |
|
|
|
132.1 |
|
|
|
20.2 |
|
|
152.3 |
|
Operating Income |
|
|
69.9 |
|
|
|
17.3 |
|
|
87.2 |
|
|
|
68.9 |
|
|
|
29.9 |
|
|
98.8 |
|
Interest Expense, Net |
|
|
— |
|
|
|
1.6 |
|
|
1.6 |
|
|
|
— |
|
|
|
4.0 |
|
|
4.0 |
|
Income Before Income Taxes |
|
|
69.9 |
|
|
|
15.7 |
|
|
85.6 |
|
|
|
68.9 |
|
|
|
25.9 |
|
|
94.8 |
|
Income Tax Expense |
|
|
17.5 |
|
|
|
3.5 |
|
|
21.0 |
|
|
|
17.2 |
|
|
|
5.8 |
|
|
23.0 |
|
Net Income from discontinued operations attributable to Spire Inc. |
|
$ |
52.4 |
|
|
$ |
12.2 |
|
$ |
64.6 |
|
|
$ |
51.7 |
|
|
$ |
20.1 |
|
$ |
71.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2025 |
|
|
|
|
Six Months Ended
March 31, 2025 |
|
|
|
(Dollars in millions) |
|
Spire Marketing Disposal Group |
|
|
Spire Storage Disposal Group |
|
Total |
|
|
Spire Marketing Disposal Group |
|
|
Spire Storage Disposal Group |
|
Total |
|
Operating Revenues |
|
$ |
53.6 |
|
|
$ |
21.4 |
|
$ |
75.0 |
|
|
$ |
86.6 |
|
|
$ |
39.4 |
|
$ |
126.0 |
|
Operating Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Natural gas |
|
|
32.3 |
|
|
|
— |
|
|
32.3 |
|
|
|
56.9 |
|
|
|
— |
|
|
56.9 |
|
Operation and maintenance |
|
|
5.6 |
|
|
|
6.3 |
|
|
11.9 |
|
|
|
8.6 |
|
|
|
14.4 |
|
|
23.0 |
|
Depreciation and amortization |
|
|
0.3 |
|
|
|
1.0 |
|
|
1.3 |
|
|
|
0.7 |
|
|
|
2.0 |
|
|
2.7 |
|
Taxes, other than income taxes |
|
|
0.6 |
|
|
|
0.4 |
|
|
1.0 |
|
|
|
0.5 |
|
|
|
0.5 |
|
|
1.0 |
|
Total Operating Expenses |
|
|
38.8 |
|
|
|
7.7 |
|
|
46.5 |
|
|
|
66.7 |
|
|
|
16.9 |
|
|
83.6 |
|
Operating Income |
|
|
14.8 |
|
|
|
13.7 |
|
|
28.5 |
|
|
|
19.9 |
|
|
|
22.5 |
|
|
42.4 |
|
Interest Expense, Net |
|
|
— |
|
|
|
2.1 |
|
|
2.1 |
|
|
|
- |
|
|
|
3.9 |
|
|
3.9 |
|
Income Before Income Taxes |
|
|
14.8 |
|
|
|
11.6 |
|
|
26.4 |
|
|
|
19.9 |
|
|
|
18.6 |
|
|
38.5 |
|
Income Tax Expense |
|
|
3.7 |
|
|
|
2.7 |
|
|
6.4 |
|
|
|
5.0 |
|
|
|
4.3 |
|
|
9.3 |
|
Net Income from discontinued operations attributable to Spire Inc. |
|
$ |
11.1 |
|
|
$ |
8.9 |
|
$ |
20.0 |
|
|
$ |
14.9 |
|
|
$ |
14.3 |
|
$ |
29.2 |
|
Spire has elected not to separately disclose discontinued operations on Spire’s Condensed Consolidated Statements of Cash Flows. The following table summarizes Spire’s cash flows from discontinued operations related to the Spire Marketing and Spire Storage Disposal Groups:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended March 31, 2026 |
|
|
Six Months Ended March 31, 2025 |
|
Cash Flow Summary |
|
Spire Marketing Disposal Group |
|
|
Spire Storage Disposal Group |
|
|
Spire Marketing Disposal Group |
|
|
Spire Storage Disposal Group |
|
Net cash provided by operating activities |
|
$ |
51.2 |
|
|
$ |
38.4 |
|
|
$ |
30.8 |
|
|
$ |
23.4 |
|
Net cash used in investing activities |
|
|
(51.3 |
) |
|
|
(20.1 |
) |
|
|
(30.8 |
) |
|
|
(78.3 |
) |
The following table summarizes the carrying values of the major classes of assets and liabilities of the Spire Mississippi disposal group classified as held for sale in Spire's Condensed Consolidated Statements of Operations:
|
|
|
|
|
(Dollars in millions) |
|
Spire Mississippi Disposal Group |
|
ASSETS |
|
|
|
Utility Plant |
|
$ |
94.9 |
|
Less – Accumulated depreciation and amortization |
|
|
(32.5 |
) |
Net Utility Plant |
|
|
62.4 |
|
Accounts receivable (net of $0.1 allowance) |
|
|
4.6 |
|
Materials and supplies |
|
|
0.7 |
|
Regulatory Assets |
|
|
0.8 |
|
Goodwill (net of $3.9 impairment) |
|
|
14.2 |
|
Current assets held for sale |
|
|
82.7 |
|
|
|
|
|
Accounts payable |
|
|
1.4 |
|
Regulatory liabilities - Current |
|
|
0.1 |
|
Asset retirement obligations |
|
|
3.2 |
|
Regulatory liabilities |
|
|
1.4 |
|
Other |
|
|
4.7 |
|
Current liabilities held for sale |
|
$ |
10.8 |
|
|