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FAIR VALUE MEASUREMENTS
6 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS
The information presented below categorizes the assets and liabilities in the balance sheets that are accounted for at fair value on a recurring basis in periods subsequent to initial recognition.
The mutual funds included in Level 1 are valued based on exchange-quoted market prices of individual securities. The mutual funds included in Level 2 are valued based on the closing net asset value per unit.
Derivative instruments included in Level 1 are valued using quoted market prices on the New York Mercantile Exchange (NYMEX) or the Intercontinental Exchange (ICE). Derivative instruments classified in Level 2 include physical commodity derivatives that are valued using broker or dealer quotation services whose prices are derived principally from, or are corroborated by, observable market inputs. Also included in Level 2 are certain derivative instruments that have values that are similar to, and correlate with, quoted prices for exchange-traded instruments in active markets and derivative instruments with settlement dates more than one year into the future. Derivative instruments included in Level 3 are valued using generally unobservable inputs that are based upon the best information available and reflect management’s assumptions about how market participants would price the asset or liability. The Level 3 balances as of March 31, 2018, September 30, 2017, and March 31, 2017, consisted of gas commodity contracts. The Company’s and the Utilities’ policy is to recognize transfers between the levels of the fair value hierarchy, if any, as of the beginning of the interim reporting period in which circumstances change or events occur to cause the transfer.
The mutual funds are included in “Other Investments” on the Company’s balance sheets and in “Other Property and Investments” on Spire Missouri’s balance sheets. Derivative assets and liabilities, including receivables and payables associated with cash margin requirements, are presented net in the balance sheets when a legally enforceable netting agreement exists between the Company, Spire Missouri, or Spire Alabama and the counterparty to a derivative contract.
Spire
 
Quoted
Prices in
Active
Markets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Effects of Netting and Cash Margin Receivables
/Payables
 
Total
As of March 31, 2018
 
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
 
 
 
Gas Utility:
 
 
 
 
 
 
 
 
 
US stock/bond mutual funds
$
19.1

 
$
4.1

 
$

 
$

 
$
23.2

NYMEX/ICE natural gas contracts
0.1

 

 

 
(0.1
)
 

Gas Marketing:
 
 
 
 
 
 
 
 
 
NYMEX/ICE natural gas contracts
0.2

 
3.3

 

 
(3.5
)
 

Natural gas commodity contracts

 
7.4

 
0.1

 
(2.1
)
 
5.4

Other:
 
 
 
 
 
 
 
 
 
Interest rate swaps

 
1.0

 

 

 
1.0

Total
$
19.4

 
$
15.8

 
$
0.1

 
$
(5.7
)
 
$
29.6

LIABILITIES
 
 
 
 
 
 
 
 
 
Gas Utility:
 
 
 
 
 
 
 
 
 
NYMEX/ICE natural gas contracts
$
0.2

 
$

 
$

 
$
(0.2
)
 
$

Gas Marketing:
 
 
 
 
 
 
 
 
 
NYMEX/ICE natural gas contracts
0.6

 
9.8

 

 
(10.4
)
 

Natural gas commodity contracts

 
14.3

 

 
(2.1
)
 
12.2

Total
$
0.8

 
$
24.1

 
$

 
$
(12.7
)
 
$
12.2


 
Quoted
Prices in
Active
Markets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Effects of Netting and Cash Margin Receivables
/Payables
 
Total
As of September 30, 2017
 
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
 
 
 
Gas Utility:
 
 
 
 
 
 
 
 
 
US stock/bond mutual funds
$
18.3

 
$
4.1

 
$

 
$

 
$
22.4

NYMEX/ICE natural gas contracts
3.4

 

 

 
(3.4
)
 

NYMEX gasoline and heating oil contracts
0.1

 

 

 

 
0.1

Gas Marketing:
 
 
 
 
 
 
 
 
 
NYMEX/ICE natural gas contracts
1.3

 
1.3

 

 
(2.1
)
 
0.5

Natural gas commodity contracts

 
6.8

 
0.1

 
(1.2
)
 
5.7

Total
$
23.1

 
$
12.2

 
$
0.1

 
$
(6.7
)
 
$
28.7

LIABILITIES
 
 
 
 
 
 
 
 
 
Gas Utility:
 
 
 
 
 
 
 
 
 
NYMEX/ICE natural gas contracts
$
1.9

 
$

 
$

 
$
(1.9
)
 
$

Gas Marketing:
 
 
 
 
 
 
 
 
 
NYMEX/ICE natural gas contracts
1.8

 
0.3

 

 
(2.1
)
 

Natural gas commodity contracts

 
8.4

 

 
(1.2
)
 
7.2

Other:
 
 
 
 
 
 
 
 
 
Interest rate swaps

 
0.9

 

 

 
0.9

Total
$
3.7

 
$
9.6

 
$

 
$
(5.2
)
 
$
8.1

 
 
 
 
 
 
 
 
 
 
As of March 31, 2017
 
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
 
 
 
Gas Utility:
 
 
 
 
 
 
 
 
 
US stock/bond mutual funds
$
17.7

 
$
4.1

 
$

 
$

 
$
21.8

NYMEX/ICE natural gas contracts
4.5

 

 

 
(1.8
)
 
2.7

NYMEX gasoline and heating oil contracts
0.2

 

 

 

 
0.2

Gas Marketing:
 
 
 
 
 
 
 
 
 
NYMEX/ICE natural gas contracts
1.0

 
3.6

 

 
(4.4
)
 
0.2

Natural gas commodity contracts

 
6.2

 
0.2

 
(0.5
)
 
5.9

Other:
 
 
 
 
 
 
 
 
 
Interest rate swaps

 
0.2

 

 

 
0.2

Total
$
23.4

 
$
14.1

 
$
0.2

 
$
(6.7
)
 
$
31.0

LIABILITIES
 
 
 
 
 
 
 
 
 
Gas Utility:
 
 
 
 
 
 
 
 
 
NYMEX/ICE natural gas contracts
$
0.5

 
$

 
$

 
$
(0.5
)
 
$

Gas Marketing:
 
 
 
 
 
 
 
 
 
NYMEX/ICE natural gas contracts
2.1

 
3.9

 

 
(6.0
)
 

Natural gas commodity contracts

 
6.5

 

 
(0.5
)
 
6.0

Total
$
2.6

 
$
10.4

 
$

 
$
(7.0
)
 
$
6.0


Spire Missouri
 
Quoted
Prices in
Active
Markets
(Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
 
Effects of Netting and Cash Margin Receivables
/Payables
 
Total
As of March 31, 2018
 
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
 
 
 
US stock/bond mutual funds
$
19.1

 
$
4.1

 
$

 
$

 
$
23.2

NYMEX/ICE natural gas contracts
0.1

 

 

 
(0.1
)
 

Total
$
19.2

 
$
4.1

 
$

 
$
(0.1
)
 
$
23.2

LIABILITIES
 
 
 
 
 
 
 
 
 
NYMEX/ICE natural gas contracts
$
0.2

 
$

 
$

 
$
(0.2
)
 
$

Total
$
0.2

 
$

 
$

 
$
(0.2
)
 
$

As of September 30, 2017
 
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
 
 
 
US stock/bond mutual funds
$
18.3

 
$
4.1

 
$

 
$

 
$
22.4

NYMEX/ICE natural gas contracts
3.4

 

 

 
(3.4
)
 

NYMEX gasoline and heating oil contracts
0.1

 

 

 

 
0.1

Total
$
21.8

 
$
4.1

 
$

 
$
(3.4
)
 
$
22.5

LIABILITIES
 
 
 
 
 
 
 
 
 
NYMEX/ICE natural gas contracts
$
1.9

 
$

 
$

 
$
(1.9
)
 
$

Total
$
1.9

 
$

 
$

 
$
(1.9
)
 
$

As of March 31, 2017
 
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
 
 
 
US stock/bond mutual funds
$
17.7

 
$
4.1

 
$

 
$

 
$
21.8

NYMEX/ICE natural gas contracts
4.5

 

 

 
(1.8
)
 
2.7

NYMEX gasoline and heating oil contracts
0.2

 

 

 

 
0.2

Total
$
22.4

 
$
4.1

 
$

 
$
(1.8
)
 
$
24.7

LIABILITIES
 
 
 
 
 
 
 
 
 
NYMEX/ICE natural gas contracts
$
0.5

 
$

 
$

 
$
(0.5
)
 
$

Total
$
0.5

 
$

 
$

 
$
(0.5
)
 
$


Spire Alabama
Spire Alabama occasionally utilizes a gasoline derivative program to stabilize the cost of fuel used in operations. As of March 31, 2018, Spire Alabama had no outstanding derivative contracts. As of September 30, 2017, and March 31, 2017, the fair value of related gasoline contracts was not significant.