Fair Value of Financial Instruments

6 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

6. FAIR VALUE OF FINANCIAL INSTRUMENTS

The carrying amounts of cash and cash equivalents 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 7, 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 March 31, 2020, September 30, 2019, and March 31, 2019.

					Classification of Estimated Fair Value
	Carrying Amount		Fair Value		Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)
Spire
As of March 31, 2020
Cash and cash equivalents	$	108.4	$	108.4	$	108.4	$	—
Notes payable		560.6		560.6		—		560.6
Long-term debt, including current portion		2,490.2		2,671.0		—		2,671.0
As of September 30, 2019
Cash and cash equivalents	$	5.8	$	5.8	$	5.8	$	—
Notes payable		743.2		743.2		—		743.2
Long-term debt, including current portion		2,122.6		2,373.4		—		2,373.4
As of March 31, 2019
Cash and cash equivalents	$	11.1	$	11.1	$	11.1	$	—
Notes payable		512.0		512.0		—		512.0
Long-term debt, including current portion		2,256.9		2,319.9		—		2,319.9
Spire Missouri
As of March 31, 2020
Cash and cash equivalents	$	5.1	$	5.1	$	5.1	$	—
Notes payable		185.1		185.1		—		185.1
Notes payable – associated companies		39.6		39.6		—		39.6
Long-term debt		1,098.7		1,231.2		—		1,231.2
As of September 30, 2019
Cash and cash equivalents	$	2.6	$	2.6	$	2.6	$	—
Notes payable – associated companies		386.4		386.4		—		386.4
Long-term debt		925.0		1,065.2		—		1,065.2
As of March 31, 2019
Cash and cash equivalents	$	6.9	$	6.9	$	6.9	$	—
Notes payable – associated companies		232.9		232.9		—		232.9
Long-term debt, including current portion		974.7		1,036.9		—		1,036.9
Spire Alabama
As of March 31, 2020
Cash and cash equivalents	$	0.1	$	0.1	$	0.1	$	—
Notes payable		50.0		50.0		—		50.0
Notes payable – associated companies		33.0		33.0		—		33.0
Long-term debt		471.7		535.1		—		535.1
As of September 30, 2019
Notes payable – associated companies	$	128.7	$	128.7	$	—	$	128.7
Long-term debt, including current portion		412.2		474.8		—		474.8
As of March 31, 2019
Cash and cash equivalents	$	0.1	$	0.1	$	0.1	$	—
Notes payable – associated companies		73.7		73.7		—		73.7
Long-term debt, including current portion		412.1		423.8		—		423.8