The pension plans of Spire consist of plans for employees at Spire Missouri, the employees of Spire Alabama and employees of the subsidiaries of Spire EnergySouth.

Spire Missouri and Spire Alabama have non-contributory, defined benefit, trusteed forms of pension plans covering the majority of their employees. Plan assets consist primarily of corporate and U.S. government obligations and a growth segment consisting of exposure to equity markets, commodities, real estate and international credit markets.

	Spire									Spire Missouri									Spire Alabama
	2021			2020			2019			2021			2020			2019			2021			2020			2019
Service cost – benefits earned during the period	$	21.7		$	22.5		$	19.3		$	15.4		$	15.7		$	12.4		$	5.5		$	6.1		$	6.2
Interest cost on projected benefit obligation		20.7			22.6			28.2			14.2			15.8			19.8			4.6			4.9			6.0
Expected return on plan assets		(31.6	)		(35.0	)		(36.3	)		(22.5	)		(24.6	)		(25.5	)		(5.8	)		(6.9	)		(7.3	)
Amortization of prior service (credit) cost		(3.1	)		(2.5	)		(1.1	)		(0.6	)		0.1			0.9			(2.3	)		(2.4	)		(1.8	)
Amortization of actuarial loss		14.9			14.4			9.3			11.0			11.3			8.7			3.9			3.1			0.8
Loss on lump-sum settlements and curtailments		18.2			31.6			—			11.6			26.6			—			6.6			5.0			—
Subtotal		40.8			53.6			19.4			29.1			44.9			16.3			12.5			9.8			3.9
Regulatory adjustment		20.6			6.6			39.6			19.0			3.9			31.8			0.7			1.8			6.9
Net pension cost	$	61.4		$	60.2		$	59.0		$	48.1		$	48.8		$	48.1		$	13.2		$	11.6		$	10.8

Other changes in plan assets and pension benefit obligations recognized in other comprehensive income or loss include the following:

	Spire									Spire Missouri									Spire Alabama
	2021			2020			2019			2021			2020			2019			2021			2020			2019
Current year actuarial (gain) loss	$	(8.1	)	$	68.0		$	90.9		$	(0.9	)	$	37.8		$	59.0		$	(1.5	)	$	24.4		$	26.3
Amortization of actuarial loss		(14.9	)		(14.4	)		(9.3	)		(11.0	)		(11.3	)		(8.7	)		(3.9	)		(3.1	)		(0.8	)
Acceleration of loss recognized due to settlement		(18.2	)		(31.7	)		—			(11.6	)		(26.6	)		—			(6.6	)		(5.1	)		—
Current year service credit		(17.9	)		(4.4	)		(10.2	)		(17.9	)		(4.4	)		(3.7	)		—			—			(6.5	)
Amortization of prior service credit (cost)		3.1			2.5			1.1			0.6			(0.1	)		(0.9	)		2.3			2.4			1.8
Subtotal		(56.0	)		20.0			72.5			(40.8	)		(4.6	)		45.7			(9.7	)		18.6			20.8
Regulatory adjustment		57.3			(19.5	)		(71.7	)		42.1			5.1			(44.9	)		9.7			(18.6	)		(20.8	)
Total recognized in OCI	$	1.3		$	0.5		$	0.8		$	1.3		$	0.5		$	0.8		$	—		$	—		$	—

Spire pension obligations are driven by separate plan and regulatory provisions governing Spire Missouri, Spire Alabama and Spire EnergySouth pension plans.

Pursuant to the provisions of Spire Missouri’s and Spire Alabama’s pension plans, pension obligations may be satisfied by monthly annuities, lump-sum cash payments, or special termination benefits. Lump-sum payments are recognized as settlements (which can result in gains or losses) only if the total of such payments exceeds the sum of service and interest costs in a specific year. Special termination benefits, when offered, are also recognized as settlements which can result in gains or losses.

In the fiscal year ended September 30, 2021, two Spire Missouri plans and one Spire Alabama plan met the criteria for settlement recognition, requiring re-measurement of the obligation under those plans using updated census data and assumptions for discount rate and mortality. For the remeasurements, the discount rates for the Missouri plans were updated to 3.00% at September 30, 2021 (from 2.85% at September 30, 2020), and the discount rate for the Alabama plan was updated to 3.10% (from 2.95%). Lump-sum payments recognized as settlements during fiscal year 2021 was $67.5 ($44.6 attributable to Spire Missouri and $22.9 to Spire Alabama). The Alabama regulatory tariff requires that settlement losses be amortized over the remaining actuarial life of the individuals in the plan, and in fiscal 2021 the amortization periods range from 11.4 years to 11.7 years. Therefore, no lump sum settlement expenses were recorded in the fiscal year ended September 30, 2021.

In the fiscal year ended September 30, 2020, two Spire Missouri plans and one Spire Alabama plan met the criteria for settlement recognition, requiring re-measurement of the obligation under those plans using updated census data and assumptions for discount rate and mortality. For the remeasurements, the discount rates for the Missouri plans were updated to 2.85% at September 30, 2020 (from 3.2% at September 30, 2019), and the discount rate for the Alabama plan was updated to 2.95% (from 3.20%). Lump-sum payments recognized as settlements during fiscal year 2020 was $89.3 ($74.5 attributable to Spire Missouri and $14.8 to Spire Alabama).

Pursuant to a MoPSC Order, the return on plan assets is based on the market-related value of plan assets implemented prospectively over a four-year period. Gains or losses not yet includible in pension cost are amortized only to the extent that such gain or loss exceeds 10% of the greater of the projected benefit obligation or the market-related value of plan assets. Such excess is amortized over the average remaining service life of active participants.

Effective April 19, 2018, the pension cost for Spire Missouri’s western territory (Missouri West) included in customer rates was reduced from $9.9 to $5.5 per year, the pension cost included in Spire Missouri’s eastern territory (Missouri East) customer rates was increased from $15.5 to $29.0 per year. Over an amortization period of eight years, Missouri East rates also include the amortization of $173.0 of assets for pension and other postretirement benefits, and Missouri West rates will be reduced by the amortization of a $26.2 net liability for pension and other postretirement benefits.

The difference between these amounts and pension expense as calculated pursuant to the above and that otherwise would be included in the statements of income and statements of comprehensive income is deferred as a regulatory asset or regulatory liability.

The following table shows the reconciliation of the beginning and ending balances of the pension benefit obligation at September 30:

	Spire						Spire Missouri						Spire Alabama
	2021			2020			2021			2020			2021			2020
Benefit obligation, beginning of year	$	732.6		$	751.4		$	505.2		$	538.4		$	163.5		$	152.5
Service cost		21.7			22.5			15.4			15.7			5.5			6.1
Interest cost		20.7			22.6			14.2			15.8			4.6			4.9
Actuarial loss (gain)		6.6			37.5			11.0			15.6			(1.8	)		18.4
Plan amendments		(17.9	)		(4.4	)		(17.9	)		(4.4	)		—			—
Settlement loss		12.3			16.5			8.2			16.5			4.1			—
Settlement benefits paid		(67.6	)		(89.3	)		(44.6	)		(74.5	)		(22.9	)		(14.8	)
Regular benefits paid		(18.8	)		(24.2	)		(12.5	)		(17.9	)		(3.6	)		(3.6	)
Benefit obligation, end of year	$	689.6		$	732.6		$	479.0		$	505.2		$	149.4		$	163.5
Accumulated benefit obligation, end of year	$	673.3		$	699.3		$	465.4		$	473.7		$	146.9		$	161.8

Actuarial losses in both 2021 and 2020 were primarily due to the decrease in lump sum discount rates in one Spire Missouri plan and the losses on actual lump sum benefit payments compared to assumed amounts across all the plans. Except for Spire Alabama in 2021, these losses more than offset the gains that resulted from the increase in discount rates used to calculate the benefit obligations for each year.

The following table sets forth the reconciliation of the beginning and ending balances of the fair value of plan assets at September 30:

	Spire						Spire Missouri						Spire Alabama
	2021			2020			2021			2020			2021			2020
Fair value of plan assets, beginning of year	$	473.1		$	521.8		$	336.2		$	379.2		$	88.6		$	93.3
Actual return on plan assets		58.8			21.1			42.7			19.1			9.6			1.0
Employer contributions		53.4			43.7			42.2			30.3			11.1			12.7
Settlement benefits paid		(67.6	)		(89.3	)		(44.6	)		(74.5	)		(22.9	)		(14.8	)
Regular benefits paid		(18.8	)		(24.2	)		(12.5	)		(17.9	)		(3.6	)		(3.6	)
Fair value of plan assets, end of year	$	498.9		$	473.1		$	364.0		$	336.2		$	82.8		$	88.6
Funded status of plans, end of year	$	(190.7	)	$	(259.5	)	$	(115.0	)	$	(169.0	)	$	(66.6	)	$	(74.9	)

The following table sets forth the amounts recognized in the balance sheets at September 30:

	Spire						Spire Missouri						Spire Alabama
	2021			2020			2021			2020			2021			2020
Current liabilities	$	(0.8	)	$	(0.6	)	$	(0.8	)	$	(0.6	)	$	—		$	—
Noncurrent liabilities		(189.9	)		(258.9	)		(114.2	)		(168.4	)		(66.6	)		(74.9	)
Total	$	(190.7	)	$	(259.5	)	$	(115.0	)	$	(169.0	)	$	(66.6	)	$	(74.9	)

Pre-tax amounts recognized in accumulated other comprehensive loss not yet recognized as components of net periodic pension cost consist of:

	Spire						Spire Missouri						Spire Alabama
	2021			2020			2021			2020			2021			2020
Net actuarial loss	$	194.6		$	235.6		$	129.6		$	152.9		$	66.1		$	78.1
Prior service credit		(40.3	)		(25.6	)		(20.1	)		(2.8	)		(18.7	)		(21.1	)
Subtotal		154.3			210.0			109.5			150.1			47.4			57.0
Adjustments for amounts included in regulatory assets		(149.5	)		(206.7	)		(104.7	)		(146.8	)		(47.4	)		(57.0	)
Total	$	4.8		$	3.3		$	4.8		$	3.3		$	—		$	—

The assumptions used to calculate net periodic pension costs for Spire Missouri are as follows:

The assumptions used to calculate net periodic pension costs for Spire Alabama are as follows:

The discount rate is based on long-term, high quality bond indices at the measurement date. The expected long-term rate of return on plan assets is based on historical and projected rates of return for current and planned asset classes in the investment portfolio. Assumed projected rates of return for each asset class were selected after analyzing historical experience and future expectations of the returns. The overall expected rate of return for the portfolio was developed based on the target allocation for each class.

Following are the year-end projected benefit obligation, accumulated benefit obligation, and fair value of plan assets for plans that have a projected benefit obligation and an accumulated benefit obligation in excess of plan assets:

	Spire				Spire Missouri				Spire Alabama
	2021		2020		2021		2020		2021		2020
Projected benefit obligation	$	689.6	$	732.6	$	479.0	$	505.2	$	149.4	$	163.5
Accumulated benefit obligation		673.3		699.3		465.4		473.7		146.9		161.8
Fair value of plan assets		498.9		473.1		364.0		336.2		82.8		88.6

Following are the targeted and actual plan assets by category as of September 30 of each year for Spire Missouri and Spire Alabama:

Spire Missouri	2021 Target			2021 Actual			2020 Target			2020 Actual
Return seeking assets		70.0	%		74.5	%		70.0	%		70.0	%
Liability hedging assets		30.0	%		23.1	%		30.0	%		27.0	%
Other		—	%		2.4	%		—	%		3.0	%
Total		100.0	%		100.0	%		100.0	%		100.0	%

Spire Alabama	2021 Target			2021 Actual			2020 Target			2020 Actual
Return seeking assets		70.0	%		72.8	%		70.0	%		71.0	%
Liability hedging assets		30.0	%		25.5	%		30.0	%		27.0	%
Other*		—	%		1.7	%		—	%		2.0	%
Total		100.0	%		100.0	%		100.0	%		100.0	%

The Spire Inc. Retirement Plans Committee is responsible for the administration of the various plans, and all payments under the plans require direction of that committee. The Spire Inc. Defined Benefit Plan Investment Review Committee utilizes an Outsourced Chief Investment Officer (OCIO) model where investment decisions are outsourced to investment consultants (Willis Towers Watson), who in turn become co-fiduciaries with the committee.

For all plans, the Company employs a total return investment approach whereby a mix of equities and fixed income investments are used to maximize the long-term return of plan assets with a prudent level of risk. Risk tolerance is established through consideration of plan liabilities, plan funded status, corporate financial condition and market conditions. The Company has developed an investment strategy that focuses on asset allocation, diversification and quality guidelines. The investment goals are to obtain an adequate level of return to meet future obligations of the plan by providing above average risk-adjusted returns with a risk exposure in the mid-range of comparable funds. Comparative market and peer group benchmarks are utilized to ensure that investment managers are performing satisfactorily. The Company seeks to maintain an appropriate level of diversification to minimize the risk of large losses in a single asset class. Accordingly, plan assets for the pension plans do not have a concentration of assets in a single entity, industry, country, commodity or class of investment fund.

Following are expected pension benefit payments for the succeeding five fiscal years, and in aggregate for the five fiscal years thereafter, for Spire, Spire Missouri, and Spire Alabama:

	2022		2023		2024		2025		2026		2027- 2031
Spire	$	64.3	$	59.2	$	57.8	$	52.4	$	50.6	$	236.8
Spire Missouri		46.6		42.2		41.9		36.9		34.9		164.3
Spire Alabama		14.7		13.9		12.7		12.2		12.3		54.0

The funding policy of Spire Missouri and Spire Alabama is to contribute an amount not less than the minimum required by government funding standards nor more than the maximum deductible amount for federal income tax purposes. Spire Missouri’s contributions to the pension plans in fiscal 2022 are anticipated to be $37.6 into the qualified trusts, and $0.8 into the non-qualified plans. Spire Alabama’s contributions to the pension plans in fiscal 2021 are anticipated to be $14.4 into the qualified trusts.

Spire and the Utilities provide certain life insurance benefits at retirement. Spire Missouri plans provide for medical insurance after early retirement until age 65. For retirements prior to January 1, 2015, the Missouri West plans provided medical insurance after retirement until death. The Spire Alabama plans provide medical insurance upon retirement until death for certain retirees depending on the type of employee and the date the employee was originally hired.

	Spire									Spire Missouri									Spire Alabama
	2021			2020			2019			2021			2020			2019			2021			2020			2019
Service cost – benefits earned during the period	$	7.3		$	5.9		$	7.4		$	6.2		$	5.3		$	6.8		$	0.9		$	0.4		$	0.4
Interest cost on accumulated postretirement benefit obligation		6.0			6.3			9.0			4.5			4.7			6.9			1.3			1.4			1.8
Expected return on plan assets		(16.1	)		(16.7	)		(16.2	)		(10.9	)		(11.4	)		(11.1	)		(4.9	)		(5.0	)		(4.8	)
Amortization of prior service cost (credit)		1.0			(0.5	)		(0.1	)		0.7			(0.2	)		0.3			0.3			(0.3	)		(0.4	)
Amortization of actuarial gain		(1.6	)		(2.0	)		(0.5	)		(1.5	)		(2.0	)		(0.5	)		—			—			—
Subtotal		(3.4	)		(7.0	)		(0.4	)		(1.0	)		(3.6	)		2.4			(2.4	)		(3.5	)		(3.0	)
Regulatory adjustment		13.2			16.0			10.0			15.0			17.7			11.7			(1.8	)		(1.8	)		(1.8	)
Net postretirement benefit cost	$	9.8		$	9.0		$	9.6		$	14.0		$	14.1		$	14.1		$	(4.2	)	$	(5.3	)	$	(4.8	)

Other changes in plan assets and postretirement benefit obligations recognized in OCI include the following:

	Spire									Spire Missouri									Spire Alabama
	2021			2020			2019			2021			2020			2019			2021			2020			2019
Current year actuarial (gain) loss	$	(41.0	)	$	(7.3	)	$	(12.2	)	$	(29.0	)	$	(7.6	)	$	(17.3	)	$	(9.9	)	$	1.1		$	5.5
Amortization of actuarial gain		1.6			2.0			0.5			1.5			2.0			0.5			—			—			—
Current year prior service credit		—			15.8			5.5			—			9.5			4.9			—			6.3			0.6
Amortization of current year service cost		—			—			0.4			—			—			—			—			—			0.4
Amortization of prior service (cost) credit		(1.0	)		0.5			(0.3	)		(0.7	)		0.2			(0.3	)		(0.3	)		0.3			—
Subtotal		(40.4	)		11.0			(6.1	)		(28.2	)		4.1			(12.2	)		(10.2	)		7.7			6.5
Regulatory adjustment		40.4			(11.0	)		6.1			28.2			(4.1	)		12.2			10.2			(7.7	)		(6.5	)
Total recognized in OCI	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Pursuant to a MoPSC Order, the return on plan assets is based on the market-related value of plan assets implemented prospectively over a four-year period. Gains and losses not yet includible in postretirement benefit cost are amortized only to the extent that such gain or loss exceeds 10% of the greater of the accumulated postretirement benefit obligation or the market-related value of plan assets. Such excess is amortized over the average remaining service life of active participants. Effective April 18, 2018, the recovery in rates for Spire Missouri’s postretirement benefit plans is based on an annual allowance of $8.6. The difference between these amounts and postretirement benefit cost based on the above and that otherwise would be included in the statements of income and statements of comprehensive income is deferred as a regulatory asset or regulatory liability.

The following table sets forth the reconciliation of the beginning and ending balances of the postretirement benefit obligation at September 30:

	Spire						Spire Missouri						Spire Alabama
	2021			2020			2021			2020			2021			2020
Benefit obligation, beginning of year	$	212.3		$	197.3		$	158.4		$	147.9		$	48.3		$	43.4
Service cost		7.3			5.9			6.2			5.3			0.9			0.4
Interest cost		6.0			6.3			4.5			4.7			1.3			1.4
Actuarial (gain) loss		(7.5	)		0.2			(6.7	)		1.7			0.7			(0.7	)
Plan amendments		—			15.8			—			9.5			—			6.3
Benefits paid		(13.9	)		(13.2	)		(10.7	)		(10.7	)		(3.2	)		(2.5	)
Benefit obligation, end of year	$	204.2		$	212.3		$	151.7		$	158.4		$	48.0		$	48.3

In fiscal 2021, the actuarial gains for Spire and Spire Missouri were driven by the increase in the discount rate used to calculate the benefit obligation. For Spire Alabama, this gain was more than offset by the loss associated with an update to the trend assumption. In fiscal 2020 the actuarial losses for Spire and Spire Missouri were driven by the decrease in the discount rate used to calculate the benefit obligation. For Spire Alabama, this loss was more than offset by the gain due to the elimination of the assumed liability load from the Cadillac Plan excise tax.

The following table sets forth the reconciliation of the beginning and ending balances of the fair value of plan assets at September 30:

	Spire						Spire Missouri						Spire Alabama
	2021			2020			2021			2020			2021			2020
Fair value of plan assets at beginning of year	$	291.0		$	279.8		$	199.2		$	188.9		$	87.0		$	86.4
Actual return on plan assets		49.7			24.2			33.1			20.8			15.6			3.1
Employer contributions		0.1			0.2			0.1			0.2			—			—
Benefits paid		(13.9	)		(13.2	)		(10.7	)		(10.7	)		(3.2	)		(2.5	)
Fair value of plan assets, end of year	$	326.9		$	291.0		$	221.7		$	199.2		$	99.4		$	87.0
Funded status of plans, end of year	$	122.7		$	78.7		$	70.0		$	40.8		$	51.4		$	38.7

The following table sets forth the amounts recognized in the balance sheets at September 30:

	Spire						Spire Missouri						Spire Alabama
	2021			2020			2021			2020			2021		2020
Noncurrent assets	$	170.2		$	129.0		$	117.5		$	90.3		$	51.4	$	38.7
Current liabilities		(0.5	)		(0.5	)		(0.5	)		(0.5	)		—		—
Noncurrent liabilities		(47.0	)		(49.8	)		(47.0	)		(49.0	)		—		—
Total	$	122.7		$	78.7		$	70.0		$	40.8		$	51.4	$	38.7

Pre-tax amounts recognized in accumulated other comprehensive loss not yet recognized as components of net periodic postretirement benefit cost consist of:

	Spire						Spire Missouri						Spire Alabama
	2021			2020			2021			2020			2021			2020
Net actuarial gain	$	(101.2	)	$	(61.7	)	$	(85.8	)	$	(58.3	)	$	(11.5	)	$	(1.5	)
Prior service (credit) cost		14.6			15.5			9.7			10.4			4.9			5.1
Subtotal		(86.6	)		(46.2	)		(76.1	)		(47.9	)		(6.6	)		3.6
Adjustments for amounts included in regulatory assets		86.6			46.2			76.1			47.9			6.6			(3.6	)
Total	$	—		$	—		$	—		$	—		$	—		$	—

The assumptions used to calculate net periodic postretirement benefit costs for Spire Missouri are as follows:

The assumptions used to calculate net periodic postretirement benefit costs for Spire Alabama are as follows:

The assumptions used to calculate the accumulated postretirement benefit obligations are as follows:

Following are the targeted and actual plan assets by category as of September 30 of each year for Spire Missouri and Spire Alabama:

Missouri and Alabama state laws provide for the recovery in rates of costs accrued pursuant to GAAP provided that such costs are funded through an independent, external funding mechanism. The Utilities have established Voluntary Employees’ Beneficiary Association and Rabbi Trusts as external funding mechanisms. Their investment policies seek to maximize investment returns consistent with their tolerance for risk. Outside investment management specialists are utilized in each asset class. Such specialists are provided with guidelines, where appropriate, designed to ensure that the investment portfolio is managed in accordance with policy. Performance and compliance with the guidelines is regularly monitored. Spire Missouri and Spire Alabama currently invest in mutual funds which are rebalanced periodically to the target allocation. The mutual funds are diversified across U.S. stock and bond markets, and for Spire Alabama, international stock markets.

Following are expected postretirement benefit payments for the succeeding five fiscal years, and in aggregate for the five fiscal years thereafter for Spire, Spire Missouri, and Spire Alabama:

	2022		2023		2024		2025		2026		2027- 2031
Spire	$	14.1	$	14.9	$	15.6	$	15.9	$	15.8	$	76.1
Spire Missouri		11.2		11.9		12.5		12.7		12.7		59.9
Spire Alabama		2.7		2.8		2.9		2.9		2.9		14.3

The Utilities’ funding policy is to contribute amounts to the trusts equal to the periodic benefit cost calculated pursuant to GAAP as recovered in rates. For both Spire Missouri and Spire Alabama there are no anticipated contributions to the postretirement plans in fiscal 2022.

Spire Services Inc. sponsors a 401(k) plan that cover substantially all employees of Spire Inc. and its subsidiaries. The plan allows employees to contribute a portion of their base pay in accordance with specific guidelines. The cost of the defined contribution plan for Spire Inc. totaled $15.5, $13.6, and $13.8 for fiscal years 2021, 2020, and 2019, respectively. Spire Missouri provides a match of such contributions within specific limits. The cost of the defined contribution plan for Spire Missouri amounted to $10.9, $9.5, and $10.0 for fiscal years 2021, 2020, and 2019, respectively. Spire Alabama also provides a match of employee contributions within specific limits. The cost of the defined contribution plan for Spire Alabama amounted to $2.9, $3.4, and $3.1 for fiscal years 2021, 2020, and 2019, respectively.

The table below categorizes the fair value measurements of the Spire pension plan assets:

	Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
As of September 30, 2021
Cash and cash equivalents	$	10.6	$	—	$	—	$	10.6
Equity funds - global (including U.S.)		—		201.2		—		201.2
Real asset funds		—		87.7		—		87.7
Debt securities:
U.S. bond funds		58.4		—		—		58.4
U.S. government index funds		60.1		—		—		60.1
Global funds (including U.S.)		—		80.9		—		80.9
Total	$	129.1	$	369.8	$	—	$	498.9

As of September 30, 2020
Cash and cash equivalents	$	11.5	$	—	$	—	$	11.5
Equity funds - global (including U.S.)		31.4		195.6		—		227.0
Equity index funds - global (including U.S.)		32.6		—		—		32.6
Debt securities:
U.S. bond funds		48.9		—		—		48.9
U.S. government index funds		78.3		—		—		78.3
Global funds (including U.S.)		—		74.8		—		74.8
Total	$	202.7	$	270.4	$	—	$	473.1

The table below categorizes the fair value measurements of Spire’s postretirement plan assets:

	Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
As of September 30, 2021
Cash and cash equivalents	$	3.1	$	—	$	—	$	3.1
U.S. stock/bond mutual funds		223.2		82.5		—		305.7
International fund		1.2		16.9		—		18.1
Total	$	227.5	$	99.4	$	—	$	326.9

As of September 30, 2020
Cash and cash equivalents	$	3.6	$	—	$	—	$	3.6
U.S. stock/bond mutual funds		199.4		72.2		—		271.6
International fund		1.0		14.8		—		15.8
Total	$	204.0	$	87.0	$	—	$	291.0

Cash and cash equivalents include money market mutual funds valued based on quoted market prices. Fair values of derivative instruments are calculated by investment managers who use valuation models that incorporate observable market inputs. Debt securities are valued based on broker/dealer quotations or by using observable market inputs. The stock and bond mutual funds are valued at the quoted market price of the identical securities.

The table below categorizes the fair value measurements of Spire Missouri’s pension plan assets:

	Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
As of September 30, 2021
Cash and cash equivalents	$	8.3	$	—	$	—	$	8.3
Equity funds - global (including U.S.)		—		148.6		—		148.6
Real asset funds		—		59.2		—		59.2
Debt securities:
U.S. bond funds		38.4		—		—		38.4
U.S. government index funds		45.6		—		—		45.6
Global funds (including U.S.)		—		63.9		—		63.9
Total	$	92.3	$	271.7	$	—	$	364.0

As of September 30, 2020
Cash and cash equivalents	$	9.5	$	—	$	—	$	9.5
Equity funds - global (including U.S.)		22.1		137.8		—		159.9
Equity index funds - global (including U.S.)		22.8		—		—		22.8
Debt securities:
U.S. bond funds		31.0		—		—		31.0
U.S. government index funds		59.6		—		—		59.6
Global funds (including U.S.)		—		53.4		—		53.4
Total	$	145.0	$	191.2	$	—	$	336.2

The table below categorizes the fair value measurements of Spire Missouri’s postretirement plan assets:

	Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
As of September 30, 2021
Cash and cash equivalents	$	2.4	$	—	$	—	$	2.4
U.S. stock/bond mutual funds		219.3		—		—		219.3
Total	$	221.7	$	—	$	—	$	221.7

As of September 30, 2020
Cash and cash equivalents	$	3.0	$	—	$	—	$	3.0
U.S. stock/bond mutual funds		196.2		—		—		196.2
Total	$	199.2	$	—	$	—	$	199.2

The table below categorizes the fair value measurements of Spire Alabama’s pension plan assets:

	Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
As of September 30, 2021
Cash and cash equivalents	$	1.4	$	—	$	—	$	1.4
Equity funds - global (including U.S.)		—		32.3		—		32.3
Real asset funds		—		14.6		—		14.6
Debt securities:
U.S. bond funds		12.3		—		—		12.3
U.S. government index funds		8.9		—		—		8.9
Global funds (including U.S.)		—		13.3		—		13.3
Total	$	22.6	$	60.2	$	—	$	82.8

As of September 30, 2020
Cash and cash equivalents	$	0.9	$	—	$	—	$	0.9
Equity funds - global (including U.S.)		6.1		37.5		—		43.6
Equity index funds - global (including U.S.)		6.4		—		—		6.4
Debt securities:
U.S. bond funds		11.7		—		—		11.7
U.S. government index funds		12.1		—		—		12.1
Global funds (including U.S.)		—		13.9		—		13.9
Total	$	37.2	$	51.4	$	—	$	88.6

The table below categorizes the fair value measurements of Spire Alabama’s postretirement plan assets:

	Quoted Prices in Active Markets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
As of September 30, 2021
U.S. stock/bond mutual funds	$	—	$	82.5	$	—	$	82.5
International fund		—		16.9		—		16.9
Total	$	—	$	99.4	$	—	$	99.4

As of September 30, 2020
U.S. stock/bond mutual funds	$	—	$	72.2	$	—	$	72.2
International fund		—		14.8		—		14.8
Total	$	—	$	87.0	$	—	$	87.0