EARNINGS PER COMMON SHARE

6 Months Ended

Mar. 31, 2017



	Three Months Ended March 31,				Six Months Ended March 31,
	2017		2016		2017		2016
Basic EPS:
Net Income	$	108.0	$	100.8	$	153.2	$	147.7
Less: Income allocated to participating securities	0.2		0.3		0.4		0.5
Net Income Available to Common Shareholders	$	107.8	$	100.5	$	152.8	$	147.2
Weighted Average Shares Outstanding (in millions)	45.6		43.3		45.6		43.3
Basic Earnings Per Share of Common Stock	$	2.36	$	2.32	$	3.35	$	3.40

Diluted EPS:
Net Income	$	108.0	$	100.8	$	153.2	$	147.7
Less: Income allocated to participating securities	0.2		0.3		0.4		0.5
Net Income Available to Common Shareholders	$	107.8	$	100.5	$	152.8	$	147.2
Weighted Average Shares Outstanding (in millions)	45.6		43.3		45.6		43.3
Dilutive Effect of Restricted Stock, Restricted Stock Units, and Stock Options (in millions)*	0.1		0.2		0.1		0.2
Weighted Average Diluted Shares (in millions)	45.7		43.5		45.7		43.5
Diluted Earnings Per Share of Common Stock	$	2.36	$	2.31	$	3.34	$	3.39

* Calculation excludes certain outstanding shares (shown in millions by period at the right) attributable to stock units subject to performance or market conditions and restricted stock, which could have a dilutive effect in the future	0.5		0.4		0.5		0.4

Spire’s 2014 2.0% Series Equity Units issued in June 2014 were anti-dilutive for the three and six months ended March 31, 2017 and 2016; accordingly, they were excluded from the calculation of weighted average diluted shares for those periods. On April 3, 2017, the purchase contracts underlying the equity units were settled and approximately 2.5 million common shares were issued. See additional detail under Note 11, Subsequent Events.