(1) Income tax adjustments include amounts calculated by applying federal, state, and local income tax rates applicable to ordinary income to the amounts of the pre-tax reconciling items, and for the nine months ended June 30, 2022, include a Spire Missouri regulatory adjustment. |
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(2) Net economic earnings per share is calculated by replacing consolidated net income with consolidated net economic earnings in the GAAP diluted EPS calculation, which includes reductions for cumulative preferred dividends and participating shares. |
Contribution Margin and Reconciliation to GAAP | ||||||||||||||||||||||||
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(In Millions) |
| Gas Utility |
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| Gas Marketing |
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| Midstream |
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| Other |
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| Eliminations |
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| Consolidated |
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Three Months Ended June 30, 2023 |
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Operating Income (Loss) [GAAP] |
| $ | 13.9 |
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| $ | (7.1) |
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| $ | 6.5 |
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| $ | (1.3) |
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| $ | — |
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| $ | 12.0 |
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Operation and maintenance expenses |
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| 111.7 |
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|
| 4.2 |
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|
| 8.1 |
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|
| 5.5 |
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|
| (4.0) |
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|
| 125.5 |
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Depreciation and amortization |
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| 61.7 |
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| 0.3 |
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|
| 2.1 |
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|
| 0.2 |
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|
| — |
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|
| 64.3 |
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Taxes, other than income taxes |
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| 45.9 |
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|
| 0.4 |
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| 0.7 |
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|
| (0.1) |
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|
| — |
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|
| 46.9 |
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| Less: Gross receipts tax expense |
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| (26.0) |
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|
| — |
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|
| — |
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|
| — |
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|
| — |
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|
| (26.0) |
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| Contribution Margin [Non-GAAP] |
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| 207.2 |
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| (2.2) |
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|
| 17.4 |
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| 4.3 |
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| (4.0) |
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|
| 222.7 |
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| Natural gas costs |
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| 154.6 |
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|
| 25.3 |
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|
| — |
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|
| — |
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|
| (10.1) |
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|
| 169.8 |
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| Gross receipts tax expense |
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| 26.0 |
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|
| — |
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| — |
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| — |
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|
| — |
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|
| 26.0 |
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| Operating Revenues |
| $ | 387.8 |
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| $ | 23.1 |
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| $ | 17.4 |
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| $ | 4.3 |
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| $ | (14.1) |
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| $ | 418.5 |
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| Three Months Ended June 30, 2022 |
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| Operating Income (Loss) [GAAP] |
| $ | 36.8 |
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| $ | (6.9) |
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| $ | 7.4 |
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| $ | 0.6 |
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| $ | — |
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| $ | 37.9 |
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| Operation and maintenance expenses |
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| 95.0 |
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|
| 3.2 |
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|
| 4.8 |
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|
| 3.2 |
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|
| (3.9) |
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|
| 102.3 |
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| Depreciation and amortization |
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| 58.1 |
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|
| 0.3 |
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|
| 1.8 |
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|
| 0.2 |
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|
| — |
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|
| 60.4 |
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| Taxes, other than income taxes |
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| 43.0 |
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|
| 0.4 |
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|
| 0.6 |
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|
| 0.1 |
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| — |
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|
| 44.1 |
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| Less: Gross receipts tax expense |
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| (23.2) |
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|
| (0.1) |
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| — |
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| — |
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| — |
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| (23.3) |
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| Contribution Margin [Non-GAAP] |
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| 209.7 |
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| (3.1) |
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| 14.6 |
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|
| 4.1 |
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| (3.9) |
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|
| 221.4 |
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| Natural gas costs |
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| 144.5 |
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|
| 67.1 |
|
|
| — |
|
|
| — |
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|
| (8.3) |
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|
| 203.3 |
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| Gross receipts tax expense |
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| 23.2 |
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|
| 0.1 |
|
|
| — |
|
|
| — |
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|
| — |
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|
| 23.3 |
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| Operating Revenues |
| $ | 377.4 |
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| $ | 64.1 |
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| $ | 14.6 |
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| $ | 4.1 |
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| $ | (12.2) |
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| $ | 448.0 |
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| Nine Months Ended June 30, 2023 |
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| Operating Income (Loss) [GAAP] |
| $ | 367.1 |
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| $ | 36.7 |
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| $ | 21.1 |
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| $ | (2.4) |
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| $ | — |
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| $ | 422.5 |
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| Operation and maintenance expenses |
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| 350.9 |
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|
| 16.2 |
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|
| 20.1 |
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| 14.4 |
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|
| (11.9) |
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|
| 389.7 |
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| Depreciation and amortization |
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| 181.6 |
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|
| 1.0 |
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|
| 6.0 |
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|
| 0.4 |
|
|
| — |
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|
| 189.0 |
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| Taxes, other than income taxes |
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| 176.2 |
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|
| 1.1 |
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|
| 1.9 |
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|
| — |
|
|
| — |
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|
| 179.2 |
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| Less: Gross receipts tax expense |
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| (116.4) |
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|
| (0.2) |
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|
| — |
|
|
| — |
|
|
| — |
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|
| (116.6) |
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| Contribution Margin [Non-GAAP] |
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| 959.4 |
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|
| 54.8 |
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|
| 49.1 |
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|
| 12.4 |
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|
| (11.9) |
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|
| 1,063.8 |
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| Natural gas costs |
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| 1,099.5 |
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|
| 102.8 |
|
|
| — |
|
|
| — |
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|
| (26.8) |
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|
| 1,175.5 |
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| Gross receipts tax expense |
|
| 116.4 |
|
|
| 0.2 |
|
|
| — |
|
|
| — |
|
|
| — |
|
|
| 116.6 |
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| Operating Revenues |
| $ | 2,175.3 |
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| $ | 157.8 |
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| $ | 49.1 |
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| $ | 12.4 |
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| $ | (38.7) |
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| $ | 2,355.9 |
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| Nine Months Ended June 30, 2022 |
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| Operating Income (Loss) [GAAP] |
| $ | 361.6 |
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| $ | (0.4) |
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| $ | 17.2 |
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| $ | — |
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| $ | — |
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| $ | 378.4 |
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| Operation and maintenance expenses |
|
| 306.5 |
|
|
| 9.1 |
|
|
| 16.4 |
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|
| 11.6 |
|
|
| (11.7) |
|
|
| 331.9 |
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| Depreciation and amortization |
|
| 169.2 |
|
|
| 1.0 |
|
|
| 5.6 |
|
|
| 0.4 |
|
|
| — |
|
|
| 176.2 |
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| Taxes, other than income taxes |
|
| 150.3 |
|
|
| 0.8 |
|
|
| 2.1 |
|
|
| 0.1 |
|
|
| — |
|
|
| 153.3 |
|
| Less: Gross receipts tax expense |
|
| (96.8) |
|
|
| (0.3) |
|
|
| — |
|
|
| — |
|
|
| — |
|
|
| (97.1) |
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| Contribution Margin [Non-GAAP] |
|
| 890.8 |
|
|
| 10.2 |
|
|
| 41.3 |
|
|
| 12.1 |
|
|
| (11.7) |
|
|
| 942.7 |
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| Natural gas costs |
|
| 710.7 |
|
|
| 160.9 |
|
|
| — |
|
|
| — |
|
|
| (27.1) |
|
|
| 844.5 |
|
| Gross receipts tax expense |
|
| 96.8 |
|
|
| 0.3 |
|
|
| — |
|
|
| — |
|
|
| — |
|
|
| 97.1 |
|
| Operating Revenues |
| $ | 1,698.3 |
|
| $ | 171.4 |
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| $ | 41.3 |
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| $ | 12.1 |
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| $ | (38.8) |
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| $ | 1,884.3 |
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