Energizing the Future
Key quarterly variances
(Millions)
Three months ended June 30,
2022
As reported
2021
Variance
NSC
reclass¹
Net
Natural gas
$ 203.3 $ 96.9 $ 106.4
variance
$ 106.4 Higher commodity costs
Operation and maintenance
Gas Utility
$
Gas Marketing
Other
3.2
4.1
95.0 $103.2 $ (8.2)
3.2
$ 4.4
$ (3.8)
0.0
0.1
0.1
Lower employee-related costs
5.6
(1.5)
0.2
(1.3)
Total
$ 102.3 $112.0 $
(9.7)
$ 4.7
$ (5.0)
Depreciation and amortization
$
Taxes, other than income taxes
$
44.1 $
60.4 $ 53.1 $
32.6 $
7.3
$ 7.3
11.5
$ 11.5
Interest expense, net
$
29.3 $
26.9 $ 2.4
$
2.4
Continued investment in pipe replacement/
rate base; higher gross receipts taxes
Higher borrowing and ST interest rates
Other (expense) income, net
$ (12.1) $
(1.0) $ (11.1)
$ 4.7
$ (6.4)
Unrealized losses on investments in non-
qualified employee benefit plans
•
Operations and maintenance costs remain below last year
Higher costs associated with rate base investments
Non-qualified benefit plans remain adequately funded despite unrealized losses
¹Non-service cost reclass representing the transfer of non-service postretirement benefit costs to other expenses with no earnings impact.
17 Spire Investor presentation - August 2022View entire presentation