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Variable Interest Entities | 6 Months Ended
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Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Variable Interest Entities | VARIABLE INTEREST ENTITIES: The Company determined CNXM, of which the Company owns an approximately 34% limited partner interest, to be a variable interest entity. As a result of the Midstream Acquisition (see Note 5 - Acquisitions and Dispositions), the Company has the power through the Company's ownership and control of CNXM's general partner (CNX Midstream GP LLC) to direct the activities that most significantly impact CNXM's economic performance. In addition, through its limited partner interest and incentive distribution rights, or IDRs, in CNXM, the Company has the obligation to absorb the losses of CNXM and the right to receive benefits in accordance with such interests. As the Company has a controlling financial interest and is the primary beneficiary of CNXM, the Company consolidated CNXM commencing January 3, 2018. The risks associated with the operations of CNXM are discussed in its Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC on February 7, 2019. The following table presents amounts included in the Company's Consolidated Balance Sheets that were for the use or obligation of CNXM:
| June 30, |  | December 31,
| 2019 |  | 2018
Assets: |  |  |
Cash | $ | 11,677 |  |  | 3,966 |
Receivables - Related Party | 19,028 |  |  | 17,073 |
Receivables - Third Party | 6,681 |  |  | 7,028 |
Other Current Assets | 1,648 |  |  | 2,383 |
Property, Plant and Equipment, net | 1,076,977 |  |  | 891,775 |
Operating Lease ROU Asset | 7,875 |  |  | — |
Other Assets | 3,731 |  |  | 3,203 |
Total Assets | $ | 1,127,617 |  |  | $ | 925,428 |
Liabilities: |  |  |
Accounts Payable and Accrued Liabilities | $ | 96,295 |  |  | $ | 43,919 |
Accounts Payable - Related Party | 3,425 |  |  | 4,980 |
Revolving Credit Facility | 208,000 |  |  | 84,000 |
Long-Term Debt | 393,688 |  |  | 393,215 |
Long-Term Operating Lease Liabilities | 1,171 |  |  | — |
Total Liabilities | $ | 702,579 |  |  | $ | 526,114 |
The following table summarizes CNXM's Consolidated Statements of Operations and Cash Flows, inclusive of affiliate amounts:
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Revenue |  |  |  |  |  |  |
Gathering Revenue - Related Party | $ | 59,205 |  |  | $ | 37,576 |  |  | $ | 112,981 |  |  | $ | 75,306 |
Gathering Revenue - Third Party | 18,896 |  |  | 23,438 |  |  | 37,339 |  |  | 49,577 |
Total Revenue | 78,101 |  |  | 61,014 |  |  | 150,320 |  |  | 124,883 |
Expenses |  |  |  |  |  |  |
Operating Expense - Related Party | 6,514 |  |  | 5,079 |  |  | 12,062 |  |  | 9,514 |
Operating Expense - Third Party | 6,188 |  |  | 7,406 |  |  | 12,162 |  |  | 15,874 |
General and Administrative Expense - Related Party | 4,027 |  |  | 3,620 |  |  | 7,994 |  |  | 7,232 |
General and Administrative Expense - Third Party | 1,364 |  |  | 2,319 |  |  | 2,900 |  |  | 4,868 |
(Gain) Loss on Asset Sales and Abandonments | — |  |  | (254 | ) |  | 7,229 |  |  | 2,501 |
Depreciation Expense | 5,860 |  |  | 5,443 |  |  | 11,510 |  |  | 11,299 |
Interest Expense | 7,685 |  |  | 7,119 |  |  | 15,024 |  |  | 9,608 |
Total Expense | 31,638 |  |  | 30,732 |  |  | 68,881 |  |  | 60,896 |
Net Income | $ | 46,463 |  |  | $ | 30,282 |  |  | $ | 81,439 |  |  | $ | 63,987 |
Net Cash Provided by Operating Activities | $ | 74,753 |  |  | $ | 53,674 |  |  | $ | 124,666 |  |  | $ | 95,541 |
Net Cash Used in Investing Activities | $ | (104,310 | ) |  | $ | (24,969 | ) |  | $ | (182,867 | ) |  | $ | (35,125 | )
Net Cash Provided by (Used in) Financing Activities | $ | 41,164 |  |  | $ | (29,964 | ) |  | $ | 65,912 |  |  | $ | (62,903 | )
In March 2018, CNXM closed on its acquisition of CNX's remaining 95% interest in the gathering system and related assets commonly referred to as the Shirley-Penns System, in exchange for cash consideration in the amount of $265,000. CNXM funded the cash consideration with proceeds from the issuance of its 6.50% senior notes due 2026 (See Note 10 - Long-Term Debt). At June 30, 2019 and December 31, 2018, CNX had a net payable of $15,584 and $12,202 respectively, due to CNX Gathering and CNXM, primarily for accrued but unpaid gathering services.

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- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI http://asc.fasb.org/topic&trid=2197479 + Details
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