XML 46 R33.htm IDEA: XBRL DOCUMENT v3.22.2
Derivative Instruments (Tables)
 6 Months Ended
Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Derivative Instruments
The total notional amounts of CNX's derivative instruments were as follows:
June 30,December 31,Forecasted to
20222021Settle Through
Natural Gas Commodity Swaps (Bcf)1,715.6 1,686.1 2027
Natural Gas Basis Swaps (Bcf)1,259.5 *1,233.3 2027
Interest Rate Swaps$410,000 $410,000 2024
*Net of purchased natural gas basis swaps of 9.0 Bcf.
Schedule of Derivative Assets at Fair Value The gross fair value of CNX's derivative instruments was as follows:
June 30, December 31,
20222021
Current Assets:
  Commodity Derivative Instruments:
     Commodity Swaps$3,974 $92 
     Basis Only Swaps125,654 94,682 
  Interest Rate Swaps7,864 228 
Total Current Assets$137,492 $95,002 
Other Non-Current Assets:
  Commodity Derivative Instruments:
     Commodity Swaps$26,444 $12,419 
     Basis Only Swaps387,508 119,077 
  Interest Rate Swaps6,339 498 
Total Other Non-Current Assets$420,291 $131,994 
Current Liabilities:
  Commodity Derivative Instruments:
     Commodity Swaps$1,152,278 $505,460 
     Basis Only Swaps51,463 13,206 
  Interest Rate Swaps6,974 2,932 
Total Current Liabilities$1,210,715 $521,598 
Non-Current Liabilities:
  Commodity Derivative Instruments:
     Commodity Swaps$1,864,954 $642,442 
     Basis Only Swaps29,121 41,332 
  Interest Rate Swaps5,661 3,580 
Total Non-Current Liabilities$1,899,736 $687,354 
Schedule of Derivative Liabilities at Fair Value The gross fair value of CNX's derivative instruments was as follows:
June 30, December 31,
20222021
Current Assets:
  Commodity Derivative Instruments:
     Commodity Swaps$3,974 $92 
     Basis Only Swaps125,654 94,682 
  Interest Rate Swaps7,864 228 
Total Current Assets$137,492 $95,002 
Other Non-Current Assets:
  Commodity Derivative Instruments:
     Commodity Swaps$26,444 $12,419 
     Basis Only Swaps387,508 119,077 
  Interest Rate Swaps6,339 498 
Total Other Non-Current Assets$420,291 $131,994 
Current Liabilities:
  Commodity Derivative Instruments:
     Commodity Swaps$1,152,278 $505,460 
     Basis Only Swaps51,463 13,206 
  Interest Rate Swaps6,974 2,932 
Total Current Liabilities$1,210,715 $521,598 
Non-Current Liabilities:
  Commodity Derivative Instruments:
     Commodity Swaps$1,864,954 $642,442 
     Basis Only Swaps29,121 41,332 
  Interest Rate Swaps5,661 3,580 
Total Non-Current Liabilities$1,899,736 $687,354 
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position
The effect of commodity derivative instruments on the Company's Consolidated Statements of Income was as follows:
For the Three Months EndedFor the Six Months Ended
June 30, June 30,
2022202120222021
Cash (Paid) Received in Settlement of Commodity Derivative Instruments:
  Natural Gas:
Commodity Swaps$(558,374)$(16,492)$(830,193)$(9,942)
Basis Swaps27,983 6,133 28,961 1,988 
Total Cash Paid in Settlement of Commodity Derivative Instruments(530,391)(10,359)(801,232)(7,954)
Unrealized (Loss) Gain on Commodity Derivative Instruments:
  Natural Gas:
Commodity Swaps(197,309)(629,688)(1,851,422)(727,147)
Basis Swaps75,057 101,188 273,618 229,656 
Total Unrealized Loss on Commodity Derivative Instruments(122,252)(528,500)(1,577,804)(497,491)
(Loss) Gain on Commodity Derivative Instruments:
  Natural Gas:
Commodity Swaps(755,683)(646,180)(2,681,615)(737,089)
Basis Swaps103,040 107,321 302,579 231,644 
Total Loss on Commodity Derivative Instruments$(652,643)$(538,859)$(2,379,036)$(505,445)

The effect of interest rate swaps on Interest Expense in the Company's Consolidated Statements of Income was as follows:
For the Three Months EndedFor the Six Months Ended
June 30, June 30,
2022202120222021
Cash Paid in Settlement of Interest Rate Swaps$(763)$(1,240)$(1,700)$(2,467)
Unrealized Gain on Interest Rate Swaps2,131 465 7,353 4,659 
Gain (Loss) on Interest Rate Swaps$1,368 $(775)$5,653 $2,192