XML 55 R30.htm IDEA: XBRL DOCUMENT v3.22.4
Segment Information
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION:
The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Company’s reportable segments.

The Company evaluates the performance of its reportable segments based on total revenue and other operating income, and operating expenses directly attributable to that segment. Certain expenses are managed outside the reportable segments and therefore are not allocated. These expenses include, but are not limited to, interest expense, impairment of exploration and production properties, impairment of goodwill and other corporate expenses such as selling, general and administrative costs.
CNX's principal activity is to produce pipeline quality natural gas for sale primarily to gas wholesalers and the Company has two reportable segments that conducts those operations: Shale and Coalbed Methane. The Other Segment includes nominal shallow oil and gas production which is not significant to the Company. It also includes the Company's purchased gas activities, unrealized gain or loss on commodity derivative instruments, realized gain on commodity derivative instruments that were monetized prior to their settlement dates, exploration and production related other costs, impairments of exploration and production properties, new technologies, as well as various other expenses that are managed outside the reportable segments as discussed above. Operating profit for each segment is based on sales less identifiable operating and non-operating expenses.
Industry segment results for the year ended December 31, 2022 are:
ShaleCoalbed
Methane		OtherConsolidated
Natural Gas, NGLs and Oil Revenue$3,334,677 $314,695 $2,740 $3,652,112 (A)
Purchased Gas Revenue— — 185,552 185,552 
Loss on Commodity Derivative Instruments(1,672,974)(139,131)(851,670)(2,663,775)
Other Revenue and Operating Income69,618 — 17,704 87,322 (B)
Total Revenue and Other Operating Income (Loss)$1,731,321 $175,564 $(645,674)$1,261,211   
Total Operating Expense$790,960 $131,426 $399,255 $1,321,641 
Earnings (Loss) Before Income Tax$940,361 $44,138 $(1,196,446)$(211,947)
Segment Assets$6,452,075 $959,126 $1,104,572 $8,515,773 (C)
Depreciation, Depletion and Amortization
$388,641 $53,201 $19,373 $461,215   
Capital Expenditures$544,914 $15,043 $5,797 $565,754   

(A)     Included in Total Natural Gas, NGLs and Oil Revenue are sales of $453,501 to Direct Energy Business Marketing LLC, which comprises over 10% of revenue from contracts with external customers for the period.
(B)    Includes midstream revenue of $69,618 and equity in earnings of unconsolidated affiliates of $1,412 for Shale and Other, respectively.
(C)    Includes investments in unconsolidated equity affiliates of $11,714 .
Industry segment results for the year ended December 31, 2021 are:
ShaleCoalbed
Methane		OtherConsolidated
Natural Gas, NGLs and Oil Revenue$1,988,993 $193,578 $1,358 $2,183,929 (D)
Purchased Gas Revenue— — 99,713 99,713 
Loss on Commodity Derivative Instruments
(492,526)(46,304)(1,093,903)(1,632,733)
Other Revenue and Operating Income81,267 — 24,616 105,883 (E)
Total Revenue and Other Operating Income (Loss)$1,577,734 $147,274 $(968,216)$756,792   
Total Operating Expense$804,004 $117,900 $312,970 $1,234,874 
Earnings (Loss) Before Income Tax$773,730 $29,374 $(1,439,617)$(636,513)
Segment Assets$6,071,495 $1,047,851 $981,405 $8,100,751 (F)
Depreciation, Depletion and Amortization
$440,024 $58,602 $16,492 $515,118   
Capital Expenditures$453,603 $10,880 $1,378 $465,861 
(D)     Included in Total Natural Gas, NGLs and Oil Revenue are sales of $334,407 to Citadel Energy Marketing LLC and $235,760 to Direct Energy Business Marketing LLC, each of which comprises over 10% of revenue from contracts with external customers for the period.
(E)    Includes midstream revenue of $81,267 and equity in earnings of unconsolidated affiliates of $5,780 for Shale and Other, respectively.
(F)    Includes investments in unconsolidated equity affiliates of $17,301.

Industry segment results for the year ended December 31, 2020 are:
ShaleCoalbed
Methane		OtherConsolidated
Natural Gas, NGLs and Oil Revenue$781,038 $114,366 $1,341 $896,745 (G)
Purchased Gas Revenue— — 105,792 105,792 
Gain (Loss) on Commodity Derivative Instruments
337,269 39,884 (204,171)172,982 (H)
Other Revenue and Operating Income64,710 — 17,749 82,459 (I)
Total Revenue and Other Operating Income (Loss)$1,183,017 $154,250 $(79,289)$1,257,978   
Total Operating Expense$709,036 $127,845 $860,863 $1,697,744 
Earnings (Loss) Before Income Tax$473,981 $26,405 $(1,103,217)$(602,831)
Segment Assets$6,068,933 $1,095,816 $877,015 $8,041,764 (J)
Depreciation, Depletion and Amortization
$416,441 $69,745 $15,635 $501,821   
Capital Expenditures$474,545 $9,789 $2,957 $487,291 
(G)    Included in Total Natural Gas, NGLs and Oil Revenue are sales of $167,390 to Direct Energy Business Marketing LLC, which comprises over 10% of revenue from contracts with external customers for the period.
(H) Included in Other is a realized gain on commodity derivative instruments of $83,997 related to the monetization of hedges (see Note 19 – Derivative Instruments for more information).
(I)    Includes midstream revenue of $64,710 and equity in losses of unconsolidated affiliates of $688 for Shale and Other, respectively.
(J)    Includes investments in unconsolidated equity affiliates of $16,022.
Reconciliation of Segment Information to Consolidated Amounts:

Revenue and Other Operating Income:
For the Years Ended December 31,
202220212020
Total Segment Revenue from Contracts with External Customers$3,907,282 $2,364,909 $1,067,247 
(Loss) Gain on Commodity Derivative Instruments(2,663,775)(1,632,733)172,982 
Other Operating Income17,704 24,616 17,749 
Total Consolidated Revenue and Other Operating Income
$1,261,211 $756,792 $1,257,978