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Segment Information | 3 Months Ended
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Mar. 31, 2024
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 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 conduct 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, exploration and production related other costs, 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 three months ended March 31, 2024 are:
|  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Natural Gas, NGLs and Oil Revenue |  |  | $ | 292,762 |  |  | $ | 32,863 |  |  | $ | 347 |  |  | $ | 325,972 |  |  |  |  |  |  |  |  |  | (A)
Purchased Gas Revenue |  |  | — |  |  | — |  |  | 14,277 |  |  | 14,277 |  |  |  |  |  |  |  |  |  |
Gain (Loss) on Commodity Derivative Instruments |  |  | 50,779 |  |  | 3,846 |  |  | (47,097) |  |  | 7,528 |  |  |  |  |  |  |  |  |  |
Other Revenue and Operating Income |  |  | 15,894 |  |  | — |  |  | 20,882 |  |  | 36,776 |  |  |  |  |  |  |  |  |  | (B)
Total Revenue and Other Operating Income (Loss) |  |  | $ | 359,435 |  |  | $ | 36,709 |  |  | $ | (11,591) |  |  | $ | 384,553 |  |  |  |  |  |  |  |  |  |
Total Operating Expense |  |  | $ | 198,106 |  |  | $ | 37,004 |  |  | $ | 83,741 |  |  | $ | 318,851 |  |  |  |  |  |  |  |  |  |
Earnings (Loss) Before Income Tax |  |  | $ | 161,329 |  |  | $ | (295) |  |  | $ | (154,715) |  |  | $ | 6,319 |  |  |  |  |  |  |  |  |  |
Segment Assets |  |  | $ | 6,667,562 |  |  | $ | 939,781 |  |  | $ | 1,049,299 |  |  | $ | 8,656,642 |  |  |  |  |  |  |  |  |  | (C)
Depreciation, Depletion and Amortization |  |  | $ | 99,476 |  |  | $ | 14,273 |  |  | $ | 4,901 |  |  | $ | 118,650 |  |  |  |  |  |  |  |  |  |
Capital Expenditures |  |  | $ | 152,874 |  |  | $ | 8,668 |  |  | $ | 6,642 |  |  | $ | 168,184 |  |  |  |  |  |  |  |  |  |
(A) Included in Natural Gas, NGLs and Oil Revenue are sales of $42,909 to NRG Business Marketing LLC (formerly Direct Energy Business Marketing LLC), which comprises over 10% of revenue from contracts with external customers for the period. (B) Includes midstream revenue of $15,894 and equity in loss of unconsolidated affiliates of $250 for Shale and Other, respectively. Other also includes sales of environmental attributes of $12,769. (C) Other includes investments in unconsolidated equity affiliates of $13,631. Industry segment results for the three months ended March 31, 2023 are:
|  |  | Shale |  | Coalbed Methane |  | Other |  | Consolidated |  |  |  |  |  |  |  |  |
Natural Gas, NGLs and Oil Revenue |  |  | $ | 407,198 |  |  | $ | 48,036 |  |  | $ | 405 |  |  | $ | 455,639 |  |  |  |  |  |  |  |  |  | (D)
Purchased Gas Revenue |  |  | — |  |  | — |  |  | 36,812 |  |  | 36,812 |  |  |  |  |  |  |  |  |  |
(Loss) Gain on Commodity Derivative Instruments |  |  | (56,336) |  |  | (4,672) |  |  | 823,175 |  |  | 762,167 |  |  |  |  |  |  |  |  |  |
Other Revenue and Operating Income |  |  | 16,754 |  |  | — |  |  | 4,605 |  |  | 21,359 |  |  |  |  |  |  |  |  |  | (E)
Total Revenue and Other Operating Income |  |  | $ | 367,616 |  |  | $ | 43,364 |  |  | $ | 864,997 |  |  | $ | 1,275,977 |  |  |  |  |  |  |  |  |  |
Total Operating Expense |  |  | $ | 188,117 |  |  | $ | 36,420 |  |  | $ | 96,062 |  |  | $ | 320,599 |  |  |  |  |  |  |  |  |  |
Earnings Before Income Tax |  |  | $ | 179,499 |  |  | $ | 6,944 |  |  | $ | 741,513 |  |  | $ | 927,956 |  |  |  |  |  |  |  |  |  |
Segment Assets |  |  | $ | 6,536,697 |  |  | $ | 955,280 |  |  | $ | 848,168 |  |  | $ | 8,340,145 |  |  |  |  |  |  |  |  |  | (F)
Depreciation, Depletion and Amortization |  |  | $ | 88,110 |  |  | $ | 12,447 |  |  | $ | 4,665 |  |  | $ | 105,222 |  |  |  |  |  |  |  |  |  |
Capital Expenditures |  |  | $ | 159,349 |  |  | $ | 9,459 |  |  | $ | 1,220 |  |  | $ | 170,028 |  |  |  |  |  |  |  |  |  |
(D) Included in Natural Gas, NGLs and Oil Revenue are sales of $55,101 to Direct Energy Business Marketing LLC, which comprises over 10% of revenue from contracts with external customers for the period. (E) Includes midstream revenue of $16,754 and equity in earnings of unconsolidated affiliates of $114 for Shale and Other, respectively. (F) Other includes investments in unconsolidated equity affiliates of $11,828. Reconciliation of Segment Information to Consolidated Amounts: Revenue and Other Operating Income
|  |  | For the Three Months Ended March 31,
|  |  |  | 2024 |  | 2023
Total Segment Revenue from Contracts with External Customers |  |  |  |  | $ | 356,143 |  |  | $ | 509,205 |
Gain on Commodity Derivative Instruments |  |  |  |  | 7,528 |  |  | 762,167 |
Other Operating Income |  |  |  |  | 20,882 |  |  | 4,605 |
Total Consolidated Revenue and Other Operating Income |  |  |  |  | $ | 384,553 |  |  | $ | 1,275,977 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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