v3.19.3.a.u2
Cover Page - USD ($)
 12 Months Ended
Dec. 31, 2019
Jan. 20, 2020
Jun. 30, 2019
Document Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2019    
Document Transition Report false    
Entity File Number 001-14901    
Entity Registrant Name CNX Resources Corporation    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 51-0337383    
Entity Address, Address Line One CNX Center    
Entity Address, Address Line Two 1000 CONSOL Energy Drive Suite 400    
Entity Address, City or Town Canonsburg    
Entity Address, State or Province PA    
Entity Address, Postal Zip Code 15317-6506    
City Area Code 724    
Local Phone Number 485-4000    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Public Float     $ 800,152,980
Entity Common Stock, Shares Outstanding   186,642,962  
Documents Incorporated by Reference
Portions of CNX's Proxy Statement for the Annual Meeting of Shareholders to be held on May 6, 2020, are incorporated by reference in Items 10, 11, 12, 13 and 14 of Part III.
   
Amendment Flag false    
Document Fiscal Year Focus 2019    
Document Fiscal Period Focus FY    
Entity Central Index Key 0001070412    
Current Fiscal Year End Date --12-31    
Common Stock      
Document Information [Line Items]      
Title of 12(b) Security Common Stock ($.01 par value)    
Trading Symbol CNX    
Security Exchange Name NYSE    
Preferred Share Purchase Rights      
Document Information [Line Items]      
Title of 12(b) Security Preferred Share Purchase Rights    
No Trading Symbol Flag true    
Security Exchange Name NYSE    
v3.19.3.a.u2
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Gain (Loss) on Commodity Derivative Instruments $ 376,105 $ (30,212) $ 206,930
Other Operating Income 13,678 26,942 69,182
Total Revenue and Other Operating Income 1,922,449 1,730,434 1,455,131
Operating Expense      
Lease Operating Expense 65,443 95,139 88,932
Production, Ad Valorem, and Other Fees 27,461 32,750 29,267
Depreciation, Depletion and Amortization 508,463 493,423 412,036
Purchased Gas Costs 90,553 64,817 52,597
Impairment of Exploration and Production Properties 327,400 0 137,865
Impairment of Unproved Properties and Expirations 119,429 0 0
Impairment of Other Intangible Assets 0 18,650 0
Selling, General and Administrative Costs 143,550 134,806 93,211
Other Operating Expense 79,255 72,412 112,369
Total Operating Expense 1,736,473 1,226,963 1,357,216
Other Expense (Income)      
Other Expense (Income) 2,862 (14,571) 3,825
Gain on Asset Sales and Abandonments, net (35,563) (157,015) (188,063)
Gain on Previously Held Equity Interest 0 (623,663) 0
Loss on Debt Extinguishment 7,614 54,118 2,129
Interest Expense 151,379 145,934 161,443
Total Other Expense (Income) 126,292 (595,197) (20,666)
Total Costs and Expenses 1,862,765 631,766 1,336,550
Earnings from Continuing Operations Before Income Tax 59,684 1,098,668 118,581
Income Tax Expense (Benefit) 27,736 215,557 (176,458)
Income from Continuing Operations 31,948 883,111 295,039
Income from Discontinued Operations, net 0 0 85,708
Net Income 31,948 883,111 380,747
Less: Net Income Attributable to Noncontrolling Interests 112,678 86,578 0
Net (Loss) Income Attributable to CNX Resources Shareholders $ (80,730) $ 796,533 $ 380,747
Basic      
Income (Loss) from Continuing Operations (in usd per share) $ (0.42) $ 3.75 $ 1.29
Income (Loss) from Discontinued Operations (in usd per share) 0 0 0.37
Total Basic Earnings (Loss) Per Share (in usd per share) (0.42) 3.75 1.66
Diluted      
Income (Loss) from Continuing Operations (in usd per share) (0.42) 3.71 1.28
Income (Loss) from Discontinued Operations (in usd per share) 0 0 0.37
Total Diluted Earnings (Loss) Per Share (in usd per share) (0.42) 3.71 1.65
Dividends Declared Per Share (in usd per share) $ 0 $ 0 $ 0
Natural Gas, NGLs and Oil Revenue      
Revenue $ 1,364,325 $ 1,577,937 $ 1,125,224
Purchased Gas Revenue      
Revenue 94,027 65,986 53,795
Midstream Revenue      
Revenue 74,314 89,781 0
Transportation, Gathering and Compression      
Operating Expense      
Cost of Goods and Services Sold 330,539 302,933 382,865
Exploration and Production Related Other Costs      
Operating Expense      
Cost of Goods and Services Sold $ 44,380 $ 12,033 $ 48,074
v3.19.3.a.u2
Consolidated Statement of Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Net Income (Loss) Attributable to Parent [Abstract]      
Net Income $ 31,948 $ 883,111 $ 380,747
Other Comprehensive (Loss) Income:      
Actuarially Determined Long-Term Liability Adjustments (Net of tax: $1,664, ($792), ($7,365)) (4,701) 1,672 12,228
Comprehensive Income 27,247 884,783 392,975
Less: Comprehensive Income Attributable to Noncontrolling Interests 112,678 86,578 0
Comprehensive (Loss) Income Attributable to CNX Resources Shareholders $ (85,431) $ 798,205 $ 392,975
v3.19.3.a.u2
Consolidated Statement of Comprehensive Income Parentheticals - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Statement of Comprehensive Income [Abstract]      
Actuarially determined long-term liability adjustments, tax $ 1,664 $ (792) $ (7,365)
v3.19.3.a.u2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Current Assets:    
Cash and Cash Equivalents $ 16,283 $ 17,198
Accounts and Notes Receivable:    
Trade (Note 19) 133,480 252,424
Other Receivables 13,679 11,077
Supplies Inventories 6,984 9,715
Recoverable Income Taxes 62,425 149,481
Derivative Instruments (Note 21) 247,794 40,240
Prepaid Expenses 17,456 21,551
Total Current Assets 498,101 501,686
Property, Plant and Equipment (Note 10):    
Property, Plant and Equipment 10,572,006 9,567,428
Less—Accumulated Depreciation, Depletion and Amortization 3,435,431 2,624,984
Total Property, Plant and Equipment—Net 7,136,575 6,942,444
Other Assets:    
Operating Lease Right-of-Use Asset 187,097  
Investment in Affiliates 16,710 18,663
Derivative Instruments (Note 21) 314,096 213,098
Goodwill (Note 11) 796,359 796,359
Other Intangible Assets (Note 11) 96,647 103,200
Other 15,221 16,720
Total Other Assets 1,426,130 1,148,040
TOTAL ASSETS 9,060,806 8,592,170
Current Liabilities:    
Accounts Payable 202,553 229,806
Derivative Instruments (Note 21) 40,971 61,661
Current Portion of Finance Lease Obligations (Note 15) 7,164 6,997
Current Portion of Operating Lease Obligations 61,670  
Other Accrued Liabilities (Note 13) 216,581 224,511
Total Current Liabilities 528,939 522,975
Non-Current Liabilities:    
Long-Term Debt (Note 14) 2,754,443 2,378,205
Finance Lease Obligations (Note 15) 7,706  
Finance Lease Obligations (Note 15)   13,299
Operating Lease Obligations 110,466  
Derivative Instruments (Note 21) 115,138 92,221
Deferred Income Taxes (Note 8) 476,108 398,682
Asset Retirement Obligations (Note 9) 63,377 37,479
Other 42,320 67,566
Total Non-Current Liabilities 3,569,558 2,987,452
TOTAL LIABILITIES 4,098,497 3,510,427
Stockholders’ Equity:    
Common Stock, $0.01 Par Value; 500,000,000 Shares Authorized, 186,642,962 Issued and Outstanding at December 31, 2019; 198,663,342 Issued and Outstanding at December 31, 2018 1,870 1,990
Capital in Excess of Par Value 2,199,605 2,264,063
Preferred Stock, 15,000,000 Shares Authorized, None Issued and Outstanding 0 0
Retained Earnings 1,971,676 2,071,809
Accumulated Other Comprehensive Loss (12,605) (7,904)
Total CNX Resources Stockholders’ Equity 4,160,546 4,329,958
Noncontrolling Interest 801,763 751,785
TOTAL STOCKHOLDERS' EQUITY 4,962,309 5,081,743
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 9,060,806 $ 8,592,170
v3.19.3.a.u2
Consolidated Balance Sheets Parentheticals - $ / shares
Dec. 31, 2019
Dec. 31, 2018
Common Stock    
Common Stock, Par Value (in usd per share) $ 0.01 $ 0.01
Common Stock, Shares Authorized (in shares) 500,000,000 500,000,000
Common Stock, Issued (in shares) 186,642,962 198,663,342
Common Stock, Outstanding (in shares) 186,642,962 198,663,342
Preferred Stock    
Preferred Stock, Authorized (in shares) 15,000,000 15,000,000
Preferred Stock, Issued (in shares) 0 0
Preferred Stock, Outstanding (in shares) 0 0
v3.19.3.a.u2
Consolidated Statements of Stockholders' Equity - USD ($)
$ in Thousands
Total
Total CNX Resources Corporation Stockholders' Equity
Common Stock and Capital in Excess of Par Value
Retained Earnings
Accumulated Other Comprehensive Loss
Non-Controlling Interest
Balance, Beginning of Period at Dec. 31, 2016 $ 3,940,888   $ 2,463,162 $ 1,727,789 $ (392,556) $ 142,493
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of Common Stock     1,009      
Purchase and Retirement of Common Stock     (51,287) (51,922)    
Amortization of Stock-Based Compensation Awards     16,983     0
Distribution of CONSOL Energy, Inc.     22,697 (594,122) 371,852 (142,493)
Net Income 380,747     380,747   0
Shares Withheld for Taxes       (6,681)   0
ASU 2018-02 Reclassification       0 0  
Other Comprehensive (Loss) Income         12,228  
Distributions to CNXM Noncontrolling Interest Holders           0
Acquisition of CNX Gathering, LLC           0
Balance, End of Period at Dec. 31, 2017 3,899,899 $ 3,899,899 2,452,564 1,455,811 (8,476) 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of Common Stock     1,713      
Purchase and Retirement of Common Stock     (207,154) (176,598)    
Amortization of Stock-Based Compensation Awards     18,930     2,411
Distribution of CONSOL Energy, Inc.     0 0 0 0
Net Income 883,111     796,533   86,578
Shares Withheld for Taxes       (5,037)   (348)
ASU 2018-02 Reclassification 1,100     1,100 (1,100)  
Other Comprehensive (Loss) Income         1,672  
Distributions to CNXM Noncontrolling Interest Holders           (55,433)
Acquisition of CNX Gathering, LLC           718,577
Balance, End of Period at Dec. 31, 2018 5,081,743 4,329,958 2,266,053 2,071,809 (7,904) 751,785
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of Common Stock     565      
Purchase and Retirement of Common Stock (115,477)   (101,688) (13,789)    
Amortization of Stock-Based Compensation Awards     36,545     1,880
Distribution of CONSOL Energy, Inc.     0 0 0 0
Net Income 31,948     (80,730)   112,678
Shares Withheld for Taxes       (5,614)   (696)
ASU 2018-02 Reclassification       0 0  
Other Comprehensive (Loss) Income         (4,701)  
Distributions to CNXM Noncontrolling Interest Holders           (63,884)
Acquisition of CNX Gathering, LLC           0
Balance, End of Period at Dec. 31, 2019 $ 4,962,309 $ 4,160,546 $ 2,201,475 $ 1,971,676 $ (12,605) $ 801,763
v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities:      
Net Income $ 31,948 $ 883,111 $ 380,747
Adjustments to Reconcile Net Income to Net Cash Provided by Continuing Operating Activities:      
Net Income from Discontinued Operations 0 0 (85,708)
Depreciation, Depletion and Amortization 508,463 493,423 412,036
Amortization of Deferred Financing Costs 7,747 8,361 10,630
Impairment of Exploration and Production Properties 327,400 0 137,865
Impairment of Unproved Properties and Expirations 119,429 0 0
Impairment of Other Intangible Assets 0 18,650 0
Stock-Based Compensation 38,425 21,341 16,983
Gain on Asset Sales and Abandonments, net (35,563) (157,015) (188,063)
Gain on Previously Held Equity Interest 0 (623,663) 0
Loss on Debt Extinguishment 7,614 54,118 2,129
(Gain) Loss on Commodity Derivative Instruments (376,105) 30,212 (206,930)
Net Cash Received (Paid) in Settlement of Commodity Derivative Instruments 69,780 (69,720) (41,174)
Deferred Income Taxes 79,092 345,560 (142,829)
Equity in Earnings of Affiliates (2,103) (5,363) (49,830)
Return on Equity Investment 4,056 0 0
Changes in Operating Assets:      
Accounts and Notes Receivable 118,622 (57,734) (32,792)
Supplies Inventories 2,731 1,027 4,254
Recoverable Income Taxes 87,050 (118,498) 76,196
Prepaid Expenses 3,115 (1,391) 631
Changes in Other Assets 1,000 4,904 22,018
Changes in Operating Liabilities:      
Accounts Payable (6,405) 12,760 45,669
Accrued Interest 4,529 (5,839) (2,955)
Other Operating Liabilities 13,242 53,135 81,969
Changes in Other Liabilities (23,507) (1,556) (7,778)
Net Cash Provided by Continuing Operating Activities 980,560 885,823 433,068
Net Cash Provided by Discontinued Operating Activities 0 0 215,619
Net Cash Provided by Operating Activities 980,560 885,823 648,687
Cash Flows from Investing Activities:      
Capital Expenditures (1,192,599) (1,116,397) (632,846)
CNX Gathering LLC Acquisition, Net of Cash Acquired 0 (299,272) 0
Proceeds from Asset Sales 45,160 511,767 414,185
Net Distributions from Equity Affiliates 0 9,250 42,873
Net Cash Used in Continuing Investing Activities (1,147,439) (894,652) (175,788)
Net Cash Used in Discontinued Investing Activities 0 0 (46,133)
Net Cash Used in Investing Activities (1,147,439) (894,652) (221,921)
Cash Flows from Financing Activities:      
Net Proceeds from CNX Revolving Credit Facility 49,000 612,000 0
Payments on Miscellaneous Borrowings (7,149) (7,165) (8,037)
Payments on Long-Term Notes (405,876) (955,019) (239,716)
Net Proceeds from (Payments on) CNXM Revolving Credit Facility 227,750 (65,500) 0
Distributions to CNXM Noncontrolling Interest Holders (63,884) (55,433) 0
Proceeds from Spin-Off of CONSOL Energy Inc. 0 0 425,000
Proceeds from Issuance of Common Stock 565 1,713 1,009
Shares Withheld for Taxes (6,310) (5,385) (6,681)
Purchases of Common Stock (117,477) (381,752) (103,209)
Debt Issuance and Financing Fees (10,655) (20,599) (361)
Net Cash Provided by (Used in) Continuing Financing Activities 165,964 (483,140) 68,005
Net Cash Used in Discontinued Financing Activities 0 0 (31,903)
Net Cash Provided by (Used in) Financing Activities 165,964 (483,140) 36,102
Net (Decrease) Increase in Cash and Cash Equivalents (915) (491,969) 462,868
Cash and Cash Equivalents at Beginning of Period 17,198 509,167 46,299
Cash and Cash Equivalents at End of Period 16,283 17,198 509,167
CNX Senior Notes      
Cash Flows from Financing Activities:      
Proceeds from Issuance of Senior Notes 500,000 0 0
CNXM Senior Notes      
Cash Flows from Financing Activities:      
Proceeds from Issuance of Senior Notes $ 0 $ 394,000 $ 0
v3.19.3.a.u2
Significant Accounting Policies
 12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Significant Accounting Policies SIGNIFICANT ACCOUNTING POLICIES:

A summary of the significant accounting policies of CNX Resources Corporation and subsidiaries ("CNX" or "the Company") is presented below. These, together with the other notes that follow, are an integral part of the Consolidated Financial Statements.
Basis of Consolidation:
The Consolidated Financial Statements include the accounts of CNX Resources Corporation, and its wholly-owned and majority-owned and/or controlled subsidiaries, including certain variable interest entities that the Company is required to consolidate pursuant to the Consolidation topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification. The portion of these entities that is not owned by the Company is presented as non-controlling interest. Investments in business entities in which CNX does not have control but has the ability to exercise significant influence over the operating and financial policies, are accounted for under the equity method. All significant intercompany transactions and accounts have been eliminated in consolidation. Investments in oil and natural gas producing entities are accounted for under the proportionate consolidation method.
Discontinued Operations:
Businesses divested are classified in the Consolidated Financial Statements as either discontinued operations or held for sale when the provision of Accounting Standards Codification (ASC) Topic 205 or ASC Topic 360 are met. For businesses classified as discontinued operations, the balance sheet amounts and results of operations are reclassified from their historical presentation to assets and liabilities of discontinued operations in the Consolidated Balance Sheets and to discontinued operations in the Consolidated Statements of Income and Cash Flows for all periods presented. The gains or losses associated with these divested businesses are recorded in discontinued operations in the Consolidated Statements of Income. The disclosures outside of Note 5- Discontinued Operations, for all periods presented, in the accompanying notes generally do not include the assets, liabilities, or operating results of businesses classified as discontinued operations.
Use of Estimates:
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, as well as various disclosures. Actual results could differ from those estimates. The most significant estimates included in, but not limited to, the preparation of the consolidated financial statements are related to long-lived assets (including intangible assets and goodwill), the values of natural gas, NGLs, condensate and oil (collectively "natural gas") reserves, asset retirement obligations, deferred income tax assets and liabilities, contingencies, fair value of derivative instruments, stock-based compensation and salary retirement benefits.
Cash and Cash Equivalents:
Cash and cash equivalents include cash on hand and on deposit at banking institutions as well as all highly liquid short-term securities with original maturities of three months or less.
Trade Accounts Receivable:
Trade accounts receivable are recorded at the invoiced amount and do not bear interest. CNX reserves for specific accounts receivable when it is probable that all or a part of an outstanding balance will not be collected, such as customer bankruptcies. Collectability is determined based on terms of sale, credit status of customers and various other circumstances. CNX regularly reviews collectability and establishes or adjusts the allowance as necessary using the specific identification method. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Reserves for uncollectable amounts were not material in the periods presented. In addition, there were no material financing receivables with a contractual maturity greater than one year at December 31, 2019 or 2018.

Inventories:
Inventories are stated at the lower of cost or net realizable value. The cost of supplies inventory is determined by the average cost method and includes operating and maintenance supplies to be used in the Company's operations.
Property, Plant and Equipment:
CNX uses the successful efforts method of accounting for natural gas producing activities. Costs of property acquisitions, successful exploratory, development wells and related support equipment and facilities are capitalized. Periodic valuation provisions for impairment of capitalized costs of unproved mineral interests are expensed. Costs of unsuccessful exploratory wells are expensed when such wells are determined to be non-productive, or if the determination cannot be made after finding sufficient quantities of reserves to continue evaluating the viability of the project. The costs of producing properties and mineral interests are amortized using the units-of-production method. DD&A expense is calculated based on the actual produced sales volumes multiplied by the applicable rate per unit, which is derived by dividing the net capitalized costs by the number of units expected to be produced over the life of the reserves. Wells and related equipment and intangible drilling costs are also amortized on a units-of-production method. Units-of-production amortization rates are revised at least once per year, or more frequently if events and circumstances indicate an adjustment is necessary. Such revisions are accounted for prospectively as changes in accounting estimates.

Property, plant and equipment is recorded at cost upon acquisition. Expenditures which extend the useful lives of existing plant and equipment are capitalized. Interest costs applicable to major asset additions are capitalized during the construction period. Planned major maintenance costs which do not extend the useful lives of existing plant and equipment are expensed as incurred.

Depreciation of plant and equipment is calculated on the straight-line method over their estimated useful lives or lease terms, generally as follows:
 
 
Years
Buildings and Improvements
 
10 to 45
Machinery and Equipment
 
3 to 25
Gathering and Transmission
 
30 to 40
Leasehold Improvements
 
Life of Lease


Costs for purchased software are capitalized and amortized using the straight-line method over the estimated useful life which does not exceed seven years.

Impairment of Long-Lived Assets:

Impairment of long-lived assets is recorded when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets' carrying value. The carrying value of the assets is then reduced to its estimated fair value which is usually measured based on an estimate of future discounted cash flows. Impairment of equity investments is recorded when indicators of impairment are present, and the estimated fair value of the investment is less than the assets' carrying value.

In February 2017, the Company approved a plan to sell its subsidiaries Knox Energy LLC and Coalfield Pipeline Company (collectively, “Knox”). Knox met all of the criteria to be classified as held for sale in February 2017. As part of the required evaluation under the held for sale guidance, Knox’s book value was evaluated, and it was determined that the approximate fair value less costs to sell Knox was less than the carrying value of the net assets to be sold. The resulting impairment of $137,865 was included in Impairment of Exploration and Production Properties in the Consolidated Statements of Income during the year ended December 31, 2017. The sale of Knox closed in the second quarter of 2017 (See Note 6 - Acquisitions and Dispositions for more information). The disposal of Knox did not represent a strategic shift that would have had a major effect on the Company’s operations and financial results and was, therefore, not classified as a discontinued operation in accordance with Topic 205, Presentation of Financial Statements, and Topic 360, Property, Plant and Equipment.

Impairment of Proved Properties:

CNX performs a quantitative impairment test whenever events or changes in circumstances indicate that an asset group's carrying amount may not be recoverable, over proved properties using the published NYMEX forward prices, timing, methods and other assumptions consistent with historical periods. When indicators of impairment are present, tests require that the Company
first compare expected future undiscounted cash flows by asset group to their respective carrying values. If the carrying amount exceeds the estimated undiscounted future cash flows, a reduction of the carrying amount of the natural gas properties to their estimated fair values is required, which is determined based on discounted cash flow techniques using significant assumptions including projected revenues, future commodity prices, and a market-specific weighted average cost of capital which are affected by expectations about future market and economic conditions. 

During the fourth quarter of 2019, CNX identified certain indicators of impairment specific to our Central Pennsylvania Marcellus asset group and determined that the carrying value of that asset group was not recoverable. The fair value of the asset group was estimated by using level 3 inputs which consisted of discounting the estimated future cash flows using discount rates and other assumptions that market participants would use in their estimates of fair value. As a result, an impairment of $327,400 was included in Impairment of Exploration and Production Properties in the Consolidated Statements of Income. This impairment was related to 56 operated wells and approximately 51,000 acres within our Central Pennsylvania Marcellus proved properties in Armstrong, Indiana, Jefferson and Westmoreland counties. The majority of these properties were developed prior to 2013 and the last of these properties were developed in 2015.
Impairment of Unproved Properties:
                                                                                                                                                                                                                                                                                                                                                                                                
Capitalized costs of unproved oil and gas properties are evaluated at least annually for recoverability on a prospective basis.  Indicators of potential impairment include, but are not limited to, changes brought about by economic factors, commodity price outlooks, our geologists’ evaluation of the property, favorable or unfavorable activity on the property being evaluated and/or adjacent properties, potential shifts in business strategy employed by management and historical experience. The likelihood of an impairment of unproved oil and gas properties increases as the expiration of a lease term approaches if drilling activity has not commenced. If it is determined that the Company does not intend to drill on the property prior to expiration or does not have the intent and ability to extend, renew, trade, or sell the lease prior to expiration, an impairment expense is recorded. Expense for lease expirations that were not previously impaired are recorded as the leases expire.

For the year ended December 31, 2019, CNX recorded an impairment related to unproved properties of $119,429 that was included in Impairment of Unproved Properties and Expirations in the Consolidated Statements of Income. These unproved properties are within CNX's Central Pennsylvania operating region and east of the acreage associated with the proved property impairment described above.

Exploration expense, which is associated primarily with lease expirations, was $44,380, $12,033 and $48,074 for the years ended December 31, 2019, 2018 and 2017, respectively, and is included in Exploration and Production Related Other Costs in the Consolidated Statements of Income.

Impairment of Goodwill:

In connection with the Midstream Acquisition (See Note 6 - Acquisitions and Dispositions for more information), CNX recorded $796,359 of goodwill through the application of purchase accounting. The goodwill recorded was allocated in its entirety to the Midstream reporting unit, which is the sole reporting unit within the Midstream segment.

Goodwill is the cost of an acquisition less the fair value of the identifiable net assets of the acquired business. Goodwill is not amortized, but rather it is evaluated for impairment annually during the fourth quarter, or more frequently if recent events or prevailing conditions indicate it is more likely than not that the fair value of a reporting unit is less than its carrying value. These indicators include, but are not limited to, overall financial performance, industry and market considerations, anticipated future cash flows and discount rates, changes in the stock price with regards to CNX or common unit price with regards to CNX Midstream Partners LP ("CNXM"), regulatory and legal developments, and other relevant factors.

In connection with the annual evaluation of goodwill for impairment, CNX may first consider qualitative factors to assess whether there are indicators that it is more likely than not that the fair value of a reporting unit may not exceed its carrying amount. If after assessing such factors or circumstances, CNX determines it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, then a quantitative assessment is not required. If CNX chooses to bypass the qualitative assessment, or if it chooses to perform a qualitative assessment but is unable to qualitatively conclude that no impairment has occurred, then CNX will perform a quantitative assessment. In the case of a quantitative assessment, CNX estimates the fair value of the reporting unit with which the goodwill is associated using level 3 inputs and compares it to the carrying value. If the estimated fair value of a reporting unit is less than its carrying value, an impairment charge is recognized for the excess of the reporting unit's carrying value over its fair value. The Company uses a combination of the income approach (generally a discounted cash
flow method) and market approach (which may include the guideline public company method and/or the guideline transaction method) to estimate the fair value of a reporting unit.

The income approach is used to estimate value based on the present value of future economic benefits that are expected to be produced by an asset or business entity. This approach generally involves two general steps:

(i) The first step involves establishing a forecast of the estimated future net cash flows expected to accrue directly or indirectly to the owner of the asset over its remaining useful life or to the owner of the business entity (including a reporting unit).
(ii) The second step involves discounting these estimated future net cash flows to their present value using a market rate of return.

CNX determined the fair value based on estimated future revenues and earnings before deducting net interest expense (interest expense less interest income) and income taxes (EBITDA - a non-GAAP financial measure), and also included estimates for capital expenditures, discounted to present value using an industry rate adjusted for company-specific risk, which management feels reflects the overall level of inherent risk of the reporting unit. These assumptions are affected by expectations about future market, industry and economic conditions. Cash flow projections were derived from board approved budgeted amounts, a five-year operating forecast and an estimate of future cash flows. Subsequent cash flows were developed using growth or contraction rates that management believes are reasonably likely to occur.

The estimates of future cash flows and EBITDA are subjective in nature and are subject to impacts from business risks as described in Item 1A. Risk Factors of this Form 10-K. The fair value estimation process requires considerable judgment and determining the fair value is sensitive to changes in assumptions impacting management’s estimates of future financial results. Although CNX believes the estimates and assumptions used in estimating the fair value are reasonable and appropriate, different assumptions and estimates could materially impact the estimated fair value. Future results could differ from our current estimates and assumptions.

In connection with our annual assessment of goodwill in the fourth quarter of 2019, we bypassed the qualitative assessment and performed a quantitative test that utilized a combination of the income and market approaches to estimate the fair value of the Midstream reporting unit. As a result of this assessment, we concluded that the estimated fair value exceeded carrying value, and accordingly no adjustment to goodwill was necessary. However, the margin by which the fair value of the Midstream reporting unit exceeded its carrying value was less than 10%. As a result, this reporting unit is susceptible to impairment risk from further adverse macroeconomic conditions or other adverse factors such as future gathering volumes being less than those currently estimated. Any such adverse changes in the future could reduce the underlying cash flows used to estimate fair values and could result in a decline in fair value that could trigger future impairment charges relating to the Midstream reporting unit.

Impairment of Definite-Lived Intangible Assets:

Definite-lived intangible assets are amortized on a straight-line basis over their estimated economic lives and they are reviewed for impairment when indicators of impairment are present.

In connection with the Midstream Acquisition (See Note 6 - Acquisitions and Dispositions for more information), CNX recorded $128,781 of other intangible assets, which are comprised of customer relationships, through the application of purchase accounting. 

In May 2018, CNX determined that the carrying value of a portion of the customer relationship intangible assets that were acquired in connection with the Midstream acquisition exceeded their fair value in conjunction with the Asset Exchange Agreement with HG Energy II Appalachia, LLC (See Note 6 - Acquisitions and Dispositions for more information). CNX recognized an impairment on this intangible asset of $18,650, which is included in Impairment of Other Intangible Assets in the Consolidated Statements of Income.

The customer relationships intangible asset is amortized on a straight-line basis over approximately 17 years.
Income Taxes:
Deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been recognized in the Company's financial statements or tax returns. The provision for income taxes represents income taxes paid or payable for the current year and the change in deferred taxes, excluding the effects of acquisitions during the year. Deferred taxes result from
differences between the financial and tax bases of the Company's assets and liabilities and are adjusted for changes in tax rates and tax laws when changes are enacted. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a deferred tax benefit will not be realized.
CNX evaluates all tax positions taken on the state and federal tax filings to determine if the position is more likely than not to be sustained upon examination. For positions that do not meet the more likely than not to be sustained criteria, the Company determines, on a cumulative probability basis, the largest amount of benefit that is more likely than not to be realized upon ultimate settlement. A previously recognized tax position is reversed when it is subsequently determined that a tax position no longer meets the more likely than not threshold to be sustained. The evaluation of the sustainability of a tax position and the probable amount that is more likely than not is based on judgment, historical experience and on various other assumptions that the Company believes are reasonable under the circumstances. The results of these estimates, that are not readily apparent from other sources, form the basis for recognizing an uncertain tax position liability. Actual results could differ from those estimates upon subsequent resolution of identified matters.

Asset Retirement Obligations:

CNX accrues for dismantling and removing costs of gas-related facilities and related surface reclamation using the accounting treatment prescribed by the Asset Retirement and Environmental Obligations Topic of the FASB Accounting Standards Codification. This topic requires the fair value of an asset retirement obligation be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. Estimates are regularly reviewed by management and are revised for changes in future estimated costs and regulatory requirements. The present value of the estimated asset retirement costs is capitalized as part of the carrying amount of the long-lived asset. Amortization of the capitalized asset retirement cost is generally determined on a units-of-production basis. Accretion of the asset retirement obligation is recognized over time and generally will escalate over the life of the producing asset, typically as production declines. Accretion is included in Depreciation, Depletion and Amortization in the Consolidated Statements of Income.

Investment Plan:

CNX has an investment plan that is available to most employees. Throughout the years ended December 31,2019, 2018 and 2017, the Company's matching contribution was 6% of eligible compensation contributed by eligible employees. The Company may also make discretionary contributions to the Plan ranging from 1% to 6% of eligible compensation for eligible employees (as defined by the Plan). There were no such discretionary contributions made by CNX for the years ended December 31, 2019, 2018 and 2017. Total matching contribution payments and costs were $3,460, $3,205 and $2,866 for the years ended December 31, 2019, 2018 and 2017, respectively.

Revenue Recognition:

Revenues are recognized when the recognition criteria of ASC 606 are met, which generally occurs at the point in which title passes to the customers. For natural gas, NGL and oil revenue, this occurs at the contractual point of delivery. For midstream revenue this occurs when obligations under the terms of the contract with the shipper are satisfied.
CNX sells natural gas to accommodate the delivery points of its customers. In general, this gas is purchased at market price and re-sold on the same day at market price less a small transaction fee. These matching buy/sell transactions include a legal right of offset of obligations and have been simultaneously entered into with the counterparty. These transactions qualify for netting under the Nonmonetary Transactions Topic of the FASB Accounting Standards Codification and are, therefore, recorded net within the Consolidated Statements of Income in the Purchased Gas Revenue line.
CNX purchases natural gas produced by third-parties at market prices less a fee. The gas purchased from third-parties is then resold to end users or gas marketers at current market prices. These revenues and expenses are recorded gross as Purchased Gas Revenue and Purchase Gas Costs, respectively, in the Consolidated Statements of Income. Purchased gas revenue is recognized when title passes to the customer. Purchased gas costs are recognized when title passes to CNX from the third-party.

Contingencies:

From time to time, CNX, or its subsidiaries, are subject to various lawsuits and claims with respect to such matters as personal injury, wrongful death, damage to property, exposure to hazardous substances, governmental regulations (including environmental remediation), employment and contract disputes, and other claims and actions, arising out of the normal course of business. Liabilities are recorded when it is probable that obligations have been incurred and the amounts can be reasonably estimated. Estimates are developed through consultation with legal counsel involved in the defense of these matters and are based upon the
nature of the lawsuit, progress of the case in court, view of legal counsel, prior experience in similar matters and management's intended response. Environmental liabilities are not discounted or reduced by possible recoveries from third-parties. Legal fees associated with defending these various lawsuits and claims are expensed when incurred.
Stock-Based Compensation:
Stock-based compensation expense for all stock-based compensation awards is based on the grant date fair value estimated in accordance with the provisions of the Stock Compensation Topic of the FASB Accounting Standards Codification. CNX recognizes these compensation costs on a straight-line basis over the requisite service period of the award, which is generally the award's vesting term. See Note 17 - Stock-Based Compensation for more information.

Derivative Instruments:

CNX enters into financial derivative instruments to manage its exposure to commodity price volatility. The derivatives are accounted for as an asset or a liability in the accompanying Consolidated Balance Sheets at their fair value, generally measured based upon Level 2 inputs, which is further described in Note 20 - Fair Value of Financial Instruments. Changes in the fair values of derivatives are recorded in earnings.
All of the Company's derivative instruments are subject to master netting arrangements with its counterparties, none of which currently require CNX to post collateral for any of its hedges. However, as stated in the counterparty master agreements, if the Company's obligations with one of its counterparties cease to be secured on the same basis as similar obligations with the other lenders under the credit facility, CNX would be required to post collateral for hedges that are in a liability position in excess of defined thresholds. Each of the Company's counterparty master agreements allows, in the event of default, the ability to elect early termination of outstanding contracts. If early termination is elected, CNX and the applicable counterparty would net settle all open hedge positions.
CNX is exposed to credit risk in the event of non-performance by counterparties, whose creditworthiness is subject to continuing review. Historically, CNX has not experienced any issues of non-performance by derivative counterparties.
Recent Accounting Pronouncements:

In December 2019, the FASB issued ASU 2019-12 - Income Taxes - Simplifying the Accounting for Income Taxes (Topic 740), which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. This ASU removes the following exceptions: (1) exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items; (2) exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment; (3) exception to the ability not to recognize a deferred tax liability for a foreign subsidiary when a foreign equity method investment becomes a subsidiary; and (4) exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. The amendments in this ASU also improve consistency and simplify other areas of Topic 740 by clarifying and amending existing guidance. The amendments in this ASU will be applied using different approaches depending on what the specific amendment relates to and, for public entities, are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The adoption of this guidance is not expected to have a material impact on the Company's financial statements.
In November 2019, the FASB issued ASU 2019-11 - Financial Instruments - Credit Losses (Topic 326), which clarifies and addresses specific issues about certain aspects of the amendments in ASU 2016-13. In May 2019, the FASB issued ASU 2019-05 - Financial Instruments - Credit Losses (Topic 326), which provides optional targeted transition relief to entities adopting ASU 2016-13. ASU 2016-13 replaces the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The measurement of expected credit losses will be based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. ASU 2019-05 provides the option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. The amendments in this ASU will be applied using the modified-retrospective approach and, for public entities, are effective for fiscal years beginning after December 15, 2019 and interim periods within those annual periods. Early adoption is permitted. The adoption of this guidance is not expected to have a material impact on the Company's financial statements.


Reclassifications:
Certain amounts in prior periods have been reclassified to conform with the report classifications of the year ended December 31, 2019, with no effect on previously reported net income, stockholders' equity, or statement of cash flows.

Subsequent Events:

The Company has evaluated all subsequent events through the date the financial statements were issued. No material recognized, or non-recognizable subsequent events were identified other than what is disclosed in Note 25 - Subsequent Event.
v3.19.3.a.u2
Earnings Per Share
 12 Months Ended
Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Earnings Per Share EARNINGS PER SHARE:

Basic earnings per share is computed by dividing net income attributable to CNX shareholders by the weighted average shares outstanding during the reporting period. Diluted earnings per share is computed similarly to basic earnings per share, except that the weighted average shares outstanding are increased to include additional shares from stock options, performance stock options, restricted stock units and performance share units, if dilutive. The number of additional shares is calculated by assuming that outstanding stock options and performance share options were exercised, that outstanding restricted stock units and performance share units were released, and that the proceeds from such activities were used to acquire shares of common stock at the average market price during the reporting period. CNXM's dilutive units did not have a material impact on the Company's earnings per share calculations for the year ended December 31, 2019 or the period from January 3, 2018 through December 31, 2018.

The table below sets forth the share-based awards that have been excluded from the computation of diluted earnings per share because their effect would be antidilutive:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Anti-Dilutive Options
4,696,264

 
2,285,775

 
2,773,423

Anti-Dilutive Restricted Stock Units
1,282,582

 
—

 
18,598

Anti-Dilutive Performance Share Units
752,899

 
145,217

 
—

Anti-Dilutive Performance Share Options
927,268

 
927,268

 
927,268

 
7,659,013

 
3,358,260

 
3,719,289




























The computations for basic and diluted earnings per share are as follows:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Income from Continuing Operations
$
31,948

 
$
883,111

 
$
295,039

Less: Net Income Attributable to Non-Controlling Interest
112,678

 
86,578

 
—

Net (Loss) Income from Continuing Operations Attributable to CNX Resources Shareholders
$
(80,730
)
 
$
796,533

 
$
295,039

Income from Discontinued Operations
—

 
—

 
85,708

Net (Loss) Income Attributable to CNX Resources Shareholders
$
(80,730
)
 
$
796,533

 
$
380,747

 
 
 
 
 
 
Weighted-average shares of common stock outstanding
190,727,122

 
212,348,581

 
228,835,112

Effect of diluted shares
—

 
2,280,384

 
2,116,700

Weighted-average diluted shares of common stock outstanding
190,727,122

 
214,628,965

 
230,951,812

 
 
 
 
 
 
(Loss) Earnings Per Share:
 
 
 
 
 
Basic (Continuing Operations)
$
(0.42
)
 
$
3.75

 
$
1.29

Basic (Discontinued Operations)
—

 
—

 
0.37

Total Basic
$
(0.42
)
 
$
3.75

 
$
1.66

 
 
 
 
 
 
Diluted (Continuing Operations)
$
(0.42
)
 
$
3.71

 
$
1.28

Diluted (Discontinued Operations)
—

 
—

 
0.37

Total Diluted
$
(0.42
)
 
$
3.71

 
$
1.65



Shares of common stock outstanding were as follows:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Balance, Beginning of Year
198,663,342

 
223,743,322

 
229,443,008

Issuance Related to Stock-Based Compensation (1)
909,107

 
814,344

 
711,214

Retirement of Common Stock (2)
(12,929,487
)
 
(25,894,324
)
 
(6,410,900
)
Balance, End of Year
186,642,962

 
198,663,342

 
223,743,322

(1) See Note 17 - Stock-Based Compensation for additional information.
(2) See Note 7 - Stock Repurchase for additional information.
v3.19.3.a.u2
Changes in Accumulated Other Comprehensive Loss
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Changes in Accumulated Other Comprehensive Loss CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS:

Changes in Accumulated Other Comprehensive Loss related to pension obligations, net of tax, were as follows:
 
Amount
Balance at December 31, 2018
$
(7,904
)
Other Comprehensive Loss before Reclassifications
(4,868
)
Amounts Reclassified from Accumulated Other Comprehensive Loss, net of tax
167

Balance at December 31, 2019
$
(12,605
)











The following table shows the reclassification of adjustments out of Accumulated Other Comprehensive Loss:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Actuarially Determined Long-Term Liability Adjustments* (Note 16)
 
 
 
 
 
Amortization of Prior Service Costs
$
(17
)
 
$
(193
)
 
$
(2,775
)
Recognized Net Actuarial Loss
242

 
302

 
23,043

Total
225

 
109

 
20,268

Less: Tax Benefit
58

 
173

 
7,499

Net of Tax
$
167

 
$
(64
)
 
$
12,769

*Excludes amounts related to the remeasurement of the actuarially determined pension obligations for the years ended December 31, 2019, 2018 and 2017. The table above only shows the reclassifications out of Accumulated Other Comprehensive Loss that relates to continuing operations.

In February 2018, the FASB issued ASU 2018-02 - Income Statement - Reporting Comprehensive Income (Topic 220), which eliminates the stranded tax effects resulting from the Tax Cuts and Jobs Act. The Company early adopted this ASU, resulting in the reclassification of $1,100 related to stranded tax effects from Accumulated Other Comprehensive Loss to Retained Earnings during the year ended December 31, 2018.
v3.19.3.a.u2
Revenue From Contracts With Customers
 12 Months Ended
Dec. 31, 2019
Revenue from Contract with Customer [Abstract]  
Revenue From Contracts With Customers REVENUE FROM CONTRACTS WITH CUSTOMERS:

On January 1, 2018, the Company adopted ASU 2014-09, Revenue from Contracts with Customers and all the related amendments using the modified retrospective method, which did not result in any changes to previously reported financial information. The updates were applied only to contracts that were not complete as of January 1, 2018.

Revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company has elected to exclude all taxes from the measurement of transaction price.

For natural gas, NGLs and oil, and purchased gas revenue, the Company generally considers the delivery of each unit (MMBtu or Bbl) to be a separate performance obligation that is satisfied upon delivery. Payment terms for these contracts typically require payment within 25 days of the end of the calendar month in which the hydrocarbons are delivered. A significant number of these contracts contain variable consideration because the payment terms refer to market prices at future delivery dates. In these situations, the Company has not identified a standalone selling price because the terms of the variable payments relate specifically to the Company’s efforts to satisfy the performance obligations. A portion of the contracts contain fixed consideration (i.e. fixed price contracts or contracts with a fixed differential to NYMEX or index prices). The fixed consideration is allocated to each performance obligation on a relative standalone selling price basis, which requires judgment from management. For these contracts, the Company generally concludes that the fixed price or fixed differentials in the contracts are representative of the standalone selling price. Revenue associated with natural gas, NGLs and oil as presented on the accompanying Consolidated Statements of Income represent the Company’s share of revenues net of royalties and excluding revenue interests owned by others. When selling natural gas, NGLs and oil on behalf of royalty owners or working interest owners, the Company is acting as an agent and thus reports the revenue on a net basis.

Midstream revenue consists of revenues generated from natural gas gathering activities. The gas gathering services are interruptible in nature and include charges for the volume of gas actually gathered and do not guarantee access to the system. Volumetric based fees are based on actual volumes gathered. The Company generally considers the interruptible gathering of each unit (MMBtu) of natural gas as a separate performance obligation. Payment terms for these contracts typically require payment within 25 days of the end of the calendar month in which the hydrocarbons are gathered.









Disaggregation of Revenue

The following table is a disaggregation of revenue by major source:
 
For the Years Ended December 31,
2019
 
2018
 
2017
Revenue from Contracts with Customers
 
 
 
 
 
Natural Gas Revenue
$
1,251,013

 
$
1,391,459

 
$
945,382

NGLs Revenue
104,139

 
165,883

 
156,132

Condensate Revenue
8,751

 
17,559

 
20,531

Oil Revenue
422

 
3,036

 
3,179

Total Natural Gas, NGLs and Oil Revenue
1,364,325

 
1,577,937

 
1,125,224

 
 
 
 
 
 
Purchased Gas Revenue
94,027

 
65,986

 
53,795

Midstream Revenue
74,314

 
89,781

 
—

 
 
 
 
 
 
Other Sources of Revenue and Other Operating Income
 
 
 
 
 
Gain (Loss) on Commodity Derivative Instruments
376,105

 
(30,212
)
 
206,930

Other Operating Income
13,678

 
26,942

 
69,182

Total Revenue and Other Operating Income
$
1,922,449


$
1,730,434


$
1,455,131



The disaggregated revenue information corresponds with the Company’s segment reporting found in Note 24 - Segment Information.

Contract Balances

CNX invoices its customers once a performance obligation has been satisfied, at which point payment is unconditional. Accordingly, CNX's contracts with customers do not give rise to contract assets or liabilities under ASC 606. The Company has no contract assets recognized from the costs to obtain or fulfill a contract with a customer. The opening and closing balances of the Company’s receivables related to contracts with customers were $252,424 and $133,480, respectively, as of December 31, 2019.

Transaction Price Allocated to Remaining Performance Obligations

ASC 606 requires that the Company disclose the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied. However, the guidance provides certain practical expedients that limit this requirement, including when variable consideration is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a series.

A significant portion of CNX's natural gas, NGLs and oil and purchased gas revenue is short-term in nature with a contract term of one year or less. For those contracts, CNX has utilized the practical expedient in ASC 606-10-50-14 exempting the Company from disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less.

For revenue associated with contract terms greater than one year, a significant portion of the consideration in those contracts is variable in nature and the Company allocates the variable consideration in its contract entirely to each specific performance obligation to which it relates. Therefore, any remaining variable consideration in the transaction price is allocated entirely to wholly unsatisfied performance obligations. As such, the Company has not disclosed the value of unsatisfied performance obligations pursuant to the practical expedient.

For revenue associated with contract terms greater than one year with a fixed price component, the aggregate amount of the transaction price allocated to remaining performance obligations was $156,620 as of December 31, 2019. The Company expects to recognize net revenue of $38,928 in the next 12 months and $53,322 over the following 12 months, with the remainder recognized thereafter.

For revenue associated with CNX's midstream contracts, which also have terms greater than one year, the interruptible gathering of each unit of natural gas represents a separate performance obligation; therefore, future volumes are wholly unsatisfied, and disclosure of the transaction price allocated to remaining performance obligations is not required.

Prior-Period Performance Obligations

CNX records revenue in the month production is delivered to the purchaser. However, settlement statements for certain natural gas and NGL revenue may not be received for 30 to 90 days after the date production is delivered, and as a result, the Company is required to estimate the amount of production delivered to the purchaser and the price that will be received for the sale of the product. CNX records the differences between the estimates and the actual amounts received in the month that payment is received from the purchaser. The Company has existing internal controls for its revenue estimation process and the related accruals, and any identified differences between its revenue estimates and actual revenue received historically have not been significant. For each of the years ended December 31, 2019, 2018, and 2017, revenue recognized in the reporting period related to performance obligations satisfied in prior reporting periods was not material.
v3.19.3.a.u2
Discontinued Operations
 12 Months Ended
Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations DISCONTINUED OPERATIONS:
In November 2017, CNX completed the tax-free spin-off of its coal business resulting in two independent, publicly traded companies: (i) a coal company, CONSOL Energy, formerly known as CONSOL Mining Corporation and (ii) CNX, a natural gas exploration and production company, formerly known as CONSOL Energy, Inc. Following the separation, CONSOL Energy and its subsidiaries hold the coal assets previously held by CNX, including its Pennsylvania Mining Complex, Baltimore Marine Terminal, its direct and indirect ownership interest in CONSOL Coal Resources LP, formerly known as CNXC Coal Resources LP, and other related coal assets previously held by CNX. The coal business has been reclassified to discontinued operations for all periods presented.

The following table details selected financial information for the divested business included within discontinued operations:
 
For the Year Ended
  
December 31, 2017
Coal Revenue
$
1,067,841

Other Outside Sales
60,066

Freight-Outside Coal
66,297

Miscellaneous Other Income
73,645

Total Revenue and Other Income
1,267,849

Total Costs
1,147,254

Income from Operations Before Income Taxes
120,595

Income Tax Expense
23,984

Less: Net Income Attributable to Noncontrolling Interest
10,903

Income from Discontinued Operations, net
$
85,708
v3.19.3.a.u2
Acquisitions and Dispositions
 12 Months Ended
Dec. 31, 2019
Business Combinations [Abstract]  
Acquisitions And Dispositions ACQUISITIONS AND DISPOSITIONS:
On August 31, 2018, CNX closed on the sale of substantially all of its Ohio Utica Joint Venture Assets in the wet gas Utica Shale areas of Belmont, Guernsey, Harrison, and Noble Counties, which included approximately 26,000 net undeveloped acres. The net cash proceeds of $381,124 are included in Proceeds from Asset Sales in the Consolidated Statements of Cash Flows and the net gain on the transaction of $130,710 is included in Gain on Asset Sales and Abandonments, net in the Consolidated Statements of Income.

On May 2, 2018, CNX closed on an Asset Exchange Agreement (the “AEA”) with HG Energy II Appalachia, LLC (“HG Energy”), pursuant to which, among other things, HG Energy (i) paid to CNX approximately $7,000 and (ii) assigned to CNX certain undeveloped Marcellus and Utica acreage in Southwest Pennsylvania, in exchange for CNX (x) assigning its interest in certain non-core midstream assets and surface acreage to HG Energy and (y) releasing certain HG Energy oil and gas acreage from dedication under a gathering agreement that is partially held, indirectly, by CNX. In connection with the transaction, CNX also agreed to certain transactions with CNXM, including the amendment of the existing gas gathering agreement between CNX and CNXM to increase the existing well commitment by an additional forty wells. The net gain on the sale was $286 and is included in Gain on Asset Sales and Abandonments, net in the Consolidated Statements of Income.

As a result of the AEA, CNX determined that the carrying value of a portion of the customer relationship intangible assets that were acquired in connection with the Midstream Acquisition discussed below (see also Note 11 - Goodwill and Other Intangible Assets) exceeded their fair value, and recognized an impairment of approximately $18,650, which is included in Impairment of Other Intangible Assets in the Consolidated Statements of Income.
On March 30, 2018, CNX Gas completed the sale of substantially all of its shallow oil and gas assets and certain Coalbed Methane (CBM) assets in Pennsylvania and West Virginia for $89,921 in cash consideration. In connection with the sale, the buyer assumed approximately $196,514 of asset retirement obligations. The net gain on the sale was $4,227 and is included in Gain on Asset Sales and Abandonments, net in the Consolidated Statements of Income.

On December 14, 2017, CNX Gas entered into a purchase agreement with Noble, pursuant to which CNX Gas acquired Noble’s 50% membership interest in CNX Gathering (then named "CONE Gathering LLC"), for a cash purchase price of $305,000 and the mutual release of all outstanding claims (the "Midstream Acquisition"). CNX Gathering owns a 100% membership interest in CNX Midstream GP LLC (the "general partner"), which is the general partner of CNXM.

Prior to the Midstream Acquisition, the Company accounted for its 50% interest in CNX Gathering as an equity method investment as the Company had the ability to exercise significant influence, but not control, over the operating and financial policies of the midstream operations. In conjunction with the Midstream Acquisition, the Company obtained a controlling interest in CNX Gathering and, through CNX Gathering's ownership of the general partner, control over the Partnership. Accordingly, the Midstream Acquisition has been accounted for as a business combination using the acquisition method of accounting pursuant to ASC Topic 805, Business Combinations, or ASC 805. ASC 805 requires that, in circumstances where a business combination is achieved in stages (or step acquisition), previously held equity interests are remeasured at fair value and any difference between the fair value and the carrying value of the equity interest held be recognized as a gain or loss on the statement of income.

The fair value assigned to the previously held equity interest in CNX Gathering and CNXM for purposes of calculating the gain or loss was $799,033 and was determined using the income approach, based on a discounted cash flow methodology. The resulting gain on remeasurement to fair value of the previously held equity interest in CNX Gathering and CNXM of $623,663 is included in Gain on Previously Held Equity Interest in the Consolidated Statements of Income.

The fair value of the previously held equity interests was based on inputs that are not observable in the market and therefore represent Level 3 inputs (See Note 20 - Fair Value of Financial Instruments). The fair value was measured using valuation techniques that convert future cash flows into a single discounted amount. Significant inputs to the valuation included estimates of: (i) gathering volumes; (ii) future operating costs; and (iii) a market-based weighted average cost of capital. These inputs required significant judgments and estimates by management.

The fair value of midstream facilities and equipment, generally consisting of pipeline systems and compression stations, were estimated using the cost approach. Significant unobservable inputs in the valuation include management's assumptions about the replacement costs for similar assets, the relative age of the acquired assets and any potential economic or functional obsolescence associated with the acquired assets. As a result, the fair value estimates of the midstream facilities and equipment represents a Level 3 fair value measurement.

As part of the purchase price allocation, the Company identified intangible assets for customer relationships with third-party customers. The fair value of the identified intangible assets was determined using the income approach, which requires a forecast of the expected future cash flows generated and an estimated market-based weighted average cost of capital. Significant unobservable inputs in the valuation include future revenue estimates, future cost assumptions, and estimated customer retention rates. As a result, the fair value estimate of the identified intangible assets represents a Level 3 fair value measurement.
    
The noncontrolling interest in the acquired business is comprised of the limited partner units in CNXM, which were not acquired by the Company. The CNXM limited partner units are actively traded on the New York Stock Exchange and were valued based on observable market prices as of the transaction date and therefore represent a Level 1 fair value measurement.

Allocation of Purchase Price (Midstream Acquisition)

The following table summarizes the purchase price and the amounts of identified assets acquired and liabilities assumed based on the fair value as of January 3, 2018, with any excess of the purchase price over the fair value of the identified net assets acquired recorded as goodwill. The purchase price allocation was finalized as of December 31, 2018.

Fair Value of Consideration Transferred:
 
Amount
Cash Consideration
$
305,000

CNX Gathering Cash on Hand at January 3, 2018 Distributed to Noble
2,620

Fair Value of Previously Held Equity Interest
799,033

Total Estimated Fair Value of Consideration Transferred
$
1,106,653

The following is a summary of the fair values of the net assets acquired:
Fair Value of Assets Acquired:
Amount
Cash and Cash Equivalents
$
8,348

Accounts and Notes Receivable
21,199

Prepaid Expense
2,006

Other Current Assets
163

Property, Plant and Equipment, Net
1,043,340

Intangible Assets
128,781

Other
593

Total Assets Acquired
1,204,430

 
 
Fair Value of Liabilities Assumed:
 
Accounts Payable
26,059

CNXM Revolving Credit Facility
149,500

Total Liabilities Assumed
175,559

 
 
Total Identifiable Net Assets
1,028,871

Fair Value of Noncontrolling Interest in CNXM
(718,577
)
Goodwill
796,359

Net Assets Acquired
$
1,106,653



Post-Acquisition Operating Results (Midstream Acquisition)

The Midstream Acquisition contributed the following to the Company's Midstream segment:
 
For the Years Ended December 31,
 
2019
 
2018
Midstream Revenue
$
307,024

 
$
258,074

Earnings from Continuing Operations Before Income Tax
$
166,654

 
$
133,811



Unaudited Pro Forma Information (Midstream Acquisition)

The following unaudited pro forma combined financial information presents the Company’s results as though the Midstream Acquisition had been completed at January 1, 2017. The pro forma combined financial information has been included for comparative purposes and is not necessarily indicative of the results that might have actually occurred had the acquisition been completed at January 1, 2017; furthermore, the financial information is not intended to be a projection of future results.
 
For the Year Ended
(in thousands, except per share data) (unaudited)
December 31, 2017
Pro Forma Total Revenue and Other Operating Income
$
1,553,078

Pro Forma Net Income from Continuing Operations
$
427,381

Less: Pro Forma Net Income Attributable to Noncontrolling Interests
$
74,251

Pro Forma Net Income from Continuing Operations Attributable to CNX
$
353,130

Pro Forma Income per Share from Continuing Operations (Basic)
$
1.33

Pro Forma Income per Share from Continuing Operations (Diluted)
$
1.33



In September 2017, CNX closed on the sale of approximately 22,000 acres of surface land in Colorado. The net cash proceeds of $23,703 are included in Proceeds from Asset Sales in the Consolidated Statements of Cash Flows and the net gain on the transaction of $18,758 is included in Gain on Asset Sales and Abandonments, net in the Consolidated Statements of Income.    

In a two-part closing in July and September 2017, CNX executed the sale of approximately 7,500 net undeveloped acres of the Marcellus Shale in Allegheny and Westmoreland counties, Pennsylvania. The total cash proceeds of $36,649 are included in Proceeds from Asset Sales in the Consolidated Statements of Cash Flows and the net gain on the transaction of $15,251 is included in Gain on Asset Sales and Abandonments, net in the Consolidated Statements of Income.

In June 2017, CNX closed on the sale of approximately 11,100 net undeveloped acres of the Marcellus and Utica Shale in Allegheny, Washington, and Westmoreland counties, Pennsylvania. The total cash proceeds of $83,500 are included in Proceeds from Asset Sales in the Consolidated Statements of Cash Flows and the net gain on the transaction of $58,541 is included in Gain on Asset Sales and Abandonments, net in the Consolidated Statements of Income.     

In June 2017, the Company finalized the sale of 12 producing wells, 15 drilled but uncompleted wells (DUCs), and approximately 11,000 net developed and undeveloped Marcellus and Utica acres in Doddridge and Wetzel counties in West Virginia that were previously classified as held for sale. CNX received total cash proceeds of $125,507, which is included in Proceeds from Asset Sales in the Consolidated Statements of Cash Flows, as well as undeveloped acreage. The net loss on the sale of $9,430 is included in Gain on Asset Sales and Abandonments net in the Consolidated Statements of Income.

In May 2017, CNX finalized the sale of approximately 6,300 net undeveloped acres of the Utica-Point Pleasant Shale in Jefferson, Belmont and Guernsey counties, Ohio that were previously classified as held for sale. The total cash proceeds of $76,585 are included in Proceeds from Asset Sales in the Consolidated Statements of Cash Flows and the net gain on the transaction of $72,346 is included in Gain on Asset Sales and Abandonments, net in the Consolidated Statements of Income.

In April 2017, CNX finalized the sale of its Knox Energy LLC and Coalfield Pipeline Company subsidiaries that were previously classified as held for sale. At closing, CNX received net cash proceeds of $19,055, which is included in Proceeds from Asset Sales in the Consolidated Statements of Cash Flows. The net gain on the sale of these assets was $606 and is included in the Gain on Asset Sales and Abandonments, net in the Consolidated Statements of Income. In February 2017, Knox met all of the criteria to be classified as held for sale. As part of the required evaluation under the held for sale guidance, Knox’s book value was evaluated, and it was determined that the approximate fair value less costs to sell Knox was less than the carrying value of the net assets to be sold. The resulting impairment of $137,865 is included in Impairment of Exploration and Production Properties in the Consolidated Statements of Income during the year ended December 31, 2017.
v3.19.3.a.u2
Stock Repurchase
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Stock Repurchase STOCK REPURCHASE:

Since the October 30, 2017 inception of the current stock repurchase program, CNX's Board of Directors has approved in total a $750,000 stock repurchase program, which is not subject to an expiration date. The repurchases may be affected from time-to-time through open market purchases, privately negotiated transactions, Rule 10b5-1 plans, accelerated stock repurchases, block trades, derivative contracts or otherwise in compliance with Rule 10b-18. The timing of any repurchases will be based on a number of factors, including available liquidity, the Company's stock price, the Company's financial outlook, and alternative investment
options. The stock repurchase program does not obligate the Company to repurchase any dollar amount or number of shares and the Board may modify, suspend, or discontinue its authorization of the program at any time. The Board of Directors will continue to evaluate the size of the stock repurchase program based on CNX's free cash flow position, leverage ratio, and capital plans. During the year ended December 31, 2019, 12,929,487 shares were repurchased and retired at an average price of $8.91 per share for a total cost of $115,477.
v3.19.3.a.u2
Income Taxes
 12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES:

Income tax expense (benefit) provided on earnings from continuing operations consisted of:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Current:
 
 
 
 
 
U.S. Federal
$
(51,243
)
 
$
(130,003
)
 
$
(31,791
)
U.S. State
(113
)
 
—

 
(1,838
)
 
(51,356
)
 
(130,003
)
 
(33,629
)
Deferred:
 
 
 
 
 
U.S. Federal
47,717

 
319,813

 
(166,112
)
U.S. State
31,375

 
25,747

 
23,283

 
79,092

 
345,560

 
(142,829
)
 
 
 
 
 
 
Total Income Tax Expense (Benefit)
$
27,736

 
$
215,557

 
$
(176,458
)


The components of the net deferred taxes are as follows:
 
December 31,
 
2019
 
2018
Deferred Tax Assets:
 
 
 
Net Operating Loss- Federal
$
202,913

 
$
124,341

Net Operating Loss - State
130,430

 
110,339

Alternative Minimum Tax
51,241

 
102,482

Foreign Tax Credit
43,194

 
43,194

Interest Limitation
25,734

 
32,147

Gas Well Closing
17,888

 
10,140

Equity Compensation
9,308

 
13,096

Salary Retirement
9,236

 
9,434

Finance Lease
1,209

 
1,624

Other
10,030

 
13,714

Total Deferred Tax Assets
501,183

 
460,511

Valuation Allowance
(125,054
)
 
(94,455
)
Net Deferred Tax Assets
376,129

 
366,056

 
 
 
 
Deferred Tax Liabilities:
 
 
 
Property, Plant and Equipment
(593,401
)
 
(606,342
)
Investment in Partnership
(145,424
)
 
(125,253
)
Gas Derivatives
(105,721
)
 
(26,160
)
Advance Gas Royalties
(3,337
)
 
(3,384
)
Other
(4,354
)
 
(3,599
)
Total Deferred Tax Liabilities
(852,237
)
 
(764,738
)
 
 
 
 
Net Deferred Tax Liability
$
(476,108
)
 
$
(398,682
)


Deferred taxes are recorded for certain tax benefits, including net operating losses and tax credit carry-forwards, if management assesses the utilization of those assets to be more likely than not. A valuation allowance is required when it is not more likely than not that all or a portion of a deferred tax asset will be realized. All available evidence, both positive and negative, must be considered in determining the need for a valuation allowance. For the years ended December 31, 2019 and 2018, positive evidence considered included financial earnings generated over the past three years for certain subsidiaries, reversals of financial to tax temporary differences and the implementation of and/or ability to employ various tax planning strategies. Negative evidence includes financial and tax losses generated in prior periods and the inability to achieve forecasted results for those periods.

As of December 31, 2019, the Company has a deferred tax asset related to federal net operating losses of $202,913, which expire at various times between 2034 and 2038. However, because of the Tax Cuts and Jobs Act (the “Act”) enacted on December 22, 2017, the anticipated federal net operating losses generated in 2018 and 2019 do not expire but may only offset 80% of taxable income in any given year.

The Act preserved the deductibility of intangible drilling costs for federal income tax purposes, which allows the Company to deduct a portion of drilling costs in the year incurred and minimizes current year taxes payable in periods of taxable income. The Act also repealed the corporate alternative minimum tax (AMT) for tax years beginning January 1, 2018 and provides that existing AMT credits can be utilized to offset current federal taxes owed in tax years 2018 through 2020. In addition, 50% of any unused AMT credits are refundable during these years with any remaining AMT credit carryforward being fully refunded in 2021. The Company has reclassified $51,241 in 2019 and $102,482 in 2018 from Deferred Income Taxes to Recoverable Income Taxes in the Consolidated Balance Sheets in anticipation of the AMT refunds expected to be received in 2020 and received in 2019. The Company has a deferred tax asset relating to federal AMT credits of $51,241 and $102,482, as of December 31, 2019 and 2018, respectively, a decrease of $51,241 from the prior year that resulted from the anticipated and actual refund of the AMT credits. During 2018, the valuation allowance relating to federal AMT credits decreased by $12,413 as the Internal Revenue Service (IRS) announced that refunds of AMT credits are no longer subject to government sequestration.

A valuation allowance on foreign tax credits of $43,194 has also been recorded at December 31, 2019 and 2018. The foreign tax credits expire at various times between 2021 and 2023. A valuation allowance on charitable contribution carry-forwards of $658 and $3,297 has been recorded as of December 31, 2019 and 2018, respectively. The Company's valuation allowance for charitable contributions decreased by $2,639 in 2019 due to expiration of the carry forward period. The remaining charitable contribution carry-forwards expire at various times between 2020 and 2024.

CNX continues to report, on an after federal tax basis, a deferred tax asset related to state operating losses of $130,430 with a related valuation allowance of $81,202 at December 31, 2019. The deferred tax asset related to state operating losses, on an after-tax adjusted basis, was $110,339 with a related valuation allowance of $47,964 at December 31, 2018. A review of positive and negative evidence regarding these state tax benefits concluded that the valuation allowances for various CNX subsidiaries was warranted. These NOLs expire at various times between 2020 and 2039.

Management will continue to assess the potential for realized deferred tax assets based upon income forecast data and the feasibility of future tax planning strategies and may record adjustments to valuation allowances against deferred tax assets in future periods, as appropriate, that could materially impact net income.

The following is a reconciliation, stated as a percentage of pretax income, of the United States statutory federal income tax rate to CNX's effective tax rate:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
 
Amount
 
Percent
 
Amount
 
Percent
 
Amount
 
Percent
Statutory U.S. Federal Income Tax Rate
$
12,534

 
21.0
 %
 
$
230,721

 
21.0
 %
 
$
41,503

 
35.0
 %
Net Effect of State Income Taxes
1,333

 
2.2

 
60,814

 
5.6

 
15,538

 
13.1

Non-Controlling Interest
(23,662
)
 
(39.6
)
 
(18,181
)
 
(1.7
)
 
—

 
—

Uncertain Tax Positions
—

 
—

 
(4,265
)
 
(0.4
)
 
27,359

 
23.1

Effect of Spin on Federal NOL's
—

 
—

 
—

 
—

 
24,942

 
21.0

Accrual to Tax Return Reconciliation
603

 
1.0

 
3,028

 
0.3

 
(1,147
)
 
(1.0
)
Effect of Equity Compensation
8,771

 
14.7

 
—

 
—

 
—

 
—

Effect of Change in State Valuation Allowance
33,238

 
55.6

 
(22,684
)
 
(2.1
)
 
(430
)
 
(0.4
)
Effect of Change in Federal Valuation Allowance
(2,640
)
 
(4.4
)
 
(18,110
)
 
(1.7
)
 
(145,772
)
 
(122.9
)
Other Deferred Adjustments
(1,691
)
 
(2.8
)
 
5,957

 
0.6

 
7,616

 
6.4

Effect of Federal and State Rate Reductions
(3,842
)
 
(6.4
)
 
(27,429
)
 
(2.5
)
 
(131,784
)
 
(111.1
)
Effect of Federal Tax Credits
2,881

 
4.8

 
1,208

 
0.1

 
(19,081
)
 
(16.1
)
Other
211

 
0.4

 
4,498

 
0.4

 
4,798

 
4.0

Income Tax Expense (Benefit) / Effective Rate
$
27,736

 
46.5
 %
 
$
215,557

 
19.6
 %
 
$
(176,458
)
 
(148.9
)%


The effective tax rate for the year ended December 31, 2019 was higher than the U.S. federal statutory rate primarily due to state taxes, equity compensation, and the increase in certain state valuation allowances as a result of a higher than projected net operating loss generated in 2018 partially offset by the benefit from non-controlling interest.

As a result of the Midstream Acquisition on January 3, 2018 as discussed in Note 6 - Acquisitions and Dispositions, the Company obtained a controlling interest in CNX Gathering LLC and, through CNX Gathering's ownership of the general partner, control over CNXM. The financial results for 2019 and 2018 reflect full consolidation of CNXM’s assets and liabilities. The effective tax rates for the years ended December 31, 2019 and 2018 reflect a $23,662 and $18,181 reduction in income tax expense, respectively, due to the non-controlling interest in CNXM’s earnings.

The effective tax rate for the year ended December 31, 2018 was lower than the U.S. federal statutory rate primarily due to the effect of the filing of a Federal NOL carryback for 2017 and 2016 resulting in a financial statement benefit of $23,483 through the realization of the Federal NOLs at a 35% tax rate as a carryback versus the current 21% tax rate as a carryforward, the reversal of the AMT credit sequestration valuation allowance, and the release of certain state valuation allowances as a result of a corporate reorganization during the year. The federal NOL carryback claims for 2016 and 2017 are under review by the IRS and the Joint Committee on Taxation.

The Act, which, among other things, lowered the U.S. Federal corporate income tax rate from 35% to 21%, repealed the corporate AMT for tax years beginning January 1, 2018, and provided for a refund of previously accrued AMT credits. As discussed above, CNX has credits that are to be refunded between 2019 and 2021 because of the Act and monetization opportunities under current law in 2018. The Company recorded a net tax benefit to reflect the impact of the Act as of December 31, 2017, as it is required to reflect the change in the period in which the law is enacted. Largely, the benefits recorded in the period ending December 31, 2017 related to the Act are in recognition of the revaluation of deferred tax assets and liabilities, a benefit of $115,291. The Company's effective tax rate for 2018 and 2017 reflects the release of previously recorded valuation allowances against AMT credit carry-forwards of $12,413 and $154,385, respectively, as those credits will now be able to be monetized under the Act and, according to an IRS announcement, are no longer subject to government sequestration.

The Act is also a comprehensive tax reform bill containing a number of other provisions that either currently or in the future could impact CNX. The effect of certain limitations effective for the tax year 2018 and forward, specifically related to the deductibility of executive compensation, have been evaluated. The Company anticipates U.S. regulatory agencies will issue further regulations which may alter these estimates. The IRS issued rules pertaining to the application of limitations for executive compensation related to contracts existing prior to November 2, 2017, and provisions in the Act addressing the deductibility of interest expense after January 1, 2018. The Company will continue to refine its estimates to incorporate new or better information as it comes available.

Under the provisions of Staff Accounting Bulletin 118 (SAB 118), as of December 31, 2017, we had not completed our accounting for all of the enactment-date income tax effects of the Act under ASC 740, Income Taxes, for the remeasurement of
deferred tax assets and liabilities. As of December 31, 2018, CNX completed its accounting for all of the enactment-date income tax effects of the Act.

A reconciliation of the beginning and ending gross amounts of unrecognized tax benefits is as follows:
 
For the Years Ended
 
December 31,
 
2019
 
2018
Balance at Beginning of Period
$
31,516

 
$
37,813

Increase in Unrecognized Tax Benefits Resulting from Tax Positions Taken During Prior Periods
—

 
2,140

Reduction in Unrecognized Tax Benefits Because of the Lapse of the Applicable Statute of Limitations
—

 
(8,437
)
Balance at End of Period
$
31,516

 
$
31,516



If these unrecognized tax benefits were recognized, $31,516 would affect CNX's effective income tax rate for 2019 and 2018.

In 2018, CNX recognized an increase in unrecognized tax benefits of $2,140 for tax benefits resulting from a revision to our tax position taken on our 2017 federal tax return for the marginal well credit. CNX recognized a reduction to unrecognized tax benefits of $8,437 from a position taken on a state tax return.

CNX recognizes accrued interest related to unrecognized tax benefits in its interest expense. As of December 31, 2019 and 2018, the Company reported no accrued liability relating to uncertain tax positions in Other Liabilities in the Consolidated Balance Sheets. The accrued interest liability includes interest income of $644 and interest expense of $337 recorded in the Company's Consolidated Statements of Income for the year ended December 31, 2018. During the years ended December 31, 2019 and 2018, CNX paid no interest related to income tax deficiencies.

CNX recognizes penalties accrued related to uncertain tax positions in its income tax expense. CNX had no accrued liabilities for tax penalties as of December 31, 2019 and 2018.

CNX and its subsidiaries file federal income tax returns with the United States and income tax returns within various states. With few exceptions, the Company is no longer subject to United States federal, state, local or non-U.S. income tax examinations by tax authorities for the years before 2016. The Joint Committee on Taxation is in the process of reviewing the NOL carryback returns for tax years 2016 and 2017. The review is expected to be completed in 2020. The Joint Committee on Taxation concluded its review of the audit of tax year 2015 on March 21, 2018. The audit resulted in a $108,651 reduction to CNX’s NOL, primarily due to a reduction in the depreciation as an offset to the bonus depreciation taken in the 2010-2013 IRS audit. There was no current cash tax impact from the audit.
v3.19.3.a.u2
Asset Retirement Obligations
 12 Months Ended
Dec. 31, 2019
Asset Retirement Obligation [Abstract]  
Asset Retirement Obligations ASSET RETIREMENT OBLIGATIONS:
The reconciliation of changes in asset retirement obligations is as follows:
 
 
As of December 31,
 
 
2019
 
2018
Balance, Beginning of Year
 
$
38,554

 
$
204,070

Obligations Divested (Note 6)
 
—

 
(196,643
)
Accretion Expense
 
9,458

 
9,874

Obligations Incurred
 
2,933

 
4,795

Obligations Settled
 
(4,231
)
 
(5,323
)
Revisions in Estimated Cash Flows
 
21,740

 
21,781

Balance, End of Year
 
$
68,454

 
$
38,554
v3.19.3.a.u2
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment PROPERTY, PLANT AND EQUIPMENT:
 
December 31,
Property, Plant and Equipment
2019
 
2018
Intangible Drilling Cost
$
4,688,497

 
$
4,120,283

Gas Gathering Equipment
2,463,866

 
2,126,895

Proved Gas Properties
1,208,046

 
1,135,411

Gas Wells and Related Equipment
1,042,000

 
859,359

Unproved Gas Properties
755,590

 
927,667

Surface Land and Other Equipment
226,285

 
238,487

Other
187,722

 
159,326

Total Property, Plant and Equipment
10,572,006

 
9,567,428

Less: Accumulated Depreciation, Depletion and Amortization
3,435,431

 
2,624,984

Total Property, Plant and Equipment - Net
$
7,136,575

 
$
6,942,444


During the years ended December 31, 2019 and 2018, the Company capitalized $5,482 and $1,075, respectively, of interest on Gas Gathering Equipment under construction.
Amounts below reflect properties where drilling operations have not yet commenced and therefore, were not being amortized for the years ended December 31, 2019 and 2018, respectively. These assets will be amortized using the units-of-production method and reclassified to proved gas properties when placed in service.
 
December 31,
 
2019
 
2018
Unproved Gas Properties
$
755,590

 
$
927,667

Advance Royalties
12,770

 
12,863

     Total
$
768,360

 
$
940,530



As of December 31, 2019 and 2018, Property, Plant and Equipment includes a gross asset related to finance leases of $72,916 and $73,144, respectively. Included in Gas Gathering Equipment is a finance lease for the Jewell Ridge Pipeline of $66,919 at December 31, 2019 and 2018. CNX also maintains finance leases for vehicles of $5,997 and $6,225 at December 31, 2019 and 2018, respectively, which is included in Other. Accumulated amortization for finance leases was $63,008 and $59,517 at December 31, 2019 and 2018, respectively. Amortization expense for finance leases is included in Depreciation, Depletion and Amortization in the Consolidated Statements of Income. See Note 15 - Leases for further discussion of finance leases.
v3.19.3.a.u2
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets GOODWILL AND OTHER INTANGIBLE ASSETS:

In connection with the Midstream Acquisition that closed on January 3, 2018 (See Note 6 - Acquisitions and Dispositions for more information), CNX recorded $796,359 of goodwill and $128,781 of other intangible assets which are comprised of customer relationships.

All goodwill is attributed to the Midstream reportable segment.

The carrying amount and accumulated amortization of other intangible assets consist of the following:
 
December 31,
 
2019
 
2018
Other Intangible Assets
 
 
 
Gross Amortizable Asset - Customer Relationships
$
109,752

 
$
109,752

Less: Accumulated Amortization - Customer Relationships
13,105

 
6,552

Total Other Intangible Assets, net
$
96,647

 
$
103,200



During the year ended December 31, 2018, CNX determined that the carrying value of a portion of the customer relationship intangible assets exceeded their fair value as a result of the AEA with HG Energy. Accordingly, CNX recognized an impairment on this intangible asset of $18,650. There were no such impairments in the current period.

The customer relationship intangible asset is being amortized on a straight-line basis over approximately 17 years. Amortization expense related to other intangible assets was $6,553 and $6,931 for the years ended December 31, 2019 and 2018, respectively. There was no such expense for the year ended December 31, 2017. The estimated annual amortization expense is expected to approximate $6,552 per year for each of the next five years.
v3.19.3.a.u2
Revolving Credit Facilities
 12 Months Ended
Dec. 31, 2019
Short-term Debt, Other Disclosures [Abstract]  
Revolving Credit Facilities REVOLVING CREDIT FACILITIES:

CNX Resources Corporation (CNX)
In April 2019, CNX amended its senior secured revolving credit facility ("Credit Facility") and extended its maturity to April 2024. The lenders' commitments remained unchanged at $2,100,000, with an accordion feature that allows the Company to increase the commitments to $3,000,000. The borrowing base was reaffirmed at $2,100,000, including a $650,000 letters of credit aggregate sub-limit. In addition, the Cumulative Credit Basket for dividends and distributions was replaced with a basket for dividends and distributions subject to a pro forma net leverage ratio of at least 3.00 to 1.00 and availability under the credit facility of at least 15% of the aggregate commitments. If the aggregate principal amount of the existing 5.875% Senior Notes due in April 2022 and certain other publicly traded debt securities outstanding 91 days prior to the earliest maturity of such debt (the "Springing Maturity Date") is greater than $500,000, then the Credit Facility will mature on the Springing Maturity Date. In October 2019, as part of the semi-annual borrowing base redetermination, the lenders increased CNX's borrowing base to $2,300,000, including maintaining a $650,000 letters of credit sub-limit.

Under the terms of the amended agreement, borrowings under the revolving credit facility will bear interest at CNX's option at either:
•
the base rate, which is the highest of (i) the federal funds open rate plus 0.50%, (ii) PNC Bank, N.A.’s prime rate, or (iii) the one-month LIBOR rate plus 1.0%, in each case, plus a margin ranging from 0.25% to 1.25%; or
•the LIBOR rate, which is the LIBOR rate plus a margin ranging from 1.25% to 2.25%.

The CNX Credit Facility is secured by substantially all of the assets of CNX and certain of its subsidiaries (excluding the Excluded Subsidiaries, which includes CNX Midstream GP LLC and CNXM and their respective subsidiaries). Fees and interest rate spreads are based on the percentage of facility utilization, measured quarterly. Availability under the Credit Facility is limited to a borrowing base, which is determined by the lenders' syndication agent and approved by the required number of lenders in good faith by calculating a value of CNX's proved natural gas reserves.

The CNX Credit Facility contains a number of affirmative and negative covenants including those that, except in certain circumstances, limit the Company and the subsidiary guarantors' ability to create, incur, assume or suffer to exist indebtedness, create or permit to exist liens on properties, dispose of assets, make investments, purchase or redeem CNX common stock, pay dividends, merge with another corporation and amend the senior unsecured notes. The Company must also mortgage 80% of the value of its proved reserves and 80% of the value of its proved developed producing reserves, in each case, which are included in the borrowing base, maintain applicable deposit, securities and commodities accounts with the lenders or affiliates thereof, and enter into control agreements with respect to such applicable accounts.

The CNX Credit Facility contains customary events of default, including, but not limited to, a cross-default to certain other debt, breaches of representations and warranties, change of control events and breaches of covenants.

The CNX Credit Facility also requires that CNX maintain a maximum net leverage ratio of no greater than 4.00 to 1.00, which is calculated as the ratio of debt less cash on hand to consolidated EBITDA, measured quarterly. CNX must also maintain a minimum current ratio of no less than 1.00 to 1.00, which is calculated as the ratio of current assets, plus revolver availability, to current liabilities, excluding borrowings under the revolver, measured quarterly. The calculation of all of the ratios exclude CNXM. CNX was in compliance with all financial covenants as of December 31, 2019.

At December 31, 2019, the CNX Credit Facility had $661,000 of borrowings outstanding and $204,726 of letters of credit outstanding, leaving $1,234,274 of unused capacity. At December 31, 2018, the CNX Credit Facility had $612,000 borrowings outstanding and $198,396 letters of credit outstanding, leaving $1,289,604 of unused capacity.

CNX Midstream Partners LP (CNXM)
In April 2019, CNXM amended its senior secured revolving credit facility and extended its maturity to April 2024. The lenders' commitments remained unchanged at $600,000, with an accordion feature that allows CNXM to increase the available borrowings by up to an additional $250,000 under certain terms and conditions. Among other things, the revolving credit facility now includes (i) the addition of a restricted payment basket permitting cash repurchases of Incentive Distribution Rights (IDRs)
subject to a pro forma secured leverage ratio of 3.00 to 1.00, a pro forma total leverage ratio of 4.00 to 1.00 and pro forma availability of 20% of commitments and (ii) a restricted payment basket for the repurchase of LP units not to exceed Available Cash (as defined in the partnership agreement) in any quarter, of up to $150,000 per year and up to $200,000 during the life of the facility.

Under the terms of the amended agreement, borrowings under the revolving credit facility will bear interest at CNXM's option at either:
•
the base rate, which is the highest of (i) the federal funds open rate plus 0.50%, (ii) PNC Bank, N.A.’s prime rate, or (iii) the one-month LIBOR rate plus 1.0%, in each case, plus a margin ranging from 0.50% to 1.50%; or
•
the LIBOR rate, plus a margin ranging from 1.50% to 2.50%.
Fees and interest rate spreads under the CNXM credit facility are based on the total leverage ratio, measured quarterly. The CNXM credit facility includes the ability to issue letters of credit up to $100,000 in the aggregate.

The CNXM revolving credit facility contains a number of affirmative and negative covenants that include, among others, covenants that, except in certain circumstances, restrict the ability of CNXM, its subsidiary guarantors and certain of its non-guarantor, non-wholly-owned subsidiaries, except in certain circumstances, to: (i) create, incur, assume or suffer to exist indebtedness; (ii) create or permit to exist liens on their properties; (iii) prepay certain indebtedness unless there is no default or event of default under the revolving facility; (iv) make or pay any dividends or distributions in excess of certain amounts; (v) merge with or into another person, liquidate or dissolve; or acquire all or substantially all of the assets of any going concern or going line of business or acquire all or a substantial portion of another person’s assets; (vi) make particular investments and loans; (vii) sell, transfer, convey, assign or dispose of its assets or properties other than in the ordinary course of business and other select instances; (viii) deal with any affiliate except in the ordinary course of business on terms no less favorable to CNXM than it would otherwise receive in an arm’s length transaction; and (ix) amend in any material manner its certificate of incorporation, bylaws, or other organizational documents without giving prior notice to the lenders and, in some cases, obtaining the consent of the lenders.

In addition, CNXM is obligated to maintain at the end of each fiscal quarter (w) for so long as at least $150,000 of the CNXM senior notes are outstanding, a maximum total leverage ratio of no greater than 5.25 to 1.00 (which increases to no greater than 5.50 to 1.00 during qualifying acquisition periods); (x) if less than $150,000 of the CNXM senior notes are outstanding, a maximum total leverage ratio of no greater than 4.75 to 1.00 (which increases to no greater than 5.25 to 1.00 during qualifying acquisition periods); (y) a maximum secured leverage ratio of no greater than 3.50 to 1.00 and (z) a minimum interest coverage ratio of no less than 2.50 to1.00. CNXM was in compliance with all financial covenants as of December 31, 2019.

The CNXM revolving credit facility also contains customary events of default, including, but not limited to, a cross-default to certain other debt, breaches of representations and warranties, change of control events and breaches of covenants. The obligations under the revolving credit facility are secured by substantially all of the assets of CNXM and its wholly-owned subsidiaries. CNX is not a guarantor under the revolving credit facility.

At December 31, 2019, the CNXM credit facility had $311,750 of borrowings outstanding. CNXM had the maximum amount of revolving credit available for borrowing at December 31, 2019, or $288,250. At December 31, 2018, the CNXM credit facility had $84,000 of borrowings outstanding.
v3.19.3.a.u2
Other Accrued Liabilities
 12 Months Ended
Dec. 31, 2019
Other Liabilities Disclosure [Abstract]  
Other Accrued Liabilities OTHER ACCRUED LIABILITIES:
 
 
December 31,
 
 
2019
 
2018
Royalties
 
$
74,061

 
$
92,005

Accrued Interest
 
30,862

 
26,333

Short-Term Incentive Compensation
 
21,030

 
20,482

Transportation Charges
 
16,533

 
19,661

Deferred Revenue
 
13,964

 
17,693

Accrued Other Taxes
 
9,115

 
7,300

Accrued Payroll & Benefits
 
6,248

 
6,533

Other
 
38,105

 
31,851

Current Portion of Long-Term Liabilities:
 

 

Asset Retirement Obligations
 
5,076

 
1,075

Salary Retirement
 
1,587

 
1,578

Total Other Accrued Liabilities
 
$
216,581


$
224,511
v3.19.3.a.u2
Long-Term Debt
 12 Months Ended
Dec. 31, 2019
Long-term Debt, Other Disclosures [Abstract]  
Long-term Debt LONG-TERM DEBT:
 
December 31,
 
2019
 
2018
Senior Notes due April 2022 at 5.875% (Principal of $894,307 and $1,294,307 plus Unamortized Premium of $1,001 and $2,069, respectively)
$
895,308

 
$
1,296,376

CNX Credit Facility
661,000

 
612,000

Senior Notes due March 2027 at 7.25%, Issued at Par Value
500,000

 
—

CNX Midstream Partners LP Senior Notes due March 2026 at 6.50% (Principal of $400,000 less Unamortized Discount of $4,625 and $5,375, respectively)*
395,375

 
394,625

CNX Midstream Partners LP Revolving Credit Facility*
311,750

 
84,000

Less: Unamortized Debt Issuance Costs
8,990

 
8,796

Long-Term Debt
$
2,754,443

 
$
2,378,205


*CNX is not a guarantor of CNXM's 6.50% senior notes due in March 2026 or CNXM's senior secured revolving credit facility.

At December 31, 2019, annual undiscounted maturities of CNX and CNXM long-term debt during the next five years and thereafter are as follows:
Year ended December 31,
Amount
2020
$
—

2021
—

2022
894,307

2023
—

2024
972,750

Thereafter
900,000

      Total Long-Term Debt Maturities
$
2,767,057



During the year ended December 31, 2019, CNX completed a private offering of $500,000 of 7.25% senior notes due in March 2027. The notes are guaranteed by most of CNX's subsidiaries but do not include CNXM's general partner or CNXM.

During the year ended December 31, 2019, CNX purchased $400,000 of its outstanding 5.875% senior notes due in April 2022. As part of this transaction, a loss of $7,614 was included in Loss on Debt Extinguishment in the Consolidated Statements of Income.
 
During the year ended December 31, 2018, CNXM completed a private offering of $400,000 of 6.50% senior notes due in March 2026 less $6,000 of unamortized bond discount. CNX is not a guarantor of CNXM's 6.50% senior notes due in March 2026 or CNXM's senior secured revolving credit facility.

During the year ended December 31, 2018, CNX purchased $411,375 of its outstanding 5.875% senior notes due in April 2022. As part of this transaction, a loss of $15,320 was included in Loss on Debt Extinguishment in the Consolidated Statements of Income.

During the year ended December 31, 2018, CNX called the $500,000 balance on its 8.00% senior notes due in April 2023. As part of this transaction, a loss of $38,798 was included in Loss on Debt Extinguishment in the Consolidated Statements of Income.
 
During the year ended December 31, 2017, CNX purchased $144,318 of its outstanding 5.875% senior notes due in April 2022. As part of this transaction, a loss of $110 was included in Loss on Debt Extinguishment in the Consolidated Statements of Income.

During the year ended December 31, 2017, CNX called the remaining $74,470 balance on its 8.25% senior notes due in April 2020 and the remaining $20,611 balance on its 6.375% senior notes due in March 2021. As part of these transactions, a loss of $2,019 was included in Loss on Debt Extinguishment in the Consolidated Statements of Income.
v3.19.3.a.u2
Leases
 12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Leases LEASES:
On January 1, 2019, the Company adopted ASU 2016-02, and all related amendments, using the transition method, which allows for a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. CNX elected the transition relief package of practical expedients by applying previous accounting conclusions under ASC 840 to all leases that existed prior to the transition date. As a result, CNX did not reassess 1) whether existing or expired contracts contain leases, 2) lease classification for any existing or expired leases or 3) whether lease origination costs qualified as initial direct costs. Additionally, the Company elected the short-term practical expedient for all asset classes by establishing an accounting policy to exclude leases with a term of 12 months or less. CNX will not separate lease components from non-lease components for any asset class. Lastly, CNX adopted the easement practical expedient, which allows the Company to apply ASC 842 prospectively to land easements after the adoption date. Easements that existed or expired prior to the adoption date that were not previously assessed under ASC 840 will not be reassessed.
CNX's leasing activities primarily consist of operating and finance leases for electric fracturing equipment, natural gas drilling rigs, CNX's corporate headquarters as well as field offices, a natural gas gathering pipeline and commercial vehicles. Some leases include options to renew ranging from a period of 1 to 10 years, which are not recognized as part of the lease right-of-use (ROU) assets or liabilities as they are not reasonably certain to be exercised.
Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of the lease payments over the lease term. As most of CNX's leases do not provide an implicit rate, an incremental borrowing rate is used to determine the present value of lease payments.
The components of lease cost were as follows:
 
For the Year Ended
 
December 31, 2019
Operating Lease Cost
$
73,809

Finance Lease Cost:
 
Amortization of Right-of-Use Assets
5,242

Interest on Lease Liabilities
1,241

Short-term Lease Cost
5,547

Variable Lease Cost*
17,337

Total Lease Cost
$
103,176

*Amount recognized in the Consolidated Balance Sheet for natural gas drilling rigs are measured using the rates that would be paid if the rigs were idle, as this represents the minimum payment that could be made under the contract. Variable lease cost represents amounts paid for natural gas drilling rigs above this minimum when the rigs are in use. Amount recognized in the Consolidated Balance Sheet for electric fracturing equipment are measured using minimum pumping hours under the contract; however, pumping hours may exceed the minimum and vary period to period. Any such amounts paid related to pumping hours in excess of the minimum represent variable lease cost.

Rental expense under operating leases prior to the adoption of ASC 842 was $21,441 and $16,797 for the years ended December 31, 2018 and 2017, respectively.
Amounts recognized in the Consolidated Balance Sheet are as follows:
 
December 31, 2019
Operating Leases:
 
Operating Lease Right-of-Use Asset
$
187,097

 
 
Current Portion of Operating Lease Obligations
$
61,670

Operating Lease Obligations
110,466

Total Operating Lease Liabilities
$
172,136

 
 
Finance Leases:
 
Property, Plant and Equipment
$
72,916

Less—Accumulated Depreciation, Depletion and Amortization
63,008

Property, Plant and Equipment—Net
$
9,908

 
 
Current Portion of Finance Lease Obligations
$
7,164

Finance Lease Obligations
7,706

Total Finance Lease Liabilities
$
14,870


Supplemental cash flow information related to leases was as follows:
 
For the Year Ended
 
December 31, 2019
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
 
Operating Cash Flows from Operating Leases
$
66,827

Operating Cash Flows from Finance Leases
$
1,241

Financing Cash Flows from Finance Leases
$
7,149

Right-of-Use Assets Obtained in Exchange for Lease Obligations:
 
Operating Leases
$
15,347

Finance Leases
$
1,846



Maturities of lease liabilities are as follows:
 
 
Operating
 
Finance
 
 
Leases
 
Leases
Year Ended December 31,
 
 
 
 
2020
 
$
68,663

 
$
7,968

2021
 
59,410

 
7,142

2022
 
23,789

 
436

2023
 
5,453

 
433

2024
 
5,433

 
127

Thereafter
 
30,822

 
—

Total Lease Payments
 
193,570

 
16,106

Less: Interest
 
21,434

 
1,236

Present Value of Lease Liabilities
 
$
172,136

 
$
14,870



Lease terms and discount rates are as follows:
 
December 31, 2019
Weighted Average Remaining Lease Term (years):
 
Operating Leases
4.39

Finance Leases
2.16

 
 
Weighted Average Discount Rate:
 
Operating Leases
4.96
%
Finance Leases
6.92
%
Leases LEASES:
On January 1, 2019, the Company adopted ASU 2016-02, and all related amendments, using the transition method, which allows for a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. CNX elected the transition relief package of practical expedients by applying previous accounting conclusions under ASC 840 to all leases that existed prior to the transition date. As a result, CNX did not reassess 1) whether existing or expired contracts contain leases, 2) lease classification for any existing or expired leases or 3) whether lease origination costs qualified as initial direct costs. Additionally, the Company elected the short-term practical expedient for all asset classes by establishing an accounting policy to exclude leases with a term of 12 months or less. CNX will not separate lease components from non-lease components for any asset class. Lastly, CNX adopted the easement practical expedient, which allows the Company to apply ASC 842 prospectively to land easements after the adoption date. Easements that existed or expired prior to the adoption date that were not previously assessed under ASC 840 will not be reassessed.
CNX's leasing activities primarily consist of operating and finance leases for electric fracturing equipment, natural gas drilling rigs, CNX's corporate headquarters as well as field offices, a natural gas gathering pipeline and commercial vehicles. Some leases include options to renew ranging from a period of 1 to 10 years, which are not recognized as part of the lease right-of-use (ROU) assets or liabilities as they are not reasonably certain to be exercised.
Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of the lease payments over the lease term. As most of CNX's leases do not provide an implicit rate, an incremental borrowing rate is used to determine the present value of lease payments.
The components of lease cost were as follows:
 
For the Year Ended
 
December 31, 2019
Operating Lease Cost
$
73,809

Finance Lease Cost:
 
Amortization of Right-of-Use Assets
5,242

Interest on Lease Liabilities
1,241

Short-term Lease Cost
5,547

Variable Lease Cost*
17,337

Total Lease Cost
$
103,176

*Amount recognized in the Consolidated Balance Sheet for natural gas drilling rigs are measured using the rates that would be paid if the rigs were idle, as this represents the minimum payment that could be made under the contract. Variable lease cost represents amounts paid for natural gas drilling rigs above this minimum when the rigs are in use. Amount recognized in the Consolidated Balance Sheet for electric fracturing equipment are measured using minimum pumping hours under the contract; however, pumping hours may exceed the minimum and vary period to period. Any such amounts paid related to pumping hours in excess of the minimum represent variable lease cost.

Rental expense under operating leases prior to the adoption of ASC 842 was $21,441 and $16,797 for the years ended December 31, 2018 and 2017, respectively.
Amounts recognized in the Consolidated Balance Sheet are as follows:
 
December 31, 2019
Operating Leases:
 
Operating Lease Right-of-Use Asset
$
187,097

 
 
Current Portion of Operating Lease Obligations
$
61,670

Operating Lease Obligations
110,466

Total Operating Lease Liabilities
$
172,136

 
 
Finance Leases:
 
Property, Plant and Equipment
$
72,916

Less—Accumulated Depreciation, Depletion and Amortization
63,008

Property, Plant and Equipment—Net
$
9,908

 
 
Current Portion of Finance Lease Obligations
$
7,164

Finance Lease Obligations
7,706

Total Finance Lease Liabilities
$
14,870


Supplemental cash flow information related to leases was as follows:
 
For the Year Ended
 
December 31, 2019
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
 
Operating Cash Flows from Operating Leases
$
66,827

Operating Cash Flows from Finance Leases
$
1,241

Financing Cash Flows from Finance Leases
$
7,149

Right-of-Use Assets Obtained in Exchange for Lease Obligations:
 
Operating Leases
$
15,347

Finance Leases
$
1,846



Maturities of lease liabilities are as follows:
 
 
Operating
 
Finance
 
 
Leases
 
Leases
Year Ended December 31,
 
 
 
 
2020
 
$
68,663

 
$
7,968

2021
 
59,410

 
7,142

2022
 
23,789

 
436

2023
 
5,453

 
433

2024
 
5,433

 
127

Thereafter
 
30,822

 
—

Total Lease Payments
 
193,570

 
16,106

Less: Interest
 
21,434

 
1,236

Present Value of Lease Liabilities
 
$
172,136

 
$
14,870



Lease terms and discount rates are as follows:
 
December 31, 2019
Weighted Average Remaining Lease Term (years):
 
Operating Leases
4.39

Finance Leases
2.16

 
 
Weighted Average Discount Rate:
 
Operating Leases
4.96
%
Finance Leases
6.92
%
v3.19.3.a.u2
Pension
 12 Months Ended
Dec. 31, 2019
Defined Contribution Plan [Abstract]  
Pension PENSION:
The benefits for the Defined Contribution Restoration Plan were frozen effective July 1, 2018. Employees hired after this date are not eligible for this benefit plan. In addition, current participants receive no further compensation credits after that date, with the last award being 2017. Annual interest credits will continue to be made in accordance with the terms of the plan. The freezing of the plan triggered a curtailment gain of $416 during the year ended December 31, 2018.

The current portion of the pension obligation is included in Other Accrued Liabilities and the noncurrent portion is included in Other liabilities in the Consolidated Balances Sheets. The reconciliation of changes in the benefit obligation, plan assets and funded status of the pension benefits is as follows:
 
 
December 31,
 
 
2019
 
2018
Change in Benefit Obligation:
 
 
 
 
Benefit Obligation at Beginning of Period
 
$
33,569

 
$
36,280

Service Cost
 
209

 
302

Interest Cost
 
1,338

 
1,265

Actuarial Loss (Gain)
 
4,865

 
(2,645
)
Plan Amendments
 
1,728

 
—

Plan Curtailments
 
—

 
(126
)
Benefits and Other Payments
 
(1,513
)
 
(1,507
)
Benefit Obligation at End of Period
 
$
40,196

 
$
33,569

 
 
 
 
 
Change in Plan Assets:
 
 
 
 
Fair Value of Plan Assets at Beginning of Period
 
$
—

 
$
—

Company Contributions
 
1,513

 
1,507

Benefits and Other Payments
 
(1,513
)
 
(1,507
)
Fair Value of Plan Assets at End of Period
 
$
—

 
$
—

 
 
 
 
 
Funded Status:
 
 
 
 
Current Liabilities
 
$
(1,587
)
 
$
(1,578
)
Noncurrent Liabilities
 
(38,609
)
 
(31,991
)
Net Obligation Recognized
 
$
(40,196
)
 
$
(33,569
)
 
 
 
 
 
Amounts Recognized in Accumulated Other Comprehensive Loss Consist of:
 
 
 
 
Net Actuarial Loss
 
$
15,361

 
$
10,738

Prior Service Cost (Credit)
 
1,727

 
(17
)
Total
 
17,088

 
10,721

Less: Tax Benefit
 
4,483

 
2,817

Net Amount Recognized
 
$
12,605

 
$
7,904



The components of the net periodic benefit cost are as follows:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Components of Net Periodic Benefit Cost:
 
 
 
 
 
Service Cost
$
209

 
$
302

 
$
375

Interest Cost
1,338

 
1,265

 
1,201

Amortization of Prior Service Credits
(17
)
 
(193
)
 
(362
)
Recognized Net Actuarial Loss
242

 
865

 
1,525

Curtailment Gain
—

 
(416
)
 
—

Net Periodic Benefit Cost
$
1,772

 
$
1,823

 
$
2,739



Amounts included in accumulated other comprehensive loss which are expected to be recognized in 2020 net periodic benefit cost:
 
 
Pension
 
 
Benefits
Prior Service Cost Recognition
 
$
(221
)
Actuarial Loss Recognition
 
$
(383
)


CNX utilizes a corridor approach to amortize actuarial gains and losses that have been accumulated under the pension plan. Cumulative gains and losses that are in excess of 10% of the greater of either the projected benefit obligation (PBO) or the market-related value of plan assets are amortized over the expected remaining future lifetime of all plan participants for the pension plan.

The following table provides information related to the pension plan with an accumulated benefit obligation in excess of plan assets:
 
 
As of December 31,
 
 
2019
 
2018
Projected Benefit Obligation
 
$
40,196

 
$
33,569

Accumulated Benefit Obligation
 
$
40,196

 
$
33,169

Fair Value of Plan Assets
 
$
—

 
$
—



Assumptions:

The weighted-average assumptions used to determine benefit obligations are as follows:
 
 
As of December 31,
 
 
2019
 
2018
Discount Rate
 
3.36
%
 
4.37
%
Rate of Compensation Increase
 
—
%
 
3.63
%

The discount rates are determined using a Company-specific yield curve model (above-mean) developed with the assistance of an external actuary. The Company-specific yield curve models (above-mean) use a subset of the expanded bond universe to determine the Company-specific discount rate. Bonds used in the yield curve are rated AA by Moody's or Standard & Poor's as of the measurement date. The yield curve models parallel the plans' projected cash flows, and the underlying cash flows of the bonds included in the models exceed the cash flows needed to satisfy the Company plans.

The weighted-average assumptions used to determine net periodic benefit cost are as follows:
 
For the Years ended December 31,
 
2019
 
2018
 
2017
Discount Rate
4.37
%
 
4.28
%
 
4.26
%
Rate of Compensation Increase
3.63
%
 
4.05
%
 
3.90
%


Cash Flows:

CNX expects to pay benefits of $1,588 from the non-qualified pension plan in 2020.
The following benefit payments, which reflect expected future service, are expected to be paid:
 
 
Pension
Year ended December 31,
 
Benefits
2020
 
$
1,588

2021
 
$
1,670

2022
 
$
1,760

2023
 
$
1,866

2024
 
$
2,063

Year 2025-2029
 
$
11,207
v3.19.3.a.u2
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Stock-Based Compensation STOCK-BASED COMPENSATION:
CNX's Equity Incentive Plan provides for grants of stock-based awards to key employees and to non-employee directors. Amendments to the Equity Incentive Plan have been adopted and approved by the Board of Directors and the Company's Shareholders since the commencement of the Equity Incentive Plan. Most recently, in May 2016, the Company's Shareholders adopted and approved a 10,550,000 increase to the total number of shares available for issuance, which brought the total number of shares of common stock that can be covered by grants in accordance with the terms of the Equity Incentive Plan, after adjustment for the separation of the coal business from the gas business on November 28, 2017, to 48,915,944. At December 31, 2019, 5,560,610 shares of common stock remained available for grant under the plan. The Equity Incentive Plan provides that the aggregate number of shares available for issuance will be reduced by one share for each share relating to stock options and by 1.62 for each share relating to Performance Share Units (PSUs) or Restricted Stock Units (RSUs). No award of stock options may be exercised under the Equity Incentive Plan after the tenth anniversary of the grant date of the award.

For those shares expected to vest, CNX recognizes stock-based compensation costs on a straight-line basis over the requisite service period of the award, which is generally the vesting term. Options and RSUs vest over a three-year term. PSUs vest over a five-year term at 20% per year subject to performance conditions. If an employee leaves the Company, all unvested shares are forfeited. CNX recognizes forfeitures as they occur. The vesting of all awards will accelerate in the event of death and disability and may accelerate upon a change in control of CNX.

Pursuant to the terms of the change in control severance agreements of certain employees and CNX officers, outstanding equity awards held by such employees vest upon a stockholder (or stockholder group) becoming the beneficial owner of more than 25% of the Company's outstanding common stock. During the year ended December 31, 2019, Southeastern Asset Management, Inc. and its affiliates ("SEAM") acquired shares of CNX's common stock in the open market which resulted in SEAM's aggregate share ownership exceeding more than 25% of CNX's common stock outstanding. This transaction, as such, constituted a change in control event under the severance agreements, resulting in the accelerated vesting of 473,126 restricted stock units and 903,100 performance share units held by the aforementioned employees that were issued prior to 2019. Those affected employees and officers each consented to waive the change in control vesting provision included in the change in control severance agreements with respect to their restricted stock unit and performance share unit awards that were issued during 2019. The accelerated vesting resulted in $19,654 of additional long-term equity-based compensation expense for the year ended December 31, 2019, and is included in Selling, General and Administrative Costs in the Consolidated Statements of Income. The performance share unit awards that vested continue to be subject to the attainment of performance goals as determined by the Compensation Committee of CNX's Board of Directors after the end of the applicable performance period.

The total stock-based compensation expense recognized relating to CNX shares during the years ended December 31, 2019, 2018 and 2017 was $36,545, $18,930 and $16,983, respectively.

As of December 31, 2019, CNX has $7,346 of unrecognized compensation cost related to all non-vested stock-based compensation awards, which is expected to be recognized over a weighted-average period of 2.24 years. When stock options are exercised, and restricted and performance stock unit awards become vested, the issuances are made from CNX's common stock shares.

Pursuant to the terms of the CNX Equity Plan and the outstanding awards, in the event of certain changes in the outstanding common stock of CNX or its capital structure, including by reason of a spin-off, the administrator of the CNX Equity Plan is required to appropriately adjust the number, exercise price, kind of shares, performance goals or other terms and conditions of Awards granted thereunder. In connection with the Separation, the Board of Directors of CNX has determined that it is appropriate that the outstanding awards be equitably adjusted pursuant to the terms of the CNX Equity Plan and/or converted into awards issued under the CONSOL Energy Inc. (CEIX) Equity Incentive Plan, such that the intrinsic value of the outstanding awards immediately following the separation remains the same as the intrinsic value of such awards immediately prior to the Separation. The separation resulted in a modification of the equity plans but did not have a material impact on the financial statements as of the date of Separation (See Note 5 - Discontinued Operations for more information).
Stock Options:
CNX examined its historical pattern of option exercises in an effort to determine if there were any discernible activity patterns based on certain employee populations. From this analysis, CNX identified two distinct employee populations and used the Black-Scholes option pricing model to value the options for each of the employee populations. The expected term computation presented in the table below is based upon a weighted average of the historical exercise patterns and post-vesting termination behavior of the two populations. The risk-free interest rate was determined for each vesting tranche of an award based upon the calculated yield on U.S. Treasury obligations for the expected term of the award. A combination of historical and implied volatility is used to determine expected volatility and future stock price trends. The total fair value of options granted during the years ended December 31, 2019, 2018 and 2017 was $50, $143, and $353 respectively, based on the following assumptions and weighted average fair values:
 
 
December 31,
 
 
2019
 
2018
 
2017
Weighted Average Fair Value of Grants
 
$
3.48

 
$
6.50

 
$
6.19

Risk-free Interest Rate
 
2.13
%
 
2.66
%
 
1.66
%
Expected Dividend Yield
 
—
%
 
—
%
 
—
%
Expected Forfeiture Rate
 
—
%
 
—
%
 
—
%
Expected Volatility
 
43.60
%
 
52.68
%
 
50.85
%
Expected Term in Years
 
6.50

 
3.71

 
3.71


A summary of the status of stock options granted is presented below:
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
Average
 
 
 
 
 
 
Weighted
 
Remaining
 
Aggregate
 
 
 
 
Average
 
Contractual
 
Intrinsic
 
 
 
 
Exercise
 
Term (in
 
Value (in
 
 
Shares
 
Price
 
years)
 
thousands)
Outstanding at December 31, 2018
 
5,442,920

 
$
18.74

 
 
 
 
Granted
 
14,368

 
$
7.54

 
 
 
 
Exercised
 
(79,468
)
 
$
6.87

 
 
 
 
Forfeited
 
(4,208
)
 
$
6.87

 
 
 
 
Expired
 
(677,348
)
 
$
24.29

 
 
 
 
Outstanding at December 31, 2019
 
4,696,264

 
$
18.05

 
4.49
 
$
5,280

Exercisable at December 31, 2019
 
4,681,896

 
$
18.04

 
4.47
 
$
5,261


At December 31, 2019, there are 4,224,415 employee stock options outstanding under the Equity Incentive Plan. Non-employee director stock options vest one year after the grant date. There are 471,849 stock options outstanding under these grants.

The aggregate intrinsic value in the table above represents the total pretax intrinsic value (the difference between CNX's closing stock price on the last trading day of the year ended December 31, 2019 and the option's exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on December 31, 2019. This amount varies based on the fair market value of CNX's stock. The total intrinsic value of options exercised for the years ended December 31, 2019, 2018 and 2017 was $175, $2,077, and $1,067, respectively.

Cash received from option exercises for the years ended December 31, 2019, 2018 and 2017 was $546, $1,714 and $1,002, respectively. The tax impact from option exercises totaled $46, $569 and $205 for the years ended December 31, 2019, 2018 and 2017, respectively.

Restricted Stock Units:

Under the Equity Incentive Plan, CNX grants certain employees and non-employee directors RSU awards, which entitle the holder to receive shares of common stock as the award vests. Non-employee director RSUs vest at the end of one year. Compensation expense is recognized over the vesting period of the units, described above. The total fair value of RSUs granted during the years ended December 31, 2019, 2018 and 2017 was $10,844, $13,768 and $14,328, respectively. The total fair value of restricted stock units vested during the years ended December 31, 2019, 2018 and 2017 was $10,391, $6,437 and $12,805, respectively. The following table represents the nonvested restricted stock units and their corresponding fair value (based upon the closing share price) at the date of grant:
 
 
Number of
 
Weighted Average
 
 
Shares
 
Grant Date Fair Value
Nonvested at December 31, 2018
 
1,427,151

 
$14.30
Granted
 
963,426

 
$11.26
Vested
 
(1,052,235
)
 
$14.27
Forfeited
 
(305,142
)
 
$13.50
Nonvested at December 31, 2019
 
1,033,200

 
$11.71

Performance Share Units:
Under the Equity Incentive Plan, CNX grants certain employees performance share unit awards, which entitle the holder to shares of common stock subject to the achievement of certain market and performance goals. Compensation expense is recognized over the performance measurement period of the units in accordance with the provisions of the Stock Compensation Topic of the FASB Accounting Standards Codification for awards with market and performance vesting conditions. The total fair value of performance share units granted during the years ended December 31, 2019, 2018 and 2017 was $6,741, $8,570 and $9,789, respectively. The total fair value of performance share units vested during the years ended December 31, 2019, 2018 and 2017 was $4,668, $7,547 and $17,646, respectively. The following table represents the nonvested performance share units and their corresponding fair value (based upon the Monte Carlo Methodology) on the date of grant:
 
 
Number of
 
Weighted Average
 
 
Shares
 
Grant Date Fair Value
Nonvested at December 31, 2018
 
1,344,985

 
$19.93
Granted
 
407,056

 
$16.56
PSUs Issued as a Result of 200% Payout
 
156,918

 
$22.63
Vested
 
(345,282
)
 
$22.21
Forfeited
 
(162,841
)
 
$17.83
Nonvested at December 31, 2019
 
1,400,836

 
$18.91


Performance Options:

Under the Equity Incentive Plan in 2010, CNX granted certain employees performance options, which entitled the holder to shares of common stock subject to the achievement of certain performance goals. Compensation expense was recognized over the vesting period of the options. The Black-Scholes option valuation model was used to value each tranche separately. There have been no performance options granted since 2010. There were 927,268 performance options outstanding and exercisable at a weighted average exercise price of $39.00 and a weighted average remaining contractual term of 0.46 years as of December 31, 2019.
v3.19.3.a.u2
Supplemental Cash Flow Information
 12 Months Ended
Dec. 31, 2019
Supplemental Cash Flow Information [Abstract]  
Supplemental Cash Flow Information SUPPLEMENTAL CASH FLOW INFORMATION:
The following are non-cash transactions that impact the investing and financing activities of CNX. For non-cash transactions that relate to the separation, as well as acquisitions and dispositions, see Note 5 - Discontinued Operations and Note 6 - Acquisitions and Dispositions.
As of December 31, 2019, 2018 and 2017, CNX purchased goods and services related to capital projects in the amount of $43,982, $58,246 and $35,437, respectively, which are included in accounts payable.

The following table shows cash paid (received):
 
 
For the Years Ended December 31,
 
 
2019
 
2018
 
2017
Interest (Net of Amounts Capitalized)
 
$
143,111

 
$
144,756

 
$
152,047

Income Taxes
 
$
(138,409
)
 
$
(11,505
)
 
$
(121,773
)
v3.19.3.a.u2
Concentrations of Credit Risk and Major Customers
 12 Months Ended
Dec. 31, 2019
Risks and Uncertainties [Abstract]  
Concentration of Credit Risk and Major Customers CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS:
CNX markets natural gas primarily to gas wholesalers in the United States. Concentration of credit risk is summarized below:
 
 
December 31,
 
 
2019
 
2018
Gas Wholesalers
 
$
115,641

 
$
232,638

NGL, Condensate & Processing Facilities

 
10,140

 
12,595

Other
 
7,699

 
7,191

Total Accounts Receivable Trade
 
$
133,480

 
$
252,424


As of December 31, 2019, receivables of $23,859 and $15,401 due from Direct Energy Business Marketing LLC and NJR Energy Services Company, respectively, were included in the Gas Wholesalers balance above. As of December 31, 2018, receivables of $30,872 and $26,417 due from NJR Energy Services Company and Direct Energy Business Marketing LLC, respectively, were included. No other customers made up more than 10% of the total balances.
During the year ended December 31, 2019 sales to Direct Energy Business Marketing LLC were $214,980 and sales to NJR Energy Services Company were $147,540, each of which comprised over 10% of the Company's revenue from contracts with external customers for the period.
During the year ended December 31, 2018, sales to NJR Energy Services Company were $219,472 and sales to Direct Energy Business Marketing LLC were $184,668, each of which comprised over 10% of the Company's revenue from contracts with external customers for the period.
During the year ended December 31, 2017, sales to Direct Energy Business Marketing LLC were $153,565 and sales to NJR Energy Services Company were $147,595, each of which comprised over 10% of the Company's revenue from contracts with external customers for the period.
v3.19.3.a.u2
Fair Value of Financial Instruments
 12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments FAIR VALUE OF FINANCIAL INSTRUMENTS:
CNX determines the fair value of assets and liabilities based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The fair values are based on assumptions that market participants would use when pricing an asset or liability, including assumptions about risk and the risks inherent in valuation techniques and the inputs to valuations. The fair value hierarchy is based on whether the inputs to valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources (including NYMEX forward curves, LIBOR-based discount rates and basis forward curves), while unobservable inputs reflect the Company's own assumptions of what market participants would use.
The fair value hierarchy includes three levels of inputs that may be used to measure fair value as described below:
Level One - Quoted prices for identical instruments in active markets.
Level Two - The fair value of the assets and liabilities included in Level 2 are based on standard industry income approach models that use significant observable inputs, including NYMEX forward curves, LIBOR-based discount rates and basis forward curves.
Level Three - Unobservable inputs significant to the fair value measurement supported by little or no market activity.
In those cases when the inputs used to measure fair value meet the definition of more than one level of the fair value hierarchy, the lowest level input that is significant to the fair value measurement in its totality determines the applicable level in the fair value hierarchy.
The financial instrument measured at fair value on a recurring basis is summarized below:
 
Fair Value Measurements at
December 31, 2019
 
Fair Value Measurements at
December 31, 2018
Description
Level 1
 
Level 2
 
Level 3
 
Level 1
 
Level 2
 
Level 3
Gas Derivatives
$
—

 
$
405,781

 
$
—

 
$
—

 
$
99,456

 
$
—


The carrying amounts and fair values of financial instruments for which the fair value option was not elected are as follows:
 
December 31, 2019
 
December 31, 2018
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
Cash and Cash Equivalents
$
16,283

 
$
16,283

 
$
17,198

 
$
17,198

Long-Term Debt (Excluding Debt Issuance Costs)
$
2,763,433

 
$
2,619,676

 
$
2,387,001

 
$
2,290,537


Cash and cash equivalents represent highly-liquid instruments and constitute Level 1 fair value measurements. Certain of the Company’s debt is actively traded on a public market and, as a result, constitute Level 1 fair value measurements. The portion of the Company’s debt obligations that is not actively traded is valued through reference to the applicable underlying benchmark rate and, as a result, constitute Level 2 fair value measurements.
v3.19.3.a.u2
Derivative Instruments
 12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments DERIVATIVE INSTRUMENTS:

In June 2019, CNX entered into an interest rate swap agreement to manage its exposure to interest rate volatility. The interest rate swap agreement relates to $160,000 of borrowings under CNX’s senior secured revolving credit facility (See Note 12 - Revolving Credit Facilities) and has the economic effect of modifying the variable-interest obligation into a fixed-interest obligation over a three-year period.

The change in fair value of the interest rate swap agreement is accounted for on a mark-to-market basis with changes in fair value recorded in current period earnings. The fair value at December 31, 2019 and the corresponding change in fair value from inception through December 31, 2019 was nominal.

CNX enters into financial derivative instruments to manage its exposure to commodity price volatility. These natural gas and NGL commodity hedges are accounted for on a mark-to-market basis with changes in fair value recorded in current period earnings.

CNX is exposed to credit risk in the event of non-performance by counterparties. The creditworthiness of counterparties is subject to continuing review. The Company has not experienced any issues of non-performance by derivative counterparties.

None of the Company's counterparty master agreements currently require CNX to post collateral for any of its positions. However, as stated in the counterparty master agreements, if CNX's obligations with one of its counterparties cease to be secured on the same basis as similar obligations with the other lenders under the credit facility, CNX would have to post collateral for instruments in a liability position in excess of defined thresholds. All of the Company's derivative instruments are subject to master netting arrangements with its counterparties. CNX recognizes all financial derivative instruments as either assets or liabilities at fair value in the Consolidated Balance Sheets on a gross basis.

Each of the Company's counterparty master agreements allows, in the event of default, the ability to elect early termination of outstanding contracts. If early termination is elected, CNX and the applicable counterparty would net settle all open hedge positions.

The total notional amounts of production of CNX's derivative instruments were as follows:
 
December 31,
 
Forecasted to
 
2019
 
2018
 
Settle Through
Natural Gas Commodity Swaps (Bcf)
1,460.6

 
1,484.4

 
2025
Natural Gas Basis Swaps (Bcf)
1,290.4

 
1,056.6

 
2025

The gross fair value of CNX's derivative instruments was as follows:
Asset Derivative Instruments
 
Liability Derivative Instruments
 
December 31,
 
 
December 31,
 
2019
 
2018
 
 
2019
 
2018
Commodity Swaps:
 
 
 
 
 
 
 
Current Assets
$
234,238

 
$
28,612

 
Current Liabilities
$
345

 
$
34,640

Other Assets
288,543

 
164,310

 
Non-Current Liabilities
9,693

 
52,011

Total Asset
$
522,781

 
$
192,922

 
Total Liability
$
10,038

 
$
86,651

 
 
 
 
 
 
 
 
 
Basis Only Swaps:
 
 
 
 
 
 
 
 
Current Assets
$
13,556

 
$
11,628

 
Current Liabilities
$
40,626

 
$
27,021

Other Assets
25,553

 
48,788

 
Non-Current Liabilities
105,445

 
40,210

Total Asset
$
39,109

 
$
60,416

 
Total Liability
$
146,071

 
$
67,231



The effect of derivative instruments on the Company's Consolidated Statements of Income was as follows:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Cash Received (Paid) in Settlement of Commodity Derivative Instruments:
 
 
 
 
 
  Commodity Swaps:
 
 
 
 
 
    Natural Gas
$
82,899

 
$
(41,098
)
 
$
(34,928
)
    Propane
—

 
—

 
(1,216
)
  Natural Gas Basis Swaps
(13,119
)
 
(28,622
)
 
(5,030
)
Total Cash Received (Paid) in Settlement of Commodity Derivative Instruments
69,780

 
(69,720
)
 
(41,174
)
 
 
 
 
 
 
Unrealized Gain (Loss) on Commodity Derivative Instruments:
 
 
 
 
 
  Commodity Swaps:
 
 
 
 
 
    Natural Gas
406,472

 
33,026

 
319,605

    Propane
—

 
—

 
1,147

  Natural Gas Basis Swaps
(100,147
)
 
6,482

 
(72,648
)
Total Unrealized Gain on Commodity Derivative Instruments
306,325

 
39,508

 
248,104

 
 
 
 
 
 
Gain (Loss) on Commodity Derivative Instruments:
 
 
 
 
 
  Commodity Swaps:
 
 
 
 
 
    Natural Gas
$
489,371

 
$
(8,072
)
 
$
284,677

    Propane
—

 
—

 
(69
)
  Natural Gas Basis Swaps
(113,266
)
 
(22,140
)
 
(77,678
)
Total Gain (Loss) on Commodity Derivative Instruments
$
376,105

 
$
(30,212
)
 
$
206,930


    
The Company also enters into fixed price natural gas sales agreements that are satisfied by physical delivery. These physical commodity contracts qualify for the normal purchases and normal sales exception and are not subject to derivative instrument accounting.
v3.19.3.a.u2
Commitments and Contingent Liabilities
 12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingent Liabilities COMMITMENTS AND CONTINGENT LIABILITIES:

CNX and its subsidiaries are subject to various lawsuits and claims with respect to such matters as personal injury, royalty accounting, damage to property, climate change, governmental regulations including environmental violations and remediation, employment and contract disputes and other claims and actions arising out of the normal course of business. CNX accrues the estimated loss for these lawsuits and claims when the loss is probable and can be estimated. The Company's current estimated accruals related to these pending claims, individually and in the aggregate, are immaterial to the financial position, results of operations or cash flows of CNX. It is possible that the aggregate loss in the future with respect to these lawsuits and claims could
ultimately be material to the financial position, results of operations or cash flows of CNX; however, such amounts cannot be reasonably estimated.
At December 31, 2019, CNX has provided the following financial guarantees, unconditional purchase obligations, and letters of credit to certain third-parties as described by major category in the following tables. These amounts represent the maximum potential of total future payments that the Company could be required to make under these instruments. These amounts have not been reduced for potential recoveries under recourse or collateralization provisions. Generally, recoveries under reclamation bonds would be limited to the extent of the work performed at the time of the default. No amounts related to these unconditional purchase obligations and letters of credit are recorded as liabilities in the financial statements. CNX management believes that the commitments in the following table will expire without being funded, and therefore will not have a material adverse effect on financial condition.

 
Amount of Commitment Expiration Per Period
 
Total
Amounts
Committed
 
Less Than
1  Year
 
1-3 Years
 
3-5 Years
 
Beyond
5  Years
Letters of Credit:
 
 
 
 
 
 
 
 
 
Firm Transportation
$
197,776

 
$
148,526

 
$
49,250

 
$
—

 
$
—

Other
6,950

 
6,200

 
750

 
—

 
—

Total Letters of Credit
204,726

 
154,726

 
50,000

 
—

 
—

Surety Bonds:
 
 
 
 
 
 
 
 
 
Employee-Related
2,600

 
2,600

 
—

 
—

 
—

Environmental
12,763

 
12,503

 
260

 
—

 
—

Financial Guarantees
81,670

 
81,670

 
—

 
—

 
—

Other
9,254

 
7,970

 
1,284

 
—

 
—

Total Surety Bonds
106,287

 
104,743

 
1,544

 
—

 
—

Total Commitments
$
311,013

 
$
259,469

 
$
51,544

 
$
—

 
$
—



Excluded from the above table are commitments and guarantees entered into in conjunction with the spin-off of the Company's coal business (See Note 5 - Discontinued Operations). Although CONSOL Energy has agreed to indemnify CNX to the extent that CNX would be called upon to pay any of these liabilities, there is no assurance that CONSOL Energy will satisfy its obligations to indemnify CNX in the event that CNX is so called upon.

CNX enters into long-term unconditional purchase obligations to procure major equipment purchases, natural gas firm transportation, gas drilling services and other operating goods and services. These purchase obligations are not recorded in the Consolidated Balance Sheets. As of December 31, 2019, the purchase obligations for each of the next five years and beyond were as follows:
Obligations Due
Amount
Less than 1 year
$
256,613

1 - 3 years
483,807

3 - 5 years
406,915

More than 5 years
1,072,748

Total Purchase Obligations
$
2,220,083
v3.19.3.a.u2
Variable Interest Entities
 12 Months Ended
Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Variable Interest Entities VARIABLE INTEREST ENTITIES:

The Company determined CNXM, of which the Company owned an approximately 34% limited partner interest (prior to the IDR Elimination transaction - See Note 25 - Subsequent Event) and 100% of the general partner interest, to be a variable interest entity. As a result of the Midstream Acquisition (see Note 6 - 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 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, 2019 filed with the SEC on February 10, 2020 and its other periodic reports filed thereafter.

The following table presents amounts included in the Company's Consolidated Balance Sheets that were for the use or obligation of CNXM:
 
December 31,
 
2019
 
2018
Assets:
 
 
 
Cash
$
31

 
$
3,966

Receivables - Related Party
21,076

 
17,073

Receivables - Third Party
7,935

 
7,028

Other Current Assets
1,976

 
2,383

Property, Plant and Equipment, net
1,195,591

 
891,775

Operating Lease ROU Asset
4,731

 
—

Other Assets
3,262

 
3,203

Total Assets
$
1,234,602

 
$
925,428

Liabilities:
 
 
 
Accounts Payable and Accrued Liabilities
$
67,290

 
$
43,919

Accounts Payable - Related Party
4,787

 
4,980

Revolving Credit Facility
311,750

 
84,000

Long-Term Debt
394,162

 
393,215

Total Liabilities
$
777,989

 
$
526,114


The following table summarizes CNXM's Consolidated Statements of Operations and Cash Flows, inclusive of affiliate amounts:
 
For the Years Ended December 31,
 
2019
 
2018
Revenue
 
 
 
Gathering Revenue - Related Party
$
231,482

 
$
167,048

Gathering Revenue - Third Party
74,315

 
89,620

Total Revenue
305,797

 
256,668

Expenses
 
 
 
Operating Expense - Related Party
22,943

 
19,814

Operating Expense - Third Party
23,964

 
27,343

General and Administrative Expense - Related Party
15,928

 
13,867

General and Administrative Expense - Third Party
5,769

 
8,595

Loss on Asset Sales and Abandonments, net
7,229

 
2,501

Depreciation Expense
24,371

 
21,939

Interest Expense
30,293

 
23,614

Total Expense
130,497

 
117,673

Net Income
$
175,300

 
$
138,995

 
 
 
 
Net Cash Provided by Operating Activities
$
217,062

 
$
180,115

Net Cash Used in Investing Activities
$
(327,615
)
 
$
(138,869
)
Net Cash Provided by (Used in) Financing Activities
$
106,618

 
$
(40,474
)

Prior to the acquisition of Noble's interest on January 3, 2018, CNX accounted for its interests in CNX Gathering and CNXM as an equity-method investment. The following transactions were included in Other Operating Income and Transportation, Gathering and Compression in the Consolidated Statements of Income:
 
For the Year Ended
 
December 31, 2017
Other Operating Income:
 
     Equity in Earnings of Affiliates - CNX Gathering
$
9,823

     Equity in Earnings of Affiliates - CNXM
$
38,523

 
 
Transportation, Gathering and Compression:
 
     Gathering Services - CNX Gathering
$
914

     Gathering Services - CNXM
$
136,068



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 considerations with proceeds from the issuance of its 6.50% senior notes due 2026 (See Note 14 - Long-Term Debt).

At December 31, 2019 and 2018, CNX had a net payable of $16,362 and $12,202, respectively, due to CNX Gathering and CNXM, primarily for accrued but unpaid gathering services.
v3.19.3.a.u2
Segment Information
 12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION:

CNX consists of two principal business divisions: Exploration and Production (E&P) and Midstream. The principal activity of the E&P Division, which includes four reportable segments, is to produce pipeline quality natural gas for sale primarily to gas wholesalers. The E&P Division's reportable segments are Marcellus Shale, Utica Shale, Coalbed Methane and Other Gas. The Other Gas Segment is primarily related to shallow oil and gas production which is not significant to the Company due to the sale of substantially all of CNX's shallow oil and gas assets in the 2018 period (See Note 6 - Acquisitions and Dispositions for more information). It also includes the Company's purchased gas activities, unrealized gain or loss on commodity derivative instruments, exploration and production related other costs, impairments of exploration and production properties and unproved properties and expirations, as well as various other operating activities assigned to the E&P Division but not allocated to each individual segment.
CNX's Midstream Division's principal activity is the ownership, operation, development and acquisition of natural gas gathering and other midstream energy assets of CNX Gathering and CNXM, which provide natural gas gathering services for the Company's produced gas, as well as for other independent third-parties in the Marcellus Shale and Utica Shale in Pennsylvania and West Virginia. Excluded from the Midstream Division are the gathering assets and operations of CNX that have not been contributed to CNX Gathering and CNXM. As a result of the Midstream Acquisition (See Note 6 - Acquisitions and Dispositions for more information), CNX owns and controls 100% of CNX Gathering, making CNXM a single-sponsor master limited partnership and thus the Company began consolidating CNXM on January 3, 2018. The Midstream Division is comprised of a single Midstream segment.
The Company's unallocated expenses include other expense, gain on asset sales related to non-core assets, gain on previously held equity interest, loss on debt extinguishment, impairment of other intangible assets and income taxes.
In the preparation of the following information, intersegment sales have been recorded at amounts approximating market prices. Operating profit for each segment is based on sales less identifiable operating and non-operating expenses. Assets are reflected at the division level for E&P and are not allocated between each individual E&P segment. These assets are not allocated to each individual segment due to the diverse asset base controlled by CNX, whereby each individual asset may service more than one segment within the division. An allocation of such asset base would not be meaningful or representative on a segment by segment basis.
Industry segment results for the year ended December 31, 2019 are:
 
Marcellus
Shale
 
Utica Shale
 
Coalbed
Methane
 
Other
Gas
 
Total E&P
 
Midstream
 
Unallocated
 
Intercompany Eliminations
 
Consolidated
 
Natural Gas, NGLs and Oil Revenue
$
934,728

 
$
264,548

 
$
163,893

 
$
1,156

 
$
1,364,325

 
$
—

 
$
—

 
$
—

 
$
1,364,325

(A)
Purchased Gas Revenue
—

 
—

 
—

 
94,027

 
94,027

 
—

 
—

 
—

 
94,027

 
Midstream Revenue
—

 
—

 
—

 
—

 
—

 
307,024

 
—

 
(232,710
)
 
74,314

  
Gain on Commodity Derivative Instruments
47,475

 
14,943

 
7,335

 
306,352

 
376,105

 
—

 
—

 
—

 
376,105

 
Other Operating Income
—

 
—

 
—

 
14,057

 
14,057

 
—

 
—

 
(379
)
 
13,678

(B)
Total Revenue and Other Operating Income
$
982,203

 
$
279,491

 
$
171,228

 
$
415,592

 
$
1,848,514

 
$
307,024

 
$
—

 
$
(233,089
)
 
$
1,922,449

  
Earnings (Loss) From Continuing Operations Before Income Tax
$
234,284

 
$
87,972

 
$
35,170

 
$
(497,869
)
 
$
(140,443
)
 
$
166,654

 
$
33,473

 
$
—

 
$
59,684

 
Segment Assets
 
 
 
 
 
 
 
 
$
6,745,091

 
$
2,230,676

 
$
78,708

 
$
6,331

 
$
9,060,806

(C)
Depreciation, Depletion and Amortization
 
 
 
 
 
 
 
 
$
474,352

 
$
34,111

 
$
—

 
$
—

 
$
508,463

  
Capital Expenditures
 
 
 
 
 
 
 
 
$
867,860

 
$
324,739

 
$
—

 
$
—

 
$
1,192,599

  

(A)
Included in Total Natural Gas, NGLs and Oil Revenue are sales of $214,980 to Direct Energy Business Marketing LLC and $147,540 to NJR Energy Services Company, each of which comprises over 10% of revenue from contracts with external customers for the period.
(B)
Includes equity in earnings of unconsolidated affiliates of $2,103 for Total E&P.
(C)
Includes investments in unconsolidated equity affiliates of $16,710 for Total E&P.

Industry segment results for the year ended December 31, 2018 are:
 
Marcellus
Shale
 
Utica Shale
 
Coalbed
Methane
 
Other
Gas
 
Total
E&P
 
Midstream
 
Unallocated
 
Intercompany Eliminations
 
Consolidated
 
Natural Gas, NGLs and Oil Revenue
$
903,316

 
$
445,880

 
$
212,884

 
$
15,857

 
$
1,577,937

 
$
—

 
$
—

 
$
—

 
$
1,577,937

(D)
Purchased Gas Revenue
—

 
—

 
—

 
65,986

 
65,986

 
—

 
—

 
—

 
65,986

 
Midstream Revenue
—

 
—

 
—

 
—

 
—

 
258,074

 
—

 
(168,293
)
 
89,781

 
(Loss) Gain on Commodity Derivative Instruments

(40,444
)
 
(19,882
)
 
(8,767
)
 
38,881

 
(30,212
)
 
—

 
—

 
—

 
(30,212
)
  
Other Operating Income
—

 
—

 
—

 
27,218

 
27,218

 
—

 
—

 
(276
)
 
26,942

(E)
Total Revenue and Other Operating Income
$
862,872

 
$
425,998

 
$
204,117

 
$
147,942

 
$
1,640,929

 
$
258,074

 
$
—

 
$
(168,569
)
 
$
1,730,434

  
Earnings (Loss) From Continuing Operations Before Income Tax
$
254,310

 
$
194,164

 
$
49,719

 
$
(253,577
)
 
$
244,616

 
$
133,811

 
$
720,241

 
$
—

 
$
1,098,668

 
Segment Assets
 
 
 
 
 
 
 
 
$
6,518,597

 
$
1,919,117

 
$
166,679

 
$
(12,223
)
 
$
8,592,170

(F)
Depreciation, Depletion and Amortization
 
 
 
 
 
 
 
 
$
461,149

 
$
32,274

 
$
—

 
$
—

 
$
493,423

  
Capital Expenditures
 
 
 
 
 
 
 
 
$
974,059

 
$
142,338

 
$
—

 
$
—

 
$
1,116,397

 
 
(D)
Included in Total Natural Gas, NGLs and Oil Revenue are sales of $219,472 to NJR Energy Services Company and $184,668 to Direct Energy Business Marketing LLC, each of which comprises over 10% of revenue from contracts with external customers for the period.
(E)
Includes equity in earnings of unconsolidated affiliates of $5,363 for Total E&P.
(F)
Includes investments in unconsolidated equity affiliates of $18,663 for Total E&P.
Industry segment results for the year ended December 31, 2017 are:
 
Marcellus
Shale
 
Utica Shale
 
Coalbed
Methane
 
Other
Gas
 
Total
E&P
 
Unallocated
 
Consolidated
 
Natural Gas, NGLs and Oil Revenue
$
646,188

 
$
217,020

 
$
208,677

 
$
53,339

 
$
1,125,224

 
$
—

 
$
1,125,224

(G)
Purchased Gas Revenue
—

 
—

 
—

 
53,795

 
53,795

 
—

 
53,795

 
(Loss) Gain on Commodity Derivative Instruments

(30,336
)
 
1,367

 
(9,589
)
 
245,488

 
206,930

 
—

 
206,930

  
Other Operating Income
—

 
—

 
—

 
69,182

 
69,182

 
—

 
69,182

(H)
Total Revenue and Other Operating Income
$
615,852

 
$
218,387

 
$
199,088

 
$
421,804

 
$
1,455,131

 
$
—

 
$
1,455,131

  
Earnings (Loss) From Continuing Operations Before Income Tax
$
91,436

 
$
64,741

 
$
20,346

 
$
(240,050
)
 
$
(63,527
)
 
$
182,108

 
$
118,581

 
Segment Assets
 
 
 
 
 
 
 
 
$
6,391,223

 
$
540,690

 
$
6,931,913

(I)
Depreciation, Depletion and Amortization
 
 
 
 
 
 
 
 
$
412,036

 
$
—

 
$
412,036

  
Capital Expenditures
 
 
 
 
 
 
 
 
$
632,846

 
$
—

 
$
632,846

 
 
(G)
Included in Total Natural Gas, NGLs and Oil Revenue are sales of $153,656 to Direct Energy Business Marketing LLC and $147,595 to NJR Energy Services Company, each of which comprises over 10% of revenue from contracts with external customers for the period.
(H)
Includes equity in earnings of unconsolidated affiliates of $49,830 for Total E&P.
(I)
Includes investments in unconsolidated equity affiliates of $197,921 for Total E&P.
Reconciliation of Segment Information to Consolidated Amounts:

Revenue and Other Operating Income:
 
 
For the Years Ended December 31,
 
 
2019
 
2018
 
2017
Total Segment Revenue from Contracts with External Customers
 
$
1,532,666

 
$
1,733,704

 
$
1,179,019

Gain (Loss) on Commodity Derivative Instruments
 
376,105

 
(30,212
)
 
206,930

Other Operating Income
 
13,678

 
26,942

 
69,182

Total Consolidated Revenue and Other Operating Income
 
$
1,922,449

 
$
1,730,434

 
$
1,455,131



Earnings (Loss) From Continuing Operations Before Income Tax:
 
 
For the Years Ended December 31,
 
 
2019
 
2018
 
2017
Segment Earnings (Loss) Before Income Taxes for Reportable Business Segments:
 
 
 
 
 
 
E&P
 
$
(140,443
)
 
$
244,616

 
$
(63,527
)
Midstream
 
166,654

 
133,811

 
—

Total Segment Earnings (Loss) Before Income Taxes for Reportable Business Segments
 
26,211

 
378,427

 
(63,527
)
Unallocated Expenses:
 
 
 
 
 
 
Other (Expense) Income
 
(1,396
)
 
14,571

 
(3,826
)
Gain on Certain Asset Sales
 
42,483

 
154,775

 
188,063

Gain on Previously Held Equity Interest
 
—

 
623,663

 
—

Loss on Debt Extinguishment
 
(7,614
)
 
(54,118
)
 
(2,129
)
Impairment of Other Intangible Assets
 
—

 
(18,650
)
 
—

Earnings from Continuing Operations Before Income Tax
 
$
59,684

 
$
1,098,668

 
$
118,581



Total Assets:
 
 
December 31,
 
2019
 
2018
Segment Assets for Total Reportable Business Segments:
 
 
 
 
E&P
 
$
6,745,091

 
$
6,518,597

Midstream
 
2,230,676

 
1,919,117

Intercompany Eliminations
 
6,331

 
(12,223
)
Items Excluded from Segment Assets:
 
 
 
 
Cash and Cash Equivalents
 
16,283

 
17,198

Recoverable Income Taxes
 
62,425

 
149,481

Total Consolidated Assets
 
$
9,060,806

 
$
8,592,170
v3.19.3.a.u2
Subsequent Events
 12 Months Ended
Dec. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events SUBSEQUENT EVENT
On January 29, 2020, CNX and CNXM entered into and closed definitive agreements to eliminate CNXM’s IDRs held by its general partner and to convert the 2.0% general partner interest in CNXM into a non-economic general partnership interest (collectively, the "IDR Elimination Transaction"). 

Pursuant to the IDR Elimination Transaction agreements, CNX will receive the following consideration in exchange for the IDRs and the 2.0% general partner interest:

•
26 million CNXM common units;
•
3 million new CNXM Class B units. The newly issued Class B units will not receive or accrue distributions until January 1, 2022, at which time they will automatically convert into CNXM common units on a one-for-one basis; and
•
$135,000 to be paid in three installments of $50,000 due December 31, 2020, $50,000 due December 31, 2021 and $35,000 due December 31, 2022.

As a result of the IDR Elimination Transaction, CNX now owns 47.7 million common units, or approximately 53.1%, of the outstanding limited partner interests in CNXM, excluding the Class B units. Upon conversion of the Class B units to CNXM common units on January 1, 2022, CNX's ownership will increase to 50.7 million units on a pro forma basis.
v3.19.3.a.u2
Supplemental Gas Data (unaudited)
 12 Months Ended
Dec. 31, 2019
Extractive Industries [Abstract]  
Supplemental Gas Data (unaudited) SUPPLEMENTAL GAS DATA (unaudited):

The following information was prepared in accordance with the FASB's Accounting Standards Update No. 2010-03, “Extractive Activities-Oil and Gas (Topic 932).” The supplementary information summarized below presents the results of natural gas and oil activities for the E&P segment in accordance with the successful efforts method of accounting for production activities.

Capitalized Costs:
 
As of December 31,
 
2019
 
2018
Intangible Drilling Costs
$
4,688,497

 
$
4,120,283

Proved Gas Properties
1,208,046

 
1,135,411

Gas Gathering Assets
1,110,977

 
1,099,047

Unproved Gas Properties
755,590

 
927,667

Gas Wells and Related Equipment
1,042,000

 
856,973

Other Gas Assets
73,479

 
54,395

Total Property, Plant and Equipment
$
8,878,589

 
$
8,193,776

Accumulated Depreciation, Depletion and Amortization
(3,263,221
)
 
(2,475,917
)
Net Capitalized Costs
$
5,615,368

 
$
5,717,859



Costs incurred for property acquisition, exploration and development (*):
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Property Acquisitions:
 
 
 
 
 
Proved Properties
$
36,710

 
$
38,621

 
$
15,850

Unproved Properties
24,760

 
36,248

 
32,038

Development
739,874

 
844,081

 
544,809

Exploration
79,855

 
61,604

 
48,020

Total
$
881,199

 
$
980,554

 
$
640,717

__________
(*)
Includes costs incurred whether capitalized or expensed.




Results of Operations for Producing Activities:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Natural Gas, NGLs and Oil Revenue
$
1,364,325

 
$
1,577,937

 
$
1,125,224

Gain (Loss) on Commodity Derivative Instruments
376,105

 
(30,212
)
 
206,930

Purchased Gas Revenue
94,027

 
65,986

 
53,795

Total Revenue
1,834,457

 
1,613,711

 
1,385,949

Lease Operating Expense
65,443

 
95,139

 
88,932

Production, Ad Valorem, and Other Fees
27,461

 
32,750

 
29,267

Transportation, Gathering and Compression
516,879

 
424,206

 
382,865

Purchased Gas Costs
90,553

 
64,817

 
52,597

Impairment of Exploration and Production Properties
327,400

 
—

 
137,865

Impairment of Undeveloped Properties
119,429

 
—

 
—

Exploration Costs
44,380

 
12,033

 
48,074

Depreciation, Depletion and Amortization
474,352

 
461,149

 
412,036

Total Costs
1,665,897

 
1,090,094

 
1,151,636

Pre-tax Operating Income
168,560

 
523,617

 
234,313

Income Tax Expense (Benefit)
78,398

 
102,629

 
(348,676
)
Results of Operations for Producing Activities excluding Corporate and Interest Costs
$
90,162

 
$
420,988

 
$
582,989


The following is production, average sales price and average production costs, excluding ad valorem and severance taxes, per unit of production:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Production (MMcfe)
539,149

 
507,104

 
407,166

Total Average Sales Price Before Effects of Commodity Derivative Financial Settlements (per Mcfe)
$
2.53

 
$
3.11

 
$
2.76

Average Effects of Commodity Derivative Financial Settlements (per Mcfe)
$
0.14

 
$
(0.15
)
 
$
(0.11
)
Total Average Sales Price Including Effects of Commodity Derivative Financial Settlements (per Mcfe)

$
2.66

 
$
2.97

 
$
2.66

Average Lifting Costs, Excluding Ad Valorem and Severance Taxes (per Mcfe)
$
0.12

 
$
0.19

 
$
0.22


During the years ended December 31, 2019, 2018 and 2017, the Company drilled 75.7, 83.9, and 90.0 net development wells, respectively. There was 1.0 net dry development well in 2019, and no net dry development wells in 2018 or 2017.
During the years ended December 31, 2019 and 2017, the Company drilled 5.0 and 4.0 net exploratory wells, respectively. During the year ended December 31, 2018, the Company drilled no net exploratory wells. There were no net dry exploratory wells in 2019, 2018 or 2017.
At December 31, 2019, there were 35.0 net development wells and 1.0 exploratory well that are drilled but uncompleted. Additionally, there are 7.0 net developmental wells that have been completed and are awaiting final tie-in to production.
CNX is committed to provide 532.3 Bcf of gas under existing sales contracts or agreements over the course of the next four years. The Company expects to produce sufficient quantities from existing proved developed reserves to satisfy these commitments.
Most of the Company's development wells and proved acreage are located in Virginia, West Virginia, Ohio and Pennsylvania. Some leases are beyond their primary term, but these leases are extended in accordance with their terms as long as certain drilling commitments or other term commitments are satisfied. The following table sets forth, at December 31, 2019, the number of producing wells, developed acreage and undeveloped acreage:
 
 
Gross
 
Net(1)
Producing Gas Wells (including Gob Wells)
 
6,512

 
4,510

Producing Oil Wells
 
151

 
—

Acreage Position:
 
 
 
 
   Proved Developed Acreage
 
337,700

 
337,700

   Proved Undeveloped Acreage
 
28,916

 
28,916

   Unproved Acreage
 
5,192,777

 
3,868,533

Total Acreage
 
5,559,393

 
4,235,149

____________
(1)
Net acres include acreage attributable to the Company's working interests of the properties. Additional adjustments (either increases or decreases) may be required as the Company further develops title to and further confirms its rights with respect to its various properties in anticipation of development. The Company believes that its assumptions and methodology in this regard are reasonable.

Proved Oil and Gas Reserves Quantities:

Annually, the preparation of natural gas reserves estimates is completed in accordance with CNX prescribed internal control procedures, which include verification of input data into a gas reserves forecasting and economic evaluation software, as well as multi-functional management review. The input data verification includes reviews of the price and operating, and development cost assumptions used in the economic model to determine the reserves. Also, the production volumes are reconciled between the system used to calculate the reserves and other accounting/measurement systems. The technical employee responsible for overseeing the preparation of the reserve estimates is a registered professional engineer in the state of West Virginia with over 15 years of experience in the oil and gas industry. The Company's gas reserves results, which are reported in the Supplemental Gas Data year ended December 31, 2019 Form 10-K, were audited by Netherland, Sewell & Associates, Inc. The technical person primarily responsible for overseeing the audit of the Company's reserves is a registered professional engineer in the state of Texas with over 12 years of experience in the oil and gas industry. The gas reserves estimates are as follows:
 
 
 
 
 
 
Condensate
 
Consolidated
 
 
Natural Gas
 
NGLs
 
& Crude Oil
 
Operations
 
 
(MMcf)
 
(Mbbls)
 
(Mbbls)
 
(MMcfe)
Balance December 31, 2016 (a)
 
5,828,399

 
60,532

 
10,009

 
6,251,648

Revisions (b)
 
(202,735
)
 
1,162

 
(5,834
)
 
(232,321
)
Price Changes
 
173,738

 
1,188

 
(159
)
 
181,470

Extensions and Discoveries (c)
 
1,769,029

 
17,887

 
1,800

 
1,887,153

Production
 
(364,893
)
 
(6,456
)
 
(589
)
 
(407,166
)
Sales of Reserves In-Place
 
(81,780
)
 
(2,622
)
 
(277
)
 
(99,172
)
Balance December 31, 2017 (a)
 
7,121,758

 
71,691

 
4,950

 
7,581,612

Revisions (d)
 
313,091

 
441

 
865

 
320,925

Price Changes
 
28,100

 
32

 
4

 
28,315

Extensions and Discoveries (c)
 
839,268

 
16,247

 
4,010

 
960,808

Production
 
(468,228
)
 
(6,011
)
 
(468
)
 
(507,104
)
Purchases of Reserves In-Place
 
317,437

 
756

 
—

 
321,975

Sales of Reserves In-Place (e)
 
(715,088
)
 
(17,252
)
 
(1,100
)
 
(825,196
)
Balance December 31, 2018 (a)
 
7,436,338

 
65,904

 
8,261

 
7,881,335

Revisions (f)
 
(521,617
)
 
5,926

 
(5,418
)
 
(518,570
)
Price Changes
 
(40,773
)
 
(740
)
 
(5
)
 
(45,246
)
Extensions and Discoveries (c)
 
1,569,813

 
10,182

 
2,732

 
1,647,297

Production
 
(505,355
)
 
(5,428
)
 
(204
)
 
(539,149
)
Balance December 31, 2019 (a)
 
7,938,406

 
75,844

 
5,366

 
8,425,667

 
 
 
 
 
 
 
 
 
Proved developed reserves:
 
 
 
 
 
 
 
 
December 31, 2017
 
4,051,526

 
56,022,000

 
3,567,000

 
4,409,065

December 31, 2018
 
4,242,579

 
40,180,000

 
1,870,000

 
4,494,878

December 31, 2019
 
4,473,534

 
59,800,000

 
1,087,000

 
4,838,858

 
 
 
 
 
 
 
 
 
Proved undeveloped reserves:
 
 
 
 
 
 
 
 
December 31, 2017
 
3,070,232

 
15,669,000

 
1,383,000

 
3,172,547

December 31, 2018
 
3,193,759

 
25,724,000

 
6,391,000

 
3,386,457

December 31, 2019
 
3,464,873

 
16,044,000

 
4,278,000

 
3,586,809

__________
(a)
Proved developed and proved undeveloped gas reserves are defined by SEC Rule 4.10(a) of Regulation S-X. Generally, these reserves would be commercially recovered under current economic conditions, operating methods and government regulations. CNX cautions that there are many inherent uncertainties in estimating proved reserve quantities, projecting future production rates and timing of development expenditures. Proved oil and gas reserves are estimated quantities of natural gas which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions and government regulations. Proved developed reserves are reserves expected to be recovered through existing wells, with existing equipment and operating methods.
(b)
The downward revisions for 2017 are due to corporate planning changes by our JV partner in Ohio Utica which resulted in all PUD's being removed, causing a 458 Bcfe downward revision, offset, in part, by improved well performance due to the enhanced RCS completions and improved operating costs.
(c)
Extensions and Discoveries in 2017, 2018, and 2019 are due to the addition of wells on the Company's Marcellus and Utica Shale acreage more than one offset location away with continued use of reliable technology.
(d)
The upward revision for 2018 of 321 Bcfe is primarily due to a 472 Bcfe upward revision from increased performance through our continued focus on optimization. This is partially offset by a 151 Bcfe downward revision due to plan changes.
(e)
The sales of reserves in-place is related to the divestiture of our Utica JV assets and substantially all of our conventional properties. Refer to Note 6 - Acquisitions and Dispositions for more information.
(f)
The downward revisions in 2019 are primarily due to removal of 872 Bcfe in reserves from plan changes which are the result of our continued focus on optimization and high grading initiatives. There was additionally a reduction of 304 Bcfe related to removal of proved undeveloped locations removed from our plans due to the SEC five-year development rule.
These downward revisions were partially offset by efficiencies in operations and optimization which increased reserves by 657 Bcfe.
 
 
For the Year
 
 
Ended
 
 
December 31,
 
 
2019
Proved Undeveloped Reserves (MMcfe)
 
 
Beginning Proved Undeveloped Reserves
 
3,386,457

Undeveloped Reserves Transferred to Developed (a)
 
(752,970
)
Revisions Due to 5 Year Rule
 
(303,787
)
Price Revisions
 
2,147

Revisions Due to Plan Changes (b)
 
(872,495
)
Revisions Due to Changes Due to Well Performance (c)
 
556,881

Extension and Discoveries (d)
 
1,570,576

Ending Proved Undeveloped Reserves(e)
 
3,586,809

_________
(a)
During 2019, various exploration and development drilling and evaluations were completed. Approximately, $334,062 of capital was spent in the year ended December 31, 2019 related to undeveloped reserves that were transferred to developed.
(b) The downward revisions for 2019 plan changes is due to removal of a portion of our Marcellus and Utica locations from our proved undeveloped reserves.
(c)
The upward revisions due to well performance is due to results from Marcellus Shale production.
(d)
Extensions and discoveries are due mainly to the addition of wells on our Marcellus and Utica Shale acreage more than one offset location away with continued use of reliable technology.
(e)
Included in proved undeveloped reserves at December 31,2019 are approximately 248,570 MMcfe of reserves that have been reported for more than five years. These reserves specifically relate to GOB (a rubble zone formed in the cavity created by the extraction of coal) production due to a complex fracture being generated in the overburden strata above the mined seam. Mining operations take a significant amount of time and our GOB forecasts are consistent with the future plans of the Buchanan Mine that was sold in March 2016 to Coronado IV LLC with the rights to this gas being retained by the Company. Evidence also exists that supports the continual operation of the mine beyond the current plan, unless there was an extreme circumstance resulting from an external factor. These reasons constitute the specific circumstances that exist to continue recognizing these reserves for CNX.
At December 31, 2019 there was one well pending the determination of proved reserves.
The following table represents the capitalized exploratory well cost activity as indicated:
 
December 31,
 
2019
 
2018
 
2017
Costs reclassified to wells, equipment and facilities based on the determination of proved reserves
$
59,981

 
$
46,614

 
$
40,149

Costs expensed due to determination of dry hole or abandonment of project
$
—

 
$
809

 
$
—


CNX proved natural gas reserves are located in the United States.
Standardized Measure of Discounted Future Net Cash Flows:
The following information has been prepared in accordance with the provisions of the Financial Accounting Standards Board's Accounting Standards Update No. 2010-03, “Extractive Activities-Oil and Gas (Topic 932).” This topic requires the standardized measure of discounted future net cash flows to be based on the average, first-day-of-the-month price for the year. Because prices used in the calculation are average prices for that year, the standardized measure could vary significantly from year to year based on the market conditions that occurred.
The projections should not be viewed as realistic estimates of future cash flows, nor should the “standardized measure” be interpreted as representing current value to CNX. Material revisions to estimates of proved reserves may occur in the future; development and production of the reserves may not occur in the periods assumed; actual prices realized are expected to vary significantly from those used; and actual costs may vary. CNX investment and operating decisions are not based on the information presented, but on a wide range of reserve estimates that include probable as well as proved reserves and on different price and cost assumptions.
The standardized measure is intended to provide a better means for comparing the value of CNX proved reserves at a given time with those of other gas producing companies than is provided by a comparison of raw proved reserve quantities.
 
 
December 31,
 
 
2019
 
2018
 
2017
Future Cash Flows (a)
 
 
 
 
 
 
Revenues
 
$
19,489,588

 
$
26,610,100

 
$
19,261,578

Production Costs
 
(7,903,120
)
 
(7,730,451
)
 
(7,234,303
)
Development Costs
 
(1,121,073
)
 
(1,600,128
)
 
(1,710,585
)
Income Tax Expense
 
(2,720,994
)
 
(4,147,075
)
 
(2,475,981
)
Future Net Cash Flows
 
7,744,401

 
13,132,446

 
7,840,709

Discounted to Present Value at a 10% Annual Rate
 
(4,673,932
)
 
(8,476,989
)
 
(4,709,311
)
Total Standardized Measure of Discounted Net Cash Flows
 
$
3,070,469

 
$
4,655,457

 
$
3,131,398


(a)
For 2019, the reserves were computed using unweighted arithmetic averages of the closing prices on the first day of each month during 2019, adjusted for energy content and a regional price differential. For 2019, this adjusted natural gas price was $2.24 per Mcf, the adjusted oil price was $44.31 per barrel and the adjusted NGL price was $19.10 per barrel.

For 2018, the reserves were computed using unweighted arithmetic averages of the closing prices on the first day of each month during 2018, adjusted for energy content and a regional price differential. For 2018, this adjusted natural gas price was $3.28 per Mcf, the adjusted oil price was $51.68 per barrel and the adjusted NGL price was $27.58 per barrel.

For 2017, the reserves were computed using unweighted arithmetic averages of the closing prices on the first day of each month during 2017, adjusted for energy content and a regional price differential. For 2017, this adjusted natural gas price was $2.44 per Mcf, the adjusted oil price was $38.65 per barrel and the adjusted NGL price was $23.61 per barrel.

    









The following are the principal sources of change in the standardized measure of discounted future net cash flows for consolidated operations during:
 
December 31,
 
2019
 
2018
 
2017
Balance at Beginning of Period
$
4,655,457

 
$
3,131,398

 
$
955,117

Net Changes in Sales Prices and Production Costs
(2,826,725
)
 
1,732,229

 
1,983,475

Sales Net of Production Costs
(1,130,685
)
 
(995,630
)
 
(831,131
)
Net Change Due to Revisions in Quantity Estimates
(252,796
)
 
307,030

 
(145,496
)
Net Change Due to Extensions, Discoveries and Improved Recovery
654,027

 
534,052

 
588,574

Development Costs Incurred During the Period
739,874

 
844,081

 
544,809

Difference in Previously Estimated Development Costs Compared to Actual Costs Incurred During the Period
(323,922
)
 
(434,817
)
 
(129,427
)
Purchase of Reserves In-Place
—

 
209,630

 
—

Sales of Reserves In-Place
—

 
(434,103
)
 
(55,277
)
Changes in Estimated Future Development Costs
(24,469
)
 
(49,294
)
 
(233,017
)
Net Change in Future Income Taxes
409,797

 
(507,410
)
 
(404,582
)
Timing and Other
586,591

 
(69,087
)
 
712,764

Accretion
583,320

 
387,378

 
145,589

     Total Discounted Cash Flow at End of Period
$
3,070,469

 
$
4,655,457

 
$
3,131,398
v3.19.3.a.u2
Supplemental Quarterly Info (Unaudited)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Supplemental Quarterly Info (Unaudited)
Supplemental Quarterly Information (unaudited):
(Dollars in thousands, except per share data)
 
Three Months Ended
 
March 31,
 
June 30,
 
September 30,
 
December 31,
 
2019
 
2019
 
2019
 
2019
Revenue (A)
$
275,234

 
$
602,109

 
$
526,681

 
$
504,747

Expenses (B)
$
147,928

 
$
153,835

 
$
153,833

 
$
182,035

Net (Loss) Income (C)
$
(64,651
)
 
$
192,694

 
$
143,960

 
$
(240,055
)
Net (Loss) Income Attributable to CNX Resources Shareholders
$
(87,337
)
 
$
162,477

 
$
115,538

 
$
(271,408
)
(Loss) Earnings Per Share
 
 
 
 
 
 
 
Basic (Loss) Earnings Per Share
$
(0.44
)
 
$
0.85

 
$
0.62

 
$
(1.45
)
Diluted (Loss) Earnings Per Share
$
(0.44
)
 
$
0.84

 
$
0.61

 
$
(1.45
)


 
Three Months Ended
 
March 31,
 
June 30,
 
September 30,
 
December 31,
 
2018
 
2018
 
2018
 
2018
Revenue (A)
$
485,019

 
$
393,590

 
$
393,223

 
$
431,660

Expenses (B)
$
167,785

 
$
140,040

 
$
123,779

 
$
148,480

Net Income (C)
$
545,546

 
$
61,394

 
$
146,756

 
$
129,415

Net Income Attributable to CNX Resources Shareholders
$
527,563

 
$
42,014

 
$
125,029

 
$
101,927

Earnings Per Share
 
 
 
 
 
 
 
Basic Earnings Per Share
$
2.38

 
$
0.19

 
$
0.59

 
$
0.51

Diluted Earnings Per Share
$
2.35

 
$
0.19

 
$
0.59

 
$
0.50



(A) Includes natural gas, NGLs, and oil revenue; gain (loss) on commodity derivative instruments, purchased gas revenue and midstream revenue.
(B) Includes exploration and production costs and other operating expense; excludes DD&A, impairment charges, selling, general and administrative, loss on debt extinguishment, interest expense and other expense.
(C) Includes impairment charges of $327,400 and $119,429 that were recorded during the three months ended December 31, 2019 related to CNX's exploration and productions properties and unproved properties, respectively, and $18,650 that was recorded during the three months ended June 30, 2018 related to CNX's intangible assets. See Note 1 - Significant Accounting Policies in Item 8 of this Form 10-K for additional information.
v3.19.3.a.u2
Schedule II - Valuation and Qualifying Accounts
 12 Months Ended
Dec. 31, 2019
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule II - Valuation and Qualifying Accounts
CNX RESOURCES CORPORATION AND SUBSIDIARIES
Valuation and Qualifying Accounts
(Dollars in thousands)

 
 
 
 
Additions
 
Deductions
 
 
 
 
Balance at
 
 
 
Release of
 
 
 
Balance at
 
 
Beginning
 
Charged to
 
Valuation
 
Charged to
 
End
 
 
of Period
 
Expense
 
Allowance
 
Expense
 
of Period
Year Ended December 31, 2019
 
 
 
 
 
 
 
 
 
 
State Operating Loss Carry-Forwards
 
$
47,964

 
$
33,238

 
$
—

 
$
—

 
$
81,202

Charitable Contributions
 
3,297

 
—

 
(2,639
)
 
—

 
658

Foreign Tax Credits
 
43,194

 
—

 
—

 
—

 
43,194

            Total
 
$
94,455

 
$
33,238

 
$
(2,639
)
 
$
—

 
$
125,054

 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2018
 
 
 
 
 
 
 
 
 
 
State Operating Loss Carry-Forwards
 
$
61,560

 
$
—

 
$
(13,596
)
 
$
—

 
$
47,964

Deferred Deductible Temporary Differences
 
9,088

 
—

 
(9,088
)
 
—

 
—

Charitable Contributions
 
3,156

 
141

 
—

 
—

 
3,297

162(m) Officers Compensation
 
5,957

 
—

 
(5,957
)
 
—

 
—

AMT Credit
 
12,413

 
1,983

 
(14,396
)
 
—

 
—

Foreign Tax Credits
 
44,402

 
—

 
(1,208
)
 
—

 
43,194

            Total
 
$
136,576

 
$
2,124

 
$
(44,245
)
 
$
—

 
$
94,455

 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2017
 
 
 
 
 
 
 
 
 
 
State Operating Loss Carry-Forwards
 
$
60,488

 
$
—

 
$
1,072

 
$
—

 
$
61,560

Deferred Deductible Temporary Differences
 
10,590

 
—

 
(1,502
)
 
—

 
9,088

Charitable Contributions
 
5,052

 
—

 
(1,896
)
 
—

 
3,156

162(m) Officers Compensation
 
—

 
—

 
5,957

 
 
 
5,957

AMT Credit
 
166,798

 
—

 
(154,385
)
 
—

 
12,413

Foreign Tax Credits
 
39,850

 
4,552

 
—

 
—

 
44,402

            Total
 
$
282,778

 
$
4,552

 
$
(150,754
)
 
$
—

 
$
136,576
v3.19.3.a.u2
Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Basis of Consolidation
Basis of Consolidation:
The Consolidated Financial Statements include the accounts of CNX Resources Corporation, and its wholly-owned and majority-owned and/or controlled subsidiaries, including certain variable interest entities that the Company is required to consolidate pursuant to the Consolidation topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification. The portion of these entities that is not owned by the Company is presented as non-controlling interest. Investments in business entities in which CNX does not have control but has the ability to exercise significant influence over the operating and financial policies, are accounted for under the equity method. All significant intercompany transactions and accounts have been eliminated in consolidation. Investments in oil and natural gas producing entities are accounted for under the proportionate consolidation method.
Discontinued Operations
Discontinued Operations:
Businesses divested are classified in the Consolidated Financial Statements as either discontinued operations or held for sale when the provision of Accounting Standards Codification (ASC) Topic 205 or ASC Topic 360 are met. For businesses classified as discontinued operations, the balance sheet amounts and results of operations are reclassified from their historical presentation to assets and liabilities of discontinued operations in the Consolidated Balance Sheets and to discontinued operations in the Consolidated Statements of Income and Cash Flows for all periods presented. The gains or losses associated with these divested businesses are recorded in discontinued operations in the Consolidated Statements of Income. The disclosures outside of Note 5- Discontinued Operations, for all periods presented, in the accompanying notes generally do not include the assets, liabilities, or operating results of businesses classified as discontinued operations.
Use of Estimates
Use of Estimates:
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, as well as various disclosures. Actual results could differ from those estimates. The most significant estimates included in, but not limited to, the preparation of the consolidated financial statements are related to long-lived assets (including intangible assets and goodwill), the values of natural gas, NGLs, condensate and oil (collectively "natural gas") reserves, asset retirement obligations, deferred income tax assets and liabilities, contingencies, fair value of derivative instruments, stock-based compensation and salary retirement benefits.
Cash and Cash Equivalents
Cash and Cash Equivalents:
Cash and cash equivalents include cash on hand and on deposit at banking institutions as well as all highly liquid short-term securities with original maturities of three months or less.
Trade Accounts Receivable
Trade Accounts Receivable:
Trade accounts receivable are recorded at the invoiced amount and do not bear interest. CNX reserves for specific accounts receivable when it is probable that all or a part of an outstanding balance will not be collected, such as customer bankruptcies. Collectability is determined based on terms of sale, credit status of customers and various other circumstances. CNX regularly reviews collectability and establishes or adjusts the allowance as necessary using the specific identification method. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Reserves for uncollectable amounts were not material in the periods presented. In addition, there were no material financing receivables with a contractual maturity greater than one year at December 31, 2019 or 2018.

Inventories
Inventories:
Inventories are stated at the lower of cost or net realizable value. The cost of supplies inventory is determined by the average cost method and includes operating and maintenance supplies to be used in the Company's operations.
Property, Plant and Equipment
Property, Plant and Equipment:
CNX uses the successful efforts method of accounting for natural gas producing activities. Costs of property acquisitions, successful exploratory, development wells and related support equipment and facilities are capitalized. Periodic valuation provisions for impairment of capitalized costs of unproved mineral interests are expensed. Costs of unsuccessful exploratory wells are expensed when such wells are determined to be non-productive, or if the determination cannot be made after finding sufficient quantities of reserves to continue evaluating the viability of the project. The costs of producing properties and mineral interests are amortized using the units-of-production method. DD&A expense is calculated based on the actual produced sales volumes multiplied by the applicable rate per unit, which is derived by dividing the net capitalized costs by the number of units expected to be produced over the life of the reserves. Wells and related equipment and intangible drilling costs are also amortized on a units-of-production method. Units-of-production amortization rates are revised at least once per year, or more frequently if events and circumstances indicate an adjustment is necessary. Such revisions are accounted for prospectively as changes in accounting estimates.

Property, plant and equipment is recorded at cost upon acquisition. Expenditures which extend the useful lives of existing plant and equipment are capitalized. Interest costs applicable to major asset additions are capitalized during the construction period. Planned major maintenance costs which do not extend the useful lives of existing plant and equipment are expensed as incurred.

Depreciation of plant and equipment is calculated on the straight-line method over their estimated useful lives or lease terms, generally as follows:
 
 
Years
Buildings and Improvements
 
10 to 45
Machinery and Equipment
 
3 to 25
Gathering and Transmission
 
30 to 40
Leasehold Improvements
 
Life of Lease


Costs for purchased software are capitalized and amortized using the straight-line method over the estimated useful life which does not exceed seven years.
Impairment of Long-Lived Assets
Impairment of Long-Lived Assets:

Impairment of long-lived assets is recorded when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets' carrying value. The carrying value of the assets is then reduced to its estimated fair value which is usually measured based on an estimate of future discounted cash flows. Impairment of equity investments is recorded when indicators of impairment are present, and the estimated fair value of the investment is less than the assets' carrying value.
Impairment of Proved and Unproved Properties
Impairment of Proved Properties:

CNX performs a quantitative impairment test whenever events or changes in circumstances indicate that an asset group's carrying amount may not be recoverable, over proved properties using the published NYMEX forward prices, timing, methods and other assumptions consistent with historical periods. When indicators of impairment are present, tests require that the Company
first compare expected future undiscounted cash flows by asset group to their respective carrying values. If the carrying amount exceeds the estimated undiscounted future cash flows, a reduction of the carrying amount of the natural gas properties to their estimated fair values is required, which is determined based on discounted cash flow techniques using significant assumptions including projected revenues, future commodity prices, and a market-specific weighted average cost of capital which are affected by expectations about future market and economic conditions. 

During the fourth quarter of 2019, CNX identified certain indicators of impairment specific to our Central Pennsylvania Marcellus asset group and determined that the carrying value of that asset group was not recoverable. The fair value of the asset group was estimated by using level 3 inputs which consisted of discounting the estimated future cash flows using discount rates and other assumptions that market participants would use in their estimates of fair value. As a result, an impairment of $327,400 was included in Impairment of Exploration and Production Properties in the Consolidated Statements of Income. This impairment was related to 56 operated wells and approximately 51,000 acres within our Central Pennsylvania Marcellus proved properties in Armstrong, Indiana, Jefferson and Westmoreland counties. The majority of these properties were developed prior to 2013 and the last of these properties were developed in 2015.
Impairment of Unproved Properties:
                                                                                                                                                                                                                                                                                                                                                                                                
Capitalized costs of unproved oil and gas properties are evaluated at least annually for recoverability on a prospective basis.  Indicators of potential impairment include, but are not limited to, changes brought about by economic factors, commodity price outlooks, our geologists’ evaluation of the property, favorable or unfavorable activity on the property being evaluated and/or adjacent properties, potential shifts in business strategy employed by management and historical experience. The likelihood of an impairment of unproved oil and gas properties increases as the expiration of a lease term approaches if drilling activity has not commenced. If it is determined that the Company does not intend to drill on the property prior to expiration or does not have the intent and ability to extend, renew, trade, or sell the lease prior to expiration, an impairment expense is recorded. Expense for lease expirations that were not previously impaired are recorded as the leases expire.
Impairment of Goodwill and Definite-Lived Intangible Assets
Impairment of Goodwill:

In connection with the Midstream Acquisition (See Note 6 - Acquisitions and Dispositions for more information), CNX recorded $796,359 of goodwill through the application of purchase accounting. The goodwill recorded was allocated in its entirety to the Midstream reporting unit, which is the sole reporting unit within the Midstream segment.

Goodwill is the cost of an acquisition less the fair value of the identifiable net assets of the acquired business. Goodwill is not amortized, but rather it is evaluated for impairment annually during the fourth quarter, or more frequently if recent events or prevailing conditions indicate it is more likely than not that the fair value of a reporting unit is less than its carrying value. These indicators include, but are not limited to, overall financial performance, industry and market considerations, anticipated future cash flows and discount rates, changes in the stock price with regards to CNX or common unit price with regards to CNX Midstream Partners LP ("CNXM"), regulatory and legal developments, and other relevant factors.

In connection with the annual evaluation of goodwill for impairment, CNX may first consider qualitative factors to assess whether there are indicators that it is more likely than not that the fair value of a reporting unit may not exceed its carrying amount. If after assessing such factors or circumstances, CNX determines it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, then a quantitative assessment is not required. If CNX chooses to bypass the qualitative assessment, or if it chooses to perform a qualitative assessment but is unable to qualitatively conclude that no impairment has occurred, then CNX will perform a quantitative assessment. In the case of a quantitative assessment, CNX estimates the fair value of the reporting unit with which the goodwill is associated using level 3 inputs and compares it to the carrying value. If the estimated fair value of a reporting unit is less than its carrying value, an impairment charge is recognized for the excess of the reporting unit's carrying value over its fair value. The Company uses a combination of the income approach (generally a discounted cash
flow method) and market approach (which may include the guideline public company method and/or the guideline transaction method) to estimate the fair value of a reporting unit.

The income approach is used to estimate value based on the present value of future economic benefits that are expected to be produced by an asset or business entity. This approach generally involves two general steps:

(i) The first step involves establishing a forecast of the estimated future net cash flows expected to accrue directly or indirectly to the owner of the asset over its remaining useful life or to the owner of the business entity (including a reporting unit).
(ii) The second step involves discounting these estimated future net cash flows to their present value using a market rate of return.

CNX determined the fair value based on estimated future revenues and earnings before deducting net interest expense (interest expense less interest income) and income taxes (EBITDA - a non-GAAP financial measure), and also included estimates for capital expenditures, discounted to present value using an industry rate adjusted for company-specific risk, which management feels reflects the overall level of inherent risk of the reporting unit. These assumptions are affected by expectations about future market, industry and economic conditions. Cash flow projections were derived from board approved budgeted amounts, a five-year operating forecast and an estimate of future cash flows. Subsequent cash flows were developed using growth or contraction rates that management believes are reasonably likely to occur.

The estimates of future cash flows and EBITDA are subjective in nature and are subject to impacts from business risks as described in Item 1A. Risk Factors of this Form 10-K. The fair value estimation process requires considerable judgment and determining the fair value is sensitive to changes in assumptions impacting management’s estimates of future financial results. Although CNX believes the estimates and assumptions used in estimating the fair value are reasonable and appropriate, different assumptions and estimates could materially impact the estimated fair value. Future results could differ from our current estimates and assumptions.

In connection with our annual assessment of goodwill in the fourth quarter of 2019, we bypassed the qualitative assessment and performed a quantitative test that utilized a combination of the income and market approaches to estimate the fair value of the Midstream reporting unit. As a result of this assessment, we concluded that the estimated fair value exceeded carrying value, and accordingly no adjustment to goodwill was necessary. However, the margin by which the fair value of the Midstream reporting unit exceeded its carrying value was less than 10%. As a result, this reporting unit is susceptible to impairment risk from further adverse macroeconomic conditions or other adverse factors such as future gathering volumes being less than those currently estimated. Any such adverse changes in the future could reduce the underlying cash flows used to estimate fair values and could result in a decline in fair value that could trigger future impairment charges relating to the Midstream reporting unit.

Impairment of Definite-Lived Intangible Assets:

Definite-lived intangible assets are amortized on a straight-line basis over their estimated economic lives and they are reviewed for impairment when indicators of impairment are present.

In connection with the Midstream Acquisition (See Note 6 - Acquisitions and Dispositions for more information), CNX recorded $128,781 of other intangible assets, which are comprised of customer relationships, through the application of purchase accounting. 

In May 2018, CNX determined that the carrying value of a portion of the customer relationship intangible assets that were acquired in connection with the Midstream acquisition exceeded their fair value in conjunction with the Asset Exchange Agreement with HG Energy II Appalachia, LLC (See Note 6 - Acquisitions and Dispositions for more information). CNX recognized an impairment on this intangible asset of $18,650, which is included in Impairment of Other Intangible Assets in the Consolidated Statements of Income.

The customer relationships intangible asset is amortized on a straight-line basis over approximately 17 years.
Income Taxes
Income Taxes:
Deferred tax assets and liabilities are recognized for the expected future tax consequences of events that have been recognized in the Company's financial statements or tax returns. The provision for income taxes represents income taxes paid or payable for the current year and the change in deferred taxes, excluding the effects of acquisitions during the year. Deferred taxes result from
differences between the financial and tax bases of the Company's assets and liabilities and are adjusted for changes in tax rates and tax laws when changes are enacted. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a deferred tax benefit will not be realized.
CNX evaluates all tax positions taken on the state and federal tax filings to determine if the position is more likely than not to be sustained upon examination. For positions that do not meet the more likely than not to be sustained criteria, the Company determines, on a cumulative probability basis, the largest amount of benefit that is more likely than not to be realized upon ultimate settlement. A previously recognized tax position is reversed when it is subsequently determined that a tax position no longer meets the more likely than not threshold to be sustained. The evaluation of the sustainability of a tax position and the probable amount that is more likely than not is based on judgment, historical experience and on various other assumptions that the Company believes are reasonable under the circumstances. The results of these estimates, that are not readily apparent from other sources, form the basis for recognizing an uncertain tax position liability. Actual results could differ from those estimates upon subsequent resolution of identified matters.
Asset Retirement Obligations
Asset Retirement Obligations:

CNX accrues for dismantling and removing costs of gas-related facilities and related surface reclamation using the accounting treatment prescribed by the Asset Retirement and Environmental Obligations Topic of the FASB Accounting Standards Codification. This topic requires the fair value of an asset retirement obligation be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. Estimates are regularly reviewed by management and are revised for changes in future estimated costs and regulatory requirements. The present value of the estimated asset retirement costs is capitalized as part of the carrying amount of the long-lived asset. Amortization of the capitalized asset retirement cost is generally determined on a units-of-production basis. Accretion of the asset retirement obligation is recognized over time and generally will escalate over the life of the producing asset, typically as production declines. Accretion is included in Depreciation, Depletion and Amortization in the Consolidated Statements of Income.
Investment Plan
Investment Plan:

CNX has an investment plan that is available to most employees. Throughout the years ended December 31,2019, 2018 and 2017, the Company's matching contribution was 6% of eligible compensation contributed by eligible employees. The Company may also make discretionary contributions to the Plan ranging from 1% to 6% of eligible compensation for eligible employees (as defined by the Plan).
Revenue Recognition
Revenue Recognition:

Revenues are recognized when the recognition criteria of ASC 606 are met, which generally occurs at the point in which title passes to the customers. For natural gas, NGL and oil revenue, this occurs at the contractual point of delivery. For midstream revenue this occurs when obligations under the terms of the contract with the shipper are satisfied.
CNX sells natural gas to accommodate the delivery points of its customers. In general, this gas is purchased at market price and re-sold on the same day at market price less a small transaction fee. These matching buy/sell transactions include a legal right of offset of obligations and have been simultaneously entered into with the counterparty. These transactions qualify for netting under the Nonmonetary Transactions Topic of the FASB Accounting Standards Codification and are, therefore, recorded net within the Consolidated Statements of Income in the Purchased Gas Revenue line.
CNX purchases natural gas produced by third-parties at market prices less a fee. The gas purchased from third-parties is then resold to end users or gas marketers at current market prices. These revenues and expenses are recorded gross as Purchased Gas Revenue and Purchase Gas Costs, respectively, in the Consolidated Statements of Income. Purchased gas revenue is recognized when title passes to the customer. Purchased gas costs are recognized when title passes to CNX from the third-party.
Contingencies
Contingencies:

From time to time, CNX, or its subsidiaries, are subject to various lawsuits and claims with respect to such matters as personal injury, wrongful death, damage to property, exposure to hazardous substances, governmental regulations (including environmental remediation), employment and contract disputes, and other claims and actions, arising out of the normal course of business. Liabilities are recorded when it is probable that obligations have been incurred and the amounts can be reasonably estimated. Estimates are developed through consultation with legal counsel involved in the defense of these matters and are based upon the
nature of the lawsuit, progress of the case in court, view of legal counsel, prior experience in similar matters and management's intended response. Environmental liabilities are not discounted or reduced by possible recoveries from third-parties. Legal fees associated with defending these various lawsuits and claims are expensed when incurred.
Stock-Based Compensation
Stock-Based Compensation:
Stock-based compensation expense for all stock-based compensation awards is based on the grant date fair value estimated in accordance with the provisions of the Stock Compensation Topic of the FASB Accounting Standards Codification. CNX recognizes these compensation costs on a straight-line basis over the requisite service period of the award, which is generally the award's vesting term. See Note 17 - Stock-Based Compensation for more information.

Accounting for Derivative Instruments
Derivative Instruments:

CNX enters into financial derivative instruments to manage its exposure to commodity price volatility. The derivatives are accounted for as an asset or a liability in the accompanying Consolidated Balance Sheets at their fair value, generally measured based upon Level 2 inputs, which is further described in Note 20 - Fair Value of Financial Instruments. Changes in the fair values of derivatives are recorded in earnings.
All of the Company's derivative instruments are subject to master netting arrangements with its counterparties, none of which currently require CNX to post collateral for any of its hedges. However, as stated in the counterparty master agreements, if the Company's obligations with one of its counterparties cease to be secured on the same basis as similar obligations with the other lenders under the credit facility, CNX would be required to post collateral for hedges that are in a liability position in excess of defined thresholds. Each of the Company's counterparty master agreements allows, in the event of default, the ability to elect early termination of outstanding contracts. If early termination is elected, CNX and the applicable counterparty would net settle all open hedge positions.
CNX is exposed to credit risk in the event of non-performance by counterparties, whose creditworthiness is subject to continuing review. Historically, CNX has not experienced any issues of non-performance by derivative counterparties.
Recent Accounting Pronouncements
Recent Accounting Pronouncements:

In December 2019, the FASB issued ASU 2019-12 - Income Taxes - Simplifying the Accounting for Income Taxes (Topic 740), which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. This ASU removes the following exceptions: (1) exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items; (2) exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment; (3) exception to the ability not to recognize a deferred tax liability for a foreign subsidiary when a foreign equity method investment becomes a subsidiary; and (4) exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. The amendments in this ASU also improve consistency and simplify other areas of Topic 740 by clarifying and amending existing guidance. The amendments in this ASU will be applied using different approaches depending on what the specific amendment relates to and, for public entities, are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The adoption of this guidance is not expected to have a material impact on the Company's financial statements.
In November 2019, the FASB issued ASU 2019-11 - Financial Instruments - Credit Losses (Topic 326), which clarifies and addresses specific issues about certain aspects of the amendments in ASU 2016-13. In May 2019, the FASB issued ASU 2019-05 - Financial Instruments - Credit Losses (Topic 326), which provides optional targeted transition relief to entities adopting ASU 2016-13. ASU 2016-13 replaces the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The measurement of expected credit losses will be based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. ASU 2019-05 provides the option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. The amendments in this ASU will be applied using the modified-retrospective approach and, for public entities, are effective for fiscal years beginning after December 15, 2019 and interim periods within those annual periods. Early adoption is permitted. The adoption of this guidance is not expected to have a material impact on the Company's financial statements.
Reclassifications
Reclassifications:
Certain amounts in prior periods have been reclassified to conform with the report classifications of the year ended December 31, 2019, with no effect on previously reported net income, stockholders' equity, or statement of cash flows.
Subsequent Events
Subsequent Events:

The Company has evaluated all subsequent events through the date the financial statements were issued. No material recognized, or non-recognizable subsequent events were identified other than what is disclosed in Note 25 - Subsequent Event.
v3.19.3.a.u2
Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Schedule of Property, Plant and Equipment, Useful Lives
Depreciation of plant and equipment is calculated on the straight-line method over their estimated useful lives or lease terms, generally as follows:
 
 
Years
Buildings and Improvements
 
10 to 45
Machinery and Equipment
 
3 to 25
Gathering and Transmission
 
30 to 40
Leasehold Improvements
 
Life of Lease


 
December 31,
Property, Plant and Equipment
2019
 
2018
Intangible Drilling Cost
$
4,688,497

 
$
4,120,283

Gas Gathering Equipment
2,463,866

 
2,126,895

Proved Gas Properties
1,208,046

 
1,135,411

Gas Wells and Related Equipment
1,042,000

 
859,359

Unproved Gas Properties
755,590

 
927,667

Surface Land and Other Equipment
226,285

 
238,487

Other
187,722

 
159,326

Total Property, Plant and Equipment
10,572,006

 
9,567,428

Less: Accumulated Depreciation, Depletion and Amortization
3,435,431

 
2,624,984

Total Property, Plant and Equipment - Net
$
7,136,575

 
$
6,942,444
v3.19.3.a.u2
Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The table below sets forth the share-based awards that have been excluded from the computation of diluted earnings per share because their effect would be antidilutive:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Anti-Dilutive Options
4,696,264

 
2,285,775

 
2,773,423

Anti-Dilutive Restricted Stock Units
1,282,582

 
—

 
18,598

Anti-Dilutive Performance Share Units
752,899

 
145,217

 
—

Anti-Dilutive Performance Share Options
927,268

 
927,268

 
927,268

 
7,659,013

 
3,358,260

 
3,719,289
Schedule of Earnings Per Share, Basic and Diluted
The computations for basic and diluted earnings per share are as follows:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Income from Continuing Operations
$
31,948

 
$
883,111

 
$
295,039

Less: Net Income Attributable to Non-Controlling Interest
112,678

 
86,578

 
—

Net (Loss) Income from Continuing Operations Attributable to CNX Resources Shareholders
$
(80,730
)
 
$
796,533

 
$
295,039

Income from Discontinued Operations
—

 
—

 
85,708

Net (Loss) Income Attributable to CNX Resources Shareholders
$
(80,730
)
 
$
796,533

 
$
380,747

 
 
 
 
 
 
Weighted-average shares of common stock outstanding
190,727,122

 
212,348,581

 
228,835,112

Effect of diluted shares
—

 
2,280,384

 
2,116,700

Weighted-average diluted shares of common stock outstanding
190,727,122

 
214,628,965

 
230,951,812

 
 
 
 
 
 
(Loss) Earnings Per Share:
 
 
 
 
 
Basic (Continuing Operations)
$
(0.42
)
 
$
3.75

 
$
1.29

Basic (Discontinued Operations)
—

 
—

 
0.37

Total Basic
$
(0.42
)
 
$
3.75

 
$
1.66

 
 
 
 
 
 
Diluted (Continuing Operations)
$
(0.42
)
 
$
3.71

 
$
1.28

Diluted (Discontinued Operations)
—

 
—

 
0.37

Total Diluted
$
(0.42
)
 
$
3.71

 
$
1.65
Schedule of Shares of Common Stock Outstanding
Shares of common stock outstanding were as follows:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Balance, Beginning of Year
198,663,342

 
223,743,322

 
229,443,008

Issuance Related to Stock-Based Compensation (1)
909,107

 
814,344

 
711,214

Retirement of Common Stock (2)
(12,929,487
)
 
(25,894,324
)
 
(6,410,900
)
Balance, End of Year
186,642,962

 
198,663,342

 
223,743,322

(1) See Note 17 - Stock-Based Compensation for additional information.
(2) See Note 7 - Stock Repurchase for additional information.
v3.19.3.a.u2
Changes in Accumulated Other Comprehensive Loss (Tables)
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income/(Loss)

Changes in Accumulated Other Comprehensive Loss related to pension obligations, net of tax, were as follows:
 
Amount
Balance at December 31, 2018
$
(7,904
)
Other Comprehensive Loss before Reclassifications
(4,868
)
Amounts Reclassified from Accumulated Other Comprehensive Loss, net of tax
167

Balance at December 31, 2019
$
(12,605
)
Schedule of Reclassification of Adjustments to Accumulated Other Comprehensive Income
The following table shows the reclassification of adjustments out of Accumulated Other Comprehensive Loss:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Actuarially Determined Long-Term Liability Adjustments* (Note 16)
 
 
 
 
 
Amortization of Prior Service Costs
$
(17
)
 
$
(193
)
 
$
(2,775
)
Recognized Net Actuarial Loss
242

 
302

 
23,043

Total
225

 
109

 
20,268

Less: Tax Benefit
58

 
173

 
7,499

Net of Tax
$
167

 
$
(64
)
 
$
12,769

*Excludes amounts related to the remeasurement of the actuarially determined pension obligations for the years ended December 31, 2019, 2018 and 2017. The table above only shows the reclassifications out of Accumulated Other Comprehensive Loss that relates to continuing operations.
v3.19.3.a.u2
Revenue From Contracts With Customers (Tables)
 12 Months Ended
Dec. 31, 2019
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following table is a disaggregation of revenue by major source:
 
For the Years Ended December 31,
2019
 
2018
 
2017
Revenue from Contracts with Customers
 
 
 
 
 
Natural Gas Revenue
$
1,251,013

 
$
1,391,459

 
$
945,382

NGLs Revenue
104,139

 
165,883

 
156,132

Condensate Revenue
8,751

 
17,559

 
20,531

Oil Revenue
422

 
3,036

 
3,179

Total Natural Gas, NGLs and Oil Revenue
1,364,325

 
1,577,937

 
1,125,224

 
 
 
 
 
 
Purchased Gas Revenue
94,027

 
65,986

 
53,795

Midstream Revenue
74,314

 
89,781

 
—

 
 
 
 
 
 
Other Sources of Revenue and Other Operating Income
 
 
 
 
 
Gain (Loss) on Commodity Derivative Instruments
376,105

 
(30,212
)
 
206,930

Other Operating Income
13,678

 
26,942

 
69,182

Total Revenue and Other Operating Income
$
1,922,449


$
1,730,434


$
1,455,131
v3.19.3.a.u2
Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Financial Information for Divested Business Within Discontinued Operations
The following table details selected financial information for the divested business included within discontinued operations:
 
For the Year Ended
  
December 31, 2017
Coal Revenue
$
1,067,841

Other Outside Sales
60,066

Freight-Outside Coal
66,297

Miscellaneous Other Income
73,645

Total Revenue and Other Income
1,267,849

Total Costs
1,147,254

Income from Operations Before Income Taxes
120,595

Income Tax Expense
23,984

Less: Net Income Attributable to Noncontrolling Interest
10,903

Income from Discontinued Operations, net
$
85,708
v3.19.3.a.u2
Acquisitions and Dispositions (Tables)
 12 Months Ended
Dec. 31, 2019
Business Combinations [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
Fair Value of Consideration Transferred:
 
Amount
Cash Consideration
$
305,000

CNX Gathering Cash on Hand at January 3, 2018 Distributed to Noble
2,620

Fair Value of Previously Held Equity Interest
799,033

Total Estimated Fair Value of Consideration Transferred
$
1,106,653

The following is a summary of the fair values of the net assets acquired:
Fair Value of Assets Acquired:
Amount
Cash and Cash Equivalents
$
8,348

Accounts and Notes Receivable
21,199

Prepaid Expense
2,006

Other Current Assets
163

Property, Plant and Equipment, Net
1,043,340

Intangible Assets
128,781

Other
593

Total Assets Acquired
1,204,430

 
 
Fair Value of Liabilities Assumed:
 
Accounts Payable
26,059

CNXM Revolving Credit Facility
149,500

Total Liabilities Assumed
175,559

 
 
Total Identifiable Net Assets
1,028,871

Fair Value of Noncontrolling Interest in CNXM
(718,577
)
Goodwill
796,359

Net Assets Acquired
$
1,106,653
Schedule of Pro Forma Information
Post-Acquisition Operating Results (Midstream Acquisition)

The Midstream Acquisition contributed the following to the Company's Midstream segment:
 
For the Years Ended December 31,
 
2019
 
2018
Midstream Revenue
$
307,024

 
$
258,074

Earnings from Continuing Operations Before Income Tax
$
166,654

 
$
133,811



The pro forma combined financial information has been included for comparative purposes and is not necessarily indicative of the results that might have actually occurred had the acquisition been completed at January 1, 2017; furthermore, the financial information is not intended to be a projection of future results.
 
For the Year Ended
(in thousands, except per share data) (unaudited)
December 31, 2017
Pro Forma Total Revenue and Other Operating Income
$
1,553,078

Pro Forma Net Income from Continuing Operations
$
427,381

Less: Pro Forma Net Income Attributable to Noncontrolling Interests
$
74,251

Pro Forma Net Income from Continuing Operations Attributable to CNX
$
353,130

Pro Forma Income per Share from Continuing Operations (Basic)
$
1.33

Pro Forma Income per Share from Continuing Operations (Diluted)
$
1.33
v3.19.3.a.u2
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)

Income tax expense (benefit) provided on earnings from continuing operations consisted of:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Current:
 
 
 
 
 
U.S. Federal
$
(51,243
)
 
$
(130,003
)
 
$
(31,791
)
U.S. State
(113
)
 
—

 
(1,838
)
 
(51,356
)
 
(130,003
)
 
(33,629
)
Deferred:
 
 
 
 
 
U.S. Federal
47,717

 
319,813

 
(166,112
)
U.S. State
31,375

 
25,747

 
23,283

 
79,092

 
345,560

 
(142,829
)
 
 
 
 
 
 
Total Income Tax Expense (Benefit)
$
27,736

 
$
215,557

 
$
(176,458
)
Schedule of Deferred Tax Assets and Liabilities
The components of the net deferred taxes are as follows:
 
December 31,
 
2019
 
2018
Deferred Tax Assets:
 
 
 
Net Operating Loss- Federal
$
202,913

 
$
124,341

Net Operating Loss - State
130,430

 
110,339

Alternative Minimum Tax
51,241

 
102,482

Foreign Tax Credit
43,194

 
43,194

Interest Limitation
25,734

 
32,147

Gas Well Closing
17,888

 
10,140

Equity Compensation
9,308

 
13,096

Salary Retirement
9,236

 
9,434

Finance Lease
1,209

 
1,624

Other
10,030

 
13,714

Total Deferred Tax Assets
501,183

 
460,511

Valuation Allowance
(125,054
)
 
(94,455
)
Net Deferred Tax Assets
376,129

 
366,056

 
 
 
 
Deferred Tax Liabilities:
 
 
 
Property, Plant and Equipment
(593,401
)
 
(606,342
)
Investment in Partnership
(145,424
)
 
(125,253
)
Gas Derivatives
(105,721
)
 
(26,160
)
Advance Gas Royalties
(3,337
)
 
(3,384
)
Other
(4,354
)
 
(3,599
)
Total Deferred Tax Liabilities
(852,237
)
 
(764,738
)
 
 
 
 
Net Deferred Tax Liability
$
(476,108
)
 
$
(398,682
)
Schedule of Effective Income Tax Rate Reconciliation
The following is a reconciliation, stated as a percentage of pretax income, of the United States statutory federal income tax rate to CNX's effective tax rate:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
 
Amount
 
Percent
 
Amount
 
Percent
 
Amount
 
Percent
Statutory U.S. Federal Income Tax Rate
$
12,534

 
21.0
 %
 
$
230,721

 
21.0
 %
 
$
41,503

 
35.0
 %
Net Effect of State Income Taxes
1,333

 
2.2

 
60,814

 
5.6

 
15,538

 
13.1

Non-Controlling Interest
(23,662
)
 
(39.6
)
 
(18,181
)
 
(1.7
)
 
—

 
—

Uncertain Tax Positions
—

 
—

 
(4,265
)
 
(0.4
)
 
27,359

 
23.1

Effect of Spin on Federal NOL's
—

 
—

 
—

 
—

 
24,942

 
21.0

Accrual to Tax Return Reconciliation
603

 
1.0

 
3,028

 
0.3

 
(1,147
)
 
(1.0
)
Effect of Equity Compensation
8,771

 
14.7

 
—

 
—

 
—

 
—

Effect of Change in State Valuation Allowance
33,238

 
55.6

 
(22,684
)
 
(2.1
)
 
(430
)
 
(0.4
)
Effect of Change in Federal Valuation Allowance
(2,640
)
 
(4.4
)
 
(18,110
)
 
(1.7
)
 
(145,772
)
 
(122.9
)
Other Deferred Adjustments
(1,691
)
 
(2.8
)
 
5,957

 
0.6

 
7,616

 
6.4

Effect of Federal and State Rate Reductions
(3,842
)
 
(6.4
)
 
(27,429
)
 
(2.5
)
 
(131,784
)
 
(111.1
)
Effect of Federal Tax Credits
2,881

 
4.8

 
1,208

 
0.1

 
(19,081
)
 
(16.1
)
Other
211

 
0.4

 
4,498

 
0.4

 
4,798

 
4.0

Income Tax Expense (Benefit) / Effective Rate
$
27,736

 
46.5
 %
 
$
215,557

 
19.6
 %
 
$
(176,458
)
 
(148.9
)%
Reconciliation of Unrecognized Tax Benefits
A reconciliation of the beginning and ending gross amounts of unrecognized tax benefits is as follows:
 
For the Years Ended
 
December 31,
 
2019
 
2018
Balance at Beginning of Period
$
31,516

 
$
37,813

Increase in Unrecognized Tax Benefits Resulting from Tax Positions Taken During Prior Periods
—

 
2,140

Reduction in Unrecognized Tax Benefits Because of the Lapse of the Applicable Statute of Limitations
—

 
(8,437
)
Balance at End of Period
$
31,516

 
$
31,516
v3.19.3.a.u2
Asset Retirement Obligations (Tables)
 12 Months Ended
Dec. 31, 2019
Asset Retirement Obligation [Abstract]  
Schedule of Change in Asset Retirement Obligation
The reconciliation of changes in asset retirement obligations is as follows:
 
 
As of December 31,
 
 
2019
 
2018
Balance, Beginning of Year
 
$
38,554

 
$
204,070

Obligations Divested (Note 6)
 
—

 
(196,643
)
Accretion Expense
 
9,458

 
9,874

Obligations Incurred
 
2,933

 
4,795

Obligations Settled
 
(4,231
)
 
(5,323
)
Revisions in Estimated Cash Flows
 
21,740

 
21,781

Balance, End of Year
 
$
68,454

 
$
38,554
v3.19.3.a.u2
Property, Plant and Equipment (Tables)
 12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
Depreciation of plant and equipment is calculated on the straight-line method over their estimated useful lives or lease terms, generally as follows:
 
 
Years
Buildings and Improvements
 
10 to 45
Machinery and Equipment
 
3 to 25
Gathering and Transmission
 
30 to 40
Leasehold Improvements
 
Life of Lease


 
December 31,
Property, Plant and Equipment
2019
 
2018
Intangible Drilling Cost
$
4,688,497

 
$
4,120,283

Gas Gathering Equipment
2,463,866

 
2,126,895

Proved Gas Properties
1,208,046

 
1,135,411

Gas Wells and Related Equipment
1,042,000

 
859,359

Unproved Gas Properties
755,590

 
927,667

Surface Land and Other Equipment
226,285

 
238,487

Other
187,722

 
159,326

Total Property, Plant and Equipment
10,572,006

 
9,567,428

Less: Accumulated Depreciation, Depletion and Amortization
3,435,431

 
2,624,984

Total Property, Plant and Equipment - Net
$
7,136,575

 
$
6,942,444
Schedule of Amortization Expense Per Unit of Production
 
December 31,
 
2019
 
2018
Unproved Gas Properties
$
755,590

 
$
927,667

Advance Royalties
12,770

 
12,863

     Total
$
768,360

 
$
940,530
v3.19.3.a.u2
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets
The carrying amount and accumulated amortization of other intangible assets consist of the following:
 
December 31,
 
2019
 
2018
Other Intangible Assets
 
 
 
Gross Amortizable Asset - Customer Relationships
$
109,752

 
$
109,752

Less: Accumulated Amortization - Customer Relationships
13,105

 
6,552

Total Other Intangible Assets, net
$
96,647

 
$
103,200
v3.19.3.a.u2
Other Accrued Liabilities (Tables)
 12 Months Ended
Dec. 31, 2019
Other Liabilities Disclosure [Abstract]  
Schedule of Accrued Liabilities
 
 
December 31,
 
 
2019
 
2018
Royalties
 
$
74,061

 
$
92,005

Accrued Interest
 
30,862

 
26,333

Short-Term Incentive Compensation
 
21,030

 
20,482

Transportation Charges
 
16,533

 
19,661

Deferred Revenue
 
13,964

 
17,693

Accrued Other Taxes
 
9,115

 
7,300

Accrued Payroll & Benefits
 
6,248

 
6,533

Other
 
38,105

 
31,851

Current Portion of Long-Term Liabilities:
 

 

Asset Retirement Obligations
 
5,076

 
1,075

Salary Retirement
 
1,587

 
1,578

Total Other Accrued Liabilities
 
$
216,581


$
224,511
v3.19.3.a.u2
Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2019
Long-term Debt, Other Disclosures [Abstract]  
Schedule of Long-term Debt
 
December 31,
 
2019
 
2018
Senior Notes due April 2022 at 5.875% (Principal of $894,307 and $1,294,307 plus Unamortized Premium of $1,001 and $2,069, respectively)
$
895,308

 
$
1,296,376

CNX Credit Facility
661,000

 
612,000

Senior Notes due March 2027 at 7.25%, Issued at Par Value
500,000

 
—

CNX Midstream Partners LP Senior Notes due March 2026 at 6.50% (Principal of $400,000 less Unamortized Discount of $4,625 and $5,375, respectively)*
395,375

 
394,625

CNX Midstream Partners LP Revolving Credit Facility*
311,750

 
84,000

Less: Unamortized Debt Issuance Costs
8,990

 
8,796

Long-Term Debt
$
2,754,443

 
$
2,378,205
Schedule of Maturities of Long-term Debt nnual undiscounted maturities of CNX and CNXM long-term debt during the next five years and thereafter are as follows:
Year ended December 31,
Amount
2020
$
—

2021
—

2022
894,307

2023
—

2024
972,750

Thereafter
900,000

      Total Long-Term Debt Maturities
$
2,767,057
v3.19.3.a.u2
Leases (Tables)
 12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Schedule of Lease Cost
Lease terms and discount rates are as follows:
 
December 31, 2019
Weighted Average Remaining Lease Term (years):
 
Operating Leases
4.39

Finance Leases
2.16

 
 
Weighted Average Discount Rate:
 
Operating Leases
4.96
%
Finance Leases
6.92
%

The components of lease cost were as follows:
 
For the Year Ended
 
December 31, 2019
Operating Lease Cost
$
73,809

Finance Lease Cost:
 
Amortization of Right-of-Use Assets
5,242

Interest on Lease Liabilities
1,241

Short-term Lease Cost
5,547

Variable Lease Cost*
17,337

Total Lease Cost
$
103,176

*Amount recognized in the Consolidated Balance Sheet for natural gas drilling rigs are measured using the rates that would be paid if the rigs were idle, as this represents the minimum payment that could be made under the contract. Variable lease cost represents amounts paid for natural gas drilling rigs above this minimum when the rigs are in use. Amount recognized in the Consolidated Balance Sheet for electric fracturing equipment are measured using minimum pumping hours under the contract; however, pumping hours may exceed the minimum and vary period to period. Any such amounts paid related to pumping hours in excess of the minimum represent variable lease cost.
Schedule of Balance Sheet Information
Amounts recognized in the Consolidated Balance Sheet are as follows:
 
December 31, 2019
Operating Leases:
 
Operating Lease Right-of-Use Asset
$
187,097

 
 
Current Portion of Operating Lease Obligations
$
61,670

Operating Lease Obligations
110,466

Total Operating Lease Liabilities
$
172,136

 
 
Finance Leases:
 
Property, Plant and Equipment
$
72,916

Less—Accumulated Depreciation, Depletion and Amortization
63,008

Property, Plant and Equipment—Net
$
9,908

 
 
Current Portion of Finance Lease Obligations
$
7,164

Finance Lease Obligations
7,706

Total Finance Lease Liabilities
$
14,870


Supplemental cash flow information related to leases was as follows:
 
For the Year Ended
 
December 31, 2019
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
 
Operating Cash Flows from Operating Leases
$
66,827

Operating Cash Flows from Finance Leases
$
1,241

Financing Cash Flows from Finance Leases
$
7,149

Right-of-Use Assets Obtained in Exchange for Lease Obligations:
 
Operating Leases
$
15,347

Finance Leases
$
1,846
Maturity of Lease Liability, Operating
Maturities of lease liabilities are as follows:
 
 
Operating
 
Finance
 
 
Leases
 
Leases
Year Ended December 31,
 
 
 
 
2020
 
$
68,663

 
$
7,968

2021
 
59,410

 
7,142

2022
 
23,789

 
436

2023
 
5,453

 
433

2024
 
5,433

 
127

Thereafter
 
30,822

 
—

Total Lease Payments
 
193,570

 
16,106

Less: Interest
 
21,434

 
1,236

Present Value of Lease Liabilities
 
$
172,136

 
$
14,870
Maturity of Lease Liability, Financing
Maturities of lease liabilities are as follows:
 
 
Operating
 
Finance
 
 
Leases
 
Leases
Year Ended December 31,
 
 
 
 
2020
 
$
68,663

 
$
7,968

2021
 
59,410

 
7,142

2022
 
23,789

 
436

2023
 
5,453

 
433

2024
 
5,433

 
127

Thereafter
 
30,822

 
—

Total Lease Payments
 
193,570

 
16,106

Less: Interest
 
21,434

 
1,236

Present Value of Lease Liabilities
 
$
172,136

 
$
14,870
v3.19.3.a.u2
Pension (Tables)
 12 Months Ended
Dec. 31, 2019
Defined Contribution Plan [Abstract]  
Schedule of Changes in Accumulated Postemployment Benefit Obligations The reconciliation of changes in the benefit obligation, plan assets and funded status of the pension benefits is as follows:
 
 
December 31,
 
 
2019
 
2018
Change in Benefit Obligation:
 
 
 
 
Benefit Obligation at Beginning of Period
 
$
33,569

 
$
36,280

Service Cost
 
209

 
302

Interest Cost
 
1,338

 
1,265

Actuarial Loss (Gain)
 
4,865

 
(2,645
)
Plan Amendments
 
1,728

 
—

Plan Curtailments
 
—

 
(126
)
Benefits and Other Payments
 
(1,513
)
 
(1,507
)
Benefit Obligation at End of Period
 
$
40,196

 
$
33,569

 
 
 
 
 
Change in Plan Assets:
 
 
 
 
Fair Value of Plan Assets at Beginning of Period
 
$
—

 
$
—

Company Contributions
 
1,513

 
1,507

Benefits and Other Payments
 
(1,513
)
 
(1,507
)
Fair Value of Plan Assets at End of Period
 
$
—

 
$
—

 
 
 
 
 
Funded Status:
 
 
 
 
Current Liabilities
 
$
(1,587
)
 
$
(1,578
)
Noncurrent Liabilities
 
(38,609
)
 
(31,991
)
Net Obligation Recognized
 
$
(40,196
)
 
$
(33,569
)
 
 
 
 
 
Amounts Recognized in Accumulated Other Comprehensive Loss Consist of:
 
 
 
 
Net Actuarial Loss
 
$
15,361

 
$
10,738

Prior Service Cost (Credit)
 
1,727

 
(17
)
Total
 
17,088

 
10,721

Less: Tax Benefit
 
4,483

 
2,817

Net Amount Recognized
 
$
12,605

 
$
7,904
Schedule of Defined Benefit Plans Disclosures
The components of the net periodic benefit cost are as follows:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Components of Net Periodic Benefit Cost:
 
 
 
 
 
Service Cost
$
209

 
$
302

 
$
375

Interest Cost
1,338

 
1,265

 
1,201

Amortization of Prior Service Credits
(17
)
 
(193
)
 
(362
)
Recognized Net Actuarial Loss
242

 
865

 
1,525

Curtailment Gain
—

 
(416
)
 
—

Net Periodic Benefit Cost
$
1,772

 
$
1,823

 
$
2,739
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year
Amounts included in accumulated other comprehensive loss which are expected to be recognized in 2020 net periodic benefit cost:
 
 
Pension
 
 
Benefits
Prior Service Cost Recognition
 
$
(221
)
Actuarial Loss Recognition
 
$
(383
)
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
The following table provides information related to the pension plan with an accumulated benefit obligation in excess of plan assets:
 
 
As of December 31,
 
 
2019
 
2018
Projected Benefit Obligation
 
$
40,196

 
$
33,569

Accumulated Benefit Obligation
 
$
40,196

 
$
33,169

Fair Value of Plan Assets
 
$
—

 
$
—
Schedule of Assumptions Used

The weighted-average assumptions used to determine benefit obligations are as follows:
 
 
As of December 31,
 
 
2019
 
2018
Discount Rate
 
3.36
%
 
4.37
%
Rate of Compensation Increase
 
—
%
 
3.63
%

The discount rates are determined using a Company-specific yield curve model (above-mean) developed with the assistance of an external actuary. The Company-specific yield curve models (above-mean) use a subset of the expanded bond universe to determine the Company-specific discount rate. Bonds used in the yield curve are rated AA by Moody's or Standard & Poor's as of the measurement date. The yield curve models parallel the plans' projected cash flows, and the underlying cash flows of the bonds included in the models exceed the cash flows needed to satisfy the Company plans.

The weighted-average assumptions used to determine net periodic benefit cost are as follows:
 
For the Years ended December 31,
 
2019
 
2018
 
2017
Discount Rate
4.37
%
 
4.28
%
 
4.26
%
Rate of Compensation Increase
3.63
%
 
4.05
%
 
3.90
%
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, are expected to be paid:
 
 
Pension
Year ended December 31,
 
Benefits
2020
 
$
1,588

2021
 
$
1,670

2022
 
$
1,760

2023
 
$
1,866

2024
 
$
2,063

Year 2025-2029
 
$
11,207
v3.19.3.a.u2
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The total fair value of options granted during the years ended December 31, 2019, 2018 and 2017 was $50, $143, and $353 respectively, based on the following assumptions and weighted average fair values:
 
 
December 31,
 
 
2019
 
2018
 
2017
Weighted Average Fair Value of Grants
 
$
3.48

 
$
6.50

 
$
6.19

Risk-free Interest Rate
 
2.13
%
 
2.66
%
 
1.66
%
Expected Dividend Yield
 
—
%
 
—
%
 
—
%
Expected Forfeiture Rate
 
—
%
 
—
%
 
—
%
Expected Volatility
 
43.60
%
 
52.68
%
 
50.85
%
Expected Term in Years
 
6.50

 
3.71

 
3.71
Share-based Compensation, Stock Options, Activity
A summary of the status of stock options granted is presented below:
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
Average
 
 
 
 
 
 
Weighted
 
Remaining
 
Aggregate
 
 
 
 
Average
 
Contractual
 
Intrinsic
 
 
 
 
Exercise
 
Term (in
 
Value (in
 
 
Shares
 
Price
 
years)
 
thousands)
Outstanding at December 31, 2018
 
5,442,920

 
$
18.74

 
 
 
 
Granted
 
14,368

 
$
7.54

 
 
 
 
Exercised
 
(79,468
)
 
$
6.87

 
 
 
 
Forfeited
 
(4,208
)
 
$
6.87

 
 
 
 
Expired
 
(677,348
)
 
$
24.29

 
 
 
 
Outstanding at December 31, 2019
 
4,696,264

 
$
18.05

 
4.49
 
$
5,280

Exercisable at December 31, 2019
 
4,681,896

 
$
18.04

 
4.47
 
$
5,261
Schedule of Nonvested Restricted Stock Units Activity The following table represents the nonvested restricted stock units and their corresponding fair value (based upon the closing share price) at the date of grant:
 
 
Number of
 
Weighted Average
 
 
Shares
 
Grant Date Fair Value
Nonvested at December 31, 2018
 
1,427,151

 
$14.30
Granted
 
963,426

 
$11.26
Vested
 
(1,052,235
)
 
$14.27
Forfeited
 
(305,142
)
 
$13.50
Nonvested at December 31, 2019
 
1,033,200

 
$11.71
Schedule of Nonvested Performance-based Units Activity The following table represents the nonvested performance share units and their corresponding fair value (based upon the Monte Carlo Methodology) on the date of grant:
 
 
Number of
 
Weighted Average
 
 
Shares
 
Grant Date Fair Value
Nonvested at December 31, 2018
 
1,344,985

 
$19.93
Granted
 
407,056

 
$16.56
PSUs Issued as a Result of 200% Payout
 
156,918

 
$22.63
Vested
 
(345,282
)
 
$22.21
Forfeited
 
(162,841
)
 
$17.83
Nonvested at December 31, 2019
 
1,400,836

 
$18.91
v3.19.3.a.u2
Supplemental Cash Flow Information (Tables)
 12 Months Ended
Dec. 31, 2019
Supplemental Cash Flow Information [Abstract]  
Schedule of Cash Flow, Supplemental Disclosures
The following table shows cash paid (received):
 
 
For the Years Ended December 31,
 
 
2019
 
2018
 
2017
Interest (Net of Amounts Capitalized)
 
$
143,111

 
$
144,756

 
$
152,047

Income Taxes
 
$
(138,409
)
 
$
(11,505
)
 
$
(121,773
)
v3.19.3.a.u2
Concentrations of Credit Risk and Major Customers - (Tables)
 12 Months Ended
Dec. 31, 2019
Risks and Uncertainties [Abstract]  
Schedules of Concentration of Risk, by Risk Factor
CNX markets natural gas primarily to gas wholesalers in the United States. Concentration of credit risk is summarized below:
 
 
December 31,
 
 
2019
 
2018
Gas Wholesalers
 
$
115,641

 
$
232,638

NGL, Condensate & Processing Facilities

 
10,140

 
12,595

Other
 
7,699

 
7,191

Total Accounts Receivable Trade
 
$
133,480

 
$
252,424
v3.19.3.a.u2
Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The financial instrument measured at fair value on a recurring basis is summarized below:
 
Fair Value Measurements at
December 31, 2019
 
Fair Value Measurements at
December 31, 2018
Description
Level 1
 
Level 2
 
Level 3
 
Level 1
 
Level 2
 
Level 3
Gas Derivatives
$
—

 
$
405,781

 
$
—

 
$
—

 
$
99,456

 
$
—
Fair Value, by Balance Sheet Grouping
The carrying amounts and fair values of financial instruments for which the fair value option was not elected are as follows:
 
December 31, 2019
 
December 31, 2018
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
Cash and Cash Equivalents
$
16,283

 
$
16,283

 
$
17,198

 
$
17,198

Long-Term Debt (Excluding Debt Issuance Costs)
$
2,763,433

 
$
2,619,676

 
$
2,387,001

 
$
2,290,537
v3.19.3.a.u2
Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
The total notional amounts of production of CNX's derivative instruments were as follows:
 
December 31,
 
Forecasted to
 
2019
 
2018
 
Settle Through
Natural Gas Commodity Swaps (Bcf)
1,460.6

 
1,484.4

 
2025
Natural Gas Basis Swaps (Bcf)
1,290.4

 
1,056.6

 
2025
Schedule of Derivative Liabilities at Fair Value
The gross fair value of CNX's derivative instruments was as follows:
Asset Derivative Instruments
 
Liability Derivative Instruments
 
December 31,
 
 
December 31,
 
2019
 
2018
 
 
2019
 
2018
Commodity Swaps:
 
 
 
 
 
 
 
Current Assets
$
234,238

 
$
28,612

 
Current Liabilities
$
345

 
$
34,640

Other Assets
288,543

 
164,310

 
Non-Current Liabilities
9,693

 
52,011

Total Asset
$
522,781

 
$
192,922

 
Total Liability
$
10,038

 
$
86,651

 
 
 
 
 
 
 
 
 
Basis Only Swaps:
 
 
 
 
 
 
 
 
Current Assets
$
13,556

 
$
11,628

 
Current Liabilities
$
40,626

 
$
27,021

Other Assets
25,553

 
48,788

 
Non-Current Liabilities
105,445

 
40,210

Total Asset
$
39,109

 
$
60,416

 
Total Liability
$
146,071

 
$
67,231
Schedule of Derivative Assets at Fair Value
The gross fair value of CNX's derivative instruments was as follows:
Asset Derivative Instruments
 
Liability Derivative Instruments
 
December 31,
 
 
December 31,
 
2019
 
2018
 
 
2019
 
2018
Commodity Swaps:
 
 
 
 
 
 
 
Current Assets
$
234,238

 
$
28,612

 
Current Liabilities
$
345

 
$
34,640

Other Assets
288,543

 
164,310

 
Non-Current Liabilities
9,693

 
52,011

Total Asset
$
522,781

 
$
192,922

 
Total Liability
$
10,038

 
$
86,651

 
 
 
 
 
 
 
 
 
Basis Only Swaps:
 
 
 
 
 
 
 
 
Current Assets
$
13,556

 
$
11,628

 
Current Liabilities
$
40,626

 
$
27,021

Other Assets
25,553

 
48,788

 
Non-Current Liabilities
105,445

 
40,210

Total Asset
$
39,109

 
$
60,416

 
Total Liability
$
146,071

 
$
67,231
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The effect of derivative instruments on the Company's Consolidated Statements of Income was as follows:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Cash Received (Paid) in Settlement of Commodity Derivative Instruments:
 
 
 
 
 
  Commodity Swaps:
 
 
 
 
 
    Natural Gas
$
82,899

 
$
(41,098
)
 
$
(34,928
)
    Propane
—

 
—

 
(1,216
)
  Natural Gas Basis Swaps
(13,119
)
 
(28,622
)
 
(5,030
)
Total Cash Received (Paid) in Settlement of Commodity Derivative Instruments
69,780

 
(69,720
)
 
(41,174
)
 
 
 
 
 
 
Unrealized Gain (Loss) on Commodity Derivative Instruments:
 
 
 
 
 
  Commodity Swaps:
 
 
 
 
 
    Natural Gas
406,472

 
33,026

 
319,605

    Propane
—

 
—

 
1,147

  Natural Gas Basis Swaps
(100,147
)
 
6,482

 
(72,648
)
Total Unrealized Gain on Commodity Derivative Instruments
306,325

 
39,508

 
248,104

 
 
 
 
 
 
Gain (Loss) on Commodity Derivative Instruments:
 
 
 
 
 
  Commodity Swaps:
 
 
 
 
 
    Natural Gas
$
489,371

 
$
(8,072
)
 
$
284,677

    Propane
—

 
—

 
(69
)
  Natural Gas Basis Swaps
(113,266
)
 
(22,140
)
 
(77,678
)
Total Gain (Loss) on Commodity Derivative Instruments
$
376,105

 
$
(30,212
)
 
$
206,930
v3.19.3.a.u2
Commitments and Contingent Liabilities (Tables)
 12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Long-term Purchase Commitment
At December 31, 2019, CNX has provided the following financial guarantees, unconditional purchase obligations, and letters of credit to certain third-parties as described by major category in the following tables. These amounts represent the maximum potential of total future payments that the Company could be required to make under these instruments. These amounts have not been reduced for potential recoveries under recourse or collateralization provisions. Generally, recoveries under reclamation bonds would be limited to the extent of the work performed at the time of the default. No amounts related to these unconditional purchase obligations and letters of credit are recorded as liabilities in the financial statements. CNX management believes that the commitments in the following table will expire without being funded, and therefore will not have a material adverse effect on financial condition.

 
Amount of Commitment Expiration Per Period
 
Total
Amounts
Committed
 
Less Than
1  Year
 
1-3 Years
 
3-5 Years
 
Beyond
5  Years
Letters of Credit:
 
 
 
 
 
 
 
 
 
Firm Transportation
$
197,776

 
$
148,526

 
$
49,250

 
$
—

 
$
—

Other
6,950

 
6,200

 
750

 
—

 
—

Total Letters of Credit
204,726

 
154,726

 
50,000

 
—

 
—

Surety Bonds:
 
 
 
 
 
 
 
 
 
Employee-Related
2,600

 
2,600

 
—

 
—

 
—

Environmental
12,763

 
12,503

 
260

 
—

 
—

Financial Guarantees
81,670

 
81,670

 
—

 
—

 
—

Other
9,254

 
7,970

 
1,284

 
—

 
—

Total Surety Bonds
106,287

 
104,743

 
1,544

 
—

 
—

Total Commitments
$
311,013

 
$
259,469

 
$
51,544

 
$
—

 
$
—
Unrecorded Unconditional Purchase Obligations Disclosure As of December 31, 2019, the purchase obligations for each of the next five years and beyond were as follows:
Obligations Due
Amount
Less than 1 year
$
256,613

1 - 3 years
483,807

3 - 5 years
406,915

More than 5 years
1,072,748

Total Purchase Obligations
$
2,220,083
v3.19.3.a.u2
Variable Interest Entities (Tables)
 12 Months Ended
Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Variable Interest Entities
The following table presents amounts included in the Company's Consolidated Balance Sheets that were for the use or obligation of CNXM:
 
December 31,
 
2019
 
2018
Assets:
 
 
 
Cash
$
31

 
$
3,966

Receivables - Related Party
21,076

 
17,073

Receivables - Third Party
7,935

 
7,028

Other Current Assets
1,976

 
2,383

Property, Plant and Equipment, net
1,195,591

 
891,775

Operating Lease ROU Asset
4,731

 
—

Other Assets
3,262

 
3,203

Total Assets
$
1,234,602

 
$
925,428

Liabilities:
 
 
 
Accounts Payable and Accrued Liabilities
$
67,290

 
$
43,919

Accounts Payable - Related Party
4,787

 
4,980

Revolving Credit Facility
311,750

 
84,000

Long-Term Debt
394,162

 
393,215

Total Liabilities
$
777,989

 
$
526,114


The following table summarizes CNXM's Consolidated Statements of Operations and Cash Flows, inclusive of affiliate amounts:
 
For the Years Ended December 31,
 
2019
 
2018
Revenue
 
 
 
Gathering Revenue - Related Party
$
231,482

 
$
167,048

Gathering Revenue - Third Party
74,315

 
89,620

Total Revenue
305,797

 
256,668

Expenses
 
 
 
Operating Expense - Related Party
22,943

 
19,814

Operating Expense - Third Party
23,964

 
27,343

General and Administrative Expense - Related Party
15,928

 
13,867

General and Administrative Expense - Third Party
5,769

 
8,595

Loss on Asset Sales and Abandonments, net
7,229

 
2,501

Depreciation Expense
24,371

 
21,939

Interest Expense
30,293

 
23,614

Total Expense
130,497

 
117,673

Net Income
$
175,300

 
$
138,995

 
 
 
 
Net Cash Provided by Operating Activities
$
217,062

 
$
180,115

Net Cash Used in Investing Activities
$
(327,615
)
 
$
(138,869
)
Net Cash Provided by (Used in) Financing Activities
$
106,618

 
$
(40,474
)

The following transactions were included in Other Operating Income and Transportation, Gathering and Compression in the Consolidated Statements of Income:
 
For the Year Ended
 
December 31, 2017
Other Operating Income:
 
     Equity in Earnings of Affiliates - CNX Gathering
$
9,823

     Equity in Earnings of Affiliates - CNXM
$
38,523

 
 
Transportation, Gathering and Compression:
 
     Gathering Services - CNX Gathering
$
914

     Gathering Services - CNXM
$
136,068
v3.19.3.a.u2
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Industry segment results for the year ended December 31, 2019 are:
 
Marcellus
Shale
 
Utica Shale
 
Coalbed
Methane
 
Other
Gas
 
Total E&P
 
Midstream
 
Unallocated
 
Intercompany Eliminations
 
Consolidated
 
Natural Gas, NGLs and Oil Revenue
$
934,728

 
$
264,548

 
$
163,893

 
$
1,156

 
$
1,364,325

 
$
—

 
$
—

 
$
—

 
$
1,364,325

(A)
Purchased Gas Revenue
—

 
—

 
—

 
94,027

 
94,027

 
—

 
—

 
—

 
94,027

 
Midstream Revenue
—

 
—

 
—

 
—

 
—

 
307,024

 
—

 
(232,710
)
 
74,314

  
Gain on Commodity Derivative Instruments
47,475

 
14,943

 
7,335

 
306,352

 
376,105

 
—

 
—

 
—

 
376,105

 
Other Operating Income
—

 
—

 
—

 
14,057

 
14,057

 
—

 
—

 
(379
)
 
13,678

(B)
Total Revenue and Other Operating Income
$
982,203

 
$
279,491

 
$
171,228

 
$
415,592

 
$
1,848,514

 
$
307,024

 
$
—

 
$
(233,089
)
 
$
1,922,449

  
Earnings (Loss) From Continuing Operations Before Income Tax
$
234,284

 
$
87,972

 
$
35,170

 
$
(497,869
)
 
$
(140,443
)
 
$
166,654

 
$
33,473

 
$
—

 
$
59,684

 
Segment Assets
 
 
 
 
 
 
 
 
$
6,745,091

 
$
2,230,676

 
$
78,708

 
$
6,331

 
$
9,060,806

(C)
Depreciation, Depletion and Amortization
 
 
 
 
 
 
 
 
$
474,352

 
$
34,111

 
$
—

 
$
—

 
$
508,463

  
Capital Expenditures
 
 
 
 
 
 
 
 
$
867,860

 
$
324,739

 
$
—

 
$
—

 
$
1,192,599

  

(A)
Included in Total Natural Gas, NGLs and Oil Revenue are sales of $214,980 to Direct Energy Business Marketing LLC and $147,540 to NJR Energy Services Company, each of which comprises over 10% of revenue from contracts with external customers for the period.
(B)
Includes equity in earnings of unconsolidated affiliates of $2,103 for Total E&P.
(C)
Includes investments in unconsolidated equity affiliates of $16,710 for Total E&P.

Industry segment results for the year ended December 31, 2018 are:
 
Marcellus
Shale
 
Utica Shale
 
Coalbed
Methane
 
Other
Gas
 
Total
E&P
 
Midstream
 
Unallocated
 
Intercompany Eliminations
 
Consolidated
 
Natural Gas, NGLs and Oil Revenue
$
903,316

 
$
445,880

 
$
212,884

 
$
15,857

 
$
1,577,937

 
$
—

 
$
—

 
$
—

 
$
1,577,937

(D)
Purchased Gas Revenue
—

 
—

 
—

 
65,986

 
65,986

 
—

 
—

 
—

 
65,986

 
Midstream Revenue
—

 
—

 
—

 
—

 
—

 
258,074

 
—

 
(168,293
)
 
89,781

 
(Loss) Gain on Commodity Derivative Instruments

(40,444
)
 
(19,882
)
 
(8,767
)
 
38,881

 
(30,212
)
 
—

 
—

 
—

 
(30,212
)
  
Other Operating Income
—

 
—

 
—

 
27,218

 
27,218

 
—

 
—

 
(276
)
 
26,942

(E)
Total Revenue and Other Operating Income
$
862,872

 
$
425,998

 
$
204,117

 
$
147,942

 
$
1,640,929

 
$
258,074

 
$
—

 
$
(168,569
)
 
$
1,730,434

  
Earnings (Loss) From Continuing Operations Before Income Tax
$
254,310

 
$
194,164

 
$
49,719

 
$
(253,577
)
 
$
244,616

 
$
133,811

 
$
720,241

 
$
—

 
$
1,098,668

 
Segment Assets
 
 
 
 
 
 
 
 
$
6,518,597

 
$
1,919,117

 
$
166,679

 
$
(12,223
)
 
$
8,592,170

(F)
Depreciation, Depletion and Amortization
 
 
 
 
 
 
 
 
$
461,149

 
$
32,274

 
$
—

 
$
—

 
$
493,423

  
Capital Expenditures
 
 
 
 
 
 
 
 
$
974,059

 
$
142,338

 
$
—

 
$
—

 
$
1,116,397

 
 
(D)
Included in Total Natural Gas, NGLs and Oil Revenue are sales of $219,472 to NJR Energy Services Company and $184,668 to Direct Energy Business Marketing LLC, each of which comprises over 10% of revenue from contracts with external customers for the period.
(E)
Includes equity in earnings of unconsolidated affiliates of $5,363 for Total E&P.
(F)
Includes investments in unconsolidated equity affiliates of $18,663 for Total E&P.
Industry segment results for the year ended December 31, 2017 are:
 
Marcellus
Shale
 
Utica Shale
 
Coalbed
Methane
 
Other
Gas
 
Total
E&P
 
Unallocated
 
Consolidated
 
Natural Gas, NGLs and Oil Revenue
$
646,188

 
$
217,020

 
$
208,677

 
$
53,339

 
$
1,125,224

 
$
—

 
$
1,125,224

(G)
Purchased Gas Revenue
—

 
—

 
—

 
53,795

 
53,795

 
—

 
53,795

 
(Loss) Gain on Commodity Derivative Instruments

(30,336
)
 
1,367

 
(9,589
)
 
245,488

 
206,930

 
—

 
206,930

  
Other Operating Income
—

 
—

 
—

 
69,182

 
69,182

 
—

 
69,182

(H)
Total Revenue and Other Operating Income
$
615,852

 
$
218,387

 
$
199,088

 
$
421,804

 
$
1,455,131

 
$
—

 
$
1,455,131

  
Earnings (Loss) From Continuing Operations Before Income Tax
$
91,436

 
$
64,741

 
$
20,346

 
$
(240,050
)
 
$
(63,527
)
 
$
182,108

 
$
118,581

 
Segment Assets
 
 
 
 
 
 
 
 
$
6,391,223

 
$
540,690

 
$
6,931,913

(I)
Depreciation, Depletion and Amortization
 
 
 
 
 
 
 
 
$
412,036

 
$
—

 
$
412,036

  
Capital Expenditures
 
 
 
 
 
 
 
 
$
632,846

 
$
—

 
$
632,846

 
 
(G)
Included in Total Natural Gas, NGLs and Oil Revenue are sales of $153,656 to Direct Energy Business Marketing LLC and $147,595 to NJR Energy Services Company, each of which comprises over 10% of revenue from contracts with external customers for the period.
(H)
Includes equity in earnings of unconsolidated affiliates of $49,830 for Total E&P.
(I)
Includes investments in unconsolidated equity affiliates of $197,921 for Total E&P.
Reconciliation of Revenue from Segments to Consolidated
Revenue and Other Operating Income:
 
 
For the Years Ended December 31,
 
 
2019
 
2018
 
2017
Total Segment Revenue from Contracts with External Customers
 
$
1,532,666

 
$
1,733,704

 
$
1,179,019

Gain (Loss) on Commodity Derivative Instruments
 
376,105

 
(30,212
)
 
206,930

Other Operating Income
 
13,678

 
26,942

 
69,182

Total Consolidated Revenue and Other Operating Income
 
$
1,922,449

 
$
1,730,434

 
$
1,455,131
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Earnings (Loss) From Continuing Operations Before Income Tax:
 
 
For the Years Ended December 31,
 
 
2019
 
2018
 
2017
Segment Earnings (Loss) Before Income Taxes for Reportable Business Segments:
 
 
 
 
 
 
E&P
 
$
(140,443
)
 
$
244,616

 
$
(63,527
)
Midstream
 
166,654

 
133,811

 
—

Total Segment Earnings (Loss) Before Income Taxes for Reportable Business Segments
 
26,211

 
378,427

 
(63,527
)
Unallocated Expenses:
 
 
 
 
 
 
Other (Expense) Income
 
(1,396
)
 
14,571

 
(3,826
)
Gain on Certain Asset Sales
 
42,483

 
154,775

 
188,063

Gain on Previously Held Equity Interest
 
—

 
623,663

 
—

Loss on Debt Extinguishment
 
(7,614
)
 
(54,118
)
 
(2,129
)
Impairment of Other Intangible Assets
 
—

 
(18,650
)
 
—

Earnings from Continuing Operations Before Income Tax
 
$
59,684

 
$
1,098,668

 
$
118,581
Reconciliation of Assets and Liabilities from Segment to Consolidated
Total Assets:
 
 
December 31,
 
2019
 
2018
Segment Assets for Total Reportable Business Segments:
 
 
 
 
E&P
 
$
6,745,091

 
$
6,518,597

Midstream
 
2,230,676

 
1,919,117

Intercompany Eliminations
 
6,331

 
(12,223
)
Items Excluded from Segment Assets:
 
 
 
 
Cash and Cash Equivalents
 
16,283

 
17,198

Recoverable Income Taxes
 
62,425

 
149,481

Total Consolidated Assets
 
$
9,060,806

 
$
8,592,170
v3.19.3.a.u2
Supplemental Gas Data (unaudited) (Tables)
 12 Months Ended
Dec. 31, 2019
Extractive Industries [Abstract]  
Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure
Capitalized Costs:
 
As of December 31,
 
2019
 
2018
Intangible Drilling Costs
$
4,688,497

 
$
4,120,283

Proved Gas Properties
1,208,046

 
1,135,411

Gas Gathering Assets
1,110,977

 
1,099,047

Unproved Gas Properties
755,590

 
927,667

Gas Wells and Related Equipment
1,042,000

 
856,973

Other Gas Assets
73,479

 
54,395

Total Property, Plant and Equipment
$
8,878,589

 
$
8,193,776

Accumulated Depreciation, Depletion and Amortization
(3,263,221
)
 
(2,475,917
)
Net Capitalized Costs
$
5,615,368

 
$
5,717,859
Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure
Costs incurred for property acquisition, exploration and development (*):
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Property Acquisitions:
 
 
 
 
 
Proved Properties
$
36,710

 
$
38,621

 
$
15,850

Unproved Properties
24,760

 
36,248

 
32,038

Development
739,874

 
844,081

 
544,809

Exploration
79,855

 
61,604

 
48,020

Total
$
881,199

 
$
980,554

 
$
640,717

__________
(*)
Includes costs incurred whether capitalized or expensed.
Results of Operations for Oil and Gas Producing Activities Disclosure
Results of Operations for Producing Activities:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Natural Gas, NGLs and Oil Revenue
$
1,364,325

 
$
1,577,937

 
$
1,125,224

Gain (Loss) on Commodity Derivative Instruments
376,105

 
(30,212
)
 
206,930

Purchased Gas Revenue
94,027

 
65,986

 
53,795

Total Revenue
1,834,457

 
1,613,711

 
1,385,949

Lease Operating Expense
65,443

 
95,139

 
88,932

Production, Ad Valorem, and Other Fees
27,461

 
32,750

 
29,267

Transportation, Gathering and Compression
516,879

 
424,206

 
382,865

Purchased Gas Costs
90,553

 
64,817

 
52,597

Impairment of Exploration and Production Properties
327,400

 
—

 
137,865

Impairment of Undeveloped Properties
119,429

 
—

 
—

Exploration Costs
44,380

 
12,033

 
48,074

Depreciation, Depletion and Amortization
474,352

 
461,149

 
412,036

Total Costs
1,665,897

 
1,090,094

 
1,151,636

Pre-tax Operating Income
168,560

 
523,617

 
234,313

Income Tax Expense (Benefit)
78,398

 
102,629

 
(348,676
)
Results of Operations for Producing Activities excluding Corporate and Interest Costs
$
90,162

 
$
420,988

 
$
582,989
Oil and Gas Net Production, Average Sales Price and Average Production Costs Disclosure
The following is production, average sales price and average production costs, excluding ad valorem and severance taxes, per unit of production:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Production (MMcfe)
539,149

 
507,104

 
407,166

Total Average Sales Price Before Effects of Commodity Derivative Financial Settlements (per Mcfe)
$
2.53

 
$
3.11

 
$
2.76

Average Effects of Commodity Derivative Financial Settlements (per Mcfe)
$
0.14

 
$
(0.15
)
 
$
(0.11
)
Total Average Sales Price Including Effects of Commodity Derivative Financial Settlements (per Mcfe)

$
2.66

 
$
2.97

 
$
2.66

Average Lifting Costs, Excluding Ad Valorem and Severance Taxes (per Mcfe)
$
0.12

 
$
0.19

 
$
0.22
Schedule of Gas and Oil Acreage The following table sets forth, at December 31, 2019, the number of producing wells, developed acreage and undeveloped acreage:
 
 
Gross
 
Net(1)
Producing Gas Wells (including Gob Wells)
 
6,512

 
4,510

Producing Oil Wells
 
151

 
—

Acreage Position:
 
 
 
 
   Proved Developed Acreage
 
337,700

 
337,700

   Proved Undeveloped Acreage
 
28,916

 
28,916

   Unproved Acreage
 
5,192,777

 
3,868,533

Total Acreage
 
5,559,393

 
4,235,149

____________
(1)
Net acres include acreage attributable to the Company's working interests of the properties. Additional adjustments (either increases or decreases) may be required as the Company further develops title to and further confirms its rights with respect to its various properties in anticipation of development. The Company believes that its assumptions and methodology in this regard are reasonable.
Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities The gas reserves estimates are as follows:
 
 
 
 
 
 
Condensate
 
Consolidated
 
 
Natural Gas
 
NGLs
 
& Crude Oil
 
Operations
 
 
(MMcf)
 
(Mbbls)
 
(Mbbls)
 
(MMcfe)
Balance December 31, 2016 (a)
 
5,828,399

 
60,532

 
10,009

 
6,251,648

Revisions (b)
 
(202,735
)
 
1,162

 
(5,834
)
 
(232,321
)
Price Changes
 
173,738

 
1,188

 
(159
)
 
181,470

Extensions and Discoveries (c)
 
1,769,029

 
17,887

 
1,800

 
1,887,153

Production
 
(364,893
)
 
(6,456
)
 
(589
)
 
(407,166
)
Sales of Reserves In-Place
 
(81,780
)
 
(2,622
)
 
(277
)
 
(99,172
)
Balance December 31, 2017 (a)
 
7,121,758

 
71,691

 
4,950

 
7,581,612

Revisions (d)
 
313,091

 
441

 
865

 
320,925

Price Changes
 
28,100

 
32

 
4

 
28,315

Extensions and Discoveries (c)
 
839,268

 
16,247

 
4,010

 
960,808

Production
 
(468,228
)
 
(6,011
)
 
(468
)
 
(507,104
)
Purchases of Reserves In-Place
 
317,437

 
756

 
—

 
321,975

Sales of Reserves In-Place (e)
 
(715,088
)
 
(17,252
)
 
(1,100
)
 
(825,196
)
Balance December 31, 2018 (a)
 
7,436,338

 
65,904

 
8,261

 
7,881,335

Revisions (f)
 
(521,617
)
 
5,926

 
(5,418
)
 
(518,570
)
Price Changes
 
(40,773
)
 
(740
)
 
(5
)
 
(45,246
)
Extensions and Discoveries (c)
 
1,569,813

 
10,182

 
2,732

 
1,647,297

Production
 
(505,355
)
 
(5,428
)
 
(204
)
 
(539,149
)
Balance December 31, 2019 (a)
 
7,938,406

 
75,844

 
5,366

 
8,425,667

 
 
 
 
 
 
 
 
 
Proved developed reserves:
 
 
 
 
 
 
 
 
December 31, 2017
 
4,051,526

 
56,022,000

 
3,567,000

 
4,409,065

December 31, 2018
 
4,242,579

 
40,180,000

 
1,870,000

 
4,494,878

December 31, 2019
 
4,473,534

 
59,800,000

 
1,087,000

 
4,838,858

 
 
 
 
 
 
 
 
 
Proved undeveloped reserves:
 
 
 
 
 
 
 
 
December 31, 2017
 
3,070,232

 
15,669,000

 
1,383,000

 
3,172,547

December 31, 2018
 
3,193,759

 
25,724,000

 
6,391,000

 
3,386,457

December 31, 2019
 
3,464,873

 
16,044,000

 
4,278,000

 
3,586,809

__________
(a)
Proved developed and proved undeveloped gas reserves are defined by SEC Rule 4.10(a) of Regulation S-X. Generally, these reserves would be commercially recovered under current economic conditions, operating methods and government regulations. CNX cautions that there are many inherent uncertainties in estimating proved reserve quantities, projecting future production rates and timing of development expenditures. Proved oil and gas reserves are estimated quantities of natural gas which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions and government regulations. Proved developed reserves are reserves expected to be recovered through existing wells, with existing equipment and operating methods.
(b)
The downward revisions for 2017 are due to corporate planning changes by our JV partner in Ohio Utica which resulted in all PUD's being removed, causing a 458 Bcfe downward revision, offset, in part, by improved well performance due to the enhanced RCS completions and improved operating costs.
(c)
Extensions and Discoveries in 2017, 2018, and 2019 are due to the addition of wells on the Company's Marcellus and Utica Shale acreage more than one offset location away with continued use of reliable technology.
(d)
The upward revision for 2018 of 321 Bcfe is primarily due to a 472 Bcfe upward revision from increased performance through our continued focus on optimization. This is partially offset by a 151 Bcfe downward revision due to plan changes.
(e)
The sales of reserves in-place is related to the divestiture of our Utica JV assets and substantially all of our conventional properties. Refer to Note 6 - Acquisitions and Dispositions for more information.
(f)
The downward revisions in 2019 are primarily due to removal of 872 Bcfe in reserves from plan changes which are the result of our continued focus on optimization and high grading initiatives. There was additionally a reduction of 304 Bcfe related to removal of proved undeveloped locations removed from our plans due to the SEC five-year development rule.
These downward revisions were partially offset by efficiencies in operations and optimization which increased reserves by 657 Bcfe.
 
 
For the Year
 
 
Ended
 
 
December 31,
 
 
2019
Proved Undeveloped Reserves (MMcfe)
 
 
Beginning Proved Undeveloped Reserves
 
3,386,457

Undeveloped Reserves Transferred to Developed (a)
 
(752,970
)
Revisions Due to 5 Year Rule
 
(303,787
)
Price Revisions
 
2,147

Revisions Due to Plan Changes (b)
 
(872,495
)
Revisions Due to Changes Due to Well Performance (c)
 
556,881

Extension and Discoveries (d)
 
1,570,576

Ending Proved Undeveloped Reserves(e)
 
3,586,809

_________
(a)
During 2019, various exploration and development drilling and evaluations were completed. Approximately, $334,062 of capital was spent in the year ended December 31, 2019 related to undeveloped reserves that were transferred to developed.
(b) The downward revisions for 2019 plan changes is due to removal of a portion of our Marcellus and Utica locations from our proved undeveloped reserves.
(c)
The upward revisions due to well performance is due to results from Marcellus Shale production.
(d)
Extensions and discoveries are due mainly to the addition of wells on our Marcellus and Utica Shale acreage more than one offset location away with continued use of reliable technology.
(e)
Included in proved undeveloped reserves at December 31,2019 are approximately 248,570 MMcfe of reserves that have been reported for more than five years. These reserves specifically relate to GOB (a rubble zone formed in the cavity created by the extraction of coal) production due to a complex fracture being generated in the overburden strata above the mined seam. Mining operations take a significant amount of time and our GOB forecasts are consistent with the future plans of the Buchanan Mine that was sold in March 2016 to Coronado IV LLC with the rights to this gas being retained by the Company. Evidence also exists that supports the continual operation of the mine beyond the current plan, unless there was an extreme circumstance resulting from an external factor. These reasons constitute the specific circumstances that exist to continue recognizing these reserves for CNX.
Schedule of Aging of Capitalized Exploratory Well Costs
The following table represents the capitalized exploratory well cost activity as indicated:
 
December 31,
 
2019
 
2018
 
2017
Costs reclassified to wells, equipment and facilities based on the determination of proved reserves
$
59,981

 
$
46,614

 
$
40,149

Costs expensed due to determination of dry hole or abandonment of project
$
—

 
$
809

 
$
—
Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure
The standardized measure is intended to provide a better means for comparing the value of CNX proved reserves at a given time with those of other gas producing companies than is provided by a comparison of raw proved reserve quantities.
 
 
December 31,
 
 
2019
 
2018
 
2017
Future Cash Flows (a)
 
 
 
 
 
 
Revenues
 
$
19,489,588

 
$
26,610,100

 
$
19,261,578

Production Costs
 
(7,903,120
)
 
(7,730,451
)
 
(7,234,303
)
Development Costs
 
(1,121,073
)
 
(1,600,128
)
 
(1,710,585
)
Income Tax Expense
 
(2,720,994
)
 
(4,147,075
)
 
(2,475,981
)
Future Net Cash Flows
 
7,744,401

 
13,132,446

 
7,840,709

Discounted to Present Value at a 10% Annual Rate
 
(4,673,932
)
 
(8,476,989
)
 
(4,709,311
)
Total Standardized Measure of Discounted Net Cash Flows
 
$
3,070,469

 
$
4,655,457

 
$
3,131,398


(a)
For 2019, the reserves were computed using unweighted arithmetic averages of the closing prices on the first day of each month during 2019, adjusted for energy content and a regional price differential. For 2019, this adjusted natural gas price was $2.24 per Mcf, the adjusted oil price was $44.31 per barrel and the adjusted NGL price was $19.10 per barrel.

For 2018, the reserves were computed using unweighted arithmetic averages of the closing prices on the first day of each month during 2018, adjusted for energy content and a regional price differential. For 2018, this adjusted natural gas price was $3.28 per Mcf, the adjusted oil price was $51.68 per barrel and the adjusted NGL price was $27.58 per barrel.

For 2017, the reserves were computed using unweighted arithmetic averages of the closing prices on the first day of each month during 2017, adjusted for energy content and a regional price differential. For 2017, this adjusted natural gas price was $2.44 per Mcf, the adjusted oil price was $38.65 per barrel and the adjusted NGL price was $23.61 per barrel.

    









The following are the principal sources of change in the standardized measure of discounted future net cash flows for consolidated operations during:
 
December 31,
 
2019
 
2018
 
2017
Balance at Beginning of Period
$
4,655,457

 
$
3,131,398

 
$
955,117

Net Changes in Sales Prices and Production Costs
(2,826,725
)
 
1,732,229

 
1,983,475

Sales Net of Production Costs
(1,130,685
)
 
(995,630
)
 
(831,131
)
Net Change Due to Revisions in Quantity Estimates
(252,796
)
 
307,030

 
(145,496
)
Net Change Due to Extensions, Discoveries and Improved Recovery
654,027

 
534,052

 
588,574

Development Costs Incurred During the Period
739,874

 
844,081

 
544,809

Difference in Previously Estimated Development Costs Compared to Actual Costs Incurred During the Period
(323,922
)
 
(434,817
)
 
(129,427
)
Purchase of Reserves In-Place
—

 
209,630

 
—

Sales of Reserves In-Place
—

 
(434,103
)
 
(55,277
)
Changes in Estimated Future Development Costs
(24,469
)
 
(49,294
)
 
(233,017
)
Net Change in Future Income Taxes
409,797

 
(507,410
)
 
(404,582
)
Timing and Other
586,591

 
(69,087
)
 
712,764

Accretion
583,320

 
387,378

 
145,589

     Total Discounted Cash Flow at End of Period
$
3,070,469

 
$
4,655,457

 
$
3,131,398
v3.19.3.a.u2
Supplemental Quarterly Info (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information
 
Three Months Ended
 
March 31,
 
June 30,
 
September 30,
 
December 31,
 
2019
 
2019
 
2019
 
2019
Revenue (A)
$
275,234

 
$
602,109

 
$
526,681

 
$
504,747

Expenses (B)
$
147,928

 
$
153,835

 
$
153,833

 
$
182,035

Net (Loss) Income (C)
$
(64,651
)
 
$
192,694

 
$
143,960

 
$
(240,055
)
Net (Loss) Income Attributable to CNX Resources Shareholders
$
(87,337
)
 
$
162,477

 
$
115,538

 
$
(271,408
)
(Loss) Earnings Per Share
 
 
 
 
 
 
 
Basic (Loss) Earnings Per Share
$
(0.44
)
 
$
0.85

 
$
0.62

 
$
(1.45
)
Diluted (Loss) Earnings Per Share
$
(0.44
)
 
$
0.84

 
$
0.61

 
$
(1.45
)


 
Three Months Ended
 
March 31,
 
June 30,
 
September 30,
 
December 31,
 
2018
 
2018
 
2018
 
2018
Revenue (A)
$
485,019

 
$
393,590

 
$
393,223

 
$
431,660

Expenses (B)
$
167,785

 
$
140,040

 
$
123,779

 
$
148,480

Net Income (C)
$
545,546

 
$
61,394

 
$
146,756

 
$
129,415

Net Income Attributable to CNX Resources Shareholders
$
527,563

 
$
42,014

 
$
125,029

 
$
101,927

Earnings Per Share
 
 
 
 
 
 
 
Basic Earnings Per Share
$
2.38

 
$
0.19

 
$
0.59

 
$
0.51

Diluted Earnings Per Share
$
2.35

 
$
0.19

 
$
0.59

 
$
0.50



(A) Includes natural gas, NGLs, and oil revenue; gain (loss) on commodity derivative instruments, purchased gas revenue and midstream revenue.
(B) Includes exploration and production costs and other operating expense; excludes DD&A, impairment charges, selling, general and administrative, loss on debt extinguishment, interest expense and other expense.
(C) Includes impairment charges of $327,400 and $119,429 that were recorded during the three months ended December 31, 2019 related to CNX's exploration and productions properties and unproved properties, respectively, and $18,650 that was recorded during the three months ended June 30, 2018 related to CNX's intangible assets. See Note 1 - Significant Accounting Policies in Item 8 of this Form 10-K for additional information.
v3.19.3.a.u2
Significant Accounting Policies (Details)
a in Thousands
 1 Months Ended 3 Months Ended 12 Months Ended
Jan. 03, 2018
USD ($)
May 31, 2018
USD ($)
Dec. 31, 2019
USD ($)
a
well
Jun. 30, 2018
USD ($)
Dec. 31, 2019
USD ($)
a
well
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Property, Plant and Equipment [Line Items]              
Producing Oil Wells | well     151,000   151,000    
Impairment of proved and unproved properties     $ 327,400,000 $ 18,650,000 $ 327,400,000 $ 0 $ 137,865,000
Impairment of Unproved Properties and Expirations         119,429,000 0 0
Goodwill impairment test, measurement period     5 years        
Impairment of intangible assets         $ 0 $ 18,650,000 $ 0
Company's matching contribution, percentage         6.00% 6.00% 6.00%
Discretionary contributions to the Plan, amount           $ 0 $ 0
Total payment and cost to the Plan         $ 3,460,000 3,205,000 2,866,000
Minimum              
Property, Plant and Equipment [Line Items]              
Discretionary contributions to the Plan, percentage         1.00%    
Maximum              
Property, Plant and Equipment [Line Items]              
Discretionary contributions to the Plan, percentage         6.00%    
Proved Properties              
Property, Plant and Equipment [Line Items]              
Impairment of proved and unproved properties           0 0
Unproved Properties              
Property, Plant and Equipment [Line Items]              
Impairment of proved and unproved properties             0
Building and Improvements | Minimum              
Property, Plant and Equipment [Line Items]              
Useful life of property, plant and equipment         10 years    
Building and Improvements | Maximum              
Property, Plant and Equipment [Line Items]              
Useful life of property, plant and equipment         45 years    
Machinery and Equipment | Minimum              
Property, Plant and Equipment [Line Items]              
Useful life of property, plant and equipment         3 years    
Machinery and Equipment | Maximum              
Property, Plant and Equipment [Line Items]              
Useful life of property, plant and equipment         25 years    
Gathering and Transmission | Minimum              
Property, Plant and Equipment [Line Items]              
Useful life of property, plant and equipment         30 years    
Gathering and Transmission | Maximum              
Property, Plant and Equipment [Line Items]              
Useful life of property, plant and equipment         40 years    
Knox and Coalfield              
Property, Plant and Equipment [Line Items]              
Impairment of long-lived assets             137,865,000
Exploration and Production Related Other Costs              
Property, Plant and Equipment [Line Items]              
Exploration expense         $ 44,380,000 12,033,000 $ 48,074,000
Midstream              
Property, Plant and Equipment [Line Items]              
Goodwill acquired during period $ 796,359,000            
Other intangible assets $ 128,781,000            
Customer Relationships              
Property, Plant and Equipment [Line Items]              
Useful life, customer relationship intangible assets         17 years    
Customer Relationships | Midstream              
Property, Plant and Equipment [Line Items]              
Impairment of intangible assets   $ 18,650,000       $ 18,650,000  
Useful life, customer relationship intangible assets   17 years          
Marcellus Shale | Central Pennsylvania              
Property, Plant and Equipment [Line Items]              
Producing Oil Wells | well     56   56    
Net acres of land | a     51   51    
Impairment of proved and unproved properties         $ 327,400,000    
Midstream | Operating Segments | Maximum              
Property, Plant and Equipment [Line Items]              
Percentage of fair value in excess of carrying amount (less than)     10.00%   10.00%    
v3.19.3.a.u2
Earnings Per Share Anti-Dilutive Options and Units Excluded from Earnings Per Share (Details) - shares
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from the computation of diluted earnings per share (in shares) 7,659,013 3,358,260 3,719,289
Anti-Dilutive Options      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from the computation of diluted earnings per share (in shares) 4,696,264 2,285,775 2,773,423
Anti-Dilutive Restricted Stock Units      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from the computation of diluted earnings per share (in shares) 1,282,582 0 18,598
Anti-Dilutive Performance Share Units      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from the computation of diluted earnings per share (in shares) 752,899 145,217 0
Anti-Dilutive Performance Share Options      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from the computation of diluted earnings per share (in shares) 927,268 927,268 927,268
v3.19.3.a.u2
Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Numerator:                      
Income from Continuing Operations                 $ 31,948 $ 883,111 $ 295,039
Less: Net Income Attributable to Noncontrolling Interests                 112,678 86,578 0
Net (Loss) Income from Continuing Operations Attributable to CNX Resources Shareholders                 (80,730) 796,533 295,039
Income from Discontinued Operations                 0 0 85,708
Net (Loss) Income Attributable to CNX Resources Shareholders $ (271,408) $ 115,538 $ 162,477 $ (87,337) $ 101,927 $ 125,029 $ 42,014 $ 527,563 $ (80,730) $ 796,533 $ 380,747
Denominator:                      
Weighted-average shares of common stock outstanding (in shares)                 190,727,122 212,348,581 228,835,112
Effect of diluted shares (in shares)                 0 2,280,384 2,116,700
Weighted-average diluted shares of common stock outstanding (in shares)                 190,727,122 214,628,965 230,951,812
(Loss) Earnings Per Share                      
Basic (Continuing Operations) (in usd per share)                 $ (0.42) $ 3.75 $ 1.29
Basic (Discontinued Operations) (in usd per share)                 0 0 0.37
Total Basic Earnings (Loss) Per Share (in usd per share) $ (1.45) $ 0.62 $ 0.85 $ (0.44) $ 0.51 $ 0.59 $ 0.19 $ 2.38 (0.42) 3.75 1.66
Diluted (Continuing Operations) (in usd per share)                 (0.42) 3.71 1.28
Diluted (Discontinued Operations) (in usd per share)                 0 0 0.37
Total Diluted Earnings (Loss) Per Share (in usd per share) $ (1.45) $ 0.61 $ 0.84 $ (0.44) $ 0.50 $ 0.59 $ 0.19 $ 2.35 $ (0.42) $ 3.71 $ 1.65
v3.19.3.a.u2
Shares of Common Stock Outstanding (Details) - Common Stock - shares
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Stock Option Activity Rollforward [Abstract]      
Balance, Beginning of Year (in shares) 198,663,342 223,743,322 229,443,008
Issuance Related to Stock-Based Compensation (in shares) 909,107 814,344 711,214
Retirement of Common Stock (in shares) (12,929,487) (25,894,324) (6,410,900)
Balance, End of Year (in shares) 186,642,962 198,663,342 223,743,322
v3.19.3.a.u2
Changes in Accumulated Other Comprehensive Income / (Loss) by Component (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Changes in Accumulated Other Comprehensive Loss [Roll Forward]      
Balance, Beginning of Period $ 5,081,743 $ 3,899,899 $ 3,940,888
Other Comprehensive Loss before Reclassifications (4,868)    
Amounts Reclassified from Accumulated Other Comprehensive Loss, net of tax 167    
Balance, End of Period 4,962,309 5,081,743 3,899,899
Accumulated Other Comprehensive Loss      
Changes in Accumulated Other Comprehensive Loss [Roll Forward]      
Balance, Beginning of Period (7,904) (8,476) (392,556)
Balance, End of Period $ (12,605) $ (7,904) $ (8,476)
v3.19.3.a.u2
Changes in Accumulated Other Comprehensive Loss Reclassification of Adjustments out of AOCI (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Net of Tax $ 167    
Actuarially Determined Long-Term Liability Adjustments (Note 16)      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Reclassification from AOCI before tax 225 $ 109 $ 20,268
Reclassification from AOCI, tax (benefit) 58 173 7,499
Net of Tax 167 (64) 12,769
Amortization of Prior Service Costs      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Reclassification from AOCI before tax (17) (193) (2,775)
Recognized Net Actuarial Loss      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Reclassification from AOCI before tax $ 242 $ 302 $ 23,043
v3.19.3.a.u2
Changes in Accumulated Other Comprehensive Loss Narrative (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
USD ($)
Equity [Abstract]  
ASU 2018-02 Reclassification $ 1,100
v3.19.3.a.u2
Revenue From Contracts With Customers Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Revenue from Contract with Customer [Abstract]    
Payment terms for contract with customers 25 days  
Receivables related to contracts with customers $ 133,480 $ 252,424
v3.19.3.a.u2
Revenue From Contracts With Customers Performance Obligation (Details)
$ in Thousands
Dec. 31, 2019
USD ($)
Revenue from Contract with Customer [Abstract]  
Remaining performance obligations $ 156,620
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01  
Revenue from Contract with Customer [Abstract]  
Remaining performance obligations $ 38,928
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligations, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01  
Revenue from Contract with Customer [Abstract]  
Remaining performance obligations $ 53,322
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligations, expected timing of satisfaction 2 years
v3.19.3.a.u2
Revenue From Contracts With Customers Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Disaggregation of Revenue [Line Items]                      
Gain (Loss) on Commodity Derivative Instruments                 $ 376,105 $ (30,212) $ 206,930
Other Operating Income                 13,678 26,942 69,182
Total Revenue and Other Operating Income $ 504,747 $ 526,681 $ 602,109 $ 275,234 $ 431,660 $ 393,223 $ 393,590 $ 485,019 1,922,449 1,730,434 1,455,131
Total Natural Gas, NGLs and Oil Revenue                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 1,364,325 1,577,937 1,125,224
Natural Gas                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 1,251,013 1,391,459 945,382
NGLs Revenue                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 104,139 165,883 156,132
Condensate Revenue                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 8,751 17,559 20,531
Oil Revenue                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 422 3,036 3,179
Purchased Gas Revenue                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 94,027 65,986 53,795
Midstream Revenue                      
Disaggregation of Revenue [Line Items]                      
Revenue from contracts with customers                 $ 74,314 $ 89,781 $ 0
v3.19.3.a.u2
Discontinued Operations Narrative (Details)
Nov. 30, 2017
company
Discontinued Operations and Disposal Groups [Abstract]  
Number of companies after spin-off 2
v3.19.3.a.u2
Discontinued Operations Financial Infomration for Discontinued Operations (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]      
Coal Revenue     $ 1,067,841
Other Outside Sales     60,066
Freight-Outside Coal     66,297
Miscellaneous Other Income     73,645
Total Revenue and Other Income     1,267,849
Total Costs     1,147,254
Income from Operations Before Income Taxes     120,595
Income Tax Expense     23,984
Less: Net Income Attributable to Noncontrolling Interest     10,903
Income from Discontinued Operations, net $ 0 $ 0 $ 85,708
v3.19.3.a.u2
Acquisitions and Dispositions Narrative (Details)
$ in Thousands
 1 Months Ended 3 Months Ended 12 Months Ended
Aug. 31, 2018
USD ($)
a
May 02, 2018
USD ($)
well
Mar. 30, 2018
USD ($)
Jan. 03, 2018
USD ($)
May 31, 2018
USD ($)
Sep. 30, 2017
USD ($)
a
Jun. 30, 2017
USD ($)
a
well
May 31, 2017
USD ($)
a
Apr. 30, 2017
USD ($)
Sep. 30, 2018
USD ($)
Dec. 31, 2019
USD ($)
a
well
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 14, 2017
Business Acquisition [Line Items]                            
Proved Undeveloped Acreage | a                     28,916,000      
Proceeds from sale of assets                     $ 45,160 $ 511,767 $ 414,185  
Net gain (loss) on sale                     35,563 157,015 188,063  
Impairment of other intangibles                     0 18,650 0  
Gain on remeasurement of fair value of previously held equity interest                     $ 0 623,663 0  
Producing Gas Wells (including Gob Wells) | well             12       6,512,000      
Drilled but uncompleted wells | well             15              
Midstream                            
Business Acquisition [Line Items]                            
Cash consideration transferred       $ 305,000                    
Fair value of previously held equity interest       799,033                    
Gain on remeasurement of fair value of previously held equity interest       $ 623,663                    
Ohio Utica Joint Venture Assets                            
Business Acquisition [Line Items]                            
Proved Undeveloped Acreage | a 26,000                          
Proceeds from sale of assets $ 381,124                          
Net gain (loss) on sale $ 130,710                          
Asset Exchange Agreement with HG Energy                            
Business Acquisition [Line Items]                            
Net gain (loss) on sale   $ 286                        
Cash proceeds from Asset Exchange Agreement   $ 7,000                        
Number of wells added to existing commitment | well   40                        
Shallow Oil, Gas, and CBM Assets in Pennsylvania and West Virginia                            
Business Acquisition [Line Items]                            
Net gain (loss) on sale     $ 4,227                      
Cash consideration received in sale of oil and gas assets     89,921                      
Asset retirement obligations assumed     $ 196,514                      
Surface Land, Colorado                            
Business Acquisition [Line Items]                            
Net gain (loss) on sale           $ 18,758                
Net acres of land | a           22,000                
Proceeds sale of land           $ 23,703                
Marcellus Shale Acres, Allegheny and Westmoreland County                            
Business Acquisition [Line Items]                            
Net gain (loss) on sale                   $ 15,251        
Net acres of land | a           7,500                
Proceeds sale of land                   $ 36,649        
Marcellus And Utica Shale, Allegheny, Washington And Westmoreland Counties                            
Business Acquisition [Line Items]                            
Net gain (loss) on sale             $ 58,541              
Net acres of land | a             11,100              
Proceeds sale of land             $ 83,500              
Marcellus And Utica Acres, Doddridge And Wetzel Counties                            
Business Acquisition [Line Items]                            
Net gain (loss) on sale             $ 9,430              
Net acres of land | a             11,000              
Proceeds sale of land             $ 125,507              
Utica Point Pleasant Shale Acres, Jefferson, Belmont And Guernsey Counties                            
Business Acquisition [Line Items]                            
Net gain (loss) on sale               $ 72,346            
Net acres of land | a               6,300            
Proceeds sale of land               $ 76,585            
Knox and Coalfield                            
Business Acquisition [Line Items]                            
Net gain (loss) on sale                       606    
Impairment on Assets Held for Sale                         $ 137,865  
CNX Gathering                            
Business Acquisition [Line Items]                            
Ownership percentage in equity method investment                     100.00%     50.00%
Customer Relationships | Midstream                            
Business Acquisition [Line Items]                            
Impairment of other intangibles         $ 18,650             $ 18,650    
CONE Midstream GP LLC                            
Business Acquisition [Line Items]                            
Ownership percentage by parent                           100.00%
Discontinued Operations, Disposed of by Sale | Knox and Coalfield                            
Business Acquisition [Line Items]                            
Proceeds from sale of subsidiary, previously classified as held for sale                 $ 19,055          
v3.19.3.a.u2
Acquisitions and Dispositions Consideration Given In Acquisition (Details) - Midstream
$ in Thousands
Jan. 03, 2018
USD ($)
Business Acquisition [Line Items]  
Cash Consideration $ 305,000
CNX Gathering Cash on Hand at January 3, 2018 Distributed to Noble 2,620
Fair Value of Previously Held Equity Interest 799,033
Total Estimated Fair Value of Consideration Transferred $ 1,106,653
v3.19.3.a.u2
Acquisitions and Dispositions Fair Value of Net Assets Acquired (Details) - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Jan. 03, 2018
Fair Value of Liabilities Assumed:      
Goodwill (Note 11) $ 796,359 $ 796,359  
Midstream      
Fair Value of Assets Acquired:      
Cash and Cash Equivalents     $ 8,348
Accounts and Notes Receivable     21,199
Prepaid Expense     2,006
Other Current Assets     163
Property, Plant and Equipment, Net     1,043,340
Intangible Assets     128,781
Other     593
Total Assets Acquired     1,204,430
Fair Value of Liabilities Assumed:      
Accounts Payable     26,059
CNXM Revolving Credit Facility     149,500
Total Liabilities Assumed     175,559
Total Identifiable Net Assets     1,028,871
Fair Value of Noncontrolling Interest in CNXM     (718,577)
Goodwill (Note 11)     796,359
Net Assets Acquired     $ 1,106,653
v3.19.3.a.u2
Acquisitions and Dispositions Post Acquisition Operating Results (Details) - Midstream - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Business Acquisition [Line Items]    
Midstream Revenue $ 307,024 $ 258,074
Earnings from Continuing Operations Before Income Tax $ 166,654 $ 133,811
v3.19.3.a.u2
Acquisitions and Dispositions Pro Forma Financial Information (Details) - Midstream
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2017
USD ($)
$ / shares
Business Acquisition [Line Items]  
Pro Forma Total Revenue and Other Operating Income $ 1,553,078
Pro Forma Net Income from Continuing Operations 427,381
Less: Pro Forma Net Income Attributable to Noncontrolling Interests 74,251
Pro Forma Net Income from Continuing Operations Attributable to CNX $ 353,130
Pro Forma Income(Loss) per Share from Continuing Operations (Basic) (in usd per share) | $ / shares $ 1.33
Pro Forma Income(Loss) per Share from Continuing Operations (Diluted) (in usd per share) | $ / shares $ 1.33
v3.19.3.a.u2
Stock Repurchase (Details)
 12 Months Ended
Dec. 31, 2019
USD ($)
$ / shares
shares
Equity [Abstract]  
Share repurchase program, authorized amount $ 750,000
Stock repurchased during period (in shares) | shares 12,929,487
Treasure stock acquired (in usd per share) | $ / shares $ 8.91
Stock repurchased and retired $ 115,477,000
v3.19.3.a.u2
Income Taxes Income Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Current:      
U.S. Federal $ (51,243) $ (130,003) $ (31,791)
U.S. State (113) 0 (1,838)
Current income tax (benefit) (51,356) (130,003) (33,629)
Deferred:      
U.S. Federal 47,717 319,813 (166,112)
U.S. State 31,375 25,747 23,283
Deferred income tax (benefit) 79,092 345,560 (142,829)
Income Tax Expense (Benefit) / Effective Rate $ 27,736 $ 215,557 $ (176,458)
v3.19.3.a.u2
Income Taxes Net Deferred Tax Assets/Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Deferred Tax Assets:    
Net Operating Loss- Federal $ 51,241 $ 102,482
Net Operating Loss - State 202,913 124,341
Alternative Minimum Tax 130,430 110,339
Foreign Tax Credit 43,194 43,194
Interest Limitation 25,734 32,147
Gas Well Closing 9,308 13,096
Equity Compensation 17,888 10,140
Salary Retirement 9,236 9,434
Finance Lease 1,209 1,624
Other 10,030 13,714
Total Deferred Tax Assets 501,183 460,511
Valuation Allowance (125,054) (94,455)
Net Deferred Tax Assets 376,129 366,056
Deferred Tax Liabilities:    
Property, Plant and Equipment (593,401) (606,342)
Investment in Partnership (145,424) (125,253)
Gas Derivatives (105,721) (26,160)
Advance Gas Royalties (3,337) (3,384)
Other (4,354) (3,599)
Total Deferred Tax Liabilities (852,237) (764,738)
Net Deferred Tax Liability $ 476,108 $ 398,682
v3.19.3.a.u2
Income Taxes Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Mar. 21, 2018
Valuation Allowance [Line Items]        
Net Operating Loss - State $ 202,913,000 $ 124,341,000    
Deferred tas asset, federal alternative minimum tax credit 51,241,000 102,482,000    
Decrease in federal alternative minimum tax 51,241,000      
Valuation allowance on foreign tax credits 43,194,000 43,194,000    
Valuation Allowance 125,054,000 94,455,000    
Deferred tax asset related to state operating losses 130,430,000 110,339,000    
Reduction in income tax expense due to non-controlling interest (23,662,000) (18,181,000) $ 0  
Tax Cuts And Jobs Act Of 2017, revaluation of deferred tax assets and liabilities, benefit     115,291,000  
Tax Cuts and Jobs Act of 2017, AMT credit carryforward   12,413,000 $ 154,385,000  
Tax Cuts And Jobs Act Of 2017, federal net operating loss carryback   23,483,000    
Unrecognized tax benefits that would impact effective tax rate 31,516,000 31,516,000    
Increase in Unrecognized Tax Benefits Resulting from Tax Positions Taken During Prior Periods 0 2,140,000    
Reduction to unrecognized tax benefits, from position taken on state tax return 0 8,437,000    
Accrued liability relating to uncertain tax positions 0 0    
Interest income included in accrued interest liability 644,000 337,000    
Accrued liabilities for tax penalties 0      
Reduction to net operation loss, resulting from income tax examination       $ 108,651,000
Alternative Minimum Tax Credit        
Valuation Allowance [Line Items]        
Increase (decrease) in valuation allowance, federal alternative minimum tax credit   12,413,000    
Charitable Contributions        
Valuation Allowance [Line Items]        
Increase (decrease) in valuation allowance, federal alternative minimum tax credit (2,639,000)      
Valuation Allowance 658,000 3,297,000    
State operating losses        
Valuation Allowance [Line Items]        
Valuation Allowance $ 81,202,000 $ 47,964,000    
v3.19.3.a.u2
Income Taxes Effective Tax Rate Reconciliation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Statutory U.S. Federal Income Tax Rate $ 12,534 $ 230,721 $ 41,503
Net Effect of State Income Taxes 1,333 60,814 15,538
Non-Controlling Interest (23,662) (18,181) 0
Uncertain Tax Positions 0 (4,265) 27,359
Effect of Spin on Federal NOL's 0 0 24,942
Accrual to Tax Return Reconciliation 603 3,028 (1,147)
Effect of Equity Compensation 8,771 0 0
Effect of Change in State Valuation Allowance 33,238 (22,684) (430)
Effect of Change in Federal Valuation Allowance (2,640) (18,110) (145,772)
Other Deferred Adjustments (1,691) 5,957 7,616
Effect of Federal and State Rate Reductions (3,842) (27,429) (131,784)
Effect of Federal Tax Credits 2,881 1,208 (19,081)
Other 211 4,498 4,798
Income Tax Expense (Benefit) / Effective Rate $ 27,736 $ 215,557 $ (176,458)
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Statutory U.S. Federal Income Tax Rate 21.00% 21.00% 35.00%
Net Effect of State Income Taxes 2.20% 5.60% 13.10%
Non-Controlling Interest (39.60%) (1.70%) 0.00%
Uncertain Tax Positions 0.00% (0.40%) 23.10%
Effect of Spin on Federal NOL's 0.00% 0.00% 21.00%
Accrual to Tax Return Reconciliation 1.00% 0.30% (1.00%)
Effect of Equity Compensation 14.70% 0.00% 0.00%
Effect of Change in State Valuation Allowance 55.60% (2.10%) (0.40%)
Effect of Change in Federal Valuation Allowance (4.40%) (1.70%) (122.90%)
Other Deferred Adjustments (2.80%) 0.60% 6.40%
Effect of Federal and State Rate Reductions (6.40%) (2.50%) (111.10%)
Effect of Federal Tax Credits 4.80% 0.10% (16.10%)
Other 0.40% 0.40% 4.00%
Income Tax Expense (Benefit) / Effective Rate 46.50% 19.60% (148.90%)
v3.19.3.a.u2
Income Taxes Reconcililation of Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]    
Balance at Beginning of Period $ 31,516 $ 37,813
Increase in Unrecognized Tax Benefits Resulting from Tax Positions Taken During Prior Periods 0 2,140
Reduction in Unrecognized Tax Benefits Because of the Lapse of the Applicable Statute of Limitations 0 (8,437)
Balance at End of Period $ 31,516 $ 31,516
v3.19.3.a.u2
Asset Retirement Obligations (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]    
Balance, Beginning of Year $ 38,554 $ 204,070
Obligations Divested 0 (196,643)
Accretion Expense 9,458 9,874
Obligations Incurred 2,933 4,795
Obligations Settled (4,231) (5,323)
Revisions in Estimated Cash Flows 21,740 21,781
Balance, End of Year $ 68,454 $ 38,554
v3.19.3.a.u2
Property, Plant and Equipment (Details) - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Property, Plant and Equipment [Abstract]    
Intangible Drilling Cost $ 4,688,497 $ 4,120,283
Gas Gathering Equipment 2,463,866 2,126,895
Proved Gas Properties 1,208,046 1,135,411
Gas Wells and Related Equipment 1,042,000 859,359
Unproved Gas Properties 755,590 927,667
Surface Land and Other Equipment 226,285 238,487
Other 187,722 159,326
Total 10,572,006 9,567,428
Less: Accumulated Depreciation, Depletion and Amortization 3,435,431 2,624,984
Total Property, Plant and Equipment—Net $ 7,136,575 $ 6,942,444
v3.19.3.a.u2
Property, Plant and Equipment Assets Amortized by Units of Production (Details) - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Property, Plant and Equipment [Line Items]    
Unproved Gas Properties $ 755,590 $ 927,667
Total 10,572,006 9,567,428
Assets amortized by units of production    
Property, Plant and Equipment [Line Items]    
Unproved Gas Properties 755,590 927,667
Advance Royalties 12,770 12,863
Total $ 768,360 $ 940,530
v3.19.3.a.u2
Property, Plant and Equipment Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Capital Leased Assets [Line Items]    
Interest costs capitalized $ 5,482 $ 1,075
Finance lease right-of-use assets, gross 72,916  
Capital leased assets, gross   73,144
Accumulated amortization for finance lease right of use asset 63,008  
Accumulated amortization for capital leases   59,517
Jewell Ridge Pipeline    
Capital Leased Assets [Line Items]    
Finance lease right-of-use assets, gross 66,919  
Capital leased assets, gross   66,919
Vehicles    
Capital Leased Assets [Line Items]    
Finance lease right-of-use assets, gross $ 5,997  
Capital leased assets, gross   $ 6,225
v3.19.3.a.u2
Goodwill and Other Intangible Assets (Details) - USD ($)
 12 Months Ended
Jan. 03, 2018
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Goodwill [Line Items]        
Impairment of intangible assets   $ 0 $ 18,650,000 $ 0
Amortization expense   6,553,000 6,931,000  
Estimated annual amortization expense expected, 2020   6,552,000    
Estimated annual amortization expense expected, 2021   6,522,000    
Estimated annual amortization expense expected, 2022   6,522,000    
Estimated annual amortization expense expected, 2023   6,522,000    
Estimated annual amortization expense expected, 2024   $ 6,522,000    
Midstream Acquisition        
Goodwill [Line Items]        
Goodwill acquired during period $ 796,359,000      
Other intangible assets $ 128,781,000      
Customer Relationships        
Goodwill [Line Items]        
Useful life, customer relationship intangible assets   17 years    
Customer Relationships | Midstream Acquisition        
Goodwill [Line Items]        
Impairment of intangible assets   $ 0 $ 18,650,000 $ 0
v3.19.3.a.u2
Goodwill and Other Intangible Assets Carrying Amount and Accumulated Amortization of Intangible Assets (Details) - Customer Relationships - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Other Intangible Assets    
Gross Amortizable Asset - Customer Relationships $ 109,752 $ 109,752
Less: Accumulated Amortization - Customer Relationships 13,105 6,552
Total Other Intangible Assets, net $ 96,647 $ 103,200
v3.19.3.a.u2
Revolving Credit Facilities (Details)
 1 Months Ended 9 Months Ended 12 Months Ended
Apr. 30, 2019
USD ($)
Sep. 30, 2019
Dec. 31, 2019
USD ($)
Oct. 31, 2019
USD ($)
Jun. 30, 2019
USD ($)
Dec. 31, 2018
USD ($)
Short-term Debt [Line Items]            
Number of days outstanding, prior to springing maturity date   91 days        
Value of proved reserves, percentage to mortgage     80.00%      
Value of proved developing producing reserves, percentage to mortgage     80.00%