Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2020 | Jul. 31, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001710366 | |
Entity Registrant Name | CONSOL Energy Inc | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-38147 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 82-1954058 | |
Entity Address, Address Line One | 1000 CONSOL Energy Drive, Suite 100 | |
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 | 416-8300 | |
Title of 12(b) Security | Common Stock, $0.01 par value | |
Trading Symbol | CEIX | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 26,034,198 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | ||
Total Revenue from Contracts with Customers | $ 121,296 | $ 371,182 | $ 396,396 | $ 728,165 | |
Miscellaneous Other Income | 33,936 | 12,194 | 50,106 | 25,486 | |
Gain on Sale of Assets | 7,329 | 933 | 7,315 | 1,272 | |
Total Revenue and Other Income | 162,561 | 384,309 | 453,817 | 754,923 | |
Costs and Expenses: | |||||
Operating and Other Costs | 116,406 | 253,448 | 328,681 | 483,561 | |
Depreciation, Depletion and Amortization | 46,155 | 46,151 | 101,098 | 96,875 | |
Freight Expense | 3,085 | 3,854 | 6,232 | 10,516 | |
Selling, General and Administrative Costs | 10,939 | 16,288 | 28,609 | 38,211 | |
Loss (Gain) on Debt Extinguishment | 0 | 1,500 | (16,833) | 24,643 | |
Interest Expense, net | 14,722 | 16,046 | 30,393 | 34,642 | |
Total Costs and Expenses | 191,307 | 337,287 | 478,180 | 688,448 | |
(Loss) Earnings Before Income Tax | (28,746) | 47,022 | (24,363) | 66,475 | |
Income Tax Benefit | (7,683) | (1,808) | (5,775) | (2,658) | |
Net (Loss) Income | (21,063) | 48,830 | (18,588) | 69,133 | |
Less: Net (Loss) Income Attributable to Noncontrolling Interest | (3,080) | 5,550 | (2,972) | 11,418 | |
Net (Loss) Income Attributable to CONSOL Energy Inc. Shareholders | $ (17,983) | $ 43,280 | $ (15,616) | $ 57,715 | |
(Loss) Earnings per Share: | |||||
Total Basic (Loss) Earnings per Share (in dollars per share) | $ (0.69) | $ 1.57 | $ (0.60) | $ 2.10 | |
Total Dilutive (Loss) Earnings per Share (in dollars per share) | $ (0.69) | $ 1.56 | $ (0.60) | $ 2.08 | |
Coal Revenue [Member] | |||||
Total Revenue from Contracts with Customers | [1] | $ 102,313 | $ 350,620 | $ 357,765 | $ 683,123 |
Terminal Revenue [Member] | |||||
Total Revenue from Contracts with Customers | 15,898 | 16,708 | 32,399 | 34,526 | |
Freight Revenue [Member] | |||||
Total Revenue from Contracts with Customers | $ 3,085 | $ 3,854 | $ 6,232 | $ 10,516 | |
[1] | For the three and six months ended June 30, 2020 and 2019, the PAMC segment had revenues from the following customers, each comprising over 10% of the Company’s total sales |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net (Loss) Income | $ (21,063) | $ 48,830 | $ (18,588) | $ 69,133 |
Other Comprehensive Income: | ||||
Actuarially Determined Long-Term Liability Adjustments (Net of tax: ($1,214), ($781), ($2,428), ($1,562)) | 3,624 | 2,459 | 7,248 | 4,919 |
Unrecognized Loss on Derivatives: | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Total | (12) | (264) | (2,785) | (264) |
Other Comprehensive Income | 3,612 | 2,195 | 4,463 | 4,655 |
Comprehensive (Loss) Income | (17,451) | 51,025 | (14,125) | 73,788 |
Less: Comprehensive (Loss) Income Attributable to Noncontrolling Interest | (3,065) | 5,549 | (2,942) | 11,416 |
Comprehensive (Loss) Income Attributable to CONSOL Energy Inc. Shareholders | $ (14,386) | $ 45,476 | $ (11,183) | $ 62,372 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Actuarially Determined Long-Term Liability Adjustments, Tax | $ 1,214 | $ 1,214 | $ 781 | $ 781 | $ 2,428 | $ 1,562 |
Unrealized Loss on Cash Flow Hedges, Tax | $ 4 | $ 933 | $ 84 | $ 937 | $ 84 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Current Assets: | ||
Cash and Cash Equivalents | $ 33,027 | $ 80,293 |
Accounts and Notes Receivable | ||
Trade Receivables, net | 99,993 | 131,688 |
Other Receivables, net | 27,836 | 40,984 |
Inventories | 61,041 | 54,131 |
Prepaid Expenses and Other Assets | 21,083 | 30,933 |
Total Current Assets | 242,980 | 338,029 |
Property, Plant and Equipment: | ||
Property, Plant and Equipment | 5,063,942 | 5,008,180 |
Less—Accumulated Depreciation, Depletion and Amortization | 2,996,331 | 2,916,015 |
Total Property, Plant and Equipment—Net | 2,067,611 | 2,092,165 |
Other Assets: | ||
Deferred Income Taxes | 108,898 | 103,505 |
Right of Use Asset - Operating Leases | 62,909 | 72,632 |
Other, net | 83,734 | 87,471 |
Total Other Assets | 255,541 | 263,608 |
TOTAL ASSETS | 2,566,132 | 2,693,802 |
Current Liabilities: | ||
Accounts Payable | 66,452 | 106,223 |
Current Portion of Long-Term Debt | 66,925 | 50,272 |
Other Accrued Liabilities | 240,526 | 235,769 |
Total Current Liabilities | 373,903 | 392,264 |
Long-Term Debt: | ||
Long-Term Debt | 595,360 | 653,802 |
Finance Lease Obligations | 23,540 | 9,036 |
Total Long-Term Debt | 618,900 | 662,838 |
Deferred Credits and Other Liabilities: | ||
Postretirement Benefits Other Than Pensions | 425,493 | 432,496 |
Pneumoconiosis Benefits | 201,174 | 202,142 |
Asset Retirement Obligations | 228,648 | 250,211 |
Workers’ Compensation | 61,189 | 61,194 |
Salary Retirement | 38,947 | 49,930 |
Operating Lease Liability | 45,479 | 55,413 |
Other | 16,524 | 14,919 |
Total Deferred Credits and Other Liabilities | 1,017,454 | 1,066,305 |
TOTAL LIABILITIES | 2,010,257 | 2,121,407 |
Stockholders' Equity: | ||
Common Stock, $0.01 Par Value; 62,500,000 Shares Authorized, 26,034,198 Issued and Outstanding at June 30, 2020; 25,932,618 Issued and Outstanding at December 31, 2019 | 260 | 259 |
Capital in Excess of Par Value | 530,224 | 523,762 |
Retained Earnings | 240,989 | 259,903 |
Accumulated Other Comprehensive Loss | (344,292) | (348,725) |
Total CONSOL Energy Inc. Stockholders' Equity | 427,181 | 435,199 |
Noncontrolling Interest | 128,694 | 137,196 |
TOTAL EQUITY | 555,875 | 572,395 |
TOTAL LIABILITIES AND EQUITY | $ 2,566,132 | $ 2,693,802 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2020 | Dec. 31, 2019 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock shares authorized (in shares) | 62,500,000 | 62,500,000 |
Common stock shares issued (in shares) | 26,034,198 | 25,932,618 |
Common stock shares outstanding (in shares) | 26,034,198 | 25,932,618 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Noncontrolling Interest [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | CONSOL Coal Resources L P MemberCommon Stock [Member] | CONSOL Coal Resources L P MemberAdditional Paid-in Capital [Member] | CONSOL Coal Resources L P MemberRetained Earnings [Member] | CONSOL Coal Resources L P MemberAOCI Attributable to Parent [Member] | CONSOL Coal Resources L P MemberParent [Member] | CONSOL Coal Resources L P MemberNoncontrolling Interest [Member] | CONSOL Coal Resources L P Member | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Parent [Member] | Noncontrolling Interest [Member] | Total |
Balance at Dec. 31, 2018 | $ 274 | $ 550,995 | $ 182,148 | $ (323,482) | $ 409,935 | $ 141,676 | $ 551,611 | ||||||||||||||
Net Income (loss) | 0 | 0 | 14,435 | 0 | 14,435 | 5,868 | 20,303 | ||||||||||||||
Actuarially Determined Long-Term Liability Adjustments | 0 | 0 | 0 | 2,461 | 2,461 | (1) | 2,460 | ||||||||||||||
Comprehensive Income | 0 | 0 | 14,435 | 2,461 | 16,896 | 5,867 | 22,763 | ||||||||||||||
Issuance of Common Stock | 2 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
Issuance of Common Stock | (2) | ||||||||||||||||||||
Amortization of Stock-Based Compensation Awards | 0 | 7,053 | 0 | 0 | 7,053 | 7,450 | |||||||||||||||
Amortization of Stock-Based Compensation Awards | 397 | ||||||||||||||||||||
Shares/Units Withheld for Taxes | 0 | (3,863) | 0 | 0 | (3,863) | (880) | (4,743) | ||||||||||||||
Distributions to Noncontrolling Interest | 0 | 0 | 0 | 0 | 0 | (5,559) | (5,559) | ||||||||||||||
Balance at Mar. 31, 2019 | 276 | 554,183 | 196,583 | (321,021) | 430,021 | 141,501 | 571,522 | ||||||||||||||
Balance at Dec. 31, 2018 | 274 | 550,995 | 182,148 | (323,482) | 409,935 | 141,676 | 551,611 | ||||||||||||||
Net Income (loss) | 69,133 | ||||||||||||||||||||
Actuarially Determined Long-Term Liability Adjustments | 4,919 | ||||||||||||||||||||
Interest Rate Hedge | (264) | ||||||||||||||||||||
Comprehensive Income | 73,788 | ||||||||||||||||||||
Interest Rate Hedge | 264 | ||||||||||||||||||||
Balance at Jun. 30, 2019 | 273 | 549,686 | 237,369 | (318,825) | 468,503 | 141,740 | 610,243 | ||||||||||||||
Balance at Mar. 31, 2019 | 276 | 554,183 | 196,583 | (321,021) | 430,021 | 141,501 | 571,522 | ||||||||||||||
Net Income (loss) | 0 | 0 | 43,280 | 0 | 43,280 | 5,550 | 48,830 | ||||||||||||||
Actuarially Determined Long-Term Liability Adjustments | 0 | 0 | 0 | 2,460 | 2,460 | (1) | 2,459 | ||||||||||||||
Interest Rate Hedge | 0 | 0 | 0 | (264) | (264) | 0 | (264) | ||||||||||||||
Comprehensive Income | 0 | 0 | 43,280 | 2,196 | 45,476 | 5,549 | 51,025 | ||||||||||||||
Amortization of Stock-Based Compensation Awards | 0 | 2,584 | 0 | 0 | 2,584 | 2,925 | |||||||||||||||
Amortization of Stock-Based Compensation Awards | 341 | ||||||||||||||||||||
Distributions to Noncontrolling Interest | 0 | 0 | 0 | 0 | 0 | (5,560) | (5,560) | ||||||||||||||
Interest Rate Hedge | 0 | 0 | 0 | 264 | 264 | 0 | 264 | ||||||||||||||
Repurchases of Common Stock | (3) | (7,053) | (2,494) | 0 | (9,550) | 0 | (9,550) | ||||||||||||||
Purchases of CCR Units | $ 0 | $ (28) | $ 0 | $ 0 | $ (28) | $ (91) | $ (119) | ||||||||||||||
Balance at Jun. 30, 2019 | 273 | 549,686 | 237,369 | (318,825) | 468,503 | 141,740 | 610,243 | ||||||||||||||
Balance at Dec. 31, 2019 | 259 | 523,762 | 259,903 | (348,725) | 435,199 | 137,196 | 572,395 | ||||||||||||||
Net Income (loss) | 0 | 0 | 2,367 | 0 | 2,367 | 108 | 2,475 | ||||||||||||||
Actuarially Determined Long-Term Liability Adjustments | 0 | 0 | 0 | 3,609 | 3,609 | 15 | 3,624 | ||||||||||||||
Interest Rate Hedge | 0 | 0 | 0 | (2,773) | (2,773) | 0 | (2,773) | ||||||||||||||
Comprehensive Income | 0 | 0 | 2,367 | 836 | 3,203 | 123 | 3,326 | ||||||||||||||
Issuance of Common Stock | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
Issuance of Common Stock | (1) | ||||||||||||||||||||
Amortization of Stock-Based Compensation Awards | 0 | 4,856 | 0 | 0 | 4,856 | 5,014 | |||||||||||||||
Amortization of Stock-Based Compensation Awards | 158 | ||||||||||||||||||||
Shares/Units Withheld for Taxes | 0 | (555) | 0 | 0 | (555) | (217) | (772) | ||||||||||||||
Distributions to Noncontrolling Interest | 0 | 0 | 0 | 0 | 0 | (5,575) | (5,575) | ||||||||||||||
Interest Rate Hedge | 0 | 0 | 0 | 2,773 | 2,773 | 0 | 2,773 | ||||||||||||||
Balance (Accounting Standards Update 2016-13 [Member]) at Mar. 31, 2020 | $ 0 | $ 0 | $ (3,298) | $ 0 | $ (3,298) | $ 0 | $ (3,298) | ||||||||||||||
Balance at Mar. 31, 2020 | 260 | 528,062 | 258,972 | (347,889) | 439,405 | 131,685 | 571,090 | ||||||||||||||
Balance at Dec. 31, 2019 | 259 | 523,762 | 259,903 | (348,725) | 435,199 | 137,196 | 572,395 | ||||||||||||||
Net Income (loss) | (18,588) | ||||||||||||||||||||
Actuarially Determined Long-Term Liability Adjustments | 7,248 | ||||||||||||||||||||
Interest Rate Hedge | (2,785) | ||||||||||||||||||||
Comprehensive Income | (14,125) | ||||||||||||||||||||
Interest Rate Hedge | 2,785 | ||||||||||||||||||||
Balance at Jun. 30, 2020 | 260 | 530,224 | 240,989 | (344,292) | 427,181 | 128,694 | 555,875 | ||||||||||||||
Balance at Mar. 31, 2020 | 260 | 528,062 | 258,972 | (347,889) | 439,405 | 131,685 | 571,090 | ||||||||||||||
Net Income (loss) | 0 | 0 | (17,983) | 0 | (17,983) | (3,080) | (21,063) | ||||||||||||||
Actuarially Determined Long-Term Liability Adjustments | 0 | 0 | 0 | 3,609 | 3,609 | 15 | 3,624 | ||||||||||||||
Interest Rate Hedge | 0 | 0 | 0 | (12) | (12) | 0 | (12) | ||||||||||||||
Comprehensive Income | 0 | 0 | (17,983) | 3,597 | (14,386) | (3,065) | (17,451) | ||||||||||||||
Amortization of Stock-Based Compensation Awards | 0 | 2,162 | 0 | 0 | 2,162 | 2,236 | |||||||||||||||
Amortization of Stock-Based Compensation Awards | 74 | ||||||||||||||||||||
Interest Rate Hedge | 0 | 0 | 0 | 12 | 12 | 0 | 12 | ||||||||||||||
Balance at Jun. 30, 2020 | $ 260 | $ 530,224 | $ 240,989 | $ (344,292) | $ 427,181 | $ 128,694 | $ 555,875 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) $ in Thousands | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |
Cumulative Change in Accounting Principle, Tax | $ 1,109 |
Actuarially Determined Long-Term Liability Adjustments, Tax | 1,214 |
Unrealized Loss on Cash Flow Hedges, Tax | $ 933 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Cash Flows from Operating Activities: | ||
Net (Loss) Income | $ (18,588) | $ 69,133 |
Adjustments to Reconcile Net (Loss) Income to Net Cash Provided by Operating Activities: | ||
Depreciation, Depletion and Amortization | 101,098 | 96,875 |
Gain on Sale of Assets | (7,315) | (1,272) |
Stock/Unit-Based Compensation | 7,250 | 10,375 |
Amortization of Debt Issuance Costs | 3,146 | 3,470 |
(Gain) Loss on Debt Extinguishment | (16,833) | 24,643 |
Deferred Income Taxes | (5,775) | (15,770) |
Equity in Earnings of Affiliates | 586 | 0 |
Changes in Operating Assets: | ||
Accounts and Notes Receivable | 42,469 | (10,757) |
Inventories | (6,910) | (2,545) |
Prepaid Expenses and Other Assets | 11,936 | 386 |
Changes in Other Assets | 2,989 | 13,365 |
Changes in Operating Liabilities: | ||
Accounts Payable | (37,669) | (6,023) |
Other Operating Liabilities | (7,004) | (1,054) |
Changes in Other Liabilities | (22,700) | (15,025) |
Net Cash Provided by Operating Activities | 46,680 | 165,801 |
Cash Flows from Investing Activities: | ||
Capital Expenditures | (46,447) | (82,954) |
Proceeds from Sales of Assets | 689 | 1,300 |
Net Cash Used in Investing Activities | (45,758) | (81,654) |
Cash Flows from Financing Activities: | ||
Proceeds from Finance Lease Obligations | 16,293 | 0 |
Payments on Finance Lease Obligations | (11,928) | (9,132) |
Repurchases of Common Stock | 0 | (9,550) |
Distributions to Noncontrolling Interest | (5,575) | (11,119) |
Shares/Units Withheld for Taxes | (772) | (4,743) |
Debt-Related Financing Fees | (9,002) | (20,169) |
Net Cash Used in Financing Activities | (48,188) | (174,714) |
Net Decrease in Cash and Cash Equivalents and Restricted Cash | (47,266) | (90,567) |
Cash and Cash Equivalents and Restricted Cash at Beginning of Period | 80,293 | 264,935 |
Cash and Cash Equivalents and Restricted Cash at End of Period | 33,027 | 174,368 |
Non-Cash Investing and Financing Activities: | ||
Finance Lease | 13,003 | 0 |
Longwall Shield Rebuild | 11,153 | 0 |
CONSOL Coal Resources L P Member | ||
Cash Flows from Financing Activities: | ||
Repurchases of Common Stock | 0 | (119) |
Term Loan A Facility [Member] | ||
Cash Flows from Financing Activities: | ||
Proceeds from Term Loan | 0 | 26,250 |
Payments on Debt | (10,000) | (3,750) |
Term Loan B Facility [Member] | ||
Cash Flows from Financing Activities: | ||
Payments on Debt | (1,375) | (123,062) |
Senior Secured Second Lien Notes due 2025 [Member] | ||
Cash Flows from Financing Activities: | ||
Payments on Debt | (25,480) | (19,320) |
Other Asset Backed Financing [Member] | ||
Cash Flows from Financing Activities: | ||
Payments on Debt | $ (349) | $ 0 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | NOTE 1—BASIS Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10 10 X. not three six June 30, 2020 not may The Consolidated Balance Sheet at December 31, 2019 not 10 10 December 31, 2019 Basis of Consolidation The Consolidated Financial Statements include the accounts of CONSOL Energy Inc. and its wholly-owned and majority-owned and/or controlled subsidiaries. The portion of these entities that is not Recent Accounting Pronouncements In March 2020, 2020 04 848 March 12, 2020 December 31, 2022. may March 12, 2020, March 12, 2020, March 12, 2020. not In January 2020, 2020 01 321 323 815 321, 323, 815, 825, December 15, 2020, not In December 2019, 2019 12 740 2019 12 1 2 3 2019 12 not December 15, 2020, not In August 2018, 2018 14 715 20 December 15, 2020, may Earnings per Share Basic earnings per share are computed by dividing net income attributable to CONSOL Energy Inc. shareholders by the weighted average shares outstanding during the reporting period. Dilutive earnings per share are computed similarly to basic earnings per share, except that the weighted average shares outstanding are increased to include additional shares from restricted stock units and performance share units, if dilutive. The number of additional shares is calculated by assuming 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. 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 anti-dilutive: For the Three Months Ended For the Six Months Ended June 30, June 30, 2020 2019 2020 2019 Anti-Dilutive Restricted Stock Units 1,516,956 168,460 1,259,588 6,860 Anti-Dilutive Performance Share Units 29,062 41,675 29,061 41,675 1,546,018 210,135 1,288,649 48,535 The computations for basic and dilutive earnings per share are as follows: For the Three Months Ended For the Six Months Ended Dollars in thousands, except per share data June 30, June 30, 2020 2019 2020 2019 Numerator: Net (Loss) Income $ (21,063 ) $ 48,830 $ (18,588 ) $ 69,133 Less: Net (Loss) Income Attributable to Noncontrolling Interest (3,080 ) 5,550 (2,972 ) 11,418 Net (Loss) Income Attributable to CONSOL Energy Inc. Shareholders $ (17,983 ) $ 43,280 $ (15,616 ) $ 57,715 Denominator: Weighted-average shares of common stock outstanding 26,031,103 27,498,021 26,009,129 27,514,349 Effect of dilutive shares* — 284,259 — 270,454 Weighted-average diluted shares of common stock outstanding 26,031,103 27,782,280 26,009,129 27,784,803 (Loss) Earnings per Share: Basic $ (0.69 ) $ 1.57 $ (0.60 ) $ 2.10 Dilutive $ (0.69 ) $ 1.56 $ (0.60 ) $ 2.08 *During periods in which the Company incurs a net loss, diluted weighted average shares outstanding are equal to basic weighted average shares outstanding because the effect of all equity awards is anti-dilutive. As of June 30, 2020 none |
Note 2 - Revenue
Note 2 - Revenue | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 2—REVENUE: The following table disaggregates CONSOL Energy's revenue from contracts with customers to depict how the nature, amount, timing and uncertainty of the Company's revenues and cash flows are affected by economic factors: Three Months Ended Six Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Coal Revenue $ 102,313 $ 350,620 $ 357,765 $ 683,123 Terminal Revenue 15,898 16,708 32,399 34,526 Freight Revenue 3,085 3,854 6,232 10,516 Total Revenue from Contracts with Customers $ 121,296 $ 371,182 $ 396,396 $ 728,165 Coal Revenue CONSOL Energy's coal revenue is generally recognized when title passes to the customer and the price is fixed and determinable. Generally, title passes when coal is loaded at the central preparation facility and, on occasion, at terminal locations or other customer destinations. The Company's coal contract revenue per ton is fixed and determinable and adjusted for nominal quality adjustments. Some coal contracts also contain positive electric power price-related adjustments, which represent market-driven price adjustments, wherein no not not The estimated transaction price from each of the Company's contracts is based on the total amount of consideration to which the Company expects to be entitled under the contract. Included in the transaction price for certain coal supply contracts is the impact of variable consideration, including quality price adjustments, handling services, per ton price fluctuations based on certain coal sales price indices and anticipated payments in lieu of shipments. The estimated transaction price for each contract is allocated to the Company's performance obligations based on relative stand-alone selling prices determined at contract inception. The Company has determined that each ton of coal represents a separate and distinct performance obligation. Some of the Company's contracts span multiple years and have annual pricing modifications, based upon market-driven or inflationary adjustments, where no While CONSOL Energy does, from time to time, experience costs of obtaining coal customer contracts with amortization periods greater than one June 30, 2020 December 31, 2019 not three six June 30, 2020 2019 not not not Terminal Revenue Terminal revenues are attributable to the Company's CONSOL Marine Terminal and include revenues earned from providing receipt and unloading of coal from rail cars, transporting coal from the receipt point to temporary storage or stockpile facilities located at the Terminal, stockpiling, blending, weighing, sampling, redelivery, and loading of coal onto vessels. Revenues for these services are generally earned on a rateable basis, and performance obligations are considered fulfilled as the services are performed. The CONSOL Marine Terminal does not one June 30, 2020 December 31, 2019 not three six June 30, 2020 2019 not not not Freight Revenue Some of CONSOL Energy's coal contracts require that the Company sell its coal at locations other than its central preparation plant. The cost to transport the Company's coal to the ultimate sales point is passed through to the Company's customers and CONSOL Energy recognizes the freight revenue equal to the transportation costs when title of the coal passes to the customer. Contract Balances Contract assets are recorded separately from trade receivables in the Company's Consolidated Balance Sheets and are reclassified to trade receivables as title passes to the customer and the Company's right to consideration becomes unconditional. Payments for coal shipments are typically due within two four not |
Note 3 - Miscellaneous Other In
Note 3 - Miscellaneous Other Income | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Interest and Other Income [Text Block] | NOTE 3—MISCELLANEOUS For the Three Months Ended June 30, For the Six Months Ended June 30, 2020 2019 2020 2019 Contract Buyout $ 30,144 $ 1,342 $ 40,969 $ 2,390 Royalty Income - Non-Operated Coal 2,893 5,677 7,397 11,887 Property Easements and Option Income 413 450 476 1,429 Rental Income 325 681 822 1,298 Interest Income 122 757 366 1,644 Purchased Coal Sales — 2,730 — 5,916 Other 39 557 76 922 Miscellaneous Other Income $ 33,936 $ 12,194 $ 50,106 $ 25,486 The increase in Contract Buyout income was primarily the result of partial contract buyouts that involved negotiations to reduce coal quantities of several customer contracts in exchange for payment of certain fees to the Company, and do not |
Note 4 - Components of Pension
Note 4 - Components of Pension and Other Post-employment Benefit (OPEB) Plans Net Periodic Benefit Costs | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | NOTE 4—COMPONENTS The components of Net Periodic Benefit (Credit) Cost are as follows: Pension Benefits Other Post-Employment Benefits Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2020 2019 2020 2019 2020 2019 2020 2019 Service Cost $ 295 $ 987 $ 591 $ 1,975 $ — $ — $ — $ — Interest Cost 5,044 6,275 10,088 12,551 3,199 4,580 6,398 9,160 Expected Return on Plan Assets (10,455 ) (10,114 ) (20,910 ) (20,229 ) — — — — Amortization of Prior Service Credits — (92 ) — (183 ) (602 ) (601 ) (1,203 ) (1,203 ) Amortization of Actuarial Loss 1,731 1,490 3,461 2,979 2,320 2,315 4,639 4,631 Net Periodic Benefit (Credit) Cost $ (3,385 ) $ (1,454 ) $ (6,770 ) $ (2,907 ) $ 4,917 $ 6,294 $ 9,834 $ 12,588 (Credits) expenses related to pension and other post-employment benefits are reflected in Operating and Other Costs in the Consolidated Statements of Income. |
Note 5 - Components of Coal Wor
Note 5 - Components of Coal Workers' Pneumoniosis (CWP) and Workers' Compensation Net Periodic Benefit Costs | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Pneumoconiosis Benefits And Workers Compensation Disclosure [Text Block] | NOTE 5—COMPONENTS The components of Net Periodic Benefit Cost are as follows: CWP Workers' Compensation Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2020 2019 2020 2019 2020 2019 2020 2019 Service Cost $ 1,151 $ 948 $ 2,302 $ 1,896 $ 1,569 $ 1,421 $ 3,138 $ 2,842 Interest Cost 1,552 1,750 3,103 3,500 461 646 922 1,293 Amortization of Actuarial Loss (Gain) 1,401 254 2,802 508 (122 ) (193 ) (244 ) (387 ) State Administrative Fees and Insurance Bond Premiums — — — — 461 574 1,082 1,161 Net Periodic Benefit Cost $ 4,104 $ 2,952 $ 8,207 $ 5,904 $ 2,369 $ 2,448 $ 4,898 $ 4,909 |
Note 6 - Income Taxes
Note 6 - Income Taxes | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 6—INCOME The Company has evaluated the impact of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), which was signed into law by the President of the United States in March 2020. 2017 The Company's year-to-date tax rate is based on its estimated full year effective tax rate. The effective tax rate for the three six June 30, 2020 21%, 30% 50% 2019 2020, three six June 30, 2020 The effective tax rate for the three six June 30, 2019 six three six June 30, 2019 21%, The Company utilizes the “more likely than not” six June 30, 2020 December 31, 2019 not The Company is subject to taxation in the United States and its various states, as well as Canada and its various provinces. Under the provisions of the tax matters agreement entered into between the Company and its former parent on November 28, 2017 ( January 1, 2016 six June 30, 2020 November 28, 2017 six June 30, 2020 |
Note 7 - Credit Losses
Note 7 - Credit Losses | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Credit Loss, Financial Instrument [Text Block] | NOTE 7—CREDIT Effective January 1, 2020, 2016 013, Financial Instruments - Credit Losses (Topic 326 not not The following table illustrates the impact of ASC 326. January 1, 2020 As Reported Under ASC 326 Pre-ASC 326 Adoption Impact of ASC 326 Adoption Trade Receivables $ 3,051 $ 2,100 $ 951 Other Receivables 3,372 711 2,661 Other Assets 795 — 795 Allowance for Credit Losses on Receivables $ 7,218 $ 2,811 $ 4,407 The Company is exposed to credit losses primarily through sales of products and services. The Company's expected loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions and a review of the current status of customers' trade and other accounts receivables. Due to the short-term nature of such receivables, the estimate of the amount of accounts receivable that may not Balances are written off when determined to be uncollectible. The Company considered the current and expected future economic and market conditions surrounding the novel coronavirus (COVID- 19 not Management estimates the allowance balance using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for changes to the assessment of anticipated payment, changes in economic conditions, current industry trends in the markets the Company serves, and changes in the financial health of the Company's counterparties. The following table provides a roll-forward of the allowance for credit losses by portfolio segment that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected. Trade Receivables Other Receivables Other Assets Beginning Balance, January 1, 2020 $ 2,100 $ 711 $ — Adoption of ASU 2016-13, cumulative-effect adjustment to retained earnings 951 2,661 795 Provision for expected credit losses 1,823 1,460 (186 ) Ending Balance, June 30, 2020 $ 4,874 $ 4,832 $ 609 |
Note 8 - Inventories
Note 8 - Inventories | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 8—INVENTORIES: Inventory components consist of the following: June 30, December 31, 2020 2019 Coal $ 6,970 $ 2,484 Supplies 54,071 51,647 Total Inventories $ 61,041 $ 54,131 Inventories are stated at the lower of cost or net realizable value. The cost of coal inventories is determined by the first first |
Note 9 - Accounts Receivable Se
Note 9 - Accounts Receivable Securitization | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Accounts Receivable Securitization [Text Block] | NOTE 9—ACCOUNTS CONSOL Energy and certain of its U.S. subsidiaries are parties to a trade accounts receivable securitization facility with financial institutions for the sale on a continuous basis of eligible trade accounts receivable. In March 2020, August 30, 2021 March 27, 2023. Pursuant to the securitization facility, CONSOL Thermal Holdings LLC sells current and future trade receivables to CONSOL Pennsylvania Coal Company LLC. CONSOL Marine Terminals LLC and CONSOL Pennsylvania Coal Company LLC sell and/or contribute current and future trade receivables (including receivables sold to CONSOL Pennsylvania Coal Company LLC by CONSOL Thermal Holdings LLC) to CONSOL Funding LLC (the “SPV”). The SPV, in turn, pledges its interests in the receivables to PNC Bank, which either makes loans or issues letters of credit on behalf of the SPV. The maximum amount of advances and letters of credit outstanding under the securitization facility may not Loans under the securitization facility accrue interest at a reserve-adjusted LIBOR market index rate equal to the one At June 30, 2020 June 30, 2020 December 31, 2019 December 31, 2019 three six June 30, 2020, three six June 30, 2019, not |
Note 10 - Property, Plant and E
Note 10 - Property, Plant and Equipment | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 10—PROPERTY, Property, plant and equipment consists of the following: June 30, December 31, 2020 2019 Plant and Equipment $ 3,072,238 $ 3,028,514 Coal Properties and Surface Lands 873,809 872,909 Airshafts 447,417 437,003 Mine Development 343,261 342,706 Advance Mining Royalties 327,217 327,048 Total Property, Plant and Equipment 5,063,942 5,008,180 Less: Accumulated Depreciation, Depletion and Amortization 2,996,331 2,916,015 Total Property, Plant and Equipment, Net $ 2,067,611 $ 2,092,165 Coal reserves are controlled either through fee ownership or by lease. The duration of the leases vary; however, the lease terms are generally extended automatically to the exhaustion of economically recoverable reserves, as long as active mining continues. Coal interests held by lease provide the same rights as fee ownership for mineral extraction and are legally considered real property interests. As of June 30, 2020 December 31, 2019 June 30, 2020 December 31, 2019 three June 30, 2020 2019 six June 30, 2020 2019 |
Note 11 - Other Accrued Liabili
Note 11 - Other Accrued Liabilities | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 11—OTHER June 30, December 31, 2020 2019 Subsidence Liability $ 90,849 $ 90,645 Accrued Payroll and Benefits 19,142 21,102 Accrued Equipment Obligations 6,550 — Accrued Interest 5,737 6,281 Other 22,340 21,034 Current Portion of Long-Term Liabilities: Postretirement Benefits Other than Pensions 30,884 31,833 Asset Retirement Obligations 22,057 21,741 Operating Lease Liability 19,790 19,479 Pneumoconiosis Benefits 12,172 12,331 Workers' Compensation 11,005 11,323 Total Other Accrued Liabilities $ 240,526 $ 235,769 |
Note 12 - Long-term Debt
Note 12 - Long-term Debt | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | NOTE 12—LONG June 30, December 31, 2020 2019 Debt: Term Loan B due in September 2024 (Principal of $ 271,563 272,938 1,062 1,187 4.68 6.30 $ 270,501 $ 271,751 11.00 178,452 221,628 MEDCO Revenue Bonds in Series due September 2025 at 5.75 102,865 102,865 Term Loan A due in March 2023 ( 5.50 5.55 78,750 88,750 Other Asset-Backed Financing Arrangements 20,092 9,289 Advance Royalty Commitments ( 10.78 1,895 1,895 Less: Unamortized Debt Issuance Costs 11,478 10,323 641,077 685,855 Less: Amounts Due in One Year* 45,717 32,053 Long-Term Debt $ 595,360 $ 653,802 * Excludes current portion of Finance Lease Obligations of $21,208 and $18,219 at June 30, 2020 December 31, 2019 In November 2017, March 28, 2019, June 5, 2020, eight March 28, 2023. September 28, 2024. June 30, 2020 first 75% 1.5 The Senior Secured Credit Facilities contain a number of customary affirmative covenants. In addition, the Senior Secured Credit Facilities contain a number of negative covenants, including (subject to certain exceptions) limitations on (among other things): indebtedness, liens, investments, acquisitions, dispositions, restricted payments, and prepayments of junior indebtedness. The amendment added additional conditions to be met for the covenants relating to investments in joint ventures, general investments, share repurchases, dividends, and repurchases of Second Lien Notes. The additional conditions require no outstanding borrowings and no not 1.00. The Revolving Credit Facility and TLA Facility also include covenants relating to (i) a maximum first first first June 30, 2020 March 31, 2021, first 1.00, 1.00, 1.00; June 30, 2021 September 30, 2021, first 1.00 1.00; June 30, 2021 March 31, 2022, 1.00; December 31, 2021 March 31, 2022, first 1.00 1.00; June 30, 2022, first 1.00, 1.00 1.00. first 1.00 June 30, 2020 1.00 June 30, 2020 1.00 June 30, 2020 June 30, 2020 19 first 2020 May 2020. twelve The TLB Facility also includes a financial covenant that requires the Company to repay a certain amount of its borrowings under the TLB Facility within ten 10 10 six June 30, 2019 December 31, 2018. 2018, 2018. no December 31, 2019 December 31, 2020. At June 30, 2020 December 31, 2019 In November 2017, 2025 November 13, 2017, November 28, 2017, second first no During the six June 30, 2020 2025. six June 30, 2019 2025 six June 30, 2019 six June 30, 2020, three six June 30, 2019, The Company is a borrower under two June 30, 2020 December 2020 September 2024. June 30, 2020 December 31, 2019 During the year ended December 31, 2019 twelve December 31, 2020 2021, twelve December 31, 2022. June 30, 2020 December 31, 2019 June 30, 2020 six June 30, 2020 six June 30, 2020 2020, June 30, 2020 12 |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingent Liabilities | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 13—COMMITMENTS The Company and its former parent entered into a separation and distribution agreement on November 28, 2017 The Company is 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. The Company accrues the estimated loss for these lawsuits and claims when the loss is probable and reasonably estimable. The Company’s 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 the Company as of June 30, 2020 June 30, 2020 not Fitzwater Litigation: April 24, 2017, October 15, 2019, April 1, 2020, August 4, 2020 July 15, 2020, Casey Litigation: August 23, 2017 two not December 1, 2017, March 1, 2018 October 15, 2019, April 1, 2020, August 4, 2020 July 15, 2020, United Mine Workers of America 1992 2013, 1992 ten 1994. 11 October 2019. 1992 “1992 9711 1992 April 30, 2020. 1992 1992 Other Matters: not As part of the separation and distribution, the Company assumed various financial obligations relating to the Coal Business and agreed to reimburse its former parent for certain financial guarantees relating to the Coal Business that its former parent retained following the separation and distribution. Employee-related financial guarantees have primarily been provided to support the United Mine Workers’ of America’s 1992 The following is a summary, as of June 30, 2020 third not No not 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: Employee-Related $ 68,346 $ 50,925 $ 17,421 $ — $ — Environmental 398 398 — — — Other 40,682 38,578 2,104 — — Total Letters of Credit 109,426 89,901 19,525 — — Surety Bonds: Employee-Related 87,424 87,424 — — — Environmental 535,155 531,461 3,694 — — Other 4,131 3,488 643 — — Total Surety Bonds 626,710 622,373 4,337 — — Guarantees: Other 12,104 6,733 4,691 398 282 Total Guarantees 12,104 6,733 4,691 398 282 Total Commitments $ 748,240 $ 719,007 $ 28,553 $ 398 $ 282 Included in the above table are commitments and guarantees entered into in conjunction with the sale of Consolidation Coal Company and certain of its subsidiaries, which contain all five of its longwall coal mines in West Virginia and its river operations, to a third third third June 30, 2020 not June 30, 2020 December 31, 2019 June 30, 2020 December 31, 2019 may No 3 The Company regularly evaluates the likelihood of default for all guarantees based on an expected loss analysis and records the fair value, if any, of its guarantees as an obligation in the consolidated financial statements. |
Note 14 - Fair Value Of Financi
Note 14 - Fair Value Of Financial instruments | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 14—FAIR CONSOL Energy 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 LIBOR-based discount rates), while unobservable inputs reflect the Company’s own assumptions of what market participants would use. The fair value hierarchy includes three may Level One - Quoted prices for identical instruments in active markets. Level Two - The fair value of the assets and liabilities included in Level 2 Level Three - Unobservable inputs significant to the fair value measurement supported by little or no third third third 3 In those cases when the inputs used to measure fair value meet the definition of more than one The financial instruments measured at fair value on a recurring basis are summarized below: Fair Value Measurements at Fair Value Measurements at June 30, 2020 December 31, 2019 Description Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Lease Guarantees $ — $ — $ (378 ) $ — $ — $ (482 ) Derivatives (1) $ — $ (3,877 ) $ — $ — $ (154 ) $ — ( 1 2 The following methods and assumptions were used to estimate the fair value for which the fair value option was not Long-term debt: The carrying amounts and fair values of financial instruments for which the fair value option was not June 30, 2020 December 31, 2019 Carrying Fair Carrying Fair Amount Value Amount Value Long-Term Debt $ 652,555 $ 452,983 $ 696,178 $ 642,018 Certain of the Company’s debt is actively traded on a public market and, as a result, constitutes Level 1 not 2 |
Note 15 - Segment Information
Note 15 - Segment Information | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 15—SEGMENT CONSOL Energy Inc. consists of one reportable segment: the Pennsylvania Mining Complex, which includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine and the Central Preparation Plant. The principal activities of the PAMC are mining, preparation and marketing of thermal coal, sold primarily to power generators. It also includes selling, general and administrative activities, as well as various other activities assigned to the PAMC. CONSOL Energy’s Other division includes revenue and expenses from various corporate and diversified business activities that are not none Industry segment results for the three June 30, 2020 PAMC Other Adjustments and Eliminations Consolidated Coal Revenue $ 102,026 $ 287 $ — $ 102,313 (A) Terminal Revenue — 15,898 — 15,898 Freight Revenue 3,085 — — 3,085 Total Revenue and Freight $ 105,111 $ 16,185 $ — $ 121,296 Loss Before Income Tax $ (21,823 ) $ (6,923 ) $ — $ (28,746 ) Segment Assets $ 1,889,557 $ 676,575 $ — $ 2,566,132 Depreciation, Depletion and Amortization $ 46,793 $ (638 ) $ — $ 46,155 Capital Expenditures $ 16,262 $ 3,007 $ — $ 19,269 Industry segment results for the three June 30, 2019 PAMC Other Adjustments and Eliminations Consolidated Coal Revenue $ 350,620 $ — $ — $ 350,620 (A) Terminal Revenue — 16,708 — 16,708 Freight Revenue 3,854 — — 3,854 Total Revenue and Freight $ 354,474 $ 16,708 $ — $ 371,182 Earnings (Loss) Before Income Tax $ 60,786 $ (13,764 ) $ — $ 47,022 Segment Assets $ 1,973,627 $ 791,844 $ — $ 2,765,471 Depreciation, Depletion and Amortization $ 45,427 $ 724 $ — $ 46,151 Capital Expenditures $ 39,813 $ 8,970 $ — $ 48,783 Industry segment results for the six June 30, 2020 PAMC Other Adjustments and Eliminations Consolidated Coal Revenue $ 357,478 $ 287 $ — $ 357,765 (A) Terminal Revenue — 32,399 — 32,399 Freight Revenue 6,232 — — 6,232 Total Revenue and Freight $ 363,710 $ 32,686 $ — $ 396,396 Loss Before Income Tax $ (10,949 ) $ (13,414 ) $ — $ (24,363 ) Segment Assets $ 1,889,557 $ 676,575 $ — $ 2,566,132 Depreciation, Depletion and Amortization $ 95,210 $ 5,888 $ — $ 101,098 Capital Expenditures $ 36,954 $ 9,493 $ — $ 46,447 Industry segment results for the six June 30, 2019 PAMC Other Adjustments and Eliminations Consolidated Coal Revenue $ 683,123 $ — $ — $ 683,123 (A) Terminal Revenue — 34,526 — 34,526 Freight Revenue 10,516 — — 10,516 Total Revenue and Freight $ 693,639 $ 34,526 $ — $ 728,165 Earnings (Loss) Before Income Tax $ 125,484 $ (59,009 ) $ — $ 66,475 Segment Assets $ 1,973,627 $ 791,844 $ — $ 2,765,471 Depreciation, Depletion and Amortization $ 90,295 $ 6,580 $ — $ 96,875 Capital Expenditures $ 72,185 $ 10,769 $ — $ 82,954 (A) For the three six June 30, 2020 2019 10% Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Customer B $ 30,032 $ 139,811 $ 134,386 $ 262,930 Customer C $ 14,060 $ 53,511 $ 49,743 $ 95,377 Customer A * $ 68,370 $ 48,829 $ 130,241 * Revenues from this customer during the three June 30, 2020 10% Reconciliation of Segment Information to Consolidated Amounts: Total Assets: June 30, 2020 2019 Segment Assets for Total Reportable Business Segments $ 1,889,557 $ 1,973,627 Segment Assets for All Other Business Segments 521,843 516,108 Items Excluded from Segment Assets: Cash and Other Investments 45,834 183,899 Deferred Tax Assets 108,898 91,837 Total Consolidated Assets $ 2,566,132 $ 2,765,471 |
Note 16 - Additional Informatio
Note 16 - Additional Information With Respect to Unrestricted Subsidiaries | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | NOTE 16—ADDITIONAL Under the terms of the Indenture and Senior Secured Credit Facilities, CONSOL Energy has designated certain of its subsidiaries as “Unrestricted Subsidiaries”. The current Unrestricted Subsidiaries are the Partnership and its subsidiaries and the SPV. CONSOL Energy is required under the terms of the Indenture and the Senior Secured Credit Facilities to present additional information that reflects the financial condition and results of operations of the Company and its Restricted Subsidiaries separate from the financial condition and results of operations of the Company's Unrestricted Subsidiaries for the periods presented. This additional information is below. Income Statement for the Three Months Ended June 30, 2020 Company and Restricted Unrestricted Subsidiaries Subsidiaries Consolidated Revenue and Other Income: Coal Revenue $ 76,806 $ 25,507 $ 102,313 Terminal Revenue 15,898 — 15,898 Freight Revenue 2,314 771 3,085 Miscellaneous Other Income 16,802 17,134 33,936 Gain on Sale of Assets 7,329 — 7,329 Total Revenue and Other Income 119,149 43,412 162,561 Costs and Expenses: Operating and Other Costs 91,325 25,081 116,406 Depreciation, Depletion and Amortization 34,635 11,520 46,155 Freight Expense 2,314 771 3,085 Selling, General and Administrative Costs 8,579 2,360 10,939 Interest Expense, net 12,468 2,254 14,722 Total Costs and Expenses 149,321 41,986 191,307 (Loss) Earnings Before Income Tax (30,172 ) 1,426 (28,746 ) Income Tax Benefit (7,683 ) — (7,683 ) Net (Loss) Income (22,489 ) 1,426 (21,063 ) Less: Net Loss Attributable to Noncontrolling Interest (3,080 ) — (3,080 ) Net (Loss) Income Attributable to CONSOL Energy Inc. Shareholders $ (19,409 ) $ 1,426 $ (17,983 ) Balance Sheet at June 30, 2020 (unaudited): Company and Restricted Unrestricted Subsidiaries Subsidiaries Consolidated ASSETS Current Assets: Cash and Cash Equivalents $ 32,893 $ 134 $ 33,027 Accounts and Notes Receivable Trade Receivables, net — 99,993 99,993 Other Receivables, net 27,089 747 27,836 Inventories 46,919 14,122 61,041 Prepaid Expenses and Other Assets 18,322 2,761 21,083 Total Current Assets 125,223 117,757 242,980 Property, Plant and Equipment: Property, Plant and Equipment 4,062,898 1,001,044 5,063,942 Less-Accumulated Depreciation, Depletion and Amortization 2,402,098 594,233 2,996,331 Total Property, Plant and Equipment - Net 1,660,800 406,811 2,067,611 Other Assets: Deferred Income Taxes 108,898 — 108,898 Right of Use Asset - Operating Leases 49,574 13,335 62,909 Other, net 70,488 13,246 83,734 Total Other Assets 228,960 26,581 255,541 TOTAL ASSETS $ 2,014,983 $ 551,149 $ 2,566,132 LIABILITIES AND EQUITY Current Liabilities: Accounts Payable $ 48,223 $ 18,229 $ 66,452 Accounts (Recoverable) Payable - Related Parties (4,731 ) 4,731 — Current Portion of Long-Term Debt 58,162 8,763 66,925 Other Accrued Liabilities 203,744 36,782 240,526 Total Current Liabilities 305,398 68,505 373,903 Long-Term Debt: Long-Term Debt, Related Party (158,169 ) 158,169 — Long-Term Debt 595,360 — 595,360 Finance Lease Obligations 17,874 5,666 23,540 Total Long-Term Debt 455,065 163,835 618,900 Deferred Credits and Other Liabilities: Postretirement Benefits Other Than Pensions 425,493 — 425,493 Pneumoconiosis Benefits 194,666 6,508 201,174 Asset Retirement Obligations 217,618 11,030 228,648 Workers' Compensation 57,378 3,811 61,189 Salary Retirement 38,947 — 38,947 Operating Lease Liability 36,377 9,102 45,479 Other 15,668 856 16,524 Total Deferred Credits and Other Liabilities 986,147 31,307 1,017,454 TOTAL LIABILITIES 1,746,610 263,647 2,010,257 Total CONSOL Energy Inc. Stockholders’ Equity 139,679 287,502 427,181 Noncontrolling Interest 128,694 — 128,694 TOTAL LIABILITIES AND EQUITY $ 2,014,983 $ 551,149 $ 2,566,132 Income Statement for the Three Months Ended June 30, 2019 Company and Restricted Unrestricted Subsidiaries Subsidiaries Consolidated Revenue and Other Income: Coal Revenue $ 262,965 $ 87,655 $ 350,620 Terminal Revenue 16,708 — 16,708 Freight Revenue 2,890 964 3,854 Miscellaneous Other Income (7,844 ) 20,038 12,194 Gain (Loss) on Sale of Assets 943 (10 ) 933 Total Revenue and Other Income 275,662 108,647 384,309 Costs and Expenses: Operating and Other Costs 194,580 58,868 253,448 Depreciation, Depletion and Amortization 34,815 11,336 46,151 Freight Expense 2,890 964 3,854 Selling, General and Administrative Costs 13,335 2,953 16,288 Loss on Debt Extinguishment 1,500 — 1,500 Interest Expense, net 14,489 1,557 16,046 Total Costs and Expenses 261,609 75,678 337,287 Earnings Before Income Tax 14,053 32,969 47,022 Income Tax Benefit (1,808 ) — (1,808 ) Net Income 15,861 32,969 48,830 Less: Net Income Attributable to Noncontrolling Interest 5,550 — 5,550 Net Income Attributable to CONSOL Energy Inc. Shareholders $ 10,311 $ 32,969 $ 43,280 Balance Sheet at December 31, 2019: Company and Restricted Unrestricted Subsidiaries Subsidiaries Consolidated ASSETS Current Assets: Cash and Cash Equivalents $ 79,717 $ 576 $ 80,293 Accounts and Notes Receivable Trade Receivables, net — 131,688 131,688 Other Receivables, net 39,412 1,572 40,984 Inventories 41,478 12,653 54,131 Prepaid Expenses and Other Assets 25,181 5,752 30,933 Total Current Assets 185,788 152,241 338,029 Property, Plant and Equipment: Property, Plant and Equipment 4,023,282 984,898 5,008,180 Less-Accumulated Depreciation, Depletion and Amortization 2,344,777 571,238 2,916,015 Total Property, Plant and Equipment - Net 1,678,505 413,660 2,092,165 Other Assets: Deferred Income Taxes 103,505 — 103,505 Right of Use Asset - Operating Leases 56,937 15,695 72,632 Other, net 74,015 13,456 87,471 Total Other Assets 234,457 29,151 263,608 TOTAL ASSETS $ 2,098,750 $ 595,052 $ 2,693,802 LIABILITIES AND EQUITY Current Liabilities: Accounts Payable $ 79,140 $ 27,083 $ 106,223 Accounts (Recoverable) Payable - Related Parties (1,419 ) 1,419 — Current Portion of Long-Term Debt 45,020 5,252 50,272 Other Accrued Liabilities 196,314 39,455 235,769 Total Current Liabilities 319,055 73,209 392,264 Long-Term Debt: Long-Term Debt, Related Party (148,156 ) 148,156 — Long-Term Debt 653,802 — 653,802 Finance Lease Obligations 7,391 1,645 9,036 Total Long-Term Debt 513,037 149,801 662,838 Deferred Credits and Other Liabilities: Postretirement Benefits Other Than Pensions 432,496 — 432,496 Pneumoconiosis Benefits 196,114 6,028 202,142 Asset Retirement Obligations 239,410 10,801 250,211 Workers' Compensation 57,583 3,611 61,194 Salary Retirement 49,930 — 49,930 Operating Lease Liability 43,906 11,507 55,413 Other 14,134 785 14,919 Total Deferred Credits and Other Liabilities 1,033,573 32,732 1,066,305 TOTAL LIABILITIES 1,865,665 255,742 2,121,407 Total CONSOL Energy Inc. Stockholders’ Equity 95,889 339,310 435,199 Noncontrolling Interest 137,196 — 137,196 TOTAL LIABILITIES AND EQUITY $ 2,098,750 $ 595,052 $ 2,693,802 Income Statement for the Six Months Ended June 30, 2020 ( Company and Restricted Unrestricted Subsidiaries Subsidiaries Consolidated Revenue and Other Income: Coal Revenue $ 268,395 $ 89,370 $ 357,765 Terminal Revenue 32,399 — 32,399 Freight Revenue 4,674 1,558 6,232 Miscellaneous Other Income 20,665 29,441 50,106 Gain on Sale of Assets 7,315 — 7,315 Total Revenue and Other Income 333,448 120,369 453,817 Costs and Expenses: Operating and Other Costs 254,917 73,764 328,681 Depreciation, Depletion and Amortization 77,650 23,448 101,098 Freight Expense 4,674 1,558 6,232 Selling, General and Administrative Costs 22,203 6,406 28,609 Gain on Debt Extinguishment (16,833 ) — (16,833 ) Interest Expense, net 25,984 4,409 30,393 Total Costs and Expenses 368,595 109,585 478,180 (Loss) Earnings Before Income Tax (35,147 ) 10,784 (24,363 ) Income Tax Benefit (5,775 ) — (5,775 ) Net (Loss) Income (29,372 ) 10,784 (18,588 ) Less: Net Loss Attributable to Noncontrolling Interest (2,972 ) — (2,972 ) Net (Loss) Income Attributable to CONSOL Energy Inc. Shareholders $ (26,400 ) $ 10,784 $ (15,616 ) Income Statement for the Six Months Ended June 30, 2019 ( Company and Restricted Unrestricted Subsidiaries Subsidiaries Consolidated Revenue and Other Income: Coal Revenue $ 512,342 $ 170,781 $ 683,123 Terminal Revenue 34,526 — 34,526 Freight Revenue 7,887 2,629 10,516 Miscellaneous Other Income 4,137 21,349 25,486 Gain (Loss) on Sale of Assets 1,277 (5 ) 1,272 Total Revenue and Other Income 560,169 194,754 754,923 Costs and Expenses: Operating and Other Costs 372,184 111,377 483,561 Depreciation, Depletion and Amortization 74,322 22,553 96,875 Freight Expense 7,887 2,629 10,516 Selling, General and Administrative Costs 30,698 7,513 38,211 Loss on Debt Extinguishment 24,643 — 24,643 Interest Expense, net 31,734 2,908 34,642 Total Costs and Expenses 541,468 146,980 688,448 Earnings Before Income Tax 18,701 47,774 66,475 Income Tax Benefit (2,658 ) — (2,658 ) Net Income 21,359 47,774 69,133 Less: Net Income Attributable to Noncontrolling Interest 11,418 — 11,418 Net Income Attributable to CONSOL Energy Inc. Shareholders $ 9,941 $ 47,774 $ 57,715 |
Note 17 - Related Party Transac
Note 17 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 17—RELATED Transactions with the Company's Former Parent ( 2017 Transition Services Agreements The Company entered into a transition services agreement (“TSA”) and certain other agreements in connection with the separation and distribution agreement with its former parent to cover certain continued corporate services provided by the Company and its former parent to each other following the completion of the separation and distribution. In connection with the separation and distribution, the Company began to set up its own corporate functions, and pursuant to the TSA, the Company's former parent provided various corporate support services, including certain accounting, human resources, information technology, office and building, risk, security, tax and treasury, building security and tax services, as well as certain regulatory compliance services required during the period in which the Company remained a majority-owned subsidiary of its former parent. The TSA expired in February 2019. not three six June 30, 2019, Former Parent Receivables and Payables The Company had a receivable from its former parent of $6,791 at December 31, 2019 six June 30, 2020 CONSOL Coal Resources LP CONSOL Energy, certain of its subsidiaries and the Partnership are party to an Omnibus Agreement, dated September 30, 2016, November 28, 2017 ( On November 28, 2017, June 5, 2020 ( On June 5, 2020, eight December 28, 2024. three June 30, 2020 2019 six June 30, 2020 2019 first June 30, 2020 CCR is a party to a number of other agreements with CONSOL Energy, or its subsidiaries, that are described in detail in the section titled “Agreements with Affiliates” in Item 13 10 February 14, 2020. In August 2019, June 30, 2019, one one not Charges for services from the Company to CCR include the following: For the Three Months Ended June 30, For the Six Months Ended June 30, 2020 2019 2020 2019 Operating and Other Costs $ 856 $ 767 $ 1,709 $ 1,530 Selling, General and Administrative Costs 1,864 1,974 4,657 5,030 Total Services from CONSOL Energy $ 2,720 $ 2,741 $ 6,366 $ 6,560 Operating and Other Costs include pension service costs and insurance expenses. Selling, General and Administrative Costs include charges for incentive compensation, an annual administrative support fee and reimbursement for the provision of certain management and operating services provided by the Company. At June 30, 2020 December 31, 2019 In May 2019, 18 None three six June 30, 2020 three six June 30, 2019 |
Note 18 - Stock, Unit and Debt
Note 18 - Stock, Unit and Debt Repurchases | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 18—STOCK, In December 2017, 2025, June 30, 2019. July 2018 2025, May 2019, May 2019 $50 June 30, 2019 June 30, 2020. July 2019, May 2020, June 30, 2020 June 30, 2022. Under the terms of the program, CONSOL Energy is permitted to make repurchases in the open market, in privately negotiated transactions, accelerated repurchase programs or in structured share repurchase programs. CONSOL Energy is also authorized to enter into one 10b5 1 not During the six June 30, 2020 2019 2025, six June 30, 2020. six June 30, 2019, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10 10 X. not three six June 30, 2020 not may The Consolidated Balance Sheet at December 31, 2019 not 10 10 December 31, 2019 |
Consolidation, Policy [Policy Text Block] | Basis of Consolidation The Consolidated Financial Statements include the accounts of CONSOL Energy Inc. and its wholly-owned and majority-owned and/or controlled subsidiaries. The portion of these entities that is not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In March 2020, 2020 04 848 March 12, 2020 December 31, 2022. may March 12, 2020, March 12, 2020, March 12, 2020. not In January 2020, 2020 01 321 323 815 321, 323, 815, 825, December 15, 2020, not In December 2019, 2019 12 740 2019 12 1 2 3 2019 12 not December 15, 2020, not In August 2018, 2018 14 715 20 December 15, 2020, may |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Share Basic earnings per share are computed by dividing net income attributable to CONSOL Energy Inc. shareholders by the weighted average shares outstanding during the reporting period. Dilutive earnings per share are computed similarly to basic earnings per share, except that the weighted average shares outstanding are increased to include additional shares from restricted stock units and performance share units, if dilutive. The number of additional shares is calculated by assuming 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. 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 anti-dilutive: For the Three Months Ended For the Six Months Ended June 30, June 30, 2020 2019 2020 2019 Anti-Dilutive Restricted Stock Units 1,516,956 168,460 1,259,588 6,860 Anti-Dilutive Performance Share Units 29,062 41,675 29,061 41,675 1,546,018 210,135 1,288,649 48,535 The computations for basic and dilutive earnings per share are as follows: For the Three Months Ended For the Six Months Ended Dollars in thousands, except per share data June 30, June 30, 2020 2019 2020 2019 Numerator: Net (Loss) Income $ (21,063 ) $ 48,830 $ (18,588 ) $ 69,133 Less: Net (Loss) Income Attributable to Noncontrolling Interest (3,080 ) 5,550 (2,972 ) 11,418 Net (Loss) Income Attributable to CONSOL Energy Inc. Shareholders $ (17,983 ) $ 43,280 $ (15,616 ) $ 57,715 Denominator: Weighted-average shares of common stock outstanding 26,031,103 27,498,021 26,009,129 27,514,349 Effect of dilutive shares* — 284,259 — 270,454 Weighted-average diluted shares of common stock outstanding 26,031,103 27,782,280 26,009,129 27,784,803 (Loss) Earnings per Share: Basic $ (0.69 ) $ 1.57 $ (0.60 ) $ 2.10 Dilutive $ (0.69 ) $ 1.56 $ (0.60 ) $ 2.08 *During periods in which the Company incurs a net loss, diluted weighted average shares outstanding are equal to basic weighted average shares outstanding because the effect of all equity awards is anti-dilutive. As of June 30, 2020 none |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | For the Three Months Ended For the Six Months Ended June 30, June 30, 2020 2019 2020 2019 Anti-Dilutive Restricted Stock Units 1,516,956 168,460 1,259,588 6,860 Anti-Dilutive Performance Share Units 29,062 41,675 29,061 41,675 1,546,018 210,135 1,288,649 48,535 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended For the Six Months Ended Dollars in thousands, except per share data June 30, June 30, 2020 2019 2020 2019 Numerator: Net (Loss) Income $ (21,063 ) $ 48,830 $ (18,588 ) $ 69,133 Less: Net (Loss) Income Attributable to Noncontrolling Interest (3,080 ) 5,550 (2,972 ) 11,418 Net (Loss) Income Attributable to CONSOL Energy Inc. Shareholders $ (17,983 ) $ 43,280 $ (15,616 ) $ 57,715 Denominator: Weighted-average shares of common stock outstanding 26,031,103 27,498,021 26,009,129 27,514,349 Effect of dilutive shares* — 284,259 — 270,454 Weighted-average diluted shares of common stock outstanding 26,031,103 27,782,280 26,009,129 27,784,803 (Loss) Earnings per Share: Basic $ (0.69 ) $ 1.57 $ (0.60 ) $ 2.10 Dilutive $ (0.69 ) $ 1.56 $ (0.60 ) $ 2.08 |
Note 2 - Revenue (Tables)
Note 2 - Revenue (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended Six Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Coal Revenue $ 102,313 $ 350,620 $ 357,765 $ 683,123 Terminal Revenue 15,898 16,708 32,399 34,526 Freight Revenue 3,085 3,854 6,232 10,516 Total Revenue from Contracts with Customers $ 121,296 $ 371,182 $ 396,396 $ 728,165 |
Note 3 - Miscellaneous Other _2
Note 3 - Miscellaneous Other Income (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Interest and Other Income [Table Text Block] | For the Three Months Ended June 30, For the Six Months Ended June 30, 2020 2019 2020 2019 Contract Buyout $ 30,144 $ 1,342 $ 40,969 $ 2,390 Royalty Income - Non-Operated Coal 2,893 5,677 7,397 11,887 Property Easements and Option Income 413 450 476 1,429 Rental Income 325 681 822 1,298 Interest Income 122 757 366 1,644 Purchased Coal Sales — 2,730 — 5,916 Other 39 557 76 922 Miscellaneous Other Income $ 33,936 $ 12,194 $ 50,106 $ 25,486 |
Note 4 - Components of Pensio_2
Note 4 - Components of Pension and Other Post-employment Benefit (OPEB) Plans Net Periodic Benefit Costs (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | Pension Benefits Other Post-Employment Benefits Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2020 2019 2020 2019 2020 2019 2020 2019 Service Cost $ 295 $ 987 $ 591 $ 1,975 $ — $ — $ — $ — Interest Cost 5,044 6,275 10,088 12,551 3,199 4,580 6,398 9,160 Expected Return on Plan Assets (10,455 ) (10,114 ) (20,910 ) (20,229 ) — — — — Amortization of Prior Service Credits — (92 ) — (183 ) (602 ) (601 ) (1,203 ) (1,203 ) Amortization of Actuarial Loss 1,731 1,490 3,461 2,979 2,320 2,315 4,639 4,631 Net Periodic Benefit (Credit) Cost $ (3,385 ) $ (1,454 ) $ (6,770 ) $ (2,907 ) $ 4,917 $ 6,294 $ 9,834 $ 12,588 |
Note 5 - Components of Coal W_2
Note 5 - Components of Coal Workers' Pneumoniosis (CWP) and Workers' Compensation Net Periodic Benefit Costs (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Changes in Accumulated Postemployment Benefit Obligations [Table Text Block] | CWP Workers' Compensation Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2020 2019 2020 2019 2020 2019 2020 2019 Service Cost $ 1,151 $ 948 $ 2,302 $ 1,896 $ 1,569 $ 1,421 $ 3,138 $ 2,842 Interest Cost 1,552 1,750 3,103 3,500 461 646 922 1,293 Amortization of Actuarial Loss (Gain) 1,401 254 2,802 508 (122 ) (193 ) (244 ) (387 ) State Administrative Fees and Insurance Bond Premiums — — — — 461 574 1,082 1,161 Net Periodic Benefit Cost $ 4,104 $ 2,952 $ 8,207 $ 5,904 $ 2,369 $ 2,448 $ 4,898 $ 4,909 |
Note 7 - Credit Losses (Tables)
Note 7 - Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Accounting Standards Update and Change in Accounting Principle [Table Text Block] | January 1, 2020 As Reported Under ASC 326 Pre-ASC 326 Adoption Impact of ASC 326 Adoption Trade Receivables $ 3,051 $ 2,100 $ 951 Other Receivables 3,372 711 2,661 Other Assets 795 — 795 Allowance for Credit Losses on Receivables $ 7,218 $ 2,811 $ 4,407 |
Accounts Receivable, Allowance for Credit Loss [Table Text Block] | Trade Receivables Other Receivables Other Assets Beginning Balance, January 1, 2020 $ 2,100 $ 711 $ — Adoption of ASU 2016-13, cumulative-effect adjustment to retained earnings 951 2,661 795 Provision for expected credit losses 1,823 1,460 (186 ) Ending Balance, June 30, 2020 $ 4,874 $ 4,832 $ 609 |
Note 8 - Inventories (Tables)
Note 8 - Inventories (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, December 31, 2020 2019 Coal $ 6,970 $ 2,484 Supplies 54,071 51,647 Total Inventories $ 61,041 $ 54,131 |
Note 10 - Property, Plant and_2
Note 10 - Property, Plant and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, December 31, 2020 2019 Plant and Equipment $ 3,072,238 $ 3,028,514 Coal Properties and Surface Lands 873,809 872,909 Airshafts 447,417 437,003 Mine Development 343,261 342,706 Advance Mining Royalties 327,217 327,048 Total Property, Plant and Equipment 5,063,942 5,008,180 Less: Accumulated Depreciation, Depletion and Amortization 2,996,331 2,916,015 Total Property, Plant and Equipment, Net $ 2,067,611 $ 2,092,165 |
Note 11 - Other Accrued Liabi_2
Note 11 - Other Accrued Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, December 31, 2020 2019 Subsidence Liability $ 90,849 $ 90,645 Accrued Payroll and Benefits 19,142 21,102 Accrued Equipment Obligations 6,550 — Accrued Interest 5,737 6,281 Other 22,340 21,034 Current Portion of Long-Term Liabilities: Postretirement Benefits Other than Pensions 30,884 31,833 Asset Retirement Obligations 22,057 21,741 Operating Lease Liability 19,790 19,479 Pneumoconiosis Benefits 12,172 12,331 Workers' Compensation 11,005 11,323 Total Other Accrued Liabilities $ 240,526 $ 235,769 |
Note 12 - Long-term Debt (Table
Note 12 - Long-term Debt (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | June 30, December 31, 2020 2019 Debt: Term Loan B due in September 2024 (Principal of $ 271,563 272,938 1,062 1,187 4.68 6.30 $ 270,501 $ 271,751 11.00 178,452 221,628 MEDCO Revenue Bonds in Series due September 2025 at 5.75 102,865 102,865 Term Loan A due in March 2023 ( 5.50 5.55 78,750 88,750 Other Asset-Backed Financing Arrangements 20,092 9,289 Advance Royalty Commitments ( 10.78 1,895 1,895 Less: Unamortized Debt Issuance Costs 11,478 10,323 641,077 685,855 Less: Amounts Due in One Year* 45,717 32,053 Long-Term Debt $ 595,360 $ 653,802 |
Note 13 - Commitments and Con_2
Note 13 - Commitments and Contingent Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Guarantor Obligations [Table Text Block] | 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: Employee-Related $ 68,346 $ 50,925 $ 17,421 $ — $ — Environmental 398 398 — — — Other 40,682 38,578 2,104 — — Total Letters of Credit 109,426 89,901 19,525 — — Surety Bonds: Employee-Related 87,424 87,424 — — — Environmental 535,155 531,461 3,694 — — Other 4,131 3,488 643 — — Total Surety Bonds 626,710 622,373 4,337 — — Guarantees: Other 12,104 6,733 4,691 398 282 Total Guarantees 12,104 6,733 4,691 398 282 Total Commitments $ 748,240 $ 719,007 $ 28,553 $ 398 $ 282 |
Note 14 - Fair Value Of Finan_2
Note 14 - Fair Value Of Financial instruments (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at Fair Value Measurements at June 30, 2020 December 31, 2019 Description Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Lease Guarantees $ — $ — $ (378 ) $ — $ — $ (482 ) Derivatives (1) $ — $ (3,877 ) $ — $ — $ (154 ) $ — |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block] | June 30, 2020 December 31, 2019 Carrying Fair Carrying Fair Amount Value Amount Value Long-Term Debt $ 652,555 $ 452,983 $ 696,178 $ 642,018 |
Note 15 - Segment Information (
Note 15 - Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | PAMC Other Adjustments and Eliminations Consolidated Coal Revenue $ 102,026 $ 287 $ — $ 102,313 (A) Terminal Revenue — 15,898 — 15,898 Freight Revenue 3,085 — — 3,085 Total Revenue and Freight $ 105,111 $ 16,185 $ — $ 121,296 Loss Before Income Tax $ (21,823 ) $ (6,923 ) $ — $ (28,746 ) Segment Assets $ 1,889,557 $ 676,575 $ — $ 2,566,132 Depreciation, Depletion and Amortization $ 46,793 $ (638 ) $ — $ 46,155 Capital Expenditures $ 16,262 $ 3,007 $ — $ 19,269 PAMC Other Adjustments and Eliminations Consolidated Coal Revenue $ 350,620 $ — $ — $ 350,620 (A) Terminal Revenue — 16,708 — 16,708 Freight Revenue 3,854 — — 3,854 Total Revenue and Freight $ 354,474 $ 16,708 $ — $ 371,182 Earnings (Loss) Before Income Tax $ 60,786 $ (13,764 ) $ — $ 47,022 Segment Assets $ 1,973,627 $ 791,844 $ — $ 2,765,471 Depreciation, Depletion and Amortization $ 45,427 $ 724 $ — $ 46,151 Capital Expenditures $ 39,813 $ 8,970 $ — $ 48,783 PAMC Other Adjustments and Eliminations Consolidated Coal Revenue $ 357,478 $ 287 $ — $ 357,765 (A) Terminal Revenue — 32,399 — 32,399 Freight Revenue 6,232 — — 6,232 Total Revenue and Freight $ 363,710 $ 32,686 $ — $ 396,396 Loss Before Income Tax $ (10,949 ) $ (13,414 ) $ — $ (24,363 ) Segment Assets $ 1,889,557 $ 676,575 $ — $ 2,566,132 Depreciation, Depletion and Amortization $ 95,210 $ 5,888 $ — $ 101,098 Capital Expenditures $ 36,954 $ 9,493 $ — $ 46,447 PAMC Other Adjustments and Eliminations Consolidated Coal Revenue $ 683,123 $ — $ — $ 683,123 (A) Terminal Revenue — 34,526 — 34,526 Freight Revenue 10,516 — — 10,516 Total Revenue and Freight $ 693,639 $ 34,526 $ — $ 728,165 Earnings (Loss) Before Income Tax $ 125,484 $ (59,009 ) $ — $ 66,475 Segment Assets $ 1,973,627 $ 791,844 $ — $ 2,765,471 Depreciation, Depletion and Amortization $ 90,295 $ 6,580 $ — $ 96,875 Capital Expenditures $ 72,185 $ 10,769 $ — $ 82,954 |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Customer B $ 30,032 $ 139,811 $ 134,386 $ 262,930 Customer C $ 14,060 $ 53,511 $ 49,743 $ 95,377 Customer A * $ 68,370 $ 48,829 $ 130,241 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | June 30, 2020 2019 Segment Assets for Total Reportable Business Segments $ 1,889,557 $ 1,973,627 Segment Assets for All Other Business Segments 521,843 516,108 Items Excluded from Segment Assets: Cash and Other Investments 45,834 183,899 Deferred Tax Assets 108,898 91,837 Total Consolidated Assets $ 2,566,132 $ 2,765,471 |
Note 16 - Additional Informat_2
Note 16 - Additional Information With Respect to Unrestricted Subsidiaries (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Condensed Income Statement [Table Text Block] | Company and Restricted Unrestricted Subsidiaries Subsidiaries Consolidated Revenue and Other Income: Coal Revenue $ 76,806 $ 25,507 $ 102,313 Terminal Revenue 15,898 — 15,898 Freight Revenue 2,314 771 3,085 Miscellaneous Other Income 16,802 17,134 33,936 Gain on Sale of Assets 7,329 — 7,329 Total Revenue and Other Income 119,149 43,412 162,561 Costs and Expenses: Operating and Other Costs 91,325 25,081 116,406 Depreciation, Depletion and Amortization 34,635 11,520 46,155 Freight Expense 2,314 771 3,085 Selling, General and Administrative Costs 8,579 2,360 10,939 Interest Expense, net 12,468 2,254 14,722 Total Costs and Expenses 149,321 41,986 191,307 (Loss) Earnings Before Income Tax (30,172 ) 1,426 (28,746 ) Income Tax Benefit (7,683 ) — (7,683 ) Net (Loss) Income (22,489 ) 1,426 (21,063 ) Less: Net Loss Attributable to Noncontrolling Interest (3,080 ) — (3,080 ) Net (Loss) Income Attributable to CONSOL Energy Inc. Shareholders $ (19,409 ) $ 1,426 $ (17,983 ) Company and Restricted Unrestricted Subsidiaries Subsidiaries Consolidated Revenue and Other Income: Coal Revenue $ 262,965 $ 87,655 $ 350,620 Terminal Revenue 16,708 — 16,708 Freight Revenue 2,890 964 3,854 Miscellaneous Other Income (7,844 ) 20,038 12,194 Gain (Loss) on Sale of Assets 943 (10 ) 933 Total Revenue and Other Income 275,662 108,647 384,309 Costs and Expenses: Operating and Other Costs 194,580 58,868 253,448 Depreciation, Depletion and Amortization 34,815 11,336 46,151 Freight Expense 2,890 964 3,854 Selling, General and Administrative Costs 13,335 2,953 16,288 Loss on Debt Extinguishment 1,500 — 1,500 Interest Expense, net 14,489 1,557 16,046 Total Costs and Expenses 261,609 75,678 337,287 Earnings Before Income Tax 14,053 32,969 47,022 Income Tax Benefit (1,808 ) — (1,808 ) Net Income 15,861 32,969 48,830 Less: Net Income Attributable to Noncontrolling Interest 5,550 — 5,550 Net Income Attributable to CONSOL Energy Inc. Shareholders $ 10,311 $ 32,969 $ 43,280 Company and Restricted Unrestricted Subsidiaries Subsidiaries Consolidated Revenue and Other Income: Coal Revenue $ 268,395 $ 89,370 $ 357,765 Terminal Revenue 32,399 — 32,399 Freight Revenue 4,674 1,558 6,232 Miscellaneous Other Income 20,665 29,441 50,106 Gain on Sale of Assets 7,315 — 7,315 Total Revenue and Other Income 333,448 120,369 453,817 Costs and Expenses: Operating and Other Costs 254,917 73,764 328,681 Depreciation, Depletion and Amortization 77,650 23,448 101,098 Freight Expense 4,674 1,558 6,232 Selling, General and Administrative Costs 22,203 6,406 28,609 Gain on Debt Extinguishment (16,833 ) — (16,833 ) Interest Expense, net 25,984 4,409 30,393 Total Costs and Expenses 368,595 109,585 478,180 (Loss) Earnings Before Income Tax (35,147 ) 10,784 (24,363 ) Income Tax Benefit (5,775 ) — (5,775 ) Net (Loss) Income (29,372 ) 10,784 (18,588 ) Less: Net Loss Attributable to Noncontrolling Interest (2,972 ) — (2,972 ) Net (Loss) Income Attributable to CONSOL Energy Inc. Shareholders $ (26,400 ) $ 10,784 $ (15,616 ) Company and Restricted Unrestricted Subsidiaries Subsidiaries Consolidated Revenue and Other Income: Coal Revenue $ 512,342 $ 170,781 $ 683,123 Terminal Revenue 34,526 — 34,526 Freight Revenue 7,887 2,629 10,516 Miscellaneous Other Income 4,137 21,349 25,486 Gain (Loss) on Sale of Assets 1,277 (5 ) 1,272 Total Revenue and Other Income 560,169 194,754 754,923 Costs and Expenses: Operating and Other Costs 372,184 111,377 483,561 Depreciation, Depletion and Amortization 74,322 22,553 96,875 Freight Expense 7,887 2,629 10,516 Selling, General and Administrative Costs 30,698 7,513 38,211 Loss on Debt Extinguishment 24,643 — 24,643 Interest Expense, net 31,734 2,908 34,642 Total Costs and Expenses 541,468 146,980 688,448 Earnings Before Income Tax 18,701 47,774 66,475 Income Tax Benefit (2,658 ) — (2,658 ) Net Income 21,359 47,774 69,133 Less: Net Income Attributable to Noncontrolling Interest 11,418 — 11,418 Net Income Attributable to CONSOL Energy Inc. Shareholders $ 9,941 $ 47,774 $ 57,715 |
Condensed Balance Sheet [Table Text Block] | Balance Sheet at June 30, 2020 (unaudited): Company and Restricted Unrestricted Subsidiaries Subsidiaries Consolidated ASSETS Current Assets: Cash and Cash Equivalents $ 32,893 $ 134 $ 33,027 Accounts and Notes Receivable Trade Receivables, net — 99,993 99,993 Other Receivables, net 27,089 747 27,836 Inventories 46,919 14,122 61,041 Prepaid Expenses and Other Assets 18,322 2,761 21,083 Total Current Assets 125,223 117,757 242,980 Property, Plant and Equipment: Property, Plant and Equipment 4,062,898 1,001,044 5,063,942 Less-Accumulated Depreciation, Depletion and Amortization 2,402,098 594,233 2,996,331 Total Property, Plant and Equipment - Net 1,660,800 406,811 2,067,611 Other Assets: Deferred Income Taxes 108,898 — 108,898 Right of Use Asset - Operating Leases 49,574 13,335 62,909 Other, net 70,488 13,246 83,734 Total Other Assets 228,960 26,581 255,541 TOTAL ASSETS $ 2,014,983 $ 551,149 $ 2,566,132 LIABILITIES AND EQUITY Current Liabilities: Accounts Payable $ 48,223 $ 18,229 $ 66,452 Accounts (Recoverable) Payable - Related Parties (4,731 ) 4,731 — Current Portion of Long-Term Debt 58,162 8,763 66,925 Other Accrued Liabilities 203,744 36,782 240,526 Total Current Liabilities 305,398 68,505 373,903 Long-Term Debt: Long-Term Debt, Related Party (158,169 ) 158,169 — Long-Term Debt 595,360 — 595,360 Finance Lease Obligations 17,874 5,666 23,540 Total Long-Term Debt 455,065 163,835 618,900 Deferred Credits and Other Liabilities: Postretirement Benefits Other Than Pensions 425,493 — 425,493 Pneumoconiosis Benefits 194,666 6,508 201,174 Asset Retirement Obligations 217,618 11,030 228,648 Workers' Compensation 57,378 3,811 61,189 Salary Retirement 38,947 — 38,947 Operating Lease Liability 36,377 9,102 45,479 Other 15,668 856 16,524 Total Deferred Credits and Other Liabilities 986,147 31,307 1,017,454 TOTAL LIABILITIES 1,746,610 263,647 2,010,257 Total CONSOL Energy Inc. Stockholders’ Equity 139,679 287,502 427,181 Noncontrolling Interest 128,694 — 128,694 TOTAL LIABILITIES AND EQUITY $ 2,014,983 $ 551,149 $ 2,566,132 Balance Sheet at December 31, 2019: Company and Restricted Unrestricted Subsidiaries Subsidiaries Consolidated ASSETS Current Assets: Cash and Cash Equivalents $ 79,717 $ 576 $ 80,293 Accounts and Notes Receivable Trade Receivables, net — 131,688 131,688 Other Receivables, net 39,412 1,572 40,984 Inventories 41,478 12,653 54,131 Prepaid Expenses and Other Assets 25,181 5,752 30,933 Total Current Assets 185,788 152,241 338,029 Property, Plant and Equipment: Property, Plant and Equipment 4,023,282 984,898 5,008,180 Less-Accumulated Depreciation, Depletion and Amortization 2,344,777 571,238 2,916,015 Total Property, Plant and Equipment - Net 1,678,505 413,660 2,092,165 Other Assets: Deferred Income Taxes 103,505 — 103,505 Right of Use Asset - Operating Leases 56,937 15,695 72,632 Other, net 74,015 13,456 87,471 Total Other Assets 234,457 29,151 263,608 TOTAL ASSETS $ 2,098,750 $ 595,052 $ 2,693,802 LIABILITIES AND EQUITY Current Liabilities: Accounts Payable $ 79,140 $ 27,083 $ 106,223 Accounts (Recoverable) Payable - Related Parties (1,419 ) 1,419 — Current Portion of Long-Term Debt 45,020 5,252 50,272 Other Accrued Liabilities 196,314 39,455 235,769 Total Current Liabilities 319,055 73,209 392,264 Long-Term Debt: Long-Term Debt, Related Party (148,156 ) 148,156 — Long-Term Debt 653,802 — 653,802 Finance Lease Obligations 7,391 1,645 9,036 Total Long-Term Debt 513,037 149,801 662,838 Deferred Credits and Other Liabilities: Postretirement Benefits Other Than Pensions 432,496 — 432,496 Pneumoconiosis Benefits 196,114 6,028 202,142 Asset Retirement Obligations 239,410 10,801 250,211 Workers' Compensation 57,583 3,611 61,194 Salary Retirement 49,930 — 49,930 Operating Lease Liability 43,906 11,507 55,413 Other 14,134 785 14,919 Total Deferred Credits and Other Liabilities 1,033,573 32,732 1,066,305 TOTAL LIABILITIES 1,865,665 255,742 2,121,407 Total CONSOL Energy Inc. Stockholders’ Equity 95,889 339,310 435,199 Noncontrolling Interest 137,196 — 137,196 TOTAL LIABILITIES AND EQUITY $ 2,098,750 $ 595,052 $ 2,693,802 |
Note 17 - Related Party Trans_2
Note 17 - Related Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | For the Three Months Ended June 30, For the Six Months Ended June 30, 2020 2019 2020 2019 Operating and Other Costs $ 856 $ 767 $ 1,709 $ 1,530 Selling, General and Administrative Costs 1,864 1,974 4,657 5,030 Total Services from CONSOL Energy $ 2,720 $ 2,741 $ 6,366 $ 6,560 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation (Details Textual) | Jun. 30, 2020shares |
Preferred Stock, Shares Authorized (in shares) | 500,000 |
Preferred Stock, Shares Issued, Total (in shares) | 0 |
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 |
Note 1 - Basis of Presentatio_3
Note 1 - Basis of Presentation - Schedule of Antidilutive Securities (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Antidilutive securities excluded from calculation of earnings per share (in shares) | 1,546,018 | 210,135 | 1,288,649 | 48,535 |
Restricted Stock Units (RSUs) [Member] | ||||
Antidilutive securities excluded from calculation of earnings per share (in shares) | 1,516,956 | 168,460 | 1,259,588 | 6,860 |
Performance Shares [Member] | ||||
Antidilutive securities excluded from calculation of earnings per share (in shares) | 29,062 | 41,675 | 29,061 | 41,675 |
Note 1 - Basis of Presentatio_4
Note 1 - Basis of Presentation - Schedule of Basic and Dilutive Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net Income (loss) | $ (21,063) | $ 2,475 | $ 48,830 | $ 20,303 | $ (18,588) | $ 69,133 |
Less: Net (Loss) Income Attributable to Noncontrolling Interest | (3,080) | 5,550 | (2,972) | 11,418 | ||
Net (Loss) Income Attributable to CONSOL Energy Inc. Shareholders | $ (17,983) | $ 43,280 | $ (15,616) | $ 57,715 | ||
Weighted-average shares of common stock outstanding (in shares) | 26,031,103 | 27,498,021 | 26,009,129 | 27,514,349 | ||
Effect of dilutive shares* (in shares) | 0 | 284,259 | 0 | 270,454 | ||
Weighted-average diluted shares of common stock outstanding (in shares) | 26,031,103 | 27,782,280 | 26,009,129 | 27,784,803 | ||
Basic (in dollars per share) | $ (0.69) | $ 1.57 | $ (0.60) | $ 2.10 | ||
Dilutive (in dollars per share) | $ (0.69) | $ 1.56 | $ (0.60) | $ 2.08 |
Note 2 - Revenue (Details Textu
Note 2 - Revenue (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Capitalized Contract Cost, Net, Total | $ 0 | $ 0 | $ 0 | ||
Capitalized Contract Cost, Amortization | $ 0 | $ 0 | 0 | $ 0 | |
Contract with Customer, Liability, Revenue Recognized | $ 0 |
Note 2 - Revenue - Revenue (Det
Note 2 - Revenue - Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | ||
Total Revenue from Contracts with Customers | $ 121,296 | $ 371,182 | $ 396,396 | $ 728,165 | |
Coal Revenue [Member] | |||||
Total Revenue from Contracts with Customers | [1] | 102,313 | 350,620 | 357,765 | 683,123 |
Terminal Revenue [Member] | |||||
Total Revenue from Contracts with Customers | 15,898 | 16,708 | 32,399 | 34,526 | |
Freight Revenue [Member] | |||||
Total Revenue from Contracts with Customers | $ 3,085 | $ 3,854 | $ 6,232 | $ 10,516 | |
[1] | For the three and six months ended June 30, 2020 and 2019, the PAMC segment had revenues from the following customers, each comprising over 10% of the Company’s total sales |
Note 3 - Miscellaneous Other _3
Note 3 - Miscellaneous Other Income - Miscellaneous Other Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Contract Buyout | $ 30,144 | $ 1,342 | $ 40,969 | $ 2,390 |
Royalty Income - Non-Operated Coal | 2,893 | 5,677 | 7,397 | 11,887 |
Property Easements and Option Income | 413 | 450 | 476 | 1,429 |
Rental Income | 325 | 681 | 822 | 1,298 |
Interest Income | 122 | 757 | 366 | 1,644 |
Purchased Coal Sales | 0 | 2,730 | 0 | 5,916 |
Other | 39 | 557 | 76 | 922 |
Miscellaneous Other Income | $ 33,936 | $ 12,194 | $ 50,106 | $ 25,486 |
Note 4 - Components of Pensio_3
Note 4 - Components of Pension and Other Post-employment Benefit (OPEB) Plans Net Periodic Benefit Costs - Components of Net Periodic Benefit (Credit) Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Pension Plan [Member] | ||||
Service Cost | $ 295 | $ 987 | $ 591 | $ 1,975 |
Interest Cost | 5,044 | 6,275 | 10,088 | 12,551 |
Expected Return on Plan Assets | (10,455) | (10,114) | (20,910) | (20,229) |
Amortization of Prior Service Credits | 0 | (92) | 0 | (183) |
Amortization of Actuarial Loss | 1,731 | 1,490 | 3,461 | 2,979 |
Net Periodic Benefit (Credit) Cost | (3,385) | (1,454) | (6,770) | (2,907) |
Other Postretirement Benefits Plan [Member] | ||||
Service Cost | 0 | 0 | 0 | 0 |
Interest Cost | 3,199 | 4,580 | 6,398 | 9,160 |
Expected Return on Plan Assets | 0 | 0 | 0 | 0 |
Amortization of Prior Service Credits | (602) | (601) | (1,203) | (1,203) |
Amortization of Actuarial Loss | 2,320 | 2,315 | 4,639 | 4,631 |
Net Periodic Benefit (Credit) Cost | $ 4,917 | $ 6,294 | $ 9,834 | $ 12,588 |
Note 5 - Components of Coal W_3
Note 5 - Components of Coal Worker's Pneumoniosis (CWP) and Workers' Compensation Net Periodic Benefit Costs - Components of Net Period Benefit Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Coal Workers Pneumoconiosis [Member] | ||||
Service Cost | $ 1,151 | $ 948 | $ 2,302 | $ 1,896 |
Interest Cost | 1,552 | 1,750 | 3,103 | 3,500 |
Amortization of Actuarial Loss | 1,401 | 254 | 2,802 | 508 |
State Administrative Fees and Insurance Bond Premiums | 0 | 0 | 0 | 0 |
Net Periodic Benefit (Credit) Cost | 4,104 | 2,952 | 8,207 | 5,904 |
Workers Compensation [Member] | ||||
Service Cost | 1,569 | 1,421 | 3,138 | 2,842 |
Interest Cost | 461 | 646 | 922 | 1,293 |
Amortization of Actuarial Loss | (122) | (193) | (244) | (387) |
State Administrative Fees and Insurance Bond Premiums | 461 | 574 | 1,082 | 1,161 |
Net Periodic Benefit (Credit) Cost | $ 2,369 | $ 2,448 | $ 4,898 | $ 4,909 |
Note 6 - Income Taxes (Details
Note 6 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 29.90% | 3.90% | 27.00% | 4.00% |
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Percent, Total | 37.90% | 36.50% | (3.40%) | |
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Amount | $ 902 | |||
Effective Income Tax Rate Reconciliation, CARES Act, Amount | $ 1,139 | |||
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Percent | (0.60%) |
Note 7 - Credit Losses (Details
Note 7 - Credit Losses (Details Textual) - USD ($) $ in Thousands | Jan. 01, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance | $ 555,875 | $ 571,090 | $ 572,395 | $ 610,243 | $ 571,522 | $ 551,611 | |
Retained Earnings [Member] | |||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance | $ 240,989 | $ 258,972 | $ 259,903 | $ 237,369 | $ 196,583 | $ 182,148 | |
Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance | $ 3,298 | ||||||
Income Tax Effects Allocated Directly to Equity, Cumulative Effect of Change in Accounting Principle | $ 1,109 |
Note 7 - Credit Losses - Impact
Note 7 - Credit Losses - Impact of ASC 326 (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 |
Allowance for Credit Losses on Receivables | $ 609 | $ 2,811 | $ 0 |
Trade Accounts Receivable [Member] | |||
Allowance for Credit Losses on Receivables | 4,874 | 2,100 | 2,100 |
Other Receivables [Member] | |||
Allowance for Credit Losses on Receivables | $ 4,832 | 711 | $ 711 |
Other Assets [Member] | |||
Allowance for Credit Losses on Receivables | 0 | ||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | |||
Allowance for Credit Losses on Receivables | 7,218 | ||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Trade Accounts Receivable [Member] | |||
Allowance for Credit Losses on Receivables | 3,051 | ||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Other Receivables [Member] | |||
Allowance for Credit Losses on Receivables | 3,372 | ||
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Other Assets [Member] | |||
Allowance for Credit Losses on Receivables | 795 | ||
Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Allowance for Credit Losses on Receivables | 4,407 | ||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Trade Accounts Receivable [Member] | |||
Allowance for Credit Losses on Receivables | 951 | ||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Other Receivables [Member] | |||
Allowance for Credit Losses on Receivables | 2,661 | ||
Cumulative Effect, Period of Adoption, Adjustment [Member] | Other Assets [Member] | |||
Allowance for Credit Losses on Receivables | $ 795 |
Note 7 - Credit Losses - Impa_2
Note 7 - Credit Losses - Impact of ASC 326 - Allowance for Credit Losses by Portfolio (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Beginning Balance | $ 0 |
Provision for expected credit losses | (186) |
Beginning Balance | 609 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |
Beginning Balance | 795 |
Trade Accounts Receivable [Member] | |
Beginning Balance | 2,100 |
Provision for expected credit losses | 1,823 |
Beginning Balance | 4,874 |
Trade Accounts Receivable [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |
Beginning Balance | 951 |
Other Receivables [Member] | |
Beginning Balance | 711 |
Provision for expected credit losses | 1,460 |
Beginning Balance | 4,832 |
Other Receivables [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | |
Beginning Balance | $ 2,661 |
Note 8 - Inventories - Inventor
Note 8 - Inventories - Inventories (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Coal | $ 6,970 | $ 2,484 |
Supplies | 54,071 | 51,647 |
Total Inventories | $ 61,041 | $ 54,131 |
Note 9 - Accounts Receivable _2
Note 9 - Accounts Receivable Securitization (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Payments of Financing Costs, Total | $ 9,002 | $ 20,169 | |||
Line of Credit [Member] | Accounts Receivable Securitization Facility [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 100,000 | $ 100,000 | |||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.60% | ||||
Accounts Receivable Eligible for Securitization | 22,923 | $ 22,923 | $ 41,282 | ||
Line of Credit Facility, Fair Value of Amount Outstanding | 0 | 0 | 0 | ||
Letters of Credit Outstanding, Amount | 21,772 | 21,772 | 41,211 | ||
Line of Credit Facility, Remaining Borrowing Capacity | 1,151 | 1,151 | $ 71 | ||
Payments of Financing Costs, Total | $ 292 | $ 370 | $ 633 | $ 751 | |
Line of Credit [Member] | Accounts Receivable Securitization Facility [Member] | Minimum [Member] | |||||
Line of Credit Facility, Commitment Fee Percentage | 2.00% | ||||
Line of Credit [Member] | Accounts Receivable Securitization Facility [Member] | Maximum [Member] | |||||
Line of Credit Facility, Commitment Fee Percentage | 2.50% |
Note 10 - Property, Plant and_3
Note 10 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Finance Lease, Right-of-Use Asset, before Accumulated Amortization | $ 81,571 | $ 81,571 | $ 52,729 | ||
Finance Lease, Right-of-Use Asset, Accumulated Amortization | 43,375 | 43,375 | $ 31,373 | ||
Finance Lease, Right-of-Use Asset, Amortization | $ 5,538 | $ 3,920 | $ 10,502 | $ 7,834 |
Note 10 - Property, Plant and_4
Note 10 - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Total Property, Plant and Equipment | $ 5,063,942 | $ 5,008,180 |
Less: Accumulated Depreciation, Depletion and Amortization | 2,996,331 | 2,916,015 |
Total Property, Plant and Equipment, Net | 2,067,611 | 2,092,165 |
Coal and Other Plant and Equipment [Member] | ||
Total Property, Plant and Equipment | 3,072,238 | 3,028,514 |
Mining Properties and Mineral Rights [Member] | ||
Total Property, Plant and Equipment | 873,809 | 872,909 |
Airshafts [Member] | ||
Total Property, Plant and Equipment | 447,417 | 437,003 |
Mine Development [Member] | ||
Total Property, Plant and Equipment | 343,261 | 342,706 |
Coal Advance Mining Royalties [Member] | ||
Total Property, Plant and Equipment | $ 327,217 | $ 327,048 |
Note 11 - Other Accrued Liabi_3
Note 11 - Other Accrued Liabilities - Other Accrued Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Subsidence Liability | $ 90,849 | $ 90,645 |
Accrued Payroll and Benefits | 19,142 | 21,102 |
Accrued Equipment Obligations | 6,550 | 0 |
Accrued Interest | 5,737 | 6,281 |
Other | 22,340 | 21,034 |
Postretirement Benefits Other than Pensions | 30,884 | 31,833 |
Asset Retirement Obligations | 22,057 | 21,741 |
Operating Lease Liability | 19,790 | 19,479 |
Pneumoconiosis Benefits | 12,172 | 12,331 |
Workers' Compensation | 11,005 | 11,323 |
Total Other Accrued Liabilities | $ 240,526 | $ 235,769 |
Note 12 - Long-term Debt (Detai
Note 12 - Long-term Debt (Details Textual) $ in Thousands | Mar. 28, 2019USD ($) | Jun. 30, 2020USD ($) | Mar. 31, 2020USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Dec. 31, 2022USD ($) | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Jul. 31, 2018 | Dec. 31, 2017 | Nov. 30, 2017USD ($) |
Finance Lease, Liability, Current | $ 21,208 | $ 21,208 | $ 18,219 | ||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | 0 | $ (1,500) | 16,833 | $ (24,643) | |||||||||||
Derivative Liability, Current | 3,877 | 3,877 | 154 | ||||||||||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Total | (12) | $ (2,773) | (264) | (2,785) | (264) | ||||||||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax | (4) | $ (933) | $ (84) | (937) | (84) | ||||||||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 430 | ||||||||||||||
Derivative, Notional Amount | 150,000 | 150,000 | |||||||||||||
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred | 2,050 | ||||||||||||||
Revolving Credit Facility [Member] | |||||||||||||||
Long-term Line of Credit, Total | $ 0 | 0 | |||||||||||||
Loans Payable [Member] | The TLA Facility [Member] | |||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 100,000 | ||||||||||||||
Loans Payable [Member] | The TLB Facility [Member] | |||||||||||||||
Repayments of Lines of Credit | $ 110,000 | ||||||||||||||
Loans Payable [Member] | The TLB Facility [Member] | Forecast [Member] | |||||||||||||||
Long-term Debt, Percentage Bearing Fixed Interest, Amount | $ 50,000 | $ 150,000 | |||||||||||||
Loans Payable [Member] | The TLB Facility [Member] | Maximum [Member] | |||||||||||||||
Debt Instrument, Repayment, Percent of Excess Cash Flow | 75.00% | ||||||||||||||
Loans Payable [Member] | The TLB Facility [Member] | Minimum [Member] | |||||||||||||||
Debt Instrument, Repayment, Percent of Excess Cash Flow | 0.00% | ||||||||||||||
Loans Payable [Member] | Senior Secured Second Lien Notes due 2025 [Member] | |||||||||||||||
Debt Instrument, Covenant, Net Leverage Ratio, Maximum | 2 | 2 | |||||||||||||
Loans Payable [Member] | Revolving Credit Facility [Member] | |||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 300,000 | ||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||||||||||||||
Line of Credit Facility, Fair Value of Amount Outstanding | 0 | ||||||||||||||
Letters of Credit Outstanding, Amount | $ 87,654 | $ 87,654 | |||||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 312,346 | 312,346 | |||||||||||||
Loans Payable [Member] | Revolving Credit Facility [Member] | Senior Secured Second Lien Notes due 2025 [Member] | |||||||||||||||
Debt Instrument, Covenant, Maximum Additional Borrowings | 0 | ||||||||||||||
Loans Payable [Member] | Revolving Credit Facility [Member] | Senior Secured Second Lien Notes due 2025 [Member] | Maximum [Member] | |||||||||||||||
Debt Instrument, Covenant, Maximum Amount of Letters of Credit | $ 200,000 | ||||||||||||||
Line of Credit [Member] | The TLB Facility [Member] | |||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 400,000 | ||||||||||||||
Line of Credit [Member] | Revolving Credit Facility [Member] | |||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 400,000 | $ 300,000 | |||||||||||||
Letters of Credit Outstanding, Amount | 69,588 | ||||||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 330,412 | ||||||||||||||
Line of Credit [Member] | Revolving Credit Facility and TLA Facility [Member[ | |||||||||||||||
Debt Instrument, Covenant, Net Leverage Ratio, Maximum | 3.75 | 3.75 | |||||||||||||
Debt Instrument, Maximum First Lien Gross Leverage Ratio | 1.97 | 1.97 | |||||||||||||
Debt Instrument, Maximum Net Leverage Ratio | 3.19 | 3.19 | |||||||||||||
Debt Instrument, Minimum Fixed Charge Coverage Ratio | 1.15 | 1.15 | |||||||||||||
Line of Credit [Member] | Revolving Credit Facility and TLA Facility [Member[ | Forecast [Member] | |||||||||||||||
Debt Instrument, Covenant, Net Leverage Ratio, Maximum | 2.75 | 3.25 | 3.50 | ||||||||||||
Debt Instrument, Covenant, Fixed Charge Coverage Ratio, Minimum | 1.10 | 1.05 | 1 | ||||||||||||
Line of Credit [Member] | Revolving Credit Facility and TLA Facility [Member[ | Maximum [Member] | |||||||||||||||
Debt Instrument, Covenant, First Lien Gross Leverage Ratio | 2.50 | 2.50 | |||||||||||||
Line of Credit [Member] | Revolving Credit Facility and TLA Facility [Member[ | Maximum [Member] | Forecast [Member] | |||||||||||||||
Debt Instrument, Covenant, First Lien Gross Leverage Ratio | 1.75 | 2 | 2.25 | ||||||||||||
Senior Notes [Member] | Senior Secured Second Lien Notes due 2025 [Member] | |||||||||||||||
Repayments of Lines of Credit | $ 110,000 | ||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 11.00% | 11.00% | 11.00% | 11.00% | 11.00% | 11.00% | 11.00% | ||||||||
Debt Instrument, Repurchased Face Amount | $ 43,176 | $ 19,320 | $ 43,176 | $ 19,320 | |||||||||||
Gain (Loss) on Extinguishment of Debt, Total | $ 1,500 | 16,833 | $ 24,643 | ||||||||||||
Debt Instrument, Collateral Amount | $ 20,092 | $ 20,092 | |||||||||||||
Debt, Weighted Average Interest Rate | 11.00% | 11.00% | 11.00% | ||||||||||||
Secured Debt [Member] | Other Asset Backed Financing Matures in December 2020 [Member] | |||||||||||||||
Debt Instrument, Collateral Amount | $ 16,924 | $ 16,924 | |||||||||||||
Secured Debt [Member] | Other Asset Backed Financing Matures in September 2024 [Member] | |||||||||||||||
Debt Instrument, Collateral Amount | $ 3,168 | $ 3,168 | |||||||||||||
Secured Debt [Member] | Other Asset Backed Financing [Member] | |||||||||||||||
Debt, Weighted Average Interest Rate | 4.29% | 4.29% | 5.07% |
Note 12 - Long-term Debt - Long
Note 12 - Long-term Debt - Long-term Debt (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 | |
Long term debt | $ 641,077 | $ 685,855 | |
Unamortized discount | 11,478 | 10,323 | |
Less: Amounts Due in One Year* | [1] | 45,717 | 32,053 |
Long-Term Debt | 595,360 | 653,802 | |
MEDCO Revenue Bonds in Series Due September 2025 at 5.75% [Member] | |||
Long term debt | 102,865 | 102,865 | |
Term Loan A Facility [Member] | |||
Long term debt | 78,750 | 88,750 | |
Other Asset Backed Financing [Member] | |||
Long term debt | 20,092 | 9,289 | |
Advance Royalty Commitments [Member] | |||
Long term debt | 1,895 | 1,895 | |
Loans Payable [Member] | Term Loan B Facility [Member] | |||
Long term debt | 270,501 | 271,751 | |
Unamortized discount | 1,062 | 1,187 | |
Senior Notes [Member] | Senior Secured Second Lien Notes due 2025 [Member] | |||
Long term debt | $ 178,452 | $ 221,628 | |
[1] | Excludes current portion of Finance Lease Obligations of $21,208 and $18,219 at June 30, 2020 and December 31, 2019, respectively. |
Note 12 - Long-term Debt - Lo_2
Note 12 - Long-term Debt - Long-term Debt (Details) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Principal Amount | $ 652,555 | $ 696,178 |
Unamortized discount | $ 11,478 | $ 10,323 |
MEDCO Revenue Bonds in Series Due September 2025 at 5.75% [Member] | ||
Debt, Weighted Average Interest Rate | 5.75% | 5.75% |
Term Loan A Facility [Member] | ||
Debt, Weighted Average Interest Rate | 5.50% | 5.55% |
Advance Royalty Commitments [Member] | ||
Debt, Weighted Average Interest Rate | 10.78% | 10.78% |
Loans Payable [Member] | Term Loan B Facility [Member] | ||
Principal Amount | $ 271,563 | $ 272,938 |
Unamortized discount | $ 1,062 | $ 1,187 |
Debt, Weighted Average Interest Rate | 4.68% | 6.30% |
Senior Notes [Member] | Senior Secured Second Lien Notes due 2025 [Member] | ||
Debt, Weighted Average Interest Rate | 11.00% | 11.00% |
Note 13 - Commitments and Con_3
Note 13 - Commitments and Contingent Liabilities (Details Textual) $ in Thousands | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Number of Mines Sold | 5 | |
Guarantees, Maximum Exposure | $ 18,000 | $ 20,000 |
Guarantees, Fair Value Disclosure | 378 | $ 482 |
Minimum [Member] | ||
Servicing Liability, Estimated Annual Costs | 10,000 | |
Maximum [Member] | ||
Servicing Liability, Estimated Annual Costs | $ 20,000 |
Note 13 - Commitments and Con_4
Note 13 - Commitments and Contingent Liabilities - Material Adverse Effect on Company's Financial Condition (Details) $ in Thousands | Jun. 30, 2020USD ($) |
Total Amounts Committed | $ 748,240 |
Less Than 1 Year | 719,007 |
1-3 Years | 28,553 |
3-5 Years | 398 |
Beyond 5 years | 282 |
Standby Letters of Credit [Member] | |
Total Amounts Committed | 109,426 |
Less Than 1 Year | 89,901 |
1-3 Years | 19,525 |
3-5 Years | 0 |
Beyond 5 years | 0 |
Standby Letters of Credit [Member] | Employee Related Commitment [Member] | |
Total Amounts Committed | 68,346 |
Less Than 1 Year | 50,925 |
1-3 Years | 17,421 |
3-5 Years | 0 |
Beyond 5 years | 0 |
Standby Letters of Credit [Member] | Environmental Commitment [Member] | |
Total Amounts Committed | 398 |
Less Than 1 Year | 398 |
1-3 Years | 0 |
3-5 Years | 0 |
Beyond 5 years | 0 |
Standby Letters of Credit [Member] | Other Commitment [Member] | |
Total Amounts Committed | 40,682 |
Less Than 1 Year | 38,578 |
1-3 Years | 2,104 |
3-5 Years | 0 |
Beyond 5 years | 0 |
Surety Bond [Member] | |
Total Amounts Committed | 626,710 |
Less Than 1 Year | 622,373 |
1-3 Years | 4,337 |
3-5 Years | 0 |
Beyond 5 years | 0 |
Surety Bond [Member] | Employee Related Commitment [Member] | |
Total Amounts Committed | 87,424 |
Less Than 1 Year | 87,424 |
1-3 Years | 0 |
3-5 Years | 0 |
Beyond 5 years | 0 |
Surety Bond [Member] | Environmental Commitment [Member] | |
Total Amounts Committed | 535,155 |
Less Than 1 Year | 531,461 |
1-3 Years | 3,694 |
3-5 Years | 0 |
Beyond 5 years | 0 |
Surety Bond [Member] | Other Commitment [Member] | |
Total Amounts Committed | 4,131 |
Less Than 1 Year | 3,488 |
1-3 Years | 643 |
3-5 Years | 0 |
Beyond 5 years | 0 |
Other Guarantee Obligations [Member] | |
Total Amounts Committed | 12,104 |
Less Than 1 Year | 6,733 |
1-3 Years | 4,691 |
3-5 Years | 398 |
Other Guarantee Obligations [Member] | Other Commitment [Member] | |
Total Amounts Committed | 12,104 |
Less Than 1 Year | 6,733 |
1-3 Years | 4,691 |
3-5 Years | 398 |
Beyond 5 years | $ 282 |
Note 14 - Fair Value Of Finan_3
Note 14 - Fair Value Of Financial instruments - Financial Instruments Measured at Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 | |
Lease Guarantees | $ (378) | $ (482) | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Lease Guarantees | 0 | 0 | |
Derivatives (1) | [1] | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Lease Guarantees | 0 | 0 | |
Derivatives (1) | [1] | (3,877) | (154) |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Lease Guarantees | (378) | (482) | |
Derivatives (1) | [1] | $ 0 | $ 0 |
[1] | Interest rate swaps are valued based on observable market swap rates and are classified within Level 2 of the fair value hierarchy. |
Note 14 - Fair Value Of Finan_4
Note 14 - Fair Value Of Financial instruments - Schedule of Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Long-Term Debt, Carrying Amount | $ 652,555 | $ 696,178 |
Long-Term Debt, Fair Value | $ 452,983 | $ 642,018 |
Note 15 - Segment Information_2
Note 15 - Segment Information (Details Textual) | 6 Months Ended |
Jun. 30, 2020 | |
Number of Reportable Segments | 1 |
Note 15 - Segment Information -
Note 15 - Segment Information - Industry Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | ||
Revenue | $ 121,296 | $ 371,182 | $ 396,396 | $ 728,165 | ||
Earnings (Loss) Before Income Tax | (28,746) | 47,022 | (24,363) | 66,475 | ||
Segment Assets | 2,566,132 | 2,765,471 | 2,566,132 | 2,765,471 | $ 2,693,802 | |
Depreciation, Depletion and Amortization | 46,155 | 46,151 | 101,098 | 96,875 | ||
Capital Expenditures | 19,269 | 48,783 | 46,447 | 82,954 | ||
Coal Revenue [Member] | ||||||
Revenue | [1] | 102,313 | 350,620 | 357,765 | 683,123 | |
Terminal Revenue [Member] | ||||||
Revenue | 15,898 | 16,708 | 32,399 | 34,526 | ||
Freight Revenue [Member] | ||||||
Revenue | 3,085 | 3,854 | 6,232 | 10,516 | ||
Intersegment Eliminations [Member] | ||||||
Revenue | 0 | 0 | 0 | 0 | ||
Earnings (Loss) Before Income Tax | 0 | 0 | 0 | 0 | ||
Segment Assets | 0 | 0 | 0 | 0 | ||
Depreciation, Depletion and Amortization | 0 | 0 | 0 | 0 | ||
Capital Expenditures | 0 | 0 | 0 | 0 | ||
Intersegment Eliminations [Member] | Coal Revenue [Member] | ||||||
Revenue | [1] | 0 | 0 | 0 | 0 | |
Intersegment Eliminations [Member] | Terminal Revenue [Member] | ||||||
Revenue | 0 | 0 | 0 | 0 | ||
Intersegment Eliminations [Member] | Freight Revenue [Member] | ||||||
Revenue | 0 | 0 | 0 | 0 | ||
Pennsylvania Mining Complex [Member] | Operating Segments [Member] | ||||||
Revenue | 105,111 | 354,474 | 363,710 | 693,639 | ||
Earnings (Loss) Before Income Tax | (21,823) | 60,786 | (10,949) | 125,484 | ||
Segment Assets | 1,889,557 | 1,973,627 | 1,889,557 | 1,973,627 | ||
Depreciation, Depletion and Amortization | 46,793 | 45,427 | 95,210 | 90,295 | ||
Capital Expenditures | 16,262 | 39,813 | 36,954 | 72,185 | ||
Pennsylvania Mining Complex [Member] | Operating Segments [Member] | Coal Revenue [Member] | ||||||
Revenue | [1] | 102,026 | 350,620 | 357,478 | 683,123 | |
Pennsylvania Mining Complex [Member] | Operating Segments [Member] | Terminal Revenue [Member] | ||||||
Revenue | 0 | 0 | 0 | 0 | ||
Pennsylvania Mining Complex [Member] | Operating Segments [Member] | Freight Revenue [Member] | ||||||
Revenue | 3,085 | 3,854 | 6,232 | 10,516 | ||
Other Segments [Member] | Operating Segments [Member] | ||||||
Revenue | 16,185 | 16,708 | 32,686 | 34,526 | ||
Earnings (Loss) Before Income Tax | (6,923) | (13,764) | (13,414) | (59,009) | ||
Segment Assets | 676,575 | 791,844 | 676,575 | 791,844 | ||
Depreciation, Depletion and Amortization | (638) | 724 | 5,888 | 6,580 | ||
Capital Expenditures | 3,007 | 8,970 | 9,493 | 10,769 | ||
Other Segments [Member] | Operating Segments [Member] | Coal Revenue [Member] | ||||||
Revenue | [1] | 287 | 0 | 287 | 0 | |
Other Segments [Member] | Operating Segments [Member] | Terminal Revenue [Member] | ||||||
Revenue | 15,898 | 16,708 | 32,399 | 34,526 | ||
Other Segments [Member] | Operating Segments [Member] | Freight Revenue [Member] | ||||||
Revenue | $ 0 | $ 0 | $ 0 | $ 0 | ||
[1] | For the three and six months ended June 30, 2020 and 2019, the PAMC segment had revenues from the following customers, each comprising over 10% of the Company’s total sales |
Note 15 - Segment Information_3
Note 15 - Segment Information - Segment Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Revenue | $ 121,296 | $ 371,182 | $ 396,396 | $ 728,165 |
Pennsylvania Mining Complex [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer B [Member] | ||||
Revenue | 30,032 | 139,811 | 134,386 | 262,930 |
Pennsylvania Mining Complex [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer C [Member] | ||||
Revenue | $ 14,060 | 53,511 | 49,743 | 95,377 |
Pennsylvania Mining Complex [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer A [Member] | ||||
Revenue | $ 68,370 | $ 48,829 | $ 130,241 |
Note 15 - Segment Information_4
Note 15 - Segment Information - Total Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 |
Segment Assets | $ 2,566,132 | $ 2,693,802 | $ 2,765,471 |
Cash and Other Investments | 45,834 | 183,899 | |
Deferred Tax Assets | 108,898 | $ 103,505 | 91,837 |
Operating Segments [Member] | Reportable Segments [Member] | |||
Segment Assets | 1,889,557 | 1,973,627 | |
Operating Segments [Member] | All Other Segment [Member] | |||
Segment Assets | $ 521,843 | $ 516,108 |
Note 16 - Additional Informat_3
Note 16 - Additional Information With Respect to Unrestricted Subsidiaries - Income Statement (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | ||
Revenue | $ 121,296 | $ 371,182 | $ 396,396 | $ 728,165 | |||
Miscellaneous Other Income | 33,936 | 12,194 | 50,106 | 25,486 | |||
Gain (Loss) on Sale of Assets | 7,329 | 933 | 7,315 | 1,272 | |||
Total Revenue and Other Income | 162,561 | 384,309 | 453,817 | 754,923 | |||
Operating and Other Costs | 116,406 | 253,448 | 328,681 | 483,561 | |||
Depreciation, Depletion and Amortization | 46,155 | 46,151 | 101,098 | 96,875 | |||
Freight Expense | 3,085 | 3,854 | 6,232 | 10,516 | |||
Selling, General and Administrative Costs | 10,939 | 16,288 | 28,609 | 38,211 | |||
Interest Expense, net | 14,722 | 16,046 | 30,393 | 34,642 | |||
Total Costs and Expenses | 191,307 | 337,287 | 478,180 | 688,448 | |||
(Loss) Earnings Before Income Tax | (28,746) | 47,022 | (24,363) | 66,475 | |||
Income Tax Benefit | (7,683) | (1,808) | (5,775) | (2,658) | |||
Net Income (loss) | (21,063) | $ 2,475 | 48,830 | $ 20,303 | (18,588) | 69,133 | |
Less: Net (Loss) Income Attributable to Noncontrolling Interest | (3,080) | 5,550 | (2,972) | 11,418 | |||
Net (Loss) Income Attributable to CONSOL Energy Inc. Shareholders | (17,983) | 43,280 | (15,616) | 57,715 | |||
Loss on Debt Extinguishment | 0 | (1,500) | 16,833 | (24,643) | |||
(Gain) Loss on Debt Extinguishment | 0 | 1,500 | (16,833) | 24,643 | |||
Loss on Debt Extinguishment | 0 | (1,500) | 16,833 | (24,643) | |||
Loss (Gain) on Debt Extinguishment | 0 | 1,500 | (16,833) | 24,643 | |||
Coal Revenue [Member] | |||||||
Revenue | [1] | 102,313 | 350,620 | 357,765 | 683,123 | ||
Terminal Revenue [Member] | |||||||
Revenue | 15,898 | 16,708 | 32,399 | 34,526 | |||
Freight Revenue [Member] | |||||||
Revenue | 3,085 | 3,854 | 6,232 | 10,516 | |||
Parent Company and Restricted Subsidiaries [Member] | |||||||
Miscellaneous Other Income | 16,802 | (7,844) | 20,665 | 4,137 | |||
Gain (Loss) on Sale of Assets | 7,329 | 943 | 7,315 | 1,277 | |||
Total Revenue and Other Income | 119,149 | 275,662 | 333,448 | 560,169 | |||
Operating and Other Costs | 91,325 | 194,580 | 254,917 | 372,184 | |||
Depreciation, Depletion and Amortization | 34,635 | 34,815 | 77,650 | 74,322 | |||
Freight Expense | 2,314 | 2,890 | 4,674 | 7,887 | |||
Selling, General and Administrative Costs | 8,579 | 13,335 | 22,203 | 30,698 | |||
Interest Expense, net | 12,468 | 14,489 | 25,984 | 31,734 | |||
Total Costs and Expenses | 149,321 | 261,609 | 368,595 | 541,468 | |||
(Loss) Earnings Before Income Tax | (30,172) | 14,053 | (35,147) | 18,701 | |||
Income Tax Benefit | (7,683) | (1,808) | (5,775) | (2,658) | |||
Net Income (loss) | (22,489) | 15,861 | (29,372) | 21,359 | |||
Less: Net (Loss) Income Attributable to Noncontrolling Interest | (3,080) | 5,550 | (2,972) | 11,418 | |||
Net (Loss) Income Attributable to CONSOL Energy Inc. Shareholders | (19,409) | 10,311 | (26,400) | 9,941 | |||
Loss on Debt Extinguishment | (1,500) | 16,833 | 24,643 | ||||
(Gain) Loss on Debt Extinguishment | 1,500 | (16,833) | (24,643) | ||||
Loss on Debt Extinguishment | (1,500) | 16,833 | 24,643 | ||||
Loss (Gain) on Debt Extinguishment | 1,500 | (16,833) | (24,643) | ||||
Parent Company and Restricted Subsidiaries [Member] | Coal Revenue [Member] | |||||||
Revenue | 76,806 | 262,965 | 268,395 | 512,342 | |||
Parent Company and Restricted Subsidiaries [Member] | Terminal Revenue [Member] | |||||||
Revenue | 15,898 | 16,708 | 32,399 | 34,526 | |||
Parent Company and Restricted Subsidiaries [Member] | Freight Revenue [Member] | |||||||
Revenue | 2,314 | 2,890 | 4,674 | 7,887 | |||
Subsidiaries [Member] | |||||||
Miscellaneous Other Income | 17,134 | 20,038 | 29,441 | 21,349 | |||
Gain (Loss) on Sale of Assets | 0 | (10) | 0 | (5) | |||
Total Revenue and Other Income | 43,412 | 108,647 | 120,369 | 194,754 | |||
Operating and Other Costs | 25,081 | 58,868 | 73,764 | 111,377 | |||
Depreciation, Depletion and Amortization | 11,520 | 11,336 | 23,448 | 22,553 | |||
Freight Expense | 771 | 964 | 1,558 | 2,629 | |||
Selling, General and Administrative Costs | 2,360 | 2,953 | 6,406 | 7,513 | |||
Interest Expense, net | 2,254 | 1,557 | 4,409 | 2,908 | |||
Total Costs and Expenses | 41,986 | 75,678 | 109,585 | 146,980 | |||
(Loss) Earnings Before Income Tax | 1,426 | 32,969 | 10,784 | 47,774 | |||
Income Tax Benefit | 0 | 0 | 0 | 0 | |||
Net Income (loss) | 1,426 | 32,969 | 10,784 | 47,774 | |||
Less: Net (Loss) Income Attributable to Noncontrolling Interest | 0 | 0 | 0 | 0 | |||
Net (Loss) Income Attributable to CONSOL Energy Inc. Shareholders | 1,426 | 32,969 | 10,784 | 47,774 | |||
Loss on Debt Extinguishment | 0 | 0 | 0 | ||||
(Gain) Loss on Debt Extinguishment | 0 | 0 | 0 | ||||
Loss on Debt Extinguishment | 0 | 0 | 0 | ||||
Loss (Gain) on Debt Extinguishment | 0 | 0 | 0 | ||||
Subsidiaries [Member] | Coal Revenue [Member] | |||||||
Revenue | 25,507 | 87,655 | 89,370 | 170,781 | |||
Subsidiaries [Member] | Terminal Revenue [Member] | |||||||
Revenue | 0 | 0 | 0 | 0 | |||
Subsidiaries [Member] | Freight Revenue [Member] | |||||||
Revenue | $ 771 | $ 964 | $ 1,558 | $ 2,629 | |||
[1] | For the three and six months ended June 30, 2020 and 2019, the PAMC segment had revenues from the following customers, each comprising over 10% of the Company’s total sales |
Note 16 - Additional Informat_4
Note 16 - Additional Information With Respect to Unrestricted Subsidiaries - Balance Sheet (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 |
Cash and Cash Equivalents | $ 33,027 | $ 80,293 | |
Trade Receivables, net | 99,993 | 131,688 | |
Other Receivables, net | 27,836 | 40,984 | |
Inventories | 61,041 | 54,131 | |
Prepaid Expenses and Other Assets | 21,083 | 30,933 | |
Total Current Assets | 242,980 | 338,029 | |
Property, Plant and Equipment | 5,063,942 | 5,008,180 | |
Less—Accumulated Depreciation, Depletion and Amortization | 2,996,331 | 2,916,015 | |
Total Property, Plant and Equipment - Net | 2,067,611 | 2,092,165 | |
Deferred Income Taxes | 108,898 | 103,505 | $ 91,837 |
Right of Use Asset - Operating Leases | 62,909 | 72,632 | |
Other, net | 83,734 | 87,471 | |
Total Other Assets | 255,541 | 263,608 | |
TOTAL ASSETS | 2,566,132 | 2,693,802 | $ 2,765,471 |
Accounts Payable | 66,452 | 106,223 | |
Accounts (Recoverable) Payable - Related Parties | 0 | 0 | |
Current Portion of Long-Term Debt | 66,925 | 50,272 | |
Other Accrued Liabilities | 240,526 | 235,769 | |
Total Current Liabilities | 373,903 | 392,264 | |
Long-Term Debt, Related Party | 0 | 0 | |
Long-Term Debt, Related Party | 0 | 0 | |
Long-Term Debt | 595,360 | 653,802 | |
Finance Lease Obligations | 23,540 | 9,036 | |
Total Long-Term Debt | 618,900 | 662,838 | |
Postretirement Benefits Other Than Pensions | 425,493 | 432,496 | |
Pneumoconiosis Benefits | 201,174 | 202,142 | |
Asset Retirement Obligations | 228,648 | 250,211 | |
Workers’ Compensation | 61,189 | 61,194 | |
Salary Retirement | 38,947 | 49,930 | |
Operating Lease Liability | 45,479 | 55,413 | |
Other | 16,524 | 14,919 | |
Total Deferred Credits and Other Liabilities | 1,017,454 | 1,066,305 | |
TOTAL LIABILITIES | 2,010,257 | 2,121,407 | |
Total CONSOL Energy Inc. Stockholders’ Equity | 427,181 | 435,199 | |
Noncontrolling Interest | 128,694 | 137,196 | |
TOTAL LIABILITIES AND EQUITY | 2,566,132 | 2,693,802 | |
Parent Company and Restricted Subsidiaries [Member] | |||
Cash and Cash Equivalents | 32,893 | 79,717 | |
Trade Receivables, net | 0 | 0 | |
Other Receivables, net | 27,089 | 39,412 | |
Inventories | 46,919 | 41,478 | |
Prepaid Expenses and Other Assets | 18,322 | 25,181 | |
Total Current Assets | 125,223 | 185,788 | |
Property, Plant and Equipment | 4,062,898 | 4,023,282 | |
Less—Accumulated Depreciation, Depletion and Amortization | 2,402,098 | 2,344,777 | |
Total Property, Plant and Equipment - Net | 1,660,800 | 1,678,505 | |
Deferred Income Taxes | 108,898 | 103,505 | |
Right of Use Asset - Operating Leases | 49,574 | 56,937 | |
Other, net | 70,488 | 74,015 | |
Total Other Assets | 228,960 | 234,457 | |
TOTAL ASSETS | 2,014,983 | 2,098,750 | |
Accounts Payable | 48,223 | 79,140 | |
Accounts (Recoverable) Payable - Related Parties | (4,731) | (1,419) | |
Current Portion of Long-Term Debt | 58,162 | 45,020 | |
Other Accrued Liabilities | 203,744 | 196,314 | |
Total Current Liabilities | 305,398 | 319,055 | |
Long-Term Debt, Related Party | (158,169) | (148,156) | |
Long-Term Debt, Related Party | 158,169 | 148,156 | |
Long-Term Debt | 595,360 | 653,802 | |
Finance Lease Obligations | 17,874 | 7,391 | |
Total Long-Term Debt | 455,065 | 513,037 | |
Postretirement Benefits Other Than Pensions | 425,493 | 432,496 | |
Pneumoconiosis Benefits | 194,666 | 196,114 | |
Asset Retirement Obligations | 217,618 | 239,410 | |
Workers’ Compensation | 57,378 | 57,583 | |
Salary Retirement | 38,947 | 49,930 | |
Operating Lease Liability | 36,377 | 43,906 | |
Other | 15,668 | 14,134 | |
Total Deferred Credits and Other Liabilities | 986,147 | 1,033,573 | |
TOTAL LIABILITIES | 1,746,610 | 1,865,665 | |
Total CONSOL Energy Inc. Stockholders’ Equity | 139,679 | 95,889 | |
Noncontrolling Interest | 128,694 | 137,196 | |
TOTAL LIABILITIES AND EQUITY | 2,014,983 | 2,098,750 | |
Subsidiaries [Member] | |||
Cash and Cash Equivalents | 134 | 576 | |
Trade Receivables, net | 99,993 | 131,688 | |
Other Receivables, net | 747 | 1,572 | |
Inventories | 14,122 | 12,653 | |
Prepaid Expenses and Other Assets | 2,761 | 5,752 | |
Total Current Assets | 117,757 | 152,241 | |
Property, Plant and Equipment | 1,001,044 | 984,898 | |
Less—Accumulated Depreciation, Depletion and Amortization | 594,233 | 571,238 | |
Total Property, Plant and Equipment - Net | 406,811 | 413,660 | |
Deferred Income Taxes | 0 | 0 | |
Right of Use Asset - Operating Leases | 13,335 | 15,695 | |
Other, net | 13,246 | 13,456 | |
Total Other Assets | 26,581 | 29,151 | |
TOTAL ASSETS | 551,149 | 595,052 | |
Accounts Payable | 18,229 | 27,083 | |
Accounts (Recoverable) Payable - Related Parties | 4,731 | 1,419 | |
Current Portion of Long-Term Debt | 8,763 | 5,252 | |
Other Accrued Liabilities | 36,782 | 39,455 | |
Total Current Liabilities | 68,505 | 73,209 | |
Long-Term Debt, Related Party | 158,169 | (148,156) | |
Long-Term Debt, Related Party | (158,169) | 148,156 | |
Long-Term Debt | 0 | 0 | |
Finance Lease Obligations | 5,666 | 1,645 | |
Total Long-Term Debt | 163,835 | 149,801 | |
Postretirement Benefits Other Than Pensions | 0 | 0 | |
Pneumoconiosis Benefits | 6,508 | 6,028 | |
Asset Retirement Obligations | 11,030 | 10,801 | |
Workers’ Compensation | 3,811 | 3,611 | |
Salary Retirement | 0 | 0 | |
Operating Lease Liability | 9,102 | 11,507 | |
Other | 856 | 785 | |
Total Deferred Credits and Other Liabilities | 31,307 | 32,732 | |
TOTAL LIABILITIES | 263,647 | 255,742 | |
Total CONSOL Energy Inc. Stockholders’ Equity | 287,502 | 339,310 | |
Noncontrolling Interest | 0 | 0 | |
TOTAL LIABILITIES AND EQUITY | $ 551,149 | $ 595,052 |
Note 17 - Related Party Trans_3
Note 17 - Related Party Transactions (Details Textual) $ / shares in Units, $ in Thousands | Jun. 05, 2020 | Aug. 31, 2019shares | Jun. 30, 2020USD ($)shares | Jun. 30, 2019USD ($)$ / sharesshares | Jun. 30, 2020USD ($)shares | Jun. 30, 2019USD ($)$ / sharesshares | Dec. 31, 2019USD ($) | Nov. 28, 2019USD ($) | May 31, 2019USD ($) |
Common Unit Shares Issued Upon Conversion | 1 | ||||||||
CONSOL Coal Resources L P Units Member | |||||||||
Conversion of Stock, Shares Converted (in shares) | shares | 11,611,067 | ||||||||
Stock and Debt Repurchase Program, Restricted Authorized Amount | $ 50,000 | ||||||||
CONSOL Coal Resources L P Member | |||||||||
Accounts Payable, Related Parties, Current | $ 4,731 | $ 4,731 | $ 1,419 | ||||||
Stock and Debt Repurchase Program, Restricted Authorized Amount | $ 50,000 | ||||||||
CONSOL Coal Resources L P Member | |||||||||
Stock Purchased During Period, Affiliated Entity Units (in shares) | shares | 0 | 6,884 | 0 | 6,884 | |||||
Stock Purchased, Affiliated Entity, Average Cost Per Share (in dollars per share) | $ / shares | $ 17.35 | $ 17.35 | |||||||
CNX Resources Corporation [Member] | |||||||||
Notes Receivable, Related Parties | $ 6,791 | ||||||||
Affiliated Company Credit Agreement [Member] | Affiliated Entity [Member] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 275,000 | ||||||||
Long-term Line of Credit, Total | $ 201,000 | ||||||||
Affiliated Company Credit Agreement [Member] | Affiliated Entity [Member] | CONSOL Coal Resources L P Member | |||||||||
Interest Expense, Related Party | $ 2,163 | $ 1,971 | $ 4,277 | $ 3,766 | |||||
Affiliated Company Credit Agreement [Member] | Affiliated Entity [Member] | CONSOL Coal Resources L P Member | Minimum [Member] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | ||||||||
Affiliated Company Credit Agreement [Member] | Affiliated Entity [Member] | CONSOL Coal Resources L P Member | Maximum [Member] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.25% | ||||||||
Affiliated Company Credit Agreement [Member] | Affiliated Entity [Member] | Senior Secured Revolving Credit Facility [Member] | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 400,000 | ||||||||
Debt Instrument, Interest Rate, Increase (Decrease) | 0.50% |
Note 17 - Related Party Trans_4
Note 17 - Related Party Transactions - Changes for Services (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Total Services from CONSOL Energy | $ 2,720 | $ 2,741 | $ 6,366 | $ 6,560 |
Operating and Other Costs [Member] | ||||
Total Services from CONSOL Energy | 856 | 767 | 1,709 | 1,530 |
Selling, General and Administrative Expenses [Member] | ||||
Total Services from CONSOL Energy | $ 1,864 | $ 1,974 | $ 4,657 | $ 5,030 |
Note 18 - Stock, Unit and Deb_2
Note 18 - Stock, Unit and Debt Repurchases (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | May 31, 2020 | Jul. 31, 2019 | May 31, 2019 | Jul. 31, 2018 | Dec. 31, 2017 | Nov. 30, 2017 | |
Stock Repurchase Program, Authorized Amount | $ 50,000 | $ 50,000 | ||||||||
Stock and Debt Repurchase Program, Authorized Amount | $ 100,000 | |||||||||
Stock Repurchased and Retired During Period, Shares (in shares) | 0 | 351,443 | 351,443 | |||||||
Weighted Average [Member] | ||||||||||
Share Price (in dollars per share) | $ 27.18 | $ 27.18 | ||||||||
CONSOL Coal Resources L P Member | ||||||||||
Stock Purchased During Period, Affiliated Entity Units (in shares) | 0 | 6,884 | 0 | 6,884 | ||||||
Stock Purchased, Affiliated Entity, Average Cost Per Share (in dollars per share) | $ 17.35 | $ 17.35 | ||||||||
CONSOL Coal Resources L P Member | ||||||||||
Stock and Debt Repurchase Program, Authorized Amount | $ 270,000 | $ 200,000 | ||||||||
Stock and Debt Repurchase Program, Additional Authorized Amount | $ 70,000 | $ 25,000 | ||||||||
Stock and Debt Repurchase Program, Restricted Authorized Amount | $ 50,000 | |||||||||
CONSOL Coal Resources L P Units Member | ||||||||||
Stock and Debt Repurchase Program, Authorized Amount | 175,000 | |||||||||
Stock and Debt Repurchase Program, Additional Authorized Amount | 75,000 | $ 25,000 | ||||||||
Stock and Debt Repurchase Program, Restricted Authorized Amount | $ 50,000 | |||||||||
Senior Secured Second Lien Notes due 2025 [Member] | ||||||||||
Repayments of Debt | $ 25,480 | $ 19,320 | ||||||||
Senior Notes [Member] | Senior Secured Second Lien Notes due 2025 [Member] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 11.00% | 11.00% | 11.00% | 11.00% | 11.00% | 11.00% | 11.00% | |||
Repayments of Debt | $ 43,176 | $ 19,320 |