Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Jul. 22, 2022 | |
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 | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2022 | |
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 | 275 Technology Drive Suite 101 | |
Entity Address, City or Town | Canonsburg | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 15317-9565 | |
City Area Code | 724 | |
Local Phone Number | 416-8300 | |
Title of 12(b) Security | Common Stock, $0.01 par value | |
Trading Symbol | CEIX | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 34,867,738 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Total Revenue from Contracts with Customers | $ 604,882 | $ 303,222 | $ 1,141,036 | $ 633,982 |
Loss on Commodity Derivatives, net | (68,352) | (20,437) | (256,506) | (20,437) |
Miscellaneous Other Income | 7,724 | 2,034 | 12,072 | 5,223 |
Gain on Sale of Assets | 365 | 2,340 | 6,546 | 10,542 |
Total Revenue and Other Income | 544,619 | 287,159 | 903,148 | 629,310 |
Costs and Expenses: | ||||
Operating and Other Costs | 244,764 | 175,104 | 463,299 | 360,638 |
Depreciation, Depletion and Amortization | 57,880 | 52,199 | 113,834 | 112,096 |
Freight Expense | 50,411 | 26,010 | 88,800 | 53,023 |
General and Administrative Costs | 27,364 | 22,486 | 64,513 | 46,026 |
Loss (Gain) on Debt Extinguishment | 1,565 | (106) | 3,687 | (789) |
Interest Expense, net | 13,121 | 16,187 | 27,473 | 31,448 |
Total Costs and Expenses | 395,105 | 291,880 | 761,606 | 602,442 |
Earnings (Loss) Before Income Tax | 149,514 | (4,721) | 141,542 | 26,868 |
Add: Income Tax Expense | 23,223 | (8,893) | 19,701 | (3,708) |
Net Income | $ 126,291 | $ 4,172 | $ 121,841 | $ 30,576 |
Earnings per Share: | ||||
Total Basic Earnings per Share (in dollars per share) | $ 3.62 | $ 0.12 | $ 3.51 | $ 0.89 |
Total Dilutive Earnings per Share (in dollars per share) | $ 3.54 | $ 0.12 | $ 3.42 | $ 0.87 |
Coal Revenue [Member] | ||||
Total Revenue from Contracts with Customers | $ 532,692 | $ 259,832 | $ 1,009,060 | $ 545,367 |
Terminal Revenue [Member] | ||||
Total Revenue from Contracts with Customers | 21,779 | 17,380 | 43,176 | 35,592 |
Freight Revenue [Member] | ||||
Total Revenue from Contracts with Customers | $ 50,411 | $ 26,010 | $ 88,800 | $ 53,023 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Net Income (Loss) Attributable to Parent, Total | $ 126,291 | $ 4,172 | $ 121,841 | $ 30,576 |
Other Comprehensive Income: | ||||
Actuarially Determined Long-Term Liability Adjustments, Tax | 1,524 | 4,125 | 3,049 | 7,485 |
Unrealized Gain on Cash Flow Hedges (Net of tax: ($75), ($135), ($205), ($279)) | 224 | 391 | 615 | 805 |
Other Comprehensive Income | 1,748 | 4,516 | 3,664 | 8,290 |
Comprehensive Income | $ 128,039 | $ 8,688 | $ 125,505 | $ 38,866 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Actuarially Determined Long-Term Liability Adjustments, Tax | $ 508 | $ 1,427 | $ 1,016 | $ 2,591 |
Unrealized Loss on Cash Flow Hedges, Tax | $ 75 | $ 135 | $ 205 | $ 279 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Current Assets: | ||
Cash and Cash Equivalents | $ 261,569 | $ 149,913 |
Restricted Cash - Current | 43,025 | 32,605 |
Accounts and Notes Receivable | ||
Trade Receivables, net | 137,346 | 104,099 |
Other Receivables, net | 11,976 | 11,631 |
Inventories | 68,443 | 62,876 |
Prepaid Expenses and Other Current Assets | 18,371 | 25,216 |
Total Current Assets | 540,730 | 386,340 |
Property, Plant and Equipment: | ||
Property, Plant and Equipment | 5,333,733 | 5,250,805 |
Less - Accumulated Depreciation, Depletion and Amortization | 3,373,966 | 3,272,255 |
Total Property, Plant and Equipment, Net | 1,959,767 | 1,978,550 |
Other Assets: | ||
Deferred Income Taxes | 63,554 | 57,011 |
Right of Use Asset - Operating Leases | 23,882 | 21,956 |
Restricted Cash - Non-current | 8,065 | 15,688 |
Salary Retirement | 49,075 | 38,947 |
Other Noncurrent Assets, net | 75,413 | 75,025 |
Total Other Assets | 219,989 | 208,627 |
TOTAL ASSETS | 2,720,486 | 2,573,517 |
Current Liabilities: | ||
Accounts Payable | 115,004 | 80,343 |
Current Portion of Long-Term Debt | 26,340 | 57,332 |
Operating Lease Liability, Current Portion | 7,144 | 6,682 |
Commodity Derivatives | 174,928 | 52,204 |
Other Accrued Liabilities | 253,088 | 248,671 |
Total Current Liabilities | 576,504 | 445,232 |
Long-Term Debt: | ||
Long-Term Debt | 461,956 | 568,052 |
Finance Lease Obligations | 17,270 | 26,598 |
Total Long-Term Debt | 479,226 | 594,650 |
Deferred Credits and Other Liabilities: | ||
Postretirement Benefits Other Than Pensions | 323,763 | 329,659 |
Pneumoconiosis Benefits | 199,836 | 203,473 |
Asset Retirement Obligations | 215,939 | 210,718 |
Workers’ Compensation | 56,921 | 58,148 |
Salary Retirement Liability (Note 15) | 25,739 | 26,013 |
Operating Lease Liability | 16,787 | 15,274 |
Other Noncurrent Liabilities | 28,177 | 17,537 |
Total Deferred Credits and Other Liabilities | 867,162 | 860,822 |
TOTAL LIABILITIES | 1,922,892 | 1,900,704 |
Stockholders' Equity: | ||
Common Stock, $0.01 Par Value; 62,500,000 Shares Authorized, 34,867,738 Shares Issued and Outstanding at June 30, 2022; 34,480,181 Shares Issued and Outstanding at December 31, 2021 | 349 | 345 |
Capital in Excess of Par Value | 646,217 | 646,945 |
Retained Earnings | 402,801 | 280,960 |
Accumulated Other Comprehensive Loss | (251,773) | (255,437) |
TOTAL EQUITY | 797,594 | 672,813 |
TOTAL LIABILITIES AND EQUITY | $ 2,720,486 | $ 2,573,517 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2022 | Dec. 31, 2021 |
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) | 34,867,738 | 34,480,181 |
Common stock shares outstanding (in shares) | 34,867,738 | 34,480,181 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | CONSOL Coal Resources L P [Member] Common Stock [Member] | CONSOL Coal Resources L P [Member] Additional Paid-in Capital [Member] | CONSOL Coal Resources L P [Member] Retained Earnings [Member] | CONSOL Coal Resources L P [Member] AOCI Attributable to Parent [Member] | CONSOL Coal Resources L P [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2020 | $ 340 | $ 642,887 | $ 246,850 | $ (336,558) | $ 553,519 | |||||
Net (Loss) Income | 0 | 0 | 26,404 | 0 | 26,404 | |||||
Actuarially Determined Long-Term Liability Adjustments, Net of Tax | 0 | 0 | 0 | 3,360 | 3,360 | |||||
Interest Rate Hedge, net | 0 | 0 | 0 | 414 | 414 | |||||
Comprehensive (Loss) Income | 0 | 0 | 26,404 | 3,774 | 30,178 | |||||
Issuance of Common Stock | 4 | 0 | 0 | 0 | ||||||
Issuance of Common Stock | (4) | |||||||||
Amortization of Stock-Based Compensation Awards | 0 | 1,509 | 0 | 0 | 1,509 | |||||
Shares Withheld for Taxes | 0 | (2,072) | 0 | 0 | (2,072) | |||||
Actuarially Determined Long-Term Liability Adjustments, Tax | 0 | 0 | 0 | 3,360 | 3,360 | |||||
CCR Merger | $ 0 | $ (266) | $ 0 | $ 197 | $ (69) | |||||
Balance at Mar. 31, 2021 | 344 | 642,054 | 273,254 | (332,587) | 583,065 | |||||
Balance at Dec. 31, 2020 | 340 | 642,887 | 246,850 | (336,558) | 553,519 | |||||
Net (Loss) Income | 30,576 | |||||||||
Actuarially Determined Long-Term Liability Adjustments, Net of Tax | 7,485 | |||||||||
Interest Rate Hedge, net | 805 | |||||||||
Comprehensive (Loss) Income | 38,866 | |||||||||
Actuarially Determined Long-Term Liability Adjustments, Tax | 7,485 | |||||||||
Balance at Jun. 30, 2021 | 345 | 643,033 | 277,426 | (328,071) | 592,733 | |||||
Balance at Mar. 31, 2021 | 344 | 642,054 | 273,254 | (332,587) | 583,065 | |||||
Net (Loss) Income | 0 | 0 | 4,172 | 0 | 4,172 | |||||
Actuarially Determined Long-Term Liability Adjustments, Net of Tax | 0 | 0 | 0 | 4,125 | 4,125 | |||||
Interest Rate Hedge, net | 0 | 0 | 0 | 391 | 391 | |||||
Comprehensive (Loss) Income | 0 | 0 | 4,172 | 4,516 | 8,688 | |||||
Issuance of Common Stock | 1 | 0 | 0 | 0 | ||||||
Issuance of Common Stock | (1) | |||||||||
Amortization of Stock-Based Compensation Awards | 0 | 1,210 | 0 | 0 | 1,210 | |||||
Shares Withheld for Taxes | 0 | (230) | 0 | 0 | (230) | |||||
Actuarially Determined Long-Term Liability Adjustments, Tax | 0 | 0 | 0 | 4,125 | 4,125 | |||||
Balance at Jun. 30, 2021 | 345 | 643,033 | 277,426 | (328,071) | 592,733 | |||||
Balance at Dec. 31, 2021 | 345 | 646,945 | 280,960 | (255,437) | 672,813 | |||||
Net (Loss) Income | 0 | 0 | (4,450) | 0 | (4,450) | |||||
Actuarially Determined Long-Term Liability Adjustments, Net of Tax | 0 | 0 | 0 | 1,525 | 1,525 | |||||
Interest Rate Hedge, net | 0 | 0 | 0 | 391 | 391 | |||||
Comprehensive (Loss) Income | 0 | 0 | (4,450) | 1,916 | (2,534) | |||||
Issuance of Common Stock | 3 | 0 | 0 | 0 | ||||||
Issuance of Common Stock | (3) | |||||||||
Amortization of Stock-Based Compensation Awards | 0 | 4,201 | 0 | 0 | 4,201 | |||||
Shares Withheld for Taxes | 0 | (6,072) | 0 | 0 | (6,072) | |||||
Actuarially Determined Long-Term Liability Adjustments, Tax | 0 | 0 | 0 | 1,525 | 1,525 | |||||
Balance at Mar. 31, 2022 | 348 | 645,071 | 276,510 | (253,521) | 668,408 | |||||
Balance at Dec. 31, 2021 | 345 | 646,945 | 280,960 | (255,437) | 672,813 | |||||
Net (Loss) Income | 121,841 | |||||||||
Actuarially Determined Long-Term Liability Adjustments, Net of Tax | 3,049 | |||||||||
Interest Rate Hedge, net | 615 | |||||||||
Comprehensive (Loss) Income | 125,505 | |||||||||
Actuarially Determined Long-Term Liability Adjustments, Tax | 3,049 | |||||||||
Balance at Jun. 30, 2022 | 349 | 646,217 | 402,801 | (251,773) | 797,594 | |||||
Balance at Mar. 31, 2022 | 348 | 645,071 | 276,510 | (253,521) | 668,408 | |||||
Net (Loss) Income | 0 | 0 | 126,291 | 0 | 126,291 | |||||
Actuarially Determined Long-Term Liability Adjustments, Net of Tax | 0 | 0 | 0 | 1,524 | 1,524 | |||||
Interest Rate Hedge, net | 0 | 0 | 0 | 224 | 224 | |||||
Comprehensive (Loss) Income | 0 | 0 | 126,291 | 1,748 | 128,039 | |||||
Issuance of Common Stock | 1 | 0 | 0 | 0 | ||||||
Issuance of Common Stock | (1) | |||||||||
Amortization of Stock-Based Compensation Awards | 0 | 1,269 | 0 | 0 | 1,269 | |||||
Shares Withheld for Taxes | 0 | (122) | 0 | 0 | (122) | |||||
Actuarially Determined Long-Term Liability Adjustments, Tax | 0 | 0 | 0 | 1,524 | 1,524 | |||||
Balance at Jun. 30, 2022 | $ 349 | $ 646,217 | $ 402,801 | $ (251,773) | $ 797,594 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Mar. 31, 2021 | |
Actuarially Determined Long-Term Liability Adjustments, Tax | $ 508 | $ 508 | $ 1,427 | $ 1,164 |
Interest Rate Hedge, Tax | $ 75 | $ 130 | $ 135 | $ 144 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Cash Flows from Operating Activities: | ||||
Net (Loss) Income | $ 126,291 | $ 4,172 | $ 121,841 | $ 30,576 |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | ||||
Depreciation, Depletion and Amortization total | 57,880 | 52,199 | 113,834 | 112,096 |
Gain on Sale of Assets | (6,546) | (10,542) | ||
Stock-Based Compensation | 1,269 | 1,210 | 5,470 | 2,719 |
Amortization of Debt Issuance Costs | 3,980 | 4,331 | ||
Loss (Gain) on Debt Extinguishment | 1,565 | (106) | 3,687 | (789) |
Unrealized Mark-to-Market Loss on Commodity Derivative Instruments | (5,571) | 20,437 | 96,331 | 20,437 |
Deferred Income Taxes | (7,762) | (3,708) | ||
Equity in Earnings of Affiliates | 291 | 312 | ||
Changes in Operating Assets: | ||||
Accounts and Notes Receivable | (33,585) | 45,093 | ||
Inventories | (5,567) | (3,099) | ||
Prepaid Expenses and Other Assets | 6,845 | 6,436 | ||
Changes in Other Assets | (10,356) | (345) | ||
Changes in Operating Liabilities: | ||||
Accounts Payable | 29,053 | (6,995) | ||
Other Operating Liabilities | 31,459 | 2,880 | ||
Changes in Other Liabilities | (2,417) | (26,797) | ||
Net Cash Provided by Operating Activities | 346,558 | 172,605 | ||
Cash Flows from Investing Activities: | ||||
Capital Expenditures | (39,418) | (43,655) | (76,061) | (57,455) |
Proceeds from Sales of Assets | 7,418 | 11,918 | ||
Other Investing Activity | (1,483) | (182) | ||
Net Cash Used in Investing Activities | (70,126) | (45,719) | ||
Cash Flows from Financing Activities: | ||||
Payments on Finance Lease Obligations | (12,086) | (14,625) | ||
Proceeds from Long-Term Debt | 0 | 75,000 | ||
Shares Withheld for Taxes | (6,194) | (2,302) | ||
Debt-Related Financing Fees | 0 | (2,368) | ||
Net Cash (Used in) Provided by Financing Activities | (161,979) | 22,467 | ||
Net Increase in Cash and Cash Equivalents and Restricted Cash | 114,453 | 149,353 | ||
Cash and Cash Equivalents and Restricted Cash at Beginning of Period | 198,206 | 50,850 | ||
Cash and Cash Equivalents and Restricted Cash at End of Period | 312,659 | 200,203 | 312,659 | 200,203 |
Cash and Cash Equivalents | 261,569 | 146,667 | 261,569 | 146,667 |
Restricted Cash - Current | 43,025 | 31,669 | 43,025 | 31,669 |
Restricted Cash - Non-current | 8,065 | 21,867 | 8,065 | 21,867 |
Cash and Cash Equivalents and Restricted Cash at End of Period | $ 312,659 | $ 200,203 | 312,659 | 200,203 |
Non-Cash Investing and Financing Activities: | ||||
Finance Lease | 4,166 | 8,226 | ||
Term Loan A Facility [Member] | ||||
Cash Flows from Financing Activities: | ||||
Payments on Debt | (41,250) | (12,500) | ||
Term Loan B Facility [Member] | ||||
Cash Flows from Financing Activities: | ||||
Payments on Debt | (75,687) | (6,223) | ||
Senior Secured Second Lien Notes due 2025 [Member] | ||||
Cash Flows from Financing Activities: | ||||
Payments on Debt | (26,387) | (14,153) | ||
Other Asset Backed Financing [Member] | ||||
Cash Flows from Financing Activities: | ||||
Payments on Debt | $ (375) | $ (362) |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2022 | |
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 01 X. not three six June 30, 2022 not may The Consolidated Balance Sheet at December 31, 2021 not 10 10 December 31, 2021 All dollar amounts discussed in these Notes to Consolidated Financial Statements are in thousands of U.S. dollars, except for per unit amounts, and unless otherwise indicated. 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. All significant intercompany transactions and accounts have been eliminated in consolidation. Recent Accounting Pronouncements In March 2022, 2022 02 326 310 40, 326 20, December 15, 2022, not In October 2021, 2021 08 805 805 10, 606. not may 606. December 15, 2022, not Earnings per Share Basic earnings per share are computed by dividing net income by the weighted average number of shares outstanding during the reporting period. Dilutive earnings per share are computed similarly to basic earnings per share, except that the weighted average number of shares outstanding is 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, as applicable, 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: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Anti-Dilutive Restricted Stock Units 189 42,321 7,056 51,101 Anti-Dilutive Performance Share Units — — — — 189 42,321 7,056 51,101 The computations for basic and dilutive earnings per share are as follows: Three Months Ended Six Months Ended Dollars in thousands, except per share data June 30, June 30, 2022 2021 2022 2021 Numerator: Net Income $ 126,291 $ 4,172 $ 121,841 $ 30,576 Denominator: Weighted-average shares of common stock outstanding 34,846,037 34,446,605 34,753,887 34,327,282 Effect of dilutive shares 877,437 643,892 897,904 734,388 Weighted-average diluted shares of common stock outstanding 35,723,474 35,090,497 35,651,791 35,061,670 Earnings per Share: Basic $ 3.62 $ 0.12 $ 3.51 $ 0.89 Dilutive $ 3.54 $ 0.12 $ 3.42 $ 0.87 As of June 30, 2022 none Reclassifications Certain amounts in prior periods have been reclassified to conform with the report classifications of the current period. These reclassifications had no |
Note 2 - Revenue from Contracts
Note 2 - Revenue from Contracts with Customers: | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 2—REVENUE The following tables disaggregate 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 June 30, 2022 Domestic Export Total Power Generation $ 203,846 $ 29,594 $ 233,440 Industrial 8,849 156,110 164,959 Metallurgical — 134,293 134,293 Total Coal Revenue 212,695 319,997 532,692 Terminal Revenue 21,779 Freight Revenue 50,411 Total Revenue from Contracts with Customers $ 604,882 Three Months Ended June 30, 2021 Domestic Export Total Power Generation $ 112,410 $ 27,105 $ 139,515 Industrial 3,401 92,663 96,064 Metallurgical 1,350 22,903 24,253 Total Coal Revenue 117,161 142,671 259,832 Terminal Revenue 17,380 Freight Revenue 26,010 Total Revenue from Contracts with Customers $ 303,222 Six Months Ended June 30, 2022 Domestic Export Total Power Generation $ 427,346 $ 150,035 $ 577,381 Industrial 10,794 253,658 264,452 Metallurgical — 167,227 167,227 Total Coal Revenue 438,140 570,920 1,009,060 Terminal Revenue 43,176 Freight Revenue 88,800 Total Revenue from Contracts with Customers $ 1,141,036 Six Months Ended June 30, 2021 Domestic Export Total Power Generation $ 267,720 $ 60,236 $ 327,956 Industrial 6,237 173,237 179,474 Metallurgical 2,420 35,517 37,937 Total Coal Revenue 276,377 268,990 545,367 Terminal Revenue 35,592 Freight Revenue 53,023 Total Revenue from Contracts with Customers $ 633,982 Coal Revenue The Company has disaggregated its coal revenue, derived from the PAMC and Itmann operations, between domestic and export revenues, as well as industrial, power generation and metallurgical markets. Domestic coal revenue tends to be derived from contracts that typically have a term of one CONSOL Energy's coal revenue is generally recognized when the performance obligation has been satisfied, and the corresponding transaction price has been determined. Generally, title passes when coal is loaded at the coal preparation facility, at terminal locations or other customer destinations. The Company's coal contract revenue per ton is fixed and determinable based upon either fixed forward pricing or pricing derived from established indices and adjusted for nominal quality characteristics. 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 and per ton price fluctuations based on certain coal sales price indices. 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, 2022 December 31, 2021 not three six June 30, 2022 2021 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 earned on a ratable basis, and performance obligations are considered fulfilled as the services are performed. The CONSOL Marine Terminal does not one June 30, 2022 December 31, 2021 not three six June 30, 2022 2021 not not not Freight Revenue Some of CONSOL Energy's coal contracts require that the Company sell its coal at locations other than its coal 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. Credit is extended based on an evaluation of a customer's financial condition and a customer's ability to perform its obligations. CONSOL Energy typically does not |
Note 3 - Components of Pension
Note 3 - Components of Pension and Other Post-employment Benefit (OPEB) Plans Net Periodic Benefit Costs: | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | NOTE 3—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, 2022 2021 2022 2021 2022 2021 2022 2021 Service Cost $ 302 $ 279 $ 604 $ 558 $ — $ — $ — $ — Interest Cost 4,134 3,554 8,269 7,104 1,975 1,819 3,949 3,637 Expected Return on Plan Assets (9,319 ) (10,542 ) (18,638 ) (21,084 ) — — — — Amortization of Prior Service Credits — — — — (602 ) (601 ) (1,203 ) (1,202 ) Amortization of Actuarial Loss 761 1,367 1,519 2,734 879 1,629 1,758 3,258 Settlement Loss Recognized — 22 — 22 — — — — Net Periodic Benefit (Credit) Cost $ (4,122 ) $ (5,320 ) $ (8,246 ) $ (10,666 ) $ 2,252 $ 2,847 $ 4,504 $ 5,693 (Credits) expenses related to pension and other post-employment benefits are reflected in Operating and Other Costs in the Consolidated Statements of Income. For the three six June 30, 2021, three six June 30, 2021 June 30, 2021. |
Note 4 - Components of Coal Wor
Note 4 - Components of Coal Workers' Pneumoconiosis (CWP) and Workers' Compensation Net Periodic Benefit Costs: | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Pneumoconiosis Benefits And Workers Compensation Disclosure [Text Block] | NOTE 4—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, 2022 2021 2022 2021 2022 2021 2022 2021 Service Cost $ 726 $ 1,115 $ 1,452 $ 2,230 $ 1,230 $ 1,059 $ 2,460 $ 2,118 Interest Cost 1,265 1,177 2,530 2,355 342 282 684 564 Amortization of Actuarial Loss (Gain) 1,059 2,091 2,119 4,182 (105 ) (45 ) (210 ) (90 ) State Administrative Fees and Insurance Bond Premiums — — — — 448 444 885 912 Net Periodic Benefit Cost $ 3,050 $ 4,383 $ 6,101 $ 8,767 $ 1,915 $ 1,740 $ 3,819 $ 3,504 Expenses related to CWP and workers’ compensation are reflected in Operating and Other Costs in the Consolidated Statements of Income. |
Note 5 - Income Taxes
Note 5 - Income Taxes | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 5—INCOME The Company recorded its provision for income taxes for the three six June 30, 2022 three six June 30, 2022 The provision for income taxes for the three six June 30, 2021 three six June 30, 2021 21% Due to the expectation of taxable income for the year 2022, six June 30, 2022 The Company is subject to taxation in the United States and its various states, as well as Canada and its various provinces. The Company is subject to examination for the tax periods 2018 2021 |
Note 6 - Credit Losses
Note 6 - Credit Losses | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Credit Loss, Financial Instrument [Text Block] | NOTE 6—CREDIT Trade receivables are recorded at the invoiced amount and do not may Other non-trade contractual arrangements consist primarily of overriding royalty agreements and other financial arrangements between the Company and various counterparties. The following table excludes fully reserved receivables associated with certain transactions defined as other non-trade contractual arrangements in the amount of $8,263 at June 30, 2022 December 31, 2021 not June 30, 2022 December 31, 2021 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 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 that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected. Trade Receivables Other Non-Trade Contractual Arrangements Beginning Balance, December 31, 2021 $ 4,597 $ 6,948 Provision for expected credit losses 512 548 Ending Balance, June 30, 2022 $ 5,109 $ 7,496 |
Note 7 - Inventories
Note 7 - Inventories | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 7—INVENTORIES: Inventory components consist of the following: June 30, December 31, 2022 2021 Coal $ 14,974 $ 12,078 Supplies 53,469 50,798 Total Inventories $ 68,443 $ 62,876 Inventories are stated at the lower of cost or net realizable value. The cost of coal inventories is determined by the first first |
Note 8 - Accounts Receivable Se
Note 8 - Accounts Receivable Securitization | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Accounts Receivable Securitization [Text Block] | NOTE 8—ACCOUNTS At June 30, 2022 March 2020, August 30, 2021 March 27, 2023. Pursuant to the securitization facility, CONSOL Thermal Holdings LLC, an indirect, wholly-owned subsidiary of the Company, sells current and future trade receivables to CONSOL Pennsylvania Coal Company LLC, a wholly-owned subsidiary of the Company. CONSOL Marine Terminals LLC, a wholly-owned subsidiary of the Company, 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, a wholly-owned subsidiary of the Company (the “SPV”). The SPV, in turn, pledges its interests in the receivables to PNC Bank, N.A., 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, 2022 June 30, 2022 no December 31, 2021 December 31, 2021 June 30, 2022 December 31, 2021 three six June 30, 2022 three six June 30, 2021 not |
Note 9 - Property, Plant and Eq
Note 9 - Property, Plant and Equipment | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 9—PROPERTY, Property, plant and equipment consists of the following: June 30, December 31, 2022 2021 Plant and Equipment $ 3,279,307 $ 3,209,232 Coal Properties and Surface Lands 884,597 881,551 Airshafts 480,620 473,866 Mine Development 360,225 357,479 Advance Mining Royalties 328,984 328,677 Total Property, Plant and Equipment 5,333,733 5,250,805 Less: Accumulated Depreciation, Depletion and Amortization 3,373,966 3,272,255 Total Property, Plant and Equipment, Net $ 1,959,767 $ 1,978,550 Coal reserves are either owned in fee or controlled 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, 2022 December 31, 2021 June 30, 2022 December 31, 2021 three June 30, 2022 2021 six June 30, 2022 2021 |
Note 10 - Other Accrued Liabili
Note 10 - Other Accrued Liabilities | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 10—OTHER June 30, December 31, 2022 2021 Subsidence Liability $ 99,718 $ 93,871 Accrued Compensation and Benefits 48,810 47,228 Accrued Other Taxes 9,441 8,474 Accrued Interest 8,406 9,042 Other 13,836 16,415 Current Portion of Long-Term Liabilities: Asset Retirement Obligations 27,691 27,400 Postretirement Benefits Other than Pensions 23,265 23,638 Pneumoconiosis Benefits 12,258 12,398 Workers' Compensation 9,663 10,205 Total Other Accrued Liabilities $ 253,088 $ 248,671 |
Note 11 - Long-term Debt
Note 11 - Long-term Debt | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Long-Term Debt [Text Block] | NOTE 11—LONG June 30, December 31, 2022 2021 Debt: Term Loan B due in September 2024 (Principal of $163,590 $239,277 $351 $687 6.17% 4.61% $ 163,239 $ 238,590 11.00% 124,107 149,107 MEDCO Revenue Bonds in Series due September 2025 at 5.75% 102,865 102,865 9.00% 75,000 75,000 Term Loan A due in March 2023 ( 5.25% — 41,250 Other Asset-Backed Financing Arrangements 1,707 2,082 Advance Royalty Commitments ( 8.01% 4,858 4,858 Less: Unamortized Debt Issuance Costs 5,718 9,111 466,058 604,641 Less: Amounts Due in One Year* 4,102 36,589 Long-Term Debt $ 461,956 $ 568,052 * Excludes current portion of Finance Lease Obligations of $22,238 and $20,743 at June 30, 2022 December 31, 2021 Senior Secured Credit Facilities In November 2017, March 28, 2019, June 5, 2020, eight March 29, 2021, April 13, 2021, 1 2 December 31, 2021. 1 3 6 12 June 30, 2023. no may March 28, 2023. June 30, 2022. September 28, 2024. first 1.4 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 (as defined below). The additional conditions require that the Company have no outstanding borrowings and no not 1.00. The Revolving Credit Facility also includes covenants relating to (i) a maximum first first first June 30, 2022, first 1.00, 1.00 1.00. The Company's first 1.00 June 30, 2022 1.00 June 30, 2022 1.00 June 30, 2022 June 30, 2022 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 December 31, 2021, not December 31, 2021. six June 30, 2021 December 31, 2020. At June 30, 2022 December 31, 2021 Second Lien Notes In November 2017, 2025 November 13, 2017, November 28, 2017, second first no The only non-guarantor subsidiary of the Second Lien Notes is the SPV, which holds the assets pledged to the lender in the securitization facility. The SPV had total assets of $137,684 and $104,548, comprised mainly of $137,346 and $104,099 trade receivables, net, at June 30, 2022 December 31, 2021 three June 30, 2022 2021 six June 30, 2022 2021, 10 six June 30, 2022 2021 no 8 During the six June 30, 2022 six June 30, 2021 three June 30, 2022 2021, six June 30, 2022 2021, PEDFA Bonds In April 2021, seven April 1, 2051 April 13, 2028, April 1, 2021, April 1, 2021 April 1, 2021 second The Company started a capital construction project on the PAMC coarse refuse disposal area in 2017, two three six June 30, 2022 June 30, 2022 December 31, 2021 Other Indebtedness The Company is a borrower under an asset-backed financing arrangement related to certain equipment. The equipment, which had an approximate value of $1,707 and $2,082 at June 30, 2022 December 31, 2021 June 30, 2022 September 2024. June 30, 2022 December 31, 2021 During the year ended December 31, 2019, twelve December 31, 2020 2021, twelve December 31, 2022. |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingent Liabilities | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 12—COMMITMENTS 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, 2022 June 30, 2022 not Fitzwater Litigation: April 24, 2017, October 15, 2019, July 15, 2020, August 14, 2020. October 1, 2020, February 2021. No Casey Litigation: August 23, 2017 two not December 1, 2017, March 1, 2018 October 15, 2019, July 15, 2020, August 14, 2020. October 1, 2020, February 2021. No United Mine Workers of America 1992 2013, 1992 ten 1994. 11 October 2019. 1992 “1992 9711 1992 April 30, 2020. May 2, 2020, 1992 “1992 September 16, 2020, September 11, 2020, 1992 March 29, 2022. 1992 Other Matters: July 27, 2021, 1974 2013 1974 2019 no 1974 no Various Company subsidiaries are defendants in certain other legal proceedings arising out of the conduct of the Coal Business prior to the separation and distribution, and the Company is also a defendant in other legal proceedings following the separation and distribution. In the opinion of management, based upon an investigation of these matters and discussion with legal counsel, the ultimate outcome of such other legal proceedings, individually and in the aggregate, is 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 1992 The following is a summary, as of June 30, 2022 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 $ 51,760 $ 51,760 $ — $ — $ — Environmental 398 398 — — — Other 136,574 136,574 — — — Total Letters of Credit $ 188,732 $ 188,732 $ — $ — $ — Surety Bonds: Employee-Related $ 81,524 $ 81,524 $ — $ — $ — Environmental 535,491 484,318 51,173 — — Other 4,394 2,986 1,408 — — Total Surety Bonds $ 621,409 $ 568,828 $ 52,581 $ — $ — 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 13 - Derivatives
Note 13 - Derivatives | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 13—DERIVATIVES Interest Rate Risk Management During the year ended December 31, 2019, 11 Coal Price Risk Management Positions The Company may June 30, 2022 840 300 2022. Tabular Derivatives Disclosures The Company has master netting agreements with all of its counterparties which allow for the settlement of contracts in an asset position with contracts in a liability position in the event of default or termination. Such netting arrangements reduce the Company's credit exposure related to these counterparties to the extent the Company has any liability to such counterparties. For classification purposes, the Company records the net fair value of all the positions with a given counterparty as a net asset or liability in the Consolidated Balance Sheets. The fair value of derivatives reflected in the accompanying Consolidated Balance Sheets are set forth in the table below. June 30, 2022 December 31, 2021 Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Coal Swap Contracts $ 75,822 $ (250,750 ) $ 1,086 $ (53,290 ) Effect of Counterparty Netting (75,822 ) 75,822 (1,086 ) 1,086 Net Derivatives as Classified in the Consolidated Balance Sheets $ — $ (174,928 ) $ — $ (52,204 ) The net amount of liability derivatives is included in Commodity Derivatives in the accompanying Consolidated Balance Sheets. Currently, the Company does not three six June 30, 2022 three six June 30, 2022 three six June 30, 2021 The Company classifies the cash effects of its derivatives within the Cash Flows from Operating Activities section of the Consolidated Statements of Cash Flows. |
Note 14 - Fair Value of Financi
Note 14 - Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2022 | |
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 2 Level Three - Unobservable inputs significant to the fair value measurement supported by little or no 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, 2022 December 31, 2021 Description Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Commodity Derivatives $ — $ (174,928 ) $ — $ — $ (52,204 ) $ — Interest Rate Swaps $ — $ 303 $ — $ — $ (517 ) $ — 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, 2022 December 31, 2021 Carrying Fair Carrying Fair Amount Value Amount Value Long-Term Debt $ 471,776 $ 485,001 $ 613,752 $ 628,431 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, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 15—SEGMENT The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by management to make decisions on and assess performance of the Company’s reportable segments. CONSOL Energy presently consists of two not none not The Company evaluates the performance of its segments utilizing Adjusted EBITDA and various sales and production metrics. Adjusted EBITDA is not may not may not Reportable segment results for the three June 30, 2022 PAMC CONSOL Marine Terminal Other Adjustments and Eliminations Consolidated Coal Revenue $ 518,942 $ — $ 13,750 $ — $ 532,692 Terminal Revenue — 21,779 — — 21,779 Freight Revenue 47,386 — 3,025 — 50,411 Total Revenue from Contracts with Customers $ 566,328 $ 21,779 $ 16,775 $ — $ 604,882 Adjusted EBITDA(a) $ 203,980 $ 15,077 $ (2,718 ) $ — $ 216,339 Segment Assets $ 1,735,635 $ 80,238 $ 904,613 $ — $ 2,720,486 Depreciation, Depletion and Amortization $ 49,465 $ 1,142 $ 7,273 $ — $ 57,880 Capital Expenditures $ 21,673 $ 188 $ 17,557 $ — $ 39,418 (a) Refer to “Reconciliation of Segment Information to Consolidated Amounts” for the reconciliation of Adjusted EBITDA, a non-GAAP measure, to its most directly comparable GAAP measure. Reportable segment results for the three June 30, 2021 PAMC CONSOL Marine Terminal Other Adjustments and Eliminations Consolidated Coal Revenue $ 258,482 $ — $ 1,350 $ — $ 259,832 Terminal Revenue — 17,380 — — 17,380 Freight Revenue 26,010 — — — 26,010 Total Revenue from Contracts with Customers $ 284,492 $ 17,380 $ 1,350 $ — $ 303,222 Adjusted EBITDA(a) $ 78,267 $ 10,965 $ (4,815 ) $ — $ 84,417 Segment Assets $ 1,799,848 $ 104,848 $ 653,235 $ — $ 2,557,931 Depreciation, Depletion and Amortization $ 50,169 $ 1,200 $ 830 $ — $ 52,199 Capital Expenditures $ 39,874 $ 52 $ 3,729 $ — $ 43,655 (a) Refer to “Reconciliation of Segment Information to Consolidated Amounts” for the reconciliation of Adjusted EBITDA, a non-GAAP measure, to its most directly comparable GAAP measure. Reportable segment results for the six June 30, 2022 PAMC CONSOL Marine Terminal Other Adjustments and Eliminations Consolidated Coal Revenue $ 991,903 $ — $ 17,157 $ — $ 1,009,060 Terminal Revenue — 43,176 — — 43,176 Freight Revenue 85,775 — 3,025 — 88,800 Total Revenue from Contracts with Customers $ 1,077,678 $ 43,176 $ 20,182 $ — $ 1,141,036 Adjusted EBITDA(a) $ 362,239 $ 29,554 $ (6,224 ) $ — $ 385,569 Segment Assets $ 1,735,635 $ 80,238 $ 904,613 $ — $ 2,720,486 Depreciation, Depletion and Amortization $ 100,421 $ 2,307 $ 11,106 $ — $ 113,834 Capital Expenditures $ 34,651 $ 360 $ 41,050 $ — $ 76,061 (a) Refer to “Reconciliation of Segment Information to Consolidated Amounts” for the reconciliation of Adjusted EBITDA, a non-GAAP measure, to its most directly comparable GAAP measure. Reportable segment results for the six June 30, 2021 PAMC CONSOL Marine Terminal Other Adjustments and Eliminations Consolidated Coal Revenue $ 542,948 $ — $ 2,419 $ — $ 545,367 Terminal Revenue — 35,592 — — 35,592 Freight Revenue 53,023 — — — 53,023 Total Revenue from Contracts with Customers $ 595,971 $ 35,592 $ 2,419 $ — $ 633,982 Adjusted EBITDA(a) $ 177,451 $ 22,926 $ (9,245 ) $ — $ 191,132 Segment Assets $ 1,799,848 $ 104,848 $ 653,235 $ — $ 2,557,931 Depreciation, Depletion and Amortization $ 104,950 $ 2,414 $ 4,732 $ — $ 112,096 Capital Expenditures $ 52,453 $ 112 $ 4,890 $ — $ 57,455 (a) Refer to “Reconciliation of Segment Information to Consolidated Amounts” for the reconciliation of Adjusted EBITDA, a non-GAAP measure, to its most directly comparable GAAP measure. For the three six June 30, 2022 2021 10% Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Customer A $ 124,469 $ 40,996 $ 211,055 * Customer B $ 67,174 $ 44,346 * $ 83,345 Customer C $ 64,874 $ 32,236 $ 131,164 $ 89,916 Customer D * $ 49,752 * $ 112,321 Customer E * $ 34,439 * $ 71,038 *Revenues from these customers during the periods presented were less than 10% Reconciliation of Segment Information to Consolidated Amounts Adjusted EBITDA is a non-GAAP measure and is presented in the following tables to reconcile the segment operating performance measure to its most directly comparable GAAP measure, Net Income (Loss). Three Months Ended June 30, 2022 PAMC CONSOL Marine Terminal Other Total Company Net Income (Loss) $ 159,404 $ 12,354 $ (45,467 ) $ 126,291 Add: Income Tax Expense — — 23,223 23,223 Add: Interest Expense, net 68 1,530 11,523 13,121 Less: Interest Income (452 ) — (987 ) (1,439 ) Earnings (Loss) Before Interest & Taxes (EBIT) 159,020 13,884 (11,708 ) 161,196 Add: Depreciation, Depletion & Amortization 49,465 1,142 7,273 57,880 Earnings (Loss) Before Interest, Taxes and DD&A (EBITDA) $ 208,485 $ 15,026 $ (4,435 ) $ 219,076 Adjustments: Stock-Based Compensation $ 1,066 $ 51 $ 152 $ 1,269 Loss on Debt Extinguishment — — 1,565 1,565 Unrealized Mark-to-Market Gain on Commodity Derivative Instruments (5,571 ) — — (5,571 ) Total Pre-tax Adjustments (4,505 ) 51 1,717 (2,737 ) Adjusted EBITDA $ 203,980 $ 15,077 $ (2,718 ) $ 216,339 Three Months Ended June 30, 2021 PAMC CONSOL Marine Terminal Other Total Company Net Income (Loss) $ 6,166 $ 8,181 $ (10,175 ) $ 4,172 Less: Income Tax Benefit — — (8,893 ) (8,893 ) Add: Interest Expense, net 478 1,536 14,173 16,187 Less: Interest Income (36 ) — (775 ) (811 ) Earnings (Loss) Before Interest & Taxes (EBIT) 6,608 9,717 (5,670 ) 10,655 Add: Depreciation, Depletion & Amortization 50,169 1,200 830 52,199 Earnings (Loss) Before Interest, Taxes and DD&A (EBITDA) $ 56,777 $ 10,917 $ (4,840 ) $ 62,854 Adjustments: Stock-Based Compensation $ 1,053 $ 48 $ 109 $ 1,210 Gain on Debt Extinguishment — — (106 ) (106 ) Pension Settlement — — 22 22 Unrealized Mark-to-Market Loss on Commodity Derivative Instruments 20,437 — — 20,437 Total Pre-tax Adjustments 21,490 48 25 21,563 Adjusted EBITDA $ 78,267 $ 10,965 $ (4,815 ) $ 84,417 Six Months Ended June 30, 2022 PAMC CONSOL Marine Terminal Other Total Company Net Income (Loss) $ 161,501 $ 23,967 $ (63,627 ) $ 121,841 Add: Income Tax Expense — — 19,701 19,701 Add: Interest Expense, net 257 3,061 24,155 27,473 Less: Interest Income (866 ) — (1,902 ) (2,768 ) Earnings (Loss) Before Interest & Taxes (EBIT) 160,892 27,028 (21,673 ) 166,247 Add: Depreciation, Depletion & Amortization 100,421 2,307 11,106 113,834 Earnings (Loss) Before Interest, Taxes and DD&A (EBITDA) $ 261,313 $ 29,335 $ (10,567 ) $ 280,081 Adjustments: Stock-Based Compensation $ 4,595 $ 219 $ 656 $ 5,470 Loss on Debt Extinguishment — — 3,687 3,687 Unrealized Mark-Market Loss on Commodity Derivative Instruments 96,331 — — 96,331 Total Pre-tax Adjustments 100,926 219 4,343 105,488 Adjusted EBITDA $ 362,239 $ 29,554 $ (6,224 ) $ 385,569 Six Months Ended June 30, 2021 PAMC CONSOL Marine Terminal Other Total Company Net Income (Loss) $ 48,616 $ 17,330 $ (35,370 ) $ 30,576 Less: Income Tax Benefit — — (3,708 ) (3,708 ) Add: Interest Expense, net 1,120 3,073 27,255 31,448 Less: Interest Income (36 ) — (1,633 ) (1,669 ) Earnings (Loss) Before Interest & Taxes (EBIT) 49,700 20,403 (13,456 ) 56,647 Add: Depreciation, Depletion & Amortization 104,950 2,414 4,732 112,096 Earnings (Loss) Before Interest, Taxes and DD&A (EBITDA) $ 154,650 $ 22,817 $ (8,724 ) $ 168,743 Adjustments: Stock-Based Compensation $ 2,364 $ 109 $ 246 $ 2,719 Gain on Debt Extinguishment — — (789 ) (789 ) Pension Settlement — — 22 22 Unrealized Mark-to-Market Loss on Commodity Derivative Instruments 20,437 — — 20,437 Total Pre-tax Adjustments 22,801 109 (521 ) 22,389 Adjusted EBITDA $ 177,451 $ 22,926 $ (9,245 ) $ 191,132 |
Note 16 - Stock and Debt Repurc
Note 16 - Stock and Debt Repurchases | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 16—STOCK In December 2017, August 2022 December 31, 2024. 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, 2022 2021 and spent $14,153 to retire $15,190 No six June 30, 2022 2021 |
Note 17 - Subsequent Events
Note 17 - Subsequent Events | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 17—SUBSEQUENT During July 2022, four three March 2023. July 2026. July 2025. On August 1, 2022, third 2022 On August 1, 2022, December 31, 2022 December 31, 2024. August 4, 2022 On August 4, 2022, $1.00/share second 2022 August 24, 2022 August 16, 2022. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
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 01 X. not three six June 30, 2022 not may The Consolidated Balance Sheet at December 31, 2021 not 10 10 December 31, 2021 All dollar amounts discussed in these Notes to Consolidated Financial Statements are in thousands of U.S. dollars, except for per unit amounts, and unless otherwise indicated. |
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. All significant intercompany transactions and accounts have been eliminated in consolidation. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In March 2022, 2022 02 326 310 40, 326 20, December 15, 2022, not In October 2021, 2021 08 805 805 10, 606. not may 606. December 15, 2022, not |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Share Basic earnings per share are computed by dividing net income by the weighted average number of shares outstanding during the reporting period. Dilutive earnings per share are computed similarly to basic earnings per share, except that the weighted average number of shares outstanding is 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, as applicable, 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: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Anti-Dilutive Restricted Stock Units 189 42,321 7,056 51,101 Anti-Dilutive Performance Share Units — — — — 189 42,321 7,056 51,101 The computations for basic and dilutive earnings per share are as follows: Three Months Ended Six Months Ended Dollars in thousands, except per share data June 30, June 30, 2022 2021 2022 2021 Numerator: Net Income $ 126,291 $ 4,172 $ 121,841 $ 30,576 Denominator: Weighted-average shares of common stock outstanding 34,846,037 34,446,605 34,753,887 34,327,282 Effect of dilutive shares 877,437 643,892 897,904 734,388 Weighted-average diluted shares of common stock outstanding 35,723,474 35,090,497 35,651,791 35,061,670 Earnings per Share: Basic $ 3.62 $ 0.12 $ 3.51 $ 0.89 Dilutive $ 3.54 $ 0.12 $ 3.42 $ 0.87 As of June 30, 2022 none |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications Certain amounts in prior periods have been reclassified to conform with the report classifications of the current period. These reclassifications had no |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Anti-Dilutive Restricted Stock Units 189 42,321 7,056 51,101 Anti-Dilutive Performance Share Units — — — — 189 42,321 7,056 51,101 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended Dollars in thousands, except per share data June 30, June 30, 2022 2021 2022 2021 Numerator: Net Income $ 126,291 $ 4,172 $ 121,841 $ 30,576 Denominator: Weighted-average shares of common stock outstanding 34,846,037 34,446,605 34,753,887 34,327,282 Effect of dilutive shares 877,437 643,892 897,904 734,388 Weighted-average diluted shares of common stock outstanding 35,723,474 35,090,497 35,651,791 35,061,670 Earnings per Share: Basic $ 3.62 $ 0.12 $ 3.51 $ 0.89 Dilutive $ 3.54 $ 0.12 $ 3.42 $ 0.87 |
Note 2 - Revenue from Contrac_2
Note 2 - Revenue from Contracts with Customers: (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended June 30, 2022 Domestic Export Total Power Generation $ 203,846 $ 29,594 $ 233,440 Industrial 8,849 156,110 164,959 Metallurgical — 134,293 134,293 Total Coal Revenue 212,695 319,997 532,692 Terminal Revenue 21,779 Freight Revenue 50,411 Total Revenue from Contracts with Customers $ 604,882 Three Months Ended June 30, 2021 Domestic Export Total Power Generation $ 112,410 $ 27,105 $ 139,515 Industrial 3,401 92,663 96,064 Metallurgical 1,350 22,903 24,253 Total Coal Revenue 117,161 142,671 259,832 Terminal Revenue 17,380 Freight Revenue 26,010 Total Revenue from Contracts with Customers $ 303,222 Six Months Ended June 30, 2022 Domestic Export Total Power Generation $ 427,346 $ 150,035 $ 577,381 Industrial 10,794 253,658 264,452 Metallurgical — 167,227 167,227 Total Coal Revenue 438,140 570,920 1,009,060 Terminal Revenue 43,176 Freight Revenue 88,800 Total Revenue from Contracts with Customers $ 1,141,036 Six Months Ended June 30, 2021 Domestic Export Total Power Generation $ 267,720 $ 60,236 $ 327,956 Industrial 6,237 173,237 179,474 Metallurgical 2,420 35,517 37,937 Total Coal Revenue 276,377 268,990 545,367 Terminal Revenue 35,592 Freight Revenue 53,023 Total Revenue from Contracts with Customers $ 633,982 |
Note 3 - Components of Pensio_2
Note 3 - Components of Pension and Other Post-employment Benefit (OPEB) Plans Net Periodic Benefit Costs: (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
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, 2022 2021 2022 2021 2022 2021 2022 2021 Service Cost $ 302 $ 279 $ 604 $ 558 $ — $ — $ — $ — Interest Cost 4,134 3,554 8,269 7,104 1,975 1,819 3,949 3,637 Expected Return on Plan Assets (9,319 ) (10,542 ) (18,638 ) (21,084 ) — — — — Amortization of Prior Service Credits — — — — (602 ) (601 ) (1,203 ) (1,202 ) Amortization of Actuarial Loss 761 1,367 1,519 2,734 879 1,629 1,758 3,258 Settlement Loss Recognized — 22 — 22 — — — — Net Periodic Benefit (Credit) Cost $ (4,122 ) $ (5,320 ) $ (8,246 ) $ (10,666 ) $ 2,252 $ 2,847 $ 4,504 $ 5,693 |
Note 4 - Components of Coal W_2
Note 4 - Components of Coal Workers' Pneumoconiosis (CWP) and Workers' Compensation Net Periodic Benefit Costs: (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
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, 2022 2021 2022 2021 2022 2021 2022 2021 Service Cost $ 726 $ 1,115 $ 1,452 $ 2,230 $ 1,230 $ 1,059 $ 2,460 $ 2,118 Interest Cost 1,265 1,177 2,530 2,355 342 282 684 564 Amortization of Actuarial Loss (Gain) 1,059 2,091 2,119 4,182 (105 ) (45 ) (210 ) (90 ) State Administrative Fees and Insurance Bond Premiums — — — — 448 444 885 912 Net Periodic Benefit Cost $ 3,050 $ 4,383 $ 6,101 $ 8,767 $ 1,915 $ 1,740 $ 3,819 $ 3,504 |
Note 6 - Credit Losses (Tables)
Note 6 - Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Accounts Receivable, Allowance for Credit Loss [Table Text Block] | Trade Receivables Other Non-Trade Contractual Arrangements Beginning Balance, December 31, 2021 $ 4,597 $ 6,948 Provision for expected credit losses 512 548 Ending Balance, June 30, 2022 $ 5,109 $ 7,496 |
Note 7 - Inventories (Tables)
Note 7 - Inventories (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, December 31, 2022 2021 Coal $ 14,974 $ 12,078 Supplies 53,469 50,798 Total Inventories $ 68,443 $ 62,876 |
Note 9 - Property, Plant and _2
Note 9 - Property, Plant and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, December 31, 2022 2021 Plant and Equipment $ 3,279,307 $ 3,209,232 Coal Properties and Surface Lands 884,597 881,551 Airshafts 480,620 473,866 Mine Development 360,225 357,479 Advance Mining Royalties 328,984 328,677 Total Property, Plant and Equipment 5,333,733 5,250,805 Less: Accumulated Depreciation, Depletion and Amortization 3,373,966 3,272,255 Total Property, Plant and Equipment, Net $ 1,959,767 $ 1,978,550 |
Note 10 - Other Accrued Liabi_2
Note 10 - Other Accrued Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, December 31, 2022 2021 Subsidence Liability $ 99,718 $ 93,871 Accrued Compensation and Benefits 48,810 47,228 Accrued Other Taxes 9,441 8,474 Accrued Interest 8,406 9,042 Other 13,836 16,415 Current Portion of Long-Term Liabilities: Asset Retirement Obligations 27,691 27,400 Postretirement Benefits Other than Pensions 23,265 23,638 Pneumoconiosis Benefits 12,258 12,398 Workers' Compensation 9,663 10,205 Total Other Accrued Liabilities $ 253,088 $ 248,671 |
Note 11 - Long-term Debt (Table
Note 11 - Long-term Debt (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Long-Term Debt Instruments [Table Text Block] | June 30, December 31, 2022 2021 Debt: Term Loan B due in September 2024 (Principal of $163,590 $239,277 $351 $687 6.17% 4.61% $ 163,239 $ 238,590 11.00% 124,107 149,107 MEDCO Revenue Bonds in Series due September 2025 at 5.75% 102,865 102,865 9.00% 75,000 75,000 Term Loan A due in March 2023 ( 5.25% — 41,250 Other Asset-Backed Financing Arrangements 1,707 2,082 Advance Royalty Commitments ( 8.01% 4,858 4,858 Less: Unamortized Debt Issuance Costs 5,718 9,111 466,058 604,641 Less: Amounts Due in One Year* 4,102 36,589 Long-Term Debt $ 461,956 $ 568,052 |
Note 12 - Commitments and Con_2
Note 12 - Commitments and Contingent Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
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 $ 51,760 $ 51,760 $ — $ — $ — Environmental 398 398 — — — Other 136,574 136,574 — — — Total Letters of Credit $ 188,732 $ 188,732 $ — $ — $ — Surety Bonds: Employee-Related $ 81,524 $ 81,524 $ — $ — $ — Environmental 535,491 484,318 51,173 — — Other 4,394 2,986 1,408 — — Total Surety Bonds $ 621,409 $ 568,828 $ 52,581 $ — $ — |
Note 13 - Derivatives (Tables)
Note 13 - Derivatives (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | June 30, 2022 December 31, 2021 Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Coal Swap Contracts $ 75,822 $ (250,750 ) $ 1,086 $ (53,290 ) Effect of Counterparty Netting (75,822 ) 75,822 (1,086 ) 1,086 Net Derivatives as Classified in the Consolidated Balance Sheets $ — $ (174,928 ) $ — $ (52,204 ) |
Note 14 - Fair Value of Finan_2
Note 14 - Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at Fair Value Measurements at June 30, 2022 December 31, 2021 Description Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Commodity Derivatives $ — $ (174,928 ) $ — $ — $ (52,204 ) $ — Interest Rate Swaps $ — $ 303 $ — $ — $ (517 ) $ — |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block] | June 30, 2022 December 31, 2021 Carrying Fair Carrying Fair Amount Value Amount Value Long-Term Debt $ 471,776 $ 485,001 $ 613,752 $ 628,431 |
Note 15 - Segment Information (
Note 15 - Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | PAMC CONSOL Marine Terminal Other Adjustments and Eliminations Consolidated Coal Revenue $ 518,942 $ — $ 13,750 $ — $ 532,692 Terminal Revenue — 21,779 — — 21,779 Freight Revenue 47,386 — 3,025 — 50,411 Total Revenue from Contracts with Customers $ 566,328 $ 21,779 $ 16,775 $ — $ 604,882 Adjusted EBITDA(a) $ 203,980 $ 15,077 $ (2,718 ) $ — $ 216,339 Segment Assets $ 1,735,635 $ 80,238 $ 904,613 $ — $ 2,720,486 Depreciation, Depletion and Amortization $ 49,465 $ 1,142 $ 7,273 $ — $ 57,880 Capital Expenditures $ 21,673 $ 188 $ 17,557 $ — $ 39,418 PAMC CONSOL Marine Terminal Other Adjustments and Eliminations Consolidated Coal Revenue $ 258,482 $ — $ 1,350 $ — $ 259,832 Terminal Revenue — 17,380 — — 17,380 Freight Revenue 26,010 — — — 26,010 Total Revenue from Contracts with Customers $ 284,492 $ 17,380 $ 1,350 $ — $ 303,222 Adjusted EBITDA(a) $ 78,267 $ 10,965 $ (4,815 ) $ — $ 84,417 Segment Assets $ 1,799,848 $ 104,848 $ 653,235 $ — $ 2,557,931 Depreciation, Depletion and Amortization $ 50,169 $ 1,200 $ 830 $ — $ 52,199 Capital Expenditures $ 39,874 $ 52 $ 3,729 $ — $ 43,655 PAMC CONSOL Marine Terminal Other Adjustments and Eliminations Consolidated Coal Revenue $ 991,903 $ — $ 17,157 $ — $ 1,009,060 Terminal Revenue — 43,176 — — 43,176 Freight Revenue 85,775 — 3,025 — 88,800 Total Revenue from Contracts with Customers $ 1,077,678 $ 43,176 $ 20,182 $ — $ 1,141,036 Adjusted EBITDA(a) $ 362,239 $ 29,554 $ (6,224 ) $ — $ 385,569 Segment Assets $ 1,735,635 $ 80,238 $ 904,613 $ — $ 2,720,486 Depreciation, Depletion and Amortization $ 100,421 $ 2,307 $ 11,106 $ — $ 113,834 Capital Expenditures $ 34,651 $ 360 $ 41,050 $ — $ 76,061 PAMC CONSOL Marine Terminal Other Adjustments and Eliminations Consolidated Coal Revenue $ 542,948 $ — $ 2,419 $ — $ 545,367 Terminal Revenue — 35,592 — — 35,592 Freight Revenue 53,023 — — — 53,023 Total Revenue from Contracts with Customers $ 595,971 $ 35,592 $ 2,419 $ — $ 633,982 Adjusted EBITDA(a) $ 177,451 $ 22,926 $ (9,245 ) $ — $ 191,132 Segment Assets $ 1,799,848 $ 104,848 $ 653,235 $ — $ 2,557,931 Depreciation, Depletion and Amortization $ 104,950 $ 2,414 $ 4,732 $ — $ 112,096 Capital Expenditures $ 52,453 $ 112 $ 4,890 $ — $ 57,455 |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Customer A $ 124,469 $ 40,996 $ 211,055 * Customer B $ 67,174 $ 44,346 * $ 83,345 Customer C $ 64,874 $ 32,236 $ 131,164 $ 89,916 Customer D * $ 49,752 * $ 112,321 Customer E * $ 34,439 * $ 71,038 |
Schedule of Adjusted EBITDA [Table Text Block] | Three Months Ended June 30, 2022 PAMC CONSOL Marine Terminal Other Total Company Net Income (Loss) $ 159,404 $ 12,354 $ (45,467 ) $ 126,291 Add: Income Tax Expense — — 23,223 23,223 Add: Interest Expense, net 68 1,530 11,523 13,121 Less: Interest Income (452 ) — (987 ) (1,439 ) Earnings (Loss) Before Interest & Taxes (EBIT) 159,020 13,884 (11,708 ) 161,196 Add: Depreciation, Depletion & Amortization 49,465 1,142 7,273 57,880 Earnings (Loss) Before Interest, Taxes and DD&A (EBITDA) $ 208,485 $ 15,026 $ (4,435 ) $ 219,076 Adjustments: Stock-Based Compensation $ 1,066 $ 51 $ 152 $ 1,269 Loss on Debt Extinguishment — — 1,565 1,565 Unrealized Mark-to-Market Gain on Commodity Derivative Instruments (5,571 ) — — (5,571 ) Total Pre-tax Adjustments (4,505 ) 51 1,717 (2,737 ) Adjusted EBITDA $ 203,980 $ 15,077 $ (2,718 ) $ 216,339 Three Months Ended June 30, 2021 PAMC CONSOL Marine Terminal Other Total Company Net Income (Loss) $ 6,166 $ 8,181 $ (10,175 ) $ 4,172 Less: Income Tax Benefit — — (8,893 ) (8,893 ) Add: Interest Expense, net 478 1,536 14,173 16,187 Less: Interest Income (36 ) — (775 ) (811 ) Earnings (Loss) Before Interest & Taxes (EBIT) 6,608 9,717 (5,670 ) 10,655 Add: Depreciation, Depletion & Amortization 50,169 1,200 830 52,199 Earnings (Loss) Before Interest, Taxes and DD&A (EBITDA) $ 56,777 $ 10,917 $ (4,840 ) $ 62,854 Adjustments: Stock-Based Compensation $ 1,053 $ 48 $ 109 $ 1,210 Gain on Debt Extinguishment — — (106 ) (106 ) Pension Settlement — — 22 22 Unrealized Mark-to-Market Loss on Commodity Derivative Instruments 20,437 — — 20,437 Total Pre-tax Adjustments 21,490 48 25 21,563 Adjusted EBITDA $ 78,267 $ 10,965 $ (4,815 ) $ 84,417 Six Months Ended June 30, 2022 PAMC CONSOL Marine Terminal Other Total Company Net Income (Loss) $ 161,501 $ 23,967 $ (63,627 ) $ 121,841 Add: Income Tax Expense — — 19,701 19,701 Add: Interest Expense, net 257 3,061 24,155 27,473 Less: Interest Income (866 ) — (1,902 ) (2,768 ) Earnings (Loss) Before Interest & Taxes (EBIT) 160,892 27,028 (21,673 ) 166,247 Add: Depreciation, Depletion & Amortization 100,421 2,307 11,106 113,834 Earnings (Loss) Before Interest, Taxes and DD&A (EBITDA) $ 261,313 $ 29,335 $ (10,567 ) $ 280,081 Adjustments: Stock-Based Compensation $ 4,595 $ 219 $ 656 $ 5,470 Loss on Debt Extinguishment — — 3,687 3,687 Unrealized Mark-Market Loss on Commodity Derivative Instruments 96,331 — — 96,331 Total Pre-tax Adjustments 100,926 219 4,343 105,488 Adjusted EBITDA $ 362,239 $ 29,554 $ (6,224 ) $ 385,569 Six Months Ended June 30, 2021 PAMC CONSOL Marine Terminal Other Total Company Net Income (Loss) $ 48,616 $ 17,330 $ (35,370 ) $ 30,576 Less: Income Tax Benefit — — (3,708 ) (3,708 ) Add: Interest Expense, net 1,120 3,073 27,255 31,448 Less: Interest Income (36 ) — (1,633 ) (1,669 ) Earnings (Loss) Before Interest & Taxes (EBIT) 49,700 20,403 (13,456 ) 56,647 Add: Depreciation, Depletion & Amortization 104,950 2,414 4,732 112,096 Earnings (Loss) Before Interest, Taxes and DD&A (EBITDA) $ 154,650 $ 22,817 $ (8,724 ) $ 168,743 Adjustments: Stock-Based Compensation $ 2,364 $ 109 $ 246 $ 2,719 Gain on Debt Extinguishment — — (789 ) (789 ) Pension Settlement — — 22 22 Unrealized Mark-to-Market Loss on Commodity Derivative Instruments 20,437 — — 20,437 Total Pre-tax Adjustments 22,801 109 (521 ) 22,389 Adjusted EBITDA $ 177,451 $ 22,926 $ (9,245 ) $ 191,132 |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation (Details Textual) | Jun. 30, 2022 shares |
Preferred Stock, Shares Authorized (in shares) | 500,000 |
Preferred Stock, Shares Issued (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, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Antidilutive securities excluded from calculation of earnings per share (in shares) | 189 | 42,321 | 7,056 | 51,101 |
Restricted Stock Units (RSUs) [Member] | ||||
Antidilutive securities excluded from calculation of earnings per share (in shares) | 189 | 42,321 | 7,056 | 51,101 |
Performance Shares [Member] | ||||
Antidilutive securities excluded from calculation of earnings per share (in shares) | 0 | 0 | 0 | 0 |
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, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | ||
Net (Loss) Income | $ 126,291 | $ (4,450) | $ 4,172 | $ 26,404 | $ 121,841 | $ 30,576 | |
Weighted-average shares of common stock outstanding (in shares) | 34,846,037 | 34,446,605 | 34,753,887 | 34,327,282 | |||
Effect of dilutive shares (in shares) | [1] | 877,437 | 643,892 | 897,904 | 734,388 | ||
Weighted-average diluted shares of common stock outstanding (in shares) | 35,723,474 | 35,090,497 | 35,651,791 | 35,061,670 | |||
Basic (in dollars per share) | $ 3.62 | $ 0.12 | $ 3.51 | $ 0.89 | |||
Dilutive (in dollars per share) | $ 3.54 | $ 0.12 | $ 3.42 | $ 0.87 | |||
[1]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. |
Note 2 - Revenue from Contrac_3
Note 2 - Revenue from Contracts with Customers: (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Coal [Member] | |||||
Capitalized Contract Cost, Net, Total | $ 0 | $ 0 | $ 0 | ||
Capitalized Contract Cost, Amortization | 0 | $ 0 | 0 | $ 0 | |
CONSOL Marine Terminal [Member] | |||||
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 from Contrac_4
Note 2 - Revenue from Contracts with Customers:- Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Total Revenue from Contracts with Customers | $ 604,882 | $ 303,222 | $ 1,141,036 | $ 633,982 |
Domestic Coal Revenue [Member] | ||||
Total Revenue from Contracts with Customers | 212,695 | 117,161 | 438,140 | 276,377 |
Export Coal Revenue [Member] | ||||
Total Revenue from Contracts with Customers | 319,997 | 142,671 | 570,920 | 268,990 |
Coal [Member] | ||||
Total Revenue from Contracts with Customers | 532,692 | 259,832 | 1,009,060 | 545,367 |
Terminal Revenue [Member] | ||||
Total Revenue from Contracts with Customers | 21,779 | 17,380 | 43,176 | 35,592 |
Freight Revenue [Member] | ||||
Total Revenue from Contracts with Customers | 50,411 | 26,010 | 88,800 | 53,023 |
Power Generated, Coal [Member] | Domestic Coal Revenue [Member] | ||||
Total Revenue from Contracts with Customers | 203,846 | 112,410 | 427,346 | 267,720 |
Power Generated, Coal [Member] | Export Coal Revenue [Member] | ||||
Total Revenue from Contracts with Customers | 29,594 | 27,105 | 150,035 | 60,236 |
Power Generated, Coal [Member] | Coal [Member] | ||||
Total Revenue from Contracts with Customers | 233,440 | 139,515 | 577,381 | 327,956 |
Industrial, Coal [Member] | Domestic Coal Revenue [Member] | ||||
Total Revenue from Contracts with Customers | 8,849 | 3,401 | 10,794 | 6,237 |
Industrial, Coal [Member] | Export Coal Revenue [Member] | ||||
Total Revenue from Contracts with Customers | 156,110 | 92,663 | 253,658 | 173,237 |
Industrial, Coal [Member] | Coal [Member] | ||||
Total Revenue from Contracts with Customers | 164,959 | 96,064 | 264,452 | 179,474 |
Metallurgical, Coal [Member] | Domestic Coal Revenue [Member] | ||||
Total Revenue from Contracts with Customers | 0 | 1,350 | 0 | 2,420 |
Metallurgical, Coal [Member] | Export Coal Revenue [Member] | ||||
Total Revenue from Contracts with Customers | 134,293 | 22,903 | 167,227 | 35,517 |
Metallurgical, Coal [Member] | Coal [Member] | ||||
Total Revenue from Contracts with Customers | $ 134,293 | $ 24,253 | $ 167,227 | $ 37,937 |
Note 3 - Components of Pensio_3
Note 3 - Components of Pension and Other Post-employment Benefit (OPEB) Plans Net Periodic Benefit Costs: (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2021 | Jun. 30, 2021 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | $ (22) | $ (22) |
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), after Tax | 766 | |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Plan Amendments, Tax Effect, Total | 265 | |
Commodity Contract [Member] | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | $ 22 | |
Pension Plan [Member] | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | $ 22 |
Note 3 - Components of Pensio_4
Note 3 - 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, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Pension Settlement | $ 22 | $ 22 | ||
Pension Plan [Member] | ||||
Service Cost | $ 302 | 279 | $ 604 | 558 |
Interest Cost | 4,134 | 3,554 | 8,269 | 7,104 |
Expected Return on Plan Assets | (9,319) | (10,542) | (18,638) | (21,084) |
Amortization of Prior Service Credits | 0 | 0 | 0 | 0 |
Amortization of Actuarial Loss | 761 | 1,367 | 1,519 | 2,734 |
Pension Settlement | 0 | 22 | 0 | 22 |
Net Periodic Benefit (Credit) Cost | (4,122) | (5,320) | (8,246) | (10,666) |
Other Postretirement Benefits Plan [Member] | ||||
Service Cost | 0 | 0 | 0 | 0 |
Interest Cost | 1,975 | 1,819 | 3,949 | 3,637 |
Expected Return on Plan Assets | 0 | 0 | 0 | 0 |
Amortization of Prior Service Credits | (602) | (601) | (1,203) | (1,202) |
Amortization of Actuarial Loss | 879 | 1,629 | 1,758 | 3,258 |
Pension Settlement | 0 | 0 | 0 | 0 |
Net Periodic Benefit (Credit) Cost | $ 2,252 | $ 2,847 | $ 4,504 | $ 5,693 |
Note 4 - Components of Coal W_3
Note 4 - Components of Coal Workers' Pneumoconiosis (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, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Coal Workers Pneumoconiosis [Member] | ||||
Service Cost | $ 726 | $ 1,115 | $ 1,452 | $ 2,230 |
Interest Cost | 1,265 | 1,177 | 2,530 | 2,355 |
Amortization of Actuarial Loss | 1,059 | 2,091 | 2,119 | 4,182 |
State Administrative Fees and Insurance Bond Premiums | 0 | 0 | 0 | 0 |
Net Periodic Benefit (Credit) Cost | 3,050 | 4,383 | 6,101 | 8,767 |
Workers Compensation [Member] | ||||
Service Cost | 1,230 | 1,059 | 2,460 | 2,118 |
Interest Cost | 342 | 282 | 684 | 564 |
Amortization of Actuarial Loss | (105) | (45) | (210) | (90) |
State Administrative Fees and Insurance Bond Premiums | 448 | 444 | 885 | 912 |
Net Periodic Benefit (Credit) Cost | $ 1,915 | $ 1,740 | $ 3,819 | $ 3,504 |
Note 5 - Income Taxes (Details
Note 5 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Income Tax Expense (Benefit), Total | $ 23,223 | $ (8,893) | $ 19,701 | $ (3,708) |
Effective Income Tax Rate Reconciliation, Percent, Total | 15.50% | 188.30% | 13.90% | 13.80% |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | 21% | 21% | |
Open Tax Year | 2018 2019 2020 2021 | |||
Maximum [Member] | ||||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | (1.00%) |
Note 6 - Credit Losses (Details
Note 6 - Credit Losses (Details Textual) - Other Non-trade Contractual Arrangements [Member] - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Accounts Receivable, before Allowance for Credit Loss | $ 8,263 | $ 8,263 |
Other Receivables [Member] | ||
Allowance for Credit Loss, Receivable, Other, Current | 12,469 | 12,329 |
Other Noncurrent Assets [Member] | ||
Allowance for Credit Loss, Receivable, Other, Noncurrent | $ 3,290 | $ 2,882 |
Note 6 - Credit Losses - Allowa
Note 6 - Credit Losses - Allowance for Credit Losses by Portfolio (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Trade Accounts Receivable [Member] | |
Beginning Balance | $ 4,597 |
Provision for expected credit losses | 512 |
Beginning Balance | 5,109 |
Other Non-trade Contractual Arrangements [Member] | |
Beginning Balance | 6,948 |
Provision for expected credit losses | 548 |
Beginning Balance | $ 7,496 |
Note 7 - Inventories - Inventor
Note 7 - Inventories - Inventories (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Coal | $ 14,974 | $ 12,078 |
Supplies | 53,469 | 50,798 |
Total Inventories | $ 68,443 | $ 62,876 |
Note 8 - Accounts Receivable _2
Note 8 - Accounts Receivable Securitization (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Payments of Financing Costs, Total | $ 0 | $ 2,368 | |||
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 | 31,105 | $ 31,105 | $ 21,649 | ||
Line of Credit Facility, Fair Value of Amount Outstanding | 0 | 0 | 0 | ||
Letters of Credit Outstanding, Amount | 31,231 | 31,231 | 21,806 | ||
Debt Instrument, Collateral Amount | 126 | 126 | 157 | ||
Line of Credit Facility, Remaining Borrowing Capacity | 0 | ||||
Payments of Financing Costs, Total | 341 | $ 257 | 616 | $ 518 | |
Line of Credit [Member] | Accounts Receivable Securitization Facility [Member] | Restricted Cash, Current [Member] | |||||
Debt Instrument, Collateral Amount | $ 126 | $ 126 | $ 157 | ||
Line of Credit [Member] | Accounts Receivable Securitization Facility [Member] | Minimum [Member] | |||||
Line of Credit Facility, Commitment Fee Percentage | 2% | ||||
Line of Credit [Member] | Accounts Receivable Securitization Facility [Member] | Maximum [Member] | |||||
Line of Credit Facility, Commitment Fee Percentage | 2.50% |
Note 9 - Property, Plant and _3
Note 9 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Finance Lease, Right-of-Use Asset, before Accumulated Amortization | $ 80,273 | $ 80,273 | $ 80,232 | ||
Finance Lease, Right-of-Use Asset, Accumulated Amortization | 41,923 | 41,923 | $ 34,036 | ||
Finance Lease, Right-of-Use Asset, Amortization | $ 5,868 | $ 6,428 | $ 12,098 | $ 15,047 |
Note 9 - Property, Plant and _4
Note 9 - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Total Property, Plant and Equipment | $ 5,333,733 | $ 5,250,805 |
Less: Accumulated Depreciation, Depletion and Amortization | 3,373,966 | 3,272,255 |
Total Property, Plant and Equipment, Net | 1,959,767 | 1,978,550 |
Coal and Other Plant and Equipment [Member] | ||
Total Property, Plant and Equipment | 3,279,307 | 3,209,232 |
Mining Properties and Mineral Rights [Member] | ||
Total Property, Plant and Equipment | 884,597 | 881,551 |
Airshafts [Member] | ||
Total Property, Plant and Equipment | 480,620 | 473,866 |
Mine Development [Member] | ||
Total Property, Plant and Equipment | 360,225 | 357,479 |
Coal Advance Mining Royalties [Member] | ||
Total Property, Plant and Equipment | $ 328,984 | $ 328,677 |
Note 10 - Other Accrued Liabi_3
Note 10 - Other Accrued Liabilities - Other Accrued Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Subsidence Liability | $ 99,718 | $ 93,871 |
Accrued Compensation and Benefits | 48,810 | 47,228 |
Accrued Other Taxes | 9,441 | 8,474 |
Accrued Interest | 8,406 | 9,042 |
Other | 13,836 | 16,415 |
Asset Retirement Obligations | 27,691 | 27,400 |
Postretirement Benefits Other than Pensions | 23,265 | 23,638 |
Pneumoconiosis Benefits | 12,258 | 12,398 |
Workers' Compensation | 9,663 | 10,205 |
Total Other Accrued Liabilities | $ 253,088 | $ 248,671 |
Note 11 - Long-term Debt (Detai
Note 11 - Long-term Debt (Details Textual) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||
Mar. 29, 2021 USD ($) | Apr. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) | Mar. 31, 2022 USD ($) | Jun. 30, 2021 USD ($) | Mar. 31, 2021 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | Apr. 01, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2020 USD ($) | Mar. 28, 2019 USD ($) | Nov. 30, 2017 USD ($) | |
Assets, Total | $ 2,720,486,000 | $ 2,557,931,000 | $ 2,720,486,000 | $ 2,557,931,000 | $ 2,573,517,000 | |||||||||
Net Income (Loss) Attributable to Parent, Total | 126,291,000 | $ (4,450,000) | 4,172,000 | $ 26,404,000 | 121,841,000 | 30,576,000 | ||||||||
Gain (Loss) on Extinguishment of Debt, Total | (1,565,000) | 106,000 | (3,687,000) | 789,000 | ||||||||||
Non-Guarantor Subsidiaries [Member] | ||||||||||||||
Assets, Total | 137,684,000 | 137,684,000 | 104,548,000 | |||||||||||
Accounts Receivable, after Allowance for Credit Loss, Total | 137,346,000 | 137,346,000 | $ 104,099,000 | |||||||||||
Net Income (Loss) Attributable to Parent, Total | $ 3,407,000 | 3,284,000 | 4,092,000 | 2,125,000 | ||||||||||
Senior Secured Second Lien Notes due 2025 [Member] | ||||||||||||||
Repayments of Debt | $ 26,387,000 | 14,153,000 | ||||||||||||
PEDFA Solid Waste Disposal Revenue Bonds [Member] | ||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 9% | 9% | 9% | 9% | ||||||||||
Debt Instrument, Face Amount | $ 75,000,000 | |||||||||||||
Debt Instrument, Term (Year) | 7 years | |||||||||||||
Proceeds from Issuance of Debt | $ 75,000,000 | |||||||||||||
Restricted Cash, Total | $ 41,465,000 | $ 41,465,000 | $ 46,136,000 | |||||||||||
PEDFA Solid Waste Disposal Revenue Bonds Due April 2028 [Member] | Restricted Cash [Member] | ||||||||||||||
Payment of Capital Construction Project, Qualified Costs | 1,693,000 | 4,724,000 | ||||||||||||
Revolving Credit Facility [Member] | ||||||||||||||
Long-Term Line of Credit, Total | 0 | 0 | 0 | |||||||||||
Loans Payable [Member] | The TLA Facility [Member] | ||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 100,000,000 | |||||||||||||
Loans Payable [Member] | Senior Secured Second Lien Notes due 2025 [Member] | ||||||||||||||
Debt Instrument, Covenant, Maximum Amount of Letters of Credit | $ 200,000 | |||||||||||||
Debt Instrument, Covenant, Net Leverage Ratio, Maximum | 2 | |||||||||||||
Loans Payable [Member] | The TLB Facility [Member] | ||||||||||||||
Repayments of Lines of Credit | 4,848,000 | |||||||||||||
Long-term Debt, Percentage Bearing Fixed Interest, Amount | $ 50,000,000 | $ 150,000,000 | ||||||||||||
Loans Payable [Member] | The TLB Facility [Member] | Forecast [Member] | ||||||||||||||
Long-term Debt, Percentage Bearing Fixed Interest, Amount | $ 50,000,000 | |||||||||||||
Loans Payable [Member] | The TLB Facility [Member] | Maximum [Member] | ||||||||||||||
Debt Instrument, Repayment, Percent of Excess Cash Flow | 75% | |||||||||||||
Loans Payable [Member] | The TLB Facility [Member] | Minimum [Member] | ||||||||||||||
Debt Instrument, Repayment, Percent of Excess Cash Flow | 0% | |||||||||||||
Loans Payable [Member] | Revolving Credit Facility [Member] | ||||||||||||||
Finance Lease, Liability, Current | 22,238,000 | 22,238,000 | $ 20,743,000 | |||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 300,000,000 | |||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | |||||||||||||
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] | The TLB Facility [Member] | ||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 400,000,000 | |||||||||||||
Line of Credit [Member] | Revolving Credit Facility [Member] | ||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 400,000,000 | $ 300,000,000 | ||||||||||||
Letters of Credit Outstanding, Amount | 157,501,000 | 157,501,000 | 169,241,000 | |||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 242,499,000 | $ 242,499,000 | $ 230,759,000 | |||||||||||
Line of Credit [Member] | Revolving Credit Facility [Member] | Forecast [Member] | ||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 260,000,000 | |||||||||||||
Line of Credit [Member] | Revolving Credit Facility and TLA Facility [Member] | ||||||||||||||
Debt Instrument, Covenant, Net Leverage Ratio, Maximum | 2.75 | 2.75 | ||||||||||||
Debt Instrument, Covenant, Fixed Charge Coverage Ratio, Minimum | 1.10 | 1.10 | ||||||||||||
Debt Instrument, Covenant, First Lien Gross Leverage Ratio, Actual | 0.38 | 0.38 | ||||||||||||
Debt Instrument, Covenant, Net Leverage Ratio, Actual | 0.46 | 0.46 | ||||||||||||
Debt Instrument, Covenant, Fixed Charge Coverage Ratio, Actual | 2.51 | 2.51 | ||||||||||||
Line of Credit [Member] | Revolving Credit Facility and TLA Facility [Member] | Maximum [Member] | ||||||||||||||
Debt Instrument, Covenant, First Lien Gross Leverage Ratio | 1.75 | 1.75 | ||||||||||||
Senior Notes [Member] | Senior Secured Second Lien Notes due 2025 [Member] | ||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 11% | 11% | 11% | 11% | ||||||||||
Repayments of Debt | $ 26,387,000 | 14,153,000 | ||||||||||||
Debt Instrument, Repurchased Face Amount | $ 25,000,000 | $ 15,190,000 | 25,000,000 | $ 15,190,000 | ||||||||||
Secured Debt [Member] | Other Asset Backed Financing Matures in September 2024 [Member] | ||||||||||||||
Debt Instrument, Collateral Amount | $ 1,707,000 | $ 1,707,000 | $ 2,082,000 | |||||||||||
Debt, Weighted Average Interest Rate | 3.61% | 3.61% | 3.61% |
Note 11 - Long-term Debt - Long
Note 11 - Long-term Debt - Long-term Debt (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | |
Long term debt | $ 466,058 | $ 604,641 | |
Unamortized discount | 5,718 | 9,111 | |
Less: Amounts Due in One Year* | [1] | 4,102 | 36,589 |
Long-Term Debt | 461,956 | 568,052 | |
MEDCO Revenue Bonds in Series Due September 2025 at 5.75% [Member] | |||
Long term debt | 102,865 | 102,865 | |
PEDFA Solid Waste Disposal Revenue Bonds [Member] | |||
Long term debt | 75,000 | 75,000 | |
Term Loan A Facility [Member] | |||
Long term debt | 0 | 41,250 | |
Other Asset Backed Financing [Member] | |||
Long term debt | 1,707 | 2,082 | |
Advance Royalty Commitments [Member] | |||
Long term debt | 4,858 | 4,858 | |
Loans Payable [Member] | Term Loan B Facility [Member] | |||
Long term debt | 163,239 | 238,590 | |
Unamortized discount | 351 | 687 | |
Senior Notes [Member] | Senior Secured Second Lien Notes due 2025 [Member] | |||
Long term debt | $ 124,107 | $ 149,107 | |
[1]Excludes current portion of Finance Lease Obligations of $22,238 and $20,743 at June 30, 2022 and December 31, 2021, respectively. |
Note 11 - Long-term Debt - Lo_2
Note 11 - Long-term Debt - Long-term Debt (Details) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 | Apr. 30, 2021 | Nov. 30, 2017 |
Unamortized discount | $ 5,718 | $ 9,111 | ||
MEDCO Revenue Bonds in Series Due September 2025 at 5.75% [Member] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 5.75% | 5.75% | ||
PEDFA Solid Waste Disposal Revenue Bonds [Member] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 9% | 9% | 9% | |
Term Loan A Facility [Member] | ||||
Debt, Weighted Average Interest Rate | 5.25% | |||
Advance Royalty Commitments [Member] | ||||
Debt, Weighted Average Interest Rate | 8.01% | 8.01% | ||
Loans Payable [Member] | Term Loan B Facility [Member] | ||||
Principal Amount | $ 163,590 | $ 239,277 | ||
Unamortized discount | $ 351 | $ 687 | ||
Debt, Weighted Average Interest Rate | 6.17% | 4.61% | ||
Senior Notes [Member] | Senior Secured Second Lien Notes due 2025 [Member] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 11% | 11% | 11% |
Note 12 - Commitments and Con_3
Note 12 - Commitments and Contingent Liabilities (Details Textual) - Pending Litigation [Member] $ in Millions | Aug. 23, 2017 | Jun. 30, 2022 USD ($) |
Casey Litigation [Member] | ||
Loss Contingency, Number of Plaintiffs | 2 | |
United Mine Workers of America 1992 Benefit Plan Litigation [Member] | Minimum [Member] | ||
Estimated Liability, Annual Servicing Cost, Next Ten Years | $ 10 | |
United Mine Workers of America 1992 Benefit Plan Litigation [Member] | Maximum [Member] | ||
Estimated Liability, Annual Servicing Cost, Next Ten Years | $ 20 |
Note 12 - Commitments and Con_4
Note 12 - Commitments and Contingent Liabilities - Material Adverse Effect on Company's Financial Condition (Details) $ in Thousands | Jun. 30, 2022 USD ($) |
Standby Letters of Credit [Member] | |
Total Amounts Committed | $ 188,732 |
Less Than 1 Year | 188,732 |
1-3 Years | 0 |
3-5 Years | 0 |
Beyond 5 years | 0 |
Standby Letters of Credit [Member] | Employee Related Commitment [Member] | |
Total Amounts Committed | 51,760 |
Less Than 1 Year | 51,760 |
1-3 Years | 0 |
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 | 136,574 |
Less Than 1 Year | 136,574 |
1-3 Years | 0 |
3-5 Years | 0 |
Beyond 5 years | 0 |
Surety Bond [Member] | |
Total Amounts Committed | 621,409 |
Less Than 1 Year | 568,828 |
1-3 Years | 52,581 |
3-5 Years | 0 |
Beyond 5 years | 0 |
Surety Bond [Member] | Employee Related Commitment [Member] | |
Total Amounts Committed | 81,524 |
Less Than 1 Year | 81,524 |
1-3 Years | 0 |
3-5 Years | 0 |
Beyond 5 years | 0 |
Surety Bond [Member] | Environmental Commitment [Member] | |
Total Amounts Committed | 535,491 |
Less Than 1 Year | 484,318 |
1-3 Years | 51,173 |
3-5 Years | 0 |
Beyond 5 years | 0 |
Surety Bond [Member] | Other Commitment [Member] | |
Total Amounts Committed | 4,394 |
Less Than 1 Year | 2,986 |
1-3 Years | 1,408 |
3-5 Years | 0 |
Beyond 5 years | $ 0 |
Note 13 - Derivatives (Details
Note 13 - Derivatives (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Derivative, Gain (Loss) on Derivative, Net, Total | $ (68,352) | $ (20,437) | $ (256,506) | $ (20,437) |
Unrealized Gain (Loss) on Derivatives and Commodity Contracts, Total | 5,571 | (20,437) | (96,331) | (20,437) |
Coal Contract [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net, Total | (73,923) | (160,175) | ||
Unrealized Gain (Loss) on Derivatives and Commodity Contracts, Total | $ (5,571) | $ (20,437) | $ (96,331) | $ (20,437) |
Note 13 - Derivatives - Fair Va
Note 13 - Derivatives - Fair Value of Derivatives (Details) - Coal Contract [Member] - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Coal Swap Contracts | $ 75,822 | $ 1,086 |
Coal Swap Contracts | (250,750) | (53,290) |
Effect of Counterparty Netting, assets derivatives | (75,822) | (1,086) |
Effect of Counterparty Netting, liabilities | 75,822 | 1,086 |
Assets Derivatives, net | 0 | 0 |
Liabilities, net | $ (174,928) | $ (52,204) |
Note 14 - Fair Value of Finan_3
Note 14 - Fair Value of Financial instruments - Financial Instruments Measured at Fair Value (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Fair Value, Inputs, Level 1 [Member] | Commodity Contract [Member] | ||
Liabilities, net | $ 0 | $ 0 |
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | ||
Liabilities, net | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Commodity Contract [Member] | ||
Liabilities, net | (174,928) | (52,204) |
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Liabilities, net | 303 | (517) |
Fair Value, Inputs, Level 3 [Member] | Commodity Contract [Member] | ||
Liabilities, net | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | ||
Liabilities, net | $ 0 | $ 0 |
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, 2022 | Dec. 31, 2021 |
Reported Value Measurement [Member] | ||
Long-Term Debt, Fair Value | $ 471,776 | $ 613,752 |
Estimate of Fair Value Measurement [Member] | ||
Long-Term Debt, Fair Value | $ 485,001 | $ 628,431 |
Note 15 - Segment Information_2
Note 15 - Segment Information (Details Textual) | 6 Months Ended |
Jun. 30, 2022 | |
Number of Reportable Segments | 2 |
Note 15 - Segment Information -
Note 15 - Segment Information - Industry Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | ||
Revenue | $ 604,882 | $ 303,222 | $ 1,141,036 | $ 633,982 | ||
Adjusted EBITDA(a) | [1] | 216,339 | 84,417 | 385,569 | 191,132 | |
Assets, Total | 2,720,486 | 2,557,931 | 2,720,486 | 2,557,931 | $ 2,573,517 | |
Depreciation, Depletion and Amortization | 57,880 | 52,199 | 113,834 | 112,096 | ||
Capital Expenditures | 39,418 | 43,655 | 76,061 | 57,455 | ||
Coal Revenue [Member] | ||||||
Revenue | 532,692 | 259,832 | 1,009,060 | 545,367 | ||
Terminal Revenue [Member] | ||||||
Revenue | 21,779 | 17,380 | 43,176 | 35,592 | ||
Freight Revenue [Member] | ||||||
Revenue | 50,411 | 26,010 | 88,800 | 53,023 | ||
Intersegment Eliminations [Member] | ||||||
Revenue | 0 | 0 | 0 | 0 | ||
Adjusted EBITDA(a) | [1] | 0 | 0 | 0 | 0 | |
Assets, Total | 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 | 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] | ||||||
Adjusted EBITDA(a) | 203,980 | 78,267 | 362,239 | 177,451 | ||
Depreciation, Depletion and Amortization | 49,465 | 50,169 | 100,421 | 104,950 | ||
Pennsylvania Mining Complex [Member] | Operating Segments [Member] | ||||||
Revenue | 566,328 | 284,492 | 1,077,678 | 595,971 | ||
Adjusted EBITDA(a) | [1] | 203,980 | 78,267 | 362,239 | 177,451 | |
Assets, Total | 1,735,635 | 1,799,848 | 1,735,635 | 1,799,848 | ||
Depreciation, Depletion and Amortization | 49,465 | 50,169 | 100,421 | 104,950 | ||
Capital Expenditures | 21,673 | 39,874 | 34,651 | 52,453 | ||
Pennsylvania Mining Complex [Member] | Operating Segments [Member] | Coal Revenue [Member] | ||||||
Revenue | 518,942 | 258,482 | 991,903 | 542,948 | ||
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 | 47,386 | 26,010 | 85,775 | 53,023 | ||
CONSOL Marine Terminal [Member] | ||||||
Adjusted EBITDA(a) | 15,077 | 10,965 | 29,554 | 22,926 | ||
Depreciation, Depletion and Amortization | 1,142 | 1,200 | 2,307 | 2,414 | ||
CONSOL Marine Terminal [Member] | Operating Segments [Member] | ||||||
Revenue | 21,779 | 17,380 | 43,176 | 35,592 | ||
Adjusted EBITDA(a) | [1] | 15,077 | 10,965 | 29,554 | 22,926 | |
Assets, Total | 80,238 | 104,848 | 80,238 | 104,848 | ||
Depreciation, Depletion and Amortization | 1,142 | 1,200 | 2,307 | 2,414 | ||
Capital Expenditures | 188 | 52 | 360 | 112 | ||
CONSOL Marine Terminal [Member] | Operating Segments [Member] | Coal Revenue [Member] | ||||||
Revenue | 0 | 0 | 0 | 0 | ||
CONSOL Marine Terminal [Member] | Operating Segments [Member] | Terminal Revenue [Member] | ||||||
Revenue | 21,779 | 17,380 | 43,176 | 35,592 | ||
CONSOL Marine Terminal [Member] | Operating Segments [Member] | Freight Revenue [Member] | ||||||
Revenue | 0 | 0 | 0 | 0 | ||
Other Segments [Member] | ||||||
Adjusted EBITDA(a) | (2,718) | (4,815) | (6,224) | (9,245) | ||
Depreciation, Depletion and Amortization | 7,273 | 830 | 11,106 | 4,732 | ||
Other Segments [Member] | Operating Segments [Member] | ||||||
Revenue | 16,775 | 1,350 | 20,182 | 2,419 | ||
Adjusted EBITDA(a) | [1] | (2,718) | (4,815) | (6,224) | (9,245) | |
Assets, Total | 904,613 | 653,235 | 904,613 | 653,235 | ||
Depreciation, Depletion and Amortization | 7,273 | 830 | 11,106 | 4,732 | ||
Capital Expenditures | 17,557 | 3,729 | 41,050 | 4,890 | ||
Other Segments [Member] | Operating Segments [Member] | Coal Revenue [Member] | ||||||
Revenue | 13,750 | 1,350 | 17,157 | 2,419 | ||
Other Segments [Member] | Operating Segments [Member] | Terminal Revenue [Member] | ||||||
Revenue | 0 | 0 | 0 | 0 | ||
Other Segments [Member] | Operating Segments [Member] | Freight Revenue [Member] | ||||||
Revenue | $ 3,025 | $ 0 | $ 3,025 | $ 0 | ||
[1]Refer to “Reconciliation of Segment Information to Consolidated Amounts” for the reconciliation of Adjusted EBITDA, a non-GAAP measure, to its most directly comparable GAAP measure. |
Note 15 - Segment Information_3
Note 15 - Segment Information - Segment Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |||
Revenue | $ 604,882 | $ 303,222 | $ 1,141,036 | $ 633,982 | ||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer A [Member] | ||||||
Revenue | 124,469 | 40,996 | [1] | 211,055 | ||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer B [Member] | ||||||
Revenue | 67,174 | 44,346 | 83,345 | |||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer C [Member] | ||||||
Revenue | $ 64,874 | 32,236 | $ 131,164 | 89,916 | ||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer D [Member] | ||||||
Revenue | [1] | 49,752 | 112,321 | |||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer E [Member] | ||||||
Revenue | [1] | $ 34,439 | $ 71,038 | |||
[1]Revenues from these customers during the periods presented were less than 10% of the Company's total sales. |
Note 15 - Segment Information_4
Note 15 - Segment Information - Adjusted EBITDA (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | ||
Net (Loss) Income | $ 126,291 | $ (4,450) | $ 4,172 | $ 26,404 | $ 121,841 | $ 30,576 | |
Add: Income Tax Expense | 23,223 | (8,893) | 19,701 | (3,708) | |||
Add: Interest Expense, net | 13,121 | 16,187 | 27,473 | 31,448 | |||
Less: Interest Income | 1,439 | 811 | 2,768 | 1,669 | |||
Earnings (Loss) Before Interest & Taxes (EBIT) | 161,196 | 10,655 | 166,247 | 56,647 | |||
Depreciation, Depletion and Amortization | 57,880 | 52,199 | 113,834 | 112,096 | |||
Earnings (Loss) Before Interest, Taxes and DD&A (EBITDA) | 219,076 | 62,854 | 280,081 | 168,743 | |||
Stock-Based Compensation | 1,269 | 1,210 | 5,470 | 2,719 | |||
Loss on Debt Extinguishment | (1,565) | 106 | (3,687) | 789 | |||
Unrealized Mark-to-Market Gain on Commodity Derivative Instruments | (5,571) | 20,437 | 96,331 | 20,437 | |||
Total Pre-tax Adjustments | (2,737) | 21,563 | 105,488 | 22,389 | |||
Adjusted EBITDA | [1] | 216,339 | 84,417 | 385,569 | 191,132 | ||
Pension Settlement | 22 | 22 | |||||
Add: Income Tax Expense | 23,223 | (8,893) | 19,701 | (3,708) | |||
Loss on Debt Extinguishment | 1,565 | (106) | 3,687 | (789) | |||
Pennsylvania Mining Complex [Member] | |||||||
Net (Loss) Income | 159,404 | 6,166 | 161,501 | 48,616 | |||
Add: Income Tax Expense | 0 | 0 | 0 | 0 | |||
Add: Interest Expense, net | 68 | 478 | 257 | 1,120 | |||
Less: Interest Income | 452 | 36 | 866 | 36 | |||
Earnings (Loss) Before Interest & Taxes (EBIT) | 159,020 | 6,608 | 160,892 | 49,700 | |||
Depreciation, Depletion and Amortization | 49,465 | 50,169 | 100,421 | 104,950 | |||
Earnings (Loss) Before Interest, Taxes and DD&A (EBITDA) | 208,485 | 56,777 | 261,313 | 154,650 | |||
Stock-Based Compensation | 1,066 | 1,053 | 4,595 | 2,364 | |||
Loss on Debt Extinguishment | 0 | 0 | 0 | 0 | |||
Unrealized Mark-to-Market Gain on Commodity Derivative Instruments | (5,571) | 20,437 | 96,331 | 20,437 | |||
Total Pre-tax Adjustments | (4,505) | 21,490 | 100,926 | 22,801 | |||
Adjusted EBITDA | 203,980 | 78,267 | 362,239 | 177,451 | |||
Pension Settlement | 0 | 0 | |||||
Add: Income Tax Expense | 0 | 0 | 0 | 0 | |||
Loss on Debt Extinguishment | 0 | 0 | 0 | 0 | |||
CONSOL Marine Terminal [Member] | |||||||
Net (Loss) Income | 12,354 | 8,181 | 23,967 | 17,330 | |||
Add: Income Tax Expense | 0 | 0 | 0 | 0 | |||
Add: Interest Expense, net | 1,530 | 1,536 | 3,061 | 3,073 | |||
Less: Interest Income | 0 | 0 | 0 | 0 | |||
Earnings (Loss) Before Interest & Taxes (EBIT) | 13,884 | 9,717 | 27,028 | 20,403 | |||
Depreciation, Depletion and Amortization | 1,142 | 1,200 | 2,307 | 2,414 | |||
Earnings (Loss) Before Interest, Taxes and DD&A (EBITDA) | 15,026 | 10,917 | 29,335 | 22,817 | |||
Stock-Based Compensation | 51 | 48 | 219 | 109 | |||
Loss on Debt Extinguishment | 0 | 0 | 0 | 0 | |||
Unrealized Mark-to-Market Gain on Commodity Derivative Instruments | 0 | 0 | 0 | 0 | |||
Total Pre-tax Adjustments | 51 | 48 | 219 | 109 | |||
Adjusted EBITDA | 15,077 | 10,965 | 29,554 | 22,926 | |||
Pension Settlement | 0 | 0 | |||||
Add: Income Tax Expense | 0 | 0 | 0 | 0 | |||
Loss on Debt Extinguishment | 0 | 0 | 0 | 0 | |||
Other Segments [Member] | |||||||
Net (Loss) Income | (45,467) | (10,175) | (63,627) | (35,370) | |||
Add: Income Tax Expense | 23,223 | (8,893) | 19,701 | (3,708) | |||
Add: Interest Expense, net | 11,523 | 14,173 | 24,155 | 27,255 | |||
Less: Interest Income | 987 | 775 | 1,902 | 1,633 | |||
Earnings (Loss) Before Interest & Taxes (EBIT) | (11,708) | (5,670) | (21,673) | (13,456) | |||
Depreciation, Depletion and Amortization | 7,273 | 830 | 11,106 | 4,732 | |||
Earnings (Loss) Before Interest, Taxes and DD&A (EBITDA) | (4,435) | (4,840) | (10,567) | (8,724) | |||
Stock-Based Compensation | 152 | 109 | 656 | 246 | |||
Loss on Debt Extinguishment | (1,565) | 106 | (3,687) | 789 | |||
Unrealized Mark-to-Market Gain on Commodity Derivative Instruments | 0 | 0 | 0 | 0 | |||
Total Pre-tax Adjustments | 1,717 | 25 | 4,343 | (521) | |||
Adjusted EBITDA | (2,718) | (4,815) | (6,224) | (9,245) | |||
Pension Settlement | 22 | 22 | |||||
Add: Income Tax Expense | 23,223 | (8,893) | 19,701 | (3,708) | |||
Loss on Debt Extinguishment | $ 1,565 | $ (106) | $ 3,687 | $ (789) | |||
[1]Refer to “Reconciliation of Segment Information to Consolidated Amounts” for the reconciliation of Adjusted EBITDA, a non-GAAP measure, to its most directly comparable GAAP measure. |
Note 16 - Stock and Debt Repu_2
Note 16 - Stock and Debt Repurchases (Details Textual) - USD ($) shares in Thousands, $ in Thousands | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Aug. 01, 2022 | |
Stock and Debt Repurchase Program, Authorized Amount | $ 600,000 | ||
Stock Repurchased and Retired During Period, Shares (in shares) | 0 | 0 | |
Senior Secured Second Lien Notes due 2025 [Member] | |||
Repayments of Debt | $ 26,387 | $ 14,153 | |
Senior Secured Second Lien Notes due 2025 [Member] | Senior Notes [Member] | |||
Repayments of Debt | 26,387 | 14,153 | |
Debt Instrument, Repurchased Face Amount | $ 25,000 | $ 15,190 |
Note 17 - Subsequent Events (De
Note 17 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Millions | Aug. 01, 2022 | Apr. 01, 2023 | Aug. 04, 2022 | Jul. 31, 2022 | Jul. 01, 2022 | Mar. 28, 2019 | Nov. 30, 2017 |
Line of Credit [Member] | Revolving Credit Facility [Member] | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 400 | $ 300 | |||||
Line of Credit [Member] | Revolving Credit Facility [Member] | Forecast [Member] | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 260 | ||||||
Subsequent Event [Member] | |||||||
Revolving Credit Facility, Maturities, Number of Years (Year) | 4 years | ||||||
Accounts Receivable Securitization, Maturities, Number of Years (Year) | 3 years | ||||||
Return in the Form of Dividends And/Or Share Repurchases, Percentage | 35% | ||||||
Stock and Debt Repurchase Program, Expansion Amount | $ 280 | ||||||
Stock and Debt Repurchase Program, Total | 600 | ||||||
Stock and Debt Repurchase Program, Available Capacity | $ 381 | ||||||
Dividends Payable, Amount Per Share (in dollars per share) | $ 1 | ||||||
Dividends Payable | $ 35 | ||||||
Subsequent Event [Member] | Line of Credit [Member] | Revolving Credit Facility [Member] | |||||||
Line of Credit Facility Increase in Maximum Borrowing Capacity | $ 260 | ||||||
Line of Credit Facility, Current Borrowing Capacity | 400 | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | 100 | ||||||
Subsequent Event [Member] | Line of Credit [Member] | Revolving Credit Facility [Member] | New Lenders [Member] | |||||||
Line of Credit Facility Increase in Maximum Borrowing Capacity | $ 100 | ||||||
Subsequent Event [Member] | Line of Credit [Member] | Revolving Credit Facility [Member] | Existing Lenders [Member] | |||||||
Line of Credit Facility Increase in Maximum Borrowing Capacity | $ 40 |