Segment Information | SEGMENT INFORMATION: 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 reportable segments, the PAMC and the CONSOL Marine Terminal. The PAMC includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine and a centralized preparation plant. The PAMC segment’s principal activities include the mining, preparation and marketing of bituminous coal, sold primarily to power generators, industrial end-users and metallurgical end-users. The CONSOL Marine Terminal provides coal export terminal services through the Port of Baltimore. General and administrative costs are allocated to the Company’s segments based on a percentage of resources utilized, a percentage of total revenue and a percentage of total projected capital expenditures. CONSOL Energy’s Other segment includes revenue and expenses from various corporate and diversified business activities that are not allocated to the PAMC or the CONSOL Marine Terminal segments. The diversified business activities include the development and operation of the Itmann Mining Complex, the Greenfield Reserves and Resources, closed mine activities, other income, gain on asset sales related to non-core assets, and gain/loss on debt extinguishment. Additionally, interest expense and income taxes, as well as various other non-operated activities, none of which are individually significant to the Company, are also reflected in CONSOL Energy's Other segment and are not allocated to the PAMC and CONSOL Marine Terminal segments. The Company evaluates the performance of its segments utilizing Adjusted EBITDA and various sales and production metrics. Adjusted EBITDA measures the operating performance of the Company's segments and is used to allocate resources to the Company's segments. Reportable segment results for the year ended December 31, 2022 are: PAMC CONSOL Marine Terminal Other Adjustments and Eliminations Consolidated Coal Revenue $ 1,973,884 $ — $ 44,778 $ — $ 2,018,662 Terminal Revenue — 78,915 — — 78,915 Freight Revenue 177,610 — 4,831 — 182,441 Total Revenue from Contracts with Customers $ 2,151,494 $ 78,915 $ 49,609 $ — $ 2,280,018 Adjusted EBITDA $ 773,095 $ 52,259 $ (18,621) $ — $ 806,733 Segment Assets $ 1,756,368 $ 82,333 $ 865,676 $ — $ 2,704,377 Depreciation, Depletion and Amortization $ 200,320 $ 4,604 $ 21,954 $ — $ 226,878 Capital Expenditures $ 107,401 $ 4,646 $ 59,459 $ — $ 171,506 Reportable segment results for the year ended December 31, 2021 are: PAMC CONSOL Marine Terminal Other Adjustments and Eliminations Consolidated Coal Revenue $ 1,085,080 $ — $ 6,942 $ — $ 1,092,022 Terminal Revenue — 65,193 — — 65,193 Freight Revenue 103,819 — — — 103,819 Total Revenue from Contracts with Customers $ 1,188,899 $ 65,193 $ 6,942 $ — $ 1,261,034 Adjusted EBITDA $ 360,480 $ 43,491 $ (25,725) $ — $ 378,246 Segment Assets $ 1,773,609 $ 108,877 $ 691,031 $ — $ 2,573,517 Depreciation, Depletion and Amortization $ 206,727 $ 4,834 $ 13,022 $ — $ 224,583 Capital Expenditures $ 100,896 $ 974 $ 30,882 $ — $ 132,752 Reportable segment results for the year ended December 31, 2020 are: PAMC CONSOL Marine Terminal Other Adjustments and Eliminations Consolidated Coal Revenue $ 771,363 $ — $ 1,299 $ — $ 772,662 Terminal Revenue — 66,810 — — 66,810 Freight Revenue 39,990 — — — 39,990 Total Revenue from Contracts with Customers $ 811,353 $ 66,810 $ 1,299 $ — $ 879,462 Adjusted EBITDA $ 228,211 $ 44,356 $ (11,044) $ — $ 261,523 Segment Assets $ 1,864,514 $ 108,711 $ 550,141 $ — $ 2,523,366 Depreciation, Depletion and Amortization $ 198,272 $ 5,095 $ 7,393 $ — $ 210,760 Capital Expenditures $ 70,195 $ 1,455 $ 14,354 $ — $ 86,004 For the years ended December 31, 2022, 2021 and 2020, the Company's reportable segments had revenues from the following customers, each comprising over 10% of the Company's total sales: For the Years Ended December 31, 2022 2021 2020 Customer A $ 328,994 $ 186,622 $ 134,354 Customer B * * $ 223,891 Customer C * $ 141,968 $ 116,536 Customer D * $ 170,901 * Customer E $ 368,502 * * * Revenues from these customers during the periods presented were less than 10% of the Company's total sales. Reconciliation of Segment Information to Consolidated Amounts: Revenue and Other Income: For the Years Ended December 31, 2022 2021 2020 Total Segment Revenue from Contracts with Customers $ 2,280,018 $ 1,261,034 $ 879,462 Loss on Commodity Derivatives, net (237,024) (52,204) — Other Income not Allocated to Segments (Note 4) 24,354 38,394 126,886 Gain on Sale of Assets 34,589 11,723 15,295 Total Consolidated Revenue and Other Income $ 2,101,937 $ 1,258,947 $ 1,021,643 Adjusted EBITDA: For the Year Ended December 31, 2022 PAMC CONSOL Marine Terminal Other Total Net Income (Loss) $ 620,208 $ 41,223 $ (194,452) $ 466,979 Income Tax Expense — — 101,458 101,458 Interest Expense — 6,116 46,524 52,640 Interest Income (1,857) — (4,174) (6,031) Depreciation, Depletion and Amortization 200,320 4,604 21,954 226,878 Stock-Based Compensation 6,628 316 946 7,890 Loss on Debt Extinguishment — — 5,623 5,623 Equity Affiliate Adjustments — — 3,500 3,500 Fair Value Adjustment of Commodity Derivative Instruments (52,204) — — (52,204) Adjusted EBITDA $ 773,095 $ 52,259 $ (18,621) $ 806,733 For the Year Ended December 31, 2021 PAMC CONSOL Marine Terminal Other Total Net Income (Loss) $ 94,161 $ 32,251 $ (92,302) $ 34,110 Income Tax Expense — — 1,297 1,297 Interest Expense 1,710 6,141 55,491 63,342 Interest Income (90) — (3,197) (3,287) Depreciation, Depletion and Amortization 206,727 4,834 13,022 224,583 Stock-Based Compensation 5,768 265 599 6,632 Gain on Debt Extinguishment — — (657) (657) Pension Settlement — — 22 22 Fair Value Adjustment of Commodity Derivative Instruments 52,204 — — 52,204 Adjusted EBITDA $ 360,480 $ 43,491 $ (25,725) $ 378,246 For the Year Ended December 31, 2020 PAMC CONSOL Marine Terminal Other Total Net Income (Loss) $ 16,185 $ 32,537 $ (61,936) $ (13,214) Income Tax Expense — — 3,972 3,972 Interest Expense 1,236 6,166 53,784 61,186 Interest Income (10) — (1,220) (1,230) Depreciation, Depletion and Amortization 198,272 5,095 7,393 210,760 Stock/Unit-Based Compensation 9,905 558 1,116 11,579 CCR Merger Fees 2,623 — 7,199 9,822 Gain on Debt Extinguishment — — (21,352) (21,352) Adjusted EBITDA $ 228,211 $ 44,356 $ (11,044) $ 261,523 Enterprise-Wide Disclosures: For the year ended December 31, 2022, more than 50% of the Company's revenue was attributable to international customers. India and Europe were attributed greater than 10% of total revenue during the year ended December 31, 2022. For the years ended December 31, 2021 and 2020, more than 50% of the Company's revenue was attributable to customers based in the United States of America. India was attributed greater than 10% of total revenue during the year ended December 31, 2021. No individual country outside of the United States was attributed greater than 10% of total revenue during the year ended December 31, 2020. CONSOL Energy's property, plant and equipment is predominantly located in the United States. At December 31, 2022 and 2021, less than 1% of the Company's net property, plant and equipment was located in Canada. |