Note 16 - Segment Information

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 16—SEGMENT INFORMATION:

CONSOL Energy Inc. consists of one reportable segment: the Pennsylvania Mining Complex, which includes the Bailey Mine, the Enlow Fork Mine, the Harvey Mine and the Central Preparation Plant. The principal activities of the PAMC are mining, preparation and marketing of thermal coal, sold primarily to power generators. It also includes selling, general and administrative activities, as well as various other activities assigned to the PAMC.

CONSOL Energy’s Other division includes revenue and expenses from various corporate and diversified business activities that are not allocated to the PAMC division. The diversified business activities include the CONSOL Marine Terminal, development of the Itmann Mine, the Greenfield Reserves, closed and idle mine activities, selling, general and administrative activities, interest expense and income taxes, as well as various other non-operated activities, none of which are individually significant to the Company.

Industry segment results for the three months ended September 30, 2020 are:

	PAMC			Other		Adjustments and Eliminations		Consolidated
Coal Revenue	$	184,066		$	309	$	—	$	184,375		(A)
Terminal Revenue		—			17,008		—		17,008
Freight Revenue		12,909			—		—		12,909
Total Revenue from Contracts with Customers	$	196,975		$	17,317	$	—	$	214,292
(Loss) Earnings Before Income Tax	$	(6,930	)	$	3,488	$	—	$	(3,442	)
Segment Assets	$	1,878,350		$	676,488	$	—	$	2,554,838
Depreciation, Depletion and Amortization	$	49,944		$	5,015	$	—	$	54,959
Capital Expenditures	$	15,733		$	3,775	$	—	$	19,508

Industry segment results for the three months ended September 30, 2019 are:

	PAMC		Other			Adjustments and Eliminations		Consolidated
Coal Revenue	$	301,542	$	—		$	—	$	301,542	(A)
Terminal Revenue		—		16,303			—		16,303
Freight Revenue		3,599		—			—		3,599
Total Revenue from Contracts with Customers	$	305,141	$	16,303		$	—	$	321,444
Earnings (Loss) Before Income Tax	$	30,546	$	(21,107	)	$	—	$	9,439
Segment Assets	$	2,014,381	$	708,854		$	—	$	2,723,235
Depreciation, Depletion and Amortization	$	45,829	$	8,541		$	—	$	54,370
Capital Expenditures	$	45,232	$	3,289		$	—	$	48,521

Industry segment results for the nine months ended September 30, 2020 are:

	PAMC			Other			Adjustments and Eliminations		Consolidated
Coal Revenue	$	541,545		$	595		$	—	$	542,140		(A)
Terminal Revenue		—			49,407			—		49,407
Freight Revenue		19,141			—			—		19,141
Total Revenue from Contracts with Customers	$	560,686		$	50,002		$	—	$	610,688
Loss Before Income Tax	$	(18,405	)	$	(9,400	)	$	—	$	(27,805	)
Segment Assets	$	1,878,350		$	676,488		$	—	$	2,554,838
Depreciation, Depletion and Amortization	$	145,154		$	10,903		$	—	$	156,057
Capital Expenditures	$	52,687		$	13,268		$	—	$	65,955

Industry segment results for the nine months ended September 30, 2019 are:

	PAMC		Other			Adjustments and Eliminations		Consolidated
Coal Revenue	$	984,665	$	—		$	—	$	984,665	(A)
Terminal Revenue		—		50,829			—		50,829
Freight Revenue		14,115		—			—		14,115
Total Revenue from Contracts with Customers	$	998,780	$	50,829		$	—	$	1,049,609
Earnings (Loss) Before Income Tax	$	156,029	$	(80,115	)	$	—	$	75,914
Segment Assets	$	2,014,381	$	708,854		$	—	$	2,723,235
Depreciation, Depletion and Amortization	$	136,124	$	15,121		$	—	$	151,245
Capital Expenditures	$	117,417	$	14,058		$	—	$	131,475

(A) For the three and nine months ended September 30, 2020 and 2019, the PAMC segment had revenues from the following customers, each comprising over 10% of the Company’s total sales:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Customer A	$	45,818	$	49,772	$	94,647	$	180,014
Customer C	$	36,888	$	63,526	$	86,631	$	158,903
Customer B		*	$	95,953	$	141,993	$	358,882

* Revenues from this customer during the three months ended September 30, 2020 were less than 10% of the Company's total sales.

Reconciliation of Segment Information to Consolidated Amounts:

Total Assets:

	September 30,
	2020		2019
Segment Assets for Total Reportable Business Segments	$	1,878,350	$	2,014,381
Segment Assets for All Other Business Segments		542,189		512,738
Items Excluded from Segment Assets:
Cash and Other Investments		32,660		104,344
Deferred Tax Assets		101,639		91,772
Total Consolidated Assets	$	2,554,838	$	2,723,235