Note 5 - Components of Pension and Other Post-employment Benefit (OPEB) Plans Net Periodic Benefit Costs

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Retirement Benefits [Text Block]

NOTE 5—COMPONENTS OF PENSION AND OTHER POST-EMPLOYMENT BENEFIT (OPEB) PLANS NET PERIODIC BENEFIT COSTS:

The components of Net Periodic Benefit (Credit) Cost are as follows:

	Pension Benefits												Other Post-Employment Benefits
	Three Months Ended						Nine Months Ended						Three Months Ended						Nine Months Ended
	September 30,						September 30,						September 30,						September 30,
	2021			2020			2021			2020			2021			2020			2021			2020
Service Cost	$	278		$	296		$	836		$	887		$	—		$	—		$	—		$	—
Interest Cost		3,563			5,044			10,667			15,132			1,819			3,199			5,456			9,597
Expected Return on Plan Assets		(10,542	)		(10,455	)		(31,626	)		(31,365	)		—			—			—			—
Amortization of Prior Service Credits		—			—			—			—			(602	)		(601	)		(1,804	)		(1,804	)
Amortization of Actuarial Loss		1,368			1,730			4,102			5,191			1,629			2,319			4,887			6,958
Settlement Loss Recognized		—			—			22			—			—			—			—			—
Net Periodic Benefit (Credit) Cost	$	(5,333	)	$	(3,385	)	$	(15,999	)	$	(10,155	)	$	2,846		$	4,917		$	8,539		$	14,751

(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 nine months ended September 30, 2021, lump sum payments exceeded the total of the projected service cost and interest cost for the plan year, triggering settlement accounting. Accordingly, CONSOL Energy recognized expense of $22 for the nine months ended September 30, 2021 in Operating and Other Costs in the Consolidated Statements of Income. The settlement charges represented a pro rata portion of the net unrecognized loss based on the percentage reduction in the projected benefit obligation due to the lump sum payments. The settlement charges noted above also resulted in a remeasurement of the pension plan at June 30, 2021, which reduced the pension liability by $1,009. The settlement and corresponding remeasurement of the pension plan resulted in an adjustment of $766 to Other Comprehensive Income, net of $265 in deferred taxes.