XML 57 R45.htm IDEA: XBRL DOCUMENT v3.19.2
GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION (Tables)
6 Months Ended
Jun. 30, 2019
Condensed Financial Information Disclosure [Abstract]  
Income Statement
Income Statement for the Three Months Ended June 30, 2018 (unaudited):

 
Parent
Issuer
 

Guarantor
 
CCR Non-Guarantor
 
Non-Guarantor
 
Elimination
 
Consolidated
Revenue and Other Income:
 
 
 
 
 
 
 
 
 
 
 
Coal Revenue
$

 
$
278,023

 
$
92,674

 
$

 
$

 
$
370,697

Terminal Revenue

 
16,659

 

 

 

 
16,659

Freight Revenue

 
13,083

 
4,361

 

 

 
17,444

Miscellaneous Other Income
70,678

 
5,583

 
1,036

 

 
(66,928
)
 
10,369

Gain (Loss) on Sale of Assets
8

 
110

 
(14
)
 

 

 
104

Total Revenue and Other Income
70,686

 
313,458

 
98,057

 

 
(66,928
)
 
415,273

Costs and Expenses:
 
 
 
 
 
 
 
 
 
 
 
Operating and Other Costs

 
190,023

 
57,299

 
873

 

 
248,195

Depreciation, Depletion and Amortization

 
43,065

 
11,896

 

 

 
54,961

Freight Expense

 
13,083

 
4,361

 

 

 
17,444

Selling, General and Administrative Costs

 
12,364

 
3,341

 

 

 
15,705

Loss on Debt Extinguishment
1,723

 

 

 

 

 
1,723

Interest Expense, net
20,769

 
735

 
1,784

 

 
(1,784
)
 
21,504

Total Costs And Expenses
22,492

 
259,270

 
78,681

 
873

 
(1,784
)
 
359,532

Earnings (Loss) Before Income Tax
48,194

 
54,188

 
19,376

 
(873
)
 
(65,144
)
 
55,741

Income Tax Expense
3,032

 

 

 

 

 
3,032

Net Income (Loss)
45,162

 
54,188

 
19,376

 
(873
)
 
(65,144
)
 
52,709

Less: Net Income Attributable to Noncontrolling Interest

 

 

 

 
7,547

 
7,547

Net Income (Loss) Attributable to CONSOL Energy Inc. Shareholders
$
45,162


$
54,188


$
19,376


$
(873
)
 
$
(72,691
)
 
$
45,162

































Income Statement for the Three Months Ended June 30, 2019 (unaudited):

 
Parent
Issuer
 

Guarantor
 
CCR Non-Guarantor
 
Non-Guarantor
 
Elimination
 
Consolidated
Revenue and Other Income:
 
 
 
 
 
 
 
 
 
 
 
Coal Revenue
$

 
$
262,965

 
$
87,655

 
$

 
$

 
$
350,620

Terminal Revenue

 
16,708

 

 

 

 
16,708

Freight Revenue

 
2,890

 
964

 

 

 
3,854

Miscellaneous Other Income (Loss)
55,908

 
(8,869
)
 
1,038

 
19,000

 
(54,883
)
 
12,194

Gain (Loss) on Sale of Assets
1,291

 
(348
)
 
(10
)
 

 

 
933

Total Revenue and Other Income
57,199

 
273,346

 
89,647

 
19,000

 
(54,883
)
 
384,309

Costs and Expenses:
 
 
 
 
 
 
 
 
 
 
 
Operating and Other Costs

 
194,580

 
58,450

 
418

 

 
253,448

Depreciation, Depletion and Amortization

 
34,815

 
11,336

 

 

 
46,151

Freight Expense

 
2,890

 
964

 

 

 
3,854

Selling, General and Administrative Costs

 
13,335

 
2,953

 

 

 
16,288

Loss on Debt Extinguishment
1,500

 

 

 

 

 
1,500

Interest Expense, net
14,227

 
262

 
1,557

 

 

 
16,046

Total Costs And Expenses
15,727

 
245,882

 
75,260

 
418

 

 
337,287

Earnings Before Income Tax
41,472

 
27,464

 
14,387

 
18,582

 
(54,883
)
 
47,022

Income Tax Benefit
(1,808
)
 

 

 

 

 
(1,808
)
Net Income
43,280

 
27,464

 
14,387

 
18,582

 
(54,883
)
 
48,830

Less: Net Income Attributable to Noncontrolling Interest

 

 

 

 
5,550

 
5,550

Net Income Attributable to CONSOL Energy Inc. Shareholders
$
43,280

 
$
27,464

 
$
14,387

 
$
18,582

 
$
(60,433
)
 
$
43,280








Balance Sheet
Balance Sheet at June 30, 2019 (unaudited):

 
Parent
Issuer
 

Guarantor
 
CCR Non-Guarantor
 
Non-Guarantor
 
Elimination
 
Consolidated
Assets:
 
 
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
154,815

 
$
361

 
$
460

 
$
36

 
$

 
$
155,672

Restricted Cash
14,781

 

 

 
3,915

 

 
18,696

Accounts and Notes Receivable:
 
 
 
 
 
 
 
 
 
 
 
Trade

 

 

 
110,454

 

 
110,454

Other Receivables
21,026

 
7,671

 
599

 

 

 
29,296

Inventories

 
39,598

 
11,593

 

 

 
51,191

Prepaid Expenses and Other Assets
9,154

 
16,353

 
5,537

 

 

 
31,044

Total Current Assets
199,776

 
63,983

 
18,189

 
114,405

 

 
396,353

Property, Plant and Equipment:
 
 
 
 
 
 
 
 
 
 
 
Property, Plant and Equipment

 
3,961,814

 
965,678

 

 

 
4,927,492

Less-Accumulated Depreciation, Depletion and Amortization

 
2,275,603

 
548,745

 

 

 
2,824,348

Total Property, Plant and Equipment-Net

 
1,686,211

 
416,933

 

 

 
2,103,144

Other Assets:
 
 
 
 
 
 
 
 
 
 
 
Deferred Income Taxes
91,837

 

 

 

 

 
91,837

Affiliated Credit Facility
137,550

 

 

 

 
(137,550
)
 

Investment in Affiliates
807,972

 

 

 

 
(807,972
)
 

Right of Use Asset - Operating Leases

 
64,111

 
17,994

 

 

 
82,105

Other
35,851

 
42,650

 
13,531

 

 

 
92,032

Total Other Assets
1,073,210

 
106,761

 
31,525

 

 
(945,522
)
 
265,974

Total Assets
$
1,272,986

 
$
1,856,955

 
$
466,647

 
$
114,405

 
$
(945,522
)
 
$
2,765,471

Liabilities and Equity:
 
 
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Accounts Payable
$
77,955

 
$
18,259

 
$
24,811


$
7,458

 
$
2,398

 
$
130,881

Accounts Payable (Recoverable)-Related Parties

 

 
380

 

 
(380
)
 

Current Portion of Long-Term Debt
23,185

 
11,194

 
3,595

 

 

 
37,974

Other Accrued Liabilities
80,455

 
122,495

 
38,117

 
350

 
(2,398
)
 
239,019

Total Current Liabilities
181,595

 
151,948

 
66,903

 
7,808

 
(380
)
 
407,874

Long-Term Debt:
565,083

 
144,888

 
140,646

 

 
(137,550
)
 
713,067

Deferred Credits and Other Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Postretirement Benefits Other Than Pensions

 
432,495

 

 

 

 
432,495

Pneumoconiosis Benefits

 
160,184

 
4,683

 

 

 
164,867

Asset Retirement Obligations

 
226,873

 
10,776

 

 

 
237,649

Workers’ Compensation

 
56,484

 
3,015

 

 

 
59,499

Salary Retirement
57,805

 

 

 

 

 
57,805

Operating Lease Liability

 
53,771

 
14,695

 

 

 
68,466

Other

 
12,967

 
539

 

 

 
13,506

Total Deferred Credits and Other Liabilities
57,805

 
942,774

 
33,708

 

 

 
1,034,287

Total CONSOL Energy Inc. Stockholders’ Equity
468,503

 
617,345

 
225,390

 
106,597

 
(949,332
)
 
468,503

Noncontrolling Interest

 

 

 

 
141,740

 
141,740

Total Liabilities and Equity
$
1,272,986


$
1,856,955

 
$
466,647

 
$
114,405

 
$
(945,522
)
 
$
2,765,471




Balance Sheet at December 31, 2018:

 
Parent
Issuer
 

Guarantor
 
CCR Non-Guarantor
 
Non-Guarantor
 
Elimination
 
Consolidated
Assets:
 
 
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
234,536

 
$
138

 
$
1,003

 
$

 
$

 
$
235,677

Restricted Cash
14,557

 

 

 
14,701

 

 
29,258

Accounts and Notes Receivable:
 
 
 
 
 
 
 
 
 
 
 
Trade

 

 

 
87,589

 

 
87,589

Other Receivables
24,352

 
15,935

 
1,068

 

 

 
41,355

Inventories

 
37,580

 
11,066

 

 

 
48,646

Prepaid Expenses and Other Assets
10,883

 
15,451

 
5,096

 

 

 
31,430

Total Current Assets
284,328

 
69,104

 
18,233

 
102,290

 

 
473,955

Property, Plant and Equipment:
 
 
 
 
 
 
 
 
 
 
 
Property, Plant and Equipment

 
3,891,873

 
946,298

 

 

 
4,838,171

Less-Accumulated Depreciation, Depletion and Amortization

 
2,204,896

 
526,747

 

 

 
2,731,643

Total Property, Plant and Equipment-Net

 
1,686,977

 
419,551

 

 

 
2,106,528

Other Assets:
 
 
 
 
 
 
 
 
 
 
 
Deferred Income Taxes
77,545

 

 

 

 

 
77,545

Affiliated Credit Facility
141,129

 

 

 

 
(141,129
)
 

Investment in Affiliates
605,981

 

 

 

 
(605,981
)
 

Other
40,760

 
47,031

 
14,908

 

 

 
102,699

Total Other Assets
865,415

 
47,031

 
14,908

 

 
(747,110
)
 
180,244

Total Assets
$
1,149,743

 
$
1,803,112

 
$
452,692

 
$
102,290

 
$
(747,110
)
 
$
2,760,727

Liabilities and Equity:
 
 
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Accounts Payable
$
(721
)
 
$
102,995

 
$
24,834

 
$

 
$
3,822

 
$
130,930

Accounts Payable (Recoverable)-Related Parties
(2,291
)
 
36,220

 
3,831

 
87,593

 
(125,353
)
 

Current Portion of Long-Term Debt
8,157

 
11,139

 
3,503

 

 
112,013

 
134,812

Other Accrued Liabilities
92,534

 
105,806

 
31,916

 

 
(3,822
)
 
226,434

Total Current Liabilities
97,679

 
256,160

 
64,084

 
87,593

 
(13,340
)
 
492,176

Long-Term Debt:
577,957

 
151,202

 
146,196

 

 
(141,129
)
 
734,226

Deferred Credits and Other Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Postretirement Benefits Other Than Pensions

 
441,246

 

 

 

 
441,246

Pneumoconiosis Benefits

 
160,741

 
4,260

 

 

 
165,001

Asset Retirement Obligations

 
226,209

 
9,775

 

 

 
235,984

Workers’ Compensation

 
56,623

 
3,119

 

 

 
59,742

Salary Retirement
64,172

 

 

 

 

 
64,172

Other

 
16,051

 
518

 

 

 
16,569

Total Deferred Credits and Other Liabilities
64,172

 
900,870

 
17,672

 

 

 
982,714

Total CONSOL Energy Inc. Stockholders’ Equity
409,935

 
494,880

 
224,740

 
14,697

 
(734,317
)
 
409,935

Noncontrolling Interest

 

 

 

 
141,676

 
141,676

Total Liabilities and Equity
$
1,149,743

 
$
1,803,112

 
$
452,692

 
$
102,290

 
$
(747,110
)
 
$
2,760,727






Condensed Statement of Cash Flows
Condensed Statement of Cash Flows for the Six Months Ended June 30, 2019 (unaudited):

 
Parent Issuer
 

Guarantor
 
CCR Non-Guarantor
 
Non-Guarantor
 
Elimination
 
Consolidated
Net Cash Provided by (Used in) Operating Activities
$
161,749

 
$
(43,026
)
 
$
47,078

 
$

 
$

 
$
165,801

Cash Flows from Investing Activities:
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures

 
(64,908
)
 
(18,046
)
 

 

 
(82,954
)
Proceeds from Sales of Assets

 
1,296

 
4

 

 

 
1,300

(Investments in), net of Distributions from, Subsidiaries
(86,783
)
 
95,629

 

 

 
(8,846
)
 

Net Cash (Used in) Provided by Investing Activities
(86,783
)
 
32,017

 
(18,042
)
 

 
(8,846
)
 
(81,654
)
Cash Flows from Financing Activities:
 
 
 
 
 
 
 
 
 
 
 
Payments on Finance Leases

 
(7,242
)
 
(1,890
)
 

 

 
(9,132
)
Net (Payments on) Proceeds from Related Party Long-Term Notes
(2,000
)
 

 
2,000

 

 

 

Proceeds from Term Loan A
26,250

 

 

 

 

 
26,250

Payments on Term Loan A
(3,750
)
 

 

 

 

 
(3,750
)
Payments on Term Loan B
(123,062
)
 

 

 

 

 
(123,062
)
Buyback of Second Lien Notes
(19,320
)
 

 

 

 

 
(19,320
)
Distributions to Noncontrolling Interest

 

 
(28,809
)
 

 
17,690

 
(11,119
)
Shares/Units Withheld for Taxes
(4,743
)
 
880

 
(880
)
 

 

 
(4,743
)
Repurchases of Common Stock
(9,550
)
 

 

 

 

 
(9,550
)
Purchases of CCR Units
(119
)
 

 

 

 

 
(119
)
Debt-Related Financing Fees
(20,169
)
 

 

 

 

 
(20,169
)
Net Cash (Used in) Provided by Financing Activities
$
(156,463
)
 
$
(6,362
)
 
$
(29,579
)
 
$

 
$
17,690

 
$
(174,714
)


Condensed Statement of Cash Flows for the Six Months Ended June 30, 2018 (unaudited):

 
Parent Issuer
 

Guarantor
 
CCR Non-Guarantor
 
Non-Guarantor
 
Elimination
 
Consolidated
Net Cash (Used in) Provided by Operating Activities
$
(1,344
)
 
$
201,323

 
$
78,213

 
$

 
$

 
$
278,192

Cash Flows from Investing Activities:
 
 
 
 
 
 
 
 
 
 
 
Capital Expenditures

 
(44,020
)
 
(12,179
)
 

 

 
(56,199
)
Proceeds from Sales of Assets

 
1,064

 
165

 

 

 
1,229

Distributions from, net of (Investments in), Subsidiaries
21,478

 
(3,959
)
 

 

 
(17,519
)
 

Net Cash Provided by (Used in) Investing Activities
21,478

 
(46,915
)
 
(12,014
)
 

 
(17,519
)
 
(54,970
)
Cash Flows from Financing Activities:
 
 
 
 
 
 
 
 
 
 
 
Payments on Finance Leases

 
(5,186
)
 
(1,411
)
 

 

 
(6,597
)
Net Proceeds from (Payments on) Related Party Long-Term Notes
36,083

 

 
(36,083
)
 

 

 

Payments on Term Loan A
(26,250
)
 

 

 

 

 
(26,250
)
Payments on Term Loan B
(2,000
)
 

 

 

 

 
(2,000
)
Buyback of Second Lien Notes
(20,524
)
 

 

 

 

 
(20,524
)
Distributions to Noncontrolling Interest

 

 
(28,693
)
 

 
17,519

 
(11,174
)
Shares/Units Withheld for Taxes

 
(1,972
)
 
(899
)
 

 

 
(2,871
)
Spin Distribution to CNX Resources

 
(18,234
)
 

 

 

 
(18,234
)
Repurchases of Common Stock
(3,281
)
 

 

 

 

 
(3,281
)
Debt-Related Financing Fees
(1,767
)
 

 

 

 

 
(1,767
)
Net Cash (Used in) Provided by Financing Activities
$
(17,739
)
 
$
(25,392
)
 
$
(67,086
)
 
$

 
$
17,519

 
$
(92,698
)

Statement of Comprehensive Income
Statement of Comprehensive Income for the Three Months Ended June 30, 2019 (unaudited):

 
Parent Issuer
 

Guarantor
 
CCR Non-Guarantor
 
Non-
Guarantor
 
Elimination
 
Consolidated
Net Income
$
43,280

 
$
27,464

 
$
14,387

 
$
18,582

 
$
(54,883
)
 
$
48,830

Other Comprehensive Income:
 
 
 
 
 
 
 
 
 
 
 
Net Actuarial Gain (Loss)
2,462

 

 
(3
)
 

 

 
2,459

Unrecognized Loss on Derivatives
(264
)
 

 

 

 

 
(264
)
Other Comprehensive Income (Loss)
2,198

 

 
(3
)
 

 

 
2,195

Comprehensive Income
45,478

 
27,464

 
14,384

 
18,582

 
(54,883
)
 
51,025

Less: Comprehensive Income Attributable to Noncontrolling Interest

 

 

 

 
5,549

 
5,549

Comprehensive Income Attributable to CONSOL Energy Inc. Shareholders
$
45,478

 
$
27,464

 
$
14,384

 
$
18,582

 
$
(60,432
)
 
$
45,476



Statement of Comprehensive Income for the Three Months Ended June 30, 2018 (unaudited):

 
Parent Issuer
 

Guarantor
 
CCR Non-Guarantor
 
Non-
Guarantor
 
Elimination
 
Consolidated
Net Income (Loss)
$
45,162

 
$
54,188

 
$
19,376

 
$
(873
)
 
$
(65,144
)
 
$
52,709

Other Comprehensive Income (Loss):
 
 
 
 
 
 
 
 
 
 
 
Net Actuarial Gain (Loss)
4,184

 

 
(2
)
 

 

 
4,182

Other Comprehensive Income (Loss)
4,184

 

 
(2
)
 

 

 
4,182

Comprehensive Income (Loss)
49,346

 
54,188

 
19,374

 
(873
)
 
(65,144
)
 
56,891

Less: Comprehensive Income Attributable to Noncontrolling Interest

 

 

 

 
7,550

 
7,550

Comprehensive Income (Loss) Attributable to CONSOL Energy Inc. Shareholders
$
49,346

 
$
54,188

 
$
19,374

 
$
(873
)
 
$
(72,694
)
 
$
49,341

Statement of Comprehensive Income for the Six Months Ended June 30, 2019 (unaudited):

 
Parent Issuer
 

Guarantor
 
CCR Non-Guarantor
 
Non-
Guarantor
 
Elimination
 
Consolidated
Net Income
$
57,715

 
$
62,870

 
$
29,607

 
$
18,167

 
$
(99,226
)
 
$
69,133

Other Comprehensive Income:
 
 
 
 
 
 
 
 
 
 
 
Net Actuarial Gain (Loss)
4,919

 

 
(6
)
 

 
6

 
4,919

Unrecognized Loss on Derivatives
(264
)
 

 

 

 

 
(264
)
Other Comprehensive Income (Loss)
4,655

 

 
(6
)
 

 
6

 
4,655

Comprehensive Income
62,370

 
62,870

 
29,601

 
18,167

 
(99,220
)
 
73,788

Less: Comprehensive Income Attributable to Noncontrolling Interest

 

 

 

 
11,416

 
11,416

Comprehensive Income Attributable to CONSOL Energy Inc. Shareholders
$
62,370

 
$
62,870

 
$
29,601

 
$
18,167

 
$
(110,636
)
 
$
62,372



Statement of Comprehensive Income for the Six Months Ended June 30, 2018 (unaudited):

 
Parent Issuer
 

Guarantor
 
CCR Non-Guarantor
 
Non-
Guarantor
 
Elimination
 
Consolidated
Net Income (Loss)
$
107,570

 
$
117,169

 
$
41,333

 
$
(1,568
)
 
$
(140,837
)
 
$
123,667

Other Comprehensive Income (Loss):
 
 
 
 
 
 
 
 
 
 
 
Net Actuarial Gain (Loss)
8,183

 
 
 
(4
)
 

 

 
8,179

Other Comprehensive Income (Loss)
8,183

 

 
(4
)
 

 

 
8,179

Comprehensive Income (Loss)
115,753

 
117,169

 
41,329

 
(1,568
)
 
(140,837
)
 
131,846

Less: Comprehensive Income Attributable to Noncontrolling Interest

 

 

 

 
16,098

 
16,098

Comprehensive Income (Loss) Attributable to CONSOL Energy Inc. Shareholders
$
115,753

 
$
117,169

 
$
41,329

 
$
(1,568
)
 
$
(156,935
)
 
$
115,748