Concentration of Credit Risk and Major Customers

12 Months Ended

Dec. 31, 2023

Concentration of Credit Risk and Major Customers

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS:

The Company has contractual relationships with certain coal exporters who distribute coal to international markets. For the years ended December 31, 2023, 2022 and 2021, approximately 66%, 53% and 46%, respectively, of the Company's coal revenues were derived from these exporters and other foreign customers. The Company uses the end usage point as the basis for attributing tons to individual countries. Because title to the Company's export shipments typically transfers to customers at a point that does not necessarily reflect the end usage point, the Company attributes export tons to the country with the end usage point, if known. India was attributed greater than 10% of total revenue during the years ended December 31, 2023 and 2021. India and Europe were attributed greater than 10% of total revenue during the year ended December 31, 2022. CONSOL Energy also markets its thermal coal to electric power producers in the eastern United States. Revenues generated from electric power producers and other customers in the eastern United States were 34%, 47% and 54% for the years ended December 31, 2023, 2022 and 2021, respectively.

During the years ended December 31, 2023 and 2022, two customers each comprised over 10% of the Company's total sales, aggregating approximately 23% and 30%, respectively, of the Company's total sales. During the year ended December 31, 2021, three customers each comprised over 10% of the Company's total sales, aggregating approximately 40% of the Company's total sales. Additionally, three of the Company's customers each had outstanding balances in excess of 10% of the total trade receivable balance as of December 31, 2023 and 2022.

Concentration of credit risk is summarized below:


	December 31,
	2023		2022
Electric coal utilities	$	28,870	$	82,608
Coal exporters and industrial customers	85,080		51,548
Steel and coke producers	29,340		24,230
Other	4,788		1,472
Total Trade Receivables	148,078		159,858
Less: Allowance for credit losses	(466)		(1,731)
Total Trade Receivables, net	$	147,612	$	158,127