Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table presents the absolute notional amounts related to open positions on NW Natural derivative instruments:

	June 30,				December 31,
In thousands	2020		2019		2019
Natural gas (in therms):
Financial	654,145		466,280		651,540
Physical	570,600		564,500		512,849
Foreign exchange	$	7,176	$	7,552	$	6,650

Income Statement Presentation of Derivative Instruments

The following table reflects the income statement presentation for the unrealized gains and losses from NW Natural's derivative instruments, which also represents all derivative instruments at NW Holdings:

	Three Months Ended June 30,
	2020						2019
In thousands	Natural gas commodity			Foreign exchange			Natural gas commodity			Foreign exchange
Benefit (expense) to cost of gas	$	5,492		$	459		$	(5,143	)	$	246
Operating revenues (expense)	754			—			(4,333		)	—
Amounts deferred to regulatory accounts on balance sheet	(6,119		)	(459		)	8,847			(246		)
Total gain (loss) in pre-tax earnings	$	127		$	—		$	(629	)	$	—

	Six Months Ended June 30,
	2020						2019
In thousands	Natural gas commodity			Foreign exchange			Natural gas commodity			Foreign exchange
Benefit (expense) to cost of gas	$	149		$	(7	)	$	1,864		$	157
Operating revenues (expense)	(1,679		)	—			(1,966		)	—
Amounts deferred to regulatory accounts on balance sheet	1,286			7			(182		)	(157		)
Total gain (loss) in pre-tax earnings	$	(244	)	$	—		$	(284	)	$	—