Financial Analysis

"COMMITMENTS AND CONTINGENT LIABILITIES: CNX and its subsidiaries are subject to various lawsuits and claims with respect to such matters as personal injury, royalty accounting, damage to property, climate change, governmental regulations including environmental violations and remediation, employment and contract disputes and other claims and actions arising out of the normal course of business. CNX accrues the estimated loss for these lawsuits and claims when the loss is probable and can be estimated. The Company's current estimated accruals related to these pending claims, individually and in the aggregate, are immaterial to the financial position, results of operations or cash flows of CNX. It is possible that the aggregate loss in the future with respect to these lawsuits and claims could ultimately be material to the financial position, results of operations or cash flows of CNX; however, such amounts cannot be reasonably estimated. The 1992 Coal Industry Retiree Health Benefit Act (""Coal Act""), in Section 9711, requires coal companies that were providing health benefits to United Mine Workers of America (""UMWA"") retirees as of February 1993 to continue providing health benefits to such individuals, in substantially the same coverages, for as long as the last signatory operator remains in business. Section 9711 also requires any ""related person"" to be joint and severally liable for the provision of these health benefits. On May 1, 2020, the court in the Murray Ener …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

The following table is a disaggregation of revenue by major source: For the Years Ended December 31, 2025 2024 2023 Revenue from Contracts with Customers: Natural Gas Revenue $ 1,736,693 $ 986,028 $ 1,131,068 NGL Revenue 168,574 190,374 157,573 Oil/Condensate Revenue 8,461 9,675 13,577 Total Natural Gas, NGL and Oil Revenue 1,913,728 1,186,077 1,302,218 Purchased Gas Revenue 45,349 59,467 74,218 Other Sources of Revenue and Other Operating Income: Gain (Loss) on Commodity Derivative Instruments 96,661 (172,405) 1,928,652 Other Revenue and Operating Income 183,396 193,647 129,860 Total Revenue and Other Operating Income $ 2,239,134 $ 1,266,786 $ 3,434,948

DisaggregationOfRevenueTableTextBlock

STOCK-BASED COMPENSATION: CNX's Equity Incentive Plan provides for grants of stock-based awards to key employees and to non-employee directors. Amendments to the Equity Incentive Plan have been adopted and approved by the Board of Directors and the Company's shareholders since the commencement of the Equity Incentive Plan. Most recently, in May 2020, the Company's shareholders adopted and approved a 10,775,000 increase to the total number of shares available for issuance. At December 31, 2025, 3,833,203 shares of common stock remained available for grant under the plan. The Equity Incentive Plan provides that the aggregate number of shares available for issuance will be reduced by one share for each share relating to stock options and by 1.62 for each share relating to Performance Share Units (PSUs) or Restricted Stock Units (RSUs). No award of stock options may be exercised under the Equity Incentive Plan after the ten th anniversary of the grant date of the award. For those shares expected to vest, CNX recognizes stock-based compensation costs on a straight-line basis over the requisite service period of the award, which is generally the vesting term. RSUs vest over a three-year term. PSUs typically vest over a three-year cliff term unless otherwise noted. Special PSUs granted in August 2023 and January 2025 vest over a seven-year term. All PSUs are subject to specific performance conditions. If an employee leaves the Company, all unvested shares are forfeited. CNX recogniz …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

FAIR VALUE OF FINANCIAL INSTRUMENTS: CNX determines the fair value of assets and liabilities based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The fair values are based on assumptions that market participants would use when pricing an asset or liability, including assumptions about risk and the risks inherent in valuation techniques and the inputs to valuations. The fair value hierarchy is based on whether the inputs to valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources (including NYMEX forward curves, LIBOR and SOFR-based discount rates and basis forward curves), while unobservable inputs reflect the Company's own assumptions of what market participants would use. The fair value hierarchy includes three levels of inputs that may be used to measure fair value as described below: Level 1 - Quoted prices for identical instruments in active markets. Level 2 - The fair value of the assets and liabilities included in Level 2 are based on standard industry income approach models that use significant observable inputs, including NYMEX forward curves, LIBOR and SOFR-based discount rates and basis forward curves. Level 3 - Unobservable inputs significant to the fair value measurement supported by little or no market activity. …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

GOODWILL AND OTHER INTANGIBLE ASSETS: Impairment of Goodwill: All goodwill is attributed to the Midstream reporting unit within the Shale segment. Goodwill is evaluated for impairment at least annually and whenever events or changes in circumstance indicate that the fair value of a reporting unit is less than its carrying amount. In connection with the evaluation of goodwill for impairment, CNX may first consider qualitative factors to assess whether there are indicators that it is more likely than not that the fair value of a reporting unit may not exceed its carrying amount. If after assessing such factors or circumstances, CNX determines it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, then a quantitative assessment is not required. If CNX chooses to bypass the qualitative assessment, or if it chooses to perform a qualitative assessment but is unable to qualitatively conclude that no impairment has occurred, then CNX will perform a quantitative assessment. If the estimated fair value of a reporting unit is less than its carrying value, an impairment charge is recognized for the excess of the reporting unit's carrying value over its fair value. The Company uses a combination of the income approach (generally a discounted cash flow method) and market approach (which may include the guideline public company method and/or the guideline transaction method) to estimate the fair value of a reporting unit. For the Companys ann …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

"INCOME TAXES: In December 2023, the FASB issued ASU 2023-09 - Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances the transparency and decision usefulness of income tax disclosures. The amendments address more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The ASU also includes certain other amendments to improve the effectiveness of income tax disclosures. The amendments in this ASU are effective for public business entities for annual periods beginning after December 15, 2024 and may be applied prospectively or retrospectively. Effective for the year ended December 31, 2025, we have retrospectively adopted this guidance, which did not have an impact on our financial statements, although it did result in expanded income tax-related disclosures, which are included below. Income tax expense (benefit) provided on earnings consisted of: For the Years Ended December 31, 2025 2024 2023 Current: U.S. Federal $ 421 $ 756 $ U.S. State 8,148 3,245 4,777 8,569 4,001 4,777 Deferred: U.S. Federal 132,228 (27,917) 455,224 U.S. State 28,982 (5,952) 42,208 161,210 (33,869) 497,432 Total Income Tax Expense (Benefit) $ 169,779 $ (29,868) $ 502,209 The components of the net deferred taxes are as follows: December 31, 2025 2024 Deferred Tax Assets: Net Operating Loss- Federal $ 149,684 $ 137,476 Federal Tax Credits 79,118 44,457 Section 174 Expe …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

LEASES: CNX's leasing activities primarily consist of operating and finance leases for electric fracturing equipment, natural gas drilling rigs, CNX's corporate headquarters as well as field offices, a natural gas gathering pipeline and commercial vehicles. Some leases include options to renew ranging from a period of 1 to 5 years, which are not recognized as part of the lease right-of-use (ROU) assets or liabilities as they are not reasonably certain to be exercised. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of the lease payments over the lease term. As most of CNX's leases do not provide an implicit rate, an incremental borrowing rate is used to determine the present value of lease payments. In accordance with ASC 842, it is the Companys policy to exclude leases with a term of 12 months or less and to not separate lease components from non-lease components for any asset class. On January 2, 2024, CNX entered into a new lease for an electric-powered drilling system that is expected to result in a finance lease asset, to be included within property, plant and equipment, and as a finance lease obligation of $18,823 in 2026, which is when the lease is expected to commence. The components of lease cost were as follows: For the Years Ended December 31, 2025 2024 2023 Operating Lease Cost $ 58,694 $ 60,572 $ 63,087 Finance Lease Cost: Amortization of Right-of-Use Assets 7,054 2,898 1,628 Interest on Lease Liabilities …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"LONG-TERM DEBT: December 31, 2025 2024 Senior Notes due March 2032 at 7.25% (Principal of $600,000 and $400,000 less Unamortized Discount of $5,160 and $4,479, respectively) $ 594,840 $ 395,521 Senior Notes due January 2029 at 6.00%, Issued at Par Value 500,000 500,000 Senior Notes due January 2031 at 7.375% (Principal of $500,000 less Unamortized Discount of $3,800 and $4,554, respectively) 496,200 495,446 CNX Midstream Partners LP Senior Notes due April 2030 at 4.75% (Principal of $400,000 less Unamortized Discount of $2,500 and $3,077, respectively)* 397,500 396,923 Convertible Senior Notes due May 2026 at 2.25% (Principal of $208,556 and $330,654 less Unamortized Discount and Issuance Costs of $425 and $2,658, respectively) 208,131 327,996 CNX Revolving Credit Facility 200,000 43,450 CNX Midstream Partners LP Revolving Credit Facility* 32,750 16,050 Less: Unamortized Debt Issuance Costs 8,062 9,386 $ 2,421,359 $ 2,166,000 Less: Current Portion 208,095 327,766 Long-Term Debt $ 2,213,264 $ 1,838,234 *CNX is not a guarantor of CNXM's 4.75% Senior Notes due April 2030 or the CNXM Credit Facility. At December 31, 2025, annual undiscounted maturities of CNX and CNXM long-term debt during the next five years and thereafter are as follows: Year ended December 31, Amount 2026 $ 208,556 2027 2028 2029 732,750 2030 400,000 Thereafter 1,100,000 Total Long-Term Debt Maturities $ 2,441,306 On December 15, 2025, CNX entered into a privately negotiated exchange agreement (the exchange a …

LongTermDebtTextBlock · excerpt; the full note is in the filing

Recent Accounting Pronouncements: In December 2025, the FASB issued Accounting Standards Update (ASU) 2025-11 - Interim Reporting - Narrow-Scope Improvements. The amendments in this ASU clarify interim disclosure requirements and the applicability of Topic 270. It does not fundamentally change the nature of interim reporting or expand/reduce disclosure requirements but makes the guidance easier to navigate and apply. This ASU compiles as list of required interim disclosures from across the GAAP Codification into ASC 270, making it easier for preparers to identify what disclosures are required for interim periods. The amendments in this ASU are effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. The Company is still evaluating the impact of the adoption of this ASU. In July 2025, the FASB issued ASU 2025-05 Financial Instruments - Credit Losses- Measurement of Credit Losses for Accounts Receivable and Contract Assets. This ASU amends the current expected credit loss (CECL) model for current accounts receivable and contract assets arising from transactions accounted for under Topic 606. In developing reasonable and supportable forecasts as part of estimating expected credit losses, a practical expedient may be elected that assumes the current conditions of the balance sheet date do not change for the remaining life of the asset. The amendments in this ASU are effective for annual reporting periods beginning after December 1 …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

PENSION: The benefits for the Defined Contribution Restoration Plan were frozen effective July 1, 2018. Employees hired after this date are not eligible for this benefit plan. In addition, current participants receive no further compensation credits after that date, with the last award being 2017. Annual interest credits will continue to be made in accordance with the terms of the plan. The current portion of the pension obligation is included in Other Accrued Liabilities and the noncurrent portion is included in Other Liabilities in the Consolidated Balance Sheets. The reconciliation of changes in the benefit obligation, plan assets and funded status of the pension benefits is as follows: December 31, 2025 2024 Change in Benefit Obligation: Benefit Obligation at Beginning of Period $ 31,699 $ 33,541 Interest Cost 1,653 1,657 Actuarial Loss (Gain) 328 (1,696) Benefits and Other Payments (1,809) (1,803) Benefit Obligation at End of Period $ 31,871 $ 31,699 Change in Plan Assets: Fair Value of Plan Assets at Beginning of Period $ $ Company Contributions 1,809 1,803 Benefits and Other Payments (1,809) (1,803) Fair Value of Plan Assets at End of Period $ $ Funded Status: Current Liabilities $ (2,647) $ (1,908) Noncurrent Liabilities (29,224) (29,791) Net Obligation Recognized $ (31,871) $ (31,699) Amounts Recognized in Accumulated Other Comprehensive Loss Consist of: Net Actuarial Loss $ 7,402 $ 7,235 Prior Service Cost 399 620 Total 7,801 7,855 Less: Tax Benefit 2,122 2,143 Net …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

REVENUE FROM CONTRACTS WITH CUSTOMERS: Revenues are recognized when control of the promised goods or services is transferred to the Companys customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company has elected to exclude all taxes from the measurement of transaction price. For natural gas, NGL and oil, and purchased gas revenue, the Company generally considers the delivery of each unit (MMBtu or Bbl) to be a separate performance obligation that is satisfied upon delivery. Payment terms for these contracts typically require payment within 25 days of the end of the calendar month in which the hydrocarbons are delivered. A significant number of these contracts contain variable consideration because the payment terms refer to market prices at future delivery dates. In these situations, the Company has not identified a standalone selling price because the terms of the variable payments relate specifically to the Companys efforts to satisfy the performance obligations. A portion of the contracts contain fixed consideration (i.e., fixed price contracts or contracts with a fixed differential to NYMEX or index prices). The fixed consideration is allocated to each performance obligation on a relative standalone selling price basis. For these contracts, the Company generally concludes that the fixed price or fixed differentials in the contracts are representative of the standalone selling price. Re …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

SEGMENT INFORMATION: The Company reports segment information based on the management approach. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Companys reportable segments. Operating segments are components of an enterprise for which discrete financial information is available and regularly evaluated by the Chief Operating Decision Maker (CODM) for resource allocation and performance assessment. The Company's CODM is its Chief Executive Officer. The Companys segment structure reflects the financial information and reports used by the CODM to make decisions regarding the Companys business, including resource allocations and performance assessments, as well as the current operating focus. CNX's principal activity is to produce pipeline quality natural gas for sale primarily to gas wholesalers, and the Company has two reportable segments that conduct those operations: Shale and Coalbed Methane. The Other Segment includes nominal shallow oil and gas production which is not significant to the Company. It also includes the Company's purchased gas activities, unrealized gain or loss on commodity derivative instruments, exploration and production related other costs, sales of environmental attributes, as well as various other expenses that are managed outside the reportable segments as discussed below. The CODM evaluates the performance of the Companys reportable segments using Income (Lo …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

SIGNIFICANT ACCOUNTING POLICIES: A summary of the significant accounting policies of CNX Resources Corporation and subsidiaries (CNX or the Company) is presented below. These, together with the other notes that follow, are an integral part of the Consolidated Financial Statements. Basis of Consolidation: The Consolidated Financial Statements include the accounts of CNX Resources Corporation, its wholly-owned subsidiaries, and its majority-owned and/or controlled subsidiaries. Investments in business entities in which CNX does not have control but has the ability to exercise significant influence over the operating and financial policies, are accounted for under the equity method. All significant intercompany transactions and accounts have been eliminated in consolidation. Investments in oil and natural gas producing entities are accounted for under the proportionate consolidation method. Use of Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, as well as various disclosures. Actual results could differ from those estimates. The most significant estimates included in, but not limited to, the preparation of the consolidated financial statements are related to long-lived assets (including intangible assets and goodwill), accounts receivable credit losses, …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

"COMMITMENTS AND CONTINGENT LIABILITIES: CNX and its subsidiaries are subject to various lawsuits and claims with respect to such matters as personal injury, royalty accounting, damage to property, climate change, governmental regulations including environmental violations and remediation, employment and contract disputes and other claims and actions arising out of the normal course of business. CNX accrues the estimated loss for these lawsuits and claims when the loss is probable and can be estimated. The Company's current estimated accruals related to these pending claims, individually and in the aggregate, are immaterial to the financial position, results of operations or cash flows of CNX. It is possible that the aggregate loss in the future with respect to these lawsuits and claims could ultimately be material to the financial position, results of operations or cash flows of CNX; however, such amounts cannot be reasonably estimated. The 1992 Coal Industry Retiree Health Benefit Act (""Coal Act""), in Section 9711, requires coal companies that were providing health benefits to United Mine Workers of America (""UMWA"") retirees as of February 1993 to continue providing health benefits to such individuals, in substantially the same coverages, for as long as the last signatory operator remains in business. Section 9711 also requires any ""related person"" to be joint and severally liable for the provision of these health benefits. On May 1, 2020, the court in the Murray Ener …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

The following table is a disaggregation of revenue by major source: For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Revenue from Contracts with Customers: Natural Gas Revenue $ 326,878 $ 443,564 $ 985,488 $ 938,756 NGL Revenue 57,772 39,820 117,832 93,821 Oil/Condensate Revenue 4,785 1,645 8,158 3,546 Total Natural Gas, NGLs and Oil Revenue 389,435 485,029 1,111,478 1,036,123 Purchased Gas Revenue 12,456 10,408 25,143 21,959 Other Sources of Revenue and Other Operating Income: Gain (Loss) on Commodity Derivative Instruments 176,336 421,121 180,317 (107,099) Other Revenue and Operating Income 40,257 45,864 88,200 93,828 Total Revenue and Other Operating Income $ 618,484 $ 962,422 $ 1,405,138 $ 1,044,811

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FAIR VALUE OF FINANCIAL INSTRUMENTS: CNX determines the fair value of assets and liabilities based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The fair values are based on assumptions that market participants would use when pricing an asset or liability, including assumptions about risk and the risks inherent in valuation techniques and the inputs to valuations. The fair value hierarchy is based on whether the inputs to valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources (including NYMEX forward curves, LIBOR and SOFR-based discount rates and basis forward curves), while unobservable inputs reflect the Company's own assumptions of what market participants would use. The fair value hierarchy includes three levels of inputs that may be used to measure fair value as described below: Level 1 - Quoted prices for identical instruments in active markets. Level 2 - The fair value of the assets and liabilities included in Level 2 are based on standard industry income approach models that use significant observable inputs, including NYMEX forward curves, LIBOR and SOFR-based discount rates and basis forward curves. Level 3 - Unobservable inputs significant to the fair value measurement supported by little or no market activity. …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

GOODWILL AND OTHER INTANGIBLE ASSETS: Goodwill: All goodwill is attributed to the Midstream reporting unit within the Shale segment. Goodwill is evaluated for impairment at least annually and whenever events or changes in circumstance indicate that the fair value of a reporting unit is less than its carrying amount. The accumulated impairment loss on goodwill is $473,045, resulting in a carrying value of $323,314 at both June 30, 2026 and December 31, 2025. Other Intangible Assets: The carrying amount and accumulated amortization of other intangible assets consist of the following: June 30, 2026 December 31, 2025 Other Intangible Assets: Gross Amortizable Asset - Customer Relationships $ 109,752 $ 109,752 Less: Accumulated Amortization - Customer Relationships 55,695 52,419 Total Other Intangible Assets, net $ 54,057 $ 57,333 The customer relationship intangible asset is being amortized on a straight-line basis over approximately 17 years. Amortization expense related to other intangible assets for both the three and six months ended June 30, 2026 and 2025 was $1,638 and $3,276, respectively. The estimated annual amortization expense is expected to approximate $6,552 per year for each of the next five years.

GoodwillAndIntangibleAssetsDisclosureTextBlock

INCOME TAXES: The effective tax rates for the three and six months ended June 30, 2026 were 14.3% and 17.2%, respectively. The effective tax rates for the three and six months ended June 30, 2025 were 26.1% and 24.9%, respectively. The effective tax rate for the three and six months ended June 30, 2026 and 2025 differs from the U.S. federal statutory rate of 21% primarily due to the impact of equity compensation, federal tax credits, and state taxes. Specifically related to certain monetized federal tax credits, the Company recorded an increase in income tax benefit of $11,040 during the six months ended June 30, 2026. On July 1, 2026, the Company monetized these credits for approximately $30,000. The total amount of uncertain tax positions at June 30, 2026 and December 31, 2025 was $131,334 and $129,034, respectively. If these uncertain tax positions were recognized, approximately $131,334 and $129,034 would affect CNX's effective tax rate at June 30, 2026 and December 31, 2025, respectively. In 2026, CNX recognized an increase in unrecognized tax benefits of $2,300 for tax benefits resulting from tax positions anticipated to be claimed on our 2026 federal income tax return for additional federal tax credits. CNX recognizes accrued interest and penalties related to uncertain tax positions in interest expense and income tax expense, respectively. As of June 30, 2026 and December 31, 2025, CNX had no accrued liabilities for interest and penalties related to uncertain tax posit …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

"LONG-TERM DEBT: June 30, 2026 December 31, 2025 Senior Notes due March 2032 at 7.25% (Principal of $600,000 less Unamortized Discount of $4,742 and $5,160, respectively) $ 595,258 $ 594,840 Senior Notes due March 2034 at 5.875%, Issued at Par Value 500,000 Senior Notes due January 2031 at 7.375% (Principal of $500,000 less Unamortized Discount of $3,423 and $3,800, respectively) 496,577 496,200 CNX Midstream Partners LP Senior Notes due April 2030 at 4.75% (Principal of $400,000 less Unamortized Discount of $2,212 and $2,500, respectively)* 397,788 397,500 CNX Revolving Credit Facility 155,650 200,000 CNX Midstream Partners LP Revolving Credit Facility* 90,000 32,750 Senior Notes due January 2029 at 6.00%, Issued at Par Value 500,000 Convertible Senior Notes due May 2026 at 2.25% (Principal of $208,556 less Unamortized Discount and Issuance Costs $425) 208,131 Less: Unamortized Debt Issuance Costs 11,528 8,062 2,223,745 2,421,359 Less: Current Portion 208,095 Long-Term Debt $ 2,223,745 $ 2,213,264 *CNX is not a guarantor of CNXM's 4.75% Senior Notes due April 2030 or the CNXM Credit Facility. During the six months ended June 30, 2026, CNX issued $500,000 aggregate principal amount of 5.875% Senior Notes due March 2034 (the ""New Notes"") at 100.0% of par. The New Notes, along with the related guarantees, were issued pursuant to an indenture, dated February 26, 2026, among the Company, the subsidiary guarantors party thereto and UMB Bank, N.A., as trustee. The New Notes are g …

LongTermDebtTextBlock · excerpt; the full note is in the filing

In November 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2024-03 - Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40). This ASU requires entities to disaggregate any relevant expense caption presented on the face of the income statement within continuing operations into the following required natural expense categories within the footnotes, as applicable: (1) purchases of inventory, (2) employee compensation, (3) depreciation, (4) intangible asset amortization, and (5) DD&A recognized as part of oil- and gas-producing activities or other depletion expenses. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is still evaluating the impact of the adoption of this ASU. In May 2026, the FASB issued ASU 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818). The standard establishes guidance for the recognition, measurement, presentation and disclosure of environmental credits and environmental credit obligations. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2027, including interim reporting periods within those annual periods. Early adoption is permitted. The Company is evaluating the impact that adoption of this ASU will have on its conso …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

REVENUE FROM CONTRACTS WITH CUSTOMERS: Revenues are recognized when control of the promised goods or services is transferred to the Companys customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company has elected to exclude all taxes from the measurement of transaction price. For natural gas, NGLs and oil, and purchased gas revenue, the Company generally considers the delivery of each unit (MMBtu or Bbl) to be a separate performance obligation that is satisfied upon delivery. Payment terms for these contracts typically require payment within 25 days of the end of the calendar month in which the hydrocarbons are delivered. A significant number of these contracts contain variable consideration because the payment terms refer to market prices at future delivery dates. In these situations, the Company has not identified a standalone selling price because the terms of the variable payments relate specifically to the Companys efforts to satisfy the performance obligations. A portion of the contracts contain fixed consideration (i.e., fixed price contracts or contracts with a fixed differential to NYMEX or index prices). The fixed consideration is allocated to each performance obligation on a relative standalone selling price basis. For these contracts, the Company generally concludes that the fixed price or fixed differentials in the contracts are representative of the standalone selling price. R …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"SEGMENT INFORMATION: The Company reports segment information based on the management approach. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Companys reportable segments. Operating segments are components of an enterprise for which discrete financial information is available and regularly evaluated by the Chief Operating Decision Maker (""CODM"") for resource allocation and performance assessment. The Company's CODM is its Chief Executive Officer. The Companys segment structure reflects the financial information and reports used by the CODM to make decisions regarding the Companys business, including resource allocations and performance assessments, as well as the current operating focus. CNX's principal activity is to produce pipeline quality natural gas for sale primarily to gas wholesalers, and the Company has two reportable segments that conduct those operations: Shale and Coalbed Methane. The Other Segment includes nominal shallow oil and gas production which is not significant to the Company. It also includes the Company's purchased gas activities, unrealized gain or loss on commodity derivative instruments, exploration and production related other costs, sales of environmental attributes, as well as various other expenses that are managed outside the reportable segments as discussed below. The CODM evaluates the performance of the Companys reportable segments using Incom …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing