Form 8-K
8-K — CNX Resources Corp
Accession: 0001070412-26-000064
Filed: 2026-10-29
Period: 2026-10-29
CIK: 0001070412
SIC: 1311 (CRUDE PETROLEUM & NATURAL GAS)
Item: Results of Operations and Financial Condition
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — cnx-20261029.htm (Primary)
EX-99.1 (ex991supplementalq326.htm)
GRAPHIC (cnxlogo2a03a.jpg)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K
8-K (Primary)
Filename: cnx-20261029.htm · Sequence: 1
cnx-20261029
0001070412truefalse00010704122026-10-292026-10-290001070412us-gaap:CommonStockMember2026-10-292026-10-290001070412cnx:PreferredSharePurchaseRightsMember2026-10-292026-10-29
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): October 29, 2026
CNX Resources Corporation
(Exact name of registrant as specified in its charter)
Delaware 001-14901 51-0337383
(State or other jurisdiction
of incorporation) (Commission File Number) (IRS Employer
Identification No.)
CNX Center
1000 Horizon Vue Drive
Canonsburg, Pennsylvania 15317
(Address of principal executive offices)
(Zip code)
Registrant's telephone number, including area code:
(724) 485-4000
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of exchange on which registered
Common Stock ($.01 par value) CNX New York Stock Exchange
Preferred Share Purchase Rights -- New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Item 2.02 Results of Operations and Financial Condition.
CNX Resources Corporation (“CNX” or the “Company”) today released financial and operational results for the third quarter 2026 by posting those results on its website. A copy of those results is attached to this Current Report as Exhibit 99.1 and incorporated into this Item 2.02 by reference.
The information furnished pursuant to this Item 2.02 and Item 7.01, including Exhibit 99.1, are being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be incorporated by reference into any filing under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.
Item 7.01 Regulation FD
The information set forth under Item 2.02 is incorporated into this Item 7.01 by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit 99.1
3Q 2026 Earnings Results & Supplemental Information of CNX Resources Corporation
Exhibit 104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CNX RESOURCES CORPORATION
By: /s/ Ravi Srivastava
Ravi Srivastava
Chief Financial Officer
Dated: October 29, 2026
EX-99.1
EX-99.1
Filename: ex991supplementalq326.htm · Sequence: 2
Document
3Q 2026 Earnings Results &
Supplemental Information of CNX Resources
TABLE OF CONTENTS: Page:
Production Volumes and Activity Summary........................................................................................................................ 2
Hedge Volumes and Pricing…........................................................................................................................................... 3
Gas Hedging Gain/Loss Projections and Actuals.............................................................................................................. 4
Consolidated Statements of Income.................................................................................................................................. 5
Consolidated Balance Sheets............................................................................................................................................ 6
Consolidated Statements of Cash Flows…....................................................................................................................... 7
Market Mix and Natural Gas Price Reconciliation….......................................................................................................... 8
Price and Cost Data (Per Mcfe)......................................................................................................................................... 9
Guidance…........................................................................................................................................................................ 10
Definitions.......................................................................................................................................................................... 11
Sales of Natural Gas, NGL and Oil, including Cash Settlements and Natural Gas, NGL and Oil Production Costs.........
12
Quarterly Adjusted EBITDAX and Adjusted Net Income.................................................................................................... 13
Operating Margin............................................................................................................................................................... 14
Cash Operating Margin...................................................................................................................................................... 15
Net Debt and Adjusted EBITDAX TTM.............................................................................................................................. 16
Free Cash Flow.................................................................................................................................................................. 17
Risk Factors....................................................................................................................................................................... 18
NOTE: Please note that CNX is unable to provide a reconciliation of non-GAAP projected financial results contained in this presentation, including the non-GAAP measures referenced above, to their respective comparable financial measure calculated in accordance with GAAP. This is due to our inability to calculate the comparable GAAP projected metrics, including operating income, net cash provided by operating activities and total production costs, given the unknown effect, timing, and potential significance of certain income statement items.
PRODUCTION VOLUMES
GAS Q3-2026 Q2-2026 Q1-2026 Q4-2025 Q3-2025
Shale Sales Volumes (Bcf) 132.8 126.5 129.8 130.5 139.2
CBM Sales Volumes (Bcf) 9.4 9.7 9.1 9.4 9.7
Other Sales Volumes (Bcf) 0.1 0.1 0.1 0.1 0.1
LIQUIDS*
NGLs Sales Volumes (Bcfe) 13.8 14.8 13.1 12.1 12.0
Oil and Condensate Sales Volumes (Bcfe) 0.2 0.4 0.3 0.2 0.3
TOTAL (Bcfe) 156.3 151.5 152.4 152.3 161.3
Average Daily Production (MMcfe) 1,699.2 1,664.8 1,693.0 1,654.8 1,753.3
* NGLs, Oil and Condensate are converted to Mcfe at the rate of one barrel equals six Mcf based upon the approximate relative energy content of oil and natural gas, which is not indicative of the relationship of oil, NGLs, condensate, and natural gas prices.
Q3 2026 ACTIVITY SUMMARY TD Frac TIL
Average Lateral Length(1)
Rigs at Period End
SWPA Marcellus — 12 12 12,600 —
Utica — — — — —
CPA Marcellus — — — — —
Utica 2 — — — 1
Total 2 12 12 1
(1) Measured in lateral feet from perforation to perforation.
2
NATURAL GAS HEDGE VOLUMES AND PRICING(1)
Q4 2026 2026 2027 2028 2029
NYMEX Hedges
Volumes (Bcf) 89.2 357.5 265.8 185.6 34.7
Average Prices ($/Mcf) $3.54 $3.53 $4.16 $3.98 $3.85
Physical Fixed Price Sales and Index Hedges
Volumes (Bcf) 25.7 103.7 143.6 47.5 3.5
Average Prices ($/Mcf) $2.67 $2.64 $3.30 $3.10 $3.03
Total Volumes Hedged (Bcf)(2)
115.0 461.2 409.4 233.1 38.2
NYMEX + Basis (fully-covered volumes)(3)
Volumes (Bcf) 110.1 447.2 409.4 233.1 38.2
Average Prices ($/Mcf) $2.72 $2.73 $3.30 $3.20 $3.32
NYMEX Hedges Exposed to Basis
Volumes (Bcf) 4.82 14.0 - - -
Average Prices ($/Mcf) $3.54 $3.53 - - -
Total Volumes Hedged (Bcf)(2)
115.0 461.2 409.4 233.1 38.2
Estimated Conversion Factor(4)
1.072 1.059 1.068 1.060 1.052
(1) Hedge positions as of 10/14/2026.
(2) Excludes basis hedges in excess of NYMEX hedges of 2.0 Bcf, 61.7 Bcf, and 19.3 Bcf for 2027, 2028, and 2029, respectively.
(3) Includes the impact of NYMEX and basis-only hedges as well as physical sales agreements.
(4) To convert Bcf to TBtu, multiply by conversion factor; to convert $/Mcf to $/MMBtu, divide by conversion factor.
3
HEDGING GAIN/LOSS PROJECTIONS
Q4 2026 CY2026 CY2027
Hedged Volumes Wtd. Avg. Average Forecasted Hedged Volumes Wtd. Avg. Average Forecasted Hedged Volumes Wtd. Avg. Average Forecasted
($/MMBtu) (000 MMBtu) Hedged Price
Forward Market(1)
Gain/(Loss)(2) ($ in 000s)
(000 MMBtu) Hedged Price
Forward Market(1)
Gain/(Loss)(2) ($ in 000s)
(000 MMBtu) Hedged Price
Forward Market(1)
Gain/(Loss)(2) ($ in 000s)
NYMEX 95,680 $3.30 $3.25 $4,829 378,670 $3.34 $3.54 ($64,771) 283,788 $3.90 $3.26 $181,335
Index 27,600 $2.49 $2.26 $6,453 109,500 $2.49 $2.78 ($32,134) 153,300 $3.09 $2.59 $76,732
Basis:
Eastern Gas-South (DOM) 27,600 ($0.88) ($1.10) $5,840 110,060 ($0.88) ($0.88) $1,813 96,725 ($0.93) ($0.75) ($17,852)
TCO Pool (TCO) 12,190 ($0.74) ($0.94) $2,422 48,643 ($0.74) ($0.70) ($875) 62,050 ($0.75) ($0.55) ($12,763)
Michcon (NMC) 8,280 ($0.19) ($0.56) $3,020 32,850 ($0.19) ($0.40) $6,924 7,300 ($0.21) ($0.33) $877
TETCO M3 (TMT) — — ($0.49) — — — $0.25 — — — $0.48 —
TETCO M2 (BM2) 26,910 ($1.01) ($1.05) $1,280 106,763 ($1.01) ($0.84) ($17,048) 71,775 ($1.01) ($0.70) ($22,698)
STA 165 (TSD) — — ($0.36) — — — $0.03 — 3,650 $0.52 $0.71 ($642)
Total Financial Basis Hedges 74,980 $12,562 298,315 ($9,186) 241,500 ($53,077)
Total Projected Realized Gain / (Loss) $23,844 ($106,091) $204,990
Note: Forward market prices, hedged volumes, and hedge prices are as of 10/14/2026. Anticipated hedging activity is not included in projections.
(1) January 2026 through October 2026 prices are settled.
(2) Forecasted Gain/(Loss) amounts are based on sum of current monthly hedge positions vs. strip.
Actual Change in Derivatives
(Dollars in millions) Q3 2026 Q2 2026 Q1 2026 Q4-2025 Q3-2025
Realized Gain (Loss) $53 $45 ($222) ($58) $22
Unrealized Gain 108 131 226 130 110
Gain on Commodity Derivative Instruments $161 $176 $4 $72 $132
4
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
Dollars in thousands, except per share data
Revenue and Other Operating Income: Q3-2026 Q2-2026 Q1-2026 Q4-2025 Q3-2025
Natural Gas, NGL and Oil Revenue $372,516 $389,435 $722,044 $476,615 $400,990
Gain on Commodity Derivative Instruments 160,563 176,336 3,981 72,065 131,695
Purchased Gas Revenue 4,426 12,456 12,687 14,365 9,026
Other Revenue and Operating Income 42,499 40,257 47,942 47,439 42,129
Total Revenue and Other Operating Income 580,004 618,484 786,654 610,484 583,840
Costs and Expenses:
Operating Expense
Lease Operating Expense 23,839 21,262 21,770 20,700 27,127
Transportation, Gathering and Compression 94,632 103,223 102,401 93,939 97,053
Production, Ad Valorem, and Other Fees 6,669 6,546 8,789 6,534 7,725
Depreciation, Depletion and Amortization 134,645 136,232 134,613 145,134 149,323
Exploration and Production Related Other Costs 1,698 2,750 4,177 5,008 1,656
Purchased Gas Costs 5,250 12,249 12,253 13,581 8,455
Selling, General, and Administrative Costs 34,768 33,837 32,245 41,846 30,375
Other Operating Expense (Income) 19,262 24,611 (4,622) 14,640 19,178
Total Operating Expense 320,763 340,710 311,626 341,382 340,892
Other Expense (Income)
Other Expense 3,981 1,183 509 4,288 1,752
(Gain) Loss on Asset Sales and Abandonments, net (3,515) 626 (6,365) (2,410) (67,460)
Loss on Debt Extinguishment — — 12,009 842 —
Interest Expense 39,588 39,023 40,470 41,975 42,964
Total Other Expense (Income) 40,054 40,832 46,623 44,695 (22,744)
Total Costs and Expenses 360,817 381,542 358,249 386,077 318,148
Income Before Income Tax 219,187 236,942 428,405 224,407 265,692
Income Tax Expense 53,948 33,999 80,258 28,154 63,589
Net Income $165,239 $202,943 $348,147 $196,253 $202,103
Earnings per Share
Basic $1.13 $1.37 $2.45 $1.45 $1.45
Diluted $1.12 $1.32 $2.18 $1.28 $1.21
Weighted-Average Shares Outstanding Q3-2026 Q2-2026 Q1-2026 Q4-2025 Q3-2025
Weighted-Average Shares of Common Stock Outstanding 146,044,472 148,155,232 142,202,197 135,514,779 139,251,482
Effect of Diluted Shares 1,578,927 5,806,041 18,086,409 19,021,107 28,333,716
Weighted-Average Diluted Shares of Common Stock Outstanding 147,623,399 153,961,273 160,288,606 154,535,886 167,585,198
5
CONSOLIDATED BALANCE SHEETS
(Unaudited)
Dollars in thousands 30-Sep-26 30-Jun-26 31-Mar-26 31-Dec-25 30-Sep-25
ASSETS
Current Assets:
Cash and Cash Equivalents $1,977 $6,162 $3,748 $779 $4,735
Restricted Cash 2,429 2,428 2,428 12,685 10,168
Accounts and Notes Receivable
Trade, net 140,931 163,835 209,523 264,658 141,264
Other Receivables, net 28,855 25,771 27,928 61,249 56,596
Supplies Inventories 33,996 32,509 30,108 26,201 30,822
Derivative Instruments 353,295 220,712 164,572 106,068 100,076
Prepaid Expenses 19,936 19,938 20,025 18,697 17,234
Total Current Assets 581,419 471,355 458,332 490,337 360,895
Property, Plant and Equipment:
Property, Plant and Equipment 14,488,439 14,380,988 14,222,717 14,057,224 13,839,517
Less—Accumulated Depreciation, Depletion and Amortization 6,566,969 6,442,893 6,310,588 6,193,871 6,054,758
Total Property, Plant and Equipment—Net 7,921,470 7,938,095 7,912,129 7,863,353 7,784,759
Other Non-Current Assets:
Operating Lease Right-of-Use Assets 114,556 126,593 137,987 150,310 167,893
Derivative Instruments 105,011 165,543 184,261 134,396 118,387
Goodwill 323,314 323,314 323,314 323,314 323,314
Other Intangible Assets, net 52,419 54,057 55,695 57,333 58,971
Restricted Cash — — — — 2,430
Other Non-Current Assets 61,825 57,942 59,465 75,403 87,469
Total Other Non-Current Assets 657,125 727,449 760,722 740,756 758,464
TOTAL ASSETS $9,160,014 $9,136,899 $9,131,183 $9,094,446 $8,904,118
LIABILITIES AND EQUITY
Current Liabilities:
Accounts Payable $146,169 $179,800 $162,043 $158,811 $110,649
Derivative Instruments 110,001 174,882 244,321 377,945 316,729
Current Portion of Finance Lease Obligations 5,753 5,110 5,106 5,095 5,080
Current Portion of Long-Term Debt — — 208,437 208,095 329,378
Current Portion of Operating Lease Obligations 45,420 46,792 47,486 48,453 48,140
Other Accrued Liabilities 230,707 251,308 260,356 325,976 255,313
Total Current Liabilities 538,050 657,892 927,749 1,124,375 1,065,289
Non-Current Liabilities:
Long-Term Debt 2,278,924 2,223,745 2,158,416 2,213,264 2,247,199
Finance Lease Obligations 27,492 22,437 23,716 24,991 26,209
Operating Lease Obligations 71,321 82,024 93,438 104,955 122,477
Derivative Instruments 94,746 78,928 107,944 158,368 251,206
Deferred Income Taxes 1,054,659 969,080 936,137 857,367 836,354
Asset Retirement Obligations 167,968 165,693 163,692 163,051 124,460
Other Non-Current Liabilities 92,588 93,291 93,511 111,059 115,351
Total Non-Current Liabilities 3,787,698 3,635,198 3,576,854 3,633,055 3,723,256
TOTAL LIABILITIES 4,325,748 4,293,090 4,504,603 4,757,430 4,788,545
Stockholders' Equity:
Common Stock 1,440 1,491 1,420 1,427 1,360
Capital in Excess of Par Value 2,491,908 2,526,486 2,356,077 2,357,039 2,254,021
Preferred Stock — — — — —
Retained Earnings 2,346,382 2,321,367 2,274,690 1,984,229 1,865,695
Accumulated Other Comprehensive Loss (5,464) (5,535) (5,607) (5,679) (5,503)
TOTAL STOCKHOLDERS' EQUITY 4,834,266 4,843,809 4,626,580 4,337,016 4,115,573
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $9,160,014 $9,136,899 $9,131,183 $9,094,446 $8,904,118
6
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
Dollars in thousands
Cash Flows from Operating Activities: Q3-2026 Q2-2026 Q1-2026 Q4-2025 Q3-2025
Net Income $165,239 $202,943 $348,147 $196,253 $202,103
Depreciation, Depletion and Amortization 134,645 136,232 134,613 145,134 149,323
Amortization of Deferred Financing Costs 2,086 2,202 2,500 2,650 2,713
Stock-Based Compensation 7,286 5,825 5,685 4,614 5,165
(Gain) Loss on Asset Sales and Abandonments, net (3,515) 626 (6,365) (2,410) (67,460)
Loss on Debt Extinguishment — — 12,009 842 —
Gain on Commodity Derivative Instruments (160,563) (176,336) (3,981) (72,065) (131,695)
Net Cash Received (Paid) in Settlement of Commodity Derivative Instruments 39,449 40,459 (288,435) 18,441 10,405
Deferred Income Taxes 48,764 32,916 78,743 21,070 74,838
Other 227 645 463 (4) 1,351
Changes in Operating Assets:
Accounts and Notes Receivable 19,848 47,530 62,958 (115,678) 39,266
Supplies Inventories (1,487) (2,401) (3,907) 4,621 8,496
Prepaid Expenses 2 87 (1,329) (1,463) (509)
Changes in Other Assets (166) (229) 14,932 (350) (291)
Changes in Operating Liabilities:
Accounts Payable (13,991) (4,409) (9,444) 39,583 (17,917)
Accrued Interest (22,405) 20,802 (25,451) 20,452 (21,309)
Other Operating Liabilities 38,308 (27,239) (26,162) 39,258 (20,769)
Changes in Other Liabilities (201) (135) (17,463) (3,900) 51
Net Cash Provided by Operating Activities 253,526 279,518 277,513 297,048 233,761
Cash Flows from Investing Activities:
Capital Expenditures (139,152) (142,000) (169,906) (174,414) (75,544)
Proceeds from Asset Sales 15,928 367 32,428 2,449 67,793
Investments in Equity Affiliates (5,050) — (565) 7,322 —
Apex Acquisition (Net of Cash Acquired) — — (10,255) — —
Net Cash Used in Investing Activities (128,274) (141,633) (148,298) (164,643) (7,751)
Cash Flows from Financing Activities:
Payments on Long-Term Notes — — (507,965) — —
Proceeds from CNXM Revolving Credit Facility Borrowings 68,950 69,450 134,650 86,300 72,500
Repayments of CNXM Revolving Credit Facility Borrowings (91,950) (84,450) (62,400) (74,050) (74,000)
Proceeds from CNX Revolving Credit Facility Borrowings 530,350 522,900 496,450 352,500 436,350
Repayments of CNX Revolving Credit Facility Borrowings (453,150) (443,550) (620,150) (399,750) (475,550)
Proceeds from Issuance of CNX Senior Notes — — 500,000 — —
Payments on Other Debt (1,497) (1,152) (1,265) (1,375) (1,181)
Proceeds from Issuance of Common Stock 134 1,745 1,506 1,108 56
Shares Withheld for Taxes (2,033) — (15,216) (167) (348)
Purchases of Common Stock (180,240) (200,399) (54,039) (100,335) (182,374)
Debt Issuance and Financing Fees — (15) (8,074) (505) (21)
Net Cash Used in Financing Activities (129,436) (135,471) (136,503) (136,274) (224,568)
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash (4,184) 2,414 (7,288) (3,869) 1,442
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 8,590 6,176 13,464 17,333 15,891
Cash, Cash Equivalents and Restricted Cash at End of Period $4,406 $8,590 $6,176 $13,464 $17,333
7
MARKET MIX AND NATURAL GAS PRICE RECONCILIATION
2026E
Gas Sold (%)(1)
Basis(2)
Eastern Gas-South 28% ($0.89)
ETNG Mainline 4% $0.65
TCO Pool 23% ($0.78)
TETCO ELA & WLA 2% ($0.69)
TETCO M3 0% $0.22
TETCO M2 27% ($0.92)
Michcon 7% ($0.46)
Physical basis sales 9% ($0.30)
Weighted Average Basis 100% ($0.71)
NYMEX $3.54
Weighted Average Basis (Not considering hedging) ($0.71)
Realized Price (per MMBtu) $2.83
Conversion Factor (MMBtu/Mcf) 1.059
Realized Price Before Financial Hedging (per Mcf) $3.00
(1) Individual market percentages exclude physical basis sales, which are shown separately.
(2) Reflects actual realized basis for nine months ended September 30; October - December forward market basis prices as of 10/14/2026.
8
PRICE AND COST DATA (PER MCFE) - NON-GAAP
Q3-2026 Q2-2026 Q1-2026 Q4-2025 Q3-2025
Average Sales Price - Natural Gas $2.22 $2.40 $4.74 $3.12 $2.43
Average Gain (Loss) on Natural Gas Commodity Derivative Instruments - Cash Settlement $0.37 $0.33 ($1.59) ($0.42) $0.15
Average Sales Price - Oil and Condensate* $12.54 $12.29 $9.68 $8.83 $9.49
Average Sales Price - NGLs* $3.95 $3.90 $4.59 $3.15 $3.04
Average Sales Price of Natural Gas, NGL and Oil, including Cash Settlement
$2.72 $2.87 $3.28 $2.75 $2.62
Lease Operating Expense (LOE) $0.15 $0.14 $0.14 $0.14 $0.17
Production, Ad Valorem, and Other Fees $0.05 $0.05 $0.06 $0.04 $0.05
Transportation, Gathering and Compression $0.61 $0.68 $0.67 $0.62 $0.60
Depreciation, Depletion and Amortization (DD&A) $0.82 $0.86 $0.85 $0.92 $0.89
Total Natural Gas, NGL and Oil Production Costs
$1.63 $1.73 $1.72 $1.72 $1.71
Total Natural Gas, NGL and Oil Production Cash Costs, before DD&A
$0.81 $0.87 $0.87 $0.80 $0.82
Natural Gas, NGL and Oil Production Cash Margin, before DD&A $1.91 $2.00 $2.41 $1.95 $1.80
Fully Burdened Cash Costs, before DD&A(1)
$1.10 $1.19 $0.95 $1.11 $1.09
Fully Burdened Cash Margin, before DD&A $1.62 $1.68 $2.33 $1.64 $1.53
Note: "Total Natural Gas, NGL and Oil Production Costs" excludes Selling, General, and Administration and Other Operating Expenses.
*NGLs, Oil, and Condensate are converted to Mcfe at the rate of one barrel equals six Mcf based upon the approximate relative energy content of oil and natural gas, which is not indicative of the relationship of oil, NGLs, condensate, and natural gas prices.
(1) Fully burdened cash costs include production cash costs, selling, general and administrative (SG&A) cash costs, other operating cash expense, other cash expense (income), other revenue and operating income, and cash interest expense.
Q3 2026, Q2 2026, Q1 2026, Q4 2025 and Q3 2025 total fully burdened cash costs exclude a (gain)/loss on asset sales of ($0.02) per Mcfe, $0.00 per Mcfe, ($0.04) per Mcfe, ($0.02) per Mcfe and ($0.42) per Mcfe, respectively.
Q3 2026, Q2 2026, Q1 2026, Q4 2025 and Q3 2025 exclude unrealized losses on interest rate swaps and noncash amortization of $0.01 per Mcfe, $0.01 per Mcfe, $0.02 per Mcfe, $0.02 per Mcfe and $0.02 per Mcfe, respectively.
Q3 2026, Q2 2026, Q1 2026, Q4 2025 and Q3 2025, exclude loss on debt extinguishment and inventory adjustments of $0.00 per Mcfe, $0.00 per Mcfe, $0.08 per Mcfe, $0.01 per Mcfe and $0.00 per Mcfe, respectively.
Natural Gas Price Reconciliation Q3-2026 Q2-2026 Q1-2026 Q4-2025 Q3-2025
NYMEX Natural Gas ($/MMBtu) $2.95 $2.90 $5.04 $3.55 $3.07
Average Differential (0.85) (0.62) (0.55) (0.62) (0.77)
BTU Conversion (MMBtu/Mcf)* 0.11 0.12 0.25 0.19 0.12
Average Gain (Loss) on Natural Gas Commodity Derivative Instruments - Cash Settlement 0.37 0.33 (1.59) (0.42) 0.15
Realized Natural Gas Price per Mcf $2.58 $2.73 $3.15 $2.70 $2.57
*Conversion factor 1.05 1.05 1.06 1.07 1.05
9
GUIDANCE
PREVIOUS UPDATED
($ in millions) 2026E 2026E
Low High Low High
Production Volumes (Bcfe) 605.0 - 620.0 612.5 - 617.5
% Liquids ~7% - ~8% ~8% - ~9%
% of Natural Gas Hedged 81% 82%
Prices on Open Volumes(1)
Natural Gas NYMEX ($/MMBtu) 3.55 3.54
Natural Gas Differential ($/MMBtu) ($0.59) ($0.71)
NGL Realized Price ($/Bbl) ~$24.60 ~$26.95
($ in millions)
Adjusted EBITDAX(2)
$1,265 - $1,315 $1,290 - $1,310
Capital Expenditures
Drilling & Completions (D&C) $390 - $410 $405 - $410
Non-D&C $150 - $160 $150 - $160
Base Capital Expenditures $540 - $570 $555 - $570
Utica Shale rights payment $16 - $16 $16 - $16
Total Capital Expenditures 556 - 586 571 - 586
Environmental Attributes Sales Free Cash Flow (FCF) Impact(2)
~$80 ~$80
Free Cash Flow (FCF)(2)(3)
~$525 ~$550
FCF Per Share(2)(3)(4)
~$3.55 ~$3.85
(1) Forward market prices for 2026 guidance as of 10/14/2026.
(2) Non-GAAP measures. See “Non-GAAP Financial Measures” for definitions.
(3) Guidance for FCF includes approximately $50 million in expected asset sales in 2026 and approximately $30 million from the sale of 45Z tax credits for remediation activities in 2025.
(4) Previous guidance for 2026 FCF per share based on shares outstanding of 147,943,637, as of 7/15/2026. Updated guidance for 2026 FCF per share based on shares outstanding of 142,861,133, as of 10/14/2026.
2026E ACTIVITY SUMMARY TIL
Average Lateral Length(1)
SWPA Marcellus 24 13,750
CPA Marcellus 3 7,880
Utica 7 13,400
Total 34
(1) Measured in lateral feet from perforation to perforation.
10
Non-GAAP Measures (Definitions, Purpose, and Reconciliations)
CNX's management uses certain non-GAAP financial measures for planning, forecasting and evaluating business and financial performance, and believes that they are useful for investors in analyzing the company. Although these are not measures of performance calculated in accordance with generally accepted accounting principles (GAAP), management believes that these financial measures are useful to an investor in evaluating CNX because (i) analysts utilize these metrics when evaluating company performance and have requested this information as of a recent practicable date, (ii) these metrics are widely used to evaluate a company’s operating performance, and (iii) we want to provide updated information to investors. Investors should not view these metrics as a substitute for measures of performance that are calculated in accordance with GAAP. In addition, because all companies do not calculate these measures identically, these measures may not be comparable to similarly titled measures of other companies.
Definitions: EBIT is defined as earnings before deducting net interest expense (interest expense less interest income) and income taxes. EBITDAX is defined as earnings before deducting net interest expense (interest expense less interest income), income taxes, depreciation, depletion and amortization, and exploration. Adjusted EBITDAX is defined as EBITDAX after adjusting for the discrete items listed below. Although EBIT, EBITDAX, and adjusted EBITDAX are not measures of performance calculated in accordance with generally accepted accounting principles, management believes that they are useful to an investor in evaluating CNX Resources because they are widely used to evaluate a company's operating performance. We exclude stock-based compensation from adjusted EBITDAX because we do not believe it accurately reflects the actual operating expense incurred during the relevant period and may vary widely from period to period irrespective of operating results. Investors should not view these metrics as a substitute for measures of performance that are calculated in accordance with generally accepted accounting principles. In addition, because all companies do not calculate EBIT, EBITDAX or adjusted EBITDAX identically, the presentation here may not be comparable to similarly titled measures of other companies. Sales of natural gas, NGL and oil, including cash settlements excludes the impacts of changes in the fair value of commodity derivative instruments prior to settlement, which are often volatile, and only includes the impact of settled commodity derivative instruments. Natural gas, NGL and oil production costs excludes certain expenses that are not directly related to CNX’s natural gas producing activities and are managed outside our production operations. Adjusted Net Income (Loss) is defined as net income after adjusting for the discrete items listed below as well as the tax effectiveness. Operating Margins are defined as adjusted EBIT divided by Total Revenue after adjusting for unrealized (gain) loss on commodity derivative instruments. Adjusted Trailing-Twelve-Months (TTM) EBITDAX is defined as EBITDAX over the trailing-twelve-months after adjusting for the discrete items listed below. Cash Operating Margins are defined as adjusted EBITDA divided by total Revenue after adjusting for unrealized (gain) loss on commodity derivative instruments. Net Debt is defined as total long-term debt minus cash, cash equivalents, and restricted cash. Adjusted Net Debt is defined as total long-term debt plus the historical impact of recent accounting pronouncement, minus cash, cash equivalents, and restricted cash. Free Cash Flow (FCF) is defined as net cash provided by operating activities minus capital expenditures plus proceeds from asset sales and minus investments in equity affiliates.
Reconciliations of EBIT, EBITDAX, adjusted EBITDAX, adjusted EBIT, adjusted EBITDA, sales of natural gas, NGL and oil, including cash settlements, natural gas, NGL and oil production costs, adjusted net income, operating margins, cash operating margins, net debt, adjusted net debt, adjusted TTM EBITDAX and FCF to the most directly comparable GAAP financial measures are as follows:
11
Non-GAAP Measures
Sales of Natural Gas, NGL and Oil, including cash settlements excludes the impacts of changes in the fair value of commodity derivative instruments prior to settlement, which are often volatile, and only includes the impact of settled commodity derivative instruments. Sales of Natural Gas, NGL and Oil, including cash settlements is a non-GAAP measure that excludes purchased gas revenue and other revenue and operating income, which are not directly related to CNX’s natural gas producing activities. Natural Gas, NGL and Oil Production Costs is a non-GAAP measure that excludes certain expenses that are not directly related to CNX’s natural gas producing activities and are managed outside our production operations (See Note 21 - Segment Information of the Notes to the Audited Consolidated Financial Statements in Item 8 of CNX's 2025 Annual Report on Form 10-K as filed with the SEC on February 10, 2026). These expenses include, but are not limited to, interest expense and other corporate expenses such as selling, general and administrative costs in the current periods presented.
(Dollars in millions) Q3-2026 Q2-2026 Q1-2026 Q4-2025 Q3-2025
Total Revenue and Other Operating Income $580 $618 $787 $611 $584
(Deduct):
Purchased Gas Revenue (4) (12) (13) (15) (9)
Unrealized Gain on Commodity Derivative Instruments (108) (131) (226) (130) (110)
Other Revenue and Operating Income (43) (40) (48) (47) (42)
Sales of Natural Gas, NGL and Oil, including Cash Settlements, a Non-GAAP Financial Measure $425 $435 $500 $419 $423
Total Operating Expense $321 $340 $312 $342 $341
(Deduct) Add:
Depreciation, Depletion and Amortization (DD&A) - Corporate (6) (5) (6) (5) (5)
Exploration and Production Related Other Costs (2) (3) (4) (5) (2)
Purchased Gas Costs (5) (12) (12) (14) (9)
Selling, General and Administrative Costs (35) (34) (32) (42) (30)
Other Operating (Expense) Income (19) (24) 4 (15) (19)
Natural Gas, NGL and Oil Production Costs, a Non-GAAP Financial Measure1
$254 $262 $262 $261 $276
1 Natural Gas, NGL and Oil production costs consists primarily of lease operating expense, production ad valorem and other fees, transportation, gathering and compression and production related depreciation, depletion and amortization.
12
Non-GAAP Measures
EBIT is defined as earnings before deducting net interest expense (interest expense less interest income) and income taxes. EBITDAX is defined as earnings before deducting net interest expense (interest expense less interest income), income taxes, depreciation, depletion and amortization, and exploration. Adjusted EBITDAX is defined as EBITDAX after adjusting for the discrete items listed below.
(Dollars in millions) Q3-2026 Q2-2026 Q1-2026 Q4-2025 Q3-2025
Net Income $165 $203 $348 $196 $202
Interest Expense 40 39 41 42 43
Interest Income (1) — — — —
Income Tax Expense 54 34 80 28 64
Earnings Before Interest & Taxes (EBIT) 258 276 469 266 309
Depreciation, Depletion & Amortization 135 136 135 145 149
Exploration Expense 2 3 4 5 2
Earnings Before Interest, Taxes, DD&A and Exploration (EBITDAX) $395 $415 $608 $416 $460
Adjustments:
Unrealized Gain on Commodity Derivative Instruments (108) (131) (226) (130) (110)
Gain on Non-Core Asset Sale — — — — (57)
Stock-Based Compensation 7 6 6 5 5
Loss on Debt Extinguishment — — 12 1 —
Total Pre-tax Adjustments (101) (125) (208) (124) (162)
Adjusted EBITDAX $294 $290 $400 $292 $298
Adjusted Net Income is defined as net income after adjusting for the discrete items listed below as well as the related tax effect.
(Dollars in millions) Q3-2026 Q2-2026 Q1-2026 Q4-2025 Q3-2025
Net Income from EBITDAX Reconciliation $165 $203 $348 $196 $202
Adjustments:
Total Pre-tax Adjustments from EBITDAX Reconciliation (101) (125) (208) (124) (162)
Tax Effect of Adjustments 26 32 53 31 42
Adjusted Net Income $90 $110 $193 $103 $82
13
Non-GAAP Measures
Operating Margin: Adjusted EBIT divided by Total Revenue and Other Operating Income after adjusting for unrealized (gain) loss on commodity derivative instruments.
(Dollars in millions) Q3-2026 Q2-2026 Q1-2026 Q4-2025 Q3-2025
Total Revenue and Other Operating Income $580 $618 $787 $611 $584
Net Income $165 $203 $348 $196 $202
Interest Expense 40 39 41 42 43
Interest Income (1) — — — —
Income Tax Expense 54 34 80 28 64
Earnings Before Interest & Taxes (EBIT) 258 276 469 266 309
Depreciation, Depletion & Amortization 135 136 135 145 149
Earnings Before Interest, Taxes, DD&A (EBITDA) $393 $412 $604 $411 $458
Adjustments:
Unrealized Gain on Commodity Derivative Instruments ($108) ($131) ($226) ($130) ($110)
Total Adjustments ($108) ($131) ($226) ($130) ($110)
Total Revenue and Other Operating Income Minus Unrealized Gain on Commodity Derivative Instruments $472 $487 $561 $481 $474
Adjusted EBIT $150 $145 $243 $136 $199
Operating Margin 32 % 30 % 43 % 28 % 42 %
14
Non-GAAP Measures
Cash Operating Margin: Adjusted EBITDA divided by Total Revenue and Other Operating Income after adjusting for unrealized (gain) loss on commodity derivative instruments, stock-based compensation and the other discrete items listed below.
(Dollars in millions) Q3-2026 Q2-2026 Q1-2026 Q4-2025 Q3-2025
Total Revenue and Other Operating Income $580 $618 $787 $611 $584
Net Income $165 $203 $348 $196 $202
Interest Expense 40 39 41 42 43
Interest Income (1) — — — —
Income Tax Expense 54 34 80 28 64
Earnings Before Interest & Taxes (EBIT) 258 276 469 266 309
Depreciation, Depletion & Amortization 135 136 135 145 149
Earnings Before Interest, Taxes, DD&A (EBITDA) $393 $412 $604 $411 $458
Adjustments:
Unrealized Gain on Commodity Derivative Instruments $(108) $(131) $(226) $(130) ($110)
Gain on Non-Core Asset Sale — — — — (57)
Stock-Based Compensation 7 6 6 5 5
Loss on Debt Extinguishment — — 12 1 —
Total Adjustments ($101) ($125) ($208) ($124) ($162)
Total Revenue and Other Operating Income Minus Unrealized Gain on Commodity Derivative Instruments $472 $487 $561 $481 $474
Adjusted EBITDA $292 $287 $396 $287 $296
Cash Operating Margin 62 % 59 % 71 % 60 % 62 %
15
Non-GAAP Measures
Management uses net debt to determine the company's outstanding debt obligations that would not be readily satisfied by its cash, cash equivalents, and restricted cash on hand. Management believes that using net debt is useful to investors in determining the company's leverage ratio since the company could choose to use its cash, cash equivalents, and restricted cash to retire debt.
Net Debt: Total long-term debt minus cash, cash equivalents, and restricted cash.
Adjusted Net Debt: Total long-term debt, plus the historical impact of accounting pronouncement, minus cash, cash equivalents, and restricted cash.
(Dollars in millions)
Net Debt 30-Sep-26 30-Jun-26 31-Mar-26 31-Dec-25 31-Dec-24 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 30-Sep-20
Total Long-Term Debt (GAAP)(1)
$2,279 $2,224 $2,367 $2,421 $2,166 $2,214 $2,206 $2,214 $2,424 $2,600
Less: Cash, Cash Equivalents, and Restricted Cash 4 9 6 13 55 — 21 4 22 156
Net Debt $2,275 $2,215 $2,361 $2,408 $2,111 $2,214 $2,185 $2,210 $2,402 $2,444
(1) Includes current portion
(Dollars in millions)
Adjusted Net Debt 30-Sep-26 30-Jun-26 31-Mar-26 31-Dec-25 31-Dec-24 31-Dec-23 31-Dec-22 31-Dec-21 31-Dec-20 30-Sep-20
Total Long-Term Debt (GAAP)(1)
$2,279 $2,224 $2,367 $2,421 $2,166 $2,214 $2,206 $2,214 $2,424 $2,600
Plus: Impact of Recent Accounting Pronouncement(2)
— — — — — — — 82 98 101
Less: Cash, Cash Equivalents, and Restricted Cash 4 9 6 13 55 — 21 4 22 156
Adjusted Net Debt $2,275 $2,215 $2,361 $2,408 $2,111 $2,214 $2,185 $2,292 $2,500 $2,545
(1) Includes current portion
(2) On January 1, 2022, the Company adopted Accounting Standards Update (ASU) 2020-06 - Accounting for Convertible Instruments and Contracts in an Entity's Own Equity and upon adoption long-term debt increased by $82MM (See Note 12 - Long-Term Debt in the Notes to the Audited Consolidated Financial Statements in Item 8 of CNX’s December 31, 2022 Form 10-K for additional information). As this adjustment was recorded on a prospective basis, Management believes that presenting investors with the net debt on a historical basis would be beneficial.
Adjusted TTM EBITDAX: EBITDAX over the trailing-twelve-months after adjusting for the discrete items listed below.
Three Months Ended Twelve Months Ended
(Dollars in millions) 31-Dec-25 31-Mar-26 30-Jun-26 30-Sep-26 30-Sep-26
Net Income $196 $348 $203 $165 $912
Interest Expense 42 41 39 40 162
Interest Income — — — (1) (1)
Income Tax Expense 28 80 34 54 196
Earnings Before Interest & Taxes (EBIT) 266 469 276 258 1,269
Depreciation, Depletion & Amortization 145 135 136 135 551
Exploration Expense 5 4 3 2 14
Earnings Before Interest, Taxes, DD&A, and Exploration (EBITDAX) 416 608 415 395 1,834
Adjustments:
Unrealized Gain on Commodity Derivative Instruments (130) (226) (131) (108) (595)
Stock Based Compensation 5 6 6 7 24
Loss on Debt Extinguishment 1 12 — — 13
Total Pre-tax Adjustments (124) (208) (125) (101) (558)
Adjusted EBITDAX TTM $292 $400 $290 $294 $1,276
16
Non-GAAP Measures
The Company's management believes that the following measures provide useful information to external users of the Company's consolidated financial statements, such as industry analysts, lenders and ratings agencies. Free cash flow should not be considered as alternatives to net cash provided by operating activities or any other measure of liquidity presented in accordance with GAAP.
Free Cash Flow (FCF): Net cash provided by operating activities minus capital expenditures plus proceeds from asset sales and minus investments in equity affiliates.
2026 Free Cash Flow
(Dollars in millions) Q3-2026 Q2-2026 Q1-2026
Net Cash Provided by Operating Activities $253 $280 $278
Capital Expenditures (139) (142) (170)
Proceeds from Asset Sales 16 — 32
Investments in Equity Affiliates (5) — (1)
Free Cash Flow $125 $138 $139
2025 Free Cash Flow
(Dollars in millions) Q4-2025 Q3-2025 Q2-2025 Q1-2025 YTD-2025
Net Cash Provided by Operating Activities $296 $234 $283 $216 $1,029
Capital Expenditures (174) (76) (114) (131) (495)
Proceeds from Asset Sales 3 68 21 16 108
Investments in Equity Affiliates 7 — (2) (1) 4
Free Cash Flow $132 $226 $188 $100 $646
2024 Free Cash Flow
(Dollars in millions) Q4-2024 Q3-2024 Q2-2024 Q1-2024 YTD-2024
Net Cash Provided by Operating Activities $269 $170 $192 $185 $816
Capital Expenditures (105) (115) (152) (168) (540)
Proceeds from Asset Sales 37 8 7 8 60
Investments in Equity Affiliates (2) (3) — — (5)
Free Cash Flow $199 $60 $47 $25 $331
2023 Free Cash Flow
(Dollars in millions) Q4-2023 Q3-2023 Q2-2023 Q1-2023 YTD-2023
Net Cash Provided by Operating Activities $161 $206 $199 $248 $814
Capital Expenditures (107) (206) (196) (170) (679)
Proceeds from Asset Sales 8 19 132 11 170
Free Cash Flow $62 $19 $135 $89 $305
2022 Free Cash Flow
(Dollars in millions) Q4-2022 Q3-2022 Q2-2022 Q1-2022 YTD-2022
Net Cash Provided by Operating Activities $442 $265 $192 $336 $1,235
Capital Expenditures (173) (134) (137) (122) (566)
Proceeds from Asset Sales 7 4 7 20 38
Free Cash Flow $276 $135 $62 $234 $707
2021 Free Cash Flow
(Dollars in millions) Q4-2021 Q3-2021 Q2-2021 Q1-2021 YTD-2021
Net Cash Provided by Operating Activities $254 $215 $239 $219 $927
Capital Expenditures (117) (97) (129) (123) (466)
Proceeds from Asset Sales 21 12 7 5 45
Free Cash Flow $158 $130 $117 $101 $506
2020 Free Cash Flow
(Dollars in millions) Q4-2020 Q3-2020 Q2-2020 Q1-2020 YTD-2020
Net Cash Provided by Operating Activities $161 $223 $144 $267 $795
Capital Expenditures (92) (108) (135) (152) (487)
Proceeds from Asset Sales 16 6 12 14 48
Free Cash Flow $85 $121 $21 $129 $356
17
Risk Factors
This presentation, including the oral statements made in connection herewith, contains forward-looking statements estimates and projections within the meaning of the federal securities laws. Statements that are not historical are forward-looking and may include our operational and strategic plans; estimates of gas reserves and resources; projected timing and rates of return of future investments; and projections and estimates of future production revenues, income and capital spending. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those statements estimates and projections. Investors should not place undue reliance on forward-looking statements as a prediction of future actual results. The forward-looking statements in this presentation speak only as of the date of this presentation; we disclaim any obligation to update the statements, and we caution you not to rely on them unduly.
Specific factors that could cause future actual results to differ materially from the forward-looking statements are described in detail under the captions “Cautionary Statement Regarding Forward-looking Statements” and “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (SEC) on February 10, 2026, as supplemented by our quarterly reports on Form 10-Q, and any other reports filed with the SEC. Those risk factors discuss, among other matters, pricing volatility or pricing decline for natural gas and NGLs; local, regional and national economic conditions and the impact they may have on our customers; events beyond our control, including a global or domestic health crisis or global instability; our operations and national and global economic conditions, generally; conditions in the oil and gas industry; the financial condition of our customers; any nonperformance by customers of their contractual obligations; changes in customer, employee or supplier relationships; ability to qualify for environmental attribute credits and the volatility of environmental attribute markets; and changes in safety, health, environmental and other regulations.
18
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Oct. 29, 2026
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Entity File Number
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Entity Tax Identification Number
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Entity Address, Address Line Two
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Security Exchange Name
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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
+ Details
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dei_PreCommencementTenderOffer
Namespace Prefix:
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Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Title of a 12(b) registered security.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
+ Details
Name:
dei_Security12bTitle
Namespace Prefix:
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Data Type:
dei:securityTitleItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
+ Details
Name:
dei_SecurityExchangeName
Namespace Prefix:
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Data Type:
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Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
+ Details
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dei_SolicitingMaterial
Namespace Prefix:
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Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
dei_TradingSymbol
Namespace Prefix:
dei_
Data Type:
dei:tradingSymbolItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
+ Details
Name:
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Namespace Prefix:
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Data Type:
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Balance Type:
na
Period Type:
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X
- Details
Name:
us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember
Namespace Prefix:
Data Type:
na
Balance Type:
Period Type:
X
- Details
Name:
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Namespace Prefix:
Data Type:
na
Balance Type:
Period Type: