Derivative Instruments

9 Months Ended

Sep. 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:

	September 30,				December 31,
In thousands	2020		2019		2019
Natural gas (in therms):
Financial	860,400		752,090		651,540
Physical	706,592		751,950		512,849
Foreign exchange	$	6,754	$	6,446	$	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 September 30,
	2020				2019
In thousands	Natural gas commodity		Foreign exchange		Natural gas commodity		Foreign exchange
Benefit (expense) to cost of gas	$	28,122	$	136	$	2,391	$	(133)
Operating revenues (expense)	658		—		2,002		—
Amounts deferred to regulatory accounts on balance sheet	(28,684)		(136)		(4,102)		133
Total gain (loss) in pre-tax earnings	$	96	$	—	$	291	$	—

	Nine Months Ended September 30,
	2020				2019
In thousands	Natural gas commodity		Foreign exchange		Natural gas commodity		Foreign exchange
Benefit (expense) to cost of gas	$	28,271	$	129	$	4,255	$	24
Operating revenues (expense)	(1,021)		—		36		—
Amounts deferred to regulatory accounts on balance sheet	(27,398)		(129)		(4,284)		(24)
Total gain (loss) in pre-tax earnings	$	(148)	$	—	$	7	$	—