Derivative Instruments

3 Months Ended

Mar. 31, 2021

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:

	March 31,				December 31,
In thousands	2021		2020		2020
Natural gas (in therms):
Financial	597,495		487,420		784,400
Physical	187,595		369,450		457,593
Foreign exchange	$	5,954	$	9,885	$	5,896

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 March 31,
	2021				2020
In thousands	Natural gas commodity		Foreign exchange		Natural gas commodity		Foreign exchange
Benefit (expense) to cost of gas	$	20,482	$	77	$	(5,343)	$	(466)
Operating expense	(27)		—		(2,433)		—
Amounts deferred to regulatory accounts on balance sheet	(20,459)		(77)		7,405		466
Total loss in pre-tax earnings	$	(4)	$	—	$	(371)	$	—