Derivative Instruments

6 Months Ended

Jun. 30, 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:

	June 30,				December 31,
In thousands	2021		2020		2020
Natural gas (in therms):
Financial	680,335		654,145		784,400
Physical	419,148		570,600		457,593
Foreign exchange	$	6,477	$	7,176	$	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 June 30,
	2021				2020
In thousands	Natural gas commodity		Foreign exchange		Natural gas commodity		Foreign exchange
Benefit (expense) to cost of gas	$	16,323	$	(45)	$	5,492	$	459
Operating revenues (expense)	—		—		754		—
Amounts deferred to regulatory accounts on balance sheet	(16,323)		45		(6,119)		(459)
Total gain (loss) in pre-tax earnings	$	—	$	—	$	127	$	—

	Six Months Ended June 30,
	2021				2020
In thousands	Natural gas commodity		Foreign exchange		Natural gas commodity		Foreign exchange
Benefit (expense) to cost of gas	$	36,805	$	32	$	149	$	(7)
Operating revenues (expense)	(27)		—		(1,679)		—
Amounts deferred to regulatory accounts on balance sheet	(36,782)		(32)		1,286		7
Total gain (loss) in pre-tax earnings	$	(4)	$	—	$	(244)	$	—