Derivative Instruments

9 Months Ended

Sep. 30, 2022

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	2022		2021		2021
Natural gas (in therms):
Financial	1,006,665		749,595		618,815
Physical	672,350		613,524		431,628
Foreign exchange	$	9,905	$	6,299	$	6,268

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,
	2022				2021
In thousands	Natural gas commodity		Foreign exchange		Natural gas commodity		Foreign exchange
Benefit (expense) to cost of gas	$	(11,626)	$	(455)	$	69,239	$	(106)
Operating revenues (expense)	—		—		—		—
Amounts deferred to regulatory accounts on balance sheet	11,626		455		(69,239)		106
Total gain (loss) in pre-tax earnings	$	—	$	—	$	—	$	—