v3.24.2.u1
Significant Accounting Policies
 6 Months Ended
Jun. 30, 2024
Accounting Policies [Abstract]  
Schedule of Regulatory Assets
Amounts deferred as regulatory assets and liabilities for NW Holdings and NW Natural were as follows:
Regulatory Assets
June 30,December 31,
In thousands202420232023
NW Natural:
Current:
Unrealized loss on derivatives(1)
$52,048 $42,135 $98,661 
Gas costs7,134 24,782 9,301 
Environmental costs(2)
9,915 6,749 9,950 
Decoupling(3)
538 1,520 2,288 
Pension balancing(4)
7,131 7,131 7,131 
Income taxes2,208 2,208 2,208 
Washington Climate Commitment Act compliance19,655 10,379 20,537 
COVID-19 deferrals and expenses, net2,646 231 9,685 
Security and systems improvements2,647 2,984 3,267 
Other(5)
20,156 13,700 15,242 
Total current - NW Natural124,078 111,819 178,270 
Other (NW Holdings)24 — — 
Total current - NW Holdings$124,102 $111,819 $178,270 
Non-current:
Unrealized loss on derivatives(1)
$11,988 $25,212 $28,055 
Pension balancing(4)
24,074 29,731 27,460 
Income taxes9,930 10,540 10,731 
Pension and other postretirement benefit liabilities111,502 101,413 114,010 
Environmental costs(2)
112,189 98,160 118,619 
Gas costs853 1,122 1,917 
Decoupling(3)
— 267 1,017 
Washington Climate Commitment Act compliance8,983 1,823 — 
COVID-19 deferrals and expenses, net1,128 12,731 1,080 
Security and systems improvements9,040 11,192 9,734 
Other(5)
18,728 15,783 20,795 
Total non-current - NW Natural308,415 307,974 333,418 
Other (NW Holdings)106 25 25 
Total non-current - NW Holdings$308,521 $307,999 $333,443 
Schedule of Regulatory Liabilities
Regulatory Liabilities
June 30,December 31,
In thousands202420232023
NW Natural:
Current:
Gas costs$33,491 $5,603 $6,375 
Unrealized gain on derivatives(1)
7,624 11,691 11,184 
Decoupling(3)
9,538 8,715 7,612 
Income taxes4,726 5,158 4,726 
Asset optimization revenue sharing8,994 23,327 31,583 
Washington Climate Commitment Act compliance30,468 — 17,199 
Other(5)
4,704 7,002 6,233 
Total current - NW Natural99,545 61,496 84,912 
Other (NW Holdings)118 50 50 
Total current - NW Holdings$99,663 $61,546 $84,962 
Non-current:
Gas costs$5,939 $731 $8,556 
Unrealized gain on derivatives(1)
2,588 1,551 373 
Decoupling(3)
1,510 1,358 2,118 
Income taxes(6)
166,063 170,318 169,485 
Accrued asset removal costs(7)
510,900 481,851 496,235 
Asset optimization revenue sharing— — 2,325 
Other(5)
17,980 15,454 15,855 
Total non-current - NW Natural704,980 671,263 694,947 
Other (NW Holdings)949 952 949 
Total non-current - NW Holdings$705,929 $672,215 $695,896 
(1)Unrealized gains or losses on derivatives are non-cash items and therefore do not earn a rate of return or a carrying charge. These amounts are recoverable through NGD rates as part of the annual Purchased Gas Adjustment (PGA) mechanism when realized at settlement.
(2)Refer to the Environmental Cost Deferral and Recovery table in Note 16 for a description of environmental costs.
(3)This deferral represents the margin adjustment resulting from differences between actual and expected volumes. 
(4)Balance represents deferred net periodic benefit costs as approved by the OPUC.
(5)Balances consist of deferrals and amortizations under approved regulatory mechanisms and typically earn a rate of return or carrying charge.
(6)Balance represents excess deferred income tax benefits subject to regulatory flow-through. See Note 11.
(7)Estimated costs of removal on certain regulated properties are collected through rates.
Schedule of Cash Flow, Supplemental Disclosures
The following table provides a reconciliation of the cash, cash equivalents and restricted cash balances at NW Holdings as of June 30, 2024 and 2023 and December 31, 2023:
June 30,December 31,
In thousands202420232023
Cash and cash equivalents$65,192 $137,759 $32,920 
Restricted cash included in other current assets15,847 17,32416,704
Cash, cash equivalents and restricted cash$81,039 $155,083 $49,624 

The following table provides a reconciliation of the cash, cash equivalents and restricted cash balances at NW Natural as of June 30, 2024 and 2023 and December 31, 2023:
June 30,December 31,
In thousands202420232023
Cash and cash equivalents$19,189 $131,778 $19,841 
Restricted cash included in other current assets15,822 17,29916,679
Cash, cash equivalents and restricted cash$35,011 $149,077 $36,520 
Accounts Receivable, Allowance for Credit Loss [Table Text Block]
The following table presents the activity related to the NW Holdings provision for uncollectible accounts by pool:

As ofAs of
December 31, 2023Six Months Ended June 30, 2024June 30, 2024
In thousandsBeginning BalanceProvision recorded, net of adjustmentsWrite-offs recognized, net of recoveriesEnding Balance
Allowance for uncollectible accounts:
Residential$2,397 $1,372 $(881)$2,888 
Commercial501 140 (262)379 
Industrial65 (48)(2)15 
Accrued unbilled and other265 (3)(21)241 
Total NW Natural3,228 1,461 (1,166)3,523 
Other - NW Holdings227 8 — 235 
Total NW Holdings$3,455 $1,469 $(1,166)$3,758