Derivatives (Tables)

12 Months Ended

Dec. 31, 2011

Derivatives [Abstract]

Schedule Of Outstanding Derivatives Entered Into Hedge Inventory Or Fixed Price Purchase Commitments

	Sell (Short) Contracts		Buy (Long) Contracts
Not qualifying or not designated as hedges under accounting rules:
Crude oil futures:
Contract volumes (1,000 bbls)		169		90
Weighted average contract price per bbl	$	96.16	$	98.83
Heating oil futures:
Contract volumes (1,000 bbls)		178		60
Weighted average contract price per gal	$	2.86	$	2.83
RBOB gasoline futures:
Contract volumes (1,000 bbls)		15		—
Weighted average contract price per gal	$	2.66	$	—
# 6 Fuel oil futures:
Contract volumes (1,000 bbls)		489		—
Weighted average contract price per bbl	$	93.73	$	—
Crude oil options:
Contract volumes (1,000 bbls)		355		75
Weighted average premium received	$	2.05	$	0.56
Heating oil options:
Contract volumes (1,000 bbls)		30		—
Weighted average premium received	$	0.09	$	—

Schedule Of Accounting Treatment And Classification Of Derivative Instruments

Derivative Instrument	Hedged Risk	Impact of Unrealized Gains and Losses
		Consolidated Balance Sheets	Consolidated Statements of Operations
Designated as hedges under accounting guidance:
Crude oil futures contracts (fair value hedge)	Volatility in crude oil prices - effect on market value of inventory	Derivative is recorded in Other current assets (offset against margin deposits) and offsetting change in fair value of inventory is recorded in Inventories	Excess, if any, over effective portion of hedge is recorded in Supply and logistics costs - product costs Effective portion is offset in cost of sales against change in value of inventory being hedged
Interest rate swaps (cash flow hedge) (through July 2010)	Changes in interest rates	Not applicable	Expect hedge to fully offset hedged risk; no ineffectiveness recorded. Effective portion is recorded to AOCL and ultimately reclassified to Interest expense
Not qualifying or not designated as hedges under accounting guidance:
Commodity hedges consisting of crude oil, heating oil and natural gas futures and forward contracts and call options	Volatility in crude oil and petroleum products prices - effect on market value of inventory or purchase commitments	Derivative is recorded in Other current assets (offset against margin deposits) or Accrued liabilities	Entire amount of change in fair value of derivative is recorded in Supply and logistics costs - product costs

Schedule Of Fair Value Of Derivative Assets And Liabilities

	Asset Derivatives
	Consolidated Balance Sheets		Fair Value
	Location		December 31, 2011			December 31, 2010
Commodity derivatives—futures and call options:
Hedges designated under accounting guidance as fair value hedges		Other Current Assets	$	—		$	14
Undesignated hedges		Other Current Assets		306			493
Total asset derivatives			$	306		$	507
	Liability Derivatives
	Consolidated Balance Sheets		Fair Value
	Location		December 31, 2011			December 31, 2010
Commodity derivatives—forwards futures and call options:
Hedges designated under accounting guidance as fair value hedges		Other Current Assets	$	—		$	(191	) (1)
Undesignated hedges		Other Current Assets		(2,820	) (1)		(2,283	) (1)
Total liability derivatives			$	(2,820	)	$	(2,474	)

(1) These derivative liabilities have been funded with margin deposits recorded in our Consolidated Balance Sheets in other current assets.

Schedule Of Effect On Consolidated Statements Of Operations And Other Comprehensive Income (Loss)

	Amount of Gain (Loss) Recognized in Income
	Supply & Logistics Product Costs						Interest Expense Reclassified from AOCL					Other Comprehensive Loss Effective Portion
	Year Ended December 31,						Year Ended December 31,					Year Ended December 31,
	2011			2010			2011		2010			2011		2010
Commodity derivatives—futures and call options:
Contracts designated as hedges under accounting guidance	$	(173	) (1)	$	307	(1)	$	—	$	—		$	—	$	—
Contracts not considered hedges under accounting guidance		(17,419	)		(4	)		—		—			—		—
Total commodity derivatives		(17,592	)		303			—		—			—		—
Interest rate swaps designated as cash flow hedges under accounting guidance		—			—			—		(2,112	)		—		(424	)
Total derivatives	$	(17,592	)	$	303		$	—	$	(2,112	)	$	—	$	(424	)

(1) Represents the amount of gain (loss) recognized in income for derivatives related to the fair value hedge of inventory. The amount excludes the gain on the hedged inventory under the fair value hedge of $0.8 million and $1 million for the year ended 2011 and 2010, respectively.