2.2.0.25falsefalse006080 - Disclosure - Revolving Credit Facilitytruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010 USD ($) USD ($) / shares $c00030http://www.sec.gov/CIK0000110430duration2010-01-01T00:00:002010-12-31T00:00:00u000Standardhttp://www.xbrl.org/2003/iso4217USDiso42170u002Dividehttp://www.xbrl.org/2003/iso4217USDiso4217http://www.xbrl.org/2003/instancesharesxbrli0u001Standardhttp://www.xbrl.org/2003/instancesharesxbrli0USDUSD$2true0fto_NotesToFinancialStatementsAbstractftofalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalseNotes to Financial Statements [Abstract]3false0us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlockus-gaaptruenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalseterselabel1falsefalsefalse00<div><table border="0" cellspacing="0" cellpadding="0" width="100%" align="center"><tr valign="top"><td style="WIDTH: 36pt"><div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">8.</font></div></td><td><div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Revolving Credit Facility</font></div></td></tr></table></div><div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The refining operations have a working capital credit facility with a group of banks led by Union Bank of California and BNP Paribas ("Facility").&#160;&#160;The Facility, collateralized by inventory, accounts receivable and related contracts and intangibles, and certain deposit accounts, provides working capital financing for operations, generally the financing of crude oil and product supply.&#160;&#160;The Facility matures in August 2012.&#160;&#160;The maximum amount available under this agreement is $500 million and has a margin at a range from 1.5% to 2% plus the base rate or LIBOR rate, as applicable.&#160;&#160;The Facility provides for a quarterly commitment fee from 0.30% to 0.375% per annum plus standard issuance and renewal fees.&#160;&#160;No funds were borrowed at any time during 2010 or 2009 under the Facility, and thus the Company did not incur any interest expense under the Facility in 2010 or 2009.&#160;&#160;The Company had average daily borrowings of $4.8 million during 2008 under the Facility, with interest expense incurred of $193,000 at an average interest rate of 4.041%.&#160;&#160;The Facility is subject to compliance with financial covenants relating to cash coverage, debt leverage and current ratios and permitted consolidated long-term funded indebtedness.&#160;&#160;The Company was in compliance with these covenants at December 31, 2010.&#160;&#160;No borrowings were outstanding at December 31, 2010 or 2009, under the Facility.&#160;&#160;Standby letters of credit outstanding were $292.0 million and $53.0 million at December 31, 2010 and 2009, respectively.&#160;&#160;As of December 31, 2010, the Company had borrowing base availability of $208.0 million under the Facility.</font></div><div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Facility restricts payments to FOC from its subsidiaries and thus, as required by Regulation 210.5-04 of Regulation S-X of the Securities Exchange Act of 1934, as amended, the Condensed Financial Information of FOC is included in Schedule I of this Form 10-K.</font></div>8.Revolving Credit Facility&#160;The refining operations have a working capital credit facility with a group of banks led by Union Bank of California and BNPfalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis element may be used to capture the complete disclosure pertaining to short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph f -Article 4 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 22 -Article 5 falsefalseRevolving Credit Facility12Revolving Credit FacilityUnKnownUnKnownUnKnownUnKnownfalsetrue