Inventories (Notes)

3 Months Ended

Mar. 31, 2020

Inventory, Net [Abstract]

Inventories

INVENTORIES

As further discussed in Note 1, the Partnership elected to change its accounting policy related to certain barrels of crude oil that were previously accounted for as inventory. As a result of this change in accounting policy, the Partnership’s inventory balance for the prior period has been retrospectively adjusted. Inventories consisted of the following:

	March 31, 2020		December 31, 2019
Natural gas, NGLs and refined products	$	463	$	833
Crude oil	105		251
Spare parts and other	456		448
Total inventories	$	1,024	$	1,532

We utilize commodity derivatives to manage price volatility associated with its natural gas inventories. Changes in fair value of designated hedged inventory are recorded in inventory on our consolidated balance sheets and cost of products sold in our consolidated statements of operations.