Derivatives (Tables)

12 Months Ended

Dec. 31, 2019

Derivatives [Abstract]

Schedule of Derivative Instruments

The following tables summarize the notional amount and fair value of the derivative financial instruments that are not designated in a formal hedging relationship.

	As of December 31, 2019
	Notional Amount				Fair Value (1)
(in thousands)	Long		Short		Assets		Liabilities
Commodity futures	$	14,394	$	4,623	$	570	$	339
Commodity swap	—		8,909		—		173
Foreign exchange	—		10,787		74		44
	$	14,394	$	24,319	$	644	$	556

	As of December 31, 2018
	Notional Amount				Fair Value (1)
(in thousands)	Long		Short		Assets		Liabilities
Commodity futures	$	19,361	$	3,434	$	486	$	2,181
Commodity swap	—		8,761		739		—
Foreign exchange	—		10,996		—		205
	$	19,361	$	23,191	$	1,225	$	2,386

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(1)    The fair value of the derivative financial instruments is recorded in other assets and other liabilities and accrued expenses on the

Company's consolidated statements of financial condition.

Gains (Losses) on Derivatives

The following table summarizes net gains (losses) from derivative financial instruments:

	Years Ended December 31,
(in thousands)	2019			2018			2017
Commodity futures	$	881		$	(2,093	)	$	(438	)
Commodity swap	(485		)	739			—
Foreign exchange	235			(141		)	(1,481		)
Total (1)	$	631		$	(1,495	)	$	(1,919	)

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(1)    Gains and losses on the derivative financial instruments are recorded as gain (loss) from investments—net in the Company's

consolidated statements of operations.