Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2012

Fair Value Measurements

Schedule of financial assets and financial liabilities measured at fair value on a recurring basis

The following table presents those financial assets and financial liabilities measured at fair value on a recurring basis (in thousands):

	Fair Value as of December 31, 2012											Fair Value as of December 31, 2011
	Total			Level 1			Level 2			Level 3		Total			Level 1			Level 2			Level 3
Assets:
Hedged inventories	$	526,107		$	—		$	526,107		$	—	$	609,566		$	—		$	609,566		$	—
Fair value of forward fixed price contracts		48,062			—			48,062			—		23,224			—			23,224			—
Swap agreements and options		179			54			125			—		239			121			118			—
Foreign currency derivatives		145			—			145			—		—			—			—			—
Interest rate cap		35			—			35			—		306			—			306			—
Broker margin deposits		54,726			54,726			—			—		43,935			43,935			—			—
Pension plan		17,158			17,158			—			—		12,487			12,487			—			—
Total	$	646,412		$	71,938		$	574,474		$	—	$	689,757		$	56,543		$	633,214		$	—
Liabilities:
Obligations on forward fixed price contracts	$	(34,474	)	$	—		$	(34,474	)	$	—	$	(19,481	)	$	—		$	(19,481	)	$	—
Swap agreements and option contracts		(54	)		(54	)		—			—		(123	)		(121	)		(2	)		—
Interest rate collar and swap		(13,402	)		—			(13,402	)		—		(16,263	)		—			(16,263	)		—
Total liabilities	$	(47,930	)	$	(54	)	$	(47,876	)	$	—	$	(35,867	)	$	(121	)	$	(35,746	)	$	—