Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Measurements

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

	Fair Value at September 30, 2022
					Cash Collateral
	Level 1		Level 2		Netting		Total
Assets:
Forward derivative contracts (1)	$	—	$	21,758	$	—	$	21,758
Exchange-traded/cleared derivative instruments (2)		52,729		—		(24,148)		28,581
Pension plans		17,253		—		—		17,253
Total assets	$	69,982	$	21,758	$	(24,148)	$	67,592
Liabilities:
Forward derivative contracts (1)	$	—	$	(24,425)	$	—	$	(24,425)

	Fair Value at December 31, 2021
					Cash Collateral
	Level 1		Level 2		Netting		Total
Assets:
Forward derivative contracts (1)	$	—	$	11,652	$	—	$	11,652
Exchange-traded/cleared derivative instruments (2)		25,911		—		7,747		33,658
Pension plans		22,703		—		—		22,703
Total assets	$	48,614	$	11,652	$	7,747	$	68,013
Liabilities:
Forward derivative contracts (1)	$	—	$	(31,654)	$	—	$	(31,654)

(1) Forward derivative contracts include the Partnership’s petroleum and ethanol physical and financial forwards and OTC swaps.

(2) Amount includes the effect of cash balances on deposit with clearing brokers.

Carrying value and fair value of the Partnership's senior notes

	September 30, 2022				December 31, 2021
	Face		Fair		Face		Fair
	Value		Value		Value		Value
7.00% senior notes due 2027	$	400,000	$	364,000	$	400,000	$	412,000
6.875% senior notes due 2029	$	350,000	$	314,125	$	350,000	$	358,750