Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2018

Financial Instruments And Fair Value Disclosures [Abstract]

Fair Value of Financial Assets and Liabilities

The tables below summarize the balances of derivative assets and liabilities at March 31, 2018 and December 31, 2017 (in thousands):



	March 31, 2018
	Level 1			Level 2			Level 3			Netting ⁽¹⁾			Total - Net
Assets:
Commodity derivatives ⁽²⁾	$	31		$	—		$	—		$	(31	)	$	—
Interest rate swaps	—			—			130			—			130
Total assets	31			—			130			(31		)	130
Liabilities:
Commodity derivatives	3,625			—			—			(31		)	3,594
Foreign currency forwards	—			1,778			—			—			1,778
Total liabilities	3,625			1,778			—			(31		)	5,372
Net assets (liabilities) at fair value	$	(3,594	)	$	(1,778	)	$	130		$	—		$	(5,242	)

	December 31, 2017
	Level 1			Level 2			Level 3			Netting ⁽¹⁾			Total - Net
Assets:
Commodity derivatives ⁽²⁾	$	602		$	—		$	—		$	(602	)	$	—
Foreign currency forwards	—			2,564			—			—			2,564
Total assets	602			2,564			—			(602		)	2,564
Liabilities:
Commodity derivatives	1,970			—			—			(602		)	1,368
Interest rate swaps	—			—			1,228			—			1,228
Total liabilities	1,970			—			1,228			(602		)	2,596
Net assets (liabilities) at fair value	$	(1,368	)	$	2,564		$	(1,228	)	$	—		$	(32	)

(1) Relates primarily to exchange traded futures. Gain and loss positions on multiple contracts are settled net on a daily basis with the exchange.

(2) Commodity derivatives are subject to netting arrangements.

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table summarizes changes in the fair value of our net financial liabilities classified as Level 3 in the fair value hierarchy (in thousands):



	Three Months Ended March 31, 2018
Net liabilities (asset) - beginning balance	$	1,228
Transfers out of Level 3	—
Realized/Unrealized (gain) loss included in earnings*	(1,074		)
Settlements	(284		)
Net liabilities (asset) - ending balance	$	(130	)

*Gains and losses related to interest rate swaps are recorded in interest expense in the condensed consolidated statements of operations and comprehensive income (loss).

Schedule of Realized and Unrealized Gains (Losses) from Commodity Derivatives

Realized and unrealized gains (losses) from our commodity derivatives were recorded to product revenue in the following amounts (in thousands):



	Three Months Ended March 31,
	2018			2017
Commodity contracts	$	(3,136	)	$	4,661

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

We have recorded the fair value of our commodity derivative instruments on our condensed consolidated balance sheets in “other current assets” and “other current liabilities” in the following amounts (in thousands):



	March 31, 2018				December 31, 2017
	Assets		Liabilities		Assets		Liabilities
Commodity contracts	$	—	$	3,594	$	—	$	1,368

Schedule of Notional Quantities for Commodity Derivative Instruments

The following table sets forth the notional quantities for derivative instruments entered into (in thousands of barrels):



	Three Months Ended March 31,
	2018	2017
Sales	4,139	4,312
Purchases	3,375	4,131