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Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2019

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, 2019 and December 31, 2018 (in thousands):



	March 31, 2019
	Level 1			Level 2			Level 3			Netting ⁽¹⁾			Total - Net
Assets:
Commodity derivatives ⁽²⁾	$	3,140		$	—		$	—		$	(3,140	)	$	—
Total assets	3,140			—			—			(3,140		)	—
Liabilities:
Commodity derivatives	4,273			—			—			(3,140		)	1,133
Foreign currency forwards	—			1,053			—			—			1,053
Interest rate swaps	—			—			2,175			—			2,175
Total liabilities	4,273			1,053			2,175			(3,140		)	4,361
Net assets (liabilities) at fair value	$	(1,133	)	$	(1,053	)	$	(2,175	)	$	—		$	(4,361	)



	December 31, 2018
	Level 1		Level 2			Level 3			Netting ⁽¹⁾			Total - Net
Assets:
Commodity derivatives ⁽²⁾	$	4,658	$	—		$	—		$	(973	)	$	3,685
Total assets	4,658		—			—			(973		)	3,685
Liabilities:
Commodity derivatives	973		—			—			(973		)	—
Foreign currency forwards	—		2,985			—			—			2,985
Interest rate swaps	—		—			1,482			—			1,482
Total liabilities	973		2,985			1,482			(973		)	4,467
Net assets (liabilities) at fair value	$	3,685	$	(2,985	)	$	(1,482	)	$	—		$	(782	)

(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,
	2019			2018
Net assets (liabilities) at beginning of the period	$	(1,482	)	$	(1,228	)
Transfers out of Level 3	—			—
Realized/Unrealized gain (loss) included in earnings*	(693		)	1,074
Settlements	—			284
Net assets (liabilities) at end of period	$	(2,175	)	$	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 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,
	2019	2018
Sales	4,734	4,139
Purchases	4,901	3,375

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, 2019				December 31, 2018
	Assets		Liabilities		Assets		Liabilities
Commodity contracts	$	—	$	1,133	$	3,685	$	—

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,
	2019			2018
Commodity contracts	$	(10,585	)	$	(3,136	)