Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following tables present the effect of derivative instruments on the consolidated statements of financial position:

	As of September 30, 2014
	Asset Derivatives			Liability Derivatives
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives not designated as hedging instruments:
Commodity contracts (futures and forwards)	Accounts receivable	$	1,678	Accrued liabilities	$	2,395
Total derivatives not designated as hedging instruments		$	1,678		$	2,395
Derivatives designated as hedging instruments:
Fair value hedge		$	—	Other non-current liabilities	$	878
Total derivatives designated as hedging instruments		—			878
Total derivatives		$	1,678		$	3,273

	As of December 31, 2013
	Asset Derivatives			Liability Derivatives
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives not designated as hedging instruments:
Commodity contracts (futures and forwards)	Accounts receivable	$	303	Accrued liabilities	$	281
Total derivatives not designated as hedging instruments		$	303		$	281
Derivatives designated as hedging instruments:
Fair value hedge		$	—	Other non-current liabilities	$	2,304
Total derivatives designated as hedging instruments		—			2,304
Total derivatives		$	303		$	2,585

Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following tables present the effect of derivative instruments on the consolidated statements of operations:

Derivatives in fair value hedging relationships:

		Gain (Loss) Recognized in Income
		For the Three Months Ended					For the Nine Months Ended
		September 30,					September 30,
	Location	2014		2013			2014		2013
Fair value hedge	Cost of sales	$	3,818	$	(2,232	)	$	1,426	$	(3,830	)
Total derivatives		$	3,818	$	(2,232	)	$	1,426	$	(3,830	)

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

Derivatives not designated as hedging instruments:

		Gain (Loss) Recognized in Income
		For the Three Months Ended						For the Nine Months Ended
		September 30,						September 30,
	Location	2014			2013			2014			2013
Commodity contracts (futures & forwards)	Cost of sales	$	(2,329	)	$	(2,091	)	$	(4,604	)	$	4,559
Total derivatives		$	(2,329	)	$	(2,091	)	$	(4,604	)	$	4,559

Summary of Offsetting Derivative Instruments by Type

The following table presents offsetting information regarding our derivatives by type of transaction as of September 30, 2014 and December 31, 2013:

	Gross Amounts of Recognized Assets/Liabilities		Gross Amounts offset in the Statement of Financial Position			Net Amounts Presented in the Statement of Financial Position		Gross Amounts Not offset in the Statement of Financial Position					Net Amount
								Financial Instruments			Cash Collateral Pledged
As of September 30, 2014
Derivative Assets:
Commodity contracts (futures & forwards)	$	1,833	$	(155	)	$	1,678	$	(1,678	)	$	—	$	—
Derivative Liabilities:
Commodity contracts (futures & forwards)	$	2,550	$	(155	)	$	2,395	$	(1,678	)	$	—	$	717
Fair value hedge	878		—			878		—			—		878
As of December 31, 2013
Derivative Assets:
Commodity contracts (futures & forwards)	$	514	$	(211	)	$	303	$	(281	)	$	—	$	22
Derivative Liabilities:
Commodity contracts (futures & forwards)	$	492	$	(211	)	$	281	$	(281	)	$	—	$	—
Fair value hedge	2,304		—			2,304		—			—		2,304