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INVENTORIES (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2020
Dec. 31, 2019
Inventory Disclosure [Abstract]    
Schedule of Inventory

Inventories consisted of the following:

 

June 30, 2020

 

(in millions)

   Titled
Inventory
    Inventory
Intermediation
Agreements
    Total  

Crude oil and feedstocks

   $ 1,254.0   $ —     $ 1,254.0

Refined products and blendstocks

     1,056.3     277.2     1,333.5

Warehouse stock and other

     135.7     —         135.7
  

 

 

   

 

 

   

 

 

 
   $ 2,446.0   $ 277.2   $ 2,723.2

Lower of cost or market adjustment

     (965.7     (137.3     (1,103.0
  

 

 

   

 

 

   

 

 

 

Total inventories

   $ 1,480.3   $ 139.9   $ 1,620.2
  

 

 

   

 

 

   

 

 

 

 

December 31, 2019

 

(in millions)

   Titled
Inventory
    Inventory
Intermediation
Agreements
    Total  

Crude oil and feedstocks

   $ 1,071.4   $ 2.7   $ 1,074.1

Refined products and blendstocks

     976.0     352.9     1,328.9

Warehouse stock and other

     120.8     —         120.8
  

 

 

   

 

 

   

 

 

 
   $ 2,168.2   $ 355.6   $ 2,523.8

Lower of cost or market adjustment

     (324.8     (76.8     (401.6
  

 

 

   

 

 

   

 

 

 

Total inventories

   $ 1,843.4   $ 278.8   $ 2,122.2
  

 

 

   

 

 

   

 

 

 

Inventories consisted of the following:

 

December 31, 2019  

(in millions)

   Titled Inventory      Inventory
Intermediation
Agreements
     Total  

Crude oil and feedstocks

   $ 1,071.4      $ 2.7      $ 1,074.1  

Refined products and blendstocks

     976.0        352.9        1,328.9  

Warehouse stock and other

     120.8        —          120.8  
  

 

 

    

 

 

    

 

 

 
   $ 2,168.2      $ 355.6      $ 2,523.8  

Lower of cost or market adjustment

     (324.8      (76.8      (401.6
  

 

 

    

 

 

    

 

 

 

Total inventories

   $ 1,843.4      $ 278.8      $ 2,122.2  
  

 

 

    

 

 

    

 

 

 

 

December 31, 2018  

(in millions)

   Titled Inventory      Inventory
Intermediation
Agreements
     Total  

Crude oil and feedstocks

   $ 1,044.8      $ —        $ 1,044.8  

Refined products and blendstocks

     1,026.9        334.8        1,361.7  

Warehouse stock and other

     109.4        —          109.4  
  

 

 

    

 

 

    

 

 

 
   $ 2,181.1      $ 334.8      $ 2,515.9  

Lower of cost or market adjustment

     (557.2      (94.6      (651.8
  

 

 

    

 

 

    

 

 

 

Total inventories

   $ 1,623.9      $ 240.2      $ 1,864.1