DERIVATIVES (Tables)

3 Months Ended

Mar. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Instruments

The following tables provide information about the fair values of these derivative instruments as of March 31, 2013 and December 31, 2012 and the line items in the consolidated balance sheet in which the fair values are reflected.



Description	Balance Sheet Location	Fair Value Asset/(Liability)
Derivatives designated as hedging instruments:
March 31, 2013:
Derivatives included with inventory supply arrangement obligations	Accrued expenses	$	(2,156	)
December 31, 2012:
Derivatives included with inventory supply arrangement obligations	Accrued expenses	$	5,595

Derivatives not designated as hedging instruments:
March 31, 2013:
Commodity contracts	Accounts receivable	$	10,970
December 31, 2012:
Commodity contracts	Accounts receivable	$	1,431

Schedule of Derivative Instruments, Gain (Loss) Recognized in Income

The following tables provide information about the gain or loss recognized in income on these derivative instruments and the line items in the consolidated financial statements in which such gains and losses are reflected.



Description	Location of Gain or (Loss) Recognized in Income on Derivatives	Gain or (Loss) Recognized in Income on Derivatives
Derivatives designated as hedging instruments:
For the three months ended March 31, 2013:
Derivatives included with inventory supply arrangement obligations	Cost of sales	$	(7,751	)
For the three months ended March 31, 2012:
Derivatives included with inventory supply arrangement obligations	Cost of sales	$	16,009
Derivatives not designated as hedging instruments:
For the three months ended March 31, 2013:
Derivatives included with inventory supply arrangement obligations	Cost of sales	$	—
Commodity contracts	Cost of sales	$	18,678
For the three months ended March 31, 2012:
Derivatives included with inventory supply arrangement obligations	Cost of sales	$	(8	)
Commodity contracts	Cost of sales	$	26,918
Hedged items designated in fair value hedges:
For the three months ended March 31, 2013:
Crude oil and feedstock inventory	Cost of sales	$	2,888
For the three months ended March 31, 2012:
Crude oil and feedstock inventory	Cost of sales	$	(12,739	)

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details