DERIVATIVES (Tables)

9 Months Ended

Sep. 30, 2014

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 September 30, 2014 and December 31, 2013 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:
September 30, 2014:
Derivatives included with inventory supply arrangement obligations	Accrued expenses	$	1,482
Derivatives included with the intermediation agreement obligations	Accrued expenses	$	35,959
December 31, 2013:
Derivatives included with inventory supply arrangement obligations	Accrued expenses	$	(177	)
Derivatives included with the intermediation agreement obligations	Accrued expenses	$	6,016
Derivatives not designated as hedging instruments:
September 30, 2014:
Commodity contracts	Accounts receivable	$	52,013
Commodity contracts	Accrued expenses	$	(1,732	)
December 31, 2013:
Commodity contracts	Accrued expenses	$	(19,421	)

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 September 30, 2014:
Derivatives included with inventory supply arrangement obligations	Cost of sales	$	2,729
Derivatives included with the intermediation agreement obligations	Cost of sales	$	20,900
For the three months ended September 30, 2013:
Derivatives included with inventory supply arrangement obligations	Cost of sales	$	(4,015	)
Derivatives included with the intermediation agreement obligations	Cost of sales	$	29,563
For the nine months ended September 30, 2014:
Derivatives included with inventory supply arrangement obligations	Cost of sales	$	1,660
Derivatives included with the intermediation agreement obligations	Cost of sales	$	29,942
For the nine months ended September 30, 2013:
Derivatives included with inventory supply arrangement obligations	Cost of sales	$	(6,886	)
Derivatives included with the intermediation agreement obligations	Cost of sales	$	29,563
Derivatives not designated as hedging instruments:
For the three months ended September 30, 2014:
Commodity contracts	Cost of sales	$	70,624
For the three months ended September 30, 2013:
Commodity contracts	Cost of sales	$	(23,843	)
For the nine months ended September 30, 2014:
Commodity contracts	Cost of sales	$	101,902
For the nine months ended September 30, 2013:
Commodity contracts	Cost of sales	$	(9,894	)
Hedged items designated in fair value hedges:
For the three months ended September 30, 2014:
Crude oil and feedstock inventory	Cost of sales	$	(2,729	)
Intermediate and refined product inventory	Cost of sales	$	(20,900	)
For the three months ended September 30, 2013:
Crude oil and feedstock inventory	Cost of sales	$	3,127
Intermediate and refined product inventory	Cost of sales	$	(29,563	)
For the nine months ended September 30, 2014:
Crude oil and feedstock inventory	Cost of sales	$	(1,660	)
Intermediate and refined product inventory	Cost of sales	$	(29,942	)
For the nine months ended September 30, 2013:
Crude oil and feedstock inventory	Cost of sales	$	(378	)
Intermediate and refined product inventory	Cost of sales	$	(29,563	)