Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding Trading Contracts

	Quantity in	Estimated Market		Weighted Average
At March 31, 2015	Gallons	Prices		Contract Prices
Forward Contracts
Sale	420,000	$	0.4788	$	0.4788
Purchase	421,000	$	0.4775	$	0.4789

Estimated market prices and weighted average contract prices are in dollars per gallon. All contracts expire by the end of the second quarter of 2015.

Fair Values of Derivative Contracts Recorded in Condensed Consolidated Balance Sheet

air values of the derivative contracts recorded in the condensed consolidated balance sheets as of March 31, 2015 and December 31, 2014, are as follows:

	Asset Derivatives
		Fair Value As Of
(in thousands)	Balance Sheet Location	March 31, 2015		December 31, 2014
Derivatives not designated as hedging instruments
Forward contracts	Mark-to-market energy assets	$	8	$	407
Derivatives designated as fair value hedges
Put option(s)	Mark-to-market energy assets	38		622
Derivatives designated as cash flow hedges
Call option	Mark-to-market energy assets	—		26
Total asset derivatives		$	46	$	1,055

	Liability Derivatives
		Fair Value As Of
(in thousands)	Balance Sheet Location	March 31, 2015		December 31, 2014
Derivatives not designated as hedging instruments
Forward contracts	Mark-to-market energy liabilities	$	8	$	283
Propane swap agreements	Mark-to-market energy liabilities	—		735
Derivatives designated as cash flow hedges
Propane swap agreement	Mark-to-market energy liabilities	12		—
Total liability derivatives		$	20	$	1,018

Effects of Gains and Losses from Derivative Instruments on Condensed Consolidated Financial Statements

The effects of gains and losses from derivative instruments on the condensed consolidated financial statements are as follows:

		Amount of Gain (Loss) on Derivatives:
	Location of Gain	For the Three Months Ended March 31,
(in thousands)	(Loss) on Derivatives	2015			2014
Derivatives not designated as hedging instruments
Realized gain on forward contracts (1)	Revenue	$	277		$	1,246
Unrealized loss on forward contracts	Revenue	(125		)	(68		)
Call option	Cost of sales	—			137
Propane swap agreements	Cost of sales	(717		)	—
Derivatives designated as fair value hedges
Put options	Cost of sales	506			(20		)
Put option (2)	Propane Inventory	(3		)	—
Derivatives designated as cash flow hedges
Propane swap agreement	Other Comprehensive loss	(12		)	—
Call options	Cost of sales	(81		)	—
Total		$	(155	)	$	1,295