Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments [Table Text Block]

As of September 30, 2019, our financial instruments were comprised of both long and short commodity positions. A long position is a contract to purchase the commodity and a short position is a contract to sell the commodity. The volume of our open long/(short) commodity derivative contracts were as follows:

Business unit	Commodity	Quantity hedged (in millions)	Designation	Longest Expiration date of hedge
Sharp	Propane (gallons)	11.4	Cash flows hedges	June 2022

Schedule of Due to (from) Broker-Dealers and Clearing Organizations [Table Text Block]

We currently maintain a broker margin account for Sharp, and prior to September 30, 2019, we also maintained a broker margin account for PESCO. The balances related to the margin accounts are as follows:

(in thousands)	Balance Sheet Location	September 30, 2019			December 31, 2018
Sharp	Other Current Assets	$	2,488		$	2,170
PESCO	Other Current Assets	$	(524	)	$	2,810

Fair Values of Derivative Contracts Recorded in Condensed Consolidated Balance Sheet

The fair values of the derivative contracts recorded in the condensed consolidated balance sheets as of September 30, 2019 and December 31, 2018, are as follows: 

	Derivative Assets
		Fair Value As Of
(in thousands)	Balance Sheet Location	September 30, 2019		December 31, 2018
Derivatives designated as fair value hedges
Propane put options	Derivative assets, at fair value	$	—	$	71
Derivatives designated as cash flow hedges
Propane swap agreements	Derivative assets, at fair value	—		11
Total asset derivatives		$	—	$	82

	Derivative Liabilities
		Fair Value As Of
(in thousands)	Balance Sheet Location	September 30, 2019		December 31, 2018
Derivatives designated as cash flow hedges
Propane swap agreements	Derivative liabilities, at fair value	$	2,216	$	1,604
Total liability derivatives		$	2,216	$	1,604

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 September 30,						For the Nine Months Ended September 30,
(in thousands)	(Loss) on Derivatives	2019			2018			2019			2018
Derivatives not designated as hedging instruments
Propane swap agreements	Cost of sales	$	—		$	—		$	—		$	(13	)
Derivatives designated as cash flow hedges
Propane swap agreements	Cost of sales	290			(276		)	1,148			(921		)
Propane swap agreements	Other comprehensive income (loss)	(1,139		)	296			(624		)	(590		)
Natural gas swap contracts	Other comprehensive income (loss)	4			(25		)	(63		)	563
Natural gas futures contracts	Other comprehensive income (loss)	1,612			630			2,376			(241		)
Total		$	767		$	625		$	2,837		$	(1,202	)

Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

As of September 30, 2019, the following amounts were recorded in the condensed consolidated balance sheets related to fair value hedges:

(in thousands)	Carrying Amount of Hedged Item				Cumulative Adjustment Included in Carrying Amount of Hedged Item
Balance Sheet Location of Hedged Items	At September 30, 2019		At December 31, 2018		At September 30, 2019		At December 31, 2018
Inventory	$	—	$	212	$	—	$	—