Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Text Block [Abstract]

Schedule of Derivative Instruments [Table Text Block]

As of December 31, 2019, the volume of our open commodity derivative contracts were as follows:

Business unit	Commodity	Quantity hedged (in millions)	Designation	Longest expiration date of hedge
Sharp	Propane (gallons)	9.9	Cash flows hedges	June 2022

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

(in thousands)	Balance Sheet Location	December 31, 2019		December 31, 2018
Sharp	Other Current Assets	$	2,317	$	2,173

Fair Values of Derivative Contracts Recorded in Consolidated Balance Sheets

Fair values of the derivative contracts recorded in the consolidated balance sheets as of December 31, 2019 and 2018 are as follows:

	Derivative Assets
		Fair Value as of
(in thousands)	Balance Sheet Location	December 31, 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 Derivative Assets		$	—	$	82

 

	Derivative Liabilities
		Fair Value as of
(in thousands)	Balance Sheet Location	December 31, 2019		December 31, 2018
Derivatives designated as cash flow hedges
Propane swap agreements	Derivative liabilities, at fair value	$	1,844	$	1,604
Total Derivative Liabilities		$	1,844	$	1,604

Derivative Instruments, Gain (Loss) [Table Text Block]

 The effects of gains and losses from derivative instruments are as follows:

	Amount of Gain (Loss) on Derivatives:
	Location of Gain (Loss) on Derivatives	For the Year Ended December 31,
(in thousands)		2019			2018			2017
Derivatives not designated as hedging instruments
Realized gain on forward contracts and options (1)	Revenue	$	—		$	—		$	112
Propane swap agreements	Cost of sales	—			(13		)	8
Derivatives designated as fair value hedges
Put/Call option	Cost of sales	—			—			(9		)
Derivatives designated as cash flow hedges
Propane swap agreements	Cost of sales	1,520			(647		)	1,607
Propane swap agreements	Other comprehensive income (loss)	(253		)	(2,773		)	487
Natural gas swap contracts	Other comprehensive income (loss)	(63		)	200			986
Natural gas futures contracts	Other comprehensive income (loss)	(294		)	532			(1,476		)
Total		$	910		$	(2,701	)	$	1,715

⁽¹⁾ All of the realized and unrealized gain (loss) on forward contracts represented the effect of trading activities for Xeron on our consolidated statement of income.