Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Schedule of Derivative Instruments [Table Text Block]

As of December 31, 2020, 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)	17.6	Cash flows hedges	May 2023
Sharp	Propane (gallons)	0.4	Fair value hedges	February 2021

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

(in thousands)	Balance Sheet Location	December 31, 2020		December 31, 2019
Sharp	Other Current Assets	$	—	$	2,317
Sharp	Other Current Liabilities	$	1,505	$	—

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, 2020 and 2019 are as follows:

	Derivative Assets
		Fair Value as of
(in thousands)	Balance Sheet Location	December 31, 2020		December 31, 2019
Derivatives designated as fair value hedges
Propane put options	Derivative assets, at fair value	$	14	$	—
Derivatives designated as cash flow hedges
Propane swap agreements	Derivative assets, at fair value	3,255		—
Total Derivative Assets		$	3,269	$	—

 

	Derivative Liabilities
		Fair Value as of
(in thousands)	Balance Sheet Location	December 31, 2020		December 31, 2019
Derivatives designated as fair value hedges
Propane put options	Derivative liabilities, at fair value	$	23	$	—
Derivatives designated as cash flow hedges
Propane swap agreements	Derivative liabilities, at fair value	64		1,844
Interest rate swap agreements	Derivative liabilities, at fair value	40		—
Total Derivative Liabilities		$	127	$	1,844

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)		2020		2019		2018
Derivatives not designated as hedging instruments
Propane swap agreements	Cost of sales	$	—	$	—	$	(13)
Derivatives designated as fair value hedges
Put/Call option	Cost of sales	(12)		—		—
Put/Call option	Propane inventory	34		—		—
Derivatives designated as cash flow hedges
Propane swap agreements	Cost of sales	2,428		1,520		(647)
Propane swap agreements	Other comprehensive income (loss)	5,035		(253)		(2,773)
Interest rate swap agreements	Interest expense	60		—		—
Interest rate swap agreements	Other comprehensive income (loss)	(40)		—		—
Natural gas swap contracts	Other comprehensive income (loss)	—		(63)		200
Natural gas futures contracts	Other comprehensive income (loss)	—		(294)		532
Total		$	7,505	$	910	$	(2,701)