Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments [Table Text Block]

As of March 31, 2024, the volume of our commodity derivative contracts were as follows:

Business unit	Commodity	Contract Type	Quantity hedged (in millions)	Designation	Longest Expiration date of hedge
Sharp	Propane (gallons)	Purchases	8.8	Cash flow hedges	June 2026

Fair Values of Derivative Contracts Recorded in Condensed Consolidated Balance Sheet

March 31, 2024 and December 31, 2023, are as follows: 

	Derivative Assets
		Fair Value As Of
(in thousands)	Balance Sheet Location	March 31, 2024		December 31, 2023
Derivatives designated as cash flow hedges
Propane swap agreements	Derivative assets, at fair value	$	589	$	702
Interest rate swap agreements	Derivative assets, at fair value	549		365
Total Derivative Assets (1)		$	1,138	$	1,067

 (1) Derivative assets, at fair value, include $1.0 million in current assets in the condensed consolidated balance sheet at both March 31, 2024 and December 31, 2023, with the remainder of the balance classified as long-term.

	Derivative Liabilities
		Fair Value As Of
(in thousands)	Balance Sheet Location	March 31, 2024		December 31, 2023
Derivatives designated as cash flow hedges
Propane swap agreements	Derivative liabilities, at fair value	$	74	$	1,078
Interest rate swap agreements	Derivative liabilities, at fair value	—		203
Total Derivative Liabilities (1)		$	74	$	1,281

(1) Derivative liabilities, at fair value, were not material at March 31, 2024, and included $0.4 million in current liabilities in the condensed consolidated balance sheet at December 31, 2023, with the remainder of the balance classified as long-term.

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	2024		2023
Derivatives designated as cash flow hedges
Propane swap agreements	Revenues	$	(307)	$	733
Propane swap agreements	Unregulated propane and natural gas costs	1,391		(127)
Interest rate swap agreements	Interest expense	172		65
Total		$	1,256	$	671