Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2012

Derivative Instruments And Hedging Activities [Abstract]

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The following table presents the pre-tax effect on other comprehensive income (“OCI”) and earnings due to fair value adjustments and maturities of commodity price swaps under hedge accounting:

	Unrealized Gain (Loss) Recognized in OCI			Gain (Loss) Recognized in Earnings Due to Settlements				Gain (Loss) Attributable to Hedge Ineffectiveness Recognized in Earnings
				Location	Amount			Location	Amount
				(In thousands)
Year Ended December 31, 2012
Commodity price swaps
Change in fair value	$	(248,399	)	Sales and other revenues	$	(98,750	)	Sales and other revenues	$	(491	)
Loss reclassified to earnings due to settlements	55,175			Cost of products sold	43,575			Cost of products sold	(515		)
Total	$	(193,224	)		$	(55,175	)		$	(1,006	)
Year Ended December 31, 2011
Commodity price swaps
Change in fair value	$	173,208
Loss reclassified to earnings due to settlements	166			Operating expenses	$	(166	)	Cost of products sold	$	446
Total	$	173,374			$	(166	)		$	446
Year Ended December 31, 2010
Commodity price swaps
Change in fair value	$	(1,402	)
Loss reclassified to earnings due to settlements	1,364			Operating expenses	$	(1,364	)		$	—
Total	$	(38	)		$	(1,364	)		$	—

Summary Of Balance Sheet Locations And Related Fair Values Of Outstanding Derivative Instruments

As of December 31, 2012, we have the following notional contract volumes related to outstanding swap contracts serving as cash flow hedges against price risk on forecasted purchases of natural gas and crude oil and sales of refined products:

		Notional Contract Volumes by Year of Maturity
Commodity Price Swaps	Total Outstanding Notional	2013	2014	2015	2016	2017	Unit of Measure
Natural gas - long	96,000,000	19,200,000	19,200,000	19,200,000	19,200,000	19,200,000	MMBTU
WTI crude oil - long	12,930,000	12,565,000	365,000	—	—	—	Barrels
Ultra-low sulfur diesel - short	11,490,000	11,125,000	365,000	—	—	—	Barrels
Unleaded gasoline - short	1,440,000	1,440,000	—	—	—	—	Barrels

Schedule of Realized Gain (Loss)

The following table presents the pre-tax effect on income due to maturities and fair value adjustments of our economic hedges:

	Years Ended December 31,
Location of Gain Recognized in Income	2012		2011		2010
	(In thousands)
Cost of products sold	$	12,295	$	3,219	$	317
Operating expenses	573		—		—
Total	$	12,868	$	3,219	$	317

Schedule of Notional Amounts of Outstanding Derivative Positions

As of December 31, 2012, we have the following notional contract volumes related to our outstanding derivative contracts serving as economic hedges, all maturing in 2013:

Derivative Instrument	Total Outstanding Notional	Unit of Measure
Commodity price swap (WCS spread) - long	6,022,500	Barrels
Commodity price swap (WTI) - short	150,000	Barrels
Commodity price swap (gasoline) - short	192,000	Barrels
NYMEX futures (WTI) - long	234,000	Barrels
NYMEX futures (WTI) - short	1,091,000	Barrels
Physical contracts - long	540,000	Barrels
Physical contracts - short	540,000	Barrels

Schedule of Interest Rate Derivatives

The following table presents the pre-tax effect on other comprehensive income and earnings due to fair value adjustments and maturities of HEP's interest rate swaps under cash flow hedge accounting:

	Unrealized Gain (Loss) Recognized in OCI			Loss Recognized in Earnings Due to Settlements
				Location	Amount
				(In thousands)
Year Ended December 31, 2012
Interest rate swaps
Change in fair value	$	(4,418	)
Loss reclassified to earnings due to settlements	6,603			Interest expense	$	(6,603	)
Total	$	2,185			$	(6,603	)
Year Ended December 31, 2011
Interest rate swaps
Change in fair value	$	(1,915	)
Loss reclassified to earnings due to settlements	5,477			Interest expense	$	(5,477	)
Total	$	3,562			$	(5,477	)
Year Ended December 31, 2010
Interest rate swaps
Change in fair value	$	(7,596	)
Loss reclassified to earnings due to settlements	6,711			Interest expense	$	(6,711	)
Total	$	(885	)		$	(6,711	)

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table presents balance sheet locations and fair values of our outstanding derivative instruments. These amounts are presented on a gross basis and do not reflect the netting of asset or liability positions permitted under the terms of master netting arrangements. Therefore, they are not equal to amounts presented in our consolidated balance sheets.

	Asset Derivatives			Liability Derivatives
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
	(In thousands)
December 31, 2012
Derivatives designated as cash flow hedging instruments:
Commodity price swap contracts	Accrued liabilities	$	17,383	Accrued liabilities	$	28,054
				Other long-term liabilities	9,774
Variable-to-fixed interest rate swap contracts				Other long-term liabilities	3,430
Total		$	17,383		$	41,258
Derivatives not designated as hedging instruments:
Commodity price swap contracts				Accrued liabilities	$	51,717
Total					$	51,717