Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Financial Instruments, Owned, at Fair Value [Abstract]

Carrying Amounts and Estimated Fair Values of Marketable Securities, Derivatives and Senior Notes

The carrying values of marketable securities and derivative instruments at December 31, 2016 and December 31, 2015 were as follows:

			Fair Value by Input Level
Financial Instrument	Carrying Amount		Level 1		Level 2		Level 3
			(In thousands)
December 31, 2016
Assets:
Marketable securities	$	424,148	$	—	$	424,148	$	—
Commodity price swaps	14,563		—		14,358		205
Commodity forward contracts	5,905		—		5,905		—
HEP interest rate swaps	91		—		91		—
Total assets	$	444,707	$	—	$	444,502	$	205
Liabilities:
NYMEX futures contracts	$	1,975	$	1,975	$	—	$	—
Commodity price swaps	26,845		—		24,086		2,759
Commodity forward contracts	8,316		—		8,316		—
Foreign currency forward contracts	6,519		—		6,519		—
Total liabilities	$	43,655	$	1,975	$	38,921	$	2,759

			Fair Value by Input Level
Financial Instrument	Carrying Amount		Level 1		Level 2		Level 3
	(In thousands)
December 31, 2015
Assets:
Marketable securities	$	144,019	$	—	$	144,019	$	—
NYMEX futures contract	3,469		3,469		—		—
Commodity price swaps	37,097		—		37,097		—
HEP interest rate swaps	304		—		304		—
Total assets	$	184,889	$	3,469	$	181,420	$	—
Liabilities:
Commodity price swaps	$	98,930	$	—	$	98,930	$	—
HEP interest rate swaps	114		—		114		—
Total liabilities	$	99,044	$	—	$	99,044	$	—

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents the changes in fair value of our Level 3 assets and liabilities (all related to derivative instruments) for the years ended December 31, 2016 and 2015:

		Years Ended December 31,
Level 3 Financial Instruments		2016			2015
	(In thousands)
Liability balance at beginning of period		$	—		$	—
Change in fair value:
Recognized in other comprehensive income		(1,460		)	3,852
Recognized in cost of products sold		(1,094		)	—
Settlement date fair value of contractual maturities:
Recognized in sales and other revenues		—			(3,852		)
Liability balance at end of period		$	(2,554	)	$	—