Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2017

Financial Instruments, Owned, at Fair Value [Abstract]

Fair Value Measurements Of Asset and Liability Instruments

The carrying amounts of marketable securities and derivative instruments at June 30, 2017 and December 31, 2016 were as follows:

			Fair Value by Input Level
	Carrying Amount		Level 1		Level 2		Level 3
	(In thousands)
June 30, 2017
Assets:
NYMEX futures contracts	$	662	$	662	$	—	$	—
Commodity price swaps	7,863		—		7,863		—
Commodity forward contracts	1,447		—		1,447		—
HEP interest rate swaps	63		—		63		—
Total assets	$	10,035	$	662	$	9,373	$	—
Liabilities:
Commodity price swaps	$	20,631	$	—	$	20,631	$	—
Commodity forward contracts	1,218		—		1,218		—
Total liabilities	$	21,849	$	—	$	21,849	$	—

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, Recurring Basis, Level 3 Roll Forward

The following table presents the changes in fair value of our Level 3 assets and liabilities (all related to derivative instruments) for the three and six months ended June 30, 2017:

	Three Months Ended June 30, 2017		Six Months Ended June 30, 2017
Level 3 Instruments
	(In thousands)
Liability balance at beginning of period	$	—	$	(2,554	)
Change in fair value:
Recognized in other comprehensive income	—		1,625
Recognized in cost of products sold	—		(1		)
Settlement date fair value of contractual maturities:
Recognized in sales and other revenues	—		(165		)
Recognized in cost of products sold	—		1,095
Liability balance at end of period	$	—	$	—