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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2019
Financial Instruments, Owned, at Fair Value [Abstract]  
Fair Value Measurements Of Asset and Liability Instruments
The carrying amounts of derivative instruments and RINs credit obligations at June 30, 2019 and December 31, 2018 were as follows:
 
 
 
 
Fair Value by Input Level
 
 
Carrying Amount
 
Level 1
 
Level 2
 
Level 3
 
 
(In thousands)
June 30, 2019
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
Commodity price swaps
 
$
20,412

 
$

 
$
20,412

 
$

Commodity forward contracts
 
456

 

 
456

 

Total assets
 
$
20,868

 
$

 
$
20,868

 
$

 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
NYMEX futures contracts
 
$
2,645

 
$
2,645

 
$

 
$

Foreign currency forward contracts
 
1,553

 

 
1,553

 

RINs credit obligations (1)
 
3,485

 

 
3,485

 

Total liabilities
 
$
7,683

 
$
2,645

 
$
5,038

 
$

December 31, 2018
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
NYMEX futures contracts
 
$
2,473

 
$
2,473

 
$

 
$

Foreign currency forward contracts
 
25,956

 

 
25,956

 

Commodity price swaps
 
10,817

 

 
10,817

 

Commodity forward contracts
 
1,034

 

 
1,034

 
$

Total assets
 
$
40,280

 
$
2,473

 
$
37,807

 
$

 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
Commodity price swaps
 
$
956

 
$

 
$
956

 
$

Commodity forward contracts
 
1,137

 

 
1,137

 

RINs credit obligations (1)
 
4,084

 

 
4,084

 

Total liabilities
 
$
6,177

 
$

 
$
6,177

 
$



(1)
Represent obligations for RINs credits for which we do not have sufficient quantities at June 30, 2019 and December 31, 2018 to satisfy our Environmental Protection Agency (“EPA”) regulatory blending requirements.