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Assets and Liabilities Measured at Fair Value (Tables)
12 Months Ended
Dec. 31, 2014
Assets and Liabilities Measured at Fair Value [Abstract]  
Carrying Value of Assets and Liabilities Recorded at Fair Value on Recurring Basis

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

(Thousands of dollars)

Fair Value at
December 31, 2014

 

Quoted Prices
in Active Markets
for Identical
Assets (Liabilities)
(Level 1)

 

Significant
Other Observable
Inputs
(Level 2)

 

Significant
Unobservable
Inputs
(Level 3)

Assets

 

 

 

 

 

 

 

 

        Commodity derivative contracts

$

23,168 

 

– 

 

23,168 

 

– 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

        Nonqualified employee savings plan

$

(14,408)

 

(14,408)

 

– 

 

– 

        Foreign currency exchange
             derivative contracts

 

(25)

 

– 

 

(25)

 

– 

                    Total

$

(14,433)

 

(14,408)

 

(25)

 

– 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

(Thousands of dollars)

Fair Value at
December 31, 2013

 

Quoted Prices
in Active Markets
for Identical
Assets (Liabilities)
(Level 1)

 

Significant
Other Observable
Inputs
(Level 2)

 

Significant
Unobservable
Inputs
(Level 3)

Assets

 

 

 

 

 

 

 

 

        Commodity derivative contracts

$

1,970 

 

– 

 

1,970 

 

– 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

        Nonqualified employee savings plan

$

(13,267)

 

(13,267)

 

– 

 

– 

        Foreign currency exchange
             derivative contracts

 

(1,038)

 

– 

 

(1,038)

 

– 

                    Total

$

(14,305)

 

(13,267)

 

(1,038)

 

– 

 

Carrying Amounts and Estimated Fair Values of Financial Instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31,

 

2014

 

2013

(Thousands of dollars)

Carrying
Amount

 

Fair
Value

 

Carrying
Amount

 

Fair
Value

Financial assets (liabilities):

 

 

 

 

 

 

 

 

        Canadian government securities with maturities
            greater than 90 days at the date of acquisition

$

461,313 

 

462,056 

 

374,842 

 

375,623 

        Current and long-term debt

 

(3,001,626)

 

(2,774,065)

 

(2,962,812)

 

(2,822,827)