Defined Benefit Plan

9 Months Ended

Sep. 30, 2017

Compensation and Retirement Disclosure [Abstract]

We maintain a defined benefit pension plan (the “Benefit Plan”) covering substantially all of our Wyoming Refining employees. Benefits are based on years of service and the employee’s highest average compensation received during five consecutive years of the last 10 years of employment. Our funding policy is to contribute annually an amount equal to the pension expense, subject to the minimum funding requirements of the Employee Retirement Income Security Act of 1974 and the tax deductibility of such contributions. As of September 30, 2017 and December 31, 2016, we had no amounts recorded in Accumulated other comprehensive income that are expected to be amortized into net periodic benefit cost in 2017. The Benefit Plan was assumed in connection with the WRC Acquisition on July 14, 2016.

The net periodic benefit cost (credit) related to our defined benefit plan includes the following components (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
Components of net periodic benefit cost (credit):
Service cost	$	153		$	334		$	460		$	334
Interest cost	298			299			894			299
Expected return on plan assets	(297		)	(343		)	(892		)	(343		)
Net periodic benefit cost	$	154		$	290		$	462		$	290