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Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Plans Disclosures
The changes in the projected benefit obligation and the fair value of plan assets of our Benefit Plans for the years ended December 31, 2019 and 2018 were as follows (in thousands):
 
2019
 
2018
Changes in projected benefit obligation:

 
 
Projected benefit obligation as of the beginning of the period
$
27,539

 
$
30,877

Acquired
16,831

 
—

Service cost
910

 
548

Interest cost
1,794

 
1,107

Actuarial (gain) loss
6,688

 
(2,917
)
Benefits paid
(1,620
)
 
(2,076
)
Projected benefit obligation as of the end of the period
$
52,142

 
$
27,539

 
 
 
 
Changes in fair value of plan assets:
 
 
 
Fair value of plan assets as of the beginning of the period
$
20,254

 
$
23,461

Acquired
16,027

 
—

Actual return (loss) on plan assets
6,405

 
(1,131
)
Employer contributions
1,800

 
—

Benefits paid
(1,620
)
 
(2,076
)
Fair value of plan assets as of the end of the period
$
42,866

 
$
20,254
Schedule of Accumulated and Projected Benefit Obligations The reconciliation of the underfunded status of our Benefit Plans of December 31, 2019 and 2018 was as follows:
 
2019
 
2018
Projected benefit obligation
$
52,142

 
$
27,539

Fair value of plan assets
42,866

 
20,254

Underfunded status
$
9,276

 
$
7,285

 
 
 
 
Gross amounts recognized in accumulated other comprehensive income: (1)
 
 
 
Net actuarial gain (loss)
$
(2,622
)
 
$
3,494

____________________________________________________
(1)
As of December 31, 2019, we had an immaterial amount of service costs recognized in accumulated other comprehensive income. As of December 31, 2019, we had $0.2 million in accumulated other comprehensive income that is expected to be amortized into net periodic benefit cost in 2020.
Schedule of Assumptions Used
Weighted-average assumptions used to measure our projected benefit obligation as of December 31, 2019, 2018, and 2017 and net periodic benefit costs for the years ended December 31, 2019, 2018 and 2017 are as follows:
 
2019
 
2018
 
2017
Projected benefit obligation:
 
 
 
 
 
Wyoming Refining plan
 
 
 
 
 
Discount rate (1)
3.30
%
 
4.20
%
 
3.65
%
Rate of compensation increase
3.00
%
 
3.00
%
 
3.00
%
U.S. Oil plan
 
 
 
 
 
Discount rate (1)
3.10
%
 
—
%
 
—
%
Rate of compensation increase
3.00
%
 
—
%
 
—
%
 
 
 
 
 
 
Net periodic benefit costs:
 
 
 
 
 
Wyoming Refining plan
 
 
 
 
 
Discount rate (1)
4.20
%
 
3.65
%
 
4.20
%
Expected long-term rate of return (2)
6.50
%
 
6.50
%
 
6.25
%
Rate of compensation increase
3.00
%
 
3.00
%
 
4.30
%
U.S. Oil plan
 
 
 
 
 
Discount rate (1)
4.10
%
 
—
%
 
—
%
Expected long-term rate of return (2)
6.00
%
 
—
%
 
—
%
Rate of compensation increase
3.00
%
 
—
%
 
—
%
_________________________________________________________
(1)
In determining the discount rate, we use yields on high-quality fixed income investments with payments matched to the estimated distributions of benefits from our plans.
(2)
The expected long-term rate of return is based on a blend of historic returns of equity and debt securities.
Schedule of Net Benefit Costs
The net periodic benefit cost for the years ended December 31, 2019, 2018, and 2017 includes the following components:
 
2019
 
2018
 
2017
Components of net periodic benefit cost:
 
 
 
 
 
Service cost
$
910

 
$
548

 
$
614

Interest cost
1,794

 
1,107

 
1,192

Expected return on plan assets
(1,972
)
 
(1,258
)
 
(1,189
)
Amortization of net loss
95

 
—

 
—

Amortization of prior service cost
3

 
—

 
—

Net periodic benefit cost
$
830


$
397

 
$
617
Schedule of Allocation of Plan Assets
The weighted-average asset allocation for our Wyoming Refining plan at December 31, 2019 is as follows:
 
Target
 
Actual
Asset category:
 
 
 
Equity securities
54
%
 
56
%
Debt securities
35
%
 
32
%
Real estate
11
%
 
12
%
Total
100
%
 
100
%

The weighted-average asset allocation for our U.S. Oil plan at December 31, 2019 is as follows:
 
Target Range
 
Actual
Asset category:
 
 
 
Equity securities
40 - 80%

 
62
%
Debt securities
20 - 60%

 
38
%
Cash and Cash Equivalents
0 - 30%

 
—
%
Total
100
%
 
100
%
Schedule of Expected Benefit Payments Based on current data and assumptions, the following benefit payments, which reflect expected future service, as appropriate, are expected to be paid over the next 10 years:
Year Ended
 
 
2020
 
$
2,215

2021
 
2,007

2022
 
2,082

2023
 
2,203

2024
 
2,234

Thereafter
 
13,095

 
 
$
23,836