Inventory Financing Agreements (Tables)

12 Months Ended

Dec. 31, 2022

Other Commitments [Abstract]

Schedule of Obligations Under Inventory Financing Agreements

The following table summarizes our outstanding obligations under our inventory financing agreements (in thousands):

	December 31,
	2022		2021
Supply and Offtake Agreement	$	732,511	$	569,158
Washington Refinery Intermediation Agreement	160,554		168,546
Obligations under inventory financing agreements	$	893,065	$	737,704

Outstanding Borrowings, Letters Of Credit, And Contractual Undertaking Obligations Under The Intermediation Agreements

The following table summarizes our outstanding borrowings, letters of credit, and contractual undertaking obligations under the intermediation agreements (in thousands):

	December 31,
	2022		2021
Discretionary Draw Facility
Outstanding borrowings (1)	$	204,843	$	126,225
Borrowing capacity	204,843		126,225
MLC receivable advances
Outstanding borrowings (1)	56,601		54,538
Borrowing capacity	56,601		54,538
J. Aron payment undertaking obligations	—		—
MLC issued letters of credit	115,001		166,950

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(1)Amounts outstanding under the Discretionary Draw Facility and MLC receivable advances are included in Obligations under inventory financing agreements on our consolidated balance sheets. Changes in the amount outstanding under these arrangements are included within Cash flows from financing activities on the consolidated statements of cash flows.

Schedule of Inventory Intermediation Fees

The following table summarizes the inventory intermediation fees, which are included in Cost of revenues (excluding depreciation) on our consolidated statements of operations, and Interest expense and financing costs, net related to the intermediation agreements (in thousands):

	Year Ended December 31,
	2022		2021		2020
Net fees and expenses:
Supply and Offtake Agreement
Inventory intermediation fees (1)	$	100,610	$	21,612	$	12,034
Interest expense and financing costs, net	6,150		3,015		3,044
Washington Refinery Intermediation Agreement
Inventory intermediation fees	$	3,000	$	3,236	$	4,112
Interest expense and financing costs, net	10,111		4,900		2,791

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(1)Inventory intermediation fees under the Supply and Offtake Agreement include market structure fees of $63.3 million and $4.0 million for the years ended December 31, 2022, and 2021, respectively, and a market structure benefit of $3.0 million for the year ended December 31, 2020.