Inventories (Tables)

3 Months Ended

Mar. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories at March 31, 2023 and December 31, 2022 consisted of the following (in thousands):

	Titled Inventory		Supply and Offtake Agreement (1)		Total
March 31, 2023
Crude oil and feedstocks	$	169,144	$	161,261	$	330,405
Refined products and blendstock	181,199		169,920		351,119
Warehouse stock and other (2)	248,050		—		248,050
Total	$	598,393	$	331,181	$	929,574
December 31, 2022
Crude oil and feedstocks	$	112,082	$	265,536	$	377,618
Refined products and blendstock	188,040		168,624		356,664
Warehouse stock and other (2)	307,701		—		307,701
Total	$	607,823	$	434,160	$	1,041,983

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(1)Please read Note 8—Inventory Financing Agreements for further information.

(2)Includes $193.2 million and $258.2 million of RINs and environmental credits, reported at the lower of cost or net realizable value, as of March 31, 2023 and December 31, 2022, respectively. RINs and environmental credit obligations of $346.7 million and $549.8 million, reported at market value, are included in Other accrued liabilities on our condensed consolidated balance sheets as of March 31, 2023 and December 31, 2022, respectively.