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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements Of Asset and Liability Instruments

The carrying amounts of derivative instruments and RINs receivable and credit obligations were as follows:

						Carrying Amount						Fair Value by Input Level
Financial Instrument												Level 1						Level 2						Level 3
						(In thousands)
December 31, 2022
Assets:
Commodity price swaps						$	342					$	—					$	342					$	—
Commodity forward contracts						2,949						—						2,949						—
RINS receivable (1)						81,232						—						81,232						—
Foreign currency forward contracts						15,359						—						15,359						—
Total assets						$	99,882					$	—					$	99,882					$	—
Liabilities:
NYMEX futures contracts						$	2,750					$	2,750					$	—					$	—
Commodity collar contracts						6,275						—						6,275						—
Commodity forward contracts						2,987						—						2,987						—
RINs credit obligations (1)						81,232						—						81,232						—
Total liabilities						$	93,244					$	2,750					$	90,494					$	—

						Carrying Amount						Fair Value by Input Level
Financial Instrument												Level 1						Level 2						Level 3
						(In thousands)
December 31, 2021
Assets:
Commodity forward contracts						$	286					$	—					$	286					$	—
Foreign currency forward contracts						6,177						—						6,177						—
Total assets						$	6,463					$	—					$	6,463					$	—
Liabilities:
NYMEX futures contracts						$	1,269					$	1,269					$	—					$	—
Commodity forward contracts						566						—						566						—
RINs credit obligations (2)						9,429						—						9,429						—
Total liabilities						$	11,264					$	1,269					$	9,995					$	—

(1)REH Company is financially responsible for satisfaction of RINs credit obligations for all periods prior to the closing of the Sinclair Transactions. See Note 2 for additional information on RINs credit obligations assumed in the Sinclair Transactions.

(2)Represent obligations for RINs credits for which we did not have sufficient quantities at December 31, 2021 to satisfy our Environmental Protection Agency (“EPA”) regulatory blending requirements.

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- References

No definition available.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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