XML 67 R45.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Derivatives (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2011
Derivatives [Abstract] |
Schedule Of Outstanding Derivatives Entered Into Hedge Inventory Or Fixed Price Purchase Commitments |
|  | Sell (Short) Contracts |  |  | Buy (Long) Contracts |
Not qualifying or not designated as hedges under accounting rules: |  |  |  |  |  |  |  |
Crude oil futures: |  |  |  |  |  |  |  |
Contract volumes (1,000 bbls) |  |  | 169 |  |  |  | 90 |
Weighted average contract price per bbl |  | $ | 96.16 |  |  | $ | 98.83 |
Heating oil futures: |  |  |  |  |  |  |  |
Contract volumes (1,000 bbls) |  |  | 178 |  |  |  | 60 |
Weighted average contract price per gal |  | $ | 2.86 |  |  | $ | 2.83 |
RBOB gasoline futures: |  |  |  |  |  |  |  |
Contract volumes (1,000 bbls) |  |  | 15 |  |  |  | — |
Weighted average contract price per gal |  | $ | 2.66 |  |  | $ | — |
# 6 Fuel oil futures: |  |  |  |  |  |  |  |
Contract volumes (1,000 bbls) |  |  | 489 |  |  |  | — |
Weighted average contract price per bbl |  | $ | 93.73 |  |  | $ | — |
Crude oil options: |  |  |  |  |  |  |  |
Contract volumes (1,000 bbls) |  |  | 355 |  |  |  | 75 |
Weighted average premium received |  | $ | 2.05 |  |  | $ | 0.56 |
Heating oil options: |  |  |  |  |  |  |  |
Contract volumes (1,000 bbls) |  |  | 30 |  |  |  | — |
Weighted average premium received |  | $ | 0.09 |  |  | $ | — |
Schedule Of Accounting Treatment And Classification Of Derivative Instruments |
Derivative Instrument |  | Hedged Risk |  | Impact of Unrealized Gains and Losses
|  | Consolidated Balance Sheets |  | Consolidated Statements of Operations
Designated as hedges under accounting guidance: |  |  |  |  |  |
Crude oil futures contracts (fair value hedge) |  | Volatility in crude oil prices - effect on market value of inventory |  | Derivative is recorded in Other current assets (offset against margin deposits) and offsetting change in fair value of inventory is recorded in Inventories |  | Excess, if any, over effective portion of hedge is recorded in Supply and logistics costs - product costs Effective portion is offset in cost of sales against change in value of inventory being hedged
Interest rate swaps (cash flow hedge) (through July 2010) |  | Changes in interest rates |  | Not applicable |  | Expect hedge to fully offset hedged risk; no ineffectiveness recorded. Effective portion is recorded to AOCL and ultimately reclassified to Interest expense
Not qualifying or not designated as hedges under accounting guidance: |  |  |  |  |  |
Commodity hedges consisting of crude oil, heating oil and natural gas futures and forward contracts and call options |  | Volatility in crude oil and petroleum products prices - effect on market value of inventory or purchase commitments |  | Derivative is recorded in Other current assets (offset against margin deposits) or Accrued liabilities |  | Entire amount of change in fair value of derivative is recorded in Supply and logistics costs - product costs
Schedule Of Fair Value Of Derivative Assets And Liabilities |
|  | Asset Derivatives |
|  | Consolidated Balance Sheets |  |  | Fair Value |
|  | Location |  |  | December 31, 2011 |  |  | December 31, 2010 |
Commodity derivatives—futures and call options: |  |  |  |  |  |  |  |  |  |  |  |
Hedges designated under accounting guidance as fair value hedges |  |  | Other Current Assets |  |  | $ | — |  |  | $ | 14 |
Undesignated hedges |  |  | Other Current Assets |  |  |  | 306 |  |  |  | 493 |
Total asset derivatives |  |  |  |  |  | $ | 306 |  |  | $ | 507 |
|  | Liability Derivatives |
|  | Consolidated Balance Sheets |  |  | Fair Value |
|  | Location |  |  | December 31, 2011 |  |  | December 31, 2010 |
Commodity derivatives—forwards futures and call options: |  |  |  |  |  |  |  |  |  |  |  |
Hedges designated under accounting guidance as fair value hedges |  |  | Other Current Assets |  |  | $ | — |  |  | $ | (191 | ) (1)
Undesignated hedges |  |  | Other Current Assets |  |  |  | (2,820 | ) (1) |  |  | (2,283 | ) (1)
Total liability derivatives |  |  |  |  |  | $ | (2,820 | ) |  | $ | (2,474 | )
(1) | These derivative liabilities have been funded with margin deposits recorded in our Consolidated Balance Sheets in other current assets.
Schedule Of Effect On Consolidated Statements Of Operations And Other Comprehensive Income (Loss) |
|  | Amount of Gain (Loss) Recognized in Income |
|  | Supply & Logistics Product Costs |  |  | Interest Expense Reclassified from AOCL |  |  | Other Comprehensive Loss Effective Portion |
|  | Year Ended December 31, |  |  | Year Ended December 31, |  |  | Year Ended December 31, |
|  | 2011 |  |  | 2010 |  |  | 2011 |  |  | 2010 |  |  | 2011 |  |  | 2010 |
Commodity derivatives—futures and call options: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contracts designated as hedges under accounting guidance |  | $ | (173 | ) (1) |  | $ | 307 | (1) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Contracts not considered hedges under accounting guidance |  |  | (17,419 | ) |  |  | (4 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total commodity derivatives |  |  | (17,592 | ) |  |  | 303 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Interest rate swaps designated as cash flow hedges under accounting guidance |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2,112 | ) |  |  | — |  |  |  | (424 | )
Total derivatives |  | $ | (17,592 | ) |  | $ | 303 |  |  | $ | — |  |  | $ | (2,112 | ) |  | $ | — |  |  | $ | (424 | )
(1) | Represents the amount of gain (loss) recognized in income for derivatives related to the fair value hedge of inventory. The amount excludes the gain on the hedged inventory under the fair value hedge of $0.8 million and $1 million for the year ended 2011 and 2010, respectively.

X
- Definition Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Accounting Treatment And Classification [Table Text Block] + References No definition available. + Details
Name: | gel_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionAccountingTreatmentAndClassificationTableTextBlock
Namespace Prefix: | gel_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624171-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5618551-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624163-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5580258-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624163-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6935481&loc=d3e41620-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624171-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6935481&loc=d3e41641-113959 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5579245-113959 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5579240-113959 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6935481&loc=d3e41678-113959 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6935481&loc=d3e41638-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration