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Derivatives (Tables) | 9 Months Ended
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Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Outstanding Derivatives Entered Into to Hedge Inventory or Fixed Price Purchase Commitments | At September 30, 2019, we entered into the following outstanding derivative commodity contracts to economically hedge inventory or fixed price purchase commitments.
|  | Sell (Short) Contracts |  | Buy (Long) Contracts
Designated as hedges under accounting rules: |  |  |  |
Crude oil futures: |  |  |  |
Contract volumes (1,000 bbls) |  | 49 |  |  | — |
Weighted average contract price per bbl |  | $ | 57.20 |  |  | $ | — |
Not qualifying or not designated as hedges under accounting rules: |  |  |  |
Crude oil futures: |  |  |  |
Contract volumes (1,000 bbls) |  | 312 |  |  | 181 |
Weighted average contract price per bbl |  | $ | 57.68 |  |  | $ | 57.63 |
Natural gas swaps: |  |  |  |
Contract volumes (10,000 MMBTU) |  | 549 |  |  | — |
Weighted average price differential per MMBTU |  | $ | 0.41 |  |  | $ | — |
Natural gas futures: |  |  |  |
Contract volumes (10,000 MMBTU) |  | 92 |  |  | 591 |
Weighted average contract price per MMBTU |  | $ | 2.31 |  |  | $ | 2.69 |
NYM NYHBRULSD: |  |  |  |
Contract volumes (42,000 gal) |  | 2 |  |  | 2 |
Weighted average contract price per gallon |  | $ | 2.01 |  |  | $ | 1.99 |
NYM RBOB Gas futures: |  |  |  |
Contract volumes (42,000 gal) |  | 6 |  |  | 6 |
Weighted average contract price per gallon |  | $ | 1.62 |  |  | $ | 1.53 |
Fuel oil futures: |  |  |  |
Contract volumes (1,000 bbls) |  | 140 |  |  | 155 |
Weighted average contract price per bbl |  | $ | 44.15 |  |  | $ | 42.49 |
Crude oil options: |  |  |  |
Contract volumes (1,000 bbls) |  | 33 |  |  | 5 |
Weighted average premium received/paid |  | $ | 1.37 |  |  | $ | 0.27 |
Schedule of Fair Value of Derivative Assets and Liabilities | The following tables reflect the estimated fair value gain (loss) position of our derivatives at September 30, 2019 and December 31, 2018: Fair Value of Derivative Assets and Liabilities
| Unaudited Condensed Consolidated Balance Sheets Location |  | Fair Value
| September 30, 2019 |  | December 31, 2018
Asset Derivatives: |  |  |  |  |
Commodity derivatives - futures and call options (undesignated hedges): |  |  |  |  |
Gross amount of recognized assets | Current Assets - Other |  | $ | 1,685 |  |  | $ | 3,431 |
Gross amount offset in the Unaudited Condensed Consolidated Balance Sheets | Current Assets - Other |  | (1,685 | ) |  | (1,361 | )
Net amount of assets presented in the Unaudited Condensed Consolidated Balance Sheets related to commodity derivatives |  |  | $ | — |  |  | $ | 2,070 |
Natural Gas Swap (undesignated hedge) | Current Assets - Other |  | 361 |  |  | 1,274 |
Commodity derivatives - futures and call options (designated hedges): |  |  |  |  |
Gross amount of recognized assets | Current Assets - Other |  | $ | 161 |  |  | $ | 469 |
Gross amount offset in the Unaudited Condensed Consolidated Balance Sheets | Current Assets - Other |  | (161 | ) |  | (44 | )
Net amount of assets presented in the Unaudited Condensed Consolidated Balance Sheets related to commodity derivatives |  |  | $ | — |  |  | $ | 425 |
Liability Derivatives: |  |  |  |  |
Preferred Distribution Rate Reset Election (2) | Other long-term liabilities |  | (42,183 | ) |  | (40,840 | )
Natural Gas Swap (undesignated hedge) | Current Liabilities - Accrued Liabilities |  | (186 | ) |  | (125 | )
Commodity derivatives - futures and call options (undesignated hedges): |  |  |  |  |
Gross amount of recognized liabilities | Current Assets - Other (1) |  | $ | (2,871 | ) |  | $ | (1,361 | )
Gross amount offset in the Unaudited Condensed Consolidated Balance Sheets | Current Assets - Other (1) |  | 2,871 |  |  | 1,361 |
Net amount of liabilities presented in the Unaudited Condensed Consolidated Balance Sheets related to commodity derivatives |  |  | $ | — |  |  | $ | — |
Commodity derivatives - futures and call options (designated hedges): |  |  |  |  |
Gross amount of recognized liabilities | Current Assets - Other (1) |  | $ | (7 | ) |  | $ | (44 | )
Gross amount offset in the Unaudited Condensed Consolidated Balance Sheets | Current Assets - Other (1) |  | 7 |  |  | 44 |
Net amount of liabilities presented in the Unaudited Condensed Consolidated Balance Sheets related to commodity derivatives |  |  | $ | — |  |  | $ | — |
(1) | These derivative liabilities have been funded with margin deposits recorded in our Unaudited Condensed Consolidated Balance Sheets under Current Assets - Other.
(2) Refer to Note 10 and Note 16 for additional discussion surrounding the Preferred Distribution Rate Reset Election derivative.
Schedule of Effect on Operating Results | Effect on Operating Results
|  |  | Amount of Gain (Loss) Recognized in Income
| Unaudited Condensed Consolidated Statements of Operations Location |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
Commodity derivatives - futures and call options: |  |  |  |  |  |  |  |  |
Contracts designated as hedges under accounting guidance | Onshore facilities and transportation product costs |  | $ | 227 |  |  | $ | 759 |  |  | $ | (492 | ) |  | $ | (2,028 | )
Contracts not considered hedges under accounting guidance | Onshore facilities and transportation product costs, sodium minerals and sulfur services operating costs |  | 1,373 |  |  | (1,157 | ) |  | (6,718 | ) |  | (6,833 | )
Total commodity derivatives |  |  | $ | 1,600 |  |  | $ | (398 | ) |  | $ | (7,210 | ) |  | $ | (8,861 | )
Natural Gas Swap Liability | Sodium minerals and sulfur services operating costs |  | $ | 81 |  |  | $ | 229 |  |  | $ | 1,316 |  |  | $ | 44 |
Preferred Distribution Rate Reset Election | Other income (expense) |  | $ | 7,974 |  |  | $ | 1,826 |  |  | $ | 306 |  |  | $ | (268 | )

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -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=26873400&loc=d3e23780-122690 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959 + Details
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