XML 98 R50.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Derivatives (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Outstanding Derivatives Entered Into Hedge Inventory or Fixed Price Purchase Commitments | At December 31, 2019, we had the following outstanding derivative commodity contracts that were entered into 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) | 19 |  |  | — |
Weighted average contract price per bbl | $ | 58.57 |  |  | — |
Not qualifying or not designated as hedges under accounting rules: |  |  |
Crude oil futures: |  |  |
Contract volumes (1,000 bbls) | 79 |  |  | 80 |
Weighted average contract price per bbl | $ | 60.25 |  |  | $ | 60.25 |
Natural gas swaps: |  |  |
Contract volumes (10,000 MMBTU) | 503 |  |  | — |
Weighted average price differential per MMBTU | $ | 0.38 |  |  | — |
Natural gas futures: |  |  |
Contract volumes (10,000 MMBTU) | 92 |  |  | 576 |
Weighted average contract price per MMBTU | $ | 2.27 |  |  | $ | 2.60 |
Crude oil options: |  |  |
Contract volumes (1,000 bbls) | 40 |  |  | 18 |
Weighted average premium received/paid | $ | 1.03 |  |  | $ | 0.66 |
Schedule of Accounting Treatment And Classification of Derivative Instruments | The following table summarizes the accounting treatment and classification of our derivative instruments on our Consolidated Financial Statements.
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 Onshore facilities and transportation costs - product costs Effective portion is offset in cost of sales against change in value of inventory being hedged
Not qualifying or not designated as hedges under accounting guidance:
Commodity hedges consisting of crude oil, heating oil and natural gas futures, forward contracts, swaps and call options |  | Volatility in crude oil, natural gas 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 Onshore facilities and transportation costs - product costs and Sodium minerals and sulfur services - operating costs
Preferred Distribution Rate Reset Election |  | This instrument is not related to a risk, but is rather part of a host contract with the issuance of our Preferred Units |  | Derivative is recorded in Other long-term liabilities |  | Entire amount of change in fair value of derivative is recorded in Other income (expense)
Schedule of Fair Value of Derivative Assets And Liabilities | The following tables reflect the estimated fair value gain (loss) position of our derivatives at December 31, 2019 and 2018: Fair Value of Derivative Assets and Liabilities
|  |  | Fair Value
| Consolidated Balance Sheets Location |  | December 31, 2019 |  |  |  | December 31, 2018
Asset Derivatives: |  |  |  |  |  |  |
Commodity derivatives—futures and call options (undesignated hedges): |  |  |  |  |  |  |
Gross amount of recognized assets | Current Assets - Other |  | $ | 207 |  |  |  |  | $ | 3,431 |
Gross amount offset in the Consolidated Balance Sheets | Current Assets - Other |  | (207 | ) |  |  |  | (1,361 | )
Net amount of assets presented in the Consolidated Balance Sheets |  |  | $ | — |  |  |  |  | $ | 2,070 |
Natural Gas Swap (undesignated hedge) | Current Assets - Other |  | 1,382 |  |  |  |  | 1,274 |
Commodity derivatives—futures and call options (designated hedges): |  |  |  |  |  |  |
Gross amount of recognized assets | Current Assets - Other |  | $ | 4 |  |  |  |  | $ | 469 |
Gross amount offset in the Consolidated Balance Sheets | Current Assets - Other |  | (4 | ) |  |  |  | (44 | )
Net amount of assets presented in the Consolidated Balance Sheets |  |  | $ | — |  |  |  |  | $ | 425 |
Liability Derivatives: |  |  |  |  |  |  |
Preferred Distribution Rate Reset Election (2) | Other Long-Term Liabilities (2) |  | $ | (51,515 | ) |  |  |  | $ | (40,840 | )
Natural Gas Swap (undesignated hedge) | Current Liabilities - Accrued Liabilities |  | — |  |  |  |  | (125 | )
Commodity derivatives—futures and call options (undesignated hedges): |  |  |  |  |  |  |
Gross amount of recognized liabilities | Current Assets - Other (1) |  | $ | (2,079 | ) |  |  |  | $ | (1,361 | )
Gross amount offset in the Consolidated Balance Sheets | Current Assets - Other (1) |  | 1,064 |  |  |  |  | 1,361 |
Net amount of liabilities presented in the Consolidated Balance Sheets |  |  | $ | (1,015 | ) |  |  |  | $ | — |
Commodity derivatives—futures and call options (designated hedges): |  |  |  |  |  |  |
Gross amount of recognized liabilities | Current Assets - Other (1) |  | $ | (50 | ) |  |  |  | $ | (44 | )
Gross amount offset in the Consolidated Balance Sheets | Current Assets - Other (1) |  | 50 |  |  |  |  | 44 |
Net amount of liabilities presented in the Consolidated Balance Sheets |  |  | $ | — |  |  |  |  | $ | — |
(1) | These derivative liabilities have been funded with margin deposits recorded in our Consolidated Balance Sheets under Current Assets - Other.
(2) Refer to Note 12 and Note 20 for additional discussion surrounding the Preferred Distribution Rate Reset Election derivative.
Schedule of Effect on Consolidated Statements of Operations And Other Comprehensive Income (Loss) | Effect on Operating Results
|  |  | Amount of Gain (Loss) Recognized in Income
|  |  | Year Ended December 31
| Consolidated Statements of Operations Location |  | 2019 |  | 2018 |  | 2017
Commodity derivatives—futures and options: |  |  |  |  |  |  |
Contracts designated as hedges under accounting guidance | Onshore facilities and transportation product costs |  | $ | (786 | ) |  | $ | (544 | ) |  | $ | 5,116 |
Contracts not considered hedges under accounting guidance | Onshore facilities and transportation product costs, sodium minerals and sulfur services operating costs |  | (7,790 | ) |  | 3,914 |  |  | (1,314 | )
Total commodity derivatives |  |  | $ | (8,576 | ) |  | $ | 3,370 |  |  | $ | 3,802 |
Natural Gas Swaps | Sodium minerals and sulfur services operating costs |  | 1,941 |  |  | $ | 1,906 |  |  | $ | — |
Preferred Distribution Rate Reset Election (Note 20) | Other Income (Expense) |  | $ | (9,026 | ) |  | $ | 8,360 |  |  | $ | (10,472 | )

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
- References No definition available. + 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 derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 Reference 3: 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 + 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://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 + 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://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
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration