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Derivatives (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Derivatives Entered Into to Hedge Inventory or Fixed Price Purchase Commitments

At September 30, 2022, we had the following outstanding commodity derivative commodity contracts that were entered into to economically hedge inventory, fixed price purchase commitments or forecasted purchases.

						Sell (Short) Contracts						Buy (Long) Contracts
Designated as hedges under accounting rules:
Crude oil futures:
Contract volumes (1,000 Bbls)						104						—
Weighted average contract price per Bbl						$	88.81					$	—
Not qualifying or not designated as hedges under accounting rules:
Crude oil futures:
Contract volumes (1,000 Bbls)						102						96
Weighted average contract price per Bbl						$	85.02					$	84.56
Natural gas swaps:
Contract volumes (10,000 MMBtu)						—						367
Weighted average price differential per MMBtu						$	—					$	(0.30)
Natural gas futures:
Contract volumes (10,000 MMBtu)						66						433
Weighted average contract price per MMBtu						$	7.50					$	5.26
Petroleum products (#6 fuel oil) futures:
Contract volumes (1,000 Bbls)						120						70
Weighted average contract price per Bbl						$	61.81					$	60.99
Natural gas options:
Contract volumes (10,000 MMBtu)						109						20
Weighted average premium received/paid						$	0.59					$	0.07

Schedule of Fair Value of Derivative Assets and Liabilities

The following tables reflect the estimated fair value position of our derivatives at September 30, 2022 and December 31, 2021:

Fair Value of Derivative Assets and Liabilities

			Unaudited Condensed Consolidated Balance Sheets Location						Fair Value
									September 30, 2022						December 31, 2021
Asset Derivatives:
Natural Gas Swap (undesignated hedge)			Current Assets - Other						221						1,867
Commodity derivatives - futures and put and call options (undesignated hedges):
Gross amount of recognized assets			Current Assets - Other						$	3,688					$	310
Gross amount offset in the Unaudited Condensed Consolidated Balance Sheets			Current Assets - Other						(1,622)						(310)
Net amount of assets presented in the Unaudited Condensed Consolidated Balance Sheets									$	2,066					$	—
Commodity derivatives - futures (designated hedges):
Gross amount of recognized assets			Current Assets - Other						$	1,599					$	49
Gross amount offset in the Unaudited Condensed Consolidated Balance Sheets			Current Assets - Other						(557)						(49)
Net amount of assets presented in the Unaudited Condensed Consolidated Balance Sheets									$	1,042					$	—
Liability Derivatives:
Preferred Distribution Rate Reset Election(2)			Other long-term liabilities						—						(83,210)
Natural Gas Swap (undesignated hedge)			Current Liabilities -Accrued Liabilities						(808)						(608)
Commodity derivatives - futures and put and call options (undesignated hedges):
Gross amount of recognized liabilities			Current Assets - Other(1)						$	(1,622)					$	(2,380)
Gross amount offset in the Unaudited Condensed Consolidated Balance Sheets			Current Assets - Other(1)						1,622						2,380
Net amount of liabilities presented in the Unaudited Condensed Consolidated Balance Sheets									$	—					$	—
Commodity derivatives - futures (designated hedges):
Gross amount of recognized liabilities			Current Assets - Other(1)						$	(557)					$	(209)
Gross amount offset in the Unaudited Condensed Consolidated Balance Sheets			Current Assets - Other(1)						557						209
Net amount of liabilities presented in the Unaudited Condensed Consolidated Balance Sheets									$	—					$	—

(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, Note 16 and below 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,
									2022						2021						2022						2021
Commodity derivatives - futures and call options:
Contracts designated as hedges under accounting guidance			Onshore facilities and transportation product costs						$	2,085					$	(285)					$	1,549					$	(7,745)
Contracts not considered hedges under accounting guidance			Onshore facilities and transportation product costs, Sodium minerals and sulfur services operating costs						7,138						(171)						15,418						(5,871)
Total commodity derivatives									$	9,223					$	(456)					$	16,967					$	(13,616)
Natural Gas Swap			Sodium minerals and sulfur services operating costs						$	(489)					$	(55)					$	(2,181)					$	(92)
Preferred Distribution Rate Reset Election			Other income (expense)						$	(24,977)					$	1,740					$	(18,584)					$	(31,042)

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