XML 41 R30.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Derivatives (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Value, Assets Measured on Recurring Basis | The following table provides information on the fair value amounts (in thousands) of these derivatives as of March 31, 2017 and December 31, 2016 and their placement within our condensed consolidated balance sheets.
| Balance Sheet Location |  | March 31, 2017 |  | December 31, 2016
|  |  | Asset (Liability)
Commodity derivatives (1) | Prepaid and other current assets |  | $ | 2,941 |  |  | $ | — |
Commodity derivatives (1) | Other long-term assets |  | 1,290 |  |  | 2,748 |
Commodity derivatives | Other accrued liabilities |  | (791 | ) |  | (595 | )
J. Aron repurchase obligation derivative | Obligations under inventory financing agreements |  | (9,392 | ) |  | (20,000 | )
Interest rate derivatives | Prepaid and other current assets |  | 496 |  |  | 161 |
Interest rate derivatives | Other long-term assets |  | 3,149 |  |  | 3,377 |
Interest rate derivatives | Other accrued liabilities |  | — |  |  | (94 | )
_________________________________________________________
(1) | Does not include cash collateral of $3.2 million and $2.7 million recorded in Prepaid and other current assets and $7.0 million and $7.0 million in Other long-term assets as of March 31, 2017 and December 31, 2016, respectively.
Fair value amounts by hierarchy level as of March 31, 2017 and December 31, 2016 are presented gross in the tables below (in thousands):
| March 31, 2017
| Level 1 |  | Level 2 |  | Level 3 |  | Gross Fair Value |  | Effect of Counter-Party Netting |  | Net Carrying Value on Balance Sheet (1)
Assets |  |  |  |  |  |  |  |  |  |  |
Commodity derivatives | $ | 433 |  |  | $ | 7,431 |  |  | $ | — |  |  | $ | 7,864 |  |  | $ | (3,633 | ) |  | $ | 4,231 |
Interest rate derivatives | — |  |  | 3,672 |  |  | — |  |  | 3,672 |  |  | (27 | ) |  | 3,645 |
Total | $ | 433 |  |  | $ | 11,103 |  |  | $ | — |  |  | $ | 11,536 |  |  | $ | (3,660 | ) |  | $ | 7,876 |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Common stock warrants | $ | — |  |  | $ | — |  |  | $ | (5,823 | ) |  | $ | (5,823 | ) |  | $ | — |  |  | $ | (5,823 | )
Commodity derivatives | (116 | ) |  | (4,308 | ) |  | — |  |  | (4,424 | ) |  | 3,633 |  |  | (791 | )
J. Aron repurchase obligation derivative | — |  |  | — |  |  | (9,392 | ) |  | (9,392 | ) |  | — |  |  | (9,392 | )
Interest rate derivatives | — |  |  | (27 | ) |  | — |  |  | (27 | ) |  | 27 |  |  | — |
Total | $ | (116 | ) |  | $ | (4,335 | ) |  | $ | (15,215 | ) |  | $ | (19,666 | ) |  | $ | 3,660 |  |  | $ | (16,006 | )
| December 31, 2016
| Level 1 |  | Level 2 |  | Level 3 |  | Gross Fair Value |  | Effect of Counter-Party Netting |  | Net Carrying Value on Balance Sheet (1)
Assets |  |  |  |  |  |  |  |  |  |  |
Commodity derivatives | $ | 190 |  |  | $ | 26,095 |  |  | $ | — |  |  | $ | 26,285 |  |  | $ | (23,537 | ) |  | $ | 2,748 |
Interest rate derivatives | — |  |  | 3,602 |  |  | — |  |  | 3,602 |  |  | (64 | ) |  | 3,538 |
Total | $ | 190 |  |  | $ | 29,697 |  |  | $ | — |  |  | $ | 29,887 |  |  | $ | (23,601 | ) |  | $ | 6,286 |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Common stock warrants | $ | — |  |  | $ | — |  |  | $ | (5,134 | ) |  | $ | (5,134 | ) |  | $ | — |  |  | $ | (5,134 | )
Commodity derivatives | (54 | ) |  | (24,078 | ) |  | — |  |  | (24,132 | ) |  | 23,537 |  |  | (595 | )
J. Aron repurchase obligation derivative | — |  |  | — |  |  | (20,000 | ) |  | (20,000 | ) |  | — |  |  | (20,000 | )
Interest rate derivatives | — |  |  | (158 | ) |  | — |  |  | (158 | ) |  | 64 |  |  | (94 | )
Total | $ | (54 | ) |  | $ | (24,236 | ) |  | $ | (25,134 | ) |  | $ | (49,424 | ) |  | $ | 23,601 |  |  | $ | (25,823 | )
_________________________________________________________
(1) | Does not include cash collateral of $10.2 million and $9.7 million as of March 31, 2017 and December 31, 2016, respectively, included within Prepaid and other current assets and Other long-term assets on our condensed consolidated balance sheets.
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location | The following table summarizes the pre-tax gains (losses) recognized in Net income (loss) on our condensed consolidated statements of operations resulting from changes in fair value of derivative instruments not designated as hedges charged directly to earnings (in thousands):
|  |  | Three Months Ended March 31,
| Statement of Operations Location |  | 2017 |  | 2016
Commodity derivatives | Cost of revenues (excluding depreciation) |  | $ | (6,367 | ) |  | $ | (6,855 | )
J. Aron repurchase obligation derivative | Cost of revenues (excluding depreciation) |  | 10,607 |  |  | (22,976 | )
Interest rate derivatives | Interest expense and financing costs, net |  | 110 |  |  | (756 | )

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 assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the 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 4A -URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration