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Derivatives (Tables) | 12 Months Ended
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Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Notional Amounts of Outstanding Derivative Positions | At December 31, 2019, our open commodity derivative contracts represented (in thousands of barrels):
Contract type |  | Purchases |  | Sales |  | Net
Futures |  | 3,360 |  |  | (3,100 | ) |  | 260 |
Total |  | 3,360 |  |  | (3,100 | ) |  | 260 |
Fair Value, Assets Measured on Recurring Basis | The following table provides information on the fair value amounts (in thousands) of these derivatives as of December 31, 2019 and 2018 and their placement within our consolidated balance sheets.
|  |  | December 31,
| Balance Sheet Location |  | 2019 |  | 2018
|  |  | Asset (Liability)
Commodity derivatives (1) | Prepaid and other current assets |  | $ | 2,075 |  |  | $ | 4,973 |
Commodity derivatives | Other accrued liabilities |  | (5,534 | ) |  | (700 | )
J. Aron repurchase obligation derivative | Obligations under inventory financing agreements |  | 173 |  |  | 4,085 |
MLC terminal obligation derivative | Obligations under inventory financing agreements |  | (14,717 | ) |  | — |
Interest rate derivatives | Prepaid and other current assets |  | — |  |  | 191 |
Interest rate derivatives | Other accrued liabilities |  | (314 | ) |  | — |
Interest rate derivatives | Other liabilities |  | (1,113 | ) |  | — |
_________________________________________________________ (1) Does not include cash collateral of $10.3 million and $2.7 million recorded in Prepaid and other current assets and $9.5 million and $8.3 million in Other long-term assets as of December 31, 2019 and 2018, respectively. Fair value amounts by hierarchy level as of December 31, 2019 and 2018 are presented gross in the tables below (in thousands):
| December 31, 2019
| Level 1 |  | Level 2 |  | Level 3 |  | Gross Fair Value |  | Effect of Counter-party Netting |  | Net Carrying Value on Balance Sheet (1)
Assets |  |  |  |  |  |  |  |  |  |  |
Commodity derivatives | $ | 4,595 |  |  | $ | 2,075 |  |  | $ | — |  |  | $ | 6,670 |  |  | $ | (4,595 | ) |  | $ | 2,075 |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Common stock warrants | $ | — |  |  | $ | — |  |  | $ | (8,206 | ) |  | $ | (8,206 | ) |  | $ | — |  |  | $ | (8,206 | )
Commodity derivatives | (10,129 | ) |  | — |  |  | — |  |  | (10,129 | ) |  | 4,595 |  |  | (5,534 | )
J. Aron repurchase obligation derivative | — |  |  | — |  |  | 173 |  |  | 173 |  |  | — |  |  | 173 |
MLC terminal obligation derivative | — |  |  | — |  |  | (14,717 | ) |  | (14,717 | ) |  | — |  |  | (14,717 | )
Interest rate derivatives | — |  |  | (1,427 | ) |  | — |  |  | (1,427 | ) |  | — |  |  | (1,427 | )
Total | $ | (10,129 | ) |  | $ | (1,427 | ) |  | $ | (22,750 | ) |  | $ | (34,306 | ) |  | $ | 4,595 |  |  | $ | (29,711 | )
| December 31, 2018
| Level 1 |  | Level 2 |  | Level 3 |  | Gross Fair Value |  | Effect of Counter-party Netting |  | Net Carrying Value on Balance Sheet (1)
Assets |  |  |  |  |  |  |  |  |  |  |
Commodity derivatives | $ | 170 |  |  | $ | 5,234 |  |  | $ | — |  |  | $ | 5,404 |  |  | $ | (431 | ) |  | $ | 4,973 |
Interest rate derivatives | — |  |  | 191 |  |  | — |  |  | 191 |  |  | — |  |  | 191 |
Total | $ | 170 |  |  | $ | 5,425 |  |  | $ | — |  |  | $ | 5,595 |  |  | $ | (431 | ) |  | $ | 5,164 |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Common stock warrants | $ | — |  |  | $ | — |  |  | $ | (5,007 | ) |  | $ | (5,007 | ) |  | $ | — |  |  | $ | (5,007 | )
Commodity derivatives | (870 | ) |  | (261 | ) |  | — |  |  | (1,131 | ) |  | 431 |  |  | (700 | )
J.Aron repurchase obligation derivative | — |  |  | — |  |  | 4,085 |  |  | 4,085 |  |  | — |  |  | 4,085 |
Total | $ | (870 | ) |  | $ | (261 | ) |  | $ | (922 | ) |  | $ | (2,053 | ) |  | $ | 431 |  |  | $ | (1,622 | )
_________________________________________________________ (1) Does not include cash collateral of $19.8 million and $10.9 million as of December 31, 2019 and 2018, respectively, included within Prepaid and other current assets and Other long-term assets on our 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 consolidated statements of operations resulting from changes in fair value of derivative instruments not designated as hedges charged directly to earnings (in thousands):
|  |  | Year Ended December 31,
| Statement of Operations Classification |  | 2019 |  | 2018 |  | 2017
Commodity derivatives | Cost of revenues (excluding depreciation) |  | $ | (1,547 | ) |  | $ | (3,420 | ) |  | $ | (4,517 | )
J. Aron repurchase obligation derivative | Cost of revenues (excluding depreciation) |  | (3,912 | ) |  | 23,649 |  |  | 436 |
MLC terminal obligation derivative | Cost of revenues (excluding depreciation) |  | (19,326 | ) |  | — |  |  | — |
Interest rate derivatives | Interest expense and financing costs, net |  | (1,506 | ) |  | 1,309 |  |  | 489 |

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