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Inventories | 3 Months Ended
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Mar. 31, 2020
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories at March 31, 2020 consisted of the following (in thousands):
| Titled Inventory |  | Supply and Offtake Agreements (1) |  | Total
Crude oil and feedstocks | $ | 34,527 |  |  | $ | 73,706 |  |  | $ | 108,233 |
Refined products and blendstock | 76,506 |  |  | 72,426 |  |  | 148,932 |
Warehouse stock and other (2) | 62,375 |  |  | — |  |  | 62,375 |
Total | $ | 173,408 |  |  | $ | 146,132 |  |  | $ | 319,540 |
Inventories at December 31, 2019 consisted of the following (in thousands):
| Titled Inventory |  | Supply and Offtake Agreements (1) |  | Total
Crude oil and feedstocks | $ | 117,717 |  |  | $ | 148,303 |  |  | $ | 266,020 |
Refined products and blendstock | 127,966 |  |  | 158,737 |  |  | 286,703 |
Warehouse stock and other (2) | 63,149 |  |  | — |  |  | 63,149 |
Total | $ | 308,832 |  |  | $ | 307,040 |  |  | $ | 615,872 |
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(1) | Please read Note 9—Inventory Financing Agreements for further information.
(2) | Includes $17.8 million and $19.1 million of RINs and environmental credits as of March 31, 2020 and December 31, 2019, respectively. RINs and environmental obligations of $38.3 million and $22.8 million are included in Other Liabilities on our condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019, respectively.
As of March 31, 2020, there was a $176.4 million reserve for the lower of cost or net realizable value of inventory. As of December 31, 2019, there was no reserve for the lower of cost or net realizable value of inventory. Our last-in, first-out (“LIFO”) inventories, net of the lower of cost or net realizable reserve, were equal to current cost as of March 31, 2020. As of December 31, 2019, the excess of current replacement cost over the LIFO inventory carrying value at the Washington refinery was approximately $6.4 million.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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