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Inventories | 9 Months Ended
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Sep. 30, 2020
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories at September 30, 2020 consisted of the following (in thousands):
| Titled Inventory |  | Supply and Offtake Agreements (1) |  | Total
Crude oil and feedstocks | $ | 132,659 |  |  | $ | 131,957 |  |  | $ | 264,616 |
Refined products and blendstock | 85,624 |  |  | 76,286 |  |  | 161,910 |
Warehouse stock and other (2) | 67,043 |  |  | — |  |  | 67,043 |
Total | $ | 285,326 |  |  | $ | 208,243 |  |  | $ | 493,569 |
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 $20.8 million and $19.1 million of RINs and environmental credits, reported at cost, as of September 30, 2020 and December 31, 2019, respectively. RINs and environmental obligations of $87.1 million and $22.8 million, reported at market value, are included in Other accrued liabilities on our condensed consolidated balance sheets as of September 30, 2020 and December 31, 2019, respectively.
As of September 30, 2020, there was a $22.3 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 September 30, 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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