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Inventories (Tables)

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories at June 30, 2023 and December 31, 2022 consisted of the following (in thousands):

			Titled Inventory						Supply and Offtake Agreement (1)						Total
June 30, 2023
Crude oil and feedstocks			$	152,175					$	216,782					$	368,957
Refined products and blendstock			337,097						158,509						495,606
Warehouse stock and other (2)			376,931						—						376,931
Total			$	866,203					$	375,291					$	1,241,494
December 31, 2022
Crude oil and feedstocks			$	112,082					$	265,536					$	377,618
Refined products and blendstock			188,040						168,624						356,664
Warehouse stock and other (2)			307,701						—						307,701
Total			$	607,823					$	434,160					$	1,041,983

________________________________________________________

(1)Please read Note 9—Inventory Financing Agreements for further information.

(2)Includes $293.3 million and $258.2 million of RINs and environmental credits, reported at the lower of cost or net realizable value, as of June 30, 2023 and December 31, 2022, respectively. RINs and environmental credit obligations of $433.0 million and $549.8 million, reported at market value, are included in Other accrued liabilities on our condensed consolidated balance sheets as of June 30, 2023 and December 31, 2022, respectively. If we marked our RINs and environmental credits to fair market value, our net environmental credit obligations would have been $100.9 million and $152.6 million as of June 30, 2023 and December 31, 2022, respectively.

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Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.

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-Topic 210
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-Name Accounting Standards Codification
-Section S99
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