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Inventory Financing Agreements (Tables) | 9 Months Ended
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Sep. 30, 2023
Other Commitments [Abstract] |
Schedule Obligations Under Inventory Financing Agreements | The following table summarizes our outstanding obligations under our inventory financing agreements (in thousands):
| September 30, 2023 |  | December 31, 2022
Supply and Offtake Agreement | $ | 680,148 |  |  | $ | 732,511 |
Washington Refinery Intermediation Agreement | 161,690 |  |  | 160,554 |
LC Facility due 2024 | — |  |  | — |
Obligations under inventory financing agreements | $ | 841,838 |  |  | $ | 893,065 |
Schedule of Outstanding Borrowings, Letters of Credit, and Contractual Undertaking Obligations Under the Intermediation Agreements | The following table summarizes our outstanding borrowings, letters of credit, and contractual undertaking obligations under the intermediation agreements (in thousands):
| September 30, 2023 |  | December 31, 2022
Discretionary Draw Facility |  |  |
Outstanding borrowings (1) | $ | 174,999 |  |  | $ | 204,843 |
Borrowing capacity | 174,999 |  |  | 204,843 |
MLC receivable advances |  |  |
Outstanding borrowings (1) | 34,090 |  |  | 56,601 |
Borrowing capacity | 72,090 |  |  | 56,601 |
LC Facility due 2024 |  |  |
Outstanding borrowings | — |  |  | — |
Borrowing capacity | 13,905 |  |  | — |
MLC issued letters of credit | 68,900 |  |  | 115,001 |
LC Facility issued letters of credit | 96,450 |  |  | — |
______________________________________________________ (1)Borrowings outstanding under the Discretionary Draw Facility and MLC receivable advances are included in Obligations under inventory financing agreements on our condensed consolidated balance sheets. Changes in the borrowings outstanding under these arrangements are included within Cash flows from financing activities on the condensed consolidated statements of cash flows.
Schedule of Inventory Intermediation Fees | The following table summarizes the inventory intermediation fees, which are included in Cost of revenues (excluding depreciation) on our condensed consolidated statements of operations, and Interest expense and financing costs, net related to the intermediation agreements (in thousands):
|  |  |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  |  |  | 2023 |  | 2022 |  | 2023 |  | 2022
Net fees and expenses: |  |  |  |  |  |  |  |  |  |
Supply and Offtake Agreement |  |  |  |  |  |  |  |  |  |
Inventory intermediation fees (1) |  |  |  | $ | 15,643 |  |  | $ | 40,112 |  |  | $ | 42,270 |  |  | $ | 79,557 |
Interest expense and financing costs, net |  |  |  | 2,214 |  |  | 1,453 |  |  | 5,834 |  |  | 4,555 |
Washington Refinery Intermediation Agreement |  |  |  |  |  |  |  |  |  |
Inventory intermediation fees |  |  |  | $ | 750 |  |  | $ | 750 |  |  | $ | 2,250 |  |  | $ | 2,250 |
Interest expense and financing costs, net |  |  |  | 3,278 |  |  | 2,636 |  |  | 9,250 |  |  | 7,533 |
LC Facility due 2024 |  |  |  |  |  |  |  |  |  |
Interest expense and financing costs, net |  |  |  | $ | 54 |  |  | — |  |  | $ | 54 |  |  | — |
___________________________________________________ (1)Inventory intermediation fees under the Supply and Offtake Agreement include market structure fees of $5.1 million and $30.2 million for the three months ended September 30, 2023 and 2022 and $9.3 million and $54.1 million for the nine months ended September 30, 2023 and 2022, respectively.

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