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Inventory Financing Agreements (Tables) | 9 Months Ended
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Sep. 30, 2024
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, 2024 |  | December 31, 2023
Inventory Intermediation Agreement | $ | 165,168 |  |  | $ | — |
Supply and Offtake Agreement | — |  |  | 594,362 |
LC Facility due 2024 | — |  |  | — |
Obligations under inventory financing agreements | $ | 165,168 |  |  | $ | 594,362 |
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, 2024 |  | December 31, 2023
Discretionary Draw Facility |  |  |
Outstanding borrowings (1) | $ | — |  |  | $ | 165,459 |
Borrowing capacity | — |  |  | 175,891 |
LC Facility due 2024 |  |  |
Outstanding borrowings | — |  |  | — |
Borrowing capacity | — |  |  | 120,000 |
LC Facility issued letters of credit | — |  |  | 13,000 |
______________________________________________________ (1)Borrowings outstanding under the Discretionary Draw Facility were included in Obligations under inventory financing agreements on our condensed consolidated balance sheets. Changes in the borrowings outstanding under these arrangements were 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,
|  |  |  | 2024 |  | 2023 |  | 2024 |  | 2023
Net fees and expenses: |  |  |  |  |  |  |  |  |  |
Inventory Intermediation Agreement |  |  |  |  |  |  |  |  |  |
Inventory intermediation fees (1) |  |  |  | $ | 5,582 |  |  | $ | — |  |  | $ | 11,618 |  |  | $ | — |
Interest expense and financing costs, net |  |  |  | 328 |  |  | — |  |  | 433 |  |  | — |
Supply and Offtake Agreement |  |  |  |  |  |  |  |  |  |
Inventory intermediation fees (1) |  |  |  | — |  |  | 15,643 |  |  | 30,918 |  |  | 42,270 |
Interest expense and financing costs, net |  |  |  | — |  |  | 2,214 |  |  | 2,872 |  |  | 5,834 |
Washington Refinery Intermediation Agreement |  |  |  |  |  |  |  |  |  |
Inventory intermediation fees |  |  |  | — |  |  | 750 |  |  | — |  |  | 2,250 |
Interest expense and financing costs, net |  |  |  | — |  |  | 3,278 |  |  | — |  |  | 9,250 |
LC Facility due 2024 |  |  |  |  |  |  |  |  |  |
Interest expense and financing costs, net |  |  |  | — |  |  | 54 |  |  | 1,142 |  |  | 54 |
___________________________________________________ (1)Inventory intermediation fees under the Inventory Intermediation Agreement include market structure fees of $4.5 million and $9.1 million for the three and nine months ended September 30, 2024, respectively. Inventory intermediation fees under the Supply and Offtake Agreement include market structure fees of $13.5 million for the nine months ended September 30, 2024 and $5.1 million and $9.3 million for the three and nine months ended September 30, 2023, respectively. There were no inventory intermediation fees under the Supply and Offtake Agreement for the three months ended September 30, 2024.

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