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Inventories | 3 Months Ended
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Mar. 31, 2025
Inventory Disclosure [Abstract] |
Inventories | Inventories Inventories at March 31, 2025, and December 31, 2024, consisted of the following (in thousands):
| Titled Inventory |  | Inventory Intermediation Agreement (1) |  |  |  | Total
March 31, 2025 |  |  |  |  |  |  |
Crude oil and feedstocks | $ | 114,688 |  |  | $ | 201,617 |  |  |  |  | $ | 316,305 |
Refined products and blendstock | 512,717 |  |  | — |  |  |  |  | 512,717 |
Warehouse stock and other (2) | 230,570 |  |  | — |  |  |  |  | 230,570 |
Total | $ | 857,975 |  |  | $ | 201,617 |  |  |  |  | $ | 1,059,592 |
December 31, 2024 |  |  |  |  |  |  |
Crude oil and feedstocks | $ | 124,910 |  |  | $ | 178,070 |  |  |  |  | $ | 302,980 |
Refined products and blendstock | 504,456 |  |  | — |  |  |  |  | 504,456 |
Warehouse stock and other (2) | 281,882 |  |  | — |  |  |  |  | 281,882 |
Total | $ | 911,248 |  |  | $ | 178,070 |  |  |  |  | $ | 1,089,318 |
________________________________________________________ (1)Please read Note 8—Inventory Financing Agreements for further information. (2)Includes $138.0 million and $195.0 million of RINs and environmental credits, reported at the lower of cost or net realizable value, as of March 31, 2025, and December 31, 2024, respectively. Our renewable volume obligation and other gross environmental credit obligations of $217.8 million and $232.0 million are included in Other accrued liabilities on our condensed consolidated balance sheets as of March 31, 2025, and December 31, 2024, respectively. As of March 31, 2025, there was no reserve for the lower of cost or net realizable value of inventory. As of December 31, 2024, there was $2.3 million reserved for the lower of cost or net realizable value of inventory. As of March 31, 2025, and December 31, 2024, the current replacement cost exceeded the LIFO inventory carrying value by approximately $31.8 million and $31.9 million, respectively.

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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 -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/330/tableOfContent + Details
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