XML 36 R22.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value Measurements

Schedule of assets and liabilities measured at estimated fair value on a recurring basis



														Netting
														and
		Level 1			Level 2			Level 3			Sub-Total			Collateral			Total
As of September 30, 2015
Assets:
Commodity contracts		$	194.0		$	249.1		$	1.3		$	444.4		$	(255.1)		$	189.3
Foreign currency contracts			—			10.7			—			10.7			(6.0)			4.7
Inventories			—			1.8			—			1.8			—			1.8
Cash surrender value of life insurance			—			2.3			—			2.3			—			2.3
Total		$	194.0		$	263.9		$	1.3		$	459.2		$	(261.1)		$	198.1
Liabilities:
Commodity contracts		$	311.2		$	127.0		$	0.1		$	438.3		$	(389.9)		$	48.4
Foreign currency contracts						6.8			—			6.8			(6.0)			0.8
Total		$	311.2		$	133.8		$	0.1		$	445.1		$	(395.9)		$	49.2

As of December 31, 2014
Assets:
Commodity contracts		$	173.7		$	495.6		$	4.2		$	673.5		$	(368.0)		$	305.5
Foreign currency contracts			—			21.8			—			21.8			(12.0)			9.8
Cash surrender value of life insurance			—			2.2			—			2.2			—			2.2
Total		$	173.7		$	519.6		$	4.2		$	697.5		$	(380.0)		$	317.5
Liabilities:
Commodity contracts		$	306.4		$	329.9		$	1.3		$	637.6		$	(595.6)		$	42.0
Foreign currency contracts			—			12.0			—			12.0			(12.0)			—
Inventories			—			22.9			—			22.9			—			22.9
Total		$	306.4		$	364.8		$	1.3		$	672.5		$	(607.6)		$	64.9

Schedule of derivative instruments at fair value and their locations on the balance sheets


		As of
		September 30, 2015			December 31, 2014
Commodity Contracts
Assets:
Short-term derivative assets, net		$	175.3		$	294.3
Identifiable intangible and other non-current assets			14.0			11.2
Total net assets		$	189.3		$	305.5

Liabilities:
Accrued expenses and other current liabilities		$	43.1		$	41.3
Other long-term liabilities			5.3			0.7
Total net liabilities		$	48.4		$	42.0

Foreign Currency Contracts
Assets:
Short-term derivative assets, net		$	4.2		$	9.3
Identifiable intangible and other non-current assets			0.5			0.5
Total net assets		$	4.7		$	9.8

Liabilities:
Accrued expenses and other current liabilities		$	0.8		$	—
Total net liabilities		$	0.8		$	—

Schedule of assets and liabilities that are measured at fair value on a recurring basis that utilized Level 3 inputs


		Beginning of Period			Realized and Unrealized Gains (Losses) Included in Earnings			Settlements				Transfers into Level 3	End of Period				Change in Unrealized Gains (Losses) Relating to Assets and Liabilities that are Held at end of Period					Location of Realized and Unrealized Gains (Losses)Included in Earnings
Three months ended September 30, 2015
Assets:
Commodity contracts		$	0.5		$	(0.1)		$	0.1		$	1.0	$	1.3			$	1.0				Revenue
Liabilities:
Commodity contracts		$	0.4		$	0.4		$	—		$	(0.1)	$	0.1			$	0.5				Cost of revenue
Three months ended September 30, 2014
Assets:
Commodity contracts		$	5.8		$	4.1		$	6.6		$	—	$	3.3			$	2.0				Revenue
Liabilities:
Commodity contracts		$	—		$	(0.1)		$	—		$	—	$	0.1			$	(0.1)				Revenue
Nine months ended September 30, 2015
Assets:
Commodity contracts		$	4.2		$	0.7		$	4.6		$	1.0	$	1.3			$	1.4				Revenue
Liabilities:
Commodity contracts		$	1.3		$	0.8		$	0.5		$	(0.1)	$	0.1			$	0.9				Cost of revenue
Nine months ended September 30, 2014
Assets:
Commodity contracts		$	—		$	9.9		$	6.6		$	—	$	3.3			$	3.3				Revenue
Liabilities:
Commodity contracts		$	—		$	(0.1)		$	—		$	—	$	0.1			$	(0.1)				Revenue