XML 38 R27.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Fair Value Measurements (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2018
Fair Value Disclosures [Abstract] |
Schedule of assets and liabilities measured at estimated fair value on a recurring basis | The following table presents information about our gross assets and liabilities that are measured at fair value on a recurring basis (in millions):
| Fair Value measurements as of September 30, 2018
|  | Level 1 Inputs |  |  | Level 2 Inputs |  |  | Level 3 Inputs |  |  | Total Fair Value
Assets: |  |  |  |  |  |  |  |
Commodities contracts |  | $ | 421.8 |  |  | $ | 131.4 |  |  | $ | 3.5 |  |  | $ | 556.7 |
Foreign currency contracts |  | — |  |  | 2.4 |  |  | — |  |  | 2.4 |
Cash surrender value of life insurance |  | — |  |  | 6.4 |  |  | — |  |  | 6.4 |
Total assets at fair value |  | $ | 421.8 |  |  | $ | 140.2 |  |  | $ | 3.5 |  |  | $ | 565.5 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Commodities contracts |  | $ | 414.7 |  |  | $ | 161.7 |  |  | $ | 2.5 |  |  | $ | 579.0 |
Foreign currency contracts |  | — |  |  | 2.6 |  |  | — |  |  | 2.6 |
Total liabilities at fair value |  | $ | 414.7 |  |  | $ | 164.3 |  |  | $ | 2.5 |  |  | $ | 581.6 |
| Fair Value measurements as of December 31, 2017
|  | Level 1 Inputs |  |  | Level 2 Inputs |  |  | Level 3 Inputs |  |  | Total Fair Value
Assets: |  |  |  |  |  |  |  |
Commodities contracts |  | $ | 196.3 |  |  | $ | 106.1 |  |  | $ | 1.2 |  |  | $ | 303.6 |
Foreign currency contracts |  | — |  |  | 8.5 |  |  | — |  |  | 8.5 |
Cash surrender value of life insurance |  | — |  |  | 5.6 |  |  | — |  |  | 5.6 |
Total assets at fair value |  | $ | 196.3 |  |  | $ | 120.2 |  |  | $ | 1.2 |  |  | $ | 317.7 |
Liabilities: |  |  |  |  |  |  |  |
Commodities contracts |  | $ | 210.6 |  |  | $ | 111.8 |  |  | $ | 1.4 |  |  | $ | 323.9 |
Foreign currency contracts |  | — |  |  | 8.7 |  |  | — |  |  | 8.7 |
Total liabilities at fair value |  | $ | 210.6 |  |  | $ | 120.5 |  |  | $ | 1.4 |  |  | $ | 332.5 |
Schedule of derivative instruments at fair value and their locations on the balance sheets | The following tables summarize those commodity derivative balances subject to the right of offset as presented on our consolidated balance sheet. We have elected to offset the recognized fair value amounts for multiple derivative instruments executed with the same counterparty in our financial statements when a legal right of offset exists.
| Fair Value as of September 30, 2018
|  |  |  |  |  |  |  |  |  | Gross Amounts |  |
|  | Gross Amounts |  | Gross Amounts |  | Net Amounts |  | Cash |  | without |  |
|  | Recognized |  | Offset |  | Presented |  | Collateral |  | Right of Offset |  | Net Amounts
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Commodities contracts |  | $ | 556.7 |  |  | $ | 474.2 |  |  | $ | 82.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 82.5 |
Foreign currency contracts |  | 2.4 |  |  | 1.2 |  |  | 1.2 |  |  | — |  |  | — |  |  | 1.2 |
Total assets at fair value |  | $ | 559.1 |  |  | $ | 475.4 |  |  | $ | 83.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 83.7 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Commodities contracts |  | $ | 579.0 |  |  | $ | 474.2 |  |  | $ | 104.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 104.8 |
Foreign currency contracts |  | 2.6 |  |  | 1.2 |  |  | 1.4 |  |  | — |  |  | — |  |  | 1.4 |
Total liabilities at fair value |  | $ | 581.6 |  |  | $ | 475.4 |  |  | $ | 106.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 106.2 |
| Fair Value as of December 31, 2017
|  |  |  |  |  |  |  |  |  | Gross Amounts |  |
|  | Gross Amounts |  | Gross Amounts |  | Net Amounts |  | Cash |  | without |  |
|  | Recognized |  | Offset |  | Presented |  | Collateral |  | Right of Offset |  | Net Amounts
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Commodities contracts |  | $ | 303.6 |  |  | $ | 228.4 |  |  | $ | 75.1 |  |  | $ | 21.2 |  |  | $ | — |  |  | $ | 53.9 |
Foreign currency contracts |  | 8.5 |  |  | 6.7 |  |  | 1.7 |  |  | — |  |  | — |  |  | 1.7 |
Total assets at fair value |  | $ | 312.0 |  |  | $ | 235.2 |  |  | $ | 76.9 |  |  | $ | 21.2 |  |  | $ | — |  |  | $ | 55.7 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Commodities contracts |  | $ | 323.9 |  |  | $ | 228.4 |  |  | $ | 95.4 |  |  | $ | 39.2 |  |  | $ | — |  |  | $ | 56.2 |
Foreign currency contracts |  | 8.7 |  |  | 6.7 |  |  | 2.0 |  |  | — |  |  | — |  |  | 2.0 |
Total liabilities at fair value |  | $ | 332.5 |  |  | $ | 235.2 |  |  | $ | 97.4 |  |  | $ | 39.2 |  |  | $ | — |  |  | $ | 58.2 |

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration