XML 41 R30.htm IDEA: XBRL DOCUMENT v3.25.2

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on a recurring basis

The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis:

(in thousands)			June 30, 2025
Assets (liabilities)			Level 1						Level 2						Level 3						Total
Commodity derivatives, net (a)			$	40,995					$	30,035					$	—					$	71,030
Provisionally priced contracts (b)			(6,317)						(11,485)						—						(17,802)
Convertible preferred securities (c)			—						—						18,190						18,190
Other assets and liabilities (d)			9,703						18,184						—						27,887
Total			$	44,381					$	36,734					$	18,190					$	99,305

(in thousands)			December 31, 2024
Assets (liabilities)			Level 1						Level 2						Level 3						Total
Commodity derivatives, net (a)			$	47,721					$	42,330					$	—					$	90,051
Provisionally priced contracts (b)			(12,203)						(45,017)						—						(57,220)
Convertible preferred securities (c)			—						—						14,190						14,190
Other assets and liabilities (d)			2,711						29,183						—						31,894
Total			$	38,229					$	26,496					$	14,190					$	78,915

(in thousands)			June 30, 2024
Assets (liabilities)			Level 1						Level 2						Level 3						Total
Commodity derivatives, net (a)			$	50,587					$	1,079					$	—					$	51,666
Provisionally priced contracts (b)			(40,720)						(16,133)						—						(56,853)
Convertible preferred securities (c)			—						—						15,625						15,625
Other assets and liabilities (d)			4,949						32,749						—						37,698
Total			$	14,816					$	17,695					$	15,625					$	48,136

(a)Includes associated cash posted/received as collateral.

(b)Included in "Provisionally priced contracts" are those instruments based only on underlying futures values (Level 1) and delayed price contracts (Level 2).

(c)Recorded in “Other assets, net” on the Company’s Condensed Consolidated Balance Sheets related to certain available for sale securities.

(d)Included in other assets and liabilities are assets held by the Company to fund deferred compensation plans and foreign exchange derivative contracts (Level 1), as well as interest rate derivatives (Level 2).

Fair Value Inputs, Assets, Quantitative Information

The following table summarizes quantitative information about the Company's Level 3 fair value measurements:

Quantitative Information about Recurring Level 3 Fair Value Measurements

Fair Value as of

(in thousands)

June 30, 2025

December 31, 2024

June 30, 2024

Valuation Method

Unobservable Input

Weighted Average

Convertible preferred securities (a)

$

18,190

$

14,190

$

15,625

Implied based on market prices

N/A

N/A

(a) The Company considers observable price changes and other additional market data available to estimate fair value, including additional capital raising, internal valuation models, progress towards key business milestones, and other relevant market data points.

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration