Fair Value Disclosures (Tables)

9 Months Ended

Sep. 30, 2020

Schedule Of Assets And Liabilities Fair Value

The company’s assets and liabilities by level are as follows (in thousands):


	Fair Value Measurements at September 30, 2020
	Quoted Prices in ‎ Active Markets for ‎Identical Assets		Significant Other ‎Observable Inputs
	(Level 1)		(Level 2)		Total
Assets:
Cash and cash equivalents	$	150,407	$	-	$	150,407
Restricted cash		31,877		-		31,877
Inventories carried at market		-		29,963		29,963
Unrealized gains on derivatives		-		14,687		14,687
Other assets		112		3,008		3,120
Total assets measured at fair value	$	182,396	$	47,658	$	230,054

Liabilities:
Accounts payable ⁽¹⁾	$	-	$	24,074	$	24,074
Unrealized losses on derivatives		-		8,325		8,325
Total liabilities measured at fair value	$	-	$	32,399	$	32,399


	Fair Value Measurements at December 31, 2019
	Quoted Prices in ‎ Active Markets for ‎Identical Assets		Significant Other ‎Observable Inputs
	(Level 1)		(Level 2)		Total
Assets:
Cash and cash equivalents	$	245,977	$	-	$	245,977
Restricted cash		23,919		-		23,919
Inventories carried at market		-		73,318		73,318
Unrealized gains on derivatives		-		14,515		14,515
Other assets		113		-		113
Total assets measured at fair value	$	270,009	$	87,833	$	357,842

Liabilities:
Accounts payable ⁽¹⁾	$	-	$	37,294	$	37,294
Unrealized losses on derivatives		-		7,771		7,771
Total liabilities measured at fair value	$	-	$	45,065	$	45,065

(1)Accounts payable is generally stated at historical amounts with the exception of $12.3 million and $37.3 million at September 30, 2020 and December 31, 2019, respectively, related to certain delivered inventory for which the payable fluctuates based on changes in commodity prices. These payables are hybrid financial instruments for which the company has elected the fair value option.