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Fair Value Disclosures (Tables) | 9 Months Ended
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Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Assets and Liabilities at Fair Value | The company’s assets and liabilities by level are as follows (in thousands):
| Fair Value Measurements at September 30, 2024
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Total
Assets |  |  |  |  |
Cash and cash equivalents | $ | 227,460 |  |  | $ | — |  |  | $ | 227,460 |
Restricted cash | 24,500 |  |  | — |  |  | 24,500 |
Inventories carried at market | — |  |  | 32,336 |  |  | 32,336 |
Derivative financial instruments - assets | — |  |  | 6,554 |  |  | 6,554 |
Other assets | — |  |  | 15 |  |  | 15 |
Total assets measured at fair value | $ | 251,960 |  |  | $ | 38,905 |  |  | $ | 290,865 |
Liabilities |  |  |  |  |
Accounts payable (1) | $ | — |  |  | $ | 20,794 |  |  | $ | 20,794 |
Accrued and other liabilities (2) | — |  |  | 2,094 |  |  | 2,094 |
Derivative financial instruments - liabilities | — |  |  | 9,169 |  |  | 9,169 |
Other liabilities (2) | — |  |  | 1,138 |  |  | 1,138 |
Total liabilities measured at fair value | $ | — |  |  | $ | 33,195 |  |  | $ | 33,195 |
| Fair Value Measurements at December 31, 2023
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Total
Assets |  |  |  |  |
Cash and cash equivalents | $ | 349,574 |  |  | $ | — |  |  | $ | 349,574 |
Restricted cash | 29,188 |  |  | — |  |  | 29,188 |
Inventories carried at market | — |  |  | 45,898 |  |  | 45,898 |
Derivative financial instruments - assets | — |  |  | 13,311 |  |  | 13,311 |
Total assets measured at fair value | $ | 378,762 |  |  | $ | 59,209 |  |  | $ | 437,971 |
Liabilities |  |  |  |  |
Accounts payable (1) | $ | — |  |  | $ | 54,716 |  |  | $ | 54,716 |
Accrued and other liabilities (2) | — |  |  | 9,917 |  |  | 9,917 |
Derivative financial instruments - liabilities | — |  |  | 10,577 |  |  | 10,577 |
Other liabilities (2) | — |  |  | 659 |  |  | 659 |
Total liabilities measured at fair value | $ | — |  |  | $ | 75,869 |  |  | $ | 75,869 |
(1)Accounts payable is generally stated at historical amounts with the exception of $20.8 million and $54.7 million at September 30, 2024 and December 31, 2023, 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. (2)As of September 30, 2024 and December 31, 2023, respectively, accrued and other liabilities includes $2.1 million and $9.9 million and other liabilities includes $1.0 million and $0.7 million of consideration related to potential earn-out payments recorded at fair value.

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- 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
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