XML 38 R27.htm IDEA: XBRL DOCUMENT v3.24.3
Fair Value Disclosures (Tables)
 9 Months Ended
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 cash24,500 — 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 cash29,188 — 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.