v2.4.0.6
FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Sep. 30, 2012
FAIR VALUE MEASUREMENTS [Abstract]  
Fair Value, Measurement Inputs, Disclosure [Text Block]
The following assets and liabilities are measured at fair value:
 
September 30, 2012
 
Level 1
 
Level 2
 
Level 3
 
Total
 
(Thousands of Dollars)
Other current assets:
 
 
 
 
 
 
 
Product imbalances
$
898

 
$

 
$

 
$
898

Commodity derivatives
19,013

 
2,365

 

 
21,378

Other long-term assets, net:
 
 
 
 
 
 
 
Commodity derivatives

 
6,675

 

 
6,675

Accrued liabilities:
 
 
 
 
 
 
 
Product imbalances
(577
)
 

 

 
(577
)
Commodity derivatives
(5,929
)
 
(20,861
)
 

 
(26,790
)
Interest rate swaps

 
(41,117
)
 

 
(41,117
)
Other long-term liabilities:
 
 
 
 
 
 
 
Commodity derivatives

 
(1,265
)
 

 
(1,265
)
Total
$
13,405

 
$
(54,203
)
 
$

 
$
(40,798
)

 
December 31, 2011
 
Level 1
 
Level 2
 
Level 3
 
Total
 
(Thousands of Dollars)
Other current assets:
 
 
 
 
 
 
 
Product imbalances
$
2,117

 
$

 
$

 
$
2,117

Commodity derivatives
10,282

 
1,830

 

 
12,112

Other long-term assets, net:
 
 
 
 
 
 
 
Commodity derivatives

 
27,084

 

 
27,084

Interest rate swaps

 
2,335

 

 
2,335

Accrued liabilities:
 
 
 
 
 
 
 
Product imbalances
(1,469
)
 

 

 
(1,469
)
Commodity derivatives
(5,424
)
 

 

 
(5,424
)
Interest rate swaps

 
(22,009
)
 

 
(22,009
)
Other long-term liabilities:
 
 
 
 
 
 
 
Interest rate swaps

 
(27,190
)
 

 
(27,190
)
Total
$
5,506

 
$
(17,950
)
 
$

 
$
(12,444
)

Fair Value and Carrying Value of Debt [Text Block]
The estimated fair value and carrying amount of our debt was as follows:
 
September 30,
2012
 
December 31,
2011
 
(Thousands of Dollars)
Fair value
$
2,018,993

 
$
2,377,565

Carrying amount
$
2,036,406

 
$
2,293,030