v2.4.0.8
FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2013
Fair Value Disclosures [Abstract]  
Fair Value, Measurement Inputs, Disclosure [Text Block]
The following assets and liabilities are measured at fair value on a recurring basis:
 
December 31, 2013
 
Level 1
 
Level 2
 
Level 3
 
Total
 
(Thousands of Dollars)
Other current assets:
 
 
 
 
 
 
 
Product imbalances
$
1,980

 
$

 
$

 
$
1,980

Commodity derivatives

 
4,948

 

 
4,948

Other long-term assets, net:
 
 
 
 
 
 
 
Commodity derivatives

 
6,977

 

 
6,977

Accrued liabilities:
 
 
 
 
 
 
 
Product imbalances
(2,190
)
 

 

 
(2,190
)
Commodity derivatives
(1,433
)
 
(800
)
 

 
(2,233
)
Contingent consideration

 

 
(1,318
)
 
(1,318
)
Other long-term liabilities:
 
 
 
 
 
 
 
Commodity derivatives

 
(1,575
)
 

 
(1,575
)
Guarantee liability

 

 
(1,880
)
 
(1,880
)
Total
$
(1,643
)
 
$
9,550

 
$
(3,198
)
 
$
4,709


 
December 31, 2012
 
Level 1
 
Level 2
 
Level 3
 
Total
 
(Thousands of Dollars)
Other current assets:
 
 
 
 
 
 
 
Product imbalances
$
1,232

 
$

 
$

 
$
1,232

Commodity derivatives
1,001

 
8,357

 

 
9,358

Other long-term assets, net:
 
 
 
 
 
 
 
Commodity derivatives

 
9,206

 

 
9,206

Accrued liabilities:
 
 
 
 
 
 
 
Product imbalances
(1,686
)
 

 

 
(1,686
)
Commodity derivatives

 
(19,210
)
 

 
(19,210
)
Interest rate swaps

 
(40,911
)
 

 
(40,911
)
Contingent consideration

 

 
(9,600
)
 
(9,600
)
Total
$
547

 
$
(42,558
)
 
$
(9,600
)
 
$
(51,611
)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
The following table summarizes the activity in our Level 3 liabilities:
 
Year Ended 
December 31, 2013
 
(Thousands of Dollars)
Beginning balance
$
9,600

Amounts settled
(1,114
)
Adjustment to guarantee liability
1,880

Changes in fair value recorded in earnings:
 
Operating expenses
(8,000
)
Interest expense, net
832

Ending balance
$
3,198

Fair Value and Carrying Value of Debt and Note Receivable from Related Party [Text Block]
The estimated fair values and carrying amounts of our debt and note receivable from Asphalt JV were as follows:
 
December 31,
 
2013

2012
 
(Thousands of Dollars)
Debt:
 
 
 
Fair value
$
2,636,734

 
$
2,377,120

Carrying amount
$
2,655,553

 
$
2,411,004

 
 
 
 
Note Receivable from Related Party:
 
 
 
Fair value
$
133,416

 
$
91,705

Carrying amount
$
165,440

 
$
95,711