v3.8.0.1
FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2017
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, 2017
 
Level 1
 
Level 2
 
Level 3
 
Total
 
(Thousands of Dollars)
Assets:
 
 
 
 
 
 
 
Other current assets:
 
 
 
 
 
 
 
Product imbalances
$
3,890

 
$

 
$

 
$
3,890

Liabilities:
 
 
 
 
 
 
 
Accrued liabilities:
 
 
 
 
 
 
 
Product imbalances
$
(1,534
)
 
$

 
$

 
$
(1,534
)
Commodity derivatives
(878
)
 

 

 
(878
)
Interest rate swaps

 
(5,394
)
 

 
(5,394
)
Other long-term liabilities:
 
 
 
 
 
 
 
Interest rate swaps

 
(4,594
)
 

 
(4,594
)
Total
$
(2,412
)
 
$
(9,988
)
 
$

 
$
(12,400
)

 
December 31, 2016
 
Level 1
 
Level 2
 
Level 3
 
Total
 
(Thousands of Dollars)
Assets:
 
 
 
 
 
 
 
Other current assets:
 
 
 
 
 
 
 
Product imbalances
$
1,551

 
$

 
$

 
$
1,551

Commodity derivatives

 
155

 

 
155

Other long-term assets, net:
 
 
 
 
 
 
 
Interest rate swaps

 
1,314

 

 
1,314

Total
$
1,551

 
$
1,469

 
$

 
$
3,020

Liabilities:
 
 
 
 
 
 
 
Accrued liabilities:
 
 
 
 
 
 
 
Product imbalances
$
(1,577
)
 
$

 
$

 
$
(1,577
)
Commodity derivatives
(4,887
)
 
(165
)
 

 
(5,052
)
Other long-term liabilities:
 
 
 
 
 
 
 
Guarantee liability

 

 
(1,230
)
 
(1,230
)
Interest rate swaps

 
(2,632
)
 

 
(2,632
)
Total
$
(6,464
)
 
$
(2,797
)
 
$
(1,230
)
 
$
(10,491
)
Fair Value and Carrying Value of Debt and Note Receivable [Text Block]
The estimated fair values and carrying amounts of the long-term debt, including the current portion, and the Axeon Term Loan were as follows:
 
December 31, 2017
 
December 31, 2016
 
Long-term Debt
 
Long-term Debt
 
Axeon Term Loan
 
(Thousands of Dollars)
Fair value
$
3,677,622

 
$
3,084,762

 
$
110,000

Carrying amount
$
3,613,059

 
$
3,014,364

 
$
110,000