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Inventory

6 Months Ended

Jun. 30, 2011

Inventory at December 31, 2010 and June 30, 2011 was as follows (in thousands):




	December 31, 2010		June 30, 2011
Refined petroleum products	$	146,211	$	142,398
Natural gas liquids	27,982		72,195
Transmix	32,277		49,023
Crude oil	5,008		15,822
Additives	4,930		6,558
Total inventory	$	216,408	$	285,996

The increase in natural gas liquids was due to the purchase of butane during 2011 in anticipation of the petroleum products blending season, which begins each September.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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