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Inventory

3 Months Ended

Mar. 31, 2012

4. Inventory

Inventory at December 31, 2011 and March 31, 2012 was as follows (in thousands):


		December 31,
		2011		March 31, 2012
Refined petroleum products	$	127,999	$	117,865
Natural gas liquids		55,490		46,691
Transmix		60,251		55,968
Crude oil		8,065		12,064
Additives		7,055		7,579
Total inventory	$	258,860	$	240,167

- 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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