Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule Of Forward Purchase And Sales Contracts

As of September 30, 2015, we had commitments under these forward purchase and sale contracts as follows (in millions):

	Notional Value		Barrels
Forward purchase contracts	$	137.5	3.9
Forward sale contracts	$	0.3	—

Schedule Of NYMEX Contracts And Butane Price Swap Purchase Agreements

As outlined in the table below, our open NYMEX contracts at September 30, 2015 were as follows:

Type of Contract/Accounting Methodology	Product Represented by the Contract and Associated Barrels	Maturity Dates
NYMEX - Fair Value Hedges	0.7 million barrels of crude oil	Between December 2015 and November 2016
NYMEX - Economic Hedges	5.4 million barrels of refined products and crude oil(1)	Between October 2015 and December 2016
NYMEX - Economic Hedges	1.2 million barrels of future purchases of butane	Between October 2015 and December 2016

(1) Of the 5.4 million barrels of products we have economically hedged at September 30, 2015, we had open agreements which swap the pricing on 1.2 million of those barrels from New York Harbor to Platts Group 3 or Platts Gulf Coast, which are the geographic locations where these barrels will be sold.

Derivatives and Offset Amounts [Table Text Block]

A schedule of the derivative amounts we have offset and the deposit amounts we could offset under a master netting arrangement are provided below as of December 31, 2014 and September 30, 2015 (in thousands):

	December 31, 2014
Description	Gross Amounts of Recognized Assets		Gross Amounts of Liabilities Offset in the Consolidated Balance Sheet			Net Amounts of Assets Presented in the Consolidated Balance Sheet(1)		Margin Deposit Amounts Not Offset in the Consolidated Balance Sheet			Net Asset Amount(3)
Energy commodity derivatives	$	106,764	$	(10,622	)	$	96,142	$	(78,279	)	$	17,863

	September 30, 2015
Description	Gross Amounts of Recognized Assets		Gross Amounts of Liabilities Offset in the Consolidated Balance Sheet			Net Amounts of Assets Presented in the Consolidated Balance Sheet(2)		Margin Deposit Amounts Not Offset in the Consolidated Balance Sheet			Net Asset Amount(3)
Energy commodity derivatives	$	89,138	$	(10,695	)	$	78,443	$	(49,447	)	$	28,996

(1) Net amount includes energy commodity derivative contracts classified as current assets, net, of $87,151, current liabilities of $5,413 and noncurrent assets of $14,404.

(2) Net amount includes energy commodity derivative contracts classified as current assets, net, of $49,172 and noncurrent assets of $29,271.

(3) This represents the maximum amount of loss we would incur if all of our counterparties failed to perform on their derivative contracts.

Derivative Gains Included In Accumulated Other Comprehensive Loss (AOCL)

The changes in derivative activity included in AOCL for the three and nine months ended September 30, 2014 and 2015 were as follows (in thousands):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
Derivative Gains (Losses) Included in AOCL	2014			2015			2014			2015
Beginning balance	$	9,835		$	(29,528	)	$	13,627		$	(16,587	)
Net loss on interest rate contract cash flow hedges	(1,830		)	(3,410		)	(5,443		)	(16,939		)
Reclassification of net loss (gain) on cash flow hedges to income	119			388			(60		)	976
Ending balance	$	8,124		$	(32,550	)	$	8,124		$	(32,550	)

Derivatives And Hedging-Cash Flow Hedges

The following tables provide a summary of the effect on our consolidated statements of income for the three and nine months ended September 30, 2014 and 2015 of derivatives accounted for under ASC 815-30, Derivatives and Hedging—Cash Flow Hedges, that were designated as cash flow hedging instruments (in thousands):

	Three Months Ended September 30, 2014
	Amount of Loss Recognized in AOCL on Derivative				Location of Loss Reclassified from AOCL into  Income	Amount of Loss Reclassified from AOCL into Income
Derivative Instrument						Effective Portion				Ineffective Portion
Interest rate contracts		$	(1,830	)	Interest expense		$	(119	)		$	—

	Three Months Ended September 30, 2015
	Amount of Loss Recognized in AOCL on Derivative				Location of Loss Reclassified from AOCL into  Income	Amount of Loss Reclassified from AOCL into Income
Derivative Instrument						Effective Portion				Ineffective Portion
Interest rate contracts		$	(3,410	)	Interest expense		$	(388	)		$	—

Derivatives And Hedging-Overall-Subsequent Measurement

The following table provides a summary of the effect on our consolidated statements of income for the three and nine months ended September 30, 2014 and 2015 of derivatives accounted for under ASC 815, Derivatives and Hedging, that were not designated as hedging instruments (in thousands):

		Amount of Gain (Loss) Recognized on Derivatives
		Three Months Ended						Nine Months Ended
	Location of Gain (Loss) Recognized on Derivatives	September 30,						September 30,
Derivative Instruments		2014			2015			2014			2015
NYMEX commodity contracts	Product sales revenue	$	47,545		$	71,902		$	33,715		$	52,432
NYMEX commodity contracts	Operating expenses	4,350			14,761			447			7,181
NYMEX commodity contracts	Cost of product sales	(3,913		)	(3,767		)	(3,137		)	(5,847		)
	Total	$	47,982		$	82,896		$	31,025		$	53,766

Derivatives And Hedging-Designated

The following tables provide a summary of the fair value of derivatives accounted for under ASC 815, Derivatives and Hedging, which are presented on a net basis in our consolidated balance sheets, that were designated as hedging instruments as of December 31, 2014 and September 30, 2015 (in thousands):

	December 31, 2014
	Asset Derivatives			Liability Derivatives
Derivative Instrument	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
NYMEX commodity contracts	Energy commodity derivatives contracts, net	$	360	Energy commodity derivatives contracts, net	$	—
NYMEX commodity contracts	Other noncurrent assets	14,404		Other noncurrent liabilities	—
Interest rate contracts	Other current assets	—		Other current liabilities	26,478
	Total	$	14,764	Total	$	26,478

	September 30, 2015
	Asset Derivatives			Liability Derivatives
Derivative Instrument	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
NYMEX commodity contracts	Energy commodity derivatives contracts, net	$	913	Energy commodity derivatives contracts, net	$	—
NYMEX commodity contracts	Other noncurrent assets	24,499		Other noncurrent liabilities	—
Interest rate contracts	Other noncurrent assets	574		Other noncurrent liabilities	1,082
	Total	$	25,986	Total	$	1,082

The following tables provide a summary of the fair value of derivatives accounted for under ASC 815, Derivatives and Hedging, which are presented on a net basis in our consolidated balance sheets, that were not designated as hedging instruments as of December 31, 2014 and September 30, 2015 (in thousands):

	December 31, 2014
	Asset Derivatives			Liability Derivatives
Derivative Instrument	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
NYMEX commodity contracts	Energy commodity derivatives contracts, net	$	92,000	Energy commodity derivatives contracts, net	$	10,622
	September 30, 2015
	Asset Derivatives			Liability Derivatives
Derivative Instrument	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
NYMEX commodity contracts	Energy commodity derivatives contracts, net	$	58,685	Energy commodity derivatives contracts, net	$	10,426
NYMEX commodity contracts	Other noncurrent assets	5,041		Other noncurrent liabilities	269
	Total	$	63,726	Total	$	10,695