6.	DERIVATIVE TRANSACTIONS

The Company uses interest rate swaps, commodity options in the form of collars and swaps, and foreign currency forward contracts to manage its various exposures to interest rate, commodity price and foreign currency exchange rate fluctuations. For interest rate swaps, gains and losses resulting from the difference between the spot rate and applicable base rate is recorded in interest expense. For collars, commodity swaps and foreign exchange forward contracts, contract settlement gains and losses are recorded in the Condensed Consolidated Statements of Operations in Derivative (gains) losses and other (income) expense, net. Gains and losses related to mark-to-market adjustments for changes in fair value of the derivative contracts are also recorded in the Condensed Consolidated Statements of Operations in Derivative (gains) losses and other (income) expense, net.

The Company recorded losses and (gains) on mark-to-market adjustments for changes in the fair value of derivatives contracts as well and losses and (gains) on the settlement of derivative contracts as follows:


	Three Months Ended June 30,
	2016			2015
	(in thousands)
Propylene swaps	$	(3,313	)	$	5,063
Diesel fuel option collars		(1,472	)		(1,258	)
Interest rate swaps		(122	)		(44	)

Total unrealized mark-to-market (gains) losses	$	(4,907	)	$	3,761

Propylene swaps		3,072			2,436
Diesel fuel option collars		706			338

Total realized losses	$	3,778		$	2,774

In addition to the above amounts, Derivative (gains) losses and other (income) expense, net in the Condensed Consolidated Statements of Operations also includes other non-operating income of $1.9 million and non-operating expense of less than $0.1 million for June 30, 2016 and June 30, 2015, respectively. A summary of the fair value of derivatives as of the periods presented is presented below:


	June 30, 2016
	Assets				Liabilities
	Receivables		Other assets		Other accrued liabilities			Other liabilities
	(In thousands)
Interest rate swaps	$	—	$	—	$	(130	)	$	—
Diesel fuel option collars and swaps		19		46		(1,163	)		(34	)
Propylene swaps		—		—		(4,714	)		—

	March 31, 2016
	Assets				Liabilities
	Receivables		Other assets		Other accrued liabilities			Other liabilities
	(In thousands)
Interest rate swaps	$	—	$	—	$	(252	)	$	—
Diesel fuel option collars and swaps		—		11		(2,609	)		(6	)
Propylene swaps		—		—		(8,027	)		—