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 September 30,
	2016			2015
	(in thousands)
Propylene swaps	$	(3,334	)	$	4,496
Diesel fuel option collars		(689	)		1,348
Interest rate swaps		(130	)		(71	)

Total unrealized mark-to-market (gains) losses	$	(4,153	)	$	5,773

Propylene swaps		1,611			2,965
Diesel fuel option collars		679			764
Foreign exchange forward contracts		—			(38	)

Total realized losses	$	2,290		$	3,691


	Six Months Ended September 30,
	2016			2015
	(in thousands)
Propylene swaps	$	(6,647	)	$	9,559
Diesel fuel option collars		(2,161	)		90
Interest rate swaps		(252	)		(115	)

Total unrealized mark-to-market (gains) losses	$	(9,060	)	$	9,534

Propylene swaps		4,683			5,401
Diesel fuel option collars		1,385			1,102
Foreign exchange forward contracts		—			(38	)

Total realized losses	$	6,068		$	6,465

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 expense of $0.1 million and income of $1.8 million for the three and six month period ending September 30, 2016, and income of $0.3 million and $0.2 million for the three and six month period ending September 30, 2015, respectively. A summary of the fair value of derivatives as of the periods presented is as follows:


	September 30, 2016
	Assets				Liabilities
	Receivables		Other assets		Other accrued liabilities			Other liabilities
	(In thousands)
Interest rate swaps	$	—	$	—	$	—		$	—
Diesel fuel option collars and swaps		208		66		(664	)		(53	)
Propylene swaps		—		—		(1,380	)		—


	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	)		—