Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured on Recurring Basis

The fair value hierarchy for our financial assets and liabilities accounted for at fair value on a recurring basis was as follows (in millions):

	As of September 30, 2023
	Level 1		Level 2		Level 3		Total
Assets
Commodity derivatives	$	—	$	137.0	$	—	$	137.0
RINs commitment contracts	—		2.1		—		2.1
Total assets	—		139.1		—		139.1
Liabilities
Commodity derivatives	—		(147.6)		—		(147.6)
RINs commitment contracts	—		(3.3)		—		(3.3)
Environmental credits obligation deficit	—		(38.8)		—		(38.8)
Inventory Intermediation Agreement obligation	—		(502.2)		—		(502.2)
Total liabilities	—		(691.9)		—		(691.9)
Net liabilities	$	—	$	(552.8)	$	—	$	(552.8)

	As of December 31, 2022
	Level 1		Level 2		Level 3		Total
Assets
Commodity derivatives	$	—	$	319.2	$	—	$	319.2
RINs commitment contracts	—		9.7		—		9.7
Total assets	—		328.9		—		328.9
Liabilities
Commodity derivatives	—		(334.7)		—		(334.7)
RINs commitment contracts	—		(6.6)		—		(6.6)
Environmental credits obligation deficit	—		(295.5)		—		(295.5)
Inventory Intermediation Agreement obligation	—		(541.7)		—		(541.7)
Total liabilities	—		(1,178.5)		—		(1,178.5)
Net liabilities	$	—	$	(849.6)	$	—	$	(849.6)