Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2016

Financial Instruments, Owned, at Fair Value [Abstract]

Estimated Fair Values Of Debt Instruments

The carrying amounts and estimated fair values of marketable securities, derivative instruments and senior notes at June 30, 2016 and December 31, 2015 were as follows:

					Fair Value by Input Level
	Carrying Amount		Fair Value		Level 1		Level 2		Level 3
	(In thousands)
June 30, 2016
Assets:
Marketable securities	$	81,328	$	81,328	$	—	$	81,328	$	—
NYMEX futures contracts	115		115		115		—		—
Commodity price swaps	23,075		23,075		—		23,075		—
Forward contracts	442		442		—		442		—
Total assets	$	104,960	$	104,960	$	115	$	104,845	$	—
Liabilities:
Commodity price swaps	$	47,082	$	47,082	$	—	$	47,082	$	—
Forward contracts	933		933		—		933		—
HollyFrontier senior notes	246,174		265,313		—		265,313		—
HEP senior notes	297,136		301,500		—		301,500		—
HEP interest rate swaps	405		405		—		405		—
Total liabilities	$	591,730	$	615,233	$	—	$	615,233	$	—

December 31, 2015
Assets:
Marketable securities	$	144,019	$	144,019	$	—	$	144,019	$	—
NYMEX futures contracts	3,469		3,469		3,469		—		—
Commodity price swaps	37,097		37,097		—		37,097		—
HEP interest rate swaps	304		304		—		304		—
Total assets	$	184,889	$	184,889	$	3,469	$	181,420	$	—
Liabilities:
Commodity price swaps	$	98,930	$	98,930	$	—	$	98,930	$	—
HEP senior notes	296,752		295,500		—		295,500		—
HEP interest rate swaps	114		114		—		114		—
Total liabilities	$	395,796	$	394,544	$	—	$	394,544	$	—

Fair Value, Recurring Basis, Level 3 Roll Forward

The following table presents the changes in fair value of our Level 3 assets and liabilities (all related to derivative instruments) for the three and six months ended June 30, 2015:

	Three Months Ended June 30, 2015			Six Months Ended June 30, 2015
Level 3 Instruments
	(In thousands)
Liability balance at beginning of period	$	(2,552	)	$	—
Change in fair value:
Recognized in other comprehensive income	6,404			3,852
Settlement date fair value of contractual maturities:
Recognized in sales and other revenues	(3,852		)	(3,852		)
Liability balance at end of period	$	—		$	—