Financial Instruments and Off-Balance Sheet Risk (Tables)
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12 Months Ended |
Dec. 31, 2015 |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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| Schedule of Fair Value, Financial Assets and Liabilities |
The following table presents all financial assets and financial liabilities of the Partnership measured at fair value on a recurring basis as of December 31, 2015 and 2014: | | | | | | | | | | | | | | | | | | As of December 31, 2015 | | Fair Value Measurement | | Quoted Prices in Active Markets Level 1 | | Significant Other Observable Inputs Level 2 | | Significant Unobservable Inputs Level 3 | Financial assets: | | | | | | | | Commodity fixed forwards | $ | 157,389 |
| | $ | — |
| | $ | 157,389 |
| | $ | — |
| Commodity swaps and options | 51 |
| | — |
| | 51 |
| | — |
| Commodity derivatives | 157,440 |
| | — |
| | 157,440 |
| | — |
| Interest rate swaps | 274 |
| | — |
| | 274 |
| | — |
| Total | $ | 157,714 |
| | $ | — |
| | $ | 157,714 |
| | $ | — |
| Financial liabilities: | | | | | | | | Commodity fixed forwards | $ | 31,801 |
| | $ | — |
| | $ | 31,801 |
| | $ | — |
| Commodity swaps and options | 4,250 |
| | — |
| | 4,250 |
| | — |
| Commodity derivatives | 36,051 |
| | — |
| | 36,051 |
| | — |
| Interest rate swaps | 1,115 |
| | — |
| | 1,115 |
| | — |
| Other | 12 |
| | — |
| | 12 |
| | — |
| Total | $ | 37,178 |
| | $ | — |
| | $ | 37,178 |
| | $ | — |
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| | | | | | | | | | | | | | | | | | As of December 31, 2014 | | Fair Value Measurement | | Quoted Prices in Active Markets Level 1 | | Significant Other Observable Inputs Level 2 | | Significant Unobservable Inputs Level 3 | Financial assets: | | | | | | | | Commodity fixed forwards | $ | 229,679 |
| | $ | — |
| | $ | 229,679 |
| | $ | — |
| Commodity swaps and options | 74 |
| | — |
| | 74 |
| | — |
| Commodity derivatives | 229,753 |
| | — |
| | 229,753 |
| | — |
| Interest rate swaps | 137 |
| | — |
| | 137 |
| | — |
| Total | $ | 229,890 |
| | $ | — |
| | $ | 229,890 |
| | $ | — |
| Financial liabilities: | | | | | | | | Commodity exchange contracts | $ | 97 |
| | $ | 97 |
| | $ | — |
| | $ | — |
| Commodity fixed forwards | 80,080 |
| | — |
| | 80,080 |
| | — |
| Commodity swaps and options | 8,424 |
| | — |
| | 8,424 |
| | — |
| Commodity derivatives | 88,601 |
| | 97 |
| | 88,504 |
| | — |
| Interest rate swaps | 553 |
| | — |
| | 553 |
| | — |
| Other | 22 |
| | — |
| | 22 |
| | — |
| Total | $ | 89,176 |
| | $ | 97 |
| | $ | 89,079 |
| | $ | — |
|
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| Offsetting Liabilities |
Information related to these offsetting arrangements as of December 31, 2015 and 2014 is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2015 | | | | | | | | Gross Amount Not Offset in the Balance Sheet | | Net Amount | | Gross Amounts of Recognized Assets/ Liabilities | Gross Amounts Offset in the Balance Sheet | Amounts of Assets/ Liabilities in Balance Sheet | Financial Instruments | | Cash Collateral Posted | | Commodity derivative assets | $ | 157,440 |
| | $ | — |
| | $ | 157,440 |
| | $ | (1,811 | ) | | $ | (1,798 | ) | | $ | 153,831 |
| Interest rate swap derivative assets | 274 |
| | — |
| | 274 |
| | — |
| | — |
| | 274 |
| Fair value of derivative assets | $ | 157,714 |
| | $ | — |
| | $ | 157,714 |
| | $ | (1,811 | ) | | $ | (1,798 | ) | | $ | 154,105 |
| | | | | | | | | | | | | Commodity derivative liabilities | $ | (36,051 | ) | | $ | — |
| | $ | (36,051 | ) | | $ | 1,811 |
| | $ | — |
| | $ | (34,240 | ) | Interest rate swap derivative liabilities | (1,115 | ) | | — |
| | (1,115 | ) | | — |
| | — |
| | (1,115 | ) | Other liabilities | (12 | ) | | — |
| | (12 | ) | | — |
| | — |
| | (12 | ) | Fair value of derivative liabilities | $ | (37,178 | ) | | $ | — |
| | $ | (37,178 | ) | | $ | 1,811 |
| | $ | — |
| | $ | (35,367 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2014 | | | | | | | | Gross Amount Not Offset in the Balance Sheet | | Net Amount | | Gross Amounts of Recognized Assets/ Liabilities | Gross Amounts Offset in the Balance Sheet | Amounts of Assets/ Liabilities in Balance Sheet | Financial Instruments | | Cash Collateral Posted | | Commodity derivative assets | $ | 229,753 |
| | $ | — |
| | $ | 229,753 |
| | $ | (4,831 | ) | | $ | (2,417 | ) | | $ | 222,505 |
| Interest rate swap derivative assets | 137 |
| | — |
| | 137 |
| | — |
| | — |
| | 137 |
| Fair value of derivative assets | $ | 229,890 |
| | $ | — |
| | $ | 229,890 |
| | $ | (4,831 | ) | | $ | (2,417 | ) | | $ | 222,642 |
| | | | | | | | | | | | | Commodity derivative liabilities | $ | (88,601 | ) | | $ | — |
| | $ | (88,601 | ) | | $ | 4,831 |
| | $ | — |
| | $ | (83,770 | ) | Interest rate swap derivative liabilities | (553 | ) | | — |
| | (553 | ) | | — |
| | — |
| | (553 | ) | Other liabilities | (22 | ) | | — |
| | (22 | ) | | — |
| | — |
| | (22 | ) | Fair value of derivative liabilities | $ | (89,176 | ) | | $ | — |
| | $ | (89,176 | ) | | $ | 4,831 |
| | $ | — |
| | $ | (84,345 | ) |
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| Offsetting Assets |
Information related to these offsetting arrangements as of December 31, 2015 and 2014 is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2015 | | | | | | | | Gross Amount Not Offset in the Balance Sheet | | Net Amount | | Gross Amounts of Recognized Assets/ Liabilities | Gross Amounts Offset in the Balance Sheet | Amounts of Assets/ Liabilities in Balance Sheet | Financial Instruments | | Cash Collateral Posted | | Commodity derivative assets | $ | 157,440 |
| | $ | — |
| | $ | 157,440 |
| | $ | (1,811 | ) | | $ | (1,798 | ) | | $ | 153,831 |
| Interest rate swap derivative assets | 274 |
| | — |
| | 274 |
| | — |
| | — |
| | 274 |
| Fair value of derivative assets | $ | 157,714 |
| | $ | — |
| | $ | 157,714 |
| | $ | (1,811 | ) | | $ | (1,798 | ) | | $ | 154,105 |
| | | | | | | | | | | | | Commodity derivative liabilities | $ | (36,051 | ) | | $ | — |
| | $ | (36,051 | ) | | $ | 1,811 |
| | $ | — |
| | $ | (34,240 | ) | Interest rate swap derivative liabilities | (1,115 | ) | | — |
| | (1,115 | ) | | — |
| | — |
| | (1,115 | ) | Other liabilities | (12 | ) | | — |
| | (12 | ) | | — |
| | — |
| | (12 | ) | Fair value of derivative liabilities | $ | (37,178 | ) | | $ | — |
| | $ | (37,178 | ) | | $ | 1,811 |
| | $ | — |
| | $ | (35,367 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2014 | | | | | | | | Gross Amount Not Offset in the Balance Sheet | | Net Amount | | Gross Amounts of Recognized Assets/ Liabilities | Gross Amounts Offset in the Balance Sheet | Amounts of Assets/ Liabilities in Balance Sheet | Financial Instruments | | Cash Collateral Posted | | Commodity derivative assets | $ | 229,753 |
| | $ | — |
| | $ | 229,753 |
| | $ | (4,831 | ) | | $ | (2,417 | ) | | $ | 222,505 |
| Interest rate swap derivative assets | 137 |
| | — |
| | 137 |
| | — |
| | — |
| | 137 |
| Fair value of derivative assets | $ | 229,890 |
| | $ | — |
| | $ | 229,890 |
| | $ | (4,831 | ) | | $ | (2,417 | ) | | $ | 222,642 |
| | | | | | | | | | | | | Commodity derivative liabilities | $ | (88,601 | ) | | $ | — |
| | $ | (88,601 | ) | | $ | 4,831 |
| | $ | — |
| | $ | (83,770 | ) | Interest rate swap derivative liabilities | (553 | ) | | — |
| | (553 | ) | | — |
| | — |
| | (553 | ) | Other liabilities | (22 | ) | | — |
| | (22 | ) | | — |
| | — |
| | (22 | ) | Fair value of derivative liabilities | $ | (89,176 | ) | | $ | — |
| | $ | (89,176 | ) | | $ | 4,831 |
| | $ | — |
| | $ | (84,345 | ) |
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| Summary of Realized and Unrealized (Losses) and Gains on Derivative Instruments for Commodity Risk Management |
The following table presents total realized and unrealized gains and (losses) on derivative instruments utilized for commodity risk management purposes for the years ended December 31, 2015, 2014 and 2013. Such amounts are included in cost of products sold (exclusive of depreciation and amortization): | | | | | | | | | | | | | | 2015 | | 2014 | | 2013 | Refined products contracts | $ | 149,741 |
| | $ | 159,751 |
| | $ | (320 | ) | Natural gas contracts | 19,824 |
| | 30,372 |
| | (76,707 | ) | Total | $ | 169,565 |
| | $ | 190,123 |
| | $ | (77,027 | ) |
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| Gross Volume of Commodity Derivative Instruments |
The following table presents the gross volume of commodity derivative instruments outstanding as of December 31, 2015 and 2014: | | | | | | | | | | As of December 31, 2015 | | As of December 31, 2014 | | Refined Products (Barrels) | | Natural Gas (MMBTUs) | | Refined Products (Barrels) | | Natural Gas (MMBTUs) | Long contracts | 12,067 | | 123,711 | | 10,823 | | 131,376 | Short contracts | (16,558) | | (75,785) | | (15,434) | | (82,796) |
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| Schedule of Interest Rate Swaps Notional Amount |
The Partnership's interest rate swap agreements outstanding as of December 31, 2015 were as follows: | | | | | | | | Interest Rate Swap Agreements | Beginning | | Ending | | Notional Amount | January 2016 | | January 2017 | | $ | 250,000 |
| September 2016 | | April 2017 | | $ | 25,000 |
| January 2017 | | January 2018 | | $ | 100,000 |
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