Annual report pursuant to Section 13 and 15(d)

Inventories

v3.6.0.2
Inventories
12 Months Ended
Dec. 31, 2016
Inventory Disclosure [Abstract]  
Inventory Disclosure
Inventories
Carrying value of inventories consisted of the following:
 
As of December 31,
 
2016
 
2015
Crude oil, refined products, asphalt and blendstocks
$
57,021

 
$
42,123

Crude oil consignment inventory (Note 10)
11,708

 
2,928

Materials and supplies
27,826

 
26,940

Store merchandise
26,752

 
28,475

Store fuel
7,195

 
5,049

Total inventories
$
130,502

 
$
105,515


Reductions of inventory volumes during 2016 and 2015 resulted in a liquidation of LIFO inventory layers. There was no material cost of sales impact related to the 2016 liquidation of LIFO inventory layers, and the 2015 liquidation increased cost of sales by $11,371. There were no liquidations of LIFO inventory layers during 2014.
At December 31, 2016, the market value of our refined products, asphalt and blendstock inventories exceeded LIFO costs by $4,390. At December 31, 2015, the market value of our refined products, asphalt and blendstock inventories was lower than LIFO costs by $836. The market value of our crude oil inventories exceeded LIFO costs, net of the fair value hedged items, by $13,154 and $18,521 at December 31, 2016 and 2015, respectively.