Annual report pursuant to Section 13 and 15(d)

Fair Value (Tables)

v3.6.0.2
Fair Value (Tables)
12 Months Ended
Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table sets forth the assets and liabilities measured at fair value on a recurring basis, by input level, in the consolidated balance sheets as of December 31, 2016 and 2015:
 
Level 1
 
Level 2
 
Level 3
 
Total
As of December 31, 2016
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
Fair value hedges of consigned inventory
$

 
$
14,777

 
$

 
$
14,777

Liabilities:
 
 
 
 
 
 
 
Commodity contracts (futures and forwards)
1,561

 

 

 
1,561

Interest rate swaps

 
1,956

 

 
1,956

 
 
 
 
 
 
 
 
As of December 31, 2015
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
Commodity contracts (swaps)
$

 
$
14,799

 
$

 
$
14,799

Fair value hedges of consigned inventory

 
33,797

 

 
33,797

Liabilities:
 
 
 
 
 
 
 
Commodity contracts (futures and forwards)
592

 

 

 
592

Interest rate swaps

 
2,176

 

 
2,176

Fair Value Measurements, Nonrecurring
The following table sets forth our non-recurring fair value measurements, by input level, in the consolidated balance sheets as of December 31, 2015:
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Total Losses
As of December 31, 2015
 
 
 
 
 
 
 
 
 
Goodwill (1)
$

 
$

 
$
62,885

 
$
62,885

 
$
(39,028
)
_________________
(1)
Goodwill with a carrying amount of $101,913 as of December 31, 2014 was written down to its implied fair value of $62,885, resulting in an impairment charge of $39,028, which has been included in earnings for the year ended December 31, 2015.