Quarterly report pursuant to Section 13 or 15(d)

4. Derivatives (Tables)

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4. Derivatives (Tables)
 6 Months Ended
Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivatives Not Designated as Hedging Instruments

Non Designated Derivative Instruments – The classification and amounts of the Company’s derivatives not designated as hedging instruments are as follows (in thousands):

 

    As of June 30, 2017  
    Assets     Liabilities  
Type of Instrument   Balance Sheet Location   Fair
Value 		    Balance Sheet Location   Fair
Value 		 
Commodity contracts   Derivative instruments   $ 1,150     Derivative instruments   $ 1,721  
                         

 

 

    As of December 31, 2016  
    Assets     Liabilities  
Type of Instrument   Balance Sheet Location   Fair
Value 		    Balance Sheet Location   Fair
Value 		 
Commodity contracts   Derivative instruments   $ 978     Derivative instruments   $ 4,115  
Schedule of Recognized Gains (Losses) for Derivatives

The classification and amounts of the Company’s recognized gains (losses) for its derivatives not designated as hedging instruments are as follows (in thousands):

 

        Realized Losses  
        Three Months Ended June 30,  
Type of Instrument   Statements of Operations Location   2017     2016  
Commodity contracts   Cost of goods sold   $ (574 )   $ (999 )
                     

 

 

        Unrealized Gains  
        Three Months Ended June 30,  
Type of Instrument   Statements of Operations Location   2017     2016  
Commodity contracts   Cost of goods sold   $ 6     $ 1,227  
                     

 

 

        Realized Losses  
        Six Months Ended June 30,  
Type of Instrument   Statements of Operations Location   2017     2016  
Commodity contracts   Cost of goods sold   $ (2,918 )   $ (91 )
                     

 

        Unrealized Gains  
        Six Months Ended June 30,  
Type of Instrument   Statements of Operations Location   2017     2016  
Commodity contracts   Cost of goods sold   $ 2,566     $ 900