v3.25.2
DERIVATIVE FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]  
Fair Value Measurements, Recurring and Nonrecurring
The following tables summarize, by level within the fair value hierarchy, our derivative and other assets and liabilities that were accounted for at fair value on a recurring basis at June 30, 2025 and December 31, 2024:

June 30, 2025
Level 1Level 2Netting (c)Total
(Thousands of dollars)
Assets:
United States treasury notes (b)$8,298 $— $— $8,298 
Corporate bonds (b)— 14,022 — 14,022 
Marketable equity securities (d)1,421 — — 1,421 
Total assets$9,719 $14,022 $— $23,741 
Liabilities:
Derivative instruments - swaps (a)$— $2,072 $— $2,072 
(a) The fair value is included in other current assets and other current liabilities in our consolidated balance sheets.
(b) The fair value is included in other current and noncurrent assets in our consolidated balance sheets.
(c) Our over-the-counter natural gas fixed-price swaps are presented on a net basis when the right of offset exists.
(d) The fair value is included in other current assets in our consolidated balance sheets.

December 31, 2024
Level 1Level 2Netting (c)Total
(Thousands of dollars)
Assets:
Derivative instruments - swaps (a)$— $25 $(25)$— 
United States treasury notes (b)8,721 — — 8,721 
Corporate bonds (b)— 13,171 — 13,171 
Total assets$8,721 $13,196 $(25)$21,892 
Liabilities:
Derivative instruments - swaps (a)$— $3,238 $(25)$3,213 
(a) The fair value is included in other current assets and other current liabilities in our consolidated balance sheets.
(b) The fair value is included in other current and noncurrent assets in our consolidated balance sheets.
(c) Our over-the-counter natural gas fixed-price swaps are presented on a net basis when the right of offset exists.