v3.26.1
Inventories (Tables)
 6 Months Ended
Jun. 30, 2026
Inventory Disclosure [Abstract]  
Schedule of Inventories
Inventories at June 30, 2026, and December 31, 2025, consisted of the following (in thousands):
Titled Inventory
Inventory Financing Agreements (1)
Total
June 30, 2026
Crude oil and feedstocks$215,048 $114,693 $329,741 
Refined products and blendstock646,970 — 646,970 
Warehouse stock and other (2)464,445 — 464,445 
Total$1,326,463 $114,693 $1,441,156 
December 31, 2025
Crude oil and feedstocks$144,363 $125,077 $269,440 
Refined products and blendstock413,066 — 413,066 
Warehouse stock and other (2)546,281 — 546,281 
Total$1,103,710 $125,077 $1,228,787 
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(1)Please read “Note 9—Inventory Financing Agreements” for further information.
(2)Includes $364.9 million and $450.7 million of Renewable Identification Numbers (“RINs”) and environmental credits, reported at the lower of cost or net realizable value, as of June 30, 2026, and December 31, 2025, respectively. Our renewable volume obligation and other gross environmental credit obligations of $376.6 million and $380.4 million are included in Other accrued liabilities on our condensed consolidated balance sheets as of June 30, 2026, and December 31, 2025, respectively.