Company: DK
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001694426-25-000060
Chunk: 91

Company: Delek US Holdings, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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 the estimated annual tax rate may distort the interim income tax provision due to significant permanent differences. In such cases, the interim income tax provision is based on the year-to-date effective tax rate, adjusting for permanent differences proportionally. In the three months ended March 31, 2025, income taxes were calculated based on the estimated annual effective tax rate. In the three months ended March 31, 2024, income taxes were calculated based on the year-to-date effective tax rate as a proxy for the estimated annual effective tax rate. Our effective tax rate for continuing operations was 18.9% and 21.1% for the three months ended March 31, 2025 and 2024, respectively. The difference between the effective tax rate and the statutory rate is generally attributable to permanent differences and discrete items. The change in our effective tax rate for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024 was primarily due to a decrease in quarter-to-date pre-tax earnings, the impact of fixed dollar favorable permanent adjustments, and changes in valuation allowances on the quarter. 

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Notes to Condensed Consolidated Financial Statements (unaudited)

15. Related Party Transactions

Our related party transactions consist primarily of transactions with our equity method investees (See Note 7). Transactions with our related parties were as follows for the periods presented (in millions):Three Months Ended March 31,20252024Revenues (1)$21.1 $22.0 Cost of materials and other (2)$43.7 $57.8 (1)Consists primarily of asphalt sales which are recorded in the refining segment.(2)Consists primarily of pipeline throughput fees paid by the refining segment and asphalt purchases.

16. Other Current Assets and Liabilities

The detail of other current assets is as follows (in millions):Other Current AssetsMarch 31, 2025December 31, 2024Prepaid expenses$73.4 $69.2 Short-term derivative assets (see Note 11)4.1 8.8 Income and other tax receivables5.1 6.7 Other7.2 0.8 Total$89.8 $85.5 The detail of accrued expenses and other current liabilities is as follows (in millions):Accrued Expenses and Other Current LiabilitiesMarch 31, 2025December 31, 2024Product financing