Company: DK
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001694426-25-000060
Chunk: 84

Company: Delek US Holdings, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 84
---
 commitment contracts (2)Other current assets1.3 — 0.3 — RINs commitment contracts (2)Other current liabilities— (0.1)— (5.6)Interest rate swap derivativesOther current assets2.7 — 3.5 — Interest rate swap derivativesOther long-term liabilities0.4 (3.3)4.8 (5.1)Total gross fair value of derivatives28.6 (28.7)33.5 (38.1)Less: Counterparty netting and cash collateral (3)24.0 (24.8)19.9 (27.4)Total net fair value of derivatives$4.6 $(3.9)$13.6 $(10.7)(1)As of March 31, 2025 and December 31, 2024, we had open derivative positions representing 21,438,450 and 18,471,700 barrels, respectively, of crude oil and refined petroleum products.  Additionally, as of March 31, 2025, we had no open derivative positions representing natural gas products. We had 1,495,000 open derivative positions of natural gas products as of December 31, 2024.(2)As of March 31, 2025 and December 31, 2024, we had open RINs commitment contracts representing 28,815,458 and 36,000,000 RINs, respectively. (3)As of March 31, 2025 and December 31, 2024, $0.8 million and $7.5 million, respectively, of cash collateral held by counterparties has been netted with the derivatives with each counterparty. Total gains (losses) on our non-trading commodity derivatives and RINs commitment contracts recorded in the condensed consolidated statements of income are as follows (in millions) (3):Three Months Ended March 31,20252024Gains (losses) on hedging derivatives not designated as hedging instruments recognized in cost of materials and other (1)$15.3 $(21.7)Losses on interest rate derivatives not designated as hedging instruments recognized in interest expense, net (2)(2.2)— Total gains (losses)$13.1 $(21.7)(1) Gains (losses) on commodity derivatives that are economic hedges but not designated