Company: DK
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001694426-25-000112
Chunk: 190

Company: Delek US Holdings, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 190
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 requirements of ASC 205-20 and ASC 360, to report the results of the Retail Stores as discontinued operations and to classify the Retail Stores as a group of discontinued operations assets. The fair value assessment of the Retail Stores as of July 31, 2024, did not result in an impairment. We ceased depreciation of these assets as of July 31, 2024. The Retail Transaction closed on September 30, 2024. 

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Notes to Condensed Consolidated Financial Statements (unaudited)

Once the Retail Stores were identified as assets held for sale, the operations associated with these properties qualified for reporting as discontinued operations. Accordingly, the operating results, net of tax, from discontinued operations are presented separately in Delek’s condensed consolidated statements of income and the notes to the condensed consolidated financial statements have been adjusted to exclude the discontinued operations. Components of amounts reflected in income from discontinued operations are as follows (in millions):Three Months Ended June 30,Six Months Ended June 30,2025202420252024Net revenues$— $216.1 $— $409.6 Cost of material and other— (176.4)0.5 (334.7)Operating expenses— (25.4)— (50.1)General and administrative expenses(0.4)(2.9)(1.2)(6.3)Depreciation and amortization— (3.7)— (7.2)Other operating loss, net(0.6)1.2 (0.7)1.1 Interest (expense) income, net— (0.1)— (0.1)Other income, net— — — 0.1 (Loss) income from discontinued operations before taxes(1.0)8.8 (1.4)12.4 Income tax (benefit) expense(0.2)1.1 (0.3)1.5 (Loss) income from discontinued operations, net of tax$(0.8)$7.7 $(1.1)$10.9 

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Notes to Condensed Consolidated Financial Statements (unaudited)

5. Earnings (Loss) Per Share

Basic earnings (loss) per share (or "EPS") is computed by dividing net income (loss) by the weighted average common shares outstanding. Diluted earnings (loss) per share is computed by dividing net income