Company: DK
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050541
Chunk: 220

Company: Delek US Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 220
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1)Less: Counterparty netting and cash collateral (3)11.1 (19.1)19.9 (27.4)Total net fair value of derivatives$60.9 $(42.8)$13.6 $(10.7)(1)As of September 30, 2025, and December 31, 2024, we had open derivative positions representing 16,887,000 and 18,471,700 barrels, respectively, of crude oil and refined petroleum products.  Additionally, as of September 30, 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 September 30, 2025, and December 31, 2024, we had open RINs commitment contracts representing 862,100,000 and 36,000,000 RINs, respectively. (3)As of September 30, 2025, and December 31, 2024, $8.0 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 September 30,Nine Months Ended September 30,2025202420252024Gains on hedging derivatives not designated as hedging instruments recognized in cost of materials and other (1)$18.8 $34.3 $30.8 $5.1 Gains (losses) on interest rate derivatives not designated as hedging instruments recognized in interest expense, net (2)0.5 (4.1)(2.3)(4.1)Total gains (losses)$19.3 30.2 $28.5 $1.0 (1) Gains (losses) on commodity derivatives that are economic hedges but not designated as hedging instruments include unrealized (losses) of $5.8 million and $1.1 million for the  three and nine months ended September 30, 2025, respectively, and  $8.0 million and $(1.3) million for the three and  nine months ended September