Company: DK
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001694426-25-000013
Chunk: 288

Company: Delek US Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 15
Chunk 288
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Deferred revenues15.7 18.7 Lease obligation27.7 37.7 Reserves and accruals10.5 34.7 Derivatives and hedging0.8 1.4 Inventories1.0 2.7 Other(3.8)— Total deferred tax assets321.0 314.9 Valuation allowance(86.5)(83.3)Total net deferred tax liabilities $(214.8)$(264.1)The difference between the actual income tax expense and the tax expense computed by applying the statutory federal income tax rate to income was attributable to the following (in millions): Year Ended December 31,202420232022Provision (benefit) for federal income taxes at statutory rate$(148.2)$3.5 $67.6 State income tax benefit, net of federal tax provision(3.9)(3.9)(15.7)Income tax benefit attributable to non-controlling interest(8.6)(6.4)(7.2)Tax credits and incentives (1)(4.7)(9.6)(6.9)Non-deductible goodwill44.6 — — Changes in valuation allowance3.2 10.3 14.0 Revaluation related to state legislative changes0.7 (2.5)— Impact of stock compensation2.5 1.6 0.9 Impact of officer's compensation1.7 3.2 3.2 Other items4.8 0.8 0.5 Income tax expense (benefit)$(107.9)$(3.0)$56.4 (1)     Tax credits and incentives include work opportunity and research and development credits, as well as incentives for the Company’s biodiesel blending operations. Income tax expense (benefit) was as follows (in millions): Year Ended December 31,202420232022Current$(4.3)$(1.4)$(5.2)Deferred(103.6)(1.6)61.6 $(107.9)$(3.0)$56.4 We carry valuation allowances against certain state deferred tax assets and net operating losses that may not be recoverable with future taxable income. We also carry valuation allowances related to basis differences that may not be recoverable. During the years ended December 

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