Company: DK
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001694426-25-000013
Chunk: 304

Company: Delek US Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 15
Chunk 304
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9 Employer contribution0.1 — Benefits paid(6.0)(5.9)Other (effect of curtailment/settlement)(0.1)— Fair value of plan assets at end of year$97.5 $104.2 Reconciliation of funded status:Fair value of plan assets at end of year$97.5 $104.2 Less projected benefit obligations at end of year98.9 106.7 Under-funded status at end of year$(1.4)$(2.5)

F-53 |

The pre-tax amounts in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost were as follows (in millions):Year Ended December 31,20242023Net actuarial loss$5.3 $6.0 Projected benefit obligations at end of year$5.3 $6.0 The accumulated benefit obligation for each of our pension plans was in excess of the fair value of plan assets. The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for the pension plans were as follows (in millions):Year Ended December 31,20242023Projected benefit obligation$98.9 $106.7 Accumulated benefit obligation$98.9 $106.7 Fair value of plan assets$97.5 $104.2 The weighted-average assumptions used to determine benefit obligations were as follows:Year Ended December 31,20242023Discount rate5.50 %4.90 %The discount rate used reflects the expected future cash flow based on our funding valuation assumptions and participant data as of the beginning of the plan period. The expected future cash flow is discounted by the Principal Pension Discount Yield Curve for the fiscal year end because it has been specifically designed to help pension funds comply with statutory funding guidelines. The expected long-term rate of return is based on the portfolio as a whole and not on the sum of the returns on individual asset categories. The weighted-average assumptions used to determine net periodic benefit costs were as follows:Year Ended December 31,202420232022Discount rate4.90 %5.10 %2.75 %Expected long-term rate of return on plan assets5.25 %5.55 %4.05 %The components of net periodic benefit cost related to our benefit plans consisted of the following (in millions):Year Ended December 31,Components of net periodic benefit:202420232