Company: DK
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050541
Chunk: 192

Company: Delek US Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 192
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5.3 Accounts receivables16.4 Inventories1.8 Other current assets1.7 Property, plant and equipment191.5 Operating lease right-of-use assets0.1 Other intangibles (1)98.2 Other non-current assets0.1 Total assets acquired315.1 Liabilities assumed:Accounts payable2.5 Accrued expenses and other current liabilities5.7 Current portion of operating lease liabilities0.1 Asset retirement obligations6.0 Total liabilities assumed14.3 Fair value of net assets acquired$300.8 (1)The acquired intangible assets amount includes the following identified intangibles:•Customer relationship intangible that is subject to amortization with a preliminary fair value of $66.3 million, which we estimate to be amortized over approximately 32 years.•Rights-of-way intangibles are valued at $31.9 million, the majority of which have an indefinite life.These fair value estimates are preliminary and therefore, the final fair value of assets acquired and liabilities assumed and the resulting effect on our financial position may change once all necessary information has become available and we finalize our valuations. To the extent possible, estimates have been considered and recorded, as appropriate, for the items above based on the information available as of September 30, 2025. We will continue to evaluate these items until they are satisfactorily resolved and adjust our purchase price allocation accordingly, within the allowable measurement period (not to exceed one year from the date of acquisition), as defined by ASC 805, Business Combinations ("ASC 805").The fair value of property, plant and equipment was based on the combination of the cost and market approaches. Key assumptions in the cost approach include determining the replacement cost by evaluating recently published data and adjusting replacement cost for physical deterioration, functional and economic obsolescence. We used the market approach to measure the value of certain assets through an analysis of recent sales or offerings of comparable properties.Customer relationships were valued using the income approach, with essential assumptions including projected revenues from these relationships, attrition rates, operating margins, and discount rates.

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Notes to Condensed Consolidated Financial Statements (unaudited)

The fair values discussed above were based on significant inputs that are not observable in the market and, therefore, represent Level 3 measurements. For all other current assets and payables, their fair values were considered equivalent to their carrying amounts due to their short-term nature.Fair Value Adjust