Company: DK
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050541
Chunk: 219

Company: Delek US Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 219
---
 related underlying transactions are reflected. From time to time, we also enter into future commitments to purchase or sell RINs at fixed prices and quantities, which are used to manage the costs associated with our RINs Obligation. These future RINs commitment contracts meet the definition of derivative instruments under ASC 815 and are recorded at estimated fair value in accordance with the provisions of ASC 815. Changes in the fair value of these future RINs commitment contracts are recorded in cost of materials and other on the condensed consolidated statements of income. As of September 30, 2025, we do not believe there is any material credit risk with respect to the counterparties to any of our derivative contracts.The following table presents the fair value of our derivative instruments as of September 30, 2025, and December 31, 2024. The fair value amounts below are presented on a gross basis and do not reflect the netting of asset and liability positions permitted under our master netting arrangements, including cash collateral on deposit with our counterparties. We have elected to offset the recognized fair value amounts for multiple derivative instruments executed with the same counterparty in our financial statements. As a result, the asset and liability amounts below differ from the amounts presented in our condensed consolidated balance sheets. See Note 12 for further information regarding the fair value of derivative instruments (in millions).

27 |

Notes to Condensed Consolidated Financial Statements (unaudited)

September 30, 2025December 31, 2024Derivative TypeBalance Sheet LocationAssetsLiabilitiesAssetsLiabilitiesDerivatives not designated as hedging instruments:Commodity derivatives (1)Other current assets$17.8 $(18.9)$19.5 $(22.0)Commodity derivatives (1)Other current liabilities— — 5.4 (5.4)Commodity derivatives (1)Other long-term liabilities0.1 (0.5)— — RINs commitment contracts (2)Other current assets52.7 — 0.3 — RINs commitment contracts (2)Other current liabilities— (39.1)— (5.6)Interest rate swap derivativesOther current assets1.4 — 3.5 — Interest rate swap derivativesOther long-term liabilities— (3.4)4.8 (5.1)Total gross fair value of derivatives72.0 (61.9)33.5 (38.