Company: DK
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001694426-25-000013
Chunk: 47

Company: Delek US Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 47
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 Ended December 31, 2024 versus the Year Ended December 31, 2023 and the Year Ended December 31, 2023 versus the Year Ended December 31, 2022

Revenues

2024 vs. 2023

Revenues for the refining segment decreased $4,623.9 million, or 28.2%, in the year ended December 31, 2024 compared to the year ended December 31, 2023. The decrease was primarily driven by the following:

•a decrease in the average price of U.S. Gulf Coast gasoline of 9.0% and ULSD of 13.2%;

•a decrease in wholesale activity; and

•a decrease in sales volumes (including purchased products).

These decreases were partially offset by the following:

•an increase in the average price of U.S. Gulf Coast HSD of 7.0%.

Revenues included sales to our logistics segment of $353.5 million and $396.3 million for the year ended December 31, 2024 and 2023, respectively. We eliminate this intercompany revenue in consolidation. 

2023 vs. 2022

Revenues for the refining segment decreased $3,356.1 million, or 17.0%, in the year ended December 31, 2023 compared to the year ended December 31, 2022. The decrease was primarily driven by the following:

•a decrease in the average price of U.S. Gulf Coast gasoline of 15.5%, ULSD of 21.4%, and HSD of 36.2%;

•a decrease in wholesale activity; and

•a decrease in sales volumes (including purchased products).

Revenues included sales to our logistics segment of $396.3 million and $496.6 million and sales to our other segment of $0.0 million and $23.8 million for the years ended December 31, 2023 and 2022, respectively.  We eliminate this intercompany revenue in consolidation.

Cost of Materials and Other

2024 vs. 2023

Cost of materials and other decreased $4,094.9 million, or 26.9%, in the year ended December 31, 2024 compared to the year ended December 31, 2023. This decrease was primarily driven by the following: 

•decreases in the cost of WTI Cushing crude oil, from an average