Company: DK
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001694426-25-000060
Chunk: 170

Company: Delek US Holdings, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 170
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 Lease receivable - affiliate21.1 22.8 Inventory8.6 5.4 Other current assets1.5 24.2 Property, plant and equipment, net1,322.0 1,064.3 Equity method investments 317.5 317.2 Operating lease right-of-use assets17.1 16.7 Goodwill12.2 12.2 Intangible assets, net363.6 281.5 Net lease investment - affiliate189.7 193.1 Other non-current assets16.5 10.8 Total assets$2,395.5 $2,041.6 LIABILITIES AND EQUITYAccounts payable$59.9 $41.4 Current portion of operating lease liabilities5.5 5.3 Accrued expenses and other current liabilities32.0 42.1 Long-term debt, net of current portion2,145.7 1,875.4 Asset retirement obligations23.3 15.6 Operating lease liabilities, net of current portion6.2 6.0 Other non-current liabilities25.5 20.3 Equity97.4 35.5 Total liabilities and equity$2,395.5 $2,041.6 

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Notes to Condensed Consolidated Financial Statements (unaudited)

7.  Equity Method Investments 

Delek Logistics InvestmentsDelek Logistics has a 50% investment in HoldCo which includes a 15.6% indirect interest in the WWP joint venture and related joint venture indebtedness. HoldCo was originally formed by Delek and MPLX Operations LLC ("MPLX") to obtain financing and fund capital calls associated with our collective and contributed interests in the WWP joint venture. We had previously determined that HoldCo is a VIE. While we have the ability to exert significant influence through participation in board and management committees, we are not the primary beneficiary since we do not have a controlling financial interest in HoldCo, and no single party has the power to direct the activities that most significantly impact HoldCo's economic performance. Distributions received from WWP are first applied to service the debt of HoldCo's wholly owned finance LLC, with excess distributions made to the HoldCo members as provided for in the W2W Holdings LLC Agreement and as allowed for under its debt agreements. The obligations of the HoldCo members under the W