Company: DK
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001694426-25-000112
Chunk: 15

Company: Delek US Holdings, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 borrowings under the Delek Logistics' Credit Facility (as defined in Note 10).For the three and six months ended June 30, 2025, we incurred $0.3 million and $0.4 million, respectively, in incremental direct acquisition and integration costs that principally consist of legal, advisory and other professional fees. Such costs are included in general and administrative expenses in the accompanying condensed consolidated statements of income.Our results of operations included revenue and net income of $15.3 million and $6.4 million, respectively, for the three months ended June 30, 2025, and $31.8 million and $13.5 million, respectively, for the six months ended June 30, 2025, related to these operations.This acquisition was accounted for using the acquisition method of accounting, whereby the purchase price is measured at acquisition date fair value of assets acquired and liabilities assumed. Determination of Purchase Price The table below represents the estimated purchase price (in millions): Base purchase price:$230.0 Less: Adjusted Net Working Capital (as defined in the H2O Purchase Agreement)(2.6)Plus: Various closing adjustments2.3 Adjusted purchase price$229.7 Cash paid159.7 Fair value of Preferred Units issued70.0 Preliminary purchase price$229.7 

12 |

Notes to Condensed Consolidated Financial Statements (unaudited)

Purchase Price Allocation The following table summarizes the preliminary fair values of assets acquired and liabilities assumed in the H2O Midstream Acquisition as of September 11, 2024 (in millions):Assets acquired:Accounts receivables$6.7 Inventories2.4 Other current assets0.9 Property, plant and equipment172.3 Operating lease right-of-use assets2.1 Other intangibles (1)59.5 Total assets acquired243.9 Liabilities assumed:Accounts payable1.8 Accrued expenses and other current liabilities7.0 Current portion of operating lease liabilities0.3 Asset retirement obligations4.9 Operating lease liabilities, net of current portion0.2 Total liabilities assumed14.2 Fair value of net assets acquired$229.7 (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 $26.3 million, which will be amortized over a 13.4 years