Company: DK
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050541
Chunk: 142

Company: Delek US Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 142
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 30, 2025, compared to $77.4 million for the nine months ended September 30, 2024, a decrease of $10.7 million. This decrease was primarily driven by the following:

•a decrease in income from our investment in Red River Pipeline Company LLC to $8.3 million during the nine months ended September 30, 2025 from $16.6 million in the nine months ended September 30, 2024.

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Management's Discussion and Analysis

Other Expense (Income), net

Q3 2025 vs. Q3 2024

Other income, net increased by $0.7 million, or 140.0%, to $1.2 million in the third quarter of 2025 compared to $0.5 million in the third quarter of 2024. 

YTD 2025 vs. YTD 2024

Other expense (income), net was $3.4 million of expense in the nine months ended September 30, 2025, compared to $1.1 million of income for nine months ended September 30, 2024, an increase of $4.5 million, or 409.1% primarily due to the following: 

•an impairment recognized on two investments held at cost within other non-current assets for $8.6 million.

Refer to Note 12 condensed consolidated financial statements in Item 1. Financial Statements, of this Quarterly Report on Form 10-Q for further information.

Income Taxes 

Q3 2025 vs. Q3 2024

For the third quarter of 2025, we recorded an income tax expense of $39.9 million from continuing operations compared to an income tax benefit of $40.3 million from continuing operations for the third quarter of 2024, primarily driven by the following:

•an increase  in pre-tax net income of $410.1 million; and

•our effective tax rates were 17.0% and 23.0% for the three months ended September 30, 2025 and 2024, respectively, due to the impact of fixed dollar permanent differences on the tax rate and changes to valuation allowances on certain attributes.

YTD 2025 vs. YTD 2024

For the nine months ended September 30, 2025, we recorded an income tax benefit of $11.0 million from continuing operations compared to an income tax benefit of $56.7 million from continuing operations for