Company: DK
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001694426-25-000060
Chunk: 210

Company: Delek US Holdings, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 210
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DA to the most directly comparable U.S. GAAP measure, net (loss) income attributable to Delek:

Reconciliation of segment EBITDA to net (loss) income attributable to Delek (in millions)

 Three Months Ended March 31,20252024Refining segment EBITDA$(16.2)$105.1 Logistics segment EBITDA85.5 99.7 Corporate, Other and Eliminations EBITDA(93.1)(68.8)EBITDA attributable to Delek$(23.8)$136.0 Interest expense, net84.1 87.7 Income tax benefit(36.8)(7.6)Depreciation and amortization101.3 91.7 Loss (income) from discontinued operations, net of tax0.3 (3.2)Net loss attributable to Delek$(172.7)$(32.6)

The following table provides a reconciliation of refining margin to the most directly comparable U.S. GAAP measure, gross margin:

Reconciliation of refining margin to gross margin (in millions)

Refining Segment Three Months Ended March 31,20252024Total revenues$2,608.3 $3,108.3 Cost of sales2,700.9 3,067.1 Gross margin$(92.6)$41.2 Add back (items included in cost of sales): Operating expenses (excluding depreciation and amortization)158.1 165.8 Depreciation and amortization71.9 61.4 Refining margin$137.4 $268.4 

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Management's Discussion and Analysis

Summary Financial and Other Information

The following table provides summary financial data for Delek (in millions):

Summary Statement of Operations Data (1)Three Months Ended March 31,20252024Net revenues$2,641.9 $3,128.0 Cost of sales: Cost of materials and other2,399.5 2,732.9 Operating expenses (excluding depreciation and amortization presented below)211.1 213.8 Depreciation and amortization95.0 86.4 Total cost of sales2,705.6 3,033.1 Operating expenses related to wholesale business (excluding depreciation and amortization presented below)1.3 1.1 General and administrative expenses61.5 61.0 Depreciation and amort