Company: DK
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001694426-25-000013
Chunk: 256

Company: Delek US Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 15
Chunk 256
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 assessment of the Retail Stores as of July 31, 2024 did not result in an impairment. We ceased depreciation of these assets as of July 31, 2024. The Retail Transaction closed on September 30, 2024 and we received total cash consideration of $390.2 million including the purchase of inventory and other customary adjustments under the Retail Purchase Agreement for indebtedness. The Retail Transaction resulted in a gain on sale of the Retail Stores, before income tax, of $97.5 million.The proceeds and related Retail Transaction sale gain may be adjusted in future periods based on provisions of the Retail Purchase Agreement that allow for adjustments of working capital amounts and other miscellaneous items subsequent to transaction closing date of September 30, 2024.The Retail Transaction includes a long-term agreement whereby Delek will sell to FEMSA certain motor fuel products for use at the Retail Stores. Pursuant to such agreement, FEMSA is provided with a cost sharing arrangement. The cost sharing arrangement resulted in a $36.0 million obligation. The associated obligation bears interest and must be fully exhausted after six years from the close of the sale. The carrying amount of the major classes of assets and liabilities of the Retail Stores included in assets and liabilities of discontinued operations are as follows (in millions):December 31, 2023Assets of discontinued operations:Cash and cash equivalents$0.4 Inventories40.7 Other current assets0.4 Property, plant and equipment, net148.9 Operating lease right-of-use assets26.7 Goodwill41.9 Other intangibles, net8.5 Other non-current assets2.1 Assets of discontinued operations$269.6 Liabilities of discontinued operations:Accrued expenses and other current liabilities$6.9 Current portion of operating lease liabilities4.6 Asset retirement obligations6.9 Operating lease liabilities, net of current portion25.5 Other non-current liabilities1.9 Liabilities of discontinued operations$45.8 Once the Retail Stores were identified as assets held for sale, the operations associated with these properties qualified for reporting as discontinued operations. Accordingly, the operating results, net of tax, from discontinued operations are presented separately in Delek’s consolidated statements of income and the notes to the consolidated financial statements have been adjusted to exclude the discontinued operations. Components of amounts reflected in income from discontinued operations are as follows (in millions):

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Year EndedDecember 31, 2024December