Company: DK
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050541
Chunk: 41

Company: Delek US Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 as of September 30, 2025, and December 31, 2024. The fair value amounts below are presented on a gross basis and do not reflect the netting of asset and liability positions permitted under our master netting arrangements, including cash collateral on deposit with our counterparties. We have elected to offset the recognized fair value amounts for multiple derivative instruments executed with the same counterparty in our financial statements. As a result, the asset and liability amounts below differ from the amounts presented in our condensed consolidated balance sheets. See Note 12 for further information regarding the fair value of derivative instruments (in millions).

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Notes to Condensed Consolidated Financial Statements (unaudited)

September 30, 2025December 31, 2024Derivative TypeBalance Sheet LocationAssetsLiabilitiesAssetsLiabilitiesDerivatives not designated as hedging instruments:Commodity derivatives (1)Other current assets$17.8 $(18.9)$19.5 $(22.0)Commodity derivatives (1)Other current liabilities— — 5.4 (5.4)Commodity derivatives (1)Other long-term liabilities0.1 (0.5)— — RINs commitment contracts (2)Other current assets52.7 — 0.3 — RINs commitment contracts (2)Other current liabilities— (39.1)— (5.6)Interest rate swap derivativesOther current assets1.4 — 3.5 — Interest rate swap derivativesOther long-term liabilities— (3.4)4.8 (5.1)Total gross fair value of derivatives72.0 (61.9)33.5 (38.1)Less: Counterparty netting and cash collateral (3)11.1 (19.1)19.9 (27.4)Total net fair value of derivatives$60.9 $(42.8)$13.6 $(10.7)(1)As of September 30, 2025, and December 31, 2024, we had open derivative positions representing 16,887,000 and 18,471,700 barrels, respectively, of crude oil and refined petroleum products.  Additionally, as of September 30, 2025, we had no open derivative positions representing natural gas products. We had 1,495,000 open derivative positions of natural gas products as of December