Company: DK
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001694426-25-000060
Chunk: 30

Company: Delek US Holdings, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 30
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 result of reclassification of certain fees with Delek Logistics from lease expense to interest expense under finance lease accounting. These finance leases have no impact to the Delek US consolidated results as these amounts eliminate in consolidation.

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Management's Discussion and Analysis

EBITDA

EBITDA decreased by $121.3 million, for the three months ended March 31, 2025 compared to the three months ended March 31, 2024, primarily due to a decrease in refining margin driven by decreased crack spreads.

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Management's Discussion and Analysis

Logistics Segment

The table below sets forth certain information concerning our logistics segment operations ($ in millions, except per barrel amounts):

Selected Logistics Financial and Operating InformationThree Months Ended March 31,20252024Revenues$249.9 $252.1 Cost of materials and other$129.1 $123.7 Operating expenses (excluding depreciation and amortization)$40.9 $31.9 EBITDA$85.5 $99.7 Operating Information:Gathering & Processing: (average bpd)Lion Pipeline System:Crude pipelines (non-gathered)61,888 73,011 Refined products pipelines56,010 63,234 SALA Gathering System10,321 12,987East Texas Crude Logistics System26,918 19,702Midland Gathering Assets246,090 213,458Plains Connection System179,240 256,844 Delaware Gathering Assets:Natural gas gathering and processing (Mcfd) (1)59,809 76,322 Crude oil gathering (average bpd)122,226 123,509 Water disposal and recycling (average bpd)128,499 129,264 Midland Water Gathering System: Water disposal and recycling (average bpd)632,972 — Wholesale Marketing & Terminalling:East Texas - Tyler refinery sales volumes (average bpd) (2) 67,876 66,475 Big Spring wholesale marketing throughputs (average bpd)— 76,615 West Texas wholesale marketing throughputs (average bpd)10,826 9,976 West Texas wholesale marketing margin per barrel$1.64 $2.15 Terminalling throughputs (average bpd) (3)135,404 136,614 

(1)     Mcfd - average thousand cubic feet per day.

(2)