Company: DK
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001694426-25-000060
Chunk: 74

Company: Delek US Holdings, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 74
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 March 31, 2025 and December 31, 2024, Delek Logistics' investment balance in these joint ventures was $92.3 million and $94.6 million, respectively.Other Investments

In addition to our pipeline joint ventures, we also have a 50% interest in a joint venture that owns asphalt terminals located in the southwestern region of the U.S., as well as a 50% interest in a joint venture that owns, operates and maintains a terminal consisting of an ethanol unit train facility with an ethanol tank in Arkansas.  As of March 31, 2025 and December 31, 2024, Delek's investment balance in these joint ventures was $79.3 million and $75.7 million, respectively. These investments are included in Refining in our segment disclosure. 

8. Inventory

Crude oil feedstocks, refined products, blendstocks and asphalt inventory for all of our operations are stated at the lower of cost determined using the first-in, first-out ("FIFO") basis or net realizable value. The following table presents the components of inventory for each period presented (in millions):Titled InventoryInventory Intermediation Agreement (1)TotalMarch 31, 2025Feedstocks, raw materials and supplies$220.6 $129.3 $349.9 Refined products and blendstock230.3 272.3 502.6 Total$450.9 $401.6 $852.5 December 31, 2024Feedstocks, raw materials and supplies$246.5 $131.5 $378.0 Refined products and blendstock243.4 271.8 515.2 Total$489.9 $403.3 $893.2 (1) Refer to  Note 9 - Inventory Intermediation Obligations for further information.At March 31, 2025, we recorded a pre-tax inventory valuation reserve of $1.1 million due to a market price decline below our cost of certain inventory products.  At December 31, 2024, we recorded a pre-tax inventory valuation reserve of $0.9 million.  For the three months ended March 31, 2025 and 2024, we recognized a net (increase) reduction in cost of materials and other in the accompanying condensed consolidated statements of income related to the change in pre-tax inventory valuation of $(0.2) million and $8