Company: DK
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001694426-25-000060
Chunk: 181

Company: Delek US Holdings, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 181
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 any of our derivative contracts.The following table presents the fair value of our derivative instruments as of March 31, 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)

March 31, 2025December 31, 2024Derivative TypeBalance Sheet LocationAssetsLiabilitiesAssetsLiabilitiesDerivatives not designated as hedging instruments:Commodity derivatives (1)Other current assets$24.1 $(24.7)$19.5 $(22.0)Commodity derivatives (1)Other current liabilities— — 5.4 (5.4)Commodity derivatives (1)Other long-term liabilities0.1 (0.6)— — RINs commitment contracts (2)Other current assets1.3 — 0.3 — RINs commitment contracts (2)Other current liabilities— (0.1)— (5.6)Interest rate swap derivativesOther current assets2.7 — 3.5 — Interest rate swap derivativesOther long-term liabilities0.4 (3.3)4.8 (5.1)Total gross fair value of derivatives28.6 (28.7)33.5 (38.1)Less: Counterparty netting and cash collateral (3)24.0 (24.8)19.9 (27.4)Total net fair value of derivatives$4.6 $(3.9)$13.6 $(10.7)(1)As of March 31, 2025 and December 31, 2024, we had open derivative positions representing 21,438,450 and 18,471,700 barrels, respectively, of crude oil and refined petroleum products.  Additionally, as of March 31, 2025, we had no open derivative positions representing natural gas products. We had