Company: DK
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001694426-25-000060
Chunk: 182

Company: Delek US Holdings, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 182
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1,495,000 open derivative positions of natural gas products as of December 31, 2024.(2)As of March 31, 2025 and December 31, 2024, we had open RINs commitment contracts representing 28,815,458 and 36,000,000 RINs, respectively. (3)As of March 31, 2025 and December 31, 2024, $0.8 million and $7.5 million, respectively, of cash collateral held by counterparties has been netted with the derivatives with each counterparty. Total gains (losses) on our non-trading commodity derivatives and RINs commitment contracts recorded in the condensed consolidated statements of income are as follows (in millions) (3):Three Months Ended March 31,20252024Gains (losses) on hedging derivatives not designated as hedging instruments recognized in cost of materials and other (1)$15.3 $(21.7)Losses on interest rate derivatives not designated as hedging instruments recognized in interest expense, net (2)(2.2)— Total gains (losses)$13.1 $(21.7)(1) Gains (losses) on commodity derivatives that are economic hedges but not designated as hedging instruments include unrealized gains of $1.6 million and losses of $(9.0) million for the three months ended March 31, 2025 and 2024, respectively.(2) Losses on interest rate derivatives that are economic hedges but not designated as hedging instruments include unrealized losses of $(3.4) million for the three months ended March 31, 2025. There were no unrealized gains (losses) on interest rate derivatives that are economic hedges, but not designated as hedging instruments for the three months ended March 31, 2024.(3)    See separate table below for disclosures about "trading derivatives".Total gains (losses) on our trading derivatives (none of which were designated as hedging instruments) recorded in other operating income, net on the condensed consolidated statements of income are as follows (in millions): Three Months Ended March 31,20252024Trading Physical Forward Contract Commodity DerivativesRealized gains$— $0.2 Unrealized gains (losses)— — Total$— $0.2 

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Notes to Condensed Consolidated Financial