Company: DK
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001694426-25-000060
Chunk: 35

Company: Delek US Holdings, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 35
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-leasebacks or joint ventures, as otherwise contemplated and allowed under our incurrence covenants.

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Management's Discussion and Analysis

Cash Flows 

The following table sets forth a summary of our consolidated cash flows (in millions):

Consolidated Three Months Ended March 31, 20252024Cash Flow Data:  Operating activities - continuing operations$(62.1)$160.9 Operating activities - discontinued operations(0.3)5.8 Total Operating activities (62.4)166.7 Investing activities - continuing operations(314.6)(32.6)Investing activities - discontinued operations— (9.0)Total Investing activities(314.6)(41.6)Financing activities - continuing operations265.2 (193.9)Financing activities - continuing operations— — Total Financing activities265.2 (193.9)Net decrease$(111.8)$(68.8)

Cash Flows from Operating Activities 

Continuing Operations

Net cash used by operating activities from continuing operations was $62.1 million for the three months ended March 31, 2025, compared to net cash provided by of $160.9 million for the comparable period of 2024. Decreases were a result of cash receipts from customers and cash payments to suppliers and for salaries resulting in a net $198.1 million decrease in cash provided by operating activities and an increase in cash paid for debt interest of $19.1 million.

Cash Flows from Investing Activities

Continuing Operations

Net cash used in investing activities from continuing operations was $314.6 million for the three months ended March 31, 2025, compared to $32.6 million in the comparable period of 2024. The increase in cash flows used in investing activities was primarily due to $300.8 million acquisition of Gravity of which $209.3 million was paid in cash and a $97.4 million increase in purchases of property, plant and equipment.

Cash Flows from Financing Activities

Continuing Operations

Net cash provided by financing activities from continuing operations was $265.2 million for the three months ended March 31, 2025, compared to cash used of $193.9 million in the comparable 2024 period. The decrease in cash used was primarily due to net proceeds on long-term revolvers of $269.7 million for the three months ended March 31, 2025 compared to net payments of $215.3