Company: DK
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050541
Chunk: 230

Company: Delek US Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 230
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2025, income taxes were calculated based on the estimated annual effective tax rate versus the year-to-date effective tax rate. In the three and nine months ended September 30, 2024, income taxes were calculated based on the estimated annual tax rate. Our effective tax rate for continuing operations was 17.0% and 17.4% for the three and nine months ended September 30, 2025, respectively, and 23.0% and 22.3% for the three and nine months ended September 30, 2024, respectively. The difference between the effective tax rate and the statutory rate is generally attributable to permanent differences and discrete items. The change in our effective tax rate for the three and nine months ended September 30, 2025 as compared to the three and nine months ended September 30, 2024 was primarily due to an increase in quarter to date pre-tax earnings and the impact of fixed dollar favorable permanent adjustments on the quarter.On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of 100% bonus depreciation, restoration of an EBITDA-based limitation for business interest expense, and immediate expensing of domestic research and experimentation expenditures. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. The Company has evaluated the OBBBA enacted during the quarter and is still estimating its impact on the consolidated financial statements. We will continue to evaluate the full impact of these legislative changes as additional guidance becomes available.

15. Related Party Transactions

Our related party transactions consist primarily of transactions with our equity method investees (See Note 7). Transactions with our related parties were as follows for the periods presented (in millions):Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Revenues (1)$31.5 $37.1 $88.9 $98.6 Cost of materials and other (2)$46.0 $52.3 $132.6 $158.3 (1)Consists primarily of asphalt sales which are recorded in the refining segment.(2)Consists primarily of pipeline throughput fees paid by the refining segment and asphalt purchases.

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Notes to Condensed Consolidated Financial Statements (unaudited)

16. Other Current Assets and Liabilities

The detail of other current