Company: DK
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050541
Chunk: 13

Company: Delek US Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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.8 million, respectively, in incremental direct acquisition and integration costs that principally consist of legal, advisory, and other professional fees. Such costs are included in general and administrative expenses in the accompanying condensed consolidated statements of income and comprehensive income.Our condensed consolidated financial and operating results reflect the Gravity Acquisition operations beginning January 2, 2025. Our results of operations included revenue and net income of $20.7 million and $6.1 million, respectively, for the three months ended September 30, 2025, and $67.5 million and $24.0 million, respectively, for the period from January 2, 2025, through September 30, 2025, related to these operations.This acquisition was accounted for using the acquisition method of accounting, whereby the purchase price is measured at acquisition date fair value of assets acquired and liabilities assumed. 

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Notes to Condensed Consolidated Financial Statements (unaudited)

Determination of Purchase Price The table below presents the estimated purchase price (in millions): Base purchase price:$291.6 Plus: Adjusted Net Working Capital (as defined in the Gravity Acquisition Agreement)3.8 Plus: Various closing adjustments5.4 Adjusted purchase price$300.8 Cash paid $209.3 Fair value of common units issued (1)91.5 Preliminary purchase price$300.8 (1)The increase from the $85.0 million base purchase price outlined in the purchase agreement for the common unit consideration was driven by an appreciation in the common unit price.Purchase Price AllocationThe following table summarizes the preliminary fair values of assets acquired and liabilities assumed in the Gravity Acquisition as of January 2, 2025 (in millions):Assets acquired:Cash and cash equivalents$5.3 Accounts receivables16.4 Inventories1.8 Other current assets1.7 Property, plant and equipment191.5 Operating lease right-of-use assets0.1 Other intangibles (1)98.2 Other non-current assets0.1 Total assets acquired315.1 Liabilities assumed:Accounts payable2.5 Accrued expenses and other current liabilities5.7 Current portion of operating lease liabilities0.1 Asset retirement obligations6.0 Total liabilities assumed14.3 Fair value of net assets acquired$300.8 (1)The acquired intangible assets amount includes the following identified intangibles:•Customer relationship intangible that is