Company: DK
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001694426-25-000112
Chunk: 147

Company: Delek US Holdings, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 147
---

•a decrease in sales volumes (including purchased products).

These decreases were partially offset by the following:

•an increase in the average price of U.S. Gulf Coast HSD of 3.1%.

Revenues included sales to our logistics segment of $174.4 million and $199.6 million for the six months ended June 30, 2025 and 2024, respectively. We eliminate this intercompany revenue in consolidation. 

Cost of Materials and Other

Q2 2025 vs. Q2 2024

Cost of materials and other decreased by $671.9 million, or 21.3%, in the second quarter of 2025 compared to the second quarter of 2024. The decrease was primarily driven by the following:

•decreases in the cost of WTI Cushing crude oil, from an average of $80.83 per barrel to an average of $63.81, or 21.1%, and decreases in the cost of WTI Midland crude oil, from an average of $81.73 per barrel to an average of $64.42, or 21.2%; 

•a decrease in sales volume (including purchased products); and

•a decrease in lease expense as a result of reclassification of certain fees with Delek Logistics from lease expense to interest expense under finance lease accounting. These finance leases have no impact to the Delek US consolidated results as these amounts eliminate in consolidation.

These decreases were partially offset by the following:

•an increase in RINs pricing.

YTD 2025 vs. YTD 2024

Cost of materials and other decreased $1,040.9 million, or 17.4%, in the six months ended June 30, 2025 compared to the six months ended June 30, 2024. This decrease was primarily driven by the following: 

•decreases in the cost of WTI Cushing crude oil, from an average of $78.95 per barrel to an average of $67.61, or 14.4%; and decreases in the cost of WTI Midland crude oil, from an average of $80.17 per barrel to an average of $68.44, or 14.6%; 

•a decrease in sales volumes (including purchased products); and

•a decrease in lease expense as a result of reclassification of certain fees with Delek Logistics from lease expense to interest expense under finance lease accounting. These finance leases have no