Company: DK
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050541
Chunk: 53

Company: Delek US Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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4Product financing agreements$398.8 $185.9 Crude purchase liabilities212.5 193.9 Employee costs97.2 43.2 Income and other taxes payable79.9 101.1 Consolidated Net RINs deficit (see Note 12)— 30.6 Short-term derivative liabilities (see Note 11)39.1 5.6 Deferred revenue4.3 6.9 Other88.5 82.3 Total$920.3 $649.5 (1)Net of RIN lower of cost or market reserve of $39.4 million for the three and nine months ended September 30, 2025.

17. Restructuring and Other Charges

During the fiscal year 2022, we initiated a cost optimization plan to improve efficiencies and align our workforce with strategic activities and operations. The recorded costs include an accrual of $1.0 million and $10.4 million as of September 30, 2025, and December 31, 2024, respectively. During the second quarter of 2024, we made the decision to idle the Crossett, Arkansas, Cleburne, Texas and New Albany, Mississippi biodiesel facilities, while exploring viable and sustainable alternatives. Those alternatives could include restarting if market conditions improve, marketing for sale or permanently closing any of the facilities. Our decision to idle these facilities was driven by the decline in the overall biodiesel market and aligns with our continued operational and cost optimization efforts. As a result, we conducted an evaluation of impairment and based on our review we recorded a $22.1 million impairment which included property, plant and equipment and right of use assets. In addition, $0.4 million of severance and benefit expenses were recognized in the nine months ended September 30, 2024. No severance and benefit expenses were recognized in the three months ended September 30, 2024.During the third quarter 2024, we made a strategic decision to abandon certain capital projects included in construction in progress that no longer fit our core objectives. As a result, we recognized a loss of $14.1 million in the three and nine months ended September 30, 2024 which was recorded in other operating (income) loss, net in the condensed consolidated statements of income. In addition, we recognized impairment charges totaling $9.2 million related to certain pipeline assets because it is no longer probable these assets will be