Company: DK
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050541
Chunk: 106

Company: Delek US Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 106
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 The increase in cash provided was primarily due to net payments on long-term revolvers of $278.6 million for the nine months ended September 30, 2025 compared to net payments of $325.6 million in the comparable 2024 period, net proceeds on product and other financing arrangements of $216.8 million for the nine months ended September 30, 2025 compared to net payments of $52.9 million in the comparable 2024 period and net proceeds of term debt of $692.9 million for the nine months ended September 30, 2025 compared to net proceeds on term debt of $520.6 million in the comparable 2024 period, primarily related to the issuance of the Delek Logistics 2033 Notes and the related repayment on the Delek Logistics Revolving Facility.

These increases in cash flows were partially offset by the receipt of net proceeds of $132.2 million from the Delek Logistics' public offerings of common units in the nine months ended September 30, 2024, an increase of $39.4 million in share buybacks and a $27.5 million increase in distributions to non-controlling interests.

Cash Position and Indebtedness

As of September 30, 2025, our total cash and cash equivalents were $630.9 million, and we had total long-term indebtedness of approximately $3,177.3 million. The total long-term indebtedness is net of deferred financing costs and debt discount of $53.5 million. Additionally, we had letters of credit issued of approximately $419.4 million. Total unused credit commitments or borrowing base availability, as applicable, under our revolving credit facilities was approximately $1,673.7 million. The increase of $414.4 million in total long-term principal indebtedness as of September 30, 2025 compared to December 31, 2024 resulted primarily from the issuance of the Delek Logistics 2033 Notes and a decrease in net borrowings under the Delek Logistics Revolving Facility. As of September 30, 2025, our total long-term indebtedness (as defined in Note 10 of the condensed consolidated financial statements in Item 1. Financial Statements, of this Quarterly Report on Form 10-Q) consisted of the following:

•the Delek Revolving Credit Facility with no outstanding borrowings (maturity of October 26, 2027);

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Management's Discussion and Analysis

•aggregate principal of $923.9 million under the