Delek Logistics Partners LP

For the period ended Dec 31, 2023. Filed Feb 28, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 28, 2024

DKL$53.25+0.2%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

(in thousands)

	Year Ended December 31,
	2023	2022	2021
Cash flows from operating activities:
Net income	$126,236	$159,052	$164,822
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	92,384	62,988	42,770
Non-cash lease expense	9,549	16,254	9,652
Amortization of marketing contract intangible	7,211	7,211	7,211
Amortization of deferred revenue	(1,755)	(1,775)	(1,953)
Amortization of deferred financing costs and debt discount	6,327	3,872	3,016
Impairment of Goodwill	14,848	—	—
Income from equity method investments	(31,433)	(31,683)	(24,575)
Dividends from equity method investments	28,729	22,954	20,831
Other non-cash adjustments	2,697	2,718	1,959
Changes in assets and liabilities:
Accounts receivable	21,570	(9,071)	292
Inventories and other current assets	(131)	2,233	55
Accounts payable and other current liabilities	(20,729)	18,564	(1,913)
Accounts receivable/payable to related parties	(34,498)	(58,368)	67,161
Non-current assets and liabilities, net	4,314	(2,781)	(14,166)
Net cash provided by operating activities	225,319	192,168	275,162
Cash flows from investing activities:
Purchases of property, plant and equipment	(96,101)	(141,098)	(23,052)
Proceeds from sales of property, plant and equipment	1,717	143	275
Purchases of intangible assets	(4,247)	(5,597)	(964)
Business Combination, net of cash acquired	—	(625,622)	—
Distributions from equity method investments	9,002	1,737	8,774
Equity method investment contributions	—	—	(1,393)
Net cash used in investing activities	(89,629)	(770,437)	(16,360)
Cash flows from financing activities:
Proceeds from issuance of common units, net of underwriters' discount	—	3,096	—
Distributions to common unitholders - public	(38,491)	(35,868)	(32,462)
Distributions to common unitholders - Delek Holdings	(141,534)	(135,219)	(129,255)
Proceeds from term facility	—	298,511	—
Proceeds from revolving facility	431,800	1,752,300	341,000
Payments on revolving facility	(371,800)	(1,289,800)	(829,601)
Payments on term loan debt	(18,750)	—	—
Proceeds from issuance of senior notes	—	—	400,000
Proceeds from other financing agreements	6,214	—	—
Deferred financing costs paid	(4,468)	(8,206)	(6,216)
Payments on financing lease liabilities	(2,876)	(2,867)	(2,219)
Net cash (used in) provided by financing activities	(139,905)	581,947	(258,753)
Net (decrease) increase in cash and cash equivalents	(4,215)	3,678	49
Cash and cash equivalents at the beginning of the period	7,970	4,292	4,243
Cash and cash equivalents at the end of the period	$3,755	$7,970	$4,292

	Year Ended December 31,
	2023	2022	2021
Supplemental disclosures of cash flow information:
Cash paid during the period for:
Interest	$136,420	$78,148	$44,633
Income taxes	$20	$43	$34
Non-cash investing activities:
(Decrease) increase in accrued capital expenditures and other	$(14,765)	$(10,428)	$3,850
Non-cash financing activities:
Non-cash lease liability arising from obtaining right of use assets during the period	$4,966	$12,717	$9,457

F-8 |

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.