Delek Logistics Partners LP
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
DKL$53.25+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income | $32,648 | $37,367 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 26,495 | 21,105 |
| Non-cash lease expense | 1,939 | 2,200 |
| Amortization of marketing contract intangible | 1,803 | 1,803 |
| Amortization of deferred revenue | (572) | (444) |
| Amortization of deferred financing costs and debt discount | 1,250 | 1,127 |
| Income from equity method investments | (8,490) | (6,316) |
| Dividends from equity method investments | 9,509 | 9,238 |
| Loss on extinguishment of debt | 3,571 | — |
| Other non-cash adjustments | 1,492 | 780 |
| Changes in assets and liabilities: | ||
| Accounts receivable | (15,862) | 2,165 |
| Inventories and other current assets | 670 | (1,482) |
| Accounts payable and other current liabilities | (2,359) | (36,430) |
| Accounts receivable/payable to related parties | (8,145) | (1,578) |
| Non-current assets and liabilities, net | (91) | (345) |
| Net cash provided by operating activities | 43,858 | 29,190 |
| Cash flows from investing activities: | ||
| Purchases of property, plant and equipment | (11,255) | (27,837) |
| Proceeds from sales of property, plant and equipment | 42 | — |
| Purchases of intangible assets | (781) | (582) |
| Distributions from equity method investments | 2,133 | 1,440 |
| Net cash used in investing activities | (9,861) | (26,979) |
| Cash flows from financing activities: | ||
| Distributions to common unitholders - public | (10,012) | (9,442) |
| Distributions to common unitholders - Delek Holdings | (36,198) | (34,998) |
| Proceeds from term debt | 650,000 | — |
| Payments on term debt | (531,250) | (3,750) |
| Proceeds from revolving facility | 184,900 | 143,500 |
| Payments on revolving facility | (400,200) | (93,400) |
| Proceeds from issuance of units | 132,327 | — |
| Payments on other financing agreements | (6,214) | — |
| Deferred financing costs paid | (10,946) | (400) |
| Other financing activities | (487) | (727) |
| Net cash (used in) provided by financing activities | (28,080) | 783 |
| Net increase in cash and cash equivalents | 5,917 | 2,994 |
| Cash and cash equivalents at the beginning of the period | 3,755 | 7,970 |
| Cash and cash equivalents at the end of the period | $9,672 | $10,964 |
| Supplemental disclosures of cash flow information: | ||
|---|---|---|
| Cash paid during the period for: | ||
| Interest | $28,503 | $20,210 |
| Non-cash investing activities: | ||
| Increase in accrued capital expenditures | $3,910 | $8,258 |
| Non-cash financing activities: | ||
| Non-cash lease liability arising from obtaining right of use assets during the period | $537 | $3,456 |
6 |
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