Delek Logistics Partners LP
For the period ended Sep 30, 2024. Filed Nov 7, 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.
Sep 30, 2024 · Filed Nov 7, 2024
DKL$53.25+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income | $107,380 | $104,088 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 71,906 | 69,417 |
| Non-cash lease expense | 5,689 | 7,407 |
| Amortization of marketing contract intangible | 4,206 | 5,408 |
| Amortization of deferred revenue | (2,055) | (1,331) |
| Amortization of deferred financing costs and debt discount | 3,955 | 3,476 |
| Income from equity method investments | (31,974) | (22,897) |
| Dividends from equity method investments | 28,309 | 24,118 |
| Loss on extinguishment of debt | 3,571 | — |
| Other non-cash adjustments | (4,015) | 2,312 |
| Changes in assets and liabilities: | ||
| Accounts receivable | (399) | 21,430 |
| Inventories and other current assets | (332) | (2,290) |
| Accounts payable and other current liabilities | (5,982) | (29,180) |
| Accounts receivable/payable to related parties | (30,625) | (73,144) |
| Net investment in leases - affiliate | 6,168 | |
| Non-current assets and liabilities, net | 639 | 1,816 |
| Net cash provided by operating activities | 156,441 | 110,630 |
| Cash flows from investing activities: | ||
| Asset acquisitions from Delek Holdings | (83,903) | — |
| Purchases of property, plant and equipment | (83,008) | (58,564) |
| Proceeds from sales of property, plant and equipment | 10,191 | 1,036 |
| Purchases of intangible assets | (1,690) | (2,583) |
| Business combination | (159,495) | — |
| Distributions from equity method investments | 3,377 | 4,477 |
| Net cash used in investing activities | (314,528) | (55,634) |
| Cash flows from financing activities: | ||
| Distributions to common unitholders - public | (37,987) | (28,695) |
| Distributions to common unitholders - Delek Holdings | (110,092) | (105,679) |
| Proceeds from term debt | 1,059,000 | — |
| Payments on term debt | (531,250) | (11,250) |
| Proceeds from revolving facility | 1,021,600 | 304,500 |
| Payments on revolving facility | (1,347,200) | (213,800) |
| Proceeds from issuance of units | 132,202 | — |
| Payments on other financing agreements | (6,214) | — |
| Deferred financing costs paid | (18,154) | (1,669) |
| Other financing activities | (256) | (2,191) |
| Net cash provided by (used in) financing activities | 161,649 | (58,784) |
| Net increase (decrease) in cash and cash equivalents | 3,562 | (3,788) |
| Cash and cash equivalents at the beginning of the period | 3,755 | 7,970 |
| Cash and cash equivalents at the end of the period | $7,317 | $4,182 |
| Supplemental disclosures of cash flow information: | ||
|---|---|---|
| Cash paid during the period for: | ||
| Interest expense | $95,267 | $89,524 |
| Income taxes | $— | $20 |
| Non-cash investing activities: | ||
| Equity attributable to W2W Holdings Acquisition | $(62,783) | $— |
| Forgiveness of related party receivable in connection with W2W Holdings Acquisition | $60,000 | $— |
| Preferred units issued in connection with H2O Acquisition | $70,000 | $— |
| Increase in accrued capital expenditures | $7,542 | $10,084 |
| Non-cash financing activities: | ||
| Non-cash lease liability arising from obtaining right of use assets during the period | $1,398 | $4,764 |
6 |
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