Delek Logistics Partners, LP

For the period ended Sep 30, 2025. Filed Nov 7, 2025.

About this filing

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, 2025 · Filed Nov 7, 2025

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

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Contents

Condensed Consolidated Statements of Cash Flows

Condensed Consolidated Statements of Cash Flows (Unaudited)

(in thousands)

	Nine Months Ended September 30,
	2025	2024
Cash flows from operating activities:
Net income	$129,168	$107,380
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	89,612	71,906
Non-cash lease expense	5,045	5,689
Amortization of marketing contract intangible	—	4,206
Amortization of deferred revenue	(2,102)	(2,055)
Amortization of deferred financing costs and debt discount	4,274	3,955
Income from equity method investments	(42,564)	(31,974)
Dividends from equity method investments	21,424	28,309
Loss on extinguishment of debt	—	3,571
Other non-cash adjustments	4,094	(3,378)
Changes in assets and liabilities:
Accounts receivable	(20,658)	(399)
Inventories and other current assets	(2,788)	(332)
Accounts payable and other current liabilities	269,392	(5,982)
Accounts receivable/payable to related parties	(263,622)	(30,625)
Net investment in leases - affiliate	7,717	5,531
Non-current assets and liabilities, net	(5,082)	639
Net cash provided by operating activities	193,910	156,441
Cash flows from investing activities:
Asset acquisitions from Delek Holdings	—	(83,903)
Purchases of property, plant and equipment	(237,143)	(83,008)
Proceeds from sales of property, plant and equipment	3,408	10,191
Purchases of intangible assets	(8,914)	(1,690)
Business combination, net of cash acquired	(181,180)	(159,495)
Distributions from equity method investments	12,168	3,377
Net cash used in investing activities	(411,661)	(314,528)
Cash flows from financing activities:
Distributions to common unitholders - public	(65,184)	(37,987)
Distributions to common unitholders - Delek Holdings	(113,050)	(110,092)
Proceeds from term debt	700,000	1,059,000
Payments on term debt	—	(531,250)
Proceeds from revolving facility	1,106,900	1,021,600
Payments on revolving facility	(1,385,450)	(1,347,200)
Unit repurchase	(10,000)	—
Proceeds from issuance of common units, net of underwriters' discount	—	132,202
Payments on other financing agreements	—	(6,214)
Deferred financing costs paid	(10,854)	(18,154)
Other financing activities	(3,083)	(256)
Net cash provided by financing activities	219,279	161,649
Net increase in cash and cash equivalents	1,528	3,562
Cash and cash equivalents at the beginning of the period	5,384	3,755
Cash and cash equivalents at the end of the period	$6,912	$7,317

	Nine Months Ended September 30,
	2025	2024
Supplemental disclosures of cash flow information:
Cash paid during the period for:
Interest	$129,334	$95,267
Non-cash investing activities:
Inventory received in connection with DPG Dropdown	$6,860	$—
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
Forgiveness of related party receivable in connection with DPG Dropdown	$58,800	$—
Common units issued in connection with Gravity Acquisition	$91,511	$—
Increase in accrued capital expenditures	$3,619	$7,542
Non-cash financing activities:
Lease liability arising from obtaining right-of-use assets during the period	$33,110	$1,398
Decrease in right-of-use assets due to lease terminations during the period	$1,176	$—

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