Delek US Holdings, Inc.

For the period ended Mar 31, 2026. Filed Apr 29, 2026.

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.

Mar 31, 2026 · Filed Apr 29, 2026

DK$62.64-3.6%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)

	Three Months Ended March 31,
	2026	2025
Cash flows from operating activities:
Net income (loss)	$(190.9)	$(158.5)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	103.3	101.3
Non-cash lease expense	5.9	6.5
Deferred income taxes	(58.3)	(36.9)
Income from equity method investments	(14.6)	(13.3)
Dividends from equity method investments	12.9	7.3
Non-cash lower of cost or market/net realizable value adjustment	(8.7)	0.2
Loss on extinguishment of debt	1.6	—
Equity-based and non-cash compensation expense	7.4	6.9
Loss (income) from discontinued operations	0.2	0.3
Other	4.4	(2.1)
Changes in assets and liabilities:
Accounts receivable	(288.4)	(17.9)
Inventories and other current assets	(264.4)	12.2
Fair value of derivatives	(16.0)	2.3
Accounts payable and other current liabilities	1,058.7	4.1
Obligation under Inventory Intermediation Agreements	111.0	24.9
Non-current assets and liabilities, net	(2.8)	0.6
Cash provided by (used in) operating activities - continuing operations	461.3	(62.1)
Cash (used in) provided by operating activities - discontinued operations	(0.2)	(0.3)
Net cash provided by (used in) operating activities	461.1	(62.4)
Cash flows from investing activities:
Business combination, net of cash acquired	—	(181.2)
Distributions from equity method investments	5.0	2.1
Purchases of property, plant and equipment	(187.7)	(135.7)
Purchases of intangible assets	(5.9)	(4.6)
Proceeds from sale of property, plant and equipment	0.1	4.3
Insurance and settlement proceeds	—	3.1
Other	(1.8)	(2.6)
Net cash used in investing activities	(190.3)	(314.6)
Cash flows from financing activities:
Proceeds from long-term revolvers	3,111.5	2,820.3
Payments on long-term revolvers	(3,162.2)	(2,550.6)
Payments on term debt	(2.4)	(2.4)
Proceeds from product and other financing agreements	268.6	362.0
Repayments of product and other financing agreements	(416.2)	(294.4)
Repurchase of common stock	—	(31.5)
Distribution to non-controlling interest	(22.1)	(21.6)
Dividends paid	(15.6)	(15.9)
Deferred financing costs paid	(9.0)	—
Other	(25.1)	(0.7)
Net cash (used in) provided by financing activities	(272.5)	265.2
Net increase (decrease) in cash and cash equivalents	(1.7)	(111.8)
Cash and cash equivalents at the beginning of the period	625.8	735.6
Cash and cash equivalents at the end of the period	624.1	623.8

Condensed Consolidated Statements of Cash Flows (unaudited) (Continued)

	Three Months Ended March 31,
	2026	2025
Supplemental disclosures of cash flow information:
Cash paid during the period for:
Interest, net of capitalized interest of $3.0 million and $3.4 million in the 2026 and 2025 periods, respectively	$86.6	94.3
Non-cash investing activities:
Delek Logistics common units issued in connection with Gravity Acquisition	$—	$91.5
Increase (decrease) in accrued capital expenditures	$43.8	$(3.1)
Non-cash financing activities:
Non-cash lease liability arising from obtaining right-of-use assets during the period	$7.0	$11.4

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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.