Delek US Holdings, Inc.

For the period ended Jun 30, 2026. Filed Aug 5, 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.

Jun 30, 2026 · Filed Aug 5, 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)

	Six Months Ended June 30,
	2026	2025
Cash flows from operating activities:
Net income (loss)	$(10.8)	$(248.6)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	219.0	195.4
Non-cash lease expense	11.3	21.7
Deferred income taxes	(61.8)	(51.2)
Income from equity method investments	(34.3)	(35.5)
Dividends from equity method investments	23.0	13.5
Non-cash lower of cost or market/net realizable value adjustment	(4.2)	0.1
Loss on extinguishment of debt	23.5	—
Equity-based and non-cash compensation expense	14.5	14.6
Loss (income) from discontinued operations	0.2	1.1
Other	10.8	10.2
Changes in assets and liabilities:
Accounts receivable	(212.0)	(115.6)
Inventories and other current assets	(304.2)	(3.8)
Fair value of derivatives	(3.6)	2.0
Accounts payable and other current liabilities	1,007.1	214.6
Obligation under Inventory Intermediation Agreements	(24.3)	(20.3)
Non-current assets and liabilities, net	70.0	(8.1)
Cash provided by (used in) operating activities - continuing operations	724.2	(9.9)
Cash (used in) provided by operating activities - discontinued operations	(0.2)	(1.1)
Net cash provided by (used in) operating activities	724.0	(11.0)
Cash flows from investing activities:
Business combination, net of cash acquired	—	(181.2)
Distributions from equity method investments	8.1	5.6
Purchases of property, plant and equipment	(361.5)	(301.5)
Purchases of intangible assets	(9.2)	(7.1)
Proceeds from sale of property, plant and equipment	0.2	4.9
Insurance and settlement proceeds	—	6.2
Other	(4.1)	(4.5)
Net cash used in investing activities	(366.5)	(477.6)
Cash flows from financing activities:
Proceeds from long-term revolvers	6,049.3	5,374.7
Payments on long-term revolvers	(6,013.1)	(5,729.3)
Proceeds from term debt	1,650.0	700.0
Payments on term debt	(1,721.5)	(4.8)
Proceeds from product and other financing agreements	566.6	840.2
Repayments of product and other financing agreements	(705.8)	(678.1)
Repurchase of common stock	(20.0)	(44.4)
Distribution to non-controlling interest	(44.3)	(43.3)
Dividends paid	(31.2)	(31.4)
Deferred financing costs paid	(33.5)	(10.8)
Other	(51.2)	(4.3)
Net cash (used in) provided by financing activities	(354.7)	368.5
Net increase (decrease) in cash and cash equivalents	2.8	(120.1)
Cash and cash equivalents at the beginning of the period	625.8	735.6
Cash and cash equivalents at the end of the period	628.6	615.5

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

	Six Months Ended June 30,
	2026	2025
Supplemental disclosures of cash flow information:
Cash paid (received) during the period for:
Interest, net of capitalized interest of $5.8 million and $7.0 million in the 2026 and 2025 periods, respectively	$170.5	163.6
Income taxes, net of refunds	$(2.8)	$(0.3)
Non-cash investing activities:
Delek Logistics common units issued in connection with Gravity Acquisition	$—	$91.5
Increase (decrease) in accrued capital expenditures	$(4.5)	$(5.0)
Non-cash financing activities:
Non-cash lease liability arising from obtaining right-of-use assets during the period	$12.3	$32.5
Non-cash right of use asset decrease due to lease termination during the period	$—	$(1.6)

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