Delek US Holdings Inc
For the period ended Mar 31, 2025. Filed May 7, 2025.
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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, 2025 · Filed May 7, 2025
DK$62.64-3.6%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows (unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net loss | $(158.5) | $(25.2) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||
| Depreciation and amortization | 101.3 | 91.7 |
| Non-cash lease expense | 6.5 | 12.9 |
| Deferred income taxes | (36.9) | (8.1) |
| Income from equity method investments | (13.3) | (21.9) |
| Dividends from equity method investments | 7.3 | 9.5 |
| Non-cash lower of cost or market/net realizable value adjustment | 0.2 | (8.8) |
| Loss on extinguishment of debt | — | 3.6 |
| Equity-based compensation expense | 6.9 | 7.2 |
| (Loss) income from discontinued operations | 0.3 | (3.2) |
| Other | (2.1) | (0.2) |
| Changes in assets and liabilities: | ||
| Accounts receivable | (17.9) | (48.0) |
| Inventories and other current assets | 12.2 | (46.6) |
| Fair value of derivatives | 2.3 | 13.5 |
| Accounts payable and other current liabilities | 4.1 | 110.7 |
| Obligation under Inventory Intermediation Agreements | 24.9 | 85.1 |
| Non-current assets and liabilities, net | 0.6 | (11.3) |
| Cash (used in) provided by operating activities - continuing operations | (62.1) | 160.9 |
| Cash (used in) provided by operating activities - discontinued operations | (0.3) | 5.8 |
| Net cash (used in) provided by operating activities | (62.4) | 166.7 |
| Cash flows from investing activities: | ||
| Business combination, net of cash acquired | (181.2) | — |
| Distributions from equity method investments | 2.1 | 2.8 |
| Purchases of property, plant and equipment | (135.7) | (38.3) |
| Purchases of intangible assets | (4.6) | (0.7) |
| Proceeds from sale of property, plant and equipment | 4.3 | — |
| Insurance and settlement proceeds | 3.1 | 3.6 |
| Other | (2.6) | — |
| Cash used in investing activities - continuing operations | (314.6) | (32.6) |
| Cash used in investing activities - discontinued operations | — | (9.0) |
| Net cash used in investing activities | (314.6) | (41.6) |
| Cash flows from financing activities: | ||
| Proceeds from long-term revolvers | 2,820.3 | 1,493.1 |
| Payments on long-term revolvers | (2,550.6) | (1,708.4) |
| Proceeds from term debt | — | 650.0 |
| Payments on term debt | (2.4) | (533.7) |
| Proceeds from product and other financing agreements | 362.0 | 101.0 |
| Repayments of product and other financing agreements | (294.4) | (290.7) |
| Repurchase of common stock | (31.5) | — |
| Distribution to non-controlling interest | (21.6) | (9.8) |
| Proceeds from issuance of Delek Logistic common limited partner units, net | — | 132.3 |
| Dividends paid | (15.9) | (15.7) |
| Deferred financing costs paid | — | (10.9) |
| Other | (0.7) | (1.1) |
| Cash provided by (used in) financing activities - continuing operations | 265.2 | (193.9) |
| Net cash provided by (used in) financing activities | 265.2 | (193.9) |
| Net decrease in cash and cash equivalents | (111.8) | (68.8) |
| Cash and cash equivalents at the beginning of the period | 735.6 | 822.2 |
| Cash and cash equivalents at the end of the period | 623.8 | 753.4 |
| Less cash and cash equivalents of discontinued operations at the end of the period | — | 0.4 |
| Cash and cash equivalents of continuing operations at the end of the period | $623.8 | $753.0 |
Condensed Consolidated Statements of Cash Flows (unaudited) (Continued)
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Supplemental disclosures of cash flow information: | ||
| Cash paid during the period for: | ||
| Interest, net of capitalized interest of $3.4 million and $0.2 million in the 2025 and 2024 periods, respectively | $94.3 | 75.2 |
| Non-cash investing activities: | ||
| Delek Logistics common units issued in connection with Gravity Acquisition | $91.5 | $— |
| (Decrease) increase in accrued capital expenditures | $(3.1) | $3.5 |
| Non-cash financing activities: | ||
| Non-cash lease liability arising from obtaining right-of-use assets during the period | $11.4 | $8.0 |
7 |
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