v3.25.1
Segment Data
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Data Segment Data
Prior to July 2024, we aggregated our operating units into three reportable segments: Refining, Logistics, and Retail. However, on July 31, 2024, Delek entered into the Retail Purchase Agreement to sell the Retail Stores, which consisted of the entire retail segment to FEMSA. As a result of the Retail Purchase Agreement, we met the requirements of ASC 205-20 and ASC 360 to report the results of the Retail Stores as discontinued operations and to classify the Retail Stores as a group of discontinued operations assets. The Retail Transaction closed on September 30, 2024. Operations that are not specifically included in the reportable segments are included in Corporate, Other and Eliminations, which consist of the following:
•our corporate activities;
•results of certain immaterial operating segments, including our Canadian crude trading operations (as discussed in Note 11); and
•intercompany eliminations.
During the second quarter 2024, we realigned our reportable segments for financial reporting purposes to reflect changes in the manner in which our chief operating decision maker, or CODM, assesses financial information for decision-making purposes. The change represents reporting the operating results of our 50% interest in a joint venture that owns asphalt terminals located in the southwestern region of the U.S. within the refining segment. Prior to this change, these operating results were reported as part of corporate, other and eliminations. While this reporting change did not change our consolidated results, segment data for previous years has been restated and is consistent with the current year presentation throughout the financial statements and the accompanying notes.
On August 5, 2024, we contributed all of our 50% investment in W2W Holdings LLC ("HoldCo") which included our 15.6% indirect interest in the Wink to Webster Pipeline ("WWP") joint venture and related joint venture indebtedness, to a subsidiary of Delek Logistics. The operating results of HoldCo are now reported in our Logistics segment. Previously, they were reported as part of corporate, other and eliminations.
The disaggregated financial results for the reporting segments have been prepared using a management approach, which is consistent with the basis and manner in which management internally disaggregates financial information for the purposes of assisting internal operating decisions. The CODM evaluates performance based upon EBITDA attributable to Delek. We define EBITDA attributable to Delek for any period as net income (loss) attributable to Delek plus interest expense, income tax expense (benefit), depreciation and amortization. Segment EBITDA should not be considered a substitute for results prepared in accordance with U.S. GAAP and should not be considered alternatives to net income (loss), which is the most directly comparable financial measure to EBITDA that is in accordance with U.S. GAAP. Segment EBITDA, as determined and measured by us, should also not be compared to similarly titled measures reported by other companies.
Assets by segment are not a measure used to assess the performance of the Company by the CODM and thus are not disclosed.
Refining Segment
The refining segment processes crude oil and other feedstocks for the manufacture of transportation motor fuels, including various grades of gasoline, diesel fuel and aviation fuel, asphalt and other petroleum-based products that are distributed through owned and third-party product terminals. The refining segment includes the following:
•Tyler, Texas refinery (the "Tyler refinery");
•El Dorado, Arkansas refinery (the "El Dorado refinery");
•Big Spring, Texas refinery (the "Big Spring refinery"); and
•Krotz Springs, Louisiana refinery (the "Krotz Springs refinery").
The refining segment also owns three biodiesel facilities, located in Crossett, Arkansas, Cleburne, Texas and New Albany, Mississippi. During the second quarter of 2024, we made the decision to idle the biodiesel facilities, while exploring viable and sustainable alternatives. In addition, the refining segment includes our wholesale crude operations and our 50% interest in a joint venture that owns asphalt terminals located in the southwestern region of the U.S.
The refining segment's petroleum-based products are marketed primarily in the south central and southwestern regions of the United States. This segment also ships and sells gasoline into wholesale markets in the southern and eastern United States. In addition, the segment sells motor fuels through its wholesale distribution network on an unbranded basis.
Logistics Segment
Our logistics segment owns and operates crude oil, refined products and natural gas logistics and marketing assets as well as water disposal and recycling assets. The logistics segment generates revenue by charging fees for gathering, transporting and storing crude oil and natural gas, marketing, distributing, transporting and storing intermediate and refined products and disposing and recycling water in select regions of the southeastern United States and North Dakota, the Midland Basin in Texas, the Delaware Basin in New Mexico and West Texas for our refining segment and third parties, and sales of wholesale products in the West Texas market. The operating results and assets acquired in the Gravity Acquisition have been included in the logistics segment beginning on January 2, 2025. The operating results and assets acquired in the H2O Midstream Acquisition have been included in the logistics segment beginning on September 11, 2024.

Business Segment Operating Performance
The following is a summary of business segment operating performance as measured by EBITDA attributable to Delek for the period indicated (in millions):
 Three Months Ended March 31, 2025
(In millions)RefiningLogisticsCorporate,
Other and Eliminations		Consolidated
Net revenues (excluding intercompany fees and revenues)$2,518.3 $123.6 $— $2,641.9 
Inter-segment fees and revenues90.0 126.3 (216.3)— 
Total revenues$2,608.3 $249.9 $(216.3)$2,641.9 
Cost of materials and other2,470.9 129.1 (200.5)2,399.5 
Operating Expenses158.1 40.9 13.4 212.4 
General and administrative expenses2.1 8.9 50.5 61.5 
Income from equity method investments(3.5)(10.2)0.4 (13.3)
Other(3.1)(4.3)13.0 5.6 
Segment EBITDA attributable to Delek$(16.2)$85.5 $(93.1)$(23.8)
Depreciation and amortization71.9 30.9 (1.5)101.3 
Interest expense, net36.1 18.6 29.4 84.1 
Income tax benefit(36.8)
Loss from discontinued operations, net of tax0.3 
Net loss attributable to Delek$(172.7)
Capital spending (2)
$56.2 $71.9 $4.5 $132.6 
 Three Months Ended March 31, 2024
(In millions)RefiningLogistics
Corporate,
Other and Eliminations (3)
Consolidated
Net revenues (excluding intercompany fees and revenues)$2,921.6 $112.5 $— $3,034.1 
Inter-segment fees and revenues (1)
186.7 139.6 (232.4)93.9 
Total revenues$3,108.3 $252.1 $(232.4)$3,128.0 
Cost of materials and other2,839.9 123.7 (230.7)2,732.9 
Operating Expenses165.8 31.9 17.2 214.9 
General and administrative expenses4.1 4.9 52.0 61.0 
Income from equity method investments(4.0)(8.5)(9.4)(21.9)
Other(2.6)0.4 7.3 5.1 
Segment EBITDA attributable to Delek$105.1 $99.7 $(68.8)$136.0 
Depreciation and amortization61.4 26.5 3.8 91.7 
Interest expense, net12.1 40.3 35.3 87.7 
Income tax benefit(7.6)
Income from discontinued operations, net of tax(3.2)
Net income attributable to Delek$(32.6)
Capital spending (2)
$21.5 $15.2 $5.1 $41.8 
(1) Intercompany fees and sales for the refining segment include revenues of $93.9 million during the three months ended March 31, 2024, to the Retail Stores, the operations of which are reported in discontinued operations.
(2) Capital spending includes additions on an accrual basis. Capital spending excludes capital spending associated with the Retail Stores of $4.1 million during the three months ended March 31, 2024.
(3) The corporate, other and eliminations segment operating results for the three months ended March 31, 2024 have been restated to reflect the reclassification of the Retail Stores to discontinued operations.