Basic earnings (loss) per share (or "EPS") is computed by dividing net income (loss) by the weighted average common shares outstanding. Diluted EPS is computed by dividing net income (loss), adjusted for changes in income resulting from the assumed settlement of dilutive equity instrument, by the diluted weighted average common shares outstanding. For all periods presented, outstanding equity-based compensation awards are included in the diluted EPS calculation when dilutive, including those disclosed in Note 17 to these condensed consolidated financial statements. Awards indexed to our common stock are generally dilutive when the market price of the underlying common stock exceeds the exercise price.


(In millions, except share and per share data)	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator:
Numerator for EPS - continuing operations
Net income (loss) from continuing operations	$	180.1	$	(89.3)	$	(10.6)	$	(247.5)

Less: Income from continuing operations attributed to non-controlling interests	10.6		16.3		21.0		30.5


Numerator for basic and diluted EPS from continuing operations attributable to Delek	$	169.5	$	(105.6)	$	(31.6)	$	(278.0)

Numerator for EPS - discontinued operations
Income (loss) from discontinued operations	$	—	$	(1.0)	$	(0.3)	$	(1.4)
Less: Income tax expense (benefit)	—		(0.2)		(0.1)		(0.3)


Income (loss) from discontinued operations, net of tax	$	—	$	(0.8)	$	(0.2)	$	(1.1)

Denominator:
Weighted average common shares outstanding (denominator for basic EPS)	61,315,020		60,506,943		60,788,126		61,306,915


Dilutive effect of stock-based awards	1,171,316		—		—		—
Weighted average common shares outstanding, assuming dilution (denominator for diluted EPS)	62,486,336		60,506,943		60,788,126		61,306,915

EPS:
Basic income (loss) per share:
Income (loss) from continuing operations	$	2.76	$	(1.75)	$	(0.52)	$	(4.53)
Income (loss) from discontinued operations	—		(0.01)		—		(0.02)
Total basic income (loss) per share	$	2.76	$	(1.76)	$	(0.52)	$	(4.55)
Diluted income (loss) per share:
Income (loss) from continuing operations	$	2.71	$	(1.75)	$	(0.52)	$	(4.53)
Income (loss) from discontinued operations	—		(0.01)		—		(0.02)
Total diluted income (loss) per share	$	2.71	$	(1.76)	$	(0.52)	$	(4.55)

The following equity instruments were excluded from the diluted weighted average common shares outstanding because their effect would be anti-dilutive:
Antidilutive stock-based compensation (because average share price is less than exercise price)	286,642		2,446,267		247,966		2,384,652
Antidilutive due to loss	—		507,043		1,769,600		471,261
Total antidilutive stock-based compensation	286,642		2,953,310		2,017,566		2,855,913