v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 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 0.0
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 0.0 (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 0.0 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
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 0.0 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 $ 0.0 $ (1.6)