DK — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-04-29

• goodwill, or have other financial statement impacts that cannot currently be anticipated;

• •impacts of global conflicts such as the armed conflicts in Ukraine and the Middle East;

• Our focus on safe and reliable operations is a pillar which underlines all of our business activities. We continue to identify opportunities to mitigate market risk and focus on efforts that improve our overall cost structure while not compromising operational excellence. Our disciplined approach to…

• Global crude oil and refined product markets have experienced significant volatility in 2026 due to geopolitical instability in the Middle East, including the ongoing conflict involving Iran and resulting disruptions to maritime transit through the Strait of Hormuz. In the first quarter of 2026, the…

• The near term economic outlook still has uncertainty due to geopolitical instability, commodity market volatility and our requirements to comply with the U.S. Environment Projection Agency’s Renewable Fuel Standard - 2 ("RFS-2") regulations. As a result, we continue to progress our business transfor…

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• •impacts of global conflicts such as the Israel-Iran War, the Israel-Hamas War, and the Russia-Ukraine War;

• Our focus on safe and reliable operations is a pillar which underlines all of our business activities. We continue to identify opportunities to mitigate market risk and focus on efforts that improve our overall cost structure while not compromising operational excellence. During the third quarter of…

• Our refining operations continue to be impacted by requirements to comply with RFS-2. In the third quarter of 2025, we were returned 2019-2023 RINs after being granted small refinery exemptions from the U.S. Environmental Protection Agency (“EPA”) related to the 2019-2024 compliance periods. While a…

• The near term economic outlook still has uncertainty due to geopolitical instability and commodity market volatility. The uncertainty surrounding trade negotiations and the potential for further expansion of tariffs have contributed to increased market and commodity volatility and potential economic…

• On January 2, 2025, Delek Logistics acquired 100% of the limited liability company interests in Gravity Water Intermediate Holdings LLC from Gravity Water Holdings LLC (the "Gravity Purchase Agreement") related to water disposal and recycling operations in the Permian Basin and the Bakken for total …

Text added vs the prior filing · source: 10-Q · 2026-04-29

• On April 1, 2026, we entered into an interest rate swap agreement to hedge floating rate debt by exchanging interest rate cash flows, based on a notional amount from a floating rate to a fixed rate, which effectively fixed the variable SOFR interest component of the Delek Term Loan Credit Facility. …

• The annualized impact of a hypothetical one percent change in interest rates on our floating rate debt, after considering the interest rate swaps, outstanding as of March 31, 2026 would be to change interest expense by approximately $3.8 million.

• We also have interest rate exposure in connection with our Inventory Intermediation Agreement under which we pay a time value of money charge based on SOFR.

• From time to time, we enter into active trading positions in a variety of commodity derivatives, which include forward physical contracts, swap contracts, and futures contracts. These trading activities are undertaken by using a range of contract types in combination to create incremental gains by c…

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• The annualized impact of a hypothetical one percent change in interest rates on our floating rate debt, after considering the interest rate swaps, outstanding as of September 30, 2025 would be to change interest expense by approximately $3.8 million.

• We also have interest rate exposure in connection with our Inventory Intermediation Agreement under which we pay a time value of money charge based on Secured Overnight Financing Rate.

• From time to time, we enter into active trading positions in a variety of commodity derivatives, which include forward physical contracts, swap contracts, and futures contracts. These trading activities are undertaken by using a range of contract types in combination to create incremental gains by c…

Text added vs the prior filing · source: 10-Q · 2026-04-29

• There have been no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) that occurred during the first quarter of 2026 that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• We acquired Gravity effective January 2, 2025, and have included the operating results and assets and liabilities of Gravity in our condensed consolidated financial statements as of September 30, 2025. As permitted by SEC guidance for newly acquired businesses, management’s assessment of the Company…

• Other than the acquisition of Gravity, there have been no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) that occurred during the third quarter of 2025 that have materially affected or are reasonably likely to materially affect our inte…

Text added vs the prior filing · source: 10-Q · 2026-04-29

• As previously disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, in September 2025, our subsidiary Alon Refining Krotz Springs, Inc. (“Alon Krotz Springs”) filed a petition for review in the United States Court of Appeals for the District of Columbia Circuit (th…

• Other claims we are pursuing against the EPA include a proceeding by our subsidiaries Alon Refining Krotz Springs, Inc., Delek Refining, Ltd., Lion Oil Company, LLC and Alon USA, LP in the D.C. Court of Appeals (case numbers 25-1229, 1230, 1231, 1245) filed in October 2025 seeking review of the EPA’…

• Aside from the matters discussed above and disclosure updated in Note 12, there have been no material developments to the proceedings previously reported in our Annual Report on Form 10-K filed on February 27, 2026.

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• Delek is pursuing litigation against the EPA based on its August 2025 small refinery exemption decisions. In September 2025, our subsidiary Alon Refining Krotz Springs, Inc. filed suit in the United States Court of Appeals for the District of Columbia Circuit (the “D.C. Court of Appeals”) (case no. …

• Aside from the matters discussed above and disclosure updated in Note 13, there have been no material developments to the proceedings previously reported in our Annual Report on Form 10-K filed on February 26, 2025.

Text removed vs the prior filing · source: 10-Q · 2025-11-07

• On August 13, 2025, Reuven Spiegel, Executive Vice President, Special Projects, amended a Rule 10b5-1 trading arrangement originally entered into on March 6, 2025. The amended Rule 10b5-1 trading arrangement is for the sale of up to 10,000 shares of our common stock, subject to certain conditions. T…

• On September 10, 2025, Robert Wright, Senior Vice President & Deputy Chief Financial Officer, entered into a Rule 10b5-1 trading arrangement for the sale of 61,325 shares of our common stock, subject to certain conditions. This arrangement's expiration date is April 15, 2027.