Delek US Holdings, Inc. Files 2023 Annual Report on Form 10-K

Ticker: DK · Form: 10-K · Filed: Feb 28, 2024 · CIK: 1694426

Sentiment: neutral

Topics: 10-K, Delek US Holdings, Petroleum Refining, Annual Report, Financials

TL;DR

<b>Delek US Holdings, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Delek US Holdings, Inc. (DK) filed a Annual Report (10-K) with the SEC on February 28, 2024. Delek US Holdings, Inc. filed its 2023 Form 10-K on February 28, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business is petroleum refining. Delek US Holdings, Inc. is incorporated in Delaware. The company's headquarters are located in Brentwood, Tennessee.

Why It Matters

For investors and stakeholders tracking Delek US Holdings, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Delek US Holdings' financial health, operational results, and strategic initiatives for the past fiscal year, crucial for investors and stakeholders to assess performance and future outlook. As a petroleum refiner, Delek US Holdings' performance is closely tied to energy market dynamics, making this annual report essential for understanding its position within the industry and its response to market fluctuations.

Risk Assessment

Risk Level: medium — Delek US Holdings, Inc. shows moderate risk based on this filing. The company operates in the volatile petroleum refining industry, which is subject to significant price fluctuations and regulatory changes, impacting its financial stability and profitability.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Delek US Holdings' resilience and growth prospects in the current energy market.

Key Numbers

Key Players & Entities

FAQ

When did Delek US Holdings, Inc. file this 10-K?

Delek US Holdings, Inc. filed this Annual Report (10-K) with the SEC on February 28, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Delek US Holdings, Inc. (DK).

Where can I read the original 10-K filing from Delek US Holdings, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Delek US Holdings, Inc..

What are the key takeaways from Delek US Holdings, Inc.'s 10-K?

Delek US Holdings, Inc. filed this 10-K on February 28, 2024. Key takeaways: Delek US Holdings, Inc. filed its 2023 Form 10-K on February 28, 2024.. The filing covers the fiscal year ending December 31, 2023.. The company's principal business is petroleum refining..

Is Delek US Holdings, Inc. a risky investment based on this filing?

Based on this 10-K, Delek US Holdings, Inc. presents a moderate-risk profile. The company operates in the volatile petroleum refining industry, which is subject to significant price fluctuations and regulatory changes, impacting its financial stability and profitability.

What should investors do after reading Delek US Holdings, Inc.'s 10-K?

Investors should review the detailed financial statements and risk factors in the 10-K to assess Delek US Holdings' resilience and growth prospects in the current energy market. The overall sentiment from this filing is neutral.

How does Delek US Holdings, Inc. compare to its industry peers?

Delek US Holdings, Inc. operates within the petroleum refining industry, a sector characterized by complex operations, significant capital investment, and sensitivity to global energy prices and demand.

Are there regulatory concerns for Delek US Holdings, Inc.?

As a publicly traded company, Delek US Holdings is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

Industry Context

Delek US Holdings, Inc. operates within the petroleum refining industry, a sector characterized by complex operations, significant capital investment, and sensitivity to global energy prices and demand.

Regulatory Implications

As a publicly traded company, Delek US Holdings is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

What Investors Should Do

  1. Review Delek US Holdings' detailed financial statements for the fiscal year ended December 31, 2023.
  2. Analyze the company's operational segments and their performance within the petroleum refining industry.
  3. Assess the risk factors outlined in the 10-K to understand potential challenges and their impact on the company.

Key Dates

Year-Over-Year Comparison

This filing is the 2023 annual report (10-K) for Delek US Holdings, Inc., providing updated financial and operational information compared to previous filings.

Filing Stats: 4,588 words · 18 min read · ~15 pages · Grade level 13.1 · Accepted 2024-02-28 08:25:43

Key Financial Figures

Filing Documents

Risk Factors

Item 1A. Risk Factors 30

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 55

Cybersecurity

Item 1C. Cybersecurity 55

Legal Proceedings

Item 3. Legal Proceedings 56

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 57 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 57

Reserved

Item 6. Reserved 58

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 59

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 94

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 95

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 95

Controls and Procedures

Item 9A. Controls and Procedures 96

Other Information

Item 9B. Other Information 96

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 96 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 97

Executive Compensation

Item 11. Executive Compensation 97

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 97

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 97

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 98 PART IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 99

Form 10-K Summary

Item 16. Form 10-K Summary 104

Signatures

Signatures 105 2 | PART I Delek US Holdings, Inc. is a registrant pursuant to the Securities Act of 1933 and is listed on the New York Stock Exchange ("NYSE") under the ticker symbol "DK." Effective July 1, 2017, we acquired the outstanding common stock of Alon USA Energy, Inc. ("Alon") (the "Delek/Alon Merger"), resulting in a new post-combination consolidated registrant renamed as Delek US Holdings, Inc. Unless otherwise noted or the context requires otherwise, the terms "we," "our," "us," "Delek" and the "Company" are used in this report to refer to Delek US Holdings, Inc. and its consolidated subsidiaries for all periods presented. Our business consists of three operating segments: refining, logistics and retail. As of December 31, 2023, we owned a 78.7% limited partner interest as well as a non-economic general partner interest in Delek Logistics Partners, LP ("Delek Logistics", NYSE:DKL), a publicly-traded master limited partnership that we formed in April 2012.

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