Investor Presentaiton
Reconciliation of Segment EBITDA Attributable to Delek to Adjusted Segment EBITDA
$ in millions (unaudited)
Seqment EBITDA Attributable to Delek
Adjusting items
Net inventory LCM valuation (benefit) loss
Other inventory impact
2.0
331.1
Unrealized inventory/commodity hedging (gain) loss
where the hedged item is not yet recognized in the
financial statements
8.1
Unrealized RINs and other hedging (gain) loss where
the hedged item is not yet recognized in the financial
statements
Total unrealized hedging (gain) loss where the hedged
item is not yet recognized in the financial statements
Restructuring costs
Transaction related expenses
Business Interruption insurance recoveries
Net income attributable to non-controlling interest
Total Adjusting items
Adjusted Segment EBITDA
Year Ended December 31, 2021, As Adjusted (1)
Refining
Logistics
Retail
$
719.1 $
304.8 S
44.1
$
(0.1)
Year Ended December 31, 2022
Corporate,
Other and
Eliminations
$ in millions (unaudited)
Consolidated
(264.7)
$
Segment EBITDA Attributable to Delek
Adjusting items
$
Refining (1)
69.2 $
Logistics
Retail
Corporate,
Other and
Fliminations
Consolidated
(1)
258.0
$
51.1
S
(147.3) $
231.0
803.3
Net inventory LCM valuation (benefit) loss
Other inventory impact
8.4
0.1
(218.1)
8.5
(218.1)
1.9
331.1
Unrealized inventory/commodity hedging (gain) loss
where the hedged item is not yet recognized in the
financial statements
6.7
(0.3)
6.4
8.1
Unrealized RINS and other hedging (gain) loss where
the hedged item is not yet recognized in the financial
statements
0.3
0.3
16.0
16.0
Total unrealized hedging (gain) loss where the hedged
item is not yet recognized in the financial statements
El Dorado refinery fire losses
7.0
(0.3)
6.7
7.8
7.8
Business Interruption insurance recoveries
(9.9)
(9.9)
24.1
24.1
Non-cash change in fair value of S&O Obligation
associated with hedging activities
(6.9)
(6.9)
12.5
12.5
Non-operating litigation accrual related to pre-Delek/Alon
10.6
10.6
Merger shareholder action
6.5
6.5
(31.1)
(31.1)
33.4
33.4
Contract termination recoveries in excess of amounts that
have or will impact EBITDA
(20.9)
(20.9)
326.1
10.5
45.9
382.5
Net income attributable to non-controlling interest
33.0
33.0
$
1.045.2
$
315.3
$
44.1
$
(218.8) $
Total Adjusting items
1.185.8
Adjusted Segment EBITDA
$
(211.7)
(142.5) $
(0.2)
18.6
(193.3)
257.8
$
51.1
$
(128.7) $
37.7
1) Adjusted to reflect the retrospective change in accounting policy from LIFO to FIFO for certain inventories.
18View entire presentation