Investor Presentaiton
Reconciliation of Net Income (Loss) Attributable to Delek to Adjusted Net Income (Loss)
2021
$ in millions (unaudited)
Reported net income (loss) attributable to Delek
Adjusting items (2)
Inventory LCM valuation (benefit) loss
Tax effect
Inventory LCM valuation (benefit) loss, net
Other inventory impact
Tax effect
Other inventory impact, net
2022
$
As Adjusted (1)
(Unaudited)
(118.7) $
Three Months Ended December 31,
Year Ended December 31,
2021
As Adjusted (1)
2022
(13.4) $
(Unaudited)
257.1 $
(128.3)
(17.2)
8.2
1.9
8.5
3.9
(1.9)
(0.4)
(2.0)
(13.3)
6.3
1.5
6.5
193.6
(61.6)
331.1
(218.1)
(44.2)
14.4
(75.7)
50.8
149.4
(47.2)
255.4
(167.3)
Business interruption insurance recoveries
(5.2)
(9.9)
(31.1)
(9.9)
Tax effect
1.2
2.2
7.0
2.2
Business interruption insurance recoveries, net
(4.0)
(7.7)
(24.1)
(7.7)
Total El Dorado refinery fire net losses, net of related recoveries
Tax effect
4.0
7.8
(1.0)
(1.9)
El Dorado refinery fire losses, net of related recoveries, net
3.0
5.9
Total unrealized hedging (gain) loss where the hedged item is
not vet recognized in the financial statements
Tax effect
50.1
(5.5)
24.1
6.7
(12.2)
1.3
(5.9)
(1.6)
Unrealized hedging (gain) loss where the hedged item is not yet
recognized in the financial statements. net
37.9
(4.2)
18.2
5.1
Non-cash change in fair value of Supply and Offtake ("S&O")
Obligation associated with hedging activities
Tax effect
Non-cash change in fair value of S&O Obligation associated
| | |
(6.9)
1.5
ā |
| |
| |
| |
| |
(5.4)
6.5
(1.6)
4.9
(10.2)
2.5
(7.7)
12.5
| | | | |
(3.0)
9.5
179.5
10.6
(2.6)
8.0
600505
12.5
(3.0)
9.5
(49.8)
268.5
(165.7)
$
60.8
$
(63.2) $
525.6 $
(294.0)
with hedging activities.net
Non-operating litigation accrual related to pre-Delek/Alon
Merger shareholder action
Tax effect
Non-operating litigation accrual related to pre-Delek/Alon
Merger shareholder action, net
In-substance indemnification recoveries from WTW Contract
Termination in excess of amounts that have or will impact net
income
Tax effect
Contract termination recoveries in excess of amounts that have
or will impact net income
Transaction related expenses
Tax effect
Transaction related expenses, net
Restructuring costs
Restructuring costs, net
Tax effect
Total adjusting items (2)
Adjusted net income (loss)
(1) Adjusted to reflect the retrospective change in accounting policy from LIFO to FIFO for certain inventories.
(2) All adjustments have been tax effected using the estimated marginal income tax rate, as applicable.
14View entire presentation