Summary Observations Regarding CVR's Campaign
Reconciliation of GAAP to Non-GAAP
Delek US Holdings, Inc.
Reconciliation of Amounts Reported Under U.S. GAAP
(In millions)
Reported segment contribution margin
Less:
General and administrative expenses
Add:
Gain (loss) on sale of assets
Adjusting items:
Net inventory LCM valuation benefit
Unrealized inventory/commodity hedging gain where the hedged item is not yet
recognized in the financial statements
Year Ended December 31, 2019
Refining
Logistics (Midstream)
Retail
$777.9
$173.4
$58.5
134.1
20.8
23.8
(0.1)
0.2
3.0
643.7
152.8
37.7
(52.2)
(0.1)
18.7
0.4
(1)
Retroactive biodiesel tax credit
(36.0)
Non-operating, pre-acquisition litigation contingent losses and related legal expenses
Total adjusting items:
6.7
(62.8)
0.3
Adjusted segment earnings
$580.9
$153.1
$37.7
Delek
(1) An adjustment for the portion of the retroactive biodiesel tax credit reenacted in December 2019 but that was attributable to 2018 has been adjusted out of the year ended December 31, 2019
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