Delek Logistics Partners LP's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Delek Logistics Partners LP reported revenue of $1.0B (+7.7% year on year) and net income of $176.5M (+23.7% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net revenues | $1.0B | $940.6M | $1.0B | $1.0B |
| Cost of materials and other | $509.3M | $483.7M | $532.6M | $641.4M |
| Operating expenses (excluding depreciation and amortization presented below) | $166.8M | $122.0M | $115.7M | $85.4M |
| Depreciation and amortization | $122.1M | $91.1M | $87.1M | $60.2M |
| Total cost of sales | $798.2M | $696.9M | $735.4M | $787.0M |
| Operating expenses related to wholesale business (excluding depreciation and amortization presented below) | $1.6M | $714.0K | $2.4M | $2.9M |
| General and administrative expenses | $28.6M | $35.9M | $24.8M | $34.2M |
| Depreciation and amortization | $3.5M | $5.2M | $5.2M | $2.8M |
| Impairment of goodwill | $0 | $0 | $14.8M | — |
| Other operating income, net | ($436.0K) | ($978.0K) | ($1.3M) | ($114.0K) |
| Total operating costs and expenses | $831.5M | $737.8M | $781.5M | $826.7M |
| Operating income | $181.8M | $202.8M | $238.9M | $209.7M |
| Interest income | ($112.5M) | ($47.8M) | — | — |
| Interest expense | $179.3M | $151.0M | — | — |
| Income from equity method investments | ($61.8M) | ($43.3M) | ($31.4M) | ($31.7M) |
| Other income, net | ($60.0K) | ($205.0K) | ($303.0K) | ($373.0K) |
| Total non-operating expenses, net | $4.9M | $59.7M | $111.5M | $50.2M |
| Income before income tax expense | $176.9M | $143.2M | $127.4M | $159.4M |
| Income tax expense | $458.0K | $479.0K | $1.2M | $382.0K |
| Net income | $176.5M | $142.7M | $126.2M | $159.1M |
| Comprehensive income | $176.5M | $142.7M | $126.2M | $159.1M |
| Less: Preferred unitholder's interest in net income | $0 | $768.0K | — | — |
| Net income attributable to limited partners | $176.5M | $141.9M | — | — |
| Basic (in dollars per unit) | $3.3 | $2.99 | $2.9 | $3.66 |
| Diluted (in dollars per unit) | $3.3 | $2.99 | $2.89 | $3.66 |
| Basic (in units) | 53.5M | 47.5M | 43.6M | 43.5M |
| Diluted (in units) | 53.6M | 47.5M | 43.6M | 43.5M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Net revenues | $384.8M | $297.5M | $261.3M | $246.3M |
| Cost of materials and other | $239.0M | $168.6M | $129.7M | $119.4M |
| Operating expenses (excluding depreciation and amortization presented below) | $42.8M | $46.6M | $43.5M | $37.5M |
| Depreciation and amortization | $36.9M | $35.4M | $34.1M | $25.9M |
| Total cost of sales | $318.7M | $250.6M | $207.3M | $182.8M |
| Operating expenses related to wholesale business (excluding depreciation and amortization presented below) | $543.0K | $449.0K | $381.0K | $549.0K |
| General and administrative expenses | $3.3M | $4.3M | $4.5M | $8.9M |
| Depreciation and amortization | $491.0K | $1.1M | $671.0K | $1.2M |
| Other operating expense (income), net | ($120.0K) | $1.0M | $3.0M | $438.0K |
| Total operating costs and expenses | $322.9M | $257.5M | $215.9M | $193.9M |
| Operating income | $61.9M | $40.0M | $45.4M | $52.4M |
| Interest income | ($22.5M) | ($32.3M) | ($26.7M) | ($23.5M) |
| Interest expense | $70.1M | $51.6M | $48.0M | $41.7M |
| Income from equity method investments | ($14.5M) | ($11.6M) | ($21.9M) | ($10.5M) |
| Other income, net | ($29.0K) | ($27.0K) | $67.0K | ($20.0K) |
| Total non-operating expenses, net | $33.0M | $7.7M | ($536.0K) | $7.6M |
| Income before income tax expense | $28.9M | $32.4M | $45.9M | $44.8M |
| Income tax expense | $0 | $0 | $344.0K | $245.0K |
| Net income | $28.9M | $32.4M | $45.6M | $44.6M |
| Comprehensive income | $28.9M | $32.4M | $45.6M | $44.6M |
| Basic (in dollars per unit) | $0.54 | $0.6 | $0.85 | $0.83 |
| Diluted (in dollars per unit) | $0.54 | $0.6 | $0.85 | $0.83 |
| Basic (in units) | 53.2M | 53.5M | 53.5M | 53.4M |
| Diluted (in units) | 53.2M | 53.6M | 53.5M | 53.5M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $10.9M | $5.4M | $3.8M | $8.0M |
| Accounts receivable | $331.2M | $88.0M | $69.6M | $53.3M |
| Lease receivable - affiliate | $36.4M | $22.8M | — | — |
| Inventory | $17.9M | $5.4M | $2.3M | $1.5M |
| Other current assets | $4.4M | $24.3M | $676.0K | $2.5M |
| Total current assets | $400.8M | $145.9M | $76.3M | $65.2M |
| Property, plant and equipment | $1.8B | $1.4B | $1.3B | $1.2B |
| Less: accumulated depreciation | ($403.5M) | ($311.1M) | ($384.4M) | ($316.7M) |
| Property, plant and equipment, net | $1.4B | $1.1B | $936.2M | $924.0M |
| Equity method investments | $340.1M | $317.2M | $241.3M | $257.0M |
| Customer relationship intangibles, net | $233.0M | $186.9M | $283.5M | $308.8M |
| Other intangibles, net | $137.4M | $94.5M | — | — |
| Goodwill | $12.2M | $12.2M | $12.2M | $27.1M |
| Operating lease right-of-use assets | $11.7M | $16.7M | $19.0M | $24.8M |
| Finance lease right-of-use assets | $27.8M | — | — | — |
| Net lease investment - affiliate | $185.7M | $193.1M | — | — |
| Other non-current assets | $6.6M | $10.8M | $14.2M | $16.4M |
| Total assets | $2.8B | $2.0B | $1.6B | $1.7B |
| Accounts payable | $292.9M | $41.4M | $26.3M | $57.4M |
| Interest payable | $30.6M | $30.7M | $5.8M | $5.3M |
| Excise and other taxes payable | $16.6M | $6.8M | $10.3M | $8.2M |
| Current portion of operating lease liabilities | $3.0M | $5.3M | $6.7M | $8.0M |
| Current portion of finance lease liabilities | $8.3M | — | — | — |
| Accrued expenses and other current liabilities | $5.1M | $4.6M | $11.5M | $6.2M |
| Total current liabilities | $356.5M | $88.8M | $90.6M | $106.2M |
| Long-term debt, net of current portion | $2.3B | $1.9B | $1.7B | $1.6B |
| Operating lease liabilities, net of current portion | $3.6M | $6.0M | $8.3M | $12.1M |
| Finance lease liabilities, net of current portion | $20.3M | — | — | — |
| Asset retirement obligations | $24.3M | $15.6M | $10.0M | $9.3M |
| Other non-current liabilities | $24.1M | $20.2M | $21.4M | $15.8M |
| Total non-current liabilities | $2.4B | $1.9B | $1.7B | $1.7B |
| Total equity (deficit) | $6.1M | $35.5M | ($161.9M) | ($110.7M) |
| Total liabilities and equity | $2.8B | $2.0B | $1.6B | $1.7B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $13.7M | $9.9M | $6.9M | $1.4M |
| Accounts receivable | $394.4M | $452.9M | $334.2M | $370.0M |
| Lease receivable - affiliate | $33.2M | $47.7M | $21.6M | $19.6M |
| Inventory | $23.7M | $21.0M | $18.6M | $17.1M |
| Other current assets | $5.1M | $4.9M | $1.4M | $1.7M |
| Total current assets | $470.1M | $536.3M | $382.8M | $409.8M |
| Property, plant and equipment | $1.9B | $1.9B | $1.8B | $1.8B |
| Less: accumulated depreciation | ($460.1M) | ($431.6M) | ($375.6M) | ($351.0M) |
| Property, plant and equipment, net | $1.5B | $1.4B | $1.4B | $1.4B |
| Equity method investments | $335.7M | $333.8M | $325.8M | $320.2M |
| Customer relationship intangibles, net | $221.9M | $227.4M | $238.6M | $245.5M |
| Other intangibles, net | $145.7M | $142.8M | $134.2M | $132.7M |
| Goodwill | $12.2M | $12.2M | $12.2M | $12.2M |
| Operating lease right-of-use assets | $9.0M | $10.7M | $12.8M | $14.3M |
| Finance lease right-of-use assets | $29.3M | $28.2M | — | — |
| Net investment in leases - affiliate | $156.4M | $158.7M | $186.6M | $188.0M |
| Other non-current assets | $13.8M | $14.1M | $35.4M | $26.3M |
| Total assets | $2.9B | $2.9B | $2.7B | $2.8B |
| Accounts payable | $427.1M | $508.5M | $308.4M | $382.4M |
| Interest payable | $24.4M | $26.9M | $27.9M | $29.7M |
| Excise and other taxes payable | $21.2M | $7.8M | $17.9M | $16.7M |
| Current portion of operating lease liabilities | $2.2M | $2.5M | $3.5M | $4.3M |
| Current portion of finance lease liabilities | $9.8M | $9.0M | — | — |
| Accrued expenses and other current liabilities | $4.7M | $6.3M | $12.6M | $9.6M |
| Total current liabilities | $489.3M | $561.0M | $370.2M | $442.6M |
| Long-term debt, net of current portion | $2.4B | $2.3B | $2.3B | $2.2B |
| Operating lease liabilities, net of current portion | $2.6M | $3.1M | $4.1M | $4.8M |
| Finance lease liabilities, net of current portion | $20.5M | $20.0M | — | — |
| Asset retirement obligations | $26.2M | $25.2M | $23.4M | $25.3M |
| Other non-current liabilities | $28.5M | $25.0M | $43.6M | $36.8M |
| Total non-current liabilities | $2.5B | $2.4B | $2.4B | $2.3B |
| Total (deficit) equity | ($69.3M) | ($20.2M) | $17.5M | $32.0M |
| Total liabilities and partners' (deficit) equity | $2.9B | $2.9B | $2.7B | $2.8B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $176.5M | $142.7M | $126.2M | $159.1M |
| Depreciation and amortization | $125.6M | $96.4M | $92.4M | $63.0M |
| Non-cash lease expense | $6.2M | $8.1M | $9.5M | $16.3M |
| Amortization of marketing contract intangible | $0 | $4.2M | $7.2M | $7.2M |
| Amortization of deferred revenue | ($4.7M) | ($3.0M) | ($1.8M) | ($1.8M) |
| Amortization of deferred financing costs and debt discount | $5.9M | $5.2M | $6.3M | $3.9M |
| Impairment of goodwill | $0 | $0 | $14.8M | — |
| Income from equity method investments | ($61.8M) | ($43.3M) | ($31.4M) | ($31.7M) |
| Dividends from equity method investments | $24.9M | $42.9M | $28.7M | $23.0M |
| Other non-cash adjustments | $6.2M | ($1.7M) | $2.7M | $2.7M |
| Accounts receivable | ($43.4M) | ($7.0M) | $21.6M | ($9.1M) |
| Inventories and other current assets | ($5.0M) | ($620.0K) | ($131.0K) | $2.2M |
| Accounts payable and other current liabilities | $242.5M | $8.5M | ($20.7M) | $18.6M |
| Accounts receivable/payable to related parties | ($237.9M) | ($62.5M) | ($34.5M) | ($58.4M) |
| Net investment in leases - affiliate | ($6.1M) | $11.9M | — | — |
| Non-current assets and liabilities, net | $8.2M | $812.0K | $4.3M | ($2.8M) |
| Net cash provided by operating activities | $237.1M | $206.3M | $225.3M | $192.2M |
| Asset acquisitions from Delek Holdings | $0 | ($83.9M) | — | $0 |
| Purchases of property, plant and equipment | ($267.8M) | ($129.0M) | ($96.1M) | ($141.1M) |
| Proceeds from sales of property, plant and equipment | $3.7M | $9.9M | $1.7M | $143.0K |
| Purchases of intangible assets | ($12.5M) | ($2.8M) | ($4.2M) | ($5.6M) |
| Business combination, net of cash acquired | ($181.2M) | ($182.5M) | $0 | ($625.6M) |
| Distributions from equity method investments | $15.6M | $4.3M | $9.0M | $1.7M |
| Equity method investment contributions | ($2.1M) | ($500.0K) | $0 | $0 |
| Net cash used in investing activities | ($444.2M) | ($384.6M) | ($89.6M) | ($770.4M) |
| Distributions to common unitholders - public | ($87.2M) | ($57.1M) | ($38.5M) | ($35.9M) |
| Distributions to common unitholders - Delek Holdings | ($151.0M) | ($147.6M) | ($141.5M) | ($135.2M) |
| Proceeds from term debt | $700.0M | $1.1B | $0 | $298.5M |
| Payments on term debt | $0 | ($531.3M) | ($18.8M) | — |
| Proceeds from revolving facility | $1.3B | $1.3B | $431.8M | $1.8B |
| Payments on revolving facility | ($1.5B) | ($1.7B) | ($371.8M) | ($1.3B) |
| Redemption of preferred units | $0 | ($70.8M) | — | — |
| Unit repurchase | ($10.0M) | — | — | — |
| Proceeds from issuance of common units, net of underwriters' discount | $0 | $297.9M | $0 | $3.1M |
| Proceeds from other financing agreements | $0 | $0 | — | — |
| Payments on other financing agreements | $0 | ($6.2M) | — | — |
| Payments on finance leases | ($5.0M) | ($839.0K) | ($2.9M) | ($2.9M) |
| Deferred financing costs paid | ($10.7M) | ($18.1M) | ($4.5M) | ($8.2M) |
| Other financing activities | $0 | — | $6.2M | — |
| Net cash provided by (used in) financing activities | $212.6M | $179.9M | ($139.9M) | $581.9M |
| Net increase (decrease) in cash and cash equivalents | $5.5M | $1.6M | ($4.2M) | $3.7M |
| Cash and cash equivalents at the beginning of the period | $5.4M | $3.8M | $8.0M | $4.3M |
| Cash and cash equivalents at the end of the period | $10.9M | $5.4M | $3.8M | $8.0M |
| Interest, net of capitalized interest of $7.9 million, $2.6 million and $1.1 million in the 2025, 2024 and 2023 periods, respectively | $173.5M | $117.3M | $136.4M | $78.1M |
| Income taxes | $0 | $0 | $20.0K | $43.0K |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $61.2M | $32.4M | $129.2M | $83.6M |
| Depreciation and amortization | $73.9M | $36.5M | $89.6M | $54.8M |
| Non-cash lease expense | $2.8M | $1.1M | $5.0M | $3.6M |
| Amortization of deferred revenue | ($4.1M) | ($1.9M) | ($2.1M) | ($1.7M) |
| Amortization of deferred financing costs and debt discount | $3.2M | $1.6M | $4.3M | $2.7M |
| Income from equity method investments | ($26.1M) | ($11.6M) | ($42.6M) | ($20.7M) |
| Dividends from equity method investments | $22.4M | $12.9M | $21.4M | $11.7M |
| Loss on extinguishment of debt | $23.0M | $1.6M | $0 | $0 |
| Other non-cash adjustments | $5.7M | $3.6M | $4.1M | ($632.0K) |
| Accounts receivable | ($20.3M) | ($32.0M) | ($20.7M) | ($26.4M) |
| Inventories and other current assets | ($6.5M) | ($3.5M) | ($2.8M) | ($1.5M) |
| Accounts payable and other current liabilities | $127.2M | $200.9M | $269.4M | $323.0M |
| Accounts receivable/payable to related parties | ($42.9M) | ($89.6M) | ($263.6M) | ($297.5M) |
| Net investment in leases - affiliate | $13.4M | $15.7M | $7.7M | $8.3M |
| Non-current assets and liabilities, net | $8.6M | $2.8M | ($5.1M) | ($291.0K) |
| Net cash provided by operating activities | $241.6M | $170.4M | $193.9M | $139.0M |
| Purchases of property, plant and equipment | ($108.1M) | ($48.5M) | ($237.1M) | ($169.9M) |
| Proceeds from sales of property, plant and equipment | $104.0K | $76.0K | $3.4M | $4.9M |
| Purchases of intangible assets | ($9.2M) | ($5.9M) | ($8.9M) | ($7.0M) |
| Business combination, net of cash acquired | $0 | $0 | ($181.2M) | ($181.2M) |
| Distributions from equity method investments | $8.1M | $5.0M | $12.2M | $5.6M |
| Net cash used in investing activities | ($109.1M) | ($49.3M) | ($411.7M) | ($347.7M) |
| Distributions to common unitholders - public | ($44.3M) | ($22.1M) | ($65.2M) | ($43.3M) |
| Distributions to common unitholders - Delek Holdings | ($76.0M) | ($38.1M) | ($113.0M) | ($75.3M) |
| Proceeds from term debt | $800.0M | — | $700.0M | $700.0M |
| Payments on term debt | ($800.0M) | — | $0 | $0 |
| Proceeds from revolving facility | $2.1B | $882.5M | $1.1B | $829.9M |
| Payments on revolving facility | ($2.1B) | ($933.3M) | ($1.4B) | ($1.2B) |
| Unit repurchase | $0 | $0 | ($10.0M) | ($10.0M) |
| Deferred financing costs paid | ($23.4M) | ($9.0M) | ($10.9M) | ($10.8M) |
| Debt extinguishment costs paid | ($17.8M) | — | — | — |
| Other financing activities | ($4.4M) | $0 | ($3.1M) | ($1.3M) |
| Net cash (used in) provided by financing activities | ($129.7M) | ($122.1M) | $219.3M | $204.8M |
| Net increase (decrease) in cash and cash equivalents | $2.8M | ($985.0K) | $1.5M | ($3.9M) |
| Cash and cash equivalents at the beginning of the period | $10.9M | $10.9M | $5.4M | $5.4M |
| Cash and cash equivalents at the end of the period | $13.7M | $9.9M | $6.9M | $1.4M |
| Interest, net of capitalized interest of $2.1 million and $5.6 million in the 2026 and 2025 periods, respectively | $101.6M | $52.0M | $129.3M | $81.1M |
| Units transferred from Delek Holdings held in Treasury | $19.0M | — | — | — |
| Inventory received in connection with DPG Dropdown | $0 | — | $6.9M | $6.9M |
| Forgiveness of related party receivable in connection with DPG Dropdown | $0 | — | $58.8M | $58.8M |
| Common units issued in connection with Gravity Acquisition | $0 | $0 | $91.5M | $91.5M |
| Increase in accrued capital expenditures | $2.6M | $1.3M | $3.6M | $21.2M |
| Lease liability arising from obtaining operating right-of-use assets during the period | $0 | $0 | — | — |
| Lease liability arising from obtaining finance right-of-use assets during the period | $6.2M | $2.6M | — | — |
| Decrease in right-of-use assets due to lease terminations during the period | $41.0K | $41.0K | $1.2M | $1.2M |
Delek Logistics Partners LP score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.