8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

November 7, 2023

Date of Report (Date of earliest event reported)

DELEK LOGISTICS PARTNERS, LP

(Exact name of registrant as specified in its charter)

Delaware	001-35721		45-5379027
(State or other jurisdiction of incorporation)	(Commission File Number)		(IRS Employer Identification No.)
310 Seven Springs Way, Suite 500	Brentwood	Tennessee	37027
(Address of Principal Executive)			(Zip Code)

(615) 771-6701

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Units Representing Limited Partner Interests	DKL	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    

☐

Item 2.02 Results of Operations and Financial Condition

On November 7, 2023, Delek Logistics Partners, LP (the “Partnership”) announced its financial results for the quarter ended September 30, 2023. The full text of the press release is furnished as Exhibit 99.1 hereto.

The information in the attached Exhibit is being furnished pursuant to Item 2.02 “Results of Operations and Financial Condition” on Form 8-K. The information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, each as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01     Financial Statements and Exhibits.    

(d)	Exhibits.
99.1	Press Release of Delek Logistics Partners issued on November 7, 2023.
104	Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 7, 2023	DELEK LOGISTICS PARTNERS, LP
	By: Delek Logistics GP, LLC
	its General Partner
	/s/ Reuven Spiegel
	Name: Reuven Spiegel
	Title: Executive Vice President and Chief Financial Officer          (Principal Financial Officer)

EX-99.1

Exhibit 99.1

Delek Logistics Reports Third Quarter 2023 Results

•Net income attributable to all partners of $34.8 million

•Record quarterly EBITDA of $98.2 million

•Record throughput in Midland Gathering

•Distributable cash flow of $61.4 million

•Distributable cash flow coverage ratio of 1.35x

•Delivered 43 consecutive quarters of distribution growth with recent increase to $1.045/unit

BRENTWOOD, Tenn., November 7, 2023 -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") today announced its financial results for the third quarter 2023, with reported net income attributable to all partners of $34.8 million, or $0.80 per diluted common limited partner unit. This compares to net income attributable to all partners of $44.7 million, or $1.03 per diluted common limited partner unit, in the third quarter 2022. The decrease in net income attributable to all partners was driven by higher interest expense, partially offset by lower general and administrative expenses. Net cash provided in operating activities was $46.8 million in the third quarter 2023 compared to net cash provided by operating activities of $164.4 million in the third quarter 2022. Distributable cash flow was $61.4 million in the third quarter 2023, compared to $65.6 million in the third quarter 2022.

For the third quarter 2023, earnings before interest, taxes, depreciation and amortization ("EBITDA") was $98.2 million compared to $89.0 million in the third quarter 2022.

“Delek Logistics delivered another record quarter,” said Avigal Soreq, President of Delek Logistics' general partner. “We see significant value in gathering and processing in the Permian and are investing in the continued growth of our business. With its premier Permian location and by consistently delivering safe, reliable operations and stable cash flows, Delek Logistics is a great value opportunity."

“In October, the Board approved the 43rd consecutive increase in the quarterly distribution to $1.045 per unit. Given its portfolio, Delek Logistics is well positioned to exceed $100 million quarterly run-rate EBITDA and support on-going distributions," Mr. Soreq concluded.

Distribution and Liquidity

On October 25, 2023, Delek Logistics declared a quarterly cash distribution of $1.045 per common limited partner unit for the third quarter 2023. This distribution will be paid on November 13, 2023 to unitholders of record on November 6, 2023. This represents a 1.0% increase from the second quarter 2023 distribution of $1.035 per common limited partner unit, and a 5.6% increase over Delek Logistics’ third quarter 2022 distribution of $0.990 per common limited partner unit. For the third quarter 2023, the total cash distribution declared to all partners was approximately $45.6 million, resulting in a distributable cash flow coverage ratio of 1.35x.

As of September 30, 2023, Delek Logistics had total debt of approximately $1.74 billion and cash of $4.2 million. Additional borrowing capacity, subject to certain covenants, under the $900.0 million revolving credit facility was $89.0 million. The total leverage ratio as of September 30, 2023 of approximately 4.55x was within the requirements of the maximum allowable leverage ratio under the credit facility.

Consolidated Operating Results

Third quarter 2023 EBITDA of $98.2 million benefited from increased contribution from the Delek Permian Gathering system, Delaware Gathering system, terminalling and marketing rate increases and continued strong throughput on joint venture pipelines, partially offset by increased operating expenses as compared to EBITDA of $89.0 million in the third quarter 2022. Net income attributable to all partners for the third quarter 2023 of $34.8 million reflected a decrease of $9.8 million compared to the third quarter 2022.

Gathering and Processing Segment

EBITDA in the third quarter 2023 was $52.9 million compared with $56.6 million in the third quarter 2022. The decrease was primarily driven by a one-time credit received in the third quarter of 2022. Excluding this, third quarter 2023 results were higher than last year, due to increased throughput from our Permian assets.

Wholesale Marketing and Terminalling Segment

EBITDA in the third quarter 2023 was $28.1 million, approximately in line with third quarter 2022 EBITDA of $20.3 million. The increase was primarily due to higher terminalling utilization and improved wholesale margins.

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Storage and Transportation Segment

EBITDA in the third quarter 2023 was $17.9 million compared with $14.6 million in the third quarter 2022. The increase was primarily due to increased storage and transportation rates.

Investments in Pipeline Joint Ventures Segment

During the third quarter 2023, income from equity method investments was $9.3 million compared to $8.6 million in the third quarter 2022.

Corporate

EBITDA in the third quarter 2023 was a loss of $10.0 million million compared to a loss of $11.0 million in the third quarter 2022.

Third Quarter 2023 Results | Conference Call Information

Delek Logistics will hold a conference call to discuss its third quarter 2023 results on Tuesday, November 7, 2023 at 11:30 a.m. Central Time. Investors will have the opportunity to listen to the conference call live by going to www.DelekLogistics.com. Participants are encouraged to register at least 15 minutes early to download and install any necessary software. An archived version of the replay will also be available at www.DelekLogistics.com for 90 days.

About Delek Logistics Partners, LP

Delek Logistics is a midstream energy master limited partnership headquartered in Brentwood, Tennessee. Through its owned assets and joint ventures located primarily in and around the Permian Basin, the Delaware Basin and other select areas in the Gulf Coast region. Delek Logistics provides gathering, pipeline and other transportation services primarily for crude oil and natural gas customers, storage, wholesale marketing and terminalling services primarily for intermediate and refined product customers, and water disposal and recycling services. Delek US Holdings, Inc. ("Delek US") owns the general partner interest as well as a majority limited partner interest in Delek Logistics, and is also a significant customer.

Safe Harbor Provisions Regarding Forward-Looking Statements

This press release contains forward-looking statements that are based upon current expectations and involve a number of risks and uncertainties. Statements concerning current estimates, expectations and projections about future results, performance, prospects, opportunities, plans, actions and events and other statements, concerns, or matters that are not historical facts are “forward-looking statements,” as that term is defined under the federal securities laws. These statements contain words such as “possible,” “believe,” “should,” “could,” “would,” “predict,” “plan,” “estimate,” “intend,” “may,” “anticipate,” “will,” “if,” “expect” or similar expressions, as well as statements in the future tense, and can be impacted by numerous factors, including the fact that a substantial majority of Delek Logistics' contribution margin is derived from Delek US, thereby subjecting us to Delek US' business risks; risks relating to the securities markets generally; risks and costs relating to the age and operational hazards of our assets including, without limitation, costs, penalties, regulatory or legal actions and other effects related to releases, spills and other hazards inherent in transporting and storing crude oil and intermediate and finished petroleum products; the impact of adverse market conditions affecting the utilization of Delek Logistics' assets and business performance, including margins generated by its wholesale fuel business; risks and uncertainties related to the integration of the 3 Bear business following the recent acquisition; uncertainties regarding future decisions by OPEC regarding production and pricing disputes between OPEC members and Russia; an inability of Delek US to grow as expected as it relates to our potential future growth opportunities, including dropdowns, and other potential benefits; scheduled turnaround activity; the results of our investments in joint ventures; adverse changes in laws including with respect to tax and regulatory matters; and other risks as disclosed in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other reports and filings with the United States Securities and Exchange Commission. Forward-looking statements include, but are not limited to, statements regarding future growth at Delek Logistics; distributions and the amounts and timing thereof; potential dropdown inventory; projected benefits of the 3 Bear acquisition; expected earnings or returns from joint ventures or other acquisitions; expansion projects; ability to create long-term value for our unit holders; financial flexibility and borrowing capacity; and distribution growth of 5% or at all. Forward-looking statements should not be read as a guarantee of future performance or results and will not be accurate indications of the times at, or by, which such performance or results will be achieved.  Forward-looking information is based on information available at the time and/or management's good faith belief with respect to future events, and is subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements.  Delek Logistics undertakes no obligation to update or revise any such forward-looking statements to reflect events or circumstances that occur, or which Delek Logistics becomes aware of, after the date hereof, except as required by applicable law or regulation.

Non-GAAP Disclosures:

Our management uses certain "non-GAAP" operational measures to evaluate our operating segment performance and non-GAAP financial measures to evaluate past performance and prospects for the future to supplement our GAAP financial information presented in accordance with U.S. GAAP. These financial and operational non-GAAP measures are important factors in assessing our operating results and profitability and include:

•Earnings before interest, taxes, depreciation and amortization ("EBITDA") - calculated as net income before net interest expense, income tax expense, depreciation and amortization expense, including amortization of customer contract intangible assets, which is included as a component of net revenues in our accompanying condensed consolidated statements of income.

•Distributable cash flow - calculated as net cash flow from operating activities plus or minus changes in assets and liabilities, less maintenance capital expenditures net of reimbursements and other adjustments not expected to settle in cash. Delek Logistics believes this is an

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appropriate reflection of a liquidity measure by which users of its financial statements can assess its ability to generate cash.

•Distributable cash flow, as adjusted for transaction costs, or Distributable cash flow, as adjusted - distributable cash flow adjusted to exclude significant, infrequently occurring transaction costs.

Our EBITDA and distributable cash flow measures are non GAAP supplemental financial measures that management and external users of our condensed consolidated financial statements, such as industry analysts, investors, lenders and rating agencies, may use to assess:     

•Delek Logistics' operating performance as compared to other publicly traded partnerships in the midstream energy industry, without regard to historical cost basis or, in the case of EBITDA, financing methods;

•the ability of our assets to generate sufficient cash flow to make distributions to our unitholders on a current and on-going basis;

•Delek Logistics' ability to incur and service debt and fund capital expenditures; and

•the viability of acquisitions and other capital expenditure projects and the returns on investment of various investment opportunities.

We believe that the presentation of EBITDA and distributable cash flow measures provide information useful to investors in assessing our financial condition and results of operations and assists in evaluating our ongoing operating performance for current and comparative periods. EBITDA and distributable cash flow should not be considered alternatives to net income, operating income, cash flow from operating activities or any other measure of financial performance or liquidity presented in accordance with U.S. GAAP. EBITDA and distributable cash flow have important limitations as analytical tools because they exclude some, but not all, items that affect net income and net cash provided by operating activities. Additionally, because EBITDA and distributable cash flow may be defined differently by other partnerships in our industry, our definitions of EBITDA and distributable cash flow may not be comparable to similarly titled measures of other partnerships, thereby diminishing their utility. For a reconciliation of EBITDA and distributable cash flow to their most directly comparable financial measures calculated and presented in accordance with U.S. GAAP, please refer to "Results of Operations" below. See the accompanying tables in this earnings release for a reconciliation of these non-GAAP measures to the most directly comparable GAAP measures.

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Delek Logistics Partners, LP
Consolidated Balance Sheets (Unaudited)
(In thousands, except unit and per unit data)
	September 30, 2023		December 31, 2022
ASSETS
Current assets:
Cash and cash equivalents	$	4,182	$	7,970
Accounts receivable	41,271		53,314
Accounts receivable from related parties	67,089		—
Inventory	4,137		1,483
Other current assets	962		2,463
Total current assets	117,641		65,230
Property, plant and equipment:
Property, plant and equipment	1,306,172		1,240,684
Less: accumulated depreciation	(369,476)		(316,680)
Property, plant and equipment, net	936,696		924,004
Equity method investments	241,937		257,022
Customer relationship intangible, net	185,862		199,440
Marketing contract intangible, net	103,958		109,366
Rights-of-way, net	58,047		55,990
Goodwill	27,051		27,051
Operating lease right-of-use assets	20,983		24,788
Other non-current assets	17,289		16,408
Total assets	$	1,709,464	$	1,679,299
LIABILITIES AND DEFICIT
Current liabilities:
Accounts payable	$	27,989	$	57,403
Accounts payable to related parties	—		6,055
Current portion of long-term debt	15,000		15,000
Interest payable	16,889		5,308
Excise and other taxes payable	11,951		8,230
Current portion of operating lease liabilities	8,052		8,020
Accrued expenses and other current liabilities	5,483		6,202
Total current liabilities	85,364		106,218
Non-current liabilities:
Long-term debt, net of current portion	1,726,429		1,646,567
Operating lease liabilities, net of current portion	9,228		12,114
Asset retirement obligations	9,862		9,333
Other non-current liabilities	17,733		15,767
Total non-current liabilities	1,763,252		1,683,781
Total liabilities	1,848,616		1,789,999
Equity (Deficit):
Common unitholders - public; 9,284,741 units issued and outstanding at September 30, 2023 (9,257,305 at December 31, 2022)	165,472		172,119
Common unitholders - Delek Holdings; 34,311,278 units issued and outstanding at September 30, 2023 (34,311,278 at December 31, 2022)	(304,624)		(282,819)
Total deficit	(139,152)		(110,700)
Total liabilities and deficit	$	1,709,464	$	1,679,299

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Delek Logistics Partners, LP
Consolidated Statement of Income and Comprehensive Income (Unaudited)
(In thousands, except unit and per unit data)
	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Net revenues:
Affiliate	$	156,411	$	127,150	$	414,403	$	375,270
Third-party	119,413		166,875		351,857		392,086
Net revenues	275,824		294,025		766,260		767,356
Cost of sales:
Cost of materials and other - affiliate	115,149		124,714		298,262		374,329
Cost of materials and other - third party	35,479		53,026		106,587		105,966
Operating expenses (excluding depreciation and amortization presented below)	32,611		25,065		85,302		62,892
Depreciation and amortization	23,261		19,067		65,494		41,876
Total cost of sales	206,500		221,872		555,645		585,063
Operating expenses related to wholesale business (excluding depreciation and amortization presented below)	392		836		1,397		2,105
General and administrative expenses	5,545		11,959		19,666		30,826
Depreciation and amortization	1,324		473		3,923		1,421
Gain on disposal of assets	(491)		(132)		(804)		(120)
Total operating costs and expenses	213,270		235,008		579,827		619,295
Operating income	62,554		59,017		186,433		148,061
Interest expense, net	36,901		22,559		104,581		53,621
Income from equity method investments	(9,296)		(8,567)		(22,897)		(22,666)
Other income, net	(3)		(36)		(24)		(39)
Total non-operating expenses, net	27,602		13,956		81,660		30,916
Income before income tax expense	34,952		45,061		104,773		117,145
Income tax expense	127		387		685		793
Net income attributable to partners	$	34,825	$	44,674	$	104,088	$	116,352
Comprehensive income attributable to partners	$	34,825	$	44,674	$	104,088	$	116,352
Net income per limited partner unit:
Basic	$	0.80	$	1.03	$	2.39	$	2.68
Diluted	$	0.80	$	1.03	$	2.39	$	2.67
Weighted average limited partner units outstanding:
Basic	43,588,316		43,485,779		43,578,636		43,477,801
Diluted	43,604,791		43,515,960		43,598,547		43,499,837
Cash distribution per common limited partner unit	$	1.045	$	0.990	$	3.105	$	2.955

Delek Logistics Partners, LP
Condensed Consolidated Statements of Cash Flows (In thousands)	Three Months Ended September 30,				Nine Months Ended September 30,
(Unaudited)	2023		2022		2023		2022
Cash flows from operating activities
Net cash provided by operating activities	$	46,828	$	164,425	$	110,630	$	297,482
Cash flows from investing activities
Net cash used in investing activities	(741)		(45,760)		(55,634)		(705,087)
Cash flows from financing activities
Net cash (used in) provided by financing activities	(49,620)		(117,530)		(58,784)		418,258
Net (decrease) increase in cash and cash equivalents	(3,533)		1,135		(3,788)		10,653
Cash and cash equivalents at the beginning of the period	7,715		13,810		7,970		4,292
Cash and cash equivalents at the end of the period	$	4,182	$	14,945	$	4,182	$	14,945

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Delek Logistics Partners, LP
Reconciliation of Amounts Reported Under U.S. GAAP
(In thousands)
	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Reconciliation of Net Income to EBITDA:
Net income	$	34,825	$	44,674	$	104,088	$	116,352
Add:
Income tax expense	127		387		685		793
Depreciation and amortization	24,585		19,540		69,417		43,297
Amortization of marketing contract intangible asset	1,803		1,802		5,408		5,408
Interest expense, net	36,901		22,559		104,581		53,621
EBITDA	$	98,241	$	88,962	$	284,179	$	219,471
Reconciliation of net cash from operating activities to distributable cash flow:
Net cash provided by operating activities	$	46,828	$	164,425	$	110,630	$	297,482
Changes in assets and liabilities	16,439		(94,450)		81,368		(115,358)
Non-cash lease expense	(2,960)		(2,100)		(7,407)		(13,584)
Distributions from equity method investments in investing activities	3,037		—		4,477		1,737
Regulatory capital expenditures not distributable	(2,069)		(2,143)		(5,924)		(3,183)
(Refund to) reimbursement from Delek Holdings for capital expenditures	(69)		19		942		5
Accretion of asset retirement obligations	(177)		(168)		(529)		(415)
Deferred income taxes	(124)		(76)		(753)		(76)
Gain on disposal of assets	491		132		804		120
Distributable Cash Flow	$	61,396	$	65,639	$	183,608	$	166,728
Transaction costs	—		4,211		—		10,604
Distributable Cash Flow, as adjusted	$	61,396	$	69,850	$	183,608	$	177,332

Delek Logistics Partners, LP
Distributable Coverage Ratio Calculation
(In thousands)
	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Distributions to partners of Delek Logistics, LP	$	45,558	$	43,057	$	135,334	$	128,493
Distributable cash flow	$	61,396	$	65,639	$	183,608	$	166,728
Distributable cash flow coverage ratio (1)	1.35x		1.52x		1.36x		1.30x
Distributable cash flow, as adjusted (2)	61,396		69,850		183,608		177,332
Distributable cash flow coverage ratio, as adjusted (3)	1.35x		1.62x		1.36x		1.38x

(1) Distributable cash flow coverage ratio is calculated by dividing distributable cash flow by distributions to be paid in each respective period.

(2) Distributable cash flow adjusted to exclude transaction costs associated with the Delaware Gathering Acquisition (formerly 3 Bear).

(3) Distributable cash flow coverage ratio, as adjusted is calculated by dividing distributable cash flow, as adjusted for transaction costs by distributions to be paid in each respective period.

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Delek Logistics Partners, LP

Segment Data (Unaudited)

(In thousands)

	Three Months Ended September 30, 2023
	Gathering and Processing		Wholesale Marketing and Terminalling		Storage and Transportation		Investments in Pipeline Joint Ventures		Corporate and Other		Consolidated
Net revenues:
Affiliate	$	55,419	$	70,610	$	30,382	$	—	$	—	$	156,411
Third party	39,406		76,500		3,507		—		—		119,413
Total revenue	$	94,825	$	147,110	$	33,889	$	—	$	—	$	275,824
Segment EBITDA	$	52,906	$	28,135	$	17,914	$	9,288	$	(10,002)	$	98,241
Depreciation and amortization	19,263		1,769		2,704		—		849		24,585
Amortization of customer contract intangible	—		1,803		—		—		—		1,803
Interest expense, net	—		—		—		—		36,901		36,901
Income tax benefit											127
Net income											$	34,825
Capital spending	$	12,002	$	2,123	$	522	$	—	$	—	$	14,647

	Three Months Ended September 30, 2022
	Gathering and Processing		Wholesale Marketing and Terminalling		Storage and Transportation		Investments in Pipeline Joint Ventures		Corporate and Other		Consolidated
Net revenues:
Affiliate	$	48,377	$	45,162	$	33,611					$	127,150
Third party	60,233		102,703		3,939		—		—		166,875
Total revenue	$	108,610	$	147,865	$	37,550	$	—	$	—	$	294,025
Segment EBITDA	$	56,551	$	20,272	$	14,575	$	8,567	$	(11,003)	$	88,962
Depreciation and amortization	17,779		1,628		2,087		—		(1,954)		19,540
Amortization of customer contract intangible	—		1,802		—		—		—		1,802
Interest expense, net	—		—		—		—		22,559		22,559
Income tax benefit											387
Net income											$	44,674
Capital spending	$	30,895	$	1,065	$	—	$	—	$	—	$	31,960

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	Nine Months Ended September 30, 2023
	Gathering and Processing		Wholesale Marketing and Terminalling		Storage and Transportation		Investments in Pipeline Joint Ventures		Corporate and Other		Consolidated
Net revenues:
Affiliate	$	157,362	$	156,437	$	100,604	$	—	$	—	$	414,403
Third party	123,132		221,809		6,916		—		—		351,857
Total revenue	$	280,494	$	378,246	$	107,520	$	—	$	—	$	766,260
Segment EBITDA	$	161,014	$	78,071	$	46,316	$	22,889	$	(24,111)	$	284,179
Depreciation and amortization	54,511		5,338		7,109		—		2,459		69,417
Amortization of customer contract intangible	—		5,408		—		—		—		5,408
Interest expense, net	—		—		—		—		104,581		104,581
Income tax expense											685
Net income											$	104,088
Capital spending	$	62,168	$	2,527	$	3,933	$	—	$	—	$	68,628

	Nine Months Ended September 30, 2022
	Gathering and Processing		Wholesale Marketing and Terminalling		Storage and Transportation		Investments in Pipeline Joint Ventures		Corporate and Other		Consolidated
Net revenues:
Affiliate	$	134,315	$	144,004	$	96,951	$	—	$	—	$	375,270
Third party	81,165		300,177		10,744		—		—		392,086
Total revenue	$	215,480	$	444,181	$	107,695	$	—	$	—	$	767,356
Segment EBITDA	$	127,129	$	59,813	$	40,212	$	22,666	$	(30,349)	$	219,471
Depreciation and amortization	32,260		4,674		6,363		—		—		43,297
Amortization of customer contract intangible	—		5,408		—		—		—		5,408
Interest expense, net	—		—		—		—		53,621		53,621
Income tax expense											793
Net income											$	116,352
Capital spending	$	66,388	$	1,384	$	—	$	—	$	—	$	67,772

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Delek Logistics Partners, LP
Segment Capital Spending
(In thousands)
	Three Months Ended September 30,				Nine Months Ended September 30,
Gathering and Processing	2023		2022		2023		2022
Regulatory capital spending	$	31	$	485	$	31	$	2,692
Sustaining capital spending	980		222		980		351
Growth capital spending	10,991		30,188		61,157		63,345
Segment capital spending	$	12,002	$	30,895	$	62,168	$	66,388
Wholesale Marketing and Terminalling
Regulatory capital spending	$	292	$	—	371		156
Sustaining capital spending	1,679		—		754		12
Growth capital spending	152		1,065		1,402		1,216
Segment capital spending	$	2,123	$	1,065	$	2,527	$	1,384
Storage and Transportation
Regulatory capital spending	$	522	$	—	$	1,670	$	—
Sustaining capital spending	—		—		2,263		—
Growth capital spending	—		—		$	—	$	—
Segment capital spending	$	522	$	—	$	3,933	$	—
Consolidated
Regulatory capital spending	$	845	$	485	$	2,072	$	2,848
Sustaining capital spending	2,659		222		3,997		363
Growth capital spending	11,143		31,253		62,559		64,561
Total capital spending	$	14,647	$	31,960	$	68,628	$	67,772

Delek Logistics Partners, LP
Segment Operating Data (Unaudited)
	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Gathering and Processing Segment:
Throughputs (average bpd)
El Dorado Assets:
Crude pipelines (non-gathered)	70,153		87,653		64,835		81,795
Refined products pipelines to Enterprise Systems	63,991		65,761		54,686		63,391
El Dorado Gathering System	14,774		14,354		13,935		16,150
East Texas Crude Logistics System	36,298		23,960		29,928		20,015
Midland Gathering System (1):	248,443		121,304		230,907		107,699
Plains Connection System	250,550		184,254		248,763		166,864
Delaware Gathering Assets (2):
Natural Gas Gathering and Processing (Mcfd(3))	69,737		64,429		72,569		61,198
Crude Oil Gathering (average bpd)	111,973		86,483		110,935		84,497
Water Disposal and Recycling (average bpd)	99,158		69,411		104,920		66,043
Wholesale Marketing and Terminalling Segment:
East Texas - Tyler Refinery sales volumes (average bpd) (4)	69,178		65,396		57,894		66,473
Big Spring marketing throughputs (average bpd)	81,617		74,238		78,399		76,135
West Texas marketing throughputs (average bpd)	10,692		10,082		9,871		10,023
West Texas gross margin per barrel	$	4.56	$	4.23	$	5.43	$	3.84
Terminalling throughputs (average bpd) (5)	121,430		142,003		116,455		138,558

(1) Formerly known as the Permian Gathering Assets.

(2) Volumes for the nine months ended September 30, 2022 are for period from June 1 through September 30, 2022 we owned Delaware Gathering Assets.

(3) Mcfd - average thousand cubic feet per day.

(4) Excludes jet fuel and petroleum coke.

(5) Consists of terminalling throughputs at our Tyler, Big Spring, Big Sandy and Mount Pleasant, Texas, El Dorado and North Little Rock, Arkansas and Memphis and Nashville, Tennessee terminals.

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Investor Relations and Media/Public Affairs Contact:

Rosy Zuklic, Vice President of Investor Relations and Market Intelligence

investor.relations@delekus.com; rosy.zuklic@delekus.com; 615-767-4344

Information about Delek Logistics Partners, LP can be found on its website (www.deleklogistics.com), investor relations webpage (https://www.deleklogistics.com/investor-relations), news webpage (https://www.deleklogistics.com/news-releases) and its Twitter account (@DelekLogistics).

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XML

Cover Page Document	Nov. 07, 2023
Cover [Abstract]
Entity Central Index Key	0001552797
Title of 12(b) Security	Common Units Representing Limited Partner Interests
Local Phone Number	771-6701
Entity Incorporation, State or Country Code	DE
Document Period End Date	Nov. 07, 2023
Document Type	8-K
Entity Registrant Name	DELEK LOGISTICS PARTNERS, LP
City Area Code	615
Entity File Number	001-35721
Entity Tax Identification Number	45-5379027
Entity Address, Address Line One	310 Seven Springs Way, Suite 500
Entity Address, City or Town	Brentwood
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	37027
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Trading Symbol	DKL
Security Exchange Name	NYSE
Amendment Flag	false
Entity Address, Address Line Two	310 Seven Springs Way, Suite 500