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Subsequent Events
12 Months Ended
Dec. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Dividend Declaration
On February 19, 2019, Delek's Board of Directors voted to declare a quarterly cash dividend of $0.27 per share, payable on March 19, 2019, to stockholders of record on March 5, 2019. Our previous quarterly cash dividend amount was $0.26 per share.
2019 Amendments to Supply and Offtake Agreements
During January 2019, we amended the El Dorado refinery and the Krotz Springs refinery Supply and Offtake Agreements with J. Aron so that the repurchase of baseline volumes at the end of the Supply and Offtake Agreement term (representing the Baseline Step-Out Liabilities) will be based upon a fixed price instead of a market-indexed price. Such Baseline Step-Out Liabilities will continue to be recorded at fair value, where the fair value will reflect changes in interest rate risk rather than commodity price risk. As a result, we expect to record a gain on the change in fair value resulting from the modification of the instruments from commodities-based risk to interest rate risk in cost of materials and other totaling approximately $7.6 million in the first quarter of 2019. Subsequent accounting will result in the presentation of a long-term liability for the fair value of the fixed obligation on baseline volumes and current asset/liability fair value presentation of monthly short-term financing/funding activities, similar to the accounting for the amended Big Spring refinery Supply and Offtake Agreement described in Note 10.