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Selected Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2019
Selected Quarterly Financial Information [Abstract]  
Schedule of Quarterly Financial Information
Quarterly financial information for the years ended December 31, 2019 and 2018 is summarized below. The sum of the quarterly results may differ from the annual results presented on our consolidated income statement due to rounding. The quarterly financial information summarized below has been prepared by Delek's management and is unaudited (in millions, except per share data).
 
 
For the Three Month Periods Ended
 
 
March 31, 2019
 
June 30, 2019
 
September 30, 2019
 
December 31, 2019(1)
Net revenues
 
$
2,199.9

 
$
2,480.3

 
$
2,334.3

 
$
2,283.7

Operating income
 
$
222.4

 
$
134.3

 
$
87.4

 
$
48.2

Net income from continuing operations
 
$
154.4

 
$
84.6

 
$
60.0

 
$
32.0

Net income
 
$
154.4

 
$
83.8

 
$
60.0

 
$
38.0

Net income attributable to Delek
 
$
149.3

 
$
77.3

 
$
51.3

 
$
32.7

Basic income per share from continuing operations
 
$
1.92

 
$
1.02

 
$
0.68

 
$
0.36

Diluted income per share from continuing operations
 
$
1.90

 
$
1.01

 
$
0.68

 
$
0.36

 
 
For the Three Month Periods Ended
 
 
March 31, 2018(2)
 
June 30, 2018
 
September 30, 2018
 
December 31, 2018(3)
Net revenues
 
$
2,353.2

 
$
2,636.9

 
$
2,768.9

 
$
2,474.1

Operating income
 
$
38.8

 
$
135.1

 
$
255.2

 
$
182.8

Net (loss) income from continuing operations
 
$
(17.3
)
 
$
87.5

 
$
185.8

 
$
127.6

Net (loss) income
 
$
(25.5
)
 
$
86.7

 
$
186.3

 
$
127.4

Net (loss) income attributable to Delek
 
$
(40.4
)
 
$
79.1

 
$
179.8

 
$
121.6

Basic (loss) income per share from continuing operations
 
$
(0.29
)
 
$
0.95

 
$
2.15

 
$
1.50

Diluted (loss) income per share from continuing operations
 
$
(0.29
)
 
$
0.90

 
$
2.02

 
$
1.48
Schedule of Earnings Per Share, Basic and Diluted
The following table sets forth the computation of basic and diluted earnings per share.
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
Numerator:
 
 
 
 
 
 
Numerator for EPS - continuing operations
 
 
 
 
 
 
Income from continuing operations
 
$
331.0

 
$
383.6

 
$
328.5

Less: Income from continuing operations attributed to non-controlling interest
 
25.6

 
26.7

 
33.8

Income from continuing operations attributable to Delek (numerator for basic EPS - continuing operations attributable to Delek)
 
305.4

 
356.9

 
294.7

Interest on convertible debt, net of tax
 
—

 
2.6

 
—

Numerator for diluted EPS - continuing operations attributable to Delek
 
$
305.4

 
$
359.5

 
$
294.7

 
 
 
 
 
 
 
Numerator for EPS - discontinued operations
 
 
 
 
 
 
Income (loss) from discontinued operations, including gain (loss) on sale of discontinued operations
 
$
6.6

 
$
(10.9
)
 
$
(8.6
)
Less: Income tax expense (benefit)
 
1.4

 
(2.2
)
 
(2.7
)
Income (loss) from discontinued operations, net of tax
 
5.2

 
(8.7
)
 
(5.9
)
Less: Income from discontinued operations attributed to non-controlling interest
 
—

 
8.1

 
—

Income (loss) from discontinued operations attributable to Delek
 
$
5.2

 
$
(16.8
)
 
$
(5.9
)
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
Weighted average common shares outstanding (denominator for basic EPS)
 
75,853,187

 
82,797,110

 
71,566,225

Dilutive effect of convertible debt
 
—

 
1,525,846

 
—

Dilutive effect of warrants
 
—

 
967,352

 
—

Dilutive effect of stock-based awards
 
720,904

 
1,478,093

 
736,858

Weighted average common shares outstanding, assuming dilution
 
76,574,091

 
86,768,401

 
72,303,083

 
 
 
 
 
 
 
EPS:
 
 
 
 
 
 
Basic income (loss) per share:
 
 
 
 
 
 
Income (loss) from continuing operations
 
$
4.03

 
$
4.31

 
$
4.12

(Loss) income from discontinued operations
 
0.07

 
(0.20
)
 
(0.08
)
Total basic income (loss) per share
 
$
4.10

 
$
4.11

 
$
4.04

Diluted income (loss) per share:
 
 
 
 
 
 
Income (loss) from continuing operations
 
$
3.99

 
$
4.14

 
$
4.08

(Loss) income from discontinued operations
 
0.07

 
(0.19
)
 
(0.08
)
Total diluted income (loss) per share
 
$
4.06

 
$
3.95

 
$
4.00

 
 
 
 
 
 
 
The following equity instruments were excluded from the diluted weighted average common shares outstanding because their effect would be anti-dilutive:
 
 
 
 
 
 
 
 
 
 
 
 
 
Antidilutive stock-based compensation (because average share price is less than exercise price)
 
1,932,179

 
1,462,112

 
4,080,723

Antidilutive due to loss
 
—

 
—

 
—

Total antidilutive stock-based compensation
 
1,932,179

 
1,462,112

 
4,080,723

 
 
 
 
 
 
 
Antidilutive convertible debt instruments (because average share price is less than exercise price)
 
—

 
—

 
2,811,652

Total antidilutive convertible debt instruments
 
—

 
—

 
2,811,652

 
 
 
 
 
 
 
Antidilutive warrants (because average share price is less than exercise price)
 
—

 
—

 
2,806,291

Total antidilutive warrants
 
—

 
—

 
2,806,291



The quarterly earnings per share calculations for the three months ended December 31, 2019 and 2018 are presented below:
 
 
Three Months Ended December 31,
 
 
2019
 
2018
Numerator:
 
 
 
 
Numerator for EPS - continuing operations
 
 
 
 
Income from continuing operations
 
$
32.0

 
$
127.6

Less: Income from continuing operations attributed to non-controlling interest
 
5.3

 
5.8

Income from continuing operations attributable to Delek (numerator for basic EPS - continuing operations attributable to Delek)
 
26.7

 
121.8

Interest on convertible debt, net of tax
 
—

 
—

Numerator for diluted EPS - continuing operations attributable to Delek
 
$
26.7

 
$
121.8

 
 
 
 
 
Numerator for EPS - discontinued operations
 
 
 
 
Income (loss) from discontinued operations
 
$
6.0

 
$
(0.2
)
 
 
 
 
 
Denominator:
 
 
 
 
Weighted average common shares outstanding (denominator for basic EPS)
 
74,042,343

 
81,321,240

Dilutive effect of warrants
 
—

 
260,838

Dilutive effect of stock-based awards
 
658,583

 
946,261

Weighted average common shares outstanding, assuming dilution
 
74,700,926

 
82,528,339

 
 
 
 
 
EPS:
 
 
 
 
Basic income per share:
 
 
 
 
Income from continuing operations
 
$
0.36

 
$
1.50

Income from discontinued operations
 
0.08

 
—

Total basic income (loss) per share
 
$
0.44

 
$
1.50

Diluted income per share:
 
 
 
 
Income from continuing operations
 
$
0.36

 
$
1.48

Income from discontinued operations
 
0.08

 
—

Total diluted income (loss) per share
 
$
0.44

 
$
1.48

The following equity instruments were excluded from the diluted weighted average common shares outstanding because their effect would be anti-dilutive:
 
 
 
 
 
 
 
 
 
Total antidilutive stock-based compensation
 
1,925,207

 
1,749,569