Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2024

Basic earnings (loss) per share (or "EPS") is computed by dividing net income (loss) by the weighted average common shares outstanding. Diluted earnings (loss) per share is computed by dividing net income (loss), as adjusted for changes to income that would result from the assumed settlement of the dilutive equity instruments included in diluted weighted average common shares outstanding, by the diluted weighted average common shares outstanding. For all periods presented, we have outstanding various equity-based compensation awards that are considered in our diluted EPS calculation (when to do so would be dilutive), and is inclusive of awards disclosed in Note 21 to these consolidated financial statements. For those instruments that are indexed to our common stock, they are generally dilutive when the market price of the underlying indexed share of common stock is in excess of the exercise price.

The following table sets forth the computation of basic and diluted earnings per share.


(In millions, except share and per share data)	Year Ended December 31,
		2024		2023		2022
Numerator:
Numerator for EPS - continuing operations
Net (loss) income from continuing operations		$	(598.1)	$	19.6	$	265.4

Less: Income from continuing operations attributed to non-controlling interests		39.5		26.9		33.4


Numerator for basic and diluted EPS from continuing operations attributable to Delek		$	(637.6)	$	(7.3)	$	232.0

Numerator for EPS - discontinued operations
Income from discontinued operations, including gain on sale of discontinued operations		$	105.9	$	35.2	$	32.6
Less: Income tax expense		28.7		8.1		7.5


Income from discontinued operations, net of tax		$	77.2	$	27.1	$	25.1

Denominator:
Weighted average common shares outstanding (denominator for basic EPS)		63,882,219		65,406,089		70,789,458


Dilutive effect of stock-based awards		—		—		726,903
Weighted average common shares outstanding, assuming dilution (denominator for diluted EPS)		63,882,219		65,406,089		71,516,361

EPS:
Basic (loss) income per share:
(Loss) income from continuing operations		$	(9.98)	$	(0.11)	$	3.28
Income from discontinued operations		1.21		0.41		0.35
Total basic (loss) income per share		$	(8.77)	$	0.30	$	3.63
Diluted (loss) income per share:
(Loss) income from continuing operations		$	(9.98)	$	(0.11)	$	3.24
Income from discontinued operations		1.21		0.41		0.35
Total diluted (loss) income per share		$	(8.77)	$	0.30	$	3.59

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)		2,116,047		1,718,880		2,299,660
Antidilutive due to loss		467,499		569,212		—
Total antidilutive stock-based compensation		2,583,546		2,288,092		2,299,660