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Cover - shares
3 Months Ended
Mar. 31, 2025
May 12, 2025
Cover [Abstract]    
Document Type 10-Q/A  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2025  
Current Fiscal Year End Date --12-31  
Document Transition Report false  
Entity File Number 001-42172  
Entity Registrant Name Calumet, Inc. /DE  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 36-5098520  
Entity Address, Address Line One 1060 N Capitol Ave  
Entity Address, Address Line Two Suite 6-401  
Entity Address, City or Town Indianapolis  
Entity Address, State or Province IN  
Entity Address, Postal Zip Code 46204  
City Area Code 317  
Local Phone Number 328-5660  
Title of 12(b) Security Common Stock, par value $0.01 per share  
Trading Symbol CLMT  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   86,621,470
Entity Central Index Key 0002013745  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
Amendment Flag true  
Amendment Description This Amendment No. 1 on Form 10-Q/A ("Form 10-Q/A") amends and restates certain items in Calumet, Inc.'s (the "Company") Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, initially filed with the Securities and Exchange Commission (the "SEC") on May 12, 2025 (the "Original Form 10-Q"). The Amendment sets forth the information in the Original Form 10-Q in its entirety, as adjusted for the effects of the restatement described below. In this Form 10-Q/A, the Company is restating its previously issued unaudited condensed consolidated financial statements for the quarter ended March 31, 2025, as further described below. The Company will also amend its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 (the "Q2 Form 10-Q/A"), initially filed with the SEC on August 8, 2025. The Company does not intend to amend any other reports previously filed or furnished with the SEC. Accordingly, investors and other readers should rely only on the financial information and related disclosures regarding the periods described above (the "Affected Periods") in this Form 10-Q/A and in the Q2 Form 10-Q/A and in any other future filings with the SEC (as applicable) and should not rely on the prior filings for these two quarterly periods or any previously issued or filed reports, press releases, earnings releases, investor presentations or similar communications relating to the Affected Periods. Items Amended in this Filing This Form 10-Q/A amends and restates the following items of the Original Form 10-Q: Part I - Item 1. Financial Statements Part I - Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Part I - Item 4. Controls and Procedures Part II - Item 1A. Risk Factors Part II - Item 6. Exhibits In accordance with Rule 12b-15 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the certifications specified in Rule 13a-14 under the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) from our principal executive officer and principal financial officer, each dated as of the date hereof, are being filed or furnished, as applicable, with this Form 10-Q/A as Exhibits 31.1, 31.2 and 32.1. This Form 10-Q/A sets forth the information in the original Form 10-Q in its entirety, as such information is amended and restated where necessary to reflect the restatement and related revisions. Except as provided above, this Form 10-Q/A does not amend, update or change any other items or disclosures or otherwise reflect events occurring after the date of the Original Form 10-Q to the date this Form 10-Q/A is filed. Accordingly, this Form 10-Q/A should be read in conjunction with the Company's other SEC filings. Except as otherwise provided, the disclosures in this Form 10-Q/A are made as of the date of the Original Form 10-Q and do not reflect any events that occurred after the date of the Original Form 10-Q or modify or update any other disclosures in the Original Form 10-Q affected by subsequent events. As such, forward-looking statements included in this Form 10-Q/A may represent management's views as of the date of the Original Form 10-Q and should not be assumed to be accurate as of any date thereafter. Restatement Background As described in the Company's Current Report on Form 8-K filed with the SEC on November 7, 2025, during the preparation of the Company's unaudited condensed consolidated financial statements as of and for the three and nine months ended September 30, 2025, the Company identified an error in the Company's historical unaudited condensed consolidated statements of cash flows for the Affected Periods that caused the misclassification of certain amounts between cash flows from operating activities and cash flows from financing activities. This error had no impact on revenue, net income (loss) or cash, cash equivalents or restricted cash. The misclassifications related to the Company's debt extinguishment costs from its refinancing activities for its outstanding indebtedness and one of its inventory financing arrangements. The Company determined that this error originated from a newly identified material weakness related to the preparation and review of the unaudited condensed consolidated statements of cash flows. As a result of this misclassification of cash flows, certain adjustments were inadvertently recorded in the incorrect cash flow section. The Company previously reported $110.6 million and $108.0 million of net cash used in operating activities and $190.3 million and $188.5 million of net cash provided by financing activities for the three months ended March 31, 2025 and the six months ended June 30, 2025, respectively. The correction of the misclassification error discussed above resulted in upward adjustments of approximately $81.3 million and $76.9 million to operating cash flows and corresponding reductions by the same amounts to financing cash flows for the three months ended March 31, 2025 and the six months ended June 30, 2025, respectively. Accordingly, the Company has reported in this Form 10-Q/A (or will report in the Q2 Form 10-Q/A) $29.3 million and $31.1 million of net cash used in operating activities and $109.0 million and $111.6 million of net cash provided by financing activities for the three months ended March 31, 2025 and the six months ended June 30, 2025, respectively. Internal Control Considerations As a result of the misclassification of cash flows discussed above, the Company's management has re-evaluated the effectiveness of the Company's disclosure controls and procedures as of March 31, 2025. The Company's management determined that the misclassification error and the related restatements were the result of a material weakness in the Company's internal control over financial reporting, and concluded that disclosure controls and procedures as of March 31, 2025 were ineffective. Therefore, the Company's previous evaluation of its disclosure controls and procedures as of March 31, 2025 should no longer be relied upon. See Part I - Item 4. Controls and Procedures, in this Form 10-Q/A for additional information related to this material weakness in internal control over financial reporting and the related remedial measures.