DELEK LOGISTICS PARTNERS, LP, 10-Q filed on 5/7/2025
Quarterly Report
v3.25.1
Cover Page - shares
 3 Months Ended
Mar. 31, 2025
May 01, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Period End Date Mar. 31, 2025  
Document Transition Report false  
Entity File Number 001-35721  
Entity Registrant Name DELEK LOGISTICS PARTNERS, LP  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 45-5379027  
Entity Address, Address Line One 310 Seven Springs Way  
Entity Address, Address Line Two Suite 500  
Entity Address, City or Town Brentwood  
Entity Address, State or Province TN  
Entity Address, Postal Zip Code 37027  
City Area Code 615  
Local Phone Number 771-6701  
Title of 12(b) Security Common Units Representing Limited Partnership Interests  
Trading Symbol DKL  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Common Stock, Shares, Outstanding   53,440,788
Entity Central Index Key 0001552797  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
Amendment Flag false  
Document Quarterly Report true  
v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 2,107 $ 5,384
Inventory 8,659 5,427
Other current assets 1,528 24,260
Total current assets 156,911 145,892
Property, plant and equipment:    
Property, plant and equipment 1,653,350 1,375,391
Less: accumulated depreciation (331,367) (311,070)
Property, plant and equipment, net 1,321,983 1,064,321
Equity method investments 317,466 317,152
Other intangibles, net 130,681 94,547
Goodwill 12,203 12,203
Operating lease right-of-use assets 17,107 16,654
Net lease investment - affiliate 189,683 193,126
Other non-current assets 16,461 10,753
Total assets 2,395,454 2,041,559
Current liabilities:    
Accounts payable 59,948 41,380
Interest payable 15,860 30,665
Excise and other taxes payable 9,282 6,764
Current portion of operating lease liabilities 5,534 5,340
Accrued expenses and other current liabilities 6,835 4,629
Total current liabilities 97,459 88,778
Non-current liabilities:    
Long-term debt, net of current portion 2,145,730 1,875,397
Operating lease liabilities, net of current portion 6,199 6,004
Asset retirement obligations 23,250 15,639
Other non-current liabilities 25,381 20,213
Total non-current liabilities 2,200,560 1,917,253
Equity:    
Total equity (deficit) 97,435 35,528
Total liabilities and equity 2,395,454 2,041,559
Nonrelated Party    
Current assets:    
Accounts receivable 68,650 54,725
Affiliated Entity    
Current assets:    
Accounts receivable 54,902 33,313
Lease receivable - affiliate 21,065 22,783
Common- Public | Limited Partner    
Equity:    
Total equity (deficit) 525,141 440,957
Common- Delek | Limited Partner    
Equity:    
Total equity (deficit) (427,706) (405,429)
Customer relationships    
Property, plant and equipment:    
Intangibles, net $ 232,959 $ 186,911
v3.25.1
Consolidated Balance Sheets (Parenthetical) - Limited Partner - shares
Mar. 31, 2025
Dec. 31, 2024
Common- Public    
Common unitholders, issued (in units) 19,564,761 17,374,618
Common unitholders, outstanding (in units) 19,564,761 17,374,618
Common- Delek    
Common unitholders, issued (in units) 33,868,203 34,111,278
Common unitholders, outstanding (in units) 33,868,203 34,111,278
v3.25.1
Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Net revenues    
Net revenues $ 249,930 $ 252,075
Cost of sales:    
Cost of materials and other 129,052 123,693
Operating expenses (excluding depreciation and amortization presented below) 40,630 31,695
Depreciation and amortization 26,498 25,167
Total cost of sales 196,180 180,554
Operating expenses related to wholesale business (excluding depreciation and amortization presented below) 355 221
General and administrative expenses 8,864 4,863
Depreciation and amortization 1,218 1,328
Other operating (income) expense, net (4,286) 567
Total operating costs and expenses 202,331 187,533
Operating income 47,599 64,542
Interest income (22,547) 0
Interest expense 41,101 40,229
Income from equity method investments (10,150) (8,490)
Other income, net (21) (171)
Total non-operating expenses, net 8,383 31,568
Income before income tax expense 39,216 32,974
Income tax expense 182 326
Net income 39,034 32,648
Comprehensive income $ 39,034 $ 32,648
Net income per limited partner unit:    
Basic (in dollars per unit) $ 0.73 $ 0.74
Diluted (in dollars per unit) $ 0.73 $ 0.73
Weighted average common units outstanding:    
Basic (in units) 53,604,659 44,406,356
Diluted (in units) 53,633,836 44,422,817
Affiliated Entity    
Net revenues    
Net revenues [1] $ 126,321 $ 139,625
Cost of sales:    
Cost of materials and other [1] 89,966 92,882
Nonrelated Party    
Net revenues    
Net revenues 123,609 112,450
Cost of sales:    
Cost of materials and other $ 39,086 $ 30,810
[1] See Note 3 for a description of our material affiliate revenue and purchases transactions.
v3.25.1
Consolidated Statements of Partners' Equity (Deficit) - USD ($)
$ in Thousands
Total
Phantom Share Units (PSUs)
Limited Partner
Common- Public
Limited Partner
Common- Delek
Beginning balance at Dec. 31, 2023 $ (161,869)   $ 160,402 $ (322,271)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Cash distributions (46,210) [1] $ (200) (10,012) [1] (36,198) [1]
Net income 32,648   7,404 25,244
Issuance of units 132,327   132,327  
Other 637   (70) 707
Ending balance at Mar. 31, 2024 (42,467)   290,051 (332,518)
Beginning balance at Dec. 31, 2024 35,528   440,957 (405,429)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Cash distributions (59,302) [1] $ 0 (21,609) [1] (37,693) [1]
Net income 39,034   14,224 24,810
Issuance of units 91,511   91,511  
Unit repurchase (10,000)     (10,000)
Other 664   58 606
Ending balance at Mar. 31, 2025 $ 97,435   $ 525,141 $ (427,706)
[1] Cash distributions include $0.2 million related to distribution equivalents on vested phantom units for the three months ended March 31, 2024. There were no distribution equivalents on vested phantom units for the three months ended March 31, 2025.
v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 39,034 $ 32,648
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 27,716 26,495
Non-cash lease expense 2,267 1,939
Amortization of marketing contract intangible 0 1,803
Amortization of deferred revenue (830) (572)
Amortization of deferred financing costs and debt discount 1,283 1,250
Income from equity method investments (10,150) (8,490)
Dividends from equity method investments 7,338 9,509
Loss on extinguishment of debt 0 3,571
Other non-cash adjustments (3,028) 1,492
Changes in assets and liabilities:    
Accounts receivable 2,508 (15,862)
Inventories and other current assets 232 670
Accounts payable and other current liabilities (17,579) (2,359)
Accounts receivable/payable to related parties (21,158) (8,145)
Net investment in leases - affiliate 5,161 0
Non-current assets and liabilities, net (1,244) (91)
Net cash provided by operating activities 31,550 43,858
Cash flows from investing activities:    
Purchases of property, plant and equipment (55,474) (11,255)
Proceeds from sales of property, plant and equipment 4,318 42
Purchases of intangible assets (4,558) (781)
Business combination, net of cash acquired (181,180) 0
Distributions from equity method investments 2,127 2,133
Net cash used in investing activities (234,767) (9,861)
Cash flows from financing activities:    
Distributions to common unitholders - public (21,609) (10,012)
Distributions to common unitholders - Delek Holdings (37,693) (36,198)
Proceeds from term debt 0 650,000
Payments on term debt 0 (531,250)
Proceeds from revolving facility 598,500 184,900
Payments on revolving facility (328,800) (400,200)
Unit repurchase (10,000) 0
Proceeds from issuance of common units, net of underwriters' discount 0 132,327
Payments on other financing agreements 0 (6,214)
Deferred financing costs paid 0 (10,946)
Other financing activities (458) (487)
Net cash provided by (used in) financing activities 199,940 (28,080)
Net (decrease) increase in cash and cash equivalents (3,277) 5,917
Cash and cash equivalents at the beginning of the period 5,384 3,755
Cash and cash equivalents at the end of the period 2,107 9,672
Cash paid during the period for:    
Interest 54,623 28,503
Non-cash investing activities:    
Common units issued in connection with Gravity Acquisition 91,511 0
Increase in accrued capital expenditures 16,469 3,910
Non-cash financing activities:    
Non-cash lease liability arising from obtaining right of use assets during the period $ 9,447 $ 537
v3.25.1
Organization and Basis of Presentation
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Basis of Presentation Organization and Basis of Presentation
As used in this report, the terms "Delek Logistics Partners, LP," the "Partnership," "we," "us," or "our" may refer to Delek Logistics Partners, LP, one or more of its consolidated subsidiaries or all of them taken as a whole. The Partnership is a Delaware limited partnership formed in April 2012 by Delek US Holdings, Inc. ("Delek Holdings") and its subsidiary Delek Logistics GP, LLC, our general partner (our "general partner").
The Partnership 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 through its owned assets and joint ventures located primarily in the Permian Basin and other select areas in the Gulf Coast region. A majority of our existing assets are both integral to and dependent upon the success of Delek Holdings' refining operations, as many of our assets are contracted exclusively to Delek Holdings in support of its Tyler, Texas (the "Tyler Refinery"), El Dorado, Arkansas (the "El Dorado Refinery") and Big Spring, Texas (the "Big Spring Refinery").
On January 2, 2025, we acquired 100% of the limited liability company interests in Gravity Water Intermediate Holdings LLC from Gravity Water Holdings LLC (the "Seller") related to the Seller's water disposal and recycling operations in the Permian Basin and the Bakken (the “Gravity Acquisition”). See Note 2 for further information.
Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with United States Generally Accepted Accounting Principles ("GAAP") have been condensed or omitted, although management believes that the disclosures herein are adequate to make the financial information presented not misleading. Our unaudited condensed consolidated financial statements have been prepared in conformity with GAAP applied on a consistent basis with those of the annual audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024 (our "Annual Report on Form 10-K"), filed with the U.S. Securities and Exchange Commission (the "SEC") on February 26, 2025 and in accordance with the rules and regulations of the SEC. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2024 included in our Annual Report on Form 10-K.
All adjustments necessary for a fair presentation of the financial position and the results of operations for the interim periods presented have been included. All intercompany accounts and transactions have been eliminated. Such intercompany transactions do not include those with Delek Holdings or our general partner, which are presented as related parties in these accompanying condensed consolidated financial statements. All adjustments are of a normal, recurring nature. Operating results for the interim period should not be viewed as representative of results that may be expected for any future interim period or for the full year.
Accounting Pronouncements Not Yet Adopted
ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40) ("ASU 2024-03"). ASU 2024-03 requires disaggregation of expenses into specific categories such as purchase of inventory, employee compensation, depreciation, and intangible asset amortization, by relevant expense caption on the statement of operations. This update is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted on either a prospective or retrospective basis. The adoption will not affect our financial position or our results of operations. The adoption of ASU 2024-03 will not affect our financial position or our results of operations, but will result in additional disclosures.
v3.25.1
Acquisitions
 3 Months Ended
Mar. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
Gravity Acquisition
On January 2, 2025, we completed the Gravity Acquisition for a preliminary purchase price of $300.8 million, subject to customary adjustments for net working capital. The purchase price was comprised of $209.3 million in cash consisting of a cash deposit of $22.8 million paid in December 2024 upon execution of the purchase agreement and $186.5 million paid at closing on January 2, 2025 and 2,175,209 of common units.
For the three months ended March 31, 2025, we incurred $3.1 million in incremental direct acquisition and integration costs that principally consist of legal, advisory and other professional fees. Such costs are included in general and administrative expenses in the accompanying condensed consolidated statements of income and comprehensive income.
Our consolidated financial and operating results reflect the Gravity Acquisition operations beginning January 2, 2025. Our results of operations included revenue and net income of $22.9 million and $9.9 million, respectively, for the period from January 2, 2025 through March 31, 2025 related to these operations.
This acquisition was accounted for using the acquisition method of accounting, whereby the purchase price is measured at acquisition date fair value of assets acquired and liabilities assumed.
Determination of Purchase Price
The table below presents the estimated purchase price (in thousands):
Base purchase price:$291,561 
Less: Adjusted Net Working Capital (as defined in the Gravity Acquisition Agreement)
3,814 
Plus: Various closing adjustments
5,433 
Adjusted purchase price$300,808 
Cash paid $209,297 
Fair value of common units issued (1)
91,511 
Preliminary purchase price$300,808 
(1)The increase from the $85.0 million base purchase price outlined in the purchase agreement for the common unit consideration was driven by an appreciation in the common unit price.
Purchase Price Allocation
The following table summarizes the preliminary fair values of assets acquired and liabilities assumed in the Gravity Acquisition as of January 2, 2025 (in thousands):
Assets acquired:
Cash and cash equivalents$5,317 
Accounts receivables16,433 
Inventories1,851 
Other current assets1,681 
Property, plant and equipment208,313 
Operating lease right-of-use assets107 
Customer relationship intangible (1)
50,674 
Other intangibles (1)
31,921 
Other non-current assets58 
Total assets acquired316,355 
Liabilities assumed:
Accounts payable2,459 
Accrued expenses and other current liabilities5,783 
Current portion of operating lease liabilities54 
Asset retirement obligations7,202 
Operating lease liabilities, net of current portion49 
Total liabilities assumed15,547 
Fair value of net assets acquired$300,808 
(1)The acquired intangible assets amount includes the following identified intangibles:
•Customer relationship intangible that is subject to amortization with a preliminary fair value of $50.7 million, which we estimate to be amortized over 10 to 25 years.
•Rights-of-way intangibles are valued at $31.9 million, the majority of which have an indefinite life.
These fair value estimates are preliminary and therefore, the final fair value of assets acquired and liabilities assumed and the resulting effect on our financial position may change once all necessary information has become available and we finalize our valuations. To the extent possible, estimates have been considered and recorded, as appropriate, for the items above based on the information available as of March 31, 2025. We will continue to evaluate these items until they are satisfactorily resolved and adjust our purchase price allocation accordingly, within the allowable measurement period (not to exceed one year from the date of acquisition), as defined by ASC 805.
The fair value of property, plant and equipment was based on the combination of the cost and market approaches. Key assumptions in the cost approach include determining the replacement cost by evaluating recently published data and adjusting replacement cost for physical deterioration, functional and economic obsolescence. We used the market approach to measure the value of certain assets through an analysis of recent sales or offerings of comparable properties.
Customer relationships were valued using the income approach, with essential assumptions including projected revenues from these relationships, attrition rates, operating margins, and discount rates.
The fair values discussed above were based on significant inputs that are not observable in the market and, therefore, represent Level 3 measurements. For all other current assets and payables, their fair values were considered equivalent to their carrying amounts due to their short-term nature.
Unaudited Pro Forma Financial Information
The following table summarizes the unaudited pro forma financial information of the Partnership assuming the Gravity Acquisition had occurred on January 1, 2024. The unaudited pro forma financial information has been adjusted to give effect to certain pro forma adjustments that are directly related to this acquisition based on available information and certain assumptions that management believes are factually supportable. The most significant pro forma adjustments relate to (i) incremental interest expense associated with revolving credit facility borrowings incurred in connection with this acquisition, (ii) incremental depreciation resulting from the estimated fair values of acquired property, plant and equipment, (iii) incremental amortization resulting from the estimated fair value of the acquired customer relationship intangible and, (iv) transaction costs. The unaudited pro forma financial information excludes any expected cost savings or other synergies as a result of this acquisition. The unaudited pro forma financial information is not necessarily indicative of the results of operations that would have been achieved had this acquisition been effective as of the date presented, nor is it indicative of future operating results of the combined company. Actual results may differ significantly from the unaudited pro forma financial information.
Three Months Ended March 31,
20252024
(in thousands)
Net sales$249,930 $283,775 
Net income attributable to partners$42,134 $38,148 
H2O Midstream Acquisition
On September 11, 2024, we completed an acquisition in which we acquired 100% of the limited liability company interests in H2O Midstream Intermediate, LLC, H2O Midstream Permian LLC, and H2O Midstream LLC ("H2O Midstream Acquisition") from H2O Midstream Holdings, LLC. The H2O Midstream Acquisition included water disposal and recycling operations in the Midland Basin in Texas, for total consideration of $229.7 million, subject to customary adjustments for net working capital. The purchase price was comprised of $159.7 million in cash and $70.0 million of preferred units (“Preferred Units”). The cash portion was financed through a combination of cash on hand and borrowings under the DKL Credit Facility (as defined in Note 6 ).
For the three months ended March 31, 2025, we incurred $0.1 million in incremental direct acquisition and integration costs that principally consist of legal, advisory and other professional fees. Such costs are included in general and administrative expenses in the accompanying condensed consolidated statements of income and comprehensive income.
Our results of operations included revenue and net income of $16.5 million and $7.1 million, respectively, for the three months ended March 31, 2025 related to these operations.
This acquisition was accounted for using the acquisition method of accounting, whereby the purchase price is measured at acquisition date fair value of assets acquired and liabilities assumed.
Determination of Purchase Price
The table below presents the estimated purchase price (in thousands):
Base purchase price:$230,000 
Less: Adjusted Net Working Capital (as defined in the H2O Midstream Acquisition Agreement)
(2,596)
Plus: various closing adjustments
2,331 
Adjusted purchase price$229,735 
Cash paid $159,735 
Fair value of Preferred Units issued70,000 
Preliminary purchase price$229,735 
Purchase Price Allocation
The following table summarizes the preliminary fair values of assets acquired and liabilities assumed in the H2O Midstream Acquisition as of September 11, 2024 (in thousands):
Assets acquired:
Accounts receivables$6,644 
Inventories2,448 
Other current assets879 
Property, plant and equipment172,374 
Operating lease right-of-use assets2,058 
Customer relationship intangible (1)
26,270 
Other intangibles (1)
33,268 
Other non-current assets21 
Total assets acquired243,962 
Liabilities assumed:
Accounts payable1,833 
Accrued expenses and other current liabilities7,045 
Current portion of operating lease liabilities278 
Asset retirement obligations4,852 
Operating lease liabilities, net of current portion219 
Total liabilities assumed14,227 
Fair value of net assets acquired$229,735 
(1)The acquired intangible assets amount includes the following identified intangibles:
•Customer relationship intangible that is subject to amortization with a preliminary fair value of $26.3 million, which will be amortized over an 13.4 years useful life.
•Rights-of-way intangibles are valued at $28.5 million, which have an indefinite life.
•Favorable supply contract intangible that is subject to amortization with a preliminary fair value of $4.8 million which will be amortized over a 4.8 years useful life.
These fair value estimates are preliminary and therefore, the final fair value of assets acquired and liabilities assumed and the resulting effect on our financial position may change once all necessary information has become available and we finalize our valuations. To the extent possible, estimates have been considered and recorded, as appropriate, for the items above based on the information available as of March 31, 2025. We will continue to evaluate these items until they are satisfactorily resolved and adjust our purchase price allocation accordingly, within the allowable measurement period (not to exceed one year from the date of acquisition), as defined by ASC 805.
The fair value of property, plant and equipment was based on the combination of the cost and market approaches. Key assumptions in the cost approach include determining the replacement cost by evaluating recently published data and adjusting replacement cost for physical deterioration, functional and economic obsolescence. We used the market approach to measure the value of certain assets through an analysis of recent sales or offerings of comparable properties.
Customer relationships were valued using the income approach, with essential assumptions including projected revenues from these relationships, attrition rates, operating margins, and discount rates.
The fair values discussed above were based on significant inputs that are not observable in the market and, therefore, represent Level 3 measurements. For all other current assets and payables, their fair values were considered equivalent to their carrying amounts due to their short-term nature.
By acquiring Gravity and H20 Midstream, we intend to increase third-party revenue streams, diversify our customer and product mix, and expand our footprint in the Midland and Bakken basins, aligning with our strategic growth objectives.
v3.25.1
Related Party Transactions
 3 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
Commercial Agreements
The Partnership has a number of long-term, fee-based commercial agreements with Delek Holdings under which we provide various services, including crude oil gathering and crude oil, intermediate and refined products transportation and storage services, and marketing, terminalling and offloading services to Delek Holdings. Most of these agreements have an initial term ranging from five to ten years, which may be extended for various renewal terms at the option of Delek Holdings. The fees under each agreement are payable to us monthly by Delek Holdings or certain third parties to whom Delek Holdings has assigned certain of its rights and are generally subject to increase or decrease on July 1 of each year, by the amount of any change in various inflation-based indices, however, in no event will the fees be adjusted below the amount initially set forth in the applicable agreement. Under each of these agreements, we are required to maintain the capabilities of our pipelines and terminals, such that Delek Holdings may throughput and/or store, as the case may be, specified volumes of crude oil, intermediate and refined products.
See our Annual Report on Form 10-K for a more complete description of our material commercial agreements and other agreements with Delek Holdings.
Other Agreements with Delek Holdings
In addition to the commercial agreements described above, the Partnership has entered into the following agreements with Delek Holdings:
Omnibus Agreement
On November 7, 2012, the Partnership entered into an omnibus agreement with Delek Holdings, our general partner, Delek Logistics Operating, LLC, Lion Oil Company, LLC and certain of the Partnership’s and Delek Holdings' other subsidiaries, which has been amended and restated from time to time in connection with acquisitions from Delek Holdings (collectively, as amended and restated, the "Omnibus Agreement"). The Omnibus Agreement governs the provision of certain operational services and reimbursement obligations, among other matters, between the Partnership and Delek Holdings, and obligates us to pay an annual fee of $4.4 million to Delek Holdings for its provision of centralized corporate services to the Partnership.
On August 5, 2024, the Partnership entered into an amended and restated Omnibus Agreement with Delek Holdings that provides Delek Holdings an option to purchase certain critical assets from us at market value during the period beginning upon any change in control or sale of substantially all assets involving us and extending (i) in the case of a transaction involving a third party, for six months following closing, and (ii) for any other transaction, for four years following closing.
On May 1, 2025, the Partnership entered into an amended and restated Omnibus Agreement with Delek Holdings that provides for an increase in the Administrative Fee (as defined therein), which will be phased in over the two years beginning July 1, 2025, and a binding obligation for both parties to enter into transition services agreements in the event of a change in control.
Pursuant to the terms of the Omnibus Agreement, we are reimbursed by Delek Holdings for certain capital expenditures. These amounts are recorded in other long-term liabilities and are amortized to revenue over the life of the underlying revenue agreement corresponding to the asset. There were no reimbursements by Delek Holdings during the three months ended March 31, 2025 and 2024. Additionally, we are reimbursed or indemnified, as the case may be, for costs incurred in excess of certain amounts related to certain asset failures, pursuant to the terms of the Omnibus Agreement. As of March 31, 2025 and December 31, 2024, there was no receivable from related parties for these matters. These reimbursements are recorded as reductions to operating expense. There were no reimbursements for these matters in each of the three month periods ended March 31, 2025 and 2024.
Other Transactions
The Partnership manages long-term capital projects on behalf of Delek Holdings pursuant to a construction management and operating agreement (the "DPG Management Agreement") for the construction of gathering systems in the Permian Basin. The majority of the gathering systems have been constructed, however, additional costs pertaining to a pipeline connection that was not acquired by the Partnership continue to be incurred and are still subject to the terms of the DPG Management Agreement. The Partnership is also considered the operator for the project and is responsible for oversight of the project design, procurement and construction of project segments and provides other related services. Pursuant to the terms of the DPG Management Agreement, the Partnership receives a monthly operating services fee and a construction services fee, which includes the Partnership's direct costs of managing the project plus an additional percentage fee of the construction costs of each project segment. The agreement extends through December 2025. Total fees paid to the Partnership were $0.4 million for both the three months ended March 31, 2025 and 2024, which are recorded in affiliate revenue in our accompanying condensed consolidated statements of income and comprehensive income. Additionally, the Partnership incurs the costs in connection with the construction of the assets and is subsequently reimbursed by Delek Holdings. Amounts reimbursable by Delek Holdings are recorded in accounts receivable from related parties.
Summary of Transactions
Income from affiliates consist primarily of revenues from gathering, transportation, storage, offloading, Renewable Identification Numbers, wholesale marketing and products terminalling services provided primarily to Delek Holdings under commercial agreements based on regulated tariff rates or contractually based fees and product sales, and interest income associated with those commercial agreements classified as sales-type leases. Affiliate operating expenses are primarily comprised of amounts we reimburse Delek Holdings, or our general partner, as the case may be, for the services provided to us under the Partnership Agreement. These expenses could also include reimbursement and indemnification amounts from Delek Holdings, as provided under the Omnibus Agreement. Additionally, the Partnership is required to reimburse Delek Holdings for direct or allocated costs and expenses incurred by Delek Holdings on behalf of the Partnership and for charges Delek Holdings incurred for the management and operation of our logistics assets, including an annual fee for various centralized corporate services, which are included in general and administrative expenses. In addition to these transactions, we purchase refined products and bulk biofuels from Delek Holdings, the costs of which are included in cost of materials and other-affiliate.
A summary of income, purchases and expense transactions with Delek Holdings and its affiliates are as follows (in thousands):
Three Months Ended March 31,
20252024
Revenues$126,321 $139,625 
Interest income from sales-type leases$22,547 $— 
Purchases from Affiliates$89,966 $92,882 
Operating and maintenance expenses
$21,940 $18,218 
General and administrative expenses
$2,220 $2,999 
Quarterly Cash Distributions
Date of DistributionDistributions paid to Delek Holdings (in thousands)
February 11, 2025$37,693 
May 15, 2025 (1)
37,594 
Total$75,287 
February 12, 2024$36,198 
May 15, 202436,713 
Total$72,911 
(1) On April 28, 2025, the board of directors of our general partner declared this quarterly cash distribution based on the available cash as of the date of determination. Distributions paid are estimated based on common units held by Delek Holdings as of March 31, 2025.
v3.25.1
Revenues
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
The following table represents a disaggregation of revenue for the gathering and processing, wholesale marketing and terminalling, and storage and transportation segments for the periods indicated (in thousands):
Three Months Ended March 31, 2025
Gathering and ProcessingWholesale Marketing and Terminalling Storage and TransportationConsolidated
Service Revenue - Third Party$18,454 $— $1,582 $20,036 
Service Revenue - Affiliate (1)
1,506 6,657 13,974 22,137 
Product Revenue - Third Party61,582 41,991 — 103,573 
Product Revenue - Affiliate3,219 49,326 — 52,545 
Lease Revenue - Affiliate33,842 8,725 9,072 51,639 
Total Revenue$118,603 $106,699 $24,628 $249,930 
Three Months Ended March 31, 2024
Gathering and ProcessingWholesale Marketing and Terminalling Storage and TransportationConsolidated
Service Revenue - Third Party$23,385 $— $2,732 $26,117 
Service Revenue - Affiliate (1)
2 13,216 13,545 26,763 
Product Revenue - Third Party19,945 66,388 — 86,333 
Product Revenue - Affiliate3,950 27,746 — 31,696 
Lease Revenue - Affiliate
48,601 11,920 20,645 81,166 
Total Revenue$95,883 $119,270 $36,922 $252,075 
(1) Net of $1.8 million for the three months ended March 31, 2024, related to marketing contract intangible recorded in the wholesale marketing and terminalling segment. For the three months ended March 31, 2025, no amortization was recorded related to this intangible, as the associated agreement was terminated on August 5, 2024.
As of March 31, 2025, we expect to recognize approximately $1.0 billion in service revenues related to our unfulfilled performance obligations pertaining to the minimum volume commitments and capacity utilization under the non-cancelable terms of our commercial agreements with Delek Holdings. Most of these agreements have an initial term ranging from five to ten years, which may be extended for various renewal terms. We disclose information about remaining performance obligations that have original expected durations of greater than one year.
Our unfulfilled performance obligations as of March 31, 2025 were as follows (in thousands):
Remainder of 2025$161,055 
2026199,025 
2027199,025 
2028152,716 
2029 and thereafter254,907 
Total expected revenue on remaining performance obligations$966,728 
v3.25.1
Net Income per Unit
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Net Income per Unit Net Income per Unit
Basic net income per unit is computed by dividing net income by the weighted-average number of outstanding common units. Diluted net income per unit includes the effects of potentially dilutive units on our common units. For the three months ended March 31, 2025 and 2024, potentially dilutive units outstanding consist of unvested phantom units.
The calculation of net income per unit is as follows (in thousands, except unit and per unit amounts):
Three Months Ended March 31,
20252024
Net income$39,034 $32,648 
Weighted average common units outstanding, basic53,604,659 44,406,356 
Dilutive effect of unvested phantom units29,177 16,461 
Weighted average common units outstanding, diluted53,633,836 44,422,817 
Net income per unit:
Basic$0.73 $0.74 
Diluted (1)
$0.73 $0.73 
(1) There were 28,692 and 42,315 anti-dilutive common unit equivalents excluded from the diluted earnings per unit calculation during the three months ended March 31, 2025 and 2024, respectively.
v3.25.1
Long-Term Obligations
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Long-Term Obligations Long-Term Obligations
Outstanding borrowings under the Partnership’s debt instruments are as follows (in thousands):
March 31, 2025December 31, 2024
DKL Revolving Facility$705,100 $435,400 
2029 Notes1,050,000 1,050,000 
2028 Notes400,000 400,000 
Principal amount of long-term debt2,155,100 1,885,400 
Less: Unamortized discount and premium and deferred financing costs 9,370 10,003 
Total debt, net of unamortized discount and premium and deferred financing costs$2,145,730 $1,875,397 
DKL Credit Facility
On October 13, 2022, the Partnership entered into a senior secured term loan with Fifth Third, as administrative agent and a syndicate of lenders with an original principal of $300.0 million (the "DKL Term Loan Facility"). The outstanding principal balance of $281.3 million was paid on March 13, 2024 from a portion of the proceeds received with the issuance of the 2029 Notes as indicated below. Debt extinguishment costs were $2.1 million for the three months ended March 31, 2024 and were recorded in interest expense in the accompanying condensed consolidated statements of income and comprehensive income.
On March 29, 2024, the Partnership entered into a Fourth Amendment to the amended and restated senior secured revolving credit agreement (the "DKL Revolving Facility") which among other things increased the U.S. Revolving Credit Commitments (as defined in the DKL Credit Facility) by an amount equal to $100.0 million resulting in aggregate lender commitments under the Delek Logistics Revolving Credit Facility in an amount of $1,150.0 million, including up to $146.9 million for letters of credit and $31.9 million in swing line loans. This facility has a maturity date of October 13, 2027.
As of March 31, 2025 and December 31, 2024, the weighted average interest rate was 7.19% and 7.27%, respectively. There were no letters of credit outstanding as of March 31, 2025 or December 31, 2024.
The obligations under the DKL Revolving Facility are secured by first priority liens on substantially all of the Partnership’s and its subsidiaries’ tangible and intangible assets. The carrying value of outstanding borrowings under the DKL Revolving Facility as of March 31, 2025 and December 31, 2024 approximate their fair values. Our debt facilities contain affirmative and negative covenants and events of default the Partnership considers usual and customary. As of March 31, 2025, we were in compliance with covenants on all of our debt instruments.
2029 Notes
Our 2029 Notes are general unsecured senior obligations comprised of $1,050.0 million in aggregate principal 8.625% senior notes maturing on March 15, 2029. The 2029 Notes are unconditionally guaranteed jointly and severally on a senior unsecured basis by the Partnership's existing subsidiaries (other than Delek Logistics Finance Corp.) and will be unconditionally guaranteed on the same basis by certain of the Partnership's future subsidiaries. As of March 31, 2025, the effective interest rate was 8.81%. The estimated fair value of the 2029 Notes was $1,088.7 million and $1,086.9 million as of March 31, 2025 and December 31, 2024, respectively, measured based upon quoted market prices in an active market, defined as Level 1 in the fair value hierarchy.
2028 Notes
Our 2028 Notes are general unsecured senior obligations comprised of $400.0 million in aggregate principal of 7.125% senior notes maturing June 1, 2028. The 2028 Notes are unconditionally guaranteed jointly and severally on a senior unsecured basis by the Partnership's existing subsidiaries (other than Delek Logistics Finance Corp.) and will be unconditionally guaranteed on the same basis by certain of the Partnership's future subsidiaries. As of March 31, 2025, the effective interest rate was 7.38%. The estimated fair value of the 2028 Notes was $400.2 million and $399.1 million as of March 31, 2025 and December 31, 2024, respectively, measured based upon quoted market prices in an active market, defined as Level 1 in the fair value hierarchy.
2025 Notes
Our 2025 Notes were general unsecured senior obligations comprised of $250.0 million in aggregate principal of 6.75% senior notes maturing on May 15, 2025. Concurrent with the issuance of the 2029 Notes, the Partnership made a cash tender offer (the "Offer") for all of the outstanding 2025 Notes with a conditional notice of full redemption for the remaining balance not received from the Offer. The Partnership received tenders from holders of approximately $156.2 million in aggregate principal amount. All the remaining 2025 Notes were redeemed by March 29, 2024, pursuant to the notice of conditional redemption. Debt extinguishment costs were $1.5 million for the three months ended March 31, 2024 and were recorded in interest expense in the accompanying condensed consolidated statements of income and comprehensive income for the three months ended March 31, 2024.
v3.25.1
Equity
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Equity Equity
Equity Activity
The table below summarizes the changes in the number of limited partner units outstanding from December 31, 2024 through March 31, 2025.
Common - Public
Common - Delek Holdings (1)
Total
Balance at December 31, 202417,374,618 34,111,278 51,485,896 
Unit-based compensation awards (2)
14,934 — 14,934 
Issuance of units in connection with Gravity Acquisition2,175,209 — 2,175,209 
Unit repurchase— (243,075)(243,075)
Balance at March 31, 202519,564,761 33,868,203 53,432,964 
(1) As of March 31, 2025, Delek Holdings owned a 63.4% interest in the Partnership.
(2) Unit-based compensation awards are presented net of 6,976 units withheld for taxes for three months ended March 31, 2025.
Unit Repurchase
On February 24, 2025, the Partnership and Delek Holdings entered into a Common Unit Purchase Agreement (the “Common Unit Purchase Agreement”) whereby the Partnership may repurchase common units from time to time from Delek Holdings in one or more transactions for an aggregate purchase price of up to $150.0 million through December 31, 2026 (each such repurchase, a “Repurchase”). The purchase price per common unit in each Repurchase will be the 30-day volume weighted average price of the common units at the close of trading on the day prior to the closing date subject to certain limitations set forth in the Common Unit Purchase Agreement. The Partnership may fund Repurchases using cash on hand or borrowings under its existing credit facility, subject to compliance with applicable covenants. During the three months ended March 31, 2025, 243,075 common units were repurchased from Delek Holdings and cancelled at the time of the transaction for a total of $10.0 million. No common units were repurchased for the three months ended March 31, 2024. As of March 31, 2025, there was $140.0 million of authorization remaining under the Common Unit Repurchase Agreement.
Cash Distributions
Our Partnership Agreement sets forth the calculation to be used to determine the amount and priority of available cash distributions that our limited partner unitholders will receive. Our distributions earned with respect to a given period are declared subsequent to quarter end.
The table below summarizes the quarterly distributions related to our quarterly financial results:
Quarter EndedTotal Quarterly Distribution Per Limited Partner UnitTotal Cash Distribution (in thousands)
December 31, 2023$1.055$46,010
March 31, 2024$1.070$50,521
June 30, 2024$1.090$51,263
September 30, 2024$1.100$56,613
December 31, 2024$1.105$59,302
March 31, 2025 (1)
$1.110$59,311
(1) On April 28, 2025, the board of directors of our general partner declared this quarterly cash distribution, payable on May 15, 2025, to unitholders of record on May 8, 2025. The total cash distribution is estimated based on the number of common units outstanding as of March 31, 2025.
v3.25.1
Equity Method Investments
 3 Months Ended
Mar. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Equity Method Investments
The Partnership owns a 33% membership interest in Red River Pipeline Company LLC ("Red River"), a joint venture operated with Plains Pipeline, L.P, which owns and operates a crude oil pipeline running from Cushing, Oklahoma to Longview, Texas. Additionally, we have two pipeline joint ventures, in which we own a 50% membership interest in the entity formed with an affiliate of Plains All American Pipeline, L.P. ("CP LLC") to operate one of these pipeline systems and a 33% membership interest in the entity formed with Andeavor Logistics RIO Pipeline LLC ("Andeavor Logistics") to operate the other pipeline system.
On August 5, 2024, the Partnership acquired Permian Pipeline Holdings, LLC, which holds 50% equity interests in W2W Holdings, from a wholly owned subsidiary of Delek Holdings. Our interest in W2W Holdings includes a 15.6% indirect interest in the Wink to Webster joint venture, and related joint venture indebtedness.
W2W Holdings was originally formed by Delek Holdings and MPLX Operations LLC to obtain financing and fund capital calls associated with its collective and contributed interests in Wink to Webster. Wink to Webster owns and operates a long-haul crude oil pipeline system with origin points at Wink and Midland in the Permian Basin and delivery points at multiple Houston area locations. We determined that W2W Holdings is a VIE. While we have the ability to exert significant influence through participation in board and management committees, we are not the primary beneficiary since we do not have a controlling financial interest in W2W Holdings, and no single party has the power to direct the activities that most significantly impact W2W Holdings' economic performance.
Distributions received from WWP are first applied to service the debt of W2W Holdings wholly owned finance LLC, with excess distributions made to the W2W Holdings members as provided for in the W2W Holdings LLC Agreement and as allowed for under its debt agreements. The obligations of the W2W Holdings members under the W2W Holdings LLC Agreement are guaranteed by the parents of the member entities.
As of March 31, 2025, except for the guarantee of member obligations under the joint venture, we do not have other guarantees with or to W2W Holdings, nor any third-party associated with W2W Holdings contracted work. The Partnership's maximum exposure to any losses incurred by W2W Holdings is limited to its investment.
The Partnership's investment balances in these joint ventures were as follows (in thousands):
As of March 31, 2025As of December 31, 2024
Red River$133,690 $136,455 
W2W Holdings91,493 86,117 
CP LLC57,786 59,252 
Andeavor Logistics34,497 35,328 
Total Equity Method Investments$317,466 $317,152 
v3.25.1
Segment Data
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Data Segment Data
We aggregate our operating segments into four reportable segments: (i) gathering and processing; (ii) wholesale marketing and terminalling; (iii) storage and transportation; and (iv) investment in pipeline joint ventures. Operations that are not specifically included in the reportable segments are included in Corporate and other segment. The Partnership defines its segments based on how internally reported financial information is regularly reviewed by its chief operating decision maker ("CODM") to analyze financial performance, make decisions and allocate resources.
The CODM is the President of the Partnership. The CODM evaluates performance based on EBITDA for planning and forecasting purposes. The CODM considers budget to actual variances on a monthly basis when making decisions about allocation of operating and capital resources to each segment. EBITDA is an important measure used by management to evaluate the financial performance of our core operations. EBITDA is not a GAAP measure, but the components of EBITDA are computed using amounts that are determined in accordance with GAAP. A reconciliation of EBITDA to Net Income is included in the tables below. We define EBITDA as net income (loss) before net interest expense, income tax expense, depreciation and amortization expense, including amortization of marketing contract intangible, which is included as a component of net revenues in our accompanying condensed consolidated statements of income and comprehensive income.
Assets by segment are not a measure used to assess the performance of the Partnership by the CODM and thus is not disclosed.
The following is a summary of business segment operating performance as measured by EBITDA for the periods indicated (in thousands):
Three Months Ended March 31, 2025
(In thousands)Gathering and ProcessingWholesale Marketing and TerminallingStorage and TransportationInvestments in Pipeline Joint VenturesCorporate and OtherConsolidated
Net revenues:
Affiliate (1)
$38,567 $64,708 $23,046 $— $— $126,321 
Third party80,036 41,991 1,582 — — 123,609 
Total revenue118,603 106,699 24,628 — — 249,930 
Cost of materials and other24,344 89,653 15,027 — 28 129,052 
Operating expenses30,581 3,799 5,161 — 1,444 40,985 
Income from equity method investments— — — (10,150)— (10,150)
Other segment items (2)
(4,261)10 26 — 8,782 4,557 
Segment EBITDA $67,939 $13,237 $4,414 $10,150 $(10,254)85,486 
Depreciation and amortization$24,723 $952 $1,281 $— $760 27,716 
Interest income$(11,365)$(4,161)$(7,021)$— $— (22,547)
Interest expense$— $— $— $— $41,101 41,101 
Income tax expense182 
Net income$39,034 
Capital spending (3)
$71,311 $90 $542 $— $— $71,943 
Three Months Ended March 31, 2024
(In thousands)Gathering and ProcessingWholesale Marketing and TerminallingStorage and TransportationInvestments in Pipeline Joint VenturesCorporate and OtherConsolidated
Net revenues:
Affiliate (1)
$52,553 $52,882 $34,190 $— $— $139,625 
Third party43,330 66,388 2,732 — — 112,450 
Total revenue95,883 119,270 36,922 — — 252,075 
Cost of materials and other17,869 91,904 13,893 — 27 123,693 
Operating expenses19,705 3,828 5,021 — 3,362 31,916 
Income from equity method investments— — — (8,490)— (8,490)
Other segment items (2)
550 (1,736)(119)— 4,760 3,455 
Segment EBITDA$57,759 $25,274 $18,127 $8,490 $(8,149)101,501 
Depreciation and amortization$21,154 $1,712 $2,775 $— $854 26,495 
Amortization of marketing contract intangible$— $1,803 $— $— $— 1,803 
Interest expense$— $— $— $— $40,229 40,229 
Income tax expense326 
Net income$32,648 
Capital spending (3)
$14,723 $(84)$526 $— $— $15,165 
(1) Affiliate revenue for the wholesale marketing and terminalling segment is presented net of amortization expense pertaining to the marketing contract intangible of $1.8 million for the three months ended March 31, 2024. There was no amortization recorded during the three months ended March 31, 2025 related to this intangible, as the associated agreement was terminated on August 5, 2024.
(2) Other segment items include general and administrative expense, other operating (income) loss and other income. Additionally, the wholesale marketing and terminalling segment includes amortization of the marketing contract intangible for the three months ended March 31, 2024.
(3) Capital spending includes additions on an accrual basis.
v3.25.1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Litigation
In the ordinary conduct of our business, we are from time to time subject to lawsuits, investigations and claims, including environmental claims and employee-related matters. Although we cannot predict with certainty the ultimate resolution of lawsuits, investigations and claims asserted against us, including civil penalties or other enforcement actions, we do not believe that any currently pending legal proceeding or proceedings to which we are a party will have a material adverse effect on our financial statements.
Texas Department of Transportation Settlement
Beginning in August 2023, the Partnership was involved in litigation with the State of Texas Department of Transportation. The subject of the litigation was the expansion of the highway where the Partnership's Nettleton Station is situated. As a result of this expansion, two tanks owned by the Partnership were impacted. This litigation was settled in the second quarter of 2024 and resulted in the Partnership recovering $8.3 million in condemnation proceeds, which was recorded in other operating income, net in the condensed consolidated statements of income and comprehensive income. In the first quarter of 2025, we recovered additional $4.3 million related to this settlement, which is recorded in other operating income, net in the accompanying condensed consolidated statements of income and comprehensive income.
Environmental, Health and Safety
We are subject to extensive federal, state and local environmental and safety laws and regulations enforced by various agencies, including the Environmental Protection Agency (the "EPA"), the United States Department of Transportation, the Occupational Safety and Health Administration, as well as numerous state, regional and local environmental, safety and pipeline agencies. These laws and regulations govern the discharge of materials into the environment, waste management practices and pollution prevention measures, as well as the safe operation of our pipelines and the safety of our workers and the public. The State of New Mexico promulgated new regulations to limit emissions from oil and gas operations in 2022. The cost to comply is not expected to be material. Numerous permits or other authorizations are required under these laws and regulations for the operation of our terminals, pipelines, saltwells, trucks and related operations, and may be subject to revocation, modification and renewal.
These laws and permits raise potential exposure to future claims and lawsuits involving environmental and safety matters, which could include soil, surface water and groundwater contamination, air pollution, personal injury and property damage allegedly caused by substances which we may have handled, used, released or disposed of, transported, or that relate to pre-existing conditions for which we may have assumed responsibility. We believe that our current operations are in substantial compliance with existing environmental and safety requirements. However, there have been and we expect that there will continue to be ongoing discussions about environmental and safety matters between us and federal and state authorities, including the receipt and response to notices of violations, citations and other enforcement actions, some of which have resulted or may result in changes to operating procedures and in capital expenditures. While it is often difficult to quantify future environmental or safety related expenditures, we anticipate that continuing capital investments and changes in operating procedures will be required to comply with existing and new requirements, as well as evolving interpretations and enforcement of existing laws and regulations.
Releases of hydrocarbons or hazardous substances into the environment could, to the extent the event is not insured, or is not a reimbursable event under the Omnibus Agreement, subject us to substantial expenses, including costs to respond to, contain and remediate a release, to comply with applicable laws and regulations and to resolve claims by governmental agencies or other persons for personal injury, property damage, response costs, or natural resources damages.
v3.25.1
Leases
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Leases Leases
Lessor
We are the lessor under certain agreements for gathering, transportation, storage, terminalling, and offloading with Delek Holdings. Revenue from these leases are recorded in affiliate revenue in the condensed consolidated statements of income and comprehensive income. We elected the practical expedient to carry forward historical lease classification conclusions until a modification of an existing agreement occurs. Once a modification occurs, the amended agreement is required to be assessed under ASC 842, to determine whether a reclassification of the lease is required.
The net investment in sales-type leases is recorded utilizing the estimated fair value of the underlying leased assets at contract modification date and are nonrecurring fair value measurements. The leased assets were valued using a cost method valuation approach which utilizes Level 3 inputs.
We recognized any billings in excess of minimum volume requirements as variable lease payments, and these variable lease payments were recorded in lease revenues.
Lease income included in the condensed consolidated statements of income and comprehensive income were as follows:
Three Months Ended March 31,
(in thousands)2025
Operating leases:
Lease revenue$48,599 
Sales-type leases:
Interest income (Sales-type rental revenue-fixed minimum)22,547 
Lease revenue (Revenue from variable lease payments)3,040 
Sales-type lease income$25,587 
We recorded $81.2 million in operating lease revenue for the three months ended March 31, 2024. There were no sales-type leases during the three months ended March 31, 2024.
v3.25.1
Subsequent Events
 3 Months Ended
Mar. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Distribution Declaration
On April 28, 2025, our general partner's board of directors declared a quarterly cash distribution of $1.110 per unit, payable on May 15, 2025, to unitholders of record on May 8, 2025.
Delek Permian Gathering Dropdown
On May 1, 2025, Delek Holdings transferred the Delek Permian Gathering purchasing and blending business to the Partnership (the "DPG Dropdown”). In connection with the DPG Dropdown, the Partnership will assume all of Delek Holdings’ rights and obligations to purchase crude oil under certain contracts associated with the Partnership’s existing Midland Gathering System. Total consideration included the execution of the Termination Agreement (as defined below), the execution of the Throughput Agreement (as defined below), the execution of the El Dorado Purchase Agreement (as defined below) and cancellation of $58.8 million in existing receivables owed to the Partnership by Delek Holdings.
Commercial Agreements
On May 1, 2025, the Partnership entered into an agreement to terminate, in its entirety, the East Texas Marketing Agreement effective as of January 1, 2026 (the "Termination Agreement").
On May 1, 2025, in connection with the DPG Dropdown, the Partnership amended and restated a throughput agreement with Delek Holdings for the El Dorado rail facility (the “Throughput Agreement”), which includes a minimum volume commitment for refined products until the termination of the Throughput Agreement, which will occur at the closing of the El Dorado Purchase (as defined below).
Additionally, on May 1, 2025, in connection with the DPG Dropdown, the Partnership and Delek Holdings, entered into an asset purchase agreement (the “El Dorado Purchase Agreement”), whereby Delek Holdings will purchase the related El Dorado rail facility assets from the Partnership for cash consideration of $25.0 million (the “El Dorado Purchase”). The El Dorado Purchase is currently set to close January 1, 2026, subject to certain closing conditions as set forth in the El Dorado Purchase Agreement.
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Pay vs Performance Disclosure    
Net income $ 39,034 $ 32,648
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.1
Organization and Basis of Presentation (Policies)
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with United States Generally Accepted Accounting Principles ("GAAP") have been condensed or omitted, although management believes that the disclosures herein are adequate to make the financial information presented not misleading. Our unaudited condensed consolidated financial statements have been prepared in conformity with GAAP applied on a consistent basis with those of the annual audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024 (our "Annual Report on Form 10-K"), filed with the U.S. Securities and Exchange Commission (the "SEC") on February 26, 2025 and in accordance with the rules and regulations of the SEC. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2024 included in our Annual Report on Form 10-K.
Consolidation, Policy All adjustments necessary for a fair presentation of the financial position and the results of operations for the interim periods presented have been included. All intercompany accounts and transactions have been eliminated. Such intercompany transactions do not include those with Delek Holdings or our general partner, which are presented as related parties in these accompanying condensed consolidated financial statements. All adjustments are of a normal, recurring nature. Operating results for the interim period should not be viewed as representative of results that may be expected for any future interim period or for the full year.
New Accounting Pronouncements Adopted During 2024 and Accounting Pronouncements Not Yet Adopted
Accounting Pronouncements Not Yet Adopted
ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40) ("ASU 2024-03"). ASU 2024-03 requires disaggregation of expenses into specific categories such as purchase of inventory, employee compensation, depreciation, and intangible asset amortization, by relevant expense caption on the statement of operations. This update is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted on either a prospective or retrospective basis. The adoption will not affect our financial position or our results of operations. The adoption of ASU 2024-03 will not affect our financial position or our results of operations, but will result in additional disclosures.
v3.25.1
Acquisitions (Tables)
 3 Months Ended
Mar. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Business Acquisitions, by Acquisition
The table below presents the estimated purchase price (in thousands):
Base purchase price:$291,561 
Less: Adjusted Net Working Capital (as defined in the Gravity Acquisition Agreement)
3,814 
Plus: Various closing adjustments
5,433 
Adjusted purchase price$300,808 
Cash paid $209,297 
Fair value of common units issued (1)
91,511 
Preliminary purchase price$300,808 
(1)The increase from the $85.0 million base purchase price outlined in the purchase agreement for the common unit consideration was driven by an appreciation in the common unit price.
The table below presents the estimated purchase price (in thousands):
Base purchase price:$230,000 
Less: Adjusted Net Working Capital (as defined in the H2O Midstream Acquisition Agreement)
(2,596)
Plus: various closing adjustments
2,331 
Adjusted purchase price$229,735 
Cash paid $159,735 
Fair value of Preferred Units issued70,000 
Preliminary purchase price$229,735 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes the preliminary fair values of assets acquired and liabilities assumed in the Gravity Acquisition as of January 2, 2025 (in thousands):
Assets acquired:
Cash and cash equivalents$5,317 
Accounts receivables16,433 
Inventories1,851 
Other current assets1,681 
Property, plant and equipment208,313 
Operating lease right-of-use assets107 
Customer relationship intangible (1)
50,674 
Other intangibles (1)
31,921 
Other non-current assets58 
Total assets acquired316,355 
Liabilities assumed:
Accounts payable2,459 
Accrued expenses and other current liabilities5,783 
Current portion of operating lease liabilities54 
Asset retirement obligations7,202 
Operating lease liabilities, net of current portion49 
Total liabilities assumed15,547 
Fair value of net assets acquired$300,808 
(1)The acquired intangible assets amount includes the following identified intangibles:
•Customer relationship intangible that is subject to amortization with a preliminary fair value of $50.7 million, which we estimate to be amortized over 10 to 25 years.
•Rights-of-way intangibles are valued at $31.9 million, the majority of which have an indefinite life.
The following table summarizes the preliminary fair values of assets acquired and liabilities assumed in the H2O Midstream Acquisition as of September 11, 2024 (in thousands):
Assets acquired:
Accounts receivables$6,644 
Inventories2,448 
Other current assets879 
Property, plant and equipment172,374 
Operating lease right-of-use assets2,058 
Customer relationship intangible (1)
26,270 
Other intangibles (1)
33,268 
Other non-current assets21 
Total assets acquired243,962 
Liabilities assumed:
Accounts payable1,833 
Accrued expenses and other current liabilities7,045 
Current portion of operating lease liabilities278 
Asset retirement obligations4,852 
Operating lease liabilities, net of current portion219 
Total liabilities assumed14,227 
Fair value of net assets acquired$229,735 
(1)The acquired intangible assets amount includes the following identified intangibles:
•Customer relationship intangible that is subject to amortization with a preliminary fair value of $26.3 million, which will be amortized over an 13.4 years useful life.
•Rights-of-way intangibles are valued at $28.5 million, which have an indefinite life.
•Favorable supply contract intangible that is subject to amortization with a preliminary fair value of $4.8 million which will be amortized over a 4.8 years useful life.
Business Acquisition, Pro Forma Information
The following table summarizes the unaudited pro forma financial information of the Partnership assuming the Gravity Acquisition had occurred on January 1, 2024. The unaudited pro forma financial information has been adjusted to give effect to certain pro forma adjustments that are directly related to this acquisition based on available information and certain assumptions that management believes are factually supportable. The most significant pro forma adjustments relate to (i) incremental interest expense associated with revolving credit facility borrowings incurred in connection with this acquisition, (ii) incremental depreciation resulting from the estimated fair values of acquired property, plant and equipment, (iii) incremental amortization resulting from the estimated fair value of the acquired customer relationship intangible and, (iv) transaction costs. The unaudited pro forma financial information excludes any expected cost savings or other synergies as a result of this acquisition. The unaudited pro forma financial information is not necessarily indicative of the results of operations that would have been achieved had this acquisition been effective as of the date presented, nor is it indicative of future operating results of the combined company. Actual results may differ significantly from the unaudited pro forma financial information.
Three Months Ended March 31,
20252024
(in thousands)
Net sales$249,930 $283,775 
Net income attributable to partners$42,134 $38,148 
v3.25.1
Related Party Transactions (Tables)
 3 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
Schedule of Purchases and Expense Transactions From Affiliates
A summary of income, purchases and expense transactions with Delek Holdings and its affiliates are as follows (in thousands):
Three Months Ended March 31,
20252024
Revenues$126,321 $139,625 
Interest income from sales-type leases$22,547 $— 
Purchases from Affiliates$89,966 $92,882 
Operating and maintenance expenses
$21,940 $18,218 
General and administrative expenses
$2,220 $2,999 
Schedule of Distributions Made to Members or Limited Partners, by Distribution
Date of DistributionDistributions paid to Delek Holdings (in thousands)
February 11, 2025$37,693 
May 15, 2025 (1)
37,594 
Total$75,287 
February 12, 2024$36,198 
May 15, 202436,713 
Total$72,911 
(1) On April 28, 2025, the board of directors of our general partner declared this quarterly cash distribution based on the available cash as of the date of determination. Distributions paid are estimated based on common units held by Delek Holdings as of March 31, 2025.
The table below summarizes the quarterly distributions related to our quarterly financial results:
Quarter EndedTotal Quarterly Distribution Per Limited Partner UnitTotal Cash Distribution (in thousands)
December 31, 2023$1.055$46,010
March 31, 2024$1.070$50,521
June 30, 2024$1.090$51,263
September 30, 2024$1.100$56,613
December 31, 2024$1.105$59,302
March 31, 2025 (1)
$1.110$59,311
(1) On April 28, 2025, the board of directors of our general partner declared this quarterly cash distribution, payable on May 15, 2025, to unitholders of record on May 8, 2025. The total cash distribution is estimated based on the number of common units outstanding as of March 31, 2025.
v3.25.1
Revenues (Tables)
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table represents a disaggregation of revenue for the gathering and processing, wholesale marketing and terminalling, and storage and transportation segments for the periods indicated (in thousands):
Three Months Ended March 31, 2025
Gathering and ProcessingWholesale Marketing and Terminalling Storage and TransportationConsolidated
Service Revenue - Third Party$18,454 $— $1,582 $20,036 
Service Revenue - Affiliate (1)
1,506 6,657 13,974 22,137 
Product Revenue - Third Party61,582 41,991 — 103,573 
Product Revenue - Affiliate3,219 49,326 — 52,545 
Lease Revenue - Affiliate33,842 8,725 9,072 51,639 
Total Revenue$118,603 $106,699 $24,628 $249,930 
Three Months Ended March 31, 2024
Gathering and ProcessingWholesale Marketing and Terminalling Storage and TransportationConsolidated
Service Revenue - Third Party$23,385 $— $2,732 $26,117 
Service Revenue - Affiliate (1)
2 13,216 13,545 26,763 
Product Revenue - Third Party19,945 66,388 — 86,333 
Product Revenue - Affiliate3,950 27,746 — 31,696 
Lease Revenue - Affiliate
48,601 11,920 20,645 81,166 
Total Revenue$95,883 $119,270 $36,922 $252,075 
(1) Net of $1.8 million for the three months ended March 31, 2024, related to marketing contract intangible recorded in the wholesale marketing and terminalling segment. For the three months ended March 31, 2025, no amortization was recorded related to this intangible, as the associated agreement was terminated on August 5, 2024.
Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Our unfulfilled performance obligations as of March 31, 2025 were as follows (in thousands):
Remainder of 2025$161,055 
2026199,025 
2027199,025 
2028152,716 
2029 and thereafter254,907 
Total expected revenue on remaining performance obligations$966,728 
v3.25.1
Net Income per Unit (Tables)
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Net Income Per Unit
The calculation of net income per unit is as follows (in thousands, except unit and per unit amounts):
Three Months Ended March 31,
20252024
Net income$39,034 $32,648 
Weighted average common units outstanding, basic53,604,659 44,406,356 
Dilutive effect of unvested phantom units29,177 16,461 
Weighted average common units outstanding, diluted53,633,836 44,422,817 
Net income per unit:
Basic$0.73 $0.74 
Diluted (1)
$0.73 $0.73 
(1) There were 28,692 and 42,315 anti-dilutive common unit equivalents excluded from the diluted earnings per unit calculation during the three months ended March 31, 2025 and 2024, respectively.
v3.25.1
Long-Term Obligations (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt
Outstanding borrowings under the Partnership’s debt instruments are as follows (in thousands):
March 31, 2025December 31, 2024
DKL Revolving Facility$705,100 $435,400 
2029 Notes1,050,000 1,050,000 
2028 Notes400,000 400,000 
Principal amount of long-term debt2,155,100 1,885,400 
Less: Unamortized discount and premium and deferred financing costs 9,370 10,003 
Total debt, net of unamortized discount and premium and deferred financing costs$2,145,730 $1,875,397 
v3.25.1
Equity (Tables)
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Schedule of Capital Units
The table below summarizes the changes in the number of limited partner units outstanding from December 31, 2024 through March 31, 2025.
Common - Public
Common - Delek Holdings (1)
Total
Balance at December 31, 202417,374,618 34,111,278 51,485,896 
Unit-based compensation awards (2)
14,934 — 14,934 
Issuance of units in connection with Gravity Acquisition2,175,209 — 2,175,209 
Unit repurchase— (243,075)(243,075)
Balance at March 31, 202519,564,761 33,868,203 53,432,964 
(1) As of March 31, 2025, Delek Holdings owned a 63.4% interest in the Partnership.
(2) Unit-based compensation awards are presented net of 6,976 units withheld for taxes for three months ended March 31, 2025.
Schedule of Distributions Made to Members or Limited Partners, by Distribution
Date of DistributionDistributions paid to Delek Holdings (in thousands)
February 11, 2025$37,693 
May 15, 2025 (1)
37,594 
Total$75,287 
February 12, 2024$36,198 
May 15, 202436,713 
Total$72,911 
(1) On April 28, 2025, the board of directors of our general partner declared this quarterly cash distribution based on the available cash as of the date of determination. Distributions paid are estimated based on common units held by Delek Holdings as of March 31, 2025.
The table below summarizes the quarterly distributions related to our quarterly financial results:
Quarter EndedTotal Quarterly Distribution Per Limited Partner UnitTotal Cash Distribution (in thousands)
December 31, 2023$1.055$46,010
March 31, 2024$1.070$50,521
June 30, 2024$1.090$51,263
September 30, 2024$1.100$56,613
December 31, 2024$1.105$59,302
March 31, 2025 (1)
$1.110$59,311
(1) On April 28, 2025, the board of directors of our general partner declared this quarterly cash distribution, payable on May 15, 2025, to unitholders of record on May 8, 2025. The total cash distribution is estimated based on the number of common units outstanding as of March 31, 2025.
v3.25.1
Equity Method Investments (Tables)
 3 Months Ended
Mar. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments
The Partnership's investment balances in these joint ventures were as follows (in thousands):
As of March 31, 2025As of December 31, 2024
Red River$133,690 $136,455 
W2W Holdings91,493 86,117 
CP LLC57,786 59,252 
Andeavor Logistics34,497 35,328 
Total Equity Method Investments$317,466 $317,152 
v3.25.1
Segment Data (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following is a summary of business segment operating performance as measured by EBITDA for the periods indicated (in thousands):
Three Months Ended March 31, 2025
(In thousands)Gathering and ProcessingWholesale Marketing and TerminallingStorage and TransportationInvestments in Pipeline Joint VenturesCorporate and OtherConsolidated
Net revenues:
Affiliate (1)
$38,567 $64,708 $23,046 $— $— $126,321 
Third party80,036 41,991 1,582 — — 123,609 
Total revenue118,603 106,699 24,628 — — 249,930 
Cost of materials and other24,344 89,653 15,027 — 28 129,052 
Operating expenses30,581 3,799 5,161 — 1,444 40,985 
Income from equity method investments— — — (10,150)— (10,150)
Other segment items (2)
(4,261)10 26 — 8,782 4,557 
Segment EBITDA $67,939 $13,237 $4,414 $10,150 $(10,254)85,486 
Depreciation and amortization$24,723 $952 $1,281 $— $760 27,716 
Interest income$(11,365)$(4,161)$(7,021)$— $— (22,547)
Interest expense$— $— $— $— $41,101 41,101 
Income tax expense182 
Net income$39,034 
Capital spending (3)
$71,311 $90 $542 $— $— $71,943 
Three Months Ended March 31, 2024
(In thousands)Gathering and ProcessingWholesale Marketing and TerminallingStorage and TransportationInvestments in Pipeline Joint VenturesCorporate and OtherConsolidated
Net revenues:
Affiliate (1)
$52,553 $52,882 $34,190 $— $— $139,625 
Third party43,330 66,388 2,732 — — 112,450 
Total revenue95,883 119,270 36,922 — — 252,075 
Cost of materials and other17,869 91,904 13,893 — 27 123,693 
Operating expenses19,705 3,828 5,021 — 3,362 31,916 
Income from equity method investments— — — (8,490)— (8,490)
Other segment items (2)
550 (1,736)(119)— 4,760 3,455 
Segment EBITDA$57,759 $25,274 $18,127 $8,490 $(8,149)101,501 
Depreciation and amortization$21,154 $1,712 $2,775 $— $854 26,495 
Amortization of marketing contract intangible$— $1,803 $— $— $— 1,803 
Interest expense$— $— $— $— $40,229 40,229 
Income tax expense326 
Net income$32,648 
Capital spending (3)
$14,723 $(84)$526 $— $— $15,165 
(1) Affiliate revenue for the wholesale marketing and terminalling segment is presented net of amortization expense pertaining to the marketing contract intangible of $1.8 million for the three months ended March 31, 2024. There was no amortization recorded during the three months ended March 31, 2025 related to this intangible, as the associated agreement was terminated on August 5, 2024.
(2) Other segment items include general and administrative expense, other operating (income) loss and other income. Additionally, the wholesale marketing and terminalling segment includes amortization of the marketing contract intangible for the three months ended March 31, 2024.
(3) Capital spending includes additions on an accrual basis.
v3.25.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Operating And Sales-Type Lease, Lease Income
Lease income included in the condensed consolidated statements of income and comprehensive income were as follows:
Three Months Ended March 31,
(in thousands)2025
Operating leases:
Lease revenue$48,599 
Sales-type leases:
Interest income (Sales-type rental revenue-fixed minimum)22,547 
Lease revenue (Revenue from variable lease payments)3,040 
Sales-type lease income$25,587 
v3.25.1
Acquisitions - Gravity Acquisition (Details) - USD ($)
$ in Thousands
 1 Months Ended 3 Months Ended
Jan. 02, 2025
Sep. 11, 2024
Dec. 31, 2024
Mar. 31, 2025
Mar. 31, 2025
Mar. 31, 2024
Business Acquisition [Line Items]            
Revenues       $ 249,930   $ 252,075
Net income       39,034   $ 32,648
Gravity Water Holdings LLC            
Business Acquisition [Line Items]            
Business acquisition, percentage of voting interests acquired 100.00%          
Adjusted purchase price $ 300,808          
Cash consideration 209,297          
Cash deposit     $ 22,800      
Additional consideration paid $ 186,500          
Business combination, incremental direct acquisition and integration costs       3,100    
Revenues         $ 22,900  
Net income         $ 9,900  
Gravity Water Holdings LLC | Common Stock            
Business Acquisition [Line Items]            
Business acquisition, equity interest issued or issuable, number of shares (in shares) 2,175,209          
H2O Midstream            
Business Acquisition [Line Items]            
Business acquisition, percentage of voting interests acquired   100.00%        
Adjusted purchase price   $ 229,735        
Cash consideration   $ 159,735        
Business combination, incremental direct acquisition and integration costs       100    
Revenues       16,500    
Net income       $ 7,100    
v3.25.1
Acquisitions - Gravity - Estimated Purchase Price (Details) - Gravity Water Holdings LLC - USD ($)
$ in Thousands
 1 Months Ended
Jan. 02, 2025
Dec. 31, 2024
Business Acquisition [Line Items]    
Base purchase price: $ 291,561  
Less: Adjusted Net Working Capital (as defined in the H2O Midstream Acquisition Agreement) 3,814  
Purchase Price 300,808  
Plus: various closing adjustments 5,433  
Business combination, consideration transferred, equity interests issued and issuable $ 91,511 $ 85,000
v3.25.1
Acquisitions - Gravity - Schedule of Assets and Liabilities Assumed (Details) - Gravity Water Holdings LLC
$ in Thousands
Jan. 02, 2025
USD ($)
Business Acquisition [Line Items]  
Cash and cash equivalents $ 5,317
Accounts receivables 16,433
Inventories 1,851
Other current assets 1,681
Property, plant and equipment 208,313
Operating lease right-of-use assets 107
Other non-current assets 58
Total assets acquired 316,355
Accounts payable 2,459
Accrued expenses and other current liabilities 5,783
Current portion of operating lease liabilities 54
Asset retirement obligations 7,202
Operating lease liabilities, net of current portion 49
Total liabilities assumed 15,547
Fair value of net assets acquired 300,808
Customer relationships  
Business Acquisition [Line Items]  
Customer relationship intangible, other intangibles $ 50,674
Customer relationships | Minimum  
Business Acquisition [Line Items]  
Estimated useful life (years) 10 years
Customer relationships | Maximum  
Business Acquisition [Line Items]  
Estimated useful life (years) 25 years
Other intangibles  
Business Acquisition [Line Items]  
Customer relationship intangible, other intangibles $ 31,921
v3.25.1
Acquisitions - Gravity - Proforma Financial Information (Details) - Gravity Water Holdings LLC - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Business Acquisition [Line Items]    
Net sales $ 249,930 $ 283,775
Net income attributable to partners $ 42,134 $ 38,148
v3.25.1
Acquisitions - H2O Midstream Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 11, 2024
Mar. 31, 2025
Mar. 31, 2024
Asset Acquisition [Line Items]      
Revenues   $ 249,930 $ 252,075
Net income   39,034 $ 32,648
H2O Midstream      
Asset Acquisition [Line Items]      
Business acquisition, percentage of voting interests acquired 100.00%    
Adjusted purchase price $ 229,735    
Cash consideration 159,735    
Business combination, consideration transferred, equity interests issued and issuable $ 70,000    
Business combination, incremental direct acquisition and integration costs   100  
Revenues   16,500  
Net income   $ 7,100  
v3.25.1
Acquisitions - H2O Midstream Estimated Purchase Price (Details) - H2O Midstream
$ in Thousands
Sep. 11, 2024
USD ($)
Business Acquisition [Line Items]  
Base purchase price: $ 230,000
Less: Adjusted Net Working Capital (as defined in the H2O Midstream Acquisition Agreement) (2,596)
Plus: various closing adjustments 2,331
Adjusted purchase price 229,735
Cash paid 159,735
Fair value of Preferred Units issued $ 70,000
v3.25.1
Acquisitions - H2O Midstream Schedule of Assets and Liabilities Assumed (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Sep. 11, 2024
Customer relationships      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]      
Intangibles, net $ 232,959 $ 186,911  
H2O Midstream      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]      
Accounts receivables     $ 6,644
Inventories     2,448
Other current assets     879
Property, plant and equipment     172,374
Operating lease right-of-use assets     2,058
Other non-current assets     21
Total assets acquired     243,962
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]      
Accounts payable     1,833
Accrued expenses and other current liabilities     7,045
Current portion of operating lease liabilities     278
Asset retirement obligations     4,852
Operating lease liabilities, net of current portion     219
Total liabilities assumed     14,227
Fair value of net assets acquired     229,735
H2O Midstream | Rights-of-way assets      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]      
Rights-of-way assets     28,500
H2O Midstream | Customer relationships      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]      
Customer relationship intangible, other intangibles     26,270
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]      
Intangibles, net     $ 26,300
Estimated useful life (years)     13 years 4 months 24 days
H2O Midstream | Other intangibles      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]      
Customer relationship intangible, other intangibles     $ 33,268
H2O Midstream | Favorable contract      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities [Abstract]      
Intangibles, net     $ 4,800
Estimated useful life (years)     4 years 9 months 18 days
v3.25.1
Related Party Transactions - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Nov. 07, 2012
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2024
Aug. 05, 2024
Related Party Transaction [Line Items]            
Contract with parent, extension, in case of deconsolidation, term           6 months
Contract with parent, extensions, in case of other deconsolidation, term           4 years
Affiliated Entity | DPG Management Agreement, Operating Service And Construction Fee Paid To Partnership            
Related Party Transaction [Line Items]            
Fees paid to the Partnership   $ 0.4 $ 0.4      
Affiliated Entity | Omnibus Agreement            
Related Party Transaction [Line Items]            
Obligation to pay annual fee $ 4.4          
Affiliated Entity | Omnibus Agreement | Delek US            
Related Party Transaction [Line Items]            
Reimbursement of capital expenditures by Delek Holdings   0.0   $ 0.0    
Receivable from related parties   0.0     $ 0.0  
Affiliated Entity | Omnibus Agreement | Delek US | Operating and maintenance expenses            
Related Party Transaction [Line Items]            
Recovery of direct costs   $ 0.0 $ 0.0 $ 0.0    
Affiliated Entity | Minimum            
Related Party Transaction [Line Items]            
Initial term of agreement   5 years        
Affiliated Entity | Maximum            
Related Party Transaction [Line Items]            
Initial term of agreement   10 years        
v3.25.1
Related Party Transactions - Summary of Transactions (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Related Party Transaction [Line Items]    
Revenues $ 249,930 $ 252,075
Interest income from sales-type leases 22,547 0
Operating and maintenance expenses 40,985 31,916
Affiliated Entity    
Related Party Transaction [Line Items]    
Revenues [1] 126,321 139,625
Purchases from Affiliates 89,966 92,882
Operating and maintenance expenses 21,940 18,218
General and administrative expenses $ 2,220 $ 2,999
[1] See Note 3 for a description of our material affiliate revenue and purchases transactions.
v3.25.1
Related Party Transactions - Quarterly Cash Distributions Paid (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Apr. 28, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Jun. 30, 2025
Jun. 30, 2024
Related Party Transaction [Line Items]                    
Distribution made to limited partner, cash distributions paid     $ 59,311 $ 59,302 $ 56,613 $ 51,263 $ 50,521 $ 46,010    
Affiliated Entity                    
Related Party Transaction [Line Items]                    
Distribution made to limited partner, cash distributions paid     $ 37,693     $ 36,713 $ 36,198     $ 72,911
Affiliated Entity | Forecast                    
Related Party Transaction [Line Items]                    
Distribution made to limited partner, cash distributions paid   $ 37,594             $ 75,287  
Affiliated Entity | Subsequent Event                    
Related Party Transaction [Line Items]                    
Cash distributions to limited partner declared $ 37,594                  
v3.25.1
Revenues - Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Disaggregation of Revenue [Line Items]    
Revenues $ 249,930 $ 252,075
Amortization of marketing contract intangible 0 1,803
Affiliated Entity    
Disaggregation of Revenue [Line Items]    
Revenues [1] 126,321 139,625
Lease Revenue - Affiliate 51,639 81,166
Service Revenue - Third Party    
Disaggregation of Revenue [Line Items]    
Revenues 20,036 26,117
Service Revenue - Affiliate    
Disaggregation of Revenue [Line Items]    
Revenues 22,137 26,763
Product Revenue - Third Party    
Disaggregation of Revenue [Line Items]    
Revenues 103,573 86,333
Product Revenue - Affiliate    
Disaggregation of Revenue [Line Items]    
Revenues 52,545 31,696
Gathering and Processing    
Disaggregation of Revenue [Line Items]    
Revenues 118,603 95,883
Gathering and Processing | Affiliated Entity    
Disaggregation of Revenue [Line Items]    
Lease Revenue - Affiliate 33,842 48,601
Gathering and Processing | Service Revenue - Third Party    
Disaggregation of Revenue [Line Items]    
Revenues 18,454 23,385
Gathering and Processing | Service Revenue - Affiliate    
Disaggregation of Revenue [Line Items]    
Revenues 1,506 2
Gathering and Processing | Product Revenue - Third Party    
Disaggregation of Revenue [Line Items]    
Revenues 61,582 19,945
Gathering and Processing | Product Revenue - Affiliate    
Disaggregation of Revenue [Line Items]    
Revenues 3,219 3,950
Wholesale Marketing and Terminalling    
Disaggregation of Revenue [Line Items]    
Revenues 106,699 119,270
Wholesale Marketing and Terminalling | Affiliated Entity    
Disaggregation of Revenue [Line Items]    
Lease Revenue - Affiliate 8,725 11,920
Wholesale Marketing and Terminalling | Service Revenue - Third Party    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Wholesale Marketing and Terminalling | Service Revenue - Affiliate    
Disaggregation of Revenue [Line Items]    
Revenues 6,657 13,216
Wholesale Marketing and Terminalling | Product Revenue - Third Party    
Disaggregation of Revenue [Line Items]    
Revenues 41,991 66,388
Wholesale Marketing and Terminalling | Product Revenue - Affiliate    
Disaggregation of Revenue [Line Items]    
Revenues 49,326 27,746
Storage and Transportation    
Disaggregation of Revenue [Line Items]    
Revenues 24,628 36,922
Storage and Transportation | Affiliated Entity    
Disaggregation of Revenue [Line Items]    
Lease Revenue - Affiliate 9,072 20,645
Storage and Transportation | Service Revenue - Third Party    
Disaggregation of Revenue [Line Items]    
Revenues 1,582 2,732
Storage and Transportation | Service Revenue - Affiliate    
Disaggregation of Revenue [Line Items]    
Revenues 13,974 13,545
Storage and Transportation | Product Revenue - Third Party    
Disaggregation of Revenue [Line Items]    
Revenues 0 0
Storage and Transportation | Product Revenue - Affiliate    
Disaggregation of Revenue [Line Items]    
Revenues $ 0 $ 0
[1] See Note 3 for a description of our material affiliate revenue and purchases transactions.
v3.25.1
Revenues - Narrative (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
USD ($)
Disaggregation of Revenue [Line Items]  
Revenue, remaining performance obligation $ 966,728
Minimum | Affiliated Entity  
Disaggregation of Revenue [Line Items]  
Initial term of agreement 5 years
Maximum | Affiliated Entity  
Disaggregation of Revenue [Line Items]  
Initial term of agreement 10 years
v3.25.1
Revenues - Remaining Performance Obligation (Details)
$ in Thousands
Mar. 31, 2025
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation $ 966,728
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation $ 161,055
Revenue, remaining performance obligation, expected timing of satisfaction 9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation $ 199,025
Revenue, remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation $ 199,025
Revenue, remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation $ 152,716
Revenue, remaining performance obligation, expected timing of satisfaction 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation $ 254,907
Revenue, remaining performance obligation, expected timing of satisfaction
v3.25.1
Net Income per Unit (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Net income per unit [Line Items]    
Net income $ 39,034 $ 32,648
Weighted Average Number of Shares Outstanding, Diluted [Abstract]    
Weighted average limited partner units outstanding, basic (in units) 53,604,659 44,406,356
Dilutive effect of unvested phantom units (in units) 29,177 16,461
Weighted average limited partner units outstanding, diluted (in units) 53,633,836 44,422,817
Net income per limited partner unit:    
Basic (in dollars per unit) $ 0.73 $ 0.74
Diluted (in dollars per unit) $ 0.73 $ 0.73
Common units excluded from computation of earnings per share (in units) 28,692 42,315
Limited Partner    
Weighted Average Number of Shares Outstanding, Diluted [Abstract]    
Weighted average limited partner units outstanding, basic (in units) 53,604,659 44,406,356
Net income per limited partner unit:    
Basic (in dollars per unit) $ 0.73 $ 0.74
Diluted (in dollars per unit) $ 0.73 $ 0.73
v3.25.1
Long-Term Obligations - Schedule of Outstanding Borrowings (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Principal amount of long-term debt $ 2,155,100 $ 1,885,400
Less: Unamortized discount and premium and deferred financing costs 9,370 10,003
Total debt, net of unamortized discount and premium and deferred financing costs 2,145,730 1,875,397
DKL Revolving Facility | Line of Credit | Revolving Credit Facility    
Debt Instrument [Line Items]    
Principal amount of long-term debt 705,100 435,400
2029 Notes | Senior Notes    
Debt Instrument [Line Items]    
Principal amount of long-term debt 1,050,000 1,050,000
2028 Notes | Senior Notes    
Debt Instrument [Line Items]    
Principal amount of long-term debt $ 400,000 $ 400,000
v3.25.1
Long-Term Obligations - DKL Credit Facility (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2024
Mar. 13, 2024
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Oct. 13, 2022
Debt Instrument [Line Items]            
Loss on extinguishment of debt     $ 0 $ 3,571    
Revolving Credit Facility | DKL Revolver, Delek Logistics Term Facility | Secured Debt            
Debt Instrument [Line Items]            
Maximum borrowing capacity           $ 300,000
Repayments of debt   $ 281,300        
Loss on extinguishment of debt       $ 2,100    
Revolving Credit Facility | Fourth Amendment | Line of Credit            
Debt Instrument [Line Items]            
Increase in line of credit facility $ 100,000          
Revolving Credit Facility | DKL Revolver, Senior Secured Revolving Commitment | Line of Credit            
Debt Instrument [Line Items]            
Maximum borrowing capacity 1,150,000          
Weighted average interest rate     7.19%   7.27%  
US LC Sublimit | DKL Revolver | Letter of Credit            
Debt Instrument [Line Items]            
Maximum borrowing capacity 146,900          
Letters of credit     $ 0   $ 0  
US Swing Line Sublimit | DKL Revolver | Line of Credit            
Debt Instrument [Line Items]            
Maximum borrowing capacity $ 31,900          
v3.25.1
Long-Term Obligations - Senior Notes (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Debt Instrument [Line Items]      
Loss on extinguishment of debt $ 0 $ 3,571  
2029 Notes | Senior Notes      
Debt Instrument [Line Items]      
Debt instrument, face amount $ 1,050,000    
Debt instrument, interest rate, stated percentage 8.625%    
Effective interest rate 8.81%    
2029 Notes | Senior Notes | Level 1      
Debt Instrument [Line Items]      
Long-term debt, fair value $ 1,088,700   $ 1,086,900
2028 Notes | Senior Notes      
Debt Instrument [Line Items]      
Debt instrument, face amount $ 400,000    
Debt instrument, interest rate, stated percentage 7.125%    
Effective interest rate 7.38%    
2028 Notes | Senior Notes | Level 1      
Debt Instrument [Line Items]      
Long-term debt, fair value $ 400,200   $ 399,100
2025 Notes | Senior Notes      
Debt Instrument [Line Items]      
Debt instrument, face amount $ 250,000    
Debt instrument, interest rate, stated percentage 6.75%    
Repayments of debt $ 156,200    
Loss on extinguishment of debt $ 1,500    
v3.25.1
Equity - Units Rollforward (Details) - shares
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2025
Increase (Decrease) in Partners' Capital [Roll Forward]    
Beginning balance (in units)   51,485,896
Unit-based compensation awards (in units)   14,934
Unit repurchase (in units)   (243,075)
Ending balance (in units) 53,432,964 53,432,964
Units withheld for taxes (in units)   6,976
Delek US Holdings, Inc.    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Delek's limited partner interest 63.40%  
Gravity Water Holdings LLC    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Issuance of units (in units)   2,175,209
Common- Public | Limited Partner    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Beginning balance (in units)   17,374,618
Unit-based compensation awards (in units)   14,934
Unit repurchase (in units)   0
Ending balance (in units) 19,564,761 19,564,761
Common- Public | Limited Partner | Gravity Water Holdings LLC    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Issuance of units (in units)   2,175,209
Common- Delek | Limited Partner    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Beginning balance (in units)   34,111,278
Unit-based compensation awards (in units)   0
Unit repurchase (in units)   (243,075)
Ending balance (in units) 33,868,203 33,868,203
Common- Delek | Limited Partner | Gravity Water Holdings LLC    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Issuance of units (in units)   0
v3.25.1
Equity - Narrative (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
USD ($)
shares
Mar. 31, 2024
shares
Feb. 24, 2025
USD ($)
transaction
Equity [Abstract]      
Share repurchase program, number of transactions | transaction     1
Common Unit Purchase Agreement, Authorized, Amount     $ 150,000
Common units repurchased (in units) | shares 243,075 0  
Common units repurchased, value $ 10,000    
Common Unit Purchase Agreement, Remaining Authorized, Amount $ 140,000    
v3.25.1
Equity - Cash Distributions (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Equity [Abstract]            
Total Quarterly Distribution Per Limited Partner Unit (in dollars per share) $ 1.110 $ 1.105 $ 1.100 $ 1.090 $ 1.070 $ 1.055
Distribution Made to Limited Partner, Cash Distributions Paid $ 59,311 $ 59,302 $ 56,613 $ 51,263 $ 50,521 $ 46,010
v3.25.1
Equity Method Investments - Narrative (Details) - jointVenture
 3 Months Ended
Mar. 31, 2025
Aug. 05, 2024
Red River    
Schedule of Equity Method Investments [Line Items]    
Equity method investment, ownership percentage 33.00%  
CP LLC And Rangeland Energy    
Schedule of Equity Method Investments [Line Items]    
Number of joint ventures 2  
CP LLC    
Schedule of Equity Method Investments [Line Items]    
Equity method investment, ownership percentage 50.00%  
Andeavor Logistics    
Schedule of Equity Method Investments [Line Items]    
Equity method investment, ownership percentage 33.00%  
W2W Holdings LLC    
Schedule of Equity Method Investments [Line Items]    
Equity method investment, ownership percentage   50.00%
Wink to Webster Pipeline LLC    
Schedule of Equity Method Investments [Line Items]    
Indirect interest, ownership percentage   15.60%
v3.25.1
Equity Method Investments - Schedule of Equity Method Investments (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Schedule of Equity Method Investments [Line Items]    
Equity method investments $ 317,466 $ 317,152
Red River    
Schedule of Equity Method Investments [Line Items]    
Equity method investments 133,690 136,455
W2W Holdings LLC    
Schedule of Equity Method Investments [Line Items]    
Equity method investments 91,493 86,117
CP LLC    
Schedule of Equity Method Investments [Line Items]    
Equity method investments 57,786 59,252
Andeavor Logistics    
Schedule of Equity Method Investments [Line Items]    
Equity method investments $ 34,497 $ 35,328
v3.25.1
Segment Data - Narrative (Details)
 3 Months Ended
Mar. 31, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segments 4
v3.25.1
Segment Data - Schedule of Segments (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting Information [Line Items]    
Revenues $ 249,930 $ 252,075
Cost of materials and other 129,052 123,693
Operating expenses 40,985 31,916
Income from equity method investments (10,150) (8,490)
Other segment items 4,557 3,455
Segment EBITDA 85,486 101,501
Depreciation and amortization 27,716 26,495
Interest income (22,547) 0
Interest expense 41,101 40,229
Income tax expense 182 326
Net income 39,034 32,648
Capital spending 71,943 15,165
Affiliated Entity    
Segment Reporting Information [Line Items]    
Revenues [1] 126,321 139,625
Cost of materials and other [1] 89,966 92,882
Operating expenses 21,940 18,218
Nonrelated Party    
Segment Reporting Information [Line Items]    
Revenues 123,609 112,450
Cost of materials and other 39,086 30,810
Segment Reporting, Reconciling Item, Corporate Nonsegment    
Segment Reporting Information [Line Items]    
Revenues 0 0
Cost of materials and other 28 27
Operating expenses 1,444 3,362
Income from equity method investments 0 0
Other segment items 8,782 4,760
Segment EBITDA (10,254) (8,149)
Depreciation and amortization 760 854
Interest income 0  
Interest expense 41,101 40,229
Capital spending 0 0
Segment Reporting, Reconciling Item, Corporate Nonsegment | Affiliated Entity    
Segment Reporting Information [Line Items]    
Revenues 0 0
Segment Reporting, Reconciling Item, Corporate Nonsegment | Nonrelated Party    
Segment Reporting Information [Line Items]    
Revenues 0 0
Marketing Contract Intangible    
Segment Reporting Information [Line Items]    
Amortization of marketing contract intangible 0 1,803
Marketing Contract Intangible | Segment Reporting, Reconciling Item, Corporate Nonsegment    
Segment Reporting Information [Line Items]    
Amortization of marketing contract intangible   0
Gathering and Processing    
Segment Reporting Information [Line Items]    
Revenues 118,603 95,883
Gathering and Processing | Operating Segments    
Segment Reporting Information [Line Items]    
Revenues 118,603 95,883
Cost of materials and other 24,344 17,869
Operating expenses 30,581 19,705
Income from equity method investments 0 0
Other segment items (4,261) 550
Segment EBITDA 67,939 57,759
Depreciation and amortization 24,723 21,154
Interest income (11,365)  
Interest expense 0 0
Capital spending 71,311 14,723
Gathering and Processing | Operating Segments | Affiliated Entity    
Segment Reporting Information [Line Items]    
Revenues 38,567 52,553
Gathering and Processing | Operating Segments | Nonrelated Party    
Segment Reporting Information [Line Items]    
Revenues 80,036 43,330
Gathering and Processing | Marketing Contract Intangible | Operating Segments    
Segment Reporting Information [Line Items]    
Amortization of marketing contract intangible   0
Wholesale Marketing and Terminalling    
Segment Reporting Information [Line Items]    
Revenues 106,699 119,270
Wholesale Marketing and Terminalling | Operating Segments    
Segment Reporting Information [Line Items]    
Revenues 106,699 119,270
Cost of materials and other 89,653 91,904
Operating expenses 3,799 3,828
Income from equity method investments 0 0
Other segment items 10 (1,736)
Segment EBITDA 13,237 25,274
Depreciation and amortization 952 1,712
Interest income (4,161)  
Interest expense 0 0
Capital spending 90 (84)
Wholesale Marketing and Terminalling | Operating Segments | Affiliated Entity    
Segment Reporting Information [Line Items]    
Revenues 64,708 52,882
Wholesale Marketing and Terminalling | Operating Segments | Nonrelated Party    
Segment Reporting Information [Line Items]    
Revenues 41,991 66,388
Wholesale Marketing and Terminalling | Marketing Contract Intangible | Operating Segments    
Segment Reporting Information [Line Items]    
Amortization of marketing contract intangible   1,803
Storage and Transportation    
Segment Reporting Information [Line Items]    
Revenues 24,628 36,922
Storage and Transportation | Operating Segments    
Segment Reporting Information [Line Items]    
Revenues 24,628 36,922
Cost of materials and other 15,027 13,893
Operating expenses 5,161 5,021
Income from equity method investments 0 0
Other segment items 26 (119)
Segment EBITDA 4,414 18,127
Depreciation and amortization 1,281 2,775
Interest income (7,021)  
Interest expense 0 0
Capital spending 542 526
Storage and Transportation | Operating Segments | Affiliated Entity    
Segment Reporting Information [Line Items]    
Revenues 23,046 34,190
Storage and Transportation | Operating Segments | Nonrelated Party    
Segment Reporting Information [Line Items]    
Revenues 1,582 2,732
Storage and Transportation | Marketing Contract Intangible | Operating Segments    
Segment Reporting Information [Line Items]    
Amortization of marketing contract intangible   0
Investments in Pipeline Joint Ventures | Operating Segments    
Segment Reporting Information [Line Items]    
Revenues 0 0
Cost of materials and other 0 0
Operating expenses 0 0
Income from equity method investments (10,150) (8,490)
Other segment items 0 0
Segment EBITDA 10,150 8,490
Depreciation and amortization 0 0
Interest income 0  
Interest expense 0 0
Capital spending 0 0
Investments in Pipeline Joint Ventures | Operating Segments | Affiliated Entity    
Segment Reporting Information [Line Items]    
Revenues 0 0
Investments in Pipeline Joint Ventures | Operating Segments | Nonrelated Party    
Segment Reporting Information [Line Items]    
Revenues $ 0 0
Investments in Pipeline Joint Ventures | Marketing Contract Intangible | Operating Segments    
Segment Reporting Information [Line Items]    
Amortization of marketing contract intangible   $ 0
[1] See Note 3 for a description of our material affiliate revenue and purchases transactions.
v3.25.1
Commitments and Contingencies - Narrative (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2025
USD ($)
tank
Sep. 30, 2024
USD ($)
Commitments and Contingencies Disclosure [Abstract]    
Number of tanks impacted by expansion | tank 2  
Proceeds from legal settlements | $ $ 4.3 $ 8.3
v3.25.1
Leases - Narrative (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
USD ($)
Mar. 31, 2024
USD ($)
leases
Leases [Abstract]    
Lease revenue | $ $ 48,599 $ 81,200
Number of sales-type leases | leases   0
v3.25.1
Leases - Schedule of Lease Income (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating leases:    
Lease revenue $ 48,599 $ 81,200
Sales-type leases:    
Interest income from sales-type leases 22,547 $ 0
Lease revenue (Revenue from variable lease payments) 3,040  
Sales-type lease income $ 25,587  
v3.25.1
Subsequent Events - (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
May 01, 2025
Apr. 28, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Subsequent Event [Line Items]                
Cash distributions per limited partner unit (in dollars per unit)     $ 1.110 $ 1.105 $ 1.100 $ 1.090 $ 1.070 $ 1.055
Subsequent Event                
Subsequent Event [Line Items]                
Cash distributions per limited partner unit (in dollars per unit)   $ 1.110            
Subsequent Event | Delek US Holdings, Inc.                
Subsequent Event [Line Items]                
Cancellation of accounts receivable $ 58.8              
Proceeds from sale of rail facility assets $ 25.0