Delek US Holdings Reports Fourth Quarter and Full-Year 2013

  Delek US Holdings Reports Fourth Quarter and Full-Year 2013

  *El Dorado turnaround completed; Light crude capability increased
  *Declares $0.15 regular quarterly dividend

Business Wire

BRENTWOOD, Tenn. -- February 26, 2014

Delek US Holdings, Inc. (NYSE: DK) (“Delek US”), a diversified energy company
with assets in the petroleum refining, logistics and retail industries, today
announced financial results for the fourth quarter and full-year 2013.

For the three months ended December 31, 2013, Delek US reported a fourth
quarter net loss of $(4.7) million, or $(0.08) per basic share, versus net
income of $64.3 million, or $1.06 per diluted share, in the fourth quarter
2012.

For the fourth quarter 2013, the decrease in earnings compared to the prior
year period is primarily attributable to the refining segment. This segment
faced less favorable market conditions as the benchmark Gulf Coast 5-3-2 crack
spread declined year-over-year. Also, results were negatively impacted by
approximately $6.8 million after tax of special items that consisted primarily
of additional general and administrative expenses and turnaround related
activity. For the fourth quarter 2013, the company incurred a higher income
tax expense, which resulted in an annual effective tax rate of approximately
37.6%, when adjusted for minority interest.

For the full year 2013, Delek US reported net income of $117.7 million, or
$1.96 per diluted share, versus net income of $272.8 million, or $4.57 per
diluted share in 2012.

Uzi Yemin, Chairman, President and Chief Executive Officer of Delek US stated,
“We faced a range of market conditions during 2013, from a strong first half
of the year to a much more challenging second half. While markets have
continued to change, our focus has remained on the execution of our strategy
to increase flexibility as well as the continued growth of our company. As a
result of this focus, we achieved record annual crude throughput at the Tyler
refinery, unlocked additional value in and expanded our logistics assets,
while returning a record amount of cash to our shareholders through increased
dividends and share repurchases. During the fourth quarter, we completed a
planned partial turnaround at our Tyler refinery, opened four large format
stores and acquired a terminal in our logistics segment.”

As of December 31, 2013, Delek US had a cash balance of $400.0 million and
total debt of $410.3 million, resulting in net debt of $10.3 million. This
compares to $59.2 million of net cash at September 30, 2013. As of December
31, 2013, Delek US’ subsidiary, Delek Logistics Partners, LP (NYSE: DKL)
(“Delek Logistics”), had a cash balance of approximately $0.9 million and
$164.8 million of debt, which is included in the consolidated amounts on Delek
US’ balance sheet. Excluding Delek Logistics, Delek US had $399.1 million in
cash and $245.5 million of debt, or $153.6 million net cash position.

Capital Project Update

El Dorado Refinery

The El Dorado turnaround was completed during February 2014. In addition, the
pre-flash tower project to increase light crude capability by 10,000 barrels
per day was completed, along with the replacement of the fluid catalytic
cracking reactor with state of the art technology. These projects are expected
to improve operating efficiencies and crude flexibility at this refinery,
allowing it to operate at a crude throughput of 80,000 barrels per day using
either a light crude or heavier medium sour crude slate, depending on refined
product and crude oil pricing.

Tyler Refinery

In December 2013, planned turnaround work was done on some units including the
diesel hydrotreater and coker. This work was completed during a two week
period and reduced crude throughput and production of light products,
particularly ULSD. The final portion of Tyler’s planned turnaround will be
completed during the first quarter 2015.

Regular Quarterly Dividend

Delek US announced today that its Board of Directors declared its regular
quarterly cash dividend of $0.15 per share. Shareholders of record on March
11, 2014 will receive this cash dividend payable on March 25, 2014.

Yemin concluded, “We have started 2014 with steps that should create
additional growth and value for the company. So far this year, the completion
of the El Dorado turnaround increased the refinery’s light crude capability
and the recent El Dorado drop down to Delek Logistics further unlocked the
value of our logistics assets. As we move forward, we remain focused on
investing in our business and returning value to our shareholders.”

Refining Segment

Refining segment contribution margin was $45.8 million in the fourth quarter
2013, compared to $149.7 million in the fourth quarter 2012. Contribution
margin at the El Dorado refinery was $20.5 million in the fourth quarter 2013
compared to a contribution margin of $54.9 million in fourth quarter 2012.
Contribution margin at Tyler was $23.6 million in the fourth quarter 2013
compared to $95.3 million in the same prior year period.

Performance in the refining segment was lower on a year-over-year basis due to
several factors. The fourth quarter 2013 benchmark Gulf Coast 5-3-2 crack
spread averaged $13.11 per barrel compared with a 5-3-2 crack spread of $26.71
during fourth quarter 2012. In addition, the crude oil futures market was
backwardated during the fourth quarter 2013, compared to a market that was in
contango during the fourth quarter 2012, further increasing the average crude
oil price on a year-over-year basis at the refineries. Finally, WTI Midland
crude discount to WTI Cushing, which averaged $2.32 per barrel in fourth
quarter 2013 compared to an average of $3.55 per barrel in the
prior-year-period, was also a contributing factor to lower refining margins.
Since the end of the fourth quarter 2013, this differential has widened during
the first quarter to approximately $3.36 per barrel on average, which reduces
the cost on 87,000 barrels per day of crude received from Midland in the
refining system.

Tyler, Texas Refinery

Total throughput at the Tyler refinery was 58,531 barrels per day in the
fourth quarter 2013, versus 66,581 barrels per day in the fourth quarter 2012.
Total sales volumes were 59,693 barrels per day in the fourth quarter 2013,
compared to 67,617 barrels per day in the fourth quarter 2012. Throughput and
sales volumes were reduced on a year-over-year basis during the fourth quarter
2013, primarily as a result of planned turnaround work completed on several
units in December 2013.

Direct operating expense was $26.6 million, or $4.85 per barrel sold, in the
fourth quarter 2013, versus $26.4 million, or $4.25 per barrel sold, in the
fourth quarter 2012. This increase per barrel was primarily due to lower
throughputs associated with planned turnaround work during December 2013.

Tyler refining margin was $9.15 per barrel sold in the fourth quarter 2013,
compared to $19.57 per barrel sold for the same quarter last year. This
decrease was primarily due to less favorable market conditions and the factors
discussed above.

El Dorado, Arkansas Refinery

Total throughput at the El Dorado refinery was 73,497 barrels per day in the
fourth quarter 2013 compared to 74,765 barrels per day in the fourth quarter
2012. Net barrels sold, which exclude buy/sell activity, was 70,000 barrels
per day in the fourth quarter 2013 compared to 70,133 barrels per day in the
fourth quarter 2012. On a sequential basis, sales volume declined from 79,804
barrels per day in the third quarter 2013 primarily due to preparation for the
January 2014 turnaround as light product inventory was increased to meet
expected product demand during the turnaround period.

The El Dorado refinery operated at 64,837 barrels per day of crude throughput
during the quarter compared to 63,199 barrels per day in the fourth quarter
2012. The refinery processed approximately 1,477 barrels per day of
intermediate products from Tyler during the fourth quarter 2013. In addition,
approximately 8,100 barrels per day of crude supplied by rail, including 2,900
barrels per day of heavy Canadian, were purchased during the fourth quarter
2013.

Direct operating expense was $28.6 million, or $4.45 per net barrel sold in
the fourth quarter 2013, compared to $27.7 million, or $4.30 per net barrel
sold, during the fourth quarter of 2012. This increase was primarily due to
outside services.

El Dorado refining margin was $7.62 per net barrel sold in the fourth quarter
2013, compared to $12.80 per net barrel sold during the fourth quarter of
2012. This decrease was due to market conditions and other factors discussed
above.

Logistics Segment

Delek US and its affiliates beneficially own approximately 62 percent
(including the 2 percent general partner interest) of all outstanding Delek
Logistics units. While the logistics segment results include 100 percent of
the performance of Delek Logistics, adjustments for the minority interests are
made on a consolidated basis.

The logistics segment’s contribution margin in the fourth quarter 2013 was
$18.6 million. Year-over-year results benefited from a combination of higher
volumes in the Lion pipeline and SALA gathering systems, the sale of renewable
identification numbers (RINs) related to blending ethanol, a full quarter of
contribution from contracts associated with services provided to Delek US’
refineries and fees generated from the Paline pipeline. The segment’s results
also benefited from Delek Logistics’ acquisition of the product terminal and
substantially all of the storage tanks at the Tyler, Texas refinery from a
subsidiary of Delek US in July 2013.

On February 10, 2014, Delek US completed a drop down of logistics assets to
Delek Logistics with the sale of certain storage tanks and the products
terminal located at the El Dorado refinery for $95.9 million in cash.

Retail Segment

Retail segment contribution margin was $7.1 million in the fourth quarter
2013. This compares with fourth quarter 2012 results of $8.7 million. Higher
fuel margins were offset by lower merchandising margins and higher operating
costs on a year-over-year basis. Merchandising margin decreased to 28.0% in
fourth quarter 2013, compared to 29.6% in the same prior year period. Fuel
margin increased to 14.2 cents per gallon in the fourth quarter 2013 from 13.8
cents per gallon in the prior year period. Operating expenses were $33.6
million compared to $32.0 million in the fourth quarter 2012.

At the conclusion of the fourth quarter 2013, the retail segment operated 361
locations, versus 373 locations at the end of the fourth quarter 2012. Ten new
large-format stores were opened during 2013 including four during the fourth
quarter. An additional 10 to 15 large-format stores are expected to be opened
during 2014.

Fourth Quarter and Full-Year 2013 Results | Conference Call Information

The Company will hold a conference call to discuss its fourth quarter and
full-year 2013 results on February 27, 2014 at 10:00 a.m. Central Time.
Investors will have the opportunity to listen to the conference call live by
going to www.DelekUS.com and clicking on the Investor Relations tab, at least
15 minutes prior to the call to register, download and install any necessary
software. For those who cannot listen to the live broadcast, a telephonic
replay will be available through May 27, 2014 by dialing (855) 859-2056,
passcode 44428260. An archived version of the replay will also be available at
www.DelekUS.com for 90 days.

Investors may also wish to listen to Delek Logistics’ (NYSE: DKL) fourth
quarter earnings conference call held on February 26, 2014 and review Delek
Logistics’ earnings press release. Market trends and information disclosed by
Delek Logistics may be relevant to the logistics segment reported by Delek US.
Both a replay of the conference call and press release for Delek Logistics are
available online at www.deleklogistics.com.

About Delek US Holdings, Inc.

Delek US Holdings, Inc. is a diversified downstream energy company with assets
in petroleum refining, logistics and convenience store retailing. The refining
segment consists of refineries operated in Tyler, Texas and El Dorado,
Arkansas with a combined nameplate production capacity of 140,000 barrels per
day. Delek US Holdings, Inc. and its affiliates also own approximately 62
percent (including the 2 percent general partner interest) of Delek Logistics
Partners, LP. Delek Logistics Partners, LP (NYSE: DKL) is a growth-oriented
master limited partnership focused on owning and operating midstream energy
infrastructure assets. The retail segment markets motor fuel and convenience
merchandise through a network of approximately 361 company-operated
convenience store locations operated under the MAPCO Express®, MAPCO Mart®,
East Coast®, Fast Food and Fuel™, Favorite Markets®, Delta Express® and
Discount Food Mart™ brand names.

Safe Harbor Provisions Regarding Forward-Looking Statements

This press release contains forward-looking statements that are based upon
current expectations and involve a number of risks and uncertainties.
Statements concerning current estimates, expectations and projections about
future results, performance, prospects and opportunities and other statements,
concerns, or matters that are not historical facts are “forward-looking
statements,” as that term is defined under the federal securities laws.

Investors are cautioned that the following important factors, among others,
may affect these forward-looking statements. These factors include but are not
limited to: risks and uncertainties with respect to the quantities and costs
of crude oil we are able to obtain and the price of the refined petroleum
products we ultimately sell; losses from derivative instruments; management’s
ability to execute its strategy of growth through acquisitions and the
transactional risks associated with acquisitions; our competitive position and
the effects of competition; the projected growth of the industries in which we
operate; changes in the scope, costs, and/or timing of capital and maintenance
projects; general economic and business conditions, particularly levels of
spending relating to travel and tourism or conditions affecting the
southeastern United States; and other risks contained in our filings with the
United States Securities and Exchange Commission.

Forward-looking statements should not be read as a guarantee of future
performance or results and will not be accurate indications of the times at,
or by which such performance or results will be achieved. Forward-looking
information is based on information available at the time and/or management’s
good faith belief with respect to future events, and is subject to risks and
uncertainties that could cause actual performance or results to differ
materially from those expressed in the statements. Delek US undertakes no
obligation to update or revise any such forward-looking statements.






Delek US Holdings, Inc.

Consolidated Balance Sheets

                                                  December 31,  December 31,
                                                   2013           2012
                                                   (In millions, except share

                                                   and per share data)
ASSETS                                             (Unaudited)
Current assets:
Cash and cash equivalents                          $  400.0       $  601.7
Accounts receivable                                250.5          256.6
Inventory                                          672.3          477.6
Other current assets                               87.7          23.8       
Total current assets                               1,410.5       1,359.7    
Property, plant and equipment:
Property, plant and equipment                      1,683.7        1,456.2
Less: accumulated depreciation                     (405.2     )   (332.0     )
Property, plant and equipment, net                 1,278.5       1,124.2    
Goodwill                                           72.7           72.7
Other intangibles, net                             13.3           16.7
Other non-current assets                           59.4          50.4       
Total assets                                       $  2,834.4    $  2,623.7 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable                                   $  602.0       $  568.8
Current portion of long-term debt and capital      33.7           52.2
lease obligations
Obligation under Supply and Offtake Agreement      331.0          285.2
Accrued expenses and other current liabilities     114.1         92.9       
Total current liabilities                          1,080.8       999.1      
Non-current liabilities:
Long-term debt and capital lease obligations,      376.6          310.0
net of current portion
Environmental liabilities, net of current          9.2            10.4
portion
Asset retirement obligations                       8.5            8.3
Deferred tax liabilities                           220.0          183.2
Other non-current liabilities                      18.9          34.7       
Total non-current liabilities                      633.2         546.6      
Stockholders’ equity:
Preferred stock, $0.01 par value, 10,000,000
shares authorized, no shares issued and            —              —
outstanding
Common stock, $0.01 par value, 110,000,000
shares authorized, 60,229,107 shares and           0.6            0.6
59,619,548 shares issued and outstanding at
December 31, 2013 and 2012, respectively
Additional paid-in capital                         384.5          366.9
Accumulated other comprehensive income             (4.0       )   0.4
Treasury stock, 1,000,000 shares, at cost          (37.9      )   —
Retained earnings                                  591.8          531.4
Non-controlling interest in subsidiaries           185.4         178.7      
Total stockholders’ equity                         1,120.4       1,078.0    
Total liabilities and stockholders’ equity         $  2,834.4    $  2,623.7 







Delek US Holdings, Inc.

Consolidated Statements of Operations
                                                
                     Three Months Ended            Year Ended

                     December 31,                  December 31,
                     2013          2012           2013          2012
                     (Unaudited)                   (Unaudited)
                     (In millions, except share and per share data)
                     
Net sales            $  1,937.7     $  2,184.5     $  8,706.8     $  8,726.7
Operating costs
and expenses:
Cost of goods sold   1,769.0        1,923.4        7,872.1        7,704.4
Operating expenses   96.1           96.0           386.7          363.3
General and
administrative       32.8           28.8           120.5          103.5
expenses
Depreciation and     25.6           21.3           89.8           82.5
amortization
Other operating
(income) expense,    1.6           —             —             (0.1       )
net
Total operating      1,925.1       2,069.5       8,469.1       8,253.6    
costs and expenses
Operating income     12.6          115.0         237.7         473.1      
Interest expense     9.7            9.8            37.7           45.7
Interest income      —              (0.1       )   (0.3       )   (0.2       )
Other income, net    0.5           —             (6.3       )   —          
Total
non-operating        10.2          9.7           31.1          45.5       
expenses, net
Income from
continuing           2.4            105.3          206.6          427.6
operations before
income taxes
Income tax expense   2.8           37.8          70.9          151.6      
Net (loss) income    (0.4       )   67.5           135.7          276.0
Net income
attributed to        4.3           3.2           18.0          3.2        
non-controlling
interest
Net (loss) income
attributable to      $  (4.7    )   $  64.3       $  117.7      $  272.8   
Delek
Basic (loss)         $  (0.08   )   $  1.08       $  1.99       $  4.65    
earnings per share
Diluted
(loss)earnings per   $  (0.08   )   $  1.06       $  1.96       $  4.57    
share
Weighted average
common shares
outstanding:
Basic                59,161,947    59,529,771    59,186,921    58,719,968 
Diluted              59,769,744    60,424,529    60,047,138    59,644,798 
Dividends declared
per common share     $  0.2500     $  0.2000     $  0.9500     $  0.6025  
outstanding







Delek US Holdings, Inc.
Condensed Consolidated Statements of Cash Flows
(In millions)

                                                      
                                                       Year Ended December 31,
                                                       2013         2012
Cash Flow Data                                         (Unaudited) 
Cash flows provided by operating activities:           $  102.7      $ 462.9
Cash flows used in investing activities:               (244.4    )   (159.2  )
Cash flows (used in) provided by financing             (60.0     )  72.1    
activities:
Net (decrease) increase in cash and cash equivalents   $  (201.7 )  $ 375.8 







Delek US Holdings, Inc.
Segment Data (Unaudited)
(In millions)

                Three Months Ended December 31, 2013
                                                       Corporate,

                Refining     Retail     Logistics  Other and     Consolidated

                                                       Eliminations
Net sales
(excluding
intercompany     $ 1,349.4     $ 444.6     $ 198.6     $  (54.9  )    $   1,937.7
fees and
sales)
Intercompany     56.8          —           24.5        (81.3     )    —
fees and sales
Operating
costs and
expenses:
Cost of goods    1,303.7       403.9       197.3       (135.9    )    1,769.0
sold
Operating        56.7         33.6       7.2        (1.4      )    96.1
expenses
Segment
contribution     $ 45.8       $ 7.1      $ 18.6     $  1.1        $   72.6
margin
General and
administrative                                                        32.8
expenses
Depreciation
and                                                                   25.6
amortization
Other
operating                                                             1.6
expense
Operating                                                             $   12.6
income
Total assets     $ 1,907.4    $ 449.0    $ 274.8    $  203.2      $   2,834.4
Capital
spending
(excluding       $ 75.5       $ 16.3     $ 1.8      $  11.4       $   105.0
business
combinations)



                 Three Months Ended December 31, 2012
                                                       Corporate,

                Refining      Retail      Logistics   Other and      Consolidated

                                                       Eliminations
Net sales
(excluding
intercompany     $ 1,530.8     $ 450.5     $ 202.6     $  0.6         $   2,184.5
fees and
sales)
Intercompany     42.1          —           13.4        (55.5     )    —
fees and sales
Operating
costs and
expenses:
Cost of goods    1,368.5       409.8       196.7       (51.6     )    1,923.4
sold
Operating        54.7         32.0       9.8        (0.5      )    96.0
expenses
Segment
contribution     $ 149.7      $ 8.7      $ 9.5      $  (2.8   )    $   165.1
margin
General and
administrative                                                        28.8
expenses
Depreciation
and                                                                   21.3
amortization
Other
operating                                                             —
expense
Operating                                                             $   115.0
income
Total assets     $ 1,835.8    $ 425.6    $ 283.3    $  79.0       $   2,623.7
Capital
spending
(excluding       $ 16.2       $ 11.5     $ 9.9      $  14.2       $   51.8
business
combinations)







Delek US Holdings, Inc.
Segment Data (Unaudited)
(In millions)
                
                 Year Ended December 31, 2013
                                                         Corporate,

                Refining     Retail       Logistics  Other and     Consolidated

                                                         Eliminations
Net sales
(excluding
intercompany     $ 6,059.6     $ 1,871.4     $ 829.8     $  (54.0  )    $  8,706.8
fees and
sales)
Intercompany     376.2         —             77.6        (453.8    )    —
fees and sales
Operating
costs and
expenses:
Cost of goods    5,852.6       1,691.3       811.3       (483.1    )    7,872.1
sold
Operating        227.7        132.5        30.3       (3.8      )    386.7      
expenses
Segment
contribution     $ 355.5      $ 47.6       $ 65.8     $  (20.9  )    $  448.0
margin
General and
administrative                                                          120.5
expenses
Depreciation
and                                                                     89.8
amortization
Other
operating                                                               —          
expense
Operating                                                               $  237.7   
income
Capital
spending
(excluding       $ 144.3      $ 37.9       $ 5.1      $  35.0       $  222.3   
business
combinations)



                 Year Ended December 31, 2012
                                                         Corporate,

                Refining      Retail        Logistics   Other and      Consolidated

                                                         Eliminations
Net sales
(excluding
intercompany     $ 6,070.8     $ 1,877.8     $ 775.9     $  2.2         $  8,726.7
fees and
sales)
Intercompany     170.1         —             42.6        (212.7    )    —
fees and sales
Operating
costs and
expenses:
Cost of goods    5,441.1       1,704.6       757.9       (199.2    )    7,704.4
sold
Operating        206.7        128.0        30.4       (1.8      )    363.3      
expenses
Segment
contribution     $ 593.1      $ 45.2       $ 30.2     $  (9.5   )    $  659.0
margin
General and
administrative                                                          103.5
expenses
Depreciation
and                                                                     82.5
amortization
Other
operating                                                               (0.1       )
income
Operating                                                               $  473.1   
income
Capital
spending
(excluding       $ 65.9       $ 29.1       $ 10.5     $  26.5       $  132.0   
business
combinations)








                                   Three Months Ended      Year Ended
Refining Segment                                        
                                   December 31,            December 31,
                                   2013       2012        2013       2012
Tyler Refinery                     (Unaudited)             (Unaudited)
Days operated in period            92          92          365         366
Total sales volume (average        59,693      67,617      63,696      61,412
barrels per day)^(1)
Products manufactured (average
barrels per day):
Gasoline                           31,035      38,533      33,791      33,045
Diesel/Jet                         23,276      22,913      24,374      21,883
Petrochemicals, LPG, NGLs          1,567       1,810       2,292       2,268
Other                              1,725      2,018      1,847      1,989
Total production                   57,603     65,274     62,304     59,185
Throughput (average barrels per
day):
Crude oil                          55,624      59,941      58,327      56,426
Other feedstocks                   2,907      6,640      4,970      3,450
Total throughput                   58,531     66,581     63,297     59,876
Per barrel of sales:
Tyler refining margin              $ 9.15      $ 19.57     $ 14.04     $ 20.39
Direct operating expenses          $ 4.85      $ 4.25      $ 4.61      $ 4.71



                                   Three Months Ended      Year Ended

                                   December 31,            December 31,
                                   2013        2012        2013        2012
El Dorado Refinery                 (Unaudited)             (Unaudited)
Days operated in period            92          92          365         366
Total sales volume (average        70,000      70,133      74,180      73,709
barrels per day)^(2)
Products manufactured (average
barrels per day):
Gasoline                           37,587      38,368      34,908      33,411
Diesel                             27,980      25,172      27,097      27,163
Petrochemicals, LPG, NGLs          458         1,377       997         1,318
Asphalt                            6,361       7,388       7,691       6,897
Other                              942        844        949        2,583
Total production                   73,328     73,149     71,642     71,372
Throughput (average barrels per
day):
Crude oil                          64,837      63,199      65,887      65,375
Other feedstocks                   8,660      11,566     6,872      7,797
Total throughput                   73,497     74,765     72,759     73,172
Per barrel of sales:
El Dorado refining margin          $ 7.62      $ 12.80     $ 8.97      $ 12.56
Direct operating expenses          $ 4.45      $ 4.30      $ 4.26      $ 3.73
Pricing statistics (average for
the period presented):
WTI — Cushing crude oil (per       $ 97.55     $ 88.18     $ 98.04     $ 94.19
barrel)
US Gulf Coast 5-3-2 crack spread   $ 13.11     $ 26.71     $ 17.93     $ 26.50
(per barrel)
US Gulf Coast Unleaded Gasoline    $ 2.47      $ 2.57      $ 2.69      $ 2.80
(per gallon)
Ultra low sulfur diesel (per       $ 2.92      $ 3.04      $ 2.97      $ 3.05
gallon)
Natural gas (per MMBTU)            $ 3.85      $ 3.39      $ 3.73      $ 2.75







Logistics           Three Months Ended              Year Ended
Segment                                          
                    December 31,                    December 31,
                    2013            2012           2013          2012
                    (Unaudited)                     (Unaudited)
Pipelines &
Transportation:
(average bpd)
Lion Pipeline
System:
Crude pipelines        44,096          43,164         46,515         46,027
(non-gathered)
Refined products
pipelines to           55,637          47,382         49,694         45,220
Enterprise
Systems
SALA Gathering         21,904          21,679         22,152         20,747
System
East Texas Crude       7,410           57,761         19,896         55,068
Logistics System
                                                                   
Wholesale
Marketing &
Terminalling:
East Texas -
Tyler Refinery
sales volumes          55,279          61,317         58,773         57,574
(average
bpd)^(3)
West Texas
marketing
throughputs            18,009          17,316         18,156         16,523
(average
bpd)^(4)
West Texas
marketing margin    $  1.24          $ 2.67         $ 2.12         $ 2.56
per barrel
Terminalling
throughputs            69,994          12,637         75,438         15,420
(average
bpd)^(5)



                    Three Months Ended              Year Ended
Retail Segment
                    December 31,                    December 31,
                    2013             2012           2013           2012
                    (Unaudited)                     (Unaudited)
Number of stores       361             373            361            373
(end of period)
Average number         366             371            368            374
of stores
Retail fuel
sales (thousands       101,184         101,062        409,086        404,558
of gallons)
Retail fuel
margin ($ per       $  0.142         $ 0.138        $ 0.173        $ 0.146
gallon)
Merchandise
sales (in           $  93,638        $ 90,389       $ 381,665      $ 378,166
thousands)
Merchandise            28.0     %      29.6    %      28.3    %      29.3    %
margin %
Change in
same-store fuel        (2.7     )%     (2.5    )%     (1.6    )%     0.4     %
gallons sold
Change in
same-store             3.9      %      0.8     %      0.6     %      3.4     %
merchandise
sales

^(1) Sales volume includes 222 bpd and 1,277 bpd sold to the logistics segment
during the three months and year ended December 31, 2013 and 1,420 bpd and 774
bpd during the three months and year ended December31, 2012, respectively.
Sales volume also includes sales of 1,616 bpd and 1,345 bpd during the three
months and year ended December31 2013 and 2,744 bpd and 2,920 bpd three
months and year ended December31, 2012, respectively, of intermediate
products.
^(2) Sales volume includes 10,426 bpd and 8,200 bpd sold to the retail segment
during the three months and year ended December31, 2013, respectively, and
3,365 bpd and 2,958 bpd during the three months and year ended December31,
2012, respectively. Sales volume excludes 17,717 bpd and 20,572 bpd of
buy/sell activity during the three and year ended December31, 2013 and 19,295
bpd and 11,763 bpd during the three and year ended December3, 2012,
respectively.
^(3) Excludes jet fuel and petroleum coke
^(4) Excludes bulk ethanol and biodiesel
^(5) Consists of terminalling throughputs at our Tyler, Texas, North Little
Rock, Arkansas and Memphis and Nashville, Tennessee terminals. Throughput
volumes at the Tyler, Texas terminal are for the period from July 27, 2013
through December31, 2013. Prior to July 27, 2013, the logistics segment did
not record revenue for throughput at the Tyler, Texas terminal. Throughputs
for the North Little Rock Terminal are for the 69 days Delek operated the
terminal following its acquisition in October 2013. Throughputs for the
Memphis and Nashville, Tennessee terminals for the year ended December 31,
2011 are for the 247 days Delek operated these terminals following their
acquisition in April 2011.




Contact:

Delek US Holdings, Inc.
Keith Johnson, 615-435-1366
Vice President of Investor Relations
or
Alpha IR Group
Chris Hodges, 312-445-2870
Founder & CEO
 
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