Delek US provides the following reconciliation schedule in calculating “adjusted” net income from operations, a non-GAAP measure.

The following item(s) are excluded in the calculation of adjusted net income from operations for the three months ended June 30, 2012 and June 30, 2011.
       
Three Months Ended June 30, 2012
Pre-Tax After-Tax After Tax EPS
$ in Millions (Except EPS) Income   Income   Diluted
 
Unadjusted
Net income $ 104.4 $ 67.8 $ 1.15
Adjustments
Loss:
Transaction costs for potential IPO 1.8 1.2 0.02
         
Adjusted Total $ 106.2     $ 69.0     $ 1.17  
 
Three Months Ended June 30, 2011
Pre-Tax After-Tax After Tax EPS
$ in Millions (Except EPS) Income   Income   Diluted
 
Unadjusted
Net income $ 93.5 $ 62.1 $ 1.08
Adjustments
Income:
Gain on investment in Lion Oil (Other) (9.2 )   (9.2 )   (0.16 )
Adjusted Total $ 84.3     $ 52.9     $ 0.92  
 

Second Quarter 2012 Results | Conference Call Information

The Company will hold a conference call to discuss its second quarter 2012 results on August 8, 2012 at 10:00 a.m. Central Time. Investors will have the opportunity to listen to the conference call live over the Internet by going to www.DelekUS.com and clicking on the Investor Relations tab, at least 15 minutes early to register, download and install any necessary software. For those who cannot listen to the live broadcast, a telephonic replay will be available through November 8, 2012 by dialing (855) 859-2056, passcode 97669346. An archived version of the replay will also be available at www.DelekUS.com for 90 days.

About Delek US Holdings, Inc.

Delek US Holdings, Inc. is an integrated downstream energy business focused on petroleum refining, the wholesale distribution of refined products 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. The marketing and supply segment markets refined products through a series of owned and third-party product terminals and pipelines. The retail segment supplies fuels and merchandise through a network of approximately 374 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.

If you liked this article you might like

Hurricane Harvey Shuts Pipeline, Ups Gasoline Prices and Prompts Reserve Release

Hurricane Harvey Catastrophe to Send Profit Margins on Gas Higher - Goldman

Hurricane Harvey May Be a Good Reason to Buy Midwest, East Coast Refiners

These Stocks Are Ready to Reverse Course

Changes in Renewable Fuel Regulations in 2017 Could Impact Your Energy Investments