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Leases | 3 Months Ended
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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.

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- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-30/tableOfContent + Details
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