Consolidated net income for 2025 was $43.3 million, a substantial improvement from a net loss of $520.9 million in 2024. Net loss attributable to Delek was $22.8 million, or $(0.38) per basic share, compared to a loss of $560.4 million, or $(8.77) per basic share, in 2024. Net revenues decreased by 9.5% to $10,722.9 million in 2025 from $11,852.2 million in 2024, primarily due to lower average prices for U.S. Gulf Coast gasoline (down 10.3%) and ULSD (down 6.4%). Cost of materials and other decreased by 17.7% to $8,873.6 million, mainly due to lower crude oil feedstock costs (WTI Cushing down 14.5%, WTI Midland down 14.7%) and a $356.1 million reduction from small refinery exemptions (SREs). Refining segment EBITDA increased by 606.8% to $800.7 million in 2025 from a loss of $(158.0) million in 2024, driven by higher crack spreads and SREs. Logistics segment EBITDA increased by 7.8% to $369.3 million, boosted by the Gravity and H2O Midstream acquisitions. Total debt was $3,283.3 million as of December 31, 2025, with $1,620.8 million in unused credit commitments. Returned $141.4 million of capital to shareholders in 2025 through dividends and share buybacks, with $464.2 million remaining authorization for repurchases.