10-Q Filing

SOUTH DAKOTA SOYBEAN PROCESSORS LLC CIK: 1163609 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001144204-11-046946`
Period End Date	20110630
Filing Date	20110815
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	sdsp-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 72 Cash Flow Statement 48

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Allowance for uncollectible accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$72.00K	USD	Point-in-time
Allowance for uncollectible accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$35.00K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$31.79K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$73.09K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$69.79K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$91.60K	USD	Point-in-time
Trade accounts receivable, less allowance for uncollectible accounts of $72,000 and $35,000 at June 30, 2011 and December 31, 2010, respectively	`AccountsReceivableNetCurrent`	$23.35M	USD	Point-in-time
Trade accounts receivable, less allowance for uncollectible accounts of $72,000 and $35,000 at June 30, 2011 and December 31, 2010, respectively	`AccountsReceivableNetCurrent`	$21.61M	USD	Point-in-time
Inventories	`InventoryNet`	$22.43M	USD	Point-in-time
Inventories	`InventoryNet`	$42.62M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$1.87M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$2.33M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$514.88K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$353.43K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$48.08M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$67.17M	USD	Point-in-time
PROPERTY AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$60.86M	USD	Point-in-time
PROPERTY AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$62.89M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$35.44M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$34.40M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$27.45M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$26.46M	USD	Point-in-time
Total assets	`Assets`	$84.48M	USD	Point-in-time
Total assets	`Assets`	$102.55M	USD	Point-in-time
Notes receivable - members	`NotesReceivableRelatedPartiesNoncurrent`	$148.90K	USD	Point-in-time
Notes receivable - members	`NotesReceivableRelatedPartiesNoncurrent`	$148.90K	USD	Point-in-time
Patents and other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$850.02K	USD	Point-in-time
Patents and other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$844.06K	USD	Point-in-time
Investments in cooperatives	`InvestmentInCooperatives`	$7.95M	USD	Point-in-time
Investments in cooperatives	`InvestmentInCooperatives`	$7.92M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$8.95M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$8.92M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$1.73M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$1.94M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$1.84M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$233.42K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$607.08K	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.55M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.84M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$119.46K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$155.70K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$42.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$57.74M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$14.20M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$13.88M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$60.14K	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$57.17K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$14.26M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$13.94M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
Note payable - seasonal loan	`NotesPayableSeasonalLoanCurrent`	$19.62M	USD	Point-in-time
Note payable - seasonal loan	`NotesPayableSeasonalLoanCurrent`	$24.79M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$16.60M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$27.85M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$102.55M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$84.48M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
NET REVENUES	`SalesRevenueNet`	$134.26M	USD	2 Qtrs
NET REVENUES	`SalesRevenueNet`	$99.02M	USD	1 Quarter
NET REVENUES	`SalesRevenueNet`	$67.33M	USD	1 Quarter
NET REVENUES	`SalesRevenueNet`	$199.81M	USD	2 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$91.93M	USD	1 Quarter
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$117.93M	USD	2 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$185.39M	USD	2 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$59.81M	USD	1 Quarter
Production	`CostOfGoodsSoldDirectLabor`	$3.72M	USD	1 Quarter
Production	`CostOfGoodsSoldDirectLabor`	$4.05M	USD	1 Quarter
Production	`CostOfGoodsSoldDirectLabor`	$7.76M	USD	2 Qtrs
Production	`CostOfGoodsSoldDirectLabor`	$7.63M	USD	2 Qtrs
Freight and rail	`FreightCosts`	$8.16M	USD	2 Qtrs
Freight and rail	`FreightCosts`	$4.25M	USD	1 Quarter
Freight and rail	`FreightCosts`	$3.90M	USD	1 Quarter
Freight and rail	`FreightCosts`	$8.25M	USD	2 Qtrs
Total cost of revenues	`CostOfRevenue`	$134.05M	USD	2 Qtrs
Total cost of revenues	`CostOfRevenue`	$67.91M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$201.53M	USD	2 Qtrs
Total cost of revenues	`CostOfRevenue`	$100.01M	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$212.77K	USD	2 Qtrs
Brokerage fees	`BrokerageFees`	$130.65K	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$129.96K	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$229.01K	USD	2 Qtrs
GROSS PROFIT (LOSS)	`GrossProfit`	$-1.72M	USD	2 Qtrs
GROSS PROFIT (LOSS)	`GrossProfit`	$216.63K	USD	2 Qtrs
GROSS PROFIT (LOSS)	`GrossProfit`	$-580.21K	USD	1 Quarter
GROSS PROFIT (LOSS)	`GrossProfit`	$-992.36K	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$1.25M	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$1.83M	USD	2 Qtrs
Administration	`GeneralAndAdministrativeExpense`	$2.30M	USD	2 Qtrs
Administration	`GeneralAndAdministrativeExpense`	$868.75K	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-1.83M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-1.86M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-3.55M	USD	2 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-2.09M	USD	2 Qtrs
Interest expense	`InterestExpense`	$615.73K	USD	2 Qtrs
Interest expense	`InterestExpense`	$279.38K	USD	1 Quarter
Interest expense	`InterestExpense`	$817.50K	USD	2 Qtrs
Interest expense	`InterestExpense`	$284.85K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$1.16M	USD	2 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$676.34K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$611.72K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$1.20M	USD	2 Qtrs
Patronage dividend income	`InvestmentIncomeDividend`	$292.21K	USD	2 Qtrs
Patronage dividend income	`InvestmentIncomeDividend`	$211.28K	USD	2 Qtrs
Patronage dividend income	`InvestmentIncomeDividend`	-	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	-	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$637.03K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$391.49K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$332.33K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$799.08K	USD	2 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.44M	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.53M	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.91M	USD	2 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.29M	USD	2 Qtrs
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$300.00	USD	2 Qtrs
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$100.00	USD	2 Qtrs
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-1.53M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-1.29M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.91M	USD	2 Qtrs
BASIC AND DILUTED LOSS PER CAPITAL UNIT (in dollars per share)	`BasicAndDilutedLossPerCapitalUnit`	$-0.04	USD	2 Qtrs
BASIC AND DILUTED LOSS PER CAPITAL UNIT (in dollars per share)	`BasicAndDilutedLossPerCapitalUnit`	$-0.05	USD	1 Quarter
BASIC AND DILUTED LOSS PER CAPITAL UNIT (in dollars per share)	`BasicAndDilutedLossPerCapitalUnit`	$-0.05	USD	1 Quarter
BASIC AND DILUTED LOSS PER CAPITAL UNIT (in dollars per share)	`BasicAndDilutedLossPerCapitalUnit`	$-0.10	USD	2 Qtrs
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING FOR CALCULATION OF BASIC AND DILUTED LOSS PER CAPITAL UNIT (in shares)	`WeightedAverageNumberOfUnitsOutstandingForCalculationOfBasicAndDilutedLossPerCapitalUnit`	30.42M	shares	2 Qtrs
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING FOR CALCULATION OF BASIC AND DILUTED LOSS PER CAPITAL UNIT (in shares)	`WeightedAverageNumberOfUnitsOutstandingForCalculationOfBasicAndDilutedLossPerCapitalUnit`	30.42M	shares	2 Qtrs
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING FOR CALCULATION OF BASIC AND DILUTED LOSS PER CAPITAL UNIT (in shares)	`WeightedAverageNumberOfUnitsOutstandingForCalculationOfBasicAndDilutedLossPerCapitalUnit`	30.42M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING FOR CALCULATION OF BASIC AND DILUTED LOSS PER CAPITAL UNIT (in shares)	`WeightedAverageNumberOfUnitsOutstandingForCalculationOfBasicAndDilutedLossPerCapitalUnit`	30.42M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.53M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.29M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.91M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.09M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.15M	USD	2 Qtrs
Loss on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-15.63K	USD	2 Qtrs
Loss on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-11.32K	USD	2 Qtrs
Non-cash patronage dividends	`PaymentsOfDividends`	$102.27K	USD	2 Qtrs
Non-cash patronage dividends	`PaymentsOfDividends`	$73.95K	USD	2 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-8.78M	USD	2 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-6.96M	USD	2 Qtrs
NET CASH FROM OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$5.10M	USD	2 Qtrs
NET CASH FROM OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$8.53M	USD	2 Qtrs
Patent costs	`PaymentsToAcquireIntangibleAssets`	$45.19K	USD	2 Qtrs
Patent costs	`PaymentsToAcquireIntangibleAssets`	$80.66K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.58M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.10M	USD	2 Qtrs
NET CASH (USED FOR) INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-2.07M	USD	2 Qtrs
NET CASH (USED FOR) INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-1.66M	USD	2 Qtrs
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	-	USD	2 Qtrs
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	$76.58K	USD	2 Qtrs
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$169.58K	USD	2 Qtrs
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$202.42K	USD	2 Qtrs
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	-	USD	2 Qtrs
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	$13.20K	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$2.05M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$623.20K	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$134.75K	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$1.30M	USD	2 Qtrs
NET CASH FROM (USED FOR) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-6.91M	USD	2 Qtrs
NET CASH FROM (USED FOR) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-3.05M	USD	2 Qtrs
Net proceeds (payments) from seasonal borrowings	`ProceedsFromPaymentsOfSeasonalBorrwings`	$-6.39M	USD	2 Qtrs
Net proceeds (payments) from seasonal borrowings	`ProceedsFromPaymentsOfSeasonalBorrwings`	$-5.17M	USD	2 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-18.51K	USD	2 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-38.01K	USD	2 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$31.79K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$73.09K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$69.79K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$91.60K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$31.79K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$73.09K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$69.79K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$91.60K	USD	Point-in-time
Interest	`InterestPaid`	$617.66K	USD	2 Qtrs
Interest	`InterestPaid`	$853.74K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.