10-Q Filing

SOUTH DAKOTA SOYBEAN PROCESSORS LLC CIK: 1163609 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001144204-11-066085`
Period End Date	20110930
Filing Date	20111121
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	sdsp-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 72 Cash Flow Statement 48

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Allowance for uncollectible accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$35.00K	USD	Point-in-time
Allowance for uncollectible accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$63.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$132.47K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$69.79K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$91.60K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.53K	USD	Point-in-time
Trade accounts receivable, less allowance for uncollectible accounts of $63,000 and $35,000 at September 30, 2011 and December 31, 2010, respectively	`AccountsReceivableNetCurrent`	$21.61M	USD	Point-in-time
Trade accounts receivable, less allowance for uncollectible accounts of $63,000 and $35,000 at September 30, 2011 and December 31, 2010, respectively	`AccountsReceivableNetCurrent`	$22.67M	USD	Point-in-time
Inventories	`InventoryNet`	$21.25M	USD	Point-in-time
Inventories	`InventoryNet`	$42.62M	USD	Point-in-time
Trading securities	`TradingSecuritiesCurrent`	-	USD	Point-in-time
Trading securities	`TradingSecuritiesCurrent`	$77.60K	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$2.33M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$3.40M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$245.81K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$514.88K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$47.78M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$67.17M	USD	Point-in-time
PROPERTY AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$63.23M	USD	Point-in-time
PROPERTY AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$60.86M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$34.40M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$36.05M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$27.18M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$26.46M	USD	Point-in-time
Investments in cooperatives	`InvestmentInCooperatives`	$7.92M	USD	Point-in-time
Investments in cooperatives	`InvestmentInCooperatives`	$7.87M	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`	$844.06K	USD	Point-in-time
Patents and other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$833.04K	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$8.85M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$8.92M	USD	Point-in-time
Total assets	`Assets`	$102.55M	USD	Point-in-time
Total assets	`Assets`	$83.81M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$8.79M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$1.73M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$233.42K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$611.20K	USD	Point-in-time
Note payable - seasonal loan	`NotesPayableSeasonalLoanCurrent`	$9.79M	USD	Point-in-time
Note payable - seasonal loan	`NotesPayableSeasonalLoanCurrent`	$24.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$585.20K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.13M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$27.85M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$20.17M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.78M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.84M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$104.96K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$155.70K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$41.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$57.74M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$13.88M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$14.20M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$61.29K	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$57.17K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$13.94M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$14.26M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$83.81M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$102.55M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
NET REVENUES	`SalesRevenueNet`	$70.43M	USD	1 Quarter
NET REVENUES	`SalesRevenueNet`	$95.92M	USD	1 Quarter
NET REVENUES	`SalesRevenueNet`	$295.73M	USD	3 Qtrs
NET REVENUES	`SalesRevenueNet`	$204.70M	USD	3 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$180.26M	USD	3 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$62.33M	USD	1 Quarter
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$272.26M	USD	3 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$86.87M	USD	1 Quarter
Production	`CostOfGoodsSoldDirectLabor`	$11.56M	USD	3 Qtrs
Production	`CostOfGoodsSoldDirectLabor`	$11.17M	USD	3 Qtrs
Production	`CostOfGoodsSoldDirectLabor`	$3.54M	USD	1 Quarter
Production	`CostOfGoodsSoldDirectLabor`	$3.80M	USD	1 Quarter
Freight and rail	`FreightCosts`	$12.27M	USD	3 Qtrs
Freight and rail	`FreightCosts`	$13.06M	USD	3 Qtrs
Freight and rail	`FreightCosts`	$4.90M	USD	1 Quarter
Freight and rail	`FreightCosts`	$4.02M	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$175.23K	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$388.00K	USD	3 Qtrs
Brokerage fees	`BrokerageFees`	$345.06K	USD	3 Qtrs
Brokerage fees	`BrokerageFees`	$116.04K	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$70.00M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$297.28M	USD	3 Qtrs
Total cost of revenues	`CostOfRevenue`	$204.04M	USD	3 Qtrs
Total cost of revenues	`CostOfRevenue`	$95.74M	USD	1 Quarter
GROSS PROFIT (LOSS)	`GrossProfit`	$-1.55M	USD	3 Qtrs
GROSS PROFIT (LOSS)	`GrossProfit`	$437.00K	USD	1 Quarter
GROSS PROFIT (LOSS)	`GrossProfit`	$173.16K	USD	1 Quarter
GROSS PROFIT (LOSS)	`GrossProfit`	$653.63K	USD	3 Qtrs
Administration	`GeneralAndAdministrativeExpense`	$605.18K	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$3.39M	USD	3 Qtrs
Administration	`GeneralAndAdministrativeExpense`	$1.08M	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$2.43M	USD	3 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-432.02K	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-2.73M	USD	3 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-647.06K	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-3.98M	USD	3 Qtrs
Interest expense	`InterestExpense`	$1.28M	USD	3 Qtrs
Interest expense	`InterestExpense`	$326.57K	USD	1 Quarter
Interest expense	`InterestExpense`	$465.26K	USD	1 Quarter
Interest expense	`InterestExpense`	$942.29K	USD	3 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$678.06K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$1.82M	USD	3 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$655.50K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$1.88M	USD	3 Qtrs
Patronage dividend income	`InvestmentIncomeDividend`	$292.21K	USD	3 Qtrs
Patronage dividend income	`InvestmentIncomeDividend`	-	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	-	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	$211.28K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$351.49K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$827.26K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$190.23K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$1.15M	USD	3 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.58M	USD	3 Qtrs
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-295.57K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-241.79K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.15M	USD	3 Qtrs
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$300.00	USD	3 Qtrs
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$100.00	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-295.57K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-241.79K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-1.58M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-3.15M	USD	3 Qtrs
BASIC AND DILUTED LOSS PER CAPITAL UNIT (in dollars per share)	`BasicAndDilutedLossPerCapitalUnit`	$-0.01	USD	1 Quarter
BASIC AND DILUTED LOSS PER CAPITAL UNIT (in dollars per share)	`BasicAndDilutedLossPerCapitalUnit`	$-0.01	USD	1 Quarter
BASIC AND DILUTED LOSS PER CAPITAL UNIT (in dollars per share)	`BasicAndDilutedLossPerCapitalUnit`	$-0.05	USD	3 Qtrs
BASIC AND DILUTED LOSS PER CAPITAL UNIT (in dollars per share)	`BasicAndDilutedLossPerCapitalUnit`	$-0.10	USD	3 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
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING FOR CALCULATION OF BASIC AND DILUTED LOSS PER CAPITAL UNIT (in shares)	`WeightedAverageNumberOfUnitsOutstandingForCalculationOfBasicAndDilutedLossPerCapitalUnit`	30.42M	shares	3 Qtrs
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING FOR CALCULATION OF BASIC AND DILUTED LOSS PER CAPITAL UNIT (in shares)	`WeightedAverageNumberOfUnitsOutstandingForCalculationOfBasicAndDilutedLossPerCapitalUnit`	30.42M	shares	3 Qtrs

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-295.57K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-241.79K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.58M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.15M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.78M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.63M	USD	3 Qtrs
Loss on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-17.56K	USD	3 Qtrs
Loss on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-11.32K	USD	3 Qtrs
Non-cash patronage dividends	`PaymentsOfDividends`	$102.27K	USD	3 Qtrs
Non-cash patronage dividends	`PaymentsOfDividends`	$73.95K	USD	3 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-12.74M	USD	3 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-11.18M	USD	3 Qtrs
NET CASH FROM OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$9.71M	USD	3 Qtrs
NET CASH FROM OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$12.73M	USD	3 Qtrs
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	-	USD	3 Qtrs
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	$76.58K	USD	3 Qtrs
Patent costs	`PaymentsToAcquireIntangibleAssets`	$48.29K	USD	3 Qtrs
Patent costs	`PaymentsToAcquireIntangibleAssets`	$111.63K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.24M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.45M	USD	3 Qtrs
NET CASH USED FOR INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-2.42M	USD	3 Qtrs
NET CASH USED FOR INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-3.35M	USD	3 Qtrs
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$-2.67M	USD	3 Qtrs
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$7.05M	USD	3 Qtrs
Net proceeds (payments) from seasonal borrowings	`ProceedsFromPaymentsOfSeasonalBorrwings`	$-15.00M	USD	3 Qtrs
Net proceeds (payments) from seasonal borrowings	`ProceedsFromPaymentsOfSeasonalBorrwings`	$-7.42M	USD	3 Qtrs
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	$13.20K	USD	3 Qtrs
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	-	USD	3 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$1.96M	USD	3 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$2.23M	USD	3 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$1.30M	USD	3 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$1.54M	USD	3 Qtrs
NET CASH USED FOR FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-9.45M	USD	3 Qtrs
NET CASH USED FOR FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-7.25M	USD	3 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-67.26K	USD	3 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$40.88K	USD	3 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$132.47K	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, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$2.53K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$132.47K	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
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$2.53K	USD	Point-in-time
Interest	`InterestPaid`	$931.17K	USD	3 Qtrs
Interest	`InterestPaid`	$1.33M	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs

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