10-Q Filing

SOUTH DAKOTA SOYBEAN PROCESSORS LLC CIK: 1163609 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001163609-15-000015`
Period End Date	20150331
Filing Date	20150513
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	sdsp-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 32 Cash Flow Statement 48

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.14K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.74M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$74.81K	USD	Point-in-time
Trade accounts receivable, less allowance for uncollectible accounts of $16,404 and $0 at March 31, 2015 and December 31, 2014, respectively	`AccountsReceivableNetCurrent`	$23.11M	USD	Point-in-time
Trade accounts receivable, less allowance for uncollectible accounts of $16,404 and $0 at March 31, 2015 and December 31, 2014, respectively	`AccountsReceivableNetCurrent`	$19.97M	USD	Point-in-time
Inventories	`InventoryNet`	$28.12M	USD	Point-in-time
Inventories	`InventoryNet`	$33.69M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$2.46M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$2.55M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.46M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.28M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$71.55M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$51.91M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$79.65M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$78.58M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$39.83M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$40.42M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$39.23M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$38.75M	USD	Point-in-time
Other Long-term Investments	`OtherLongTermInvestments`	$6.30M	USD	Point-in-time
Other Long-term Investments	`OtherLongTermInvestments`	$6.84M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$4.35K	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$9.71K	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$6.31M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$6.84M	USD	Point-in-time
Total assets	`Assets`	$97.45M	USD	Point-in-time
Total assets	`Assets`	$117.14M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$2.91M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$4.55M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$57.25K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$57.25K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.14M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.32M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$39.75M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$19.45M	USD	Point-in-time
Margin deposit deficit	`Deposits`	$-2.46M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.05M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.64M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$299.08K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$359.90K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$819.24K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$961.97K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$49.64M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$10.73M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$844.48K	USD	Point-in-time
Deferred liabilities, less current maturities	`DeferredRevenueAndCreditsNoncurrent`	$51.78K	USD	Point-in-time
Deferred liabilities, less current maturities	`DeferredRevenueAndCreditsNoncurrent`	$9.69K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$896.26K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$10.74M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A Units, no par value, 30,419,000 units issued and outstanding at March 31, 2015 and December 31, 2014	`CapitalUnitsNetAmount`	$66.60M	USD	Point-in-time
Class A Units, no par value, 30,419,000 units issued and outstanding at March 31, 2015 and December 31, 2014	`CapitalUnitsNetAmount`	$59.00M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$117.14M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$97.45M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$101.27M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$99.01M	USD	1 Quarter
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$86.33M	USD	1 Quarter
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$78.80M	USD	1 Quarter
Production	`ProductionCost`	$5.27M	USD	1 Quarter
Production	`ProductionCost`	$5.29M	USD	1 Quarter
Freight and rail	`ShippingHandlingAndTransportationCosts`	$6.70M	USD	1 Quarter
Freight and rail	`ShippingHandlingAndTransportationCosts`	$7.70M	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$138.47K	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$125.95K	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$91.90M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$98.46M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.11M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.81M	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$2.16M	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$721.97K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$654.89K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$6.39M	USD	1 Quarter
Interest expense	`InterestExpense`	$157.46K	USD	1 Quarter
Interest expense	`InterestExpense`	$303.70K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$395.35K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$516.17K	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	$1.52M	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	$815.80K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$1.73M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$1.05M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.39M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.44M	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.08	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.24	USD	1 Quarter
Weighted average number of capital units outstanding for calculation of basic and diluted earnings per capital unit (in shares)	`WeightedAverageNumberOfUnitsOutstandingForCalculationOfBasicAndDilutedLossPerCapitalUnit`	30.42M	shares	1 Quarter
Weighted average number of capital units outstanding for calculation of basic and diluted earnings per capital unit (in shares)	`WeightedAverageNumberOfUnitsOutstandingForCalculationOfBasicAndDilutedLossPerCapitalUnit`	30.42M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.39M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.44M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$591.38K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$543.60K	USD	1 Quarter
Non-cash patronage dividends	`NoncashPatronageDividends`	-	USD	1 Quarter
Non-cash patronage dividends	`NoncashPatronageDividends`	$896.80K	USD	1 Quarter
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$11.36M	USD	1 Quarter
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$16.12M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.32M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-14.09M	USD	1 Quarter
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	$124.82K	USD	1 Quarter
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	-	USD	1 Quarter
Proceeds from Sale and Maturity of Other Investments	`ProceedsFromSaleAndMaturityOfOtherInvestments`	-	USD	1 Quarter
Proceeds from Sale and Maturity of Other Investments	`ProceedsFromSaleAndMaturityOfOtherInvestments`	$536.45K	USD	1 Quarter
Decrease in member loans	`IncreaseDecreaseInMemberLoans`	$-145.71K	USD	1 Quarter
Decrease in member loans	`IncreaseDecreaseInMemberLoans`	-	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.07M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$456.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-185.47K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-534.41K	USD	1 Quarter
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$-1.64M	USD	1 Quarter
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$-10.06M	USD	1 Quarter
Net proceeds (payments) from seasonal borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	-	USD	1 Quarter
Net proceeds (payments) from seasonal borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$28.20M	USD	1 Quarter
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$11.00M	USD	1 Quarter
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$15.05M	USD	1 Quarter
Payments of Debt Issuance Costs	`PaymentsOfDebtIssuanceCosts`	$-6.50K	USD	1 Quarter
Payments of Debt Issuance Costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$24.69M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$14.73M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$7.55M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$14.81M	USD	1 Quarter
Net cash from (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.81M	USD	1 Quarter
Net cash from (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.32M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.67M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$49.09K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$49.14K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.74M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$50.00	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$74.81K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$49.14K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.74M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$50.00	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$74.81K	USD	Point-in-time
Interest	`InterestPaid`	$218.28K	USD	1 Quarter
Interest	`InterestPaid`	$283.15K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter

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