10-Q Filing

SOUTH DAKOTA SOYBEAN PROCESSORS LLC CIK: 1163609 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001163609-15-000027`
Period End Date	20150630
Filing Date	20150814
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	sdsp-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 72 Cash Flow Statement 54

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.00	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`	$4.22M	USD	Point-in-time
Trade accounts receivable, less allowance for uncollectible accounts of $360,000 and $0 at June 30, 2015 and December 31, 2014, respectively	`AccountsReceivableNetCurrent`	$23.11M	USD	Point-in-time
Trade accounts receivable, less allowance for uncollectible accounts of $360,000 and $0 at June 30, 2015 and December 31, 2014, respectively	`AccountsReceivableNetCurrent`	$20.45M	USD	Point-in-time
Inventories	`InventoryNet`	$17.09M	USD	Point-in-time
Inventories	`InventoryNet`	$33.69M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$2.55M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$4.67M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.22M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.46M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$47.64M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$71.55M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$81.48M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$78.58M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$41.02M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$39.83M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$40.46M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$38.75M	USD	Point-in-time
Other Long-term Investments	`OtherLongTermInvestments`	$6.84M	USD	Point-in-time
Other Long-term Investments	`OtherLongTermInvestments`	$6.30M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$4.35K	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$8.58K	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$6.84M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$6.31M	USD	Point-in-time
Total assets	`Assets`	$117.14M	USD	Point-in-time
Total assets	`Assets`	$94.41M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$7.52M	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`	$58.34K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.97M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$39.75M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$20.69M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.64M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.92M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$331.55K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$359.90K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$961.97K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$581.89K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$49.64M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$844.48K	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$787.10K	USD	Point-in-time
Deferred liabilities, less current maturities	`DeferredRevenueAndCreditsNoncurrent`	$51.78K	USD	Point-in-time
Deferred liabilities, less current maturities	`DeferredRevenueAndCreditsNoncurrent`	$10.11K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$896.26K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$797.20K	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 June 30, 2015 and December 31, 2014	`CapitalUnitsNetAmount`	$60.54M	USD	Point-in-time
Class A Units, no par value, 30,419,000 units issued and outstanding at June 30, 2015 and December 31, 2014	`CapitalUnitsNetAmount`	$66.60M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$117.14M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$94.41M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$90.37M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$215.10M	USD	2 Qtrs
Net revenues	`SalesRevenueNet`	$189.37M	USD	2 Qtrs
Net revenues	`SalesRevenueNet`	$113.83M	USD	1 Quarter
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$74.85M	USD	1 Quarter
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$153.65M	USD	2 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$184.70M	USD	2 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$98.37M	USD	1 Quarter
Production	`ProductionCost`	$10.56M	USD	2 Qtrs
Production	`ProductionCost`	$10.45M	USD	2 Qtrs
Production	`ProductionCost`	$5.27M	USD	1 Quarter
Production	`ProductionCost`	$5.18M	USD	1 Quarter
Freight and rail	`ShippingHandlingAndTransportationCosts`	$7.75M	USD	1 Quarter
Freight and rail	`ShippingHandlingAndTransportationCosts`	$15.44M	USD	2 Qtrs
Freight and rail	`ShippingHandlingAndTransportationCosts`	$6.40M	USD	1 Quarter
Freight and rail	`ShippingHandlingAndTransportationCosts`	$13.10M	USD	2 Qtrs
Brokerage fees	`BrokerageFees`	$292.66K	USD	2 Qtrs
Brokerage fees	`BrokerageFees`	$299.58K	USD	2 Qtrs
Brokerage fees	`BrokerageFees`	$166.70K	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$161.11K	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$110.19M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$208.65M	USD	2 Qtrs
Total cost of revenues	`CostOfRevenue`	$179.83M	USD	2 Qtrs
Total cost of revenues	`CostOfRevenue`	$87.94M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.43M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.63M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.54M	USD	2 Qtrs
Gross profit	`GrossProfit`	$6.44M	USD	2 Qtrs
Administration	`GeneralAndAdministrativeExpense`	$1.80M	USD	2 Qtrs
Administration	`GeneralAndAdministrativeExpense`	$1.08M	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$626.99K	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$2.78M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$1.35M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.01M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$7.74M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$3.66M	USD	2 Qtrs
Interest expense	`InterestExpense`	$607.68K	USD	2 Qtrs
Interest expense	`InterestExpense`	$287.87K	USD	2 Qtrs
Interest expense	`InterestExpense`	$303.98K	USD	1 Quarter
Interest expense	`InterestExpense`	$130.41K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$324.93K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$720.28K	USD	2 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$504.19K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$1.02M	USD	2 Qtrs
Patronage dividend income	`InvestmentIncomeDividend`	$1.52M	USD	2 Qtrs
Patronage dividend income	`InvestmentIncomeDividend`	-	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	-	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	$815.80K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$200.21K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$1.93M	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$1.25M	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$194.52K	USD	1 Quarter
Income from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.98M	USD	2 Qtrs
Income from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.59M	USD	2 Qtrs
Income from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.21M	USD	1 Quarter
Income from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.54M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.87K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$570.00	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$570.00	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.87K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.59M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.54M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.98M	USD	2 Qtrs
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.18	USD	2 Qtrs
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.30	USD	2 Qtrs
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.11	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.05	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	2 Qtrs
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	2 Qtrs
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 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.59M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.54M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.98M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.07M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.19M	USD	2 Qtrs
Non-cash patronage dividends	`NoncashPatronageDividends`	-	USD	2 Qtrs
Non-cash patronage dividends	`NoncashPatronageDividends`	$896.80K	USD	2 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-5.56M	USD	2 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$2.20M	USD	2 Qtrs
Net cash from operating activities of continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$7.98M	USD	2 Qtrs
Net cash from operating activities of continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$11.32M	USD	2 Qtrs
Net cash from operating activities of discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$300.00	USD	2 Qtrs
Net cash from operating activities of discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	2 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.98M	USD	2 Qtrs
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.32M	USD	2 Qtrs
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	-	USD	2 Qtrs
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	$124.82K	USD	2 Qtrs
Proceeds from Sale and Maturity of Other Investments	`ProceedsFromSaleAndMaturityOfOtherInvestments`	-	USD	2 Qtrs
Proceeds from Sale and Maturity of Other Investments	`ProceedsFromSaleAndMaturityOfOtherInvestments`	$536.45K	USD	2 Qtrs
Decrease in member loans	`IncreaseDecreaseInMemberLoans`	$-145.71K	USD	2 Qtrs
Decrease in member loans	`IncreaseDecreaseInMemberLoans`	-	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.82M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.90M	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.36M	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.55M	USD	2 Qtrs
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$-9.30M	USD	2 Qtrs
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$2.97M	USD	2 Qtrs
Net proceeds (payments) from seasonal borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	-	USD	2 Qtrs
Net proceeds (payments) from seasonal borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$3.42M	USD	2 Qtrs
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$15.05M	USD	2 Qtrs
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$11.00M	USD	2 Qtrs
Payments of Debt Issuance Costs	`PaymentsOfDebtIssuanceCosts`	$6.50K	USD	2 Qtrs
Payments of Debt Issuance Costs	`PaymentsOfDebtIssuanceCosts`	-	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$43.99M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$14.73M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$44.04M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$7.61M	USD	2 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.77M	USD	2 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.14M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.53M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$50.00	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`	$4.22M	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`	$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`	$4.22M	USD	Point-in-time
Interest	`InterestPaid`	$316.22K	USD	2 Qtrs
Interest	`InterestPaid`	$563.94K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$10.73K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$400.00	USD	2 Qtrs

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