10-Q Filing

SOUTH DAKOTA SOYBEAN PROCESSORS LLC CIK: 1163609 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001163609-15-000031`
Period End Date	20150930
Filing Date	20151112
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	sdsp-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 72 Cash Flow Statement 60

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`	$11.51M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.10M	USD	Point-in-time
Trade accounts receivable, less allowance for uncollectible accounts of $360,000 and $0 at September 30, 2015 and December 31, 2014, respectively	`AccountsReceivableNetCurrent`	$18.97M	USD	Point-in-time
Trade accounts receivable, less allowance for uncollectible accounts of $360,000 and $0 at September 30, 2015 and December 31, 2014, respectively	`AccountsReceivableNetCurrent`	$23.11M	USD	Point-in-time
Inventories	`InventoryNet`	$25.60M	USD	Point-in-time
Inventories	`InventoryNet`	$33.69M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$6.18M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$2.55M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$957.68K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.46M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$71.55M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$60.81M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$78.58M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$82.77M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$39.83M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$41.75M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$38.75M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$41.02M	USD	Point-in-time
Other Long-term Investments	`OtherLongTermInvestments`	$6.84M	USD	Point-in-time
Other Long-term Investments	`OtherLongTermInvestments`	$6.23M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$7.45K	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$4.35K	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$6.84M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$6.23M	USD	Point-in-time
Total assets	`Assets`	$108.07M	USD	Point-in-time
Total assets	`Assets`	$117.14M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$4.55M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$3.47M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$58.34K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$57.25K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.10M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$33.88M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$39.75M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.38M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.64M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$411.54K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$359.90K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$155.70K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$961.97K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$49.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$41.47M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$787.10K	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$844.48K	USD	Point-in-time
Deferred liabilities, less current maturities	`DeferredRevenueAndCreditsNoncurrent`	$10.53K	USD	Point-in-time
Deferred liabilities, less current maturities	`DeferredRevenueAndCreditsNoncurrent`	$51.78K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$797.62K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$896.26K	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 September 30, 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 September 30, 2015 and December 31, 2014	`CapitalUnitsNetAmount`	$65.80M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$108.07M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$117.14M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$91.35M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$333.59M	USD	3 Qtrs
Net revenues	`SalesRevenueNet`	$118.49M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$280.73M	USD	3 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$71.61M	USD	1 Quarter
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$225.26M	USD	3 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$100.68M	USD	1 Quarter
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$285.37M	USD	3 Qtrs
Production	`ProductionCost`	$4.88M	USD	1 Quarter
Production	`ProductionCost`	$6.12M	USD	1 Quarter
Production	`ProductionCost`	$15.43M	USD	3 Qtrs
Production	`ProductionCost`	$16.57M	USD	3 Qtrs
Freight and rail	`ShippingHandlingAndTransportationCosts`	$23.04M	USD	3 Qtrs
Freight and rail	`ShippingHandlingAndTransportationCosts`	$7.81M	USD	1 Quarter
Freight and rail	`ShippingHandlingAndTransportationCosts`	$20.91M	USD	3 Qtrs
Freight and rail	`ShippingHandlingAndTransportationCosts`	$7.60M	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$185.38K	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$478.11K	USD	3 Qtrs
Brokerage fees	`BrokerageFees`	$484.95K	USD	3 Qtrs
Brokerage fees	`BrokerageFees`	$185.45K	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$85.52M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$113.54M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$265.35M	USD	3 Qtrs
Total cost of revenues	`CostOfRevenue`	$322.20M	USD	3 Qtrs
Gross profit	`GrossProfit`	$4.95M	USD	1 Quarter
Gross profit	`GrossProfit`	$15.37M	USD	3 Qtrs
Gross profit	`GrossProfit`	$11.39M	USD	3 Qtrs
Gross profit	`GrossProfit`	$5.83M	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$672.13K	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$752.75K	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$2.56M	USD	3 Qtrs
Administration	`GeneralAndAdministrativeExpense`	$3.46M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$7.93M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$4.27M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$12.82M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$5.08M	USD	1 Quarter
Interest expense	`InterestExpense`	$240.50K	USD	1 Quarter
Interest expense	`InterestExpense`	$848.18K	USD	3 Qtrs
Interest expense	`InterestExpense`	$114.68K	USD	1 Quarter
Interest expense	`InterestExpense`	$402.55K	USD	3 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$419.71K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$1.44M	USD	3 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$1.02M	USD	3 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$295.02K	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	$815.80K	USD	3 Qtrs
Patronage dividend income	`InvestmentIncomeDividend`	$1.52M	USD	3 Qtrs
Patronage dividend income	`InvestmentIncomeDividend`	-	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	-	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$2.11M	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$1.43M	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$179.21K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$180.34K	USD	1 Quarter
Income from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.26M	USD	1 Quarter
Income from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.04M	USD	3 Qtrs
Income from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$14.25M	USD	3 Qtrs
Income from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.45M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.87K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$570.00	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.45M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.25M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$10.04M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$5.26M	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.17	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.15	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.33	USD	3 Qtrs
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.47	USD	3 Qtrs
Weighted average number of capital units outstanding for calculation of basic and diluted earnings per capital unit (in shares)	`WeightedAverageNumberOfUnitsOutstandingForCalculationOfBasicAndDilutedLossPerCapitalUnit`	30.42M	shares	3 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	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	3 Qtrs

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.45M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.25M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$10.04M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$5.26M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.97M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.60M	USD	3 Qtrs
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$6.85K	USD	3 Qtrs
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-30.07K	USD	3 Qtrs
Non-cash patronage dividends	`NoncashPatronageDividends`	-	USD	3 Qtrs
Non-cash patronage dividends	`NoncashPatronageDividends`	$896.80K	USD	3 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-1.96M	USD	3 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-25.85M	USD	3 Qtrs
Net cash from operating activities of continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$36.63M	USD	3 Qtrs
Net cash from operating activities of continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$18.17M	USD	3 Qtrs
Net cash from operating activities of discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	3 Qtrs
Net cash from operating activities of discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$500.00	USD	3 Qtrs
Net cash from for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$36.63M	USD	3 Qtrs
Net cash from for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.17M	USD	3 Qtrs
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	$124.82K	USD	3 Qtrs
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	-	USD	3 Qtrs
Proceeds from Sale and Maturity of Other Investments	`ProceedsFromSaleAndMaturityOfOtherInvestments`	-	USD	3 Qtrs
Proceeds from Sale and Maturity of Other Investments	`ProceedsFromSaleAndMaturityOfOtherInvestments`	$611.45K	USD	3 Qtrs
Decrease in member loans	`IncreaseDecreaseInMemberLoans`	-	USD	3 Qtrs
Decrease in member loans	`IncreaseDecreaseInMemberLoans`	$-145.71K	USD	3 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$14.60K	USD	3 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$52.50K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.14M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.24M	USD	3 Qtrs
Net cash used for investing activities of continuing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.82M	USD	3 Qtrs
Net cash used for investing activities of continuing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-3.62M	USD	3 Qtrs
Net cash from investing activities of discontinued activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$3.50K	USD	3 Qtrs
Net cash from investing activities of discontinued activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	-	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.62M	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.82M	USD	3 Qtrs
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$-8.11M	USD	3 Qtrs
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$-1.08M	USD	3 Qtrs
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$11.00M	USD	3 Qtrs
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$15.05M	USD	3 Qtrs
Payments of Debt Issuance Costs	`PaymentsOfDebtIssuanceCosts`	$6.50K	USD	3 Qtrs
Payments of Debt Issuance Costs	`PaymentsOfDebtIssuanceCosts`	-	USD	3 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$68.15M	USD	3 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$20.10M	USD	3 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$68.21M	USD	3 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$23.29M	USD	3 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-22.30M	USD	3 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-16.19M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.64M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.51M	USD	3 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`	$11.51M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.10M	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`	$11.51M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.10M	USD	Point-in-time
Interest	`InterestPaid`	$350.91K	USD	3 Qtrs
Interest	`InterestPaid`	$719.68K	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	$10.73K	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	$600.00	USD	3 Qtrs

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