10-Q Filing

SOUTH DAKOTA SOYBEAN PROCESSORS LLC CIK: 1163609 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001163609-16-000048`
Period End Date	20160331
Filing Date	20160512
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	sdsp-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 36 Cash Flow Statement 48

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$74.81K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.74M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.39M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$388.00K	USD	Point-in-time
Trade accounts receivable, less allowance for uncollectible accounts of $356,966 and $495,000 at March 31, 2016 and December 31, 2015, respectively	`AccountsReceivableNetCurrent`	$21.91M	USD	Point-in-time
Trade accounts receivable, less allowance for uncollectible accounts of $356,966 and $495,000 at March 31, 2016 and December 31, 2015, respectively	`AccountsReceivableNetCurrent`	$20.13M	USD	Point-in-time
Inventories	`InventoryNet`	$30.60M	USD	Point-in-time
Inventories	`InventoryNet`	$26.32M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$3.60M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$7.47M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.39M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$56.10M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$75.76M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$83.74M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$83.08M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$42.95M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$42.16M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$40.92M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$40.79M	USD	Point-in-time
Other Long-term Investments	`OtherLongTermInvestments`	$6.23M	USD	Point-in-time
Other Long-term Investments	`OtherLongTermInvestments`	$6.23M	USD	Point-in-time
Notes, Loans and Financing Receivable, Gross, Noncurrent	`NotesAndLoansReceivableGrossNoncurrent`	$750.00K	USD	Point-in-time
Notes, Loans and Financing Receivable, Gross, Noncurrent	`NotesAndLoansReceivableGrossNoncurrent`	-	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$5.18K	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$6.31K	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$6.99M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$6.23M	USD	Point-in-time
Total assets	`Assets`	$103.88M	USD	Point-in-time
Total assets	`Assets`	$122.91M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$3.84M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$7.49M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$58.34K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$58.34K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.39M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.47M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$23.31M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$35.06M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.09M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.78M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$96.23K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$229.81K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$538.27K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$784.18K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$31.57M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$47.62M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$787.10K	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$9.09M	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, 2016 and December 31, 2015	`CapitalUnitsNetAmount`	$74.51M	USD	Point-in-time
Class A Units, no par value, 30,419,000 units issued and outstanding at March 31, 2016 and December 31, 2015	`CapitalUnitsNetAmount`	$63.22M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$103.88M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$122.91M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$99.01M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$84.70M	USD	1 Quarter
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$78.80M	USD	1 Quarter
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$66.84M	USD	1 Quarter
Production	`ProductionCost`	$5.27M	USD	1 Quarter
Production	`ProductionCost`	$5.62M	USD	1 Quarter
Freight and rail	`ShippingHandlingAndTransportationCosts`	$7.70M	USD	1 Quarter
Freight and rail	`ShippingHandlingAndTransportationCosts`	$8.76M	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$163.35K	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`	$81.39M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.11M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.31M	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$809.18K	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$721.97K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.50M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$6.39M	USD	1 Quarter
Interest expense	`InterestExpense`	$69.02K	USD	1 Quarter
Interest expense	`InterestExpense`	$157.46K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$395.35K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$455.86K	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	$815.80K	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	$860.85K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$1.05M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$1.25M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$7.44M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.75M	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-6.21K	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.76M	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.24	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.12	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`	$7.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.76M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$787.62K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$591.38K	USD	1 Quarter
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$130.00K	USD	1 Quarter
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Non-cash patronage dividends	`NoncashPatronageDividends`	-	USD	1 Quarter
Non-cash patronage dividends	`NoncashPatronageDividends`	$6.22K	USD	1 Quarter
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$11.36M	USD	1 Quarter
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$10.74M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.32M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.34M	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
Payments to Acquire Notes Receivable	`PaymentsToAcquireNotesReceivable`	-	USD	1 Quarter
Payments to Acquire Notes Receivable	`PaymentsToAcquireNotesReceivable`	$750.00K	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$130.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$654.93K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.07M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.27M	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`	$-3.65M	USD	1 Quarter
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$-1.64M	USD	1 Quarter
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$15.05M	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`	$26.28M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$17.98M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$14.81M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.39M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.81M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-18.00M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.67M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$74.81K	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`	$18.39M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$388.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$74.81K	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`	$18.39M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$388.00K	USD	Point-in-time
Interest	`InterestPaid`	$202.59K	USD	1 Quarter
Interest	`InterestPaid`	$218.28K	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.