10-Q Filing

SOUTH DAKOTA SOYBEAN PROCESSORS LLC CIK: 1163609 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001163609-16-000053`
Period End Date	20160630
Filing Date	20160805
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	sdsp-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 72 Cash Flow Statement 50

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.39M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$653.19K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.74M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.22M	USD	Point-in-time
Trade accounts receivable, less allowance for uncollectible accounts of $0 and $495,000 at June 30, 2016 and December 31, 2015, respectively	`AccountsReceivableNetCurrent`	$21.91M	USD	Point-in-time
Trade accounts receivable, less allowance for uncollectible accounts of $0 and $495,000 at June 30, 2016 and December 31, 2015, respectively	`AccountsReceivableNetCurrent`	$23.85M	USD	Point-in-time
Inventories	`InventoryNet`	$19.37M	USD	Point-in-time
Inventories	`InventoryNet`	$26.32M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$7.47M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$7.20M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.06M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$75.76M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$52.13M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$84.97M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$83.08M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$43.72M	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`	$41.25M	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`	-	USD	Point-in-time
Notes, Loans and Financing Receivable, Gross, Noncurrent	`NotesAndLoansReceivableGrossNoncurrent`	$850.00K	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$4.05K	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$6.31K	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$6.23M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$7.09M	USD	Point-in-time
Total assets	`Assets`	$100.47M	USD	Point-in-time
Total assets	`Assets`	$122.91M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$7.49M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$4.01M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$59.56K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$58.34K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.47M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.35M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$21.35M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$35.06M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.78M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.03M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$229.81K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$130.75K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$538.27K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$282.66K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$47.62M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$29.22M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$787.10K	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$5.60M	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`	$65.65M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$100.47M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$122.91M	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`	$97.30M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$182.00M	USD	2 Qtrs
Net revenues	`SalesRevenueNet`	$189.37M	USD	2 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$153.65M	USD	2 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$146.39M	USD	2 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$74.85M	USD	1 Quarter
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$79.56M	USD	1 Quarter
Production	`ProductionCost`	$5.50M	USD	1 Quarter
Production	`ProductionCost`	$10.45M	USD	2 Qtrs
Production	`ProductionCost`	$5.18M	USD	1 Quarter
Production	`ProductionCost`	$11.13M	USD	2 Qtrs
Freight and rail	`ShippingHandlingAndTransportationCosts`	$17.49M	USD	2 Qtrs
Freight and rail	`ShippingHandlingAndTransportationCosts`	$15.44M	USD	2 Qtrs
Freight and rail	`ShippingHandlingAndTransportationCosts`	$8.73M	USD	1 Quarter
Freight and rail	`ShippingHandlingAndTransportationCosts`	$7.75M	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$187.95K	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$351.30K	USD	2 Qtrs
Brokerage fees	`BrokerageFees`	$166.70K	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$292.66K	USD	2 Qtrs
Total cost of revenues	`CostOfRevenue`	$87.94M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$175.36M	USD	2 Qtrs
Total cost of revenues	`CostOfRevenue`	$93.98M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$179.83M	USD	2 Qtrs
Gross profit	`GrossProfit`	$2.43M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.63M	USD	2 Qtrs
Gross profit	`GrossProfit`	$9.54M	USD	2 Qtrs
Gross profit	`GrossProfit`	$3.32M	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$1.88M	USD	2 Qtrs
Administration	`GeneralAndAdministrativeExpense`	$1.07M	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$1.80M	USD	2 Qtrs
Administration	`GeneralAndAdministrativeExpense`	$1.08M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$7.74M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$4.75M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$1.35M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.25M	USD	1 Quarter
Interest expense	`InterestExpense`	$287.87K	USD	2 Qtrs
Interest expense	`InterestExpense`	$130.41K	USD	1 Quarter
Interest expense	`InterestExpense`	$110.10K	USD	1 Quarter
Interest expense	`InterestExpense`	$179.12K	USD	2 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$748.18K	USD	2 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$292.33K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$720.28K	USD	2 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$324.93K	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	-	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	$860.85K	USD	2 Qtrs
Patronage dividend income	`InvestmentIncomeDividend`	-	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	$815.80K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$1.25M	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$1.43M	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$194.52K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$182.22K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.18M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.98M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.54M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.43M	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$570.00	USD	2 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$570.00	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-6.21K	USD	2 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.19M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$8.98M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.43M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.54M	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.30	USD	2 Qtrs
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.20	USD	2 Qtrs
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.05	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.08	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 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$6.19M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$8.98M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.43M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.54M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.19M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.57M	USD	2 Qtrs
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	2 Qtrs
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$131.40K	USD	2 Qtrs
Non-cash patronage dividends	`NoncashPatronageDividends`	-	USD	2 Qtrs
Non-cash patronage dividends	`NoncashPatronageDividends`	$6.22K	USD	2 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$9.03M	USD	2 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$2.20M	USD	2 Qtrs
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.41M	USD	2 Qtrs
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.98M	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
Payments to Acquire Notes Receivable	`PaymentsToAcquireNotesReceivable`	-	USD	2 Qtrs
Payments to Acquire Notes Receivable	`PaymentsToAcquireNotesReceivable`	$850.00K	USD	2 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$131.40K	USD	2 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.90M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.90M	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.36M	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.62M	USD	2 Qtrs
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$-3.48M	USD	2 Qtrs
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$2.97M	USD	2 Qtrs
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$15.05M	USD	2 Qtrs
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$15.05M	USD	2 Qtrs
Payments of Debt Issuance Costs	`PaymentsOfDebtIssuanceCosts`	-	USD	2 Qtrs
Payments of Debt Issuance Costs	`PaymentsOfDebtIssuanceCosts`	$6.50K	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$43.99M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$64.30M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$59.48M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$44.04M	USD	2 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.14M	USD	2 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-13.71M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.53M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-17.74M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.39M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$653.19K	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`	$4.22M	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`	$653.19K	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`	$4.22M	USD	Point-in-time
Interest	`InterestPaid`	$278.18K	USD	2 Qtrs
Interest	`InterestPaid`	$316.22K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs

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