10-Q Filing

SOUTH DAKOTA SOYBEAN PROCESSORS LLC CIK: 1163609 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001163609-16-000055`
Period End Date	20160930
Filing Date	20161109
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	sdsp-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 72 Cash Flow Statement 50

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.38M	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`	$9.10M	USD	Point-in-time
Trade accounts receivable, less allowance for uncollectible accounts of $0 and $495,000 at September 30, 2016 and December 31, 2015, respectively	`AccountsReceivableNetCurrent`	$20.19M	USD	Point-in-time
Trade accounts receivable, less allowance for uncollectible accounts of $0 and $495,000 at September 30, 2016 and December 31, 2015, respectively	`AccountsReceivableNetCurrent`	$21.40M	USD	Point-in-time
Inventories	`InventoryNet`	$38.79M	USD	Point-in-time
Inventories	`InventoryNet`	$26.83M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$7.47M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.04M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$65.39M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$75.76M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$87.33M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$83.08M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$44.53M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$42.16M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$42.80M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$40.92M	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`	$1.43M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$6.31K	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.92K	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$6.23M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$7.66M	USD	Point-in-time
Total assets	`Assets`	$122.91M	USD	Point-in-time
Total assets	`Assets`	$115.85M	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`	$9.36M	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`	$1.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.47M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$30.95M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$35.06M	USD	Point-in-time
Margin deposit deficit	`Deposits`	-	USD	Point-in-time
Margin deposit deficit	`Deposits`	$312.54K	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.29M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.78M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$173.11K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$229.81K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$1.26M	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$538.27K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$47.62M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.66M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$787.10K	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$725.82K	USD	Point-in-time
Commitments and contingencies (Notes 7, 8 and 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Notes 7, 8 and 10)	`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`	$69.47M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$115.85M	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`	$282.25M	USD	3 Qtrs
Net revenues	`SalesRevenueNet`	$280.73M	USD	3 Qtrs
Net revenues	`SalesRevenueNet`	$91.35M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$100.26M	USD	1 Quarter
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$225.26M	USD	3 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$226.57M	USD	3 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$80.17M	USD	1 Quarter
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$71.61M	USD	1 Quarter
Production	`ProductionCost`	$17.97M	USD	3 Qtrs
Production	`ProductionCost`	$6.12M	USD	1 Quarter
Production	`ProductionCost`	$6.84M	USD	1 Quarter
Production	`ProductionCost`	$16.57M	USD	3 Qtrs
Freight and rail	`ShippingHandlingAndTransportationCosts`	$8.67M	USD	1 Quarter
Freight and rail	`ShippingHandlingAndTransportationCosts`	$26.16M	USD	3 Qtrs
Freight and rail	`ShippingHandlingAndTransportationCosts`	$23.04M	USD	3 Qtrs
Freight and rail	`ShippingHandlingAndTransportationCosts`	$7.60M	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$478.11K	USD	3 Qtrs
Brokerage fees	`BrokerageFees`	$185.45K	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$164.79K	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$516.09K	USD	3 Qtrs
Total cost of revenues	`CostOfRevenue`	$95.85M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$271.21M	USD	3 Qtrs
Total cost of revenues	`CostOfRevenue`	$85.52M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$265.35M	USD	3 Qtrs
Gross profit	`GrossProfit`	$4.41M	USD	1 Quarter
Gross profit	`GrossProfit`	$11.04M	USD	3 Qtrs
Gross profit	`GrossProfit`	$15.37M	USD	3 Qtrs
Gross profit	`GrossProfit`	$5.83M	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$752.75K	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$2.56M	USD	3 Qtrs
Administration	`GeneralAndAdministrativeExpense`	$2.65M	USD	3 Qtrs
Administration	`GeneralAndAdministrativeExpense`	$771.70K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$8.39M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$5.08M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$12.82M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$3.64M	USD	1 Quarter
Interest expense	`InterestExpense`	$402.55K	USD	3 Qtrs
Interest expense	`InterestExpense`	$266.83K	USD	3 Qtrs
Interest expense	`InterestExpense`	$114.68K	USD	1 Quarter
Interest expense	`InterestExpense`	$87.70K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$1.02M	USD	3 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$270.69K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$1.02M	USD	3 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$295.02K	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	$860.85K	USD	3 Qtrs
Patronage dividend income	`InvestmentIncomeDividend`	-	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	$815.80K	USD	3 Qtrs
Patronage dividend income	`InvestmentIncomeDividend`	-	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$1.61M	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$180.34K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$182.99K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$1.43M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$14.25M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.82M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.00M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.26M	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$570.00	USD	3 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-6.21K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$5.26M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.82M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.25M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$10.01M	USD	3 Qtrs
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.17	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.47	USD	3 Qtrs
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.13	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.33	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	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

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$5.26M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.82M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.25M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$10.01M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.97M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.38M	USD	3 Qtrs
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$6.85K	USD	3 Qtrs
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$131.40K	USD	3 Qtrs
Non-cash patronage dividends	`NoncashPatronageDividends`	$6.22K	USD	3 Qtrs
Non-cash patronage dividends	`NoncashPatronageDividends`	-	USD	3 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-1.96M	USD	3 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$6.48M	USD	3 Qtrs
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.17M	USD	3 Qtrs
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.77M	USD	3 Qtrs
Proceeds from Sale and Maturity of Other Investments	`ProceedsFromSaleAndMaturityOfOtherInvestments`	$611.45K	USD	3 Qtrs
Proceeds from Sale and Maturity of Other Investments	`ProceedsFromSaleAndMaturityOfOtherInvestments`	-	USD	3 Qtrs
Payments to Acquire Notes Receivable	`PaymentsToAcquireNotesReceivable`	-	USD	3 Qtrs
Payments to Acquire Notes Receivable	`PaymentsToAcquireNotesReceivable`	$1.43M	USD	3 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$14.60K	USD	3 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$131.40K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.24M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.26M	USD	3 Qtrs
Net cash (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.62M	USD	3 Qtrs
Net cash (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.55M	USD	3 Qtrs
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$-1.08M	USD	3 Qtrs
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$1.87M	USD	3 Qtrs
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$15.05M	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`	$77.38M	USD	3 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$68.15M	USD	3 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$77.44M	USD	3 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$68.21M	USD	3 Qtrs
Net cash (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-16.19M	USD	3 Qtrs
Net cash (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-13.23M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-13.02M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.64M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.38M	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`	$9.10M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.38M	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`	$9.10M	USD	Point-in-time
Interest	`InterestPaid`	$350.91K	USD	3 Qtrs
Interest	`InterestPaid`	$323.52K	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	$20.90K	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.