10-Q Filing

SOUTH DAKOTA SOYBEAN PROCESSORS LLC CIK: 1163609 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001163609-17-000031`
Period End Date	20170630
Filing Date	20170725
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	sdsp-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 72 Cash Flow Statement 49

Balance Sheet 52 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`	$347.62K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.65M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$22.11M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$20.35M	USD	Point-in-time
Inventories	`InventoryNet`	$24.41M	USD	Point-in-time
Inventories	`InventoryNet`	$32.39M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$2.40M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$4.95M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.46M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$956.73K	USD	Point-in-time
Notes, Loans and Financing Receivable, Gross, Current	`NotesAndLoansReceivableGrossCurrent`	$1.25M	USD	Point-in-time
Notes, Loans and Financing Receivable, Gross, Current	`NotesAndLoansReceivableGrossCurrent`	$2.00M	USD	Point-in-time
Notes, Loans and Financing Receivable, Gross, Current	`NotesAndLoansReceivableGrossCurrent`	$750.00K	USD	Point-in-time
Notes, Loans and Financing Receivable, Gross, Current	`NotesAndLoansReceivableGrossCurrent`	$2.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$70.26M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$54.78M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$98.18M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$89.83M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$45.08M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$46.73M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$51.45M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$44.75M	USD	Point-in-time
Other Long-term Investments	`OtherLongTermInvestments`	$6.24M	USD	Point-in-time
Other Long-term Investments	`OtherLongTermInvestments`	$6.23M	USD	Point-in-time
Total assets	`Assets`	$112.47M	USD	Point-in-time
Total assets	`Assets`	$121.24M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$6.64M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$5.82M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$59.56K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$60.75K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.11M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$35.69M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$21.93M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.38M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.73M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$179.42K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$201.47K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$2.03M	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$468.31K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$32.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$48.46M	USD	Point-in-time
Long-term debt, net of current maturities and unamortized debt issuance costs	`LongTermDebtNoncurrent`	$724.03K	USD	Point-in-time
Long-term debt, net of current maturities and unamortized debt issuance costs	`LongTermDebtNoncurrent`	$13.12M	USD	Point-in-time
Commitments and contingencies (Notes 6, 7,11 and 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Notes 6, 7,11 and 12)	`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`	$72.05M	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`	$67.05M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$112.47M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$121.24M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$96.47M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$97.30M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$191.23M	USD	2 Qtrs
Net revenues	`SalesRevenueNet`	$182.00M	USD	2 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$78.77M	USD	1 Quarter
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$146.39M	USD	2 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$79.56M	USD	1 Quarter
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$156.49M	USD	2 Qtrs
Production	`ProductionCost`	$11.13M	USD	2 Qtrs
Production	`ProductionCost`	$5.50M	USD	1 Quarter
Production	`ProductionCost`	$12.03M	USD	2 Qtrs
Production	`ProductionCost`	$6.05M	USD	1 Quarter
Freight and rail	`ShippingHandlingAndTransportationCosts`	$17.49M	USD	2 Qtrs
Freight and rail	`ShippingHandlingAndTransportationCosts`	$8.61M	USD	1 Quarter
Freight and rail	`ShippingHandlingAndTransportationCosts`	$8.73M	USD	1 Quarter
Freight and rail	`ShippingHandlingAndTransportationCosts`	$16.91M	USD	2 Qtrs
Brokerage fees	`BrokerageFees`	$334.39K	USD	2 Qtrs
Brokerage fees	`BrokerageFees`	$148.96K	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$187.95K	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$351.30K	USD	2 Qtrs
Total cost of revenues	`CostOfRevenue`	$175.36M	USD	2 Qtrs
Total cost of revenues	`CostOfRevenue`	$185.76M	USD	2 Qtrs
Total cost of revenues	`CostOfRevenue`	$93.98M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$93.57M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.47M	USD	2 Qtrs
Gross profit	`GrossProfit`	$2.89M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.63M	USD	2 Qtrs
Gross profit	`GrossProfit`	$3.32M	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$1.07M	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$789.82K	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$1.88M	USD	2 Qtrs
Administration	`GeneralAndAdministrativeExpense`	$1.65M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$3.82M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$2.10M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.25M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$4.76M	USD	2 Qtrs
Interest expense	`InterestExpense`	$181.39K	USD	2 Qtrs
Interest expense	`InterestExpense`	$111.24K	USD	1 Quarter
Interest expense	`InterestExpense`	$158.13K	USD	1 Quarter
Interest expense	`InterestExpense`	$310.24K	USD	2 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$292.33K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$218.96K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$748.18K	USD	2 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$435.46K	USD	2 Qtrs
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`	$493.20K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$618.43K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$60.84K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$181.09K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$1.43M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.43M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.18M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.16M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.44M	USD	2 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-6.21K	USD	2 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$1.94K	USD	2 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$1.94K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.43M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.16M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.19M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.44M	USD	2 Qtrs
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.08	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.15	USD	2 Qtrs
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.20	USD	2 Qtrs
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.07	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	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

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.43M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.16M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.19M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.44M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.73M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.57M	USD	2 Qtrs
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$131.40K	USD	2 Qtrs
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$62.95K	USD	2 Qtrs
Non-cash patronage dividends	`NoncashPatronageDividends`	$6.22K	USD	2 Qtrs
Non-cash patronage dividends	`NoncashPatronageDividends`	$6.82K	USD	2 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$9.03M	USD	2 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$11.17M	USD	2 Qtrs
Net cash (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.41M	USD	2 Qtrs
Net cash (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.07M	USD	2 Qtrs
Payments to Acquire Notes Receivable	`PaymentsToAcquireNotesReceivable`	$850.00K	USD	2 Qtrs
Payments to Acquire Notes Receivable	`PaymentsToAcquireNotesReceivable`	-	USD	2 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$83.01K	USD	2 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$131.40K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.45M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.90M	USD	2 Qtrs
Net cash (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.36M	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`	$-823.83K	USD	2 Qtrs
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$9.44M	USD	2 Qtrs
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$15.05M	USD	2 Qtrs
Payments of Debt Issuance Costs	`PaymentsOfDebtIssuanceCosts`	$14.00K	USD	1 Quarter
Payments of Debt Issuance Costs	`PaymentsOfDebtIssuanceCosts`	$14.00K	USD	2 Qtrs
Payments of Debt Issuance Costs	`PaymentsOfDebtIssuanceCosts`	-	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$62.98M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$64.30M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$50.57M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$59.48M	USD	2 Qtrs
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-13.71M	USD	2 Qtrs
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.13M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.31M	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`	$347.62K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.65M	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`	$347.62K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.65M	USD	Point-in-time
Interest	`InterestPaid`	$332.28K	USD	2 Qtrs
Interest	`InterestPaid`	$278.18K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$27.77K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$35.86K	USD	2 Qtrs

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