10-K Filing

SOUTH DAKOTA SOYBEAN PROCESSORS LLC CIK: 1163609 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001163609-18-000008`
Period End Date	20171231
Filing Date	20180321
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	sdsp-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 54 Cash Flow Statement 77 Stockholders Equity 5

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$683.52K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.39M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.65M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.74M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$19.80M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$20.35M	USD	Point-in-time
Inventories	`InventoryNet`	$32.39M	USD	Point-in-time
Inventories	`InventoryNet`	$37.97M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$4.38M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$2.40M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.46M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.58M	USD	Point-in-time
Notes, Loans and Financing Receivable, Gross, Noncurrent	`NotesAndLoansReceivableGrossNoncurrent`	$2.00M	USD	Point-in-time
Notes, Loans and Financing Receivable, Gross, Noncurrent	`NotesAndLoansReceivableGrossNoncurrent`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$70.26M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$64.41M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$103.33M	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`	$47.79M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$55.53M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$44.75M	USD	Point-in-time
Equity investment in affiliate	`EquityMethodInvestments`	$1.75M	USD	Point-in-time
Equity investment in affiliate	`EquityMethodInvestments`	-	USD	Point-in-time
Investments in cooperatives	`InvestmentInCooperatives`	$6.23M	USD	Point-in-time
Investments in cooperatives	`InvestmentInCooperatives`	$1.53M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$3.28M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$6.23M	USD	Point-in-time
Total assets	`Assets`	$123.22M	USD	Point-in-time
Total assets	`Assets`	$121.24M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$4.49M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$6.64M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$60.75K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$59.56K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.93M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.46M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$37.64M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$35.69M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.38M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.17M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$201.47K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$178.83K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndLiabilitiesCurrent`	$2.03M	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndLiabilitiesCurrent`	$2.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$48.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$48.74M	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`	$5.10M	USD	Point-in-time
Commitments and contingencies (Notes 9, 10, 12, 17 & 19)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Notes 9, 10, 12, 17 & 19)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$123.22M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$121.24M	USD	Point-in-time

Income Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$367.56M	USD	Annual
Net revenues	`SalesRevenueNet`	$377.93M	USD	Annual
Net revenues	`SalesRevenueNet`	$375.26M	USD	Annual
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$304.37M	USD	Annual
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$305.92M	USD	Annual
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$287.34M	USD	Annual
Production	`ProductionCost`	$24.45M	USD	Annual
Production	`ProductionCost`	$24.21M	USD	Annual
Production	`ProductionCost`	$22.82M	USD	Annual
Freight and rail	`FreightAndRailCosts`	$33.10M	USD	Annual
Freight and rail	`FreightAndRailCosts`	$34.55M	USD	Annual
Freight and rail	`FreightAndRailCosts`	$31.83M	USD	Annual
Brokerage fees	`BrokerageFees`	$674.34K	USD	Annual
Brokerage fees	`BrokerageFees`	$692.18K	USD	Annual
Brokerage fees	`BrokerageFees`	$667.41K	USD	Annual
Total cost of revenues	`CostOfRevenue`	$364.13M	USD	Annual
Total cost of revenues	`CostOfRevenue`	$363.83M	USD	Annual
Total cost of revenues	`CostOfRevenue`	$342.66M	USD	Annual
Gross profit	`GrossProfit`	$24.90M	USD	Annual
Gross profit	`GrossProfit`	$14.10M	USD	Annual
Gross profit	`GrossProfit`	$11.12M	USD	Annual
Administration	`GeneralAndAdministrativeExpense`	$3.57M	USD	Annual
Administration	`GeneralAndAdministrativeExpense`	$3.21M	USD	Annual
Administration	`GeneralAndAdministrativeExpense`	$3.44M	USD	Annual
Operating income	`OperatingIncomeLoss`	$10.66M	USD	Annual
Operating income	`OperatingIncomeLoss`	$7.91M	USD	Annual
Operating income	`OperatingIncomeLoss`	$21.33M	USD	Annual
Interest expense	`InterestExpense`	$413.86K	USD	Annual
Interest expense	`InterestExpense`	$704.60K	USD	Annual
Interest expense	`InterestExpense`	$551.18K	USD	Annual
Other non-operating income (expense)	`OtherNonoperatingIncomeExpense`	$1.35M	USD	Annual
Other non-operating income (expense)	`OtherNonoperatingIncomeExpense`	$-930.95K	USD	Annual
Other non-operating income (expense)	`OtherNonoperatingIncomeExpense`	$1.48M	USD	Annual
Patronage dividend income	`InvestmentIncomeDividend`	$860.85K	USD	Annual
Patronage dividend income	`InvestmentIncomeDividend`	$493.20K	USD	Annual
Patronage dividend income	`InvestmentIncomeDividend`	$815.81K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$1.93M	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.14M	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$1.62M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$22.95M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$12.59M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.77M	USD	Annual
Income tax (expense), net	`IncomeTaxExpenseBenefit`	$-6.21K	USD	Annual
Income tax (expense), net	`IncomeTaxExpenseBenefit`	$570.00	USD	Annual
Income tax (expense), net	`IncomeTaxExpenseBenefit`	$1.94K	USD	Annual
Net income	`NetIncomeLoss`	$12.59M	USD	Annual
Net income	`NetIncomeLoss`	$22.95M	USD	Annual
Net income	`NetIncomeLoss`	$6.77M	USD	Annual
Net income (loss), in dollars per share	`EarningsPerShareBasicAndDiluted`	$0.75	USD	Annual
Net income (loss), in dollars per share	`EarningsPerShareBasicAndDiluted`	$0.22	USD	Annual
Net income (loss), in dollars per share	`EarningsPerShareBasicAndDiluted`	$0.41	USD	Annual
Weighted average number of capital units outstanding for calculation of basic and diluted earnings (loss) per capital unit	`WeightedAverageNumberOfUnitsOutstandingForCalculationOfBasicAndDilutedLossPerCapitalUnit`	30.42M	shares	Annual
Weighted average number of capital units outstanding for calculation of basic and diluted earnings (loss) per capital unit	`WeightedAverageNumberOfUnitsOutstandingForCalculationOfBasicAndDilutedLossPerCapitalUnit`	30.42M	shares	Annual
Weighted average number of capital units outstanding for calculation of basic and diluted earnings (loss) per capital unit	`WeightedAverageNumberOfUnitsOutstandingForCalculationOfBasicAndDilutedLossPerCapitalUnit`	30.42M	shares	Annual

Cash Flow Statement 77 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$12.59M	USD	Annual
Net income	`NetIncomeLoss`	$22.95M	USD	Annual
Net income	`NetIncomeLoss`	$6.77M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.90M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.23M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.62M	USD	Annual
Loss on sale of investments in cooperatives	`GainLossOnSaleOfInvestments`	-	USD	Annual
Loss on sale of investments in cooperatives	`GainLossOnSaleOfInvestments`	$-1.45M	USD	Annual
Loss on sale of investments in cooperatives	`GainLossOnSaleOfInvestments`	-	USD	Annual
(Gain) loss on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-127.84K	USD	Annual
(Gain) loss on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-8.53K	USD	Annual
(Gain) loss on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$126.39K	USD	Annual
Loss on equity method investment	`IncomeLossFromEquityMethodInvestments`	$-411.05K	USD	Annual
Loss on equity method investment	`IncomeLossFromEquityMethodInvestments`	-	USD	Annual
Loss on equity method investment	`IncomeLossFromEquityMethodInvestments`	-	USD	Annual
Non-cash patronage dividends and interest income	`NoncashPatronageDividends`	$168.38K	USD	Annual
Non-cash patronage dividends and interest income	`NoncashPatronageDividends`	-	USD	Annual
Non-cash patronage dividends and interest income	`NoncashPatronageDividends`	$6.22K	USD	Annual
Change in current operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$1.57M	USD	Annual
Change in current operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$4.70M	USD	Annual
Change in current operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-2.45M	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$24.41M	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.40M	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.15M	USD	Annual
Proceeds from investments in cooperatives	`ProceedsFromInvestmentsInCooperatives`	-	USD	Annual
Proceeds from investments in cooperatives	`ProceedsFromInvestmentsInCooperatives`	$3.26M	USD	Annual
Proceeds from investments in cooperatives	`ProceedsFromInvestmentsInCooperatives`	-	USD	Annual
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	$611.45K	USD	Annual
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	-	USD	Annual
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	-	USD	Annual
Purchase of convertible notes receivable	`PaymentsToAcquireNotesReceivable`	$2.00M	USD	Annual
Purchase of convertible notes receivable	`PaymentsToAcquireNotesReceivable`	-	USD	Annual
Purchase of convertible notes receivable	`PaymentsToAcquireNotesReceivable`	-	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$84.19K	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$131.40K	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$29.60K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.23M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.49M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.07M	USD	Annual
Net cash (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.93M	USD	Annual
Net cash (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.58M	USD	Annual
Net cash (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.15M	USD	Annual
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$2.93M	USD	Annual
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$-842.68K	USD	Annual
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$-2.15M	USD	Annual
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$9.44M	USD	Annual
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$15.05M	USD	Annual
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$15.05M	USD	Annual
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	-	USD	Annual
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	$14.00K	USD	Annual
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	$6.50K	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$68.15M	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$132.60M	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$87.10M	USD	Annual
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$87.16M	USD	Annual
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$68.21M	USD	Annual
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$128.21M	USD	Annual
Net cash (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.95M	USD	Annual
Net cash (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.18M	USD	Annual
Net cash (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.22M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.74M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.65M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.97M	USD	Annual
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$683.52K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$18.39M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$11.65M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$10.74M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$683.52K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$18.39M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$11.65M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$10.74M	USD	Point-in-time
Interest	`InterestPaid`	$437.67K	USD	Annual
Interest	`InterestPaid`	$676.74K	USD	Annual
Interest	`InterestPaid`	$727.24K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$46.46K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$42.26K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$2.62K	USD	Annual

Stockholders Equity 5 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$12.59M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$22.95M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$6.77M	USD	Annual
Distribution to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsDeclared`	$9.40M	USD	Point-in-time
Distribution to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsDeclared`	$15.05M	USD	Annual

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