10-Q Filing

SOUTH DAKOTA SOYBEAN PROCESSORS LLC CIK: 1163609 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001163609-18-000024`
Period End Date	20180630
Filing Date	20180810
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	sdsp-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 72 Cash Flow Statement 52

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$683.52K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$347.62K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$710.79K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.65M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$21.75M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$19.80M	USD	Point-in-time
Inventories	`InventoryNet`	$37.97M	USD	Point-in-time
Inventories	`InventoryNet`	$31.24M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$4.38M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$2.30M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.58M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.05M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$64.41M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$57.06M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$103.33M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$106.26M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$47.79M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$49.79M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$55.53M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$56.47M	USD	Point-in-time
Equity investment in affiliate	`EquityMethodInvestments`	$1.75M	USD	Point-in-time
Equity investment in affiliate	`EquityMethodInvestments`	$6.60M	USD	Point-in-time
Investments in cooperatives	`OtherLongTermInvestments`	$1.53M	USD	Point-in-time
Investments in cooperatives	`OtherLongTermInvestments`	$1.55M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$8.15M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$3.28M	USD	Point-in-time
Total assets	`Assets`	$121.68M	USD	Point-in-time
Total assets	`Assets`	$123.22M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$5.41M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$4.49M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$60.75K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$4.06M	USD	Point-in-time
Note payable - seasonal loan	`ShortTermBankLoansAndNotesPayable`	$2.09M	USD	Point-in-time
Note payable - seasonal loan	`ShortTermBankLoansAndNotesPayable`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.93M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$20.55M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$37.64M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.17M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$1.61M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$223.61K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$178.83K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$451.24K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$2.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$35.69M	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`	$5.10M	USD	Point-in-time
Long-term debt, net of current maturities and unamortized debt issuance costs	`LongTermDebtNoncurrent`	$18.59M	USD	Point-in-time
Commitments and contingencies (Notes 7, 8, 13 and 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Notes 7, 8, 13 and 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class A Units, no par value, 30,419,000 units issued and outstanding at June 30, 2018 and December 31, 2017	`CapitalUnitsNetAmount`	$69.38M	USD	Point-in-time
Class A Units, no par value, 30,419,000 units issued and outstanding at June 30, 2018 and December 31, 2017	`CapitalUnitsNetAmount`	$67.40M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$123.22M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$121.68M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$191.62M	USD	2 Qtrs
Net revenues	`SalesRevenueNet`	$93.08M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$96.47M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$191.23M	USD	2 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$72.97M	USD	1 Quarter
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$156.49M	USD	2 Qtrs
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$78.77M	USD	1 Quarter
Cost of product sold	`CostOfGoodsSoldDirectMaterials`	$156.48M	USD	2 Qtrs
Production	`ProductionCost`	$12.97M	USD	2 Qtrs
Production	`ProductionCost`	$6.76M	USD	1 Quarter
Production	`ProductionCost`	$6.05M	USD	1 Quarter
Production	`ProductionCost`	$12.03M	USD	2 Qtrs
Freight and rail	`ShippingHandlingAndTransportationCosts`	$8.61M	USD	1 Quarter
Freight and rail	`ShippingHandlingAndTransportationCosts`	$16.91M	USD	2 Qtrs
Freight and rail	`ShippingHandlingAndTransportationCosts`	$7.86M	USD	1 Quarter
Freight and rail	`ShippingHandlingAndTransportationCosts`	$17.07M	USD	2 Qtrs
Brokerage fees	`BrokerageFees`	$148.96K	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$310.95K	USD	2 Qtrs
Brokerage fees	`BrokerageFees`	$142.60K	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$334.39K	USD	2 Qtrs
Total cost of revenues	`CostOfRevenue`	$185.76M	USD	2 Qtrs
Total cost of revenues	`CostOfRevenue`	$93.57M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$87.73M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$186.84M	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$5.35M	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$2.89M	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$5.47M	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$4.79M	USD	2 Qtrs
Administration	`GeneralAndAdministrativeExpense`	$789.82K	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$1.78M	USD	2 Qtrs
Administration	`GeneralAndAdministrativeExpense`	$1.65M	USD	2 Qtrs
Administration	`GeneralAndAdministrativeExpense`	$813.31K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$3.82M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$4.54M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$3.01M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$2.10M	USD	1 Quarter
Interest expense	`InterestExpense`	$310.24K	USD	2 Qtrs
Interest expense	`InterestExpense`	$158.13K	USD	1 Quarter
Interest expense	`InterestExpense`	$667.93K	USD	2 Qtrs
Interest expense	`InterestExpense`	$364.07K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$666.21K	USD	2 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$218.96K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$435.46K	USD	2 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$483.22K	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	$96.52K	USD	2 Qtrs
Patronage dividend income	`InvestmentIncomeDividend`	$493.20K	USD	2 Qtrs
Patronage dividend income	`InvestmentIncomeDividend`	-	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	-	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$60.84K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$119.16K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$94.80K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$618.43K	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.10M	USD	2 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.16M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.65M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.44M	USD	2 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$1.96K	USD	2 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$1.94K	USD	2 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$1.94K	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$4.65M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.16M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$3.10M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$4.44M	USD	2 Qtrs
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.10	USD	2 Qtrs
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.15	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.15	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	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	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	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$4.65M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.16M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$3.10M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$4.44M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.73M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.00M	USD	2 Qtrs
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$62.95K	USD	2 Qtrs
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$271.88K	USD	2 Qtrs
Loss on equity method investment	`IncomeLossFromEquityMethodInvestments`	$-153.78K	USD	2 Qtrs
Loss on equity method investment	`IncomeLossFromEquityMethodInvestments`	-	USD	2 Qtrs
Non-cash patronage dividends	`NoncashPatronageDividends`	$6.82K	USD	2 Qtrs
Non-cash patronage dividends	`NoncashPatronageDividends`	$24.13K	USD	2 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$12.67M	USD	2 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$11.17M	USD	2 Qtrs
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.07M	USD	2 Qtrs
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.71M	USD	2 Qtrs
Purchase of investments	`PaymentsToAcquireInvestments`	$5.00M	USD	2 Qtrs
Purchase of investments	`PaymentsToAcquireInvestments`	-	USD	2 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$299.37K	USD	2 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$83.01K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.97M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.45M	USD	2 Qtrs
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.36M	USD	2 Qtrs
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.67M	USD	2 Qtrs
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$910.17K	USD	2 Qtrs
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$-823.83K	USD	2 Qtrs
Proceeds from (Repayments of) Short-term Debt	`ProceedsFromRepaymentsOfShortTermDebt`	$2.09M	USD	2 Qtrs
Proceeds from (Repayments of) Short-term Debt	`ProceedsFromRepaymentsOfShortTermDebt`	-	USD	2 Qtrs
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$5.08M	USD	2 Qtrs
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$9.44M	USD	2 Qtrs
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	$14.00K	USD	2 Qtrs
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	$10.50K	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$37.90M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$62.98M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$20.41M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$50.57M	USD	2 Qtrs
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.40M	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`	$27.27K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.31M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$683.52K	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`	$710.79K	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`	$683.52K	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`	$710.79K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.65M	USD	Point-in-time
Interest	`InterestPaid`	$623.14K	USD	2 Qtrs
Interest	`InterestPaid`	$332.28K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	-	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.