10-Q Filing

SOUTH DAKOTA SOYBEAN PROCESSORS LLC CIK: 1163609 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001163609-18-000026`
Period End Date	20180930
Filing Date	20181108
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	sdsp-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 64 Cash Flow Statement 50

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`	$11.65M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$417.42K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$692.21K	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$19.80M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$22.46M	USD	Point-in-time
Inventories	`InventoryNet`	$37.97M	USD	Point-in-time
Inventories	`InventoryNet`	$29.81M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$4.38M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$2.92M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$864.86K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.58M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$56.74M	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`	$108.96M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$50.68M	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`	$58.28M	USD	Point-in-time
Equity investment in affiliate	`EquityMethodInvestments`	$1.75M	USD	Point-in-time
Equity investment in affiliate	`EquityMethodInvestments`	$6.69M	USD	Point-in-time
Investments in cooperatives	`OtherLongTermInvestments`	$1.55M	USD	Point-in-time
Investments in cooperatives	`OtherLongTermInvestments`	$1.53M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$3.28M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$8.24M	USD	Point-in-time
Total assets	`Assets`	$123.22M	USD	Point-in-time
Total assets	`Assets`	$123.27M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$4.21M	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`	$61.96K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$60.75K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.93M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$37.64M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$27.90M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.62M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.17M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$178.83K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$242.89K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$2.26M	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndCreditsCurrent`	$693.13K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$48.74M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$37.93M	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`	$6.34M	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 September 30, 2018 and December 31, 2017	`CapitalUnitsNetAmount`	$79.01M	USD	Point-in-time
Class A Units, no par value, 30,419,000 units issued and outstanding at September 30, 2018 and December 31, 2017	`CapitalUnitsNetAmount`	$69.38M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$123.22M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$123.27M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$291.93M	USD	3 Qtrs
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$100.30M	USD	1 Quarter
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$93.11M	USD	1 Quarter
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$284.34M	USD	3 Qtrs
Production	`ProductionCost`	$6.69M	USD	1 Quarter
Production	`ProductionCost`	$6.04M	USD	1 Quarter
Production	`ProductionCost`	$18.07M	USD	3 Qtrs
Production	`ProductionCost`	$19.66M	USD	3 Qtrs
Brokerage fees	`BrokerageFees`	$512.91K	USD	3 Qtrs
Brokerage fees	`BrokerageFees`	$155.75K	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$466.71K	USD	3 Qtrs
Brokerage fees	`BrokerageFees`	$178.51K	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$274.68M	USD	3 Qtrs
Total cost of revenues	`CostOfRevenue`	$87.71M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$88.92M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$274.55M	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$9.66M	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$12.59M	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$17.38M	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$4.20M	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$1.01M	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$787.58K	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$2.43M	USD	3 Qtrs
Administration	`GeneralAndAdministrativeExpense`	$2.79M	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$7.23M	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$14.59M	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$3.41M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$11.58M	USD	1 Quarter
Interest expense	`InterestExpense`	$314.35K	USD	1 Quarter
Interest expense	`InterestExpense`	$210.61K	USD	1 Quarter
Interest expense	`InterestExpense`	$520.85K	USD	3 Qtrs
Interest expense	`InterestExpense`	$982.28K	USD	3 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$577.16K	USD	3 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$291.08K	USD	1 Quarter
Other non-operating income	`OtherNonoperatingIncome`	$957.29K	USD	3 Qtrs
Other non-operating income	`OtherNonoperatingIncome`	$141.69K	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	$146.26K	USD	3 Qtrs
Patronage dividend income	`InvestmentIncomeDividend`	-	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	$49.73K	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	$493.20K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$26.47K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$121.27K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$549.51K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-68.92K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$11.61M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$7.78M	USD	3 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.34M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$14.71M	USD	3 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$1.96K	USD	3 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$1.94K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$14.71M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$3.34M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$7.78M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$11.61M	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.26	USD	3 Qtrs
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.38	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.48	USD	3 Qtrs
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.11	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	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

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$14.71M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$3.34M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$7.78M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$11.61M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.59M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.10M	USD	3 Qtrs
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$271.93K	USD	3 Qtrs
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$62.95K	USD	3 Qtrs
Loss on equity method investment	`IncomeLossFromEquityMethodInvestments`	-	USD	3 Qtrs
Loss on equity method investment	`IncomeLossFromEquityMethodInvestments`	$-62.00K	USD	3 Qtrs
Non-cash patronage dividends	`NoncashPatronageDividends`	$24.13K	USD	3 Qtrs
Non-cash patronage dividends	`NoncashPatronageDividends`	$6.82K	USD	3 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$3.23M	USD	3 Qtrs
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$2.86M	USD	3 Qtrs
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.07M	USD	3 Qtrs
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.71M	USD	3 Qtrs
Purchase of investments	`PaymentsToAcquireInvestments`	-	USD	3 Qtrs
Purchase of investments	`PaymentsToAcquireInvestments`	$5.00M	USD	3 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$83.01K	USD	3 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$309.87K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.66M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.87M	USD	3 Qtrs
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.58M	USD	3 Qtrs
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.56M	USD	3 Qtrs
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$-2.77M	USD	3 Qtrs
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$-285.93K	USD	3 Qtrs
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$9.44M	USD	3 Qtrs
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$5.08M	USD	3 Qtrs
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	$10.50K	USD	3 Qtrs
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	$14.00K	USD	3 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$96.44M	USD	3 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$47.31M	USD	3 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$46.07M	USD	3 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$89.93M	USD	3 Qtrs
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.73M	USD	3 Qtrs
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.14M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.24M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.68K	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$683.52K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.65M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$417.42K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$692.21K	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`	$11.65M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$417.42K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$692.21K	USD	Point-in-time
Interest	`InterestPaid`	$480.66K	USD	3 Qtrs
Interest	`InterestPaid`	$918.22K	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	$46.46K	USD	3 Qtrs

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