10-K Filing

SOUTH DAKOTA SOYBEAN PROCESSORS LLC CIK: 1163609 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001163609-20-000013`
Period End Date	20191231
Filing Date	20200318
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	sdsp-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 51 Cash Flow Statement 81 Stockholders Equity 4

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.65M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$683.52K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$624.68K	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$24.42M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$20.55M	USD	Point-in-time
Inventories	`InventoryNet`	$36.72M	USD	Point-in-time
Inventories	`InventoryNet`	$44.47M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$2.35M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$6.77M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.49M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.88M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$68.31M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$78.17M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$110.31M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$118.36M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$51.25M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$53.85M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$64.52M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$59.07M	USD	Point-in-time
Investments in related parties	`EquityMethodInvestments`	$8.01M	USD	Point-in-time
Investments in related parties	`EquityMethodInvestments`	$7.87M	USD	Point-in-time
Investments in cooperatives	`InvestmentInCooperatives`	$1.56M	USD	Point-in-time
Investments in cooperatives	`InvestmentInCooperatives`	$1.55M	USD	Point-in-time
Operating Lease, Right-of-Use Asset	`OperatingLeaseRightOfUseAsset`	$7.92M	USD	Point-in-time
Operating Lease, Right-of-Use Asset	`OperatingLeaseRightOfUseAsset`	$5.98M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$15.42M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$17.48M	USD	Point-in-time
Total assets	`Assets`	$144.85M	USD	Point-in-time
Total assets	`Assets`	$158.10M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$3.89M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$8.16M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$61.96K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$4.60M	USD	Point-in-time
Notes Payable, Seasonal Loan, Current	`NotesPayableSeasonalLoanCurrent`	$1.74M	USD	Point-in-time
Notes Payable, Seasonal Loan, Current	`NotesPayableSeasonalLoanCurrent`	-	USD	Point-in-time
Operating Lease, Liability, Current	`OperatingLeaseLiabilityCurrent`	$2.66M	USD	Point-in-time
Operating Lease, Liability, Current	`OperatingLeaseLiabilityCurrent`	$2.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.33M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$35.38M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$31.35M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$3.70M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.90M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$74.77K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$10.67K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndLiabilitiesCurrent`	$792.38K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndLiabilitiesCurrent`	$448.46K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$48.88M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$56.85M	USD	Point-in-time
Long-term debt, net of current maturities and unamortized debt issuance costs	`LongTermDebtNoncurrent`	$11.99M	USD	Point-in-time
Long-term debt, net of current maturities and unamortized debt issuance costs	`LongTermDebtNoncurrent`	$593.03K	USD	Point-in-time
Operating Lease, Liability, Noncurrent	`OperatingLeaseLiabilityNoncurrent`	$3.32M	USD	Point-in-time
Operating Lease, Liability, Noncurrent	`OperatingLeaseLiabilityNoncurrent`	$5.20M	USD	Point-in-time
Commitments and contingencies (Notes 8, 9, 10, 16 & 18)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Notes 8, 9, 10, 16 & 18)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$144.85M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$158.10M	USD	Point-in-time

Income Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$375.76M	USD	Annual
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$391.76M	USD	Annual
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$371.28M	USD	Annual
Production	`ProductionCost`	$30.89M	USD	Annual
Production	`ProductionCost`	$24.45M	USD	Annual
Production	`ProductionCost`	$27.04M	USD	Annual
Freight and rail	`FreightAndRailCosts`	$33.10M	USD	Annual
Freight and rail	`FreightAndRailCosts`	$36.16M	USD	Annual
Freight and rail	`FreightAndRailCosts`	$35.57M	USD	Annual
Brokerage fees	`BrokerageFees`	$634.13K	USD	Annual
Brokerage fees	`BrokerageFees`	$667.41K	USD	Annual
Brokerage fees	`BrokerageFees`	$669.77K	USD	Annual
Total cost of revenues	`CostOfRevenue`	$362.60M	USD	Annual
Total cost of revenues	`CostOfRevenue`	$364.15M	USD	Annual
Total cost of revenues	`CostOfRevenue`	$356.48M	USD	Annual
Gross profit	`GrossProfit`	$29.16M	USD	Annual
Gross profit	`GrossProfit`	$11.61M	USD	Annual
Gross profit	`GrossProfit`	$14.80M	USD	Annual
Administration	`GeneralAndAdministrativeExpense`	$3.62M	USD	Annual
Administration	`GeneralAndAdministrativeExpense`	$3.21M	USD	Annual
Administration	`GeneralAndAdministrativeExpense`	$3.83M	USD	Annual
Operating income	`OperatingIncomeLoss`	$11.18M	USD	Annual
Operating income	`OperatingIncomeLoss`	$8.40M	USD	Annual
Operating income	`OperatingIncomeLoss`	$25.33M	USD	Annual
Interest expense	`InterestExpense`	$457.91K	USD	Annual
Interest expense	`InterestExpense`	$919.16K	USD	Annual
Interest expense	`InterestExpense`	$897.94K	USD	Annual
Other non-operating income (expense)	`OtherNonoperatingIncomeExpense`	$-1.66M	USD	Annual
Other non-operating income (expense)	`OtherNonoperatingIncomeExpense`	$554.36K	USD	Annual
Other non-operating income (expense)	`OtherNonoperatingIncomeExpense`	$1.30M	USD	Annual
Patronage dividend income	`InvestmentIncomeDividend`	$493.20K	USD	Annual
Patronage dividend income	`InvestmentIncomeDividend`	$146.26K	USD	Annual
Patronage dividend income	`InvestmentIncomeDividend`	$169.46K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.63M	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-195.34K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$551.04K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.98M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.77M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$25.88M	USD	Annual
Income tax (expense), net	`IncomeTaxExpenseBenefit`	$600.00	USD	Annual
Income tax (expense), net	`IncomeTaxExpenseBenefit`	$1.96K	USD	Annual
Income tax (expense), net	`IncomeTaxExpenseBenefit`	$1.94K	USD	Annual
Net income	`NetIncomeLoss`	$6.77M	USD	Annual
Net income	`NetIncomeLoss`	$10.98M	USD	Annual
Net income	`NetIncomeLoss`	$25.88M	USD	Annual
Net income (loss), in dollars per share	`EarningsPerShareBasicAndDiluted`	$0.36	USD	Annual
Net income (loss), in dollars per share	`EarningsPerShareBasicAndDiluted`	$0.85	USD	Annual
Net income (loss), in dollars per share	`EarningsPerShareBasicAndDiluted`	$0.22	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 81 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$6.77M	USD	Annual
Net income	`NetIncomeLoss`	$10.98M	USD	Annual
Net income	`NetIncomeLoss`	$25.88M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.17M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.49M	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`	$-8.53K	USD	Annual
(Gain) loss on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-64.24K	USD	Annual
(Gain) loss on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$246.21K	USD	Annual
Loss on equity method investment	`IncomeLossFromEquityMethodInvestments`	$-411.05K	USD	Annual
Loss on equity method investment	`IncomeLossFromEquityMethodInvestments`	$-135.59K	USD	Annual
Loss on equity method investment	`IncomeLossFromEquityMethodInvestments`	$-61.20K	USD	Annual
Non-cash patronage dividends and interest income	`NoncashPatronageDividends`	$42.36K	USD	Annual
Non-cash patronage dividends and interest income	`NoncashPatronageDividends`	$24.13K	USD	Annual
Non-cash patronage dividends and interest income	`NoncashPatronageDividends`	$168.38K	USD	Annual
Change in current operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$18.97M	USD	Annual
Change in current operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-641.52K	USD	Annual
Change in current operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$4.70M	USD	Annual
Net cash (used for) from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$30.48M	USD	Annual
Net cash (used for) from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.40M	USD	Annual
Net cash (used for) from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.35M	USD	Annual
Proceeds from investments in cooperatives	`ProceedsFromInvestmentsInCooperatives`	$3.26M	USD	Annual
Proceeds from investments in cooperatives	`ProceedsFromInvestmentsInCooperatives`	-	USD	Annual
Proceeds from investments in cooperatives	`ProceedsFromInvestmentsInCooperatives`	-	USD	Annual
Payments to Acquire Investments	`PaymentsToAcquireInvestments`	-	USD	Annual
Payments to Acquire Investments	`PaymentsToAcquireInvestments`	-	USD	Annual
Payments to Acquire Investments	`PaymentsToAcquireInvestments`	$6.32M	USD	Annual
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	-	USD	Annual
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	-	USD	Annual
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	$32.29K	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$65.83K	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$580.57K	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$84.19K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.49M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.03M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.07M	USD	Annual
Net cash (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.97M	USD	Annual
Net cash (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.15M	USD	Annual
Net cash (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.77M	USD	Annual
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$4.27M	USD	Annual
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$-2.15M	USD	Annual
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$-601.78K	USD	Annual
Net (payments) proceeds from seasonal borrowings	`ProceedsFromPaymentsOfSeasonalBorrwings`	-	USD	Annual
Net (payments) proceeds from seasonal borrowings	`ProceedsFromPaymentsOfSeasonalBorrwings`	$1.74M	USD	Annual
Net (payments) proceeds from seasonal borrowings	`ProceedsFromPaymentsOfSeasonalBorrwings`	-	USD	Annual
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$9.44M	USD	Annual
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$5.08M	USD	Annual
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$15.21M	USD	Annual
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	$14.00K	USD	Annual
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	-	USD	Annual
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	$14.00K	USD	Point-in-time
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	$10.50K	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$66.98M	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$132.60M	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$71.48M	USD	Annual
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$55.54M	USD	Annual
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$128.21M	USD	Annual
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$71.49M	USD	Annual
Net cash from (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.22M	USD	Annual
Net cash from (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.74M	USD	Annual
Net cash from (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.20M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.51M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.97M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.57M	USD	Annual
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$11.65M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$7.20M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$683.52K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$624.68K	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`	$7.20M	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`	$624.68K	USD	Point-in-time
Interest	`InterestPaidNet`	$1.14M	USD	Annual
Interest	`InterestPaidNet`	$727.24K	USD	Annual
Interest	`InterestPaidNet`	$855.06K	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	$-21.62K	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	$46.46K	USD	Annual

Stockholders Equity 4 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$6.77M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$10.98M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$25.88M	USD	Annual
Distribution to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsDeclared`	$9.44M	USD	Annual

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