10-Q Filing

SOUTH DAKOTA SOYBEAN PROCESSORS LLC CIK: 1163609 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001163609-20-000019`
Period End Date	20200331
Filing Date	20200508
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	sdsp-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 32 Cash Flow Statement 54 Stockholders Equity 4

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$359.86K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$624.68K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$619.79K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.20M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$24.42M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$22.21M	USD	Point-in-time
Inventories	`InventoryNet`	$58.98M	USD	Point-in-time
Inventories	`InventoryNet`	$44.47M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$6.77M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$6.01M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.88M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.34M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$78.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$88.91M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$120.21M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$118.36M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$53.85M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$55.02M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$65.19M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$64.52M	USD	Point-in-time
Investments in related parties	`EquityMethodInvestments`	$7.87M	USD	Point-in-time
Investments in related parties	`EquityMethodInvestments`	$8.28M	USD	Point-in-time
Investments in cooperatives	`OtherLongTermInvestments`	$1.56M	USD	Point-in-time
Investments in cooperatives	`OtherLongTermInvestments`	$1.54M	USD	Point-in-time
Right-of-use lease asset, net	`OperatingLeaseRightOfUseAsset`	$5.98M	USD	Point-in-time
Right-of-use lease asset, net	`OperatingLeaseRightOfUseAsset`	$8.56M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$15.42M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$18.37M	USD	Point-in-time
Total assets	`Assets`	$172.48M	USD	Point-in-time
Total assets	`Assets`	$158.10M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$5.55M	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`	$4.60M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$4.60M	USD	Point-in-time
Note payable - seasonal loan	`ShortTermBankLoansAndNotesPayable`	$1.74M	USD	Point-in-time
Note payable - seasonal loan	`ShortTermBankLoansAndNotesPayable`	$19.72M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.66M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$5.75M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$641.64K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.90M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$31.35M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$29.58M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$3.28M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$2.90M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$123.87K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$74.77K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndLiabilitiesCurrent`	$448.46K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndLiabilitiesCurrent`	$970.34K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$70.21M	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`	$19.98M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$2.81M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$3.32M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$15.31M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$22.79M	USD	Point-in-time
Commitments and contingencies (Notes 6, 7, 8, and 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Notes 6, 7, 8, and 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$158.10M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$172.48M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$98.72M	USD	1 Quarter
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$91.97M	USD	1 Quarter
Production	`ProductionCost`	$6.87M	USD	1 Quarter
Production	`ProductionCost`	$7.42M	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$169.94K	USD	1 Quarter
Brokerage fees	`BrokerageFees`	$163.24K	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$97.00M	USD	1 Quarter
Total cost of revenues	`CostOfRevenue`	$86.51M	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$5.46M	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$1.72M	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$1.01M	USD	1 Quarter
Administration	`GeneralAndAdministrativeExpense`	$1.02M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$699.73K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$4.45M	USD	1 Quarter
Interest expense	`InterestExpense`	$192.56K	USD	1 Quarter
Interest expense	`InterestExpense`	$349.99K	USD	1 Quarter
Other non-operating income (expense)	`OtherNonoperatingIncomeExpense`	$-322.22K	USD	1 Quarter
Other non-operating income (expense)	`OtherNonoperatingIncomeExpense`	$319.37K	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	$195.55K	USD	1 Quarter
Patronage dividend income	`InvestmentIncomeDividend`	$169.46K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-476.65K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$296.26K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$223.08K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.75M	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$600.00	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$223.08K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$4.75M	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.16	USD	1 Quarter
Net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.01	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	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$223.08K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$4.75M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.07M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.19M	USD	1 Quarter
Net (gain) loss recognized on derivative activities	`DerivativeGainLossOnDerivativeNet`	$5.14M	USD	1 Quarter
Net (gain) loss recognized on derivative activities	`DerivativeGainLossOnDerivativeNet`	$748.37K	USD	1 Quarter
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Gain on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$6.69K	USD	1 Quarter
Loss on equity method investment	`IncomeLossFromEquityMethodInvestments`	$-96.23K	USD	1 Quarter
Loss on equity method investment	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Non-cash patronage dividends	`NoncashPatronageDividends`	$42.36K	USD	1 Quarter
Non-cash patronage dividends	`NoncashPatronageDividends`	$43.41K	USD	1 Quarter
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$28.24M	USD	1 Quarter
Change in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$10.95M	USD	1 Quarter
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-14.72M	USD	1 Quarter
Net cash provided by (used for) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-23.13M	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireInvestments`	$404.33K	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireInvestments`	-	USD	1 Quarter
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	$32.29K	USD	1 Quarter
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	$66.21K	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$64.80K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.41M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.86M	USD	1 Quarter
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.32M	USD	1 Quarter
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.20M	USD	1 Quarter
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$-2.62M	USD	1 Quarter
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$4.53M	USD	1 Quarter
Net proceeds (payments) from seasonal borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$10.54M	USD	1 Quarter
Net proceeds (payments) from seasonal borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$17.97M	USD	1 Quarter
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$6.69M	USD	1 Quarter
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$15.21M	USD	1 Quarter
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	$10.00K	USD	1 Quarter
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$10.00M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$33.51M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$15.51M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$2.00M	USD	1 Quarter
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$17.87M	USD	1 Quarter
Net cash provided by (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$16.65M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.58M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-264.82K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$359.86K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$624.68K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$619.79K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.20M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$359.86K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$624.68K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$619.79K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.20M	USD	Point-in-time
Interest	`InterestPaidNet`	$90.00K	USD	1 Quarter
Interest	`InterestPaidNet`	$300.89K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter

Stockholders Equity 4 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$223.08K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$4.75M	USD	1 Quarter
Distribution to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$6.69M	USD	1 Quarter
Distribution to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$15.21M	USD	1 Quarter

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