10-K/A Filing

SOUTH DAKOTA SOYBEAN PROCESSORS LLC CIK: 1163609 FY 2021

Filing Information

Form Type	10-K/A
Accession Number	`0001163609-22-000014`
Period End Date	20211231
Filing Date	20220427
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	sdsp-20211231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 54 Cash Flow Statement 84 Stockholders Equity 4

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.65M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$624.68K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$833.74K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.20M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$28.99M	USD	Point-in-time
Trade accounts receivable	`AccountsReceivableNetCurrent`	$36.57M	USD	Point-in-time
Inventories	`InventoryNet`	$95.07M	USD	Point-in-time
Inventories	`InventoryNet`	$69.59M	USD	Point-in-time
Commodity derivative instruments	`CommodityContractAssetCurrent`	$28.42M	USD	Point-in-time
Commodity derivative instruments	`CommodityContractAssetCurrent`	$11.93M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$6.02M	USD	Point-in-time
Margin deposits	`MarginDepositAssets`	$2.10M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.69M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.09M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$149.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$138.76M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$133.92M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentGross`	$122.20M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$61.39M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$57.96M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$72.53M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$64.23M	USD	Point-in-time
Investments in related parties	`EquityMethodInvestments`	$10.76M	USD	Point-in-time
Investments in related parties	`EquityMethodInvestments`	$9.33M	USD	Point-in-time
Investments in cooperatives	`InvestmentInCooperatives`	$1.56M	USD	Point-in-time
Investments in cooperatives	`InvestmentInCooperatives`	$1.54M	USD	Point-in-time
Operating Lease, Right-of-Use Asset	`OperatingLeaseRightOfUseAsset`	$11.23M	USD	Point-in-time
Operating Lease, Right-of-Use Asset	`OperatingLeaseRightOfUseAsset`	$11.96M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$23.56M	USD	Point-in-time
Total other assets	`AssetsNoncurrentExcludingPropertyPlantAndEquipment`	$22.83M	USD	Point-in-time
Total assets	`Assets`	$225.82M	USD	Point-in-time
Total assets	`Assets`	$245.29M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$10.70M	USD	Point-in-time
Excess of outstanding checks over bank balance	`BankOverdrafts`	$8.26M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	-	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.90M	USD	Point-in-time
Note payable - seasonal loan	`NotesPayableSeasonalLoanCurrent`	-	USD	Point-in-time
Note payable - seasonal loan	`NotesPayableSeasonalLoanCurrent`	-	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$5.85M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$3.30M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$1.96M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.93M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$60.89M	USD	Point-in-time
Accrued commodity purchases	`AccruedCommodityPurchasesCurrent`	$44.96M	USD	Point-in-time
Commodity derivative instruments	`CommodityContractLiabilitiesCurrent`	$27.64M	USD	Point-in-time
Commodity derivative instruments	`CommodityContractLiabilitiesCurrent`	$41.94M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$4.31M	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$3.08M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$67.13K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$40.56K	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndLiabilitiesCurrent`	$1.35M	USD	Point-in-time
Deferred liabilities - current	`DeferredRevenueAndLiabilitiesCurrent`	$1.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$111.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$107.37M	USD	Point-in-time
Long-term debt, net of current maturities and unamortized debt issuance costs	`LongTermDebtNoncurrent`	$17.50M	USD	Point-in-time
Long-term debt, net of current maturities and unamortized debt issuance costs	`LongTermDebtNoncurrent`	$13.99M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$6.11M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$6.13M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$20.12M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$23.61M	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`	$225.82M	USD	Point-in-time
Total liabilities and members' equity	`LiabilitiesAndStockholdersEquity`	$245.29M	USD	Point-in-time

Income Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$590.15M	USD	Annual
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$415.03M	USD	Annual
Net revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$371.28M	USD	Annual
Cost of product sold	`CostOfGoodsAndServicesSold`	$327.35M	USD	Annual
Cost of product sold	`CostOfGoodsAndServicesSold`	$289.38M	USD	Annual
Cost of product sold	`CostOfGoodsAndServicesSold`	$481.43M	USD	Annual
Production	`ProductionCost`	$31.98M	USD	Annual
Production	`ProductionCost`	$30.89M	USD	Annual
Production	`ProductionCost`	$29.45M	USD	Annual
Freight and rail	`FreightAndRailCosts`	$35.57M	USD	Annual
Freight and rail	`FreightAndRailCosts`	$42.49M	USD	Annual
Freight and rail	`FreightAndRailCosts`	$38.30M	USD	Annual
Brokerage fees	`BrokerageFees`	$634.13K	USD	Annual
Brokerage fees	`BrokerageFees`	$776.94K	USD	Annual
Brokerage fees	`BrokerageFees`	$671.82K	USD	Annual
Total cost of revenues	`CostOfRevenue`	$395.77M	USD	Annual
Total cost of revenues	`CostOfRevenue`	$356.48M	USD	Annual
Total cost of revenues	`CostOfRevenue`	$556.68M	USD	Annual
Gross profit	`GrossProfit`	$33.47M	USD	Annual
Gross profit	`GrossProfit`	$19.25M	USD	Annual
Gross profit	`GrossProfit`	$14.80M	USD	Annual
Administration	`GeneralAndAdministrativeExpense`	$3.82M	USD	Annual
Administration	`GeneralAndAdministrativeExpense`	$4.59M	USD	Annual
Administration	`GeneralAndAdministrativeExpense`	$3.62M	USD	Annual
Operating income	`OperatingIncomeLoss`	$15.43M	USD	Annual
Operating income	`OperatingIncomeLoss`	$28.88M	USD	Annual
Operating income	`OperatingIncomeLoss`	$11.18M	USD	Annual
Interest expense	`InterestExpense`	$1.09M	USD	Annual
Interest expense	`InterestExpense`	$1.63M	USD	Annual
Interest expense	`InterestExpense`	$919.16K	USD	Annual
Other non-operating income (expense)	`OtherNonoperatingIncomeExpense`	$1.04M	USD	Annual
Other non-operating income (expense)	`OtherNonoperatingIncomeExpense`	$554.36K	USD	Annual
Other non-operating income (expense)	`OtherNonoperatingIncomeExpense`	$393.02K	USD	Annual
Patronage dividend income	`InvestmentIncomeDividend`	$365.15K	USD	Annual
Patronage dividend income	`InvestmentIncomeDividend`	$195.55K	USD	Annual
Patronage dividend income	`InvestmentIncomeDividend`	$169.46K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-195.34K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$148.07K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-876.20K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$28.01M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$15.58M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.98M	USD	Annual
Income tax (expense), net	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax (expense), net	`IncomeTaxExpenseBenefit`	$600.00	USD	Annual
Income tax (expense), net	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net income	`NetIncomeLoss`	$28.01M	USD	Annual
Net income	`NetIncomeLoss`	$15.58M	USD	Annual
Net income	`NetIncomeLoss`	$10.98M	USD	Annual
Basic and diluted earnings (loss) per capital unit:	`EarningsPerShareBasicAndDiluted`	$0.36	USD	Annual
Basic and diluted earnings (loss) per capital unit:	`EarningsPerShareBasicAndDiluted`	$0.51	USD	Annual
Basic and diluted earnings (loss) per capital unit:	`EarningsPerShareBasicAndDiluted`	$0.92	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 84 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$28.01M	USD	Annual
Net income	`NetIncomeLoss`	$15.58M	USD	Annual
Net income	`NetIncomeLoss`	$10.98M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.49M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.09M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.91M	USD	Annual
Net (gain) loss recognized on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	$-8.93M	USD	Annual
Net (gain) loss recognized on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	$-4.15M	USD	Annual
Net (gain) loss recognized on derivative instruments	`GainLossOnDerivativeInstrumentsNetPretax`	$-10.04M	USD	Annual
(Gain) loss on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$7.45K	USD	Annual
(Gain) loss on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-64.24K	USD	Annual
(Gain) loss on sales of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$96.51K	USD	Annual
Loss on equity method investment	`IncomeLossFromEquityMethodInvestments`	-	USD	Annual
Loss on equity method investment	`IncomeLossFromEquityMethodInvestments`	-	USD	Annual
Loss on equity method investment	`IncomeLossFromEquityMethodInvestments`	$-135.59K	USD	Annual
Non-cash patronage dividends and interest income	`NoncashPatronageDividends`	$43.41K	USD	Annual
Non-cash patronage dividends and interest income	`NoncashPatronageDividends`	$75.41K	USD	Annual
Non-cash patronage dividends and interest income	`NoncashPatronageDividends`	$42.36K	USD	Annual
Forgiveness of Paycheck Protection Program loan	`LoanForgiveness`	$1.21M	USD	Annual
Forgiveness of Paycheck Protection Program loan	`LoanForgiveness`	-	USD	Annual
Forgiveness of Paycheck Protection Program loan	`LoanForgiveness`	$10.00K	USD	Annual
Change in current operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$23.12M	USD	Annual
Change in current operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$13.95M	USD	Annual
Change in current operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$24.94M	USD	Annual
Net cash (used for) from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.35M	USD	Annual
Net cash (used for) from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.21M	USD	Annual
Net cash (used for) from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.02M	USD	Annual
Purchase of investments	`PaymentsToAcquireInvestments`	$404.33K	USD	Annual
Purchase of investments	`PaymentsToAcquireInvestments`	-	USD	Annual
Purchase of investments	`PaymentsToAcquireInvestments`	-	USD	Annual
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	$32.29K	USD	Annual
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	$54.90K	USD	Annual
Retirement of patronage dividends	`ProceedsFromRetirementOfPatronageDividends`	$66.21K	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$65.83K	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$41.22K	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$150.06K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.44M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.07M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.65M	USD	Annual
Net cash (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.24M	USD	Annual
Net cash (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.97M	USD	Annual
Net cash (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.95M	USD	Annual
Change in excess of outstanding checks over bank balances	`ProceedsFromRepaymentsOfBankOverdrafts`	$2.44M	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`	$98.27K	USD	Annual
Net (payments) proceeds from seasonal borrowings	`ProceedsFromPaymentsOfSeasonalBorrwings`	$-1.74M	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`	$9.43M	USD	Annual
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$15.21M	USD	Annual
Distributions to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsPaid`	$6.69M	USD	Annual
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	-	USD	Annual
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	$10.00K	USD	Annual
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	$24.00K	USD	Point-in-time
Payments for debt issue costs	`PaymentsOfDebtIssuanceCosts`	-	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$71.48M	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$36.00M	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$20.34M	USD	Annual
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$20.95M	USD	Annual
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$55.54M	USD	Annual
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$33.88M	USD	Annual
Net cash from (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.60M	USD	Annual
Net cash from (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.23M	USD	Annual
Net cash from (used for) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.74M	USD	Annual
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-6.57M	USD	Annual
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.03M	USD	Annual
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.82M	USD	Annual
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.65M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$624.68K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$833.74K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$7.20M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$3.65M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$624.68K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$833.74K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$7.20M	USD	Point-in-time
Interest	`InterestPaidNet`	$1.13M	USD	Annual
Interest	`InterestPaidNet`	$855.06K	USD	Annual
Interest	`InterestPaidNet`	$1.61M	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Soybean meal contributed as investment in related party	`DueFromRelatedPartiesSoybeanMeal`	$1.44M	USD	Annual
Soybean meal contributed as investment in related party	`DueFromRelatedPartiesSoybeanMeal`	$1.05M	USD	Annual
Soybean meal contributed as investment in related party	`DueFromRelatedPartiesSoybeanMeal`	-	USD	Annual

Stockholders Equity 4 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$28.01M	USD	Annual
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$15.58M	USD	Annual
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$10.98M	USD	Annual
Distribution to members	`DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsDeclared`	$15.21M	USD	Annual

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