SOUTH DAKOTA SOYBEAN PROCESSORS LLC
For the period ended Dec 31, 2023. Filed Mar 22, 2024.
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FY2023 · Filed Mar 22, 2024
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Item 6. Selected Financial Data
The following table sets forth selected financial data of South Dakota Soybean Processors, LLC for the periods indicated. The financial statements included in Item 8 of this report were audited by Eide Bailly LLP.
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Bushels processed | 34,465,628 | 34,465,628 | 34,876,323 | 34,306,674 | 33,045,418 |
| Statement of Operations Data: | |||||
| Revenues | $703,148,409 | $721,532,329 | $590,150,153 | $415,025,765 | $371,275,766 |
| Costs & expenses: | |||||
| Cost of goods sold | (624,732,341) | (648,116,685) | (556,675,807) | (395,772,460) | (356,475,930) |
| Operating expenses | (6,487,573) | (5,669,426) | (4,590,227) | (3,819,645) | (3,624,306) |
| Operating profit (loss) | 71,928,495 | 67,746,218 | 28,884,119 | 15,433,660 | 11,175,530 |
| Non-operating income (loss) | 2,018,285 | 1,922,642 | 758,163 | 1,239,018 | 723,812 |
| Interest expense | (2,837,555) | (2,204,759) | (1,634,367) | (1,090,951) | (919,157) |
| Income tax benefit (expense) | — | — | — | — | (600) |
| Net income | 71,109,225 | 67,464,101 | 28,007,915 | 15,581,727 | 10,979,585 |
| Net income attributed to non-controlling interests in consolidated entity | 659,647 | — | — | — | — |
| Net income (loss) | $70,449,578 | $67,464,101 | $28,007,915 | $15,581,727 | $10,979,585 |
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Weighted average capital units outstanding | 30,411,500 | 30,411,500 | 30,419,000 | 30,419,000 | 30,419,000 |
| Net income (loss) per capital unit | $2.317 | $2.218 | $0.921 | $0.512 | $0.361 |
| Balance Sheet Data: | |||||
| Working capital | $100,176,364 | $76,001,793 | $37,448,081 | $31,391,916 | $21,322,260 |
| Net property, plant & equipment | 174,927,830 | 74,559,969 | 72,532,608 | 64,231,194 | 64,517,204 |
| Total assets | 424,740,920 | 311,196,770 | 245,286,123 | 225,823,047 | 158,104,992 |
| Long-term obligations | 22,881,979 | 26,110,157 | 20,122,452 | 23,613,702 | 15,307,727 |
| Members’ equity | 197,494,454 | 163,538,676 | 113,414,905 | 94,836,880 | 85,947,333 |
| Other Data: | |||||
| Capital expenditures | $106,644,436 | $7,754,541 | $13,442,955 | $4,652,368 | $10,066,719 |
| Distributions to members | $36,493,800 | $17,338,830 | $9,429,890 | $6,692,180 | $15,209,500 |
| Distributions to members per capital unit | $1.200 | $0.570 | $0.310 | $0.220 | $0.500 |
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