Company: SDSYA
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001163609-25-000017
Chunk: 25

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 25
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 the operating needs of the High Plains Processing facility. Beginning July 1, 2025, our subsidiary may borrow up to $85.0 million until the loan's maturity on September 1, 2026. A 0.20% annual commitment fee is paid on any funds not borrowed; however, we have the option to reduce the credit line during any given commitment period listed in the credit agreement to avoid the commitment fee. As of March 31, 2025 and December 31, 2024, there was no principal  balance outstanding on this credit line. 

The revolving, seasonal and delayed-draw term loans with CoBank are set up with a variable rate option. The variable rate is set daily by CoBank. We also have a fixed rate option on all three loans, allowing us to fix rates for any period between one day and the entire commitment period. The annual interest rate on the loans was range between 6.56% and 7.76% as of March 31, 2025.

OFF BALANCE SHEET FINANCING ARRANGEMENTS

We do not utilize variable interest entities or other off-balance sheet financial arrangements.

Contractual Obligations

The following table shows our contractual obligations for the periods presented:

Payment due by periodCONTRACTUALOBLIGATIONSTotalLess than1 year1-3 years3-5 yearsMore than5 yearsLong-Term Debt Obligations (1)$169,656,000 $16,741,000 $109,995,000 $42,920,000 $— Operating Lease Obligations40,631,000 5,237,000 9,293,000 8,317,000 17,784,000 Totals$210,287,000 $21,978,000 $119,288,000 $51,237,000 $17,784,000 

(1)    Represents principal and interest payments on our notes payable, which are included on our Balance Sheet.

RECENT ACCOUNTING PRONOUNCEMENTS

See Note 1 of our Financial Statements under Part I, Item 1, for a discussion on the impact, if any, of the recently pronounced accounting standards.

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

There have been no material changes to our critical accounting policies and estimates from those set forth in our Annual Report on Form 10-K for the year ended December 31,