Company: SDSYA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001163609-25-000023
Chunk: 26

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 26
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955)Net cash used for investing activities(123,247,693)(70,277,842)Net cash provided by financing activities128,886,639 99,227,129 

Cash Flows Provided By (Used For) Operations

The $34.9 million decrease in cash flows used for operating activities was largely due to a $13.8 million increase in inventories, a decrease in contract liabilities of approximately $8.0 million and by a decrease in net income of approximately $11.1 million. 

Cash Flows Used For Investing Activities

The $53.0 million increase in cash flows used for investing activities during the six-month period ended June 30, 2025, compared to the same period in 2024, was due to an increase in expenditures for purchases of various property and equipment used for the construction and development of the High Plains Processing plant. 

Cash Flows Provided By Financing Activities

The $29.7 million increase in cash flows provided by financing activities was principally due to a decrease in proceeds from issuance of new capital units in our consolidated entities offset by an increase in borrowings with our lender. During the six months ended June 30, 2024, our subsidiaries received $57.5 million in investment proceeds in connection with their equity financing, which were subsequently contributed for the construction and development of the High Plains Processing plant. Net proceeds from seasonal borrowings and long-term debt were $141.5 million during the six months ended June 30, 2025, compared to $88.2 million during the same period in 2024. Partially offsetting the decrease was a $31.8 million reduction in cash distributions to members during the six months ended June 30, 2025, compared to the same period in 2024.

Indebtedness

We hold various credit facilities with CoBank, our primary lender, to meet the short and long-term needs of our operations. The first credit line is a revolving long-term loan. Under this loan, we may borrow funds, as needed, up to the credit line maximum, or $65.0 million, and then pay down the principal whenever excess cash is available. Repaid amounts may be borrowed up to the available credit line. The available credit line decreases by $3.25 million every six months until the credit line’s maturity on March 20, 2030, at which time a balloon payment for the remaining balance is due. We pay a 0.40% annual commitment fee