Company: SDSYA
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001163609-25-000017
Chunk: 15

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 15
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 were $40 million in remaining commitments available to borrow on the revolving term loan as of March 31, 2025.Under the agreements, the Company is subject to compliance with standard financial covenants and the maintenance of certain financial ratios that limits distributions.

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South Dakota Soybean Processors, LLCNotes to Condensed Consolidated Financial Statements

The following are minimum principal payments on long-term debt obligations for the twelve-month periods ending March 31:2026$6,500,000 202724,500,000 202870,750,000 202926,000,000 203014,252,312   Total$142,002,312 

Note 6 -        Operating Leases

The Company has several operating leases for railcars, machinery and equipment, and storage facilities. These leases have terms ranging from 3-12 years and most do not have renewal terms provided. The Company does not have lease arrangements with residual value guarantees, sale-leaseback terms or material restrictive covenants. The Company does not have any material finance lease obligations nor sublease agreements. Lease expense for these operating leases is recognized on a straight-line basis over the lease terms. The components of lease costs recognized within our condensed consolidated statements of operations for the three-month periods ended March 31, 2025 and 2024 were as follows:20252024Cost of revenues - Freight and rail$1,292,470 $1,071,723 Cost of revenues - Production84,148 65,709 Administration expenses6,434 4,492 Total operating lease costs$1,383,052 $1,141,924 The following summarizes the supplemental cash flow information for the three-month periods ended March 31, 2025 and 2024:20252024Cash paid for amounts included in the measurement of lease liabilities$946,860 $1,024,371 Supplemental non-cash information:Right-of-use assets obtained in exchange for lease liabilities$155,886 $831,971 The following summarizes the weighted-average remaining lease term and weighted-average discount rate as of March 31, 2025:Weighted-average remaining lease-term - operating leases (in years)9.3Weighted-average discount rate - operating leases4.8 %

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South Dakota Soybean Processors, LLCNotes to Condensed Consolidated Financial Statements

The following is a maturity analysis of the undiscounted cash flows of the operating lease liabilities