Company: SDSYA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001163609-25-000023
Chunk: 12

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 12
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South Dakota Soybean Processors, LLCNotes to Condensed Consolidated Financial Statements

Note 3 -         Property and Equipment

The following is a summary of the Company's property and equipment at June 30, 2025 and December 31, 2024: 20252024 CostAccumulated DepreciationNetNetLand$516,326 $— $516,326 $516,326 Land improvements2,802,812 (1,477,686)1,325,126 1,364,197 Buildings and improvements35,351,616 (13,223,080)22,128,536 22,531,217 Machinery and equipment113,069,161 (62,207,782)50,861,379 51,949,033 Railroad cars10,411,185 (993,838)9,417,347 9,521,459 Company vehicles280,949 (154,394)126,555 143,184 Furniture and fixtures2,046,444 (1,197,332)849,112 719,557 Construction in progress392,336,286 — 392,336,286 273,036,281 Totals$556,814,779 $(79,254,112)$477,560,667 $359,781,254 Depreciation of property and equipment was $1,857,919 and $1,519,233 for the three months ended June 30, 2025 and 2024, respectively, and $3,713,850 and $3,023,367 for the six months ended June 30, 2025 and 2024, respectively . As of June 30, 2025 and December 31, 2024, respectively, the Company has approximately $14.3 million and $15.7 million respectively, in payables related to the construction of the facility in Mitchell, South Dakota. These construction payables are classified as non-current liabilities due to management's intent and ability to settle these liabilities using the Company’s long-term credit facilities.As of June 30, 2025, the Company had unpaid commitments of approximately $77.2 million for construction and acquisition of property and equipment and is scheduled to be completed by the fourth quarter of 2025.

The Company capitalized interest on major construction projects in progress of approximately $2