Company: SDSYA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001163609-25-000032
Chunk: 11

Company: SOUTH DAKOTA SOYBEAN PROCESSORS LLC
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 11
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 other predetermined control transfer points (for instance, destination terms). Shipping and handling costs related to contracts with customers for the sale of goods are accounted for as a fulfillment activity and are included in the cost of revenues. Accordingly, amounts billed to customers for such costs are included as a component of revenues.

9

South Dakota Soybean Processors, LLCNotes to Condensed Consolidated Financial Statements

Contract liabilities relate to advance payments from customers for goods and services the Company has yet to provide. These customer prepayments totaled $280,936 and $10,524,222 as of September 30, 2025 and December 31, 2024, respectively. Of the $10,524,222 balance as of December 31, 2024, the Company recognized $2,118,042 and $10,515,355 as revenues for the three and nine months ended September 30, 2025, respectively. Of the $737,503 customer prepayments as of December 31, 2023, the Company recognized $60,841 and $547,131 of contract liabilities as revenues during the three and nine months ended September 30, 2024, respectively.The following table presents a disaggregation of revenue from contracts with customers for the three and nine-month periods ended September 30, 2025 and 2024, by product type:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Soybean meal and hulls$68,356,305 $68,072,836 $201,020,676 $237,158,570 Soybean oil and oil byproducts61,465,580 62,572,860 157,355,252 191,464,865 Totals$129,821,885 $130,645,696 $358,375,928 $428,623,435 Cash FlowThe Company maintains a revolving line of credit that functions as a sweep account. Borrowings and repayments occur on a daily basis to manage cash balances efficiently and minimize interest expense. The activity is presented on a net basis in the statement of cash flows due to the short-term nature and frequency of the transactions, consistent with the Company’s cash management practices.Recent accounting pronouncementsAny recent accounting pronouncements are not expected to have a material impact on our condensed financial statements.

Note 2 -           Inventories

The Company’s inventories consist of the following on September 30