LAKE AREA CORN PROCESSORS LLC (LKCRU) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
DAKOTA ETHANOL, LLC WENTWORTH, SD 57075 |
| State of Incorp. | SD |
| Fiscal Year End | December 31 |
| Industry (SIC) | 286 - Industrial Organic Chemicals (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 27,004 | 37,995 | 18,638 | 12,824 | 1,698 | 5,103 | |||
| Cash and cash equivalents | 27,004 | 37,995 | 18,638 | 12,824 | 1,698 | 5,103 | |||
| Receivables | 1,083 | 877 | 585 | 1,576 | 1,202 | 3,187 | |||
| Inventory, net of allowances, customer advances and progress billings | 25,796 | 16,410 | 9,769 | 10,543 | 7,562 | 5,526 | |||
| Inventory | 25,796 | 16,410 | 9,769 | 10,543 | 7,562 | 5,526 | |||
| Prepaid expense | 865 | 733 | 677 | 479 | 266 | 220 | |||
| Derivative instruments and hedges, assets | 2,856 | 2,887 | 2,074 | 505 | 554 | 863 | |||
| Other undisclosed current assets | 1,851 | 1,033 | 1,634 | 27 | 39 | ||||
| Total current assets: | 59,455 | 59,935 | 33,377 | 25,928 | 11,308 | 14,937 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 63,481 | 58,052 | 61,367 | 66,707 | 63,748 | 39,969 | |||
| Long-term investments and receivables | 17,691 | 20,505 | 16,636 | 16,682 | 17,300 | 18,739 | |||
| Long-term investments | 17,691 | 20,505 | 16,636 | 16,682 | 17,300 | 18,739 | |||
| Intangible assets, net (including goodwill) | 10,396 | 10,396 | 10,396 | 10,396 | 10,396 | 10,396 | |||
| Goodwill | 10,396 | 10,396 | 10,396 | 10,396 | 10,396 | 10,396 | |||
| Other noncurrent assets | 5,383 | 65 | 81 | 97 | 113 | 31 | |||
| Total noncurrent assets: | 96,951 | 89,018 | 88,481 | 93,883 | 91,558 | 69,135 | |||
| TOTAL ASSETS: | 156,407 | 148,953 | 121,858 | 119,810 | 102,866 | 84,072 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 39,825 | 26,770 | 19,259 | 14,746 | 7,616 | 6,706 | |||
| Accounts payable | 39,106 | 25,855 | 18,526 | 13,812 | 6,850 | 6,124 | |||
| Accrued liabilities | 719 | 915 | 733 | 934 | 766 | 582 | |||
| Debt | 5,200 | 3,228 | 1,521 | 2,155 | 3,247 | 1,675 | |||
| Derivative instruments and hedges, liabilities | 435 | 1,491 | 244 | 699 | 368 | 411 | |||
| Other liabilities | 4 | 4 | 4 | 14 | |||||
| Total current liabilities: | 45,460 | 31,489 | 21,028 | 17,604 | 11,236 | 8,806 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 2,998 | 3,995 | 35,561 | 37,989 | 23,585 | 6,972 | |||
| Long-term debt, excluding current maturities | 2,998 | 3,995 | 35,561 | 37,989 | 23,585 | 6,972 | |||
| Liabilities, other than long-term debt | 4 | 8 | 12 | ||||||
| Other liabilities | 4 | 8 | 12 | ||||||
| Total noncurrent liabilities: | 2,998 | 3,995 | 35,561 | 37,993 | 23,593 | 6,984 | |||
| Total liabilities: | 48,459 | 35,484 | 56,589 | 55,597 | 34,829 | 15,790 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 107,948 | 113,469 | 65,269 | 64,213 | 68,037 | 68,283 | |||
| Other undisclosed equity, attributable to parent | 107,948 | 113,469 | 65,269 | 64,213 | 68,037 | 68,283 | |||
| Total equity: | 107,948 | 113,469 | 65,269 | 64,213 | 68,037 | 68,283 | |||
| TOTAL LIABILITIES AND EQUITY: | 156,407 | 148,953 | 121,858 | 119,810 | 102,866 | 84,072 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 282,565 | 258,990 | 130,522 | 115,987 | 74,704 | 84,822 | ||
| Cost of revenue | (255,711) | (207,276) | (124,493) | (114,687) | (68,620) | (76,254) | ||
| Gross profit: | 26,854 | 51,714 | 6,029 | 1,300 | 6,084 | 8,568 | ||
| Operating expenses | (4,955) | (5,430) | (4,418) | (4,060) | (3,838) | (3,717) | ||
| Operating income (loss): | 21,899 | 46,284 | 1,610 | (2,761) | 2,246 | 4,851 | ||
| Nonoperating income (expense) | 5,403 | 10,803 | (555) | (1,063) | 470 | 1,535 | ||
| Investment income, nonoperating | (9,944) | (2,062) | (359) | |||||
| Interest and debt expense | (91) | (727) | (1,394) | (1,183) | (2) | |||
| Income (loss) from continuing operations: | 27,211 | 56,359 | (338) | (5,008) | 2,717 | 6,383 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | 56,359 | (338) | (5,008) | 2,717 | 6,383 | ||
| Net income (loss): | 27,211 | 56,359 | (338) | (5,008) | 2,717 | 6,383 | ||
| Other undisclosed net income attributable to parent | 91 | 727 | 1,394 | 1,183 | 2 | |||
| Net income (loss) available to common stockholders, diluted: | 27,302 | 57,086 | 1,056 | (3,824) | 2,717 | 6,385 | ||
Comprehensive Income ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 27,211 | 56,359 | (338) | (5,008) | 2,717 | 6,383 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 27,211 | 56,359 | (338) | (5,008) | 2,717 | 6,383 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.