Property and Equipment

6 Months Ended

Jun. 30, 2025

Property, Plant and Equipment [Abstract]

The following is a summary of the Company's property and equipment at June 30, 2025 and December 31, 2024:


	2025						2024
	Cost		Accumulated Depreciation		Net		Net
Land	$	516,326	$	—	$	516,326	$	516,326
Land improvements	2,802,812		(1,477,686)		1,325,126		1,364,197
Buildings and improvements	35,351,616		(13,223,080)		22,128,536		22,531,217
Machinery and equipment	113,069,161		(62,207,782)		50,861,379		51,949,033
Railroad cars	10,411,185		(993,838)		9,417,347		9,521,459
Company vehicles	280,949		(154,394)		126,555		143,184
Furniture and fixtures	2,046,444		(1,197,332)		849,112		719,557
Construction in progress	392,336,286		—		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 $2,310,000 and $0, for the three months ended June 30, 2025 and 2024, respectively, and $3,440,000 and $0 the six months ended June 30, 2025 and 2024, respectivel

SOUTH DAKOTA SOYBEAN PROCESSORS LLC 10-Q