Granite Falls Energy, LLC

2022 Q3 Form 10-Q Financial Statement

#000110465922100012 Filed on September 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2021 Q3

Balance Sheet

Concept 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.39M $4.491M
YoY Change 821.48% -34.08%
Cash & Equivalents $41.39M $4.491M
Short-Term Investments
Other Short-Term Assets $3.690M $3.107M
YoY Change 18.76% 101.86%
Inventory $24.92M $22.67M
Prepaid Expenses
Receivables $8.165M $6.584M
Other Receivables $0.00 $0.00
Total Short-Term Assets $78.16M $36.85M
YoY Change 112.09% 76.49%
LONG-TERM ASSETS
Property, Plant & Equipment $51.77M $51.01M
YoY Change 1.5% -30.76%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $12.52M $11.04M
YoY Change 13.41% 19.12%
Other Assets $332.3K $333.3K
YoY Change -0.3% -52.2%
Total Long-Term Assets $77.83M $79.16M
YoY Change -1.68% -6.88%
TOTAL ASSETS
Total Short-Term Assets $78.16M $36.85M
Total Long-Term Assets $77.83M $79.16M
Total Assets $156.0M $116.0M
YoY Change 34.46% 9.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.69M $11.63M
YoY Change 112.35% 158.58%
Accrued Expenses $963.1K $1.028M
YoY Change -6.27% -81.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $816.6K
YoY Change -100.0% 19.09%
Long-Term Debt Due $5.100M $1.924M
YoY Change 165.06% -28.83%
Total Short-Term Liabilities $36.44M $19.61M
YoY Change 85.83% 45.75%
LONG-TERM LIABILITIES
Long-Term Debt $9.450M $6.856M
YoY Change 37.84% -37.34%
Other Long-Term Liabilities $11.09M $14.61M
YoY Change -24.09% -19.14%
Total Long-Term Liabilities $9.450M $6.856M
YoY Change 37.84% -76.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $36.44M $19.61M
Total Long-Term Liabilities $9.450M $6.856M
Total Liabilities $45.89M $26.46M
YoY Change 73.4% -50.22%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $99.01M $63.58M
YoY Change
Total Liabilities & Shareholders Equity $156.0M $116.0M
YoY Change 34.46% 9.56%

Cashflow Statement

Concept 2022 Q3 2021 Q3

Facts In Submission

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dei Entity Central Index Key
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15045 Highway 23 SE
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43572871
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6367297
us-gaap Interest Paid Net
InterestPaidNet
1042484
us-gaap Interest Paid Net
InterestPaidNet
593651
gfe Capital Expenditure And Construction In Process Included In Accounts Payable
CapitalExpenditureAndConstructionInProcessIncludedInAccountsPayable
27561
gfe Capital Expenditure And Construction In Process Included In Accounts Payable
CapitalExpenditureAndConstructionInProcessIncludedInAccountsPayable
51047
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
79500
gfe Member Distribution Payable
MemberDistributionPayable
1589400
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Accounting Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Management uses estimates and assumptions in preparing these condensed consolidated unaudited financial statements in accordance with generally accepted accounting principles in the United States of America. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. The Company uses estimates and assumptions in accounting for the following significant matters, among others: economic lives of property and equipment, valuation of commodity derivatives, inventory, and inventory purchase and sale commitments, evaluation of rail car rehabilitation costs, and the assumptions used in the impairment analysis of long-lived assets and evaluation of going concern. Actual results may differ from previously estimated amounts, and such differences may be material to our consolidated financial statements. The Company periodically reviews estimates and assumptions, and the effects of revisions are reflected in the period in which the revision is made.</p>
CY2022Q3 gfe Number Of Marketing Companies
NumberOfMarketingCompanies
2
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
3633000
CY2022Q3 gfe Amount Of Economic Relief Fund Awarded To Company
AmountOfEconomicReliefFundAwardedToCompany
14200000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
103751972
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
89258812
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
313035325
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
212697559
gfe Revenue Recognition Payment Terms
RevenueRecognitionPaymentTerms
P10D
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
3066600
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
2577600
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
1058200
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
14489200
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1288020
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
13201180
CY2022Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
12712358
CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
10742480
CY2022Q3 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
3675572
CY2021Q4 us-gaap Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
3322639
CY2022Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2763801
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
2023966
CY2022Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
5763738
CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
4660746
CY2022Q3 us-gaap Inventory Net
InventoryNet
24915469
CY2021Q4 us-gaap Inventory Net
InventoryNet
20749831
us-gaap Inventory Write Down
InventoryWriteDown
0
us-gaap Inventory Write Down
InventoryWriteDown
0
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
14550000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
32667857
CY2022Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
5100000
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
5046429
CY2022Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
9450000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
27621428
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
5100000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
5100000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
4350000
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
14550000
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0487
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
4153800
gfe Number Of Classes Of Membership Units
NumberOfClassesOfMembershipUnits
1
CY2022Q3 gfe Membership Units Par Or Stated Value Per Share
MembershipUnitsParOrStatedValuePerShare
0
CY2022Q3 us-gaap Common Unit Authorized
CommonUnitAuthorized
30606
CY2021Q4 us-gaap Common Unit Authorized
CommonUnitAuthorized
30606
CY2022Q2 us-gaap Distribution Made To Limited Liability Company Llc Member Distributions Paid Per Unit
DistributionMadeToLimitedLiabilityCompanyLLCMemberDistributionsPaidPerUnit
600.00
CY2022Q2 us-gaap Distribution Made To Limited Liability Company Llc Member Cash Distributions Declared
DistributionMadeToLimitedLiabilityCompanyLLCMemberCashDistributionsDeclared
18363600
CY2021Q4 us-gaap Distribution Made To Limited Liability Company Llc Member Distributions Paid Per Unit
DistributionMadeToLimitedLiabilityCompanyLLCMemberDistributionsPaidPerUnit
330.00
gfe Rail Car Rehabilitation Liability
RailCarRehabilitationLiability
1502000
CY2021 gfe Rail Car Rehabilitation Liability
RailCarRehabilitationLiability
1468000

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