HIGHWATER ETHANOL LLC

2024 Q2 Form 10-Q Financial Statement

#000137145124000018 Filed on June 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q2

Balance Sheet

Concept 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $20.98M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $13.23M
Prepaid Expenses $533.3K
Receivables $3.251M
Other Receivables
Total Short-Term Assets $38.53M
YoY Change 9.38%
LONG-TERM ASSETS
Property, Plant & Equipment $29.62M
YoY Change -18.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.960M
YoY Change 3.33%
Other Assets $6.236M
YoY Change -8.75%
Total Long-Term Assets $35.85M
YoY Change -16.74%
TOTAL ASSETS
Total Short-Term Assets $38.53M
Total Long-Term Assets $35.85M
Total Assets $74.38M
YoY Change -4.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.970M
YoY Change 11.01%
Accrued Expenses $778.3K
YoY Change -28.98%
Deferred Revenue $479.5K
YoY Change 174.02%
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.91M
YoY Change 5.25%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $711.3K
YoY Change -18.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.91M
Total Long-Term Liabilities $711.3K
Total Liabilities $11.62M
YoY Change 3.39%
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
YoY Change
Total Liabilities & Shareholders Equity $74.38M
YoY Change -4.99%

Cashflow Statement

Concept 2024 Q2

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4757 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4757 shares
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4754 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4754 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-336.39
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-336.39
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-162.66
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-162.66
us-gaap Net Income Loss
NetIncomeLoss
-773300 usd
us-gaap Net Income Loss
NetIncomeLoss
4079805 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4881288 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5124323 usd
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
-193045 usd
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
109023 usd
us-gaap Retained Patronage Allocations
RetainedPatronageAllocations
380000 usd
us-gaap Retained Patronage Allocations
RetainedPatronageAllocations
286571 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
315796 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-726571 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-2884639 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-2280957 usd
us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
-393070 usd
us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
-538097 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-222774 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-307071 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-8837206 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-11214378 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-784395 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-425896 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2515881 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1020956 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1896528 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
481898 usd
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
104034 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
580708 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1792494 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1062606 usd
us-gaap Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
0 usd
us-gaap Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
-89000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
65060 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
61588 usd
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
16161900 usd
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
15240000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-16226960 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-15390588 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-20535335 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-15432238 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
41519800 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29790258 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20984465 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14358020 usd
us-gaap Interest Paid Net
InterestPaidNet
24338 usd
us-gaap Interest Paid Net
InterestPaidNet
27812 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
86888 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
178343 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Accounting Estimates</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management uses estimates and assumptions in preparing these financial statements in accordance with generally accepted accounting principles. 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 significant matters, among others, the carrying value of property and equipment and related impairment testing, inventory valuation, and derivative instruments. Actual results could differ from those estimates and such differences may be material to the 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.</span></div>
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32543357 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48711980 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
69779814 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
97573545 usd
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
479478 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
34599 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
0 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
27888 usd
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
846930 usd
CY2024Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
3251049 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2935253 usd
CY2024Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
4108784 usd
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
7861508 usd
CY2024Q2 us-gaap Inventory Parts And Components Net Of Reserves
InventoryPartsAndComponentsNetOfReserves
5867596 usd
CY2023Q4 us-gaap Inventory Parts And Components Net Of Reserves
InventoryPartsAndComponentsNetOfReserves
5432982 usd
CY2024Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
961121 usd
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1073564 usd
CY2024Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
2291046 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1745133 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
13228547 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
16113187 usd
us-gaap Inventory Write Down
InventoryWriteDown
18000 usd
CY2023 us-gaap Inventory Write Down
InventoryWriteDown
0 usd
CY2024Q2 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
530181 usd
CY2023Q4 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
923251 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
0 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
0 usd
highwater Debt Instrument Annual Capital Expenditure Limit
DebtInstrumentAnnualCapitalExpenditureLimit
5000000 usd
CY2024Q2 highwater Debt Instrument Covenant Working Capital Requirement
DebtInstrumentCovenantWorkingCapitalRequirement
9000000 usd
CY2024Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.055
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2M
CY2024Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P5Y6M
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
28080 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
178800 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
0 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
178800 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
0 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
178800 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
0 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
178800 usd
CY2024Q2 highwater Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
0 usd
CY2024Q2 highwater Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
89400 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
28080 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
983400 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
192 usd
CY2024Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
136470 usd
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
42120 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
84240 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
42120 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
84240 usd
CY2024Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
19009 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
34699 usd
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
11737 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
21931 usd
CY2024Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
34324 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
68647 usd
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
34324 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
68647 usd
CY2024Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
11946 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
24338 usd
CY2023Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
13695 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
27812 usd
CY2024Q2 us-gaap Lease Cost
LeaseCost
107399 usd
us-gaap Lease Cost
LeaseCost
211924 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
101876 usd
us-gaap Lease Cost
LeaseCost
202630 usd
CY2023Q4 highwater Number Of Fermentation Tank To Construct
NumberOfFermentationTankToConstruct
1 tank
CY2023Q4 highwater Construction Cost For Fermentation Tank
ConstructionCostForFermentationTank
4000000 usd

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