Lake Area Corn Processors (LKCRU) 10-K 9 Mar 23 2022 FY Annual report Financial data

Cover Page Document

Cover Page Document - USD ($)	12 Months Ended
	Dec. 31, 2022	Mar. 09, 2023
Document and Entity Information [Abstract]
Document Type	10-K
Document Period End Date	Dec. 31, 2022
Entity File Number	000-50254
Entity Registrant Name	LAKE AREA CORN PROCESSORS, LLC
Entity Incorporation, State or Country Code	SD
Entity Tax Identification Number	46-0460790
Entity Address, Address Line One	46269 SD Highway 34
Entity Address, Address Line Two	P.O. Box 100
Entity Address, City or Town	Wentworth
Entity Address, State or Province	SD
Entity Address, Postal Zip Code	57057
City Area Code	605
Local Phone Number	483-2676
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float	$ 14,188,125
Entity Common Stock, Shares Outstanding		29,620,000
Entity Central Index Key	0001156174
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Document Annual Report	true
Document Transition Report	false
Amendment Flag	false
Auditor Name	RSM US LLP
Auditor Location	Sioux Falls, South Dakota
Auditor Firm ID	49

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash and cash equivalents	$ 27,004,205	$ 37,995,310
Accounts receivable	1,083,258	876,949
Due from Related Parties	1,850,646	1,032,541
Inventory	25,795,711	16,410,437
Derivative financial instruments	2,856,439	2,886,831
Prepaid expenses	864,810	733,189
Total current assets	59,455,069	59,935,257
PROPERTY AND EQUIPMENT
Land	874,473	874,473
Land improvements	8,763,023	8,738,063
Buildings	9,316,576	9,316,576
Equipment	108,125,289	96,159,927
Construction in progress	13,366	1,669,148
Gross Property and Equipment	127,092,727	116,758,187
Less accumulated depreciation	(63,611,356)	(58,706,491)
Net property and equipment	63,481,371	58,051,696
OTHER ASSETS
Goodwill	10,395,766	10,395,766
Investments	17,691,011	20,504,842
Other	5,383,310	65,302
Total other assets	33,470,087	30,965,910
TOTAL ASSETS	156,406,527	148,952,863
CURRENT LIABILITIES
Outstanding checks in excess of bank balance	4,200,281	2,228,284
Accounts payable	39,105,845	25,855,071
Accrued liabilities	719,113	914,994
Derivative financial instruments	435,053	1,490,510
Current portion of notes payable	1,000,000	1,000,000
Total current liabilities	45,460,292	31,488,859
LONG-TERM LIABILITIES
Notes payable	2,998,229	3,995,139
Total long-term liabilities	2,998,229	3,995,139
COMMITMENTS AND CONTINGENCIES (Note 10)
Stockholders' Equity Attributable to Parent	107,948,006	113,468,865
TOTAL LIABILITIES AND MEMBERS' EQUITY	$ 156,406,527	$ 148,952,863
Distribution Made to Limited Liability Company (LLC) Member, Distributions Declared, Per Unit	$ 1.11	$ 0.30

Consolidated Balance Sheets Par

Consolidated Balance Sheets Parenthetical	Dec. 31, 2022 shares
Consolidated Balance Sheets Parenthetical [Abstract]
Common Unit, Issued	29,620,000
Common Unit, Outstanding	29,620,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Consolidated Statements of Operations [Abstract]
REVENUES	$ 282,564,697	$ 258,989,603	$ 130,521,814
COSTS OF REVENUES	255,710,981	207,275,615	124,493,268
GROSS PROFIT	26,853,716	51,713,988	6,028,546
OPERATING EXPENSES	4,954,621	5,430,294	4,418,074
INCOME FROM OPERATIONS	21,899,095	46,283,694	1,610,472
OTHER INCOME (EXPENSE)
Interest and other income	1,789,976	1,360,438	495,474
Equity in net income of investments	3,703,767	10,169,606	343,728
Interest expense	(90,881)	(727,452)	(1,394,035)
Total other income (expense)	5,402,862	10,802,592	(554,833)
NET INCOME	27,301,957	57,086,286	1,055,639
Net Income (Loss) Available to Common Stockholders, Diluted	0.92	1.93	0.04
Net Income (Loss) Available to Common Stockholders, Basic	$ 0.92	$ 1.93	$ 0.04
Weighted Average Number of Shares Outstanding, Diluted	29,620,000	29,620,000	29,620,000
Weighted Average Number of Shares Outstanding, Basic	29,620,000	29,620,000	29,620,000
Distribution Made to Limited Liability Company (LLC) Member, Distributions Declared, Per Unit	$ 1.11	$ 0.30	$ 0

Consolidated Statement of Chang

Consolidated Statement of Changes in Members' Equity	USD ($)
Beginning balance at Dec. 31, 2019	$ 64,212,940
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	1,055,639
Distributions	0
Ending balance at Dec. 31, 2020	65,268,579
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	57,086,286
Distributions	(8,886,000)
Ending balance at Dec. 31, 2021	113,468,865
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	27,301,957
Distributions	(32,822,816)
Ending balance at Dec. 31, 2022	$ 107,948,006

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
OPERATING ACTIVITIES
Net income	$ 27,301,957	$ 57,086,286	$ 1,055,639
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	5,060,975	5,396,440	5,718,454
Distributions in excess of earnings (earnings in excess of distributions) from investments	3,301,233	(3,544,606)	45,803
Gain (Loss) on Extinguishment of Debt	0	768,400	0
Gain (Loss) on Extinguishment of Debt, EIDL	0	10,000	0
Gain (Loss) on Disposition of Property Plant Equipment	75,558	0	0
(Increase) decrease in
Accounts receivable	(1,024,414)	309,324	(642,721)
Inventory	(9,385,274)	(6,641,522)	774,506
Prepaid expenses	(131,621)	(55,718)	(198,049)
Derivative financial instruments	(1,025,065)	433,509	(2,023,655)
Accounts payable	12,646,359	7,328,901	4,713,782
Accrued and other liabilities	(195,881)	186,450	(205,124)
NET CASH PROVIDED BY OPERATING ACTIVITIES	36,623,827	59,720,664	9,238,635
Natural gas transportation payment	(5,334,000)	0	0
INVESTING ACTIVITIES
Purchase of property and equipment	(9,943,710)	(2,061,972)	(359,221)
Purchase of investments	(487,403)	(323,869)	0
NET CASH USED IN INVESTING ACTIVITIES	(15,765,113)	(2,385,841)	(359,221)
FINANCING ACTIVITIES
Increase (decrease) in outstanding checks in excess of bank balance	1,971,997	1,908,676	(835,656)
Borrowings on notes payable	13,498,000	21,000,000	60,770,400
Payments on notes payable	14,497,000	52,000,000	63,000,000
Distributions paid to members	(32,822,816)	(8,886,000)	0
NET CASH USED IN FINANCING ACTIVITIES	(31,849,819)	(37,977,324)	(3,065,256)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(10,991,105)	19,357,499	5,814,158
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	37,995,310	18,637,811	12,823,653
CASH AND CASH EQUIVALENTS AT END OF PERIOD	27,004,205	37,995,310	18,637,811
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during the period for interest, net of capitalized interest of $158,636; $6,339; and $148 in 2022, 2021 and 2020, respectively	83,173	943,736	1,510,468
Capital expenditures in accounts payable	$ 604,417	$ 0	$ 0

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows Parenthetical - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statements of Cash Flows [Abstract]
Capitalized interest	$ 158,636	$ 6,339	$ 148

Nature of Operations

Nature of Operations	12 Months Ended
	Dec. 31, 2022
Nature of Operations [Abstract]
Nature of Operations	NATURE OF OPERATIONS Principal Business Activity Lake Area Corn Processors, LLC and subsidiary (the Company) is a South Dakota limited liability company. The Company owns and manages Dakota Ethanol, LLC (Dakota Ethanol), a 92 million-gallon (annual nameplate capacity) ethanol plant located near Wentworth, South Dakota. Dakota Ethanol sells ethanol and related products to customers located in North America. In addition, the Company has investment interests in five companies in related industries. See note 5 for further details.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The consolidated financial statements of the Company include the accounts of its wholly owned subsidiary, Dakota Ethanol. All significant inter-company transactions and balances have been eliminated in consolidation. Revenue Recognition ASC Topic 606, Revenue from Contracts with Customers requires the Company to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance requires the Company to apply the following steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the Company satisfies a performance obligation. The Company generally recognizes revenue at a point in time. The Company's contracts with customers have one performance obligation and a contract duration of one year or less. The following is a description of principal activities from which we generate revenue. Revenues from contracts with customers are recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. Generally, ethanol and related products are shipped FOB shipping point and control of the goods transfers to customers when the goods are loaded into trucks or when rail cars are shipped. Consideration is based on predetermined contractual prices or on current market prices. • Sales of Ethanol • Sales of Distillers Grains • Sales of Distillers Corn Oil Disaggregation of Revenue: All revenue recognized in the statement of operations is considered to be revenue from contracts with customers. The following table depicts the disaggregation of revenue according to product line: 2022 2021 2020 Revenues ethanol $ 209,428,369 $ 203,540,577 $ 99,077,363 Revenues distillers grains 53,136,441 41,168,903 25,519,999 Revenues distillers corn oil 19,999,887 14,280,123 5,924,452 $ 282,564,697 $ 258,989,603 $ 130,521,814 Contract Assets and Contract Liabilities: The Company receives payments from customers based upon contractual billing schedules; accounts receivable are recorded when the right to consideration becomes unconditional. Contract liabilities include payments received in advance of performance under the contract, and are realized with the associated revenue recognized under the contract. The Company has no significant contract assets or contract liabilities from contracts with customers at December 31, 2022 and 2021. Shipping Costs Shipping costs incurred by the Company in the sale of ethanol, dried distiller's grains and corn oil are not specifically identifiable and as a result, revenue from the sale of those products is recorded based on the net selling price reported to the Company from the marketer. When the Company performs shipping and handling activities after the transfer of control to the customers (e.g., when control transfers prior to delivery), they are considered as fulfillment activities, and accordingly, the costs are accrued for when the related revenue is recognized. Cost of Revenues The primary raw materials we use to produce ethanol, distillers grains and corn oil are corn and natural gas. Electricity, raw materials expense (chemicals and denaturant), direct labor costs, and shipping costs on modified and wet distiller's grains are included in cost of revenues. Inventory Valuation Inventories are generally valued using methods which approximate the lower of cost (first-in, first-out) or net realizable value. In the valuation of inventories, net realizable value is based on estimated selling prices in the ordinary course of business less reasonably predictable costs of completion, disposal and transportation. Cash and Cash Equivalents Cash and cash equivalents consist of demand accounts and other accounts with original maturities of three months or less that provide withdrawal privileges. Receivables and Credit Policies Accounts receivable are uncollateralized customer obligations due under normal trade terms requiring payment within fifteen days from the invoice date. Unpaid accounts receivable with invoice dates over thirty days old bear interest at 1.5% per month. Accounts receivable are stated at the amount billed to the customer. Payments of accounts receivable are allocated to the specific invoices identified on the customer's remittance advice or, if unspecified, are applied to the earliest unpaid invoices. The carrying amount of trade receivables is reduced by a valuation allowance that reflects management's best estimate of the amounts that will not be collected. Management regularly reviews trade receivable balances and based on an assessment of current creditworthiness, estimates the portion, if any, of the balance that will not be collected. The valuation allowance was $0 as of December 31, 2022 and 2021. Investment in commodities contracts, derivative instruments and hedging activities The Company is exposed to certain risks related to our ongoing business operations. The primary risks that the Company manages by using forward contracts or derivative instruments are price risk on anticipated purchases of corn and natural gas and the sale of ethanol, distillers grains and distillers corn oil. The Company is subject to market risk with respect to the price and availability of corn, the principal raw material the Company uses to produce ethanol and ethanol by-products. In general, rising corn prices result in lower profit margins and, therefore, represent unfavorable market conditions. This is especially true when market conditions do not allow us to pass along increased corn costs to our customers. The availability and price of corn is subject to wide fluctuations due to unpredictable factors such as weather conditions, farmer planting decisions, governmental policies with respect to agriculture and international trade and global demand and supply. Certain contracts that literally meet the definition of a derivative may be exempted from derivative accounting as normal purchases or normal sales. Normal purchases and normal sales are contracts that provide for the purchase or sale of something other than a financial instrument or derivative instrument that will be delivered in quantities expected to be used or sold over a reasonable period in the normal course of business. Contracts that meet the requirements of normal purchases or sales are documented as normal and exempted from the accounting and reporting requirements of derivative accounting. The Company does not apply the normal purchase and sales exemption for forward corn purchase contracts. As of December 31, 2022, the Company is committed to purchasing approximately 5.7 million bushels of corn on a forward contract basis with an average price of $6.79 per bushel. The total corn purchase contracts represent 17% of the projected annual plant corn usage. The Company has 597,000 bushels of corn inventory delivered under delayed-pricing contracts. The contracts have various pricing deadlines through August 25, 2023. The Company is subject to risk of changes in the corn market until they are priced. The Company enters into firm-price purchase commitments with natural gas suppliers under which the Company agrees to buy natural gas at a price set in advance of the actual delivery. Under these arrangements, the Company assumes the risk of a price decrease in the market price of natural gas between the time the price is fixed and the time the natural gas is delivered. At December 31, 2022, the Company is committed to purchasing approximately 1,337,000 MMBtu's of natural gas with an average price of $4.80 per MMBtu. The Company accounts for these transactions as normal purchases, and accordingly, does not mark these transactions to market. The natural gas purchases represent approximately 64% of the projected annual plant requirements. The Company enters into firm-price sales commitments with distillers grains customers under which the Company agrees to sell distillers grains at a price set in advance of the actual delivery. Under these arrangements, the Company assumes the risk of a price increase in the market price of distillers grain between the time the price is fixed and the time the distillers grains are delivered. At December 31, 2022, the Company is committed to selling approximately 48,000 dry equivalent tons of distillers grains with an average price of $246 per ton. The Company accounts for these transactions as normal sales, and accordingly, does not mark these transactions to market. The distillers grains sales represent approximately 21% of the projected annual plant production. The Company enters into firm-price sales commitments with distillers corn oil customers under which the Company agrees to sell distillers corn oil at a price set in advance of the actual delivery. Under these arrangements, the Company assumes the risk of a price increase in the market price of distillers corn oil between the time this price is fixed and the time the distillers corn oil is delivered. At December 31, 2022, the Company is committed to selling approximately 2,986,000 pounds of distillers corn oil with an average price of $0.75 per pound. The Company accounts for these transactions as normal sales, and accordingly, does not mark these transactions to market. The distillers corn oil sales represent approximately 9% of the projected annual plant production. The Company does not have any firm-priced sales commitments for ethanol as of December 31, 2022. The Company enters into short-term forward, option and futures contracts for ethanol, corn and natural gas as a means of managing exposure to changes in commodity and energy prices. All contracts of the Company are designated as non-hedge derivatives and are recorded at fair value with changes being recognized in net income, or are designated as normal purchases and normal sales and are evaluated for inherent losses. Although the contracts are considered economic hedges of specified risks, they are not designated as and accounted for as hedging instruments. As part of our trading activity, the Company uses futures and option contracts offered through regulated commodity exchanges to reduce risk of loss in the market value of inventories and purchase commitments. To reduce that risk, the Company generally takes positions using forward and futures contracts and options. Derivatives not designated as hedging instruments at December 31, 2022 and December 31, 2021 were as follows: Balance Sheet Classification December 31, 2022 December 31, 2021 Corn forward contracts in gain position $ 922,181 $ 892,509 Futures and options contracts in gain position 252,450 140,863 Futures and options contracts in loss position (395,300) (1,238,560) Total forward, futures and options contracts 779,331 (205,188) Cash held by broker 2,077,108 3,092,019 Current Assets $ 2,856,439 $ 2,886,831 Corn forward contracts in loss position Current Liabilities $ (435,053) $ (1,490,510) Futures and options contracts and cash held by broker are all with one party and the right of offset exists. Therefore, on the balance sheet, these items are netted in one balance regardless of position. Forward contracts are with multiple parties and the right of offset does not exist. Therefore, these contracts are reported at the gross amounts on the balance sheet. Realized and unrealized gains and losses related to derivative contracts related to corn and natural gas purchases are included as a component of cost of revenues and derivative contracts related to ethanol sales are included as a component of revenues in the accompanying financial statements. Statement of Operations Years Ended December 31, Classification 2022 2021 2020 Net realized and unrealized gains (losses) related to purchase contracts: Futures and options contracts Cost of Revenues $ (7,009,445) $ (10,137,035) $ (1,211,861) Forward contracts Cost of Revenues 2,019,133 6,222,026 (415,420) Investments The Company has investment interests in five companies in related industries. All of these interests are at ownership shares less than 20%. These investments are flow-through entities and are being accounted for by the equity method of accounting under which the Company's share of net income is recognized as income in the Company's statements of operations and added to the investment account. Distributions or dividends received from the investments are treated as a reduction of the investment account. The Company consistently follows the practice of recognizing the net income based on the most recent reliable data. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the fair value of derivative financial instruments, lower of cost or net realizable value accounting for inventory, and goodwill and fixed asset impairment evaluation. Concentrations of Credit Risk The Company's cash balances are maintained in bank depositories and regularly exceed federally insured limits. The Company has not experienced any losses in connection with these balances. Property and Equipment Property and equipment is stated at cost. Significant additions and betterments are capitalized, while expenditures for maintenance, repairs and minor renewals are charged to operations when incurred. Depreciation on assets placed in service is computed using the straight-line method over estimated useful lives as follows: • Land improvements 20-40 years • Equipment 5-20 years • Buildings 15-40 years Equipment relates to two general categories: mechanical equipment and administrative and maintenance equipment. Mechanical equipment generally relates to equipment for handling inventories and the production of ethanol and related products, with useful lives of 15 to 20 years, including boilers, cooling towers, grain bins, centrifuges, conveyors, fermentation tanks, pumps and drying equipment. Administrative and maintenance equipment is equipment with useful lives of 5 to 15 years, including vehicles, computer systems, security equipment, testing devices and shop equipment. The Company reviews its property and equipment for impairment whenever events indicate that the carrying amount of an asset group may not be recoverable. An impairment loss is recorded when the sum of the undiscounted future cash flows is less than the carrying amount of the asset group. An impairment loss is measured as the amount by which the carrying amount of the asset group exceeds its fair value. No indicators of impairment were identified at December 31, 2022. Goodwill Annually, as well as when an event triggering impairment may have occurred, the Company performs an impairment test on goodwill, which compares the fair value of the reporting unit with its carrying amount. An impairment charge is recognized, if necessary, for the amount by which the carrying value exceeds the fair value up to the amount of the goodwill attributed to the reporting unit. The Company performs the annual analysis on December 31 of each fiscal year. The Company determined that there was no impairment of goodwill at December 31, 2022 and 2021. Earnings Per Unit For purposes of calculating basic earnings per unit, units issued are considered outstanding on the effective date of issuance. Diluted earnings per unit are calculated by including dilutive potential equity units in the denominator. There were no dilutive equity units for the years ending December 31, 2022, 2021, and 2020. Income Taxes The Company is taxed as a limited liability company under the Internal Revenue Code. The income of the Company flows through to the members to be taxed at the member level rather than the corporate level. Accordingly, the Company has no tax liability. Management has evaluated the Company's tax positions under the Financial Accounting Standards Board issued guidance on accounting for uncertainty in income taxes and concluded that the Company had taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance. Generally, the Company is no longer subject to income tax examinations by the U.S. federal, state or local authorities beyond three years for jurisdictions in which they file. Environmental Liabilities The Company's operations are subject to environmental laws and regulations adopted by various governmental authorities in the jurisdictions in which it operates. These laws require the Company to investigate and remediate the effects of the release or disposal of materials at its locations. Accordingly, the Company has adopted policies, practices and procedures in the areas of pollution control, occupational health and the production, handling, storage and use of hazardous materials to prevent material environmental or other damage, and to limit the financial liability which could result from such events. Environmental liabilities are recorded when the Company's liability is probable and the costs can be reasonably estimated. Reporting Segment Operating segments are defined as components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker or decision making group in deciding how to allocate resources and in assessing performance. The Company has determined that it has six operating segments that give rise to two reportable segments. See "Note 3 - Segments" in our Notes to Consolidated Financial Statements included elsewhere in this report for financial information about our segment reporting. Recently Issued Accounting Pronouncements There are currently no recently issued accounting pronouncements that the Company determined to be factually relevant to the understanding of the financial statements. Risks and Uncertainties The Company has certain risks and uncertainties that it will experience during volatile market conditions, which can have a severe impact on operations. The Company's revenues are derived from the sale and distribution of ethanol and distiller grains to customers primarily located in the United States. Corn for the production process is supplied to the plant primarily from local agricultural producers and from purchases on the open market. For the twelve months ended December 31, 2022, ethanol sales averaged approximately 74% of total revenues, while approximately 19% of revenues were generated from the sale of distillers grains and 7% of revenues were generated from the sale of corn oil. For the twelve months ended December 31, 2022, corn costs averaged approximately 77% of cost of goods sold. The Company's operating and financial performance is largely driven by the prices at which it sells ethanol and the net expense of corn. The price of ethanol is influenced by factors such as supply and demand, weather, government policies and programs, and unleaded gasoline and the petroleum markets. Excess ethanol supply in the market, in particular, puts downward pressure on the price of ethanol. The Company's largest cost of production is corn. The cost of corn is generally impacted by factors such as supply and demand, weather, and government policies and programs. The Company's risk management program is used to protect against the price volatility of these commodities.

Inventory

Inventory	12 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
Inventory	INVENTORY Inventory consisted of the following as of December 31, 2022 and 2021: December 31, 2022 December 31, 2021 Raw materials $ 12,397,256 $ 7,278,381 Finished goods 10,050,394 6,195,222 Work in process 1,353,715 1,779,170 Parts inventory 1,994,346 1,157,664 $ 25,795,711 $ 16,410,437

Investments

Investments	12 Months Ended
	Dec. 31, 2022
Investments [Abstract]
Investment	INVESTMENTS Dakota Ethanol has a 5% investment interest in the Company's ethanol marketer, Renewable Products Marketing Group, LLC (RPMG). The net income which is reported in the Company's income statement for RPMG is based on RPMG's September 30, 2022, 2021 and 2020 audited results. The carrying amount of the Company's investment was approximately $2,286,000 and $1,709,000 as of December 31, 2022 and 2021, respectively. Dakota Ethanol has a 10% investment interest in Lawrenceville Tanks, LLC (LT), a partnership to construct and operate an ethanol storage terminal in Georgia. The net income which is reported in the Company's income statement for LT is based on LT's December 31, 2022, 2021 and 2020 unaudited results. The carrying amount of the Company's investment was approximately $216,000 and $215,000 as of December 31, 2022 and 2021, respectively. Lake Area Corn Processors has a 10% investment interest in Guardian Hankinson, LLC (GH), a partnership to operate an ethanol plant in North Dakota. The net income which is reported in the Company's income statement for GH is based on GH's December 31, 2022, 2021 and 2020 audited results. The carrying amount of the Company's investment was approximately $1,870,000 and $5,714,000 as of December 31, 2022 and 2021, respectively. Lake Area Corn Processors has a 17% investment interest in Guardian Energy Management, LLC (GEM), a partnership to provide management services to ethanol plants. The net income which is reported in the Company's income statement for GEM is based on GEM's December 31, 2022, 2021 and 2020 unaudited interim results. The carrying amount of the Company's investment was approximately $92,000 and $90,000 as of December 31, 2022 and 2021, respectively. Lake Area Corn Processors has an 12% investment interest in Ring-neck Energy & Feed, LLC (REF), a partnership to operate an ethanol plant in South Dakota. The net income which is reported in the Company's income statement for REF is based on REF's December 31, 2022, 2021, and 2020 audited results. The carrying amount of the Company's investment was approximately $13,227,000 and $12,778,000 as of December 31, 2022 and 2021, respectively. The carrying amount of the investment exceeds the underlying equity in net assets by approximately $942,000. The excess is comprised of a basis adjustment of approximately $387,000 and capitalized interest of $555,000. The excess is amortized over 20 years. The amortization is recorded in equity in net income of investments. Condensed, combined unaudited financial information of the Company's investments in RPMG, LT, GH, GEM and REF are as follows: 12/31/2022 12/31/2021 12/31/2020 Current assets $ 376,111,612 $ 370,470,221 $ 218,336,920 Other assets 160,018,056 179,230,853 201,926,053 Current liabilities 334,797,023 308,504,144 209,538,950 Long-term liabilities 36,462,751 44,248,272 48,854,217 Members' equity 164,869,892 196,948,658 161,869,806 Revenue 739,631,019 667,121,991 340,154,906 Gross Profit 59,547,216 112,911,725 20,816,381 Net Income 37,233,984 102,549,188 2,718,232 The following table shows the condensed financial information of Guardian Energy Hankinson: 12/31/2022 12/31/2021 12/31/2020 Current assets $ 35,429,047 $ 43,793,006 $ 29,709,743 Other assets 41,806,802 54,451,233 71,133,974 Current liabilities 49,708,032 34,990,527 48,451,437 Long-term liabilities 8,829,302 6,115,092 2,568,850 Members' equity 18,698,514 57,138,620 49,823,430 Revenue 468,904,462 442,502,900 211,380,830 Gross Profit 20,899,414 68,569,989 2,664,119 Net Income 22,559,896 71,815,190 (462,681) The following table shows the condensed financial information of Ring-neck Energy & Feed; the investment in which represents greater than 10% of the Company's assets as of December 31, 2022. 12/31/2022 12/31/2021 12/31/2020 Current assets $ 46,040,175 $ 44,893,050 $ 14,651,294 Other assets 116,200,396 122,727,914 128,858,889 Current liabilities 30,950,092 23,595,688 16,314,452 Long-term liabilities 27,633,449 38,133,180 46,285,367 Member's equity 103,657,030 105,892,096 80,910,363 Revenue 253,181,487 208,356,815 114,573,587 Gross Profit 26,853,394 34,061,712 9,312,124 Net Income 9,276,276 25,195,703 769,700 The Company recorded equity in net income of approximately $3,704,000, $10,170,000 and $344,000 from our investments for the years ended December 31, 2022, 2021 and 2020 respectively. The Company received distributions of approximately $7,005,000, $6,625,000 and $390,000 for our investments for the years ended December 31, 2022, 2021 and 2020 respectively. The Company has undistributed net earnings in investees of approximately $3,648,000 and $3,108,000 as of December 31, 2022 and 2021, respectively.

Revolving Operating Note

Revolving Operating Note	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Revolving Operating Note	REVOLVING OPERATING NOTEDakota Ethanol has a revolving promissory note with Farm Credit Services of America (FCSA) in the amount up to $2,000,000 or the amount available in accordance with the borrowing base calculation, whichever is less. There is a non-use fee of 0.25% per annum on the unused portion of the $2,000,000 availability. The note is collateralized by substantially all assets of the Company. The note expires on November 1, 2023. Interest on the outstanding principal balance will accrue at 305 basis points above the Securred Overnight Financing 30-day Average Rate ("SOFR 30"). The interest rate is not subject to a floor. The rate was 6.75% at December 31, 2022. On December 31, 2022, Dakota Ethanol had $0 outstanding and $0 available to be drawn on the revolving promissory note.

Long-Term Notes Payable

Long-Term Notes Payable	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Long-Term Notes Payable	LONG-TERM NOTES PAYABLE Dakota Ethanol has a term note from FCSA in the amount of $8,000,000. Dakota Ethanol makes monthly interest payments and annual principal payments of $1,000,000. The payment on August 1, 2020 was deferred after the note was amended with FCSA and is now due on August 1, 2025. The notes matures on August 1, 2025. Interest on the outstanding principal balance will accrue at 330 basis points above the SOFR 30. The interest rate is not subject to a floor. The rate was 7.00% at December 31, 2022. On December 31, 2022, Dakota Ethanol had $4,000,000 outstanding on the note. On February 6, 2018, Dakota Ethanol executed a reducing revolving promissory note from FCSA in the amount up to $40,000,000 or the amount available in accordance with the borrowing availability under the credit agreement. Dakota Ethanol amended the note agreement with FCSA in June of 2020. Under the amendment, the available credit on the reducing revolving note was increased to $48,000,000. The amount Dakota Ethanol can borrow on the note decreases by $1,750,000 semi-annually starting on July 1, 2021 until the maximum balance reaches $32,250,000 on July 1, 2025. The note matures on January 1, 2026. Interest on the outstanding principal balance will accrue at 330 basis points above the SOFR 30. The interest rate is not subject to a floor. The rate was 7.00% at December 31, 2022. The note contains a non-use fee of 0.50% on the unused portion of the note. On December 31, 2022, Dakota Ethanol had $1,000 outstanding and $42,749,000 available to be drawn on the note. As part of the note payable agreement, Dakota Ethanol is subject to certain restrictive covenants establishing financial reporting requirements, distribution and capital expenditure limits, minimum debt service coverage ratios, net worth and working capital requirements. The note is collateralized by substantially all assets of the Company. The note payable agreement was amended in October 2021 with modifications to the requirements. The working capital covenant was increased to $13,500,000 and the net worth covenant was increased to $28,000,000. We are required to maintain a debt service coverage ratio of at least 1.25:1.00. The balance of the notes payable as of December 31, 2022 and 2021 is as follows: 2022 2021 Note Payable - FCSA $ 4,000,000 $ 5,000,000 Note Payable - Other 1,000 — Less unamortized debt issuance costs (2,771) (4,861) 3,998,229 4,995,139 Less current portion (1,000,000) (1,000,000) $ 2,998,229 $ 3,995,139 Principal maturities for the next five years are estimated as follows: Years Ending December 31, Principal 2023 $ 1,000,000 2024 1,000,000 2025 2,000,000 2026 1,000 thereafter — $ 4,001,000

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2022
Employee Benefit Plans [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANSDakota Ethanol maintains a 401(k) plan for the employees who meet the eligibility requirements set forth in the plan documents. Dakota Ethanol matches a percentage of the employees' contributed earnings. Employer contributions to the plan totaled approximately $157,000, $142,000 and $133,000 for the years ended December 31, 2022, 2021 and 2020, respectively.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
Fair Value Measurements [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The Company complies with the fair value measurements and disclosures standard which defines fair value, establishes a framework for measuring fair value, and expands disclosure for those assets and liabilities carried on the balance sheet on a fair value basis. The Company's balance sheet contains derivative financial instruments that are recorded at fair value on a recurring basis. Fair value measurements and disclosures require that assets and liabilities carried at fair value be classified and disclosed according to the process for determining fair value. There are three levels of determining fair value. Level 1 uses quoted market prices in active markets for identical assets or liabilities. Level 2 uses observable market based inputs or unobservable inputs that are corroborated by market data. Level 3 uses unobservable inputs that are not corroborated by market data. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. Derivative financial instruments . Commodity futures and options contracts are reported at fair value utilizing Level 1 inputs. For these contracts, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes and live trading levels from the CBOT and NYMEX markets. Over-the-counter commodity options contracts are reported at fair value utilizing Level 2 inputs. For these contracts, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes and live trading levels from the over-the-counter markets. Forward purchase contracts are reported at fair value utilizing Level 2 inputs. For these contracts, the Company obtains fair value measurements from local grain terminal bid values. The fair value measurements consider observable data that may include live trading bids from local elevators and processing plants which are based off the CBOT markets. The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of December 31, 2022 and 2021, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Total Level 1 Level 2 Level 3 December 31, 2022 Assets: Derivative financial instruments, futures and options contracts $ 252,450 $ 252,450 $ — $ — Forward contracts 922,181 — 922,181 — Liabilities: Derivative financial instruments, futures and options contracts $ 395,300 $ 395,300 $ — $ — Forward contracts 435,053 — 435,053 — December 31, 2021 Assets: Derivative financial instruments, futures and options contracts $ 140,863 $ 140,863 $ — $ — Forward contracts 892,509 — 892,509 — Liabilities: Derivative financial instruments, futures and options contracts $ 1,238,560 $ 1,238,560 $ — $ — Forward contracts 1,490,510 — 1,490,510 — During the years ended December 31, 2022 and 2021, the Company did not make any changes between Level 1 and Level 2 assets and liabilities. As of December 31, 2022 and 2021, the Company did not have any Level 3 assets or liabilities. Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Financial assets and financial liabilities measured at fair value on a non-recurring basis were not significant at December 31, 2022 and 2021. Disclosure requirements for fair value of financial instruments require disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis. The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring or nonrecurring basis are discussed above. The Company believes the carrying amount of cash and cash equivalents (level 1), accounts receivable (level 2), accounts payable and accruals (level 2) and short-term debt (level 2) approximates fair value. The carrying amount of long-term obligations (level 3) at December 31, 2022 of $4,001,000 had an estimated fair value of approximately $4,001,000 based on estimated interest rates for comparable debt. The carrying amount of long-term obligations at December 31, 2021 of $5,000,000 had an estimated fair value of approximately $5,000,000.

Commitments, Contingencies and

Commitments, Contingencies and Agreements	12 Months Ended
	Dec. 31, 2022
Commitments, Contingencies and Agreements [Abstract]
Commitments, Contingencies and Agreements	COMMITMENTS, CONTINGENCIES AND AGREEMENTS Dakota Ethanol has entered into contracts and agreements regarding the operation of the ethanol plant as follows: Natural Gas - The agreements provide Dakota Ethanol with transportation and distribution services for natural gas through October 2028, and is renewable annually thereafter. Fees for the services are at tariff rates approved by regulatory agencies. The agreement does not require minimum purchases of natural gas during their initial term. Electricity - The agreement provides Dakota Ethanol with electric service through June 2029. The contract automatically renews unless prior notice of cancellation is given. The agreement sets rates for energy usage based on market rates and requires a minimum charge each month during the term of the agreement. Expenses related to the agreements for the purchase of electricity and natural gas were approximately $13,897,000, $12,415,000, and $8,899,000, for the years ended December 31, 2022, 2021 and 2020, respectively. Minimum annual payments during the term of the electricity agreement are as follows: Years Ending December 31, Amount 2023 $184,800 2024 184,800 2025 184,800 2026 184,800 2027 184,800 thereafter 277,200 Ethanol Fuel Marketing Agreement - Dakota Ethanol has an agreement with RPMG (a related party, see note 11), a joint venture of ethanol producers, for the sale, marketing, billing and receipt of payment and other administrative services for all ethanol produced by the plant. The agreement continues indefinitely unless terminated under terms set forth in the agreement. Distiller's Grain Marketing Agreement - Dakota Ethanol has an agreement with RPMG (a related party, see note 11), for the marketing of all distiller's dried grains produced by the plant. The agreement continues indefinitely unless terminated under terms set forth in the agreement. Corn Oil Marketing Agreement - Dakota Ethanol has an agreement with RPMG (a related party, see note 11), for the marketing of all corn oil produced by the plant. The agreement continues indefinitely unless terminated under terms set forth in the agreement. Agreements On June 24, 2022, Dakota Ethanol, LLC, entered into the Precedent Agreement West Leg 2023 Expansion between Northern Natural Gas Company and the Dakota Ethanol (the "West Leg Agreement"). Pursuant to the West Leg Agreement, Dakota Ethanol will receive additional firm commitment natural gas transportation services. In order to secure these firm commitment natural gas transportation services, Dakota Ethanol agrees to pay Northern Natural Gas Company a contribution to the cost of constructing certain additional natural gas pipeline and storage facilities. Dakota Ethanol's contribution is estimated to be $8,890,000, of which $3,556,000 is outstanding as of December 31, 2022. The final payment of $3,556,000 is scheduled to be made on March 31, 2023. For a period of five years beginning on November 1, 2023, Dakota Ethanol is entitled to a firm natural gas commitment of 7,000 decatherms per day during the winter months (between November 1 and March 31 each year), and firm commitment of 4,340 decatherms per day during the summer months. The payments to Northern Natural Gas are included in other assets on the consolidated balance sheet. From time to time in the normal course of business, the Company can be subject to litigation based on its operations. There is no current litigation nor any litigation that is considered probable at this time.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Dakota Ethanol has a 5% interest in RPMG, and Dakota Ethanol has entered into marketing agreements for the exclusive rights to market, sell and distribute the entire ethanol, dried distiller's grains, and corn oil inventories produced by Dakota Ethanol. The marketing fees are included in net revenues. Dakota Ethanol also purchases denaturant from RPMG. Amounts due from RPMG are presented as accounts receivable (related party) on the balance sheet. Revenues and marketing fees related to the agreements are as follows: Years Ended December 31, 2022 2021 2020 Revenues ethanol $ 209,721,622 $ 203,807,925 $ 99,280,464 Revenues distillers grains 15,980,263 13,971,006 9,541,074 Revenues corn oil 20,053,909 14,330,754 5,969,230 Marketing fees ethanol $ 293,253 $ 267,348 $ 203,101 Marketing fees distillers grains 67,294 65,651 68,354 Marketing fees corn oil 54,022 50,631 44,778 Denaturant purchases 2,387,702 3,647,081 1,503,071 Amounts due to RPMG 123,573 79,909 47,073

Captive Insurance

Captive Insurance	12 Months Ended
	Dec. 31, 2022
Captive Insurance [Abstract]
Captive Insurance	CAPTIVE INSURANCEThe Company participates, along with other plants in the industry, in a group captive insurance company (Captive). The Captive insures losses related to workman's compensation, commercial property and general liability. The Captive reinsures catastrophic losses for all participants, including the Company, in excess of predetermined amounts. The Company's premiums are accrued by a charge to income for the period to which the premium relates and is remitted by the Company's insurer to the captive reinsurer. These premiums are structured such that the Company has made a prepaid collateral deposit estimated for losses related to the above coverage. The Captive insurer has estimated and collected an amount in excess of the estimated losses but less than the catastrophic loss limit insured by the Captive. The Company cannot be assessed over the amount in the collateral fund.

Quarterly Financial Reporting (

Quarterly Financial Reporting (Unaudited)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Data [Abstract]
Quarterly Financial Reporting (Unaudited)	QUARTERLY FINANCIAL REPORTING (UNAUDITED) Summary quarterly results are as follows: First Quarter Second Quarter Third Quarter Fourth Quarter Year ended December 31, 2022 Total revenues $ 64,450,894 $ 75,437,299 $ 74,210,499 $ 68,466,005 Gross profit 2,692,799 8,835,660 7,401,848 7,923,409 Income from operations 1,444,920 7,683,645 6,133,380 6,637,150 Net income 1,665,199 11,122,974 6,509,692 8,004,092 Basic and diluted earnings per unit 0.06 0.38 0.22 0.26 Year ended December 31, 2021 Total revenues $ 48,615,653 $ 64,238,127 $ 63,794,494 $ 82,341,329 Gross profit 6,957,219 9,468,054 9,041,115 26,247,600 Income from operations 5,706,085 8,191,959 7,791,872 24,593,778 Net income 6,535,530 10,058,652 8,812,557 31,679,547 Basic and diluted earnings per unit 0.22 0.34 0.30 1.07 Year ended December 31, 2020 Total revenues $ 32,456,238 $ 25,424,832 $ 33,917,787 $ 38,722,957 Gross profit (loss) (7,849,642) 5,611,925 6,046,492 2,219,771 Income (loss) from operations (9,189,480) 4,666,216 5,054,469 1,079,267 Net income (loss) (10,475,043) 4,213,375 5,810,426 1,506,881 Basic and diluted earnings (loss) per unit (0.35) 0.14 0.20 0.05

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Segment Reporting Disclosure	SEGMENTS The Company reports its financial and operating performance in two segments: (1) production, which includes the manufacture and marketing of fuel-grade ethanol and co-products of the ethanol production process and (2) ethanol producing equity method investments, which consists of the aggregation of the Company's two equity method operating segments of investment in Guardian Hankinson, LLC and investment in Ring-neck Energy & Feed, LLC. The Company discloses its other identified operating segments in an all other category, which consists of the Company's investments in RPMG, LLC, Lawrenceville Tank, LLC, and Guardian Energy Management, LLC. The Company's two reportable segments have been identified based on their unique characteristics. Our production segment is the Company's ethanol plant that is operated in a manner chosen by our chief decision making team. The ethanol producing equity method segment are aggregated operating segments investments that have exceeded the quantitative thresholds for reportable segments which have similar economic characteristics but our chief decision making team does not have input into the daily operations of those entities. The all other category is comprised of investments that fall below the quantitative thresholds for reporting segments and the Company's chief decision making team has no input into their daily operations. Production includes the core operating drivers of the Company's consolidated financial statements which consist of the production and sale of ethanol and its co-products. Ethanol producing equity method investments derive their revenues from the production and sale of ethanol and its co-products. The all other category receives its revenues from marketing fees, management fees, and storage fees. The reconciliation item is necessary due to reportable segments not being consolidated in the financial statements, but rather are reflected as equity method investments. The segments were identified using standards under ASC 280-10-50. They each engage in business activities, the operating results are reviewed by the Company’s chief operating decision maker, and discrete financial information is available for each segment. The following tables set forth certain financial data for the Company's operating segments: Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 Net Sales Production $ 282,564,697 $ 258,989,603 $ 130,521,814 Ethanol Producing Equity Method Investments 722,085,949 650,859,715 325,954,417 All Other 17,545,070 16,262,276 14,200,489 Total 1,022,195,716 926,111,594 470,676,720 Reconciliation (739,631,019) (667,121,991) (340,154,906) Consolidated $ 282,564,697 $ 258,989,603 $ 130,521,814 Gross Profit Production $ 26,853,716 $ 51,713,988 $ 6,028,546 Ethanol Producing Equity Method Investments 47,752,808 102,631,701 11,976,243 All Other 11,794,408 10,280,024 8,840,138 Total 86,400,932 164,625,713 26,844,927 Reconciliation (59,547,216) (112,911,725) (20,816,381) Consolidated $ 26,853,716 $ 51,713,988 $ 6,028,546 Net Income Production $ 27,301,957 $ 57,086,286 $ 1,055,639 Ethanol Producing Equity Method Investments 31,836,172 97,010,893 307,019 All Other 5,397,812 5,538,295 2,411,213 Total 64,535,941 159,635,474 3,773,871 Reconciliation (37,233,984) (102,549,188) (2,718,232) Consolidated $ 27,301,957 $ 57,086,286 $ 1,055,639 Interest Income Production $ 159,395 $ 13,361 $ 3,615 Ethanol Producing Equity Method Investments 99,295 39,177 21,902 All Other 2,869,090 2,135,470 2,395,057 Total 3,127,780 2,188,008 2,420,574 Reconciliation (2,968,385) (2,174,647) (2,416,959) Consolidated $ 159,395 $ 13,361 $ 3,615 Interest Expense Production $ 90,881 $ 727,452 $ 1,394,035 Ethanol Producing Equity Method Investments 3,235,797 3,293,641 4,276,226 All Other 5,705,000 3,082,000 2,469,656 Total 9,031,678 7,103,093 8,139,917 Reconciliation (8,940,797) (6,375,641) (6,745,882) Consolidated $ 90,881 $ 727,452 1,394,035 Depreciation and Amortization Production $ 5,060,975 $ 5,396,440 $ 5,718,454 Ethanol Producing Equity Method Investments 26,372,193 26,798,254 26,742,646 All Other 167,004 204,745 235,325 Total 31,600,172 32,399,439 32,696,425 Reconciliation (26,539,197) (27,002,999) (26,977,971) Consolidated $ 5,060,975 $ 5,396,440 $ 5,718,454 Expenditures for Additions to Long-lived Assets Production $ 9,943,710 $ 2,061,972 $ 359,221 Ethanol Producing Equity Method Investments 2,608,185 1,780,335 2,431,446 All Other 128,442 — 47,650 Total 12,680,337 3,842,307 2,838,317 Reconciliation (2,736,627) (1,780,335) (2,479,096) Consolidated $ 9,943,710 $ 2,061,972 $ 359,221 December 31, 2022 December 31, 2021 Total Assets Production $ 156,406,527 $ 148,952,863 Ethanol Producing Equity Method Investments 239,476,419 261,642,408 All Other 296,653,249 283,835,871 Total 692,536,195 694,431,142 Reconciliation (536,129,668) (545,478,279) Consolidated $ 156,406,527 $ 148,952,863 Equity Method Investments Production $ 17,691,011 $ 20,504,842 Ethanol Producing Equity Method Investments 5,808,086 4,125,459 All Other 214,342 209,328 Total 23,713,439 24,839,629 Reconciliation (6,022,428) (4,334,787) Consolidated $ 17,691,011 $ 20,504,842

SEC Schedule, Article 12-04, Co

SEC Schedule, Article 12-04, Condensed Financial Information of Registrant	12 Months Ended
	Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]
Condensed Financial Information of Parent Company Only Disclosure	PARENT FINANCIAL STATEMENTSThe following financial information represents the unconsolidated financial statements of Lake Area Corn Processors, LLC as of December 31, 2022 and 2021, and for the years ended December 31, 2022, 2021 and 2020. The Company's ability to receive distributions from its wholly owned subsidiary, Dakota Ethanol, LLC, is based on the terms and conditions set forth in the Fourth Amendment to its credit agreement with Farm Credit Services of America, PCA and Farm Credit Services of America, FLCA. Under the Fourth Amendment, if no event of default or potential default exists, Dakota Ethanol may make distributions in an amount up to 75% of prior year's net income, so long as the Company's working capital stays above $18,000,000 post distribution. The combined distributions for 2021 and 2022 were limited to 75% of the combined net income of 2020 and 2021. The unconsolidated balance sheet is as follows: LAKE AREA CORN PROCESSORS, LLC UNCONSOLIDATED BALANCE SHEETS December 31, 2022 December 31, 2021 ASSETS CURRENT ASSETS Cash and cash equivalents $ 114,718 $ 121,244 Accounts Receivable - Subsidiary — 2,500,000 Prepaid expenses 4,700 — Total current assets 119,418 2,621,244 OTHER ASSETS Goodwill 10,395,766 10,395,766 Investment in Dakota Ethanol 82,253,625 81,870,361 Investments - other 15,188,797 18,581,494 Total other assets 107,838,188 110,847,621 TOTAL ASSETS $ 107,957,606 $ 113,468,865 LIABILITIES AND MEMBERS' EQUITY CURRENT LIABILITIES Total current liabilities 9,600 — LONG-TERM LIABILITIES Total long-term liabilities — — MEMBERS' EQUITY (29,620,000 units issued and outstanding) 107,948,006 113,468,865 TOTAL LIABILITIES AND MEMBERS' EQUITY $ 107,957,606 $ 113,468,865 The unconsolidated statement of operation is as follows: LAKE AREA CORN PROCESSORS, LLC UNCONSOLIDATED STATEMENTS OF OPERATIONS Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 EQUITY IN NET INCOME OF CONSOLIDATED SUBSIDIARY $ 23,985,264 $ 47,366,330 $ 1,073,965 OPERATING EXPENSES 55,829 83,659 127,978 INCOME FROM OPERATIONS 23,929,435 47,282,671 945,987 OTHER INCOME (EXPENSE) Interest and other income 35,219 7,112 10,737 Equity in net income of investments 3,337,303 9,796,503 98,915 Total other income 3,372,522 9,803,615 109,652 NET INCOME $ 27,301,957 $ 57,086,286 $ 1,055,639 The unconsolidated statement of cash flows is as follows: LAKE AREA CORN PROCESSORS, LLC UNCONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 OPERATING ACTIVITIES Net income $ 27,301,957 $ 57,086,286 $ 1,055,639 Adjustments to reconcile net income to net cash provided by operating activities Distributions in excess of earnings (earnings in excess of distributions) from investments 5,892,697 (3,346,503) (98,915) Equity in (net income) of consolidated subsidiary (23,985,264) (47,366,330) (1,073,965) (Increase) decrease in Accounts receivable - subsidiary — (2,500,000) — Prepaid expenses (4,700) 24,542 (7,456) Increase (decrease) in Accounts payable 9,600 — — NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 9,214,290 3,897,995 (124,697) INVESTING ACTIVITIES Distributions received from consolidated subsidiary 23,602,000 5,050,744 100,000 Investment in consolidated subsidiary — — — Purchase of investments — — — Other investing cash inflow — — 49,729 NET CASH PROVIDED BY INVESTING ACTIVITIES 23,602,000 5,050,744 149,729 FINANCING ACTIVITIES Distributions to members (32,822,816) (8,886,000) — NET CASH USED FOR FINANCING ACTIVITIES (32,822,816) (8,886,000) — NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (6,526) 62,739 25,032 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 121,244 58,505 33,473 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 114,718 $ 121,244 $ 58,505

Accounting Policies

Accounting Policies	12 Months Ended
	Dec. 31, 2022
Summary of Significant Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements of the Company include the accounts of its wholly owned subsidiary, Dakota Ethanol. All significant inter-company transactions and balances have been eliminated in consolidation.
Revenue Recognition	Revenue Recognition ASC Topic 606, Revenue from Contracts with Customers requires the Company to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance requires the Company to apply the following steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the Company satisfies a performance obligation. The Company generally recognizes revenue at a point in time. The Company's contracts with customers have one performance obligation and a contract duration of one year or less. The following is a description of principal activities from which we generate revenue. Revenues from contracts with customers are recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. Generally, ethanol and related products are shipped FOB shipping point and control of the goods transfers to customers when the goods are loaded into trucks or when rail cars are shipped. Consideration is based on predetermined contractual prices or on current market prices. • Sales of Ethanol • Sales of Distillers Grains • Sales of Distillers Corn Oil Disaggregation of Revenue: All revenue recognized in the statement of operations is considered to be revenue from contracts with customers. The following table depicts the disaggregation of revenue according to product line: 2022 2021 2020 Revenues ethanol $ 209,428,369 $ 203,540,577 $ 99,077,363 Revenues distillers grains 53,136,441 41,168,903 25,519,999 Revenues distillers corn oil 19,999,887 14,280,123 5,924,452 $ 282,564,697 $ 258,989,603 $ 130,521,814 Contract Assets and Contract Liabilities: The Company receives payments from customers based upon contractual billing schedules; accounts receivable are recorded when the right to consideration becomes unconditional. Contract liabilities include payments received in advance of performance under the contract, and are realized with the associated revenue recognized under the contract. The Company has no significant contract assets or contract liabilities from contracts with customers at December 31, 2022 and 2021. Shipping Costs Shipping costs incurred by the Company in the sale of ethanol, dried distiller's grains and corn oil are not specifically identifiable and as a result, revenue from the sale of those products is recorded based on the net selling price reported to the Company from the marketer. When the Company performs shipping and handling activities after the transfer of control to the customers (e.g., when control transfers prior to delivery), they are considered as fulfillment activities, and accordingly, the costs are accrued for when the related revenue is recognized. Cost of Revenues The primary raw materials we use to produce ethanol, distillers grains and corn oil are corn and natural gas. Electricity, raw materials expense (chemicals and denaturant), direct labor costs, and shipping costs on modified and wet distiller's grains are included in cost of revenues.
Inventory Valuation	Inventory Valuation Inventories are generally valued using methods which approximate the lower of cost (first-in, first-out) or net realizable value. In the valuation of inventories, net realizable value is based on estimated selling prices in the ordinary course of business less reasonably predictable costs of completion, disposal and transportation.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of demand accounts and other accounts with original maturities of three months or less that provide withdrawal privileges.
Receivables and Credit Policies	Receivables and Credit Policies Accounts receivable are uncollateralized customer obligations due under normal trade terms requiring payment within fifteen days from the invoice date. Unpaid accounts receivable with invoice dates over thirty days old bear interest at 1.5% per month. Accounts receivable are stated at the amount billed to the customer. Payments of accounts receivable are allocated to the specific invoices identified on the customer's remittance advice or, if unspecified, are applied to the earliest unpaid invoices. The carrying amount of trade receivables is reduced by a valuation allowance that reflects management's best estimate of the amounts that will not be collected. Management regularly reviews trade receivable balances and based on an assessment of current creditworthiness, estimates the portion, if any, of the balance that will not be collected. The valuation allowance was $0 as of December 31, 2022 and 2021.
Investment in commodities contracts, derivative instruments and hedging activities	Investment in commodities contracts, derivative instruments and hedging activities The Company is exposed to certain risks related to our ongoing business operations. The primary risks that the Company manages by using forward contracts or derivative instruments are price risk on anticipated purchases of corn and natural gas and the sale of ethanol, distillers grains and distillers corn oil. The Company is subject to market risk with respect to the price and availability of corn, the principal raw material the Company uses to produce ethanol and ethanol by-products. In general, rising corn prices result in lower profit margins and, therefore, represent unfavorable market conditions. This is especially true when market conditions do not allow us to pass along increased corn costs to our customers. The availability and price of corn is subject to wide fluctuations due to unpredictable factors such as weather conditions, farmer planting decisions, governmental policies with respect to agriculture and international trade and global demand and supply. Certain contracts that literally meet the definition of a derivative may be exempted from derivative accounting as normal purchases or normal sales. Normal purchases and normal sales are contracts that provide for the purchase or sale of something other than a financial instrument or derivative instrument that will be delivered in quantities expected to be used or sold over a reasonable period in the normal course of business. Contracts that meet the requirements of normal purchases or sales are documented as normal and exempted from the accounting and reporting requirements of derivative accounting. The Company does not apply the normal purchase and sales exemption for forward corn purchase contracts. As of December 31, 2022, the Company is committed to purchasing approximately 5.7 million bushels of corn on a forward contract basis with an average price of $6.79 per bushel. The total corn purchase contracts represent 17% of the projected annual plant corn usage. The Company has 597,000 bushels of corn inventory delivered under delayed-pricing contracts. The contracts have various pricing deadlines through August 25, 2023. The Company is subject to risk of changes in the corn market until they are priced. The Company enters into firm-price purchase commitments with natural gas suppliers under which the Company agrees to buy natural gas at a price set in advance of the actual delivery. Under these arrangements, the Company assumes the risk of a price decrease in the market price of natural gas between the time the price is fixed and the time the natural gas is delivered. At December 31, 2022, the Company is committed to purchasing approximately 1,337,000 MMBtu's of natural gas with an average price of $4.80 per MMBtu. The Company accounts for these transactions as normal purchases, and accordingly, does not mark these transactions to market. The natural gas purchases represent approximately 64% of the projected annual plant requirements. The Company enters into firm-price sales commitments with distillers grains customers under which the Company agrees to sell distillers grains at a price set in advance of the actual delivery. Under these arrangements, the Company assumes the risk of a price increase in the market price of distillers grain between the time the price is fixed and the time the distillers grains are delivered. At December 31, 2022, the Company is committed to selling approximately 48,000 dry equivalent tons of distillers grains with an average price of $246 per ton. The Company accounts for these transactions as normal sales, and accordingly, does not mark these transactions to market. The distillers grains sales represent approximately 21% of the projected annual plant production. The Company enters into firm-price sales commitments with distillers corn oil customers under which the Company agrees to sell distillers corn oil at a price set in advance of the actual delivery. Under these arrangements, the Company assumes the risk of a price increase in the market price of distillers corn oil between the time this price is fixed and the time the distillers corn oil is delivered. At December 31, 2022, the Company is committed to selling approximately 2,986,000 pounds of distillers corn oil with an average price of $0.75 per pound. The Company accounts for these transactions as normal sales, and accordingly, does not mark these transactions to market. The distillers corn oil sales represent approximately 9% of the projected annual plant production. The Company does not have any firm-priced sales commitments for ethanol as of December 31, 2022. The Company enters into short-term forward, option and futures contracts for ethanol, corn and natural gas as a means of managing exposure to changes in commodity and energy prices. All contracts of the Company are designated as non-hedge derivatives and are recorded at fair value with changes being recognized in net income, or are designated as normal purchases and normal sales and are evaluated for inherent losses. Although the contracts are considered economic hedges of specified risks, they are not designated as and accounted for as hedging instruments. As part of our trading activity, the Company uses futures and option contracts offered through regulated commodity exchanges to reduce risk of loss in the market value of inventories and purchase commitments. To reduce that risk, the Company generally takes positions using forward and futures contracts and options. Derivatives not designated as hedging instruments at December 31, 2022 and December 31, 2021 were as follows: Balance Sheet Classification December 31, 2022 December 31, 2021 Corn forward contracts in gain position $ 922,181 $ 892,509 Futures and options contracts in gain position 252,450 140,863 Futures and options contracts in loss position (395,300) (1,238,560) Total forward, futures and options contracts 779,331 (205,188) Cash held by broker 2,077,108 3,092,019 Current Assets $ 2,856,439 $ 2,886,831 Corn forward contracts in loss position Current Liabilities $ (435,053) $ (1,490,510) Futures and options contracts and cash held by broker are all with one party and the right of offset exists. Therefore, on the balance sheet, these items are netted in one balance regardless of position. Forward contracts are with multiple parties and the right of offset does not exist. Therefore, these contracts are reported at the gross amounts on the balance sheet. Realized and unrealized gains and losses related to derivative contracts related to corn and natural gas purchases are included as a component of cost of revenues and derivative contracts related to ethanol sales are included as a component of revenues in the accompanying financial statements. Statement of Operations Years Ended December 31, Classification 2022 2021 2020 Net realized and unrealized gains (losses) related to purchase contracts: Futures and options contracts Cost of Revenues $ (7,009,445) $ (10,137,035) $ (1,211,861) Forward contracts Cost of Revenues 2,019,133 6,222,026 (415,420)
Investments	Investments The Company has investment interests in five companies in related industries. All of these interests are at ownership shares less than 20%. These investments are flow-through entities and are being accounted for by the equity method of accounting under which the Company's share of net income is recognized as income in the Company's statements of operations and added to the investment account. Distributions or dividends received from the investments are treated as a reduction of the investment account. The Company consistently follows the practice of recognizing the net income based on the most recent reliable data.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include the fair value of derivative financial instruments, lower of cost or net realizable value accounting for inventory, and goodwill and fixed asset impairment evaluation.
Concentrations of Credit Risk	Concentrations of Credit RiskThe Company's cash balances are maintained in bank depositories and regularly exceed federally insured limits. The Company has not experienced any losses in connection with these balances.
Property and Equipment	Property and Equipment Property and equipment is stated at cost. Significant additions and betterments are capitalized, while expenditures for maintenance, repairs and minor renewals are charged to operations when incurred. Depreciation on assets placed in service is computed using the straight-line method over estimated useful lives as follows: • Land improvements 20-40 years • Equipment 5-20 years • Buildings 15-40 years Equipment relates to two general categories: mechanical equipment and administrative and maintenance equipment. Mechanical equipment generally relates to equipment for handling inventories and the production of ethanol and related products, with useful lives of 15 to 20 years, including boilers, cooling towers, grain bins, centrifuges, conveyors, fermentation tanks, pumps and drying equipment. Administrative and maintenance equipment is equipment with useful lives of 5 to 15 years, including vehicles, computer systems, security equipment, testing devices and shop equipment. The Company reviews its property and equipment for impairment whenever events indicate that the carrying amount of an asset group may not be recoverable. An impairment loss is recorded when the sum of the undiscounted future cash flows is less than the carrying amount of the asset group. An impairment loss is measured as the amount by which the carrying amount of the asset group exceeds its fair value. No indicators of impairment were identified at December 31, 2022.
Goodwill	Goodwill Annually, as well as when an event triggering impairment may have occurred, the Company performs an impairment test on goodwill, which compares the fair value of the reporting unit with its carrying amount. An impairment charge is recognized, if necessary, for the amount by which the carrying value exceeds the fair value up to the amount of the goodwill attributed to the reporting unit. The Company performs the annual analysis on December 31 of each fiscal year. The Company determined that there was no impairment of goodwill at December 31, 2022 and 2021.
Earnings Per Unit	Earnings Per Unit For purposes of calculating basic earnings per unit, units issued are considered outstanding on the effective date of issuance. Diluted earnings per unit are calculated by including dilutive potential equity units in the denominator. There were no dilutive equity units for the years ending December 31, 2022, 2021, and 2020.
Income Taxes	Income Taxes The Company is taxed as a limited liability company under the Internal Revenue Code. The income of the Company flows through to the members to be taxed at the member level rather than the corporate level. Accordingly, the Company has no tax liability. Management has evaluated the Company's tax positions under the Financial Accounting Standards Board issued guidance on accounting for uncertainty in income taxes and concluded that the Company had taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance. Generally, the Company is no longer subject to income tax examinations by the U.S. federal, state or local authorities beyond three years for jurisdictions in which they file.
Environmental Liabilities	Environmental Liabilities The Company's operations are subject to environmental laws and regulations adopted by various governmental authorities in the jurisdictions in which it operates. These laws require the Company to investigate and remediate the effects of the release or disposal of materials at its locations. Accordingly, the Company has adopted policies, practices and procedures in the areas of
Operating Segment	Reporting Segment Operating segments are defined as components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker or decision making group in deciding how to allocate resources and in assessing performance. The Company has determined that it has six operating segments that give rise to two reportable segments. See "Note 3 - Segments" in our Notes to Consolidated Financial Statements included elsewhere in this report for financial information about our segment reporting.
New Accounting Pronouncements	Recently Issued Accounting Pronouncements There are currently no recently issued accounting pronouncements that the Company determined to be factually relevant to the understanding of the financial statements.
Risks and Uncertainties	Risks and Uncertainties The Company has certain risks and uncertainties that it will experience during volatile market conditions, which can have a severe impact on operations. The Company's revenues are derived from the sale and distribution of ethanol and distiller grains to customers primarily located in the United States. Corn for the production process is supplied to the plant primarily from local agricultural producers and from purchases on the open market. For the twelve months ended December 31, 2022, ethanol sales averaged approximately 74% of total revenues, while approximately 19% of revenues were generated from the sale of distillers grains and 7% of revenues were generated from the sale of corn oil. For the twelve months ended December 31, 2022, corn costs averaged approximately 77% of cost of goods sold. The Company's operating and financial performance is largely driven by the prices at which it sells ethanol and the net expense of corn. The price of ethanol is influenced by factors such as supply and demand, weather, government policies and programs, and unleaded gasoline and the petroleum markets. Excess ethanol supply in the market, in particular, puts downward pressure on the price of ethanol. The Company's largest cost of production is corn. The cost of corn is generally impacted by factors such as supply and demand, weather, and government policies and programs. The Company's risk management program is used to protect against the price volatility of these commodities.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Summary of Significant Accounting Policies [Abstract]
Disaggregation of Revenue	The following table depicts the disaggregation of revenue according to product line: 2022 2021 2020 Revenues ethanol $ 209,428,369 $ 203,540,577 $ 99,077,363 Revenues distillers grains 53,136,441 41,168,903 25,519,999 Revenues distillers corn oil 19,999,887 14,280,123 5,924,452 $ 282,564,697 $ 258,989,603 $ 130,521,814
Derivatives Not Designated as Hedging Instruments	Derivatives not designated as hedging instruments at December 31, 2022 and December 31, 2021 were as follows: Balance Sheet Classification December 31, 2022 December 31, 2021 Corn forward contracts in gain position $ 922,181 $ 892,509 Futures and options contracts in gain position 252,450 140,863 Futures and options contracts in loss position (395,300) (1,238,560) Total forward, futures and options contracts 779,331 (205,188) Cash held by broker 2,077,108 3,092,019 Current Assets $ 2,856,439 $ 2,886,831 Corn forward contracts in loss position Current Liabilities $ (435,053) $ (1,490,510)
Net realized and unrealized gains (losses) related to purchase contracts	Statement of Operations Years Ended December 31, Classification 2022 2021 2020 Net realized and unrealized gains (losses) related to purchase contracts: Futures and options contracts Cost of Revenues $ (7,009,445) $ (10,137,035) $ (1,211,861) Forward contracts Cost of Revenues 2,019,133 6,222,026 (415,420)
Property, Plant and Equipment	Depreciation on assets placed in service is computed using the straight-line method over estimated useful lives as follows: • Land improvements 20-40 years • Equipment 5-20 years • Buildings 15-40 years

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2022
Investments [Abstract]
Schedule of Equity Method Investments	Condensed, combined unaudited financial information of the Company's investments in RPMG, LT, GH, GEM and REF are as follows: 12/31/2022 12/31/2021 12/31/2020 Current assets $ 376,111,612 $ 370,470,221 $ 218,336,920 Other assets 160,018,056 179,230,853 201,926,053 Current liabilities 334,797,023 308,504,144 209,538,950 Long-term liabilities 36,462,751 44,248,272 48,854,217 Members' equity 164,869,892 196,948,658 161,869,806 Revenue 739,631,019 667,121,991 340,154,906 Gross Profit 59,547,216 112,911,725 20,816,381 Net Income 37,233,984 102,549,188 2,718,232 The following table shows the condensed financial information of Guardian Energy Hankinson: 12/31/2022 12/31/2021 12/31/2020 Current assets $ 35,429,047 $ 43,793,006 $ 29,709,743 Other assets 41,806,802 54,451,233 71,133,974 Current liabilities 49,708,032 34,990,527 48,451,437 Long-term liabilities 8,829,302 6,115,092 2,568,850 Members' equity 18,698,514 57,138,620 49,823,430 Revenue 468,904,462 442,502,900 211,380,830 Gross Profit 20,899,414 68,569,989 2,664,119 Net Income 22,559,896 71,815,190 (462,681) The following table shows the condensed financial information of Ring-neck Energy & Feed; the investment in which represents greater than 10% of the Company's assets as of December 31, 2022. 12/31/2022 12/31/2021 12/31/2020 Current assets $ 46,040,175 $ 44,893,050 $ 14,651,294 Other assets 116,200,396 122,727,914 128,858,889 Current liabilities 30,950,092 23,595,688 16,314,452 Long-term liabilities 27,633,449 38,133,180 46,285,367 Member's equity 103,657,030 105,892,096 80,910,363 Revenue 253,181,487 208,356,815 114,573,587 Gross Profit 26,853,394 34,061,712 9,312,124 Net Income 9,276,276 25,195,703 769,700

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt	The balance of the notes payable as of December 31, 2022 and 2021 is as follows: 2022 2021 Note Payable - FCSA $ 4,000,000 $ 5,000,000 Note Payable - Other 1,000 — Less unamortized debt issuance costs (2,771) (4,861) 3,998,229 4,995,139 Less current portion (1,000,000) (1,000,000) $ 2,998,229 $ 3,995,139
Schedule of Maturities of Long-term Debt	Principal maturities for the next five years are estimated as follows: Years Ending December 31, Principal 2023 $ 1,000,000 2024 1,000,000 2025 2,000,000 2026 1,000 thereafter — $ 4,001,000

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Measurements [Abstract]
Fair Value, by Balance Sheet Grouping	The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of December 31, 2022 and 2021, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Total Level 1 Level 2 Level 3 December 31, 2022 Assets: Derivative financial instruments, futures and options contracts $ 252,450 $ 252,450 $ — $ — Forward contracts 922,181 — 922,181 — Liabilities: Derivative financial instruments, futures and options contracts $ 395,300 $ 395,300 $ — $ — Forward contracts 435,053 — 435,053 — December 31, 2021 Assets: Derivative financial instruments, futures and options contracts $ 140,863 $ 140,863 $ — $ — Forward contracts 892,509 — 892,509 — Liabilities: Derivative financial instruments, futures and options contracts $ 1,238,560 $ 1,238,560 $ — $ — Forward contracts 1,490,510 — 1,490,510 —

Commitments, Contingencies an_2

Commitments, Contingencies and Agreements (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments, Contingencies and Agreements [Abstract]
Contractual Obligation, Fiscal Year Maturity Schedule	Minimum annual payments during the term of the electricity agreement are as follows: Years Ending December 31, Amount 2023 $184,800 2024 184,800 2025 184,800 2026 184,800 2027 184,800 thereafter 277,200

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Revenues and marketing fees related to the agreements are as follows: Years Ended December 31, 2022 2021 2020 Revenues ethanol $ 209,721,622 $ 203,807,925 $ 99,280,464 Revenues distillers grains 15,980,263 13,971,006 9,541,074 Revenues corn oil 20,053,909 14,330,754 5,969,230 Marketing fees ethanol $ 293,253 $ 267,348 $ 203,101 Marketing fees distillers grains 67,294 65,651 68,354 Marketing fees corn oil 54,022 50,631 44,778 Denaturant purchases 2,387,702 3,647,081 1,503,071 Amounts due to RPMG 123,573 79,909 47,073

Quarterly Financial Reporting_2

Quarterly Financial Reporting (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Data [Abstract]
Schedule of Quarterly Financial Information	Summary quarterly results are as follows: First Quarter Second Quarter Third Quarter Fourth Quarter Year ended December 31, 2022 Total revenues $ 64,450,894 $ 75,437,299 $ 74,210,499 $ 68,466,005 Gross profit 2,692,799 8,835,660 7,401,848 7,923,409 Income from operations 1,444,920 7,683,645 6,133,380 6,637,150 Net income 1,665,199 11,122,974 6,509,692 8,004,092 Basic and diluted earnings per unit 0.06 0.38 0.22 0.26 Year ended December 31, 2021 Total revenues $ 48,615,653 $ 64,238,127 $ 63,794,494 $ 82,341,329 Gross profit 6,957,219 9,468,054 9,041,115 26,247,600 Income from operations 5,706,085 8,191,959 7,791,872 24,593,778 Net income 6,535,530 10,058,652 8,812,557 31,679,547 Basic and diluted earnings per unit 0.22 0.34 0.30 1.07 Year ended December 31, 2020 Total revenues $ 32,456,238 $ 25,424,832 $ 33,917,787 $ 38,722,957 Gross profit (loss) (7,849,642) 5,611,925 6,046,492 2,219,771 Income (loss) from operations (9,189,480) 4,666,216 5,054,469 1,079,267 Net income (loss) (10,475,043) 4,213,375 5,810,426 1,506,881 Basic and diluted earnings (loss) per unit (0.35) 0.14 0.20 0.05

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following tables set forth certain financial data for the Company's operating segments: Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 Net Sales Production $ 282,564,697 $ 258,989,603 $ 130,521,814 Ethanol Producing Equity Method Investments 722,085,949 650,859,715 325,954,417 All Other 17,545,070 16,262,276 14,200,489 Total 1,022,195,716 926,111,594 470,676,720 Reconciliation (739,631,019) (667,121,991) (340,154,906) Consolidated $ 282,564,697 $ 258,989,603 $ 130,521,814 Gross Profit Production $ 26,853,716 $ 51,713,988 $ 6,028,546 Ethanol Producing Equity Method Investments 47,752,808 102,631,701 11,976,243 All Other 11,794,408 10,280,024 8,840,138 Total 86,400,932 164,625,713 26,844,927 Reconciliation (59,547,216) (112,911,725) (20,816,381) Consolidated $ 26,853,716 $ 51,713,988 $ 6,028,546 Net Income Production $ 27,301,957 $ 57,086,286 $ 1,055,639 Ethanol Producing Equity Method Investments 31,836,172 97,010,893 307,019 All Other 5,397,812 5,538,295 2,411,213 Total 64,535,941 159,635,474 3,773,871 Reconciliation (37,233,984) (102,549,188) (2,718,232) Consolidated $ 27,301,957 $ 57,086,286 $ 1,055,639 Interest Income Production $ 159,395 $ 13,361 $ 3,615 Ethanol Producing Equity Method Investments 99,295 39,177 21,902 All Other 2,869,090 2,135,470 2,395,057 Total 3,127,780 2,188,008 2,420,574 Reconciliation (2,968,385) (2,174,647) (2,416,959) Consolidated $ 159,395 $ 13,361 $ 3,615 Interest Expense Production $ 90,881 $ 727,452 $ 1,394,035 Ethanol Producing Equity Method Investments 3,235,797 3,293,641 4,276,226 All Other 5,705,000 3,082,000 2,469,656 Total 9,031,678 7,103,093 8,139,917 Reconciliation (8,940,797) (6,375,641) (6,745,882) Consolidated $ 90,881 $ 727,452 1,394,035 Depreciation and Amortization Production $ 5,060,975 $ 5,396,440 $ 5,718,454 Ethanol Producing Equity Method Investments 26,372,193 26,798,254 26,742,646 All Other 167,004 204,745 235,325 Total 31,600,172 32,399,439 32,696,425 Reconciliation (26,539,197) (27,002,999) (26,977,971) Consolidated $ 5,060,975 $ 5,396,440 $ 5,718,454 Expenditures for Additions to Long-lived Assets Production $ 9,943,710 $ 2,061,972 $ 359,221 Ethanol Producing Equity Method Investments 2,608,185 1,780,335 2,431,446 All Other 128,442 — 47,650 Total 12,680,337 3,842,307 2,838,317 Reconciliation (2,736,627) (1,780,335) (2,479,096) Consolidated $ 9,943,710 $ 2,061,972 $ 359,221
Reconciliation of Assets from Segment to Consolidated	December 31, 2022 December 31, 2021 Total Assets Production $ 156,406,527 $ 148,952,863 Ethanol Producing Equity Method Investments 239,476,419 261,642,408 All Other 296,653,249 283,835,871 Total 692,536,195 694,431,142 Reconciliation (536,129,668) (545,478,279) Consolidated $ 156,406,527 $ 148,952,863 Equity Method Investments Production $ 17,691,011 $ 20,504,842 Ethanol Producing Equity Method Investments 5,808,086 4,125,459 All Other 214,342 209,328 Total 23,713,439 24,839,629 Reconciliation (6,022,428) (4,334,787) Consolidated $ 17,691,011 $ 20,504,842

SEC Schedule, Article 12-04, _2

SEC Schedule, Article 12-04, Condensed Financial Information of Registrant (Tables)	12 Months Ended
	Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]
Condensed Balance Sheet	The unconsolidated balance sheet is as follows: LAKE AREA CORN PROCESSORS, LLC UNCONSOLIDATED BALANCE SHEETS December 31, 2022 December 31, 2021 ASSETS CURRENT ASSETS Cash and cash equivalents $ 114,718 $ 121,244 Accounts Receivable - Subsidiary — 2,500,000 Prepaid expenses 4,700 — Total current assets 119,418 2,621,244 OTHER ASSETS Goodwill 10,395,766 10,395,766 Investment in Dakota Ethanol 82,253,625 81,870,361 Investments - other 15,188,797 18,581,494 Total other assets 107,838,188 110,847,621 TOTAL ASSETS $ 107,957,606 $ 113,468,865 LIABILITIES AND MEMBERS' EQUITY CURRENT LIABILITIES Total current liabilities 9,600 — LONG-TERM LIABILITIES Total long-term liabilities — — MEMBERS' EQUITY (29,620,000 units issued and outstanding) 107,948,006 113,468,865 TOTAL LIABILITIES AND MEMBERS' EQUITY $ 107,957,606 $ 113,468,865
Condensed Income Statement	The unconsolidated statement of operation is as follows: LAKE AREA CORN PROCESSORS, LLC UNCONSOLIDATED STATEMENTS OF OPERATIONS Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 EQUITY IN NET INCOME OF CONSOLIDATED SUBSIDIARY $ 23,985,264 $ 47,366,330 $ 1,073,965 OPERATING EXPENSES 55,829 83,659 127,978 INCOME FROM OPERATIONS 23,929,435 47,282,671 945,987 OTHER INCOME (EXPENSE) Interest and other income 35,219 7,112 10,737 Equity in net income of investments 3,337,303 9,796,503 98,915 Total other income 3,372,522 9,803,615 109,652 NET INCOME $ 27,301,957 $ 57,086,286 $ 1,055,639
Condensed Cash Flow Statement	The unconsolidated statement of cash flows is as follows: LAKE AREA CORN PROCESSORS, LLC UNCONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended Year Ended Year Ended December 31, 2022 December 31, 2021 December 31, 2020 OPERATING ACTIVITIES Net income $ 27,301,957 $ 57,086,286 $ 1,055,639 Adjustments to reconcile net income to net cash provided by operating activities Distributions in excess of earnings (earnings in excess of distributions) from investments 5,892,697 (3,346,503) (98,915) Equity in (net income) of consolidated subsidiary (23,985,264) (47,366,330) (1,073,965) (Increase) decrease in Accounts receivable - subsidiary — (2,500,000) — Prepaid expenses (4,700) 24,542 (7,456) Increase (decrease) in Accounts payable 9,600 — — NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 9,214,290 3,897,995 (124,697) INVESTING ACTIVITIES Distributions received from consolidated subsidiary 23,602,000 5,050,744 100,000 Investment in consolidated subsidiary — — — Purchase of investments — — — Other investing cash inflow — — 49,729 NET CASH PROVIDED BY INVESTING ACTIVITIES 23,602,000 5,050,744 149,729 FINANCING ACTIVITIES Distributions to members (32,822,816) (8,886,000) — NET CASH USED FOR FINANCING ACTIVITIES (32,822,816) (8,886,000) — NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (6,526) 62,739 25,032 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 121,244 58,505 33,473 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 114,718 $ 121,244 $ 58,505

Nature of Operations Nature of

Nature of Operations Nature of Operations (Details) gal in Millions	12 Months Ended
	Dec. 31, 2022 company gal
Product Information [Line Items]
Number of companies in related industries the Company has investments in | company	5
Ethanol | Product
Product Information [Line Items]
Annual production capacity | gal	92

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Disaggregation of Revenues (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 282,564,697	$ 258,989,603	$ 130,521,814
Ethanol
Disaggregation of Revenue [Line Items]
Revenues	209,428,369	203,540,577	99,077,363
Distillers Grain
Disaggregation of Revenue [Line Items]
Revenues	53,136,441	41,168,903	25,519,999
Corn Oil
Disaggregation of Revenue [Line Items]
Revenues	$ 19,999,887	$ 14,280,123	$ 5,924,452

Summary of Significant Accoun_4

Summary of Significant Accounting Policies Receivables (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies [Abstract]
Payment term	15 days
Payment term before interest is applied	30 days
Interest rate	1.50%
Valuation allowance	$ 0	$ 0
Weighted Average Number of Shares Outstanding, Diluted, Adjustment	0	0	0

Derivative Instruments - Balanc

Derivative Instruments - Balance Sheet (Details)	Dec. 31, 2022 USD ($) bu T $ / T $ / MMBTU $ / bu $ / usd_per_lb	Dec. 31, 2021 USD ($)
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Derivative financial instruments	$ 2,856,439	$ 2,886,831
Corn
Derivatives, Fair Value [Line Items]
Number of derivative instruments | bu	5,700,000
Average price per unit | $ / bu	6.79
Product usage, percentage	17%
Number of Price Risk Derivatives Held | bu	597,000
Natural Gas
Derivatives, Fair Value [Line Items]
Average price per unit | $ / MMBTU	4.80
Product usage, percentage	64%
Number of Price Risk Derivatives Held | bu	1,337,000
Distillers Grain
Derivatives, Fair Value [Line Items]
Number of derivative instruments | T	48,000
Average price per unit | $ / T	246
Product usage, percentage	21%
Distillers Corn Oil
Derivatives, Fair Value [Line Items]
Number of derivative instruments | bu	2,986,000
Average price per unit | $ / usd_per_lb	0.75
Product usage, percentage	9%
Current Assets | Not Designated as Hedging Instrument
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Derivative assets, current	$ 779,331	(205,188)
Cash held by broker	2,077,108	3,092,019
Derivative financial instruments	2,856,439	2,886,831
Current Assets | Forward Contracts | Not Designated as Hedging Instrument
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Derivative assets, current	922,181	892,509
Current Assets | Future | Not Designated as Hedging Instrument
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Derivative assets, current	252,450	140,863
Derivative liabilities, current	(395,300)	(1,238,560)
Current Liabilities | Forward Contracts | Not Designated as Hedging Instrument
Derivative Instruments Not Designated as Hedging Instruments [Abstract]
Derivative liabilities, current	$ (435,053)	$ (1,490,510)

Derivative Instruments - Income

Derivative Instruments - Income Statement (Details) - Not Designated as Hedging Instrument - Cost of Sales - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Future
Derivative Instruments, Gain (Loss) [Line Items]
Net realized and unrealized gains (losses) related to purchase contracts	$ (7,009,445)	$ (10,137,035)	$ (1,211,861)
Forward Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Net realized and unrealized gains (losses) related to purchase contracts	$ 2,019,133	$ 6,222,026	$ (415,420)

Summary Investments (Details)

Summary Investments (Details)	Dec. 31, 2022 company
Summary of Significant Accounting Policies [Abstract]
Number of companies in related industries the Company has investments in	5

Property and Equipment (Details

Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2022
Land Improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	40 years
Land Improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Building | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	40 years
Building | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years
Machinery and Equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Machinery and Equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years
Other Machinery and Equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years
Other Machinery and Equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Summary of Significant Accounting Policies [Abstract]
Impairment of goodwill	$ 0	$ 0

Summary of Significant Accoun_6

Summary of Significant Accounting Policies Risks and Uncertainties (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Concentration Risk [Line Items]
Impairment of goodwill	$ 0	$ 0
Sales Revenue, Segment | Product Concentration Risk | Ethanol
Concentration Risk [Line Items]
Concentration risk percentage	74%
Sales Revenue, Segment | Product Concentration Risk | Distillers Grain
Concentration Risk [Line Items]
Concentration risk percentage	19%
Sales Revenue, Segment | Product Concentration Risk | Corn Oil
Concentration Risk [Line Items]
Concentration risk percentage	7%
Cost of Goods, Segment | Product Concentration Risk | Corn
Concentration Risk [Line Items]
Concentration risk percentage	77%

Inventory (Details)

Inventory (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Inventory [Line Items]
Raw Materials	$ 12,397,256	$ 7,278,381
Finished Goods	10,050,394	6,195,222
Work in Process	1,353,715	1,779,170
Parts Inventory	1,994,346	1,157,664
Inventory	25,795,711	16,410,437
Inventory Write-down	$ 2,000	$ 0

Investments Investments - Narra

Investments Investments - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Investments	$ 17,691,011	$ 20,504,842
Equity in net income (loss) of investments	3,703,767	10,169,606	$ 343,728
Undistributed net earnings of investees	$ 3,648,000	3,108,000
Renewable Products Marketing Group, LLC (RPMG)
Schedule of Equity Method Investments [Line Items]
Investment interest (as a percent)	5%
Investments	$ 2,286,000	1,709,000
Lawrenceville Tanks, LLC
Schedule of Equity Method Investments [Line Items]
Investment interest (as a percent)	10%
Investments	$ 216,000	215,000
Guardian Hankinson, LLC
Schedule of Equity Method Investments [Line Items]
Investment interest (as a percent)	10%
Investments	$ 1,870,000	5,714,000
Guardian Energy Management
Schedule of Equity Method Investments [Line Items]
Investment interest (as a percent)	17%
Investments	$ 92,000	90,000
Ring-neck Energy and Feeds
Schedule of Equity Method Investments [Line Items]
Investment interest (as a percent)	12%
Investments	$ 13,227,000	12,778,000
Amortization of acquisition costs	942,000
Basis adjustment	387,000
Capitalized interest	$ 555,000
Amortization period for amortization of investment premium	20 years
Other Investments Combined
Schedule of Equity Method Investments [Line Items]
Equity in net income (loss) of investments	$ 3,704,000	10,170,000	344,000
Proceeds from Equity Method Investment, Distribution	$ 7,005,000	$ 6,625,000	$ 390,000

Investments Investments - Sched

Investments Investments - Schedule of Equity Method Investments (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Assets, Current	$ 59,455,069				$ 59,935,257								$ 59,455,069	$ 59,935,257
Liabilities, Current	45,460,292				31,488,859								45,460,292	31,488,859
Long-term Debt	3,998,229				4,995,139								3,998,229	4,995,139
REVENUES	68,466,005	$ 74,210,499	$ 75,437,299	$ 64,450,894	82,341,329	$ 63,794,494	$ 64,238,127	$ 48,615,653	$ 38,722,957	$ 33,917,787	$ 25,424,832	$ 32,456,238	282,564,697	258,989,603	$ 130,521,814
Gross profit	7,923,409	$ 7,401,848	$ 8,835,660	$ 2,692,799	26,247,600	$ 9,041,115	$ 9,468,054	$ 6,957,219	2,219,771	$ 6,046,492	$ 5,611,925	$ (7,849,642)	26,853,716	51,713,988	6,028,546
Equity in net income of investments													3,703,767	10,169,606	343,728
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Assets, Current	376,111,612				370,470,221								376,111,612	370,470,221		$ 218,336,920
Other Assets	160,018,056				179,230,853								160,018,056	179,230,853		201,926,053
Liabilities, Current	334,797,023				308,504,144								334,797,023	308,504,144		209,538,950
Long-term Debt	36,462,751				44,248,272								36,462,751	44,248,272		48,854,217
Members' Equity	164,869,892				196,948,658								164,869,892	196,948,658		$ 161,869,806
REVENUES													739,631,019	667,121,991	340,154,906
Gross profit													59,547,216	112,911,725	20,816,381
Equity in net income of investments													37,233,984	102,549,188	2,718,232
Guardian Hankinson, LLC
Schedule of Equity Method Investments [Line Items]
Assets, Current	35,429,047				43,793,006				29,709,743				35,429,047	43,793,006	29,709,743
Other Assets	41,806,802				54,451,233				71,133,974				41,806,802	54,451,233	71,133,974
Liabilities, Current	49,708,032				34,990,527				48,451,437				49,708,032	34,990,527	48,451,437
Long-term Debt	8,829,302				6,115,092				2,568,850				8,829,302	6,115,092	2,568,850
Members' Equity	18,698,514				57,138,620				49,823,430				18,698,514	57,138,620	49,823,430
REVENUES													468,904,462	442,502,900	211,380,830
Gross profit													20,899,414	68,569,989	2,664,119
Equity in net income of investments													22,559,896	71,815,190	(462,681)
Ring-neck Energy and Feeds
Schedule of Equity Method Investments [Line Items]
Assets, Current	46,040,175				44,893,050				14,651,294				46,040,175	44,893,050	14,651,294
Other Assets	116,200,396				122,727,914				128,858,889				116,200,396	122,727,914	128,858,889
Liabilities, Current	30,950,092				23,595,688				16,314,452				30,950,092	23,595,688	16,314,452
Long-term Debt	27,633,449				38,133,180				46,285,367				27,633,449	38,133,180	46,285,367
Members' Equity	$ 103,657,030				$ 105,892,096				$ 80,910,363				103,657,030	105,892,096	80,910,363
REVENUES													253,181,487	208,356,815	114,573,587
Gross profit													26,853,394	34,061,712	9,312,124
Equity in net income of investments													$ 9,276,276	$ 25,195,703	$ 769,700
Renewable Products Marketing Group, LLC (RPMG)
Schedule of Equity Method Investments [Line Items]
Investment interest	5%												5%
Ring-neck Energy and Feeds
Schedule of Equity Method Investments [Line Items]
Investment interest	12%												12%
Percentage of income from equity method investment													1,000%
Guardian Hankinson, LLC
Schedule of Equity Method Investments [Line Items]
Investment interest	10%												10%

Revolving Operating Note (Detai

Revolving Operating Note (Details) - Line of Credit - Farm Credit Services of America	12 Months Ended
	Dec. 31, 2022 USD ($)
Short-term Debt [Line Items]
Maximum borrowing capacity	$ 2,000,000
Non-use fee	0.25%
Reducing revolving promissory note (up to)	$ 2,000,000
Basis points	3.05%
Amount outstanding	$ 0
Amount available to be drawn	$ 0
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Short-term Debt [Line Items]
Line of Credit Facility, Interest Rate Description	Securred Overnight Financing 30-day Average Rate ("SOFR 30")

Debt (Details)

Debt (Details) - USD ($)		12 Months Ended
	Feb. 06, 2018	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Aug. 01, 2017
Debt Instrument [Line Items]
Notes Payable		$ 1,000	$ 0
Gain (Loss) on Extinguishment of Debt		0	$ (768,400)	$ 0
Farm Credit Services of America | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Amount of term note		$ 30
Medium-term Notes | Farm Credit Services of America
Debt Instrument [Line Items]
Amount of term note					$ 8,000,000
Annual principal payments					$ 1,000,000
Basis points		3.30%
Interest rate		7%
Amount outstanding		$ 4,000,000
Revolving Credit Facility | Farm Credit Services of America
Debt Instrument [Line Items]
Basis points		3.30%
Interest rate		7%
Reducing revolving promissory note (up to)	$ 40,000,000	$ 48,000,000
Periodic decrease in line of credit availability	1,750,000
Maximum borrowing capacity	$ 32,250,000
Non-use fee		0.50%
Amount outstanding		$ 1,000
Amount available to be drawn		$ 42,749,000
Debt Instrument, Covenant Description		13,500,000
Revolving Credit Facility | Farm Credit Services of America | Net Worth Ratio
Debt Instrument [Line Items]
Debt Instrument, Covenant Description		28,000,000
Revolving Credit Facility | Farm Credit Services of America | Debt Service Coverage Ratio
Debt Instrument [Line Items]
Debt Instrument, Covenant Description		1.25

Schedule of Long-Term Notes Pay

Schedule of Long-Term Notes Payable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Feb. 06, 2018
Debt Instrument [Line Items]
Note Payable - FCSA	$ 4,001,000
Notes Payable	1,000	$ 0
Unamortized Debt Issuance Expense	(2,771)	(4,861)
Long-term Debt	3,998,229	4,995,139
Long-term Debt, Current Maturities	(1,000,000)	(1,000,000)
Notes payable	2,998,229	3,995,139
Farm Credit Services of America | Line of Credit
Debt Instrument [Line Items]
Reducing revolving promissory note (up to)	$ 2,000,000
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Farm Credit Services of America | Line of Credit
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate Description	Securred Overnight Financing 30-day Average Rate ("SOFR 30")
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Farm Credit Services of America | Medium-term Notes
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate Description	the SOFR 30
Farm Credit Services of America
Debt Instrument [Line Items]
Note Payable - FCSA	$ 4,000,000	$ 5,000,000
Revolving Credit Facility | Farm Credit Services of America
Debt Instrument [Line Items]
Reducing revolving promissory note (up to)	$ 48,000,000		$ 40,000,000

Principal Maturities of Long-Te

Principal Maturities of Long-Term Notes Payable (Details)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
2019	$ 1,000,000
2020	1,000,000
2021	2,000,000
2022	1,000
thereafter	0
Note Payable - FCSA	$ 4,001,000

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee Benefit Plans [Abstract]
Employer contributions	$ 157,000	$ 142,000	$ 133,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amount of long-term obligations	$ 4,001,000
Fair Value, Measurements, Recurring | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amount of long-term obligations	4,001,000	$ 5,000,000
Estimated fair value of long-term obligations	4,001,000	5,000,000
Future | Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	252,450	140,863
Liabilities	395,300	1,238,560
Future | Fair Value, Measurements, Recurring | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	252,450	140,863
Liabilities	395,300	1,238,560
Future | Fair Value, Measurements, Recurring | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0	0
Liabilities	0	0
Future | Fair Value, Measurements, Recurring | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0	0
Liabilities	0	0
Forward Contracts | Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	922,181	892,509
Liabilities	435,053	1,490,510
Forward Contracts | Fair Value, Measurements, Recurring | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0	0
Liabilities	0	0
Forward Contracts | Fair Value, Measurements, Recurring | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	922,181	892,509
Liabilities	435,053	1,490,510
Forward Contracts | Fair Value, Measurements, Recurring | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0	0
Liabilities	$ 0	$ 0

Commitments, Contingencies an_3

Commitments, Contingencies and Agreements (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) Bcf	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Mar. 31, 2023 USD ($)
Long-term Purchase Commitment [Line Items]
Purchase Commitment, estimated total contribution	$ 8,890,000
Purchase Commitment, Remaining Minimum Amount Committed	$ 3,556,000
Electricity and Natural Gas | November - March 31
Long-term Purchase Commitment [Line Items]
Long-Term Purchase Commitment, Minimum Volume Required | Bcf	7,000
Electricity and Natural Gas | Summer Months
Long-term Purchase Commitment [Line Items]
Long-Term Purchase Commitment, Minimum Volume Required | Bcf	4,340
Subsequent Event
Long-term Purchase Commitment [Line Items]
purchase commitment, final payment				$ 3,556,000
Cost of Sales
Long-term Purchase Commitment [Line Items]
Expenses related to the agreements for the purchase of electricity and natural gas	$ 13,897,000	$ 12,415,000	$ 8,899,000

Commitments, Contingencies an_4

Commitments, Contingencies and Agreements Schedule of Minimum Contractual Obligation Due (Details) - Electricity and Natural Gas	Dec. 31, 2022 USD ($)
Long-term Purchase Commitment [Line Items]
2020	$ 184,800
2021	184,800
2022	184,800
2023	184,800
2024	184,800
thereafter	$ 277,200

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Due from Related Parties	$ 1,850,646	$ 1,032,541
Renewable Products Marketing Group, LLC (RPMG)
Related Party Transaction [Line Items]
Investment interest	5%
Amount owed to related parties	$ 123,573	79,909	$ 47,073
Purchases from related parties	1,964,000	2,139,000	1,022,000
Board of Managers Members
Related Party Transaction [Line Items]
Amount owed to related parties	0	0
Ethanol | Renewable Products Marketing Group, LLC (RPMG)
Related Party Transaction [Line Items]
Revenues	209,721,622	203,807,925	99,280,464
Marketing fees	293,253	267,348	203,101
Distillers Grain | Renewable Products Marketing Group, LLC (RPMG)
Related Party Transaction [Line Items]
Revenues	15,980,263	13,971,006	9,541,074
Marketing fees	67,294	65,651	68,354
Corn Oil | Renewable Products Marketing Group, LLC (RPMG)
Related Party Transaction [Line Items]
Revenues	20,053,909	14,330,754	5,969,230
Marketing fees	54,022	50,631	44,778
Denaturant | Renewable Products Marketing Group, LLC (RPMG)
Related Party Transaction [Line Items]
Marketing fees	$ 2,387,702	$ 3,647,081	$ 1,503,071

Quarterly Financial Reporting_3

Quarterly Financial Reporting (Unaudited) (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Quarterly Financial Data [Abstract]
Total revenues	$ 68,466,005	$ 74,210,499	$ 75,437,299	$ 64,450,894	$ 82,341,329	$ 63,794,494	$ 64,238,127	$ 48,615,653	$ 38,722,957	$ 33,917,787	$ 25,424,832	$ 32,456,238	$ 282,564,697	$ 258,989,603	$ 130,521,814
Gross profit	7,923,409	7,401,848	8,835,660	2,692,799	26,247,600	9,041,115	9,468,054	6,957,219	2,219,771	6,046,492	5,611,925	(7,849,642)	26,853,716	51,713,988	6,028,546
Income from operations	6,637,150	6,133,380	7,683,645	1,444,920	24,593,778	7,791,872	8,191,959	5,706,085	1,079,267	5,054,469	4,666,216	(9,189,480)	21,899,095	46,283,694	1,610,472
Net income	8,004,092	6,509,692	11,122,974	1,665,199	31,679,547	8,812,557	10,058,652	6,535,530	1,506,881	5,810,426	4,213,375	(10,475,043)	27,301,957	57,086,286	1,055,639
Net Income (Loss) Available to Common Stockholders, Diluted	0.26	0.22	0.38	0.06	1.07	0.30	0.34	0.22	0.05	0.20	0.14	(0.35)	0.92	1.93	0.04
Net Income (Loss) Available to Common Stockholders, Basic	$ 0.26	$ 0.22	$ 0.38	$ 0.06	$ 1.07	$ 0.30	$ 0.34	$ 0.22	$ 0.05	$ 0.20	$ 0.14	$ (0.35)	$ 0.92	$ 1.93	$ 0.04

Segment Reporting (Details)

Segment Reporting (Details)	3 Months Ended												12 Months Ended
	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2022 USD ($) company	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Segment Reporting [Abstract]
Number of Operating Segments | company													2
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUES	$ 68,466,005	$ 74,210,499	$ 75,437,299	$ 64,450,894	$ 82,341,329	$ 63,794,494	$ 64,238,127	$ 48,615,653	$ 38,722,957	$ 33,917,787	$ 25,424,832	$ 32,456,238	$ 282,564,697	$ 258,989,603	$ 130,521,814
Gross profit	7,923,409	7,401,848	8,835,660	2,692,799	26,247,600	9,041,115	9,468,054	6,957,219	2,219,771	6,046,492	5,611,925	(7,849,642)	26,853,716	51,713,988	6,028,546
Income from operations	6,637,150	6,133,380	7,683,645	1,444,920	24,593,778	7,791,872	8,191,959	5,706,085	1,079,267	5,054,469	4,666,216	(9,189,480)	21,899,095	46,283,694	1,610,472
Interest Income, Other													159,395	13,361	3,615
Interest Expense													90,881	727,452	1,394,035
Depreciation													5,060,975	5,396,440	5,718,454
Nonoperating Income (Expense)													5,402,862	10,802,592	(554,833)
Equity in net income of investments													3,703,767	10,169,606	343,728
Net Income	8,004,092	$ 6,509,692	$ 11,122,974	$ 1,665,199	31,679,547	$ 8,812,557	$ 10,058,652	$ 6,535,530	$ 1,506,881	$ 5,810,426	$ 4,213,375	$ (10,475,043)	27,301,957	57,086,286	1,055,639
Investment Income, Investment Expense													9,943,710	2,061,972	359,221
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	156,406,527				148,952,863								156,406,527	148,952,863
Equity Method Investment, Underlying Equity in Net Assets	17,691,011				20,504,842								17,691,011	20,504,842
Investment Income, Investment Expense													9,943,710	2,061,972	359,221
Production
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUES													282,564,697	258,989,603	130,521,814
Gross profit													26,853,716	51,713,988	6,028,546
Interest Income, Other													159,395	13,361	3,615
Interest Expense													90,881	727,452	1,394,035
Depreciation													5,060,975	5,396,440	5,718,454
Net Income													27,301,957	57,086,286	1,055,639
Investment Income, Investment Expense													9,943,710	2,061,972	359,221
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	156,406,527				148,952,863								156,406,527	148,952,863
Equity Method Investment, Underlying Equity in Net Assets	17,691,011				20,504,842								17,691,011	20,504,842
Investment Income, Investment Expense													9,943,710	2,061,972	359,221
Ethanol Producing Equity Method Investments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUES													722,085,949	650,859,715	325,954,417
Gross profit													47,752,808	102,631,701	11,976,243
Interest Income, Other													99,295	39,177	21,902
Interest Expense													3,235,797	3,293,641	4,276,226
Depreciation													26,372,193	26,798,254	26,742,646
Net Income													31,836,172	97,010,893	307,019
Investment Income, Investment Expense													2,608,185	1,780,335	2,431,446
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	239,476,419				261,642,408								239,476,419	261,642,408
Equity Method Investment, Underlying Equity in Net Assets	5,808,086				4,125,459								5,808,086	4,125,459
Investment Income, Investment Expense													2,608,185	1,780,335	2,431,446
Other Equity Method Investments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUES													17,545,070	16,262,276	14,200,489
Gross profit													11,794,408	10,280,024	8,840,138
Interest Income, Other													2,869,090	2,135,470	2,395,057
Interest Expense													5,705,000	3,082,000	2,469,656
Depreciation													167,004	204,745	235,325
Net Income													5,397,812	5,538,295	2,411,213
Investment Income, Investment Expense													128,442	0	47,650
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	296,653,249				283,835,871								296,653,249	283,835,871
Equity Method Investment, Underlying Equity in Net Assets	214,342				209,328								214,342	209,328
Investment Income, Investment Expense													128,442	0	47,650
Combined Segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUES													1,022,195,716	926,111,594	470,676,720
Gross profit													86,400,932	164,625,713	26,844,927
Interest Income, Other													3,127,780	2,188,008	2,420,574
Interest Expense													9,031,678	7,103,093	8,139,917
Depreciation													31,600,172	32,399,439	32,696,425
Net Income													64,535,941	159,635,474	3,773,871
Investment Income, Investment Expense													12,680,337	3,842,307	2,838,317
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	692,536,195				694,431,142								692,536,195	694,431,142
Equity Method Investment, Underlying Equity in Net Assets	23,713,439				24,839,629								23,713,439	24,839,629
Investment Income, Investment Expense													12,680,337	3,842,307	2,838,317
Non-production members
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUES													(739,631,019)	(667,121,991)	(340,154,906)
Gross profit													(59,547,216)	(112,911,725)	(20,816,381)
Interest Income, Other													(2,968,385)	(2,174,647)	(2,416,959)
Interest Expense													(8,940,797)	(6,375,641)	(6,745,882)
Depreciation													(26,539,197)	(27,002,999)	(26,977,971)
Net Income													(37,233,984)	(102,549,188)	(2,718,232)
Investment Income, Investment Expense													(2,736,627)	(1,780,335)	(2,479,096)
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	(536,129,668)				(545,478,279)								(536,129,668)	(545,478,279)
Equity Method Investment, Underlying Equity in Net Assets	$ (6,022,428)				$ (4,334,787)								(6,022,428)	(4,334,787)
Investment Income, Investment Expense													$ (2,736,627)	$ (1,780,335)	$ (2,479,096)

SEC Schedule, Article 12-04, _3

SEC Schedule, Article 12-04, Condensed Financial Information of Registrant (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Condensed Income Statements, Captions [Line Items]
Net Income	$ 8,004,092	$ 6,509,692	$ 11,122,974	$ 1,665,199	$ 31,679,547	$ 8,812,557	$ 10,058,652	$ 6,535,530	$ 1,506,881	$ 5,810,426	$ 4,213,375	$ (10,475,043)	$ 27,301,957	$ 57,086,286	$ 1,055,639
Nonoperating Income (Expense)													5,402,862	10,802,592	(554,833)
Interest and other income													1,789,976	1,360,438	495,474
Equity in net income of investments													3,703,767	10,169,606	343,728
Income from operations	6,637,150	6,133,380	7,683,645	1,444,920	24,593,778	7,791,872	8,191,959	5,706,085	1,079,267	5,054,469	4,666,216	(9,189,480)	21,899,095	46,283,694	1,610,472
OPERATING EXPENSES													4,954,621	5,430,294	4,418,074
Condensed Balance Sheet Statements, Captions [Line Items]
Stockholders' Equity Attributable to Parent	107,948,006				113,468,865				65,268,579				107,948,006	113,468,865	65,268,579	$ 64,212,940
Liabilities and Equity	156,406,527				148,952,863								156,406,527	148,952,863
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	27,004,205				37,995,310				18,637,811				27,004,205	37,995,310	18,637,811	12,823,653
Assets, Current	59,455,069				59,935,257								59,455,069	59,935,257
Goodwill	10,395,766				10,395,766								10,395,766	10,395,766
Investments and Other Noncurrent Assets	33,470,087				30,965,910								33,470,087	30,965,910
Assets	156,406,527				148,952,863								156,406,527	148,952,863
Liabilities, Current	45,460,292				31,488,859								45,460,292	31,488,859
Liabilities, Noncurrent	2,998,229				3,995,139								2,998,229	3,995,139
Condensed Cash Flow Statements, Captions [Line Items]
Net Income	8,004,092	$ 6,509,692	$ 11,122,974	$ 1,665,199	31,679,547	$ 8,812,557	$ 10,058,652	$ 6,535,530	1,506,881	$ 5,810,426	$ 4,213,375	$ (10,475,043)	27,301,957	57,086,286	1,055,639
Accounts payable													12,646,359	7,328,901	4,713,782
Prepaid expenses													(131,621)	(55,718)	(198,049)
Distributions in excess of earnings (earnings in excess of distributions) from investments													3,301,233	(3,544,606)	45,803
Increase (Decrease) in Accounts Receivable													1,024,414	(309,324)	642,721
Net Cash Provided by (Used in) Operating Activities													36,623,827	59,720,664	9,238,635
Net Cash Provided by (Used in) Investing Activities													(15,765,113)	(2,385,841)	(359,221)
Distributions													(32,822,816)	(8,886,000)	0
Net Cash Provided by (Used in) Financing Activities													(31,849,819)	(37,977,324)	(3,065,256)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect													(10,991,105)	19,357,499	5,814,158
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	27,004,205				37,995,310				18,637,811				27,004,205	37,995,310	18,637,811	12,823,653
Dakota Ethanol
Condensed Income Statements, Captions [Line Items]
Nonoperating Income (Expense)													3,372,522	9,803,615	109,652
Interest and other income													35,219	7,112	10,737
Equity in net income of investments													3,337,303	9,796,503	98,915
Income from operations													23,929,435	47,282,671	945,987
OPERATING EXPENSES													55,829	83,659	127,978
Income (Loss) from Subsidiaries, Net of Tax													23,985,264	47,366,330	1,073,965
Condensed Balance Sheet Statements, Captions [Line Items]
Stockholders' Equity Attributable to Parent	107,948,006				113,468,865								107,948,006	113,468,865
Liabilities and Equity	107,957,606				113,468,865								107,957,606	113,468,865
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	114,718				121,244				58,505				114,718	121,244	58,505	33,473
Accounts and Other Receivables, Net, Current	0				2,500,000								0	2,500,000
Prepaid Expense	4,700				0								4,700	0
Assets, Current	119,418				2,621,244								119,418	2,621,244
Goodwill	10,395,766				10,395,766								10,395,766	10,395,766
Investments	82,253,625				81,870,361								82,253,625	81,870,361
Investments and Other Noncurrent Assets	107,838,188				110,847,621								107,838,188	110,847,621
Assets	107,957,606				113,468,865								107,957,606	113,468,865
Liabilities, Current	9,600				0								9,600	0
Liabilities, Noncurrent	0				0								0	0
Condensed Cash Flow Statements, Captions [Line Items]
Accounts payable													9,600	0	0
Proceeds from Equity Method Investment, Distribution													23,602,000	5,050,744	100,000
Prepaid expenses													(4,700)	24,542	(7,456)
Distributions in excess of earnings (earnings in excess of distributions) from investments													5,892,697	(3,346,503)	(98,915)
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions													(23,985,264)	(47,366,330)	(1,073,965)
Increase (Decrease) in Accounts Receivable													0	2,500,000	0
Net Cash Provided by (Used in) Operating Activities													9,214,290	3,897,995	(124,697)
Payments to Acquire Assets, Investing Activities													0	0	49,729
Net Cash Provided by (Used in) Investing Activities													23,602,000	5,050,744	149,729
Distributions													(32,822,816)	(8,886,000)	0
Net Cash Provided by (Used in) Financing Activities													(32,822,816)	(8,886,000)	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect													(6,526)	62,739	25,032
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	114,718				121,244				$ 58,505				114,718	121,244	$ 58,505	$ 33,473
Other Investments Combined
Condensed Balance Sheet Statements, Captions [Line Items]
Investments	$ 15,188,797				$ 18,581,494								$ 15,188,797	$ 18,581,494

Parent Company Financials (Deta

Parent Company Financials (Details) - Farm Credit Services of America	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Parent Company
Condensed Financial Information Disclosure [Abstract]
Debt Instrument, Restrictive Covenants	18,000,000
Condensed Financial Statements, Captions [Line Items]
Debt Instrument, Restrictive Covenants	18,000,000
Parent Company
Condensed Financial Information Disclosure [Abstract]
Debt Instrument, Restrictive Covenants	75	75
Condensed Financial Statements, Captions [Line Items]
Debt Instrument, Restrictive Covenants	75	75