| Condensed Financial Information of Parent Company Only Disclosure [Text Block] |
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PLANT
OWNERS’ CONDENSED COMBINED FINANCIAL
STATEMENTS.
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Since
the consolidated financial statements of the Company
include entities other than the Plant Owners, the
following presents the condensed combined financial
statements of the Plant Owners. These condensed combined
financial statements have been prepared, in all material
respects, on the same basis as the consolidated financial
statements of the Company. The condensed combined
financial statements of the Plant Owners are as follows
(unaudited, in thousands):
CONDENSED
COMBINED STATEMENT OF OPERATIONS
Nine
Months Ended September 30, 2010
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Operating
Activities:
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Net
cash used in operating activities
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$
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(6,808
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)
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Investing
Activities:
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Net
cash impact of bankruptcy exit
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$
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(1,301
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)
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Additions
to property and equipment
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(310
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)
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Net
cash used in investing activities
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$
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(1,611
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)
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Financing
Activities:
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Proceeds
from borrowings
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$
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5,173
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Net
cash provided by financing activities
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$
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5,173
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Net
decrease in cash and cash equivalents
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(3,246
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)
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Cash
and cash equivalents at beginning of
period
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3,246
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Cash
and cash equivalents at end of period
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$
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—
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15.
PLANT OWNERS’ CONDENSED COMBINED FINANCIAL
STATEMENTS
Since
the consolidated financial statements of the Company include
entities other than the Plant Owners, below are the condensed
combined financial statements of the Plant Owners for the
periods included in these consolidated financial statements
during the pendency of their Chapter 11 Filings. These
condensed combined financial statements have been prepared,
in all material respects, on the same basis as the
consolidated financial statements of the Company. The
condensed combined financial statements of the Plant Owners
during the pendency of their Chapter 11 Filings are as
follows (unaudited, in thousands):
PACIFIC
ETHANOL HOLDING CO. LLC AND SUBSIDIARIES
CONDENSED
COMBINED BALANCE SHEET
As
of December 31, 2009
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ASSETS
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Current
Assets:
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Cash
and cash equivalents
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$
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3,246
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Accounts
receivable trade
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716
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Accounts
receivable related parties
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2,371
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Inventories
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7,789
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Prepaid
expenses
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1,131
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Other
current assets
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1,029
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Total
current assets
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16,282
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Property
and equipment, net
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160,000
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Other
assets
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858
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Total
Assets
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$
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177,140
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LIABILITIES AND
MEMBER’S DEFICIT
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Current
Liabilities:
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Accounts
payable – trade
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$
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2,219
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Accrued
liabilities
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174
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Other
liabilities – related parties
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36
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DIP
financing and rollup
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39,654
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Other
current liabilities
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1,504
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Total
current liabilities
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43,587
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Other
liabilities
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61
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Liabilities
subject to compromise
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242,417
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Total
Liabilities
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286,065
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Member’s
Deficit:
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Member’s
equity
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257,487
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Accumulated
deficit
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(366,412
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)
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Total
Member’s Deficit
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(108,925
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)
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Total
Liabilities and Member’s Deficit
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$
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177,140
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PACIFIC
ETHANOL HOLDING CO. LLC AND SUBSIDIARIES
CONDENSED
COMBINED STATEMENTS OF OPERATIONS
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Net
sales
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$
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89,737
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$
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50,448
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Cost
of goods sold
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98,140
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66,470
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Gross
loss
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(8,403
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)
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(16,022
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)
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Selling,
general and administrative expenses
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1,829
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2,420
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Asset
impairments
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—
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247,657
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Loss
from operations
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(10,232
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)
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(266,099
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)
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Other
expense, net
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(1,253
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)
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(267
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)
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Loss
before reorganization costs and gain from bankruptcy
exit
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(11,485
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)
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(266,366
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)
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Reorganization
costs
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(4,153
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)
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(11,607
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)
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Gain
from bankruptcy exit
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119,408
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—
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Net
income (loss)
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$
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103,770
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$
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(277,973
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)
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PACIFIC
ETHANOL HOLDING CO. LLC AND SUBSIDIARIES
CONDENSED
COMBINED STATEMENTS OF CASH FLOWS
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January
1, 2010
to
June
29, 2010
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May
17, 2009
to
December
31, 2009
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Operating
Activities:
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Net
income (loss)
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$
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103,770
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$
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(277,973
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)
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Adjustments
to reconcile net income (loss) to cash
used in operating activities:
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Non-cash
reorganization costs:
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Gain
on bankruptcy exit
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(119,408
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)
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—
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Write-off
of unamortized deferred financing fees
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—
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7,545
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Settlement
of accrued liability
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—
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(2,008
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)
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Asset
impairments
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—
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247,657
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Depreciation
and amortization of intangibles
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5,064
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16,042
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Gain
on derivative instruments
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(1,206
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)
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(1,572
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)
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Amortization
of deferred financing costs
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85
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61
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Changes
in operating assets and liabilities:
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Accounts
receivable
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(5,059
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)
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(103
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)
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Inventories
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2,948
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(5,016
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)
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Prepaid
expenses and other assets
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159
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(378
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)
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Accounts
payable and accrued expenses
|
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6,839
|
|
|
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(442
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)
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Net
cash used in operating activities
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$
|
(6,808
|
)
|
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$
|
(16,187
|
)
|
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Investing
Activities:
|
|
|
|
|
|
|
|
|
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Additions
to property and equipment
|
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$
|
(310
|
)
|
|
$
|
(446
|
)
|
|
Net
cash impact of bankruptcy exit
|
|
|
(1,301
|
)
|
|
|
—
|
|
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Net
cash used in investing activities
|
|
$
|
(1,611
|
)
|
|
$
|
(446
|
)
|
|
Financing
Activities:
|
|
|
|
|
|
|
|
|
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Proceeds
from borrowings under DIP financing
|
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$
|
5,173
|
|
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$
|
19,827
|
|
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Net
cash provided by financing activities
|
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$
|
5,173
|
|
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$
|
19,827
|
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Net
increase (decrease) in cash and cash
equivalents
|
|
|
(3,246
|
)
|
|
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3,194
|
|
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Cash
and cash equivalents at beginning of period
|
|
|
3,246
|
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|
|
52
|
|
|
Cash
and cash equivalents at end of period
|
|
$
|
—
|
|
|
$
|
3,246
|
|
|