Alto Ingredients, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating Activities:
Consolidated net income (loss)	$ 26,002us-gaap_ProfitLoss	$ (1,162)us-gaap_ProfitLoss	$ (43,355)us-gaap_ProfitLoss
Adjustments to reconcile consolidated net income (loss) to cash provided by (used in) operating activities:
Depreciation and amortization of intangibles	13,186us-gaap_DepreciationAndAmortization	12,136us-gaap_DepreciationAndAmortization	12,205us-gaap_DepreciationAndAmortization
Fair value adjustments	35,260us-gaap_FairValueAdjustmentOfWarrants	227us-gaap_FairValueAdjustmentOfWarrants	(1,954)us-gaap_FairValueAdjustmentOfWarrants
Loss on extinguishments of debt	2,363	3,035	0
Deferred income taxes	5,129	0	0
Inventory valuation	970us-gaap_InventoryWriteDown	8us-gaap_InventoryWriteDown	816us-gaap_InventoryWriteDown
Change in fair value on derivative instruments	808	1,821	(999)
Amortization of deferred financing fees	1,217	2,009	736
Amortization of debt discount	1,815	1,272	0
Non-cash compensation	1,838us-gaap_ShareBasedCompensation	1,724us-gaap_ShareBasedCompensation	806us-gaap_ShareBasedCompensation
Bad debt expense (recovery)	(42)us-gaap_ProvisionForDoubtfulAccounts	169us-gaap_ProvisionForDoubtfulAccounts	(6)us-gaap_ProvisionForDoubtfulAccounts
Loss on disposals of assets	439us-gaap_GainLossOnDispositionOfAssets	0us-gaap_GainLossOnDispositionOfAssets	0us-gaap_GainLossOnDispositionOfAssets
Interest expense added to Plant Owners' debt	0	4,745	3,542
Interest on convertible debt paid with stock	0	111	0
Changes in operating assets and liabilities:
Accounts receivable	726	(9,414)	2,095
Inventories	3,866us-gaap_IncreaseDecreaseInInventories	(2,150)us-gaap_IncreaseDecreaseInInventories	(929)us-gaap_IncreaseDecreaseInInventories
Prepaid expenses and other assets	(7,818)	(2,340)	2,251
Prepaid inventory	720	(6,893)	3,817
Accounts payable and accrued expenses	1,853	8,889	129
Net cash provided by (used in) operating activities	88,332	14,187	(20,846)
Investing Activities:
Additions to property and equipment	(13,259)	(3,993)	(2,273)
Purchases of New PE Holdco ownership interests	(6,000)	(2,340)	(10,000)
Net cash used in investing activities	(19,259)	(6,333)	(12,273)
Financing Activities:
Net proceeds from common stock and warrants	26,073	0	20,924
Proceeds from warrant exercises	43,676us-gaap_ProceedsFromWarrantExercises	2,064us-gaap_ProceedsFromWarrantExercises	0us-gaap_ProceedsFromWarrantExercises
Proceeds from senior notes and warrants	0us-gaap_ProceedsFromSecuredNotesPayable	22,192us-gaap_ProceedsFromSecuredNotesPayable	0us-gaap_ProceedsFromSecuredNotesPayable
Proceeds from subordinated convertible notes and warrants	0us-gaap_ProceedsFromNotesPayable	14,000us-gaap_ProceedsFromNotesPayable	0us-gaap_ProceedsFromNotesPayable
Proceeds from Plant Owners' borrowings	0us-gaap_ProceedsFromOtherDebt	7,000us-gaap_ProceedsFromOtherDebt	24,022us-gaap_ProceedsFromOtherDebt
Payments on Plant Owners' borrowings	(39,792)us-gaap_RepaymentsOfOtherDebt	(17,115)us-gaap_RepaymentsOfOtherDebt	0us-gaap_RepaymentsOfOtherDebt
Purchase of Plant Owners' debt	(17,038)peix_ParentPurchasesOfPlantOwnersDebt	(27,088)peix_ParentPurchasesOfPlantOwnersDebt	0peix_ParentPurchasesOfPlantOwnersDebt
Net payments on Kinergy’s line of credit	(1,512)us-gaap_RepaymentsOfLinesOfCredit	(669)us-gaap_RepaymentsOfLinesOfCredit	(721)us-gaap_RepaymentsOfLinesOfCredit
Payments on senior unsecured notes	(13,984)us-gaap_RepaymentsOfSeniorDebt	(6,208)us-gaap_RepaymentsOfSeniorDebt	(10,000)us-gaap_RepaymentsOfSeniorDebt
Debt issuance costs	(438)us-gaap_DebtIssuanceCosts	(1,560)us-gaap_DebtIssuanceCosts	(1,166)us-gaap_DebtIssuanceCosts
Payment on related party note	(750)us-gaap_RepaymentsOfRelatedPartyDebt	0us-gaap_RepaymentsOfRelatedPartyDebt	0us-gaap_RepaymentsOfRelatedPartyDebt
Preferred stock dividend payments	(3,459)	(1,265)	(1,268)
Payments on capital lease	(4,916)	(1,640)	0
Net cash (used in) provided by financing activities	(12,140)	(10,289)	31,791
Net increase (decrease) in cash and cash equivalents	56,933	(2,435)	(1,328)
Cash and cash equivalents at beginning of period	5,151	7,586	8,914
Cash and cash equivalents at end of period	62,084	5,151	7,586
Supplemental Information:
Interest paid	6,596us-gaap_InterestPaidNet	7,515us-gaap_InterestPaidNet	8,828us-gaap_InterestPaidNet
Income taxes paid	17,930us-gaap_IncomeTaxesPaidNet	0us-gaap_IncomeTaxesPaidNet	0us-gaap_IncomeTaxesPaidNet
Noncash financing and investing activities:
Preferred stock dividends paid in common stock	1,463us-gaap_DividendsPaidinkind	2,192us-gaap_DividendsPaidinkind	1,464us-gaap_DividendsPaidinkind
Notes issued for purchase of 33% ownership in New PEHC	0	0	10,000
Capital leases added to plant and equipment	0	12,829	0
Original discount on senrior and convertible debt	0	8,558	0
Purchase of sugar inventory with note	0	5,000	0
Reclass of warrant liability to equity upon warrant exercises	41,486	260	113
Reclass of noncontrolling interest to APIC upon acquisitions of ownership interests in New PE Holdco	(79)	11,940	7,646
Debt extinguished with issuance of common stock	$ 0	$ 16,000	$ 0