General form of registration statement for all companies including face-amount certificate companies

PLANT OWNERS' CONDENSED COMBINED FINANCIAL STATEMENTS.

v2.4.0.6
PLANT OWNERS' CONDENSED COMBINED FINANCIAL STATEMENTS.
9 Months Ended 12 Months Ended
Sep. 30, 2011
Dec. 31, 2010
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
11.
PLANT OWNERS’ CONDENSED COMBINED FINANCIAL STATEMENTS.

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):

PACIFIC ETHANOL HOLDING CO. LLC AND SUBSIDIARIES

CONDENSED COMBINED STATEMENT OF OPERATIONS

Nine Months Ended September 30, 2010

Net sales
  $ 89,737  
Cost of goods sold
    98,140  
Gross loss
    (8,403 )
Selling, general and administrative expenses
    1,829  
Loss from operations
    (10,232 )
Other expense, net
    (1,253 )
Loss before reorganization costs and gain from bankruptcy exit
    (11,485 )
Reorganization costs
    (4,153 )
Gain from bankruptcy exit
    119,408  
Net income
  $ 103,770  

PACIFIC ETHANOL HOLDING CO. LLC AND SUBSIDIARIES

CONDENSED COMBINED STATEMENT OF CASH FLOWS

Nine Months Ended September 30, 2010

Operating Activities:
   
Net cash used in operating activities
  $ (6,808 )
Investing Activities:
       
Net cash impact of bankruptcy exit
  $ (1,301 )
Additions to property and equipment
    (310 )
Net cash used in investing activities
  $ (1,611 )
Financing Activities:
       
Proceeds from borrowings
  $ 5,173  
Net cash provided by financing activities
  $ 5,173  
Net decrease in cash and cash equivalents
    (3,246 )
Cash and cash equivalents at beginning of period
    3,246  
Cash and cash equivalents at end of period
  $  

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

ASSETS
Current Assets:
     
Cash and cash equivalents
  $ 3,246  
Accounts receivable trade
    716  
Accounts receivable related parties
    2,371  
Inventories
    7,789  
Prepaid expenses
    1,131  
Other current assets
    1,029  
Total current assets
    16,282  
Property and equipment, net
    160,000  
Other assets
    858  
Total Assets
  $ 177,140  

LIABILITIES AND MEMBER’S DEFICIT
Current Liabilities:
     
Accounts payable – trade
  $ 2,219  
Accrued liabilities
    174  
Other liabilities – related parties
    36  
DIP financing and rollup
    39,654  
Other current liabilities
    1,504  
Total current liabilities
    43,587  
         
Other liabilities
    61  
Liabilities subject to compromise
    242,417  
Total Liabilities
    286,065  
Member’s Deficit:
       
Member’s equity
    257,487  
Accumulated deficit
    (366,412 )
Total Member’s Deficit
    (108,925 )
Total Liabilities and Member’s Deficit
  $ 177,140  

PACIFIC ETHANOL HOLDING CO. LLC AND SUBSIDIARIES

CONDENSED COMBINED STATEMENTS OF OPERATIONS

   
January 1, 2010
to
June 29, 2010
   
May 17, 2009
 to
December 31, 2009
 
             
Net sales
  $ 89,737     $ 50,448  
Cost of goods sold
    98,140       66,470  
Gross loss
    (8,403 )     (16,022 )
Selling, general and administrative expenses
    1,829       2,420  
Asset impairments
          247,657  
Loss from operations
    (10,232 )     (266,099 )
Other expense, net
    (1,253 )     (267 )
Loss before reorganization costs and gain from bankruptcy exit
    (11,485 )     (266,366 )
Reorganization costs
    (4,153 )     (11,607 )
Gain from bankruptcy exit
    119,408        
Net income (loss)
  $ 103,770     $ (277,973 )

PACIFIC ETHANOL HOLDING CO. LLC AND SUBSIDIARIES

CONDENSED COMBINED STATEMENTS OF CASH FLOWS

   
January 1, 2010
to
June 29, 2010
   
May 17, 2009
to
December 31, 2009
 
Operating Activities:
           
Net income (loss)
  $ 103,770     $ (277,973 )
Adjustments to reconcile net income (loss) to cash used in operating activities:
               
Non-cash reorganization costs:
               
Gain on bankruptcy exit
    (119,408 )      
Write-off of unamortized deferred financing fees
          7,545  
Settlement of accrued liability
          (2,008 )
Asset impairments
          247,657  
Depreciation and amortization of intangibles
    5,064       16,042  
Gain on derivative instruments
    (1,206 )     (1,572 )
Amortization of deferred financing costs
    85       61  
Changes in operating assets and liabilities:
               
Accounts receivable
    (5,059 )     (103 )
Inventories
    2,948       (5,016 )
Prepaid expenses and other assets
    159       (378 )
Accounts payable and accrued expenses
    6,839       (442 )
Net cash used in operating activities
  $ (6,808 )   $ (16,187 )
Investing Activities:
               
Additions to property and equipment
  $ (310 )   $ (446 )
Net cash impact of bankruptcy exit
    (1,301 )      
Net cash used in investing activities
  $ (1,611 )   $ (446 )
Financing Activities:
               
Proceeds from borrowings under DIP financing
  $ 5,173     $ 19,827  
Net cash provided by financing activities
  $ 5,173     $ 19,827  
Net increase (decrease) in cash and cash equivalents
    (3,246 )     3,194  
Cash and cash equivalents at beginning of period
    3,246       52  
Cash and cash equivalents at end of period
  $     $ 3,246