Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 49,489 $ 64,259
Accounts receivable, net of allowance for doubtful accounts of $19 and $331, respectively 80,344 86,275
Inventories 61,550 60,070
Prepaid inventory 3,281 9,946
Income tax receivables 743 5,730
Derivative assets 998 978
Other current assets 6,841 7,943
Total current assets 203,246 235,201
Property and equipment, net 508,352 465,190
Other Assets:    
Intangible assets 2,678 2,678
Other assets 6,020 5,169
Total other assets 8,698 7,847
Total Assets 720,296 708,238
Current Liabilities:    
Accounts payable - trade 39,738 37,051
Accrued liabilities 21,673 20,280
Current portion - capital leases 592 794
Current portion - long-term debt 20,000 10,500
Derivative liabilities 2,307 4,115
Other current liabilities 6,396 6,101
Total current liabilities 90,706 78,841
Long-term debt, net of current portion 221,091 188,028
Capital leases, net of current portion 123 547
Warrant liabilities at fair value 651
Other liabilities 24,676 21,910
Total Liabilities 336,596 289,977
Commitments and contingencies (Notes 1, 8, 9 and 14)
Stockholders' Equity:    
Common stock value 44 40
Additional paid-in capital 927,090 922,698
Accumulated other comprehensive loss (2,234) (2,620)
Accumulated deficit (568,462) (532,233)
Total Pacific Ethanol, Inc. stockholders' equity 356,439 387,890
Noncontrolling interests 27,261 30,371
Total stockholders' equity 383,700 418,261
Total Liabilities and Stockholders' Equity 720,296 708,238
Series A Preferred Stock    
Stockholders' Equity:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized: Series A: 1,684,375 shares authorized; no shares issued and outstanding as of December 31, 2017 and 2016 Series B: 1,580,790 shares authorized; 926,942 shares issued and outstanding as of December 31, 2017 and 2016; liquidation preference of $18,075 as of December 31, 2017
Series B Preferred Stock    
Stockholders' Equity:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized: Series A: 1,684,375 shares authorized; no shares issued and outstanding as of December 31, 2017 and 2016 Series B: 1,580,790 shares authorized; 926,942 shares issued and outstanding as of December 31, 2017 and 2016; liquidation preference of $18,075 as of December 31, 2017 1 1
Nonvoting Common Stock [Member]    
Stockholders' Equity:    
Common stock value $ 4