Annual report pursuant to Section 13 and 15(d)

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES. (Tables)

v3.20.1
ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES. (Tables)
 12 Months Ended
Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of concentrations of credit risk major customers
    Years Ended December 31,  
    2019     2018  
Customer A     12 %     14 %
Customer B     10 %     11 %
Schedule of purchases from external customers

The Company purchases corn, its largest cost component in producing ethanol, from its suppliers. The Company purchased corn from suppliers representing 10% or more of the Company's total corn purchases, as follows:

 

    Years Ended December 31,  
    2019     2018  
Supplier A     18 %     17 %
Supplier B     11 %     11 %
Supplier C     10 %     14 %
Supplier D     10 %     10 %
Schedule of inventory

Inventory balances consisted of the following (in thousands):

 

    December 31,  
    2019     2018  
Finished goods   $ 38,194     $ 35,778  
Work in progress     7,426       6,855  
Raw materials     7,890       7,233  
Low-carbon and RIN credits     5,690       6,130  
Other     1,400       1,824  
Total   $ 60,600     $ 57,820  

Schedule of property and equipment useful lives

Depreciation is computed using the straight-line method over the following estimated useful lives:

 

Buildings   40 years
Facilities and plant equipment   10 – 25 years
Other equipment, vehicles and furniture   5 – 10 years
Schedule of earnings per share

The following tables compute basic and diluted earnings per share (in thousands, except per share data):

 

    Year Ended December 31, 2019  
    Loss
Numerator		     Shares
Denominator		     Per-Share
Amount		  
Net loss attributed to Pacific Ethanol   $ (88,949 )                
Less: Preferred stock dividends     (1,265 )                
Basic and Diluted loss per share:                        
Loss available to common stockholders   $ (90,214 )     47,384     $ (1.90 )

 

    Year Ended December 31, 2018  
    Loss
Numerator		     Shares
Denominator		     Per-Share
Amount		  
Net loss attributed to Pacific Ethanol   $ (60,273 )                
Less: Preferred stock dividends     (1,265 )                
Basic and Diluted loss per share:                        
Loss available to common stockholders   $ (61,538 )     43,376     $ (1.42 )