Annual report pursuant to Section 13 and 15(d)

PARENT COMPANY FINANCIALS. (Tables)

v3.20.1
PARENT COMPANY FINANCIALS. (Tables)
12 Months Ended
Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]  
Schedule of balance sheets - parent company
    December 31,  
ASSETS   2019     2018  
Current Assets:                
Cash and cash equivalents   $ 4,985     $ 6,759  
Receivables from subsidiaries     13,057       17,156  
Other current assets     2,349       1,659  
Total current assets     20,391       25,574  
                 
Property and equipment, net     269       522  
                 
Other Assets:                
Investments in subsidiaries     218,464       286,666  
Right of use lease assets     3,253        
Pacific Ethanol West plant receivable     55,750       58,766  
Other assets     1,452       1,437  
Total other assets     278,919       346,869  
Total Assets   $ 299,579     $ 372,965  
                 
Current Liabilities:                
Accounts payable and accrued liabilities   $ 5,907     $ 2,469  
Accrued PE Op Co. purchase     3,829       3,829  
Current portion of long-term debt     10,000       66,255  
Other current liabilities     659       385  
Total current liabilities     20,395       72,938  
                 
Long-term debt, net     56,110        
Deferred tax liabilities     253       251  
Other liabilities     3,041       9  
Total Liabilities     79,799       73,198  
Stockholders' Equity:                
Preferred stock     1       1  
Common and non-voting common stock     56       46  
Additional paid-in capital     942,307       932,179  
Accumulated other comprehensive loss     (2,370 )     (2,459 )
Accumulated deficit     (720,214 )     (630,000 )
Total Pacific Ethanol, Inc. stockholders' equity     219,780       299,767  
Total Liabilities and Stockholders' Equity   $ 299,579     $ 372,965  
Schedule of statement of operations parent company
    Years Ended December 31,  
    2019     2018  
Management fees from subsidiaries   $ 12,682     $ 12,408  
Selling, general and administrative expenses     16,007       16,795  
Loss from operations     (3,325 )     (4,387 )
Loss on debt extinguishment     (6,517 )      
Interest income     4,600       4,703  
Interest expense     (9,637 )     (8,678 )
Other expense, net     (86 )     (74 )
Loss before provision (benefit) for income taxes     (14,965 )     (8,436 )
Benefit for income taxes     20       562  
Loss before equity in earnings of subsidiaries     (14,945 )     (7,874 )
Equity in losses of subsidiaries     (74,004 )     (52,399 )
Consolidated net loss   $ (88,949 )   $ (60,273 )
Schedule of statement of cash flows parent company
    For the Years Ended December 31,  
    2019     2018  
Operating Activities:                
Net loss   $ (88,949 )   $ (60,273 )
Adjustments to reconcile net loss to cash provided by (used in) operating activities:                
Equity in losses of subsidiaries     74,004       52,399  
Dividends from subsidiaries           25,000  
Depreciation     267       567  
Loss on debt extinguishment     6,517        
Deferred income taxes           27  
Amortization of debt discounts     689       720  
Changes in operating assets and liabilities:                
Accounts receivables           (9,018 )
Other assets     3,277       100  
Accounts payable and accrued expenses     2,673       740  
Accounts receivable with subsidiaries     2,115        
Accounts payable with subsidiaries     (49 )     2,409  
Net cash provided by (used in) operating activities   $ 544     $ 12,671  
Investing Activities:                
Additions to property and equipment   $ (14 )   $ (18 )
Investments in subsidiaries           (10,000 )
Net cash used in investing activities   $ (14 )   $ (10,018 )
Financing Activities:                
Proceeds from issuance of common stock   $ 3,670     $ 2,057  
Debt issuances costs     (1,280 )      
Payments on senior notes     (3,748 )     (2,000 )
Preferred stock dividend payments     (946 )     (1,265 )
Net cash provided by (used in) financing activities   $ (2,304 )   $ (1,208 )
Net increase (decrease) in cash and cash equivalents     (1,774 )     1,445  
Cash and cash equivalents at beginning of period     6,759       5,314  
Cash and cash equivalents at end of period   $ 4,985     $ 6,759