Annual report pursuant to Section 13 and 15(d)

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES. (Tables)

v3.19.1
ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES. (Tables)
 12 Months Ended
Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of concentrations of credit risk major customers

The Company sold ethanol to customers representing 10% or more of the Company’s total net sales, as follows.

 

    Years Ended December 31,  
    2018     2017     2016  
                         
Customer A     14 %     16 %     17 %
Customer B     11 %     11 %     12 %

Schedule of purchases from external customers

The Company purchased corn from suppliers representing 10% or more of the Company’s total corn purchases, as follows:

 

    Years Ended December 31,  
    2018     2017     2016  
                         
Supplier A     17 %     14 %     13 %
Supplier B     14 %     13 %     4 %
Supplier C     11 %     9 %     13 %
Supplier D     10 %     10 %     8 %

Schedule of inventory

Inventory balances consisted of the following (in thousands):

 

    December 31,  
    2018     2017  
Finished goods   $ 35,778     $ 35,652  
Work in progress     6,855       8,807  
Raw materials     7,233       7,601  
Low-carbon and RIN credits     6,130       7,952  
Other     1,824       1,538  
Total   $ 57,820     $ 61,550  
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, 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 )
                         
    Year Ended December 31, 2017  
   

Loss

 

Numerator

 

     Shares Denominator     Per-Share
Amount		  
Net loss attributed to Pacific Ethanol   $ (34,964 )                
Less: Preferred stock dividends     (1,265 )                
Basic and diluted loss per share:                        
Loss available to common stockholders   $ (36,229 )     42,745     $ (0.85 )

  

    Year Ended December 31, 2016  
    Income
Numerator		     Shares Denominator     Per-Share Amount  
Net income attributed to Pacific Ethanol   $ 1,419                  
Less: Preferred stock dividends     (1,269 )                
Less: Income allocated to participating securities     (2 )                
Basic income per share:                        
Income available to common stockholders   $ 148       42,182     $ 0.00  
Add: Options     —       69          
Diluted income per share:                        
Income available to common stockholders   $ 148       42,251     $ 0.00