Annual report pursuant to Section 13 and 15(d)

PACIFIC ETHANOL PLANTS. (Tables)

v3.19.1
PACIFIC ETHANOL PLANTS. (Tables)
 12 Months Ended
Dec. 31, 2018
ICP [Member]  
Schedule of purchase price allocation

The carrying values and classification of assets and liabilities of Pacific Aurora as of December 31, 2016 were as follows (in thousands):

 

Cash and equivalents   $ 1,453  
Accounts receivable     16,804  
Inventories     3,837  
Other current assets     77  
Total current assets     22,171  
Property and equipment     115,759  
Other assets     1,387  
Total assets   $ 139,317  
         
Accounts payable and accrued liabilities   $ 20,152  
Other current liabilities     2,045  
Long-term debt outstanding, net     621  
Total liabilities   $ 22,818  

Pacific Aurora [Member]  
Schedule of purchase price allocation

The Company’s purchase price consideration allocation is as follows (in thousands):

 

Cash and equivalents   $ 426  
Accounts receivable     11,636  
Inventories     9,227  
Other current assets     1,560  
Total current assets     22,849  
Property and equipment     61,128  
Other assets     328  
Total assets acquired   $ 84,305  
         
Accounts payable, trade   $ 5,683  
Other current liabilities     1,486  
Total current liabilities     7,169  
Other non-current liabilities     209  
Total liabilities assumed   $ 7,378  
         
Net assets acquired   $ 76,927  
Estimated goodwill   $ —  
Total purchase price   $ 76,927  
Schedule of pro forma allocation

The following table presents unaudited pro forma combined financial information assuming the acquisition of ICP occurred on January 1, 2016 (in thousands, except per share data):

 

    Years Ended December 31,  
    2017     2016  
             
Net sales – pro forma   $ 1,710,317     $ 1,802,159  
Consolidated net income (loss) – pro forma   $ (42,589 )   $ 8,329  
Diluted net income (loss) per share – pro forma   $ (0.95 )   $ 0.16  
Diluted weighted-average shares – pro forma     42,745       42,251