Quarterly report pursuant to Section 13 or 15(d)

PARENT COMPANY FINANCIALS. (Tables)

v3.20.1
PARENT COMPANY FINANCIALS. (Tables)
3 Months Ended
Mar. 31, 2020
Condensed Financial Information Disclosure [Abstract]  
Schedule of balance sheets - parent company

    March 31,     December 31,
 
ASSETS   2020       2019  
             
Current Assets:            
Cash and cash equivalents   $ 9,721     $ 4,985  
Receivables from subsidiaries     12,934       13,057  
Other current assets     2,336       2,349  
Total current assets     24,991       20,391  
                 
Property and equipment, net     235       269  
Other Assets:                
Investments in subsidiaries     195,597       218,464  
Pacific Ethanol West plant receivable     49,937       55,750  
Right of use operating lease assets, net     3,187       3,253  
Other assets     1,451       1,452  
Total other assets     250,172       278,919  
Total Assets   $ 275,398     $ 299,579  
Current Liabilities:                
Accounts payable and accrued liabilities   $ 4,721     $ 5,907  
Accrued PE Op Co. purchase     3,829       3,829  
Current portion of long-term debt     10,000       10,000  
Other current liabilities     3,128       659  
Total current liabilities     21,678       20,395  
                 
Long-term debt, net of current portion     54,931       56,110  
Other liabilities     3,278       3,294  
Total Liabilities     79,887       79,799  
Stockholders' Equity:                
Preferred stock     1       1  
Common and non-voting common stock     56       56  
Additional paid-in capital     943,453       942,307  
Accumulated other comprehensive loss     (2,370 )     (2,370 )
Accumulated deficit     (745,629 )     (720,214 )
Total Pacific Ethanol, Inc. stockholders' equity     195,511       219,780  
Total Liabilities and Stockholders' Equity   $ 275,398     $ 299,579  

Schedule of statement of operations parent company

   

Three Months

Ended March 31,

 
    2020     2019  
Management fees from subsidiaries   $ 3,253     $ 3,330  
Selling, general and administrative expenses     5,377       4,729  
Loss from operations     (2,124 )     (1,399 )
Fair value adjustments     673        
Interest income     1,042       1,159  
Interest expense     (2,640 )     (2,456 )
Loss before benefit for income taxes     (3,049 )     (2,696 )
Benefit for income taxes            
Loss before equity in losses of subsidiaries     (3,049 )     (2,696 )
Equity in losses of subsidiaries     (22,051 )     (10,194 )
Consolidated net loss   $ (25,100 )   $ (12,890 )

Schedule of statement of cash flows parent company

   

For the Three Months

Ended March 31,

 
    2020     2019  
Operating Activities:            
Net loss   $ (25,100 )   $ (12,890 )
Adjustments to reconcile net loss to cash used in operating activities:                
Equity in losses of subsidiaries     22,051       10,194  
Fair value adjustments     (673 )      
Depreciation     33       75  
Amortization (accretion) of debt discount (premium)     (57 )     178  
Changes in operating assets and liabilities:                
Receivables from subsidiaries     123       1,778  
Other assets     29       (264 )
Accounts payable and accrued expenses           45  
Accounts payable with subsidiaries     2,235       797  
Net cash used in operating activities   $ (1,359 )   $ (87 )
Investing Activities:                
Additions to property and equipment   $     $  
Net cash used in investing activities   $     $  
Financing Activities:                
Proceeds from issuances of common stock   $ 282     $ 3,670  
Proceeds from plant receivable     5,813        
Payments on senior notes           (3,748 )
Preferred stock dividend payments           (312 )
Net cash provided by (used in) financing activities   $ 6,095     $ (390 )
Net increase (decrease) in cash and cash equivalents     4,736       (477 )
Cash and cash equivalents at beginning of period     4,985       6,759  
Cash and cash equivalents at end of period   $ 9,721     $ 6,282