1. ORGANIZATION AND BASIS OF PRESENTATION (Tables)

12 Months Ended

Dec. 31, 2014

Organization And Basis Of Presentation Tables

Concentrations of Credit Risk Major Customers

	Years Ended December 31,
	2014		2013		2012
Customer A		20%		23%		21%
Customer B		20%		17%		16%
Customer C		8%		12%		12%
Customer D		11%		6%		2%

Purchases from external customers

	Years Ended December 31,
	2014		2013		2012
Supplier A		26%		37%		40%
Supplier B		15%		14%		14%
Supplier C		12%		8%		10%

Inventory

	December 31,
	2014		2013
Finished goods	$	11,118	$	10,287
Raw materials		2,695		9,418
Work in progress		3,274		2,766
Other		1,463		915
Total	$	18,550	$	23,386

Property and equipment 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, Diluted, by Common Class, Including Two Class Method

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

	Year Ended December 31, 2014
	Income Numerator			Shares Denominator		Per-Share Amount
Net income attributed to Pacific Ethanol	$	21,289
Less: Preferred stock dividends		(1,265	)
Basic income per share:
Income available to common stockholders	$	20,024			20,810	$	0.96
Add: Warrants		–			1,859
Diluted income per share:
Income available to common stockholders	$	20,024			22,669	$	0.88

	Year Ended December 31, 2013
	Loss Numerator			Shares Denominator		Per-Share Amount
Net loss attributed to Pacific Ethanol, Inc.	$	(781	)
Less: Preferred stock dividends		(1,265	)
Basic and diluted loss per share:
Loss available to common stockholders	$	(2,046	)		12,264	$	(0.17	)

	Year Ended December 31, 2012
	Loss Numerator			Shares Denominator		Per-Share Amount
Net loss attributed to Pacific Ethanol, Inc.	$	(19,057	)
Less: Preferred stock dividends		(1,268	)
Basic and diluted loss per share:
Loss available to common stockholders	$	(20,325	)		7,224	$	(2.81	)