11. EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

11. EARNINGS PER SHARE

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

	Three Months Ended September 30, 2015
	Income Numerator			Shares Denominator		Per-Share Amount
Net loss attributed to Pacific Ethanol	$	(14,663	)
Less: Preferred stock dividends		(319	)
Basic and diluted loss per share:
Loss available to common stockholders	$	(14,982	)		41,861	$	(0.36	)

	Three Months Ended September 30, 2014
	Income Numerator			Shares Denominator		Per-Share Amount
Net income attributed to Pacific Ethanol	$	4,025
Less: Preferred stock dividends		(319	)
Basic income per share:
Income available to common stockholders	$	3,706			22,986	$	0.16
Add: Warrants		–			1,321
Diluted income per share:
Income available to common stockholders	$	3,706			24,307	$	0.15

	Nine Months Ended September 30, 2015
	Loss Numerator			Shares Denominator		Per-Share Amount
Net loss attributed to Pacific Ethanol	$	(18,033	)
Less: Preferred stock dividends		(946	)
Basic and diluted loss per share:
Loss available to common stockholders	$	(18,979	)		30,170	$	(0.63	)

	Nine Months Ended September 30, 2014
	Income Numerator			Shares Denominator		Per-Share Amount
Net income attributed to Pacific Ethanol	$	8,771
Less: Preferred stock dividends		(946	)
Basic income per share:
Income available to common stockholders	$	7,825			19,713	$	0.40
Add: Warrants		–			2,360
Diluted income per share:
Income available to common stockholders	$	7,825			22,073	$	0.35

There were an aggregate of 897,000 and 786,000 potentially dilutive weighted-average shares from the Company’s warrants and shares of Series B Cumulative Convertible Preferred Stock outstanding for the three and nine months ended September 30, 2015, respectively. These convertible securities were not considered in calculating diluted net income (loss) per share for the three and nine months ended September 30, 2015, as their effect would have been anti-dilutive.