10. Earnings Per Share

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Earnings Per Share

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

	Three Months Ended June 30, 2016
	Income Numerator			Shares Denominator		Per-Share Amount
Net income attributed to Pacific Ethanol	$	5,086
Less: Preferred stock dividends		(315	)
Less: Income allocated to participating securities		(71	)
Basic income per share:
Income available to common stockholders	$	4,700			42,191	$	0.11
Add: Options		–			38
Diluted income per share:
Income available to common stockholders	$	4,700			42,229	$	0.11

	Three Months Ended June 30, 2015
	Income Numerator			Shares Denominator		Per-Share Amount
Net income attributed to Pacific Ethanol	$	1,010
Less: Preferred stock dividends		(315	)
Less: Income allocated to participating securities		(18	)
Basic income per share:
Income available to common stockholders	$	677			24,268	$	0.03
Add: Options		–			569
Diluted income per share:
Income available to common stockholders	$	677			24,837	$	0.03

	Six Months Ended June 30, 2016
	Loss Numerator			Shares Denominator		Per-Share Amount
Net loss attributed to Pacific Ethanol	$	(8,140	)
Less: Preferred stock dividends		(630	)
Basic and diluted loss per share:
Loss available to common stockholders	$	(8,770	)		42,121	$	(0.21	)

	Six Months Ended June 30, 2015
	Loss Numerator			Shares Denominator		Per-Share Amount
Net loss attributed to Pacific Ethanol	$	(3,370	)
Less: Preferred stock dividends		(627	)
Basic and diluted loss per share:
Loss available to common stockholders	$	(3,997	)		24,589	$	(0.16	)

There were an aggregate of 1,692,000 and 1,621,000 potentially dilutive weighted-average shares from the Company’s warrants and shares of Series B Cumulative Convertible Preferred Stock outstanding for the three and six months ended June 30, 2016, respectively. These convertible securities were not considered in calculating diluted net income (loss) per share for the six months ended June 30, 2016, as their effect would have been anti-dilutive.