1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2016

Organization And Significant Accounting Policies Tables

Concentrations of Credit Risk Major Customers

	Years Ended December 31,
	2016		2015		2014
Customer A		17%		12%		20%
Customer B		12%		15%		20%
Customer C		6%		12%		11%

Purchases from external customers

	Years Ended December 31,
	2016		2015		2014
Supplier A		13%		19%		26%
Supplier B		13%		13%		11%
Supplier C		8%		9%		15%

Schedule of inventory

	December 31,
	2016		2015
Finished goods	$	33,773	$	31,153
LCFS credits		10,926		6,957
Raw materials		6,571		9,891
Work in progress		7,092		11,121
Other		1,708		1,698
Total	$	60,070	$	60,820

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, 2016
	Income Numerator			Shares Denominator		Per-Share Amount
Net income attributed to Pacific Ethanol	$	1,419
Less: Preferred stock dividends		(1,269	)
Less: Allocated to participating securities		(2	)
Basic income per share:
Income available to common stockholders	$	148			42,182	$	0.00
Add: Options		–			69
Diluted income per share:
Income available to common stockholders	$	148			42,251	$	0.00

	Year Ended December 31, 2015
	Loss Numerator			Shares Denominator		Per-Share Amount
Net loss attributed to Pacific Ethanol	$	(18,786	)
Less: Preferred stock dividends		(1,265	)
Basic and Diluted loss per share:
Loss available to common stockholders	$	(20,051	)		33,173	$	(0.60	)

	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	)
Less: Allocated to participating securities		(585	)
Basic income per share:
Income available to common stockholders	$	19,439			20,810	$	0.93
Add: Warrants		–			1,859
Diluted income per share:
Income available to common stockholders	$	19,439			22,669	$	0.86