17. PARENT COMPANY FINANCIALS (Tables)

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Balance Sheets - Parent Company Only

	December 31,
	2016			2015
Cash and cash equivalents	$	11,060		$	20,618
Receivables from subsidiaries		7,203			14,505
Other current assets		6,442			11,361
Total current assets		24,705			46,484
Property and equipment, net		1,433			1,695
Investments in subsidiaries		363,401			301,416
Pacific Ethanol West plant receivable		58,766			41,763
Other assets		1,110			838
Total other assets		423,277			344,017
Total Assets	$	449,415		$	392,196
Accounts payable and accrued liabilities	$	1,758		$	1,963
Payables to subsidiaries		1,568			13,230
Accrued PE Op Co. purchase		3,829			3,828
Other current liabilities		183			–
Total current liabilities		7,338			19,021
Long Term debt, net		53,360			–
Warrant liabilities at fair value		651			273
Deferred tax liabilities		52			1,174
Other liabilities		124			184
Total Liabilities		61,525			20,652
Preferred stock		1			1
Common stock		40			39
Non-voting common stock		4			4
Additional paid-in capital		922,698			902,843
Accumulated other comprehensive income (expense)		(2,620	)		1,040
Accumulated deficit		(532,233	)		(532,383	)
Total Pacific Ethanol, Inc. stockholders' equity		387,890			371,544
Total Liabilities and Stockholders' Equity	$	449,415		$	392,196

Statements Of Operations Parent Company Only

	Years Ended December 31,
	2016			2015			2014
Management fees from subsidiaries	$	12,968		$	9,857		$	12,731
Selling, general and administrative expenses		14,491			14,336			12,779
Asset impairment		–			1,970			–
Loss from operations		(1,523	)		(6,449	)		(48	)
Fair value adjustments and warrant inducements		(557	)		1,641			(37,532	)
Interest income		5,964			5,739			4,753
Interest expense		(240	)		(27	)		(1,813	)
Loss on extinguishments of debt		–			–			(2,363	)
Other income		1,931			–			–
Income (loss) before provision for income taxes		5,575			904			(37,003	)
Provision (benefit) for income taxes		(981	)		(10,034	)		15,137
Income (loss) before equity in earnings of subsidiaries		6,556			10,938			(52,140	)
Equity in earnings (losses) of subsidiaries		(5,137	)		(29,724	)		73,429
Consolidated net income (loss)	$	1,419		$	(18,786	)	$	21,289

Statements Of Cash Flows Parent Company Only

	2016			2015			2014
Operating Activities:
Net income (loss)	$	1,419		$	(18,786	)	$	21,289
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:
Equity in earnings (losses) of subsidiaries		5,137			29,724			(73,429	)
Depreciation and amortization		727			390			126
Fair value adjustments		557			(1,641	)		35,260
Loss on extinguishments of debt		–			–			2,363
Asset impairment		–			1,970			–
Deferred income taxes		(1,122	)		(14,260	)		5,128
Amortization of debt discount		10			–			1,674
Changes in operating assets and liabilities:
Accounts receivables		7,302			(5,958	)		(7,001	)
Other assets		4,647			(4,139	)		1,365
AP and accruals		(3,741	)		604			(587	)
Accounts payable with subsidiaries		(9,385	)		11,179			5,846
Net cash provided by (used in) provided by operating activities	$	5,551		$	(917	)	$	(7,966	)
Investing Activities:
Additions to property and equipment	$	(465	)	$	(1,483	)	$	(455	)
Purchases of investments in subsidiaries		–			–			(6,000	)
Investments in subsidiaries		(50,886	)		–			–
Purchase of PE OP Co. debt		(17,003	)		–			(17,038	)
Net cash used in investing activities	$	(68,354	)	$	(1,483	)	$	(23,493	)
Financing Activities:
Proceeds from issuance of senior notes	$	53,350		$	–		$	–
Proceeds from exercise of warrants		1,164			368			43,676
Preferred stock dividends		(1,269	)		(1,265	)		(3,459	)
Proceeds from equity raise		–			–			26,073
Payment on related party note		–			–			(750	)
Payments on senior notes		–			–			(13,984	)
Net cash provided by (used in) financing activities	$	53,245		$	(897	)	$	51,556
Net increase (decrease) increase in cash and equivalents		(9,558	)		(3,297	)		20,097
Cash and equivalents at beginning of period		20,618			23,915			3,818
Cash and equivalents at ending of period	$	11,060		$	20,618		$	23,915