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15. PLANT OWNERS CONDENSED COMBINED FINANCIAL STATEMENTS (Dec 2011 only) | 12 Months Ended
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Dec. 31, 2011
Notes to Financial Statements |
15. PLANT OWNERS CONDENSED COMBINED FINANCIAL STATEMENTS (Dec 2011 only) | Since the consolidated financial statements of the Company include entities other than the Plant Owners, below are the condensed combined financial statements of the Plant Owners for the periods included in these consolidated financial statements during the pendency of their Chapter 11 Filings. These condensed combined financial statements have been prepared, in all material respects, on the same basis as the consolidated financial statements of the Company. The condensed combined financial statements of the Plant Owners during the pendency of their Chapter 11 Filings are as follows (unaudited, in thousands): PACIFIC ETHANOL HOLDING CO. LLC AND SUBSIDIARIES CONDENSED COMBINED STATEMENTS OF OPERATIONS January 1, 2010 to June 29, 2010
Net sales |  | $ | 89,737 |
Cost of goods sold |  |  | 98,140 |
Gross loss |  |  | (8,403 | )
Selling, general and administrative expenses |  |  | 1,829 |
Loss from operations |  |  | (10,232 | )
Other expense, net |  |  | (1,253 | )
Loss before reorganization costs and gain from bankruptcy exit |  |  | (11,485 | )
Reorganization costs |  |  | (4,153 | )
Gain from bankruptcy exit |  |  | 119,408 |
Net income |  | $ | 103,770 |
PACIFIC ETHANOL HOLDING CO. LLC AND SUBSIDIARIES CONDENSED COMBINED STATEMENTS OF CASH FLOWS January 1, 2010 to June 29, 2010
Operating Activities: |  |  |
Net income |  | $ | 103,770 |
Adjustments to reconcile net income to ash used in operating activities: |  |  |  |
Gain on bankruptcy exit |  |  | (119,408 | )
Depreciation and amortization of intangibles |  |  | 5,064 |
Gain on derivative instruments |  |  | (1,206 | )
Amortization of deferred financing costs |  |  | 85 |
Changes in operating assets and liabilities: |  |  |  |
Accounts receivable |  |  | (5,059 | )
Inventories |  |  | 2,948 |
Prepaid expenses and other assets |  |  | 159 |
Accounts payable and accrued expenses |  |  | 6,839 |
Net cash used in operating activities |  | $ | (6,808 | )
Investing Activities: |  |  |  |
Additions to property and equipment |  | $ | (310 | )
Net cash impact of bankruptcy exit |  |  | (1,301 | )
Net cash used in investing activities |  | $ | (1,611 | )
Financing Activities: |  |  |  |
Proceeds from borrowings under DIP financing |  | $ | 5,173 |
Net cash provided by financing activities |  | $ | 5,173 |
Net decrease in cash and cash equivalents |  |  | (3,246 | )
Cash and cash equivalents at beginning of period |  |  | 3,246 |
Cash and cash equivalents at end of period |  | $ | — |

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