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PARENT COMPANY FINANCIALS. | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
PARENT COMPANY FINANCIALS. |
| 17. | PARENT COMPANY FINANCIALS.
Restricted Net Assets – At December 31, 2019, the Company had approximately $180,900,000 of net assets at its subsidiaries that were not available to be transferred to Pacific Ethanol in the form of dividends, distributions, loans or advances due to restrictions contained in the credit facilities of these subsidiaries. Parent company financial statements for the periods covered in this report are set forth below.
|  | December 31, |
ASSETS |  | 2019 |  |  | 2018 |
Current Assets: |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 4,985 |  |  | $ | 6,759 |
Receivables from subsidiaries |  |  | 13,057 |  |  |  | 17,156 |
Other current assets |  |  | 2,349 |  |  |  | 1,659 |
Total current assets |  |  | 20,391 |  |  |  | 25,574 |
Property and equipment, net |  |  | 269 |  |  |  | 522 |
Other Assets: |  |  |  |  |  |  |  |
Investments in subsidiaries |  |  | 218,464 |  |  |  | 286,666 |
Right of use lease assets |  |  | 3,253 |  |  |  | — |
Pacific Ethanol West plant receivable |  |  | 55,750 |  |  |  | 58,766 |
Other assets |  |  | 1,452 |  |  |  | 1,437 |
Total other assets |  |  | 278,919 |  |  |  | 346,869 |
Total Assets |  | $ | 299,579 |  |  | $ | 372,965 |
Current Liabilities: |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | 5,907 |  |  | $ | 2,469 |
Accrued PE Op Co. purchase |  |  | 3,829 |  |  |  | 3,829 |
Current portion of long-term debt |  |  | 10,000 |  |  |  | 66,255 |
Other current liabilities |  |  | 659 |  |  |  | 385 |
Total current liabilities |  |  | 20,395 |  |  |  | 72,938 |
Long-term debt, net |  |  | 56,110 |  |  |  | — |
Deferred tax liabilities |  |  | 253 |  |  |  | 251 |
Other liabilities |  |  | 3,041 |  |  |  | 9 |
Total Liabilities |  |  | 79,799 |  |  |  | 73,198 |
Stockholders' Equity: |  |  |  |  |  |  |  |
Preferred stock |  |  | 1 |  |  |  | 1 |
Common and non-voting common stock |  |  | 56 |  |  |  | 46 |
Additional paid-in capital |  |  | 942,307 |  |  |  | 932,179 |
Accumulated other comprehensive loss |  |  | (2,370 | ) |  |  | (2,459 | )
Accumulated deficit |  |  | (720,214 | ) |  |  | (630,000 | )
Total Pacific Ethanol, Inc. stockholders' equity |  |  | 219,780 |  |  |  | 299,767 |
Total Liabilities and Stockholders' Equity |  | $ | 299,579 |  |  | $ | 372,965 |
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |
Management fees from subsidiaries |  | $ | 12,682 |  |  | $ | 12,408 |
Selling, general and administrative expenses |  |  | 16,007 |  |  |  | 16,795 |
Loss from operations |  |  | (3,325 | ) |  |  | (4,387 | )
Loss on debt extinguishment |  |  | (6,517 | ) |  |  | — |
Interest income |  |  | 4,600 |  |  |  | 4,703 |
Interest expense |  |  | (9,637 | ) |  |  | (8,678 | )
Other expense, net |  |  | (86 | ) |  |  | (74 | )
Loss before provision (benefit) for income taxes |  |  | (14,965 | ) |  |  | (8,436 | )
Benefit for income taxes |  |  | 20 |  |  |  | 562 |
Loss before equity in earnings of subsidiaries |  |  | (14,945 | ) |  |  | (7,874 | )
Equity in losses of subsidiaries |  |  | (74,004 | ) |  |  | (52,399 | )
Consolidated net loss |  | $ | (88,949 | ) |  | $ | (60,273 | )
|  | For the Years Ended December 31, |
|  | 2019 |  |  | 2018 |
Operating Activities: |  |  |  |  |  |  |  |
Net loss |  | $ | (88,949 | ) |  | $ | (60,273 | )
Adjustments to reconcile net loss to cash provided by (used in) operating activities: |  |  |  |  |  |  |  |
Equity in losses of subsidiaries |  |  | 74,004 |  |  |  | 52,399 |
Dividends from subsidiaries |  |  | — |  |  |  | 25,000 |
Depreciation |  |  | 267 |  |  |  | 567 |
Loss on debt extinguishment |  |  | 6,517 |  |  |  | — |
Deferred income taxes |  |  | — |  |  |  | 27 |
Amortization of debt discounts |  |  | 689 |  |  |  | 720 |
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |
Accounts receivables |  |  | — |  |  |  | (9,018 | )
Other assets |  |  | 3,277 |  |  |  | 100 |
Accounts payable and accrued expenses |  |  | 2,673 |  |  |  | 740 |
Accounts receivable with subsidiaries |  |  | 2,115 |  |  |  | — |
Accounts payable with subsidiaries |  |  | (49 | ) |  |  | 2,409 |
Net cash provided by (used in) operating activities |  | $ | 544 |  |  | $ | 12,671 |
Investing Activities: |  |  |  |  |  |  |  |
Additions to property and equipment |  | $ | (14 | ) |  | $ | (18 | )
Investments in subsidiaries |  |  | — |  |  |  | (10,000 | )
Net cash used in investing activities |  | $ | (14 | ) |  | $ | (10,018 | )
Financing Activities: |  |  |  |  |  |  |  |
Proceeds from issuance of common stock |  | $ | 3,670 |  |  | $ | 2,057 |
Debt issuances costs |  |  | (1,280 | ) |  |  | — |
Payments on senior notes |  |  | (3,748 | ) |  |  | (2,000 | )
Preferred stock dividend payments |  |  | (946 | ) |  |  | (1,265 | )
Net cash provided by (used in) financing activities |  | $ | (2,304 | ) |  | $ | (1,208 | )
Net increase (decrease) in cash and cash equivalents |  |  | (1,774 | ) |  |  | 1,445 |
Cash and cash equivalents at beginning of period |  |  | 6,759 |  |  |  | 5,314 |
Cash and cash equivalents at end of period |  | $ | 4,985 |  |  | $ | 6,759 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 + Details
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