Pacific Ethanol, Inc. PEIX Cash Flow

Pacific ethanol, inc. (PEIX)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Operating Activities:
Consolidated net loss
-27,156	-49,758	-29,073	-8,290	-14,161	-34,531	-9,304	-14,604	-9,497	-14,110	-541	-9,938	-13,485	13,184	-3,518	5,086	-13,226	-753	-14,663	1,052	-4,509	13,105	4,748	16,966	-8,817	9,745	-5,435	1,130	-6,602	-9,611	-9,721	-10,032	-13,991	762	4,569	-4,675	-4,679
Adjustments to reconcile consolidated net loss to net cash provided by operating activities:
Depreciation
9,759	-	-	-	12,126	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization (accretion) of debt discount (premium)
-57	150	182	179	178	181	182	179	178	182	181	137	136	1,392	320	309	301	333	284	55	44	0	51	207	1,557	397	164	486	225	-	-	-	-	-	-	-	-
Non-cash compensation
865	706	585	718	800	859	884	959	736	843	827	937	1,221	728	707	598	583	554	550	409	506	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value adjustments on convertible debt and warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	591	4,113	1,929	926
Warrant fair value adjustments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	33	-	-	-	-
Amortization of debt discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Amortization of deferred financing fees
305	-55	294	137	135	146	146	143	465	164	150	98	91	40	22	21	54	94	57	61	60	78	62	965	112	388	1,105	408	108	281	128	163	164	166	166	160	159
Fair value adjustments
-673	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value adjustments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-94	-	-	-	-	-	-	-	-
Depreciation and amortization of intangibles
-	-	-	-	-	10,214	10,217	10,254	10,164	10,165	10,078	9,298	9,110	8,915	8,856	9,019	8,651	8,529	8,355	3,339	3,409	3,411	3,337	3,265	3,173	3,157	3,020	2,985	2,974	-	-	-	-	-	-	-	-
Deferred income taxes
-	-	-	-	-	590	0	0	-563	-	0	0	0	-	-	-	-	-	-	-	-	-	-2,683	-396	3,270	-	0	0	0	-	-	-	-	-	-	-	-
Interest expense added to term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	5,665	3,786	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value adjustments
-	-	-	-	-	-	-	-	-	0	0	-18	-455	504	69	23	-39	-228	-1,202	-384	173	-	-	-	35,844	-	-	-	-	-	-	-	-	-	-	-	-
Loss on extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,240	-2,573	-39	817	0	0	0	0	-	-	-	-
Inventory valuation
4,223	-	-	-	-	-	-	-	-	-	-	-1,830	2,086	-	-	0	0	-	-	-	-	-	-	-	97	-	-	-	0	-	-	-	-	-	-	-	-
Interest added to debt
133	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on derivatives
-	-1,010	-3,320	4,971	-86	-2,352	-992	-2,908	-462	-	-484	-568	216	-	860	227	582	-	-1,075	-666	189	-	-	-	-	-	-	-	-	-	-	-	-	-	-	89	-28
Depreciation and amortization of intangibles
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,989	3,093	3,134	-	3,171	3,183	3,136
Interest expense added to plant owners' debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,276	2,135	1,407	0	0	-	-	-	-
Non-cash compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	568	376	367	-	345	335	630	-	155	254	296	300	453	756	769
Loss (gain) on derivatives
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	70	-	-	-	-5	-	456	-119	-135	-	-	-	-
Bad debt expense
19	0	0	1	26	1	-1	-2	47	-	-	-	-	-	-	-	-	-	-	-	-	-	-6	0	-34	-	39	-16	208	9	-15	-2	2	-	-	-10	-130
Changes in operating assets and liabilities:
Bad debt expense
-	-	-	-	-	-	-	-	-	-	2	-5	7	-	39	30	256	-	-360	3	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable
-22,024	6,328	1,283	-10,883	9,970	-7	-4,875	-1,701	-6,080	8,063	14,210	-17,585	-22,250	17,432	-3,083	8,562	2,324	9,970	11,998	-13,288	7,270	4,136	-12,595	-8,363	16,096	8,132	-9,051	4,007	6,326	-1,453	-4,503	4,845	-984	137	6,082	-1,932	-6,354
Inventories
-10,845	-1,909	-14,981	14,759	4,911	2,704	-12,539	-2,957	8,712	-6,961	-1,382	3,212	61	-4,918	-940	-3,334	8,442	13,091	-116	-388	709	-1,465	-6,595	-814	5,008	4,657	-5,420	1,613	1,300	2,411	-1,310	-1,868	1,696	6,408	-1,735	-2,368	-1,177
Prepaid expenses and other assets
339	-4,361	2,158	-2,877	-5,117	1,426	1,017	2,807	-1,370	-480	-6,651	2,042	2,412	2,314	-594	530	-5,439	-306	-107	4,363	-2,857	9,552	1,324	-2,976	-82	644	1,476	273	-53	-	-	-	-	-565	-947	216	363
Prepaid expenses and other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,750	877	1,393	-	-	-	-
Prepaid inventory
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	242	-3,461	5,473	-2,974	1,083	4,894	-3,306	4,222	-673	-6,353	1,169	2,040	-3,058	-40	-3,860	434
Prepaid inventory
181	-1,663	-71	-1,878	2,050	1,648	-354	-1,813	328	-	-4,883	2,519	-2,033	-	-2,689	4,311	35	-	3,086	-6,745	3,164	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating leases
2,348	2,515	2,477	2,493	2,676	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Assets held-for-sale
-1,624	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Liabilities held-for-sale
-9,370	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued liabilities
-1,512	3,736	2,080	-8,676	273	1,798	1,304	-7,505	8,508	-1,543	10,278	-6,060	-8,213	12,068	982	-4,187	416	-1,025	-7,920	-268	-832	3,900	-7,329	-143	5,425	5,751	-1,891	-1,399	6,428	-3,956	1,169	-684	3,600	-6,278	-884	2,275	2,529
Net cash provided by operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,268	-5,162	-	-	-	-	12,082	24,920	28,454	22,876	9,314	8,618	2,709	-6,454	-	-	-	-	-	-	-	-
Net cash provided by (used in) operating activities
26,901	3,840	-1,449	-10,727	-15,027	-24,511	21,171	-4,004	8,910	1,509	19,909	2,999	12,092	-	-	-	-	-	-	-	7,326	-	-	-	-	-	-	-	-	-	-5,080	-3,590	-2,752	3,610	6,439	-8,095	-5,904
Investing Activities:
Additions to property and equipment
1,245	1,137	608	424	1,112	4,280	3,534	2,983	4,357	8,518	6,119	2,118	4,111	5,126	6,560	2,519	4,966	2,827	5,514	3,988	8,178	3,263	3,461	4,702	1,833	2,057	1,018	609	309	158	510	709	896	906	95	1,084	280
Purchases of PE Op Co. ownership interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	504	0	197	1,639	0	10,000	0	0	-	-	-	-
Net cash used in investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,491	-4,966	-	-	-	-	2,737	-9,461	-4,702	-1,833	-2,561	-1,018	-806	-1,948	-	-	-	-	-	-	-	-
Net cash used in investing activities
-1,245	-1,137	-608	-424	-1,112	-4,280	-3,534	-2,983	-4,357	-9,171	-35,040	-2,118	-4,111	-	-	-	-	-	-	-	-8,178	-	-	-	-	-	-	-	-	-	-10,510	-709	-896	-10,023	-95	-1,084	-280
Financing Activities:
Proceeds from assessment financing
-	-	-	-	-	1,315	0	397	331	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from warrant and option exercises
-	-	-	-	-	-	-	-	-	0	512	653	37	1,164	0	0	0	0	0	177	191	1,020	24,416	6,110	12,130	0	0	0	2,064	0	0	0	0	-	-	-	-
Proceeds from assessment financing
-	-	-	-	-	-	-	-	-	4,474	1,144	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from Series A Convertible Notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,000	-	-	-	0	-	-	-	-
Proceeds from plant borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,000	1,000	0	4,000	7,500	4,500	6,022	6,000	-10,133	632	10,561	5,898
Net proceeds (payments) from Kinergy's line of credit
-18,156	-1,347	1,748	7,728	13,153	-2,302	-12,671	13,829	8,722	5,504	-11,184	6,653	-1,358	-	-	-	-	-	-	-	-	4,058	-7,899	-1,736	4,065	-70	-3,723	2,277	847	-	-	-	-	-	-	-	-
Proceeds from senior notes and warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	22,192	0	0	0	0	-	-	-	-
Proceeds from issuance of common stock
282	0	0	0	3,670	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of Plant Owners' debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-1,916	-23,357	0	0	0	0	-	-	-	-
Net payments on Kinergy's line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,031	-	-	-	17,530	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on borrowings
-	-	5,000	1,500	5,248	-	11,000	1,500	5,000	-	50,427	3,500	1,000	-	0	0	17,003	-	13,833	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on plant borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,414	0	16,000	19,378	8,493	1,000	4,122	3,500	-	-	-	-	-	-	-	-
Principal Payments on Senior Notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Net payments on Kinergys' line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,420	-723	-5,970	-	-	-	-
Principal Payments on Plant Owners' borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Payments on senior notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	977	13,007	905	924	2,499	1,880	-	-	-	-	-	-	-	-
Debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-516	-1,044	-1,166	0	0	0	-	-	-	-
Payment on related party note
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	750	0	0	0	0	-	-	-	-	-	-	-	-
Preferred stock dividends paid
-	0	319	315	312	319	319	315	312	319	319	315	312	320	319	315	315	319	319	315	312	2,513	319	315	312	319	319	315	312	319	949	-315	315	-	-	-	-
Payments on capital leases
-	-	-	-	-	11	135	223	403	38	202	196	190	3,938	1,072	1,051	1,028	1,660	609	1,483	1,307	1,144	1,322	1,354	1,096	1,175	442	23	0	-	-	-	-	-	-	-	-
Debt issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	14	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,707	-23,377	-	-	-	-	-8,991	14,874	-5,675	-18,348	-10,777	-5,408	886	5,010	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
-17,874	-2,627	4,465	5,913	11,263	-675	-24,125	12,188	3,338	4,559	-19,400	16,839	-2,837	-	-	-	-	-	-	-	-18,958	-	-	-	-	-	-	-	-	-	28,595	4,984	-285	-1,481	632	10,561	5,898
Net increase (decrease) in cash and cash equivalents
7,782	76	2,408	-5,238	-4,876	-29,466	-6,488	5,201	7,891	-3,103	-34,531	17,720	5,144	24,782	8,966	12,466	-33,505	-1,495	3,794	6,988	-19,810	5,828	30,333	18,077	2,695	-4,024	2,192	2,789	-3,392	-11,085	13,005	685	-3,933	-7,894	6,976	1,382	-286
Supplemental Information:
Interest paid
1,968	4,886	4,789	4,828	4,260	3,848	3,701	4,005	3,593	2,842	3,439	2,449	2,403	-	-	-	-	-	-	-	-	990	1,086	1,808	2,712	2,921	3,122	735	737	1,324	1,807	2,908	2,789	3,622	2,518	2,849	2,680
Accrued preferred stock dividends
315	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	525	2,070	-	4,132	942	969	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax refunds
-	-	-	-	-	0	575	0	168	13	5,598	0	3	0	0	250	4,534	5,710	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncash financing and investing activities:
Initial right of use assets and liabilities recorded under ASC 842
-	0	0	0	43,753	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock dividends paid in common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3	1,463	0	732	-	-	-	-	-	-	-	-
Preferred stock dividends accrued
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	312
Preferred stock dividends paid in common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	732	0	0	0	-14,700	7,700	7,000
Reclass of warrant liability to equity upon exercises
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	602	20,876	8,631	11,377	0	0	0	260	113	0	-112	112	-	-	-	-
Reclass of noncontrolling interest to APIC upon acquisitions of ownership interests in New PE Holdco
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,646	0	0	0	-	-	-	-
Reclass of noncontrolling interest to APIC upon acquisitions of ownership positions in New PE Holdco
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	926	8,161	-	-	-	-	-	-	-	-
Original discount on senior and convertible debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	3,618	4,940	-	-	-	0	-	-	-	-