| Year Ended December 31, | ||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
| Earnings: | ||||||||||||||||||||
| Net income (loss) attributed to Pacific Ethanol, Inc. | $ | 3,074 | $ | 73,892 | $ | (308,153 | ) | $ | (146,547 | ) | $ | (14,400 | ) | |||||||
| Add: | ||||||||||||||||||||
| Fixed Charges | 16,492 | 11,166 | 21,113 | 38,135 | 28,023 | |||||||||||||||
| Amortization of capitalized interest | 176 | 147 | 407 | 227 | 21 | |||||||||||||||
| Equity earnings in unconsolidated subsidiaries | — | 929 | — | — | — | |||||||||||||||
| Less: | ||||||||||||||||||||
| Captialized Interest | — | — | — | (9,187 | ) | (8,494 | ) | |||||||||||||
| Preferred Dividends | (1,265 | ) | (2,847 | ) | (3,202 | ) | (4,864 | ) | (4,228 | ) | ||||||||||
| Total Earnings | $ | 18,477 | $ | 83,287 | $ | (289,835 | ) | $ | (122,236 | ) | $ | 922 | ||||||||
| Fixed charges: | ||||||||||||||||||||
| Interest Expense, net | $ | 14,162 | $ | 7,488 | $ | 16,300 | $ | 21,533 | $ | 10,257 | ||||||||||
| Capitalized interest | — | — | — | 9,186 | 8,494 | |||||||||||||||
| Amortization of deferred financing fees | 651 | 543 | 1,193 | 2,018 | 4,726 | |||||||||||||||
| Estimate of interest component in rent expense | 414 | 288 | 418 | 534 | 318 | |||||||||||||||
| Preferred dividends | 1,265 | 2,847 | 3,202 | 4,864 | 4,228 | |||||||||||||||
| Total Fixed Charges | $ | 16,492 | $ | 11,166 | $ | 21,113 | $ | 38,135 | $ | 28,023 | ||||||||||
| Ratio of Earnings to Fixed Charges | 1.12x | 7.46x | — | — | 0.3x | |||||||||||||||
| Excess (Deficiency) of Earnings Available to Cover Fixed Charges | $ | 1,985 | $ | 72,121 | $ | (310,948 | ) | $ | (160,371 | ) | $ | (27,101 | ) | |||||||
