Alto Ingredients (ALTO) 10-K 30 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 27, 2020	Jun. 28, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	Pacific Ethanol, Inc.
Entity Central Index Key	0000778164
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Emerging Growth Company	false
Entity Filer Category	Non-accelerated Filer
Entity Reporting Status Current	Yes
Entity Small Business	true
Entity Shell Company	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Entity Public Float			$ 36,400,000
Entity Common Stock, Shares Outstanding		55,893,014
Entity File Number	000-21467
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current Assets:
Cash and cash equivalents	$ 18,997	$ 26,627
Accounts receivable, net of allowance for doubtful accounts of $39 and $12, respectively	74,307	67,636
Inventories	60,600	57,820
Prepaid inventory	1,528	3,090
Derivative assets	2,438	1,765
Assets held-for-sale	69,764
Other current assets	4,430	11,866
Total current assets	232,064	168,804
Property and equipment, net	332,526	482,657
Other Assets:
Right of use operating lease assets, net	24,346
Assets held-for-sale	16,500
Intangible asset	2,678	2,678
Other assets	4,381	5,842
Total other assets	47,905	8,520
Total Assets	612,495	659,981
Current Liabilities:
Accounts payable - trade	29,277	48,176
Accrued liabilities	22,331	23,421
Current portion - operating leases	3,457
Current portion - long-term debt, net	63,000	146,671
Derivative liabilities	1,860	6,309
Liabilities held-for-sale	34,413
Other current liabilities	6,060	7,282
Total current liabilities	160,398	231,859
Long-term debt, net of current portion	180,795	84,767
Operating leases, net of current portion	21,171
Other liabilities	23,086	23,990
Total Liabilities	385,450	340,616
Commitments and contingencies (Notes 1, 8, 9, 10 and 15)
Stockholders' Equity:
Common stock, $0.001 par value; 300,000,000 shares authorized; 55,508,314 and 45,771,422 shares issued and outstanding as of December 31, 2019 and 2018, respectively	56	46
Non-voting common stock, $0.001 par value; 3,553,000 shares authorized; 896 shares issued and outstanding as of December 31, 2019 and 2018
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
Noncontrolling interests	7,265	19,598
Total stockholders' equity	227,045	319,365
Total Liabilities and Stockholders' Equity	612,495	659,981
Series A Preferred Stock
Stockholders' Equity:
Preferred stock, value
Series B Preferred Stock
Stockholders' Equity:
Preferred stock, value	$ 1	$ 1

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Accounts receivable, net of allowance	$ 39	$ 12
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized	10,000,000	10,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	300,000,000	300,000,000
Common stock, issued	55,508,314	45,771,422
Common stock, outstanding	55,508,314	45,771,422
Series A Preferred Stock
Preferred stock, authorized	1,684,375	1,684,375
Preferred stock, issued
Preferred stock, outstanding
Series B Preferred Stock
Preferred stock, authorized	1,580,790	1,580,790
Preferred stock, issued	926,942	926,942
Preferred stock, outstanding	926,942	926,942
Liquidation preference	$ 18,394
Nonvoting Common Stock
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	3,553,000	3,553,000
Common stock, issued	896	896
Common stock, outstanding	896	896

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net sales	$ 1,424,881	$ 1,515,371
Cost of goods sold	1,434,819	1,530,535
Gross loss	(9,938)	(15,164)
Selling, general and administrative expenses	35,453	36,373
Asset impairment	29,292
Loss from operations	(74,683)	(51,537)
Loss on debt extinguishment	(6,517)
Interest expense, net	(20,206)	(17,132)
Other income, net	104	171
Loss before benefit for income taxes	(101,302)	(68,498)
Benefit for income taxes	20	562
Consolidated net loss	(101,282)	(67,936)
Net loss attributed to noncontrolling interests	12,333	7,663
Net loss attributed to Pacific Ethanol, Inc.	(88,949)	(60,273)
Preferred stock dividends	(1,265)	(1,265)
Loss available to common stockholders	$ (90,214)	$ (61,538)
Loss per share, basic and diluted	$ (1.9)	$ (1.42)
Weighted-average shares outstanding, basic and diluted	47,384	43,376

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Consolidated net loss	$ (101,282)	$ (67,936)
Other comprehensive income (expense) - net gain (loss) arising during the period on defined benefit pension plans	89	(225)
Total comprehensive loss	(101,193)	(68,161)
Comprehensive loss attributed to noncontrolling interests	12,333	7,663
Comprehensive loss attributed to Pacific Ethanol, Inc.	$ (88,860)	$ (60,498)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accum. Other Comprehensive Income (Loss)	Non-Controlling Interests	Total
Balance at Beginning at Dec. 31, 2017	$ 1	$ 44	$ 927,090	$ (568,462)	$ (2,234)	$ 27,261	$ 383,700
Balance at Beginning (in shares) at Dec. 31, 2017	927	43,986
Stock-based compensation expense - restricted stock and options to employees and directors, net of cancellations and tax		$ 1	3,033				3,034
Stock-based compensation expense - restricted stock and options to employees and directors, net of cancellations and tax, Shares		947
Common stock issuances		$ 1	2,056				2,057
Common stock issuances (in shares)		838
Pension plan adjustment					(225)		(225)
Preferred stock dividends				(1,265)			(1,265)
Net loss				(60,273)		(7,663)	(67,936)
Balance at End at Dec. 31, 2018	$ 1	$ 46	932,179	(630,000)	(2,459)	19,598	319,365
Balance at End (in shares) at Dec. 31, 2018	927	45,771
Stock-based compensation expense - restricted stock and options to employees and directors, net of cancellations and tax		$ 1	2,650				2,651
Stock-based compensation expense - restricted stock and options to employees and directors, net of cancellations and tax, Shares		1,069
Common stock issuances ATM		$ 3	3,667				3,670
Common stock issuances ATM, Shares		3,137
Senior Notes Amendment: Stock Issuance		$ 6	3,811				3,817
Senior Notes Amendment: Stock Issuance, Shares		5,531
Pension plan adjustment					89		89
Preferred stock dividends				(1,265)			(1,265)
Net loss				(88,949)		(12,333)	(101,282)
Balance at End at Dec. 31, 2019	$ 1	$ 56	$ 942,307	$ (720,214)	$ (2,370)	$ 7,265	$ 227,045
Balance at End (in shares) at Dec. 31, 2019	927	55,508

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Operating Activities:
Consolidated net loss	$ (101,282)	$ (67,936)
Adjustments to reconcile consolidated net loss to cash provided by (used in) operating activities:
Depreciation and amortization of intangibles	47,909	40,849
Asset impairment	29,292
Loss on debt extinguishment	6,517
Deferred income taxes	2	27
Inventory valuation		(350)
(Gain) loss on derivative instruments	(555)	6,714
Amortization of deferred financing costs	511	900
Amortization of debt discounts	689	720
Noncash compensation	2,809	3,438
Bad debt expense	27	45
Interest expense added to Senior Notes	1,185
Changes in operating assets and liabilities:
Accounts receivable	(6,698)	12,663
Inventories	(2,780)	4,080
Prepaid expenses and other assets	10,197	(3,880)
Prepaid inventory	1,562	191
Operating leases	(10,161)
Accounts payable and accrued expenses	(2,587)	4,105
Net cash provided by (used in) operating activities	(23,363)	1,566
Investing Activities:
Additions to property and equipment	(3,281)	(15,154)
Net cash used in investing activities	(3,281)	(15,154)
Financing Activities:
Proceeds from issuances of common stock	3,670	2,057
Proceeds from CoGen contract amendment	8,036
Proceeds from assessment financing		2,043
Payments on assessment financing		(415)
Net proceeds (payments) on Kinergy's line of credit	21,282	7,578
Payments on plant borrowings	(8,000)	(16,500)
Payments on senior notes	(3,748)	(2,000)
Preferred stock dividend payments	(946)	(1,265)
Payments on capital leases		(772)
Debt issuance costs	(1,280)
Net cash provided by (used in) financing activities	19,014	(9,274)
Net decrease in cash and cash equivalents	(7,630)	(22,862)
Cash and cash equivalents at beginning of period	26,627	49,489
Cash and cash equivalents at end of period	18,997	26,627
Supplemental Information:
Interest paid	18,763	15,147
Income tax refunds		743
Noncash financing and investing activities:
Initial right of use assets and liabilities recorded under ASC 842	43,753
Issuance of common stock for senior note amendment	3,817
Issuance of warrants for senior note amendment	979
Accrued preferred stock dividends	$ 319

ORGANIZATION AND SIGNIFICANT AC

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES.	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES	1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES Organization and Business On December 15, 2016, the Company and Aurora Cooperative Elevator Company, a Nebraska cooperative corporation ("ACEC"), closed a transaction under a contribution agreement under which the Company contributed its Aurora, Nebraska ethanol facilities and ACEC contributed its Aurora grain elevator and related grain handling assets to Pacific Aurora, LLC ("Pacific Aurora") in exchange for equity interests in Pacific Aurora. On December 15, 2016, concurrently with the closing under the contribution agreement, the Company sold a portion of its equity interest in Pacific Aurora to ACEC. As a result, the Company owns 73.93% of Pacific Aurora and ACEC owns 26.07% of Pacific Aurora. Further, the Company has consolidated 100% of the results of Pacific Aurora and recorded ACEC's 26.07% equity interest as noncontrolling interests in the accompanying financial statements for all periods presented. The Company is a leading producer and marketer of low-carbon renewable fuels in the United States. The Company's four ethanol plants in the Western United States (together with their respective holding companies, the "Pacific Ethanol West Plants") are located in close proximity to both feed and ethanol customers and thus enjoy unique advantages in efficiency, logistics and product pricing. The Company's five ethanol plants in the Midwest (together with their respective holding companies, the "Pacific Ethanol Central Plants") are located in the heart of the Corn Belt, benefit from low-cost and abundant feedstock production and allow for access to many additional domestic markets. In addition, the Company's ability to load unit trains from these facilities in the Midwest allows for greater access to international markets. The Company has a combined production capacity of 605 million gallons per year, markets, on an annualized basis, nearly 1.0 billion gallons of ethanol and specialty alcohols, and produces, on an annualized basis, over 3.0 million tons of co-products on a dry matter basis, such as wet and dry distillers grains, wet and dry corn gluten feed, condensed distillers solubles, corn gluten meal, corn germ, dried yeast and CO 2 As of December 31, 2019, all but one of the Company's production facilities, specifically, the Company's Aurora East facility, were operating. As market conditions change, the Company may increase, decrease or idle production at one or more operating facilities or resume operations at any idled facility. Basis of Presentation Liquidity The Company has agreed with its lenders to present by April 20, 2020 a comprehensive plan to restructure its assets and liabilities. The Company has appointed a chief restructuring officer to facilitate the development of such a plan and to assist in the Company's present strategic initiatives. The Company expects the plan will include completing planned asset sales, additional assets sales, soliciting new investments in the Company or its assets, further debt payment deferrals and reductions, cutting overhead expenses and other cash preserving initiatives. The Company intends that the plan will provide the means to maintain sufficient liquidity for the next twelve months. Segments Segment Reporting Cash and Cash Equivalents Accounts Receivable and Allowance for Doubtful Accounts The Company maintains an allowance for doubtful accounts for balances that appear to have specific collection issues. The collection process is based on the age of the invoice and requires attempted contacts with the customer at specified intervals. If, after a specified number of days, the Company has been unsuccessful in its collection efforts, a bad debt allowance is recorded for the balance in question. Delinquent accounts receivable are charged against the allowance for doubtful accounts once uncollectibility has been determined. The factors considered in reaching this determination are the apparent financial condition of the customer and the Company's success in contacting and negotiating with the customer. If the financial condition of the Company's customers were to deteriorate, resulting in an impairment of ability to make payments, additional allowances may be required. Of the accounts receivable balance, approximately $63,736,000 and $54,820,000 at December 31, 2019 and 2018, respectively, were used as collateral under Kinergy's operating line of credit. The allowance for doubtful accounts was $39,000 and $12,000 as of December 31, 2019 and 2018, respectively. The Company recorded a bad debt expense of $27,000 and $45,000 for the years ended December 31, 2019 and 2018, respectively. The Company does not have any off-balance sheet credit exposure related to its customers. Concentration Risks The Company sells fuel-grade ethanol to gasoline refining and distribution companies. The Company sold ethanol to customers representing 10% or more of the Company's total net sales, as follows. Years Ended December 31, 2019 2018 Customer A 12 % 14 % Customer B 10 % 11 % The Company had accounts receivable due from these customers totaling $15,624,000 and $13,405,000, representing 21% and 20% of total accounts receivable, as of December 31, 2019 and 2018, respectively. The Company purchases corn, its largest cost component in producing ethanol, from its suppliers. The Company purchased corn from suppliers representing 10% or more of the Company's total corn purchases, as follows: Years Ended December 31, 2019 2018 Supplier A 18 % 17 % Supplier B 11 % 11 % Supplier C 10 % 14 % Supplier D 10 % 10 % As of December 31, 2019, approximately 37% of the Company's employees are covered by a collective bargaining agreement. Inventories December 31, 2019 2018 Finished goods $ 38,194 $ 35,778 Work in progress 7,426 6,855 Raw materials 7,890 7,233 Low-carbon and RIN credits 5,690 6,130 Other 1,400 1,824 Total $ 60,600 $ 57,820 Property and Equipment Buildings 40 years Facilities and plant equipment 10 – 25 years Other equipment, vehicles and furniture 5 – 10 years The cost of normal maintenance and repairs is charged to operations as incurred. Significant capital expenditures that increase the life of an asset are capitalized and depreciated over the estimated remaining useful life of the asset. The cost of property and equipment sold, or otherwise disposed of, and the related accumulated depreciation or amortization are removed from the accounts, and any resulting gains or losses are reflected in current operations. Intangible Asset Leases Derivative Instruments and Hedging Activities Revenue Recognition Effective January 1, 2018, the Company adopted ASC 606 using the modified retrospective method for all of its contracts. Following the adoption of ASC 606, the Company continues to recognize revenue at a point-in-time when control of goods transfers to the customer. The timing of recognition is consistent with the Company's previous revenue recognition accounting policy under which the Company recognized revenue when title and risk of loss pass to the customer and collectability was reasonably assured. In addition, ASC 606 did not impact the Company's presentation of revenue on a gross or net basis. The Company recognizes revenue primarily from sales of ethanol and its related co-products. The Company has nine ethanol production facilities from which it produces and sells ethanol to its customers through Kinergy. Kinergy enters into sales contracts with ethanol customers under exclusive intercompany ethanol sales agreements with each of the Company's nine ethanol plants. Kinergy also acts as a principal when it purchases third party ethanol which it resells to its customers. Finally, Kinergy has exclusive sales agreements with other third-party owned ethanol plants under which it sells their ethanol production for a fee plus the costs to deliver the ethanol to Kinergy's customers. These sales are referred to as third-party agent sales. Revenue from these third-party agent sales is recorded on a net basis, with Kinergy recognizing its predetermined fees and any associated delivery costs. The Company has nine ethanol production facilities from which it produces and sells co-products to its customers through PAP. PAP enters into sales contracts with co-product customers under exclusive intercompany co-product sales agreements with each of the Company's nine ethanol plants. The Company recognizes revenue from sales of ethanol and co-products at the point in time when the customer obtains control of such products, which typically occurs upon delivery depending on the terms of the underlying contracts. In some instances, the Company enters into contracts with customers that contain multiple performance obligations to deliver volumes of ethanol or co-products over a contractual period of less than 12 months. The Company allocates the transaction price to each performance obligation identified in the contract based on relative standalone selling prices and recognizes the related revenue as control of each individual product is transferred to the customer in satisfaction of the corresponding performance obligations. When the Company is the agent, the supplier controls the products before they are transferred to the customer because the supplier is primarily responsible for fulfilling the promise to provide the product, has inventory risk before the product has been transferred to a customer and has discretion in establishing the price for the product. When the Company is the principal, the Company controls the products before they are transferred to the customer because the Company is primarily responsible for fulfilling the promise to provide the products, has inventory risk before the product has been transferred to a customer and has discretion in establishing the price for the product. See Note 4 for the Company's revenue by type of contracts. Shipping and Handling Costs Selling Costs Stock-Based Compensation Impairment of Long-Lived Assets Deferred Financing Costs Provision for Income Taxes The Company accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining whether it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount which is more than 50% likely of being realized upon ultimate settlement. An uncertain tax position is considered effectively settled on completion of an examination by a taxing authority if certain other conditions are satisfied. Should the Company incur interest and penalties relating to tax uncertainties, such amounts would be classified as a component of interest expense and other income (expense), net, respectively. Deferred tax assets and liabilities are classified as noncurrent in the Company's consolidated balance sheets. The Company files a consolidated federal income tax return. This return includes all wholly-owned subsidiaries as well as the Company's pro-rata share of taxable income from pass-through entities in which the Company owns less than 100%. State tax returns are filed on a consolidated, combined or separate basis depending on the applicable laws relating to the Company and its subsidiaries. Income (Loss) Per Share The following tables compute basic and diluted earnings per share (in thousands, except per share data): Year Ended December 31, 2019 Loss Shares Per-Share Net loss attributed to Pacific Ethanol $ (88,949 ) Less: Preferred stock dividends (1,265 ) Basic and Diluted loss per share: Loss available to common stockholders $ (90,214 ) 47,384 $ (1.90 ) Year Ended December 31, 2018 Loss Shares Per-Share Net loss attributed to Pacific Ethanol $ (60,273 ) Less: Preferred stock dividends (1,265 ) Basic and Diluted loss per share: Loss available to common stockholders $ (61,538 ) 43,376 $ (1.42 ) There were an aggregate 635,000 potentially dilutive shares from convertible securities outstanding as of December 31, 2019 and 2018. These convertible securities were not considered in calculating diluted income (loss) per common share for the years ended December 31, 2019 and 2018 as their effect would be anti-dilutive. Financial Instruments Employment-related Benefits Estimates and Assumptions Subsequent Events Reclassifications

PACIFIC ETHANOL PLANTS.

PACIFIC ETHANOL PLANTS.	12 Months Ended
	Dec. 31, 2019
Business Combinations [Abstract]
PACIFIC ETHANOL PLANTS	2. PACIFIC ETHANOL PLANTS. Pacific Aurora On December 15, 2016, PE Central closed on an agreement with ACEC under which (i) PE Central contributed to Pacific Aurora 100% of the equity interests of its wholly-owned subsidiaries, Pacific Ethanol Aurora East, LLC ("AE") and Pacific Ethanol Aurora West, LLC ("AW"), which owned the Company's Aurora East and Aurora West ethanol plants, respectively, and (ii) ACEC contributed to Pacific Aurora its grain elevator adjacent to the Aurora East and Aurora West properties and related grain handling assets, including the outer rail loop and the real property on which they are located. Following the closing of these transactions, PE Central owned 73.93% of Pacific Aurora and ACEC owned 26.07% of Pacific Aurora. The Company has consolidated 100% of the results of Pacific Aurora and recorded the amount attributed to ACEC as noncontrolling interests under the voting rights model. Since the Company had control of AE and AW prior to forming Pacific Aurora, there was no gain or loss recorded on the contribution and ultimate sale of a portion of the Company's interests in Pacific Aurora. A noncontrolling interest was recognized to reflect ACEC's proportional ownership interest multiplied by the book value of Pacific Aurora's net assets. As a result, the Company recorded $16.2 million as additional paid-in capital attributed to the difference between Pacific Aurora's book value and the contribution and sale. Held-for-Sale Classification On December 19, 2019, PE Central entered into a term sheet covering the proposed sale of its 73.93% ownership interest in Pacific Aurora to ACEC for $52.8 million, and as a result, the Company determined that as of December 31, 2019, the long-lived assets of Pacific Aurora should be classified as held-for-sale. The Company's analysis resulted in an impairment of $29.3 million in its production segment. The Company has the following assets and liabilities of Pacific Aurora that will be derecognized upon sale of PE Central's interest in Pacific Aurora and as to which the Company will no longer consolidate any portion of Pacific Aurora: Cash and equivalents $ 103 Inventories 2,079 Other current assets 341 Total current assets 2,523 Property and equipment 70,400 Other assets 13,341 Total assets held-for-sale 86,264 Less: noncurrent assets 16,500 Total assets held-for-sale, current portion $ 69,764 Accounts payable and accrued expenses $ 20,711 Other current liabilities 5,497 Total current liabilities 26,208 Other non-current liabilities 8,205 Total liabilities held-for-sale $ 34,413 In addition to the above accounts, upon the sale, the Company will no longer have noncontrolling interests on its balance sheet and no longer record income (loss) of noncontrolling interests for the future periods. For the years ended December 31, 2019 and 2018, Pacific Aurora contributed $163.5 million and $233.6 million in net sales, $43.4 million and $24.3 million in pre-tax loss, and $12.3 million and $7.7 million in net loss attributed to noncontrolling interests, respectively. On February 28, 2020, the Company entered into a definitive membership interest purchase agreement with ACEC for this sale and expects to close the sale during the second quarter of 2020. Upon close, the Company expects to receive total consideration of $52.8 million, subject to certain working capital adjustments, payable in cash and $16.5 million in ACEC promissory notes. The Company expects the promissory notes to be noncurrent upon the sale, and as such has shown the amount as assets held-for-sale noncurrent.

INTERCOMPANY AGREEMENTS.

INTERCOMPANY AGREEMENTS.	12 Months Ended
	Dec. 31, 2019
Intercompany Agreements.
INTERCOMPANY AGREEMENTS.	3. INTERCOMPANY AGREEMENTS. The Company, directly or through one of its subsidiaries, has entered into the following management and marketing agreements: Affiliate Management Agreement The AMAs have an initial term of one year and automatic successive one year renewal periods. Pacific Ethanol may terminate the AMA, and any subsidiary may terminate the AMA, at any time by providing at least 90 days prior notice of such termination. Pacific Ethanol recorded revenues of approximately $12,682,000 and $12,048,000 related to the AMAs in place for the years ended December 31, 2019 and 2018, respectively. These amounts have been eliminated upon consolidation. Ethanol Marketing Agreements Kinergy recorded revenues of approximately $7,900,800 and $8,773,000 related to the ethanol marketing agreements for the years ended December 31, 2019 and 2018, respectively. These amounts have been eliminated upon consolidation. Corn Procurement and Handling Agreements Under these agreements, PAP receives a fee of $0.045 per bushel of corn delivered to each facility as consideration for its procurement and handling services, payable monthly. Effective December 15, 2016, this fee is $0.03 per bushel of corn. Each corn procurement and handling agreement had an initial term of one year and successive one year renewal periods at the option of the individual plant. PAP recorded revenues of approximately $4,288,000 and $4,531,000 related to the corn procurement and handling agreements for the years ended December 31, 2019 and 2018, respectively. These amounts have been eliminated upon consolidation. Effective December 15, 2016, each Pacific Aurora facility entered into a new grain procurement agreement with ACEC. Under this agreement, ACEC receives a fee of $0.03 per bushel of corn delivered to each facility as consideration for its procurement and handling services, payable monthly. The grain procurement agreement has an initial term of one year and successive one year renewal periods at the option of the individual plant. Pacific Aurora recorded expenses of approximately $1,103,000 and $1,381,000 for the years ended December 31, 2019 and 2018, respectively. These amounts have not been eliminated upon consolidation as they are with a related but unconsolidated third-party. Distillers Grains Marketing Agreements PAP recorded revenues of approximately $6,029,000 and $6,572,000 related to the distillers grains marketing agreements for the years ended December 31, 2019 and 2018, respectively. These amounts have been eliminated upon consolidation.

SEGMENTS.

SEGMENTS.	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
SEGMENTS.	4. SEGMENTS. The Company reports its financial and operating performance in two segments: (1) ethanol production, which includes the production and sale of ethanol, specialty alcohols and co-products, with all of the Company's production facilities aggregated, and (2) marketing and distribution, which includes marketing and merchant trading for Company-produced ethanol, specialty alcohols and co-products, and third-party ethanol. Income before provision for income taxes includes management fees charged by Pacific Ethanol to the segment. The production segment incurred $10,522,000 and $10,248,000 in management fees for the years ended December 31, 2019 and 2018, respectively. The marketing and distribution segment incurred $2,160,000 in management fees for each of the years ended December 31, 2019 and 2018. Corporate activities include selling, general and administrative expenses, consisting primarily of corporate employee compensation, professional fees and overhead costs not directly related to a specific operating segment. During the normal course of business, the segments do business with each other. The preponderance of this activity occurs when the Company's marketing segment markets ethanol produced by the production segment for a marketing fee, as discussed in Note 3. These intersegment activities are considered arms'-length transactions. Consequently, although these transactions impact segment performance, they do not impact the Company's consolidated results since all revenues and corresponding costs are eliminated in consolidation. Capital expenditures are substantially all incurred at the Company's production segment. The following tables set forth certain financial data for the Company's operating segments (in thousands): Years Ended December 31, Net Sales 2019 2018 Production, recorded as gross: Ethanol/alcohol sales $ 800,262 $ 859,815 Co-product sales 268,996 296,686 Intersegment sales 1,619 1,995 Total production sales 1,070,877 1,158,496 Marketing and distribution: Ethanol/alcohol sales, gross $ 353,792 $ 357,011 Ethanol/alcohol sales, net 1,831 1,859 Intersegment sales 7,901 8,773 Total marketing and distribution sales 363,524 367,643 Intersegment eliminations (9,520 ) (10,768 ) Net sales as reported $ 1,424,881 $ 1,515,371 Cost of goods sold: Production $ 1,095,742 $ 1,197,507 Marketing and distribution 349,906 343,991 Intersegment eliminations (10,829 ) (10,963 ) Cost of goods sold as reported $ 1,434,819 $ 1,530,535 Income (loss) before benefit for income taxes: Production $ (93,367 ) $ (77,833 ) Marketing and distribution 7,442 18,191 Corporate activities (15,357 ) (8,856 ) $ (101,282 ) $ (68,498 ) Depreciation: Production $ 47,206 $ 40,099 Corporate activities 703 750 $ 47,909 $ 40,849 Interest expense: Production $ 7,569 $ 7,116 Marketing and distribution 3,053 1,388 Corporate activities 9,584 8,628 $ 20,206 $ 17,132 The following table sets forth the Company's total assets by operating segment (in thousands): December 31, December 31, Total assets: Production $ 492,060 $ 532,790 Marketing and distribution 106,863 112,984 Corporate assets 13,572 14,117 $ 612,495 $ 659,891

PROPERTY AND EQUIPMENT.

PROPERTY AND EQUIPMENT.	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	5. PROPERTY AND EQUIPMENT. Property and equipment consisted of the following (in thousands): December 31, 2019 2018 Facilities and plant equipment $ 495,513 $ 621,909 Land 7,219 8,970 Other equipment, vehicles and furniture 11,229 11,812 Construction in progress 15,793 30,312 529,754 673,003 Accumulated depreciation (197,228 ) (190,346 ) $ 332,526 $ 482,657 Depreciation expense was $40,931,000 and $40,849,000 for the years ended December 31, 2019 and 2018, respectively. For the year ended December 31, 2019 and 2018, the Company capitalized interest of $563,000 and $1,170,000, respectively, related to its capital investment activities.

INTANGIBLE ASSET.

INTANGIBLE ASSET.	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSET.	6. INTANGIBLE ASSET. The Company recorded a tradename valued at $2,678,000 in 2006 as part of its acquisition of Kinergy. The Company determined that the Kinergy tradename has an indefinite life and, therefore, rather than being amortized, will be tested annually for impairment. The Company did not record any impairment of the Kinergy tradename for the years ended December 31, 2019 and 2018.

DERIVATIVES.

DERIVATIVES.	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES.	7. DERIVATIVES. The business and activities of the Company expose it to a variety of market risks, including risks related to changes in commodity prices. The Company monitors and manages these financial exposures as an integral part of its risk management program. This program recognizes the unpredictability of financial markets and seeks to reduce the potentially adverse effects that market volatility could have on operating results. Commodity Risk – Cash Flow Hedges Commodity Risk – Non-Designated Hedges Non Designated Derivative Instruments As of December 31, 2019 Assets Liabilities Type of Instrument Balance Sheet Location Fair Value Balance Sheet Location Fair Value Cash collateral balance Other current assets $ 615 Commodity contracts Derivative assets $ 2,438 Derivative liabilities $ 1,860 As of December 31, 2018 Assets Liabilities Type of Instrument Balance Sheet Location Fair Value Balance Sheet Location Fair Value Cash collateral balance Other current assets $ 8,479 Commodity contracts Derivative assets $ 1,765 Derivative liabilities $ 6,309 The above amounts represent the gross balances of the contracts, however, the Company does have a right of offset with each of its derivative brokers. The classification and amounts of the Company's recognized gains (losses) for its derivatives not designated as hedging instruments are as follows (in thousands): Realized Losses For the Years Ended Type of Instrument Statements of Operations Location 2019 2018 Commodity contracts Cost of goods sold $ (4,568 ) $ (3,479 ) $ (4,568 ) $ (3,479 ) Unrealized Gains (Losses) For the Years Ended Type of Instrument Statements of Operations Location 2019 2018 Commodity contracts Cost of goods sold $ 5,123 $ (3,235 ) $ 5,123 $ (3,235 )

DEBT.

DEBT.	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
DEBT.	8. DEBT. Long-term borrowings are summarized as follows (in thousands): December 31, December 31, Kinergy line of credit $ 78,338 $ 57,057 Pekin term loan 39,500 43,000 Pekin revolving loan 32,000 32,000 ICP term loan 12,000 16,500 ICP revolving loan 18,000 18,000 Parent notes payable 65,649 66,948 245,487 233,505 Less unamortized debt premium (discount) 461 (690 ) Less unamortized debt financing costs (2,153 ) (1,377 ) Less short-term portion (63,000 ) (146,671 ) Long-term debt $ 180,795 $ 84,767 Kinergy Line of Credit If Kinergy and PAP's monthly excess borrowing availability falls below certain thresholds, they are collectively required to maintain a fixed-charge coverage ratio (calculated as a twelve-month rolling EBITDA divided by the sum of interest expense, capital expenditures, principal payments of indebtedness, indebtedness from capital leases and taxes paid during such twelve-month rolling period) of at least 2.0 and are prohibited from incurring certain additional indebtedness (other than specific intercompany indebtedness). Kinergy and PAP's obligations under the credit facility are secured by a first-priority security interest in all of their assets in favor of the lender. Pacific Ethanol has guaranteed all of Kinergy's obligations under the line of credit. As of December 31, 2019, Kinergy had no unused availability under the credit facility. Pekin Credit Facilities st st On August 7, 2017, Pekin amended its term and revolving credit facilities by agreeing to increase the interest rate under the facilities by 25 basis points to an annual rate equal to the 30-day LIBOR plus 4.00%. Pekin and its lender also agreed that Pekin is required to maintain working capital of not less than $17.5 million from August 31, 2017 through December 31, 2017 and working capital of not less than $20.0 million from January 1, 2018 and continuing at all times thereafter. In addition, the required Debt Service Coverage Ratio was reduced to 0.15 to 1.00 for the fiscal year ending December 31, 2017. For the month ended January 31, 2018, Pekin was not in compliance with its working capital requirement due to larger than anticipated repair and maintenance related expenses to replace faulty equipment. Pekin received a waiver from its lender for this noncompliance. Further, the lender decreased Pekin's working capital covenant requirement to $13.0 million for the month ended February 28, 2018, excluding the $3.5 million principal payment due in May 2018 from the calculation. On March 30, 2018, Pekin amended its term loan facility by reducing the amount of working capital it is required to maintain to not less than $13.0 million from March 31, 2018 through November 30, 2018 and not less than $16.0 million from December 1, 2018 and continuing at all times thereafter. In addition, a principal payment in the amount of $3.5 million due for May 2018 was deferred until the maturity date of the term loan. At December 31, 2018 and January 31, 2019, Pekin experienced certain covenant violations under its term and revolving credit facilities. In February 2019, Pekin reached an agreement with its lender to forbear until March 11, 2019 and to defer a $3.5 million principal payment until that date. On March 21, 2019, Pekin amended its term and revolving credit facilities by agreeing to increase the interest rate under the facilities by 125 basis points to an annual rate equal to the 30-day LIBOR plus 5.00%. Pekin and its lender also agreed that it is required to maintain working capital of not less than $15.0 million from March 21, 2019 through July 15, 2019 and working capital of not less than $30.0 million from July 15, 2019 and continuing at all times thereafter. On July 15, 2019, Pekin and its lender agreed to a further amendment extending the aforementioned July 15, 2019 dates to November 15, 2019. On August 6, 2019, Pekin paid its $3,500,000 principal payment scheduled for August 20, 2019. Under these amendments, the lender agreed to temporarily waive financial covenant violations, working capital maintenance violations and intercompany accounts receivable collections violations that occurred with respect to the credit agreement. The lenders also agreed to defer all scheduled principal payments, including further deferral of principal payments in the amount of $3.5 million each due on February 20, 2019 and May 20, 2019. The waivers and principal deferral expired on November 15, 2019, at which time the waivers were to become permanent if PE Central made a contribution to Pekin in an amount equal to $30.0 million, minus the then-existing amount of Pekin's working capital, plus the amount of any accounts receivable owed by PE Central to Pekin, plus $12.0 million, or the Parent Contribution Amount. In addition, if the Parent Contribution Amount was timely received, the lender agreed to waive Pekin's debt service coverage ratio financial covenant for the year ended December 31, 2019. If the Parent Contribution Amount was not timely made, then the temporary waivers would automatically expire. Pekin was also required to pay by November 15, 2019 the aggregate amount of $10.5 million representing all deferred and unpaid scheduled principal payments and all additional scheduled principal payments for the remainder of 2019. On November 15, 2019, Pekin amended its term and revolving credit facilities by agreeing to extend the temporary waiver of violations of financial and other covenants relating to working capital maintenance, intercompany accounts receivable collections, financial projections, cash flow forecasts, and sales reports. The lender also agreed to extend the deferral of all scheduled principal payments payable on February 20, 2019, May 20, 2019 and November 15, 2019 to December 15, 2019. The amendment also made a payment default of $250,000 or more under Kinergy's credit facility or the senior secured notes, or any acceleration of indebtedness, or any termination of any commitment to lend or termination of any forbearance or other accommodation, an event of default. The waivers and principal deferral expired on December 15, 2019. On December 15, 2019, the waivers were to become permanent if PE Central made a contribution to Pekin in an amount equal to the Parent Contribution Amount. In addition, if the Parent Contribution Amount was timely received, the lender agreed to waive Pekin's debt service coverage ratio financial covenant for the year ended December 31, 2019. If the Parent Contribution Amount was not timely made, then the temporary waivers would automatically expire. On December 16, 2019, Pekin amended its term and revolving credit facilities by agreeing to extend the deferral of all scheduled principal payments payable on February 20, 2019, May 20, 2019 and November 20, 2019 to December 20, 2019. On December 20, 2019, Pekin's lender agreed to temporarily waive working capital covenant violations, debt service coverage ratio covenant violations, reporting covenant violations and certain other covenant violations that occurred under the Pekin credit agreement, and replaced those covenants with new EBITDA and production volume covenants. Pekin's lender also agreed to defer all scheduled principal installments payable under the term note on February 20, 2019, May 20, 2019 and November 20, 2019 until August 20, 2021. In addition, Pekin was not required to make its prior scheduled quarterly principal payments of $3.5 million until September 30, 2020, at which time $3.5 million will be due, with the same amount due quarterly thereafter until maturity. Under the amendment, Pekin, collectively with ICP, agreed to pay the lenders an aggregate of $40.0 million on or before September 30, 2020 to reduce the outstanding balances of the term loans under the Pekin credit agreement and the ICP credit agreement. The $40.0 million is an aggregate amount payable to ICP's lender and Pekin's lender, and allocated between them. The $40.0 million is to be funded through asset sales, proceeds of any award, judgment or settlement of litigation, or, at the Company's election, from funds contributed to Pekin by the Company. Following receipt by the lenders under the ICP credit agreement and the Pekin credit agreement, collectively, of $40.0 million in full, and once any loans corresponding to the particular midwestern asset sold are repaid, additional proceeds from the sale of any of the Company's midwestern plant assets will generally be allocated 33/34/33% among ICP's lender and Pekin's lender, collectively, the selling security holders, and the Company, respectively. Proceeds from the sale of any of the Company's western assets will generally be allocated 33/34/33% among Pekin's lender and ICP's lender, collectively, the selling security holders, and the Company, respectively. Pekin's lender also imposed cross-default terms such that, until Pekin's lender and ICP's lender receive $40.0 million, a default under the ICP credit agreement would constitute a default under the Pekin credit agreement. Pekin agreed to provide additional collateral security to support its obligations under the Pekin credit agreement, including second lien positions in the Company's western plants, which will terminate and be released upon Pekin's lender's receipt of $40.0 million. On December 29, 2019, Pekin agreed to amend the secured obligations under its security agreement to include Pekin's unconditional guarantee of the payment of up to an aggregate $40.0 million to satisfy the obligations of ICP to ICP's lender under the ICP credit agreement. On March 20, 2020, Pekin and its lender agreed to defer $1.0 million in aggregate interest payments due March 20, 2020 and April 20, 2020 until May 20, 2020. On that same date, the Company granted to the lender a security interest in all of the Company's equity interests in PE Op Co., which indirectly owns the Company's plants located on the West Coast. The Company and certain subsidiaries also entered into intercreditor agreements with the Pekin and ICP lenders, and the agent for the Company's senior secured noteholders, to address issues of priority and the allocation of proceeds from asset sales. ICP Credit Facilities As of September 30, 2019, ICP had no additional borrowing availability under its revolving credit facility. As of September 30, 2019, ICP did not meet its minimum working capital requirement, however, ICP's lender subsequently waived the minimum working capital deficiency. On December 20, 2019, ICP amended its term and revolving credit facilities under which ICP's lender granted waivers for certain ICP covenant defaults and replaced those covenants with new EBITDA and production volume covenants. ICP's lender also imposed cross-default terms such that, until ICP's lender and Pekin's lender receive an aggregate of $40.0 million, a default under the Pekin credit agreement would constitute a default under the ICP credit agreement. ICP agreed to provide additional collateral security to support its obligations under the ICP credit agreement, including second lien positions in the Company's western plants, which will terminate and be released upon ICP's lender's receipt of an aggregate of $40.0 million. ICP's prior scheduled principal payment of $1.5 million, originally due on December 20, 2019, was deferred to the maturity date of September 20, 2021. Scheduled quarterly principal payments of $1.5 million will resume March 20, 2020. Under the amendment, ICP, collectively with Pekin, agreed to pay the lenders an aggregate of $40.0 million on or before September 30, 2020 to reduce the outstanding balances of the term loans under the ICP credit agreement and the Pekin credit agreement. The $40.0 million is an aggregate amount payable to ICP's lender and Pekin's lender, and allocated between them. The $40.0 million is to be funded through asset sales, proceeds of any award, judgment or settlement of litigation, or, at the Company's election, from funds contributed to ICP by the Company. Following receipt by the lenders under the ICP credit agreement and the Pekin credit agreement, collectively, of $40.0 million in full, and once any loans corresponding to the particular midwestern asset sold are repaid, any additional proceeds from a sale of the Company's midwestern plant assets will generally be allocated 33/34/33% among ICP's lender and Pekin's lender, collectively, the selling security holders, and the Company, respectively. Proceeds from the sale of any of the Company's western assets will generally be allocated 33/34/33% among Pekin's lender and ICP's lender, collectively, the selling security holders, and the Company, respectively. On December 29, 2019, ICP agreed to amend the secured obligations under its security agreement to include ICP's unconditional guarantee of the payment of up to an aggregate $40.0 million to satisfy the obligations of Pekin to Pekin's lender under the Pekin credit agreement. As of December 31, 2019 and the filing of this report, the Company believes ICP is in compliance with its working capital requirement. On March 20, 2020, ICP and its lender agreed to defer a $1.5 million principal payment due March 20, 2020 and $0.3 million in aggregate interest payments due March 20, 2020 and April 20, 2020 until May 20, 2020. On that same date, the Company granted to the lender a security interest in all of the Company's equity interests in PE Op Co. The Company and certain of its subsidiaries also entered into intercreditor agreements with the Pekin and ICP lenders, and the agent for the Company's senior secured noteholders, to address issues of priority and the allocation of proceeds from asset sales. Pacific Ethanol, Inc. Notes Payable The Notes had an original maturity date of December 15, 2019 (the "Maturity Date"). Interest on the Notes accrued at a rate equal to (i) the greater of 1% and the three-month LIBOR, plus 7.0% from the closing through December 14, 2017, (ii) the greater of 1% and LIBOR, plus 9% between December 15, 2017 and December 14, 2018, and (iii) the greater of 1% and LIBOR plus 11% between December 15, 2018 and the Maturity Date. The interest rate would increase by an additional 2% per annum above the interest rate otherwise applicable upon the occurrence and during the continuance of an event of default until such event of default has been cured. Interest was payable in cash on the 15th calendar day of each March, June, September and December. Pacific Ethanol is required to pay all outstanding principal and any accrued and unpaid interest on the Notes on the Maturity Date. Pacific Ethanol may, at its option, prepay the outstanding principal amount of the Notes at any time without premium or penalty. The Notes contain a variety of events of default. The payments due under the Notes rank senior to all other indebtedness of Pacific Ethanol, other than permitted senior indebtedness. The Notes contain a variety of obligations on the part of Pacific Ethanol not to engage in certain activities, including that (i) Pacific Ethanol and certain of its subsidiaries will not incur other indebtedness, except for certain permitted indebtedness, (ii) Pacific Ethanol and certain of its subsidiaries will not redeem, repurchase or pay any dividend or distribution on their respective capital stock without the prior consent of the holders of the Notes holding 66-2/3% of the aggregate principal amount of the Notes, other than certain permitted distributions, (iii) Pacific Ethanol and certain of its subsidiaries will not sell, lease, assign, transfer or otherwise dispose of any assets of Pacific Ethanol or any such subsidiary, except for certain permitted dispositions (including the sales of inventory or receivables in the ordinary course of business), and (iv) Pacific Ethanol and certain of its subsidiaries will not issue any capital stock or membership interests for any purpose other than to pay down a portion of all of the amounts owed under the Notes and in connection with Pacific Ethanol's stock incentive plans. The Notes are secured by a first-priority security interest in the equity interest held by Pacific Ethanol in its wholly-owned subsidiary, PE Op. Co., which indirectly owns the Company's plants located on the West Coast. On December 16, 2019, Pacific Ethanol amended the notes to extend the maturity date from December 15, 2019 to December 23, 2019 and amended the interest rate from the greater of 1% and the three-month LIBOR, plus 11% between December 15, 2018 through December 14, 2019, to 15% commencing on September 15, 2019. Under the amendment, Pacific Ethanol also agreed to pay the December 15, 2019 interest payment 50% in cash and 50% in-kind through the issuance of an additional note in the principal amount equal thereto. On December 22, 2019, Pacific Ethanol amended and restated the notes which extended the maturity date from December 23, 2019 to December 15, 2021. Interest on the Notes accrues at a rate of 15% per annum, payable quarterly. In addition, the Company issued 5.5 million shares of its common stock and 5.5 million warrants to the noteholders. The Company evaluated the above amendment and determined that debt extinguishment accounting was appropriate. Therefore, the Company recorded a loss on debt extinguishment of $6,517,000, comprised of the fair value of common stock issued, fair value of warrants issued and fair value of the carrying value of the debt. On March 20, 2020, the Company and the noteholders agreed to defer a $2.5 million aggregate interest payment due March 15, 2020 until May 20, 2020. On that same date, ICP granted a junior lien in certain of its personal property to the noteholders, and PE Central granted a junior lien in certain of its personal property to the noteholders. PE Central also pledged its equity interests in Pacific Aurora, Pekin and ICP in favor of the noteholders. In addition, PE Op Co. and Pacific Ethanol West, LLC, which directly owns the Company's plants located on the West Coast, granted a security interest in certain of their personal property to the noteholders. The Company and certain of its subsidiaries also entered into intercreditor agreements with the Pekin and ICP lenders, and the agent for the Company's senior secured noteholders, to address issues of priority and the allocation of proceeds from asset sales. Maturities of Long-term Debt December 31: 2020 $ 63,000 2021 94,149 2022 88,338 2023 — 2024 — $ 245,487

LEASES.

LEASES.	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
LEASES.	9. LEASES. As discussed in Note 1, on January 1, 2019, the Company adopted the provisions of ASC 842 using the prospective transition approach, which applies the provisions of ASC 842 upon adoption, with no change to prior periods. This adoption resulted in the Company recognizing initial right of use assets and lease liabilities of $43,753,000. The adoption did not have a significant impact on the Company's consolidated statements of operations. Upon the initial adoption of ASC 842, the Company elected the following practical expedients allowable under the guidance: not to reassess whether any expired or existing contracts are or contain leases; not to reassess the lease classification for any expired or existing leases; not to reassess initial direct costs for any existing leases; not to separately identify lease and nonlease components; and not to evaluate historical land easements. Additionally, the Company elected the short-term lease exemption policy, applying the requirements of ASC 842 to only long-term (greater than 1 year) leases. The Company leases railcar equipment, office equipment and land for certain of its facilities. Operating lease right of use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company uses its estimated incremental borrowing rate, unless an implicit rate is readily determinable, as the discount rate for each lease in determining the present value of lease payments. For the year ended December 31, 2019, the Company's weighted average discount rate was 6.00%. Operating lease expense is recognized on a straight-line basis over the lease term. The Company determines if an arrangement is a lease or contains a lease at inception. The Company's leases have remaining lease terms of approximately 1 year to 56 years, which may include options to extend the lease when it is reasonably certain the Company will exercise those options. For the year ended December 31, 2019, the weighted average remaining lease terms of equipment and land-related leases were 2.46 years and 13.94 years, respectively. The Company does not have lease arrangements with residual value guarantees, sale leaseback terms or material restrictive covenants. The Company does not have any material finance lease obligations nor sublease agreements. The following table summarizes the remaining maturities of the Company's operating lease liabilities, assuming all land lease extensions are taken, as of December 31, 2019 (in thousands): Year Ended: Equipment Land Related 2020 $ 3,736 $ 1,054 2021 2,202 1,077 2022 2,083 1,100 2023 1,475 1,013 2024 858 1,001 2025-43 726 33,160 Less Interest (1,453 ) (23,404 ) $ 9,627 $ 15,001 For the year ended December 31, 2019, the Company recorded operating lease costs of $9,948,000 in cost of goods sold and $472,000 in selling, general and administrative expenses, in the Company's statements of operations.

PENSION PLANS.

PENSION PLANS.	12 Months Ended
	Dec. 31, 2019
Retirement Benefits [Abstract]
PENSION PLANS.	10. PENSION PLANS. Retirement Plan Information related to the Retirement Plan as of and for the years ended December 31, 2019 and 2018 is presented below (dollars in thousands): 2019 2018 Changes in plan assets: Fair value of plan assets, beginning $ 13,257 $ 13,958 Actual gains (losses) 2,692 (946 ) Benefits paid (698 ) (667 ) Company contributions 403 912 Participant contributions — — Fair value of plan assets, ending $ 15,654 $ 13,257 Less: projected accumulated benefit obligation $ 21,643 $ 18,690 Funded status, (underfunded)/overfunded $ (5,989 ) $ (5,433 ) Amounts recognized in the consolidated balance sheets: Other liabilities $ (5,989 ) $ (5,433 ) Accumulated other comprehensive loss (income) $ 1,654 $ 1,069 Components of net periodic benefit costs are as follows: Service cost $ 374 $ 424 Interest cost 760 694 Expected return on plan assets (760 ) (816 ) Net periodic benefit cost $ 374 $ 302 Loss recognized in other comprehensive income (expense) $ 585 $ 343 Assumptions used in computation benefit obligations: Discount rate 3.25 % 4.15 % Expected long-term return on plan assets 6.25 % 6.25 % Rate of compensation increase — — The Company expects to make contributions in the year ending December 31, 2020 of approximately $0.7 million. Net periodic benefit cost for 2020 is estimated at approximately $0.2 million. The following table summarizes the expected benefit payments for the Company's Retirement Plan for each of the next five fiscal years and in the aggregate for the five fiscal years thereafter (in thousands): December 31: 2020 $ 800 2021 810 2022 840 2023 880 2024 920 2025-29 5,250 $ 9,500 See Note 15 for discussion of the Retirement Plan's fair value disclosures. Historical and future expected returns of multiple asset classes were analyzed to develop a risk-free real rate of return and risk premiums for each asset class. The overall rate for each asset class was developed by combining a long-term inflation component, the risk-free real rate of return, and the associated risk premium. A weighted average rate was developed based on those overall rates and the target asset allocation of the plan. The Company's pension committee is responsible for overseeing the investment of pension plan assets. The pension committee is responsible for determining and monitoring the appropriate asset allocations and for selecting or replacing investment managers, trustees, and custodians. The pension plan's current investment target allocations are 50% equities and 50% debt. The pension committee reviews the actual asset allocation in light of these targets periodically and rebalances investments as necessary. The pension committee also evaluates the performance of investment managers as compared to the performance of specified benchmarks and peers and monitors the investment managers to ensure adherence to their stated investment style and to the plan's investment guidelines. Postretirement Plan Information related to the Postretirement Plan as of December 31, 2019 and 2018 is presented below (dollars in thousands): 2019 2018 Amounts at the end of the year: Accumulated/projected benefit obligation $ 5,274 $ 5,711 Fair value of plan assets — — Funded status, (underfunded)/overfunded $ (5,274 ) $ (5,711 ) Amounts recognized in the consolidated balance sheets: Accrued liabilities $ (280 ) $ (320 ) Other liabilities $ (4,994 ) $ (5,391 ) Accumulated other comprehensive loss $ 716 $ 1,390 Information related to the Postretirement Plan for the years ended December 31, 2019 and 2018 is presented below (dollars in thousands): Years Ended December 31, 2019 2018 Amounts recognized in the plan for the year: Company contributions $ 171 $ 137 Participant contributions $ 24 $ 14 Benefits paid $ (195 ) $ (152 ) Components of net periodic benefit costs are as follows: Service cost $ 67 $ 83 Interest cost 219 182 Amortization of prior service costs 122 131 Net periodic benefit cost $ 408 $ 396 Gain recognized in other comprehensive income $ (674 ) $ (118 ) Discount rate used in computation of benefit obligations 2.95 % 3.35 % The Company does not expect to recognize any amortization of net actuarial loss during the year ended December 31, 2020. The following table summarizes the expected benefit payments for the Company's Post-Retirement Plan for each of the next five fiscal years and in the aggregate for the five fiscal years thereafter (in thousands): December 31: 2020 $ 280 2021 320 2022 300 2023 330 2024 370 Thereafter 2,060 $ 3,660 For purposes of determining the cost and obligation for pre-Medicare postretirement medical benefits, 6.75% annual rate of increase in the per capita cost of covered benefits (i.e., health care trend rate) was assumed for the plan in 2021, adjusting to a rate of 4.50% in 2030. Assumed health care cost trend rates have a significant effect on the amounts reported for health care plans.

INCOME TAXES.

INCOME TAXES.	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	11. INCOME TAXES. The Company recorded a provision (benefit) for income taxes as follows (in thousands): Years Ended December 31, 2019 2018 Current provision (benefit) $ (22 ) $ (589 ) Deferred provision (benefit) 2 27 Total $ (20 ) $ (562 ) A reconciliation of the differences between the United States statutory federal income tax rate and the effective tax rate as provided in the consolidated statements of operations is as follows: Years Ended December 31, 2019 2018 Statutory rate 21.0 % 21.0 % State income taxes, net of federal benefit 5.7 5.4 Change in valuation allowance (22.4 ) (20.3 ) Noncontrolling interest (3.3 ) (3.0 ) Non-deductible items (0.1 ) (0.7 ) Other (1.0 ) (1.6 ) Effective rate (0.1 )% 0.8 % Deferred income taxes are provided using the asset and liability method to reflect temporary differences between the financial statement carrying amounts and the tax bases of assets and liabilities using presently enacted tax rates and laws. The components of deferred income taxes included in the consolidated balance sheets were as follows (in thousands): December 31, 2019 2018 Deferred tax assets: Net operating loss carryforwards $ 61,775 $ 48,082 R&D, Energy and AMT credits 3,864 4,247 Disallowed interest 8,242 3,769 Railcar contracts 379 650 Stock-based compensation 551 782 Allowance for doubtful accounts and other assets 578 643 Derivatives — 1,214 Pension liability 2,979 2,941 Property and equipment 3,325 — Other 3,458 2,134 Total deferred tax assets 85,151 64,462 Deferred tax liabilities: Property and equipment — (23,013 ) Intangibles (749 ) (749 ) Derivatives (153 ) — Other (437 ) (363 ) Total deferred tax liabilities (1,339 ) (24,125 ) Valuation allowance (84,065 ) (40,588 ) Net deferred tax liabilities, included in other liabilities $ (253 ) $ (251 ) A portion of the Company's net operating loss carryforwards are subject to provisions of the tax law that limits the use of losses incurred by a corporation prior to the date certain ownership changes occur. These limitations also apply to certain depreciation deductions associated with assets on hand at the time of the ownership change and otherwise allowable during the five-year period following the ownership change. As the five-year limitation period lapsed in 2019, these disallowed deductions are reflected in property and equipment in the schedule above but continue to be subject to the annual limitation that applies to the pre-change net operating losses. Due to the limitation on the use of net operating losses and deprecation deductions, a significant portion of these carryforwards will expire regardless of whether the Company generates future taxable income. After reducing these net operating loss carryforwards for the amount which will expire due to this limitation, the Company had remaining federal net operating loss carryforwards of approximately $228,837,000 and state net operating loss carryforwards of approximately $216,265,000 at December 31, 2019. These net operating loss carryforwards expire as follows (in thousands): Tax Years Federal State 2020–2024 $ — $ — 2025–2029 13,781 28,993 2030–2034 101,576 35,238 2035 and after 41,942 152,034 Non-expiring NOLs 71,538 — Total NOLs $ 228,837 $ 216,265 Certain of these net operating losses are not immediately available, but become available to be utilized in each of the years ended December 31, as follows (in thousands): Year Federal State 2020 $ 146,738 $ 169,539 2021 6,308 5,318 2022 6,308 5,318 2023 6,308 5,318 2024 6,308 5,135 To the extent amounts are not utilized in any year, they may be carried forward to the next year until expiration. These amounts may change if there are future additional limitations on their utilization. In assessing whether the deferred tax assets are realizable, a more likely than not standard is applied. If it is determined that it is more likely than not that deferred tax assets will not be realized, a valuation allowance must be established against the deferred tax assets. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which the associated temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. A valuation allowance was established in the amount of $84,065,000 and $40,588,000 as of December 31, 2019 and 2018, respectively, based on the Company's assessment of the future realizability of certain deferred tax assets. The valuation allowance on deferred tax assets is related to future deductible temporary differences and net operating loss carryforwards for which the Company has concluded it is more likely than not that these items will not be realized in the ordinary course of operations. For the year ended December 31, 2019, the Company recorded an increase in valuation allowance of $43,477,000. Of this increase, $22,641,000 was primarily the offsetting impact of an increase in deferred tax assets associated with additional net operating losses in 2019. The remaining increase of $20,836,000 relates to a deferred asset related to previously disallowed depreciation discussed above. For the year ended December 31, 2018, the Company recorded an increase in the valuation allowance of $15,949,000. This increase was primarily the offsetting impact of an increase in deferred tax assets associated with additional net operating losses in 2018. At December 31, 2018, the Company accrued $235,000 in tax uncertainties related to a refund claim. There was no accrued interest or penalties relating to tax uncertainties at December 31, 2019. The Tax Cuts and Jobs Act ("TCJA") was enacted on December 22, 2017. The Company recognized the income tax effects of the TCJA in its 2017 financial statements in accordance with Staff Accounting Bulletin No. 118, which provides SEC staff guidance for the application of ASC Topic 740, Income Taxes Amounts recorded where accounting was complete principally related to the reduction in the U.S. corporate income tax rate to 21%. This resulted in the Company reporting an income tax benefit of $321,000 as the deferred tax liabilities associated with indefinite lived intangible assets were remeasured at the new 21% rate. This rate reduction decreased gross deferred assets by approximately $10,170,000 and valuation allowance by $10,545,000. Absent this deferred tax liability, the Company was in a net deferred tax asset position that is offset by a full valuation allowance, resulting in a net tax effect of zero. For the year ended December 31, 2018, provisions of Internal Revenue Code Section 163(j), as amended by the TCJA, became effective which now limits the deductibility of interest expense to 30% of adjusted taxable income. The Company recorded a related deferred asset of $8,242,000 and $3,769,000 at December 31, 2019 and 2018, respectively, which has been fully offset by a valuation allowance. The Company is subject to income tax in the United States federal jurisdiction and various state jurisdictions and has identified its federal tax return and tax returns in state jurisdictions below as "major" tax filings. These jurisdictions, along with the years still open to audit under the applicable statutes of limitation, are as follows: Jurisdiction Tax Years Federal 2016 – 2018 Arizona 2015 – 2018 California 2015 – 2018 Colorado 2014 – 2018 Idaho 2016 – 2018 Illinois 2016 – 2018 Indiana 2016 – 2018 Iowa 2016 – 2018 Kansas 2016 – 2018 Minnesota 2016 – 2018 Missouri 2016 – 2018 Nebraska 2016 – 2018 Oklahoma 2016 – 2018 Oregon 2016 – 2018 Texas 2015 – 2018 However, because the Company had net operating losses and credits carried forward in several of the jurisdictions, including the United States federal and California jurisdictions, certain items attributable to closed tax years are still subject to adjustment by applicable taxing authorities through an adjustment to tax attributes carried forward to open years.

PREFERRED STOCK.

PREFERRED STOCK.	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
PREFERRED STOCK.	12. PREFERRED STOCK. The Company has 6,734,835 undesignated shares of authorized and unissued preferred stock, which may be designated and issued in the future on the authority of the Company's Board of Directors. As of December 31, 2019, the Company had the following designated preferred stock: Series A Preferred Stock Upon any issuance, the Series A Preferred Stock would rank senior in liquidation and dividend preferences to the Company's common stock. Holders of Series A Preferred Stock would be entitled to quarterly cumulative dividends payable in arrears in cash in an amount equal to 5% per annum of the purchase price per share of the Series A Preferred Stock. The holders of the Series A Preferred Stock would have conversion rights initially equivalent to two shares of common stock for each share of Series A Preferred Stock, subject to customary antidilution adjustments. Certain specified issuances will not result in antidilution adjustments. The shares of Series A Preferred Stock would also be subject to forced conversion upon the occurrence of a transaction that would result in an internal rate of return to the holders of the Series A Preferred Stock of 25% or more. Accrued but unpaid dividends on the Series A Preferred Stock are to be paid in cash upon any conversion of the Series A Preferred Stock. The holders of Series A Preferred Stock would have a liquidation preference over the holders of the Company's common stock equivalent to the purchase price per share of the Series A Preferred Stock plus any accrued and unpaid dividends on the Series A Preferred Stock. A liquidation would be deemed to occur upon the happening of customary events, including transfer of all or substantially all of the Company's capital stock or assets or a merger, consolidation, share exchange, reorganization or other transaction or series of related transactions, unless holders of 66 2/3% of the Series A Preferred Stock vote affirmatively in favor of or otherwise consent to such transaction. Series B Preferred Stock The Series B Preferred Stock ranks senior in liquidation and dividend preferences to the Company's common stock. Holders of Series B Preferred Stock are entitled to quarterly cumulative dividends payable in arrears in cash in an amount equal to 7.00% per annum of the purchase price per share of the Series B Preferred Stock; however, subject to the provisions of the Letter Agreement described below, such dividends may, at the option of the Company, be paid in additional shares of Series B Preferred Stock based initially on the liquidation value of the Series B Preferred Stock. In addition to the quarterly cumulative dividends, holders of the Series B Preferred Stock are entitled to participate in any common stock dividends declared by the Company to its common stockholders. The holders of Series B Preferred Stock have a liquidation preference over the holders of the Company's common stock initially equivalent to $19.50 per share of the Series B Preferred Stock plus any accrued and unpaid dividends on the Series B Preferred Stock. A liquidation will be deemed to occur upon the happening of customary events, including the transfer of all or substantially all of the capital stock or assets of the Company or a merger, consolidation, share exchange, reorganization or other transaction or series of related transaction, unless holders of 66 2/3% of the Series B Preferred Stock vote affirmatively in favor of or otherwise consent that such transaction shall not be treated as a liquidation. The Company believes that such liquidation events are within its control and therefore has classified the Series B Preferred Stock in stockholders' equity . As of December 31, 2018, the Series B Preferred Stock was convertible into 634,641 shares of the Company's common stock. The conversion ratio is subject to customary antidilution adjustments. In addition, antidilution adjustments are to occur in the event that the Company issues equity securities, including derivative securities convertible into equity securities (on an as-converted or as-exercised basis), at a price less than the conversion price then in effect. The shares of Series B Preferred Stock are also subject to forced conversion upon the occurrence of a transaction that would result in an internal rate of return to the holders of the Series B Preferred Stock of 25% or more. The forced conversion is to be based upon the conversion ratio as last adjusted. Accrued but unpaid dividends on the Series B Preferred Stock are to be paid in cash upon any conversion of the Series B Preferred Stock. The holders of Series B Preferred Stock vote together as a single class with the holders of the Company's common stock on all actions to be taken by the Company's stockholders. Each share of Series B Preferred Stock entitles the holder to approximately 0.03 votes per share on all matters to be voted on by the stockholders of the Company. Notwithstanding the foregoing, the holders of Series B Preferred Stock are afforded numerous customary protective provisions with respect to certain actions that may only be approved by holders of a majority of the shares of Series B Preferred Stock. In 2008, the Company entered into Letter Agreements with Lyles United LLC ("Lyles United") and other purchasers under which the Company expressly waived its rights under the Certificate of Designations relating to the Series B Preferred Stock to make dividend payments in additional shares of Series B Preferred Stock in lieu of cash dividend payments without the prior written consent of Lyles United and the other purchasers. On or about December 19, 2019, the Company and the holders of its Series B Preferred Stock entered into letter agreements under which the holders agreed that until the earlier of (i) the Company's repayment of its obligations in respect of its senior secured notes and thereafter until the next scheduled quarterly installment of Series B Preferred Stock dividends, or (ii) the occurrence of a specified event of default under the letter agreement, or (c) two years from the date of the letter agreement (collectively, the "Waiver Period"), the holders waive any rights and remedies against the Company with respect to any unpaid dividends. Cumulative dividends on the Series B Preferred Stock will continue to accrue during the Waiver Period and remain owing to the holders of the Series B Preferred Stock. Registration Rights Agreement The Company accrued and paid in cash preferred stock dividends of $946,000 and $1,265,000 for the years ended December 31, 2019 and 2018, respectively. The Company accrued but did not pay in cash preferred stock dividends of $319,000 for the year ended December 31, 2019.

COMMON STOCK AND WARRANTS.

COMMON STOCK AND WARRANTS.	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
COMMON STOCK AND WARRANTS	13. COMMON STOCK AND WARRANTS. The following table summarizes warrant activity for the years ended December 31, 2019 and 2018 (number of shares in thousands): Number of Price per Weighted Balance at December 31, 2017 4 $ 735.00 $ 735.00 Warrants expired (4 ) $ 735.00 $ 735.00 Balance at December 31, 2018 — $ — $ — Warrants issued 5,500 $ 1.00 $ 1.00 Balance at December 31, 2019 5,500 $ 1.00 $ 1.00 Warrants issued to Senior Noteholders Nonvoting Common Stock At-the-Market Program

STOCK-BASED COMPENSATION.

STOCK-BASED COMPENSATION.	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	14. STOCK-BASED COMPENSATION. The Company has two equity incentive compensation plans: a 2006 Stock Incentive Plan and a 2016 Stock Incentive Plan. 2006 Stock Incentive Plan 2016 Stock Incentive Plan Stock Options Years Ended December 31, 2019 2018 Number Weighted Average Exercise Price Number Weighted Average Outstanding at beginning of year 229 $ 4.15 230 $ 4.18 Options cancelled — — (1 ) 12.90 Outstanding at end of year 229 $ 4.15 229 $ 4.15 Options exercisable at end of year 229 $ 4.15 229 $ 4.15 Stock options outstanding as of December 31, 2019 were as follows (number of shares in thousands): Options Outstanding Options Exercisable Range of Number Weighted Average Remaining Contractual Life (yrs.) Weighted Number Exercisable Weighted $ 3.74 219 3.47 $ 3.74 219 $ 3.74 $ 12.90 10 1.59 $ 12.90 10 $ 12.90 The options outstanding at December 31, 2019 and 2018 had no intrinsic value. Restricted Stock Number of Weighted Unvested at December 31, 2018 1,635 $ 3.49 Issued 1,434 $ 1.01 Vested (669 ) $ 3.96 Canceled (199 ) $ 2.31 Unvested at December 31, 2019 2,201 $ 1.84 The fair value of the common stock at vesting aggregated $599,000 and $1,629,000for the years ended December 31, 2019 and 2018, respectively. Stock-based compensation expense related to employee and non-employee restricted stock and option grants recognized in selling, general and administrative expenses, were as follows (in thousands): Years Ended December 31, 2019 2018 Employees $ 2,422 $ 2,905 Non-employees 387 533 Total stock-based compensation expense $ 2,809 $ 3,438 Employee grants typically have a three year vesting schedule, while the non-employee grants have a one year vesting schedule. At December 31, 2019, the total compensation expense related to unvested awards which had not been recognized was $2,042,000 and the associated weighted-average period over which the compensation expense attributable to those unvested awards will be recognized was approximately 0.78 years.

COMMITMENTS AND CONTINGENCIES.

COMMITMENTS AND CONTINGENCIES.	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES.	15. COMMITMENTS AND CONTINGENCIES. Commitments Sales Commitments Purchase Commitments Assessment Financing . Contingencies Litigation The Company has evaluated the above cases as well as other pending cases. The Company currently has not recorded a litigation contingency liability with respect to these cases.

FAIR VALUE MEASUREMENTS.

FAIR VALUE MEASUREMENTS.	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS.	16. FAIR VALUE MEASUREMENTS. The fair value hierarchy prioritizes the inputs used in valuation techniques into three levels, as follows: ● Level 1 – Observable inputs – unadjusted quoted prices in active markets for identical assets and liabilities; ● Level 2 – Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability through corroboration with market data; and ● Level 3 – Unobservable inputs – includes amounts derived from valuation models where one or more significant inputs are unobservable. For fair value measurements using significant unobservable inputs, a description of the inputs and the information used to develop the inputs is required along with a reconciliation of Level 3 values from the prior reporting period. Pooled separate accounts Warrants Original Issuance Exercise Price Volatility Risk Free Interest Rate Term (years) Warrants Outstanding Fair Value 12/22/19 $ 1.00 76.0 % 1.66 % 3.00 5,500,000 $ 977,000 The fair values of the warrants are based on unobservable inputs and are designated as Level 3 inputs. Long-Lived Assets Held-for-Sale Other Derivative Instruments The following table summarizes recurring and nonrecurring fair value measurements by level at December 31, 2019 (in thousands): Benefit Plan Fair Percentage Value Level 1 Level 2 Level 3 Allocation Assets: Derivative financial instruments $ 2,438 $ 2,438 $ — $ — Long-lived assets held-for-sale 70,400 70,400 Defined benefit plan assets(1) (pooled separate accounts): Large U.S. Equity(2) 4,654 — 4,654 — 30 % Small/Mid U.S. Equity(3) 2,348 — 2,348 — 15 % International Equity(4) 2,596 — 2,596 — 17 % Fixed Income(5) 6,056 — 6,056 — 38 % $ 88,492 $ 2,438 $ 15,654 $ 70,400 Liabilities: Derivative financial instruments $ (1,860 ) $ (1,860 ) $ — $ — Warrants (977 ) — — (977 ) $ (2,837 ) $ (1,860 ) $ — $ (977 ) The following table summarizes recurring fair value measurements by level at December 31, 2018 (in thousands): Benefit Plan Fair Percentage Value Level 1 Level 2 Level 3 Allocation Assets: Derivative financial instruments $ 1,765 $ 1,765 $ — $ — Defined benefit plan assets(1) (pooled separate accounts): Large U.S. Equity(2) 3,621 — 3,621 — 27 % Small/Mid U.S. Equity(3) 1,844 — 1,844 — 14 % International Equity(4) 2,106 — 2,106 — 16 % Fixed Income(5) 5,686 — 5,686 — 43 % $ 15,022 $ 1,765 $ 13,257 $ — Liabilities: Derivative financial instruments $ (6,309 ) $ (6,309 ) $ — $ — (1) See Note 10 for accounting discussion. (2) This category includes investments in funds comprised of equity securities of large U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. (3) This category includes investments in funds comprised of equity securities of small- and medium-sized U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. (4) This category includes investments in funds comprised of equity securities of foreign companies including emerging markets. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. (5) This category includes investments in funds comprised of U.S. and foreign investment-grade fixed income securities, high-yield fixed income securities that are rated below investment-grade, U.S. treasury securities, mortgage-backed securities, and other asset-backed securities. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.

PARENT COMPANY FINANCIALS.

PARENT COMPANY FINANCIALS.	12 Months Ended
	Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]
PARENT COMPANY FINANCIALS.	17. PARENT COMPANY FINANCIALS. Restricted Net Assets 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

QUARTERLY FINANCIAL DATA (UNAUD

QUARTERLY FINANCIAL DATA (UNAUDITED).	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY FINANCIAL DATA (UNAUDITED).	18. QUARTERLY FINANCIAL DATA (UNAUDITED). The Company's quarterly results of operations for the years ended December 31, 2019 and 2018 are as follows (in thousands). First Second Third Fourth December 31, 2019: Net sales $ 355,803 $ 346,301 $ 365,160 $ 357,617 Gross profit (loss) $ (2,289 ) $ 3,971 $ (14,816 ) $ 3,196 Loss from operations $ (10,524 ) $ (2,737 ) $ (23,503 ) $ (37,919 ) Net loss attributed to Pacific Ethanol, Inc. $ (12,890 ) $ (7,646 ) $ (27,326 ) $ (41,087 ) Preferred stock dividends $ (312 ) $ (315 ) $ (319 ) $ (319 ) Net loss available to common stockholders $ (13,202 ) $ (7,961 ) $ (27,645 ) $ (41,406 ) Basic and diluted loss per common share $ (0.29 ) $ (0.17 ) $ (0.58 ) $ (0.85 ) December 31, 2018 Net sales $ 400,027 $ 410,522 $ 370,407 $ 334,415 Gross profit (loss) $ 3,362 $ (1,273 ) $ 3,768 $ (21,021 ) Loss from operations $ (5,953 ) $ (10,171 ) $ (5,202 ) $ (30,211 ) Net loss attributed to Pacific Ethanol, Inc. $ (7,841 ) $ (12,908 ) $ (7,514 ) $ (32,010 ) Preferred stock dividends $ (312 ) $ (315 ) $ (319 ) $ (319 ) Net loss available to common stockholders $ (8,153 ) $ (13,223 ) $ (7,833 ) $ (32,329 ) Basic and diluted loss per common share $ (0.19 ) $ (0.31 ) $ (0.18 ) $ (0.74 )

SUBSEQUENT EVENT.

SUBSEQUENT EVENT.	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENT.	19. SUBSEQUENT EVENT. In the first quarter of 2020, last year's novel strain of coronavirus (COVID-19), has resulted in businesses suspending or substantially curtailing global operations and travel, quarantines, and an overall substantial slowdown of economic activity. Transportation fuels in particular, including ethanol, have experienced significant price declines and reduced demand. A further downturn in global economic growth, or recessionary conditions in major geographic regions, will lead to reduced demand for ethanol and negatively affect the market prices of our products, further materially and adversely affecting our business, results of operations and liquidity. In response to this, the Company has reduced production at its facilities by more than 60%.

ORGANIZATION AND SIGNIFICANT _2

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES. (Policies)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	Organization and Business On December 15, 2016, the Company and Aurora Cooperative Elevator Company, a Nebraska cooperative corporation ("ACEC"), closed a transaction under a contribution agreement under which the Company contributed its Aurora, Nebraska ethanol facilities and ACEC contributed its Aurora grain elevator and related grain handling assets to Pacific Aurora, LLC ("Pacific Aurora") in exchange for equity interests in Pacific Aurora. On December 15, 2016, concurrently with the closing under the contribution agreement, the Company sold a portion of its equity interest in Pacific Aurora to ACEC. As a result, the Company owns 73.93% of Pacific Aurora and ACEC owns 26.07% of Pacific Aurora. Further, the Company has consolidated 100% of the results of Pacific Aurora and recorded ACEC's 26.07% equity interest as noncontrolling interests in the accompanying financial statements for all periods presented. The Company is a leading producer and marketer of low-carbon renewable fuels in the United States. The Company's four ethanol plants in the Western United States (together with their respective holding companies, the "Pacific Ethanol West Plants") are located in close proximity to both feed and ethanol customers and thus enjoy unique advantages in efficiency, logistics and product pricing. The Company's five ethanol plants in the Midwest (together with their respective holding companies, the "Pacific Ethanol Central Plants") are located in the heart of the Corn Belt, benefit from low-cost and abundant feedstock production and allow for access to many additional domestic markets. In addition, the Company's ability to load unit trains from these facilities in the Midwest allows for greater access to international markets. The Company has a combined production capacity of 605 million gallons per year, markets, on an annualized basis, nearly 1.0 billion gallons of ethanol and specialty alcohols, and produces, on an annualized basis, over 3.0 million tons of co-products on a dry matter basis, such as wet and dry distillers grains, wet and dry corn gluten feed, condensed distillers solubles, corn gluten meal, corn germ, dried yeast and CO 2 As of December 31, 2019, all but one of the Company's production facilities, specifically, the Company's Aurora East facility, were operating. As market conditions change, the Company may increase, decrease or idle production at one or more operating facilities or resume operations at any idled facility.
Basis of Presentation	Basis of Presentation – The consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") and include the accounts of the Company. All significant intercompany accounts and transactions have been eliminated in consolidation.
Liquidity	Liquidity The Company has agreed with its lenders to present by April 20, 2020 a comprehensive plan to restructure its assets and liabilities. The Company has appointed a chief restructuring officer to facilitate the development of such a plan and to assist in the Company's present strategic initiatives. The Company expects the plan will include completing planned asset sales, additional assets sales, soliciting new investments in the Company or its assets, further debt payment deferrals and reductions, cutting overhead expenses and other cash preserving initiatives. The Company intends that the plan will provide the means to maintain sufficient liquidity for the next twelve months.
Segments	Segments – A segment is a component of an enterprise whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available. The Company determines and discloses its segments in accordance with the Financial Accounting Standards Board's ("FASB") Accounting Standards Codification Section 280, Segment Reporting
Cash and Cash Equivalents	Cash and Cash Equivalents
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts The Company maintains an allowance for doubtful accounts for balances that appear to have specific collection issues. The collection process is based on the age of the invoice and requires attempted contacts with the customer at specified intervals. If, after a specified number of days, the Company has been unsuccessful in its collection efforts, a bad debt allowance is recorded for the balance in question. Delinquent accounts receivable are charged against the allowance for doubtful accounts once uncollectibility has been determined. The factors considered in reaching this determination are the apparent financial condition of the customer and the Company's success in contacting and negotiating with the customer. If the financial condition of the Company's customers were to deteriorate, resulting in an impairment of ability to make payments, additional allowances may be required. Of the accounts receivable balance, approximately $63,736,000 and $54,820,000 at December 31, 2019 and 2018, respectively, were used as collateral under Kinergy's operating line of credit. The allowance for doubtful accounts was $39,000 and $12,000 as of December 31, 2019 and 2018, respectively. The Company recorded a bad debt expense of $27,000 and $45,000 for the years ended December 31, 2019 and 2018, respectively. The Company does not have any off-balance sheet credit exposure related to its customers.
Concentration Risks	Concentration Risks The Company sells fuel-grade ethanol to gasoline refining and distribution companies. The Company sold ethanol to customers representing 10% or more of the Company's total net sales, as follows. Years Ended December 31, 2019 2018 Customer A 12 % 14 % Customer B 10 % 11 % The Company had accounts receivable due from these customers totaling $15,624,000 and $13,405,000, representing 21% and 20% of total accounts receivable, as of December 31, 2019 and 2018, respectively. The Company purchases corn, its largest cost component in producing ethanol, from its suppliers. The Company purchased corn from suppliers representing 10% or more of the Company's total corn purchases, as follows: Years Ended December 31, 2019 2018 Supplier A 18 % 17 % Supplier B 11 % 11 % Supplier C 10 % 14 % Supplier D 10 % 10 % As of December 31, 2019, approximately 37% of the Company's employees are covered by a collective bargaining agreement.
Inventories	Inventories December 31, 2019 2018 Finished goods $ 38,194 $ 35,778 Work in progress 7,426 6,855 Raw materials 7,890 7,233 Low-carbon and RIN credits 5,690 6,130 Other 1,400 1,824 Total $ 60,600 $ 57,820
Property and Equipment	Property and Equipment Buildings 40 years Facilities and plant equipment 10 – 25 years Other equipment, vehicles and furniture 5 – 10 years The cost of normal maintenance and repairs is charged to operations as incurred. Significant capital expenditures that increase the life of an asset are capitalized and depreciated over the estimated remaining useful life of the asset. The cost of property and equipment sold, or otherwise disposed of, and the related accumulated depreciation or amortization are removed from the accounts, and any resulting gains or losses are reflected in current operations.
Intangible Asset	Intangible Asset – The Company assesses indefinite-lived intangible assets for impairment annually, or more frequently if circumstances indicate impairment may have occurred. If the carrying value of an indefinite-lived intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. If the Company determines that an impairment charge is needed, the charge will be recorded as an asset impairment in the consolidated statements of operations.
Leases	Leases – In February 2016, the FASB issued new guidance on accounting for leases (ASC 842). Under the new guidance, lessees are required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted cash flow basis; and (2) a "right of use" asset, which is an asset that represents the lessee's right to use the specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged, with some minor exceptions. Lease expense under the new guidance is substantially the same as prior to the adoption. See Note 9 for further information.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities – Derivative transactions, which can include exchange-traded forward contracts and futures positions on the New York Mercantile Exchange or the Chicago Board of Trade, are recorded on the balance sheet as assets and liabilities based on the derivative's fair value. Changes in the fair value of derivative contracts are recognized currently in income unless specific hedge accounting criteria are met. If derivatives meet those criteria, and hedge accounting is elected, effective gains and losses are deferred in accumulated other comprehensive income (loss) and later recorded together with the hedged item in consolidated income (loss). For derivatives designated as a cash flow hedge, the Company formally documents the hedge and assesses the effectiveness with associated transactions. The Company has designated and documented contracts for the physical delivery of commodity products to and from counterparties as normal purchases and normal sales.
Revenue Recognition	Revenue Recognition Effective January 1, 2018, the Company adopted ASC 606 using the modified retrospective method for all of its contracts. Following the adoption of ASC 606, the Company continues to recognize revenue at a point-in-time when control of goods transfers to the customer. The timing of recognition is consistent with the Company's previous revenue recognition accounting policy under which the Company recognized revenue when title and risk of loss pass to the customer and collectability was reasonably assured. In addition, ASC 606 did not impact the Company's presentation of revenue on a gross or net basis. The Company recognizes revenue primarily from sales of ethanol and its related co-products. The Company has nine ethanol production facilities from which it produces and sells ethanol to its customers through Kinergy. Kinergy enters into sales contracts with ethanol customers under exclusive intercompany ethanol sales agreements with each of the Company's nine ethanol plants. Kinergy also acts as a principal when it purchases third party ethanol which it resells to its customers. Finally, Kinergy has exclusive sales agreements with other third-party owned ethanol plants under which it sells their ethanol production for a fee plus the costs to deliver the ethanol to Kinergy's customers. These sales are referred to as third-party agent sales. Revenue from these third-party agent sales is recorded on a net basis, with Kinergy recognizing its predetermined fees and any associated delivery costs. The Company has nine ethanol production facilities from which it produces and sells co-products to its customers through PAP. PAP enters into sales contracts with co-product customers under exclusive intercompany co-product sales agreements with each of the Company's nine ethanol plants. The Company recognizes revenue from sales of ethanol and co-products at the point in time when the customer obtains control of such products, which typically occurs upon delivery depending on the terms of the underlying contracts. In some instances, the Company enters into contracts with customers that contain multiple performance obligations to deliver volumes of ethanol or co-products over a contractual period of less than 12 months. The Company allocates the transaction price to each performance obligation identified in the contract based on relative standalone selling prices and recognizes the related revenue as control of each individual product is transferred to the customer in satisfaction of the corresponding performance obligations. When the Company is the agent, the supplier controls the products before they are transferred to the customer because the supplier is primarily responsible for fulfilling the promise to provide the product, has inventory risk before the product has been transferred to a customer and has discretion in establishing the price for the product. When the Company is the principal, the Company controls the products before they are transferred to the customer because the Company is primarily responsible for fulfilling the promise to provide the products, has inventory risk before the product has been transferred to a customer and has discretion in establishing the price for the product. See Note 4 for the Company's revenue by type of contracts.
Shipping and Handling Costs	Shipping and Handling Costs – The Company accounts for shipping and handling costs relating to contracts with customers as costs to fulfill its promise to transfer its products. Accordingly, the costs are classified as a component of cost of goods sold in the accompanying consolidated statements of operations.
Selling Costs	Selling Costs – Selling costs associated with the Company's product sales are classified as a component of selling, general and administrative expenses in the accompanying consolidated statements of operations.
Stock-Based Compensation	Stock-Based Compensation – The Company accounts for the cost of employee services received in exchange for the award of equity instruments based on the fair value of the award, determined on the date of grant. The expense is recognized over the period during which an employee is required to provide services in exchange for the award. The Company accounts for forfeitures as they occur. The Company recognizes stock-based compensation expense as a component of selling, general and administrative expenses in the consolidated statements of operations.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets
Deferred Financing Costs	Deferred Financing Costs – Deferred financing costs are costs incurred to obtain debt financing, including all related fees, and are amortized as interest expense over the term of the related financing using the straight-line method, which approximates the interest rate method. Amortization of deferred financing costs was approximately $511,000 and $900,000 for the years ended December 31, 2019 and 2018, respectively. Unamortized deferred financing costs were approximately $2,153,000 and $1,377,000 as of December 31, 2019 and 2018, respectively, and are recorded net of long-term debt in the consolidated balance sheets.
Provision for Income Taxes	Provision for Income Taxes The Company accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining whether it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount which is more than 50% likely of being realized upon ultimate settlement. An uncertain tax position is considered effectively settled on completion of an examination by a taxing authority if certain other conditions are satisfied. Should the Company incur interest and penalties relating to tax uncertainties, such amounts would be classified as a component of interest expense and other income (expense), net, respectively. Deferred tax assets and liabilities are classified as noncurrent in the Company's consolidated balance sheets. The Company files a consolidated federal income tax return. This return includes all wholly-owned subsidiaries as well as the Company's pro-rata share of taxable income from pass-through entities in which the Company owns less than 100%. State tax returns are filed on a consolidated, combined or separate basis depending on the applicable laws relating to the Company and its subsidiaries.
Income (Loss) Per Share	Income (Loss) Per Share The following tables compute basic and diluted earnings per share (in thousands, except per share data): Year Ended December 31, 2019 Loss Shares Per-Share Net loss attributed to Pacific Ethanol $ (88,949 ) Less: Preferred stock dividends (1,265 ) Basic and Diluted loss per share: Loss available to common stockholders $ (90,214 ) 47,384 $ (1.90 ) Year Ended December 31, 2018 Loss Shares Per-Share Net loss attributed to Pacific Ethanol $ (60,273 ) Less: Preferred stock dividends (1,265 ) Basic and Diluted loss per share: Loss available to common stockholders $ (61,538 ) 43,376 $ (1.42 ) There were an aggregate 635,000 potentially dilutive shares from convertible securities outstanding as of December 31, 2019 and 2018. These convertible securities were not considered in calculating diluted income (loss) per common share for the years ended December 31, 2019 and 2018 as their effect would be anti-dilutive.
Financial Instruments	Financial Instruments
Employment-related Benefits	Employment-related Benefits – Employment-related benefits associated with pensions and postretirement health care are expensed based on actuarial analysis. The recognition of expense is affected by estimates made by management, such as discount rates used to value certain liabilities, investment rates of return on plan assets, increases in future wage amounts and future health care costs. Discount rates are determined based on a spot yield curve that includes bonds with maturities that match expected benefit payments under the plan.
Estimates and Assumptions	Estimates and Assumptions – The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates are required as part of determining the allowance for doubtful accounts, net realizable value of inventory, estimated lives of property and equipment, long-lived asset impairments, valuation allowances on deferred income taxes and the potential outcome of future tax consequences of events recognized in the Company's financial statements or tax returns, and the valuation of assets acquired and liabilities assumed as a result of business combinations. Actual results and outcomes may materially differ from management's estimates and assumptions.
Subsequent Events	Subsequent Events – Management evaluates, as of each reporting period, events or transactions that occur after the balance sheet date through the date that the financial statements are issued for either disclosure or adjustment to the consolidated financial results.
Reclassifications	Reclassifications

ORGANIZATION AND SIGNIFICANT _3

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES. (Tables)	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of concentrations of credit risk major customers	Years Ended December 31, 2019 2018 Customer A 12 % 14 % Customer B 10 % 11 %
Schedule of purchases from external customers	The Company purchases corn, its largest cost component in producing ethanol, from its suppliers. The Company purchased corn from suppliers representing 10% or more of the Company's total corn purchases, as follows: Years Ended December 31, 2019 2018 Supplier A 18 % 17 % Supplier B 11 % 11 % Supplier C 10 % 14 % Supplier D 10 % 10 %
Schedule of inventory	Inventory balances consisted of the following (in thousands): December 31, 2019 2018 Finished goods $ 38,194 $ 35,778 Work in progress 7,426 6,855 Raw materials 7,890 7,233 Low-carbon and RIN credits 5,690 6,130 Other 1,400 1,824 Total $ 60,600 $ 57,820
Schedule of property and equipment useful lives	Depreciation is computed using the straight-line method over the following estimated useful lives: Buildings 40 years Facilities and plant equipment 10 – 25 years Other equipment, vehicles and furniture 5 – 10 years
Schedule of earnings per share	The following tables compute basic and diluted earnings per share (in thousands, except per share data): Year Ended December 31, 2019 Loss Shares Per-Share Net loss attributed to Pacific Ethanol $ (88,949 ) Less: Preferred stock dividends (1,265 ) Basic and Diluted loss per share: Loss available to common stockholders $ (90,214 ) 47,384 $ (1.90 ) Year Ended December 31, 2018 Loss Shares Per-Share Net loss attributed to Pacific Ethanol $ (60,273 ) Less: Preferred stock dividends (1,265 ) Basic and Diluted loss per share: Loss available to common stockholders $ (61,538 ) 43,376 $ (1.42 )

PACIFIC ETHANOL PLANTS. (Tables

PACIFIC ETHANOL PLANTS. (Tables)	12 Months Ended
	Dec. 31, 2019
Pacific Aurora [Member]
Schedule of defined contribution plan schedule	Cash and equivalents $ 103 Inventories 2,079 Other current assets 341 Total current assets 2,523 Property and equipment 70,400 Other assets 13,341 Total assets held-for-sale 86,264 Less: noncurrent assets 16,500 Total assets held-for-sale, current portion $ 69,764 Accounts payable and accrued expenses $ 20,711 Other current liabilities 5,497 Total current liabilities 26,208 Other non-current liabilities 8,205 Total liabilities held-for-sale $ 34,413

SEGMENTS. (Tables)

SEGMENTS. (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Schedule of financial data for operating segments	Years Ended December 31, Net Sales 2019 2018 Production, recorded as gross: Ethanol/alcohol sales $ 800,262 $ 859,815 Co-product sales 268,996 296,686 Intersegment sales 1,619 1,995 Total production sales 1,070,877 1,158,496 Marketing and distribution: Ethanol/alcohol sales, gross $ 353,792 $ 357,011 Ethanol/alcohol sales, net 1,831 1,859 Intersegment sales 7,901 8,773 Total marketing and distribution sales 363,524 367,643 Intersegment eliminations (9,520 ) (10,768 ) Net sales as reported $ 1,424,881 $ 1,515,371 Cost of goods sold: Production $ 1,095,742 $ 1,197,507 Marketing and distribution 349,906 343,991 Intersegment eliminations (10,829 ) (10,963 ) Cost of goods sold as reported $ 1,434,819 $ 1,530,535 Income (loss) before benefit for income taxes: Production $ (93,367 ) $ (77,833 ) Marketing and distribution 7,442 18,191 Corporate activities (15,357 ) (8,856 ) $ (101,282 ) $ (68,498 ) Depreciation: Production $ 47,206 $ 40,099 Corporate activities 703 750 $ 47,909 $ 40,849 Interest expense: Production $ 7,569 $ 7,116 Marketing and distribution 3,053 1,388 Corporate activities 9,584 8,628 $ 20,206 $ 17,132
Schedule of assets by operating segments	December 31, December 31, Total assets: Production $ 492,060 $ 532,790 Marketing and distribution 106,863 112,984 Corporate assets 13,572 14,117 $ 612,495 $ 659,891

PROPERTY AND EQUIPMENT. (Tables

PROPERTY AND EQUIPMENT. (Tables)	12 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	December 31, 2019 2018 Facilities and plant equipment $ 495,513 $ 621,909 Land 7,219 8,970 Other equipment, vehicles and furniture 11,229 11,812 Construction in progress 15,793 30,312 529,754 673,003 Accumulated depreciation (197,228 ) (190,346 ) $ 332,526 $ 482,657

DERIVATIVES. (Tables)

DERIVATIVES. (Tables)	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivatives not designated as hedging instruments	Non Designated Derivative Instruments As of December 31, 2019 Assets Liabilities Type of Instrument Balance Sheet Location Fair Value Balance Sheet Location Fair Value Cash collateral balance Other current assets $ 615 Commodity contracts Derivative assets $ 2,438 Derivative liabilities $ 1,860 As of December 31, 2018 Assets Liabilities Type of Instrument Balance Sheet Location Fair Value Balance Sheet Location Fair Value Cash collateral balance Other current assets $ 8,479 Commodity contracts Derivative assets $ 1,765 Derivative liabilities $ 6,309
Schedule of recognized gains (losses) for derivatives	The classification and amounts of the Company's recognized gains (losses) for its derivatives not designated as hedging instruments are as follows (in thousands): Realized Losses For the Years Ended Type of Instrument Statements of Operations Location 2019 2018 Commodity contracts Cost of goods sold $ (4,568 ) $ (3,479 ) $ (4,568 ) $ (3,479 ) Unrealized Gains (Losses) For the Years Ended Type of Instrument Statements of Operations Location 2019 2018 Commodity contracts Cost of goods sold $ 5,123 $ (3,235 ) $ 5,123 $ (3,235 )

DEBT. (Tables)

DEBT. (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of long term debt	December 31, December 31, Kinergy line of credit $ 78,338 $ 57,057 Pekin term loan 39,500 43,000 Pekin revolving loan 32,000 32,000 ICP term loan 12,000 16,500 ICP revolving loan 18,000 18,000 Parent notes payable 65,649 66,948 245,487 233,505 Less unamortized debt premium (discount) 461 (690 ) Less unamortized debt financing costs (2,153 ) (1,377 ) Less short-term portion (63,000 ) (146,671 ) Long-term debt $ 180,795 $ 84,767
Schedule of maturities of long-term debt	December 31: 2020 $ 63,000 2021 94,149 2022 88,338 2023 — 2024 — $ 245,487

LEASES. (Tables)

LEASES. (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Schedule of operating lease liabilities	The following table summarizes the remaining maturities of the Company's operating lease liabilities, assuming all land lease extensions are taken, as of December 31, 2019 (in thousands): Year Ended: Equipment Land Related 2020 $ 3,736 $ 1,054 2021 2,202 1,077 2022 2,083 1,100 2023 1,475 1,013 2024 858 1,001 2025-43 726 33,160 Less Interest (1,453 ) (23,404 ) $ 9,627 $ 15,001

PENSION PLANS. (Tables)

PENSION PLANS. (Tables)	12 Months Ended
	Dec. 31, 2019
Postretirement Plan [Member]
Schedule of defined contribution plan schedule	2019 2018 Changes in plan assets: Fair value of plan assets, beginning $ 13,257 $ 13,958 Actual gains (losses) 2,692 (946 ) Benefits paid (698 ) (667 ) Company contributions 403 912 Participant contributions — — Fair value of plan assets, ending $ 15,654 $ 13,257 Less: projected accumulated benefit obligation $ 21,643 $ 18,690 Funded status, (underfunded)/overfunded $ (5,989 ) $ (5,433 ) Amounts recognized in the consolidated balance sheets: Other liabilities $ (5,989 ) $ (5,433 ) Accumulated other comprehensive loss (income) $ 1,654 $ 1,069 Components of net periodic benefit costs are as follows: Service cost $ 374 $ 424 Interest cost 760 694 Expected return on plan assets (760 ) (816 ) Net periodic benefit cost $ 374 $ 302 Loss recognized in other comprehensive income (expense) $ 585 $ 343 Assumptions used in computation benefit obligations: Discount rate 3.25 % 4.15 % Expected long-term return on plan assets 6.25 % 6.25 % Rate of compensation increase — —
Schedule of expected benefit payments	The following table summarizes the expected benefit payments for the Company's Retirement Plan for each of the next five fiscal years and in the aggregate for the five fiscal years thereafter (in thousands): December 31: 2020 $ 800 2021 810 2022 840 2023 880 2024 920 2025-29 5,250 $ 9,500
Retirement Plan [Member]
Schedule of defined contribution plan schedule	Information related to the Postretirement Plan as of December 31, 2019 and 2018 is presented below (dollars in thousands): 2019 2018 Amounts at the end of the year: Accumulated/projected benefit obligation $ 5,274 $ 5,711 Fair value of plan assets — — Funded status, (underfunded)/overfunded $ (5,274 ) $ (5,711 ) Amounts recognized in the consolidated balance sheets: Accrued liabilities $ (280 ) $ (320 ) Other liabilities $ (4,994 ) $ (5,391 ) Accumulated other comprehensive loss $ 716 $ 1,390 Years Ended December 31, 2019 2018 Amounts recognized in the plan for the year: Company contributions $ 171 $ 137 Participant contributions $ 24 $ 14 Benefits paid $ (195 ) $ (152 ) Components of net periodic benefit costs are as follows: Service cost $ 67 $ 83 Interest cost 219 182 Amortization of prior service costs 122 131 Net periodic benefit cost $ 408 $ 396 Gain recognized in other comprehensive income $ (674 ) $ (118 ) Discount rate used in computation of benefit obligations 2.95 % 3.35 %
Schedule of expected benefit payments	The following table summarizes the expected benefit payments for the Company's Post-Retirement Plan for each of the next five fiscal years and in the aggregate for the five fiscal years thereafter (in thousands): December 31: 2020 $ 280 2021 320 2022 300 2023 330 2024 370 Thereafter 2,060 $ 3,660

INCOME TAXES. (Tables)

INCOME TAXES. (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of provision for income taxes	The Company recorded a provision (benefit) for income taxes as follows (in thousands): Years Ended December 31, 2019 2018 Current provision (benefit) $ (22 ) $ (589 ) Deferred provision (benefit) 2 27 Total $ (20 ) $ (562 )
Schedule of reconciliation of effective tax rate	A reconciliation of the differences between the United States statutory federal income tax rate and the effective tax rate as provided in the consolidated statements of operations is as follows: Years Ended December 31, 2019 2018 Statutory rate 21.0 % 21.0 % State income taxes, net of federal benefit 5.7 5.4 Change in valuation allowance (22.4 ) (20.3 ) Noncontrolling interest (3.3 ) (3.0 ) Non-deductible items (0.1 ) (0.7 ) Other (1.0 ) (1.6 ) Effective rate (0.1 )% 0.8 %
Schedule of components of deferred income taxes	The components of deferred income taxes included in the consolidated balance sheets were as follows (in thousands): December 31, 2019 2018 Deferred tax assets: Net operating loss carryforwards $ 61,775 $ 48,082 R&D, Energy and AMT credits 3,864 4,247 Disallowed interest 8,242 3,769 Railcar contracts 379 650 Stock-based compensation 551 782 Allowance for doubtful accounts and other assets 578 643 Derivatives — 1,214 Pension liability 2,979 2,941 Property and equipment 3,325 — Other 3,458 2,134 Total deferred tax assets 85,151 64,462 Deferred tax liabilities: Property and equipment — (23,013 ) Intangibles (749 ) (749 ) Derivatives (153 ) — Other (437 ) (363 ) Total deferred tax liabilities (1,339 ) (24,125 ) Valuation allowance (84,065 ) (40,588 ) Net deferred tax liabilities, included in other liabilities $ (253 ) $ (251 )
Schedule of net operating loss carryforwards	These net operating loss carryforwards expire as follows (in thousands): Tax Years Federal State 2020–2024 $ — $ — 2025–2029 13,781 28,993 2030–2034 101,576 35,238 2035 and after 41,942 152,034 Non-expiring NOLs 71,538 — Total NOLs $ 228,837 $ 216,265 Certain of these net operating losses are not immediately available, but become available to be utilized in each of the years ended December 31, as follows (in thousands): Year Federal State 2020 $ 146,738 $ 169,539 2021 6,308 5,318 2022 6,308 5,318 2023 6,308 5,318 2024 6,308 5,135
Schedule of income tax in the United States jurisdiction and various state jurisdictions	These jurisdictions, along with the years still open to audit under the applicable statutes of limitation, are as follows: Jurisdiction Tax Years Federal 2016 – 2018 Arizona 2015 – 2018 California 2015 – 2018 Colorado 2014 – 2018 Idaho 2016 – 2018 Illinois 2016 – 2018 Indiana 2016 – 2018 Iowa 2016 – 2018 Kansas 2016 – 2018 Minnesota 2016 – 2018 Missouri 2016 – 2018 Nebraska 2016 – 2018 Oklahoma 2016 – 2018 Oregon 2016 – 2018 Texas 2015 – 2018

COMMON STOCK AND WARRANTS. (Tab

COMMON STOCK AND WARRANTS. (Tables)	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
Schedule of warrant activity	Number of Price per Weighted Balance at December 31, 2017 4 $ 735.00 $ 735.00 Warrants expired (4 ) $ 735.00 $ 735.00 Balance at December 31, 2018 — $ — $ — Warrants issued 5,500 $ 1.00 $ 1.00 Balance at December 31, 2019 5,500 $ 1.00 $ 1.00

STOCK-BASED COMPENSATION. (Tabl

STOCK-BASED COMPENSATION. (Tables)	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Schedule of option activity	The status of Company's stock option plans as of December 31, 2019 and 2018 and of changes in options outstanding under the Company's plans during those years are as follows (number of shares in thousands): Years Ended December 31, 2019 2018 Number Weighted Average Exercise Price Number Weighted Average Outstanding at beginning of year 229 $ 4.15 230 $ 4.18 Options cancelled — — (1 ) 12.90 Outstanding at end of year 229 $ 4.15 229 $ 4.15 Options exercisable at end of year 229 $ 4.15 229 $ 4.15
Schedule of stock options by exercise price range	Stock options outstanding as of December 31, 2019 were as follows (number of shares in thousands): Options Outstanding Options Exercisable Range of Number Weighted Average Remaining Contractual Life (yrs.) Weighted Number Exercisable Weighted $ 3.74 219 3.47 $ 3.74 219 $ 3.74 $ 12.90 10 1.59 $ 12.90 10 $ 12.90
Schedule of unvested restricted stock activity	The Company granted to certain employees and directors shares of restricted stock under its 2006 and 2016 Stock Incentive Plans. A summary of unvested restricted stock activity is as follows (shares in thousands): Number of Weighted Unvested at December 31, 2018 1,635 $ 3.49 Issued 1,434 $ 1.01 Vested (669 ) $ 3.96 Canceled (199 ) $ 2.31 Unvested at December 31, 2019 2,201 $ 1.84
Schedule of stock-based compensation expense	Stock-based compensation expense related to employee and non-employee restricted stock and option grants recognized in selling, general and administrative expenses, were as follows (in thousands): Years Ended December 31, 2019 2018 Employees $ 2,422 $ 2,905 Non-employees 387 533 Total stock-based compensation expense $ 2,809 $ 3,438

FAIR VALUE MEASUREMENTS. (Table

FAIR VALUE MEASUREMENTS. (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of used and related fair value for the warrants	Original Issuance Exercise Price Volatility Risk Free Interest Rate Term (years) Warrants Outstanding Fair Value 12/22/19 $ 1.00 76.0 % 1.66 % 3.00 5,500,000 $ 977,000
Schedule of recurring fair value measurements	Benefit Plan Fair Percentage Value Level 1 Level 2 Level 3 Allocation Assets: Derivative financial instruments $ 2,438 $ 2,438 $ — $ — Long-lived assets held-for-sale 70,400 70,400 Defined benefit plan assets(1) (pooled separate accounts): Large U.S. Equity(2) 4,654 — 4,654 — 30 % Small/Mid U.S. Equity(3) 2,348 — 2,348 — 15 % International Equity(4) 2,596 — 2,596 — 17 % Fixed Income(5) 6,056 — 6,056 — 38 % $ 88,492 $ 2,438 $ 15,654 $ 70,400 Liabilities: Derivative financial instruments $ (1,860 ) $ (1,860 ) $ — $ — Warrants (977 ) — — (977 ) $ (2,837 ) $ (1,860 ) $ — $ (977 ) The following table summarizes recurring fair value measurements by level at December 31, 2018 (in thousands): Benefit Plan Fair Percentage Value Level 1 Level 2 Level 3 Allocation Assets: Derivative financial instruments $ 1,765 $ 1,765 $ — $ — Defined benefit plan assets(1) (pooled separate accounts): Large U.S. Equity(2) 3,621 — 3,621 — 27 % Small/Mid U.S. Equity(3) 1,844 — 1,844 — 14 % International Equity(4) 2,106 — 2,106 — 16 % Fixed Income(5) 5,686 — 5,686 — 43 % $ 15,022 $ 1,765 $ 13,257 $ — Liabilities: Derivative financial instruments $ (6,309 ) $ (6,309 ) $ — $ — (1) See Note 10 for accounting discussion. (2) This category includes investments in funds comprised of equity securities of large U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. (3) This category includes investments in funds comprised of equity securities of small- and medium-sized U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. (4) This category includes investments in funds comprised of equity securities of foreign companies including emerging markets. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. (5) This category includes investments in funds comprised of U.S. and foreign investment-grade fixed income securities, high-yield fixed income securities that are rated below investment-grade, U.S. treasury securities, mortgage-backed securities, and other asset-backed securities. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.

PARENT COMPANY FINANCIALS. (Tab

PARENT COMPANY FINANCIALS. (Tables)	12 Months Ended
	Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]
Schedule of balance sheets - parent company	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
Schedule of statement of operations parent company	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 )
Schedule of statement of cash flows parent company	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

QUARTERLY FINANCIAL DATA (UNA_2

QUARTERLY FINANCIAL DATA (UNAUDITED). (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly results of operations	First Second Third Fourth December 31, 2019: Net sales $ 355,803 $ 346,301 $ 365,160 $ 357,617 Gross profit (loss) $ (2,289 ) $ 3,971 $ (14,816 ) $ 3,196 Loss from operations $ (10,524 ) $ (2,737 ) $ (23,503 ) $ (37,919 ) Net loss attributed to Pacific Ethanol, Inc. $ (12,890 ) $ (7,646 ) $ (27,326 ) $ (41,087 ) Preferred stock dividends $ (312 ) $ (315 ) $ (319 ) $ (319 ) Net loss available to common stockholders $ (13,202 ) $ (7,961 ) $ (27,645 ) $ (41,406 ) Basic and diluted loss per common share $ (0.29 ) $ (0.17 ) $ (0.58 ) $ (0.85 ) December 31, 2018 Net sales $ 400,027 $ 410,522 $ 370,407 $ 334,415 Gross profit (loss) $ 3,362 $ (1,273 ) $ 3,768 $ (21,021 ) Loss from operations $ (5,953 ) $ (10,171 ) $ (5,202 ) $ (30,211 ) Net loss attributed to Pacific Ethanol, Inc. $ (7,841 ) $ (12,908 ) $ (7,514 ) $ (32,010 ) Preferred stock dividends $ (312 ) $ (315 ) $ (319 ) $ (319 ) Net loss available to common stockholders $ (8,153 ) $ (13,223 ) $ (7,833 ) $ (32,329 ) Basic and diluted loss per common share $ (0.19 ) $ (0.31 ) $ (0.18 ) $ (0.74 )

ORGANIZATION AND SIGNIFICANT _4

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES. (Details) - Sales [Member]	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Customer A [Member]
Concentration risk percentage	12.00%	14.00%
Customer B [Member]
Concentration risk percentage	10.00%	11.00%

ORGANIZATION AND SIGNIFICANT _5

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES. (Details 1) - Purchases [Member]	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Supplier B [Member]
Concentration percentage	11.00%	11.00%
Supplier A [Member]
Concentration percentage	18.00%	17.00%
Supplier D [Memebr]
Concentration percentage	10.00%	10.00%
Supplier C [Memebr]
Concentration percentage	10.00%	14.00%

ORGANIZATION AND SIGNIFICANT _6

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES. (Details 2) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Finished goods	$ 38,194	$ 35,778
Work in progress	7,426	6,855
Raw materials	7,890	7,233
Low-carbon and RIN credits	5,690	6,130
Other	1,400	1,824
Total	$ 60,600	$ 57,820

ORGANIZATION AND SIGNIFICANT _7

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES. (Details 3)	12 Months Ended
	Dec. 31, 2019
Buildings [Member]
Property Plant and Equipment Useful Life	40 years
Facilities and plant equipment [Member] | Minimum [Member]
Property Plant and Equipment Useful Life	10 years
Facilities and plant equipment [Member] | Maximum [Member]
Property Plant and Equipment Useful Life	25 years
Other equipment, vehicles and furniture [Member] | Minimum [Member]
Property Plant and Equipment Useful Life	5 years
Other equipment, vehicles and furniture [Member] | Maximum [Member]
Property Plant and Equipment Useful Life	10 years

ORGANIZATION AND SIGNIFICANT _8

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES. (Details 4) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Loss Numerator
Net loss attributed to Pacific Ethanol	$ (41,087)	$ (27,326)	$ (7,646)	$ (12,890)	$ (32,010)	$ (7,514)	$ (12,908)	$ (7,841)	$ (88,949)	$ (60,273)
Less: Preferred stock dividends									(1,265)	(1,265)
Basic and Diluted loss per share:
Loss available to common stockholders									$ (90,214)	$ (61,538)
Shares Denominator
Loss available to common stockholders									47,384	43,376
Per-Share Amount
Loss available to common stockholders	$ (0.85)	$ (0.58)	$ (0.17)	$ (0.29)	$ (0.74)	$ (0.18)	$ (0.31)	$ (0.19)	$ (1.9)	$ (1.42)

ORGANIZATION AND SIGNIFICANT _9

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES. (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 15, 2016
Equity interest owned			100.00%
Ethanol production capacity per year	605 million gallons per year.
Ethanol market capacity per year	Markets, on an annualized basis, nearly 1.0 billion gallons of ethanol.
Other products produced per year	Produces, on an annualized basis, over 3.0 million tons of co-products.
Accounts receivable used as collateral	$ 63,736	$ 54,820
Allowance for doubtful accounts	39	12
Bad debt expense	27	45
Accounts receivable	74,307	67,636
Net inventory valuation adjustment	1,290	2,328
Amortization of deferred financing costs	511	900
Unamortized deferred financing costs	$ 2,153	$ 1,377
Tax benefit	(0.10%)	0.80%
State tax return	5.70%	5.40%
Potentially dilutive shares from convertible securities outstanding		635,000
Employees covered by collective bargaining agreement	37.00%
Total purchase of ethanol	10.00%
Conserve capital, percentage	60.00%
Customer A And B [Member]
Accounts receivable	$ 15,624	$ 13,405
Concentration risk percentage	21.00%	20.00%
Aurora Cooperative Elevator Company [Memeber]
Equity interest owned			26.07%
Pacific Aurora [Member]
Equity interest owned	100.00%		73.93%
Pacific Aurora [Member] | Aurora Cooperative Elevator Company [Memeber]
Equity interest owned			26.07%

PACIFIC ETHANOL PLANTS. (Detail

PACIFIC ETHANOL PLANTS. (Details) - Pacific Aurora [Member] $ in Thousands	Dec. 31, 2019USD ($)
Cash and equivalents	$ 103
Inventories	2,079
Other current assets	341
Total current assets	2,523
Property and equipment	70,400
Other assets	13,341
Total assets held-for-sale	86,264
Less: noncurrent assets	(16,500)
Total assets held-for-sale, current portion	69,764
Accounts payable and accrued expenses	20,711
Other current liabilities	5,497
Total current liabilities	26,208
Other non-current liabilities	8,205
Total liabilities held-for-sale	$ 34,413

PACIFIC ETHANOL PLANTS. (Deta_2

PACIFIC ETHANOL PLANTS. (Details Narrative) - USD ($) $ in Thousands	Dec. 15, 2016	Feb. 28, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 19, 2019
Equity interest owned	100.00%
Additional paid in capital for book value and contribution and sale											$ 16,200
Imapirment of assets held for sale			$ 29,300								29,300
Net Revenue											1,424,881	$ 1,515,371
Pre-tax income (loss)											(101,302)	(68,498)
Net loss			$ (41,087)	$ (27,326)	$ (7,646)	$ (12,890)	$ (32,010)	$ (7,514)	$ (12,908)	$ (7,841)	$ (88,949)	(60,273)
Aurora Cooperative Elevator Company [Memeber]
Equity interest owned	26.07%
Pacific Aurora [Member]
Description of agreement closed term	(i) PE Central contributed to Pacific Aurora 100% of the equity interests of its wholly-owned subsidiaries, Pacific Ethanol Aurora East, LLC (“AE”) and Pacific Ethanol Aurora West, LLC (“AW”), which owned the Company’s Aurora East and Aurora West ethanol plants, respectively, and (ii) ACEC contributed to Pacific Aurora its grain elevator adjacent to the Aurora East and Aurora West properties and related grain handling assets, including the outer rail loop and the real property on which they are located. Following the closing of these transactions, PE Central owned 73.93% of Pacific Aurora and ACEC owned 26.07% of Pacific Aurora.
Equity interest owned	73.93%		100.00%								100.00%
Net Revenue											$ 163,500	233,600
Pre-tax income (loss)											43,400	24,300
Net loss											$ 12,300	$ 7,700
Pacific Aurora [Member] | Aurora Cooperative Elevator Company [Memeber]
Equity interest owned	26.07%
PE Central [Member]
Equity interest owned													73.93%
Equity ownership interest													$ 52,800
Subsequent Event [Member] | Pacific Aurora [Member] | Aurora Cooperative Elevator Company [Memeber]
Total consideration		$ 52,800
Promissory notes		$ 16,500

INTERCOMPANY AGREEMENTS. (Detai

INTERCOMPANY AGREEMENTS. (Details Narrative) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 15, 2016Segments$ / shares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)
Affiliate Management Agreement [Member]
Agreement term	1 year
Agreement renewal term	1 year
Description of agreement termination	Pacific Ethanol may terminate the AMA, and any subsidiary may terminate the AMA, at any time by providing at least 90 days prior notice of such termination.
Revenues from related party		$ 12,682	$ 12,048
Ethanol Marketing Agreement [Member] | Ethanol Marketing Agreement [Member]
Agreement term	1 year
Agreement renewal term	1 year
Description of agreement termination	(i) The estimated purchase price payable by the third-party purchaser of the ethanol, minus (ii) the estimated amount of transportation costs to be incurred, minus (iii) the estimated incentive fee payable to Kinergy, which equals 1% of the aggregate third-party purchase price, provided that the marketing fee shall not be less than $0.015 per gallon and not more than $0.0225 per gallon.
Revenues from related party		7,900,800	8,773
Number of plants | Segments	9
CornProcurement Agreement [Member] | Pacific Aurora [Member] | ACEC [Member]
Agreement term	1 year
Agreement renewal term	1 year
Services fees (per bushel) | $ / shares	$ 0.03
Grain procurement expenses		$ 1,103	1,381
CornProcurement Agreement [Member] | PacificAg Products [Member]
Agreement term	1 year
Agreement renewal term	1 year
Description of agreement termination	Each facility appointed PAP as its exclusive agent to solicit, negotiate, enter into and administer, on its behalf, corn supply arrangements to procure the corn necessary to operate its facility.
Services fees (per bushel) | $ / shares	$ 0.03	$ 0.045
Revenues from related party		$ 4,288	4,531
Distillers Grains Marketing Agreements [Member] | PacificAg Products [Member]
Description of agreement termination		Within ten days after a plant delivers co-products to PAP, the plant is paid an amount equal to (i) the estimated purchase price payable by the third-party purchaser of the co-products, minus (ii) the estimated amount of transportation costs to be incurred, minus (iii) the estimated amount of fees and taxes payable to governmental authorities in connection with the tonnage of the co-products produced or marketed, minus (iv) the estimated incentive fee payable to the Company, which equals (a) 5% of the aggregate third-party purchase price for wet corn gluten feed, wet distillers grains, corn condensed distillers solubles and distillers grains with solubles, or (b) 1% of the aggregate third-party purchase price for corn gluten meal, dry corn gluten feed, dry distillers grains, corn germ and corn oil. Each distillers grains marketing agreement had an initial term of one year and successive one year renewal periods at the option of the individual plant.
Revenues from related party		$ 6,029	$ 6,572

SEGMENTS. (Details)

SEGMENTS. (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Net Sales									$ 1,424,881	$ 1,515,371
Cost of goods sold	$ 357,617	$ 365,160	$ 346,301	$ 355,803	$ 334,415	$ 370,407	$ 410,522	$ 400,027	1,434,819	1,530,535
Income (loss) before benefit for income taxes									(101,302)	(68,498)
Depreciation									47,909	40,849
Interest expense									20,206	17,132
Intersegment eliminations [Member]
Net Sales									(9,520)	(10,768)
Cost of goods sold									(10,829)	(10,963)
Ethanol Production [Member]
Net Sales									1,070,877	1,158,496
Cost of goods sold									1,095,742	1,197,507
Income (loss) before benefit for income taxes									(93,367)	(77,833)
Depreciation									47,206	40,099
Interest expense									7,569	7,116
Ethanol Production [Member] | Ethanol/alcohol sales [Member]
Net Sales									800,262	859,815
Ethanol Production [Member] | Co-product sales [Member]
Net Sales									268,996	296,686
Ethanol Production [Member] | Intersegment sales [Member]
Net Sales									1,619	1,995
Marketing and distribution [Member]
Cost of goods sold									349,906	343,991
Income (loss) before benefit for income taxes									7,442	18,191
Interest expense									3,053	1,388
Marketing and distribution [Member] | Ethanol/alcohol sales, gross [Member]
Net Sales									353,792	357,011
Marketing and distribution [Member] | Ethanol/alcohol sales, net [Member]
Net Sales									1,831	1,859
Marketing and distribution [Member] | Intersegment eliminations [Member]
Net Sales									7,901	8,773
Total marketing and distribution sales [Member]
Net Sales									363,524	367,643
Corporate activities [Member]
Income (loss) before benefit for income taxes									(15,357)	(8,856)
Depreciation									703	750
Interest expense									$ 9,584	$ 8,628

SEGMENTS. (Details 1)

SEGMENTS. (Details 1) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Total Assets	$ 612,495	$ 659,981
Production [Member]
Total Assets	492,060	532,790
Marketing and distribution [Member]
Total Assets	106,863	112,984
Corporate assets [Member]
Total Assets	$ 13,572	$ 14,117

SEGMENTS. (Details Narrative)

SEGMENTS. (Details Narrative) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)Segments	Dec. 31, 2018USD ($)
Number of operating segments | Segments	2
Production Segment [Member]
Management fees	$ 10,522	$ 10,248
Marketing and Distribution Segment [Member]
Management fees	$ 2,160	$ 2,160

PROPERTY AND EQUIPMENT. (Detail

PROPERTY AND EQUIPMENT. (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment, Gross	$ 3,325
Accumulated depreciation	(197,228)	(190,346)
Property, Plant and Equipment, Net	332,526	482,657
Facilities and plant equipment [Member]
Property, Plant and Equipment, Gross	495,513	621,909
Land [Member]
Property, Plant and Equipment, Gross	7,219	8,970
Other equipment, vehicles and furniture [Member]
Property, Plant and Equipment, Gross	11,229	11,812
Construction in progress [Member]
Property, Plant and Equipment, Gross	$ 15,793	$ 30,312

PROPERTY AND EQUIPMENT. (Deta_2

PROPERTY AND EQUIPMENT. (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Depreciation expense	$ 40,931	$ 40,849
Capital Investment Activities [Member]
Capitalized interest	$ 563	$ 1,170

INTANGIBLE ASSET. (Details Narr

INTANGIBLE ASSET. (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2016
Intangible assets amount	$ 2,678	$ 2,678
Trade Names [Member] | Kinergy Marketing LLC [Member]
Intangible assets amount			$ 2,678

DERIVATIVES. (Details)

DERIVATIVES. (Details) - Non Designated Derivative Instruments [Member] - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Cash collateral balance [Member]
Derivative assets	$ 615	$ 8,479
Commodity contracts [Member]
Derivative assets	2,438	1,765
Derivative liabilities	$ 1,860	$ 6,309

DERIVATIVES. (Details 1)

DERIVATIVES. (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Realized Losses	$ (4,568)	$ (3,479)
Unrealized Gains (Losses)	5,123	(3,235)
Non Designated Derivative Instruments [Member] | Commodity Contracts [Member] | Cost of goods sold [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized Losses	(4,568)	(3,479)
Unrealized Gains (Losses)	$ 5,123	$ (3,235)

DERIVATIVES. (Details Narrative

DERIVATIVES. (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Recognized gains and losses due to change in fair value	$ 555	$ 6,714

DEBT. (Details)

DEBT. (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Long-term borrowings are summarized as follows
Total debt	$ 245,487	$ 233,505
Less unamortized debt premium (discount)	461	(690)
Less unamortized debt financing costs	(2,153)	(1,377)
Less short-term portion	(63,000)	(146,671)
Long-term debt	180,795	84,767
ICP term loan [Member] | Illinois Corn Processing, LLC [Member]
Long-term borrowings are summarized as follows
Term debt	12,000	16,500
Parent Notes Payable [Member]
Long-term borrowings are summarized as follows
Notes payable	65,649	66,948
ICP revolving loan [Member] | Illinois Corn Processing, LLC [Member]
Long-term borrowings are summarized as follows
Term debt	18,000	18,000
Kinergy line of credit [Member] | Pekin term loan [Member]
Long-term borrowings are summarized as follows
Line of credit	78,338	57,057
Pacific Ethanol Pekin, LLC [Member] | ICP term loan [Member]
Long-term borrowings are summarized as follows
Term debt	39,500	43,000
Pacific Ethanol Pekin, LLC [Member] | ICP revolving loan [Member]
Long-term borrowings are summarized as follows
Term debt	$ 32,000	$ 32,000

DEBT. (Details 1)

DEBT. (Details 1) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
2020	$ 63,000
2021	94,149
2022	88,338
2023
2024
Total debt	$ 245,487	$ 233,505

DEBT. (Details Narrative)

DEBT. (Details Narrative) - USD ($) $ in Thousands

Dec. 16, 2019

Aug. 06, 2019

Sep. 15, 2017

Aug. 07, 2017

Jun. 30, 2017

May 20, 2017

Dec. 15, 2016

Dec. 15, 2016

Dec. 12, 2016

Mar. 20, 2020

Dec. 29, 2019

Dec. 22, 2019

Dec. 20, 2019

Nov. 15, 2019

Mar. 21, 2019

Feb. 28, 2019

Mar. 30, 2018

Dec. 31, 2019

Dec. 31, 2018

Debt maturity date

Dec. 15, 2019

Debt discount

$ (461)

$ 690

Principal balance

245,487

233,505

Loss on debt extinguishment amount

$ (6,517)

Working capital

800

Shares issue

5,500,000

Warrant [Member]

Shares issue

5,500,000

Credit Agreement [Member] | Illinois Corn Processing, LLC [Member]

Unused facility fees

3.75%

Principal payments

$ 40,000

Description payment terms

Maintain working capital of not less than $8.0 million. In addition, ICP is required to maintain an annual debt service coverage ratio of not less than 1.50 to 1.00 beginning for the year ending December 31, 2018.

Pekin revolving loan [Member] | Credit Agreement [Member] | Illinois Corn Processing, LLC [Member]

Maximum borrowing capacity

$ 18,000

Unused facility fees

0.75%

Description of debt covenant

Pekin's lender also imposed cross-default terms such that, until Pekin's lender and ICP's lender receive $40.0 million

Description of principal amount

ICP's prior scheduled principal payment of $1.5 million, originally due on December 20, 2019, was deferred to the maturity date of September 20, 2021. Scheduled quarterly principal payments of $1.5 million will resume March 20, 2020.

Kinergy Marketing LLC [Member] | Line of Credit [Member]

Maximum borrowing capacity

$ 100,000

Line of credit maturity date

Aug. 2, 2022

Description of interest rate

Interest accrues under the line of credit at a rate equal to (i) the three-month London Interbank Offered Rate ("LIBOR"), plus (ii) a specified applicable margin ranging between 1.50% and 2.00%. The applicable margin was 1.50%, for a total rate of 3.90% at December 31, 2019.

Interest rate at end of period

3.90%

Interest margin rate

1.50%

Description of payment made to company

Payments that may be made by Kinergy to the Company as reimbursement for management and other services provided by the Company to Kinergy are limited under the terms of the credit facility to $1,500,000 per fiscal quarter.

Line of credit

$ 78,338

$ 57,057

Kinergy Marketing LLC [Member] | Line of Credit [Member] | Maximum [Member]

Unused facility fees

0.375%

Kinergy Marketing LLC [Member] | Line of Credit [Member] | Minimum [Member]

Unused facility fees

0.25%

Pacific Ethanol Pekin, LLC [Member]

Description of interest rate

The notes to extend the maturity date from December 15, 2019 to December 23, 2019 and amended the interest rate from the greater of 1% and the three-month LIBOR, plus 11% between December 15, 2018 through December 14, 2019, to 15% commencing on September 15, 2019. Under the amendment, Pacific Ethanol also agreed to pay the December 15, 2019 interest payment 50% in cash and 50% in-kind through the issuance of an additional note in the principal amount equal thereto.

Interest rate at end of period

15.00%

Loss on debt extinguishment amount

$ 6,517

Pacific Ethanol Pekin, LLC [Member] | Credit Agreement [Member] | 1st Farm Credit Services [Member]

Description of interest rate

Annual rate equal to the 30-day LIBOR plus 3.75%, payable monthly.

Annual rate equal to the 30-day LIBOR plus 5.00%.

Principal payments

$ 3,500

$ 3,500

Description of debt covenant

Under the terms of the Pekin Credit Agreement, Pekin is required to maintain not less than $20.0 million in working capital and an annual debt coverage ratio of not less than 1.25 to 1.0.

Maintain working capital of not less than $15.0 million from March 21, 2019 through July 15, 2019 and working capital of not less than $30.0 million from July 15, 2019 and continuing at all times thereafter. On July 15, 2019, Pekin and its lender agreed to a further amendment extending the aforementioned July 15, 2019 dates to November 15, 2019.

Pacific Ethanol Pekin, LLC [Member] | Amendment Credit Agreement [Member] | 1st Farm Credit Services [Member]

Description of interest rate

Increase the interest rate under the facilities by 25 basis points to an annual rate equal to the 30-day LIBOR plus 4.00%.

Description of debt covenant

Maintain working capital of not less than $17.5 million from August 31, 2017 through December 31, 2017 and working capital of not less than $20.0 million from January 1, 2018 and continuing at all times thereafter. In addition, the required Debt Service Coverage Ratio was reduced to 0.15 to 1.00 for the fiscal year ending December 31, 2017.

Description of debt covenant subsequent

Working capital covenant requirement to $13.0 million for the month ended February 28, 2018.

Pacific Ethanol Pekin, LLC [Member] | Pekin revolving loan [Member]

Principal payments

$ 3,500

Pacific Ethanol Pekin, LLC [Member] | Pekin revolving loan [Member] | Credit Agreement [Member] | PE Central [Member]

Debt face amount

$ 250

Principal payments

$ 10,500

Description of debt covenant

Pekin in an amount equal to $30.0 million, minus the then-existing amount of Pekin’s working capital, plus the amount of any accounts receivable owed by PE Central to Pekin, plus $12.0 million, or the Parent Contribution Amount.

Pacific Ethanol Pekin, LLC [Member] | Pekin revolving loan [Member] | Credit Agreement [Member] | 1st Farm Credit Services [Member]

Maximum borrowing capacity

$ 32,000

$ 32,000

Line of credit maturity date

Feb. 1, 2022

Unused facility fees

0.75%

Description of collateral

Secured by a first-priority security interest in all of Pekin’s assets under the terms of a Security Agreement

Principal payments

$ 3,500

Frequency of periodic payments

Quarterly

Description payment terms

Principal payment of $4.5 million at maturity on August 20, 2021

Principal payments in the amount of $3.5 million each due on February 20, 2019 and May 20, 2019.

Facilities and Plant Equipment [Member] | Line of Credit [Member]

Description of payment made to company

Payments that may be made by PAP to the Company as reimbursement for management and other services provided by the Company to PAP are limited under the terms of the credit facility to $500,000 per fiscal quarter.

Description of collateral

The credit facility also includes the accounts receivable of PAP as additional collateral.

Term Loan [Member] | Illinois Corn Processing, LLC [Member]

Description payment terms

The revolving term commitment in increments of $500,000 by giving CoBank ten days prior written notice.

Term Loan [Member] | Credit Agreement [Member] | Illinois Corn Processing, LLC [Member]

Debt face amount

$ 24,000

Description of interest rate

Accrues at a rate equal to 3.75% plus the one-month LIBOR

Principal payments

$ 1,500

$ 40,000

$ 40,000

Frequency of periodic payments

Quarterly

Description payment terms

Principal payments in sixteen equal consecutive quarterly installments of $1,500,000 each until September 20, 2021.

Term Loan [Member] | Pacific Ethanol Pekin, LLC [Member]

Debt face amount

$ 3,500

Debt maturity date

Mar. 31, 2018

Description of debt covenant

Pekin amended its term loan facility by reducing the amount of working capital it is required to maintain to not less than $13.0 million from March 31, 2018 through November 30, 2018 and not less than $16.0 million from December 1, 2018 and continuing at all times thereafter.

Term Loan [Member] | Pacific Ethanol Pekin, LLC [Member] | Credit Agreement [Member]

Principal payments

$ 40,000

Term Loan [Member] | Pacific Ethanol Pekin, LLC [Member] | Credit Agreement [Member] | Illinois Corn Processing, LLC [Member]

Description of payment made to company

Under the amendment, ICP, collectively with Pekin, agreed to pay the lenders an aggregate of $40.0 million on or before September 30, 2020 to reduce the outstanding balances of the term loans under the ICP credit agreement and the Pekin credit agreement. The $40.0 million is an aggregate amount payable to ICP's lender and Pekin's lender, and allocated between them. The $40.0 million is to be funded through asset sales, proceeds of any award, judgment or settlement of litigation, or, at the Company's election, from funds contributed to ICP by the Company. Following receipt by the lenders under the ICP credit agreement and the Pekin credit agreement, collectively, of $40.0 million in full, and once any loans corresponding to the particular midwestern asset sold are repaid, any additional proceeds from a sale of the Company's midwestern plant assets will generally be allocated 33/34/33% among ICP's lender and Pekin's lender, collectively, the selling security holders, and the Company, respectively. Proceeds from the sale of any of the Company's western assets will generally be allocated 33/34/33% among Pekin's lender and ICP's lender, collectively, the selling security holders, and the Company, respectively.

Term Loan [Member] | Pacific Ethanol Pekin, LLC [Member] | Credit Agreement [Member] | 1st Farm Credit Services [Member]

Debt face amount

$ 64,000

64,000

Debt maturity date

Aug. 20, 2021

Term Loan [Member] | Pacific Ethanol Pekin, LLC [Member] | Pekin revolving loan [Member] | Credit Agreement [Member]

Description of payment made to company

Under the amendment, Pekin, collectively with ICP, agreed to pay the lenders an aggregate of $40.0 million on or before September 30, 2020 to reduce the outstanding balances of the term loans under the Pekin credit agreement and the ICP credit agreement. The $40.0 million is an aggregate amount payable to ICP's lender and Pekin's lender, and allocated between them. The $40.0 million is to be funded through asset sales, proceeds of any award, judgment or settlement of litigation, or, at the Company's election, from funds contributed to Pekin by the Company. Following receipt by the lenders under the ICP credit agreement and the Pekin credit agreement, collectively, of $40.0 million in full, and once any loans corresponding to the particular midwestern asset sold are repaid, additional proceeds from the sale of any of the Company's midwestern plant assets will generally be allocated 33/34/33% among ICP's lender and Pekin's lender, collectively, the selling security holders, and the Company, respectively. Proceeds from the sale of any of the Company's western assets will generally be allocated 33/34/33% among Pekin's lender and ICP's lender, collectively, the selling security holders, and the Company, respectively.

Debt face amount

$ 3,500

Principal payments

$ 3,500

ICP [Member] | Notes Payable [Member] | Subsequent Event [Member]

Paid in kind interest

$ 300

Principal balance

1,500

Interest payable

2,500

Pekin [Member] | Notes Payable [Member] | Subsequent Event [Member]

Interest payable

$ 1,000

Five Accredited Investors [Member] | Notes Payable [Member] | Second Note Purchase Agreement [Member]

Debt face amount

$ 13,900

Principal payments

$ 68,900

Description of borrowing terms

Private offering for aggregate gross proceeds of 97% of the principal amount of the notes sold

Five Accredited Investors [Member] | Notes Payable [Member] | Note Purchase Agreement [Member]

Debt face amount

$ 55,000

Description of borrowing terms

Private offering for aggregate gross proceeds of 97% of the principal amount of the Notes sold.

Five Accredited Investors [Member] | Total Notes Payable [Member] | Note Purchase Agreement [Member]

Debt maturity date

Dec. 15, 2019

Description of interest rate

(i) the greater of 1% and the three-month LIBOR, plus 7.0% from the closing through December 14, 2017, (ii) the greater of 1% and LIBOR, plus 9% between December 15, 2017 and December 14, 2018, and (iii) the greater of 1% and LIBOR plus 11% between December 15, 2018 and the Maturity Date.

Debt default interest rate

2.00%

LEASES. (Details)

LEASES. (Details) $ in Thousands	Dec. 31, 2019USD ($)
Equipment [Member]
2020	$ 3,736
2021	2,202
2022	2,083
2023	1,475
2024	858
2025-43	726
Less Interest	(1,453)
Total	9,627
Land-Related Leases [Member]
2020	1,054
2021	1,077
2022	1,100
2023	1,013
2024	1,001
2025-43	33,160
Less Interest	(23,404)
Total	$ 15,001

LEASES. (Details Narrative)

LEASES. (Details Narrative) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Right of assets and operating lease liability	$ 43,753
Operating lease, weighted average discount rate	6.00%
Operating lease costs	$ 9,948
Selling, General and Administrative Expenses [Member]
Operating lease costs	$ 472
Equipment [Member]
Weighted average remaining lease term	2 years 5 months 16 days
Land-Related Leases [Member]
Weighted average remaining lease term	13 years 11 months 8 days
Minimum [Member]
Lease term	1 year
Maximum [Member]
Lease term	56 years

PENSION PLANS. (Details)

PENSION PLANS. (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Components of net periodic benefit costs are as follows:
Loss recognized in other comprehensive income (expense)	$ (89)	$ 225
Retirement Plan [Member]
Changes in plan assets:
Fair value of plan assets, beginning	13,257	13,958
Actual gains (losses)	2,692	(946)
Benefits paid	(698)	(667)
Company contributions	403	912
Participant contributions
Fair value of plan assets, ending	15,654	13,257
Less: projected accumulated benefit obligation	21,643	18,690
Funded status, (underfunded)/overfunded	(5,989)	(5,433)
Amounts recognized in the consolidated balance sheets:
Other liabilities	(5,989)	(5,433)
Accumulated other comprehensive loss (income)	1,654	1,069
Components of net periodic benefit costs are as follows:
Service cost	374	424
Interest cost	760	694
Expected return on plan assets	(760)	(816)
Net periodic benefit cost	374	302
Loss recognized in other comprehensive income (expense)	$ 585	$ 343
Assumptions used in computation benefit obligations:
Discount rate	3.25%	4.15%
Expected long-term return on plan assets	6.25%	6.25%
Rate of compensation increase

PENSION PLANS. (Details 1)

PENSION PLANS. (Details 1) - Retirement Plan [Member] $ in Thousands	Dec. 31, 2019USD ($)
2020	$ 800
2021	810
2022	840
2023	880
2024	920
2025-29	5,250
Total expected benefit payments	$ 9,500

PENSION PLANS. (Details 2)

PENSION PLANS. (Details 2) - Postretirement Plan [Member] - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Amounts at the end of the year:
Accumulated/projected benefit obligation	$ 5,274	$ 5,711
Fair value of plan assets
Funded status, (underfunded)/overfunded	(5,274)	(5,711)
Amounts recognized in the consolidated balance sheets:
Accrued liabilities	(280)	(320)
Other liabilities	(4,994)	(5,391)
Accumulated other comprehensive loss	$ 716	$ 1,390

PENSION PLANS. (Details 3)

PENSION PLANS. (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Components of net periodic benefit costs are as follows:
Gain recognized in other comprehensive income	$ (89)	$ 225
Postretirement Plan [Member]
Amounts recognized in the plan for the year:
Company contributions	171	137
Participant contributions	24	14
Benefits paid	(195)	(152)
Components of net periodic benefit costs are as follows:
Service cost	67	83
Interest cost	219	182
Amortization of prior service costs	122	131
Net periodic benefit cost	408	396
Gain recognized in other comprehensive income	$ (674)	$ (118)
Discount rate used in computation of benefit obligations	2.95%	3.35%

PENSION PLANS. (Details 4)

PENSION PLANS. (Details 4) - Postretirement Plan [Member] $ in Thousands	Dec. 31, 2019USD ($)
2020	$ 280
2021	320
2022	300
2023	330
2024	370
Thereafter	2,060
Total expected benefit payments	$ 3,660

PENSION PLANS. (Details Narrati

PENSION PLANS. (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Percentage of adjusting rate assumed health care		For purposes of determining the cost and obligation for pre-Medicare postretirement medical benefits, 6.75% annual rate of increase in the per capita cost of covered benefits (i.e., health care trend rate) was assumed for the plan in 2021, adjusting to a rate of 4.50% in 2030.
Pension plan description		The pension plan's current investment target allocations are 50% equities and 50% debt. The pension committee reviews the actual asset allocation in light of these targets periodically and rebalances investments as necessary.
Retirement Plan [Member]
Expected net periodic benefit cost for 2017		$ 800
Retirement Plan [Member] | Forecast [Member]
Expected contributions by the company	$ 700
Net periodic benefit cost	$ 200

INCOME TAXES. (Details)

INCOME TAXES. (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Current provision (benefit)	$ (22)	$ (589)
Deferred provision (benefit)	2	27
Total	$ (20)	$ (562)

INCOME TAXES. (Details 1)

INCOME TAXES. (Details 1)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Effective income tax rate reconciliation
Statutory rate	21.00%	21.00%
State income taxes, net of federal benefit	5.70%	5.40%
Change in valuation allowance	(22.40%)	(20.30%)
Noncontrolling interest	(3.30%)	(3.00%)
Non-deductible items	(0.10%)	(0.70%)
Other	(1.00%)	(1.60%)
Effective rate	(0.10%)	0.80%

INCOME TAXES. (Details 2)

INCOME TAXES. (Details 2) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Net operating loss carryforwards	$ 61,775	$ 48,082
R&D, Energy and AMT credits	3,864	4,247
Disallowed interest	8,242	3,769
Railcar contracts	379	650
Stock-based compensation	551	782
Allowance for doubtful accounts and other assets	578	643
Derivatives		1,214
Pension liability	2,979	2,941
Property and equipment	3,325
Other	3,458	2,134
Total deferred tax assets	85,151	64,462
Deferred tax liabilities:
Property and equipment		(23,013)
Intangibles	(749)	(749)
Derivatives	(153)
Other	(437)	(363)
Total deferred tax liabilities	(1,339)	(24,125)
Valuation allowance	(84,065)	(40,588)
Net deferred tax liabilities, included in other liabilities	$ (253)	$ (251)

INCOME TAXES. (Details 3)

INCOME TAXES. (Details 3) $ in Thousands	Dec. 31, 2019USD ($)
Federal [Member]
Non-expiring NOLs	$ 71,538
Net operating loss carryforward	228,837
Federal [Member] | 2020–2024 [Member]
Net operating loss carryforward
Federal [Member] | 2025–2029 [Member]
Net operating loss carryforward	13,781
Federal [Member] | 2030–2034 [Member]
Net operating loss carryforward	101,576
Federal [Member] | 2035 and after [Member]
Net operating loss carryforward	41,942
State [Member]
Non-expiring NOLs
Net operating loss carryforward	216,265
State [Member] | 2020–2024 [Member]
Net operating loss carryforward
State [Member] | 2025–2029 [Member]
Net operating loss carryforward	28,993
State [Member] | 2030–2034 [Member]
Net operating loss carryforward	35,238
State [Member] | 2035 and after [Member]
Net operating loss carryforward	$ 152,034

INCOME TAXES. (Details 4)

INCOME TAXES. (Details 4) $ in Thousands	Dec. 31, 2019USD ($)
Federal [Member]
2020	$ 146,738
2021	6,308
2022	6,308
2023	6,308
2024	6,308
State [Member]
2020	169,539
2021	5,318
2022	5,318
2023	5,318
2024	$ 5,135

INCOME TAXES. (Details 5)

INCOME TAXES. (Details 5)	12 Months Ended
	Dec. 31, 2018
Federal [Member]
Tax Years still open to audit	2016 – 2018
Arizona [Member]
Tax Years still open to audit	2015 – 2018
California [Member]
Tax Years still open to audit	2015 – 2018
Colorado [Member]
Tax Years still open to audit	2014 – 2018
Idaho [Member]
Tax Years still open to audit	2016 – 2018
Illinois [Member]
Tax Years still open to audit	2016 – 2018
Indiana [Member]
Tax Years still open to audit	2016 – 2018
Iowa [Member]
Tax Years still open to audit	2016 – 2018
Kansas [Member]
Tax Years still open to audit	2016 – 2018
Minnesota [Member]
Tax Years still open to audit	2016 – 2018
Missouri [Member]
Tax Years still open to audit	2016 – 2018
Nebraska [Member]
Tax Years still open to audit	2016 – 2018
Oklahoma [Member]
Tax Years still open to audit	2016 – 2018
Oregon [Member]
Tax Years still open to audit	2016 – 2018
Texas [Member]
Tax Years still open to audit	2015 – 2018

INCOME TAXES. (Details Narrativ

INCOME TAXES. (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Valuation allowance	$ 84,065	$ 40,588
Increase (decrease) in valuation allowance	43,477
Description of income tax		Provisions of Internal Revenue Code Section 163(j), as amended by the TCJA, became effective which now limits the deductibility of interest expense to 30% of adjusted taxable income.
Accrued tax uncertainties	235	$ 235
Provision (benefit) for income taxes	(20)	(562)
Valuation allowance absent of deferred tax liability	10,545	15,949
Decreased gross deferred assets	10,170
Increase deferred assets	22,641	20,836
Deferred tax assets	$ 8,242	$ 3,769
Revised federal income tax rate	21.00%
U.S. corporate income tax rate	21.00%
U.S. Corporate [Member]
Provision (benefit) for income taxes	$ 321
Federal [Member]
Remaining net operating loss carryforwards	228,837
State [Member]
Remaining net operating loss carryforwards	$ 216,265

PREFERRED STOCK. (Details Narra

PREFERRED STOCK. (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Preferred undesignated shares authorized	6,734,835
Preferred shares authorized	10,000,000	10,000,000
Preferred stock dividends accrued and paid	$ 946	$ 1,265
Preferred stock dividends and not yet pay in cash	$ 319
Pecentage of preferred stock	25.00%
Series A Preferred Stock [Member]
Preferred shares authorized	1,684,375	1,684,375
Preferred shares outstanding
Cumulative dividends payable in cash	5.00%	7.00%
Series B Preferred Stock [Member]
Preferred shares authorized	1,580,790	1,580,790
Preferred shares outstanding	926,942	926,942
Preferred stock convertible into common shares, common shares		634,641
Liquidation preference stock holder	$ 19.50

COMMON STOCK AND WARRANTS. (Det

COMMON STOCK AND WARRANTS. (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Number of Shares
Begining Balance		4
Warrants expired		(4)
Warrants issued	5,500
Ending Balance	5,500
Price per Share
Begining Balance		$ 735
Warrants expired		735
Warrants issued	1
Ending Balance	1
Weighted Average Exercise Price
Begining Balance		735
Warrants issued	1
Warrants expired		735
Ending Balance	$ 1

COMMON STOCK AND WARRANTS. (D_2

COMMON STOCK AND WARRANTS. (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 22, 2019	Dec. 31, 2019	Dec. 31, 2018
COMMON STOCK AND WARRANTS (Textual)
Issued warrants to purchase aggregate	5,500,000
Exercise price	$ 1	$ 1
Fair value adjustments for warrants		$ 977,000
Number of stock issued (in shares)		3,137,392	838,213
Number of stock issued, value		$ 3,670,413	$ 2,056,966
Fees paid		$ 65,838	$ 36,951
Maturity term			Dec. 15, 2019
Issued nonvoting common shares exercisable		3,539,236
Non-Voting Common Stock [Member]
COMMON STOCK AND WARRANTS (Textual)
Issued nonvoting common shares exercisable		896

STOCK-BASED COMPENSATION. (Deta

STOCK-BASED COMPENSATION. (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Number of Shares
Begining Balance	229	230
Options cancelled		(1)
Ending Balance	229	229
Options exercisable at end of year	229	229
Weighted Average Exercise Price
Begining Balance	$ 4.15	$ 4.18
Options cancelled		12.90
Ending Balance	4.15	4.15
Options exercisable at end of year	$ 4.15	$ 4.15

STOCK-BASED COMPENSATION. (De_2

STOCK-BASED COMPENSATION. (Details 1)	12 Months Ended
	Dec. 31, 2019$ / sharesshares
$3.74
Number Outstanding | shares	219
Weighted Average Remaining Contractual Life (yrs)	3 years 5 months 20 days
Weighted Average Exercise Price | $ / shares	$ 3.74
Number Exercisable | shares	219
Weighted Average Exercise Price | $ / shares	$ 3.74
$12.90
Number Outstanding | shares	10
Weighted Average Remaining Contractual Life (yrs)	1 year 7 months 2 days
Weighted Average Exercise Price | $ / shares	$ 12.90
Number Exercisable | shares	10
Weighted Average Exercise Price | $ / shares	$ 12.90

STOCK-BASED COMPENSATION. (De_3

STOCK-BASED COMPENSATION. (Details 2)	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Number of Shares
Begining Balance | shares	1,635
Issued | shares	1,434
Vested | shares	(669)
Canceled | shares	(199)
Ending Balance | shares	2,201
Weighted Average Grant Date Fair Value
Begining Balance | $ / shares	$ 3.49
Issued | $ / shares	1.01
Vested | $ / shares	3.96
Canceled | $ / shares	2.31
Ending Balance | $ / shares	$ 1.84

STOCK-BASED COMPENSATION. (De_4

STOCK-BASED COMPENSATION. (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Total stock-based compensation expense	$ 2,809	$ 3,438
Employees [Member]
Total stock-based compensation expense	2,422	2,905
Non-Employees [Member]
Total stock-based compensation expense	$ 387	$ 533

STOCK-BASED COMPENSATION. (De_5

STOCK-BASED COMPENSATION. (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Nov. 07, 2019	Jun. 16, 2018	Jun. 14, 2018
Compensation cost weighted average period	9 months 11 days
Total compensation cost related to unvested awards	$ 2,042
Stock Options [Member]
Fair value of stock vested	$ 599	$ 1,629
2006 Stock Incentive Plan [Member]
Shares authorized	1,715,000
2016 Stock Incentive Plan [Member]
Shares authorized			5,650,000	1,150,000	3,650,000

COMMITMENTS AND CONTINGENCIES.

COMMITMENTS AND CONTINGENCIES. (Details Narrative) $ in Thousands	Sep. 30, 2016USD ($)	Dec. 31, 2019USD ($)gal	Dec. 31, 2018USD ($)
Open fixed-price sales contracts valued		$ 30,116
Indexed price purchase contracts | gal		204,563,000
Legal counsel fees		$ 25
Property Tax Assessment [Member]
Maximum amount of finance to be amortized under property tax assessments	$ 10,000
Project amortized period	20 years
Capital expenditures		9,342	$ 9,342
Additional property tax payments		$ 900
Interest rate on outstanding balance of assessment		5.60%
Ethanol Purchase Contracts [Member]
Open fixed-price sales contracts valued		$ 3,893
Purchase Commitment [Member]
Open fixed-price sales contracts valued		$ 21,861
Indexed price purchase contracts | gal		6,317,000
Ethanol Sales Contracts [Member]
Open fixed-price sales contracts valued		$ 104,014

FAIR VALUE MEASUREMENTS. (Detai

FAIR VALUE MEASUREMENTS. (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)Segmentsshares	Dec. 31, 2018shares	Dec. 31, 2017shares
Original Issuance	Dec. 22, 2019
Term (years)	3 years
Warrants Outstanding | shares	5,500		4
Fair Value | $	$ 977,000
Measurement Input, Exercise Price [Member]
Warrants and Rights Outstanding, Measurement Input	1
Measurement Input, Price Volatility [Member]
Warrants and Rights Outstanding, Measurement Input	76
Measurement Input, Risk Free Interest Rate [Member]
Warrants and Rights Outstanding, Measurement Input	1.66

FAIR VALUE MEASUREMENTS. (Det_2

FAIR VALUE MEASUREMENTS. (Details 1) - USD ($) $ in Thousands		Dec. 31, 2019	Dec. 31, 2018
Assets:
Assets		$ 88,492	$ 15,022
Liabilities:
Liabilities		(2,837)
Long-lived assets held-for-sale [Member]
Assets:
Assets		70,400
Derivative Financial Instrument [Member]
Assets:
Assets		2,438	1,765
Liabilities:
Liabilities		(1,860)	(6,309)
Defined Benefit Plan Assets Large U.S. Equity [Member]
Assets:
Assets	[1],[2]	$ 4,654	$ 3,621
Benefit plan allocation percentage	[1],[2]	30.00%	27.00%
Defined Benefit Plan Assets Small/Mid U.S. Equity [Member]
Assets:
Assets	[1],[3]	$ 2,348	$ 1,844
Benefit plan allocation percentage	[1],[3]	15.00%	14.00%
Defined Benefit Plan Assets International Equity [Member]
Assets:
Assets	[1],[4]	$ 2,596	$ 2,106
Benefit plan allocation percentage	[1],[4]	17.00%	16.00%
Defined Benefit Plan Assets Fixed Income [Member]
Assets:
Assets	[1],[5]	$ 6,056	$ 5,686
Benefit plan allocation percentage	[1],[5]	38.00%	43.00%
Level 1 [Member]
Assets:
Assets		$ 2,438	$ 1,765
Liabilities:
Liabilities		(1,860)
Level 1 [Member] | Long-lived assets held-for-sale [Member]
Assets:
Assets
Level 1 [Member] | Derivative Financial Instrument [Member]
Assets:
Assets		2,438	1,765
Liabilities:
Liabilities		(1,860)	(6,309)
Level 1 [Member] | Defined Benefit Plan Assets Large U.S. Equity [Member]
Assets:
Assets	[1],[2]
Level 1 [Member] | Defined Benefit Plan Assets Small/Mid U.S. Equity [Member]
Assets:
Assets	[1],[3]
Level 1 [Member] | Defined Benefit Plan Assets International Equity [Member]
Assets:
Assets	[1],[4]
Level 1 [Member] | Defined Benefit Plan Assets Fixed Income [Member]
Assets:
Assets	[1],[5]
Level 2 [Member]
Assets:
Assets		15,654	13,257
Liabilities:
Liabilities
Level 2 [Member] | Long-lived assets held-for-sale [Member]
Assets:
Assets
Level 2 [Member] | Derivative Financial Instrument [Member]
Assets:
Assets
Liabilities:
Liabilities
Level 2 [Member] | Defined Benefit Plan Assets Large U.S. Equity [Member]
Assets:
Assets	[1],[2]	4,654	3,621
Level 2 [Member] | Defined Benefit Plan Assets Small/Mid U.S. Equity [Member]
Assets:
Assets	[1],[3]	2,348	1,844
Level 2 [Member] | Defined Benefit Plan Assets International Equity [Member]
Assets:
Assets	[1],[4]	2,596	2,106
Level 2 [Member] | Defined Benefit Plan Assets Fixed Income [Member]
Assets:
Assets	[1],[5]	6,056	5,686
Level 3 [Member]
Assets:
Assets
Liabilities:
Liabilities		(977)
Level 3 [Member] | Long-lived assets held-for-sale [Member]
Assets:
Assets		70,400
Level 3 [Member] | Derivative Financial Instrument [Member]
Assets:
Assets
Liabilities:
Liabilities
Level 3 [Member] | Defined Benefit Plan Assets Large U.S. Equity [Member]
Assets:
Assets	[1],[2]
Level 3 [Member] | Defined Benefit Plan Assets Small/Mid U.S. Equity [Member]
Assets:
Assets	[1],[3]
Level 3 [Member] | Defined Benefit Plan Assets International Equity [Member]
Assets:
Assets	[1],[4]
Level 3 [Member] | Defined Benefit Plan Assets Fixed Income [Member]
Assets:
Assets	[1],[5]
Warrant [Member]
Liabilities:
Liabilities		(977)
Warrant [Member] | Level 1 [Member]
Liabilities:
Liabilities
Warrant [Member] | Level 2 [Member]
Liabilities:
Liabilities
Warrant [Member] | Level 3 [Member]
Liabilities:
Liabilities		$ (977)
[1]	See Note 10 for accounting discussion.
[2]	This category includes investments in funds comprised of equity securities of large U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.
[3]	This category includes investments in funds comprised of equity securities of small- and medium-sized U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.
[4]	This category includes investments in funds comprised of equity securities of foreign companies including emerging markets. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.
[5]	This category includes investments in funds comprised of U.S. and foreign investment-grade fixed income securities, high-yield fixed income securities that are rated below investment-grade, U.S. treasury securities, mortgage-backed securities, and other asset-backed securities. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund.

FAIR VALUE MEASUREMENTS. (Det_3

FAIR VALUE MEASUREMENTS. (Details Narrative) $ in Thousands	Dec. 31, 2019USD ($)
Fair Value Measurements (Textual)
Fair value	$ 70,400

PARENT COMPANY FINANCIALS. (Det

PARENT COMPANY FINANCIALS. (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 18,997	$ 26,627	$ 49,489
Other current assets	4,430	11,866
Total current assets	232,064	168,804
Property and equipment, net	332,526	482,657
Other Assets:
Right of use lease assets	24,346
Other assets	4,381	5,842
Total Assets	612,495	659,981
Current Liabilities:
Current portion of long-term debt	63,000	146,671
Total current liabilities	160,398	231,859
Other liabilities	6,060	7,282
Total Liabilities	385,450	340,616
Stockholders' Equity:
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	612,495	659,981
Parent Company [Member]
Current Assets:
Cash and cash equivalents	4,985	6,759	$ 5,314
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

PARENT COMPANY FINANCIALS. (D_2

PARENT COMPANY FINANCIALS. (Details 1) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Selling, general and administrative expenses									$ 35,453	$ 36,373
Loss from operations	$ (37,919)	$ (23,503)	$ (2,737)	$ (10,524)	$ (30,211)	$ (5,202)	$ (10,171)	$ (5,953)	(74,683)	(51,537)
Loss on debt extinguishment									(6,517)
Interest expense									(20,206)	(17,132)
Loss before provision (benefit) for income taxes									(101,302)	(68,498)
Benefit for income taxes									20	562
Consolidated net loss									(101,282)	(67,936)
Parent Company [Member]
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)

PARENT COMPANY FINANCIALS. (D_3

PARENT COMPANY FINANCIALS. (Details 2) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Operating Activities:
Net loss	$ (41,087)	$ (27,326)	$ (7,646)	$ (12,890)	$ (32,010)	$ (7,514)	$ (12,908)	$ (7,841)	$ (88,949)	$ (60,273)
Adjustments to reconcile net loss to cash used in operating activities:
Loss on debt extinguishment									(6,517)
Amortization of debt discounts									689	720
Changes in operating assets and liabilities:
Accounts receivables									(6,698)	12,663
Accounts payable and accrued expenses									(2,587)	4,105
Net cash provided by (used in) operating activities									(23,363)	1,566
Investing Activities:
Additions to property and equipment									(3,281)	(15,154)
Net cash used in investing activities									(3,281)	(15,154)
Financing Activities:
Proceeds from issuances of common stock									3,670	2,057
Net cash provided by (used in) financing activities									19,014	(9,274)
Net increase (decrease) in cash and cash equivalents									(7,630)	(22,862)
Cash and cash equivalents at beginning of period				26,627				49,489	26,627	49,489
Cash and cash equivalents at end of period	18,997				26,627				18,997	26,627
Parent Company [Member]
Operating Activities:
Net loss									(88,949)	(60,273)
Adjustments to reconcile net loss to cash 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 issuances 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	6,759	5,314
Cash and cash equivalents at end of period	$ 4,985				$ 6,759				$ 4,985	$ 6,759

PARENT COMPANY FINANCIALS. (D_4

PARENT COMPANY FINANCIALS. (Details Narrative) $ in Thousands	Dec. 31, 2019USD ($)
Condensed Financial Information Disclosure [Abstract]
Net asset	$ 180,900

QUARTERLY FINANCIAL DATA (UNA_3

QUARTERLY FINANCIAL DATA (UNAUDITED). (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Data Unaudited
Net sales	$ 357,617	$ 365,160	$ 346,301	$ 355,803	$ 334,415	$ 370,407	$ 410,522	$ 400,027	$ 1,434,819	$ 1,530,535
Gross profit (loss)	3,196	(14,816)	3,971	(2,289)	(21,021)	3,768	(1,273)	3,362	(9,938)	(15,164)
Loss from operations	(37,919)	(23,503)	(2,737)	(10,524)	(30,211)	(5,202)	(10,171)	(5,953)	(74,683)	(51,537)
Net loss attributed to Pacific Ethanol, Inc.	(41,087)	(27,326)	(7,646)	(12,890)	(32,010)	(7,514)	(12,908)	(7,841)	(88,949)	(60,273)
Preferred stock dividends	(319)	(319)	(315)	(312)	(319)	(319)	(315)	(312)
Net loss available to common stockholders	$ (41,406)	$ (27,645)	$ (7,961)	$ (13,202)	$ (32,329)	$ (7,833)	$ (13,223)	$ (8,153)	$ (90,214)	$ (61,538)
Basic and diluted loss per common share	$ (0.85)	$ (0.58)	$ (0.17)	$ (0.29)	$ (0.74)	$ (0.18)	$ (0.31)	$ (0.19)	$ (1.9)	$ (1.42)