Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.7.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
REVENUES:      
Biomass-based diesel sales $ 1,417,595 $ 954,742 $ 922,602
Separated RIN sales 274,800 186,539 130,170
Biomass-based diesel government incentives 346,672 245,868 220,634
Total biomass-based diesel revenues 2,039,067 1,387,149 1,273,406
Other revenues 2,165 195 425
Total revenues 2,041,232 1,387,344 1,273,831
COSTS OF GOODS SOLD:      
Biomass-based diesel 1,616,991 1,089,437 950,642
Biomass-based diesel—related parties 0 4,542 42,622
Separated RINs 250,809 182,688 119,788
Other costs of goods sold 1,916 134 167
Total cost of goods sold 1,869,716 1,276,801 1,113,219
GROSS PROFIT 171,516 110,543 160,612
SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES (includes related party amounts of $0, $0, and $45, respectively) 88,285 73,397 62,681
RESEARCH AND DEVELOPMENT EXPENSE 18,163 16,851 12,424
IMPAIRMENT OF PROPERTY, PLANT, AND EQUIPMENT 17,893 0 0
IMPAIRMENT OF GOODWILL 0 175,028 0
INCOME (LOSS) FROM OPERATIONS 47,175 (154,733) 85,507
OTHER INCOME (EXPENSE), NET:      
Change in fair value of contingent consideration (7,904) 359 6,631
Change in fair value of convertible debt conversion liability 13,045 0 0
Gain on debt extinguishment 2,331 0 0
Gain on involuntary conversion 9,894 0 0
Other income 427 5,830 662
Interest expense (includes related party amounts of $0, $0, and $7, respectively) (15,987) (11,867) (6,690)
Total other income (expense), net 1,806 (5,678) 603
INCOME (LOSS) BEFORE INCOME TAXES 48,981 (160,411) 86,110
INCOME TAX BENEFIT (EXPENSE) (4,268) 8,701 (3,572)
NET INCOME (LOSS) 44,713 (151,710) 82,538
LESS—NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTEREST 386 (318) (73)
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY 44,327 (151,392) 82,611
PLUS—GAIN ON REDEMPTION OF PREFERRED STOCK 0 0 378
LESS—EFFECT OF CHANGES TO PREFERRED STOCK 0 0 (40)
LESS—EFFECT OF PARTICIPATING PREFERRED STOCK 0 0 (91)
LESS—EFFECT OF PARTICIPATING SHARE-BASED AWARDS (874) 0 (1,238)
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY’S COMMON STOCKHOLDERS $ 43,453 $ (151,392) $ 81,620
Net income (loss) per share attributable to common stockholders:      
Basic (in dollars per share) $ 1.06 $ (3.44) $ 2.00
Diluted (in dollars per share) $ 1.06 $ (3.44) $ 1.99
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders:      
Basic (in shares) 40,897,549 43,958,803 40,740,411
Diluted (in shares) 40,902,860 43,958,803 40,749,913