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
|