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Condensed Consolidated Statements of Operations (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUES:        
Biomass-based diesel sales $ 551,109 $ 455,928 $ 825,870 $ 799,664
Separated RIN sales 26,186 67,349 73,365 124,674
Biomass-based diesel government incentives 915 10,821 366,200 27,762
Total biomass-based diesel revenue 578,210 534,098 1,265,435 952,100
Other revenue 1,940 1,005 3,967 1,896
Total revenues 580,150 535,103 1,269,402 953,996
COSTS OF GOODS SOLD:        
Biomass-based diesel 510,380 468,407 916,189 822,258
Separated RINs 11,011 34,218 43,748 80,847
Other costs of goods sold 1,138 1,024 2,276 2,154
Total cost of goods sold 522,529 503,649 962,213 905,259
GROSS PROFIT 57,621 31,454 307,189 48,737
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 24,512 22,812 56,166 45,719
RESEARCH AND DEVELOPMENT EXPENSE 2,485 3,181 9,083 6,779
IMPAIRMENT OF PROPERTY, PLANT AND EQUIPMENT 0 1,341 0 1,341
INCOME (LOSS) FROM OPERATIONS 30,624 4,120 241,940 (5,102)
OTHER INCOME (EXPENSE), NET:        
Change in fair value of contingent consideration 7,129 24 8,669 (565)
Change in fair value of convertible debt conversion liability 0 (32,546) 0 (32,718)
Gain on debt extinguishment 2,337 0 2,105 0
Gain on involuntary conversion 454 0 4,454 0
Other income (loss), net 2,066 32 3,279 (288)
Interest expense (4,925) (4,479) (9,576) (9,015)
Total other income (expense), net 7,061 (36,969) 8,931 (42,586)
INCOME (LOSS) BEFORE INCOME TAXES 37,685 (32,849) 250,871 (47,688)
INCOME TAX EXPENSE (3,835) (1,960) (2,632) (3,035)
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY 33,850 (34,809) 248,239 (50,723)
LESS—EFFECT OF PARTICIPATING SHARE-BASED AWARDS 894 0 6,256 0
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY’S COMMON STOCKHOLDERS $ 32,956 $ (34,809) $ 241,983 $ (50,723)
NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS:        
BASIC (in dollars per share) $ 0.88 $ (0.90) $ 6.35 $ (1.31)
DILUTED (in dollars per share) $ 0.78 $ (0.90) $ 5.94 $ (1.31)
WEIGHTED AVERAGE SHARES USED TO COMPUTE NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS:        
BASIC (in shares) 37,413,387 38,679,849 38,112,531 38,639,672
DILUTED (in shares) 42,079,944 38,679,849 40,713,114 38,639,672