Description of Business, Basis of Consolidation, Basis of Presentation and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Summary of Business Sales Segmentation

Selective enterprise information is as follows:

	2018		2017		2016
Net sales:
Insecticides	$	150,595	$	134,377	$	119,226
Herbicides/soil fumigants/fungicides		183,350		124,529		123,540
Other, including plant growth regulators		58,360		42,503		29,438
Total crop		392,305		301,409		272,204
Non-crop		61,967		53,638		39,909
	$	454,272	$	355,047	$	312,113
Gross profit:
Crop	$	150,986	$	117,892	$	107,821
Non-crop		31,645		29,500		20,467
	$	182,631	$	147,392	$	128,288

Summary of Operating Expense

Operating expenses include cost centers for Selling, General and Administrative, Research, Product Development, and Regulatory, and Freight, Delivery and Warehousing.

	2018		2017		2016
Selling	$	39,585	$	29,112	$	27,442
General and administrative		42,981		37,660		32,128
Research, product development and regulatory		26,428		26,076		21,298
Freight, delivery and warehousing		34,616		27,750		26,880
	$	143,610	$	120,598	$	107,748

Components of Inventories, Net of Reserve Allowance

The components of inventories, net of reserve allowance, consist of the following:

	2018		2017
Finished products	$	147,297	$	107,595
Raw materials		12,598		15,529
	$	159,895	$	123,124

Summary of Selective Enterprise Information of Sales Disaggregated By Category and Geographic Region

Selective enterprise information of sales disaggregated by category and geographic region is as follows:

	2018
	As reported		Without adoption of ASC 606
Net sales:
Crop:
Insecticides	$	150,595	$	150,638
Herbicides/soil fumigants/fungicides		183,350		183,350
Other, including plant growth regulators and distribution		58,360		58,360
		392,305		392,348
Non-crop, including distribution		61,967		60,467
Total net sales:	$	454,272	$	452,815
Net sales:
US	$	300,314	$	298,857
International		153,958		153,958
Total net sales:	$	454,272	$	452,815
Timing of revenue recognition:
Goods transferred at a point in time	$	453,449	$	452,815
Goods and services transferred over time		823		—
Total net sales:	$	454,272	$	452,815

Summary of Contract Balances

The contract assets in the table below are related to royalties earned on certain licenses granted for the use of the Company’s intellectual property, which are recognized at a point in time and remain outstanding as of December 31, 2018.

	December 31, 2018		December 31, 2017
Total receivables, net	$	134,029	$	109,605
Contract assets		3,750		—
Deferred revenue		20,043		14,574

Summary of Impact of Adoption of ASC 606 to Condensed Consolidated Balance Sheets

The following table presents the effect of the adoption of ASC 606 on our consolidated balance sheet as of December 31, 2017:

	As of December 31, 2017
	As previously reported		Adjustment due to adoption of ASC 606		As adjusted
Total assets	$	535,592	$	3,000	$	538,592
Deferred income tax liabilities, net		16,284		786		17,070
Retained earnings		238,953		2,214		241,167

In accordance with ASC 606, the disclosure of the impact of adoption to our consolidated balance sheets was as follows:

	As of December 31, 2018
	As reported		Balances without adoption of ASC 606		Impact
Assets:
Contract assets	$	3,750	$	—	$	3,750
Current liabilities:
Deferred revenue		20,043		20,000		43
Income taxes payable		1,168		—		1,168
Stockholders' equity:
Retained earnings		262,840		259,551		3,289

Components of Basic and Diluted Earnings Per Share

The components of basic and diluted earnings per share were as follows:

	2018		2017		2016
Numerator:
Net income attributable to American Vanguard	$	24,195	$	20,274	$	12,788
Denominator:
Weighted average shares outstanding—basic		29,326		29,100		28,859
Dilutive effect of stock options and grants		722		603		535
		30,048		29,703		29,394

Stock Based Compensation, Unamortized Stock-Based Compensation and Remaining Weighted Average Period

The below tables illustrate the Company’s stock based compensation, unamortized stock-based compensation, and remaining weighted average period for the years ended December 31, 2018, 2017 and 2016. This projected expense will change if any stock options and restricted stock are granted or cancelled prior to the respective reporting periods, or if there are any changes required to be made for estimated forfeitures.

	Stock-Based Compensation		Unamortized Stock-Based Compensation		Remaining Weighted Average Period (years)
December 31, 2018
Restricted Stock	$	3,657	$	5,166		1.3
Performance Based Restricted Stock		2,148		2,565		1.9
Total	$	5,805	$	7,731
December 31, 2017
Incentive Stock Options	$	345	$	—		—
Performance Based Options		416		—		—
Restricted Stock		2,705		3,788		1.0
Performance Based Restricted Stock		1,248		1,642		1.8
Total	$	4,714	$	5,430
December 31, 2016
Incentive Stock Options	$	354	$	397		1.0
Performance Based Options		188		178		1.0
Restricted Stock		1,630		2,153		1.6
Performance Based Restricted Stock		995		796		1.7
Total	$	3,167	$	3,524