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

12 Months Ended

Dec. 31, 2014

Summary of Business Sales and Gross Profit Information

Based on similar economic and operational characteristics, the Company’s business is aggregated into one reportable segment. Selective enterprise information is as follows:

		2014				2013				2012
Net sales:
Insecticides		$	135,705			$	193,623			$	194,060
Herbicides/soil fumigants/fungicides			101,785				121,042				89,899
Other, including plant growth regulators			30,220				31,849				45,581
Total crop			267,710				346,514				329,540
Non-crop			30,924				34,507				36,650
		$	298,634			$	381,021			$	366,190
Gross profit:
Crop		$	101,633			$	155,275			$	142,019
Non-crop			12,863				16,072				19,106
		$	114,496			$	171,347			$	161,125

Summary of Operating Expense

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

		2014				2013				2012
Selling		$	31,593			$	32,929			$	25,869
General and administrative			27,057				33,536				29,715
Research, product development and regulatory			21,206				21,644				20,750
Freight, delivery and warehousing			27,930				27,503				25,468
		$	107,786			$	115,612			$	101,802

Components of Inventories

The components of inventories consist of the following:

		2014				2013
Finished products		$	142,853			$	126,872
Raw materials			22,778				12,958
		$	165,631			$	139,830

Impact of Derivatives on Statement of Operations

The following tables illustrate the impact of derivatives on the Company’s statement of operations for the year ended December 31, 2014 and 2013.

The Effect of Derivative Instruments on the Statement of Financial Performance For the Period Ended December 31
Derivatives in ASC 815 Cash Flow		Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)								Location of Gain or (Loss) Reclassified from Accumulated OCI into Income		Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)								Location of Gain or (Loss) Recognized in Income on Derivative		Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion)
Hedging Relationships		2014				2013				(Effective Portion)		2014				2013				(Ineffective Portion)		2014				2013
Interest rate contracts		$	(30	)		$	(75	)		Interest expense		$	(594	)		$	(712	)		Interest expense		$	(3	)		$	(1	)
Total		$	(30	)		$	(75	)				$	(594	)		$	(712	)				$	(3	)		$	(1	)

Foreign Currency Derivatives to Hedge Foreign Currency Balances Measured at Fair Value

		Fair Value Measurements Using Input Type
		Level 1				Level 2				Level 3
As of December 31, 2013:
Liability:
Interest rate derivative financial instruments (1)		$	—			$	564			$	—

(1) Includes accrued interest expense

Components of Basic and Diluted Earnings per Share

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

		2014				2013				2012
Numerator:
Net income attributable to American Vanguard		$	4,841			$	34,449			$	36,867
Denominator:
Weighted average shares outstanding—basic			28,436				28,301				27,914
Dilutive effect of stock options and grants			476				598				842
			28,912				28,899				28,756

Unamortized Stock Based Compensation Expenses

The below table illustrates the Company’s unamortized stock-based compensation expenses as of December 31, 2014 and December 31, 2013 that will be recognized over the respective weighted average period. 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.

		2014								2013
Description		Unamortized Stock-Based Compensation Expenses				Remaining Weighted Average Period (yrs)				Unamortized Stock-Based Compensation Expenses				Remaining Weighted Average Period (yrs)
Options		$	1,457				3.0			$	21				0.5
Performance Based Options			551				3.0				—				—
Restricted Stock			4,829				1.8				5,550				1.9
Performance Based Restricted Stock			1,249				2.1				564				2.4

Summary of Value Option Grants Using Weighted Average Assumptions

The Company uses the Black-Scholes option-pricing model (“Black-Scholes model”) to value option grants using the following weighted average assumptions:

		2014
Risk free interest rate			2.00	%
Dividend yield			0.9	%
Volatility factor			48.9	%
Weighted average life (years)			6.5 years

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