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

12 Months Ended

Dec. 31, 2015

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:

		2015				2014				2013
Net sales:
Insecticides		$	117,180			$	135,705			$	193,623
Herbicides/soil fumigants/fungicides			111,897				101,785				121,042
Other, including plant growth regulators			29,013				30,220				31,849
Total crop			258,090				267,710				346,514
Non-crop			31,292				30,924				34,507
		$	289,382			$	298,634			$	381,021
Gross profit:
Crop		$	97,198			$	101,633			$	155,275
Non-crop			14,704				12,863				16,072
		$	111,902			$	114,496			$	171,347

Summary of Operating Expense

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

		2015				2014				2013
Selling		$	27,360			$	31,593			$	32,929
General and administrative			28,516				27,057				33,536
Research, product development and regulatory			18,808				21,206				21,644
Freight, delivery and warehousing			25,694				27,930				27,503
		$	100,378			$	107,786			$	115,612

Components of Inventories

The components of inventories consist of the following:

		2015				2014
Finished products		$	120,456			$	142,853
Raw materials			16,021				22,778
		$	136,477			$	165,631

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, 2015 and 2014.

The Effect of Derivative Instruments on the Statement of Financial Performance For the Year Ended December 31
Derivatives in ASC 815 Cash Flow Hedging Relationships		Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)								Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)				Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)								Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion)				Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion)
		2015				2014								2015				2014								2015				2014
Interest rate contracts		$	0			$	(30	)			Interest expense			$	(0	)		$	(594	)			Interest expense			$	(0	)		$	(3	)
Total		$	0			$	(30	)						$	(0	)		$	(594	)						$	(0	)		$	(3	)

Components of Basic and Diluted Earnings per Share

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

		2015				2014				2013
Numerator:
Net income attributable to American Vanguard		$	6,591			$	4,841			$	34,449
Denominator:
Weighted average shares outstanding—basic			28,673				28,436				28,301
Dilutive effect of stock options and grants			564				476				598
			29,237				28,912				28,899

Unamortized Stock Based Compensation Expenses

The below tables illustrate the Company’s stock based compensation, unamortized stock-based compensation, and remaining weighted average period for the year ended December 31, 2015, 2014 and 2013. 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, 2015
Incentive Stock Options		$	431			$	887				2.0
Performance Based Options			149				331				2.0
Restricted Stock			2,972				2,153				1.3
Performance Based Restricted Stock			329				583				1.5
Total		$	3,881			$	3,954
December 31, 2014
Incentive Stock Options		$	22			$	1,457				3.0
Performance Based Options			—				551				3.0
Restricted Stock			3,963				4,829				1.8
Performance Based Restricted Stock			168				1,249				2.1
Total		$	4,153			$	8,086
December 31, 2013
Incentive Stock Options		$	764			$	21				0.5
Restricted Stock			2,965				5,435				1.9
Performance Based Restricted Stock			90				564				2.4
Total		$	3,819			$	6,020

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			2.0	%
Dividend yield			0.9	%
Volatility factor			48.9	%
Weighted average life (years)			6.5 years

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