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Description of Business, Basis of Consolidation, Basis of Presentation and Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2017
Accounting Policies [Abstract]  
Summary of Business Sales Segmentation

Selective enterprise information is as follows:

 

 

 

2017

 

 

2016

 

 

2015

 

Net sales:

 

 

 

 

 

 

 

 

 

 

 

 

Insecticides

 

$

132,137

 

 

$

119,226

 

 

$

117,180

 

Herbicides/soil fumigants/fungicides

 

 

121,581

 

 

 

123,540

 

 

 

111,897

 

Other, including plant growth regulators

 

 

47,691

 

 

 

29,438

 

 

 

29,013

 

Total crop

 

 

301,409

 

 

 

272,204

 

 

 

258,090

 

Non-crop

 

 

53,638

 

 

 

39,909

 

 

 

31,292

 

 

 

$

355,047

 

 

$

312,113

 

 

$

289,382

 

Gross profit:

 

 

 

 

 

 

 

 

 

 

 

 

Crop

 

$

117,892

 

 

$

107,821

 

 

$

97,198

 

Non-crop

 

 

29,500

 

 

 

20,467

 

 

 

14,704

 

 

 

$

147,392

 

 

$

128,288

 

 

$

111,902

 

 

Summary of Operating Expense

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

 

 

 

2017

 

 

2016

 

 

2015

 

Selling

 

$

29,112

 

 

$

27,442

 

 

$

27,052

 

General and administrative

 

 

37,660

 

 

 

32,128

 

 

 

28,516

 

Research, product development and regulatory

 

 

26,076

 

 

 

21,298

 

 

 

19,116

 

Freight, delivery and warehousing

 

 

27,750

 

 

 

26,880

 

 

 

25,694

 

 

 

$

120,598

 

 

$

107,748

 

 

$

100,378

 

 

Components of Inventories

The components of inventories consist of the following:

 

 

 

2017

 

 

2016

 

Finished products

 

$

107,595

 

 

$

103,832

 

Raw materials

 

 

15,529

 

 

 

16,744

 

 

 

$

123,124

 

 

$

120,576

 

 

Components of Basic and Diluted Earnings Per Share

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

 

 

 

2017

 

 

2016

 

 

2015

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to American Vanguard

 

$

20,274

 

 

$

12,788

 

 

$

6,591

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding—basic

 

 

29,100

 

 

 

28,859

 

 

 

28,673

 

Dilutive effect of stock options and grants

 

 

603

 

 

 

535

 

 

 

564

 

 

 

 

29,703

 

 

 

29,394

 

 

 

29,237

 

 

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, 2017, 2016 and 2015. 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, 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

 

 

 

 

 

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