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Description of Business, Basis of Consolidation, Basis of Presentation and Significant Accounting Policies (Tables) | 12 Months Ended
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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 |  |  |  |  |

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