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Description of Business and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2023
Accounting Policies [Abstract] |
Schedule of the classification after the adoption of the change in accounting | The following table compares the Company’s historical classification with the classification after the adoption of the change in accounting for the three years ended December 31, 2023, 2022 and 2021.
|  | Classification after adoption of accounting change |  |  | Classification prior to adoption of accounting change |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Net sales |  | $ | 609,615 |  |  | $ | 557,676 |  |  | $ | 609,615 |  |  | $ | 557,676 |
Cost of sales |  |  | (417,227 | ) |  |  | (386,953 | ) |  |  | (368,263 | ) |  |  | (343,629 | )
Gross profit |  |  | 192,388 |  |  |  | 170,723 |  |  |  | 241,352 |  |  |  | 214,047 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |
Selling, general and administrative |  |  | (119,921 | ) |  |  | (111,093 | ) |  |  | (168,885 | ) |  |  | (154,417 | )
Research, product and regulatory |  |  | (31,816 | ) |  |  | (28,855 | ) |  |  | (31,816 | ) |  |  | (28,855 | )
Bargain purchase gain on business acquisition |  |  | — |  |  |  | 171 |  |  |  | — |  |  |  | 171 |
Operating income |  | $ | 40,651 |  |  | $ | 30,946 |  |  | $ | 40,651 |  |  | $ | 30,946 |
Components of Inventories, Net of Reserve Allowance | The components of inventories, consist of the following:
|  | 2023 |  |  | 2022 |
Finished products |  | $ | 198,935 |  |  | $ | 155,128 |
Raw materials |  |  | 20,616 |  |  |  | 29,062 |
Total inventories |  | $ | 219,551 |  |  | $ | 184,190 |
Schedule of Additional Information of Operating Leases | Additional information related to operating leases are as follows:
|  | Year Ended December 31, 2023 |  |  | Year Ended December 31, 2022 |  |  | Year Ended December 31, 2021 |
Cash paid for amounts included in the measurement of lease liabilities |  | $ | 7,333 |  |  | $ | 6,450 |  |  | $ | 5,750 |
ROU assets obtained in exchange for new lease liabilities |  | $ | 4,466 |  |  | $ | 4,468 |  |  | $ | 18,521 |
Schedule of Weighted-Average Remaining Lease Term and Discount Rate Related to Operating Leases | The weighted-average remaining lease term and discount rate related to the operating leases as of December 31, 2023 and 2022 were as follows:
|  | December 31, 2023 |  |  | December 31, 2022 |
Weighted-average remaining lease term (in years) |  |  | 5.04 |  |  |  | 5.93 |
Weighted-average discount rate |  |  | 4.60 | % |  |  | 4.00 | %
Schedule of Future Minimum Lease Payments Under Non-Cancellable Operating Leases | Future minimum lease payments under non-cancellable operating leases as of December 31, 2023 were as follows:
2024 |  | $ | 6,879 |
2025 |  |  | 5,755 |
2026 |  |  | 4,275 |
2027 |  |  | 2,814 |
2028 |  |  | 1,883 |
Thereafter |  |  | 4,338 |
Total lease payments |  | $ | 25,944 |
Less: imputed interest |  |  | (2,750 | )
Total |  | $ | 23,194 |
Amounts recognized in the consolidated balance sheets: |  |  |
Operating lease liabilities, current |  | $ | 6,081 |
Operating lease liabilities, long term |  | $ | 17,113 |
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:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Net sales: |  |  |  |  |  |  |  |  |
U.S. crop |  | $ | 269,229 |  |  | $ | 288,624 |  |  | $ | 263,632 |
U.S. non-crop |  |  | 75,287 |  |  |  | 76,709 |  |  |  | 78,605 |
Total U.S. |  |  | 344,516 |  |  |  | 365,333 |  |  |  | 342,237 |
International |  |  | 234,855 |  |  |  | 244,282 |  |  |  | 215,439 |
Total net sales |  | $ | 579,371 |  |  | $ | 609,615 |  |  | $ | 557,676 |
Components of Basic and Diluted Earnings Per Share | The components of basic and diluted earnings per share were as follows:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Numerator: |  |  |  |  |  |  |  |  |
Net income |  | $ | 7,519 |  |  | $ | 27,404 |  |  | $ | 18,587 |
Denominator: |  |  |  |  |  |  |  |  |
Weighted average shares outstanding—basic |  |  | 28,128 |  |  |  | 29,234 |  |  |  | 29,811 |
Dilutive effect of stock options and grants |  |  | 405 |  |  |  | 638 |  |  |  | 599 |
Weighted average shares outstanding—diluted |  |  | 28,533 |  |  |  | 29,872 |  |  |  | 30,410 |

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