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Equity Investments | 6 Months Ended
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Jun. 30, 2024
Investments, All Other Investments [Abstract] |
Equity Investment | 16. Equity Investments — In February 2016, AMVAC Netherlands BV made an investment in Biological Products for Agriculture (“Bi-PA”). Bi-PA develops biological plant protection products that can be used for the control of pests and disease of agricultural crops. As of June 30, 2024 and December 31, 2023, the Company’s ownership position in Bi-PA was 15%. Since this investment does not have readily determinable fair value, the Company has elected to measure the investment at cost less impairment, if any, and also records an increase or decrease for changes resulting from observable price changes in orderly transactions for the identical or a similar investment of Bi-PA. The Company periodically reviews the investment for possible impairment. There was no impairment or observable price changes on the investment during the three and six months ended June 30, 2024 and 2023. The investment is recorded within other assets on the condensed consolidated balance sheets and amounted to $2,869 as of June 30, 2024 and December 31, 2023. On April 1, 2020, AMVAC purchased 6.25 million shares, an ownership of approximately 8%, of common stock of Clean Seed Capital Group Ltd. The shares are publicly traded, have a readily determinable fair value, and are considered a Level 1 investment. The fair value of the stock amounted to $938 and $425 as of June 30, 2024 and December 31, 2023, respectively. The Company recorded a loss of $125 and $55 for the three months ended June 30, 2024 and 2023, respectively. The Company recorded a gain of $513 for the six months ended June 30, 2024 and loss of $77 for the six months ended June 30, 2023. The investment is recorded within other assets on the condensed consolidated balance sheets.

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