Variable Interest Entities

3 Months Ended

Mar. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities

VARIABLE INTEREST ENTITIES

In connection with the Arysta Acquisition, the Company acquired ownership in two distributors deemed to be variable interest entities.

Saphyto S.A.

The Company holds a 45.0% interest in its product distributor, Saphyto S.A. The Company's has determined that it is the primarily beneficiary of the activities of Saphyto S.A., as approximately 94.0% of the distributor's sales are based on the Company's products and it has the power to direct activities impacting Saphyto S.A.'s economic performance. As a result, the activities of Saphyto S.A. are consolidated in the Company's condensed consolidated financial statements.

Societe das Produits Industriels et Agricoles, or SPIA

The Company holds a 31.95% interest in its product distributor, SPIA. The Company has determined that although it receives a disproportionate amount of economic benefit as compared to its ownership interest, it is not the primarily beneficiary of the activities of SPIA, as the majority shareholder of SPIA holds a 50.9% interest and exercises control through voting rights. As a result, the Company has applied equity method of accounting to its interest in SPIA. SPIA's total assets are approximately $7.2 million.