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Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2018
Accounting Policies [Abstract]  
Schedule of Disaggregated Revenue
The Company disaggregates revenue from contracts with customers into geographic region, product and timing of transfer of goods and services. The Company determined that disaggregating revenue into these categories achieves the disclosure objective of depicting how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.
Revenues for the three months ended June 30, 2018
(in thousands)
 
 
 
 
 
 
 
 
 
Region
North America
 
EMEA
 
Latin America
 
Asia Pacific
 
Total Revenue
Product
 
 
 
 
 
 
 
 
 
1-MCP based
$
691

 
$
4,040

 
$
4,432

 
$
4,688

 
$
13,851

Fungicides, waxes, coatings, biocides
—

 
3,345

 
—

 
—

 
3,345

Other*
284

 
191

 
90

 
659

 
1,224

 
$
975

 
$
7,576

 
$
4,522

 
$
5,347

 
$
18,420

 
 
 
 
 
 
 
 
 
 
Pattern of Revenue Recognition
 
 
 
 
 
 
 
 
 
Products transferred at a point in time
$
943

 
$
7,516

 
$
4,501

 
$
4,688

 
$
17,648

Services transferred over time
32

 
60

 
21

 
659

 
772

 
$
975

 
$
7,576

 
$
4,522

 
$
5,347

 
$
18,420


Revenues for the six months ended June 30, 2018
(in thousands)
 
 
 
 
 
 
 
 
 
Region
North America
 
EMEA
 
Latin America
 
Asia Pacific
 
Total Revenue
Product
 
 
 
 
 
 
 
 
 
1-MCP based
$
2,587

 
$
9,163

 
$
25,379

 
$
9,081

 
$
46,210

Fungicides, waxes, coatings, biocides
—

 
8,932

 
—

 
—

 
8,932

Other*
383

 
279

 
207

 
760

 
1,629

 
$
2,970

 
$
18,374

 
$
25,586

 
$
9,841

 
$
56,771

 
 
 
 
 
 
 
 
 
 
Pattern of Revenue Recognition
 
 
 
 
 
 
 
 
 
Products transferred at a point in time
$
2,925

 
$
18,311

 
$
25,560

 
$
9,081

 
$
55,877

Services transferred over time
45

 
63

 
26

 
760

 
894

 
$
2,970

 
$
18,374

 
$
25,586

 
$
9,841

 
$
56,771


*Other includes RipeLock, AdvanStore, LandSpring, Verigo, technical services and sales-type leases related to Tecnidex
Schedule of Changes in Contract Assets and Liabilities
The following table presents changes in the Company’s contract assets and liabilities during the six months ended June 30, 2018:
 
  
Balance at January 1, 2018
 
Additions
 
Deductions
 
Balance at June 30, 2018
(in thousands)
 
 
 
 
 
 
 
 
Contract assets:
  
 
 
 
 
 
 
 
       Unbilled revenue
 
$
739

 
$
44

 
$
(739
)
 
$
44

Contract liabilities:
  
 
 
 
 
 
 
 
       Deferred revenue
  
$
100

 
$
2,008

 
$
(903
)
 
$
1,205
Summary of Affect of ASC 606 on Financial Statements
The following table summarizes the amounts by which the consolidated financial statements are affected in the current reporting period by ASC 606 as compared with the guidance that was in effect before the change.
Balance at June 30, 2018  (in thousands)
As reported
ASC 606 Adjustments
Balances without adoption of ASC 606
Consolidated Balance Sheet
 
 
 
Liabilities
 
 
 
Accrued expenses and other current liabilities
$
50,046

$
(993
)
$
49,053

 
 
 
 
Equity
 
 
 
Accumulated deficit
$
(140,080
)
$
993

$
(139,087
)

Three months ended June 30, 2018
(in thousands)
As reported
ASC 606 Adjustments
Balances without adoption of ASC 606
Consolidated Statements of Operations
 
 
 
Revenue
 
 
 
Net sales
$
18,420

$
663

$
19,083

 
 
 
 
Net loss attributable to AgroFresh Solutions, Inc
$
(18,384
)
$
517

$
(17,867
)

Six months ended June 30, 2018
(in thousands)
As reported
ASC 606 Adjustments
Balances without adoption of ASC 606
Consolidated Statements of Operations
 
 
 
Revenue
 
 
 
Net sales
$
56,771

$
993

$
57,764

 
 
 
 
Net loss attributable to AgroFresh Solutions, Inc
(31,351
)
$
775

$
(30,576
)