XML 45 R28.htm IDEA: XBRL DOCUMENT v3.20.4
Segment and Geographical Information
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment and Geographical Information Segment and Geographical Information
 
Segments
 
The authoritative guidance for disclosures about segments of an enterprise establishes standards for reporting information about segments. It defines operating segments as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-maker in deciding how to allocate resources and in assessing performance. We currently operate and manage our business as two operating segments. Our chief operating decision-makers allocate resources and assess performance of the business for each segment. Accordingly, we consider ourselves to have two operating and reportable segments (i) AgroFresh core and (ii) Tecnidex. AgroFresh core business is providing produce preservation and waste reduction solutions for growers and packers. Its products include SmartFreshTM, HarvistaTM and FreshCloud. Tecnidex is a provider of fungicides, disinfectants and coatings primarily focused on the citrus market.

Our chief operating decision-makers do not evaluate operating segments using asset or liability information. The following table presents a breakdown of our revenues and gross profit based on reportable segments for the years ended December 31, 2020 and 2019.
Year Ended December 31,
(in thousands)20202019
AgroFresh Core
Revenues$138,162 $150,268 
Gross Profit 108,576 117,058 
Tecnidex
Revenues19,481 19,797 
Gross Profit6,850 7,958 
Total Revenues157,643 170,065 
Total Gross Profit$115,426 $125,016 

Geographic Regions
 
Net sales by geographic region, based on the location of the customer, were as follows:
Year Ended Year Ended December 31,
(in thousands)202020192018
Net sales: 
North America (1)
$33,759 $42,247 $43,270 
Latin America (2)
28,731 31,818 27,178 
EMEA (3)
79,413 81,286 93,256 
Asia Pacific (4)
15,740 14,714 15,082 
Total Net sales$157,643 $170,065 $178,786 

(1)     North America includes the United States and Canada.
(2)    Latin America includes Argentina, Brazil, Chile, Columbia, Costa Rica, Dominican Republic, Ecuador, Guatemala, Mexico, Peru and Uruguay.
(3)    EMEA includes Europe, the Middle East and Africa.
(4)    Asia Pacific includes Australia, China, India, Japan, New Zealand, South Korea and Philippines.

Sales of SmartFresh™ accounted for approximately 75%, 76% and 80% of our total worldwide net sales for the years December 31, 2020, 2019 and 2018, respectively.