10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2017

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM TO

Commission file number 001-13795

AMERICAN VANGUARD CORPORATION

Delaware	95-2588080
(State or other jurisdiction of Incorporation or organization)	(I.R.S. Employer Identification Number)
4695 MacArthur Court, Newport Beach, California	92660
(Address of principal executive offices)	(Zip Code)

(949) 260-1200

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  ☒    No  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer	☐		Accelerated Filer	☒
Non-Accelerated Filer	☐	(Do not check if a small reporting company)	Smaller reporting company	☐
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ☐    No  ☒

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

Common Stock, $.10 Par Value—29,794,607 shares as of October 26, 2017.

AMERICAN VANGUARD CORPORATION

INDEX

		Page Number
PART I—FINANCIAL INFORMATION
Item 1.	Financial Statements (unaudited)
	Condensed Consolidated Statements of Operations for the three months and nine months ended September 30, 2017 and 2016	3
	Condensed Consolidated Statements of Comprehensive Income for the three months and nine months ended September 30, 2017 and 2016	4
	Condensed Consolidated Balance Sheets as of September 30, 2017 and December 31, 2016	5
	Condensed Consolidated Statement of Stockholders’ Equity for the three months and nine months ended September 30, 2017	6
	Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2017 and 2016	7
	Notes to Condensed Consolidated Financial Statements	8
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	19
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	29
Item 4.	Controls and Procedures	29
PART II—OTHER INFORMATION		30
Item 1.	Legal Proceedings	30
Item 6.	Exhibits	32
SIGNATURES		33

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PART I. FINANCIAL INFORMATION

Item 1. FINANCIAL STATEMENTS

AMERICAN VANGUARD CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(Unaudited)

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2017		2016		2017			2016
Net sales	$	89,975	$	82,447	$	238,553		$	224,645
Cost of sales		51,943		49,461		136,102			132,761
Gross profit		38,032		32,986		102,451			91,884
Operating expenses		31,570		28,286		84,175			77,429
Operating income		6,462		4,700		18,276			14,455
Interest expense, net		375		301		1,073			1,304
Income before provision for income taxes and loss on equity method investments		6,087		4,399		17,203			13,151
Income tax expense		1,954		1,378		5,015			3,672
Income before loss on equity method investments		4,133		3,021		12,188			9,479
Loss from equity method investments		115		180		226			309
Net income		4,018		2,841		11,962			9,170
Income (loss) attributable to non-controlling interest		71		36		(117	)		(253	)
Net income attributable to American Vanguard	$	4,089	$	2,877	$	11,845		$	8,917
Earnings per common share—basic	$	.14	$	.10	$	.41		$	.31
Earnings per common share—assuming dilution	$	.14	$	.10	$	.40		$	.30
Weighted average shares outstanding—basic		29,193		28,957		29,064			28,886
Weighted average shares outstanding—assuming dilution		29,783		29,496		29,648			29,385

See notes to the condensed consolidated financial statements.

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AMERICAN VANGUARD CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands)

(Unaudited)

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2017			2016			2017			2016
Net income	$	4,018		$	2,841		$	11,962		$	9,170
Comprehensive income:
Foreign currency translation adjustment		(67	)		(436	)		970			(888	)
Comprehensive income		3,951			2,405			12,932			8,282
Income (loss) attributable to non-controlling interest		71			36			(117	)		(253	)
Comprehensive income attributable to American Vanguard	$	4,022		$	2,441		$	12,815		$	8,029

See notes to the condensed consolidated financial statements.

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AMERICAN VANGUARD CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share data)

(Unaudited)

ASSETS

	September 30, 2017			December 31, 2016
Current assets:
Cash and cash equivalents	$	9,045		$	7,869
Receivables:
Trade, net of allowance for doubtful accounts of $45 and $42, respectively		100,043			83,777
Other		3,630			3,429
Total receivables, net		103,673			87,206
Inventories		123,315			120,576
Prepaid expenses		13,543			11,424
Total current assets		249,576			227,075
Property, plant and equipment, net		49,495			50,295
Intangible assets, net of applicable amortization		141,127			121,433
Other assets		28,917			31,153
	$	469,115		$	429,956
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current installments of other liabilities	$	99		$	26
Accounts payable		29,355			24,358
Deferred revenue		—			3,848
Accrued program costs		65,650			42,930
Accrued expenses and other payables		8,704			12,072
Income taxes payable		1,684			13,840
Total current liabilities		105,492			97,074
Long-term debt, net of deferred loan fees		57,379			40,951
Other liabilities, excluding current installments		2,789			2,868
Deferred income tax liabilities		6,712			6,706
Total liabilities		172,372			147,599
Commitments and contingent liabilities
Stockholders' equity:
Preferred stock, $.10 par value per share; authorized 400,000 shares; none issued		—			—
Common stock, $.10 par value per share; authorized 40,000,000 shares; issued   32,236,629 shares at September 30, 2017 and 31,819,695 shares at December 31,   2016		3,224			3,183
Additional paid-in capital		74,423			71,699
Accumulated other comprehensive loss		(3,881	)		(4,851	)
Retained earnings		230,962			220,428
		304,728			290,459
Less treasury stock at cost, 2,450,634 shares at September 30, 2017 and    December 31, 2016		(8,269	)		(8,269	)
American Vanguard Corporation stockholders’ equity		296,459			282,190
Non-controlling interest		284			167
Total stockholders’ equity		296,743			282,357
	$	469,115		$	429,956

See notes to the condensed consolidated financial statements.

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AMERICAN VANGUARD CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY

For The Three and Nine Months Ended September 30, 2017

(In thousands, except share data)

(Unaudited)

	Common Stock					Additional			Accumulated Other						Treasury Stock								Non-
	Shares			Amount		Paid-in Capital			Comprehensive Loss			Retained Earnings			Shares		Amount			AVD Total			Controlling Interest			Total
Balance, December 31, 2016		31,819,695		$	3,183	$	71,699		$	(4,851	)	$	220,428			2,450,634	$	(8,269	)	$	282,190		$	167		$	282,357
Stocks issued under ESPP		16,349			2		248			—			—			—		—			250			—			250
Cash dividends on common stock ($0.015    per share)		—			—		—			—			(435	)		—		—			(435	)		—			(435	)
Foreign currency translation adjustment, net		—			—		—			757			—			—		—			757			—			757
Stock based compensation		—			—		1,080			—			—			—		—			1,080			—			1,080
Stock options exercised; grants, termination    and vesting of restricted stock units (net    of shares in lieu of taxes)		377,916			37		16			—			—			—		—			53			—			53
Net income		—			—		—			—			3,452			—		—			3,452			(39	)		3,413
Balance, March 31, 2017		32,213,960			3,222		73,043			(4,094	)		223,445			2,450,634		(8,269	)		287,347			128			287,475
Cash dividends on common stock ($0.015    per share)		—			—		—			—			(437	)		—		—			(437	)		—			(437	)
Foreign currency translation adjustment, net		—			—		—			280			—			—		—			280			—			280
Stock based compensation		—			—		1,242			—						—		—			1,242			—			1,242
Stock options exercised; grants, termination    and vesting of restricted stock units (net    of shares in lieu of taxes)		(1,836	)		—		(1,517	)		—			—			—		—			(1,517	)		—			(1,517	)
Net income		—			—		—			—			4,304			—		—			4,304			227			4,531
Balance, June 30, 2017		32,212,124			3,222		72,768			(3,814	)		227,312			2,450,634		(8,269	)		291,219			355			291,574
Stocks issued under ESPP		17,667			2		303			—			—			—		—			305			—			305
Cash dividends on common stock ($0.015    per share)		—			—		—			—			(439	)		—		—			(439	)		—			(439	)
Foreign currency translation adjustment, net		—			—		—			(67	)		—			—		—			(67	)		—			(67	)
Stock based compensation		—			—		1,263			—			—			—		—			1,263			—			1,263
Stock options exercised; grants, termination    and vesting of restricted stock units (net    of shares in lieu of taxes)		6,838			—		89			—			—			—		—			89			—			89
Net income		—			—		—			—			4,089			—		—			4,089			(71	)		4,018
Balance, September 30, 2017		32,236,629		$	3,224	$	74,423		$	(3,881	)	$	230,962			2,450,634	$	(8,269	)	$	296,459		$	284		$	296,743

See notes to the condensed consolidated financial statements.

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AMERICAN VANGUARD CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

	For the Nine Months Ended September 30,
	2017			2016
Cash flows from operating activities:
Net income	$	11,962		$	9,170
Adjustments to reconcile net income to net cash provided by operating    activities:
Depreciation and amortization of fixed and intangible assets		12,358			12,367
Amortization of other long term assets		3,995			3,935
Amortization of discounted liabilities		20			28
Stock-based compensation		3,585			1,656
Excess tax benefit from exercise of stock options		—			(82	)
Increase in deferred income taxes		6			—
Loss from equity method investment		226			309
Changes in assets and liabilities associated with operations:
Increase in net receivables		(15,746	)		(19,202	)
Increase in inventories		(2,213	)		(5,201	)
Increase in prepaid expenses and other assets		(3,678	)		(1,011	)
(Decrease) increase in income tax receivable/payable, net		(12,137	)		1,519
Increase in accounts payable		4,556			7,925
Decrease in deferred revenue		(3,848	)		(8,847	)
Increase in accrued program costs		22,720			30,536
(Decrease) increase in other payables and accrued expenses		(3,562	)		3,098
Net cash provided by operating activities		18,244			36,200
Cash flows from investing activities:
Capital expenditures		(5,333	)		(6,122	)
Investment		(950	)		(3,283	)
Acquisition of product lines and other intangible assets		(25,904	)		(224	)
Net cash used in investing activities		(32,187	)		(9,629	)
Cash flows from financing activities:
Payments under line of credit agreement		(59,025	)		(24,000	)
Borrowings under line of credit agreement		76,000			—
Payments on other long-term liabilities		(26	)		(541	)
Tax benefit from exercise of stock options		—			82
Net payments from the issuance of common stock (sale of stock under ESPP,    exercise of stock options, and shares purchased for tax withholding)		(820	)		204
Payment of cash dividends		(1,161	)		(289	)
Net cash provided by (used in) financing activities		14,968			(24,544	)
Net increase in cash and cash equivalents		1,025			2,027
Effect of exchange rate changes on cash and cash equivalents		151			(957	)
Cash and cash equivalents at beginning of period		7,869			5,524
Cash and cash equivalents at end of period	$	9,045		$	6,594

See notes to the condensed consolidated financial statements.

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AMERICAN VANGUARD CORPORATION AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

(In thousands, except share data)

(Unaudited)

1. The accompanying unaudited condensed consolidated financial statements of American Vanguard Corporation and Subsidiaries (“AVD”) have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation, have been included. Operating results for the nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. For further information, refer to the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.

2. Property, plant and equipment at September 30, 2017 and December 31, 2016 consists of the following:

	September 30, 2017			December 31, 2016
Land	$	2,458		$	2,458
Buildings and improvements		16,610			15,515
Machinery and equipment		106,641			102,146
Office furniture, fixtures and equipment		4,701			5,016
Automotive equipment		398			387
Construction in progress		2,220			8,047
Total gross value		133,028			133,569
Less accumulated depreciation		(83,533	)		(83,274	)
Total net value	$	49,495		$	50,295

The Company recognized depreciation expense related to property, plant and equipment of $2,033 and $2,021 for the three months ended September 30, 2017 and 2016, respectively.   During the three months ended September 30, 2017 and 2016, the Company eliminated from assets and accumulated depreciation $1,126 and $285, respectively, of fully depreciated assets.

The Company recognized depreciation expense related to property, plant and equipment of $6,112 and $6,334 for the nine months ended September 30, 2017 and 2016, respectively.   During the nine months ended September 30, 2017 and 2016, the Company eliminated from assets and accumulated depreciation $5,884 and $410, respectively, of fully depreciated assets.

Substantially all of the Company’s assets are pledged as collateral with its banks.

3. Inventories are stated at the lower of cost or market. Cost is determined using the first-in, first-out method. The components of inventories consist of the following:

	September 30, 2017		December 31, 2016
Finished products	$	107,966	$	103,832
Raw materials		15,349		16,744
	$	123,315	$	120,576

As of September 30, 2017, we believe our inventories are valued at lower of cost or market.

In July 2015, Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification (“ASU”) 2015-11, Inventory (Topic 330). Topic 330 currently requires an entity to measure inventory at the lower of cost or market, where market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. This ASU limits the scope to inventory that is measured using first-in, first-out (FIFO) or average cost and requires inventory be measured at the lower of costs or net realizable value. The new standard is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The Company adopted this new standard effective January 1, 2017.  There was no impact on this adoption.

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4. Based on similar economic and operational characteristics, the Company’s business is aggregated into one reportable segment. Selective enterprise information is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Net sales:
Insecticides	$	24,866	$	25,478	$	102,249	$	89,496
Herbicides/soil fumigants/fungicides		32,717		34,242		68,783		80,009
Other, including plant growth regulators		17,191		13,328		30,680		23,148
Net sales:		74,774		73,048		201,712		192,653
Non-crop		15,201		9,399		36,841		31,992
Total net sales:	$	89,975	$	82,447	$	238,553	$	224,645
Net sales:
US	$	65,842	$	60,033	$	173,877	$	161,661
International		24,133		22,414		64,676		62,984
Total net sales:	$	89,975	$	82,447	$	238,553	$	224,645

5. Accrued Program Costs—In accordance with FASB ASC 605, the Company classifies amounts expected to be paid to its customers as a reduction of sales revenues. The Company describes these payments as “Programs.” Programs are a critical part of doing business in both the US agricultural and non-crop chemicals market places. For accounting purposes, programs are recorded as a reduction in gross sales and include market discounts from gross sales, other pricing adjustments, some grower volume incentives or other key performance indicator driven payments made to distributors, retailers or growers, at the end of a growing season. Each quarter management compares individual sale transactions with programs to determine what, if any, program liability has been incurred. Once this initial calculation is made for the specific quarter, sales and marketing management, along with executive and financial management, review the accumulated program balance and, for volume driven payments, make assessments of whether or not customers are tracking in a manner that indicates that they will meet the requirements set out in agreed upon terms and conditions attached to each Program. Following this assessment, management will make adjustments to the accumulated accrual to properly reflect the Company’s best estimate of the liability at the balance sheet date. The majority of adjustments are made at, or close to, the end of the crop season, at which time customer performance can be more fully assessed. Programs are paid out predominantly on an annual basis, usually in the final quarter of the financial year or the first quarter of the following year.  No significant changes in estimates were made during the three and nine months ended September 30, 2017 and 2016, respectively.    

6. The Company has declared and/or paid the following cash dividends in the periods covered by this Form 10-Q:

Declaration Date	Record Date	Distribution Date	Dividend Per Share		Total Paid
September 18, 2017	October 5, 2017	October 19, 2017	$	0.015	$	439
June 8, 2017	June 30, 2017	July 14, 2017	$	0.015	$	437
March 7, 2017	March 31, 2017	April 14, 2017	$	0.015	$	435
December 18, 2016	December 23, 2016	January 6, 2017	$	0.010	$	289

7. ASC 260 Earnings Per Share (“EPS”) requires dual presentation of basic EPS and diluted EPS on the face of the condensed consolidated statements of operations. Basic EPS is computed as net income divided by the weighted average number of shares of common stock outstanding during the period. Diluted EPS reflects potential dilution that could occur if securities or other contracts, which, for the Company, consists of options to purchase shares of the Company’s common stock, are exercised.

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The components of basic and diluted earnings per share were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Numerator:
Net income attributable to AVD	$	4,089	$	2,877	$	11,845	$	8,917
Denominator: (in thousands)
Weighted average shares outstanding-basic		29,193		28,957		29,064		28,886
Dilutive effect of stock options and grants		590		539		584		499
		29,783		29,496		29,648		29,385

For the three and nine months ended September 30, 2017 and 2016, no stock options were excluded from the computation of diluted earnings per share.

8. The Company has a revolving line of credit that is shown as long-term debt in the condensed consolidated balance sheets at September 30, 2017 and December 31, 2016. The Company has no short term debt as of September 30, 2017 and December 31, 2016.  These are summarized in the following table:

Long-term indebtedness ($000's)	September 30, 2017			December 31, 2016
Revolving line of credit	$	58,375		$	41,400
Deferred loan fees		(996	)		(449	)
Net long-term debt	$	57,379		$	40,951

As of June 30, 2017, AMVAC Chemical Corporation (“AMVAC”), the Company’s principal operating subsidiary, as borrower, and affiliates (including the Company, AMVAC CV and AMVAC BV), as guarantors and/or borrowers, entered into a Third Amendment to Second Amended and Restated Credit Agreement (the “Credit Agreement”) with a group of commercial lenders led by Bank of the West (AMVAC’s primary bank) as agent, swing line lender and Letter of Credit (“L/C”) issuer.  The Credit Agreement is a senior secured lending facility, consisting of a line of credit of up to $250 million, an accordion feature of up to $100 million and a maturity date of June 30, 2022.  The Credit Agreement contains two key financial covenants; namely, borrowers are required to maintain a Consolidated Funded Debt Ratio of no more than 3.25-to-1 and a Consolidated Fixed Charge Covenant Ratio of at least 1.25-to-1.   The Company’s borrowing capacity varies with its financial performance, measured in terms of EBITDA as defined in the Credit Agreement, for the trailing twelve month period.  Under the Credit Agreement, revolving loans bear interest at a variable rate based, at borrower’s election with proper notice, on either (i) LIBOR plus the “Applicable Rate” which is based upon the Consolidated Funded Debt Ratio (“Eurocurrency Rate Loan”) or (ii) the greater of (x) the Prime Rate, (y) the Federal Funds Rate plus 0.5%, and (z) the Daily One-Month LIBOR Rate plus 1.00%, plus, in the case of (x), (y) or (z) the Applicable Rate (“Alternate Base Rate Loan”). Interest payments for Eurocurrency Rate Loans are payable on the last day of each interest period (either one, two, three or six months, as selected by the borrower) and the maturity date, while interest payments for Alternate Base Rate Loans are payable on the last business day of each month and the maturity date.

At September 30, 2017, according to the terms of the Credit Agreement and based on its performance against the most restrictive covenants listed above, the Company had the capacity to increase its borrowings by up to $124,724. This compares to an available borrowing capacity of $95,985 as of September 30, 2016. The level of borrowing capacity is driven by three factors: (1) our financial performance, as measured in EBITDA for trailing twelve month period, which has improved, (2) net borrowings, which have decreased and (3) the leverage covenant (being the number of times EBITDA the Company may borrow under its credit facility agreement).

9. Reclassification—Certain items may have been reclassified in the prior period condensed consolidated financial statements to conform with the September 30, 2017 presentation.

10. Total comprehensive income includes, in addition to net income, changes in equity that are excluded from the condensed consolidated statements of operations and are recorded directly into a separate section of stockholders’ equity on the condensed consolidated balance sheets. For the three and nine month periods ended September 30, 2017 and 2016, total comprehensive income consisted of net income attributable to American Vanguard and foreign currency translation adjustments.

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11. Stock Based Compensation—The Company accounts for stock-based awards to employees and directors in accordance with FASB ASC 718, “Share-Based Payment,” which requires the measurement and recognition of compensation for all share-based payment awards made to employees and directors including shares of common stock granted for services, employee stock options, and employee stock purchases related to the Employee Stock Purchase Plan (“employee stock purchases”) based on estimated fair values.

The following tables illustrate the Company’s stock based compensation, unamortized stock-based compensation, and remaining weighted average period for the three and nine months ended September 30, 2017 and 2016.

	Stock-Based Compensation for the Three months ended		Stock-Based Compensation for the Nine months ended		Unamortized Stock-Based Compensation		Remaining Weighted Average Period (years)
September 30, 2017
Incentive Stock Options	$	80	$	250	$	94		0.3
Restricted Stock		635		2,068		4,475		1.2
Performance Based Restricted Stock		299		920		1,901		2.0
Performance Based Options		249		347		69		0.3
Total	$	1,263	$	3,585	$	6,539
September 30, 2016
Incentive Stock Options	$	71	$	252	$	497		1.2
Restricted Stock		406		1,100		2,545		1.8
Performance Based Restricted Stock		100		240		857		1.4
Performance Based Options		11		64		173		1.2
Total	$	588	$	1,656	$	4,072

Stock Options—During the three and nine months ended September 30, 2017, the Company did not grant any employees options to acquire shares of common stock.

Option activity within each plan is as follows:

	Incentive Stock Option Plans			Weighted Average Price Per Share		Exercisable Weighted Average Price Per Share
Balance outstanding, December 31, 2016		541,905		$	9.33	$	7.97
Options exercised		(15,000	)		7.50		—
Options forfeited		(3,919	)		11.49		—
Balance outstanding, March 31, 2017		522,986			9.37		7.99
Options exercised		(21,300	)		7.50		—
Options forfeited		(3,183	)		11.49		—
Balance outstanding, June 30, 2017		498,503			9.43		8.03
Options exercised		(12,000	)		7.50		—
Options forfeited		(4,285	)		11.49		—
Balance outstanding, September 30, 2017		482,218		$	9.46	$	8.05

Information relating to stock options at September 30, 2017, summarized by exercise price is as follows:

	Outstanding Weighted Average						Exercisable Weighted Average
Exercise Price Per Share	Shares		Remaining Life (Months)		Exercise Price		Shares		Exercise Price
Incentive Stock Option Plan:
$7.50		250,050		38	$	7.5		250,050	$	7.50
$11.32—$14.75		232,168		83		11.58		34,334		12.07
		482,218			$	9.46		284,384	$	8.05

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The weighted average exercise prices for options granted, and exercisable, and the weighted average remaining contractual life for options outstanding as of September 30, 2017, were as follows:

As of September 30, 2017	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Months)		Intrinsic Value (thousands)
Incentive Stock Option Plan:
Outstanding		482,218	$	9.46		60	$	6,480
Expected to Vest		480,800	$	9.46		60	$	6,464
Exercisable		284,384	$	8.05		41	$	4,222

During the three months ended September 30, 2017 and 2016, the Company recognized stock-based compensation related to stock options of $80 and $71, respectively. During the nine months ended September 30, 2017 and 2016, the Company recognized stock-based compensation related to stock options of $250 and $252, respectively.

As of September 30, 2017, the Company had approximately $94 of unamortized stock-based compensation related to unvested stock options outstanding. This amount will be recognized over the weighted-average period of 0.3 years. This projected expense will change if any stock options are granted or cancelled prior to the respective reporting periods or if there are any changes required to be made for estimated forfeitures.

Common stock grants — A summary of non-vested shares as of, and for, the nine months ended September 30, 2017 and 2016 is presented below:

	Nine Months Ended September 30, 2017					Nine Months Ended September 30, 2016
	Number of Shares			Weighted Average Grant Date Fair Value		Number of Shares			Weighted Average Grant Date Fair Value
Nonvested shares at December 31st		324,756		$	14.75		362,841		$	20.43
Granted		251,475			16.10		—			—
Vested		(10,100	)		12.95		(127,274	)		31.29
Forfeited		(6,544	)		15.26		(16,008	)		23.67
Nonvested shares at March 31st		559,587			15.38		219,559			14.59
Granted		38,502			17.08		140,541			15.08
Vested		(188,400	)		15.22		(22,639	)		15.63
Forfeited		(6,593	)		15.55		(6,457	)		14.98
Nonvested shares at June 30th		403,096			15.61		331,004			14.72
Granted		1,000			19.90		1,668			16.75
Vested		(1,065	)		12.88		(2,566	)		19.18
Forfeited		(5,209	)		15.80		(12,822	)		14.98
Nonvested shares at September 30th		397,822		$	15.63		317,284		$	14.69

Common stock grants — During the nine months ended September 30, 2017, the Company issued a total of 290,977 shares of common stock to employees and directors. 24,312 shares vested immediately, 3,900 shares will vest in three equal tranches on the employee’s anniversary, 1,000 shares will cliff vest after one year of service, 2,500 shares will cliff vest after two years of service, and the remaining shares will cliff vest after three years of service. The shares granted in 2017 were average fair valued at $16.24 per share.  The fair value was determined by using the publicly traded share price as of the date of grant. The Company will recognize as expense the value of restricted shares over the required service period.

During the nine months ended September 30, 2016, the Company issued a total of 142,209 shares of restricted common stock to employees. Of these, 21,139 shares vested immediately and the remaining 121,070 shares will cliff vest after three years of service. The shares granted in 2016 were average fair valued at $15.10 per share. The fair value was determined by using the publicly traded share price as of the date the grant was approved. The Company will recognize as expense the value of restricted shares over the required service period.  

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During the three months ended September 30, 2017 and 2016, the Company recognized stock-based compensation related to restricted shares of $635 and $406, respectively. During the nine months ended September 30, 2017 and 2016, the Company recognized stock-based compensation related to restricted shares of $2,068 and $1,100, respectively.  

As of September 30, 2017, the Company had approximately $4,475 of unamortized stock-based compensation related to unvested restricted shares. This amount will be recognized over the weighted-average period of 1.2 years. This projected expense will change if any restricted shares are granted or cancelled prior to the respective reporting periods or if there are any changes required to be made for estimated forfeitures.

Performance Based Shares—A summary of non-vested performance based shares as of, and for, the nine months ended September 30, 2017 and 2016, respectively is presented below:

	Nine Months Ended September 30, 2017					Nine Months Ended September 30, 2016
	Number of Shares			Weighted Average Grant Date Fair Value		Number of Shares			Weighted Average Grant Date Fair Value
Nonvested shares at December 31st		119,022		$	14.18		104,403		$	17.05
Granted		121,194			15.40		—			—
Forfeited		—			—		(9,395	)		17.65
Nonvested shares at March 31st		240,216			14.80		95,008			16.99
Granted		7,400			15.88		52,170			14.39
Vested		(48,046	)		14.92		—			—
Forfeited		(12,560	)		12.92		(19,612	)		28.25
Nonvested shares at June 30th		187,010			14.93		127,566			14.20
Forfeited		(953	)		15.21		(8,544	)		14.39
Nonvested shares at September 30th		186,057		$	14.93		119,022		$	14.18

Performance Based Shares — During the nine months ended September 30, 2017, the Company issued a total of 128,594 performance based shares to employees. The shares granted during the nine months of 2017 have an average fair value of $15.43.  The fair value was determined by using the publicly traded share price as of the date of grant. The Company will recognize as expense the value of the performance based shares over the required service period from grant date. The shares will cliff vest on February 8, 2020 with a measurement period commencing January 1, 2017 and ending December 31, 2019. Eighty percent of these performance based shares are based upon the financial performance of the Company, specifically, an earnings before income taxes (“EBIT”) goal weighted at 50% and a net sales goal weighted at 30%. The remaining 20% of performance based shares are based upon AVD stock price appreciation over the same performance measurement period. The EBIT and net sales goals measure the relative growth of the Company’s EBIT and net sales for the performance measurement period, as compared to the median growth of EBIT and net sales for an identified peer group. The stockholder return goal measures the relative growth of the fair market value of the Company’s stock price over the performance measurement period, as compared to that of the Russell 2000 Index and the median fair market value of the common stock of the comparator companies, identified in the Company’s 2016 Proxy Statement. All parts of these awards vest in three years, but are subject to reduction to a minimum (or even zero) for recording less than the targeted performance and to increase to a maximum of 200% for achieving in excess of the targeted performance.

During the nine months ended September 30, 2016, the Company granted a total of 52,170 performance based shares that will cliff vest on January 6, 2019 with a measurement period commencing January 1, 2016 and ending December 31, 2018. Eighty percent of these performance based shares are based upon the financial performance of the Company, specifically, EBIT goal weighted at 50% and a net sales goal weighted at 30%. The remaining 20% of performance based shares are based upon AVD stock price appreciation over the same performance measurement period. The EBIT and net sales goals measure the relative growth of the Company’s EBIT and net sales for the performance measurement period, as compared to the median growth of EBIT and net sales for an identified peer group. The stockholder return goal measures the relative growth of the fair market value of the Company’s stock price over the performance measurement period, as compared to that of the Russell 2000 Index and the median fair market value of the common stock of the comparator companies, identified in the Company’s 2015 Proxy Statement. All parts of these awards vest in three years, but are subject to reduction to a minimum (or even zero) for recording less than the targeted performance and to increase to a maximum of 200% for achieving in excess of the targeted performance.   

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As of September 30, 2017, performance based shares related to EBIT and net sales have an average fair value of $16.10 per share. The fair value was determined by using the publicly traded share price as of the date of grant. The performance based shares related to the Company’s stock price have an average fair value of $12.60 per share. The fair value was determined by using the Monte Carlo valuation method. For awards with performance conditions, the Company recognizes share-based compensation cost on a straight-line basis for each performance criteria over the implied service period.

During the three months ended September 30, 2017 and 2016, the Company recognized stock-based compensation related to performance based shares of $299 and $100, respectively.  During the nine months ended September 30, 2017 and 2016, the Company recognized stock-based compensation related to performance based shares of $920 and $240, respectively.  

As of September 30, 2017, the Company had approximately $1,901 of unamortized stock-based compensation expense related to unvested performance based shares. This amount will be recognized over the weighted-average period of 2.0 years. This projected expense will change if any performance based shares are granted or cancelled prior to the respective reporting periods or if there are any changes required to be made for estimated forfeitures.

Performance Incentive Stock Options—During the nine months ended September 30, 2017 and 2016, the Company did not grant any employees performance incentive stock options to acquire shares of common stock.

Performance option activity is as follows:

	Incentive Stock Option Plans			Weighted Average Price Per Share		Exercisable Weighted Average Price Per Share
Balance outstanding, December 31, 2016 and March 31, 2017		82,334		$	11.49	$	—
Options forfeited		(50	)		11.49		—
Balance outstanding, June 30, 2017		82,284			11.49		—
Options forfeited		(618	)		11.49		—
Balance outstanding, September 30, 2017		81,666		$	11.49	$	—

Information relating to stock options at September 30, 2017 summarized by exercise price is as follows:

	Outstanding Weighted Average						Exercisable Weighted Average
Exercise Price Per Share	Shares		Remaining Life (Months)		Exercise Price		Shares		Exercise Price
Performance Incentive Stock Option Plan:		81,666		3	$	11.49		—	$	—

The weighted average exercise prices for options granted and exercisable and the weighted average remaining contractual life for options outstanding as of September 30, 2017 are as follows:

As of September 30, 2017	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Months)		Intrinsic Value (thousands)
Performance Incentive Stock Option Plan:
Outstanding		81,666	$	11.49		3	$	932
Expected to Vest		79,814	$	11.49		3	$	911
Exercisable		—	$	—		—	$	—

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During the three months ended September 30, 2017 and 2016, the Company recognized stock-based compensation related to performance stock options of $249 and $11, respectively.  During the nine months ended September 30, 2017 and 2016, the Company recognized stock-based compensation related to performance stock options of $347 and $64, respectively. As of September 30, 2017, the Company assessed the likelihood of achieving the performance measures based on peer group information currently available for the performance based options granted in 2014. Based on the performance thus far, the Company has concluded that it is likely that the performance measure based on EBIT and net sales will be met at 200% of targeted performance and have considered the related additional expense as of September 30, 2017. The performance options based on market price will also be met at 200%, however, the market condition is reflected in the grant date fair value valuation and no additional expenses were recognized as of September 30, 2017.

As of September 30, 2017, the Company had approximately $69 of unamortized stock-based compensation expenses related to unvested performance incentive stock options outstanding. This amount will be recognized over the weighted-average period of 0.3 years. This projected expense will change if any performance incentive stock options are granted or cancelled prior to the respective reporting periods or if there are any changes required to be made for estimated forfeitures.

In March 2016, FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718). The new standard changes the accounting for certain aspects of share-based payments to employees. The standard requires the recognition of the income tax effects of awards in the income statement when the awards vest or are settled, thus eliminating additional paid in capital (“APIC”) pools. The standard also allows for the employer to repurchase more of an employee’s shares for tax withholding purposes without triggering liability accounting. Cash paid by an employer when directly withholding shares for tax-withholding purposes should be classified as a financing activity in the statement of cash flows. In addition, the standard allows for a policy election to account for forfeitures as they occur rather than on an estimated basis. The new standard is effective for fiscal years beginning after December 15, 2016 with early adoption permitted. The Company assessed the impact of the adoption of this new standard and determined there was no material impact on the 2016 consolidated financial statements.  The Company has considered the different options for treatment of forfeitures in accounting for stock compensation and has elected to continue to account for such adjustments on the estimated basis. The Company adopted this new standard as of January 1, 2017 on a prospective basis.  The impact of this adoption was not material.

12. Legal Proceedings— During the reporting period, there have been no material developments in legal proceedings that are pending or threatened against the Company, except as described below.

EPA FIFRA/RCRA Matter.  On November 10, 2016, the Company was served with a grand jury subpoena out of the U.S. District Court for the Southern District of Alabama in which the U.S. Department of Justice (“DoJ”) sought production of documents relating to the Company’s reimportation of depleted Thimet containers from Canada and Australia.  The Company has retained defense counsel and during 2017 year to date has substantially completed the production.  During the third quarter, the Company received a request from DoJ to interview several individuals who may be knowledgeable of the matter.  Those interviews are likely to take place during the fourth quarter. At this stage, DoJ has not made clear its intentions with regard to either its theory of the case or potential criminal enforcement.  Thus, it is too early to tell whether a loss is probable or reasonably estimable. Accordingly, the Company has not recorded a loss contingency on this matter.

Harold Reed v. AMVAC et al.  During January 2017, the Company was served with two Statements of Claim that had been filed on March 29, 2016 with the Court of Queen’s Bench of Alberta, Canada (as case numbers 160600211 and 160600237) in which plaintiffs Harold Reed (an applicator) and 819596 Alberta Ltd. dba Jem Holdings (an application equipment rental company) allege physical injury and damage to equipment, respectively, arising from a fire that occurred during an application of the Company’s potato sprout inhibitor, SmartBlock, at a potato storage facility in Coaldale, Alberta on April 2, 2014.  Plaintiffs allege, among other things, that Amvac was negligent and failed to warn them of the risks of such application.  Reed seeks damages of $250 for alleged pain and suffering, while Jem Holdings seeks $60 in alleged lost equipment; both plaintiffs also seek unspecified damages as well.  Also during January 2017, the Company received notice that four related actions relating to the same incident were filed with the same court: (i) Van Giessen Growers, Inc. v Harold Reed et al (No. 160303906)(in which grower seeks $400 for alleged loss of potatoes); (ii) James Houweling et al. v. Harold Reed et al. (No. 160104421)(in which equipment owner seeks damages for alleged lost equipment); (iii) Chin Coulee Farms, etc. v. Harold Reed et al. (No. 150600545)(in which owner of potatoes and truck seeks $530 for alleged loss thereof); and (iv) Houweling Farms v. Harold Reed et al. (No. 15060881)(in which owner of several Quonset huts seeks damages for  alleged lost improvements, equipment and business income equal to $4,300).  The Company was subsequently named as cross-defendant in those actions by Reed. During the third quarter, counsel for the Company filed a Statement of Defence (the Canadian equivalent of an answer), alleging that Reed was negligent in his application of the product and that the other cross-defendants were negligent for using highly flammable insulation and failing to maintain sparking electrical fixtures in the storage units affected by the fire.  The Company believes that the claims against it in these matters are without merit and intends to defend them vigorously.  At this stage in the proceedings, however, it is too early to determine whether a loss is probable or reasonably estimable; accordingly, the Company has not recorded a loss contingency.

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13.  Environmental— During the reporting period, there has been a material development in respect of a pending environmental matter as follows:

Environmental Site Characterization.  As reported in greater detail in the Company’s Form 10-K for the period ended December 31, 2016, soil and groundwater characterization commenced at our Los Angeles manufacturing facility in December 2002 in conjunction with a Site Investigation Plan that was approved by the Department of Toxic Substances Control (“DTSC”).  Site investigation (including extensive soil, soil gas, groundwater and air testing) continued through 2014, at the conclusion of which the Company submitted a remedial action plan (“RAP”) to DTSC.  Under the provisions of the RAP, the Company proposed not to disturb sub-surface contaminants, but to continue monitoring, maintain the cover above affected soil, enter into restrictive covenants regarding the potential use of the property in the future, and provide financial assurances relating to the requirements of the RAP.  In January 2017, the RAP was circulated for public comment.  DTSC responded to those comments and, on September 29, 2017, approved the RAP as submitted by the Company. The Company intends to prepare an operation and maintenance plan, to record covenants on certain affected parcels and to obtain further clarification on financial assurance obligations relating to the RAP.  At this stage, the Company does not believe that costs to be incurred in connection with the RAP will be material and has not recorded a loss contingency for these activities.

14. Recently Issued Accounting Guidance— In November 2016, FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230).  The new standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows.  The new standard is effective for fiscal years beginning after December 15, 2017.  Based on the composition of the Company’s cash and cash equivalent, adoption of the new standard is not expected to have a material impact on our consolidated cash flows statements.  The Company expects to adopt the standard for the financial year beginning January 1, 2018.

In August 2016, FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230).  The new standard addresses eight specific classification issues within the current practice regarding the manner in which certain cash receipts and cash payments are presented.  The new standard is effective for fiscal years beginning after December 15, 2017, with early adoption permitted. The Company has reviewed the eight specific issues addressed and does not believe that the adoption of ASU 2016-15 will have a material impact on its statement of cash flows. The Company expects to adopt the revised standard for the financial year beginning January 1, 2018.

In October 2016 FASB issued ASU 2016-16, Income Taxes (Topic 740).  Current US GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party.  Under the new standard, an entity is to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs.  The new standard does not include new disclosure requirements; however, existing disclosure requirements might be applicable when accounting for the current and deferred income taxes for an intra-entity transfer of an asset other than inventory.  The new standard is effective for annual periods beginning after December 15, 2017, including interim reporting periods within those annual periods.  The Company has considered its activities with regard to such intra-entity transfers, does not expect the adoption of ASU 2016-16 to have a material impact on our consolidated financial statements and will adopt the standard for the financial year beginning January 1, 2018.

In February 2016, FASB issued ASU 2016-02, Leases. The new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements, with certain practical expedients available.  We will evaluate our operating lease arrangements to determine the impact of this amendment on the consolidated financial statements. The evaluation will include an extensive review of our leases, which are primarily related to our manufacturing sites, regional sales offices, lease vehicles, and office equipment. The ultimate impact will depend on the Company’s lease portfolio at the time the new standard is adopted.  The Company expects to adopt ASU 2016-02 for the financial year beginning on January 1, 2019.

In May 2014, FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 outlines a new, single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. This new revenue recognition model provides a five-step analysis in determining when and how revenue is recognized. The new model will require revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration a company expects to receive in exchange for those goods or services. In March 2016, FASB issued an amendment to the standard, ASU 2016-08, to clarify the implementation guidance on principal versus agent considerations. Under the amendment, an entity is required to determine whether the nature of its promise is to provide the specified good or service itself (that is, the entity is a principal) or to arrange for that good or service to be

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provided by the other party (that is, the entity is an agent). In April 2016, FASB issued another amendment to the standard, ASU 2016-10, to clarify identifying performance obligations and the licensing implementation guidance, which retaining the related principles for those areas. The standard and the amendments are effective for annual periods beginning after December 15, 2017, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures).  These amendments will be effective upon adoption of Topic 606.  This standard also requires enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows.

We have completed an initial scoping analysis of the effect of the standards to identify the revenue streams that may be affected by this ASU. The Company is currently completing detailed contract reviews to evaluate whether the adoption could result in a change in the timing or amount of revenue recognition.  For certain products that are deemed to have no alternative use accompanied by an enforceable right to payment, recognition will change from point in time, to over time.  The Company is also evaluating the impact on timing and amounts of revenue recognition on certain licenses granted for the use of its intellectual property, as well as other revenue transactions.  The Company is in the process of determining what changes are needed to existing accounting policies and controls, as well as disclosures.  As of November 2, 2017, the Company has not yet determined whether the impact of adoption of Topic 606 will have a material impact on the Company’s financial condition, results of operations or cash flows.  The Company anticipates utilizing the modified retrospective method adoption for the financial year beginning January 1, 2018.    

15. Fair Value of Financial Instruments—The carrying values of cash, receivables and accounts payable approximate their fair values because of the short maturity of these instruments. The fair value of the Company’s long-term debt payable to the bank is estimated based on the quoted market prices for the same or similar issues or on the current rates offered to the Company for debt of the same remaining maturities. Such fair value approximates the respective carrying values of the Company’s long-term debt payable to bank.

16. Accumulated Other Comprehensive Income (“AOCI”)—The following table lists the beginning balance, annual activity and ending balance of accumulated other comprehensive loss, which consists of foreign currency translation adjustments:

	Total
Balance, December 31, 2016	$	(4,851	)
FX translation		757
Balance, March 31, 2017		(4,094	)
FX translation		280
Balance, June 30, 2017		(3,814	)
FX translation		(67	)
Balance, September 30, 2017	$	(3,881	)

17. Equity Method Investments—TyraTech Inc. (“TyraTech”) is a Delaware corporation that specializes in developing, marketing and selling pesticide products containing natural oils. As of September 30, 2017, the Company’s ownership position in TyraTech was approximately 15.11%. The Company utilizes the equity method of accounting with respect to this investment. As a result, our net income includes losses from equity method investments, which represents our proportionate share of TyraTech’s estimated net losses for the current accounting period. For the three and nine months ended September 30, 2017, the Company recognized losses of $29 and $140, respectively, as a result of the Company’s ownership position in TyraTech.  The Company recognized losses of $180 and $309, respectively, for the three and nine months ended September 30, 2016.

The Company’s investment in TyraTech is included in other assets on the condensed consolidated balance sheets. At September 30, 2017, the carrying value of the Company’s investment in TyraTech was $2,044 and the quoted market value of its shareholding was $1,210 based on the London Stock Exchange, Alternative Investment Market (“AIM”). At September 30, 2017, the Company performed an impairment review of its investment in TyraTech and concluded that the implied decrease in value was not other than temporary and no impairment charge was required.

On June 27, 2017, both Amvac Netherlands BV and Huifeng Agrochemical Company, Ltd (“Huifeng”) made individual capital contributions of $950 to the Huifeng Amvac Innovation Co. Ltd (“Hong Kong Joint Venture”). As of September 30, 2017, the Company’s ownership position in the Hong Kong Joint Venture was 50%. The Company utilizes the equity method of accounting with respect to this investment. On July 7, 2017, the Hong Kong Joint Venture purchased the shares of Profeng Australia, Pty Ltd.(“Profeng”), for a total consideration of $1,900. The purchase consists of Profeng Australia, Pty Ltd Trustee and Profeng Australia Unit Trust. Both Trust and Trustee were previously owned by Huifeng via its wholly owned subsidiary Shanghai Biological Focus center.  For the three and nine months ended September 30, 2017, the Company recognized losses of $86 and $86, respectively, as a result of the Company’s ownership position in the Hong Kong Joint Venture. There were no similar losses recognized in the prior year comparative period.

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18. Cost Method Investment–In February 2016, the Company made an equity investment in Biological Products for Agriculture (“Bi-PA”) through its Netherlands wholly-owned subsidiary. Bi-PA develops biological plant protection products that can be used for the control of pests and disease of agricultural crops. As of September 30, 2017, the Company’s ownership position in Bi-PA is 15%. At September 30, 2017, the carrying value of the Company’s investment in Bi-PA is $3,283. The Company utilizes the cost method of accounting with respect to this investment and periodically review the investment for possible impairment. There was no impairment on the investment as of September 30, 2017. The investment is recorded within other assets on the condensed consolidated balance sheets.

19. Income Taxes – Income tax expense increased by $576 to end at an expense of $1,954 for the three months ended September 30, 2017, as compared to $1,378 for the comparable period in 2016. The effective tax rate for the quarter was 32.1%, as compared to 31.3% in the same period of the prior year.  Income tax expense was $5,015 for the nine months ended September 30, 2017, as compared to $3,672 for the nine months ended September 30, 2016. The effective tax rate for the nine months ended September 30, 2017 and 2016 was 29.2% and 27.9%, respectively. The effective tax rate is based on the projected income for the full year and is subject to ongoing review and adjustment by management.

During the first quarter of 2017, the Company adopted ASU 2016-09, “Improvement to Employee Share-Based Payment Accounting,” which simplifies several aspects of the accounting for share-based payments, including treatment of excess tax benefits and forfeitures, as well as consideration of minimum statutory tax withholding requirements. Under the new standard, all excess tax benefits and tax deficiencies will be recognized as income tax expense or benefit in the income statement as discrete items in the reporting period in which they occur. For the nine months ended September 30, 2017, a discrete tax benefit of $333 was recognized as part of the income tax expense.

The Company has effectively settled its examination with the Internal Revenue Service (“IRS”) for the tax years ended December 31, 2012 and 2014.  As a result, the Company increased deferred tax assets and income taxes payable at December 31, 2016 by $12,598.  The Company’s 2015 federal income tax return is still subject to IRS examination.  The Company’s state income tax returns are subject to examination for the 2012 through 2015 tax years.  On April 3, 2017, the Company paid the IRS $11,580.

20.  Acquisitions – During the first nine months of 2017, the Company completed two acquisitions with a combined purchase consideration of $25,100.  The preliminary allocation of the purchase price was $22,000 to product rights, $1,900 to trademarks, and $1,200 to customer lists.      

The operating results of these acquisitions are immaterial to the accompanying condensed consolidated financial statements individually and in the aggregate.  Therefore, pro forma financial data is not presented.  

On June 6, 2017, the Company’s principal operating subsidiary, Amvac Chemical Corporation, completed an acquisition of certain assets relating to the abamectin, chlorothalonil and paraquat product lines from a group of companies, including Adama Agricultural Solutions, Ltd.  The consideration for the acquired assets was paid in cash and has initially been allocated to inventory and intangible assets.  The acquired products were included in the Company’s results of operations from June 6, 2017 (the date of acquisition).  

On August 22, 2017, the Company’s Netherlands-based subsidiary, AMVAC Netherlands BV, completed the acquisition of certain selective herbicides and contact fungicides including chlorothanonil, ametryn, and isopyrazam, sold in the Mexican agricultural market. The assets were purchased from Syngenta AG.  The consideration for the acquired assets was paid in cash and has initially been allocated to inventory and intangible assets.  The acquired products were included in the Company’s results of operations from August 22, 2017 (the date of acquisition).

21.  Subsequent Events – On October 2, 2017, the Company’s subsidiary, AMVAC Chemical, completed its acquisition of OHP, Inc., a US-based distribution company specializing in the greenhouse and nursery production markets throughout the United States and Puerto Rico.  OHP will continue to operate in its horticultural markets using OHP brands.  

On October 27, 2017, the Company’s wholly-owned subsidiary, AMVAC Netherlands BV, completed its acquisition of Grupo Agricenter, a distribution company based in Central America.  

The combined cash consideration was approximately $41,750, plus inventory and other deferred performance driven payments.  These acquisitions were funded from the borrowings on our credit facility agreement.

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Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Numbers in thousands)

FORWARD-LOOKING STATEMENTS/RISK FACTORS:

The Company, from time-to-time, may discuss forward-looking statements including assumptions concerning the Company’s operations, future results and prospects. These forward-looking statements are based on current expectations and are subject to a number of risks, uncertainties and other factors. In connection with the Private Securities Litigation Reform Act of 1995, the Company provides the following cautionary statements identifying important factors which, among other things, could cause the actual results and events to differ materially from those set forth in or implied by the forward-looking statements and related assumptions contained in the entire Report. Such factors include, but are not limited to: product demand and market acceptance risks; the effect of economic conditions; weather conditions; changes in regulatory policy; the impact of competitive products and pricing; changes in foreign exchange rates; product development and commercialization difficulties; capacity and supply constraints or difficulties; availability of capital resources; general business regulations, including taxes and other risks as detailed from time-to-time in the Company’s reports and filings filed with the U.S. Securities and Exchange Commission (the “SEC”). It is not possible to foresee or identify all such factors. For more detailed information, refer to Item 1A., Risk factors and Item 7A., Quantitative and Qualitative Disclosures about Market Risk, in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.

MANAGEMENT OVERVIEW

Overall financial performance for the quarter ended September 30, 2017 included sales of $89,975, which were up approximately 9%, as compared to sales of $82,447 for the third quarter of 2016. Our gross profit performance ended at $38,032 or 42% of sales, as compared to $32,986 or 40% of sales for the comparable quarter last year. Operating costs increased to 35% of sales for the three months ended September 30, 2017 as compared to 34% for the same period in prior year.  Overall net income increased by $1,212 or 42% at $0.14 per basic and diluted share as compared to $0.10 per basic and diluted share this time last year.

Overall financial performance for the nine month period ended September 30, 2017 included improved sales and net income, as compared to the same period in 2016. Sales for the period were up approximately 6% to $238,553, as compared to $224,645 for the first nine months of 2016. Under absorption of factory costs for the nine month period reduced from 4% of sales to 3% of sales. Our gross profit performance ended at $102,451 or 43% of sales, as compared to $91,884 or 41% of sales for the comparable prior period. Operating expenses remained flat at 35% of net sales and net income improved by $2,928 or 33% to $0.41 per basic share and $0.40 per diluted share, as compared to $0.31 per basic and $0.30 per diluted share.

Net sales for our crop business were up 2% in the quarter and 5% year to date, as compared to the same periods of the prior year. This included a benefit of approximately $7,150 in sales of products from acquisitions concluded earlier in 2017, partially offset by a reduction in the price of Impact in the form of a $2,100 program accruals against inventory in the channel  Our non-crop business was up 62% in the three month period ended September 30, 2017 and 15% in the nine month period, as compared to this time last year due primarily to strong sales of our mosquito control insecticide Dibrom® in the aftermath of domestic hurricanes.  Our international sales were up 8% for the three months ended September 30, 2017 and were up 3% for the nine months ended September 30, 2017.  A more detailed discussion of general market conditions and sales performance by category of products appears below.  

When considering the condensed consolidated balance sheet, as of September 30, 2017, net debt was increased by $12,891 and $16,428, as compared to September 30, 2016 and December 31, 2016, respectively. This increase is partly the result of funding product line acquisitions announced during the third quarter of 2017.  Debt, net of deferred loan fees, at September 30, 2017 and at December 31, 2016 were $57,379 and $40,951, respectively. Inventory ended the quarter at $123,315 including the impact of newly acquired products and was $120,576 as of December 31, 2016. This compared to $141,678 as of September 30, 2016.  

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RESULTS OF OPERATIONS

Quarter Ended September 30:

	2017			2016			Change			% Change
Net sales:
Insecticides	$	24,866		$	25,478		$	(612	)		-2	%
Herbicides/soil fumigants/fungicides		32,717			34,242			(1,525	)		-4	%
Other, including plant growth regulators		17,191			13,328			3,863			29	%
Total crop		74,774			73,048			1,726			2	%
Non-crop		15,201			9,399			5,802			62	%
	$	89,975		$	82,447		$	7,528			9	%
Cost of sales:
Insecticides	$	16,141		$	17,029		$	(888	)		-5	%
Herbicides/soil fumigants/fungicides		19,551			18,146			1,405			8	%
Other, including plant growth regulators		10,230			9,609			621			6	%
Total crop		45,922			44,784			1,138			3	%
Non-crop		6,021			4,677			1,344			29	%
	$	51,943		$	49,461		$	2,482			5	%
Gross profit:
Insecticides	$	8,725		$	8,449		$	276			3	%
Herbicides/soil fumigants/fungicides		13,166			16,096			(2,930	)		-18	%
Other, including plant growth regulators		6,961			3,719			3,242			87	%
Gross profit crop		28,852			28,264			588			2	%
Gross profit non-crop		9,180			4,722			4,458			94	%
	$	38,032		$	32,986		$	5,046			15	%
Gross margin crop		39	%		39	%
Gross margin non-crop		60	%		50	%
Total gross margin		42	%		40	%

	2017		2016		Change		% Change
Net sales:
US	$	65,842	$	60,033	$	5,809		10	%
International		24,133		22,414		1,719		8	%
	$	89,975	$	82,447	$	7,528		9	%

The improved quarterly sales performance was driven by three primary factors.  First, we experienced increased demand of our mosquito control product Dibrom® in the Gulf states following Hurricane Harvey and Hurricane Irma.  Second, our cotton harvest defoliant Folex® generated strong sales arising from an increase in U.S. cotton acres planted (which were up about 20% over the prior year).    Third, we posted incremental quarterly revenues as a result of three products acquired from Adama during the second quarter.  Partially offsetting these year-over-year increases were lower sales of our corn herbicide in the Midwest market, slower sales of soil fumigants due primarily to weather-related factors, and a decline in one of our insecticides sold in international markets.  

Across our crop business, net sales of our insecticides group were down approximately 2% to end at $24,866, as compared to $25,478 during the third quarter of 2016. Within this category, net sales of our granular insecticides were up approximately 4%, as compared to prior year, with some gains in Aztec, Counter and Thimet products, offset by timing declines in our Mocap and Nemacur products sold primarily in International markets.  Net sales of our non-granular crop insecticides were down marginally, although this category did benefit from sales of the newly acquired Abamectin insecticide product, Abba Ultra®.

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Within the group of herbicides/fungicides/fumigants used in crop applications, net sales for the third quarter of 2017 declined by approximately 4% to $32,717 from $34,242 in the comparable period of 2016. Net sales of our herbicide products increased approximately 20%, with the introduction of our newest paraquat herbicide, Parazone®, more than offsetting reduced sales of our post emergent corn herbicide, Impact®, which resulted from highly competitive market conditions this year in the Midwest region. During the three months ended September 30, 2017, we announced reduced Impact selling prices and accrued an appropriate rebate for channel inventory in response to anticipated competition in the post emergent herbicide market for the new growing season. This resulted in a charge to income (as a reduction in net sales) in the amount of approximately $2,100 during the period.  

Sales of Dacthal® for use on a wide variety of high-valued vegetable crops held steady with the prior year and we enjoyed increased sales of our international herbicide products Hyvar® and Krovar®, up almost 100% compared to the same quarter of 2016.  Our soil fumigants business declined from the prior year’s third quarter due to an application rate reduction by one of our customers, and significant disruptions in post-harvest applications caused in the Southeast U.S. by Hurricane Irma.  In fungicides, we had steady sales of our PCNB product and posted additional sales of the newly acquired chlorothalonil fungicide, Equus.

Within the group of other products (which includes plant growth regulators, molluscicides and tolling activity), net sales were up 29%, as compared to the third quarter of 2016.  Significant quarterly sales of our Folex® cotton defoliant along with our growth regulator product NAA drove this positive performance. Offsetting these strong factors were somewhat lower sales of our Metaldehyde granules, our SmartBlock potato sprout inhibitor, and our toll manufacturing revenue which will be recognized in the fourth quarter of 2017.  

Our non-crop sales ended the third quarter of 2017 at $15,201 up 62%, as compared to $9,399 for the same period of the prior year.  The main driver of this gain was the year-over-year increase in our aerial-applied mosquito adulticide Dibrom® due to the increased demand for insect control following the Hurricanes Harvey and Irma that struck Texas, Florida and other Southeastern states. We experienced slightly lower quarterly sales of our insecticide products for commercial pest control and our pharmaceutical products.        

Our international sales increased 8% ending at $24,133, as compared to $22,414 for the third quarter of the prior year.  This performance was driven by strong sales of our Hyvar® and Krovar® herbicide brands, offset by lower Mocap and Nemacur insecticides.

Our cost of sales for the third quarter of 2017 was $51,943 or 58% of sales. This compared to $49,461 or 60% of sales for the same period of 2016. The Company aggregates a number of key variable, semi-variable and fixed cost components within reported cost of sales.  The raw materials element of our cost of sales remained approximately flat as compared to this time last year. The third quarter was a strong manufacturing quarter with high output, as the Company prepares for the new US growing season which, commences on October 1. Factory performance in the third quarter of 2017 was slightly stronger than the prior year. As a result, the unrecovered element of factory costs decreased to 2% of sales as compared to a cost of 3% of sales in the same period of the prior year. Finally, the Company made more sales with higher margins in 2017 primarily driven by strong market performance in some of our key markets.

Gross profit for the third quarter of 2017 improved by $5,046, or 15%, to end at $38,032, as compared to $32,986 for the third quarter of 2016.  Gross margin percentage ended at 42% in the three months ended September 30, 2017, as compared to 40% in the same period of the prior year.  This strong performance was primarily driven by sales of higher margin products, production planning, and a $1,000 improvement in factory under absorption costs in light of strong factory utilization rates and inventory cost adjustments based upon capacity use studies.  

As discussed below in detail by department, operating expenses increased by $3,284 to $31,570 for the three months ended September 30, 2017, as compared to the same period in 2016. That increase arose as the Company incurred one-time costs (of approximately $800) related to multiple acquisitions.  In addition, we incurred higher regulatory costs relating to re-registration requirements for several of our organophosphate active ingredients, which constitute an important part of the Company’s portfolio, and heightened investment in product development to help fill our pipeline with new products (of approximately $1,440).  Further, we invested more heavily in SIMPAS (an increase of approximately $400), particularly in connection with the GPS integration effort, in order to bring that technology closer to commercialization. These expenditures should serve to generate a long term return on investment.

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The differences in operating expenses by department are as follows:

	2017		2016		Change			% Change
Selling	$	6,671	$	7,096	$	(425	)		-6	%
General and administrative		9,227		7,546		1,681			22	%
Research, product development and regulatory		7,324		5,200		2,124			41	%
Freight, delivery and warehousing		8,348		8,444		(96	)		-1	%
	$	31,570	$	28,286	$	3,284			12	%

• Selling expenses decreased by $425 to end at $6,671 for the three months ended September 30, 2017, as compared to the same period of 2016.  The main driver for the decrease is related to lower costs associated with quality claims.  

• General and administrative expenses increased by $1,681 to end at $9,227 for the three months ended September 30, 2017, as compared to the same period of 2016.  The increase in cost was driven primarily by financial and legal diligence related acquisition costs and to a lesser extent, intangible asset amortization associated with product acquisitions.

• Research, product development costs and regulatory expenses increased by $2,124 to end at $7,324 for the three months ended September 30, 2017, as compared to the same period of 2016. The increase is related to more regulatory activity defending our expanding portfolio of products and additional product development studies, again driven by expanding portfolio and continued progress on our investment in developing SIMPAS technology.  

• Freight, delivery and warehousing costs for the three months ended September 30, 2017 were $8,348 or 9.4% of sales as compared to $8,444 or 10.2% of sales for the same period in 2016. This improvement was primarily driven by reduced inventory levels driving overall lower warehouse costs and  mix of sales, including lower sales of our high volume bulk fumigant products, in comparison to the same period of the prior year.

Interest costs net of capitalized interest, were $375 in the three months ended September 30, 2017, as compared to $301 in the same period of 2016. Interest costs are summarized in the following table:

Average Indebtedness and Interest expense

	Three months ended September 30, 2017								Three months ended September 30, 2016
	Average Debt		Interest Expense			Interest Rate			Average Debt		Interest Expense			Interest Rate
Revolving line of credit (average)	$	44,897	$	320			2.9	%	$	44,617	$	241			2.2	%
Amortization of deferred loan fees		—		57			—			—		62			—
Subtotal		44,897		377			3.4	%		44,617		303			2.7	%
Notes payable		—		—			—			9		—			—
Amortization of other deferred liabilities		—		7			—			—		9			—
Other interest expense		—		7			—			—		11			—
Subtotal		44,897		391			3.5	%		44,626		323			2.9	%
Capitalized interest		—		(16	)		—			—		(22	)		—
Total	$	44,897	$	375			3.3	%	$	44,626	$	301			2.7	%

The Company’s average overall debt for the three months ended September 30, 2017 was approximately flat at $44,897, as compared to $44,626 for the three months ended September 30, 2016. During the quarter, we continued to focus on managing our working capital and controlling our usage of revolving debt. Furthermore, we continued to follow our strategy in making product line acquisitions that fit our portfolio. As can be seen from the table above, our effective bank interest rate on our revolving line of credit was 3.4% for the three months ended September 30, 2017, as compared to 2.7% in 2016.

Income tax expense increased by $576 to end at an expense of $1,954 for the three months ended September 30, 2017, as compared to $1,378 for the comparable period in 2016. The effective tax rate for the quarter was 32.1%, as compared to 31.3% in the same period of the prior year. Our effective tax rate increased due to a relatively stronger performance for our domestic business, which is in a higher tax rate jurisdiction, offset by an increase in excess tax benefits related to stock options. Furthermore, the effective tax rate for all interim periods is based on the projected income for the full year and is subject to ongoing review and adjustment by management.

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During the three months ended September 30, 2017 the Company recognized a loss of $29 on our investment in TyraTech based upon its forecasted financial performance for 2017. This compared to a loss of $180 recognized in the comparable period of 2016. The Company’s investment in TyraTech is included in other assets on the condensed consolidated balance sheets.

During the three months ended September 30, 2017, the Company recognized a loss of $86 through its Hong Kong Joint Venture on our investment in Profeng.  No comparable loss was recognized in 2016.  The Company’s investment in the Hong Kong Joint Venture is included in other assets on the condensed consolidated balance sheets.  

Non-controlling interest amounted to a loss of $71 in the three months ended September 30, 2017, as compared to $36 in the same period of the prior year. Non-controlling interest represents the share of net income that is attributable to the minority stockholder of our majority owned subsidiary, Envance.

Our overall net income for the three months ended September 30, 2017 was $4,089 or $0.14 per basic and diluted share, as compared to $2,877 or $0.10 per basic and diluted share in the same period of 2016.

Nine Months Ended September 30:

	2017			2016			Change			% Change
Net sales:
Insecticides	$	102,249		$	89,496		$	12,753			14	%
Herbicides/soil fumigants/fungicides		68,783			80,009			(11,226	)		-14	%
Other, including plant growth regulators		30,680			23,148			7,532			33	%
Total crop		201,712			192,653			9,059			5	%
Non-crop		36,841			31,992			4,849			15	%
Total net sales	$	238,553		$	224,645		$	13,908			6	%
Cost of sales:
Insecticides	$	64,495		$	59,244		$	5,251			9	%
Herbicides/soil fumigants/fungicides		38,221			42,907			(4,686	)		-11	%
Other, including plant growth regulators		17,418			15,184			2,234			15	%
Total crop		120,134			117,335			2,799			2	%
Non-crop		15,968			15,426			542			4	%
Total cost of sales	$	136,102		$	132,761		$	3,341			3	%
Gross profit:
Insecticides	$	37,754		$	30,252		$	7,502			25	%
Herbicides/soil fumigants/fungicides		30,562			37,102			(6,540	)		-18	%
Other, including plant growth regulators		13,262			7,964			5,298			67	%
Gross profit crop		81,578			75,318			6,260			8	%
Gross profit non-crop		20,873			16,566			4,307			26	%
Total gross profit	$	102,451		$	91,884		$	10,567			12	%
Gross margin crop		40	%		39	%
Gross margin non-crop		57	%		52	%
Total gross margin		43	%		41	%

	2017		2016		Change		% Change
Net sales:
US	$	173,877	$	161,661	$	12,216		8	%
International		64,676		62,984		1,692		3	%
Total net sales	$	238,553	$	224,645	$	13,908		6	%

Sales for the nine months ended September 30, 2017 improved by nearly 6% to end at $238,553, as compared to $224,645, this time last year. This year-over-year improvement was driven by three major factors: first, our cotton products generated strong sales arising from an increase in U.S. cotton acres planted; second, we experienced incremental sales attributable to the acquisition of three new products; and third, increased post-hurricane demand for our mosquito adulticide. Partially offsetting these year-over-year increases were lower sales of our corn herbicide into the Midwest market and slower sales of soil fumigants primarily due to several weather-related application interruptions.

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Across our crop business, net sales of our insecticides group were up approximately 14% to end at $102,249, as compared to $89,496 during the nine months ended September 30, 2016. Within this category, net sales of our non-granular insecticides increased by 38% driven by our cotton insecticide Bidrin^® which posted significantly increased sales due to the increase in 2017 U.S. cotton acres and an increase in foliar pest pressure, as compared to extremely low infestation levels of 2016. Further, net sales of our granular soil insecticides were up 9%. This increase was due to the strong performance of our granular products including corn insecticides Aztec® and SmartChoice; Thimet^® (used primarily in peanuts and sugar cane) and Counter®, which is largely used for nematode control in corn and sugar beets. We also recorded additional sales with our newly acquired insecticide Abba Ultra®. Offsetting these increases, in our International business, sales of Mocap were relatively flat, and we experienced softer sales of our Nemacur® brand.

Within the group of herbicides/fungicides/fumigants used in crop applications, net sales for the nine months ended September 30, 2017 declined by approximately 14% to $68,783 from $80,009 in the comparable period of 2016. During the period, we saw significantly weaker sales of our corn herbicide, Impact® in the Midwest region caused by wide-spread generic price reductions on competitive post-emergent herbicide products. Further, as mentioned above, our soil fumigants business declined by approximately 14% from the prior year due to excessively wet weather in several regions of the United States which inhibited the application of these liquid products.   We experienced a modest decline in sales of our Scepter® soybean herbicide, sold in the U.S. market, and our Hyvar® and Krovar® herbicides, which are sold in international markets. Offsetting these declines were a slight increase in sales of Dacthal®, for use on a wide variety of high valued vegetable crops, and incremental sales of the newly acquired chlorothalonil fungicide, Equus® and paraquat herbicide, Parazone®.

Within the group of other products (which includes plant growth regulators, molluscicides and tolling activity), net sales were up about 33%, as compared to the first half of 2016. This improvement was driven by both significantly higher sales of our Folex® cotton defoliant, due to increased harvested cotton acres in 2017, and stronger sales of our growth regulator product NAA. Offsetting these upside performances, our tolling revenues were lower as a result of timing and will catch up in the final quarter of the year.  

Our year-to-date non-crop sales ended up about 15% at $36,841, as compared to $31,992 for the same period of the prior year. This category benefitted from much higher sales of our aerial-applied mosquito adulticide Dibrom® resulting from hurricane Harvey (Texas) and Hurricane Irma (Florida & Georgia). These positive factors were partially offset by lower sales of our pharmaceutical products and a lower royalty payment received on our Envance consumer pest control products.      

Our international sales ended up 3% at $64,676, as compared to $62,984 for the first nine month of the prior year.  This was a result of increase in sales in our Counter and Aztec products that is somewhat offset by reduced sales of our Hyvar® and Krovar® herbicides, our Nemacur insecticide, and relatively flat sales of our Mocap insecticide and a variety of other products.

Our cost of sales for the nine months ended at $136,102 or 57% of net sales. This compares to $132,761 or 59% of net sales in the same period of 2016. The decrease in cost of sales as a percentage of net sales in 2017 was primarily the result of three drivers: first, our purchasing team has contained raw material prices; second, our manufacturing performance has improved including some minor inflation in manufacturing costs more than offset by better manufacturing output as we have continued to manage inventory and output levels in our plants; and third, the Company made more sales with higher margins in 2017 primarily driven by strong market performance in some of our key markets.

Gross profit for the nine months ended September 30, 2017 improved by $10,567, or 12%, to end at $102,451, as compared to $91,884 for the nine months of 2016.  Gross margin percentage ended at 43% in the first nine months of 2017, as compared to 41% in the same period of the prior year.  This strong performance was primarily driven by containing raw material pricing, effective production planning and favorable sales mix performance.  

As discussed below in detail by department, operating expenses increased by $6,746 to $84,175 for the nine months ended September 30, 2017, as compared to the same period in 2016. That increase arose from one-time charges for outside services related to acquisition diligence activities (of approximately $936), legal defense of the criminal investigation related to the importation of Thimet containers (of approximately $1,900), regulatory costs for re-registration of several organophosphate patents and field trials for development uses and products (of approximately $1,600), and further investment in business development personnel, SIMPAS technology and support for Smartbox systems in the field (of approximately $1,200).  

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The changes in operating expenses by department are as follows:

	2017		2016		Change			% Change
Selling	$	19,833	$	19,597	$	236			1	%
General and administrative		27,137		23,263		3,874			17	%
Research, product development and regulatory		19,013		15,995		3,018			19	%
Freight, delivery and warehousing		18,192		18,574		(382	)		-2	%
	$	84,175	$	77,429	$	6,746			9	%

• Selling expenses increased by $236 to end at $19,833 for the nine months ended September 30, 2017, as compared to the same period of 2016. The main drivers were an increase in advertising and marketing activities in both our domestic and international regions offset by lower quality complaints.

• General and administrative expenses increased by $3,874 to end at $27,137 for the nine months ended September 30, 2017, as compared to the same period of 2016.  The main drivers for the increase are primarily driven by increased legal costs (including approximately $2,246 in costs of defending discovery in connection with a criminal investigation), both legal and financial acquisitions related diligence costs, and intangible asset amortization associated with product acquisitions.

• Research, product development costs and regulatory expenses increased by $3,018 to end at $19,013 for the nine months ended September 30, 2017, as compared to the same period of 2016. The main drivers were additional regulatory studies, increased staffing as we drive product development across our expanding portfolio and business development activities, primarily focused on our new SIMPAS technology.

• Freight, delivery and warehousing costs for the nine months ended September 30, 2017 were $18,192 or 7.6% of sales as compared to $18,574 or 8.2% of sales for the same period in 2016. This improvement was primarily driven by reduced inventory levels driving overall carrying costs and the mix of sales and customer destinations in 2017 year to date, as compared to the same period of the prior year.

Interest costs net of capitalized interest were $1,073 in the first nine months of 2017, as compared to $1,304 in the same period of 2016. Interest costs are summarized in the following table:

Average Indebtedness and Interest expense

	Nine months ended September 30, 2017								Nine months ended September 30, 2016
	Average Debt		Interest Expense			Interest Rate			Average Debt		Interest Expense			Interest Rate
Revolving line of credit (average)	$	44,706	$	870			2.6	%	$	63,949	$	1,098			2.3	%
Amortization of deferred loan fees		—		182			—			—		187			—
Subtotal		44,706		1,052			3.1	%		63,949		1,285			2.7	%
Notes payable		—		—			—			27		1			—
Amortization of other deferred liabilities		—		23			—			—		28			—
Other interest expense		—		63			—			—		35			—
Subtotal		44,706		1,138			3.4	%		63,976		1,349			2.8	%
Capitalized interest		—		(65	)		—			—		(45	)		—
Total	$	44,706	$	1,073			3.2	%	$	63,976	$	1,304			2.7	%

The Company’s average overall debt for the nine months ended September 30, 2017 was $44,706, as compared to $63,976 for the nine months ended September 30, 2016. During the period, we continued to focus on managing our working capital and controlling our usage of revolving debt. As can be seen from the table above, our effective bank interest rate on our revolving line of credit was 3.1% for the nine months ended September 30, 2017, as compared to 2.7% in 2016.

Income tax expense increased by $1,343 to end at an expense of $5,015 for the nine months ended September 30, 2017, as compared to $3,672 for the comparable period in 2016. The effective tax rate for the nine months ended September 30, 2017 was 29.2%, as compared to 27.9% in the same period of the prior year. Our effective tax rate increased due to a relatively stronger performance for our domestic business, which is in a higher tax rate jurisdiction, offset by an increase in excess tax benefits related to stock options.  Furthermore, the effective tax rate for all interim periods is based on the projected income for the full year and is subject to ongoing review and adjustment by management.

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During the nine months ended September 30, 2017 we recognized a loss of $140 on our investment in TyraTech. This compared to a loss of $309 recognized in the comparable period of 2016. This reflected their forecast financial performance for 2017 and a true up of their 2016 performance, which improved in comparison to 2015. The Company’s investment in TyraTech is included in other assets on the condensed consolidated balance sheets.

During the nine months ended September 30, 2017, the Company recognized a loss of $86 through our Hong Kong Joint Venture on its investment in Profeng.  No comparable loss was recognized in 2016.  The Company’s investment in the Hong Kong Joint Venture is included in other assets on the condensed consolidated balance sheets.  

Non-controlling interest amounted to an income of $117 in the nine months ended September 30, 2017, as compared to $253 in the same period of the prior year. Non-controlling interest represents the share of net income that is attributable to the minority stockholder of our majority owned subsidiary, Envance.

Our overall net income for the nine months ended September 30, 2017 was $11,845 or $.41 per basic and $0.40 per diluted share, as compared to $8,917 or $0.31 per basic and $0.30 per diluted share in the same period of 2016.

LIQUIDITY AND CAPITAL RESOURCES

Although our net income for the nine months ended September 30, 2017 increased by $2,792 as compared to the same period in 2016, cash generated by operating activities decreased by $17,956.  This was principally due to a tax payment to the IRS for back taxes of $11,580 and a net decrease of $557 to other tax liability activities.  Other items that changed cash generated by operating activities are as described:  non-cash depreciation, amortization of intangibles and other long term assets and discounted future liabilities generated $16,373, as compared to $16,330 in the prior year; stock based compensation of $3,585 as compared to $1,656 for the nine months ended September 30, 2016; and other non-cash adjustments including loss from equity method investment provided a net cash inflow of $32,152, as compared to $27,383 in the same period of 2016.

As of September 30, 2017, our working capital increased to $144,084, as compared to $130,001 at December 31, 2016. This change was mainly driven by the increase in accounts receivable. This time last year our working capital amounted to $153,466.  The cash generated as a result of this reduction as of September 30, 2017 has been used to make product line acquisitions and to pay down debt.

During the nine months ended September 30, 2017, net sales ended up 6% at $238,553, as compared to the same period of 2016. At September 30, 2017 accounts receivable increased by 9%, as compared to the balance as of September 30, 2016. During the nine months ended September 30, 2017 the level of accounts receivable increased by $15,746, as compared to December 31, 2016. This change is driven by timing and by the mix of sales of products, customers and regions in the period to September 30, 2017.

Inventories at September 30, 2017 ended at $123,315 ($141,678 at September 30, 2016), which was an increase of $2,213 as compared to December 31, 2016. It is normal at this point in the agricultural season to see our inventories increase as we work to supply grower demand in a timely manner. This year we continued to control inventory levels to focus on managing our working capital levels. As of September 30, 2017, we believe our inventories are valued at the lower of cost or market.

The Company accrues product specific programs based on agreements with customers and calculated as a percentage of sales. Program accruals at any balance sheet date depend on the mix of customers and products sold in the previous period. The level of the accrual at any point is also affected by the growing season that is the focus of the product and the agreed periodicity of payments. Typically crop products have a growing season that ends on September 30^th each year. During the nine months ended September 30, 2017, the Company made accruals in the amount of $37,738. Programs are primarily paid out to customers either in the final quarter of the fiscal year or the first quarter of the next fiscal year. However, some programs for some products and markets are paid either more frequently or at different times in the calendar year. During the first nine months of 2017, the Company made payments in the amount of $15,018. Payments are not generally significant in the second and third quarters of each fiscal year. During the nine months ended September 30, 2016, the Company accrued $45,456 and made payments in the amount of $14,920.

Prepaid expenses at September 30, 2017 amounted to $13,543 ($12,270 at September 30, 2016), as compared to $ 11,424 at December 31, 2016.  As of September 30, 2017, accounts payable amounted to $29,355 ($23,268 at September 30, 2016), as compared to $24,358 at December 31, 2016.  In 2017, we have continued to focus on improving our demand forecasting, planning for production and management of inventories. The increase in accounts payables as of September 30, 2017, as compared to September 30, 2016 and December 31, 2016, is primarily due to demand driven higher raw material purchases towards the end of the third quarter and planning for the start of the final quarter of the year.  

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The Company utilized $32,187 for investing activities during the nine months ended September 30, 2017, as compared to $9,629 during the same period of 2016. The Company made investments in capital expenditures in the current year, primarily focused on expanding plant capabilities. Furthermore, during the nine month period, the Company paid a total of $25,904 to complete four product line acquisitions and, furthermore, made a $950 capital contribution to the Hong Kong Joint Venture. That capital contribution was then used to invest in Profeng, a business in Australia.  During the same period of the prior year the Company made a $3,283 investment in a Belgian Company that develops biological plant protection products that can be used for the control of pests and disease of agricultural crops and a small level of capital spending on our the manufacturing plants.

During the nine months ended September 30, 2017 financing activities provided $14,966, principally from the borrowings on the Company’s senior credit facility, as compared to utilizing $24,544 for the nine months ended September 30, 2016. This included a net borrowing of $16,975 against our facility, as compared to a net repayment of $24,000 for the same period last year. This overall performance for 2017 year to date was driven by generating cash from operations, managing our working capital while spending on fixed assets to ensure our manufacturing facilities are well maintained and fit for purpose.  Further, the Company received $820 from the sale of common stock under its Employee Stock Purchase Plan and issuance of stock options, as compared to providing $204 for the same period of last year. Finally, during the nine months to September 30, 2017 we paid dividends to investors in the amount of $1,161 as compared to $289 for the same period of the prior year.  

The Company has a revolving line of credit that is shown as long-term debt in the condensed consolidated balance sheets at September 30, 2017 and December 31, 2016. These are summarized in the following table:

Long-term indebtedness ($000's)	September 30, 2017						December 31, 2016
	Long-term			Total			Long-term			Total
Revolving line of credit	$	58,375		$	58,375		$	41,400		$	41,400
Deferred loan fees		(996	)		(996	)		(449	)		(449	)
Net long-term debt	$	57,379		$	57,379		$	40,951		$	40,951

As of June 30, 2017, AMVAC Chemical Corporation (“AMVAC”), the Company’s principal operating subsidiary, as borrower, and affiliates (including the Company, AMVAC CV and AMVAC BV), as guarantors and/or borrowers, entered into a Third Amendment to Second Amended and Restated Credit Agreement (the “Credit Agreement”) with a group of commercial lenders led by Bank of the West (AMVAC’s primary bank) as agent, swing line lender and Letter of Credit (“L/C”) issuer.  The Credit Agreement is a senior secured lending facility, consisting of a line of credit of up to $250 million, an accordion feature of up to $100 million and a maturity date of June 30, 2022.  The Credit Agreement contains two key financial covenants; namely, borrowers are required to maintain a Consolidated Funded Debt Ratio of no more than 3.25-to-1 and a Consolidated Fixed Charge Covenant Ratio of at least 1.25-to-1.   The Company’s borrowing capacity varies with its financial performance, measured in terms of EBITDA, for the trailing twelve month period.  Under the Credit Agreement, revolving loans bear interest at a variable rate based, at borrower’s election with proper notice, on either (i) LIBOR plus the “Applicable Rate” which is based upon the Consolidated Funded Debt Ratio (“Eurocurrency Rate Loan”) or (ii) the greater of (x) the Prime Rate, (y) the Federal Funds Rate plus 0.5%, and (z) the Daily One-Month LIBOR Rate plus 1.00%, plus, in the case of (x), (y) or (z) the Applicable Rate (“Alternate Base Rate Loan”). Interest payments for Eurocurrency Rate Loans are payable on the last day of each interest period (either one, two, three or six months, as selected by the borrower) and the maturity date, while interest payments for Alternate Base Rate Loans are payable on the last business day of each month and the maturity date.

At September 30, 2017, according to the terms of the Credit Agreement and based on its performance against the most restrictive covenants listed above, the Company had the capacity to increase its borrowings by up to $124,724. This compares to an available borrowing capacity of $95,985 as of September 30, 2016. The level of borrowing capacity is driven by three factors: (1) our financial performance, as measured in EBITDA for trailing twelve month period, which has improved, (2) net borrowings, which have decreased and (3) the leverage covenant (being the number of times EBITDA the Company may borrow under its credit facility agreement).

We believe that anticipated cash flow from operations, existing cash balances and available borrowings under our senior credit facility will be sufficient to provide us with liquidity necessary to fund our working capital and cash requirements for the next twelve months.

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RECENTLY ISSUED ACCOUNTING GUIDANCE

In November 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-18, Statement of Cash Flows (Topic 230).  The new standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows.  The new standard is effective for fiscal years beginning after December 15, 2017.  Based on the composition of the Company’s cash and cash equivalent, adoption of the new standard is not expected to have a material impact on our consolidated cash flows statements.  The Company expects to adopt the standard for the financial year beginning January 1, 2018.

In August 2016, FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230).  The new standard addresses eight specific classification issues within the current practice regarding the manner in which certain cash receipts and cash payments are presented.  The new standard is effective for fiscal years beginning after December 15, 2017, with early adoption permitted. The Company has reviewed the eight specific issues addressed and does not believe that the adoption of ASU 2016-15 will have a material impact on its statement of cash flows. The Company expects to adopt the revised standard for the financial year beginning January 1, 2018.

In October 2016, FASB issued ASU 2016-16, Income Taxes (Topic 740).  Current US GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party.  Under the new standard, an entity is to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs.  The new standard does not include new disclosure requirements; however, existing disclosure requirements might be applicable when accounting for the current and deferred income taxes for an intra-entity transfer of an asset other than inventory.  The new standard is effective for annual periods beginning after December 15, 2017, including interim reporting periods within those annual periods.  The Company has considered its activities with regard to such intra-entity transfers, does not expect the adoption of ASU 2016-16 to have a material impact on our consolidated financial statements and will adopt the standard for the financial year beginning January 1, 2018.

In February 2016, FASB issued ASU 2016-02, Leases. The new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements, with certain practical expedients available.  We will evaluate our operating lease arrangements to determine the impact of this amendment on the consolidated financial statements. The evaluation will include an extensive review of our leases, which are primarily related to our manufacturing sites, regional sales offices, lease vehicles, and office equipment. The ultimate impact will depend on the Company’s lease portfolio at the time the new standard is adopted.  The Company expects to adopt ASU 2016-02 for the financial year beginning on January 1, 2019.

In May 2014, FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 outlines a new, single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. This new revenue recognition model provides a five-step analysis in determining when and how revenue is recognized. The new model will require revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration a company expects to receive in exchange for those goods or services. In March 2016, FASB issued an amendment to the standard, ASU 2016-08, to clarify the implementation guidance on principal versus agent considerations. Under the amendment, an entity is required to determine whether the nature of its promise is to provide the specified good or service itself (that is, the entity is a principal) or to arrange for that good or service to be provided by the other party (that is, the entity is an agent). In April 2016, FASB issued another amendment to the standard, ASU 2016-10, to clarify identifying performance obligations and the licensing implementation guidance, which retaining the related principles for those areas. The standard and the amendments are effective for annual periods beginning after December 15, 2017, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures).  These amendments will be effective upon adoption of Topic 606.  This standard also requires enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows.

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We have completed an initial scoping analysis of the effect of the standards to identify the revenue streams that may be affected by this ASU. The Company is currently completing detailed contract reviews to evaluate whether the adoption could result in a change in the timing or amount of revenue recognition.  For certain products that are deemed to have no alternative use accompanied by an enforceable right to payment, recognition will change from point in time, to over time.  The Company is also evaluating the impact on timing and amounts of revenue recognition on certain licenses granted for the use of its intellectual property, as well as other revenue transactions.  The Company is in the process of determining what changes are needed to existing accounting policies and controls, as well as disclosures.  As of November 2, 2017, the Company has not yet determined whether the impact of adoption of Topic 606 will have a material impact on the Company’s financial condition, results of operations or cash flows.  The Company anticipates utilizing the modified retrospective method adoption for the financial year beginning January 1, 2018.  

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

The Company continually re-assesses the critical accounting policies used in preparing its financial statements. In the Company’s Form 10-K filed with the SEC for the year ended December 31, 2016, the Company provided a comprehensive statement of critical accounting policies. These policies have been reviewed in detail as part of the preparation work for this Form 10-Q. After our review of these matters, we have determined that, during the subject reporting period, there has been no material change to the critical accounting policies that are listed in the Company’s Form 10-K for the year ended December 31, 2016.

Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The Company is exposed to market risk related to changes in interest rates, primarily from its borrowing activities. The Company’s indebtedness to its primary lender is evidenced by a line of credit with a variable rate of interest, which fluctuates with changes in the lender’s reference rate. For more information, please refer to the applicable disclosures in the Company’s Form 10-K filed with the SEC for the year ended December 31, 2016 and the Company’s Form 8-K filed with the SEC on or about July 6, 2017.

The Company conducts business in various foreign currencies, primarily in Europe, Mexico, Central and South America. Therefore changes in the value of the currencies of such countries or regions affect the Company’s financial position and cash flows when translated into U.S. Dollars. The Company has mitigated and will continue to mitigate a portion of its currency exchange exposure through natural hedges based on the operation of decentralized foreign operating companies in which the majority of all costs are local-currency based. Furthermore, the Company has established a procedure for covering forward exchange rates on specific purchase orders when appropriate. A 10% change in the value of all foreign currencies would have an immaterial effect on the Company’s financial position and cash flows.

Item 4. CONTROLS AND PROCEDURES

As of September 30, 2017, the Company has a comprehensive set of disclosure controls and procedures designed to ensure that all information required to be disclosed in our filings under the Securities Exchange Act (1934) is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms. As of September 30, 2017, the Company’s management, including the Company’s Chief Executive Officer and Chief Financial Officer, has concluded, based on their evaluation, that the Company’s disclosure controls and procedures are effective to provide reasonable assurance of the achievement of the objectives described above.

There were no changes in the Company’s internal controls over financial reporting that occurred during the most recent quarter that have materially affected, or are reasonably likely to materially affect, the Company’s internal controls over financial reporting.

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PART II. OTHER INFORMATION

The Company was not required to report any matters or changes for any items of Part II except as disclosed below.

Item 1. Legal Proceedings

During the reporting period, there have been no material developments in legal proceedings that are pending or threatened against the Company, except as described below.

EPA FIFRA/RCRA Matter.  On November 10, 2016, the Company was served with a grand jury subpoena out of the U.S. District Court for the Southern District of Alabama in which the U.S. Department of Justice (“DoJ”) sought production of documents relating to the Company’s reimportation of depleted Thimet containers from Canada and Australia. The Company has retained defense counsel and during 2017 year to date has substantially completed the production.  During the third quarter, the Company received a request from DoJ to interview several individuals who may be knowledgeable of the matter.  Those interviews are likely to take place during the fourth quarter. At this stage, DoJ has not made clear its intentions with regard to either its theory of the case or potential criminal enforcement.  Thus, it is too early to tell whether a loss is probable or reasonably estimable. Accordingly, the Company has not recorded a loss contingency on this matter.

Harold Reed v. AMVAC et al.  During January 2017, the Company was served with two Statements of Claim that had been filed on March 29, 2016 with the Court of Queen’s Bench of Alberta, Canada (as case numbers 160600211 and 160600237) in which plaintiffs Harold Reed (an applicator) and 819596 Alberta Ltd. dba Jem Holdings (an application equipment rental company) allege physical injury and damage to equipment, respectively, arising from a fire that occurred during an application of the Company’s potato sprout inhibitor, SmartBlock, at a potato storage facility in Coaldale, Alberta on April 2, 2014.  Plaintiffs allege, among other things, that Amvac was negligent and failed to warn them of the risks of such application.  Reed seeks damages of $250 for alleged pain and suffering, while Jem Holdings seeks $60 in alleged lost equipment; both plaintiffs also seek unspecified damages as well.  Also during January 2017, the Company received notice that four related actions relating to the same incident were filed with the same court: (i) Van Giessen Growers, Inc. v Harold Reed et al (No. 160303906)(in which grower seeks $400 for alleged loss of potatoes); (ii) James Houweling et al. v. Harold Reed et al. (No. 160104421)(in which equipment owner seeks damages for alleged lost equipment); (iii) Chin Coulee Farms, etc. v. Harold Reed et al. (No. 150600545)(in which owner of potatoes and truck seeks $530 for alleged loss thereof); and (iv) Houweling Farms v. Harold Reed et al. (No. 15060881)(in which owner of several Quonset huts seeks damages for  alleged lost improvements, equipment and business income equal to $4,300).  The Company was subsequently named as cross-defendant in those actions by Reed. During the third quarter, counsel for the Company filed a Statement of Defence (the Canadian equivalent of an answer), alleging that Reed was negligent in his application of the product and that the other cross-defendants were negligent for using highly flammable insulation and failing to maintain sparking electrical fixtures in the storage units affected by the fire.  The Company believes that the claims against it in these matters are without merit and intends to defend them vigorously.  At this stage in the proceedings, however, it is too early to determine whether a loss is probable or reasonably estimable; accordingly, the Company has not recorded a loss contingency.

13.  Environmental— During the reporting period, there has been a material development in respect of a pending environmental matter as follows:

30

Environmental Site Characterization.  As reported in greater detail in the Company’s Form 10-K for the period ended December 31, 2016, soil and groundwater characterization commenced at our Los Angeles manufacturing facility in December 2002 in conjunction with a Site Investigation Plan that was approved by the Department of Toxic Substances Control (“DTSC”).  Site investigation (including extensive soil, soil gas, groundwater and air testing) continued through 2014, at the conclusion of which the Company submitted a remedial action plan (“RAP”) to DTSC.  Under the provisions of the RAP, the Company proposed not to disturb sub-surface contaminants, but to continue monitoring, maintain the cover above affected soil, enter into restrictive covenants regarding the potential use of the property in the future, and provide financial assurances relating to the requirements of the RAP.  In January 2017, the RAP was circulated for public comment.  DTSC responded to those comments and, on September 29, 2017, approved the RAP as submitted by the Company. The Company intends to prepare an operation and maintenance plan, to record covenants on certain affected parcels and to obtain further clarification on financial assurance obligations relating to the RAP.  At this stage, the Company does not believe that costs to be incurred in connection with the RAP will be material and has not recorded a loss contingency for these activities.

Item 1A.

Risk Factors

The Company continually re-assesses the business risks, and as part of that process detailed a range of risk factors in the disclosures in American Vanguard’s Report on Form 10-K for the fiscal year ended December 31, 2016, filed on March 7, 2017. In preparing this document, we have reviewed all the risk factors included in that document and find that there are no material changes to those risk factors.

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Item 6. Exhibits

Exhibits required to be filed by Item 601 of Regulation S-K:

Exhibit No.	Description
31.1	Certification of Chief Executive Officer Pursuant to Section 302 of The Sarbanes-Oxley Act of 2002.
31.2	Certification of Chief Financial Officer Pursuant to Section 302 of The Sarbanes-Oxley Act of 2002.
32.1	Certification Pursuant to Section 906 of The Sarbanes-Oxley Act of 2002.
101	The following materials from American Vanguard Corp’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2017, formatted in XBRL (Extensible Business Reporting Language): (i) Condensed consolidated Statements of Operations; (ii) Condensed consolidated Statements of Comprehensive Income; (iii) Condensed consolidated Balance Sheets; (iv) Condensed consolidated Statements of Stockholders’ Equity; (v) Condensed consolidated Statements of Cash Flows; and (vi) Notes to Condensed consolidated Financial Statements, tagged as blocks of text.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	americanvanguardcorporation
Dated: November 2, 2017	By:	/s/    eric g. wintemute
		Eric G. Wintemute
		Chief Executive Officer and Chairman of the Board
Dated: November 2, 2017	By:	/s/    david t. johnson
		David T. Johnson
		Chief Financial Officer & Principal Accounting Officer

33

EX-31.1

Exhibit 31.1

AMERICAN VANGUARD CORPORATION

CHIEF EXECUTIVE OFFICER CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Eric G. Wintemute, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of American Vanguard Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(e) and 15d-15(f)) for the registrant and have:

(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its condensed consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in according with generally accepted accounting principles;

(c) evaluated the effectiveness of the registrant’s disclosure controls and procedures, and presented in this report our conclusions about the effectiveness of the disclosures controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors:

(a) all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: November 2, 2017	/S/    ERIC G. WINTEMUTE
	Eric G. Wintemute
	Chief Executive Officer and Chairman of the Board

EX-31.2

Exhibit 31.2

AMERICAN VANGUARD CORPORATION

CHIEF FINANCIAL OFFICER CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, David T. Johnson, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of American Vanguard Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(e) and 15d-15(f)) for the registrant and have:

(a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its condensed consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in according with generally accepted accounting principles;

(c) evaluated the effectiveness of the registrant’s disclosure controls and procedures, and presented in this report our conclusions about the effectiveness of the disclosures controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors:

(a) all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: November 2, 2017	/S/    DAVID T. JOHNSON
	David T. Johnson
	Chief Financial Officer & Principal Accounting Officer

EX-32.1

Exhibit 32.1

AMERICAN VANGUARD CORPORATION

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED

PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of American Vanguard Corporation (the “Company”) on Form 10-Q for the period ended September 30, 2017 as filed with the U.S. Securities and Exchange Commission on the date hereof (the “Report”), the undersigned Chief Executive Officer and Chief Financial Officer of the Company hereby certify, pursuant to 18 U.S.C. 1350, as adopted pursuant to 906 of the Sarbanes-Oxley Act of 2002 that based on their knowledge (1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and (2) the information contained in the Report fairly represents, in all material respects, the financial condition and results of operations of the Company as of and for the periods covered in the Report.

/S/    ERIC G. WINTEMUTE

Eric G. Wintemute

Chief Executive Officer and Chairman of the Board

/S/    DAVID T. JOHNSON

David T. Johnson

Chief Financial Officer & Principal Accounting Officer

November 2, 2017

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to American Vanguard Corporation and will be retained by American Vanguard Corporation and furnished to the Securities and Exchange Commission or its staff upon request.

The foregoing certification is being furnished to the Securities and Exchange Commission as an exhibit to the Form 10-Q and shall not be considered filed as part of the Form 10-Q.

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	Sep. 30, 2017	Oct. 26, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Trading Symbol	AVD
Entity Registrant Name	AMERICAN VANGUARD CORP
Entity Central Index Key	0000005981
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		29,794,607

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Net sales	$ 89,975	$ 82,447	$ 238,553	$ 224,645
Cost of sales	51,943	49,461	136,102	132,761
Gross profit	38,032	32,986	102,451	91,884
Operating expenses	31,570	28,286	84,175	77,429
Operating income	6,462	4,700	18,276	14,455
Interest expense, net	375	301	1,073	1,304
Income before provision for income taxes and loss on equity method investments	6,087	4,399	17,203	13,151
Income tax expense	1,954	1,378	5,015	3,672
Income before loss on equity method investments	4,133	3,021	12,188	9,479
Loss from equity method investments	115	180	226	309
Net income	4,018	2,841	11,962	9,170
Income (loss) attributable to non-controlling interest	71	36	(117)	(253)
Net income attributable to American Vanguard	$ 4,089	$ 2,877	$ 11,845	$ 8,917
Earnings per common share—basic	$ 0.14	$ 0.10	$ 0.41	$ 0.31
Earnings per common share—assuming dilution	$ 0.14	$ 0.10	$ 0.40	$ 0.30
Weighted average shares outstanding—basic	29,193	28,957	29,064	28,886
Weighted average shares outstanding—assuming dilution	29,783	29,496	29,648	29,385

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 4,018	$ 2,841	$ 11,962	$ 9,170
Comprehensive income:
Foreign currency translation adjustment	(67)	(436)	970	(888)
Comprehensive income	3,951	2,405	12,932	8,282
Income (loss) attributable to non-controlling interest	71	36	(117)	(253)
Comprehensive income attributable to American Vanguard	$ 4,022	$ 2,441	$ 12,815	$ 8,029

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 9,045	$ 7,869
Receivables:
Trade, net of allowance for doubtful accounts of $45 and $42, respectively	100,043	83,777
Other	3,630	3,429
Total receivables, net	103,673	87,206
Inventories	123,315	120,576
Prepaid expenses	13,543	11,424
Total current assets	249,576	227,075
Property, plant and equipment, net	49,495	50,295
Intangible assets, net of applicable amortization	141,127	121,433
Other assets	28,917	31,153
Total assets	469,115	429,956
Current liabilities:
Current installments of other liabilities	99	26
Accounts payable	29,355	24,358
Deferred revenue		3,848
Accrued program costs	65,650	42,930
Accrued expenses and other payables	8,704	12,072
Income taxes payable	1,684	13,840
Total current liabilities	105,492	97,074
Long-term debt, net of deferred loan fees	57,379	40,951
Other liabilities, excluding current installments	2,789	2,868
Deferred income tax liabilities	6,712	6,706
Total liabilities	172,372	147,599
Commitments and contingent liabilities
Stockholders' equity:
Preferred stock, $.10 par value per share; authorized 400,000 shares; none issued
Common stock, $.10 par value per share; authorized 40,000,000 shares; issued 32,236,629 shares at September 30, 2017 and 31,819,695 shares at December 31, 2016	3,224	3,183
Additional paid-in capital	74,423	71,699
Accumulated other comprehensive loss	(3,881)	(4,851)
Retained earnings	230,962	220,428
Total stockholders' equity including treasury stock	304,728	290,459
Less treasury stock at cost, 2,450,634 shares at September 30, 2017 and December 31, 2016	(8,269)	(8,269)
American Vanguard Corporation stockholders’ equity	296,459	282,190
Non-controlling interest	284	167
Total stockholders’ equity	296,743	282,357
Total liabilities and stockholders’ equity	$ 469,115	$ 429,956

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CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 45	$ 42
Preferred stock, par value per share	$ 0.10	$ 0.10
Preferred stock, shares authorized	400,000	400,000
Preferred stock, shares issued	0	0
Common stock, par value per share	$ 0.10	$ 0.10
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	32,236,629	31,819,695
Treasury stock, shares	2,450,634	2,450,634

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CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Treasury Stock	AVD Total	Non-Controlling Interest
Balance at Dec. 31, 2016	$ 282,357	$ 3,183	$ 71,699	$ (4,851)	$ 220,428	$ (8,269)	$ 282,190	$ 167
Balance (in shares) at Dec. 31, 2016	31,819,695	31,819,695				2,450,634
Stocks issued under ESPP	$ 250	$ 2	248				250
Stocks issued under ESPP (in shares)		16,349
Cash dividends on common stock ($0.015 per share)	(435)				(435)		(435)
Foreign currency translation adjustment, net	757			757			757
Stock based compensation	1,080		1,080				1,080
Stock options exercised; grants, termination and vesting of restricted stock units (net of shares in lieu of taxes)	53	$ 37	16				53
Stock options exercised; grants, termination and vesting of restricted stock units (net of shares in lieu of taxes), Shares		377,916
Net income	3,413				3,452		3,452	(39)
Balance at Mar. 31, 2017	287,475	$ 3,222	73,043	(4,094)	223,445	$ (8,269)	287,347	128
Balance (in shares) at Mar. 31, 2017		32,213,960				2,450,634
Balance at Dec. 31, 2016	$ 282,357	$ 3,183	71,699	(4,851)	220,428	$ (8,269)	282,190	167
Balance (in shares) at Dec. 31, 2016	31,819,695	31,819,695				2,450,634
Foreign currency translation adjustment, net	$ 970
Net income	11,962
Balance at Sep. 30, 2017	$ 296,743	$ 3,224	74,423	(3,881)	230,962	$ (8,269)	296,459	284
Balance (in shares) at Sep. 30, 2017	32,236,629	32,236,629				2,450,634
Balance at Mar. 31, 2017	$ 287,475	$ 3,222	73,043	(4,094)	223,445	$ (8,269)	287,347	128
Balance (in shares) at Mar. 31, 2017		32,213,960				2,450,634
Cash dividends on common stock ($0.015 per share)	(437)				(437)		(437)
Foreign currency translation adjustment, net	280			280			280
Stock based compensation	1,242		1,242				1,242
Stock options exercised; grants, termination and vesting of restricted stock units (net of shares in lieu of taxes)	(1,517)		(1,517)				(1,517)
Stock options exercised; grants, termination and vesting of restricted stock units (net of shares in lieu of taxes), Shares		(1,836)
Net income	4,531				4,304		4,304	227
Balance at Jun. 30, 2017	291,574	$ 3,222	72,768	(3,814)	227,312	$ (8,269)	291,219	355
Balance (in shares) at Jun. 30, 2017		32,212,124				2,450,634
Stocks issued under ESPP	305	$ 2	303				305
Stocks issued under ESPP (in shares)		17,667
Cash dividends on common stock ($0.015 per share)	(439)				(439)		(439)
Foreign currency translation adjustment, net	(67)			(67)			(67)
Stock based compensation	1,263		1,263				1,263
Stock options exercised; grants, termination and vesting of restricted stock units (net of shares in lieu of taxes)	89		89				89
Stock options exercised; grants, termination and vesting of restricted stock units (net of shares in lieu of taxes), Shares		6,838
Net income	4,018				4,089		4,089	(71)
Balance at Sep. 30, 2017	$ 296,743	$ 3,224	$ 74,423	$ (3,881)	$ 230,962	$ (8,269)	$ 296,459	$ 284
Balance (in shares) at Sep. 30, 2017	32,236,629	32,236,629				2,450,634

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CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017
Statement Of Stockholders Equity [Abstract]
Cash dividends on common stock, per share	$ 0.015	$ 0.015	$ 0.015

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net income	$ 11,962	$ 9,170
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of fixed and intangible assets	12,358	12,367
Amortization of other long term assets	3,995	3,935
Amortization of discounted liabilities	20	28
Stock-based compensation	3,585	1,656
Excess tax benefit from exercise of stock options		(82)
Increase in deferred income taxes	6
Loss from equity method investments	226	309
Changes in assets and liabilities associated with operations:
Increase in net receivables	(15,746)	(19,202)
Increase in inventories	(2,213)	(5,201)
Increase in prepaid expenses and other assets	(3,678)	(1,011)
(Decrease) increase in income tax receivable/payable, net	(12,137)	1,519
Increase in accounts payable	4,556	7,925
Decrease in deferred revenue	(3,848)	(8,847)
Increase in accrued program costs	22,720	30,536
(Decrease) increase in other payables and accrued expenses	(3,562)	3,098
Net cash provided by operating activities	18,244	36,200
Cash flows from investing activities:
Capital expenditures	(5,333)	(6,122)
Investment	(950)	(3,283)
Acquisition of product lines and other intangible assets	(25,904)	(224)
Net cash used in investing activities	(32,187)	(9,629)
Cash flows from financing activities:
Payments under line of credit agreement	(59,025)	(24,000)
Borrowings under line of credit agreement	76,000
Payments on other long-term liabilities	(26)	(541)
Tax benefit from exercise of stock options		82
Net payments from the issuance of common stock (sale of stock under ESPP, exercise of stock options, and shares purchased for tax withholding)	(820)	204
Payment of cash dividends	(1,161)	(289)
Net cash provided by (used in) financing activities	14,968	(24,544)
Net increase in cash and cash equivalents	1,025	2,027
Effect of exchange rate changes on cash and cash equivalents	151	(957)
Cash and cash equivalents at beginning of period	7,869	5,524
Cash and cash equivalents at end of period	$ 9,045	$ 6,594

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Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2017

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

1. The accompanying unaudited condensed consolidated financial statements of American Vanguard Corporation and Subsidiaries (“AVD”) have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation, have been included. Operating results for the nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. For further information, refer to the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.

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Property, Plant and Equipment

9 Months Ended

Sep. 30, 2017

Property Plant And Equipment [Abstract]

Property, Plant and Equipment

2. Property, plant and equipment at September 30, 2017 and December 31, 2016 consists of the following:

	September 30, 2017			December 31, 2016
Land	$	2,458		$	2,458
Buildings and improvements		16,610			15,515
Machinery and equipment		106,641			102,146
Office furniture, fixtures and equipment		4,701			5,016
Automotive equipment		398			387
Construction in progress		2,220			8,047
Total gross value		133,028			133,569
Less accumulated depreciation		(83,533	)		(83,274	)
Total net value	$	49,495		$	50,295

The Company recognized depreciation expense related to property, plant and equipment of $2,033 and $2,021 for the three months ended September 30, 2017 and 2016, respectively.   During the three months ended September 30, 2017 and 2016, the Company eliminated from assets and accumulated depreciation $1,126 and $285, respectively, of fully depreciated assets.

The Company recognized depreciation expense related to property, plant and equipment of $6,112 and $6,334 for the nine months ended September 30, 2017 and 2016, respectively.   During the nine months ended September 30, 2017 and 2016, the Company eliminated from assets and accumulated depreciation $5,884 and $410, respectively, of fully depreciated assets.

Substantially all of the Company’s assets are pledged as collateral with its banks.

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Inventories

9 Months Ended

Sep. 30, 2017

Inventory Disclosure [Abstract]

Inventories

3. Inventories are stated at the lower of cost or market. Cost is determined using the first-in, first-out method. The components of inventories consist of the following:

	September 30, 2017		December 31, 2016
Finished products	$	107,966	$	103,832
Raw materials		15,349		16,744
	$	123,315	$	120,576

As of September 30, 2017, we believe our inventories are valued at lower of cost or market.

In July 2015, Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification (“ASU”) 2015-11, Inventory (Topic 330). Topic 330 currently requires an entity to measure inventory at the lower of cost or market, where market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. This ASU limits the scope to inventory that is measured using first-in, first-out (FIFO) or average cost and requires inventory be measured at the lower of costs or net realizable value. The new standard is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The Company adopted this new standard effective January 1, 2017.  There was no impact on this adoption.

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Segment Reporting

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Segment Reporting

4. Based on similar economic and operational characteristics, the Company’s business is aggregated into one reportable segment. Selective enterprise information is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Net sales:
Insecticides	$	24,866	$	25,478	$	102,249	$	89,496
Herbicides/soil fumigants/fungicides		32,717		34,242		68,783		80,009
Other, including plant growth regulators		17,191		13,328		30,680		23,148
Net sales:		74,774		73,048		201,712		192,653
Non-crop		15,201		9,399		36,841		31,992
Total net sales:	$	89,975	$	82,447	$	238,553	$	224,645
Net sales:
US	$	65,842	$	60,033	$	173,877	$	161,661
International		24,133		22,414		64,676		62,984
Total net sales:	$	89,975	$	82,447	$	238,553	$	224,645

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Accrued Program Costs

9 Months Ended

Sep. 30, 2017

Payables And Accruals [Abstract]

Accrued Program Costs

5. Accrued Program Costs—In accordance with FASB ASC 605, the Company classifies amounts expected to be paid to its customers as a reduction of sales revenues. The Company describes these payments as “Programs.” Programs are a critical part of doing business in both the US agricultural and non-crop chemicals market places. For accounting purposes, programs are recorded as a reduction in gross sales and include market discounts from gross sales, other pricing adjustments, some grower volume incentives or other key performance indicator driven payments made to distributors, retailers or growers, at the end of a growing season. Each quarter management compares individual sale transactions with programs to determine what, if any, program liability has been incurred. Once this initial calculation is made for the specific quarter, sales and marketing management, along with executive and financial management, review the accumulated program balance and, for volume driven payments, make assessments of whether or not customers are tracking in a manner that indicates that they will meet the requirements set out in agreed upon terms and conditions attached to each Program. Following this assessment, management will make adjustments to the accumulated accrual to properly reflect the Company’s best estimate of the liability at the balance sheet date. The majority of adjustments are made at, or close to, the end of the crop season, at which time customer performance can be more fully assessed. Programs are paid out predominantly on an annual basis, usually in the final quarter of the financial year or the first quarter of the following year.  No significant changes in estimates were made during the three and nine months ended September 30, 2017 and 2016, respectively.    

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Cash Dividend

9 Months Ended

Sep. 30, 2017

Cash Dividends [Abstract]

Cash Dividend

6. The Company has declared and/or paid the following cash dividends in the periods covered by this Form 10-Q:

Declaration Date	Record Date	Distribution Date	Dividend Per Share		Total Paid
September 18, 2017	October 5, 2017	October 19, 2017	$	0.015	$	439
June 8, 2017	June 30, 2017	July 14, 2017	$	0.015	$	437
March 7, 2017	March 31, 2017	April 14, 2017	$	0.015	$	435
December 18, 2016	December 23, 2016	January 6, 2017	$	0.010	$	289

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Earnings Per Share

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Earnings Per Share

7. ASC 260 Earnings Per Share (“EPS”) requires dual presentation of basic EPS and diluted EPS on the face of the condensed consolidated statements of operations. Basic EPS is computed as net income divided by the weighted average number of shares of common stock outstanding during the period. Diluted EPS reflects potential dilution that could occur if securities or other contracts, which, for the Company, consists of options to purchase shares of the Company’s common stock, are exercised.

The components of basic and diluted earnings per share were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Numerator:
Net income attributable to AVD	$	4,089	$	2,877	$	11,845	$	8,917
Denominator: (in thousands)
Weighted average shares outstanding-basic		29,193		28,957		29,064		28,886
Dilutive effect of stock options and grants		590		539		584		499
		29,783		29,496		29,648		29,385

For the three and nine months ended September 30, 2017 and 2016, no stock options were excluded from the computation of diluted earnings per share.

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Indebtedness

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Indebtedness

8. The Company has a revolving line of credit that is shown as long-term debt in the condensed consolidated balance sheets at September 30, 2017 and December 31, 2016. The Company has no short term debt as of September 30, 2017 and December 31, 2016.  These are summarized in the following table:

Long-term indebtedness ($000's)	September 30, 2017			December 31, 2016
Revolving line of credit	$	58,375		$	41,400
Deferred loan fees		(996	)		(449	)
Net long-term debt	$	57,379		$	40,951

As of June 30, 2017, AMVAC Chemical Corporation (“AMVAC”), the Company’s principal operating subsidiary, as borrower, and affiliates (including the Company, AMVAC CV and AMVAC BV), as guarantors and/or borrowers, entered into a Third Amendment to Second Amended and Restated Credit Agreement (the “Credit Agreement”) with a group of commercial lenders led by Bank of the West (AMVAC’s primary bank) as agent, swing line lender and Letter of Credit (“L/C”) issuer.  The Credit Agreement is a senior secured lending facility, consisting of a line of credit of up to $250 million, an accordion feature of up to $100 million and a maturity date of June 30, 2022.  The Credit Agreement contains two key financial covenants; namely, borrowers are required to maintain a Consolidated Funded Debt Ratio of no more than 3.25-to-1 and a Consolidated Fixed Charge Covenant Ratio of at least 1.25-to-1.   The Company’s borrowing capacity varies with its financial performance, measured in terms of EBITDA as defined in the Credit Agreement, for the trailing twelve month period.  Under the Credit Agreement, revolving loans bear interest at a variable rate based, at borrower’s election with proper notice, on either (i) LIBOR plus the “Applicable Rate” which is based upon the Consolidated Funded Debt Ratio (“Eurocurrency Rate Loan”) or (ii) the greater of (x) the Prime Rate, (y) the Federal Funds Rate plus 0.5%, and (z) the Daily One-Month LIBOR Rate plus 1.00%, plus, in the case of (x), (y) or (z) the Applicable Rate (“Alternate Base Rate Loan”). Interest payments for Eurocurrency Rate Loans are payable on the last day of each interest period (either one, two, three or six months, as selected by the borrower) and the maturity date, while interest payments for Alternate Base Rate Loans are payable on the last business day of each month and the maturity date.

At September 30, 2017, according to the terms of the Credit Agreement and based on its performance against the most restrictive covenants listed above, the Company had the capacity to increase its borrowings by up to $124,724. This compares to an available borrowing capacity of $95,985 as of September 30, 2016. The level of borrowing capacity is driven by three factors: (1) our financial performance, as measured in EBITDA for trailing twelve month period, which has improved, (2) net borrowings, which have decreased and (3) the leverage covenant (being the number of times EBITDA the Company may borrow under its credit facility agreement).

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Reclassification

9 Months Ended

Sep. 30, 2017

Text Block [Abstract]

Reclassification

9. Reclassification—Certain items may have been reclassified in the prior period condensed consolidated financial statements to conform with the September 30, 2017 presentation.

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Comprehensive income

9 Months Ended

Sep. 30, 2017

Equity [Abstract]

Comprehensive income

10. Total comprehensive income includes, in addition to net income, changes in equity that are excluded from the condensed consolidated statements of operations and are recorded directly into a separate section of stockholders’ equity on the condensed consolidated balance sheets. For the three and nine month periods ended September 30, 2017 and 2016, total comprehensive income consisted of net income attributable to American Vanguard and foreign currency translation adjustments.

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Stock Based Compensation

9 Months Ended

Sep. 30, 2017

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Based Compensation

11. Stock Based Compensation—The Company accounts for stock-based awards to employees and directors in accordance with FASB ASC 718, “Share-Based Payment,” which requires the measurement and recognition of compensation for all share-based payment awards made to employees and directors including shares of common stock granted for services, employee stock options, and employee stock purchases related to the Employee Stock Purchase Plan (“employee stock purchases”) based on estimated fair values.

The following tables illustrate the Company’s stock based compensation, unamortized stock-based compensation, and remaining weighted average period for the three and nine months ended September 30, 2017 and 2016.

	Stock-Based Compensation for the Three months ended		Stock-Based Compensation for the Nine months ended		Unamortized Stock-Based Compensation		Remaining Weighted Average Period (years)
September 30, 2017
Incentive Stock Options	$	80	$	250	$	94		0.3
Restricted Stock		635		2,068		4,475		1.2
Performance Based Restricted Stock		299		920		1,901		2.0
Performance Based Options		249		347		69		0.3
Total	$	1,263	$	3,585	$	6,539
September 30, 2016
Incentive Stock Options	$	71	$	252	$	497		1.2
Restricted Stock		406		1,100		2,545		1.8
Performance Based Restricted Stock		100		240		857		1.4
Performance Based Options		11		64		173		1.2
Total	$	588	$	1,656	$	4,072

Stock Options—During the three and nine months ended September 30, 2017, the Company did not grant any employees options to acquire shares of common stock.

Option activity within each plan is as follows:

	Incentive Stock Option Plans			Weighted Average Price Per Share		Exercisable Weighted Average Price Per Share
Balance outstanding, December 31, 2016		541,905		$	9.33	$	7.97
Options exercised		(15,000	)		7.50		—
Options forfeited		(3,919	)		11.49		—
Balance outstanding, March 31, 2017		522,986			9.37		7.99
Options exercised		(21,300	)		7.50		—
Options forfeited		(3,183	)		11.49		—
Balance outstanding, June 30, 2017		498,503			9.43		8.03
Options exercised		(12,000	)		7.50		—
Options forfeited		(4,285	)		11.49		—
Balance outstanding, September 30, 2017		482,218		$	9.46	$	8.05

Information relating to stock options at September 30, 2017, summarized by exercise price is as follows:

	Outstanding Weighted Average						Exercisable Weighted Average
Exercise Price Per Share	Shares		Remaining Life (Months)		Exercise Price		Shares		Exercise Price
Incentive Stock Option Plan:
$7.50		250,050		38	$	7.5		250,050	$	7.50
$11.32—$14.75		232,168		83		11.58		34,334		12.07
		482,218			$	9.46		284,384	$	8.05

The weighted average exercise prices for options granted, and exercisable, and the weighted average remaining contractual life for options outstanding as of September 30, 2017, were as follows:

As of September 30, 2017	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Months)		Intrinsic Value (thousands)
Incentive Stock Option Plan:
Outstanding		482,218	$	9.46		60	$	6,480
Expected to Vest		480,800	$	9.46		60	$	6,464
Exercisable		284,384	$	8.05		41	$	4,222

During the three months ended September 30, 2017 and 2016, the Company recognized stock-based compensation related to stock options of $80 and $71, respectively. During the nine months ended September 30, 2017 and 2016, the Company recognized stock-based compensation related to stock options of $250 and $252, respectively.

As of September 30, 2017, the Company had approximately $94 of unamortized stock-based compensation related to unvested stock options outstanding. This amount will be recognized over the weighted-average period of 0.3 years. This projected expense will change if any stock options are granted or cancelled prior to the respective reporting periods or if there are any changes required to be made for estimated forfeitures.

Common stock grants — A summary of non-vested shares as of, and for, the nine months ended September 30, 2017 and 2016 is presented below:

	Nine Months Ended September 30, 2017					Nine Months Ended September 30, 2016
	Number of Shares			Weighted Average Grant Date Fair Value		Number of Shares			Weighted Average Grant Date Fair Value
Nonvested shares at December 31st		324,756		$	14.75		362,841		$	20.43
Granted		251,475			16.10		—			—
Vested		(10,100	)		12.95		(127,274	)		31.29
Forfeited		(6,544	)		15.26		(16,008	)		23.67
Nonvested shares at March 31st		559,587			15.38		219,559			14.59
Granted		38,502			17.08		140,541			15.08
Vested		(188,400	)		15.22		(22,639	)		15.63
Forfeited		(6,593	)		15.55		(6,457	)		14.98
Nonvested shares at June 30th		403,096			15.61		331,004			14.72
Granted		1,000			19.90		1,668			16.75
Vested		(1,065	)		12.88		(2,566	)		19.18
Forfeited		(5,209	)		15.80		(12,822	)		14.98
Nonvested shares at September 30th		397,822		$	15.63		317,284		$	14.69

Common stock grants — During the nine months ended September 30, 2017, the Company issued a total of 290,977 shares of common stock to employees and directors. 24,312 shares vested immediately, 3,900 shares will vest in three equal tranches on the employee’s anniversary, 1,000 shares will cliff vest after one year of service, 2,500 shares will cliff vest after two years of service, and the remaining shares will cliff vest after three years of service. The shares granted in 2017 were average fair valued at $16.24 per share.  The fair value was determined by using the publicly traded share price as of the date of grant. The Company will recognize as expense the value of restricted shares over the required service period.

During the nine months ended September 30, 2016, the Company issued a total of 142,209 shares of restricted common stock to employees. Of these, 21,139 shares vested immediately and the remaining 121,070 shares will cliff vest after three years of service. The shares granted in 2016 were average fair valued at $15.10 per share. The fair value was determined by using the publicly traded share price as of the date the grant was approved. The Company will recognize as expense the value of restricted shares over the required service period.  

During the three months ended September 30, 2017 and 2016, the Company recognized stock-based compensation related to restricted shares of $635 and $406, respectively. During the nine months ended September 30, 2017 and 2016, the Company recognized stock-based compensation related to restricted shares of $2,068 and $1,100, respectively.  

As of September 30, 2017, the Company had approximately $4,475 of unamortized stock-based compensation related to unvested restricted shares. This amount will be recognized over the weighted-average period of 1.2 years. This projected expense will change if any restricted shares are granted or cancelled prior to the respective reporting periods or if there are any changes required to be made for estimated forfeitures.

Performance Based Shares—A summary of non-vested performance based shares as of, and for, the nine months ended September 30, 2017 and 2016, respectively is presented below:

	Nine Months Ended September 30, 2017					Nine Months Ended September 30, 2016
	Number of Shares			Weighted Average Grant Date Fair Value		Number of Shares			Weighted Average Grant Date Fair Value
Nonvested shares at December 31st		119,022		$	14.18		104,403		$	17.05
Granted		121,194			15.40		—			—
Forfeited		—			—		(9,395	)		17.65
Nonvested shares at March 31st		240,216			14.80		95,008			16.99
Granted		7,400			15.88		52,170			14.39
Vested		(48,046	)		14.92		—			—
Forfeited		(12,560	)		12.92		(19,612	)		28.25
Nonvested shares at June 30th		187,010			14.93		127,566			14.20
Forfeited		(953	)		15.21		(8,544	)		14.39
Nonvested shares at September 30th		186,057		$	14.93		119,022		$	14.18

Performance Based Shares — During the nine months ended September 30, 2017, the Company issued a total of 128,594 performance based shares to employees. The shares granted during the nine months of 2017 have an average fair value of $15.43.  The fair value was determined by using the publicly traded share price as of the date of grant. The Company will recognize as expense the value of the performance based shares over the required service period from grant date. The shares will cliff vest on February 8, 2020 with a measurement period commencing January 1, 2017 and ending December 31, 2019. Eighty percent of these performance based shares are based upon the financial performance of the Company, specifically, an earnings before income taxes (“EBIT”) goal weighted at 50% and a net sales goal weighted at 30%. The remaining 20% of performance based shares are based upon AVD stock price appreciation over the same performance measurement period. The EBIT and net sales goals measure the relative growth of the Company’s EBIT and net sales for the performance measurement period, as compared to the median growth of EBIT and net sales for an identified peer group. The stockholder return goal measures the relative growth of the fair market value of the Company’s stock price over the performance measurement period, as compared to that of the Russell 2000 Index and the median fair market value of the common stock of the comparator companies, identified in the Company’s 2016 Proxy Statement. All parts of these awards vest in three years, but are subject to reduction to a minimum (or even zero) for recording less than the targeted performance and to increase to a maximum of 200% for achieving in excess of the targeted performance.

During the nine months ended September 30, 2016, the Company granted a total of 52,170 performance based shares that will cliff vest on January 6, 2019 with a measurement period commencing January 1, 2016 and ending December 31, 2018. Eighty percent of these performance based shares are based upon the financial performance of the Company, specifically, EBIT goal weighted at 50% and a net sales goal weighted at 30%. The remaining 20% of performance based shares are based upon AVD stock price appreciation over the same performance measurement period. The EBIT and net sales goals measure the relative growth of the Company’s EBIT and net sales for the performance measurement period, as compared to the median growth of EBIT and net sales for an identified peer group. The stockholder return goal measures the relative growth of the fair market value of the Company’s stock price over the performance measurement period, as compared to that of the Russell 2000 Index and the median fair market value of the common stock of the comparator companies, identified in the Company’s 2015 Proxy Statement. All parts of these awards vest in three years, but are subject to reduction to a minimum (or even zero) for recording less than the targeted performance and to increase to a maximum of 200% for achieving in excess of the targeted performance.   

As of September 30, 2017, performance based shares related to EBIT and net sales have an average fair value of $16.10 per share. The fair value was determined by using the publicly traded share price as of the date of grant. The performance based shares related to the Company’s stock price have an average fair value of $12.60 per share. The fair value was determined by using the Monte Carlo valuation method. For awards with performance conditions, the Company recognizes share-based compensation cost on a straight-line basis for each performance criteria over the implied service period.

During the three months ended September 30, 2017 and 2016, the Company recognized stock-based compensation related to performance based shares of $299 and $100, respectively.  During the nine months ended September 30, 2017 and 2016, the Company recognized stock-based compensation related to performance based shares of $920 and $240, respectively.  

As of September 30, 2017, the Company had approximately $1,901 of unamortized stock-based compensation expense related to unvested performance based shares. This amount will be recognized over the weighted-average period of 2.0 years. This projected expense will change if any performance based shares are granted or cancelled prior to the respective reporting periods or if there are any changes required to be made for estimated forfeitures.

Performance Incentive Stock Options—During the nine months ended September 30, 2017 and 2016, the Company did not grant any employees performance incentive stock options to acquire shares of common stock.

Performance option activity is as follows:

	Incentive Stock Option Plans			Weighted Average Price Per Share		Exercisable Weighted Average Price Per Share
Balance outstanding, December 31, 2016 and March 31, 2017		82,334		$	11.49	$	—
Options forfeited		(50	)		11.49		—
Balance outstanding, June 30, 2017		82,284			11.49		—
Options forfeited		(618	)		11.49		—
Balance outstanding, September 30, 2017		81,666		$	11.49	$	—

Information relating to stock options at September 30, 2017 summarized by exercise price is as follows:

	Outstanding Weighted Average						Exercisable Weighted Average
Exercise Price Per Share	Shares		Remaining Life (Months)		Exercise Price		Shares		Exercise Price
Performance Incentive Stock Option Plan:		81,666		3	$	11.49		—	$	—

The weighted average exercise prices for options granted and exercisable and the weighted average remaining contractual life for options outstanding as of September 30, 2017 are as follows:

As of September 30, 2017	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Months)		Intrinsic Value (thousands)
Performance Incentive Stock Option Plan:
Outstanding		81,666	$	11.49		3	$	932
Expected to Vest		79,814	$	11.49		3	$	911
Exercisable		—	$	—		—	$	—

During the three months ended September 30, 2017 and 2016, the Company recognized stock-based compensation related to performance stock options of $249 and $11, respectively.  During the nine months ended September 30, 2017 and 2016, the Company recognized stock-based compensation related to performance stock options of $347 and $64, respectively. As of September 30, 2017, the Company assessed the likelihood of achieving the performance measures based on peer group information currently available for the performance based options granted in 2014. Based on the performance thus far, the Company has concluded that it is likely that the performance measure based on EBIT and net sales will be met at 200% of targeted performance and have considered the related additional expense as of September 30, 2017. The performance options based on market price will also be met at 200%, however, the market condition is reflected in the grant date fair value valuation and no additional expenses were recognized as of September 30, 2017.

As of September 30, 2017, the Company had approximately $69 of unamortized stock-based compensation expenses related to unvested performance incentive stock options outstanding. This amount will be recognized over the weighted-average period of 0.3 years. This projected expense will change if any performance incentive stock options are granted or cancelled prior to the respective reporting periods or if there are any changes required to be made for estimated forfeitures.

In March 2016, FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718). The new standard changes the accounting for certain aspects of share-based payments to employees. The standard requires the recognition of the income tax effects of awards in the income statement when the awards vest or are settled, thus eliminating additional paid in capital (“APIC”) pools. The standard also allows for the employer to repurchase more of an employee’s shares for tax withholding purposes without triggering liability accounting. Cash paid by an employer when directly withholding shares for tax-withholding purposes should be classified as a financing activity in the statement of cash flows. In addition, the standard allows for a policy election to account for forfeitures as they occur rather than on an estimated basis. The new standard is effective for fiscal years beginning after December 15, 2016 with early adoption permitted. The Company assessed the impact of the adoption of this new standard and determined there was no material impact on the 2016 consolidated financial statements.  The Company has considered the different options for treatment of forfeitures in accounting for stock compensation and has elected to continue to account for such adjustments on the estimated basis. The Company adopted this new standard as of January 1, 2017 on a prospective basis.  The impact of this adoption was not material.

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Legal Proceedings

9 Months Ended

Sep. 30, 2017

Commitments And Contingencies Disclosure [Abstract]

Legal Proceedings

12. Legal Proceedings— During the reporting period, there have been no material developments in legal proceedings that are pending or threatened against the Company, except as described below.

EPA FIFRA/RCRA Matter.  On November 10, 2016, the Company was served with a grand jury subpoena out of the U.S. District Court for the Southern District of Alabama in which the U.S. Department of Justice (“DoJ”) sought production of documents relating to the Company’s reimportation of depleted Thimet containers from Canada and Australia.  The Company has retained defense counsel and during 2017 year to date has substantially completed the production.  During the third quarter, the Company received a request from DoJ to interview several individuals who may be knowledgeable of the matter.  Those interviews are likely to take place during the fourth quarter. At this stage, DoJ has not made clear its intentions with regard to either its theory of the case or potential criminal enforcement.  Thus, it is too early to tell whether a loss is probable or reasonably estimable. Accordingly, the Company has not recorded a loss contingency on this matter.

Harold Reed v. AMVAC et al.  During January 2017, the Company was served with two Statements of Claim that had been filed on March 29, 2016 with the Court of Queen’s Bench of Alberta, Canada (as case numbers 160600211 and 160600237) in which plaintiffs Harold Reed (an applicator) and 819596 Alberta Ltd. dba Jem Holdings (an application equipment rental company) allege physical injury and damage to equipment, respectively, arising from a fire that occurred during an application of the Company’s potato sprout inhibitor, SmartBlock, at a potato storage facility in Coaldale, Alberta on April 2, 2014.  Plaintiffs allege, among other things, that Amvac was negligent and failed to warn them of the risks of such application.  Reed seeks damages of $250 for alleged pain and suffering, while Jem Holdings seeks $60 in alleged lost equipment; both plaintiffs also seek unspecified damages as well.  Also during January 2017, the Company received notice that four related actions relating to the same incident were filed with the same court: (i) Van Giessen Growers, Inc. v Harold Reed et al (No. 160303906)(in which grower seeks $400 for alleged loss of potatoes); (ii) James Houweling et al. v. Harold Reed et al. (No. 160104421)(in which equipment owner seeks damages for alleged lost equipment); (iii) Chin Coulee Farms, etc. v. Harold Reed et al. (No. 150600545)(in which owner of potatoes and truck seeks $530 for alleged loss thereof); and (iv) Houweling Farms v. Harold Reed et al. (No. 15060881)(in which owner of several Quonset huts seeks damages for  alleged lost improvements, equipment and business income equal to $4,300).  The Company was subsequently named as cross-defendant in those actions by Reed. During the third quarter, counsel for the Company filed a Statement of Defence (the Canadian equivalent of an answer), alleging that Reed was negligent in his application of the product and that the other cross-defendants were negligent for using highly flammable insulation and failing to maintain sparking electrical fixtures in the storage units affected by the fire.  The Company believes that the claims against it in these matters are without merit and intends to defend them vigorously.  At this stage in the proceedings, however, it is too early to determine whether a loss is probable or reasonably estimable; accordingly, the Company has not recorded a loss contingency.

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Environmental

9 Months Ended

Sep. 30, 2017

Environmental Remediation Obligations [Abstract]

Environmental

13.  Environmental— During the reporting period, there has been a material development in respect of a pending environmental matter as follows:

Environmental Site Characterization.  As reported in greater detail in the Company’s Form 10-K for the period ended December 31, 2016, soil and groundwater characterization commenced at our Los Angeles manufacturing facility in December 2002 in conjunction with a Site Investigation Plan that was approved by the Department of Toxic Substances Control (“DTSC”).  Site investigation (including extensive soil, soil gas, groundwater and air testing) continued through 2014, at the conclusion of which the Company submitted a remedial action plan (“RAP”) to DTSC.  Under the provisions of the RAP, the Company proposed not to disturb sub-surface contaminants, but to continue monitoring, maintain the cover above affected soil, enter into restrictive covenants regarding the potential use of the property in the future, and provide financial assurances relating to the requirements of the RAP.  In January 2017, the RAP was circulated for public comment.  DTSC responded to those comments and, on September 29, 2017, approved the RAP as submitted by the Company. The Company intends to prepare an operation and maintenance plan, to record covenants on certain affected parcels and to obtain further clarification on financial assurance obligations relating to the RAP.  At this stage, the Company does not believe that costs to be incurred in connection with the RAP will be material and has not recorded a loss contingency for these activities.

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Recently Issued Accounting Guidance

9 Months Ended

Sep. 30, 2017

Accounting Policies [Abstract]

Recently Issued Accounting Guidance

14. Recently Issued Accounting Guidance— In November 2016, FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230).  The new standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows.  The new standard is effective for fiscal years beginning after December 15, 2017.  Based on the composition of the Company’s cash and cash equivalent, adoption of the new standard is not expected to have a material impact on our consolidated cash flows statements.  The Company expects to adopt the standard for the financial year beginning January 1, 2018.

In August 2016, FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230).  The new standard addresses eight specific classification issues within the current practice regarding the manner in which certain cash receipts and cash payments are presented.  The new standard is effective for fiscal years beginning after December 15, 2017, with early adoption permitted. The Company has reviewed the eight specific issues addressed and does not believe that the adoption of ASU 2016-15 will have a material impact on its statement of cash flows. The Company expects to adopt the revised standard for the financial year beginning January 1, 2018.

In October 2016 FASB issued ASU 2016-16, Income Taxes (Topic 740).  Current US GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party.  Under the new standard, an entity is to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs.  The new standard does not include new disclosure requirements; however, existing disclosure requirements might be applicable when accounting for the current and deferred income taxes for an intra-entity transfer of an asset other than inventory.  The new standard is effective for annual periods beginning after December 15, 2017, including interim reporting periods within those annual periods.  The Company has considered its activities with regard to such intra-entity transfers, does not expect the adoption of ASU 2016-16 to have a material impact on our consolidated financial statements and will adopt the standard for the financial year beginning January 1, 2018.

In February 2016, FASB issued ASU 2016-02, Leases. The new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements, with certain practical expedients available.  We will evaluate our operating lease arrangements to determine the impact of this amendment on the consolidated financial statements. The evaluation will include an extensive review of our leases, which are primarily related to our manufacturing sites, regional sales offices, lease vehicles, and office equipment. The ultimate impact will depend on the Company’s lease portfolio at the time the new standard is adopted.  The Company expects to adopt ASU 2016-02 for the financial year beginning on January 1, 2019.

In May 2014, FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 outlines a new, single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. This new revenue recognition model provides a five-step analysis in determining when and how revenue is recognized. The new model will require revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration a company expects to receive in exchange for those goods or services. In March 2016, FASB issued an amendment to the standard, ASU 2016-08, to clarify the implementation guidance on principal versus agent considerations. Under the amendment, an entity is required to determine whether the nature of its promise is to provide the specified good or service itself (that is, the entity is a principal) or to arrange for that good or service to be provided by the other party (that is, the entity is an agent). In April 2016, FASB issued another amendment to the standard, ASU 2016-10, to clarify identifying performance obligations and the licensing implementation guidance, which retaining the related principles for those areas. The standard and the amendments are effective for annual periods beginning after December 15, 2017, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures).  These amendments will be effective upon adoption of Topic 606.  This standard also requires enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows.

We have completed an initial scoping analysis of the effect of the standards to identify the revenue streams that may be affected by this ASU. The Company is currently completing detailed contract reviews to evaluate whether the adoption could result in a change in the timing or amount of revenue recognition.  For certain products that are deemed to have no alternative use accompanied by an enforceable right to payment, recognition will change from point in time, to over time.  The Company is also evaluating the impact on timing and amounts of revenue recognition on certain licenses granted for the use of its intellectual property, as well as other revenue transactions.  The Company is in the process of determining what changes are needed to existing accounting policies and controls, as well as disclosures.  As of November 2, 2017, the Company has not yet determined whether the impact of adoption of Topic 606 will have a material impact on the Company’s financial condition, results of operations or cash flows.  The Company anticipates utilizing the modified retrospective method adoption for the financial year beginning January 1, 2018.    

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Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2017

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

15. Fair Value of Financial Instruments—The carrying values of cash, receivables and accounts payable approximate their fair values because of the short maturity of these instruments. The fair value of the Company’s long-term debt payable to the bank is estimated based on the quoted market prices for the same or similar issues or on the current rates offered to the Company for debt of the same remaining maturities. Such fair value approximates the respective carrying values of the Company’s long-term debt payable to bank.

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Accumulated Other Comprehensive Income ("AOCI")

9 Months Ended

Sep. 30, 2017

Text Block [Abstract]

Accumulated Other Comprehensive Income ("AOCI")

16. Accumulated Other Comprehensive Income (“AOCI”)—The following table lists the beginning balance, annual activity and ending balance of accumulated other comprehensive loss, which consists of foreign currency translation adjustments:

	Total
Balance, December 31, 2016	$	(4,851	)
FX translation		757
Balance, March 31, 2017		(4,094	)
FX translation		280
Balance, June 30, 2017		(3,814	)
FX translation		(67	)
Balance, September 30, 2017	$	(3,881	)

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Equity Method Investments

9 Months Ended

Sep. 30, 2017

Equity Method Investments And Joint Ventures [Abstract]

Equity Method Investments

17. Equity Method Investments—TyraTech Inc. (“TyraTech”) is a Delaware corporation that specializes in developing, marketing and selling pesticide products containing natural oils. As of September 30, 2017, the Company’s ownership position in TyraTech was approximately 15.11%. The Company utilizes the equity method of accounting with respect to this investment. As a result, our net income includes losses from equity method investments, which represents our proportionate share of TyraTech’s estimated net losses for the current accounting period. For the three and nine months ended September 30, 2017, the Company recognized losses of $29 and $140, respectively, as a result of the Company’s ownership position in TyraTech.  The Company recognized losses of $180 and $309, respectively, for the three and nine months ended September 30, 2016.

The Company’s investment in TyraTech is included in other assets on the condensed consolidated balance sheets. At September 30, 2017, the carrying value of the Company’s investment in TyraTech was $2,044 and the quoted market value of its shareholding was $1,210 based on the London Stock Exchange, Alternative Investment Market (“AIM”). At September 30, 2017, the Company performed an impairment review of its investment in TyraTech and concluded that the implied decrease in value was not other than temporary and no impairment charge was required.

On June 27, 2017, both Amvac Netherlands BV and Huifeng Agrochemical Company, Ltd (“Huifeng”) made individual capital contributions of $950 to the Huifeng Amvac Innovation Co. Ltd (“Hong Kong Joint Venture”). As of September 30, 2017, the Company’s ownership position in the Hong Kong Joint Venture was 50%. The Company utilizes the equity method of accounting with respect to this investment. On July 7, 2017, the Hong Kong Joint Venture purchased the shares of Profeng Australia, Pty Ltd.(“Profeng”), for a total consideration of $1,900. The purchase consists of Profeng Australia, Pty Ltd Trustee and Profeng Australia Unit Trust. Both Trust and Trustee were previously owned by Huifeng via its wholly owned subsidiary Shanghai Biological Focus center.  For the three and nine months ended September 30, 2017, the Company recognized losses of $86 and $86, respectively, as a result of the Company’s ownership position in the Hong Kong Joint Venture. There were no similar losses recognized in the prior year comparative period.

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Cost Method Investment

9 Months Ended

Sep. 30, 2017

Biological Products For Agriculture

Cost Method Investment

18. Cost Method Investment–In February 2016, the Company made an equity investment in Biological Products for Agriculture (“Bi-PA”) through its Netherlands wholly-owned subsidiary. Bi-PA develops biological plant protection products that can be used for the control of pests and disease of agricultural crops. As of September 30, 2017, the Company’s ownership position in Bi-PA is 15%. At September 30, 2017, the carrying value of the Company’s investment in Bi-PA is $3,283. The Company utilizes the cost method of accounting with respect to this investment and periodically review the investment for possible impairment. There was no impairment on the investment as of September 30, 2017. The investment is recorded within other assets on the condensed consolidated balance sheets.

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Income Taxes

9 Months Ended

Sep. 30, 2017

Income Tax Disclosure [Abstract]

Income Taxes

19. Income Taxes – Income tax expense increased by $576 to end at an expense of $1,954 for the three months ended September 30, 2017, as compared to $1,378 for the comparable period in 2016. The effective tax rate for the quarter was 32.1%, as compared to 31.3% in the same period of the prior year.  Income tax expense was $5,015 for the nine months ended September 30, 2017, as compared to $3,672 for the nine months ended September 30, 2016. The effective tax rate for the nine months ended September 30, 2017 and 2016 was 29.2% and 27.9%, respectively. The effective tax rate is based on the projected income for the full year and is subject to ongoing review and adjustment by management.

During the first quarter of 2017, the Company adopted ASU 2016-09, “Improvement to Employee Share-Based Payment Accounting,” which simplifies several aspects of the accounting for share-based payments, including treatment of excess tax benefits and forfeitures, as well as consideration of minimum statutory tax withholding requirements. Under the new standard, all excess tax benefits and tax deficiencies will be recognized as income tax expense or benefit in the income statement as discrete items in the reporting period in which they occur. For the nine months ended September 30, 2017, a discrete tax benefit of $333 was recognized as part of the income tax expense.

The Company has effectively settled its examination with the Internal Revenue Service (“IRS”) for the tax years ended December 31, 2012 and 2014.  As a result, the Company increased deferred tax assets and income taxes payable at December 31, 2016 by $12,598.  The Company’s 2015 federal income tax return is still subject to IRS examination.  The Company’s state income tax returns are subject to examination for the 2012 through 2015 tax years.  On April 3, 2017, the Company paid the IRS $11,580.

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Acquisitions

9 Months Ended

Sep. 30, 2017

Business Combinations [Abstract]

Acquisitions

20.  Acquisitions – During the first nine months of 2017, the Company completed two acquisitions with a combined purchase consideration of $25,100.  The preliminary allocation of the purchase price was $22,000 to product rights, $1,900 to trademarks, and $1,200 to customer lists.      

The operating results of these acquisitions are immaterial to the accompanying condensed consolidated financial statements individually and in the aggregate.  Therefore, pro forma financial data is not presented.  

On June 6, 2017, the Company’s principal operating subsidiary, Amvac Chemical Corporation, completed an acquisition of certain assets relating to the abamectin, chlorothalonil and paraquat product lines from a group of companies, including Adama Agricultural Solutions, Ltd.  The consideration for the acquired assets was paid in cash and has initially been allocated to inventory and intangible assets.  The acquired products were included in the Company’s results of operations from June 6, 2017 (the date of acquisition).  

On August 22, 2017, the Company’s Netherlands-based subsidiary, AMVAC Netherlands BV, completed the acquisition of certain selective herbicides and contact fungicides including chlorothanonil, ametryn, and isopyrazam, sold in the Mexican agricultural market. The assets were purchased from Syngenta AG.  The consideration for the acquired assets was paid in cash and has initially been allocated to inventory and intangible assets.  The acquired products were included in the Company’s results of operations from August 22, 2017 (the date of acquisition).

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Subsequent Events

9 Months Ended

Sep. 30, 2017

Subsequent Events [Abstract]

Subsequent Events

21.  Subsequent Events – On October 2, 2017, the Company’s subsidiary, AMVAC Chemical, completed its acquisition of OHP, Inc., a US-based distribution company specializing in the greenhouse and nursery production markets throughout the United States and Puerto Rico.  OHP will continue to operate in its horticultural markets using OHP brands.  

On October 27, 2017, the Company’s wholly-owned subsidiary, AMVAC Netherlands BV, completed its acquisition of Grupo Agricenter, a distribution company based in Central America.  

The combined cash consideration was approximately $41,750, plus inventory and other deferred performance driven payments.  These acquisitions were funded from the borrowings on our credit facility agreement.

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Property, Plant and Equipment (Tables)

9 Months Ended

Sep. 30, 2017

Property Plant And Equipment [Abstract]

Summary of Property, Plant and Equipment

Property, plant and equipment at September 30, 2017 and December 31, 2016 consists of the following:

	September 30, 2017			December 31, 2016
Land	$	2,458		$	2,458
Buildings and improvements		16,610			15,515
Machinery and equipment		106,641			102,146
Office furniture, fixtures and equipment		4,701			5,016
Automotive equipment		398			387
Construction in progress		2,220			8,047
Total gross value		133,028			133,569
Less accumulated depreciation		(83,533	)		(83,274	)
Total net value	$	49,495		$	50,295

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Inventories (Tables)

9 Months Ended

Sep. 30, 2017

Inventory Disclosure [Abstract]

Components of Inventories

The components of inventories consist of the following:

	September 30, 2017		December 31, 2016
Finished products	$	107,966	$	103,832
Raw materials		15,349		16,744
	$	123,315	$	120,576

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Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Summary of Business Sales Segmentation

Selective enterprise information is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Net sales:
Insecticides	$	24,866	$	25,478	$	102,249	$	89,496
Herbicides/soil fumigants/fungicides		32,717		34,242		68,783		80,009
Other, including plant growth regulators		17,191		13,328		30,680		23,148
Net sales:		74,774		73,048		201,712		192,653
Non-crop		15,201		9,399		36,841		31,992
Total net sales:	$	89,975	$	82,447	$	238,553	$	224,645
Net sales:
US	$	65,842	$	60,033	$	173,877	$	161,661
International		24,133		22,414		64,676		62,984
Total net sales:	$	89,975	$	82,447	$	238,553	$	224,645

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Cash Dividend (Tables)

9 Months Ended

Sep. 30, 2017

Cash Dividends [Abstract]

Cash Dividend

The Company has declared and/or paid the following cash dividends in the periods covered by this Form 10-Q:

Declaration Date	Record Date	Distribution Date	Dividend Per Share		Total Paid
September 18, 2017	October 5, 2017	October 19, 2017	$	0.015	$	439
June 8, 2017	June 30, 2017	July 14, 2017	$	0.015	$	437
March 7, 2017	March 31, 2017	April 14, 2017	$	0.015	$	435
December 18, 2016	December 23, 2016	January 6, 2017	$	0.010	$	289

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Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Components of Basic and Diluted Earnings Per Share

The components of basic and diluted earnings per share were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Numerator:
Net income attributable to AVD	$	4,089	$	2,877	$	11,845	$	8,917
Denominator: (in thousands)
Weighted average shares outstanding-basic		29,193		28,957		29,064		28,886
Dilutive effect of stock options and grants		590		539		584		499
		29,783		29,496		29,648		29,385

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Indebtedness (Tables)

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Summary of Revolving Line of Credit

The Company has a revolving line of credit that is shown as long-term debt in the condensed consolidated balance sheets at September 30, 2017 and December 31, 2016. The Company has no short term debt as of September 30, 2017 and December 31, 2016.  These are summarized in the following table:

Long-term indebtedness ($000's)	September 30, 2017			December 31, 2016
Revolving line of credit	$	58,375		$	41,400
Deferred loan fees		(996	)		(449	)
Net long-term debt	$	57,379		$	40,951

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Stock Based Compensation (Tables)

9 Months Ended

Sep. 30, 2017

Stock Based Compensation, Unamortized Stock-Based Compensation and Remaining Weighted Average Period

The following tables illustrate the Company’s stock based compensation, unamortized stock-based compensation, and remaining weighted average period for the three and nine months ended September 30, 2017 and 2016.

	Stock-Based Compensation for the Three months ended		Stock-Based Compensation for the Nine months ended		Unamortized Stock-Based Compensation		Remaining Weighted Average Period (years)
September 30, 2017
Incentive Stock Options	$	80	$	250	$	94		0.3
Restricted Stock		635		2,068		4,475		1.2
Performance Based Restricted Stock		299		920		1,901		2.0
Performance Based Options		249		347		69		0.3
Total	$	1,263	$	3,585	$	6,539
September 30, 2016
Incentive Stock Options	$	71	$	252	$	497		1.2
Restricted Stock		406		1,100		2,545		1.8
Performance Based Restricted Stock		100		240		857		1.4
Performance Based Options		11		64		173		1.2
Total	$	588	$	1,656	$	4,072

Summary of Option Activity

Option activity within each plan is as follows:

	Incentive Stock Option Plans			Weighted Average Price Per Share		Exercisable Weighted Average Price Per Share
Balance outstanding, December 31, 2016		541,905		$	9.33	$	7.97
Options exercised		(15,000	)		7.50		—
Options forfeited		(3,919	)		11.49		—
Balance outstanding, March 31, 2017		522,986			9.37		7.99
Options exercised		(21,300	)		7.50		—
Options forfeited		(3,183	)		11.49		—
Balance outstanding, June 30, 2017		498,503			9.43		8.03
Options exercised		(12,000	)		7.50		—
Options forfeited		(4,285	)		11.49		—
Balance outstanding, September 30, 2017		482,218		$	9.46	$	8.05

Summary of Stock Options Summarized by Exercise Price

Information relating to stock options at September 30, 2017, summarized by exercise price is as follows:

	Outstanding Weighted Average						Exercisable Weighted Average
Exercise Price Per Share	Shares		Remaining Life (Months)		Exercise Price		Shares		Exercise Price
Incentive Stock Option Plan:
$7.50		250,050		38	$	7.5		250,050	$	7.50
$11.32—$14.75		232,168		83		11.58		34,334		12.07
		482,218			$	9.46		284,384	$	8.05

Weighted Average Exercise Prices for Options Granted and Exercisable and Weighted Average Remaining Contractual Life for Options Outstanding

The weighted average exercise prices for options granted, and exercisable, and the weighted average remaining contractual life for options outstanding as of September 30, 2017, were as follows:

As of September 30, 2017	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Months)		Intrinsic Value (thousands)
Incentive Stock Option Plan:
Outstanding		482,218	$	9.46		60	$	6,480
Expected to Vest		480,800	$	9.46		60	$	6,464
Exercisable		284,384	$	8.05		41	$	4,222

Performance Based Stock Options

Summary of Option Activity

Performance option activity is as follows:

	Incentive Stock Option Plans			Weighted Average Price Per Share		Exercisable Weighted Average Price Per Share
Balance outstanding, December 31, 2016 and March 31, 2017		82,334		$	11.49	$	—
Options forfeited		(50	)		11.49		—
Balance outstanding, June 30, 2017		82,284			11.49		—
Options forfeited		(618	)		11.49		—
Balance outstanding, September 30, 2017		81,666		$	11.49	$	—

Performance Incentive Stock Option Plan

Summary of Stock Options Summarized by Exercise Price

Information relating to stock options at September 30, 2017 summarized by exercise price is as follows:

	Outstanding Weighted Average						Exercisable Weighted Average
Exercise Price Per Share	Shares		Remaining Life (Months)		Exercise Price		Shares		Exercise Price
Performance Incentive Stock Option Plan:		81,666		3	$	11.49		—	$	—

Weighted Average Exercise Prices for Options Granted and Exercisable and Weighted Average Remaining Contractual Life for Options Outstanding

The weighted average exercise prices for options granted and exercisable and the weighted average remaining contractual life for options outstanding as of September 30, 2017 are as follows:

As of September 30, 2017	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Months)		Intrinsic Value (thousands)
Performance Incentive Stock Option Plan:
Outstanding		81,666	$	11.49		3	$	932
Expected to Vest		79,814	$	11.49		3	$	911
Exercisable		—	$	—		—	$	—

Common Stock Grants

Summary of Non-Vested Shares

Common stock grants — A summary of non-vested shares as of, and for, the nine months ended September 30, 2017 and 2016 is presented below:

	Nine Months Ended September 30, 2017					Nine Months Ended September 30, 2016
	Number of Shares			Weighted Average Grant Date Fair Value		Number of Shares			Weighted Average Grant Date Fair Value
Nonvested shares at December 31st		324,756		$	14.75		362,841		$	20.43
Granted		251,475			16.10		—			—
Vested		(10,100	)		12.95		(127,274	)		31.29
Forfeited		(6,544	)		15.26		(16,008	)		23.67
Nonvested shares at March 31st		559,587			15.38		219,559			14.59
Granted		38,502			17.08		140,541			15.08
Vested		(188,400	)		15.22		(22,639	)		15.63
Forfeited		(6,593	)		15.55		(6,457	)		14.98
Nonvested shares at June 30th		403,096			15.61		331,004			14.72
Granted		1,000			19.90		1,668			16.75
Vested		(1,065	)		12.88		(2,566	)		19.18
Forfeited		(5,209	)		15.80		(12,822	)		14.98
Nonvested shares at September 30th		397,822		$	15.63		317,284		$	14.69

Performance Based Restricted Shares

Summary of Non-Vested Shares

Performance Based Shares—A summary of non-vested performance based shares as of, and for, the nine months ended September 30, 2017 and 2016, respectively is presented below:

	Nine Months Ended September 30, 2017					Nine Months Ended September 30, 2016
	Number of Shares			Weighted Average Grant Date Fair Value		Number of Shares			Weighted Average Grant Date Fair Value
Nonvested shares at December 31st		119,022		$	14.18		104,403		$	17.05
Granted		121,194			15.40		—			—
Forfeited		—			—		(9,395	)		17.65
Nonvested shares at March 31st		240,216			14.80		95,008			16.99
Granted		7,400			15.88		52,170			14.39
Vested		(48,046	)		14.92		—			—
Forfeited		(12,560	)		12.92		(19,612	)		28.25
Nonvested shares at June 30th		187,010			14.93		127,566			14.20
Forfeited		(953	)		15.21		(8,544	)		14.39
Nonvested shares at September 30th		186,057		$	14.93		119,022		$	14.18

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Accumulated Other Comprehensive Income ("AOCI") (Tables)

9 Months Ended

Sep. 30, 2017

Text Block [Abstract]

Beginning Balance, Annual Activity and Ending Balance of Accumulated Other Comprehensive Loss

The following table lists the beginning balance, annual activity and ending balance of accumulated other comprehensive loss, which consists of foreign currency translation adjustments:

	Total
Balance, December 31, 2016	$	(4,851	)
FX translation		757
Balance, March 31, 2017		(4,094	)
FX translation		280
Balance, June 30, 2017		(3,814	)
FX translation		(67	)
Balance, September 30, 2017	$	(3,881	)

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Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Total gross value	$ 133,028	$ 133,569
Less accumulated depreciation	(83,533)	(83,274)
Total net value	49,495	50,295
Land
Property, Plant and Equipment [Line Items]
Total gross value	2,458	2,458
Buildings and improvements
Property, Plant and Equipment [Line Items]
Total gross value	16,610	15,515
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total gross value	106,641	102,146
Office furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Total gross value	4,701	5,016
Automotive equipment
Property, Plant and Equipment [Line Items]
Total gross value	398	387
Construction in progress
Property, Plant and Equipment [Line Items]
Total gross value	$ 2,220	$ 8,047

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Property, Plant And Equipment - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Property Plant And Equipment [Abstract]
Depreciation expense related to property, plant and equipment	$ 2,033	$ 2,021	$ 6,112	$ 6,334
Elimination of Assets and Accumulated depreciation	$ 1,126	$ 285	$ 5,884	$ 410

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Components of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Finished products	$ 107,966	$ 103,832
Raw materials	15,349	16,744
Total Inventories	$ 123,315	$ 120,576

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Segment Reporting - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2017 Segment
Segment Reporting [Abstract]
Number of reportable business segments	1

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Summary of Business Sales by Product and Geographic Location (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net sales
Net sales	$ 89,975	$ 82,447	$ 238,553	$ 224,645
Insecticides
Net sales
Net sales	24,866	25,478	102,249	89,496
Herbicides/Soil Fumigants/Fungicides
Net sales
Net sales	32,717	34,242	68,783	80,009
Other, Including Plant Growth Regulators
Net sales
Net sales	17,191	13,328	30,680	23,148
Crop
Net sales
Net sales	74,774	73,048	201,712	192,653
Non-Crop
Net sales
Net sales	15,201	9,399	36,841	31,992
US
Net sales
Net sales	65,842	60,033	173,877	161,661
International
Net sales
Net sales	$ 24,133	$ 22,414	$ 64,676	$ 62,984

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Cash Dividend (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Cash dividend declaration date	Sep. 18, 2017	Jun. 08, 2017	Mar. 07, 2017	Dec. 18, 2016
Cash dividend record date	Oct. 05, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 23, 2016
Cash dividend distributed date	Oct. 19, 2017	Jul. 14, 2017	Apr. 14, 2017	Jan. 06, 2017
Cash dividend per share	$ 0.015	$ 0.015	$ 0.015	$ 0.010
Cash dividend paid	$ 439	$ 437	$ 435	$ 289

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Components of Basic and Diluted Earnings Per Share (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Numerator:
Net income attributable to AVD	$ 4,089	$ 2,877	$ 11,845	$ 8,917
Denominator:
Weighted average shares outstanding-basic	29,193	28,957	29,064	28,886
Dilutive effect of stock options and grants	590	539	584	499
Weighted average shares outstanding-assuming dilution	29,783	29,496	29,648	29,385

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Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Stock options excluded from computation of diluted earning per share	0	0	0	0

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Indebtedness - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2017	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016
Debt Instrument [Line Items]
Short term debt		$ 0	$ 0
Senior secured credit facility, maturity date	Jun. 30, 2022
Revolving Line of Credit
Debt Instrument [Line Items]
Available borrowings capacity under credit agreement				$ 95,985,000
Maximum
Debt Instrument [Line Items]
Available borrowings capacity under credit agreement	$ 250,000,000
Consolidated funded debt ratio	325.00%
Maximum | Revolving Line of Credit
Debt Instrument [Line Items]
Capacity to increase borrowings under credit agreement		$ 124,724,000
Maximum | Term Loan
Debt Instrument [Line Items]
Accordion feature	$ 100,000,000
Minimum
Debt Instrument [Line Items]
Consolidated fixed charge covenant ratio	125.00%

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Summary of Revolving Line of Credit (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Revolving line of credit	$ 58,375	$ 41,400
Deferred loan fees	(996)	(449)
Net long-term debt	$ 57,379	$ 40,951

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Unamortized Stock-Based Compensation Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-Based Compensation	$ 1,263	$ 588	$ 3,585	$ 1,656
Unamortized Stock-Based Compensation	6,539	4,072	6,539	4,072
Incentive Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-Based Compensation	80	71	$ 250	$ 252
Remaining Weighted Average Period (years)			3 months 19 days	1 year 2 months 12 days
Unamortized Stock-Based Compensation	94	497	$ 94	$ 497
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-Based Compensation	635	406	$ 2,068	$ 1,100
Remaining Weighted Average Period (years)			1 year 2 months 13 days	1 year 9 months 18 days
Unamortized Stock-Based Compensation	4,475	2,545	$ 4,475	$ 2,545
Performance Based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-Based Compensation	299	100	$ 920	$ 240
Remaining Weighted Average Period (years)			2 years	1 year 4 months 24 days
Unamortized Stock-Based Compensation	1,901	857	$ 1,901	$ 857
Performance Based Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-Based Compensation	249	11	$ 347	$ 64
Remaining Weighted Average Period (years)			3 months 19 days	1 year 2 months 12 days
Unamortized Stock-Based Compensation	$ 69	$ 173	$ 69	$ 173

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Stock Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employees options granted	0						0
Stock-based compensation	$ 1,263			$ 588			$ 3,585	$ 1,656
Number of shares granted to employees and directors							290,977
Number of shares vested							24,312
Number of shares expected to vest	3,900						3,900
Number of years of service before cliff vesting							3 years
Weighted Average Grant-Date Fair Value, Granted							$ 16.24
Performance Based Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 249			11			$ 347	$ 64
Nonvested unamortized stock-based compensation expense, value	$ 69						$ 69
Remaining Weighted Average Period (years)							3 months 19 days
Number of shares granted to employees and directors							0	0
Targeted performance percentage	200.00%						200.00%
Target performance percentage to meet performance measure based on net sales							200.00%
After One Year
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares expected to vest	1,000						1,000
After Two Year
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares expected to vest	2,500						2,500
Incentive Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 80			71			$ 250	$ 252
Nonvested unamortized stock-based compensation expense, value	94			497			$ 94	$ 497
Remaining Weighted Average Period (years)							3 months 19 days	1 year 2 months 12 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 635			$ 406			$ 2,068	$ 1,100
Remaining Weighted Average Period (years)							1 year 2 months 13 days	1 year 9 months 18 days
Number of shares granted to employees and directors	1,000	38,502	251,475	1,668	140,541
Number of shares vested	1,065	188,400	10,100	2,566	22,639	127,274		21,139
Number of years of service before cliff vesting								3 years
Weighted Average Grant-Date Fair Value, Granted	$ 19.90	$ 17.08	$ 16.10	$ 16.75	$ 15.08			$ 15.10
Shares issued by equity investee								142,209
Unamortized Stock-Based Compensation	$ 4,475			$ 2,545			$ 4,475	$ 2,545
Restricted Stock | After Three Year of Services.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares expected to vest				121,070				121,070
Performance Based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	299			$ 100			$ 920	$ 240
Remaining Weighted Average Period (years)							2 years	1 year 4 months 24 days
Number of shares granted to employees and directors		7,400	121,194		52,170		128,594	52,170
Number of shares vested		48,046
Weighted Average Grant-Date Fair Value, Granted		$ 15.88	$ 15.40		$ 14.39		$ 15.43
Unamortized Stock-Based Compensation	$ 1,901			$ 857			$ 1,901	$ 857
Targeted performance percentage	200.00%			200.00%			200.00%	200.00%
Performance Based Restricted Stock | Vested on February 8, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cliff vesting date							Feb. 08, 2020	Jan. 06, 2019
Performance Based Restricted Stock | Performance based stock options based upon financial performance of earnings before interest and tax ("EBIT") and net sales goal for the period commencing January 1, 2017 through December 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares vesting based on Performance							80.00%
Earnings before income taxes goal weight, percentage							50.00%
Net sales goal weight, percentage							30.00%
Performance Based Restricted Stock | Performance Based Shares Based Upon AVD Stock Price Appreciation Over the Course of the Period Commencing January 1, 2017 through December 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Earnings before income taxes goal weight, percentage							20.00%
Performance Based Restricted Stock | Performance based stock options based upon financial performance of earnings before interest and tax ("EBIT") and net sales goal for the period commencing January 1, 2016 and ending December 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares vesting based on Performance								80.00%
Earnings before income taxes goal weight, percentage								50.00%
Net sales goal weight, percentage								30.00%
Performance Based Restricted Stock | Performance based stock options based upon AVD stock price appreciation over the course of the period commencing January 1, 2016 and ending December 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Earnings before income taxes goal weight, percentage								20.00%
Performance Based Restricted Stock | Performance Based Shares Related to Net Income Weighted at 50%, Net Sales Weighted at 30%, Commencing January 1, 2017 and Ending December 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Grant-Date Fair Value, Granted							$ 16.10
Performance Based Restricted Stock | Remaining 20% of Performance Based Shares are Based Upon AVD Stock Price Appreciation for the Period Commencing January 1, 2017 and Ending December 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Grant-Date Fair Value, Granted							$ 12.60

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Summary of Option Activity (Detail) - Incentive Stock Options - $ / shares	3 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive Stock Option Plans, Beginning balance	498,503	522,986	541,905
Incentive Stock Option Plans, Option exercised	(12,000)	(21,300)	(15,000)
Incentive Stock Option Plans, Option forfeited	(4,285)	(3,183)	(3,919)
Incentive Stock Option Plans, Ending balance	482,218	498,503	522,986
Weighted Average Price Per Share, Beginning balance	$ 9.43	$ 9.37	$ 9.33
Weighted Average Price Per Share, Option exercised	7.50	7.50	7.50
Weighted Average Price Per Share, Option forfeited	11.49	11.49	11.49
Weighted Average Price Per Share, Ending balance	9.46	9.43	9.37
Exercisable Weighted Average Price Per Share, Beginning balance	8.03	7.99	7.97
Exercisable Weighted Average Price Per Share, Ending balance	$ 8.05	$ 8.03	$ 7.99

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Summary of Stock Options Summarized by Exercise Price (Detail) - Incentive Stock Options - $ / shares	9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Weighted Average, Shares	482,218
Outstanding Weighted Average, Exercise Price	$ 9.46	$ 9.43	$ 9.37	$ 9.33
Exercisable Weighted Average, Shares	284,384
Exercisable Weighted Average, Exercise Price	$ 8.05	$ 8.03	$ 7.99	$ 7.97
Range One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share, Lower Range	$ 7.50
Outstanding Weighted Average, Shares	250,050
Outstanding Weighted Average, Remaining Life (Months)	38 months
Outstanding Weighted Average, Exercise Price	$ 7.5
Exercisable Weighted Average, Shares	250,050
Exercisable Weighted Average, Exercise Price	$ 7.50
Range Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share, Lower Range	11.32
Exercise Price Per Share, Upper Range	$ 14.75
Outstanding Weighted Average, Shares	232,168
Outstanding Weighted Average, Remaining Life (Months)	83 months
Outstanding Weighted Average, Exercise Price	$ 11.58
Exercisable Weighted Average, Shares	34,334
Exercisable Weighted Average, Exercise Price	$ 12.07

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Weighted Average Exercise Prices for Options Granted and Exercisable and Weighted Average Remaining Contractual Life for Options Outstanding (Detail) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2017 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Expected to Vest	3,900
Incentive Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding	482,218
Number of Shares, Expected to Vest	480,800
Number of Shares, Exercisable	284,384
Weighted Average Exercise Price, Outstanding | $ / shares	$ 9.46
Weighted Average Exercise Price, Expected to Vest | $ / shares	9.46
Weighted Average Exercisable, Exercise Price | $ / shares	$ 8.05
Weighted Average Remaining Life, Outstanding	60 months
Weighted Average Remaining Contractual Life, Expected to Vest	60 months
Weighted Average Remaining Contractual Life, Exercisable	41 months
Intrinsic Value, Outstanding | $	$ 6,480
Intrinsic Value, Expected to Vest | $	6,464
Intrinsic Value, Exercisable | $	$ 4,222

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Summary of Non-Vested Shares (Detail) - $ / shares	3 Months Ended						9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted							290,977
Number of Shares, Vested							(24,312)
Weighted Average Grant-Date Fair Value, Granted							$ 16.24
Common Stock Grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Beginning balance	403,096	559,587	324,756	331,004	219,559	362,841	324,756	362,841
Number of Shares, Granted	1,000	38,502	251,475	1,668	140,541
Number of Shares, Vested	(1,065)	(188,400)	(10,100)	(2,566)	(22,639)	(127,274)		(21,139)
Number of Shares, Forfeited	(5,209)	(6,593)	(6,544)	(12,822)	(6,457)	(16,008)
Number of Shares, Ending Balance	397,822	403,096	559,587	317,284	331,004	219,559	397,822	317,284
Weighted Average Grant-Date Fair Value, Beginning balance	$ 15.61	$ 15.38	$ 14.75	$ 14.72	$ 14.59	$ 20.43	$ 14.75	$ 20.43
Weighted Average Grant-Date Fair Value, Granted	19.90	17.08	16.10	16.75	15.08			15.10
Weighted Average Grant-Date Fair Value, Vested	12.88	15.22	12.95	19.18	15.63	31.29
Weighted Average Grant-Date Fair Value, Forfeited	15.80	15.55	15.26	14.98	14.98	23.67
Weighted Average Grant-Date Fair Value, Ending balance	$ 15.63	$ 15.61	$ 15.38	$ 14.69	$ 14.72	$ 14.59	$ 15.63	$ 14.69

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Status Summary of Non-Vested Shares (Detail) - $ / shares	3 Months Ended						9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted							290,977
Number of Shares, Vested							(24,312)
Weighted Average Grant-Date Fair Value, Granted							$ 16.24
Performance Based Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Beginning balance	187,010	240,216	119,022	127,566	95,008	104,403	119,022	104,403
Number of Shares, Granted		7,400	121,194		52,170		128,594	52,170
Number of Shares, Vested		(48,046)
Number of Shares, Forfeited	(953)	(12,560)		(8,544)	(19,612)	(9,395)
Number of Shares, Ending Balance	186,057	187,010	240,216	119,022	127,566	95,008	186,057	119,022
Weighted Average Grant-Date Fair Value, Beginning balance	$ 14.93	$ 14.80	$ 14.18	$ 14.20	$ 16.99	$ 17.05	$ 14.18	$ 17.05
Weighted Average Grant-Date Fair Value, Granted		15.88	15.40		14.39		15.43
Weighted Average Grant-Date Fair Value, Vested		14.92
Weighted Average Grant-Date Fair Value, Forfeited	15.21	12.92		14.39	28.25	17.65
Weighted Average Grant-Date Fair Value, Ending balance	$ 14.93	$ 14.93	$ 14.80	$ 14.18	$ 14.20	$ 16.99	$ 14.93	$ 14.18

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Summary of Performance option activity (Detail) - Performance Based Stock Options - $ / shares	3 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive Stock Option Plans, Beginning balance	82,284	82,334	82,334
Incentive Stock Option Plans, Option forfeited	(618)	(50)
Incentive Stock Option Plans, Ending balance	81,666	82,284	82,334
Weighted Average Price Per Share, Beginning balance	$ 11.49	$ 11.49	$ 11.49
Weighted Average Price Per Share, Option forfeited	11.49	11.49
Weighted Average Price Per Share, Ending balance	$ 11.49	$ 11.49	$ 11.49

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Performance Options Summarized by Exercise Price (Detail) - Performance Incentive Stock Option Plan	9 Months Ended
	Sep. 30, 2017 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Weighted Average, Shares | shares	81,666
Outstanding Weighted Average, Remaining Life (Months)	3 months
Outstanding Weighted Average, Exercise Price | $ / shares	$ 11.49

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Performance Option Weighted Average Exercise Prices for Options Granted and Exercisable and Weighted Average Remaining Contractual Life for Options Outstanding (Detail) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2017 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Expected to Vest	3,900
Performance Incentive Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding	81,666
Number of Shares, Expected to Vest	79,814
Weighted Average Exercise Price, Outstanding | $ / shares	$ 11.49
Weighted Average Exercise Price, Expected to Vest | $ / shares	$ 11.49
Weighted Average Remaining Life, Outstanding	3 months
Weighted Average Remaining Contractual Life, Expected to Vest	3 months
Intrinsic Value, Outstanding | $	$ 932
Intrinsic Value, Expected to Vest | $	$ 911

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Legal Proceedings - Additional Information (Detail) $ in Thousands		1 Months Ended
	Mar. 29, 2016 Case	Jan. 31, 2017 USD ($) Case
Harold Reed v. AMVAC et al.
Loss Contingencies [Line Items]
Number of lawsuits filed | Case	2
Reed
Loss Contingencies [Line Items]
Loss contingency damages sought, value		$ 250
Jem Holdings
Loss Contingencies [Line Items]
Loss contingency damages sought, value		$ 60
Cross Claims
Loss Contingencies [Line Items]
Number of lawsuits filed | Case		4
Van Giessen Growers, Inc.
Loss Contingencies [Line Items]
Loss contingency estimate of possible loss		$ 400
Chin Coulee Farms
Loss Contingencies [Line Items]
Loss contingency estimate of possible loss		530
Houweling Farms
Loss Contingencies [Line Items]
Loss contingency estimate of possible loss		$ 4,300

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Beginning Balance, Annual Activity and Ending Balance of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 291,574	$ 287,475	$ 282,357		$ 282,357
Foreign currency translation adjustment	(67)	280	757	$ (436)	970	$ (888)
Balance	296,743	291,574	287,475		296,743
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(3,814)	(4,094)	(4,851)		(4,851)
Foreign currency translation adjustment	(67)	280	757
Balance	$ (3,881)	$ (3,814)	$ (4,094)		$ (3,881)

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Equity Method Investments - Additional Information (Detail) - USD ($)			3 Months Ended		9 Months Ended
	Jul. 07, 2017	Jun. 27, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Equity Method Investments [Line Items]
Loss from equity method investment			$ (115,000)	$ (180,000)	$ (226,000)	$ (309,000)
Investment		$ 950,000			$ 950,000	3,283,000
Profeng Australia, Pty Ltd
Equity Method Investments [Line Items]
Joint venture, consideration	$ 1,900,000
TyraTech Inc.
Equity Method Investments [Line Items]
Equity investment ownership position			15.11%		15.11%
Loss from equity method investment			$ (29,000)	(180,000)	$ (140,000)	(309,000)
Carrying value of equity investment			2,044,000		2,044,000
Quoted market value of equity investment			$ 1,210,000		$ 1,210,000
Hong Kong Joint Venture
Equity Method Investments [Line Items]
Equity investment ownership position			50.00%		50.00%
Loss from equity method investment			$ (86,000)	$ 0	$ (86,000)	$ 0

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Cost Method Investment - Additional Information (Detail) - Bi-PA	9 Months Ended
	Sep. 30, 2017 USD ($)
Schedule of Cost-method Investments [Line Items]
Cost method ownership percentage	15.00%
Carrying value of cost method investment	$ 3,283,000
Cost-method Investments, Impairment	$ 0

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Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 03, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Income Taxes [Line Items]
Increase in income tax expense		$ 576
Income tax expense		$ 1,954	$ 1,378	$ 5,015	$ 3,672
Effective tax rate		32.10%	31.30%	29.20%	27.90%
Internal Revenue Service
Income Taxes [Line Items]
Amount paid to IRS	$ 11,580
Deferred Tax Assets And Income Taxes Payable
Income Taxes [Line Items]
Prior period reclassification adjustment						$ 12,598
State and Local Jurisdiction | Minimum
Income Taxes [Line Items]
Income Tax Examination Period				2012
State and Local Jurisdiction | Maximum
Income Taxes [Line Items]
Income Tax Examination Period				2015
ASU 2016-09
Income Taxes [Line Items]
Discrete tax benefit				$ (333)

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Acquisitions - Additional Information (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2017 USD ($) Business
Business Acquisition [Line Items]
Number of business acquisitions | Business	2
Acquisitions of intangible assets	$ 25,100
Syngenta AG
Business Acquisition [Line Items]
Business acquisition completed date	Aug. 22, 2017
Product Rights
Business Acquisition [Line Items]
Business combination, preliminary allocation purchase price of intangible assets	$ 22,000
Trademarks
Business Acquisition [Line Items]
Business combination, preliminary allocation purchase price of intangible assets	1,900
Customer Lists
Business Acquisition [Line Items]
Business combination, preliminary allocation purchase price of intangible assets	$ 1,200

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Subsequent Events - Additional Information (Detail) - USD ($) $ in Thousands		9 Months Ended
	Oct. 27, 2017	Sep. 30, 2017
Subsequent Event
Subsequent Event [Line Items]
Business acquisition of cash consideration	$ 41,750
OHP, Inc.
Subsequent Event [Line Items]
Business acquisition completed date		Oct. 02, 2017
Grupo Agricenter
Subsequent Event [Line Items]
Business acquisition completed date		Oct. 27, 2017