Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Aug. 03, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | AVALON HOLDINGS CORP | |
Entity Central Index Key | 1,061,069 | |
Trading Symbol | awx | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Common Class B [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding (in shares) | 612,231 | |
Common Class A [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding (in shares) | 3,191,100 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net operating revenues: | ||||
Operating revenues | $ 16,705 | $ 14,577 | $ 28,221 | $ 25,279 |
Costs and expenses: | ||||
Depreciation and amortization expense | 726 | 761 | 1,455 | 1,509 |
Selling, general and administrative expenses | 2,215 | 2,063 | 4,440 | 4,065 |
Operating income (loss) | 596 | 109 | (188) | (792) |
Other income (expense): | ||||
Interest expense | (174) | (177) | (345) | (352) |
Other income, net | 113 | 109 | 173 | 186 |
Income (loss) before income taxes | 535 | 41 | (360) | (958) |
Provision for income taxes | 41 | 32 | 60 | 52 |
Net income (loss) | 494 | 9 | (420) | (1,010) |
Less net loss attributable to non-controlling interest in subsidiary | (129) | (112) | (244) | (205) |
Net income (loss) attributable to Avalon Holdings Corporation common shareholders | $ 623 | $ 121 | $ (176) | $ (805) |
Income (loss) per share attributable to Avalon Holdings Corporation common shareholders: | ||||
Basic net income (loss) per share (in dollars per share) | $ 0.16 | $ 0.03 | $ (0.05) | $ (0.21) |
Diluted net income (loss) per share (in dollars per share) | $ 0.16 | $ 0.03 | $ (0.05) | $ (0.21) |
Weighted average shares outstanding - basic (in shares) | 3,803,000 | 3,803,000 | 3,803,331 | 3,803,331 |
Weighted average shares outstanding - diluted (in shares) | 3,817,781 | 3,826,920 | 3,803,000 | 3,803,000 |
Waste Management Services [Member] | ||||
Net operating revenues: | ||||
Operating revenues | $ 11,510 | $ 9,490 | $ 19,968 | $ 17,103 |
Costs and expenses: | ||||
Operating costs | 9,090 | 7,533 | 15,752 | 13,427 |
Golf and Related Operations [Member] | ||||
Net operating revenues: | ||||
Operating revenues | 5,195 | 5,087 | 8,253 | 8,176 |
Costs and expenses: | ||||
Operating costs | 3,146 | 3,150 | 5,363 | 5,556 |
Golf and Related Operations [Member] | Food and Beverage [Member] | ||||
Net operating revenues: | ||||
Operating revenues | 2,206 | 2,270 | 3,246 | 3,376 |
Costs and expenses: | ||||
Operating costs | 932 | 961 | 1,399 | 1,514 |
Golf and Related Operations [Member] | Product and Service, Other [Member] | ||||
Net operating revenues: | ||||
Operating revenues | $ 2,989 | $ 2,817 | $ 5,007 | $ 4,800 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and cash equivalents | $ 2,409 | $ 1,025 |
Accounts receivable, less allowance for doubtful accounts of $263 in 2018 and $237 in 2017 | 11,046 | 9,906 |
Unbilled membership dues receivable | 1,009 | 580 |
Inventories | 1,010 | 850 |
Prepaid expenses | 378 | 512 |
Other current assets | 26 | 34 |
Total current assets | 15,878 | 12,907 |
Property and equipment, net | 43,992 | 43,215 |
Leased property under capital leases, net | 6,311 | 6,360 |
Restricted cash | 1,326 | 2,826 |
Noncurrent deferred tax asset | 8 | 8 |
Other assets, net | 56 | 62 |
Total assets | 67,571 | 65,378 |
Liabilities and Equity | ||
Current portion of obligations under capital leases | 231 | 212 |
Current portion of long-term debt | 562 | 547 |
Accounts payable | 9,131 | 7,832 |
Accrued payroll and other compensation | 1,050 | 739 |
Accrued income taxes | 31 | 26 |
Other accrued taxes | 242 | 372 |
Deferred membership dues revenue | 4,034 | 2,718 |
Other liabilities and accrued expenses | 734 | 658 |
Total current liabilities | 16,015 | 13,104 |
Long-term debt, net of current portion | 10,460 | 10,745 |
Obligations under capital leases, net of current portion | 841 | 857 |
Asset retirement obligation | 100 | 100 |
Equity: | ||
Paid-in capital | 58,968 | 58,965 |
Accumulated deficit | (20,733) | (20,557) |
Total Avalon Holdings Corporation Shareholders' Equity | 38,273 | 38,446 |
Non-controlling interest in subsidiary | 1,882 | 2,126 |
Total equity | 40,155 | 40,572 |
Total liabilities and equity | 67,571 | 65,378 |
Common Class A [Member] | ||
Equity: | ||
Common Stock, $.01 par value | 32 | 32 |
Common Class B [Member] | ||
Equity: | ||
Common Stock, $.01 par value | $ 6 | $ 6 |
Condensed Consolidated Balance4
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Accounts receivable, allowance for doubtful accounts | $ 263 | $ 237 |
Common Class A [Member] | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common Class B [Member] | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Condensed Consolidated Stateme5
Condensed Consolidated Statement of Shareholders' Equity (Unaudited) - 6 months ended Jun. 30, 2018 - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member]Common Class A [Member] | Common Stock [Member]Common Class B [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Parent [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 3,191 | 612 | |||||
Balance at Dec. 31, 2017 | $ 32 | $ 6 | $ 58,965 | $ (20,557) | $ 38,446 | $ 2,126 | $ 40,572 |
Stock options - compensation costs | 3 | 3 | 3 | ||||
Net loss | (176) | (176) | (244) | (420) | |||
Balance (in shares) at Jun. 30, 2018 | 3,191 | 612 | |||||
Balance at Jun. 30, 2018 | $ 32 | $ 6 | $ 58,968 | $ (20,733) | $ 38,273 | $ 1,882 | $ 40,155 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash flows from operating activities: | ||
Net loss | $ (420) | $ (1,010) |
Reconciliation of net loss to cash provided by operating activities: | ||
Depreciation and amortization expense | 1,455 | 1,509 |
Amortization of debt issuance costs | 16 | 10 |
Compensation costs - stock options | 3 | 7 |
Deferred rental income | (43) | |
Provision for losses on accounts receivable | 23 | 6 |
Gain from disposal of vehicle | (16) | |
Change in operating assets and liabilities: | ||
Accounts receivable | (1,163) | 1,974 |
Unbilled membership dues receivable | (429) | (530) |
Inventories | (160) | (232) |
Prepaid expenses | 134 | 152 |
Refundable income taxes | (1) | |
Other assets | 9 | (18) |
Accounts payable | 1,168 | (2,703) |
Accrued payroll and other compensation | 311 | 284 |
Accrued income taxes | 5 | (48) |
Other accrued taxes | (143) | (223) |
Deferred membership dues revenue | 1,296 | 1,451 |
Other liabilities and accrued expenses | 76 | 133 |
Net cash provided by operating activities | 2,165 | 718 |
Cash flows from investing activities: | ||
Capital expenditures | (670) | (1,027) |
Acquisition of Boardman Tennis Center facility | (1,269) | |
Proceeds from disposal of vehicle | 16 | |
Net cash used in investing activities | (1,923) | (1,027) |
Cash flows from financing activities: | ||
Payments of debt issuance costs | (5) | (42) |
Principal payments on term loan facility | (279) | (265) |
Principal payments on capital lease obligations | (74) | (87) |
Net cash used in financing activities | (358) | (394) |
Decrease in cash, cash equivalents and restricted cash | (116) | (703) |
Cash, cash equivalents and restricted cash at beginning of period | 3,851 | 5,204 |
Cash, cash equivalents and restricted cash at end of period | 3,735 | 4,501 |
Significant non-cash operating and investing activities: | ||
Capital expenditures included in accounts payable | 131 | |
Significant non-cash investing and financing activities: | ||
Capital lease obligations incurred | 77 | 630 |
Cash paid during the period for interest | 329 | 343 |
Cash paid during the period for income taxes | $ 55 | $ 104 |
Note 1 - Description of Busines
Note 1 - Description of Business | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | Note 1. Avalon Holdings Corporation (“Avalon” or the “Company”) was formed on April 30, 1998 June 17, 1998, Avalon provides waste management services to industrial, commercial, municipal and governmental customers in selected northeastern and midwestern U.S. markets, captive landfill management services and salt water injection well operations. In addition, Avalon owns Avalon Clubs and Resorts, Inc. (“ACRI”), which includes the operation and management of three |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | Note 2. The unaudited condensed consolidated financial statements of Avalon and related notes included herein have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted consistent with such rules and regulations. The accompanying unaudited condensed consolidated financial statements and related notes should be read in conjunction with the consolidated financial statements and related notes included in Avalon’s 2017 The unaudited condensed consolidated financial statements include the accounts of Avalon, its wholly owned subsidiaries and those companies in which Avalon has managerial control. All significant intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, these unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the financial position of Avalon as of June 30, 2018, The operating results for the interim periods are not Presentation Revision To comply with SEC Regulation S- X, 5 03, not three six June 30, 2017. not |
Note 3 - Recent Accounting Pron
Note 3 - Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 3. Adopted Accounting Standards In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09” 2014 09 2014 09 five March 2016, 2016 08, Revenue from Contracts with Customers (Topic 606 January 1, 2018, 2014 09 2016 08, not not June 30, 2018 December 31, 2017 six June 30, 2018 2017. not 5 In August 2016, 2016 15, Classification of Certain Cash Receipts and Cash Payments 2016 15” zero 2016 15 one January 1, 2018, 2016 15. not In November 2016, 2016 18, Statement of Cash Flows: Restricted Cash 2016 18” January 1, 2018, 2016 18. 2016 18 not 4 In January 2017, 2017 01, Business Combinations 805 : Clarifying the Definition of a Business 2017 01” 2017 01 2017 01 January 1, 2018. March 2018, 2017 01 16 In March 2018, 2018 05, 740 Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 2018 05" 2018 05 December 22, 2017 2018 05 one 2018 05 March 2018. may Accounting Standards Not In February 2016, 2016 02, Leases 12 December 15, 2018, In June 2016, 2016 13, Measurement of Credit Losses on Financial Instruments 2016 13” 2016 13 January 1, 2020, January 1, 2019. not |
Note 4 - Cash, Cash Equivalents
Note 4 - Cash, Cash Equivalents and Restricted Cash | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | Note 4 . Cash, Cash Equivalents and Restricted Cash The Company considers all highly liquid investments with a maturity of three may, not not Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements are recorded in restricted cash on the Condensed Consolidated Balance Sheets. Restricted cash consists of loan proceeds deposited into a project fund account to fund costs associated with the renovation and expansion of The Avalon Inn in accordance with the provisions of the loan and security agreement (See Note 9 In the first 2018, $1.5 2017 $1.3 16 The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Condensed Consolidated Statements of Cash Flows. Cash, cash equivalents and restricted cash consist of the following at June 30, 2018 December 31, 2017 ( June 30, December 31, 2018 2017 Cash and cash equivalents $ 2,409 $ 1,025 Restricted cash 1,326 2,826 Cash, cash equivalents and restricted cash $ 3,735 $ 3,851 |
Note 5 - Revenues
Note 5 - Revenues | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 5 . Revenues Adoption of ASC Topic 606, On January 1, 2018, 606, Revenue from Contracts with Customers 606” not 605. 606, no 606 not not June 30, 2018 December 31, 2017 six June 30, 2018 2017. Revenue Recognition The Company identifies a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Revenue is recognized when obligations under the terms of the contract with our customer are satisfied; generally this occurs with the transfer of control of the good or service to the customer. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. Sales and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. The Company does not not Waste Management Services Avalon’s waste management services provide hazardous and nonhazardous waste brokerage and management services, captive landfill management services and salt water injection well operations. Waste management services are provided to industrial, commercial, municipal and governmental customers primarily in selected northeastern and midwestern United States markets. Avalon’s waste brokerage and management business assists customers with managing and disposing of wastes at approved treatment and disposal sites based upon a customer’s needs. Avalon provides a service to its customers whereby Avalon, arrange for, and accept responsibility for the removal, transportation and disposal of waste on behalf of the customer. Avalon’s landfill management business provides technical and operational services to customers owning captive disposal facilities. A captive disposal facility only disposes of waste generated by the owner of such facility. The Company provides turnkey services, including daily operations, facilities management and management reporting for its customers. Currently, Avalon manages one Avalon is a minority owner with managerial control over two 15 no three June 30, 2018 2017. For the three June 30, 2018 2017, 69% 65%, six June 30, 2018 2017, 71% 68%, For our waste management services contracts, the customer contracts with us to provide a series of distinct waste management services over time which integrates a set of tasks (i.e. removal, transportation and disposal of waste) into a single project. Avalon provides substantially the same service over time and the same method is used to measure the Company’s progress toward complete satisfaction of the performance obligation to transfer each distinct service in the series to the customer. The series of distinct waste management services, which are the same over time, meets the series provision criteria, and as such, the Company treats that series as a single performance obligation. The Company allocates the transaction price to the single performance obligation and recognizes revenue by applying a single measure of progress to that performance obligation. Avalon transfers control of the service over time and, therefore, satisfies the performance obligation and recognizes the revenue over time as the customer simultaneously receives and consumes the benefits provided by Avalon’s performance as we perform. In addition, as the promise to provide services qualifies as a series accounted for as a single performance obligation, the Company applied the practical expedient guidance that allows an entity that is recognizing revenue over time by using an output method to recognize revenue equal to the amount that the entity has the right to invoice if the invoiced amount corresponds directly to the value transferred to the customer. The Company applied the standard's practical expedient that permits the omission of disclosures relating to unsatisfied performance obligations as most of the Company’s waste management service contracts (i) have an original expected length of one Avalon evaluated whether we are the principal (i.e. report revenues on a gross basis) or agent (i.e. report revenues on a net basis). Avalon reports waste management services on a gross basis, that is, amounts billed to our customers are recorded as revenues, and amounts paid to vendors for providing those services are recorded as operating costs. As principal, Avalon is primarily responsible for fulfilling the promise to provide the waste management service for the customer. Avalon accepts credit risk in the event of nonpayment by the customer and is obligated to pay vendors who provide the service regardless of whether the customer pays the Company. Avalon does have a level of discretion in establishing the pricing for its service. Our payment terms vary by the type and location of our customer and the service offered. Avalon does not not The Company assesses each contract amendment individually. Typically, amendments made to our contracts do not not Consideration promised in our waste management contracts do not no Golf and Related Operations Avalon’s golf and related operations include the operation and management of three first three 2018 2017. For the three June 30, 2018 2017, 31% 35%, six June 30, 2018 2017, 29% 32%, For Avalon’s golf and related operations, the Avalon Golf and Country Club offers membership packages for use of the country club facilities and its related amenities. Membership agreements are a one not Membership for the Avalon Golf and Country Club does not not no not Under the terms of the contract, Avalon will provide unlimited use and access to the country club facilities. Avalon’s performance obligation in the contract is the “stand ready obligation” to provide access to these facilities for the member for the entire membership term. Avalon providing the “stand ready obligation” for use of the facilities to the member over the entire term of the membership agreement represents a single performance obligation of which Avalon expects the member to receive and consume the benefits of its obligation throughout the membership term, and as such, the Company recognizes membership dues on a straight line basis over the term of the contract. The Company applied the standard's practical expedient that permits the omission of disclosures relating to unsatisfied performance obligations for contracts with an original expected length of one one For our hotel operations, Avalon’s performance obligation is to provide lodging facilities. The separate components of providing these services (hotel room, toiletry items, housekeeping, and amenities) are not For food, beverage, and merchandise sales, greens fees and associated cart rental, fitness activities, spa services and other ancillary services, the transaction price is the set price charged by the Company for those goods or services. Upon purchase of the good or service, the Company transfers control of the good or service to the customer and the customer immediately consumes the benefits of the Company’s performance and, as such, we recognize revenue at the point of sale. The following table presents our net operating revenues disaggregated by revenue source (in thousands, unaudited). The comparative information for the three six June 30, 2017 not Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Waste management and brokerage services $ 10,895 $ 8,916 $ 18,770 $ 16,009 Captive landfill management operations 615 574 1,198 1,094 Total waste management services revenues 11,510 9,490 19,968 17,103 Food, beverage and merchandise sales 2,206 2,270 3,246 3,376 Membership dues revenue 1,307 1,294 2,593 2,596 Room rental revenue 666 572 1,042 880 Greens fees and cart rental revenue 557 534 595 576 Other revenue 459 417 777 748 Total golf and related operations revenue 5,195 5,087 8,253 8,176 Total net operating revenues $ 16,705 $ 14,577 $ 28,221 $ 25,279 Avalon does not not Receivables, Net Receivables, net, include amounts billed and currently due from customers. The amounts due are stated at their net realizable value. The Company maintains an allowance for doubtful accounts to provide for the estimated amount of receivables that will be collected. Customer accounts that are outstanding longer than the contractual payment terms are considered past due. Avalon determines its allowance by considering a number of factors, including the length of time trade accounts receivable are past due, Avalon’s previous accounts receivable loss history, the customer’s current ability to pay its obligation to Avalon and the condition of the general economy and the industry as a whole. Avalon writes off accounts receivable when they become uncollectible. Payments subsequently received on such receivables are credited to the allowance for doubtful accounts, or to income, as appropriate under the circumstances. The allowance for doubtful accounts was approximately $0.3 June 30, 2018 $0.2 December 31, 2017. June 30, 2018 December 31, 2017, no one 10% Contract Assets Contract assets include unbilled membership dues receivables related to the Avalon Golf and Country Club for the customers membership commitment which are billed on a monthly basis over the course of the annual agreement. Such amounts are stated at their net realizable value. Contract assets related to unbilled membership dues are classified as current as revenue related to such agreements is recognized within the annual membership period. Unbilled membership receivables in our Condensed Consolidated Balance Sheets at June 30, 2018 December 31, 2017 $1.0 $0.6 The following table presents changes in our contract assets during the three six June 30, 2018 ( Unbilled Balance at Membership Balance at Beginning of Period Dues Billings End of Period Three months ended June 30, 2018 Contract Assets: Unbilled membership dues receivable $ 694 $ 832 $ (517 ) $ 1,009 Six months ended June 30, 2018 Contract Assets: Unbilled membership dues receivable $ 580 $ 1,412 $ (983 ) $ 1,009 Contract Liabilities Contract liabilities include unrecognized or deferred revenues relating to membership dues. We record deferred revenue when cash payments are received in advance of satisfying our performance obligation. We classify deferred revenue as current based on the timing of when we expect to recognize revenue for the membership commitment based on the Company satisfying the stand ready performance obligation throughout the annual membership period. The unrecognized or deferred revenues related to membership dues in our Condensed Consolidated Balance Sheets at June 30, 2018 December 31, 2017 $4.0 $2.7 The following table presents changes in our contract liabilities during the three six June 30, 2018 ( Balance at Revenue Balance at Beginning of Period Billings Recognized End of Period Three months ended June 30, 2018 Contract Liabilities: Deferred membership dues revenue $ 3,147 $ 2,194 $ (1,307 ) $ 4,034 Six months ended June 30, 2018 Contract Liabilities: Deferred membership dues revenue $ 2,718 $ 3,909 $ (2,593 ) $ 4,034 |
Note 6 - Property and Equipment
Note 6 - Property and Equipment | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 6 . Property and Equipment Property and equipment is stated at cost and depreciated using the straight-line method over the estimated useful life of the asset which varies from 10 30 5 50 3 10 Major additions and improvements are charged to the property and equipment accounts while replacements, maintenance and repairs, which do not Property and equipment at June 30, 2018 December 31, 2017 June 30, December 31, 2018 2017 Land and land improvements $ 14,492 $ 14,318 Buildings and improvements 36,280 34,721 Machinery and equipment 9,220 9,151 Office furniture and fixtures 6,422 6,301 Vehicles 467 467 Construction in progress 349 294 67,230 65,252 Less accumulated depreciation and amortization (23,238 ) (22,037 ) Property and equipment, net $ 43,992 $ 43,215 At June 30, 2018, not |
Note 7 - Capital Leased Assets
Note 7 - Capital Leased Assets | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Debt and Capital Leases Disclosures [Text Block] | Note 7 . Capital Leased Assets In November 2003, ten 10 four 4 ten 10 $15,000 $150,000 $150,000 In 2018 2017, $0.8 June 30, 2018 December 31, 2017. In addition, during 2017, $0.1 June 30, 2018 December 31, 2017. Leased property under capital leases at June 30, 2018 December 31, 2017 June 30, December 31, 2018 2017 Leased property under capital leases $ 11,537 $ 11,361 Less accumulated amortization (5,226 ) (5,001 ) Leased property under capital leases, net $ 6,311 $ 6,360 |
Note 8 - Basic and Diluted Net
Note 8 - Basic and Diluted Net Income (Loss) Per Share | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 8 . Basic and Diluted Net Income ( Loss ) p er Share Basic net income (loss) per share attributable to Avalon Holdings Corporation common shareholders is computed by dividing the net income (loss) by the weighted average number of common shares outstanding, which were 3,803,331 Diluted net income (loss) per share attributable to Avalon Holdings Corporation common shareholders is computed by dividing net income (loss) by the weighted average number of common shares outstanding plus any weighted common equivalent shares determined to be outstanding during the period using the treasury method. The weighted common equivalent shares included in the calculation are related to stock options granted by Avalon where the weighted average market price of Avalon’s common stock for the period presented is greater than the option exercise price of the stock option. For the three June 30, 2018 2017, 3,817,781 3,826,920, For the six June 30, 2018 2017, six June 30, 2018 2017 3,817,078 3,858,828, |
Note 9 - Term Loan and Line of
Note 9 - Term Loan and Line of Credit Agreements | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 9 . Term Loan and Line of Credit Agreements On December 20, 2016, $12.0 $9.1 May 21, 2015, $2.9 June 30, 2018 December 31, 2017, $1.3 $2.8 December 4, 2017 The $12.0 119 , fifteen 15 January 20, 2017. December 20, 2026 5.35% fifth 5.35% two 2 3.95%, no 7.50% Avalon has the right to prepay the amount outstanding under the Term Loan Agreement, in whole or in part, at any time upon payment of the principal amount of the loan to be prepaid plus accrued unpaid interest thereon to the prepayment date, plus an applicable prepayment penalty. The prepayment penalty, expressed as a percentage of the principal of the loan being prepaid, is five 5% first five four 4% sixth seventh three 3% eighth ninth two 2% tenth Borrowings are secured by certain real property and related business assets as defined in the Term Loan Agreement. The Term Loan Agreement also contains certain financial and other covenants, customary representations, warranties and events of default. Avalon was in compliance with the Term Loan Agreement covenants at June 30, 2018 December 31, 2017. The Company incurred approximately $191,000 2015 03, Simplifying the Presentation of Debt Issuance Costs On May 31, 2018, $5.0 May 31, 2020. $1.0 December 20, 2016, No No June 30, 2018. .25%. June 30, 2018, 5.00%. July 1, 2018, 5.25%. Borrowings under the Line of Credit Agreement are secured by certain business assets of the Company including accounts receivable, inventory and equipment. The Line of Credit Agreement also contains certain financial and other covenants, customary representations, warranties and events of default. Avalon was in compliance with the line of credit agreements covenants at June 30, 2018 December 31, 2017. During both the three six June 30, 2018 2017, 5.35%. Obligations under the Company’s debt agreements at June 30, 2018 December 31, 2017 June 30, 2018 Gross Amount Debt Issuance Costs Net Amount Term loan agreement $ 11,185 $ (163 ) $ 11,022 Less current portion 581 (19 ) 562 Long-term debt $ 10,604 $ (144 ) $ 10,460 December 31, 2017 Gross Amount Debt Issuance Costs Net Amount Term loan agreement $ 11,464 $ (172 ) $ 11,292 Less current portion 566 (19 ) 547 Long-term debt $ 10,898 $ (153 ) $ 10,745 Future maturities of long-term debt are as follows (in thousands): For the Twelve Month Period Ending June 30, 2019 $ 581 2020 613 2021 646 2022 682 2023 719 Thereafter 7,944 Total $ 11,185 |
Note 10 - Income Taxes
Note 10 - Income Taxes | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 10 . Income Taxes During the three June 30, 2018 2017, $0.6 $0.1 six June 30, 2018 2017, $0.2 $0.8 three six June 30, 2018 2017, not not On December 22, 2017, 740, “Income Taxes six June 30, 2018, |
Note 11 - Long-Term Incentive P
Note 11 - Long-Term Incentive Plan | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 11 . Long-T erm Incentive Plan The purpose of the Avalon Holdings Corporation 2009 1,300,000 760,000 June 30, 2018. five ten three not 2018 2017, not not three The grant-date fair values of these stock option awards were estimated using the Monte Carlo Simulation. The Monte Carlo Simulation was selected to determine the fair value because it incorporates six 1 2 3 4 5 6 The grant date fair value of the underlying equity was determined to be equal to Avalon’s publicly traded stock price as of the grant dates times the sum of the Class A and Class B common shares outstanding. The expected term, or time until the option is exercised, is typically based on historical exercising behavior of previous option holders of a company’s stock. Due to the fact that the Company has had no five The expected volatility was based on the observed historical volatility of Avalon common stock for a period prior to the grant date. There were no The following table is a summary of the stock option activity: Weighted Weighted Number of Average Average Options Exercise Fair Value at Granted Price Grant Date Outstanding at January 1, 2018 760,000 2.51 1.00 Options granted - - - Options exercised - - - Options cancelled or forfeited - - - Outstanding at June 30, 2018 760,000 $ 2.51 $ 1.00 Options Vested 706,000 Exercisable at June 30, 2018 286,000 The stock options vest and become exercisable based upon achieving two 1 Contract Vesting Term: The stock options vest ratably over a five 2 The Avalon common stock price traded on a public stock exchange (NYSE Amex) must reach the predetermined vesting price within three The table below represents the period and predetermined stock price needed for vesting. Begins Ends Predetermined Vesting Vesting Vesting Price Block 1 12 months after Grant Dates 48 months after Grant Dates $ 3.43 Block 2 24 months after Grant Dates 60 months after Grant Dates $ 4.69 Block 3 36 months after Grant Dates 72 months after Grant Dates $ 6.43 Block 4 48 months after Grant Dates 84 months after Grant Dates $ 8.81 Block 5 60 months after Grant Dates 96 months after Grant Dates $ 12.07 In July 2018, Compensation costs were approximately $1,000 $2,000 three June 30, 2018 2017, $3,000 $7,000 six June 30, 2018 2017, June 30, 2018, $26,000 5.92 |
Note 12 - Legal Matters
Note 12 - Legal Matters | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | Note 12 . Legal Matters In the ordinary course of conducting its business, Avalon becomes involved in lawsuits, administrative proceedings and governmental investigations, including those related to environmental matters. Some of these proceedings may may not 15 |
Note 13 - Business Segment Info
Note 13 - Business Segment Information | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 13 . Business Segment Information In determining the segment information, Avalon considered its operating and management structure and the types of information subject to regular review by its “chief operating decision maker.” Using the criteria of FASB ASC 280 Segment Reporting third Avalon’s primary business segment, the waste management services segment, provides hazardous and nonhazardous brokerage and management services to industrial, commercial, municipal and governmental customers, captive landfill management for an industrial customer and salt water injection well operations. Avalon’s golf and related operations segment consists of three Avalon does not not For the six June 30, 2018, no one 10% six June 30, 2017, one 10% 7% The accounting policies of the segments are consistent with those described for the consolidated financial statements in the summary of significant accounting policies included in Avalon’s 2017 Business segment information including the reconciliation of segment income before taxes to income (loss) before taxes is as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Net operating revenues from: Waste management services: External customer revenues $ 11,510 $ 9,490 $ 19,968 $ 17,103 Intersegment revenues - - - - Total waste management services 11,510 9,490 19,968 17,103 Golf and related operations: External customer revenues 5,195 5,087 8,253 8,176 Intersegment revenues 16 11 41 37 Total golf and related operations 5,211 5,098 8,294 8,213 Segment operating revenues 16,721 14,588 28,262 25,316 Intersegment eliminations (16 ) (11 ) (41 ) (37 ) Total net operating revenues $ 16,705 $ 14,577 $ 28,221 $ 25,279 Income (loss) before income taxes: Waste management services $ 977 $ 685 $ 1,524 $ 1,228 Golf and related operations 381 221 - (376 ) Segment income before income taxes 1,358 906 1,524 852 Corporate interest expense (161 ) (164 ) (320 ) (328 ) Corporate other income, net 11 2 13 4 General corporate expenses (673 ) (703 ) (1,577 ) (1,486 ) Income (loss) before income taxes $ 535 $ 41 $ (360 ) $ (958 ) June 30, December 31, 2018 2017 Identifiable assets: Waste management services $ 27,861 $ 26,449 Golf and related operations 47,468 45,188 Corporate 48,361 49,549 Subtotal 123,690 121,186 Elimination of intersegment receivables (56,119 ) (55,808 ) Total $ 67,571 $ 65,378 In comparing the total assets at June 30, 2018 December 31, 2017, $1.4 $2.3 $1.2 |
Note 14 - Certain Relationships
Note 14 - Certain Relationships and Related Transactions | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 14 . Certain Relationships and Related Transactions In August 2013, In 2014 2013, $3.4 $3.8 2014 2013. $1.0 As a result of a private placement offering, Avalon is not June 30, 2018 December 31, 2017, 47% 810 10 , 810 10 |
Note 15 - Injection Wells Suspe
Note 15 - Injection Wells Suspension | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Suspended Injection Well Costs Disclosure [Text Block] | Note 15 . Injection Wells Suspension As a result of a seismic event with a magnitude of 2.1 August 31, 2014, September 3, 2014, two two 112 two On September 5, 2014, #1 September 18, 2014. September 19, 2014, #2 not On October 2, 2014, #2 March 11, 2015, #2 On August 12, 2015, #2 September 2015 10th On November 1, 2016 December 23, 2016, 26 not On February 21, 2017, #2 February 22, 2017. 10th March 21, 2017. September 14, 2017, On July 31, 2018 10 th 10 th 10 th #2 10 th The Company is in the process of evaluating the decision in light of other ongoing litigation in this matter, and will vigorously pursue all available legal avenues. In addition, on August 26, 2016, 11 th no no 19 163. The hearing was scheduled to commence on June 25, 2018. June 8, 2018, 11 th 10th not July 31, 2018 10 th At December 31, 2017, 360 10 35, Property, Plant and Equipment – Overall – Subsequent Measurement $3.7 December 31, 2017 no June 30, 2018. Management continues to consider whether indicators of impairment are present and tests for recoverability, as necessary. There can be no not may $3.5 June 30, 2018. |
Note 16 - Asset Acquisition
Note 16 - Asset Acquisition | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Asset Acquisition [TextBlock] | Note 16 . Asset Acquisition On March 7, 2018, $1.3 2017 The Avalon Athletic Club at Boardman is currently in operation providing indoor tennis court rental and lessons. The operating results are included in the Company’s Condensed Consolidated Statements of Operations and within Avalon’s golf and related operations segment from the date of acquisition. The net operating revenues and results of operations related to the Avalon Athletic Club at Boardman from the period of acquisition are not not In the second 2018, The acquisition of the facility and its associated renovation is consistent with the Company’s athletics and fitness business strategy. Members of the Avalon Golf and Country Club will have access to the renovated facility and all the athletic and fitness related activities that will be offered by The Avalon Athletic Club at Boardman. In addition, hotel guests at The Avalon Inn will also be able to utilize the facility during their stay. The Avalon Athletic Club at Boardman will earn revenue through membership fees, athletic and fitness related activities. The Company accounted for the acquisition of The Avalon Athletic Club at Boardman in accordance with ASU 2017 01. 2017 01, 2017 01, The following table summarizes the fair values of the assets acquired and liabilities assumed at the transaction date (in thousands): Assets acquired: Building and land $ 1,302 Total assets acquired: 1,302 Liabilities assumed: Accrued liabilities 33 Total liabilities assumed 33 Total consideration $ 1,269 |
Note 4 - Cash, Cash Equivalen23
Note 4 - Cash, Cash Equivalents and Restricted Cash (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Table Text Block] | June 30, December 31, 2018 2017 Cash and cash equivalents $ 2,409 $ 1,025 Restricted cash 1,326 2,826 Cash, cash equivalents and restricted cash $ 3,735 $ 3,851 |
Note 5 - Revenues (Tables)
Note 5 - Revenues (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Waste management and brokerage services $ 10,895 $ 8,916 $ 18,770 $ 16,009 Captive landfill management operations 615 574 1,198 1,094 Total waste management services revenues 11,510 9,490 19,968 17,103 Food, beverage and merchandise sales 2,206 2,270 3,246 3,376 Membership dues revenue 1,307 1,294 2,593 2,596 Room rental revenue 666 572 1,042 880 Greens fees and cart rental revenue 557 534 595 576 Other revenue 459 417 777 748 Total golf and related operations revenue 5,195 5,087 8,253 8,176 Total net operating revenues $ 16,705 $ 14,577 $ 28,221 $ 25,279 |
Contract with Customer, Asset and Liability [Table Text Block] | Unbilled Balance at Membership Balance at Beginning of Period Dues Billings End of Period Three months ended June 30, 2018 Contract Assets: Unbilled membership dues receivable $ 694 $ 832 $ (517 ) $ 1,009 Six months ended June 30, 2018 Contract Assets: Unbilled membership dues receivable $ 580 $ 1,412 $ (983 ) $ 1,009 Balance at Revenue Balance at Beginning of Period Billings Recognized End of Period Three months ended June 30, 2018 Contract Liabilities: Deferred membership dues revenue $ 3,147 $ 2,194 $ (1,307 ) $ 4,034 Six months ended June 30, 2018 Contract Liabilities: Deferred membership dues revenue $ 2,718 $ 3,909 $ (2,593 ) $ 4,034 |
Note 6 - Property and Equipme25
Note 6 - Property and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, December 31, 2018 2017 Land and land improvements $ 14,492 $ 14,318 Buildings and improvements 36,280 34,721 Machinery and equipment 9,220 9,151 Office furniture and fixtures 6,422 6,301 Vehicles 467 467 Construction in progress 349 294 67,230 65,252 Less accumulated depreciation and amortization (23,238 ) (22,037 ) Property and equipment, net $ 43,992 $ 43,215 |
Note 7 - Capital Leased Assets
Note 7 - Capital Leased Assets (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Capital Leased Assets [Table Text Block] | June 30, December 31, 2018 2017 Leased property under capital leases $ 11,537 $ 11,361 Less accumulated amortization (5,226 ) (5,001 ) Leased property under capital leases, net $ 6,311 $ 6,360 |
Note 9 - Term Loan and Line o27
Note 9 - Term Loan and Line of Credit Agreements (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | June 30, 2018 Gross Amount Debt Issuance Costs Net Amount Term loan agreement $ 11,185 $ (163 ) $ 11,022 Less current portion 581 (19 ) 562 Long-term debt $ 10,604 $ (144 ) $ 10,460 December 31, 2017 Gross Amount Debt Issuance Costs Net Amount Term loan agreement $ 11,464 $ (172 ) $ 11,292 Less current portion 566 (19 ) 547 Long-term debt $ 10,898 $ (153 ) $ 10,745 |
Schedule of Maturities of Long-term Debt [Table Text Block] | For the Twelve Month Period Ending June 30, 2019 $ 581 2020 613 2021 646 2022 682 2023 719 Thereafter 7,944 Total $ 11,185 |
Note 11 - Long-Term Incentive28
Note 11 - Long-Term Incentive Plan (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted Weighted Number of Average Average Options Exercise Fair Value at Granted Price Grant Date Outstanding at January 1, 2018 760,000 2.51 1.00 Options granted - - - Options exercised - - - Options cancelled or forfeited - - - Outstanding at June 30, 2018 760,000 $ 2.51 $ 1.00 Options Vested 706,000 Exercisable at June 30, 2018 286,000 |
Schedule Of Period And Predetermined Stock Price Needed For Vesting [Table Text Block] | Begins Ends Predetermined Vesting Vesting Vesting Price Block 1 12 months after Grant Dates 48 months after Grant Dates $ 3.43 Block 2 24 months after Grant Dates 60 months after Grant Dates $ 4.69 Block 3 36 months after Grant Dates 72 months after Grant Dates $ 6.43 Block 4 48 months after Grant Dates 84 months after Grant Dates $ 8.81 Block 5 60 months after Grant Dates 96 months after Grant Dates $ 12.07 |
Note 13 - Business Segment In29
Note 13 - Business Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Net operating revenues from: Waste management services: External customer revenues $ 11,510 $ 9,490 $ 19,968 $ 17,103 Intersegment revenues - - - - Total waste management services 11,510 9,490 19,968 17,103 Golf and related operations: External customer revenues 5,195 5,087 8,253 8,176 Intersegment revenues 16 11 41 37 Total golf and related operations 5,211 5,098 8,294 8,213 Segment operating revenues 16,721 14,588 28,262 25,316 Intersegment eliminations (16 ) (11 ) (41 ) (37 ) Total net operating revenues $ 16,705 $ 14,577 $ 28,221 $ 25,279 Income (loss) before income taxes: Waste management services $ 977 $ 685 $ 1,524 $ 1,228 Golf and related operations 381 221 - (376 ) Segment income before income taxes 1,358 906 1,524 852 Corporate interest expense (161 ) (164 ) (320 ) (328 ) Corporate other income, net 11 2 13 4 General corporate expenses (673 ) (703 ) (1,577 ) (1,486 ) Income (loss) before income taxes $ 535 $ 41 $ (360 ) $ (958 ) |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | June 30, December 31, 2018 2017 Identifiable assets: Waste management services $ 27,861 $ 26,449 Golf and related operations 47,468 45,188 Corporate 48,361 49,549 Subtotal 123,690 121,186 Elimination of intersegment receivables (56,119 ) (55,808 ) Total $ 67,571 $ 65,378 |
Note 16 - Asset Acquisition (Ta
Note 16 - Asset Acquisition (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Asset Acquisition [Table Text Block] | Assets acquired: Building and land $ 1,302 Total assets acquired: 1,302 Liabilities assumed: Accrued liabilities 33 Total liabilities assumed 33 Total consideration $ 1,269 |
Note 1 - Description of Busin31
Note 1 - Description of Business (Details Textual) | 6 Months Ended |
Jun. 30, 2018 | |
Golf and Related Operations [Member] | |
Number of Golf Courses | 3 |
Note 4 - Cash, Cash Equivalen32
Note 4 - Cash, Cash Equivalents and Restricted Cash (Details Textual) - USD ($) $ in Millions | Mar. 07, 2018 | Mar. 31, 2018 |
Restricted Cash and Cash Equivalents Withdrawal Amount | $ 1.5 | |
Boardman Tennis Center [Member] | ||
Payments to Acquire Businesses, Gross | $ 1.3 |
Note 4 - Cash, Cash Equivalent
Note 4 - Cash, Cash Equivalent and Restricted Cash - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Cash and cash equivalents | $ 2,409 | $ 1,025 | ||
Restricted cash | 1,326 | 2,826 | ||
Cash, cash equivalents and restricted cash | $ 3,735 | $ 3,851 | $ 4,501 | $ 5,204 |
Note 5 - Revenues (Details Text
Note 5 - Revenues (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($) | Mar. 31, 2018USD ($) | Sep. 30, 2014 | |
Number of Suspended Saltwater Injection Wells | 2 | ||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 16,705 | $ 14,577 | $ 28,221 | $ 25,279 | |||
Membership Agreement, Term | 1 year | ||||||
Allowance for Doubtful Accounts Receivable, Ending Balance | 300 | $ 300 | $ 200 | ||||
Contract with Customer, Asset, Net, Total | 1,009 | 1,009 | 580 | $ 694 | |||
Contract with Customer, Liability, Total | 4,034 | $ 4,034 | $ 2,718 | $ 3,147 | |||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||||||
Number of Major Customers | 0 | 0 | |||||
Waste Management Services [Member] | |||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 11,510 | $ 9,490 | $ 19,968 | $ 17,103 | |||
Revenue from Contract with Customer, Excluding Assessed Tax, Percentage | 69.00% | 65.00% | 71.00% | 68.00% | |||
Waste Management Services [Member] | Maximum [Member] | |||||||
Contract Term | 1 year | ||||||
Golf and Related Operations [Member] | |||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 5,195 | $ 5,087 | $ 8,253 | $ 8,176 | |||
Revenue from Contract with Customer, Excluding Assessed Tax, Percentage | 31.00% | 35.00% | 29.00% | 32.00% | |||
Salt Water Injection Operations [Member] | Waste Management Services [Member] | |||||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 0 | $ 0 |
Note 5 - Revenues - Disaggregat
Note 5 - Revenues - Disaggregation of Revenue (Unaudited) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 16,705 | $ 14,577 | $ 28,221 | $ 25,279 |
Waste Management Services [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 11,510 | 9,490 | 19,968 | 17,103 |
Waste Management Services [Member] | Waste Brokerage And Management Services Member | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 10,895 | 8,916 | 18,770 | 16,009 |
Waste Management Services [Member] | Captive Landfill Management Operations [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 615 | 574 | 1,198 | 1,094 |
Golf and Related Operations [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 5,195 | 5,087 | 8,253 | 8,176 |
Golf and Related Operations [Member] | Food and Beverage [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 2,206 | 2,270 | 3,246 | 3,376 |
Golf and Related Operations [Member] | Membership Dues [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 1,307 | 1,294 | 2,593 | 2,596 |
Golf and Related Operations [Member] | Room Rental [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 666 | 572 | 1,042 | 880 |
Golf and Related Operations [Member] | Green Fees and Cart Rental [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 557 | 534 | 595 | 576 |
Golf and Related Operations [Member] | Other Revenue [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 459 | $ 417 | $ 777 | $ 748 |
Note 5 - Revenues - Contract As
Note 5 - Revenues - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2018 | Jun. 30, 2018 | |
Beginning balance | $ 694 | $ 580 |
Unbilled membership dues | 832 | 1,412 |
Billings | (517) | (983) |
Ending balance | 1,009 | 1,009 |
Beginning balance | 3,147 | 2,718 |
Billings | 2,194 | 3,909 |
Revenue recognized | (1,307) | (2,593) |
Ending balance | $ 4,034 | $ 4,034 |
Note 6 - Property and Equipme37
Note 6 - Property and Equipment (Details Textual) | 6 Months Ended |
Jun. 30, 2018 | |
Land Improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life | 10 years |
Land Improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life | 30 years |
Building and Building Improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life | 5 years |
Building and Building Improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life | 50 years |
Machinery and Equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life | 3 years |
Machinery and Equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life | 10 years |
Vehicles [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life | 3 years |
Vehicles [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life | 10 years |
Furniture and Fixtures [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life | 3 years |
Furniture and Fixtures [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life | 10 years |
Note 6 - Property and Equipme38
Note 6 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Property and equipment, gross | $ 67,230 | $ 65,252 |
Less accumulated depreciation and amortization | (23,238) | (22,037) |
Property and equipment, net | 43,992 | 43,215 |
Land and Land Improvements [Member] | ||
Property and equipment, gross | 14,492 | 14,318 |
Building and Building Improvements [Member] | ||
Property and equipment, gross | 36,280 | 34,721 |
Machinery and Equipment [Member] | ||
Property and equipment, gross | 9,220 | 9,151 |
Office Equipment [Member] | ||
Property and equipment, gross | 6,422 | 6,301 |
Vehicles [Member] | ||
Property and equipment, gross | 467 | 467 |
Construction in Progress [Member] | ||
Property and equipment, gross | $ 349 | $ 294 |
Note 7 - Capital Leased Asset39
Note 7 - Capital Leased Assets (Details Textual) | 1 Months Ended | ||
Nov. 30, 2003 | Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) | |
Capital Leases, Balance Sheet, Assets by Major Class, Net, Total | $ 6,311,000 | $ 6,360,000 | |
Capital Leased Asset, Equipment for Landfill Operation [Member] | |||
Capital Leases, Balance Sheet, Assets by Major Class, Net, Total | 100,000 | 100,000 | |
Golf and Related Operations [Member] | |||
Capital Leases, Balance Sheet, Assets by Major Class, Net, Total | 800,000 | $ 800,000 | |
Squaw Creek Country Club Lease [Member] | |||
Initial Lease Term | 10 years | ||
Number of Consecutive Renewal Term Options | 4 | ||
Renewal Lease Term | 10 years | ||
Capital Leases, Future Minimum Payments Due, Next Twelve Months | 15,000 | ||
Leasehold Improvements Required to be Made Per Year | $ 150,000 |
Note 7 - Capital Leased Asset40
Note 7 - Capital Leased Assets - Leased Property Under Capital Leases (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Leased property under capital leases | $ 11,537 | $ 11,361 |
Less accumulated amortization | (5,226) | (5,001) |
Leased property under capital leases, net | $ 6,311 | $ 6,360 |
Note 8 - Basic and Diluted Ne41
Note 8 - Basic and Diluted Net Income (Loss) Per Share (Details Textual) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Weighted Average Number of Shares Outstanding, Basic, Total | 3,803,000 | 3,803,000 | 3,803,331 | 3,803,331 |
Weighted Average Number of Shares Outstanding, Diluted, Total | 3,817,781 | 3,826,920 | 3,803,000 | 3,803,000 |
Weighted Average Number of Shares Outstanding, Assuming Dilution | 3,817,078 | 3,858,828 |
Note 9 - Term Loan and Line o42
Note 9 - Term Loan and Line of Credit Agreements (Details Textual) - USD ($) | Dec. 20, 2016 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Jul. 01, 2018 | May 31, 2018 | Dec. 31, 2017 |
Long-term Debt, Gross | $ 11,185,000 | $ 11,185,000 | ||||||
Restricted Cash and Cash Equivalents, Noncurrent, Total | $ 1,326,000 | $ 1,326,000 | $ 2,826,000 | |||||
Long-term Debt, Weighted Average Interest Rate, over Time | 5.35% | 5.35% | 5.35% | 5.35% | ||||
Home Savings Bank [Member] | ||||||||
Repayments of Lines of Credit | $ 9,100,000 | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000,000 | |||||||
Line of Credit Facility, Amounts in Excess of, Subject to Borrowing Base | 1,000,000 | |||||||
Line of Credit, Current | $ 0 | $ 0 | $ 0 | |||||
Line of Credit Facility, Interest Rate at Period End | 5.00% | 5.00% | ||||||
Home Savings Bank [Member] | Subsequent Event [Member] | ||||||||
Line of Credit Facility, Interest Rate at Period End | 5.25% | |||||||
Home Savings Bank [Member] | Line of Credit [Member] | Prime Rate [Member] | ||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.25% | |||||||
Term Loan Agreement [Member] | ||||||||
Long-term Debt, Gross | $ 11,185,000 | $ 11,185,000 | 11,464,000 | |||||
Debt Issuance Costs, Net, Total | 163,000 | 163,000 | 172,000 | |||||
Term Loan Agreement [Member] | Laurel Capital Corporation [Member] | ||||||||
Long-term Debt, Gross | 12,000,000 | |||||||
Restricted Cash and Cash Equivalents, Noncurrent, Total | $ 2,900,000 | $ 1,300,000 | $ 1,300,000 | $ 2,800,000 | ||||
Debt Instrument, Periodic Payment, Number of Payments | 119 | |||||||
Debt Instrument, Maturity Schedule | 15 years | |||||||
Debt Instrument, Interest Rate, Stated Percentage, First Five Years | 5.35% | |||||||
Debt Instrument, Interest Rate, Stated Percentage, After Year Five, if Greater Than Sum of Index Rate and 3.95% | 5.35% | |||||||
Debt Instrument, Interest Rate, Stated Percentage, After Year Five, Plus Index Rate, if Greater Than 5.35% | 3.95% | |||||||
Debt Instrument, Maximum Interest Rate, Years Six Through Ten | 7.50% | |||||||
Debt Instrument, Prepayment Penalty, Percentage, First Five Years | 5.00% | |||||||
Debt Instrument, Prepayment Penalty, Percentage, Years Six and Seven | 4.00% | |||||||
Debt Instrument, Prepayment Penalty, Percentage, Years Eight and Nine | 3.00% | |||||||
Debt Instrument, Prepayment Penalty, Percentage, Year Ten | 2.00% | |||||||
Debt Issuance Costs, Net, Total | $ 191,000 |
Note 9 - Term Loan and Line o43
Note 9 - Term Loan and Line of Credit Agreements - Summary of Term Loan and Line of Credit Agreements (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Long-term debt, gross | $ 11,185 | |
Less current portion of long-term debt, gross | 581 | $ 566 |
Less current portion debt issuance costs | (19) | (19) |
Current portion of long-term debt | 562 | 547 |
Long-term debt, gross, net of current portion | 10,604 | 10,898 |
Debt issuance costs, net of current portion | (144) | (153) |
Long-term debt, net of current portion | 10,460 | 10,745 |
Term Loan Agreement [Member] | ||
Long-term debt, gross | 11,185 | 11,464 |
Debt issuance costs | (163) | (172) |
Long-term debt | $ 11,022 | $ 11,292 |
Note 9 - Term Loan and Line o44
Note 9 - Term Loan and Line of Credit Agreements - Future Maturities of Long-term Debt (Details) $ in Thousands | Jun. 30, 2018USD ($) |
2,019 | $ 581 |
2,020 | 613 |
2,021 | 646 |
2,022 | 682 |
2,023 | 719 |
Thereafter | 7,944 |
Total | $ 11,185 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net Income (Loss) Attributable to Parent, Total | $ 623 | $ 121 | $ (176) | $ (805) |
Note 11 - Long-Term Incentive46
Note 11 - Long-Term Incentive Plan (Details Textual) - USD ($) xbrli-pure in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Oct. 06, 2009 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 760,000 | 760,000 | 760,000 | |||
Avalon Holdings Corporation 2009 Long Term Incentive Plan Member | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 760,000 | 760,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||
Number Of Years After Options Vested, Stock Price Reach Predetermined Vesting Price | 3 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | |||||
Allocated Share-based Compensation Expense, Total | $ 1,000 | $ 2,000 | $ 3,000 | $ 7,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 26,000 | $ 26,000 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 5 years 335 days | |||||
Avalon Holdings Corporation 2009 Long Term Incentive Plan Member | Common Class A [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,300,000 |
Note 11 - Long-term Incentive47
Note 11 - Long-term Incentive Plan - Stock Option Activity (Details) | 6 Months Ended |
Jun. 30, 2018$ / sharesshares | |
Options outstanding (in shares) | shares | 760,000 |
Weighted average exercise price, options outstanding (in dollars per share) | $ 2.51 |
Weighted average fair value at grant date, options outstanding (in dollars per share) | $ 1 |
Options granted (in shares) | shares | |
Weighted average exercise price, options granted (in dollars per share) | |
Weighted average fair value at grant date, options granted (in dollars per share) | |
Options exercised (in shares) | shares | |
Weighted average exercise price, options exercised (in dollars per share) | |
Options cancelled or forfeited (in shares) | shares | |
Weighted average exercise price, options cancelled or forfeited (in dollars per share) | |
Weighted average fair value at grant date, options cancelled or forfeited (in dollars per share) | |
Options outstanding (in shares) | shares | 760,000 |
Weighted average exercise price, options outstanding (in dollars per share) | $ 2.51 |
Weighted average fair value at grant date, options outstanding (in dollars per share) | $ 1 |
Options vested (in shares) | shares | 706,000 |
Options exercisable (in shares) | shares | 286,000 |
Note 11 - Long-term Incentive48
Note 11 - Long-term Incentive Plan - Period and Predetermined Stock Price Needed for Vesting (Details) | 6 Months Ended |
Jun. 30, 2018$ / shares | |
Share-based Compensation Award, Tranche One [Member] | |
Begins Vesting | 12 months after Grant Dates |
Ends Vesting | 48 months after Grant Dates |
Predetermined Vesting Price (in dollars per share) | $ 3.43 |
Share-based Compensation Award, Tranche Two [Member] | |
Begins Vesting | 24 months after Grant Dates |
Ends Vesting | 60 months after Grant Dates |
Predetermined Vesting Price (in dollars per share) | $ 4.69 |
Share-based Compensation Award, Tranche Three [Member] | |
Begins Vesting | 36 months after Grant Dates |
Ends Vesting | 72 months after Grant Dates |
Predetermined Vesting Price (in dollars per share) | $ 6.43 |
Share-Based Compensation Award Tranche Four [Member] | |
Begins Vesting | 48 months after Grant Dates |
Ends Vesting | 84 months after Grant Dates |
Predetermined Vesting Price (in dollars per share) | $ 8.81 |
Share-Based Compensation Award Tranche Five [Member] | |
Begins Vesting | 60 months after Grant Dates |
Ends Vesting | 96 months after Grant Dates |
Predetermined Vesting Price (in dollars per share) | $ 12.07 |
Note 13 - Business Segment In49
Note 13 - Business Segment Information (Details Textual) $ in Millions | 6 Months Ended | |
Jun. 30, 2018USD ($) | Jun. 30, 2017 | |
Corporate, Non-Segment [Member] | ||
Increase (Decrease) in Total Assets | $ (1.2) | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ||
Number of Major Customers | 0 | 1 |
Golf and Related Operations [Member] | ||
Number of Golf Courses | 3 | |
Increase (Decrease) in Total Assets | $ 2.3 | |
Waste Management Services [Member] | ||
Increase (Decrease) in Total Assets | $ (1.4) | |
Waste Management Services [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | One Customer [Member] | ||
Concentration Risk, Percentage | 7.00% |
Note 13 - Business Segment In50
Note 13 - Business Segment Information - Segment Reporting Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 16,705 | $ 14,577 | $ 28,221 | $ 25,279 |
Income (loss) before income taxes | 535 | 41 | (360) | (958) |
Corporate interest expense | (174) | (177) | (345) | (352) |
Corporate other income, net | 113 | 109 | 173 | 186 |
Waste Management Services [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 11,510 | 9,490 | 19,968 | 17,103 |
Golf and Related Operations [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 5,195 | 5,087 | 8,253 | 8,176 |
Operating Segments [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 16,721 | 14,588 | 28,262 | 25,316 |
Income (loss) before income taxes | 1,358 | 906 | 1,524 | 852 |
Operating Segments [Member] | Waste Management Services [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 11,510 | 9,490 | 19,968 | 17,103 |
Income (loss) before income taxes | 977 | 685 | 1,524 | 1,228 |
Operating Segments [Member] | Golf and Related Operations [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | 5,211 | 5,098 | 8,294 | 8,213 |
Income (loss) before income taxes | 381 | 221 | (376) | |
Corporate, Non-Segment [Member] | ||||
Corporate interest expense | (161) | (164) | (320) | (328) |
Corporate other income, net | 11 | 2 | 13 | 4 |
General corporate expenses | (673) | (703) | (1,577) | (1,486) |
Intersegment Eliminations [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | (16) | (11) | (41) | (37) |
Intersegment Eliminations [Member] | Waste Management Services [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | ||||
Intersegment Eliminations [Member] | Golf and Related Operations [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 16 | $ 11 | $ 41 | $ 37 |
Note 13 - Business Segment In51
Note 13 - Business Segment Information - Identifiable Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Total assets | $ 67,571 | $ 65,378 |
Operating Segments [Member] | ||
Total assets | 123,690 | 121,186 |
Operating Segments [Member] | Waste Management Services [Member] | ||
Total assets | 27,861 | 26,449 |
Operating Segments [Member] | Golf and Related Operations [Member] | ||
Total assets | 47,468 | 45,188 |
Corporate, Non-Segment [Member] | ||
Total assets | 48,361 | 49,549 |
Intersegment Eliminations [Member] | ||
Total assets | $ (56,119) | $ (55,808) |
Note 14 - Certain Relationshi52
Note 14 - Certain Relationships and Related Transactions (Details Textual) - USD ($) $ in Millions | 12 Months Ended | 24 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Jun. 30, 2018 | Dec. 31, 2017 | |
Investment in Subsidiary [Member] | Management and Accredited Investors [Member] | |||||
Related Party Transaction, Amounts of Transaction | $ 1 | ||||
AWMS Holdings, LLC [Member] | |||||
Equity Method Investments | $ 3.4 | $ 3.4 | $ 3.4 | ||
Proceeds from Issuance of Private Placement | $ 3.8 | $ 3.8 | |||
Equity Method Investment, Ownership Percentage | 47.00% | 47.00% |
Note 15 - Injection Wells Sus53
Note 15 - Injection Wells Suspension (Details Textual) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2014 | |
Number of Suspended Saltwater Injection Wells | 2 | ||
Property, Plant and Equipment, Net, Ending Balance | $ 43,992 | $ 43,215 | |
Wells and Related Equipment and Facilities [Member] | |||
Property, Plant and Equipment, Net, Ending Balance | $ 3,700 | ||
Wells and Related Equipment and Facilities [Member] | Maximum [Member] | |||
Tangible Asset Impairment Charges, Total | $ 3,500 |
Note 16 - Asset Acquisition (De
Note 16 - Asset Acquisition (Details Textual) - USD ($) $ in Thousands | Mar. 07, 2018 | Jun. 30, 2018 | Jun. 30, 2017 |
Payments to Acquire Buildings | $ 1,300 | $ 1,269 |
Note 16 - Asset Acquisition - A
Note 16 - Asset Acquisition - Assets Acquired and Liabilities Assumed (Details) - Boardman Tennis Center [Member] $ in Thousands | Mar. 07, 2018USD ($) |
Building and land | $ 1,302 |
Total assets acquired: | 1,302 |
Accrued liabilities | 33 |
Total liabilities assumed | 33 |
Total consideration | $ 1,269 |