American Vanguard (AVD) 10-Q 9 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	Apr. 27, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Trading Symbol	AVD
Entity Registrant Name	AMERICAN VANGUARD CORPORATION
Entity Central Index Key	0000005981
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	001-13795
Entity Tax Identification Number	95-2588080
Entity Address, Address Line One	4695 MacArthur Court
Entity Address, City or Town	Newport Beach
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92660
City Area Code	949
Local Phone Number	260-1200
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, $0.10 par value
Security Exchange Name	NYSE
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Entity Common Stock, Shares Outstanding		29,415,136

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Net sales	$ 124,885	$ 149,593
Cost of sales	(86,348)	(98,198)
Gross profit	38,537	51,395
Operating expenses	(35,272)	(36,646)
Operating income	3,265	14,749
Change in fair value of an equity investment	(22)	83
Interest expense, net	(1,686)	(398)
Income before provision for income taxes	1,557	14,434
Income tax benefit (expense)	361	(4,499)
Net income	$ 1,918	$ 9,935
Earnings per common share—basic	$ 0.07	$ 0.33
Earnings per common share—assuming dilution	$ 0.07	$ 0.33
Weighted average shares outstanding—basic	28,367	29,677
Weighted average shares outstanding—assuming dilution	29,073	30,349

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 1,918	$ 9,935
Other comprehensive income:
Foreign currency translation adjustment, net of tax effects	2,546	7,080
Comprehensive income	$ 4,464	$ 17,015

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 19,568	$ 20,328
Receivables:
Trade, net of allowance for doubtful accounts of $5,692 and $5,136, respectively	166,120	156,492
Other	9,999	9,816
Total receivables, net	176,119	166,308
Inventories	219,080	184,190
Prepaid expenses	15,324	15,850
Income taxes receivable	4,879	1,891
Total current assets	434,970	388,567
Property, plant and equipment, net	71,538	70,912
Operating lease right-of-use assets	24,460	24,250
Intangible assets, net	181,909	184,664
Goodwill	47,366	47,010
Other assets	10,610	10,769
Deferred income tax assets, net	220	141
Total assets	771,073	726,313
Current liabilities:
Accounts payable	74,887	69,000
Customer prepayments	70,338	110,597
Accrued program costs	71,379	60,743
Accrued expenses and other payables	38,038	20,982
Operating lease liabilities, current	5,367	5,279
Total current liabilities	260,009	266,601
Long-term debt, net	97,000	51,477
Operating lease liabilities, long term	19,614	19,492
Other liabilities, net of current installments	4,648	4,167
Deferred income tax liabilities, net	14,808	14,597
Total liabilities	396,079	356,334
Commitments and contingent liabilities (Notes 15 and 17)
Stockholders' equity:
Preferred stock, $0.10 par value per share; authorized 400,000 shares; none issued	0	0
Common stock, $0.10 par value per share; authorized 40,000,000 shares; issued 34,463,829 shares at March 31, 2023 and 34,446,194 shares at December 31, 2022	3,446	3,444
Additional paid-in capital	107,591	105,634
Accumulated other comprehensive loss	(9,636)	(12,182)
Retained earnings	329,812	328,745
Less treasury stock at cost, 5,057,727 shares at March 31, 2023 and 5,029,892 shares at December 31, 2022	(56,219)	(55,662)
Total stockholders’ equity	374,994	369,979
Total liabilities and stockholders' equity	$ 771,073	$ 726,313

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 5,692	$ 5,136
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	34,463,829	34,446,194
Treasury stock, shares	5,057,727	5,029,892

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Treasury Stock
Balance at Dec. 31, 2021	$ 372,738	$ 3,426	$ 101,450	$ (13,784)	$ 304,385	$ (22,739)
Balance (in shares) at Dec. 31, 2021		34,248,218				3,361,040
Common stock issued under ESPP	436	$ 2	434
Common stock issued under ESPP, (in Shares)		26,751
Cash dividends on common stock	(736)				(736)
Foreign currency translation adjustment, net	7,080			7,080
Stock-based compensation	1,563		1,563
Stock options exercised; grants, termination and vesting of restricted stock units (net of shares in lieu of taxes)	(2,174)	$ (18)	(2,156)
Stock options exercised; grants, termination and vesting of restricted stock units (net of shares in lieu of taxes), Shares		(183,093)
Shares repurchased	(6,219)					$ (6,219)
Shares repurchased (In Shares)						332,404
Net income	9,935				9,935
Balance at Mar. 31, 2022	382,623	$ 3,410	101,291	(6,704)	313,584	$ (28,958)
Balance (in shares) at Mar. 31, 2022		34,091,876				3,693,444
Balance at Dec. 31, 2022	$ 369,979	$ 3,444	105,634	(12,182)	328,745	$ (55,662)
Balance (in shares) at Dec. 31, 2022	34,446,194	34,446,194				5,029,892
Common stock issued under ESPP	$ 480	$ 2	478
Common stock issued under ESPP, (in Shares)		22,101
Cash dividends on common stock	(851)				(851)
Foreign currency translation adjustment, net	2,546			2,546
Stock-based compensation	1,474		1,474
Stock options exercised; grants, termination and vesting of restricted stock units (net of shares in lieu of taxes)	5		5
Stock options exercised; grants, termination and vesting of restricted stock units (net of shares in lieu of taxes), Shares		(4,466)
Shares repurchased	(557)					$ (557)
Shares repurchased (In Shares)						27,835
Net income	1,918				1,918
Balance at Mar. 31, 2023	$ 374,994	$ 3,446	$ 107,591	$ (9,636)	$ 329,812	$ (56,219)
Balance (in shares) at Mar. 31, 2023	34,463,829	34,463,829				5,057,727

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement Of Stockholders Equity [Abstract]
Cash dividends on common stock, per share	$ 0.030	$ 0.025

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income	$ 1,918	$ 9,935
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization of property, plant and equipment and intangible assets	5,539	5,230
Amortization of other long-term assets	714	1,173
Provision for bad debts	581	494
Fair value adjustment of contingent consideration	0	599
Stock-based compensation	1,474	1,563
Change in deferred income taxes	122	207
Changes in liabilities for uncertain tax positions or unrecognized tax benefits	371	0
Other	94	2
Foreign currency transaction gains	(446)	(261)
Changes in assets and liabilities associated with operations:
Increase in net receivables	(8,779)	(33,660)
Increase in inventories	(33,731)	(11,738)
Decrease (increase) in prepaid expenses and other assets	600	(800)
Change in income tax receivable/payable, net	(2,965)	3,046
Increase in accounts payable	5,655	9,677
Decrease in customer prepayments	(22,759)	(44,528)
Increase in accrued program costs	10,660	24,601
(Decrease) increase in other payables and accrued expenses	(500)	2,145
Net cash used in operating activities	(41,452)	(32,315)
Cash flows from investing activities:
Capital expenditures	(2,590)	(3,294)
Proceeds from disposal of property, plant and equipment	0	54
Acquisition of a product line	(703)	0
Intangible assets	(15)	(1,010)
Net cash used in investing activities	(3,308)	(4,250)
Cash flows from financing activities:
Payments under line of credit agreement	(27,300)	(12,000)
Borrowings under line of credit agreement	72,000	58,000
Net receipt from the issuance of common stock under ESPP	480	436
Net receipt from the exercise of stock options	18	0
Receipt payment for tax withholding on stock-based compensation awards	(13)	(2,174)
Repurchase of common stock	(557)	(6,219)
Payment of cash dividends	(851)	(594)
Net cash provided by financing activities	43,777	37,449
Net (decrease) increase in cash and cash equivalents	(983)	884
Effect of exchange rate changes on cash and cash equivalents	223	672
Cash and cash equivalents at beginning of period	20,328	16,285
Cash and cash equivalents at end of period	$ 19,568	$ 17,841

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies — The accompanying unaudited condensed consolidated financial statements of American Vanguard Corporation and Subsidiaries (“AVD” or “the Company”) 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. In the opinion of management, all adjustments (consisting of consolidating adjustments, eliminations and normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. The financial statements and related notes do not include all information and footnotes required by US GAAP for annual reports. This quarterly report should be read in conjunction with the consolidated financial statements included in the Company’s annual report on Form 10-K for the year ended December 31, 2022. Certain operating cash flow items have been reclassified in the prior period condensed consolidated financial statements to conform with the March 31, 2023 presentation.

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	2. Leases — The Company has operating leases for warehouses, manufacturing facilities, offices, cars, railcars and certain equipment. The lease term includes the non-cancellable period of the lease plus any additional periods covered by either an option to extend (or not terminate) that the Company is reasonably certain to exercise. The Company has leases with a lease term ranging from one year to 20 years. Finance leases are immaterial to the accompanying condensed consolidated financial statements. There were no lease transactions with related parties as of and for the three-month periods presented in the table below. The operating lease expense for the three months ended March 31, 2023 and 2022 was $ 1,637 and $ 1,604 , respectively. Lease expenses related to variable lease payments and short-term leases were immaterial. Other information related to operating leases follows: Three months Three months Cash paid for amounts included in the measurement of lease liabilities $ 1,644 $ 1,674 Right-of-use assets obtained in exchange for new liabilities $ 1,884 $ 926 The weighted-average remaining lease term and discount rate related to the operating leases as of March 31, 2023 were as follows: Weighted-average remaining lease term (in years) 5.68 Weighted-average discount rate 4.12 % Future minimum lease payments under non-cancellable operating leases as of March 31, 2023 were as follows: 2023 (excluding three months ended March 31, 2023) $ 4,625 2024 5,657 2025 5,143 2026 3,926 2027 2,662 Thereafter 6,200 Total lease payments $ 28,213 Less: imputed interest ( 3,232 ) Total $ 24,981 Amounts recognized in the condensed consolidated balance sheet: Operating lease liabilities, current $ 5,367 Operating lease liabilities, long term $ 19,614

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2023
Revenue From Contract With Customer [Abstract]
Revenue Recognition	3. Revenue Recognition —The Company recognizes revenue from the sale of its products, which include crop and non-crop products. The Company sells its products to customers, which include distributors, retailers, and growers. In addition, the Company recognizes royalty income from licensing agreements. The Company has one reportable segment. Selective enterprise information of sales disaggregated by category and geographic region is as follows: Three Months Ended 2023 2022 Net sales: U.S. crop $ 61,876 $ 88,193 U.S. non-crop 13,899 13,396 Total U.S. 75,775 101,589 International 49,110 48,004 Total net sales: $ 124,885 $ 149,593 Timing of revenue recognition: Goods and services transferred at a point in time $ 124,842 $ 149,487 Goods and services transferred over time 43 106 Total net sales: $ 124,885 $ 149,593 Contract assets relate to royalties earned on certain functional licenses granted for the use of the Company’s intellectual property and amounted to $ 3,100 at March 31, 2023 and December 31, 2022. The short-term and long-term contract assets of $ 2,295 and $ 805 are included in other receivables and other assets, respectively, on the condensed consolidated balance sheets as of March 31, 2023. As of December 31, 2022, the short-term and long-term assets amounted to $ 2,098 and $ 1,002 , respectively. The Company sometimes receives payments from its customers in advance of goods and services being provided in return for early cash incentive programs. These payments are included in customer prepayments on the condensed consolidated balance sheets. Revenue recognized for the three months ended March 31, 2023, that was included in customer prepayments at the beginning of 2023, was $ 22,759 and $ 17,500 was reclassified to accrued expenses and other payables. The Company expects to recognize all its remaining customer prepayments as revenue in fiscal 2023.

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2023
Property Plant And Equipment [Abstract]
Property, Plant and Equipment	4. Property, Plant and Equipment — Property, plant and equipment at March 31, 2023 and December 31, 2022 consists of the following: March 31, December 31, Land $ 2,761 $ 2,757 Buildings and improvements 20,918 20,794 Machinery and equipment 146,047 142,980 Office furniture, fixtures and equipment 11,266 13,231 Automotive equipment 1,490 1,584 Construction in progress 4,622 5,897 Total 187,104 187,243 Less accumulated depreciation ( 115,566 ) ( 116,331 ) Property, plant and equipment, net $ 71,538 $ 70,912 The Company recognized depreciation expense related to property and equipment of $ 2,179 and $ 2,103 for the three months ended March 31, 2023 and 2022, respectively. Substantially all of the Company’s assets are pledged as collateral with its lender banks.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Inventories	5. Inventories — Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first-in, first-out (“FIFO”) or average cost method. The components of inventories consist of the following: March 31, December 31, Finished products $ 185,992 $ 155,128 Raw materials 33,088 29,062 Inventories $ 219,080 $ 184,190

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Segment Reporting	6. Segment Reporting — Based on similar economic and operational characteristics, the Company’s business is aggregated into one reportable segment. Selective enterprise information is as follows: For the three months ended 2023 2022 Change % Change Net sales: U.S. crop $ 61,876 $ 88,193 $ ( 26,317 ) - 30 % U.S. non-crop 13,899 13,396 503 4 % Total U.S. 75,775 101,589 ( 25,814 ) - 25 % International 49,110 48,004 1,106 2 % Total net sales: $ 124,885 $ 149,593 $ ( 24,708 ) - 17 % Cost of sales: U.S. crop $ 41,254 $ 54,200 $ ( 12,946 ) - 24 % U.S. non-crop 8,453 7,629 824 11 % Total U.S. 49,707 61,829 ( 12,122 ) - 20 % International 36,641 36,369 272 1 % Total cost of sales: $ 86,348 $ 98,198 $ ( 11,850 ) - 12 % Gross profit: U.S. crop $ 20,622 $ 33,993 $ ( 13,371 ) - 39 % U.S. non-crop 5,446 5,767 ( 321 ) - 6 % Total U.S. 26,068 39,760 ( 13,692 ) - 34 % International 12,469 11,635 834 7 % Total gross profit: $ 38,537 $ 51,395 $ ( 12,858 ) - 25 % Gross margin: U.S. crop 33 % 39 % U.S. non-crop 39 % 43 % Total U.S. 34 % 39 % International 25 % 24 % Gross margin: 31 % 34 %

Accrued Program Costs

Accrued Program Costs	3 Months Ended
	Mar. 31, 2023
Payables And Accruals [Abstract]
Accrued Program Costs	7. Accrued Program Costs — The Company offers various discounts to customers based on the volume purchased within a defined time period, other pricing adjustments, volume incentives or other key performance driven payments, which are usually made at the end of a growing season, to distributors, retailers or growers. The Company describes these payments as “Programs.” Programs are a critical part of doing business in both the U.S. crop and non-crop chemicals marketplaces. These discount Programs represent variable consideration. Revenues from sales are recorded at the net sales price, which is the transaction price net of the impact of Programs and includes estimates of variable consideration. Variable consideration includes amounts that are expected to be paid to its customers estimated using the expected value method. Each quarter management compares individual sale transactions with Programs to determine what, if any, estimated program liabilities have 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 makes adjustments to the accumulated accrual to properly reflect the Company’s best estimate of the liability at the balance sheet date. 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 months ended March 31, 2023 and 2022

Cash Dividends on Common Stock

Cash Dividends on Common Stock	3 Months Ended
	Mar. 31, 2023
Cash Dividends [Abstract]
Cash Dividend	8. Cash Dividends on Common Stock —The Company has declared and 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 March 13, 2023 March 24, 2023 April 14, 2023 $ 0.030 $ 851 December 12, 2022 December 28, 2022 January 11, 2023 $ 0.030 $ 851 March 14, 2022 March 25, 2022 April 15, 2022 $ 0.025 $ 736 December 13,2021 December 27, 2021 January 10, 2022 $ 0.020 $ 594

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	9. Earnings Per Share — The components of basic and diluted earnings per share were as follows: Three Months Ended 2023 2022 Numerator: Net income $ 1,918 $ 9,935 Denominator: Weighted average shares outstanding-basic 28,367 29,677 Dilutive effect of stock options and grants 706 672 Weighted average shares outstanding-diluted 29,073 30,349 For the three months ended March 31, 2023 and 2022, no stock options or restricted stock awards were excluded from the computation of diluted earnings per share.

Debt

Debt	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Debt	10. Debt — The Company has a revolving line of credit that is shown as long-term debt in the condensed consolidated balance sheets at March 31, 2023 and December 31, 2022. The Company has no short-term debt as of March 31, 2023 and December 31, 2022. The debt is summarized in the following table: Long-term indebtedness ($000's) March 31, 2023 December 31, 2022 Revolving line of credit $ 97,000 $ 52,300 Deferred loan fees ( 761 ) ( 823 ) Total indebtedness, net of deferred loan fees $ 96,239 $ 51,477 The deferred loan fees as of March 31, 2023 are included in other assets on the condensed consolidated balance sheets. The Company and certain of its affiliates are parties to a revolving line of credit agreement entitled the “Third Amended and Restated Loan and Security Agreement” dated as of August 5, 2021 (the “Credit Agreement”), which is a senior secured lending facility among AMVAC, the Company’s principal operating subsidiary, as Borrower Agent (including the Company and AMVAC BV), as Borrowers, on the one hand, and a group of commercial lenders led by Bank of the West as administrative agent, documentation agent, syndication agent, collateral agent and sole lead arranger, on the other hand. The Credit Agreement consists of a line of credit of up to $ 275,000 , an accordion feature of up to $ 150,000 , a letter of credit and swingline sub-facility (each having limits of $ 25,000 ) and has a maturity date of August 5, 2026 . The Credit Agreement amended and restated the previous credit facility, which had a maturity date of June 30, 2022. With respect to key financial covenants, the Credit Agreement contains two: namely, borrowers are required to maintain a Total Leverage (“TL”) Ratio of no more than 3.5 -to-1, during the first three years, stepping down to 3.25 -to-1 as of September 30, 2024, and a Fixed Charge Coverage Ratio ("FCCR") of at least 1.25 -to-1. In addition, to the extent that it completes acquisitions totaling $ 15 million or more in any 90-day period, AMVAC may step-up the TL Ratio by 0.5 -to-1, not to exceed 4.00 -to-1, for the next three full consecutive quarters. Acquisitions below $ 50 million do not require Agent consent. The Company’s borrowing capacity varies with its financial performance, measured in terms of Consolidated 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 Margin” which is based upon the Total Leverage (“TL”) Ratio (“LIBOR Revolver 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 Margin (“Adjusted Base Rate Revolver Loan”). The Company and the Lenders entered into an amendment to the Credit Agreement, effective March 9, 2023, whereby LIBOR was replaced by SOFR with a credit spread adjustment of 10.0 bps for all SOFR periods. The revolving loans now bear interest at a variable rate based at our election with proper notice, on either (i) SOFR plus 0.1% per annum and the “Applicable Margin” or (ii) the greater of (x) the Prime Rate, (y) the Federal Funds Rate plus 0.5%, and (z) the Daily One-Month SOFR Rate plus 1.10%, plus, in the case of (x), (y) or (z) the Applicable Margin (“Adjusted Base Rate Revolver Loan”). Interest payments for SOFR Revolver Loans are payable on the last day of each interest period (either one-, three- or six- months, as selected by the Company) and the maturity date, while interest payments for Adjusted Base Rate Revolver Loans are payable on the last business day of each month and the maturity date. The interest rate on March 31, 2023, was 6.53 %. As of March 31, 2023, the Company was in compliance with the TL Ratio but noncompliant with respect to the FCCR. The noncompliance was driven to the lesser extent by a reduction in the Consolidated EBITDA (in the numerator of the FCCR calculation) during the twelve months ended March 31, 2023, and to a greater extent by higher-than-normal distributions (in the denominator of the FCCR calculation) arising from share repurchases made by the Company during the same period. On May 8, 2023, the Company obtained a waiver of the FCCR for the twelve months ended March 31, 2023, and an adjustment to the FCCR terms for the period ending June 30, 2023. The impact of most of the share repurchases will disappear from the denominator in the FCCR calculation in the third quarter of 2023. At March 31, 2023, according to the terms of the Credit Agreement, as amended, and based on our performance against the most restrictive covenant listed above, the Company had the capacity to increase its borrowings by up to $ 111,922 . This compares to an available borrowing capacity of $ 200,372 as of December 31, 2022.

Classification Corrections

Classification Corrections	3 Months Ended
	Mar. 31, 2023
Text Block [Abstract]
Classification Corrections	11. Classification Corrections — A correction to the condensed consolidated statements of operations for the three months ended March 31, 2022 was made in connection with the Company’s operations in Australia, where the Company sells its products to distribution companies as well as directly to growers via third-party agents. The Company identified errors related to the classification of third-party agent’s commission amounts. The Company evaluated these errors and the impact to previously issued financial statements and concluded that the impact of this classification error is not material to any previously issued quarterly or annual financial statements. However, management has recorded a correction adjustment to previously reported financial statement line items and related disclosures. The third-party agents’ commission in the amount of $ 158 was reclassified from net sales to operating expenses. The impact was an increase in net sales and gross profit in the amount of $ 158 and an offsetting increase in operating expenses in the same amount. This correction did not have any impact on operating income, net income, and earnings per common share.

Change in Accounting Principle

Change in Accounting Principle	3 Months Ended
	Mar. 31, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
Change in Accounting Principle	12. Change in Accounting Principle — Historically, the Company included warehousing, handling and outbound freight costs in operating expenses on its Consolidated Statements of Operations. Effective January 1, 2023, the Company elected to include these costs in cost of sales instead of operating expenses on its condensed consolidated statements of operations. The effects of the change in accounting have been retrospectively applied to all periods presented. The Company believes that the change in accounting is preferable as it aligns the Company’s classification of this warehousing, handling and outbound freight costs in such a way as to present operational management with a clearer vision of the operational performance by business unit. This accounting change also increases the comparability of the Company’s financial performance with its peer companies as most peer companies include warehousing, handling and outbound freight costs in cost of sales rather than operating expenses. As a result, this change is intended to help interested parties better understand the Company’s performance and facilitate comparisons with most of the Company’s peer companies. The following table compares the Company’s historical classification with the classification after the adoption of the change in accounting for the three months ended March 31, 2023 and 2022: Classification after adoption of accounting change Historical classification For the three months ended March 31 For the three months ended March 31 2023 2022 2023 2022 Net sales $ 124,885 $ 149,593 $ 124,885 149,593 Cost of sales ( 86,348 ) ( 98,198 ) ( 77,093 ) ( 88,242 ) Gross profit 38,537 51,395 47,792 61,351 Operating expenses ( 35,272 ) ( 36,646 ) ( 44,527 ) ( 46,602 ) Operating income $ 3,265 $ 14,749 $ 3,265 $ 14,749 The change in accounting principle did not have any impact on operating income, net income and earnings per share.

Comprehensive Income

Comprehensive Income	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Comprehensive Income	13. Comprehensive Income — 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-month periods ended March 31, 2023 and 2022, total comprehensive income consisted of net income attributable to American Vanguard and foreign currency translation adjustments.

Stock Based Compensation

Stock Based Compensation	3 Months Ended
	Mar. 31, 2023
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Based Compensation	14. Stock-Based Compensation — The following tables illustrate the Company’s stock-based compensation, unamortized stock-based compensation, and remaining weighted average amortization period. Stock-Based Unamortized Remaining March 31, 2023 Time-Based Restricted Stock $ 1,198 $ 5,304 1.7 Unrestricted Stock 130 87 0.2 Performance-Based Restricted Stock 146 1,978 1.7 Total $ 1,474 $ 7,369 March 31, 2022 Time-Based Restricted Stock $ 993 $ 5,411 1.7 Unrestricted Stock 117 78 0.2 Performance-Based Restricted Stock 453 2,319 1.7 Total $ 1,563 $ 7,808 The Company also granted stock options in past periods. All outstanding stock options are fully vested and exercisable and no expense was recorded during the three months ended March 31, 2023 and 2022. Time-based Restricted and Unrestricted Stock — A summary of nonvested time based restricted and unrestricted stock is presented below: Three Months Ended Three Months Ended Number Weighted Number Weighted Nonvested shares at December 31 st 742,050 $ 18.86 817,290 $ 17.04 Vested ( 2,017 ) 15.71 ( 230,080 ) 17.31 Forfeited ( 5,479 ) 19.87 ( 24,109 ) 17.10 Nonvested shares at March 31 st 734,554 $ 18.86 563,101 $ 16.93 Performance-Based Restricted Stock — A summary of nonvested performance-based stock is presented below: Three Months Ended Three Months Ended Number Weighted Number Weighted Nonvested shares at December 31 st 318,699 $ 18.05 379,061 $ 16.43 Additional granted (forfeited) based on performance achievement — — ( 41,088 ) 16.56 Vested — — ( 78,704 ) 17.18 Forfeited — — ( 7,074 ) 16.77 Nonvested shares at March 31 st 318,699 $ 18.05 252,195 $ 16.17 Stock Options — A summary of stock options is presented below: Time-based Incentive Stock Option Plans Activity of the incentive stock option plans for the three months ended March 31, 2023: Number of Weighted Balance outstanding, December 31, 2022 68,896 $ 11.49 Options exercised ( 1,537 ) 11.49 Balance outstanding, March 31, 2023 67,359 $ 11.49 All outstanding stock options as of March 31, 2023 have an exercise price of $ 11.49 and a remaining life of 21 months. There was no activity during the three months ended March 31, 2022. There were 108,036 incentive stock options outstanding as of March 31, 2022 with an exercise price per share of $ 11.49 and a remaining life of 33 months. Performance-based Incentive Stock Option Plan There was no activity for the three months ended March 31, 2023 and 2022. There were 81,808 and 114,658 of performance incentive stock options outstanding as of March 31, 2023 and 2022, with an exercise price per share of $ 11.49 and a remaining life of 21 and 33 months, respectively.

Legal Proceedings

Legal Proceedings	3 Months Ended
	Mar. 31, 2023
Commitments And Contingencies Disclosure [Abstract]
Legal Proceedings	15. Legal Proceedings — During the reporting period, there have been no material developments in legal proceedings that were reported in the Company’s Form 10-K for the year ended December 31, 2022, except as described below. Department of Justice and Environmental Protection Agency Investigation . On November 10, 2016, AMVAC was served with a grand jury subpoena from the United States Attorney’s Office for the Southern District of Alabama, seeking documents regarding the importation, transportation, and management of a specific pesticide. The Company retained defense counsel to assist in responding to the subpoena and otherwise in defending the Company’s interests. AMVAC is cooperating in the investigation. After interviewing multiple witnesses (including three employees before a grand jury in February 2022) and making multiple document requests, the Department of Justice (“DoJ”) identified the Company and a manager-level employee as targets of the government’s investigation. DoJ’s investigation focused on potential violations of two environmental statutes, the Federal Insecticide, Fungicide, and Rodenticide Act (“FIFRA”) and the Resource Conservation and Recovery Act (“RCRA”), as well as obstruction of an agency proceeding and false statement statutes. In March 2022, the individual target entered into a plea agreement relating to provision of false information in a government proceeding. In July 2022, the DoJ sent correspondence to the Company’s counsel to the effect that it was focusing on potential RCRA violations relating to the reimportation of Australian containers in 2015. Our defense counsel spoke with DoJ on the subject in early October 2022, at which time DoJ expressed an interest in resolving the matter and stated that it would get back to the Company with its position. The governmental agencies involved in this investigation have a range of civil and criminal penalties they may seek to impose against corporations and individuals for violations of FIFRA, RCRA and other federal statutes including, but not limited to, injunctive relief, fines, penalties and modifications to business practices and compliance programs, including the appointment of a monitor. If violations are established, the amount of any fines or monetary penalties which could be assessed and the scope of possible non-monetary relief would depend on, among other factors, findings regarding the amount, timing, nature and scope of the violations, and the level of cooperation provided to the governmental authorities during the investigation. As a result, the Company cannot yet anticipate the timing or predict the ultimate resolution of this investigation, financial or otherwise, which could have a material adverse effect on our business prospects, operations, financial condition and cash flows. Accordingly, the Company has not recorded a loss contingency for this matter. Pitre etc. v. Agrocentre Ladauniere et al . On February 11, 2022, a strawberry grower named Les Enterprises Pitre, Inc. filed a complaint in the Superior Court, District of Labelle, Province of Quebec, Canada, entitled Pitre, etc. v. Agrocentre Ladauniere, Inc. etal, including Amvac Chemical Corporation , seeking damages in the amount of approximately $ 5 million arising from stunted growth of, and reduced yield from, its strawberry crop allegedly from the application of AMVAC’s soil fumigant, Vapam, in spring of 2021. Examinations of plaintiff were held in mid-August 2022, during which plaintiff in effect confirmed that he had planted his seedlings before expiration of the full-time interval following product application (as per the product label), that he had failed to follow the practice of planting a few test seedlings before planting an entire farm, and that he had placed his blind trust in his application adviser on all manner of timing and rate. An examination of the Company’s most knowledgeable witness is scheduled to take place in June 2023. The Company believes that the claims have no merit and intends to defend the matter. At this stage in the proceedings, there is not sufficient information to form a judgment as to either the probability or amount of loss; thus, the Company has not recorded a loss contingency for this matter. Catalano v. AMVAC Chemical Corp . On June 6, 2022, AMVAC was served with a summons and complaint for a matter entitled Andrew Catalano and Ruth Catalano v. AMVAC in the Superior Court of the State of California, County of Orange (30-2022-01263987-CU-PL-CXC) in which plaintiff, who worked as a professional applicator of pesticides, including Orthene (for which AMVAC is registrant) seeks damages for an injury (specifically, cardiomyopathy) allegedly arising from his exposure to this product. AMVAC is unaware of any link between cardiovascular disease and Orthene (which has been commercially available for over 30 years) and believes that this case has no merit and intends to defend it vigorously. The Company filed an answer in early July, including multiple affirmative defenses. Further, the parties continue to engage in discovery, and plaintiffs have been unable to supply any data establishing a causal link between use of this product and the heart condition that plaintiff alleges. At this stage, there is not sufficient information to form a judgment as to either the probability or amount of any loss; thus, the Company has not recorded a loss contingency for this matter. Notice of Intention to Suspend DCPA . On April 28, 2022, the USEPA published a notice of intent to suspend (“NOITS”) DCPA, the active ingredient of an herbicide marketed by the Company under the name Dacthal. The agency cited as the basis for the suspension that the Company did not take appropriate steps to provide data studies requested in support of the registration review. In fact, over the course of several years, the Company cooperated in performing the vast majority of the nearly 90 studies requested by USEPA and had been working in good faith to meet the agency’s schedule. After an appeals court (the Environmental Appeals Board) clarified the proper standard for use at the hearing (namely, whether registrant took appropriate steps to respond to the data call-in), a hearing was held in January 2023 before the ALJ, by which time USEPA had narrowed the scope of its claim to nine outstanding studies, all of which have been started by the Company and none of which are necessary for USEPA to commence its risk assessment. The parties have filed their post-hearing briefs, and the Company expects that the ALJ will render a decision in the near future. During the course of these proceedings, AMVAC has been free to make, sell and distribute both the technical grade material and end-use product and may continue to do so unless and until there is an adverse ruling at both the trial and appellate level (if any). The Company believes that a loss is neither probable nor estimable and, consequently, has not recorded a loss contingency for this matter.

Recent Issued Accounting Guidan

Recent Issued Accounting Guidance	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Change in Accounting Principle	16. Recent Issued Accounting Guidance — In March 2020, the FASB issued ASU 2020-04 Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, as amended and supplemented by subsequent ASUs (collectively, “ASU 2020-04” and “ASU 2022-06”), which provides practical expedients for contract modifications and certain hedging relationships associated with the transition from reference rates that are expected to be discontinued. This guidance is applicable for borrowing instruments, which use LIBOR as a reference rate, and is available through December 31, 2024. The Company has evaluated this ASU and does not expect its adoption to have a material impact on its condensed consolidated financial statements. The Company reviewed all other recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact to its condensed consolidated financial statements.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	17. Fair Value of Financial Instruments — The accounting standard for fair value measurements provides a framework for measuring fair value and requires expanded disclosures regarding fair value measurements. Fair value is defined as the price that would be received for an asset or the exit price that would be paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. This accounting standard established a fair value hierarchy, which requires an entity to maximize the use of observable inputs, where available. The following summarizes the three levels of inputs required: • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 – Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability. The carrying amount of the Company’s financial instruments, which principally include cash and cash equivalents, short-term investments, accounts receivable, accounts payable and accrued expenses, approximates fair value because of the relatively short maturity of such instruments. The carrying amount of the Company’s borrowings, which are considered Level 2 liabilities, approximates fair value as they bear interest at a variable rate at current market rates. The Company measures its contingent earn-out liabilities in connection with business acquisitions at fair value on a recurring basis using significant unobservable inputs classified within Level 3 of the fair value hierarchy. The Company may use various valuation techniques depending on the terms and conditions of the contingent consideration including a Monte-Carlo simulation. This simulation uses probability distribution for each significant input to produce hundreds or thousands of possible outcomes and the results are analyzed to determine probabilities of different outcomes occurring. The Company did no t have any contingent earn-out liabilities at March 31, 2023 and December 31, 2022. The following table illustrates the Company’s contingent consideration movements related to its business acquisitions as of and for the three months ended March 31, 2022: Three months ended Balance, December 31, 2021 $ 786 Fair value adjustment 599 Accretion of discounted liabilities 6 Foreign exchange effect 46 Balance, March 31, 2022 $ 1,437

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Accumulated Other Comprehensive Loss	18. Accumulated Other Comprehensive Loss — The following table lists the beginning balance, quarterly activity and ending balance of accumulated other comprehensive loss, which consists of foreign currency translation adjustments: Total Balance, December 31, 2022 $ ( 12,182 ) Foreign currency translation adjustment, net of tax effects of ($ 89 ) 2,546 Balance, March 31, 2023 $ ( 9,636 ) Balance, December 31, 2021 $ ( 13,784 ) Foreign currency translation adjustment, net of tax effects of ($ 48 ) 7,080 Balance, March 31, 2022 $ ( 6,704 )

Equity Investments

Equity Investments	3 Months Ended
	Mar. 31, 2023
Investments All Other Investments [Abstract]
Equity Investment	19. Equity Investments — In February 2016, AMVAC Netherlands BV made an investment in Biological Products for Agriculture (“Bi-PA”). Bi-PA develops biological plant protection products that can be used for the control of pests and disease of agricultural crops. As of March 31, 2023 and 2022, the Company’s ownership position in Bi-PA was 15 %. Since this investment does not have readily determinable fair value, the Company has elected to measure the investment at cost less impairment, if any, and also records an increase or decrease for changes resulting from observable price changes in orderly transactions for the identical or a similar investment of Bi-PA. The Company periodically reviews the investment for possible impairment. There was no impairment or observable price changes on the investment during the three months ended March 31, 2023 and 2022. The investment is recorded within other assets on the condensed consolidated balance sheets and amounted to $ 2,869 as of March 31, 2023 and December 31, 2022. On April 1, 2020, AMVAC purchased 6.25 million shares, an ownership of approximately 8 %, of common stock of Clean Seed Capital Group Ltd. (TSX Venture Exchange: “CSX”) for $ 1,190 . The shares are publicly traded, have a readily determinable fair value, and are considered a Level 1 investment. The fair value of the stock amounted to $ 762 and $ 784 as of March 31, 2023 and December 31, 2022, respectively. The Company recorded a loss of $ 22 and a gain of $ 83 for the three months ended March 31, 2023 and 2022, respectively. The investment is recorded within other assets on the condensed consolidated balance sheets.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	20. Income Taxes — Income tax benefit was $ 361 for the three months ended March 31, 2023, as compared to income tax expense of $ 4,499 for the three-months ended March 31, 2022. The effective income tax rate for the three months ended March 31, 2023 was computed based on the estimated effective tax rate for the full year, adjusted for a benefit from the remeasurement of certain U.S. federal and state deferred taxes, partially offset by an expense attributed to establishing liabilities for uncertain tax positions in the U.S. and India. This calculation resulted in an effective tax rate of minus 23.2 % for the three months ended March 31, 2023, as compared to 31.2 % for the three months ended March 31, 2022. It is expected that $ 1,550 of unrecognized tax benefits will be released within the next twelve months due to expiration of the statute of limitations.

Stock Re-purchase Program

Stock Re-purchase Program	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Stock Re-purchase Program	21. Stock Re-purchase Program — On March 8, 2022, pursuant to a Board of Directors resolution, the Company announced its intention to repurchase an aggregate number of up to 1,000,000 shares of its common stock under a 10b5-1 plan, par value $ 0.10 per share, in the open market over the succeeding one year, subject to limitations and restrictions under applicable securities laws. During 2022 and 2023, the Company purchased 761,985 shares of its common stock for a total of $ 14,558 at an average price of $ 19.11 per share. The 10b5-1 plan terminated on March 8, 2023. The table below summarizes the number of shares of the Company’s common stock that were repurchased during the three months ended March 31, 2023 and 2022. Three months ended Total number of Average price paid Total amount paid Maximum number of shares that may yet be purchased under the plan March 31, 2023 27,835 $ 19.96 $ 557 — March 31, 2022 332,404 $ 18.71 $ 6,219 667,596

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2023
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Supplemental Cash Flow Information	22. Supplemental Cash Flow Information For the three months Cash paid during the period: 2023 2022 Interest $ 1,316 $ 387 Income taxes, net $ 2,104 $ 1,454 Non-cash transactions: Deferred consideration in connection with business acquisitions: — $ 599 Cash dividends declared and included in accrued expenses $ 851 $ 736

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Schedule of Other Information of Operating Leases	Other information related to operating leases follows: Three months Three months Cash paid for amounts included in the measurement of lease liabilities $ 1,644 $ 1,674 Right-of-use assets obtained in exchange for new liabilities $ 1,884 $ 926
Schedule of Weighted-Average Remaining Lease Term and Discount Rate Related to Operating Leases	The weighted-average remaining lease term and discount rate related to the operating leases as of March 31, 2023 were as follows: Weighted-average remaining lease term (in years) 5.68 Weighted-average discount rate 4.12 %
Schedule of Future Minimum Lease Payments Under Non-Cancellable Operating Leases	Future minimum lease payments under non-cancellable operating leases as of March 31, 2023 were as follows: 2023 (excluding three months ended March 31, 2023) $ 4,625 2024 5,657 2025 5,143 2026 3,926 2027 2,662 Thereafter 6,200 Total lease payments $ 28,213 Less: imputed interest ( 3,232 ) Total $ 24,981 Amounts recognized in the condensed consolidated balance sheet: Operating lease liabilities, current $ 5,367 Operating lease liabilities, long term $ 19,614

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue From Contract With Customer [Abstract]
Summary of Selective Enterprise Information of Sales Disaggregated By Category and Geographic Region	Selective enterprise information of sales disaggregated by category and geographic region is as follows: Three Months Ended 2023 2022 Net sales: U.S. crop $ 61,876 $ 88,193 U.S. non-crop 13,899 13,396 Total U.S. 75,775 101,589 International 49,110 48,004 Total net sales: $ 124,885 $ 149,593 Timing of revenue recognition: Goods and services transferred at a point in time $ 124,842 $ 149,487 Goods and services transferred over time 43 106 Total net sales: $ 124,885 $ 149,593

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2023
Property Plant And Equipment [Abstract]
Summary of Property, Plant and Equipment	March 31, December 31, Land $ 2,761 $ 2,757 Buildings and improvements 20,918 20,794 Machinery and equipment 146,047 142,980 Office furniture, fixtures and equipment 11,266 13,231 Automotive equipment 1,490 1,584 Construction in progress 4,622 5,897 Total 187,104 187,243 Less accumulated depreciation ( 115,566 ) ( 116,331 ) Property, plant and equipment, net $ 71,538 $ 70,912

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Components of Inventories	The components of inventories consist of the following: March 31, December 31, Finished products $ 185,992 $ 155,128 Raw materials 33,088 29,062 Inventories $ 219,080 $ 184,190

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Summary of Business Sales Segmentation	Based on similar economic and operational characteristics, the Company’s business is aggregated into one reportable segment. Selective enterprise information is as follows: For the three months ended 2023 2022 Change % Change Net sales: U.S. crop $ 61,876 $ 88,193 $ ( 26,317 ) - 30 % U.S. non-crop 13,899 13,396 503 4 % Total U.S. 75,775 101,589 ( 25,814 ) - 25 % International 49,110 48,004 1,106 2 % Total net sales: $ 124,885 $ 149,593 $ ( 24,708 ) - 17 % Cost of sales: U.S. crop $ 41,254 $ 54,200 $ ( 12,946 ) - 24 % U.S. non-crop 8,453 7,629 824 11 % Total U.S. 49,707 61,829 ( 12,122 ) - 20 % International 36,641 36,369 272 1 % Total cost of sales: $ 86,348 $ 98,198 $ ( 11,850 ) - 12 % Gross profit: U.S. crop $ 20,622 $ 33,993 $ ( 13,371 ) - 39 % U.S. non-crop 5,446 5,767 ( 321 ) - 6 % Total U.S. 26,068 39,760 ( 13,692 ) - 34 % International 12,469 11,635 834 7 % Total gross profit: $ 38,537 $ 51,395 $ ( 12,858 ) - 25 % Gross margin: U.S. crop 33 % 39 % U.S. non-crop 39 % 43 % Total U.S. 34 % 39 % International 25 % 24 % Gross margin: 31 % 34 %

Cash Dividends on Common Stock

Cash Dividends on Common Stock (Tables)	3 Months Ended
	Mar. 31, 2023
Cash Dividends [Abstract]
Cash Dividend	Cash Dividends on Common Stock —The Company has declared and 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 March 13, 2023 March 24, 2023 April 14, 2023 $ 0.030 $ 851 December 12, 2022 December 28, 2022 January 11, 2023 $ 0.030 $ 851 March 14, 2022 March 25, 2022 April 15, 2022 $ 0.025 $ 736 December 13,2021 December 27, 2021 January 10, 2022 $ 0.020 $ 594

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
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 2023 2022 Numerator: Net income $ 1,918 $ 9,935 Denominator: Weighted average shares outstanding-basic 28,367 29,677 Dilutive effect of stock options and grants 706 672 Weighted average shares outstanding-diluted 29,073 30,349

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Summary of Revolving Line of Credit	The debt is summarized in the following table: Long-term indebtedness ($000's) March 31, 2023 December 31, 2022 Revolving line of credit $ 97,000 $ 52,300 Deferred loan fees ( 761 ) ( 823 ) Total indebtedness, net of deferred loan fees $ 96,239 $ 51,477

Change in Accounting Principle

Change in Accounting Principle (Tables)	3 Months Ended
	Mar. 31, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
Schedule of classification after the adoption of the change in accounting	The following table compares the Company’s historical classification with the classification after the adoption of the change in accounting for the three months ended March 31, 2023 and 2022: Classification after adoption of accounting change Historical classification For the three months ended March 31 For the three months ended March 31 2023 2022 2023 2022 Net sales $ 124,885 $ 149,593 $ 124,885 149,593 Cost of sales ( 86,348 ) ( 98,198 ) ( 77,093 ) ( 88,242 ) Gross profit 38,537 51,395 47,792 61,351 Operating expenses ( 35,272 ) ( 36,646 ) ( 44,527 ) ( 46,602 ) Operating income $ 3,265 $ 14,749 $ 3,265 $ 14,749 The change in accounting principle did not have any impact on operating income, net income and earnings per share.

Stock Based Compensation (Table

Stock Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
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 amortization period. Stock-Based Unamortized Remaining March 31, 2023 Time-Based Restricted Stock $ 1,198 $ 5,304 1.7 Unrestricted Stock 130 87 0.2 Performance-Based Restricted Stock 146 1,978 1.7 Total $ 1,474 $ 7,369 March 31, 2022 Time-Based Restricted Stock $ 993 $ 5,411 1.7 Unrestricted Stock 117 78 0.2 Performance-Based Restricted Stock 453 2,319 1.7 Total $ 1,563 $ 7,808
Incentive Stock Option Plans	Activity of the incentive stock option plans for the three months ended March 31, 2023: Number of Weighted Balance outstanding, December 31, 2022 68,896 $ 11.49 Options exercised ( 1,537 ) 11.49 Balance outstanding, March 31, 2023 67,359 $ 11.49
Restricted and Unrestricted Stock
Summary of Non-Vested Shares	Restricted and Unrestricted Stock — A summary of nonvested time based restricted and unrestricted stock is presented below: Three Months Ended Three Months Ended Number Weighted Number Weighted Nonvested shares at December 31 st 742,050 $ 18.86 817,290 $ 17.04 Vested ( 2,017 ) 15.71 ( 230,080 ) 17.31 Forfeited ( 5,479 ) 19.87 ( 24,109 ) 17.10 Nonvested shares at March 31 st 734,554 $ 18.86 563,101 $ 16.93
Performance Based Restricted Stock
Summary of Non-Vested Shares	Performance-Based Restricted Stock — A summary of nonvested performance-based stock is presented below: Three Months Ended Three Months Ended Number Weighted Number Weighted Nonvested shares at December 31 st 318,699 $ 18.05 379,061 $ 16.43 Additional granted (forfeited) based on performance achievement — — ( 41,088 ) 16.56 Vested — — ( 78,704 ) 17.18 Forfeited — — ( 7,074 ) 16.77 Nonvested shares at March 31 st 318,699 $ 18.05 252,195 $ 16.17

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Summary of Fair Value Measuring on Recurring Basis of Contingent Consideration	The following table illustrates the Company’s contingent consideration movements related to its business acquisitions as of and for the three months ended March 31, 2022: Three months ended Balance, December 31, 2021 $ 786 Fair value adjustment 599 Accretion of discounted liabilities 6 Foreign exchange effect 46 Balance, March 31, 2022 $ 1,437

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Beginning Balance, Quarterly Activity and Ending Balance of Foreign Currency Translation Adjustment Included as Component of Accumulated Other Comprehensive Loss	The following table lists the beginning balance, quarterly activity and ending balance of accumulated other comprehensive loss, which consists of foreign currency translation adjustments: Total Balance, December 31, 2022 $ ( 12,182 ) Foreign currency translation adjustment, net of tax effects of ($ 89 ) 2,546 Balance, March 31, 2023 $ ( 9,636 ) Balance, December 31, 2021 $ ( 13,784 ) Foreign currency translation adjustment, net of tax effects of ($ 48 ) 7,080 Balance, March 31, 2022 $ ( 6,704 )

Stock Re-purchase Program (Tabl

Stock Re-purchase Program (Tables)	3 Months Ended
	Mar. 31, 2023
Equity Class Of Treasury Stock [Line Items]
Summary of Number of Shares of Common Stock Repurchased	The table below summarizes the number of shares of the Company’s common stock that were repurchased during the three months ended March 31, 2023 and 2022. Three months ended Total number of Average price paid Total amount paid Maximum number of shares that may yet be purchased under the plan March 31, 2023 27,835 $ 19.96 $ 557 — March 31, 2022 332,404 $ 18.71 $ 6,219 667,596

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2023
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Schedule of Supplemental Cash Flow Information	For the three months Cash paid during the period: 2023 2022 Interest $ 1,316 $ 387 Income taxes, net $ 2,104 $ 1,454 Non-cash transactions: Deferred consideration in connection with business acquisitions: — $ 599 Cash dividends declared and included in accrued expenses $ 851 $ 736

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Line Items]
Operating lease expenses	$ 1,637	$ 1,604
Minimum
Leases [Line Items]
Operating lease term	1 year
Maximum
Leases [Line Items]
Operating lease term	20 years

Leases - Schedule of Additional

Leases - Schedule of Additional Information of Operating Leases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 1,644	$ 1,674
Right-of-use assets obtained in exchange for new liabilities	$ 1,884	$ 926
Weighted-average remaining lease term (in years)	5 years 8 months 4 days
Weighted-average discount rate	4.12%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments Under Non-Cancellable Operating Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2023 (excluding Three months ended March 31, 2023)	$ 4,625
2024	5,657
2025	5,143
2026	3,926
2027	2,662
Thereafter	6,200
Total lease payments	28,213
Less: imputed interest	(3,232)
Total	24,981
Amounts recognized in the Condensed Consolidated Balance Sheets:
Operating lease liabilities, current	5,367	$ 5,279
Operating lease liabilities, long term	$ 19,614	$ 19,492

Lease - Schedule of Weighted-Av

Lease - Schedule of Weighted-Average Remaining Lease Term and Discount Rate Related to Operating Leases (Details)	Mar. 31, 2023
Leases [Abstract]
Weighted-average remaining lease term (in years)	5 years 8 months 4 days
Weighted-average discount rate	4.12%

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Disaggregation Of Revenue [Line Items]
Contract assets	$ 3,100,000		$ 3,100,000
Short-term contract assets			2,098,000
Long-term contract assets			1,002,000
Revenue recognized	22,759	$ 17,500
Other Receivables
Disaggregation Of Revenue [Line Items]
Short-term contract assets	$ 2,295,000
Long-term contract assets			$ 805,000

Revenue Recognition - Summary o

Revenue Recognition - Summary of Selective Enterprise Information of Sales Disaggregated By Category and Geographic Region (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation Of Revenue [Line Items]
Net sales	$ 124,885	$ 149,593
US
Disaggregation Of Revenue [Line Items]
Net sales	75,775	101,589
US | Crop
Disaggregation Of Revenue [Line Items]
Net sales	61,876	88,193
US | Non-Crop
Disaggregation Of Revenue [Line Items]
Net sales	13,899	13,396
International
Disaggregation Of Revenue [Line Items]
Net sales	49,110	48,004
Goods and Services Transferred at a Point in Time
Disaggregation Of Revenue [Line Items]
Net sales	124,842	149,487
Goods and Services Transferred Over Time
Disaggregation Of Revenue [Line Items]
Net sales	$ 43	$ 106

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total gross value	$ 187,104	$ 187,243
Less accumulated depreciation	(115,566)	(116,331)
Total net value	71,538	70,912
Land
Property, Plant and Equipment [Line Items]
Total gross value	2,761	2,757
Buildings and improvements
Property, Plant and Equipment [Line Items]
Total gross value	20,918	20,794
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total gross value	146,047	142,980
Office furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Total gross value	11,266	13,231
Automotive equipment
Property, Plant and Equipment [Line Items]
Total gross value	1,490	1,584
Construction in progress
Property, Plant and Equipment [Line Items]
Total gross value	$ 4,622	$ 5,897

Property, Plant And Equipment_2

Property, Plant And Equipment - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Property Plant And Equipment [Abstract]
Depreciation expense related to property, plant and equipment	$ 2,179	$ 2,103

Components of Inventories (Deta

Components of Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished products	$ 185,992	$ 155,128
Raw materials	33,088	29,062
Inventories	$ 219,080	$ 184,190

Segment Reporting - Schedule of

Segment Reporting - Schedule of Selective enterprise information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net sales:
Net sales	$ 124,885	$ 149,593
Change in net sales	$ (24,708)
Percentage change in net sales	(17.00%)
Cost of sales:
Cost of sales	$ 86,348	98,198
Change in cost of sales	$ (11,850)
Percentage change in cost of sales	(12.00%)
Gross profit:
Gross profit	$ 38,537	$ 51,395
Change in gross profit	$ (12,858)
Percentage change in gross profit	(25.00%)
Gross margin:
Percentage of gross margin	31%	34%
US Crop
Net sales:
Net sales	$ 61,876	$ 88,193
Change in net sales	$ (26,317)
Percentage change in net sales	(30.00%)
Cost of sales:
Cost of sales	$ 41,254	54,200
Change in cost of sales	$ (12,946)
Percentage change in cost of sales	(24.00%)
Gross profit:
Gross profit	$ 20,622	$ 33,993
Change in gross profit	$ (13,371)
Percentage change in gross profit	(39.00%)
Gross margin:
Percentage of gross margin	33%	39%
US Non-Crop
Net sales:
Net sales	$ 13,899	$ 13,396
Change in net sales	$ 503
Percentage change in net sales	4%
Cost of sales:
Cost of sales	$ 8,453	7,629
Change in cost of sales	$ 824
Percentage change in cost of sales	11%
Gross profit:
Gross profit	$ 5,446	$ 5,767
Change in gross profit	$ (321)
Percentage change in gross profit	(6.00%)
Gross margin:
Percentage of gross margin	39%	43%
US
Net sales:
Net sales	$ 75,775	$ 101,589
Change in net sales	$ (25,814)
Percentage change in net sales	(25.00%)
Cost of sales:
Cost of sales	$ 49,707	61,829
Change in cost of sales	$ (12,122)
Percentage change in cost of sales	(20.00%)
Gross profit:
Gross profit	$ 26,068	$ 39,760
Change in gross profit	$ (13,692)
Percentage change in gross profit	(34.00%)
Gross margin:
Percentage of gross margin	34%	39%
International
Net sales:
Net sales	$ 49,110	$ 48,004
Change in net sales	$ 1,106
Percentage change in net sales	2%
Cost of sales:
Cost of sales	$ 36,641	36,369
Change in cost of sales	$ 272
Percentage change in cost of sales	1%
Gross profit:
Gross profit	$ 12,469	$ 11,635
Change in gross profit	$ 834
Percentage change in gross profit	7%
Gross margin:
Percentage of gross margin	25%	24%

Summary of Business Sales by Pr

Summary of Business Sales by Product and Geographic Location (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net sales:
Net sales	$ 124,885	$ 149,593
Change in net sales	$ (24,708)
Percentage change in net sales	(17.00%)
Gross profit:
Gross profit	$ 38,537	51,395
Change in gross profit	(12,858)
US
Net sales:
Net sales	75,775	101,589
Change in net sales	$ (25,814)
Percentage change in net sales	(25.00%)
Gross profit:
Gross profit	$ 26,068	39,760
Change in gross profit	(13,692)
US | Crop
Net sales:
Net sales	61,876	88,193
US | Non-Crop
Net sales:
Net sales	13,899	13,396
International
Net sales:
Net sales	49,110	48,004
Change in net sales	$ 1,106
Percentage change in net sales	2%
Gross profit:
Gross profit	$ 12,469	$ 11,635
Change in gross profit	$ 834

Cash Dividends on Common Stoc_2

Cash Dividends on Common Stock (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Cash dividend declaration date	Mar. 13, 2023	Mar. 14, 2022	Dec. 12, 2022	Dec. 13, 2021
Cash dividend record date	Mar. 24, 2023	Mar. 25, 2022	Dec. 28, 2022	Dec. 27, 2021
Cash dividend distributed date	Apr. 14, 2023	Apr. 15, 2022	Jan. 11, 2023	Jan. 10, 2022
Cash dividend per share	$ 0.030	$ 0.025	$ 0.030	$ 0.020
Cash dividend paid	$ 851	$ 736	$ 851	$ 594

Earnings Per Share - Components

Earnings Per Share - Components of Basic and Diluted Earnings Per Share (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Numerator:
Net income	$ 1,918	$ 9,935
Denominator: (in thousands)
Weighted average shares outstanding-basic	28,367	29,677
Dilutive effect of stock options and grants	706	672
Weighted average shares outstanding-diluted	29,073	30,349

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Stock options excluded from computation of diluted earning per share	0	0

Debt - Additional Information (

Debt - Additional Information (Detail) - Senior Secured Revolving Line of Credit - USD ($) $ in Thousands		3 Months Ended
	Jun. 30, 2017	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Aggregate principal amount		$ 275,000
Credit agreement, covenant description		the Credit Agreement contains two: namely, borrowers are required to maintain a Total Leverage (“TL”) Ratio of no more than 3.5-to-1, during the first three years, stepping down to 3.25-to-1 as of September 30, 2024, and a Fixed Charge Coverage Ratio ("FCCR") of at least 1.25-to-1. In addition, to the extent that it completes acquisitions totaling $15 million or more in any 90-day period, AMVAC may step-up the TL Ratio by 0.5-to-1, not to exceed 4.00-to-1, for the next three full consecutive quarters.
Consolidated funded debt ratio		3.25%
Senior secured credit facility, maturity date		Aug. 05, 2026
Credit agreement, variable rate description		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 Margin” which is based upon the Total Leverage (“TL”) Ratio (“LIBOR Revolver 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 Margin (“Adjusted Base Rate Revolver Loan”). The Company and the Lenders entered into an amendment to the Credit Agreement, effective March 9, 2023, whereby LIBOR was replaced by SOFR with a credit spread adjustment of 10.0 bps for all SOFR periods. The revolving loans now bear interest at a variable rate based at our election with proper notice, on either (i) SOFR plus 0.1% per annum and the “Applicable Margin” or (ii) the greater of (x) the Prime Rate, (y) the Federal Funds Rate plus 0.5%, and (z) the Daily One-Month SOFR Rate plus 1.10%, plus, in the case of (x), (y) or (z) the Applicable Margin (“Adjusted Base Rate Revolver Loan”). Interest payments for SOFR Revolver Loans are payable on the last day of each interest period (either one-, three- or six- months, as selected by the Company)
Credit agreement, interest rate		6.53%
Federal Funds Rate
Debt Instrument [Line Items]
Credit agreement, variable rate basis	0.50%
One-Month LIBOR Rate
Debt Instrument [Line Items]
Credit agreement, variable rate basis	1%
Adjusted Base Rate
Debt Instrument [Line Items]
Credit agreement, interest payment period, description		last business day of each
Term Loan
Debt Instrument [Line Items]
Accordion feature		$ 150,000
Credit Agreement
Debt Instrument [Line Items]
Available borrowings capacity under credit agreement			$ 200,372
Consolidated funded debt ratio		0.50%
Maximum
Debt Instrument [Line Items]
Available borrowings capacity under credit agreement		$ 25,000
Consolidated funded debt ratio		3.50%
Maximum | Credit Agreement
Debt Instrument [Line Items]
Consolidated funded debt ratio		4%
Joint venture, consideration		$ 50,000
Capacity to increase borrowings under credit agreement		$ 111,922
Minimum
Debt Instrument [Line Items]
Consolidated fixed charge covenant ratio		1.25%
Minimum | Credit Agreement
Debt Instrument [Line Items]
Joint venture, consideration		$ 15,000

Debt - Summary of Revolving Lin

Debt - Summary of Revolving Line of Credit (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Revolving line of credit	$ 97,000	$ 52,300
Deferred loan fees	(761)	(823)
Total indebtedness, net of deferred loan fees	$ 96,239	$ 51,477

Classification Corrections (Add

Classification Corrections (Additional Information) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Text Block [Abstract]
Reclassification of commission for third party agents	$ 158
Increase in net sales and gross profit	$ 158

Change in Accounting Principl_2

Change in Accounting Principle - Schedule of classification after the adoption of the change in accounting (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net sales	$ 124,885	$ 149,593
Cost of sales	86,348	98,198
Gross profit	38,537	51,395
Operating expenses	35,272	36,646
Operating income	3,265	14,749
Classification after adoption of accounting change [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net sales	124,885	149,593
Cost of sales	(86,348)	(98,198)
Gross profit	38,537	51,395
Operating expenses	(35,272)	(36,646)
Operating income	3,265	14,749
Historical classification [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net sales	124,885	149,593
Cost of sales	(77,093)	(88,242)
Gross profit	47,792	61,351
Operating expenses	(44,527)	(46,602)
Operating income	$ 3,265	$ 14,749

Stock-Based Compensation - Unam

Stock-Based Compensation - Unamortized Stock-Based Compensation Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-Based Compensation	$ 1,474	$ 1,563
Unamortized Stock-Based Compensation	7,369	7,808
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-Based Compensation	1,198	993
Unamortized Stock-Based Compensation	$ 5,304	$ 5,411
Remaining Weighted Average Period (years)	1 year 8 months 12 days	1 year 8 months 12 days
Unrestricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-Based Compensation	$ 130	$ 117
Unamortized Stock-Based Compensation	$ 87	$ 78
Remaining Weighted Average Period (years)	2 months 12 days	2 months 12 days
Performance Based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-Based Compensation	$ 146	$ 453
Unamortized Stock-Based Compensation	$ 1,978	$ 2,319
Remaining Weighted Average Period (years)	1 year 8 months 12 days	1 year 8 months 12 days

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Time-based Restricted and Unrestricted Stock (Detail) - Restricted and Unrestricted Stock - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Beginning balance	742,050	817,290
Number of Shares, Vested	(2,017)	(230,080)
Number of Shares, Forfeited	(5,479)	(24,109)
Number of Shares, Ending Balance	734,554	563,101
Weighted Average Grant-Date Fair Value, Beginning balance	$ 18.86	$ 17.04
Weighted Average Grant-Date Fair Value, Vested	15.71	17.31
Weighted Average Grant-Date Fair Value, Forfeited	19.87	17.10
Weighted Average Grant-Date Fair Value, Ending balance	$ 18.86	$ 16.93

Stock-Based Compensation - Stat

Stock-Based Compensation - Status Summary of Performance-Based Restricted Stock (Detail) - Performance Based Restricted Stock - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Beginning balance	318,699	379,061
Additional granted (forfeited) based on performance achievement		(41,088)
Number of Shares, Vested		(78,704)
Number of Shares, Forfeited		(7,074)
Number of Shares, Ending Balance	318,699	252,195
Weighted Average Grant-Date Fair Value, Beginning balance	$ 18.05	$ 16.43
Weighted Average Grant-Date Fair Value, Additional granted (forfeited) based on performance		16.56
Weighted Average Grant-Date Fair Value, Vested		17.18
Weighted Average Grant-Date Fair Value, Forfeited		16.77
Weighted Average Grant-Date Fair Value, Ending balance	$ 18.05	$ 16.17

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Time-based Incentive Stock Option Plans (Detail) - Incentive Stock Options	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive Stock Option Plans, Beginning balance | shares	68,896
Incentive Stock Option Plans, Option exercised | shares	(1,537)
Incentive Stock Option Plans, Ending balance | shares	67,359
Weighted Average Price Per Share, Beginning balance | $ / shares	$ 11.49
Weighted Average Price Per Share, Option exercised | $ / shares	11.49
Weighted Average Price Per Share, Ending balance | $ / shares	$ 11.49

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of exercise price (Details) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Incentive Stock Options
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Weighted Average Price Per Share, Ending balance	$ 11.49	$ 11.49

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive Stock Options Outstanding		108,036
Performance Based Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price per share	$ 11.49	$ 11.49
Total intrinsic value	$ 81,808	$ 114,658
Outstanding weighted average, remaining life (months)	21 months	33 months
Incentive Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price per share	$ 11.49	$ 11.49	$ 11.49
Outstanding weighted average, remaining life (months)	21 months	33 months
Incentive Stock Options Outstanding	67,359		68,896

Stock-Based Compensation - Su_4

Stock-Based Compensation - Summary of Performance option activity (Detail)	3 Months Ended
	Mar. 31, 2023 $ / shares
Performance Based Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Price Per Share, Ending balance	$ 11.49

Legal Proceeding Additional Inf

Legal Proceeding Additional Information (Details) $ in Millions	Feb. 11, 2022 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Arising from stunted growth	$ 5

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Summary of Fair Value Measuring on Recurring Basis of Contingent Consideration (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Fair Value Disclosures [Abstract]
Beginning balance	$ 786
Fair value adjustment	599
Accretion of discounted liabilities	6
Foreign exchange effect	46
Ending balance	$ 1,437

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Business combination contingent consideration liability	$ 0	$ 0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss-Summary of Beginning Balance, Quarterly Activity and Ending Balance of Foreign Currency Translation Adjustment Included as Component of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 369,979	$ 372,738
Foreign currency translation adjustment, net of tax effects	2,546	7,080
Balance	374,994	382,623
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(12,182)	(13,784)
Foreign currency translation adjustment, net of tax effects	2,546	7,080
Balance	$ (9,636)	$ (6,704)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss-Summary of Beginning Balance, Quarterly Activity and Ending Balance of Foreign Currency Translation Adjustment Included as Component of Accumulated Other Comprehensive Loss (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Equity [Abstract]
Foreign currency translation adjustment, tax effect	$ 89	$ 48

Equity Investment - Additional

Equity Investment - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended
	Apr. 01, 2020	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Schedule Of Equity Method Investments [Line Items]
Gain (loss) from equity method investment		$ (22)	$ 83
Bi Pa
Schedule Of Equity Method Investments [Line Items]
Cost method ownership percentage		15%	15%
Impairment of investments		$ 0	$ 0
Investments value		2,869		$ 2,869
Clean Seed Capital Group Ltd
Schedule Of Equity Method Investments [Line Items]
Equity Method Investment Shares Purchased	6,250,000
Equity investment ownership position	8%
Joint venture, consideration	$ 1,190
Fair value of stock		762		$ 784
Losses from equity method investment		(22)	(22)
Gain (loss) from equity method investment		$ 83	$ 83

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income tax benefit (expense)	$ 361	$ (4,499)
Federal income tax rate	23.20%	31.20%
Unrecognized tax benefits	$ 1,550

Stock Re-purchase Program - Add

Stock Re-purchase Program - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Mar. 08, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Equity Class Of Treasury Stock [Line Items]
Number of shares purchased		761,985	761,985
Common stock, par value per share		$ 0.10		$ 0.10
Repurchase of common stock		$ 557	$ 6,219
Treasury Stock, Value, Acquired, Par Value Method		$ 14,558
Initial shares delivered		761,985	761,985
Average price paid per share		$ 19.11
Common Stock
Equity Class Of Treasury Stock [Line Items]
Number of shares purchased	1,000,000
Common stock, par value per share	$ 0.10
Initial shares delivered	1,000,000
Common Stock | Share Repurchase Arrangement
Equity Class Of Treasury Stock [Line Items]
Number of shares purchased		27,835	332,404
Initial shares delivered		27,835	332,404
Treasury stock acquired, value		$ 557	$ 6,219
Average price paid per share		$ 19.96	$ 18.71

Summary of Number of Shares of

Summary of Number of Shares of Common Stock Repurchased (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Mar. 08, 2022	Mar. 31, 2023	Mar. 31, 2022
Equity Class Of Treasury Stock [Line Items]
Number of shares purchased		761,985	761,985
Average price paid per share		$ 19.11
Common Stock
Equity Class Of Treasury Stock [Line Items]
Number of shares purchased	1,000,000
Common Stock | Share Repurchase Arrangement
Equity Class Of Treasury Stock [Line Items]
Number of shares purchased		27,835	332,404
Average price paid per share		$ 19.96	$ 18.71
Total amount paid		$ 557	$ 6,219
Maximum number of shares that may yet be purchased under the plan		0	667,596

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Schedule Of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Supplemental Cash Flow Information [Abstract]
Interest	$ 1,316	$ 387
Income taxes, net	2,104	1,454
Non-cash transactions:
Deferred consideration in connection with business acquisitions:	0	599
Cash dividends declared and included in accrued expenses	$ 851	$ 736