AgroFresh Solutions (AGFS) annual balance sheet covering fiscal 2017 through 2022, as reported to the SEC.
Total assets have shrunk 6.6% a year on average since fiscal 2017, from $983.26M to $697.71M.
A balance sheet shows what a company owns and what it owes on a single date. The difference between the two belongs to shareholders.
| Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS | |||||||||||||||||||||
Current Assets: | |||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||
54,355 | 61,930 | 50,030 | 29,288 | 34,852 | 64,533 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash and cash equivalents | 54,355 | 61,930 | 50,030 | 29,288 | 34,852 | 64,533 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts receivable, net of allowance for doubtful accounts of $1,920 and $2,143, respectively | |||||||||||||||||||||
58,407 | 53,538 | 63,204 | 68,634 | 67,942 | 71,509 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts receivable, net of allowance for doubtful accounts of $1,920 and $2,143, respectively | 58,407 | 53,538 | 63,204 | 68,634 | 67,942 | 71,509 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Inventories | |||||||||||||||||||||
25,428 | 19,780 | 24,579 | 22,621 | 24,807 | 24,109 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Inventories | 25,428 | 19,780 | 24,579 | 22,621 | 24,807 | 24,109 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other current assets | |||||||||||||||||||||
20,540 | 19,878 | 17,219 | 11,802 | 15,608 | 18,684 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other current assets | 20,540 | 19,878 | 17,219 | 11,802 | 15,608 | 18,684 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Prepaid expenses | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Prepaid expenses | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total Current Assets | |||||||||||||||||||||
158,730 | 155,126 | 155,032 | 132,345 | 143,209 | 178,835 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total Current Assets | 158,730 | 155,126 | 155,032 | 132,345 | 143,209 | 178,835 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Property and equipment, net | |||||||||||||||||||||
11,698 | 11,986 | 12,432 | 13,177 | 13,289 | 12,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Property and equipment, net | 11,698 | 11,986 | 12,432 | 13,177 | 13,289 | 12,200 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Goodwill | |||||||||||||||||||||
- | - | 6,925 | 6,323 | 6,670 | 9,402 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Goodwill | - | - | 6,925 | 6,323 | 6,670 | 9,402 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Intangible assets, net | |||||||||||||||||||||
504,441 | 546,652 | 589,201 | 631,369 | 711,967 | 757,882 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Intangible assets, net | 504,441 | 546,652 | 589,201 | 631,369 | 711,967 | 757,882 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred income tax assets | |||||||||||||||||||||
10,365 | 7,392 | 9,699 | 10,317 | 7,332 | 8,198 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred income tax assets | 10,365 | 7,392 | 9,699 | 10,317 | 7,332 | 8,198 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other assets | |||||||||||||||||||||
12,476 | 11,406 | 12,494 | 12,161 | 16,820 | 16,746 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other assets | 12,476 | 11,406 | 12,494 | 12,161 | 16,820 | 16,746 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Investments held in Trust Account | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Investments held in Trust Account | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
TOTAL ASSETS | |||||||||||||||||||||
697,710 | 732,562 | 785,783 | 805,692 | 899,287 | 983,263 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
TOTAL ASSETS | 697,710 | 732,562 | 785,783 | 805,692 | 899,287 | 983,263 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
Current Liabilities: | |||||||||||||||||||||
Accounts payable | |||||||||||||||||||||
20,869 | 16,969 | 19,634 | 15,105 | 7,530 | 15,014 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts payable | 20,869 | 16,969 | 19,634 | 15,105 | 7,530 | 15,014 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Current portion of long-term debt | |||||||||||||||||||||
3,088 | 3,362 | 3,378 | 4,675 | 6,419 | 7,926 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Current portion of long-term debt | 3,088 | 3,362 | 3,378 | 4,675 | 6,419 | 7,926 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income taxes payable | |||||||||||||||||||||
4,879 | 2,382 | 3,471 | 5,648 | 4,815 | 5,931 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income taxes payable | 4,879 | 2,382 | 3,471 | 5,648 | 4,815 | 5,931 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued expenses and other current liabilities | |||||||||||||||||||||
37,599 | 26,994 | 25,976 | 24,350 | 45,340 | 65,809 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued expenses and other current liabilities | 37,599 | 26,994 | 25,976 | 24,350 | 45,340 | 65,809 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Due to related party | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Due to related party | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Franchise tax payable | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Franchise tax payable | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued expenses | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued expenses | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total Current Liabilities | |||||||||||||||||||||
66,435 | 49,707 | 52,459 | 49,778 | 64,104 | 94,680 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total Current Liabilities | 66,435 | 49,707 | 52,459 | 49,778 | 64,104 | 94,680 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Long-term debt | |||||||||||||||||||||
253,058 | 254,194 | 264,491 | 398,064 | 400,309 | 402,868 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Long-term debt | 253,058 | 254,194 | 264,491 | 398,064 | 400,309 | 402,868 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other non-current liabilities | |||||||||||||||||||||
6,653 | 6,256 | 6,432 | 7,246 | 32,066 | 38,505 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other non-current liabilities | 6,653 | 6,256 | 6,432 | 7,246 | 32,066 | 38,505 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred income tax liabilities | |||||||||||||||||||||
28,398 | 34,833 | 37,834 | 9,217 | 30,232 | 31,130 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred income tax liabilities | 28,398 | 34,833 | 37,834 | 9,217 | 30,232 | 31,130 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred underwriting compensation | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred underwriting compensation | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total Liabilities | |||||||||||||||||||||
354,544 | 344,990 | 361,216 | 464,305 | 526,711 | 567,183 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total Liabilities | 354,544 | 344,990 | 361,216 | 464,305 | 526,711 | 567,183 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Commitments and Contingencies (see Note 20) | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Commitments and Contingencies (see Note 20) | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Series B convertible preferred stock, par value $0.0001; 150 shares authorized and designated and 145 outstanding at December 31, 2022 and 150 shares authorized and designated and 145 outstanding at December 31, 2021 | |||||||||||||||||||||
161,796 | 149,386 | 143,728 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Series B convertible preferred stock, par value $0.0001; 150 shares authorized and designated and 145 outstanding at December 31, 2022 and 150 shares authorized and designated and 145 outstanding at December 31, 2021 | 161,796 | 149,386 | 143,728 | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Redeemable non-controlling interest | |||||||||||||||||||||
7,340 | 7,787 | 8,446 | 7,701 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Redeemable non-controlling interest | 7,340 | 7,787 | 8,446 | 7,701 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Common stock subject to possible redemption 20,698,904 shares and 20,826,942 shares at June 30, 2015 and December 31, 2014, respectively | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Common stock subject to possible redemption 20,698,904 shares and 20,826,942 shares at June 30, 2015 and December 31, 2014, respectively | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Stockholders’ Equity: | |||||||||||||||||||||
Common stock, par value $0.0001; 400,000 shares authorized, 54,380 and 53,080 shares issued and 53,718 and 52,418 outstanding at December 31, 2022 and December 31, 2021, respectively | |||||||||||||||||||||
5 | 5 | 5 | 5 | 5 | 5 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Common stock, par value $0.0001; 400,000 shares authorized, 54,380 and 53,080 shares issued and 53,718 and 52,418 outstanding at December 31, 2022 and December 31, 2021, respectively | 5 | 5 | 5 | 5 | 5 | 5 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Preferred stock, par value $0.0001; 0.001 share authorized and outstanding at December 31, 2022 and December 31, 2021, respectively | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Preferred stock, par value $0.0001; 0.001 share authorized and outstanding at December 31, 2022 and December 31, 2021, respectively | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Treasury stock, par value $0.0001; 661 shares at December 31, 2022 and December 31, 2021, respectively | |||||||||||||||||||||
3,885 | 3,885 | 3,885 | 3,885 | 3,885 | 3,885 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Treasury stock, par value $0.0001; 661 shares at December 31, 2022 and December 31, 2021, respectively | 3,885 | 3,885 | 3,885 | 3,885 | 3,885 | 3,885 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Additional paid-in capital | |||||||||||||||||||||
505,570 | 529,303 | 552,776 | 560,890 | 535,819 | 533,015 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Additional paid-in capital | 505,570 | 529,303 | 552,776 | 560,890 | 535,819 | 533,015 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accumulated deficit | |||||||||||||||||||||
-282,017 | -248,660 | -244,836 | -192,264 | -138,789 | -108,729 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accumulated deficit | -282,017 | -248,660 | -244,836 | -192,264 | -138,789 | -108,729 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accumulated other comprehensive loss | |||||||||||||||||||||
-45,643 | -46,364 | -31,667 | -31,060 | -28,837 | -12,769 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accumulated other comprehensive loss | -45,643 | -46,364 | -31,667 | -31,060 | -28,837 | -12,769 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total Stockholders' Equity | |||||||||||||||||||||
174,030 | 230,399 | 272,393 | 333,686 | 364,313 | 407,637 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total Stockholders' Equity | 174,030 | 230,399 | 272,393 | 333,686 | 364,313 | 407,637 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-controlling interest | |||||||||||||||||||||
- | - | - | - | 8,263 | 8,443 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Non-controlling interest | - | - | - | - | 8,263 | 8,443 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total Stockholders' Equity | |||||||||||||||||||||
- | - | - | - | 372,576 | 416,080 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total Stockholders' Equity | - | - | - | - | 372,576 | 416,080 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
TOTAL LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS' EQUITY | |||||||||||||||||||||
697,710 | 732,562 | 785,783 | 805,692 | 899,287 | 983,263 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
TOTAL LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS' EQUITY | 697,710 | 732,562 | 785,783 | 805,692 | 899,287 | 983,263 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||