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Earnings Per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share
10.
EARNINGS PER SHARE

Below are the computations of basic and diluted earnings per share for the three and nine months ended September 30, 2024 and 2023:

(In thousands, except per share amounts)

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Computation of Basic Earnings per Share

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Stepan Company

 

$

23,606

 

 

$

12,571

 

 

$

47,020

 

 

$

41,397

 

Weighted-average number of common shares
   outstanding

 

 

22,836

 

 

 

22,786

 

 

 

22,829

 

 

 

22,770

 

Basic earnings per share

 

$

1.03

 

 

$

0.55

 

 

$

2.06

 

 

$

1.82

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Computation of Diluted Earnings per Share

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Stepan Company

 

$

23,606

 

 

$

12,571

 

 

$

47,020

 

 

$

41,397

 

Weighted-average number of shares outstanding

 

 

22,836

 

 

 

22,786

 

 

 

22,829

 

 

 

22,770

 

Add weighted-average net shares from assumed
   exercise of options (under treasury stock method)(1)

 

 

25

 

 

 

54

 

 

 

36

 

 

 

75

 

Add weighted-average net shares related to unvested
   stock awards (under treasury stock method)

 

 

9

 

 

 

3

 

 

 

7

 

 

 

2

 

Add weighted-average net shares from assumed
   exercise of SARs (under treasury stock method)(1)

 

 

28

 

 

 

53

 

 

 

42

 

 

 

78

 

Add weighted-average contingently issuable net
  shares related to performance stock awards
  (under treasury stock method)

 

 

25

 

 

 

34

 

 

 

22

 

 

 

31

 

Weighted-average shares applicable to diluted
   earnings

 

 

22,923

 

 

 

22,930

 

 

 

22,936

 

 

 

22,956

 

Diluted earnings per share

 

$

1.03

 

 

$

0.55

 

 

$

2.05

 

 

$

1.80

 

 

(1)
883,188 and 860,788 options/SARs to acquire shares of the Company's common stock were excluded from the computation of dilutive earnings per share for the three and nine months ended September 30, 2024, respectively. The options/SARs' exercise prices were greater than the average market price for the Company's common stock and inclusion of the instruments would have had an antidilutive effect on the computations of the earnings per share. 822,271 and 623,648 options/SARs to acquire shares of the Company's common stock were excluded from the computation of dilutive earnings per share for the three and nine months ended September 30, 2023, respectively.