Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2015

Computation of Basic and Diluted Earnings Per Share

Below are the computations of basic and diluted earnings per share for the three and nine months ended September 30, 2015 and 2014:

(In thousands, except per share amounts)	Three Months Ended September 30				Nine Months Ended September 30
	2015		2014		2015		2014
Computation of Basic Earnings per Share
Net income attributable to Stepan Company	$	24,912	$	13,491	$	63,096	$	50,862
Weighted-average number of common shares outstanding		22,732		22,726		22,731		22,754
Basic earnings per share	$	1.10	$	0.59	$	2.78	$	2.24

Computation of Diluted Earnings per Share
Net income attributable to Stepan Company	$	24,912	$	13,491	$	63,096	$	50,862
Weighted-average number of shares outstanding		22,732		22,726		22,731		22,754
Add weighted-average net shares issuable from assumed exercise of options (under treasury stock method)⁽¹⁾		119		138		117		159
Add weighted-average net shares related to unvested stock awards (under treasury stock method)		2		11		3		10
Weighted-average shares applicable to diluted earnings		22,853		22,875		22,851		22,923
Diluted earnings per share	$	1.09	$	0.59	$	2.76	$	2.22

⁽¹⁾ Options to purchase 90,734 and 136,170 shares of Company common stock were excluded from the computations of diluted earnings per share for the three and nine months ended September 30, 2015, respectively. Options to purchase 96,999 and 82,673 shares of Company common stock were excluded from the computations of diluted earnings per share for the three and nine months ended September 30, 2014, respectively. The options’ exercise prices were greater than the average market price for the common stock, and the effect of including the options would have been antidilutive.