XML 12 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Income Statement [Abstract]        
Net Sales $ 454,603 $ 452,414 $ 900,500 $ 912,865
Cost of Sales 361,672 372,902 714,070 756,911
Gross Profit 92,931 79,512 186,430 155,954
Operating Expenses:        
Selling 14,572 14,265 28,262 27,262
Administrative [1] 17,692 17,482 36,392 35,244
Research, development and technical services 14,256 12,597 28,038 24,387
Deferred compensation expense [1] 2,434 6,573 5,154 8,150
Total Operating expenses 48,954 50,917 97,846 95,043
Gain on sale of product line       2,862
Business restructuring (1,061)   (1,061)  
Operating Income 42,916 28,595 87,523 63,773
Other Income (Expense):        
Interest, net (3,417) (2,869) (7,031) (6,923)
Loss from equity in joint ventures (Note 16)   (1,815)   (3,055)
Other, net (Note 13) (303) 235 (828) 887
Nonoperating Income (Expense), Total (3,720) (4,449) (7,859) (9,091)
Income Before Provision for Income Taxes 39,196 24,146 79,664 54,682
Provision for Income Taxes 11,326 7,205 24,137 16,455
Net Income 27,870 16,941 55,527 38,227
Net Income Attributable to Noncontrolling Interests (Note 2) (5) (27) (8) (43)
Net Income Attributable to Stepan Company $ 27,865 $ 16,914 $ 55,519 $ 38,184
Net Income Per Common Share Attributable to Stepan Company (Note 9):        
Basic $ 1.22 $ 0.74 $ 2.44 $ 1.68
Diluted $ 1.21 $ 0.74 $ 2.42 $ 1.67
Shares Used to Compute Net Income Per Common Share Attributable to Stepan Company (Note 9):        
Basic 22,760 22,742 22,746 22,731
Diluted 22,958 22,871 22,920 22,850
Dividends Declared Per Common Share $ 0.19 $ 0.18 $ 0.38 $ 0.36
[1] For the three and six months ended June 30, 2015, deferred compensation expense was included in the administrative expense line. The 2015 amounts have been classified separately to conform to the current year presentation.