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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Current Assets:    
Cash and cash equivalents $ 225,743 $ 176,143
Receivables, less allowances of $9,755 in 2016 and $8,046 in 2015 263,408 249,602
Inventories (Note 5) 173,663 170,424
Other current assets 22,727 23,404
Total current assets 685,541 619,573
Property, Plant and Equipment:    
Land 15,779 15,132
Buildings and improvements 184,773 173,964
Machinery and equipment 1,241,838 1,161,051
Construction in progress 71,088 95,951
Property, Plant and Equipment, Gross 1,513,478 1,446,098
Less: accumulated depreciation (930,764) (890,635)
Property, plant and equipment, net 582,714 555,463
Goodwill, net (Note 4) 25,308 11,265
Other intangible assets, net (Note 4) 22,339 17,957
Long-term investments (Note 2) 24,055 20,910
Other non-current assets [1] 13,933 13,224
Total Assets [2] 1,353,890 1,238,392
Current Liabilities:    
Current maturities of long-term debt (Note 6) 28,154 18,806 [3]
Accounts payable 158,316 128,605
Accrued liabilities (Note 14) 110,795 95,833
Total current liabilities 297,265 243,244
Deferred income taxes (Note 9) 12,497 9,455
Long-term debt, less current maturities (Note 6) [1] 288,859 312,548 [3]
Other non-current liabilities (Note 15) 119,353 114,761
Commitments and Contingencies (Note 16)
Equity (Note 10):    
Common stock, $1 par value; authorized 60,000,000 shares; issued 25,894,782 shares in 2016 and 25,709,391 shares in 2015 25,895 25,709
Additional paid-in capital 158,042 144,601
Accumulated other comprehensive loss (Note 19) (127,465) (125,088)
Retained earnings 649,070 580,208
Less: Common treasury stock, at cost, 3,470,084 shares in 2016 and 3,428,541 shares in 2015 (70,938) (68,446)
Total Stepan Company stockholders’ equity 634,604 556,984
Noncontrolling interests 1,312 1,400
Total equity 635,916 558,384
Total Liabilities and Equity $ 1,353,890 $ 1,238,392
[1] The 2015 amounts have been changed from the amounts originally reported at December 31, 2015, due to the Company’s January 1, 2016, adoption of the new U.S. accounting guidance regarding the classification of debt issuance costs. See Note 1 to the consolidated financial statements for additional information regarding Accounting Standards Update No. 2015-3.
[2] The 2015 amounts in the noted line items have been changed from the amounts originally reported due to the reclassification of debt issuance costs pursuant to the Company’s adoption of ASU No. 2015-3. See Note 1 for further information.
[3] Certain balances have been reclassified from those originally presented at December 31, 2015, due to the Company’s January 1, 2016, adoption of the new U.S. GAAP guidance regarding the classification of debt issuance costs. See Note 1 for additional information regarding ASU No. 2015-3.