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Selected Quarterly Financial Data (Tables)
12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data

 

 

 

2016

 

Quarter

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

Year

 

Net Sales

 

$

445,897

 

 

$

454,603

 

 

$

445,030

 

 

$

420,636

 

 

$

1,766,166

 

Gross Profit

 

 

93,499

 

 

 

92,931

 

 

 

83,395

 

 

 

68,720

 

 

 

338,545

 

Operating Income

 

 

44,607

 

 

 

42,916

 

 

 

28,738

 

 

 

9,932

 

 

 

126,193

 

Interest, net

 

 

(3,614

)

 

 

(3,417

)

 

 

(2,824

)

 

 

(3,350

)

 

 

(13,205

)

Income Before Income Taxes

 

 

40,468

 

 

 

39,196

 

 

 

27,143

 

 

 

7,009

 

 

 

113,816

 

Net Income (a)

 

 

27,919

 

 

 

28,501

 

 

 

21,367

 

 

 

8,411

 

 

 

86,198

 

Net Income Attributable to Stepan Company (a)

 

 

27,916

 

 

 

28,496

 

 

 

21,362

 

 

 

8,417

 

 

 

86,191

 

Per Diluted Share (a)

 

 

1.22

 

 

 

1.24

 

 

 

0.92

 

 

 

0.36

 

 

 

3.73

 

 

 

 

 

2015

 

Quarter

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

Year

 

Net Sales

 

$

460,451

 

 

$

452,414

 

 

$

444,011

 

 

$

419,291

 

 

$

1,776,167

 

Gross Profit

 

 

76,442

 

 

 

79,512

 

 

 

77,598

 

 

 

74,689

 

 

 

308,241

 

Operating Income

 

 

35,178

 

 

 

28,595

 

 

 

38,794

 

 

 

20,223

 

 

 

122,790

 

Interest, net

 

 

(4,054

)

 

 

(2,869

)

 

 

(3,837

)

 

 

(3,773

)

 

 

(14,533

)

Income Before Income Taxes

 

 

30,536

 

 

 

24,146

 

 

 

33,113

 

 

 

15,061

 

 

 

102,856

 

Net Income

 

 

21,286

 

 

 

16,941

 

 

 

24,934

 

 

 

12,876

 

 

 

76,037

 

Net Income Attributable to Stepan Company

 

 

21,270

 

 

 

16,914

 

 

 

24,912

 

 

 

12,872

 

 

 

75,968

 

Per Diluted Share

 

 

0.93

 

 

 

0.74

 

 

 

1.09

 

 

 

0.56

 

 

 

3.32

 

 

(a)

The amounts for net income, net income attributable to Stepan Company and net income attributable to Stepan Company per diluted share for the first, second and third quarters of 2016 have been changed from the amounts originally reported as a result of the Company’s early adoption of ASU No. 2016-9, Compensation – Stock Compensation (Topic 718): Improvement to Employee Share-Based Payment Accounting. See Note 1 for additional information regarding ASU No. 2016-9. Below are the originally reported amounts for the items that changed:

 

 

 

 

2016

 

 

(In thousands, except per share data)

 

First

 

 

 

Second

 

 

 

Third

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income

 

$

27,657

 

 

 

$

27,870

 

 

 

$

20,432

 

 

Net Income Attributable to Stepan Company

 

 

27,654

 

 

 

 

27,865

 

 

 

 

20,427

 

 

Per Diluted Share

 

 

1.21

 

 

 

 

1.21

 

 

 

 

0.89