Reconciliations of Equity (Tables)

3 Months Ended

Mar. 31, 2018

Below are reconciliations of total equity, Company equity and equity attributable to noncontrolling interests for the three months ended March 31, 2018 and 2017:

(In thousands)	Total Equity			Stepan Company Equity			Noncontrolling Interests’ Equity ⁽³⁾
Balance at January 1, 2018	$	740,914		$	740,096		$	818
Net income		30,716			30,723			(7	)
Dividends		(5,092	)		(5,092	)
Common stock purchases ⁽¹⁾		(5,667	)		(5,667	)
Stock option exercises		3,155			3,155
Defined benefit pension adjustments, net of tax		753			753
Translation adjustments		8,817			8,785			32
Derivative instrument activity, net of tax		(3	)		(3	)		—
Other ⁽²⁾		1,833			1,833			—
Balance at March 31, 2018	$	775,426		$	774,583		$	843

(In thousands)	Total Equity			Stepan Company Equity			Noncontrolling Interests’ Equity ⁽³⁾
Balance at January 1, 2017	$	635,916		$	634,604		$	1,312
Net income		31,912			31,913			(1	)
Dividends		(4,606	)		(4,606	)		—
Common stock purchases ⁽¹⁾		(2,991	)		(2,991	)		—
Stock option exercises		835			835			—
Defined benefit pension adjustments, net of tax		565			565			—
Translation adjustments		10,454			10,441			13
Derivative instrument activity, net of tax		(2	)		(2	)		—
Other ⁽²⁾		2,474			2,474			—
Balance at March 31, 2017	$	674,557		$	673,233		$	1,324

⁽¹⁾

Includes the value of Company shares purchased in the open market and from the Company’s retirement plans and the value of Company common shares tendered by employees to settle statutory withholding taxes related to distributions of deferred performance awards and deferred management incentive compensation and to exercises of stock appreciation rights.

⁽²⁾

Primarily comprised of activity related to stock-based compensation and deferred compensation. Beginning in 2018, also includes beginning retained earnings adjustment as a result of the Company’s first quarter 2018 adoption of ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.

⁽³⁾

Reflects the noncontrolling interest in the Company’s China joint venture.