Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2018

Computation of Basic and Diluted Earnings Per Share

Below are the computations of basic and diluted earnings per share for the three months ended March 31, 2018 and 2017:

(In thousands, except per share amounts)	Three Months Ended March 31
	2018		2017
Computation of Basic Earnings per Share
Net income attributable to Stepan Company	$	30,723	$	31,913
Weighted-average number of common shares outstanding		23,082		22,901
Basic earnings per share	$	1.33	$	1.39

Computation of Diluted Earnings per Share
Net income attributable to Stepan Company	$	30,723	$	31,913
Weighted-average number of shares outstanding		23,082		22,901
Add weighted-average net shares from assumed exercise of options (under treasury stock method) ⁽¹⁾		119		183
Add weighted-average net shares related to unvested stock awards (under treasury stock method)		2		8
Add weighted-average net shares from assumed exercise of SARs (under treasury stock method) ⁽¹⁾		122		142
Add weighted-average contingently issuable net shares related to performance stock awards (under treasury stock method)		64		97
Weighted-average shares applicable to diluted earnings		23,389		23,331
Diluted earnings per share	$	1.31	$	1.37

⁽¹⁾ Options/SARs to acquire 2,807 and 74,521 shares of Company common stock were excluded from the computations of diluted earnings per share for the three months ended March 31, 2018 and March 31, 2017, because the effect of including the instruments would have been antidilutive.