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Reconciliations of Equity (Tables)
 6 Months Ended
Jun. 30, 2018
Equity [Abstract]  
Reconciliations of Total Equity

Below are reconciliations of total equity, Company equity and equity attributable to noncontrolling interests for the six months ended June 30, 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

 

 

63,639

 

 

 

63,648

 

 

 

(9

)

Dividends

 

 

(10,160

)

 

 

(10,160

)

 

 

 

 

Common stock purchases (1)

 

 

(15,184

)

 

 

(15,184

)

 

 

 

 

Stock option  exercises

 

 

3,274

 

 

 

3,274

 

 

 

 

 

Defined benefit pension adjustments, net of tax

 

 

1,505

 

 

 

1,505

 

 

 

 

 

Translation adjustments

 

 

(26,242

)

 

 

(26,227

)

 

 

(15

)

Derivative instrument activity, net of tax

 

 

(5

)

 

 

(5

)

 

 

 

 

Other (2)

 

 

4,293

 

 

 

4,293

 

 

 

 

 

Balance at June 30, 2018

 

$

762,034

 

 

$

761,240

 

 

$

794

 

 

(In thousands)

 

Total Equity

 

 

Stepan

Company

Equity

 

 

Noncontrolling Interests’

Equity (3)

 

Balance at January 1, 2017

 

$

635,916

 

 

$

634,604

 

 

$

1,312

 

Net income

 

 

59,808

 

 

 

59,795

 

 

 

13

 

Dividends

 

 

(9,225

)

 

 

(9,225

)

 

 

—

 

Common stock purchases (1)

 

 

(3,191

)

 

 

(3,191

)

 

 

—

 

Stock option exercises

 

 

2,518

 

 

 

2,518

 

 

 

—

 

Defined benefit pension adjustments, net of tax

 

 

1,132

 

 

 

1,132

 

 

 

—

 

Translation adjustments

 

 

16,451

 

 

 

16,418

 

 

 

33

 

Derivative instrument activity, net of tax

 

 

(5

)

 

 

(5

)

 

 

—

 

Other (2)

 

 

5,295

 

 

 

5,295

 

 

 

—

 

Balance at June 30, 2017

 

$

708,699

 

 

$

707,341

 

 

$

1,358

 

 

(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 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.