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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income Statement [Abstract]        
Net Sales $ 473,003 $ 519,866 $ 962,173 $ 1,019,201
Cost of Sales [1] 380,044 429,885 784,605 838,022
Gross Profit [1] 92,959 89,981 177,568 181,179
Operating Expenses:        
Selling 14,140 13,369 28,109 28,259
Administrative 21,544 18,098 40,850 37,537
Research, development and technical services 13,365 13,720 26,755 27,334
Deferred compensation expense (income) 2,395 (865) 9,868 749
Total Operating expenses 51,444 44,322 105,582 93,879
Business restructuring expenses (Note 17) (450) (273) (1,183) (631)
Operating Income [1],[2] 41,065 45,386 70,803 86,669
Other Income (Expense):        
Interest, net (1,766) (2,672) (3,619) (5,823)
Other, net (Note 16) 235 484 3,380 1,644
Nonoperating Income (Expense), Total (1,531) (2,188) (239) (4,179)
Income Before Provision for Income Taxes [1],[2] 39,534 43,198 70,564 82,490
Provision for Income Taxes [1] 9,324 9,746 15,376 17,093
Net Income [1],[2] 30,210 33,452 [3] 55,188 65,397
Net Loss Attributable to Noncontrolling Interests (Note 3) 8 2 14 9
Net Income Attributable to Stepan Company [1],[2] $ 30,218 $ 33,454 $ 55,202 $ 65,406
Net Income Per Common Share Attributable to Stepan Company (Note 11):        
Basic [1],[2] $ 1.31 $ 1.45 $ 2.39 $ 2.84
Diluted [1],[2] $ 1.30 $ 1.44 $ 2.37 $ 2.80
Shares Used to Compute Net Income Per Common Share Attributable to Stepan Company (Note 11):        
Basic 23,086 23,039 23,092 23,059
Diluted 23,329 23,295 23,329 23,341
[1] The 2018 amounts for the noted line items have been retrospectively changed from the amounts originally reported as a result of the Company’s first quarter 2019 change in method of accounting for U.S. inventory valuation from the last in, first out (LIFO) basis to the first in, first out (FIFO) basis.
[2] The 2018 amounts for the noted line items have been retrospectively changed from the amounts originally reported as a result of the Company’s first quarter 2019 change in method of accounting for U.S. inventory valuation from LIFO to FIFO.
[3] The retained earnings and net income amounts for the noted line items have been changed from the amounts originally reported as a result of the Company’s first quarter 2019 change in method of accounting for U.S. inventory valuation from LIFO to FIFO.