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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Income Statement [Abstract]      
Net Sales (Note 1) [1] $ 1,858,745 $ 1,993,857 $ 1,925,007
Cost of Sales [2] 1,519,031 1,654,508 1,578,840
Gross Profit [2] 339,714 339,349 [3] 346,167
Operating Expenses:      
Selling (Note 1) 56,956 56,319 54,090
Administrative (Note 1) 82,577 79,243 75,615
Research, development and technical services (Note 1) 55,037 54,263 53,696
Deferred compensation expense (income) 15,140 (2,329) 4,857
Total Operating expenses 209,710 187,496 188,258
Business restructuring (Note 23) [4] (2,744) (2,588) (3,069)
Operating Income [2] 127,260 149,265 [3] 154,840
Other Income (Expense):      
Interest, net (Note 7) (5,932) (10,771) (11,444)
Other, net (Note 9) 4,571 (725) 3,486
Nonoperating Income (Expense), Total (1,361) (11,496) (7,958)
Income Before Provision for Income Taxes [2],[5] 125,899 137,769 [3] 146,882
Provision for Income Taxes (Note 10) [2] 22,798 26,664 46,139
Net Income [2] 103,101 111,105 [3],[6] 100,743 [6]
Net Loss Attributable to Noncontrolling Interests (Note 1) 28 12 31
Net Income Attributable to Stepan Company [2] $ 103,129 $ 111,117 [3] $ 100,774
Net Income Per Common Share Attributable to Stepan Company (Note 19):      
Basic [2] $ 4.47 $ 4.83 $ 4.39
Diluted [2] $ 4.42 $ 4.76 [3] $ 4.31
Shares Used to Compute Net Income Per Common Share Attributable to Stepan Company (Note 19):      
Basic 23,054 23,022 22,946
Diluted 23,316 23,325 23,377
[1] Net sales are attributed to countries based on the location of the Company facility making the sales.
[2] The 2018 and 2017 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 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
[4] See Note 23 regarding business restructuring costs.
[5] The 2018 and 2017 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
[6] The retained earnings and net income 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.