Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 236,041	$ 159,186
Receivables, net	504,474	419,542
Inventories (Note 6)	308,423	305,538
Other current assets	32,933	29,102
Total current assets	1,081,871	913,368
Property, Plant and Equipment:
Cost	2,149,060	2,090,957
Less: Accumulated depreciation	(1,256,479)	(1,240,353)
Property, plant and equipment, net	892,581	850,604
Goodwill, net (Note 17)	97,557	97,187
Other intangible assets, net (Note 17)	58,770	60,784
Long-term investments (Note 3)	29,169	34,495
Operating lease assets (Note 7)	67,359	69,612
Other non-current assets	45,289	39,562
Total assets	2,272,596	2,065,612
Current Liabilities:
Current maturities of long-term debt (Note 14)	139,354	40,718
Accounts payable	350,754	323,362
Accrued liabilities	120,954	136,396
Total current liabilities	611,062	500,476
Deferred income taxes	10,963	12,491
Long-term debt, less current maturities (Note 14)	397,760	322,862
Non-current operating lease liabilities (Note 7)	54,636	56,668
Other non-current liabilities	81,437	98,922
Commitments and Contingencies (Note 8)
Equity:
Common stock, $1 par value; authorized 60,000,000 shares; Issued 26,813,581 shares in 2022 and 26,760,714 issued shares in 2021	26,814	26,761
Additional paid-in capital	224,500	220,820
Accumulated other comprehensive loss (Note 11)	(140,183)	(153,236)
Retained earnings	1,170,846	1,133,550
Less: Common treasury stock, at cost, 4,449,824 shares in 2022 and 4,340,729 shares in 2021	(165,239)	(153,702)
Total Stepan Company stockholders’ equity	1,116,738	1,074,193
Total equity	1,116,738	1,074,193
Total liabilities and equity	$ 2,272,596	$ 2,065,612

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).