Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 194,585	$ 159,186
Receivables, net	518,750	419,542
Inventories (Note 6)	340,712	305,538
Other current assets	33,320	29,102
Total current assets	1,087,367	913,368
Property, Plant and Equipment:
Cost	2,182,693	2,090,957
Less: Accumulated depreciation	(1,263,159)	(1,240,353)
Property, plant and equipment, net	919,534	850,604
Goodwill, net (Note 17)	93,152	97,187
Other intangible assets, net (Note 17)	54,956	60,784
Long-term investments (Note 3)	24,914	34,495
Operating lease assets (Note 7)	65,525	69,612
Other non-current assets	43,351	39,562
Total assets	2,288,799	2,065,612
Current Liabilities:
Current maturities of long-term debt (Note 14)	142,489	40,718
Accounts payable	366,233	323,362
Accrued liabilities	129,506	136,396
Total current liabilities	638,228	500,476
Deferred income taxes	11,375	12,491
Long-term debt, less current maturities (Note 14)	383,503	322,862
Non-current operating lease liabilities (Note 7)	53,118	56,668
Other non-current liabilities	76,864	98,922
Commitments and Contingencies (Note 8)
Equity:
Common stock, $1 par value; authorized 60,000,000 shares; 26,824,902 issued shares in 2022 and 26,760,714 issued shares in 2021	26,825	26,761
Additional paid-in capital	229,510	220,820
Accumulated other comprehensive loss (Note 11)	(173,802)	(153,236)
Retained earnings	1,215,500	1,133,550
Less: Common treasury stock, at cost, 4,519,968 shares in 2022 and 4,340,729 shares in 2021	(172,322)	(153,702)
Total Stepan Company stockholders’ equity	1,125,711	1,074,193
Total equity	1,125,711	1,074,193
Total liabilities and equity	$ 2,288,799	$ 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).