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10-Q Filing

STEPAN CO CIK: 94049 Q1 2016
Filing Information
Form Type 10-Q
Accession Number 0001564590-16-017085
Period End Date 20160331
Filing Date 20160429
Fiscal Year 2016
Fiscal Period Q1
XBRL Instance scl-20160331.xml
Filing Contents
Balance Sheet 74 line items
Line Item Tag Value Unit Period
Common stock, par value CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 60.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 60.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $97.31M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $176.14M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $85.22M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $145.67M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 25.73M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 25.71M shares Point-in-time
Receivables, net ReceivablesNetCurrent $291.63M USD Point-in-time
Receivables, net ReceivablesNetCurrent $249.60M USD Point-in-time
Treasury stock, shares TreasuryStockShares 3.43M shares Point-in-time
Treasury stock, shares TreasuryStockShares 3.44M shares Point-in-time
Inventories (Note 6) InventoryNet $177.79M USD Point-in-time
Inventories (Note 6) InventoryNet $170.42M USD Point-in-time
Other current assets OtherAssetsCurrent $24.04M USD Point-in-time
Other current assets OtherAssetsCurrent $23.40M USD Point-in-time
Total current assets AssetsCurrent $619.57M USD Point-in-time
Total current assets AssetsCurrent $639.13M USD Point-in-time
Cost PropertyPlantAndEquipmentGross $1.47B USD Point-in-time
Cost PropertyPlantAndEquipmentGross $1.45B USD Point-in-time
Less: accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $890.63M USD Point-in-time
Less: accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $910.59M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $558.72M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $555.46M USD Point-in-time
Goodwill, net Goodwill $11.27M USD Point-in-time
Goodwill, net Goodwill $11.37M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $17.27M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $17.96M USD Point-in-time
Long-term investments (Note 3) LongTermInvestments $20.79M USD Point-in-time
Long-term investments (Note 3) LongTermInvestments $20.91M USD Point-in-time
Other non-current assets (Note 16) OtherAssetsNoncurrent $12.69M USD Point-in-time
Other non-current assets (Note 16) OtherAssetsNoncurrent $13.22M USD Point-in-time
Total assets Assets $1.24B USD Point-in-time
Total assets Assets $1.26B USD Point-in-time
Current maturities of long-term debt (Note 12) LongTermDebtCurrent $15.28M USD Point-in-time
Current maturities of long-term debt (Note 12) LongTermDebtCurrent $18.81M USD Point-in-time
Accounts payable AccountsPayableCurrent $129.96M USD Point-in-time
Accounts payable AccountsPayableCurrent $128.60M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $76.11M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $95.83M USD Point-in-time
Total current liabilities LiabilitiesCurrent $243.24M USD Point-in-time
Total current liabilities LiabilitiesCurrent $221.35M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $11.83M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $9.46M USD Point-in-time
Long-term debt, less current maturities (Notes 12 and 16) LongTermDebtNoncurrent $312.55M USD Point-in-time
Long-term debt, less current maturities (Notes 12 and 16) LongTermDebtNoncurrent $312.57M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $117.96M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $114.76M USD Point-in-time
Commitments and Contingencies (Note 7) CommitmentsAndContingencies - USD Point-in-time
Commitments and Contingencies (Note 7) CommitmentsAndContingencies - USD Point-in-time
Common stock, $1 par value; authorized 60,000,000 shares; Issued 25,733,795 shares in 2016 and 25,709,391 shares in 2015 CommonStockValue $25.71M USD Point-in-time
Common stock, $1 par value; authorized 60,000,000 shares; Issued 25,733,795 shares in 2016 and 25,709,391 shares in 2015 CommonStockValue $25.73M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $146.87M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $144.60M USD Point-in-time
Accumulated other comprehensive loss (Note 10) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-83.94M USD Point-in-time
Accumulated other comprehensive loss (Note 10) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-111.97M USD Point-in-time
Accumulated other comprehensive loss (Note 10) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-125.09M USD Point-in-time
Accumulated other comprehensive loss (Note 10) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-108.38M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $603.62M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $580.21M USD Point-in-time
Less: Common treasury stock, at cost,3,444,231 shares in 2016 and 3,428,541 shares in 2015 TreasuryStockValue $69.44M USD Point-in-time
Less: Common treasury stock, at cost,3,444,231 shares in 2016 and 3,428,541 shares in 2015 TreasuryStockValue $68.45M USD Point-in-time
Total Stepan Company stockholders equity StockholdersEquity $594.83M USD Point-in-time
Total Stepan Company stockholders equity StockholdersEquity $556.98M USD Point-in-time
Noncontrolling interests (Note 2) MinorityInterest $1.40M USD Point-in-time
Noncontrolling interests (Note 2) MinorityInterest $1.41M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $596.24M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $536.94M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $530.48M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $558.38M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $1.26B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $1.24B USD Point-in-time
Income Statement 46 line items
Line Item Tag Value Unit Period
Net Sales SalesRevenueNet $445.90M USD 1 Quarter
Net Sales SalesRevenueNet $460.45M USD 1 Quarter
Cost of Sales CostOfGoodsAndServicesSold $384.01M USD 1 Quarter
Cost of Sales CostOfGoodsAndServicesSold $352.40M USD 1 Quarter
Gross Profit GrossProfit $76.44M USD 1 Quarter
Gross Profit GrossProfit $93.50M USD 1 Quarter
Selling SellingAndMarketingExpense $13.69M USD 1 Quarter
Selling SellingAndMarketingExpense $13.00M USD 1 Quarter
Administrative GeneralAndAdministrativeExpense $17.76M USD 1 Quarter
Administrative GeneralAndAdministrativeExpense $18.70M USD 1 Quarter
Research, development and technical services ResearchDevelopmentTechnicalServicesExpense $11.79M USD 1 Quarter
Research, development and technical services ResearchDevelopmentTechnicalServicesExpense $13.78M USD 1 Quarter
Deferred compensation expense DeferredCompensationExpenseIncome $2.72M USD 1 Quarter
Deferred compensation expense DeferredCompensationExpenseIncome $1.58M USD 1 Quarter
Total Operating expenses OperatingExpenses $44.13M USD 1 Quarter
Total Operating expenses OperatingExpenses $48.89M USD 1 Quarter
Gain on sale of product line GainLossOnSaleOfProductLine $2.86M USD 1 Quarter
Operating Income OperatingIncomeLoss $35.18M USD 1 Quarter
Operating Income OperatingIncomeLoss $44.61M USD 1 Quarter
Interest, net InterestIncomeExpenseNonoperatingNet $-3.61M USD 1 Quarter
Interest, net InterestIncomeExpenseNonoperatingNet $-4.05M USD 1 Quarter
Loss from equity in joint ventures (Note 15) IncomeLossFromEquityMethodInvestments $-1.24M USD 1 Quarter
Other, net (Note 13) OtherNonoperatingIncomeExpense $-525.00K USD 1 Quarter
Other, net (Note 13) OtherNonoperatingIncomeExpense $652.00K USD 1 Quarter
Nonoperating Income (Expense), Total NonoperatingIncomeExpense $-4.14M USD 1 Quarter
Nonoperating Income (Expense), Total NonoperatingIncomeExpense $-4.64M USD 1 Quarter
Income Before Provision for Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $40.47M USD 1 Quarter
Income Before Provision for Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $30.54M USD 1 Quarter
Provision for Income Taxes IncomeTaxExpenseBenefit $12.81M USD 1 Quarter
Provision for Income Taxes IncomeTaxExpenseBenefit $9.25M USD 1 Quarter
Net Income ProfitLoss $27.66M USD 1 Quarter
Net Income ProfitLoss $21.29M USD 1 Quarter
Net Income Attributable to Noncontrolling Interests (Note 2) NetIncomeLossAttributableToNoncontrollingInterest $16.00K USD 1 Quarter
Net Income Attributable to Noncontrolling Interests (Note 2) NetIncomeLossAttributableToNoncontrollingInterest $3.00K USD 1 Quarter
Net Income Attributable to Stepan Company NetIncomeLoss $27.65M USD 1 Quarter
Net Income Attributable to Stepan Company NetIncomeLoss $21.27M USD 1 Quarter
Basic EarningsPerShareBasic $0.94 USD 1 Quarter
Basic EarningsPerShareBasic $1.22 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.93 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.21 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 22.72M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 22.73M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 22.88M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 22.83M shares 1 Quarter
Dividends Declared Per Common Share CommonStockDividendsPerShareDeclared $0.18 USD 1 Quarter
Dividends Declared Per Common Share CommonStockDividendsPerShareDeclared $0.19 USD 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $27.66M USD 1 Quarter
Net income ProfitLoss $21.29M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $18.07M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $16.13M USD 1 Quarter
Deferred compensation DeferredCompensationExpenseIncome $2.72M USD 1 Quarter
Deferred compensation DeferredCompensationExpenseIncome $1.58M USD 1 Quarter
Realized and unrealized (gains) losses on long-term investments GainLossOnInvestments $-306.00K USD 1 Quarter
Realized and unrealized (gains) losses on long-term investments GainLossOnInvestments $531.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $2.42M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $798.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $2.68M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-1.26M USD 1 Quarter
Other non-cash items OtherNoncashIncomeExpense $1.40M USD 1 Quarter
Other non-cash items OtherNoncashIncomeExpense $-282.00K USD 1 Quarter
Receivables, net IncreaseDecreaseInReceivables $36.26M USD 1 Quarter
Receivables, net IncreaseDecreaseInReceivables $11.55M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-4.97M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $5.27M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherOperatingAssets $1.70M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherOperatingAssets $315.00K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-14.85M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $5.65M USD 1 Quarter
Pension liabilities IncreaseDecreaseInPensionPlanObligations $156.00K USD 1 Quarter
Pension liabilities IncreaseDecreaseInPensionPlanObligations $111.00K USD 1 Quarter
Environmental and legal liabilities EnvironmentalAndLegalLiabilitiesIncreaseDecrease $837.00K USD 1 Quarter
Environmental and legal liabilities EnvironmentalAndLegalLiabilitiesIncreaseDecrease $90.00K USD 1 Quarter
Deferred revenues DeferredRevenuePeriodIncreaseDecrease $-282.00K USD 1 Quarter
Deferred revenues DeferredRevenuePeriodIncreaseDecrease $-195.00K USD 1 Quarter
Excess tax benefit from stock options and awards ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $120.00K USD 1 Quarter
Excess tax benefit from stock options and awards ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $262.00K USD 1 Quarter
Net Cash (Used In) Provided By Operating Activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-2.11M USD 1 Quarter
Net Cash (Used In) Provided By Operating Activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $33.85M USD 1 Quarter
Expenditures for property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $19.34M USD 1 Quarter
Expenditures for property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $28.30M USD 1 Quarter
Proceeds from sale of product line (Note14) ProceedsFromSaleOfProductLine $3.26M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $3.12M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $73.00K USD 1 Quarter
Net Cash Used In Investing Activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-25.11M USD 1 Quarter
Net Cash Used In Investing Activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-22.46M USD 1 Quarter
Revolving debt and bank overdrafts, net ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess $-3.59M USD 1 Quarter
Revolving debt and bank overdrafts, net ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess $14.24M USD 1 Quarter
Other debt repayments RepaymentsOfLongTermDebt $2.06M USD 1 Quarter
Other debt repayments RepaymentsOfLongTermDebt $159.00K USD 1 Quarter
Dividends paid PaymentsOfDividends $4.05M USD 1 Quarter
Dividends paid PaymentsOfDividends $4.24M USD 1 Quarter
Company stock repurchased PaymentsForRepurchaseOfCommonStock $908.00K USD 1 Quarter
Stock option exercises ProceedsFromStockOptionsExercised $167.00K USD 1 Quarter
Stock option exercises ProceedsFromStockOptionsExercised $258.00K USD 1 Quarter
Excess tax benefit from stock options and awards ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $262.00K USD 1 Quarter
Excess tax benefit from stock options and awards ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $120.00K USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-275.00K USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-235.00K USD 1 Quarter
Net Cash (Used In) Provided By Financing Activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $8.14M USD 1 Quarter
Net Cash (Used In) Provided By Financing Activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-8.61M USD 1 Quarter
Effect of Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $2.70M USD 1 Quarter
Effect of Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $-4.80M USD 1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $12.09M USD 1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-30.47M USD 1 Quarter
Cash and Cash Equivalents at Beginning of Period CashAndCashEquivalentsAtCarryingValue $97.31M USD Point-in-time
Cash and Cash Equivalents at Beginning of Period CashAndCashEquivalentsAtCarryingValue $176.14M USD Point-in-time
Cash and Cash Equivalents at Beginning of Period CashAndCashEquivalentsAtCarryingValue $85.22M USD Point-in-time
Cash and Cash Equivalents at Beginning of Period CashAndCashEquivalentsAtCarryingValue $145.67M USD Point-in-time
Cash and Cash Equivalents at End of Period CashAndCashEquivalentsAtCarryingValue $97.31M USD Point-in-time
Cash and Cash Equivalents at End of Period CashAndCashEquivalentsAtCarryingValue $176.14M USD Point-in-time
Cash and Cash Equivalents at End of Period CashAndCashEquivalentsAtCarryingValue $85.22M USD Point-in-time
Cash and Cash Equivalents at End of Period CashAndCashEquivalentsAtCarryingValue $145.67M USD Point-in-time
Cash (refunds) of income taxes, net of payments IncomeTaxesPaidNet $-2.92M USD 1 Quarter
Cash (refunds) of income taxes, net of payments IncomeTaxesPaidNet $-733.00K USD 1 Quarter
Cash payments of interest InterestPaid $2.12M USD 1 Quarter
Cash payments of interest InterestPaid $435.00K USD 1 Quarter
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $27.66M USD 1 Quarter
Net income ProfitLoss $21.29M USD 1 Quarter
Foreign currency translation adjustments (Note 10) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $12.59M USD 1 Quarter
Foreign currency translation adjustments (Note 10) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-25.15M USD 1 Quarter
Defined benefit pension adjustments, net of tax (Note 10) OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-564.00K USD 1 Quarter
Defined benefit pension adjustments, net of tax (Note 10) OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-749.00K USD 1 Quarter
Derivative instrument activity, net of tax (Note 10) OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-42.00K USD 1 Quarter
Derivative instrument activity, net of tax (Note 10) OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-21.00K USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $13.13M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-24.45M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-3.16M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $40.79M USD 1 Quarter
Comprehensive income attributable to noncontrolling interests (Note 2) ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $14.00K USD 1 Quarter
Comprehensive income attributable to noncontrolling interests (Note 2) ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $1.00K USD 1 Quarter
Comprehensive income (loss) attributable to Stepan Company ComprehensiveIncomeNetOfTax $40.78M USD 1 Quarter
Comprehensive income (loss) attributable to Stepan Company ComprehensiveIncomeNetOfTax $-3.16M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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