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10-Q Filing

STEPAN CO CIK: 94049 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0001564590-18-009963
Period End Date 20180331
Filing Date 20180501
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance scl-20180331.xml
Filing Contents
Balance Sheet 72 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
Common stock, shares issued CommonStockSharesIssued 26.27M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 26.07M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $225.74M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $197.81M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $298.89M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $244.58M USD Point-in-time
Treasury stock, shares TreasuryStockShares 3.62M shares Point-in-time
Receivables, net ReceivablesNetCurrent $325.28M USD Point-in-time
Receivables, net ReceivablesNetCurrent $293.54M USD Point-in-time
Treasury stock, shares TreasuryStockShares 3.56M shares Point-in-time
Inventories (Note 6) InventoryNet $172.75M USD Point-in-time
Inventories (Note 6) InventoryNet $187.74M USD Point-in-time
Other current assets OtherAssetsCurrent $24.42M USD Point-in-time
Other current assets OtherAssetsCurrent $23.55M USD Point-in-time
Total current assets AssetsCurrent $782.01M USD Point-in-time
Total current assets AssetsCurrent $788.74M USD Point-in-time
Cost PropertyPlantAndEquipmentGross $1.64B USD Point-in-time
Cost PropertyPlantAndEquipmentGross $1.60B USD Point-in-time
Less: Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.03B USD Point-in-time
Less: Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.00B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $598.44M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $616.05M USD Point-in-time
Goodwill, net Goodwill $25.12M USD Point-in-time
Goodwill, net Goodwill $25.11M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $18.54M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $17.73M USD Point-in-time
Long-term investments (Note 3) LongTermInvestments $26.73M USD Point-in-time
Long-term investments (Note 3) LongTermInvestments $28.27M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $13.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $11.76M USD Point-in-time
Total assets Assets $1.48B USD Point-in-time
Total assets Assets $1.47B USD Point-in-time
Current maturities of long-term debt (Note 13) LongTermDebtCurrent $22.64M USD Point-in-time
Current maturities of long-term debt (Note 13) LongTermDebtCurrent $22.50M USD Point-in-time
Accounts payable AccountsPayableCurrent $202.43M USD Point-in-time
Accounts payable AccountsPayableCurrent $204.98M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $92.78M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $74.48M USD Point-in-time
Total current liabilities LiabilitiesCurrent $299.55M USD Point-in-time
Total current liabilities LiabilitiesCurrent $320.25M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $10.96M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $11.93M USD Point-in-time
Long-term debt, less current maturities (Notes 13) LongTermDebtNoncurrent $268.17M USD Point-in-time
Long-term debt, less current maturities (Notes 13) LongTermDebtNoncurrent $268.30M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $125.55M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $130.43M 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 26,268,311 shares in 2018 and 26,070,787 shares in 2017 CommonStockValue $26.27M USD Point-in-time
Common stock, $1 par value; authorized 60,000,000 shares; issued 26,268,311 shares in 2018 and 26,070,787 shares in 2017 CommonStockValue $26.07M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $175.21M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $170.41M USD Point-in-time
Accumulated other comprehensive loss (Note 10) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-90.03M USD Point-in-time
Accumulated other comprehensive loss (Note 10) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-99.56M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $721.74M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $747.17M USD Point-in-time
Less: Common treasury stock, at cost, 3,622,533 shares in 2018 and 3,561,509 shares in 2017 TreasuryStockValue $84.04M USD Point-in-time
Less: Common treasury stock, at cost, 3,622,533 shares in 2018 and 3,561,509 shares in 2017 TreasuryStockValue $78.56M USD Point-in-time
Total Stepan Company stockholders equity StockholdersEquity $774.58M USD Point-in-time
Total Stepan Company stockholders equity StockholdersEquity $740.10M USD Point-in-time
Noncontrolling interests (Note 2) MinorityInterest $818.00K USD Point-in-time
Noncontrolling interests (Note 2) MinorityInterest $843.00K USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $674.56M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $635.92M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $775.43M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $740.91M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $1.47B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $1.48B USD Point-in-time
Income Statement 46 line items
Line Item Tag Value Unit Period
Net Sales SalesRevenueNet $468.27M USD 1 Quarter
Net Sales SalesRevenueNet $499.33M USD 1 Quarter
Cost of Sales CostOfGoodsAndServicesSold $376.15M USD 1 Quarter
Cost of Sales CostOfGoodsAndServicesSold $409.76M USD 1 Quarter
Gross Profit GrossProfit $89.57M USD 1 Quarter
Gross Profit GrossProfit $92.12M USD 1 Quarter
Selling SellingAndMarketingExpense $13.46M USD 1 Quarter
Selling SellingAndMarketingExpense $14.89M USD 1 Quarter
Administrative GeneralAndAdministrativeExpense $17.89M USD 1 Quarter
Administrative GeneralAndAdministrativeExpense $19.44M USD 1 Quarter
Research, development and technical services ResearchDevelopmentTechnicalServicesExpense $13.61M USD 1 Quarter
Research, development and technical services ResearchDevelopmentTechnicalServicesExpense $13.38M USD 1 Quarter
Deferred compensation expense DeferredCompensationExpenseIncome $376.00K USD 1 Quarter
Deferred compensation expense DeferredCompensationExpenseIncome $1.61M USD 1 Quarter
Total Operating expenses OperatingExpenses $49.56M USD 1 Quarter
Total Operating expenses OperatingExpenses $45.10M USD 1 Quarter
Business restructuring expenses (Note 15) RestructuringCharges $358.00K USD 1 Quarter
Business restructuring expenses (Note 15) RestructuringCharges $786.00K USD 1 Quarter
Operating Income OperatingIncomeLoss $39.66M USD 1 Quarter
Operating Income OperatingIncomeLoss $46.23M USD 1 Quarter
Interest, net InterestIncomeExpenseNonoperatingNet $-3.15M USD 1 Quarter
Interest, net InterestIncomeExpenseNonoperatingNet $-2.99M USD 1 Quarter
Other, net (Note 14) OtherNonoperatingIncomeExpense $1.09M USD 1 Quarter
Other, net (Note 14) OtherNonoperatingIncomeExpense $1.16M USD 1 Quarter
Nonoperating Income (Expense), Total NonoperatingIncomeExpense $-1.99M USD 1 Quarter
Nonoperating Income (Expense), Total NonoperatingIncomeExpense $-1.90M USD 1 Quarter
Income Before Provision for Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $37.66M USD 1 Quarter
Income Before Provision for Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $44.33M USD 1 Quarter
Provision for Income Taxes (Note 17) IncomeTaxExpenseBenefit $12.42M USD 1 Quarter
Provision for Income Taxes (Note 17) IncomeTaxExpenseBenefit $6.95M USD 1 Quarter
Net Income ProfitLoss $31.91M USD 1 Quarter
Net Income ProfitLoss $30.72M USD 1 Quarter
Net Loss Attributable to Noncontrolling Interests (Note 2) NetIncomeLossAttributableToNoncontrollingInterest $-1.00K USD 1 Quarter
Net Loss Attributable to Noncontrolling Interests (Note 2) NetIncomeLossAttributableToNoncontrollingInterest $-7.00K USD 1 Quarter
Net Income Attributable to Stepan Company NetIncomeLoss $30.72M USD 1 Quarter
Net Income Attributable to Stepan Company NetIncomeLoss $31.91M USD 1 Quarter
Basic EarningsPerShareBasic $1.33 USD 1 Quarter
Basic EarningsPerShareBasic $1.39 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.37 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.31 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 22.90M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 23.08M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 23.39M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 23.33M shares 1 Quarter
Dividends Declared Per Common Share CommonStockDividendsPerShareDeclared $0.23 USD 1 Quarter
Dividends Declared Per Common Share CommonStockDividendsPerShareDeclared $0.21 USD 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $31.91M USD 1 Quarter
Net income ProfitLoss $30.72M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $18.71M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $19.95M USD 1 Quarter
Deferred compensation DeferredCompensationExpenseIncome $376.00K USD 1 Quarter
Deferred compensation DeferredCompensationExpenseIncome $1.61M USD 1 Quarter
Realized and unrealized gains on long-term investments GainLossOnInvestments $1.65M USD 1 Quarter
Realized and unrealized gains on long-term investments GainLossOnInvestments $97.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $2.23M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $1.39M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $2.54M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $357.00K USD 1 Quarter
Other non-cash items OtherNoncashIncomeExpense $-31.00K USD 1 Quarter
Other non-cash items OtherNoncashIncomeExpense $-721.00K USD 1 Quarter
Receivables, net IncreaseDecreaseInReceivables $20.26M USD 1 Quarter
Receivables, net IncreaseDecreaseInReceivables $24.23M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $8.99M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $14.40M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherOperatingAssets $1.69M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherOperatingAssets $684.00K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-14.18M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-19.52M USD 1 Quarter
Pension liabilities IncreaseDecreaseInPensionPlanObligations $-127.00K USD 1 Quarter
Pension liabilities IncreaseDecreaseInPensionPlanObligations $-116.00K USD 1 Quarter
Environmental and legal liabilities EnvironmentalAndLegalLiabilitiesIncreaseDecrease $24.00K USD 1 Quarter
Environmental and legal liabilities EnvironmentalAndLegalLiabilitiesIncreaseDecrease $-225.00K USD 1 Quarter
Deferred revenues DeferredRevenuePeriodIncreaseDecrease $-81.00K USD 1 Quarter
Deferred revenues DeferredRevenuePeriodIncreaseDecrease $-81.00K USD 1 Quarter
Net Cash Provided By Operating Activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $3.28M USD 1 Quarter
Net Cash Provided By Operating Activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $959.00K USD 1 Quarter
Expenditures for property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $20.40M USD 1 Quarter
Expenditures for property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $27.36M USD 1 Quarter
Business acquisition (Note 16) PaymentsToAcquireBusinessesGross $21.48M USD 1 Quarter
Business acquisition (Note 16) PaymentsToAcquireBusinessesGross $4.34M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $-1.78M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $1.89M USD 1 Quarter
Net Cash Used In Investing Activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-26.62M USD 1 Quarter
Net Cash Used In Investing Activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-47.05M USD 1 Quarter
Revolving debt and bank overdrafts, net ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess $79.00K USD 1 Quarter
Other debt repayments RepaymentsOfLongTermDebt $441.00K USD 1 Quarter
Dividends paid PaymentsOfDividends $4.61M USD 1 Quarter
Dividends paid PaymentsOfDividends $5.09M USD 1 Quarter
Company stock repurchased PaymentsForRepurchaseOfCommonStock $1.50M USD 1 Quarter
Company stock repurchased PaymentsForRepurchaseOfCommonStock $2.50M USD 1 Quarter
Stock option exercises ProceedsFromStockOptionsExercised $835.00K USD 1 Quarter
Stock option exercises ProceedsFromStockOptionsExercised $3.15M USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-4.39M USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-1.49M USD 1 Quarter
Net Cash Used In Financing Activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-8.75M USD 1 Quarter
Net Cash Used In Financing Activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-7.20M USD 1 Quarter
Effect of Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $2.61M USD 1 Quarter
Effect of Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $533.00K USD 1 Quarter
Net Decrease in Cash and Cash Equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-54.31M USD 1 Quarter
Net Decrease in Cash and Cash Equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-27.93M USD 1 Quarter
Cash and Cash Equivalents at Beginning of Period CashAndCashEquivalentsAtCarryingValue $225.74M USD Point-in-time
Cash and Cash Equivalents at Beginning of Period CashAndCashEquivalentsAtCarryingValue $197.81M USD Point-in-time
Cash and Cash Equivalents at Beginning of Period CashAndCashEquivalentsAtCarryingValue $298.89M USD Point-in-time
Cash and Cash Equivalents at Beginning of Period CashAndCashEquivalentsAtCarryingValue $244.58M USD Point-in-time
Cash and Cash Equivalents at End of Period CashAndCashEquivalentsAtCarryingValue $225.74M USD Point-in-time
Cash and Cash Equivalents at End of Period CashAndCashEquivalentsAtCarryingValue $197.81M USD Point-in-time
Cash and Cash Equivalents at End of Period CashAndCashEquivalentsAtCarryingValue $298.89M USD Point-in-time
Cash and Cash Equivalents at End of Period CashAndCashEquivalentsAtCarryingValue $244.58M USD Point-in-time
Cash payments of income taxes, net of refunds/payments IncomeTaxesPaidNet $3.35M USD 1 Quarter
Cash payments of income taxes, net of refunds/payments IncomeTaxesPaidNet $5.60M USD 1 Quarter
Cash payments of interest InterestPaid $2.16M USD 1 Quarter
Cash payments of interest InterestPaid $2.07M USD 1 Quarter
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $31.91M USD 1 Quarter
Net income ProfitLoss $30.72M USD 1 Quarter
Foreign currency translation adjustments (Note 10) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $8.82M USD 1 Quarter
Foreign currency translation adjustments (Note 10) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $10.45M USD 1 Quarter
Defined benefit pension adjustments, net of tax (Note 10) OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-565.00K USD 1 Quarter
Defined benefit pension adjustments, net of tax (Note 10) OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-753.00K USD 1 Quarter
Derivative instrument activity, net of tax (Note 10) OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-3.00K USD 1 Quarter
Derivative instrument activity, net of tax (Note 10) OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-2.00K USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTax $9.57M USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTax $11.02M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $42.93M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $40.28M USD 1 Quarter
Comprehensive income attributable to noncontrolling interests (Note 2) ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $25.00K USD 1 Quarter
Comprehensive income attributable to noncontrolling interests (Note 2) ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $12.00K USD 1 Quarter
Comprehensive income attributable to Stepan Company ComprehensiveIncomeNetOfTax $42.92M USD 1 Quarter
Comprehensive income attributable to Stepan Company ComprehensiveIncomeNetOfTax $40.26M USD 1 Quarter

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

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