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10-Q Filing

STEPAN CO CIK: 94049 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0001564590-19-016253
Period End Date 20190331
Filing Date 20190507
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance scl-20190331.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
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $269.46M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $300.19M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 26.44M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 26.31M shares Point-in-time
Treasury stock, shares TreasuryStockCommonShares 3.80M shares Point-in-time
Receivables, net ReceivablesNetCurrent $298.93M USD Point-in-time
Receivables, net ReceivablesNetCurrent $280.02M USD Point-in-time
Treasury stock, shares TreasuryStockCommonShares 3.83M shares Point-in-time
Inventories(1) (Note 2)(Note 7) InventoryNet $231.53M USD Point-in-time
Inventories(1) (Note 2)(Note 7) InventoryNet $215.03M USD Point-in-time
Other current assets OtherAssetsCurrent $24.72M USD Point-in-time
Other current assets OtherAssetsCurrent $22.15M USD Point-in-time
Total current assets AssetsCurrent $808.14M USD Point-in-time
Total current assets AssetsCurrent $833.89M USD Point-in-time
Cost PropertyPlantAndEquipmentGross $1.67B USD Point-in-time
Cost PropertyPlantAndEquipmentGross $1.68B USD Point-in-time
Less: Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.07B USD Point-in-time
Less: Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.06B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $605.36M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $608.89M USD Point-in-time
Goodwill, net Goodwill $22.95M USD Point-in-time
Goodwill, net Goodwill $22.81M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $14.24M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $13.42M USD Point-in-time
Long-term investments (Note 4) LongTermInvestments $25.61M USD Point-in-time
Long-term investments (Note 4) LongTermInvestments $25.08M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $40.33M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $9.55M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $10.33M USD Point-in-time
Total assets Assets $1.53B USD Point-in-time
Total assets Assets $1.51B USD Point-in-time
Current maturities of long-term debt (Note 15) LongTermDebtCurrent $37.06M USD Point-in-time
Current maturities of long-term debt (Note 15) LongTermDebtCurrent $32.80M USD Point-in-time
Accounts payable AccountsPayableCurrent $175.64M USD Point-in-time
Accounts payable AccountsPayableCurrent $205.95M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $95.57M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $87.01M USD Point-in-time
Total current liabilities LiabilitiesCurrent $295.45M USD Point-in-time
Total current liabilities LiabilitiesCurrent $338.58M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $24.96M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $24.16M USD Point-in-time
Long-term debt, less current maturities (Note 15) LongTermDebtNoncurrent $239.06M USD Point-in-time
Long-term debt, less current maturities (Note 15) LongTermDebtNoncurrent $239.02M USD Point-in-time
Non-current operating lease liabilities OperatingLeaseLiabilityNoncurrent $31.36M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $103.86M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $103.75M USD Point-in-time
Commitments and Contingencies (Note 9) CommitmentsAndContingencies - USD Point-in-time
Commitments and Contingencies (Note 9) CommitmentsAndContingencies - USD Point-in-time
Common stock, $1 par value; authorized 60,000,000 shares; Issued 26,440,690 shares in 2019 and 26,308,668 shares in 2018 CommonStockValue $26.44M USD Point-in-time
Common stock, $1 par value; authorized 60,000,000 shares; Issued 26,440,690 shares in 2019 and 26,308,668 shares in 2018 CommonStockValue $26.31M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $185.91M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $182.88M USD Point-in-time
Accumulated other comprehensive loss (Note 12) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-142.58M USD Point-in-time
Accumulated other comprehensive loss (Note 12) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-141.48M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $861.77M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $837.11M USD Point-in-time
Less: Common treasury stock, at cost, 3,826,739 shares in 2019 and 3,803,043 shares in 2018 TreasuryStockCommonValue $100.10M USD Point-in-time
Less: Common treasury stock, at cost, 3,826,739 shares in 2019 and 3,803,043 shares in 2018 TreasuryStockCommonValue $97.39M USD Point-in-time
Total Stepan Company stockholders equity StockholdersEquity $831.45M USD Point-in-time
Total Stepan Company stockholders equity StockholdersEquity $807.42M USD Point-in-time
Noncontrolling interests (Note 3) MinorityInterest $774.00K USD Point-in-time
Noncontrolling interests (Note 3) MinorityInterest $760.00K USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $808.18M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $832.22M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $766.22M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $801.96M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $1.53B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $1.51B USD Point-in-time
Income Statement 44 line items
Line Item Tag Value Unit Period
Net Sales RevenueFromContractWithCustomerExcludingAssessedTax $489.17M USD 1 Quarter
Net Sales RevenueFromContractWithCustomerExcludingAssessedTax $499.33M USD 1 Quarter
Cost of Sales CostOfGoodsAndServicesSold $408.14M USD 1 Quarter
Cost of Sales CostOfGoodsAndServicesSold $404.56M USD 1 Quarter
Gross Profit GrossProfit $91.20M USD 1 Quarter
Gross Profit GrossProfit $84.61M USD 1 Quarter
Selling SellingAndMarketingExpense $13.97M USD 1 Quarter
Selling SellingAndMarketingExpense $14.89M USD 1 Quarter
Administrative GeneralAndAdministrativeExpense $19.31M USD 1 Quarter
Administrative GeneralAndAdministrativeExpense $19.44M USD 1 Quarter
Research, development and technical services ResearchDevelopmentTechnicalServicesExpense $13.39M USD 1 Quarter
Research, development and technical services ResearchDevelopmentTechnicalServicesExpense $13.61M USD 1 Quarter
Deferred compensation expense DeferredCompensationExpenseIncome $1.61M USD 1 Quarter
Deferred compensation expense DeferredCompensationExpenseIncome $7.47M USD 1 Quarter
Total Operating expenses OperatingExpenses $49.56M USD 1 Quarter
Total Operating expenses OperatingExpenses $54.14M USD 1 Quarter
Business restructuring expenses (Note 17) RestructuringCharges $733.00K USD 1 Quarter
Business restructuring expenses (Note 17) RestructuringCharges $358.00K USD 1 Quarter
Operating Income OperatingIncomeLoss $29.74M USD 1 Quarter
Operating Income OperatingIncomeLoss $41.28M USD 1 Quarter
Interest, net InterestIncomeExpenseNonoperatingNet $-3.15M USD 1 Quarter
Interest, net InterestIncomeExpenseNonoperatingNet $-1.85M USD 1 Quarter
Other, net (Note 16) OtherNonoperatingIncomeExpense $1.16M USD 1 Quarter
Other, net (Note 16) OtherNonoperatingIncomeExpense $3.15M USD 1 Quarter
Nonoperating Income (Expense), Total NonoperatingIncomeExpense $-1.99M USD 1 Quarter
Nonoperating Income (Expense), Total NonoperatingIncomeExpense $1.29M USD 1 Quarter
Income Before Provision for Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $31.03M USD 1 Quarter
Income Before Provision for Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $39.29M USD 1 Quarter
Provision for Income Taxes IncomeTaxExpenseBenefit $6.05M USD 1 Quarter
Provision for Income Taxes IncomeTaxExpenseBenefit $7.35M USD 1 Quarter
Net Income ProfitLoss $31.95M USD 1 Quarter
Net Income ProfitLoss $24.98M USD 1 Quarter
Net Loss Attributable to Noncontrolling Interests (Note 3) NetIncomeLossAttributableToNoncontrollingInterest $-7.00K USD 1 Quarter
Net Loss Attributable to Noncontrolling Interests (Note 3) NetIncomeLossAttributableToNoncontrollingInterest $-6.00K USD 1 Quarter
Net Income Attributable to Stepan Company NetIncomeLoss $31.95M USD 1 Quarter
Net Income Attributable to Stepan Company NetIncomeLoss $24.98M USD 1 Quarter
Basic EarningsPerShareBasic $1.38 USD 1 Quarter
Basic EarningsPerShareBasic $1.08 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.37 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.07 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 23.08M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 23.10M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 23.39M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 23.33M shares 1 Quarter
Cash Flow Statement 65 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $31.95M USD 1 Quarter
Net income ProfitLoss $24.98M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $19.40M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $19.95M USD 1 Quarter
Deferred compensation DeferredCompensationExpenseIncome $1.61M USD 1 Quarter
Deferred compensation DeferredCompensationExpenseIncome $7.47M USD 1 Quarter
Realized and unrealized gains on long-term investments GainLossOnInvestments $2.40M USD 1 Quarter
Realized and unrealized gains on long-term investments GainLossOnInvestments $97.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $2.60M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $2.23M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-1.86M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $756.00K USD 1 Quarter
Other non-cash items OtherNoncashIncomeExpense $-31.00K USD 1 Quarter
Other non-cash items OtherNoncashIncomeExpense $-1.44M USD 1 Quarter
Receivables, net IncreaseDecreaseInReceivables $17.43M USD 1 Quarter
Receivables, net IncreaseDecreaseInReceivables $24.23M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $10.62M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-16.23M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherOperatingAssets $3.25M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherOperatingAssets $684.00K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-19.52M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-42.28M USD 1 Quarter
Pension liabilities IncreaseDecreaseInPensionPlanObligations $-392.00K USD 1 Quarter
Pension liabilities IncreaseDecreaseInPensionPlanObligations $-116.00K USD 1 Quarter
Environmental and legal liabilities EnvironmentalAndLegalLiabilitiesIncreaseDecrease $-225.00K USD 1 Quarter
Environmental and legal liabilities EnvironmentalAndLegalLiabilitiesIncreaseDecrease $6.00K USD 1 Quarter
Deferred revenues IncreaseDecreaseInContractWithCustomerLiability $-81.00K USD 1 Quarter
Deferred revenues IncreaseDecreaseInContractWithCustomerLiability $-81.00K USD 1 Quarter
Net Cash Provided By Operating Activities NetCashProvidedByUsedInOperatingActivities $4.44M USD 1 Quarter
Net Cash Provided By Operating Activities NetCashProvidedByUsedInOperatingActivities $959.00K USD 1 Quarter
Expenditures for property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $27.36M USD 1 Quarter
Expenditures for property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $25.74M USD 1 Quarter
Business acquisition (Note 18) PaymentsToAcquireBusinessesGross $21.48M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $-2.04M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $-1.78M USD 1 Quarter
Net Cash Used In Investing Activities NetCashProvidedByUsedInInvestingActivities $-23.70M USD 1 Quarter
Net Cash Used In Investing Activities NetCashProvidedByUsedInInvestingActivities $-47.05M USD 1 Quarter
Revolving debt and bank overdrafts, net ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess $79.00K USD 1 Quarter
Revolving debt and bank overdrafts, net ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess $-4.23M USD 1 Quarter
Dividends paid PaymentsOfDividends $5.09M USD 1 Quarter
Dividends paid PaymentsOfDividends $5.64M USD 1 Quarter
Company stock repurchased PaymentsForRepurchaseOfCommonStock $77.00K USD 1 Quarter
Company stock repurchased PaymentsForRepurchaseOfCommonStock $2.50M USD 1 Quarter
Stock option exercises ProceedsFromStockOptionsExercised $3.15M USD 1 Quarter
Stock option exercises ProceedsFromStockOptionsExercised $1.89M USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-4.39M USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-2.72M USD 1 Quarter
Net Cash Used In Financing Activities NetCashProvidedByUsedInFinancingActivities $-10.78M USD 1 Quarter
Net Cash Used In Financing Activities NetCashProvidedByUsedInFinancingActivities $-8.75M USD 1 Quarter
Effect of Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $533.00K USD 1 Quarter
Effect of Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $-689.00K USD 1 Quarter
Net Decrease in Cash and Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-54.31M USD 1 Quarter
Net Decrease in Cash and Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-30.73M USD 1 Quarter
Cash and Cash Equivalents at Beginning of Period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $298.89M USD Point-in-time
Cash and Cash Equivalents at Beginning of Period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $269.46M USD Point-in-time
Cash and Cash Equivalents at Beginning of Period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $300.19M USD Point-in-time
Cash and Cash Equivalents at Beginning of Period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $244.58M USD Point-in-time
Cash and Cash Equivalents at End of Period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $298.89M USD Point-in-time
Cash and Cash Equivalents at End of Period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $269.46M USD Point-in-time
Cash and Cash Equivalents at End of Period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $300.19M USD Point-in-time
Cash and Cash Equivalents at End of Period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $244.58M USD Point-in-time
Cash payments of income taxes, net of refunds/payments IncomeTaxesPaidNet $3.02M USD 1 Quarter
Cash payments of income taxes, net of refunds/payments IncomeTaxesPaidNet $3.35M USD 1 Quarter
Cash payments of interest InterestPaidNet $2.13M USD 1 Quarter
Cash payments of interest InterestPaidNet $2.07M USD 1 Quarter
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $31.95M USD 1 Quarter
Net income ProfitLoss $24.98M USD 1 Quarter
Foreign currency translation adjustments (Note 12) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $3.71M USD 1 Quarter
Foreign currency translation adjustments (Note 12) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $8.82M USD 1 Quarter
Defined benefit pension adjustments, net of tax (Note 12) OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-753.00K USD 1 Quarter
Defined benefit pension adjustments, net of tax (Note 12) OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-543.00K USD 1 Quarter
Derivative instrument activity, net of tax (Note 12) OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-2.00K USD 1 Quarter
Derivative instrument activity, net of tax (Note 12) OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-3.00K USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTax $4.25M USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTax $9.57M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $41.51M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $29.23M USD 1 Quarter
Comprehensive income attributable to noncontrolling interests (Note 3) ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $14.00K USD 1 Quarter
Comprehensive income attributable to noncontrolling interests (Note 3) ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $25.00K USD 1 Quarter
Comprehensive income attributable to Stepan Company ComprehensiveIncomeNetOfTax $29.21M USD 1 Quarter
Comprehensive income attributable to Stepan Company ComprehensiveIncomeNetOfTax $41.49M USD 1 Quarter

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

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