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10-Q Filing

STEPAN CO CIK: 94049 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001564590-20-020009
Period End Date 20200331
Filing Date 20200430
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance scl-10q_20200331_htm.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
Common stock, shares issued CommonStockSharesIssued 26.54M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $315.38M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 26.49M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $254.34M USD Point-in-time
Receivables, net ReceivablesNetCurrent $276.84M USD Point-in-time
Treasury stock, shares TreasuryStockCommonShares 4.07M shares Point-in-time
Receivables, net ReceivablesNetCurrent $290.57M USD Point-in-time
Treasury stock, shares TreasuryStockCommonShares 3.98M shares Point-in-time
Inventories (Note 6) InventoryNet $198.19M USD Point-in-time
Inventories (Note 6) InventoryNet $203.65M USD Point-in-time
Other current assets OtherAssetsCurrent $25.44M USD Point-in-time
Other current assets OtherAssetsCurrent $22.92M USD Point-in-time
Total current assets AssetsCurrent $818.79M USD Point-in-time
Total current assets AssetsCurrent $768.54M USD Point-in-time
Cost PropertyPlantAndEquipmentGross $1.76B USD Point-in-time
Cost PropertyPlantAndEquipmentGross $1.75B USD Point-in-time
Less: Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.13B USD Point-in-time
Less: Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.12B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $627.54M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $639.32M USD Point-in-time
Goodwill, net Goodwill $23.06M USD Point-in-time
Goodwill, net Goodwill $26.09M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $15.35M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $15.82M USD Point-in-time
Long-term investments (Note 3) LongTermInvestments $28.23M USD Point-in-time
Long-term investments (Note 3) LongTermInvestments $22.21M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $38.39M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $36.25M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $12.88M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $13.21M USD Point-in-time
Total assets Assets $1.58B USD Point-in-time
Total assets Assets $1.51B USD Point-in-time
Current maturities of long-term debt (Note 14) LongTermDebtCurrent $23.57M USD Point-in-time
Current maturities of long-term debt (Note 14) LongTermDebtCurrent $23.57M USD Point-in-time
Accounts payable AccountsPayableCurrent $194.28M USD Point-in-time
Accounts payable AccountsPayableCurrent $187.94M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $98.65M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $121.27M USD Point-in-time
Total current liabilities LiabilitiesCurrent $339.11M USD Point-in-time
Total current liabilities LiabilitiesCurrent $310.16M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $23.39M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $23.13M USD Point-in-time
Long-term debt, less current maturities (Note 14) LongTermDebtNoncurrent $198.57M USD Point-in-time
Long-term debt, less current maturities (Note 14) LongTermDebtNoncurrent $198.53M USD Point-in-time
Non-current operating lease liabilities OperatingLeaseLiabilityNoncurrent $29.65M USD Point-in-time
Non-current operating lease liabilities OperatingLeaseLiabilityNoncurrent $27.96M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $79.01M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $96.18M USD Point-in-time
Commitments and Contingencies (Note 8) CommitmentsAndContingencies - USD Point-in-time
Commitments and Contingencies (Note 8) CommitmentsAndContingencies - USD Point-in-time
Common stock, $1 par value; authorized 60,000,000 shares; Issued 26,540,546 shares in 2020 and 26,493,335 shares in 2019 CommonStockValue $26.54M USD Point-in-time
Common stock, $1 par value; authorized 60,000,000 shares; Issued 26,540,546 shares in 2020 and 26,493,335 shares in 2019 CommonStockValue $26.49M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $193.13M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $195.66M USD Point-in-time
Accumulated other comprehensive loss (Note 11) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-136.17M USD Point-in-time
Accumulated other comprehensive loss (Note 11) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-176.55M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $922.46M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $943.81M USD Point-in-time
Less: Common treasury stock, at cost, 4,074,935 shares in 2020 and 3,979,735 shares in 2019 TreasuryStockCommonValue $114.14M USD Point-in-time
Less: Common treasury stock, at cost, 4,074,935 shares in 2020 and 3,979,735 shares in 2019 TreasuryStockCommonValue $122.69M USD Point-in-time
Total Stepan Company stockholders' equity StockholdersEquity $891.78M USD Point-in-time
Total Stepan Company stockholders' equity StockholdersEquity $866.78M USD Point-in-time
Noncontrolling interests (Note 2) MinorityInterest $694.00K USD Point-in-time
Noncontrolling interests (Note 2) MinorityInterest $713.00K USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $808.18M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $892.50M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $832.22M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $867.47M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $1.58B 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 $449.99M USD 1 Quarter
Cost of Sales CostOfGoodsAndServicesSold $370.72M USD 1 Quarter
Cost of Sales CostOfGoodsAndServicesSold $404.56M USD 1 Quarter
Gross Profit GrossProfit $79.27M USD 1 Quarter
Gross Profit GrossProfit $84.61M USD 1 Quarter
Selling SellingAndMarketingExpense $13.97M USD 1 Quarter
Selling SellingAndMarketingExpense $13.53M USD 1 Quarter
Administrative GeneralAndAdministrativeExpense $19.31M USD 1 Quarter
Administrative GeneralAndAdministrativeExpense $18.87M USD 1 Quarter
Research, development and technical services ResearchDevelopmentTechnicalServicesExpense $13.39M USD 1 Quarter
Research, development and technical services ResearchDevelopmentTechnicalServicesExpense $13.83M USD 1 Quarter
Deferred compensation (income) expense DeferredCompensationExpenseIncome $7.47M USD 1 Quarter
Deferred compensation (income) expense DeferredCompensationExpenseIncome $-7.32M USD 1 Quarter
Total Operating expenses OperatingExpenses $54.14M USD 1 Quarter
Total Operating expenses OperatingExpenses $38.91M USD 1 Quarter
Business restructuring expenses (Note 16) RestructuringCosts $357.00K USD 1 Quarter
Business restructuring expenses (Note 16) RestructuringCosts $733.00K USD 1 Quarter
Operating Income OperatingIncomeLoss $40.00M USD 1 Quarter
Operating Income OperatingIncomeLoss $29.74M USD 1 Quarter
Interest, net InterestIncomeExpenseNonoperatingNet $-1.85M USD 1 Quarter
Interest, net InterestIncomeExpenseNonoperatingNet $-1.23M USD 1 Quarter
Other, net (Note 15) OtherNonoperatingIncomeExpense $3.15M USD 1 Quarter
Other, net (Note 15) OtherNonoperatingIncomeExpense $-3.26M USD 1 Quarter
Nonoperating Income (Expense), Total NonoperatingIncomeExpense $-4.49M USD 1 Quarter
Nonoperating Income (Expense), Total NonoperatingIncomeExpense $1.29M USD 1 Quarter
Income Before Provision for Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $35.51M USD 1 Quarter
Income Before Provision for Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $31.03M USD 1 Quarter
Provision for Income Taxes IncomeTaxExpenseBenefit $7.97M USD 1 Quarter
Provision for Income Taxes IncomeTaxExpenseBenefit $6.05M USD 1 Quarter
Net Income ProfitLoss $24.98M USD 1 Quarter
Net Income ProfitLoss $27.54M USD 1 Quarter
Net Loss Attributable to Noncontrolling Interests (Note 2) NetIncomeLossAttributableToNoncontrollingInterest $-6.00K USD 1 Quarter
Net Loss Attributable to Noncontrolling Interests (Note 2) NetIncomeLossAttributableToNoncontrollingInterest $-6.00K USD 1 Quarter
Net Income Attributable to Stepan Company NetIncomeLoss $24.98M USD 1 Quarter
Net Income Attributable to Stepan Company NetIncomeLoss $27.55M USD 1 Quarter
Basic EarningsPerShareBasic $1.20 USD 1 Quarter
Basic EarningsPerShareBasic $1.08 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.07 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.18 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 23.02M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 23.10M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 23.33M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 23.29M shares 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $24.98M USD 1 Quarter
Net income ProfitLoss $27.54M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $19.40M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $20.02M USD 1 Quarter
Deferred compensation DeferredCompensationExpenseIncome $7.47M USD 1 Quarter
Deferred compensation DeferredCompensationExpenseIncome $-7.32M USD 1 Quarter
Realized and unrealized (gains) losses on long-term investments GainLossOnInvestments $-3.88M USD 1 Quarter
Realized and unrealized (gains) losses on long-term investments GainLossOnInvestments $2.40M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $1.20M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $2.60M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-1.86M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $131.00K USD 1 Quarter
Other non-cash items OtherNoncashIncomeExpense $-395.00K USD 1 Quarter
Other non-cash items OtherNoncashIncomeExpense $-1.44M USD 1 Quarter
Receivables, net IncreaseDecreaseInReceivables $30.77M USD 1 Quarter
Receivables, net IncreaseDecreaseInReceivables $17.43M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-16.23M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $447.00K USD 1 Quarter
Other current assets IncreaseDecreaseInOtherOperatingAssets $3.25M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherOperatingAssets $3.18M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-42.28M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-16.58M USD 1 Quarter
Pension liabilities IncreaseDecreaseInPensionPlanObligations $-236.00K USD 1 Quarter
Pension liabilities IncreaseDecreaseInPensionPlanObligations $-392.00K USD 1 Quarter
Environmental and legal liabilities EnvironmentalAndLegalLiabilitiesIncreaseDecrease $6.00K USD 1 Quarter
Environmental and legal liabilities EnvironmentalAndLegalLiabilitiesIncreaseDecrease $-947.00K USD 1 Quarter
Deferred revenues IncreaseDecreaseInContractWithCustomerLiability $-157.00K USD 1 Quarter
Deferred revenues IncreaseDecreaseInContractWithCustomerLiability $-81.00K USD 1 Quarter
Net Cash (Used In) Provided By Operating Activities NetCashProvidedByUsedInOperatingActivities $-6.47M USD 1 Quarter
Net Cash (Used In) Provided By Operating Activities NetCashProvidedByUsedInOperatingActivities $4.44M USD 1 Quarter
Expenditures for property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $33.20M USD 1 Quarter
Expenditures for property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $25.74M USD 1 Quarter
Asset acquisition (Note 17) PaymentsToAcquireAssets $2.04M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $-2.04M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $-2.33M USD 1 Quarter
Net Cash Used In Investing Activities NetCashProvidedByUsedInInvestingActivities $-23.70M USD 1 Quarter
Net Cash Used In Investing Activities NetCashProvidedByUsedInInvestingActivities $-32.91M USD 1 Quarter
Revolving debt and bank overdrafts, net ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess $-4.23M USD 1 Quarter
Dividends paid PaymentsOfDividends $5.64M USD 1 Quarter
Dividends paid PaymentsOfDividends $6.20M USD 1 Quarter
Company stock repurchased PaymentsForRepurchaseOfCommonStock $7.24M USD 1 Quarter
Company stock repurchased PaymentsForRepurchaseOfCommonStock $77.00K USD 1 Quarter
Stock option exercises ProceedsFromStockOptionsExercised $1.89M USD 1 Quarter
Stock option exercises ProceedsFromStockOptionsExercised $155.00K USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-1.13M USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-2.72M USD 1 Quarter
Net Cash Used In Financing Activities NetCashProvidedByUsedInFinancingActivities $-14.42M USD 1 Quarter
Net Cash Used In Financing Activities NetCashProvidedByUsedInFinancingActivities $-10.78M USD 1 Quarter
Effect of Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $-689.00K USD 1 Quarter
Effect of Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $-7.24M USD 1 Quarter
Net Decrease in Cash and Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-30.73M USD 1 Quarter
Net Decrease in Cash and Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-61.04M USD 1 Quarter
Cash and Cash Equivalents at Beginning of Period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $254.34M 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 $315.38M USD Point-in-time
Cash and Cash Equivalents at Beginning of Period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $269.46M USD Point-in-time
Cash and Cash Equivalents at End of Period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $254.34M 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 $315.38M USD Point-in-time
Cash and Cash Equivalents at End of Period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $269.46M USD Point-in-time
Cash payments of income taxes, net of refunds/payments IncomeTaxesPaidNet $3.32M USD 1 Quarter
Cash payments of income taxes, net of refunds/payments IncomeTaxesPaidNet $3.02M USD 1 Quarter
Cash payments of interest InterestPaidNet $2.13M USD 1 Quarter
Cash payments of interest InterestPaidNet $2.12M USD 1 Quarter
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $24.98M USD 1 Quarter
Net income ProfitLoss $27.54M USD 1 Quarter
Foreign currency translation adjustments (Note 11) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-41.20M USD 1 Quarter
Foreign currency translation adjustments (Note 11) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $3.71M USD 1 Quarter
Defined benefit pension adjustments, net of tax (Note 11) OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-543.00K USD 1 Quarter
Defined benefit pension adjustments, net of tax (Note 11) OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-808.00K USD 1 Quarter
Derivative instrument activity, net of tax (Note 11) OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-2.00K USD 1 Quarter
Derivative instrument activity, net of tax (Note 11) OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-2.00K USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTax $4.25M USD 1 Quarter
Total other comprehensive income OtherComprehensiveIncomeLossNetOfTax $-40.39M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-12.85M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $29.23M USD 1 Quarter
Comprehensive income attributable to noncontrolling interests (Note 2) ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-19.00K USD 1 Quarter
Comprehensive income attributable to noncontrolling interests (Note 2) ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $14.00K USD 1 Quarter
Comprehensive income attributable to Stepan Company ComprehensiveIncomeNetOfTax $29.21M USD 1 Quarter
Comprehensive income attributable to Stepan Company ComprehensiveIncomeNetOfTax $-12.83M USD 1 Quarter

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

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