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10-Q Filing

STEPAN CO CIK: 94049 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001564590-21-024695
Period End Date 20210331
Filing Date 20210506
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance scl-10q_20210331_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 26.66M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $150.69M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 26.73M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $349.94M USD Point-in-time
Treasury stock, shares TreasuryStockCommonShares 4.19M shares Point-in-time
Receivables, net ReceivablesNetCurrent $380.65M USD Point-in-time
Receivables, net ReceivablesNetCurrent $301.32M USD Point-in-time
Treasury stock, shares TreasuryStockCommonShares 4.21M shares Point-in-time
Inventories (Note 6) InventoryNet $218.78M USD Point-in-time
Inventories (Note 6) InventoryNet $235.06M USD Point-in-time
Other current assets OtherAssetsCurrent $31.25M USD Point-in-time
Other current assets OtherAssetsCurrent $35.61M USD Point-in-time
Total current assets AssetsCurrent $905.65M USD Point-in-time
Total current assets AssetsCurrent $797.65M USD Point-in-time
Cost PropertyPlantAndEquipmentGross $1.87B USD Point-in-time
Cost PropertyPlantAndEquipmentGross $1.95B USD Point-in-time
Less: Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.19B USD Point-in-time
Less: Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.20B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $682.67M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $746.38M USD Point-in-time
Goodwill, net (Note 17) Goodwill $96.25M USD Point-in-time
Goodwill, net (Note 17) Goodwill $27.97M USD Point-in-time
Other intangible assets, net (Note 17) IntangibleAssetsNetExcludingGoodwill $66.81M USD Point-in-time
Other intangible assets, net (Note 17) IntangibleAssetsNetExcludingGoodwill $24.07M USD Point-in-time
Long-term investments (Note 3) LongTermInvestments $30.65M USD Point-in-time
Long-term investments (Note 3) LongTermInvestments $30.21M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $62.42M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $72.16M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $18.47M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $18.91M USD Point-in-time
Total assets Assets $1.75B USD Point-in-time
Total assets Assets $1.83B USD Point-in-time
Current maturities of long-term debt (Note 14) LongTermDebtCurrent $37.86M USD Point-in-time
Current maturities of long-term debt (Note 14) LongTermDebtCurrent $87.53M USD Point-in-time
Accounts payable AccountsPayableCurrent $236.75M USD Point-in-time
Accounts payable AccountsPayableCurrent $264.19M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $112.37M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $141.95M USD Point-in-time
Total current liabilities LiabilitiesCurrent $416.55M USD Point-in-time
Total current liabilities LiabilitiesCurrent $464.09M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $20.75M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $29.88M USD Point-in-time
Long-term debt, less current maturities (Note 14) LongTermDebtNoncurrent $160.81M USD Point-in-time
Long-term debt, less current maturities (Note 14) LongTermDebtNoncurrent $160.85M USD Point-in-time
Non-current operating lease liabilities OperatingLeaseLiabilityNoncurrent $60.43M USD Point-in-time
Non-current operating lease liabilities OperatingLeaseLiabilityNoncurrent $51.57M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $114.29M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $108.75M 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 26,725,620 shares in 2021 and 26,658,032 shares in 2020 CommonStockValue $26.66M USD Point-in-time
Common stock, $1 par value; authorized 60,000,000 shares; Issued 26,725,620 shares in 2021 and 26,658,032 shares in 2020 CommonStockValue $26.73M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $209.47M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $206.72M USD Point-in-time
Accumulated other comprehensive loss (Note 11) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-154.44M USD Point-in-time
Accumulated other comprehensive loss (Note 11) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-136.88M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.06B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.02B USD Point-in-time
Less: Common treasury stock, at cost, 4,208,867 shares in 2021 and 4,185,242 shares in 2020 TreasuryStockCommonValue $133.63M USD Point-in-time
Less: Common treasury stock, at cost, 4,208,867 shares in 2021 and 4,185,242 shares in 2020 TreasuryStockCommonValue $137.05M USD Point-in-time
Total Stepan Company stockholders equity StockholdersEquity $986.69M USD Point-in-time
Total Stepan Company stockholders equity StockholdersEquity $1.00B USD Point-in-time
Noncontrolling interests (Note 2) MinorityInterest $1.67M USD Point-in-time
Noncontrolling interests (Note 2) MinorityInterest $1.66M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $867.47M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $988.37M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.00B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $892.50M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $1.75B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $1.83B USD Point-in-time
Income Statement 43 line items
Line Item Tag Value Unit Period
Net Sales RevenueFromContractWithCustomerExcludingAssessedTax $449.99M USD 1 Quarter
Net Sales RevenueFromContractWithCustomerExcludingAssessedTax $537.74M USD 1 Quarter
Cost of Sales CostOfGoodsAndServicesSold $370.72M USD 1 Quarter
Cost of Sales CostOfGoodsAndServicesSold $428.76M USD 1 Quarter
Gross Profit GrossProfit $79.27M USD 1 Quarter
Gross Profit GrossProfit $108.98M USD 1 Quarter
Selling SellingAndMarketingExpense $14.50M USD 1 Quarter
Selling SellingAndMarketingExpense $13.53M USD 1 Quarter
Administrative GeneralAndAdministrativeExpense $18.87M USD 1 Quarter
Administrative GeneralAndAdministrativeExpense $22.64M USD 1 Quarter
Research, development and technical services ResearchDevelopmentTechnicalServicesExpense $15.15M USD 1 Quarter
Research, development and technical services ResearchDevelopmentTechnicalServicesExpense $13.83M USD 1 Quarter
Deferred compensation (income) expense DeferredCompensationExpenseIncome $-7.32M USD 1 Quarter
Deferred compensation (income) expense DeferredCompensationExpenseIncome $2.69M USD 1 Quarter
Total Operating expenses OperatingExpenses $38.91M USD 1 Quarter
Total Operating expenses OperatingExpenses $54.98M USD 1 Quarter
Business restructuring expenses (Note 16) RestructuringCosts $81.00K USD 1 Quarter
Business restructuring expenses (Note 16) RestructuringCosts $357.00K USD 1 Quarter
Operating Income OperatingIncomeLoss $53.91M USD 1 Quarter
Operating Income OperatingIncomeLoss $40.00M USD 1 Quarter
Interest, net InterestIncomeExpenseNonoperatingNet $-1.52M USD 1 Quarter
Interest, net InterestIncomeExpenseNonoperatingNet $-1.23M USD 1 Quarter
Other, net (Note 15) OtherNonoperatingIncomeExpense $746.00K USD 1 Quarter
Other, net (Note 15) OtherNonoperatingIncomeExpense $-3.26M USD 1 Quarter
Nonoperating Income (Expense), Total NonoperatingIncomeExpense $-778.00K USD 1 Quarter
Nonoperating Income (Expense), Total NonoperatingIncomeExpense $-4.49M USD 1 Quarter
Income Before Provision for Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $53.14M USD 1 Quarter
Income Before Provision for Income Taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $35.51M USD 1 Quarter
Provision for Income Taxes IncomeTaxExpenseBenefit $7.97M USD 1 Quarter
Provision for Income Taxes IncomeTaxExpenseBenefit $12.53M USD 1 Quarter
Net Income ProfitLoss $27.54M USD 1 Quarter
Net Income ProfitLoss $40.61M USD 1 Quarter
Net Loss Attributable to Noncontrolling Interests (Note 2) NetIncomeLossAttributableToNoncontrollingInterest $-6.00K USD 1 Quarter
Net Income Attributable to Stepan Company NetIncomeLoss $40.61M USD 1 Quarter
Net Income Attributable to Stepan Company NetIncomeLoss $27.55M USD 1 Quarter
Basic EarningsPerShareBasic $1.77 USD 1 Quarter
Basic EarningsPerShareBasic $1.20 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.74 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.18 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 23.02M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 22.97M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 23.29M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 23.33M shares 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $27.54M USD 1 Quarter
Net income ProfitLoss $40.61M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $22.06M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $20.02M USD 1 Quarter
Deferred compensation DeferredCompensationExpenseIncome $-7.32M USD 1 Quarter
Deferred compensation DeferredCompensationExpenseIncome $2.69M 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 $534.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $1.20M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $2.54M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $2.48M 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 $40.00K USD 1 Quarter
Receivables, net IncreaseDecreaseInReceivables $63.24M USD 1 Quarter
Receivables, net IncreaseDecreaseInReceivables $30.77M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $7.48M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $447.00K USD 1 Quarter
Other current assets IncreaseDecreaseInOtherOperatingAssets $3.18M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherOperatingAssets $861.00K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-9.38M 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 $-451.00K USD 1 Quarter
Environmental and legal liabilities EnvironmentalAndLegalLiabilitiesIncreaseDecrease $-21.00K USD 1 Quarter
Environmental and legal liabilities EnvironmentalAndLegalLiabilitiesIncreaseDecrease $-947.00K USD 1 Quarter
Deferred revenues IncreaseDecreaseInContractWithCustomerLiability $-80.00K USD 1 Quarter
Deferred revenues IncreaseDecreaseInContractWithCustomerLiability $-157.00K USD 1 Quarter
Net Cash Used In Operating Activities NetCashProvidedByUsedInOperatingActivities $-11.70M USD 1 Quarter
Net Cash Used In Operating Activities NetCashProvidedByUsedInOperatingActivities $-6.47M USD 1 Quarter
Expenditures for property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $37.63M USD 1 Quarter
Expenditures for property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $33.20M USD 1 Quarter
Asset acquisition (Note 17) PaymentsToAcquireAssets $2.04M USD 1 Quarter
Asset acquisition (Note 17) PaymentsToAcquireAssets $3.50M USD 1 Quarter
Business acquisition, net of cash acquired (Note 17) PaymentsToAcquireBusinessesGross $184.00M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $-2.33M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $-1.38M USD 1 Quarter
Net Cash Used In Investing Activities NetCashProvidedByUsedInInvestingActivities $-32.91M USD 1 Quarter
Net Cash Used In Investing Activities NetCashProvidedByUsedInInvestingActivities $-223.76M USD 1 Quarter
Revolving debt and bank overdrafts, net ProceedsFromLinesOfCredit $49.67M USD 1 Quarter
Dividends paid PaymentsOfDividends $6.86M USD 1 Quarter
Dividends paid PaymentsOfDividends $6.20M USD 1 Quarter
Company stock repurchased PaymentsForRepurchaseOfCommonStock $7.24M USD 1 Quarter
Company stock repurchased PaymentsForRepurchaseOfCommonStock $989.00K USD 1 Quarter
Stock option exercises ProceedsFromStockOptionsExercised $155.00K USD 1 Quarter
Stock option exercises ProceedsFromStockOptionsExercised $381.00K USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-2.27M USD 1 Quarter
Other, net ProceedsFromPaymentsForOtherFinancingActivities $-1.13M USD 1 Quarter
Net Cash (Used In) Provided By Financing Activities NetCashProvidedByUsedInFinancingActivities $39.93M USD 1 Quarter
Net Cash (Used In) Provided By Financing Activities NetCashProvidedByUsedInFinancingActivities $-14.42M USD 1 Quarter
Effect of Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $-7.24M USD 1 Quarter
Effect of Exchange Rate Changes on Cash EffectOfExchangeRateOnCashAndCashEquivalents $-3.72M USD 1 Quarter
Net Decrease in Cash and Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-199.25M 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 $150.69M USD Point-in-time
Cash and Cash Equivalents at Beginning of Period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $349.94M USD Point-in-time
Cash and Cash Equivalents at Beginning of Period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $254.34M USD Point-in-time
Cash and Cash Equivalents at Beginning of Period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $315.38M USD Point-in-time
Cash and Cash Equivalents at End of Period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $150.69M USD Point-in-time
Cash and Cash Equivalents at End of Period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $349.94M 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 $315.38M 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 $6.64M USD 1 Quarter
Cash payments of interest InterestPaidNet $2.24M 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 $27.54M USD 1 Quarter
Net income ProfitLoss $40.61M USD 1 Quarter
Foreign currency translation adjustments (Note 11) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-41.20M USD 1 Quarter
Foreign currency translation adjustments (Note 11) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-18.44M USD 1 Quarter
Defined benefit pension adjustments, net of tax (Note 11) OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-874.00K 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 $-17.57M USD 1 Quarter
Total Other Comprehensive Income OtherComprehensiveIncomeLossNetOfTax $-40.39M USD 1 Quarter
Comprehensive Income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $23.04M USD 1 Quarter
Comprehensive Income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-12.85M USD 1 Quarter
Comprehensive Income Attributable to Noncontrolling Interest (Note 2) ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-8.00K USD 1 Quarter
Comprehensive Income Attributable to Noncontrolling Interest (Note 2) ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-19.00K USD 1 Quarter
Comprehensive Income Attributable to Stepan Company ComprehensiveIncomeNetOfTax $-12.83M USD 1 Quarter
Comprehensive Income Attributable to Stepan Company ComprehensiveIncomeNetOfTax $23.05M USD 1 Quarter

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

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