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Research, development and technical services (Note 1)

^[2]

1,652,354,000

1,586,485,000

1,426,897,000

Gross Profit

^[2]

341,503,000

338,522,000

339,269,000

Operating Expenses:

Selling (Note 1)

^[2]

56,319,000

54,090,000

56,922,000

Administrative (Note 1)

^[2]

79,243,000

75,615,000

74,872,000

^[2]

54,263,000

53,696,000

55,776,000

Deferred compensation expense (income)

(2,329,000)

4,857,000

16,805,000

Total Operating expenses

187,496,000

188,258,000

204,375,000

Business restructuring and asset impairments (Note 22)

(2,588,000)

(3,069,000)

(7,064,000)

Operating Income

^[2]

151,419,000

147,195,000

127,830,000

Other Income (Expense):

Interest, net (Note 6)

(10,771,000)

(11,444,000)

(13,205,000)

Other, net (Note 8)

^[2]

(725,000)

3,486,000

(809,000)

Nonoperating Income (Expense), Total

(11,496,000)

(7,958,000)

(14,014,000)

Provision for Income Taxes (Note 9)

139,923,000

139,237,000

113,816,000

27,173,000

47,690,000

27,618,000

Net Income

112,750,000

91,547,000

86,198,000

Net (Income) Loss Attributable to Noncontrolling Interests (Note 1)

12,000

31,000

(7,000)

Net Income Attributable to Stepan Company

$ 112,762,000

$ 91,578,000

$ 86,191,000

Net Income Per Common Share Attributable to Stepan Company (Note 18):

Basic

$ 4.90

$ 3.99

$ 3.78

Diluted

$ 4.83

$ 3.92

$ 3.73

Shares Used to Compute Net Income Per Common Share Attributable to Stepan Company (Note 18):

Basic

23,022

22,946

22,793

Diluted

23,325

23,377

23,094

[1]	Net sales are attributed to countries based on the location of the Company facility making the sales.
[2]	The 2017 and 2016 amounts for the noted line items have been immaterially changed from the amounts originally reported as a result of the Company’s first quarter 2018 adoption of ASU No. 2017-7, Compensation –Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net Income	$ 112,750	$ 91,547	$ 86,198
Other Comprehensive Income (Loss):
Foreign currency translation adjustments (Note 19)	(37,966)	26,293	(8,533)
Defined benefit pension plans:
Net actuarial gain (loss) arising in period (net of taxes of $2,300, $771 and $3,391 for 2018, 2017 and 2016, respectively)	(7,080)	(582)	3,818
Amortization of prior service cost included in pension expense (net of taxes of $3, $4 and $4 for 2018, 2017 and 2016, respectively)	10	10	10
Amortization of actuarial loss included in pension expense (net of taxes of $979, $1,240 and $1,301 for 2018, 2017 and 2016, respectively)	3,080	2,269	2,207
Net defined benefit pension plan activity (Note 19)	(3,990)	1,697	6,035
Cash flow hedges:
Losses arising in period (net of taxes of $0, $0 and $9 in 2018, 2017 and 2016, respectively)			(19)
Reclassifications to income in period (net of taxes of $0, $0 and $28 in 2018, 2017 and 2016, respectively)	(10)	(9)	45
Net cash flow hedge activity (Note 19)	(10)	(9)	26
Other Comprehensive Income (Loss)	(41,966)	27,981	(2,472)
Comprehensive Income	70,784	119,528	83,726
Comprehensive (Income) Loss Attributable to Noncontrolling Interests	58	(48)	88
Comprehensive Income Attributable to Stepan Company	$ 70,842	$ 119,480	$ 83,814

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net actuarial loss arising in period, tax	$ 2,300	$ 771	$ 3,391
Amortization of prior service cost included in pension expense, tax	3	4	4
Amortization of actuarial loss included in pension expense, tax	979	1,240	1,301
Losses arising in period, tax	0	0	9
Reclassifications to income in period, tax	$ 0	$ 0	$ 28

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 300,194	$ 298,894
Receivables, less allowances of $9,654 in 2018 and $10,116 in 2017	280,025	293,541
Inventories (Note 5)	200,165	172,748
Other current assets	22,146	23,553
Total current assets	802,530	788,736
Property, Plant and Equipment:
Land	26,341	17,136
Buildings and improvements	212,072	203,879
Machinery and equipment	1,365,509	1,324,415
Construction in progress	62,868	57,856
Property, Plant and Equipment, Gross	1,666,790	1,603,286
Less: accumulated depreciation	(1,057,898)	(1,004,843)
Property, plant and equipment, net	608,892	598,443
Goodwill, net (Note 4)	22,954	25,118
Other intangible assets, net (Note 4)	14,244	18,538
Long-term investments (Note 2)	25,082	28,270
Other non-current assets	10,964	11,756
Total Assets	1,484,666	1,470,861
Current Liabilities:
Current maturities of long-term debt (Note 6)	37,058	22,500
Accounts payable	205,954	204,977
Accrued liabilities (Note 14)	95,570	92,776
Total current liabilities	338,582	320,253
Deferred income taxes (Note 9)	18,672	10,962
Long-term debt, less current maturities (Note 6)	239,022	268,299
Other non-current liabilities (Note 15)	103,864	130,433
Commitments and Contingencies (Note 16)
Equity (Note 10):
Common stock, $1 par value; authorized 60,000,000 shares; issued 26,308,668 shares in 2018 and 26,070,787 shares in 2017	26,309	26,071
Additional paid-in capital	182,881	170,408
Accumulated other comprehensive loss (Note 19)	(141,483)	(99,563)
Retained earnings	813,448	721,741
Less: Common treasury stock, at cost, 3,803,043 shares in 2018 and 3,561,509 shares in 2017	(97,389)	(78,561)
Total Stepan Company stockholders’ equity	783,766	740,096
Noncontrolling interests	760	818
Total equity	784,526	740,914
Total Liabilities and Equity	$ 1,484,666	$ 1,470,861

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Allowances	$ 9,654	$ 10,116
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares issued	26,308,668	26,070,787
Treasury stock, shares	3,803,043	3,561,509

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash Flows From Operating Activities
Net income	$ 112,750,000	$ 91,547,000	$ 86,198,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	81,115,000	79,022,000	74,967,000
Deferred compensation	(2,329,000)	4,857,000	16,805,000
Realized and unrealized gain on long-term investments	2,966,000	(4,178,000)	(152,000)
Stock-based compensation	6,837,000	7,151,000	12,618,000
Deferred income taxes	10,864,000	550,000	(8,426,000)
Other non-cash items	4,622,000	4,857,000	7,334,000
Changes in assets and liabilities, excluding effects of acquisitions:
Receivables, net	5,196,000	(16,358,000)	(17,180,000)
Inventories	(26,832,000)	5,655,000	(3,774,000)
Other current assets	832,000	(489,000)	1,471,000
Accounts payable and accrued liabilities	(19,023,000)	30,476,000	38,261,000
Pension liabilities	(5,065,000)	(1,960,000)	607,000
Environmental and legal liabilities	(478,000)	(1,142,000)	4,561,000
Deferred revenues	(324,000)	(1,125,000)	(1,128,000)
Net Cash Provided By Operating Activities	171,131,000	198,863,000	212,162,000
Cash Flows From Investing Activities
Expenditures for property, plant and equipment	(86,647,000)	(78,613,000)	(103,076,000)
Business acquisitions, net of cash acquired (Note 20)	(22,852,000)	(4,339,000)	(23,510,000)
Other, net	1,684,000	269,000	(3,935,000)
Net Cash Used In Investing Activities	(107,815,000)	(82,683,000)	(130,521,000)
Cash Flows From Financing Activities
Revolving debt and bank overdrafts, net	6,045,000	(6,008,000)	1,292,000
Other debt repayments	(20,714,000)	(20,714,000)	(15,069,000)
Dividends paid	(20,857,000)	(18,907,000)	(17,329,000)
Company stock repurchased	(15,500,000)	(6,000,000)	(2,408,000)
Stock option exercises	4,163,000	3,370,000	4,017,000
Other, net	(4,785,000)	(2,238,000)	(275,000)
Net Cash Used In Financing Activities	(51,648,000)	(50,497,000)	(29,772,000)
Effect of Exchange Rate Changes on Cash	(10,368,000)	7,468,000	(2,269,000)
Net Increase in Cash and Cash Equivalents	1,300,000	73,151,000	49,600,000
Cash and Cash Equivalents at Beginning of Year	298,894,000	225,743,000	176,143,000
Cash and Cash Equivalents at End of Year	300,194,000	298,894,000	225,743,000
Supplemental Cash Flow Information
Cash payments of income taxes, net of refunds	32,973,000	25,661,000	30,581,000
Cash payments of interest	$ 12,829,000	$ 13,889,000	$ 14,730,000

Consolidated Statements of Equity - USD ($)
$ in Thousands

Total

Common Stock [Member]

Additional Paid-in Capital [Member]

Treasury Stock [Member]

Accumulated Other Comprehensive Income (Loss) [Member]

Retained Earnings [Member]

Noncontrolling Interests' Equity [Member]

Beginning Balance at Dec. 31, 2015

$ 558,384

$ 25,709

$ 144,601

$ (68,446)

$ (125,088)

$ 580,208

$ 1,400

Issuance of common stock under stock option plan

4,017

168

3,849

Purchase of common stock

(2,408)

Stock-based and deferred compensation

9,526

9,592

(84)

Other comprehensive income

86,198

86,191

(2,472)

(2,377)

(95)

Cash dividends paid:

Common stock

(17,329)

Ending Balance at Dec. 31, 2016

635,916

25,895

158,042

(70,938)

(127,465)

649,070

1,312

Issuance of common stock under stock option plan

3,370

104

3,266

Purchase of common stock

(6,000)

Stock-based and deferred compensation

7,549

9,100

(1,623)

Other comprehensive income

91,547

91,578

(31)

27,981

27,902

Cash dividends paid:

Common stock

(18,907)

Payment of cash dividends to noncontrolling interest

(542)

Ending Balance at Dec. 31, 2017

740,914

26,071

170,408

(78,561)

(99,563)

721,741

818

Issuance of common stock under stock option plan

4,163

4,066

Purchase of common stock

(15,500)

Stock-based and deferred compensation

5,220

141

8,407

(3,328)

Other comprehensive income

112,750

112,762

(12)

(41,966)

(41,920)

(46)

Cash dividends paid:

Common stock

(20,857)

Other

^[1]

(198)

Ending Balance at Dec. 31, 2018

$ 784,526

$ 26,309

$ 182,881

$ (97,389)

$ (141,483)

$ 813,448

$ 760

[1]	Includes beginning retained earnings adjustment as a result of the Company’s first quarter 2018 adoption of ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Number of shares of common stock issued under stock option plan	97,471	104,277	167,675
Number of common stock shares purchased	205,983	76,790	43,835
Common stock	$ 0.93	$ 0.86	$ 0.78
Common Stock [Member]
Number of shares of common stock issued under stock option plan	97,471	104,277	167,675
Additional Paid-in Capital [Member]
Number of shares of common stock issued under stock option plan	97,471	104,277	167,675
Treasury Stock [Member]
Number of common stock shares purchased	205,983	76,790	43,835

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

1. Summary of Significant Accounting Policies

Nature of Operations

Stepan Company (the Company) operations consist predominantly of the production and sale of specialty and intermediate chemicals, which are sold to other manufacturers for use in a variety of end products. Principal markets for all products are manufacturers of cleaning and washing compounds (including detergents, shampoos, fabric softeners, toothpastes and household cleaners), paints, cosmetics, food, beverages, nutritional supplements, agricultural products, plastics, furniture, automotive equipment, insulation and refrigeration.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires Company management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and all wholly and majority-owned subsidiaries in which the Company exercises controlling influence. The equity method is used to account for investments in which the Company exercises significant but noncontrolling influence. Intercompany balances and transactions are eliminated in consolidation.

The Company has an 80 percent ownership interest in the Nanjing Stepan Jinling Chemical Limited Liability Company (a joint venture) and exercises controlling influence over the entity. Therefore, Nanjing Stepan Jinling Chemical Limited Liability Company’s accounts are included in the Company’s consolidated financial statements. The partner’s interest in the joint venture’s net income is reported in the net income attributable to noncontrolling interests line of the consolidated statements of income. The partner’s interest in the net assets of the joint venture is reported in the noncontrolling interests line (a component of equity separate from Company equity) of the consolidated balance sheets.

Cash and Cash Equivalents

The Company considers all highly liquid investments with purchased maturities of three months or less to be cash equivalents.

At December 31, 2018, the Company’s cash and cash equivalents totaled $300.2 million including $141.6 million in money market funds, each of which was rated AAAm by Standard and Poor’s, Aaa-mf by Moody’s and AAAmmf by Fitch. Cash in U.S. demand deposit accounts totaled $61.0 million and cash of the Company’s non-U.S. subsidiaries held outside the U.S. totaled $97.6 million.

Receivables and Credit Risk

Receivables are stated net of allowances for doubtful accounts and other allowances and primarily include trade receivables from customers, as well as nontrade receivables from suppliers, governmental tax agencies and others.

The Company is exposed to credit risk on accounts receivable balances. This risk is mitigated by the Company’s large, diverse customer base, which is dispersed over various geographic regions and industrial sectors. No single customer comprised more than 10 percent of the Company’s consolidated net sales in 2018, 2017 or 2016.

The Company maintains allowances for potential credit losses. Specific customer allowances are recorded when a review of customer creditworthiness and current economic conditions indicate that collection is doubtful. The Company also maintains other customer allowances that occur in the normal course of business. Such allowances are based on historical averages and trade receivable levels.

The following is an analysis of the allowance for doubtful accounts and other accounts receivable allowances for the years ended December 31, 2018, 2017 and 2016:

(In thousands)	2018			2017		2016
Balance at January 1	$	10,116		$	9,755	$	8,046
Provision charged to income		764			45		1,917
Accounts written off, net of recoveries		(1,226	)		316		(208	)
Balance at December 31	$	9,654		$	10,116	$	9,755

Inventories

Inventories are valued at cost, which is not in excess of market value, and include material, labor and plant overhead costs. The last-in, first-out (LIFO) method is used to determine the cost of the Company’s U.S. inventories. The first-in, first-out (FIFO) method is used for all other inventories. Inventories priced at LIFO as of December 31, 2018 and 2017, accounted for 68 and 69 percent of total inventories, respectively.

Property, Plant and Equipment

Depreciation of property, plant and equipment is provided on a straight-line basis over the estimated useful lives of the assets. Lives used for calculating depreciation are generally 30 years for buildings and 15 years for building improvements. For assets classified as machinery and equipment, lives generally used for calculating depreciation expense range from 10 to 15 years for manufacturing equipment, five to 10 years for furniture and fixtures, three to five years for vehicles and three to 10 years for computer equipment and software. Manufacturing of chemicals is capital intensive and a large majority of the assets included within machinery and equipment represent manufacturing equipment. Major renewals and betterments are capitalized in the property accounts, while maintenance and repairs ($57,010,000, $51,926,000, and $51,530,000 in 2018, 2017 and 2016, respectively), which do not renew or extend the life of the respective assets, are charged to operations as incurred. Land is not depreciated. The cost of property retired or sold and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in income.

Included in the computer equipment and software component of machinery and equipment are costs related to the acquisition and development of internal-use software. Capitalized costs for internal-use software include external direct costs of materials and services consumed in obtaining and developing the software. For development projects where major internal resources are committed, payroll and payroll-related costs incurred during the application development phase of the project are also capitalized. The capitalized costs are amortized over the useful lives of the software, which are generally three to 10 years. Costs incurred in the preliminary project phase are expensed.

Interest charges on borrowings applicable to major construction projects are capitalized.

Property, plant and equipment assets are tested for impairment when events indicate that impairment may have occurred. See Note 22 for 2016 asset impairments.

Fair Value Measurements

GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Furthermore, GAAP establishes a framework, in the form of a three-level hierarchy, for measuring fair value that prioritizes the inputs to valuation techniques used to measure fair value. The following describes the hierarchy levels:

Level 1 - quoted prices in active markets for identical assets and liabilities.

Level 2 - inputs other than quoted prices included within Level 1 that are directly or indirectly observable for the asset or liability, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data.

Level 3 - unobservable inputs which reflect the entity’s own assumptions about the assumptions market participants use in pricing the assets and liabilities.

The Company applies the fair value measurement provisions of GAAP to any of its financial assets and liabilities that are carried at fair value on the consolidated balance sheets (see Note 2), its outstanding debt for disclosure purposes (also Note 2) and its pension plan assets (see Note 13).

The Company also applies the fair value measurement requirements to nonrecurring fair value measurements of nonfinancial assets and liabilities recorded in conjunction with business combinations and as part of impairment reviews for goodwill and other long-lived assets.

Revenue Recognition

The Company’s contracts typically have a single performance obligation that is satisfied at the time product is shipped and control passes to the customer. For a small portion of the business, performance obligations are deemed satisfied when product is delivered to a customer location. For arrangements where the Company consigns product to a customer location, revenue is recognized when the customer uses the inventory. The Company accounts for shipping and handling as activities to fulfill a promise to transfer a good. As such, shipping and handling fees billed to customers in a sales transaction are recorded in Net Sales and shipping and handling costs incurred are recorded in Cost of Sales. Volume and cash discounts due customers are estimated and recorded in the same period as the sales to which the discounts relate and are reported as reductions of revenue in the consolidated statements of income. See Note 21 to the consolidated financial statements for more details.

Cost of Sales

Cost of sales comprises raw material costs (including inbound freight expense to deliver the raw materials), manufacturing plant labor expenses and various manufacturing overhead expenses, such as utility, maintenance, operating supply, amortization and manufacturing asset depreciation expenses. Cost of sales also includes outbound shipping and handling expenses, inter-plant transfer costs, warehouse expenses and rail car rental expenses.

Operating Expenses

Selling expense comprises salary and the related fringe benefit expenses for marketing and sales personnel and operating costs, such as outside agent commissions, automobile rental and travel-related expenses, which support the sales and marketing functions. Bad debt charges and any depreciation expenses related to marketing assets (e.g., computers) are also classified as selling expense.

Administrative expense comprises salary and the related fringe benefit expenses and operating costs for the Company’s various administrative functions, which include information services, finance, legal, and human resources. The majority of environmental remediation expenses are also classified as administrative expense.

The Company’s research and development costs are expensed as incurred. These expenses are aimed at discovery and commercialization of new knowledge with the intent that such effort will be useful in developing a new product or in bringing about a significant improvement to an existing product or process. Total research and development expenses were $33,519,000, $33,169,000, and $34,856,000 in 2018, 2017 and 2016, respectively. The remainder of research, development and technical service expenses reflected on the consolidated statements of income relates to technical services, which include routine product testing, quality control and sales support service.

Compensation expense or income related to the Company’s deferred compensation plans is presented in the deferred compensation expense (income) line in the Consolidated Statements of Income.

Environmental Expenditures

Environmental expenditures that relate to current operations are expensed in cost of sales. Expenditures that mitigate or prevent environmental contamination and that benefit future operations are capitalized as assets and depreciated on a straight-line basis over the estimated useful lives of the assets, which are typically 10 years.

Estimated future expenditures that relate to an existing condition caused by past operations, and which do not contribute to current or future revenue generation, are recorded as liabilities, with the corresponding charge typically recorded in administrative expenses, when environmental assessments and/or remedial efforts are probable and the cost or range of possible costs can be reasonably estimated. When no amount within the range is a better estimate than any other amount, the minimum amount in the range is accrued. Some of the factors on which the Company bases its estimates include information provided by feasibility studies, potentially responsible party negotiations and the development of remedial action plans. Legal costs related to environmental matters are expensed as incurred (see Note 16 for environmental contingencies).

Goodwill and Other Intangible Assets

The Company’s intangible assets include patents, agreements not to compete, trademarks, customer lists and relationships, technological and manufacturing know-how, supply contracts and goodwill, all of which were acquired as part of business or product line acquisitions. Intangible assets other than goodwill are determined to have either finite or indefinite useful lives. The Company currently has no indefinite-life intangible assets other than goodwill. The values for intangible assets with finite lives are amortized over the useful lives of the assets. Currently, the useful lives for the Company’s finite-lived intangible assets are as follows: patents – 10-15 years; non-compete agreements – five years; trademarks – 11 years; customer relationships – 10-13 years; supply contracts – four years and know-how – eight years. In addition, finite-life intangible assets are tested for impairment when events or changes in circumstances indicate that the carrying value of an intangible asset may not be recoverable. Goodwill is not amortized but is tested for impairment at least annually or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit to which goodwill relates below the reporting unit’s carrying value. See Note 4 for detailed information about goodwill and other intangible assets.

Income Taxes

Income taxes are accounted for under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

Deferred tax assets are recognized to the extent that we believe these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes.

Uncertain tax positions are recorded in accordance with ASC 740 on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.

The Company recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying Consolidated Statement of Operations. Accrued interest and penalties are included within the related tax liability line in the Consolidated Balance Sheet.

The SEC staff issued Staff Accounting Bulletin 118 (SAB 118), which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act. The Company completed and made all adjustments related to the Tax Act as required by SAB 118.

See Note 9 for detailed information about income taxes including SAB 118 disclosures.

Translation of Foreign Currencies

For the Company’s consolidated foreign subsidiaries whose functional currency is the local foreign currency, assets and liabilities are translated into U.S. dollars at exchange rates in effect at year end and revenues and expenses are translated at average exchange rates for the year. Any resulting translation adjustments are included in the consolidated balance sheets in the accumulated other comprehensive loss line of stockholders’ equity. Gains or losses on foreign currency transactions are reflected in the other, net caption of the consolidated statements of income. The Company has two foreign subsidiaries whose functional currencies are the U.S. dollar. For these subsidiaries, nonmonetary assets and liabilities are translated at historical rates, monetary assets and liabilities are translated at exchange rates in effect at year end, revenues and expenses are translated at average exchange rates for the year and translation gains and losses are included in the other, net caption of the consolidated statements of income.

Stock-Based Compensation

The Company grants stock options, stock awards (including performance-based stock awards) and stock appreciation rights (SARs) to certain employees under its incentive compensation plans. The Company calculates the fair values of stock options, stock awards and SARs on the date such instruments are granted. The fair values of the stock options and stock awards are then recognized as compensation expense over the vesting periods of the instruments. The Company’s SARs granted before 2015 settle in cash. The cash-settled SARs are accounted for as liabilities that must be re-measured at fair value at the end of each reporting period. Compensation expense for each reporting period is calculated as the period-to-period change (or portion of the change, depending on the proportion of the vesting period that has been completed at the reporting date) in the fair value of the cash-settled SARs. SARs granted subsequent to 2014 are settled in shares of Company common stock. Compensation expense for the stock-settled SARs is calculated in the same way as compensation expense for stock options. See Note 11 for detailed information about the Company’s stock-based compensation.

Earnings Per Share

Basic earnings per share amounts are computed as net income attributable to the Company divided by the weighted-average number of common shares outstanding. Diluted earnings per share amounts are based on the weighted-average number of common shares outstanding plus the weighted-average of net common shares (under the treasury stock method) that would be outstanding assuming the exercise of outstanding stock options and stock-settled SARs, the vesting of unvested stock awards that have no performance or market condition and the issuance of contingent performance stock awards. See Note 18 for detailed information about the Company’s earnings per share calculations.

Comprehensive Income and Accumulated Other Comprehensive Income

Comprehensive income includes net income and all other non-owner changes in equity that are not reported in net income. Comprehensive income is disclosed in the consolidated statements of comprehensive income. Accumulated other comprehensive income (AOCI) is reported as a component of stockholders’ equity in the Company’s consolidated balance sheets. See Note 19 for detailed information regarding changes in the Company’s AOCI and reclassifications out of AOCI to income.

Segment Reporting

The Company reports financial and descriptive information about its reportable operating segments. Operating segments are components of the Company that have separate financial information that is regularly evaluated by the chief operating decision maker to assess segment performance and allocate resources. The Company discloses segment revenue, operating income, assets, capital expenditures and depreciation and amortization expenses. Enterprise-wide financial information about the geographic locations in which the Company earns revenues and holds assets is also disclosed (see Note 17).

Derivative Instruments

Derivative instruments are recognized in the consolidated balance sheets as either assets or liabilities measured at fair value. For derivative instruments that are not designated as hedging instruments, changes in the fair values of the derivative instruments are recognized currently in earnings. For derivative instruments designated as hedging instruments, depending on the nature of the hedge, changes in the fair values of the derivative instruments are either offset in earnings against changes in the fair values of the hedged items or recognized in AOCI until the hedged transaction is recognized in earnings. At the time a hedging relationship is designated, the Company establishes the method it will use for assessing the effectiveness of the hedge and the measurement approach for determining the ineffective aspect of the hedge. Company policy prohibits the use of derivative instruments for trading or speculative purposes. See Note 3 for further information regarding the Company’s use of derivatives.

At December 31, 2018, the Company held open forward contracts for the purchase of 0.9 million dekatherms of natural gas in 2019 at a cost of $2,442,573. The Company uses forward contracts to minimize its exposure to volatile natural gas prices. Because the Company anticipates taking delivery of the natural gas for use in its operations, the forward contracts qualify for the normal purchase exception provided under U.S. GAAP for derivative instruments. The Company has elected the exception for such contracts. As a result, the forward contracts are not accounted for as derivative instruments. The cost of natural gas is charged to expense at the time the natural gas is delivered and used.

Recent Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (FASB) issued ASU No. 2014-9, Revenue from Contracts with Customers (Topic 606). The new update was later amended by ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date. The standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. In addition, the ASU requires expanded disclosures about revenue recognition that enable the users of the financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU No. 2014-09 supersedes most of the previous revenue recognition guidance. For public entities, the new guidance, as amended, is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. On January 1, 2018, the Company adopted ASU No. 2014-9, which did not have a material effect on the Company’s financial position, results of operations or cash flows. The Company has added Note 21 – Revenue from Contracts with Customers to comply with the expanded disclosure requirements of ASU No. 2014-9.

In February 2016, the FASB issued ASU No. 2016-2, Leases (Topic 842). This guidance requires a dual approach for lessee accounting whereby a lessee will account for lease arrangements with terms greater than 12 months as either finance leases or operating leases. Both finance leases and operating leases will be recognized on the lessee’s balance sheet as right-of-use assets and corresponding lease liabilities, with differing methodologies for income statement recognition. In addition, the ASU requires expanded qualitative and quantitative disclosures about the Company’s lease arrangements. This guidance is effective for public business entities for fiscal years, and interim periods within those years, beginning after December 15, 2018. The most significant impact of ASU No. 2016-2, Leases (Topic 842) is that a lessee will be required to recognize a “right-of-use” asset and corresponding lease liability for operating leases agreements. As allowed under the ASU, the Company will apply the new lease standard beginning on January 1, 2019 by recognizing a cumulative-effect adjustment to the opening balance of retained earnings for any difference between the amount recorded as of January 1, 2019 for the “right-of-use” assets and the corresponding lease liabilities. The Company expects this adjustment to the opening balance of retained earnings to be immaterial. The adoption of these guidelines is expected to have a material impact on specific balance sheet line items but is not expected to materially impact the Company’s results of operations or cash flows. The Company expects to add approximately $42 million of “right-of-use” assets and corresponding lease liabilities to its balance sheet in the first quarter of 2019 to comply with these new accounting updates. The Company has substantially completed its collection and review of global lease contracts. The Company has also substantially completed the configuration and testing of its software solution. The Company expects to be compliant with the ASU No. 2016-2 requirements in the first quarter of 2019.

In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, which adds or clarifies guidance on the classification of eight specific types of cash flows. The update is intended to reduce the existing diversity in practice with respect to the specific cash flow items. The amendments in ASU No. 2016-15 are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. On January 1, 2018, the Company adopted ASU No. 2016-15, which had an immaterial impact on the cash flow presentation and did not impact the Company’s financial position or results of operations.

In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory. The update requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Current accounting guidance prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. The amendments in ASU No. 2016-16 are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The amendments in this update were applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. On January 1, 2018, the Company adopted ASU No. 2016-16, which did not have a material effect on the Company’s financial position or results of operations and cash flows.

In January 2017, the FASB issued ASU No. 2017-4, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which eliminates Step 2 from the goodwill impairment test. When an indication of impairment was identified after performing the first step of the goodwill impairment test, Step 2 required that an entity determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) using the same procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Under the amendments in ASU No. 2017-4, an entity would perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying value. An entity would recognize an impairment charge for the amount by which the carrying value exceeds the reporting unit’s fair value. In addition, an entity must consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. A public business entity that is a SEC filer should adopt the amendments in ASU No. 2017-4 for its annual, or any interim, goodwill impairment tests in fiscal years beginning after December 15, 2019. It is not expected that the adoption of the guidance in ASU No. 2017-4 will have a material effect on the Company’s financial position, results of operations or cash flows.

In January 2017, the FASB issued ASU No. 2017-1, Business Combination (Topic 805): Clarifying the Definition of a Business, with the objective of adding guidance to assist with evaluating whether transactions should be accounted for as an acquisition (or disposal) of assets or a business. This update provides criteria to help determine when a set of assets and activities comprise a business as opposed to an acquisition of assets. This guidance is effective for annual periods beginning after December 15, 2017, including interim periods within those periods. On January 1, 2018, the Company adopted ASU No. 2017-1, which did not have a material effect on the Company’s financial position, results of operations or cash flows.

In March 2017, the FASB issued ASU No. 2017-7, Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which amends existing guidance for the income statement presentation of the components of net periodic benefit cost for an entity’s sponsored defined benefit pension and other postretirement plans. The amended guidance requires entities to include the current service component of net periodic benefit cost in employee compensation costs in the income statement and to include all other components elsewhere in the income statement outside of income from operations. In addition, only the service cost component of net benefit cost is eligible for capitalization. For the Company, ASU No. 2017-7 is effective for interim and annual periods beginning after December 31, 2017. The requirements for the separate presentation of the service cost component and the other components of net periodic benefit cost must be adopted on a retrospective basis. The requirement to capitalize only the service component of net periodic benefit cost must be adopted on a prospective basis. On January 1, 2018, the Company adopted ASU No. 2017-7, which did not have a material effect on the Company’s financial position, results of operation or cash flows but affected the presentation of the Company’s results of operations. For amounts reclassified on the Company’s statements of the results of operations, see Note 8 and Note 13.

In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities, which amends previous guidance regarding hedge accounting recognition and presentation requirements. The updated guidance alters the hedge accounting model to make achieving hedge accounting easier for an entity and to have such accounting better reflect an entity’s risk management activities. ASU No. 2017-12 also adds new, and amends previous, disclosure requirements. For the Company, ASU No. 2017-12 is effective for interim and annual periods beginning after December 15, 2018. Entities must apply a modified retrospective approach to existing hedging relationships as of the adoption date. At present, because the Company has not entered into any transactions designated as accounting hedges, adoption of ASU No. 2017-12 is not expected to have a material effect on the Company’s financial position, results of operations and cash flows.

In January 2018, the FASB issued ASU No. 2018-01, Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842, which permits an entity to select an optional transition practical expedient to not evaluate under Topic 842 existing or expired land easements that were not previously accounted for as leases under the current leases guidance in Topic 840. An entity that elects this practical expedient should apply the practical expedient consistently to all of its existing or expired land easements that were not previously accounted for as leases under Topic 840. Once an entity adopts Topic 842, it should apply that Topic prospectively to all new (or modified) land easements to determine whether the arrangement should be accounted for as a lease. An entity that does not elect this practical expedient should evaluate all existing or expired land easements in connection with the adoption of the new lease requirements in Topic 842 to assess whether they meet the definition of a lease. An entity should continue to apply its current accounting policy for accounting for land easements that existed before the entity’s adoption of Topic 842. This update is effective for public business entities for fiscal years, and interim periods within those years, beginning after December 15, 2018. This update is not expected to have a material impact on the Company’s financial position, results of operations and cash flows.

In February 2018, the FASB issued ASU No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which permits a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Act. Consequently, the update eliminates the stranded tax effects resulting from the Tax Act and should improve the usefulness of information reported to financial statement users. However, because the amendments only relate to the reclassification of the income tax effects of the Tax Act, the underlying guidance that requires that the effects of the change in tax laws or rates be included in income from continuing operations is not affected. The amendments in this update also require certain disclosures about stranded tax effects. This update is effective for public business entities for fiscal years, and interim periods within those years, beginning after December 15, 2018. The Company expects to record approximately $5,300,000 adjustment to the opening balance of retained earnings and the corresponding charge to AOCI.

In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820) Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. This update modifies some disclosure requirements related to fair value measurements used for different levels of instruments in fair value hierarchy (Level 1, Level 2 and Level 3). The amendments in the update are effective for fiscal years, and interim periods within fiscal years, beginning after December 15, 2019. The adoption of this update is not expected have an effect on the Company’s financial position, results of operations and cash flows but may impact the disclosures made for fair value measurements used by the Company.

In August 2018, the FASB issued ASU No. 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20). This update removes some disclosures that are no longer considered cost beneficial and adds some disclosures about defined benefit plans that have been identified as relevant. The amendments in this update are effective for fiscal years ending after December 15, 2020. The adoption of this update is not expected to have an effect on the Company’s financial position, results of operations and cash flows but will impact the disclosures made for the Company’s defined benefit retirement plans.

In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use software (Subtopic 350-40) Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. This update aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This update requires the entity to determine which implementation costs to capitalize as an asset related to the service contact and which costs to expense over the term of the hosting contract. The amendments in this update are effective for fiscal years beginning after December 15, 2019. The Company is assessing the impact that adoption of ASU No. 2018-15 will have on its financial position, results of operations and cash flows.

Fair Value Measurements

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

2. Fair Value Measurements

The following were the financial instruments held by the Company at December 31, 2018 and 2017, and the methods and assumptions used to estimate the instruments’ fair values:

Cash and cash equivalents

Carrying value approximated fair value because of the short maturity of the instruments.

Derivative assets and liabilities

Derivative assets and liabilities include the foreign currency exchange contracts discussed in Note 3. Fair value and carrying value were the same because the contracts were recorded at fair value. The fair values of the foreign currency contracts were calculated as the difference between the applicable forward foreign exchange rates at the reporting date and the contracted foreign exchange rates multiplied by the contracted notional amounts. See the table that follows the financial instrument descriptions for the reported fair values of derivative assets and liabilities.

Long-term investments

Long-term investments included the mutual fund assets the Company held to fund a portion of its deferred compensation liabilities and all of its non-qualified supplemental executive defined contribution obligations (see the defined contribution plans section of Note 13). Fair value and carrying value were the same because the mutual fund assets were recorded at fair value in accordance with the FASB’s fair value option guidance. Fair values for the mutual funds were calculated using the published market price per unit at the reporting date multiplied by the number of units held at the reporting date. See the table that follows the financial instrument descriptions for the reported fair value of long-term investments.

Debt obligations

The fair value of debt with original maturities greater than one year comprised the combined present values of scheduled principal and interest payments for each of the various loans, individually discounted at rates equivalent to those which could be obtained by the Company for new debt issues with durations equal to the average life to maturity of each loan. The fair values of the remaining Company debt obligations approximated their carrying values due to the short-term nature of the debt. The Company’s fair value measurements for debt fall in level 2 of the fair value hierarchy.

At December 31, 2018 and 2017, the fair values and related carrying values of debt, including current maturities, were as follows (the fair value and carrying value amounts are presented without regard to unamortized debt issuance costs of $978,000, and $987,000 as of December 31, 2018 and 2017, respectively):

(In thousands)	December 31
	2018		2017
Fair value	$	274,119	$	293,272

Carrying value		277,058		291,786

The following tables present financial assets and liabilities measured on a recurring basis at fair value as of December 31, 2018 and 2017, and the level within the fair value hierarchy in which the fair value measurement falls:

(In thousands)	December 2018		Level 1		Level 2		Level 3
Mutual fund assets	$	25,082	$	25,082	$	—	$	—
Derivative assets:
Foreign currency contracts		185		—		185		—
Total assets at fair value	$	25,267	$	25,082	$	185	$	—

Derivative liabilities:
Foreign currency contracts	$	10	$	—	$	10	$	—
Total liabilities at fair value	$	10	$	—	$	10	$	—

(In thousands)	December 2017		Level 1		Level 2		Level 3
Mutual fund assets	$	28,270	$	28,270	$	—	$	—
Derivative assets:
Foreign currency contracts		335		—		335		—
Total assets at fair value	$	28,605	$	28,270	$	335	$	—

Derivative liabilities:
Foreign currency contracts	$	94	$	—	$	94	$	—
Total liabilities at fair value	$	94	$	—	$	94	$	—

Derivative Instruments And Hedging Activities Disclosure [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Instruments

12 Months Ended

Dec. 31, 2018

Derivative Instruments

3. Derivative Instruments

The Company is exposed to certain risks relating to its ongoing business operations. The primary risk managed by the use of derivative instruments is foreign currency exchange risk. The Company holds forward foreign currency exchange contracts that are not designated as any type of accounting hedge as defined by U.S. generally accepted accounting principles. The Company uses these contracts to manage its exposure to exchange rate fluctuations on certain Company subsidiary cash, accounts receivable, accounts payable and other obligation balances that are denominated in currencies other than the entities’ functional currencies. The forward foreign exchange contracts are recognized on the balance sheet as either an asset or a liability measured at fair value. Gains and losses arising from recording the foreign exchange contracts at fair value are reported in earnings as offsets to the losses and gains reported in earnings arising from the re-measurement of the receivable and payable balances into the applicable functional currencies. At December 31, 2018 and 2017, the Company had open forward foreign currency exchange contracts, all with durations of one to three months, to buy or sell foreign currencies with a U.S. dollar equivalent of $28,870,081 and $41,196,629 , respectively.

The fair values of the derivative instruments held by the Company on December 31, 2018, and December 31, 2017, are disclosed in Note 2. Derivative instrument gains and losses for the years ended December 31, 2018, 2017 and 2016, were immaterial. For amounts reclassified out of AOCI into earnings for the years ended December 31, 2018, 2017 and 2016, see Note 19.

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

4. Goodwill and Other Intangible Assets

The changes in the carrying value of goodwill for the years ended December 31, 2018 and 2017, were as follows:

(In thousands)	Surfactants Segment						Polymer Segment					Specialty Products Segment				Total
	2018			2017			2018			2017		2018		2017		2018			2017
Balance as of January 1
Goodwill	$	22,627		$	22,958		$	5,475		$	5,334	$	483	$	483	$	28,585		$	28,775
Accumulated impairment loss		(3,467	)		(3,467	)		—			—		—		—		(3,467	)		(3,467	)
Goodwill, net		19,160			19,491			5,475			5,334		483		483		25,118			25,308
Goodwill acquired		—			—			—			—		—		—		—			—
Goodwill measurement period adjustment ^(a)		—			(120	)		—			—		—		—		—			(120	)
Foreign currency translation		(2,106	)		(211	)		(58	)		141		—		—		(2,164	)		(70	)
Balance as of December 31
Goodwill		20,521			22,627			5,417			5,475		483		483		26,421			28,585
Accumulated impairment loss		(3,467	)		(3,467	)		—			—		—		—		(3,467	)		(3,467	)
Goodwill, net	$	17,054		$	19,160		$	5,417		$	5,475	$	483	$	483	$	22,954		$	25,118

(a)	See Note 20 for information regarding the goodwill acquired in a business combination.

The Company tests its goodwill balances for impairment in the second quarter of each calendar year. The 2018 and 2017 tests indicated no impairment.

The following table presents the components of other intangible assets, all of which have finite lives, as of December 31, 2018 and 2017. The year-over-year changes in gross carrying values mainly resulted from the effects of foreign currency translation.

(In thousands)	Gross Carrying Value				Accumulated Amortization
	December 31				December 31
	2018		2017		2018		2017
Other Intangible Assets:
Patents	$	6,947	$	6,947	$	4,492	$	3,893
Non-compete agreements		387	$	453		173	$	113
Trademarks		3,800		4,087		1,929		1,870
Customer lists		10,750		12,150		4,356		4,299
Supply contract		2,113		2,476		1,189		774
Know-how ^(a)		7,900		8,043		5,514		4,669
Total	$	31,897	$	34,156	$	17,653	$	15,618

(a)

Know-how includes intellectual property rights covering proprietary information, written formulae, trade secrets or secret processes, inventions and developmental products (whether patentable or not), discoveries, improvements, compositions, manufacturing processes, manuals, specifications and technical data

Aggregate amortization expense for the years ended December 31, 2018, 2017 and 2016, was $3,470,000, $3,711,000, and $2,845,000, respectively. Estimated amortization expense for identifiable intangibles assets for each of the five succeeding fiscal years is as follows:

(In thousands)
For year ended 12/31/19	$	3,428
For year ended 12/31/20		3,296
For year ended 12/31/21		1,967
For year ended 12/31/22		1,321
For year ended 12/31/23		1,321

Inventories

12 Months Ended

Dec. 31, 2018

Inventory Disclosure [Abstract]

Inventories

5. Inventories

The composition of inventories was as follows:

	December 31
(In thousands)	2018		2017
Finished products	$	141,900	$	117,529
Raw materials		58,265		55,219
Total inventories	$	200,165	$	172,748

Inventories are primarily priced using the last-in, first-out (LIFO) inventory valuation method. If the first-in, first-out (FIFO) inventory valuation method had been used for all inventories, inventory balances would have been approximately $31,363,000 and $33,518,000 higher than reported at December 31, 2018 and 2017, respectively.

Debt

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Debt

6. Debt

Debt comprised the following at December 31, 2018 and 2017:

(In thousands)	Maturity Dates	December 31, 2018		December 31, 2017
Unsecured private placement notes
3.95% (net of unamortized debt issuance cost of $360 and $346 for 2018 and 2017, respectively)	2021-2027	$	99,640	$	99,654
3.86% (net of unamortized debt issuance cost of $347 and $343 for 2018 and 2017, respectively)	2019-2025		99,653		99,657
4.86% (net of unamortized debt issuance cost of $186 and $191 for 2018 and 2017, respectively)	2018-2023		46,243		55,523
5.88% (net of unamortized debt issuance cost of $85 and $95 for 2018 and 2017, respectively)	2018-2022		22,772		28,476
5.69% (net of unamortized debt issuance cost of $0 and $12 for 2018 and 2017, respectively)	2018		—		5,703
Debt of foreign subsidiaries
Unsecured bank debt, foreign currency	2019		7,772		1,786
Total debt		$	276,080	$	290,799
Less current maturities			37,058		22,500
Long-term debt		$	239,022	$	268,299

The majority of the Company’s long-term debt financing is composed of unsecured private placement notes issued to insurance companies, totaling $269,286,000 as of December 31, 2018. These notes are denominated in U.S. dollars and have fixed interest rates ranging from 3.86 percent to 5.88 percent. The notes had original maturities of 12 years with mandatory amortization of principal beginning six years after issuance. The Company will be required to make amortization payments on the currently outstanding notes from 2019 to 2027.

On January 30, 2018, the Company entered into a five year committed $350,000,000 multi-currency revolving credit facility that matures on January 30, 2023 with a syndicate of banks. This credit facility replaced the Company’s prior $125,000,000 credit agreement. The Company’s outstanding Note Purchase Agreements were amended effective January 30, 2018 to make certain covenants consistent with those included in the revolving credit agreement. The Company maintains standby letters of credit under its workers’ compensation insurance agreements and for other purposes, as needed from time to time, which are issued under the revolving credit agreement. On December 31, 2018, the Company had outstanding letters of credit of $4,725,000 and no borrowings under the revolving credit agreement with $345,275,000 remaining available.

Loans under the credit agreement may be incurred, at the discretion of the Company, with terms to maturity of one to six months. The Company may choose from two interest rate options: (1) LIBOR applicable to each currency plus spreads ranging from 1.25 percent to 1.875 percent, depending on the Company’s net leverage ratio, or (2) the prime rate plus 0.25 percent to 0.875 percent, depending on the Company’s net leverage ratio. The credit agreement requires the Company to pay a commitment fee ranging from 0.15 percent to 0.325 percent per annum, which also depends on the Company’s net leverage ratio. The credit agreement requires the maintenance of certain financial ratios and compliance with certain other covenants that are similar to the Company’s existing debt agreements, including net worth, interest coverage and leverage financial covenants and limitations on restricted payments, indebtedness and liens.

In addition to the unsecured private placement notes and the revolving credit facility, the Company’s foreign subsidiaries had $7,772,000 of unsecured debt at December 31, 2018.

The Company’s loan agreements in the U.S. and Philippines contain provisions, which, among others, require maintenance of certain financial ratios and place limitations on additional debt, investments and payment of dividends. Based on the loan agreement provisions that place limitations on dividend payments, unrestricted retained earnings (i.e., retained earnings available for dividend distribution) were $190,442,000 and $190,495,000 at December 31, 2018, and 2017, respectively.

Debt at December 31, 2018, matures as follows: $37,058,000 in 2019; $29,286,000 in 2020; $43,572,000 in 2021; $43,573,000 in 2022; $37,857,000 in 2023 and $85,712,000 after 2023. Debt maturing in 2019 includes $29,286,000 of scheduled repayments under long-term debt agreements and $7,772,000 of debt of foreign subsidiaries under short-term working capital loans. These short-term loan agreements are routinely renewed, but could be supplemented or replaced, if necessary, by the Company’s $350,000,000 revolving credit agreement entered into on January 30, 2018.

Net interest expense for the years ended December 31, 2018, 2017 and 2016, comprised the following:

(In thousands)	2018		2017			2016
Interest expense	$	13,360	$	14,428		$	15,240
Interest income		(1,829)		(2,075	)		(1,247	)
		11,531		12,353			13,993
Capitalized interest		(760)		(909	)		(788	)
Interest expense, net	$	10,771	$	11,444		$	13,205

Leased Properties

12 Months Ended

Dec. 31, 2018

Leases [Abstract]

Leased Properties

7. Leased Properties

The Company leases certain property and equipment (primarily transportation equipment, buildings and land) under operating leases, which are denominated in local currencies. Total rental expense was $10,455,000, $10,807,000, and $8,595,000 in 2018, 2017 and 2016, respectively.

Consolidated Company minimum future rental payments under operating leases with initial or remaining noncancelable lease terms in excess of one year as of December 31, 2018, are:

(In thousands)
Year
2019	$	9,740
2020		8,294
2021		6,027
2022		5,242
2023		4,101
Subsequent to 2023		16,593
Total minimum future rental payments	$	49,997

Other, Net

12 Months Ended

Dec. 31, 2018

Other Income And Expenses [Abstract]

Other, Net

8. Other, Net

Other, net in the consolidated statements of income included the following for the years ended December 31, 2018, 2017 and 2016:

(In thousands)	2018			2017			2016
Foreign exchange gains (losses)	$	1,902		$	(646	)	$	(14	)
Investment income		1,554			989			690
Realized and unrealized gains(losses) on investments		(2,966	)		4,178			152
Net periodic benefit cost		(1,215	)		(1,035	)		(1,637	)
Other, net	$	(725	)	$	3,486		$	(809	)

Based on requirements of ASU No. 2017-07, Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, the Company reclassified Net periodic benefit cost outside of income from operations for the prior year periods to conform with the 2018 presentation. See Note 13 for more details for the components of Net periodic benefit cost.

Income Taxes

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

9. Income Taxes

The provisions for taxes on income and the related income before taxes for the years ended December 31, 2018, 2017 and 2016, were as follows:

(In thousands)	2018			2017			2016
Taxes on Income
Federal
Current	$	(296	)	$	32,299		$	18,811
Deferred		9,314			(1,744	)		(3,192	)
State
Current		2,095			1,764			2,273
Deferred		1,892			192			(1,171	)
Foreign
Current		14,510			13,077			14,960
Deferred		(342	)		2,102			(4,063	)
Total	$	27,173		$	47,690		$	27,618
Income before Taxes
Domestic	$	88,522		$	72,662		$	64,675
Foreign		51,401			66,575			49,141
Total	$	139,923		$	139,237		$	113,816

The variations between the effective and statutory U.S. federal income tax rates are summarized as follows:

(In thousands)	2018 Amount			%			2017 Amount			%			2016 Amount			%
Federal income tax provision at statutory tax rate	$	29,384			21.0		$	48,733			35.0		$	39,836			35.0
State income tax provision, less applicable federal tax benefit		3,150			2.3			1,271			0.9			716			0.6
Foreign income taxed at different rates		864			0.6			(8,075	)		(5.8	)		(6,325	)		(5.6	)
U.S. taxation of foreign earnings^(a)		2,348			1.7			(1,054	)		(0.8	)		14			—
Unrecognized tax benefits		(460	)		(0.3	)		(47	)		—			23			—
Domestic production activities deduction		—			—			(1,339	)		(1.0	)		(1,633	)		(1.4	)
Nontaxable foreign interest income		(1,179	)		(0.8	)		(2,073	)		(1.5	)		(2,030	)		(1.8	)
U.S. tax reform, net impact^(b)		(375	)		(0.3	)		14,807			10.7			—			—
Change in accounting methods^(c)		(3,383	)		(2.4	)		(893	)		(0.6	)		—			—
Stock based compensation, excess tax benefits^(d)		(1,648	)		(1.2	)		(2,254	)		(1.6	)		(1,878	)		(1.7	)
U.S. tax credits		(1,324	)		(0.9	)		(1,204	)		(0.9	)		(1,100	)		(1.0	)
Non-deductible expenses and other items, net^(e)		(204	)		(0.3	)		(182	)		(0.1	)		(5	)		0.2
Total income tax provision	$	27,173			19.4		$	47,690			34.3		$	27,618			24.3

(a)	Includes cost of global intangible low-taxed income (GILTI) in 2018 and withholding taxes paid on cash repatriated from foreign countries.

(b)	Does not include state tax impacts, which are included in state income tax provision, less applicable federal tax benefit.

(c)	For 2018, amount represents the federal tax rate change due to certain accounting methods that were adopted on the 2017 federal income tax return. For 2017, amount represents an accounting method change for depreciation.

(d)	Excess tax benefits related to employee share-based payment transactions recognized in 2018, 2017 and 2016 resulting from the adoption of ASU No. 2016-9.

(e)	Certain 2016 amounts have been reclassified to conform to the 2017 and 2018 presentation.

On December 22, 2017, the U.S. government enacted the Tax Act, which was comprehensive tax legislation. The Tax Act made broad and complex changes to the U.S. tax code that affect the Company’s income tax provision for 2018 including, but not limited to: (1) a reduction of the U.S. federal corporate income tax rate; (2) a general elimination of U.S. federal income taxes on dividends from foreign subsidiaries; (3) a new provision designed to tax global intangible low-taxed income, which allows for the possibility of using foreign tax credits (FTCs) and a deduction of up to 50 percent to offset the income tax liability (subject to some limitations); (4) the creation of the base erosion anti-abuse tax (BEAT), a new minimum tax; (5) limitations on the use of FTCs to reduce the U.S. income tax liability; (6) limitations on net operating losses (NOLs) generated after December 31, 2017, to 80 percent of taxable income; (7) a new limitation on deductible interest expense; (8) the elimination of the corporate alternative minimum tax; (9) the repeal of the domestic production activity deduction; and (10) limitations on the deductibility of certain executive compensation.

The Tax Act established new tax laws that affected the Company’s income tax provision for 2017, including, but not limited to: (1) a one-time transition tax (Transition Tax) on certain unrepatriated earnings of foreign subsidiaries that is payable over eight years and (2) bonus depreciation that will allow for full expensing of qualified property.

The Securities and Exchange Commission staff issued SAB 118, which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 allows a company to record a provisional amount when it does not have the necessary information available, prepared, or analyzed in reasonable detail to complete its accounting for the change in the tax law. The measurement period ends when a company has obtained, prepared and analyzed the information necessary to finalize its accounting, but cannot extend beyond one year.

During 2018, we examined the Tax Act changes discussed above and completed our analysis. As such, we were able to make reasonable estimates of the effects of the changes and consider our accounting for the income tax effects of certain elements of the Tax Act complete in all material respects as discussed immediately below.

Deemed Repatriation Transition Tax: The Transition Tax is a tax on previously untaxed accumulated and current earnings and profits of our foreign subsidiaries. We were able to reasonably estimate the Transition Tax and recorded a provisional Transition Tax obligation of $19.4 million, with a corresponding adjustment of $19.4 million to income tax expense for the year ended December 31, 2017. On the basis of revised earnings and profits computations that were completed, we recognized a favorable measurement-period adjustment of $0.4 million to the Transition Tax obligation, with a corresponding favorable adjustment of $0.4 million to income tax expense during 2018. The effect of the measurement-period adjustment on the 2018 effective tax rate was a reduction of approximately 0.3 percent. The Transition Tax, the accounting for which has now been determined to be materially complete, resulted in recording a total Transition Tax obligation of $19.0 million, with a corresponding adjustment of $19.0 million to income tax expense. We expect another minor measurement-period Transition Tax adjustment to occur in 2019 upon finalization of the earnings and profits for some of our non-calendar-year-end foreign subsidiaries. These foreign subsidiaries are non-calendar-year-end entities for U.S. federal income tax purposes only.

Permanent Reinvestment: Pursuant to the Tax Act, the Company’s foreign earnings have been subject to U.S. federal taxes. The Company now has the ability to repatriate to the U.S. parent the cash associated with these foreign earnings with little additional U.S. federal taxes. This cash may, however, be subject to foreign income and/or local country taxes if repatriated to the United States. In addition, repatriation of some foreign cash balances may be further restricted by local laws. During the year, the Company completed analyzing its foreign capital structure and determined the amount of cash at its foreign subsidiaries that can be repatriated to the United States with minimal additional taxes. In our analysis, the Company considered the future operating and liquidity needs of the Company and its foreign subsidiaries, while also considering the Company’s past assertion of indefinite reinvestment in its foreign earnings. Based on this analysis, the Company repatriated approximately $100.0 million to the U.S. parent and recorded $1.8 million of additional income tax expense in 2018 as a result of the repatriation. The effect of the adjustment on the 2018 effective tax rate was an increase of approximately 1.3 percent. With regard to the cash remaining at the Company’s foreign subsidiaries after the repatriation, the Company maintains its assertion of indefinite reinvestment in its foreign earnings.

Reduction of U.S. federal corporate tax rate: The Tax Act reduced the corporate tax rate to 21 percent, effective January 1, 2018. We were able to reasonably estimate the impact to our deferred tax assets and liabilities and recorded a provisional net favorable adjustment of $4.5 million for the year ended December 31, 2017. On the basis of revised temporary differences that were completed during 2018 due to tax accounting method changes and other accelerated deductions, we recognized a favorable measurement-period adjustment of $5.2 million. The effect of the measurement-period adjustment on the 2018 effective tax rate was a reduction of approximately 3.7 percent. The reduction of the U.S. federal corporate tax rate, which has now been determined to be complete, resulted in recording a total deferred income tax benefit of $9.7 million as a result of revaluing the Company’s deferred tax assets and liabilities.

Cost recovery: The Company is able to claim bonus depreciation to accelerate the expensing of the cost of certain qualified property acquired and placed in service after September 27, 2017 and before January 1, 2024. For the first five-year period (through 2022), the Company can deduct 100 percent of the cost of qualified property. Starting in 2023, the additional bonus depreciation is gradually phased out by 20 percent each year through 2027.

We have completed the computations necessary and completed an inventory of our 2018 expenditures for property that was placed in service in 2018 and that qualifies for immediate expensing. We reasonably estimate said expenditures to be approximately $11.5 million. As these expenditures are temporary in nature, there was no impact to the effective tax rate. We also completed the computations necessary and completed an inventory of our 2017 expenditures for property that was placed into service from September 28, 2017 through December 31, 2017 and that qualified for immediate expensing. We concluded the impact of the true-up adjustment from this analysis, which has now been determined to be complete, was immaterial.

Valuation allowances: The Company must assess whether valuation allowances assessments are affected by various aspects of the Tax Act (e.g., GILTI inclusions and new categories of foreign tax credits). The Tax Act did not result in any additional valuation allowances for the Company.

GILTI: The Tax Act requires the Company to include certain income (GILTI) of its foreign subsidiaries in gross income. The amount of this inclusion is determined under complex rules, and depends, in part, on the character of income earned by the foreign subsidiaries, the tax bases of those subsidiaries’ assets and the amount of certain interest expenses.

Under GAAP, we are allowed to make an accounting policy choice of either (1) treating taxes due on future income inclusions related to GILTI as a current-period expense when incurred (the period cost method) or (2) accounting for such amounts in measuring deferred taxes (the deferred method). Our selection of an accounting policy with respect to the new GILTI tax rules depended, in part, on analyzing our global income to determine whether we expect to have future income inclusions related to GILTI and, if so, what the impact is expected to be. These determinations depended not only on our current structure and estimated future results of global operations but also our intent and ability to modify our structure and/or our business. We determined to treat taxes due on future income inclusions related to GILTI as a current-period expense, option (1) above. The current-period expense for 2018 was $0.6 million which increased the 2018 effective tax rate by approximately 0.4 percent. We did not make any adjustments related to any potential deferred tax liabilities related to GILTI in our financial statements and have not recorded deferred tax liabilities related to GILTI.

Deductibility of Executive Compensation: The Tax Act amended certain aspects of Section 162(m) of the Internal Revenue Code (Section 162(m)), which generally disallows a tax deduction for annual compensation paid to “covered employees” in excess of $1 million, including eliminating an exception to the deduction limit for “qualified performance-based compensation,” effective for tax years beginning after December 31, 2017.

The Tax Act provides for a grandfather provision, pursuant to which remuneration that is provided pursuant to a written binding contract in effect on November 2, 2017, and which has not been modified in any material respect on or after that date, will not be subject to the amendments made to Section 162(m) by the Tax Act and will remain eligible for deduction as qualified performance-based compensation. We completed our evaluation of our existing compensation arrangements to determine whether any amounts payable to our Section 162(m) covered employees qualified under the grandfather provision. We determined that certain of these arrangements constitute qualified performance-based compensation under Section 162(m) and qualify under the grandfather provision. As a result, for compensation not yet paid or incurred related to services performed before January 1, 2018, to the extent available, we continued to treat this compensation as “qualified performance-based compensation” that is grandfathered under the Tax Act, which is deductible compensation. For services rendered after January 1, 2018, we recognized an unfavorable adjustment of $0.5 million in 2018. The effect of the adjustment on the 2018 effective tax rate was an increase of approximately 0.3 percent.

Other Miscellaneous Tax Amendments of the Tax Act: The Tax Act’s other amendments including the creation of BEAT, a new minimum tax; limitations on the use of foreign tax credits (FTCs) to reduce the U.S. income tax liability; limitations on NOLs generated after December 31, 2017, to 80 percent of taxable income; and a new limitation on deductible interest expense were determined by the Company to be either not applicable or immaterial for 2018. Such tax amendments, however, may be subject to adjustment in subsequent periods in accordance with future interpretive guidance issued by the Internal Revenue Service (IRS), or may become material in prospective tax years. We continue to work with our tax advisors to determine such future impacts.

At December 31, 2018 and 2017, the tax effects of significant temporary differences representing deferred tax assets and liabilities were as follows:

(In thousands)	2018			2017
Deferred Tax Liabilities:
Depreciation	$	(57,665	)	$	(51,244	)
Unrealized foreign exchange loss		(980	)		(734	)
Amortization of intangibles		(1,016	)		(1,420	)
Inventories		(725	)		—
Other		(301	)		(646	)
	$	(60,687	)	$	(54,044	)
Deferred Tax Assets:
Pensions	$	7,971		$	7,884
Deferred revenue		208			232
Other accruals and reserves		13,123			13,660
Inventories		—			1,182
Legal and environmental accruals		7,143			7,243
Deferred compensation		14,214			15,402
Bad debt and rebate reserves		2,916			2,865
Non-U.S. subsidiaries net operating loss carryforwards		3,869			2,657
Tax credit carryforwards		2,141			1,851
	$	51,585		$	52,976
Valuation Allowance	$	(3,701	)	$	(2,255	)
Net Deferred Tax Liabilities	$	(12,803	)	$	(3,323	)
Reconciliation to Consolidated Balance Sheet:
Non-current deferred tax assets (in other non-current assets)		5,869			7,639
Non-current deferred tax liabilities		(18,672	)		(10,962	)
Net Deferred Tax (Liabilities) Assets	$	(12,803	)	$	(3,323	)

Earnings generated by a foreign subsidiary are presumed to ultimately be transferred to the parent company. Therefore, the establishment of deferred taxes may be required with respect to the excess of the investment value for financial reporting over the tax basis of investments in those foreign subsidiaries (also referred to as book-over-tax outside basis differences). A company may overcome this presumption and forgo recording a deferred tax liability in its financial statements if it can assert that management has the intent and ability to indefinitely reinvest the earnings of its foreign subsidiaries. Prior to the year ended December 31, 2017, the Company has not provided deferred U.S., foreign or local income taxes on the book-over-tax outside basis differences of its foreign subsidiaries because such excess has been considered to be indefinitely reinvested in the local country businesses. As discussed above, the Company recorded $19.0 million in income tax expense, representing U.S. federal and state taxes incurred pursuant to the deemed repatriation of its foreign subsidiary earnings under the Tax Act in its consolidated statement of operations for the year ended December 31, 2017 and adjusted for the year ended December 31, 2018. In 2018, the Company repatriated approximately $100.0 million to the U.S. parent, and recorded $1.8 million of additional income tax expense in 2018 as a result of the repatriation. The effect of the adjustment on the 2018 effective tax rate was an increase of approximately 1.3 percent. With regard to the cash remaining at the Company’s foreign subsidiaries after the repatriation, the Company maintains its assertion of indefinite reinvestment in its foreign earnings. At this time, the determination of deferred tax liabilities on this amount is not practicable.

The Company has non-U.S. tax loss carryforwards of $14,901,000 (pretax) as of December 31, 2018, and $10,352,000 as of December 31, 2017, that are available for use by the Company between 2019 and 2038. The Company has tax credit carryforwards of $2,141,000 as of December 31, 2018, and $1,851,000 as of December 31, 2017 that are available for use by the Company between 2019 and 2028.

At December 31, 2018, the Company had valuation allowances of $3,701,000, which were attributable to deferred tax assets in Canada, China, India, the Philippines and Singapore. The realization of deferred tax assets is dependent on the generation of sufficient taxable income in the appropriate tax jurisdictions. The Company believes that it is more likely than not that the related deferred tax assets will not be realized.

As of December 31, 2018 and 2017, unrecognized tax benefits totaled $168,000 and $1,927,000, respectively. The amount of unrecognized tax benefits that, if recognized, would favorably affect the Company’s effective income tax rate in any future periods, net of the federal benefit on state issues, was approximately $162,000, $1,917,000 and $1,921,000 at December 31, 2018, 2017 and 2016, respectively. The Company does not believe that the amount of unrecognized tax benefits related to its current uncertain tax positions will change significantly over the next 12 months.

The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. In 2018, the Company recognized net interest and penalty income of $26,000 compared to $3,000 of net interest and penalty expense in 2017 and $9,000 of net interest and penalty expense in 2016. At December 31, 2018 the liability for interest and penalties was $30,000 compared to $56,000 at December 31, 2017.

The Company files income tax returns in the U.S. federal jurisdiction and various states and foreign jurisdictions. The Company is not subject to U.S. federal income tax examinations by tax authorities for years before 2015. Some foreign jurisdictions and various U.S. states jurisdictions may be subject to examination back to 2012.

During 2016, the Internal Revenue Service started its audit of the 2011 and 2012 tax years. As of December 31, 2018, these audits were effectively settled. As such, the Company reversed an unrecognized tax benefit of $1.5 million that was offset with a corresponding reversal of $1.3 million related to an income tax refund receivable for which the Company is no longer entitled to receive.

Below are reconciliations of the January 1 and December 31 balances of unrecognized tax benefits for 2018, 2017 and 2016:

(In thousands)	2018			2017			2016
Unrecognized tax benefits, opening balance	$	1,927		$	1,931		$	1,958
Gross increases – tax positions in prior period		29			—			—
Gross increases – current period tax positions		26			20			35
Foreign currency translation		1			69			(43	)
Settlement		(1,526	)		—			—
Lapse of statute of limitations		(289	)		(93	)		(19	)
Unrecognized tax benefits, ending balance	$	168		$	1,927		$	1,931

Stockholders' Equity

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Stockholders' Equity

10. Stockholders’ Equity

At December 31, 2018 and 2017, treasury stock consisted of 3,803,043 shares and 3,561,509 shares of common stock, respectively. During 2018, 165,679 shares of Company common stock were purchased in the open market and 40,304 shares of Company common stock were purchased from Company Retirement Plans. In addition, 43,961 shares were received to settle employees’ minimum statutory withholding taxes related to performance stock awards, exercised SARs and deferred compensation distributions. Also, 8,410 shares of treasury stock were distributed to participants under the Company’s deferred compensation plan.

Stock-based Compensation

12 Months Ended

Dec. 31, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-based Compensation

11. Stock-based Compensation

On December 31, 2018, the Company had stock options and stock awards outstanding under its 2006 Incentive Compensation Plan (2006 Plan) and stock options, stock awards and SARs under its 2011 Incentive Compensation Plan (2011 Plan). Stock options, stock awards and SARs are currently granted to Company executives and other key employees. No further options or awards may be granted under the 2006 Plan. The 2011 Plan authorized the award of 2,600,000 shares of the Company’s common stock for stock options, SARs and stock awards. At December 31, 2018, there were 665,374 shares available for grant under the 2011 Plan.

Compensation expense recorded in the consolidated statements of income for all plans was $6,837,000, $7,151,000, and $12,618,000 for the years ended December 31, 2018, 2017 and 2016, respectively. The decrease in stock-based compensation in 2018 versus 2017 was primarily due to the decrease in compensation related to cash-settled SARs. Due to a $4.97 decrease in the market value of Company common stock from $78.97 at December 31, 2017 to $74.00 at December 31, 2018, the fair value of SARs decreased, resulting in a decrease of the Company’s SARs liability. In 2017, the market value of Company common stock decreased $2.51 from $81.48 in 2016 to $78.97 in 2017, resulting in a decrease of the Company’s SARs liability.

The total income tax benefit recognized in the income statement for share-based compensation arrangements was $1,849,000, $2,980,124, and $4,761,000 for the years ended December 31, 2018, 2017 and 2016, respectively.

Stock Options

Under all plans, stock option awards are granted with an exercise price equal to the market price of the Company’s stock at the date of grant. The market price is defined and calculated as the average of the opening and closing prices for Company common stock on the grant date as reported in the New York Stock Exchange – Composite Transactions. Stock option awards granted prior to 2017 cliff vest after two years. Stock options granted in 2017 and 2018 have a three-year graded vesting feature, with one-third of the awards vesting each year. The Company has elected the straight-line method of expense attribution for the stock options with graded vesting feature. These options have 8- to 10-year contractual terms. The fair value of each option award was estimated on the date of grant using the Black-Scholes option valuation model incorporating the weighted-average assumptions noted in the following table. Expected volatility is based on the historical volatility of the Company’s stock. The Company also uses historical data to estimate the expected term of options granted. The risk-free rate is the U.S. Treasury note rate that corresponds to the expected option term at the date of grant. The following are the weighted-average assumptions used to calculate the grant-date fair values of stock option awards granted in the years ended December 31, 2018, 2017 and 2016:

	For the Years Ended December 31
	2018	2017	2016
Expected dividend yield	1.34%	1.39%	1.45%
Expected volatility	27.41%	30.01%	35.62%
Expected term	7.3 years	7.2 years	7.3 years
Risk-free interest rate	2.88%	2.22%	1.52%

A summary of stock option activity for the year ended December 31, 2018 is presented below:

	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value ($000)
Options
Outstanding at January 1, 2018		391,805		$	52.09
Granted		77,038			73.08
Exercised		(97,471	)		42.71
Forfeited		(9,829	)		61.79
Outstanding at December 31, 2018		361,543			58.83		6.73	$	5,485
Vested or expected to vest at December 31, 2018		352,436			58.38		6.68		5,506
Exercisable at December 31, 2018		268,545			53.17		6.05		5,592

The weighted-average grant-date fair values of options awarded during the years ended December 31, 2018, 2017 and 2016, were $22.13, $24.49, and $14.70, respectively. The total intrinsic values of options exercised during the years ended December 31, 2018, 2017, and 2016 were $3,879,000, $5,232,000, and $6,620,000, respectively.

As of December 31, 2018, the total unrecognized compensation cost for unvested stock options was $1,655,000. That cost is expected to be recognized over a weighted-average period of 1.7 years.

Cash received from stock option exercises under the Company’s stock option plans for the years ended December 31, 2018, 2017, and 2016 was $4,163,000, $3,370,000, and $4,017,000, respectively. The actual tax benefit realized for the tax deductions from stock option exercises totaled $548,000, $1,455,000, and $1,899,000 for the years ended December 31, 2018, 2017 and 2016, respectively.

Stock Awards

In 2016, 2017, and 2018, the Company granted stock awards under the 2011 Plan. Most Company stock awards are granted in the form of performance awards. The performance stock awards vest only upon the Company’s achievement of certain Board of Directors approved levels of financial performance by the end of specified measurement periods. The number of Company shares of common stock ultimately distributed, if any, is contingent upon the Company’s actual financial performance attained by the end of the measurement period relative to the Board of Directors approved targets. The fair value of performance stock awards equals the grant-date market price of the Company’s common stock, discounted for the estimated amount of dividends that would not be received during the measurement period. Compensation expense is recorded each reporting period based on the probable number of awards that will ultimately vest given the projected level of financial performance. If at the end of the measurement period the performance objectives are not met, no compensation cost is recognized and any compensation expense recorded in prior periods is reversed. Periodically, the Company also grants stock awards that have no performance conditions associated with their vesting. These stock awards vest based on the service time established for the given grant.

A summary of stock award activity for the year ended December 31, 2018, is presented below:

	Shares			Weighted-Average Grant Date Fair Value
Stock Awards
Unvested at January 1, 2018		169,033		$	49.48
Granted		54,055			72.06
Vested		(119,501	)		41.88
Forfeited		(18,217	)		53.05
Unvested at December 31, 2018		85,370			73.65

The weighted-average grant-date fair values of stock awards granted during the years ended December 31, 2018, 2017 and 2016, were $72.06, $75.94, and $41.81, respectively. As of December 31, 2018, under the current Company assumption as to the number of stock award shares that will vest at the measurement periods ended December 31, 2019 and 2020, there was $3,180,000 of unrecognized compensation cost for unvested stock awards. That cost is expected to be recognized over a period of 1.7 years.

SARs

At December 31, 2018, the Company had both cash-settled and Company stock-settled SARs outstanding. SARs granted prior to 2015 are cash-settled, and SARs granted after 2014 are stock-settled. SARs granted prior to 2017 cliff vest after two years. SARs granted in 2017 and 2018 have a three-year graded vesting feature, with one-third of the awards vesting each year. The Company has elected the straight-line method of expense attribution for the SARs with graded vesting feature. All SARs expire ten years from the grant date. Upon the exercise of a SARs award, a participant receives in cash (for cash-settled SARs) or Company common stock (for stock-settled SARs) an amount that equals the excess of the fair market value of a share of Company common stock at the date of exercise over the fair market value of a share of Company common stock at the date of grant (the exercise price). Cash-settled SARs are accounted for as liabilities that must be re-measured at fair value at the end of every reporting period until settlement. Compensation expense for each reporting period is based on the period-to-period change (or portion of the change, depending on the proportion of the vesting period that has been completed at the reporting date) in the fair value of the SARs. Compensation expense for stock-settled SARs is based on the grant-date value of the awards allocated over the proportion of the vesting period that has been completed at the reporting date. Because stock-settled SARs are considered equity instruments, they are not re-measured at fair value at the end of each reporting period.

The following is a summary of SARs activity for the year ended December 31, 2018:

	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value ($000)
SARs
Outstanding at January 1, 2018		616,650		$	55.23
Granted		171,131			73.11
Exercised		(117,942	)		49.68
Forfeited		(30,693	)		63.66
Outstanding at December 31, 2018		639,146			60.64		7.10	$	8,430

The weighted-average grant-date fair values of SARs granted during the years 2018, 2017 and 2016 were $22.19, $24.90, and $14.69 , respectively. The fair value for each SARs award was estimated using the Black-Scholes valuation model incorporating the same assumptions as noted for stock options.

As of December 31, 2018 and 2017, the liability for cash-settled SARs recorded on the consolidated balance sheet (non-current liabilities) was $3,647,000 and $4,760,000, respectively. At December 31, 2018, there was $3,566,000 of total unrecognized compensation cost related to all unvested SARs. That cost is to be recognized over a weighted-average period of 1.8 years.

In general, it is the Company’s policy to issue new shares of its common stock upon the exercise of stock options and stock-settled SARs or the vesting of stock awards.

Deferred Compensation

12 Months Ended

Dec. 31, 2018

Deferred Compensation

12. Deferred Compensation

The Company sponsors deferred compensation plans that allow management employees to defer receipt of their annual bonuses and outside directors to defer receipt of their fees until retirement, departure from the Company or as otherwise elected. Compensation expense and the related deferred compensation obligation are recorded when the underlying compensation is earned. Over time, the deferred obligation may increase or decrease based on the performance results of investment options chosen by the plan participants. The investment options include Company common stock and a limited selection of mutual funds. The Company maintains sufficient shares of treasury stock to cover the equivalent number of shares that result from participants elections of the Company common stock investment option. As a result, the Company periodically purchases its common shares in the open market or in private transactions. The Company purchases shares of the applicable mutual funds to fund the portion of its deferred compensation liabilities tied to such investments.

Some plan distributions may be made in cash or Company common stock at the option of the participant. Other plan distributions can only be made in Company common stock. For deferred compensation obligations that may be settled in cash or Company common stock at the option of the participant, the Company must record appreciation in the market values of the investment choices made by participants as additional compensation expense. Conversely, declines in the market values of the investment choices reduce compensation expense. Increases and decreases of compensation expense that result from fluctuations in the underlying investments are recorded as part of operating expenses in the consolidated statements of income. The additional compensation expense or income resulting from the changes in the market values and earnings of the selected investment options was $2,329,000 income in 2018 and $4,857,000 and $16,805,000 expense in 2017 and 2016, respectively. Contributing to the 2018 deferred compensation income was a $4.97 per share decrease in the value of the Company’s common stock. The obligations that must be settled only in Company common stock are treated as equity instruments; therefore, fluctuations in the market price of the underlying Company stock do not affect earnings. The Company’s deferred compensation liability was $50,451,000 and $58,915,000 at December 31, 2018 and 2017, respectively.

Postretirement Benefit Plans

12 Months Ended

Dec. 31, 2018

Compensation And Retirement Disclosure [Abstract]

Postretirement Benefit Plans

13. Postretirement Benefit Plans

Defined Benefit Plans

The Company sponsors various funded qualified and unfunded non-qualified defined benefit pension plans, the most significant of which cover employees in the U.S. and U.K. locations. The various U.S. defined benefit pension plans were amended during the years 2005-2008 to freeze the plans by stopping the accrual of service benefits. The U.K. defined benefit pension plan was frozen in 2006. Benefits earned through the freeze dates are available to participants when they retire, in accordance with the terms of the plans. The Company established defined contribution plans to replace the frozen defined benefit pension plans.

Obligations and Funded Status at December 31

(In thousands)	United States						United Kingdom
	2018			2017			2018			2017
Change in benefit obligation
Benefit obligation at beginning of year	$	171,358		$	162,727		$	24,048		$	22,034
Interest cost		6,194			6,651			565			592
Actuarial (gain) loss		(11,494	)		9,109			(2,129	)		(156	)
Benefits paid		(7,464	)		(7,129	)		(1,255	)		(516	)
Foreign exchange impact		—			—			(1,223	)		2,094
Benefit obligation at end of year	$	158,594		$	171,358		$	20,006		$	24,048

(In thousands)	United States						United Kingdom
	2018			2017			2018			2017
Change in plan assets
Fair value of plan assets at beginning of year	$	147,908		$	137,092		$	24,168		$	20,336
Actual return (loss) on plan assets		(11,558	)		15,533			(1,583	)		1,957
Employer contributions		5,312			2,412			494			365
Benefits paid		(7,464	)		(7,129	)		(1,254	)		(516	)
Foreign exchange impact		—			—			(1,249	)		2,026
Fair value of plan assets at end of year	$	134,198		$	147,908		$	20,576		$	24,168

Over (Under) funded status at end of year	$	(24,396	)	$	(23,450	)	$	570		$	120

The amounts recognized in the consolidated balance sheets at December 31 consisted of:

(In thousands)	United States						United Kingdom
	2018			2017			2018		2017
Non-current asset	$	—		$	—		$	570	$	120
Current liability		(302	)		(302	)		—		—
Non-current liability		(24,094	)		(23,148	)		—		—
Net amount recognized	$	(24,396	)	$	(23,450	)	$	570	$	120

The amounts recognized in accumulated other comprehensive income at December 31 consisted of:

(In thousands)	United States				United Kingdom
	2018		2017		2018		2017
Net actuarial loss	$	45,334	$	39,801	$	5,849	$	5,743

Below is information for pension plans with projected benefit obligations in excess of plan assets at December 31:

(In thousands)	United States				United Kingdom
	2018		2017		2018		2017
Projected benefit obligation	$	158,594	$	171,358	$	—	$	—
Accumulated benefit obligation		158,594		171,358		—		—
Fair value of plan assets		134,198		147,908		—		—

Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income

Net periodic benefit costs for the years ended December 31, 2018, 2017 and 2016, were as follows:

(In thousands)	United States									United Kingdom
	2018			2017			2016			2018			2017			2016
Interest cost	$	6,194		$	6,651		$	6,934		$	565		$	592		$	733
Expected return on plan assets		(9,284	)		(9,288	)		(9,012	)		(885	)		(797	)		(900	)
Amortization of net actuarial loss		3,814			3,085			3,386			219			382			77
Net periodic benefit cost	$	724		$	448		$	1,308		$	(101	)	$	177		$	(90	)

In the first quarter of 2018, the Company implemented ASU No. 2017-07, Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which amended the guidance for the presentation of the components of net periodic cost in the income statement. The guidance requires the service cost component of net periodic benefit cost to be included in employee compensation costs in the income statement and all other components elsewhere in the income statement outside of income from operations. The Company does not have a service component of the net periodic benefit cost because the U.S. and U.K. defined benefit plans are frozen. The other components of the net periodic benefit cost such as interest cost, amortization of the net actuarial loss and expected return on plan assets are included in the line item Other, net within Other Income (Expense) section of the Income statement. See Note 8 for more details.

Other changes in plan assets and benefit obligations recognized in other comprehensive income for the years ended December 31, 2018, 2017 and 2016, were as follows:

(In thousands)	United States									United Kingdom
	2018			2017			2016			2018			2017			2016
Net actuarial (gain) loss	$	9,348		$	2,864		$	(11,062	)	$	325		$	(1,318	)	$	3,756
Amortization of net actuarial loss		(3,814	)		(3,085	)		(3,386	)		(219	)		(382	)		(77	)
Total recognized in other comprehensive income	$	5,534		$	(221	)	$	(14,448	)	$	106		$	(1,700	)	$	3,679
Total recognized in net periodic benefit cost and other comprehensive income	$	6,258		$	227		$	(13,140	)	$	5		$	(1,523	)	$	3,589

The estimated amounts that will be reclassified from accumulated other comprehensive income into net periodic benefit cost in 2019 are as follows:

(In thousands)

United

States

United

Kingdom

Net actuarial loss

2,609

244

Estimated Future Benefit Payments

(In thousands)	United States		United Kingdom
2019	$	8,009	$	482
2020		8,443		487
2021		8,954		509
2022		9,438		553
2023		9,836		592
2024-2028		51,998		3,557

Assumptions

The weighted-average assumptions used to determine benefit obligations at December 31 were as follows:

	United States						United Kingdom
	2018			2017			2018			2017
Discount rate		4.30	%		3.67	%		2.80	%		2.40	%

The weighted-average assumptions used to determine net periodic benefit costs for years ended December 31 were as follows:

	United States									United Kingdom
	2018			2017			2016			2018			2017			2016
Discount rate		3.67	%		4.17	%		4.39	%		2.40	%		2.60	%		4.00	%
Expected long-term return on plan assets		6.75	%		7.00	%		7.00	%		3.71	%		3.77	%		4.59	%

In addition to the above assumptions, the Company uses a market-related value of assets approach to calculate the expected return on plan assets component of U.S. net periodic benefit cost. The market-related value equals the fair value of plan assets with five-year smoothing of asset gains or losses. Asset gains are subtracted or losses added in the following way: 80 percent of the prior year’s gain or loss; 60 percent of the second preceding year’s gain or loss; 40 percent of the third preceding year’s gain or loss; and 20 percent of the fourth preceding year’s gain or loss. Gains or losses for the year are calculated as the difference between the expected fair value of assets and the actual fair value of assets.

Investment Strategies and Policies

U.S. Plans

Plan assets are predominantly invested using a combination of active and passive investment strategies. An investment management firm hires and monitors underlying investment management firms for each asset category. Equity managers within each category cover a range of investment styles and approaches, including both active and passive, and are combined in a way that controls for capitalization, style biases, and country exposure versus benchmark indexes, while active managers focus primarily on stock selection to improve returns, fixed income managers seek to reduce the volatility of the plan’s funded status by matching the duration with the plan’s liability while seeking to improve returns through security selection, sector allocation and yield curve management. Real estate exposure is now categorized within mid cap equity.

Risk is controlled through diversification among multiple asset categories, managers, styles, and securities. The investment management firm recommends asset allocations based on the time horizon available for investment, the nature of the plan cash flows and liabilities and other factors that affect risk tolerance. The asset allocation targets are approved by the Company’s Plan Committee. Risk is further controlled both at the manager and asset category level by developing targets based on potential risk and potential investment returns.

Allowable investment categories include:

Equities: Common stocks of large, medium, and small companies, including both U.S. and non-U.S. based companies. The long-term target allocation for equities, excluding Company stock, is approximately 59 percent.

Fixed Income (Debt): Bonds or notes issued or guaranteed by the U.S. government, and to a lesser extent, by non-U.S. governments, or by their agencies or branches, mortgage-backed securities, including collateralized mortgage obligations, corporate bonds, municipal bonds and dollar-denominated debt securities issued in the U.S. by non-U.S. banks and corporations. A small percentage of the fixed income assets may be in debt securities that are below investment grade. The target allocation for fixed income is 30 percent.

Real Estate: Public real estate funds using office, apartment, industrial, retail and other property types. In prior years Real Estate investments were reflected as a separate line item within the Mutual Funds category. Effective 2017, the majority of Real Estate assets have been removed from this category and are currently being captured within the Equities assets category. This change was made by the Global Industry Classification Standard (GICS) to better reflect the equity security features of Real Estate Investment Trusts (REITs).

Commodities: In previous years, the retirement plans invested in Commodity funds that match the index using commodity-linked derivative instruments while seeking to enhance overall returns through the use of fixed income securities. The retirement plan exited commodities in 2017 because of their high correlation to long term fixed income - they no longer provided the diversification benefit to the long term asset allocation optimization.

Employer Securities: The retirement plans also hold shares of the Company’s common stock, which are purchased or sold by the trustee from time to time, as directed by the Plan Committee. At the direction of the Plan Committee, the plans sold 43,930 common shares to the Company’s ESOP trust on February 21, 2018, 23,471 shares to the Company on March 9, 2018 and 16,833 shares to the Company on August 8, 2018. In 2017, the plans sold 40,837 shares to the Company’s ESOP trust on February 21, 2017 and 18,827 shares to the Company on November 20, 2017. The target allocation for employer securities is 11 percent of plan assets.

In addition to these primary investment types, excess cash may be invested in futures in order to efficiently achieve more fully invested portfolio positions. Otherwise, a small number of investment managers make limited use of derivatives, including futures contracts, options on futures and interest rate swaps in place of direct investment in securities to efficiently achieve equivalent market positions. Derivatives are not used to leverage portfolios.

U.K. Plan

The objective of the U.K. defined benefit pension fund investment strategy is to maximize the long-term rate of return on plan assets within a medium level of risk in order to minimize the cost of providing pension benefits. To that end, the plan assets are invested in an actively managed pooled fund of funds that diversifies its holdings among equity securities, debt securities, property and cash. Essentially, the plan is to hold equity instruments to back the benefits of participants yet to retire and bonds and cash to back current pensioners. Although there are no formal target allocations for the plan assets, the fund will generally be heavily invested in equity securities. Equity securities are selected from U.K., European, U.S. and emerging market companies. Bonds include U.K. and other countries’ government notes and corporate debt of U.K and non-U.K. companies. There are no specific prohibited investments, but the current managed fund will not allocate assets to derivatives or other financial hedging instruments. Plan trustees meet regularly with the fund manager to assess the fund’s performance and to reassess investment strategy. At December 31, 2018, the pension asset allocation was 59 percent equities, 31 percent fixed income, six percent insurance contracts, three percent real estate and one percent cash.

Included in plan assets are insurance contracts purchased by the plan trustees to provide pension payments for specific retirees. In past years, at the time a plan participant retired, the plan trustee would periodically purchase insurance contracts to cover the future payments due the retiree. This practice is no longer followed. The contracts are revocable, and the related plan obligations are not considered settled. Therefore, the plan assets and obligations include the insured amounts.

Plan Assets

U.S. Plans

The Company’s asset allocations for its U.S. pension plans at December 31, 2018 and 2017, by asset category, were as follows:

	December 31, 2018
(In thousands)	Level 1		Level 2		Level 3		Total
Cash and Cash Equivalents	$	4,935	$	—	$	—	$	4,935
Equity Securities
U.S. Equities		34,751		—		—		34,751
Non-U.S. Equities		27,415		—		—		27,415
Employer Securities		22,063		—		—		22,063
Total Equities		84,229		—		—		84,229
Fixed Income Securities
U.S. Corporate Bonds		—		29,659		—		29,659
U.S. Government and Agency Bonds		6,314		3,139		—		9,453
Other Bonds		—		5,922		—		5,922
Total Fixed Income		6,314		38,720		—		45,034
Total	$	95,478	$	38,720	$	—	$	134,198

	December 31, 2017
(In thousands)	Level 1		Level 2		Level 3		Total
Cash and Cash Equivalents	$	4,903	$	—	$	—	$	4,903
Equity Securities
U.S. Equities		37,753		—		—		37,753
Non-U.S. Equities		31,581		47		—		31,628
Employer Securities		30,197		—		—		30,197
Total Equities		99,531		47		—		99,578
Fixed Income Securities
U.S. Corporate Bonds		—		28,744		—		28,744
U.S. Government and Agency Bonds		5,545		1,045		—		6,590
Other Bonds		—		8,093		—		8,093
Total Fixed Income		5,545		37,882		—		43,427
Total	$	109,979	$	37,929	$	—	$	147,908

Plan Asset Valuation Methodology

Following is a description of the valuation methodologies used for plan assets measured at fair value.

Individual equity securities, including employer securities, are valued by Standard & Poor’s Securities Evaluations as determined by quoted market prices on the New York Stock Exchange or other active markets. Both market pricing and future cash flow analysis may be used in the pricing process as follows:

Level 1 – Equities represent the largest asset category and are valued according to the exchange-quoted market prices of the underlying investments. Level 1 fixed income securities are U.S. government securities and are valued according to quoted prices from active markets.

Level 2 – Fixed income investments without equivalent trading exchanges are valued primarily through a technique known as “future cash flow approach” which is based on what bondholders can reasonably expect to receive based upon an issuer’s current financial condition. Pricing analysts prepare cash-flow forecasts and utilize one or two pricing models to arrive at an evaluated price. Evaluated bid modeling includes factors such as the interest rate on the coupon, maturity, rating, cash flow projections and other factors.

Level 3 – no investments held during 2018 or 2017 were categorized as Level 3.

U.K. Plan

The Company’s asset allocations for its U.K. pension plans at December 31, 2018 and 2017, by asset category, were as follows:

	December 31, 2018
(In thousands)	Level 1		Level 2		Level 3		Total
Cash	$	205	$	—	$	—	$	205
Equity Securities
Pooled Pension Funds		—		12,750		—		12,750
Fixed Income
Pooled Pension Funds		—		6,378		—		6,378
Real Estate
Pooled Pension Funds		—		—		—		—
Insurance Contracts		—		—		1,243		1,243
Total	$	205	$	19,128	$	1,243	$	20,576

	December 31, 2017
(In thousands)	Level 1		Level 2		Level 3		Total
Cash	$	745	$	—	$	—	$	745
Equity Securities
Pooled Pension Funds		—		14,127		—		14,127
Fixed Income
Pooled Pension Funds		—		6,952		—		6,952
Real Estate
Pooled Pension Funds		—		646		—		646
Insurance Contracts		—		—		1,698		1,698
Total	$	745	$	21,725	$	1,698	$	24,168

Units of each of the pooled funds are valued by the trustee based on quoted market prices of the underlying investments (the underlying assets are either exchange traded or have readily available markets).

Fair value changes within asset categories for which fair value measurements use significant unobservable inputs (Level 3) were as follows during 2017 and 2018:

(In thousands)	Insurance Contracts
Fair value, December 31, 2016	$	1,759
Sale proceeds (benefit payments)		(134	)
Change in unrealized gain		(84	)
Foreign exchange impact		157
Fair value, December 31, 2017	$	1,698
Sale proceeds (benefit payments)		(129	)
Change in unrealized gain		(247	)
Foreign exchange impact		(79	)
Fair value, December 31, 2018	$	1,243

Long-term Rate of Return for Plan Assets

U.S. Plans

The overall expected long-term rate of return on assets of 6.75 percent that was used to develop the 2018 pension expense is based on plan asset allocation, capital markets forecasts and expected benefits of active investment management. For fixed income, the expected return is 4.79 percent. This assumption includes the yield on the five-year zero-coupon U.S. Treasury bond as the base rate along with historical data from the U.S. Treasury yield curve. For equities, the expected return is 6.41 percent for U.S. and international equities. This return is based on a blended average of three different statistical models that each incorporates multiple factors including, for example, inflation, Gross Domestic Product and the Fed Funds Target Rate.

The overall investment return forecast reflects the target allocations and the capital markets forecasts for each asset category, plus a premium for active asset management expected over the long-term.

U.K. Plan

The overall expected long-term return on plan assets is a weighted-average of the expected long-term returns for equity securities, debt securities and other assets. The redemption yield at the measurement date on U.K. government fixed interest bonds and the yield on corporate bonds are used as proxies for the return on the debt portfolio. The returns for equities and property are estimated as a premium of 4.8 percent added to the risk-free rate. Cash is assumed to have a long-term return of 4.0 percent.

Other Defined Benefit Plans

The Company maintains funded and unfunded defined benefit plans in other foreign locations. The liabilities and expenses associated with these plans, individually and collectively, are not material to the Company’s consolidated financial statements. Discount rates for these plans are determined based on local interest rates and plan participant data.

Cash Flows

As a result of pension funding relief included in the Highway and Transportation Funding Act of 2014, the Company does not expect to make any 2019 contributions to the funded U.S. qualified defined benefit plans. The Company expects to contribute $301,000 in 2019 to the unfunded non-qualified U.S. pension plans. The Company expects to contribute $476,000 to the U.K. defined benefit plan in 2019.

Defined Contribution Plans

The Company sponsors retirement savings defined contribution retirement plans that cover eligible U.S. and U.K. employees. The Company’s U.S retirement plans include two qualified plans, one of which is a 401(k) plan and one of which is an employee stock ownership plan, and one non-qualified supplemental executive plan. Prior to 2018, the Company made profit sharing contributions into the qualified retirement plans for its U.S. employees and in 2018 made profit sharing contributions into the qualified retirement plans for U.S. employees and for certain non-U.S. employees. Profit sharing contributions were determined using a formula applied to Company earnings. Profit sharing contributions for U.S. employees, who received the majority of profit sharing contributions, were made partly in cash paid to the 401(k) plan and partly in Company common stock. Profit sharing contributions are allocated to participant accounts on the basis of participant base earnings. Effective January 1, 2018, the Company amended its U.S. 401(k) plan and its profit sharing formula, which resulted in a higher potential contribution percentage to the U.S. 401(k) plan and a lower potential profit sharing contribution percentage relative to prior years.

Defined contribution expenses for the Company’s qualified defined contribution plans were as follows:

(In thousands)	2018		2017		2016
Retirement contributions	$	7,617	$	4,998	$	4,902
Profit sharing contributions		4,182		7,002		6,230
Total	$	11,799	$	12,000	$	11,132

The Company has a rabbi trust to fund the obligations of its non-qualified supplemental executive defined contribution plans (supplemental plans). The trust comprises various mutual fund investments selected by the participants of the supplemental plans. In accordance with the accounting guidance for rabbi trust arrangements, the assets of the trust and the obligations of the supplemental plans are reported on the Company’s consolidated balance sheet. The Company elected the fair value option for the mutual fund investment assets so that offsetting changes in the mutual fund values and defined contribution plan obligations would be recorded in earnings in the same period. Therefore, the mutual funds are reported at fair value with any subsequent changes in fair value recorded in the income statement. The supplemental plan liabilities increase (i.e., supplemental plan expense is recognized) when the value of the trust assets appreciates and decrease (i.e., supplemental plan income is recognized) when the value of the trust assets declines. At December 31, 2018 and 2017, the trust asset balances were $1,444,000 and $1,587,000, respectively, and the supplemental plan liability balances were $1,519,000 and $1,661,000, respectively. The differences between the trust asset balances and the supplemental liability balances were due to estimated liabilities that were not funded until after the end of the year when the actual liabilities were determined.

In addition to the contributions described above, certain foreign locations are required by law to make profit sharing contributions to employees based on statutory formulas. For the years ended December 31, 2018, 2017 and 2016, the Company recognized $374,000, $398,000 and $290,000, respectively, of statutory profit sharing expense.

Accrued Liabilities

12 Months Ended

Dec. 31, 2018

Payables And Accruals [Abstract]

Accrued Liabilities

14. Accrued Liabilities

The composition of accrued liabilities was as follows:

	December 31
(In thousands)	2018		2017
Accrued payroll and benefits	$	53,782	$	58,877
Accrued customer rebates		24,833		16,729
Other accrued liabilities		16,955		17,170
Total accrued liabilities	$	95,570	$	92,776

Other Non-Current Liabilities

12 Months Ended

Dec. 31, 2018

Other Liabilities Disclosure [Abstract]

Other Non-Current Liabilities

15. Other Non-Current Liabilities

The composition of other non-current liabilities was as follows:

	December 31
(In thousands)	2018		2017
Deferred revenue	$	1,215	$	1,539
Environmental and legal matters		20,404		21,888
Deferred compensation liability		43,819		51,890
Pension liability		26,722		25,632
Other non-current liabilities		11,704		29,484
Total other non-current liabilities	$	103,864	$	130,433

Contingencies

12 Months Ended

Dec. 31, 2018

Commitments And Contingencies Disclosure [Abstract]

Contingencies

16. Contingencies

There are a variety of legal proceedings pending or threatened against the Company that occur in the normal course of the Company’s business, the majority of which relate to environmental matters. Some of these proceedings may result in fines, penalties, judgments or costs being assessed against the Company at some future time. The Company’s operations are subject to extensive local, state and federal regulations, including CERCLA and the Superfund amendments of 1986 (Superfund) as well as comparable regulations applicable to the Company’s foreign locations. Over the years, the Company has received requests for information related to or has been named by government authorities as a PRP at a number of sites where cleanup costs have been or may be incurred under CERCLA and similar state statutes. In addition, damages are being claimed against the Company in general liability actions for alleged personal injury or property damage in the case of some disposal and plant sites. The Company believes that it has made adequate provisions for the costs it is likely to incur with respect to these sites.

As of December 31, 2018, the Company estimated a range of possible environmental and legal losses of $23.4 million to $44.7 million. The Company’s accrued liability for such losses was $23.4 million at December 31, 2018, compared to $24.2 million at December 31, 2017. During 2018, cash outlays related to legal and environmental matters approximated $1.6 million compared to $2.0 million in 2017.

For certain sites, the Company has responded to information requests made by federal, state or local government agencies but has received no response confirming or denying the Company’s stated positions. As such, estimates of the total costs, or range of possible costs, of remediation, if any, or the Company’s share of such costs, if any, cannot be determined with respect to these sites. Consequently, the Company is unable to predict the effect thereof on the Company’s financial position, cash flows and results of operations. Based upon the Company’s present knowledge with respect to its involvement at these sites, the possibility of other viable entities’ responsibilities for cleanup, and the extended period over which any costs would be incurred, management believes that the Company has no liability at these sites and that these matters, individually and in the aggregate, will not have a material effect on the Company’s financial position. However, in the event of one or more adverse determinations with respect to such sites in any annual or interim period, the effect on the Company’s cash flows and results of operations for those periods could be material.

Following are summaries of the major contingencies at December 31, 2018:

Maywood, New Jersey Site

The Company’s property in Maywood, New Jersey and property formerly owned by the Company adjacent to its current site and other nearby properties (Maywood site) were listed on the National Priorities List in September 1993 pursuant to the provisions of CERCLA because of certain alleged chemical contamination. Pursuant to an Administrative Order on Consent entered into between USEPA and the Company for property formerly owned by the Company, and the issuance of an order by USEPA to the Company for property currently owned by the Company, the Company has completed various Remedial Investigation Feasibility Studies (RI/FS), and on September 24, 2014, USEPA issued its Record of Decision (ROD) for chemically-contaminated soil. USEPA has not yet issued a ROD for chemically-contaminated groundwater for Maywood site. Based on the most current information available, the Company believes its recorded liability is reasonable having considered the range of estimated cost of remediation for the Maywood site. The estimate of the cost of remediation for the Maywood site could change as the Company continues to hold discussions with USEPA, as the design of the remedial action progresses, if a groundwater ROD is issued or if other PRPs are identified. The ultimate amount for which the Company is liable could differ from the Company’s current recorded liability.

In April 2015, the Company entered into an Administrative Settlement Agreement and Administrative Order on Consent with USEPA which requires payment of certain costs and performance of certain investigative and design work for chemically-contaminated soil. Based on the Company’s review and analysis of this order, no changes to the Company’s current recorded liability for claims associated with soil remediation of chemical contamination were required.

In addition, under the terms of a settlement agreement reached on November 12, 2004, the United States Department of Justice and the Company agreed to fulfill the terms of a Cooperative Agreement reached in 1985 under which the United States will take title to and responsibility for radioactive waste removal at the Maywood site, including past and future remediation costs incurred by the United States. As such, the Company recorded no liability related to this settlement agreement.

D’Imperio Property Site

During the mid-1970’s, Jerome Lightman and the Lightman Drum Company disposed of hazardous substances at several sites in New Jersey. The Company was named as a PRP in a lawsuit in the U.S. District court for the district of New Jersey that involved the D’Imperio Property Site located in New Jersey. In 2016, the PRPs were provided with updated remediation cost estimates which were considered in the Company’s determination of its range of estimated possible losses and liability balance. The changes in range of possible losses and liability balance were immaterial. Remediation work is continuing at this site. Based on current information, the Company believes that its recorded liability is reasonable having considered the range of estimated cost of remediation for the D’Imperio site. Depending on the ultimate cost of the remediation at this site, the amount for which the Company is liable could differ from the current estimates.

Wilmington Site

The Company is currently contractually obligated to contribute to the response costs associated with the Company’s formerly-owned site in Wilmington, Massachusetts. Remediation at this site is being managed by its current owner to whom the Company sold the property in 1980. Under the agreement, once total site remediation costs exceed certain levels, the Company is obligated to contribute up to five percent of future response costs associated with this site with no limitation on the ultimate amount of contributions. The Company has paid the current owner $2.6 million for the Company’s portion of environmental response costs through December 31, 2018. The Company has recorded a liability for its portion of the estimated remediation costs for the site. Depending on the ultimate cost of the remediation at this site, the amount for which the Company is liable could differ from the current estimates.

The Company and other prior owners also entered into an agreement in April 2004 waiving certain statute of limitations defenses for claims which may be filed by the Town of Wilmington, Massachusetts, in connection with this site. While the Company has denied any liability for any such claims, the Company agreed to this waiver while the parties continue to discuss the resolution of any potential claim which may be filed.

Other U.S. Sites

Through the regular environmental monitoring of its plant production sites, the Company discovered levels of chemical contamination that were above thresholds allowed by law at two of its U.S plants. The Company voluntarily reported its results to the applicable state environmental agencies. As a result, the Company is required to perform self-remediation of the affected areas. In the fourth quarter of 2016, the Company recognized a charge for the estimated cost of remediating the sites. Based on current information, the Company believes that its recorded liability for the remediation of the affected areas is appropriate based on the estimate of expected costs. However, actual costs could differ from current estimates.

Segment Reporting

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Segment Reporting

17. Segment Reporting

The Company has three reportable segments: Surfactants, Polymers and Specialty Products. Each segment provides distinct products and requires separate management due to unique markets, technologies and production processes. Surfactants are used in a variety of consumer and industrial cleaning compounds as well as in agricultural products, lubricating ingredients, oil field chemicals and other specialized applications. Polymers are used primarily in plastics, building materials, refrigeration systems and CASE applications. Specialty Products are used in food, flavoring, nutritional supplement and pharmaceutical applications.

The Company evaluates the performance of its segments and allocates resources based on operating income before interest expense, other income/expense items and income tax provision. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies.

The following is segment data for the three years ended December 31, 2018, 2017 and 2016:

(In thousands)	Surfactants		Polymers		Specialty Products		Segment Totals
2018
Net sales	$	1,385,932	$	527,420	$	80,505	$	1,993,857
Operating income		137,506		64,539		11,661		213,706
Assets		850,553		351,690		82,957		1,285,200
Capital expenditures		51,543		26,663		6,192		84,398
Depreciation and amortization expenses		50,514		23,253		5,150		78,917

2017
Net sales	$	1,297,555	$	546,634	$	80,818	$	1,925,007
Operating income ^(a)		120,861		82,951		9,965		213,777
Assets		881,415		355,065		75,452		1,311,932
Capital expenditures		50,400		21,146		4,234		75,780
Depreciation and amortization expenses		49,102		22,998		5,019		77,119

2016
Net sales	$	1,181,563	$	498,826	$	85,777	$	1,766,166
Operating income ^(a)		101,092		97,102		10,725		208,919
Assets		831,324		301,890		75,483		1,208,697
Capital expenditures		64,121		31,890		4,194		100,205
Depreciation and amortization expenses		48,643		20,275		4,204		73,122

(a)

The 2017 and 2016 amounts for the noted line items have been immaterially changed from the amounts originally reported as a result of the Company’s first quarter 2018 adoption of ASU No. 2017-7, Compensation –Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.

Below are reconciliations of segment data to the consolidated financial statements:

(In thousands)	2018			2017			2016
Operating income - segment totals ^(a)	$	213,706		$	213,777		$	208,919
Business restructuring and asset impairments ^(b)		(2,588	)		(3,069	)		(7,064	)
Unallocated corporate expenses ^(c)		(59,699	)		(63,513	)		(74,025	)
Total operating income		151,419			147,195			127,830
Interest expense, net		(10,771	)		(11,444	)		(13,205	)
Other, net ^(a)		(725	)		3,486			(809	)
Consolidated income before income taxes	$	139,923		$	139,237		$	113,816

Assets - segment totals	$	1,285,200		$	1,311,932		$	1,208,697
Unallocated corporate assets ^(d)		199,466			158,929			145,193
Consolidated assets	$	1,484,666		$	1,470,861		$	1,353,890

Capital expenditures - segment totals	$	84,398		$	75,780		$	100,205
Unallocated corporate expenditures		2,249			2,833			2,871
Consolidated capital expenditures	$	86,647		$	78,613		$	103,076

Depreciation and amortization expenses – segment totals	$	78,917		$	77,119		$	73,122
Unallocated corporate depreciation expenses		2,198			1,903			1,845
Consolidated depreciation and amortization expenses	$	81,115		$	79,022		$	74,967

(a)

(b)

See Note 22 regarding business restructuring and asset impairment costs.

(c)

Unallocated corporate expenses primarily comprise corporate administrative expenses (e.g., corporate finance, legal, human resources, information systems, deferred compensation and environmental remediation) that are not included in segment operating income and not used to evaluate segment performance.

(d)

The changes in unallocated corporate assets between 2018, 2017 and 2016 were primarily attributable to changes in the balance of U.S. cash and cash equivalents, which are not allocated to segments.

Below is certain Company-wide geographic data for the years ended December 31, 2018, 2017 and 2016:

(In thousands)	2018		2017		2016
Net sales ^(a)
United States	$	1,193,938	$	1,159,578	$	1,076,259
France		171,010		176,052		151,031
Poland		170,474		188,244		153,986
United Kingdom		105,732		99,069		86,458
Brazil		100,328		109,960		74,961
All other countries		252,375		192,104		223,471
Total	$	1,993,857	$	1,925,007	$	1,766,166

Long-lived assets ^(b)
United States	$	427,274	$	420,342	$	411,023
Germany		29,151		29,116		27,475
Singapore		30,838		33,530		36,270
Brazil		48,427		55,974		58,106
China		29,030		30,849		29,508
United Kingdom		20,225		21,657		20,309
All other countries		61,145		50,631		47,670
Total	$	646,090	$	642,099	$	630,361

(a)

Net sales are attributed to countries based on the location of the Company facility making the sales.

(b)

Includes net property, plant and equipment, goodwill and other intangible assets.

Earnings Per Share

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Earnings Per Share

18. Earnings Per Share

Below is the computation of basic and diluted earnings per share for the years ended December 31, 2018, 2017 and 2016.

(In thousands, except per share amounts)	2018		2017		2016
Computation of Basic Earnings per Share
Net income attributable to Stepan Company	$	112,762	$	91,578	$	86,191
Weighted-average number of shares outstanding		23,022		22,946		22,793
Basic earnings per share	$	4.90	$	3.99	$	3.78
Computation of Diluted Earnings per Share
Net income attributable to Stepan Company	$	112,762	$	91,578	$	86,191
Weighted-average number of shares outstanding		23,022		22,946		22,793
Add weighted-average net shares from assumed exercise of options (under treasury share method) ^(a)		101		161		159
Add weighted-average net shares related to unvested stock awards (under treasury share method)		3		8		6
Add weighted-average net shares from assumed exercise of SARs (under treasury share method)		110		142		68
Add weighted-average contingently issuable net shares related to performance stock awards (under treasury share method)		89		120		68
Weighted-average shares applicable to diluted earnings		23,325		23,377		23,094
Diluted earnings per share	$	4.83	$	3.92	$	3.73

(a)

Options/SARs to purchase 50,770, 18,630 and 43,715 shares of common stock were not included in the computations of diluted earnings per share for the years ended December 31, 2018, 2017 and 2016, respectively. The options’/SARs’ exercise prices were greater than the average market price for the common stock and the effect of the options/SARs on earnings per share would have been antidilutive.

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

19. Accumulated Other Comprehensive Income (Loss)

Below is the change in the Company’s accumulated other comprehensive income (loss) (AOCI) balance by component (net of income taxes) for the years ended December 31, 2018, 2017 and 2016:

(In thousands)	Foreign Currency Translation Adjustments			Defined Benefit Pension Plan Adjustments			Cash Flow Hedge Adjustments			Total

Balance at December 31, 2015	$	(88,337	)	$	(36,825	)	$	74		$	(125,088	)

Other comprehensive income before reclassifications		(8,438	)		3,818			(19	)		(4,639	)

Amounts reclassified from AOCI		—			2,217			45			2,262

Net current period other comprehensive income		(8,438	)		6,035			26			(2,377	)

Balance at December 31, 2016	$	(96,775	)	$	(30,790	)	$	100		$	(127,465	)

Other comprehensive income before reclassifications		26,214			(582	)		—			25,632

Amounts reclassified from AOCI		—			2,279			(9	)		2,270

Net current period other comprehensive income		26,214			1,697			(9	)		27,902

Balance at December 31, 2017	$	(70,561	)	$	(29,093	)	$	91		$	(99,563	)

Other comprehensive income before reclassifications		(37,920	)		(7,080	)		—			(45,000	)

Amounts reclassified from AOCI		—			3,090			(10	)		3,080
Net current period other comprehensive income		(37,920	)		(3,990	)		(10	)		(41,920	)

Balance at December 31, 2018	$	(108,481	)	$	(33,083	)	$	81		$	(141,483	)

Amounts reclassified out of AOCI for the three years ended December 31, 2018, 2017 and 2016, is displayed below:

	Amounts Reclassified from AOCI ^(a)
(In thousands)										Affected Line Item in Consolidated
	2018			2017			2016			Statements of Income
Amortization of defined pension items:
Prior service cost	$	(12	)	$	(14	)	$	(14	)
Actuarial loss		(4,059	)		(3,509	)		(3,508	)
	$	(4,071	)		(3,523	)		(3,522	)	Total before tax ^(b)
		981			1,244			1,305		Tax benefit
	$	(3,090	)	$	(2,279	)	$	(2,217	)	Net of tax

Gains and losses on cash flow hedges:
Interest rate contracts	$	—		$	—		$	(82	)	Interest, net
Foreign exchange contracts		10			9			9		Cost of sales
		10			9			(73	)	Total before tax
					—			28		Tax benefit
	$	10		$	9		$	(45	)	Net of tax
Total reclassifications for the period	$	(3,080	)	$	(2,270	)	$	(2,262	)	Net of tax

(a)

Amounts in parentheses denote expense to statement of income.

(b)

This component of accumulated other comprehensive income is included in the computation of net periodic benefit cost (see Note 13 for details regarding net periodic benefit costs for the Company’s U.S. and U.K. defined benefit plans).

Acquisitions

12 Months Ended

Dec. 31, 2018

Business Combinations [Abstract]

Acquisitions

20. Acquisitions

2018 Acquisition

On March 26, 2018, the Company, through a subsidiary in Mexico, acquired BASF’s production facility in Ecatepec, Mexico and a portion of its related surfactants business. The facility, which is near Mexico City, has over 50,000 metric tons of capacity, 124,000 square feet of warehouse space, a large laboratory and office space. The acquired assets and business are included in the Company’s Surfactants segment. The initial purchase price of the acquisition was $21,475,000 and was paid with cash on hand. The primary assets acquired were land, buildings, machinery and equipment and inventory. In the third quarter of 2018 the Company reached alignment with BASF on the final value of inventory acquired. The incremental inventory and related value-added taxes totaled $1,377,000 and increased the total assets acquired in the transaction from $21,475,000 to $22,852,000 as of December 31, 2018. The final inventory settlement payment of $1,377,000 was made in the fourth quarter of 2018. The acquisition was accounted for as a business combination, and, accordingly, the assets acquired were measured and recorded at their estimated fair values. No intangible assets were identified as part of the acquisition. The following table summarizes the assets acquired as a result of the acquisition:


(In thousands)
Assets:
Property, plant and equipment	$	14,464
Inventory		5,687
Other Receivable		2,701
Total assets acquired	$	22,852

The acquired business had a minimal impact on the Company’s 2018 financial results. Pro forma financial information for 2017 and 2018 has not been included because revenues and earnings of the Company would not have been significantly different than reported had the acquisition date been January 1, 2017.

2016 Acquisitions

On October 3, 2016, the Company’s subsidiary in Brazil acquired the commercial business of Tebras Tensoativos do Brasil Ltda. (Tebras) and the sulfonation production facility of PBC Industria Quimica Ltda. (PBC). The original purchase price of the acquisitions, including adjustments for working capital, was R$93,309,000 (approximately $29,075,000), of which R$70,000,000 (approximately $21,812,000) was paid in the fourth quarter of 2016 from cash on hand, R$9,000,000 (approximately $2,804,000) was deposited in escrow to cover certain potential losses as specified in the purchase agreement and R$14,309,000 (approximately $4,459,000) for working capital adjustments was unpaid at December 31, 2016 pending agreement on the adjustment amounts. (All U.S. dollar equivalents were calculated using the October 3, 2016 exchange rates.)

In the first quarter of 2017, the Company settled on and paid the working capital adjustment amounts that were outstanding at December 31, 2016. The payment totaled R$13,925,000 (approximately $4,339,000), which made the adjusted purchase price of the acquisitions R$92,925,000 (approximately $28,955,000). As a result of the change in purchase price, the amount of the purchase price allocated to goodwill changed from $14,327,000 to $14,207,000. The value of all other assets acquired and liabilities assumed remained as previously reported. In addition, the change in purchase price had no impact on the Company’s current or previously reported results of operations.

The combined entities have 25,000 metric tons of sulfonation capacity and a large, diverse customer portfolio. The acquisition expanded and diversified the Company’s customer base for sulfonated products in Brazil and provided an opportunity to sell the Company’s broader surfactant portfolio to over 1,200 new customers who benefit from the Company’s technical service and formulation support. The acquired businesses are included in the Company’s Surfactants segment.

The acquisitions were accounted for as a business combination, and, accordingly, the assets acquired and liabilities assumed as part of the acquisition were measured and recorded at their estimated fair values. The following table summarizes the assets acquired and liabilities assumed:

(In thousands)
Assets:
Current assets	$	5,165
Property, plant and equipment		5,716
Identifiable intangible assets		7,354
Goodwill		14,207
Total assets acquired	$	32,442

Liabilities:
Current liabilities	$	408
Deferred tax liability		3,079
Total liabilities assumed	$	3,487
Net assets acquired	$	28,955

The acquired goodwill, which was assigned entirely to the Company’s Surfactant segment, is not tax deductible. The goodwill reflects the opportunity of introducing the Company’s broad line of surfactant products to the acquired entities’ large customer base. Identifiable intangible assets included customer relationships ($4,331,000), a supply contract ($2,555,000) and non-compete agreements ($468,000). The amortization period for these intangibles are 13 years, four years and five years, respectively.

Tebras and PBC generated approximately $28,000,000 in net sales in 2015, with net income of less than $2,000,000. Pro forma financial information for 2016 has not been included because revenues and earnings of the Company would not have been significantly different than reported had the acquisition date been January 1, 2016.

Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2018

Revenue From Contract With Customer [Abstract]

Revenue from Contracts with Customers

21. Revenue from Contracts with Customers

In the majority of instances the Company deems a contract with a customer to exist when a purchase order is received from a customer for a specified quantity of product or products and the Company acknowledges receipt of such purchase order. In some instances the Company has entered into manufacturing supply agreements with customers but these agreements typically do not bind a customer to any purchase volume requirements and thus an obligation is not created until the customer submits a purchase order to the Company. The Company’s contracts typically have a single performance obligation that is satisfied at the time product is shipped and control passes to the customer. For a small portion of the business, performance obligations are deemed satisfied when product is delivered to a customer location. Revenue is recognized when performance obligations under terms of a contract with a customer have been satisfied, which is predominantly at a point in time. With the 2018 adoption of ASU 2014-09, revenue is currently recognized when a customer obtains control of a product as compared to the “risk and rewards” criteria used in prior years. However, in 2018, the adoption of ASU 2014-09 did not have a material impact on the Company’s financial position or results of operations.

Payment terms on sales of product typically range from 30 to 60 days. As a result, the Company has concluded it does not provide any significant benefits of financing to its customers.

The Company has elected to account for shipping and handling as activities to fulfill a promise to transfer the good. As such, shipping and handling fees billed to customers in a sales transaction are recorded in Net Sales and shipping and handling costs incurred are recorded in Cost of Sales. The Company has elected to exclude from Net Sales any value added, sales and other taxes that it collects concurrently with revenue producing activities. These accounting policy elections are consistent with the manner in which the Company has historically recorded shipping and handling fees and taxes.

In some instances, a customer may qualify for a rebate based on the volume of purchases made over a specified period of time, typically a quarterly or annual period. The Company accrues these rebates for each customer under the most likely amount method by estimating the expected volume of total purchases for each customer using actual volumes, customer projections and historical order patterns. These estimated rebates are treated as a reduction to Net Sales with the offset being recognized within Current Liabilities. This methodology is consistent with the manner in which the Company has historically estimated and recorded volume based rebates. In other instances, discounts for early payments are offered to certain customers. These discounts are principally accrued for based the historical use of discounts for all customers using the expected-value method. These estimated early payment discounts are accounted for as a reduction to Net Sales similarly to volume rebates. These forms of variable consideration are considered part of the transaction price.

The Company typically warrants its products from defects. The Company has concluded that these represent assurance-type warranties as opposed to service-type warranties. Product defects are rare in occurrence. As a result, the Company does not maintain any warranty accruals until such time as it is probable a product defect exists.

As of December 31, 2018, the Company did not have any contract assets or contract liabilities. A contract liability would typically arise when an advance or deposit is received from a customer before the Company recognizes revenue. In practice, this is rare as it would require a customer to make a payment prior to a performance obligation being satisfied. If such a situation did arise the Company would maintain a deferred revenue liability until the time a performance obligation has been satisfied. The Company did not recognize any revenue in the current period from any pre-existing contract liability balance.

The tables below provide a geographic disaggregation of net sales for the years ended December 31, 2018, 2017 and 2016. The Company’s business segmentation by geographic region most effectively captures the nature and economic characteristics of the Company’s revenue streams impacted by economic factors.

	2018
(In thousands)	Surfactants		Polymers		Specialty Products		Total
Geographic Market
North America	$	831,592	$	323,360	$	68,201	$	1,223,153
Europe		276,742		172,632		12,304		461,678
Latin America		212,824		3,463		—		216,287
Asia		64,774		27,965		—		92,739
Total	$	1,385,932	$	527,420	$	80,505	$	1,993,857

	2017
(In thousands)	Surfactants		Polymers		Specialty Products		Total
Geographic Market
North America	$	763,044	$	329,629	$	66,906		1,159,579
Europe		275,121		188,244		13,912		477,277
Latin America		190,802		4,451		—		195,253
Asia		68,588		24,310		—		92,898
Total	$	1,297,555	$	546,634	$	80,818	$	1,925,007

	2016
(In thousands)	Surfactants		Polymers		Specialty Products		Total
Geographic Market
North America	$	724,619	$	319,769	$	69,701		1,114,089
Europe		237,489		153,986		16,076		407,551
Latin America		151,229		4,640		—		155,869
Asia		68,226		20,431		—		88,657
Total	$	1,181,563	$	498,826	$	85,777	$	1,766,166

Business Restructuring and Asset Impairments

12 Months Ended

Dec. 31, 2018

Restructuring And Related Activities [Abstract]

Business Restructuring and Asset Impairments

22. Business Restructuring and Asset Impairments

2018 Restructuring

During the third quarter of 2018, the Company approved a plan to shut down Surfactants operations at its German plant site. As of December 31, 2018, the Company recognized restructuring costs of $1,404,000 comprised of asset and spare part write-downs. The shutdown decision was made in order to reduce the Company’s fixed cost base, facilitate a refocusing of Surfactant resources on higher margin end markets and allow for select assets to be repurposed to support future polyol growth. Decommissioning expenses associated with the shutdown are expected to be incurred throughout 2019.

2017 Restructuring

During the fourth quarter of 2017, the Company approved a plan to restructure a portion of its Fieldsboro, New Jersey production facility. This decision was made to improve future asset utilization and reduce the North American cost base going forward. The Company recorded $915,000 of restructuring expenses which reflected termination benefits for the plant employees. In addition, the Company reduced the useful lives of the manufacturing assets that were impacted by the restructuring and recorded $1,290,000 of accelerated depreciation. This expense was recorded in the cost of sales line of the consolidated statements of income.

Also, in June 2017, the Company eliminated 11 positions from manufacturing operations at its Singapore plant. The Singapore plant is part of the Company’s Surfactant segment. The reduction in positions was made to better align the number of personnel with current business requirements and to reduce costs at that site. As a result of the reduction in workforce, termination expense of $132,000 was recognized in the second quarter of 2017 and there was no remaining liability for the termination pay as of December 31, 2017.

2016 Restructuring

In May 2016, the Company announced plans to shut down its Longford Mills, Ontario, Canada (Longford Mills) manufacturing facility, a part of the Surfactant reportable segment, by December 31, 2016. The shutdown plan was developed as an effort to improve the Company’s asset utilization in North America and to reduce the Company’s fixed cost base. Manufacturing operation of the Longford Mills plant ceased by the end of 2016 and production of goods manufactured at the facility was moved to other Company North American production sites. In addition to the restructuring costs, the Company reduced the useful lives of the manufacturing assets in the Longford Mills plant. As a result, the Company recognized $4,471,000 of additional depreciation expense for the year ended December 31, 2016. The expense was included in the cost of sales line of the consolidated statements of income. No additional depreciation related to the change in the useful lives of the assets was recognized in 2017 and 2018.

Decommissioning of the assets continued throughout 2018 and $1,185,000 of decommissioning expense was recognized in 2018. As of December 31, 2018, an aggregate of $6,024,000 of expense has been recognized since the beginning of the restructuring, reflecting $1,594,000 of termination benefits for approximately 30 employees and $4,430,000 for other expenses principally related to site decommissioning costs. Site decommissioning costs will continue to be incurred in 2019.

Below is a reconciliation of the beginning and ending balances of the Longford Mills restructuring liability:

(In thousands)	Termination Benefits			Other Expense			Total
Restructuring liability at January 1, 2017	$	1,548		$	437		$	1,985
Expense recognized		-			2,022			2,022
Amounts paid		(1,012	)		(2,377	)		(3,389	)
Foreign currency translation		56			17			73
Restructuring liability at December 31, 2017	$	592		$	99		$	691
Expense recognized		-			1,185			1,185
Amounts paid		(312	)		(1,194	)		(1,506	)
Foreign currency translation		(20	)		(7	)		(27	)
Restructuring liability at December 31, 2018	$	260		$	83		$	343

2016 Asset Impairments

In the fourth quarter of 2016, the Company recorded pretax charges for asset impairments of $4,247,000, all related to the Company’s Surfactant segment (although the charges were excluded from the Surfactant segment operating results). In the United States, $2,297,000 of engineering and design costs associated with a planned nonionic surfactants plant construction project in Louisiana were written off from the Company’s construction-in-process account, as management decided to make nonionic surfactants at or near the Pasadena, Texas site the Company acquired from the Sun Products Corporation in 2015. In Brazil, the major customer for the Bahia plant exited the product line for which that plant supplied them product. As a result, the Company was required to recognize $1,950,000 of asset impairment expenses for the facility. Because the customer was under contract with the Company, a negotiated agreement was reached in 2016 whereby the customer agreed to compensate the Company in the lump-sum amount of $4,250,000 for lost future revenues. The compensation was reported in net sales for the year ended December 31, 2016.

Customer Claims

12 Months Ended

Dec. 31, 2018

Commitments And Contingencies Disclosure [Abstract]

Customer Claims

23. Customer Claims

In the fourth quarter of 2016, the Company established a reserve for two customer claims which alleged that product manufactured by the Company may have caused performance problems with the customers’ products. The combined amount of the reserve was $7,367,000, which was recorded as a reduction of net sales in the year ended December 31, 2016. Both claims related to the Company’s Surfactant segment. In the fourth quarter of 2017, the Company paid $2,709,000 for one of the claims and reversed the remainder of the reserve for the claim. The claim reversal was recorded within net sales. The second claim remains open.

Statement of Cash Flows - Noncash Investing and Financing Activities

12 Months Ended

Dec. 31, 2018

Supplemental Cash Flow Elements [Abstract]

Statement of Cash Flows - Noncash Investing and Financing Activities

24. Statement of Cash Flows – Noncash Investing and Financing Activities

Noncash investing activities included liabilities (accounts payable) incurred for fixed asset acquisitions of approximately $15,119,000, $12,600,000, and $10,410,000 that were unpaid at December 31, 2018, 2017 and 2016, respectively. Noncash investing activities in 2016 included $4,459,000 for unpaid working capital adjustments related to the Company’s 2016 acquisitions in Brazil (see Note 20). Noncash financing activities in 2018 included 99,497 shares of Company common stock (valued at $7,931,000) issued in connection with the Company’s stock award plan. Noncash financing activities in 2017 included 35,372 shares of Company common stock (valued at $2,941,000) issued in connection with the Company’s stock award plan. Noncash financing activities were immaterial for the year ended December 31, 2016.

Selected Quarterly Financial Data

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data

(In thousands, except per share data)

Unaudited

	2018
Quarter	First			Second			Third			Fourth			Year
Net Sales	$	499,335		$	519,866		$	507,997		$	466,659		$	1,993,857
Gross Profit		89,570			89,280			84,125			78,528			341,503
Operating Income		39,655			44,685			27,694			39,385			151,419
Interest, net		(3,151	)		(2,672	)		(2,797	)		(2,151	)		(10,771	)
Income Before Income Taxes		37,664			42,497			25,243			34,519			139,923
Net Income		30,716			32,923			22,168			26,943			112,750
Net Income Attributable to Stepan Company		30,723			32,925			22,168			26,946			112,762
Per Diluted Share		1.31			1.41			0.95			1.16			4.83

	2017
Quarter	First			Second			Third			Fourth			Year
Net Sales	$	468,269		$	495,101		$	487,814		$	473,823		$	1,925,007
Gross Profit ^(a)		92,119			89,988			75,576			80,839			338,522
Operating Income ^(a)		46,230			39,133			30,434			31,398			147,195
Interest, net		(2,992	)		(2,863	)		(2,763	)		(2,826	)		(11,444	)
Income Before Income Taxes		44,330			37,063			29,312			28,532			139,237
Net Income		31,912			27,896			21,853			9,886			91,547
Net Income Attributable to Stepan Company		31,913			27,882			21,899			9,884			91,578
Per Diluted Share		1.37			1.19			0.94			0.42			3.92

(a)

The 2017 gross profit and operating income line items have been immaterially changed from the amounts originally reported as a result of the Company’s first quarter 2018 adoption of ASU No. 2017-7, Compensation –Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Nature of Operations

Use of Estimates

Principles of Consolidation

Cash and Cash Equivalents

The Company considers all highly liquid investments with purchased maturities of three months or less to be cash equivalents.

Receivables and Credit Risk

The following is an analysis of the allowance for doubtful accounts and other accounts receivable allowances for the years ended December 31, 2018, 2017 and 2016:

(In thousands)	2018			2017		2016
Balance at January 1	$	10,116		$	9,755	$	8,046
Provision charged to income		764			45		1,917
Accounts written off, net of recoveries		(1,226	)		316		(208	)
Balance at December 31	$	9,654		$	10,116	$	9,755

Inventories

Property, Plant and Equipment

Interest charges on borrowings applicable to major construction projects are capitalized.

Property, plant and equipment assets are tested for impairment when events indicate that impairment may have occurred. See Note 22 for 2016 asset impairments.

Fair Value Measurements

Level 1 - quoted prices in active markets for identical assets and liabilities.

Level 3 - unobservable inputs which reflect the entity’s own assumptions about the assumptions market participants use in pricing the assets and liabilities.

Revenue Recognition

Environmental Expenditures

Operating Expenses

Compensation expense or income related to the Company’s deferred compensation plans is presented in the deferred compensation expense (income) line in the Consolidated Statements of Income.

Goodwill and Other Intangible Assets

Income Taxes

See Note 9 for detailed information about income taxes including SAB 118 disclosures.

Translation of Foreign Currencies

Stock-Based Compensation

Earnings Per Share

Comprehensive Income and Accumulated Other Comprehensive Income

Segment Reporting

Derivative Instruments

Recent Accounting Pronouncements

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Allowance for Doubtful Accounts and Other Accounts Receivable Allowance

The following is an analysis of the allowance for doubtful accounts and other accounts receivable allowances for the years ended December 31, 2018, 2017 and 2016:

(In thousands)	2018			2017		2016
Balance at January 1	$	10,116		$	9,755	$	8,046
Provision charged to income		764			45		1,917
Accounts written off, net of recoveries		(1,226	)		316		(208	)
Balance at December 31	$	9,654		$	10,116	$	9,755

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Fair Values and Related Carrying Values of Debt

(In thousands)	December 31
	2018		2017
Fair value	$	274,119	$	293,272

Carrying value		277,058		291,786

Financial Assets and Liabilities Measured on a Recurring Basis at Fair Value

(In thousands)	December 2018		Level 1		Level 2		Level 3
Mutual fund assets	$	25,082	$	25,082	$	—	$	—
Derivative assets:
Foreign currency contracts		185		—		185		—
Total assets at fair value	$	25,267	$	25,082	$	185	$	—

Derivative liabilities:
Foreign currency contracts	$	10	$	—	$	10	$	—
Total liabilities at fair value	$	10	$	—	$	10	$	—

(In thousands)	December 2017		Level 1		Level 2		Level 3
Mutual fund assets	$	28,270	$	28,270	$	—	$	—
Derivative assets:
Foreign currency contracts		335		—		335		—
Total assets at fair value	$	28,605	$	28,270	$	335	$	—

Derivative liabilities:
Foreign currency contracts	$	94	$	—	$	94	$	—
Total liabilities at fair value	$	94	$	—	$	94	$	—

Goodwill And Intangible Assets Disclosure [Abstract]

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Changes in Carrying Value of Goodwill

The changes in the carrying value of goodwill for the years ended December 31, 2018 and 2017, were as follows:

(In thousands)	Surfactants Segment						Polymer Segment					Specialty Products Segment				Total
	2018			2017			2018			2017		2018		2017		2018			2017
Balance as of January 1
Goodwill	$	22,627		$	22,958		$	5,475		$	5,334	$	483	$	483	$	28,585		$	28,775
Accumulated impairment loss		(3,467	)		(3,467	)		—			—		—		—		(3,467	)		(3,467	)
Goodwill, net		19,160			19,491			5,475			5,334		483		483		25,118			25,308
Goodwill acquired		—			—			—			—		—		—		—			—
Goodwill measurement period adjustment ^(a)		—			(120	)		—			—		—		—		—			(120	)
Foreign currency translation		(2,106	)		(211	)		(58	)		141		—		—		(2,164	)		(70	)
Balance as of December 31
Goodwill		20,521			22,627			5,417			5,475		483		483		26,421			28,585
Accumulated impairment loss		(3,467	)		(3,467	)		—			—		—		—		(3,467	)		(3,467	)
Goodwill, net	$	17,054		$	19,160		$	5,417		$	5,475	$	483	$	483	$	22,954		$	25,118

(a)	See Note 20 for information regarding the goodwill acquired in a business combination.

Components of Other Intangible Assets and Changes in Gross Carrying Values

(In thousands)	Gross Carrying Value				Accumulated Amortization
	December 31				December 31
	2018		2017		2018		2017
Other Intangible Assets:
Patents	$	6,947	$	6,947	$	4,492	$	3,893
Non-compete agreements		387	$	453		173	$	113
Trademarks		3,800		4,087		1,929		1,870
Customer lists		10,750		12,150		4,356		4,299
Supply contract		2,113		2,476		1,189		774
Know-how ^(a)		7,900		8,043		5,514		4,669
Total	$	31,897	$	34,156	$	17,653	$	15,618

(a)

Estimated Amortization Expense for Identifiable Intangibles Assets

Estimated amortization expense for identifiable intangibles assets for each of the five succeeding fiscal years is as follows:

(In thousands)
For year ended 12/31/19	$	3,428
For year ended 12/31/20		3,296
For year ended 12/31/21		1,967
For year ended 12/31/22		1,321
For year ended 12/31/23		1,321

Inventories (Tables)

12 Months Ended

Dec. 31, 2018

Inventory Disclosure [Abstract]

Composition of Inventories

The composition of inventories was as follows:

	December 31
(In thousands)	2018		2017
Finished products	$	141,900	$	117,529
Raw materials		58,265		55,219
Total inventories	$	200,165	$	172,748

Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Debt

Debt comprised the following at December 31, 2018 and 2017:

(In thousands)	Maturity Dates	December 31, 2018		December 31, 2017
Unsecured private placement notes
3.95% (net of unamortized debt issuance cost of $360 and $346 for 2018 and 2017, respectively)	2021-2027	$	99,640	$	99,654
3.86% (net of unamortized debt issuance cost of $347 and $343 for 2018 and 2017, respectively)	2019-2025		99,653		99,657
4.86% (net of unamortized debt issuance cost of $186 and $191 for 2018 and 2017, respectively)	2018-2023		46,243		55,523
5.88% (net of unamortized debt issuance cost of $85 and $95 for 2018 and 2017, respectively)	2018-2022		22,772		28,476
5.69% (net of unamortized debt issuance cost of $0 and $12 for 2018 and 2017, respectively)	2018		—		5,703
Debt of foreign subsidiaries
Unsecured bank debt, foreign currency	2019		7,772		1,786
Total debt		$	276,080	$	290,799
Less current maturities			37,058		22,500
Long-term debt		$	239,022	$	268,299

Schedule of Net Interest Expense

Net interest expense for the years ended December 31, 2018, 2017 and 2016, comprised the following:

(In thousands)	2018		2017			2016
Interest expense	$	13,360	$	14,428		$	15,240
Interest income		(1,829)		(2,075	)		(1,247	)
		11,531		12,353			13,993
Capitalized interest		(760)		(909	)		(788	)
Interest expense, net	$	10,771	$	11,444		$	13,205

Consolidated Company Minimum Future Rental Payments Under Operating Leases With Initial or Remaining Noncancelable Lease Terms in Excess of One Year

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Leased Properties (Tables)

12 Months Ended

Dec. 31, 2018

Leases [Abstract]

Consolidated Company minimum future rental payments under operating leases with initial or remaining noncancelable lease terms in excess of one year as of December 31, 2018, are:

(In thousands)
Year
2019	$	9,740
2020		8,294
2021		6,027
2022		5,242
2023		4,101
Subsequent to 2023		16,593
Total minimum future rental payments	$	49,997

Other, Net (Tables)

12 Months Ended

Dec. 31, 2018

Other Income And Expenses [Abstract]

Other Net in Consolidated Statements of Income

Other, net in the consolidated statements of income included the following for the years ended December 31, 2018, 2017 and 2016:

(In thousands)	2018			2017			2016
Foreign exchange gains (losses)	$	1,902		$	(646	)	$	(14	)
Investment income		1,554			989			690
Realized and unrealized gains(losses) on investments		(2,966	)		4,178			152
Net periodic benefit cost		(1,215	)		(1,035	)		(1,637	)
Other, net	$	(725	)	$	3,486		$	(809	)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Provision for Taxes on Income and Other Related Income Before Taxes

The provisions for taxes on income and the related income before taxes for the years ended December 31, 2018, 2017 and 2016, were as follows:

(In thousands)	2018			2017			2016
Taxes on Income
Federal
Current	$	(296	)	$	32,299		$	18,811
Deferred		9,314			(1,744	)		(3,192	)
State
Current		2,095			1,764			2,273
Deferred		1,892			192			(1,171	)
Foreign
Current		14,510			13,077			14,960
Deferred		(342	)		2,102			(4,063	)
Total	$	27,173		$	47,690		$	27,618
Income before Taxes
Domestic	$	88,522		$	72,662		$	64,675
Foreign		51,401			66,575			49,141
Total	$	139,923		$	139,237		$	113,816

Summary of Variations Between the Effective and Statutory U.S. Federal Income Tax Rates

The variations between the effective and statutory U.S. federal income tax rates are summarized as follows:

(In thousands)	2018 Amount			%			2017 Amount			%			2016 Amount			%
Federal income tax provision at statutory tax rate	$	29,384			21.0		$	48,733			35.0		$	39,836			35.0
State income tax provision, less applicable federal tax benefit		3,150			2.3			1,271			0.9			716			0.6
Foreign income taxed at different rates		864			0.6			(8,075	)		(5.8	)		(6,325	)		(5.6	)
U.S. taxation of foreign earnings^(a)		2,348			1.7			(1,054	)		(0.8	)		14			—
Unrecognized tax benefits		(460	)		(0.3	)		(47	)		—			23			—
Domestic production activities deduction		—			—			(1,339	)		(1.0	)		(1,633	)		(1.4	)
Nontaxable foreign interest income		(1,179	)		(0.8	)		(2,073	)		(1.5	)		(2,030	)		(1.8	)
U.S. tax reform, net impact^(b)		(375	)		(0.3	)		14,807			10.7			—			—
Change in accounting methods^(c)		(3,383	)		(2.4	)		(893	)		(0.6	)		—			—
Stock based compensation, excess tax benefits^(d)		(1,648	)		(1.2	)		(2,254	)		(1.6	)		(1,878	)		(1.7	)
U.S. tax credits		(1,324	)		(0.9	)		(1,204	)		(0.9	)		(1,100	)		(1.0	)
Non-deductible expenses and other items, net^(e)		(204	)		(0.3	)		(182	)		(0.1	)		(5	)		0.2
Total income tax provision	$	27,173			19.4		$	47,690			34.3		$	27,618			24.3

(a)	Includes cost of global intangible low-taxed income (GILTI) in 2018 and withholding taxes paid on cash repatriated from foreign countries.

(b)	Does not include state tax impacts, which are included in state income tax provision, less applicable federal tax benefit.

(c)	For 2018, amount represents the federal tax rate change due to certain accounting methods that were adopted on the 2017 federal income tax return. For 2017, amount represents an accounting method change for depreciation.

(d)	Excess tax benefits related to employee share-based payment transactions recognized in 2018, 2017 and 2016 resulting from the adoption of ASU No. 2016-9.

(e)	Certain 2016 amounts have been reclassified to conform to the 2017 and 2018 presentation.

Schedule Showing Tax Effects of Significant Temporary Differences Representing Deferred Tax Assets and Liabilities

At December 31, 2018 and 2017, the tax effects of significant temporary differences representing deferred tax assets and liabilities were as follows:

(In thousands)	2018			2017
Deferred Tax Liabilities:
Depreciation	$	(57,665	)	$	(51,244	)
Unrealized foreign exchange loss		(980	)		(734	)
Amortization of intangibles		(1,016	)		(1,420	)
Inventories		(725	)		—
Other		(301	)		(646	)
	$	(60,687	)	$	(54,044	)
Deferred Tax Assets:
Pensions	$	7,971		$	7,884
Deferred revenue		208			232
Other accruals and reserves		13,123			13,660
Inventories		—			1,182
Legal and environmental accruals		7,143			7,243
Deferred compensation		14,214			15,402
Bad debt and rebate reserves		2,916			2,865
Non-U.S. subsidiaries net operating loss carryforwards		3,869			2,657
Tax credit carryforwards		2,141			1,851
	$	51,585		$	52,976
Valuation Allowance	$	(3,701	)	$	(2,255	)
Net Deferred Tax Liabilities	$	(12,803	)	$	(3,323	)
Reconciliation to Consolidated Balance Sheet:
Non-current deferred tax assets (in other non-current assets)		5,869			7,639
Non-current deferred tax liabilities		(18,672	)		(10,962	)
Net Deferred Tax (Liabilities) Assets	$	(12,803	)	$	(3,323	)

Schedule of Reconciliations of Unrecognized Tax Benefits

Below are reconciliations of the January 1 and December 31 balances of unrecognized tax benefits for 2018, 2017 and 2016:

(In thousands)	2018			2017			2016
Unrecognized tax benefits, opening balance	$	1,927		$	1,931		$	1,958
Gross increases – tax positions in prior period		29			—			—
Gross increases – current period tax positions		26			20			35
Foreign currency translation		1			69			(43	)
Settlement		(1,526	)		—			—
Lapse of statute of limitations		(289	)		(93	)		(19	)
Unrecognized tax benefits, ending balance	$	168		$	1,927		$	1,931

Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Fair Value Assumptions for Stock Options

The following are the weighted-average assumptions used to calculate the grant-date fair values of stock option awards granted in the years ended December 31, 2018, 2017 and 2016:

	For the Years Ended December 31
	2018	2017	2016
Expected dividend yield	1.34%	1.39%	1.45%
Expected volatility	27.41%	30.01%	35.62%
Expected term	7.3 years	7.2 years	7.3 years
Risk-free interest rate	2.88%	2.22%	1.52%

Summary of Stock Option Activity

A summary of stock option activity for the year ended December 31, 2018 is presented below:

	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value ($000)
Options
Outstanding at January 1, 2018		391,805		$	52.09
Granted		77,038			73.08
Exercised		(97,471	)		42.71
Forfeited		(9,829	)		61.79
Outstanding at December 31, 2018		361,543			58.83		6.73	$	5,485
Vested or expected to vest at December 31, 2018		352,436			58.38		6.68		5,506
Exercisable at December 31, 2018		268,545			53.17		6.05		5,592

Summary of Stock Award Activity

A summary of stock award activity for the year ended December 31, 2018, is presented below:

	Shares			Weighted-Average Grant Date Fair Value
Stock Awards
Unvested at January 1, 2018		169,033		$	49.48
Granted		54,055			72.06
Vested		(119,501	)		41.88
Forfeited		(18,217	)		53.05
Unvested at December 31, 2018		85,370			73.65

Summary of SARs Activity

The following is a summary of SARs activity for the year ended December 31, 2018:

	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value ($000)
SARs
Outstanding at January 1, 2018		616,650		$	55.23
Granted		171,131			73.11
Exercised		(117,942	)		49.68
Forfeited		(30,693	)		63.66
Outstanding at December 31, 2018		639,146			60.64		7.10	$	8,430

Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2018

Obligations and Funded Status

Obligations and Funded Status at December 31

(In thousands)	United States						United Kingdom
	2018			2017			2018			2017
Change in benefit obligation
Benefit obligation at beginning of year	$	171,358		$	162,727		$	24,048		$	22,034
Interest cost		6,194			6,651			565			592
Actuarial (gain) loss		(11,494	)		9,109			(2,129	)		(156	)
Benefits paid		(7,464	)		(7,129	)		(1,255	)		(516	)
Foreign exchange impact		—			—			(1,223	)		2,094
Benefit obligation at end of year	$	158,594		$	171,358		$	20,006		$	24,048

(In thousands)	United States						United Kingdom
	2018			2017			2018			2017
Change in plan assets
Fair value of plan assets at beginning of year	$	147,908		$	137,092		$	24,168		$	20,336
Actual return (loss) on plan assets		(11,558	)		15,533			(1,583	)		1,957
Employer contributions		5,312			2,412			494			365
Benefits paid		(7,464	)		(7,129	)		(1,254	)		(516	)
Foreign exchange impact		—			—			(1,249	)		2,026
Fair value of plan assets at end of year	$	134,198		$	147,908		$	20,576		$	24,168

Over (Under) funded status at end of year	$	(24,396	)	$	(23,450	)	$	570		$	120

Schedule of Amounts Recognized in Balance Sheets

The amounts recognized in the consolidated balance sheets at December 31 consisted of:

(In thousands)	United States						United Kingdom
	2018			2017			2018		2017
Non-current asset	$	—		$	—		$	570	$	120
Current liability		(302	)		(302	)		—		—
Non-current liability		(24,094	)		(23,148	)		—		—
Net amount recognized	$	(24,396	)	$	(23,450	)	$	570	$	120

Amounts Recognized in Accumulated Other Comprehensive Income

The amounts recognized in accumulated other comprehensive income at December 31 consisted of:

(In thousands)	United States				United Kingdom
	2018		2017		2018		2017
Net actuarial loss	$	45,334	$	39,801	$	5,849	$	5,743

Information for Pension Plans with Projected Benefit Obligations in Excess of Plan Assets

Below is information for pension plans with projected benefit obligations in excess of plan assets at December 31:

(In thousands)	United States				United Kingdom
	2018		2017		2018		2017
Projected benefit obligation	$	158,594	$	171,358	$	—	$	—
Accumulated benefit obligation		158,594		171,358		—		—
Fair value of plan assets		134,198		147,908		—		—

Components of Net Periodic Benefit Cost

Net periodic benefit costs for the years ended December 31, 2018, 2017 and 2016, were as follows:

(In thousands)	United States									United Kingdom
	2018			2017			2016			2018			2017			2016
Interest cost	$	6,194		$	6,651		$	6,934		$	565		$	592		$	733
Expected return on plan assets		(9,284	)		(9,288	)		(9,012	)		(885	)		(797	)		(900	)
Amortization of net actuarial loss		3,814			3,085			3,386			219			382			77
Net periodic benefit cost	$	724		$	448		$	1,308		$	(101	)	$	177		$	(90	)

Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income

Other changes in plan assets and benefit obligations recognized in other comprehensive income for the years ended December 31, 2018, 2017 and 2016, were as follows:

(In thousands)	United States									United Kingdom
	2018			2017			2016			2018			2017			2016
Net actuarial (gain) loss	$	9,348		$	2,864		$	(11,062	)	$	325		$	(1,318	)	$	3,756
Amortization of net actuarial loss		(3,814	)		(3,085	)		(3,386	)		(219	)		(382	)		(77	)
Total recognized in other comprehensive income	$	5,534		$	(221	)	$	(14,448	)	$	106		$	(1,700	)	$	3,679
Total recognized in net periodic benefit cost and other comprehensive income	$	6,258		$	227		$	(13,140	)	$	5		$	(1,523	)	$	3,589

Estimated Amounts Reclassified from Accumulated Other Comprehensive Income into Net Periodic Benefit Cost

The estimated amounts that will be reclassified from accumulated other comprehensive income into net periodic benefit cost in 2019 are as follows:

(In thousands)

United

States

United

Kingdom

Net actuarial loss

2,609

244

Estimated Future Benefit Payments

(In thousands)	United States		United Kingdom
2019	$	8,009	$	482
2020		8,443		487
2021		8,954		509
2022		9,438		553
2023		9,836		592
2024-2028		51,998		3,557

Defined Contribution Plan Expenses for Company's Retirement Savings Plans and Profit Sharing Plan

Defined contribution expenses for the Company’s qualified defined contribution plans were as follows:

(In thousands)	2018		2017		2016
Retirement contributions	$	7,617	$	4,998	$	4,902
Profit sharing contributions		4,182		7,002		6,230
Total	$	11,799	$	12,000	$	11,132

United States [Member]

Company's Asset Allocations for its U.S. and U.K Pension Plans

The Company’s asset allocations for its U.S. pension plans at December 31, 2018 and 2017, by asset category, were as follows:

	December 31, 2018
(In thousands)	Level 1		Level 2		Level 3		Total
Cash and Cash Equivalents	$	4,935	$	—	$	—	$	4,935
Equity Securities
U.S. Equities		34,751		—		—		34,751
Non-U.S. Equities		27,415		—		—		27,415
Employer Securities		22,063		—		—		22,063
Total Equities		84,229		—		—		84,229
Fixed Income Securities
U.S. Corporate Bonds		—		29,659		—		29,659
U.S. Government and Agency Bonds		6,314		3,139		—		9,453
Other Bonds		—		5,922		—		5,922
Total Fixed Income		6,314		38,720		—		45,034
Total	$	95,478	$	38,720	$	—	$	134,198

	December 31, 2017
(In thousands)	Level 1		Level 2		Level 3		Total
Cash and Cash Equivalents	$	4,903	$	—	$	—	$	4,903
Equity Securities
U.S. Equities		37,753		—		—		37,753
Non-U.S. Equities		31,581		47		—		31,628
Employer Securities		30,197		—		—		30,197
Total Equities		99,531		47		—		99,578
Fixed Income Securities
U.S. Corporate Bonds		—		28,744		—		28,744
U.S. Government and Agency Bonds		5,545		1,045		—		6,590
Other Bonds		—		8,093		—		8,093
Total Fixed Income		5,545		37,882		—		43,427
Total	$	109,979	$	37,929	$	—	$	147,908

United Kingdom [Member]

Company's Asset Allocations for its U.S. and U.K Pension Plans

The Company’s asset allocations for its U.K. pension plans at December 31, 2018 and 2017, by asset category, were as follows:

	December 31, 2018
(In thousands)	Level 1		Level 2		Level 3		Total
Cash	$	205	$	—	$	—	$	205
Equity Securities
Pooled Pension Funds		—		12,750		—		12,750
Fixed Income
Pooled Pension Funds		—		6,378		—		6,378
Real Estate
Pooled Pension Funds		—		—		—		—
Insurance Contracts		—		—		1,243		1,243
Total	$	205	$	19,128	$	1,243	$	20,576

	December 31, 2017
(In thousands)	Level 1		Level 2		Level 3		Total
Cash	$	745	$	—	$	—	$	745
Equity Securities
Pooled Pension Funds		—		14,127		—		14,127
Fixed Income
Pooled Pension Funds		—		6,952		—		6,952
Real Estate
Pooled Pension Funds		—		646		—		646
Insurance Contracts		—		—		1,698		1,698
Total	$	745	$	21,725	$	1,698	$	24,168

Fair Value Changes within Asset Categories for which Fair Value Measurements Use Significant Unobservable Inputs (Level 3) Defined Benefit United States Plans and United Kingdom Plans

Fair value changes within asset categories for which fair value measurements use significant unobservable inputs (Level 3) were as follows during 2017 and 2018:

(In thousands)	Insurance Contracts
Fair value, December 31, 2016	$	1,759
Sale proceeds (benefit payments)		(134	)
Change in unrealized gain		(84	)
Foreign exchange impact		157
Fair value, December 31, 2017	$	1,698
Sale proceeds (benefit payments)		(129	)
Change in unrealized gain		(247	)
Foreign exchange impact		(79	)
Fair value, December 31, 2018	$	1,243

Defined Benefit Plan Periodic Costs [Member]

Weighted-Average Assumptions Used to Determine Benefit Obligations/Net Periodic Benefit Costs

The weighted-average assumptions used to determine net periodic benefit costs for years ended December 31 were as follows:

	United States									United Kingdom
	2018			2017			2016			2018			2017			2016
Discount rate		3.67	%		4.17	%		4.39	%		2.40	%		2.60	%		4.00	%
Expected long-term return on plan assets		6.75	%		7.00	%		7.00	%		3.71	%		3.77	%		4.59	%

Benefit Obligation [Member]

Weighted-Average Assumptions Used to Determine Benefit Obligations/Net Periodic Benefit Costs

The weighted-average assumptions used to determine benefit obligations at December 31 were as follows:

	United States						United Kingdom
	2018			2017			2018			2017
Discount rate		4.30	%		3.67	%		2.80	%		2.40	%

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Payables And Accruals [Abstract]

Composition of Accrued Liabilities

The composition of accrued liabilities was as follows:

	December 31
(In thousands)	2018		2017
Accrued payroll and benefits	$	53,782	$	58,877
Accrued customer rebates		24,833		16,729
Other accrued liabilities		16,955		17,170
Total accrued liabilities	$	95,570	$	92,776

Other Non-Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Other Liabilities Disclosure [Abstract]

Composition of Other Non-Current Liabilities

The composition of other non-current liabilities was as follows:

	December 31
(In thousands)	2018		2017
Deferred revenue	$	1,215	$	1,539
Environmental and legal matters		20,404		21,888
Deferred compensation liability		43,819		51,890
Pension liability		26,722		25,632
Other non-current liabilities		11,704		29,484
Total other non-current liabilities	$	103,864	$	130,433

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Operating Segment

The following is segment data for the three years ended December 31, 2018, 2017 and 2016:

(In thousands)	Surfactants		Polymers		Specialty Products		Segment Totals
2018
Net sales	$	1,385,932	$	527,420	$	80,505	$	1,993,857
Operating income		137,506		64,539		11,661		213,706
Assets		850,553		351,690		82,957		1,285,200
Capital expenditures		51,543		26,663		6,192		84,398
Depreciation and amortization expenses		50,514		23,253		5,150		78,917

2017
Net sales	$	1,297,555	$	546,634	$	80,818	$	1,925,007
Operating income ^(a)		120,861		82,951		9,965		213,777
Assets		881,415		355,065		75,452		1,311,932
Capital expenditures		50,400		21,146		4,234		75,780
Depreciation and amortization expenses		49,102		22,998		5,019		77,119

2016
Net sales	$	1,181,563	$	498,826	$	85,777	$	1,766,166
Operating income ^(a)		101,092		97,102		10,725		208,919
Assets		831,324		301,890		75,483		1,208,697
Capital expenditures		64,121		31,890		4,194		100,205
Depreciation and amortization expenses		48,643		20,275		4,204		73,122

Reconciliation of Segment Information to Consolidated Financial Statements

Below are reconciliations of segment data to the consolidated financial statements:

(In thousands)	2018			2017			2016
Operating income - segment totals ^(a)	$	213,706		$	213,777		$	208,919
Business restructuring and asset impairments ^(b)		(2,588	)		(3,069	)		(7,064	)
Unallocated corporate expenses ^(c)		(59,699	)		(63,513	)		(74,025	)
Total operating income		151,419			147,195			127,830
Interest expense, net		(10,771	)		(11,444	)		(13,205	)
Other, net ^(a)		(725	)		3,486			(809	)
Consolidated income before income taxes	$	139,923		$	139,237		$	113,816

Assets - segment totals	$	1,285,200		$	1,311,932		$	1,208,697
Unallocated corporate assets ^(d)		199,466			158,929			145,193
Consolidated assets	$	1,484,666		$	1,470,861		$	1,353,890

Capital expenditures - segment totals	$	84,398		$	75,780		$	100,205
Unallocated corporate expenditures		2,249			2,833			2,871
Consolidated capital expenditures	$	86,647		$	78,613		$	103,076

Depreciation and amortization expenses – segment totals	$	78,917		$	77,119		$	73,122
Unallocated corporate depreciation expenses		2,198			1,903			1,845
Consolidated depreciation and amortization expenses	$	81,115		$	79,022		$	74,967

(a)

(b)

See Note 22 regarding business restructuring and asset impairment costs.

(c)

(d)

The changes in unallocated corporate assets between 2018, 2017 and 2016 were primarily attributable to changes in the balance of U.S. cash and cash equivalents, which are not allocated to segments.

Summary of company-wide geographic data

Below is certain Company-wide geographic data for the years ended December 31, 2018, 2017 and 2016:

(In thousands)	2018		2017		2016
Net sales ^(a)
United States	$	1,193,938	$	1,159,578	$	1,076,259
France		171,010		176,052		151,031
Poland		170,474		188,244		153,986
United Kingdom		105,732		99,069		86,458
Brazil		100,328		109,960		74,961
All other countries		252,375		192,104		223,471
Total	$	1,993,857	$	1,925,007	$	1,766,166

Long-lived assets ^(b)
United States	$	427,274	$	420,342	$	411,023
Germany		29,151		29,116		27,475
Singapore		30,838		33,530		36,270
Brazil		48,427		55,974		58,106
China		29,030		30,849		29,508
United Kingdom		20,225		21,657		20,309
All other countries		61,145		50,631		47,670
Total	$	646,090	$	642,099	$	630,361

(a)

Net sales are attributed to countries based on the location of the Company facility making the sales.

(b)

Includes net property, plant and equipment, goodwill and other intangible assets.

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

Below is the computation of basic and diluted earnings per share for the years ended December 31, 2018, 2017 and 2016.

(In thousands, except per share amounts)	2018		2017		2016
Computation of Basic Earnings per Share
Net income attributable to Stepan Company	$	112,762	$	91,578	$	86,191
Weighted-average number of shares outstanding		23,022		22,946		22,793
Basic earnings per share	$	4.90	$	3.99	$	3.78
Computation of Diluted Earnings per Share
Net income attributable to Stepan Company	$	112,762	$	91,578	$	86,191
Weighted-average number of shares outstanding		23,022		22,946		22,793
Add weighted-average net shares from assumed exercise of options (under treasury share method) ^(a)		101		161		159
Add weighted-average net shares related to unvested stock awards (under treasury share method)		3		8		6
Add weighted-average net shares from assumed exercise of SARs (under treasury share method)		110		142		68
Add weighted-average contingently issuable net shares related to performance stock awards (under treasury share method)		89		120		68
Weighted-average shares applicable to diluted earnings		23,325		23,377		23,094
Diluted earnings per share	$	4.83	$	3.92	$	3.73

(a)

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Summary of Changes in Accumulated Other Comprehensive Income (Loss)

Below is the change in the Company’s accumulated other comprehensive income (loss) (AOCI) balance by component (net of income taxes) for the years ended December 31, 2018, 2017 and 2016:

(In thousands)	Foreign Currency Translation Adjustments			Defined Benefit Pension Plan Adjustments			Cash Flow Hedge Adjustments			Total

Balance at December 31, 2015	$	(88,337	)	$	(36,825	)	$	74		$	(125,088	)

Other comprehensive income before reclassifications		(8,438	)		3,818			(19	)		(4,639	)

Amounts reclassified from AOCI		—			2,217			45			2,262

Net current period other comprehensive income		(8,438	)		6,035			26			(2,377	)

Balance at December 31, 2016	$	(96,775	)	$	(30,790	)	$	100		$	(127,465	)

Other comprehensive income before reclassifications		26,214			(582	)		—			25,632

Amounts reclassified from AOCI		—			2,279			(9	)		2,270

Net current period other comprehensive income		26,214			1,697			(9	)		27,902

Balance at December 31, 2017	$	(70,561	)	$	(29,093	)	$	91		$	(99,563	)

Other comprehensive income before reclassifications		(37,920	)		(7,080	)		—			(45,000	)

Amounts reclassified from AOCI		—			3,090			(10	)		3,080
Net current period other comprehensive income		(37,920	)		(3,990	)		(10	)		(41,920	)

Balance at December 31, 2018	$	(108,481	)	$	(33,083	)	$	81		$	(141,483	)

Summary of Amounts Reclassified Out of Accumulated Other Comprehensive Income

Amounts reclassified out of AOCI for the three years ended December 31, 2018, 2017 and 2016, is displayed below:

	Amounts Reclassified from AOCI ^(a)
(In thousands)										Affected Line Item in Consolidated
	2018			2017			2016			Statements of Income
Amortization of defined pension items:
Prior service cost	$	(12	)	$	(14	)	$	(14	)
Actuarial loss		(4,059	)		(3,509	)		(3,508	)
	$	(4,071	)		(3,523	)		(3,522	)	Total before tax ^(b)
		981			1,244			1,305		Tax benefit
	$	(3,090	)	$	(2,279	)	$	(2,217	)	Net of tax

Gains and losses on cash flow hedges:
Interest rate contracts	$	—		$	—		$	(82	)	Interest, net
Foreign exchange contracts		10			9			9		Cost of sales
		10			9			(73	)	Total before tax
					—			28		Tax benefit
	$	10		$	9		$	(45	)	Net of tax
Total reclassifications for the period	$	(3,080	)	$	(2,270	)	$	(2,262	)	Net of tax

(a)

Amounts in parentheses denote expense to statement of income.

(b)

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2018

2018 Acquisition [Member]

Summary of Assets Acquired and Liabilities Assumed

The following table summarizes the assets acquired as a result of the acquisition:


(In thousands)
Assets:
Property, plant and equipment	$	14,464
Inventory		5,687
Other Receivable		2,701
Total assets acquired	$	22,852

2016 Acquisition [Member]

Summary of Assets Acquired and Liabilities Assumed

The following table summarizes the assets acquired and liabilities assumed:

(In thousands)
Assets:
Current assets	$	5,165
Property, plant and equipment		5,716
Identifiable intangible assets		7,354
Goodwill		14,207
Total assets acquired	$	32,442

Liabilities:
Current liabilities	$	408
Deferred tax liability		3,079
Total liabilities assumed	$	3,487
Net assets acquired	$	28,955

Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2018

Revenue From Contract With Customer [Abstract]

Geographic Disaggregation of Net Sales

	2018
(In thousands)	Surfactants		Polymers		Specialty Products		Total
Geographic Market
North America	$	831,592	$	323,360	$	68,201	$	1,223,153
Europe		276,742		172,632		12,304		461,678
Latin America		212,824		3,463		—		216,287
Asia		64,774		27,965		—		92,739
Total	$	1,385,932	$	527,420	$	80,505	$	1,993,857

	2017
(In thousands)	Surfactants		Polymers		Specialty Products		Total
Geographic Market
North America	$	763,044	$	329,629	$	66,906		1,159,579
Europe		275,121		188,244		13,912		477,277
Latin America		190,802		4,451		—		195,253
Asia		68,588		24,310		—		92,898
Total	$	1,297,555	$	546,634	$	80,818	$	1,925,007

	2016
(In thousands)	Surfactants		Polymers		Specialty Products		Total
Geographic Market
North America	$	724,619	$	319,769	$	69,701		1,114,089
Europe		237,489		153,986		16,076		407,551
Latin America		151,229		4,640		—		155,869
Asia		68,226		20,431		—		88,657
Total	$	1,181,563	$	498,826	$	85,777	$	1,766,166

Business Restructuring and Asset Impairments (Tables)

12 Months Ended

Dec. 31, 2018

2016 Restructuring [Member] | Longford Mills [Member]

Restructuring Cost And Reserve [Line Items]

Reconciliation of Restructuring Liability

Below is a reconciliation of the beginning and ending balances of the Longford Mills restructuring liability:

(In thousands)	Termination Benefits			Other Expense			Total
Restructuring liability at January 1, 2017	$	1,548		$	437		$	1,985
Expense recognized		-			2,022			2,022
Amounts paid		(1,012	)		(2,377	)		(3,389	)
Foreign currency translation		56			17			73
Restructuring liability at December 31, 2017	$	592		$	99		$	691
Expense recognized		-			1,185			1,185
Amounts paid		(312	)		(1,194	)		(1,506	)
Foreign currency translation		(20	)		(7	)		(27	)
Restructuring liability at December 31, 2018	$	260		$	83		$	343

Selected Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data

	2018
Quarter	First			Second			Third			Fourth			Year
Net Sales	$	499,335		$	519,866		$	507,997		$	466,659		$	1,993,857
Gross Profit		89,570			89,280			84,125			78,528			341,503
Operating Income		39,655			44,685			27,694			39,385			151,419
Interest, net		(3,151	)		(2,672	)		(2,797	)		(2,151	)		(10,771	)
Income Before Income Taxes		37,664			42,497			25,243			34,519			139,923
Net Income		30,716			32,923			22,168			26,943			112,750
Net Income Attributable to Stepan Company		30,723			32,925			22,168			26,946			112,762
Per Diluted Share		1.31			1.41			0.95			1.16			4.83

	2017
Quarter	First			Second			Third			Fourth			Year
Net Sales	$	468,269		$	495,101		$	487,814		$	473,823		$	1,925,007
Gross Profit ^(a)		92,119			89,988			75,576			80,839			338,522
Operating Income ^(a)		46,230			39,133			30,434			31,398			147,195
Interest, net		(2,992	)		(2,863	)		(2,763	)		(2,826	)		(11,444	)
Income Before Income Taxes		44,330			37,063			29,312			28,532			139,237
Net Income		31,912			27,896			21,853			9,886			91,547
Net Income Attributable to Stepan Company		31,913			27,882			21,899			9,884			91,578
Per Diluted Share		1.37			1.19			0.94			0.42			3.92

(a)

Summary of Significant Accounting Policies - Additional Information (Detail) MMBTU in Millions	12 Months Ended
	Dec. 31, 2018 USD ($) MMBTU Customer Subsidiary	Dec. 31, 2017 USD ($) Customer	Dec. 31, 2016 USD ($) Customer	Mar. 31, 2019 USD ($)
Summary Of Significant Accounting Policy [Line Items]
Cash and cash equivalents	$ 300,194,000	$ 298,894,000
Single customer comprised more than 10 percent of the Company's consolidated net sales \| Customer	0	0	0
Percentage of LIFO Inventory	68.00%	69.00%
Cost of maintenance and repairs	$ 57,010,000	$ 51,926,000	$ 51,530,000
Total research and development expenses	$ 33,519,000	$ 33,169,000	$ 34,856,000
Capitalized Environmental expenditures depreciation period	10 years
Indefinite-life intangible assets	$ 0
Number of foreign subsidiaries \| Subsidiary	2
Reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from Tax Act	$ 5,300,000
Accounting Standards Update 2016-02, Leases [Member] \| Scenario Forecast [Member]
Summary Of Significant Accounting Policy [Line Items]
Right-of-use asset				$ 42,000,000
Lease liabilities				$ 42,000,000
Natural Gas [Member]
Summary Of Significant Accounting Policy [Line Items]
Volume in derivative contract \| MMBTU	0.9
Purchased Contract Price	$ 2,442,573
Non-compete Agreements [Member]
Summary Of Significant Accounting Policy [Line Items]
Finite-lived intangible asset, useful life	5 years
Trademarks [Member]
Summary Of Significant Accounting Policy [Line Items]
Finite-lived intangible asset, useful life	11 years
Supply contracts [Member]
Summary Of Significant Accounting Policy [Line Items]
Finite-lived intangible asset, useful life	4 years
Know-how [Member]
Summary Of Significant Accounting Policy [Line Items]
Finite-lived intangible asset, useful life	8 years
Building [Member]
Summary Of Significant Accounting Policy [Line Items]
Lives used for calculating depreciation expense	30 years
Building Improvements [Member]
Summary Of Significant Accounting Policy [Line Items]
Lives used for calculating depreciation expense	15 years
Minimum [Member]
Summary Of Significant Accounting Policy [Line Items]
Percentage of Tax benefit recognized	50.00%
Minimum [Member] \| Patents [Member]
Summary Of Significant Accounting Policy [Line Items]
Finite-lived intangible asset, useful life	10 years
Minimum [Member] \| Customer Relationships [Member]
Summary Of Significant Accounting Policy [Line Items]
Finite-lived intangible asset, useful life	10 years
Minimum [Member] \| Manufacturing Equipment [Member]
Summary Of Significant Accounting Policy [Line Items]
Lives used for calculating depreciation expense	10 years
Minimum [Member] \| Furniture and Fixtures [Member]
Summary Of Significant Accounting Policy [Line Items]
Lives used for calculating depreciation expense	5 years
Minimum [Member] \| Vehicles [Member]
Summary Of Significant Accounting Policy [Line Items]
Lives used for calculating depreciation expense	3 years
Minimum [Member] \| Computers Equipment And Software [Member]
Summary Of Significant Accounting Policy [Line Items]
Lives used for calculating depreciation expense	3 years
Maximum [Member] \| Patents [Member]
Summary Of Significant Accounting Policy [Line Items]
Finite-lived intangible asset, useful life	15 years
Maximum [Member] \| Customer Relationships [Member]
Summary Of Significant Accounting Policy [Line Items]
Finite-lived intangible asset, useful life	13 years
Maximum [Member] \| Manufacturing Equipment [Member]
Summary Of Significant Accounting Policy [Line Items]
Lives used for calculating depreciation expense	15 years
Maximum [Member] \| Furniture and Fixtures [Member]
Summary Of Significant Accounting Policy [Line Items]
Lives used for calculating depreciation expense	10 years
Maximum [Member] \| Vehicles [Member]
Summary Of Significant Accounting Policy [Line Items]
Lives used for calculating depreciation expense	5 years
Maximum [Member] \| Computers Equipment And Software [Member]
Summary Of Significant Accounting Policy [Line Items]
Lives used for calculating depreciation expense	10 years
Money Market Funds [Member]
Summary Of Significant Accounting Policy [Line Items]
Cash and cash equivalents	$ 141,600,000
Demand Deposits [Member]
Summary Of Significant Accounting Policy [Line Items]
Cash and cash equivalents	61,000,000
Non-U.S. Subsidiaries [Member]
Summary Of Significant Accounting Policy [Line Items]
Cash and cash equivalents	$ 97,600,000
Nanjing Stepan Jinling Chemical Limited Liability Company [Member]
Summary Of Significant Accounting Policy [Line Items]
Ownership percentage	80.00%

Summary of Significant Accounting Policies - Allowance for Doubtful Accounts and Other Accounts Receivable Allowances (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance For Doubtful Accounts Receivable Rollforward
Allowance, balance at the beginning	$ 10,116	$ 9,755	$ 8,046
Provision charged to income	764	45	1,917
Accounts written off, net of recoveries	(1,226)	316	(208)
Allowance, balance at ending	$ 9,654	$ 10,116	$ 9,755

Fair Value Measurements - Additional Information (Detail) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Unamortized debt issuance cost	$ 978,000	$ 987,000

Fair Value Measurements - Fair Values and Related Carrying Values of Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Carrying value	$ 277,058	$ 291,786
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value	$ 274,119	$ 293,272

Fair Value Measurements - Financial Assets and Liabilities Measured on a Recurring Basis at Fair Value (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Mutual fund assets	$ 25,082	$ 28,270
Derivative assets:
Foreign currency contracts	185	335
Total assets at fair value	25,267	28,605
Derivative liabilities:
Foreign currency contracts	10	94
Total liabilities at fair value	10	94
Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Mutual fund assets	25,082	28,270
Derivative assets:
Total assets at fair value	25,082	28,270
Level 2 [Member]
Derivative assets:
Foreign currency contracts	185	335
Total assets at fair value	185	335
Derivative liabilities:
Foreign currency contracts	10	94
Total liabilities at fair value	$ 10	$ 94

Derivative Instruments - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative notional amount	$ 28,870,081	$ 41,196,629
Minimum [Member]
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative foreign currency exchange contracts durations	1 month
Maximum [Member]
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative foreign currency exchange contracts durations	3 months

Goodwill and Other Intangible Assets - Schedule of Changes in Carrying Value of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 28,585	$ 28,775
Accumulated impairment loss, Beginning Balance	(3,467)	(3,467)
Goodwill net, Beginning Balance	25,118	25,308
Goodwill measurement period adjustment		(120)
Foreign currency translation	(2,164)	(70)
Goodwill, Ending Balance	26,421	28,585
Accumulated impairment loss, Ending Balance	(3,467)	(3,467)
Goodwill net, Ending Balance	22,954	25,118
Surfactants Segment [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	22,627	22,958
Accumulated impairment loss, Beginning Balance	(3,467)	(3,467)
Goodwill net, Beginning Balance	19,160	19,491
Goodwill measurement period adjustment		(120)
Foreign currency translation	(2,106)	(211)
Goodwill, Ending Balance	20,521	22,627
Accumulated impairment loss, Ending Balance	(3,467)	(3,467)
Goodwill net, Ending Balance	17,054	19,160
Polymer Segment [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	5,475	5,334
Goodwill net, Beginning Balance	5,475	5,334
Foreign currency translation	(58)	141
Goodwill, Ending Balance	5,417	5,475
Goodwill net, Ending Balance	5,417	5,475
Specialty Products Segment [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	483	483
Goodwill net, Beginning Balance	483	483
Goodwill, Ending Balance	483	483
Goodwill net, Ending Balance	$ 483	$ 483

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Impairment of Goodwill	$ 0	$ 0
Amortization of Intangible Assets, Total	$ 3,470,000	$ 3,711,000	$ 2,845,000

Goodwill and Other Intangible Assets - Components of Other Intangible Assets and Changes in Gross Carrying Values (Detail) - USD ($)
$ in Thousands

Dec. 31, 2018

Dec. 31, 2017

Other Finite-Lived Intangible Assets, Gross Carrying Value

$ 31,897

$ 34,156

Other Finite-Lived Intangible Assets, Accumulated Amortization

17,653

15,618

Patents [Member]

Other Finite-Lived Intangible Assets, Gross Carrying Value

6,947

Other Finite-Lived Intangible Assets, Accumulated Amortization

4,492

3,893

Non-compete Agreements [Member]

Other Finite-Lived Intangible Assets, Gross Carrying Value

387

453

Other Finite-Lived Intangible Assets, Accumulated Amortization

173

113

Trademarks [Member]

Other Finite-Lived Intangible Assets, Gross Carrying Value

3,800

4,087

Other Finite-Lived Intangible Assets, Accumulated Amortization

1,929

1,870

Customer Lists [Member]

Other Finite-Lived Intangible Assets, Gross Carrying Value

10,750

12,150

Other Finite-Lived Intangible Assets, Accumulated Amortization

4,356

4,299

Know-how [Member]

Other Finite-Lived Intangible Assets, Gross Carrying Value

^[1]

7,900

8,043

Other Finite-Lived Intangible Assets, Accumulated Amortization

^[1]

5,514

4,669

Supply Contract [Member]

Other Finite-Lived Intangible Assets, Gross Carrying Value

2,113

2,476

Other Finite-Lived Intangible Assets, Accumulated Amortization

$ 1,189

$ 774

[1]

Goodwill and Other Intangible Assets - Estimated Amortization Expense for Identifiable Intangibles Assets (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
For year ended 12/31/19	$ 3,428
For year ended 12/31/20	3,296
For year ended 12/31/21	1,967
For year ended 12/31/22	1,321
For year ended 12/31/23	$ 1,321

Inventories - Composition of Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Finished products	$ 141,900	$ 117,529
Raw materials	58,265	55,219
Total inventories	$ 200,165	$ 172,748

Inventories - Additional Information (Detail) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
LIFO reserve	$ 31,363,000	$ 33,518,000

Debt - Debt (Detail) - USD ($) $ in Thousands	12 Months Ended
Debt - Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total debt	$ 276,080	$ 290,799
Less current maturities	37,058	22,500
Long-term debt	239,022	268,299
Unsecured private placement 3.95% note [Member]
Debt Instrument [Line Items]
Total debt	$ 99,640	$ 99,654
Debt instrument interest rate percentage	3.95%	3.95%
Unsecured private placement 3.95% note [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Maturity Dates	2021	2021
Unsecured private placement 3.95% note [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Maturity Dates	2027	2027
Unsecured private placement 3.86% note [Member]
Debt Instrument [Line Items]
Total debt	$ 99,653	$ 99,657
Debt instrument interest rate percentage	3.86%	3.86%
Unsecured private placement 3.86% note [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Maturity Dates	2019	2019
Unsecured private placement 3.86% note [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Maturity Dates	2025	2025
Unsecured private placement 4.86% note [Member]
Debt Instrument [Line Items]
Total debt	$ 46,243	$ 55,523
Debt instrument interest rate percentage	4.86%	4.86%
Unsecured private placement 4.86% note [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Maturity Dates	2018	2018
Unsecured private placement 4.86% note [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Maturity Dates	2023	2023
Unsecured private placement 5.88% note [Member]
Debt Instrument [Line Items]
Total debt	$ 22,772	$ 28,476
Debt instrument interest rate percentage	5.88%	5.88%
Unsecured private placement 5.88% note [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Maturity Dates	2018	2018
Unsecured private placement 5.88% note [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Maturity Dates	2022	2022
Unsecured private placement 5.69% note [Member]
Debt Instrument [Line Items]
Total debt		$ 5,703
Debt instrument interest rate percentage	5.69%	5.69%
Maturity Dates	2018	2018
Debt of foreign subsidiaries Unsecured bank debt, foreign currency [Member]
Debt Instrument [Line Items]
Total debt	$ 7,772	$ 1,786
Maturity Dates	2019	2019

Debt - Debt (Parenthetical) (Detail) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Unamortized debt issuance cost	$ 978,000	$ 987,000
Unsecured private placement 3.95% note [Member]
Debt Instrument [Line Items]
Unamortized debt issuance cost	360,000	346,000
Unsecured private placement 3.86% note [Member]
Debt Instrument [Line Items]
Unamortized debt issuance cost	347,000	343,000
Unsecured private placement 4.86% note [Member]
Debt Instrument [Line Items]
Unamortized debt issuance cost	186,000	191,000
Unsecured private placement 5.88% note [Member]
Debt Instrument [Line Items]
Unamortized debt issuance cost	85,000	95,000
Unsecured private placement 5.69% note [Member]
Debt Instrument [Line Items]
Unamortized debt issuance cost	$ 0	$ 12,000

Debt - Additional Information (Detail) - USD ($)		12 Months Ended
Debt - Additional Information (Detail) - USD ($)	Jan. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Jan. 29, 2018
Debt Instrument [Line Items]
Total debt		$ 276,080,000	$ 290,799,000
Line of credit facility, Minimum maturity period			1 month
Line of credit facility, Maximum maturity period			6 months
Debt matures in 2019		37,058,000
Debt matures in 2020		29,286,000
Debt matures in 2021		43,572,000
Debt matures in 2022		43,573,000
Debt matures in 2023		37,857,000
Debt matures after 2023		85,712,000
Amount of repayments of long-term debt due in next year		29,286,000
Amount of repayments of foreign subsidiaries short-term debt due in next year		7,772,000
Minimum [Member]
Debt Instrument [Line Items]
Commitment fee percentage			0.15%
Minimum [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Spread rate			1.25%
Minimum [Member] \| Prime Rate [Member]
Debt Instrument [Line Items]
Spread rate			0.25%
Maximum [Member]
Debt Instrument [Line Items]
Commitment fee percentage			0.325%
Maximum [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Spread rate			1.875%
Maximum [Member] \| Prime Rate [Member]
Debt Instrument [Line Items]
Spread rate			0.875%
Unsecured Private Placement Notes [Member]
Debt Instrument [Line Items]
Total debt		$ 269,286,000
Maturity Dates		12 years
Debt instrument maturity dates description		The notes had original maturities of 12 years with mandatory amortization of principal beginning six years after issuance.
Unsecured Private Placement Notes [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt instrument interest rate percentage		3.86%
Unsecured Private Placement Notes [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument interest rate percentage		5.88%
Multi currency revolving credit agreement [Member]
Debt Instrument [Line Items]
Revolving credit agreement term	5 years
Revolving credit agreement	$ 350,000,000			$ 125,000,000
Credit agreement secured date	Jan. 30, 2023
Letters of Credit Outstanding		$ 4,725,000
Debt Outstanding		0
Unused Revolving credit		345,275,000
Unrestricted retained earnings		190,442,000	$ 190,495,000
Debt of foreign subsidiaries Unsecured bank debt and Term Loan, foreign currency [Member]
Debt Instrument [Line Items]
Total debt		$ 7,772,000

Debt - Schedule of Net Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Interest Income Expense Net [Abstract]
Interest expense									$ 13,360	$ 14,428	$ 15,240
Interest income									(1,829)	(2,075)	(1,247)
Interest expense net of interest income									11,531	12,353	13,993
Capitalized interest									(760)	(909)	(788)
Interest expense, net	$ 2,151	$ 2,797	$ 2,672	$ 3,151	$ 2,826	$ 2,763	$ 2,863	$ 2,992	$ 10,771	$ 11,444	$ 13,205

Leased Properties - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Leases [Abstract]
Total rental expense	$ 10,455,000	$ 10,807,000	$ 8,595,000

Leased Properties - Consolidated Company Minimum Future Rental Payments Under Operating Leases with Initial or Remaining Noncancelable Lease Terms in Excess of One Year (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 9,740
2020	8,294
2021	6,027
2022	5,242
2023	4,101
Subsequent to 2023	16,593
Total minimum future rental payments	$ 49,997

Other, Net - Other Net in Consolidated Statements of Income (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Other Nonoperating Income Expense [Abstract]

Foreign exchange gains (losses)

$ 1,902

$ (646)

$ (14)

Investment income

1,554

989

690

Realized and unrealized gains(losses) on investments

(2,966)

4,178

152

Net periodic benefit cost

(1,215)

(1,035)

(1,637)

Other, net

^[1]

$ (725)

$ 3,486

$ (809)

[1]

Income Taxes - Schedule of Provision for Taxes on Income and Other Related Income Before Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Federal
Current									$ (296)	$ 32,299	$ 18,811
Deferred									9,314	(1,744)	(3,192)
State
Current									2,095	1,764	2,273
Deferred									1,892	192	(1,171)
Foreign
Current									14,510	13,077	14,960
Deferred									(342)	2,102	(4,063)
Total									27,173	47,690	27,618
Income before Taxes
Domestic									88,522	72,662	64,675
Foreign									51,401	66,575	49,141
Income Before Provision for Income Taxes	$ 34,519	$ 25,243	$ 42,497	$ 37,664	$ 28,532	$ 29,312	$ 37,063	$ 44,330	$ 139,923	$ 139,237	$ 113,816

Income Taxes - Summary of Variations Between the Effective and Statutory U.S. Federal Income Tax Rates (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Federal income tax provision at statutory tax rate

$ 29,384

$ 48,733

$ 39,836

State income tax provision, less applicable federal tax benefit

3,150

1,271

716

Foreign income taxed at different rates

864

(8,075)

(6,325)

U.S. taxation of foreign earnings

^[1]

2,348

(1,054)

Unrecognized tax benefits

(460)

(47)

Domestic production activities deduction

(1,339)

(1,633)

Nontaxable foreign interest income

(1,179)

(2,073)

(2,030)

U.S. tax reform, net impact

^[2]

(375)

14,807

Change in accounting methods

^[3]

(3,383)

(893)

Stock based compensation, excess tax benefits

^[4]

(1,648)

(2,254)

(1,878)

U.S. tax credits

(1,324)

(1,204)

(1,100)

Non-deductible expenses and other items, net

^[5]

(204)

(182)

(5)

Total

$ 27,173

$ 47,690

$ 27,618

Percentage of Federal income tax provision at statutory tax rate

21.00%

35.00%

Percentage of state income tax provision, less applicable federal tax benefit

2.30%

0.90%

0.60%

Percentage of Foreign income taxed at different rates

0.60%

(5.80%)

(5.60%)

Percentage of U.S. taxation of foreign earnings

^[1]

1.70%

(0.80%)

Percentage of Unrecognized tax benefits

(0.30%)

Percentage of Domestic production activities deduction

(1.00%)

(1.40%)

Percentage of Nontaxable foreign interest income

(0.80%)

(1.50%)

(1.80%)

Percentage of U.S. tax reform, net impact

^[2]

(0.30%)

10.70%

Percentage of Change in accounting methods

^[3]

(2.40%)

(0.60%)

Percentage of stock based compensation, excess tax benefits

^[4]

(1.20%)

(1.60%)

(1.70%)

Percentage of U.S. tax credits

(0.90%)

(1.00%)

Non-deductible expenses and other items, net

^[5]

(0.30%)

(0.10%)

0.20%

Percentage of Total income tax provision

19.40%

34.30%

24.30%

[1]	Includes cost of global intangible low-taxed income (GILTI) in 2018 and withholding taxes paid on cash repatriated from foreign countries.
[2]	Does not include state tax impacts, which are included in state income tax provision, less applicable federal tax benefit.
[3]	For 2018, amount represents the federal tax rate change due to certain accounting methods that were adopted on the 2017 federal income tax return. For 2017, amount represents an accounting method change for depreciation.
[4]	Excess tax benefits related to employee share-based payment transactions recognized in 2018, 2017 and 2016 resulting from the adoption of ASU No. 2016-9.
[5]	Certain 2016 amounts have been reclassified to conform to the 2017 and 2018 presentation.

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax [Line Items]
Net operating losses percentage	80.00%
Transition tax unrepatriated earnings foreign subsidiaries payable period	8 years
Income tax expense	$ 19,000,000
Favorable measurement-period adjustment to income tax expense	$ 5,200,000
Measurement-period adjustment reduction of rate	3.70%
Foreign earnings repatriated	$ 100,000,000
Additional income tax expense	$ 1,800,000
Increase in effective tax rate	1.30%
Corporate tax rate	21.00%	35.00%	35.00%
Deferred income tax benefit		$ 4,500,000
Tax cuts and jobs act of 2017 deferred income tax expense benefit	$ 9,700,000
Deduction percent of qualified property	100.00%
Depreciation phased out percentage	20.00%
Estimated expenditure on qualified property	$ 11,500,000
Addition in valuation allowance	0
Income tax expense, current	$ 600,000
Increase in effective tax rate	0.40%
Increase in effective tax rate	0.30%
Tax loss carryforwards	$ 14,901,000	10,352,000
Tax credit carryforwards	2,141,000	1,851,000
Valuation Allowance	3,701,000	2,255,000
Unrecognized tax benefits	168,000	1,927,000	$ 1,931,000	$ 1,958,000
Unrecognized tax benefits that, if recognized, would impact effective tax rates	162,000	1,917,000	1,921,000
Recognition of interest and penalties accrued related to unrecognized tax benefits as income tax expense	26,000	3,000	$ 9,000
Income tax liability for interest and penalties	30,000	56,000
Unrecognized tax benefits from adjustments related to examination	1,526,000
Income tax refund receivable	1,300,000
Executive [Member]
Income Tax [Line Items]
Income tax expense	500,000
Maximum deductible limitation for employee compensation	1,000,000
Deemed Repatriation Transition Tax [Member]
Income Tax [Line Items]
Provisional transition tax obligation	19,000,000	19,400,000
Income tax expense	19,000,000	$ 19,400,000
Favorable measurement-period adjustment transition tax obligation	400,000
Favorable measurement-period adjustment to income tax expense	$ 400,000
Measurement-period adjustment reduction of rate	0.30%
Maximum [Member]
Income Tax [Line Items]
Foreign tax credit percent	50.00%

Income Taxes - Schedule Showing Tax Effects of Significant Temporary Differences Representing Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred Tax Liabilities:
Depreciation	$ (57,665)	$ (51,244)
Unrealized foreign exchange loss	(980)	(734)
Amortization of intangibles	(1,016)	(1,420)
Inventories	(725)
Other	(301)	(646)
Deferred Tax Liabilities, Gross	(60,687)	(54,044)
Deferred Tax Assets:
Pensions	7,971	7,884
Deferred revenue	208	232
Other accruals and reserves	13,123	13,660
Inventories		1,182
Legal and environmental accruals	7,143	7,243
Deferred compensation	14,214	15,402
Bad debt and rebate reserves	2,916	2,865
Non-U.S. subsidiaries net operating loss carryforwards	3,869	2,657
Tax credit carryforwards	2,141	1,851
Deferred Tax Assets, Gross	51,585	52,976
Valuation Allowance	(3,701)	(2,255)
Net Deferred Tax Liabilities	(12,803)	(3,323)
Reconciliation to Consolidated Balance Sheet:
Non-current deferred tax assets (in other non-current assets)	5,869	7,639
Non-current deferred tax liabilities	$ (18,672)	$ (10,962)

Income Taxes - Schedule of Reconciliations of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Unrecognized tax benefits, opening balance	$ 1,927	$ 1,931	$ 1,958
Gross increases – tax positions in prior period	29
Gross increases – current period tax positions	26	20	35
Foreign currency translation	1	69	(43)
Settlement	(1,526)
Lapse of statute of limitations	(289)	(93)	(19)
Unrecognized tax benefits, ending balance	$ 168	$ 1,927	$ 1,931

Stockholders' Equity - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Class Of Stock [Line Items]
Treasury stock, shares	3,803,043	3,561,509
Shares purchased during period	205,983	76,790	43,835
Treasury stock distributed under deferred compensation plan	8,410
Stock purchased to settle employees statutory withholding taxes relates to performance stock awards and deferred compensation distribution	43,961
Retirement Plans [Member]
Class Of Stock [Line Items]
Shares purchased during period	40,304
Open Market Repurchases [Member]
Class Of Stock [Line Items]
Shares purchased during period	165,679

Stock-based Compensation - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock authorized for share based payment awards under 2011 Plan	2,600,000
Shares available for grant under the 2011 plan	665,374
Compensation expenses	$ 6,837,000	$ 7,151,000	$ 12,618,000
Decrease increase in market value of company common stock, per share	$ 74.00	$ 78.97	$ 81.48
Decrease in market value of common stock	$ 4.97	$ 2.51
Income tax benefit recognized in the income statement for share-based compensation arrangements	$ 1,849,000	$ 2,980,124	$ 4,761,000
Proceeds from stock option exercises	$ 4,163,000	$ 3,370,000	$ 4,017,000
Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average grant-date fair values of options awarded	$ 22.13	$ 24.49	$ 14.70
Intrinsic values of options exercised	$ 3,879,000	$ 5,232,000	$ 6,620,000
Unrecognized compensation cost	$ 1,655,000
Weighted average period for amortization of unrecognized compensation cost	1 year 8 months 12 days
Actual tax benefit recognized for the tax deductions from stock based compensation	$ 548,000	$ 1,455,000	$ 1,899,000
Stock Option Granted Prior to 2017 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	2 years
Stock Options Granted in 2017 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Percentage of awards vesting in each year	33.33%
Stock Options Granted in 2018 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Percentage of awards vesting in each year	33.33%
Performance Stock Award [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance stock awards vested	0
Stock Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost	$ 3,180,000
Weighted average period for amortization of unrecognized compensation cost	1 year 8 months 12 days
Performance stock awards vested	119,501
Weighted-average grant-date fair values of awards granted	$ 72.06	$ 75.94	$ 41.81
SARs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Period of expiration	10 years
Unrecognized compensation cost	$ 3,566,000
Weighted average period for amortization of unrecognized compensation cost	1 year 9 months 18 days
Weighted-average grant-date fair values of awards granted	$ 22.19	$ 24.90	$ 14.69
SARs liability cash-settled	$ 3,647,000	$ 4,760,000
SARs Granted Prior to 2017 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	2 years
SARs Granted in 2017 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Percentage of awards vesting in each year	33.33%
SARs Granted in 2018 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Percentage of awards vesting in each year	33.33%
Maximum [Member] \| Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Period of expiration	10 years
Minimum [Member] \| Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Period of expiration	8 years

Stock-based Compensation - Fair Value Assumptions for Stock Options (Detail) - Stock Option [Member]	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected dividend yield	1.34%	1.39%	1.45%
Expected volatility	27.41%	30.01%	35.62%
Expected term	7 years 3 months 18 days	7 years 2 months 12 days	7 years 3 months 18 days
Risk-free interest rate	2.88%	2.22%	1.52%

Stock-based Compensation - Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Shares, Beginning Balance	391,805
Granted, Shares	77,038
Exercised, Shares	(97,471)	(104,277)	(167,675)
Forfeited, Shares	(9,829)
Shares, Ending Balance	361,543	391,805
Vested or expected to vest, Shares	352,436
Exercisable, Shares	268,545
Weighted Average Exercise Price, Beginning Balance	$ 52.09
Granted, Weighted Average Exercise Price	73.08
Exercised, Weighted Average Exercise Price	42.71
Forfeited, Weighted Average Exercise Price	61.79
Weighted Average Exercise Price, Ending Balance	58.83	$ 52.09
Vested or expected to vest, Weighted Average Exercise Price	58.38
Exercisable, Weighted Average Exercise Price	$ 53.17
Weighted Average Remaining Contractual Term, Ending Balance	6 years 8 months 23 days
Vested or expected to vest, Weighted Average Remaining Contractual Term	6 years 8 months 4 days
Exercisable, Weighted Average Remaining Contractual Term	6 years 18 days
Aggregate Intrinsic Value, Ending Balance	$ 5,485
Vested or expected to vest, Aggregate Intrinsic Value	5,506
Exercisable, Aggregate Intrinsic Value	$ 5,592

Stock-based Compensation - Summary of Stock Award Activity (Detail) - Stock Awards [Member] - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares, Beginning Balance	169,033
Granted, Shares	54,055
Vested, Shares	(119,501)
Forfeited, Shares	(18,217)
Shares, Ending Balance	85,370	169,033
Unvested Weighted Average Grant Date Fair Value, Beginning Balance	$ 49.48
Granted, Weighted Average Grant Date Fair Value	72.06	$ 75.94	$ 41.81
Vested, Weighted Average Grant Date Fair Value	41.88
Forfeited, Weighted Average Grant Date Fair Value	53.05
Unvested Weighted Average Grant Date Fair Value, Ending Balance	$ 73.65	$ 49.48

Stock-based Compensation - Summary of SARs Activity (Detail) - SARs [Member] $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($) $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares, Beginning Balance \| shares	616,650
Granted, Shares \| shares	171,131
Exercised, Shares \| shares	(117,942)
Forfeited, Shares \| shares	(30,693)
Shares, Ending Balance \| shares	639,146
Weighted Average Exercise Price, Beginning Balance \| $ / shares	$ 55.23
Granted, Weighted Average Exercise Price \| $ / shares	73.11
Exercised, Weighted Average Exercise Price \| $ / shares	49.68
Forfeited, Weighted Average Exercise Price \| $ / shares	63.66
Weighted Average Exercise Price, Ending balance \| $ / shares	$ 60.64
Weighted Average Remaining Contractual Term, Ending balance	7 years 1 month 6 days
Aggregate Intrinsic Value, Ending balance \| $	$ 8,430

Deferred Compensation - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Deferred compensation	$ (2,329,000)	$ 4,857,000	$ 16,805,000
Deferred compensation liability	$ 50,451,000	$ 58,915,000
Decrease in value of common stock due to deferred compensation	$ 4.97

Postretirement Benefit Plans - Obligations and Funded Status (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
United States [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Benefit obligation at beginning of year	$ 171,358	$ 162,727
Interest cost	6,194	6,651	$ 6,934
Actuarial (gain) loss	(11,494)	9,109
Benefits paid	(7,464)	(7,129)
Benefit obligation at end of year	158,594	171,358	162,727
Fair value of plan assets at beginning of year	147,908	137,092
Actual return (loss) on plan assets	(11,558)	15,533
Employer contributions	5,312	2,412
Benefits paid	(7,464)	(7,129)
Fair value of plan assets at end of year	134,198	147,908	137,092
Over (Under) funded status at end of year	(24,396)	(23,450)
United Kingdom [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Benefit obligation at beginning of year	24,048	22,034
Interest cost	565	592	733
Actuarial (gain) loss	(2,129)	(156)
Benefits paid	(1,255)	(516)
Foreign exchange impact	(1,223)	2,094
Benefit obligation at end of year	20,006	24,048	22,034
Fair value of plan assets at beginning of year	24,168	20,336
Actual return (loss) on plan assets	(1,583)	1,957
Employer contributions	494	365
Benefits paid	(1,254)	(516)
Foreign exchange impact	(1,249)	2,026
Fair value of plan assets at end of year	20,576	24,168	$ 20,336
Over (Under) funded status at end of year	$ 570	$ 120

Postretirement Benefit Plans - Schedule of Amounts Recognized in Balance Sheets (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
United States [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Current liability	$ (302)	$ (302)
Non-current liability	(24,094)	(23,148)
Net amount recognized	(24,396)	(23,450)
United Kingdom [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Non-current asset	570	120
Net amount recognized	$ 570	$ 120

Postretirement Benefit Plans - Amounts Recognized in Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
United States [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Net actuarial loss	$ 45,334	$ 39,801
United Kingdom [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Net actuarial loss	$ 5,849	$ 5,743

Postretirement Benefit Plans - Information for Pension Plans with Projected Benefit Obligations in Excess of Plan Assets (Detail) - United States [Member] - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	$ 158,594	$ 171,358
Accumulated benefit obligation	158,594	171,358
Fair value of plan assets	$ 134,198	$ 147,908

Postretirement Benefit Plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost	$ 1,215	$ 1,035	$ 1,637
United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	6,194	6,651	6,934
Expected return on plan assets	(9,284)	(9,288)	(9,012)
Amortization of net actuarial loss	3,814	3,085	3,386
Net periodic benefit cost	724	448	1,308
United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	565	592	733
Expected return on plan assets	(885)	(797)	(900)
Amortization of net actuarial loss	219	382	77
Net periodic benefit cost	$ (101)	$ 177	$ (90)

Postretirement Benefit Plans - Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
United States [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Net actuarial (gain) loss	$ 9,348	$ 2,864	$ (11,062)
Amortization of net actuarial loss	(3,814)	(3,085)	(3,386)
Total recognized in other comprehensive income	5,534	(221)	(14,448)
Total recognized in net periodic benefit cost and other comprehensive income	6,258	227	(13,140)
United Kingdom [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Net actuarial (gain) loss	325	(1,318)	3,756
Amortization of net actuarial loss	(219)	(382)	(77)
Total recognized in other comprehensive income	106	(1,700)	3,679
Total recognized in net periodic benefit cost and other comprehensive income	$ 5	$ (1,523)	$ 3,589

Postretirement Benefit Plans - Estimated Amounts Reclassified from Accumulated Other Comprehensive Income into Net Periodic Benefit Cost (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
United States [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Net actuarial loss	$ 2,609
United Kingdom [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Net actuarial loss	$ 244

Postretirement Benefit Plans - Estimated Future Benefit Payments (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
United States [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
2019	$ 8,009
2020	8,443
2021	8,954
2022	9,438
2023	9,836
2024-2028	51,998
United Kingdom [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
2019	482
2020	487
2021	509
2022	553
2023	592
2024-2028	$ 3,557

Postretirement Benefit Plans - Weighted-Average Assumptions Used To Determine Benefit Obligations (Detail)	Dec. 31, 2018	Dec. 31, 2017
United States [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Discount rate	4.30%	3.67%
United Kingdom [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Discount rate	2.80%	2.40%

Postretirement Benefit Plans - The Weighted Average Assumptions Used to Determine Net Periodic Benefit Costs (Detail)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
United States [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Discount rate	3.67%	4.17%	4.39%
Expected long-term return on plan assets	6.75%	7.00%	7.00%
United Kingdom [Member]
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Discount rate	2.40%	2.60%	4.00%
Expected long-term return on plan assets	3.71%	3.77%	4.59%

Postretirement Benefit Plans - Defined Benefit Plans - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Aug. 08, 2018	Mar. 09, 2018	Feb. 21, 2018	Nov. 20, 2017	Feb. 21, 2017
Defined Benefit Plan Disclosure [Line Items]
Assets gains or losses added for prior year	80.00%
Assets gains or losses added for second preceding year	60.00%
Assets gains or losses added for third preceding year	40.00%
Assets gains or losses added for fourth preceding year	20.00%
United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Common shares sold to the Company's ESOP trust				16,833	23,471	43,930	18,827	40,837
Expected long-term rate of return on assets	6.75%	7.00%	7.00%
Expected payment related to qualified plan	$ 0
Expected payment related to non-qualified plan	$ 301,000
U.K Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on assets	3.71%	3.77%	4.59%
Percentage of premium estimated return for equities and properties to risk free rate	4.80%
Percentage of long term return in cash	4.00%
Expected payment related to qualified plan	$ 476,000
Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of target allocation for investment category	59.00%
Expected long-term rate of return on assets	6.41%
Equities [Member] \| U.K Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of target allocation for investment category	59.00%
Debt Securities [Member] \| United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of target allocation for investment category	30.00%
Debt Securities [Member] \| U.K Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of target allocation for investment category	31.00%
Employer Securities [Member] \| United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of target allocation for investment category	11.00%
Insurance Contracts [Member] \| U.K Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of target allocation for investment category	6.00%
Real Estate Fund [Member] \| U.K Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of target allocation for investment category	3.00%
Cash [Member] \| U.K Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of target allocation for investment category	1.00%
U.S. and international equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on assets	4.79%

Postretirement Benefit Plans - Company's Asset Allocations for its U.S. Pension Plans by Asset Category (Detail) - United States [Member] - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Total	$ 134,198	$ 147,908	$ 137,092
Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	95,478	109,979
Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	38,720	37,929
Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	4,935	4,903
Cash and Cash Equivalents [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	4,935	4,903
U.S. Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	34,751	37,753
U.S. Equities [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	34,751	37,753
Non-U.S. Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	27,415	31,628
Non-U.S. Equities [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	27,415	31,581
Non-U.S. Equities [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total		47
Employer Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	22,063	30,197
Employer Securities [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	22,063	30,197
Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	84,229	99,578
Equities [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	84,229	99,531
Equities [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total		47
U.S. Corporate Bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	29,659	28,744
U.S. Corporate Bonds [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	29,659	28,744
U.S. Government and Agency Bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	9,453	6,590
U.S. Government and Agency Bonds [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	6,314	5,545
U.S. Government and Agency Bonds [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	3,139	1,045
Other Bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	5,922	8,093
Other Bonds [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	5,922	8,093
Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	45,034	43,427
Debt Securities [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	6,314	5,545
Debt Securities [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	$ 38,720	$ 37,882

Postretirement Benefit Plans - Company's Asset Allocations for its U.K. Pension Plans by Asset Category (Detail) - United Kingdom [Member] - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Total	$ 20,576	$ 24,168	$ 20,336
Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	205	745
Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	19,128	21,725
Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	1,243	1,698
Cash [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	205	745
Cash [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	205	745
Pooled Pension Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	12,750	14,127
Pooled Pension Funds [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	12,750	14,127
Pooled Fixed Pension Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	6,378	6,952
Pooled Fixed Pension Funds [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	6,378	6,952
Real Estate Pooled Pension Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Total		646
Real Estate Pooled Pension Funds [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total		646
Insurance Contracts [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	1,243	1,698
Insurance Contracts [Member] \| Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Total	$ 1,243	$ 1,698

Postretirement Benefit Plans - Fair Value Changes Within Asset Categories for which Fair Value Measurements Use Significant Unobservable Inputs Level 3 (Detail) - Insurance Contracts [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 1,698	$ 1,759
Sale proceeds (benefit payments)	(129)	(134)
Change in unrealized gain	(247)	(84)
Foreign exchange impact	(79)	157
Ending balance	$ 1,243	$ 1,698

Postretirement Benefit Plans - Defined Contribution Plan Expenses for the Company's Retirement Savings Plans and Profit Sharing Plan (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Contribution Plan Disclosure [Line Items]
Total defined contribution expense	$ 11,799	$ 12,000	$ 11,132
Retirement Contributions [Member]
Defined Contribution Plan Disclosure [Line Items]
Total defined contribution expense	7,617	4,998	4,902
Profit Sharing Contributions [Member]
Defined Contribution Plan Disclosure [Line Items]
Total defined contribution expense	$ 4,182	$ 7,002	$ 6,230

Postretirement Benefit Plans - Defined Contribution Plans - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Contribution Plan Disclosure [Line Items]
Supplemental plan liability balances	$ 1,519	$ 1,661
Defined contribution plan expense	11,799	12,000	$ 11,132
Statutory Plans [Member]
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan expense	374	398	$ 290
Defined Contribution Plans [Member]
Defined Contribution Plan Disclosure [Line Items]
Balance of trust assets	$ 1,444	$ 1,587

Accrued Liabilities - Composition of Accrued Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Payables And Accruals [Abstract]
Accrued payroll and benefits	$ 53,782	$ 58,877
Accrued customer rebates	24,833	16,729
Other accrued liabilities	16,955	17,170
Total accrued liabilities	$ 95,570	$ 92,776

Other Non-Current Liabilities - Statement of Composition of Other Non Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Other Liabilities Disclosure [Abstract]
Deferred revenue	$ 1,215	$ 1,539
Environmental and legal matters	20,404	21,888
Deferred compensation liability	43,819	51,890
Pension liability	26,722	25,632
Other non-current liabilities	11,704	29,484
Total other non-current liabilities	$ 103,864	$ 130,433

Contingencies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Site Contingency [Line Items]
Environmental and legal losses	$ 23,400,000	$ 24,200,000
Cash outlays related to legal and environmental matters	$ 1,600,000	$ 2,000,000
Contribution for future response costs	5.00%
Wilmington Site [Member]
Site Contingency [Line Items]
Payment of environmental response costs	$ 2,600,000
Minimum [Member]
Site Contingency [Line Items]
Environmental and legal losses	23,400,000
Maximum [Member]
Site Contingency [Line Items]
Environmental and legal losses	$ 44,700,000

Segment Reporting - Additional Information (Detail)	12 Months Ended
Segment Reporting - Additional Information (Detail)	Dec. 31, 2018 Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Reporting - Operating Segment (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

$ 466,659

$ 507,997

$ 519,866

$ 499,335

$ 473,823

$ 487,814

$ 495,101

$ 468,269

$ 1,993,857

^[1]

$ 1,925,007

^[1]

$ 1,766,166

^[1]

39,385

$ 27,694

$ 44,685

$ 39,655

31,398

$ 30,434

$ 39,133

$ 46,230

151,419

^[2]

147,195

^[2]

127,830

^[2]

1,484,666

1,470,861

1,484,666

1,470,861

1,353,890

86,647

78,613

103,076

Operating Segments [Member]

81,115

79,022

74,967

1,993,857

1,925,007

1,766,166

^[2]

213,706

213,777

208,919

1,285,200

1,311,932

1,285,200

1,311,932

1,208,697

84,398

75,780

100,205

78,917

77,119

73,122

Surfactants [Member]

Surfactants [Member] | Operating Segments [Member]

1,385,932

1,297,555

1,181,563

1,385,932

1,297,555

1,181,563

137,506

120,861

^[2]

101,092

^[2]

850,553

881,415

850,553

881,415

831,324

51,543

50,400

64,121

50,514

49,102

48,643

Polymers [Member]

Polymers [Member] | Operating Segments [Member]

527,420

546,634

498,826

527,420

546,634

498,826

64,539

82,951

^[2]

97,102

^[2]

351,690

355,065

351,690

355,065

301,890

26,663

21,146

31,890

Specialty Products [Member]

23,253

22,998

20,275

Specialty Products [Member] | Operating Segments [Member]

80,505

80,818

85,777

80,505

80,818

85,777

11,661

9,965

^[2]

10,725

^[2]

$ 82,957

$ 75,452

82,957

75,452

75,483

6,192

4,234

4,194

$ 5,150

$ 5,019

$ 4,204

[1]	Net sales are attributed to countries based on the location of the Company facility making the sales.
[2]	The 2017 and 2016 amounts for the noted line items have been immaterially changed from the amounts originally reported as a result of the Company’s first quarter 2018 adoption of ASU No. 2017-7, Compensation –Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.

Segment Reporting - Reconciliation of Segment Information to Consolidated Financial Statements (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Business restructuring and asset impairments

$ 39,385

$ 27,694

$ 44,685

$ 39,655

$ 31,398

$ 30,434

$ 39,133

$ 46,230

$ 151,419

^[1]

$ 147,195

^[1]

$ 127,830

^[1]

(2,588)

(3,069)

(7,064)

Interest expense, net

(2,151)

(2,797)

(2,672)

(3,151)

(2,826)

(2,763)

(2,863)

(2,992)

(10,771)

(11,444)

(13,205)

Other, net

^[1]

(725)

3,486

(809)

Consolidated income before income taxes

34,519

$ 25,243

$ 42,497

$ 37,664

28,532

$ 29,312

$ 37,063

$ 44,330

139,923

139,237

113,816

1,484,666

1,470,861

1,484,666

1,470,861

1,353,890

Depreciation and amortization

86,647

78,613

103,076

81,115

79,022

74,967

Operating Segments [Member]

^[1]

213,706

213,777

208,919

1,285,200

1,311,932

1,285,200

1,311,932

1,208,697

Depreciation and amortization

84,398

75,780

100,205

78,917

77,119

73,122

Segment Reconciling Items [Member]

Business restructuring and asset impairments

^[2]

(2,588)

(3,069)

(7,064)

Unallocated corporate expenses

^[3]

(59,699)

(63,513)

(74,025)

Unallocated corporate assets

^[4]

$ 199,466

$ 158,929

199,466

158,929

145,193

Unallocated corporate expenditures

2,249

2,833

2,871

Unallocated corporate depreciation expenses

$ 2,198

$ 1,903

$ 1,845

[1]	The 2017 and 2016 amounts for the noted line items have been immaterially changed from the amounts originally reported as a result of the Company’s first quarter 2018 adoption of ASU No. 2017-7, Compensation –Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.
[2]	See Note 22 regarding business restructuring and asset impairment costs.
[3]	Unallocated corporate expenses primarily comprise corporate administrative expenses (e.g., corporate finance, legal, human resources, information systems, deferred compensation and environmental remediation) that are not included in segment operating income and not used to evaluate segment performance.
[4]	The changes in unallocated corporate assets between 2018, 2017 and 2016 were primarily attributable to changes in the balance of U.S. cash and cash equivalents, which are not allocated to segments.

Segment Reporting - Summary of Company Wide Geographic Data (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

$ 466,659

$ 507,997

$ 519,866

$ 499,335

$ 473,823

$ 487,814

$ 495,101

$ 468,269

$ 1,993,857

^[1]

$ 1,925,007

^[1]

$ 1,766,166

^[1]

^[2]

646,090

642,099

646,090

642,099

630,361

United States [Member]

^[1]

1,193,938

1,159,578

1,076,259

^[2]

427,274

420,342

427,274

420,342

411,023

France [Member]

^[1]

171,010

176,052

151,031

Poland [Member]

^[1]

170,474

188,244

153,986

United Kingdom [Member]

^[1]

105,732

99,069

86,458

All Other Countries [Member]

^[2]

20,225

21,657

20,225

21,657

20,309

^[1]

252,375

192,104

223,471

^[2]

61,145

50,631

61,145

50,631

47,670

Brazil [Member]

^[1]

100,328

109,960

74,961

^[2]

48,427

55,974

48,427

55,974

58,106

Germany [Member]

^[2]

29,151

29,116

29,151

29,116

27,475

Singapore [Member]

^[2]

30,838

33,530

30,838

33,530

36,270

China [Member]

Computation of Basic Earnings per Share

^[2]

$ 29,030

$ 30,849

$ 29,030

$ 30,849

$ 29,508

[1]	Net sales are attributed to countries based on the location of the Company facility making the sales.
[2]	Includes net property, plant and equipment, goodwill and other intangible assets.

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Net income attributable to Stepan Company

$ 26,946

$ 22,168

$ 32,925

$ 30,723

$ 9,884

$ 21,899

$ 27,882

$ 31,913

$ 112,762

$ 91,578

$ 86,191

Weighted-average number of shares outstanding

23,022

22,946

22,793

Basic earnings per share

$ 4.90

$ 3.99

$ 3.78

Net income attributable to Stepan Company

$ 112,762

$ 91,578

$ 86,191

Weighted-average number of shares outstanding

23,022

22,946

22,793

Add weighted-average net shares related to unvested stock awards (under treasury share method)

Weighted-average shares applicable to diluted earnings

23,325

23,377

23,094

Diluted earnings per share

$ 1.16

$ 0.95

$ 1.41

$ 1.31

$ 0.42

$ 0.94

$ 1.19

$ 1.37

$ 4.83

$ 3.92

$ 3.73

Stock Option [Member]

Add weighted-average net shares from assumed exercise of options (under treasury share method)

^[1]

101

161

159

Stock Appreciation Rights (SARs) [Member]

Add weighted-average net shares from assumed exercise of options (under treasury share method)

110

142

Performance Stock Award [Member]

Add weighted-average net shares from assumed exercise of options (under treasury share method)

120

[1]

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Parenthetical) (Detail) - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Options and Stock Appreciation Rights (SARs) [Member]
Earnings Per Share Basic [Line Items]
Options to purchase shares of common stock not included in the computations of diluted earnings per share	50,770	18,630	43,715

Accumulated Other Comprehensive Income (Loss) - Summary of Changes in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	$ 740,096
Other comprehensive income before reclassifications	(45,000)	$ 25,632	$ (4,639)
Amounts reclassified from AOCI	3,080	2,270	2,262
Net current period other comprehensive income	(41,920)	27,902	(2,377)
Ending Balance	783,766	740,096
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(70,561)	(96,775)	(88,337)
Other comprehensive income before reclassifications	(37,920)	26,214	(8,438)
Net current period other comprehensive income	(37,920)	26,214	(8,438)
Ending Balance	(108,481)	(70,561)	(96,775)
Defined Benefit Pension Plan Adjustments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(29,093)	(30,790)	(36,825)
Other comprehensive income before reclassifications	(7,080)	(582)	3,818
Amounts reclassified from AOCI	3,090	2,279	2,217
Net current period other comprehensive income	(3,990)	1,697	6,035
Ending Balance	(33,083)	(29,093)	(30,790)
Cash Flow Hedge Adjustments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	91	100	74
Other comprehensive income before reclassifications			(19)
Amounts reclassified from AOCI	(10)	(9)	45
Net current period other comprehensive income	(10)	(9)	26
Ending Balance	81	91	100
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(99,563)	(127,465)	(125,088)
Ending Balance	$ (141,483)	$ (99,563)	$ (127,465)

Accumulated Other Comprehensive Income (Loss) - Summary of Amounts Reclassifications Out of Accumulated Other Comprehensive Income (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

$ 34,519

$ 25,243

$ 42,497

$ 37,664

$ 28,532

$ 29,312

$ 37,063

$ 44,330

$ 139,923

$ 139,237

$ 113,816

Tax benefit

(27,173)

(47,690)

(27,618)

Interest, net

$ (2,151)

$ (2,797)

$ (2,672)

$ (3,151)

$ (2,826)

$ (2,763)

$ (2,863)

$ (2,992)

(10,771)

(11,444)

(13,205)

Defined Benefit Pension Plan Adjustments [Member] | Amounts Reclassified From Accumulated Other Comprehensive Income [Member]

^[1]

1,652,354

1,586,485

1,426,897

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Prior service cost

^[2]

(12)

(14)

Actuarial loss

^[2]

(4,059)

(3,509)

(3,508)

Income applicable to common stock

^[2],[3]

(4,071)

(3,523)

(3,522)

Tax benefit

^[2]

981

1,244

1,305

^[2]

(3,090)

(2,279)

(2,217)

Cash Flow Hedge Adjustments [Member] | Amounts Reclassified From Accumulated Other Comprehensive Income [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Income applicable to common stock

^[2]

(73)

Tax benefit

^[2]

^[2]

(45)

Cash Flow Hedge Adjustments [Member] | Interest rate contracts [Member] | Amounts Reclassified From Accumulated Other Comprehensive Income [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Interest, net

^[2]

(82)

Cash Flow Hedge Adjustments [Member] | Foreign exchange contracts [Member] | Amounts Reclassified From Accumulated Other Comprehensive Income [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Accumulated Other Comprehensive Income (Loss) [Member]

^[2]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Income applicable to common stock

^[2]

$ (3,080)

$ (2,270)

$ (2,262)

[1]	The 2017 and 2016 amounts for the noted line items have been immaterially changed from the amounts originally reported as a result of the Company’s first quarter 2018 adoption of ASU No. 2017-7, Compensation –Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.
[2]	Amounts in parentheses denote expense to statement of income.
[3]	This component of accumulated other comprehensive income is included in the computation of net periodic benefit cost (see Note 13 for details regarding net periodic benefit costs for the Company’s U.S. and U.K. defined benefit plans).

Acquisitions - Additional Information (Detail)

3 Months Ended

12 Months Ended

Mar. 26, 2018

USD ($)

ft²

Oct. 03, 2016

USD ($)

Customer

Dec. 31, 2018

USD ($)

Sep. 30, 2018

USD ($)

Jun. 30, 2018

USD ($)

Mar. 31, 2018

USD ($)

Dec. 31, 2017

USD ($)

Sep. 30, 2017

USD ($)

Jun. 30, 2017

USD ($)

Mar. 31, 2017

USD ($)

Dec. 31, 2016

USD ($)

Dec. 31, 2016

BRL (R$)

Dec. 31, 2018

USD ($)

Dec. 31, 2017

USD ($)

Dec. 31, 2016

USD ($)

Dec. 31, 2015

USD ($)

Mar. 31, 2017

BRL (R$)

Dec. 31, 2016

BRL (R$)

Oct. 03, 2016

BRL (R$)

Customer

Paid from cash on hand

$ 22,852,000

$ 4,339,000

$ 23,510,000

$ 22,954,000

$ 25,118,000

$ 25,308,000

22,954,000

25,118,000

25,308,000

466,659,000

$ 507,997,000

$ 519,866,000

$ 499,335,000

473,823,000

$ 487,814,000

$ 495,101,000

$ 468,269,000

1,993,857,000

^[1]

1,925,007,000

^[1]

1,766,166,000

^[1]

Non-compete Agreements [Member]

26,946,000

$ 22,168,000

$ 32,925,000

$ 30,723,000

9,884,000

$ 21,899,000

$ 27,882,000

31,913,000

$ 112,762,000

91,578,000

86,191,000

Amortization periods for the identifiable intangible assets at the time of acquisition

5 years

Minimum [Member] | Customer Relationships [Member]

Amortization periods for the identifiable intangible assets at the time of acquisition

10 years

Maximum [Member] | Customer Relationships [Member]

Amortization periods for the identifiable intangible assets at the time of acquisition

13 years

Brazil [Member]

^[1]

$ 100,328,000

109,960,000

74,961,000

Surfactants [Member]

17,054,000

$ 19,160,000

19,491,000

17,054,000

19,160,000

19,491,000

2018 Acquisition [Member] | BASF Mexicana, S.A. DE C.V. [Member]

1,385,932,000

$ 1,297,555,000

1,181,563,000

2018 Acquisition [Member] | BASF Mexicana, S.A. DE C.V. [Member] | Surfactants [Member] | Ecatepec, Mexico [Member]

Total assets acquired

$ 22,852,000

Incremental inventory and related value-added taxes

1,377,000

Capacity of production facility expected to be acquired | T

50,000

Warehouse space, laboratory and office space currently expected to be acquired | ft²

124,000

Paid from cash on hand

$ 21,475,000

Total assets acquired

22,852,000

Payment of incremental inventory and related value-added taxes

1,377,000

Intangible assets identified related to acquisition

$ 0

2016 Acquisition [Member] | Tebras And PBC [Member]

Total assets acquired

$ 32,442,000

14,207,000

2016 Acquisition [Member] | Tebras And PBC [Member] | Customer Relationships [Member]

7,354,000

Amortization periods for the identifiable intangible assets at the time of acquisition

$ 4,331,000

13 years

2016 Acquisition [Member] | Tebras And PBC [Member] | Supply Contract [Member]

Amortization periods for the identifiable intangible assets at the time of acquisition

$ 2,555,000

4 years

2016 Acquisition [Member] | Tebras And PBC [Member] | Non-compete Agreements [Member]

Amortization periods for the identifiable intangible assets at the time of acquisition

$ 468,000

5 years

2016 Acquisition [Member] | Tebras And PBC [Member] | Before purchase accounting adjustments [Member]

2016 Acquisition [Member] | Tebras And PBC [Member] | After purchase accounting adjustments [Member]

14,327,000

2016 Acquisition [Member] | Tebras And PBC [Member] | Brazil [Member]

14,207,000

2016 Acquisition [Member] | Tebras And PBC [Member] | Brazil [Member] | Maximum [Member]

$ 28,000,000

2016 Acquisition [Member] | Tebras And PBC [Member] | Surfactants [Member] | Brazil [Member]

$ 2,000,000

Capacity of production facility expected to be acquired | T

25,000

Paid from cash on hand

21,812,000

R$ 70,000,000

Original purchase price of acquisitions

$ 29,075,000

R$ 93,309,000

Deposited in escrow

2,804,000

R$ 9,000,000

Unpaid working capital adjustments

$ 4,459,000

R$ 14,309,000

Working capital adjustment amount paid

4,339,000

R$ 13,925,000

Adjusted purchase price of the acquisitions

$ 28,955,000

R$ 92,925,000

2016 Acquisition [Member] | Tebras And PBC [Member] | Surfactants [Member] | Brazil [Member] | Minimum [Member]

Number of customers | Customer

1,200

[1]	Net sales are attributed to countries based on the location of the Company facility making the sales.

Acquisitions - Summary of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Mar. 26, 2018	Dec. 31, 2017	Dec. 31, 2016	Oct. 03, 2016
Assets:
Goodwill	$ 22,954		$ 25,118	$ 25,308
2018 Acquisition [Member] \| BASF Mexicana, S.A. DE C.V. [Member]
Assets:
Property, plant and equipment		$ 14,464
Inventory		5,687
Other Receivable		2,701
Total assets acquired		22,852
Property, plant and equipment		$ 14,464
2016 Acquisition [Member] \| Tebras And PBC [Member]
Assets:
Property, plant and equipment					$ 5,716
Total assets acquired					32,442
Current assets					5,165
Property, plant and equipment					5,716
Identifiable intangible assets					7,354
Goodwill					14,207
Liabilities:
Current liabilities					408
Deferred tax liability					3,079
Total liabilities assumed					3,487
Net assets acquired					$ 28,955

Revenue from Contracts with Customers - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018 USD ($)
Disaggregation Of Revenue [Line Items]
Contract assets	$ 0
Contract liabilities	$ 0
Minimum [Member]
Disaggregation Of Revenue [Line Items]
Payment terms on sales of product	30 days
Maximum [Member]
Disaggregation Of Revenue [Line Items]
Payment terms on sales of product	60 days

Revenue from Contracts with Customers - Summary of Geographic Disaggregation of Net Sales (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

$ 466,659

$ 507,997

$ 519,866

$ 499,335

$ 473,823

$ 487,814

$ 495,101

$ 468,269

$ 1,993,857

^[1]

$ 1,925,007

^[1]

$ 1,766,166

^[1]

North America [Member]

1,223,153

1,159,579

1,114,089

Europe [Member]

461,678

477,277

407,551

Latin America [Member]

216,287

195,253

155,869

Asia [Member]

92,739

92,898

88,657

Surfactants [Member]

Surfactants [Member] | North America [Member]

1,385,932

1,297,555

1,181,563

Surfactants [Member] | Europe [Member]

831,592

763,044

724,619

Surfactants [Member] | Latin America [Member]

276,742

275,121

237,489

Surfactants [Member] | Asia [Member]

212,824

190,802

151,229

64,774

68,588

68,226

Polymers [Member]

Polymers [Member] | North America [Member]

527,420

546,634

498,826

Polymers [Member] | Europe [Member]

323,360

329,629

319,769

Polymers [Member] | Latin America [Member]

172,632

188,244

153,986

Polymers [Member] | Asia [Member]

3,463

4,451

4,640

Specialty Products [Member]

27,965

24,310

20,431

Specialty Products [Member] | North America [Member]

80,505

80,818

85,777

Specialty Products [Member] | Europe [Member]

68,201

66,906

69,701

Quarterly Financial Information Disclosure [Abstract]

$ 12,304

$ 13,912

$ 16,076

[1]	Net sales are attributed to countries based on the location of the Company facility making the sales.

Business Restructuring and Asset Impairments - Additional Information (Detail)	1 Months Ended	3 Months Ended			12 Months Ended
	Jun. 30, 2017 Employees	Dec. 31, 2017 USD ($)	Jun. 30, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2018 USD ($) Employees	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
2018 Restructuring [Member] \| Germany [Member] \| Surfactants [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring costs					$ 1,404,000
2017 Restructuring [Member] \| Fieldsboro, NJ [Member]
Restructuring Cost And Reserve [Line Items]
Business restructuring		$ 915,000
Depreciation expense		$ 1,290,000
2017 Restructuring [Member] \| Singapore [Member] \| Surfactants [Member]
Restructuring Cost And Reserve [Line Items]
Number positions eliminated \| Employees	11
2017 Restructuring [Member] \| Singapore [Member] \| Surfactants [Member] \| Termination Benefits [Member]
Restructuring Cost And Reserve [Line Items]
Business restructuring			$ 132,000			$ 0
2016 Restructuring [Member] \| Longford Mills [Member]
Restructuring Cost And Reserve [Line Items]
Business restructuring					1,185,000	2,022,000
2016 Restructuring [Member] \| Longford Mills [Member] \| Other Expense [Member]
Restructuring Cost And Reserve [Line Items]
Business restructuring					1,185,000	2,022,000
2016 Restructuring [Member] \| Longford Mills [Member] \| Surfactants [Member]
Restructuring Cost And Reserve [Line Items]
Business restructuring					6,024,000
Depreciation expense					$ 0	$ 0	$ 4,471,000
Number positions eliminated \| Employees					30
Decommissioning expense					$ 1,185,000
2016 Restructuring [Member] \| Longford Mills [Member] \| Surfactants [Member] \| Termination Benefits [Member]
Restructuring Cost And Reserve [Line Items]
Business restructuring					1,594,000
2016 Restructuring [Member] \| Longford Mills [Member] \| Surfactants [Member] \| Other Expense [Member]
Restructuring Cost And Reserve [Line Items]
Business restructuring					$ 4,430,000
2016 Asset Impairments [Member] \| Surfactants [Member]
Restructuring Cost And Reserve [Line Items]
Asset impairment charges				$ 4,247,000
2016 Asset Impairments [Member] \| United States [Member] \| Nonionic Surfactants [Member]
Restructuring Cost And Reserve [Line Items]
Asset impairment charges				2,297,000
2016 Asset Impairments [Member] \| Brazil [Member] \| Bahia Plant
Restructuring Cost And Reserve [Line Items]
Asset impairment charges				$ 1,950,000
2016 Asset Impairments [Member] \| Brazil [Member] \| Bahia Plant \| Take-Or-Pay Contract [Member] \| Net Sales [Member]
Restructuring Cost And Reserve [Line Items]
Compensation for lost future revenues							$ 4,250,000

Business Restructuring and Asset Impairments - Reconciliation of Restructuring Liability (Detail) - 2016 Restructuring [Member] - Longford Mills [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Restructuring Cost And Reserve [Line Items]
Restructuring liability	$ 691	$ 1,985
Expense recognized	1,185	2,022
Amounts paid	(1,506)	(3,389)
Foreign currency translation	(27)	73
Restructuring liability	343	691
Termination Benefits [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring liability	592	1,548
Amounts paid	(312)	(1,012)
Foreign currency translation	(20)	56
Restructuring liability	260	592
Other Expense [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring liability	99	437
Expense recognized	1,185	2,022
Amounts paid	(1,194)	(2,377)
Foreign currency translation	(7)	17
Restructuring liability	$ 83	$ 99

Customer Claims - Additional Information (Detail) - Surfactants [Member]	3 Months Ended		12 Months Ended
	Dec. 31, 2017 USD ($) Claim	Dec. 31, 2016 Claim	Dec. 31, 2016 USD ($)
Loss Contingencies [Line Items]
Number of customer claims \| Claim		2
Insurance claims reserve amount \| $			$ 7,367,000
Claim paid \| $	$ 2,709,000
Number of claims and reversed \| Claim	1

Statement of Cash Flows - Noncash Investing and Financing Activities - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Supplemental Cash Flow Elements [Line Items]
Noncash investing activities incurred for fixed asset acquisitions	$ 15,119,000	$ 12,600,000	$ 10,410,000
Common Stock [Member] \| Stock Award Plan [Member]
Supplemental Cash Flow Elements [Line Items]
Noncash financing activities shares issued	99,497	35,372
Noncash financing activities issued value	$ 7,931,000	$ 2,941,000
Tebras And PBC [Member]
Supplemental Cash Flow Elements [Line Items]
Noncash investing activities unpaid working capital adjustments related to 2016 acquisitions			$ 4,459,000

Selected Quarterly Financial Data (Detail) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Net Sales

$ 466,659

$ 507,997

$ 519,866

$ 499,335

$ 473,823

$ 487,814

$ 495,101

$ 468,269

$ 1,993,857

^[1]

$ 1,925,007

^[1]

$ 1,766,166

^[1]

Gross Profit

78,528

84,125

89,280

89,570

80,839

75,576

89,988

92,119

341,503

^[2]

338,522

^[2]

339,269

^[2]

Income Before Income Taxes

39,385

27,694

44,685

39,655

31,398

30,434

39,133

46,230

151,419

^[2]

147,195

^[2]

127,830

^[2]

Interest, net

(2,151)

(2,797)

(2,672)

(3,151)

(2,826)

(2,763)

(2,863)

(2,992)

(10,771)

(11,444)

(13,205)

34,519

25,243

42,497

37,664

28,532

29,312

37,063

44,330

139,923

139,237

113,816

Net Income

26,943

22,168

32,923

30,716

9,886

21,853

27,896

31,912

112,750

91,547

86,198

Net income attributable to Stepan Company

$ 26,946

$ 22,168

$ 32,925

$ 30,723

$ 9,884

$ 21,899

$ 27,882

$ 31,913

$ 112,762

$ 91,578

$ 86,191

Diluted earnings per share

$ 1.16

$ 0.95

$ 1.41

$ 1.31

$ 0.42

$ 0.94

$ 1.19

$ 1.37

$ 4.83

$ 3.92

$ 3.73

[1]	Net sales are attributed to countries based on the location of the Company facility making the sales.
[2]	The 2017 and 2016 amounts for the noted line items have been immaterially changed from the amounts originally reported as a result of the Company’s first quarter 2018 adoption of ASU No. 2017-7, Compensation –Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-Section 55
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263

+ Details

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details