Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Computations of Basic and Diluted Earnings Per Share

Below are the computations of basic and diluted earnings per share for the three and nine months ended September 30, 2022 and 2021:

(In thousands, except per share amounts)	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Computation of Basic Earnings per Share
Net income attributable to Stepan Company	$	39,384	$	36,920	$	136,319	$	120,809
Weighted-average number of common shares    outstanding		22,753		22,898		22,813		22,941
Basic earnings per share	$	1.73	$	1.61	$	5.98	$	5.27
Computation of Diluted Earnings per Share
Net income attributable to Stepan Company	$	39,384	$	36,920	$	136,319	$	120,809
Weighted-average number of shares outstanding		22,753		22,898		22,813		22,941
Add weighted-average net shares from assumed    exercise of options (under treasury stock method)(1)		102		124		105		139
Add weighted-average net shares related to unvested    stock awards (under treasury stock method)		2		—		1		1
Add weighted-average net shares from assumed    exercise of SARs (under treasury stock method)(1)		108		142		111		168
Add weighted-average contingently issuable net   shares related to performance stock awards   (under treasury stock method)		69		55		59		50
Weighted-average shares applicable to diluted    earnings		23,034		23,219		23,089		23,299
Diluted earnings per share	$	1.71	$	1.59	$	5.90	$	5.19

(1)336,727 and 346,044 options/SARs to acquire shares of Company common stock were excluded from the computation of dilutive earnings per share for the three and nine months ended September 30, 2022, respectively. 207,598 and 69,199 options/SARs to acquire shares of Company common stock were excluded from the computations of diluted earnings per share for the three and nine months ended September 30, 2021, respectively. Inclusion of the instruments would have had an antidilutive effect on the computations of the earnings per share.