Stepan (SCL) 10-Q 8 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Jul. 31, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Trading Symbol	SCL
Entity Registrant Name	STEPAN COMPANY
Entity Current Reporting Status	Yes
Entity Central Index Key	0000094049
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		22,493,691
Entity Tax Identification Number	36-1823834
Entity File Number	1-4462
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	1101 Skokie Boulevard
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Northbrook
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60062
City Area Code	847
Local Phone Number	446-7500
Security Exchange Name	NYSE
Title of 12(b) Security	Common Stock, $1 par value
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net Sales	$ 556,405	$ 579,975	$ 1,107,823	$ 1,231,411
Cost of Sales	486,853	513,578	967,990	1,091,454
Gross Profit	69,552	66,397	139,833	139,957
Operating Expenses:
Selling	11,828	11,109	23,216	24,176
Administrative	24,569	22,589	47,259	45,228
Research, development and technical services	14,093	14,105	28,349	29,243
Deferred compensation expense	395	743	2,173	2,245
Total Operating expenses	50,885	48,546	100,997	100,892
Business restructuring expense		42		199
Operating Income	18,667	17,809	38,836	38,866
Other Income (Expense):
Interest, net	(2,661)	(3,865)	(5,732)	(6,687)
Other, net (Note 15)	1,200	2,370	3,562	4,038
Nonoperating Income (Expense), Total	(1,461)	(1,495)	(2,170)	(2,649)
Income Before Provision for Income Taxes	17,206	16,314	36,666	36,217
Provision for Income Taxes	7,685	3,630	13,252	7,391
Net Income	$ 9,521	$ 12,684	$ 23,414	$ 28,826
Net Income Per Common Share (Note 10):
Basic	$ 0.42	$ 0.56	$ 1.03	$ 1.27
Diluted	$ 0.42	$ 0.55	$ 1.02	$ 1.25
Shares Used to Compute Net Income Per Common Share (Note 10):
Basic	22,827	22,768	22,825	22,763
Diluted	22,936	22,945	22,942	22,970

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net Income	$ 9,521	$ 12,684	$ 23,414	$ 28,826
Other Comprehensive Income:
Foreign currency translation adjustments (Note 11)	(25,411)	16,497	(31,962)	34,920
Defined benefit pension adjustments, net of tax (Note 11)	57	60	115	118
Derivative instrument activity, net of tax (Note 11)	(280)	1,621	549	104
Total Other Comprehensive Income	(25,634)	18,178	(31,298)	35,142
Comprehensive Income	$ (16,113)	$ 30,862	$ (7,884)	$ 63,968

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 124,708	$ 129,823
Receivables, net	437,349	422,050
Inventories (Note 6)	266,011	265,558
Other current assets	39,072	34,452
Total current assets	867,140	851,883
Property, Plant and Equipment:
Cost	2,611,677	2,585,058
Less: Accumulated depreciation	(1,416,560)	(1,378,393)
Property, plant and equipment, net	1,195,117	1,206,665
Goodwill, net	94,377	97,442
Other intangible assets, net	47,652	52,571
Long-term investments (Note 3)	24,076	26,804
Operating lease assets (Note 7)	69,136	70,646
Other non-current assets	51,092	57,343
Total assets	2,348,590	2,363,354
Current Liabilities:
Current maturities of debt (Note 14)	282,350	252,898
Accounts payable	251,191	233,031
Accrued liabilities	121,654	121,941
Total current liabilities	655,195	607,870
Deferred income taxes	10,224	10,373
Long-term debt, less current maturities (Note 14)	374,708	401,248
Non-current operating lease liabilities (Note 7)	56,665	58,026
Other non-current liabilities	59,362	69,347
Commitments and Contingencies (Note 8)
Equity:
Common stock, $1 par value; authorized 60,000,000 shares; 27,142,160 issued shares in 2024 and 27,005,852 issued shares in 2023	27,142	27,006
Additional paid-in capital	250,945	247,032
Accumulated other comprehensive loss (Note 11)	(161,900)	(130,602)
Retained earnings	1,264,027	1,257,466
Less: Common treasury stock, at cost, 4,652,346 shares in 2024 and 4,628,072 shares in 2023	(187,778)	(184,412)
Total Stepan Company stockholders’ equity	1,192,436	1,216,490
Total liabilities and equity	$ 2,348,590	$ 2,363,354

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares issued	27,142,160	27,005,852
Treasury stock, shares	4,652,346	4,628,072

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash Flows From Operating Activities
Net income	$ 23,414	$ 28,826
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	55,614	52,011
Deferred compensation	2,173	2,245
Realized and unrealized gains on long-term investments	(2,946)	(3,079)
Stock-based compensation	2,930	2,158
Deferred income taxes	6,393	(3,196)
Other non-cash items	977	681
Changes in assets and liabilities:
Receivables, net	(27,345)	22,760
Inventories	(9,686)	70,069
Other current assets	(5,095)	(9,543)
Accounts payable and accrued liabilities	26,602	(116,527)
Pension liabilities	(943)	(998)
Environmental and legal liabilities	171	(8,612)
Deferred revenues	(1,203)	(993)
Net Cash Provided By Operating Activities	71,056	35,802
Cash Flows From Investing Activities
Expenditures for property, plant and equipment	(59,867)	(159,900)
Other, net	5,831	1,669
Net Cash Used In Investing Activities	(54,036)	(158,231)
Cash Flows From Financing Activities
Revolving debt and bank overdrafts, net (Note 14)	27,379	109,448
Other debt repayments (Note 6)	(24,286)	(14,286)
Dividends paid	(16,853)	(16,317)
Stock option exercises	966	1,916
Other, net	(3,211)	(2,805)
Net Cash Provided By (Used In) Financing Activities	(16,005)	77,956
Effect of Exchange Rate Changes on Cash	(6,130)	4,652
Net Decrease in Cash and Cash Equivalents	(5,115)	(39,821)
Cash and Cash Equivalents at Beginning of Period	129,823	173,750
Cash and Cash Equivalents at End of Period	124,708	133,929
Supplemental Cash Flow Information
Cash payments of income taxes, net of refunds	6,022	19,777
Cash payments of interest	$ 14,022	$ 13,492

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 9,521	$ 12,684	$ 23,414	$ 28,826

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Condensed Consolidated Financia

Condensed Consolidated Financial Statements	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Condensed Consolidated Financial Statements	1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The condensed consolidated financial statements included herein have been prepared by Stepan Company (the Company), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) have been condensed or omitted pursuant to such rules and regulations, although management believes that the disclosures are adequate and make the information presented not misleading. In the opinion of management, all adjustments, consisting only of normal recurring accruals, necessary to present fairly the Company’s financial position as of June 30, 2024, its results of operations for the three and six months ended June 30, 2024 and 2023 and cash flows for the six months ended June 30, 2024 and 2023, have been included. These financial statements and related footnotes should be read in conjunction with the financial statements and related footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (2023 Annual Report on Form 10-K).

Reconciliations of Equity

Reconciliations of Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Reconciliations of Equity	2. RECONCILIATIONS OF EQUITY Below are reconciliations of total equity for the three and six months ended June 30, 2024 and 2023: (In thousands, except share and per share amounts) Total Common Additional Common Accumulated Retained Balance, March 31, 2024 $ 1,214,522 $ 27,125 $ 248,337 $ ( 187,611 ) $ ( 136,266 ) $ 1,262,937 Issuance of 2,456 shares of 101 2 99 — — — Stock-based and deferred compensation 2,357 15 2,509 ( 167 ) — — Net income 9,521 — — — — 9,521 Other comprehensive income ( 25,634 ) — — — ( 25,634 ) — Cash dividends paid: Common stock ($ 0.375 per share) ( 8,431 ) — — — — ( 8,431 ) Balance, June 30, 2024 $ 1,192,436 $ 27,142 $ 250,945 $ ( 187,778 ) $ ( 161,900 ) $ 1,264,027 (In thousands, except share and per share amounts) Total Common Additional Common Accumulated Retained Balance, December 31, 2023 $ 1,216,490 $ 27,006 $ 247,032 $ ( 184,412 ) $ ( 130,602 ) $ 1,257,466 Issuance of 23,124 shares of common 966 23 943 — — — Stock-based and deferred compensation ( 283 ) 113 2,970 ( 3,366 ) — — Net income 23,414 — — — — 23,414 Other comprehensive income ( 31,298 ) — — — ( 31,298 ) — Cash dividends paid: Common stock ($ 0.750 per share) ( 16,853 ) — — — — ( 16,853 ) Balance, June 30, 2024 $ 1,192,436 $ 27,142 $ 250,945 $ ( 187,778 ) $ ( 161,900 ) $ 1,264,027 (In thousands, except share and per share amounts) Total Common Additional Common Accumulated Retained Balance, March 31, 2023 $ 1,189,913 $ 26,958 $ 239,585 $ ( 184,194 ) $ ( 150,548 ) $ 1,258,112 Issuance of 6,791 shares of 402 7 395 — — — Stock-based and deferred compensation 2,077 13 2,235 ( 171 ) — — Net income 12,684 — — — — 12,684 Other comprehensive income 18,178 — — — 18,178 — Cash dividends paid: Common stock ($ 0.365 per share) ( 8,157 ) — — — — ( 8,157 ) Balance, June 30, 2023 $ 1,215,097 $ 26,978 $ 242,215 $ ( 184,365 ) $ ( 132,370 ) $ 1,262,639 (In thousands, except share and per share amounts) Total Common Additional Common Accumulated Retained Balance, December 31, 2022 $ 1,166,065 $ 26,841 $ 237,202 $ ( 180,596 ) $ ( 167,512 ) $ 1,250,130 Issuance of 32,772 shares of common 1,916 33 1,883 — — — Stock-based and deferred compensation ( 535 ) 104 3,130 ( 3,769 ) — — Net income 28,826 — — — — 28,826 Other comprehensive income 35,142 — — — 35,142 — Cash dividends paid: Common stock ($ 0.730 per share) ( 16,317 ) — — — — ( 16,317 ) Balance, June 30, 2023 $ 1,215,097 $ 26,978 $ 242,215 $ ( 184,365 ) $ ( 132,370 ) $ 1,262,639

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. FAIR VALUE MEASUREMENTS Derivative assets and liabilities include the foreign currency exchange and interest rate swap contracts discussed in Note 4, Derivative Instruments , of the notes to the Company’s condensed consolidated financial statements (included in Item 1 of this Form 10-Q). 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. The fair value of the interest rate swap was calculated as the difference between the contracted swap rate and the floating interest rate multiplied by the present value of the notional amount of the contract. At June 30, 2024, and December 31, 2023 , 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 $ 650,000 and $ 895,000 as of June 30, 2024 and December 31, 2023, respectively): (In thousands) June 30, December 31, Fair value $ 625,466 $ 627,695 Carrying value 657,708 655,041 The following tables present financial assets and liabilities, excluding cash and cash equivalents, measured on a recurring basis at fair value as of June 30, 2024, and December 31, 2023, and the level within the fair value hierarchy in which the fair value measurements fall: (In thousands) June 30, Level 1 Level 2 Level 3 Mutual fund assets $ 24,076 $ 24,076 $ — $ — Derivative assets: Interest rate contracts 6,736 — 6,736 — Foreign currency contracts 896 — 896 — Total assets at fair value $ 31,708 $ 24,076 $ 7,632 $ — Derivative liabilities: Foreign currency contracts $ 510 $ — $ 510 $ — (In thousands) December 31, Level 1 Level 2 Level 3 Mutual fund assets $ 26,804 $ 26,804 $ — $ — Derivative assets: Interest rate contracts 6,183 — 6,183 — Foreign currency contracts 1,018 — 1,018 — Total assets at fair value $ 34,005 $ 26,804 $ 7,201 $ — Derivative liabilities: Foreign currency contracts $ 928 $ — $ 928 $ —

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	4. DERIVATIVE INSTRUMENTS At June 30, 2024, and December 31, 2023 , the Company had open forward foreign currency exchange contracts to buy or sell foreign currencies with U.S. dollar equivalent amounts of $ 98,190,000 and $ 106,561,000 , respectively. All forward foreign exchange contracts at June 30, 2024 , had durations of one month to three months . The Company is currently exposed to volatility in short-term interest rates and has mitigated certain portions of that risk by using an interest rate swap. The interest rate swap is recognized on the balance sheet as either an asset or a liability measured at fair value. At June 30, 2024 , the Company held an interest rate swap contract with a notional value of $ 100,000,000 that was designated as a cash flow hedge. Period-to-period changes in the fair value of the interest rate swap are initially recognized as gains or losses in other comprehensive income. As the interest rate swap contract is settled, the corresponding gain or loss is reclassified out of accumulated other comprehensive income (AOCI) into earnings. The maturity date of the current interest swap contract is March 10, 2027 , which is closely aligned with the June 24, 2027 , maturity of the Company's revolving credit facility. The fair values of the derivative instruments held by the Company on June 30, 2024, and December 31, 2023, are disclosed in Note 3, Fair Value Measurements , of the notes to the Company’s condensed consolidated financial statements (included in Item 1 of this Form 10-Q). Derivative instrument gains and losses for the three and six months ended June 30, 2024 and 2023, were immaterial. For amounts reclassified out of AOCI into earnings for the three and six months ended June 30, 2024 and 2023, see Note 11, Accumulated Other Comprehensive Income (Loss) , of the notes to the Company’s condensed consolidated financial statements (included in Item 1 of this Form 10-Q).

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	5. STOCK-BASED COMPENSATION Compensation expense recorded for all stock options, performance shares, time-based restricted stock units (RSUs) and stock appreciation rights (SARs) was as follows: (In thousands) Three Months Ended Six Months Ended 2024 2023 2024 2023 $ 1,558 $ 1,158 $ 2,930 $ 2,157 Unrecognized compensation costs for stock options, performance shares, RSUs and SARs were as follows: (In thousands) June 30, December 31, Stock options $ 180 $ 127 Performance shares and RSUs 4,936 3,761 SARs 4,632 3,648 The change in unrecognized compensation costs for stock options, performance shares, RSUs and SARs is due to new grants issued in 2024. The Company granted the following awards in the first six months of 2024: Shares Stock options 3,356 Performance shares (at target) and RSUs 105,826 SARs 90,201 The unrecognized compensation costs at June 30, 2024 , are expected to be recognized over weighted-average periods of 2.0 years for stock options, performance shares and RSUs and SARs.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	6. INVENTORIES The composition of inventories at June 30, 2024, and December 31, 2023, was as follows: (In thousands) June 30, December 31, Finished goods $ 180,598 $ 184,828 Raw materials 85,413 80,730 Total inventories $ 266,011 $ 265,558

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	7. LEASES Lease cost is recognized in both the Cost of Sales and Operating Expenses sections of the Condensed Consolidated Statements of Income. (In thousands) Three Months Ended Six Months Ended 2024 2023 2024 2023 Lease Cost Operating lease cost $ 4,468 $ 4,458 $ 8,961 $ 8,807 Short-term lease cost 3,249 2,739 5,936 5,518 Variable lease cost 422 603 865 1,160 Total lease cost $ 8,139 $ 7,800 $ 15,762 $ 15,485 Other Information Cash paid for amounts included in the Operating cash flow from operating leases $ 4,477 $ 4,497 $ 8,965 $ 8,829 Right-of-use assets obtained in exchange 559 875 1,548 7,420 The following table outlines the maturities of lease liabilities as of June 30, 2024. (In thousands) Undiscounted Cash Flows: 2024 (excluding the six months ended June 30, 2024) $ 8,693 2025 13,664 2026 10,406 2027 7,838 2028 6,796 Subsequent to 2028 35,254 Total Undiscounted Cash Flows $ 82,651 Less: Imputed interest ( 12,406 ) Present value $ 70,245 Current operating lease liabilities (1) 13,580 Non-current operating lease liabilities 56,665 Total lease liabilities $ 70,245 (1) This item is included in the Accrued liabilities line on the Company’s Condensed Consolidated Balance Sheet. Weighted-average remaining lease term-operating leases 9 Years Weighted-average discount rate-operating leases 3.9 % As of June 30, 2024 , the Company had an office equipment lease, valued at approximately $ 888,000 , that had not commenced. The lease will commence during the third quarter of 2024 with a lease term of five years .

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	8. 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 assessment, protection and remediation 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 the U.S. Comprehensive Environmental Response, Compensation and Liability Act of 1980 (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 potentially responsible party at a number of sites where cleanup costs have been or may be incurred by the Company under CERCLA and similar state statutes. In addition, the Company is from time to time involved in routine legal proceedings incidental to the conduct of its business, including personal injury, property damage, tax, trade and labor matters. The Company believes that it has made adequate provisions for the costs it is likely to incur with respect to these claims. In determining the appropriate level of environmental reserves, the Company considers several factors such as information obtained from investigatory studies; changes in the scope of remediation; the interpretation, application and enforcement of laws and regulations; changes in the costs of remediation programs; the development of alternative cleanup technologies and methods; and the relative level of the Company’s involvement at various sites for which the Company is allegedly associated. The level of annual expenditures for remedial, monitoring and investigatory activities will change in the future as major components of planned remediation activities are completed and the scope, timing and costs of existing activities are changed. As of June 30, 2024 , the Company estimated a range of possible environmental losses and legal losses of $ 20,816,000 to $ 48,104,000 . Within the range of possible environmental losses and legal losses, management has currently concluded that no single amount is more likely to occur than any other amounts in the range and, thus, has accrued at the lower end of the range. These accruals totaled $ 20,816,000 at June 30, 2024 , and $ 20,646,000 at December 31, 2023. A lthough the Company believes that its estimated range of possible environmental losses and legal losses and its reserves are adequate for contingencies, it is possible, due to uncertainties including those noted above, that additional reserves could be required in the future. Cash expenditures related to environmental remediation and certain other legal matters approximated $ 1,982,000 and $ 8,882,000 for the six months ended June 30, 2024 and 2023, respectively. 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 on 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 material 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 Company’s major contingencies at June 30, 2024: Maywood, New Jersey Site The Company’s property in Maywood, New Jersey, property formerly owned by the Company adjacent to its current site and other nearby properties (collectively, the Maywood site) were listed on the National Priorities List in September 1993 pursuant to the provisions of CERCLA because of alleged chemical and radiological contamination. Pursuant to (i) a September 21, 1987 Administrative Order on Consent entered into between the U.S. Environmental Protection Agency (USEPA) and the Company for property formerly owned by the Company at the Maywood site and (ii) the issuance of an order on May 2, 1991 by the USEPA to the Company for property currently owned by the Company at the Maywood site, the Company has completed various Remedial Investigation/Feasibility Studies of soil and groundwater at the Maywood site. On September 24, 2014, the USEPA issued its Record of Decision (ROD) for chemically-contaminated soil at the Maywood site. The ROD was amended pursuant to an Explanation of Significant Differences in January 2021. On February 29, 2024, the U.S. District Court for the District of New Jersey entered a consent decree among the Company, the United States, the New Jersey Department of Environmental Protection (NJDEP) and the New Jersey Spill Compensation Fund Administrator that requires the Company to take certain actions and to pay certain past costs of the United States and NJDEP. The USEPA has not yet issued a ROD for chemically-contaminated groundwater at the Maywood site. Based on the most current information available, the Company believes its recorded liability is reasonable having considered the range of estimated costs of remediation for the Maywood site. The estimate of the cost of remediation for the Maywood site could change again as the Company continues to hold discussions with the USEPA, as the design of the remedial action is finalized, if a groundwater ROD is issued or if other potentially responsible parties are identified. The ultimate amount for which the Company is liable could differ materially from the Company’s current recorded liability. D’Imperio Property Site During the mid-1970’s, Jerome Lightman and the Lightman Drum Company disposed of hazardous substances generated by the Company at several sites in New Jersey, including the D’Imperio site. The Company was named as a potentially responsible party in an October 2, 1998 lawsuit in the U.S. District Court for the District of New Jersey that involved the D’Imperio Site. The Company is cooperating with other potentially responsible parties to implement the selected remedy. 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 materially from the Company’s current recorded liability. Wilmington Site Property formerly owned and operated by the Company in Wilmington, Massachusetts was listed on the National Priorities List in 2006. The Company, together with the current site owner and another potentially responsible party, entered into an Administrative Order on Consent in July 2007 to undertake a Remedial Investigation and Feasibility Study. A ROD was issued by the USEPA on March 30, 2021. The Company and three other potentially responsible parties entered into a consent decree, dated September 28, 2023, with USEPA and the Commonwealth of Massachusetts that requires the remedial design and remedial action of the remedy selected in the ROD for two operable units and an interim remedy for another operable unit. Remediation at this site is being managed by its current owner, to whom the Company sold the property in 1980. The Company is contractually obligated to contribute up to five percent of the environmental response costs incurred by the current owner, with no limitation on the ultimate amount of contributions. The Company has paid the current owner $ 3,841,000 for the Company’s portion of environmental response costs at the Wilmington site through June 30, 2024. 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 materially from the current recorded liability. On July 29, 2022, the Company and other potentially responsible parties were notified of a possible joint claim by federal and state trustees for alleged natural resource damages related to the Wilmington site. The alleged damages may result in a range of possible penalties and the Company recorded a liability for this matter during the first quarter of 2024. Depending on the ultimate resolution of this matter, the amount for which the Company is liable could differ materially from the current recorded liability. Millsdale Site On March 26, 2024, the Company received a Notice and Finding of Violation from the USEPA alleging violations of air regulations at the Company’s Elwood, Illinois (Millsdale) facility. The notice alleges violations related to operating parameters and air emission requirements. The notice does not state whether the USEPA intends to pursue financial penalties or operational remedies. The alleged violations may result in a range of possible penalties; however, at this stage of the matter, the Company is unable to predict the ultimate outcome or what impact, if any, the outcome might have on the Company’s financial position, results of operations or cash flows. 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 its Millsdale and Fieldsboro, New Jersey 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. Based on current information, the Company believes that its recorded liability for the remediation of the affected areas is appropriate based on an estimate of expected costs. However, actual costs could differ materially from the current recorded liability.

Postretirement Benefit Plans

Postretirement Benefit Plans	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Postretirement Benefit Plans	9. POSTRETIREMENT BENEFIT PLANS Defined Benefit Pension 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 U.S. and U.K. defined benefit pension plans are frozen and service benefits are no longer being accrued. Components of Net Periodic Benefit Cost UNITED STATES (In thousands) Three Months Ended Six Months Ended 2024 2023 2024 2023 Interest cost $ 1,652 $ 1,731 $ 3,303 $ 3,462 Expected return on plan assets ( 2,124 ) ( 2,133 ) ( 4,240 ) ( 4,266 ) Amortization of net actuarial loss ( 3 ) ( 6 ) ( 6 ) ( 12 ) Net periodic benefit cost $ ( 475 ) $ ( 408 ) $ ( 943 ) $ ( 816 ) UNITED KINGDOM (In thousands) Three Months Ended Six Months Ended 2024 2023 2024 2023 Interest cost $ 160 $ 169 $ 321 $ 333 Expected return on plan assets ( 182 ) ( 175 ) ( 365 ) ( 345 ) Amortization of net actuarial loss 80 84 160 165 Net periodic benefit cost $ 58 $ 78 $ 116 $ 153 Employer Contributions U.S. Plans As a result of pension funding relief provisions included in the Highway and Transportation Funding Act of 2014, the Company is not required to make contributions to its funded U.S. qualified defined benefit plans. Approximately $ 238,000 is expected to be paid to the unfunded non-qualified plans in 2024 . Of such amount, $ 181,000 had been paid to the non-qualified plans as of June 30, 2024. U.K. Plan The Company’s U.K. subsidiary does not expect to contribute to its defined benefit pension plan in 2024. Defined Contribution Plans The Company sponsors retirement defined contribution 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 (profit sharing plan), and one non-qualified supplemental executive plan. In the six months ended June 30, 2024 and 2023 , the Company made 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. Approximately 85 percent of union and non-union employees are eligible for either the Company's sponsored or statutory profit sharing contributions and 100 percent of U.S. based union and non-union employees are eligible for the Company's sponsored profit sharing contributions. In 2023 and 2024, profit sharing contributions for U.S. employees were made to the employee stock ownership plan. Profit sharing contributions are allocated to participant accounts based on participant base earnings. Defined contribution plan expenses for the Company’s qualified contribution plans were as follows: (In thousands) Three Months Ended Six Months Ended 2024 2023 2024 2023 Retirement savings contributions $ 2,295 $ 2,170 $ 4,420 $ 4,218 Profit sharing contributions 684 163 1,532 870 Total defined contribution plan expenses $ 2,979 $ 2,333 $ 5,952 $ 5,088 The Company has a rabbi trust to fund the obligations of its non-qualified supplemental executive defined contribution plans (supplemental plans). The trust is comprised of 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 condensed consolidated balance sheets. 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 condensed consolidated statements of income. The liabilities related to the supplemental plans increase (i.e., supplemental plan expense is recognized) when the value of the trust assets appreciate and decrease when the value of the trust assets decline (i.e., supplemental plan income is recognized). At June 30, 2024 , the balance of the trust assets was $ 455,000 , which equaled the balance of the supplemental plan liabilities. See the long-term investments section in Note 3, Fair Value Measurements , of the notes to the Company’s condensed consolidated financial statements (included in Item 1 of this Form 10-Q) for further information regarding the Company’s mutual fund assets.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	10. EARNINGS PER SHARE Below are the computations of basic and diluted earnings per share for the three and six months ended June 30, 2024 and 2023: (In thousands, except per share amounts) Three Months Ended Six Months Ended 2024 2023 2024 2023 Computation of Basic Earnings per Share Net income attributable to Stepan Company $ 9,521 $ 12,684 $ 23,414 $ 28,826 Weighted-average number of common shares 22,827 22,768 22,825 22,763 Basic earnings per share $ 0.42 $ 0.56 $ 1.03 $ 1.27 Computation of Diluted Earnings per Share Net income attributable to Stepan Company $ 9,521 $ 12,684 $ 23,414 $ 28,826 Weighted-average number of shares outstanding 22,827 22,768 22,825 22,763 Add weighted-average net shares from assumed (1) 34 71 41 85 Add weighted-average net shares related to unvested 8 3 6 2 Add weighted-average net shares from assumed (1) 45 73 49 90 Add weighted-average contingently issuable net 22 30 21 30 Weighted-average shares applicable to diluted 22,936 22,945 22,942 22,970 Diluted earnings per share $ 0.42 $ 0.55 $ 1.02 $ 1.25 (1) 899,151 and 849,588 options/SARs to acquire shares of the Company's common stock were excluded from the computation of dilutive earnings per share for the three and six months ended June 30, 2024 , respectively. The options/SARs' exercise prices were greater than the average market price for the Company's common stock and inclusion of the instruments would have had an antidilutive effect on the computations of the earnings per share. 644,962 and 524,337 options/SARs to acquire shares of the Company's common stock were excluded from the computation of dilutive earnings per share for the three and six months ended June 30, 2023 , respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	11. 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 three and six months ended June 30, 2024 and 2023: (In thousands) Foreign Defined Cash Flow Total Balance at March 31, 2023 $ ( 138,412 ) $ ( 19,021 ) $ 6,885 $ ( 150,548 ) Other comprehensive income before 16,497 — 1,623 18,120 Amounts reclassified from AOCI — 60 ( 2 ) 58 Net current-period other comprehensive income 16,497 60 1,621 18,178 Balance at June 30, 2023 $ ( 121,915 ) $ ( 18,961 ) $ 8,506 $ ( 132,370 ) Balance at March 31, 2024 $ ( 122,963 ) $ ( 20,350 ) $ 7,047 $ ( 136,266 ) Other comprehensive income before ( 25,411 ) — ( 278 ) ( 25,689 ) Amounts reclassified from AOCI — 57 ( 2 ) 55 Net current-period other comprehensive income ( 25,411 ) 57 ( 280 ) ( 25,634 ) Balance at June 30, 2024 $ ( 148,374 ) $ ( 20,293 ) $ 6,767 $ ( 161,900 ) Balance at December 31, 2022 $ ( 156,835 ) $ ( 19,079 ) $ 8,402 $ ( 167,512 ) Other comprehensive income before 34,920 — 109 35,029 Amounts reclassified from AOCI — 118 ( 5 ) 113 Net current-period other comprehensive income 34,920 118 104 35,142 Balance at June 30, 2023 $ ( 121,915 ) $ ( 18,961 ) $ 8,506 $ ( 132,370 ) Balance at December 31, 2023 $ ( 116,412 ) $ ( 20,408 ) $ 6,218 $ ( 130,602 ) Other comprehensive income before ( 31,962 ) — 553 ( 31,409 ) Amounts reclassified from AOCI — 115 ( 4 ) 111 Net current-period other comprehensive income ( 31,962 ) 115 549 ( 31,298 ) Balance at June 30, 2024 $ ( 148,374 ) $ ( 20,293 ) $ 6,767 $ ( 161,900 ) Information regarding the reclassifications out of AOCI for the three and six months ended June 30, 2024 and 2023, is displayed below: (In thousands) Amount Reclassified from AOCI (1) AOCI Components Three Months Ended Six Months Ended Affected Line Item in 2024 2023 2024 2023 Amortization of defined benefit $ ( 77 ) $ ( 78 ) $ ( 154 ) $ ( 153 ) (2) 20 18 39 35 Tax benefit $ ( 57 ) $ ( 60 ) $ ( 115 ) $ ( 118 ) Net of tax Gains and losses on cash flow Foreign exchange contracts 2 2 4 5 Cost of sales 2 2 4 5 Total before tax — — — — Tax benefit $ 2 $ 2 $ 4 $ 5 Net of tax Total reclassifications for the period $ ( 55 ) $ ( 58 ) $ ( 111 ) $ ( 113 ) Net of tax (1) A mounts in parentheses denote expense to the Company’s Condensed Consolidated Statements of Income. (2) This component of accumulated other comprehensive income is included in the computation of net periodic benefit cost. See Note 9, Postretirement Benefit Plans , of the notes to the Company’s condensed consolidated financial statements (included in Item 1 of this Form 10-Q) for additional details.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Reporting	12. SEGMENT REPORTING The Company has three reportable segments: Surfactants, Polymers and Specialty Products. Net sales by segment for the three and six months ended June 30, 2024 and 2023, were as follows: (In thousands) Three Months Ended Six Months Ended 2024 2023 2024 2023 Segment Net Sales Surfactants $ 379,795 $ 391,686 $ 770,615 $ 859,514 Polymers 159,757 164,515 305,265 325,642 Specialty Products 16,853 23,774 31,943 46,255 Total $ 556,405 $ 579,975 $ 1,107,823 $ 1,231,411 Segment operating income and reconciliations of segment operating income to income before provision for income taxes for the three and six months ended June 30, 2024 and 2023, are summarized below: (In thousands) Three Months Ended Six Months Ended 2024 2023 2024 2023 Segment Operating Income Surfactants $ 17,062 $ 15,140 $ 43,142 $ 42,196 Polymers 13,597 16,321 21,979 26,325 Specialty Products 7,319 3,773 11,587 6,302 Segment operating income 37,978 35,234 76,708 74,823 Business restructuring expense — ( 42 ) — ( 199 ) Unallocated corporate expenses (1) ( 19,311 ) ( 17,383 ) ( 37,872 ) ( 35,758 ) Total operating income 18,667 17,809 38,836 38,866 Other Income (Expense) Interest, net ( 2,661 ) ( 3,865 ) ( 5,732 ) ( 6,687 ) Other, net 1,200 2,370 3,562 4,038 Income before provision for income taxes $ 17,206 $ 16,314 $ 36,666 $ 36,217 (1) Unallocated corporate expenses are primarily comprised of 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 are not used to evaluate segment performance. Unallocated corporate expenses for the three and six months periods ended June 30, 2024 also include a $ 3,500,000 pre-tax charge related to a criminal social engineering scheme that impacted one of the Company's Asia subsidiaries. See Note 17, Other Matter , below for detailed information about the charge.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	13. REVENUE FROM CONTRACTS WITH CUSTOMERS As of June 30, 2024 , the Company had $ 481,000 of contract liabilities and no contract assets. 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. When such situations do arise, the Company maintains a deferred revenue liability until the time a performance obligation has been satisfied. The Company recognized $ 688,000 of revenue in the first six months of 2024 from pre-existing contract liabilities at December 31, 2023. In addition, during 2020, the Company recorded $ 10,709,000 of long-term deferred revenue associated with a payment received to defray the cost of capital expenditures necessary to service a customer’s future product needs. At June 30, 2024 , $ 5,539,000 was classified as long-term and $ 2,216,000 was classified as short-term. This deferred revenue is being recognized over the period of the contract and $ 2,954,000 of revenue has been recognized from the beginning of the contract term through June 30, 2024. The tables below provide a geographic disaggregation of net sales for the three and six months ended June 30, 2024 and 2023. The Company’s business disaggregation by geographic region most effectively captures the nature and economic characteristics of the Company’s revenue streams impacted by economic factors. (In thousands) For the Three Months Ended June 30, 2024 Geographic Market Surfactants Polymers Specialty Total North America $ 220,520 $ 79,828 $ 15,395 $ 315,743 Europe 63,460 67,401 1,322 132,183 Latin America 83,569 326 136 84,031 Asia 12,246 12,202 — 24,448 Total $ 379,795 $ 159,757 $ 16,853 $ 556,405 (In thousands) For the Three Months Ended June 30, 2023 Geographic Market Surfactants Polymers Specialty Total North America $ 231,477 $ 88,149 $ 20,498 $ 340,124 Europe 68,742 65,896 3,174 137,812 Latin America 78,217 273 102 78,592 Asia 13,250 10,197 — 23,447 Total $ 391,686 $ 164,515 $ 23,774 $ 579,975 (In thousands) For the Six Months Ended June 30, 2024 Geographic Market Surfactants Polymers Specialty Total North America $ 450,110 $ 149,637 $ 28,641 $ 628,388 Europe 134,238 131,278 3,157 268,673 Latin America 161,437 743 145 162,325 Asia 24,830 23,607 — 48,437 Total $ 770,615 $ 305,265 $ 31,943 $ 1,107,823 (In thousands) For the Six Months Ended June 30, 2023 Geographic Market Surfactants Polymers Specialty Total North America $ 508,617 $ 169,318 $ 38,097 $ 716,032 Europe 159,861 134,953 8,046 302,860 Latin America 159,315 1,058 112 160,485 Asia 31,721 20,313 — 52,034 Total $ 859,514 $ 325,642 $ 46,255 $ 1,231,411

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	14. DEBT At June 30, 2024 and December 31, 2023, debt was comprised of the following: (In thousands) Maturity June 30, December 31, Senior unsecured notes 3.95 % (net of unamortized debt issuance cost 145 and $ 191 for 2024 and 2023, respectively) 2024 - 2027 $ 56,999 $ 56,952 3.86 % (net of unamortized debt issuance cost 59 and $ 105 for 2024 and 2023, respectively) 2024 - 2025 14,226 28,466 2.30 % (net of unamortized debt issuance cost 110 and $ 142 for 2024 and 2023, respectively) 2024 - 2028 39,890 49,858 2.37 % (net of unamortized debt issuance cost 116 and $ 148 for 2024 and 2023, respectively) 2024 - 2028 49,884 49,852 2.73 % (net of unamortized debt issuance cost 123 and $ 175 for 2024 and 2023, respectively) 2025 - 2031 99,877 99,825 2.83 % (net of unamortized debt issuance cost 97 and $ 134 for 2024 and 2023, respectively) 2026 - 2032 74,903 74,866 Revolving credit facility and term loan borrowing 2024 313,280 283,000 Debt of foreign subsidiaries Unsecured bank debt, foreign currency 2024 7,999 11,327 Total debt $ 657,058 $ 654,146 Less current maturities 282,350 252,898 Long-term debt $ 374,708 $ 401,248 The Company's long-term debt financing is comprised of certain senior unsecured notes issued to insurance companies in private placement transactions pursuant to note purchase agreements (the “Note Purchase Agreements”), totaling $ 335,779,000 as of June 30, 2024 . These notes are denominated in U.S. dollars and have fixed interest rates ranging from 2.30 percent to 3.95 percent. The notes had original maturities of seven to 12 years with mandatory principal payments beginning four, five and six years after issuance . The Company will be required to make principal payments on the currently outstanding notes from 2024 to 2032. The Company's credit agreement (the "Credit Agreement") with a syndicate of banks provides for credit facilities in an initial aggregate principal amount of $ 450,000,000 , consisting of (a) a $ 350,000,000 multi-currency revolving credit facility and (b) a $ 100,000,000 delayed draw term loan credit facility, each of which matures on June 24, 2027 . The Company's credit agreement with Credit Industriel et Commercial NY (the CIC Credit Agreement) provides for a credit facility in an aggregate principal amount of $ 8,700,000 . The facility is for the sole purpose of the issuance of standby letters of credit. The Company maintains import and export letters of credit, and 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 Credit Agreement and under the CIC Credit Agreement. As of June 30, 2024 , the Company had outstanding letters of credit totaling $ 11,747,000 and $ 313,280,000 of outstanding borrowings under the Credit Agreement, inclusive of a $ 92,500,000 delayed draw term loan ($ 7,500,000 of the term loan principal has been permanently repaid as scheduled). There was $ 117,473,000 available under the Credit Agreement as of June 30, 2024 . As of June 30, 2024, the Company had an outstanding letter of credit of $ 8,694,000 under the CIC Credit Agreement. The Company’s material debt agreements contain provisions which, among other covenants, 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 $ 241,925,000 and $ 234,399,000 at June 30, 2024, and December 31, 2023 , respectively.

Other, Net

Other, Net	6 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Other, Net	15. OTHER, NET Other, net in the condensed consolidated statements of income included the following: (In thousands) Three Months Ended Six Months Ended 2024 2023 2024 2023 Foreign exchange gains (losses) $ ( 27 ) $ 406 $ ( 402 ) $ 82 Investment income 131 71 191 214 Realized and unrealized gains on investments 679 1,563 2,946 3,079 Net periodic benefit cost 417 330 827 663 Other, net $ 1,200 $ 2,370 $ 3,562 $ 4,038

Noncash Investing and Financing

Noncash Investing and Financing Activities	6 Months Ended
	Jun. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Noncash Investing and Financing Activities	16. NONCASH INVESTING AND FINANCING ACTIVITIES Noncash investing activities included liabilities (accounts payable) incurred for property, plant and equipment expenditures of approximately $ 9,003,000 and $ 24,101,000 that were unpaid at June 30, 2024 and 2023 , respectively. Noncash financing activities included the issuance of 113,184 shares of the Company’s common stock (valued at $ 10,132,000 ) and 97,590 shares of the Company’s common stock (valued at $ 10,463,000 ) under the Company’s equity incentive compensation plan during the period ended June 30, 2024 and 2023 , respectively.

Other Matter

Other Matter	6 Months Ended
	Jun. 30, 2024
Other Matter [Abstract]
Other Matter	17. OTHER MATTER On July 18, 2024, the Company determined that one of its subsidiaries in Asia had been the victim of a criminal social engineering scheme which resulted in fraudulently induced outbound payments. The Company immediately launched an investigation, led by outside counsel, to determine the full extent of the fraud scheme and related potential exposure. The investigation is ongoing. The Company initiated contact with its banks and law enforcement authorities in an effort to, among other things, recover the transferred funds. To date, the Company has not found any evidence of additional fraudulent activity and believes it was an isolated and contained event. This incident did not result in any unauthorized access to the Company's information systems or any confidential customer information or other data that the Company maintains. The Company recognized a $ 3,500,000 pre-tax charge for the quarter ended June 30, 2024. This charge was recorded on the Administrative Expenses line on the Condensed Consolidated Statements of Income for the three and six months periods ended June 30, 2024. This charge was not allocated to any of the Company's three reportable segments. While the investigation is ongoing, the Company expects to record a charge in a similar amount in the third quarter of 2024 as a result of this event. While this matter will result in some additional near-term expenses, the Company does not expect this incident to otherwise have a material impact on its business, financial position, results of operations and cash flow.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2024
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	18. RECENT ACCOUNTING PRONOUNCEMENTS In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) Facilitation of the Effect of Reference Rate Reform on Financial Reporting. This update provides optional guidance for a limited period of time to ease the burden of implementing the usage of new reference rates. The amendments apply to contract modifications that replace a reference rate affected by reference rate reform and contemporaneous modifications of other contract terms related to the replacement of the reference rate. If elected, the optional expedients to contract modifications must be applied consistently for all eligible contracts or eligible transactions. The original timeframe for electing optional expedients to contract modifications was between March 12, 2020 and December 31, 2022. In December 2022, the FASB issued ASU No. 2022-06 deferring the sunset date of Topic 848 from December 31, 2022, to December 31, 2024. The guidance should be applied prospectively. Other than electing select expedients associated with an interest rate swap, the Company has not currently utilized any of the optional expedients of exceptions available under this ASU. The Company will continue to assess whether this ASU is applicable throughout the effective period. In October 2023, the FASB issued ASU No. 2023-06, Disclosure Improvements, Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative . The amendments in this update represent changes to clarify or improve disclosures and presentation requirements of a variety of topics, including Statement of Cash Flows-Overall (disclosures in annual periods where cash flows associated with derivative instruments and their related gains and losses are presented), Earnings Per Share-Overall (disclosures of the methods used in the diluted earnings-per-share computation for each dilutive security), and Debt-Overall (disclosures of amounts and terms of unused lines of credit and unfunded commitments and the weighted-average interest rate on outstanding short-term borrowings). The amendments in this update are effective two years after the SEC removes related disclosure requirements from Regulation S-X or Regulation S-K. The implementation of ASU No. 2023-06 will not have an impact on the Company’s financial position, results of operations and cash flow, but will impact the Company’s interim and annual disclosures related to the relevant subtopics in this update. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures . This update requires more enhanced and detailed interim and annual disclosures regarding significant segment expenses and other segment items that are regularly provided to the chief operating decision maker. These items include the difference between segment revenue less the segment expenses that have been already disclosed under the significant expense principle and each reported measure of segment profit and loss. These requirements are in addition to the disclosures that are currently required by Topic 280, Segment reporting . The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 and should be applied retrospectively to all periods presented in the financial statements. The implementation of ASU No. 2023-07 will not have an impact on the Company’s financial position, results of operations and cash flow but will impact the Company’s interim and annual segment reporting disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income taxes (Topic 740) Improvement to Income Tax Disclosures . This update requires that public entities on an annual basis disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. In addition, the amendments in this update require the disclosure on an annual basis of the amount of income taxes paid (net of refund received) disaggregated by federal, state and foreign taxes and the amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions in which income taxes paid is equal or greater than five percent of total income taxes paid (net of refunds received). This update requires all entities to disclose income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign and income tax expense (or benefit) from continuing operations disaggregated by federal, state, and foreign. The amendments in this update are effective for annual periods beginning after December 15, 2024, and should be applied on a prospective basis. The implementation of ASU No. 2023-09 will not have an impact on the Company’s financial position, results of operations and cash flow but will impact the Company’s annual income tax disclosures. The Organisation for Economic Co-operation and Development (OECD) proposed a global minimum tax of 15 percent on reported profits (entitled “Pillar Two”) that has been agreed upon in principle by over 100 countries. During 2023, many countries took steps to incorporate Pillar Two into their domestic laws. Although the OECD’s model provides a framework for applying the minimum tax, countries may enact Pillar Two rules that vary slightly from the model, can adopt a different timeline, and may adjust local tax incentives in response to Pillar Two. While it is uncertain whether the U.S. will enact legislation to adopt Pillar Two, certain countries in which the Company operates have enacted such legislation, and other countries are in the process of introducing legislation to implement Pillar Two. The Company does not expect Pillar Two to have a material impact on its financial position, results of operations, cash flow and effective tax rate.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) Facilitation of the Effect of Reference Rate Reform on Financial Reporting. This update provides optional guidance for a limited period of time to ease the burden of implementing the usage of new reference rates. The amendments apply to contract modifications that replace a reference rate affected by reference rate reform and contemporaneous modifications of other contract terms related to the replacement of the reference rate. If elected, the optional expedients to contract modifications must be applied consistently for all eligible contracts or eligible transactions. The original timeframe for electing optional expedients to contract modifications was between March 12, 2020 and December 31, 2022. In December 2022, the FASB issued ASU No. 2022-06 deferring the sunset date of Topic 848 from December 31, 2022, to December 31, 2024. The guidance should be applied prospectively. Other than electing select expedients associated with an interest rate swap, the Company has not currently utilized any of the optional expedients of exceptions available under this ASU. The Company will continue to assess whether this ASU is applicable throughout the effective period. In October 2023, the FASB issued ASU No. 2023-06, Disclosure Improvements, Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative . The amendments in this update represent changes to clarify or improve disclosures and presentation requirements of a variety of topics, including Statement of Cash Flows-Overall (disclosures in annual periods where cash flows associated with derivative instruments and their related gains and losses are presented), Earnings Per Share-Overall (disclosures of the methods used in the diluted earnings-per-share computation for each dilutive security), and Debt-Overall (disclosures of amounts and terms of unused lines of credit and unfunded commitments and the weighted-average interest rate on outstanding short-term borrowings). The amendments in this update are effective two years after the SEC removes related disclosure requirements from Regulation S-X or Regulation S-K. The implementation of ASU No. 2023-06 will not have an impact on the Company’s financial position, results of operations and cash flow, but will impact the Company’s interim and annual disclosures related to the relevant subtopics in this update. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures . This update requires more enhanced and detailed interim and annual disclosures regarding significant segment expenses and other segment items that are regularly provided to the chief operating decision maker. These items include the difference between segment revenue less the segment expenses that have been already disclosed under the significant expense principle and each reported measure of segment profit and loss. These requirements are in addition to the disclosures that are currently required by Topic 280, Segment reporting . The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 and should be applied retrospectively to all periods presented in the financial statements. The implementation of ASU No. 2023-07 will not have an impact on the Company’s financial position, results of operations and cash flow but will impact the Company’s interim and annual segment reporting disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income taxes (Topic 740) Improvement to Income Tax Disclosures . This update requires that public entities on an annual basis disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. In addition, the amendments in this update require the disclosure on an annual basis of the amount of income taxes paid (net of refund received) disaggregated by federal, state and foreign taxes and the amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions in which income taxes paid is equal or greater than five percent of total income taxes paid (net of refunds received). This update requires all entities to disclose income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign and income tax expense (or benefit) from continuing operations disaggregated by federal, state, and foreign. The amendments in this update are effective for annual periods beginning after December 15, 2024, and should be applied on a prospective basis. The implementation of ASU No. 2023-09 will not have an impact on the Company’s financial position, results of operations and cash flow but will impact the Company’s annual income tax disclosures. The Organisation for Economic Co-operation and Development (OECD) proposed a global minimum tax of 15 percent on reported profits (entitled “Pillar Two”) that has been agreed upon in principle by over 100 countries. During 2023, many countries took steps to incorporate Pillar Two into their domestic laws. Although the OECD’s model provides a framework for applying the minimum tax, countries may enact Pillar Two rules that vary slightly from the model, can adopt a different timeline, and may adjust local tax incentives in response to Pillar Two. While it is uncertain whether the U.S. will enact legislation to adopt Pillar Two, certain countries in which the Company operates have enacted such legislation, and other countries are in the process of introducing legislation to implement Pillar Two. The Company does not expect Pillar Two to have a material impact on its financial position, results of operations, cash flow and effective tax rate.

Reconciliations of Equity (Tabl

Reconciliations of Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Reconciliations of Total Equity	Below are reconciliations of total equity for the three and six months ended June 30, 2024 and 2023: (In thousands, except share and per share amounts) Total Common Additional Common Accumulated Retained Balance, March 31, 2024 $ 1,214,522 $ 27,125 $ 248,337 $ ( 187,611 ) $ ( 136,266 ) $ 1,262,937 Issuance of 2,456 shares of 101 2 99 — — — Stock-based and deferred compensation 2,357 15 2,509 ( 167 ) — — Net income 9,521 — — — — 9,521 Other comprehensive income ( 25,634 ) — — — ( 25,634 ) — Cash dividends paid: Common stock ($ 0.375 per share) ( 8,431 ) — — — — ( 8,431 ) Balance, June 30, 2024 $ 1,192,436 $ 27,142 $ 250,945 $ ( 187,778 ) $ ( 161,900 ) $ 1,264,027 (In thousands, except share and per share amounts) Total Common Additional Common Accumulated Retained Balance, December 31, 2023 $ 1,216,490 $ 27,006 $ 247,032 $ ( 184,412 ) $ ( 130,602 ) $ 1,257,466 Issuance of 23,124 shares of common 966 23 943 — — — Stock-based and deferred compensation ( 283 ) 113 2,970 ( 3,366 ) — — Net income 23,414 — — — — 23,414 Other comprehensive income ( 31,298 ) — — — ( 31,298 ) — Cash dividends paid: Common stock ($ 0.750 per share) ( 16,853 ) — — — — ( 16,853 ) Balance, June 30, 2024 $ 1,192,436 $ 27,142 $ 250,945 $ ( 187,778 ) $ ( 161,900 ) $ 1,264,027 (In thousands, except share and per share amounts) Total Common Additional Common Accumulated Retained Balance, March 31, 2023 $ 1,189,913 $ 26,958 $ 239,585 $ ( 184,194 ) $ ( 150,548 ) $ 1,258,112 Issuance of 6,791 shares of 402 7 395 — — — Stock-based and deferred compensation 2,077 13 2,235 ( 171 ) — — Net income 12,684 — — — — 12,684 Other comprehensive income 18,178 — — — 18,178 — Cash dividends paid: Common stock ($ 0.365 per share) ( 8,157 ) — — — — ( 8,157 ) Balance, June 30, 2023 $ 1,215,097 $ 26,978 $ 242,215 $ ( 184,365 ) $ ( 132,370 ) $ 1,262,639 (In thousands, except share and per share amounts) Total Common Additional Common Accumulated Retained Balance, December 31, 2022 $ 1,166,065 $ 26,841 $ 237,202 $ ( 180,596 ) $ ( 167,512 ) $ 1,250,130 Issuance of 32,772 shares of common 1,916 33 1,883 — — — Stock-based and deferred compensation ( 535 ) 104 3,130 ( 3,769 ) — — Net income 28,826 — — — — 28,826 Other comprehensive income 35,142 — — — 35,142 — Cash dividends paid: Common stock ($ 0.730 per share) ( 16,317 ) — — — — ( 16,317 ) Balance, June 30, 2023 $ 1,215,097 $ 26,978 $ 242,215 $ ( 184,365 ) $ ( 132,370 ) $ 1,262,639

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Values and Related Carrying Values of Debt	At June 30, 2024, and December 31, 2023 , 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 $ 650,000 and $ 895,000 as of June 30, 2024 and December 31, 2023, respectively): (In thousands) June 30, December 31, Fair value $ 625,466 $ 627,695 Carrying value 657,708 655,041
Financial Assets and Liabilities, Excluding Cash and Cash Equivalents, Measured on a Recurring Basis at Fair Value	The following tables present financial assets and liabilities, excluding cash and cash equivalents, measured on a recurring basis at fair value as of June 30, 2024, and December 31, 2023, and the level within the fair value hierarchy in which the fair value measurements fall: (In thousands) June 30, Level 1 Level 2 Level 3 Mutual fund assets $ 24,076 $ 24,076 $ — $ — Derivative assets: Interest rate contracts 6,736 — 6,736 — Foreign currency contracts 896 — 896 — Total assets at fair value $ 31,708 $ 24,076 $ 7,632 $ — Derivative liabilities: Foreign currency contracts $ 510 $ — $ 510 $ — (In thousands) December 31, Level 1 Level 2 Level 3 Mutual fund assets $ 26,804 $ 26,804 $ — $ — Derivative assets: Interest rate contracts 6,183 — 6,183 — Foreign currency contracts 1,018 — 1,018 — Total assets at fair value $ 34,005 $ 26,804 $ 7,201 $ — Derivative liabilities: Foreign currency contracts $ 928 $ — $ 928 $ —

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Compensation Expense Recorded for All Stock Options, Stock Awards and Stock Appreciation Rights (SARs)	Compensation expense recorded for all stock options, performance shares, time-based restricted stock units (RSUs) and stock appreciation rights (SARs) was as follows: (In thousands) Three Months Ended Six Months Ended 2024 2023 2024 2023 $ 1,558 $ 1,158 $ 2,930 $ 2,157
Unrecognized Compensation Costs for Stock Options, Stock Awards and SARs	Unrecognized compensation costs for stock options, performance shares, RSUs and SARs were as follows: (In thousands) June 30, December 31, Stock options $ 180 $ 127 Performance shares and RSUs 4,936 3,761 SARs 4,632 3,648
Share Based Payment Awards Granted in Period	The change in unrecognized compensation costs for stock options, performance shares, RSUs and SARs is due to new grants issued in 2024. The Company granted the following awards in the first six months of 2024: Shares Stock options 3,356 Performance shares (at target) and RSUs 105,826 SARs 90,201

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Composition of Inventories	The composition of inventories at June 30, 2024, and December 31, 2023, was as follows: (In thousands) June 30, December 31, Finished goods $ 180,598 $ 184,828 Raw materials 85,413 80,730 Total inventories $ 266,011 $ 265,558

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Lease Cost Recognized in both Cost of Sale and Operating Expenses	Lease cost is recognized in both the Cost of Sales and Operating Expenses sections of the Condensed Consolidated Statements of Income. (In thousands) Three Months Ended Six Months Ended 2024 2023 2024 2023 Lease Cost Operating lease cost $ 4,468 $ 4,458 $ 8,961 $ 8,807 Short-term lease cost 3,249 2,739 5,936 5,518 Variable lease cost 422 603 865 1,160 Total lease cost $ 8,139 $ 7,800 $ 15,762 $ 15,485 Other Information Cash paid for amounts included in the Operating cash flow from operating leases $ 4,477 $ 4,497 $ 8,965 $ 8,829 Right-of-use assets obtained in exchange 559 875 1,548 7,420
Schedule of Maturities of Lease Liabilities	The following table outlines the maturities of lease liabilities as of June 30, 2024. (In thousands) Undiscounted Cash Flows: 2024 (excluding the six months ended June 30, 2024) $ 8,693 2025 13,664 2026 10,406 2027 7,838 2028 6,796 Subsequent to 2028 35,254 Total Undiscounted Cash Flows $ 82,651 Less: Imputed interest ( 12,406 ) Present value $ 70,245 Current operating lease liabilities (1) 13,580 Non-current operating lease liabilities 56,665 Total lease liabilities $ 70,245 (1) This item is included in the Accrued liabilities line on the Company’s Condensed Consolidated Balance Sheet.
Schedule of Operating Leases Weighted Average, Remaining Lease Term and Discount Rate	Weighted-average remaining lease term-operating leases 9 Years Weighted-average discount rate-operating leases 3.9 %

Postretirement Benefit Plans (T

Postretirement Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	Components of Net Periodic Benefit Cost UNITED STATES (In thousands) Three Months Ended Six Months Ended 2024 2023 2024 2023 Interest cost $ 1,652 $ 1,731 $ 3,303 $ 3,462 Expected return on plan assets ( 2,124 ) ( 2,133 ) ( 4,240 ) ( 4,266 ) Amortization of net actuarial loss ( 3 ) ( 6 ) ( 6 ) ( 12 ) Net periodic benefit cost $ ( 475 ) $ ( 408 ) $ ( 943 ) $ ( 816 ) UNITED KINGDOM (In thousands) Three Months Ended Six Months Ended 2024 2023 2024 2023 Interest cost $ 160 $ 169 $ 321 $ 333 Expected return on plan assets ( 182 ) ( 175 ) ( 365 ) ( 345 ) Amortization of net actuarial loss 80 84 160 165 Net periodic benefit cost $ 58 $ 78 $ 116 $ 153
Defined Contribution Plan Expenses for Company's Qualified Contribution Plans	Defined contribution plan expenses for the Company’s qualified contribution plans were as follows: (In thousands) Three Months Ended Six Months Ended 2024 2023 2024 2023 Retirement savings contributions $ 2,295 $ 2,170 $ 4,420 $ 4,218 Profit sharing contributions 684 163 1,532 870 Total defined contribution plan expenses $ 2,979 $ 2,333 $ 5,952 $ 5,088

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
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 six months ended June 30, 2024 and 2023: (In thousands, except per share amounts) Three Months Ended Six Months Ended 2024 2023 2024 2023 Computation of Basic Earnings per Share Net income attributable to Stepan Company $ 9,521 $ 12,684 $ 23,414 $ 28,826 Weighted-average number of common shares 22,827 22,768 22,825 22,763 Basic earnings per share $ 0.42 $ 0.56 $ 1.03 $ 1.27 Computation of Diluted Earnings per Share Net income attributable to Stepan Company $ 9,521 $ 12,684 $ 23,414 $ 28,826 Weighted-average number of shares outstanding 22,827 22,768 22,825 22,763 Add weighted-average net shares from assumed (1) 34 71 41 85 Add weighted-average net shares related to unvested 8 3 6 2 Add weighted-average net shares from assumed (1) 45 73 49 90 Add weighted-average contingently issuable net 22 30 21 30 Weighted-average shares applicable to diluted 22,936 22,945 22,942 22,970 Diluted earnings per share $ 0.42 $ 0.55 $ 1.02 $ 1.25 (1) 899,151 and 849,588 options/SARs to acquire shares of the Company's common stock were excluded from the computation of dilutive earnings per share for the three and six months ended June 30, 2024 , respectively. The options/SARs' exercise prices were greater than the average market price for the Company's common stock and inclusion of the instruments would have had an antidilutive effect on the computations of the earnings per share. 644,962 and 524,337 options/SARs to acquire shares of the Company's common stock were excluded from the computation of dilutive earnings per share for the three and six months ended June 30, 2023 , respectively.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2024
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 three and six months ended June 30, 2024 and 2023: (In thousands) Foreign Defined Cash Flow Total Balance at March 31, 2023 $ ( 138,412 ) $ ( 19,021 ) $ 6,885 $ ( 150,548 ) Other comprehensive income before 16,497 — 1,623 18,120 Amounts reclassified from AOCI — 60 ( 2 ) 58 Net current-period other comprehensive income 16,497 60 1,621 18,178 Balance at June 30, 2023 $ ( 121,915 ) $ ( 18,961 ) $ 8,506 $ ( 132,370 ) Balance at March 31, 2024 $ ( 122,963 ) $ ( 20,350 ) $ 7,047 $ ( 136,266 ) Other comprehensive income before ( 25,411 ) — ( 278 ) ( 25,689 ) Amounts reclassified from AOCI — 57 ( 2 ) 55 Net current-period other comprehensive income ( 25,411 ) 57 ( 280 ) ( 25,634 ) Balance at June 30, 2024 $ ( 148,374 ) $ ( 20,293 ) $ 6,767 $ ( 161,900 ) Balance at December 31, 2022 $ ( 156,835 ) $ ( 19,079 ) $ 8,402 $ ( 167,512 ) Other comprehensive income before 34,920 — 109 35,029 Amounts reclassified from AOCI — 118 ( 5 ) 113 Net current-period other comprehensive income 34,920 118 104 35,142 Balance at June 30, 2023 $ ( 121,915 ) $ ( 18,961 ) $ 8,506 $ ( 132,370 ) Balance at December 31, 2023 $ ( 116,412 ) $ ( 20,408 ) $ 6,218 $ ( 130,602 ) Other comprehensive income before ( 31,962 ) — 553 ( 31,409 ) Amounts reclassified from AOCI — 115 ( 4 ) 111 Net current-period other comprehensive income ( 31,962 ) 115 549 ( 31,298 ) Balance at June 30, 2024 $ ( 148,374 ) $ ( 20,293 ) $ 6,767 $ ( 161,900 )
Summary of Amounts Reclassifications Out of Accumulated Other Comprehensive Income	Information regarding the reclassifications out of AOCI for the three and six months ended June 30, 2024 and 2023, is displayed below: (In thousands) Amount Reclassified from AOCI (1) AOCI Components Three Months Ended Six Months Ended Affected Line Item in 2024 2023 2024 2023 Amortization of defined benefit $ ( 77 ) $ ( 78 ) $ ( 154 ) $ ( 153 ) (2) 20 18 39 35 Tax benefit $ ( 57 ) $ ( 60 ) $ ( 115 ) $ ( 118 ) Net of tax Gains and losses on cash flow Foreign exchange contracts 2 2 4 5 Cost of sales 2 2 4 5 Total before tax — — — — Tax benefit $ 2 $ 2 $ 4 $ 5 Net of tax Total reclassifications for the period $ ( 55 ) $ ( 58 ) $ ( 111 ) $ ( 113 ) Net of tax (1) A mounts in parentheses denote expense to the Company’s Condensed Consolidated Statements of Income. (2) This component of accumulated other comprehensive income is included in the computation of net periodic benefit cost. See Note 9, Postretirement Benefit Plans , of the notes to the Company’s condensed consolidated financial statements (included in Item 1 of this Form 10-Q) for additional details.

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Operating Segment	The Company has three reportable segments: Surfactants, Polymers and Specialty Products. Net sales by segment for the three and six months ended June 30, 2024 and 2023, were as follows: (In thousands) Three Months Ended Six Months Ended 2024 2023 2024 2023 Segment Net Sales Surfactants $ 379,795 $ 391,686 $ 770,615 $ 859,514 Polymers 159,757 164,515 305,265 325,642 Specialty Products 16,853 23,774 31,943 46,255 Total $ 556,405 $ 579,975 $ 1,107,823 $ 1,231,411
Reconciliation of Segment Information to Income Before Provision for Income Taxes	Segment operating income and reconciliations of segment operating income to income before provision for income taxes for the three and six months ended June 30, 2024 and 2023, are summarized below: (In thousands) Three Months Ended Six Months Ended 2024 2023 2024 2023 Segment Operating Income Surfactants $ 17,062 $ 15,140 $ 43,142 $ 42,196 Polymers 13,597 16,321 21,979 26,325 Specialty Products 7,319 3,773 11,587 6,302 Segment operating income 37,978 35,234 76,708 74,823 Business restructuring expense — ( 42 ) — ( 199 ) Unallocated corporate expenses (1) ( 19,311 ) ( 17,383 ) ( 37,872 ) ( 35,758 ) Total operating income 18,667 17,809 38,836 38,866 Other Income (Expense) Interest, net ( 2,661 ) ( 3,865 ) ( 5,732 ) ( 6,687 ) Other, net 1,200 2,370 3,562 4,038 Income before provision for income taxes $ 17,206 $ 16,314 $ 36,666 $ 36,217 (1) Unallocated corporate expenses are primarily comprised of 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 are not used to evaluate segment performance. Unallocated corporate expenses for the three and six months periods ended June 30, 2024 also include a $ 3,500,000 pre-tax charge related to a criminal social engineering scheme that impacted one of the Company's Asia subsidiaries. See Note 17, Other Matter , below for detailed information about the charge.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Geographic Disaggregation of Net Sales	The tables below provide a geographic disaggregation of net sales for the three and six months ended June 30, 2024 and 2023. The Company’s business disaggregation by geographic region most effectively captures the nature and economic characteristics of the Company’s revenue streams impacted by economic factors. (In thousands) For the Three Months Ended June 30, 2024 Geographic Market Surfactants Polymers Specialty Total North America $ 220,520 $ 79,828 $ 15,395 $ 315,743 Europe 63,460 67,401 1,322 132,183 Latin America 83,569 326 136 84,031 Asia 12,246 12,202 — 24,448 Total $ 379,795 $ 159,757 $ 16,853 $ 556,405 (In thousands) For the Three Months Ended June 30, 2023 Geographic Market Surfactants Polymers Specialty Total North America $ 231,477 $ 88,149 $ 20,498 $ 340,124 Europe 68,742 65,896 3,174 137,812 Latin America 78,217 273 102 78,592 Asia 13,250 10,197 — 23,447 Total $ 391,686 $ 164,515 $ 23,774 $ 579,975 (In thousands) For the Six Months Ended June 30, 2024 Geographic Market Surfactants Polymers Specialty Total North America $ 450,110 $ 149,637 $ 28,641 $ 628,388 Europe 134,238 131,278 3,157 268,673 Latin America 161,437 743 145 162,325 Asia 24,830 23,607 — 48,437 Total $ 770,615 $ 305,265 $ 31,943 $ 1,107,823 (In thousands) For the Six Months Ended June 30, 2023 Geographic Market Surfactants Polymers Specialty Total North America $ 508,617 $ 169,318 $ 38,097 $ 716,032 Europe 159,861 134,953 8,046 302,860 Latin America 159,315 1,058 112 160,485 Asia 31,721 20,313 — 52,034 Total $ 859,514 $ 325,642 $ 46,255 $ 1,231,411

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	At June 30, 2024 and December 31, 2023, debt was comprised of the following: (In thousands) Maturity June 30, December 31, Senior unsecured notes 3.95 % (net of unamortized debt issuance cost 145 and $ 191 for 2024 and 2023, respectively) 2024 - 2027 $ 56,999 $ 56,952 3.86 % (net of unamortized debt issuance cost 59 and $ 105 for 2024 and 2023, respectively) 2024 - 2025 14,226 28,466 2.30 % (net of unamortized debt issuance cost 110 and $ 142 for 2024 and 2023, respectively) 2024 - 2028 39,890 49,858 2.37 % (net of unamortized debt issuance cost 116 and $ 148 for 2024 and 2023, respectively) 2024 - 2028 49,884 49,852 2.73 % (net of unamortized debt issuance cost 123 and $ 175 for 2024 and 2023, respectively) 2025 - 2031 99,877 99,825 2.83 % (net of unamortized debt issuance cost 97 and $ 134 for 2024 and 2023, respectively) 2026 - 2032 74,903 74,866 Revolving credit facility and term loan borrowing 2024 313,280 283,000 Debt of foreign subsidiaries Unsecured bank debt, foreign currency 2024 7,999 11,327 Total debt $ 657,058 $ 654,146 Less current maturities 282,350 252,898 Long-term debt $ 374,708 $ 401,248

Other, Net (Tables)

Other, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Other Net in Condensed Consolidated Statements of Income	Other, net in the condensed consolidated statements of income included the following: (In thousands) Three Months Ended Six Months Ended 2024 2023 2024 2023 Foreign exchange gains (losses) $ ( 27 ) $ 406 $ ( 402 ) $ 82 Investment income 131 71 191 214 Realized and unrealized gains on investments 679 1,563 2,946 3,079 Net periodic benefit cost 417 330 827 663 Other, net $ 1,200 $ 2,370 $ 3,562 $ 4,038

Reconciliations of Equity - Rec

Reconciliations of Equity - Reconciliations of Total Equity (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reconciliations of total equity
Beginning Balance	$ 1,214,522	$ 1,189,913	$ 1,216,490	$ 1,166,065
Issuance of common stock under incentive compensation plan	101	402	966	1,916
Stock-based and deferred compensation	2,357	2,077	(283)	(535)
Net income	9,521	12,684	23,414	28,826
Other comprehensive income (loss)	(25,634)	18,178	(31,298)	35,142
Cash dividends paid:
Common stock	(8,431)	(8,157)	(16,853)	(16,317)
Ending Balance	1,192,436	1,215,097	1,192,436	1,215,097
Common Stock [Member]
Reconciliations of total equity
Beginning Balance	27,125	26,958	27,006	26,841
Issuance of common stock under incentive compensation plan	2	7	23	33
Stock-based and deferred compensation	15	13	113	104
Cash dividends paid:
Ending Balance	27,142	26,978	27,142	26,978
Additional Paid-in Capital [Member]
Reconciliations of total equity
Beginning Balance	248,337	239,585	247,032	237,202
Issuance of common stock under incentive compensation plan	99	395	943	1,883
Stock-based and deferred compensation	2,509	2,235	2,970	3,130
Cash dividends paid:
Ending Balance	250,945	242,215	250,945	242,215
Common Treasury Stock [Member]
Reconciliations of total equity
Beginning Balance	(187,611)	(184,194)	(184,412)	(180,596)
Stock-based and deferred compensation	(167)	(171)	(3,366)	(3,769)
Cash dividends paid:
Ending Balance	(187,778)	(184,365)	(187,778)	(184,365)
Accumulated Other Comprehensive Income (Loss) [Member]
Reconciliations of total equity
Beginning Balance	(136,266)	(150,548)	(130,602)	(167,512)
Other comprehensive income (loss)	(25,634)	18,178	(31,298)	35,142
Cash dividends paid:
Ending Balance	(161,900)	(132,370)	(161,900)	(132,370)
Retained Earnings [Member]
Reconciliations of total equity
Beginning Balance	1,262,937	1,258,112	1,257,466	1,250,130
Net income	9,521	12,684	23,414	28,826
Cash dividends paid:
Common stock	(8,431)	(8,157)	(16,853)	(16,317)
Ending Balance	$ 1,264,027	$ 1,262,639	$ 1,264,027	$ 1,262,639

Reconciliations of Equity - R_2

Reconciliations of Equity - Reconciliations of Total Equity (Parenthetical) (Detail) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Number of shares of common stock issued under incentive compensation plan	2,456	6,791	23,124	32,772
Common stock	$ 0.375	$ 0.365	$ 0.75	$ 0.73
Common Stock [Member]
Number of shares of common stock issued under incentive compensation plan	2,456	6,791	23,124	32,772
Additional Paid-in Capital [Member]
Number of shares of common stock issued under incentive compensation plan	2,456	6,791	23,124	32,772
Retained Earnings [Member]
Common stock	$ 0.375	$ 0.365	$ 0.75	$ 0.73

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Unamortized debt issuance cost	$ 650,000	$ 895,000

Fair Value Measurements - Fair

Fair Value Measurements - Fair Values and Related Carrying Values of Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Carrying value	$ 657,708	$ 655,041
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value	$ 625,466	$ 627,695

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities, Excluding Cash and Cash Equivalents, Measured on a Recurring Basis at Fair Value (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Mutual fund assets	$ 24,076	$ 26,804
Derivative assets:
Interest rate contracts	6,736	6,183
Foreign currency contracts	896	1,018
Total assets at fair value	31,708	34,005
Derivative liabilities:
Foreign currency contracts	510	928
Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Mutual fund assets	24,076	26,804
Derivative assets:
Total assets at fair value	24,076	26,804
Level 2 [Member]
Derivative assets:
Interest rate contracts	6,736	6,183
Foreign currency contracts	896	1,018
Total assets at fair value	7,632	7,201
Derivative liabilities:
Foreign currency contracts	$ 510	$ 928

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative notional amount	$ 98,190,000	$ 98,190,000	$ 106,561,000
Revolving Credit Facility [Member]
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Debt Instrument, Maturity Date		Jun. 24, 2027
Cash Flow Hedging [Member]
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative notional amount	$ 100,000,000	$ 100,000,000
Maturity date of current interest swap contract		Mar. 10, 2027
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

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2024
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average period for amortization of unrecognized compensation cost	2 years

Stock-based Compensation - Comp

Stock-based Compensation - Compensation Expense Recorded for All Stock Options, Stock Appreciation Rights (SARs) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Compensation expense	$ 1,558	$ 1,158	$ 2,930	$ 2,157

Stock-based Compensation - Unre

Stock-based Compensation - Unrecognized Compensation Costs for Stock Options, Stock Awards and SARs (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation costs for stock options, stock awards and SARs	$ 180	$ 127
Performance Shares and RSUs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation costs for stock options, stock awards and SARs	4,936	3,761
Stock Appreciation Rights (SARs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation costs for stock options, stock awards and SARs	$ 4,632	$ 3,648

Stock-based Compensation - Shar

Stock-based Compensation - Share Based Payment Awards Granted in Period (Detail)	6 Months Ended
	Jun. 30, 2024 shares
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted in period	3,356
Performance Shares (at target) and RSUs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted in period	105,826
Stock Appreciation Rights (SARs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted in period	90,201

Inventories - Composition of In

Inventories - Composition of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 180,598	$ 184,828
Raw materials	85,413	80,730
Total inventories	$ 266,011	$ 265,558

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost Recognized in both Cost of Sale and Operating Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Lease Cost
Operating lease cost	$ 4,468	$ 4,458	$ 8,961	$ 8,807
Short-term lease cost	3,249	2,739	5,936	5,518
Variable lease cost	422	603	865	1,160
Total lease cost	8,139	7,800	15,762	15,485
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow from operating leases	4,477	4,497	8,965	8,829
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 559	$ 875	$ 1,548	$ 7,420

Leases - Schedule of Lease Liab

Leases - Schedule of Lease Liability Payments (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
2024 (excluding the six months ended June 30, 2024)	$ 8,693
2025	13,664
2026	10,406
2027	7,838
2028	6,796
Subsequent to 2028	35,254
Total Undiscounted Cash Flows	82,651
Less: Imputed interest	(12,406)
Present value	70,245
Current operating lease liabilities	$ 13,580
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current
Non-current operating lease liabilities	$ 56,665	$ 58,026
Total lease liabilities	$ 70,245

Leases - Schedule of Operating

Leases - Schedule of Operating Leases Weighted Average, Remaining Lease Term and Discount Rate (Detail)	Jun. 30, 2024
Leases [Abstract]
Weighted-average remaining lease term-operating leases	9 years
Weighted-average discount rate-operating leases	3.90%

Leases - Additional Information

Leases - Additional Information (Detail) - Equipment and Automobile [Member] - USD ($)	Sep. 30, 2024	Jun. 30, 2024
Lessee, Lease, Description [Line Items]
Leases not yet commenced		$ 888,000
Forecast [Member] | Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	5 years

Contingencies - Additional Info

Contingencies - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Site Contingency [Line Items]
Environmental losses accrual	$ 20,816,000		$ 20,646,000
Cash expenditures related to legal and environmental matters	$ 1,982,000	$ 8,882,000
Contribution for future response costs	5%
Wilmington Site [Member]
Site Contingency [Line Items]
Payment of environmental response costs	$ 3,841,000
Minimum [Member]
Site Contingency [Line Items]
Environmental losses and legal losses	20,816,000
Maximum [Member]
Site Contingency [Line Items]
Environmental losses and legal losses	$ 48,104,000

Postretirement Benefit Plans -

Postretirement Benefit Plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost (income)	$ (417)	$ (330)	$ (827)	$ (663)
United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	1,652	1,731	3,303	3,462
Expected return on plan assets	(2,124)	(2,133)	(4,240)	(4,266)
Amortization of net actuarial (gain) loss	(3)	(6)	(6)	(12)
Net periodic benefit cost (income)	(475)	(408)	(943)	(816)
United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	160	169	321	333
Expected return on plan assets	(182)	(175)	(365)	(345)
Amortization of net actuarial (gain) loss	80	84	160	165
Net periodic benefit cost (income)	$ 58	$ 78	$ 116	$ 153

Postretirement Benefit Plans _2

Postretirement Benefit Plans - Defined Benefit Pension Plans - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2024 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Percentage of union and non-union employees eligible for either statutory or Company's sponsored profit sharing contributions	85%
Percentage of us based union and non-union employees eligible for either statutory or Company's sponsored profit sharing contributions	100%
Defined Contribution Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Balance of trust assets	$ 455,000
United States [Member] | Unfunded Plan [Member] | Non-qualified Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected contributions or payments to defined benefit plans	238,000
Employer contributions or payments	$ 181,000

Postretirement Benefit Plans _3

Postretirement Benefit Plans - Defined Contribution Plan Expenses for Company's Qualified Contribution Plans (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Defined Contribution Plan Disclosure [Line Items]
Total defined contribution plan expenses	$ 2,979	$ 2,333	$ 5,952	$ 5,088
Retirement Savings Contributions [Member]
Defined Contribution Plan Disclosure [Line Items]
Total defined contribution plan expenses	2,295	2,170	4,420	4,218
Profit Sharing Contributions [Member]
Defined Contribution Plan Disclosure [Line Items]
Total defined contribution plan expenses	$ 684	$ 163	$ 1,532	$ 870

Earnings Per Share - Computatio

Earnings Per Share - Computations of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Computation of Basic Earnings per Share
Net income attributable to Stepan Company		$ 9,521	$ 12,684	$ 23,414	$ 28,826
Weighted-average number of common shares outstanding		22,827	22,768	22,825	22,763
Basic earnings per share		$ 0.42	$ 0.56	$ 1.03	$ 1.27
Computation of Diluted Earnings per Share
Net income attributable to Stepan Company		$ 9,521	$ 12,684	$ 23,414	$ 28,826
Weighted-average number of common shares outstanding		22,827	22,768	22,825	22,763
Add weighted-average net shares related to unvested stock awards (under treasury stock method)		8	3	6	2
Weighted-average shares applicable to diluted earnings		22,936	22,945	22,942	22,970
Diluted earnings per share		$ 0.42	$ 0.55	$ 1.02	$ 1.25
Stock Option [Member]
Computation of Diluted Earnings per Share
Add weighted-average net shares from assumed exercise of options (under treasury stock method)	[1]	34	71	41	85
Stock Appreciation Rights (SARs) [Member]
Computation of Diluted Earnings per Share
Add weighted-average net shares from assumed exercise of options (under treasury stock method)	[1]	45	73	49	90
Performance Stock Award [Member]
Computation of Diluted Earnings per Share
Add weighted-average net shares from assumed exercise of options (under treasury stock method)		22	30	21	30
[1] 899,151 and 849,588 options/SARs to acquire shares of the Company's common stock were excluded from the computation of dilutive earnings per share for the three and six months ended June 30, 2024 , respectively. The options/SARs' exercise prices were greater than the average market price for the Company's common stock and inclusion of the instruments would have had an antidilutive effect on the computations of the earnings per share. 644,962 and 524,337 options/SARs to acquire shares of the Company's common stock were excluded from the computation of dilutive earnings per share for the three and six months ended June 30, 2023 , respectively.

Earnings Per Share - Computat_2

Earnings Per Share - Computations of Basic and Diluted Earnings Per Share (Parenthetical) (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Options and Stock Appreciation Rights (SARs) [Member]
Earnings Per Share Basic [Line Items]
Options/SARs to purchase shares of common stock were excluded from the computations of diluted earnings per share	899,151	644,962	849,588	524,337

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Summary of Changes in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance			$ 1,216,490
Ending Balance	$ 1,192,436		1,192,436
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(122,963)	$ (138,412)	(116,412)	$ (156,835)
Other comprehensive income before reclassifications	(25,411)	16,497	(31,962)	34,920
Amounts reclassified from AOCI		0
Net current-period other comprehensive income	(25,411)	16,497	(31,962)	34,920
Ending Balance	(148,374)	(121,915)	(148,374)	(121,915)
Defined Benefit Pension Plan Adjustments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(20,350)	(19,021)	(20,408)	(19,079)
Amounts reclassified from AOCI	57	60	115	118
Net current-period other comprehensive income	57	60	115	118
Ending Balance	(20,293)	(18,961)	(20,293)	(18,961)
Cash Flow Hedge Adjustments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	7,047	6,885	6,218	8,402
Other comprehensive income before reclassifications	(278)	1,623	553	109
Amounts reclassified from AOCI	(2)	(2)	(4)	(5)
Net current-period other comprehensive income	(280)	1,621	549	104
Ending Balance	6,767	8,506	6,767	8,506
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(136,266)	(150,548)	(130,602)	(167,512)
Other comprehensive income before reclassifications	(25,689)	18,120	(31,409)	35,029
Amounts reclassified from AOCI	55	58	111	113
Net current-period other comprehensive income	(25,634)	18,178	(31,298)	35,142
Ending Balance	$ (161,900)	$ (132,370)	$ (161,900)	$ (132,370)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Summary of Amounts Reclassifications Out of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Income Before Provision for Income Taxes		$ 17,206	$ 16,314	$ 36,666	$ 36,217
Tax benefit		(7,685)	(3,630)	(13,252)	(7,391)
Cost of Sales		486,853	513,578	967,990	1,091,454
Defined Benefit Pension Plan Adjustments [Member] | Amounts Reclassified From Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Amortization of defined benefit pension actuarial losses	[1],[2]	(77)	(78)	(154)	(153)
Tax benefit	[1]	20	18	39	35
Income applicable to common stock	[1]	(57)	(60)	(115)	(118)
Cash Flow Hedge Adjustments [Member] | Amounts Reclassified From Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Income Before Provision for Income Taxes	[1]	2	2	4	5
Income applicable to common stock	[1]	2	2	4	5
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]
Cost of Sales	[1]	2	2	4	5
Accumulated Other Comprehensive Income (Loss) [Member] | Amounts Reclassified From Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Income applicable to common stock	[1]	$ (55)	$ (58)	$ (111)	$ (113)
[1] A mounts in parentheses denote expense to the Company’s Condensed Consolidated Statements of Income. This component of accumulated other comprehensive income is included in the computation of net periodic benefit cost. See Note 9, Postretirement Benefit Plans , of the notes to the Company’s condensed consolidated financial statements (included in Item 1 of this Form 10-Q) for additional details.

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2024 Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Reporting - Operating S

Segment Reporting - Operating Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Net sales	$ 556,405	$ 579,975	$ 1,107,823	$ 1,231,411
Surfactants [Member]
Segment Reporting Information [Line Items]
Net sales	379,795	391,686	770,615	859,514
Polymers [Member]
Segment Reporting Information [Line Items]
Net sales	159,757	164,515	305,265	325,642
Specialty Products [Member]
Segment Reporting Information [Line Items]
Net sales	$ 16,853	$ 23,774	$ 31,943	$ 46,255

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Segment Information to Income Before Provision for Income Taxes (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Operating Income		$ 18,667	$ 17,809	$ 38,836	$ 38,866
Business restructuring			(42)		(199)
Other Income (Expense)
Interest, net		(2,661)	(3,865)	(5,732)	(6,687)
Other, net		1,200	2,370	3,562	4,038
Income before provision for income taxes		17,206	16,314	36,666	36,217
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating Income		37,978	35,234	76,708	74,823
Operating Segments [Member] | Surfactants [Member]
Segment Reporting Information [Line Items]
Operating Income		17,062	15,140	43,142	42,196
Operating Segments [Member] | Polymers [Member]
Segment Reporting Information [Line Items]
Operating Income		13,597	16,321	21,979	26,325
Operating Segments [Member] | Specialty Products [Member]
Segment Reporting Information [Line Items]
Operating Income		7,319	3,773	11,587	6,302
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Unallocated corporate expenses	[1]	$ (19,311)	$ (17,383)	$ (37,872)	$ (35,758)
[1] Unallocated corporate expenses are primarily comprised of 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 are not used to evaluate segment performance. Unallocated corporate expenses for the three and six months periods ended June 30, 2024 also include a $ 3,500,000 pre-tax charge related to a criminal social engineering scheme that impacted one of the Company's Asia subsidiaries. See Note 17, Other Matter , below for detailed information about the charge.

Segment Reporting - Reconcili_2

Segment Reporting - Reconciliation of Segment Information to Income Before Provision for Income Taxes (Parenthetical) (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Segment Reporting Information [Line Items]
Pre tax charge	$ 3,500,000
Asia [Member] | Criminal Social Engineering Scheme [Member]
Segment Reporting Information [Line Items]
Pre tax charge	$ 3,500,000	$ 3,500,000

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2024	Jun. 30, 2024	Dec. 31, 2020
Disaggregation Of Revenue [Line Items]
Contract assets		$ 0
Contract liabilities		481,000
Contract liabilities revenue recorded		2,954,000
Long term deferred revenue			$ 10,709,000
Pre-existing Contract Liabilities [Member]
Disaggregation Of Revenue [Line Items]
Contract liabilities revenue recorded	$ 688,000
Long-Term [Member]
Disaggregation Of Revenue [Line Items]
Long term deferred revenue		5,539,000
Short-Term [Member]
Disaggregation Of Revenue [Line Items]
Short-term defferred revenue		$ 2,216,000

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Summary of Geographic Disaggregation of Net Sales (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation Of Revenue [Line Items]
Net sales	$ 556,405	$ 579,975	$ 1,107,823	$ 1,231,411
Surfactants [Member]
Disaggregation Of Revenue [Line Items]
Net sales	379,795	391,686	770,615	859,514
Polymers [Member]
Disaggregation Of Revenue [Line Items]
Net sales	159,757	164,515	305,265	325,642
Specialty Products [Member]
Disaggregation Of Revenue [Line Items]
Net sales	16,853	23,774	31,943	46,255
North America [Member]
Disaggregation Of Revenue [Line Items]
Net sales	315,743	340,124	628,388	716,032
North America [Member] | Surfactants [Member]
Disaggregation Of Revenue [Line Items]
Net sales	220,520	231,477	450,110	508,617
North America [Member] | Polymers [Member]
Disaggregation Of Revenue [Line Items]
Net sales	79,828	88,149	149,637	169,318
North America [Member] | Specialty Products [Member]
Disaggregation Of Revenue [Line Items]
Net sales	15,395	20,498	28,641	38,097
Europe [Member]
Disaggregation Of Revenue [Line Items]
Net sales	132,183	137,812	268,673	302,860
Europe [Member] | Surfactants [Member]
Disaggregation Of Revenue [Line Items]
Net sales	63,460	68,742	134,238	159,861
Europe [Member] | Polymers [Member]
Disaggregation Of Revenue [Line Items]
Net sales	67,401	65,896	131,278	134,953
Europe [Member] | Specialty Products [Member]
Disaggregation Of Revenue [Line Items]
Net sales	1,322	3,174	3,157	8,046
Latin America [Member]
Disaggregation Of Revenue [Line Items]
Net sales	84,031	78,592	162,325	160,485
Latin America [Member] | Surfactants [Member]
Disaggregation Of Revenue [Line Items]
Net sales	83,569	78,217	161,437	159,315
Latin America [Member] | Polymers [Member]
Disaggregation Of Revenue [Line Items]
Net sales	326	273	743	1,058
Latin America [Member] | Specialty Products [Member]
Disaggregation Of Revenue [Line Items]
Net sales	136	102	145	112
Asia [Member]
Disaggregation Of Revenue [Line Items]
Net sales	24,448	23,447	48,437	52,034
Asia [Member] | Surfactants [Member]
Disaggregation Of Revenue [Line Items]
Net sales	12,246	13,250	24,830	31,721
Asia [Member] | Polymers [Member]
Disaggregation Of Revenue [Line Items]
Net sales	$ 12,202	$ 10,197	$ 23,607	$ 20,313

Debt - Debt (Detail)

Debt - Debt (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt	$ 657,058	$ 654,146
Less current maturities	282,350	252,898
Long-term debt	374,708	401,248
Senior unsecured 3.95% note [Member]
Debt Instrument [Line Items]
Total debt	$ 56,999	$ 56,952
Debt instrument interest rate percentage	3.95%	3.95%
Senior unsecured 3.95% note [Member] | Minimum [Member]
Debt Instrument [Line Items]
Maturity Dates	2024	2024
Senior unsecured 3.95% note [Member] | Maximum [Member]
Debt Instrument [Line Items]
Maturity Dates	2027	2027
Senior unsecured 3.86% note [Member]
Debt Instrument [Line Items]
Total debt	$ 14,226	$ 28,466
Debt instrument interest rate percentage	3.86%	3.86%
Senior unsecured 3.86% note [Member] | Minimum [Member]
Debt Instrument [Line Items]
Maturity Dates	2024	2024
Senior unsecured 3.86% note [Member] | Maximum [Member]
Debt Instrument [Line Items]
Maturity Dates	2025	2025
Senior unsecured 2.30% note [Member]
Debt Instrument [Line Items]
Total debt	$ 39,890	$ 49,858
Debt instrument interest rate percentage	2.30%	2.30%
Senior unsecured 2.30% note [Member] | Minimum [Member]
Debt Instrument [Line Items]
Maturity Dates	2024	2024
Senior unsecured 2.30% note [Member] | Maximum [Member]
Debt Instrument [Line Items]
Maturity Dates	2028	2028
Senior unsecured 2.37% note [Member]
Debt Instrument [Line Items]
Total debt	$ 49,884	$ 49,852
Debt instrument interest rate percentage	2.37%	2.37%
Senior unsecured 2.37% note [Member] | Minimum [Member]
Debt Instrument [Line Items]
Maturity Dates	2024	2024
Senior unsecured 2.37% note [Member] | Maximum [Member]
Debt Instrument [Line Items]
Maturity Dates	2028	2028
Senior unsecured 2.73% note [Member]
Debt Instrument [Line Items]
Total debt	$ 99,877	$ 99,825
Debt instrument interest rate percentage	2.73%	2.73%
Senior unsecured 2.73% note [Member] | Minimum [Member]
Debt Instrument [Line Items]
Maturity Dates	2025	2025
Senior unsecured 2.73% note [Member] | Maximum [Member]
Debt Instrument [Line Items]
Maturity Dates	2031	2031
Senior unsecured 2.83% note [Member]
Debt Instrument [Line Items]
Total debt	$ 74,903	$ 74,866
Debt instrument interest rate percentage	2.83%	2.83%
Senior unsecured 2.83% note [Member] | Minimum [Member]
Debt Instrument [Line Items]
Maturity Dates	2026	2026
Senior unsecured 2.83% note [Member] | Maximum [Member]
Debt Instrument [Line Items]
Maturity Dates	2032	2032
Debt of foreign subsidiaries Unsecured bank debt, foreign currency [Member]
Debt Instrument [Line Items]
Total debt	$ 7,999	$ 11,327
Maturity Dates	2024	2024
Revolving credit facility and term loan borrowing [Member]
Debt Instrument [Line Items]
Total debt	$ 313,280	$ 283,000
Revolving credit facility and term loan borrowing [Member] | Minimum [Member]
Debt Instrument [Line Items]
Maturity Dates	2024	2024

Debt - Debt (Parenthetical) (De

Debt - Debt (Parenthetical) (Detail) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Unamortized debt issuance cost	$ 650,000	$ 895,000
Senior unsecured 3.95% note [Member]
Debt Instrument [Line Items]
Unamortized debt issuance cost	145,000	191,000
Senior unsecured 3.86% note [Member]
Debt Instrument [Line Items]
Unamortized debt issuance cost	59,000	105,000
Senior unsecured 2.30% note [Member]
Debt Instrument [Line Items]
Unamortized debt issuance cost	110,000	142,000
Senior unsecured 2.37% note [Member]
Debt Instrument [Line Items]
Unamortized debt issuance cost	116,000	148,000
Senior unsecured 2.73% note [Member]
Debt Instrument [Line Items]
Unamortized debt issuance cost	123,000	175,000
Senior unsecured 2.83% note [Member]
Debt Instrument [Line Items]
Unamortized debt issuance cost	$ 97,000	$ 134,000

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)		6 Months Ended
	Jun. 24, 2022	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt		$ 657,058,000		$ 654,146,000
Term loan principal repaid		$ 24,286,000	$ 14,286,000
Debt instrument maturity dates description		The notes had original maturities of seven to 12 years with mandatory principal payments beginning four, five and six years after issuance
Multi-Currency Credit Facility with Syndicate of Banks [Member]
Debt Instrument [Line Items]
Borrowing capacity	$ 450,000,000
Committed multi-currency credit facility, maturity date	Jun. 24, 2027
Multi-Currency Revolving Credit Facility [Member] | Multi-Currency Credit Facility with Syndicate of Banks [Member]
Debt Instrument [Line Items]
Borrowing capacity	$ 350,000,000
Delayed Draw Term Loan Credit Facility [Member]
Debt Instrument [Line Items]
Borrowing capacity		$ 92,500,000
Term loan principal repaid		7,500,000
Delayed Draw Term Loan Credit Facility [Member] | Multi-Currency Credit Facility with Syndicate of Banks [Member]
Debt Instrument [Line Items]
Borrowing capacity	$ 100,000,000
Multi Currency Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Outstanding borrowings, including term loan		313,280,000
Letters of Credit Outstanding		11,747,000
Unused Revolving credit		117,473,000
Unrestricted retained earnings		241,925,000		$ 234,399,000
Unsecured Private Placement Notes [Member]
Debt Instrument [Line Items]
Total debt		$ 335,779,000
Unsecured Private Placement Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument interest rate percentage		2.30%
Maturity Dates		7 years
Unsecured Private Placement Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument interest rate percentage		3.95%
Maturity Dates		12 years
CIC Credit Agreement [Member]
Debt Instrument [Line Items]
Borrowing capacity		$ 8,700,000
CIC Credit Agreement [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Borrowing capacity		$ 8,694,000

Other, Net - Other Net in Conde

Other, Net - Other Net in Condensed Consolidated Statements of Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Nonoperating Income (Expense) [Abstract]
Foreign exchange gains (losses)	$ (27)	$ 406	$ (402)	$ 82
Investment income	131	71	191	214
Realized and unrealized gains on investments	679	1,563	2,946	3,079
Net periodic benefit cost	417	330	827	663
Other, net	$ 1,200	$ 2,370	$ 3,562	$ 4,038

Noncash Investing and Financi_2

Noncash Investing and Financing Activities - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Supplemental Cash Flow Elements [Line Items]
Noncash investing activities, payables incurred for property, plant and equipment expenditures, unpaid	$ 9,003,000	$ 24,101,000
Common Stock [Member] | Stock Award Plan [Member]
Supplemental Cash Flow Elements [Line Items]
Noncash financing activities shares issued	113,184	97,590
Noncash financing activities issued value	$ 10,132,000	$ 10,463,000

Other Matter - Additional Infor

Other Matter - Additional Information (Detail)	3 Months Ended
	Jun. 30, 2024 USD ($)
Other Matter [line Items]
Pre tax charge	$ 3,500,000

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements - Additional Information (Details)	6 Months Ended
	Jun. 30, 2024 Country
Accounting Changes and Error Corrections [Abstract]
Percentage of global minimum tax on reported profits	15%
Number of countries	100