Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 349,938	$ 315,383
Receivables, less allowances of $10,133 in 2020 and $9,325 in 2019	301,318	276,841
Inventories (Note 5)	218,783	203,647
Other current assets	35,612	22,918
Total current assets	905,651	818,789
Property, Plant and Equipment:
Land	27,135	27,258
Buildings and improvements	248,234	223,793
Machinery and equipment	1,476,675	1,415,802
Construction in progress	120,606	95,282
Property, Plant and Equipment, Gross	1,872,650	1,762,135
Less: Accumulated depreciation	(1,189,983)	(1,122,818)
Property, plant and equipment, net	682,667	639,317
Goodwill, net (Note 4)	27,972	26,086
Other intangible assets, net (Note 4)	24,068	15,352
Long-term investments (Note 2)	30,652	28,227
Operating lease assets (Note 7)	62,421	38,386
Other non-current assets	18,905	13,210
Total Assets	1,752,336	1,579,367
Current Liabilities:
Current maturities of long-term debt (Note 6)	37,857	23,571
Accounts payable	236,750	194,276
Accrued liabilities (Note 14)	141,947	121,267
Total current liabilities	416,554	339,114
Deferred income taxes (Note 9)	20,745	23,391
Long-term debt, less current maturities (Note 6)	160,812	198,532
Non-current operating lease liability (Note 7)	51,567	29,654
Other non-current liabilities (Note 15)	114,293	96,180
Commitments and Contingencies (Note 16)
Equity (Note 10):
Common stock, $1 par value; authorized 60,000,000 shares; issued 26,658,032 shares in 2020 and 26,493,335 shares in 2019	26,658	26,493
Additional paid-in capital	206,716	193,135
Accumulated other comprehensive loss (Note 19)	(136,881)	(136,170)
Retained earnings	1,023,829	922,464
Less: Common treasury stock, at cost, 4,185,242 shares in 2020 and 3,979,735 shares in 2019	(133,629)	(114,139)
Total Stepan Company stockholders’ equity	986,693	891,783
Noncontrolling interest	1,672	713
Total equity	988,365	892,496
Total Liabilities and Equity	$ 1,752,336	$ 1,579,367

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).