Hedging Activities

12 Months Ended

Dec. 31, 2011

General Discussion Of Derivative Instruments And Hedging Activities [Abstract]

Derivative Instruments And Hedging Activities Disclosure [Text Block]

Note 5 – Hedging Activities

The Company is exposed to the impact of changes in interest rates, foreign currency fluctuations, changes in commodity prices and credit risk. The Company does not use derivative instruments to mitigate the risks associated with foreign currency fluctuations, changes in commodity prices or credit risk. Quaker uses interest rate swaps to mitigate the impact of changes in interest rates. The swaps are designated as cash flow hedges and reported on the Consolidated Balance Sheet at fair value. The effective portions of the hedges are reported in Other Comprehensive Income (“OCI”) until reclassified to earnings during the same period the hedged item affects earnings. The Company has no derivatives designated as fair value hedges and only has derivatives designated as hedging instruments under the FASB's authoritative guidance. The notional amount of the Company's interest rate swaps was $15,000as of December 31,2011and December 31,2010.

Information about the Company's interest rate derivatives is as follows:

				Fair Value
			Consolidated Balance Sheet	December 31,		December 31,
		Location		2011		2010
Derivatives designated as cash flow hedges:
	Interest rate swaps	Other current liabilities		$	418	$	0
	Interest rate swaps	Other non-current liabilities			0		1,026
				$	418	$	1,026

Cash Flow Hedges
Interest Rate Swaps
		For the Years Ended
		December 31,
		2011		2010		2009
Amount of Gain Recognized in
Accumulated OCI on Derivative (Effective Portion)		$	395	$	708	$	642
Amount and Location of Loss Reclassified from
Accumulated OCI into Income (Effective Portion)	Interest Expense	$	(660)	$	(1,590)	$	(1,594)
Amount and Location of Loss Recognized in Income on Derivative
(Ineffective Portion and Amount Excluded from Effectiveness Testing)	Other Income	$	0	$	0	$	0