Hedging Activities

3 Months Ended

Mar. 31, 2012

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 convert a portion of the Company's variable interest rate debt to fixed interest rate debt and are designated as cash flow hedges and reported on the 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 guidance. The notional amount of the Company's interest rate swaps was $15,000 as of March 31, 2012 and December 31, 2011.

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

			Fair Value
			March 31,		December 31,
		Balance Sheet Location	2012		2011
Derivatives designated as cash flow hedges:
	Interest rate swaps	Other current liabilities	$	270	$	418
			$	270	$	418

Cash Flow Hedges
Interest Rate Swaps
		Three Months Ended
		March 31,
		2012		2011
Amount of Gain Recognized in Accumulated OCI on Derivative (Effective Portion)		$	96	$	96
Amount and Location of Loss Reclassified from Accumulated OCI into Income
(Effective Portion)	Interest Expense	$	(158)	$	(163)
Amount and Location of Loss Recognized in Income on Derivative (Ineffective
Portion and Amount Excluded from Effectiveness Testing)	Other Income	$	0	$	0