Quarterly Results (unaudited)

12 Months Ended

Dec. 31, 2012

Quarterly Results (unaudited) [Abstract]

Quarterly Results (unaudited) [Text Block]

Note 21 – Quarterly Results (unaudited)

			First (1)		Second (2)		Third (3)		Fourth (4)
2012			(re-cast)		(re-cast)		(re-cast)
	Net sales		$	177,638	$	176,797	$	180,923	$	172,868
	Gross profit			59,795		60,636		59,126		59,154
	Operating income			16,702		16,983		15,863		13,676
	Net income attributable to Quaker Chemical Corporation			12,365		11,108		10,925		13,007
	Net income attributable to Quaker Chemical Corporation
		Common Shareholders - Basic	$	0.96	$	0.86	$	0.84	$	0.99
	Net income attributable to Quaker Chemical Corporation
		Common Shareholders - Diluted	$	0.95	$	0.85	$	0.83	$	0.99
			First (1)		Second (2)		Third (3)		Fourth (4)
2011			(re-cast)		(re-cast)		(re-cast)		(re-cast)
	Net sales		$	159,865	$	167,792	$	182,313	$	173,261
	Gross profit			52,734		53,766		59,486		56,664
	Operating income			14,100		14,941		17,504		11,367
	Net income attributable to Quaker Chemical Corporation			11,026		10,554		13,942		10,370
	Net income attributable to Quaker Chemical Corporation
		Common Shareholders - Basic	$	0.96	$	0.86	$	1.09	$	0.80
	Net income attributable to Quaker Chemical Corporation
		Common Shareholders - Diluted	$	0.94	$	0.85	$	1.07	$	0.80

(1)       Net income attributable to Quaker Chemical Corporation includes tax benefits of approximately $0.12 and $0.11 per diluted share in the first quarters of 2012 and 2011, respectively,resulting from the derecognition of several uncertain tax positions due to the expiration of applicable statutes of limitation.

(2)       Net income attributable to Quaker Chemical Corporation includes charges of approximately $0.06 per diluted share in the second quarter of 2012 due to certain customer bankruptcies in the U.S. and approximately $0.03 per diluted share related to CFO transition costs.

(3)Net income attributable to Quaker Chemical Corporation includes tax benefits of approximately $0.03 per diluted share in both the third quarters of 2012 and 2011 resulting from the derecognition of several uncertain tax positions due to the expiration of applicable statutes of limitation. Net income attributable to Quaker Chemical Corporation also includes certain uncommon charges of $0.05 per diluted share largely consisting of severance and other related costs and costs associated with the launch of the Company's new revitalized Brand. Net income attributable to Quaker Chemical Corporation in the third quarter of 2011 includes earnings per diluted share of $0.22 representing the revaluation of the Company's previously held ownership interest in its Mexican equity affiliate to its fair value related to the purchase of the remaining ownership interest in this affiliate.

(4)Net income attributable to Quaker Chemical Corporation includes tax benefits of approximately $0.02 per diluted common share in both the fourth quarters of 2012 and 2011resulting from the derecognition of several uncertain tax positions due to the expiration of applicable statutes of limitation. Net income attributable to Quaker Chemical Corporation also includes earnings per diluted share of $0.09 and $0.03in the fourth quarters of 2012 and 2011, respectively, related to changes in the fair value of a contingent consideration liability during each respective period. In addition, net income attributable to Quaker Chemical Corporation for the fourth quarter of 2012includes earnings per diluted share of $0.08 related to a separate change in the fair value of an acquisition-related liability. Net income attributable to Quaker Chemical Corporation for the fourth quarter of 2012 also includes certain uncommon charges of $0.06 per diluted share largely consisting of

During 2012, the Company's ownership percentage in Primex, Ltd., a captive insurance company, increased following the exit of one of its shareholders.  Due to the increased ownership percentage and other factors, the Company changed its method of accounting for its investment in Primex from the cost method to the equity method of accounting.  In accordance with FASB's guidance, the equity method of accounting must be applied on a retrospective basis.  As a result, the Company has recast its Condensed Financial Statements for the three months ended March 31, 2012 and March 31, 2011, June 30, 2012 and June 30, 2011, September 30, 2012 and September 30, 2011 and December 31, 2011. The Company did not amend and restate any of its quarterly reports on Form 10-Q for 2012, because the errors identified were not deemed material to any individual period.

The following tablesset forth the impact, by line item per financial statement, of the retrospective application of the change in method of accounting (amounts in thousands, except per share data):

	Three Months Ended
Condensed Consolidated Statement of Income	March 31, 2012		June 30, 2012		September 30, 2012
Equity in net income of associated companies	$	419	$	568	$	439
Net income attributable to Quaker Chemical Corporation	$	419	$	568	$	439
Net income attributable to Quaker Chemical Corporation Common Shareholders - Diluted	$	0.04	$	0.04	$	0.03
Condensed Consolidated Balance Sheet	March 31, 2012		June 30, 2012		September 30, 2012
Investments in associated companies	$	7,620	$	7,819	$	8,685
Other assets		(500)		(500)		(500)
Total assets	$	7,120	$	7,319	$	8,185
Retained earnings	$	5,197	$	5,765	$	6,204
Accumulated other comprehensive loss		1,923		1,554		1,981
Total equity	$	7,120	$	7,319	$	8,185
	Three Months Ended
Condensed Consolidated Statement of Income	March 31, 2011		June 30, 2011		September 30, 2011		December 31, 2011
Equity in net income of associated companies	$	426	$	713	$	584	$	600
Net income attributable to Quaker Chemical Corporation	$	426	$	713	$	584	$	600
Net income attributable to Quaker Chemical Corporation Common Shareholders - Diluted	$	0.03	$	0.06	$	0.04	$	0.05
Condensed Consolidated Balance Sheet	March 31, 2011		June 30, 2011		September 30, 2011		December 31, 2011
Investments in associated companies	$	4,486	$	5,248	$	4,919	$	6,131
Other assets		(500)		(500)		(500)		(500)
Total assets	$	3,986	$	4,748	$	4,419	$	5,631
Retained earnings	$	2,881	$	3,594	$	4,178	$	4,778
Accumulated other comprehensive loss		1,105		1,154		241		853
Total equity	$	3,986	$	4,748	$	4,419	$	5,631