Earnings Per Share

9 Months Ended

Sep. 30, 2015

Note 8 – Earnings Per Share

The following table summarizes earnings per share calculations for the three and nine months ended September 30, 2015 and 2014:

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2015		2014		2015		2014
Basic earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	14,371	$	15,696	$	39,787	$	43,853
	Less: income allocated to participating securities		(121)		(140)		(351)		(385)
	Net income available to common shareholders	$	14,250	$	15,556	$	39,436	$	43,468
	Basic weighted average common shares outstanding		13,209,119		13,133,668		13,206,122		13,114,553
Basic earnings per common share		$	1.08	$	1.18	$	2.99	$	3.31

Diluted earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	14,371	$	15,696	$	39,787	$	43,853
	Less: income allocated to participating securities		(121)		(140)		(350)		(384)
	Net income available to common shareholders	$	14,250	$	15,556	$	39,437	$	43,469
	Basic weighted average common shares outstanding		13,209,119		13,133,668		13,206,122		13,114,553
	Effect of dilutive securities		13,333		22,673		16,181		21,147
	Diluted weighted average common shares outstanding		13,222,452		13,156,341		13,222,303		13,135,700
Diluted earnings per common share		$	1.08	$	1.18	$	2.98	$	3.31

The following aggregate numbers of stock options and restricted stock units are not included in the diluted earnings per share calculation since the effect would have been anti-dilutive: 7,903 and 6,146 for the three months ended September 30, 2015 and 2014, respectively, and 6,460 and 5,254 for the nine months ended September 30, 2015 and 2014, respectively.