Equity and Noncontrolling Interest

9 Months Ended

Sep. 30, 2015

Stockholders Equity [Abstract]

Stockholders Equity Note Disclosure [Text Block]

Note 11 – Equity and Noncontrolling Interest

In May 2015, the Board of Directors of the Company authorized a share repurchase program authorizing the repurchase of up to $100,000 of Quaker Chemical Corporation common stock (the “2015 Share Repurchase Program”). The 2015 Share Repurchase Program has no expiration date. The 2015 Share Repurchase Program provides a framework of conditions under which management can repurchase shares of the Company’s common stock. The Company intends to repurchase shares to at least offset the dilutive impact of shares issued each year as part of employee benefit and share based compensation plans. The purchases may be made in the open market or in private and negotiated transactions, in accordance with applicable laws, rules and regulations. In connection with the 2015 Share Repurchase Program, the remaining unutilized 1995 and 2005 Board of Directors authorized share repurchase programs were terminated.

In connection with the 2015 Share Repurchase Program, the Company acquired 59,110 shares of common stock, for $4,989, during the nine months ended September 30, 2015. The Company has elected not to hold treasury shares, and, therefore, has retired the shares as they are repurchased. It is the Company’s accounting policy to record the excess paid over par value as a reduction in retained earnings for all shares repurchased.

The following tables present the changes in equity and noncontrolling interest, net of tax, for the three and nine months endedSeptember 30, 2015 and 2014:

									Accumulated
					Capital in				other
			Common		excess of		Retained		comprehensive		Noncontrolling
			stock		par value		earnings		loss		interest		Total
Balance at June 30, 2015			$	13,337	$	103,082	$	315,060	$	(60,771)	$	7,818	$	378,526
	Net income			—		—		14,371		—		464		14,835
	Amounts reported in other comprehensive
		loss		—		—		—		(10,994)		(367)		(11,361)
	Repurchases of common stock			(40)		—		(3,319)		—		—		(3,359)
	Dividends ($0.32 per share)			—		—		(4,256)		—		—		(4,256)
	Share issuance and equity-based compensation
		plans		9		1,735		—		—		—		1,744
	Excess tax benefit from stock option exercises			—		22		—		—		—		22
Balance at September 30, 2015			$	13,306	$	104,839	$	321,856	$	(71,765)	$	7,915	$	376,151
Balance at June 30, 2014			$	13,242	$	95,508	$	279,161	$	(31,587)	$	8,386	$	364,710
	Net income			—		—		15,696		—		423		16,119
	Amounts reported in other comprehensive
		loss		—		—		—		(9,826)		(246)		(10,072)
	Dividends ($0.30 per share)			—		—		(3,981)		—		—		(3,981)
	Distributions to noncontrolling affiliate
		shareholders		—		—		—		—		(1,149)		(1,149)
	Acquisition of noncontrolling interest			—		7		—		—		148		155
	Share issuance and equity-based compensation
		plans		27		1,039		—		—		—		1,066
	Excess tax benefit from stock option exercises			—		163		—		—		—		163
Balance at September 30, 2014			$	13,269	$	96,717	$	290,876	$	(41,413)	$	7,562	$	367,011

									Accumulated
					Capital in				other
			Common		excess of		Retained		comprehensive		Noncontrolling
			stock		par value		earnings		loss		interest		Total
Balance at December 31, 2014			$	13,301	$	99,056	$	299,524	$	(54,406)	$	7,660	$	365,135
	Net income			—		—		39,787		—		1,067		40,854
	Amounts reported in other comprehensive
		loss		—		—		—		(17,359)		(461)		(17,820)
	Repurchases of common stock			(59)		—		(4,930)		—		—		(4,989)
	Dividends ($0.94 per share)			—		—		(12,525)		—		—		(12,525)
	Disposition of noncontrolling interest			—		—		—		—		(351)		(351)
	Share issuance and equity-based compensation
		plans		64		5,383		—		—		—		5,447
	Excess tax benefit from stock option exercises			—		400		—		—		—		400
Balance at September 30, 2015			$	13,306	$	104,839	$	321,856	$	(71,765)	$	7,915	$	376,151
Balance at December 31, 2013			$	13,196	$	99,038	$	258,285	$	(34,700)	$	8,877	$	344,696
	Net income			—		—		43,853		—		1,517		45,370
	Amounts reported in other comprehensive
		loss		—		—		—		(6,713)		(47)		(6,760)
	Dividends ($0.85 per share)			—		—		(11,262)		—		—		(11,262)
	Distributions to noncontrolling affiliate
		shareholders		—		—		—		—		(1,806)		(1,806)
	Acquisition of noncontrolling interest			—		(6,443)		—		—		(979)		(7,422)
	Share issuance and equity-based compensation
		plans		73		3,692		—		—		—		3,765
	Excess tax benefit from stock option exercises			—		430		—		—		—		430
Balance at September 30, 2014			$	13,269	$	96,717	$	290,876	$	(41,413)	$	7,562	$	367,011

The following tables show the reclassifications from and resulting balances of accumulated other comprehensive loss (“AOCI”) for the three and nine months endedSeptember 30, 2015 and 2014:

							Unrealized
			Currency		Defined		gain (loss) in
			translation		benefit		available-for-
			adjustments		pension plans		sale securities		Total
Balance at June 30, 2015			$	(22,833)	$	(39,124)	$	1,186	$	(60,771)
	Other comprehensive (loss) income before
		reclassifications		(11,013)		170		(861)		(11,704)
	Amounts reclassified from AOCI			—		849		(179)		670
	Current period other comprehensive (loss) income			(11,013)		1,019		(1,040)		(11,034)
	Related tax amounts			—		(313)		353		40
	Net current period other comprehensive (loss) income			(11,013)		706		(687)		(10,994)
Balance at September 30, 2015			$	(33,846)	$	(38,418)	$	499	$	(71,765)
Balance at June 30, 2014			$	3,208	$	(36,274)	$	1,479	$	(31,587)
	Other comprehensive (loss) income before
		reclassifications		(11,409)		1,698		(24)		(9,735)
	Amounts reclassified from AOCI			—		759		(300)		459
	Current period other comprehensive (loss) income			(11,409)		2,457		(324)		(9,276)
	Related tax amounts			—		(660)		110		(550)
	Net current period other comprehensive (loss) income			(11,409)		1,797		(214)		(9,826)
Balance at September 30, 2014			$	(8,201)	$	(34,477)	$	1,265	$	(41,413)

							Unrealized
			Currency		Defined		gain (loss) in
			translation		benefit		available-for-
			adjustments		pension plans		sale securities		Total
Balance at December 31, 2014			$	(14,312)	$	(41,551)	$	1,457	$	(54,406)
	Other comprehensive (loss) income before
		reclassifications		(19,534)		1,821		(956)		(18,669)
	Amounts reclassified from AOCI			—		2,608		(495)		2,113
	Current period other comprehensive (loss) income			(19,534)		4,429		(1,451)		(16,556)
	Related tax amounts			—		(1,296)		493		(803)
	Net current period other comprehensive (loss) income			(19,534)		3,133		(958)		(17,359)
Balance at September 30, 2015			$	(33,846)	$	(38,418)	$	499	$	(71,765)
Balance at December 31, 2013			$	1,152	$	(37,433)	$	1,581	$	(34,700)
	Other comprehensive (loss) income before
		reclassifications		(9,353)		1,842		1,481		(6,030)
	Amounts reclassified from AOCI			—		2,290		(1,959)		331
	Current period other comprehensive (loss) income			(9,353)		4,132		(478)		(5,699)
	Related tax amounts			—		(1,176)		162		(1,014)
	Net current period other comprehensive (loss) income			(9,353)		2,956		(316)		(6,713)
Balance at September 30, 2014			$	(8,201)	$	(34,477)	$	1,265	$	(41,413)

Approximately 30% and 70% of the amounts reclassified from accumulated other comprehensive loss to the Condensed Consolidated Statement of Income for defined benefit retirement plans during the three and nine months ended September 30, 2015 and 2014 were recorded in cost of goods sold and SG&A, respectively. See Note 5 of Notes to Condensed Consolidated Financial Statements for further information. All reclassifications related to unrealized gain (loss) in available-for-sale securities relate to the Company’s equity interest in a captive insurance company and are recorded in equity in net income of associated companies. The amounts reported in other comprehensive income for non-controlling interest are related to currency translation adjustments.