Earnings Per Share

3 Months Ended

Mar. 31, 2016

Note 9 – Earnings Per Share

The following table summarizes earnings per share calculations for the three months ended March 31, 2016 and 2015:

		Three Months Ended
		March 31,
		2016		2015
Basic earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	12,946	$	10,378
	Less: income allocated to participating securities		(113)		(96)
	Net income available to common shareholders	$	12,833	$	10,282
	Basic weighted average common shares outstanding		13,116,807		13,188,761
Basic earnings per common share		$	0.98	$	0.78

Diluted earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	12,946	$	10,378
	Less: income allocated to participating securities		(113)		(96)
	Net income available to common shareholders	$	12,833	$	10,282
	Basic weighted average common shares outstanding		13,116,807		13,188,761
	Effect of dilutive securities		12,587		19,896
	Diluted weighted average common shares outstanding		13,129,394		13,208,657
Diluted earnings per common share		$	0.98	$	0.78

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: 11,742 and 4,497 for the three months ended March 31, 2016 and 2015, respectively.