Equity and Noncontrolling Interest

3 Months Ended

Mar. 31, 2016

Stockholders Equity [Abstract]

Stockholders Equity Note Disclosure [Text Block]

Note 12 – Equity

In May 2015, the Company’s Board of Directors authorized a share repurchase program for the repurchase of up to $100.0 million 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 its employee benefit and share based compensation plans, and could repurchase more if the Company considers the share price to be at an amount that it considers an advantageous return for its shareholders. 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 83,879 shares of common stock, for $5.9 million, during the three months ended March 31, 2016, and had no repurchases during the three months ended March 31, 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, net of tax, for the three months endedMarch 31, 2016 and 2015:

									Accumulated
					Capital in				Other
			Common		Excess of		Retained		Comprehensive		Noncontrolling
			Stock		Par Value		Earnings		Loss		Interest		Total
Balance at December 31, 2015			$	13,288	$	106,333	$	326,740	$	(73,316)	$	8,198	$	381,243
	Net income			—		—		12,946		—		398		13,344
	Amounts reported in other comprehensive
		income		—		—		—		5,314		62		5,376
	Repurchases of common stock			(84)		—		(5,775)		—		—		(5,859)
	Dividends ($0.32 per share)			—		—		(4,227)		—		—		(4,227)
	Share issuance and equity-based compensation
		plans		32		1,513		—		—		—		1,545
	Excess tax benefit from stock option exercises			—		104		—		—		—		104
Balance at March 31, 2016			$	13,236	$	107,950	$	329,684	$	(68,002)	$	8,658	$	391,526
Balance at December 31, 2014			$	13,301	$	99,056	$	299,524	$	(54,406)	$	7,660	$	365,135
	Net income			—		—		10,378		—		229		10,607
	Amounts reported in other comprehensive
		(loss) income		—		—		—		(8,565)		30		(8,535)
	Dividends ($0.30 per share)			—		—		(4,000)		—		—		(4,000)
	Share issuance and equity-based compensation
		plans		31		1,604		—		—		—		1,635
	Excess tax benefit from stock option exercises			—		287		—		—		—		287
Balance at March 31, 2015			$	13,332	$	100,947	$	305,902	$	(62,971)	$	7,919	$	365,129

The following tables show the reclassifications from and resulting balances of accumulated other comprehensive loss (“AOCI”) for the three months endedMarch 31, 2016 and 2015:

							Unrealized
			Currency		Defined		Gain (Loss) in
			Translation		Benefit		Available-for-
			Adjustments		Pension Plans		Sale Securities		Total
Balance at December 31, 2015			$	(38,544)	$	(35,251)	$	479	$	(73,316)
	Other comprehensive income (loss) before
		reclassifications		4,671		(477)		192		4,386
	Amounts reclassified from AOCI			—		798		498		1,296
	Current period other comprehensive income			4,671		321		690		5,682
	Related tax amounts			—		(134)		(234)		(368)
	Net current period other comprehensive income			4,671		187		456		5,314
Balance at March 31, 2016			$	(33,873)	$	(35,064)	$	935	$	(68,002)
Balance at December 31, 2014			$	(14,312)	$	(41,551)	$	1,457	$	(54,406)
	Other comprehensive (loss) income before
		reclassifications		(11,113)		2,498		270		(8,345)
	Amounts reclassified from AOCI			—		881		(164)		717
	Current period other comprehensive (loss) income			(11,113)		3,379		106		(7,628)
	Related tax amounts			—		(901)		(36)		(937)
	Net current period other comprehensive (loss) income			(11,113)		2,478		70		(8,565)
Balance at March 31, 2015			$	(25,425)	$	(39,073)	$	1,527	$	(62,971)

Approximately 70% and 30%of the amounts reclassified from accumulated other comprehensive loss to the Condensed Consolidated Statement of Income for defined benefit retirement plans during the three months ended March 31, 2016 and 2015 were recorded in SG&A and cost of goods sold, respectively. See Note 6 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.