Earnings Per Share

6 Months Ended

Jun. 30, 2016

Note 9 – Earnings Per Share

The following table summarizes earnings per share calculations for the three and six months ended June 30, 2016 and 2015:

		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2016		2015		2016		2015
Basic earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	15,015	$	15,038	$	27,961	$	25,416
	Less: income allocated to participating securities		(130)		(131)		(243)		(229)
	Net income available to common shareholders	$	14,885	$	14,907	$	27,718	$	25,187
	Basic weighted average common shares outstanding		13,126,134		13,220,264		13,121,470		13,204,599
Basic earnings per common share		$	1.13	$	1.13	$	2.11	$	1.91

Diluted earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	15,015	$	15,038	$	27,961	$	25,416
	Less: income allocated to participating securities		(130)		(131)		(243)		(229)
	Net income available to common shareholders	$	14,885	$	14,907	$	27,718	$	25,187
	Basic weighted average common shares outstanding		13,126,134		13,220,264		13,121,470		13,204,599
	Effect of dilutive securities		18,579		19,411		15,183		19,251
	Diluted weighted average common shares outstanding		13,144,713		13,239,675		13,136,653		13,223,850
Diluted earnings per common share		$	1.13	$	1.13	$	2.11	$	1.90

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: 3,506 and 7,667 for the three and six months ended June 30, 2016, respectively, and 7,559 and 5,856 for the three and six months ended June 30, 2015, respectively.