Equity and Noncontrolling Interest

6 Months Ended

Jun. 30, 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 a level that offers an advantageous return for its shareholders. The purchases may be made in the open market or in private and negotiated transactions and will be, 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 six months ended June 30, 2016, and 18,854 shares of common stock for $1.6 million during the six months ended June 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, net of tax, for the three and six months endedJune 30, 2016 and 2015:

									Accumulated
					Capital in				Other
			Common		Excess of		Retained		Comprehensive		Noncontrolling
			Stock		Par Value		Earnings		Loss		Interest		Total
Balance at March 31, 2016			$	13,236	$	107,950	$	329,684	$	(68,002)	$	8,658	$	391,526
	Net income			—		—		15,015		—		390		15,405
	Amounts reported in other comprehensive
		loss		—		—		—		(3,788)		(153)		(3,941)
	Dividends ($0.345 per share)			—		—		(4,572)		—		—		(4,572)
	Share issuance and equity-based
		compensation plans		14		1,769		—		—		—		1,783
	Excess tax benefit from stock option exercises			—		32		—		—		—		32
Balance at June 30, 2016			$	13,250	$	109,751	$	340,127	$	(71,790)	$	8,895	$	400,233
Balance at March 31, 2015			$	13,332	$	100,947	$	305,902	$	(62,971)	$	7,919	$	365,129
	Net income			—		—		15,038		—		374		15,412
	Amounts reported in other comprehensive
		income (loss)		—		—		—		2,200		(124)		2,076
	Repurchases of common stock			(19)		—		(1,611)		—		—		(1,630)
	Dividends ($0.32 per share)			—		—		(4,269)		—		—		(4,269)
	Disposition of noncontrolling interest			—		—		—		—		(351)		(351)
	Share issuance and equity-based
		compensation plans		24		2,044		—		—		—		2,068
	Excess tax benefit from stock option exercises			—		91		—		—		—		91
Balance at June 30, 2015			$	13,337	$	103,082	$	315,060	$	(60,771)	$	7,818	$	378,526

									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			—		—		27,961		—		788		28,749
	Amounts reported in other comprehensive
		income (loss)		—		—		—		1,526		(91)		1,435
	Repurchases of common stock			(84)		—		(5,775)		—		—		(5,859)
	Dividends ($0.665 per share)			—		—		(8,799)		—		—		(8,799)
	Share issuance and equity-based
		compensation plans		46		3,282		—		—		—		3,328
	Excess tax benefit from stock option exercises			—		136		—		—		—		136
Balance at June 30, 2016			$	13,250	$	109,751	$	340,127	$	(71,790)	$	8,895	$	400,233
Balance at December 31, 2014			$	13,301	$	99,056	$	299,524	$	(54,406)	$	7,660	$	365,135
	Net income			—		—		25,416		—		603		26,019
	Amounts reported in other comprehensive
		loss		—		—		—		(6,365)		(94)		(6,459)
	Repurchases of common stock			(19)		—		(1,611)		—		—		(1,630)
	Dividends ($0.62 per share)			—		—		(8,269)		—		—		(8,269)
	Disposition of noncontrolling interest			—		—		—		—		(351)		(351)
	Share issuance and equity-based
		compensation plans		55		3,648		—		—		—		3,703
	Excess tax benefit from stock option exercises			—		378		—		—		—		378
Balance at June 30, 2015			$	13,337	$	103,082	$	315,060	$	(60,771)	$	7,818	$	378,526

The following tables show the reclassifications from and resulting balances of accumulated other comprehensive loss (“AOCI”) for the three and six months endedJune 30, 2016 and 2015:

							Unrealized
			Currency		Defined		Gain (Loss) in
			Translation		Benefit		Available-for-
			Adjustments		Pension Plans		Sale Securities		Total
Balance at March 31, 2016			$	(33,873)	$	(35,064)	$	935	$	(68,002)
	Other comprehensive (loss) income before
		reclassifications		(4,939)		590		320		(4,029)
	Amounts reclassified from AOCI			—		802		(82)		720
	Current period other comprehensive (loss) income			(4,939)		1,392		238		(3,309)
	Related tax amounts			—		(398)		(81)		(479)
	Net current period other comprehensive (loss) income			(4,939)		994		157		(3,788)
Balance at June 30, 2016			$	(38,812)	$	(34,070)	$	1,092	$	(71,790)
Balance at March 31, 2015			$	(25,425)	$	(39,073)	$	1,527	$	(62,971)
	Other comprehensive income (loss) before
		reclassifications		2,592		(847)		(365)		1,380
	Amounts reclassified from AOCI			—		878		(152)		726
	Current period other comprehensive income (loss)			2,592		31		(517)		2,106
	Related tax amounts			—		(82)		176		94
	Net current period other comprehensive income (loss)			2,592		(51)		(341)		2,200
Balance at June 30, 2015			$	(22,833)	$	(39,124)	$	1,186	$	(60,771)

							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 (loss) income before
		reclassifications		(268)		113		512		357
	Amounts reclassified from AOCI			—		1,600		416		2,016
	Current period other comprehensive (loss) income			(268)		1,713		928		2,373
	Related tax amounts			—		(532)		(315)		(847)
	Net current period other comprehensive (loss) income			(268)		1,181		613		1,526
Balance at June 30, 2016			$	(38,812)	$	(34,070)	$	1,092	$	(71,790)
Balance at December 31, 2014			$	(14,312)	$	(41,551)	$	1,457	$	(54,406)
	Other comprehensive (loss) income before
		reclassifications		(8,521)		1,651		(95)		(6,965)
	Amounts reclassified from AOCI			—		1,759		(316)		1,443
	Current period other comprehensive (loss) income			(8,521)		3,410		(411)		(5,522)
	Related tax amounts			—		(983)		140		(843)
	Net current period other comprehensive (loss) income			(8,521)		2,427		(271)		(6,365)
Balance at June 30, 2015			$	(22,833)	$	(39,124)	$	1,186	$	(60,771)

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 and six months ended June 30, 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.