Earnings Per Share

9 Months Ended

Sep. 30, 2016

Note 9 – Earnings Per Share

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

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2016		2015		2016		2015
Basic earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	16,008	$	14,371	$	43,969	$	39,787
	Less: income allocated to participating securities		(130)		(121)		(373)		(351)
	Net income available to common shareholders	$	15,878	$	14,250	$	43,596	$	39,436
	Basic weighted average common shares outstanding		13,143,884		13,209,119		13,128,996		13,206,122
Basic earnings per common share		$	1.21	$	1.08	$	3.32	$	2.99

Diluted earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	16,008	$	14,371	$	43,969	$	39,787
	Less: income allocated to participating securities		(130)		(121)		(373)		(350)
	Net income available to common shareholders	$	15,878	$	14,250	$	43,596	$	39,437
	Basic weighted average common shares outstanding		13,143,884		13,209,119		13,128,996		13,206,122
	Effect of dilutive securities		29,960		13,333		18,829		16,181
	Diluted weighted average common shares outstanding		13,173,844		13,222,452		13,147,825		13,222,303
Diluted earnings per common share		$	1.21	$	1.08	$	3.32	$	2.98

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: 0 and 3,465 for the three and nine months ended September 30, 2016, respectively, and 7,903 and 6,460 for the three and nine months ended September 30, 2015, respectively.