Equity and Noncontrolling Interest

9 Months Ended

Sep. 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 currently 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 bein 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 nine months ended September 30, 2016, and 59,110 shares of common stock for $5.0 million during the nine months ended September 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 nine months endedSeptember 30, 2016 and 2015:

									Accumulated
					Capital in				Other
			Common		Excess of		Retained		Comprehensive		Noncontrolling
			Stock		Par Value		Earnings		Loss		Interest		Total
Balance at June 30, 2016			$	13,250	$	109,751	$	340,127	$	(71,790)	$	8,895	$	400,233
	Net income			—		—		16,008		—		343		16,351
	Amounts reported in other comprehensive
		(loss) income		—		—		—		(237)		177		(60)
	Dividends ($0.345 per share)			—		—		(4,575)		—		—		(4,575)
	Acquisition of noncontrolling interest			—		—		—		—		40		40
	Share issuance and equity-based
		compensation plans		7		1,671		—		—		—		1,678
	Excess tax benefit from stock option exercises			—		31		—		—		—		31
Balance at September 30, 2016			$	13,257	$	111,453	$	351,560	$	(72,027)	$	9,455	$	413,698
Balance at June 30, 2015			$	13,337	$	103,082	$	315,060	$	(60,771)	$	7,818	$	378,526
	Net income			—		—		14,371		—		464		14,835
	Amounts reported in other comprehensive
		loss		—		—		—		(10,994)		(367)		(11,361)
	Repurchases of common stock			(40)		—		(3,319)		—		—		(3,359)
	Dividends ($0.32 per share)			—		—		(4,256)		—		—		(4,256)
	Share issuance and equity-based
		compensation plans		9		1,735		—		—		—		1,744
	Excess tax benefit from stock option exercises			—		22		—		—		—		22
Balance at September 30, 2015			$	13,306	$	104,839	$	321,856	$	(71,765)	$	7,915	$	376,151

									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			—		—		43,969		—		1,131		45,100
	Amounts reported in other comprehensive
		income		—		—		—		1,289		86		1,375
	Repurchases of common stock			(84)		—		(5,775)		—		—		(5,859)
	Dividends ($1.01 per share)			—		—		(13,374)		—		—		(13,374)
	Acquisition of noncontrolling interest			—		—		—		—		40		40
	Share issuance and equity-based
		compensation plans		53		4,953		—		—		—		5,006
	Excess tax benefit from stock option exercises			—		167		—		—		—		167
Balance at September 30, 2016			$	13,257	$	111,453	$	351,560	$	(72,027)	$	9,455	$	413,698
Balance at December 31, 2014			$	13,301	$	99,056	$	299,524	$	(54,406)	$	7,660	$	365,135
	Net income			—		—		39,787		—		1,067		40,854
	Amounts reported in other comprehensive
		loss		—		—		—		(17,359)		(461)		(17,820)
	Repurchases of common stock			(59)		—		(4,930)		—		—		(4,989)
	Dividends ($0.94 per share)			—		—		(12,525)		—		—		(12,525)
	Disposition of noncontrolling interest			—		—		—		—		(351)		(351)
	Share issuance and equity-based
		compensation plans		64		5,383		—		—		—		5,447
	Excess tax benefit from stock option exercises			—		400		—		—		—		400
Balance at September 30, 2015			$	13,306	$	104,839	$	321,856	$	(71,765)	$	7,915	$	376,151

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

							Unrealized
			Currency		Defined		Gain (Loss) in
			Translation		Benefit		Available-for-
			Adjustments		Pension Plans		Sale Securities		Total
Balance at June 30, 2016			$	(38,812)	$	(34,070)	$	1,092	$	(71,790)
	Other comprehensive (loss) income before
		reclassifications		(892)		3		575		(314)
	Amounts reclassified from AOCI			—		713		(280)		433
	Current period other comprehensive (loss) income			(892)		716		295		119
	Related tax amounts			—		(256)		(100)		(356)
	Net current period other comprehensive (loss) income			(892)		460		195		(237)
Balance at September 30, 2016			$	(39,704)	$	(33,610)	$	1,287	$	(72,027)
Balance at June 30, 2015			$	(22,833)	$	(39,124)	$	1,186	$	(60,771)
	Other comprehensive (loss) income before
		reclassifications		(11,013)		170		(861)		(11,704)
	Amounts reclassified from AOCI			—		849		(179)		670
	Current period other comprehensive (loss) income			(11,013)		1,019		(1,040)		(11,034)
	Related tax amounts			—		(313)		353		40
	Net current period other comprehensive (loss) income			(11,013)		706		(687)		(10,994)
Balance at September 30, 2015			$	(33,846)	$	(38,418)	$	499	$	(71,765)

							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		(1,160)		116		1,087		43
	Amounts reclassified from AOCI			—		2,313		136		2,449
	Current period other comprehensive (loss) income			(1,160)		2,429		1,223		2,492
	Related tax amounts			—		(788)		(415)		(1,203)
	Net current period other comprehensive (loss) income			(1,160)		1,641		808		1,289
Balance at September 30, 2016			$	(39,704)	$	(33,610)	$	1,287	$	(72,027)
Balance at December 31, 2014			$	(14,312)	$	(41,551)	$	1,457	$	(54,406)
	Other comprehensive (loss) income before
		reclassifications		(19,534)		1,821		(956)		(18,669)
	Amounts reclassified from AOCI			—		2,608		(495)		2,113
	Current period other comprehensive (loss) income			(19,534)		4,429		(1,451)		(16,556)
	Related tax amounts			—		(1,296)		493		(803)
	Net current period other comprehensive (loss) income			(19,534)		3,133		(958)		(17,359)
Balance at September 30, 2015			$	(33,846)	$	(38,418)	$	499	$	(71,765)

Approximately 70% and 30% of the amounts reclassified from accumulated other comprehensive loss to the Condensed Consolidated Statements of Income for defined benefit retirement plans during the three and nine months ended September 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.