Restructuring and Related Activities

9 Months Ended

Sep. 30, 2016

Restructuring And Related Activities [Abstract]

Restructuring And Related Activities Disclosure [TextBlock]

Note 3 – Restructuring and Related Activities

In response to continued weak economic conditions and market declines in many regions, Quaker’s management approved a global restructuring plan (the “2015 Program”) in the fourth quarter of 2015 to reduce its operating costs. The 2015 Program includes the re-organization of certain commercial functions, the consolidation of certain distribution, laboratory and administrative offices, and other related severance charges. In addition to these actions, the Company made a decision to make available-for-sale certain technology of one of its existing businesses, which also resulted in employee severance and $0.3 million of intangible assets being reclassified to other current assets as of December 31, 2015. During the nine months endedSeptember 30, 2016, there has been no further update and the intangible assets continue to be available for sale and included in other current assets.

The 2015 Program includes provisions for the reduction of total headcount of approximately 65 employees globally. Employee separation benefits varied depending on local regulations within certain foreign countries and included severance and other benefits. The Company still expects to substantially complete all of the initiatives under the 2015 Program in 2016 and expects settlement of these charges to occur primarily in 2016 as well. The Company has not incurred additional restructuring expenses in connection with the 2015 Program during the first nine months of 2016, and at this time the Company does not expect material additional restructuring expenses beyond customary and routine adjustments to initial estimates for employee separation benefits.

Restructuring activity recognized in each reportable operating segment in connection with the 2015 Program is as follows:

		North						South
		America		EMEA		Asia/Pacific		America		Total
Accrued restructuring as of
December 31, 2015		$	1,867	$	4,265	$	135	$	36	$	6,303
	Cash payments		(1,318)		(2,700)		(137)		(39)		(4,194)
	Currency translation adjustments		—		119		2		3		124
Accrued restructuring as of
September 30, 2016		$	549	$	1,684	$	—	$	—	$	2,233