Earnings Per Share

3 Months Ended

Mar. 31, 2017

Note 9 – Earnings Per Share

The following table summarizes earnings per share calculations for the three months ended March 31, 2017 and 2016:

		Three Months Ended
		March 31,
		2017		2016
Basic earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	6,992	$	12,946
	Less: income allocated to participating securities		(55)		(113)
	Net income available to common shareholders	$	6,937	$	12,833
	Basic weighted average common shares outstanding		13,176,096		13,116,807
Basic earnings per common share		$	0.53	$	0.98

Diluted earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	6,992	$	12,946
	Less: income allocated to participating securities		(54)		(113)
	Net income available to common shareholders	$	6,938	$	12,833
	Basic weighted average common shares outstanding		13,176,096		13,116,807
	Effect of dilutive securities		44,965		12,587
	Diluted weighted average common shares outstanding		13,221,061		13,129,394
Diluted earnings per common share		$	0.52	$	0.98

Certain stock options and restricted stock units are not included in the diluted earnings per share calculation since the effect would have been anti-dilutive. The calculated amount of anti-dilutive shares not included were 3,507 and 11,742 for the three months ended March 31, 2017 and 2016, respectively.