Earnings Per Share

6 Months Ended

Jun. 30, 2017

Note 10 – Earnings Per Share

The following table summarizes earnings per share calculations for the three and six months ended June 30, 2017 and 2016:

		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2017		2016		2017		2016
Basic earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	11,906	$	15,015	$	18,898	$	27,961
	Less: income allocated to participating securities		(82)		(130)		(145)		(243)
	Net income available to common shareholders	$	11,824	$	14,885	$	18,753	$	27,718
	Basic weighted average common shares outstanding		13,195,053		13,126,134		13,185,627		13,121,470
Basic earnings per common share		$	0.90	$	1.13	$	1.42	$	2.11

Diluted earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	11,906	$	15,015	$	18,898	$	27,961
	Less: income allocated to participating securities		(82)		(130)		(145)		(243)
	Net income available to common shareholders	$	11,824	$	14,885	$	18,753	$	27,718
	Basic weighted average common shares outstanding		13,195,053		13,126,134		13,185,627		13,121,470
	Effect of dilutive securities		45,226		18,579		45,310		15,183
	Diluted weighted average common shares outstanding		13,240,279		13,144,713		13,230,937		13,136,653
Diluted earnings per common share		$	0.89	$	1.13	$	1.42	$	2.11

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-diluted shares not included were 5,278 and 4,984 for the three and six months ended June 30, 2017, respectively, and 7,667 and 3,506 for the three and six months ended June 30, 2016, respectively.