Earnings Per Share

9 Months Ended

Sep. 30, 2017

Note 10 – Earnings Per Share

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

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2017		2016		2017		2016
Basic earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	11,142	$	16,008	$	30,040	$	43,969
	Less: income allocated to participating securities		(76)		(130)		(222)		(373)
	Net income available to common shareholders	$	11,066	$	15,878	$	29,818	$	43,596
	Basic weighted average common shares outstanding		13,217,165		13,143,884		13,196,255		13,128,996
Basic earnings per common share		$	0.84	$	1.21	$	2.26	$	3.32

Diluted earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	11,142	$	16,008	$	30,040	$	43,969
	Less: income allocated to participating securities		(76)		(130)		(222)		(373)
	Net income available to common shareholders	$	11,066	$	15,878	$	29,818	$	43,596
	Basic weighted average common shares outstanding		13,217,165		13,143,884		13,196,255		13,128,996
	Effect of dilutive securities		34,528		29,960		41,818		18,829
	Diluted weighted average common shares outstanding		13,251,693		13,173,844		13,238,073		13,147,825
Diluted earnings per common share		$	0.83	$	1.21	$	2.25	$	3.32

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 4,300 and 4,819 for the three and nine months ended September 30, 2017, respectively, and 0 and 3,465 for the three and nine months ended September 30, 2016, respectively.