Restructuring and Related Activities

12 Months Ended

Dec. 31, 2017

Restructuring And Related Activities [Abstract]

Restructuring And Related Activities Disclosure [Text Block]

Note 5 – Restructuring and Related Activities

In response to 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 included 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, during the fourth quarter of 2015 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 fourth quarter of 2016, the Company made a decision to no longer market or make available-for-sale this technology, which resulted in $0.3 million of other current assets being reclassified back to intangible assets as of December 31, 2016.

The 2015 Program included provisions for the reduction of total headcount by approximately 65 employees globally. As a result of this program, the Company recognized a $6.8 million restructuring charge in the fourth quarter of 2015. Employee separation costs varied depending on local regulations within certain foreign countries and included severance and other benefits. The Company substantially completed all of the initiatives under the 2015 Program in 2016 and settlement of these charges occurred primarily in 2016 as well. During the fourth quarter of 2016, the Company recognized a restructuring credit of $0.4 million in connection with the 2015 Program, due to customary and routine adjustments to initial estimates for employee separation costs, as well as the reversal of certain accrued employee separation costs as a result of the change in available-for-sale technology, noted above. The Company completed all of the remaining initiatives under the 2015 Program during the first half of 2017 and does not expect to incur further restructuring charges under this program.

Restructuring activity recognized in each reportable operating segment in connection with the 2015 Program during the years ended December 31, 2017, 2016 and 2015 is as follows:

		North						South
		America		EMEA		Asia/Pacific		America		Total
Accrued restructuring as of
December 31, 2014		$	—	$	—	$	—	$	—	$	—
	Restructuring charges		2,025		4,390		338		37		6,790
	Cash payments		(158)		(130)		(202)		—		(490)
	Currency translation adjustments		—		5		(1)		(1)		3
Accrued restructuring as of
December 31, 2015			1,867		4,265		135		36		6,303
	Restructuring credits		—		(439)		—		—		(439)
	Cash payments		(1,671)		(3,404)		(138)		(39)		(5,252)
	Currency translation adjustments		—		52		3		3		58
Accrued restructuring as of
December 31, 2016			196		474		—		—		670
	Restructuring charges and adjustments		(126)		126		—		—		—
	Cash payments		(70)		(605)		—		—		(675)
	Currency translation adjustments		—		5		—		—		5
Accrued restructuring as of
December 31, 2017		$	—	$	—	$	—	$	—	$	—