Earnings Per Share

3 Months Ended

Mar. 31, 2018

Note 11 – Earnings Per Share

The following table summarizes earnings per share calculations for the three months ended March 31, 2018 and 2017:

		Three Months Ended
		March 31,
		2018		2017
Basic earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	12,732	$	6,992
	Less: income allocated to participating securities		(62)		(55)
	Net income available to common shareholders	$	12,670	$	6,937
	Basic weighted average common shares outstanding		13,245,026		13,176,096
Basic earnings per common share		$	0.96	$	0.53

Diluted earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	12,732	$	6,992
	Less: income allocated to participating securities		(62)		(54)
	Net income available to common shareholders	$	12,670	$	6,938
	Basic weighted average common shares outstanding		13,245,026		13,176,096
	Effect of dilutive securities		33,580		44,965
	Diluted weighted average common shares outstanding		13,278,606		13,221,061
Diluted earnings per common share		$	0.95	$	0.52

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 2,862 and 3,507 for the three months ended March 31, 2018 and 2017, respectively.