Earnings Per Share

6 Months Ended

Jun. 30, 2018

Note 11 – Earnings Per Share

The following table summarizes earnings per share calculations for the three and six months ended June 30, 2018 and 2017:

		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2018		2017		2018		2017
Basic earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	19,246	$	11,906	$	31,978	$	18,898
	Less: income allocated to participating securities		(83)		(82)		(147)		(145)
	Net income available to common shareholders	$	19,163	$	11,824	$	31,831	$	18,753
	Basic weighted average common shares outstanding		13,267,504		13,195,053		13,256,327		13,185,627
Basic earnings per common share		$	1.44	$	0.90	$	2.40	$	1.42

Diluted earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	19,246	$	11,906	$	31,978	$	18,898
	Less: income allocated to participating securities		(83)		(82)		(147)		(145)
	Net income available to common shareholders	$	19,163	$	11,824	$	31,831	$	18,753
	Basic weighted average common shares outstanding		13,267,504		13,195,053		13,256,327		13,185,627
	Effect of dilutive securities		29,884		45,226		31,619		45,310
	Diluted weighted average common shares outstanding		13,297,388		13,240,279		13,287,946		13,230,937
Diluted earnings per common share		$	1.44	$	0.89	$	2.40	$	1.42

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 6,189 and 4,546 for the three and six months ended June 30, 2018, respectively, and 5,278 and 4,894 for the three and six months ended June 30, 2017, respectively.