Earnings Per Share

9 Months Ended

Sep. 30, 2018

Note 11 – Earnings Per Share

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

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2018		2017		2018		2017
Basic earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	19,690	$	11,142	$	51,668	$	30,040
	Less: income allocated to participating securities		(77)		(76)		(226)		(222)
	Net income available to common shareholders	$	19,613	$	11,066	$	51,442	$	29,818
	Basic weighted average common shares outstanding		13,278,259		13,217,165		13,263,417		13,196,255
Basic earnings per common share		$	1.48	$	0.84	$	3.88	$	2.26

Diluted earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	19,690	$	11,142	$	51,668	$	30,040
	Less: income allocated to participating securities		(77)		(76)		(226)		(222)
	Net income available to common shareholders	$	19,613	$	11,066	$	51,442	$	29,818
	Basic weighted average common shares outstanding		13,278,259		13,217,165		13,263,417		13,196,255
	Effect of dilutive securities		37,282		34,528		33,928		41,818
	Diluted weighted average common shares outstanding		13,315,541		13,251,693		13,297,345		13,238,073
Diluted earnings per common share		$	1.47	$	0.83	$	3.87	$	2.25

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 718 and 3,480 for the three and nine months ended September 30, 2018, respectively, and 4,300 and 4,819 for the three and nine months ended September 30, 2017, respectively.