Equity and Noncontrolling Interest

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Note 22 – Equity and Accumulated Other Comprehensive Loss

In May 2015, the Company’s Board of Directors authorized a share repurchase program for the repurchase of up to $100.0 million of Quaker Chemical Corporation common stock (the “2015 Share Repurchase Program”). The 2015 Share Repurchase Program has no expiration date. The 2015 Share Repurchase Program provides a framework of conditions under which management can repurchase shares of the Company’s common stock. These purchases may be made in the open market or in private and negotiated transactions and will be in accordance with applicable laws, rules and regulations.

In connection with the 2015 Share Repurchase Program, the Company acquired 83,879 shares of common stock for $5.9 million, during the year ended December 31, 2016. There were no share repurchases under the 2015 Share Repurchase Program during the years ended December 31, 2018 and 2017. The Company has elected not to hold treasury shares and therefore has retired the shares as they are repurchased. It is the Company’s accounting policy to record the excess paid over par value as a reduction in retained earnings for all shares repurchased.

The Company has 30,000,000 shares of common stock authorized with a par value of $1, and 13,338,026 and 13,307,976 shares issued and outstanding as of December 31,2018 and 2017, respectively. The change in shares issued and outstanding during 2018 was primarily related to 17,596 shares issued for equity-based compensation plans, 3,574 shares issued for the ESPP and 8,880 shares issued for the exercise of stock options and other employee and director-related share activity.

The Company is authorized to issue 10,000,000 shares of preferred stock with $1 par value, subject to approval by the Board of Directors. The Board of Directors may designate one or more series of preferred stock and the number of shares, rights, preferences, and limitations of each series. As of December 31,2018, no preferred stock had been issued.

The following table shows the reclassifications from and resulting balances of AOCI for the years ended December 31, 2018, 2017 and 2016:

						Unrealized Gain (Loss) in
				Defined
		Currency		Benefit		Available-for-
		Translation		Pension		Sale
		Adjustments		Plans		Securities		Total
Balance as of December 31, 2015		$	(38,544)	$	(35,251)	$	479	$	(73,316)
	Other comprehensive (loss) income before reclassifications		(13,711)		(4,229)		834		(17,106)
	Amounts reclassified from AOCI		—		3,075		(17)		3,058
	Related tax amounts		—		237		(280)		(43)
Balance as of December 31, 2016			(52,255)		(36,168)		1,016		(87,407)
	Other comprehensive income (loss) before reclassifications		20,362		(1,646)		2,299		21,015
	Amounts reclassified from AOCI		—		5,154		(2,494)		2,660
	Related tax amounts		—		(1,433)		65		(1,368)
Balance as of December 31, 2017			(31,893)		(34,093)		886		(65,100)
	Other comprehensive (loss) income before reclassifications		(17,429)		1,543		(2,622)		(18,508)
	Amounts reclassified from AOCI		—		3,085		435		3,520
	Related tax amounts		—		(1,086)		459		(627)
Balance as of December 31, 2018		$	(49,322)	$	(30,551)	$	(842)	$	(80,715)

Approximately 30% and 70% of the amounts reclassified from AOCI to the Consolidated Statements of Income for defined benefit retirement plans during the years ended December 31, 2018, 2017 and 2016were recorded in COGS and SG&A, respectively. See Note20 of Notes to Consolidated Financial Statements for further information. All reclassifications related to unrealized gain (loss) in available-for-sale securities relate to the Company’s equity interest in a captive insurance company and are recorded in equity in net income of associated companies. The amounts reported on the Consolidated Statements of Changes in Equity for non-controlling interest are related to currency translation adjustments.