Earnings Per Share

3 Months Ended

Mar. 31, 2019

Note 11 – Earnings Per Share

The following table summarizes earnings per share calculations for the three months ended March 31, 2019 and 2018:

		Three Months Ended
		March 31,
		2019		2018
Basic earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	13,844	$	12,732
	Less: income allocated to participating securities		(46)		(62)
	Net income available to common shareholders	$	13,798	$	12,670
	Basic weighted average common shares outstanding		13,291,589		13,245,026
Basic earnings per common share		$	1.04	$	0.96

Diluted earnings per common share
	Net income attributable to Quaker Chemical Corporation	$	13,844	$	12,732
	Less: income allocated to participating securities		(46)		(62)
	Net income available to common shareholders	$	13,798	$	12,670
	Basic weighted average common shares outstanding		13,291,589		13,245,026
	Effect of dilutive securities		46,901		33,580
	Diluted weighted average common shares outstanding		13,338,490		13,278,606
Diluted earnings per common share		$	1.03	$	0.95

Certain stock options and restricted stock units are not included in the diluted earnings per share calculation when the effect would have been anti-dilutive. There were no anti-dilutive shares for the three months ended March 31, 2019. Comparatively, the calculated amount of anti-dilutive shares not included in the diluted earnings per share calculation were 2,862 for the three months ended March 31, 2018