XML 51 R37.htm IDEA: XBRL DOCUMENT v3.20.4
Business Combination (Tables)
12 Months Ended
Dec. 31, 2020
Houghton [Member]  
Business Acquisition [Line Items]  
Schedule of fair value of consideration transferred in the Combination [Table Text Block]
Cash transferred to Houghton shareholders (a)
$
170,829
Cash paid to extinguish Houghton debt obligations
702,556
Fair value of common stock issued as consideration (b)
789,080
Total fair value
 
of consideration transferred
$
1,662,465
(a)
 
A portion is held in escrow by a third party,
 
subject to indemnification rights that lapse upon the achievement
 
of certain
milestones.
(b)
 
Amount was determined based on approximately
4.3
 
million shares, comprising
24.5
% of the common stock of the Company
immediately after the closing, and the closing price per
 
share of Quaker Chemical Corporation common stock
 
of $
182.27
 
on
August 1, 2019.
Schedule of unaudited Pro Forma [Text Block]
For the years ending
Unaudited Pro Forma
 
 
December 31,
(as if the Combination occurred on
 
January 1, 2018)
2019
2018
Net sales
$
1,562,427
$
1,654,588
Net income attributable to Quaker Chemical Corporation
94,537
35,337
Schedule of estimated fair values of net assets acquired [Table Text Block]
Measurement
August 1,
Period
August 1, 2019
2019 (1)
Adjustments
(as adjusted)
Cash and cash equivalents
$
75,821
$
$
75,821
Accounts receivable
178,922
178,922
Inventories
95,193
95,193
Prepaid expenses and other assets
10,652
666
11,318
Property, plant and
 
equipment
115,529
(66)
115,463
Right of use lease assets
10,673
10,673
Investments in associated companies
66,447
66,447
Other non-current assets
4,710
1,553
6,263
Intangible assets
1,028,400
1,028,400
Goodwill
494,915
4,625
499,540
Total assets purchased
2,081,262
6,778
2,088,040
Short-term borrowings, not refinanced at closing
9,297
9,297
Accounts
 
payable, accrued expenses and other accrued liabilities
150,078
1,127
151,205
Deferred tax liabilities
205,082
4,098
209,180
Long-term lease liabilities
6,607
6,607
Other non-current liabilities
47,733
1,553
49,286
Total liabilities assumed
418,797
6,778
425,575
Total consideration
 
paid for Houghton
1,662,465
1,662,465
Less: cash acquired
75,821
75,821
Less: fair value of common stock issued as consideration
789,080
789,080
Net cash paid for Houghton
$
797,564
$
$
797,564
Norman Hay [Member]  
Business Acquisition [Line Items]  
Schedule of estimated fair values of net assets acquired [Table Text Block]
Measurement
October 1,
Period
October 1, 2019
2019 (1)
Adjustments
(as adjusted)
Cash and cash equivalents
$
18,981
$
$
18,981
Accounts receivable
15,471
15,471
Inventories
8,213
(49)
8,164
Prepaid expenses and other assets
4,203
138
4,341
Property, plant and
 
equipment
14,981
14,981
Right of use lease assets
10,608
10,608
Intangible assets
51,088
51,088
Goodwill
29,384
(82)
29,302
Total assets purchased
152,929
7
152,936
Long-term debt included current portions
485
485
Accounts payable, accrued expenses and other accrued
 
liabilities
13,488
(732)
12,756
Deferred tax liabilities
12,746
905
13,651
Long-term lease liabilities
8,594
8,594
Total liabilities assumed
35,313
173
35,486
Total consideration
 
paid for Norman Hay
117,616
(166)
117,450
Less: estimated purchase price settlement (2)
3,287
(3,287)
Less: cash acquired
18,981
18,981
Net cash paid for Norman Hay
$
95,348
$
3,121
$
98,469
Coral Chemical Company [Member]  
Business Acquisition [Line Items]  
Schedule of estimated fair values of net assets acquired [Table Text Block]
December 22,
2020
Cash and cash equivalents
$
958
Accounts receivable
8,473
Inventories
4,527
Prepaid expenses and other assets
181
Property, plant and
 
equipment
10,467
Intangible assets
30,300
Goodwill
2,814
Total assets purchased
57,720
Long-term debt included current portions
183
Accounts payable, accrued expenses and other accrued liabilities
3,482
Total liabilities assumed
3,665
Total consideration
 
paid for Coral
54,055
Less: cash acquired
958
Net cash paid for Coral
$
53,097