Basis of Presentation and Description of Business	6 Months Ended
Jun. 30, 2021
Basis of Presentation and Description of Business [Abstract]
Basis of Presentation and Description of Business [Text Block]	Note 1 – Basis of Presentation and Description of Business Basis of Presentation As used in these Notes to Condensed Consolidated Financial Statements, the terms “Quaker,” “Quaker Houghton,” the “Company,” “we,” and “our” refer to Quaker Chemical Corporation (doing business as Quaker Houghton), its subsidiaries, and associated companies, unless the context otherwise requires. As used in these Notes to Condensed Consolidated Financial Statements, the term Legacy Quaker refers to the Company prior to the closing of its combination with Houghton International, Inc. (“Houghton”) (herein referred to as the “Combination”). The condensed consolidated financial statements included herein are unaudited and have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial reporting and the United States Securities and Exchange Commission (“SEC”) regulations. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the financial statements reflect all adjustments which are necessary for a fair statement of the financial position, results of operations and cash flows for the interim periods. The results for the six months ended June 30, 2021 are not necessarily indicative of the results to be expected for the full year. These financial statements should be read in conjunction with the Company’s Annual Report filed on Form 10-K for the year ended December 31, 2020 (the “2020 Form 10-K”). Description of Business The Company was organized in 1918, incorporated as a Pennsylvania business corporation in 1930, and in August 2019 completed the Combination with Houghton to form Quaker Houghton. Quaker Houghton is the global leader in industrial process fluids. With a presence around the world, including operations in over 25 countries, the Company’s customers include thousands of the world’s most advanced and specialized steel, aluminum, automotive, aerospace, offshore, can, mining, and metalworking companies. Quaker Houghton develops, produces, and markets a broad range of formulated chemical specialty products and offe rs chemical management services (which the Company refers to as “Fluidcare”) for various heavy industrial and manufacturing applications throughout its four segments: Americas; Europe, Middle East and Africa (“EMEA”); Asia/Pacific; and Global Specialty Businesses. Hyper-inflationary economies Based on various indices or index compilations being used to monitor inflation in Argentina as well as economic instability, effective July 1, 2018, Argentina’s economy was considered hyper-inflationary under U.S. GAAP. As of, and for the three and six months ended June 30, 2021, the Company's Argentine subsidiaries represented less than 1 % of the Company’s consolidated total assets and net sales, respectively. During the three and six months ended June 30, 2021, the Company recorded $ 0.1 million and $ 0.3 million, respectively, of remeasurement losses associated with the applicable currency conversions related to Argentina. Comparatively, during the three and six months ended June 30, 2020, the Company recorded less than $ 0.1 million and $ 0.1 million, respectively, of remeasurement losses associated with the applicable currency conversions related to Argentina. These losses were recorded within foreign exchange losses, net, which is a component of other income (expense), net, in the Company’s Condensed Consolidated Statements of Operations. COVID-19 Management continues to monitor the impact that the COVID-19 pandemic is having on the Company, the overall specialty chemical industry, and the economies and markets in which the Company operates. The full extent of the COVID-19 pandemic related business and travel restrictions and changes to business and consumer behavior intended to reduce its spread are uncertain as of the date of this Quarterly Report on Form 10-Q for the period ended June 30, 2021 (the “Report”) as COVID-19 and the responses of governmental authorities continue to evolve globally. Further, management continues to evaluate how COVID-19-related circumstances, such as remote work arrangements, affect financial reporting processes, internal control over financial reporting, and disclosure controls and procedures. While the circumstances have presented and are expected to continue to present challenges, at this time, Management does not believe that COVID-19 has had a material impact on financial reporting processes, internal control over financial reporting, and disclosure controls and procedures. The Company cannot reasonably estimate the magnitude of the effects these conditions will have on the Company’s operations in the future as they are subject to significant uncertainties relating to the ultimate geographic spread of the virus, the incidence and severity of the symptoms, the duration or resurgences of the outbreak including the impact of new variants, the global availability and acceptance of vaccines as well as their efficacy, the length of the travel restrictions and business closures imposed by governments of impacted countries, and the economic response by governments of impacted countries, all of which continue to evolve. To the extent that the Company’s customers and suppliers continue to be significantly and adversely impacted by COVID-19, this could reduce the availability, or result in delays, of materials or supplies to or from the Company, which in turn could significantly interrupt the Company’s business operations. Such impacts could grow and become more significant to the Company’s operations and the Company’s liquidity or financial position. Therefore, given the speed and frequency of continuously evolving developments with respect to this pandemic, the Company cannot reasonably estimate the magnitude or the full extent to which COVID-19 may impact the Company’s results of operations, liquidity or financial position.

Note 1 – Basis of Presentation and Description of Business

Basis of Presentation

As used in these Notes to Condensed Consolidated

Financial Statements, the terms “Quaker,”

“Quaker Houghton,”

the

“Company,”

“we,” and “our” refer to Quaker Chemical Corporation (doing

business as Quaker Houghton), its subsidiaries, and

associated companies, unless the context otherwise requires.

As used in these Notes to Condensed Consolidated

Financial Statements,

the term Legacy Quaker refers to the Company prior

to the closing of its combination with Houghton International,

Inc. (“Houghton”)

(herein referred to as the “Combination”).

The condensed consolidated financial statements included herein

are unaudited and have

been prepared in accordance with generally accepted

accounting principles in the United States (“U.S. GAAP”) for

interim financial

reporting and the United States Securities and Exchange Commission

(“SEC”) regulations.

Certain information and footnote

disclosures normally included in financial statements prepared

in accordance with U.S. GAAP have been condensed or

omitted

pursuant to such rules and regulations.

In the opinion of management, the financial statements reflect all

adjustments which are

necessary for a fair statement of the financial position,

results of operations and cash flows for the interim periods.

The results for the

six months ended June 30, 2021 are not necessarily indicative

of the results to be expected for the full year.

These financial

statements should be read in conjunction with the Company’s

Annual Report filed on Form 10-K for the year

ended December 31,

2020 (the “2020 Form 10-K”).

Description of Business

The Company was organized in 1918, incorporated

as a Pennsylvania business corporation in 1930, and in August

2019

completed the Combination with Houghton to form

Quaker Houghton.

Quaker Houghton is the global leader in industrial process

fluids.

With a presence around the world,

including operations in over

countries, the Company’s customers

include thousands of

the world’s most advanced

and specialized steel, aluminum, automotive, aerospace,

offshore, can, mining, and metalworking

companies.

Quaker Houghton develops, produces, and markets a broad range

of formulated chemical specialty products and offe

chemical management services (which the Company refers

to as “Fluidcare”) for various heavy industrial and manufacturing

applications throughout its

four

segments: Americas; Europe, Middle East and Africa (“EMEA”);

Asia/Pacific; and Global Specialty

Businesses.

Hyper-inflationary economies

Based on various indices or index compilations being

used to monitor inflation in Argentina as well as economic

instability,

effective July 1, 2018, Argentina’s

economy was considered hyper-inflationary under U.S.

GAAP.

As of, and for the three and six

months ended June 30, 2021, the Company's Argentine

subsidiaries represented less than

% of the Company’s consolidated

total

assets and net sales, respectively.

During the three and six months ended June 30, 2021, the Company

recorded $

0.1

million and $

0.3

million,

respectively, of remeasurement

losses associated with the applicable currency conversions related

to Argentina.

Comparatively,

during the three and six months ended June 30, 2020, the

Company recorded less than $

0.1

million and $

0.1

million,

respectively, of

remeasurement losses associated with the applicable currency

conversions

related to Argentina.

These losses were

recorded within foreign exchange losses, net, which

is a component of other income (expense), net, in the Company’s

Condensed

Consolidated Statements of Operations.

COVID-19

Management continues to monitor the impact that the COVID-19

pandemic is having on the Company,

the overall specialty

chemical industry,

and the economies and markets in which the Company operates.

The full extent of the COVID-19 pandemic

related business and travel restrictions and changes to

business and consumer behavior intended to reduce its spread are

uncertain as of

the date of this Quarterly Report on Form 10-Q for the

period ended June 30, 2021 (the “Report”) as COVID-19

and the responses of

governmental authorities continue to evolve globally.

Further, management continues to

evaluate how COVID-19-related circumstances, such as remote

work arrangements, affect

financial reporting processes, internal control over financial

reporting, and disclosure controls and procedures.

While the

circumstances have presented and are expected to continue

to present challenges, at this time, Management does not believe that

COVID-19 has had a material impact on financial reporting

processes, internal control over financial reporting,

and disclosure

controls and procedures.

The Company cannot reasonably estimate the magnitude

of the effects these conditions will have on the Company’s

operations in

the future as they are subject to significant uncertainties

relating to the ultimate geographic spread of the virus,

the incidence and

severity of the symptoms, the duration or resurgences

of the outbreak including the impact of new variants, the global

availability and

acceptance of vaccines as well as their efficacy,

the length of the travel restrictions and business closures imposed by

governments of

impacted countries, and the economic response by governments

of impacted countries, all of which continue to evolve.

To the extent

that the Company’s customers and

suppliers continue to be significantly and adversely impacted by

COVID-19, this

could reduce the availability,

or result in delays, of materials or supplies to or from

the Company, which in

turn could significantly

interrupt the Company’s

business operations.

Such impacts could grow and become more significant to the

Company’s operations

and the Company’s liquidity

or financial position.

Therefore, given the speed and frequency of continuously

evolving developments

with respect to this pandemic, the Company cannot reasonably

estimate the magnitude or the full extent to which COVID-19

may

impact the Company’s results

of operations, liquidity or financial position.