Equity and Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2021

Equity and Accumulated Other Comprehensive Loss [Abstract]

Equity and Accumulated Other Comprehensive Loss [Text Block]

Note 23 – Equity and Accumulated Other Comprehensive Loss

The Company has

30,000,000

 shares of common stock authorized with a par value of $

1

, and

17,897,033

 and

17,850,616

 shares

issued and outstanding as of December 31, 2021 and 2020, respectively. The change in shares issued and outstanding during 2021

was primarily related to

29,415

 shares issued for share-based compensation plans and

17,002

 shares issued for the exercise of stock

options and other 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. 

The Board 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, 2021,

no

 preferred stock had been issued.

The Company has a share repurchase program that was approved by its Board in 2015 for the repurchase of up to $

100.0

 million

of Quaker Chemical Corporation common stock. The Company has

no

t repurchased any shares under the program for the years ended

December 31, 2021, 2020 and 2019. As of December 31, 2021, there was approximately $

86.9

 million of common stock remaining to

be purchased under this share repurchase program.

The following table shows the reclassifications from and resulting balances of AOCI for the years ended December 31, 2021,

2020 and 2019:

Defined

Unrealized

Gain (Loss) in

Currency

Benefit

Translation

Pension

Available-for-

Derivative

Adjustments

Plans

Sale Securities

Instruments

Total

Balance as of December 31, 2018

$

(49,322)

$

(30,551)

$

(842)

$

-

$

(80,715)

Other comprehensive income (loss) before

 reclassifications

4,754

(8,088)

2,951

(415)

(798)

Amounts reclassified from AOCI

-

3,169

(301)

-

2,868

Related tax amounts

-

937

(557)

95

475

Balance as of December 31, 2019

(44,568)

(34,533)

1,251

(320)

(78,170)

Other comprehensive income (loss) before

 reclassifications

41,693

(6,617)

2,848

(4,257)

33,667

Amounts reclassified from AOCI

-

24,141

(202)

-

23,939

Related tax amounts

-

(6,458)

(555)

979

(6,034)

Balance as of December 31, 2020

(2,875)

(23,467)

3,342

(3,598)

(26,598)

Other comprehensive (loss) income before

 reclassifications

(46,968)

11,948

(531)

2,890

(32,661)

Amounts reclassified from AOCI

-

1,459

(3,197)

-

(1,738)

Related tax amounts

-

(3,112)

783

(664)

(2,993)

Balance as of December 31, 2021

$

(49,843)

$

(13,172)

$

397

$

(1,372)

$

(63,990)

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 in other

comprehensive income for non-controlling interest are related to currency translation adjustments.