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Basis of Presentation and Description of Business (Policies)
3 Months Ended
Mar. 31, 2022
Basis of Presentation and Description of Business [Abstract]  
Description of Business [Policy Text Block]
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 offers
chemical management services (which the Company refers to as “Fluidcare
TM
”) for various heavy industrial and manufacturing
applications throughout its
four
 
segments: Americas; Europe, Middle East and Africa (“EMEA”); Asia/Pacific; and
 
Global Specialty
Businesses.
Basis of Presentation [Policy Text Block]
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
 
consisting only
of normal recurring 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 three months ended March 31, 2022 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, 2021 (the “2021 Form 10-K”).
Hyper-inflationary economies [Policy Text Block]
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 months
ended March 31, 2022, the Company's Argentine subsidiaries represented
 
less than
1
% of the Company’s consolidated
 
total assets and
net sales, respectively.
 
During each of the three months ended March 31, 2022 and 2021, the Company
 
recorded $
0.2
 
million 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 (expense) income, net,
 
in the Company’s Condensed Consolidated
Statements of Income.
Segments [Policy Text Block]
The Company’s operating
 
segments, which are consistent with its reportable segments, reflect the structure of the
 
Company’s
internal organization, the method by which the Company’s
 
resources are allocated and the manner by which the chief operating
decision maker assesses the Company’s
 
performance.