Earnings Per Share

6 Months Ended

Jun. 30, 2023

The following table summarizes earnings per share calculations:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Basic earnings per common share
Net income attributable to Quaker Chemical Corporation	$	29,346	$	14,343	$	58,880	$	34,159
Less: income allocated to participating securities	(154)		(58)		(299)		(136)
Net income available to common shareholders	$	29,192	$	14,285	$	58,581	$	34,023
Basic weighted average common shares outstanding	17,892,444		17,834,329		17,879,629		17,830,218
Basic earnings per common share	$	1.63	$	0.80	$	3.28	$	1.91

Diluted earnings per common share
Net income attributable to Quaker Chemical Corporation	$	29,346	$	14,343	$	58,880	$	34,159
Less: income allocated to participating securities	(154)		(58)		(299)		(136)
Net income available to common shareholders	$	29,192	$	14,285	$	58,581	$	34,023
Basic weighted average common shares outstanding	17,892,444		17,834,329		17,879,629		17,830,218
Effect of dilutive securities	28,970		7,048		30,277		17,186
Diluted weighted average common shares outstanding	17,921,414		17,841,377		17,909,906		17,847,404
Diluted earnings per common share	$	1.63	$	0.80	$	3.27	$	1.91

Certain stock options, restricted stock units, and PSUs are not included in the diluted earnings per share calculation when the effect would have been anti-dilutive. The calculated amount of anti-diluted shares not included were 8,232 and 10,940 for the three and six months ended June 30, 2023, respectively, and 33,039 and 24,731 for the three and six months ended June 30, 2022, respectively.