Earnings Per Share

9 Months Ended

Sep. 30, 2023

The following table summarizes earnings per share calculations:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Basic earnings per common share
Net income attributable to Quaker Chemical Corporation	$	33,670	$	25,867	$	92,550	$	60,026
Less: income allocated to participating securities	(164)		(115)		(464)		(250)
Net income available to common shareholders	$	33,506	$	25,752	$	92,086	$	59,776
Basic weighted average common shares outstanding	17,908,754		17,847,305		17,889,444		17,835,976
Basic earnings per common share	$	1.87	$	1.44	$	5.15	$	3.35

Diluted earnings per common share
Net income attributable to Quaker Chemical Corporation	$	33,670	$	25,867	$	92,550	$	60,026
Less: income allocated to participating securities	(164)		(115)		(464)		(250)
Net income available to common shareholders	$	33,506	$	25,752	$	92,086	$	59,776
Basic weighted average common shares outstanding	17,908,754		17,847,305		17,889,444		17,835,976
Effect of dilutive securities	12,520		12,566		16,709		15,465
Diluted weighted average common shares outstanding	17,921,274		17,859,871		17,906,153		17,851,441
Diluted earnings per common share	$	1.87	$	1.44	$	5.14	$	3.35

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 11,598 and 10,453 for the three and nine months ended September 30, 2023, respectively, and 25,896 and 24,618 for the three and nine months ended September 30, 2022, respectively.