Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Jan. 31, 2014 | Jun. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Document period end date | 31-Dec-13 | ' | ' |
Amendment flag | 'false | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Period Focus | 'FY | ' | ' |
Current fiscal year end date | '--12-31 | ' | ' |
Entity central index key | '0000081362 | ' | ' |
Entity current reporting status | 'Yes | ' | ' |
Entity filer category | 'Large Accelerated Filer | ' | ' |
Entity registrant name | 'Quaker Chemical Corporation | ' | ' |
Entity voluntary filers | 'No | ' | ' |
Entity well known seasoned issuer | 'No | ' | ' |
Entity common stock shares outstanding | ' | 13,199,043 | ' |
Entity public float | ' | ' | $805,019,401 |
Consolidated_Statement_of_Inco
Consolidated Statement of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement [Abstract] | ' | ' | ' |
Net sales | $729,395 | $708,226 | $683,231 |
Cost of goods sold | 468,320 | 469,515 | 460,581 |
Selling, general and administrative expenses | 189,832 | 175,487 | 164,738 |
Costs and Expenses, Total | 658,152 | 645,002 | 625,319 |
Operating income | 71,243 | 63,224 | 57,912 |
Other income, net | 3,519 | 3,415 | 5,050 |
Interest expense | -2,922 | -4,283 | -4,666 |
Interest income | 986 | 592 | 1,081 |
Income before taxes and equity in net income of associated companies | 72,826 | 62,948 | 59,377 |
Taxes on income before equity in net income of associated companies | 20,489 | 15,575 | 14,256 |
Income before equity in net income of associated companies | 52,337 | 47,373 | 45,121 |
Equity in net income of associated companies | 6,514 | 2,867 | 3,102 |
Net income | 58,851 | 50,240 | 48,223 |
Net income attributable to noncontrolling interest | 2,512 | 2,835 | 2,331 |
Net income attributable to Quaker Chemical Corporation | $56,339 | $47,405 | $45,892 |
Per share data: | ' | ' | ' |
Net income attributable to Quaker Chemical Corporation Common Shareholders - basic | $4.28 | $3.64 | $3.71 |
Net income attributable to Quaker Chemical Corporation Common Shareholders - diluted | $4.27 | $3.63 | $3.66 |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $58,851 | $50,240 | $48,223 |
Currency translation adjustments | -3,490 | -1,510 | -9,734 |
Defined Benefit Plans [Abstract] | ' | ' | ' |
Net gain (loss) arising during the period, other | 6,614 | -14,582 | -9,119 |
Amortization of actuarial loss | 2,748 | 1,852 | 1,230 |
Amortization of prior service cost | 119 | 76 | 77 |
Current period changes in fair value of derivatives | 0 | 272 | 395 |
Unrealized (loss) gain on available-for-sale securities | -142 | 867 | -138 |
Other Comprehensive Income (Loss) | 5,849 | -13,025 | -17,289 |
Comprehensive Income | 64,700 | 37,215 | 30,934 |
Less: comprehensive income attributable to noncontrolling interest | -1,206 | -2,698 | -1,256 |
Comprehensive income attributable to Quaker Chemical Corporation | $63,494 | $34,517 | $29,678 |
Consolidated_Balance_Sheet
Consolidated Balance Sheet (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $68,492 | $32,547 |
Accounts receivable, net | 165,629 | 154,197 |
Inventories | 71,557 | 72,471 |
Current deferred tax assets | 7,826 | 6,401 |
Prepaid expenses and other current assets | 15,343 | 12,194 |
Total current assets | 328,847 | 277,810 |
Property, plant and equipment, net | 85,488 | 85,112 |
Goodwill | 58,151 | 59,169 |
Other intangible assets, net | 31,272 | 32,809 |
Investments in associated companies | 19,397 | 16,603 |
Non-current deferred tax assets | 24,724 | 30,673 |
Other assets | 36,267 | 34,458 |
Total assets | 584,146 | 536,634 |
Current liabilities | ' | ' |
Short-term borrowings and current portion of long-term debt | 1,395 | 1,468 |
Accounts payable | 72,281 | 67,586 |
Dividends payable | 3,299 | 3,208 |
Accrued compensation | 20,801 | 16,842 |
Accrued Pension and Postretirement Benefits, Current | 1,438 | 2,188 |
Current deferred tax liabilities | 1,057 | 253 |
Other current liabilities | 30,585 | 16,247 |
Total current liabilities | 130,856 | 107,792 |
Long-term debt | 17,321 | 30,000 |
Non-current deferred tax liabilities | 6,394 | 6,383 |
Accrued Pension and Postretirement Benefits, Non-current | 37,006 | 49,916 |
Other non-current liabilities | 47,538 | 52,867 |
Total liabilities | 239,115 | 246,958 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] | ' | ' |
Common stock $1 par value; authorized 30,000,000 shares; issued and outstanding 2013 - 13,196,140 shares; 2012 - 13,094,901 shares | 13,196 | 13,095 |
Capital in excess of par value | 99,038 | 94,470 |
Retained earnings | 258,620 | 215,390 |
Accumulated Other Comprehensive Loss | -34,700 | -41,855 |
Total Quaker shareholders equity | 336,154 | 281,100 |
Noncontrolling interest | 8,877 | 8,576 |
Total equity | 345,031 | 289,676 |
Total liabilities and equity | $584,146 | $536,634 |
Consolidated_Balance_Sheet_Par
Consolidated Balance Sheet (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Statement Of Financial Position [Abstract] | ' | ' |
Common Stock Par Value | $1 | $1 |
Common Stock Shares Authorized | 30,000,000 | 30,000,000 |
Common Stock Shares, Issued | 13,196,140 | 13,094,901 |
Consolidated_Statement_of_Cash
Consolidated Statement of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities | ' | ' | ' |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $58,851 | $50,240 | $48,223 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation | 12,339 | 12,252 | 11,455 |
Amortization | 3,445 | 3,106 | 2,338 |
Equity in undistributed earnings of associated companies, net of dividends | -4,162 | -2,350 | -2,365 |
Deferred income taxes | -30 | 2,354 | 2,431 |
Uncertain tax positions (non-deferred portion) | -1,826 | -1,407 | 3,673 |
Acquisition-related Fair Value Adjustments | 200 | -1,909 | -2,624 |
Deferred compensation and other, net | -259 | -156 | 566 |
Stock-based compensation | 4,161 | 3,807 | 3,513 |
Loss (Gain) on disposal of property, plant and equipment | 200 | -108 | -86 |
Insurance settlement realized | -988 | -1,391 | -1,840 |
Pension and other postretirement benefits | 862 | -1,427 | -4,239 |
(Decrease) increase in cash from changes in current assets and current liabilities, net of acquisitions: | ' | ' | ' |
Accounts receivable | -11,837 | 779 | -31,558 |
Inventories | 406 | 3,228 | -9,281 |
Prepaid expenses and other current assets | -743 | 504 | -2,505 |
Accounts payable and accrued liabilities | 11,301 | -2,562 | 4,442 |
Estimated taxes on income | 1,881 | -2,067 | -2,477 |
Net cash provided by operating activities | 73,801 | 62,893 | 19,666 |
Cash flows from investing activities | ' | ' | ' |
Capital Expenditures | -11,439 | -12,735 | -12,117 |
Payments related to acquisitions, net of cash acquired | -2,478 | -5,635 | -25,477 |
Proceeds from disposition of assets | 513 | 245 | 393 |
Insurance settlement received and interest earned | 52 | 69 | 80 |
Change in restricted cash, net | 936 | 1,322 | 1,760 |
Net cash used in investing activities | -12,416 | -16,734 | -35,361 |
Cash flows from financing activities | ' | ' | ' |
Net decrease in short-term borrowings | 0 | -315 | -254 |
Proceeds from long-term debt | 0 | 0 | 0 |
Repayment of long-term debt | -12,791 | -17,632 | -27,364 |
Dividends paid | -13,018 | -12,616 | -11,586 |
Stock options exercised, other | -307 | -924 | 1,105 |
Excess tax benefit from stock option exercises | 815 | 2,045 | 109 |
Proceeds from Issuance of Common Stock | 0 | 0 | 48,143 |
Dividends Paid to Noncontrolling Shareholders | -905 | -1,099 | -1,000 |
Net cash (used in) provided by financing activities | -26,206 | -30,541 | 9,153 |
Effect of exchange rate changes on cash | 766 | 20 | -2,315 |
Net increase (decrease) in cash and cash equivalents | 35,945 | 15,638 | -8,857 |
Cash and cash equivalents at beginning of period | 32,547 | 16,909 | 25,766 |
Cash and cash equivalents at end of period | 68,492 | 32,547 | 16,909 |
Supplemental Cash Flow Information [Abstract] | ' | ' | ' |
Income Taxes Paid | 17,744 | 13,190 | 9,110 |
Interest Paid | 1,776 | 2,809 | 3,298 |
Other Noncash Investing And Financing Items [Abstract] | ' | ' | ' |
Accrued Purchases of Property, Plant and Equipment | $1,287 | $0 | $0 |
Consolidated_Statement_of_Chan
Consolidated Statement of Changes in Equity (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest [Member] |
In Thousands | ||||||
Balance at at Dec. 31, 2010 | $190,537 | $11,492 | $38,275 | $146,802 | ($12,753) | $6,721 |
Net income | 48,223 | 0 | 0 | 45,892 | 0 | 2,331 |
Other Comprehensive Income (Loss), Net of Tax | -17,289 | 0 | 0 | 0 | -16,214 | -1,075 |
Dividends Common Stock | -11,984 | 0 | 0 | -11,984 | 0 | 0 |
Dividends paid to noncontrolling interest | -1,000 | 0 | 0 | 0 | 0 | -1,000 |
Stock offering, net of related expenses | 48,143 | 1,265 | 46,878 | 0 | 0 | 0 |
Shares issued upon exercise of stock options and other | 858 | 47 | 811 | 0 | 0 | 0 |
Shares issued for empoyee stock purchase plan | 247 | 8 | 239 | 0 | 0 | 0 |
Equity-based compensation plans | 3,513 | 100 | 3,413 | 0 | 0 | 0 |
Excess tax benefit from stock option exercises | 109 | 0 | 109 | 0 | 0 | 0 |
Balance at at Dec. 31, 2011 | 261,357 | 12,912 | 89,725 | 180,710 | -28,967 | 6,977 |
Net income | 50,240 | 0 | 0 | 47,405 | 0 | 2,835 |
Other Comprehensive Income (Loss), Net of Tax | -13,025 | 0 | 0 | 0 | -12,888 | -137 |
Dividends Common Stock | -12,725 | 0 | 0 | -12,725 | 0 | 0 |
Dividends paid to noncontrolling interest | -1,099 | 0 | 0 | 0 | 0 | -1,099 |
Stock offering, net of related expenses | 0 | 0 | 0 | 0 | 0 | 0 |
Shares issued upon exercise of stock options and other | -1,194 | 102 | -1,296 | 0 | 0 | 0 |
Shares issued for empoyee stock purchase plan | 270 | 7 | 263 | 0 | 0 | 0 |
Equity-based compensation plans | 3,807 | 74 | 3,733 | 0 | 0 | 0 |
Excess tax benefit from stock option exercises | 2,045 | 0 | 2,045 | 0 | 0 | 0 |
Balance at at Dec. 31, 2012 | 289,676 | 13,095 | 94,470 | 215,390 | -41,855 | 8,576 |
Net income | 58,851 | 0 | 0 | 56,339 | 0 | 2,512 |
Other Comprehensive Income (Loss), Net of Tax | 5,849 | 0 | 0 | 0 | 7,155 | -1,306 |
Dividends Common Stock | -13,109 | 0 | 0 | -13,109 | 0 | 0 |
Dividends paid to noncontrolling interest | -905 | 0 | 0 | 0 | 0 | -905 |
Stock offering, net of related expenses | 0 | 0 | 0 | 0 | 0 | 0 |
Shares issued upon exercise of stock options and other | -644 | 24 | -668 | 0 | 0 | 0 |
Shares issued for empoyee stock purchase plan | 337 | 6 | 331 | 0 | 0 | 0 |
Equity-based compensation plans | 4,161 | 71 | 4,090 | 0 | 0 | 0 |
Excess tax benefit from stock option exercises | 815 | 0 | 815 | 0 | 0 | 0 |
Balance at at Dec. 31, 2013 | $345,031 | $13,196 | $99,038 | $258,620 | ($34,700) | $8,877 |
Consolidated_Statement_of_Chan1
Consolidated Statement of Changes in Equity (Parentheticals) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Consolidated Statement Of Changes In Equity Parentheticals [Abstract] | ' | ' | ' |
Dividends declared | $1.00 | $0.98 | $0.96 |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended | ||
Dec. 31, 2013 | |||
Significant Accounting Policies [Abstract] | ' | ||
Significant Accounting Policies [Text Block] | ' | ||
Note 1 – Significant Accounting Policies | |||
Principles of consolidation: All majority-owned subsidiaries are included in the Company's consolidated financial statements, with appropriate elimination of intercompany balances and transactions. Investments in associated companies (less than majority-owned and in which the Company has significant influence) are accounted for under the equity method. The Company's share of net income or losses in these investments in associated companies is included in the Consolidated Statement of Income. The Company periodically reviews these investments for impairments and, if necessary, would adjust these investments to their fair value when a decline in market value or other impairment indicators are deemed to be other than temporary. | |||
The Financial Accounting Standards Board's (“FASB's”) guidance regarding the consolidation of certain Variable Interest Entities (“VIEs”) generally requires that assets, liabilities and results of the activities of a VIE be consolidated into the financial statements of the enterprise that is considered the primary beneficiary. The consolidated financial statements include the accounts of the Company and all of its subsidiaries in which a controlling interest is maintained and would include any VIEs if the Company was the primary beneficiary pursuant to the provisions of the applicable guidance. | |||
Translation of foreign currency: Assets and liabilities of non-U.S. subsidiaries and associated companies are translated into U.S. Dollars at the respective rates of exchange prevailing at the end of the year. Income and expense accounts are translated at average exchange rates prevailing during the year. Translation adjustments resulting from this process are recorded directly in equity as accumulated other comprehensive income (loss) and will be included as income or expense only upon sale or liquidation of the underlying investment. All non-U.S. subsidiaries use their local currency as their functional currency. | |||
Cash and cash equivalents: The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. | |||
Inventories: Inventories are valued at the lower of cost or market value, and are valued using the first-in, first-out (“FIFO”) method. See also Note 9 of Notes to Consolidated Financial Statements. | |||
Long-lived assets: Property, plant and equipment are stated at cost. Depreciation is computed using the straight-line method on an individual asset basis over the following estimated useful lives: buildings and improvements, 10 to 45 years; and machinery and equipment, 1 to 15 years. The carrying value of long-lived assets is periodically evaluated whenever changes in circumstances or current events indicate the carrying amount of such assets may not be recoverable. An estimate of undiscounted cash flows produced by the asset, or the appropriate group of assets, is compared with the carrying value to determine whether an impairment exists. If necessary, the Company recognizes an impairment loss for the difference between the carrying amount of the assets and their estimated fair value. Fair value is based on current and anticipated future undiscounted cash flows. Upon sale or other dispositions of long-lived assets, the applicable amounts of asset cost and accumulated depreciation are removed from the accounts and the net amount, less proceeds from disposals, is recorded in income. Expenditures for renewals or improvements that increase the estimated useful life or capacity of the assets are capitalized, whereas expenditures for repairs and maintenance are expensed when incurred. | |||
Capitalized software: The Company capitalizes certain costs incurred in connection with developing or obtaining software for internal use. These costs are amortized over a period of three to five years once the assets are ready for their intended use. In connection with the implementations and upgrades to the Company's global transaction, consolidation and other related systems, approximately $1,198 and $2,395 of net costs were capitalized in property, plant and equipment on the Company's December 31, 2013 and December 31, 2012 Consolidated Balance Sheets, respectively. | |||
Goodwill and other intangible assets: The Company records goodwill, definite-lived intangible assets and indefinite-lived intangible assets at fair value at the date of acquisition. Goodwill and indefinite-lived intangible assets are not amortized, but tested for impairment at least annually. These tests will be performed more frequently if triggering events indicate potential impairment. Definite-lived intangible assets are amortized over their estimated useful lives, generally for periods ranging from 5 to 20 years. The Company continually evaluates the reasonableness of the useful lives of these assets, consistent with the discussion of long-lived assets, above. See Note 11 of Notes to Consolidated Financial Statements. | |||
Revenue recognition: The Company recognizes revenue in accordance with the terms of the underlying agreements, when title and risk of loss have been transferred, when collectability is reasonably assured, and when pricing is fixed or determinable. This generally occurs when products are shipped to customers or, for consignment-type arrangements, upon usage by the customer and when services are performed. License fees and royalties are included in other income when recognized in accordance with their agreed-upon terms, when performance obligations are satisfied, when the amount is fixed or determinable, and when collectability is reasonably assured. As part of the Company's chemical management services, certain third-party product sales to customers are managed by the Company. Where the Company acts as a principal, revenues are recognized on a gross reporting basis at the selling price negotiated with its customers. Where the Company acts as an agent, such revenue is recorded using net reporting as service revenue at the amount of the administrative fee earned by the Company for ordering the goods. Third-party products transferred under arrangements resulting in net reporting totaled $41,553, $39,299 and $50,893 for 2013, 2012 and 2011, respectively. | |||
Accounts receivable and allowance for doubtful accounts: Trade accounts receivable are recorded at the invoiced amount and generally do not bear interest. The allowance for doubtful accounts is the Company's best estimate of the amount of probable credit losses with its existing accounts receivable. Reserves for customers filing for bankruptcy protection are generally established at 75-100% of the amount owed at the filing date, dependent on the Company's evaluation of likely proceeds from the bankruptcy process. Large and/or financially distressed customers are generally reserved for on a specific review basis while a general reserve is established for other customers based on historical experience. The Company performs a formal review of its allowance for doubtful accounts quarterly. Account balances are charged off against the allowance when the Company feels it is probable the receivable will not be recovered. The Company does not have any off-balance-sheet credit exposure related to its customers. During 2013, the Company's five largest customers accounted for approximately 18% of its consolidated net sales with the largest customer (Arcelor-Mittal Group) accounting for approximately 9% of the Company's consolidated net sales. | |||
During 2012, the Company recorded charges of $1,254 to its allowance for doubtful accounts and selling, general and administrative expenses (“SG&A”) due to the bankruptcies of two U.S. customers. See Note 8 of Notes to Consolidated Financial Statements. | |||
Research and development costs: Research and development costs are expensed as incurred and are included in SG&A. Research and development expenses were $21,578, $19,993 and $18,812 in 2013, 2012 and 2011, respectively. | |||
Concentration of credit risk: Financial instruments, which potentially subject the Company to a concentration of credit risk, principally consist of cash equivalents, short-term investments and trade receivables. The Company invests temporary and excess funds in money market securities and financial instruments having maturities typically within 90 days. The Company has not experienced losses from the aforementioned investments. | |||
Environmental liabilities and expenditures: Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. If there is a range of estimated liability and no amount in that range is considered more probable than another, then the Company records the lowest amount in the range in accordance with generally accepted accounting principles. Accrued liabilities are exclusive of claims against third parties and are not discounted. Environmental costs and remediation costs are capitalized if the costs extend the life, increase the capacity or improve safety or efficiency of the property from the date acquired or constructed, and/or mitigate or prevent contamination in the future. | |||
Asset retirement obligations: The Company follows the FASB's guidance regarding asset retirement obligations, which addresses the accounting and reporting for obligations associated with the retirement of tangible long-lived assets and the associated retirement costs. Also, the Company follows the FASB's guidance for conditional asset retirement obligations (“CARO”), which relates to legal obligations to perform an asset retirement activity in which the timing and (or) method of settlement are conditional on a future event that may or may not be within the control of the entity. In accordance with this guidance, the Company records a liability when there is enough information regarding the timing of the CARO to perform a probability-weighted discounted cash flow analysis. At December 31, 2013 and December 31, 2012, the Company had limited exposure to such obligations and had immaterial liabilities recorded for such on its Consolidated Balance Sheets. | |||
Pension and other postretirement benefits: The Company maintains various noncontributory retirement plans, the largest of which is in the U.S., covering substantially all of its employees in the U.S. and certain other countries. The plans of the Company's subsidiaries in The Netherlands, the United Kingdom and Mexico are subject to the provisions of FASB's guidance regarding employers' accounting for defined benefit pension plans. The plans of the remaining non-U.S. subsidiaries are, for the most part, either fully insured or integrated with the local governments' plans and are not subject to the provisions of the guidance. The guidance requires that employers recognize on a prospective basis the funded status of their defined benefit pension and other postretirement plans on their consolidated balance sheet and, also, recognize as a component of other comprehensive income, net of tax, the gains or losses and prior service costs or credits that arise during the period but are not recognized as components of net periodic benefit cost. The Company's U.S. pension plan year ends on November 30 and the measurement date is December 31. The measurement date for the Company's other postretirement benefits plan is December 31. | |||
The Company's pension investment policy is designed to ensure that pension assets are invested in a manner consistent with meeting the future benefit obligations of the pension plans and maintaining compliance with various laws and regulations including the Employee Retirement Income Security Act of 1974 (“ERISA”). The Company establishes strategic asset allocation percentage targets and appropriate benchmarks for significant asset classes with the aim of achieving a prudent balance between return and risk. The Company's investment horizon is generally long term, and, accordingly, the target asset allocations encompass a long-term perspective of capital markets, expected risk and return and perceived future economic conditions while also considering the profile of plan liabilities. To the extent feasible, the short-term investment portfolio is managed to immunize the short-term obligations, the intermediate portfolio duration is immunized to reduce the risk of volatility in intermediate plan distributions, and the total return portfolio is expected to maximize the long-term real growth of plan assets. The critical investment principles of diversification, assessment of risk and targeting the optimal expected returns for given levels of risk are applied. The Company's investment guidelines prohibit use of securities such as letter stock and other unregistered securities, commodities or commodity contracts, short sales, margin transactions, private placements (unless specifically addressed by addendum), or any derivatives, options or futures for the purpose of portfolio leveraging. | |||
The target asset allocation is reviewed periodically and is determined based on a long-term projection of capital market outcomes, inflation rates, fixed income yields, returns, volatilities and correlation relationships. The interaction between plan assets and benefit obligations is periodically studied to assist in establishing such strategic asset allocation targets. Asset performance is monitored with an overall expectation that plan assets will meet or exceed benchmark performance over rolling five-year periods. The Company's pension committee, as authorized by the Company's Board of Directors, has discretion to manage the assets within established asset allocation ranges approved by senior management of the Company. As of December 31, 2013, the plan's investments were in compliance with all approved ranges of asset allocations. See Note 16 of Notes to Consolidated Financial Statements. | |||
Comprehensive income (loss): The Company presents other comprehensive income (loss) in its Statement of Comprehensive Income. During 2013, the Company adopted the FASB's guidance regarding the disclosure of reclassifications from Accumulated Other Comprehensive Income (Loss) (“AOCI”). The guidance requires the disclosure of significant amounts reclassified from each component of AOCI, the related tax amounts and the income statement line items affected by the reclassifications, either parenthetically on the Consolidated Statement of Comprehensive Income or in the Notes to the Consolidated Financial Statements. The Company elected to present the information in the Notes to the Consolidated Financial Statements, and the adoption of this guidance did not have a material impact on the Company's results or financial condition. See Note 18 of Notes to Consolidated Financial Statements. | |||
Income taxes and uncertain tax positions: The provision for income taxes is determined using the asset and liability approach of accounting for income taxes. Under this approach, deferred taxes represent the future tax consequences expected to occur when the reported amounts of assets and liabilities are recovered or paid. The provision for income taxes represents income taxes paid or payable for the current year and the change in deferred taxes during the year. Deferred taxes result from differences between the financial and tax bases of the Company's assets and liabilities and are adjusted for changes in tax rates and tax laws when changes are enacted. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. The FASB's guidance regarding accounting for uncertainty in income taxes prescribes the recognition threshold and measurement attributes for financial statement recognition and measurement of tax positions taken or expected to be taken on a tax return. The guidance further requires the determination of whether the benefits of tax positions will be more likely than not sustained upon audit based upon the technical merits of the tax position. For tax positions that are determined to be more likely than not sustained upon audit, a company recognizes the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement in the financial statements. For tax positions that are not determined to be more likely than not sustained upon audit, a company does not recognize any portion of the benefit in the financial statements. Additionally, the guidance provides for derecognition, classification, penalties and interest, accounting in interim periods, disclosure and transition. The guidance also requires that the amount of interest expense and income to be recognized related to uncertain tax positions be computed by applying the applicable statutory rate of interest to the difference between the tax position recognized, including timing differences, and the amount previously taken or expected to be taken in a tax return. The Company's continuing practice is to recognize interest and/or penalties related to income tax matters in income tax expense. During 2013, the Company adopted guidance that requires an entity to net its liability for unrecognized tax benefits against deferred tax assets related to net operating losses or other tax credit carryforwards that would apply if the uncertain tax position were settled for the presumed amount at the balance sheet date, which had an immaterial impact on the Company's current year results and financial condition. See Note 6 of Notes to Consolidated Financial Statements. | |||
Derivatives: The Company is exposed to the impact of changes in interest rates, foreign currency fluctuations, changes in commodity prices and credit risk. The Company is currently not using derivative instruments to mitigate the risks associated with foreign currency fluctuations, changes in commodity prices or credit risk, but has used derivative financial instruments primarily for purposes of hedging exposures to fluctuations in interest rates in the past. The Company recognized all derivatives on its balance sheet at fair value. For derivative instruments designated as cash flow hedges, the effective portion of any hedge would be reported in Accumulated Other Comprehensive Income (Loss) until it was cleared to earnings during the same period in which the hedged item affected earnings. The Company currently uses no derivative instruments designated as fair value hedges and has not entered into derivative contracts for trading or speculative purposes. See Note 21 of Notes to Consolidated Financial Statements. | |||
Fair value measurements: The Company utilizes the FASB's guidance regarding fair value measurements, which establishes a common definition for fair value to be applied to guidance requiring use of fair value, establishes a framework for measuring fair value and expands disclosure about such fair value measurements. Specifically, the guidance utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: | |||
• | Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. | ||
• | Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. | ||
• | Level 3: Unobservable inputs that reflect the reporting entity's own assumptions. | ||
Stock-based compensation: The Company applies the FASB's guidance regarding share-based payments, which requires the recognition of the fair value of stock-based compensation as a component of expense. The Company has a long-term incentive program (“LTIP”) for key employees which provides for the granting of options to purchase stock at prices not less than its market value on the date of the grant. Most options become exercisable between one and three years after the date of the grant for a period of time determined by the Company, but not to exceed seven years from the date of grant. Common stock awards and Restricted Stock Units (“RSU”) issued under the LTIP program are subject only to time vesting over a three to five-year period. In addition, as part of the Company's Global Annual Incentive Plan (“GAIP”), nonvested shares may be issued to key employees, which generally vest over a two to five-year period. Based on historical experience, the Company has generally assumed a forfeiture rate of 13% on its nonvested stock awards. The Company will record additional expense if the actual forfeiture rate is lower than estimated, and will record a recovery of prior expense if the actual forfeiture is higher than estimated. See Note 4 of Notes to Consolidated Financial Statements. | |||
Earnings per share: The Company follows FASB's guidance regarding the calculation of earnings per share (“EPS”) for nonvested stock awards with rights to non-forfeitable dividends. The guidance requires nonvested stock awards with rights to non-forfeitable dividends to be included as part of the basic weighted average share calculation under the two-class method. See Note 7 of Notes to Consolidated Financial Statements. | |||
Segments: The Company's reportable operating segments evidence the structure of the Company's internal organization, the method by which the Company's resources are allocated and the manner by which the Company assesses its performance. During 2013, certain internal shifts in the Company's management and changes to the structure of internally reported information occurred. The Company currently believes its structure, its resource allocation and its performance assessment are now more closely aligned with its four geographical regions: the North America region, the Europe, Middle East and Africa (“EMEA”) region, the Asia/Pacific region and the South America region. Therefore, the Company changed its reportable operating segments from those categorized by product nature to those organized by geography. All prior period information has been recast to reflect these four regions as the Company's new reportable operating segments. See Note 3 of Notes to Consolidated Financial Statements. | |||
Reclassifications: Certain information has been reclassified to conform to the current year presentation. | |||
Accounting estimates: The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingencies at the date of the financial statements and the reported amounts of net sales and expenses during the reporting period. Actual results could differ from such estimates. |
Out_Of_Period_Adjustment
Out Of Period Adjustment | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Changes And Error Corrections [Abstract] | ' |
Accounting Changes and Error Corrections [Text Block] | ' |
Note 2 – Out-of-Period Adjustment | |
As previously disclosed in the Company's 2012 Annual Report on Form 10-K, the Company had reassessed its ability to significantly influence the operating and financial policies of its captive insurance equity affiliate, Primex. Based on its ownership percentage and other factors, the Company determined that, during 2012, the Company obtained the ability to significantly influence Primex and, as a result, changed its method of accounting from the cost to equity method. During the first quarter of 2013, the Company identified errors in Primex's estimated 2012 financial statements, which primarily related to a reinsurance contract held by Primex. The identified errors resulted in a cumulative $1,038 understatement of the Company's equity in net income from associated companies for the year ended December 31, 2012. The Company corrected the errors related to Primex in the first quarter of 2013, which had the net effect of increasing equity in net income from associated companies by $1,038 for the three months ended March 31, 2013 and the year ended December 31, 2013. The Company does not believe this adjustment is material to its consolidated financial statements for the year ended December 31, 2012 or to the Company's results for the year ended December 31, 2013 and, therefore, did not restate any prior period amounts. |
Business_Segments
Business Segments | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Segment Disclosures [Abstract] | ' | |||||||||||
Segment Reporting Disclosure [Text Block] | ' | |||||||||||
Note 3 – Business Segments | ||||||||||||
The Company's reportable operating segments evidence the structure of the Company's internal organization, the method by which the Company's resources are allocated and the manner by which the Company assesses its performance. During 2013, certain internal shifts in the Company's management and changes to the structure of internally reported information occurred. The Company currently believes its structure, its resource allocation and its performance assessment are now more closely aligned with its four geographical regions: North America, EMEA, Asia/Pacific and South America. Therefore, the Company changed its reportable operating segments from those categorized by product nature to those organized by geography. All prior period information has been recast to reflect these four regions as the Company's new reportable operating segments. | ||||||||||||
Though the Company changed its reportable operating segments in the third quarter of 2013, the calculation of the reportable segment's measure of earnings remains relatively consistent with past practices. Operating earnings, excluding indirect operating expenses, for the Company's reportable segments are comprised of revenues less costs of goods sold and SG&A directly related to the respective regions' product sales. The Company's indirect operating expenses consist of SG&A related expenses that are not directly attributable to the product sales of each respective reporting segment. Other items not specifically identified with the Company's reportable operating segments include interest expense, interest income, license fees from non-consolidated affiliates and other income (expense). | ||||||||||||
The following tables present information about the performance of the Company's reportable operating segments for the years ended December 31, 2013, December 31, 2012 and December 31, 2011: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net sales | ||||||||||||
North America | $ | 308,353 | $ | 310,127 | $ | 268,519 | ||||||
EMEA | 187,794 | 174,799 | 184,063 | |||||||||
Asia/Pacific | 169,505 | 157,062 | 151,468 | |||||||||
South America | 63,743 | 66,238 | 79,181 | |||||||||
Total net sales | $ | 729,395 | $ | 708,226 | $ | 683,231 | ||||||
2013 | 2012 | 2011 | ||||||||||
Operating earnings, excluding indirect operating expenses | ||||||||||||
North America | $ | 61,307 | $ | 58,571 | $ | 48,342 | ||||||
EMEA | 29,643 | 24,640 | 27,376 | |||||||||
Asia/Pacific | 42,373 | 37,030 | 32,145 | |||||||||
South America | 9,177 | 6,730 | 11,642 | |||||||||
Total operating earnings, excluding indirect operating expenses | 142,500 | 126,971 | 119,505 | |||||||||
Non-operating charges | -67,145 | -59,983 | -58,689 | |||||||||
Depreciation of corporate assets and amortization | -4,112 | -3,764 | -2,904 | |||||||||
Consolidated operating income | 71,243 | 63,224 | 57,912 | |||||||||
Other income, net | 3,519 | 3,415 | 5,050 | |||||||||
Interest expense | -2,922 | -4,283 | -4,666 | |||||||||
Interest income | 986 | 592 | 1,081 | |||||||||
Consolidated income before taxes and equity in net income of associated companies | $ | 72,826 | $ | 62,948 | $ | 59,377 | ||||||
The following tables present information regarding the Company's reportable segments' assets as of December 31, 2013, December 31, 2012 and December 31, 2011: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Segment assets | ||||||||||||
North America | $ | 304,069 | $ | 284,362 | $ | 289,761 | ||||||
EMEA | 104,774 | 102,159 | 88,494 | |||||||||
Asia/Pacific | 129,894 | 101,760 | 81,086 | |||||||||
South America | 45,409 | 48,353 | 51,811 | |||||||||
Total segment assets | $ | 584,146 | $ | 536,634 | $ | 511,152 | ||||||
2013 | 2012 | 2011 | ||||||||||
Segment long-lived assets | ||||||||||||
North America | $ | 91,464 | $ | 91,121 | $ | 90,800 | ||||||
EMEA | 20,863 | 20,056 | 19,243 | |||||||||
Asia/Pacific | 24,695 | 19,720 | 15,225 | |||||||||
South America | 4,130 | 5,276 | 6,577 | |||||||||
Total segment long-lived assets | $ | 141,152 | $ | 136,173 | $ | 131,845 | ||||||
The following tables present information regarding the Company's reportable segments' capital expenditures and depreciation as of December 31, 2013, December 31, 2012 and December 31, 2011: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Capital expenditures | ||||||||||||
North America | $ | 2,793 | $ | 3,262 | $ | 5,185 | ||||||
EMEA | 1,391 | 3,332 | 2,442 | |||||||||
Asia/Pacific | 6,386 | 5,451 | 2,614 | |||||||||
South America | 869 | 690 | 1,876 | |||||||||
Total segment capital expenditures | $ | 11,439 | $ | 12,735 | $ | 12,117 | ||||||
2013 | 2012 | 2011 | ||||||||||
Depreciation | ||||||||||||
North America | $ | 5,236 | $ | 5,635 | $ | 4,739 | ||||||
EMEA | 3,145 | 2,906 | 2,922 | |||||||||
Asia/Pacific | 2,080 | 1,720 | 1,774 | |||||||||
South America | 1,211 | 1,333 | 1,454 | |||||||||
Total segment depreciation | $ | 11,672 | $ | 11,594 | $ | 10,889 | ||||||
The following table presents information regarding the Company's product lines that represent more than 10% of consolidated revenues for December 31, 2013, December 31, 2012 and December 31, 2011, with the remaining product sales impractical to present: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Rolling Lubricants | 20.7 | % | 20.7 | % | 22 | % | ||||||
Machining and grinding compounds | 17.7 | % | 17.6 | % | 18.8 | % | ||||||
Hydraulic fluids | 12.9 | % | 13.5 | % | 12.9 | % | ||||||
Corrosion preventives | 12.5 | % | 12.4 | % | 11.5 | % | ||||||
At December 31, 2013, December 31, 2012 and December 31, 2011, the North American segment had approximately $29,002, $27,125 and $12,818 of net sales and $3,649, $3,716 and $3,576 of long-lived assets, respectively, which were attributable to non-domestic operations. | ||||||||||||
Inter-segment revenue for the years ended December 31, 2013, December 31, 2012 and December 31, 2011 was $8,984, $10,026 and $13,728 for North America, $20,135, $15,414 and $17,246 for EMEA, $504, $321 and $399 for Asia/Pacific, and zero in all periods for South America, respectively. However, all inter-segment transactions have been eliminated from each reportable operating segment's net sales and earnings for all periods presented in the above tables. |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | |||||||||||||||||||
Note 4 – Stock-Based Compensation | ||||||||||||||||||||
The Company recognized share-based compensation expense in SG&A in its Consolidated Statement of Income for the years ended December 31, 2013, December 31, 2012 and December 31, 2011, including the following: | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||
Stock options | $ | 517 | $ | 542 | $ | 482 | ||||||||||||||
Nonvested stock awards and restricted stock units | 1,900 | 1,504 | 1,430 | |||||||||||||||||
Employee stock purchase plan | 60 | 48 | 44 | |||||||||||||||||
Non-elective and elective 401(k) matching contribution in stock | 1,612 | 1,653 | 1,497 | |||||||||||||||||
Director stock ownership plan | 72 | 60 | 60 | |||||||||||||||||
Total share-based compensation expense | $ | 4,161 | $ | 3,807 | $ | 3,513 | ||||||||||||||
As of December 31, 2013, December 31, 2012 and December 31, 2011, the Company recorded $815, $2,045 and $109, respectively, of excess tax benefits in capital in excess of par value on its Consolidated Balance Sheets related to stock option exercises. For 2013, 2012 and 2011, the Company also recognized these benefits as a cash inflow from financing activities in its Consolidated Statement of Cash Flows, which represents the Company's estimate of cash savings during 2013, 2012 and 2011. | ||||||||||||||||||||
Stock option activity under all plans is as follows: | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Weighted | Weighted | Weighted | Weighted | |||||||||||||||||
Average | Average | Average | Average | |||||||||||||||||
Exercise | Remaining | Exercise | Remaining | |||||||||||||||||
Number of | Price | Contractual | Number of | Price | Contractual | |||||||||||||||
Shares | per Share | Term (years) | Shares | per Share | Term (years) | |||||||||||||||
Options outstanding at January 1, | 107,455 | $ | 31.23 | 253,342 | $ | 16.43 | ||||||||||||||
Options granted | 29,302 | 58.26 | 40,157 | 38.57 | ||||||||||||||||
Options exercised | -57,137 | 27.12 | -177,574 | 11.87 | ||||||||||||||||
Options forfeited | -3,601 | 37.81 | -8,470 | 29.32 | ||||||||||||||||
Options expired | -768 | 37.37 | 0 | 0 | ||||||||||||||||
Options outstanding at December 31, | 75,251 | $ | 44.49 | 5.2 | 107,455 | $ | 31.23 | 5.1 | ||||||||||||
Options exercisable at December 31, | 11,840 | $ | 28.42 | 3.9 | 17,360 | $ | 28.81 | 4.4 | ||||||||||||
The total intrinsic value of options exercised during 2013 was approximately $2,237. Intrinsic value is calculated as the difference between the current market price of the underlying security and the strike price of a related option. As of December 31, 2013, the total intrinsic value of options outstanding was $2,462 and the total intrinsic value of exercisable options was approximately $578. | ||||||||||||||||||||
A summary of the Company's outstanding stock options at December 31, 2013 is as follows: | ||||||||||||||||||||
Number | Weighted | Weighted | Number | Weighted | ||||||||||||||||
Outstanding | Average | Average | Exercisable | Average | ||||||||||||||||
Range of | at | Contractual | Exercise | at | Exercise | |||||||||||||||
Exercise Prices | 12/31/13 | Life | Price | 12/31/13 | Price | |||||||||||||||
$ | 0 | - | $ | 10 | 0 | 0 | $ | 0 | 0 | $ | 0 | |||||||||
$ | 10.01 | - | $ | 20 | 6,155 | 3.1 | 18.82 | 6,155 | 18.82 | |||||||||||
$ | 20.01 | - | $ | 30 | 0 | 0 | 0 | 0 | 0 | |||||||||||
$ | 30.01 | - | $ | 40 | 37,602 | 4.8 | 37.86 | 4,954 | 37.73 | |||||||||||
$ | 40.01 | - | $ | 50 | 2,192 | 5.5 | 46.21 | 731 | 46.21 | |||||||||||
$ | 50.01 | - | $ | 60 | 29,302 | 6.2 | 58.26 | 0 | 0 | |||||||||||
75,251 | 5.2 | 44.49 | 11,840 | 28.42 | ||||||||||||||||
As of December 31, 2013, unrecognized compensation expense related to options granted in 2011 was $24, for options granted during 2012 was $240 and for options granted in 2013 was $464. | ||||||||||||||||||||
Consistent with prior years, the Company granted stock options under its LTIP plan that are subject only to time vesting over a three-year period in the first quarters of 2010, 2011, 2012 and 2013. Also, in connection with a transition of key employees in the Company during the second quarter of 2012, stock options were granted that are also subject only to time vesting over a three-year period. For the purposes of determining the fair value of stock option awards, the Company uses the Black-Scholes option pricing model and the assumptions set forth in the table below: | ||||||||||||||||||||
For the Year Ended December 31, | June 30, | |||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2012 | ||||||||||||||||
Stock option awards | 29,302 | 37,965 | 36,835 | 110,939 | 2,192 | |||||||||||||||
Dividend yield | 2.49 | % | 3.09 | % | 5 | % | 5.1 | % | 2.69 | % | ||||||||||
Expected volatility | 57.28 | % | 69.9 | % | 62.13 | % | 53.72 | % | 69.09 | % | ||||||||||
Risk-free interest rate | 0.63 | % | 0.61 | % | 1.99 | % | 2.85 | % | 0.58 | % | ||||||||||
Expected term (years) | 4 | 4 | 5 | 6 | 4 | |||||||||||||||
These awards are being amortized on a straight-line basis over the respective vesting period of each award. The compensation expense recorded on each award during 2013, 2012 and 2011, respectively, is as follows: | ||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||
2013 Stock option awards | $ | 174 | $ | 0 | $ | 0 | ||||||||||||||
2012 Stock option awards | $ | 189 | $ | 167 | $ | 0 | ||||||||||||||
2011 Stock option awards | $ | 138 | $ | 164 | $ | 139 | ||||||||||||||
2010 Stock option awards | $ | 16 | $ | 193 | $ | 224 | ||||||||||||||
Activity of nonvested shares granted under the Company's LTIP plan is shown below: | ||||||||||||||||||||
Weighted | ||||||||||||||||||||
Average Grant | ||||||||||||||||||||
Number of | Date Fair Value | |||||||||||||||||||
Shares | (per share) | |||||||||||||||||||
Nonvested awards, December 31, 2012 | 122,944 | $ | 31.98 | |||||||||||||||||
Granted | 51,659 | $ | 61.56 | |||||||||||||||||
Vested | -51,981 | $ | 26.02 | |||||||||||||||||
Forfeited | -6,638 | $ | 41.7 | |||||||||||||||||
Nonvested awards, December 31, 2013 | 115,984 | $ | 47.27 | |||||||||||||||||
The fair value of the nonvested stock is based on the trading price of the Company's common stock on the date of grant. The Company adjusts the grant date fair value for expected forfeitures based on historical experience for similar awards. As of December 31, 2013, unrecognized compensation expense related to these awards was $2,772, to be recognized over a weighted average remaining period of 2.32 years. | ||||||||||||||||||||
Activity of nonvested restricted stock units granted under the Company's LTIP plan is shown below: | ||||||||||||||||||||
Weighted | ||||||||||||||||||||
Average Grant | ||||||||||||||||||||
Number of | Date Fair Value | |||||||||||||||||||
Units | (per unit) | |||||||||||||||||||
Nonvested awards, December 31, 2012 | 2,100 | $ | 38.13 | |||||||||||||||||
Granted | 1,918 | $ | 62.39 | |||||||||||||||||
Nonvested awards, December 31, 2013 | 4,018 | $ | 49.71 | |||||||||||||||||
The fair value of the nonvested restricted stock units is based on the trading price of the Company's common stock on the date of grant. The Company adjusts the grant date fair value for expected forfeitures based on historical experience for similar awards. As of December 31, 2013, unrecognized compensation expense related to these awards was $114 to be recognized over a weighted average remaining period of 2.16 years. | ||||||||||||||||||||
Employee Stock Purchase Plan | ||||||||||||||||||||
In 2000, the Board adopted an Employee Stock Purchase Plan (“ESPP”) whereby employees may purchase Company stock through a payroll deduction plan. Purchases are made from the plan and credited to each participant's account at the end of each month, the “Investment Date.” The purchase price of the stock is 85% of the fair market value on the Investment Date. The plan is compensatory and the 15% discount is expensed on the Investment Date. All employees, including officers, are eligible to participate in this plan. A participant may withdraw all uninvested payment balances credited to a participant's account at any time. An employee whose stock ownership of the Company exceeds five percent of the outstanding common stock is not eligible to participate in this plan. | ||||||||||||||||||||
2013 Director Stock Ownership Plan | ||||||||||||||||||||
In March 2013, the Company adopted the 2013 Director Stock Ownership Plan (the “Plan”), subject to the approval by the Company's shareholders at the annual meeting, to encourage the Directors to increase their investment in the Company. The Plan was approved at the Company's May 2013 shareholders' meeting. The Plan authorizes the issuance of up to 75,000 shares of Quaker common stock in accordance with the terms of the Plan in payment of all or a portion of the annual cash retainer payable to each of the Company's non-employee directors in 2013 and subsequent years during the term of the Plan. Under the Plan, each director who, on May 1st of the applicable calendar year, owns less than 400% of the annual cash retainer for the applicable calendar year, divided by the average of the closing price of a share of Quaker Common Stock as reported by the composite tape of the New York Stock Exchange for the previous calendar year (the “Threshold Amount”), is required to receive 75% of the annual cash retainer in Quaker common stock and 25% of the retainer in cash, unless the director elects to receive a greater percentage of Quaker common stock (up to 100%) of the annual cash retainer for the applicable year. Each director who owns more than the Threshold Amount may elect to receive common stock in payment of a percentage (up to 100%) of the annual cash retainer. The annual retainer is $50 and the retainer payment date is June 1. The Plan was adopted in order to replace the 2003 Director Stock Ownership Plan, which expired in May 2013. |
Other_Income_Expense
Other Income (Expense) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Income and Expenses [Abstract] | ' | ||||||||||||
Other Income and Other Expense Disclosure [Text Block] | ' | ||||||||||||
Note 5 – Other income (expense) | |||||||||||||
Other income (expense) includes: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Non-income tax refunds | $ | 2,876 | $ | 358 | $ | 244 | |||||||
Change in fair value of acquisition-related liabilities | 497 | 2,770 | 595 | ||||||||||
Gain on revaluation of previously held ownership interest in equity affiliate | 0 | 0 | 2,718 | ||||||||||
Income from third party license fees | 1,027 | 1,264 | 1,652 | ||||||||||
Net foreign exchange losses | -1,076 | -1,034 | -482 | ||||||||||
Asset impairment related to a cost streamlining initiative | -211 | 0 | 0 | ||||||||||
Other non-operating income | 629 | 362 | 591 | ||||||||||
Other non-operating expense | -223 | -305 | -268 | ||||||||||
Total other income, net | $ | 3,519 | $ | 3,415 | $ | 5,050 |
Taxes_on_Income
Taxes on Income | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Taxes on Income and Uncertain Tax Positions [Abstract] | ' | |||||||||||||||||
Taxes on Income [Text Block] | ' | |||||||||||||||||
Note 6 – Taxes on Income and Uncertain Tax Positions | ||||||||||||||||||
Taxes (benefit) on income consist of the following: | ||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Current: | ||||||||||||||||||
Federal | $ | 7,216 | $ | 3,318 | $ | 3,485 | ||||||||||||
State | 263 | -69 | 385 | |||||||||||||||
Foreign | 13,040 | 9,972 | 7,955 | |||||||||||||||
20,519 | 13,221 | 11,825 | ||||||||||||||||
Deferred: | ||||||||||||||||||
Federal | 155 | 4,409 | 2,022 | |||||||||||||||
State | 138 | -794 | 0 | |||||||||||||||
Foreign | -323 | -1,261 | 409 | |||||||||||||||
Total | $ | 20,489 | $ | 15,575 | $ | 14,256 | ||||||||||||
The components of earnings before income taxes were as follows: | ||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Domestic | $ | 25,900 | $ | 26,520 | $ | 24,071 | ||||||||||||
Foreign | 46,926 | 36,428 | 35,306 | |||||||||||||||
Total | $ | 72,826 | $ | 62,948 | $ | 59,377 | ||||||||||||
Total deferred tax assets and liabilities are composed of the following at December 31: | ||||||||||||||||||
2013 | 2012 | |||||||||||||||||
Current | Non-current | Current | Non-current | |||||||||||||||
Retirement benefits | $ | 585 | $ | 9,371 | $ | 614 | $ | 14,397 | ||||||||||
Allowance for doubtful accounts | 1,990 | 0 | 1,984 | 0 | ||||||||||||||
Insurance and litigation reserves | 677 | 126 | 580 | 260 | ||||||||||||||
Postretirement benefits | 0 | 1,951 | 0 | 2,543 | ||||||||||||||
Supplemental retirement benefits | 0 | 3,010 | 0 | 2,501 | ||||||||||||||
Performance incentives | 3,858 | 686 | 3,002 | 520 | ||||||||||||||
Equity-based compensation | 351 | 585 | 349 | 395 | ||||||||||||||
Insurance settlement | 6 | 9,071 | 10 | 9,425 | ||||||||||||||
Operating loss carryforward | 0 | 9,228 | 0 | 9,425 | ||||||||||||||
Uncertain tax positions | 0 | 5,806 | 0 | 7,700 | ||||||||||||||
Other | 975 | 888 | 679 | 1,039 | ||||||||||||||
8,442 | 40,722 | 7,218 | 48,205 | |||||||||||||||
Valuation allowance | -924 | -6,742 | -710 | -7,148 | ||||||||||||||
Total deferred income tax assets, net | $ | 7,518 | $ | 33,980 | $ | 6,508 | $ | 41,057 | ||||||||||
Depreciation | 0 | 4,712 | 0 | 5,069 | ||||||||||||||
Europe pension and other | 0 | 2,343 | 0 | 2,552 | ||||||||||||||
Amortization and other | 749 | 8,595 | 360 | 9,146 | ||||||||||||||
Total deferred income tax liabilities | $ | 749 | $ | 15,650 | $ | 360 | $ | 16,767 | ||||||||||
Following are the changes in the Company's deferred tax asset valuation allowance for the years ended December 31, 2013, December 31, 2012 and December 31, 2011: | ||||||||||||||||||
Effect of | ||||||||||||||||||
Balance at | Additional | Allowance | Exchange | Balance | ||||||||||||||
Beginning | Valuation | Utilization | Rate | at End | ||||||||||||||
of Period | Allowance | and Other | Changes | of Period | ||||||||||||||
VALUATION ALLOWANCE | ||||||||||||||||||
Year ended December 31, 2013 | $ | 7,858 | $ | 26 | $ | -1 | $ | -217 | $ | 7,666 | ||||||||
Year ended December 31, 2012 | $ | 1,377 | $ | 6,594 | $ | -34 | $ | -79 | $ | 7,858 | ||||||||
Year ended December 31, 2011 | $ | 4,923 | $ | 348 | $ | -3,753 | $ | -141 | $ | 1,377 | ||||||||
The Company's net deferred tax assets and liabilities are classified in the Consolidated Balance Sheet as follows: | ||||||||||||||||||
2013 | 2012 | |||||||||||||||||
Current deferred tax assets | $ | 7,826 | $ | 6,401 | ||||||||||||||
Non-current deferred tax assets | 24,724 | 30,673 | ||||||||||||||||
Current deferred tax liabilities | 1,057 | 253 | ||||||||||||||||
Non-current deferred tax liabilities | 6,394 | 6,383 | ||||||||||||||||
Net deferred tax asset | $ | 25,099 | $ | 30,438 | ||||||||||||||
The following is a reconciliation of income taxes at the Federal statutory rate with income taxes recorded by the Company for the years ended December 31, 2013, December 31, 2012 and December 31, 2011: | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Income tax provision at the Federal statutory tax rate | $ | 25,489 | $ | 22,032 | $ | 20,782 | ||||||||||||
Differences in tax rates on foreign earnings and | ||||||||||||||||||
remittances | -2,487 | -3,207 | -3,692 | |||||||||||||||
Foreign dividends | 1,922 | 815 | 735 | |||||||||||||||
Excess foreign tax credit utilization | -3,664 | -2,237 | -2,493 | |||||||||||||||
Research and development activities credit utilization | -200 | 0 | -1,348 | |||||||||||||||
Uncertain tax positions | -589 | -1,196 | 701 | |||||||||||||||
Domestic production activities deduction | -560 | -402 | 0 | |||||||||||||||
State income tax provisions, net | 171 | -45 | 250 | |||||||||||||||
Non-deductible entertainment and business meals | ||||||||||||||||||
expense | 229 | 200 | 166 | |||||||||||||||
Non-taxable gain on acquisition | 0 | 0 | -951 | |||||||||||||||
Miscellaneous items, net | 178 | -385 | 106 | |||||||||||||||
Taxes on income | $ | 20,489 | $ | 15,575 | $ | 14,256 | ||||||||||||
At December 31, 2013, the Company domestically had a net deferred tax asset of $12,695. In addition, the Company has foreign tax loss carryforwards of $12,160 of which $15 expires in 2014, $352 expires in 2015, $119 expires in 2016, $344 expires in 2017, $619 expires in 2018, $291 expires in 2019, $102 expires in 2020, $245 expires in 2021 and $258 expires in 2022; the remaining foreign tax losses have no expiration dates. A partial valuation allowance has been established with respect to the tax benefit of these losses for $2,104. | ||||||||||||||||||
U.S. income taxes have not been provided on the undistributed earnings of non-U.S. subsidiaries because it is the Company's intention to continue to reinvest these earnings in those subsidiaries to support growth initiatives. U.S. and foreign income taxes that would be payable if such earnings were distributed may be lower than the amount computed at the U.S. statutory rate due to the availability of tax credits. The amount of such undistributed earnings at December 31, 2013 was approximately $188,000. Any income tax liability, which might result from ultimate remittance of these earnings, is expected to be substantially offset by foreign tax credits. It is currently impractical to estimate any such incremental tax expense. | ||||||||||||||||||
As of December 31, 2013, the Company's cumulative liability for gross unrecognized tax benefits was $12,596. The Company had accrued $2,100 for cumulative penalties and $2,108 for cumulative interest at December 31, 2013. As of December 31, 2012, the Company's cumulative liability for gross unrecognized tax benefits was $12,410. The Company had accrued $1,630 for cumulative penalties and $2,288 for cumulative interest at December 31, 2012. | ||||||||||||||||||
The Company continues to recognize interest and penalties associated with uncertain tax positions as a component of taxes on income before equity in net income of associated companies in its Consolidated Statement of Income. The Company recognized $392 for penalties and ($247) for interest (net of expirations and settlements) on its 2013 Consolidated Statement of Income, $301 for penalties and ($26) for interest (net of expirations and settlements) on its 2012 Consolidated Statement of Income and $502 for penalties and $529 for interest (net of expirations and settlements) on its 2011 Consolidated Statement of Income. | ||||||||||||||||||
The Company estimates that during the year ending December 31, 2014, it will reduce its cumulative liability for gross unrecognized tax benefits by approximately $1,700 to $1,800 due to the expiration of the statute of limitations with regard to certain tax positions. This estimated reduction in the cumulative liability for unrecognized tax benefits does not consider any increase in liability for unrecognized tax benefits with regard to existing tax positions or any increase in cumulative liability for unrecognized tax benefits with regard to new tax positions for the year ending December 31, 2014. | ||||||||||||||||||
The Company and its subsidiaries are subject to U.S. Federal income tax, as well as the income tax of various state and foreign tax jurisdictions. Tax years that remain subject to examination by major tax jurisdictions include Brazil from 2000, The Netherlands from 2007, United Kingdom from 2008, Spain from 2009, the United States, China and Italy from 2010 and various domestic state tax jurisdictions from 1993. | ||||||||||||||||||
In the first quarter of 2013, the Internal Revenue Service (“IRS”) initiated a limited scope audit of the Company's 2010 Federal Income Tax Return. By letter dated March 25, 2013, the IRS notified the Company that it had completed the review of the Company's 2010 Federal Income Tax Return without any changes to the reported tax. | ||||||||||||||||||
During the second quarter of 2012, the Italian tax authorities initiated a transfer pricing audit of the Company's Italian subsidiary. On July 7, 2012, the Company received a preliminary tax report related to this transfer pricing audit, which proposed several adjustments to the taxable income of the subsidiary. During the fourth quarter of 2012, the Company's Italian subsidiary received an assessment for the tax year 2007, which the Company appealed during the first quarter of 2013. On June 24, 2013, a hearing was held before the Provincial Tax Court of Varese, Italy. On September 16, 2013, the Provincial Tax Court of Varese delivered a decision confirming the Italian tax authorities' proposed adjustment to the taxable income of the subsidiary, but denying the proposed assessment of penalties. On January 24, 2014, Company's Italian subsidiary appealed the decision of the Provincial Tax Court of Varese. | ||||||||||||||||||
On November 29, 2013, the Italian tax authorities issued a tax assessment for the tax year 2008, raising identical issues as the assessment for 2007, noted above. The Company intends to file an appeal with the Provincial Tax Court of Varese and apply for competent authority relief between the Italian and Dutch tax authorities. | ||||||||||||||||||
Related to each of the above events, the Company and outside counsel believe we should prevail on the merits of each case. Therefore, the Company does not believe it has any exposures warranting an uncertain tax position reserve as of December 2013. | ||||||||||||||||||
A reconciliation of the beginning and ending amounts of unrecognized tax benefits for the years ended December 31, 2013, December 31, 2012 and December 31, 2011, respectively, is as follows: | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Unrecognized tax benefits at January 1 | $ | 12,410 | $ | 12,719 | $ | 10,464 | ||||||||||||
Increase in unrecognized tax benefits taken in prior periods | 83 | 0 | 1,597 | |||||||||||||||
(Decrease) in unrecognized tax benefits taken in prior periods | 0 | -411 | 0 | |||||||||||||||
Increase in unrecognized tax benefits taken in current period | 2,182 | 1,733 | 2,623 | |||||||||||||||
(Decrease) in unrecognized tax benefits due to lapse of statute of limitations | -2,485 | -1,837 | -1,578 | |||||||||||||||
Increase (decrease) due to foreign exchange rates | 406 | 206 | -387 | |||||||||||||||
Unrecognized tax benefits at December 31 | $ | 12,596 | $ | 12,410 | $ | 12,719 | ||||||||||||
The amount of unrecognized tax benefits above that, if recognized, would impact the Company's tax expense and effective tax rate is $1,194, $1,652 and $2,966 in 2013, 2012 and 2011, respectively. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||
Note 7 – Earnings Per Share | |||||||||||
The following table summarizes EPS calculations for the years ended December 31, 2013, December 31, 2012 and December 31, 2011: | |||||||||||
December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
Basic earnings per common share | |||||||||||
Net income attributable to Quaker Chemical Corporation | $ | 56,339 | $ | 47,405 | $ | 45,892 | |||||
Less: income allocated to participating securities | -481 | -526 | -825 | ||||||||
Net income available to common shareholders | $ | 55,858 | $ | 46,879 | $ | 45,067 | |||||
Basic weighted average common shares outstanding | 13,044,842 | 12,871,703 | 12,159,958 | ||||||||
Basic earnings per common share | $ | 4.28 | $ | 3.64 | $ | 3.71 | |||||
Diluted earnings per common share | |||||||||||
Net income attributable to Quaker Chemical Corporation | $ | 56,339 | $ | 47,405 | $ | 45,892 | |||||
Less: income allocated to participating securities | -481 | -524 | -817 | ||||||||
Net income available to common shareholders | $ | 55,858 | $ | 46,881 | $ | 45,075 | |||||
Basic weighted average common shares outstanding | 13,044,842 | 12,871,703 | 12,159,958 | ||||||||
Effect of dilutive securities | 24,770 | 58,798 | 158,215 | ||||||||
Diluted weighted average common shares outstanding | 13,069,612 | 12,930,501 | 12,318,173 | ||||||||
Diluted earnings per common share | $ | 4.27 | $ | 3.63 | $ | 3.66 | |||||
The following number of stock options are not included in diluted earnings per share since the effect would have been anti-dilutive: 2,863 in 2013, 4,417 in 2012 and 11,683 in 2011. | |||||||||||
Accounts_Receivable_and_Allowa
Accounts Receivable and Allowance for Doubtful Accounts | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Accounts Receivable and Allowance for Doubtful Accounts [Abstract] | ' | |||||||||||||||||
Accounts Receivable and Allowance for Doubtful Accounts [Text Block] | ' | |||||||||||||||||
Note 8 – Accounts Receivable and Allowance for Doubtful Accounts | ||||||||||||||||||
At December 31, 2013 and December 31, 2012, the Company had gross trade accounts receivable totaling $172,762 and $160,596 with trade accounts receivable greater than 90 days past due of $11,345 and $9,401, respectively. The following are changes in the allowance for doubtful accounts during the years ended December 31, 2013, December 31, 2012 and December 31, 2011: | ||||||||||||||||||
Exchange | ||||||||||||||||||
Charged | Rate | |||||||||||||||||
Balance at | to Costs | Write-Offs | Changes | Balance | ||||||||||||||
Beginning | and | Charged to | And Other | at End | ||||||||||||||
of Period | Expenses | Allowance | Adjustments | of Period | ||||||||||||||
ALLOWANCE FOR DOUBTFUL ACCOUNTS | ||||||||||||||||||
Year ended December 31, 2013 | $ | 6,399 | $ | 1,136 | $ | -407 | $ | 5 | $ | 7,133 | ||||||||
Year ended December 31, 2012 | $ | 4,569 | $ | 2,072 | $ | -737 | $ | 495 | $ | 6,399 | ||||||||
Year ended December 31, 2011 | $ | 4,278 | $ | 855 | $ | -607 | $ | 43 | $ | 4,569 | ||||||||
Included in exchange rate changes and other adjustments are allowance for doubtful accounts of $0, $416 and $146 acquired in 2013, 2012 and 2011 business acquisitions. |
Inventories
Inventories | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventories [Abstract] | ' | ||||||||
Inventories [Text Block] | ' | ||||||||
Note 9 – Inventories | |||||||||
Total inventories comprise: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Raw materials and supplies | $ | 37,063 | $ | 40,417 | |||||
Work in process and finished goods | 34,494 | 32,054 | |||||||
$ | 71,557 | $ | 72,471 |
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Text Block] | ' | ||||||||
Note 10 – Property, Plant and Equipment | |||||||||
Property, plant and equipment comprise: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Land | $ | 8,510 | $ | 8,346 | |||||
Building and improvements | 80,644 | 72,292 | |||||||
Machinery and equipment | 136,549 | 134,754 | |||||||
Construction in progress | 8,162 | 9,785 | |||||||
233,865 | 225,177 | ||||||||
Less accumulated depreciation | -148,377 | -140,065 | |||||||
$ | 85,488 | $ | 85,112 | ||||||
The Company leases certain equipment under capital leases in its North American, EMEA and South American segments. Gross property, plant and equipment includes $793 and $1,275 of capital leases with $380 and $569 of accumulated depreciation at December 31, 2013 and December 31, 2012, respectively. The following is a schedule by years of future minimum lease payments: | |||||||||
For the year ended December 31, | |||||||||
2014 | $ | 141 | |||||||
2015 | 96 | ||||||||
2016 | 65 | ||||||||
2017 | 59 | ||||||||
2018 | 0 | ||||||||
2019 and beyond | 0 | ||||||||
Total net minimum lease payments | 361 | ||||||||
Less amount representing interest | -18 | ||||||||
Present value of net minimum lease payments | $ | 343 |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||
Goodwill And Intangible Assets Disclosure [Text Block] | ' | |||||||||||||||
Note 11 – Goodwill and Other Intangible Assets | ||||||||||||||||
During 2013, certain internal shifts in the Company's management and changes to the structure of internally reported information occurred. The Company currently believes its structure, its resource allocation and its performance assessment are now more closely aligned with its four geographical regions: North America, EMEA, Asia/Pacific and South America. See Note 3 of Notes to Consolidated Financial Statements for further information. Similarly, the Company reassessed and changed its reporting units for goodwill testing purposes during 2013 to adhere to its geographical orientation. Based on its revised reporting units, the Company completed its annual impairment test as of the end of the third quarter of 2013 and no impairment charge was warranted. The estimated fair value of each of the Company's reporting units substantially exceeded its carrying value, with none of the Company's reporting units at risk for failing step one of the goodwill impairment test. In addition, the Company has recorded no impairment charges in the past. | ||||||||||||||||
Changes in the carrying amount of goodwill for the years ended December 31, 2013 and December 31, 2012 were as follows: | ||||||||||||||||
North | South | |||||||||||||||
America | EMEA | Asia/Pacific | America | Total | ||||||||||||
Balance as of December 31, 2011 | $ | 28,128 | $ | 11,184 | $ | 15,018 | $ | 3,822 | $ | 58,152 | ||||||
Goodwill additions | 0 | 1,786 | 0 | 0 | 1,786 | |||||||||||
Currency translation adjustments | 407 | -1,559 | 305 | 78 | -769 | |||||||||||
Balance as of December 31, 2012 | $ | 28,535 | $ | 11,411 | $ | 15,323 | $ | 3,900 | $ | 59,169 | ||||||
Goodwill additions | 277 | 0 | 0 | 0 | 277 | |||||||||||
Currency translation adjustments | -685 | -227 | -305 | -78 | -1,295 | |||||||||||
Balance as of December 31, 2013 | $ | 28,127 | $ | 11,184 | $ | 15,018 | $ | 3,822 | $ | 58,151 | ||||||
Gross carrying amounts and accumulated amortization for definite-lived intangible assets as of December 31, 2013 and December 31, 2012 were as follows: | ||||||||||||||||
Gross Carrying | Accumulated | |||||||||||||||
Amount | Amortization | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Amortized intangible assets | ||||||||||||||||
Customer lists and rights to sell | $ | 33,559 | $ | 32,356 | $ | 10,221 | $ | 8,192 | ||||||||
Trademarks and patents | 6,838 | 6,760 | 3,202 | 2,548 | ||||||||||||
Formulations and product technology | 5,808 | 5,278 | 3,709 | 3,423 | ||||||||||||
Other | 5,544 | 5,467 | 4,445 | 3,989 | ||||||||||||
Total | $ | 51,749 | $ | 49,861 | $ | 21,577 | $ | 18,152 | ||||||||
The Company recorded $3,445, $3,106 and $2,338 of amortization expense in 2013, 2012 and 2011, respectively. Estimated annual aggregate amortization expense for the subsequent five years is as follows: | ||||||||||||||||
For the year ended December 31, 2014 | $3,254 | |||||||||||||||
For the year ended December 31, 2015 | $3,254 | |||||||||||||||
For the year ended December 31, 2016 | $2,775 | |||||||||||||||
For the year ended December 31, 2017 | $2,112 | |||||||||||||||
For the year ended December 31, 2018 | $2,089 | |||||||||||||||
The Company has two indefinite-lived intangible assets totaling $1,100 for trademarks at December 31, 2013 and December 31, 2012. |
Investments_in_Associated_Comp
Investments in Associated Companies | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Investments in Associated Companies [Abstract] | ' | |||||||||||
Investments in Associated Companies [Text Block] | ' | |||||||||||
Note 12 – Investments in Associated Companies | ||||||||||||
As of December 31, 2013, the Company held a 50% investment in and had significant influence over Kelko Quaker Chemical, S.A. (Venezuela), Nippon Quaker Chemical, Ltd. (Japan) and Kelko Quaker Chemical S.A. (Panama) and held a 33% investment in and had significant influence over Primex, Ltd. (Barbados). | ||||||||||||
During the first quarter of 2013, the Company identified errors in Primex's estimated 2012 financial statements, which primarily related to a reinsurance contract held by Primex. The identified errors resulted in a cumulative $1,038 understatement of the Company's equity in net income from associated companies for the year ended December 31, 2012, which were corrected in the first quarter of 2013. See Note 2 of Notes to Consolidated Financial Statements for further information. | ||||||||||||
Venezuela's economy is considered to be hyper inflationary under generally accepted accounting principles in the United States. Accordingly, all gains and losses resulting from the remeasurement of the Company's Venezuelan equity affiliate (Kelko Quaker Chemical, S.A.) are required to be recorded directly to the Consolidated Statement of Income. In February 2013, the Venezuelan Government announced a devaluation of the Bolivar Fuerte. Accordingly, the Company recorded a charge of approximately $357, or $0.03 per diluted share, in equity in net income of associated companies during the first quarter of 2013. | ||||||||||||
In 2011, the Company purchased the remaining 60% ownership interest in Tecniquimia Mexicana, S.A. de C.V., the Company's Mexican equity affiliate. As a result of the purchase, the Company only included six months of the affiliate's 2011 results in its investments in associated companies, with the remaining six months after acquisition being reflected as a wholly owned subsidiary in the Company's Consolidated Financial Statements. | ||||||||||||
The carrying amount of the Company's equity investments at December 31, 2013 was $19,397, which included investments of $12,094 in Primex, Ltd. (Barbados), assigned to the Company's North American segment; $5,267, in Nippon Quaker Chemical, Ltd. (Japan), assigned to the Company's Asia/Pacific segment; $1,652 in Kelko Quaker Chemical, S.A. (Venezuela), assigned to the Company's South American segment; and $384, in Kelko Quaker Chemical, S.A. (Panama), assigned to the Company's South American segment. | ||||||||||||
Summarized financial information of Kelko Quaker Chemical, S.A. (Venezuela), Nippon Quaker Chemical, Ltd. (Japan) and Kelko Quaker Chemical S.A. (Panama), in the aggregate, is as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Current Assets | $ | 28,363 | $ | 28,602 | ||||||||
Noncurrent Assets | 717 | 2,402 | ||||||||||
Current Liabilities | 13,974 | 15,158 | ||||||||||
Noncurrent Liabilities | 501 | 248 | ||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net Sales | $ | 47,226 | $ | 55,963 | $ | 66,925 | ||||||
Gross Margin | 16,096 | 18,480 | 22,092 | |||||||||
Income Before Income Taxes | 3,687 | 3,170 | 3,788 | |||||||||
Net Income | 2,142 | 2,118 | 1,696 | |||||||||
Summarized financial information of Primex, Ltd. is as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Total Assets | $ | 106,450 | $ | 130,816 | ||||||||
Total Liabilities | 63,938 | 97,754 | ||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Revenue | $ | 20,895 | $ | 8,473 | $ | 11,523 | ||||||
Income Before Income Taxes | 25,625 | 8,901 | 14,837 | |||||||||
Net Income | 16,876 | 6,031 | 9,941 | |||||||||
As noted above, the Company identified errors in Primex's estimated 2012 financial statements during the first quarter of 2013, which were corrected in the first quarter of 2013. The identified errors resulted in increases to Primex's revenue of $4,905, income before taxes of $5,240 and net income of $3,422, which are included in the 2013 summarized financial information for Primex above. | ||||||||||||
During the first quarter of 2013, the Company received its first dividend distribution from Primex, Ltd. of approximately $2,000, which was accounted for as a reduction of the Company's investment balance in this associated company. |
Other_Assets
Other Assets | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Other Assets [Abstract] | ' | ||||||||
Other Assets [Text Block] | ' | ||||||||
Note 13 – Other Assets | |||||||||
Other assets include: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Restricted insurance settlement | $ | 25,462 | $ | 26,398 | |||||
Deferred compensation assets | 894 | 915 | |||||||
Supplemental retirement income program | 1,885 | 1,653 | |||||||
Uncertain tax positions | 4,677 | 3,058 | |||||||
Other | 3,349 | 2,434 | |||||||
Total | $ | 36,267 | $ | 34,458 | |||||
Previously, an inactive subsidiary of the Company executed separate settlement and release agreements with two of its insurance carriers for $35,000, of which $25,462 remains. The proceeds of both settlements are restricted and can only be used to pay claims and costs of defense associated with the subsidiary's asbestos litigation. The proceeds of the settlement and release agreements have been deposited into interest bearing accounts which earned approximately $52 and $69 in 2013 and 2012, respectively, offset by $988 and $1,391 of payments in 2013 and 2012, respectively. Due to the restricted nature of the proceeds, a corresponding deferred credit was established in “Other non-current liabilities” for an equal and offsetting amount, and will remain until the restrictions lapse or the funds are exhausted via payments of claims and costs of defense. See Notes 17 and 22 of Notes to Consolidated Financial Statements. | |||||||||
Other_Current_Liabilities
Other Current Liabilities | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Other Current Liabilities [Abstract] | ' | ||||||||
Other Accrued Liabilities Disclosure [Text Block] | ' | ||||||||
Note 14 – Other Current Liabilities | |||||||||
Other current liabilities comprise: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Non-income taxes | $ | 7,658 | $ | 6,364 | |||||
Acquisition-related consideration | 4,797 | 0 | |||||||
Professional fees | 2,007 | 2,083 | |||||||
Selling expenses | 4,266 | 2,205 | |||||||
Legal | 960 | 1,018 | |||||||
Freight | 1,914 | 1,120 | |||||||
Income taxes payable | 5,216 | 0 | |||||||
Other | 3,767 | 3,457 | |||||||
Total | $ | 30,585 | $ | 16,247 | |||||
During 2013, the Company's estimated acquisition-related earnout liability assumed in the 2010 purchase of Summit, Inc. was reclassified from non-current liabilities to other current liabilities, as the liability is expected to be settled during 2014. See also Notes 19 and 20 for more information. In 2012, the Company recorded net prepayments of income taxes, as compared to incurring income taxes payable in the current year. |
Debt
Debt | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt [Abstract] | ' | ||||||||
Debt [Text Block] | ' | ||||||||
Note 15 – Debt | |||||||||
Debt includes the following: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Industrial development authority monthly 5.60% fixed rate demand bond maturing 2018 | $ | 5,000 | $ | 5,000 | |||||
Industrial development authority monthly 5.26% fixed rate demand bond maturing 2028 | 10,000 | 10,000 | |||||||
Credit facilities (1.66% weighted average borrowing rate at December 31, 2013) | 0 | 12,200 | |||||||
Ohio Department of Development term loan (see below) | 2,428 | 2,754 | |||||||
Other debt obligations (including capital leases) | 1,288 | 1,514 | |||||||
18,716 | 31,468 | ||||||||
Short-term debt | -945 | -867 | |||||||
Current portion of long-term debt | -450 | -601 | |||||||
$ | 17,321 | $ | 30,000 | ||||||
During the next five years, payments on the Company's debt, including capital lease maturities, are due as follows: | |||||||||
2014 | $ | 1,395 | |||||||
2015 | 418 | ||||||||
2016 | 393 | ||||||||
2017 | 396 | ||||||||
2018 | 5,344 | ||||||||
2019 and beyond | $ | 10,770 | |||||||
As discussed in the Current Report on Form 8-K filed on June 17, 2013, the Company entered into a revised syndicated multicurrency credit facility on June 14, 2013, which amended and replaced the Company's previous credit facility with Bank of America, N.A. and certain other major financial institutions. The revised facility increased the maximum principal amount available for revolving credit borrowings under this facility from $175,000 to $300,000, which can be increased to $400,000 at the Company's option if the lenders agree and the Company satisfies certain conditions. This facility matures in June 2018. In addition, the revised facility amended certain financial, acquisition and other covenants, but the consolidated leverage ratio calculation, for which access to credit under the former facility largely depended upon, remains relatively consistent and cannot exceed 3.50 to 1. As of December 31, 2013 and December 31, 2012, the Company's consolidated leverage ratio was below 1.0 to 1 and the Company was also in compliance with all of the current and former facilities' other covenants, respectively. At December 31, 2013 and December 31, 2012, the Company had approximately $0 and $12,200 outstanding on these credit lines at weighted average borrowing rates of 1.66% and 2.03% (LIBOR plus a spread) during each respective year. | |||||||||
As part of its Middletown, Ohio facility's past expansion project, the Company agreed to a low interest rate $3,500 loan with the Ohio Department of Development. Principal repayment on this loan began in September 2010 with its final maturity being in 2021. The current interest rate of 1% will rise to 2% beginning January 1, 2014 and to 3% beginning January 1, 2019 until final maturity. | |||||||||
At December 31, 2013 and December 31, 2012, the amounts at which the Company's debt is recorded are not materially different from their fair market value. | |||||||||
Pension_and_Postretirement_Ben
Pension and Postretirement Benefits | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Pension and Other Postretirement Benefits [Abstract] | ' | ||||||||||||||||||||||||
Pension And Other Postretirement Benefits Disclosure [Text Block] | ' | ||||||||||||||||||||||||
Note 16 – Pension and Other Postretirement Benefits | |||||||||||||||||||||||||
The following table shows the Company's plans' funded status reconciled with amounts reported in the consolidated balance sheet as of December 31, 2013 and December 31, 2012: | |||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
Postretirement | |||||||||||||||||||||||||
Pension Benefits | Benefits | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Foreign | Domestic | Total | Foreign | Domestic | Total | Domestic | Domestic | ||||||||||||||||||
Change in benefit obligation | |||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 81,280 | $ | 70,407 | $ | 151,687 | $ | 61,581 | $ | 66,226 | $ | 127,807 | $ | 7,317 | $ | 7,202 | |||||||||
Service cost | 2,864 | 299 | 3,163 | 2,004 | 460 | 2,464 | 34 | 46 | |||||||||||||||||
Interest cost | 3,150 | 2,437 | 5,587 | 3,020 | 2,803 | 5,823 | 185 | 283 | |||||||||||||||||
Employee contributions | 111 | 0 | 111 | 101 | 0 | 101 | 0 | 0 | |||||||||||||||||
Effect of plan amendments | -2,138 | 0 | -2,138 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
Benefits paid | -1,853 | -4,516 | -6,369 | -1,973 | -4,668 | -6,641 | -566 | -728 | |||||||||||||||||
Plan expenses and premiums paid | -367 | -225 | -592 | -331 | -225 | -556 | 0 | 0 | |||||||||||||||||
Actuarial (gain) loss | -566 | -2,033 | -2,599 | 14,874 | 5,811 | 20,685 | -1,331 | 514 | |||||||||||||||||
Translation difference and other | 3,264 | 0 | 3,264 | 2,004 | 0 | 2,004 | 0 | 0 | |||||||||||||||||
Benefit obligation at end of year | $ | 85,745 | $ | 66,369 | $ | 152,114 | $ | 81,280 | $ | 70,407 | $ | 151,687 | $ | 5,639 | $ | 7,317 | |||||||||
Change in plan assets | |||||||||||||||||||||||||
Fair value of plan assets at beginning of | |||||||||||||||||||||||||
year | $ | 60,909 | $ | 45,991 | $ | 106,900 | $ | 54,968 | $ | 43,470 | $ | 98,438 | $ | 0 | $ | 0 | |||||||||
Actual return on plan assets | 3,237 | 7,487 | 10,724 | 2,972 | 4,466 | 7,438 | 0 | 0 | |||||||||||||||||
Employer contributions | 3,947 | 1,913 | 5,860 | 3,842 | 2,948 | 6,790 | 566 | 728 | |||||||||||||||||
Employee contributions | 111 | 0 | 111 | 101 | 0 | 101 | 0 | 0 | |||||||||||||||||
Benefits paid | -1,853 | -4,516 | -6,369 | -1,973 | -4,668 | -6,641 | -566 | -728 | |||||||||||||||||
Plan expenses and premiums paid | -367 | -225 | -592 | -331 | -225 | -556 | 0 | 0 | |||||||||||||||||
Translation difference | 2,675 | 0 | 2,675 | 1,330 | 0 | 1,330 | 0 | 0 | |||||||||||||||||
Fair value of plan assets at end of year | $ | 68,659 | $ | 50,650 | $ | 119,309 | $ | 60,909 | $ | 45,991 | $ | 106,900 | $ | 0 | $ | 0 | |||||||||
Net amount recognized | $ | -17,086 | $ | -15,719 | $ | -32,805 | $ | -20,371 | $ | -24,416 | $ | -44,787 | $ | -5,639 | $ | -7,317 | |||||||||
Amounts recognized in the balance sheet | |||||||||||||||||||||||||
consist of: | |||||||||||||||||||||||||
Current liabilities | $ | -242 | $ | -589 | $ | -831 | $ | -892 | $ | -577 | $ | -1,469 | $ | -607 | $ | -719 | |||||||||
Non-current liabilities | -16,844 | -15,130 | -31,974 | -19,479 | -23,839 | -43,318 | -5,032 | -6,598 | |||||||||||||||||
Net amount recognized | $ | -17,086 | $ | -15,719 | $ | -32,805 | $ | -20,371 | $ | -24,416 | $ | -44,787 | $ | -5,639 | $ | -7,317 | |||||||||
Amounts not yet reflected in net periodic | |||||||||||||||||||||||||
benefit costs and included in | |||||||||||||||||||||||||
accumulated other comprehensive | |||||||||||||||||||||||||
loss: | |||||||||||||||||||||||||
Prior service credit (cost) | $ | 2,105 | $ | -311 | $ | 1,794 | $ | -62 | $ | -460 | $ | -522 | $ | 0 | $ | 0 | |||||||||
Accumulated loss | -27,188 | -27,593 | -54,781 | -29,227 | -35,929 | -65,156 | -745 | -2,107 | |||||||||||||||||
Accumulated other comprehensive | |||||||||||||||||||||||||
loss (AOCI) | -25,083 | -27,904 | -52,987 | -29,289 | -36,389 | -65,678 | -745 | -2,107 | |||||||||||||||||
Cumulative employer contributions | |||||||||||||||||||||||||
in excess of net period benefit cost | 7,997 | 12,185 | 20,182 | 8,918 | 11,973 | 20,891 | -4,894 | -5,210 | |||||||||||||||||
Net amount recognized | $ | -17,086 | $ | -15,719 | $ | -32,805 | $ | -20,371 | $ | -24,416 | $ | -44,787 | $ | -5,639 | $ | -7,317 | |||||||||
The accumulated benefit obligation for all defined benefit pension plans was $150,374 ($66,369 Domestic and $84,005 Foreign) and $145,836 ($69,951 Domestic and $75,885 Foreign) at December 31, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||||||
Information for pension plans with an accumulated benefit obligation in excess of plan assets: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Foreign | Domestic | Total | Foreign | Domestic | Total | ||||||||||||||||||||
Projected benefit obligation | $ | 85,745 | $ | 66,369 | $ | 152,114 | $ | 81,280 | $ | 70,407 | $ | 151,687 | |||||||||||||
Accumulated benefit obligation | 84,005 | 66,369 | 150,374 | 75,885 | 69,951 | 145,836 | |||||||||||||||||||
Fair value of plan assets | 68,659 | 50,650 | 119,309 | 60,909 | 45,991 | 106,900 | |||||||||||||||||||
Information for pension plans with a projected benefit obligation in excess of plan assets: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Foreign | Domestic | Total | Foreign | Domestic | Total | ||||||||||||||||||||
Projected benefit obligation | $ | 85,745 | $ | 66,369 | $ | 152,114 | $ | 81,280 | $ | 70,407 | $ | 151,687 | |||||||||||||
Fair value of plan assets | 68,659 | 50,650 | 119,309 | 60,909 | 45,991 | 106,900 | |||||||||||||||||||
Components of net periodic benefit costs – pension plans: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Foreign | Domestic | Total | Foreign | Domestic | Total | ||||||||||||||||||||
Service cost | $ | 2,864 | $ | 299 | $ | 3,163 | $ | 2,004 | $ | 460 | $ | 2,464 | |||||||||||||
Interest cost | 3,150 | 2,437 | 5,587 | 3,020 | 2,803 | 5,823 | |||||||||||||||||||
Expected return on plan assets | -2,245 | -3,664 | -5,909 | -1,995 | -3,481 | -5,476 | |||||||||||||||||||
Actuarial loss amortization | 1,486 | 2,481 | 3,967 | 590 | 2,057 | 2,647 | |||||||||||||||||||
Prior service cost amortization | 30 | 148 | 178 | 30 | 82 | 112 | |||||||||||||||||||
Net periodic benefit cost | $ | 5,285 | $ | 1,701 | $ | 6,986 | $ | 3,649 | $ | 1,921 | $ | 5,570 | |||||||||||||
2011 | |||||||||||||||||||||||||
Foreign | Domestic | Total | |||||||||||||||||||||||
Service cost | $ | 1,890 | $ | 400 | $ | 2,290 | |||||||||||||||||||
Interest cost | 3,037 | 3,145 | 6,182 | ||||||||||||||||||||||
Expected return on plan assets | -2,349 | -3,592 | -5,941 | ||||||||||||||||||||||
Actuarial loss amortization | 233 | 1,554 | 1,787 | ||||||||||||||||||||||
Prior service cost amortization | 32 | 82 | 114 | ||||||||||||||||||||||
Net periodic benefit cost | $ | 2,843 | $ | 1,589 | $ | 4,432 | |||||||||||||||||||
Other changes recognized in other comprehensive income: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Foreign | Domestic | Total | Foreign | Domestic | Total | ||||||||||||||||||||
Net (gain) loss arising during the period | $ | -1,558 | $ | -5,856 | $ | -7,414 | $ | 13,897 | $ | 4,826 | $ | 18,723 | |||||||||||||
Effect of plan amendment | -2,138 | 0 | -2,138 | 0 | 0 | 0 | |||||||||||||||||||
Recognition of amortization in net periodic | |||||||||||||||||||||||||
benefit cost | |||||||||||||||||||||||||
Prior service cost | -30 | -148 | -178 | -30 | -82 | -112 | |||||||||||||||||||
Actuarial loss | -1,486 | -2,481 | -3,967 | -590 | -2,057 | -2,647 | |||||||||||||||||||
Effect of exchange rates on amounts included in | |||||||||||||||||||||||||
AOCI | 1,007 | 0 | 1,007 | 809 | 0 | 809 | |||||||||||||||||||
Total recognized in other comprehensive | |||||||||||||||||||||||||
(income) loss | -4,205 | -8,485 | -12,690 | 14,086 | 2,687 | 16,773 | |||||||||||||||||||
Total recognized in net periodic benefit cost and | |||||||||||||||||||||||||
other comprehensive (income) loss | $ | 1,080 | $ | -6,784 | $ | -5,704 | $ | 17,735 | $ | 4,608 | $ | 22,343 | |||||||||||||
2011 | |||||||||||||||||||||||||
Foreign | Domestic | Total | |||||||||||||||||||||||
Net loss arising during period | $ | 5,164 | $ | 7,593 | $ | 12,757 | |||||||||||||||||||
Recognition of amortization in net periodic benefit cost | |||||||||||||||||||||||||
Prior service cost | -32 | -82 | -114 | ||||||||||||||||||||||
Actuarial loss | -233 | -1,554 | -1,787 | ||||||||||||||||||||||
Effect of exchange rates on amounts included in AOCI | -794 | 0 | -794 | ||||||||||||||||||||||
Total recognized in other comprehensive loss | 4,105 | 5,957 | 10,062 | ||||||||||||||||||||||
Total recognized in net periodic benefit cost and other | |||||||||||||||||||||||||
comprehensive loss | $ | 6,948 | $ | 7,546 | $ | 14,494 | |||||||||||||||||||
Components of net periodic benefit costs – other postretirement plan: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Interest cost | $ | 185 | $ | 283 | $ | 331 | |||||||||||||||||||
Service cost | 34 | 46 | 16 | ||||||||||||||||||||||
Actuarial loss amortization | 32 | 115 | 75 | ||||||||||||||||||||||
Net periodic benefit costs | $ | 251 | $ | 444 | $ | 422 | |||||||||||||||||||
Other changes recognized in other comprehensive income – other postretirement benefit plans: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Net (gain) loss arising during period | $ | -1,331 | $ | 514 | $ | -167 | |||||||||||||||||||
Amortization of actuarial loss in net periodic benefit costs | -32 | -115 | -75 | ||||||||||||||||||||||
Total recognized in other comprehensive (income) loss | -1,363 | 399 | -242 | ||||||||||||||||||||||
Total recognized in net periodic benefit cost and other | |||||||||||||||||||||||||
comprehensive (income) loss | $ | -1,112 | $ | 843 | $ | 180 | |||||||||||||||||||
Estimated amounts that will be amortized from accumulated other comprehensive loss over the next fiscal year: | |||||||||||||||||||||||||
Pension Plans | Other Postretirement | ||||||||||||||||||||||||
Foreign | Domestic | Total | Benefits | ||||||||||||||||||||||
Actuarial loss | $ | 1,351 | $ | 1,819 | $ | 3,170 | $ | 24 | |||||||||||||||||
Prior service (credit) cost | -154 | 63 | -91 | 0 | |||||||||||||||||||||
$ | 1,197 | $ | 1,882 | $ | 3,079 | $ | 24 | ||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations at December 31, 2013 and December 31, 2012: | |||||||||||||||||||||||||
Other Postretirement | |||||||||||||||||||||||||
Pension Benefits | Benefits | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
U.S. Plans: | |||||||||||||||||||||||||
Discount rate | 4.48% | 3.52% | 4.05% | 3.20% | |||||||||||||||||||||
Rate of compensation increase | 3.63% | 3.40% | N/A | N/A | |||||||||||||||||||||
Foreign Plans: | |||||||||||||||||||||||||
Discount rate | 3.84% | 3.94% | N/A | N/A | |||||||||||||||||||||
Rate of compensation increase | 3.05% | 3.60% | N/A | N/A | |||||||||||||||||||||
Weighted-average assumptions used to determine net periodic benefit costs for the years ended December 31, 2013 and December 31, 2012: | |||||||||||||||||||||||||
Other Postretirement | |||||||||||||||||||||||||
Pension Benefits | Benefits | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
U.S. Plans: | |||||||||||||||||||||||||
Discount rate | 3.52% | 4.41% | 3.20% | 4.15% | |||||||||||||||||||||
Expected long-term return on plan assets | 8.25% | 8.25% | N/A | N/A | |||||||||||||||||||||
Rate of compensation increase | 3.40% | 3.40% | N/A | N/A | |||||||||||||||||||||
Foreign Plans: | |||||||||||||||||||||||||
Discount rate | 3.94% | 4.99% | N/A | N/A | |||||||||||||||||||||
Expected long-term return on plan assets | 3.57% | 3.51% | N/A | N/A | |||||||||||||||||||||
Rate of compensation increase | 3.60% | 3.58% | N/A | N/A | |||||||||||||||||||||
The long-term rates of return on assets were selected from within the reasonable range of rates determined by (a) historical real returns for the asset classes covered by the investment policy and (b) projections of inflation over the long-term period during which benefits are payable to plan participants. See Note 1 for further information. | |||||||||||||||||||||||||
Assumed health care cost trend rates at December 31, 2013 and December 31, 2012: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Health care cost trend rate for next year | 7.10% | 7.30% | |||||||||||||||||||||||
Rate to which the cost trend rate is assumed to decline (the | |||||||||||||||||||||||||
ultimate trend rate) | 4.50% | 4.50% | |||||||||||||||||||||||
Year that the rate reaches the ultimate trend rate | 2027 | 2027 | |||||||||||||||||||||||
Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. A one-percentage-point change in assumed health care cost trend rates would have the following effects: | |||||||||||||||||||||||||
1% point | 1% point | ||||||||||||||||||||||||
Increase | Decrease | ||||||||||||||||||||||||
Effect on total service and interest cost | $ | 21 | $ | -18 | |||||||||||||||||||||
Effect on postretirement benefit obligations | 456 | -401 | |||||||||||||||||||||||
Plan Assets and Fair Value | |||||||||||||||||||||||||
The Company's pension plan target asset allocation and the weighted-average asset allocations at December 31, 2013 and December 31, 2012 by asset category were as follows: | |||||||||||||||||||||||||
Target | 2013 | 2012 | |||||||||||||||||||||||
Asset Category | |||||||||||||||||||||||||
U.S. Plans | |||||||||||||||||||||||||
Equity securities | 61% | 66% | 58% | ||||||||||||||||||||||
Debt securities | 32% | 32% | 40% | ||||||||||||||||||||||
Other | 7% | 2% | 2% | ||||||||||||||||||||||
Total | 100% | 100% | 100% | ||||||||||||||||||||||
Foreign Plans | |||||||||||||||||||||||||
Equity securities and other | 18% | 19% | 17% | ||||||||||||||||||||||
Debt securities | 82% | 81% | 83% | ||||||||||||||||||||||
Total | 100% | 100% | 100% | ||||||||||||||||||||||
As of December 31, 2013 and December 31, 2012, “Other” consisted principally of cash and cash equivalents (approximately 2% of plan assets in each respective period). | |||||||||||||||||||||||||
The following is a description of the valuation methodologies used for the investments measured at fair value, including the general classification of such instruments pursuant to the valuation hierarchy: | |||||||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||||||
Cash and cash equivalents consist of cash and money market funds and are classified as Level 1 investments. | |||||||||||||||||||||||||
Registered Investment Companies | |||||||||||||||||||||||||
The shares of registered investment companies, which represent the net asset values of shares held by the Plan, are valued at quoted market prices in an exchange and active market and are classified as Level 1 investments. | |||||||||||||||||||||||||
Common Stock | |||||||||||||||||||||||||
Common stock is valued at quoted market prices in an exchange and active market and is classified as Level 1 investments. | |||||||||||||||||||||||||
Corporate Fixed Income Securities | |||||||||||||||||||||||||
Corporate fixed income securities are valued at quoted market prices in an exchange and active market and are classified as Level 1 investments. | |||||||||||||||||||||||||
U.S. and Foreign Government Fixed Income Securities | |||||||||||||||||||||||||
U.S. and foreign government securities are valued at quoted market prices in an exchange and active market and are classified as Level 1 investments. | |||||||||||||||||||||||||
Pooled Separate Accounts | |||||||||||||||||||||||||
Pooled separate accounts consist of insurance annuity contracts and are valued based on the reported unit value at year end. Units of the pooled separate accounts are not traded in an active exchange or market; however, valuation is based on the underlying investments of the units and are classified as Level 2 investments. | |||||||||||||||||||||||||
Diversified Equity Securities of Registered Investment Companies | |||||||||||||||||||||||||
Investments in diversified equity securities of registered investment companies are based upon the quoted redemption value of shares in the fund owned by the plan at year end. The shares of the fund are not available in an exchange or active market; however, the fair value is determined based on the underlying investments in the fund as traded in an exchange and active market and are classified as Level 2 investments. | |||||||||||||||||||||||||
Fixed Income Securities of Registered Investment Companies | |||||||||||||||||||||||||
Investments in fixed income securities of registered investment companies are based upon the quoted redemption value of shares in the fund owned by the plan at year end. The shares of the fund are not available in an exchange or active market; however, the fair value is determined based on the underlying investments in the fund as traded in an exchange and active market and are classified as Level 2 investments. | |||||||||||||||||||||||||
Insurance Contract | |||||||||||||||||||||||||
Investments in the foreign pension plan insurance contract are valued at reported cash surrender value of the contract at year end. Cash surrender value is determined based on unobservable inputs, which are contractually determined, regarding returns, fees, and the present value of the future cash flows of the contract. The contract is classified as a Level 3 investment. | |||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||
The foreign pension plan's investment in real estate consists of an investment in a property fund. The fund's underlying investments consist of real property, which are valued using unobservable inputs. The property fund is classified as a Level 3 investment. | |||||||||||||||||||||||||
As of December 31, 2013 and December 31, 2012, the U.S. and foreign plans' investments measured at fair value on a recurring basis were as follows: | |||||||||||||||||||||||||
Fair Value Measurements at December 31, 2013 | |||||||||||||||||||||||||
Fair Value as of | Using Fair Value Hierarchy | ||||||||||||||||||||||||
U.S. Pension Assets | 31-Dec-13 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Cash and cash equivalents | $ | 825 | $ | 825 | $ | 0 | $ | 0 | |||||||||||||||||
Large capitalization common stock | 14,801 | 14,801 | 0 | 0 | |||||||||||||||||||||
Large capitalization registered investment companies | 6,820 | 6,820 | 0 | 0 | |||||||||||||||||||||
Small capitalization common stock | 771 | 771 | 0 | 0 | |||||||||||||||||||||
Small capitalization registered investment companies | 2,384 | 2,384 | 0 | 0 | |||||||||||||||||||||
International developed and emerging markets registered | |||||||||||||||||||||||||
investment companies | 5,895 | 5,895 | 0 | 0 | |||||||||||||||||||||
International developed and emerging markets common stock | 2,929 | 2,929 | 0 | 0 | |||||||||||||||||||||
Fixed income corporate securities | 10,144 | 10,144 | 0 | 0 | |||||||||||||||||||||
Fixed income registered investment companies | 4,486 | 4,486 | 0 | 0 | |||||||||||||||||||||
U.S. and foreign government fixed income securities | 192 | 192 | 0 | 0 | |||||||||||||||||||||
Pooled separate accounts | 1,403 | 0 | 1,403 | 0 | |||||||||||||||||||||
Total U.S. pension plan assets | $ | 50,650 | $ | 49,247 | $ | 1,403 | $ | 0 | |||||||||||||||||
Foreign Pension Assets | |||||||||||||||||||||||||
Cash and cash equivalents | $ | 5 | $ | 5 | $ | 0 | $ | 0 | |||||||||||||||||
Insurance contract (underlying notional investments in | |||||||||||||||||||||||||
debt and equity securities) | 57,175 | 0 | 0 | 57,175 | |||||||||||||||||||||
Diversified equity securities - registered investment companies | 6,597 | 0 | 6,597 | 0 | |||||||||||||||||||||
Fixed income registered investment companies | 4,448 | 0 | 4,448 | 0 | |||||||||||||||||||||
Real estate registered investment companies | 434 | 0 | 0 | 434 | |||||||||||||||||||||
Total foreign pension assets | $ | 68,659 | $ | 5 | $ | 11,045 | $ | 57,609 | |||||||||||||||||
Total pension assets at fair value | $ | 119,309 | $ | 49,252 | $ | 12,448 | $ | 57,609 | |||||||||||||||||
Fair Value Measurements at December 31, 2012 | |||||||||||||||||||||||||
Fair Value as of | Using Fair Value Hierarchy | ||||||||||||||||||||||||
U.S. Pension Assets | 31-Dec-12 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Cash and cash equivalents | $ | 905 | $ | 905 | $ | 0 | $ | 0 | |||||||||||||||||
Large capitalization common stock | 12,195 | 12,195 | 0 | 0 | |||||||||||||||||||||
Large capitalization registered investment companies | 6,551 | 6,551 | 0 | 0 | |||||||||||||||||||||
Small capitalization common stock | 539 | 539 | 0 | 0 | |||||||||||||||||||||
Small capitalization registered investment companies | 1,910 | 1,910 | 0 | 0 | |||||||||||||||||||||
International developed and emerging markets registered | |||||||||||||||||||||||||
investment companies | 3,107 | 3,107 | 0 | 0 | |||||||||||||||||||||
International developed and emerging markets common stock | 2,527 | 2,527 | 0 | 0 | |||||||||||||||||||||
Fixed income corporate securities | 10,297 | 10,297 | 0 | 0 | |||||||||||||||||||||
Fixed income registered investment companies | 6,483 | 6,483 | 0 | 0 | |||||||||||||||||||||
U.S. and foreign government fixed income securities | 12 | 12 | 0 | 0 | |||||||||||||||||||||
Pooled separate accounts | 1,465 | 0 | 1,465 | 0 | |||||||||||||||||||||
Total U.S. pension plan assets | $ | 45,991 | $ | 44,526 | $ | 1,465 | $ | 0 | |||||||||||||||||
Foreign Pension Assets | |||||||||||||||||||||||||
Cash and cash equivalents | $ | 96 | $ | 96 | $ | 0 | $ | 0 | |||||||||||||||||
Insurance contract (underlying notional investments in | |||||||||||||||||||||||||
debt and equity securities) | 51,146 | 0 | 0 | 51,146 | |||||||||||||||||||||
Diversified equity securities - registered investment companies | 5,072 | 0 | 5,072 | 0 | |||||||||||||||||||||
Fixed income registered investment companies | 4,207 | 0 | 4,207 | 0 | |||||||||||||||||||||
Real estate registered investment companies | 388 | 0 | 0 | 388 | |||||||||||||||||||||
Total foreign pension assets | $ | 60,909 | $ | 96 | $ | 9,279 | $ | 51,534 | |||||||||||||||||
Total pension assets at fair value | $ | 106,900 | $ | 44,622 | $ | 10,744 | $ | 51,534 | |||||||||||||||||
Changes in the fair value of the foreign plans' Level 3 investments during the years ended December 31, 2013 and December 31, 2012 were as follows: | |||||||||||||||||||||||||
Insurance | Real Estate | ||||||||||||||||||||||||
Contract | Fund | Total | |||||||||||||||||||||||
Balance at December 31, 2011 | $ | 46,797 | $ | 363 | $ | 47,160 | |||||||||||||||||||
Purchases | 2,997 | 0 | 2,997 | ||||||||||||||||||||||
Settlements | -1,466 | 0 | -1,466 | ||||||||||||||||||||||
Unrealized gains | 1,854 | 10 | 1,864 | ||||||||||||||||||||||
Currency translation adjustment | 964 | 15 | 979 | ||||||||||||||||||||||
Balance at December 31, 2012 | 51,146 | 388 | 51,534 | ||||||||||||||||||||||
Purchases | 3,182 | 0 | 3,182 | ||||||||||||||||||||||
Settlements | -1,607 | 0 | -1,607 | ||||||||||||||||||||||
Unrealized gains | 2,061 | 36 | 2,097 | ||||||||||||||||||||||
Currency translation adjustment | 2,393 | 10 | 2,403 | ||||||||||||||||||||||
Balance at December 31, 2013 | $ | 57,175 | $ | 434 | $ | 57,609 | |||||||||||||||||||
U.S. pension assets include Company common stock in the amounts of $771 (1% of total U.S. plan assets) and $539 (1% of total U.S. plan assets) at December 31, 2013 and December 31, 2012, respectively. | |||||||||||||||||||||||||
During 2013, it was discovered that the Company's subsidiary in the United Kingdom did not appropriately amend a trust for a legacy change in its pension scheme, as it related to a past retirement age equalization law. Given the lack of an official deed to the pension trust, the effective date of the change to the subsidiary's pension scheme will differ from the Company's historical beliefs. The Company is currently assessing the impact of such adjustment but, at December 31, 2013, cannot accurately estimate a potential exposure. | |||||||||||||||||||||||||
Cash Flows | |||||||||||||||||||||||||
Contributions | |||||||||||||||||||||||||
The Company expects to make minimum cash contributions of $6,172 to its pension plans ($1,989 Domestic and $4,183 Foreign) and $607 to its other postretirement benefit plan in 2014. | |||||||||||||||||||||||||
Estimated Future Benefit Payments | |||||||||||||||||||||||||
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: | |||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
Pension Benefits | Postretirement | ||||||||||||||||||||||||
Foreign | Domestic | Total | Benefits | ||||||||||||||||||||||
2014 | $ | 1,968 | $ | 4,872 | $ | 6,840 | $ | 607 | |||||||||||||||||
2015 | 1,901 | 4,548 | 6,449 | 565 | |||||||||||||||||||||
2016 | 2,118 | 4,509 | 6,627 | 544 | |||||||||||||||||||||
2017 | 2,287 | 4,408 | 6,695 | 528 | |||||||||||||||||||||
2018 | 2,483 | 4,396 | 6,879 | 492 | |||||||||||||||||||||
2019 and beyond | 17,822 | 22,096 | 39,918 | 2,043 | |||||||||||||||||||||
The Company maintains a plan under which supplemental retirement benefits are provided to certain officers. Benefits payable under the plan are based on a combination of years of service and existing postretirement benefits. Included in total pension costs are charges of $811, $700 and $628 in 2013, 2012 and 2011, respectively, representing the annual accrued benefits under this plan. | |||||||||||||||||||||||||
Defined Contribution Plan | |||||||||||||||||||||||||
The Company has a 401(k) plan with an employer match covering substantially all domestic employees. The plan allows for and the Company has paid a nonelective contribution on behalf of participants who have completed one year of service equal to 3% of the eligible participants' compensation in the form of Company common stock. Total Company contributions were $2,027, $1,703 and $1,624 for 2013, 2012 and 2011, respectively. |
Other_NonCurrent_Liabilities
Other Non-Current Liabilities | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Other Non-Current Liabilities [Abstract] | ' | ||||||||
Other Non-Current Liabilities [Text Block] | ' | ||||||||
Note 17 – Other Non-Current Liabilities | |||||||||
Other non-current liabilities comprise: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Restricted insurance settlement | $ | 25,462 | $ | 26,398 | |||||
Uncertain tax positions (includes interest and penalties) | 15,885 | 16,328 | |||||||
Acquisition-related consideration | 0 | 4,651 | |||||||
Deferred and other long-term compensation | 5,646 | 4,550 | |||||||
Other | 545 | 940 | |||||||
Total | $ | 47,538 | $ | 52,867 | |||||
See also Notes 13 and 22 of Notes to Consolidated Financial Statements. | |||||||||
Equity_and_Noncontrolling_Inte
Equity and Noncontrolling Interest | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Equity [Abstract] | ' | |||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | |||||||||||||||
Note 18 – Equity and Accumulated Other Comprehensive Loss | ||||||||||||||||
The Company has 30,000,000 shares of common stock authorized, with a par value of $1, and 13,196,140 shares issued as of December 31, 2013. | ||||||||||||||||
Holders of record of the Company's common stock for a period of less than 36 consecutive calendar months or less are entitled to one vote per share of common stock. Holders of record of the Company's common stock for a period greater than 36 consecutive calendar months are entitled to 10 votes per share of common stock. | ||||||||||||||||
The Company is authorized to issue 10,000,000 shares of preferred stock, $1 par value, subject to approval by the Board of Directors. The Board of Directors 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, 2013, no preferred stock had been issued. | ||||||||||||||||
The Company filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (the “SEC”) in 2009. The registration statement was declared effective on January 29, 2010 and permitted the Company to offer and sell from time to time in one or more public offerings up to $100 million aggregate dollar amount of its securities, including shares of preferred stock (either separately or represented by depositary shares), common stock, debt securities and warrants to purchase the Company's debt or equity securities, as well as units that include any of these securities, on terms, in each case, established at the time of the offering. The registration statement provided the Company with the ability to issue registered debt or equity securities on an accelerated basis. The Company sold 1,265,000 shares of its common stock during the second quarter of 2011. The Company received gross proceeds of $51,233 which were used to repay a portion of the Company's revolving credit line during the second quarter of 2011. The shelf registration expired during 2013. | ||||||||||||||||
The following table shows the reclassifications from and resulting balances of accumulated other comprehensive loss (“AOCI”) for the years ended December 31, 2013, December 31, 2012 and December 31, 2011: | ||||||||||||||||
Unrealized | ||||||||||||||||
Currency | Defined | Change in | gain (loss) in | |||||||||||||
translation | benefit | fair value of | available-for- | |||||||||||||
adjustments | pension plans | derivatives | sale securities | Total | ||||||||||||
Balance at December 31, 2010 | $ | 13,368 | $ | -26,448 | $ | -667 | $ | 994 | $ | -12,753 | ||||||
Other comprehensive (loss) income before reclassifications | -8,659 | -12,783 | -52 | 1,235 | -20,259 | |||||||||||
Amounts reclassified from AOCI | 0 | 1,976 | 660 | -1,444 | 1,192 | |||||||||||
Related tax amounts | 0 | 2,995 | -213 | 71 | 2,853 | |||||||||||
Balance at December 31, 2011 | 4,709 | -34,260 | -272 | 856 | -28,967 | |||||||||||
Other comprehensive (loss) income before reclassifications | -1,373 | -20,045 | 26 | 2,181 | -19,211 | |||||||||||
Amounts reclassified from AOCI | 0 | 2,875 | 392 | -868 | 2,399 | |||||||||||
Related tax amounts | 0 | 4,516 | -146 | -446 | 3,924 | |||||||||||
Balance at December 31, 2012 | 3,336 | -46,914 | 0 | 1,723 | -41,855 | |||||||||||
Other comprehensive income (loss) before reclassifications | -2,184 | 9,876 | 0 | 2,543 | 10,235 | |||||||||||
Amounts reclassified from AOCI | 0 | 4,177 | 0 | -2,758 | 1,419 | |||||||||||
Related tax amounts | 0 | -4,572 | 0 | 73 | -4,499 | |||||||||||
Balance at December 31, 2013 | $ | 1,152 | $ | -37,433 | $ | 0 | $ | 1,581 | $ | -34,700 | ||||||
Approximately 30% and 70% of the amounts reclassified from accumulated other comprehensive loss to the Consolidated Statement of Income for defined benefit retirement plans during the years ended December 31, 2013, December 31, 2012 and December 31, 2011 were recorded in cost of goods sold and SG&A, respectively. See Note 16 of Notes to Consolidated Financial Statements for further information. All reclassifications were recorded in interest expense for changes in fair value of derivatives and, also, reclassifications related to unrealized gain (loss) in available-for-sale securities primarily relate to the Company's equity interest in a captive insurance company and, therefore, are recorded in equity in net income of associated companies. The amounts reported on the Consolidated Statement of Changes in Equity in other comprehensive income related to the Company's non-controlling interests consist of currency translation adjustments. |
Business_Acquisitions
Business Acquisitions | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Business Combinations [Abstract] | ' | |||||||||||
Business Combination Disclosure [Text Block] | ' | |||||||||||
Note 19 – Business Acquisitions | ||||||||||||
In May 2013, the Company acquired a business that primarily related to tin plating for its North American reportable operating segment for net consideration of approximately $1,831. The Company allocated the purchase price to $830 of intangible assets, comprised of formulations, to be amortized over 10 years; a non-competition agreement, to be amortized over 4 years; and a customer list, to be amortized over 10 years. In addition, the Company recorded $277 of goodwill, all of which will be tax deductible. The remaining purchase price was allocated between the acquisition date fair value of inventory purchased of $454 and fixed assets purchased of $270. | ||||||||||||
In January 2013, the Company acquired a chemical milling maskants distribution network for net consideration of approximately $647, which was assigned to the North American reportable operating segment. The Company also assumed an additional $100 hold-back of consideration for potential indemnity obligations, which was paid to the former shareholders during January 2014. The acquired intangible was allocated to the Company's customer lists and rights to sell intangible assets and will be amortized over 5 years. | ||||||||||||
In July 2012, the Company acquired NP Coil Dexter Industries, S.r.l. for approximately $2,748, and assumed short-term and long-term debt of approximately $1,186 and $854, respectively. NP Coil Dexter is a manufacturer and supplier of metal surface treatment products. The Company allocated the purchase price to $3,825 of intangible assets, comprised of trademarks and formulations, to be amortized over 10 years; two customer lists to be amortized over 8 and 4 years, respectively; and a non-competition agreement to be amortized over 5 years. In addition, the Company recorded $1,786 of goodwill, none of which will be tax deductible and was assigned to the EMEA reportable operating segment. Liabilities assumed included a hold-back of consideration to be paid to the former shareholders at 18 months from the acquisition date. During the fourth quarter of 2012, the Company recorded an increase to other income of approximately $1,033 on its Consolidated Statement of Income related to a change in the fair value of this hold-back of consideration liability. | ||||||||||||
In October 2011, the Company acquired G.W. Smith & Sons, Inc. for approximately $14,518. G.W. Smith manufactures and distributes high quality die casting lubricants, and also distributes metalworking fluids. The Company allocated the purchase price to $6,260 of intangible assets, comprised of trade names and formulations, to be amortized over 15 years; a trademark to be amortized over 5 years; a non-competition agreement to be amortized over 5 years; and customer lists to be amortized over 16 years. In addition, the Company recorded $1,120 of goodwill, all of which will be tax deductible and was assigned to the North American reportable operating segment. Liabilities assumed included a hold-back of consideration for potential indemnity obligations, which was settled during 2012 with a payment of approximately $1,000 to the former shareholder. | ||||||||||||
In July 2011, the Company acquired the remaining 60% ownership interest in Tecniquimia Mexicana, S.A. de C.V., the Company's Mexican equity affiliate, for approximately $10,500. As part of the acquisition, the Company recorded a one-time increase to other income of approximately $2,718 to revalue the previously held ownership interest in Tecniquimia to its fair value. The acquisition of Tecniquimia allowed the Company to further capitalize on the growing Mexican market. The Company allocated the purchase price to $3,556 of intangible assets, comprised of trade names and trademarks, to be amortized over 5 years; and customer lists, to be amortized over 20 years. In addition, the Company recorded $6,773 of goodwill, none of which will be tax deductible, and was assigned to the North American reportable operating segment. Liabilities assumed included a hold-back of consideration for potential indemnity obligations, which was paid to the former shareholders during 2012 with a payment of approximately $2,000. | ||||||||||||
In December 2010, the Company completed the acquisition of Summit Lubricants, Inc., which manufactures and distributes specialty greases and lubricants, for approximately $29,116, subject to certain post-closing adjustments. During 2011, the Company paid an additional $717 to finalize the post-closing adjustments and recorded non-cash adjustments to fixed assets and goodwill to finalize its valuation of the assets acquired and liabilities assumed at the acquisition date. The Company allocated the purchase price to $17,100 of intangible assets, comprised of formulations, to be amortized over 15 years; customer lists, to be amortized over 20 years; a non-competition agreement, to be amortized over 5 years; and a trademark, which was assigned an indefinite life. In addition, the Company recorded $3,423 of goodwill, all of which will be tax deductible, and was assigned to the North American reportable operating segment. Liabilities assumed included an earnout to be paid to the former shareholders if certain earnings targets are met by the end of 2013, which is expected to be settled during 2014. During 2013, 2012 and 2011, the Company recorded net increases to other income of approximately $497, $1,737 and $595, respectively, in its Consolidated Statement of Income related to changes in the Company's estimate of the fair value of the contingent consideration liability. | ||||||||||||
The following tables show the allocation of the purchase price of the assets and liabilities acquired during 2012 | ||||||||||||
NP Coil Dexter | ||||||||||||
2012 Acquisition | Industries, S.r.l. | |||||||||||
Current assets | $ | 5,536 | ||||||||||
Property, plant & equipment | 1,211 | |||||||||||
Intangibles | 3,825 | |||||||||||
Goodwill | 1,786 | |||||||||||
Other long-term assets | 783 | |||||||||||
Total assets purchased | 13,141 | |||||||||||
Short-term debt | -1,186 | |||||||||||
Other current liabilities | -6,168 | |||||||||||
Long-term debt | -854 | |||||||||||
Other long-term liabilities | -1,258 | |||||||||||
Present value of a hold-back liability | -927 | |||||||||||
Total liabilities assumed | -10,393 | |||||||||||
Cash paid for an acquisition | $ | 2,748 | ||||||||||
Quaker | GW Smith | |||||||||||
2011 Acquisitions | Tecniquimia | & Sons, Inc. | Total | |||||||||
Current assets | $ | 8,946 | $ | 6,138 | $ | 15,084 | ||||||
Property, plant and equipment | 4,308 | 2,869 | 7,177 | |||||||||
Intangibles | 3,556 | 6,260 | 9,816 | |||||||||
Goodwill | 6,773 | 1,120 | 7,893 | |||||||||
Other long-term assets | 1,355 | 1 | 1,356 | |||||||||
Total assets purchased | 24,938 | 16,388 | 41,326 | |||||||||
Current liabilities | -2,224 | -1,001 | -3,225 | |||||||||
Long-term liabilities | -6,869 | 0 | -6,869 | |||||||||
Present value of a hold-back liability | -1,754 | -869 | -2,623 | |||||||||
Total liabilities assumed | -10,847 | -1,870 | -12,717 | |||||||||
Additional minimum pension liability | 987 | 0 | 987 | |||||||||
Total equity assumed | 987 | 0 | 987 | |||||||||
Fair value of previously held equity interest | -4,578 | 0 | -4,578 | |||||||||
Cash paid for acquisitions | $ | 10,500 | $ | 14,518 | $ | 25,018 | ||||||
Included in the 2012 acquisition of NP Coil Dexter was approximately $113 of cash acquired, and, also, in the 2011 acquisitions of Tecniquimia Mexicana, S.A. de C.V. and G.W. Smith and Sons, Inc., cash acquired was approximately $236 and $22, respectively. | ||||||||||||
Certain pro forma and other disclosures have not been provided as of December 31, 2013 for the 2013, 2012 and 2011 acquisitions because the effects were not material. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||
Note 20 – Fair Value Measures | |||||||||||||
The Company values company-owned life insurance policies, various deferred compensation assets and liabilities, acquisition-related consideration and an obligation related to a non-competition agreement at fair value. The Company's assets and liabilities subject to fair value measurement are as follows: | |||||||||||||
Fair Value Measurements at December 31, 2013 | |||||||||||||
Fair Value | Using Fair Value Hierarchy | ||||||||||||
as of | |||||||||||||
Assets | 31-Dec-13 | Level 1 | Level 2 | Level 3 | |||||||||
Company-owned life insurance | $ | 1,885 | $ | 0 | $ | 1,885 | $ | 0 | |||||
Company-owned life insurance - Deferred compensation assets | 409 | 0 | 409 | 0 | |||||||||
Other deferred compensation assets | |||||||||||||
Large capitalization registered investment companies | 74 | 74 | 0 | 0 | |||||||||
Mid capitalization registered investment companies | 6 | 6 | 0 | 0 | |||||||||
Small capitalization registered investment companies | 13 | 13 | 0 | 0 | |||||||||
International developed and emerging markets registered investment | |||||||||||||
companies | 40 | 40 | 0 | 0 | |||||||||
Fixed income registered investment companies | 7 | 7 | 0 | 0 | |||||||||
Total | $ | 2,434 | $ | 140 | $ | 2,294 | $ | 0 | |||||
Fair Value Measurements at December 31, 2013 | |||||||||||||
Fair Value | Using Fair Value Hierarchy | ||||||||||||
as of | |||||||||||||
Liabilities | 31-Dec-13 | Level 1 | Level 2 | Level 3 | |||||||||
Deferred compensation liabilities | |||||||||||||
Large capitalization registered investment companies | $ | 405 | $ | 405 | $ | 0 | $ | 0 | |||||
Mid capitalization registered investment companies | 109 | 109 | 0 | 0 | |||||||||
Small capitalization registered investment companies | 95 | 95 | 0 | 0 | |||||||||
International developed and emerging markets registered investment | |||||||||||||
companies | 205 | 205 | 0 | 0 | |||||||||
Fixed income registered investment companies | 43 | 43 | 0 | 0 | |||||||||
Fixed general account | 167 | 0 | 167 | 0 | |||||||||
Acquisition-related consideration | 4,876 | 0 | 0 | 4,876 | |||||||||
Total | $ | 5,900 | $ | 857 | $ | 167 | $ | 4,876 | |||||
Fair Value Measurements at December 31, 2012 | |||||||||||||
Fair Value | Using Fair Value Hierarchy | ||||||||||||
as of | |||||||||||||
Assets | 31-Dec-12 | Level 1 | Level 2 | Level 3 | |||||||||
Company-owned life insurance | $ | 1,653 | $ | 0 | $ | 1,653 | $ | 0 | |||||
Company-owned life insurance - Deferred compensation assets | 437 | 0 | 437 | 0 | |||||||||
Other deferred compensation assets | |||||||||||||
Large capitalization registered investment companies | 62 | 62 | 0 | 0 | |||||||||
Mid capitalization registered investment companies | 6 | 6 | 0 | 0 | |||||||||
Small capitalization registered investment companies | 9 | 9 | 0 | 0 | |||||||||
International developed and emerging markets registered investment | |||||||||||||
companies | 37 | 37 | 0 | 0 | |||||||||
Fixed income registered investment companies | 8 | 8 | 0 | 0 | |||||||||
Total | $ | 2,212 | $ | 122 | $ | 2,090 | $ | 0 | |||||
Fair Value Measurements at December 31, 2012 | |||||||||||||
Fair Value | Using Fair Value Hierarchy | ||||||||||||
as of | |||||||||||||
Liabilities | 31-Dec-12 | Level 1 | Level 2 | Level 3 | |||||||||
Deferred compensation liabilities | |||||||||||||
Large capitalization registered investment companies | $ | 336 | $ | 336 | $ | 0 | $ | 0 | |||||
Mid capitalization registered investment companies | 88 | 88 | 0 | 0 | |||||||||
Small capitalization registered investment companies | 72 | 72 | 0 | 0 | |||||||||
International developed and emerging markets registered investment | |||||||||||||
companies | 187 | 187 | 0 | 0 | |||||||||
Fixed income registered investment companies | 48 | 48 | 0 | 0 | |||||||||
Fixed general account | 173 | 0 | 173 | 0 | |||||||||
Acquisition-related consideration | 4,901 | 0 | 0 | 4,901 | |||||||||
Total | $ | 5,805 | $ | 731 | $ | 173 | $ | 4,901 | |||||
The fair values of Company-owned life insurance (“COLI”) and COLI deferred compensation assets are based on quotes for like instruments with similar credit ratings and terms. The fair values of other deferred compensation assets and liabilities are based on quoted prices in active markets. The fair value of the Summit earnout has been based on unobservable inputs and is classified as Level 3. Significant inputs and assumptions were management's estimate of the probability of the earnout ultimately being met/paid and the discount rate used to present value the liability. The fair value of the obligation related to a non-competition agreement is also based on unobservable inputs and is classified as Level 3. The significant inputs and assumptions for the obligation related to the non-competition agreement is management's estimate of the discount rate used to present value the liability. A significant change in any Level 3 assumption in isolation would result in increases or decreases to the fair value measurements of the acquisition-related consideration. | |||||||||||||
Changes in the fair value of the Level 3 liabilities during the year ended December 31, 2013 were as follows: | |||||||||||||
Non-competition | |||||||||||||
Earnout | Agreement | ||||||||||||
Summit | Obligation | Total | |||||||||||
Balance at December 31, 2012 | $ | 4,497 | $ | 404 | $ | 4,901 | |||||||
Interest accretion | 697 | 25 | 722 | ||||||||||
Change in fair value estimate | -497 | 0 | -497 | ||||||||||
Payments | 0 | -250 | -250 | ||||||||||
Balance at December 31, 2013 | $ | 4,697 | $ | 179 | $ | 4,876 | |||||||
During the first quarter of 2013, the Summit earnout liability became current and was reclassified from other non-current liabilities to other current liabilities on the Company's Consolidated Balance Sheet, as the Company expects to settle the obligation within the next year. | |||||||||||||
Quantitative information about the Company's Level 3 fair value measurements at December 31, 2013 were as follows: | |||||||||||||
Fair value at December 31, 2013 | Valuation technique | Unobservable input | Input value | ||||||||||
Summit earnout | 4,697 | Discounted cash flow | Discount rate | 14.50% | |||||||||
Non-competition agreement obligation | 179 | Discounted cash flow | Discount rate | 14.00% | |||||||||
At December 31, 2013, the Summit earnout liability was formulated based on the former acquisition's actual performance and is management's estimate of the likely payout under the earnout criteria. Prior to December 31, 2013, the determination of the fair value of the Summit earnout was based on the weighted average probability of the outcome of different payout scenarios. The probabilities applied to the payout scenarios prior to the fourth quarter of 2013 ranged from 15% to 70%, depending on the Company's estimate of the likelihood of each payout scenario. |
Hedging_Activities
Hedging Activities | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
General Discussion Of Derivative Instruments And Hedging Activities [Abstract] | ' | |||||||||||
Derivative Instruments And Hedging Activities Disclosure [Text Block] | ' | |||||||||||
Note 21 – Hedging Activities | ||||||||||||
The Company has utilized interest rate swaps to mitigate the impact of changes in interest rates by converting a portion of the Company's variable interest rate debt to fixed interest rate debt. The interest rate swaps had a combined notional amount of $15,000 during 2012 until their maturity, which occurred during the third quarter of 2012. The Company had no derivatives designated as cash flow hedges as of December 31, 2012 and did not utilize any during the year ended December 31, 2013. | ||||||||||||
Information about the Company's interest rate derivatives is as follows: | ||||||||||||
Cash Flow Hedges | ||||||||||||
Interest Rate Swaps | ||||||||||||
For the Years Ended | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Amount of Gain Recognized in | ||||||||||||
Accumulated OCI on Derivative (Effective Portion) | $ | 0 | $ | 272 | $ | 395 | ||||||
Amount and Location of Loss Reclassified from | ||||||||||||
Accumulated OCI into Income (Effective Portion) | Interest Expense | $ | 0 | $ | -392 | $ | -660 | |||||
Amount and Location of Loss Recognized in Income on Derivative | ||||||||||||
(Ineffective Portion and Amount Excluded from Effectiveness Testing) | Other Income | $ | 0 | $ | 0 | $ | 0 |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||
Commitments And Contingencies Disclosure [Text Block] | ' | |||||
Note 22 – Commitments and Contingencies | ||||||
In April of 1992, the Company identified certain soil and groundwater contamination at AC Products, Inc. (“ACP”), a wholly owned subsidiary. In voluntary coordination with the Santa Ana California Regional Water Quality Board (“SACRWQB”), ACP has been remediating the contamination, the principal contaminant of which is perchloroethylene (“PERC”). On or about December 18, 2004, the Orange County Water District (“OCWD”) filed a civil complaint in Superior Court in Orange County, California against ACP and other parties potentially responsible for groundwater contamination. OCWD was seeking to recover compensatory and other damages related to the investigation and remediation of the contamination in the groundwater. Effective October 17, 2007, ACP and OCWD settled all claims related to this litigation. Pursuant to the settlement agreement with OCWD, ACP agreed to pay $2,000. In addition to the $2,000 payment, ACP agreed to operate the two existing groundwater treatment systems associated with its extraction wells P-2 and P-3 so as to hydraulically contain groundwater contamination emanating from ACP's site until such time as the concentrations of PERC are below the current Federal maximum contaminant level for four consecutive quarterly sampling events. On September 11, 2012, ACP received a letter from the SACRWQB advising that no further action is required to remediate the soil contamination on site. As of December 31, 2013, the Company believes that the range of potential-known liabilities associated with the ACP water remediation program is approximately $395 to $800, for which the Company has sufficient reserves. | ||||||
The low and high ends of the range are based on the length of operation of an offsite extraction well as determined by groundwater modeling with planned higher maintenance costs in later years if a longer treatment period is required. Costs of operation include the operation and maintenance of the extraction well, groundwater monitoring and program management. The duration of the well operation was estimated based on historical trends in concentrations in the monitoring well within the proximity of the applicable extraction well. Also factored into the model was the impact of water injected into the underground aquifer from a planned water treatment system to be installed by OCWD adjacent to P-2. Based on the modeling, it is estimated that P-2 will operate for another nine months to two years. The Company is in the process of closing P-3. Operation and maintenance costs were based on historical expenditures and estimated inflation. As mentioned above, a significantly higher maintenance expense was factored into the range if the system operates for the longer period. | ||||||
The Company believes, although there can be no assurance regarding the outcome of other unrelated environmental matters, that it has made adequate accruals for costs associated with other environmental problems of which it is aware. Approximately $205 and $230 was accrued at December 31, 2013 and December 31, 2012, respectively, to provide for such anticipated future environmental assessments and remediation costs. | ||||||
An inactive subsidiary of the Company that was acquired in 1978 sold certain products containing asbestos, primarily on an installed basis, and is among the defendants in numerous lawsuits alleging injury due to exposure to asbestos. The subsidiary discontinued operations in 1991 and has no remaining assets other than the proceeds from insurance settlements received. To date, the overwhelming majority of these claims have been disposed of without payment and there have been no adverse judgments against the subsidiary. Based on a continued analysis of the existing and anticipated future claims against this subsidiary, it is currently projected that the subsidiary's total liability over the next 50 years for these claims is approximately $2,700 (excluding costs of defense). Although the Company has also been named as a defendant in certain of these cases, no claims have been actively pursued against the Company, and the Company has not contributed to the defense or settlement of any of these cases pursued against the subsidiary. These cases were handled by the subsidiary's primary and excess insurers who had agreed in 1997 to pay all defense costs and be responsible for all damages assessed against the subsidiary arising out of existing and future asbestos claims up to the aggregate limits of the policies. A significant portion of this primary insurance coverage was provided by an insurer that is now insolvent, and the other primary insurers have asserted that the aggregate limits of their policies have been exhausted. The subsidiary challenged the applicability of these limits to the claims being brought against the subsidiary. In response, two of the three carriers entered into separate settlement and release agreements with the subsidiary in late 2005 and early 2007 for $15,000 and $20,000, respectively. The proceeds of both settlements are restricted and can only be used to pay claims and costs of defense associated with the subsidiary's asbestos litigation. During the third quarter of 2007, the subsidiary and the remaining primary insurance carrier entered into a Claim Handling and Funding Agreement, under which the carrier will pay 27% of defense and indemnity costs incurred by or on behalf of the subsidiary in connection with asbestos bodily injury claims for a minimum of five years beginning July 1, 2007. The agreement continues until terminated and can only be terminated by either party by providing the other party with a minimum of two years prior written notice. As of December 31, 2013, no notice of termination has been given under this agreement. At the end of the term of the agreement, the subsidiary may choose to again pursue its claim against this insurer regarding the application of the policy limits. The Company also believes that, if the coverage issues under the primary policies with the remaining carrier are resolved adversely to the subsidiary and all settlement proceeds were used, the subsidiary may have limited additional coverage from a state guarantee fund established following the insolvency of one of the subsidiary's primary insurers. Nevertheless, liabilities in respect of claims may exceed the assets and coverage available to the subsidiary. | ||||||
If the subsidiary's assets and insurance coverage were to be exhausted, claimants of the subsidiary may actively pursue claims against the Company because of the parent-subsidiary relationship. Although asbestos litigation is particularly difficult to predict, especially with respect to claims that are currently not being actively pursued against the Company, the Company does not believe that such claims would have merit or that the Company would be held to have liability for any unsatisfied obligations of the subsidiary as a result of such claims. After evaluating the nature of the claims filed against the subsidiary and the small number of such claims that have resulted in any payment, the potential availability of additional insurance coverage at the subsidiary level, the additional availability of the Company's own insurance and the Company's strong defenses to claims that it should be held responsible for the subsidiary's obligations because of the parent-subsidiary relationship, the Company believes it is not probable that the Company will incur any material losses. The Company has been successful to date having claims naming it dismissed during initial proceedings. Since the Company may be in this early stage of litigation for some time, it is not possible to estimate additional losses or range of loss, if any. | ||||||
As initially disclosed in the Company's second quarter 2010 Form 10-Q, one of the Company's subsidiaries may have paid certain value-added-taxes (“VAT”) incorrectly and, in certain cases, may not have collected sufficient VAT from certain customers. The VAT rules and regulations at issue are complex, vary among the jurisdictions and can be contradictory, in particular as to how they relate to the subsidiary's products and to sales between jurisdictions. | ||||||
Since its inception, the subsidiary had been consistent in its VAT collection and remittance practices and had never been contacted by any tax authority relative to VAT. The subsidiary later determined that for certain products, a portion of the VAT was incorrectly paid and that the total VAT due exceeds the amount originally collected and remitted by the subsidiary. In response, the subsidiary modified its VAT invoicing and payment procedures to eliminate or mitigate future exposure. In 2010, three jurisdictions contacted the subsidiary and, since then, the subsidiary has either participated in an amnesty program or entered into a settlement whereby it paid a reduced portion of the amounts owed in resolution of those jurisdictions' claims. In late 2013, an additional jurisdiction issued an assessment against the subsidiary for certain tax years. The subsidiary has filed an appeal of the assessment alleging certain errors by such jurisdiction related to the assessment. | ||||||
In analyzing the subsidiary's exposure, it is difficult to estimate both the probability and the amount of any potential liabilities due to a number of factors, including: the decrease in exposure over time due to applicable statutes of limitations and actions taken by the subsidiary, the joint liability of customers and suppliers for a portion of the VAT, the availability of a VAT refund for VAT incorrectly paid through an administrative process, any amounts which may have been or will be paid by customers, as well as the timing and structure of any tax amnesties or settlements. In addition, interest and penalties on any VAT due can be a multiple of the base tax. The subsidiary may contest any tax assessment administratively and/or judicially for an extended period of time, but may ultimately resolve its disputes through participation in tax amnesty programs, which are a common practice for settling tax disputes in the jurisdictions in question and which have historically occurred on a regular basis, resulting in significant reductions of interest and penalties. Also, the timing of payments and refunds of VAT may not be contemporaneous, and, if additional VAT is owed, it may not be fully recoverable from customers. As a result, this matter has the potential to have a material adverse impact on the Company's financial position, liquidity and capital resources and the results of operations. | ||||||
In 2010, the Company recorded a net charge of $4,132, which consisted of a net $3,901 charge related to two tax dispute settlements entered into by the subsidiary, as well as a net $231 charge representing management's best estimate based on the information available to it, including the factors noted above, of the amount that ultimately may be paid related to the other jurisdiction that has made inquiries. At December 31, 2013 and December 31, 2012, the Company had no remaining accrual, related to the 2010 charges, for payments to be made under the tax dispute settlements entered into by the subsidiary, noted above. In the fourth quarter of 2013, the Company recorded a net charge of $796, representing the Company's best estimate of the amount that ultimately may be paid related to the 2013 assessment referenced above. | ||||||
The charges taken by the Company in 2010 and in the fourth quarter of 2013 assume a successful recovery of the VAT incorrectly paid, as well as reductions in interest and penalties from anticipated future amnesty programs or settlements. On a similar basis, if all other potentially impacted jurisdictions were to initiate audits and issue assessments, the remaining exposure, net of refunds, could be from $0 to $7,200 with one jurisdiction representing approximately 78 percent of this additional exposure, assuming the continued availability of future amnesty programs or settlements to reduce the interest and penalties. If there are future assessments but no such future amnesty programs or settlements, the potential exposure could be higher. | ||||||
The Company is party to other litigation which management currently believes will not have a material adverse effect on the Company's results of operations, cash flows or financial condition. | ||||||
The Company leases certain manufacturing and office facilities and equipment under non-cancelable operating leases with various terms from 1 to 5 years expiring in 2018. Rent expense for 2013, 2012 and 2011 was $5,510, $5,189, and $5,282, respectively. | ||||||
The Company's minimum rental commitments under non-cancelable operating leases at December 31, 2013 for future years were approximately: | ||||||
2014 | $ | 4,991 | ||||
2015 | $ | 4,154 | ||||
2016 | $ | 3,507 | ||||
2017 | $ | 1,812 | ||||
2018 | $ | 5 | ||||
2019 and beyond | $ | 0 |
Quarterly_Results_unaudited
Quarterly Results (unaudited) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Quarterly Results (unaudited) [Abstract] | ' | |||||||||||||
Quarterly Results (unaudited) [Text Block] | ' | |||||||||||||
Note 23 – Quarterly Results (unaudited) | ||||||||||||||
First | Second | Third | Fourth | |||||||||||
Quarter (1) | Quarter (2) | Quarter (3) | Quarter (4) | |||||||||||
2013 | ||||||||||||||
Net sales | $ | 176,193 | $ | 184,846 | $ | 184,059 | $ | 184,297 | ||||||
Gross profit | 62,608 | 67,314 | 65,990 | 65,163 | ||||||||||
Operating income | 17,411 | 19,793 | 18,807 | 15,232 | ||||||||||
Net income attributable to Quaker Chemical Corporation | 13,619 | 16,083 | 12,551 | 14,086 | ||||||||||
Net income attributable to Quaker Chemical Corporation | ||||||||||||||
Common Shareholders - Basic | $ | 1.04 | $ | 1.22 | $ | 0.95 | $ | 1.07 | ||||||
Net income attributable to Quaker Chemical Corporation | ||||||||||||||
Common Shareholders - Diluted | $ | 1.04 | $ | 1.22 | $ | 0.95 | $ | 1.07 | ||||||
2012 | ||||||||||||||
Net sales | $ | 177,638 | $ | 176,797 | $ | 180,923 | $ | 172,868 | ||||||
Gross profit | 59,795 | 60,636 | 59,126 | 59,154 | ||||||||||
Operating income | 16,702 | 16,983 | 15,863 | 13,676 | ||||||||||
Net income attributable to Quaker Chemical Corporation | 12,365 | 11,108 | 10,925 | 13,007 | ||||||||||
Net income attributable to Quaker Chemical Corporation | ||||||||||||||
Common Shareholders - Basic | $ | 0.96 | $ | 0.86 | $ | 0.84 | $ | 0.99 | ||||||
Net income attributable to Quaker Chemical Corporation | ||||||||||||||
Common Shareholders - Diluted | $ | 0.95 | $ | 0.85 | $ | 0.83 | $ | 0.99 | ||||||
(1) Net income attributable to Quaker Chemical Corporation for the first quarter of 2013 and the first quarter of 2012 include earnings from the Company's equity interest in a captive insurance company of approximately $0.11 and $0.04 per diluted share, respectively. The first quarter of 2013 earnings from the Company's equity interest in a captive insurance company includes an out-of-period adjustment of approximately $1,038, primarily related to a reinsurance contract held by the captive insurance company. Net income attributable to Quaker Chemical Corporation in the first quarter of 2013 includes a devaluation charge related to the Company's 50% owned equity affiliate in Venezuela of $0.03 per diluted share. | ||||||||||||||
(2) Net income attributable to Quaker Chemical Corporation for the second quarter of 2013 and the second quarter of 2012 include earnings from the Company's equity interest in a captive insurance company of approximately $0.13 and $0.04 per diluted share, respectively. Net income attributable to Quaker Chemical Corporation in the second quarter of 2013 also includes earnings per diluted share of approximately $0.14 related to a mineral oil excise tax refund. Net income attributable to Quaker Chemical Corporation in the second quarter of 2013 includes a charge related to a change in the fair value of an acquisition-earnout liability of approximately $0.03 per diluted share and costs related to streamlining certain operations in the Company's South American segment of approximately $0.02 per diluted share. Net income attributable to Quaker Chemical Corporation for the second quarter of 2012 includes charges of approximately $0.06 per diluted share due to certain customer bankruptcies in the U.S. and approximately $0.03 per diluted share related to CFO transition costs. | ||||||||||||||
(3) Net income attributable to Quaker Chemical Corporation for the third quarter of 2013 and the third quarter of 2012 include earnings from the Company's equity interest in a captive insurance company of approximately $0.09 and $0.03 per diluted share, respectively. Net income attributable to Quaker Chemical Corporation for the third quarter of 2013 also includes costs of approximately $0.05 per diluted share related to streamlining certain operations in the Company's EMEA segment. | ||||||||||||||
(4) Net income attributable to Quaker Chemical Corporation for the fourth quarter of 2013 and the fourth quarter of 2012 include earnings from the Company's equity interest in a captive insurance company of approximately $0.08 and $0.03 per diluted share, respectively. Net income attributable to Quaker Chemical Corporation also includes earnings per diluted share of approximately $0.06 and $0.09 in the fourth quarters of 2013 and 2012, respectively, related to changes in the fair value of an acquisition-related earnout liability. In addition, net income attributable to Quaker Chemical Corporation for the fourth quarter of 2013 includes costs of approximately $0.01 per diluted share related to streamlining certain operations in the Company's EMEA segment and approximately $0.04 per diluted share related to a non-income tax contingency. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||
Consolidation, Policy [Policy Text Block] | ' | ||
All majority-owned subsidiaries are included in the Company's consolidated financial statements, with appropriate elimination of intercompany balances and transactions. | |||
Consolidation, Variable Interest Entity, Policy [Policy Text Block] | ' | ||
The Financial Accounting Standards Board's (“FASB's”) guidance regarding the consolidation of certain Variable Interest Entities (“VIEs”) generally requires that assets, liabilities and results of the activities of a VIE be consolidated into the financial statements of the enterprise that is considered the primary beneficiary. The consolidated financial statements include the accounts of the Company and all of its subsidiaries in which a controlling interest is maintained and would include any VIEs if the Company was the primary beneficiary pursuant to the provisions of the applicable guidance. | |||
Equity and Cost Method Investments, Policy [Policy Text Block] | ' | ||
Investments in associated companies (less than majority-owned and in which the Company has significant influence) are accounted for under the equity method. The Company's share of net income or losses in these investments in associated companies is included in the Consolidated Statement of Income. The Company periodically reviews these investments for impairments and, if necessary, would adjust these investments to their fair value when a decline in market value or other impairment indicators are deemed to be other than temporary. | |||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' | ||
Translation of foreign currency: Assets and liabilities of non-U.S. subsidiaries and associated companies are translated into U.S. Dollars at the respective rates of exchange prevailing at the end of the year. Income and expense accounts are translated at average exchange rates prevailing during the year. Translation adjustments resulting from this process are recorded directly in equity as accumulated other comprehensive income (loss) and will be included as income or expense only upon sale or liquidation of the underlying investment. All non-U.S. subsidiaries use their local currency as their functional currency. | |||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||
Cash and cash equivalents: The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. | |||
Inventory, Policy [Policy Text Block] | ' | ||
Inventories: Inventories are valued at the lower of cost or market value, and are valued using the first-in, first-out (“FIFO”) method. | |||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | ||
Long-lived assets: Property, plant and equipment are stated at cost. Depreciation is computed using the straight-line method on an individual asset basis over the following estimated useful lives: buildings and improvements, 10 to 45 years; and machinery and equipment, 1 to 15 years. The carrying value of long-lived assets is periodically evaluated whenever changes in circumstances or current events indicate the carrying amount of such assets may not be recoverable. An estimate of undiscounted cash flows produced by the asset, or the appropriate group of assets, is compared with the carrying value to determine whether an impairment exists. If necessary, the Company recognizes an impairment loss for the difference between the carrying amount of the assets and their estimated fair value. Fair value is based on current and anticipated future undiscounted cash flows. Upon sale or other dispositions of long-lived assets, the applicable amounts of asset cost and accumulated depreciation are removed from the accounts and the net amount, less proceeds from disposals, is recorded in income. Expenditures for renewals or improvements that increase the estimated useful life or capacity of the assets are capitalized, whereas expenditures for repairs and maintenance are expensed when incurred. | |||
Internal Use Software, Policy [Policy Text Block] | ' | ||
Capitalized software: The Company capitalizes certain costs incurred in connection with developing or obtaining software for internal use. These costs are amortized over a period of three to five years once the assets are ready for their intended use. | |||
Goodwill and Intangible Assets, Policy [Policy Text Block] | ' | ||
Goodwill and other intangible assets: The Company records goodwill, definite-lived intangible assets and indefinite-lived intangible assets at fair value at the date of acquisition. Goodwill and indefinite-lived intangible assets are not amortized, but tested for impairment at least annually. These tests will be performed more frequently if triggering events indicate potential impairment. Definite-lived intangible assets are amortized over their estimated useful lives, generally for periods ranging from 5 to 20 years. The Company continually evaluates the reasonableness of the useful lives of these assets, consistent with the discussion of long-lived assets, above. | |||
Revenue Recognition Accounting Policy, Gross and Net Revenue Disclosure [Policy Text Block] | ' | ||
Revenue recognition: The Company recognizes revenue in accordance with the terms of the underlying agreements, when title and risk of loss have been transferred, when collectability is reasonably assured, and when pricing is fixed or determinable. This generally occurs when products are shipped to customers or, for consignment-type arrangements, upon usage by the customer and when services are performed. License fees and royalties are included in other income when recognized in accordance with their agreed-upon terms, when performance obligations are satisfied, when the amount is fixed or determinable, and when collectability is reasonably assured. As part of the Company's chemical management services, certain third-party product sales to customers are managed by the Company. Where the Company acts as a principal, revenues are recognized on a gross reporting basis at the selling price negotiated with its customers. Where the Company acts as an agent, such revenue is recorded using net reporting as service revenue at the amount of the administrative fee earned by the Company for ordering the goods. | |||
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | ' | ||
Accounts receivable and allowance for doubtful accounts: Trade accounts receivable are recorded at the invoiced amount and generally do not bear interest. The allowance for doubtful accounts is the Company's best estimate of the amount of probable credit losses with its existing accounts receivable. Reserves for customers filing for bankruptcy protection are generally established at 75-100% of the amount owed at the filing date, dependent on the Company's evaluation of likely proceeds from the bankruptcy process. Large and/or financially distressed customers are generally reserved for on a specific review basis while a general reserve is established for other customers based on historical experience. The Company performs a formal review of its allowance for doubtful accounts quarterly. Account balances are charged off against the allowance when the Company feels it is probable the receivable will not be recovered. The Company does not have any off-balance-sheet credit exposure related to its customers. | |||
Research and Development Expense, Policy [Policy Text Block] | ' | ||
Research and development costs: Research and development costs are expensed as incurred and are included in SG&A. | |||
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' | ||
Concentration of credit risk: Financial instruments, which potentially subject the Company to a concentration of credit risk, principally consist of cash equivalents, short-term investments and trade receivables. The Company invests temporary and excess funds in money market securities and financial instruments having maturities typically within 90 days. The Company has not experienced losses from the aforementioned investments. | |||
Environmental Costs, Policy [Policy Text Block] | ' | ||
Environmental liabilities and expenditures: Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. If there is a range of estimated liability and no amount in that range is considered more probable than another, then the Company records the lowest amount in the range in accordance with generally accepted accounting principles. Accrued liabilities are exclusive of claims against third parties and are not discounted. Environmental costs and remediation costs are capitalized if the costs extend the life, increase the capacity or improve safety or efficiency of the property from the date acquired or constructed, and/or mitigate or prevent contamination in the future. | |||
Asset Retirement Obligations, Policy [Policy Text Block] | ' | ||
Asset retirement obligations: The Company follows the FASB's guidance regarding asset retirement obligations, which addresses the accounting and reporting for obligations associated with the retirement of tangible long-lived assets and the associated retirement costs. Also, the Company follows the FASB's guidance for conditional asset retirement obligations (“CARO”), which relates to legal obligations to perform an asset retirement activity in which the timing and (or) method of settlement are conditional on a future event that may or may not be within the control of the entity. In accordance with this guidance, the Company records a liability when there is enough information regarding the timing of the CARO to perform a probability-weighted discounted cash flow analysis. | |||
Pension and Other Postretirement Plans, Policy [Policy Text Block] | ' | ||
Pension and other postretirement benefits: The Company maintains various noncontributory retirement plans, the largest of which is in the U.S., covering substantially all of its employees in the U.S. and certain other countries. The plans of the Company's subsidiaries in The Netherlands, the United Kingdom and Mexico are subject to the provisions of FASB's guidance regarding employers' accounting for defined benefit pension plans. The plans of the remaining non-U.S. subsidiaries are, for the most part, either fully insured or integrated with the local governments' plans and are not subject to the provisions of the guidance. The guidance requires that employers recognize on a prospective basis the funded status of their defined benefit pension and other postretirement plans on their consolidated balance sheet and, also, recognize as a component of other comprehensive income, net of tax, the gains or losses and prior service costs or credits that arise during the period but are not recognized as components of net periodic benefit cost. | |||
The Company's U.S. pension plan year ends on November 30 and the measurement date is December 31. The measurement date for the Company's other postretirement benefits plan is December 31. | |||
The Company's pension investment policy is designed to ensure that pension assets are invested in a manner consistent with meeting the future benefit obligations of the pension plans and maintaining compliance with various laws and regulations including the Employee Retirement Income Security Act of 1974 (“ERISA”). The Company establishes strategic asset allocation percentage targets and appropriate benchmarks for significant asset classes with the aim of achieving a prudent balance between return and risk. The Company's investment horizon is generally long term, and, accordingly, the target asset allocations encompass a long-term perspective of capital markets, expected risk and return and perceived future economic conditions while also considering the profile of plan liabilities. To the extent feasible, the short-term investment portfolio is managed to immunize the short-term obligations, the intermediate portfolio duration is immunized to reduce the risk of volatility in intermediate plan distributions, and the total return portfolio is expected to maximize the long-term real growth of plan assets. The critical investment principles of diversification, assessment of risk and targeting the optimal expected returns for given levels of risk are applied. The Company's investment guidelines prohibit use of securities such as letter stock and other unregistered securities, commodities or commodity contracts, short sales, margin transactions, private placements (unless specifically addressed by addendum), or any derivatives, options or futures for the purpose of portfolio leveraging. | |||
The target asset allocation is reviewed periodically and is determined based on a long-term projection of capital market outcomes, inflation rates, fixed income yields, returns, volatilities and correlation relationships. The interaction between plan assets and benefit obligations is periodically studied to assist in establishing such strategic asset allocation targets. Asset performance is monitored with an overall expectation that plan assets will meet or exceed benchmark performance over rolling five-year periods. The Company's pension committee, as authorized by the Company's Board of Directors, has discretion to manage the assets within established asset allocation ranges approved by senior management of the Company. | |||
Comprehensive Income, Policy [Policy Text Block] | ' | ||
Comprehensive income (loss): The Company presents other comprehensive income (loss) in its Statement of Comprehensive Income. During 2013, the Company adopted the FASB's guidance regarding the disclosure of reclassifications from Accumulated Other Comprehensive Income (Loss) (“AOCI”). The guidance requires the disclosure of significant amounts reclassified from each component of AOCI, the related tax amounts and the income statement line items affected by the reclassifications, either parenthetically on the Consolidated Statement of Comprehensive Income or in the Notes to the Consolidated Financial Statements. The Company elected to present the information in the Notes to the Consolidated Financial Statements, and the adoption of this guidance did not have a material impact on the Company's results or financial condition. | |||
Income Tax, Policy [Policy Text Block] | ' | ||
Income taxes and uncertain tax positions: The provision for income taxes is determined using the asset and liability approach of accounting for income taxes. Under this approach, deferred taxes represent the future tax consequences expected to occur when the reported amounts of assets and liabilities are recovered or paid. The provision for income taxes represents income taxes paid or payable for the current year and the change in deferred taxes during the year. Deferred taxes result from differences between the financial and tax bases of the Company's assets and liabilities and are adjusted for changes in tax rates and tax laws when changes are enacted. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. | |||
Income Tax Uncertainties, Policy [Policy Text Block] | ' | ||
The FASB's guidance regarding accounting for uncertainty in income taxes prescribes the recognition threshold and measurement attributes for financial statement recognition and measurement of tax positions taken or expected to be taken on a tax return. The guidance further requires the determination of whether the benefits of tax positions will be more likely than not sustained upon audit based upon the technical merits of the tax position. For tax positions that are determined to be more likely than not sustained upon audit, a company recognizes the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement in the financial statements. For tax positions that are not determined to be more likely than not sustained upon audit, a company does not recognize any portion of the benefit in the financial statements. Additionally, the guidance provides for derecognition, classification, penalties and interest, accounting in interim periods, disclosure and transition. The guidance also requires that the amount of interest expense and income to be recognized related to uncertain tax positions be computed by applying the applicable statutory rate of interest to the difference between the tax position recognized, including timing differences, and the amount previously taken or expected to be taken in a tax return. The Company's continuing practice is to recognize interest and/or penalties related to income tax matters in income tax expense. | |||
During 2013, the Company adopted guidance that requires an entity to net its liability for unrecognized tax benefits against deferred tax assets related to net operating losses or other tax credit carryforwards that would apply if the uncertain tax position were settled for the presumed amount at the balance sheet date, which had an immaterial impact on the Company's current year results and financial condition. | |||
Derivatives, Policy [Policy Text Block] | ' | ||
Derivatives: The Company is exposed to the impact of changes in interest rates, foreign currency fluctuations, changes in commodity prices and credit risk. The Company is currently not using derivative instruments to mitigate the risks associated with foreign currency fluctuations, changes in commodity prices or credit risk, but has used derivative financial instruments primarily for purposes of hedging exposures to fluctuations in interest rates in the past. The Company recognized all derivatives on its balance sheet at fair value. For derivative instruments designated as cash flow hedges, the effective portion of any hedge would be reported in Accumulated Other Comprehensive Income (Loss) until it was cleared to earnings during the same period in which the hedged item affected earnings. The Company currently uses no derivative instruments designated as fair value hedges and has not entered into derivative contracts for trading or speculative purposes. | |||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | ||
Fair value measurements: The Company utilizes the FASB's guidance regarding fair value measurements, which establishes a common definition for fair value to be applied to guidance requiring use of fair value, establishes a framework for measuring fair value and expands disclosure about such fair value measurements. Specifically, the guidance utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: | |||
• | Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. | ||
• | Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. | ||
• | Level 3: Unobservable inputs that reflect the reporting entity's own assumptions. | ||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | ||
Stock-based compensation: The Company applies the FASB's guidance regarding share-based payments, which requires the recognition of the fair value of stock-based compensation as a component of expense. The Company has a long-term incentive program (“LTIP”) for key employees which provides for the granting of options to purchase stock at prices not less than its market value on the date of the grant. Most options become exercisable between one and three years after the date of the grant for a period of time determined by the Company, but not to exceed seven years from the date of grant. Common stock awards and Restricted Stock Units (“RSU”) issued under the LTIP program are subject only to time vesting over a three to five-year period. In addition, as part of the Company's Global Annual Incentive Plan (“GAIP”), nonvested shares may be issued to key employees, which generally vest over a two to five-year period. Based on historical experience, the Company has generally assumed a forfeiture rate of 13% on its nonvested stock awards. The Company will record additional expense if the actual forfeiture rate is lower than estimated, and will record a recovery of prior expense if the actual forfeiture is higher than estimated. | |||
Earnings Per Share, Policy [Policy Text Block] | ' | ||
Earnings per share: The Company follows FASB's guidance regarding the calculation of earnings per share (“EPS”) for nonvested stock awards with rights to non-forfeitable dividends. The guidance requires nonvested stock awards with rights to non-forfeitable dividends to be included as part of the basic weighted average share calculation under the two-class method. | |||
Segment Reporting, Policy [Policy Text Block] | ' | ||
Segments: The Company's reportable operating segments evidence the structure of the Company's internal organization, the method by which the Company's resources are allocated and the manner by which the Company assesses its performance. During 2013, certain internal shifts in the Company's management and changes to the structure of internally reported information occurred. The Company currently believes its structure, its resource allocation and its performance assessment are now more closely aligned with its four geographical regions: the North America region, the Europe, Middle East and Africa (“EMEA”) region, the Asia/Pacific region and the South America region. Therefore, the Company changed its reportable operating segments from those categorized by product nature to those organized by geography. All prior period information has been recast to reflect these four regions as the Company's new reportable operating segments. | |||
Reclassification, Policy [Policy Text Block] | ' | ||
Reclassifications: Certain information has been reclassified to conform to the current year presentation. | |||
Use of Estimates, Policy [Policy Text Block] | ' | ||
Accounting estimates: The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingencies at the date of the financial statements and the reported amounts of net sales and expenses during the reporting period. Actual results could differ from such estimates. |
Business_Segments_Tables
Business Segments (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Segment Disclosures [Abstract] | ' | |||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||
2013 | 2012 | 2011 | ||||||||||
Segment assets | ||||||||||||
North America | $ | 304,069 | $ | 284,362 | $ | 289,761 | ||||||
EMEA | 104,774 | 102,159 | 88,494 | |||||||||
Asia/Pacific | 129,894 | 101,760 | 81,086 | |||||||||
South America | 45,409 | 48,353 | 51,811 | |||||||||
Total segment assets | $ | 584,146 | $ | 536,634 | $ | 511,152 | ||||||
2013 | 2012 | 2011 | ||||||||||
Segment long-lived assets | ||||||||||||
North America | $ | 91,464 | $ | 91,121 | $ | 90,800 | ||||||
EMEA | 20,863 | 20,056 | 19,243 | |||||||||
Asia/Pacific | 24,695 | 19,720 | 15,225 | |||||||||
South America | 4,130 | 5,276 | 6,577 | |||||||||
Total segment long-lived assets | $ | 141,152 | $ | 136,173 | $ | 131,845 | ||||||
2013 | 2012 | 2011 | ||||||||||
Capital expenditures | ||||||||||||
North America | $ | 2,793 | $ | 3,262 | $ | 5,185 | ||||||
EMEA | 1,391 | 3,332 | 2,442 | |||||||||
Asia/Pacific | 6,386 | 5,451 | 2,614 | |||||||||
South America | 869 | 690 | 1,876 | |||||||||
Total segment capital expenditures | $ | 11,439 | $ | 12,735 | $ | 12,117 | ||||||
2013 | 2012 | 2011 | ||||||||||
Depreciation | ||||||||||||
North America | $ | 5,236 | $ | 5,635 | $ | 4,739 | ||||||
EMEA | 3,145 | 2,906 | 2,922 | |||||||||
Asia/Pacific | 2,080 | 1,720 | 1,774 | |||||||||
South America | 1,211 | 1,333 | 1,454 | |||||||||
Total segment depreciation | $ | 11,672 | $ | 11,594 | $ | 10,889 | ||||||
2013 | 2012 | 2011 | ||||||||||
Net sales | ||||||||||||
North America | $ | 308,353 | $ | 310,127 | $ | 268,519 | ||||||
EMEA | 187,794 | 174,799 | 184,063 | |||||||||
Asia/Pacific | 169,505 | 157,062 | 151,468 | |||||||||
South America | 63,743 | 66,238 | 79,181 | |||||||||
Total net sales | $ | 729,395 | $ | 708,226 | $ | 683,231 | ||||||
2013 | 2012 | 2011 | ||||||||||
Operating earnings, excluding indirect operating expenses | ||||||||||||
North America | $ | 61,307 | $ | 58,571 | $ | 48,342 | ||||||
EMEA | 29,643 | 24,640 | 32,145 | |||||||||
Asia/Pacific | 42,373 | 37,030 | 32,145 | |||||||||
South America | 9,177 | 6,730 | 11,642 | |||||||||
Total operating earnings, excluding indirect operating expenses | 142,500 | 126,971 | 124,274 | |||||||||
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | ' | |||||||||||
2013 | 2012 | 2011 | ||||||||||
Total operating earnings, excluding indirect operating expenses | 142,500 | 126,971 | 124,274 | |||||||||
Non-operating charges | -67,145 | -59,983 | -58,689 | |||||||||
Depreciation of corporate assets and amortization | -4,112 | -3,764 | -2,904 | |||||||||
Consolidated operating income | 71,243 | 63,224 | 62,681 | |||||||||
Other income, net | 3,519 | 3,415 | 5,050 | |||||||||
Interest expense | -2,922 | -4,283 | -4,666 | |||||||||
Interest income | 986 | 592 | 1,081 | |||||||||
Consolidated income before taxes and equity in net income of associated companies | $ | 72,826 | $ | 62,948 | $ | 64,146 | ||||||
Schedule of Product Information [Table Text Block] | ' | |||||||||||
2013 | 2012 | 2011 | ||||||||||
Rolling Lubricants | 20.7 | % | 20.7 | % | 22 | % | ||||||
Machining and grinding compounds | 17.7 | % | 17.6 | % | 18.8 | % | ||||||
Hydraulic fluids | 12.9 | % | 13.5 | % | 12.9 | % | ||||||
Corrosion preventives | 12.5 | % | 12.4 | % | 11.5 | % |
Stock_Based_Compensation_Table
Stock Based Compensation (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||||||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | ' | |||||||||||||||||||
December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||
Stock options | $ | 517 | $ | 542 | $ | 482 | ||||||||||||||
Nonvested stock awards and restricted stock units | 1,900 | 1,504 | 1,430 | |||||||||||||||||
Employee stock purchase plan | 60 | 48 | 44 | |||||||||||||||||
Non-elective and elective 401(k) matching contribution in stock | 1,612 | 1,653 | 1,497 | |||||||||||||||||
Director stock ownership plan | 72 | 60 | 60 | |||||||||||||||||
Total share-based compensation expense | $ | 4,161 | $ | 3,807 | $ | 3,513 | ||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Weighted | Weighted | Weighted | Weighted | |||||||||||||||||
Average | Average | Average | Average | |||||||||||||||||
Exercise | Remaining | Exercise | Remaining | |||||||||||||||||
Number of | Price | Contractual | Number of | Price | Contractual | |||||||||||||||
Shares | per Share | Term (years) | Shares | per Share | Term (years) | |||||||||||||||
Options outstanding at January 1, | 107,455 | $ | 31.23 | 253,342 | $ | 16.43 | ||||||||||||||
Options granted | 29,302 | 58.26 | 40,157 | 38.57 | ||||||||||||||||
Options exercised | -57,137 | 27.12 | -177,574 | 11.87 | ||||||||||||||||
Options forfeited | -3,601 | 37.81 | -8,470 | 29.32 | ||||||||||||||||
Options expired | -768 | 37.37 | 0 | 0 | ||||||||||||||||
Options outstanding at December 31, | 75,251 | $ | 44.49 | 5.2 | 107,455 | $ | 31.23 | 5.1 | ||||||||||||
Options exercisable at December 31, | 11,840 | $ | 28.42 | 3.9 | 17,360 | $ | 28.81 | 4.4 | ||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | |||||||||||||||||||
Number | Weighted | Weighted | Number | Weighted | ||||||||||||||||
Outstanding | Average | Average | Exercisable | Average | ||||||||||||||||
Range of | at | Contractual | Exercise | at | Exercise | |||||||||||||||
Exercise Prices | 12/31/13 | Life | Price | 12/31/13 | Price | |||||||||||||||
$ | 0 | - | $ | 10 | 0 | 0 | $ | 0 | 0 | $ | 0 | |||||||||
$ | 10.01 | - | $ | 20 | 6,155 | 3.1 | 18.82 | 6,155 | 18.82 | |||||||||||
$ | 20.01 | - | $ | 30 | 0 | 0 | 0 | 0 | 0 | |||||||||||
$ | 30.01 | - | $ | 40 | 37,602 | 4.8 | 37.86 | 4,954 | 37.73 | |||||||||||
$ | 40.01 | - | $ | 50 | 2,192 | 5.5 | 46.21 | 731 | 46.21 | |||||||||||
$ | 50.01 | - | $ | 60 | 29,302 | 6.2 | 58.26 | 0 | 0 | |||||||||||
75,251 | 5.2 | 44.49 | 11,840 | 28.42 | ||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | |||||||||||||||||||
For the Year Ended December 31, | June 30, | |||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2012 | ||||||||||||||||
Stock option awards | 29,302 | 37,965 | 36,835 | 110,939 | 2,192 | |||||||||||||||
Dividend yield | 2.49 | % | 3.09 | % | 5 | % | 5.1 | % | 2.69 | % | ||||||||||
Expected volatility | 57.28 | % | 69.9 | % | 62.13 | % | 53.72 | % | 69.09 | % | ||||||||||
Risk-free interest rate | 0.63 | % | 0.61 | % | 1.99 | % | 2.85 | % | 0.58 | % | ||||||||||
Expected term (years) | 4 | 4 | 5 | 6 | 4 | |||||||||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | ' | |||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||
2013 Stock option awards | $ | 174 | $ | 0 | $ | 0 | ||||||||||||||
2012 Stock option awards | $ | 189 | $ | 167 | $ | 0 | ||||||||||||||
2011 Stock option awards | $ | 138 | $ | 164 | $ | 139 | ||||||||||||||
2010 Stock option awards | $ | 16 | $ | 193 | $ | 224 | ||||||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | |||||||||||||||||||
Weighted | ||||||||||||||||||||
Average Grant | ||||||||||||||||||||
Number of | Date Fair Value | |||||||||||||||||||
Shares | (per share) | |||||||||||||||||||
Nonvested awards, December 31, 2012 | 122,944 | $ | 31.98 | |||||||||||||||||
Granted | 51,659 | $ | 61.56 | |||||||||||||||||
Vested | -51,981 | $ | 26.02 | |||||||||||||||||
Forfeited | -6,638 | $ | 41.7 | |||||||||||||||||
Nonvested awards, December 31, 2013 | 115,984 | $ | 47.27 | |||||||||||||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | |||||||||||||||||||
Weighted | ||||||||||||||||||||
Average Grant | ||||||||||||||||||||
Number of | Date Fair Value | |||||||||||||||||||
Units | (per unit) | |||||||||||||||||||
Nonvested awards, December 31, 2012 | 2,100 | $ | 38.13 | |||||||||||||||||
Granted | 1,918 | $ | 62.39 | |||||||||||||||||
Nonvested awards, December 31, 2013 | 4,018 | $ | 49.71 |
Other_Income_Expense_Tables
Other Income (Expense) (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Income and Expenses [Abstract] | ' | ||||||||||||
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | ' | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Non-income tax refunds | $ | 2,876 | $ | 358 | $ | 244 | |||||||
Change in fair value of acquisition-related liabilities | 497 | 2,770 | 595 | ||||||||||
Gain on revaluation of previously held ownership interest in equity affiliate | 0 | 0 | 2,718 | ||||||||||
Income from third party license fees | 1,027 | 1,264 | 1,652 | ||||||||||
Net foreign exchange losses | -1,076 | -1,034 | -482 | ||||||||||
Asset impairment related to a cost streamlining initiative | -211 | 0 | 0 | ||||||||||
Other non-operating income | 629 | 362 | 591 | ||||||||||
Other non-operating expense | -223 | -305 | -268 | ||||||||||
Total other income, net | $ | 3,519 | $ | 3,415 | $ | 5,050 |
Taxes_on_Income_and_Uncertain_
Taxes on Income and Uncertain Positions (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Taxes on Income and Uncertain Tax Positions [Abstract] | ' | |||||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | |||||||||||||||||
Year Ended December 31, | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Current: | ||||||||||||||||||
Federal | $ | 7,216 | $ | 3,318 | $ | 3,485 | ||||||||||||
State | 263 | -69 | 385 | |||||||||||||||
Foreign | 13,040 | 9,972 | 7,955 | |||||||||||||||
20,519 | 13,221 | 11,825 | ||||||||||||||||
Deferred: | ||||||||||||||||||
Federal | 155 | 4,409 | 2,022 | |||||||||||||||
State | 138 | -794 | 0 | |||||||||||||||
Foreign | -323 | -1,261 | 409 | |||||||||||||||
Total | $ | 20,489 | $ | 15,575 | $ | 14,256 | ||||||||||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | ' | |||||||||||||||||
Year Ended December 31, | ||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Domestic | $ | 25,900 | $ | 26,520 | $ | 24,071 | ||||||||||||
Foreign | 46,926 | 36,428 | 35,306 | |||||||||||||||
Total | $ | 72,826 | $ | 62,948 | $ | 59,377 | ||||||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | |||||||||||||||||
2013 | 2012 | |||||||||||||||||
Current | Non-current | Current | Non-current | |||||||||||||||
Retirement benefits | $ | 585 | $ | 9,371 | $ | 614 | $ | 14,397 | ||||||||||
Allowance for doubtful accounts | 1,990 | 0 | 1,984 | 0 | ||||||||||||||
Insurance and litigation reserves | 677 | 126 | 580 | 260 | ||||||||||||||
Postretirement benefits | 0 | 1,951 | 0 | 2,543 | ||||||||||||||
Supplemental retirement benefits | 0 | 3,010 | 0 | 2,501 | ||||||||||||||
Performance incentives | 3,858 | 686 | 3,002 | 520 | ||||||||||||||
Equity-based compensation | 351 | 585 | 349 | 395 | ||||||||||||||
Insurance settlement | 6 | 9,071 | 10 | 9,425 | ||||||||||||||
Operating loss carryforward | 0 | 9,228 | 0 | 9,425 | ||||||||||||||
Uncertain tax positions | 0 | 5,806 | 0 | 7,700 | ||||||||||||||
Other | 975 | 888 | 679 | 1,039 | ||||||||||||||
8,442 | 40,722 | 7,218 | 48,205 | |||||||||||||||
Valuation allowance | -924 | -6,742 | -710 | -7,148 | ||||||||||||||
Total deferred income tax assets, net | $ | 7,518 | $ | 33,980 | $ | 6,508 | $ | 41,057 | ||||||||||
Depreciation | 0 | 4,712 | 0 | 5,069 | ||||||||||||||
Europe pension and other | 0 | 2,343 | 0 | 2,552 | ||||||||||||||
Amortization and other | 749 | 8,595 | 360 | 9,146 | ||||||||||||||
Total deferred income tax liabilities | $ | 749 | $ | 15,650 | $ | 360 | $ | 16,767 | ||||||||||
Schedule of Deferred Income Tax Assets Valuation Allowance [Table Text Block] | ' | |||||||||||||||||
Effect of | ||||||||||||||||||
Balance at | Additional | Allowance | Exchange | Balance | ||||||||||||||
Beginning | Valuation | Utilization | Rate | at End | ||||||||||||||
of Period | Allowance | and Other | Changes | of Period | ||||||||||||||
VALUATION ALLOWANCE | ||||||||||||||||||
Year ended December 31, 2013 | $ | 7,858 | $ | 26 | $ | -1 | $ | -217 | $ | 7,666 | ||||||||
Year ended December 31, 2012 | $ | 1,377 | $ | 6,594 | $ | -34 | $ | -79 | $ | 7,858 | ||||||||
Year ended December 31, 2011 | $ | 4,923 | $ | 348 | $ | -3,753 | $ | -141 | $ | 1,377 | ||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | |||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Income tax provision at the Federal statutory tax rate | $ | 25,489 | $ | 22,032 | $ | 20,782 | ||||||||||||
Differences in tax rates on foreign earnings and | ||||||||||||||||||
remittances | -2,487 | -3,207 | -3,692 | |||||||||||||||
Foreign dividends | 1,922 | 815 | 735 | |||||||||||||||
Excess foreign tax credit utilization | -3,664 | -2,237 | -2,493 | |||||||||||||||
Research and development activities credit utilization | -200 | 0 | -1,348 | |||||||||||||||
Uncertain tax positions | -589 | -1,196 | 701 | |||||||||||||||
Domestic production activities deduction | -560 | -402 | 0 | |||||||||||||||
State income tax provisions, net | 171 | -45 | 250 | |||||||||||||||
Non-deductible entertainment and business meals | ||||||||||||||||||
expense | 229 | 200 | 166 | |||||||||||||||
Non-taxable gain on acquisition | 0 | 0 | -951 | |||||||||||||||
Miscellaneous items, net | 178 | -385 | 106 | |||||||||||||||
Taxes on income | $ | 20,489 | $ | 15,575 | $ | 14,256 | ||||||||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | ' | |||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||
Unrecognized tax benefits at January 1 | $ | 12,410 | $ | 12,719 | $ | 10,464 | ||||||||||||
Increase in unrecognized tax benefits taken in prior periods | 83 | 0 | 1,597 | |||||||||||||||
(Decrease) in unrecognized tax benefits taken in prior periods | 0 | -411 | 0 | |||||||||||||||
Increase in unrecognized tax benefits taken in current period | 2,182 | 1,733 | 2,623 | |||||||||||||||
(Decrease) in unrecognized tax benefits due to lapse of statute of limitations | -2,485 | -1,837 | -1,578 | |||||||||||||||
Increase (decrease) due to foreign exchange rates | 406 | 206 | -387 | |||||||||||||||
Unrecognized tax benefits at December 31 | $ | 12,596 | $ | 12,410 | $ | 12,719 | ||||||||||||
Schedule Of Deferred Tax Assets And Liabilities Balance Sheet Classification [Table Text Block] | ' | |||||||||||||||||
2013 | 2012 | |||||||||||||||||
Current deferred tax assets | $ | 7,826 | $ | 6,401 | ||||||||||||||
Non-current deferred tax assets | 24,724 | 30,673 | ||||||||||||||||
Current deferred tax liabilities | 1,057 | 253 | ||||||||||||||||
Non-current deferred tax liabilities | 6,394 | 6,383 | ||||||||||||||||
Net deferred tax asset | $ | 25,099 | $ | 30,438 |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||
December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||
Basic earnings per common share | |||||||||||
Net income attributable to Quaker Chemical Corporation | $ | 56,339 | $ | 47,405 | $ | 45,892 | |||||
Less: income allocated to participating securities | -481 | -526 | -825 | ||||||||
Net income available to common shareholders | $ | 55,858 | $ | 46,879 | $ | 45,067 | |||||
Basic weighted average common shares outstanding | 13,044,842 | 12,871,703 | 12,159,958 | ||||||||
Basic earnings per common share | $ | 4.28 | $ | 3.64 | $ | 3.71 | |||||
Diluted earnings per common share | |||||||||||
Net income attributable to Quaker Chemical Corporation | $ | 56,339 | $ | 47,405 | $ | 45,892 | |||||
Less: income allocated to participating securities | -481 | -524 | -817 | ||||||||
Net income available to common shareholders | $ | 55,858 | $ | 46,881 | $ | 45,075 | |||||
Basic weighted average common shares outstanding | 13,044,842 | 12,871,703 | 12,159,958 | ||||||||
Effect of dilutive securities | 24,770 | 58,798 | 158,215 | ||||||||
Diluted weighted average common shares outstanding | 13,069,612 | 12,930,501 | 12,318,173 | ||||||||
Diluted earnings per common share | $ | 4.27 | $ | 3.63 | $ | 3.66 |
AR_and_Allowance_for_Doubtful_
AR and Allowance for Doubtful Accounts (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Accounts Receivable and Allowance for Doubtful Accounts [Abstract] | ' | |||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | |||||||||||||||||
Exchange | ||||||||||||||||||
Charged | Rate | |||||||||||||||||
Balance at | to Costs | Write-Offs | Changes | Balance | ||||||||||||||
Beginning | and | Charged to | And Other | at End | ||||||||||||||
of Period | Expenses | Allowance | Adjustments | of Period | ||||||||||||||
ALLOWANCE FOR DOUBTFUL ACCOUNTS | ||||||||||||||||||
Year ended December 31, 2013 | $ | 6,399 | $ | 1,136 | $ | -407 | $ | 5 | $ | 7,133 | ||||||||
Year ended December 31, 2012 | $ | 4,569 | $ | 2,072 | $ | -737 | $ | 495 | $ | 6,399 | ||||||||
Year ended December 31, 2011 | $ | 4,278 | $ | 855 | $ | -607 | $ | 43 | $ | 4,569 |
Inventories_Tables
Inventories (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventories [Abstract] | ' | ||||||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Raw materials and supplies | $ | 37,063 | $ | 40,417 | |||||
Work in process and finished goods | 34,494 | 32,054 | |||||||
$ | 71,557 | $ | 72,471 |
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Leases, Capital [Abstract] | ' | ||||||||
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | ' | ||||||||
For the year ended December 31, | |||||||||
2014 | $ | 141 | |||||||
2015 | 96 | ||||||||
2016 | 65 | ||||||||
2017 | 59 | ||||||||
2018 | 0 | ||||||||
2019 and beyond | 0 | ||||||||
Total net minimum lease payments | 361 | ||||||||
Less amount representing interest | -18 | ||||||||
Present value of net minimum lease payments | $ | 343 | |||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Land | $ | 8,510 | $ | 8,346 | |||||
Building and improvements | 80,644 | 72,292 | |||||||
Machinery and equipment | 136,549 | 134,754 | |||||||
Construction in progress | 8,162 | 9,785 | |||||||
233,865 | 225,177 | ||||||||
Less accumulated depreciation | -148,377 | -140,065 | |||||||
$ | 85,488 | $ | 85,112 |
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Goodwill [Table Text Block] | ' | |||||||||||||||
North | South | |||||||||||||||
America | EMEA | Asia/Pacific | America | Total | ||||||||||||
Balance as of December 31, 2011 | $ | 28,128 | $ | 11,184 | $ | 15,018 | $ | 3,822 | $ | 58,152 | ||||||
Goodwill additions | 0 | 1,786 | 0 | 0 | 1,786 | |||||||||||
Currency translation adjustments | 407 | -1,559 | 305 | 78 | -769 | |||||||||||
Balance as of December 31, 2012 | $ | 28,535 | $ | 11,411 | $ | 15,323 | $ | 3,900 | $ | 59,169 | ||||||
Goodwill additions | 277 | 0 | 0 | 0 | 277 | |||||||||||
Currency translation adjustments | -685 | -227 | -305 | -78 | -1,295 | |||||||||||
Balance as of December 31, 2013 | $ | 28,127 | $ | 11,184 | $ | 15,018 | $ | 3,822 | $ | 58,151 | ||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | |||||||||||||||
Gross Carrying | Accumulated | |||||||||||||||
Amount | Amortization | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Amortized intangible assets | ||||||||||||||||
Customer lists and rights to sell | $ | 33,559 | $ | 32,356 | $ | 10,221 | $ | 8,192 | ||||||||
Trademarks and patents | 6,838 | 6,760 | 3,202 | 2,548 | ||||||||||||
Formulations and product technology | 5,808 | 5,278 | 3,709 | 3,423 | ||||||||||||
Other | 5,544 | 5,467 | 4,445 | 3,989 | ||||||||||||
Total | $ | 51,749 | $ | 49,861 | $ | 21,577 | $ | 18,152 | ||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | |||||||||||||||
For the year ended December 31, 2014 | $3,254 | |||||||||||||||
For the year ended December 31, 2015 | $3,254 | |||||||||||||||
For the year ended December 31, 2016 | $2,775 | |||||||||||||||
For the year ended December 31, 2017 | $2,112 | |||||||||||||||
For the year ended December 31, 2018 | $2,089 |
Investment_in_Associated_Compa
Investment in Associated Companies (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Investments in Associated Companies [Abstract] | ' | |||||||||||
Schedule of Equity Method Investments [Table Text Block] | ' | |||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Current Assets | $ | 28,363 | $ | 28,602 | ||||||||
Noncurrent Assets | 717 | 2,402 | ||||||||||
Current Liabilities | 13,974 | 15,158 | ||||||||||
Noncurrent Liabilities | 501 | 248 | ||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net Sales | $ | 47,226 | $ | 55,963 | $ | 66,925 | ||||||
Gross Margin | 16,096 | 18,480 | 22,092 | |||||||||
Income Before Income Taxes | 3,687 | 3,170 | 3,788 | |||||||||
Net Income | 2,142 | 2,118 | 1,696 | |||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Total Assets | $ | 106,450 | $ | 130,816 | ||||||||
Total Liabilities | 63,938 | 97,754 | ||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Revenue | $ | 20,895 | $ | 8,473 | $ | 11,523 | ||||||
Income Before Income Taxes | 25,625 | 8,901 | 14,837 | |||||||||
Net Income | 16,876 | 6,031 | 9,941 |
Other_Assets_Tables
Other Assets (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Other Assets [Abstract] | ' | ||||||||
Schedule of Other Assets, Noncurrent [Table Text Block] | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Restricted insurance settlement | $ | 25,462 | $ | 26,398 | |||||
Deferred compensation assets | 894 | 915 | |||||||
Supplemental retirement income program | 1,885 | 1,653 | |||||||
Uncertain tax positions | 4,677 | 3,058 | |||||||
Other | 3,349 | 2,434 | |||||||
Total | $ | 36,267 | $ | 34,458 |
Other_Current_Liabilities_Tabl
Other Current Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Other Current Liabilities [Abstract] | ' | ||||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Non-income taxes | $ | 7,658 | $ | 6,364 | |||||
Acquisition-related consideration | 4,797 | 0 | |||||||
Professional fees | 2,007 | 2,083 | |||||||
Selling expenses | 4,266 | 2,205 | |||||||
Legal | 960 | 1,018 | |||||||
Freight | 1,914 | 1,120 | |||||||
Income taxes payable | 5,216 | 0 | |||||||
Other | 3,767 | 3,457 | |||||||
Total | $ | 30,585 | $ | 16,247 |
Debt_Tables
Debt (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt [Abstract] | ' | ||||||||
Schedule of Debt [Table Text Block] | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Industrial development authority monthly 5.60% fixed rate demand bond maturing 2018 | $ | 5,000 | $ | 5,000 | |||||
Industrial development authority monthly 5.26% fixed rate demand bond maturing 2028 | 10,000 | 10,000 | |||||||
Credit facilities (1.66% weighted average borrowing rate at December 31, 2013) | 0 | 12,200 | |||||||
Ohio Department of Development term loan (see below) | 2,428 | 2,754 | |||||||
Other debt obligations (including capital leases) | 1,288 | 1,514 | |||||||
18,716 | 31,468 | ||||||||
Short-term debt | -945 | -867 | |||||||
Current portion of long-term debt | -450 | -601 | |||||||
$ | 17,321 | $ | 30,000 | ||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | ||||||||
2014 | $ | 1,395 | |||||||
2015 | 418 | ||||||||
2016 | 393 | ||||||||
2017 | 396 | ||||||||
2018 | 5,344 | ||||||||
2019 and beyond | $ | 10,770 |
Pension_and_Other_Post_Retirem
Pension and Other Post Retirement Benefits (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Pension and Other Postretirement Benefits [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | ' | ||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
Postretirement | |||||||||||||||||||||||||
Pension Benefits | Benefits | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
Foreign | Domestic | Total | Foreign | Domestic | Total | Domestic | Domestic | ||||||||||||||||||
Change in benefit obligation | |||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 81,280 | $ | 70,407 | $ | 151,687 | $ | 61,581 | $ | 66,226 | $ | 127,807 | $ | 7,317 | $ | 7,202 | |||||||||
Service cost | 2,864 | 299 | 3,163 | 2,004 | 460 | 2,464 | 34 | 46 | |||||||||||||||||
Interest cost | 3,150 | 2,437 | 5,587 | 3,020 | 2,803 | 5,823 | 185 | 283 | |||||||||||||||||
Employee contributions | 111 | 0 | 111 | 101 | 0 | 101 | 0 | 0 | |||||||||||||||||
Effect of plan amendments | -2,138 | 0 | -2,138 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
Benefits paid | -1,853 | -4,516 | -6,369 | -1,973 | -4,668 | -6,641 | -566 | -728 | |||||||||||||||||
Plan expenses and premiums paid | -367 | -225 | -592 | -331 | -225 | -556 | 0 | 0 | |||||||||||||||||
Actuarial (gain) loss | -566 | -2,033 | -2,599 | 14,874 | 5,811 | 20,685 | -1,331 | 514 | |||||||||||||||||
Translation difference and other | 3,264 | 0 | 3,264 | 2,004 | 0 | 2,004 | 0 | 0 | |||||||||||||||||
Benefit obligation at end of year | $ | 85,745 | $ | 66,369 | $ | 152,114 | $ | 81,280 | $ | 70,407 | $ | 151,687 | $ | 5,639 | $ | 7,317 | |||||||||
Change in plan assets | |||||||||||||||||||||||||
Fair value of plan assets at beginning of | |||||||||||||||||||||||||
year | $ | 60,909 | $ | 45,991 | $ | 106,900 | $ | 54,968 | $ | 43,470 | $ | 98,438 | $ | 0 | $ | 0 | |||||||||
Actual return on plan assets | 3,237 | 7,487 | 10,724 | 2,972 | 4,466 | 7,438 | 0 | 0 | |||||||||||||||||
Employer contributions | 3,947 | 1,913 | 5,860 | 3,842 | 2,948 | 6,790 | 566 | 728 | |||||||||||||||||
Employee contributions | 111 | 0 | 111 | 101 | 0 | 101 | 0 | 0 | |||||||||||||||||
Benefits paid | -1,853 | -4,516 | -6,369 | -1,973 | -4,668 | -6,641 | -566 | -728 | |||||||||||||||||
Plan expenses and premiums paid | -367 | -225 | -592 | -331 | -225 | -556 | 0 | 0 | |||||||||||||||||
Translation difference | 2,675 | 0 | 2,675 | 1,330 | 0 | 1,330 | 0 | 0 | |||||||||||||||||
Fair value of plan assets at end of year | $ | 68,659 | $ | 50,650 | $ | 119,309 | $ | 60,909 | $ | 45,991 | $ | 106,900 | $ | 0 | $ | 0 | |||||||||
Net amount recognized | $ | -17,086 | $ | -15,719 | $ | -32,805 | $ | -20,371 | $ | -24,416 | $ | -44,787 | $ | -5,639 | $ | -7,317 | |||||||||
Amounts recognized in the balance sheet | |||||||||||||||||||||||||
consist of: | |||||||||||||||||||||||||
Current liabilities | $ | -242 | $ | -589 | $ | -831 | $ | -892 | $ | -577 | $ | -1,469 | $ | -607 | $ | -719 | |||||||||
Non-current liabilities | -16,844 | -15,130 | -31,974 | -19,479 | -23,839 | -43,318 | -5,032 | -6,598 | |||||||||||||||||
Net amount recognized | $ | -17,086 | $ | -15,719 | $ | -32,805 | $ | -20,371 | $ | -24,416 | $ | -44,787 | $ | -5,639 | $ | -7,317 | |||||||||
Amounts not yet reflected in net periodic | |||||||||||||||||||||||||
benefit costs and included in | |||||||||||||||||||||||||
accumulated other comprehensive | |||||||||||||||||||||||||
loss: | |||||||||||||||||||||||||
Prior service credit (cost) | $ | 2,105 | $ | -311 | $ | 1,794 | $ | -62 | $ | -460 | $ | -522 | $ | 0 | $ | 0 | |||||||||
Accumulated loss | -27,188 | -27,593 | -54,781 | -29,227 | -35,929 | -65,156 | -745 | -2,107 | |||||||||||||||||
Accumulated other comprehensive | |||||||||||||||||||||||||
loss (AOCI) | -25,083 | -27,904 | -52,987 | -29,289 | -36,389 | -65,678 | -745 | -2,107 | |||||||||||||||||
Cumulative employer contributions | |||||||||||||||||||||||||
in excess of net period benefit cost | 7,997 | 12,185 | 20,182 | 8,918 | 11,973 | 20,891 | -4,894 | -5,210 | |||||||||||||||||
Net amount recognized | $ | -17,086 | $ | -15,719 | $ | -32,805 | $ | -20,371 | $ | -24,416 | $ | -44,787 | $ | -5,639 | $ | -7,317 | |||||||||
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | ' | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Foreign | Domestic | Total | Foreign | Domestic | Total | ||||||||||||||||||||
Projected benefit obligation | $ | 85,745 | $ | 66,369 | $ | 152,114 | $ | 81,280 | $ | 70,407 | $ | 151,687 | |||||||||||||
Accumulated benefit obligation | 84,005 | 66,369 | 150,374 | 75,885 | 69,951 | 145,836 | |||||||||||||||||||
Fair value of plan assets | 68,659 | 50,650 | 119,309 | 60,909 | 45,991 | 106,900 | |||||||||||||||||||
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | ' | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Foreign | Domestic | Total | Foreign | Domestic | Total | ||||||||||||||||||||
Projected benefit obligation | $ | 85,745 | $ | 66,369 | $ | 152,114 | $ | 81,280 | $ | 70,407 | $ | 151,687 | |||||||||||||
Fair value of plan assets | 68,659 | 50,650 | 119,309 | 60,909 | 45,991 | 106,900 | |||||||||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Foreign | Domestic | Total | Foreign | Domestic | Total | ||||||||||||||||||||
Service cost | $ | 2,864 | $ | 299 | $ | 3,163 | $ | 2,004 | $ | 460 | $ | 2,464 | |||||||||||||
Interest cost | 3,150 | 2,437 | 5,587 | 3,020 | 2,803 | 5,823 | |||||||||||||||||||
Expected return on plan assets | -2,245 | -3,664 | -5,909 | -1,995 | -3,481 | -5,476 | |||||||||||||||||||
Actuarial loss amortization | 1,486 | 2,481 | 3,967 | 590 | 2,057 | 2,647 | |||||||||||||||||||
Prior service cost amortization | 30 | 148 | 178 | 30 | 82 | 112 | |||||||||||||||||||
Net periodic benefit cost | $ | 5,285 | $ | 1,701 | $ | 6,986 | $ | 3,649 | $ | 1,921 | $ | 5,570 | |||||||||||||
2011 | |||||||||||||||||||||||||
Foreign | Domestic | Total | |||||||||||||||||||||||
Service cost | $ | 1,890 | $ | 400 | $ | 2,290 | |||||||||||||||||||
Interest cost | 3,037 | 3,145 | 6,182 | ||||||||||||||||||||||
Expected return on plan assets | -2,349 | -3,592 | -5,941 | ||||||||||||||||||||||
Actuarial loss amortization | 233 | 1,554 | 1,787 | ||||||||||||||||||||||
Prior service cost amortization | 32 | 82 | 114 | ||||||||||||||||||||||
Net periodic benefit cost | $ | 2,843 | $ | 1,589 | $ | 4,432 | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Interest cost | $ | 185 | $ | 283 | $ | 331 | |||||||||||||||||||
Service cost | 34 | 46 | 16 | ||||||||||||||||||||||
Actuarial loss amortization | 32 | 115 | 75 | ||||||||||||||||||||||
Net periodic benefit costs | $ | 251 | $ | 444 | $ | 422 | |||||||||||||||||||
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Foreign | Domestic | Total | Foreign | Domestic | Total | ||||||||||||||||||||
Net (gain) loss arising during the period | $ | -1,558 | $ | -5,856 | $ | -7,414 | $ | 13,897 | $ | 4,826 | $ | 18,723 | |||||||||||||
Effect of plan amendment | -2,138 | 0 | -2,138 | 0 | 0 | 0 | |||||||||||||||||||
Recognition of amortization in net periodic | |||||||||||||||||||||||||
benefit cost | |||||||||||||||||||||||||
Prior service cost | -30 | -148 | -178 | -30 | -82 | -112 | |||||||||||||||||||
Actuarial loss | -1,486 | -2,481 | -3,967 | -590 | -2,057 | -2,647 | |||||||||||||||||||
Effect of exchange rates on amounts included in | |||||||||||||||||||||||||
AOCI | 1,007 | 0 | 1,007 | 809 | 0 | 809 | |||||||||||||||||||
Total recognized in other comprehensive | |||||||||||||||||||||||||
(income) loss | -4,205 | -8,485 | -12,690 | 14,086 | 2,687 | 16,773 | |||||||||||||||||||
Total recognized in net periodic benefit cost and | |||||||||||||||||||||||||
other comprehensive (income) loss | $ | 1,080 | $ | -6,784 | $ | -5,704 | $ | 17,735 | $ | 4,608 | $ | 22,343 | |||||||||||||
2011 | |||||||||||||||||||||||||
Foreign | Domestic | Total | |||||||||||||||||||||||
Net loss arising during period | $ | 5,164 | $ | 7,593 | $ | 12,757 | |||||||||||||||||||
Recognition of amortization in net periodic benefit cost | |||||||||||||||||||||||||
Prior service cost | -32 | -82 | -114 | ||||||||||||||||||||||
Actuarial loss | -233 | -1,554 | -1,787 | ||||||||||||||||||||||
Effect of exchange rates on amounts included in AOCI | -794 | 0 | -794 | ||||||||||||||||||||||
Total recognized in other comprehensive loss | 4,105 | 5,957 | 10,062 | ||||||||||||||||||||||
Total recognized in net periodic benefit cost and other | |||||||||||||||||||||||||
comprehensive loss | $ | 6,948 | $ | 7,546 | $ | 14,494 | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Net (gain) loss arising during period | $ | -1,331 | $ | 514 | $ | -167 | |||||||||||||||||||
Amortization of actuarial loss in net periodic benefit costs | -32 | -115 | -75 | ||||||||||||||||||||||
Total recognized in other comprehensive (income) loss | -1,363 | 399 | -242 | ||||||||||||||||||||||
Total recognized in net periodic benefit cost and other | |||||||||||||||||||||||||
comprehensive (income) loss | $ | -1,112 | $ | 843 | $ | 180 | |||||||||||||||||||
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block] | ' | ||||||||||||||||||||||||
Pension Plans | Other Postretirement | ||||||||||||||||||||||||
Foreign | Domestic | Total | Benefits | ||||||||||||||||||||||
Actuarial loss | $ | 1,351 | $ | 1,819 | $ | 3,170 | $ | 24 | |||||||||||||||||
Prior service (credit) cost | -154 | 63 | -91 | 0 | |||||||||||||||||||||
$ | 1,197 | $ | 1,882 | $ | 3,079 | $ | 24 | ||||||||||||||||||
Schedule of Assumptions Used [Table Text Block] | ' | ||||||||||||||||||||||||
Other Postretirement | |||||||||||||||||||||||||
Pension Benefits | Benefits | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
U.S. Plans: | |||||||||||||||||||||||||
Discount rate | 4.48% | 3.52% | 4.05% | 3.20% | |||||||||||||||||||||
Rate of compensation increase | 3.63% | 3.40% | N/A | N/A | |||||||||||||||||||||
Foreign Plans: | |||||||||||||||||||||||||
Discount rate | 3.84% | 3.94% | N/A | N/A | |||||||||||||||||||||
Rate of compensation increase | 3.05% | 3.60% | N/A | N/A | |||||||||||||||||||||
Other Postretirement | |||||||||||||||||||||||||
Pension Benefits | Benefits | ||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||
U.S. Plans: | |||||||||||||||||||||||||
Discount rate | 3.52% | 4.41% | 3.20% | 4.15% | |||||||||||||||||||||
Expected long-term return on plan assets | 8.25% | 8.25% | N/A | N/A | |||||||||||||||||||||
Rate of compensation increase | 3.40% | 3.40% | N/A | N/A | |||||||||||||||||||||
Foreign Plans: | |||||||||||||||||||||||||
Discount rate | 3.94% | 4.99% | N/A | N/A | |||||||||||||||||||||
Expected long-term return on plan assets | 3.57% | 3.51% | N/A | N/A | |||||||||||||||||||||
Rate of compensation increase | 3.60% | 3.58% | N/A | N/A | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Health care cost trend rate for next year | 7.10% | 7.30% | |||||||||||||||||||||||
Rate to which the cost trend rate is assumed to decline (the | |||||||||||||||||||||||||
ultimate trend rate) | 4.50% | 4.50% | |||||||||||||||||||||||
Year that the rate reaches the ultimate trend rate | 2027 | 2027 | |||||||||||||||||||||||
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] | ' | ||||||||||||||||||||||||
1% point | 1% point | ||||||||||||||||||||||||
Increase | Decrease | ||||||||||||||||||||||||
Effect on total service and interest cost | $ | 21 | $ | -18 | |||||||||||||||||||||
Effect on postretirement benefit obligations | 456 | -401 | |||||||||||||||||||||||
Schedule of Allocation of Plan Assets [Table Text Block] | ' | ||||||||||||||||||||||||
Target | 2013 | 2012 | |||||||||||||||||||||||
Asset Category | |||||||||||||||||||||||||
U.S. Plans | |||||||||||||||||||||||||
Equity securities | 61% | 66% | 58% | ||||||||||||||||||||||
Debt securities | 32% | 32% | 40% | ||||||||||||||||||||||
Other | 7% | 2% | 2% | ||||||||||||||||||||||
Total | 100% | 100% | 100% | ||||||||||||||||||||||
Foreign Plans | |||||||||||||||||||||||||
Equity securities and other | 18% | 19% | 17% | ||||||||||||||||||||||
Debt securities | 82% | 81% | 83% | ||||||||||||||||||||||
Total | 100% | 100% | 100% | ||||||||||||||||||||||
Fair Value Measurements at December 31, 2013 | |||||||||||||||||||||||||
Fair Value as of | Using Fair Value Hierarchy | ||||||||||||||||||||||||
U.S. Pension Assets | 31-Dec-13 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Cash and cash equivalents | $ | 825 | $ | 825 | $ | 0 | $ | 0 | |||||||||||||||||
Large capitalization common stock | 14,801 | 14,801 | 0 | 0 | |||||||||||||||||||||
Large capitalization registered investment companies | 6,820 | 6,820 | 0 | 0 | |||||||||||||||||||||
Small capitalization common stock | 771 | 771 | 0 | 0 | |||||||||||||||||||||
Small capitalization registered investment companies | 2,384 | 2,384 | 0 | 0 | |||||||||||||||||||||
International developed and emerging markets registered | |||||||||||||||||||||||||
investment companies | 5,895 | 5,895 | 0 | 0 | |||||||||||||||||||||
International developed and emerging markets common stock | 2,929 | 2,929 | 0 | 0 | |||||||||||||||||||||
Fixed income corporate securities | 10,144 | 10,144 | 0 | 0 | |||||||||||||||||||||
Fixed income registered investment companies | 4,486 | 4,486 | 0 | 0 | |||||||||||||||||||||
U.S. and foreign government fixed income securities | 192 | 192 | 0 | 0 | |||||||||||||||||||||
Pooled separate accounts | 1,403 | 0 | 1,403 | 0 | |||||||||||||||||||||
Total U.S. pension plan assets | $ | 50,650 | $ | 49,247 | $ | 1,403 | $ | 0 | |||||||||||||||||
Foreign Pension Assets | |||||||||||||||||||||||||
Cash and cash equivalents | $ | 5 | $ | 5 | $ | 0 | $ | 0 | |||||||||||||||||
Insurance contract (underlying notional investments in | |||||||||||||||||||||||||
debt and equity securities) | 57,175 | 0 | 0 | 57,175 | |||||||||||||||||||||
Diversified equity securities - registered investment companies | 6,597 | 0 | 6,597 | 0 | |||||||||||||||||||||
Fixed income registered investment companies | 4,448 | 0 | 4,448 | 0 | |||||||||||||||||||||
Real estate registered investment companies | 434 | 0 | 0 | 434 | |||||||||||||||||||||
Total foreign pension assets | $ | 68,659 | $ | 5 | $ | 11,045 | $ | 57,609 | |||||||||||||||||
Total pension assets at fair value | $ | 119,309 | $ | 49,252 | $ | 12,448 | $ | 57,609 | |||||||||||||||||
Fair Value Measurements at December 31, 2012 | |||||||||||||||||||||||||
Fair Value as of | Using Fair Value Hierarchy | ||||||||||||||||||||||||
U.S. Pension Assets | 31-Dec-12 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Cash and cash equivalents | $ | 905 | $ | 905 | $ | 0 | $ | 0 | |||||||||||||||||
Large capitalization common stock | 12,195 | 12,195 | 0 | 0 | |||||||||||||||||||||
Large capitalization registered investment companies | 6,551 | 6,551 | 0 | 0 | |||||||||||||||||||||
Small capitalization common stock | 539 | 539 | 0 | 0 | |||||||||||||||||||||
Small capitalization registered investment companies | 1,910 | 1,910 | 0 | 0 | |||||||||||||||||||||
International developed and emerging markets registered | |||||||||||||||||||||||||
investment companies | 3,107 | 3,107 | 0 | 0 | |||||||||||||||||||||
International developed and emerging markets common stock | 2,527 | 2,527 | 0 | 0 | |||||||||||||||||||||
Fixed income corporate securities | 10,297 | 10,297 | 0 | 0 | |||||||||||||||||||||
Fixed income registered investment companies | 6,483 | 6,483 | 0 | 0 | |||||||||||||||||||||
U.S. and foreign government fixed income securities | 12 | 12 | 0 | 0 | |||||||||||||||||||||
Pooled separate accounts | 1,465 | 0 | 1,465 | 0 | |||||||||||||||||||||
Total U.S. pension plan assets | $ | 45,991 | $ | 44,526 | $ | 1,465 | $ | 0 | |||||||||||||||||
Foreign Pension Assets | |||||||||||||||||||||||||
Cash and cash equivalents | $ | 96 | $ | 96 | $ | 0 | $ | 0 | |||||||||||||||||
Insurance contract (underlying notional investments in | |||||||||||||||||||||||||
debt and equity securities) | 51,146 | 0 | 0 | 51,146 | |||||||||||||||||||||
Diversified equity securities - registered investment companies | 5,072 | 0 | 5,072 | 0 | |||||||||||||||||||||
Fixed income registered investment companies | 4,207 | 0 | 4,207 | 0 | |||||||||||||||||||||
Real estate registered investment companies | 388 | 0 | 0 | 388 | |||||||||||||||||||||
Total foreign pension assets | $ | 60,909 | $ | 96 | $ | 9,279 | $ | 51,534 | |||||||||||||||||
Total pension assets at fair value | $ | 106,900 | $ | 44,622 | $ | 10,744 | $ | 51,534 | |||||||||||||||||
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] | ' | ||||||||||||||||||||||||
Insurance | Real Estate | ||||||||||||||||||||||||
Contract | Fund | Total | |||||||||||||||||||||||
Balance at December 31, 2011 | $ | 46,797 | $ | 363 | $ | 47,160 | |||||||||||||||||||
Purchases | 2,997 | 0 | 2,997 | ||||||||||||||||||||||
Settlements | -1,466 | 0 | -1,466 | ||||||||||||||||||||||
Unrealized gains | 1,854 | 10 | 1,864 | ||||||||||||||||||||||
Currency translation adjustment | 964 | 15 | 979 | ||||||||||||||||||||||
Balance at December 31, 2012 | 51,146 | 388 | 51,534 | ||||||||||||||||||||||
Purchases | 3,182 | 0 | 3,182 | ||||||||||||||||||||||
Settlements | -1,607 | 0 | -1,607 | ||||||||||||||||||||||
Unrealized gains | 2,061 | 36 | 2,097 | ||||||||||||||||||||||
Currency translation adjustment | 2,393 | 10 | 2,403 | ||||||||||||||||||||||
Balance at December 31, 2013 | $ | 57,175 | $ | 434 | $ | 57,609 | |||||||||||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | ' | ||||||||||||||||||||||||
Other | |||||||||||||||||||||||||
Pension Benefits | Postretirement | ||||||||||||||||||||||||
Foreign | Domestic | Total | Benefits | ||||||||||||||||||||||
2014 | $ | 1,968 | $ | 4,872 | $ | 6,840 | $ | 607 | |||||||||||||||||
2015 | 1,901 | 4,548 | 6,449 | 565 | |||||||||||||||||||||
2016 | 2,118 | 4,509 | 6,627 | 544 | |||||||||||||||||||||
2017 | 2,287 | 4,408 | 6,695 | 528 | |||||||||||||||||||||
2018 | 2,483 | 4,396 | 6,879 | 492 | |||||||||||||||||||||
2019 and beyond | 17,822 | 22,096 | 39,918 | 2,043 |
Other_NonCurrent_Liabilities_T
Other Non-Current Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Other Liabilities Noncurrent [Abstract] | ' | ||||||||
Schedule of Other Assets and Other Liabilities [Table Text Block] | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Restricted insurance settlement | $ | 25,462 | $ | 26,398 | |||||
Uncertain tax positions (includes interest and penalties) | 15,885 | 16,328 | |||||||
Acquisition-related consideration | 0 | 4,651 | |||||||
Deferred and other long-term compensation | 5,646 | 4,550 | |||||||
Other | 545 | 940 | |||||||
Total | $ | 47,538 | $ | 52,867 |
Equity_and_Noncontrolling_Inte1
Equity and Noncontrolling Interest (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Equity [Abstract] | ' | |||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||||||
Unrealized | ||||||||||||||||
Currency | Defined | Change in | gain (loss) in | |||||||||||||
translation | benefit | fair value of | available-for- | |||||||||||||
adjustments | pension plans | derivatives | sale securities | Total | ||||||||||||
Balance at December 31, 2010 | $ | 13,368 | $ | -26,448 | $ | -667 | $ | 994 | $ | -12,753 | ||||||
Other comprehensive (loss) income before reclassifications | -8,659 | -12,783 | -52 | 1,235 | -20,259 | |||||||||||
Amounts reclassified from AOCI | 0 | 1,976 | 660 | -1,444 | 1,192 | |||||||||||
Related tax amounts | 0 | 2,995 | -213 | 71 | 2,853 | |||||||||||
Balance at December 31, 2011 | 4,709 | -34,260 | -272 | 856 | -28,967 | |||||||||||
Other comprehensive (loss) income before reclassifications | -1,373 | -20,045 | 26 | 2,181 | -19,211 | |||||||||||
Amounts reclassified from AOCI | 0 | 2,875 | 392 | -868 | 2,399 | |||||||||||
Related tax amounts | 0 | 4,516 | -146 | -446 | 3,924 | |||||||||||
Balance at December 31, 2012 | 3,336 | -46,914 | 0 | 1,723 | -41,855 | |||||||||||
Other comprehensive income (loss) before reclassifications | -2,184 | 9,876 | 0 | 2,543 | 10,235 | |||||||||||
Amounts reclassified from AOCI | 0 | 4,177 | 0 | -2,758 | 1,419 | |||||||||||
Related tax amounts | 0 | -4,572 | 0 | 73 | -4,499 | |||||||||||
Balance at December 31, 2013 | $ | 1,152 | $ | -37,433 | $ | 0 | $ | 1,581 | $ | -34,700 |
Business_Acquisitions_Tables
Business Acquisitions (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Business Combinations [Abstract] | ' | |||||||||||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | ' | |||||||||||
NP Coil Dexter | ||||||||||||
2012 Acquisition | Industries, S.r.l. | |||||||||||
Current assets | $ | 5,536 | ||||||||||
Property, plant & equipment | 1,211 | |||||||||||
Intangibles | 3,825 | |||||||||||
Goodwill | 1,786 | |||||||||||
Other long-term assets | 783 | |||||||||||
Total assets purchased | 13,141 | |||||||||||
Short-term debt | -1,186 | |||||||||||
Other current liabilities | -6,168 | |||||||||||
Long-term debt | -854 | |||||||||||
Other long-term liabilities | -1,258 | |||||||||||
Present value of a hold-back liability | -927 | |||||||||||
Total liabilities assumed | -10,393 | |||||||||||
Cash paid for an acquisition | $ | 2,748 | ||||||||||
Quaker | GW Smith | |||||||||||
2011 Acquisitions | Tecniquimia | & Sons, Inc. | Total | |||||||||
Current assets | $ | 8,946 | $ | 6,138 | $ | 15,084 | ||||||
Property, plant and equipment | 4,308 | 2,869 | 7,177 | |||||||||
Intangibles | 3,556 | 6,260 | 9,816 | |||||||||
Goodwill | 6,773 | 1,120 | 7,893 | |||||||||
Other long-term assets | 1,355 | 1 | 1,356 | |||||||||
Total assets purchased | 24,938 | 16,388 | 41,326 | |||||||||
Current liabilities | -2,224 | -1,001 | -3,225 | |||||||||
Long-term liabilities | -6,869 | 0 | -6,869 | |||||||||
Present value of a hold-back liability | -1,754 | -869 | -2,623 | |||||||||
Total liabilities assumed | -10,847 | -1,870 | -12,717 | |||||||||
Additional minimum pension liability | 987 | 0 | 987 | |||||||||
Total equity assumed | 987 | 0 | 987 | |||||||||
Fair value of previously held equity interest | -4,578 | 0 | -4,578 | |||||||||
Cash paid for acquisitions | $ | 10,500 | $ | 14,518 | $ | 25,018 |
Fair_Value_Measurements_Table
Fair Value Measurements (Table) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||
Fair Value Measurements at December 31, 2013 | |||||||||||||
Fair Value | Using Fair Value Hierarchy | ||||||||||||
as of | |||||||||||||
Assets | 31-Dec-13 | Level 1 | Level 2 | Level 3 | |||||||||
Company-owned life insurance | $ | 1,885 | $ | 0 | $ | 1,885 | $ | 0 | |||||
Company-owned life insurance - Deferred compensation assets | 409 | 0 | 409 | 0 | |||||||||
Other deferred compensation assets | |||||||||||||
Large capitalization registered investment companies | 74 | 74 | 0 | 0 | |||||||||
Mid capitalization registered investment companies | 6 | 6 | 0 | 0 | |||||||||
Small capitalization registered investment companies | 13 | 13 | 0 | 0 | |||||||||
International developed and emerging markets registered investment | |||||||||||||
companies | 40 | 40 | 0 | 0 | |||||||||
Fixed income registered investment companies | 7 | 7 | 0 | 0 | |||||||||
Total | $ | 2,434 | $ | 140 | $ | 2,294 | $ | 0 | |||||
Fair Value Measurements at December 31, 2012 | |||||||||||||
Fair Value | Using Fair Value Hierarchy | ||||||||||||
as of | |||||||||||||
Assets | 31-Dec-12 | Level 1 | Level 2 | Level 3 | |||||||||
Company-owned life insurance | $ | 1,653 | $ | 0 | $ | 1,653 | $ | 0 | |||||
Company-owned life insurance - Deferred compensation assets | 437 | 0 | 437 | 0 | |||||||||
Other deferred compensation assets | |||||||||||||
Large capitalization registered investment companies | 62 | 62 | 0 | 0 | |||||||||
Mid capitalization registered investment companies | 6 | 6 | 0 | 0 | |||||||||
Small capitalization registered investment companies | 9 | 9 | 0 | 0 | |||||||||
International developed and emerging markets registered investment | |||||||||||||
companies | 37 | 37 | 0 | 0 | |||||||||
Fixed income registered investment companies | 8 | 8 | 0 | 0 | |||||||||
Total | $ | 2,212 | $ | 122 | $ | 2,090 | $ | 0 | |||||
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||
Fair Value Measurements at December 31, 2013 | |||||||||||||
Fair Value | Using Fair Value Hierarchy | ||||||||||||
as of | |||||||||||||
Liabilities | 31-Dec-13 | Level 1 | Level 2 | Level 3 | |||||||||
Deferred compensation liabilities | |||||||||||||
Large capitalization registered investment companies | $ | 405 | $ | 405 | $ | 0 | $ | 0 | |||||
Mid capitalization registered investment companies | 109 | 109 | 0 | 0 | |||||||||
Small capitalization registered investment companies | 95 | 95 | 0 | 0 | |||||||||
International developed and emerging markets registered investment | |||||||||||||
companies | 205 | 205 | 0 | 0 | |||||||||
Fixed income registered investment companies | 43 | 43 | 0 | 0 | |||||||||
Fixed general account | 167 | 0 | 167 | 0 | |||||||||
Acquisition-related consideration | 4,876 | 0 | 0 | 4,876 | |||||||||
Total | $ | 5,900 | $ | 857 | $ | 167 | $ | 4,876 | |||||
Fair Value Measurements at December 31, 2012 | |||||||||||||
Fair Value | Using Fair Value Hierarchy | ||||||||||||
as of | |||||||||||||
Liabilities | 31-Dec-12 | Level 1 | Level 2 | Level 3 | |||||||||
Deferred compensation liabilities | |||||||||||||
Large capitalization registered investment companies | $ | 336 | $ | 336 | $ | 0 | $ | 0 | |||||
Mid capitalization registered investment companies | 88 | 88 | 0 | 0 | |||||||||
Small capitalization registered investment companies | 72 | 72 | 0 | 0 | |||||||||
International developed and emerging markets registered investment | |||||||||||||
companies | 187 | 187 | 0 | 0 | |||||||||
Fixed income registered investment companies | 48 | 48 | 0 | 0 | |||||||||
Fixed general account | 173 | 0 | 173 | 0 | |||||||||
Acquisition-related consideration | 4,901 | 0 | 0 | 4,901 | |||||||||
Total | $ | 5,805 | $ | 731 | $ | 173 | $ | 4,901 | |||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||
Non-competition | |||||||||||||
Earnout | Agreement | ||||||||||||
Summit | Obligation | Total | |||||||||||
Balance at December 31, 2012 | $ | 4,497 | $ | 404 | $ | 4,901 | |||||||
Interest accretion | 697 | 25 | 722 | ||||||||||
Change in fair value estimate | -497 | 0 | -497 | ||||||||||
Payments | 0 | -250 | -250 | ||||||||||
Balance at December 31, 2013 | $ | 4,697 | $ | 179 | $ | 4,876 | |||||||
Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block] | ' | ||||||||||||
Fair value at December 31, 2013 | Valuation technique | Unobservable input | Input value | ||||||||||
Summit earnout | 4,697 | Discounted cash flow | Discount rate | 14.50% | |||||||||
Non-competition agreement obligation | 179 | Discounted cash flow | Discount rate | 14.00% |
Hedging_Activities_Tables
Hedging Activities (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
General Discussion Of Derivative Instruments And Hedging Activities [Abstract] | ' | |||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | ' | |||||||||||
Cash Flow Hedges | ||||||||||||
Interest Rate Swaps | ||||||||||||
For the Years Ended | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Amount of Gain Recognized in | ||||||||||||
Accumulated OCI on Derivative (Effective Portion) | $ | 0 | $ | 272 | $ | 395 | ||||||
Amount and Location of Loss Reclassified from | ||||||||||||
Accumulated OCI into Income (Effective Portion) | Interest Expense | $ | 0 | $ | -392 | $ | -660 | |||||
Amount and Location of Loss Recognized in Income on Derivative | ||||||||||||
(Ineffective Portion and Amount Excluded from Effectiveness Testing) | Other Income | $ | 0 | $ | 0 | $ | 0 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||
Schedule of Operating Lease Maturities [Table Text Block] | ' | |||||
2014 | $ | 4,991 | ||||
2015 | $ | 4,154 | ||||
2016 | $ | 3,507 | ||||
2017 | $ | 1,812 | ||||
2018 | $ | 5 | ||||
2019 and beyond | $ | 0 |
Quarterly_Results_Unaudited_Ta
Quarterly Results - Unaudited (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Quarterly Results (unaudited) [Abstract] | ' | |||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | |||||||||||||
First | Second | Third | Fourth | |||||||||||
Quarter (1) | Quarter (2) | Quarter (3) | Quarter (4) | |||||||||||
2013 | ||||||||||||||
Net sales | $ | 176,193 | $ | 184,846 | $ | 184,059 | $ | 184,297 | ||||||
Gross profit | 62,608 | 67,314 | 65,990 | 65,163 | ||||||||||
Operating income | 17,411 | 19,793 | 18,807 | 15,232 | ||||||||||
Net income attributable to Quaker Chemical Corporation | 13,619 | 16,083 | 12,551 | 14,086 | ||||||||||
Net income attributable to Quaker Chemical Corporation | ||||||||||||||
Common Shareholders - Basic | $ | 1.04 | $ | 1.22 | $ | 0.95 | $ | 1.07 | ||||||
Net income attributable to Quaker Chemical Corporation | ||||||||||||||
Common Shareholders - Diluted | $ | 1.04 | $ | 1.22 | $ | 0.95 | $ | 1.07 | ||||||
2012 | ||||||||||||||
Net sales | $ | 177,638 | $ | 176,797 | $ | 180,923 | $ | 172,868 | ||||||
Gross profit | 59,795 | 60,636 | 59,126 | 59,154 | ||||||||||
Operating income | 16,702 | 16,983 | 15,863 | 13,676 | ||||||||||
Net income attributable to Quaker Chemical Corporation | 12,365 | 11,108 | 10,925 | 13,007 | ||||||||||
Net income attributable to Quaker Chemical Corporation | ||||||||||||||
Common Shareholders - Basic | $ | 0.96 | $ | 0.86 | $ | 0.84 | $ | 0.99 | ||||||
Net income attributable to Quaker Chemical Corporation | ||||||||||||||
Common Shareholders - Diluted | $ | 0.95 | $ | 0.85 | $ | 0.83 | $ | 0.99 |
Significant_Accounting_Policie2
Significant Accounting Policies - Narrative (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Significant Accounting Policies [Abstract] | ' | ' | ' |
Revenue Recognized Under Net Reporting Arrangements | $41,553 | $39,299 | $50,893 |
Research and Development Expense | 21,578 | 19,993 | 18,812 |
Measurement of Tax Benefit, Minimum Likelihood of the Largest Amount Being Realized Upon Ultimate Settlement | 50.00% | ' | ' |
Customer [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Provision for Doubtful Accounts | ' | $1,254 | ' |
Significant_Accounting_Policie3
Significant Accounting Policies - Property, Plant and Equipment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Building and Building Improvements [Member] | Building and Building Improvements [Member] | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Software Development [Member] | Software Development [Member] | ||
Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Useful Life | ' | ' | '45 years | '10 years | '15 years | '1 year | '5 years | '3 years |
Capitalized Computer Software, Net | $1,198 | $2,395 | ' | ' | ' | ' | ' | ' |
Significant_Accounting_Policie4
Significant Accounting Policies - Intangible Assets (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Maximum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Asset, Useful Life | '20 years |
Minimum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Finite-Lived Intangible Asset, Useful Life | '5 years |
Significant_Accounting_Policie5
Significant Accounting Policies - Concentration Risk (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Top Five Customers Concentration Risk [Member] | ' |
Concentration Risk [Line Items] | ' |
Concentration Risk, Percentage | 18.00% |
Top Customer Concentration Risk [Member] | ' |
Concentration Risk [Line Items] | ' |
Concentration Risk, Percentage | 9.00% |
Significant_Accounting_Policie6
Significant Accounting Policies - Share-Based Compensation (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Equity Award Vesting Period | '3 years |
Forfeiture rate, Nonvested Stock Awards | 13.00% |
Employee Stock Option [Member] | Maximum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Equity Award Vesting Period | '3 years |
Options, Maximum Exercisable Life | '7 years |
Employee Stock Option [Member] | Minimum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Equity Award Vesting Period | '1 year |
Restricted Stock [Member] | Maximum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Equity Award Vesting Period | '5 years |
Restricted Stock [Member] | Minimum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Equity Award Vesting Period | '3 years |
GAIP Plan [Member] | Maximum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Equity Award Vesting Period | '5 years |
GAIP Plan [Member] | Minimum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Equity Award Vesting Period | '2 years |
Restricted Stock Units (RSUs) [Member] | Maximum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Equity Award Vesting Period | '5 years |
Restricted Stock Units (RSUs) [Member] | Minimum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Equity Award Vesting Period | '3 years |
Out_Of_Period_Adjustment_Detai
Out Of Period Adjustment (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2013 |
Accounting Changes And Error Corrections [Abstract] | ' |
Immaterial Error Correction | 'During the first quarter of 2013, the Company identified errors in Primex’s estimated 2012 financial statements, which primarily related to a reinsurance contract held by Primex. The identified errors resulted in a cumulative $1,038 understatement of the Company’s equity in net income from associated companies for the year ended December 31, 2012. The Company corrected the errors related to Primex in the first quarter of 2013, which had the net effect of increasing equity in net income from associated companies by $1,038 for the three months ended March 31, 2013 and the year ended December 31, 2013. The Company does not believe this adjustment is material to its consolidated financial statements for the year ended December 31, 2012 or to the Company’s results for the year ended December 31, 2013 and, therefore, did not restate any prior period amounts. |
Amount of Immaterial Misstatement | $1,038 |
Segments_Table_Details
Segments Table (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $184,297 | $184,059 | $184,846 | $176,193 | $172,868 | $180,923 | $176,797 | $177,638 | $729,395 | $708,226 | $683,231 |
Operating income for reportable segments | 142,500 | ' | ' | ' | 126,971 | ' | ' | ' | 142,500 | 126,971 | 124,274 |
Segment assets | 584,146 | ' | ' | ' | 536,634 | ' | ' | ' | 584,146 | 536,634 | ' |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 11,439 | 12,735 | 12,117 |
North America [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 308,353 | 310,127 | 268,519 |
Operating income for reportable segments | 61,307 | ' | ' | ' | 58,571 | ' | ' | ' | 61,307 | 58,571 | 48,342 |
Segment assets | 304,069 | ' | ' | ' | 284,362 | ' | ' | ' | 304,069 | 284,362 | 289,761 |
Long-Lived Assets | 91,464 | ' | ' | ' | 91,121 | ' | ' | ' | 91,464 | 91,121 | 90,800 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 2,793 | 3,262 | 5,185 |
Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 5,236 | 5,635 | 4,739 |
North America [Member] | Non Domestic [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 29,002 | 27,125 | 12,818 |
Long-Lived Assets | 3,649 | ' | ' | ' | 3,716 | ' | ' | ' | 3,649 | 3,716 | 3,576 |
North America [Member] | Intersegment Sales Elimination [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 8,984 | 10,026 | 13,728 |
EMEA [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 187,794 | 174,799 | 184,063 |
Operating income for reportable segments | 29,643 | ' | ' | ' | 24,640 | ' | ' | ' | 29,643 | 24,640 | 32,145 |
Segment assets | 104,774 | ' | ' | ' | 102,159 | ' | ' | ' | 104,774 | 102,159 | 88,494 |
Long-Lived Assets | 20,863 | ' | ' | ' | 20,056 | ' | ' | ' | 20,863 | 20,056 | 19,243 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 1,391 | 3,332 | 2,442 |
Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 3,145 | 2,906 | 2,922 |
EMEA [Member] | Intersegment Sales Elimination [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 20,135 | 15,414 | 17,246 |
Asia Pacific [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 169,505 | 157,062 | 151,468 |
Operating income for reportable segments | 42,373 | ' | ' | ' | 37,030 | ' | ' | ' | 42,373 | 37,030 | 32,145 |
Segment assets | 129,894 | ' | ' | ' | 101,760 | ' | ' | ' | 129,894 | 101,760 | 81,086 |
Long-Lived Assets | 24,695 | ' | ' | ' | 19,720 | ' | ' | ' | 24,695 | 19,720 | 15,225 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 6,386 | 5,451 | 2,614 |
Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 2,080 | 1,720 | 1,774 |
Asia Pacific [Member] | Intersegment Sales Elimination [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 504 | 321 | 399 |
South America [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 63,743 | 66,238 | 79,181 |
Operating income for reportable segments | 9,177 | ' | ' | ' | 6,730 | ' | ' | ' | 9,177 | 6,730 | 11,642 |
Segment assets | 45,409 | ' | ' | ' | 48,353 | ' | ' | ' | 45,409 | 48,353 | 51,811 |
Long-Lived Assets | 4,130 | ' | ' | ' | 5,276 | ' | ' | ' | 4,130 | 5,276 | 6,577 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 869 | 690 | 1,876 |
Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | 1,211 | 1,333 | 1,454 |
South America [Member] | Intersegment Sales Elimination [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Total [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment assets | 584,146 | ' | ' | ' | 536,634 | ' | ' | ' | 584,146 | 536,634 | 511,152 |
Long-Lived Assets | 141,152 | ' | ' | ' | 136,173 | ' | ' | ' | 141,152 | 136,173 | 131,845 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 11,439 | 12,735 | 12,117 |
Depreciation | ' | ' | ' | ' | ' | ' | ' | ' | $11,672 | $11,594 | $10,889 |
Segments_Reconciliation_Detail
Segments Reconciliation (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reconciliation From Segment Totals To Consolidated Abstract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income for reportable segments | $142,500 | ' | ' | ' | $126,971 | ' | ' | ' | $142,500 | $126,971 | $124,274 |
Non-operating Charges | ' | ' | ' | ' | ' | ' | ' | ' | -67,145 | -59,983 | -58,689 |
Depreciation of corporate assets and amortization | ' | ' | ' | ' | ' | ' | ' | ' | -4,112 | -3,764 | -2,904 |
Operating income | 15,232 | 18,807 | 19,793 | 17,411 | 13,676 | 15,863 | 16,983 | 16,702 | 71,243 | 63,224 | 57,912 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -2,922 | -4,283 | -4,666 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 986 | 592 | 1,081 |
Other income, net | ' | ' | ' | ' | ' | ' | ' | ' | 3,519 | 3,415 | 5,050 |
Income before taxes and equity in net income of associated companies | ' | ' | ' | ' | ' | ' | ' | ' | $72,826 | $62,948 | $59,377 |
Segments_Product_Lines_Details
Segments - Product Lines (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Rolling Lubricants Product Line [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 20.70% | 20.70% | 22.00% |
Machining And Grinding Compounds Product Line [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 17.70% | 17.60% | 18.80% |
Hydraulic Fluids Product Line [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 12.90% | 13.50% | 12.90% |
Corrosion Preventives Product Line [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 12.50% | 12.40% | 11.50% |
Stock_Based_Compensation_Narra
Stock Based Compensation - Narrative (Details) (USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 |
Share-based Compensation [Abstract] | ' |
Exercised Options, Intrinsic Value | $2,237 |
Outstanding Options, Intrinsic Value | 2,462 |
Exercisable Options, Intrinsic Value | 578 |
Equity Award Vesting Period | '3 years |
Share Based Compensation [Line Items] | ' |
ESPP: Purchase Price Percentage | 85.00% |
ESPP: Discount from Market Price | 15.00% |
ESPP: Maximum Ownership of Outstanding Shares | 'An employee whose stock ownership of the Company exceeds five percent of the outstanding common stock is not eligible to participate in this plan. |
Director Stock Ownership Plan Maximum Number of Shares Authorized Under Plan | 75,000 |
Director Stock Ownership Plan Terms | 'Under the Plan, each director who, on May 1st of the applicable calendar year, owns less than 400% of the annual cash retainer for the applicable calendar year, divided by the average of the closing price of a share of Quaker Common Stock as reported by the composite tape of the New York Stock Exchange for the previous calendar year (the “Threshold Amount”), is required to receive 75% of the annual cash retainer in Quaker common stock and 25% of the retainer in cash, unless the director elects to receive a greater percentage of Quaker common stock (up to 100%) of the annual cash retainer for the applicable year. Each director who owns more than the Threshold Amount may elect to receive common stock in payment of a percentage (up to 100%) of the annual cash retainer. |
Director Retainer Annual Fee | 50 |
Restricted Stock [Member] | ' |
Share Based Compensation [Line Items] | ' |
Unrecognized Share-based Compensation Expense, Nonvested Stock Award | 2,772 |
Weighted Average Remaining Life, Nonvested Stock Awards | '2 years 4 months |
Restricted Stock Units (RSUs) [Member] | ' |
Share Based Compensation [Line Items] | ' |
Unrecognized Share-based Compensation Expense, Nonvested Stock Award | $114 |
Weighted Average Remaining Life, Nonvested Stock Awards | '2 years 2 months |
Stock_Based_Compensation_Expen
Stock Based Compensation - Expense Table (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stock Options Compensation Expense [Member] | ' | ' | ' |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based Compensation Expense | $517 | $542 | $482 |
Nonvested Stock Awards Compensation Expense [Member] | ' | ' | ' |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based Compensation Expense | 1,900 | 1,504 | 1,430 |
Employee Stock Purchase Plan Compensation Expense [Member] | ' | ' | ' |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based Compensation Expense | 60 | 48 | 44 |
Matching Stock Contribution 401 K Plan Compensation Expense [Member] | ' | ' | ' |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based Compensation Expense | 1,612 | 1,653 | 1,497 |
Directors Stock Ownership Plan Compensation Expense [Member] | ' | ' | ' |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based Compensation Expense | 72 | 60 | 60 |
Total Sharebased Compensation Expense [Member] | ' | ' | ' |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based Compensation Expense | $4,161 | $3,807 | $3,513 |
Stock_Based_Compensation_Exces
Stock Based Compensation - Excess Tax Benefits (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | $815 | $2,045 | $109 |
Excess tax benefit from stock option exercises | $815 | $2,045 | $109 |
StockBased_Compensation_Option
Stock-Based Compensation - Option Rollforward (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Roll [Forward] | ' | ' |
Beginning Balance | 107,455 | 253,342 |
Options Granted | 29,302 | 40,157 |
Options Exercised | -57,137 | -177,574 |
Options Forfeited | -3,601 | -8,470 |
Options Expired | -768 | 0 |
Ending Balance | 75,251 | 107,455 |
Options Exerciseable | 11,840 | 17,360 |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price [Abstract] | ' | ' |
Outstanding at beginning of year | $31.23 | $16.43 |
Options Granted | $58.26 | $38.57 |
Options Exercised | $27.12 | $11.87 |
Options Forfeited | $37.81 | $29.32 |
Options Expired | $37.37 | $0 |
Outstanding at End of Period | $44.49 | $31.23 |
Options Exerciseable | $28.42 | $28.81 |
Share Based Compensation Arrangement By Share Based Payment Award Options Additional Disclosures [Abstract] | ' | ' |
Weighted Average Remaining Contractual Term, Outstanding | '5 years 2 months | '5 years 1 month |
Weighted Average Remaining Contractual Term, Exercisable | '3 years 11 months | '4 years 5 months |
StockBased_Compensation_Option1
Stock-Based Compensation - Option Summary (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
$0.00 - $10.00 | ' |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | ' |
Exercise Price Range, Lower Range Limit | $0 |
Exercise Price Range, Upper Range Limit | $10 |
Number of Outstanding Options, Exercise Price Range | 0 |
Weighted Average Contractual Life, Outstanding Options, Exercise Price Range | '0 years |
Weighted Average Exercise Price, Outstanding Options, Exercise Price Range | $0 |
Number of Exercisable Options, Exercise Price Range | 0 |
Weighted Average Exercise Price, Exercisable Options, Exercise Price Range | $0 |
$10.01 - $20.00 | ' |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | ' |
Exercise Price Range, Lower Range Limit | $10.01 |
Exercise Price Range, Upper Range Limit | $20 |
Number of Outstanding Options, Exercise Price Range | 6,155 |
Weighted Average Contractual Life, Outstanding Options, Exercise Price Range | '3 years 1 month |
Weighted Average Exercise Price, Outstanding Options, Exercise Price Range | $18.82 |
Number of Exercisable Options, Exercise Price Range | 6,155 |
Weighted Average Exercise Price, Exercisable Options, Exercise Price Range | $18.82 |
$20.01 - $30.00 | ' |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | ' |
Exercise Price Range, Lower Range Limit | $20.01 |
Exercise Price Range, Upper Range Limit | $30 |
Number of Outstanding Options, Exercise Price Range | 0 |
Weighted Average Contractual Life, Outstanding Options, Exercise Price Range | '0 years |
Weighted Average Exercise Price, Outstanding Options, Exercise Price Range | $0 |
Number of Exercisable Options, Exercise Price Range | 0 |
Weighted Average Exercise Price, Exercisable Options, Exercise Price Range | $0 |
$30.01 - $40.00 | ' |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | ' |
Exercise Price Range, Lower Range Limit | $30.01 |
Exercise Price Range, Upper Range Limit | $40 |
Number of Outstanding Options, Exercise Price Range | 37,602 |
Weighted Average Contractual Life, Outstanding Options, Exercise Price Range | '4 years 10 months |
Weighted Average Exercise Price, Outstanding Options, Exercise Price Range | $37.86 |
Number of Exercisable Options, Exercise Price Range | 4,954 |
Weighted Average Exercise Price, Exercisable Options, Exercise Price Range | $37.73 |
$40.01 - $50.00 | ' |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | ' |
Exercise Price Range, Lower Range Limit | $40.01 |
Exercise Price Range, Upper Range Limit | $50 |
Number of Outstanding Options, Exercise Price Range | 2,192 |
Weighted Average Contractual Life, Outstanding Options, Exercise Price Range | '5 years 6 months |
Weighted Average Exercise Price, Outstanding Options, Exercise Price Range | $46.21 |
Number of Exercisable Options, Exercise Price Range | 731 |
Weighted Average Exercise Price, Exercisable Options, Exercise Price Range | $46.21 |
Total | ' |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | ' |
Number of Outstanding Options, Exercise Price Range | 75,251 |
Weighted Average Contractual Life, Outstanding Options, Exercise Price Range | '5 years 2 months |
Weighted Average Exercise Price, Outstanding Options, Exercise Price Range | $44.49 |
Number of Exercisable Options, Exercise Price Range | 11,840 |
Weighted Average Exercise Price, Exercisable Options, Exercise Price Range | $28.42 |
StockBased_Compensation_Option2
Stock-Based Compensation - Options Grants (Details) | 3 Months Ended | 12 Months Ended | |||
Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Options Granted | ' | 29,302 | 40,157 | ' | ' |
Stock Options [Member] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Options Granted | 2,192 | 29,302 | 37,965 | 36,835 | 110,939 |
Dividend Yield | 2.69% | 2.49% | 3.09% | 5.00% | 5.10% |
Expected Volatility | 69.09% | 57.28% | 69.90% | 62.13% | 53.72% |
Risk-free Interest Rate | 0.58% | 0.63% | 0.61% | 1.99% | 2.85% |
Expected Term (Years) | '4 years | '4 years | '4 years | '5 years | '6 years |
StockBased_Compensation_Option3
Stock-Based Compensation - Option Expense (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current Year Stock Option Awards [Member] | ' | ' | ' |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based Compensation Expense | $174 | $0 | $0 |
Unrecognized Compensation Expense, Options | 464 | ' | ' |
Prior Year Stock Option Awards [Member] | ' | ' | ' |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based Compensation Expense | 189 | 167 | 0 |
Unrecognized Compensation Expense, Options | 240 | ' | ' |
Second Prior Year Stock Option Awards [Member] | ' | ' | ' |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based Compensation Expense | 138 | 164 | 139 |
Unrecognized Compensation Expense, Options | 24 | ' | ' |
Third Prior Year Stock Option Awards [Member] | ' | ' | ' |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based Compensation Expense | $16 | $193 | $224 |
StockBased_Compensation_Restri
Stock-Based Compensation - Restricted Stock Rollforward (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Restricted Stock [Member] | ' |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested [Roll Forward] | ' |
Beginning Balance | 122,944 |
Nonvested Stock Awards Granted | 51,659 |
Nonvested Stock Awards Vested | -51,981 |
Nonvested Stock Awards Forfeited | -6,638 |
Ending Balance | 115,984 |
Weighted Average Grant Date Fair Value, Nonvested Stock Awards, Beginning of Period | $31.98 |
Weighted Average Grant Date Fair Value, Nonvested Stock Awards Granted | $61.56 |
Weighted Average Grant Date Fair Value, Nonvested Stock Awards Vested | $26.02 |
Weighted Average Grant Date Fair Value, Nonvested Stock Awards Forfeited | $41.70 |
Weighted Average Grant Date Fair Value, Nonvested Stock Awards, End of Period | $47.27 |
Restricted Stock Units (RSUs) [Member] | ' |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested [Roll Forward] | ' |
Beginning Balance | 2,100 |
Nonvested Stock Awards Granted | 1,918 |
Nonvested Stock Awards Vested | 0 |
Nonvested Stock Awards Forfeited | 0 |
Ending Balance | 4,018 |
Weighted Average Grant Date Fair Value, Nonvested Stock Awards, Beginning of Period | $38.13 |
Weighted Average Grant Date Fair Value, Nonvested Stock Awards Granted | $62.39 |
Weighted Average Grant Date Fair Value, Nonvested Stock Awards Vested | $0 |
Weighted Average Grant Date Fair Value, Nonvested Stock Awards Forfeited | $0 |
Weighted Average Grant Date Fair Value, Nonvested Stock Awards, End of Period | $49.71 |
Other_Income_Expense_Details
Other Income (Expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Income and Expenses [Abstract] | ' | ' | ' |
Proceeds From Non Income Tax Refunds | $2,876 | $358 | $244 |
Change in Fair Value Estimate | 497 | 2,770 | 595 |
Gain on Revaluation of Existing Equity Interest in Step Purchase | 0 | 0 | 2,718 |
Licenses Revenue | 1,027 | 1,264 | 1,652 |
Foreign Currency Transaction Gain (Loss), Realized | -1,076 | -1,034 | -482 |
Impairment of Long-Lived Assets Held-for-use | -211 | 0 | 0 |
Other Nonoperating Income | 629 | 362 | 591 |
Other Nonoperating Expense | -223 | -305 | -268 |
Other Income, Net | $3,519 | $3,415 | $5,050 |
Income_Taxes_Components_of_Exp
Income Taxes - Components of Expense and Earnings (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current Income Tax Expense (Benefit) [Abstract] | ' | ' | ' |
Federal | $7,216 | $3,318 | $3,485 |
State | 263 | -69 | 385 |
Foreign | 13,040 | 9,972 | 7,955 |
Current Income Tax Expense (Benefit), Total | 20,519 | 13,221 | 11,825 |
Deferred Income Tax Expense (Benefit) [Abstract] | ' | ' | ' |
Federal | 155 | 4,409 | 2,022 |
State | 138 | -794 | 0 |
Foreign | -323 | -1,261 | 409 |
Income Tax Expense (Benefit), Total | 20,489 | 15,575 | 14,256 |
Components Of Earnings Before Taxes [Abstract] | ' | ' | ' |
Domestic | 25,900 | 26,520 | 24,071 |
Foreign | 46,926 | 36,428 | 35,306 |
Income before taxes and equity in net income of associated companies | $72,826 | $62,948 | $59,377 |
Income_Taxes_Deferred_Tax_Bala
Income Taxes - Deferred Tax Balances (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current [Member] | ' | ' |
Retirement benefits | $585 | $614 |
Allowance for doubtful accounts | 1,990 | 1,984 |
Insurance and litigation reserves | 677 | 580 |
Postretirement benefits | 0 | 0 |
Supplemental retirement benefits | 0 | 0 |
Performance incentives | 3,858 | 3,002 |
Equity-based compensation | 351 | 349 |
Alternative minimum tax carryforward | 0 | 0 |
Insurance settlement | 6 | 10 |
Operating loss carryforward | 0 | 0 |
Uncertain tax positions | 0 | 0 |
Interest rate swaps and other | 975 | 679 |
Deferred Tax Assets, Gross, Total | 8,442 | 7,218 |
Valuation allowance | -924 | -710 |
Total deferred income tax assets, net | 7,518 | 6,508 |
Depreciation | 0 | 0 |
Europe Pension and Other | 0 | 0 |
Amortization and other | 749 | 360 |
Total deferred income tax liabilities | 749 | 360 |
Non Current [Member] | ' | ' |
Retirement benefits | 9,371 | 14,397 |
Allowance for doubtful accounts | 0 | 0 |
Insurance and litigation reserves | 126 | 260 |
Postretirement benefits | 1,951 | 2,543 |
Supplemental retirement benefits | 3,010 | 2,501 |
Performance incentives | 686 | 520 |
Equity-based compensation | 585 | 395 |
Alternative minimum tax carryforward | 0 | 0 |
Insurance settlement | 9,071 | 9,425 |
Operating loss carryforward | 9,228 | 9,425 |
Uncertain tax positions | 5,806 | 7,700 |
Interest rate swaps and other | 888 | 1,039 |
Deferred Tax Assets, Gross, Total | 40,722 | 48,205 |
Valuation allowance | -6,742 | -7,148 |
Total deferred income tax assets, net | 33,980 | 41,057 |
Depreciation | 4,712 | 5,069 |
Europe Pension and Other | 2,343 | 2,552 |
Amortization and other | 8,595 | 9,146 |
Total deferred income tax liabilities | $15,650 | $16,767 |
Income_Taxes_Valuation_Allowan
Income Taxes - Valuation Allowance Rollforward (Details) (Valuation Allowance of Deferred Tax Assets [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Valuation Allowance of Deferred Tax Assets [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Valuation Allowances, Beginning Balance | $7,858 | $1,377 | $4,923 |
Additional Valuation Allowance | 26 | 6,594 | 348 |
Allowance Utilization and Other | -1 | -34 | -3,753 |
Effect of Exchange Rate Changes | -217 | -79 | -141 |
Valuation Allowance, Ending Balance | $7,666 | $7,858 | $1,377 |
Income_Taxes_Net_Deferred_Bala
Income Taxes - Net Deferred Balances (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Taxes on Income and Uncertain Tax Positions [Abstract] | ' | ' |
Current deferred tax assets | $7,826 | $6,401 |
Deferred Tax Assets Net Noncurrent | 24,724 | 30,673 |
Current deferred tax liabilities | 1,057 | 253 |
Non-current deferred tax liabilities | 6,394 | 6,383 |
Deferred Tax Assets, Net, Total | $25,099 | $30,438 |
Income_Taxes_Rate_Reconciliati
Income Taxes - Rate Reconciliation (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | ' | ' | ' |
Income Tax Provision at the Federal Statutory Tax Rate | $25,489 | $22,032 | $20,782 |
Differences in Tax Rates on Foreign Earnings and Remittances | -2,487 | -3,207 | -3,692 |
Foreign Dividends | 1,922 | 815 | 735 |
Excess Foreign Tax Credit Utilization | -3,664 | -2,237 | -2,493 |
Research and Development Activities Credit Utilization | -200 | 0 | -1,348 |
Uncertain Tax Positions | -589 | -1,196 | 701 |
Domestic Production Activities Deduction | -560 | -402 | 0 |
State Income Tax Provisions, Net | 171 | -45 | 250 |
Non-deductible Entertainment and Business Meals Expense | 229 | 200 | 166 |
Non-taxable Gain on Acquisition | 0 | 0 | -951 |
Miscellaneous Items, Net | 178 | -385 | 106 |
Income Tax Expense (Benefit), Total | $20,489 | $15,575 | $14,256 |
Income_Taxes_Narrative_Details
Income Taxes - Narrative (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Undistributed Earnings of Foreign Subsidiaries | $188,000 |
Domestic Country [Member] | ' |
Deferred Tax Assets, Net | 12,695 |
Foreign Tax Authority [Member] | ' |
Operating Loss Carryforwards | 12,160 |
Operating Loss Carryforwards, Valuation Allowance | 2,104 |
Foreign Tax Authority [Member] | Expiration In Next Year [Member] | ' |
Operating Loss Carryforwards | 15 |
Foreign Tax Authority [Member] | Expiration In Year Two [Member] | ' |
Operating Loss Carryforwards | 352 |
Foreign Tax Authority [Member] | Expiration In Year Three [Member] | ' |
Operating Loss Carryforwards | 119 |
Foreign Tax Authority [Member] | Expiration In Year Four [Member] | ' |
Operating Loss Carryforwards | 344 |
Foreign Tax Authority [Member] | Expiration In Year Five [Member] | ' |
Operating Loss Carryforwards | 619 |
Foreign Tax Authority [Member] | Expiration In Year Six [Member] | ' |
Operating Loss Carryforwards | 291 |
Foreign Tax Authority [Member] | Expiration In Year Seven [Member] | ' |
Operating Loss Carryforwards | 102 |
Foreign Tax Authority [Member] | Expiration In Year Eight [Member] | ' |
Operating Loss Carryforwards | 245 |
Foreign Tax Authority [Member] | Expiration In Year Nine [Member] | ' |
Operating Loss Carryforwards | $258 |
Income_Taxes_Uncertain_Tax_Pos
Income Taxes - Uncertain Tax Positions - Narrative (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2014 | Dec. 31, 2010 |
Uncertain Tax Positions [Abstract] | ' | ' | ' | ' | ' |
Unrecognized Tax Benefits | $12,596 | $12,410 | $12,719 | ' | $10,464 |
Accrued Interest | 2,108 | 2,288 | ' | ' | ' |
Accrued Penalties | 2,100 | 1,630 | ' | ' | ' |
Unrecognized Tax Benefits, Interest on Income Taxes Expense | -247 | -26 | 529 | ' | ' |
Unrecognized Tax Benefits, Income Tax Penalties Expense | 392 | 301 | 502 | ' | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Estimated Range of Change, Lower Bound | ' | ' | ' | 1,700 | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Estimated Range of Change, Upper Bound | ' | ' | ' | 1,800 | ' |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $1,194 | $1,652 | $2,966 | ' | ' |
Internal Revenue Service (IRS) [Member] | ' | ' | ' | ' | ' |
Income Tax Examination [Line Items] | ' | ' | ' | ' | ' |
Income Tax Examination, Year under Examination | '2010 | ' | ' | ' | ' |
Foreign Tax Authority [Member] | The Netherlands [Member] | ' | ' | ' | ' | ' |
Income Tax Examination [Line Items] | ' | ' | ' | ' | ' |
Income Tax Examination, Year under Examination | '2007 | ' | ' | ' | ' |
Foreign Tax Authority [Member] | United Kingdom [Member] | ' | ' | ' | ' | ' |
Income Tax Examination [Line Items] | ' | ' | ' | ' | ' |
Income Tax Examination, Year under Examination | '2008 | ' | ' | ' | ' |
Foreign Tax Authority [Member] | Brazil [Member] | ' | ' | ' | ' | ' |
Income Tax Examination [Line Items] | ' | ' | ' | ' | ' |
Income Tax Examination, Year under Examination | '2000 | ' | ' | ' | ' |
Foreign Tax Authority [Member] | Spain [Member] | ' | ' | ' | ' | ' |
Income Tax Examination [Line Items] | ' | ' | ' | ' | ' |
Income Tax Examination, Year under Examination | '2009 | ' | ' | ' | ' |
Foreign Tax Authority [Member] | China [Member] | ' | ' | ' | ' | ' |
Income Tax Examination [Line Items] | ' | ' | ' | ' | ' |
Income Tax Examination, Year under Examination | '2010 | ' | ' | ' | ' |
Foreign Tax Authority [Member] | Italy [Member] | ' | ' | ' | ' | ' |
Income Tax Examination [Line Items] | ' | ' | ' | ' | ' |
Income Tax Examination, Year under Examination | '2010 | ' | ' | ' | ' |
State and Local Jurisdiction [Member] | ' | ' | ' | ' | ' |
Income Tax Examination [Line Items] | ' | ' | ' | ' | ' |
Income Tax Examination, Year under Examination | '1993 | ' | ' | ' | ' |
Income_Taxes_Uncertain_Tax_Pos1
Income Taxes - Uncertain Tax Positions - Tabular Reconciliation (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Unrecognized Tax Benefits, Beginning Balance | $12,410 | $12,719 | $10,464 |
Increase in Unrecognized Tax Benefits Taken in Prior Periods | 83 | 0 | 1,597 |
(Decrease) in unrecognized tax benefits taken in prior periods | 0 | -411 | 0 |
Increase in Unrecognized Tax Benefits Taken in Current Period | 2,182 | 1,733 | 2,623 |
(Decrease) in Unrecognized Tax Benefits Due to Lapse of Statute of Limitations | -2,485 | -1,837 | -1,578 |
Increase (Decrease) Due to Foreign Exchange Rates | 406 | 206 | -387 |
Unrecognized Tax Benefits, Ending Balance | $12,596 | $12,410 | $12,719 |
Earnings_Per_Share_Basic_Detai
Earnings Per Share - Basic (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Quaker Chemical Corporation | $14,086 | $12,551 | $16,083 | $13,619 | $13,007 | $10,925 | $11,108 | $12,365 | $56,339 | $47,405 | $45,892 |
Less: Income Allocated to Participating Securities | ' | ' | ' | ' | ' | ' | ' | ' | -481 | -526 | -825 |
Net income available to common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | $55,858 | $46,879 | $45,067 |
Basic weighted average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 13,044,842 | 12,871,703 | 12,159,958 |
Basic earnings per common share | $1.07 | $0.95 | $1.22 | $1.04 | $0.99 | $0.84 | $0.86 | $0.96 | $4.28 | $3.64 | $3.71 |
Earnings_Per_Share_Diluted_Det
Earnings Per Share - Diluted (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Quaker Chemical Corporation | $14,086 | $12,551 | $16,083 | $13,619 | $13,007 | $10,925 | $11,108 | $12,365 | $56,339 | $47,405 | $45,892 |
Less: income allocated to participating securities | ' | ' | ' | ' | ' | ' | ' | ' | -481 | -524 | -817 |
Net income available to common shareholders | ' | ' | ' | ' | ' | ' | ' | ' | $55,858 | $46,881 | $45,075 |
Basic weighted average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 13,044,842 | 12,871,703 | 12,159,958 |
Effect of Dilutive Securities | ' | ' | ' | ' | ' | ' | ' | ' | 24,770 | 58,798 | 158,215 |
Diluted weighted average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 13,069,612 | 12,930,501 | 12,318,173 |
Diluted earnings per common share | $1.07 | $0.95 | $1.22 | $1.04 | $0.99 | $0.83 | $0.85 | $0.95 | $4.27 | $3.63 | $3.66 |
Earnings_Per_Share_Antidilutiv
Earnings Per Share - Antidilutive Shares (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Earnings Per Share [Abstract] | ' | ' | ' |
Antidilutive Shares | 2,863 | 4,417 | 11,683 |
Accounts_Receivable_Narrative_
Accounts Receivable - Narrative (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Accounts Receivable and Allowance for Doubtful Accounts [Abstract] | ' | ' | ' |
Accounts Receivable Gross Current | $172,762 | $160,596 | ' |
Accounts Receivable Greater Than 90 Days Past Due | 11,345 | 9,401 | ' |
Business Combination, Acquired Receivables, Estimated Uncollectible | $0 | $416 | $146 |
Allowance_For_Doubtful_Account
Allowance For Doubtful Accounts - Rollforward (Details) (Allowance for Doubtful Accounts [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for Doubtful Accounts [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Beginning Balance | $6,399 | $4,569 | $4,278 |
Charged to Costs and Expenses | 1,136 | 2,072 | 855 |
Write-Offs Charged to Allowance | -407 | -737 | -607 |
Effect of Exchange Rate Changes | 5 | 495 | 43 |
Ending Balance | $7,133 | $6,399 | $4,569 |
Inventory_Details
Inventory (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventories [Abstract] | ' | ' |
Raw Materials And Supplies | $37,063 | $40,417 |
Work-In-Process and Finished Goods | 34,494 | 32,054 |
Inventories | $71,557 | $72,471 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property Plant And Equipment Gross Abstract | ' | ' |
Land | $8,510 | $8,346 |
Building and Improvements | 80,644 | 72,292 |
Machinery and Equipment | 136,549 | 134,754 |
Construction In Progress | 8,162 | 9,785 |
Property, Plant and Equipment, Gross, Total | 233,865 | 225,177 |
Less: Accumulated Depreciation | -148,377 | -140,065 |
Property, Plant and Equipment, Net, Total | $85,488 | $85,112 |
Property_Plant_and_Equipment_N
Property, Plant and Equipment - Narrative (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Abstract] | ' | ' |
Capital Leased Assets Gross | $793 | $1,275 |
Accumulated Depreciation, Leased Assets | $380 | $569 |
Property_Plant_and_Equipment_C
Property, Plant and Equipment - Capital Leases (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments Abstract | ' |
Capital Leases Future Minimum Payments, Due Current | $141 |
Capital Leases Future Minimum Payments, Due In Two Years | 96 |
Capital Leases Future Minimum Payments, Due In Three Years | 65 |
Capital Leases Future Minimum Payments, Due In Four Years | 59 |
Capital Leases Future Minimum Payments, Due In Five Years | 0 |
Capital Leases Future Minimum Payments, Due Thereafter | 0 |
Capital Leases, Future Minimum Payments Due, Total | 361 |
Less: Amount Representing Interest | -18 |
Present Value of Net Minimum Lease Payments | $343 |
Goodwill_Assets_Details
Goodwill Assets (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill Roll Forward | ' | ' |
Goodwill, Beginning Balance | $59,169 | $58,152 |
Goodwill, Acquired During Period | 277 | 1,786 |
Goodwill, Translation Adjustments | -1,295 | -769 |
Goodwill, Ending Balance | 58,151 | 59,169 |
North America [Member] | ' | ' |
Goodwill Roll Forward | ' | ' |
Goodwill, Beginning Balance | 28,535 | 28,128 |
Goodwill, Acquired During Period | 277 | 0 |
Goodwill, Translation Adjustments | -685 | 407 |
Goodwill, Ending Balance | 28,127 | 28,535 |
EMEA [Member] | ' | ' |
Goodwill Roll Forward | ' | ' |
Goodwill, Beginning Balance | 11,411 | 11,184 |
Goodwill, Acquired During Period | 0 | 1,786 |
Goodwill, Translation Adjustments | -227 | -1,559 |
Goodwill, Ending Balance | 11,184 | 11,411 |
Asia Pacific [Member] | ' | ' |
Goodwill Roll Forward | ' | ' |
Goodwill, Beginning Balance | 15,323 | 15,018 |
Goodwill, Acquired During Period | 0 | 0 |
Goodwill, Translation Adjustments | -305 | 305 |
Goodwill, Ending Balance | 15,018 | 15,323 |
South America [Member] | ' | ' |
Goodwill Roll Forward | ' | ' |
Goodwill, Beginning Balance | 3,900 | 3,822 |
Goodwill, Acquired During Period | 0 | 0 |
Goodwill, Translation Adjustments | -78 | 78 |
Goodwill, Ending Balance | $3,822 | $3,900 |
Intangible_Assets_Details
Intangible Assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite Lived Intangible Assets Gross [Abstract] | ' | ' |
Finite Lived Customer Lists, Gross | $33,559 | $32,356 |
Finite Lived Trademarks, Gross | 6,838 | 6,760 |
Formulations And Product Technology | 5,808 | 5,278 |
Other Finite Lived Intangible Assets, Gross | 5,544 | 5,467 |
Total | 51,749 | 49,861 |
Finite Lived Intangible Assets Accumulated Amortization [Abstract] | ' | ' |
Finite Lived Intangible Assets Accumulated Amortization Customer Lists | 10,221 | 8,192 |
Finite Lived Intangible Assets Accumulated Amortization Trademarks | 3,202 | 2,548 |
Finite Lived Intangible Assets Accumulated Amortization Formulations | 3,709 | 3,423 |
Finite Lived Intangible Assets Accumulated Amortization Other | 4,445 | 3,989 |
Total | 21,577 | 18,152 |
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract] | ' | ' |
For the Year ended December 31, 2013 | 3,254 | ' |
For the Year ended December 31, 2014 | 3,254 | ' |
For the Year ended December 31, 2015 | 2,775 | ' |
For the Year ended December 31, 2016 | 2,112 | ' |
For the Year ended December 31, 2017 | 2,089 | ' |
Indefinite Lived Intangible Assets Excluding Goodwill [Abstract] | ' | ' |
Indefinite Lived Trademarks | $1,100 | $1,100 |
Intangible_Assets_Amortization
Intangible Assets - Amortization (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Amortization | $3,445 | $3,106 | $2,338 |
Investments_in_Associated_Comp1
Investments in Associated Companies - Narrative (Details) (USD $) | 3 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 3 Months Ended | ||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 |
Nippon Quaker (Japan) [Member] | Nippon Quaker (Japan) [Member] | Kelko (Venezuela) [Member] | Kelko (Venezuela) [Member] | Kelko (Venezuela) [Member] | Kelko (Panama) [Member] | Kelko (Panama) [Member] | TQM (Mexico) [Member] | Primex (Barbados) [Member] | Primex (Barbados) [Member] | Primex (Barbados) [Member] | Primex (Barbados) [Member] | Primex (Barbados) [Member] | Primex (Barbados) [Member] | ||||
Asia Pacific [Member] | South America [Member] | South America [Member] | Revenue [Member] | Income Before Income Taxes [Member] | Equity Affiliate Net Income [Member] | North America [Member] | |||||||||||
Schedule Of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment Ownership Percentage | ' | ' | ' | 50.00% | ' | ' | 50.00% | ' | 50.00% | ' | ' | ' | 33.00% | ' | ' | ' | ' |
Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' |
Currency Devaluation Adjustment | ' | ' | ' | ' | ' | $357 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effect Of Currency Devaluation Per Diluted Share | ' | ' | ' | ' | ' | $0.03 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Description Of Foreign Currency Devaluation Effects | ' | ' | ' | ' | ' | ' | 'In February 2013, the Venezuelan Government announced a devaluation of the Bolivar Fuerte. Accordingly, the Company recorded a charge of approximately $357, or $0.03 per diluted share, in equity in net income of associated companies during the first quarter of 2013. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investments | ' | 19,397 | 16,603 | ' | 5,267 | ' | ' | 1,652 | ' | 384 | ' | ' | ' | ' | ' | ' | 12,094 |
Immaterial Error Correction | 'During the first quarter of 2013, the Company identified errors in Primex’s estimated 2012 financial statements, which primarily related to a reinsurance contract held by Primex. The identified errors resulted in a cumulative $1,038 understatement of the Company’s equity in net income from associated companies for the year ended December 31, 2012. The Company corrected the errors related to Primex in the first quarter of 2013, which had the net effect of increasing equity in net income from associated companies by $1,038 for the three months ended March 31, 2013 and the year ended December 31, 2013. The Company does not believe this adjustment is material to its consolidated financial statements for the year ended December 31, 2012 or to the Company’s results for the year ended December 31, 2013 and, therefore, did not restate any prior period amounts. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of Immaterial Misstatement | 1,038 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,038 | ' | 4,905 | 5,240 | 3,422 | ' |
Proceeds from Equity Method Investment, Dividends or Distributions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,000 | ' | ' | ' | ' | ' |
Investments_in_Associated_Comp2
Investments in Associated Companies - Summarized Financial Information (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Manufacturing And Services [Member] | ' | ' | ' |
Equity Method Investment Summarized Financial Information Abstract | ' | ' | ' |
Current Assets | $28,363 | $28,602 | ' |
Non-current Assets | 717 | 2,402 | ' |
Current Liabilities | 13,974 | 15,158 | ' |
Non-current Liabilities | 501 | 248 | ' |
Equity Method Investment Summarized Financial Information Income Statement [Abstract] | ' | ' | ' |
Revenue | 47,226 | 55,963 | 66,925 |
Gross Profit | 16,096 | 18,480 | 22,092 |
Income Before Income Taxes | 3,687 | 3,170 | 3,788 |
Net Income | 2,142 | 2,118 | 1,696 |
Captive Insurance Company [Member] | ' | ' | ' |
Equity Method Investment Summarized Financial Information Abstract | ' | ' | ' |
Total Assets | 106,450 | 130,816 | ' |
Total Liabilities | 63,938 | 97,754 | ' |
Equity Method Investment Summarized Financial Information Income Statement [Abstract] | ' | ' | ' |
Revenue | 20,895 | 8,473 | 11,523 |
Income Before Income Taxes | 25,625 | 8,901 | 14,837 |
Net Income | $16,876 | $6,031 | $9,941 |
Other_Assets_Details
Other Assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Assets [Abstract] | ' | ' |
Restricted Insurance Settlement | $25,462 | $26,398 |
Deferred Compensation Plan Assets | 894 | 915 |
Supplemental Retirement Income Program | 1,885 | 1,653 |
Uncertain Tax Positions | 4,677 | 3,058 |
Other Assets, Miscellaneous, Noncurrent | 3,349 | 2,434 |
Total | $36,267 | $34,458 |
Other_Assets_Narrative_Details
Other Assets - Narrative (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Assets [Abstract] | ' | ' | ' |
Loss Contingency, Settlement Agreement, Terms | 'Previously, an inactive subsidiary of the Company executed separate settlement and release agreements with two of its insurance carriers for $35,000, of which $25,462 remains. The proceeds of both settlements are restricted and can only be used to pay claims and costs of defense associated with the subsidiary’s asbestos litigation. | ' | ' |
Interest Earned, Restricted Cash | $52 | $69 | ' |
Payments Made, Restricted Cash | ($988) | ($1,391) | ($1,840) |
Other_Current_Liabilities_Deta
Other Current Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Current Liabilities [Abstract] | ' | ' |
Non-Income Taxes | $7,658 | $6,364 |
Present Value of Acquisition-Related Liabilities | 4,797 | 0 |
Professional Fees | 2,007 | 2,083 |
Selling Expenses | 4,266 | 2,205 |
Legal | 960 | 1,018 |
Freight | 1,914 | 1,120 |
Income Taxes Payable | 5,216 | 0 |
Other Accrued Liabilities, Current | 3,767 | 3,457 |
Accrued Liabilities, Current, Total | $30,585 | $16,247 |
Other_Current_Liabilities_Narr
Other Current Liabilities - Narrative (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2012 |
TQM [Member] | ' |
Business Acquisition [Line Items] | ' |
Contingent Consideration Paid | $2,000 |
GW Smith [Member] | ' |
Business Acquisition [Line Items] | ' |
Contingent Consideration Paid | $1,000 |
Debt_Table_Details
Debt - Table (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt [Abstract] | ' | ' |
Industrial development authority monthly 5.6% fixed rate demand bonds maturing 2018 | $5,000 | $5,000 |
Industrial development authority monthly 5.26% fixed rate demand bonds maturing 2028 | 10,000 | 10,000 |
Credit facilities (1.66% weighted average borrowing rate at December 31, 2013) | 0 | 12,200 |
Ohio Department of Development Term Loan | 2,428 | 2,754 |
Other debt obligations (including capital leases) | 1,288 | 1,514 |
Debt And Capital Lease Obligations | 18,716 | 31,468 |
Short-term Debt | -945 | -867 |
Current portion of long-term debt | -450 | -601 |
Long Term Debt And Capital Lease Obligations | $17,321 | $30,000 |
Debt_Parentheticals_Details
Debt - Parentheticals (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Line Of Credit [Member] | ' |
Debt Instrument [Line Items] | ' |
Long-term Debt, Weighted Average Interest Rate | 1.66% |
Montgomery County Industrial Development Authority Bond [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt Instrument Interest Rate Stated Percentage | 5.60% |
Debt Instrument Maturity Year | '2018 |
Butler County Port Authority Bond [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt Instrument Interest Rate Stated Percentage | 5.26% |
Debt Instrument Maturity Year | '2028 |
Debt_Maturity_Schedules_Detail
Debt - Maturity Schedules (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Long Term Debt By Maturity Abstract | ' |
2014 | $1,395 |
2015 | 418 |
2016 | 393 |
2017 | 396 |
2018 | 5,344 |
2019 and Beyond | $10,770 |
Debt_Narrative_Details
Debt - Narrative (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Line of Credit, Current Facility [Member] | Line Of Credit, Previous Facility [Member] | Line Of Credit, Previous Facility [Member] | Ohio Department Of Development [Member] | ||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Current Borrowing Capacity | ' | ' | $300,000 | $175,000 | ' | ' |
Line Of Credit Facility Maximum Borrowing Capacity | ' | ' | 400,000 | ' | ' | ' |
Line Of Credit Maturity Date | ' | ' | '2018-06 | ' | ' | ' |
Line of Credit Facility, Covenant Compliance | ' | ' | 'As of December 31, 2013 and December 31, 2012, the Company’s consolidated leverage ratio was below 1.0 to 1 and the Company was also in compliance with all of the current and former facilities’ other covenants, respectively. | ' | ' | ' |
Line of Credit Facility, Covenant Terms | ' | ' | 'In addition, the revised facility amended certain financial, acquisition and other covenants, but the consolidated leverage ratio calculation, for which access to credit under the former facility largely depended upon, remains relatively consistent and cannot exceed 3.50 to 1. | ' | ' | ' |
Long-term Debt, Weighted Average Interest Rate | ' | ' | 1.66% | ' | 2.03% | ' |
Line Of Credit Facility Amount Outstanding | ' | ' | 0 | ' | 12,200 | ' |
Debt Instrument Maturity Year | ' | ' | ' | ' | ' | '2021 |
Ohio Department of Development Term Loan | $2,428 | $2,754 | ' | ' | ' | $3,500 |
Principal Repayment Commencement Date | ' | ' | ' | ' | ' | '2010-09 |
Debt Instrument Interest Rate Stated Percentage | ' | ' | ' | ' | ' | 1.00% |
Debt Instrument Interest Rate Stated Percentage In Year Two | ' | ' | ' | ' | ' | 2.00% |
Debt Instrument Interest Rate Stated Percentage In Year Seven | ' | ' | ' | ' | ' | 3.00% |
Pension_and_Other_Postretireme
Pension and Other Postretirement Benefits - Funded Status Rollforward (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ' | ' | ' |
Current Liabilities | ($1,438) | ($2,188) | ' |
Non-current Liabilities | -37,006 | -49,916 | ' |
Domestic [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Benefit Obligation at Beginning of Year | 70,407 | 66,226 | ' |
Service Cost | 299 | 460 | 400 |
Interest Cost | 2,437 | 2,803 | 3,145 |
Employee Contributions | 0 | 0 | ' |
Effect of Plan Amendments | 0 | 0 | ' |
Benefits Paid | -4,516 | -4,668 | ' |
Plan Expenses and Premiums Paid | -225 | -225 | ' |
Actuarial Loss | -2,033 | 5,811 | ' |
Translation Difference and Other | 0 | 0 | ' |
Benefit Obligation at End of Year | 66,369 | 70,407 | 66,226 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
Fair Value of Plan Assets at Beginning of Year | 45,991 | 43,470 | ' |
Actual Return on Plan Assets | 7,487 | 4,466 | ' |
Employer Contributions | 1,913 | 2,948 | ' |
Employee Contributions | 0 | 0 | ' |
Benefits Paid | -4,516 | -4,668 | ' |
Plan Expenses and Premiums Paid | -225 | -225 | ' |
Translation Difference | 0 | 0 | ' |
Fair Value of Plan Assets at End of Year | 50,650 | 45,991 | 43,470 |
Defined Benefit Plan, Funded Status of Plan | -15,719 | -24,416 | ' |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ' | ' | ' |
Current Liabilities | -589 | -577 | ' |
Non-current Liabilities | -15,130 | -23,839 | ' |
Net Amount Recognized | -15,719 | -24,416 | ' |
Amounts Not Yet Reflected in Net Periodic Benefit Costs and Included in Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ' | ' |
Service Cost | -311 | -460 | ' |
Accumulated Loss | -27,593 | -35,929 | ' |
Accumulated Other Comprehensive Loss | -27,904 | -36,389 | ' |
Cumulative Employer Contributions In Excess Of Net Periodic Benefit Cost | 12,185 | 11,973 | ' |
Net Amount Recognized | -15,719 | -24,416 | ' |
Foreign [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Benefit Obligation at Beginning of Year | 81,280 | 61,581 | ' |
Service Cost | 2,864 | 2,004 | 1,890 |
Interest Cost | 3,150 | 3,020 | 3,037 |
Employee Contributions | 111 | 101 | ' |
Effect of Plan Amendments | -2,138 | 0 | ' |
Benefits Paid | -1,853 | -1,973 | ' |
Plan Expenses and Premiums Paid | -367 | -331 | ' |
Actuarial Loss | -566 | 14,874 | ' |
Translation Difference and Other | 3,264 | 2,004 | ' |
Benefit Obligation at End of Year | 85,745 | 81,280 | 61,581 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
Fair Value of Plan Assets at Beginning of Year | 60,909 | 54,968 | ' |
Actual Return on Plan Assets | 3,237 | 2,972 | ' |
Employer Contributions | 3,947 | 3,842 | ' |
Employee Contributions | 111 | 101 | ' |
Benefits Paid | -1,853 | -1,973 | ' |
Plan Expenses and Premiums Paid | -367 | -331 | ' |
Translation Difference | 2,675 | 1,330 | ' |
Fair Value of Plan Assets at End of Year | 68,659 | 60,909 | 54,968 |
Defined Benefit Plan, Funded Status of Plan | -17,086 | -20,371 | ' |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ' | ' | ' |
Current Liabilities | -242 | -892 | ' |
Non-current Liabilities | -16,844 | -19,479 | ' |
Net Amount Recognized | -17,086 | -20,371 | ' |
Amounts Not Yet Reflected in Net Periodic Benefit Costs and Included in Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ' | ' |
Service Cost | 2,105 | -62 | ' |
Accumulated Loss | -27,188 | -29,227 | ' |
Accumulated Other Comprehensive Loss | -25,083 | -29,289 | ' |
Cumulative Employer Contributions In Excess Of Net Periodic Benefit Cost | 7,997 | 8,918 | ' |
Net Amount Recognized | -17,086 | -20,371 | ' |
Total Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Benefit Obligation at Beginning of Year | 151,687 | 127,807 | ' |
Service Cost | 3,163 | 2,464 | 2,290 |
Interest Cost | 5,587 | 5,823 | 6,182 |
Employee Contributions | 111 | 101 | ' |
Effect of Plan Amendments | -2,138 | 0 | ' |
Benefits Paid | -6,369 | -6,641 | ' |
Plan Expenses and Premiums Paid | -592 | -556 | ' |
Actuarial Loss | -2,599 | 20,685 | ' |
Translation Difference and Other | 3,264 | 2,004 | ' |
Benefit Obligation at End of Year | 152,114 | 151,687 | 127,807 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
Fair Value of Plan Assets at Beginning of Year | 106,900 | 98,438 | ' |
Actual Return on Plan Assets | 10,724 | 7,438 | ' |
Employer Contributions | 5,860 | 6,790 | ' |
Employee Contributions | 111 | 101 | ' |
Benefits Paid | -6,369 | -6,641 | ' |
Plan Expenses and Premiums Paid | -592 | -556 | ' |
Translation Difference | 2,675 | 1,330 | ' |
Fair Value of Plan Assets at End of Year | 119,309 | 106,900 | 98,438 |
Defined Benefit Plan, Funded Status of Plan | -32,805 | -44,787 | ' |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ' | ' | ' |
Current Liabilities | -831 | -1,469 | ' |
Non-current Liabilities | -31,974 | -43,318 | ' |
Net Amount Recognized | -32,805 | -44,787 | ' |
Amounts Not Yet Reflected in Net Periodic Benefit Costs and Included in Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ' | ' |
Service Cost | 1,794 | -522 | ' |
Accumulated Loss | -54,781 | -65,156 | ' |
Accumulated Other Comprehensive Loss | -52,987 | -65,678 | ' |
Cumulative Employer Contributions In Excess Of Net Periodic Benefit Cost | 20,182 | 20,891 | ' |
Net Amount Recognized | -32,805 | -44,787 | ' |
Domestic Other Postretirement Benefits [Member] | ' | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Benefit Obligation at Beginning of Year | 7,317 | 7,202 | ' |
Service Cost | 34 | 46 | 16 |
Interest Cost | 185 | 283 | 331 |
Employee Contributions | 0 | 0 | ' |
Effect of Plan Amendments | 0 | 0 | ' |
Benefits Paid | -566 | -728 | ' |
Plan Expenses and Premiums Paid | 0 | 0 | ' |
Actuarial Loss | -1,331 | 514 | ' |
Translation Difference and Other | 0 | 0 | ' |
Benefit Obligation at End of Year | 5,639 | 7,317 | 7,202 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
Fair Value of Plan Assets at Beginning of Year | 0 | 0 | ' |
Actual Return on Plan Assets | 0 | 0 | ' |
Employer Contributions | 566 | 728 | ' |
Employee Contributions | 0 | 0 | ' |
Benefits Paid | -566 | -728 | ' |
Plan Expenses and Premiums Paid | 0 | 0 | ' |
Translation Difference | 0 | 0 | ' |
Fair Value of Plan Assets at End of Year | 0 | 0 | 0 |
Defined Benefit Plan, Funded Status of Plan | -5,639 | -7,317 | ' |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | ' | ' | ' |
Current Liabilities | -607 | -719 | ' |
Non-current Liabilities | -5,032 | -6,598 | ' |
Net Amount Recognized | -5,639 | -7,317 | ' |
Amounts Not Yet Reflected in Net Periodic Benefit Costs and Included in Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ' | ' |
Service Cost | 0 | 0 | ' |
Accumulated Loss | -745 | -2,107 | ' |
Accumulated Other Comprehensive Loss | -745 | -2,107 | ' |
Cumulative Employer Contributions In Excess Of Net Periodic Benefit Cost | -4,894 | -5,210 | ' |
Net Amount Recognized | ($5,639) | ($7,317) | ' |
Pension_and_Other_Postretireme1
Pension and Other Postretirement Benefits - Information About Accumulated and Projected Benefit Obligations In Excess of Plan Assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract] | ' | ' |
Projected Benefit Obligation | $152,114 | $151,687 |
Accumulated Benefit Obligation | 150,374 | 145,836 |
Fair Value of Plan Assets | 119,309 | 106,900 |
Defined Benefit Plan, Plans with Benefit Obligations in Excess of Plan Assets [Abstract] | ' | ' |
Projected Benefit Obligation | 152,114 | 151,687 |
Fair Value of Plan Assets | 119,309 | 106,900 |
Domestic [Member] | ' | ' |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract] | ' | ' |
Projected Benefit Obligation | 66,369 | 70,407 |
Accumulated Benefit Obligation | 66,369 | 69,951 |
Fair Value of Plan Assets | 50,650 | 45,991 |
Defined Benefit Plan, Plans with Benefit Obligations in Excess of Plan Assets [Abstract] | ' | ' |
Projected Benefit Obligation | 66,369 | 70,407 |
Fair Value of Plan Assets | 50,650 | 45,991 |
Foreign [Member] | ' | ' |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract] | ' | ' |
Projected Benefit Obligation | 85,745 | 81,280 |
Accumulated Benefit Obligation | 84,005 | 75,885 |
Fair Value of Plan Assets | 68,659 | 60,909 |
Defined Benefit Plan, Plans with Benefit Obligations in Excess of Plan Assets [Abstract] | ' | ' |
Projected Benefit Obligation | 85,745 | 81,280 |
Fair Value of Plan Assets | $68,659 | $60,909 |
Pension_and_Other_Postretireme2
Pension and Other Postretirement Benefits - Net Periodic Benefit Cost and Changes in Other Comprehensive Income (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Domestic [Member] | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Service Cost | $299 | $460 | $400 |
Interest Cost | 2,437 | 2,803 | 3,145 |
Expected Return on Plan Assets | -3,664 | -3,481 | -3,592 |
Actuarial Loss Amortization | 2,481 | 2,057 | 1,554 |
Prior Service Cost Amortization | 148 | 82 | 82 |
Net Periodic Benefit Cost | 1,701 | 1,921 | 1,589 |
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | ' | ' | ' |
Net (Gain) Loss Arising During The Period | -5,856 | 4,826 | 7,593 |
Effect of Plan Amendment | 0 | 0 | ' |
Prior Service Cost Amortization | -148 | -82 | -82 |
Actuarial Loss Amortization | -2,481 | -2,057 | -1,554 |
Foreign Currency Exchange Rate Changes | 0 | 0 | 0 |
Total Recognized in Other Comprehensive (Income) Loss | -8,485 | 2,687 | 5,957 |
Total Recognized In Net Periodic Benefit Cost And Other Comprehensive Loss Or (Income) | -6,784 | 4,608 | 7,546 |
Foreign [Member] | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Service Cost | 2,864 | 2,004 | 1,890 |
Interest Cost | 3,150 | 3,020 | 3,037 |
Expected Return on Plan Assets | -2,245 | -1,995 | -2,349 |
Actuarial Loss Amortization | 1,486 | 590 | 233 |
Prior Service Cost Amortization | 30 | 30 | 32 |
Net Periodic Benefit Cost | 5,285 | 3,649 | 2,843 |
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | ' | ' | ' |
Net (Gain) Loss Arising During The Period | -1,558 | 13,897 | 5,164 |
Effect of Plan Amendment | -2,138 | 0 | ' |
Prior Service Cost Amortization | -30 | -30 | -32 |
Actuarial Loss Amortization | -1,486 | -590 | -233 |
Foreign Currency Exchange Rate Changes | 1,007 | 809 | -794 |
Total Recognized in Other Comprehensive (Income) Loss | -4,205 | 14,086 | 4,105 |
Total Recognized In Net Periodic Benefit Cost And Other Comprehensive Loss Or (Income) | 1,080 | 17,735 | 6,948 |
Total Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Service Cost | 3,163 | 2,464 | 2,290 |
Interest Cost | 5,587 | 5,823 | 6,182 |
Expected Return on Plan Assets | -5,909 | -5,476 | -5,941 |
Actuarial Loss Amortization | 3,967 | 2,647 | 1,787 |
Prior Service Cost Amortization | 178 | 112 | 114 |
Net Periodic Benefit Cost | 6,986 | 5,570 | 4,432 |
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | ' | ' | ' |
Net (Gain) Loss Arising During The Period | -7,414 | 18,723 | 12,757 |
Effect of Plan Amendment | -2,138 | 0 | ' |
Prior Service Cost Amortization | -178 | -112 | -114 |
Actuarial Loss Amortization | -3,967 | -2,647 | -1,787 |
Foreign Currency Exchange Rate Changes | 1,007 | 809 | -794 |
Total Recognized in Other Comprehensive (Income) Loss | -12,690 | 16,773 | 10,062 |
Total Recognized In Net Periodic Benefit Cost And Other Comprehensive Loss Or (Income) | -5,704 | 22,343 | 14,494 |
Domestic Other Postretirement Benefits [Member] | ' | ' | ' |
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Service Cost | 34 | 46 | 16 |
Interest Cost | 185 | 283 | 331 |
Actuarial Loss Amortization | 32 | 115 | 75 |
Net Periodic Benefit Cost | 251 | 444 | 422 |
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract] | ' | ' | ' |
Net (Gain) Loss Arising During The Period | -1,331 | 514 | -167 |
Actuarial Loss Amortization | -32 | -115 | -75 |
Total Recognized in Other Comprehensive (Income) Loss | -1,363 | 399 | -242 |
Total Recognized In Net Periodic Benefit Cost And Other Comprehensive Loss Or (Income) | ($1,112) | $843 | $180 |
Pension_and_Other_Postretireme3
Pension and Other Postretirement Benefits - Amounts to be Amortized From AOCI Over Next Fiscal Year (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | ' |
Actuarial Loss | $3,170 |
Prior Service Cost | -91 |
Total | 3,079 |
Domestic [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Actuarial Loss | 1,819 |
Prior Service Cost | 63 |
Total | 1,882 |
Foreign [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Actuarial Loss | 1,351 |
Prior Service Cost | -154 |
Total | 1,197 |
Domestic Other Postretirement Benefits [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Actuarial Loss | 24 |
Prior Service Cost | 0 |
Total | $24 |
Pension_and_Other_Postretireme4
Pension and Other Postretirement Benefits - Assumptions Used in Determining Benefit Obligations and Net Periodic Pension Costs (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract] | ' | ' |
Health Care Cost Trend Rate For Next Year | 7.10% | 7.30% |
Rate to Which the Cost Trend Rate is Assumed to Decline (Ultimate Trend Rate) | 4.50% | 4.50% |
Year that Rate Reaches Ultimate Trend Rate | '2027 | '2027 |
Defined Benefit Plan, Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates [Abstract] | ' | ' |
Effect of One Percentage Point Increase on Service and Interest Cost Components | $21 | ' |
Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation | 456 | ' |
Effect of One Percentage Point Decrease on Service and Interest Cost Components | -18 | ' |
Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | ($401) | ' |
Domestic [Member] | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ' | ' |
Discount Rate | 4.48% | 3.52% |
Rate of Compensation Increase | 3.63% | 3.40% |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ' | ' |
Discount Rate | 3.52% | 4.41% |
Expected Long-Term Return on Plan Assets | 8.25% | 8.25% |
Rate of Compensation Increase | 3.40% | 3.40% |
Foreign [Member] | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ' | ' |
Discount Rate | 3.84% | 3.94% |
Rate of Compensation Increase | 3.05% | 3.60% |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ' | ' |
Discount Rate | 3.94% | 4.99% |
Expected Long-Term Return on Plan Assets | 3.57% | 3.51% |
Rate of Compensation Increase | 3.60% | 3.58% |
Domestic Other Postretirement Benefits [Member] | ' | ' |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | ' | ' |
Discount Rate | 4.05% | 3.20% |
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | ' | ' |
Discount Rate | 3.20% | 4.15% |
Pension_and_Other_Postretireme5
Pension and Other Postretirement Benefits - Asset Allocations (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Domestic [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Target Plan Asset Allocations | 100.00% | ' |
Actual Plan Asset Allocations | 100.00% | 100.00% |
Domestic [Member] | Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Target Plan Asset Allocations | 61.00% | ' |
Actual Plan Asset Allocations | 66.00% | 58.00% |
Domestic [Member] | Debt Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Target Plan Asset Allocations | 32.00% | ' |
Actual Plan Asset Allocations | 32.00% | 40.00% |
Domestic [Member] | Cash and Cash Equivalents [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Target Plan Asset Allocations | 7.00% | ' |
Actual Plan Asset Allocations | 2.00% | 2.00% |
Percentage of Domestic Pension Assets | 2.00% | 2.00% |
Foreign [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Target Plan Asset Allocations | 100.00% | ' |
Actual Plan Asset Allocations | 100.00% | 100.00% |
Foreign [Member] | Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Target Plan Asset Allocations | 18.00% | ' |
Actual Plan Asset Allocations | 19.00% | 17.00% |
Foreign [Member] | Debt Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Target Plan Asset Allocations | 82.00% | ' |
Actual Plan Asset Allocations | 81.00% | 83.00% |
Pension_and_Other_Postretireme6
Pension and Other Postretirement Benefits - Fair Value Hierarchy - Assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | $119,309 | $106,900 | ' |
Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 49,252 | 44,622 | ' |
Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 12,448 | 10,744 | ' |
Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 57,609 | 51,534 | 47,160 |
Insurance Contract [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 57,175 | 51,146 | 46,797 |
Real Estate Fund [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 434 | 388 | 363 |
Domestic [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 50,650 | 45,991 | 43,470 |
Domestic [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 50,650 | 45,991 | ' |
Domestic [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 49,247 | 44,526 | ' |
Domestic [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 1,403 | 1,465 | ' |
Domestic [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Cash and Cash Equivalents [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 825 | 905 | ' |
Domestic [Member] | Cash and Cash Equivalents [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 825 | 905 | ' |
Domestic [Member] | Cash and Cash Equivalents [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Cash and Cash Equivalents [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Equity Securities Large Cap [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 14,801 | 12,195 | ' |
Domestic [Member] | Equity Securities Large Cap [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 14,801 | 12,195 | ' |
Domestic [Member] | Equity Securities Large Cap [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Equity Securities Large Cap [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Equity Funds Large Cap [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 6,820 | 6,551 | ' |
Domestic [Member] | Equity Funds Large Cap [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 6,820 | 6,551 | ' |
Domestic [Member] | Equity Funds Large Cap [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Equity Funds Large Cap [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Equity Securities Small Cap [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 771 | 539 | ' |
Domestic [Member] | Equity Securities Small Cap [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 771 | 539 | ' |
Domestic [Member] | Equity Securities Small Cap [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Equity Securities Small Cap [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Equity Funds Small Cap [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 2,384 | 1,910 | ' |
Domestic [Member] | Equity Funds Small Cap [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 2,384 | 1,910 | ' |
Domestic [Member] | Equity Funds Small Cap [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Equity Funds Small Cap [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Equity Funds International Developed And Emerging Markets [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 5,895 | 3,107 | ' |
Domestic [Member] | Equity Funds International Developed And Emerging Markets [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 5,895 | 3,107 | ' |
Domestic [Member] | Equity Funds International Developed And Emerging Markets [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Equity Funds International Developed And Emerging Markets [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Equity Securities International Developed And Emerging Markets [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 2,929 | 2,527 | ' |
Domestic [Member] | Equity Securities International Developed And Emerging Markets [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 2,929 | 2,527 | ' |
Domestic [Member] | Equity Securities International Developed And Emerging Markets [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Equity Securities International Developed And Emerging Markets [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Corporate Debt Securities [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 10,144 | 10,297 | ' |
Domestic [Member] | Corporate Debt Securities [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 10,144 | 10,297 | ' |
Domestic [Member] | Corporate Debt Securities [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Corporate Debt Securities [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Fixed Income Funds [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 4,486 | 6,483 | ' |
Domestic [Member] | Fixed Income Funds [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 4,486 | 6,483 | ' |
Domestic [Member] | Fixed Income Funds [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Fixed Income Funds [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Domestic And Foreign Government Debt Securities [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 192 | 12 | ' |
Domestic [Member] | Domestic And Foreign Government Debt Securities [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 192 | 12 | ' |
Domestic [Member] | Domestic And Foreign Government Debt Securities [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Domestic And Foreign Government Debt Securities [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Pooled Separate Accounts [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 1,403 | 1,465 | ' |
Domestic [Member] | Pooled Separate Accounts [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Domestic [Member] | Pooled Separate Accounts [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 1,403 | 1,465 | ' |
Domestic [Member] | Pooled Separate Accounts [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Foreign [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 68,659 | 60,909 | 54,968 |
Foreign [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 68,659 | 60,909 | ' |
Foreign [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 5 | 96 | ' |
Foreign [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 11,045 | 9,279 | ' |
Foreign [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 57,609 | 51,534 | ' |
Foreign [Member] | Cash and Cash Equivalents [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 5 | 96 | ' |
Foreign [Member] | Cash and Cash Equivalents [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 5 | 96 | ' |
Foreign [Member] | Cash and Cash Equivalents [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Foreign [Member] | Cash and Cash Equivalents [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Foreign [Member] | Fixed Income Funds [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 4,448 | 4,207 | ' |
Foreign [Member] | Fixed Income Funds [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Foreign [Member] | Fixed Income Funds [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 4,448 | 4,207 | ' |
Foreign [Member] | Fixed Income Funds [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Foreign [Member] | Insurance Contract [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 57,175 | 51,146 | ' |
Foreign [Member] | Insurance Contract [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Foreign [Member] | Insurance Contract [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Foreign [Member] | Insurance Contract [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 57,175 | 51,146 | ' |
Foreign [Member] | Equity Funds Diversified [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 6,597 | 5,072 | ' |
Foreign [Member] | Equity Funds Diversified [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Foreign [Member] | Equity Funds Diversified [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 6,597 | 5,072 | ' |
Foreign [Member] | Equity Funds Diversified [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Foreign [Member] | Real Estate Fund [Member] | Total Defined Benefit Plan Assets [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 434 | 388 | ' |
Foreign [Member] | Real Estate Fund [Member] | Fair Value Inputs Level 1 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Foreign [Member] | Real Estate Fund [Member] | Fair Value Inputs Level 2 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Foreign [Member] | Real Estate Fund [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair Value of Plan Assets | $434 | $388 | ' |
Pension_and_Other_Postretireme7
Pension and Other Postretirement Benefits - Level 3 Asset Rollforward (Details) (Fair Value Inputs Level 3 [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets at Beginning of Year | $51,534 | $47,160 |
Purchases | 3,182 | 2,997 |
Settlements | -1,607 | -1,466 |
Unrealized Gains | 2,097 | 1,864 |
Translation Difference | 2,403 | 979 |
Fair Value of Plan Assets at End of Year | 57,609 | 51,534 |
Insurance Contract [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets at Beginning of Year | 51,146 | 46,797 |
Purchases | 3,182 | 2,997 |
Settlements | -1,607 | -1,466 |
Unrealized Gains | 2,061 | 1,854 |
Translation Difference | 2,393 | 964 |
Fair Value of Plan Assets at End of Year | 57,175 | 51,146 |
Real Estate Fund [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets at Beginning of Year | 388 | 363 |
Purchases | 0 | 0 |
Settlements | 0 | 0 |
Unrealized Gains | 36 | 10 |
Translation Difference | 10 | 15 |
Fair Value of Plan Assets at End of Year | $434 | $388 |
Pension_and_Other_Postretireme8
Pension and Other Postretirement Benefits - Cash Flow (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | ' |
Minimum Cash Contributions, Next Fiscal Year | $6,172 |
Expected Benefit Payments, Next Twelve Months | 6,840 |
Expected Benefit Payments, Year Two | 6,449 |
Expected Benefit Payments, Year Three | 6,627 |
Expected Benefit Payments, Year Four | 6,695 |
Expected Benefit Payments, Year Five | 6,879 |
Expected Benefit Payments, Thereafter | 39,918 |
Domestic [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Minimum Cash Contributions, Next Fiscal Year | 1,989 |
Expected Benefit Payments, Next Twelve Months | 4,872 |
Expected Benefit Payments, Year Two | 4,548 |
Expected Benefit Payments, Year Three | 4,509 |
Expected Benefit Payments, Year Four | 4,408 |
Expected Benefit Payments, Year Five | 4,396 |
Expected Benefit Payments, Thereafter | 22,096 |
Foreign [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Minimum Cash Contributions, Next Fiscal Year | 4,183 |
Expected Benefit Payments, Next Twelve Months | 1,968 |
Expected Benefit Payments, Year Two | 1,901 |
Expected Benefit Payments, Year Three | 2,118 |
Expected Benefit Payments, Year Four | 2,287 |
Expected Benefit Payments, Year Five | 2,483 |
Expected Benefit Payments, Thereafter | 17,822 |
Domestic Other Postretirement Benefits [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Minimum Cash Contributions, Next Fiscal Year | 607 |
Expected Benefit Payments, Next Twelve Months | 607 |
Expected Benefit Payments, Year Two | 565 |
Expected Benefit Payments, Year Three | 544 |
Expected Benefit Payments, Year Four | 528 |
Expected Benefit Payments, Year Five | 492 |
Expected Benefit Payments, Thereafter | $2,043 |
Pension_and_Other_Postretireme9
Pension and Other Postretirement Benefits - Narrative (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Pension and Other Postretirement Benefits [Abstract] | ' | ' | ' |
Value of Employer Securities Included in Plan Assets | $771 | $539 | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Accumulated Benefit Obligation | 150,374 | 145,836 | ' |
Description of Defined Contribution Plan | 'The Company has a 401(k) plan with an employer match covering substantially all domestic employees. The plan allows for and the Company has paid a nonelective contribution on behalf of participants who have completed one year of service equal to 3% of the eligible participants’ compensation in the form of Company common stock. | ' | ' |
Non-elective Match Percentage | 3.00% | ' | ' |
Total Contribution Amount | 2,027 | 1,703 | 1,624 |
Domestic [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Accumulated Benefit Obligation | 66,369 | 69,951 | ' |
Net Periodic Benefit Cost | 1,701 | 1,921 | 1,589 |
Foreign [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Accumulated Benefit Obligation | 84,005 | 75,885 | ' |
Net Periodic Benefit Cost | 5,285 | 3,649 | 2,843 |
Domestic Other Postretirement Benefits [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Net Periodic Benefit Cost | 251 | 444 | 422 |
Supplemental Retirement Benefits Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Net Periodic Benefit Cost | $811 | $700 | $628 |
Company Stock [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Percentage of Domestic Pension Assets | 1.00% | 1.00% | ' |
Other_Noncurrent_Liabilities_D
Other Noncurrent Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Liabilities Noncurrent [Abstract] | ' | ' |
Restricted Insurance Settlements | $25,462 | $26,398 |
Uncertain Tax Positions (Includes Interest and Penalties) | 15,885 | 16,328 |
Present Value of Acquisition-Related Liabilities | 0 | 4,651 |
Deferred And Other Long-Term Compensation | 5,646 | 4,550 |
Other | 545 | 940 |
Total | $47,538 | $52,867 |
Equity_and_Noncontrolling_Inte2
Equity and Noncontrolling Interest - Narrative (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
Jun. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Equity [Abstract] | ' | ' | ' | ' | ' |
Common Stock Shares Authorized | ' | 30,000,000 | 30,000,000 | ' | ' |
Common Stock Par Value | ' | $1 | $1 | ' | ' |
Common Stock Shares, Issued | ' | 13,196,140 | 13,094,901 | ' | ' |
Common Stock Voting Rights | ' | 'Holders of record of the Company’s common stock for a period of less than 36 consecutive calendar months or less are entitled to one vote per share of common stock. Holders of record of the Company’s common stock for a period greater than 36 consecutive calendar months are entitled to 10 votes per share of common stock. | ' | ' | ' |
Preferred Stock Shares Authorized | ' | 10,000,000 | ' | ' | ' |
Preferred Stock Par Or Stated Value Per Share | ' | $1 | ' | ' | ' |
Public Offering Dollar Amount Securities | ' | ' | ' | ' | $100,000 |
Shares Issued | 1,265,000 | ' | ' | ' | ' |
Proceeds from Issuance of Common Stock | $51,233,000 | $0 | $0 | $48,143,000 | ' |
Cost of Sales [Member] | ' | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | ' | 30.00% | 30.00% | 30.00% | ' |
Operating Expense [Member] | ' | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | ' | 70.00% | 70.00% | 70.00% | ' |
Equity_and_Noncontrolling_Inte3
Equity and Noncontrolling Interest - AOCI Reclassifications (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | ($41,855) | ($28,967) | ($12,753) |
Other Comprehensive Income (Loss), before Reclassifications, before Tax | 10,235 | -19,211 | -20,259 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | 1,419 | 2,399 | 1,192 |
Related Tax Amount | -4,499 | 3,924 | 2,853 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | -34,700 | -41,855 | -28,967 |
Accumulated Translation Adjustment [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 3,336 | 4,709 | 13,368 |
Other Comprehensive Income (Loss), before Reclassifications, before Tax | -2,184 | -1,373 | -8,659 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | 0 | 0 | 0 |
Related Tax Amount | 0 | 0 | 0 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 1,152 | 3,336 | 4,709 |
Accumulated Defined Benefit Plans Adjustment [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | -46,914 | -34,260 | -26,448 |
Other Comprehensive Income (Loss), before Reclassifications, before Tax | 9,876 | -20,045 | -12,783 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | 4,177 | 2,875 | 1,976 |
Related Tax Amount | -4,572 | 4,516 | 2,995 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | -37,433 | -46,914 | -34,260 |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 0 | -272 | -667 |
Other Comprehensive Income (Loss), before Reclassifications, before Tax | 0 | 26 | -52 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | 0 | 392 | 660 |
Related Tax Amount | 0 | -146 | -213 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | 0 | 0 | -272 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance | 1,723 | 856 | 994 |
Other Comprehensive Income (Loss), before Reclassifications, before Tax | 2,543 | 2,181 | 1,235 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax | -2,758 | -868 | -1,444 |
Related Tax Amount | 73 | -446 | 71 |
Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance | $1,581 | $1,723 | $856 |
Business_Acquisitions_Table_De
Business Acquisitions - Table (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2011 | Sep. 30, 2011 | Dec. 31, 2011 | Sep. 30, 2012 | Mar. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | Summit [Member] | TQM [Member] | TQM [Member] | GW Smith [Member] | NPCoil Dexter [Member] | Distribution Network [Member] | Tin Plating [Member] | Total Acquisitions [Member] | |||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current Assets | ' | ' | ' | ' | $8,946 | ' | $6,138 | $5,536 | ' | ' | $15,084 |
Inventory | ' | ' | ' | ' | ' | ' | ' | ' | ' | 454 | ' |
Fixed Assets | ' | ' | ' | ' | 4,308 | ' | 2,869 | 1,211 | ' | 270 | 7,177 |
Intangibles | ' | ' | ' | 17,100 | 3,556 | 3,556 | 6,260 | 3,825 | ' | 830 | 9,816 |
Goodwill | 58,151 | 59,169 | 58,152 | 3,423 | 6,773 | 6,773 | 1,120 | 1,786 | ' | 277 | 7,893 |
Other Long-term Assets | ' | ' | ' | ' | 1,355 | ' | 1 | 783 | ' | ' | 1,356 |
Total Assets Purchased | ' | ' | ' | ' | 24,938 | ' | 16,388 | 13,141 | ' | ' | 41,326 |
Short-term Debt | ' | ' | ' | ' | ' | ' | ' | -1,186 | ' | ' | ' |
Other Current Liabilities | ' | ' | ' | ' | -2,224 | ' | -1,001 | -6,168 | ' | ' | -3,225 |
Long-term Debt | ' | ' | ' | ' | ' | ' | ' | -854 | ' | ' | ' |
Other Non-Current Liabilities | ' | ' | ' | ' | -6,869 | ' | 0 | -1,258 | ' | ' | -6,869 |
Present Value of Holdback | ' | ' | ' | ' | -1,754 | ' | -869 | -927 | -100 | ' | -2,623 |
Total Liabilities Assumed | ' | ' | ' | ' | -10,847 | ' | -1,870 | -10,393 | ' | ' | -12,717 |
Business Acquisition Purchase Price Allocation Additional Minimum Pension Liability | ' | ' | ' | ' | 987 | ' | 0 | ' | ' | ' | 987 |
Business Acquisition Purchase Price Allocation Equity Acquired | ' | ' | ' | ' | 987 | ' | 0 | ' | ' | ' | 987 |
Fair Value Of Previously Held Equity Interest | ' | ' | ' | ' | -4,578 | ' | 0 | ' | ' | ' | -4,578 |
Business Acquisition, Cost of Acquired Entity, Purchase Price, Total | ' | ' | ' | $29,116 | $10,500 | $10,500 | $14,518 | $2,748 | $647 | $1,831 | $25,018 |
Business_Acquisitions_Narrativ
Business Acquisitions - Narrative (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | ||||||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2010 | Dec. 31, 2010 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Sep. 30, 2011 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Mar. 31, 2013 | Mar. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 |
Summit [Member] | Summit [Member] | Summit [Member] | Summit [Member] | Summit [Member] | Summit [Member] | Summit [Member] | Summit [Member] | TQM [Member] | TQM [Member] | TQM [Member] | TQM [Member] | TQM [Member] | GW Smith [Member] | GW Smith [Member] | GW Smith [Member] | GW Smith [Member] | GW Smith [Member] | GW Smith [Member] | NPCoil Dexter [Member] | NPCoil Dexter [Member] | NPCoil Dexter [Member] | NPCoil Dexter [Member] | NPCoil Dexter [Member] | NPCoil Dexter [Member] | Distribution Network [Member] | Distribution Network [Member] | Tin Plating [Member] | Tin Plating [Member] | Tin Plating [Member] | Tin Plating [Member] | ||||
Customer Lists [Member] | Noncompete Agreements [Member] | Other Intangible Assets [Member] | Customer Lists [Member] | Trade Names [Member] | Customer Lists [Member] | Noncompete Agreements [Member] | Trademarks [Member] | Trade Names [Member] | Customer Lists [Member] | Customer Relationships [Member] | Noncompete Agreements [Member] | Trademarks [Member] | Customer Lists [Member] | Customer Lists [Member] | Noncompete Agreements [Member] | Other Intangible Assets [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Paid for Acquisition | ' | ' | ' | ' | ' | ' | ' | $29,116 | ' | ' | ' | ' | $10,500 | $10,500 | ' | ' | ' | $14,518 | ' | ' | ' | ' | ' | $2,748 | ' | ' | ' | ' | $647 | ' | $1,831 | ' | ' | ' |
Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -854 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,186 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | 58,151 | 59,169 | 58,152 | ' | ' | ' | ' | 3,423 | ' | ' | ' | ' | 6,773 | 6,773 | ' | ' | ' | 1,120 | ' | ' | ' | ' | ' | 1,786 | ' | ' | ' | ' | ' | ' | 277 | ' | ' | ' |
Intangibles | ' | ' | ' | ' | ' | ' | ' | 17,100 | ' | ' | ' | ' | 3,556 | 3,556 | ' | ' | ' | 6,260 | ' | ' | ' | ' | ' | 3,825 | ' | ' | ' | ' | ' | ' | 830 | ' | ' | ' |
Intangible Assets, Amortizable Life | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | '5 years | '15 years | ' | ' | ' | '20 years | '5 years | ' | ' | '16 years | '5 years | '5 years | '15 years | ' | ' | '8 years | '4 years | '5 years | '10 years | ' | '5 years | ' | '10 years | '4 years | '10 years |
Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Post Closing Adjustment | ' | ' | ' | 717 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contingent Consideration Paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000 | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non cash gain from purchase of equity affiliate | 0 | 0 | -2,718 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Present Value of Holdback | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,754 | ' | ' | ' | ' | 869 | ' | ' | ' | ' | ' | 927 | ' | ' | ' | ' | 100 | ' | ' | ' | ' | ' |
Cash Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 236 | ' | ' | ' | 22 | ' | ' | ' | ' | ' | 113 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Change in Fair Value Estimate | ($497) | ($2,770) | ($595) | ' | ($497) | ($1,737) | ($595) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,033 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_Assets_Details
Fair Value - Assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Estimate Of Fair Value Fair Value Disclosure [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Company Owned Life Insurance | $1,885 | $1,653 |
Company Owned Life Insurance - Deferred Compensation Assets | 409 | 437 |
Large Capitalization Registered Investment Companies | 74 | 62 |
Mid Capitalization Registered Investment Companies | 6 | 6 |
Small Capitalization Registered Investment Companies | 13 | 9 |
International Developed And Emerging Markets Registered Investment Companies | 40 | 37 |
Fixed Income Registered Investment Companies | 7 | 8 |
Assets Fair Value Disclosure | 2,434 | 2,212 |
Fair Value Inputs Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Company Owned Life Insurance | 0 | 0 |
Company Owned Life Insurance - Deferred Compensation Assets | 0 | 0 |
Large Capitalization Registered Investment Companies | 74 | 62 |
Mid Capitalization Registered Investment Companies | 6 | 6 |
Small Capitalization Registered Investment Companies | 13 | 9 |
International Developed And Emerging Markets Registered Investment Companies | 40 | 37 |
Fixed Income Registered Investment Companies | 7 | 8 |
Assets Fair Value Disclosure | 140 | 122 |
Fair Value Inputs Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Company Owned Life Insurance | 1,885 | 1,653 |
Company Owned Life Insurance - Deferred Compensation Assets | 409 | 437 |
Large Capitalization Registered Investment Companies | 0 | 0 |
Mid Capitalization Registered Investment Companies | 0 | 0 |
Small Capitalization Registered Investment Companies | 0 | 0 |
International Developed And Emerging Markets Registered Investment Companies | 0 | 0 |
Fixed Income Registered Investment Companies | 0 | 0 |
Assets Fair Value Disclosure | 2,294 | 2,090 |
Fair Value Inputs Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Company Owned Life Insurance | 0 | 0 |
Company Owned Life Insurance - Deferred Compensation Assets | 0 | 0 |
Large Capitalization Registered Investment Companies | 0 | 0 |
Mid Capitalization Registered Investment Companies | 0 | 0 |
Small Capitalization Registered Investment Companies | 0 | 0 |
International Developed And Emerging Markets Registered Investment Companies | 0 | 0 |
Fixed Income Registered Investment Companies | 0 | 0 |
Assets Fair Value Disclosure | $0 | $0 |
Fair_Value_Liabilties_Details
Fair Value - Liabilties (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Estimate Of Fair Value Fair Value Disclosure [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Large Capitalization Registered Investment Companies | $405 | $336 |
Mid Capitalization Registered Investment Companies | 109 | 88 |
Small Capitalization Registered Investment Companies | 95 | 72 |
International Developed And Emerging Markets Registered Investment Companies | 205 | 187 |
Fixed Income Registered Investment Companies | 43 | 48 |
Fixed General Account | 167 | 173 |
Acquisition-related Consideration | 4,876 | 4,901 |
Liabilities Fair Value Disclosure | 5,900 | 5,805 |
Fair Value Inputs Level 1 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Large Capitalization Registered Investment Companies | 405 | 336 |
Mid Capitalization Registered Investment Companies | 109 | 88 |
Small Capitalization Registered Investment Companies | 95 | 72 |
International Developed And Emerging Markets Registered Investment Companies | 205 | 187 |
Fixed Income Registered Investment Companies | 43 | 48 |
Fixed General Account | 0 | 0 |
Acquisition-related Consideration | 0 | 0 |
Liabilities Fair Value Disclosure | 857 | 731 |
Fair Value Inputs Level 2 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Large Capitalization Registered Investment Companies | 0 | 0 |
Mid Capitalization Registered Investment Companies | 0 | 0 |
Small Capitalization Registered Investment Companies | 0 | 0 |
International Developed And Emerging Markets Registered Investment Companies | 0 | 0 |
Fixed Income Registered Investment Companies | 0 | 0 |
Fixed General Account | 167 | 173 |
Acquisition-related Consideration | 0 | 0 |
Liabilities Fair Value Disclosure | 167 | 173 |
Fair Value Inputs Level 3 [Member] | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ' | ' |
Large Capitalization Registered Investment Companies | 0 | 0 |
Mid Capitalization Registered Investment Companies | 0 | 0 |
Small Capitalization Registered Investment Companies | 0 | 0 |
International Developed And Emerging Markets Registered Investment Companies | 0 | 0 |
Fixed Income Registered Investment Companies | 0 | 0 |
Fixed General Account | 0 | 0 |
Acquisition-related Consideration | 4,876 | 4,901 |
Liabilities Fair Value Disclosure | $4,876 | $4,901 |
Fair_Value_Level_3_Rollforward
Fair Value - Level 3 Rollforward (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward] | ' | ' | ' |
Change in Fair Value Estimate | ($497) | ($2,770) | ($595) |
Summit Earnout [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward] | ' | ' | ' |
Beginning Balance | 4,497 | ' | ' |
Acquisitions | 0 | ' | ' |
Interest Accretion | 697 | ' | ' |
Change in Fair Value Estimate | -497 | ' | ' |
Payments | 0 | ' | ' |
Ending Balance | 4,697 | ' | ' |
Noncompetition Agreement Obligation [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward] | ' | ' | ' |
Beginning Balance | 404 | ' | ' |
Acquisitions | 0 | ' | ' |
Interest Accretion | 25 | ' | ' |
Change in Fair Value Estimate | 0 | ' | ' |
Payments | -250 | ' | ' |
Ending Balance | 179 | ' | ' |
Total [Member] | Fair Value Inputs Level 3 [Member] | ' | ' | ' |
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward] | ' | ' | ' |
Beginning Balance | 4,901 | ' | ' |
Acquisitions | 0 | ' | ' |
Interest Accretion | 722 | ' | ' |
Change in Fair Value Estimate | -497 | ' | ' |
Payments | -250 | ' | ' |
Ending Balance | $4,876 | ' | ' |
Fair_Value_Quantitative_Disclu
Fair Value - Quantitative Disclusure (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Fair Value Inputs Liabilities Quantitative Information [Line Items] | ' |
Fair Value Inputs Weighted Average Probabilities | 'The probabilities applied to the payout scenarios prior to the fourth quarter of 2013 ranged from 15% to 70%, depending on the Company’s estimate of the likelihood of each payout scenario. |
Summit Earnout [Member] | ' |
Fair Value Inputs Liabilities Quantitative Information [Line Items] | ' |
FairValueInputsDiscountRate | 14.50% |
Fair Value Measurements Valuation Techniques | 'Discounted cash flow |
Acquisition-related Consideration | 4,697 |
Noncompetition Agreement Obligation [Member] | ' |
Fair Value Inputs Liabilities Quantitative Information [Line Items] | ' |
FairValueInputsDiscountRate | 14.00% |
Fair Value Measurements Valuation Techniques | 'Discounted cash flow |
Acquisition-related Consideration | 179 |
Hedging_Activities_Narrative_D
Hedging Activities - Narrative (Details) (USD $) | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |
Derivatives, Fair Value [Line Items] | ' |
Derivative Liability Notional Amount | $15,000 |
Hedging_Activities_Table_Detai
Hedging Activities - Table (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative Instruments Gain Loss [Line Items] | ' | ' | ' |
Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net | $0 | $272 | $395 |
Derivative Instruments Gain Loss Reclassified From Accumulated OCI Into Income Effective Portion Net | 0 | -392 | -660 |
Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net | $0 | $0 | $0 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Narrative (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2007 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2010 | Dec. 31, 2010 | Dec. 31, 2010 | Dec. 31, 2013 |
ACP [Member] | ACP [Member] | SB Decking [Member] | VAT, Total [Member] | VAT, Total [Member] | VAT Settlement One [Member] | VAT Settlement Two [Member] | VAT Assessment Three [Member] | |||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) Related To Litigation Settlement | ' | ' | $2,000 | ' | ' | ' | $4,132 | $3,901 | $231 | ' |
Non-Income Tax Contingency Charge | ' | ' | ' | ' | ' | ' | ' | ' | ' | 796 |
Loss Contingency Range Of Possible Loss Minimum | ' | ' | ' | 395 | ' | 0 | ' | ' | ' | ' |
Loss Contingency Range Of Possible Loss Maximum | ' | ' | ' | 800 | ' | 7,200 | ' | ' | ' | ' |
P-2 well operation range estimate | ' | ' | ' | 'another nine months to two years. | ' | ' | ' | ' | ' | ' |
Unrelated Environmental Liability Accruals | 205 | 230 | ' | ' | ' | ' | ' | ' | ' | ' |
Loss Contingency, Estimate of Possible Loss | ' | ' | ' | ' | $2,700 | ' | ' | ' | ' | ' |
Loss Contingency, Settlement Agreement, Terms | 'Previously, an inactive subsidiary of the Company executed separate settlement and release agreements with two of its insurance carriers for $35,000, of which $25,462 remains. The proceeds of both settlements are restricted and can only be used to pay claims and costs of defense associated with the subsidiary’s asbestos litigation. | ' | ' | ' | 'In response, two of the three carriers entered into separate settlement and release agreements with the subsidiary in late 2005 and early 2007 for $15,000 and $20,000, respectively. The proceeds of both settlements are restricted and can only be used to pay claims and costs of defense associated with the subsidiary’s asbestos litigation. During the third quarter of 2007, the subsidiary and the remaining primary insurance carrier entered into a Claim Handling and Funding Agreement, under which the carrier will pay 27% of defense and indemnity costs incurred by or on behalf of the subsidiary in connection with asbestos bodily injury claims for a minimum of five years beginning July 1, 2007. The agreement continues until terminated and can only be terminated by either party by providing the other party with a minimum of two years prior written notice. As of December 31, 2013, no notice of termination has been given under this agreement. At the end of the term of the agreement, the subsidiary may choose to again pursue its claim against this insurer regarding the application of the policy limits. | ' | ' | ' | ' | ' |
Percentage of potential exposure represented by one jurisdiction | ' | ' | ' | ' | ' | 78.00% | ' | ' | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies - Operating Leases (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' |
Operating Leases, Rent Expense | $5,510 | $5,189 | $5,282 |
Future Operating Lease Minimum Payments, Due Next Year | 4,991 | ' | ' |
Future Operating Lease Minimum Payments, Due in Two Years | 4,154 | ' | ' |
Future Operating Lease Minimum Payments, Due in Three Years | 3,507 | ' | ' |
Future Operating Lease Minimum Payments, Due in Four Years | 1,812 | ' | ' |
Future Operating Lease Minimum Payments, Due in Five Years | 5 | ' | ' |
Future Operating Lease Minimum Payments, Due Therafter | $0 | ' | ' |
Quarterly_Results_Unaudited_De
Quarterly Results - Unaudited (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Results (unaudited) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $184,297 | $184,059 | $184,846 | $176,193 | $172,868 | $180,923 | $176,797 | $177,638 | $729,395 | $708,226 | $683,231 |
Gross Profit | 65,163 | 65,990 | 67,314 | 62,608 | 59,154 | 59,126 | 60,636 | 59,795 | ' | ' | ' |
Operating income | 15,232 | 18,807 | 19,793 | 17,411 | 13,676 | 15,863 | 16,983 | 16,702 | 71,243 | 63,224 | 57,912 |
Net income attributable to Quaker Chemical Corporation | $14,086 | $12,551 | $16,083 | $13,619 | $13,007 | $10,925 | $11,108 | $12,365 | $56,339 | $47,405 | $45,892 |
Net income attributable to Quaker Chemical Corporation Common Shareholders - basic | $1.07 | $0.95 | $1.22 | $1.04 | $0.99 | $0.84 | $0.86 | $0.96 | $4.28 | $3.64 | $3.71 |
Net income attributable to Quaker Chemical Corporation Common Shareholders - diluted | $1.07 | $0.95 | $1.22 | $1.04 | $0.99 | $0.83 | $0.85 | $0.95 | $4.27 | $3.63 | $3.66 |
Quarterly_Results_Unaudited_Na
Quarterly Results - Unaudited - Narrative (Details) (USD $) | 3 Months Ended | |||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 |
Amount of Immaterial Misstatement | ' | ' | ' | $1,038 | ' | ' | ' | ' |
Captive Insurance Equity Affiliate [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Charges And Credits, Per Diluted Share | $0.08 | $0.09 | $0.13 | $0.11 | $0.03 | $0.03 | $0.04 | $0.04 |
Amount of Immaterial Misstatement | $0 | $0 | $0 | $1,038 | ' | ' | ' | ' |
Currency Devaluation [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Charges And Credits, Per Diluted Share | $0 | $0 | $0 | $0.03 | ' | ' | ' | ' |
Mineral Oil Excise Tax Refund [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Charges And Credits, Per Diluted Share | $0 | $0 | $0.14 | $0 | ' | ' | ' | ' |
Acquisition Related Earnout Adjustment [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Charges And Credits, Per Diluted Share | $0.06 | $0 | $0.03 | $0 | $0.09 | $0 | $0 | $0 |
Cost Streamlining Initiative [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Charges And Credits, Per Diluted Share | $0.01 | $0.05 | $0.02 | $0 | ' | ' | ' | ' |
Key Employee Transition Costs [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Charges And Credits, Per Diluted Share | ' | ' | ' | ' | $0 | $0 | $0.03 | $0 |
Customer Bankruptcy [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Charges And Credits, Per Diluted Share | ' | ' | ' | ' | $0 | $0 | $0.06 | $0 |
Non Income Tax Contingency Charge [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Charges And Credits, Per Diluted Share | $0.04 | $0 | $0 | $0 | ' | ' | ' | ' |