Quaker Chemical (KWR) 10-Q 1 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Jul. 15, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-12019
Entity Registrant Name	QUAKER CHEMICAL CORPORATION
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	23-0993790
Entity Address, Address Line One	901 E. Hector Street
Entity Address, City or Town	Conshohocken
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19428 – 2380
City Area Code	610
Local Phone Number	832-4000
Title of 12(b) Security	Common Stock, $1 par value
Trading Symbol	KWR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,997,040
Entity central index key	0000081362
Current fiscal year end date	--12-31
Document Fiscal Year Focus	2023
Document Period Focus	Q2
Amendment flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Net sales	$ 495,444	$ 492,388	$ 995,592	$ 966,559
Cost of goods sold (excluding amortization expense - See Note 13)	317,753	342,824	644,451	670,924
Gross profit	177,691	149,564	351,141	295,635
Selling, general and administrative expenses	119,853	115,830	239,402	227,625
Restructuring and related charges (credits), net	1,043	(1)	5,015	819
Combination, integration and other acquisition-related expenses	0	1,832	0	5,885
Operating income	56,795	31,903	106,724	61,306
Other expense, net	(3,606)	(8,399)	(5,845)	(10,605)
Interest expense, net	(12,721)	(6,494)	(25,963)	(11,839)
Income before taxes and equity in net income of associated companies	40,468	17,010	74,916	38,862
Taxes on income before equity in net income of associated companies	13,830	1,374	23,363	4,240
Income before equity in net income of associated companies	26,638	15,636	51,553	34,622
Equity in net income (loss) of associated companies	2,755	(1,265)	7,381	(430)
Net income	29,393	14,371	58,934	34,192
Less: Net income attributable to noncontrolling interest	47	28	54	33
Net income attributable to Quaker Chemical Corporation	$ 29,346	$ 14,343	$ 58,880	$ 34,159
Per share data:
Net income attributable to Quaker Chemical Corporation common shareholders – basic (in dollars per share)	$ 1.63	$ 0.80	$ 3.28	$ 1.91
Net income attributable to Quaker Chemical Corporation common shareholders – diluted (in dollars per share)	1.63	0.80	3.27	1.91
Dividends declared (in dollars per share)	$ 0.435	$ 0.415	$ 0.870	$ 0.830

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 29,393	$ 14,371	$ 58,934	$ 34,192
Other comprehensive (loss) income, net of tax
Currency translation adjustments	(13,080)	(76,433)	1,388	(83,299)
Defined benefit retirement plans	697	1,407	571	1,903
Current period change in fair value of derivatives	4,173	575	4,563	1,675
Unrealized gain (loss) on available-for-sale securities	1,241	(567)	1,575	(1,567)
Other comprehensive (loss) income	(6,969)	(75,018)	8,097	(81,288)
Comprehensive income (loss)	22,424	(60,647)	67,031	(47,096)
Less: Comprehensive (loss) income attributable to noncontrolling interest	(9)	5	(19)	(1)
Comprehensive income (loss) attributable to Quaker Chemical Corporation	$ 22,415	$ (60,642)	$ 67,012	$ (47,097)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 189,405	$ 180,963
Accounts receivable, net	454,230	472,888
Inventories
Raw materials and supplies	137,914	151,105
Work-in-process and finished goods	137,026	133,743
Prepaid expenses and other current assets	65,426	55,438
Total current assets	984,001	994,137
Property, plant and equipment, at cost	441,963	428,190
Less: Accumulated depreciation	(237,231)	(229,595)
Property, plant and equipment, net	204,732	198,595
Right of use lease assets	40,983	43,766
Goodwill	507,370	515,008
Other intangible assets, net	918,143	942,925
Investments in associated companies	91,960	88,234
Deferred tax assets	10,033	11,218
Other non-current assets	33,019	27,739
Total assets	2,790,241	2,821,622
Current liabilities
Short-term borrowings and current portion of long-term debt	19,369	19,245
Accounts payable	193,790	193,983
Dividends payable	7,830	7,808
Accrued compensation	35,129	39,834
Accrued restructuring	5,160	5,483
Accrued pension and postretirement benefits	1,579	1,560
Other accrued liabilities	83,681	86,873
Total current liabilities	346,538	354,786
Long-term debt	863,934	933,561
Long-term lease liabilities	24,218	26,967
Deferred tax liabilities	156,247	160,294
Non-current accrued pension and postretirement benefits	29,174	28,765
Other non-current liabilities	33,464	38,664
Total liabilities	1,453,575	1,543,037
Commitments and contingencies (Note 18)
Equity
Common stock $1 par value; authorized 30,000,000 shares; issued and outstanding June 30, 2023 – 17,999,223 shares; December 31, 2022 – 17,950,264 shares	17,999	17,950
Capital in excess of par value	934,941	928,288
Retained earnings	513,148	469,920
Accumulated other comprehensive loss	(130,108)	(138,240)
Total Quaker shareholders’ equity	1,335,980	1,277,918
Noncontrolling interest	686	667
Total equity	1,336,666	1,278,585
Total liabilities and equity	$ 2,790,241	$ 2,821,622

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	17,999,223	17,950,264
Common stock, shares outstanding (in shares)	17,999,223	17,950,264

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net income	$ 58,934	$ 34,192
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Amortization of debt issuance costs	706	2,236
Depreciation and amortization	40,824	41,036
Equity in undistributed earnings of associated companies, net of dividends	(4,207)	3,400
Deferred compensation, deferred taxes and other, net	154	(10,208)
Share-based compensation	7,414	5,433
Loss on extinguishment of debt	0	5,246
Combination and other acquisition-related expenses, net of payments	0	(3,880)
Restructuring and related charges	5,015	819
Pension and other postretirement benefits	(308)	(2,269)
Increase (decrease) in cash from changes in current assets and current liabilities, net of acquisitions:
Accounts receivable	22,017	(51,944)
Inventories	11,750	(58,427)
Prepaid expenses and other current assets	(8,925)	(5,558)
Change in restructuring liabilities	(5,410)	(797)
Accounts payable and accrued liabilities	(11,912)	32,298
Net cash provided by (used in) operating activities	116,052	(8,423)
Cash flows from investing activities
Investments in property, plant and equipment	(17,040)	(15,138)
Payments related to acquisitions, net of cash acquired	0	(9,383)
Proceeds from disposition of assets	0	85
Net cash used in investing activities	(17,040)	(24,436)
Cash flows from financing activities
Payments of long-term debt	(9,439)	(668,500)
Proceeds from long-term debt	0	750,000
(Payments) borrowings on revolving credit facilities, net	(62,778)	16,703
Payments on other debt, net	(456)	(155)
Financing-related debt issuance costs	0	(3,734)
Dividends paid	(15,631)	(14,862)
Other stock related activity	(712)	(821)
Net cash (used in) provided by financing activities	(89,016)	78,631
Effect of foreign exchange rate changes on cash	(1,554)	(8,600)
Net increase in cash and cash equivalents	8,442	37,172
Cash and cash equivalents at the beginning of the period	180,963	165,176
Cash and cash equivalents at the end of the period	$ 189,405	$ 202,348

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Beginning balance at Dec. 31, 2021	$ 1,387,922	$ 17,897	$ 917,053	$ 516,334	$ (63,990)	$ 628
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	19,821	0	0	19,816	0	5
Amounts reported in other comprehensive (loss) income	(6,270)	0	0	0	(6,271)	1
Dividends declared	(7,434)	0	0	(7,434)	0	0
Share issuance and equity-based compensation plans	1,661	15	1,646	0	0	0
Ending balance at Mar. 31, 2022	1,395,700	17,912	918,699	528,716	(70,261)	634
Beginning balance at Dec. 31, 2021	1,387,922	17,897	917,053	516,334	(63,990)	628
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	34,192
Amounts reported in other comprehensive (loss) income	(81,288)
Ending balance at Jun. 30, 2022	1,330,566	17,920	921,642	535,621	(145,246)	629
Beginning balance at Mar. 31, 2022	1,395,700	17,912	918,699	528,716	(70,261)	634
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	14,371	0	0	14,343	0	28
Amounts reported in other comprehensive (loss) income	(75,018)	0	0	0	(74,985)	(33)
Dividends declared	(7,438)	0	0	(7,438)	0	0
Share issuance and equity-based compensation plans	2,951	8	2,943	0	0	0
Ending balance at Jun. 30, 2022	1,330,566	17,920	921,642	535,621	(145,246)	629
Beginning balance at Dec. 31, 2022	1,278,585	17,950	928,288	469,920	(138,240)	667
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	29,541	0	0	29,534	0	7
Amounts reported in other comprehensive (loss) income	15,066	0	0	0	15,063	3
Dividends declared	(7,822)	0	0	(7,822)	0	0
Share issuance and equity-based compensation plans	1,418	32	1,386	0	0	0
Ending balance at Mar. 31, 2023	1,316,788	17,982	929,674	491,632	(123,177)	677
Beginning balance at Dec. 31, 2022	1,278,585	17,950	928,288	469,920	(138,240)	667
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	58,934
Amounts reported in other comprehensive (loss) income	8,097
Ending balance at Jun. 30, 2023	1,336,666	17,999	934,941	513,148	(130,108)	686
Beginning balance at Mar. 31, 2023	1,316,788	17,982	929,674	491,632	(123,177)	677
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	29,393	0	0	29,346	0	47
Amounts reported in other comprehensive (loss) income	(6,969)	0	0	0	(6,931)	(38)
Dividends declared	(7,830)	0	0	(7,830)	0	0
Share issuance and equity-based compensation plans	5,284	17	5,267	0	0	0
Ending balance at Jun. 30, 2023	$ 1,336,666	$ 17,999	$ 934,941	$ 513,148	$ (130,108)	$ 686

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Equity (Parentheticals) - $ / shares	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.435	$ 0.435	$ 0.415	$ 0.415	$ 0.870	$ 0.830

Basis of Presentation and Descr

Basis of Presentation and Description of Business	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Description of Business	Basis of Presentation and Description of Business As used in these Notes to Condensed Consolidated Financial Statements of this Quarterly Report on Form 10-Q for the period ended June 30, 2023 (the “Report”), the terms “Quaker Houghton,” the “Company,” “we,” and “our” refer to Quaker Chemical Corporation (doing business as Quaker Houghton), its subsidiaries, and associated companies, unless the context otherwise requires. The “Combination” refers to the legacy Quaker combination with Houghton International, Inc. (“Houghton”). Basis of Presentation The condensed consolidated financial statements included herein are unaudited and have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial reporting and the United States Securities and Exchange Commission (“SEC”) regulations. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the financial statements reflect all adjustments consisting only of normal recurring adjustments, which are necessary for a fair statement of the financial position, results of operations and cash flows for the interim periods. The results for the six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the full year. These financial statements should be read in conjunction with the Company’s Annual Report filed on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”). During the first quarter of 2023, the Company reorganized its executive management team to align with its new business structure. The Company’s new structure includes three reportable segments: (i) Americas; (ii) Europe, Middle East and Africa (“EMEA”); and (iii) Asia/Pacific. Prior to the Company’s reorganization, the Company’s historical reportable segments were: (i) Americas; (ii) EMEA; (iii) Asia/Pacific; and (iv) Global Specialty Businesses. Prior period information has been recast to align with the Company’s business structure as of January 1, 2023, including reportable segments, customer industry disaggregation. As a result of the Company’s new organizational structure effective January 1, 2023, the Company reallocated goodwill previously held by the former Global Specialty Businesses segment to the remaining business segments as of January 1, 2023. However, the Company did not recast the carrying amount of goodwill for the year ended December 31, 2022. See Notes 4, 5, and 13 of Notes to Condensed Consolidated Financial Statements. Description of Business The Company was organized in 1918 and incorporated as a Pennsylvania business corporation in 1930. Quaker Houghton is the global leader in industrial process fluids. With a presence around the world, including operations in over 25 countries, the Company’s customers include thousands of the world’s most advanced and specialized steel, aluminum, automotive, aerospace, offshore, container, mining, and metalworking companies. Quaker Houghton develops, produces, and markets a broad range of formulated chemical specialty products and offers chemical management services, which the Company refers to as “Fluidcare TM ”, for various heavy industrial and manufacturing applications. Hyper-inflationary economies Argentina’s and Türkiye’s economies were considered hyper-inflationary under U.S. GAAP effective July 1, 2018 and April 1, 2022, respectively. As of, and for the three and six months ended June 30, 2023, the Company's Argentine and Turkish subsidiaries represented a combined 1% and 2% of the Company’s consolidated total assets and net sales, respectively. During the three and six months ended June 30, 2023, the Company recorded $1.1 million and $1.6 million of remeasurement losses associated with the applicable currency conversions, respectively. Comparatively, during the three and six months ended June 30, 2022, the Company recorded less than $0.1 million and $0.2 million of remeasurement losses associated with the applicable currency conversions, respectively. These losses were recorded within foreign exchange losses, net, which is a component of Other expense, net, in the Company’s Condensed Consolidated Statements of Operations.

Business Acquisitions

Business Acquisitions	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Business Acquisitions	Business Acquisitions Previous Acquisitions In October 2022, the Company acquired a business that provides pickling and rinsing products and services, which is part of the EMEA reportable segment, for approximately 3.5 million EUR or approximately $3.5 million. This acquisition, along with the Company’s January 2022 acquisition in the Americas (described below), which had similar specializations and product offerings in pickling inhibitor technologies, strengthens Quaker Houghton’s position in pickling inhibitors and additives, enabling the Company to better support and optimize production processes for customers across the Metals industry. As of June 30, 2023, the allocation of the purchase of this acquisition in October 2022 has not been finalized and the one-year measurement period has not ended. Further adjustments may be necessary as a result of the Company’s ongoing assessment of additional information related to the fair value of assets acquired and liabilities assumed. In January 2022, the Company acquired a business that provides pickling inhibitor technologies, drawing lubricants and stamping oil, and various other lubrication, rust preventative, and cleaner applications, which is part of the Americas reportable segment for approximately $8.0 million. This business broadens the Company’s product offerings within its existing metals and metalworking business in the Americas region. During the third quarter of 2022 the Company finalized post-closing adjustments that resulted in the Company paying less than $0.1 million of additional purchase consideration. Also in January 2022, the Company acquired a business related to the sealing and impregnation of metal castings for the automotive sector, as well as impregnation resin and impregnation systems for metal parts, which is part of the EMEA reportable segment for approximately 1.2 million EUR or approximately $1.4 million. This business broadens its product offerings and service capabilities within its existing impregnation business. The allocation of the purchase prices of both of these January 2022 acquisitions have been finalized. In November 2021, the Company acquired Baron Industries, a privately held company that provides vacuum impregnation services of castings, powder metals and electrical components for its Americas reportable segment for $11.0 million, including an initial cash payment of $7.1 million, subject to post-closing adjustments, as well as certain earn-out provisions that are payable at various times from 2022 through 2025. The earn-out provisions could total a maximum of $4.5 million. As of June 30, 2023, the Company has remaining earn-out liabilities recorded on its Condensed Consolidated Balance Sheet of $1.3 million. Additionally, during the third quarter of 2022 the Company finalized post-closing adjustments that resulted in the Company receiving a payment of less than $0.1 million. In December 2020, the Company acquired Coral Chemical Company, LLC (“Coral”), a privately held U.S.-based provider of metal finishing fluid solutions. Subsequent to the acquisition, the Company and the sellers of Coral (the “Sellers”) have worked to finalize certain post-closing adjustments. During the second quarter of 2022, after failing to reach resolution, the Sellers filed suit asserting certain amounts owed related to tax attributes of the acquisition. During the first six months of 2023, there have been no material changes to the facts and circumstances of the claim asserted by the Sellers, and the Company continues to believe the potential range of exposure for this claim is $0 to $1.5 million.

Recently Issued Accounting Stan

Recently Issued Accounting Standards	6 Months Ended
	Jun. 30, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards There have been no recently issued accounting standards that will have a material impact on the Company’s condensed consolidated financial statements and related footnote disclosures.

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2023
Segment Reporting, Measurement Disclosures [Abstract]
Business Segments	Business Segments The Company has three reportable segments: (i) Americas; (ii) EMEA; and (iii) Asia/Pacific. The three segments are composed of the net sales and operations in each respective region. All prior period information has been recast to reflect the Company’s new reportable segments. See Note 1 of Notes to Condensed Consolidated Financial Statements. Segment operating earnings for each of the Company’s reportable segments are comprised of the segment’s net sales less directly related Cost of goods sold (“COGS”) and Selling, general and administrative expenses (“SG&A”). Operating expenses not directly attributable to the net sales of each respective segment, such as certain corporate and administrative costs, Combination, integration and other acquisition-related expenses, and Restructuring and related charges (credits), net, are not included in segment operating earnings. Other items not specifically identified with the Company’s reportable segments include Interest expense, net and Other expense, net. The following table presents information about the performance of the Company’s reportable segments: Three Months Ended Six Months Ended 2023 2022 2023 2022 Net sales Americas $ 253,219 $ 235,809 $ 504,632 $ 447,900 EMEA 143,533 145,535 295,982 292,354 Asia/Pacific 98,692 111,044 194,978 226,305 Total net sales $ 495,444 $ 492,388 $ 995,592 $ 966,559 Segment operating earnings Americas $ 69,007 $ 52,137 $ 135,132 $ 97,316 EMEA 25,583 20,076 53,154 43,324 Asia/Pacific 27,989 24,922 55,641 49,423 Total segment operating earnings 122,579 97,135 243,927 190,063 Combination, integration and other acquisition-related expenses — (1,832) — (5,885) Restructuring and related (charges) credits, net (1,043) 1 (5,015) (819) Non-operating and administrative expenses (49,950) (48,579) (101,721) (92,042) Depreciation of corporate assets and amortization (14,791) (14,822) (30,467) (30,011) Operating income 56,795 31,903 106,724 61,306 Other expense, net (3,606) (8,399) (5,845) (10,605) Interest expense, net (12,721) (6,494) (25,963) (11,839) Income before taxes and equity in net income of associated companies $ 40,468 $ 17,010 $ 74,916 $ 38,862 The following table summarizes inter-segment revenues. All inter-segment transactions have been eliminated from each reportable segment’s net sales and earnings for all periods presented in the above tables. Three Months Ended Six Months Ended 2023 2022 2023 2022 Americas 2,179 3,441 5,006 6,497 EMEA 7,463 15,634 13,556 27,810 Asia/Pacific 476 115 536 412

Net Sales and Revenue Recogniti

Net Sales and Revenue Recognition	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Net Sales and Revenue Recognition	Net Sales and Revenue Recognition Arrangements Resulting in Net Reporting As part of the Company’s Fluidcare TM business, certain third-party product sales to customers are managed by the Company. The Company transferred third-party products under arrangements recognized on a net reporting basis of $21.0 million and $41.7 million for the three and six months ended June 30, 2023, respectively, and $20.5 million and $40.3 million for the three and six months ended June 30, 2022, respectively. Customer Concentration A significant portion of the Company’s revenues are realized from the sale of process fluids and services to manufacturers of steel, aluminum, automobiles, aerospace, industrial and agricultural equipment, and durable goods. As previously disclosed in the Company’s 2022 Form 10-K, for the year ended December 31, 2022, the Company’s five largest customers combined (each composed of multiple subsidiaries or divisions with semiautonomous purchasing authority) accounted for approximately 11% of consolidated net sales, with its largest customer accounting for approximately 3% of consolidated net sales. Contract Assets and Liabilities The Company had no material contract assets recorded on its Condensed Consolidated Balance Sheets as of June 30, 2023 or December 31, 2022. The Company had approximately $3.1 million and $5.7 million of deferred revenue as of June 30, 2023 and December 31, 2022, respectively. For the six months ended June 30, 2023, the Company satisfied all of the associated performance obligations and recognized into revenue the advance payments received and recorded as of December 31, 2022. Disaggregated Revenue The Company sells its various industrial process fluids, its specialty chemicals and its technical expertise as a global product portfolio. The Company generally manages and evaluates its performance by reportable segment first, and then by customer industries. Net sales of each of the Company’s major product lines are generally spread throughout all three of the Company’s geographic regions, and in most cases, are approximately proportionate to the level of total sales in each region. The following tables disaggregate the Company’s net sales by geographic region, customer industries, and timing of revenue recognized. Prior period information has been recast to reflect the Company’s current period customer industry disaggregation. See Note 1 of Notes to Condensed Consolidated Financial Statements. Three Months Ended June 30, 2023 Americas EMEA Asia/Pacific Consolidated Customer Industries Metals $ 68,743 $ 32,643 $ 48,129 $ 149,515 Metalworking and other 184,476 110,890 50,563 345,929 $ 253,219 $ 143,533 $ 98,692 $ 495,444 Timing of Revenue Recognized Product sales at a point in time $ 242,497 $ 132,416 $ 95,512 $ 470,425 Services transferred over time 10,722 11,117 3,180 25,019 $ 253,219 $ 143,533 $ 98,692 $ 495,444 Six Months Ended June 30, 2023 Americas EMEA Asia/Pacific Consolidated Customer Industries Metals $ 136,877 $ 71,746 $ 94,789 $ 303,412 Metalworking and other 367,755 224,236 100,189 692,180 $ 504,632 $ 295,982 $ 194,978 $ 995,592 Timing of Revenue Recognized Product sales at a point in time $ 482,978 $ 273,922 $ 189,435 $ 946,335 Services transferred over time 21,654 22,060 5,543 49,257 $ 504,632 $ 295,982 $ 194,978 $ 995,592 Three Months Ended June 30, 2022 Americas EMEA Asia/Pacific Consolidated Customer Industries Metals $ 62,633 $ 37,622 $ 56,217 $ 156,472 Metalworking and other 173,176 107,913 54,827 335,916 $ 235,809 $ 145,535 $ 111,044 $ 492,388 Timing of Revenue Recognized Product sales at a point in time $ 224,469 $ 135,576 $ 108,555 $ 468,600 Services transferred over time 11,340 9,959 2,489 23,788 $ 235,809 $ 145,535 $ 111,044 $ 492,388 Six Months Ended June 30, 2022 Americas EMEA Asia/Pacific Consolidated Customer Industries Metals $ 117,950 $ 74,415 $ 111,899 $ 304,264 Metalworking and other 329,950 217,939 114,406 662,295 $ 447,900 $ 292,354 $ 226,305 $ 966,559 Timing of Revenue Recognized Product sales at a point in time $ 426,244 $ 272,379 $ 221,103 $ 919,726 Services transferred over time 21,656 19,975 5,202 46,833 $ 447,900 $ 292,354 $ 226,305 $ 966,559

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	Leases The Company has operating leases for certain facilities, vehicles and machinery and equipment with remaining lease terms up to 9 years. Operating lease expense is recognized on a straight-line basis over the lease term. In addition, the Company has certain land use leases with remaining lease terms up to 92 years. The Company had no material variable lease costs, sublease income, or finance leases for the three and six months ended June 30, 2023 and 2022. The components of the Company’s lease expense are as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Operating lease expense $ 3,710 $ 3,519 $ 7,646 $ 6,928 Short-term lease expense 183 205 394 424 Supplemental cash flow information related to the Company’s leases is as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,773 $ 3,442 $ 7,630 $ 6,807 Non-cash lease liabilities activity: Leased assets obtained in exchange for new operating lease liabilities 823 3,385 3,656 8,074 Supplemental balance sheet information related to the Company’s leases is as follows: June 30, December 31, Right of use lease assets $ 40,983 $ 43,766 Other current liabilities 12,423 12,024 Long-term lease liabilities 24,218 26,967 Total operating lease liabilities $ 36,641 $ 38,991 Weighted average remaining lease term (years) 4.92 5.10 Weighted average discount rate 4.54 % 4.36 % Maturities of operating lease liabilities were as follows: June 30, For the remainder of 2023 $ 7,214 For the year ended December 31, 2024 12,050 For the year ended December 31, 2025 7,902 For the year ended December 31, 2026 5,725 For the year ended December 31, 2027 2,674 For the year ended December 31, 2028 and beyond 5,618 Total lease payments 41,183 Less: imputed interest (4,542) Present value of lease liabilities $ 36,641

Restructuring and Related Activ

Restructuring and Related Activities	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities	Restructuring and Related Activities In the third quarter of 2019, the Company’s management approved a global restructuring plan (the “QH Program”) as part of its initial plan to realize certain cost synergies associated with the Combination. As of December 31, 2022, the Company substantially completed all of the initiatives under the QH Program with only an immaterial amount of remaining severance still to be paid, which is expected to be completed during 2023. In the fourth quarter of 2022, the Company’s management initiated a global cost and optimization program to improve its cost structure and drive a more profitable and productive organization. As of June 30, 2023, the program included restructuring and associated severance costs to reduce headcount by approximately 80 positions globally. These headcount reductions began in the fourth quarter of 2022 and are expected to continue throughout 2023. The exact timing to complete all actions and final costs associated will depend on a number of factors that are subject to change. Employee separation benefits vary depending on local regulations within certain foreign countries and include severance and other benefits. Restructuring costs include severance costs to reduce headcount, including customary and routine adjustments to initial estimates for employee separation costs, as well as costs to close certain facilities under the QH Program. These costs are recorded in Restructuring and related charges in the Company’s Consolidated Statements of Operations. As described in Note 4 of Notes to Consolidated Financial Statements, Restructuring and related charges are not included in the Company’s calculation of reportable segments’ measure of operating earnings and therefore these costs are not reviewed by or recorded to reportable segments. Changes in the Company’s accruals for its restructuring programs are as follows: Restructuring Programs Accrued restructuring as of December 31, 2022 $ 5,483 Restructuring and related charges, net 5,015 Cash payments (5,410) Currency translation adjustments 72 Accrued restructuring as of June 30, 2023 $ 5,160

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation The Company recognized the following share-based compensation expense in its Condensed Consolidated Statements of Operations: Three Months Ended Six Months Ended 2023 2022 2023 2022 Stock options $ 203 $ 469 $ 634 $ 736 Non-vested stock awards and restricted stock units 2,592 1,667 4,763 3,215 Director stock ownership plan 16 20 26 44 Performance stock units 1,076 815 1,991 1,438 Total share-based compensation expense $ 3,887 $ 2,971 $ 7,414 $ 5,433 Share-based compensation expense is recorded in SG&A, except for $0.1 million and $0.2 million for the three and six months ended June 30, 2022, respectively, recorded within Combination, integration and other acquisition-related expenses. Stock Options As of June 30, 2023, unrecognized compensation expense related to unvested stock options was $0.7 million, to be recognized over a weighted average remaining period of 1.1 years. Restricted Stock Awards and Restricted Stock Units During the six months ended June 30, 2023, the Company granted 37,052 non-vested restricted shares and 6,675 non-vested restricted stock units under its long-term incentive plan (“LTIP”) , which are subject to time-based vesting, generally over one The fair value of these grants is based on the last sale price of the Company’s common stock on the date of grant. As of June 30, 2023, unrecognized compensation expense related to the non-vested restricted shares was $9.6 million, to be recognized over a weighted average remaining period of 1.5 years, and unrecognized compensation expense related to non-vested restricted stock units was $2.1 million, to be recognized over a weighted average remaining period of 1.7 years. Performance Stock Units As a component of its LTIP, the Company grants performance-based stock unit awards (“PSUs”), which will be settled in a certain number of shares subject to market-based or performance-based and time-based vesting conditions. The number of fully vested shares that may ultimately be issued as settlement for each award may range from 0% up to 200% of the target award, subject to the achievement of the Company’s market-based total shareholder return (“TSR”) metric relative to the performance of the Company’s peer group, the S&P Midcap 400 Materials group, and separately the achievement of a performance-based return on invested capital (“ROIC”) measure. The service period required for the PSUs is generally three years and the measurement period of the market-based and performance objectives is generally from January 1 of the year of grant through December 31 of the year prior to issuance of the shares. Compensation expense for PSUs is measured based on the grant date fair value and is recognized on a straight-line vesting method basis over the applicable vesting period. The fair value of PSUs granted with a ROIC condition is based on the trading price of the Company’s common stock on the date of grant. PSUs granted with a relative TSR condition are valued using a Monte Carlo simulation on the date of grant. The grant-date fair value of the PSUs valued using a Monte Carlo simulation, which included the following assumptions set forth in the table below: 2023 Number of PSUs granted 15,895 Risk-free interest rate 3.85% Dividend yield 0.96% Expected term (years) 3.0 Based on the conditions of the PSUs and performance to date for each of the outstanding PSU awards as of June 30, 2023, the Company estimates that it will issue 56,272 fully vested shares as of the applicable settlement date for such outstanding PSUs awards. As of June 30, 2023, there was approximately $8.8 million of total unrecognized compensation cost related to PSUs, which the Company expects to recognize over a weighted-average period of 2.4 years.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	6 Months Ended
	Jun. 30, 2023
Retirement Benefits, Description [Abstract]
Pension and Other Postretirement Benefits	Pension and Other Postretirement Benefits The components of net periodic benefit (income) cost are as follows: Three Months Ended June 30, Six Months Ended June 30, Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits 2023 2022 2023 2022 2023 2022 2023 2022 Service cost $ 107 $ 174 $ — $ 8 $ 211 $ 354 $ — $ — Interest cost 2,511 1,317 19 2 4,973 2,677 38 11 Expected return on plan assets (2,026) (2,012) — — (4,023) (4,097) — — Actuarial loss (gain) amortization 103 248 (30) (23) 205 505 (60) (47) Prior service cost (income) amortization — 2 (4) (9) — 5 (8) (8) Net periodic benefit cost (income) $ 695 $ (271) $ (15) $ (22) $ 1,366 $ (556) $ (30) $ (44) In July 2023, one of the Company’s pension plans in the U.K. liquidated approximately $50 million of its invested assets and subsequently funded and entered into an insurance annuity contract, which will provide for the pension plan’s defined benefit obligations to participants. Employer Contributions As of June 30, 2023, $1.3 million and less than $0.1 million of contributions have been made to the Company’s U.S. and foreign pension plans and its other postretirement benefit plans, respectively. Taking into consideration current minimum cash contribution requirements, the Company currently expects to make full year cash contributions of approximately $5.2 million to its U.S. and foreign pension plans and approximately $0.2 million to its other postretirement benefit plans in 2023.

Other expense, net

Other expense, net	6 Months Ended
	Jun. 30, 2023
Other Income and Expenses [Abstract]
Other expense, net	Other expense, net The components of Other expense, net are as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Income from third party license fees $ 321 $ 249 $ 646 $ 653 Foreign exchange losses, net (4,225) (2,026) (7,551) (3,931) Non-income tax refunds and other related credits (expense) 888 (417) 1,248 (1,739) Pension and postretirement benefit (costs) income, non-service components (573) 475 (1,125) 954 Facility remediation recovery, net 187 — 1,014 — Loss on extinguishment of debt — (6,763) — (6,763) Other non-operating income, net (204) 83 (77) 221 Total other expense, net $ (3,606) $ (8,399) $ (5,845) $ (10,605) Non-income tax refunds and other related credits (expense) during both the three and six months ended June 30, 2023 and 2022, include adjustments to a Combination-related indemnification asset associated with the settlement of certain income tax audits for tax periods prior to August 1, 2019. See Note 11 of Notes to Condensed Consolidated Financial Statements. Facility remediation recovery, net, during the three and six months ended June 30, 2023, reflects gains recorded on the payments received from insurers related to previously incurred costs from the remediation and restoration of property damage. See Note 18 of Notes to the Condensed Consolidated Financial Statements. Loss on extinguishment of debt during the three and six months ended June 30, 2022, represents a write-off of certain previously unamortized deferred financing costs as well as a portion of third party and creditor debt issuance costs incurred to execute an amendment to the Company’s primary credit facility. See Note 14 of Notes to Condensed Consolidated Financial Statements.

Income Taxes and Uncertain Inco

Income Taxes and Uncertain Income Tax Positions	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes and Uncertain Income Tax Positions	Income Taxes and Uncertain Income Tax PositionsThe Company’s effective tax rates for the three and six months ended June 30, 2023 were 34.2% and 31.2%, respectively, compared to 8.1% and 10.9% for the three and six months ended June 30, 2022, respectively. The Company’s effective tax rate for the three months ended June 30, 2023 was primarily impacted by changes to the valuation allowance for and the usage of foreign tax credits due to an enacted law change in Brazil and the effects of lower pre-tax earnings and the mix of such earnings. The effective tax rate for the first six months of 2023 was further impacted by various other items including foreign tax inclusions, withholding taxes, and net tax expense related to share-based compensation, partially offset with changes in uncertain tax positions and favorable return to provision adjustments. Comparatively, the prior year effective tax rates were largely impacted by state tax benefits, changes in the foreign tax credit valuation allowance, the impact of audit settlements, a deferred tax benefit associated with an intercompany asset transfer, a reduction in reserves for uncertain tax positions relating to management fees, withholding taxes, and the effects of lower pre-tax earnings and the mix of such earnings. In addition, the Company’s effective tax rates for three and six months ended June 30, 2022 were impacted by the Company recording earnings at a statutory tax rate of 25% while the recertification of its concessionary 15% tax rate was pending receipt.Houghton Italia, S.r.l was involved in a corporate income tax audit with the Italian tax authorities covering tax years 2014 through 2018. The Company settled all years 2014 through 2018 for $3.7 million and, accordingly, released all reserves relating to this audit for the settled tax years during the first quarter of 2022. The settlement is to be paid via installments through 2026 and, through June 30, 2023, the Company paid $1.3 million of such installments. The Company has an indemnification receivable of $4.4 million in connection with its claim against the former owners of Houghton for any pre-Combination tax liabilities arising from this matter, as well as other audit settlements and tax matters.In the first quarter of 2023, the Company was notified by the Spanish tax authorities of audits to commence for several of its legal entities operating in Spain and spanning tax years 2018 through 2021. In addition, in July 2023, the Company was notified by the Italian tax authorities of an audit to commence for one of the Company’s Italian subsidiaries for tax year 2019. Both of these audit proceedings are ongoing and the Company has been providing documentation in response to all of their inquiries. The Company has not established any reserves for these matters at this time.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table summarizes earnings per share calculations: Three Months Ended Six Months Ended 2023 2022 2023 2022 Basic earnings per common share Net income attributable to Quaker Chemical Corporation $ 29,346 $ 14,343 $ 58,880 $ 34,159 Less: income allocated to participating securities (154) (58) (299) (136) Net income available to common shareholders $ 29,192 $ 14,285 $ 58,581 $ 34,023 Basic weighted average common shares outstanding 17,892,444 17,834,329 17,879,629 17,830,218 Basic earnings per common share $ 1.63 $ 0.80 $ 3.28 $ 1.91 Diluted earnings per common share Net income attributable to Quaker Chemical Corporation $ 29,346 $ 14,343 $ 58,880 $ 34,159 Less: income allocated to participating securities (154) (58) (299) (136) Net income available to common shareholders $ 29,192 $ 14,285 $ 58,581 $ 34,023 Basic weighted average common shares outstanding 17,892,444 17,834,329 17,879,629 17,830,218 Effect of dilutive securities 28,970 7,048 30,277 17,186 Diluted weighted average common shares outstanding 17,921,414 17,841,377 17,909,906 17,847,404 Diluted earnings per common share $ 1.63 $ 0.80 $ 3.27 $ 1.91 Certain stock options, restricted stock units, and PSUs are not included in the diluted earnings per share calculation when the effect would have been anti-dilutive. The calculated amount of anti-diluted shares not included were 8,232 and 10,940 for the three and six months ended June 30, 2023, respectively, and 33,039 and 24,731 for the three and six months ended June 30, 2022, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The Company completes its annual goodwill and indefinite-lived intangible asset impairment test during the fourth quarter of each year, or more frequently if triggering events indicate a possible impairment. The Company continually evaluates financial performance, economic conditions and other recent developments, including rising interest rates and the cost of capital among other factor s, in assessing if a triggering event indicates that the carrying values of goodwill, indefinite-lived, or long-lived assets are impaired. The Company concluded that during the second quarter the ongoing financial, economic or geopolitical conditions did not represent a triggering event. In connection with the Company’s reorganization and the associated change in reportable segments and reporting units during the first quarter of 2023, the Company performed the required impairment assessments directly before and immediately after the change in reporting units and concluded that it was not more likely than not that the fair values of any of the Company’s previous or new reporting units were less than their respective carrying amounts. Changes in the carrying amount of goodwill were as follows. Prior period information has been recast to reflect the Company’s current period reportable segments. See Note 1 of Notes to Condensed Consolidated Financial Statements. Americas EMEA Asia/Pacific Global Total Balance as of December 31, 2022 $ 215,899 $ 34,567 $ 150,375 $ 114,167 $ 515,008 Reallocation of reporting units 63,697 31,711 18,759 (114,167) — Balance as of January 1, 2023 279,596 66,278 169,134 — 515,008 Currency translation adjustments 3,493 (920) (10,211) — (7,638) Balance as of June 30, 2023 $ 283,089 $ 65,358 $ 158,923 $ — $ 507,370 Gross carrying amounts and accumulated amortization for definite-lived intangible assets were as follows: Gross Carrying Accumulated Net Book Value June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 Customer lists and rights to sell $ 834,707 $ 831,600 $ 217,124 $ 191,286 $ 617,583 $ 640,314 Trademarks, formulations and product technology 160,190 158,564 51,096 46,281 109,094 112,283 Other 5,885 7,576 5,760 6,390 125 1,186 Total definite-lived intangible assets $ 1,000,782 $ 997,740 $ 273,980 $ 243,957 $ 726,802 $ 753,783 The Company amortizes definite-lived intangible assets on a straight-line basis over their useful lives. The Company recorded amortization expense as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Amortization expense $ 14,692 $ 14,688 $ 29,205 $ 29,241 Estimated annual aggregate amortization expense for the current year and subsequent five years and beyond is as follows: For the remainder of 2023 $ 28,739 For the year ended December 31, 2024 57,381 For the year ended December 31, 2025 56,571 For the year ended December 31, 2026 56,354 For the year ended December 31, 2027 56,056 As of June 30, 2023 and December 31, 2022, the Company had indefinite-lived intangible assets for trademarks and tradenames totaling $191.3 million and $189.1 million, respectively.

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt The following table sets forth the components of the Company’s debt: As of June 30, 2023 As of December 31, 2022 Interest Outstanding Interest Outstanding Credit Facilities: Revolver 6.1% $ 132,895 5.2% $ 195,673 U.S. Term Loan 6.7% 588,750 5.7% 596,250 Euro Term Loan 4.9% 152,208 3.1% 151,572 Industrial development bonds 5.3% 10,000 5.3% 10,000 Bank lines of credit and other debt obligations Various 1,219 Various 1,303 Total debt $ 885,072 $ 954,798 Less: debt issuance costs (1,769) (1,992) Less: short-term and current portion of long-term debts (19,369) (19,245) Total long-term debt $ 863,934 $ 933,561 As of June 30, 2023, the Company was in compliance with all of the Credit Facility covenants. See Note 20 of Notes to Consolidated Financial Statements in the Company’s 2022 Form 10-K. The weighted average variable interest rates incurred on the outstanding borrowings under the Credit Facility during the three and six months ended June 30, 2023 were approximately 6.2% and 6.0%, respectively. As of June 30, 2023, the interest rate on the outstanding borrowings under the Credit Facility was approximately 6.3%. As part of the Credit Facility, in addition to paying interest on outstanding principal, the Company is also required to pay an annual commitment fee ranging from 0.150% to 0.275% related to unutilized commitments under the Revolver, depending on the Company’s consolidated net leverage ratio. The Company had unused capacity under the Revolver of approximately $364 million, which is net of bank letters of credit of approximately $3 million, as of June 30, 2023. In order to manage the Company’s exposure to variable interest rate risk associated with the Credit Facility, in the first quarter of 2023, the Company entered into $300.0 million notional amounts of three year interest rate swaps to convert a portion of the Company’s variable rate borrowings to an average fixed rate of 3.64% plus an applicable margin as provided in the Credit Facility based on the Company’s consolidated net leverage ratio. As of June 30, 2023, the aggregate interest rate on the swaps, including the fixed base rate plus the applicable margin, was 5.2%. See Note 17 of Notes to Condensed Consolidated Financial Statements. In connection with executing the original credit facility in 2019 and the amended Credit Facility during the second quarter of 2022, the Company capitalized an aggregate of $2.2 million of certain third-party and creditor debt issuance costs. Approximately $0.7 million of the capitalized costs were attributed to the Euro Term Loan and U.S. Term Loan. These costs were recorded as a direct reduction of Long-term debt on the Condensed Consolidated Balance Sheet. Approximately $1.5 million of the capitalized costs were attributed to the Revolver and recorded within Other assets on the Condensed Consolidated Balance Sheet. These capitalized costs will collectively be amortized into Interest expense over the five year term of the Credit Facility. As of June 30, 2023, the Company had $1.8 million of debt issuance costs recorded as a reduction of Long-term debt on the Condensed Consolidated Balance Sheet and $3.8 million of debt issuance costs recorded within Other assets on the Condensed Consolidated Balance Sheet. Comparatively, as of December 31, 2022, the Company had $2.0 million of debt issuance costs recorded as a reduction of Long-term debt on the Condensed Consolidated Balance Sheet and $4.3 million of debt issuance costs recorded within Other assets on the Condensed Consolidated Balance Sheet. Industrial development bonds As of June 30, 2023 and December 31, 2022, the Company had fixed rate, industrial development authority bonds totaling $10.0 million in principal amount due in 2028. These bonds have similar covenants to the Credit Facility noted above. Bank lines of credit and other debt obligations The Company has certain unsecured bank lines of credit and discounting facilities in certain foreign subsidiaries, which are not collateralized. The Company’s other debt obligations primarily consist of certain domestic and foreign low interest rate or interest-free municipality-related loans, local credit facilities of certain foreign subsidiaries, and capital lease obligations. Total unused capacity under these arrangements as of June 30, 2023 was approximately $34 million. In addition to the bank letters of credit described in the “Credit facilities” subsection above, the Company’s other off-balance sheet arrangements include certain financial and other guarantees. The Company’s total bank letters of credit and guarantees outstanding as of June 30, 2023 were approximately $5 million. Interest expense, net The Company incurred the following debt related expenses included within Interest expense, net, in the Condensed Consolidated Statements of Operations: Three Months Ended Six Months Ended 2023 2022 2023 2022 Interest expense $ 14,389 $ 6,134 $ 28,265 $ 10,880 Amortization of debt issuance costs 353 1,049 706 2,236 Total $ 14,742 $ 7,183 $ 28,971 $ 13,116 Based on the variable interest rates associated with the Credit Facility, as of June 30, 2023 and as of December 31, 2022, the amounts at which the Company’s total debt were recorded are not materially different from their fair market value.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income The following tables show the reclassifications from and resulting balances of accumulated other comprehensive income (“AOCI”): Currency Defined Unrealized Derivative Total Balance at March 31, 2023 $ (117,696) $ (4,721) $ (1,150) $ 390 $ (123,177) Other comprehensive (loss) income before Reclassifications (13,042) 854 979 5,420 (5,789) Amounts reclassified from AOCI — 78 591 — 669 Related tax amounts — (235) (329) (1,247) (1,811) Balance at June 30, 2023 $ (130,738) $ (4,024) $ 91 $ 4,563 $ (130,108) Balance at March 31, 2022 $ (56,710) $ (12,676) $ (603) $ (272) $ (70,261) Other comprehensive (loss) income before Reclassifications (76,400) 1,650 (1,043) 747 (75,046) Amounts reclassified from AOCI — 218 325 — 543 Related tax amounts — (461) 151 (172) (482) Balance at June 30, 2022 $ (133,110) $ (11,269) $ (1,170) $ 303 $ (145,246) Currency Defined Unrealized Derivative Total Balance as of December 31, 2022 $ (132,161) $ (4,595) $ (1,484) $ — $ (138,240) Other comprehensive income (loss) before reclassifications 1,423 611 1,442 5,926 9,402 Amounts reclassified from AOCI — 154 551 — 705 Related tax amounts — (194) (418) (1,363) (1,975) Balance as of June 30, 2023 $ (130,738) $ (4,024) $ 91 $ 4,563 $ (130,108) Balance as of December 31, 2021 $ (49,843) $ (13,172) $ 397 $ (1,372) $ (63,990) Other comprehensive (loss) income before reclassifications (83,267) 2,082 (2,320) 2,175 (81,330) Amounts reclassified from AOCI — 447 336 — 783 Related tax amounts — (626) 417 (500) (709) Balance as of June 30, 2022 $ (133,110) $ (11,269) $ (1,170) $ 303 $ (145,246) All reclassifications related to unrealized (loss) gain in available-for-sale securities relate to the Company’s equity interest in a captive insurance company and are recorded in equity in net income of associated companies. The amounts reported in other comprehensive income for noncontrolling interest are related to currency translation adjustments.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company has valued its company-owned life insurance policies at fair value. During June 2023, the Company surrendered and liquidated $1.9 million of these life insurance policies. The fair values of Company-owned life insurance assets are based on quotes for like instruments with similar credit ratings and terms. These assets are subject to fair value measurement as follows: Total Fair Value Measurements as of June 30, 2023 Assets Level 1 Level 2 Level 3 Company-owned life insurance $ 276 $ — $ 276 $ — Total $ 276 $ — $ 276 $ — Total Fair Value Measurements as of December 31, 2022 Assets Level 1 Level 2 Level 3 Company-owned life insurance $ 2,114 $ — $ 2,114 $ — Total $ 2,114 $ — $ 2,114 $ —

Hedging Activities

Hedging Activities	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Hedging Activities	Hedging ActivitiesThe Company’s ongoing business operations expose it to various risks, including fluctuating foreign exchange rates and interest rate risk. To manage these risks, the Company periodically enters into derivative financial instruments, such as foreign exchange forward contracts and interest rate swap agreements. The Company does not hold or enter into financial instruments for trading or speculative purposes. Foreign Exchange Forward Contracts A significant portion of the Company’s revenues and earnings are generated by its foreign operations. These foreign operations also represent a significant portion of the Company’s assets and liabilities. Generally, all of these foreign operations use the local currency as their functional currency and many have operations in currencies other than their functional currency, which creates foreign exchange risk. The Company uses foreign exchange forward contracts to economically hedge the impact of the variability in exchange rates on certain assets and/or liabilities denominated in certain foreign currencies. These forward contracts are marked-to-market at each reporting date. Changes in the fair value of the underlying instrument and settlements are recognized in earnings in Other expense, net. The fair value of the forward contract is determined from sources independent of the Company, including the financial institutions which are party to the derivative instruments. All open foreign exchange forward contracts as of June 30, 2023 were entered into as hedges against the U.S. Dollar. As of June 30, 2023, the Company had open foreign exchange forward contracts with a notional U.S. dollar value of the following: Currency June 30, Mexican Peso $ 23,600 Japanese Yen 4,250 $ 27,850 Open foreign exchange forward contracts as of June 30, 2023 had maturities occurring over a period of one month. Interest Rate Swaps In order to manage the Company’s exposure to variable interest rate risk associated with the Credit Facility, such as the Secured Overnight Financing Rate (“SOFR”), in the first quarter of 2023, the Company entered into $300.0 million notional amounts of three year interest rate swaps to convert a portion of the Company’s variable rate borrowings into a fixed rate obligation. See Note 14 of Notes to Condensed Consolidated Financial Statements. These interest rate swaps are designated as cash flow hedges and, as such, the contracts are marked-to-market at each reporting date and any unrealized gains or losses are included in AOCI to the extent effective and reclassified to interest expense in the period during which the transaction affects earnings or it becomes probable that the forecasted transaction will not occur. Interest rate swaps are entered into with a limited number of counterparties within several tranches, each of which allows for net settlement of all contracts through a single payment to participating counterparties in a single currency in the event of a default on or termination of any one contract. As such, in accordance with the Company’s accounting policy, these derivative instruments are recorded on a net basis within the Condensed Consolidated Balance Sheets. The balance sheet classification and fair values of the Company’s derivative instruments, which are Level 2 measurements, are as follows: Fair Value Condensed Consolidated June 30, December 31, Derivatives designated as cash flow hedges: Interest rate swaps Other non-current Assets $ 5,926 $ — $ 5,926 $ — The following table presents the net unrealized (gain) loss deferred to AOCI: June 30, December 31, Derivatives designated as cash flow hedges: Interest rate swaps AOCI $ 4,563 $ — The following table presents the net gain (loss) reclassified from AOCI to earnings: Location and Amount of Gain (Loss) Recognized in Three Months Ended Six Months Ended 2023 2022 2023 2022 Interest rate swaps Interest expense, net $ 1,061 $ (378) $ 1,061 $ (1,015) Foreign exchange forward contracts Other expense, net 1,843 — 2,135 — $ 2,904 $ (378) $ 3,196 $ (1,015)

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesThe Company previously disclosed in its 2022 Form 10-K that two of the Company’s locations suffered property damage as a result of flooding and electrical fire, respectively. The Company maintains property and flood insurance for all of its locations globally. During the three and six months ended June 30, 2023, there have been no significant changes to the facts or circumstances of this previously disclosed matter, other than ongoing work with the Company’s insurance adjuster and insurance carrier regarding the insurance claims submitted. Through June 30, 2023, the Company has received cumulative payments from its insurers of $5.9 million associated with these events. During the three and six months ended June 30, 2023, the Company recognized a gain on insurance recoveries of $0.2 million and $1.0 million, respectively. See Note 10 of Notes to the Condensed Consolidated Financial Statements.As previously disclosed in its 2022 Form 10-K, the Company is party to certain environmental matters and other litigation. See Note 26 of Notes to Consolidated Financial Statements in the Company’s 2022 Form 10-K. During the three and six months ended June 30, 2023, there have been no significant changes to the facts or circumstances of any of the previously disclosed matters. In addition, during the three and six months ended June 30, 2023, there are no new environmental matters or litigation that the Company believes will have a material adverse effect on the Company’s results of operations, cash flows, or financial condition. Although there can be no assurance regarding the outcome of any of the ongoing environmental matters or litigation the Company is party to, the Company believes that it has made adequate accruals for costs and liabilities associated with environmental matters or provisions for ongoing litigation for which it is aware. The Company has accrued approximately $6 million as of both June 30, 2023 and December 31, 2022, respectively, for these ongoing matters.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net income attributable to Quaker Chemical Corporation	$ 29,346	$ 14,343	$ 58,880	$ 34,159

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Des_2

Basis of Presentation and Description of Business (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements included herein are unaudited and have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial reporting and the United States Securities and Exchange Commission (“SEC”) regulations. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the financial statements reflect all adjustments consisting only of normal recurring adjustments, which are necessary for a fair statement of the financial position, results of operations and cash flows for the interim periods. The results for the six months ended June 30, 2023 are not necessarily indicative of the results to be expected for the full year. These financial statements should be read in conjunction with the Company’s Annual Report filed on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”). During the first quarter of 2023, the Company reorganized its executive management team to align with its new business structure. The Company’s new structure includes three reportable segments: (i) Americas; (ii) Europe, Middle East and Africa (“EMEA”); and (iii) Asia/Pacific. Prior to the Company’s reorganization, the Company’s historical reportable segments were: (i) Americas; (ii) EMEA; (iii) Asia/Pacific; and (iv) Global Specialty Businesses. Prior period information has been recast to align with the Company’s business structure as of January 1, 2023, including reportable segments, customer industry disaggregation. As a result of the Company’s new organizational structure effective January 1, 2023, the Company reallocated goodwill previously held by the former Global Specialty Businesses segment to the remaining business segments as of January 1, 2023. However, the Company did not recast the carrying amount of goodwill for the year ended December 31, 2022. See Notes 4, 5, and 13 of Notes to Condensed Consolidated Financial Statements.
Hyper-inflationary economies	Hyper-inflationary economies Argentina’s and Türkiye’s economies were considered hyper-inflationary under U.S. GAAP effective July 1, 2018 and April 1, 2022, respectively. As of, and for the three and six months ended June 30, 2023, the Company's Argentine and Turkish subsidiaries represented a combined 1% and 2% of the Company’s consolidated total assets and net sales, respectively. During the three and six months ended June 30, 2023, the Company recorded $1.1 million and $1.6 million of remeasurement losses associated with the applicable currency conversions, respectively. Comparatively, during the three and six months ended June 30, 2022, the Company recorded less than $0.1 million and $0.2 million of remeasurement losses associated with the applicable currency conversions, respectively. These losses were recorded within foreign exchange losses, net, which is a component of Other expense, net, in the Company’s Condensed Consolidated Statements of Operations.

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting, Measurement Disclosures [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table presents information about the performance of the Company’s reportable segments: Three Months Ended Six Months Ended 2023 2022 2023 2022 Net sales Americas $ 253,219 $ 235,809 $ 504,632 $ 447,900 EMEA 143,533 145,535 295,982 292,354 Asia/Pacific 98,692 111,044 194,978 226,305 Total net sales $ 495,444 $ 492,388 $ 995,592 $ 966,559 Segment operating earnings Americas $ 69,007 $ 52,137 $ 135,132 $ 97,316 EMEA 25,583 20,076 53,154 43,324 Asia/Pacific 27,989 24,922 55,641 49,423 Total segment operating earnings 122,579 97,135 243,927 190,063 Combination, integration and other acquisition-related expenses — (1,832) — (5,885) Restructuring and related (charges) credits, net (1,043) 1 (5,015) (819) Non-operating and administrative expenses (49,950) (48,579) (101,721) (92,042) Depreciation of corporate assets and amortization (14,791) (14,822) (30,467) (30,011) Operating income 56,795 31,903 106,724 61,306 Other expense, net (3,606) (8,399) (5,845) (10,605) Interest expense, net (12,721) (6,494) (25,963) (11,839) Income before taxes and equity in net income of associated companies $ 40,468 $ 17,010 $ 74,916 $ 38,862 The following table summarizes inter-segment revenues. All inter-segment transactions have been eliminated from each reportable segment’s net sales and earnings for all periods presented in the above tables. Three Months Ended Six Months Ended 2023 2022 2023 2022 Americas 2,179 3,441 5,006 6,497 EMEA 7,463 15,634 13,556 27,810 Asia/Pacific 476 115 536 412

Net Sales and Revenue Recogni_2

Net Sales and Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables disaggregate the Company’s net sales by geographic region, customer industries, and timing of revenue recognized. Prior period information has been recast to reflect the Company’s current period customer industry disaggregation. See Note 1 of Notes to Condensed Consolidated Financial Statements. Three Months Ended June 30, 2023 Americas EMEA Asia/Pacific Consolidated Customer Industries Metals $ 68,743 $ 32,643 $ 48,129 $ 149,515 Metalworking and other 184,476 110,890 50,563 345,929 $ 253,219 $ 143,533 $ 98,692 $ 495,444 Timing of Revenue Recognized Product sales at a point in time $ 242,497 $ 132,416 $ 95,512 $ 470,425 Services transferred over time 10,722 11,117 3,180 25,019 $ 253,219 $ 143,533 $ 98,692 $ 495,444 Six Months Ended June 30, 2023 Americas EMEA Asia/Pacific Consolidated Customer Industries Metals $ 136,877 $ 71,746 $ 94,789 $ 303,412 Metalworking and other 367,755 224,236 100,189 692,180 $ 504,632 $ 295,982 $ 194,978 $ 995,592 Timing of Revenue Recognized Product sales at a point in time $ 482,978 $ 273,922 $ 189,435 $ 946,335 Services transferred over time 21,654 22,060 5,543 49,257 $ 504,632 $ 295,982 $ 194,978 $ 995,592 Three Months Ended June 30, 2022 Americas EMEA Asia/Pacific Consolidated Customer Industries Metals $ 62,633 $ 37,622 $ 56,217 $ 156,472 Metalworking and other 173,176 107,913 54,827 335,916 $ 235,809 $ 145,535 $ 111,044 $ 492,388 Timing of Revenue Recognized Product sales at a point in time $ 224,469 $ 135,576 $ 108,555 $ 468,600 Services transferred over time 11,340 9,959 2,489 23,788 $ 235,809 $ 145,535 $ 111,044 $ 492,388 Six Months Ended June 30, 2022 Americas EMEA Asia/Pacific Consolidated Customer Industries Metals $ 117,950 $ 74,415 $ 111,899 $ 304,264 Metalworking and other 329,950 217,939 114,406 662,295 $ 447,900 $ 292,354 $ 226,305 $ 966,559 Timing of Revenue Recognized Product sales at a point in time $ 426,244 $ 272,379 $ 221,103 $ 919,726 Services transferred over time 21,656 19,975 5,202 46,833 $ 447,900 $ 292,354 $ 226,305 $ 966,559

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Lease, Cost	The components of the Company’s lease expense are as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Operating lease expense $ 3,710 $ 3,519 $ 7,646 $ 6,928 Short-term lease expense 183 205 394 424 Supplemental cash flow information related to the Company’s leases is as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,773 $ 3,442 $ 7,630 $ 6,807 Non-cash lease liabilities activity: Leased assets obtained in exchange for new operating lease liabilities 823 3,385 3,656 8,074 Supplemental balance sheet information related to the Company’s leases is as follows: June 30, December 31, Right of use lease assets $ 40,983 $ 43,766 Other current liabilities 12,423 12,024 Long-term lease liabilities 24,218 26,967 Total operating lease liabilities $ 36,641 $ 38,991 Weighted average remaining lease term (years) 4.92 5.10 Weighted average discount rate 4.54 % 4.36 %
Lessee, Operating Lease, Liability, Maturity	Maturities of operating lease liabilities were as follows: June 30, For the remainder of 2023 $ 7,214 For the year ended December 31, 2024 12,050 For the year ended December 31, 2025 7,902 For the year ended December 31, 2026 5,725 For the year ended December 31, 2027 2,674 For the year ended December 31, 2028 and beyond 5,618 Total lease payments 41,183 Less: imputed interest (4,542) Present value of lease liabilities $ 36,641

Restructuring and Related Act_2

Restructuring and Related Activities (Tables)	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	Changes in the Company’s accruals for its restructuring programs are as follows: Restructuring Programs Accrued restructuring as of December 31, 2022 $ 5,483 Restructuring and related charges, net 5,015 Cash payments (5,410) Currency translation adjustments 72 Accrued restructuring as of June 30, 2023 $ 5,160

Share Based Compensation (Table

Share Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Payment Arrangement, Cost by Plan	The Company recognized the following share-based compensation expense in its Condensed Consolidated Statements of Operations: Three Months Ended Six Months Ended 2023 2022 2023 2022 Stock options $ 203 $ 469 $ 634 $ 736 Non-vested stock awards and restricted stock units 2,592 1,667 4,763 3,215 Director stock ownership plan 16 20 26 44 Performance stock units 1,076 815 1,991 1,438 Total share-based compensation expense $ 3,887 $ 2,971 $ 7,414 $ 5,433
Schedule Of Monte Carlo Option Pricing Model And The Assumptions	The grant-date fair value of the PSUs valued using a Monte Carlo simulation, which included the following assumptions set forth in the table below: 2023 Number of PSUs granted 15,895 Risk-free interest rate 3.85% Dividend yield 0.96% Expected term (years) 3.0

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2023
Retirement Benefits, Description [Abstract]
Schedule of Net Benefit Costs	The components of net periodic benefit (income) cost are as follows: Three Months Ended June 30, Six Months Ended June 30, Pension Benefits Other Postretirement Benefits Pension Benefits Other Postretirement Benefits 2023 2022 2023 2022 2023 2022 2023 2022 Service cost $ 107 $ 174 $ — $ 8 $ 211 $ 354 $ — $ — Interest cost 2,511 1,317 19 2 4,973 2,677 38 11 Expected return on plan assets (2,026) (2,012) — — (4,023) (4,097) — — Actuarial loss (gain) amortization 103 248 (30) (23) 205 505 (60) (47) Prior service cost (income) amortization — 2 (4) (9) — 5 (8) (8) Net periodic benefit cost (income) $ 695 $ (271) $ (15) $ (22) $ 1,366 $ (556) $ (30) $ (44)

Other expense, net (Tables)

Other expense, net (Tables)	6 Months Ended
	Jun. 30, 2023
Other Income and Expenses [Abstract]
Schedule of Other Nonoperating Income (Expense)	The components of Other expense, net are as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Income from third party license fees $ 321 $ 249 $ 646 $ 653 Foreign exchange losses, net (4,225) (2,026) (7,551) (3,931) Non-income tax refunds and other related credits (expense) 888 (417) 1,248 (1,739) Pension and postretirement benefit (costs) income, non-service components (573) 475 (1,125) 954 Facility remediation recovery, net 187 — 1,014 — Loss on extinguishment of debt — (6,763) — (6,763) Other non-operating income, net (204) 83 (77) 221 Total other expense, net $ (3,606) $ (8,399) $ (5,845) $ (10,605)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table summarizes earnings per share calculations: Three Months Ended Six Months Ended 2023 2022 2023 2022 Basic earnings per common share Net income attributable to Quaker Chemical Corporation $ 29,346 $ 14,343 $ 58,880 $ 34,159 Less: income allocated to participating securities (154) (58) (299) (136) Net income available to common shareholders $ 29,192 $ 14,285 $ 58,581 $ 34,023 Basic weighted average common shares outstanding 17,892,444 17,834,329 17,879,629 17,830,218 Basic earnings per common share $ 1.63 $ 0.80 $ 3.28 $ 1.91 Diluted earnings per common share Net income attributable to Quaker Chemical Corporation $ 29,346 $ 14,343 $ 58,880 $ 34,159 Less: income allocated to participating securities (154) (58) (299) (136) Net income available to common shareholders $ 29,192 $ 14,285 $ 58,581 $ 34,023 Basic weighted average common shares outstanding 17,892,444 17,834,329 17,879,629 17,830,218 Effect of dilutive securities 28,970 7,048 30,277 17,186 Diluted weighted average common shares outstanding 17,921,414 17,841,377 17,909,906 17,847,404 Diluted earnings per common share $ 1.63 $ 0.80 $ 3.27 $ 1.91

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill were as follows. Prior period information has been recast to reflect the Company’s current period reportable segments. See Note 1 of Notes to Condensed Consolidated Financial Statements. Americas EMEA Asia/Pacific Global Total Balance as of December 31, 2022 $ 215,899 $ 34,567 $ 150,375 $ 114,167 $ 515,008 Reallocation of reporting units 63,697 31,711 18,759 (114,167) — Balance as of January 1, 2023 279,596 66,278 169,134 — 515,008 Currency translation adjustments 3,493 (920) (10,211) — (7,638) Balance as of June 30, 2023 $ 283,089 $ 65,358 $ 158,923 $ — $ 507,370
Schedule of Finite-Lived Intangible Assets	Gross carrying amounts and accumulated amortization for definite-lived intangible assets were as follows: Gross Carrying Accumulated Net Book Value June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 Customer lists and rights to sell $ 834,707 $ 831,600 $ 217,124 $ 191,286 $ 617,583 $ 640,314 Trademarks, formulations and product technology 160,190 158,564 51,096 46,281 109,094 112,283 Other 5,885 7,576 5,760 6,390 125 1,186 Total definite-lived intangible assets $ 1,000,782 $ 997,740 $ 273,980 $ 243,957 $ 726,802 $ 753,783
Finite-lived Intangible Assets Amortization Expense	The Company recorded amortization expense as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Amortization expense $ 14,692 $ 14,688 $ 29,205 $ 29,241
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Estimated annual aggregate amortization expense for the current year and subsequent five years and beyond is as follows: For the remainder of 2023 $ 28,739 For the year ended December 31, 2024 57,381 For the year ended December 31, 2025 56,571 For the year ended December 31, 2026 56,354 For the year ended December 31, 2027 56,056

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Debt	The following table sets forth the components of the Company’s debt: As of June 30, 2023 As of December 31, 2022 Interest Outstanding Interest Outstanding Credit Facilities: Revolver 6.1% $ 132,895 5.2% $ 195,673 U.S. Term Loan 6.7% 588,750 5.7% 596,250 Euro Term Loan 4.9% 152,208 3.1% 151,572 Industrial development bonds 5.3% 10,000 5.3% 10,000 Bank lines of credit and other debt obligations Various 1,219 Various 1,303 Total debt $ 885,072 $ 954,798 Less: debt issuance costs (1,769) (1,992) Less: short-term and current portion of long-term debts (19,369) (19,245) Total long-term debt $ 863,934 $ 933,561
Interest Income and Interest Expense Disclosure	The Company incurred the following debt related expenses included within Interest expense, net, in the Condensed Consolidated Statements of Operations: Three Months Ended Six Months Ended 2023 2022 2023 2022 Interest expense $ 14,389 $ 6,134 $ 28,265 $ 10,880 Amortization of debt issuance costs 353 1,049 706 2,236 Total $ 14,742 $ 7,183 $ 28,971 $ 13,116

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following tables show the reclassifications from and resulting balances of accumulated other comprehensive income (“AOCI”): Currency Defined Unrealized Derivative Total Balance at March 31, 2023 $ (117,696) $ (4,721) $ (1,150) $ 390 $ (123,177) Other comprehensive (loss) income before Reclassifications (13,042) 854 979 5,420 (5,789) Amounts reclassified from AOCI — 78 591 — 669 Related tax amounts — (235) (329) (1,247) (1,811) Balance at June 30, 2023 $ (130,738) $ (4,024) $ 91 $ 4,563 $ (130,108) Balance at March 31, 2022 $ (56,710) $ (12,676) $ (603) $ (272) $ (70,261) Other comprehensive (loss) income before Reclassifications (76,400) 1,650 (1,043) 747 (75,046) Amounts reclassified from AOCI — 218 325 — 543 Related tax amounts — (461) 151 (172) (482) Balance at June 30, 2022 $ (133,110) $ (11,269) $ (1,170) $ 303 $ (145,246) Currency Defined Unrealized Derivative Total Balance as of December 31, 2022 $ (132,161) $ (4,595) $ (1,484) $ — $ (138,240) Other comprehensive income (loss) before reclassifications 1,423 611 1,442 5,926 9,402 Amounts reclassified from AOCI — 154 551 — 705 Related tax amounts — (194) (418) (1,363) (1,975) Balance as of June 30, 2023 $ (130,738) $ (4,024) $ 91 $ 4,563 $ (130,108) Balance as of December 31, 2021 $ (49,843) $ (13,172) $ 397 $ (1,372) $ (63,990) Other comprehensive (loss) income before reclassifications (83,267) 2,082 (2,320) 2,175 (81,330) Amounts reclassified from AOCI — 447 336 — 783 Related tax amounts — (626) 417 (500) (709) Balance as of June 30, 2022 $ (133,110) $ (11,269) $ (1,170) $ 303 $ (145,246)

Fair Value Measurements - (Tabl

Fair Value Measurements - (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets Subject to Fair Value Measurements	These assets are subject to fair value measurement as follows: Total Fair Value Measurements as of June 30, 2023 Assets Level 1 Level 2 Level 3 Company-owned life insurance $ 276 $ — $ 276 $ — Total $ 276 $ — $ 276 $ — Total Fair Value Measurements as of December 31, 2022 Assets Level 1 Level 2 Level 3 Company-owned life insurance $ 2,114 $ — $ 2,114 $ — Total $ 2,114 $ — $ 2,114 $ —

Hedging Activities (Tables)

Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions	As of June 30, 2023, the Company had open foreign exchange forward contracts with a notional U.S. dollar value of the following: Currency June 30, Mexican Peso $ 23,600 Japanese Yen 4,250 $ 27,850
Balance Sheet Classification and Fair Values of Derivative Instruments	The balance sheet classification and fair values of the Company’s derivative instruments, which are Level 2 measurements, are as follows: Fair Value Condensed Consolidated June 30, December 31, Derivatives designated as cash flow hedges: Interest rate swaps Other non-current Assets $ 5,926 $ — $ 5,926 $ — The following table presents the net unrealized (gain) loss deferred to AOCI: June 30, December 31, Derivatives designated as cash flow hedges: Interest rate swaps AOCI $ 4,563 $ — The following table presents the net gain (loss) reclassified from AOCI to earnings: Location and Amount of Gain (Loss) Recognized in Three Months Ended Six Months Ended 2023 2022 2023 2022 Interest rate swaps Interest expense, net $ 1,061 $ (378) $ 1,061 $ (1,015) Foreign exchange forward contracts Other expense, net 1,843 — 2,135 — $ 2,904 $ (378) $ 3,196 $ (1,015)

Basis of Presentation and Des_3

Basis of Presentation and Description of Business (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($) country	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) segment country	Jun. 30, 2022 USD ($)
Number of reportable segments | segment			3
Number of countries in which entity operates | country	25		25
Argentina | Argentine and Turkish Subsidiaries
Currency conversion impacts of hyper-inflationary accounting	$ 1.1		$ 1.6
Argentina | ARGENTINA
Currency conversion impacts of hyper-inflationary accounting		$ 0.1		$ 0.2
Assets Total | Argentina | Argentine and Turkish Subsidiaries | Geographic Concentration Risk
Concentration risk percentage	1%		1%
Sales Revenue Net | Argentina | Argentine and Turkish Subsidiaries | Geographic Concentration Risk
Concentration risk percentage	2%		2%

Business Acquisitions - (Detail

Business Acquisitions - (Details) € in Millions, $ in Millions	1 Months Ended					3 Months Ended
	Oct. 31, 2022 EUR (€)	Oct. 31, 2022 USD ($)	Jan. 31, 2022 EUR (€)	Jan. 31, 2022 USD ($)	Nov. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)
Business Acquisition [Line Items]
Cash transferred to Houghton shareholders					$ 7.1
Maximum
Business Acquisition [Line Items]
Earnouts					4.5
Assets Related To Sealing And Impregnation Of Metal Castings
Business Acquisition [Line Items]
Asset acquisition, consideration transferred			€ 1.2	$ 1.4
Business Related to Pickling and Rinsing Products and Services
Business Acquisition [Line Items]
Purchase price	€ 3.5	$ 3.5
Business Related To Pickling Inhibitor Technologies
Business Acquisition [Line Items]
Purchase price				$ 8
Purchase accounting adjustments						$ 0.1
Baron Industries
Business Acquisition [Line Items]
Purchase price					$ 11
Earnouts							$ 1.3
Post closing adjustment including earnouts						$ 0.1
Coral Chemical Company (Coral) | Maximum
Business Acquisition [Line Items]
Loss contingency, estimate of possible loss							1.5
Coral Chemical Company (Coral) | Minimum
Business Acquisition [Line Items]
Loss contingency, estimate of possible loss							$ 0

Business Segments - Narrative (

Business Segments - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 segment
Segment Reporting, Measurement Disclosures [Abstract]
Number of reportable segments	3

Business Segments - Performance

Business Segments - Performance of Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Net sales	$ 495,444	$ 492,388	$ 995,592	$ 966,559
Combination, integration and other acquisition-related expenses	0	(1,832)	0	(5,885)
Restructuring and related (charges) credits, net	(1,043)	1	(5,015)	(819)
Non-operating and administrative expenses	(49,950)	(48,579)	(101,721)	(92,042)
Depreciation of corporate assets and amortization	(14,791)	(14,822)	(30,467)	(30,011)
Operating income	56,795	31,903	106,724	61,306
Other expense, net	(3,606)	(8,399)	(5,845)	(10,605)
Interest expense, net	(12,721)	(6,494)	(25,963)	(11,839)
Income before taxes and equity in net income of associated companies	40,468	17,010	74,916	38,862
Operating Segments
Segment Reporting Information [Line Items]
Net sales	495,444	492,388	995,592	966,559
Segment operating earnings	122,579	97,135	243,927	190,063
Operating Segments | Americas
Segment Reporting Information [Line Items]
Net sales	253,219	235,809	504,632	447,900
Segment operating earnings	69,007	52,137	135,132	97,316
Operating Segments | EMEA
Segment Reporting Information [Line Items]
Net sales	143,533	145,535	295,982	292,354
Segment operating earnings	25,583	20,076	53,154	43,324
Operating Segments | Asia/Pacific
Segment Reporting Information [Line Items]
Net sales	98,692	111,044	194,978	226,305
Segment operating earnings	27,989	24,922	55,641	49,423
Intersegment Sales Elimination | Americas
Segment Reporting Information [Line Items]
Net sales	2,179	3,441	5,006	6,497
Intersegment Sales Elimination | EMEA
Segment Reporting Information [Line Items]
Net sales	7,463	15,634	13,556	27,810
Intersegment Sales Elimination | Asia/Pacific
Segment Reporting Information [Line Items]
Net sales	$ 476	$ 115	$ 536	$ 412

Net Sales and Revenue Recogni_3

Net Sales and Revenue Recognition - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) segment	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Concentration Risk [Line Items]
Revenue recognized under net reporting arrangements	$ 21	$ 20.5	$ 41.7	$ 40.3
Deferred revenue	$ 3.1		$ 3.1		$ 5.7
Number of reportable segments | segment			3
Customer Concentration Risk | Sales Revenue Net | Top Five Customers
Concentration Risk [Line Items]
Concentration risk percentage					11%
Customer Concentration Risk | Sales Revenue Net | Largest Customer
Concentration Risk [Line Items]
Concentration risk percentage					3%

Net Sales and Revenue Recogni_4

Net Sales and Revenue Recognition - Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Product Information [Line Items]
Net sales	$ 495,444	$ 492,388	$ 995,592	$ 966,559
Operating Segments
Product Information [Line Items]
Net sales	495,444	492,388	995,592	966,559
Operating Segments | Product sales at a point in time
Product Information [Line Items]
Net sales	470,425	468,600	946,335	919,726
Operating Segments | Services transferred over time
Product Information [Line Items]
Net sales	25,019	23,788	49,257	46,833
Operating Segments | Metals
Product Information [Line Items]
Net sales	149,515	156,472	303,412	304,264
Operating Segments | Metalworking and other
Product Information [Line Items]
Net sales	345,929	335,916	692,180	662,295
Operating Segments | Americas
Product Information [Line Items]
Net sales	253,219	235,809	504,632	447,900
Operating Segments | Americas | Product sales at a point in time
Product Information [Line Items]
Net sales	242,497	224,469	482,978	426,244
Operating Segments | Americas | Services transferred over time
Product Information [Line Items]
Net sales	10,722	11,340	21,654	21,656
Operating Segments | Americas | Metals
Product Information [Line Items]
Net sales	68,743	62,633	136,877	117,950
Operating Segments | Americas | Metalworking and other
Product Information [Line Items]
Net sales	184,476	173,176	367,755	329,950
Operating Segments | EMEA
Product Information [Line Items]
Net sales	143,533	145,535	295,982	292,354
Operating Segments | EMEA | Product sales at a point in time
Product Information [Line Items]
Net sales	132,416	135,576	273,922	272,379
Operating Segments | EMEA | Services transferred over time
Product Information [Line Items]
Net sales	11,117	9,959	22,060	19,975
Operating Segments | EMEA | Metals
Product Information [Line Items]
Net sales	32,643	37,622	71,746	74,415
Operating Segments | EMEA | Metalworking and other
Product Information [Line Items]
Net sales	110,890	107,913	224,236	217,939
Operating Segments | Asia/Pacific
Product Information [Line Items]
Net sales	98,692	111,044	194,978	226,305
Operating Segments | Asia/Pacific | Product sales at a point in time
Product Information [Line Items]
Net sales	95,512	108,555	189,435	221,103
Operating Segments | Asia/Pacific | Services transferred over time
Product Information [Line Items]
Net sales	3,180	2,489	5,543	5,202
Operating Segments | Asia/Pacific | Metals
Product Information [Line Items]
Net sales	48,129	56,217	94,789	111,899
Operating Segments | Asia/Pacific | Metalworking and other
Product Information [Line Items]
Net sales	$ 50,563	$ 54,827	$ 100,189	$ 114,406

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Lessee, Lease, Description [Line Items]
Variable lease cost	$ 0	$ 0	$ 0	$ 0
Sublease income	$ 0	$ 0	$ 0	$ 0
Facilities Vehicles and Machinery and Equipment
Lessee, Lease, Description [Line Items]
Remaining lease terms	9 years		9 years
Land
Lessee, Lease, Description [Line Items]
Remaining lease terms	92 years		92 years

Leases - Supplemental Informati

Leases - Supplemental Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Lease, Cost [Abstract]
Operating lease expense	$ 3,710	$ 3,519	$ 7,646	$ 6,928
Short-term lease expense	183	205	394	424
Supplemental cash flow information related to leases
Operating cash flows from operating leases	3,773	3,442	7,630	6,807
Leased assets obtained in exchange for new operating lease liabilities	823	$ 3,385	3,656	$ 8,074
Supplemental balance sheet information
Right of use lease assets	40,983		40,983		$ 43,766
Other current liabilities	12,423		12,423		12,024
Long-term lease liabilities	24,218		24,218		26,967
Total operating lease liabilities	$ 36,641		$ 36,641		$ 38,991
Weighted average remaining lease term (years)	4 years 11 months 1 day		4 years 11 months 1 day		5 years 1 month 6 days
Weighted average discount rate	4.54%		4.54%		4.36%

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
For the remainder of 2023	$ 7,214
For the year ended December 31, 2024	12,050
For the year ended December 31, 2025	7,902
For the year ended December 31, 2026	5,725
For the year ended December 31, 2027	2,674
For the year ended December 31, 2028 and beyond	5,618
Total lease payments	41,183
Less: imputed interest	(4,542)
Present value of lease liabilities	$ 36,641	$ 38,991

Restructuring and Related Act_3

Restructuring and Related Activities (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) position	Jun. 30, 2022 USD ($)
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated | position			80
Restructuring Reserve [Roll Forward]
Restructuring and related charges, net	$ 1,043	$ (1)	$ 5,015	$ 819
Restructuring Programs
Restructuring Reserve [Roll Forward]
Accrued restructuring, beginning balance			5,483
Restructuring and related charges, net			5,015
Cash payments			(5,410)
Currency translation adjustments			72
Accrued restructuring, ending balance	$ 5,160		$ 5,160

Share-Based Compensation - Shar

Share-Based Compensation - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 3,887	$ 2,971	$ 7,414	$ 5,433
Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	203	469	634	736
Non-vested stock awards and restricted stock units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	2,592	1,667	4,763	3,215
Director stock ownership plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	16	20	26	44
Performance stock units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 1,076	$ 815	$ 1,991	$ 1,438

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 3,887	$ 2,971	$ 7,414	$ 5,433
Combination And Other Acquisition-Related
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	100		200
Share-Based Payment Arrangement, Option
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized compensation expense, options	700		$ 700
Weighted average remaining life, nonvested stock awards			1 year 1 month 6 days
Restricted Stock
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Weighted average remaining life, nonvested stock awards			1 year 6 months
Nonvested stock awards granted (in shares)			37,052
Unrecognized share-based compensation expense, nonvested stock award	9,600		$ 9,600
Restricted Stock | Minimum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Option award vesting period			1 year
Restricted Stock | Maximum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Option award vesting period			3 years
Restricted Stock Units (RSUs)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Weighted average remaining life, nonvested stock awards			1 year 8 months 12 days
Nonvested stock awards granted (in shares)			6,675
Unrecognized share-based compensation expense, nonvested stock award	2,100		$ 2,100
Performance stock units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	1,076	$ 815	1,991	$ 1,438
Unrecognized compensation expense, options	$ 8,800		$ 8,800
Weighted average remaining life, nonvested stock awards			2 years 4 months 24 days
Vesting shares target lower percent			0%
Vesting shares target upper percent			200%
Estimated future PSUs issued (in shares)	56,272		56,272
Performance stock units | Maximum
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Option award vesting period			3 years

Share-Based Compensation - Mont

Share-Based Compensation - Monte Carlo Simulation on Grant Date (Details) - Performance stock units	6 Months Ended
	Jun. 30, 2023 shares
2023 Grants
Number of PSUs granted (in shares)	15,895
Risk-free interest rate	3.85%
Dividend yield	0.96%
Expected term (years)	3 years

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pension Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 107	$ 174	$ 211	$ 354
Interest cost	2,511	1,317	4,973	2,677
Expected return on plan assets	(2,026)	(2,012)	(4,023)	(4,097)
Actuarial loss (gain) amortization	103	248	205	505
Prior service cost (income) amortization	0	2	0	5
Net periodic benefit cost (income)	695	(271)	1,366	(556)
Other Postretirement Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	0	8	0	0
Interest cost	19	2	38	11
Expected return on plan assets	0	0	0	0
Actuarial loss (gain) amortization	(30)	(23)	(60)	(47)
Prior service cost (income) amortization	(4)	(9)	(8)	(8)
Net periodic benefit cost (income)	$ (15)	$ (22)	$ (30)	$ (44)

Pension and Other Postretirem_4

Pension and Other Postretirement Benefits - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	Jul. 31, 2023	Jun. 30, 2023
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions		$ 1.3
Expected future employer contributions, remainder of fiscal year		5.2
Pension Benefits | Subsequent Event
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, liquidated assets	$ 50
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions		0.1
Expected future employer contributions, remainder of fiscal year		$ 0.2

Other expense, net (Details)

Other expense, net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other Income and Expenses [Abstract]
Income from third party license fees	$ 321	$ 249	$ 646	$ 653
Foreign exchange losses, net	(4,225)	(2,026)	(7,551)	(3,931)
Non-income tax refunds and other related credits (expense)	888	(417)	1,248	(1,739)
Pension and postretirement benefit (costs) income, non-service components	(573)	475	(1,125)	954
Facility remediation recovery, net	187	0	1,014	0
Loss on extinguishment of debt	0	(6,763)	0	(6,763)
Other non-operating income, net	(204)	83	(77)	221
Total other expense, net	$ (3,606)	$ (8,399)	$ (5,845)	$ (10,605)

Income Taxes and Uncertain In_2

Income Taxes and Uncertain Income Tax Positions - (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Examination [Line Items]
Effective tax rate	34.20%	8.10%	31.20%	10.90%
Italy | Houghton | Foreign Tax Authority
Income Tax Examination [Line Items]
Tax settlement final amount due to tax authorities	$ 3.7		$ 3.7
Cumulative payments for tax settlements	$ 1.3		1.3
Unrecognized tax benefits, period increase			$ 4.4

Earnings Per Share - Basic (Det

Earnings Per Share - Basic (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net income attributable to Quaker Chemical Corporation	$ 29,346	$ 14,343	$ 58,880	$ 34,159
Less: income allocated to participating securities	(154)	(58)	(299)	(136)
Net income available to common shareholders	$ 29,192	$ 14,285	$ 58,581	$ 34,023
Basic weighted average common shares outstanding (in shares)	17,892,444	17,834,329	17,879,629	17,830,218
Basic earnings per common share (in dollars per share)	$ 1.63	$ 0.80	$ 3.28	$ 1.91

Earnings Per Share - Diluted (D

Earnings Per Share - Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net income attributable to Quaker Chemical Corporation	$ 29,346	$ 14,343	$ 58,880	$ 34,159
Less: income allocated to participating securities	(154)	(58)	(299)	(136)
Net income available to common shareholders	$ 29,192	$ 14,285	$ 58,581	$ 34,023
Basic weighted average common shares outstanding (in shares)	17,892,444	17,834,329	17,879,629	17,830,218
Effect of dilutive securities (in shares)	28,970	7,048	30,277	17,186
Diluted weighted average common shares outstanding (in shares)	17,921,414	17,841,377	17,909,906	17,847,404
Net income attributable to Quaker Chemical Corporation common shareholders – diluted (in dollars per share)	$ 1.63	$ 0.80	$ 3.27	$ 1.91

Earnings Per Share - Earnings P

Earnings Per Share - Earnings Per Share Calculations Antidilutive Shares (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Antidilutive shares (in share)	8,232	33,039	10,940	24,731

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 515,008
Currency translation adjustments	(7,638)
Ending balance	507,370
Previously Reported
Goodwill [Roll Forward]
Beginning balance	515,008
Reallocation of Reporting Units
Goodwill [Roll Forward]
Reallocation of reporting units	0
Operating Segments | Advanced solutions
Goodwill [Roll Forward]
Beginning balance	0
Currency translation adjustments	0
Ending balance	0
Operating Segments | Advanced solutions | Previously Reported
Goodwill [Roll Forward]
Beginning balance	114,167
Operating Segments | Advanced solutions | Reallocation of Reporting Units
Goodwill [Roll Forward]
Reallocation of reporting units	(114,167)
Operating Segments | Americas
Goodwill [Roll Forward]
Beginning balance	279,596
Currency translation adjustments	3,493
Ending balance	283,089
Operating Segments | Americas | Previously Reported
Goodwill [Roll Forward]
Beginning balance	215,899
Operating Segments | Americas | Reallocation of Reporting Units
Goodwill [Roll Forward]
Reallocation of reporting units	63,697
Operating Segments | EMEA
Goodwill [Roll Forward]
Beginning balance	66,278
Currency translation adjustments	(920)
Ending balance	65,358
Operating Segments | EMEA | Previously Reported
Goodwill [Roll Forward]
Beginning balance	34,567
Operating Segments | EMEA | Reallocation of Reporting Units
Goodwill [Roll Forward]
Reallocation of reporting units	31,711
Operating Segments | Asia/Pacific
Goodwill [Roll Forward]
Beginning balance	169,134
Currency translation adjustments	(10,211)
Ending balance	158,923
Operating Segments | Asia/Pacific | Previously Reported
Goodwill [Roll Forward]
Beginning balance	150,375
Operating Segments | Asia/Pacific | Reallocation of Reporting Units
Goodwill [Roll Forward]
Reallocation of reporting units	$ 18,759

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Gross Carrying Amounts and Accumulated Amortization for Definite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,000,782	$ 997,740
Accumulated Amortization	273,980	243,957
Net Book Value	726,802	753,783
Customer lists and rights to sell
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	834,707	831,600
Accumulated Amortization	217,124	191,286
Net Book Value	617,583	640,314
Trademarks, formulations and product technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	160,190	158,564
Accumulated Amortization	51,096	46,281
Net Book Value	109,094	112,283
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,885	7,576
Accumulated Amortization	5,760	6,390
Net Book Value	$ 125	$ 1,186

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 14,692	$ 14,688	$ 29,205	$ 29,241

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Intangible Assets - Future Amortization (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
For the remainder of 2023	$ 28,739
For the year ended December 31, 2024	57,381
For the year ended December 31, 2025	56,571
For the year ended December 31, 2026	56,354
For the year ended December 31, 2027	$ 56,056

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Indefinite Lived (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Indefinite lived intangible assets	$ 191.3
Houghton Combination
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived trademarks		$ 189.1

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Outstanding Balance	$ 885,072	$ 954,798
Less: debt issuance costs	(1,769)	(1,992)
Less: short-term and current portion of long-term debts	(19,369)	(19,245)
Long-term debt	$ 863,934	$ 933,561
Revolver
Debt Instrument [Line Items]
Interest Rate	6.10%	5.20%
Outstanding Balance	$ 132,895	$ 195,673
U.S. Term Loan
Debt Instrument [Line Items]
Interest Rate	6.70%	5.70%
Outstanding Balance	$ 588,750	$ 596,250
Euro Term Loan
Debt Instrument [Line Items]
Interest Rate	4.90%	3.10%
Outstanding Balance	$ 152,208	$ 151,572
Industrial development bonds
Debt Instrument [Line Items]
Interest Rate	5.30%	5.30%
Outstanding Balance	$ 10,000	$ 10,000
Bank lines of credit and other debt obligations
Debt Instrument [Line Items]
Outstanding Balance	$ 1,219	$ 1,303

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Interest rate swaps
Debt Instrument [Line Items]
Derivative liability, notional amount		$ 300
Derivative term		3 years
Derivative, fixed interest rate		3.64%
Derivative variable interest rate	5.20%		5.20%
Other Assets
Debt Instrument [Line Items]
Debt issuance costs	$ 3.8		$ 3.8	$ 4.3
Euro Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 150
Debt issuance costs					0.7
U.S. Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity					600
Debt issuance costs					0.7
Revolver
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 500
Credit faclity as percentage of consolidated EBITDA					100%
Borrowings outstanding	364		364
Letters of credit outstanding amount	3		3
Debt issuance costs	$ 1.8		$ 1.8	2
Revolver | Other Assets
Debt Instrument [Line Items]
Debt issuance costs					$ 1.5
Amended Credit Facility
Debt Instrument [Line Items]
Maximum increase in borrowing capacity					300
Debt issuance costs					$ 2.2
Long-term debt term					5 years
Amended Credit Facility | Maximum
Debt Instrument [Line Items]
Commitment fee percentage			0.275%
Amended Credit Facility | Minimum
Debt Instrument [Line Items]
Commitment fee percentage			0.15%
Original Credit Facility and the Amended Credit Facility
Debt Instrument [Line Items]
Long-term debt, weighted average interest rate, over time	6.20%		6%
Original Credit Facility
Debt Instrument [Line Items]
Long-term debt interest rate	6.30%		6.30%
Corporate Bond Securities
Debt Instrument [Line Items]
Industrial development revenue bond	$ 10		$ 10	$ 10
Bank lines of credit and other debt obligations
Debt Instrument [Line Items]
Letters of credit outstanding amount	5		5
Remaining borrowing capacity	$ 34		$ 34

Debt - Debt Related Expenses In

Debt - Debt Related Expenses Included within Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Debt related expenses included within Interest expense:
Interest expense	$ 14,389	$ 6,134	$ 28,265	$ 10,880
Amortization of debt issuance costs	353	1,049	706	2,236
Total	$ 14,742	$ 7,183	$ 28,971	$ 13,116

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income - AOCI Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			$ (138,240)
Other comprehensive (loss) income before Reclassifications	$ (5,789)	$ (75,046)	9,402	$ (81,330)
Amounts reclassified from AOCI	669	543	705	783
Related tax amounts	(1,811)	(482)	(1,975)	(709)
Ending Balance	(130,108)		(130,108)
Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(117,696)	(56,710)	(132,161)	(49,843)
Other comprehensive (loss) income before Reclassifications	(13,042)	(76,400)	1,423	(83,267)
Amounts reclassified from AOCI	0	0	0	0
Related tax amounts	0	0	0	0
Ending Balance	(130,738)	(133,110)	(130,738)	(133,110)
Defined Benefit Pension Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(4,721)	(12,676)	(4,595)	(13,172)
Other comprehensive (loss) income before Reclassifications	854	1,650	611	2,082
Amounts reclassified from AOCI	78	218	154	447
Related tax amounts	(235)	(461)	(194)	(626)
Ending Balance	(4,024)	(11,269)	(4,024)	(11,269)
Unrealized (Loss) Gain in Available-for- Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(1,150)	(603)	(1,484)	397
Other comprehensive (loss) income before Reclassifications	979	(1,043)	1,442	(2,320)
Amounts reclassified from AOCI	591	325	551	336
Related tax amounts	(329)	151	(418)	417
Ending Balance	91	(1,170)	91	(1,170)
Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	390	(272)	0	(1,372)
Other comprehensive (loss) income before Reclassifications	5,420	747	5,926	2,175
Amounts reclassified from AOCI	0	0	0	0
Related tax amounts	(1,247)	(172)	(1,363)	(500)
Ending Balance	4,563	303	4,563	303
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(123,177)	(70,261)	(138,240)	(63,990)
Ending Balance	$ (130,108)	$ (145,246)	$ (130,108)	$ (145,246)

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Millions	1 Months Ended
	Jun. 30, 2023 USD ($)
Fair Value Disclosures [Abstract]
Surrendered and liquidated life insurance policies	$ 1.9

Fair Value Measurements - Asset

Fair Value Measurements - Assets Subject to Fair Value Measurement (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Company-owned life insurance	$ 276	$ 2,114
Total	276	2,114
Level 1
Assets
Company-owned life insurance	0	0
Total	0	0
Level 2
Assets
Company-owned life insurance	276	2,114
Total	276	2,114
Level 3
Assets
Company-owned life insurance	0	0
Total	$ 0	$ 0

Hedging Activities - Notional A

Hedging Activities - Notional Amounts of Net Foreign Exchange Hedge Positions (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Derivative [Line Items]
Notional amount	$ 27,850
Mexican Peso
Derivative [Line Items]
Notional amount	23,600
Japanese Yen
Derivative [Line Items]
Notional amount	$ 4,250

Hedging Activities - Narrative

Hedging Activities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2023
Foreign currency forward contracts
Derivative [Line Items]
Derivative term		1 month
Interest rate swaps
Derivative [Line Items]
Derivative term	3 years
Derivative liability, notional amount	$ 300

Hedging Activities - Balance Sh

Hedging Activities - Balance Sheet Classification and Fair Values (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Fair Value		$ 0		$ 5,926
Net gain (loss) reclassified from AOCI to earnings	$ 2,904		$ (378)	3,196	$ (1,015)
Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss) reclassified from AOCI to earnings	1,061		(378)	1,061	(1,015)
Other expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Net gain (loss) reclassified from AOCI to earnings	$ 1,843		$ 0	2,135	$ 0
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Net unrealized loss deferred to AOCI				4,563		$ 0
Interest rate swaps | Other non-current Assets
Derivative Instruments, Gain (Loss) [Line Items]
Fair Value				$ 5,926		$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($) location
Insurance Claims
Loss Contingencies [Line Items]
Number of locations that suffered property damage | location			2
Proceeds from insurance settlement		$ 5.9
Gain on insurance recoveries	$ 0.2	1
Houghton Environmental Matters
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	$ 6	$ 6	$ 6