Earnings Per Share

3 Months Ended

Mar. 31, 2023

The following table summarizes earnings per share calculations:


	Three Months Ended March 31,
	2023		2022
Basic earnings per common share
Net income attributable to Quaker Chemical Corporation	$	29,534	$	19,816
Less: income allocated to participating securities	(145)		(78)
Net income available to common shareholders	$	29,389	$	19,738
Basic weighted average common shares outstanding	17,866,670		17,826,061
Basic earnings per common share	$	1.64	$	1.11

Diluted earnings per common share
Net income attributable to Quaker Chemical Corporation	$	29,534	$	19,816
Less: income allocated to participating securities	(145)		(78)
Net income available to common shareholders	$	29,389	$	19,738
Basic weighted average common shares outstanding	17,866,670		17,826,061
Effect of dilutive securities	32,076		25,798
Diluted weighted average common shares outstanding	17,898,746		17,851,859
Diluted earnings per common share	$	1.64	$	1.11

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 15,327 and 12,260 for the three months ended March 31, 2023 and 2022, respectively.