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Investments in Associated Companies
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Associated Companies Investments in Associated Companies
As of December 31, 2025, the Company held a 50% investment in and had significant influence over Nippon Quaker Chemical, Ltd. (“Nippon Japan”), Kelko Quaker Chemical, S.A. (“Kelko Panama”) and Houghton Korea, held a 32% investment in and had significant influence over Primex, Ltd. (“Primex”), and a 30% investment in and had significant influence over Surteckariya (Thailand) Co., Ltd. (“SKT”), which was acquired as part of the Dipsol acquisition during the second quarter of 2025.
The carrying amount of the Company’s equity investments as of December 31, 2025 was $106.9 million, which includes investments of $65.6 million in Houghton Korea; $29.1 million in Primex; $6.7 million in Nippon Japan; $5.0 million in SKT, and $0.5 million in Kelko Panama. The carrying amount of the Company’s equity investments as of December 31, 2024 was $98.0 million, which includes investments of $66.3 million in Houghton Korea; $24.9 million in Primex; $6.3 million in Nippon Japan; and $0.5 million in Kelko Panama.
Dividends and distributions received from associated companies by investment were $8.8 million, $9.1 million, and $4.2 million in the years ended December 31, 2025, 2024 and 2023.
The following table is a summary of equity income in associated companies by investment for the years ending December 31, 2025, 2024 and 2023:
202520242023
Houghton Korea$9,185 $6,795 $11,442 
Nippon Japan1,085 925 1,492 
Kelko Panama370 321 309 
SKT265 — — 
Primex4,272 2,930 2,090 
Total equity in net income of associated companies$15,177 $10,971 $15,333