Selected Financial Data
| (In thousands except per share data, percentages, dividends and number of employees) | 2016(1) | 2015(2)(6) (re-cast) |
2014(3)(6) (re-cast) |
2013(4)(6) (re-cast) |
2012(5)(6) (re-cast) |
|---|---|---|---|---|---|
Summary of Operations |
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| Net sales | $746,665 | $737,555 | $765,860 | $729,395 | $708,226 |
| Income before taxes and equity in net income of associated companies | 84,009 | 70,230 | 78,293 | 72,826 | 62,948 |
| Net income attributable to Quaker Chemical Corporation | 61,403 | 51,180 | 56,492 | 56,339 | 47,405 |
| Per share | |||||
| Net income attributable to Quaker Chemical Corporation | |||||
| Common Shareholders—basic | 4.64 | 3.84 | 4.27 | 4.28 | 3.64 |
| Net income attributable to Quaker Chemical Corporation | |||||
| Common Shareholders—diluted | 4.63 | 3.84 | 4.26 | 4.27 | 3.63 |
| Dividends declared | 1.355 | 1.260 | 1.150 | 0.995 | 0.975 |
| Dividends paid | 1.33 | 1.24 | 1.10 | 0.99 | 0.97 |
Financial Position |
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| Current assets (6) | 376,468 | 358,031 | 343,151 | 321,021 | 271,409 |
| Current liabilities (6) | 127,411 | 124,514 | 124,169 | 129,799 | 107,539 |
| Working capital (6) | 249,057 | 233,517 | 218,982 | 191,222 | 163,870 |
| Property, plant and equipment, net | 85,734 | 87,619 | 85,763 | 85,488 | 85,112 |
| Total assets (6) | 692,028 | 680,727 | 664,376 | 583,642 | 535,790 |
| Long-term debt | 65,769 | 81,439 | 75,328 | 17,321 | 30,000 |
| Total equity | 412,606 | 381,243 | 365,135 | 344,696 | 289,676 |
Other data |
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| Current ratio | 2.95/1 | 2.88/1 | 2.76/1 | 2.47/1 | 2.52/1 |
| Capital expenditures | 9,954 | 11,033 | 13,052 | 11,439 | 12,735 |
| Net income as a percentage of net sales | 8.2% | 6.9% | 7.4% | 7.7% | 6.7% |
| Return on average equity | 15.5% | 13.7% | 15.9% | 17.8% | 17.2% |
| Equity per share at end of year | 31.07 | 28.69 | 27.45 | 26.12 | 22.12 |
| Common stock per share price range: | |||||
| High | 139.92 | 95.74 | 93.56 | 81.52 | 54.00 |
| Low | 68.20 | 75.04 | 65.19 | 53.54 | 35.82 |
| Number of shares outstanding at end of year | 13,278 | 13,288 | 13,301 | 13,196 | 13,095 |
| Number of employees at end of year: | |||||
| Consolidated subsidiaries | 2,020 | 2,040 | 1,941 | 1,783 | 1,711 |
| Associated companies | 70 | 71 | 70 | 74 | 65 |
- Net income attributable to Quaker Chemical Corporation in 2016 includes equity income from a captive insurance company of $1.7 million after tax; and $0.4 million of a credit related to the Company’s 2015 global restructuring program; offset by $1.5 million of certain uncommon transaction-related expenses incurred with the execution of, and diligence on, acquisition candidates; and an after-tax charge of $0.1 million related to a currency conversion charge at the Company’s 50% owned equity affiliate in Venezuela.
- Net income attributable to Quaker Chemical Corporation in 2015 includes equity income from a captive insurance company of $2.1 million after tax; offset by an after-tax charge of $2.8 million related to a currency conversion charge at the Company’s 50% owned equity affiliate in Venezuela; $2.8 million of certain uncommon transaction-related expenses related to the execution of, and diligence on, acquisition candidates; $0.2 million of charges related to cost streamlining initiatives in the Company’s South American segment; $0.3 million of charges related to certain U.S. customer bankruptcies; and $6.8 million of charges related to the Company’s 2015 global restructuring program.
- Net income attributable to Quaker Chemical Corporation in 2014 includes equity income from a captive insurance company of $2.4 million after tax; offset by an after-tax charge of $0.3 million related to a currency conversion charge at the Company’s 50% owned equity affiliate in Venezuela; $1.2 million of charges related to cost streamlining initiatives in the Company’s EMEA and South American segments; a $0.9 million charge related to a U.K. pension plan amendment; and $0.8 million of charges related to certain customer bankruptcies.
- Net income attributable to Quaker Chemical Corporation in 2013 includes equity income from a captive insurance company of $5.5 million after tax; an increase to other income of $2.5 million related to a mineral oil excise tax refund; and an increase to other income of $0.5 million related to a change in an acquisition-related earnout liability; partially offset by an after-tax charge of $0.4 million related to a currency conversion charge at the Company’s 50% owned equity affiliate in Venezuela; $1.4 million of charges related to cost streamlining initiatives in the Company’s EMEA and South American segments; and a $0.8 million net charge related to a non-income tax contingency.
- Net income attributable to Quaker Chemical Corporation in 2012 includes equity income from a captive insurance company of $1.8 million after tax; and an increase to other income of $1.7 million related to a change in an acquisition-related earnout liability; partially offset by a charge of $1.3 million related to the bankruptcy of certain customers in the U.S.; and a charge of $0.6 million related to CFO transition costs.
- Current assets, current liabilities, working capital and total assets for the years ended December 31, 2015, 2014, 2013 and 2012, respectively, have been re-cast to reflect the Company’s early adoption in 2016 of an accounting standard update regarding the classification of deferred taxes on the balance sheet. The update requires that all deferred tax assets and liabilities, along with any related valuation allowances, be classified as noncurrent on the balance sheet.