2018 Q1 Form 10-Q Financial Statement
#000008136218000006 Filed on April 30, 2018
Income Statement
Concept | 2018 Q1 | 2017 Q1 |
---|---|---|
Revenue | $212.1M | $194.9M |
YoY Change | 8.8% | 9.45% |
Cost Of Revenue | $136.6M | $124.0M |
YoY Change | 10.15% | 12.65% |
Gross Profit | $75.45M | $70.89M |
YoY Change | 6.43% | 4.27% |
Gross Profit Margin | 35.58% | 36.37% |
Selling, General & Admin | $50.01M | $48.05M |
YoY Change | 4.06% | -0.18% |
% of Gross Profit | 66.28% | 67.79% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $3.194M | $3.157M |
YoY Change | 1.17% | 0.0% |
% of Gross Profit | 4.23% | 4.45% |
Operating Expenses | $50.01M | $48.05M |
YoY Change | 4.06% | -0.18% |
Operating Profit | $20.23M | $13.76M |
YoY Change | 47.05% | -30.65% |
Interest Expense | $1.692M | $656.0K |
YoY Change | 157.93% | -11.47% |
% of Operating Profit | 8.36% | 4.77% |
Other Income/Expense, Net | -$369.0K | -$105.0K |
YoY Change | 251.43% | -202.94% |
Pretax Income | $18.66M | $13.52M |
YoY Change | 38.01% | -30.83% |
Income Tax | $5.556M | $6.865M |
% Of Pretax Income | 29.78% | 50.78% |
Net Earnings | $12.73M | $6.992M |
YoY Change | 82.09% | -45.99% |
Net Earnings / Revenue | 6.0% | 3.59% |
Basic Earnings Per Share | $0.96 | $0.53 |
Diluted Earnings Per Share | $0.95 | $0.52 |
COMMON SHARES | ||
Basic Shares Outstanding | 13.25M shares | 13.18M shares |
Diluted Shares Outstanding | 13.28M shares | 13.22M shares |
Balance Sheet
Concept | 2018 Q1 | 2017 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $92.60M | $90.60M |
YoY Change | 2.21% | -4.03% |
Cash & Equivalents | $92.58M | $90.59M |
Short-Term Investments | ||
Other Short-Term Assets | $22.40M | $15.20M |
YoY Change | 47.37% | -25.85% |
Inventory | $96.30M | $87.10M |
Prepaid Expenses | ||
Receivables | $218.1M | $201.9M |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $429.3M | $394.9M |
YoY Change | 8.72% | 3.55% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $87.83M | $85.23M |
YoY Change | 3.05% | -2.29% |
Goodwill | $81.68M | |
YoY Change | 2.1% | |
Intangibles | $71.97M | $72.95M |
YoY Change | -1.34% | -0.83% |
Long-Term Investments | $25.03M | $24.06M |
YoY Change | 4.03% | 13.54% |
Other Assets | $44.70M | $28.84M |
YoY Change | 54.99% | -11.0% |
Total Long-Term Assets | $315.2M | $314.1M |
YoY Change | 0.34% | 0.29% |
TOTAL ASSETS | ||
Total Short-Term Assets | $429.3M | $394.9M |
Total Long-Term Assets | $315.2M | $314.1M |
Total Assets | $744.5M | $709.0M |
YoY Change | 5.01% | 2.08% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $103.5M | $90.22M |
YoY Change | 14.75% | 29.34% |
Accrued Expenses | $14.90M | $14.30M |
YoY Change | 4.2% | -27.04% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | $5.700M | $700.0K |
YoY Change | 714.29% | 16.67% |
Total Short-Term Liabilities | $157.4M | $139.2M |
YoY Change | 13.11% | 20.63% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $69.65M | $65.65M |
YoY Change | 6.09% | -32.75% |
Other Long-Term Liabilities | $85.58M | $70.09M |
YoY Change | 22.09% | -11.23% |
Total Long-Term Liabilities | $155.2M | $135.7M |
YoY Change | 14.36% | -23.13% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $157.4M | $139.2M |
Total Long-Term Liabilities | $155.2M | $135.7M |
Total Liabilities | $321.7M | $287.0M |
YoY Change | 12.08% | -5.28% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | $373.2M | $366.8M |
YoY Change | 1.74% | 11.26% |
Common Stock | $107.1M | $126.1M |
YoY Change | -15.12% | 4.08% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $421.5M | $411.0M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $744.5M | $709.0M |
YoY Change | 5.01% | 2.08% |
Cashflow Statement
Concept | 2018 Q1 | 2017 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $12.73M | $6.992M |
YoY Change | 82.09% | -45.99% |
Depreciation, Depletion And Amortization | $3.194M | $3.157M |
YoY Change | 1.17% | 0.0% |
Cash From Operating Activities | $2.746M | $8.300M |
YoY Change | -66.92% | -23.85% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $3.449M | $2.531M |
YoY Change | 36.27% | 16.53% |
Acquisitions | $500.0K | $0.00 |
YoY Change | -100.0% | |
Other Investing Activities | -$500.0K | $0.00 |
YoY Change | -100.0% | |
Cash From Investing Activities | -$3.901M | -$2.500M |
YoY Change | 56.04% | -24.24% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | $4.724M | $4.583M |
YoY Change | 3.08% | 8.01% |
Common Stock Issuance & Retirement, Net | $0.00 | |
YoY Change | -100.0% | |
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | $1.545M | -5.800M |
YoY Change | -126.64% | -234.88% |
NET CHANGE | ||
Cash From Operating Activities | $2.746M | 8.300M |
Cash From Investing Activities | -$3.901M | -2.500M |
Cash From Financing Activities | $1.545M | -5.800M |
Net Change In Cash | $2.636M | $1.544M |
YoY Change | 70.73% | -87.03% |
FREE CASH FLOW | ||
Cash From Operating Activities | $2.746M | $8.300M |
Capital Expenditures | $3.449M | $2.531M |
Free Cash Flow | -$703.0K | $5.769M |
YoY Change | -112.19% | -33.9% |
Facts In Submission
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Sales Revenue Net
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Interest Expense
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Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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Net Income Loss Available To Common Stockholders Diluted
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PrepaidExpenseAndOtherAssetsCurrent
|
22365000 | USD |
CY2017Q4 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
44439000 | USD |
CY2017Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
30000000 | shares |
CY2017Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
13307976 | shares |
CY2017Q4 | us-gaap |
Inventory Finished Goods And Work In Process
InventoryFinishedGoodsAndWorkInProcess
|
42782000 | USD |
CY2016Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-87407000 | USD |
CY2018Q1 | us-gaap |
Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
|
674000 | USD |
CY2017Q4 | us-gaap |
Goodwill
Goodwill
|
86034000 | USD |
CY2017Q4 | us-gaap |
Minority Interest
MinorityInterest
|
1946000 | USD |
CY2017Q4 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
25690000 | USD |
CY2018Q1 | kwr |
Other Comprehensive Income Loss Before Reclassifications
OtherComprehensiveIncomeLossBeforeReclassifications
|
5624000 | USD |
CY2017Q4 | us-gaap |
Assets Current
AssetsCurrent
|
406586000 | USD |
CY2018Q1 | us-gaap |
Assets Current
AssetsCurrent
|
429300000 | USD |
CY2018Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
262623000 | USD |
CY2018Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
174791000 | USD |
CY2018Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
87832000 | USD |
CY2018Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
70872000 | USD |
CY2018Q1 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
25033000 | USD |
CY2018Q1 | us-gaap |
Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
|
13103000 | USD |
CY2017Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
255990000 | USD |
CY2017Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
169286000 | USD |
CY2017Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
86704000 | USD |
CY2017Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
71603000 | USD |
CY2017Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
30049000 | USD |
CY2017Q4 | us-gaap |
Assets
Assets
|
722327000 | USD |
CY2018Q1 | us-gaap |
Debt Current
DebtCurrent
|
5707000 | USD |
CY2018Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
103525000 | USD |
CY2018Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
14855000 | USD |
CY2018Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
33350000 | USD |
CY2018Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
157437000 | USD |
CY2017Q4 | us-gaap |
Debt Current
DebtCurrent
|
5736000 | USD |
CY2017Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
97732000 | USD |
CY2017Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
22846000 | USD |
CY2017Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
29384000 | USD |
CY2017Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
155698000 | USD |
CY2018Q1 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
69648000 | USD |
CY2018Q1 | us-gaap |
Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
|
9037000 | USD |
CY2018Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
85580000 | USD |
CY2018Q1 | us-gaap |
Liabilities
Liabilities
|
321702000 | USD |
CY2018Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
13323000 | USD |
CY2018Q1 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
93731000 | USD |
CY2018Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
373185000 | USD |
CY2017Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
13308000 | USD |
CY2017Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
93528000 | USD |
CY2017Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
365182000 | USD |
CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
406918000 | USD |
CY2017Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
722327000 | USD |
CY2018Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
1 | |
CY2018Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
30000000 | shares |
CY2017Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
1 | |
CY2017Q4 | kwr |
Cash Surrender Value Company Owned Life Insurance Fair Value Disclosure
CashSurrenderValueCompanyOwnedLifeInsuranceFairValueDisclosure
|
1594000 | USD |
CY2017Q4 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
1594000 | USD |
CY2017Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
6800000 | USD |
CY2017Q4 | us-gaap |
Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
|
600000 | USD |
CY2017Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
|
1000000 | USD |
CY2018Q1 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
7800000 | USD |
CY2018Q1 | us-gaap |
Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
|
700000 | USD |
CY2018Q1 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
|
1200000 | USD |
CY2018Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.298 | pure |
CY2017Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.508 | pure |
CY2018Q1 | kwr |
Finite Lived Intangible Assets Amortization Expense Current Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseCurrentFiscalYear
|
7473000 | USD |
CY2018Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
7357000 | USD |
CY2018Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
7065000 | USD |
CY2018Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
6687000 | USD |
CY2018Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
6525000 | USD |
CY2018Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
6295000 | USD |
CY2018Q1 | us-gaap |
Indefinite Lived Trademarks
IndefiniteLivedTrademarks
|
1100000 | USD |
CY2018Q1 | us-gaap |
Dividends Common Stock
DividendsCommonStock
|
4729000 | USD |
CY2018Q1 | kwr |
Stock Issued During Period Value And Adjustments To Additional Paid In Capital Share Based Compensation And Exercise Of Stock Options
StockIssuedDuringPeriodValueAndAdjustmentsToAdditionalPaidInCapitalShareBasedCompensationAndExerciseOfStockOptions
|
218000 | USD |
CY2018Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
5556000 | USD |
CY2018Q1 | kwr |
Income Loss From Continuing Operations Before Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
13103000 | USD |
CY2018Q1 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-316000 | USD |
CY2018Q1 | us-gaap |
Profit Loss
ProfitLoss
|
12787000 | USD |
CY2018Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
55000 | USD |
CY2018Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
12732000 | USD |
CY2017Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-105000 | USD |
CY2018Q1 | kwr |
Reclassifications From Accumulated Comprehensive Income Loss To Income Statement
ReclassificationsFromAccumulatedComprehensiveIncomeLossToIncomeStatement
|
-611000 | USD |
CY2018Q1 | us-gaap |
Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
|
6235000 | USD |
CY2018Q1 | us-gaap |
Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
|
-127000 | USD |
CY2018Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
6362000 | USD |
CY2017Q1 | kwr |
Other Comprehensive Income Loss Before Reclassifications
OtherComprehensiveIncomeLossBeforeReclassifications
|
5252000 | USD |
CY2017Q1 | kwr |
Reclassifications From Accumulated Comprehensive Income Loss To Income Statement
ReclassificationsFromAccumulatedComprehensiveIncomeLossToIncomeStatement
|
-490000 | USD |
CY2017Q1 | us-gaap |
Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
|
5742000 | USD |
CY2017Q1 | us-gaap |
Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
|
296000 | USD |
CY2017Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
5446000 | USD |
CY2017Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-65100000 | USD |
CY2017Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
408864000 | USD |
CY2017Q1 | us-gaap |
Increase Decrease In Restructuring Reserve
IncreaseDecreaseInRestructuringReserve
|
-148000 | USD |
CY2017Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
421975000 | USD |
CY2018Q1 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
|
100000 | USD |
CY2017Q1 | kwr |
Unrecognized Tax Benefits Interest Income On Income Taxes
UnrecognizedTaxBenefitsInterestIncomeOnIncomeTaxes
|
200000 | USD |
CY2017Q1 | us-gaap |
Dividends Common Stock
DividendsCommonStock
|
4587000 | USD |
CY2017Q1 | kwr |
Stock Issued During Period Value And Adjustments To Additional Paid In Capital Share Based Compensation And Exercise Of Stock Options
StockIssuedDuringPeriodValueAndAdjustmentsToAdditionalPaidInCapitalShareBasedCompensationAndExerciseOfStockOptions
|
376000 | USD |
CY2018Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
422763000 | USD |
CY2016Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
412606000 | USD |
CY2017Q1 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-81961000 | USD |
CY2018Q1 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-58738000 | USD |
CY2018Q1 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
13322550 | shares |
CY2017Q4 | us-gaap |
Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
|
200000 | USD |
CY2018Q1 | us-gaap |
Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
|
200000 | USD |
CY2018Q1 | kwr |
Cash Surrender Value Company Owned Life Insurance Fair Value Disclosure
CashSurrenderValueCompanyOwnedLifeInsuranceFairValueDisclosure
|
1544000 | USD |
CY2018Q1 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
1544000 | USD |
CY2017Q1 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
124022000 | USD |
CY2017Q1 | us-gaap |
Gross Profit
GrossProfit
|
70887000 | USD |
CY2017Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
48054000 | USD |
CY2017Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.345 | |
CY2018Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
212055000 | USD |
CY2018Q1 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
136608000 | USD |
CY2018Q1 | us-gaap |
Gross Profit
GrossProfit
|
75447000 | USD |
CY2018Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
50007000 | USD |
CY2017Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
13758000 | USD |
CY2018Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
20231000 | USD |
CY2018Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-369000 | USD |
CY2018Q1 | us-gaap |
Interest Expense
InterestExpense
|
1692000 | USD |
CY2018Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
489000 | USD |
CY2018Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
18659000 | USD |
CY2018Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.96 | |
CY2018Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.355 | |
CY2018Q1 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
150000 | USD |
CY2017Q1 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
1142000 | USD |
CY2018Q1 | us-gaap |
Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
|
2632000 | USD |
CY2017Q1 | us-gaap |
Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
|
2263000 | USD |
CY2018Q1 | us-gaap |
Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
|
5209000 | USD |
CY2017Q1 | us-gaap |
Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
|
9075000 | USD |
CY2018Q1 | kwr |
Pension And Post Retirement Benefit Costs Nonservice Components
PensionAndPostRetirementBenefitCostsNonserviceComponents
|
576000 | USD |
CY2017Q1 | kwr |
Pension And Post Retirement Benefit Costs Nonservice Components
PensionAndPostRetirementBenefitCostsNonserviceComponents
|
566000 | USD |
CY2017Q4 | us-gaap |
Finite Lived Customer Lists Gross
FiniteLivedCustomerListsGross
|
76581000 | USD |
CY2017Q4 | us-gaap |
Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
|
6114000 | USD |
CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
115720000 | USD |
CY2018Q1 | us-gaap |
Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
|
100000 | USD |
CY2017Q1 | us-gaap |
Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
|
400000 | USD |
CY2017Q4 | kwr |
Finitelivedtrademarksformulationsandproducttechnologygross1
Finitelivedtrademarksformulationsandproducttechnologygross1
|
33025000 | USD |
CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
45217000 | USD |
CY2018Q1 | kwr |
Combinationrelatedexpensesnetofpayements
Combinationrelatedexpensesnetofpayements
|
2161000 | USD |
CY2017Q1 | kwr |
Combinationrelatedexpensesnetofpayements
Combinationrelatedexpensesnetofpayements
|
8415000 | USD |
CY2018Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2246000 | USD |
CY2017Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1563000 | USD |
CY2018Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
2636000 | USD |
CY2017Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
1544000 | USD |
CY2018Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
92581000 | USD |
CY2017Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
89879000 | USD |
CY2018Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
113686000 | USD |
CY2017Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
111050000 | USD |
CY2017Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
112245000 | USD |
CY2016Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
110701000 | USD |
CY2018Q1 | us-gaap |
Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
|
834000 | USD |
CY2017Q1 | us-gaap |
Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
|
0 | USD |
CY2018Q1 | us-gaap |
Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
|
<div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' >Note </font><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >3</font><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' > – </font><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Recently Issued Accounting Standards</font></p><p style='text-align:left;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:18pt;' >The Financial Accounting Standards Board (“FASB”) issued an accounting standard update in February 2018 that allows a reclassification from accumulated other comprehensive income </font><font style='font-family:Times New Roman;font-size:10pt;' >(“AOCI”) </font><font style='font-family:Times New Roman;font-size:10pt;' >to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act enacted in December 2017. The guidance within this accounting standard update is effective for annual and interim periods beginning after December 15, 2018, and should </font><font style='font-family:Times New Roman;font-size:10pt;' >be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. Early adoption is permitted. The Company has not ear</font><font style='font-family:Times New Roman;font-size:10pt;' >ly adopted the guidance and is currently evaluating </font><font style='font-family:Times New Roman;font-size:10pt;' >its</font><font style='font-family:Times New Roman;font-size:10pt;' > implementation.</font></p><p style='text-align:left;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:18pt;' >The FASB issued an accounting standard update in January 2017 to clarify the definition of a business with the objective of adding guidance to assist companies with evaluating whether </font><font style='font-family:Times New Roman;font-size:10pt;' >transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in this accounting standard update provide a more robust framework to use in determining when a set of assets and activities is a business. The gu</font><font style='font-family:Times New Roman;font-size:10pt;' >idance within this accounting standard update is effective for annual and interim periods beginning after December 15, 2017. Early adoption was permitted in limited circumstances, and the amendments in this accounting standard update should be applied pro</font><font style='font-family:Times New Roman;font-size:10pt;' >spectively, with no disclosures required at transition. The Company adopted the guidance in the first quarter of 2018, as required, with no impa</font><font style='font-family:Times New Roman;font-size:10pt;' >ct to its financial statements.</font></p><p style='text-align:left;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:18pt;' >The FASB issued an accounting standard update in November 2016 requiring that t</font><font style='font-family:Times New Roman;font-size:10pt;' >he statement of cash flows explain both the change in the total cash and cash equivalents, and, also, the amounts generally described as restricted cash or restricted cash equivalents. This will require amounts generally described as restricted cash or re</font><font style='font-family:Times New Roman;font-size:10pt;' >stricted cash equivalents be included with cash and cash equivalents when reconciling the beginning and ending amounts shown on the statement of cash flows. The guidance within this accounting standard update is effective for annual and interim periods be</font><font style='font-family:Times New Roman;font-size:10pt;' >ginning after December 15, 2017. Early adoption was permitted and the guidance requires application using a retrospective transition method to each period presented when adopted. The Company adopted the guidance in the first quarter of 2018, as required.</font><font style='font-family:Times New Roman;font-size:10pt;' > Adoption of the guidance did not have an impact on the Company’s earnings or balance sheet but did result in changes to certain disclosures within the statement of cash flows, including cash flows from investing activities and total cash, cash equivalent</font><font style='font-family:Times New Roman;font-size:10pt;' >s and restricted cash. See Note </font><font style='font-family:Times New Roman;font-size:10pt;' >12</font><font style='font-family:Times New Roman;font-size:10pt;' > of Notes to Condensed Cons</font><font style='font-family:Times New Roman;font-size:10pt;' >olidated Financial Statements.</font></p><p style='text-align:left;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:18pt;' >The FASB issued an accounting standard update in October 2016 to improve the accounting for the income tax consequences of intra-entity transfers of assets other</font><font style='font-family:Times New Roman;font-size:10pt;' > than inventory.</font><font style='font-family:Times New Roman;font-size:10pt;' > T</font><font style='font-family:Times New Roman;font-size:10pt;' >he provisions in this update will allow an entity to recognize current and deferred income taxes of an intra-entity transfer of an asset other than inventory when the transfer occurs rather than when the asset has been sold to an outside</font><font style='font-family:Times New Roman;font-size:10pt;' > party.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >The guidance within this accounting standard update is effective for annual and interim periods beginning after December 15, 2017.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Early adoption was permitted and the guidance requires application on a modified retrospective basis through a cumu</font><font style='font-family:Times New Roman;font-size:10pt;' >lative-effect adjustment directly to retained earnings as of the beginning of the period of adoption.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company adopted the guidance in the first quarter of 2018, as required, with no impac</font><font style='font-family:Times New Roman;font-size:10pt;' >t to its financial statements.</font></p><p style='text-align:left;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:18pt;' >The FASB issued an accounting sta</font><font style='font-family:Times New Roman;font-size:10pt;' >ndard update in August 2016 to standardize how certain transactions are classified in the statement of cash flows. Specific transactions covered by the accounting standard update include debt prepayment or debt extinguishment costs, settlement of zero-cou</font><font style='font-family:Times New Roman;font-size:10pt;' >pon debt instruments, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate and bank owned life insurance policies, distributions received from equit</font><font style='font-family:Times New Roman;font-size:10pt;' >y method investments and beneficial interest in securitization transactions. The guidance within this accounting standard update is effective for annual and interim periods beginning after December 15, 2017. Early adoption was permitted, provided that al</font><font style='font-family:Times New Roman;font-size:10pt;' >l of the amendments are adopted in the same period. The guidance requires application using a retrospective transition method. The Company adopted the guidance in the first quarter of 2018, as required, with no impac</font><font style='font-family:Times New Roman;font-size:10pt;' >t to its financial statements.</font></p><p style='text-align:left;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:18pt;' >The FAS</font><font style='font-family:Times New Roman;font-size:10pt;' >B issued an accounting standard update in February 2016 regarding the accounting and disclosure for leases. Specifically, the update will require entities that lease assets to recognize the assets and liabilities for the rights and obligations created by </font><font style='font-family:Times New Roman;font-size:10pt;' >those leases on the balance sheet, in most instances. The guidance within this accounting standard update is effective for annual and interim periods beginning after December 15, 2018, and should be applied on a modified retrospective basis for the report</font><font style='font-family:Times New Roman;font-size:10pt;' >ing periods presented. Early adoption is permitted</font><font style='font-family:Times New Roman;font-size:10pt;' >, but t</font><font style='font-family:Times New Roman;font-size:10pt;' >he Company has not early adopted</font><font style='font-family:Times New Roman;font-size:10pt;' >. </font><font style='font-family:Times New Roman;font-size:10pt;' >As of March 31, 2018, the Company has begun its impact assessment and implementation planning, including taking an inventory of its outstanding leases globally, es</font><font style='font-family:Times New Roman;font-size:10pt;' >tablishing a cross functional project team and evaluating software solutions that could potentially assist in facilitating the end-to-end leasing process, including adoption of this lease accounting guidance. While the Company’s evaluation of this guidanc</font><font style='font-family:Times New Roman;font-size:10pt;' >e is in the early stages, the Company </font><font style='font-family:Times New Roman;font-size:10pt;' >anticipates</font><font style='font-family:Times New Roman;font-size:10pt;' > adoption of this guidance to have an impact on its balance sheet as </font><font style='font-family:Times New Roman;font-size:10pt;' >it expects the majority of its </font><font style='font-family:Times New Roman;font-size:10pt;' >operating leases will be recorded on</font><font style='font-family:Times New Roman;font-size:10pt;' > its </font><font style='font-family:Times New Roman;font-size:10pt;' >balance sheet by establishing right of use assets and associated </font><font style='font-family:Times New Roman;font-size:10pt;' >lease liabilities.</font></p><p style='text-align:left;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:18pt;' >The FASB issued an accounting standard update in May 2014 regarding the accounting for and disclosure of revenue recognition. Specifically, the update outlined a single comprehensive model for entities to use in accounting for revenue a</font><font style='font-family:Times New Roman;font-size:10pt;' >rising from contracts with customers, which will be common to both U.S. GAAP and International Financial Reporting Standards. The guidance was effective for annual and interim periods beginning after December 15, 2016, and allowed for full retrospective a</font><font style='font-family:Times New Roman;font-size:10pt;' >doption of prior period data or a modified retrospective adoption. Early adoption was not permitted. In August 2015, the FASB issued an accounting standard update to delay the effective date of the new revenue standard by one year, or, in other words, to</font><font style='font-family:Times New Roman;font-size:10pt;' > be effective for annual and interim periods beginning after December 15, 2017. Entities </font><font style='font-family:Times New Roman;font-size:10pt;' >were</font><font style='font-family:Times New Roman;font-size:10pt;' > permitted to adopt the new revenue standard early but not before the original effective date. During 2016 and 2017, the FASB issued a series of accounting stand</font><font style='font-family:Times New Roman;font-size:10pt;' >ard updates to clarify and expand on </font><font style='font-family:Times New Roman;font-size:10pt;' >the implementation guidance, including principal versus agent considerations, identification of performance obligations, licensing, other technical corrections and adding certain practical expedients. The amendments in</font><font style='font-family:Times New Roman;font-size:10pt;' > these 2016 and 2017 updates did not change the core principles of the guidance previously issued in May 2014.</font></p><p style='text-align:left;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:18pt;' >As part of the Company’s impact assessment for the implementation of the new revenue recognition guidance, the Company reviewed its historical ac</font><font style='font-family:Times New Roman;font-size:10pt;' >counting policies and practices to identify potential differences with the requirements of the new revenue recognition standard, as it related to the Company’s contracts and sales arrangements. In addition, the impact assessment and work performed include</font><font style='font-family:Times New Roman;font-size:10pt;' >d global and cross functional interviews and questionnaires, sales agreement and other sales document reviews, as well as technical considerations for the Company’s future transactional accounting, financial reporting and disclosure requirements. The Comp</font><font style='font-family:Times New Roman;font-size:10pt;' >any has also begun </font><font style='font-family:Times New Roman;font-size:10pt;' >a </font><font style='font-family:Times New Roman;font-size:10pt;' >preliminary </font><font style='font-family:Times New Roman;font-size:10pt;' >assessment of</font><font style='font-family:Times New Roman;font-size:10pt;' > how the new revenue recognition guidance may impact Houghton, as it pertains to the </font><font style='font-family:Times New Roman;font-size:10pt;' >pending</font><font style='font-family:Times New Roman;font-size:10pt;' > Combination.</font></p><p style='text-align:left;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:18pt;' >The Company adopted the guidance in the first quarter of 2018, as required, electing to use a modified r</font><font style='font-family:Times New Roman;font-size:10pt;' >etrospective adoption approach applied to those contracts which were not completed as of January 1, 2018. Comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. In addition, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company elected to apply certain of the permitted practical expedients within the revenue recognition guidance and make certain accounting policy elections including those related to significant financing components, sales taxes and shipping and handli</font><font style='font-family:Times New Roman;font-size:10pt;' >ng activities. </font><font style='font-family:Times New Roman;font-size:10pt;' >Adoption of the revenue recognition guidance did not have a material impact on the Company’s reported earnings</font><font style='font-family:Times New Roman;font-size:10pt;' > or</font><font style='font-family:Times New Roman;font-size:10pt;' > cash flows, however, adoption did increase the amount and level of disclosures concerning the Company’s n</font><font style='font-family:Times New Roman;font-size:10pt;' >et sales and did resu</font><font style='font-family:Times New Roman;font-size:10pt;' >lt in one a</font><font style='font-family:Times New Roman;font-size:10pt;' >djustment</font><font style='font-family:Times New Roman;font-size:10pt;' > to the Company’s balance sheet</font><font style='font-family:Times New Roman;font-size:10pt;' >. As a result of the Company’s impact assessment and adoption using the modified retrospective adoption approach the Company recorded an adjustment to its Condensed Consolidated Balance Sheet as of Decemb</font><font style='font-family:Times New Roman;font-size:10pt;' >er 31, 2017 to </font><font style='font-family:Times New Roman;font-size:10pt;' >adjust </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company’s estimate of variable consideration relating to customers</font><font style='font-family:Times New Roman;font-size:10pt;' >’ expected rights to</font><font style='font-family:Times New Roman;font-size:10pt;' > return</font><font style='font-family:Times New Roman;font-size:10pt;' > product</font><font style='font-family:Times New Roman;font-size:10pt;' >. This adjustment resulted in an increase to other current liabilities of $1.0 million, an increase to non-current deferred tax </font><font style='font-family:Times New Roman;font-size:10pt;' >assets of $0.2 million and a decrease to retained earnings of $0.8 million. There were no other impacts recorded as a result of adopting the revenue recognition guidance. The impact of adoption of the new revenue recognition guidance was immaterial for t</font><font style='font-family:Times New Roman;font-size:10pt;' >he three months ended March 31, 2018 and the Company expects the impact to be immaterial on an ongoing basis. </font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >See Note </font><font style='font-family:Times New Roman;font-size:10pt;' >4 </font><font style='font-family:Times New Roman;font-size:10pt;' >of Notes to Condensed Cons</font><font style='font-family:Times New Roman;font-size:10pt;' >olidated Financial Statements.</font></p></div> | |
CY2018Q1 | us-gaap |
Deferred Revenue
DeferredRevenue
|
1300000 | USD |
CY2017Q4 | us-gaap |
Deferred Revenue
DeferredRevenue
|
1500000 | USD |
CY2018Q1 | us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
1500000 | USD |
CY2018Q1 | kwr |
Net Reporting Amount
NetReportingAmount
|
11600000 | USD |
CY2017Q1 | kwr |
Net Reporting Amount
NetReportingAmount
|
10400000 | USD |
CY2018Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
13322550 | shares |
CY2018Q1 | us-gaap |
Finite Lived Customer Lists Gross
FiniteLivedCustomerListsGross
|
76663000 | USD |
CY2018Q1 | us-gaap |
Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
|
6123000 | USD |
CY2018Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
117007000 | USD |
CY2018Q1 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
834000 | USD |
CY2017Q4 | us-gaap |
Business Combination Separately Recognized Transactions Liabilities Recognized
BusinessCombinationSeparatelyRecognizedTransactionsLiabilitiesRecognized
|
5500000 | USD |
CY2018Q1 | us-gaap |
Business Combination Separately Recognized Transactions Liabilities Recognized
BusinessCombinationSeparatelyRecognizedTransactionsLiabilitiesRecognized
|
7600000 | USD |
CY2017Q1 | us-gaap |
Business Combination Separately Recognized Transactions Additional Disclosures Acquisition Cost Expensed
BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed
|
9100000 | USD |
CY2018Q1 | us-gaap |
Business Combination Separately Recognized Transactions Additional Disclosures Acquisition Cost Expensed
BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed
|
6100000 | USD |
CY2018Q1 | us-gaap |
Business Combination Separately Recognized Transactions Description
BusinessCombinationSeparatelyRecognizedTransactionsDescription
|
On April 4, 2017, Quaker entered into a share purchase agreement with Gulf Houghton Lubricants, Ltd. to purchase the entire issued and outstanding share capital of Houghton International, Inc. (“Houghton”) (herein referred to as “the Combination”). The shares will be bought for aggregate purchase consideration consisting of: (i) $172.5 million in cash; (ii) a number of shares of common stock, $1.00 par value per share, of the Company comprising 24.5% of the common stock outstanding upon the closing of the Combination; and (iii) the Company’s assumption of Houghton’s net indebtedness as of the closing of the Combination, which was approximately $690 million at signing. At closing, the total aggregate purchase consideration is dependent on the Company’s stock price and the level of Houghton’s indebtedness. The Company secured $1.15 billion in commitments from Bank of America Merrill Lynch and Deutsche Bank to fund the Combination and to provide additional liquidity, and has since replaced these commitments with a syndicated bank agreement (“the New Credit Facility”) with a group of lenders for $1.15 billion. The New Credit Facility is contingent upon and will not be effective until the closing of the Combination. During April 2018, the Company extended the bank commitment for the New Credit Facility through August 4, 2018. In connection with this extension, the Company adjusted slightly the currency mix of the term loan component of the New Credit Facility. As adjusted, the New Credit Facility is now comprised of a $400.0 million multicurrency revolver, a $600.0 million USD term loan and a $150.0 million EUR equivalent term loan, each with a five-year term from the date the New Credit Facility becomes effective. The maximum amount available under the New Credit Facility can be increased by $200.0 million at the Company’s option if the lenders agree and the Company satisfies certain conditions. Borrowings under the New Credit Facility will bear interest at a base rate or LIBOR rate plus a margin. The Company currently estimates the annual floating rate cost will be in the 3.50% to 3.75% range based on current market interest rates. The New Credit Facility will be subject to certain financial and other covenants, including covenants that the Company’s consolidated net debt to adjusted EBITDA ratio cannot initially exceed 4.25 to 1 and the Company’s consolidated adjusted EBITDA to interest expense ratio cannot be less than 3.0 to 1. Both the USD and EUR equivalent term loans will have quarterly principal amortization during their respective five-year terms, with 5% amortization of the principal balance due in years 1 and 2, 7.5% in year 3, and 10% in years 4 and 5, with the remaining principal amounts due at maturity. Until closing, the Company will incur certain interest costs paid to maintain the bank commitment (“ticking fees”), which began to accrue on September 29, 2017 and bear an interest rate of 0.30% per annum. In addition, the issuance of the Company’s shares at closing of the Combination was subject to approval by Quaker’s shareholders under the rules of the New York Stock Exchange. This approval was received at a meeting of the Company’s shareholders during the third quarter of 2017. Also, the Combination is subject to regulatory approval in the United States, Europe, China and Australia. The Company received regulatory approval from China and Australia in 2017. Depending on the timing of the remaining regulatory approvals and other customary terms and conditions set forth in the share purchase agreement, the Company currently estimates closing of the Combination will occur over the next few months. | |
CY2018Q1 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
|
0.21 | pure |
CY2018Q1 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.35 | pure |
CY2018Q1 | kwr |
Ustaxreformact
Ustaxreformact
|
As previously disclosed in its Annual Report filed on Form 10-K for the year ended December 31, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as U.S. Tax Reform on December 22, 2017. U.S. Tax Reform includes multiple changes to the U.S. tax code with varying effects on the Company’s results for the three months ended March 31, 2018. The SEC staff issued guidance on accounting for the tax effects of U.S. Tax Reform and provided a one-year measurement period for companies to complete the accounting. Companies are required to reflect the income tax effects of those aspects of U.S. Tax Reform for which the accounting is complete. To the extent that a company’s accounting for certain income tax effects of U.S. Tax Reform are incomplete but the company is able to determine a reasonable estimate, it must record a provisional estimate in its financial statements. The Company has made reasonable interpretations and assumptions with regard to various uncertainties and ambiguities in the application of certain provisions of U.S. Tax Reform. It is possible that the Internal Revenue Service (“IRS”) could issue subsequent guidance or take positions on audit that differ from the Company’s interpretations and assumptions. The Company currently believes subsequent guidance issued or interpretations made by the IRS will not be materially different from the Company’s application of the provisions of U.S. Tax Reform. The Company is continuing to evaluate all of the provisions of U.S. Tax Reform and expects to finalize its assessment during the one-year measurement period provided for by the SEC to complete the accounting for U.S. Tax Reform. During the three months ended March 31, 2018, the Company has not made any significant changes to its initial assessments made during the fourth quarter of 2017. | |
CY2018Q1 | us-gaap |
New Accounting Pronouncement Or Change In Accounting Principle Description Of Priorperiod Information Retrospectively Adjusted
NewAccountingPronouncementOrChangeInAccountingPrincipleDescriptionOfPriorperiodInformationRetrospectivelyAdjusted
|
Adoption of the revenue recognition guidance did not have a material impact on the Company’s reported earnings or cash flows, however, adoption did increase the amount and level of disclosures concerning the Company’s net sales and did result in one adjustment to the Company’s balance sheet. As a result of the Company’s impact assessment and adoption using the modified retrospective adoption approach the Company recorded an adjustment to its Condensed Consolidated Balance Sheet as of December 31, 2017 to adjust the Company’s estimate of variable consideration relating to customers’ expected rights to return product. This adjustment resulted in an increase to other current liabilities of $1.0 million, an increase to non-current deferred tax assets of $0.2 million and a decrease to retained earnings of $0.8 million. There were no other impacts recorded as a result of adopting the revenue recognition guidance. The impact of adoption of the new revenue recognition guidance was immaterial for the three months ended March 31, 2018 and the Company expects the impact to be immaterial on an ongoing basis. | |
CY2018Q1 | us-gaap |
Loss Contingency Settlement Agreement Terms
LossContingencySettlementAgreementTerms
|
The Company has restricted cash recorded in other assets related to proceeds from an inactive subsidiary of the Company which previously executed separate settlement and release agreements with two of its insurance carriers for $35.0 million. The proceeds of both settlements are restricted and can only be used to pay claims and costs of defense associated with the subsidiary’s asbestos litigation | |
CY2017Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
90593000 | USD |
CY2016Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
88818000 | USD |
CY2018Q1 | us-gaap |
Restricted Cash
RestrictedCash
|
21105000 | USD |
CY2017Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
21171000 | USD |
CY2017Q1 | us-gaap |
Restricted Cash
RestrictedCash
|
21652000 | USD |
CY2016Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
21883000 | USD |
CY2018Q1 | kwr |
Finite Lived Trademarks Formulations And Product Technology
FiniteLivedTrademarksFormulationsAndProductTechnology
|
34221000 | USD |
CY2017Q4 | kwr |
Finite Lived Trademarks Formulations And Product Technology
FiniteLivedTrademarksFormulationsAndProductTechnology
|
33025000 | USD |
CY2018Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
47235000 | USD |
CY2017Q1 | us-gaap |
Payments For Restructuring
PaymentsForRestructuring
|
148000 | USD |
CY2017Q1 | us-gaap |
Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
|
-8000 | USD |
CY2017Q1 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
530000 | USD |
CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1
|
P3Y | |
CY2018Q1 | us-gaap |
Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
|
100000 | USD |
CY2017Q1 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
|
100000 | USD |
CY2018Q1 | us-gaap |
Revenue Recognition Accounting Policy Gross And Net Revenue Disclosure
RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure
|
<div><p style='text-align:left;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:18pt;' >As part of</font><font style='font-family:Times New Roman;font-size:10pt;' > the Company’s CMS</font><font style='font-family:Times New Roman;font-size:10pt;' >, certain third-party product sales to customers are managed by the Company. Where the Company acts as a principal, revenues are recognized on a gross reporting basis at the selling price negotiated with</font><font style='font-family:Times New Roman;font-size:10pt;' > its customers. Where the Company acts as an agent, revenue is recognized on a net reporting basis at the amount of the administrative fee earned by the Company for ordering the goods.</font></p></div> | |
CY2018Q1 | us-gaap |
Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
|
<div><p style='text-align:left;margin-top:6pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:18pt;' >A contract liability is recognized when the Company receives consideration, or if it has the unconditional right to receive consideration, in advance of performance. A contract liability is the Comp</font><font style='font-family:Times New Roman;font-size:10pt;' >any’s obligation to transfer goods or services to a customer for which the Company has received consideration, or </font><font style='font-family:Times New Roman;font-size:10pt;' >a specified</font><font style='font-family:Times New Roman;font-size:10pt;' > amount of consideration is due, from the customer. The Company’s contract liabilities primarily represent deferred revenue record</font><font style='font-family:Times New Roman;font-size:10pt;' >ed for customer payments received by the Company prior to the Company satisfying the associated performance obligation. Deferred revenues are presented within other current liabilities in the Company’s Condensed Consolidated Balance Sheets.</font></p></div> | |
CY2017Q1 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
0 | USD |