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Pension and Other Postretirement Benefits - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2022
Defined Benefit Plan Disclosure [Line Items]
Pension and other postretirement benefits		$ (4,460,000)	$ (2,079,000)	$ (7,964,000)
Total contribution amount		$ 6,600,000	$ 6,100,000	7,200,000
U.S. \| Defined Benefit Plan, Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Investments percentage		28.00%
U.S. \| Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Investments percentage		72.00%
Foreign \| Defined Benefit Plan, Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Investments percentage		37.00%	35.00%
Foreign \| Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Investments percentage		48.00%	50.00%
Foreign \| Other Debt Obligations
Defined Benefit Plan Disclosure [Line Items]
Investments percentage		15.00%	14.00%
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation		$ 199,900,000	$ 217,500,000
Defined benefit plan, plan assets, liquidated assets	$ 50,000,000
Minimum expected cash contributions in next fiscal year		6,000,000.0
Pension and other postretirement benefits		2,285,000	2,535,000	(1,118,000)
Pension Benefits \| Cleveland Bakers and Teamsters Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan liabilities		0			$ 555,000,000
Multiemployer plan pension assets			348,000,000
Multiemployer plan contributions		100,000
Pension Benefits \| U.S.
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation		73,400,000	79,100,000
Minimum expected cash contributions in next fiscal year		3,300,000
Pension and other postretirement benefits		1,133,000	1,121,000	(987,000)
Pension Benefits \| Foreign
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation		126,500,000	138,400,000
Minimum expected cash contributions in next fiscal year		2,700,000
Pension and other postretirement benefits		1,152,000	1,414,000	(131,000)
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Minimum expected cash contributions in next fiscal year		200,000
Other Postretirement Benefits \| U.S.
Defined Benefit Plan Disclosure [Line Items]
Pension and other postretirement benefits		(41,000)	(75,000)	(74,000)
Supplemental Retirement Benefits Plan \| U.S.
Defined Benefit Plan Disclosure [Line Items]
Pension and other postretirement benefits		$ 600,000	$ 600,000	$ 700,000

Basis of Presentation and Significant Accounting Policies - Income taxes and uncertain tax positions (Details)	Dec. 31, 2024
Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	3 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	24 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Taxes on income before equity in net income of associated companies for the years ended December 31, 2024, 2023 and 2022 are as follows:


	2024		2023		2022
Current:
Federal	$	15,276	$	12,159	$	(708)
State	2,395		2,938		1,450
Foreign	41,662		51,930		34,735
Total	59,333		67,027		35,477
Deferred:
Federal	(4,385)		518		(2,798)
State	(24)		(163)		(713)
Foreign	(5,624)		(11,797)		(7,041)
Total	$	(10,033)	$	(11,442)	$	(10,552)
Taxes on income before equity in net income of associated companies	$	49,300	$	55,585	$	24,925

Schedule of Income before Income Tax, Domestic and Foreign

The components of income before taxes and equity of associated companies for the years ended December 31, 2024, 2023 and 2022 are as follows:


	2024		2023		2022
U.S.	$	17,167	$	14,520	$	(4,933)
Foreign	137,891		138,604		12,051
Total	$	155,058	$	153,124	$	7,118

Schedule of Deferred Tax Assets and Liabilities

Total deferred tax assets and liabilities are composed of the following as of December 31, 2024 and 2023:


	2024		2023
Pension and other postretirement benefits	$	5,472	$	6,539
Allowance for credit losses	1,895		2,627
Insurance and litigation reserves	565		534
Performance incentives	5,582		5,839
Equity-based compensation	2,891		2,980
Prepaid expense	426		541
Operating loss carryforward	24,702		22,693
Foreign tax credit and other credits	19,516		13,360
Interest	16,423		12,926
Restructuring reserves	158		403
Right-of-use lease assets	7,629		8,018
Inventory reserves	2,423		4,810
Research and development	12,608		11,125
Other	1,261		5,712
Total deferred tax assets, gross	101,551		98,107
Valuation allowance	(27,993)		(24,182)
Total deferred tax assets, net	$	73,558	$	73,925
Depreciation	9,814		10,240

Intangibles	170,309		177,320
Lease liabilities	8,575		9,105
Outside basis in equity investment	6,080		5,276
Unremitted earnings	8,392		8,204
Total deferred tax liabilities	$	203,170	$	210,145
Total net deferred tax liabilities	$	(129,612)	$	(136,220)

Schedule Of Deferred Tax Assets And Liabilities Balance Sheet Classification

The Company’s net deferred tax assets and liabilities are classified in the Consolidated Balance Sheets as of December 31, 2024 and 2023 as follows:


	2024		2023
Non-current deferred tax assets	$	9,216	$	10,737
Non-current deferred tax liabilities	138,828		146,957
Total net deferred tax liabilities	$	(129,612)	$	(136,220)

Schedule of Valuation Allowance

The following are the changes in the Company’s deferred tax asset valuation allowance for the years ended December 31, 2024, 2023 and 2022:


	2024		2023		2022

Balance at January 1,	$	24,182	$	11,730	$	17,400
Net charges to income tax expense	$	5,693	$	14,393	$	1,119
Release of valuation allowance	$	(1,882)	$	(1,941)	$	(6,789)
Balance at December 31,	$	27,993	$	24,182	$	11,730

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of income taxes at the Federal statutory rate with income taxes recorded by the Company for the years ended December 31, 2024, 2023 and 2022:


	2024		2023		2022
Income tax provision at the Federal statutory tax rate	$	32,562	$	32,156	$	1,495
Unremitted earnings	(30)		1,211		(1,839)
Tax law changes / reform	(37)		47		823
U.S. tax on foreign operations	9,625		9,014		4,864

Foreign derived intangible income	(1,336)		(1,147)		(917)

Withholding taxes	8,418		11,193		7,785
Foreign tax credits	(6,898)		(3,432)		(5,850)
Share-based compensation	2,345		1,814		1,372
Foreign tax rate differential	1,315		4,731		4,782
Research and development credit	(1,902)		(2,000)		(1,757)
Audit settlements	—		456		2,697
Uncertain tax positions	(2,372)		(598)		(6,375)
State income tax provisions, net	1,905		2,158		432
Non-deductible expenses	341		416		190
Intercompany transfer of intangible assets	2,295		(584)		(1,932)
Goodwill impairment	—		—		19,550
Provision to return and other adjustments	2,655		(930)		21
Miscellaneous items, net	414		1,080		(416)
Taxes on income before equity in net income of associated companies	$	49,300	$	55,585	$	24,925

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amounts of unrecognized tax benefits for the years ended December 31, 2024, 2023 and 2022, respectively, is as follows:


	2024		2023		2022
Unrecognized tax benefits as of January 1	$	15,659	$	16,340	$	22,464
Decrease in unrecognized tax benefits taken in prior periods	(88)		(147)		(1,174)
Increase in unrecognized tax benefits taken in current period	2,684		1,799		953
Decrease in unrecognized tax benefits due to lapse of statute of limitations	(3,559)		(2,736)		(2,378)
Decrease in unrecognized tax benefits due to audit settlements	—		—		(2,509)

(Decrease) increase due to foreign exchange rates	(747)		403		(1,016)
Unrecognized tax benefits as of December 31	$	13,949	$	15,659	$	16,340

Schedule of Income Tax Examinations

Tax years that remain subject to examination by major tax jurisdictions are shown in the table below:


Jurisdiction						Open Years
Brazil						2019-2024
China						2019-2024
Germany						2018-2024
India						2019-2024
Italy						2019-2024
Mexico						2019-2024
Netherlands						2018-2024
Spain						2018-2024
U.S. Federal and State						2020-2024
United Kingdom						2021-2024

Other Income (Expense), net (Tables)

12 Months Ended

Dec. 31, 2024

Other Income and Expenses [Abstract]

Schedule of Other (Expense) Income, net

Other income (expense), net for the years ended December 31, 2024, 2023 and 2022 are as follows:


	2024		2023		2022
Income from third party license fees	$	810	$	1,210	$	1,268
Foreign exchange losses, net	(1,783)		(14,785)		(9,399)
Gain on disposals of property, plant, equipment and other assets, net	810		1,307		168
Non-income tax refunds and other related credits (expense)	3,742		1,339		(1,613)
Pension and postretirement benefit (costs) income, non-service components	(1,827)		(2,033)		1,704
Loss on extinguishment of debt	—		—		(6,763)
Facility remediation recoveries, net	—		2,141		1,804
Business interruption insurance proceeds	1,000		—		—
Product liability claim costs, net	(2,040)		—		—
Earnout liability adjustment	400		—		—
Other non-operating income, net	242		149		224
Total other income (expense), net	$	1,354	$	(10,672)	$	(12,607)

Recently Issued Accounting Standards	12 Months Ended
Recently Issued Accounting Standards	Dec. 31, 2024
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards Recently Adopted Accounting Standards The Company adopted Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures in this Report and will adopt the interim reportable segment disclosure requirements in the first quarter of 2025. This ASU expands reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, defined as those expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included in the reported measure of segment profit or loss. The Company disclosed that the CODM, which is the Chief Executive Officer, assesses segment performance and makes decisions about allocating resources to its operating segments using segment operating earnings. Based on the Company’s assessment, the Company determined that product costs are significant segment expenses that are regularly provided to the CODM and included in segment operating earnings. The Company disclosed product costs and other operating expenses included in segment operating earnings by reportable segment. See Note 4, Business Segments, for additional information. Recently Issued Accounting Standards Not Yet Adopted The FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures in December 2023. This ASU requires public business entities to disclose additional information in specified categories with respect to the reconciliation of the effective tax rate to the statutory rate (the “rate reconciliation”) for federal, state, and foreign income taxes, requiring greater detail about individual reconciling items in the rate reconciliation to the extent the impact of those items exceeds a specified threshold. The ASU also requires public business entities to disclose income taxes paid disaggregated by federal, state, and foreign taxes. Further disaggregation is also required in jurisdictions where income taxes paid exceeds a certain threshold. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024. The Company is currently evaluating the disclosure requirements of this standard and the impact on its consolidated financial statements. The FASB issued ASU 2024-03, Income Statement- Reporting Comprehensive Income- Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses in November 2024. This ASU requires public business entities (“PBEs”) to disclose, in interim and annual reporting periods, additional information about certain expenses in the notes to the financial statements, including disclosing the amounts of purchases of inventory, employee compensation, depreciation, and intangible asset amortization in each relevant expense caption. It also requires PBEs to disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively and to disclose the total amount of selling expenses, and in the annual reporting periods, an entity’s definition of selling expenses. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, with early adoption permitted. The Company is currently evaluating the disclosure requirements of this standard and the impact on its consolidated financial statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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+ Details

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net sales	$ 1,839,686,000	$ 1,953,313,000	$ 1,943,585,000
Cost of goods sold (excluding amortization expense - See Note 15)	1,153,656,000	1,247,669,000	1,330,931,000
Gross profit	686,030,000	705,644,000	612,654,000
Selling, general and administrative expenses	484,794,000	483,561,000	464,187,000
Impairment charges	0	0	93,000,000
Restructuring and related charges, net	6,530,000	7,588,000	3,163,000
Operating income	194,706,000	214,495,000	52,304,000
Other income (expense), net	1,354,000	(10,672,000)	(12,607,000)
Interest expense, net	(41,002,000)	(50,699,000)	(32,579,000)
Income before taxes and equity in net income of associated companies	155,058,000	153,124,000	7,118,000
Taxes on income before equity in net income of associated companies	49,300,000	55,585,000	24,925,000
Income (loss) before equity in net income of associated companies	105,758,000	97,539,000	(17,807,000)
Equity in net income of associated companies	10,971,000	15,333,000	1,965,000
Net income (loss)	116,729,000	112,872,000	(15,842,000)
Less: Net income attributable to noncontrolling interest	85,000	124,000	89,000
Net income (loss) attributable to Quaker Chemical Corporation	$ 116,644,000	$ 112,748,000	$ (15,931,000)
Per share data:
Net income (loss) attributable to Quaker Chemical Corporation common shareholders – basic (in dollars per share)	$ 6.51	$ 6.27	$ (0.89)
Net income (loss) attributable to Quaker Chemical Corporation common shareholders – diluted (in dollars per share)	$ 6.51	$ 6.26	$ (0.89)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities
Net income (loss)	$ 116,729,000	$ 112,872,000	$ (15,842,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of debt issuance costs	1,413,000	1,413,000	2,942,000
Depreciation and amortization	84,119,000	81,987,000	80,467,000
Equity in undistributed earnings of associated companies, net of dividends	(2,733,000)	(11,149,000)	1,005,000
Deferred income taxes	(10,033,000)	(11,442,000)	(10,552,000)
Uncertain tax positions (non-deferred portion)	(2,372,000)	(644,000)	(6,398,000)
Deferred compensation and other, net	4,867,000	5,711,000	2,613,000
Share-based compensation	14,991,000	14,605,000	11,666,000
Loss on extinguishment of debt	0	0	5,246,000
Gain on disposal of property, plant, equipment and other assets	(810,000)	(1,307,000)	(168,000)
Impairment charges	0	0	93,000,000
Restructuring and related charges	6,530,000	7,588,000	3,163,000
Pension and other postretirement benefits	(4,460,000)	(2,079,000)	(7,964,000)
Increase (decrease) in cash from changes in current assets and current liabilities, net of acquisitions:
Accounts receivable	24,975,000	32,169,000	(59,112,000)
Inventories	(3,244,000)	49,751,000	(29,858,000)
Prepaid expenses and other current assets	(6,242,000)	(21,000)	3,705,000
Accrued restructuring	(7,595,000)	(9,786,000)	(1,532,000)
Accounts payable and accrued liabilities	(8,637,000)	5,937,000	(27,899,000)
Estimated taxes on income (loss)	(2,920,000)	3,415,000	(2,688,000)
Net cash provided by operating activities	204,578,000	279,020,000	41,794,000
Cash flows from investing activities
Investments in property, plant and equipment	(41,794,000)	(38,800,000)	(28,539,000)
Payments related to acquisitions, net of cash acquired	(39,302,000)	0	(13,115,000)
Proceeds from disposition of assets	4,676,000	11,179,000	1,463,000
Net cash used in investing activities	(76,420,000)	(27,621,000)	(40,191,000)
Cash flows from financing activities
Payments of long-term debt	(57,221,000)	(38,932,000)	(673,203,000)
Proceeds from long-term debt	0	0	750,000,000
Borrowings (payments) on revolving credit facilities, net	17,916,000	(164,769,000)	(16,281,000)
Borrowings (payments) on other debt, net	1,441,000	(506,000)	(1,629,000)
Financing-related debt issuance costs	0	0	(3,734,000)
Dividends paid	(33,170,000)	(31,650,000)	(30,103,000)
Shares purchased under share repurchase program	(49,247,000)	0	0
Other stock related activity	(2,383,000)	(2,749,000)	(378,000)
Net cash (used in) provided by financing activities	(122,664,000)	(238,606,000)	24,672,000
Effect of foreign exchange rate changes on cash	(11,141,000)	771,000	(10,488,000)
Net (decrease) increase in cash and cash equivalents	(5,647,000)	13,564,000	15,787,000
Cash and cash equivalents at the beginning of the period	194,527,000	180,963,000	165,176,000
Cash and cash equivalents at the end of the period	188,880,000	194,527,000	180,963,000
Supplemental cash flow disclosures:
Income taxes, net of refunds	60,581,000	57,410,000	35,327,000
Interest	44,536,000	54,892,000	29,074,000
Non-cash activities:
Change in accrued purchases of property, plant and equipment, net	$ 11,282,000	$ (746,000)	$ 278,000

Other Non-Current Liabilities

12 Months Ended

Dec. 31, 2024

Other Liabilities Disclosure [Abstract]

Other Non-Current Liabilities

Other non-current liabilities as of December 31, 2024 and 2023 were as follows:


	2024		2023
Uncertain tax positions, including interest and penalties (See Note 10)	$	17,257	$	19,630
Non-current income taxes payable (See Note 10)	—		4,695
Environmental reserves (See Note 25)	2,941		3,874
Deferred and other long-term compensation	2,833		2,871
Acquisition-related earnout liability (See Note 2)	—		475

Other	1,414		260
Total other non-current liabilities	$	24,445	$	31,805

Business Segments - Schedule of Segment Assets and Long-Lived Assets, Excluding Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment assets	$ 2,091,755	$ 2,201,693	$ 2,306,614
Total segment long-lived assets	379,024	366,349	358,334
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment assets	834,327	903,319	1,196,906
Total segment long-lived assets	164,450	159,015	150,294
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment assets	650,045	703,338	583,861
Total segment long-lived assets	80,668	83,488	87,279
Asia/Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment assets	607,383	595,036	525,847
Total segment long-lived assets	$ 133,906	$ 123,846	$ 120,761

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt	$ 708,267	$ 755,612
Less: debt issuance costs	(1,099)	(1,545)
Less: short-term and current portion of long-term debts	(37,554)	(23,444)
Total long-term debt	$ 669,614	$ 730,623
Revolver
Debt Instrument [Line Items]
Interest Rate	4.00%	5.13%
Total debt	$ 48,820	$ 30,904
U.S. Term Loan
Debt Instrument [Line Items]
Interest Rate	5.62%	6.71%
Total debt	$ 508,863	$ 561,250
EURO Term Loan
Debt Instrument [Line Items]
Interest Rate	4.00%	5.13%
Total debt	$ 138,767	$ 152,366
Industrial development bonds
Debt Instrument [Line Items]
Interest Rate	5.26%	5.26%
Total debt	$ 10,000	$ 10,000
Bank lines of credit and other debt obligations
Debt Instrument [Line Items]
Total debt	$ 1,817	$ 1,092

Accumulated Other Comprehensive Loss - AOCI Reclassifications (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ (124,415)	$ (138,240)	$ (63,990)
Other comprehensive income (loss) before reclassifications	(77,425)	12,623	(74,805)
Amounts reclassified from AOCI	251	83	2,746
Related tax amounts	(30)	1,119	(2,191)
Ending balance	(201,619)	(124,415)	(138,240)
Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(115,417)	(132,161)	(49,843)
Other comprehensive income (loss) before reclassifications	(77,424)	16,744	(82,318)
Amounts reclassified from AOCI		0	0
Related tax amounts	0	0	0
Ending balance	(192,841)	(115,417)	(132,161)
Defined Benefit Pension Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(10,738)	(4,595)	(13,172)
Other comprehensive income (loss) before reclassifications	250	(7,702)	10,789
Amounts reclassified from AOCI	265	(464)	479
Related tax amounts	(90)	2,023	(2,691)
Ending balance	(10,313)	(10,738)	(4,595)
Unrealized Gain (Loss) in Available-for- Sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	333	(1,484)	397
Other comprehensive income (loss) before reclassifications	(44)	1,753	(3,276)
Amounts reclassified from AOCI	(14)	547	895
Related tax amounts	12	(483)	500
Ending balance	287	333	(1,484)
Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	1,407	0	(1,372)
Other comprehensive income (loss) before reclassifications	(207)	1,828	0
Amounts reclassified from AOCI	0	0	1,372
Related tax amounts	48	(421)	0
Ending balance	$ 1,248	$ 1,407	$ 0

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References + Details

Income Taxes

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

On December 22, 2017, the U.S. government enacted comprehensive tax legislation which we refer to as U.S. Tax Reform. U.S. Tax Reform implemented a new system of taxation for non-U.S. earnings which eliminated U.S. federal income taxes on dividends from certain foreign subsidiaries and imposed a one-time transition tax on the deemed repatriation of undistributed earnings of certain foreign subsidiaries that is payable over eight years. Accordingly, the Company had initially recorded a $15.5 million transition tax liability for U.S. income taxes on undistributed earnings of non-U.S. subsidiaries. As of December 31, 2024, $11.6 million in installments have been paid with the remaining $3.9 million to be paid in 2025. The Company may also be subject to other taxes, such as withholding taxes and dividend distribution taxes, if these undistributed earnings are ultimately remitted to the U.S.

Taxes on income before equity in net income of associated companies for the years ended December 31, 2024, 2023 and 2022 are as follows:


	2024		2023		2022
Current:
Federal	$	15,276	$	12,159	$	(708)
State	2,395		2,938		1,450
Foreign	41,662		51,930		34,735
Total	59,333		67,027		35,477
Deferred:
Federal	(4,385)		518		(2,798)
State	(24)		(163)		(713)
Foreign	(5,624)		(11,797)		(7,041)
Total	$	(10,033)	$	(11,442)	$	(10,552)
Taxes on income before equity in net income of associated companies	$	49,300	$	55,585	$	24,925

The components of income before taxes and equity of associated companies for the years ended December 31, 2024, 2023 and 2022 are as follows:


	2024		2023		2022
U.S.	$	17,167	$	14,520	$	(4,933)
Foreign	137,891		138,604		12,051
Total	$	155,058	$	153,124	$	7,118

Total deferred tax assets and liabilities are composed of the following as of December 31, 2024 and 2023:


	2024		2023
Pension and other postretirement benefits	$	5,472	$	6,539
Allowance for credit losses	1,895		2,627
Insurance and litigation reserves	565		534
Performance incentives	5,582		5,839
Equity-based compensation	2,891		2,980
Prepaid expense	426		541
Operating loss carryforward	24,702		22,693
Foreign tax credit and other credits	19,516		13,360
Interest	16,423		12,926
Restructuring reserves	158		403
Right-of-use lease assets	7,629		8,018
Inventory reserves	2,423		4,810
Research and development	12,608		11,125
Other	1,261		5,712
Total deferred tax assets, gross	101,551		98,107
Valuation allowance	(27,993)		(24,182)
Total deferred tax assets, net	$	73,558	$	73,925
Depreciation	9,814		10,240

Intangibles	170,309		177,320
Lease liabilities	8,575		9,105
Outside basis in equity investment	6,080		5,276
Unremitted earnings	8,392		8,204
Total deferred tax liabilities	$	203,170	$	210,145
Total net deferred tax liabilities	$	(129,612)	$	(136,220)

The Company’s net deferred tax assets and liabilities are classified in the Consolidated Balance Sheets as of December 31, 2024 and 2023 as follows:


	2024		2023
Non-current deferred tax assets	$	9,216	$	10,737
Non-current deferred tax liabilities	138,828		146,957
Total net deferred tax liabilities	$	(129,612)	$	(136,220)

As of December 31, 2024, the Company has a deferred tax liability of $8.4 million on certain undistributed foreign earnings, which primarily represents the Company’s estimate of the non-U.S. income taxes the Company will incur to ultimately remit certain earnings to the U.S. Otherwise, it is the Company’s current intention to reinvest its additional undistributed earnings of certain non-U.S. subsidiaries to support working capital needs and certain other growth initiatives outside of the U.S. The amount of such undistributed earnings at December 31, 2024 was approximately $359.8 million. Any tax liability which might result from ultimate remittance of these earnings is expected to be substantially offset by foreign tax credits (subject to certain limitations); however, certain withholding taxes could apply. It is currently impractical to estimate any such incremental tax expense.

The Company has $6.1 million of deferred tax assets related to state net operating losses. Management analyzed the expected impact of the reversal of existing taxable temporary differences, considered expiration dates, analyzed current state tax laws, and determined that $1.4 million of state net operating loss carryforwards is expected to be realized as a future benefit. Accordingly, a partial valuation allowance of $4.7 million has been established. These state net operating losses are subject to various carryforward periods of 5 years to 20 years or an indefinite carryforward period. An additional $0.6 million of valuation allowance was established for other net state deferred tax assets.

The Company has $18.5 million of deferred tax assets related to foreign net operating loss carryforwards. A partial valuation allowance of $2.8 million has been established against this amount resulting in a net $15.7 million expected future benefit. These foreign net operating losses are subject to various carryforward periods with the majority having an indefinite carryforward period. An additional partial valuation allowance of $2.8 million has been established against certain other foreign deferred tax assets.

Foreign tax credits may be carried forward for 10 years. Management analyzed the expected impact of the utilization of foreign tax credits based on certain assumptions such as projected U.S. taxable income, overall domestic loss recapture, and applicable limitations if any. The Company had a foreign tax credit carry forward of $19.2 million and $13.0 million as of December 31, 2024 and 2023, respectively, with a $17.2 million and $12.5 million valuation allowance as of December 31, 2024 and 2023, respectively, reflecting the amount of credits that are not expected to be utilized before expiration.

The following are the changes in the Company’s deferred tax asset valuation allowance for the years ended December 31, 2024, 2023 and 2022:


	2024		2023		2022

Balance at January 1,	$	24,182	$	11,730	$	17,400
Net charges to income tax expense	$	5,693	$	14,393	$	1,119
Release of valuation allowance	$	(1,882)	$	(1,941)	$	(6,789)
Balance at December 31,	$	27,993	$	24,182	$	11,730

The following is a reconciliation of income taxes at the Federal statutory rate with income taxes recorded by the Company for the years ended December 31, 2024, 2023 and 2022:


	2024		2023		2022
Income tax provision at the Federal statutory tax rate	$	32,562	$	32,156	$	1,495
Unremitted earnings	(30)		1,211		(1,839)
Tax law changes / reform	(37)		47		823
U.S. tax on foreign operations	9,625		9,014		4,864

Foreign derived intangible income	(1,336)		(1,147)		(917)

Withholding taxes	8,418		11,193		7,785
Foreign tax credits	(6,898)		(3,432)		(5,850)
Share-based compensation	2,345		1,814		1,372
Foreign tax rate differential	1,315		4,731		4,782
Research and development credit	(1,902)		(2,000)		(1,757)
Audit settlements	—		456		2,697
Uncertain tax positions	(2,372)		(598)		(6,375)
State income tax provisions, net	1,905		2,158		432
Non-deductible expenses	341		416		190
Intercompany transfer of intangible assets	2,295		(584)		(1,932)
Goodwill impairment	—		—		19,550
Provision to return and other adjustments	2,655		(930)		21
Miscellaneous items, net	414		1,080		(416)
Taxes on income before equity in net income of associated companies	$	49,300	$	55,585	$	24,925

For the years ended December 31, 2024 and 2023, the Company’s cumulative liability for gross unrecognized tax benefits were $13.9 million and $15.7 million, respectively. For the years ended December 31, 2024 and 2023, the Company had accrued approximately $0.8 million and $1.1 million, respectively, for cumulative penalties and $2.6 million and $2.9 million, respectively, for cumulative interest.

The Company continues to recognize interest and penalties associated with uncertain tax positions as a component of tax expense on income before equity in net income of associated companies in its Consolidated Statements of Operations. The Company recognized a benefit of $0.2 million for penalties and a benefit of $0.2 million for interest (net of expirations and settlements) in its Consolidated Statements of Operations for the year ended December 31, 2024, a benefit of $0.4 million for penalties and an expense of $0.1 million for interest (net of expirations and settlements) in its Consolidated Statement of Operations for the year ended December 31, 2023, and a benefit of $1.7 million for penalties and a benefit of $0.3 million for interest (net of expirations and settlements) in its Consolidated Statement of Operations for the year ended December 31, 2022.

The Company estimates that during the year ending December 31, 2024, it will reduce its cumulative liability for gross unrecognized tax benefits by approximately $3.6 million due to the expiration of the statute of limitations with regard to certain tax positions. This estimated reduction in the cumulative liability for unrecognized tax benefits does not consider any increase in liability for unrecognized tax benefits with regard to existing tax positions or any increase in cumulative liability for unrecognized tax benefits with regard to new tax positions for the year ending December 31, 2024.

A reconciliation of the beginning and ending amounts of unrecognized tax benefits for the years ended December 31, 2024, 2023 and 2022, respectively, is as follows:


	2024		2023		2022
Unrecognized tax benefits as of January 1	$	15,659	$	16,340	$	22,464
Decrease in unrecognized tax benefits taken in prior periods	(88)		(147)		(1,174)
Increase in unrecognized tax benefits taken in current period	2,684		1,799		953
Decrease in unrecognized tax benefits due to lapse of statute of limitations	(3,559)		(2,736)		(2,378)
Decrease in unrecognized tax benefits due to audit settlements	—		—		(2,509)

(Decrease) increase due to foreign exchange rates	(747)		403		(1,016)
Unrecognized tax benefits as of December 31	$	13,949	$	15,659	$	16,340

The amount of net unrecognized tax benefits above that, if recognized, would impact the Company’s tax expense and effective tax rate is $8.3 million, $10.1 million and $10.2 million for the years ended December 31, 2024, 2023 and 2022, respectively.

The Company and its subsidiaries are subject to U.S. Federal income tax, as well as the income tax of various state and foreign tax jurisdictions. Tax years that remain subject to examination by major tax jurisdictions are shown in the table below:


Jurisdiction						Open Years
Brazil						2019-2024
China						2019-2024
Germany						2018-2024
India						2019-2024
Italy						2019-2024
Mexico						2019-2024
Netherlands						2018-2024
Spain						2018-2024
U.S. Federal and State						2020-2024
United Kingdom						2021-2024

Positions challenged by the taxing authorities may be settled or applied by the Company. As a result, income tax uncertainties are recognized in the Company’s financial statements in accordance with the accounting for income taxes, when applicable.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Goodwill beginning balance	$ 512,518	$ 515,008
Goodwill from acquisitions	21,959
Currency translation and other adjustments	(15,583)	(2,490)
Goodwill ending balance	518,894	512,518	$ 515,008
Goodwill, gross	611,498	609,571	608,008
Accumulated impairment losses	(92,604)	(97,053)	(93,000)
Goodwill, net	518,894	512,518	515,008
Previously Reported
Goodwill [Roll Forward]
Goodwill beginning balance		515,008
Goodwill ending balance			515,008
Goodwill, net			515,008
Revision of Prior Period, Reclassification, Adjustment
Goodwill [Roll Forward]
Reallocation of reporting units			0
Operating Segments \| Americas
Goodwill [Roll Forward]
Goodwill beginning balance	283,103	279,596
Goodwill from acquisitions	0
Currency translation and other adjustments	(6,228)	3,507
Goodwill ending balance	276,875	283,103	279,596
Goodwill, net	276,875	283,103	279,596
Operating Segments \| EMEA
Goodwill [Roll Forward]
Goodwill beginning balance	65,940	66,278
Goodwill from acquisitions	16,448
Currency translation and other adjustments	(1,984)	(338)
Goodwill ending balance	80,404	65,940	66,278
Goodwill, net	80,404	65,940	66,278
Operating Segments \| Asia/Pacific
Goodwill [Roll Forward]
Goodwill beginning balance	163,475	169,134
Goodwill from acquisitions	5,511
Currency translation and other adjustments	(7,371)	(5,659)
Goodwill ending balance	161,615	163,475	169,134
Goodwill, net	161,615	163,475	169,134
Operating Segments \| Previously Reported \| Americas
Goodwill [Roll Forward]
Goodwill beginning balance		215,899
Goodwill ending balance			215,899
Goodwill, net			215,899
Operating Segments \| Previously Reported \| EMEA
Goodwill [Roll Forward]
Goodwill beginning balance		34,567
Goodwill ending balance			34,567
Goodwill, net			34,567
Operating Segments \| Previously Reported \| Asia/Pacific
Goodwill [Roll Forward]
Goodwill beginning balance		150,375
Goodwill ending balance			150,375
Goodwill, net			150,375
Operating Segments \| Revision of Prior Period, Reclassification, Adjustment \| Americas
Goodwill [Roll Forward]
Reallocation of reporting units			63,697
Operating Segments \| Revision of Prior Period, Reclassification, Adjustment \| EMEA
Goodwill [Roll Forward]
Reallocation of reporting units			31,711
Operating Segments \| Revision of Prior Period, Reclassification, Adjustment \| Asia/Pacific
Goodwill [Roll Forward]
Reallocation of reporting units			18,759
Global Specialty Businesses \| Operating Segments
Goodwill [Roll Forward]
Goodwill beginning balance	0	0
Goodwill from acquisitions	0
Currency translation and other adjustments	0	0
Goodwill ending balance	0	0	0
Goodwill, net	$ 0	0	0
Global Specialty Businesses \| Operating Segments \| Previously Reported
Goodwill [Roll Forward]
Goodwill beginning balance		$ 114,167
Goodwill ending balance			114,167
Goodwill, net			114,167
Global Specialty Businesses \| Operating Segments \| Revision of Prior Period, Reclassification, Adjustment
Goodwill [Roll Forward]
Reallocation of reporting units			$ (114,167)

Pension and Other Post Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2024

Retirement Benefits [Abstract]

Schedule of funded status of Company's plans' reconciled with amounts reported in the Consolidated Balance Sheets

The following table shows the funded status of the Company’s plans’ reconciled with amounts reported in the Consolidated Balance Sheets as of December 31, 2024 and 2023:


	Pension Benefits												Other Post- Retirement Benefits
	2024						2023						2024		2023
	Foreign		U.S.		Total		Foreign		U.S.		Total		U.S.		U.S.
Change in benefit obligation
Gross benefit obligation at beginning of year	$	144,779	$	79,063	$	223,842	$	130,554	$	79,086	$	209,640	$	1,343	$	1,606
Service cost	417		—		417		399		28		427		—		—
Interest cost	5,817		3,672		9,489		6,083		3,849		9,932		61		69

Effect of plan amendments	—		—		—		—		(15)		(15)		—		—
Curtailment (gain) loss	(19)		—		(19)		(213)		—		(213)		—		—

Benefits paid	(6,377)		(6,519)		(12,896)		(6,086)		(6,031)		(12,117)		(156)		(182)
Plan expenses and premiums paid	(36)		—		(36)		—		—		—		—		—

Actuarial (gain) loss	(6,589)		(2,845)		(9,434)		7,809		2,146		9,955		(61)		(150)
Translation differences and other	(6,198)		(1)		(6,199)		6,233		—		6,233		26		—
Gross benefit obligation at end of year	$	131,794	$	73,370	$	205,164	$	144,779	$	79,063	$	223,842	$	1,213	$	1,343


	Pension Benefits												Other Post- Retirement Benefits
	2024						2023						2024		2023
	Foreign		U.S.		Total		Foreign		U.S.		Total		U.S.		U.S.
Change in plan assets
Fair value of plan assets at beginning of year	$	135,387	$	60,967	$	196,354	$	129,944	$	59,591	$	189,535	$	—	$	—
Actual return on plan assets	(3,003)		1,349		(1,654)		4,474		4,640		9,114		—		—
Employer contributions	2,043		3,751		5,794		1,566		2,767		4,333		156		182


Benefits paid	(6,377)		(6,519)		(12,896)		(6,086)		(6,031)		(12,117)		(156)		(182)
Plan expenses and premiums paid	(36)		—		(36)		—		—		—		—		—
Translation differences	(5,051)		—		(5,051)		5,489		—		5,489		—		—
Fair value of plan assets at end of year	$	122,963	$	59,548	$	182,511	$	135,387	$	60,967	$	196,354	$	—	$	—
Net benefit obligation recognized	$	(8,831)	$	(13,822)	$	(22,653)	$	(9,392)	$	(18,096)	$	(27,488)	$	(1,213)	$	(1,343)

Amounts recognized in the balance sheet consist of:
Non-current assets	$	2,245	$	—	$	2,245	$	2,834	$	—	$	2,834	$	—	$	—
Current liabilities	(400)		(1,758)		(2,158)		(273)		(1,757)		(2,030)		(170)		(178)
Non-current liabilities	(10,676)		(12,064)		(22,740)		(11,953)		(16,339)		(28,292)		(1,043)		(1,165)
Net benefit obligation recognized	$	(8,831)	$	(13,822)	$	(22,653)	$	(9,392)	$	(18,096)	$	(27,488)	$	(1,213)	$	(1,343)
Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss:
Prior service cost	(265)		—		(265)		(353)		—		(353)		—		—
Accumulated (loss) gain	(19,775)		3,905		(15,870)		(19,117)		2,248		(16,869)		1,199		1,241

AOCI	(20,040)		3,905		(16,135)		(19,470)		2,248		(17,222)		1,199		1,241
Cumulative employer contributions in excess of or (below) net periodic benefit cost	11,209		(17,727)		(6,518)		10,078		(20,344)		(10,266)		(2,412)		(2,584)
Net benefit obligation recognized	$	(8,831)	$	(13,822)	$	(22,653)	$	(9,392)	$	(18,096)	$	(27,488)	$	(1,213)	$	(1,343)

Schedule of Information for pension plans with an accumulated benefit obligation in excess of plan assets

Information for pension plans with an accumulated benefit obligation in excess of plan assets:


	2024			2023
	Foreign	U.S.	Total	Foreign	U.S.	Total
Accumulated benefit obligation	72,836	73,370	146,206	75,402	79,063	154,465
Fair value of plan assets	66,838	59,548	126,386	69,419	60,967	130,386

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets

Information for pension plans with a projected benefit obligation in excess of plan assets:


	2024						2023
	Foreign		U.S.		Total		Foreign		U.S.		Total
Projected benefit obligation	$	77,914	$	73,370	$	151,284	$	93,733	$	79,063	$	172,796
Fair value of plan assets	66,838		59,548		126,386		81,507		60,967		142,474

Schedule of components of net periodic benefit costs - pension plans

Components of net periodic benefit costs – pension plans:


	2024						2023
	Foreign		U.S.		Total		Foreign		U.S.		Total
Service cost	$	417	$	—	$	417	$	399	$	28	$	427
Interest cost	5,817		3,672		9,489		6,083		3,849		9,932
Expected return on plan assets	(5,571)		(2,562)		(8,133)		(5,271)		(2,799)		(8,070)

Curtailment (gain) loss	(19)		—		(19)		(213)		15		(198)
Actuarial loss amortization	481		24		505		388		22		410
Prior service cost amortization	27		(1)		26		28		6		34
Net periodic benefit cost	$	1,152	$	1,133	$	2,285	$	1,414	$	1,121	$	2,535


	2022
	Foreign		U.S.		Total
Service cost	$	465	$	47	$	512
Interest cost	3,079		2,145		5,224
Expected return on plan assets	(4,472)		(3,509)		(7,981)
Settlement gain	(71)		—		(71)
Curtailment charge	207		—		207
Actuarial loss amortization	658		323		981
Prior service credit amortization	3		7		10
Net periodic benefit income	$	(131)	$	(987)	$	(1,118)

Components of net periodic benefit costs – other postretirement plan:


	2024		2023		2022
Service cost	$	—	$	—	$	—
Interest cost	61		69		37
Actuarial gain amortization	(102)		(128)		(79)
Prior service credit amortization	—		(16)		(32)
Net periodic benefit costs	$	(41)	$	(75)	$	(74)

Schedule of other changes recognized in other comprehensive income - pension plans

Other changes recognized in other comprehensive income – pension plans:


	2024						2023
	Foreign		U.S.		Total		Foreign		U.S.		Total
Net loss (gain) arising during the period	$	1,985	$	(1,631)	$	354	$	8,605	$	398	$	9,003


Settlement loss	—		(24)		(24)		—		(23)		(23)
Prior service cost	—		—		—		—		(15)		(15)
Actuarial loss	(481)		—		(481)		(388)		(92)		(480)
Curtailment recognition	(27)		—		(27)		(28)		—		(28)
Effect of exchange rates on amounts included in AOCI	(908)		—		(908)		560		—		560
Total recognized in other comprehensive loss (income)	569		(1,655)		(1,086)		8,749		268		9,017
Total recognized in net periodic benefit cost and other comprehensive loss (income)	$	1,721	$	(521)	$	1,200	$	10,163	$	1,389	$	11,552


	2022
	Foreign		U.S.		Total
Net gain arising during period	$	(7,008)	$	(3,555)	$	(10,563)
Settlement loss	—		(323)		(323)
Prior service credit (cost)	303		(7)		296
Actuarial (loss) gain	(587)		1,247		660
Curtailment recognition	(3)		—		(3)
Effect of exchange rates on amounts included in AOCI	(1,169)		—		(1,169)
Total recognized in other comprehensive income	(8,464)		(2,638)		(11,102)
Total recognized in net periodic benefit cost and other comprehensive income	$	(8,595)	$	(3,625)	$	(12,220)

Other changes recognized in other comprehensive income – other postretirement benefit plans:


	2024		2023		2022
Net gain arising during period	$	(61)	$	(150)	$	(263)
Recognition of amortizations in net periodic benefit cost	—		—		(2)
Prior service credit	—		16		32
Actuarial gain amortization	102		127		79
Total recognized in other comprehensive loss (income)	41		(7)		(154)
Total recognized in net periodic benefit cost and other comprehensive loss (income)	$	—	$	(82)	$	(228)

Schedule of Weighted-average assumptions used to determine benefit obligations

Weighted-average assumptions used to determine benefit obligations as of December 31, 2024 and 2023:


	Pension Benefits		Other Postretirement Benefits
	2024	2023	2024	2023
U.S. Plans
Discount rate	5.49%	4.94%	5.34%	4.87%
Rate of compensation increase	N/A	N/A	N/A	N/A

Foreign Plans
Discount rate	4.64%	4.35%	N/A	N/A
Rate of compensation increase	3.33%	3.27%	N/A	N/A

Weighted-average assumptions used to determine net periodic benefit costs for the years ended December 31, 2024, 2023 and 2022:


	Pension Benefits						Other Postretirement Benefits
	2024		2023		2022		2024		2023		2022
U.S. Plans
Discount rate	4.94	%	5.21	%	2.67	%	4.87	%	5.15	%	2.45	%
Expected long-term return on plan assets	5.50	%	5.50	%	5.75	%	N/A		N/A		N/A
Rate of compensation increase	N/A		N/A		N/A		N/A		N/A		N/A

Foreign Plans
Discount rate	4.33	%	4.77	%	3.97	%	N/A		N/A		N/A
Expected long-term return on plan assets	4.20	%	4.03	%	2.26	%	N/A		N/A		N/A
Rate of compensation increase	3.26	%	3.38	%	3.21	%	N/A		N/A		N/A

Schedule of Assumed health care cost trend rates

Assumed health care cost trend rates as of December 31, 2024, 2023 and 2022:


	2024		2023		2022
Health care cost trend rate for next year	7.05	%	6.87	%	5.60	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.00	%	4.00	%	4.00	%
Year that the rate reaches the ultimate trend rate	2049		2048		2047

Schedule of company's pension plan target asset allocation and pension plan investments measured at fair value on a recurring basis

The Company’s pension plan target asset allocation and the weighted-average asset allocations as of December 31, 2024 and 2023 by asset category were as follows:


Asset Category	Target		2024		2023
U.S. Plans
Equity securities	30	%	27	%	23	%
Debt securities	70	%	71	%	70	%
Other	—	%	2	%	7	%
Total	100	%	100	%	100	%

Foreign Plans
Equity securities	17	%	18	%	15	%
Debt securities	65	%	62	%	63	%
Other	18	%	20	%	22	%
Total	100	%	100	%	100	%

As of December 31, 2024 and 2023, the U.S. and foreign plans’ investments measured at fair value on a recurring basis were as follows:


			Fair Value Measurements at December 31, 2024
	Total Fair Value		Using Fair Value Hierarchy
U.S. Pension Assets			Level 1		Level 2		Level 3
Pooled separate accounts	$	58,454	$	—	$	58,454	$	—
Real estate	1,094		—		—		1,094
Subtotal U.S. pension plan assets in fair value hierarchy	$	59,548	$	—	$	58,454	$	1,094
Total U.S. pension plan assets	$	59,548

Foreign Pension Assets
Cash and cash equivalents	$	1,014	$	1,014	$	—	$	—
Insurance contract	107,797		—		—		107,797
Diversified equity securities - registered investment companies	2,045		—		2,045		—
Fixed income – foreign registered investment companies	8,355		—		8,355		—
Real estate	1,717		—		—		1,717
Subtotal foreign pension assets in fair value hierarchy	$	120,928	$	1,014	$	10,400	$	109,514
Commingled funds measured at NAV	2,035
Total foreign pension assets	$	122,963

Total pension assets in fair value hierarchy	$	180,476	$	1,014	$	68,854	$	110,608
Total pension assets measured at NAV	2,035
Total pension assets	$	182,511


			Fair Value Measurements at December 31, 2023
	Total Fair Value		Using Fair Value Hierarchy
U.S. Pension Assets			Level 1		Level 2		Level 3
Pooled separate accounts	$	56,820	$	—	$	56,820	$	—
Real estate	4,147		—		—		4,147
Subtotal U.S. pension plan assets in fair value hierarchy	$	60,967	$	—	$	56,820	$	4,147
Total U.S. pension plan assets	$	60,967

Foreign Pension Assets
Cash and cash equivalents	$	1,582	$	1,582	$	—	$	—
Insurance contract	118,393		—		—		118,393
Diversified equity securities - registered investment companies	1,892		—		1,892		—
Fixed income – foreign registered investment companies	9,676		—		9,676		—

Real estate	1,771		—		—		1,771

Subtotal foreign pension assets in fair value hierarchy	$	133,314	$	1,582	$	11,568	$	120,164
Commingled funds measured at NAV	2,073
Total foreign pension assets	$	135,387

Total pension assets in fair value hierarchy	$	194,281	$	1,582	$	68,388	$	124,311
Total pension assets measured at NAV	2,073
Total pension assets	$	196,354

Schedule of changes in the fair value of the plans' Level 3 investments

Changes in the fair value of the plans’ Level 3 investments during the years ended December 31, 2024 and 2023 were as follows:


	Insurance Contract		Real Estate		Total
Balance as of December 31, 2022	$	59,963	$	8,902	$	68,865
Purchases (Sales)	47,640		(303)		47,337

Unrealized gains (losses)	7,621		(2,867)		4,754
Currency translation adjustment	3,169		186		3,355
Balance as of December 31, 2023	118,393		5,918		124,311
Sales	(1,310)		(2,952)		(4,262)
Unrealized losses	(4,620)		(128)		(4,748)
Currency translation adjustment	(4,666)		(27)		(4,693)
Balance as of December 31, 2024	$	107,797	$	2,811	$	110,608

Schedule of Expected Benefit Payments

Excluding any impact related to the PPA noted above, the following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:


	Pension Benefits						Other Post- Retirement Benefits
	Foreign		U.S.		Total
2025	$	6,354	$	7,958	$	14,312	$	170
2026	7,099		6,930		14,029		161
2027	6,800		6,247		13,047		140
2028	6,945		6,173		13,118		130
2029	8,453		6,070		14,523		120
2030 to 2034	43,345		28,280		71,625		469

Income Taxes - Components of Expense and Earnings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ 15,276	$ 12,159	$ (708)
State	2,395	2,938	1,450
Foreign	41,662	51,930	34,735
Total current income tax expense	59,333	67,027	35,477
Deferred:
Federal	(4,385)	518	(2,798)
State	(24)	(163)	(713)
Foreign	(5,624)	(11,797)	(7,041)
Total deferred income tax expense	(10,033)	(11,442)	(10,552)
Taxes on income before equity in net income of associated companies	49,300	55,585	24,925
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest [Abstract]
U.S.	17,167	14,520	(4,933)
Foreign	137,891	138,604	12,051
Income before taxes and equity in net income of associated companies	$ 155,058	$ 153,124	$ 7,118

Other Non-Current Assets - Schedule of Other Assets, Noncurrent (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Uncertain tax positions (See Note 10)	$ 5,334	$ 5,307
Pension assets (See Note 20)	2,245	3,879
Debt issuance costs (See Note 19)	2,374	3,340
Interest rate swap (See Note 24)	1,621	1,828
Long-term note receivable	925	1,014
Trust investment	1,566	601
Supplemental retirement income program (See Notes 20 and 23)	297	286
Other	2,593	2,085
Total other non-current assets	17,360	18,770
Houghton
Business Acquisition [Line Items]
Indemnification assets (See Notes 10 and 21)	$ 405	$ 430

Restructuring and Related Activities - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) position	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Restructuring and Related Activities [Abstract]
Number of positions eliminated \| position	200
Gain (loss) on disposition of other assets	$ 0.4	$ 1.4	$ 0.2
Real estate held-for-sale	$ 0.7

Pension and Other Postretirement Benefits

12 Months Ended

Dec. 31, 2024

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefits

The following table shows the funded status of the Company’s plans’ reconciled with amounts reported in the Consolidated Balance Sheets as of December 31, 2024 and 2023:


	Pension Benefits												Other Post- Retirement Benefits
	2024						2023						2024		2023
	Foreign		U.S.		Total		Foreign		U.S.		Total		U.S.		U.S.
Change in benefit obligation
Gross benefit obligation at beginning of year	$	144,779	$	79,063	$	223,842	$	130,554	$	79,086	$	209,640	$	1,343	$	1,606
Service cost	417		—		417		399		28		427		—		—
Interest cost	5,817		3,672		9,489		6,083		3,849		9,932		61		69

Effect of plan amendments	—		—		—		—		(15)		(15)		—		—
Curtailment (gain) loss	(19)		—		(19)		(213)		—		(213)		—		—

Benefits paid	(6,377)		(6,519)		(12,896)		(6,086)		(6,031)		(12,117)		(156)		(182)
Plan expenses and premiums paid	(36)		—		(36)		—		—		—		—		—

Actuarial (gain) loss	(6,589)		(2,845)		(9,434)		7,809		2,146		9,955		(61)		(150)
Translation differences and other	(6,198)		(1)		(6,199)		6,233		—		6,233		26		—
Gross benefit obligation at end of year	$	131,794	$	73,370	$	205,164	$	144,779	$	79,063	$	223,842	$	1,213	$	1,343


	Pension Benefits												Other Post- Retirement Benefits
	2024						2023						2024		2023
	Foreign		U.S.		Total		Foreign		U.S.		Total		U.S.		U.S.
Change in plan assets
Fair value of plan assets at beginning of year	$	135,387	$	60,967	$	196,354	$	129,944	$	59,591	$	189,535	$	—	$	—
Actual return on plan assets	(3,003)		1,349		(1,654)		4,474		4,640		9,114		—		—
Employer contributions	2,043		3,751		5,794		1,566		2,767		4,333		156		182


Benefits paid	(6,377)		(6,519)		(12,896)		(6,086)		(6,031)		(12,117)		(156)		(182)
Plan expenses and premiums paid	(36)		—		(36)		—		—		—		—		—
Translation differences	(5,051)		—		(5,051)		5,489		—		5,489		—		—
Fair value of plan assets at end of year	$	122,963	$	59,548	$	182,511	$	135,387	$	60,967	$	196,354	$	—	$	—
Net benefit obligation recognized	$	(8,831)	$	(13,822)	$	(22,653)	$	(9,392)	$	(18,096)	$	(27,488)	$	(1,213)	$	(1,343)

Amounts recognized in the balance sheet consist of:
Non-current assets	$	2,245	$	—	$	2,245	$	2,834	$	—	$	2,834	$	—	$	—
Current liabilities	(400)		(1,758)		(2,158)		(273)		(1,757)		(2,030)		(170)		(178)
Non-current liabilities	(10,676)		(12,064)		(22,740)		(11,953)		(16,339)		(28,292)		(1,043)		(1,165)
Net benefit obligation recognized	$	(8,831)	$	(13,822)	$	(22,653)	$	(9,392)	$	(18,096)	$	(27,488)	$	(1,213)	$	(1,343)
Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss:
Prior service cost	(265)		—		(265)		(353)		—		(353)		—		—
Accumulated (loss) gain	(19,775)		3,905		(15,870)		(19,117)		2,248		(16,869)		1,199		1,241

AOCI	(20,040)		3,905		(16,135)		(19,470)		2,248		(17,222)		1,199		1,241
Cumulative employer contributions in excess of or (below) net periodic benefit cost	11,209		(17,727)		(6,518)		10,078		(20,344)		(10,266)		(2,412)		(2,584)
Net benefit obligation recognized	$	(8,831)	$	(13,822)	$	(22,653)	$	(9,392)	$	(18,096)	$	(27,488)	$	(1,213)	$	(1,343)

The accumulated benefit obligation for all defined benefit pension plans was $199.9 million ($73.4 million U.S. and $126.5 million Foreign) and $217.5 million ($79.1 million U.S. and $138.4 million Foreign) as of December 31, 2024 and 2023, respectively.

Information for pension plans with an accumulated benefit obligation in excess of plan assets:


	2024			2023
	Foreign	U.S.	Total	Foreign	U.S.	Total
Accumulated benefit obligation	72,836	73,370	146,206	75,402	79,063	154,465
Fair value of plan assets	66,838	59,548	126,386	69,419	60,967	130,386

Information for pension plans with a projected benefit obligation in excess of plan assets:


	2024						2023
	Foreign		U.S.		Total		Foreign		U.S.		Total
Projected benefit obligation	$	77,914	$	73,370	$	151,284	$	93,733	$	79,063	$	172,796
Fair value of plan assets	66,838		59,548		126,386		81,507		60,967		142,474

Components of net periodic benefit costs – pension plans:


	2024						2023
	Foreign		U.S.		Total		Foreign		U.S.		Total
Service cost	$	417	$	—	$	417	$	399	$	28	$	427
Interest cost	5,817		3,672		9,489		6,083		3,849		9,932
Expected return on plan assets	(5,571)		(2,562)		(8,133)		(5,271)		(2,799)		(8,070)

Curtailment (gain) loss	(19)		—		(19)		(213)		15		(198)
Actuarial loss amortization	481		24		505		388		22		410
Prior service cost amortization	27		(1)		26		28		6		34
Net periodic benefit cost	$	1,152	$	1,133	$	2,285	$	1,414	$	1,121	$	2,535


	2022
	Foreign		U.S.		Total
Service cost	$	465	$	47	$	512
Interest cost	3,079		2,145		5,224
Expected return on plan assets	(4,472)		(3,509)		(7,981)
Settlement gain	(71)		—		(71)
Curtailment charge	207		—		207
Actuarial loss amortization	658		323		981
Prior service credit amortization	3		7		10
Net periodic benefit income	$	(131)	$	(987)	$	(1,118)

Other changes recognized in other comprehensive income – pension plans:


	2024						2023
	Foreign		U.S.		Total		Foreign		U.S.		Total
Net loss (gain) arising during the period	$	1,985	$	(1,631)	$	354	$	8,605	$	398	$	9,003


Settlement loss	—		(24)		(24)		—		(23)		(23)
Prior service cost	—		—		—		—		(15)		(15)
Actuarial loss	(481)		—		(481)		(388)		(92)		(480)
Curtailment recognition	(27)		—		(27)		(28)		—		(28)
Effect of exchange rates on amounts included in AOCI	(908)		—		(908)		560		—		560
Total recognized in other comprehensive loss (income)	569		(1,655)		(1,086)		8,749		268		9,017
Total recognized in net periodic benefit cost and other comprehensive loss (income)	$	1,721	$	(521)	$	1,200	$	10,163	$	1,389	$	11,552


	2022
	Foreign		U.S.		Total
Net gain arising during period	$	(7,008)	$	(3,555)	$	(10,563)
Settlement loss	—		(323)		(323)
Prior service credit (cost)	303		(7)		296
Actuarial (loss) gain	(587)		1,247		660
Curtailment recognition	(3)		—		(3)
Effect of exchange rates on amounts included in AOCI	(1,169)		—		(1,169)
Total recognized in other comprehensive income	(8,464)		(2,638)		(11,102)
Total recognized in net periodic benefit cost and other comprehensive income	$	(8,595)	$	(3,625)	$	(12,220)

Components of net periodic benefit costs – other postretirement plan:


	2024		2023		2022
Service cost	$	—	$	—	$	—
Interest cost	61		69		37
Actuarial gain amortization	(102)		(128)		(79)
Prior service credit amortization	—		(16)		(32)
Net periodic benefit costs	$	(41)	$	(75)	$	(74)

Other changes recognized in other comprehensive income – other postretirement benefit plans:


	2024		2023		2022
Net gain arising during period	$	(61)	$	(150)	$	(263)
Recognition of amortizations in net periodic benefit cost	—		—		(2)
Prior service credit	—		16		32
Actuarial gain amortization	102		127		79
Total recognized in other comprehensive loss (income)	41		(7)		(154)
Total recognized in net periodic benefit cost and other comprehensive loss (income)	$	—	$	(82)	$	(228)

Weighted-average assumptions used to determine benefit obligations as of December 31, 2024 and 2023:


	Pension Benefits		Other Postretirement Benefits
	2024	2023	2024	2023
U.S. Plans
Discount rate	5.49%	4.94%	5.34%	4.87%
Rate of compensation increase	N/A	N/A	N/A	N/A

Foreign Plans
Discount rate	4.64%	4.35%	N/A	N/A
Rate of compensation increase	3.33%	3.27%	N/A	N/A

Weighted-average assumptions used to determine net periodic benefit costs for the years ended December 31, 2024, 2023 and 2022:


	Pension Benefits						Other Postretirement Benefits
	2024		2023		2022		2024		2023		2022
U.S. Plans
Discount rate	4.94	%	5.21	%	2.67	%	4.87	%	5.15	%	2.45	%
Expected long-term return on plan assets	5.50	%	5.50	%	5.75	%	N/A		N/A		N/A
Rate of compensation increase	N/A		N/A		N/A		N/A		N/A		N/A

Foreign Plans
Discount rate	4.33	%	4.77	%	3.97	%	N/A		N/A		N/A
Expected long-term return on plan assets	4.20	%	4.03	%	2.26	%	N/A		N/A		N/A
Rate of compensation increase	3.26	%	3.38	%	3.21	%	N/A		N/A		N/A

The long-term rates of return on assets were selected from within the reasonable range of rates determined by (a) historical real returns for the asset classes covered by the investment policy and (b) projections of inflation over the long-term period during which benefits are payable to plan participants. See Note 1, Basis of Presentation and Significant Accounting Policies, for additional information.

Assumed health care cost trend rates as of December 31, 2024, 2023 and 2022:


	2024		2023		2022
Health care cost trend rate for next year	7.05	%	6.87	%	5.60	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.00	%	4.00	%	4.00	%
Year that the rate reaches the ultimate trend rate	2049		2048		2047

Plan Assets and Fair Value

The Company’s pension plan target asset allocation and the weighted-average asset allocations as of December 31, 2024 and 2023 by asset category were as follows:


Asset Category	Target		2024		2023
U.S. Plans
Equity securities	30	%	27	%	23	%
Debt securities	70	%	71	%	70	%
Other	—	%	2	%	7	%
Total	100	%	100	%	100	%

Foreign Plans
Equity securities	17	%	18	%	15	%
Debt securities	65	%	62	%	63	%
Other	18	%	20	%	22	%
Total	100	%	100	%	100	%

As of December 31, 2024 and 2023, “Other” consisted principally of cash and cash equivalents, and investments in real estate funds.

The following is a description of the valuation methodologies used for the investments measured at fair value, including the general classification of such instruments pursuant to the fair value hierarchy, where applicable (refer to Note 1, Basis of Presentation and Significant Accounting Policies, for a definition of the levels of the fair value hierarchy):

Cash and Cash Equivalents

Cash and cash equivalents consist of cash and money market funds and are classified as Level 1 investments.

Commingled Funds

Investments in the U.S. pooled separate accounts consist primarily of mutual funds, each of which follows a separate investment strategy, and are valued based on the reported unit value at year end. Foreign pension plan commingled funds represent pooled institutional investments, including primarily collective investment trusts. These commingled funds are not available on an exchange or in an active market and these investments are valued using their net asset value (“NAV”), which is generally based on the underlying asset values of the investments held in the trusts. As of December 31, 2024, the foreign pension plan commingled funds included approximately 37 percent of investments in equity securities, 48 percent of investments in fixed income securities, and 15 percent of other non-related investments, primarily real estate. As of December 31, 2023, the foreign pension plan commingled funds included approximately 35 percent of investments in equity securities, 50 percent of investments in fixed income securities, and 14 percent of other non-related investments, primarily real estate.

Pooled Separate Accounts

Investments in the U.S. pension plan pooled separate accounts consist of annuity contracts and are valued based on the reported unit value at year end. Units of the pooled separate account are not traded on an exchange or in an active market; however, valuation is based on the underlying investments of each pooled separate account and are classified as Level 2 investments. As of December 31, 2024, the U.S. pension plan pooled separate accounts included approximately 28 percent of investments in equity securities and 72 percent of investments in fixed income securities.

Fixed Income Government Securities

Investments in foreign pension plans fixed income government securities were valued using third party pricing services which are based on a combination of quoted market prices on an exchange in an active market as well as proprietary pricing models and inputs using observable market data and are classified as Level 2 investments.

Insurance Contract

The Company’s foreign pension plans invest in two separate insurance contracts. Investments in the first foreign pension plan insurance contract are valued at the highest value available for the Company at year end, either the reported cash surrender value of the contract or the vested benefit obligation. Both the cash surrender value and the vested benefit obligation are determined based on unobservable inputs, which are contractually or actuarially determined, regarding returns, fees, the present value of the future cash flows of the contract and benefit obligations.

During 2023, one of the Company’s foreign pension plans invested in an insurance contract that is valued at the value available for the Company at year end (i.e. the vested benefit obligation). The vested benefit obligation is determined based on unobservable inputs, which are actuarially determined, regarding returns, the present value of the future cash flows of the contract and benefit obligations. Both this contract and the contract described above are classified as Level 3 investments.

Diversified Equity Securities - Registered Investment Companies

Investments in the foreign pension plans diversified equity securities of registered investment companies are based upon the quoted redemption value of shares in the fund owned by the plan at year end. The shares of the fund are not available on an exchange or in an active market; however, the fair value is determined based on the underlying investments in the fund as traded on an exchange in an active market and are classified as Level 2 investments.

Fixed Income – Foreign Registered Investment Companies

Investments in the foreign pension plans fixed income securities of foreign registered investment companies are based upon the quoted redemption value of shares in the fund owned by the plan at year end. The shares of the fund are not available on an exchange or in an active market; however, the fair value is determined based on the underlying investments in the fund as traded on an exchange in an active market and are classified as Level 2 investments.

Diversified Investment Fund - Registered Investment Companies

Investments in the foreign pension plan diversified investment fund of registered investment companies are based upon the quoted redemption value of shares in the fund owned by the plan at year end. This fund is not available on an exchange or in an active market and this investment is valued using its NAV, which is generally based on the underlying asset values of the investments held. There were no such investments as of December 31, 2024 and 2023.

Other – Alternative Investments

Investments in the foreign pension plans include certain other alternative investments such as inflation and interest rate swaps. These investments are valued based on unobservable inputs, which are contractually or actuarially determined, regarding returns, fees, the present value of future cash flows of the contract and benefit obligations. These alternative investments are classified as Level 3 investments.

Real Estate

The U.S. and foreign pension plans’ investment in real estate consists of investments in property funds. The funds’ underlying investments consist of real property which are valued using unobservable inputs. These property funds are classified as Level 3 investments.

As of December 31, 2024 and 2023, the U.S. and foreign plans’ investments measured at fair value on a recurring basis were as follows:


			Fair Value Measurements at December 31, 2024
	Total Fair Value		Using Fair Value Hierarchy
U.S. Pension Assets			Level 1		Level 2		Level 3
Pooled separate accounts	$	58,454	$	—	$	58,454	$	—
Real estate	1,094		—		—		1,094
Subtotal U.S. pension plan assets in fair value hierarchy	$	59,548	$	—	$	58,454	$	1,094
Total U.S. pension plan assets	$	59,548

Foreign Pension Assets
Cash and cash equivalents	$	1,014	$	1,014	$	—	$	—
Insurance contract	107,797		—		—		107,797
Diversified equity securities - registered investment companies	2,045		—		2,045		—
Fixed income – foreign registered investment companies	8,355		—		8,355		—
Real estate	1,717		—		—		1,717
Subtotal foreign pension assets in fair value hierarchy	$	120,928	$	1,014	$	10,400	$	109,514
Commingled funds measured at NAV	2,035
Total foreign pension assets	$	122,963

Total pension assets in fair value hierarchy	$	180,476	$	1,014	$	68,854	$	110,608
Total pension assets measured at NAV	2,035
Total pension assets	$	182,511


			Fair Value Measurements at December 31, 2023
	Total Fair Value		Using Fair Value Hierarchy
U.S. Pension Assets			Level 1		Level 2		Level 3
Pooled separate accounts	$	56,820	$	—	$	56,820	$	—
Real estate	4,147		—		—		4,147
Subtotal U.S. pension plan assets in fair value hierarchy	$	60,967	$	—	$	56,820	$	4,147
Total U.S. pension plan assets	$	60,967

Foreign Pension Assets
Cash and cash equivalents	$	1,582	$	1,582	$	—	$	—
Insurance contract	118,393		—		—		118,393
Diversified equity securities - registered investment companies	1,892		—		1,892		—
Fixed income – foreign registered investment companies	9,676		—		9,676		—

Real estate	1,771		—		—		1,771

Subtotal foreign pension assets in fair value hierarchy	$	133,314	$	1,582	$	11,568	$	120,164
Commingled funds measured at NAV	2,073
Total foreign pension assets	$	135,387

Total pension assets in fair value hierarchy	$	194,281	$	1,582	$	68,388	$	124,311
Total pension assets measured at NAV	2,073
Total pension assets	$	196,354

During the third quarter of 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.

Certain investments that are measured at fair value using the NAV per share (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented for these investments in the preceding tables are intended to permit reconciliation of the fair value hierarchies to the line items presented in the statements of net assets available for benefits.

Changes in the fair value of the plans’ Level 3 investments during the years ended December 31, 2024 and 2023 were as follows:


	Insurance Contract		Real Estate		Total
Balance as of December 31, 2022	$	59,963	$	8,902	$	68,865
Purchases (Sales)	47,640		(303)		47,337

Unrealized gains (losses)	7,621		(2,867)		4,754
Currency translation adjustment	3,169		186		3,355
Balance as of December 31, 2023	118,393		5,918		124,311
Sales	(1,310)		(2,952)		(4,262)
Unrealized losses	(4,620)		(128)		(4,748)
Currency translation adjustment	(4,666)		(27)		(4,693)
Balance as of December 31, 2024	$	107,797	$	2,811	$	110,608

The Company contributes to a multiemployer defined benefit pension plan under terms of a collective bargaining union contract (the Cleveland Bakers and Teamsters Pension Fund, Employer Identification Number: 34-0904419-001). The expiration date of the collective bargaining contract is May 1, 2025. As of January 1, 2024, the last valuation date available for the multiemployer plan, total plan liabilities were approximately $555 million. As of December 31, 2023, the multiemployer pension plan had total plan assets of approximately $348 million. The Company’s contribution rate to the multiemployer pension plan is specified in the collective bargaining union contract and contributions are made to the plan based on its union employee payroll. The Company contributed $0.1 million during the year ended December 31, 2024. The Employee Retirement Income Security Act of 1974, as amended by the Multi-Employer Pension Plan Amendments Act of 1980, imposes certain contingent liabilities upon an employer who is a contributor to a multiemployer pension plan if the employer withdraws from the plan or the plan is terminated or experiences a mass withdrawal. In connection with a site closure, the Company intends to withdraw from the multiemployer pension plan during the first half of 2025 and will be charged for its share of the multiemployer pension plan’s unfunded liability. The Company will record a withdrawal liability once an amount is determined and reasonably estimable in 2025. While the Company may also have additional liabilities imposed by law as a result of its participation in the multiemployer defined benefit pension plan, there is no liability as of December 31, 2024.

The Pension Protection Act of 2006 (the “PPA”) also added special funding and operational rules generally applicable to plan years beginning after 2007 for multiemployer plans with certain classifications based on a multitude of factors (including, for example, the plan’s funded percentage, cash flow position and whether the plan is projected to experience a minimum funding deficiency). The plan to which the Company contributes is in “critical” status. Plans in the “critical” status classification must adopt measures to improve their funded status through a funding improvement or rehabilitation plan which may require additional contributions from employers (which may take the form of a surcharge on benefit contributions) and/or modifications to retiree benefits. The amount of additional funds that the Company may be obligated to contribute to the plan in the future cannot be estimated as such amounts will be likely based on future levels of work that require the specific use of those union employees covered by the plan, and the amount of that future work and the number of affected employees that may be needed is not reasonably estimable.

Cash Flows

Contributions

The Company expects to make cash contributions of approximately $6.0 million to its pension plans (approximately $3.3 million U.S. and $2.7 million Foreign) and approximately $0.2 million to its other postretirement benefit plan in 2025.

Estimated Future Benefit Payments

Excluding any impact related to the PPA noted above, the following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:


	Pension Benefits						Other Post- Retirement Benefits
	Foreign		U.S.		Total
2025	$	6,354	$	7,958	$	14,312	$	170
2026	7,099		6,930		14,029		161
2027	6,800		6,247		13,047		140
2028	6,945		6,173		13,118		130
2029	8,453		6,070		14,523		120
2030 to 2034	43,345		28,280		71,625		469

The Company maintains a plan under which supplemental retirement benefits are provided to certain officers. Benefits payable under the plan are based on a combination of years of service and existing postretirement benefits. Included in total pension costs are charges of $0.6 million for both the years ended December 31, 2024 and 2023, respectively, and $0.7 million for the year ended December 31, 2022, representing the annual accrued benefits under this plan.

Defined Contribution Plan

The Company sponsors various defined contribution plans in both its U.S. and non-U.S. subsidiaries, under which eligible participants may defer a portion of their compensation up to the allowable amount as determined by the plan. All contributions and Company matches are invested at the direction of the participant. The most significant plan is the Company's primary U.S. 401(k) plan with an employer match covering a majority of its U.S. employees. Beginning in April 2020 and continuing through March 2021, the Company matched both non-elective and elective 401(k) contributions in fully vested shared of the Company’s common stock rather than cash. See Note 8, Equity, for additional information. Total Company contributions under this U.S. 401(k) plan were $6.6 million, $6.1 million and $7.2 million for the years ended December 31, 2024, 2023 and 2022, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (d)(iii)
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Section 50
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

+ Details

Debt - Debt related expenses included within Interest expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt related expenses included within Interest expense:
Interest expense	$ 43,223	$ 53,582	$ 33,691
Amortization of debt issuance costs	1,413	1,413	2,942
Total	$ 44,636	$ 54,995	$ 36,633

Net Sales and Revenue Recognition - Disaggregation of the Company's net sales (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Product Information [Line Items]
Net sales	$ 1,839,686	$ 1,953,313	$ 1,943,585
Operating Segments \| Product
Product Information [Line Items]
Net sales	1,839,686	1,953,313	1,943,585
Operating Segments \| Metals
Product Information [Line Items]
Net sales	601,515	600,731	604,657
Operating Segments \| Metalworking and other
Product Information [Line Items]
Net sales	1,238,171	1,352,582	1,338,928
Operating Segments \| Americas
Product Information [Line Items]
Net sales	882,131	977,095	946,516
Operating Segments \| Americas \| Product
Product Information [Line Items]
Net sales	882,131	977,095	946,516
Operating Segments \| Americas \| Metals
Product Information [Line Items]
Net sales	258,818	268,174	252,513
Operating Segments \| Americas \| Metalworking and other
Product Information [Line Items]
Net sales	623,313	708,921	694,003
Operating Segments \| EMEA
Product Information [Line Items]
Net sales	536,435	571,347	562,508
Operating Segments \| EMEA \| Product
Product Information [Line Items]
Net sales	536,435	571,347	562,508
Operating Segments \| EMEA \| Metals
Product Information [Line Items]
Net sales	135,373	136,979	137,767
Operating Segments \| EMEA \| Metalworking and other
Product Information [Line Items]
Net sales	401,062	434,368	424,741
Operating Segments \| Asia/Pacific
Product Information [Line Items]
Net sales	421,120	404,871	434,561
Operating Segments \| Asia/Pacific \| Product
Product Information [Line Items]
Net sales	421,120	404,871	434,561
Operating Segments \| Asia/Pacific \| Metals
Product Information [Line Items]
Net sales	207,324	195,578	214,377
Operating Segments \| Asia/Pacific \| Metalworking and other
Product Information [Line Items]
Net sales	$ 213,796	$ 209,293	$ 220,184

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 32
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Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

Income Taxes - Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Income tax provision at the Federal statutory tax rate	$ 32,562	$ 32,156	$ 1,495
Unremitted earnings	(30)	1,211	(1,839)
Tax law changes / reform	(37)	47	823
U.S. tax on foreign operations	9,625	9,014	4,864
Foreign derived intangible income	(1,336)	(1,147)	(917)
Withholding taxes	8,418	11,193	7,785
Foreign tax credits	(6,898)	(3,432)	(5,850)
Share-based compensation	2,345	1,814	1,372
Foreign tax rate differential	1,315	4,731	4,782
Research and development credit	(1,902)	(2,000)	(1,757)
Audit settlements	0	456	2,697
Uncertain tax positions	(2,372)	(598)	(6,375)
State income tax provisions, net	1,905	2,158	432
Non-deductible expenses	341	416	190
Intercompany transfer of intangible assets	2,295	(584)	(1,932)
Goodwill impairment	0	0	19,550
Provision to return and other adjustments	2,655	(930)	21
Miscellaneous items, net	414	1,080	(416)
Taxes on income before equity in net income of associated companies	$ 49,300	$ 55,585	$ 24,925

Business Segments - Schedule of Net Sales and Long-Lived Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 1,839,686	$ 1,953,313	$ 1,943,585
Total segment long-lived assets	379,024	366,349	358,334
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	637,755	718,742	696,885
Total segment long-lived assets	217,687	217,834	201,960
China
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	230,622	231,331	265,418
Other foreign operations
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	971,309	1,003,240	981,282
Foreign operations
Revenues from External Customers and Long-Lived Assets [Line Items]
Total segment long-lived assets	$ 161,337	$ 148,515	$ 156,374

- Definition

+ References

+ Details

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table summarizes earnings per share calculations for the years ended December 31, 2024, 2023 and 2022:


	2024		2023		2022
Basic earnings (loss) per common share
Net income (loss) attributable to Quaker Chemical Corporation	$	116,644	$	112,748	$	(15,931)
Less: (income) loss allocated to participating securities	(375)		(555)		92
Net income (loss) available to common shareholders	$	116,269	$	112,193	$	(15,839)
Basic weighted average common shares outstanding	17,850,462		17,892,461		17,841,487
Basic earnings (loss) per common share	$	6.51	$	6.27	$	(0.89)

Diluted earnings (loss) per common share
Net income (loss) attributable to Quaker Chemical Corporation	$	116,644	$	112,748	$	(15,931)
Less: (income) loss allocated to participating securities	(375)		(554)		92
Net income (loss) available to common shareholders	$	116,269	$	112,194	$	(15,839)
Basic weighted average common shares outstanding	17,850,462		17,892,461		17,841,487
Effect of dilutive securities	19,605		22,348		15,005
Diluted weighted average common shares outstanding	17,870,067		17,914,809		17,856,492
Diluted earnings (loss) per common share	$	6.51	$	6.26	$	(0.89)

Hedging Activities - Schedule of Notional Amounts of Outstanding Derivative Positions (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Derivative [Line Items]
Derivative, notional amount	$ 22,300
Mexican Peso
Derivative [Line Items]
Derivative, notional amount	17,800
Japanese Yen
Derivative [Line Items]
Derivative, notional amount	$ 4,500

Business Combinations (Details) - USD ($) $ in Thousands	1 Months Ended				2 Months Ended	12 Months Ended
Business Combinations (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Feb. 29, 2024	Oct. 31, 2022	Jan. 31, 2022	Feb. 24, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Acquisition-related earnout liability						$ 0	$ 475
Earnout liability adjustment						400	0	$ 0
Goodwill						518,894	$ 512,518	$ 515,008
Goodwill from acquisitions						21,959
Assets related to sealing and impregnation of metal castings
Business Acquisition [Line Items]
Asset acquisition, consideration transferred				$ 1,400
Sutai Group
Business Acquisition [Line Items]
Purchase price	$ 16,200
Cash payments to acquire businesses	14,600
Acquisition-related earnout liability	1,600					1,200
Cash acquired	5,500
Earnout liability adjustment						$ 400
Acquired intangible assets	3,100
Goodwill	$ 5,500
I.K.V. Tribologie IKVT
Business Acquisition [Line Items]
Purchase price		$ 35,200
Cash payments to acquire businesses		29,700
Acquisition-related earnout liability		5,500
Cash acquired		4,800
Acquired intangible assets		15,000
Goodwill		16,400
I.K.V. Tribologie IKVT \| Customer Relationships
Business Acquisition [Line Items]
Acquired intangible assets		$ 11,100
Intangible assets, amortizable life		16 years
I.K.V. Tribologie IKVT \| Technology-Based Intangible Assets
Business Acquisition [Line Items]
Acquired intangible assets		$ 3,200
Intangible assets, amortizable life		14 years
I.K.V. Tribologie IKVT \| Trademarks
Business Acquisition [Line Items]
Acquired intangible assets		$ 700
Intangible assets, amortizable life		5 years
Business Related to Pickling and Rinsing Products and Services
Business Acquisition [Line Items]
Purchase price			$ 3,500
Goodwill			800
Acquired intangible assets			$ 2,800
Business Related to Pickling and Rinsing Products and Services \| Customer Relationships
Business Acquisition [Line Items]
Intangible assets, amortizable life			10 years
Acquired intangible assets			$ 2,300
Business Related to Pickling and Rinsing Products and Services \| Trademarks
Business Acquisition [Line Items]
Intangible assets, amortizable life			10 years
Acquired intangible assets			$ 300
Business Related to Pickling and Rinsing Products and Services \| Product technology
Business Acquisition [Line Items]
Intangible assets, amortizable life			10 years
Acquired intangible assets			$ 200
Business Related To Pickling Inhibitor Technologies
Business Acquisition [Line Items]
Purchase price				8,000
Acquired intangible assets				5,600
Goodwill from acquisitions				$ 1,800
Business Related To Pickling Inhibitor Technologies \| Customer Relationships
Business Acquisition [Line Items]
Intangible assets, amortizable life				14 years
Acquired intangible assets				$ 5,100
Business Related To Pickling Inhibitor Technologies \| Patented Technology
Business Acquisition [Line Items]
Intangible assets, amortizable life				14 years
Acquired intangible assets				$ 500
CSI \| Subsequent Event
Business Acquisition [Line Items]
Purchase price					$ 3,900

Basis of Presentation and Significant Accounting Policies - Share-Based Compensation (Details)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Forfeiture rate, nonvested stock awards	13.00%

Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 112,457	$ 119,047
Work in process, finished goods and reserves	115,015	114,810
Total inventories	$ 227,472	$ 233,857

Other Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2024

Accrued Liabilities, Current [Abstract]

Schedule of Accrued Liabilities

Other accrued liabilities as of December 31, 2024 and 2023 were as follows:


	2024		2023
Non-income taxes	$	25,455	$	27,295
Short-term lease liabilities (See Note 6)	10,619		11,965
Selling expenses and freight accruals	10,716		7,789
Current income taxes payable (See Note 10)	12,772		14,835
Professional fees, legal, and acquisition-related accruals	5,340		5,577
Accrued interest (See Note 19)	1,289		2,630
Customer advances and sales return reserves	3,855		2,454
Accrued insurance	6,041		2,295
Accrued environmental reserves (See Note 25)	1,235		1,187
Earnout liability (See Note 2)	1,160		—
Accrued rent and facilities	1,129		1,104
Accrued non-pension benefits	833		581
Foreign currency forward contracts (See Note 24)	67		159
Other	157		12,444
Total other accrued liabilities	$	80,668	$	90,315

Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

Open foreign exchange forward contracts as of December 31, 2024 were entered into as hedges of Japanese yen and Mexican peso against the U.S. dollar and had the following notional U.S. dollar values:


Currency	December 31, 2024
Mexican Peso	$	17,800
Japanese Yen	4,500
Total	$	22,300

Schedule of Balance Sheet Classification and Fair Values of Derivative Instruments

The balance sheet classification and fair values of the Company’s derivative instruments are as follows:


Derivative instruments	Consolidated Balance Sheet Location	December 31,
		2024		2023

Interest rate swaps	Other non-current assets	$	1,621	$	1,828
Foreign currency forward contracts	Other accrued liabilities	67		159

The following table presents the net unrealized loss deferred to AOCI:


		December 31,
		2024		2023
Derivatives designated as cash flow hedges
Interest rate swaps	AOCI	$	1,248	$	1,407

The following table presents the net gain or loss recognized in the Company’s Consolidated Statements of Operations for the years ended December 31, 2024, 2023 and 2022:


Derivative instruments	Consolidated Statements of Operations Location	2024		2023		2022
Interest rate swaps	Interest expense, net	$	4,770	$	3,555	$	—
Foreign exchange forward contracts	Other (expense) income, net	(2,026)		2,134		—
Total		$	2,744	$	5,689	$	—

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization		$ 58,200,000	$ 58,200,000	$ 57,500,000
Indefinite lived intangible assets		185,300,000
Indefinite-lived trademarks			193,200,000
Impairment charges	$ 93,000,000	$ 0	$ 0	$ 93,000,000

Basis of Presentation and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies As used in these Notes to Consolidated Financial Statements, the terms “Quaker,” “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. Basis of presentation: The accompanying consolidated financial statements were prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and include the accounts of Quaker Houghton and its controlled subsidiaries. Principles of consolidation: We consolidate all entities we control, which generally applies to entities in which we own a majority of the voting interests. Intercompany transactions and balances are eliminated in consolidation. For consolidated subsidiaries in which the Company’s ownership is less than 100%, the outside shareholders’ interests are reflected as non-controlling interests within the consolidated financial statements. The Company is not the primary beneficiary of any variable interest entities (“VIEs”) and therefore the Company’s consolidated financial statements do not include the accounts of any VIEs. Equity method investments: The Company applies the equity method of accounting to investments in which the Company has significant influence but does not control the operating and financial decisions of the investee. This generally applies when the Company’s ownership interest in common stock of the investee is between 20% and 50%. Such investments are presented in “Investments in associated companies” on the Consolidated Balance Sheets. We initially record our investment at cost and subsequently adjust the investment to recognize our share of net earnings and losses and distributions received. The Company’s share of net income or losses in these investments in associated companies is included in the Consolidated Statements of Operations. The Company reviews these investments for impairments when events or changes in circumstances indicate that the carrying amount of the investment may be other-than-temporarily impaired. See Note 16, Investments in Associated Companies, for additional information. Accounting estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from such estimates. Foreign currency: Since we do business in many foreign countries, fluctuations in currency exchange rates affect our financial position and result of operations. In most of our non-U.S. operations, the local currency is considered the functional currency. The assets and liabilities of non-U.S. subsidiaries and associated companies are translated into U.S. dollars at the respective rates of exchange prevailing at the end of the year. Income and expense accounts are translated at average exchange rates prevailing during the year. Translation adjustments resulting from this process are recorded directly in equity as accumulated other comprehensive income (“AOCI”). Some transactions are made in currencies different from an entity’s functional currency. Gains and losses from remeasurement of these foreign currency transactions, and the impact of related hedges, are generally reflected in “Other income (expense), net” in the consolidated income statements as they occur. See Note 9, Other Income (Expense), Net, and our policy on accounting for hyperinflation below, for additional information. Hyper-inflationary accounting: Economies that have a cumulative three-year rate of inflation exceeding 100% are considered hyper-inflationary. A legal entity that operates within an economy deemed to be hyper-inflationary is required to remeasure its monetary assets and liabilities to the applicable published exchange rates and record the associated gains or losses resulting from the remeasurement directly to the Consolidated Statements of Operations. Argentina’s and Türkiye’s economies were considered hyper-inflationary effective July 1, 2018 and April 1, 2022, respectively. As of, and for the year ended December 31, 2024, the Company's Argentine and Turkish subsidiaries represented a combined 1% and 2% of the Company’s consolidated total assets and net sales, respectively. For the years ended December 31, 2024, 2023 and 2022, the Company recorded $0.8 million, $7.8 million, and $1.6 million, respectively, of remeasurement losses associated with the applicable currency conversions related to Argentina and Türkiye. These losses were recorded within foreign exchange losses, net, which is a component of Other income (expense), net, in the Company’s Consolidated Statements of Operations. Segments: The Company’s operating segments, which are consistent with its reportable segments, reflect the structure of the Company’s internal organization, the method by which the Company’s resources are allocated and the manner by which the Chief Operating Decision Maker assesses the Company’s performance. 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 and 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 15 for additional information. Reclassifications: Certain information has been reclassified to conform to the current year presentation. Business combinations: The Company accounts for business combinations under the acquisition method of accounting. This method requires the recording of acquired assets, including separately identifiable intangible assets, and assumed liabilities at their respective acquisition date estimated fair values. Any excess of the purchase price over the estimated fair value of the identifiable net assets acquired is recorded as goodwill. The determination of the estimated fair value of assets acquired and liabilities assumed requires significant estimates and assumptions. Based on the assessment of additional information during the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the estimated fair value of assets acquired and liabilities assumed. Revenue recognition: The Company recognizes revenue in an amount that reflects the consideration to which the Company expects to be entitled in exchange for goods or services transferred to its customers. To do this, the Company applies a five-step model, which requires the Company to: (i) identify the contract with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when, or as, the Company satisfies the performance obligation. The Company identifies a contract with a customer when a sales agreement indicates approval and commitment of the parties; identifies the rights of the parties; identifies the payment terms; has commercial substance; and it is probable that the Company will collect the consideration to which it will be entitled in exchange for the goods or services that will be transferred to the customer. The Company identifies a performance obligation in a contract for each promised good or service that is separately identifiable from other obligations in the contract and for which the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer. The Company determines the transaction price as the amount of consideration it expects to be entitled to in exchange for fulfilling the performance obligations, including the effects of any variable consideration, significant financing elements, amounts payable to the customer or noncash consideration. For any contracts that have more than one performance obligation, the Company allocates the transaction price to each performance obligation in an amount that depicts the amount of consideration to which the Company expects to be entitled in exchange for satisfying each performance obligation. In accordance with the last step of the five-step model, the Company recognizes revenue when, or as, it satisfies the performance obligation in a contract by transferring control of a promised good or providing the service to the customer. The Company typically satisfies its performance obligations and recognizes revenue at a point in time for product sales, generally when products are shipped or delivered to the customer, depending on the terms underlying each arrangement. In circumstances where the Company’s products are on consignment, revenue is generally recognized upon usage or consumption by the customer. For any FluidcareTM or other services provided by the Company to the customer, the Company typically satisfies its performance obligations and recognizes revenue over time, as the promised services are performed. The Company uses input methods to recognize revenue over time related to these services, including labor costs and time incurred. The Company believes that these input methods represent the most indicative measure of the FluidcareTM or other service work performed by the Company. The Company does not have standard payment terms for all customers; however, the Company’s general payment terms require customers to pay for products or services once the performance obligation is satisfied. The Company does not have significant financing arrangements with its customers. In addition, the Company expenses costs to obtain a contract as incurred when the expected period of benefit, and therefore the amortization period, is one year or less. In addition, the Company excludes from the measurement of the transaction price all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the entity from a customer, including sales, use, value added, excise and various other taxes. Lastly, the Company has elected to account for shipping and handling costs incurred after the customer has obtained control of a good as a fulfillment cost, rather than an additional promised service. The Company does not have significant amounts of variable consideration in its contracts with customers. The Company records license fees received from third-parties in Other income (expense), net, in its Consolidated Statements of Operations, which generally include sales-based royalties in exchange for the license of intellectual property. These license fees are recognized in accordance with their agreed-upon terms and when performance obligations are satisfied, which is generally when the third party has a subsequent sale. The Company recognizes a contract asset or receivable on its Consolidated Balance Sheet when the Company performs a service or transfers a good in advance of receiving consideration. A receivable is the Company’s right to consideration that is unconditional and only the passage of time is required before payment of that consideration is due. A contract asset is the Company’s right to consideration in exchange for goods or services that the Company has transferred to a customer. 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 Company’s obligation to transfer goods or services to a customer for which the Company has received consideration, or a specified amount of consideration is due, from the customer. See Note 5, Net Sales and Revenue Recognition, for additional information. Right-of-use lease assets and lease liabilities: The Company determines if an arrangement is a lease at its inception. This determination generally depends on whether the arrangement conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control of an underlying asset is conveyed if the Company obtains the right to direct the use of the asset, and obtains substantially all of the economic benefits from its use. Lease expense for variable leases and short-term leases is recognized when the obligation is incurred. The lease term for all of the Company’s leases includes the non-cancellable period of the lease, adjusted for any renewal and termination options that the Company is reasonably certain it will exercise. Operating leases are included in right-of-use lease assets, other accrued liabilities and long-term lease liabilities on the Consolidated Balance Sheet. Right-of-use lease assets and liabilities are recognized on the lease commencement date based on the present value of lease payments over the respective lease term. Operating lease expense is recognized on a straight-line basis over the lease term. The Company uses the stated borrowing rate for a lease when readily determinable. When a stated borrowing rate is not available in a lease agreement, the Company uses its incremental borrowing rate at the lease commencement date to determine the present value of its lease payments. In determining the incremental borrowing rate, the Company considers information including fully secured borrowing rates readily available to the Company and its subsidiaries. The Company includes finance leases in property, plant and equipment (“PP&E”), current portion of long-term debt and long-term debt on the Consolidated Balance Sheet. See Note 6, Leases, for additional information. Restructuring activities: Restructuring programs consist of employee severance, rationalization of manufacturing or other facilities and other related items. To account for such programs, the Company recognizes a liability for the cost associated with an exit or disposal activity, when the liability is incurred, is estimable, and payment is probable. See Note 7, Restructuring and Related Activities, for additional information. Share-based compensation: The Company has long-term incentive programs (“LTIP”) for key employees which provides for the granting of stock options, restricted stock units (“RSU”), restricted stock awards (“RSAs”), and performance-based stock awards (“PSUs”). Share-based awards may also be granted under other equity compensation plans. Share-based compensation cost for awards under LTIP and equity compensation plans is measured at the grant date based on the fair value and is recognized as expense over the requisite service period, which is the vesting period. The fair value of stock options granted is determined using the Black-Scholes option valuation model on the grant date. The fair value of time-based RSAs, time-based RSUs, and performance-based PSUs, for which the performance measure is return on investment capital (“ROIC”), is based on the trading price of the Company’s common stock on the date of grant. The fair value of market-based PSUs, for which the performance measure is total shareholder return (“TSR”), is determined using a Monte Carlo simulation model. Prior to 2023, the Company elected to assume an estimated forfeiture rate of 13% based on historical experience. Beginning in 2023, the Company elected to account for forfeitures on new awards as they occur. See Note 8, Equity, for additional information. Research and development costs: Research and development costs are expensed as incurred and are included in selling, general and administrative expenses (“SG&A”). Research and development expenses were $57.3 million, $50.3 million and $46.0 million for the years ended December 31, 2024, 2023 and 2022, respectively. Income taxes and uncertain tax positions: The provision for income taxes is determined using the asset and liability approach of accounting for income taxes. Under this approach, deferred taxes represent the future tax consequences expected to occur when the reported amounts of assets and liabilities are recovered or paid. The provision for income taxes represents income taxes paid or payable for the current year and the change in deferred taxes during the year. Deferred taxes result from differences between the financial and tax bases of the Company’s assets and liabilities and are adjusted for changes in tax rates and tax laws when changes are enacted. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. The Company accounts for uncertainty in income taxes by applying the recognition threshold and measurement attributes for financial statement recognition and measurement of tax positions taken or expected to be taken on a tax return. The Company determines whether the benefits of tax positions are probable or more likely than not sustained upon audit based upon the technical merits of the tax position. For tax positions that are determined to be more likely than not sustained upon audit, the Company recognizes the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement in the financial statements. For tax positions that are not determined to be more likely than not sustained upon audit, the Company does not recognize any portion of the benefit in the financial statements. Additionally, the Company monitors and adjusts for derecognition, classification, and penalties and interest in interim periods, with appropriate disclosure and transition thereto. Also, the amount of interest expense and income related to uncertain tax positions is computed by applying the applicable statutory rate of interest to the difference between the tax position recognized, including timing differences, and the amount previously taken or expected to be taken in a tax return. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. Finally, when applicable, the Company nets its liability for unrecognized tax benefits against deferred tax assets related to net operating losses or other tax credit carryforwards that would apply if the uncertain tax position were settled for the presumed amount at the balance sheet date. Pursuant to the Tax Cuts and Jobs Act (“U.S. Tax Reform”), specifically the one-time tax on deemed repatriation (the “Transition Tax”), the Company has provided for U.S. income tax on its undistributed earnings of non-U.S. subsidiaries. However, the Company is subject to and will incur other taxes, such as withholding taxes and dividend distribution taxes, if these undistributed earnings were ultimately remitted to the U.S. The Company currently intends to reinvest its future undistributed earnings of non-U.S. subsidiaries to support working capital needs and certain other growth initiatives of those subsidiaries. However, in certain cases the Company has and may in the future change its indefinite reinvestment assertion for any or all of these undistributed earnings. In this case, the Company would estimate and record a tax liability and corresponding tax expense for the amount of non-U.S. income taxes it would incur to ultimately remit these earnings to the U.S. See Note 10, Income Taxes, for additional information. Earnings per share: In the Company’s earnings per share calculation, non-vested stock awards with rights to non-forfeitable dividends are included as part of the basic weighted average share calculation under the two-class method. See Note 11, Earnings per Share, for additional information. Comprehensive income (loss): The Company presents Other comprehensive (loss) income in its Statements of Comprehensive Income (Loss). The Company discloses significant amounts reclassified from each component of AOCI, the related tax amounts and the income statement line items affected by such reclassifications. See Note 22, Accumulated Other Comprehensive Loss, for additional information. Cash and cash equivalents: The Company invests temporary and excess funds in money market securities and financial instruments having maturities within 90 days. The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The Company has not experienced losses from the aforementioned investments. Accounts receivable and allowance for credit losses: Trade accounts receivable subject the Company to credit risk. Trade accounts receivable are recorded at the invoiced amount and generally do not bear interest. The Company recognizes an allowance for credit losses, which represents the portion of the receivable that the Company does not expect to collect over its contractual life, considering past events and reasonable and supportable forecasts of future economic conditions. The Company’s allowance for credit losses on its trade accounts receivable is based on specific collectability facts and circumstances, the aging of outstanding receivables, and the associated collection risk the Company estimates for certain past due aging categories, and also, the general risk to all outstanding accounts receivable based on historical amounts determined to be uncollectible. The Company does not have any off-balance-sheet credit exposure related to its customers. See Note 12, Accounts Receivable and Allowance for Credit Losses, for additional information. Inventories: Inventories are valued at the lower of cost or net realizable value, and are valued using the first-in, first-out method. See Note 13, Inventories, for additional information. Long-lived assets: PP&E is stated at gross cost, less accumulated depreciation. Depreciation is computed using the straight-line method on an individual asset basis over the following estimated useful lives: buildings and improvements, 10 to 33 years (for finance leases, the remaining term of the lease); and machinery and equipment, 4 to 10 years (for financing leases, the remaining term of the lease). The carrying values of long-lived assets are evaluated whenever changes in circumstances or current events indicate the carrying amount of such assets may not be recoverable. An estimate of undiscounted cash flows produced by the asset, or the appropriate group of assets, is compared with the carrying value to determine whether an impairment exists. If necessary, the Company recognizes an impairment loss for the difference between the carrying amount of the assets and their estimated fair value. Fair value is based on current and anticipated future cash flows. Upon sale or other disposition of long-lived assets, the applicable asset cost and accumulated depreciation are removed from the accounts and the net amount, less proceeds from disposals, is recorded in the Consolidated Statements of Operations. Expenditures for improvements that increase the estimated useful life or capacity of the assets are capitalized, whereas expenditures for repairs and maintenance are expensed when incurred. See Note 14, Property, Plant, and Equipment, for additional information. Capitalized software: The Company capitalizes certain costs in connection with developing or obtaining software for internal use. These costs are amortized over the expected useful life of the software- generally 3 to 5 years once the assets are ready for their intended use. In connection with implementations and upgrades to the Company’s global transaction, consolidation and other related systems, approximately $2.9 million and $4.5 million of net costs were capitalized in PP&E on the Company’s Consolidated Balance Sheets as of December 31, 2024 and 2023, respectively. The Company capitalizes costs incurred with the implementation of a cloud computing arrangement that is a service contract, consistent with its policy for software for internal use. The capitalized costs are reflected in "Other non-current assets" on its Consolidated Balance Sheets and expensed over the term of the related hosting arrangement. Goodwill and other intangible assets: The Company records goodwill, definite-lived intangible assets and indefinite-lived intangible assets at fair value at the date of acquisition. Goodwill and indefinite-lived intangible assets are not amortized but tested for impairment at least annually. These tests will be performed more frequently if triggering events indicate potential impairment. In completing a quantitative goodwill impairment test, the Company compares a reporting unit’s fair value, primarily based on future discounted cash flows, to its carrying value in order to determine if an impairment charge is warranted. Definite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives, generally for periods ranging from 3 to 24 years. The Company continually evaluates the reasonableness of the useful lives of these assets, consistent with the discussion of long-lived assets, above. See Note 15, Goodwill and Other Intangible Assets, and Note 23, Fair Value Measures, for additional information. Fair value measurements: Fair value is defined as an exit price, or the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. See Notes 20, 23 and 24 for additional information. The following briefly describes those three levels: •Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. •Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly, for sustainability the full term of the asset or liability. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. •Level 3: Unobservable inputs for the asset or liability that reflect the reporting entity's own assumptions about the assumptions that market participants would use in pricing the asset or liability. Pension and other postretirement benefits: The Company maintains various noncontributory retirement plans, covering a portion of its employees in the U.S. and certain other countries, including the Netherlands, the United Kingdom (“U.K.”), Mexico, Sweden, Germany and France. The plans of the remaining non-U.S. subsidiaries are, for the most part, either fully insured or integrated with the local governments’ plans. The Company recognizes the funded status of defined benefit pension and other postretirement plans on its Consolidated Balance Sheets and also, recognizes as a component of AOCI, net of tax, the gains or losses and prior service costs that arise during the period but are not recognized as components of net periodic benefit cost. In addition, the Company recognizes a settlement charge in its Consolidated Statements of Operations when certain events occur, including plan termination or the settlement of certain plan liabilities. A settlement charge represents the immediate recognition into expense of a portion of the unrecognized loss within AOCI on the balance sheet in proportion to the share of the projected benefit obligation that was settled. The measurement date for the Company’s postretirement benefits plan is December 31. The Company’s global pension investment policies are designed to ensure that pension assets are invested in a manner consistent with meeting the future benefit obligations of the pension plans and maintaining compliance with various laws and regulations including the Employee Retirement Income Security Act of 1974. The Company establishes strategic asset allocation percentage targets and benchmarks for significant asset classes with the aim of achieving a prudent balance between return and risk. The Company’s investment horizon is generally long term, and, accordingly, the target asset allocations encompass a long-term perspective of capital markets, expected risk and return and perceived future economic conditions while also considering the profile of plan liabilities. To the extent feasible, the short-term investment portfolio is managed to match the short-term obligations, the intermediate portfolio duration is matched to reduce the risk of volatility in intermediate plan distributions, and the total return portfolio is managed to maximize the long-term real growth of plan assets. The critical investment principles of diversification, assessment of risk and targeting the optimal expected returns for given levels of risk are applied. The Company’s investment guidelines prohibit the use of securities such as letter stock and other unregistered securities, commodities or commodity contracts, short sales, margin transactions, private placements (unless specifically addressed by addendum), or any derivatives, options or futures for the purpose of portfolio leveraging. The target asset allocation is reviewed periodically and is determined based on a long-term projection of capital market outcomes, inflation rates, fixed income yields, returns, volatilities and correlation relationships. The interaction between plan assets and benefit obligations is periodically studied to assist in establishing such strategic asset allocation targets. Asset performance is monitored with an overall expectation that plan assets will meet or exceed benchmark performance over rolling five-year periods. The Company’s pension committee, as authorized by the Company’s Board, has discretion to manage the assets within established asset allocation ranges approved by senior management of the Company. See Note 20, Pension and Other Postretirement Benefits, for additional information. Derivatives: The Company uses interest rate swap agreements to manage risk, including exposure to variability in interest payments associated with its variable rate debt. 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. The Company uses foreign exchange forward contracts to economically hedge the impact of variability in exchange rates on certain assets and/or liabilities denominated in foreign currencies. Forward contracts are marked-to-market at each reporting date, with changes in the fair value of the underlying instruments, as well as gains and losses on the hedged foreign currency transactions, recognized in earnings in Other income (expense), net. The fair value of forward contracts are determined from sources independent of the Company, including the financial institutions which are party to the derivative instruments. See Note 24, Hedging Activities, for additional information Environmental liabilities and expenditures: Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimable. If there is a range of estimated liability and no amount in that range is considered more probable than another, then the Company records the lowest amount in the range. Environmental costs and remediation costs are capitalized if the costs extend the life, increase the capacity or improve safety or efficiency of the property from the date acquired or constructed, and/or mitigate or prevent contamination in the future. See Note 25, Commitments and Contingencies, for additional information.

Fair Value Measures - Narrative (Details) - USD ($) $ in Millions	1 Months Ended
	Jun. 30, 2023	Oct. 01, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Surrendered and liquidated life insurance policies	$ 1.9
Americas
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted average cost of capital percentage		10.00%
EMEA
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted average cost of capital percentage		10.50%
Asia/Pacific
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted average cost of capital percentage		10.00%

Basis of Presentation and Significant Accounting Policies - Research and development costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Research and development costs	$ 57.3	$ 50.3	$ 46.0

Earnings Per Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Earnings Per Share

The following table summarizes earnings per share calculations for the years ended December 31, 2024, 2023 and 2022:


	2024		2023		2022
Basic earnings (loss) per common share
Net income (loss) attributable to Quaker Chemical Corporation	$	116,644	$	112,748	$	(15,931)
Less: (income) loss allocated to participating securities	(375)		(555)		92
Net income (loss) available to common shareholders	$	116,269	$	112,193	$	(15,839)
Basic weighted average common shares outstanding	17,850,462		17,892,461		17,841,487
Basic earnings (loss) per common share	$	6.51	$	6.27	$	(0.89)

Diluted earnings (loss) per common share
Net income (loss) attributable to Quaker Chemical Corporation	$	116,644	$	112,748	$	(15,931)
Less: (income) loss allocated to participating securities	(375)		(554)		92
Net income (loss) available to common shareholders	$	116,269	$	112,194	$	(15,839)
Basic weighted average common shares outstanding	17,850,462		17,892,461		17,841,487
Effect of dilutive securities	19,605		22,348		15,005
Diluted weighted average common shares outstanding	17,870,067		17,914,809		17,856,492
Diluted earnings (loss) per common share	$	6.51	$	6.26	$	(0.89)

Certain stock options, restricted stock units and PSUs are not included in the diluted earnings per share calculation when the effect would be anti-dilutive. The number of anti-dilutive shares were 32,353, 10,621, and 28,222 for the years ended

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1.00	$ 1.00
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	17,673,607	17,991,988
Common stock, shares outstanding (in shares)	17,673,607	17,991,988

Leases - Narrative (Details) - USD ($)	12 Months Ended
Leases - Narrative (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Variable lease, cost	$ 0	$ 0	$ 0
Sublease income	0	$ 0	$ 0
Total lease commitment	$ 79,700,000
Facilities Vehicles and Machinery and Equipment \| Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term	10 years
Land \| Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease term	90 years

Other Non-Current Assets - Narrative (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Other Assets [Abstract]
Defined benefit plan, benefit obligation, benefits made to escrow	$ 0	$ 1,000,000

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 were as follows:


	Americas		EMEA		Asia/Pacific		Global Specialty Businesses		Total


Balance as of December 31, 2022	$	215,899	$	34,567	$	150,375	$	114,167	$	515,008
Reallocation of reporting units (1)	63,697		31,711		18,759		(114,167)		—
Balance as of January 1, 2023	279,596		66,278		169,134		—		515,008

Currency translation and other adjustments	3,507		(338)		(5,659)		—		(2,490)
Balance as of December 31, 2023	283,103		65,940		163,475		—		512,518
Goodwill from acquisitions	—		16,448		5,511		—		21,959
Currency translation and other adjustments	(6,228)		(1,984)		(7,371)		—		(15,583)
Balance as of December 31, 2024	$	276,875	$	80,404	$	161,615	$	—	$	518,894

(1) 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 reallocated goodwill previously held by the former Global Specialty Businesses segment to the remaining business segments as of January 1, 2023.


	2024		2023		2022
Goodwill, gross	$	611,498	$	609,571	$	608,008
Accumulated impairment losses (1)	(92,604)		(97,053)		(93,000)
Goodwill, net	$	518,894	$	512,518	$	515,008

(1) Accumulated impairment losses are attributable to the non-cash impairment charge of $93.0 million to write down the carrying value of the EMEA reporting unit during the fourth quarter of 2022 and includes the impact of currency translation.

Gross carrying amounts and accumulated amortization for definite-lived intangible assets as of December 31, 2024 and 2023 were as follows:


	Gross Carrying Amount				Accumulated Amortization				Net Book Value
	2024		2023		2024		2023		2024		2023
Customer lists and rights to sell	$	829,255	$	841,562	$	285,450	$	243,872	$	543,805	$	597,690
Trademarks, formulations and product technology	160,257		161,613		62,373		55,879		97,884		105,734
Other	5,759		5,892		5,663		5,776		96		116
Total definite-lived intangible assets	$	995,271	$	1,009,067	$	353,486	$	305,527	$	641,785	$	703,540

The Company recorded $58.2 million, $58.2 million and $57.5 million of amortization expense during the years ended December 31, 2024, 2023 and 2022, respectively. Amortization expense is recorded within SG&A in the Company’s Consolidated Statements of Operations. Estimated annual aggregate amortization expense for the subsequent five years is as follows:


For the year ended December 31, 2025	$	56,464
For the year ended December 31, 2026	56,174
For the year ended December 31, 2027	55,833
For the year ended December 31, 2028	55,374
For the year ended December 31, 2029	54,320

As of December 31, 2024 and December 31, 2023, the Company had indefinite-lived intangible assets for trademarks and tradenames totaling $185.3 million and $193.2 million, re

The Company completes its annual goodwill and indefinite-lived intangible asset impairment tests during the fourth quarter of each year, or more frequently if triggering events indicate a possible impairment in one or more of its reporting units. During the fourth quarter of 2022, the Company recorded a non-cash impairment charge of $93.0 million to write down the carrying value of the EMEA reporting unit goodwill to its estimated fair values. 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. Additionally, the Company completed its annual impairment assessment as of October 1, 2023 and October 1, 2024 and concluded in each case that no impairment existed. See Note 23, Fair Value Measures, for additional information.

The Company continually evaluates financial performance, economic conditions and other recent developments in assessing if a triggering event indicates that the carrying value of goodwill, indefinite-lived, or long-lived assets might be impaired. Notwithstanding the results of the Company’s impairment assessments during 2023 and 2024, if the Company is unable to maintain the actions aimed at improving the financial performance of the EMEA reporting unit, or interest rates rise, which leads to an increase in the cost of capital, then these conditions could result in a triggering event for the EMEA reporting unit. This assessment could result in an impairment of the EMEA reporting unit’s remaining goodwill, indefinite-lived intangible assets, or long-lived assets.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 188,880	$ 194,527
Accounts receivable, net	400,126	444,950
Inventories	227,472	233,857
Prepaid expenses and other current assets	59,939	54,555
Total current assets	876,417	927,889
Property, plant and equipment, net	229,532	207,811
Right-of-use lease assets	34,120	38,614
Goodwill	518,894	512,518
Other intangible assets, net	827,098	896,721
Investments in associated companies	98,012	101,151
Deferred tax assets	9,216	10,737
Other non-current assets	17,360	18,770
Total assets	2,610,649	2,714,211
Current liabilities
Short-term borrowings and current portion of long-term debt	37,554	23,444
Accounts payable	198,137	184,813
Dividends payable	8,572	8,186
Accrued compensation	50,212	55,194
Accrued restructuring	2,297	3,350
Accrued pension and postretirement benefits	2,328	2,208
Other accrued liabilities	80,668	90,315
Total current liabilities	379,768	367,510
Long-term debt	669,614	730,623
Long-term lease liabilities	20,028	22,937
Deferred tax liabilities	138,828	146,957
Non-current accrued pension and postretirement benefits	23,783	29,457
Other non-current liabilities	24,445	31,805
Total liabilities	1,256,466	1,329,289
Commitments and contingencies (Note 25)
Equity
Common stock, $1 par value; authorized 30,000,000 shares; issued and outstanding 2024 – 17,673,607 shares; 2023 – 17,991,988 shares	17,674	17,992
Capital in excess of par value	903,781	940,101
Retained earnings	633,731	550,641
Accumulated other comprehensive loss	(201,619)	(124,415)
Total Quaker shareholders’ equity	1,353,567	1,384,319
Noncontrolling interest	616	603
Total equity	1,354,183	1,384,922
Total liabilities and equity	$ 2,610,649	$ 2,714,211

Debt - Maturity Schedules (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
For the year ended December 31, 2025	$ 34,318
For the year ended December 31, 2026	34,285
For the year ended December 31, 2027	628,342
For the year ended December 31, 2028	10,269
For the year ended December 31, 2029	0
Total maturities on debt in the next five fiscal years	$ 707,214

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Restructuring and Related Activities

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities

In 2022, the Company initiated a global cost and optimization program to improve its cost structure and drive a more profitable and productive organization. As of December 31, 2024, the program included restructuring and associated severance costs to reduce headcount by approximately 200 positions globally. These actions are expected to be substantially complete in the first half of 2025.

Employee separation benefits vary depending on local regulations within certain foreign countries and include severance and other benefits. The exact timing to complete, and final costs associated with, all actions will depend on a number of factors and are subject to change. In addition to the global cost and optimization program described above, the Company continues to take actions to optimize its facilities’ footprint. Restructuring costs incurred during the years ended December 31, 2024, 2023 and 2022 include employee severance, asset related and facility closure costs, including non-cash asset write-offs, that are recorded in Restructuring and related charges, net in the Company’s Consolidated Statements of Operations.

Activity in the Company’s accrual for its restructuring program and facility closure actions for the years ended December 31, 2024 and 2023 are as follows:



Accrued restructuring as of December 31, 2022	$	5,483
Severance costs	7,162
Asset-related charges	426
Cash payments	(9,786)
Currency translation adjustments	65
Accrued restructuring as of December 31, 2023	3,350
Severance costs	3,259
Asset-related charges	3,271
Cash payments	(7,595)
Currency translation adjustments	12
Accrued restructuring as of December 31, 2024	$	2,297

In connection with the plans for closure of certain manufacturing and non-manufacturing facilities, the Company made available for sale certain facilities and properties. During the years ended December 31, 2024, 2023 and 2022, the Company completed the sale of certain facilities previously classified as held-for-sale for a net gain of $0.4 million, $1.4 million and $0.2 million, respectively, which is recorded in Other income (expense), net on the Consolidated Statements of Operations. As of December 31, 2024, the Company classified a property in the EMEA segment with an aggregate book value of approximately $0.7 million as held-for-sale and recorded it in Prepaid expenses and other current assets on the Company’s Consolidated Balance Sheets. The Company expects to complete the sale of this property over the next twelve months. The Company will continue to evaluate its existing facilities and footprint, which may include making other facilities or property available for sale in the future.

Other Non-Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2024

Other Liabilities Disclosure [Abstract]

Other Noncurrent Liabilities

Other non-current liabilities as of December 31, 2024 and 2023 were as follows:


	2024		2023
Uncertain tax positions, including interest and penalties (See Note 10)	$	17,257	$	19,630
Non-current income taxes payable (See Note 10)	—		4,695
Environmental reserves (See Note 25)	2,941		3,874
Deferred and other long-term compensation	2,833		2,871
Acquisition-related earnout liability (See Note 2)	—		475

Other	1,414		260
Total other non-current liabilities	$	24,445	$	31,805

Basis of Presentation and Significant Accounting Policies - Hyperinflationary accounting (Details) - Argentina - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Concentration Risk [Line Items]
Inflationary percentage	100.00%
Amount recognized in income due to inflationary accounting	$ 0.8	$ 7.8	$ 1.6
Assets Total \| Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	1.00%
Sales Revenue Net \| Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	2.00%

Restructuring and Related Activities (Tables)

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

Activity in the Company’s accrual for its restructuring program and facility closure actions for the years ended December 31, 2024 and 2023 are as follows:



Accrued restructuring as of December 31, 2022	$	5,483
Severance costs	7,162
Asset-related charges	426
Cash payments	(9,786)
Currency translation adjustments	65
Accrued restructuring as of December 31, 2023	3,350
Severance costs	3,259
Asset-related charges	3,271
Cash payments	(7,595)
Currency translation adjustments	12
Accrued restructuring as of December 31, 2024	$	2,297

Income Taxes - Net Deferred Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Non-current deferred tax assets	$ 9,216	$ 10,737
Non-current deferred tax liabilities	138,828	146,957
Total net deferred tax liabilities	$ (129,612)	$ (136,220)

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Examination [Line Items]
Transition tax	$ 15,500
Foreign earnings liability, installments paid	11,600
Foreign earnings liability, remaining installments	3,900
Deferred tax liabilities	129,612	$ 136,220
Undistributed earnings	359,800
Deferred tax assets, state net operating losses	6,100
Deferred tax assets, state net operating losses based on reversal of deferred tax liabilities	1,400
Partial valuation allowance against state net operating losses	4,700
Additional valuation allowance for state deferred tax assets	600
Deferred tax assets, foreign net operating loss carryforwards	18,500
Deferred tax assets, foreign net operating loss carryforwards, partial valuation	2,800
Deferred tax assets, foreign net operating loss carryforwards	15,700
Additional valuation allowance for other foreign deferred tax assets	$ 2,800
Foreign tax credits carryforward period	10 years
Deferred tax assets, foreign tax credit carryforward expected to expire	$ 19,200	13,000
Operating loss carryforward, valuation allowance	17,200	12,500
Unrecognized tax benefits	13,949	15,659	$ 16,340	$ 22,464
Accrued penalties	800	1,100
Accrued interest	2,600	2,900
Unrecognized tax benefit, penalties expense	200	400	1,700
Unrecognized tax benefit, interest expense	200	100	300
Decrease in unrecognized tax benefits is reasonably possible	3,600
Unrecognized tax benefits if recognized	$ 8,300	$ 10,100	$ 10,200
Expiration In Year Five
Income Tax Examination [Line Items]
State net operating losses carryforward period	5 years
Expiration In Twenty Years
Income Tax Examination [Line Items]
State net operating losses carryforward period	20 years
Foreign Tax Jurisdiction
Income Tax Examination [Line Items]
Deferred tax liabilities	$ 8,400

Basis of Presentation and Significant Accounting Policies - Property, Plant and Equipment (Details)	Dec. 31, 2024
Building and Building Improvements \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	10 years
Building and Building Improvements \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	33 years
Machinery and Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	4 years
Machinery and Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	10 years

Equity (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Payment Arrangement, Cost by Plan

The Company recognized the following share-based compensation expense in its Consolidated Statements of Operations for the years ended December 31, 2024, 2023 and 2022:


	2024		2023		2022
Stock options	$	215	$	1,039	$	1,774
Non-vested stock awards and restricted stock units	9,996		9,305		6,679

Director stock ownership plan	138		86		63
Performance stock units	4,642		4,175		3,150
Before-tax share-based compensation expense	$	14,991	$	14,605	$	11,666
Income tax benefit	(2,222)		(2,742)		(2,007)
After-tax share-based compensation expense	$	12,769	$	11,863	$	9,659

Schedule of Share-based Payment Arrangement, Option, Activity

Stock option activity under all plans is as follows:


	Number of Options	Weighted Average Exercise Price (per option)		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Options outstanding as of January 1, 2024	62,853	$	214.40

Options exercised	2,263	145.95
Options forfeited	1,978	152.65
Options outstanding as of December 31, 2024	58,612	$	219.13	3.3	$	—
Options expected to vest after December 31, 2024	7,033	$	178.29	4.2	$	—
Options exercisable as of December 31, 2024	51,579	$	194.91	3.1	$	—

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The Company used a Black-Scholes option pricing model to determine the fair value of stock option awards and used the assumptions set forth in the table below:


	July 2022 Grant		March 2022 Grant
Number of stock options granted	4,837		27,077
Dividend yield	0.79	%	0.80	%
Expected volatility	40.47	%	38.60	%
Risk-free interest rate	2.87	%	2.07	%
Expected term (years)	4.0		4.0

Schedule of Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

Activity of restricted stock awards granted under the Company’s LTIP plan is shown below:


	Number of Shares	Weighted Average Grant Date Fair Value (per share)
Non-vested restricted stock awards, December 31, 2023	77,757	$	187.24
Granted	872	200.48
Vested	41,555	197.32
Forfeited	7,323	172.65
Non-vested restricted stock awards, December 31, 2024	29,751	$	177.12

Schedule of Share-based Payment Arrangement, Restricted Stock Unit, Activity

Activity of restricted stock units granted under the Company’s LTIP plan is shown below:


	Number of Units	Weighted Average Grant Date Fair Value (per unit)
Non-vested restricted stock units, December 31, 2023	16,202	$	180.14
Granted	71,866	187.74
Vested	10,267	192.13
Forfeited	9,171	195.22
Non-vested restricted stock units, December 31, 2024	68,630	$	182.90

Schedule of Share-Based Payment Award, Restricted Stock Unit, Valuation Assumptions

The fair value of RSUs subject to a performance modifier is valued using a Monte Carlo simulation on the grant date and used the following assumptions set below:


	December 2024 Grant
Risk-free interest rate	4.21	%
Dividend yield	0.00%
Expected term (years)	3.0

Schedule of Activity of Non-Vested Performance Stock Units

Activity of performance stock units granted under the Company’s LTIP plan is shown below:


	Number of Units	Weighted Average Grant Date Fair Value (per unit)
Non-vested performance stock units, December 31, 2023	51,491	$	212.85
Granted	42,485	217.12
Vested	—	—
Forfeited	38,283	212.26
Non-vested performance stock units, December 31, 2024	55,693	$	216.51

Schedule of Monte Carlo option pricing model and the assumptions

The grant-date fair value of the PSUs valued using a Monte Carlo simulation included the following assumptions set forth in the table below:


	March 2024 Grant		March 2023 Grant		March 2022 Grant

Risk-free interest rate	4.55	%	3.85	%	2.11	%
Dividend yield	0.91	%	0.96	%	0.93	%
Expected term (years)	3.0		3.0		3.0

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2024	Feb. 19, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 2,337,846,765
Entity Common Stock, Shares Outstanding		17,671,654
Documents Incorporated by Reference	Portions of the Registrant’s definitive Proxy Statement relating to the 2025 Annual Meeting of Shareholders are incorporated by reference into Part III.
Entity Central Index Key	0000081362
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant and equipment as of December 31, 2024 and 2023 were as follows:


	2024		2023
Land	$	25,143	$	26,110
Building and improvements	149,783		147,135
Machinery and equipment	272,188		263,999
Construction in progress	35,919		16,175
Property, plant and equipment, at cost	483,033		453,419
Less: accumulated depreciation	(253,501)		(245,608)
Total property, plant and equipment, net	$	229,532	$	207,811

As of December 31, 2024, PP&E includes $1.0 million of finance lease assets and future minimum lease payments. See Note 6, Leases, for additional information.

Basis of Presentation and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation: The accompanying consolidated financial statements were prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and include the accounts of Quaker Houghton and its controlled subsidiaries.
Principles of consolidation	Principles of consolidation: We consolidate all entities we control, which generally applies to entities in which we own a majority of the voting interests. Intercompany transactions and balances are eliminated in consolidation. For consolidated subsidiaries in which the Company’s ownership is less than 100%, the outside shareholders’ interests are reflected as non-controlling interests within the consolidated financial statements. The Company is not the primary beneficiary of any variable interest entities (“VIEs”) and therefore the Company’s consolidated financial statements do not include the accounts of any VIEs.
Equity method investments	Equity method investments: The Company applies the equity method of accounting to investments in which the Company has significant influence but does not control the operating and financial decisions of the investee. This generally applies when the Company’s ownership interest in common stock of the investee is between 20% and 50%. Such investments are presented in “Investments in associated companies” on the Consolidated Balance Sheets. We initially record our investment at cost and subsequently adjust the investment to recognize our share of net earnings and losses and distributions received. The Company’s share of net income or losses in these investments in associated companies is included in the Consolidated Statements of Operations. The Company reviews these investments for impairments when events or changes in circumstances indicate that the carrying amount of the investment may be other-than-temporarily impaired.
Consolidation, variable interest entity
Accounting estimates	Accounting estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from such estimates.
Foreign currency	Foreign currency: Since we do business in many foreign countries, fluctuations in currency exchange rates affect our financial position and result of operations. In most of our non-U.S. operations, the local currency is considered the functional currency. The assets and liabilities of non-U.S. subsidiaries and associated companies are translated into U.S. dollars at the respective rates of exchange prevailing at the end of the year. Income and expense accounts are translated at average exchange rates prevailing during the year. Translation adjustments resulting from this process are recorded directly in equity as accumulated other comprehensive income (“AOCI”). Some transactions are made in currencies different from an entity’s functional currency. Gains and losses from remeasurement of these foreign currency transactions, and the impact of related hedges, are generally reflected in “Other income (expense), net” in the consolidated income statements as they occur.
Segments	Segments: The Company’s operating segments, which are consistent with its reportable segments, reflect the structure of the Company’s internal organization, the method by which the Company’s resources are allocated and the manner by which the Chief Operating Decision Maker assesses the Company’s performance. 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 and 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 15 for additional information.
Reclassifications	Reclassifications: Certain information has been reclassified to conform to the current year presentation.
Business combinations	Business combinations: The Company accounts for business combinations under the acquisition method of accounting. This method requires the recording of acquired assets, including separately identifiable intangible assets, and assumed liabilities at their respective acquisition date estimated fair values. Any excess of the purchase price over the estimated fair value of the identifiable net assets acquired is recorded as goodwill. The determination of the estimated fair value of assets acquired and liabilities assumed requires significant estimates and assumptions. Based on the assessment of additional information during the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the estimated fair value of assets acquired and liabilities assumed.
Revenue recognition	Revenue recognition: The Company recognizes revenue in an amount that reflects the consideration to which the Company expects to be entitled in exchange for goods or services transferred to its customers. To do this, the Company applies a five-step model, which requires the Company to: (i) identify the contract with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when, or as, the Company satisfies the performance obligation. The Company identifies a contract with a customer when a sales agreement indicates approval and commitment of the parties; identifies the rights of the parties; identifies the payment terms; has commercial substance; and it is probable that the Company will collect the consideration to which it will be entitled in exchange for the goods or services that will be transferred to the customer. The Company identifies a performance obligation in a contract for each promised good or service that is separately identifiable from other obligations in the contract and for which the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer. The Company determines the transaction price as the amount of consideration it expects to be entitled to in exchange for fulfilling the performance obligations, including the effects of any variable consideration, significant financing elements, amounts payable to the customer or noncash consideration. For any contracts that have more than one performance obligation, the Company allocates the transaction price to each performance obligation in an amount that depicts the amount of consideration to which the Company expects to be entitled in exchange for satisfying each performance obligation. In accordance with the last step of the five-step model, the Company recognizes revenue when, or as, it satisfies the performance obligation in a contract by transferring control of a promised good or providing the service to the customer. The Company typically satisfies its performance obligations and recognizes revenue at a point in time for product sales, generally when products are shipped or delivered to the customer, depending on the terms underlying each arrangement. In circumstances where the Company’s products are on consignment, revenue is generally recognized upon usage or consumption by the customer. For any FluidcareTM or other services provided by the Company to the customer, the Company typically satisfies its performance obligations and recognizes revenue over time, as the promised services are performed. The Company uses input methods to recognize revenue over time related to these services, including labor costs and time incurred. The Company believes that these input methods represent the most indicative measure of the FluidcareTM or other service work performed by the Company. The Company does not have standard payment terms for all customers; however, the Company’s general payment terms require customers to pay for products or services once the performance obligation is satisfied. The Company does not have significant financing arrangements with its customers. In addition, the Company expenses costs to obtain a contract as incurred when the expected period of benefit, and therefore the amortization period, is one year or less. In addition, the Company excludes from the measurement of the transaction price all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the entity from a customer, including sales, use, value added, excise and various other taxes. Lastly, the Company has elected to account for shipping and handling costs incurred after the customer has obtained control of a good as a fulfillment cost, rather than an additional promised service. The Company does not have significant amounts of variable consideration in its contracts with customers. The Company records license fees received from third-parties in Other income (expense), net, in its Consolidated Statements of Operations, which generally include sales-based royalties in exchange for the license of intellectual property. These license fees are recognized in accordance with their agreed-upon terms and when performance obligations are satisfied, which is generally when the third party has a subsequent sale. The Company recognizes a contract asset or receivable on its Consolidated Balance Sheet when the Company performs a service or transfers a good in advance of receiving consideration. A receivable is the Company’s right to consideration that is unconditional and only the passage of time is required before payment of that consideration is due. A contract asset is the Company’s right to consideration in exchange for goods or services that the Company has transferred to a customer. 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 Company’s obligation to transfer goods or services to a customer for which the Company has received consideration, or a specified amount of consideration is due, from the customer.
Right of use lease assets and lease liabilities	Right-of-use lease assets and lease liabilities: The Company determines if an arrangement is a lease at its inception. This determination generally depends on whether the arrangement conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control of an underlying asset is conveyed if the Company obtains the right to direct the use of the asset, and obtains substantially all of the economic benefits from its use. Lease expense for variable leases and short-term leases is recognized when the obligation is incurred. The lease term for all of the Company’s leases includes the non-cancellable period of the lease, adjusted for any renewal and termination options that the Company is reasonably certain it will exercise. Operating leases are included in right-of-use lease assets, other accrued liabilities and long-term lease liabilities on the Consolidated Balance Sheet. Right-of-use lease assets and liabilities are recognized on the lease commencement date based on the present value of lease payments over the respective lease term. Operating lease expense is recognized on a straight-line basis over the lease term. The Company uses the stated borrowing rate for a lease when readily determinable. When a stated borrowing rate is not available in a lease agreement, the Company uses its incremental borrowing rate at the lease commencement date to determine the present value of its lease payments. In determining the incremental borrowing rate, the Company considers information including fully secured borrowing rates readily available to the Company and its subsidiaries. The Company includes finance leases in property, plant and equipment (“PP&E”), current portion of long-term debt and long-term debt on the Consolidated Balance Sheet.
Restructuring activities	Restructuring activities: Restructuring programs consist of employee severance, rationalization of manufacturing or other facilities and other related items. To account for such programs, the Company recognizes a liability for the cost associated with an exit or disposal activity, when the liability is incurred, is estimable, and payment is probable.
Share-based compensation	Share-based compensation: The Company has long-term incentive programs (“LTIP”) for key employees which provides for the granting of stock options, restricted stock units (“RSU”), restricted stock awards (“RSAs”), and performance-based stock awards (“PSUs”). Share-based awards may also be granted under other equity compensation plans. Share-based compensation cost for awards under LTIP and equity compensation plans is measured at the grant date based on the fair value and is recognized as expense over the requisite service period, which is the vesting period. The fair value of stock options granted is determined using the Black-Scholes option valuation model on the grant date. The fair value of time-based RSAs, time-based RSUs, and performance-based PSUs, for which the performance measure is return on investment capital (“ROIC”), is based on the trading price of the Company’s common stock on the date of grant. The fair value of market-based PSUs, for which the performance measure is total shareholder return (“TSR”), is determined using a Monte Carlo simulation model. Prior to 2023, the Company elected to assume an estimated forfeiture rate of 13% based on historical experience. Beginning in 2023, the Company elected to account for forfeitures on new awards as they occur.
Research and development costs	Research and development costs: Research and development costs are expensed as incurred and are included in selling, general and administrative expenses (“SG&A”).
Hyper-inflationary accounting	Hyper-inflationary accounting: Economies that have a cumulative three-year rate of inflation exceeding 100% are considered hyper-inflationary. A legal entity that operates within an economy deemed to be hyper-inflationary is required to remeasure its monetary assets and liabilities to the applicable published exchange rates and record the associated gains or losses resulting from the remeasurement directly to the Consolidated Statements of Operations.
Income taxes and uncertain tax positions	Income taxes and uncertain tax positions: The provision for income taxes is determined using the asset and liability approach of accounting for income taxes. Under this approach, deferred taxes represent the future tax consequences expected to occur when the reported amounts of assets and liabilities are recovered or paid. The provision for income taxes represents income taxes paid or payable for the current year and the change in deferred taxes during the year. Deferred taxes result from differences between the financial and tax bases of the Company’s assets and liabilities and are adjusted for changes in tax rates and tax laws when changes are enacted. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. The Company accounts for uncertainty in income taxes by applying the recognition threshold and measurement attributes for financial statement recognition and measurement of tax positions taken or expected to be taken on a tax return. The Company determines whether the benefits of tax positions are probable or more likely than not sustained upon audit based upon the technical merits of the tax position. For tax positions that are determined to be more likely than not sustained upon audit, the Company recognizes the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement in the financial statements. For tax positions that are not determined to be more likely than not sustained upon audit, the Company does not recognize any portion of the benefit in the financial statements. Additionally, the Company monitors and adjusts for derecognition, classification, and penalties and interest in interim periods, with appropriate disclosure and transition thereto. Also, the amount of interest expense and income related to uncertain tax positions is computed by applying the applicable statutory rate of interest to the difference between the tax position recognized, including timing differences, and the amount previously taken or expected to be taken in a tax return. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. Finally, when applicable, the Company nets its liability for unrecognized tax benefits against deferred tax assets related to net operating losses or other tax credit carryforwards that would apply if the uncertain tax position were settled for the presumed amount at the balance sheet date. Pursuant to the Tax Cuts and Jobs Act (“U.S. Tax Reform”), specifically the one-time tax on deemed repatriation (the “Transition Tax”), the Company has provided for U.S. income tax on its undistributed earnings of non-U.S. subsidiaries. However, the Company is subject to and will incur other taxes, such as withholding taxes and dividend distribution taxes, if these undistributed earnings were ultimately remitted to the U.S. The Company currently intends to reinvest its future undistributed earnings of non-U.S. subsidiaries to support working capital needs and certain other growth initiatives of those subsidiaries. However, in certain cases the Company has and may in the future change its indefinite reinvestment assertion for any or all of these undistributed earnings. In this case, the Company would estimate and record a tax liability and corresponding tax expense for the amount of non-U.S. income taxes it would incur to ultimately remit these earnings to the U.S.
Earnings per share	Earnings per share: In the Company’s earnings per share calculation, non-vested stock awards with rights to non-forfeitable dividends are included as part of the basic weighted average share calculation under the two-class method.
Comprehensive income (loss)	Comprehensive income (loss): The Company presents Other comprehensive (loss) income in its Statements of Comprehensive Income (Loss). The Company discloses significant amounts reclassified from each component of AOCI, the related tax amounts and the income statement line items affected by such reclassifications.
Cash and cash equivalents	Cash and cash equivalents: The Company invests temporary and excess funds in money market securities and financial instruments having maturities within 90 days. The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The Company has not experienced losses from the aforementioned investments.
Accounts receivable and allowance for credit losses	Accounts receivable and allowance for credit losses: Trade accounts receivable subject the Company to credit risk. Trade accounts receivable are recorded at the invoiced amount and generally do not bear interest. The Company recognizes an allowance for credit losses, which represents the portion of the receivable that the Company does not expect to collect over its contractual life, considering past events and reasonable and supportable forecasts of future economic conditions. The Company’s allowance for credit losses on its trade accounts receivable is based on specific collectability facts and circumstances, the aging of outstanding receivables, and the associated collection risk the Company estimates for certain past due aging categories, and also, the general risk to all outstanding accounts receivable based on historical amounts determined to be uncollectible. The Company does not have any off-balance-sheet credit exposure related to its customers.
Inventories	Inventories: Inventories are valued at the lower of cost or net realizable value, and are valued using the first-in, first-out method.
Long-lived assets	Long-lived assets: PP&E is stated at gross cost, less accumulated depreciation. Depreciation is computed using the straight-line method on an individual asset basis over the following estimated useful lives: buildings and improvements, 10 to 33 years (for finance leases, the remaining term of the lease); and machinery and equipment, 4 to 10 years (for financing leases, the remaining term of the lease). The carrying values of long-lived assets are evaluated whenever changes in circumstances or current events indicate the carrying amount of such assets may not be recoverable. An estimate of undiscounted cash flows produced by the asset, or the appropriate group of assets, is compared with the carrying value to determine whether an impairment exists. If necessary, the Company recognizes an impairment loss for the difference between the carrying amount of the assets and their estimated fair value. Fair value is based on current and anticipated future cash flows. Upon sale or other disposition of long-lived assets, the applicable asset cost and accumulated depreciation are removed from the accounts and the net amount, less proceeds from disposals, is recorded in the Consolidated Statements of Operations. Expenditures for improvements that increase the estimated useful life or capacity of the assets are capitalized, whereas expenditures for repairs and maintenance are expensed when incurred.
Capitalized software	Capitalized software: The Company capitalizes certain costs in connection with developing or obtaining software for internal use. These costs are amortized over the expected useful life of the software- generally 3 to 5 years once the assets are ready for their intended use. The Company capitalizes costs incurred with the implementation of a cloud computing arrangement that is a service contract, consistent with its policy for software for internal use. The capitalized costs are reflected in "Other non-current assets" on its Consolidated Balance Sheets and expensed over the term of the related hosting arrangement.
Goodwill and other intangible assets	Goodwill and other intangible assets: The Company records goodwill, definite-lived intangible assets and indefinite-lived intangible assets at fair value at the date of acquisition. Goodwill and indefinite-lived intangible assets are not amortized but tested for impairment at least annually. These tests will be performed more frequently if triggering events indicate potential impairment. In completing a quantitative goodwill impairment test, the Company compares a reporting unit’s fair value, primarily based on future discounted cash flows, to its carrying value in order to determine if an impairment charge is warranted. Definite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives, generally for periods ranging from 3 to 24 years. The Company continually evaluates the reasonableness of the useful lives of these assets, consistent with the discussion of long-lived assets, above.
Fair value measurements	Fair value measurements: Fair value is defined as an exit price, or the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. See Notes 20, 23 and 24 for additional information. The following briefly describes those three levels: •Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. •Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly, for sustainability the full term of the asset or liability. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. •Level 3: Unobservable inputs for the asset or liability that reflect the reporting entity's own assumptions about the assumptions that market participants would use in pricing the asset or liability.
Pension and other postretirement benefits	Pension and other postretirement benefits: The Company maintains various noncontributory retirement plans, covering a portion of its employees in the U.S. and certain other countries, including the Netherlands, the United Kingdom (“U.K.”), Mexico, Sweden, Germany and France. The plans of the remaining non-U.S. subsidiaries are, for the most part, either fully insured or integrated with the local governments’ plans. The Company recognizes the funded status of defined benefit pension and other postretirement plans on its Consolidated Balance Sheets and also, recognizes as a component of AOCI, net of tax, the gains or losses and prior service costs that arise during the period but are not recognized as components of net periodic benefit cost. In addition, the Company recognizes a settlement charge in its Consolidated Statements of Operations when certain events occur, including plan termination or the settlement of certain plan liabilities. A settlement charge represents the immediate recognition into expense of a portion of the unrecognized loss within AOCI on the balance sheet in proportion to the share of the projected benefit obligation that was settled. The measurement date for the Company’s postretirement benefits plan is December 31. The Company’s global pension investment policies are designed to ensure that pension assets are invested in a manner consistent with meeting the future benefit obligations of the pension plans and maintaining compliance with various laws and regulations including the Employee Retirement Income Security Act of 1974. The Company establishes strategic asset allocation percentage targets and benchmarks for significant asset classes with the aim of achieving a prudent balance between return and risk. The Company’s investment horizon is generally long term, and, accordingly, the target asset allocations encompass a long-term perspective of capital markets, expected risk and return and perceived future economic conditions while also considering the profile of plan liabilities. To the extent feasible, the short-term investment portfolio is managed to match the short-term obligations, the intermediate portfolio duration is matched to reduce the risk of volatility in intermediate plan distributions, and the total return portfolio is managed to maximize the long-term real growth of plan assets. The critical investment principles of diversification, assessment of risk and targeting the optimal expected returns for given levels of risk are applied. The Company’s investment guidelines prohibit the use of securities such as letter stock and other unregistered securities, commodities or commodity contracts, short sales, margin transactions, private placements (unless specifically addressed by addendum), or any derivatives, options or futures for the purpose of portfolio leveraging. The target asset allocation is reviewed periodically and is determined based on a long-term projection of capital market outcomes, inflation rates, fixed income yields, returns, volatilities and correlation relationships. The interaction between plan assets and benefit obligations is periodically studied to assist in establishing such strategic asset allocation targets. Asset performance is monitored with an overall expectation that plan assets will meet or exceed benchmark performance over rolling five-year periods. The Company’s pension committee, as authorized by the Company’s Board, has discretion to manage the assets within established asset allocation ranges approved by senior management of the Company. See Note 20, Pension and Other Postretirement Benefits, for additional information.
Derivatives	Derivatives: The Company uses interest rate swap agreements to manage risk, including exposure to variability in interest payments associated with its variable rate debt. 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. The Company uses foreign exchange forward contracts to economically hedge the impact of variability in exchange rates on certain assets and/or liabilities denominated in foreign currencies. Forward contracts are marked-to-market at each reporting date, with changes in the fair value of the underlying instruments, as well as gains and losses on the hedged foreign currency transactions, recognized in earnings in Other income (expense), net. The fair value of forward contracts are determined from sources independent of the Company, including the financial institutions which are party to the derivative instruments. See Note 24, Hedging Activities, for additional information
Environmental liabilities and expenditures	Environmental liabilities and expenditures: Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimable. If there is a range of estimated liability and no amount in that range is considered more probable than another, then the Company records the lowest amount in the range. Environmental costs and remediation costs are capitalized if the costs extend the life, increase the capacity or improve safety or efficiency of the property from the date acquired or constructed, and/or mitigate or prevent contamination in the future.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted	Recently Adopted Accounting Standards The Company adopted Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures in this Report and will adopt the interim reportable segment disclosure requirements in the first quarter of 2025. This ASU expands reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, defined as those expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included in the reported measure of segment profit or loss. The Company disclosed that the CODM, which is the Chief Executive Officer, assesses segment performance and makes decisions about allocating resources to its operating segments using segment operating earnings. Based on the Company’s assessment, the Company determined that product costs are significant segment expenses that are regularly provided to the CODM and included in segment operating earnings. The Company disclosed product costs and other operating expenses included in segment operating earnings by reportable segment. See Note 4, Business Segments, for additional information. Recently Issued Accounting Standards Not Yet Adopted The FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures in December 2023. This ASU requires public business entities to disclose additional information in specified categories with respect to the reconciliation of the effective tax rate to the statutory rate (the “rate reconciliation”) for federal, state, and foreign income taxes, requiring greater detail about individual reconciling items in the rate reconciliation to the extent the impact of those items exceeds a specified threshold. The ASU also requires public business entities to disclose income taxes paid disaggregated by federal, state, and foreign taxes. Further disaggregation is also required in jurisdictions where income taxes paid exceeds a certain threshold. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024. The Company is currently evaluating the disclosure requirements of this standard and the impact on its consolidated financial statements. The FASB issued ASU 2024-03, Income Statement- Reporting Comprehensive Income- Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses in November 2024. This ASU requires public business entities (“PBEs”) to disclose, in interim and annual reporting periods, additional information about certain expenses in the notes to the financial statements, including disclosing the amounts of purchases of inventory, employee compensation, depreciation, and intangible asset amortization in each relevant expense caption. It also requires PBEs to disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively and to disclose the total amount of selling expenses, and in the annual reporting periods, an entity’s definition of selling expenses. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, with early adoption permitted. The Company is currently evaluating the disclosure requirements of this standard and the impact on its consolidated financial statements.

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table shows the reclassifications from and resulting balances of AOCI for the years ended December 31, 2024, 2023 and 2022:


	Currency Translation Adjustments		Defined Benefit Pension Plans		Unrealized Gain (Loss) in Available-for- Sale Securities		Derivative Instruments		Total
Balance as of December 31, 2021	$	(49,843)	$	(13,172)	$	397	$	(1,372)	$	(63,990)
Other comprehensive income (loss) before reclassifications	(82,318)		10,789		(3,276)		—		(74,805)
Amounts reclassified from AOCI	—		479		895		1,372		2,746
Related tax amounts	—		(2,691)		500		—		(2,191)
Balance as of December 31, 2022	(132,161)		(4,595)		(1,484)		—		(138,240)
Other comprehensive income (loss) before reclassifications	16,744		(7,702)		1,753		1,828		12,623
Amounts reclassified from AOCI	—		(464)		547		—		83
Related tax amounts	—		2,023		(483)		(421)		1,119
Balance as of December 31, 2023	(115,417)		(10,738)		333		1,407		(124,415)
Other comprehensive income (loss) before reclassifications	(77,424)		250		(44)		(207)		(77,425)
Amounts reclassified from AOCI			265		(14)		—		251
Related tax amounts	—		(90)		12		48		(30)
Balance as of December 31, 2024	$	(192,841)	$	(10,313)	$	287	$	1,248	$	(201,619)

Inventories (Tables)

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventories as of December 31, 2024 and 2023 were as follows:


	2024		2023
Raw materials and supplies	$	112,457	$	119,047
Work in process, finished goods and reserves	115,015		114,810
Total inventories	$	227,472	$	233,857

Debt

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Debt

Debt as of December 31, 2024 and 2023 includes the following:


	As of December 31, 2024			As of December 31, 2023
	Interest Rate	Outstanding Balance		Interest Rate	Outstanding Balance
Credit Facilities:
Revolver	4.00%	48,820		5.13%	30,904
U.S. Term Loan	5.62%	508,863		6.71%	561,250
EURO Term Loan	4.00%	138,767		5.13%	152,366
Industrial development bonds	5.26%	10,000		5.26%	10,000
Bank lines of credit and other debt obligations	Various	1,817		Various	1,092
Total debt		$	708,267		$	755,612
Less: debt issuance costs		(1,099)			(1,545)
Less: short-term and current portion of long-term debts		(37,554)			(23,444)
Total long-term debt		$	669,614		$	730,623

Credit facilities

During June 2022, the Company, and its wholly owned subsidiary, Quaker Houghton B.V., as borrowers, Bank of America, N.A., as administrative agent, U.S. Dollar swing line lender and letter of credit issuer, Bank of America Europe Designated Active Company, as Euro Swing Line Lender, certain guarantors and other lenders entered into an amendment to its primary credit facility (the “ Original Credit Facility”). The amended credit facility (“Credit Facility”) established (A) a new $150.0 million Euro equivalent senior secured term loan (the “Euro Term Loan”), (B) a new $600.0 million senior secured term loan (the “U.S. Term Loan”), and (C) a new $500.0 million senior secured revolving credit facility (the “Revolver”), each maturing in June 2027. The Company has the right to increase the amount of the Credit Facility by an aggregate amount not to exceed the greater of $300.0 million or 100% of Consolidated EBITDA, subject to certain conditions including the agreement to provide financing by any lender providing such increase. In addition, the Credit Facility also:

(i) eliminated the requirement that material foreign subsidiaries must guaranty the Original Euro Term Loan;

(ii) replaced the U.S. Dollar borrowings reference rate from LIBOR to SOFR;

(iii) extended the maturity date of the Original Credit Facility from August 2024 to June 2027; and

(iv) effected other less significant changes to the Original Credit Facility.

The Company used the proceeds of the Credit Facility to repay all outstanding loans under the Original Credit Facility, unpaid accrued interest and fees on the closing date under the Original Credit Facility and certain expenses and fees. U.S. Dollar-denominated borrowings under the Credit Facility bear interest, at the Company’s election, at the base rate or term SOFR plus an applicable rate ranging from 1.00% to 1.75% for term SOFR loans and from 0.00% to 0.75% for base rate loans, depending upon the Company’s consolidated net leverage ratio. Loans based on term SOFR also include a spread adjustment equal to 0.10% per annum. Borrowings under the Credit Facility denominated in currencies other than U.S. Dollars bear interest at the alternative currency term rate plus the applicable rate ranging from 1.00% to 1.75%.

The Credit Facility contains affirmative and negative covenants, financial covenants and events of default, including without limitation restrictions on (a) the incurrence of additional indebtedness; (b) investments in and acquisitions of other businesses, lines of business and divisions; (c) the making of dividends or capital stock purchases; and (d) dispositions of assets. Dividends and share repurchases are permitted in annual amounts not exceeding the greater of $75 million annually and 25% of Consolidated EBITDA if there is no default. If the consolidated net leverage ratio is less than 2.50 to 1.00, then the Company is no longer subject to restricted payments.

Financial covenants contained in the Credit Facility include a consolidated interest coverage ratio test and a consolidated net leverage ratio test. The consolidated net leverage ratio at the end of a quarter may not be greater than 4.00 to 1.00, subject to a permitted increase during a four-quarter period after certain acquisitions. The Company has the option of replacing the consolidated net leverage ratio test with a consolidated senior net leverage ratio test if the Company issues certain types of unsecured notes, subject to certain limitations. Events of default in the Credit Facility include without limitation defaults for non-payment, breach of representations and warranties, non-performance of covenants, cross-defaults, insolvency, and a change of control in certain circumstances. The occurrence of an event of default under the Credit Facility could result in all loans and other obligations becoming immediately due and payable and the Credit Facility being terminated. As of December 31, 2024 and December 31, 2023, the Company was in compliance with all of the Credit Facility covenants.

The weighted average variable interest rate incurred on the outstanding borrowings under the Credit Facility during the twelve months ended December 31, 2024 was approximately 6.1%. As of December 31, 2024, the interest rate on the outstanding borrowings under the Credit Facility was approximately 5.2%. As part of the Credit Facility, the Company is 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 $448.7 million, which is net of bank letters of credit of approximately $2.4 million, as of December 31, 2024.

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 into an average fixed rate obligation of 3.64% plus an applicable margin as provided in the Credit Facility based on the Company’s consolidated net leverage ratio. As of December 31, 2024, the aggregate interest rate on the swaps, including the fixed base rate plus the applicable margin, was 4.9%. See Note 24, Hedging Activities, for additional information.

In connection with executing the Credit Facility, the Company recorded a loss on extinguishment of debt of approximately $6.8 million in Other income (expense), net on the Consolidated Statement of Operations during the year ended December 31, 2022. The loss on extinguishment of debt included the write-off of certain previously unamortized deferred financing costs as well as a portion of the third-party and creditor debt issuance costs incurred to execute the Credit Facility. The Company capitalized third-party and credit debt issuance costs attributed to the Euro Term Loan, U.S. Term Loan and Revolver in connection to the amended Credit Facility during the second quarter of 2022. Capitalized costs attributed to the Euro Term Loan and U.S. Term Loan are recorded as a direct offset to Long-term debt on the Consolidated Balance Sheets. Capitalized costs attributed to the Revolver are recorded within Other assets on the Consolidated Balance Sheets. These capitalized costs will collectively be amortized into Interest expense over the five year term of the Credit Facility. As of December 31, 2024 and 2023, the Company had $1.1 million and $1.5 million, respectively, of debt issuance costs recorded as a reduction of Long-term debt and $2.4 million and $3.3 million, respectively, of debt issuance costs recorded within Other assets.

Industrial development bonds

As of December 31, 2024 and 2023, 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 finance lease obligations. Total unused capacity under these arrangements as of December 31, 2024, was approximately $32.9 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 December 31, 2024 were approximately $6 million.

The Company incurred the following debt related expenses included within Interest expense, net, in the Consolidated Statements of Operations for the years ended December 31, 2024, 2023 and 2022:



	2024		2023		2022
Interest expense	$	43,223	$	53,582	$	33,691
Amortization of debt issuance costs	1,413		1,413		2,942
Total	$	44,636	$	54,995	$	36,633

Based on the variable interest rates associated with the Credit Facility, as of December 31, 2024 and 2023, the amounts at which the Company’s total debt were recorded are not materially different from their fair market value.

As of December 31, 2024, annual principal maturities on long-term borrowings, including the current portion, are as follows:


For the year ended December 31, 2025	$	34,318
For the year ended December 31, 2026	34,285
For the year ended December 31, 2027	628,342
For the year ended December 31, 2028	10,269
For the year ended December 31, 2029	—
Total maturities on debt in the next five fiscal years	707,214

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Earnings Per Share - Basic (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Net income (loss) attributable to Quaker Chemical Corporation	$ 116,644	$ 112,748	$ (15,931)
Less: (income) loss allocated to participating securities	(375)	(555)	92
Net income (loss) available to common shareholders	$ 116,269	$ 112,193	$ (15,839)
Basic weighted average common shares outstanding (in shares)	17,850,462	17,892,461	17,841,487
Basic earnings (loss) per common share (in dollars per share)	$ 6.51	$ 6.27	$ (0.89)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

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+ Details

Other Income (Expense), net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Income and Expenses [Abstract]
Foreign currency transaction losses	$ 800	$ 7,800	$ 1,600
Business interruption insurance proceeds	$ 1,000	$ 0	$ 0

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the early 1990s, the Company identified certain soil and groundwater contamination at AC Products, Inc. (“ACP”), a wholly owned subsidiary . In voluntary coordination with the Santa Ana California Regional Water Quality Board, ACP has been remediating the contamination, the principal contaminant of which is perchloroethylene (“PERC”). In 2004, the Orange County Water District (“OCWD”) filed a civil complaint against ACP and other parties seeking to recover compensatory and other damages related to the investigation and remediation of the contamination in the groundwater. Pursuant to a settlement agreement with OCWD, ACP agreed, among other things, to operate the two groundwater treatment systems to hydraulically contain groundwater contamination emanating from ACP’s site until the concentrations of PERC released by ACP fell below the current Federal maximum contaminant level for four consecutive quarterly sampling events. In 2014, ACP ceased operation at one of its two groundwater treatment systems, as it had met the above condition for closure. In 2020, the Santa Ana Regional Water Quality Control Board asked that ACP conduct some additional indoor and outdoor soil vapor testing on and near the ACP site to confirm that ACP continues to meet the applicable local standards. ACP began to perform such testing program work in 2022, and an additional round of testing is expected to commence in 2025. As of December 31, 2024, ACP believes it is close to meeting the conditions for closure of the remaining groundwater treatment system but continues to operate this system while in discussions with the relevant authorities. As of December 31, 2024, the Company believes that the range of potential-known liabilities associated with the balance of the ACP water remediation program is approximately $0.1 million to $1.0 million. The low and high ends of the range are based on the length of operation of the treatment system as determined by groundwater modeling. Costs of operation include the operation and maintenance of the extraction well, groundwater monitoring, program management, and soil vapor testing. The Company’s Sao Paulo, Brazil site was required under Brazilian environmental, health and safety regulations to perform an environmental assessment as part of a permit renewal process. Initial investigations identified soil and ground water contamination in select areas of the site. The site has conducted a multi-year soil and groundwater investigation and corresponding risk assessments based on the result of the investigations. In 2017, the site had to submit a new 5-year permit renewal request and was asked to complete additional investigations to further delineate the site based on review of the technical data by the local regulatory agency, Companhia Ambiental do Estado de São Paulo (“CETESB”). Based on review of the updated investigation data, CETESB issued a Technical Opinion regarding the investigation and remedial actions taken to date. The site developed an action plan and submitted it to CETESB in 2018 based on CETESB requirements. The site intervention plan primarily requires the site, amongst other actions, to conduct periodic monitoring for methane in soil vapors, source zone delineation, groundwater plume delineation, bedrock aquifer assessment, update the human health risk assessment, develop a current site conceptual model and conduct a remedial feasibility study and provide a revised intervention plan. In 2020, the site submitted a report on the activities completed including the revised site conceptual model and results of the remedial feasibility study and recommended remedial strategy for the site. Additionally, the Company is party to environmental matters related to certain domestic and foreign properties. These environmental matters primarily require the Company to perform ongoing monitoring and maintenance at each of the applicable sites. During the year ended December 31, 2024, there have been no significant changes to the facts or circumstances of these matters. Based on the Company’s current obligations, historical costs incurred, and projected costs to be incurred over the next 24 years, the Company estimated the present value range of costs for all of these environmental matters, on a discounted basis, to be between approximately $3.5 million and $6.0 million as of December 31, 2024, for which $3.6 million is accrued within other accrued liabilities and other non-current liabilities on the Company’s Consolidated Balance Sheets as of December 31, 2024. Comparatively, as of December 31, 2023, the Company had $5.1 million accrued for these matters. Other environmental matters include participation in certain payments in connection with four currently active environmental consent orders related to certain hazardous waste cleanup activities under the U.S. Federal Superfund statute. The Company has been designated a potentially responsible party (“PRP”) by the Environmental Protection Agency along with other PRPs depending on the site, and has other obligations to perform cleanup activities at certain other foreign subsidiaries. These environmental matters primarily require the Company to perform long-term monitoring as well as operating and maintenance at each of the applicable sites. The Company believes that it has made adequate accruals for costs associated with other environmental matters of which it is aware. Approximately $0.6 million and $0.2 million were accrued as of December 31, 2024 and 2023, respectively, to provide for such anticipated future environmental assessments and remediation costs. The Company previously disclosed in its 2023 Form 10-K that one of its North American production facilities experienced an electrical fire in 2021 that resulted in property damage and the temporary shutdown of production. The Company and its insurance carrier reviewed the impact of the electrical fire on the production facility’s operations as it relates to a potential business interruption insurance claim. In July 2024, the Company and its insurance carrier settled this claim for $1.0 million. The Company is party to other litigation which management currently believes will not have a material adverse effect on the Company’s results of operations, cash flows or financial condition. In addition, the Company has an immaterial amount of contractual purchase obligations.

Pension and Other Post Retirement Benefits - Change In Benefit Obligation and Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Change in benefit obligation
Benefits paid	$ (12,896)	$ (12,117)
Change in plan assets
Fair value of plan assets at beginning of year	196,354	189,535
Actual return on plan assets	(1,654)	9,114
Employer contributions	5,794	4,333
Benefits paid	(12,896)	(12,117)
Plan expenses and premiums paid	(36)	0
Currency translation adjustment	(5,051)	5,489
Fair value of plan assets at end of year	182,511	196,354	$ 189,535
Amounts recognized in the balance sheet consist of:
Non-current assets	2,245	3,879
Current liabilities	(2,328)	(2,208)
Non-current liabilities	(23,783)	(29,457)
Pension Benefits
Change in benefit obligation
Gross benefit obligation at beginning of year	223,842	209,640
Service cost	417	427	512
Interest cost	9,489	9,932	5,224
Effect of plan amendments	0	(15)
Curtailment (gain) loss	(19)	(213)
Benefits paid	(12,896)	(12,117)
Plan expenses and premiums paid	(36)	0
Actuarial (gain) loss	(9,434)	9,955
Translation differences and other	(6,199)	6,233
Gross benefit obligation at end of year	205,164	223,842	209,640
Change in plan assets
Benefits paid	(12,896)	(12,117)
Net benefit obligation recognized	(22,653)	(27,488)
Amounts recognized in the balance sheet consist of:
Non-current assets	2,245	2,834
Current liabilities	(2,158)	(2,030)
Non-current liabilities	(22,740)	(28,292)
Net benefit obligation recognized	(22,653)	(27,488)
Prior service cost	(265)	(353)
Accumulated (loss) gain	(15,870)	(16,869)
AOCI	(16,135)	(17,222)
Cumulative employer contributions in excess of or (below) net periodic benefit cost	(6,518)	(10,266)
Other Postretirement Benefits
Change in benefit obligation
Curtailment (gain) loss	0
Foreign
Change in benefit obligation
Benefits paid	(6,377)	(6,086)
Change in plan assets
Fair value of plan assets at beginning of year	135,387	129,944
Actual return on plan assets	(3,003)	4,474
Employer contributions	2,043	1,566
Benefits paid	(6,377)	(6,086)
Plan expenses and premiums paid	(36)	0
Currency translation adjustment	(5,051)	5,489
Fair value of plan assets at end of year	122,963	135,387	129,944
Foreign \| Pension Benefits
Change in benefit obligation
Gross benefit obligation at beginning of year	144,779	130,554
Service cost	417	399	465
Interest cost	5,817	6,083	3,079
Effect of plan amendments	0	0
Curtailment (gain) loss	(19)	(213)
Benefits paid	(6,377)	(6,086)
Plan expenses and premiums paid	(36)	0
Actuarial (gain) loss	(6,589)	7,809
Translation differences and other	(6,198)	6,233
Gross benefit obligation at end of year	131,794	144,779	130,554
Change in plan assets
Benefits paid	(6,377)	(6,086)
Net benefit obligation recognized	(8,831)	(9,392)
Amounts recognized in the balance sheet consist of:
Non-current assets	2,245	2,834
Current liabilities	(400)	(273)
Non-current liabilities	(10,676)	(11,953)
Net benefit obligation recognized	(8,831)	(9,392)
Prior service cost	(265)	(353)
Accumulated (loss) gain	(19,775)	(19,117)
AOCI	(20,040)	(19,470)
Cumulative employer contributions in excess of or (below) net periodic benefit cost	11,209	10,078
U.S.
Change in benefit obligation
Benefits paid	(6,519)	(6,031)
Change in plan assets
Fair value of plan assets at beginning of year	60,967	59,591
Actual return on plan assets	1,349	4,640
Employer contributions	3,751	2,767
Benefits paid	(6,519)	(6,031)
Plan expenses and premiums paid	0	0
Currency translation adjustment	0	0
Fair value of plan assets at end of year	59,548	60,967	59,591
U.S. \| Pension Benefits
Change in benefit obligation
Gross benefit obligation at beginning of year	79,063	79,086
Service cost	0	28	47
Interest cost	3,672	3,849	2,145
Effect of plan amendments	0	(15)
Curtailment (gain) loss	0	0
Benefits paid	(6,519)	(6,031)
Plan expenses and premiums paid	0	0
Actuarial (gain) loss	(2,845)	2,146
Translation differences and other	(1)	0
Gross benefit obligation at end of year	73,370	79,063	79,086
Change in plan assets
Benefits paid	(6,519)	(6,031)
Net benefit obligation recognized	(13,822)	(18,096)
Amounts recognized in the balance sheet consist of:
Non-current assets	0	0
Current liabilities	(1,758)	(1,757)
Non-current liabilities	(12,064)	(16,339)
Net benefit obligation recognized	(13,822)	(18,096)
Prior service cost	0	0
Accumulated (loss) gain	3,905	2,248
AOCI	3,905	2,248
Cumulative employer contributions in excess of or (below) net periodic benefit cost	(17,727)	(20,344)
U.S. \| Other Postretirement Benefits
Change in benefit obligation
Gross benefit obligation at beginning of year	1,343	1,606
Service cost	0	0	0
Interest cost	61	69	37
Effect of plan amendments	0	0
Curtailment (gain) loss		0
Benefits paid	(156)	(182)
Plan expenses and premiums paid	0	0
Actuarial (gain) loss	(61)	(150)
Translation differences and other	26	0
Gross benefit obligation at end of year	1,213	1,343	1,606
Change in plan assets
Fair value of plan assets at beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	156	182
Benefits paid	(156)	(182)
Plan expenses and premiums paid	0	0
Currency translation adjustment	0	0
Fair value of plan assets at end of year	0	0	$ 0
Net benefit obligation recognized	(1,213)	(1,343)
Amounts recognized in the balance sheet consist of:
Non-current assets	0	0
Current liabilities	(170)	(178)
Non-current liabilities	(1,043)	(1,165)
Net benefit obligation recognized	(1,213)	(1,343)
Prior service cost	0	0
Accumulated (loss) gain	1,199	1,241
AOCI	1,199	1,241
Cumulative employer contributions in excess of or (below) net periodic benefit cost	$ (2,412)	$ (2,584)

Equity - Expense Table (Details) - USD ($) $ in Thousands	12 Months Ended
Equity - Expense Table (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Before-tax share-based compensation expense	$ 14,991	$ 14,605	$ 11,666
Income tax benefit	(2,222)	(2,742)	(2,007)
After-tax share-based compensation expense	12,769	11,863	9,659
Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Before-tax share-based compensation expense	215	1,039	1,774
Non-vested stock awards and restricted stock units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Before-tax share-based compensation expense	9,996	9,305	6,679
Director stock ownership plan
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Before-tax share-based compensation expense	138	86	63
Performance stock units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Before-tax share-based compensation expense	$ 4,642	$ 4,175	$ 3,150

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 (loss)	(15,842)			(15,931)		89
Amounts reported in other comprehensive (loss) income	(74,300)				(74,250)	(50)
Dividends declared	(30,483)			(30,483)
Share issuance and equity-based compensation plans, net	11,288	53	11,235
Ending 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 (loss)	112,872			112,748		124
Amounts reported in other comprehensive (loss) income	13,806				13,825	(19)
Dividends declared	(32,027)			(32,027)
Distributions to noncontrolling affiliate shareholders	(169)					(169)
Share issuance and equity-based compensation plans, net	11,855	42	11,813
Ending balance at Dec. 31, 2023	1,384,922	17,992	940,101	550,641	(124,415)	603
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	116,729			116,644		85
Amounts reported in other comprehensive (loss) income	(77,276)				(77,204)	(72)
Dividends declared	(33,554)			(33,554)
Shares purchased under share repurchase program, net of excise taxes	(49,659)	(313)	(49,346)
Share issuance and equity-based compensation plans, net	13,021	(5)	13,026
Ending balance at Dec. 31, 2024	$ 1,354,183	$ 17,674	$ 903,781	$ 633,731	$ (201,619)	$ 616

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
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- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Goodwill and Other Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 995,271	$ 1,009,067
Accumulated Amortization	353,486	305,527
Net Book Value	641,785	703,540
Customer lists and rights to sell
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	829,255	841,562
Accumulated Amortization	285,450	243,872
Net Book Value	543,805	597,690
Trademarks, formulations and product technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	160,257	161,613
Accumulated Amortization	62,373	55,879
Net Book Value	97,884	105,734
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,759	5,892
Accumulated Amortization	5,663	5,776
Net Book Value	$ 96	$ 116

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
For the year ended December 31, 2025	$ 12,753
For the year ended December 31, 2026	9,006
For the year ended December 31, 2027	5,112
For the year ended December 31, 2028	2,974
For the year ended December 31, 2029	1,724
For the year ended December 31, 2030 and beyond	4,827
Total lease payments	36,396
Less: imputed interest	(5,749)
Present value of lease liabilities	30,647	$ 34,902
Total lease commitment	$ 79,700

Fair Value Measures	12 Months Ended
Fair Value Measures	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measures	Fair Value Measures Fair value is defined as an exit price, or the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels as follows: • Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2 - Inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the asset or liability. • Level 3 - Inputs that are unobservable for the asset or liability based on our own assumptions about the assumptions market participants would use in pricing the asset or liability. Refer to Note 24, Hedging Activities, for a description of the Company’s derivative instruments including the valuation techniques used to determine fair value and support for their classification within Level 2 of the fair value hierarchy. The Company values its company-owned life insurance policies at fair value based on quotes for like instruments with similar credit ratings and terms. During June 2023, the Company surrendered and liquidated $1.9 million of these life insurance policies. As a result, the Company owns an immaterial remaining amount of company-owned life insurance policies as of the year ended December 31, 2024. The Company did not own any Level 3 investments as of December 31, 2024 and 2023, respectively. Items Measured at Fair Value on Nonrecurring Basis The Company is also required to measure certain items, including intangible assets and goodwill, at fair value on a nonrecurring basis. For non-observable market values, the Company determines fair value using acceptable valuation principles, including the excess earnings, relief from royalty, lost profit, or cost methods. The determination of the estimated fair values of intangible assets and goodwill requires management’s judgment and involves the use of significant estimates and assumptions, including revenue growth rates, gross margin levels, operating expenses, the weighted average cost of capital (“WACC”), and royalty rates, among other items. Significant unobservable inputs used to estimate the fair values as of the Company’s October 1, 2024 goodwill impairment assessment included WACCs of 10.0%, 10.5% and 10.0% for the Company’s Americas, EMEA and Asia/Pacific reporting units, respectively. See Note 15, Goodwill and Other Intangible Assets, for additional information.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Equity

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Equity

Share-based Compensation

The Company recognized the following share-based compensation expense in its Consolidated Statements of Operations for the years ended December 31, 2024, 2023 and 2022:


	2024		2023		2022
Stock options	$	215	$	1,039	$	1,774
Non-vested stock awards and restricted stock units	9,996		9,305		6,679

Director stock ownership plan	138		86		63
Performance stock units	4,642		4,175		3,150
Before-tax share-based compensation expense	$	14,991	$	14,605	$	11,666
Income tax benefit	(2,222)		(2,742)		(2,007)
After-tax share-based compensation expense	$	12,769	$	11,863	$	9,659

Before-tax share-based compensation expense is primarily included in SG&A in the Consolidated Statements of Operations. No cost was capitalized during the years ended December 31, 2024, 2023 and 2022.

Stock Options

Stock options granted under the LTIP program are subject to time vesting and generally become exercisable within three years after the date of the grant for a period of time determined by the Company, but not to exceed seven years from the date of grant. The Company has not granted stock options since fiscal year 2022. Share-based compensation for stock options is recognized using the graded vesting method over the vesting periods.

Stock option activity under all plans is as follows:


	Number of Options	Weighted Average Exercise Price (per option)		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Options outstanding as of January 1, 2024	62,853	$	214.40

Options exercised	2,263	145.95
Options forfeited	1,978	152.65
Options outstanding as of December 31, 2024	58,612	$	219.13	3.3	$	—
Options expected to vest after December 31, 2024	7,033	$	178.29	4.2	$	—
Options exercisable as of December 31, 2024	51,579	$	194.91	3.1	$	—

The total intrinsic value of stock options exercised during the years ended December 31, 2024, 2023 and 2022 was approximately $0.1 million, $3.6 million and $0.8 million, respectively. The intrinsic value is calculated as the difference between the current market price of the underlying security and the strike price of a related option.

As of December 31, 2024, unrecognized compensation expense related to stock options was an inconsequential amount to be recognized over a weighted average period of 0.2 years.

The Company used a Black-Scholes option pricing model to determine the fair value of stock option awards and used the assumptions set forth in the table below:


	July 2022 Grant		March 2022 Grant
Number of stock options granted	4,837		27,077
Dividend yield	0.79	%	0.80	%
Expected volatility	40.47	%	38.60	%
Risk-free interest rate	2.87	%	2.07	%
Expected term (years)	4.0		4.0

Restricted Stock Awards

RSAs granted under the LTIP program are subject to time vesting generally over a one to three-year period. In addition, as part of the Company’s Annual Incentive Plan, non-vested shares may be issued to key employees, which generally would vest over a period of two-to five-years. Share-based compensation for RSAs is recognized using the graded vesting method over the vesting periods.

Activity of restricted stock awards granted under the Company’s LTIP plan is shown below:


	Number of Shares	Weighted Average Grant Date Fair Value (per share)
Non-vested restricted stock awards, December 31, 2023	77,757	$	187.24
Granted	872	200.48
Vested	41,555	197.32
Forfeited	7,323	172.65
Non-vested restricted stock awards, December 31, 2024	29,751	$	177.12

The fair value of the non-vested stock is based on the trading price of the Company’s common stock on the date of grant. As of December 31, 2024, unrecognized compensation expense related to these awards was $1.1 million, to be recognized over a weighted average remaining period of 0.8 years.

Restricted Stock Units

As a component of its LTIP, the Company granted RSUs subject to time vesting generally over a one to three year period. Share-based compensation for time-based RSUs is recognized on a graded basis over the vesting periods.

Additionally, during the fourth quarter of 2024, the Company granted 9,820 time-based RSUs subject to a performance modifier based on the Company’s relative TSR compared to the S&P 1500 Chemicals Index that vest on the third anniversary of the grant. The target number of RSUs that vest may range from 75% to 125% of the target number of RSUs depending on the achievement of the relative TSR performance criteria measured at the end of the three-year performance period. Share-based compensation expense for these awards is recognized on a straight-line basis over the vesting period.

Activity of restricted stock units granted under the Company’s LTIP plan is shown below:


	Number of Units	Weighted Average Grant Date Fair Value (per unit)
Non-vested restricted stock units, December 31, 2023	16,202	$	180.14
Granted	71,866	187.74
Vested	10,267	192.13
Forfeited	9,171	195.22
Non-vested restricted stock units, December 31, 2024	68,630	$	182.90

The fair value of the time-based non-vested RSUs is based on the trading price of the Company’s common stock on the date of grant. The fair value of RSUs subject to a performance modifier is valued using a Monte Carlo simulation on the grant date and used the following assumptions set below:


	December 2024 Grant
Risk-free interest rate	4.21	%
Dividend yield	0.00%
Expected term (years)	3.0

As of December 31, 2024, unrecognized compensation expense related to RSUs was $6.9 million, to be recognized over a weighted average remaining period of 1.5 years.

Performance Stock Units

The Company grants PSUs as a component of its LTIP and other equity compensation plans. The number of 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 TSR relative to the performance of a selected peer 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 issuances of the shares. Share-based compensation for PSUs subject to time vesting is recognized on a straight-line basis over the vesting period.

As mentioned above, a portion of the Company’s PSUs are subject to achievement of the Company’s TSR relative to the performance of a selected peer group. For PSUs granted prior to 2024, the Company’s peer group was the S&P Midcap 400 Materials group. For PSUs subject to relative TSR performance granted in 2024, the Company made an election to change peer groups to the S&P 1500 Chemicals Group

Activity of performance stock units granted under the Company’s LTIP plan is shown below:


	Number of Units	Weighted Average Grant Date Fair Value (per unit)
Non-vested performance stock units, December 31, 2023	51,491	$	212.85
Granted	42,485	217.12
Vested	—	—
Forfeited	38,283	212.26
Non-vested performance stock units, December 31, 2024	55,693	$	216.51

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 grant date. The grant-date fair value of the PSUs valued using a Monte Carlo simulation included the following assumptions set forth in the table below:


	March 2024 Grant		March 2023 Grant		March 2022 Grant

Risk-free interest rate	4.55	%	3.85	%	2.11	%
Dividend yield	0.91	%	0.96	%	0.93	%
Expected term (years)	3.0		3.0		3.0

As of December 31, 2024, there was approximately $4.5 million of total unrecognized compensation cost related to PSUs which the Company expects to recognize over a weighted-average period of 1.7 years.

2023 Director Stock Ownership Plan

In March 2023, the Company adopted the 2023 Director Stock Ownership Plan (the “Plan”), to encourage the Directors to increase their individual investment in the Company, which was approved at the Company’s May 2023 shareholders’ meeting. The Plan authorizes the issuance of up to 75,000 shares of Quaker common stock in accordance with the terms of the Plan in payment of all or a portion of the annual cash retainer payable to each of the Company’s non-employee directors in 2023 and subsequent years during the term of the Plan. Under the Plan, each director who, on May 1 of the applicable calendar year, owns less than 500% of the annual cash retainer for the applicable calendar year, divided by the average of the closing price of a share of Quaker Common Stock as reported by the composite tape of the New York Stock Exchange for the previous calendar year (the “Threshold Amount”), is required to receive 75% of the annual cash retainer in Quaker common stock and 25% of the retainer in cash, unless the director elects to receive a greater percentage of Quaker common stock, up to 100% of the annual cash retainer for the applicable year. Each director who owns more than the Threshold Amount may elect to receive common stock in payment of a percentage (up to 100%) of the annual cash retainer. The annual retainer is approximately $0.1 million and the retainer payment date is June 1.

Common Stock and Preferred Stock

The Company has 30,000,000 shares of common stock authorized with a par value of $1.00, and 17,673,607 and 17,991,988 shares issued and outstanding as of December 31, 2024 and 2023, respectively. The change in shares issued and outstanding during 2024 was primarily related to 312,997 shares repurchased by the Company under the share repurchase program described below, 12,784 shares surrendered from employees in payment of the vesting of restricted stock awards or units, 7,294 shares forfeited by employees under equity compensation plans, offset by 14,694 share issuances relating to equity compensation plans.

The Company is authorized to issue 10,000,000 shares of preferred stock with $1.00 par value, subject to approval by the Board. The Board may designate one or more series of preferred stock and the number of shares, rights, preferences, and limitations of each series. As of December 31, 2024, no preferred stock had been issued.

Share Repurchase Program

On February 28, 2024, the Board approved a new share repurchase program (“2024 Share Repurchase Program”), authorizing the Company to repurchase up to an aggregate of $150 million of the Company’s outstanding common stock and replacing the prior share repurchase program, under which no repurchases were made in 2024. The 2024 Share Repurchase Program was effective immediately upon approval and has no expiration date. The number of shares to be repurchased and the timing of such transactions depend on a variety of factors, including market conditions. As of December 31, 2024, there was approximately $100.8 million of capacity remaining under the 2024 Share Repurchase Program. The Company repurchased 312,997 shares under the 2024 Share Repurchase Program for the year ended December 31, 2024. The Company did not repurchase any shares in 2024 under the prior repurchase program or for the years ended December 31, 2023 and 2022.

Under the 2024 Share Repurchase Program, the Company is authorized to repurchase shares through open market purchases, privately-negotiated transactions, accelerated share repurchases or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1 and under Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The Company currently expects to employ trading plans for the repurchase of shares pursuant to the 2024 Share Repurchase Program, which would permit the Company to purchase shares, at predetermined price targets, when it may otherwise be precluded from doing so. The repurchases may be suspended or discontinued at any time. The specific timing and amount of repurchases will vary based on available capital resources and other financial and operational performance, market conditions, securities law limitations, and other factors.

Other Income (Expense), net

12 Months Ended

Dec. 31, 2024

Other Income and Expenses [Abstract]

Other Income (Expense), net

Other income (expense), net for the years ended December 31, 2024, 2023 and 2022 are as follows:


	2024		2023		2022
Income from third party license fees	$	810	$	1,210	$	1,268
Foreign exchange losses, net	(1,783)		(14,785)		(9,399)
Gain on disposals of property, plant, equipment and other assets, net	810		1,307		168
Non-income tax refunds and other related credits (expense)	3,742		1,339		(1,613)
Pension and postretirement benefit (costs) income, non-service components	(1,827)		(2,033)		1,704
Loss on extinguishment of debt	—		—		(6,763)
Facility remediation recoveries, net	—		2,141		1,804
Business interruption insurance proceeds	1,000		—		—
Product liability claim costs, net	(2,040)		—		—
Earnout liability adjustment	400		—		—
Other non-operating income, net	242		149		224
Total other income (expense), net	$	1,354	$	(10,672)	$	(12,607)

Foreign exchange losses, net, during the years ended December 31, 2024, 2023 and 2022, include foreign currency transaction losses of approximately $0.8 million, $7.8 million and $1.6 million, respectively, related to hyper-inflationary accounting. See Note 1, Basis of Presentation and Significant Accounting Policies, for additional information.

Gain on disposals of property, plant, equipment and other assets, net, includes losses related to certain fixed asset disposals resulting from the property damage caused by flooding of the Company’s Conshohocken, Pennsylvania headquarters in 2022, as described in Note 25, Commitments and Contingencies. This caption also includes gains recognized in 2024, 2023 and 2022 for the sale of certain facilities previously classified as held-for-sale, as described in Note 7, Restructuring and Related Activities.

Business interruption insurance proceeds for the year ended December 31, 2024 reflects an insurance recovery of $1.0 million related to production losses due to an electrical fire in 2021 that resulted in temporary shutdown of production at one of the Company’s production facilities. See Note 25, Commitments and Contingencies, for additional discussion regarding the Company’s business interruption claims.

Product liability claim costs, net represents expense related to payments by the Company in connection with product liability disputes with customers, net of insurance recoveries during the year ended December 31, 2024.

Facility remediation recoveries, net, for the years ended December 31, 2023 and 2022 reflects insurance recoveries of costs for remediation and restoration of property damage. See Note 25, Commitments and Contingencies, for additional discussion regarding the Company’s insurance recoveries for facility remediation and property damage.

Loss on extinguishment of debt during the year ended December 31, 2022 includes the write-off of certain previously unamortized deferred financing costs as well as a portion of the third-party and creditor debt issuance costs incurred to execute an amendment to the Company’s primary credit facility. See Note 19, Debt, for additional information.

Hedging Activities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2024
Foreign currency forward contracts
Derivatives, Fair Value [Line Items]
Derivative term (in years)		1 month
Interest rate swaps
Derivatives, Fair Value [Line Items]
Derivative term (in years)	3 years
Derivative liability, notional amount	$ 300.0

- Definition

Nominal or face amount used to calculate payments on the derivative liability.

+ References + Details

Business Segments - Information of Company's Reportable Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net sales	$ 1,839,686	$ 1,953,313	$ 1,943,585
Product costs	930,161	1,025,391	1,110,062
Other operating expenses	443,404	438,617	427,688
Segment operating earnings	466,121	489,305	405,835
Operating Segments \| Americas
Segment Reporting Information [Line Items]
Net sales	882,131	977,095	946,516
Product costs	427,399	497,690	519,705
Other operating expenses	210,775	213,369	203,182
Segment operating earnings	243,957	266,036	223,629
Operating Segments \| EMEA
Segment Reporting Information [Line Items]
Net sales	536,435	571,347	562,508
Product costs	286,330	318,279	340,864
Other operating expenses	150,679	148,257	145,280
Segment operating earnings	99,426	104,811	76,364
Operating Segments \| Asia/Pacific
Segment Reporting Information [Line Items]
Net sales	421,120	404,871	434,561
Product costs	216,432	209,422	249,493
Other operating expenses	81,950	76,991	79,226
Segment operating earnings	$ 122,738	$ 118,458	$ 105,842

- Definition

+ References

+ Details

Basis of Presentation and Significant Accounting Policies - Derivatives (Details) - Interest rate swaps $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Derivative [Line Items]
Derivative liability, notional amount	$ 300.0
Derivative, term of contract	3 years

- Definition

Nominal or face amount used to calculate payments on the derivative liability.

+ References + Details

Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accrued Liabilities, Current [Abstract]
Non-income taxes	$ 25,455	$ 27,295
Short-term lease liabilities (See Note 6)	10,619	11,965
Selling expenses and freight accruals	10,716	7,789
Current income taxes payable (See Note 10)	12,772	14,835
Professional fees, legal, and acquisition-related accruals	5,340	5,577
Accrued interest (See Note 19)	1,289	2,630
Customer advances and sales return reserves	3,855	2,454
Accrued insurance	$ 6,041	$ 2,295
Environmental Loss Contingency, Current, Statement of Financial Position [Extensible Enumeration]	Total other accrued liabilities	Total other accrued liabilities
Accrued environmental reserves (See Note 25)	$ 1,235	$ 1,187
Earnout liability (See Note 2)	1,160	0
Accrued rent and facilities	1,129	1,104
Accrued non-pension benefits	$ 833	$ 581
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total other accrued liabilities	Total other accrued liabilities
Foreign currency forward contracts (See Note 24)	$ 67	$ 159
Other	157	12,444
Total other accrued liabilities	$ 80,668	$ 90,315

Business Segments - Narrative (Details)	3 Months Ended
Business Segments - Narrative (Details)	Mar. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	3

Pension and Other Postretirement Benefits - Net Periodic Benefit Cost and Changes in Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Net periodic benefit costs	$ (4,460)	$ (2,079)	$ (7,964)
Pension Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	417	427	512
Interest cost	9,489	9,932	5,224
Expected return on plan assets	(8,133)	(8,070)	(7,981)
Settlement gain			(71)
Curtailment (gain) loss	(19)	(198)	207
Actuarial gain amortization	505	410	981
Prior service credit amortization	26	34	10
Net periodic benefit costs	2,285	2,535	(1,118)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract]
Net gain arising during period	354	9,003	(10,563)
Settlement loss	(24)	(23)	(323)
Prior service cost	0	(15)	296
Actuarial loss	(481)	(480)	660
Curtailment recognition	(27)	(28)	(3)
Effect of exchange rates on amounts included in AOCI	(908)	560	(1,169)
Total recognized in other comprehensive loss (income)	(1,086)	9,017	(11,102)
Total recognized in net periodic benefit cost and other comprehensive loss (income)	1,200	11,552	(12,220)
Foreign \| Pension Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	417	399	465
Interest cost	5,817	6,083	3,079
Expected return on plan assets	(5,571)	(5,271)	(4,472)
Settlement gain			(71)
Curtailment (gain) loss	(19)	(213)	207
Actuarial gain amortization	481	388	658
Prior service credit amortization	27	28	3
Net periodic benefit costs	1,152	1,414	(131)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract]
Net gain arising during period	1,985	8,605	(7,008)
Settlement loss	0	0	0
Prior service cost	0	0	303
Actuarial loss	(481)	(388)	(587)
Curtailment recognition	(27)	(28)	(3)
Effect of exchange rates on amounts included in AOCI	(908)	560	(1,169)
Total recognized in other comprehensive loss (income)	569	8,749	(8,464)
Total recognized in net periodic benefit cost and other comprehensive loss (income)	1,721	10,163	(8,595)
U.S. \| Pension Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	0	28	47
Interest cost	3,672	3,849	2,145
Expected return on plan assets	(2,562)	(2,799)	(3,509)
Settlement gain			0
Curtailment (gain) loss	0	15	0
Actuarial gain amortization	24	22	323
Prior service credit amortization	(1)	6	7
Net periodic benefit costs	1,133	1,121	(987)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract]
Net gain arising during period	(1,631)	398	(3,555)
Settlement loss	(24)	(23)	(323)
Prior service cost	0	(15)	(7)
Actuarial loss	0	(92)	1,247
Curtailment recognition	0	0	0
Effect of exchange rates on amounts included in AOCI	0	0	0
Total recognized in other comprehensive loss (income)	(1,655)	268	(2,638)
Total recognized in net periodic benefit cost and other comprehensive loss (income)	(521)	1,389	(3,625)
U.S. \| Other Postretirement Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	0	0	0
Interest cost	61	69	37
Actuarial gain amortization	(102)	(128)	(79)
Prior service credit amortization	0	(16)	(32)
Net periodic benefit costs	(41)	(75)	(74)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract]
Net gain arising during period	(61)	(150)	(263)
Prior service cost	0	0	(2)
Prior service credit	0	16	32
Actuarial loss	102	127	79
Total recognized in other comprehensive loss (income)	41	(7)	(154)
Total recognized in net periodic benefit cost and other comprehensive loss (income)	$ 0	$ (82)	$ (228)

Accounts Receivable and Allowance for Credit Losses - Allowance For Doubtful Accounts Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	$ 13,302	$ 13,527	$ 12,334
Changes to Costs and Expenses	2,120	1,327	4,319
Write-Offs Charged to Allowance	(1,215)	(961)	(2,441)
Exchange Rate Changes and Other Adjustments	(620)	(591)	(685)
Balance at End of Period	$ 13,587	$ 13,302	$ 13,527

Accounts Receivable and Allowance for Credit Losses

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

Accounts Receivable and Allowance for Credit Losses

As of December 31, 2024 and 2023, the Company had gross trade accounts receivable totaling $413.7 million and $458.3 million, respectively. The following are changes in the allowance for credit losses during the years ended December 31, 2024, 2023 and 2022:


	Balance at Beginning of Period		Changes to Costs and Expenses		Write-Offs Charged to Allowance		Exchange Rate Changes and Other Adjustments		Balance at End of Period
Year ended December 31, 2024	$	13,302	$	2,120	$	(1,215)	$	(620)	$	13,587
Year ended December 31, 2023	$	13,527	$	1,327	$	(961)	$	(591)	$	13,302
Year ended December 31, 2022	$	12,334	$	4,319	$	(2,441)	$	(685)	$	13,527

Other Noncurrent Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Uncertain tax positions, including interest and penalties (See Note 10)	$ 17,257	$ 19,630
Non-current income taxes payable (See Note 10)	0	4,695
Environmental reserves (See Note 25)	2,941	3,874
Deferred and other long-term compensation	2,833	2,871
Acquisition-related earnout liability (See Note 2)	0	475
Other	1,414	260
Total other non-current liabilities	$ 24,445	$ 31,805

Net Sales and Revenue Recognition

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Net Sales and Revenue Recognition

Arrangements Resulting in Net Reporting

As part of the Company’s FluidcareTM 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 $75.5 million, $81.8 million and $83.8 million for the years ended December 31, 2024, 2023 and 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, automotive, aerospace, industrial and agricultural equipment, and durable goods. During the year ended December 31, 2024, the Company’s five largest customers (each composed of multiple subsidiaries or divisions with semiautonomous purchasing authority) accounted for approximately 12% 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 Consolidated Balance Sheets as of December 31, 2024 and 2023.

The Company had approximately $4.2 million and $4.5 million of deferred revenue as of December 31, 2024 and 2023, respectively. During the years ended December 31, 2024 and 2023, the Company satisfied materially all of the associated performance obligations and recognized into revenue the advance payments received and recorded as of December 31, 2023 and 2022, respectively.

Disaggregated Revenue

The Company sells its industrial process fluids, specialty chemicals and 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 segments, and in most cases, approximately proportionate to the level of total sales in each segment.

The following tables present disaggregated information regarding the Company’s net sales, first by major product lines that represent more than 10% of the Company’s consolidated net sales for the years ended December 31, 2024, 2023 and 2022, and followed then by a disaggregation of the Company’s net sales by segment and customer industry for the years ended December 31, 2024, 2023 and 2022.


Major Product Line	2024		2023		2022
Metal removal fluids	22.4	%	23.6	%	22.9	%
Rolling lubricants	20.5	%	19.5	%	20.8	%
Hydraulic fluids	14.2	%	14.1	%	14.1	%


	Net sales for the year ending December 31, 2024
	Americas		EMEA		Asia/Pacific		Consolidated Total
Customer Industries
Metals	$	258,818	$	135,373	$	207,324	$	601,515
Metalworking and other	623,313		401,062		213,796		1,238,171
	$	882,131	$	536,435	$	421,120	$	1,839,686


	Net sales for the year ending December 31, 2023
	Americas		EMEA		Asia/Pacific		Consolidated Total
Customer Industries
Metals	$	268,174	$	136,979	$	195,578	$	600,731
Metalworking and other	708,921		434,368		209,293		1,352,582
	$	977,095	$	571,347	$	404,871	$	1,953,313


	Net sales for the year ending December 31, 2022
	Americas		EMEA		Asia/Pacific		Consolidated Total
Customer Industries
Metals	$	252,513	$	137,767	$	214,377	$	604,657
Metalworking and other	694,003		424,741		220,184		1,338,928
	$	946,516	$	562,508	$	434,561	$	1,943,585

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease expense	$ 15,096	$ 14,981	$ 15,171
Short-term lease expense	807	760	816
Operating cash flows from operating leases	14,923	16,020	19,215
Leased right-of-use assets obtained in exchange for new operating lease liabilities	$ 9,792	$ 10,044	$ 23,356

Pension and Other Postretirement Benefits - Assumptions Used in Determining Benefit Obligations and Net Periodic Pension Costs (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract]
Health care cost trend rate for next year	7.05%	6.87%	5.60%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.00%	4.00%	4.00%
Year that the rate reaches the ultimate trend rate	2049	2048	2047
U.S. \| Pension Benefits
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate	5.49%	4.94%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	4.94%	5.21%	2.67%
Expected long-term return on plan assets	5.50%	5.50%	5.75%
U.S. \| Other Postretirement Benefits
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate	5.34%	4.87%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	4.87%	5.15%	2.45%
Foreign \| Pension Benefits
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate	4.64%	4.35%
Rate of compensation increase	3.33%	3.27%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	4.33%	4.77%	3.97%
Expected long-term return on plan assets	4.20%	4.03%	2.26%
Rate of compensation increase	3.26%	3.38%	3.21%

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant and equipment as of December 31, 2024 and 2023 were as follows:


	2024		2023
Land	$	25,143	$	26,110
Building and improvements	149,783		147,135
Machinery and equipment	272,188		263,999
Construction in progress	35,919		16,175
Property, plant and equipment, at cost	483,033		453,419
Less: accumulated depreciation	(253,501)		(245,608)
Total property, plant and equipment, net	$	229,532	$	207,811

Net Sales and Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Concentration Risk [Line Items]
Revenue recognized under net reporting arrangements	$ 75.5	$ 81.8	$ 83.8
Deferred revenue	$ 4.2	$ 4.5
Product line as percentage of consolidated net sales	10.00%
Top Customer Concentration Risk \| Sales Revenue Net \| Top Five Customers Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	12.00%
Top Customer Concentration Risk \| Sales Revenue Net \| Largest Customer
Concentration Risk [Line Items]
Concentration risk, percentage	3.00%

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Commitments [Line Items]
Business interruption insurance proceeds	$ 1,000	$ 0	$ 0
Houghton environmental matters
Other Commitments [Line Items]
Loss contingency, estimate of possible loss	3,600	5,100
Asbestos claims
Other Commitments [Line Items]
Loss contingency accrual	600	$ 200
Minimum \| ACP
Other Commitments [Line Items]
Loss contingency, estimate of possible loss	100
Minimum \| Houghton environmental matters
Other Commitments [Line Items]
Loss contingency, estimate of possible loss	3,500
Maximum \| ACP
Other Commitments [Line Items]
Loss contingency, estimate of possible loss	1,000
Maximum \| Houghton environmental matters
Other Commitments [Line Items]
Loss contingency, estimate of possible loss	$ 6,000

Other Non-Current Assets (Tables)

12 Months Ended

Dec. 31, 2024

Other Assets [Abstract]

Schedule of Other Assets, Noncurrent

Other non-current assets as of December 31, 2024 and 2023 were as follows:


	2024		2023
Uncertain tax positions (See Note 10)	$	5,334	$	5,307
Pension assets (See Note 20)	2,245		3,879
Debt issuance costs (See Note 19)	2,374		3,340
Interest rate swap (See Note 24)	1,621		1,828
Long-term note receivable	925		1,014
Trust investment	1,566		601
Indemnification assets (See Notes 10 and 21)	405		430
Supplemental retirement income program (See Notes 20 and 23)	297		286
Other	2,593		2,085
Total other non-current assets	$	17,360	$	18,770

Business Segments

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Business Segments

The Company’s operating segments, which are consistent with its reportable segments, reflect the structure of the Company’s internal organization and the manner by which the Chief Operating Decision Maker, which is the Company’s Chief Executive Officer, allocates resources and assesses performance.

The Chief Operating Decision Maker evaluates performance for the Company’s operating segments based on segment operating earnings. Segment operating earnings for each of the Company’s reportable segments are comprised of the segment’s net sales less directly related product costs and other operating expenses. Operating expenses not directly attributable to the net sales of each respective segment, such as certain corporate and administrative costs, impairment charges, and restructuring charges, are not included in segment operating earnings. Other items not specifically identified with the Company’s reportable segments include Interest expense, net and Other income (expense), net.

The Chief Operating Decision Maker uses segment operating earnings to allocate resources for each segment predominantly in the annual budget and forecasting process. The Chief Operating Decision Maker considers budget-to-actual variances on a monthly basis for segment operating earnings when making decisions about allocating capital and personnel to the segments. The Chief Operating Decision Maker also uses segment operating earnings to assess the performance for each segment and in the compensation of certain employees.

The following table presents information about the performance of the Company’s reportable segments for the years ended December 31, 2024, 2023 and 2022.


	Americas		EMEA		Asia/Pacific		Totals
2024
Net sales	$	882,131	$	536,435	$	421,120	$	1,839,686
Significant segment expenses
Product costs (1)	427,399		286,330		216,432		930,161
Other operating expenses (2)	210,775		150,679		81,950		443,404
Segment operating earnings	$	243,957	$	99,426	$	122,738	$	466,121
2023
Net sales	$	977,095	$	571,347	$	404,871	$	1,953,313
Significant segment expenses
Product costs (1)	497,690		318,279		209,422		1,025,391
Other operating expenses (2)	213,369		148,257		76,991		438,617
Segment operating earnings	$	266,036	$	104,811	$	118,458	$	489,305
2022
Net sales	$	946,516	$	562,508	$	434,561	$	1,943,585
Significant segment expenses
Product costs (1)	519,705		340,864		249,493		1,110,062
Other operating expenses (2)	203,182		145,280		79,226		427,688
Segment operating earnings	$	223,629	$	76,364	$	105,842	$	405,835

(1) Product costs include the costs of raw materials and are recorded in Cost of goods sold in the Company’s Consolidated Statements of Operations.

(2) Other operating expenses include overhead costs of operating the Company’s production facilities and providing chemical management services to customers and direct SG&A costs.

The following table presents a reconciliation of the Company’s segment operating earnings to income before taxes and equity in net income of associated companies in the Company’s Consolidated Statements of Operations for the years ended December 31, 2024, 2023 and 2022.


	2024		2023		2022
Segment operating earnings	$	466,121	$	489,305	$	405,835
Restructuring and related charges, net	(6,530)		(7,588)		(3,163)
Impairment charges	—		—		(93,000)
Non-operating and administrative expenses	(203,956)		(206,398)		(196,620)
Depreciation of corporate assets and amortization	(60,929)		(60,824)		(60,748)
Operating income	$	194,706	$	214,495	$	52,304
Other income (expense), net	1,354		(10,672)		(12,607)
Interest expense, net	(41,002)		(50,699)		(32,579)
Income before taxes and equity in net income of associated companies	$	155,058	$	153,124	$	7,118

The following tables present information regarding the Company’s reportable segments’ assets and long-lived assets, excluding goodwill, as of December 31, 2024, 2023 and 2022. Management does not use goodwill by segment to evaluate performance or allocate resources.


Segment assets, excluding goodwill	2024		2023		2022
Americas	$	834,327	$	903,319	$	1,196,906
EMEA	650,045		703,338		583,861
Asia/Pacific	607,383		595,036		525,847
Total segment assets	$	2,091,755	$	2,201,693	$	2,306,614


Segment long-lived assets	2024		2023		2022
Americas	$	164,450	$	159,015	$	150,294
EMEA	80,668		83,488		87,279
Asia/Pacific	133,906		123,846		120,761
Total segment long-lived assets	$	379,024	$	366,349	$	358,334

The following tables present information regarding the Company’s reportable segments’ capital expenditures and depreciation for identifiable assets for the years ended December 31, 2024, 2023 and 2022:


Capital expenditures	2024		2023		2022
Americas	$	21,191	$	25,650	$	19,121
EMEA	11,989		7,561		6,065
Asia/Pacific	8,614		5,589		3,353
Total segment capital expenditures	$	41,794	$	38,800	$	28,539


Depreciation	2024		2023		2022
Americas	$	13,646	$	12,298	$	11,723
EMEA	7,641		7,321		6,608
Asia/Pacific	4,608		4,214		4,593
Total segment depreciation	$	25,895	$	23,833	$	22,924

The following tables summarize net sales and long-lived assets attributable to U.S. and non-U.S. domiciled operations for the years ended December 31, 2024, 2023 and 2022:


Net sales	2024		2023		2022
United States	$	637,755	$	718,742	$	696,885
China	230,622		231,331		265,418
Other foreign operations	971,309		1,003,240		981,282
Total net sales	$	1,839,686	$	1,953,313	$	1,943,585


Long-lived assets	2024		2023		2022
United States	$	217,687	$	217,834	$	201,960
Foreign operations	161,337		148,515		156,374
Total long-lived assets	$	379,024	$	366,349	$	358,334

Total net sales and operating earnings by segment include inter-segment sales which are generally recorded at cost-plus a specified fee or at a negotiated fixed price. All inter-segment transactions have been eliminated from each reportable segment’s net sales and earnings for all periods presented in the above tables. The following table summarizes inter-segment revenues for the years ended December 31, 2024, 2023 and 2022:


Inter-segment revenues	2024		2023		2022
Americas	$	9,300	$	9,005	$	11,552
EMEA	19,781		24,865		44,605
Asia/Pacific	6,397		2,651		957

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Basis of Presentation and Significant Accounting Policies - Income taxes and uncertain tax positions (Details)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Measurement of tax benefit, minimum likelihood of the largest amount being realized upon ultimate settlement	50.00%

Earnings Per Share - Antidilutive Shares (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Antidilutive shares (in shares)	32,353	10,621	28,222

Investments in Associated Companies

12 Months Ended

Dec. 31, 2024

Equity Method Investments and Joint Ventures [Abstract]

Investments in Associated Companies

As of December 31, 2024, 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, and held a 32% investment in and had significant influence over Primex, Ltd. (“Primex”).

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. The carrying amount of the Company’s equity investments as of December 31, 2023 was $101.2 million, which includes investments of $72.0 million in Houghton Korea; $22.1 million in Primex; $6.6 million in Nippon Japan; and $0.5 million in Kelko Panama.

Dividends and distributions received from associated companies by investment were $9.1 million, $4.2 million, and $3.0 million in the years ended December 31, 2024, 2023 and 2022.

The following table is a summary of equity income in associated companies by investment for the years ending December 31, 2024, 2023 and 2022:



	2024		2023		2022
Houghton Korea	$	6,795	$	11,442	$	2,644
Nippon Japan	925		1,492		323
Kelko Panama	321		309		425

Primex	2,930		2,090		(1,427)
Total equity in net income of associated companies	$	10,971	$	15,333	$	1,965

Investment in Associated Companies - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Investments in associated companies	$ 98,012	$ 101,151
Dividends and distributions received from associated companies by investments	$ 9,100	4,200	$ 3,000
Houghton Korea \| Asia/Pacific
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%
Investments in associated companies	$ 66,300	72,000
Nippon Japan \| Asia/Pacific
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%
Investments in associated companies	$ 6,300	6,600
Kelko Panama \| Americas
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%
Investments in associated companies	$ 500	500
Primex \| Americas
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	32.00%
Investments in associated companies	$ 24,900	$ 22,100

Net Sales and Revenue Recognition - Major Product Lines (Details) - Sales Revenue Net - Top Customer Concentration Risk	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Metal removal fluids
Segment Reporting Information [Line Items]
Concentration risk, percentage	22.40%	23.60%	22.90%
Rolling lubricants
Segment Reporting Information [Line Items]
Concentration risk, percentage	20.50%	19.50%	20.80%
Hydraulic fluids
Segment Reporting Information [Line Items]
Concentration risk, percentage	14.20%	14.10%	14.10%

Other Income (Expense), net - Schedule of Other Income (Expense), net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Income and Expenses [Abstract]
Income from third party license fees	$ 810	$ 1,210	$ 1,268
Foreign exchange losses, net	(1,783)	(14,785)	(9,399)
Gain on disposals of property, plant, equipment and other assets, net	810	1,307	168
Non-income tax refunds and other related credits (expense)	3,742	1,339	(1,613)
Pension and postretirement benefit (costs) income, non-service components	(1,827)	(2,033)	1,704
Loss on extinguishment of debt	0	0	(6,763)
Facility remediation recoveries, net	0	2,141	1,804
Business interruption insurance proceeds	1,000	0	0
Product liability claim costs, net	(2,040)	0	0
Earnout liability adjustment	400	0	0
Other non-operating income, net	242	149	224
Total other income (expense), net	$ 1,354	$ (10,672)	$ (12,607)

Basis of Presentation and Significant Accounting Policies - Capitalized software (Details) - Software Development - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Capitalized computer software, net	$ 2.9	$ 4.5
Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years

Other Non-Current Assets

12 Months Ended

Dec. 31, 2024

Other Assets [Abstract]

Other Non-Current Assets

Other non-current assets as of December 31, 2024 and 2023 were as follows:


	2024		2023
Uncertain tax positions (See Note 10)	$	5,334	$	5,307
Pension assets (See Note 20)	2,245		3,879
Debt issuance costs (See Note 19)	2,374		3,340
Interest rate swap (See Note 24)	1,621		1,828
Long-term note receivable	925		1,014
Trust investment	1,566		601
Indemnification assets (See Notes 10 and 21)	405		430
Supplemental retirement income program (See Notes 20 and 23)	297		286
Other	2,593		2,085
Total other non-current assets	$	17,360	$	18,770

As of December 31, 2024, two of the Company’s foreign pension plans’ fair value of plan assets exceeded its gross benefit obligation and were therefore over-funded, which is represented by the line Pension assets in the table above. As of December 31, 2023, one of the Company’s foreign pension plans’ fair value of plan assets exceeded its gross benefit obligation and was therefore over-funded. Approximately $1.0 million of payments related to the foreign pension plan’s have been made to escrow and are excluded from the plan’s net benefit obligation as of December 31, 2023. No such payments related to this plan has been made to escrow as of December 31, 2024. See Note 20 for additional information.

Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Schedule of Lease, Cost

The components of the Company’s lease expense for the years ended December 31, 2024, 2023 and 2022 are as follows:


	December 31, 2024		December 31, 2023		December 31, 2022
Operating lease expense	$	15,096	$	14,981	$	15,171
Short-term lease expense	807		760		816

Supplemental cash flow information related to the Company’s leases is as follows:


	December 31, 2024		December 31, 2023		December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	14,923	$	16,020	$	19,215

Non-cash lease liabilities activity
Leased right-of-use assets obtained in exchange for new operating lease liabilities	9,792		10,044		23,356

Supplemental balance sheet information related to the Company’s leases is as follows:


	December 31, 2024			December 31, 2023
Right-of-use lease assets	$	34,120		$	38,614

Other accrued liabilities	10,619			11,965
Long-term lease liabilities	20,028			22,937
Total operating lease liabilities	$	30,647		$	34,902

Weighted average remaining lease term (years)	5.0			5.1
Weighted average discount rate	5.63		%	4.91		%

Schedule of Lessee, Operating Lease, Liability, Maturity

Maturities of operating lease liabilities as of December 31, 2024 were as follows:



For the year ended December 31, 2025	$	12,753
For the year ended December 31, 2026	9,006
For the year ended December 31, 2027	5,112
For the year ended December 31, 2028	2,974
For the year ended December 31, 2029	1,724
For the year ended December 31, 2030 and beyond	4,827
Total lease payments	36,396
Less: imputed interest	(5,749)
Present value of lease liabilities (1)	$	30,647

(1) The $79.7 million of future lease commitments for the office and laboratory lease that is expected to commence in the third quarter of 2025 was not included in the lease liabilities balance as of December 31, 2024.

Net Sales and Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue


Major Product Line	2024		2023		2022
Metal removal fluids	22.4	%	23.6	%	22.9	%
Rolling lubricants	20.5	%	19.5	%	20.8	%
Hydraulic fluids	14.2	%	14.1	%	14.1	%


	Net sales for the year ending December 31, 2024
	Americas		EMEA		Asia/Pacific		Consolidated Total
Customer Industries
Metals	$	258,818	$	135,373	$	207,324	$	601,515
Metalworking and other	623,313		401,062		213,796		1,238,171
	$	882,131	$	536,435	$	421,120	$	1,839,686


	Net sales for the year ending December 31, 2023
	Americas		EMEA		Asia/Pacific		Consolidated Total
Customer Industries
Metals	$	268,174	$	136,979	$	195,578	$	600,731
Metalworking and other	708,921		434,368		209,293		1,352,582
	$	977,095	$	571,347	$	404,871	$	1,953,313


	Net sales for the year ending December 31, 2022
	Americas		EMEA		Asia/Pacific		Consolidated Total
Customer Industries
Metals	$	252,513	$	137,767	$	214,377	$	604,657
Metalworking and other	694,003		424,741		220,184		1,338,928
	$	946,516	$	562,508	$	434,561	$	1,943,585

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2024
Audit Information [Abstract]
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Philadelphia, Pennsylvania

Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Debt

Debt as of December 31, 2024 and 2023 includes the following:


	As of December 31, 2024			As of December 31, 2023
	Interest Rate	Outstanding Balance		Interest Rate	Outstanding Balance
Credit Facilities:
Revolver	4.00%	48,820		5.13%	30,904
U.S. Term Loan	5.62%	508,863		6.71%	561,250
EURO Term Loan	4.00%	138,767		5.13%	152,366
Industrial development bonds	5.26%	10,000		5.26%	10,000
Bank lines of credit and other debt obligations	Various	1,817		Various	1,092
Total debt		$	708,267		$	755,612
Less: debt issuance costs		(1,099)			(1,545)
Less: short-term and current portion of long-term debts		(37,554)			(23,444)
Total long-term debt		$	669,614		$	730,623

Schedule of Interest Income and Interest Expense Disclosure

The Company incurred the following debt related expenses included within Interest expense, net, in the Consolidated Statements of Operations for the years ended December 31, 2024, 2023 and 2022:



	2024		2023		2022
Interest expense	$	43,223	$	53,582	$	33,691
Amortization of debt issuance costs	1,413		1,413		2,942
Total	$	44,636	$	54,995	$	36,633

Schedule of Maturities of Long-term Debt

As of December 31, 2024, annual principal maturities on long-term borrowings, including the current portion, are as follows:


For the year ended December 31, 2025	$	34,318
For the year ended December 31, 2026	34,285
For the year ended December 31, 2027	628,342
For the year ended December 31, 2028	10,269
For the year ended December 31, 2029	—
Total maturities on debt in the next five fiscal years	707,214

Equity - Valuation Assumptions (Details) - shares	12 Months Ended
Equity - Valuation Assumptions (Details) - shares	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
July 2022 Grant
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Number of stock options granted (in shares)		4,837
Dividend yield		0.79%
Expected volatility		40.47%
Risk-free interest rate		2.87%
Expected term (years)		4 years
March 2022 Grant
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Number of stock options granted (in shares)		27,077
Dividend yield		0.80%
Expected volatility		38.60%
Risk-free interest rate		2.07%
Expected term (years)		4 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Dividend yield	0.00%
Risk-free interest rate	4.21%
Expected term (years)	3 years
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Dividend yield	0.91%	0.96%	0.93%
Risk-free interest rate	4.55%	3.85%	2.11%
Expected term (years)	3 years	3 years	3 years

Earnings Per Share - Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Net income (loss) attributable to Quaker Chemical Corporation	$ 116,644	$ 112,748	$ (15,931)
Less: (income) loss allocated to participating securities	(375)	(554)	92
Net income (loss) available to common shareholders	$ 116,269	$ 112,194	$ (15,839)
Basic weighted average common shares outstanding (in shares)	17,850,462	17,892,461	17,841,487
Effect of dilutive securities (in shares)	19,605	22,348	15,005
Diluted weighted average common shares outstanding (in shares)	17,870,067	17,914,809	17,856,492
Diluted earnings (loss) per common share (in dollars per share)	$ 6.51	$ 6.26	$ (0.89)

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment, Gross [Abstract]
Land	$ 25,143	$ 26,110
Building and improvements	149,783	147,135
Machinery and equipment	272,188	263,999
Construction in progress	35,919	16,175
Property, plant and equipment, at cost	483,033	453,419
Less: accumulated depreciation	(253,501)	(245,608)
Total property, plant and equipment, net	$ 229,532	$ 207,811

Business Segments - Reconciliation of Segment Operating Earnings to Operating Income (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting [Abstract]
Segment operating earnings		$ 466,121,000	$ 489,305,000	$ 405,835,000
Impairment charges		(6,530,000)	(7,588,000)	(3,163,000)
Impairment charges	$ (93,000,000)	0	0	(93,000,000)
Non-operating and administrative expenses		(203,956,000)	(206,398,000)	(196,620,000)
Depreciation of corporate assets and amortization		(60,929,000)	(60,824,000)	(60,748,000)
Operating income		194,706,000	214,495,000	52,304,000
Other income (expense), net		1,354,000	(10,672,000)	(12,607,000)
Interest expense, net		(41,002,000)	(50,699,000)	(32,579,000)
Income before taxes and equity in net income of associated companies		$ 155,058,000	$ 153,124,000	$ 7,118,000

Other Accrued Liabilities

12 Months Ended

Dec. 31, 2024

Accrued Liabilities, Current [Abstract]

Other Accrued Liabilities

Other accrued liabilities as of December 31, 2024 and 2023 were as follows:


	2024		2023
Non-income taxes	$	25,455	$	27,295
Short-term lease liabilities (See Note 6)	10,619		11,965
Selling expenses and freight accruals	10,716		7,789
Current income taxes payable (See Note 10)	12,772		14,835
Professional fees, legal, and acquisition-related accruals	5,340		5,577
Accrued interest (See Note 19)	1,289		2,630
Customer advances and sales return reserves	3,855		2,454
Accrued insurance	6,041		2,295
Accrued environmental reserves (See Note 25)	1,235		1,187
Earnout liability (See Note 2)	1,160		—
Accrued rent and facilities	1,129		1,104
Accrued non-pension benefits	833		581
Foreign currency forward contracts (See Note 24)	67		159
Other	157		12,444
Total other accrued liabilities	$	80,668	$	90,315

Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leases

The Company has operating leases for facilities, vehicles, and machinery and equipment with remaining lease terms up to 10 years. In addition, the Company has land use leases with remaining lease terms up to 90 years.

The Company’s finance leases are included in PP&E in the Consolidated Balance Sheets. See Note 14, Property, Plant and Equipment, for additional information. The Company has no material variable lease costs or sublease income for the years ended December 31, 2024, 2023 and 2022.

During the year ended December 31, 2024, the Company entered into a new lease agreement for office and laboratory space in Radnor, PA for the purposes of relocating its global headquarters. The lease is expected to commence in the third quarter of 2025 with a total lease commitment of $79.7 million.

The components of the Company’s lease expense for the years ended December 31, 2024, 2023 and 2022 are as follows:


	December 31, 2024		December 31, 2023		December 31, 2022
Operating lease expense	$	15,096	$	14,981	$	15,171
Short-term lease expense	807		760		816

Supplemental cash flow information related to the Company’s leases is as follows:


	December 31, 2024		December 31, 2023		December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	14,923	$	16,020	$	19,215

Non-cash lease liabilities activity
Leased right-of-use assets obtained in exchange for new operating lease liabilities	9,792		10,044		23,356

Supplemental balance sheet information related to the Company’s leases is as follows:


	December 31, 2024			December 31, 2023
Right-of-use lease assets	$	34,120		$	38,614

Other accrued liabilities	10,619			11,965
Long-term lease liabilities	20,028			22,937
Total operating lease liabilities	$	30,647		$	34,902

Weighted average remaining lease term (years)	5.0			5.1
Weighted average discount rate	5.63		%	4.91		%

Maturities of operating lease liabilities as of December 31, 2024 were as follows:



For the year ended December 31, 2025	$	12,753
For the year ended December 31, 2026	9,006
For the year ended December 31, 2027	5,112
For the year ended December 31, 2028	2,974
For the year ended December 31, 2029	1,724
For the year ended December 31, 2030 and beyond	4,827
Total lease payments	36,396
Less: imputed interest	(5,749)
Present value of lease liabilities (1)	$	30,647

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Feb. 28, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercised options, intrinsic value		$ 100	$ 3,600	$ 800
Director stock ownership plan maximum number of shares authorized under plan	75,000	75,000
Director stock ownership percentage threshold		500.00%
Director stock ownership plan percentage stock		75.00%
Director stock ownership plan percentage cash		25.00%
Director stock ownership plan percentage total		100.00%
Director retainer annual fee	$ 100	$ 100
Common stock, shares authorized (in shares)	30,000,000	30,000,000	30,000,000
Common stock, par value (in dollars per share)	$ 1.00	$ 1.00	$ 1.00
Common stock, shares outstanding (in shares)	17,673,607	17,673,607	17,991,988
Common stock, shares issued (in shares)	17,673,607	17,673,607	17,991,988
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Shares issued for ESPP (in shares)	0	0
Equity Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		14,694
Forfeited (in shares)		7,294
Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased and retired during period (in shares)		312,997	0	0
2024 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount					$ 150,000
Stock repurchase program, remaining authorized repurchase amount	$ 100,800	$ 100,800
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period, cost not yet recognized, period for recognition		2 months 12 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period, cost not yet recognized, period for recognition		9 months 18 days
Unrecognized compensation expense	1,100	$ 1,100
Granted (in shares)		872
Forfeited (in shares)		7,323
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period, cost not yet recognized, period for recognition		1 year 6 months
Unrecognized compensation expense	$ 6,900	$ 6,900
Granted (in shares)	9,820	71,866
Expected term (years)		3 years
Surrendered (in shares)		12,784
Forfeited (in shares)		9,171
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period, cost not yet recognized, period for recognition		1 year 8 months 12 days
Granted (in shares)		42,485
Vesting shares target, lower percent			0.00%
Vesting shares target, upper percent			200.00%
Expected term (years)		3 years	3 years	3 years
Unrecognized compensation expense	$ 4,500	$ 4,500
Forfeited (in shares)		38,283
Minimum \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity award vesting period		1 year
Minimum \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity award vesting period		1 year
Award vesting rights percentage	75.00%
Minimum \| Share-based Payment Arrangement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity award vesting period		2 years
Maximum \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity award vesting period		3 years
Options, maximum exercisable life		7 years
Maximum \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity award vesting period		3 years
Maximum \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity award vesting period		3 years
Award vesting rights percentage	125.00%
Maximum \| Share-based Payment Arrangement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity award vesting period		5 years

Hedging Activities - Schedule of Derivative Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Net gain	$ 2,744	$ 5,689	$ 0
Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Net gain	4,770	3,555	0
Other (expense) income, net
Derivative Instruments, Gain (Loss) [Line Items]
Net gain	(2,026)	2,134	$ 0
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Net unrealized loss deferred to AOCI	1,248	1,407
Interest rate swaps \| Other non-current assets
Derivative Instruments, Gain (Loss) [Line Items]
Fair value	1,621	1,828
Foreign currency forward contracts \| Other accrued liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Fair value	$ 67	$ 159

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Right-of-use lease assets	$ 34,120	$ 38,614
Other accrued liabilities	10,619	11,965
Long-term lease liabilities	20,028	22,937
Total operating lease liabilities	$ 30,647	$ 34,902
Weighted average remaining lease term (years)	5 years	5 years 1 month 6 days
Weighted average discount rate	5.63%	4.91%
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other accrued liabilities	Other accrued liabilities

Business Combinations	12 Months Ended
Business Combinations	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Combinations	Business Combinations Recent Acquisition Activity Subsequent to the date of these financial statements, in February 2025, the Company acquired Chemical Solutions & Innovations (Pty) Ltd. (“CSI”), for approximately $3.9 million, subject to routine and customary post-closing adjustments. CSI is based in South Africa and is a supplier of metalworking fluids and lubricants to the South African market. CSI will be reported as part of the EMEA reportable segment. This acquisition strengthens Quaker Houghton’s position in South Africa and expands the Company’s presence in that region. As of the date of this Report, purchase accounting has not been finalized. In July 2024, the Company acquired the Sutai Group (“Sutai”), for approximately $16.2 million, including an initial cash payment of $14.6 million, subject to routine and customary post-closing adjustments related to working capital and net indebtedness levels, as well as earn-out provisions with an initial estimated payout of $1.6 million related to the finalization of 2024 and 2025 earnings. Assets acquired included cash and cash equivalents of $5.5 million. The Company recorded incremental income of $0.4 million during the year ended December 31, 2024 relating to adjustments to these earnout provisions in Other income (expense), net on the Consolidated Statements of Operations. As of December 31, 2024, the Company has remaining earnout liabilities recorded on its Consolidated Balance Sheets of $1.2 million. Sutai is based in Japan and provides impregnation treatment products and services to the automotive and other industries. Sutai is reported as part of the Asia/Pacific reportable segment. This acquisition strengthens Quaker Houghton’s technology portfolio, enabling the Company to better support and optimize production processes for customers across the Japanese, Asia Pacific and global markets. The Company allocated $3.1 million of the purchase price to intangible assets and recognized $5.5 million of goodwill in the Asia/Pacific segment, none of which is deductible for tax purposes. The goodwill is primarily attributable to expected synergies. As of December 31, 2024, the allocation of the purchase price has not been finalized. During February 2024, the Company acquired I.K.V. Tribologie IKVT and its subsidiaries (“IKV”) for $35.2 million, including an initial cash payment of $29.7 million, subject to routine and customary post-closing adjustments related to working capital and net indebtedness levels as well as earn-out provisions related to the finalization of 2023 earnings. Assets acquired included approximately $4.8 million of cash and cash equivalents. IKV, which is part of the Company’s EMEA segment, specializes in high-performance lubricants and greases, including original equipment manufacturer first-fill greases that are primarily used in the automotive, aerospace, electronics and other industrial markets. The acquisition of IKV strengthens the Company’s position in first-fill greases. The Company allocated $15.0 million of the purchase price to intangible assets, comprised of approximately $11.1 million of customer relationships to be amortized over 16 years; $3.2 million of product technologies to be amortized over 14 years; and $0.7 million of trademarks to be amortized over 5 years. In addition, the Company recognized $16.4 million of goodwill in the EMEA segment, none of which is deductible for tax purposes. The goodwill is primarily attributable to expected cost and growth synergies. In July 2024, the 2023 earnings were finalized and the Company made a payment of $5.5 million in connection with the post-closing adjustments and earn-out provision. As of December 31, 2024, the allocation of the purchase price has been finalized. The results of operations of Sutai and IKV subsequent to the acquisition dates are included in the Consolidated Statements of Operations for the year ended December 31, 2024. 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. The Company allocated $2.8 million of the purchase price to intangible assets, comprised of $2.3 million of customer relationships to be amortized over 10 years; $0.2 million of existing product technologies to be amortized over 10 years; and $0.3 million of licensed trademarks to be amortized over 10 years. In addition, the Company recorded $0.8 million of goodwill related to expected value not allocated to other acquired assets. 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. The Company allocated $5.6 million of the purchase price to intangible assets, comprised of $5.1 million of customer relationships to be amortized over 14 years; and $0.5 million of existing product technologies to be amortized over 14 years. In addition, the Company recorded $1.8 million of goodwill related to expected value not allocated to other acquired assets, all of which is expected to be tax deductible in various jurisdictions in which the Company operates. 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 $1.4 million. The results of operations of each acquisition completed prior to December 31, 2024 and subsequent to the respective acquisition dates are included in the Consolidated Statements of Operations. Applicable transaction expenses associated with these acquisitions are included in SG&A in the Company’s Consolidated Statements of Operations. Certain pro forma and other information is not presented, as the operations of the acquired assets and businesses are not considered material to the overall operations of the Company for the periods presented.

Investments in Associated Companies - Summarized Financial Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity in net income of associated companies	$ 10,971	$ 15,333	$ 1,965
Houghton Korea
Equity in net income of associated companies	6,795	11,442	2,644
Nippon Japan
Equity in net income of associated companies	925	1,492	323
Kelko Panama
Equity in net income of associated companies	321	309	425
Primex
Equity in net income of associated companies	$ 2,930	$ 2,090	$ (1,427)

- Definition

Amount of income (loss) for proportionate share of equity method investee's income (loss).

+ References + Details

Inventories

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories as of December 31, 2024 and 2023 were as follows:


	2024		2023
Raw materials and supplies	$	112,457	$	119,047
Work in process, finished goods and reserves	115,015		114,810
Total inventories	$	227,472	$	233,857

Hedging Activities

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Hedging Activities

The 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 derivative financial instruments for trading or speculative purposes.

Foreign Exchange Forward Contracts

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 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 income (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.

Open foreign exchange forward contracts as of December 31, 2024 were entered into as hedges of Japanese yen and Mexican peso against the U.S. dollar and had the following notional U.S. dollar values:


Currency	December 31, 2024
Mexican Peso	$	17,800
Japanese Yen	4,500
Total	$	22,300

Open foreign exchange forward contracts as of December 31, 2024 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 19, Debt, for additional information.

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 hedged 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 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 Consolidated Balance Sheets.

The fair value of the Company’s interest rate swaps and forward exchange contracts is determined from sources independent of the Company, including the financial institutions which are party to the derivative instruments, using standard pricing models that consider the value of future cash flows as of the balance sheet date, discounted to a present value using discount factors that match both the time to maturity and currency of the underlying instruments. These standard pricing models utilize inputs that are derived from or corroborated by observable market data such as interest rate yield curves as well as currency spot and forward rates; therefore, the fair value of our derivatives is classified as a Level 2 measurement. The balance sheet classification and fair values of the Company’s derivative instruments are as follows:


Derivative instruments	Consolidated Balance Sheet Location	December 31,
		2024		2023

Interest rate swaps	Other non-current assets	$	1,621	$	1,828
Foreign currency forward contracts	Other accrued liabilities	67		159

The following table presents the net unrealized loss deferred to AOCI:


		December 31,
		2024		2023
Derivatives designated as cash flow hedges
Interest rate swaps	AOCI	$	1,248	$	1,407

The following table presents the net gain or loss recognized in the Company’s Consolidated Statements of Operations for the years ended December 31, 2024, 2023 and 2022:


Derivative instruments	Consolidated Statements of Operations Location	2024		2023		2022
Interest rate swaps	Interest expense, net	$	4,770	$	3,555	$	—
Foreign exchange forward contracts	Other (expense) income, net	(2,026)		2,134		—
Total		$	2,744	$	5,689	$	—

Income Taxes- Valuation Allowance Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Assets, Valuation Allowance [Roll Forward]
Balance at January 1,	$ 24,182	$ 11,730	$ 17,400
Net charges to income tax expense	5,693	14,393	1,119
Release of valuation allowance	(1,882)	(1,941)	(6,789)
Balance at December 31,	$ 27,993	$ 24,182	$ 11,730

Basis of Presentation and Significant Accounting Policies - Segments (Details)	3 Months Ended
	Mar. 31, 2024 segment
Accounting Policies [Abstract]
Number of reportable segments	3

Pension and Other Postretirement Benefits - Information About Accumulated and Projected Benefit Obligations In Excess of Plan Assets (Details) - Pension Benefits - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract]
Accumulated benefit obligation	$ 146,206	$ 154,465
Fair value of plan assets	126,386	130,386
Defined Benefit Plan, Pension Plan with Project Benefit Obligation in Excess of Plan Assets [Abstract]
Projected benefit obligation	151,284	172,796
Fair value of plan assets	126,386	142,474
Foreign
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract]
Accumulated benefit obligation	72,836	75,402
Fair value of plan assets	66,838	69,419
Defined Benefit Plan, Pension Plan with Project Benefit Obligation in Excess of Plan Assets [Abstract]
Projected benefit obligation	77,914	93,733
Fair value of plan assets	66,838	81,507
U.S.
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract]
Accumulated benefit obligation	73,370	79,063
Fair value of plan assets	59,548	60,967
Defined Benefit Plan, Pension Plan with Project Benefit Obligation in Excess of Plan Assets [Abstract]
Projected benefit obligation	73,370	79,063
Fair value of plan assets	$ 59,548	$ 60,967

Debt - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
Debt - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Debt Instrument [Line Items]
Unused borrowing capacity		$ 32,900
Letters of credit outstanding amount		6,000
Loss on extinguishment of debt		0	$ 0	$ (6,763)
Other Assets
Debt Instrument [Line Items]
Debt issuance costs		2,400	3,300
Interest rate swaps
Debt Instrument [Line Items]
Derivative liability, notional amount					$ 300,000
EURO Term Loan
Debt Instrument [Line Items]
Credit facilities	$ 150,000
U.S. Term Loan
Debt Instrument [Line Items]
Credit facilities	600,000
Revolver
Debt Instrument [Line Items]
Credit facilities	$ 500,000
Credit facility as percentage of consolidated EBITDA	100.00%
Debt issuance costs		$ 1,100	1,500
Amended Credit Facility
Debt Instrument [Line Items]
Maximum increase in borrowing capacity	$ 300,000
Interest rate adjustment	0.10%
Maximum amount of dividends and share purchases under covenant	$ 75,000
Percentage of dividends and share repurchase of consolidated adjusted EBITDA	25.00%
Loss on extinguishment of debt				$ 6,800
Long-term debt, term		5 years
Amended Credit Facility \| Minimum
Debt Instrument [Line Items]
Commitment fee percentage		0.15%
Amended Credit Facility \| Minimum \| Base rate loans rate
Debt Instrument [Line Items]
Variable interest rate	0.00%
Amended Credit Facility \| Minimum \| Alternative currency term rate plus the applicable rate
Debt Instrument [Line Items]
Variable interest rate	1.75%
Amended Credit Facility \| Minimum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Variable interest rate	1.00%
Amended Credit Facility \| Maximum
Debt Instrument [Line Items]
Consolidated net leverage ratio	2.50
Commitment fee percentage		0.275%
Amended Credit Facility \| Maximum \| Base rate loans rate
Debt Instrument [Line Items]
Variable interest rate	0.75%
Amended Credit Facility \| Maximum \| Alternative currency term rate plus the applicable rate
Debt Instrument [Line Items]
Variable interest rate	1.00%
Amended Credit Facility \| Maximum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Variable interest rate	1.75%
Line of Credit \| Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding amount		$ 2,400
Line of Credit \| Maximum
Debt Instrument [Line Items]
Initial consolidated net debt to consolidated EBITDA ratio	4.00
Original Credit Facility and the Amended Credit Facility
Debt Instrument [Line Items]
Weighted average variable interest rate		6.10%
Previous Credit Facility
Debt Instrument [Line Items]
Weighted average variable interest rate		5.20%
Revolving Credit Facility \| Letter of Credit
Debt Instrument [Line Items]
Unused borrowing capacity		$ 448,700
Domestic Line of Credit
Debt Instrument [Line Items]
Derivative variable interest rate					3.64%
Derivative fixed interest rate		4.90%
Industrial Development Bond Due 2028
Debt Instrument [Line Items]
Industrial development revenue bond		$ 10,000	$ 10,000

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 were as follows:


	Americas		EMEA		Asia/Pacific		Global Specialty Businesses		Total


Balance as of December 31, 2022	$	215,899	$	34,567	$	150,375	$	114,167	$	515,008
Reallocation of reporting units (1)	63,697		31,711		18,759		(114,167)		—
Balance as of January 1, 2023	279,596		66,278		169,134		—		515,008

Currency translation and other adjustments	3,507		(338)		(5,659)		—		(2,490)
Balance as of December 31, 2023	283,103		65,940		163,475		—		512,518
Goodwill from acquisitions	—		16,448		5,511		—		21,959
Currency translation and other adjustments	(6,228)		(1,984)		(7,371)		—		(15,583)
Balance as of December 31, 2024	$	276,875	$	80,404	$	161,615	$	—	$	518,894


	2024		2023		2022
Goodwill, gross	$	611,498	$	609,571	$	608,008
Accumulated impairment losses (1)	(92,604)		(97,053)		(93,000)
Goodwill, net	$	518,894	$	512,518	$	515,008

Schedule of Finite-Lived Intangible Assets

Gross carrying amounts and accumulated amortization for definite-lived intangible assets as of December 31, 2024 and 2023 were as follows:


	Gross Carrying Amount				Accumulated Amortization				Net Book Value
	2024		2023		2024		2023		2024		2023
Customer lists and rights to sell	$	829,255	$	841,562	$	285,450	$	243,872	$	543,805	$	597,690
Trademarks, formulations and product technology	160,257		161,613		62,373		55,879		97,884		105,734
Other	5,759		5,892		5,663		5,776		96		116
Total definite-lived intangible assets	$	995,271	$	1,009,067	$	353,486	$	305,527	$	641,785	$	703,540

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Amortization expense is recorded within SG&A in the Company’s Consolidated Statements of Operations. Estimated annual aggregate amortization expense for the subsequent five years is as follows:


For the year ended December 31, 2025	$	56,464
For the year ended December 31, 2026	56,174
For the year ended December 31, 2027	55,833
For the year ended December 31, 2028	55,374
For the year ended December 31, 2029	54,320

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Pension and Other Postretirement Benefits - Asset Allocations (Details) - Pension Benefits	Dec. 31, 2024	Dec. 31, 2023
U.S.
Defined Benefit Plan Disclosure [Line Items]
Target Plan Asset Allocations	100.00%
Actual Plan Asset Allocations	100.00%	100.00%
U.S. \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target Plan Asset Allocations	30.00%
Actual Plan Asset Allocations	27.00%	23.00%
U.S. \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Target Plan Asset Allocations	70.00%
Actual Plan Asset Allocations	71.00%	70.00%
U.S. \| Other
Defined Benefit Plan Disclosure [Line Items]
Target Plan Asset Allocations	0.00%
Actual Plan Asset Allocations	2.00%	7.00%
Foreign
Defined Benefit Plan Disclosure [Line Items]
Target Plan Asset Allocations	100.00%
Actual Plan Asset Allocations	100.00%	100.00%
Foreign \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target Plan Asset Allocations	17.00%
Actual Plan Asset Allocations	18.00%	15.00%
Foreign \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Target Plan Asset Allocations	65.00%
Actual Plan Asset Allocations	62.00%	63.00%
Foreign \| Other
Defined Benefit Plan Disclosure [Line Items]
Target Plan Asset Allocations	18.00%
Actual Plan Asset Allocations	20.00%	22.00%

Property, Plant and Equipment - Narrative (Details) $ in Millions	Dec. 31, 2024 USD ($)
Property, Plant and Equipment [Abstract]
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, plant and equipment, net
Finance lease assets	$ 1.0

Pension and Other Postretirement Benefits - Cash Flow (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
2025	$ 14,312
2026	14,029
2027	13,047
2028	13,118
2029	14,523
2030 to 2034	71,625
Foreign \| Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
2025	6,354
2026	7,099
2027	6,800
2028	6,945
2029	8,453
2030 to 2034	43,345
U.S. \| Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
2025	7,958
2026	6,930
2027	6,247
2028	6,173
2029	6,070
2030 to 2034	28,280
U.S. \| Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
2025	170
2026	161
2027	140
2028	130
2029	120
2030 to 2034	$ 469

Accounts Receivable and Allowance for Credit Losses - Accounts Receivable - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Receivables [Abstract]
Gross trade accounts receivable	$ 413.7	$ 458.3

Goodwill and Other Intangible Assets - Future Amortization (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
For the year ended December 31, 2025	$ 56,464
For the year ended December 31, 2026	56,174
For the year ended December 31, 2027	55,833
For the year ended December 31, 2028	55,374
For the year ended December 31, 2029	$ 54,320

Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Accumulated Other Comprehensive Loss

The following table shows the reclassifications from and resulting balances of AOCI for the years ended December 31, 2024, 2023 and 2022:


	Currency Translation Adjustments		Defined Benefit Pension Plans		Unrealized Gain (Loss) in Available-for- Sale Securities		Derivative Instruments		Total
Balance as of December 31, 2021	$	(49,843)	$	(13,172)	$	397	$	(1,372)	$	(63,990)
Other comprehensive income (loss) before reclassifications	(82,318)		10,789		(3,276)		—		(74,805)
Amounts reclassified from AOCI	—		479		895		1,372		2,746
Related tax amounts	—		(2,691)		500		—		(2,191)
Balance as of December 31, 2022	(132,161)		(4,595)		(1,484)		—		(138,240)
Other comprehensive income (loss) before reclassifications	16,744		(7,702)		1,753		1,828		12,623
Amounts reclassified from AOCI	—		(464)		547		—		83
Related tax amounts	—		2,023		(483)		(421)		1,119
Balance as of December 31, 2023	(115,417)		(10,738)		333		1,407		(124,415)
Other comprehensive income (loss) before reclassifications	(77,424)		250		(44)		(207)		(77,425)
Amounts reclassified from AOCI			265		(14)		—		251
Related tax amounts	—		(90)		12		48		(30)
Balance as of December 31, 2024	$	(192,841)	$	(10,313)	$	287	$	1,248	$	(201,619)

All reclassifications related to Unrealized (loss) gain on 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 (loss) income for non-controlling interest are related to currency translation adjustments.

Business Segments - Information of Intersegment Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net sales	$ 1,839,686	$ 1,953,313	$ 1,943,585
Intersegment Sales Elimination \| Americas
Segment Reporting Information [Line Items]
Net sales	9,300	9,005	11,552
Intersegment Sales Elimination \| EMEA
Segment Reporting Information [Line Items]
Net sales	19,781	24,865	44,605
Intersegment Sales Elimination \| Asia/Pacific
Segment Reporting Information [Line Items]
Net sales	$ 6,397	$ 2,651	$ 957

- Definition

+ References

+ Details

Income Taxes - Deferred Tax Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Pension and other postretirement benefits	$ 5,472	$ 6,539
Allowance for credit losses	1,895	2,627
Insurance and litigation reserves	565	534
Performance incentives	5,582	5,839
Equity-based compensation	2,891	2,980
Prepaid expense	426	541
Operating loss carryforward	24,702	22,693
Foreign tax credit and other credits	19,516	13,360
Interest	16,423	12,926
Restructuring reserves	158	403
Right-of-use lease assets	7,629	8,018
Inventory reserves	2,423	4,810
Research and development	12,608	11,125
Other	1,261	5,712
Total deferred tax assets, gross	101,551	98,107
Valuation allowance	(27,993)	(24,182)	$ (11,730)	$ (17,400)
Total deferred tax assets, net	73,558	73,925
Depreciation	9,814	10,240
Intangibles	170,309	177,320
Lease liabilities	8,575	9,105
Outside basis in equity investment	6,080	5,276
Unremitted earnings	8,392	8,204
Total net deferred tax liabilities	203,170	210,145
Total net deferred tax liabilities	$ (129,612)	$ (136,220)

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 1.88	$ 1.78	$ 1.70

Restructuring and Related Activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Reserve [Roll Forward]
Asset-related charges	$ 6,530	$ 7,588	$ 3,163
Restructuring Programs
Restructuring Reserve [Roll Forward]
Accrued restructuring, beginning balance	3,350	5,483
Severance costs	3,259	7,162
Asset-related charges	3,271	426
Cash payments	(7,595)	(9,786)
Currency translation adjustments	12	65
Accrued restructuring, ending balance	$ 2,297	$ 3,350	$ 5,483

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 116,729	$ 112,872	$ (15,842)
Other comprehensive (loss) income, net of tax
Currency translation adjustments	(77,496)	16,725	(82,368)
Defined benefit retirement plans
Net gain (loss) arising during the period, other	105	(5,792)	8,177
Amortization of actuarial loss (gain)	301	(385)	628
Amortization of prior service cost (gain)	19	34	(228)
Current period change in fair value of derivatives	(159)	1,407	1,372
Unrealized (loss) gain on available-for-sale securities	(46)	1,817	(1,881)
Other comprehensive (loss) income	(77,276)	13,806	(74,300)
Comprehensive income (loss)	39,453	126,678	(90,142)
Less: Comprehensive income attributable to noncontrolling interest	(13)	(106)	(39)
Comprehensive income (loss) attributable to Quaker Chemical Corporation	$ 39,440	$ 126,572	$ (90,181)

Business Segments (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of information about the performance of the Company's reportable segments, sales and total assets

The following table presents information about the performance of the Company’s reportable segments for the years ended December 31, 2024, 2023 and 2022.


	Americas		EMEA		Asia/Pacific		Totals
2024
Net sales	$	882,131	$	536,435	$	421,120	$	1,839,686
Significant segment expenses
Product costs (1)	427,399		286,330		216,432		930,161
Other operating expenses (2)	210,775		150,679		81,950		443,404
Segment operating earnings	$	243,957	$	99,426	$	122,738	$	466,121
2023
Net sales	$	977,095	$	571,347	$	404,871	$	1,953,313
Significant segment expenses
Product costs (1)	497,690		318,279		209,422		1,025,391
Other operating expenses (2)	213,369		148,257		76,991		438,617
Segment operating earnings	$	266,036	$	104,811	$	118,458	$	489,305
2022
Net sales	$	946,516	$	562,508	$	434,561	$	1,943,585
Significant segment expenses
Product costs (1)	519,705		340,864		249,493		1,110,062
Other operating expenses (2)	203,182		145,280		79,226		427,688
Segment operating earnings	$	223,629	$	76,364	$	105,842	$	405,835

(1) Product costs include the costs of raw materials and are recorded in Cost of goods sold in the Company’s Consolidated Statements of Operations.

(2) Other operating expenses include overhead costs of operating the Company’s production facilities and providing chemical management services to customers and direct SG&A costs.


	2024		2023		2022
Segment operating earnings	$	466,121	$	489,305	$	405,835
Restructuring and related charges, net	(6,530)		(7,588)		(3,163)
Impairment charges	—		—		(93,000)
Non-operating and administrative expenses	(203,956)		(206,398)		(196,620)
Depreciation of corporate assets and amortization	(60,929)		(60,824)		(60,748)
Operating income	$	194,706	$	214,495	$	52,304
Other income (expense), net	1,354		(10,672)		(12,607)
Interest expense, net	(41,002)		(50,699)		(32,579)
Income before taxes and equity in net income of associated companies	$	155,058	$	153,124	$	7,118


Segment assets, excluding goodwill	2024		2023		2022
Americas	$	834,327	$	903,319	$	1,196,906
EMEA	650,045		703,338		583,861
Asia/Pacific	607,383		595,036		525,847
Total segment assets	$	2,091,755	$	2,201,693	$	2,306,614

The following tables summarize net sales and long-lived assets attributable to U.S. and non-U.S. domiciled operations for the years ended December 31, 2024, 2023 and 2022:


Net sales	2024		2023		2022
United States	$	637,755	$	718,742	$	696,885
China	230,622		231,331		265,418
Other foreign operations	971,309		1,003,240		981,282
Total net sales	$	1,839,686	$	1,953,313	$	1,943,585

All inter-segment transactions have been eliminated from each reportable segment’s net sales and earnings for all periods presented in the above tables. The following table summarizes inter-segment revenues for the years ended December 31, 2024, 2023 and 2022:


Inter-segment revenues	2024		2023		2022
Americas	$	9,300	$	9,005	$	11,552
EMEA	19,781		24,865		44,605
Asia/Pacific	6,397		2,651		957

Schedule of reportable segments' long-lived assets, including certain identifiable assets


Segment long-lived assets	2024		2023		2022
Americas	$	164,450	$	159,015	$	150,294
EMEA	80,668		83,488		87,279
Asia/Pacific	133,906		123,846		120,761
Total segment long-lived assets	$	379,024	$	366,349	$	358,334


Long-lived assets	2024		2023		2022
United States	$	217,687	$	217,834	$	201,960
Foreign operations	161,337		148,515		156,374
Total long-lived assets	$	379,024	$	366,349	$	358,334

Reconciliation of capital expenditures and depreciation for identifiable assets


Capital expenditures	2024		2023		2022
Americas	$	21,191	$	25,650	$	19,121
EMEA	11,989		7,561		6,065
Asia/Pacific	8,614		5,589		3,353
Total segment capital expenditures	$	41,794	$	38,800	$	28,539


Depreciation	2024		2023		2022
Americas	$	13,646	$	12,298	$	11,723
EMEA	7,641		7,321		6,608
Asia/Pacific	4,608		4,214		4,593
Total segment depreciation	$	25,895	$	23,833	$	22,924

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Pension and Other Postretirement Benefits - Level 3 Asset Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Change in plan assets
Fair value of plan assets at beginning of year	$ 196,354	$ 189,535
Currency translation adjustment	(5,051)	5,489
Fair value of plan assets at end of year	182,511	196,354
Level 3
Change in plan assets
Fair value of plan assets at beginning of year	124,311	68,865
Purchases (Sales)	(4,262)	47,337
Unrealized gains (losses)	(4,748)	4,754
Currency translation adjustment	(4,693)	3,355
Fair value of plan assets at end of year	110,608	124,311
Insurance contract \| Level 3
Change in plan assets
Fair value of plan assets at beginning of year	118,393	59,963
Purchases (Sales)	(1,310)	47,640
Unrealized gains (losses)	(4,620)	7,621
Currency translation adjustment	(4,666)	3,169
Fair value of plan assets at end of year	107,797	118,393
Real estate \| Level 3
Change in plan assets
Fair value of plan assets at beginning of year	5,918	8,902
Purchases (Sales)	(2,952)	(303)
Unrealized gains (losses)	(128)	(2,867)
Currency translation adjustment	(27)	186
Fair value of plan assets at end of year	$ 2,811	$ 5,918

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Income Taxes - Uncertain Tax Positions - Tabular Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]
Unrecognized tax benefits as of January 1	$ 15,659	$ 16,340	$ 22,464
Decrease in unrecognized tax benefits taken in prior periods	(88)	(147)	(1,174)
Increase in unrecognized tax benefits taken in current period	2,684	1,799	953
Decrease in unrecognized tax benefits due to lapse of statute of limitations	(3,559)	(2,736)	(2,378)
Decrease in unrecognized tax benefits due to audit settlements	0	0	(2,509)
Increase due to foreign exchange rates		403
Decrease due to foreign exchange rates	(747)		(1,016)
Unrecognized tax benefits as of December 31	$ 13,949	$ 15,659	$ 16,340

Accounts Receivable and Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

The following are changes in the allowance for credit losses during the years ended December 31, 2024, 2023 and 2022:


	Balance at Beginning of Period		Changes to Costs and Expenses		Write-Offs Charged to Allowance		Exchange Rate Changes and Other Adjustments		Balance at End of Period
Year ended December 31, 2024	$	13,302	$	2,120	$	(1,215)	$	(620)	$	13,587
Year ended December 31, 2023	$	13,527	$	1,327	$	(961)	$	(591)	$	13,302
Year ended December 31, 2022	$	12,334	$	4,319	$	(2,441)	$	(685)	$	13,527

Equity - Option Rollforward (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares
Number of Options
Options outstanding, beginning balance (in shares) \| shares	62,853
Options exercised (in shares) \| shares	2,263
Options forfeited (in shares) \| shares	1,978
Options outstanding, ending balance (in shares) \| shares	58,612
Weighted Average Exercise Price (per option)
Options outstanding, beginning balance (in dollars per share) \| $ / shares	$ 214.40
Options exercised (in dollars per share) \| $ / shares	145.95
Options forfeited (in dollars per share) \| $ / shares	152.65
Options outstanding, ending balance (in dollars per share) \| $ / shares	$ 219.13
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options outstanding, weighted average remaining contractual term	3 years 3 months 18 days
Options outstanding, aggregate intrinsic value \| $	$ 0
Options expected to vest, number of options (in shares) \| shares	7,033
Options exercisable, number of options, (in shares) \| shares	51,579
Options expected to vest, weighted average exercise price (in dollars per share) \| $ / shares	$ 178.29
Options exercisable, weighted average exercise price (in dollars per share) \| $ / shares	$ 194.91
Options expected to vest, weighted average remaining contractual term	4 years 2 months 12 days
Options exercisable, weighted average remaining contractual term	3 years 1 month 6 days
Options expected to vest, aggregate intrinsic value \| $	$ 0
Options exercisable, aggregate intrinsic value \| $	$ 0

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income (loss) attributable to Quaker Chemical Corporation	$ 116,644	$ 112,748	$ (15,931)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Business Segments - Schedule of Capital Expenditures and Depreciation for Identifiable Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total segment capital expenditures	$ 41,794	$ 38,800	$ 28,539
Total segment depreciation	25,895	23,833	22,924
Americas
Segment Reporting Information [Line Items]
Total segment capital expenditures	21,191	25,650	19,121
Total segment depreciation	13,646	12,298	11,723
EMEA
Segment Reporting Information [Line Items]
Total segment capital expenditures	11,989	7,561	6,065
Total segment depreciation	7,641	7,321	6,608
Asia/Pacific
Segment Reporting Information [Line Items]
Total segment capital expenditures	8,614	5,589	3,353
Total segment depreciation	$ 4,608	$ 4,214	$ 4,593

Equity - Activity of Nonvested Awards Rollforward (Details) - $ / shares	3 Months Ended	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2024
Restricted Stock
Number of Shares
Balance at the beginning (in shares)		77,757
Granted (in shares)		872
Vested (in shares)		41,555
Forfeited (in shares)		7,323
Balance at the ending (in shares)	29,751	29,751
Weighted Average Grant Date Fair Value (per share)
Nonvested awards, beginning balance (in dollars per share)		$ 187.24
Granted (in dollars per share)		200.48
Vested (in dollars per share)		197.32
Forfeited (in dollars per share)		172.65
Nonvested awards, ending balance (in dollars per share)	$ 177.12	$ 177.12
Restricted Stock Units (RSUs)
Number of Shares
Balance at the beginning (in shares)		16,202
Granted (in shares)	9,820	71,866
Vested (in shares)		10,267
Forfeited (in shares)		9,171
Balance at the ending (in shares)	68,630	68,630
Weighted Average Grant Date Fair Value (per share)
Nonvested awards, beginning balance (in dollars per share)		$ 180.14
Granted (in dollars per share)		187.74
Vested (in dollars per share)		192.13
Forfeited (in dollars per share)		195.22
Nonvested awards, ending balance (in dollars per share)	$ 182.90	$ 182.90
Performance stock units
Number of Shares
Balance at the beginning (in shares)		51,491
Granted (in shares)		42,485
Vested (in shares)		0
Forfeited (in shares)		38,283
Balance at the ending (in shares)	55,693	55,693
Weighted Average Grant Date Fair Value (per share)
Nonvested awards, beginning balance (in dollars per share)		$ 212.85
Granted (in dollars per share)		217.12
Vested (in dollars per share)		0
Forfeited (in dollars per share)		212.26
Nonvested awards, ending balance (in dollars per share)	$ 216.51	$ 216.51

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2024
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

Investment in Associated Companies (Tables)

12 Months Ended

Dec. 31, 2024

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Equity Method Investments

The following table is a summary of equity income in associated companies by investment for the years ending December 31, 2024, 2023 and 2022:



	2024		2023		2022
Houghton Korea	$	6,795	$	11,442	$	2,644
Nippon Japan	925		1,492		323
Kelko Panama	321		309		425

Primex	2,930		2,090		(1,427)
Total equity in net income of associated companies	$	10,971	$	15,333	$	1,965

Pension and Other Postretirement Benefits - Fair Value Hierarchy - Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 182,511	$ 196,354	$ 189,535
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	110,608	124,311	68,865
Real estate \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,811	5,918	8,902
Insurance contract \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	107,797	118,393	59,963
U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	59,548	60,967	59,591
Foreign
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	122,963	135,387	$ 129,944
Fair Value, Recurring
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	182,511	196,354
Fair Value, Recurring \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	180,476	194,281
Fair Value, Recurring \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,014	1,582
Fair Value, Recurring \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	68,854	68,388
Fair Value, Recurring \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	110,608	124,311
Fair Value, Recurring \| Measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,035	2,073
Fair Value, Recurring \| U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	59,548	60,967
Fair Value, Recurring \| U.S. \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	59,548	60,967
Fair Value, Recurring \| U.S. \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Recurring \| U.S. \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	58,454	56,820
Fair Value, Recurring \| U.S. \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,094	4,147
Fair Value, Recurring \| U.S. \| Pooled separate accounts \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	58,454	56,820
Fair Value, Recurring \| U.S. \| Pooled separate accounts \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Recurring \| U.S. \| Pooled separate accounts \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	58,454	56,820
Fair Value, Recurring \| U.S. \| Pooled separate accounts \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Recurring \| U.S. \| Real estate \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,094	4,147
Fair Value, Recurring \| U.S. \| Real estate \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Recurring \| U.S. \| Real estate \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Recurring \| U.S. \| Real estate \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,094	4,147
Fair Value, Recurring \| Foreign
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	122,963	135,387
Fair Value, Recurring \| Foreign \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	120,928	133,314
Fair Value, Recurring \| Foreign \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,014	1,582
Fair Value, Recurring \| Foreign \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10,400	11,568
Fair Value, Recurring \| Foreign \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	109,514	120,164
Fair Value, Recurring \| Foreign \| Real estate \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,717	1,771
Fair Value, Recurring \| Foreign \| Real estate \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Recurring \| Foreign \| Real estate \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Recurring \| Foreign \| Real estate \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,717	1,771
Fair Value, Recurring \| Foreign \| Cash and cash equivalents \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,014	1,582
Fair Value, Recurring \| Foreign \| Cash and cash equivalents \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,014	1,582
Fair Value, Recurring \| Foreign \| Cash and cash equivalents \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Recurring \| Foreign \| Cash and cash equivalents \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Recurring \| Foreign \| Insurance contract \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	107,797	118,393
Fair Value, Recurring \| Foreign \| Insurance contract \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Recurring \| Foreign \| Insurance contract \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Recurring \| Foreign \| Insurance contract \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	107,797	118,393
Fair Value, Recurring \| Foreign \| Diversified equity securities - registered investment companies \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,045	1,892
Fair Value, Recurring \| Foreign \| Diversified equity securities - registered investment companies \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Recurring \| Foreign \| Diversified equity securities - registered investment companies \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,045	1,892
Fair Value, Recurring \| Foreign \| Diversified equity securities - registered investment companies \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Recurring \| Foreign \| Fixed income – foreign registered investment companies \| Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8,355	9,676
Fair Value, Recurring \| Foreign \| Fixed income – foreign registered investment companies \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Recurring \| Foreign \| Fixed income – foreign registered investment companies \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8,355	9,676
Fair Value, Recurring \| Foreign \| Fixed income – foreign registered investment companies \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Recurring \| Foreign \| Commingled funds measured at NAV \| Measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 2,035	$ 2,073