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Hector Street Conshohocken PA 19428 – 2380 610 832-4000 Common Stock, $1 par value KWR NYSE Yes Yes Large Accelerated Filer 17873331 429783000 378561000 273589000 244710000 156194000 133851000 104310000 98701000 0 38000000 1175000 1716000 5815000 7878000 44894000 -12444000 4687000 -21175000 -5470000 -8461000 44111000 -42080000 10689000 -13070000 33422000 -29010000 5210000 666000 38632000 -28344000 17000 37000 38615000 -28381000 2.16 -1.60 2.15 -1.60 0.395 0.385 38632000 -28344000 -25461000 -54751000 -1292000 -16957000 562000 -3981000 -3025000 -1711000 -26632000 -43486000 12000000 -71830000 15000 -95000 11985000 -71735000 163455000 181833000 411523000 372974000 97631000 86148000 110147000 101616000 48285000 50156000 831041000 792727000 416514000 423253000 220724000 219370000 195790000 203883000 38027000 38507000 627574000 631212000 1075343000 1081358000 96213000 95785000 17057000 16566000 31906000 31796000 2912951000 2891834000 43330000 38967000 214015000 198872000 29091000 43300000 5970000 8248000 104029000 93573000 396435000 382960000 859433000 849068000 27050000 27070000 186031000 192763000 114549000 119059000 1583498000 1570920000 1 1 30000000 30000000 17875076 17850616 17875000 17851000 908748000 905171000 455493000 423940000 -53228000 -26598000 1328888000 1320364000 565000 550000 1329453000 1320914000 2912951000 2891834000 38632000 -28344000 1187000 1187000 22145000 21197000 5105000 -4285000 801000 0 -9888000 -22988000 3779000 4682000 5410000 2000 0 229000 0 38000000 -2884000 -519000 1175000 1716000 -1034000 22453000 46270000 -2322000 24994000 10162000 8315000 3263000 -3034000 -4841000 26597000 -5275000 -12618000 20219000 3934000 4892000 26655000 3160000 14744000 0 0 31000 -15845000 -8021000 9551000 9371000 30000000 205500000 -188000 -185000 7052000 6828000 -178000 -696000 0 1047000 0 751000 13031000 186622000 -3008000 -6424000 -18440000 192396000 181895000 143555000 163455000 335951000 <div id="TextBlockContainer4" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:739px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a3170" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 1 – Basis of Presentation and Description of Business<div style="display:inline-block;width:4.9px"> </div></div><div id="a3192" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:20.8px;">Basis of Presentation </div><div id="a3198" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:41.4px;">As used in these Notes to Condensed Consolidated<div style="display:inline-block;width:4.74px"> </div>Financial Statements, the terms “Quaker”, “Quaker Houghton”,<div style="display:inline-block;width:4.79px"> </div>the </div><div id="a3230" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:56.6px;">“Company”, “we”, and “our” refer to Quaker Chemical<div style="display:inline-block;width:4.82px"> </div>Corporation (doing business as Quaker Houghton), its subsidiaries, and </div><div id="a3264" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:72px;">associated companies, unless the context otherwise requires.<div style="display:inline-block;width:8.19px"> </div>As used in these Notes to Condensed Consolidated<div style="display:inline-block;width:4.74px"> </div>Financial Statements, </div><div id="a3299" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:87.4px;">the term Legacy Quaker refers to the Company prior<div style="display:inline-block;width:4.72px"> </div>to the closing of its combination with Houghton International,<div style="display:inline-block;width:4.62px"> </div>Inc. (“Houghton”) </div><div id="a3339" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:102.7px;">(herein referred to as the “Combination”).<div style="display:inline-block;width:7.75px"> </div></div><div id="div_2_XBRL_TS_84e0054e89654e269d0603ff9702e4d1" style="position:absolute;left:0px;top:102.7px;float:left;"><div id="TextBlockContainer3" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:139px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a3339_44_87" style="position:absolute;font-weight:normal;font-style:normal;left:234.893px;top:0px;">The condensed consolidated financial statements included herein<div style="display:inline-block;width:4.83px"> </div>are unaudited and have </div><div id="a3373" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">been prepared in accordance with generally accepted<div style="display:inline-block;width:4.74px"> </div>accounting principles in the United States (“U.S. GAAP”) for<div style="display:inline-block;width:4.73px"> </div>interim financial </div><div id="a3409" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">reporting and the United States Securities and Exchange Commission<div style="display:inline-block;width:4.92px"> </div>(“SEC”) regulations.<div style="display:inline-block;width:7.15px"> </div>Certain information and footnote </div><div id="a3440" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">disclosures normally included in financial statements prepared<div style="display:inline-block;width:4.81px"> </div>in accordance with U.S. GAAP have been condensed or<div style="display:inline-block;width:4.6px"> </div>omitted </div><div id="a3474" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">pursuant to such rules and regulations.<div style="display:inline-block;width:7.74px"> </div>In the opinion of management, the financial statements reflect all<div style="display:inline-block;width:4.7px"> </div>adjustments which are </div><div id="a3513" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.6px;">necessary for a fair statement of the financial position,<div style="display:inline-block;width:4.62px"> </div>results of operations and cash flows for the interim periods.<div style="display:inline-block;width:8.21px"> </div>The results for the </div><div id="a3559" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:92px;">three months ended March 31, 2021 are not necessarily<div style="display:inline-block;width:4.72px"> </div>indicative of the results to be expected for the full year.<div style="display:inline-block;width:8.83px"> </div>These financial </div><div id="a3603" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:107.4px;">statements should be read in conjunction with the Company’s<div style="display:inline-block;width:5.45px"> </div>Annual Report filed on Form 10-K for the year<div style="display:inline-block;width:4.74px"> </div>ended December 31, </div><div id="a3648" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:122.8px;">2020 (the “2020 Form 10-K”).</div></div></div><div id="a3648_28_3" style="position:absolute;font-weight:normal;font-style:normal;left:167.813px;top:225.5px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a3663" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:246.1px;">Description of Business </div><div id="a3669" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:266.8px;">The Company was organized in 1918, incorporated<div style="display:inline-block;width:4.89px"> </div>as a Pennsylvania business corporation in 1930, and in August<div style="display:inline-block;width:4.75px"> </div>2019 </div><div id="a3705" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:282.1px;">completed the Combination with Houghton to form<div style="display:inline-block;width:4.79px"> </div>Quaker Houghton.<div style="display:inline-block;width:7.08px"> </div>Quaker Houghton is a global leader in industrial process </div><div id="a3742" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:297.3px;">fluids.<div style="display:inline-block;width:6.94px"> </div>With a presence around the world,<div style="display:inline-block;width:4.71px"> </div>including operations in over </div><div id="a3742_72_2" style="position:absolute;left:385.293px;top:297.3px;">25</div><div id="a3742_74_57" style="position:absolute;font-weight:normal;font-style:normal;left:398.6px;top:297.3px;"><div style="display:inline-block;width:3.36px"> </div>countries, the Company’s customers<div style="display:inline-block;width:4.95px"> </div>include thousands of </div><div id="a3781" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:312.7px;">the world’s most advanced<div style="display:inline-block;width:4.76px"> </div>and specialized steel, aluminum, automotive, aerospace,<div style="display:inline-block;width:4.63px"> </div>offshore, can, mining, and metalworking </div><div id="a3811" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:328px;">companies.<div style="display:inline-block;width:7.12px"> </div>Quaker Houghton develops, produces, and markets a broad range<div style="display:inline-block;width:4.68px"> </div>of formulated chemical specialty products and offers </div><div id="a3845" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:343.4px;">chemical management services (which the Company refers<div style="display:inline-block;width:4.72px"> </div>to as “Fluidcare”) for various heavy industrial and manufacturing </div><div id="a3878" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:358.8px;">applications throughout its </div><div id="a3878_28_4" style="position:absolute;left:150.053px;top:358.8px;">four</div><div id="a3878_32_97" style="position:absolute;font-weight:normal;font-style:normal;left:172.293px;top:358.8px;"><div style="display:inline-block;width:3.36px"> </div>segments: Americas; Europe, Middle East and Africa (“EMEA”);<div style="display:inline-block;width:4.81px"> </div>Asia/Pacific; and Global Specialty </div><div id="a3910" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:374.1px;">Businesses. </div><div id="a3912" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:394.8px;">Hyper-inflationary economies</div><div id="a3917" style="position:absolute;font-weight:normal;font-style:normal;left:164.773px;top:394.8px;"> </div><div id="a3918" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:415.4px;">Based on various indices or index compilations being<div style="display:inline-block;width:4.67px"> </div>used to monitor inflation in Argentina as well as economic<div style="display:inline-block;width:4.99px"> </div>instability, </div><div id="a3956" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:430.8px;">effective July 1, 2018, Argentina’s<div style="display:inline-block;width:5.33px"> </div>economy was considered hyper-inflationary under U.S.<div style="display:inline-block;width:4.55px"> </div>GAAP.<div style="display:inline-block;width:8.23px"> </div>As a result, the Company began </div><div id="a3995" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:446.1px;">applying hyper-inflationary accounting with respect<div style="display:inline-block;width:4.71px"> </div>to the Company's wholly owned Argentine<div style="display:inline-block;width:4.52px"> </div>subsidiary beginning July 1, 2018.<div style="display:inline-block;width:7.48px"> </div>In </div><div id="a4035" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:461.3px;">addition, Houghton has an Argentina<div style="display:inline-block;width:4.49px"> </div>subsidiary to which hyper-inflationary accounting also is applied.<div style="display:inline-block;width:8.24px"> </div>As of, and for the three </div><div id="a4076" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:476.7px;">months ended March 31, 2021, the Company's Argentine<div style="display:inline-block;width:4.9px"> </div>subsidiaries represented less than </div><div id="a4076_88_1" style="position:absolute;left:493.64px;top:476.7px;">1</div><div id="a4076_89_38" style="position:absolute;font-weight:normal;font-style:normal;left:500.36px;top:476.7px;">% of the Company’s consolidated<div style="display:inline-block;width:4.79px"> </div>total </div><div id="a4115" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:492.1px;">assets and net sales, respectively.<div style="display:inline-block;width:8.46px"> </div>During the three months ended March 31, 2021 and 2020,<div style="display:inline-block;width:4.75px"> </div>the Company recorded $</div><div id="a4115_114_3" style="position:absolute;left:632.56px;top:492.1px;">0.2</div><div id="a4115_117_13" style="position:absolute;font-weight:normal;font-style:normal;left:649.04px;top:492.1px;"><div style="display:inline-block;width:3.36px"> </div>million and </div><div id="a4161" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:507.4px;">$</div><div id="a4161_1_3" style="position:absolute;left:11.147px;top:507.4px;">0.1</div><div id="a4161_4_129" style="position:absolute;font-weight:normal;font-style:normal;left:27.947px;top:507.4px;"><div style="display:inline-block;width:3.36px"> </div>million, respectively, of<div style="display:inline-block;width:4.58px"> </div>remeasurement losses associated with the applicable currency conversions<div style="display:inline-block;width:5.13px"> </div>related to Argentina.<div style="display:inline-block;width:7.25px"> </div>These </div><div id="a4195" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:522.8px;">losses were recorded within foreign exchange (losses) gains,<div style="display:inline-block;width:4.74px"> </div>net, which is a component of other income (expense),<div style="display:inline-block;width:4.66px"> </div>net, in the </div><div id="a4235" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:538.1px;">Company’s Condensed<div style="display:inline-block;width:4.71px"> </div>Consolidated Statements of Operations. </div><div id="a4248" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:558.8px;">COVID-19 </div><div id="a4252" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:579.4px;">Management continues to monitor the impact that the COVID-19<div style="display:inline-block;width:4.97px"> </div>pandemic is having on the Company,<div style="display:inline-block;width:5px"> </div>the overall specialty </div><div id="a4290" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:594.8px;">chemical industry,<div style="display:inline-block;width:4.71px"> </div>and the economies and markets in which the Company operates.<div style="display:inline-block;width:8.17px"> </div>The full extent of the COVID-19 pandemic </div><div id="a4330" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:610px;">related business and travel restrictions and changes to<div style="display:inline-block;width:4.77px"> </div>business and consumer behavior intended to reduce its spread are<div style="display:inline-block;width:4.74px"> </div>uncertain as of </div><div id="a4372" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:625.3px;">the date of this Quarterly Report on Form 10-Q for the<div style="display:inline-block;width:4.59px"> </div>period ended March 31, 2021 (the “Report”) as COVID-19<div style="display:inline-block;width:4.8px"> </div>and the responses </div><div id="a4422" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:640.7px;">of governmental authorities continue to evolve globally. </div><div id="a4436" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:661.4px;">Further, management continues to<div style="display:inline-block;width:4.71px"> </div>evaluate how COVID-19-related circumstances, such as remote<div style="display:inline-block;width:4.81px"> </div>work arrangements, affect </div><div id="a4468" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:676.7px;">financial reporting processes, internal control over financial<div style="display:inline-block;width:4.82px"> </div>reporting, and disclosure controls and procedures.<div style="display:inline-block;width:7.87px"> </div>While the </div><div id="a4499" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:692.1px;">circumstances have presented and are expected to continue<div style="display:inline-block;width:4.79px"> </div>to present challenges, at this time, Management does not believe that </div><div id="a4538" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:707.5px;">COVID-19 has had a material impact on financial reporting<div style="display:inline-block;width:4.69px"> </div>processes, internal control over financial reporting,<div style="display:inline-block;width:4.71px"> </div>and disclosure </div><div id="a4574" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:722.8px;">controls and procedures.</div></div><div id="TextBlockContainer6" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:113px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a4579" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The Company cannot reasonably estimate the magnitude<div style="display:inline-block;width:4.81px"> </div>of the effects these conditions will have on the Company’s<div style="display:inline-block;width:5.57px"> </div>operations in </div><div id="a4617" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">the future as they are subject to significant uncertainties<div style="display:inline-block;width:4.71px"> </div>relating to the ultimate geographic spread of the virus,<div style="display:inline-block;width:4.7px"> </div>the incidence and </div><div id="a4659" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.6px;">severity of the symptoms, the duration or resurgence<div style="display:inline-block;width:4.93px"> </div>of the outbreak, the global availability and acceptance of vaccines<div style="display:inline-block;width:4.66px"> </div>as well as their </div><div id="a4703" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">efficacy,<div style="display:inline-block;width:4.82px"> </div>the length of the travel restrictions and business<div style="display:inline-block;width:4.27px"> </div>closures imposed by governments of impacted countries,<div style="display:inline-block;width:4.74px"> </div>and the economic </div><div id="a4742" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">response by governments of impacted countries. </div><div id="a4754" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:81.9px;">To the extent<div style="display:inline-block;width:4.81px"> </div>that the Company’s customers and<div style="display:inline-block;width:4.78px"> </div>suppliers continue to be significantly and adversely impacted by<div style="display:inline-block;width:4.81px"> </div>COVID-19, this </div><div id="a4795" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:97.3px;">could reduce the availability,<div style="display:inline-block;width:4.84px"> </div>or result in delays, of materials or supplies to or from<div style="display:inline-block;width:4.71px"> </div>the Company, which in<div style="display:inline-block;width:4.81px"> </div>turn could significantly </div></div><div id="TextBlockContainer8" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:722px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a4889" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">interrupt the Company’s<div style="display:inline-block;width:4.7px"> </div>business operations.<div style="display:inline-block;width:7.15px"> </div>Such impacts could grow and become more significant to the<div style="display:inline-block;width:4.76px"> </div>Company’s operations </div><div id="a4924" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">and the Company’s liquidity<div style="display:inline-block;width:4.84px"> </div>or financial position.<div style="display:inline-block;width:7.21px"> </div>Therefore, given the speed and frequency of continuously<div style="display:inline-block;width:4.78px"> </div>evolving developments </div><div id="a4958" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">with respect to this pandemic, the Company cannot reasonably<div style="display:inline-block;width:4.81px"> </div>estimate the magnitude or the full extent to which COVID-19<div style="display:inline-block;width:4.78px"> </div>may </div><div id="a5001" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">impact the Company’s results<div style="display:inline-block;width:4.77px"> </div>of operations, liquidity or financial position.</div></div> <div id="TextBlockContainer3" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:139px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a3339_44_87" style="position:absolute;font-weight:normal;font-style:normal;left:234.893px;top:0px;">The condensed consolidated financial statements included herein<div style="display:inline-block;width:4.83px"> </div>are unaudited and have </div><div id="a3373" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">been prepared in accordance with generally accepted<div style="display:inline-block;width:4.74px"> </div>accounting principles in the United States (“U.S. GAAP”) for<div style="display:inline-block;width:4.73px"> </div>interim financial </div><div id="a3409" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">reporting and the United States Securities and Exchange Commission<div style="display:inline-block;width:4.92px"> </div>(“SEC”) regulations.<div style="display:inline-block;width:7.15px"> </div>Certain information and footnote </div><div id="a3440" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">disclosures normally included in financial statements prepared<div style="display:inline-block;width:4.81px"> </div>in accordance with U.S. GAAP have been condensed or<div style="display:inline-block;width:4.6px"> </div>omitted </div><div id="a3474" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">pursuant to such rules and regulations.<div style="display:inline-block;width:7.74px"> </div>In the opinion of management, the financial statements reflect all<div style="display:inline-block;width:4.7px"> </div>adjustments which are </div><div id="a3513" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.6px;">necessary for a fair statement of the financial position,<div style="display:inline-block;width:4.62px"> </div>results of operations and cash flows for the interim periods.<div style="display:inline-block;width:8.21px"> </div>The results for the </div><div id="a3559" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:92px;">three months ended March 31, 2021 are not necessarily<div style="display:inline-block;width:4.72px"> </div>indicative of the results to be expected for the full year.<div style="display:inline-block;width:8.83px"> </div>These financial </div><div id="a3603" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:107.4px;">statements should be read in conjunction with the Company’s<div style="display:inline-block;width:5.45px"> </div>Annual Report filed on Form 10-K for the year<div style="display:inline-block;width:4.74px"> </div>ended December 31, </div><div id="a3648" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:122.8px;">2020 (the “2020 Form 10-K”).</div></div> 25 4 0.01 0.01 200000 100000 <div id="TextBlockContainer10" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:734px;height:331px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a5021" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 2 – Business Acquisitions </div><div id="a5031" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:20.6px;">2021 Acquisitions </div><div id="a5035" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:41.3px;">In February 2021, the Company acquired a tin-plating<div style="display:inline-block;width:4.83px"> </div>solutions business for the steel end market for approximately $</div><div id="a5035_116_2" style="position:absolute;left:655.279px;top:41.3px;">25</div><div id="a5035_118_11" style="position:absolute;font-weight:normal;font-style:normal;left:668.559px;top:41.3px;"><div style="display:inline-block;width:3.2px"> </div>million.<div style="display:inline-block;width:3.59px"> </div></div><div id="a5075" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:56.6px;">The Company allocated $</div><div id="a5075_23_4" style="position:absolute;left:141.893px;top:56.6px;">19.6</div><div id="a5075_27_67" style="position:absolute;font-weight:normal;font-style:normal;left:165.093px;top:56.6px;"><div style="display:inline-block;width:3.36px"> </div>million of the purchase price to intangible assets, comprised<div style="display:inline-block;width:4.74px"> </div>of $</div><div id="a5075_94_4" style="position:absolute;left:513.479px;top:56.6px;">18.3</div><div id="a5075_98_36" style="position:absolute;font-weight:normal;font-style:normal;left:536.84px;top:56.6px;"><div style="display:inline-block;width:3.2px"> </div>million of customer relationships, </div><div id="a5113" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:72px;">to be amortized over </div><div id="a5113_21_2" style="position:absolute;left:117.893px;top:72px;">19</div><div id="a5113_23_9" style="position:absolute;font-weight:normal;font-style:normal;left:131.173px;top:72px;"><div style="display:inline-block;width:3.36px"> </div>years; $</div><div id="a5113_32_3" style="position:absolute;left:176.293px;top:72px;">0.9</div><div id="a5113_35_61" style="position:absolute;font-weight:normal;font-style:normal;left:193.093px;top:72px;"><div style="display:inline-block;width:3.2px"> </div>million of existing product technology to be amortized over </div><div id="a5113_96_2" style="position:absolute;left:518.28px;top:72px;">14</div><div id="a5113_98_13" style="position:absolute;font-weight:normal;font-style:normal;left:531.56px;top:72px;"><div style="display:inline-block;width:3.36px"> </div>years; and $</div><div id="a5113_111_3" style="position:absolute;left:599.279px;top:72px;">0.4</div><div id="a5113_114_14" style="position:absolute;font-weight:normal;font-style:normal;left:616.079px;top:72px;"><div style="display:inline-block;width:3.36px"> </div>million of a </div><div id="a5160" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:87.2px;">licensed trademark to be amortized over </div><div id="a5160_40_1" style="position:absolute;left:222.253px;top:87.2px;">3</div><div id="a5160_41_44" style="position:absolute;font-weight:normal;font-style:normal;left:228.973px;top:87.2px;"><div style="display:inline-block;width:3.36px"> </div>years.<div style="display:inline-block;width:6.74px"> </div>In addition, the Company recorded $</div><div id="a5160_85_3" style="position:absolute;left:466.76px;top:87.2px;">5.0</div><div id="a5160_88_41" style="position:absolute;font-weight:normal;font-style:normal;left:483.4px;top:87.2px;"><div style="display:inline-block;width:3.2px"> </div>million of goodwill related to expected </div><div id="a5200" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:102.6px;">value not allocated to other acquired assets, all of which<div style="display:inline-block;width:4.83px"> </div>is expected to be tax deductible.<div style="display:inline-block;width:7.1px"> </div>As of March 31, 2021, the allocation of the </div><div id="a5251" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:117.9px;">purchase price has not been finalized and the </div><div id="a5251_46_8" style="position:absolute;left:247.533px;top:117.9px;-sec-ix-hidden:ID_553;">one-year</div><div id="a5251_54_78" style="position:absolute;font-weight:normal;font-style:normal;left:294.253px;top:117.9px;"><div style="display:inline-block;width:3.2px"> </div>measurement period has not ended.<div style="display:inline-block;width:7.52px"> </div>Further adjustments may be necessary as a </div><div id="a5295" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:133.3px;">result of the Company’s<div style="display:inline-block;width:4.78px"> </div>on-going assessment of additional information related to the fair value<div style="display:inline-block;width:4.73px"> </div>of assets acquired and liabilities </div><div id="a5336" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:148.7px;">assumed. </div><div id="a5338" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:169.3px;">Additionally, in<div style="display:inline-block;width:4.79px"> </div>February 2021, the Company acquired a </div><div id="a5338_55_2" style="position:absolute;left:334.413px;top:169.3px;">38</div><div id="a5338_57_64" style="position:absolute;font-weight:normal;font-style:normal;left:347.693px;top:169.3px;">% ownership interest in Grindaix-GmbH (“Grindaix”),<div style="display:inline-block;width:4.88px"> </div>a privately </div><div id="a5372" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:184.7px;">held, German-based, high-tech provider of coolant control<div style="display:inline-block;width:4.87px"> </div>and delivery systems for approximately </div><div id="a5372_97_3" style="position:absolute;left:533.48px;top:184.7px;">1.4</div><div id="a5372_100_30" style="position:absolute;font-weight:normal;font-style:normal;left:550.12px;top:184.7px;"><div style="display:inline-block;width:3.36px"> </div>million EUR or approximately </div><div id="a5410" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:199.9px;">$</div><div id="a5410_1_3" style="position:absolute;left:11.147px;top:199.9px;">1.7</div><div id="a5410_4_130" style="position:absolute;font-weight:normal;font-style:normal;left:27.947px;top:199.9px;"><div style="display:inline-block;width:3.36px"> </div>million.<div style="display:inline-block;width:6.82px"> </div>Grindaix's solutions apply to a wide range of machining processes,<div style="display:inline-block;width:4.77px"> </div>including grinding applications in the metalworking </div><div id="a5447" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:215.2px;">sector.<div style="display:inline-block;width:7.66px"> </div>The Company recorded the investment in Grindaix as an equity<div style="display:inline-block;width:4.83px"> </div>method investment within the Condensed Consolidated </div><div id="a5481" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:230.6px;">Financial Statements. </div><div id="a5485" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:254px;">The results of operations of the acquired businesses subsequent<div style="display:inline-block;width:4.84px"> </div>to the respective acquisition dates are included in<div style="display:inline-block;width:4.7px"> </div>the Condensed </div><div id="a5524" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:269.3px;">Consolidated Statements of Operations as of March<div style="display:inline-block;width:4.71px"> </div>31, 2021.<div style="display:inline-block;width:6.84px"> </div>Transaction expenses associated with these<div style="display:inline-block;width:4.76px"> </div>acquisitions are included in </div><div id="a5560" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:284.7px;">Combination, integration and other acquisition-related<div style="display:inline-block;width:4.74px"> </div>expenses in the Company’s Condensed<div style="display:inline-block;width:4.74px"> </div>Consolidated Statements of Operations.<div style="display:inline-block;width:4.27px"> </div></div><div id="a5590" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:299.9px;">Certain pro forma and other information is not presented,<div style="display:inline-block;width:4.78px"> </div>as the operations of the acquired businesses are not considered material to </div><div id="a5632" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:315.2px;">the overall operations of the Company for the periods presented.</div></div><div id="TextBlockContainer12" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:130px;height:16px;display:inline-block;"><div id="a5653" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Previous Acquisitions</div></div><div id="TextBlockContainer14" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:93px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a5657" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">In December 2020,<div style="display:inline-block;width:3.96px"> </div>the Company completed its acquisition of Coral Chemical Company<div style="display:inline-block;width:4.73px"> </div>(“Coral”), a privately held, U.S.-based </div><div id="a5697" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.2px;">provider of metal finishing fluid solutions.<div style="display:inline-block;width:7.77px"> </div>The acquisition provides technical expertise and product solutions<div style="display:inline-block;width:4.77px"> </div>for pre-treatment, </div><div id="a5732" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.6px;">metalworking and wastewater treatment applications<div style="display:inline-block;width:4.77px"> </div>to the beverage cans and general industrial end markets.<div style="display:inline-block;width:7.93px"> </div>The original purchase </div><div id="a5768" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">price was approximately $</div><div id="a5768_25_4" style="position:absolute;left:145.573px;top:45.9px;">54.1</div><div id="a5768_29_103" style="position:absolute;font-weight:normal;font-style:normal;left:168.933px;top:45.9px;"><div style="display:inline-block;width:3.36px"> </div>million, subject to routine and customary post-closing adjustments related<div style="display:inline-block;width:4.92px"> </div>to working capital and net </div><div id="a5808" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">indebtedness levels.<div style="display:inline-block;width:7.25px"> </div>The Company anticipates finalizing its post-closing adjustments<div style="display:inline-block;width:4.87px"> </div>for the Coral acquisition in the second quarter of </div><div id="a5847" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.7px;">2021 and currently estimates it will receive approximately<div style="display:inline-block;width:4.75px"> </div>$</div><div id="a5847_60_3" style="position:absolute;left:325.133px;top:76.7px;">0.4</div><div id="a5847_63_36" style="position:absolute;font-weight:normal;font-style:normal;left:341.933px;top:76.7px;"><div style="display:inline-block;width:3.36px"> </div>million to settle such adjustments.</div></div><div id="TextBlockContainer16" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:519px;height:16px;display:inline-block;"><div id="a5876" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">The following table presents the preliminary estimated fair<div style="display:inline-block;width:4.68px"> </div>values of Coral net assets acquired:</div></div><div id="TextBlockContainer20" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:703px;height:287px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_18_XBRL_TS_66687ce8d476422e9e0b66f50ce2769f" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer19" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:703px;height:287px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a5910" style="position:absolute;font-weight:bold;font-style:normal;left:508.2px;top:0px;">Measurement </div><div id="a5913" style="position:absolute;font-weight:bold;font-style:normal;left:610.64px;top:0px;">December 22, </div><div id="a5920" style="position:absolute;font-weight:bold;font-style:normal;left:406.6px;top:17.6px;">December 22, </div><div id="a5923" style="position:absolute;font-weight:bold;font-style:normal;left:528.52px;top:17.6px;">Period </div><div id="a5926" style="position:absolute;font-weight:bold;font-style:normal;left:636.24px;top:17.6px;">2020 </div><div id="a5932" style="position:absolute;font-weight:bold;font-style:normal;left:422.76px;top:35.2px;">2020 (1) </div><div id="a5935" style="position:absolute;font-weight:bold;font-style:normal;left:511.08px;top:35.2px;">Adjustments </div><div id="a5938" style="position:absolute;font-weight:bold;font-style:normal;left:613.04px;top:35.2px;">(as adjusted) </div><div id="a5942" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:52.3px;">Cash and cash equivalents </div><div id="a5944" style="position:absolute;font-weight:normal;font-style:normal;left:400.52px;top:52.3px;">$ </div><div id="a5946" style="position:absolute;left:466.6px;top:52.3px;">958</div><div id="a5949" style="position:absolute;font-weight:normal;font-style:normal;left:502.44px;top:52.3px;">$ </div><div id="a5951" style="position:absolute;left:575.28px;top:52.3px;">—</div><div id="a5954" style="position:absolute;font-weight:normal;font-style:normal;left:604.56px;top:52.3px;">$ </div><div id="a5956" style="position:absolute;left:670.64px;top:52.3px;">958</div><div id="a5960" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:66.6px;">Accounts receivable </div><div id="a5963" style="position:absolute;left:456.52px;top:66.6px;">8,473</div><div id="a5967" style="position:absolute;left:575.28px;top:66.6px;">—</div><div id="a5971" style="position:absolute;left:660.56px;top:66.6px;">8,473</div><div id="a5975" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.6px;">Inventories </div><div id="a5978" style="position:absolute;left:456.52px;top:81.6px;">4,527</div><div id="a5982" style="position:absolute;left:575.28px;top:81.6px;">—</div><div id="a5986" style="position:absolute;left:660.56px;top:81.6px;">4,527</div><div id="a5990" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:96.6px;">Prepaid expenses and other assets </div><div id="a5993" style="position:absolute;left:466.6px;top:96.6px;">181</div><div id="a5997" style="position:absolute;left:575.28px;top:96.6px;">—</div><div id="a6001" style="position:absolute;left:670.64px;top:96.6px;">181</div><div id="a6005" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:111.7px;">Property, plant and<div style="display:inline-block;width:4.72px"> </div>equipment </div><div id="a6008" style="position:absolute;left:449.96px;top:111.7px;">10,467</div><div id="a6012" style="position:absolute;left:568.56px;top:111.7px;">652</div><div id="a6016" style="position:absolute;left:654px;top:111.7px;">11,119</div><div id="a6020" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:126.6px;">Intangible assets </div><div id="a6023" style="position:absolute;left:449.96px;top:126.6px;">30,300</div><div id="a6027" style="position:absolute;left:563.6px;top:126.6px;">(500)</div><div id="a6031" style="position:absolute;left:654px;top:126.6px;">29,800</div><div id="a6035" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:141.6px;">Goodwill </div><div id="a6038" style="position:absolute;left:456.52px;top:141.6px;">2,814</div><div id="a6042" style="position:absolute;left:575.28px;top:141.6px;">53</div><div id="a6046" style="position:absolute;left:660.56px;top:141.6px;">2,867</div><div id="a6051" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:157.3px;">Total assets purchased </div><div id="a6054" style="position:absolute;left:449.96px;top:157.3px;">57,720</div><div id="a6058" style="position:absolute;left:568.56px;top:157.3px;">205</div><div id="a6062" style="position:absolute;left:654px;top:157.3px;">57,925</div><div id="a6066" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:171.7px;">Long-term debt including current portions and finance leases </div><div id="a6071" style="position:absolute;left:466.6px;top:171.7px;">183</div><div id="a6075" style="position:absolute;left:568.56px;top:171.7px;">556</div><div id="a6079" style="position:absolute;left:670.64px;top:171.7px;">739</div><div id="a6083" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:186.6px;">Accounts payable, accrued expenses and other accrued<div style="display:inline-block;width:4.7px"> </div>liabilities </div><div id="a6088" style="position:absolute;left:456.52px;top:186.6px;">3,482</div><div id="a6092" style="position:absolute;left:575.28px;top:186.6px;">—</div><div id="a6096" style="position:absolute;left:660.56px;top:186.6px;">3,482</div><div id="a6101" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:203.4px;">Total liabilities assumed </div><div id="a6104" style="position:absolute;left:456.52px;top:203.4px;">3,665</div><div id="a6108" style="position:absolute;left:568.56px;top:203.4px;">556</div><div id="a6112" style="position:absolute;left:660.56px;top:203.4px;">4,221</div><div id="a6117" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:220.4px;">Total consideration<div style="display:inline-block;width:4.76px"> </div>paid for Coral </div><div id="a6120" style="position:absolute;left:449.96px;top:220.4px;">54,055</div><div id="a6124" style="position:absolute;left:563.6px;top:220.4px;">(351)</div><div id="a6128" style="position:absolute;left:654px;top:220.4px;">53,704</div><div id="a6133" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:237.3px;">Less: estimated purchase price settlement </div><div id="a6136" style="position:absolute;left:473.32px;top:237.3px;">—</div><div id="a6140" style="position:absolute;left:563.6px;top:237.3px;">(351)</div><div id="a6144" style="position:absolute;left:665.68px;top:237.3px;">(351)</div><div id="a6149" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:254.3px;">Less: cash acquired </div><div id="a6152" style="position:absolute;font-weight:normal;font-style:normal;left:466.6px;top:254.3px;">958 </div><div id="a6157" style="position:absolute;font-weight:normal;font-style:normal;left:575.28px;top:254.3px;">— </div><div id="a6161" style="position:absolute;font-weight:normal;font-style:normal;left:670.64px;top:254.3px;">958 </div><div id="a6166" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:271.4px;">Net cash paid for Coral </div><div id="a6168" style="position:absolute;font-weight:normal;font-style:normal;left:400.52px;top:271.4px;">$ </div><div id="a6170" style="position:absolute;left:449.96px;top:271.4px;">53,097</div><div id="a6173" style="position:absolute;font-weight:normal;font-style:normal;left:502.44px;top:271.4px;">$ </div><div id="a6175" style="position:absolute;left:575.28px;top:271.4px;">—</div><div id="a6178" style="position:absolute;font-weight:normal;font-style:normal;left:604.56px;top:271.4px;">$ </div><div id="a6180" style="position:absolute;left:654px;top:271.4px;">53,097</div></div></div></div><div id="TextBlockContainer22" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:354px;height:16px;display:inline-block;"><div id="a6183" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">(1) As previously disclosed in the Company’s<div style="display:inline-block;width:5.2px"> </div>2020 Form 10-K. </div></div><div id="TextBlockContainer24" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:726px;height:93px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a6256" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">Measurement period adjustments recorded during the first<div style="display:inline-block;width:4.73px"> </div>quarter of 2021 include certain adjustments related to refining<div style="display:inline-block;width:4.73px"> </div>original </div><div id="a6291" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">estimates for assets and liabilities for certain acquired<div style="display:inline-block;width:4.62px"> </div>finance leases, as well the adjustment to reflect the expected<div style="display:inline-block;width:4.81px"> </div>settlement of post-</div><div id="a6334" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">closing working capital and net indebtedness true ups to<div style="display:inline-block;width:4.79px"> </div>the original purchase price.<div style="display:inline-block;width:7.32px"> </div>As of March 31, 2021,<div style="display:inline-block;width:3.96px"> </div>the allocation of the </div><div id="a6379" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">purchase price for Coral has not been finalized and the </div><div id="a6379_56_8" style="position:absolute;left:299.373px;top:45.9px;-sec-ix-hidden:ID_552;">one-year</div><div id="a6379_64_63" style="position:absolute;font-weight:normal;font-style:normal;left:345.933px;top:45.9px;"><div style="display:inline-block;width:3.36px"> </div>measurement period has not ended.<div style="display:inline-block;width:7.52px"> </div>Further adjustments may be </div><div id="a6421" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">necessary as a result of the Company’s<div style="display:inline-block;width:5.12px"> </div>on-going assessment of additional information related to the<div style="display:inline-block;width:4.8px"> </div>fair value of assets acquired and </div><div id="a6465" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.6px;">liabilities assumed.</div></div><div id="TextBlockContainer26" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:354px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a6470" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">In May 2020, the Company acquired Tel<div style="display:inline-block;width:5.47px"> </div>Nordic ApS (“TEL”), a company that specializes in lubricants and engineering<div style="display:inline-block;width:4.89px"> </div>primarily </div><div id="a6508" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">in high pressure aluminum die casting for its Europe,<div style="display:inline-block;width:4.8px"> </div>Middle East and Africa (“EMEA”) reportable segment.<div style="display:inline-block;width:7.78px"> </div>Consideration<div style="display:inline-block;width:3.57px"> </div>paid was </div><div id="a6547" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">in the form of a convertible promissory note in the amount<div style="display:inline-block;width:4.8px"> </div>of </div><div id="a6547_62_4" style="position:absolute;left:334.893px;top:30.7px;">20.0</div><div id="a6547_66_32" style="position:absolute;font-weight:normal;font-style:normal;left:358.253px;top:30.7px;"><div style="display:inline-block;width:3.36px"> </div>million DKK, or approximately $</div><div id="a6547_98_3" style="position:absolute;left:540.52px;top:30.7px;">2.9</div><div id="a6547_101_20" style="position:absolute;font-weight:normal;font-style:normal;left:557.16px;top:30.7px;"><div style="display:inline-block;width:3.36px"> </div>million, which was </div><div id="a6589" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">subsequently converted into shares of the Company’s<div style="display:inline-block;width:5.3px"> </div>common stock.<div style="display:inline-block;width:7.17px"> </div>An adjustment to the purchase price of approximately </div><div id="a6589_120_3" style="position:absolute;left:671.44px;top:45.9px;">0.4</div><div id="a6589_123_1" style="position:absolute;font-weight:normal;font-style:normal;left:688.24px;top:45.9px;"> </div><div id="a6625" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">million DKK, or less than $</div><div id="a6625_27_3" style="position:absolute;left:152.773px;top:61.3px;">0.1</div><div id="a6625_30_107" style="position:absolute;font-weight:normal;font-style:normal;left:169.253px;top:61.3px;"><div style="display:inline-block;width:3.36px"> </div>million, was made as a result of finalizing a post-closing<div style="display:inline-block;width:4.82px"> </div>settlement in the second quarter of 2020.<div style="display:inline-block;width:7.57px"> </div>The </div><div id="a6675" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.6px;">Company allocated approximately $</div><div id="a6675_33_3" style="position:absolute;left:198.213px;top:76.6px;">2.4</div><div id="a6675_36_73" style="position:absolute;font-weight:normal;font-style:normal;left:214.853px;top:76.6px;"><div style="display:inline-block;width:3.4px"> </div>million of the purchase price to intangible assets to be amortized<div style="display:inline-block;width:4.74px"> </div>over </div><div id="a6675_109_2" style="position:absolute;left:593.04px;top:76.6px;">17</div><div id="a6675_111_22" style="position:absolute;font-weight:normal;font-style:normal;left:606.48px;top:76.6px;"><div style="display:inline-block;width:3.2px"> </div>years.<div style="display:inline-block;width:6.9px"> </div>In addition, </div><div id="a6716" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:92px;">the Company recorded approximately $</div><div id="a6716_36_3" style="position:absolute;left:216.293px;top:92px;">0.5</div><div id="a6716_39_93" style="position:absolute;font-weight:normal;font-style:normal;left:232.973px;top:92px;"><div style="display:inline-block;width:3.36px"> </div>million of goodwill, related to expected value not allocated to<div style="display:inline-block;width:4.71px"> </div>other acquired assets, none </div><div id="a6754" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:107.4px;">of which will be tax deductible.<div style="display:inline-block;width:7.54px"> </div>As of March 31, 2021, the allocation of the purchase price<div style="display:inline-block;width:4.7px"> </div>of TEL has not been finalized and the </div><div id="a6754_131_4" style="position:absolute;left:699.119px;top:107.4px;-sec-ix-hidden:ID_551;">one-</div><div id="a6807_4_125" style="position:absolute;font-weight:normal;font-style:normal;left:27.467px;top:122.8px;"><div style="display:inline-block;width:3.36px"> </div>measurement period has not ended.<div style="display:inline-block;width:7.56px"> </div>Further adjustments may be necessary as a result of the Company’s<div style="display:inline-block;width:5.63px"> </div>on-going assessment of </div><div id="a6849" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:138.1px;">additional information related to the fair value of assets acquired<div style="display:inline-block;width:4.92px"> </div>and liabilities assumed. </div><div id="a6875" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:161.3px;">In March 2020, the Company acquired the remaining </div><div id="a6875_50_2" style="position:absolute;left:315.693px;top:161.3px;">49</div><div id="a6875_52_68" style="position:absolute;font-weight:normal;font-style:normal;left:328.973px;top:161.3px;">% ownership interest in one of its South African affiliates,<div style="display:inline-block;width:4.76px"> </div>Quaker </div><div id="a6914" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:176.7px;">Chemical South Africa Limited (“QSA”) for </div><div id="a6914_42_4" style="position:absolute;left:245.933px;top:176.7px;">16.7</div><div id="a6914_46_32" style="position:absolute;font-weight:normal;font-style:normal;left:269.293px;top:176.7px;"><div style="display:inline-block;width:3.36px"> </div>million ZAR, or approximately $</div><div id="a6914_78_3" style="position:absolute;left:449.32px;top:176.7px;">1.0</div><div id="a6914_81_44" style="position:absolute;font-weight:normal;font-style:normal;left:466.12px;top:176.7px;"><div style="display:inline-block;width:3.2px"> </div>million, from its joint venture partner PQ </div><div id="a6953" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:192px;">Holdings South Africa.<div style="display:inline-block;width:7.34px"> </div>QSA is a part of the Company’s<div style="display:inline-block;width:4.77px"> </div>Europe, Middle East and Africa (“EMEA”) reportable segment.<div style="display:inline-block;width:8.07px"> </div>As this </div><div id="a6993" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:207.4px;">acquisition was a change in an existing controlling ownership,<div style="display:inline-block;width:4.93px"> </div>the Company recorded $</div><div id="a6993_85_3" style="position:absolute;left:471.72px;top:207.4px;">0.7</div><div id="a6993_88_43" style="position:absolute;font-weight:normal;font-style:normal;left:488.2px;top:207.4px;"><div style="display:inline-block;width:3.36px"> </div>million of excess purchase price over the </div><div id="a7034" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:222.8px;">carrying value of the non-controlling interest in Capital<div style="display:inline-block;width:4.71px"> </div>in excess of par value.<div style="display:inline-block;width:7.1px"> </div></div><div id="a7063" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:246px;">In October 2019, the Company completed its acquisition<div style="display:inline-block;width:4.71px"> </div>of the operating divisions of Norman Hay plc (“Norman<div style="display:inline-block;width:4.7px"> </div>Hay”), a private </div><div id="a7103" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:261.3px;">U.K. company that provides specialty chemicals, operating<div style="display:inline-block;width:4.64px"> </div>equipment, and services to industrial end markets.<div style="display:inline-block;width:8.04px"> </div>The acquisition adds </div><div id="a7138" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:276.7px;">new technologies in automotive, original equipment<div style="display:inline-block;width:4.74px"> </div>manufacturer, and aerospace, as well as engineering<div style="display:inline-block;width:4.99px"> </div>expertise which is expected </div><div id="a7172" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:292px;">to strengthen the Company’s<div style="display:inline-block;width:4.82px"> </div>existing equipment solutions platform.<div style="display:inline-block;width:7.6px"> </div>The original purchase price was </div><div id="a7172_100_4" style="position:absolute;left:547.72px;top:292px;">80.0</div><div id="a7172_104_29" style="position:absolute;font-weight:normal;font-style:normal;left:571.12px;top:292px;"><div style="display:inline-block;width:3.36px"> </div>million GBP,<div style="display:inline-block;width:5.03px"> </div>on a cash-free </div><div id="a7212" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:307.4px;">and debt-free basis, subject to routine and customary<div style="display:inline-block;width:4.76px"> </div>post-closing adjustments related to working capital and<div style="display:inline-block;width:4.58px"> </div>net indebtedness levels.<div style="display:inline-block;width:3.68px"> </div></div><div id="a7252" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:322.6px;">The Company finalized its post-closing adjustments for the<div style="display:inline-block;width:4.66px"> </div>Norman Hay acquisition and paid approximately </div><div id="a7252_105_3" style="position:absolute;left:587.599px;top:322.6px;">2.5</div><div id="a7252_108_20" style="position:absolute;font-weight:normal;font-style:normal;left:604.239px;top:322.6px;"><div style="display:inline-block;width:3.36px"> </div>million GBP during </div><div id="a7290" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:338px;">the first quarter of 2020 to settle such adjustments.</div></div> 25000000 19600000 18300000 P19Y 900000 P14Y 400000 P3Y 5000000.0 0.38 1400000 1700000 54100000 400000 <div id="TextBlockContainer19" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:703px;height:287px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a5910" style="position:absolute;font-weight:bold;font-style:normal;left:508.2px;top:0px;">Measurement </div><div id="a5913" style="position:absolute;font-weight:bold;font-style:normal;left:610.64px;top:0px;">December 22, </div><div id="a5920" style="position:absolute;font-weight:bold;font-style:normal;left:406.6px;top:17.6px;">December 22, </div><div id="a5923" style="position:absolute;font-weight:bold;font-style:normal;left:528.52px;top:17.6px;">Period </div><div id="a5926" style="position:absolute;font-weight:bold;font-style:normal;left:636.24px;top:17.6px;">2020 </div><div id="a5932" style="position:absolute;font-weight:bold;font-style:normal;left:422.76px;top:35.2px;">2020 (1) </div><div id="a5935" style="position:absolute;font-weight:bold;font-style:normal;left:511.08px;top:35.2px;">Adjustments </div><div id="a5938" style="position:absolute;font-weight:bold;font-style:normal;left:613.04px;top:35.2px;">(as adjusted) </div><div id="a5942" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:52.3px;">Cash and cash equivalents </div><div id="a5944" style="position:absolute;font-weight:normal;font-style:normal;left:400.52px;top:52.3px;">$ </div><div id="a5946" style="position:absolute;left:466.6px;top:52.3px;">958</div><div id="a5949" style="position:absolute;font-weight:normal;font-style:normal;left:502.44px;top:52.3px;">$ </div><div id="a5951" style="position:absolute;left:575.28px;top:52.3px;">—</div><div id="a5954" style="position:absolute;font-weight:normal;font-style:normal;left:604.56px;top:52.3px;">$ </div><div id="a5956" style="position:absolute;left:670.64px;top:52.3px;">958</div><div id="a5960" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:66.6px;">Accounts receivable </div><div id="a5963" style="position:absolute;left:456.52px;top:66.6px;">8,473</div><div id="a5967" style="position:absolute;left:575.28px;top:66.6px;">—</div><div id="a5971" style="position:absolute;left:660.56px;top:66.6px;">8,473</div><div id="a5975" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.6px;">Inventories </div><div id="a5978" style="position:absolute;left:456.52px;top:81.6px;">4,527</div><div id="a5982" style="position:absolute;left:575.28px;top:81.6px;">—</div><div id="a5986" style="position:absolute;left:660.56px;top:81.6px;">4,527</div><div id="a5990" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:96.6px;">Prepaid expenses and other assets </div><div id="a5993" style="position:absolute;left:466.6px;top:96.6px;">181</div><div id="a5997" style="position:absolute;left:575.28px;top:96.6px;">—</div><div id="a6001" style="position:absolute;left:670.64px;top:96.6px;">181</div><div id="a6005" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:111.7px;">Property, plant and<div style="display:inline-block;width:4.72px"> </div>equipment </div><div id="a6008" style="position:absolute;left:449.96px;top:111.7px;">10,467</div><div id="a6012" style="position:absolute;left:568.56px;top:111.7px;">652</div><div id="a6016" style="position:absolute;left:654px;top:111.7px;">11,119</div><div id="a6020" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:126.6px;">Intangible assets </div><div id="a6023" style="position:absolute;left:449.96px;top:126.6px;">30,300</div><div id="a6027" style="position:absolute;left:563.6px;top:126.6px;">(500)</div><div id="a6031" style="position:absolute;left:654px;top:126.6px;">29,800</div><div id="a6035" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:141.6px;">Goodwill </div><div id="a6038" style="position:absolute;left:456.52px;top:141.6px;">2,814</div><div id="a6042" style="position:absolute;left:575.28px;top:141.6px;">53</div><div id="a6046" style="position:absolute;left:660.56px;top:141.6px;">2,867</div><div id="a6051" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:157.3px;">Total assets purchased </div><div id="a6054" style="position:absolute;left:449.96px;top:157.3px;">57,720</div><div id="a6058" style="position:absolute;left:568.56px;top:157.3px;">205</div><div id="a6062" style="position:absolute;left:654px;top:157.3px;">57,925</div><div id="a6066" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:171.7px;">Long-term debt including current portions and finance leases </div><div id="a6071" style="position:absolute;left:466.6px;top:171.7px;">183</div><div id="a6075" style="position:absolute;left:568.56px;top:171.7px;">556</div><div id="a6079" style="position:absolute;left:670.64px;top:171.7px;">739</div><div id="a6083" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:186.6px;">Accounts payable, accrued expenses and other accrued<div style="display:inline-block;width:4.7px"> </div>liabilities </div><div id="a6088" style="position:absolute;left:456.52px;top:186.6px;">3,482</div><div id="a6092" style="position:absolute;left:575.28px;top:186.6px;">—</div><div id="a6096" style="position:absolute;left:660.56px;top:186.6px;">3,482</div><div id="a6101" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:203.4px;">Total liabilities assumed </div><div id="a6104" style="position:absolute;left:456.52px;top:203.4px;">3,665</div><div id="a6108" style="position:absolute;left:568.56px;top:203.4px;">556</div><div id="a6112" style="position:absolute;left:660.56px;top:203.4px;">4,221</div><div id="a6117" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:220.4px;">Total consideration<div style="display:inline-block;width:4.76px"> </div>paid for Coral </div><div id="a6120" style="position:absolute;left:449.96px;top:220.4px;">54,055</div><div id="a6124" style="position:absolute;left:563.6px;top:220.4px;">(351)</div><div id="a6128" style="position:absolute;left:654px;top:220.4px;">53,704</div><div id="a6133" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:237.3px;">Less: estimated purchase price settlement </div><div id="a6136" style="position:absolute;left:473.32px;top:237.3px;">—</div><div id="a6140" style="position:absolute;left:563.6px;top:237.3px;">(351)</div><div id="a6144" style="position:absolute;left:665.68px;top:237.3px;">(351)</div><div id="a6149" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:254.3px;">Less: cash acquired </div><div id="a6152" style="position:absolute;font-weight:normal;font-style:normal;left:466.6px;top:254.3px;">958 </div><div id="a6157" style="position:absolute;font-weight:normal;font-style:normal;left:575.28px;top:254.3px;">— </div><div id="a6161" style="position:absolute;font-weight:normal;font-style:normal;left:670.64px;top:254.3px;">958 </div><div id="a6166" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:271.4px;">Net cash paid for Coral </div><div id="a6168" style="position:absolute;font-weight:normal;font-style:normal;left:400.52px;top:271.4px;">$ </div><div id="a6170" style="position:absolute;left:449.96px;top:271.4px;">53,097</div><div id="a6173" style="position:absolute;font-weight:normal;font-style:normal;left:502.44px;top:271.4px;">$ </div><div id="a6175" style="position:absolute;left:575.28px;top:271.4px;">—</div><div id="a6178" style="position:absolute;font-weight:normal;font-style:normal;left:604.56px;top:271.4px;">$ </div><div id="a6180" style="position:absolute;left:654px;top:271.4px;">53,097</div></div> 958000 0 958000 8473000 0 8473000 4527000 0 4527000 181000 0 181000 10467000 652000 11119000 30300000 -500000 29800000 2814000 53000 2867000 57720000 205000 57925000 183000 556000 739000 3482000 0 3482000 3665000 556000 4221000 54055000 -351000 53704000 0 -351000 -351000 53097000 0 53097000 20000000.0 2900000 400000 100000 2400000 P17Y 500000 0.49 16700000 1000000.0 700000 80000000.0 2500000 <div id="TextBlockContainer28" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:730px;height:346px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a7309" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 3 – Recently Issued Accounting Standards </div><div id="a7323" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:24.3px;">Recently Issued Accounting Standards<div style="display:inline-block;width:4.89px"> </div>Adopted </div><div id="a7333" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:46.2px;">The Financial Accounting Standards Board (“FASB”)<div style="display:inline-block;width:5.59px"> </div>issued Account Standards Update (“ASU”)</div><div id="a7354" style="position:absolute;font-size:14.72px;font-weight:normal;font-style:normal;left:550.6px;top:44.9px;"> </div><div id="a7355" style="position:absolute;font-weight:normal;font-style:normal;left:554.28px;top:46.2px;">ASU 2019-12</div><div id="a7360" style="position:absolute;font-weight:normal;font-style:italic;left:629.04px;top:46.2px;">, Income Taxes </div><div id="a7366" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:61.6px;">(Topic<div style="display:inline-block;width:4.82px"> </div>740): Simplifying the Accounting for Income Taxes</div><div id="a7381" style="position:absolute;font-weight:normal;font-style:normal;left:315.373px;top:61.6px;"><div style="display:inline-block;width:3.36px"> </div>in December 2019 to simplify the accounting for income taxes.<div style="display:inline-block;width:8.15px"> </div>The </div><div id="a7404" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:77px;">guidance within this accounting standard update<div style="display:inline-block;width:4.56px"> </div>removes certain exceptions, including the exception to the<div style="display:inline-block;width:4.8px"> </div>incremental approach for </div><div id="a7438" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:92.3px;">certain intra-period tax allocations, to the requirement<div style="display:inline-block;width:4.75px"> </div>to recognize or not recognize certain deferred tax liabilities for<div style="display:inline-block;width:4.88px"> </div>equity method </div><div id="a7479" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:107.7px;">investments and foreign subsidiaries, and to the general<div style="display:inline-block;width:4.71px"> </div>methodology for calculating income taxes in an interim period<div style="display:inline-block;width:4.64px"> </div>when a year-to-</div><div id="a7521" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:123px;">date loss exceeds the anticipated loss for the year.<div style="display:inline-block;width:8.73px"> </div>Further, the guidance simplifies the accounting<div style="display:inline-block;width:4.76px"> </div>related to franchise taxes, the step </div><div id="a7564" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:138.2px;">up in tax basis for goodwill, current and deferred tax<div style="display:inline-block;width:4.7px"> </div>expense, and codification improvements for income taxes related<div style="display:inline-block;width:4.74px"> </div>to employee </div><div id="a7604" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153.6px;">stock ownership plans.<div style="display:inline-block;width:7.32px"> </div>The guidance is effective for annual and interim<div style="display:inline-block;width:4.59px"> </div>periods beginning after December 15, 2020.<div style="display:inline-block;width:7.82px"> </div>The Company </div><div id="a7643" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:169px;">adopted this standard on a prospective basis, effective<div style="display:inline-block;width:4.86px"> </div>January 1, 2021.<div style="display:inline-block;width:7.1px"> </div>There was no cumulative effect of adoption recorded<div style="display:inline-block;width:4.73px"> </div>within </div><div id="a7685" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:184.3px;">retained earnings on January 1, 2021. </div><div id="a7699" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:207.7px;">The FASB issued<div style="display:inline-block;width:4.75px"> </div>ASU 2020-04, </div><div id="a7711" style="position:absolute;font-weight:normal;font-style:italic;left:207.173px;top:207.7px;">Reference Rate Reform (To<div style="display:inline-block;width:2.27px"> </div>pic 848): Facilitation of the Effects of Reference<div style="display:inline-block;width:4.81px"> </div>Rate Reform on </div><div id="a7740" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:222.9px;">Financial Reporting</div><div id="a7743" style="position:absolute;font-weight:normal;font-style:normal;left:113.093px;top:222.9px;"><div style="display:inline-block;width:3.36px"> </div>in March 2020.<div style="display:inline-block;width:6.97px"> </div>The FASB subsequently<div style="display:inline-block;width:4.78px"> </div>issued ASU 2021-01, </div><div id="a7765" style="position:absolute;font-weight:normal;font-style:italic;left:456.52px;top:222.9px;">Reference Rate Reform (Topic<div style="display:inline-block;width:5.57px"> </div>848): Scope</div><div id="a7776" style="position:absolute;font-weight:normal;font-style:normal;left:685.68px;top:222.9px;"><div style="display:inline-block;width:3.36px"> </div>in </div><div id="a7779" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:238.3px;">January 2021 which clarified the guidance but did<div style="display:inline-block;width:4.58px"> </div>not materially change the guidance or its applicability to<div style="display:inline-block;width:4.78px"> </div>the Company.<div style="display:inline-block;width:7.64px"> </div>The </div><div id="a7820" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:253.6px;">amendments provide temporary optional expedients and<div style="display:inline-block;width:4.76px"> </div>exceptions for applying U.S. GAAP to contract modifications,<div style="display:inline-block;width:4.54px"> </div>hedging </div><div id="a7850" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:269px;">relationships and other transactions to ease the potential<div style="display:inline-block;width:4.8px"> </div>accounting and financial reporting burden associated with transitioning<div style="display:inline-block;width:5.11px"> </div>away </div><div id="a7884" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:284.4px;">from reference rates that are expected to be discontinued,<div style="display:inline-block;width:4.84px"> </div>including the London Interbank Offered Rate (“LIBOR”).<div style="display:inline-block;width:8.23px"> </div>ASU 2020-04 is </div><div id="a7925" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:299.7px;">effective for the Company as of March 12,<div style="display:inline-block;width:4.61px"> </div>2020 and generally can be applied through December 31, 2022.<div style="display:inline-block;width:8.09px"> </div>As of March 31, 2021, the </div><div id="a7973" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:314.9px;">expedients provided in ASU 2020-04 do not presently<div style="display:inline-block;width:4.74px"> </div>impact the Company; however, the Company<div style="display:inline-block;width:4.8px"> </div>will continue to monitor for </div><div id="a8014" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:330.3px;">potential impacts on its consolidated financial statements.</div></div> <div id="TextBlockContainer32" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:729px;height:216px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a8078" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 4 – Business Segments </div><div id="div_30_XBRL_TS_78797eca5d804e5a81d000fca15d3224" style="position:absolute;left:0px;top:23.4px;float:left;"><div id="TextBlockContainer31" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:729px;height:93px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a8088" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The Company’s operating<div style="display:inline-block;width:4.81px"> </div>segments, which are consistent with its reportable segments,<div style="display:inline-block;width:4.7px"> </div>reflect the structure of the Company’s </div><div id="a8122" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">internal organization, the method by which<div style="display:inline-block;width:4.78px"> </div>the Company’s resources are allocated<div style="display:inline-block;width:4.86px"> </div>and the manner by which the chief operating </div><div id="a8160" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.6px;">decision maker assesses the Company’s<div style="display:inline-block;width:5.1px"> </div>performance.<div style="display:inline-block;width:7.03px"> </div>The Company has </div><div id="a8160_68_4" style="position:absolute;left:398.28px;top:30.6px;">four</div><div id="a8160_72_53" style="position:absolute;font-weight:normal;font-style:normal;left:420.52px;top:30.6px;"><div style="display:inline-block;width:3.2px"> </div>reportable segments: (i) Americas; (ii) EMEA; (iii) </div><div id="a8194" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">Asia/Pacific; and (iv) Global Specialty Businesses.<div style="display:inline-block;width:7.76px"> </div>The three geographic segments are composed of the net<div style="display:inline-block;width:4.81px"> </div>sales and operations in </div><div id="a8233" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">each respective region, excluding net sales and operations<div style="display:inline-block;width:4.85px"> </div>managed globally by the Global Specialty Businesses segment, which </div><div id="a8268" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.6px;">includes the Company’s<div style="display:inline-block;width:4.73px"> </div>container, metal finishing, mining,<div style="display:inline-block;width:4.58px"> </div>offshore, specialty coatings, specialty grease and<div style="display:inline-block;width:4.75px"> </div>Norman Hay businesses.</div></div></div><div id="a8268_132_1" style="position:absolute;font-weight:normal;font-style:normal;left:720.4px;top:100px;"> </div><div id="a8302" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:123.4px;">Segment operating earnings for each of the Company’s<div style="display:inline-block;width:5.54px"> </div>reportable segments are comprised of the segment’s<div style="display:inline-block;width:5.13px"> </div>net sales less directly </div><div id="a8340" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:138.7px;">related cost of goods sold (“COGS”) and selling, general<div style="display:inline-block;width:4.74px"> </div>and administrative expenses (“SG&amp;A”).<div style="display:inline-block;width:7.57px"> </div>Operating expenses not directly </div><div id="a8380" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153.9px;">attributable to the net sales of each respective segment<div style="display:inline-block;width:1.37px"> </div>,<div style="display:inline-block;width:3.4px"> </div>such as certain corporate and administrative costs, Combination,<div style="display:inline-block;width:4.5px"> </div>integration </div><div id="a8418" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:169.3px;">and other acquisition-related expenses, and Restructuring<div style="display:inline-block;width:4.74px"> </div>and related charges,<div style="display:inline-block;width:4.05px"> </div>are not included in segment operating earnings.<div style="display:inline-block;width:7.69px"> </div>Other </div><div id="a8457" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:184.6px;">items not specifically identified with the Company’s<div style="display:inline-block;width:5.34px"> </div>reportable segments include interest expense, net and other<div style="display:inline-block;width:4.71px"> </div>income (expense), </div><div id="a8493" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:200px;">net.</div></div><div id="TextBlockContainer34" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:711px;height:31px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a8495" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The following table presents information about the performance<div style="display:inline-block;width:4.82px"> </div>of the Company’s reportable operating<div style="display:inline-block;width:4.94px"> </div>segments for the three </div><div id="a8529" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">months ended March 31, 2021 and 2020:</div></div><div id="TextBlockContainer38" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:673px;height:442px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_36_XBRL_CS_ff764c7c9c2843e0849dafb07fab15c2" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer37" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:673px;height:442px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a8546" style="position:absolute;font-weight:bold;font-style:normal;left:505.8px;top:0px;">Three Months Ended </div><div id="a8552" style="position:absolute;font-weight:bold;font-style:normal;left:537.2px;top:17px;">March 31,<div style="display:inline-block;width:3.89px"> </div></div><div id="a8558" style="position:absolute;font-weight:bold;font-style:normal;left:503.56px;top:34.2px;">2021 </div><div id="a8561" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:34.2px;">2020 </div><div id="a8565" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:51.4px;">Net sales </div><div id="a8567" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8569" style="position:absolute;font-weight:normal;font-style:normal;left:486.44px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8571" style="position:absolute;font-weight:normal;font-style:normal;left:561.52px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8573" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8575" style="position:absolute;font-weight:normal;font-style:normal;left:585.52px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8577" style="position:absolute;font-weight:normal;font-style:normal;left:660.56px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8581" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:68px;">Americas </div><div id="a8583" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:68px;">$ </div><div id="a8585" style="position:absolute;left:512.2px;top:68px;">134,871</div><div id="a8588" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:68px;">$ </div><div id="a8590" style="position:absolute;left:611.28px;top:68px;">129,896</div><div id="a8595" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:85px;">EMEA </div><div id="a8597" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:85px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8599" style="position:absolute;left:512.2px;top:85px;">119,814</div><div id="a8602" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:85px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8604" style="position:absolute;left:611.28px;top:85px;">104,839</div><div id="a8609" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:101.9px;">Asia/Pacific </div><div id="a8611" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:101.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8613" style="position:absolute;left:518.92px;top:101.9px;">96,706</div><div id="a8616" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:101.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8618" style="position:absolute;left:618px;top:101.9px;">73,552</div><div id="a8623" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:119px;">Global Specialty Businesses </div><div id="a8625" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:119px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8627" style="position:absolute;left:518.92px;top:119px;">78,392</div><div id="a8630" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:119px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8632" style="position:absolute;left:618px;top:119px;">70,274</div><div id="a8636" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:136.3px;">Total<div style="display:inline-block;width:4.73px"> </div>net sales </div><div id="a8638" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:136.3px;">$ </div><div id="a8640" style="position:absolute;left:512.2px;top:136.3px;">429,783</div><div id="a8643" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:136.3px;">$ </div><div id="a8645" style="position:absolute;left:611.28px;top:136.3px;">378,561</div><div id="a8658" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:169.9px;">Segment operating earnings </div><div id="a8668" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:187.1px;">Americas </div><div id="a8670" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:187.1px;">$ </div><div id="a8672" style="position:absolute;left:518.92px;top:187.1px;">32,234</div><div id="a8675" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:187.1px;">$ </div><div id="a8677" style="position:absolute;left:618px;top:187.1px;">29,188</div><div id="a8682" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:204px;">EMEA </div><div id="a8685" style="position:absolute;left:518.92px;top:204px;">25,244</div><div id="a8689" style="position:absolute;left:618px;top:204px;">18,359</div><div id="a8694" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:221px;">Asia/Pacific </div><div id="a8697" style="position:absolute;left:518.92px;top:221px;">27,478</div><div id="a8701" style="position:absolute;left:618px;top:221px;">19,541</div><div id="a8706" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:237.9px;">Global Specialty Businesses </div><div id="a8708" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:237.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8710" style="position:absolute;left:518.92px;top:237.9px;">24,169</div><div id="a8713" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:237.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8715" style="position:absolute;left:618px;top:237.9px;">20,560</div><div id="a8719" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:255.4px;">Total<div style="display:inline-block;width:4.73px"> </div>segment operating earnings </div><div id="a8721" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:255.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8723" style="position:absolute;left:512.2px;top:255.4px;">109,125</div><div id="a8726" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:255.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8728" style="position:absolute;left:618px;top:255.4px;">87,648</div><div id="a8732" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:272px;">Combination, integration and other acquisition-related<div style="display:inline-block;width:4.74px"> </div>expenses </div><div id="a8737" style="position:absolute;left:520.68px;top:272px;">(5,815)</div><div id="a8741" style="position:absolute;left:619.76px;top:272px;">(7,878)</div><div id="a8745" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:289px;">Restructuring and related charges </div><div id="a8748" style="position:absolute;left:520.68px;top:289px;">(1,175)</div><div id="a8752" style="position:absolute;left:619.76px;top:289px;">(1,716)</div><div id="a8756" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:305.9px;">Fair value step up of acquired inventory sold </div><div id="a8759" style="position:absolute;left:530.6px;top:305.9px;">(801)</div><div id="a8763" style="position:absolute;left:641.36px;top:305.9px;">—</div><div id="a8767" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:323.1px;">Indefinite-lived intangible asset impairment </div><div id="a8772" style="position:absolute;left:542.32px;top:323.1px;">—</div><div id="a8776" style="position:absolute;left:613.04px;top:323.1px;">(38,000)</div><div id="a8780" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:340px;">Non-operating and administrative expenses </div><div id="a8784" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:340px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8786" style="position:absolute;left:513.96px;top:340px;">(40,992)</div><div id="a8789" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:340px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8791" style="position:absolute;left:613.04px;top:340px;">(38,451)</div><div id="a8795" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:357px;">Depreciation of corporate assets and amortization </div><div id="a8797" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:357px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8799" style="position:absolute;left:513.96px;top:357px;">(15,448)</div><div id="a8802" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:357px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8804" style="position:absolute;left:613.04px;top:357px;">(14,047)</div><div id="a8808" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:374.3px;">Operating income (loss) </div><div id="a8811" style="position:absolute;left:518.92px;top:374.3px;">44,894</div><div id="a8815" style="position:absolute;left:613.04px;top:374.3px;">(12,444)</div><div id="a8819" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:391.1px;">Other income (expense), net </div><div id="a8822" style="position:absolute;left:525.48px;top:391.1px;">4,687</div><div id="a8826" style="position:absolute;left:613.04px;top:391.1px;">(21,175)</div><div id="a8830" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:408.1px;">Interest expense, net </div><div id="a8832" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:408.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8834" style="position:absolute;left:520.68px;top:408.1px;">(5,470)</div><div id="a8837" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:408.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8839" style="position:absolute;left:619.76px;top:408.1px;">(8,461)</div><div id="a8843" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:426.1px;">Income (loss) before taxes and equity in net income of<div style="display:inline-block;width:4.83px"> </div>associated companies </div><div id="a8845" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:426.1px;">$ </div><div id="a8847" style="position:absolute;left:518.92px;top:426.1px;">44,111</div><div id="a8850" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:426.1px;">$ </div><div id="a8852" style="position:absolute;left:613.04px;top:426.1px;">(42,080)</div></div></div></div><div id="TextBlockContainer40" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:721px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a8855" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">Inter-segment revenues for the three months ended<div style="display:inline-block;width:4.81px"> </div>March 31, 2021 and 2020 were $</div><div id="a8855_80_3" style="position:absolute;left:479.56px;top:0px;">3.3</div><div id="a8855_83_14" style="position:absolute;font-weight:normal;font-style:normal;left:496.2px;top:0px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a8855_97_3" style="position:absolute;left:570.64px;top:0px;">2.9</div><div id="a8855_100_23" style="position:absolute;font-weight:normal;font-style:normal;left:587.28px;top:0px;"><div style="display:inline-block;width:3.36px"> </div>million for Americas, </div><div id="a8901" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">$</div><div id="a8901_1_3" style="position:absolute;left:11.147px;top:15.4px;">8.8</div><div id="a8901_4_14" style="position:absolute;font-weight:normal;font-style:normal;left:27.947px;top:15.4px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a8901_18_3" style="position:absolute;left:102.373px;top:15.4px;">5.5</div><div id="a8901_21_20" style="position:absolute;font-weight:normal;font-style:normal;left:119.013px;top:15.4px;"><div style="display:inline-block;width:3.36px"> </div>million for EMEA, $</div><div id="a8901_41_3" style="position:absolute;left:234.253px;top:15.4px;">0.1</div><div id="a8901_44_14" style="position:absolute;font-weight:normal;font-style:normal;left:250.893px;top:15.4px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a8901_58_3" style="position:absolute;left:325.293px;top:15.4px;">0.1</div><div id="a8901_61_31" style="position:absolute;font-weight:normal;font-style:normal;left:342.093px;top:15.4px;"><div style="display:inline-block;width:3.36px"> </div>million for Asia/Pacific and $</div><div id="a8901_92_3" style="position:absolute;left:503.879px;top:15.4px;">2.0</div><div id="a8901_95_14" style="position:absolute;font-weight:normal;font-style:normal;left:520.519px;top:15.4px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a8901_109_3" style="position:absolute;left:594.959px;top:15.4px;">1.3</div><div id="a8901_112_20" style="position:absolute;font-weight:normal;font-style:normal;left:611.759px;top:15.4px;"><div style="display:inline-block;width:3.2px"> </div>million for Global </div><div id="a8949" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Specialty Businesses, respectively.<div style="display:inline-block;width:7.68px"> </div>However, all inter-segment transactions<div style="display:inline-block;width:4.77px"> </div>have been eliminated from each reportable operating </div><div id="a8980" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">segment’s net sales and<div style="display:inline-block;width:4.7px"> </div>earnings for all periods presented in the above tables.</div></div> <div id="TextBlockContainer31" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:729px;height:93px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a8088" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The Company’s operating<div style="display:inline-block;width:4.81px"> </div>segments, which are consistent with its reportable segments,<div style="display:inline-block;width:4.7px"> </div>reflect the structure of the Company’s </div><div id="a8122" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">internal organization, the method by which<div style="display:inline-block;width:4.78px"> </div>the Company’s resources are allocated<div style="display:inline-block;width:4.86px"> </div>and the manner by which the chief operating </div><div id="a8160" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.6px;">decision maker assesses the Company’s<div style="display:inline-block;width:5.1px"> </div>performance.<div style="display:inline-block;width:7.03px"> </div>The Company has </div><div id="a8160_68_4" style="position:absolute;left:398.28px;top:30.6px;">four</div><div id="a8160_72_53" style="position:absolute;font-weight:normal;font-style:normal;left:420.52px;top:30.6px;"><div style="display:inline-block;width:3.2px"> </div>reportable segments: (i) Americas; (ii) EMEA; (iii) </div><div id="a8194" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">Asia/Pacific; and (iv) Global Specialty Businesses.<div style="display:inline-block;width:7.76px"> </div>The three geographic segments are composed of the net<div style="display:inline-block;width:4.81px"> </div>sales and operations in </div><div id="a8233" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">each respective region, excluding net sales and operations<div style="display:inline-block;width:4.85px"> </div>managed globally by the Global Specialty Businesses segment, which </div><div id="a8268" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.6px;">includes the Company’s<div style="display:inline-block;width:4.73px"> </div>container, metal finishing, mining,<div style="display:inline-block;width:4.58px"> </div>offshore, specialty coatings, specialty grease and<div style="display:inline-block;width:4.75px"> </div>Norman Hay businesses.</div></div> 4 <div id="TextBlockContainer37" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:673px;height:442px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a8546" style="position:absolute;font-weight:bold;font-style:normal;left:505.8px;top:0px;">Three Months Ended </div><div id="a8552" style="position:absolute;font-weight:bold;font-style:normal;left:537.2px;top:17px;">March 31,<div style="display:inline-block;width:3.89px"> </div></div><div id="a8558" style="position:absolute;font-weight:bold;font-style:normal;left:503.56px;top:34.2px;">2021 </div><div id="a8561" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:34.2px;">2020 </div><div id="a8565" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:51.4px;">Net sales </div><div id="a8567" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8569" style="position:absolute;font-weight:normal;font-style:normal;left:486.44px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8571" style="position:absolute;font-weight:normal;font-style:normal;left:561.52px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8573" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8575" style="position:absolute;font-weight:normal;font-style:normal;left:585.52px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8577" style="position:absolute;font-weight:normal;font-style:normal;left:660.56px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8581" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:68px;">Americas </div><div id="a8583" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:68px;">$ </div><div id="a8585" style="position:absolute;left:512.2px;top:68px;">134,871</div><div id="a8588" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:68px;">$ </div><div id="a8590" style="position:absolute;left:611.28px;top:68px;">129,896</div><div id="a8595" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:85px;">EMEA </div><div id="a8597" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:85px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8599" style="position:absolute;left:512.2px;top:85px;">119,814</div><div id="a8602" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:85px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8604" style="position:absolute;left:611.28px;top:85px;">104,839</div><div id="a8609" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:101.9px;">Asia/Pacific </div><div id="a8611" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:101.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8613" style="position:absolute;left:518.92px;top:101.9px;">96,706</div><div id="a8616" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:101.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8618" style="position:absolute;left:618px;top:101.9px;">73,552</div><div id="a8623" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:119px;">Global Specialty Businesses </div><div id="a8625" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:119px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8627" style="position:absolute;left:518.92px;top:119px;">78,392</div><div id="a8630" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:119px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8632" style="position:absolute;left:618px;top:119px;">70,274</div><div id="a8636" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:136.3px;">Total<div style="display:inline-block;width:4.73px"> </div>net sales </div><div id="a8638" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:136.3px;">$ </div><div id="a8640" style="position:absolute;left:512.2px;top:136.3px;">429,783</div><div id="a8643" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:136.3px;">$ </div><div id="a8645" style="position:absolute;left:611.28px;top:136.3px;">378,561</div><div id="a8658" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:169.9px;">Segment operating earnings </div><div id="a8668" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:187.1px;">Americas </div><div id="a8670" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:187.1px;">$ </div><div id="a8672" style="position:absolute;left:518.92px;top:187.1px;">32,234</div><div id="a8675" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:187.1px;">$ </div><div id="a8677" style="position:absolute;left:618px;top:187.1px;">29,188</div><div id="a8682" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:204px;">EMEA </div><div id="a8685" style="position:absolute;left:518.92px;top:204px;">25,244</div><div id="a8689" style="position:absolute;left:618px;top:204px;">18,359</div><div id="a8694" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:221px;">Asia/Pacific </div><div id="a8697" style="position:absolute;left:518.92px;top:221px;">27,478</div><div id="a8701" style="position:absolute;left:618px;top:221px;">19,541</div><div id="a8706" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:237.9px;">Global Specialty Businesses </div><div id="a8708" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:237.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8710" style="position:absolute;left:518.92px;top:237.9px;">24,169</div><div id="a8713" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:237.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8715" style="position:absolute;left:618px;top:237.9px;">20,560</div><div id="a8719" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:255.4px;">Total<div style="display:inline-block;width:4.73px"> </div>segment operating earnings </div><div id="a8721" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:255.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8723" style="position:absolute;left:512.2px;top:255.4px;">109,125</div><div id="a8726" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:255.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8728" style="position:absolute;left:618px;top:255.4px;">87,648</div><div id="a8732" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:272px;">Combination, integration and other acquisition-related<div style="display:inline-block;width:4.74px"> </div>expenses </div><div id="a8737" style="position:absolute;left:520.68px;top:272px;">(5,815)</div><div id="a8741" style="position:absolute;left:619.76px;top:272px;">(7,878)</div><div id="a8745" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:289px;">Restructuring and related charges </div><div id="a8748" style="position:absolute;left:520.68px;top:289px;">(1,175)</div><div id="a8752" style="position:absolute;left:619.76px;top:289px;">(1,716)</div><div id="a8756" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:305.9px;">Fair value step up of acquired inventory sold </div><div id="a8759" style="position:absolute;left:530.6px;top:305.9px;">(801)</div><div id="a8763" style="position:absolute;left:641.36px;top:305.9px;">—</div><div id="a8767" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:323.1px;">Indefinite-lived intangible asset impairment </div><div id="a8772" style="position:absolute;left:542.32px;top:323.1px;">—</div><div id="a8776" style="position:absolute;left:613.04px;top:323.1px;">(38,000)</div><div id="a8780" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:340px;">Non-operating and administrative expenses </div><div id="a8784" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:340px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8786" style="position:absolute;left:513.96px;top:340px;">(40,992)</div><div id="a8789" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:340px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8791" style="position:absolute;left:613.04px;top:340px;">(38,451)</div><div id="a8795" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:357px;">Depreciation of corporate assets and amortization </div><div id="a8797" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:357px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8799" style="position:absolute;left:513.96px;top:357px;">(15,448)</div><div id="a8802" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:357px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8804" style="position:absolute;left:613.04px;top:357px;">(14,047)</div><div id="a8808" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:374.3px;">Operating income (loss) </div><div id="a8811" style="position:absolute;left:518.92px;top:374.3px;">44,894</div><div id="a8815" style="position:absolute;left:613.04px;top:374.3px;">(12,444)</div><div id="a8819" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:391.1px;">Other income (expense), net </div><div id="a8822" style="position:absolute;left:525.48px;top:391.1px;">4,687</div><div id="a8826" style="position:absolute;left:613.04px;top:391.1px;">(21,175)</div><div id="a8830" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:408.1px;">Interest expense, net </div><div id="a8832" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:408.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8834" style="position:absolute;left:520.68px;top:408.1px;">(5,470)</div><div id="a8837" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:408.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a8839" style="position:absolute;left:619.76px;top:408.1px;">(8,461)</div><div id="a8843" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:426.1px;">Income (loss) before taxes and equity in net income of<div style="display:inline-block;width:4.83px"> </div>associated companies </div><div id="a8845" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:426.1px;">$ </div><div id="a8847" style="position:absolute;left:518.92px;top:426.1px;">44,111</div><div id="a8850" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:426.1px;">$ </div><div id="a8852" style="position:absolute;left:613.04px;top:426.1px;">(42,080)</div></div> 134871000 129896000 119814000 104839000 96706000 73552000 78392000 70274000 429783000 378561000 32234000 29188000 25244000 18359000 27478000 19541000 24169000 20560000 109125000 87648000 5815000 7878000 1175000 1716000 801000 0 0 38000000 40992000 38451000 15448000 14047000 44894000 -12444000 4687000 -21175000 -5470000 -8461000 44111000 -42080000 3300000 2900000 8800000 5500000 100000 100000 2000000.0 1300000 <div id="TextBlockContainer52" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:765px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a9057" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 5 – Net Sales and Revenue Recognition </div><div id="a9073" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:25.6px;">Business Description </div><div id="a9077" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:49px;">The Company develops, produces, and markets a broad<div style="display:inline-block;width:4.77px"> </div>range of formulated chemical specialty products and offers<div style="display:inline-block;width:4.85px"> </div>chemical </div><div id="a9111" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64.3px;">management services (“Fluidcare”) for various heavy<div style="display:inline-block;width:4.74px"> </div>industrial and manufacturing applications throughout its four<div style="display:inline-block;width:4.89px"> </div>segments.<div style="display:inline-block;width:6.78px"> </div>A </div><div id="a9142" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:79.7px;">significant portion of the Company’s<div style="display:inline-block;width:5.02px"> </div>revenues are realized from the sale of process fluids and services<div style="display:inline-block;width:4.8px"> </div>made directly to manufacturers </div><div id="a9183" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:95px;">through its own employees and its Fluidcare programs,<div style="display:inline-block;width:4.76px"> </div>with the balance being handled through distributors and<div style="display:inline-block;width:4.72px"> </div>agents. </div><div id="div_42_XBRL_TS_af29953d559a47c5acdd56efb4e4d52a" style="position:absolute;left:0px;top:118.2px;float:left;"><div id="TextBlockContainer43" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a9217" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">As part of the Company’s<div style="display:inline-block;width:4.84px"> </div>Fluidcare business, certain third-party product sales to customers are<div style="display:inline-block;width:4.79px"> </div>managed by the Company.<div style="display:inline-block;width:8.3px"> </div>Where </div><div id="a9258" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">the Company acts as a principal, revenues are recognized<div style="display:inline-block;width:4.67px"> </div>on a gross reporting basis at the selling price negotiated with<div style="display:inline-block;width:4.77px"> </div>its customers. </div><div id="a9303" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Where the Company acts as an agent, revenue is recognized on<div style="display:inline-block;width:4.88px"> </div>a net reporting basis at the amount of the administrative fee earned<div style="display:inline-block;width:4.74px"> </div>by </div><div id="a9352" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">the Company for ordering the goods.</div></div></div><div id="a9352_35_96" style="position:absolute;font-weight:normal;font-style:normal;left:201.573px;top:164.3px;"><div style="display:inline-block;width:6.72px"> </div>The Company transferred third-party products under arrangements recognized<div style="display:inline-block;width:5.01px"> </div>on a net reporting </div><div id="a9390" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:179.7px;">basis of $</div><div id="a9390_10_4" style="position:absolute;left:55.659px;top:179.7px;">17.8</div><div id="a9390_14_14" style="position:absolute;font-weight:normal;font-style:normal;left:79.019px;top:179.7px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a9390_28_4" style="position:absolute;left:153.413px;top:179.7px;">12.5</div><div id="a9390_32_76" style="position:absolute;font-weight:normal;font-style:normal;left:176.773px;top:179.7px;"><div style="display:inline-block;width:3.36px"> </div>million for the three months ended March 31, 2021 and 2020,<div style="display:inline-block;width:4.72px"> </div>respectively.<div style="display:inline-block;width:4.31px"> </div></div><div id="a9433" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:202.9px;">As previously disclosed in the Company’s<div style="display:inline-block;width:5.29px"> </div>2020 Form 10-K, during 2020,<div style="display:inline-block;width:4.06px"> </div>the Company’s five largest<div style="display:inline-block;width:4.75px"> </div>customers (each composed </div><div id="a9473" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:218.3px;">of multiple subsidiaries or divisions with semiautonomous<div style="display:inline-block;width:4.84px"> </div>purchasing authority) accounted for approximately </div><div id="a9473_108_2" style="position:absolute;left:594.16px;top:218.3px;">10</div><div id="a9473_110_22" style="position:absolute;font-weight:normal;font-style:normal;left:607.6px;top:218.3px;">% of consolidated net </div><div id="a9507" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:233.6px;">sales, with its largest customer accounting<div style="display:inline-block;width:4.72px"> </div>for approximately </div><div id="a9507_62_1" style="position:absolute;left:332.333px;top:233.6px;">3</div><div id="a9507_63_29" style="position:absolute;font-weight:normal;font-style:normal;left:339.053px;top:233.6px;">% of consolidated net sales. </div><div id="a9534" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:257px;">Revenue Recognition Model </div><div id="div_44_XBRL_TS_6f87d1c3576c491e9be171e2b979ed46" style="position:absolute;left:0px;top:280.4px;float:left;"><div id="TextBlockContainer45" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:77px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a9540" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The Company applies the five-step model in the FASB’s<div style="display:inline-block;width:6.16px"> </div>guidance, which requires the Company to: (i) identify<div style="display:inline-block;width:4.86px"> </div>the contract with a </div><div id="a9584" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">customer; (ii) identify the performance obligations in<div style="display:inline-block;width:4.78px"> </div>the contract; (iii) determine the transaction price; (iv) allocate the<div style="display:inline-block;width:4.78px"> </div>transaction </div><div id="a9620" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.6px;">price to the performance obligations in the contract; and<div style="display:inline-block;width:4.68px"> </div>(v) recognize revenue when, or as, the Company satisfies a performance </div><div id="a9660" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">obligation.<div style="display:inline-block;width:7.02px"> </div>Refer to the Company’s 2020<div style="display:inline-block;width:4.77px"> </div>Form 10-K for additional information on the Company’s<div style="display:inline-block;width:5.34px"> </div>revenue recognition policies, </div><div id="a9698" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">including its practical expedients and accounting policy<div style="display:inline-block;width:4.79px"> </div>elections.</div></div></div><div id="a9698_67_3" style="position:absolute;font-weight:normal;font-style:normal;left:355.533px;top:341.6px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a9715" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:365px;">Allowance for Doubtful Accounts </div><div id="a9723" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:388.4px;">As previously disclosed in the Company’s<div style="display:inline-block;width:5.29px"> </div>2020 Form 10-K, during 2020, the Company adopted, as required,<div style="display:inline-block;width:4.8px"> </div>an accounting </div><div id="a9762" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:403.6px;">standard update related to the accounting and disclosure<div style="display:inline-block;width:4.72px"> </div>of credit losses effective January 1, 2020.<div style="display:inline-block;width:7.91px"> </div></div><div id="div_46_XBRL_TS_5a12d86a90f843fb8d2b5e36c13acde9" style="position:absolute;left:0px;top:403.6px;float:left;"><div id="TextBlockContainer47" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:725px;height:108px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a9762_102_26" style="position:absolute;font-weight:normal;font-style:normal;left:534.92px;top:0px;">The Company recognizes an </div><div id="a9800" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">allowance for credit losses, which represents the portion<div style="display:inline-block;width:4.72px"> </div>of its trade accounts receivable that the Company does not expect<div style="display:inline-block;width:4.76px"> </div>to collect </div><div id="a9842" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">over the contractual life, considering past events<div style="display:inline-block;width:4.49px"> </div>and reasonable and supportable forecasts of future economic<div style="display:inline-block;width:4.72px"> </div>conditions.<div style="display:inline-block;width:6.79px"> </div>The </div><div id="a9877" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">Company’s allowance<div style="display:inline-block;width:4.62px"> </div>for credit losses on its trade accounts receivables<div style="display:inline-block;width:4.33px"> </div>is based on specific collectability facts and circumstances for </div><div id="a9916" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.5px;">each outstanding receivable and customer,<div style="display:inline-block;width:4.9px"> </div>the aging of outstanding receivables, and the associated collection<div style="display:inline-block;width:4.89px"> </div>risk the Company </div><div id="a9950" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.8px;">estimates for certain past due aging categories, and<div style="display:inline-block;width:4.77px"> </div>also, the general risk to all outstanding accounts receivable based on historical </div><div id="a9991" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:92.2px;">amounts determined to be uncollectible.</div></div></div><div id="a9991_39_92" style="position:absolute;font-weight:normal;font-style:normal;left:218.093px;top:495.7px;"><div style="display:inline-block;width:6.72px"> </div>The Company does not have any off-balance-sheet<div style="display:inline-block;width:4.74px"> </div>credit exposure related to its customers. </div><div id="a10031" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:518.9px;">Contract Assets and Liabilities </div><div id="div_48_XBRL_TS_f84cbe25d52a4889807f70c82e63f9f0" style="position:absolute;left:0px;top:542.3px;float:left;"><div id="TextBlockContainer49" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a10039" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The Company recognizes a contract asset or receivable<div style="display:inline-block;width:4.63px"> </div>on its Condensed Consolidated Balance Sheet when the Company </div><div id="a10073" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">performs a service or transfers a good in advance<div style="display:inline-block;width:4.61px"> </div>of receiving consideration.<div style="display:inline-block;width:7.34px"> </div>A receivable is the Company’s<div style="display:inline-block;width:4.72px"> </div>right to consideration that </div><div id="a10117" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">is unconditional and only the passage of time is required<div style="display:inline-block;width:4.71px"> </div>before payment of that consideration is due.<div style="display:inline-block;width:7.88px"> </div>A contract asset is the </div><div id="a10161" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">Company’s right to consideration<div style="display:inline-block;width:4.85px"> </div>in exchange for goods or services that the Company has transferred<div style="display:inline-block;width:4.92px"> </div>to a customer.</div></div></div><div id="a10161_114_14" style="position:absolute;font-weight:normal;font-style:normal;left:624.399px;top:588.4px;"><div style="display:inline-block;width:6.72px"> </div>The Company </div><div id="a10202" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:603.7px;">had no material contract assets recorded on its Condensed<div style="display:inline-block;width:4.83px"> </div>Consolidated Balance Sheets as of March 31, 2021 or December<div style="display:inline-block;width:4.78px"> </div>31, 2020. </div><div id="div_50_XBRL_TS_36f6eb8e5fc94143a314768b55d04f8e" style="position:absolute;left:0px;top:626.9px;float:left;"><div id="TextBlockContainer51" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:93px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a10244" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">A contract liability is recognized when the Company<div style="display:inline-block;width:4.7px"> </div>receives consideration, or if it has the unconditional right<div style="display:inline-block;width:4.72px"> </div>to receive </div><div id="a10283" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">consideration, in advance of performance.<div style="display:inline-block;width:7.82px"> </div>A contract liability is the Company’s<div style="display:inline-block;width:4.98px"> </div>obligation to transfer goods or services to a customer </div><div id="a10323" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">for which the Company has received consideration,<div style="display:inline-block;width:4.73px"> </div>or a specified amount of consideration is due, from the customer.<div style="display:inline-block;width:8.96px"> </div>The Company’s </div><div id="a10364" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">contract liabilities primarily represent deferred revenue<div style="display:inline-block;width:4.7px"> </div>recorded for customer payments received by the Company<div style="display:inline-block;width:4.73px"> </div>prior to the </div><div id="a10398" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.5px;">Company satisfying the associated performance obligation.<div style="display:inline-block;width:8px"> </div>Deferred revenues are presented within other current liabilities<div style="display:inline-block;width:4.71px"> </div>in the </div><div id="a10431" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.7px;">Company’s Condensed<div style="display:inline-block;width:4.71px"> </div>Consolidated Balance Sheets.</div></div></div><div id="a10431_48_33" style="position:absolute;font-weight:normal;font-style:normal;left:289.933px;top:703.6px;"><div style="display:inline-block;width:6.72px"> </div>The Company had approximately $</div><div id="a10431_81_3" style="position:absolute;left:485.64px;top:703.6px;">6.3</div><div id="a10431_84_14" style="position:absolute;font-weight:normal;font-style:normal;left:502.28px;top:703.6px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a10431_98_3" style="position:absolute;left:576.719px;top:703.6px;">4.0</div><div id="a10431_101_21" style="position:absolute;font-weight:normal;font-style:normal;left:593.519px;top:703.6px;"><div style="display:inline-block;width:3.36px"> </div>million of deferred </div><div id="a10467" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:719px;">revenue as of March 31, 2021 and December 31, 2020,<div style="display:inline-block;width:4.8px"> </div>respectively.<div style="display:inline-block;width:7.79px"> </div>For three months ended March 31, 2021, the Company<div style="display:inline-block;width:4.7px"> </div>satisfied </div><div id="a10509" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:734.3px;">all of the associated performance obligations and recognized<div style="display:inline-block;width:4.88px"> </div>into revenue the advance payments received and recorded<div style="display:inline-block;width:4.61px"> </div>as of </div><div id="a10545" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:749.7px;">December 31, 2020.</div></div><div id="TextBlockContainer54" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:701px;height:55px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a10601" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Disaggregated Revenue </div><div id="a10605" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">The following tables disaggregate the Company’s<div style="display:inline-block;width:5.33px"> </div>net sales by segment, geographic region, customer industry,<div style="display:inline-block;width:5.59px"> </div>and timing of </div><div id="a10639" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.7px;">revenue recognized for the three months ended March 31,<div style="display:inline-block;width:4.75px"> </div>2021 and 2020.</div></div><div id="TextBlockContainer57" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:242px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a10664" style="position:absolute;font-weight:bold;font-style:normal;left:383.533px;top:0px;">Three Months Ended March 31,<div style="display:inline-block;width:7.96px"> </div>2021 </div><div id="a10675" style="position:absolute;font-weight:bold;font-style:normal;left:630.48px;top:16.8px;">Consolidated </div><div id="a10678" style="position:absolute;font-weight:bold;font-style:normal;left:288.813px;top:31px;">Americas </div><div id="a10681" style="position:absolute;font-weight:bold;font-style:normal;left:413.8px;top:31px;">EMEA </div><div id="a10684" style="position:absolute;font-weight:bold;font-style:normal;left:518.12px;top:31px;">Asia/Pacific </div><div id="a10687" style="position:absolute;font-weight:bold;font-style:normal;left:652.72px;top:31px;">Total </div><div id="a10689" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:47.7px;">Customer Industries </div><div id="a10702" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64.6px;">Metals </div><div id="a10704" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:65.4px;">$ </div><div id="a10706" style="position:absolute;left:326.413px;top:65.4px;">46,793</div><div id="a10709" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:65.4px;">$ </div><div id="a10711" style="position:absolute;left:444.52px;top:65.4px;">34,274</div><div id="a10714" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:65.4px;">$ </div><div id="a10716" style="position:absolute;left:562.44px;top:65.4px;">49,743</div><div id="a10718" style="position:absolute;font-weight:normal;font-style:normal;left:608.56px;top:65.4px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a10720" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:65.4px;">$ </div><div id="a10722" style="position:absolute;left:671.76px;top:65.4px;">130,810</div><div id="a10724" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.6px;">Metalworking and other </div><div id="a10727" style="position:absolute;left:326.413px;top:82.4px;">88,078</div><div id="a10731" style="position:absolute;left:444.52px;top:82.4px;">85,540</div><div id="a10735" style="position:absolute;left:562.44px;top:82.4px;">46,963</div><div id="a10739" style="position:absolute;left:671.76px;top:82.4px;">220,581</div><div id="a10743" style="position:absolute;left:319.693px;top:98.9px;">134,871</div><div id="a10747" style="position:absolute;left:437.8px;top:98.9px;">119,814</div><div id="a10751" style="position:absolute;left:562.44px;top:98.9px;">96,706</div><div id="a10755" style="position:absolute;left:671.76px;top:98.9px;">351,391</div><div id="a10757" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:116.5px;">Global Specialty Businesses </div><div id="a10760" style="position:absolute;left:326.413px;top:116.5px;">45,256</div><div id="a10764" style="position:absolute;left:444.52px;top:116.5px;">20,272</div><div id="a10768" style="position:absolute;left:562.44px;top:116.5px;">12,864</div><div id="a10772" style="position:absolute;left:678.48px;top:116.5px;">78,392</div><div id="a10775" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:135px;">$ </div><div id="a10777" style="position:absolute;left:319.693px;top:135px;">180,127</div><div id="a10780" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:135px;">$ </div><div id="a10782" style="position:absolute;left:437.8px;top:135px;">140,086</div><div id="a10785" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:135px;">$ </div><div id="a10787" style="position:absolute;left:555.72px;top:135px;">109,570</div><div id="a10790" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:135px;">$ </div><div id="a10792" style="position:absolute;left:671.76px;top:135px;">429,783</div><div id="a10806" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:172.4px;">Timing of Revenue Recognized </div><div id="a10819" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:189.3px;">Product sales at a point in time </div><div id="a10821" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:190.1px;">$ </div><div id="a10823" style="position:absolute;left:319.693px;top:190.1px;">171,594</div><div id="a10826" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:190.1px;">$ </div><div id="a10828" style="position:absolute;left:437.8px;top:190.1px;">131,162</div><div id="a10831" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:190.1px;">$ </div><div id="a10833" style="position:absolute;left:555.72px;top:190.1px;">106,399</div><div id="a10835" style="position:absolute;font-weight:normal;font-style:normal;left:608.56px;top:190.1px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a10837" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:190.1px;">$ </div><div id="a10839" style="position:absolute;left:671.76px;top:190.1px;">409,155</div><div id="a10841" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:206.3px;">Services transferred over time </div><div id="a10844" style="position:absolute;left:332.973px;top:207.1px;">8,533</div><div id="a10848" style="position:absolute;left:451.08px;top:207.1px;">8,924</div><div id="a10852" style="position:absolute;left:569.04px;top:207.1px;">3,171</div><div id="a10856" style="position:absolute;left:678.48px;top:207.1px;">20,628</div><div id="a10859" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:225.8px;">$ </div><div id="a10861" style="position:absolute;left:319.693px;top:225.8px;">180,127</div><div id="a10864" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:225.8px;">$ </div><div id="a10866" style="position:absolute;left:437.8px;top:225.8px;">140,086</div><div id="a10869" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:225.8px;">$ </div><div id="a10871" style="position:absolute;left:555.72px;top:225.8px;">109,570</div><div id="a10874" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:225.8px;">$ </div><div id="a10876" style="position:absolute;left:671.76px;top:225.8px;">429,783</div></div><div id="TextBlockContainer61" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:242px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a10880" style="position:absolute;font-weight:bold;font-style:normal;left:383.533px;top:0px;">Three Months Ended March 31,<div style="display:inline-block;width:7.96px"> </div>2020 </div><div id="a10891" style="position:absolute;font-weight:bold;font-style:normal;left:630.48px;top:16.8px;">Consolidated </div><div id="a10894" style="position:absolute;font-weight:bold;font-style:normal;left:288.813px;top:31.2px;">Americas </div><div id="a10897" style="position:absolute;font-weight:bold;font-style:normal;left:413.8px;top:31.2px;">EMEA </div><div id="a10900" style="position:absolute;font-weight:bold;font-style:normal;left:518.12px;top:31.2px;">Asia/Pacific </div><div id="a10903" style="position:absolute;font-weight:bold;font-style:normal;left:652.72px;top:31.2px;">Total </div><div id="a10905" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:47.7px;">Customer Industries </div><div id="a10918" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64.6px;">Metals </div><div id="a10920" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:65.4px;">$ </div><div id="a10922" style="position:absolute;left:326.413px;top:65.4px;">46,673</div><div id="a10925" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:65.4px;">$ </div><div id="a10927" style="position:absolute;left:444.52px;top:65.4px;">29,888</div><div id="a10930" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:65.4px;">$ </div><div id="a10932" style="position:absolute;left:562.44px;top:65.4px;">41,589</div><div id="a10934" style="position:absolute;font-weight:normal;font-style:normal;left:608.56px;top:65.4px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a10936" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:65.4px;">$ </div><div id="a10938" style="position:absolute;left:671.76px;top:65.4px;">118,150</div><div id="a10940" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.6px;">Metalworking and other </div><div id="a10943" style="position:absolute;left:326.413px;top:82.6px;">83,223</div><div id="a10947" style="position:absolute;left:444.52px;top:82.6px;">74,951</div><div id="a10951" style="position:absolute;left:562.44px;top:82.6px;">31,963</div><div id="a10955" style="position:absolute;left:671.76px;top:82.6px;">190,137</div><div id="a10959" style="position:absolute;left:319.693px;top:99px;">129,896</div><div id="a10963" style="position:absolute;left:437.8px;top:99px;">104,839</div><div id="a10967" style="position:absolute;left:562.44px;top:99px;">73,552</div><div id="a10971" style="position:absolute;left:671.76px;top:99px;">308,287</div><div id="a10973" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:116.5px;">Global Specialty Businesses </div><div id="a10976" style="position:absolute;left:326.413px;top:116.5px;">44,231</div><div id="a10980" style="position:absolute;left:444.52px;top:116.5px;">16,605</div><div id="a10984" style="position:absolute;left:569.04px;top:116.5px;">9,438</div><div id="a10989" style="position:absolute;left:678.48px;top:116.5px;">70,274</div><div id="a10992" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:135.2px;">$ </div><div id="a10994" style="position:absolute;left:319.693px;top:133.8px;">174,127</div><div id="a10997" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:135.2px;">$ </div><div id="a10999" style="position:absolute;left:437.8px;top:133.8px;">121,444</div><div id="a11002" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:135.2px;">$ </div><div id="a11004" style="position:absolute;left:562.44px;top:133.8px;">82,990</div><div id="a11007" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:135.2px;">$ </div><div id="a11009" style="position:absolute;left:671.76px;top:133.8px;">378,561</div><div id="a11023" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:172.3px;">Timing of Revenue Recognized </div><div id="a11036" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:189.3px;">Product sales at a point in time </div><div id="a11038" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:190.1px;">$ </div><div id="a11040" style="position:absolute;left:319.693px;top:190.1px;">168,802</div><div id="a11043" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:190.1px;">$ </div><div id="a11045" style="position:absolute;left:437.8px;top:190.1px;">118,423</div><div id="a11048" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:190.1px;">$ </div><div id="a11050" style="position:absolute;left:562.44px;top:190.1px;">81,156</div><div id="a11052" style="position:absolute;font-weight:normal;font-style:normal;left:608.56px;top:190.1px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a11054" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:190.1px;">$ </div><div id="a11056" style="position:absolute;left:671.76px;top:190.1px;">368,381</div><div id="a11058" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:206.3px;">Services transferred over time </div><div id="a11061" style="position:absolute;left:332.973px;top:207.2px;">5,325</div><div id="a11065" style="position:absolute;left:451.08px;top:207.2px;">3,021</div><div id="a11069" style="position:absolute;left:569.04px;top:207.2px;">1,834</div><div id="a11073" style="position:absolute;left:678.48px;top:207.2px;">10,180</div><div id="a11076" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:225.8px;">$ </div><div id="a11078" style="position:absolute;left:319.693px;top:224.5px;">174,127</div><div id="a11081" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:225.8px;">$ </div><div id="a11083" style="position:absolute;left:437.8px;top:224.5px;">121,444</div><div id="a11086" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:225.8px;">$ </div><div id="a11088" style="position:absolute;left:562.44px;top:224.5px;">82,990</div><div id="a11091" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:225.8px;">$ </div><div id="a11093" style="position:absolute;left:671.76px;top:224.5px;">378,561</div></div> <div id="TextBlockContainer43" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a9217" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">As part of the Company’s<div style="display:inline-block;width:4.84px"> </div>Fluidcare business, certain third-party product sales to customers are<div style="display:inline-block;width:4.79px"> </div>managed by the Company.<div style="display:inline-block;width:8.3px"> </div>Where </div><div id="a9258" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">the Company acts as a principal, revenues are recognized<div style="display:inline-block;width:4.67px"> </div>on a gross reporting basis at the selling price negotiated with<div style="display:inline-block;width:4.77px"> </div>its customers. </div><div id="a9303" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Where the Company acts as an agent, revenue is recognized on<div style="display:inline-block;width:4.88px"> </div>a net reporting basis at the amount of the administrative fee earned<div style="display:inline-block;width:4.74px"> </div>by </div><div id="a9352" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">the Company for ordering the goods.</div></div> 17800000 12500000 0.10 0.03 <div id="TextBlockContainer45" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:77px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a9540" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The Company applies the five-step model in the FASB’s<div style="display:inline-block;width:6.16px"> </div>guidance, which requires the Company to: (i) identify<div style="display:inline-block;width:4.86px"> </div>the contract with a </div><div id="a9584" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">customer; (ii) identify the performance obligations in<div style="display:inline-block;width:4.78px"> </div>the contract; (iii) determine the transaction price; (iv) allocate the<div style="display:inline-block;width:4.78px"> </div>transaction </div><div id="a9620" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.6px;">price to the performance obligations in the contract; and<div style="display:inline-block;width:4.68px"> </div>(v) recognize revenue when, or as, the Company satisfies a performance </div><div id="a9660" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">obligation.<div style="display:inline-block;width:7.02px"> </div>Refer to the Company’s 2020<div style="display:inline-block;width:4.77px"> </div>Form 10-K for additional information on the Company’s<div style="display:inline-block;width:5.34px"> </div>revenue recognition policies, </div><div id="a9698" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">including its practical expedients and accounting policy<div style="display:inline-block;width:4.79px"> </div>elections.</div></div><div id="TextBlockContainer49" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a10039" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The Company recognizes a contract asset or receivable<div style="display:inline-block;width:4.63px"> </div>on its Condensed Consolidated Balance Sheet when the Company </div><div id="a10073" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">performs a service or transfers a good in advance<div style="display:inline-block;width:4.61px"> </div>of receiving consideration.<div style="display:inline-block;width:7.34px"> </div>A receivable is the Company’s<div style="display:inline-block;width:4.72px"> </div>right to consideration that </div><div id="a10117" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">is unconditional and only the passage of time is required<div style="display:inline-block;width:4.71px"> </div>before payment of that consideration is due.<div style="display:inline-block;width:7.88px"> </div>A contract asset is the </div><div id="a10161" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">Company’s right to consideration<div style="display:inline-block;width:4.85px"> </div>in exchange for goods or services that the Company has transferred<div style="display:inline-block;width:4.92px"> </div>to a customer.</div></div><div id="TextBlockContainer51" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:93px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a10244" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">A contract liability is recognized when the Company<div style="display:inline-block;width:4.7px"> </div>receives consideration, or if it has the unconditional right<div style="display:inline-block;width:4.72px"> </div>to receive </div><div id="a10283" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">consideration, in advance of performance.<div style="display:inline-block;width:7.82px"> </div>A contract liability is the Company’s<div style="display:inline-block;width:4.98px"> </div>obligation to transfer goods or services to a customer </div><div id="a10323" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">for which the Company has received consideration,<div style="display:inline-block;width:4.73px"> </div>or a specified amount of consideration is due, from the customer.<div style="display:inline-block;width:8.96px"> </div>The Company’s </div><div id="a10364" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">contract liabilities primarily represent deferred revenue<div style="display:inline-block;width:4.7px"> </div>recorded for customer payments received by the Company<div style="display:inline-block;width:4.73px"> </div>prior to the </div><div id="a10398" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.5px;">Company satisfying the associated performance obligation.<div style="display:inline-block;width:8px"> </div>Deferred revenues are presented within other current liabilities<div style="display:inline-block;width:4.71px"> </div>in the </div><div id="a10431" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.7px;">Company’s Condensed<div style="display:inline-block;width:4.71px"> </div>Consolidated Balance Sheets.</div></div> <div id="TextBlockContainer47" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:725px;height:108px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a9762_102_26" style="position:absolute;font-weight:normal;font-style:normal;left:534.92px;top:0px;">The Company recognizes an </div><div id="a9800" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">allowance for credit losses, which represents the portion<div style="display:inline-block;width:4.72px"> </div>of its trade accounts receivable that the Company does not expect<div style="display:inline-block;width:4.76px"> </div>to collect </div><div id="a9842" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">over the contractual life, considering past events<div style="display:inline-block;width:4.49px"> </div>and reasonable and supportable forecasts of future economic<div style="display:inline-block;width:4.72px"> </div>conditions.<div style="display:inline-block;width:6.79px"> </div>The </div><div id="a9877" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">Company’s allowance<div style="display:inline-block;width:4.62px"> </div>for credit losses on its trade accounts receivables<div style="display:inline-block;width:4.33px"> </div>is based on specific collectability facts and circumstances for </div><div id="a9916" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.5px;">each outstanding receivable and customer,<div style="display:inline-block;width:4.9px"> </div>the aging of outstanding receivables, and the associated collection<div style="display:inline-block;width:4.89px"> </div>risk the Company </div><div id="a9950" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.8px;">estimates for certain past due aging categories, and<div style="display:inline-block;width:4.77px"> </div>also, the general risk to all outstanding accounts receivable based on historical </div><div id="a9991" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:92.2px;">amounts determined to be uncollectible.</div></div> 6300000 4000000.0 <div id="TextBlockContainer58" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:242px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_56_XBRL_TS_034b2fa7e8e8496cbdcf19045cee1506" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer57" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:242px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a10664" style="position:absolute;font-weight:bold;font-style:normal;left:383.533px;top:0px;">Three Months Ended March 31,<div style="display:inline-block;width:7.96px"> </div>2021 </div><div id="a10675" style="position:absolute;font-weight:bold;font-style:normal;left:630.48px;top:16.8px;">Consolidated </div><div id="a10678" style="position:absolute;font-weight:bold;font-style:normal;left:288.813px;top:31px;">Americas </div><div id="a10681" style="position:absolute;font-weight:bold;font-style:normal;left:413.8px;top:31px;">EMEA </div><div id="a10684" style="position:absolute;font-weight:bold;font-style:normal;left:518.12px;top:31px;">Asia/Pacific </div><div id="a10687" style="position:absolute;font-weight:bold;font-style:normal;left:652.72px;top:31px;">Total </div><div id="a10689" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:47.7px;">Customer Industries </div><div id="a10702" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64.6px;">Metals </div><div id="a10704" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:65.4px;">$ </div><div id="a10706" style="position:absolute;left:326.413px;top:65.4px;">46,793</div><div id="a10709" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:65.4px;">$ </div><div id="a10711" style="position:absolute;left:444.52px;top:65.4px;">34,274</div><div id="a10714" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:65.4px;">$ </div><div id="a10716" style="position:absolute;left:562.44px;top:65.4px;">49,743</div><div id="a10718" style="position:absolute;font-weight:normal;font-style:normal;left:608.56px;top:65.4px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a10720" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:65.4px;">$ </div><div id="a10722" style="position:absolute;left:671.76px;top:65.4px;">130,810</div><div id="a10724" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.6px;">Metalworking and other </div><div id="a10727" style="position:absolute;left:326.413px;top:82.4px;">88,078</div><div id="a10731" style="position:absolute;left:444.52px;top:82.4px;">85,540</div><div id="a10735" style="position:absolute;left:562.44px;top:82.4px;">46,963</div><div id="a10739" style="position:absolute;left:671.76px;top:82.4px;">220,581</div><div id="a10743" style="position:absolute;left:319.693px;top:98.9px;">134,871</div><div id="a10747" style="position:absolute;left:437.8px;top:98.9px;">119,814</div><div id="a10751" style="position:absolute;left:562.44px;top:98.9px;">96,706</div><div id="a10755" style="position:absolute;left:671.76px;top:98.9px;">351,391</div><div id="a10757" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:116.5px;">Global Specialty Businesses </div><div id="a10760" style="position:absolute;left:326.413px;top:116.5px;">45,256</div><div id="a10764" style="position:absolute;left:444.52px;top:116.5px;">20,272</div><div id="a10768" style="position:absolute;left:562.44px;top:116.5px;">12,864</div><div id="a10772" style="position:absolute;left:678.48px;top:116.5px;">78,392</div><div id="a10775" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:135px;">$ </div><div id="a10777" style="position:absolute;left:319.693px;top:135px;">180,127</div><div id="a10780" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:135px;">$ </div><div id="a10782" style="position:absolute;left:437.8px;top:135px;">140,086</div><div id="a10785" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:135px;">$ </div><div id="a10787" style="position:absolute;left:555.72px;top:135px;">109,570</div><div id="a10790" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:135px;">$ </div><div id="a10792" style="position:absolute;left:671.76px;top:135px;">429,783</div><div id="a10806" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:172.4px;">Timing of Revenue Recognized </div><div id="a10819" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:189.3px;">Product sales at a point in time </div><div id="a10821" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:190.1px;">$ </div><div id="a10823" style="position:absolute;left:319.693px;top:190.1px;">171,594</div><div id="a10826" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:190.1px;">$ </div><div id="a10828" style="position:absolute;left:437.8px;top:190.1px;">131,162</div><div id="a10831" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:190.1px;">$ </div><div id="a10833" style="position:absolute;left:555.72px;top:190.1px;">106,399</div><div id="a10835" style="position:absolute;font-weight:normal;font-style:normal;left:608.56px;top:190.1px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a10837" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:190.1px;">$ </div><div id="a10839" style="position:absolute;left:671.76px;top:190.1px;">409,155</div><div id="a10841" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:206.3px;">Services transferred over time </div><div id="a10844" style="position:absolute;left:332.973px;top:207.1px;">8,533</div><div id="a10848" style="position:absolute;left:451.08px;top:207.1px;">8,924</div><div id="a10852" style="position:absolute;left:569.04px;top:207.1px;">3,171</div><div id="a10856" style="position:absolute;left:678.48px;top:207.1px;">20,628</div><div id="a10859" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:225.8px;">$ </div><div id="a10861" style="position:absolute;left:319.693px;top:225.8px;">180,127</div><div id="a10864" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:225.8px;">$ </div><div id="a10866" style="position:absolute;left:437.8px;top:225.8px;">140,086</div><div id="a10869" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:225.8px;">$ </div><div id="a10871" style="position:absolute;left:555.72px;top:225.8px;">109,570</div><div id="a10874" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:225.8px;">$ </div><div id="a10876" style="position:absolute;left:671.76px;top:225.8px;">429,783</div></div></div></div><div id="TextBlockContainer62" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:242px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_60_XBRL_TS_0eebd7d9b80f4fd096ec458ff6ac5b0c" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer61" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:242px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a10880" style="position:absolute;font-weight:bold;font-style:normal;left:383.533px;top:0px;">Three Months Ended March 31,<div style="display:inline-block;width:7.96px"> </div>2020 </div><div id="a10891" style="position:absolute;font-weight:bold;font-style:normal;left:630.48px;top:16.8px;">Consolidated </div><div id="a10894" style="position:absolute;font-weight:bold;font-style:normal;left:288.813px;top:31.2px;">Americas </div><div id="a10897" style="position:absolute;font-weight:bold;font-style:normal;left:413.8px;top:31.2px;">EMEA </div><div id="a10900" style="position:absolute;font-weight:bold;font-style:normal;left:518.12px;top:31.2px;">Asia/Pacific </div><div id="a10903" style="position:absolute;font-weight:bold;font-style:normal;left:652.72px;top:31.2px;">Total </div><div id="a10905" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:47.7px;">Customer Industries </div><div id="a10918" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64.6px;">Metals </div><div id="a10920" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:65.4px;">$ </div><div id="a10922" style="position:absolute;left:326.413px;top:65.4px;">46,673</div><div id="a10925" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:65.4px;">$ </div><div id="a10927" style="position:absolute;left:444.52px;top:65.4px;">29,888</div><div id="a10930" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:65.4px;">$ </div><div id="a10932" style="position:absolute;left:562.44px;top:65.4px;">41,589</div><div id="a10934" style="position:absolute;font-weight:normal;font-style:normal;left:608.56px;top:65.4px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a10936" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:65.4px;">$ </div><div id="a10938" style="position:absolute;left:671.76px;top:65.4px;">118,150</div><div id="a10940" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.6px;">Metalworking and other </div><div id="a10943" style="position:absolute;left:326.413px;top:82.6px;">83,223</div><div id="a10947" style="position:absolute;left:444.52px;top:82.6px;">74,951</div><div id="a10951" style="position:absolute;left:562.44px;top:82.6px;">31,963</div><div id="a10955" style="position:absolute;left:671.76px;top:82.6px;">190,137</div><div id="a10959" style="position:absolute;left:319.693px;top:99px;">129,896</div><div id="a10963" style="position:absolute;left:437.8px;top:99px;">104,839</div><div id="a10967" style="position:absolute;left:562.44px;top:99px;">73,552</div><div id="a10971" style="position:absolute;left:671.76px;top:99px;">308,287</div><div id="a10973" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:116.5px;">Global Specialty Businesses </div><div id="a10976" style="position:absolute;left:326.413px;top:116.5px;">44,231</div><div id="a10980" style="position:absolute;left:444.52px;top:116.5px;">16,605</div><div id="a10984" style="position:absolute;left:569.04px;top:116.5px;">9,438</div><div id="a10989" style="position:absolute;left:678.48px;top:116.5px;">70,274</div><div id="a10992" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:135.2px;">$ </div><div id="a10994" style="position:absolute;left:319.693px;top:133.8px;">174,127</div><div id="a10997" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:135.2px;">$ </div><div id="a10999" style="position:absolute;left:437.8px;top:133.8px;">121,444</div><div id="a11002" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:135.2px;">$ </div><div id="a11004" style="position:absolute;left:562.44px;top:133.8px;">82,990</div><div id="a11007" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:135.2px;">$ </div><div id="a11009" style="position:absolute;left:671.76px;top:133.8px;">378,561</div><div id="a11023" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:172.3px;">Timing of Revenue Recognized </div><div id="a11036" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:189.3px;">Product sales at a point in time </div><div id="a11038" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:190.1px;">$ </div><div id="a11040" style="position:absolute;left:319.693px;top:190.1px;">168,802</div><div id="a11043" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:190.1px;">$ </div><div id="a11045" style="position:absolute;left:437.8px;top:190.1px;">118,423</div><div id="a11048" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:190.1px;">$ </div><div id="a11050" style="position:absolute;left:562.44px;top:190.1px;">81,156</div><div id="a11052" style="position:absolute;font-weight:normal;font-style:normal;left:608.56px;top:190.1px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a11054" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:190.1px;">$ </div><div id="a11056" style="position:absolute;left:671.76px;top:190.1px;">368,381</div><div id="a11058" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:206.3px;">Services transferred over time </div><div id="a11061" style="position:absolute;left:332.973px;top:207.2px;">5,325</div><div id="a11065" style="position:absolute;left:451.08px;top:207.2px;">3,021</div><div id="a11069" style="position:absolute;left:569.04px;top:207.2px;">1,834</div><div id="a11073" style="position:absolute;left:678.48px;top:207.2px;">10,180</div><div id="a11076" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:225.8px;">$ </div><div id="a11078" style="position:absolute;left:319.693px;top:224.5px;">174,127</div><div id="a11081" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:225.8px;">$ </div><div id="a11083" style="position:absolute;left:437.8px;top:224.5px;">121,444</div><div id="a11086" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:225.8px;">$ </div><div id="a11088" style="position:absolute;left:562.44px;top:224.5px;">82,990</div><div id="a11091" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:225.8px;">$ </div><div id="a11093" style="position:absolute;left:671.76px;top:224.5px;">378,561</div></div></div></div> 46793000 34274000 49743000 130810000 88078000 85540000 46963000 220581000 134871000 134871000 119814000 119814000 96706000 96706000 351391000 45256000 20272000 12864000 78392000 180127000 140086000 109570000 429783000 429783000 171594000 131162000 106399000 409155000 8533000 8924000 3171000 20628000 180127000 140086000 109570000 429783000 46673000 29888000 41589000 118150000 83223000 74951000 31963000 190137000 129896000 129896000 104839000 104839000 73552000 73552000 308287000 44231000 16605000 9438000 70274000 174127000 121444000 82990000 378561000 378561000 168802000 118423000 81156000 368381000 5325000 3021000 1834000 10180000 174127000 121444000 82990000 378561000 <div id="TextBlockContainer66" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:264px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a11095" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 6 - Leases </div><div id="div_64_XBRL_TS_2f0d9bb75921417ea5f6825946ac2bc0" style="position:absolute;left:0px;top:25.6px;float:left;"><div id="TextBlockContainer65" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:78px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a11103" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The Company determines if an arrangement is a lease<div style="display:inline-block;width:4.74px"> </div>at its inception.<div style="display:inline-block;width:7.16px"> </div>This determination generally depends on whether the </div><div id="a11141" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">arrangement conveys the right to control the use of an<div style="display:inline-block;width:4.74px"> </div>identified fixed asset explicitly or implicitly for a period of<div style="display:inline-block;width:4.73px"> </div>time in exchange for </div><div id="a11190" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">consideration.<div style="display:inline-block;width:7.09px"> </div>Control of an underlying asset is conveyed if the Company<div style="display:inline-block;width:4.54px"> </div>obtains the rights to direct the use of, and obtains </div><div id="a11233" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">substantially all of the economic benefits from the use<div style="display:inline-block;width:4.73px"> </div>of, the underlying asset.<div style="display:inline-block;width:7.19px"> </div>Lease expense for variable leases and short-term </div><div id="a11275" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.5px;">leases is recognized when the obligation is incurred.</div></div></div><div id="a11275_53_2" style="position:absolute;font-weight:normal;font-style:normal;left:283.213px;top:87.1px;"><div style="display:inline-block;width:3.2px"> </div></div><div id="a11293" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:110.3px;">The Company has operating leases for certain facilities, vehicles<div style="display:inline-block;width:4.7px"> </div>and machinery and equipment with remaining lease terms up<div style="display:inline-block;width:4.76px"> </div>to </div><div id="a11332" style="position:absolute;left:4.427px;top:125.6px;">10</div><div id="a11332_2_95" style="position:absolute;font-weight:normal;font-style:normal;left:17.867px;top:125.6px;"><div style="display:inline-block;width:3.36px"> </div>years.<div style="display:inline-block;width:6.77px"> </div>In addition, the Company has certain land use leases with remaining<div style="display:inline-block;width:4.9px"> </div>lease terms up to </div><div id="a11332_97_2" style="position:absolute;left:520.04px;top:125.6px;">94</div><div id="a11332_99_39" style="position:absolute;font-weight:normal;font-style:normal;left:533.48px;top:125.6px;"><div style="display:inline-block;width:3.36px"> </div>years.<div style="display:inline-block;width:6.78px"> </div>The lease term for all of the </div><div id="a11385" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:141px;">Company’s leases includes<div style="display:inline-block;width:4.76px"> </div>the non-cancellable period of the lease plus any additional periods<div style="display:inline-block;width:4.8px"> </div>covered by an option to extend the lease </div><div id="a11430" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:156.4px;">that the Company is reasonably certain it will exercise.<div style="display:inline-block;width:8.05px"> </div>Operating leases are included in right of use lease assets, other current </div><div id="a11473" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:171.7px;">liabilities and long-term lease liabilities on the Condensed<div style="display:inline-block;width:4.82px"> </div>Consolidated Balance Sheet.<div style="display:inline-block;width:7.4px"> </div>Right of use lease assets and liabilities are </div><div id="a11513" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:186.9px;">recognized at each lease’s<div style="display:inline-block;width:4.75px"> </div>commencement date based on the present value of its lease payments<div style="display:inline-block;width:4.79px"> </div>over its respective lease term.<div style="display:inline-block;width:7.55px"> </div>The </div><div id="a11555" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:202.3px;">Company uses the stated borrowing rate for a lease when<div style="display:inline-block;width:4.73px"> </div>readily determinable.<div style="display:inline-block;width:7.2px"> </div>When a stated borrowing rate is not available in a </div><div id="a11599" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:217.6px;">lease agreement, the Company uses its incremental borrowing<div style="display:inline-block;width:4.78px"> </div>rate based on information available at the lease’s<div style="display:inline-block;width:5.1px"> </div>commencement date </div><div id="a11635" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:233px;">to determine the present value of its lease payments.<div style="display:inline-block;width:7.99px"> </div>In determining the incremental borrowing rate used to present<div style="display:inline-block;width:4.73px"> </div>value each of its </div><div id="a11679" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:248.4px;">leases, the Company considers certain information<div style="display:inline-block;width:4.71px"> </div>including fully secured borrowing rates readily available to the Company<div style="display:inline-block;width:4.92px"> </div>and its </div></div><div id="TextBlockContainer68" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:727px;height:155px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a11765" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">subsidiaries.<div style="display:inline-block;width:6.97px"> </div>The Company has immaterial finance leases, which are<div style="display:inline-block;width:4.75px"> </div>included in property, plant<div style="display:inline-block;width:4.81px"> </div>and equipment, current portion of </div><div id="a11804" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">long-term debt and long-term debt on the Condensed Consolidated<div style="display:inline-block;width:4.95px"> </div>Balance Sheet. </div><div id="a11830" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:38.7px;">Operating lease expense is recognized on a straight-line<div style="display:inline-block;width:4.76px"> </div>basis over the lease term.<div style="display:inline-block;width:7.13px"> </div>Operating lease expense for the three months </div><div id="a11872" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.9px;">ended March 31, 2021 and 2020 was $</div><div id="a11872_35_3" style="position:absolute;left:211.173px;top:53.9px;">3.6</div><div id="a11872_38_14" style="position:absolute;font-weight:normal;font-style:normal;left:227.853px;top:53.9px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a11872_52_3" style="position:absolute;left:302.253px;top:53.9px;">3.4</div><div id="a11872_55_55" style="position:absolute;font-weight:normal;font-style:normal;left:319.053px;top:53.9px;"><div style="display:inline-block;width:3.2px"> </div>million, respectively.<div style="display:inline-block;width:8.24px"> </div>Short-term lease expense was $</div><div id="a11872_110_3" style="position:absolute;left:610.159px;top:53.9px;">0.3</div><div id="a11872_113_14" style="position:absolute;font-weight:normal;font-style:normal;left:626.799px;top:53.9px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a11872_127_3" style="position:absolute;left:701.199px;top:53.9px;">0.5</div><div id="a11872_130_1" style="position:absolute;font-weight:normal;font-style:normal;left:717.839px;top:53.9px;"> </div><div id="a11928" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">million for the three months ended March 31, 2021<div style="display:inline-block;width:4.73px"> </div>and 2020, respectively.<div style="display:inline-block;width:7.96px"> </div>The Company has </div><div id="a11928_91_2" style="position:absolute;left:511.56px;top:69.3px;">no</div><div id="a11928_93_34" style="position:absolute;font-weight:normal;font-style:normal;left:525px;top:69.3px;"><div style="display:inline-block;width:3.36px"> </div>material variable lease costs or </div><div id="a11975" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">sublease income for the three months ended March 31, 2021 and<div style="display:inline-block;width:4.89px"> </div>2020.<div style="display:inline-block;width:6.76px"> </div>Cash paid for operating leases was $</div><div id="a11975_105_3" style="position:absolute;left:583.919px;top:84.6px;">3.6</div><div id="a11975_108_14" style="position:absolute;font-weight:normal;font-style:normal;left:600.719px;top:84.6px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a11975_122_3" style="position:absolute;left:675.279px;top:84.6px;">3.4</div><div id="a11975_125_1" style="position:absolute;font-weight:normal;font-style:normal;left:691.919px;top:84.6px;"> </div><div id="a12028" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">million during the three months ended March 31, 2021<div style="display:inline-block;width:4.75px"> </div>and 2020,<div style="display:inline-block;width:3.47px"> </div>respectively.<div style="display:inline-block;width:7.11px"> </div>The Company recorded new right of use lease assets </div><div id="a12074" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">and associated lease liabilities of approximately $</div><div id="a12074_51_3" style="position:absolute;left:269.773px;top:115.4px;">3.1</div><div id="a12074_54_55" style="position:absolute;font-weight:normal;font-style:normal;left:286.413px;top:115.4px;"><div style="display:inline-block;width:3.36px"> </div>million during the three months ended March 31, 2021. </div><div id="a12111" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:138.7px;">Supplemental balance sheet information related to the Company’s<div style="display:inline-block;width:5.61px"> </div>leases is as follows:</div></div><div id="TextBlockContainer71" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:167px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a12138" style="position:absolute;font-weight:bold;font-style:normal;left:487.72px;top:0px;">March 31, </div><div id="a12141" style="position:absolute;font-weight:bold;font-style:normal;left:577.2px;top:0px;">December 31, </div><div id="a12146" style="position:absolute;font-weight:bold;font-style:normal;left:503.56px;top:17px;">2021 </div><div id="a12149" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:17px;">2020 </div><div id="a12153" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:33px;">Right of use lease assets </div><div id="a12155" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:33px;">$ </div><div id="a12157" style="position:absolute;left:518.92px;top:33px;">38,027</div><div id="a12160" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:33px;">$ </div><div id="a12162" style="position:absolute;left:618px;top:33px;">38,507</div><div id="a12174" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:66px;">Other current liabilities </div><div id="a12177" style="position:absolute;left:518.92px;top:66px;">10,419</div><div id="a12181" style="position:absolute;left:618px;top:66px;">10,901</div><div id="a12185" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:83.1px;">Long-term lease liabilities </div><div id="a12190" style="position:absolute;left:518.92px;top:83.1px;">27,050</div><div id="a12194" style="position:absolute;left:618px;top:83.1px;">27,070</div><div id="a12198" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">Total operating<div style="display:inline-block;width:4.71px"> </div>lease liabilities </div><div id="a12200" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:100px;">$ </div><div id="a12202" style="position:absolute;left:518.92px;top:100px;">37,469</div><div id="a12205" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:100px;">$ </div><div id="a12207" style="position:absolute;left:618px;top:100px;">37,971</div><div id="a12220" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:134px;">Weighted average<div style="display:inline-block;width:4.84px"> </div>remaining lease term (years) </div><div id="a12223" style="position:absolute;left:538.96px;top:134px;">5.9</div><div id="a12227" style="position:absolute;left:638px;top:134px;">6.0</div><div id="a12231" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:151.1px;">Weighted average<div style="display:inline-block;width:4.84px"> </div>discount rate </div><div id="a12234" style="position:absolute;left:525.16px;top:151.1px;display:flex;">4.26%</div><div id="a12238" style="position:absolute;left:624.24px;top:151.1px;display:flex;">4.20%</div></div><div id="TextBlockContainer74" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:427px;height:16px;display:inline-block;"><div id="a12241" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">Maturities of operating lease liabilities as of March 31,<div style="display:inline-block;width:4.68px"> </div>2021 were as follows:</div></div><div id="TextBlockContainer77" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:184px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a12270" style="position:absolute;font-weight:bold;font-style:normal;left:586.8px;top:0px;">March 31, </div><div id="a12275" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:17px;">2021 </div><div id="a12279" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:33px;">For the remainder of 2021 </div><div id="a12282" style="position:absolute;font-weight:normal;font-style:normal;left:575.12px;top:33px;">$ </div><div id="a12284" style="position:absolute;left:624.56px;top:33px;">9,269</div><div id="a12288" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:49px;">For the year ended December 31, 2022 </div><div id="a12291" style="position:absolute;left:624.56px;top:49px;">9,042</div><div id="a12295" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:65.9px;">For the year ended December 31, 2023 </div><div id="a12298" style="position:absolute;left:624.56px;top:65.9px;">6,932</div><div id="a12302" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:82.9px;">For the year ended December 31, 2024 </div><div id="a12305" style="position:absolute;left:624.56px;top:82.9px;">5,194</div><div id="a12309" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">For the year ended December 31, 2025 </div><div id="a12312" style="position:absolute;left:624.56px;top:100px;">4,211</div><div id="a12316" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:117px;">For the year ended December 31, 2026 and beyond </div><div id="a12320" style="position:absolute;left:624.56px;top:117px;">8,116</div><div id="a12324" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:133.9px;">Total lease payments </div><div id="a12327" style="position:absolute;left:618px;top:133.9px;">42,764</div><div id="a12331" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:150.9px;">Less: imputed interest </div><div id="a12334" style="position:absolute;left:619.76px;top:150.9px;">(5,295)</div><div id="a12338" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:168px;">Present value of lease liabilities </div><div id="a12340" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:168px;">$ </div><div id="a12342" style="position:absolute;left:618px;top:168px;">37,469</div></div> <div id="TextBlockContainer65" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:78px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a11103" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The Company determines if an arrangement is a lease<div style="display:inline-block;width:4.74px"> </div>at its inception.<div style="display:inline-block;width:7.16px"> </div>This determination generally depends on whether the </div><div id="a11141" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">arrangement conveys the right to control the use of an<div style="display:inline-block;width:4.74px"> </div>identified fixed asset explicitly or implicitly for a period of<div style="display:inline-block;width:4.73px"> </div>time in exchange for </div><div id="a11190" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">consideration.<div style="display:inline-block;width:7.09px"> </div>Control of an underlying asset is conveyed if the Company<div style="display:inline-block;width:4.54px"> </div>obtains the rights to direct the use of, and obtains </div><div id="a11233" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">substantially all of the economic benefits from the use<div style="display:inline-block;width:4.73px"> </div>of, the underlying asset.<div style="display:inline-block;width:7.19px"> </div>Lease expense for variable leases and short-term </div><div id="a11275" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.5px;">leases is recognized when the obligation is incurred.</div></div> P10Y P94Y 3600000 3400000 300000 500000 0 0 0 0 3600000 3400000 3100000 <div id="TextBlockContainer72" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:167px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_70_XBRL_TS_7303e64ea2504327b542fb33fe5d0dcb" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer71" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:167px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a12138" style="position:absolute;font-weight:bold;font-style:normal;left:487.72px;top:0px;">March 31, </div><div id="a12141" style="position:absolute;font-weight:bold;font-style:normal;left:577.2px;top:0px;">December 31, </div><div id="a12146" style="position:absolute;font-weight:bold;font-style:normal;left:503.56px;top:17px;">2021 </div><div id="a12149" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:17px;">2020 </div><div id="a12153" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:33px;">Right of use lease assets </div><div id="a12155" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:33px;">$ </div><div id="a12157" style="position:absolute;left:518.92px;top:33px;">38,027</div><div id="a12160" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:33px;">$ </div><div id="a12162" style="position:absolute;left:618px;top:33px;">38,507</div><div id="a12174" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:66px;">Other current liabilities </div><div id="a12177" style="position:absolute;left:518.92px;top:66px;">10,419</div><div id="a12181" style="position:absolute;left:618px;top:66px;">10,901</div><div id="a12185" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:83.1px;">Long-term lease liabilities </div><div id="a12190" style="position:absolute;left:518.92px;top:83.1px;">27,050</div><div id="a12194" style="position:absolute;left:618px;top:83.1px;">27,070</div><div id="a12198" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">Total operating<div style="display:inline-block;width:4.71px"> </div>lease liabilities </div><div id="a12200" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:100px;">$ </div><div id="a12202" style="position:absolute;left:518.92px;top:100px;">37,469</div><div id="a12205" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:100px;">$ </div><div id="a12207" style="position:absolute;left:618px;top:100px;">37,971</div><div id="a12220" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:134px;">Weighted average<div style="display:inline-block;width:4.84px"> </div>remaining lease term (years) </div><div id="a12223" style="position:absolute;left:538.96px;top:134px;">5.9</div><div id="a12227" style="position:absolute;left:638px;top:134px;">6.0</div><div id="a12231" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:151.1px;">Weighted average<div style="display:inline-block;width:4.84px"> </div>discount rate </div><div id="a12234" style="position:absolute;left:525.16px;top:151.1px;display:flex;">4.26%</div><div id="a12238" style="position:absolute;left:624.24px;top:151.1px;display:flex;">4.20%</div></div></div></div> 38027000 38507000 10419000 10901000 27050000 27070000 37469000 37971000 P5Y10M24D P6Y 4.26 4.20 <div id="TextBlockContainer78" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:184px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_76_XBRL_TS_1aec7f5fca5343b7bf8367857717f3d6" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer77" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:184px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a12270" style="position:absolute;font-weight:bold;font-style:normal;left:586.8px;top:0px;">March 31, </div><div id="a12275" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:17px;">2021 </div><div id="a12279" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:33px;">For the remainder of 2021 </div><div id="a12282" style="position:absolute;font-weight:normal;font-style:normal;left:575.12px;top:33px;">$ </div><div id="a12284" style="position:absolute;left:624.56px;top:33px;">9,269</div><div id="a12288" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:49px;">For the year ended December 31, 2022 </div><div id="a12291" style="position:absolute;left:624.56px;top:49px;">9,042</div><div id="a12295" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:65.9px;">For the year ended December 31, 2023 </div><div id="a12298" style="position:absolute;left:624.56px;top:65.9px;">6,932</div><div id="a12302" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:82.9px;">For the year ended December 31, 2024 </div><div id="a12305" style="position:absolute;left:624.56px;top:82.9px;">5,194</div><div id="a12309" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">For the year ended December 31, 2025 </div><div id="a12312" style="position:absolute;left:624.56px;top:100px;">4,211</div><div id="a12316" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:117px;">For the year ended December 31, 2026 and beyond </div><div id="a12320" style="position:absolute;left:624.56px;top:117px;">8,116</div><div id="a12324" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:133.9px;">Total lease payments </div><div id="a12327" style="position:absolute;left:618px;top:133.9px;">42,764</div><div id="a12331" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:150.9px;">Less: imputed interest </div><div id="a12334" style="position:absolute;left:619.76px;top:150.9px;">(5,295)</div><div id="a12338" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:168px;">Present value of lease liabilities </div><div id="a12340" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:168px;">$ </div><div id="a12342" style="position:absolute;left:618px;top:168px;">37,469</div></div></div></div> 9269000 9042000 6932000 5194000 4211000 8116000 42764000 5295000 37469000 <div id="TextBlockContainer80" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:726px;height:216px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a12345" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 7 – Restructuring and Related Activities </div><div id="a12359" style="position:absolute;left:28.427px;top:23.4px;">The Company’s management approved a global restructuring plan (the “QH Program”) as part of its plan to realize certain cost </div><div id="a12399" style="position:absolute;left:4.427px;top:38.7px;">synergies associated with the Combination in the third quarter of 2019. The QH Program includes restructuring and associated </div><div id="a12435" style="position:absolute;left:4.427px;top:54.1px;">severance costs to reduce total headcount by approximately 400 people globally, as well as plans for the closure of certain </div><div id="a12476" style="position:absolute;left:4.427px;top:69.4px;">manufacturing and non-manufacturing facilities.</div><div id="a12476_47_83" style="position:absolute;font-weight:normal;font-style:normal;left:263.053px;top:69.4px;"><div style="display:inline-block;width:6.72px"> </div>The exact timing and total costs associated with the QH Program<div style="display:inline-block;width:4.95px"> </div>will depend on a </div><div id="a12516" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">number of factors and is subject to change; however,<div style="display:inline-block;width:5.25px"> </div>the Company currently expects reduction in headcount and<div style="display:inline-block;width:4.74px"> </div>site closures to </div><div id="a12557" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">continue to occur throughout 2021<div style="display:inline-block;width:4.2px"> </div>under the QH Program and estimates that anticipated costs synergies<div style="display:inline-block;width:5.01px"> </div>realized from the QH </div><div id="a12597" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">Program will approximate one-times the restructuring costs<div style="display:inline-block;width:4.69px"> </div>incurred.<div style="display:inline-block;width:7px"> </div>Employee separation benefits will vary depending on local </div><div id="a12631" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.8px;">regulations within certain foreign countries and will<div style="display:inline-block;width:4.69px"> </div>include severance and other benefits.<div style="display:inline-block;width:7.34px"> </div></div><div id="a12656" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:154.1px;">All costs incurred to date relate to severance costs to reduce<div style="display:inline-block;width:4.78px"> </div>headcount as well as costs to close certain facilities and are<div style="display:inline-block;width:4.78px"> </div>recorded </div><div id="a12702" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:169.3px;">in Restructuring and related charges in the<div style="display:inline-block;width:4.8px"> </div>Company’s Condensed Statements<div style="display:inline-block;width:4.72px"> </div>of Operations.<div style="display:inline-block;width:7.07px"> </div>As described in Note 4 of Notes to </div><div id="a12743" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:184.7px;">Condensed Consolidated Financial Statements, restructuring<div style="display:inline-block;width:4.74px"> </div>and related charges are not included in<div style="display:inline-block;width:4.7px"> </div>the Company’s calculation of </div><div id="a12776" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:200px;">reportable segments’ measure of operating earnings<div style="display:inline-block;width:4.71px"> </div>and therefore these costs are not reviewed by or recorded to<div style="display:inline-block;width:4.72px"> </div>reportable segments.</div></div><div id="TextBlockContainer82" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:697px;height:31px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a12864" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">Activity in the Company’s<div style="display:inline-block;width:4.77px"> </div>accrual for restructuring under the QH Program for the three months<div style="display:inline-block;width:4.79px"> </div>ended March 31, 2021 is as </div><div id="a12906" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">follows:</div></div><div id="TextBlockContainer86" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:104px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_84_XBRL_TS_084b9e3fa45045daa11eed560188d9d9" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer85" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:104px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a12911" style="position:absolute;font-weight:bold;font-style:normal;left:578.48px;top:0px;">QH Program </div><div id="a12915" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:17.3px;">Accrued restructuring as of December 31, 2020 </div><div id="a12917" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:17.3px;">$ </div><div id="a12919" style="position:absolute;left:625.52px;top:17.3px;">8,248</div><div id="a12924" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:34.9px;">Restructuring and related charges </div><div id="a12927" style="position:absolute;left:625.52px;top:34.9px;">1,175</div><div id="a12932" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:52.5px;">Cash payments </div><div id="a12935" style="position:absolute;left:619.76px;top:52.5px;">(3,034)</div><div id="a12940" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:70.1px;">Currency translation adjustments </div><div id="a12943" style="position:absolute;left:629.68px;top:70.1px;">(419)</div><div id="a12947" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:88.5px;">Accrued restructuring as of March 31, 2021 </div><div id="a12949" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:88.5px;">$ </div><div id="a12951" style="position:absolute;left:625.52px;top:88.5px;">5,970</div></div></div></div> The Company’s management approved a global restructuring plan (the “QH Program”) as part of its plan to realize certain cost synergies associated with the Combination in the third quarter of 2019. The QH Program includes restructuring and associated severance costs to reduce total headcount by approximately 400 people globally, as well as plans for the closure of certain manufacturing and non-manufacturing facilities. 400 <div id="TextBlockContainer85" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:104px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a12911" style="position:absolute;font-weight:bold;font-style:normal;left:578.48px;top:0px;">QH Program </div><div id="a12915" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:17.3px;">Accrued restructuring as of December 31, 2020 </div><div id="a12917" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:17.3px;">$ </div><div id="a12919" style="position:absolute;left:625.52px;top:17.3px;">8,248</div><div id="a12924" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:34.9px;">Restructuring and related charges </div><div id="a12927" style="position:absolute;left:625.52px;top:34.9px;">1,175</div><div id="a12932" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:52.5px;">Cash payments </div><div id="a12935" style="position:absolute;left:619.76px;top:52.5px;">(3,034)</div><div id="a12940" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:70.1px;">Currency translation adjustments </div><div id="a12943" style="position:absolute;left:629.68px;top:70.1px;">(419)</div><div id="a12947" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:88.5px;">Accrued restructuring as of March 31, 2021 </div><div id="a12949" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:88.5px;">$ </div><div id="a12951" style="position:absolute;left:625.52px;top:88.5px;">5,970</div></div> 8248000 1175000 3034000 419000 5970000 <div id="TextBlockContainer88" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:682px;height:55px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a12954" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 8 – Share-Based Compensation </div><div id="a12967" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">The Company recognized the following share-based compensation<div style="display:inline-block;width:4.83px"> </div>expense in its Condensed Consolidated Statements of </div><div id="a12998" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.7px;">Operations for the three months ended March 31, 2021<div style="display:inline-block;width:4.83px"> </div>and 2020:</div></div><div id="TextBlockContainer92" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:663px;height:170px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_90_XBRL_CS_9124b2f837344956950080968fa61aa7" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer91" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:663px;height:170px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a13022" style="position:absolute;font-weight:bold;font-style:normal;left:505.8px;top:0px;">Three Months Ended </div><div id="a13027" style="position:absolute;font-weight:bold;font-style:normal;left:537.2px;top:17px;">March 31,<div style="display:inline-block;width:3.89px"> </div></div><div id="a13032" style="position:absolute;font-weight:bold;font-style:normal;left:503.56px;top:34.1px;">2021 </div><div id="a13035" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:34.1px;">2020 </div><div id="a13039" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51px;">Stock options </div><div id="a13042" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:51px;">$ </div><div id="a13044" style="position:absolute;left:535.56px;top:51px;">308</div><div id="a13047" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:51px;">$ </div><div id="a13049" style="position:absolute;left:634.64px;top:51px;">432</div><div id="a13053" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;">Non-vested stock awards and restricted stock units </div><div id="a13058" style="position:absolute;left:525.48px;top:68px;">1,396</div><div id="a13062" style="position:absolute;left:624.56px;top:68px;">1,264</div><div id="a13066" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:85px;">Non-elective and elective 401(k) matching contribution in<div style="display:inline-block;width:4.77px"> </div>stock </div><div id="a13071" style="position:absolute;left:525.48px;top:85px;">1,553</div><div id="a13075" style="position:absolute;left:641.36px;top:85px;">—</div><div id="a13079" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:102.1px;">Director stock ownership plan </div><div id="a13082" style="position:absolute;left:535.56px;top:102.1px;">203</div><div id="a13086" style="position:absolute;left:641.36px;top:102.1px;">40</div><div id="a13090" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:119px;">Performance stock units </div><div id="a13093" style="position:absolute;left:535.56px;top:119px;">319</div><div id="a13097" style="position:absolute;left:641.36px;top:119px;">—</div><div id="a13101" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:136px;">Annual incentive plan </div><div id="a13104" style="position:absolute;left:542.32px;top:136px;">—</div><div id="a13108" style="position:absolute;left:624.56px;top:136px;">2,946</div><div id="a13112" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:154.1px;">Total share-based<div style="display:inline-block;width:4.85px"> </div>compensation expense </div><div id="a13116" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:154.1px;">$ </div><div id="a13118" style="position:absolute;left:525.48px;top:154.1px;">3,779</div><div id="a13121" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:154.1px;">$ </div><div id="a13123" style="position:absolute;left:624.56px;top:154.1px;">4,682</div></div></div></div><div id="TextBlockContainer94" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:729px;height:155px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a13126" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">Share-based compensation expense is recorded in SG&amp;A,<div style="display:inline-block;width:4.71px"> </div>except for $</div><div id="a13126_66_3" style="position:absolute;left:404.04px;top:0px;">0.3</div><div id="a13126_69_14" style="position:absolute;font-weight:normal;font-style:normal;left:420.68px;top:0px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a13126_83_3" style="position:absolute;left:495.079px;top:0px;">0.5</div><div id="a13126_86_39" style="position:absolute;font-weight:normal;font-style:normal;left:511.72px;top:0px;"><div style="display:inline-block;width:3.36px"> </div>million during the three months ended </div><div id="a13167" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">March 31, 2021 and 2020, respectively,<div style="display:inline-block;width:5.34px"> </div>recorded within Combination, integration and other acquisition<div style="display:inline-block;width:1.42px"> </div>-related expenses.<div style="display:inline-block;width:6.99px"> </div>The change </div><div id="a13201" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">in total share-based compensation expense for the three<div style="display:inline-block;width:4.8px"> </div>months ended March 31, 2021 includes performance stock units<div style="display:inline-block;width:4.62px"> </div>and non-</div><div id="a13242" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">elective 401(k) matching contributions in stock but excludes annual<div style="display:inline-block;width:4.93px"> </div>incentive plan costs as a component of share-based compensation </div><div id="a13280" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.5px;">beginning in 2020, each described further below. </div><div id="a13294" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:84.7px;">Stock Options </div><div id="a13298" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:108px;">During the first quarter of 2021, the Company granted<div style="display:inline-block;width:4.84px"> </div>stock options under its long-term incentive plan (“LTIP<div style="display:inline-block;width:2.43px"> </div>”) that are subject </div><div id="a13342" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:123.4px;">only to time vesting over a three-year period.<div style="display:inline-block;width:7.89px"> </div>For the purposes of determining the fair value of stock option awards,<div style="display:inline-block;width:4.9px"> </div>the Company </div><div id="a13388" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:138.7px;">used a Black-Scholes option pricing model and the assumptions<div style="display:inline-block;width:4.91px"> </div>set forth in the table below:</div></div><div id="TextBlockContainer97" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:436px;height:84px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a13422" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">Number of options granted </div><div id="a13424" style="position:absolute;left:373.933px;top:0px;">23,733</div><div id="a13429" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:17px;">Dividend yield </div><div id="a13431" style="position:absolute;left:388.333px;top:17px;">0.85</div><div id="a13433" style="position:absolute;font-weight:normal;font-style:normal;left:416.493px;top:17px;">% </div><div id="a13437" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:33.9px;">Expected volatility </div><div id="a13439" style="position:absolute;left:381.613px;top:33.9px;">37.33</div><div id="a13441" style="position:absolute;font-weight:normal;font-style:normal;left:416.493px;top:33.9px;">% </div><div id="a13445" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:50.9px;">Risk-free interest rate </div><div id="a13449" style="position:absolute;left:388.333px;top:50.9px;">0.60</div><div id="a13451" style="position:absolute;font-weight:normal;font-style:normal;left:416.493px;top:50.9px;">% </div><div id="a13455" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;">Expected term (years) </div><div id="a13458" style="position:absolute;left:395.053px;top:68px;">4.0</div></div><div id="TextBlockContainer100" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:730px;height:185px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a13462" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The fair value of these options is amortized on a straight<div style="display:inline-block;width:1.42px"> </div>-line basis over the vesting period.<div style="display:inline-block;width:7.34px"> </div>As of March 31, 2021, unrecognized </div><div id="a13508" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">compensation expense related to all stock options<div style="display:inline-block;width:4.59px"> </div>granted was $</div><div id="a13508_63_3" style="position:absolute;left:346.413px;top:15.4px;">2.8</div><div id="a13508_66_61" style="position:absolute;font-weight:normal;font-style:normal;left:363.213px;top:15.4px;"><div style="display:inline-block;width:3.36px"> </div>million, to be recognized over a weighted average remaining </div><div id="a13546" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.8px;">period of </div><div id="a13546_10_3" style="position:absolute;left:56.459px;top:30.8px;">2.5</div><div id="a13546_13_8" style="position:absolute;font-weight:normal;font-style:normal;left:73.098px;top:30.8px;"><div style="display:inline-block;width:3.36px"> </div>years. </div><div id="a13554" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:54px;">Restricted Stock Awards<div style="display:inline-block;width:5.03px"> </div>and Restricted Stock Units </div><div id="a13568" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:77.3px;">During the first quarter of 2021, the Company granted </div><div id="a13568_54_6" style="position:absolute;left:321.133px;top:77.3px;">12,610</div><div id="a13568_60_33" style="position:absolute;font-weight:normal;font-style:normal;left:357.773px;top:77.3px;"><div style="display:inline-block;width:3.36px"> </div>nonvested restricted shares and </div><div id="a13568_93_5" style="position:absolute;left:530.76px;top:77.3px;">2,791</div><div id="a13568_98_28" style="position:absolute;font-weight:normal;font-style:normal;left:560.84px;top:77.3px;"><div style="display:inline-block;width:3.2px"> </div>nonvested restricted stock </div><div id="a13604" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:92.7px;">units under its LTIP,<div style="display:inline-block;width:6.71px"> </div>subject to time-based vesting, generally over a three-year<div style="display:inline-block;width:4.55px"> </div>period.<div style="display:inline-block;width:6.91px"> </div>The fair value of these grants is based on the </div><div id="a13655" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:108px;">trading price of the Company’s<div style="display:inline-block;width:4.72px"> </div>common stock on the date of grant.<div style="display:inline-block;width:7.52px"> </div>The Company adjusts the grant date fair value of these awards for </div><div id="a13703" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:123.4px;">expected forfeitures based on historical experience.<div style="display:inline-block;width:8.02px"> </div>As of March 31, 2021, unrecognized compensation expense<div style="display:inline-block;width:4.85px"> </div>related to the </div><div id="a13737" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:138.6px;">nonvested restricted shares was $</div><div id="a13737_33_3" style="position:absolute;left:182.213px;top:138.6px;">6.3</div><div id="a13737_36_71" style="position:absolute;font-weight:normal;font-style:normal;left:199.013px;top:138.6px;"><div style="display:inline-block;width:3.36px"> </div>million, to be recognized over a weighted average remaining period<div style="display:inline-block;width:4.65px"> </div>of </div><div id="a13737_107_3" style="position:absolute;left:581.52px;top:138.6px;">2.1</div><div id="a13737_110_12" style="position:absolute;font-weight:normal;font-style:normal;left:598.16px;top:138.6px;"><div style="display:inline-block;width:3.36px"> </div>years, and </div><div id="a13775" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:154px;">unrecognized compensation expense related to nonvested<div style="display:inline-block;width:4.71px"> </div>restricted stock units was $</div><div id="a13775_83_3" style="position:absolute;left:458.44px;top:154px;">1.3</div><div id="a13775_86_43" style="position:absolute;font-weight:normal;font-style:normal;left:475.24px;top:154px;"><div style="display:inline-block;width:3.2px"> </div>million, to be recognized over a weighted </div><div id="a13812" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:169.3px;">average remaining period of </div><div id="a13812_28_3" style="position:absolute;left:158.533px;top:169.3px;">2.3</div><div id="a13812_31_7" style="position:absolute;font-weight:normal;font-style:normal;left:175.173px;top:169.3px;"><div style="display:inline-block;width:3.36px"> </div>years.</div></div><div id="TextBlockContainer102" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:255px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a13874" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Performance Stock Units </div><div id="a13880" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">During the first quarter of 2021,<div style="display:inline-block;width:4.2px"> </div>the Company granted performance-dependent stock awards (“PSUs”) as<div style="display:inline-block;width:4.71px"> </div>a component of its </div><div id="a13920" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.7px;">LTIP,<div style="display:inline-block;width:6.22px"> </div>which will be settled in a certain number of shares subject to market<div style="display:inline-block;width:1.64px"> </div>-based and time-based vesting conditions.<div style="display:inline-block;width:7.73px"> </div>The number of </div><div id="a13966" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.9px;">fully vested shares that may ultimately be issued as settlement<div style="display:inline-block;width:4.87px"> </div>for each award may range from </div><div id="a13966_94_1" style="position:absolute;left:510.599px;top:53.9px;">0</div><div id="a13966_95_8" style="position:absolute;font-weight:normal;font-style:normal;left:517.319px;top:53.9px;">% up to </div><div id="a13966_103_3" style="position:absolute;left:562.119px;top:53.9px;">200</div><div id="a13966_106_23" style="position:absolute;font-weight:normal;font-style:normal;left:582.119px;top:53.9px;">% of the target award, </div><div id="a14015" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">subject to the achievement of the Company’s<div style="display:inline-block;width:5.25px"> </div>total shareholder return (“TSR”) relative to the performance<div style="display:inline-block;width:4.8px"> </div>of the Company’s peer </div><div id="a14053" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">group, the S&amp;P Midcap 400 Materials group.<div style="display:inline-block;width:7.74px"> </div>The service period required for the PSUs is three years and the<div style="display:inline-block;width:4.83px"> </div>TSR measurement </div><div id="a14095" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">period for the PSUs is from January 1 of the year of grant<div style="display:inline-block;width:4.85px"> </div>through December 31 of the year prior to issuance.<div style="display:inline-block;width:7.53px"> </div></div><div id="a14142" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:123.4px;">Compensation expense for PSUs<div style="display:inline-block;width:3.96px"> </div>is measured based on their grant date fair value and<div style="display:inline-block;width:4.75px"> </div>is recognized on a straight-line basis over </div><div id="a14187" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:138.7px;">the three-year vesting period.<div style="display:inline-block;width:7.3px"> </div>The grant-date fair value of the PSUs granted during<div style="display:inline-block;width:4.7px"> </div>the first quarter of 2021 was estimated using a </div><div id="a14236" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153.9px;">Monte Carlo simulation on the grant date and using the<div style="display:inline-block;width:4.78px"> </div>following assumptions: (i) a risk-free rate of </div><div id="a14236_102_4" style="position:absolute;left:541.799px;top:153.9px;">0.29</div><div id="a14236_106_28" style="position:absolute;font-weight:normal;font-style:normal;left:565.319px;top:153.9px;">%; (ii) an expected term of </div><div id="a14286" style="position:absolute;left:4.427px;top:169.3px;">3.0</div><div id="a14286_3_133" style="position:absolute;font-weight:normal;font-style:normal;left:21.227px;top:169.3px;"><div style="display:inline-block;width:3.36px"> </div>years; and (iii) a three-year daily historical volatility for<div style="display:inline-block;width:4.55px"> </div>each of the companies in the peer group, including Quaker<div style="display:inline-block;width:4.84px"> </div>Houghton.<div style="display:inline-block;width:6.92px"> </div></div><div id="a14336" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:192.6px;">As of March 31, 2021, the Company estimates that it will issue<div style="display:inline-block;width:4.79px"> </div>approximately </div><div id="a14336_77_6" style="position:absolute;left:449px;top:192.6px;">28,000</div><div id="a14336_83_42" style="position:absolute;font-weight:normal;font-style:normal;left:485.64px;top:192.6px;"><div style="display:inline-block;width:3.36px"> </div>fully vested shares as of the applicable </div><div id="a14382" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:208px;">settlement dates of all outstanding PSU awards, based<div style="display:inline-block;width:4.81px"> </div>on the conditions of the PSUs and performance to date for each<div style="display:inline-block;width:4.81px"> </div>award. As of </div><div id="a14433" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:223.4px;">March 31, 2021, there was approximately $</div><div id="a14433_41_3" style="position:absolute;left:237.133px;top:223.4px;">4.8</div><div id="a14433_44_84" style="position:absolute;font-weight:normal;font-style:normal;left:253.773px;top:223.4px;"><div style="display:inline-block;width:3.36px"> </div>million of total unrecognized compensation cost related to<div style="display:inline-block;width:4.74px"> </div>PSUs, which the Company </div><div id="a14473" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:238.8px;">expects to recognize over a weighted-average period<div style="display:inline-block;width:4.59px"> </div>of </div><div id="a14473_55_3" style="position:absolute;left:303.053px;top:238.8px;">2.5</div><div id="a14473_58_7" style="position:absolute;font-weight:normal;font-style:normal;left:319.693px;top:238.8px;"><div style="display:inline-block;width:3.2px"> </div>years.</div></div><div id="TextBlockContainer104" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:729px;height:147px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a14496" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Annual Incentive Plan </div><div id="a14502" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.2px;">The Company maintains an Annual Incentive Plan<div style="display:inline-block;width:4.7px"> </div>(“AIP”), which may be settled in cash or a certain number of<div style="display:inline-block;width:4.72px"> </div>shares subject to </div><div id="a14550" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.6px;">performance-based and time-based vesting conditions.<div style="display:inline-block;width:8.02px"> </div>As of March 31, 2020, it was the Company’s<div style="display:inline-block;width:4.95px"> </div>intention to settle the 2020 AIP </div><div id="a14595" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.9px;">in shares, and therefore, expense associated with the AIP in 2020<div style="display:inline-block;width:5.03px"> </div>was recorded as a component of share-based compensation expense. </div><div id="a14639" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">In the fourth quarter of 2020, the Company determined<div style="display:inline-block;width:4.74px"> </div>that it would settle the 2020 AIP in cash.<div style="display:inline-block;width:7.52px"> </div>Therefore, the share-based </div><div id="a14684" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.5px;">compensation associated with the AIP during the year<div style="display:inline-block;width:4.72px"> </div>ended December 31, 2020 was reclassified from a component<div style="display:inline-block;width:4.72px"> </div>of share-based </div><div id="a14725" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:99.8px;">compensation expense to incentive compensation.<div style="display:inline-block;width:7.93px"> </div>This determination and conclusion had no impact on the<div style="display:inline-block;width:4.7px"> </div>classification of AIP </div><div id="a14760" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.2px;">expense within the Company’s<div style="display:inline-block;width:4.79px"> </div>Condensed Consolidated Statement of Operations for<div style="display:inline-block;width:4.77px"> </div>the periods as both are a component of SG&amp;A.<div style="display:inline-block;width:4.38px"> </div></div><div id="a14799" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.6px;">As of March 31, 2021, it is the Company’s<div style="display:inline-block;width:5.27px"> </div>intention to settle the 2021 AIP in cash.</div></div><div id="TextBlockContainer106" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:730px;height:131px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a14835" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Defined Contribution Plan </div><div id="a14841" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">The Company has a 401(k) plan with an employer<div style="display:inline-block;width:4.58px"> </div>match covering a majority of its U.S. employees.<div style="display:inline-block;width:7.97px"> </div>The Company matches </div><div id="a14841_117_2" style="position:absolute;left:694.479px;top:23.4px;">50</div><div id="a14841_119_2" style="position:absolute;font-weight:normal;font-style:normal;left:707.919px;top:23.4px;">% </div><div id="a14885" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.6px;">of the first </div><div id="a14885_13_1" style="position:absolute;left:63.499px;top:38.6px;">6</div><div id="a14885_14_91" style="position:absolute;font-weight:normal;font-style:normal;left:70.219px;top:38.6px;">% of compensation that is contributed to the plan, with a maximum<div style="display:inline-block;width:4.71px"> </div>matching contribution of </div><div id="a14885_105_1" style="position:absolute;left:568.52px;top:38.6px;">3</div><div id="a14885_106_20" style="position:absolute;font-weight:normal;font-style:normal;left:575.239px;top:38.6px;">% of compensation.<div style="display:inline-block;width:3.64px"> </div></div><div id="a14927" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.9px;">Additionally, the<div style="display:inline-block;width:4.65px"> </div>plan provides for non-elective nondiscretionary contributions<div style="display:inline-block;width:4.83px"> </div>on behalf of participants who have completed one year </div><div id="a14963" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">of service equal to </div><div id="a14963_20_1" style="position:absolute;left:106.053px;top:69.3px;">3</div><div id="a14963_21_108" style="position:absolute;font-weight:normal;font-style:normal;left:112.773px;top:69.3px;">% of the eligible participants’ compensation.<div style="display:inline-block;width:7.57px"> </div>Beginning in April 2020 and continuing until April 2021, the </div><div id="a15004" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.7px;">Company matched both non-elective and elective 401(k)<div style="display:inline-block;width:4.82px"> </div>contributions in fully vested shares<div style="display:inline-block;width:3.9px"> </div>of the Company’s common<div style="display:inline-block;width:4.78px"> </div>stock rather </div><div id="a15044" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">than cash.<div style="display:inline-block;width:7.09px"> </div>Total Company contributions<div style="display:inline-block;width:4.89px"> </div>were $</div><div id="a15044_46_3" style="position:absolute;left:260.813px;top:100px;">1.5</div><div id="a15044_49_75" style="position:absolute;font-weight:normal;font-style:normal;left:277.453px;top:100px;"><div style="display:inline-block;width:3.36px"> </div>million for the three months ended March 31, 2021.<div style="display:inline-block;width:7.77px"> </div>There were no similar </div><div id="a15086" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">matching contributions in stock for the three months<div style="display:inline-block;width:4.81px"> </div>ended March 31, 2020.</div></div> <div id="TextBlockContainer91" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:663px;height:170px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a13022" style="position:absolute;font-weight:bold;font-style:normal;left:505.8px;top:0px;">Three Months Ended </div><div id="a13027" style="position:absolute;font-weight:bold;font-style:normal;left:537.2px;top:17px;">March 31,<div style="display:inline-block;width:3.89px"> </div></div><div id="a13032" style="position:absolute;font-weight:bold;font-style:normal;left:503.56px;top:34.1px;">2021 </div><div id="a13035" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:34.1px;">2020 </div><div id="a13039" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51px;">Stock options </div><div id="a13042" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:51px;">$ </div><div id="a13044" style="position:absolute;left:535.56px;top:51px;">308</div><div id="a13047" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:51px;">$ </div><div id="a13049" style="position:absolute;left:634.64px;top:51px;">432</div><div id="a13053" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;">Non-vested stock awards and restricted stock units </div><div id="a13058" style="position:absolute;left:525.48px;top:68px;">1,396</div><div id="a13062" style="position:absolute;left:624.56px;top:68px;">1,264</div><div id="a13066" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:85px;">Non-elective and elective 401(k) matching contribution in<div style="display:inline-block;width:4.77px"> </div>stock </div><div id="a13071" style="position:absolute;left:525.48px;top:85px;">1,553</div><div id="a13075" style="position:absolute;left:641.36px;top:85px;">—</div><div id="a13079" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:102.1px;">Director stock ownership plan </div><div id="a13082" style="position:absolute;left:535.56px;top:102.1px;">203</div><div id="a13086" style="position:absolute;left:641.36px;top:102.1px;">40</div><div id="a13090" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:119px;">Performance stock units </div><div id="a13093" style="position:absolute;left:535.56px;top:119px;">319</div><div id="a13097" style="position:absolute;left:641.36px;top:119px;">—</div><div id="a13101" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:136px;">Annual incentive plan </div><div id="a13104" style="position:absolute;left:542.32px;top:136px;">—</div><div id="a13108" style="position:absolute;left:624.56px;top:136px;">2,946</div><div id="a13112" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:154.1px;">Total share-based<div style="display:inline-block;width:4.85px"> </div>compensation expense </div><div id="a13116" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:154.1px;">$ </div><div id="a13118" style="position:absolute;left:525.48px;top:154.1px;">3,779</div><div id="a13121" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:154.1px;">$ </div><div id="a13123" style="position:absolute;left:624.56px;top:154.1px;">4,682</div></div> 308000 432000 1396000 1264000 1553000 0 203000 40000 319000 0 0 2946000 3779000 4682000 300000 500000 <div id="TextBlockContainer98" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:436px;height:84px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_96_XBRL_TS_4ec098ca5b0c4cf8add5f4d7263393bb" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer97" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:436px;height:84px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a13422" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">Number of options granted </div><div id="a13424" style="position:absolute;left:373.933px;top:0px;">23,733</div><div id="a13429" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:17px;">Dividend yield </div><div id="a13431" style="position:absolute;left:388.333px;top:17px;">0.85</div><div id="a13433" style="position:absolute;font-weight:normal;font-style:normal;left:416.493px;top:17px;">% </div><div id="a13437" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:33.9px;">Expected volatility </div><div id="a13439" style="position:absolute;left:381.613px;top:33.9px;">37.33</div><div id="a13441" style="position:absolute;font-weight:normal;font-style:normal;left:416.493px;top:33.9px;">% </div><div id="a13445" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:50.9px;">Risk-free interest rate </div><div id="a13449" style="position:absolute;left:388.333px;top:50.9px;">0.60</div><div id="a13451" style="position:absolute;font-weight:normal;font-style:normal;left:416.493px;top:50.9px;">% </div><div id="a13455" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;">Expected term (years) </div><div id="a13458" style="position:absolute;left:395.053px;top:68px;">4.0</div></div></div></div> 23733 0.0085 0.3733 0.0060 P4Y 2800000 P2Y6M 12610 2791 6300000 P2Y1M6D 1300000 P2Y3M18D 0 2 0.0029 P3Y 28000 4800000 P2Y6M 0.50 0.06 0.03 0.03 1500000 <div id="TextBlockContainer108" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:640px;height:39px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a15111" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 9 – Pension and Other Postretirement<div style="display:inline-block;width:5.03px"> </div>Benefits </div><div id="a15127" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.2px;">The components of net periodic benefit cost for the<div style="display:inline-block;width:4.72px"> </div>three months ended March 31, 2021 and 2020 are as follows:</div></div><div id="TextBlockContainer111" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:663px;height:179px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a15170" style="position:absolute;font-weight:bold;font-style:normal;left:375.72px;top:0px;">Three Months Ended March 31,<div style="display:inline-block;width:4.64px"> </div></div><div id="a15181" style="position:absolute;font-weight:bold;font-style:normal;left:549.52px;top:15.7px;">Other </div><div id="a15186" style="position:absolute;font-weight:bold;font-style:normal;left:321.613px;top:30.1px;">Pension Benefits </div><div id="a15189" style="position:absolute;font-weight:bold;font-style:normal;left:499.24px;top:30.1px;">Postretirement Benefits </div><div id="a15195" style="position:absolute;font-weight:bold;font-style:normal;left:311.693px;top:45.6px;">2021 </div><div id="a15199" style="position:absolute;font-weight:bold;font-style:normal;left:410.76px;top:45.6px;">2020 </div><div id="a15203" style="position:absolute;font-weight:bold;font-style:normal;left:509.64px;top:45.6px;">2021 </div><div id="a15207" style="position:absolute;font-weight:bold;font-style:normal;left:608.72px;top:45.6px;">2020 </div><div id="a15211" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:60.6px;">Service cost </div><div id="a15213" style="position:absolute;font-weight:normal;font-style:normal;left:276.493px;top:60.6px;">$ </div><div id="a15215" style="position:absolute;left:337.613px;top:60.6px;">316</div><div id="a15218" style="position:absolute;font-weight:normal;font-style:normal;left:375.56px;top:60.6px;">$ </div><div id="a15220" style="position:absolute;left:426.6px;top:60.6px;">1,174</div><div id="a15223" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:60.6px;">$ </div><div id="a15225" style="position:absolute;left:548.88px;top:60.6px;">1</div><div id="a15228" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:60.6px;">$ </div><div id="a15230" style="position:absolute;left:647.92px;top:60.6px;">2</div><div id="a15234" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.7px;">Interest cost </div><div id="a15237" style="position:absolute;left:327.533px;top:76.7px;">1,090</div><div id="a15241" style="position:absolute;left:426.6px;top:76.7px;">1,769</div><div id="a15246" style="position:absolute;left:542.32px;top:76.7px;">11</div><div id="a15250" style="position:absolute;left:641.36px;top:76.7px;">26</div><div id="a15254" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:93.6px;">Expected return on plan assets </div><div id="a15257" style="position:absolute;left:322.733px;top:93.6px;">(2,082)</div><div id="a15261" style="position:absolute;left:421.8px;top:93.6px;">(1,959)</div><div id="a15265" style="position:absolute;left:542.32px;top:93.6px;">—</div><div id="a15269" style="position:absolute;left:641.36px;top:93.6px;">—</div><div id="a15273" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:110.8px;">Settlement loss </div><div id="a15276" style="position:absolute;left:344.333px;top:110.8px;">—</div><div id="a15280" style="position:absolute;left:420.04px;top:110.8px;">22,667</div><div id="a15284" style="position:absolute;left:542.32px;top:110.8px;">—</div><div id="a15288" style="position:absolute;left:641.36px;top:110.8px;">—</div><div id="a15292" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:127.7px;">Actuarial loss amortization </div><div id="a15295" style="position:absolute;left:337.613px;top:127.7px;">855</div><div id="a15299" style="position:absolute;left:426.6px;top:127.7px;">1,047</div><div id="a15303" style="position:absolute;left:542.32px;top:127.7px;">—</div><div id="a15307" style="position:absolute;left:641.36px;top:127.7px;">15</div><div id="a15311" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:144.7px;">Prior service (credit) cost amortization </div><div id="a15314" style="position:absolute;left:350.893px;top:144.7px;">2</div><div id="a15318" style="position:absolute;left:438.44px;top:144.7px;">(40)</div><div id="a15322" style="position:absolute;left:542.32px;top:144.7px;">—</div><div id="a15326" style="position:absolute;left:641.36px;top:144.7px;">—</div><div id="a15330" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:162.8px;">Total net periodic<div style="display:inline-block;width:4.77px"> </div>benefit cost </div><div id="a15332" style="position:absolute;font-weight:normal;font-style:normal;left:276.493px;top:162.8px;">$ </div><div id="a15334" style="position:absolute;left:337.613px;top:162.8px;">181</div><div id="a15337" style="position:absolute;font-weight:normal;font-style:normal;left:375.56px;top:162.8px;">$ </div><div id="a15339" style="position:absolute;left:420.04px;top:162.8px;">24,658</div><div id="a15342" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:162.8px;">$ </div><div id="a15344" style="position:absolute;left:542.32px;top:162.8px;">12</div><div id="a15347" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:162.8px;">$ </div><div id="a15349" style="position:absolute;left:641.36px;top:162.8px;">43</div></div><div id="TextBlockContainer114" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:726px;height:77px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a15352" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">As disclosed in the Company’s<div style="display:inline-block;width:4.79px"> </div>2020 Form 10-K, in the fourth quarter of 2018, the<div style="display:inline-block;width:4.7px"> </div>Company began the process of terminating its </div><div id="a15399" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">legacy Quaker non-contributory U.S. pension plan<div style="display:inline-block;width:4.59px"> </div>(“Legacy Quaker U.S. Pension Plan”).<div style="display:inline-block;width:7.51px"> </div>During the third quarter of 2019, the </div><div id="a15441" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Company received a favorable termination determination<div style="display:inline-block;width:4.81px"> </div>letter from the Internal Revenue<div style="display:inline-block;width:3.76px"> </div>Service (“I.R.S.”) and completed the </div><div id="a15474" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">Legacy Quaker U.S. Pension Plan termination during the<div style="display:inline-block;width:4.79px"> </div>first quarter of 2020.<div style="display:inline-block;width:7.09px"> </div>In order to terminate the Legacy Quaker U.S. Pension </div><div id="a15516" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.4px;">Plan in accordance with I.R.S. and Pension Benefit Guaranty Corporation<div style="display:inline-block;width:5.06px"> </div>requirements, the Company was required to fully fund the </div></div><div id="TextBlockContainer116" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:77px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a15606" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">Legacy Quaker U.S. Pension Plan on a termination basis<div style="display:inline-block;width:4.71px"> </div>and the amount necessary to do so was approximately $</div><div id="a15606_108_3" style="position:absolute;left:607.44px;top:0px;">1.8</div><div id="a15606_111_21" style="position:absolute;font-weight:normal;font-style:normal;left:624.24px;top:0px;"><div style="display:inline-block;width:3.36px"> </div>million, subject to </div><div id="a15651" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">final true up adjustments,<div style="display:inline-block;width:4.08px"> </div>which were completed in the third quarter of 2020.<div style="display:inline-block;width:7.84px"> </div>In addition, the Company recorded a non-cash pension </div><div id="a15698" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">settlement charge at plan termination of<div style="display:inline-block;width:4.69px"> </div>approximately $</div><div id="a15698_56_4" style="position:absolute;left:307.053px;top:30.7px;">22.7</div><div id="a15698_60_74" style="position:absolute;font-weight:normal;font-style:normal;left:330.413px;top:30.7px;"><div style="display:inline-block;width:3.36px"> </div>million.<div style="display:inline-block;width:6.95px"> </div>This settlement charge included the immediate recognition<div style="display:inline-block;width:4.97px"> </div>into </div><div id="a15734" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">expense of the related unrecognized losses within accumulated<div style="display:inline-block;width:4.91px"> </div>other comprehensive (loss) income (“AOCI”) on the balance<div style="display:inline-block;width:4.77px"> </div>sheet as </div><div id="a15770" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">of the plan termination date.</div></div><div id="TextBlockContainer118" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:85px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a15782" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Employer Contributions </div><div id="a15786" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">The Company previously disclosed in its 2020 Form 10-K<div style="display:inline-block;width:4.78px"> </div>that it expected to make minimum cash contributions of $</div><div id="a15786_111_4" style="position:absolute;left:650.639px;top:23.4px;">10.0</div><div id="a15786_115_9" style="position:absolute;font-weight:normal;font-style:normal;left:673.999px;top:23.4px;"><div style="display:inline-block;width:3.36px"> </div>million </div><div id="a15829" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.7px;">to its U.S. and foreign pension plans and approximately<div style="display:inline-block;width:4.75px"> </div>$</div><div id="a15829_57_3" style="position:absolute;left:311.533px;top:38.7px;">0.3</div><div id="a15829_60_77" style="position:absolute;font-weight:normal;font-style:normal;left:328.173px;top:38.7px;"><div style="display:inline-block;width:3.36px"> </div>million to its other postretirement benefit plans in 2021.<div style="display:inline-block;width:7.96px"> </div>As of March 31, </div><div id="a15878" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:54.1px;">2021, $</div><div id="a15878_7_3" style="position:absolute;left:44.619px;top:54.1px;">1.0</div><div id="a15878_10_14" style="position:absolute;font-weight:normal;font-style:normal;left:61.259px;top:54.1px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a15878_24_3" style="position:absolute;left:135.653px;top:54.1px;">0.1</div><div id="a15878_27_103" style="position:absolute;font-weight:normal;font-style:normal;left:152.293px;top:54.1px;"><div style="display:inline-block;width:3.36px"> </div>million of contributions have been made to the Company’s<div style="display:inline-block;width:5.48px"> </div>U.S. and foreign pension plans and its other </div><div id="a15925" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.4px;">postretirement benefit plans, respectively.</div></div> <div id="TextBlockContainer112" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:663px;height:179px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_110_XBRL_TS_07aa3ef302cd42afa99e1b5474319892" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer111" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:663px;height:179px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a15170" style="position:absolute;font-weight:bold;font-style:normal;left:375.72px;top:0px;">Three Months Ended March 31,<div style="display:inline-block;width:4.64px"> </div></div><div id="a15181" style="position:absolute;font-weight:bold;font-style:normal;left:549.52px;top:15.7px;">Other </div><div id="a15186" style="position:absolute;font-weight:bold;font-style:normal;left:321.613px;top:30.1px;">Pension Benefits </div><div id="a15189" style="position:absolute;font-weight:bold;font-style:normal;left:499.24px;top:30.1px;">Postretirement Benefits </div><div id="a15195" style="position:absolute;font-weight:bold;font-style:normal;left:311.693px;top:45.6px;">2021 </div><div id="a15199" style="position:absolute;font-weight:bold;font-style:normal;left:410.76px;top:45.6px;">2020 </div><div id="a15203" style="position:absolute;font-weight:bold;font-style:normal;left:509.64px;top:45.6px;">2021 </div><div id="a15207" style="position:absolute;font-weight:bold;font-style:normal;left:608.72px;top:45.6px;">2020 </div><div id="a15211" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:60.6px;">Service cost </div><div id="a15213" style="position:absolute;font-weight:normal;font-style:normal;left:276.493px;top:60.6px;">$ </div><div id="a15215" style="position:absolute;left:337.613px;top:60.6px;">316</div><div id="a15218" style="position:absolute;font-weight:normal;font-style:normal;left:375.56px;top:60.6px;">$ </div><div id="a15220" style="position:absolute;left:426.6px;top:60.6px;">1,174</div><div id="a15223" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:60.6px;">$ </div><div id="a15225" style="position:absolute;left:548.88px;top:60.6px;">1</div><div id="a15228" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:60.6px;">$ </div><div id="a15230" style="position:absolute;left:647.92px;top:60.6px;">2</div><div id="a15234" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.7px;">Interest cost </div><div id="a15237" style="position:absolute;left:327.533px;top:76.7px;">1,090</div><div id="a15241" style="position:absolute;left:426.6px;top:76.7px;">1,769</div><div id="a15246" style="position:absolute;left:542.32px;top:76.7px;">11</div><div id="a15250" style="position:absolute;left:641.36px;top:76.7px;">26</div><div id="a15254" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:93.6px;">Expected return on plan assets </div><div id="a15257" style="position:absolute;left:322.733px;top:93.6px;">(2,082)</div><div id="a15261" style="position:absolute;left:421.8px;top:93.6px;">(1,959)</div><div id="a15265" style="position:absolute;left:542.32px;top:93.6px;">—</div><div id="a15269" style="position:absolute;left:641.36px;top:93.6px;">—</div><div id="a15273" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:110.8px;">Settlement loss </div><div id="a15276" style="position:absolute;left:344.333px;top:110.8px;">—</div><div id="a15280" style="position:absolute;left:420.04px;top:110.8px;">22,667</div><div id="a15284" style="position:absolute;left:542.32px;top:110.8px;">—</div><div id="a15288" style="position:absolute;left:641.36px;top:110.8px;">—</div><div id="a15292" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:127.7px;">Actuarial loss amortization </div><div id="a15295" style="position:absolute;left:337.613px;top:127.7px;">855</div><div id="a15299" style="position:absolute;left:426.6px;top:127.7px;">1,047</div><div id="a15303" style="position:absolute;left:542.32px;top:127.7px;">—</div><div id="a15307" style="position:absolute;left:641.36px;top:127.7px;">15</div><div id="a15311" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:144.7px;">Prior service (credit) cost amortization </div><div id="a15314" style="position:absolute;left:350.893px;top:144.7px;">2</div><div id="a15318" style="position:absolute;left:438.44px;top:144.7px;">(40)</div><div id="a15322" style="position:absolute;left:542.32px;top:144.7px;">—</div><div id="a15326" style="position:absolute;left:641.36px;top:144.7px;">—</div><div id="a15330" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:162.8px;">Total net periodic<div style="display:inline-block;width:4.77px"> </div>benefit cost </div><div id="a15332" style="position:absolute;font-weight:normal;font-style:normal;left:276.493px;top:162.8px;">$ </div><div id="a15334" style="position:absolute;left:337.613px;top:162.8px;">181</div><div id="a15337" style="position:absolute;font-weight:normal;font-style:normal;left:375.56px;top:162.8px;">$ </div><div id="a15339" style="position:absolute;left:420.04px;top:162.8px;">24,658</div><div id="a15342" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:162.8px;">$ </div><div id="a15344" style="position:absolute;left:542.32px;top:162.8px;">12</div><div id="a15347" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:162.8px;">$ </div><div id="a15349" style="position:absolute;left:641.36px;top:162.8px;">43</div></div></div></div> 316000 1174000 1000 2000 1090000 1769000 11000 26000 2082000 1959000 0 0 0 -22667000 0 0 -855000 -1047000 0 -15000 2000 -40000 0 0 181000 24658000 12000 43000 1800000 22700000 10000000.0 300000 1000000.0 100000 <div id="TextBlockContainer120" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:660px;height:39px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a15934" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 10 – Other Income (Expense), Net</div><div id="a15947" style="position:absolute;font-weight:normal;font-style:normal;left:227.053px;top:0px;"> </div><div id="a15948" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">The components of other income (expense), net for<div style="display:inline-block;width:4.72px"> </div>the three months ended March 31, 2021 and 2020 are as follows:</div></div><div id="TextBlockContainer124" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:167px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_122_XBRL_TS_41e8327c4f0c4e2687870dd1e56a1a50" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer123" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:167px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a15991" style="position:absolute;font-weight:bold;font-style:normal;left:505.8px;top:0px;">Three Months Ended<div style="display:inline-block;width:4.07px"> </div></div><div id="a15997" style="position:absolute;font-weight:bold;font-style:normal;left:537.2px;top:17.1px;">March 31, </div><div id="a16002" style="position:absolute;font-weight:bold;font-style:normal;left:503.56px;top:34.1px;">2021 </div><div id="a16005" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:34.1px;">2020 </div><div id="a16009" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:50.1px;">Income from third party license fees </div><div id="a16011" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:50.1px;">$ </div><div id="a16013" style="position:absolute;left:535.56px;top:50.1px;">339</div><div id="a16016" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:50.1px;">$ </div><div id="a16018" style="position:absolute;left:634.64px;top:50.1px;">304</div><div id="a16022" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:66.1px;">Foreign exchange (losses) gains, net </div><div id="a16025" style="position:absolute;left:520.68px;top:66.1px;">(1,478)</div><div id="a16029" style="position:absolute;left:634.64px;top:66.1px;">821</div><div id="a16033" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:83px;">Gain on disposals of property,<div style="display:inline-block;width:4.9px"> </div>plant, equipment and other assets, net </div><div id="a16036" style="position:absolute;left:525.48px;top:83px;">5,410</div><div id="a16040" style="position:absolute;left:647.92px;top:83px;">2</div><div id="a16044" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">Non-income tax refunds and other related credits </div><div id="a16049" style="position:absolute;left:542.32px;top:100px;">97</div><div id="a16053" style="position:absolute;left:624.56px;top:100px;">1,299</div><div id="a16057" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:117.1px;">Pension and postretirement benefit costs, non-service components </div><div id="a16062" style="position:absolute;left:535.56px;top:117.1px;">124</div><div id="a16066" style="position:absolute;left:613.04px;top:117.1px;">(23,525)</div><div id="a16070" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:134.1px;">Other non-operating income (expense), net </div><div id="a16075" style="position:absolute;left:535.56px;top:134.1px;">195</div><div id="a16079" style="position:absolute;left:636.4px;top:134.1px;">(76)</div><div id="a16083" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:151px;">Total other<div style="display:inline-block;width:4.7px"> </div>income (expense), net </div><div id="a16085" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:151px;">$ </div><div id="a16087" style="position:absolute;left:525.48px;top:151px;">4,687</div><div id="a16090" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:151px;">$ </div><div id="a16092" style="position:absolute;left:613.04px;top:151px;">(21,175)</div></div></div></div><div id="TextBlockContainer126" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:725px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a16095" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The Gain on disposals of property,<div style="display:inline-block;width:5.16px"> </div>plant, equipment and other assets, net, during the three months<div style="display:inline-block;width:4.81px"> </div>ended March 31, 2021, </div><div id="a16136" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.2px;">includes the gain on the sale of certain held-for-sale<div style="display:inline-block;width:4.77px"> </div>real property assets related to the Combination.<div style="display:inline-block;width:7.77px"> </div>Pension and postretirement </div><div id="a16179" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.6px;">benefit costs, non-service components during the three<div style="display:inline-block;width:4.72px"> </div>months ended March 31, 2020 includes $</div><div id="a16179_93_4" style="position:absolute;left:519.88px;top:30.6px;">22.7</div><div id="a16179_97_31" style="position:absolute;font-weight:normal;font-style:normal;left:543.24px;top:30.6px;"><div style="display:inline-block;width:3.36px"> </div>million related to the Legacy </div><div id="a16219" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">Quaker U.S. Pension Plan non-cash settlement charge<div style="display:inline-block;width:5px"> </div>described in Note 9 of Notes to Condensed Consolidated Financial Statements.</div></div> <div id="TextBlockContainer123" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:167px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a15991" style="position:absolute;font-weight:bold;font-style:normal;left:505.8px;top:0px;">Three Months Ended<div style="display:inline-block;width:4.07px"> </div></div><div id="a15997" style="position:absolute;font-weight:bold;font-style:normal;left:537.2px;top:17.1px;">March 31, </div><div id="a16002" style="position:absolute;font-weight:bold;font-style:normal;left:503.56px;top:34.1px;">2021 </div><div id="a16005" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:34.1px;">2020 </div><div id="a16009" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:50.1px;">Income from third party license fees </div><div id="a16011" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:50.1px;">$ </div><div id="a16013" style="position:absolute;left:535.56px;top:50.1px;">339</div><div id="a16016" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:50.1px;">$ </div><div id="a16018" style="position:absolute;left:634.64px;top:50.1px;">304</div><div id="a16022" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:66.1px;">Foreign exchange (losses) gains, net </div><div id="a16025" style="position:absolute;left:520.68px;top:66.1px;">(1,478)</div><div id="a16029" style="position:absolute;left:634.64px;top:66.1px;">821</div><div id="a16033" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:83px;">Gain on disposals of property,<div style="display:inline-block;width:4.9px"> </div>plant, equipment and other assets, net </div><div id="a16036" style="position:absolute;left:525.48px;top:83px;">5,410</div><div id="a16040" style="position:absolute;left:647.92px;top:83px;">2</div><div id="a16044" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">Non-income tax refunds and other related credits </div><div id="a16049" style="position:absolute;left:542.32px;top:100px;">97</div><div id="a16053" style="position:absolute;left:624.56px;top:100px;">1,299</div><div id="a16057" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:117.1px;">Pension and postretirement benefit costs, non-service components </div><div id="a16062" style="position:absolute;left:535.56px;top:117.1px;">124</div><div id="a16066" style="position:absolute;left:613.04px;top:117.1px;">(23,525)</div><div id="a16070" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:134.1px;">Other non-operating income (expense), net </div><div id="a16075" style="position:absolute;left:535.56px;top:134.1px;">195</div><div id="a16079" style="position:absolute;left:636.4px;top:134.1px;">(76)</div><div id="a16083" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:151px;">Total other<div style="display:inline-block;width:4.7px"> </div>income (expense), net </div><div id="a16085" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:151px;">$ </div><div id="a16087" style="position:absolute;left:525.48px;top:151px;">4,687</div><div id="a16090" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:151px;">$ </div><div id="a16092" style="position:absolute;left:613.04px;top:151px;">(21,175)</div></div> 339000 304000 -1478000 821000 5410000 2000 97000 1299000 -124000 23525000 195000 -76000 4687000 -21175000 22700000 <div id="TextBlockContainer128" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:378px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a16257" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 11 – Income Taxes<div style="display:inline-block;width:6.03px"> </div>and Uncertain Income Tax<div style="display:inline-block;width:5.07px"> </div>Positions </div><div id="a16277" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">The Company’s effective<div style="display:inline-block;width:5.08px"> </div>tax rate for the three months ended March 31, 2021 was an expense of </div><div id="a16277_93_4" style="position:absolute;left:545.48px;top:23.4px;">24.2</div><div id="a16277_97_27" style="position:absolute;font-weight:normal;font-style:normal;left:568.839px;top:23.4px;">% compared to a benefit of </div><div id="a16323" style="position:absolute;left:4.427px;top:38.7px;">31.1</div><div id="a16323_4_125" style="position:absolute;font-weight:normal;font-style:normal;left:27.946px;top:38.7px;">% for the three months ended March 31, 2020.<div style="display:inline-block;width:7.76px"> </div>The Company’s effective<div style="display:inline-block;width:4.76px"> </div>tax rate for the three months ended March 31, 2021 was </div><div id="a16369" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.9px;">largely impacted by the sale of certain held-for-sale<div style="display:inline-block;width:5.01px"> </div>real property assets related to the Combination.<div style="display:inline-block;width:7.77px"> </div>Comparatively, the prior<div style="display:inline-block;width:4.7px"> </div>year first </div><div id="a16416" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">quarter effective tax rate was impacted by the<div style="display:inline-block;width:4.79px"> </div>tax effect of certain one-time pre-tax losses as well as certain tax<div style="display:inline-block;width:4.77px"> </div>charges and benefits in </div><div id="a16468" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">the prior year period including those related to changes<div style="display:inline-block;width:4.71px"> </div>in foreign tax credit valuation<div style="display:inline-block;width:3.96px"> </div>allowances, tax law changes in a foreign </div><div id="a16511" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">jurisdiction, and the tax impacts of the Company’s<div style="display:inline-block;width:5.26px"> </div>termination of its Legacy Quaker U.S. Pension Plan and the<div style="display:inline-block;width:4.76px"> </div>Houghton indefinite-</div><div id="a16551" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">lived trademarks and tradename intangible asset impairment. </div><div id="a16565" style="position:absolute;left:28.427px;top:138.7px;">As of December 31, 2020, the Company had a deferred tax liability of $5.9 million, which primarily represents the Company’s </div><div id="a16605" style="position:absolute;left:4.427px;top:153.9px;">estimate of non-U.S. taxes it will incur to repatriate certain foreign earnings to the U.S. The balance as of March 31, 2021 was $6.5 </div><div id="a16656" style="position:absolute;left:4.427px;top:169.3px;">million.</div><div id="a16656_8_2" style="position:absolute;font-weight:normal;font-style:normal;left:46.379px;top:169.3px;"><div style="display:inline-block;width:3.2px"> </div></div><div id="a16659" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:192.7px;">As of March 31, 2021, the Company’s<div style="display:inline-block;width:5.1px"> </div>cumulative liability for gross unrecognized tax benefits was $</div><div id="a16659_98_4" style="position:absolute;left:565.799px;top:192.7px;">23.5</div><div id="a16659_102_25" style="position:absolute;font-weight:normal;font-style:normal;left:589.359px;top:192.7px;"><div style="display:inline-block;width:3.36px"> </div>million, an increase of </div><div id="a16700" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:208px;">$</div><div id="a16700_1_3" style="position:absolute;left:11.147px;top:208px;">1.3</div><div id="a16700_4_73" style="position:absolute;font-weight:normal;font-style:normal;left:27.947px;top:208px;"><div style="display:inline-block;width:3.36px"> </div>million from the cumulative liability accrued as of December 31, 2020.<div style="display:inline-block;width:4.61px"> </div></div><div id="a16725" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:231.4px;">The Company continues to recognize interest and penalties<div style="display:inline-block;width:4.8px"> </div>associated with uncertain tax positions as a component of<div style="display:inline-block;width:4.78px"> </div>taxes on </div><div id="a16764" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:246.6px;">income (loss) before equity in net income of associated<div style="display:inline-block;width:4.77px"> </div>companies in its Condensed Consolidated Statements of Operations.<div style="display:inline-block;width:8.18px"> </div>The </div><div id="a16800" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:262px;">Company recognized an expense of less than $</div><div id="a16800_44_3" style="position:absolute;left:254.573px;top:262px;">0.1</div><div id="a16800_47_50" style="position:absolute;font-weight:normal;font-style:normal;left:271.213px;top:262px;"><div style="display:inline-block;width:3.36px"> </div>million for interest and a benefit of less than $</div><div id="a16800_97_3" style="position:absolute;left:520.679px;top:262px;">0.1</div><div id="a16800_100_30" style="position:absolute;font-weight:normal;font-style:normal;left:537.479px;top:262px;"><div style="display:inline-block;width:3.36px"> </div>million for penalties in its </div><div id="a16846" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:277.3px;">Condensed Consolidated Statement of Operations for the<div style="display:inline-block;width:4.74px"> </div>three months ended March 31, 2021, and recognized an expense of<div style="display:inline-block;width:4.74px"> </div>less than </div><div id="a16886" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:292.7px;">$</div><div id="a16886_1_3" style="position:absolute;left:11.147px;top:292.7px;">0.1</div><div id="a16886_4_50" style="position:absolute;font-weight:normal;font-style:normal;left:27.947px;top:292.7px;"><div style="display:inline-block;width:3.36px"> </div>million for interest and a benefit of less than $</div><div id="a16886_54_3" style="position:absolute;left:277.453px;top:292.7px;">0.1</div><div id="a16886_57_81" style="position:absolute;font-weight:normal;font-style:normal;left:294.093px;top:292.7px;"><div style="display:inline-block;width:3.36px"> </div>million for penalties in its Condensed Consolidated Statement of<div style="display:inline-block;width:4.63px"> </div>Operations for </div><div id="a16930" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:308px;">the three months ended March 31, 2020.<div style="display:inline-block;width:7.83px"> </div>As of March 31, 2021, the Company had accrued $</div><div id="a16930_87_3" style="position:absolute;left:499.879px;top:308px;">3.0</div><div id="a16930_90_37" style="position:absolute;font-weight:normal;font-style:normal;left:516.52px;top:308px;"><div style="display:inline-block;width:3.36px"> </div>million for cumulative interest and </div><div id="a16974" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:323.4px;">$</div><div id="a16974_1_3" style="position:absolute;left:11.147px;top:323.4px;">3.6</div><div id="a16974_4_93" style="position:absolute;font-weight:normal;font-style:normal;left:27.947px;top:323.4px;"><div style="display:inline-block;width:3.36px"> </div>million for cumulative penalties in its Condensed Consolidated Balance<div style="display:inline-block;width:4.82px"> </div>Sheets, compared to $</div><div id="a16974_97_3" style="position:absolute;left:535.24px;top:323.4px;">3.0</div><div id="a16974_100_33" style="position:absolute;font-weight:normal;font-style:normal;left:552.04px;top:323.4px;"><div style="display:inline-block;width:3.2px"> </div>million for cumulative interest </div><div id="a17011" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:338.8px;">and $</div><div id="a17011_5_3" style="position:absolute;left:33.867px;top:338.8px;">3.9</div><div id="a17011_8_64" style="position:absolute;font-weight:normal;font-style:normal;left:50.539px;top:338.8px;"><div style="display:inline-block;width:3.36px"> </div>million for cumulative penalties accrued at December 31, 2020. </div><div id="a17033" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:362px;"><div style="display:inline-block;width:192.03px"> </div></div></div><div id="TextBlockContainer130" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:487px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a17085" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">During the three months ended March 31, 2021 and<div style="display:inline-block;width:4.67px"> </div>2020, the Company recognized decreases of $</div><div id="a17085_92_3" style="position:absolute;left:553.32px;top:0px;">0.3</div><div id="a17085_95_14" style="position:absolute;font-weight:normal;font-style:normal;left:570.16px;top:0px;"><div style="display:inline-block;width:3.2px"> </div>million and $</div><div id="a17085_109_3" style="position:absolute;left:644.559px;top:0px;">0.8</div><div id="a17085_112_10" style="position:absolute;font-weight:normal;font-style:normal;left:661.2px;top:0px;"><div style="display:inline-block;width:3.2px"> </div>million, </div><div id="a17125" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">respectively, in<div style="display:inline-block;width:4.73px"> </div>its cumulative liability for gross unrecognized tax benefits due<div style="display:inline-block;width:4.79px"> </div>to the expiration of the applicable statutes of limitations </div><div id="a17166" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">for certain tax years. </div><div id="a17174" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:51.4px;">The Company estimates that during the year ending December<div style="display:inline-block;width:4.88px"> </div>31, 2021 it will reduce its cumulative liability for gross </div><div id="a17212" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:66.7px;">unrecognized tax benefits by approximately $</div><div id="a17212_44_3" style="position:absolute;left:248.653px;top:66.7px;">1.5</div><div id="a17212_47_88" style="position:absolute;font-weight:normal;font-style:normal;left:265.293px;top:66.7px;"><div style="display:inline-block;width:3.36px"> </div>million due to the expiration of the statute of limitations with regard<div style="display:inline-block;width:4.82px"> </div>to certain tax </div><div id="a17254" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.9px;">positions.<div style="display:inline-block;width:6.99px"> </div>This estimated reduction in the cumulative liability for unrecogniz<div style="display:inline-block;width:1.59px"> </div>ed tax benefits does not consider any increase in liability </div><div id="a17293" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:97.3px;">for unrecognized tax benefits with regard to existing tax<div style="display:inline-block;width:4.66px"> </div>positions or any increase in cumulative liability for unrecognized<div style="display:inline-block;width:4.71px"> </div>tax benefits </div><div id="a17333" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:112.6px;">with regard to new tax positions for the year ending December<div style="display:inline-block;width:4.88px"> </div>31, 2021. </div><div id="a17360" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:133.3px;">The<div style="display:inline-block;width:3.55px"> </div>Company and its subsidiaries are subject to U.S. Federal income<div style="display:inline-block;width:4.79px"> </div>tax, as well as the income tax of various state and foreign </div><div id="a17407" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:148.6px;">tax jurisdictions.<div style="display:inline-block;width:7.18px"> </div>Tax years that remain<div style="display:inline-block;width:4.76px"> </div>subject to examination by major tax jurisdictions include Italy<div style="display:inline-block;width:4.56px"> </div>from </div><div id="a17407_111_4" style="position:absolute;left:582.96px;top:148.6px;">2006</div><div id="a17407_115_14" style="position:absolute;font-weight:normal;font-style:normal;left:609.68px;top:148.6px;">, Brazil from </div><div id="a17407_129_4" style="position:absolute;left:681.36px;top:148.6px;">2011</div><div id="a17407_133_2" style="position:absolute;font-weight:normal;font-style:normal;left:708.08px;top:148.6px;">, </div><div id="a17448" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:164px;">the Netherlands and China from </div><div id="a17448_31_4" style="position:absolute;left:178.853px;top:164px;">2015</div><div id="a17448_35_53" style="position:absolute;font-weight:normal;font-style:normal;left:205.573px;top:164px;">, Mexico, Spain, Germany and the United Kingdom from </div><div id="a17448_88_4" style="position:absolute;left:514.6px;top:164px;">2016</div><div id="a17448_92_27" style="position:absolute;font-weight:normal;font-style:normal;left:541.32px;top:164px;">, Canada and the U.S. from </div><div id="a17448_119_4" style="position:absolute;left:689.84px;top:164px;">2017</div><div id="a17448_123_2" style="position:absolute;font-weight:normal;font-style:normal;left:716.4px;top:164px;">, </div><div id="a17490" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:179.4px;">India from fiscal year beginning April 1, 2018 and ending<div style="display:inline-block;width:4.65px"> </div>March 31, </div><div id="a17490_68_4" style="position:absolute;left:374.893px;top:179.4px;">2019</div><div id="a17490_72_48" style="position:absolute;font-weight:normal;font-style:normal;left:401.613px;top:179.4px;">, and various U.S. state tax jurisdictions from </div><div id="a17490_120_4" style="position:absolute;left:646.32px;top:179.4px;">2011</div><div id="a17490_124_4" style="position:absolute;font-weight:normal;font-style:normal;left:673.039px;top:179.4px;">.<div style="display:inline-block;width:6.6px"> </div></div><div id="a17534" style="position:absolute;left:28.427px;top:200px;">As previously reported, the Italian tax authorities have assessed additional tax due from the Company’s subsidiary, Quaker Italia </div><div id="a17570" style="position:absolute;left:4.427px;top:215.4px;">S.r.l., relating to the tax years 2007 through 2015. The Company has filed for competent authority relief from these assessments under </div><div id="a17613" style="position:absolute;left:4.427px;top:230.8px;">the Mutual Agreement Procedures (“MAP”) of the Organization for Economic Co-Operation and Development for all years except </div><div id="a17649" style="position:absolute;left:4.427px;top:246px;">2007. In 2020, the respective tax authorities in Italy, Spain and the Netherlands reached agreement with respect to the MAP </div><div id="a17689" style="position:absolute;left:4.427px;top:261.3px;">proceedings which the Company has accepted.</div><div id="a17689_43_50" style="position:absolute;font-weight:normal;font-style:normal;left:254.093px;top:261.3px;"><div style="display:inline-block;width:6.72px"> </div>As of March 31, 2021, the Company has received $</div><div id="a17689_93_3" style="position:absolute;left:535.879px;top:261.3px;">1.6</div><div id="a17689_96_29" style="position:absolute;font-weight:normal;font-style:normal;left:552.519px;top:261.3px;"><div style="display:inline-block;width:3.36px"> </div>million in refunds from the </div><div id="a17731" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:276.7px;">Netherlands and Spain and expects to pay $</div><div id="a17731_42_3" style="position:absolute;left:237.453px;top:276.7px;">2.4</div><div id="a17731_45_80" style="position:absolute;font-weight:normal;font-style:normal;left:254.253px;top:276.7px;"><div style="display:inline-block;width:3.2px"> </div>million due to Italy in the second quarter of 2021.<div style="display:inline-block;width:7.96px"> </div>As of March 31, 2021, the </div><div id="a17779" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:292px;">Company believes it has adequate reserves for the remaining<div style="display:inline-block;width:4.71px"> </div>uncertain tax positions related to 2007. </div><div id="a17809" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:312.7px;">Houghton Italia, S.r.l<div style="display:inline-block;width:4.74px"> </div>is also involved in a corporate income tax audit with the Italian tax<div style="display:inline-block;width:4.82px"> </div>authorities covering tax years 2014 </div><div id="a17851" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:328px;">through 2018.<div style="display:inline-block;width:7.12px"> </div>As of March 31, 2021, the Company has a $</div><div id="a17851_56_3" style="position:absolute;left:321.933px;top:328px;">5.5</div><div id="a17851_59_76" style="position:absolute;font-weight:normal;font-style:normal;left:338.733px;top:328px;"><div style="display:inline-block;width:3.36px"> </div>million reserve for uncertain tax positions relating to matters related<div style="display:inline-block;width:4.7px"> </div>to </div><div id="a17897" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:343.4px;">this audit.<div style="display:inline-block;width:7.01px"> </div>Since the reserve relates to the tax periods prior to August<div style="display:inline-block;width:4.7px"> </div>1, 2019, the tax liability was established through purchase </div><div id="a17942" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:358.6px;">accounting related to the Combination.<div style="display:inline-block;width:7.74px"> </div>The Company has also submitted an indemnification claim against<div style="display:inline-block;width:4.73px"> </div>funds held in escrow<div style="display:inline-block;width:3.65px"> </div>by </div><div id="a17981" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:374px;">Houghton’s former owners<div style="display:inline-block;width:4.76px"> </div>and as a result, a corresponding $</div><div id="a17981_59_3" style="position:absolute;left:330.413px;top:374px;">5.5</div><div id="a17981_62_70" style="position:absolute;font-weight:normal;font-style:normal;left:347.213px;top:374px;"><div style="display:inline-block;width:3.36px"> </div>million indemnification receivable has also been established through </div><div id="a18017" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:389.3px;">purchase accounting. </div><div id="a18021" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:410px;">Houghton Deutschland GmbH is also under audit by<div style="display:inline-block;width:4.7px"> </div>the German tax authorities for the tax years 2015-2017.<div style="display:inline-block;width:7.82px"> </div>Based on </div><div id="a18062" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:425.3px;">preliminary audit findings, primarily related to<div style="display:inline-block;width:4.72px"> </div>transfer pricing, the Company has recorded reserves for $</div><div id="a18062_106_3" style="position:absolute;left:563.879px;top:425.3px;">0.9</div><div id="a18062_109_25" style="position:absolute;font-weight:normal;font-style:normal;left:580.56px;top:425.3px;"><div style="display:inline-block;width:3.36px"> </div>million as of March 31, </div><div id="a18102" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:440.7px;">2021.<div style="display:inline-block;width:6.95px"> </div>Of this amount, $</div><div id="a18102_24_3" style="position:absolute;left:134.533px;top:440.7px;">0.8</div><div id="a18102_27_100" style="position:absolute;font-weight:normal;font-style:normal;left:151.333px;top:440.7px;"><div style="display:inline-block;width:3.2px"> </div>million relates to tax periods prior to the Combination and<div style="display:inline-block;width:4.71px"> </div>therefore the Company has submitted an </div><div id="a18145" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:456.1px;">indemnification claim with Houghton’s<div style="display:inline-block;width:5.18px"> </div>former owners for any tax liabilities arising pre-Combination.<div style="display:inline-block;width:7.96px"> </div>As a result, a corresponding </div><div id="a18181" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:471.4px;">$</div><div id="a18181_1_3" style="position:absolute;left:11.147px;top:471.4px;">0.8</div><div id="a18181_4_77" style="position:absolute;font-weight:normal;font-style:normal;left:27.947px;top:471.4px;"><div style="display:inline-block;width:3.36px"> </div>million indemnification receivable has also been established to<div style="display:inline-block;width:4.72px"> </div>offset the $</div><div id="a18181_81_3" style="position:absolute;left:429.8px;top:471.4px;">0.8</div><div id="a18181_84_23" style="position:absolute;font-weight:normal;font-style:normal;left:446.44px;top:471.4px;"><div style="display:inline-block;width:3.36px"> </div>million tax liability.</div></div> 0.242 0.311 As of December 31, 2020, the Company had a deferred tax liability of $5.9 million, which primarily represents the Company’s estimate of non-U.S. taxes it will incur to repatriate certain foreign earnings to the U.S. The balance as of March 31, 2021 was $6.5 million. 5900000 6500000 23500000 1300000 100000 100000 100000 100000 3000000.0 3600000 3000000.0 3900000 300000 800000 1500000 2006 2011 2015 2015 2016 2016 2016 2016 2017 2019 2011 As previously reported, the Italian tax authorities have assessed additional tax due from the Company’s subsidiary, Quaker Italia S.r.l., relating to the tax years 2007 through 2015. The Company has filed for competent authority relief from these assessments under the Mutual Agreement Procedures (“MAP”) of the Organization for Economic Co-Operation and Development for all years except 2007. In 2020, the respective tax authorities in Italy, Spain and the Netherlands reached agreement with respect to the MAP proceedings which the Company has accepted. 1600000 2400000 5500000 5500000 5500000 900000 800000 800000 800000 <div id="TextBlockContainer132" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:668px;height:39px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a18211" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 12 – Earnings Per Share </div><div id="a18223" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">The following table summarizes earnings per share calculations<div style="display:inline-block;width:4.95px"> </div>for the three months ended March 31, 2021 and 2020:</div></div><div id="TextBlockContainer136" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:666px;height:304px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_134_XBRL_CS_5dcb52a1e43d41cf94260a6d9a167108" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer135" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:666px;height:304px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a18262" style="position:absolute;font-weight:bold;font-style:normal;left:504.68px;top:0px;">Three Months Ended </div><div id="a18268" style="position:absolute;font-weight:bold;font-style:normal;left:536.2px;top:17px;">March 31,<div style="display:inline-block;width:3.93px"> </div></div><div id="a18274" style="position:absolute;font-weight:bold;font-style:normal;left:502.6px;top:33.8px;">2021 </div><div id="a18277" style="position:absolute;font-weight:bold;font-style:normal;left:600.72px;top:33.8px;">2020 </div><div id="a18281" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:49.8px;">Basic earnings (loss) per common share </div><div id="a18284" style="position:absolute;font-weight:normal;font-style:normal;left:484.52px;top:49.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a18292" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:66.7px;">Net income (loss) attributable to Quaker Chemical Corporation </div><div id="a18294" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:66.7px;">$ </div><div id="a18296" style="position:absolute;left:517px;top:66.7px;">38,615</div><div id="a18299" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:66.7px;">$ </div><div id="a18301" style="position:absolute;left:611.12px;top:66.7px;">(28,381)</div><div id="a18306" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:83.8px;">Less: (income) loss allocated to participating securities </div><div id="a18308" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:83.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a18310" style="position:absolute;left:528.68px;top:83.8px;">(154)</div><div id="a18313" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:83.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a18315" style="position:absolute;left:632.72px;top:83.8px;">101</div><div id="a18320" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:100.8px;">Net income (loss) available to common shareholders </div><div id="a18322" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:100.8px;">$<div style="display:inline-block;width:3.44px"> </div></div><div id="a18324" style="position:absolute;left:517px;top:100.8px;">38,461</div><div id="a18327" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:100.8px;">$ </div><div id="a18329" style="position:absolute;left:611.12px;top:100.8px;">(28,280)</div><div id="a18334" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:117.8px;">Basic weighted average common shares outstanding </div><div id="a18337" style="position:absolute;left:494.6px;top:117.8px;">17,785,370</div><div id="a18341" style="position:absolute;left:593.68px;top:117.8px;">17,672,525</div><div id="a18345" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:134.8px;">Basic earnings (loss) per common share </div><div id="a18348" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:134.8px;">$ </div><div id="a18350" style="position:absolute;left:530.28px;top:134.8px;">2.16</div><div id="a18353" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:134.8px;">$ </div><div id="a18355" style="position:absolute;left:624.56px;top:134.8px;">(1.60)</div><div id="a18368" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:168.8px;">Diluted earnings (loss) per common share </div><div id="a18378" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:185.8px;">Net income (loss) attributable to Quaker Chemical Corporation </div><div id="a18380" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:185.8px;">$ </div><div id="a18382" style="position:absolute;left:517px;top:185.8px;">38,615</div><div id="a18385" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:185.8px;">$ </div><div id="a18387" style="position:absolute;left:611.12px;top:185.8px;">(28,381)</div><div id="a18392" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:202.8px;">Less: (income) loss allocated to participating securities </div><div id="a18396" style="position:absolute;left:528.68px;top:202.8px;">(154)</div><div id="a18400" style="position:absolute;left:632.72px;top:202.8px;">101</div><div id="a18405" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:219.9px;">Net income (loss) available to common shareholders </div><div id="a18407" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:219.9px;">$ </div><div id="a18409" style="position:absolute;left:517px;top:219.9px;">38,461</div><div id="a18412" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:219.9px;">$ </div><div id="a18414" style="position:absolute;left:611.12px;top:219.9px;">(28,280)</div><div id="a18419" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:236px;">Basic weighted average common shares outstanding </div><div id="a18422" style="position:absolute;left:494.6px;top:236px;">17,785,370</div><div id="a18426" style="position:absolute;left:593.68px;top:236px;">17,672,525</div><div id="a18431" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:253px;">Effect of dilutive securities </div><div id="a18434" style="position:absolute;left:517.96px;top:253px;">70,607</div><div id="a18438" style="position:absolute;left:640.4px;top:253px;">—</div><div id="a18443" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:270.3px;">Diluted weighted average common shares outstanding </div><div id="a18446" style="position:absolute;left:494.6px;top:270.3px;">17,855,977</div><div id="a18450" style="position:absolute;left:593.68px;top:270.3px;">17,672,525</div><div id="a18454" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:287.9px;">Diluted earnings (loss) per common share </div><div id="a18457" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:286.9px;">$ </div><div id="a18459" style="position:absolute;left:530.28px;top:287.9px;">2.15</div><div id="a18462" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:286.9px;">$ </div><div id="a18464" style="position:absolute;left:624.56px;top:287.9px;">(1.60)</div></div></div></div><div id="TextBlockContainer138" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a18518" style="position:absolute;left:28.427px;top:0px;">Certain stock options and restricted stock units are not included in the diluted earnings (loss) per share calculation when the effect </div><div id="a18560" style="position:absolute;left:4.427px;top:15.4px;">would have been anti-dilutive. The calculated amount of anti-diluted shares not included was 2,083 for the three months ended March </div><div id="a18605" style="position:absolute;left:4.427px;top:30.7px;">31, 2021. All of the Company’s potentially dilutive shares for the three months ended March 31, 2020 are anti-dilutive and not </div><div id="a18649" style="position:absolute;left:4.427px;top:46.1px;">included in the dilutive loss per share calculations because of the Company’s net loss during the period.</div></div> <div id="TextBlockContainer135" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:666px;height:304px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a18262" style="position:absolute;font-weight:bold;font-style:normal;left:504.68px;top:0px;">Three Months Ended </div><div id="a18268" style="position:absolute;font-weight:bold;font-style:normal;left:536.2px;top:17px;">March 31,<div style="display:inline-block;width:3.93px"> </div></div><div id="a18274" style="position:absolute;font-weight:bold;font-style:normal;left:502.6px;top:33.8px;">2021 </div><div id="a18277" style="position:absolute;font-weight:bold;font-style:normal;left:600.72px;top:33.8px;">2020 </div><div id="a18281" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:49.8px;">Basic earnings (loss) per common share </div><div id="a18284" style="position:absolute;font-weight:normal;font-style:normal;left:484.52px;top:49.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a18292" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:66.7px;">Net income (loss) attributable to Quaker Chemical Corporation </div><div id="a18294" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:66.7px;">$ </div><div id="a18296" style="position:absolute;left:517px;top:66.7px;">38,615</div><div id="a18299" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:66.7px;">$ </div><div id="a18301" style="position:absolute;left:611.12px;top:66.7px;">(28,381)</div><div id="a18306" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:83.8px;">Less: (income) loss allocated to participating securities </div><div id="a18308" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:83.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a18310" style="position:absolute;left:528.68px;top:83.8px;">(154)</div><div id="a18313" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:83.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a18315" style="position:absolute;left:632.72px;top:83.8px;">101</div><div id="a18320" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:100.8px;">Net income (loss) available to common shareholders </div><div id="a18322" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:100.8px;">$<div style="display:inline-block;width:3.44px"> </div></div><div id="a18324" style="position:absolute;left:517px;top:100.8px;">38,461</div><div id="a18327" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:100.8px;">$ </div><div id="a18329" style="position:absolute;left:611.12px;top:100.8px;">(28,280)</div><div id="a18334" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:117.8px;">Basic weighted average common shares outstanding </div><div id="a18337" style="position:absolute;left:494.6px;top:117.8px;">17,785,370</div><div id="a18341" style="position:absolute;left:593.68px;top:117.8px;">17,672,525</div><div id="a18345" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:134.8px;">Basic earnings (loss) per common share </div><div id="a18348" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:134.8px;">$ </div><div id="a18350" style="position:absolute;left:530.28px;top:134.8px;">2.16</div><div id="a18353" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:134.8px;">$ </div><div id="a18355" style="position:absolute;left:624.56px;top:134.8px;">(1.60)</div><div id="a18368" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:168.8px;">Diluted earnings (loss) per common share </div><div id="a18378" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:185.8px;">Net income (loss) attributable to Quaker Chemical Corporation </div><div id="a18380" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:185.8px;">$ </div><div id="a18382" style="position:absolute;left:517px;top:185.8px;">38,615</div><div id="a18385" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:185.8px;">$ </div><div id="a18387" style="position:absolute;left:611.12px;top:185.8px;">(28,381)</div><div id="a18392" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:202.8px;">Less: (income) loss allocated to participating securities </div><div id="a18396" style="position:absolute;left:528.68px;top:202.8px;">(154)</div><div id="a18400" style="position:absolute;left:632.72px;top:202.8px;">101</div><div id="a18405" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:219.9px;">Net income (loss) available to common shareholders </div><div id="a18407" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:219.9px;">$ </div><div id="a18409" style="position:absolute;left:517px;top:219.9px;">38,461</div><div id="a18412" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:219.9px;">$ </div><div id="a18414" style="position:absolute;left:611.12px;top:219.9px;">(28,280)</div><div id="a18419" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:236px;">Basic weighted average common shares outstanding </div><div id="a18422" style="position:absolute;left:494.6px;top:236px;">17,785,370</div><div id="a18426" style="position:absolute;left:593.68px;top:236px;">17,672,525</div><div id="a18431" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:253px;">Effect of dilutive securities </div><div id="a18434" style="position:absolute;left:517.96px;top:253px;">70,607</div><div id="a18438" style="position:absolute;left:640.4px;top:253px;">—</div><div id="a18443" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:270.3px;">Diluted weighted average common shares outstanding </div><div id="a18446" style="position:absolute;left:494.6px;top:270.3px;">17,855,977</div><div id="a18450" style="position:absolute;left:593.68px;top:270.3px;">17,672,525</div><div id="a18454" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:287.9px;">Diluted earnings (loss) per common share </div><div id="a18457" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:286.9px;">$ </div><div id="a18459" style="position:absolute;left:530.28px;top:287.9px;">2.15</div><div id="a18462" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:286.9px;">$ </div><div id="a18464" style="position:absolute;left:624.56px;top:287.9px;">(1.60)</div></div> 38615000 -28381000 154000 -101000 38461000 -28280000 17785370 17672525 2.16 -1.60 38615000 -28381000 154000 -101000 38461000 -28280000 17785370 17672525 70607 0 17855977 17672525 2.15 -1.60 Certain stock options and restricted stock units are not included in the diluted earnings (loss) per share calculation when the effect would have been anti-dilutive. The calculated amount of anti-diluted shares not included was 2,083 for the three months ended March 31, 2021. All of the Company’s potentially dilutive shares for the three months ended March 31, 2020 are anti-dilutive and not included in the dilutive loss per share calculations because of the Company’s net loss during the period. 2083 <div id="TextBlockContainer140" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:730px;height:201px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a18685" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 13 – Restricted Cash </div><div id="a18695" style="position:absolute;left:28.427px;top:23.4px;">Prior to December 2020, the Company had restricted cash recorded in other assets related to proceeds from an inactive subsidiary </div><div id="a18737" style="position:absolute;left:4.427px;top:38.7px;">of the Company which previously executed separate settlement and release agreements with two of its insurance carriers for an </div><div id="a18775" style="position:absolute;left:4.427px;top:54.1px;">original total value of $35.0 million. The proceeds of both settlements were restricted and could only be used to pay claims and costs </div><div id="a18822" style="position:absolute;left:4.427px;top:69.4px;">of defense associated with the subsidiary’s asbestos litigation. The proceeds of the settlement and release agreements were deposited </div><div id="a18859" style="position:absolute;left:4.427px;top:84.6px;">into interest bearing accounts that earned less than $0.1 million offset by $0.2 million of net payments during the three months ended </div><div id="a18905" style="position:absolute;left:4.427px;top:100px;">March 31, 2020.</div><div id="a18905_15_117" style="position:absolute;font-weight:normal;font-style:normal;left:92.773px;top:100px;"><div style="display:inline-block;width:6.72px"> </div>Due to the restricted nature of the proceeds, a corresponding<div style="display:inline-block;width:4.54px"> </div>deferred credit was established in other non-current </div><div id="a18950" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">liabilities for an equal and offsetting amount<div style="display:inline-block;width:4.76px"> </div>that continued until the restrictions lapsed.<div style="display:inline-block;width:7.6px"> </div>As disclosed in the Company’s<div style="display:inline-block;width:4.8px"> </div>2020 Form </div><div id="a18993" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.7px;">10-K, during December 2020, the restrictions ended<div style="display:inline-block;width:4.6px"> </div>on these previously received insurance settlements and the<div style="display:inline-block;width:4.72px"> </div>Company transferred </div><div id="a19029" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:146.1px;">the cash into an operating account.<div style="display:inline-block;width:7.49px"> </div></div><div id="a19042" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:169.5px;">The following table provides a reconciliation of cash,<div style="display:inline-block;width:4.76px"> </div>cash equivalents and restricted cash as of March 31, 2021 and<div style="display:inline-block;width:4.62px"> </div>2020, as well </div><div id="a19086" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:184.8px;">as December 31, 2020 and 2019:</div></div><div id="TextBlockContainer144" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:663px;height:105px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_142_XBRL_TS_77cb4d2ae540449a9ed4915e3b71475c" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer143" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:663px;height:105px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19102" style="position:absolute;font-weight:bold;font-style:normal;left:355.213px;top:0px;">March 31,<div style="display:inline-block;width:3.92px"> </div></div><div id="a19105" style="position:absolute;font-weight:bold;font-style:normal;left:531.56px;top:0px;">December 31, </div><div id="a19111" style="position:absolute;font-weight:bold;font-style:normal;left:324.653px;top:17.6px;">2021 </div><div id="a19114" style="position:absolute;font-weight:bold;font-style:normal;left:417.64px;top:17.6px;">2020 </div><div id="a19117" style="position:absolute;font-weight:bold;font-style:normal;left:510.6px;top:17.6px;">2020 </div><div id="a19120" style="position:absolute;font-weight:bold;font-style:normal;left:603.76px;top:17.6px;">2019 </div><div id="a19124" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:35.2px;">Cash and cash equivalents </div><div id="a19126" style="position:absolute;font-weight:normal;font-style:normal;left:296.493px;top:35.2px;">$ </div><div id="a19128" style="position:absolute;left:332.173px;top:35.2px;">163,455</div><div id="a19131" style="position:absolute;font-weight:normal;font-style:normal;left:389.48px;top:35.2px;">$ </div><div id="a19133" style="position:absolute;left:425.32px;top:35.2px;">316,437</div><div id="a19136" style="position:absolute;font-weight:normal;font-style:normal;left:482.44px;top:35.2px;">$ </div><div id="a19138" style="position:absolute;left:518.28px;top:35.2px;">181,833</div><div id="a19141" style="position:absolute;font-weight:normal;font-style:normal;left:575.6px;top:35.2px;">$ </div><div id="a19143" style="position:absolute;left:611.28px;top:35.2px;">123,524</div><div id="a19147" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:52.8px;">Restricted cash included in other current assets </div><div id="a19150" style="position:absolute;left:362.28px;top:52.8px;">—</div><div id="a19154" style="position:absolute;left:455.4px;top:52.8px;">34</div><div id="a19158" style="position:absolute;left:548.4px;top:52.8px;">62</div><div id="a19162" style="position:absolute;left:634.64px;top:52.8px;">353</div><div id="a19166" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:70.4px;">Restricted cash included in other assets </div><div id="a19169" style="position:absolute;left:362.28px;top:70.4px;">—</div><div id="a19173" style="position:absolute;left:432.04px;top:70.4px;">19,480</div><div id="a19177" style="position:absolute;left:548.4px;top:70.4px;">—</div><div id="a19181" style="position:absolute;left:618px;top:70.4px;">19,678</div><div id="a19185" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:88.8px;">Cash, cash equivalents and restricted cash </div><div id="a19187" style="position:absolute;font-weight:normal;font-style:normal;left:296.493px;top:88.8px;">$ </div><div id="a19189" style="position:absolute;left:332.173px;top:88.8px;">163,455</div><div id="a19192" style="position:absolute;font-weight:normal;font-style:normal;left:389.48px;top:88.8px;">$ </div><div id="a19194" style="position:absolute;left:425.32px;top:88.8px;">335,951</div><div id="a19197" style="position:absolute;font-weight:normal;font-style:normal;left:482.44px;top:88.8px;">$ </div><div id="a19199" style="position:absolute;left:518.28px;top:88.8px;">181,895</div><div id="a19202" style="position:absolute;font-weight:normal;font-style:normal;left:575.6px;top:88.8px;">$ </div><div id="a19204" style="position:absolute;left:611.28px;top:88.8px;">143,555</div></div></div></div> Prior to December 2020, the Company had restricted cash recorded in other assets related to proceeds from an inactive subsidiary of the Company which previously executed separate settlement and release agreements with two of its insurance carriers for an original total value of $35.0 million. The proceeds of both settlements were restricted and could only be used to pay claims and costs of defense associated with the subsidiary’s asbestos litigation. The proceeds of the settlement and release agreements were deposited into interest bearing accounts that earned less than $0.1 million offset by $0.2 million of net payments during the three months ended March 31, 2020. 100000 200000 <div id="TextBlockContainer143" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:663px;height:105px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19102" style="position:absolute;font-weight:bold;font-style:normal;left:355.213px;top:0px;">March 31,<div style="display:inline-block;width:3.92px"> </div></div><div id="a19105" style="position:absolute;font-weight:bold;font-style:normal;left:531.56px;top:0px;">December 31, </div><div id="a19111" style="position:absolute;font-weight:bold;font-style:normal;left:324.653px;top:17.6px;">2021 </div><div id="a19114" style="position:absolute;font-weight:bold;font-style:normal;left:417.64px;top:17.6px;">2020 </div><div id="a19117" style="position:absolute;font-weight:bold;font-style:normal;left:510.6px;top:17.6px;">2020 </div><div id="a19120" style="position:absolute;font-weight:bold;font-style:normal;left:603.76px;top:17.6px;">2019 </div><div id="a19124" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:35.2px;">Cash and cash equivalents </div><div id="a19126" style="position:absolute;font-weight:normal;font-style:normal;left:296.493px;top:35.2px;">$ </div><div id="a19128" style="position:absolute;left:332.173px;top:35.2px;">163,455</div><div id="a19131" style="position:absolute;font-weight:normal;font-style:normal;left:389.48px;top:35.2px;">$ </div><div id="a19133" style="position:absolute;left:425.32px;top:35.2px;">316,437</div><div id="a19136" style="position:absolute;font-weight:normal;font-style:normal;left:482.44px;top:35.2px;">$ </div><div id="a19138" style="position:absolute;left:518.28px;top:35.2px;">181,833</div><div id="a19141" style="position:absolute;font-weight:normal;font-style:normal;left:575.6px;top:35.2px;">$ </div><div id="a19143" style="position:absolute;left:611.28px;top:35.2px;">123,524</div><div id="a19147" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:52.8px;">Restricted cash included in other current assets </div><div id="a19150" style="position:absolute;left:362.28px;top:52.8px;">—</div><div id="a19154" style="position:absolute;left:455.4px;top:52.8px;">34</div><div id="a19158" style="position:absolute;left:548.4px;top:52.8px;">62</div><div id="a19162" style="position:absolute;left:634.64px;top:52.8px;">353</div><div id="a19166" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:70.4px;">Restricted cash included in other assets </div><div id="a19169" style="position:absolute;left:362.28px;top:70.4px;">—</div><div id="a19173" style="position:absolute;left:432.04px;top:70.4px;">19,480</div><div id="a19177" style="position:absolute;left:548.4px;top:70.4px;">—</div><div id="a19181" style="position:absolute;left:618px;top:70.4px;">19,678</div><div id="a19185" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:88.8px;">Cash, cash equivalents and restricted cash </div><div id="a19187" style="position:absolute;font-weight:normal;font-style:normal;left:296.493px;top:88.8px;">$ </div><div id="a19189" style="position:absolute;left:332.173px;top:88.8px;">163,455</div><div id="a19192" style="position:absolute;font-weight:normal;font-style:normal;left:389.48px;top:88.8px;">$ </div><div id="a19194" style="position:absolute;left:425.32px;top:88.8px;">335,951</div><div id="a19197" style="position:absolute;font-weight:normal;font-style:normal;left:482.44px;top:88.8px;">$ </div><div id="a19199" style="position:absolute;left:518.28px;top:88.8px;">181,895</div><div id="a19202" style="position:absolute;font-weight:normal;font-style:normal;left:575.6px;top:88.8px;">$ </div><div id="a19204" style="position:absolute;left:611.28px;top:88.8px;">143,555</div></div> 163455000 316437000 181833000 123524000 0 34000 62000 353000 0 19480000 0 19678000 163455000 335951000 181895000 143555000 <div id="TextBlockContainer146" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:598px;height:39px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19207" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 14 – Goodwill and Other Intangible Assets<div style="display:inline-block;width:4.54px"> </div></div><div id="a19224" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">Changes in the carrying amount of goodwill for the<div style="display:inline-block;width:4.75px"> </div>three months ended March 31, 2020 were as follows:</div></div><div id="TextBlockContainer149" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:116px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19271" style="position:absolute;font-weight:bold;font-style:normal;left:568.68px;top:0px;">Global </div><div id="a19286" style="position:absolute;font-weight:bold;font-style:normal;left:562.12px;top:16.2px;">Specialty </div><div id="a19293" style="position:absolute;font-weight:bold;font-style:normal;left:278.093px;top:31.2px;">Americas </div><div id="a19296" style="position:absolute;font-weight:bold;font-style:normal;left:380.013px;top:31.2px;">EMEA </div><div id="a19299" style="position:absolute;font-weight:bold;font-style:normal;left:461.32px;top:31.2px;">Asia/Pacific </div><div id="a19302" style="position:absolute;font-weight:bold;font-style:normal;left:557.96px;top:31.2px;">Businesses </div><div id="a19305" style="position:absolute;font-weight:bold;font-style:normal;left:666px;top:31.2px;">Total </div><div id="a19307" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:47.8px;">Balance as of December 31, 2020 </div><div id="a19310" style="position:absolute;font-weight:normal;font-style:normal;left:263.533px;top:47.8px;">$ </div><div id="a19312" style="position:absolute;left:300.173px;top:47.8px;">213,242</div><div id="a19315" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:47.8px;">$ </div><div id="a19317" style="position:absolute;left:395.24px;top:47.8px;">140,162</div><div id="a19320" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:47.8px;">$ </div><div id="a19322" style="position:absolute;left:490.28px;top:47.8px;">158,090</div><div id="a19325" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:47.8px;">$ </div><div id="a19327" style="position:absolute;left:583.28px;top:47.8px;">119,718</div><div id="a19329" style="position:absolute;font-weight:normal;font-style:normal;left:631.6px;top:47.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19331" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:47.8px;">$ </div><div id="a19333" style="position:absolute;left:676.24px;top:47.8px;">631,212</div><div id="a19336" style="position:absolute;font-weight:normal;font-style:normal;left:19.467px;top:64.8px;">Goodwill additions </div><div id="a19339" style="position:absolute;left:312.493px;top:64.8px;">1,093</div><div id="a19343" style="position:absolute;left:407.56px;top:64.8px;">2,626</div><div id="a19347" style="position:absolute;left:502.6px;top:64.8px;">1,308</div><div id="a19351" style="position:absolute;left:612.4px;top:64.8px;">25</div><div id="a19355" style="position:absolute;left:688.56px;top:64.8px;">5,052</div><div id="a19358" style="position:absolute;font-weight:normal;font-style:normal;left:19.467px;top:81.9px;">Currency translation adjustments </div><div id="a19360" style="position:absolute;font-weight:normal;font-style:normal;left:263.533px;top:81.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19362" style="position:absolute;left:317.613px;top:81.9px;">(731)</div><div id="a19366" style="position:absolute;left:402.76px;top:81.9px;">(3,925)</div><div id="a19370" style="position:absolute;left:507.72px;top:81.9px;">(956)</div><div id="a19374" style="position:absolute;left:590.8px;top:81.9px;">(3,078)</div><div id="a19376" style="position:absolute;font-weight:normal;font-style:normal;left:631.6px;top:81.9px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19379" style="position:absolute;left:683.76px;top:81.9px;">(8,690)</div><div id="a19381" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:99.8px;">Balance as of March 31,<div style="display:inline-block;width:7.4px"> </div>2021 </div><div id="a19384" style="position:absolute;font-weight:normal;font-style:normal;left:263.533px;top:99.8px;">$ </div><div id="a19386" style="position:absolute;left:300.173px;top:99.8px;">213,604</div><div id="a19389" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:99.8px;">$ </div><div id="a19391" style="position:absolute;left:395.24px;top:99.8px;">138,863</div><div id="a19394" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:99.8px;">$ </div><div id="a19396" style="position:absolute;left:490.28px;top:99.8px;">158,442</div><div id="a19399" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:99.8px;">$ </div><div id="a19401" style="position:absolute;left:583.28px;top:99.8px;">116,665</div><div id="a19403" style="position:absolute;font-weight:normal;font-style:normal;left:631.6px;top:99.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19405" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:99.8px;">$ </div><div id="a19407" style="position:absolute;left:676.24px;top:99.8px;">627,574</div></div><div id="TextBlockContainer152" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:31px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19409" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">Gross carrying amounts and accumulated amortization<div style="display:inline-block;width:4.73px"> </div>for definite-lived intangible assets as of March 31, 2021 and<div style="display:inline-block;width:4.76px"> </div>December 31, </div><div id="a19447" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">2020 were as follows:</div></div><div id="TextBlockContainer156" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:116px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_154_XBRL_TS_58cc4e7752f74e77946993da6a91dd27" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer155" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:116px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19457" style="position:absolute;font-weight:bold;font-style:normal;left:402.76px;top:0px;">Gross Carrying </div><div id="a19460" style="position:absolute;font-weight:bold;font-style:normal;left:596.72px;top:0px;">Accumulated </div><div id="a19464" style="position:absolute;font-weight:bold;font-style:normal;left:424.04px;top:14.9px;">Amount </div><div id="a19467" style="position:absolute;font-weight:bold;font-style:normal;left:596.4px;top:14.9px;">Amortization </div><div id="a19471" style="position:absolute;font-weight:bold;font-style:normal;left:386.573px;top:31px;">2021 </div><div id="a19474" style="position:absolute;font-weight:bold;font-style:normal;left:481.64px;top:31px;">2020 </div><div id="a19477" style="position:absolute;font-weight:bold;font-style:normal;left:574.64px;top:31px;">2021 </div><div id="a19480" style="position:absolute;font-weight:bold;font-style:normal;left:667.76px;top:31px;">2020 </div><div id="a19482" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:48.2px;">Customer lists and rights to sell </div><div id="a19484" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:48.2px;">$ </div><div id="a19486" style="position:absolute;left:395.24px;top:48.2px;">846,052</div><div id="a19488" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:48.2px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19490" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:48.2px;">$ </div><div id="a19492" style="position:absolute;left:490.28px;top:48.2px;">839,551</div><div id="a19494" style="position:absolute;font-weight:normal;font-style:normal;left:538.44px;top:48.2px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19496" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:48.2px;">$ </div><div id="a19498" style="position:absolute;left:583.28px;top:48.2px;">110,997</div><div id="a19500" style="position:absolute;font-weight:normal;font-style:normal;left:631.6px;top:48.2px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19502" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:48.2px;">$ </div><div id="a19504" style="position:absolute;left:682.96px;top:48.2px;">99,806</div><div id="a19506" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64.8px;">Trademarks, formulations and product<div style="display:inline-block;width:4.8px"> </div>technology </div><div id="a19508" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:64.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19510" style="position:absolute;left:395.24px;top:64.8px;">167,144</div><div id="a19512" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:64.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19514" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:64.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19516" style="position:absolute;left:490.28px;top:64.8px;">166,448</div><div id="a19518" style="position:absolute;font-weight:normal;font-style:normal;left:538.44px;top:64.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19520" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:64.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19522" style="position:absolute;left:590px;top:64.8px;">32,533</div><div id="a19524" style="position:absolute;font-weight:normal;font-style:normal;left:631.6px;top:64.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19526" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:64.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19528" style="position:absolute;left:682.96px;top:64.8px;">30,483</div><div id="a19530" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.8px;">Other </div><div id="a19532" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:81.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19534" style="position:absolute;left:408.52px;top:81.8px;">6,320</div><div id="a19536" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:81.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19538" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:81.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19540" style="position:absolute;left:503.56px;top:81.8px;">6,372</div><div id="a19542" style="position:absolute;font-weight:normal;font-style:normal;left:538.44px;top:81.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19544" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:81.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19546" style="position:absolute;left:596.56px;top:81.8px;">5,743</div><div id="a19548" style="position:absolute;font-weight:normal;font-style:normal;left:631.6px;top:81.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19550" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:81.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19552" style="position:absolute;left:689.52px;top:81.8px;">5,824</div><div id="a19554" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:99.7px;">Total definite<div style="display:inline-block;width:1.37px"> </div>-lived intangible assets </div><div id="a19558" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:99.7px;">$ </div><div id="a19560" style="position:absolute;left:385.293px;top:99.7px;">1,019,516</div><div id="a19562" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:99.7px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19564" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:99.7px;">$ </div><div id="a19566" style="position:absolute;left:480.36px;top:99.7px;">1,012,371</div><div id="a19568" style="position:absolute;font-weight:normal;font-style:normal;left:538.44px;top:99.7px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19570" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:99.7px;">$ </div><div id="a19572" style="position:absolute;left:583.28px;top:99.7px;">149,273</div><div id="a19574" style="position:absolute;font-weight:normal;font-style:normal;left:631.6px;top:99.7px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19576" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:99.7px;">$ </div><div id="a19578" style="position:absolute;left:676.24px;top:99.7px;">136,113</div></div></div></div><div id="TextBlockContainer158" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:714px;height:47px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19630" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The Company amortizes definite-lived intangible assets on<div style="display:inline-block;width:4.77px"> </div>a straight-line basis over their useful lives.<div style="display:inline-block;width:7.53px"> </div>The Company recorded </div><div id="a19670" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">$</div><div id="a19670_1_4" style="position:absolute;left:11.147px;top:15.4px;">14.8</div><div id="a19670_5_14" style="position:absolute;font-weight:normal;font-style:normal;left:34.507px;top:15.4px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a19670_19_4" style="position:absolute;left:108.933px;top:15.4px;">14.0</div><div id="a19670_23_100" style="position:absolute;font-weight:normal;font-style:normal;left:132.293px;top:15.4px;"><div style="display:inline-block;width:3.36px"> </div>million of amortization expense for the three months ended<div style="display:inline-block;width:4.81px"> </div>March 31, 2021 and 2020, respectively.<div style="display:inline-block;width:5.15px"> </div></div><div id="a19711" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Estimated annual aggregate amortization expense for<div style="display:inline-block;width:4.7px"> </div>the current year and subsequent five years is as follows:</div></div><div id="TextBlockContainer162" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:366px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_160_XBRL_TS_6f6041769ca24538b4f7f8cd03e9bb31" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer161" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:366px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19744" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0.8px;">For the year ended December 31, 2021 </div><div id="a19746" style="position:absolute;font-weight:normal;font-style:normal;left:275.533px;top:0.8px;">$ </div><div id="a19748" style="position:absolute;left:320.973px;top:0px;">59,372</div><div id="a19752" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:17.8px;">For the year ended December 31, 2022 </div><div id="a19755" style="position:absolute;left:320.973px;top:17px;">59,096</div><div id="a19759" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:34.7px;">For the year ended December 31, 2023 </div><div id="a19762" style="position:absolute;left:320.973px;top:33.9px;">58,927</div><div id="a19766" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51.8px;">For the year ended December 31, 2024 </div><div id="a19769" style="position:absolute;left:320.973px;top:50.9px;">58,427</div><div id="a19773" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68.8px;">For the year ended December 31, 2025 </div><div id="a19776" style="position:absolute;left:320.973px;top:68px;">57,710</div><div id="a19780" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:85.8px;">For the year ended December 31, 2026 </div><div id="a19783" style="position:absolute;left:320.973px;top:85px;">57,484</div></div></div></div><div id="TextBlockContainer166" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:439px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19786" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The Company has four indefinite-lived intangible<div style="display:inline-block;width:4.7px"> </div>assets totaling $</div><div id="a19786_66_5" style="position:absolute;left:381.933px;top:0px;">205.1</div><div id="a19786_71_52" style="position:absolute;font-weight:normal;font-style:normal;left:411.88px;top:0px;"><div style="display:inline-block;width:3.36px"> </div>million as of both March 31, 2021 and December 31, </div><div id="a19826" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">2020, including $</div><div id="a19826_17_5" style="position:absolute;left:98.213px;top:15.4px;">204.0</div><div id="a19826_22_109" style="position:absolute;font-weight:normal;font-style:normal;left:128.293px;top:15.4px;"><div style="display:inline-block;width:3.36px"> </div>million of indefinite-lived intangible assets for trademarks and<div style="display:inline-block;width:4.75px"> </div>tradename associated with the Combination. </div><div id="div_164_XBRL_TS_be95bbe869c74141af4f0d83d34e8547" style="position:absolute;left:0px;top:38.8px;float:left;"><div id="TextBlockContainer165" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:714px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19860" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">Goodwill and intangible assets that have indefinite lives are<div style="display:inline-block;width:4.67px"> </div>not amortized and are required to be assessed at least annually<div style="display:inline-block;width:4.87px"> </div>for </div><div id="a19902" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.2px;">impairment.<div style="display:inline-block;width:7.17px"> </div>The Company completes its annual goodwill and indefinite-lived<div style="display:inline-block;width:4.73px"> </div>intangible asset impairment test during the fourth </div><div id="a19936" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.6px;">quarter of each year.<div style="display:inline-block;width:7.96px"> </div>The Company continuously evaluates if triggering events indicate<div style="display:inline-block;width:4.81px"> </div>a possible impairment in one or more of its </div><div id="a19978" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">reporting units or indefinite-lived or long-lived assets.</div></div></div><div id="a19978_57_1" style="position:absolute;font-weight:normal;font-style:normal;left:292.973px;top:84.7px;"> </div><div id="a19996" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:108px;">The Company previously disclosed in its 2020 Form 10-K<div style="display:inline-block;width:4.78px"> </div>that as of March 31, 2020, the Company concluded that the<div style="display:inline-block;width:4.79px"> </div>impact of </div><div id="a20044" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:123.4px;">COVID-19 did not represent a triggering event with<div style="display:inline-block;width:4.64px"> </div>regards to the Company’s<div style="display:inline-block;width:4.73px"> </div>reporting units or indefinite-lived and long-lived assets, </div><div id="a20088" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:138.8px;">except for the Company’s<div style="display:inline-block;width:4.81px"> </div>Houghton and Fluidcare trademarks and tradename indefinite<div style="display:inline-block;width:1.34px"> </div>-lived intangible assets.<div style="display:inline-block;width:7.01px"> </div>The determination of </div><div id="a20124" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:154px;">estimated fair value of the Houghton and Fluidcare<div style="display:inline-block;width:4.7px"> </div>trademarks and tradename indefinite-lived assets was based on a relief<div style="display:inline-block;width:4.83px"> </div>from </div><div id="a20164" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:169.3px;">royalty valuation method,<div style="display:inline-block;width:4.16px"> </div>which requires management’s judgment<div style="display:inline-block;width:4.95px"> </div>and often involves the use of significant estimates and assumptions, </div><div id="a20199" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:184.7px;">including assumptions with respect to the weighted average<div style="display:inline-block;width:4.71px"> </div>cost of capital (“WACC”)<div style="display:inline-block;width:5.3px"> </div>and royalty rates, as well as revenue growth </div><div id="a20239" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:200px;">rates and terminal growth rates.<div style="display:inline-block;width:7.44px"> </div>In the first quarter of 2020, as a result of the impact of<div style="display:inline-block;width:4.7px"> </div>COVID-19 driving a decrease in projected </div><div id="a20289" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:215.4px;">legacy Houghton net sales during that year and the impact<div style="display:inline-block;width:4.68px"> </div>of the sales decline on projected future legacy Houghton<div style="display:inline-block;width:4.7px"> </div>net sales as well as </div><div id="a20337" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:230.6px;">an increase in the WACC<div style="display:inline-block;width:5.31px"> </div>assumption utilized in the quantitative impairment<div style="display:inline-block;width:4.84px"> </div>assessment, the Company concluded that the estimated </div><div id="a20373" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:246px;">fair values of the Houghton and Fluidcare trademarks<div style="display:inline-block;width:4.71px"> </div>and tradename intangible assets were less than their carrying values.<div style="display:inline-block;width:8.09px"> </div>As a </div><div id="a20414" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:261.3px;">result, an impairment charge of $</div><div id="a20414_33_4" style="position:absolute;left:181.573px;top:261.3px;">38.0</div><div id="a20414_37_94" style="position:absolute;font-weight:normal;font-style:normal;left:204.933px;top:261.3px;"><div style="display:inline-block;width:3.36px"> </div>million was recorded in the first quarter of 2020 to write down<div style="display:inline-block;width:4.74px"> </div>the carrying values of these </div><div id="a20461" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:276.7px;">intangible assets to their estimated fair values. </div><div id="a20475" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:300.1px;">As of March 31, 2021, the Company continued to evaluate<div style="display:inline-block;width:4.75px"> </div>the on-going impact of COVID-19 on the Company’s<div style="display:inline-block;width:5.29px"> </div>operations, and </div><div id="a20519" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:315.4px;">the volatility and uncertainty in the economic outlook as a result of<div style="display:inline-block;width:4.82px"> </div>COVID-19, to determine if this indicated it was more likely<div style="display:inline-block;width:4.72px"> </div>than </div><div id="a20567" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:330.6px;">not that the carrying value of any of the Company’s<div style="display:inline-block;width:5.42px"> </div>reporting units or indefinite-lived or long-lived intangible assets were<div style="display:inline-block;width:4.94px"> </div>not </div><div id="a20611" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:346px;">recoverable.<div style="display:inline-block;width:7.11px"> </div>The Company concluded that the impact of COVID-19 did not represent<div style="display:inline-block;width:4.87px"> </div>a triggering event as of March 31, 2021.<div style="display:inline-block;width:7.64px"> </div>While </div><div id="a20656" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:361.3px;">the Company concluded that the impact of COVID-19<div style="display:inline-block;width:4.74px"> </div>did not represent a triggering event as of March 31, 2021,<div style="display:inline-block;width:4.7px"> </div>the Company will </div><div id="a20702" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:376.7px;">continue to evaluate the impact of COVID-19 on the Company’s<div style="display:inline-block;width:5.67px"> </div>current and projected results.<div style="display:inline-block;width:7.17px"> </div>If the current economic conditions </div><div id="a20743" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:392.1px;">worsen or projections of the timeline for recovery are<div style="display:inline-block;width:4.78px"> </div>significantly extended, then the Company may conclude in the<div style="display:inline-block;width:4.75px"> </div>future that the </div><div id="a20785" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:407.4px;">impact from COVID-19 requires the need to perform<div style="display:inline-block;width:4.68px"> </div>further interim quantitative impairment tests, which could<div style="display:inline-block;width:4.7px"> </div>result in additional </div><div id="a20824" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:422.8px;">impairment charges in the future.</div></div> <div id="TextBlockContainer150" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:116px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_148_XBRL_TS_6ac2bc78a1bd475284994bf380a8c4d7" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer149" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:116px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19271" style="position:absolute;font-weight:bold;font-style:normal;left:568.68px;top:0px;">Global </div><div id="a19286" style="position:absolute;font-weight:bold;font-style:normal;left:562.12px;top:16.2px;">Specialty </div><div id="a19293" style="position:absolute;font-weight:bold;font-style:normal;left:278.093px;top:31.2px;">Americas </div><div id="a19296" style="position:absolute;font-weight:bold;font-style:normal;left:380.013px;top:31.2px;">EMEA </div><div id="a19299" style="position:absolute;font-weight:bold;font-style:normal;left:461.32px;top:31.2px;">Asia/Pacific </div><div id="a19302" style="position:absolute;font-weight:bold;font-style:normal;left:557.96px;top:31.2px;">Businesses </div><div id="a19305" style="position:absolute;font-weight:bold;font-style:normal;left:666px;top:31.2px;">Total </div><div id="a19307" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:47.8px;">Balance as of December 31, 2020 </div><div id="a19310" style="position:absolute;font-weight:normal;font-style:normal;left:263.533px;top:47.8px;">$ </div><div id="a19312" style="position:absolute;left:300.173px;top:47.8px;">213,242</div><div id="a19315" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:47.8px;">$ </div><div id="a19317" style="position:absolute;left:395.24px;top:47.8px;">140,162</div><div id="a19320" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:47.8px;">$ </div><div id="a19322" style="position:absolute;left:490.28px;top:47.8px;">158,090</div><div id="a19325" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:47.8px;">$ </div><div id="a19327" style="position:absolute;left:583.28px;top:47.8px;">119,718</div><div id="a19329" style="position:absolute;font-weight:normal;font-style:normal;left:631.6px;top:47.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19331" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:47.8px;">$ </div><div id="a19333" style="position:absolute;left:676.24px;top:47.8px;">631,212</div><div id="a19336" style="position:absolute;font-weight:normal;font-style:normal;left:19.467px;top:64.8px;">Goodwill additions </div><div id="a19339" style="position:absolute;left:312.493px;top:64.8px;">1,093</div><div id="a19343" style="position:absolute;left:407.56px;top:64.8px;">2,626</div><div id="a19347" style="position:absolute;left:502.6px;top:64.8px;">1,308</div><div id="a19351" style="position:absolute;left:612.4px;top:64.8px;">25</div><div id="a19355" style="position:absolute;left:688.56px;top:64.8px;">5,052</div><div id="a19358" style="position:absolute;font-weight:normal;font-style:normal;left:19.467px;top:81.9px;">Currency translation adjustments </div><div id="a19360" style="position:absolute;font-weight:normal;font-style:normal;left:263.533px;top:81.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19362" style="position:absolute;left:317.613px;top:81.9px;">(731)</div><div id="a19366" style="position:absolute;left:402.76px;top:81.9px;">(3,925)</div><div id="a19370" style="position:absolute;left:507.72px;top:81.9px;">(956)</div><div id="a19374" style="position:absolute;left:590.8px;top:81.9px;">(3,078)</div><div id="a19376" style="position:absolute;font-weight:normal;font-style:normal;left:631.6px;top:81.9px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19379" style="position:absolute;left:683.76px;top:81.9px;">(8,690)</div><div id="a19381" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:99.8px;">Balance as of March 31,<div style="display:inline-block;width:7.4px"> </div>2021 </div><div id="a19384" style="position:absolute;font-weight:normal;font-style:normal;left:263.533px;top:99.8px;">$ </div><div id="a19386" style="position:absolute;left:300.173px;top:99.8px;">213,604</div><div id="a19389" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:99.8px;">$ </div><div id="a19391" style="position:absolute;left:395.24px;top:99.8px;">138,863</div><div id="a19394" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:99.8px;">$ </div><div id="a19396" style="position:absolute;left:490.28px;top:99.8px;">158,442</div><div id="a19399" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:99.8px;">$ </div><div id="a19401" style="position:absolute;left:583.28px;top:99.8px;">116,665</div><div id="a19403" style="position:absolute;font-weight:normal;font-style:normal;left:631.6px;top:99.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19405" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:99.8px;">$ </div><div id="a19407" style="position:absolute;left:676.24px;top:99.8px;">627,574</div></div></div></div> 213242000 140162000 158090000 119718000 631212000 1093000 2626000 1308000 25000 5052000 -731000 -3925000 -956000 -3078000 -8690000 213604000 138863000 158442000 116665000 627574000 <div id="TextBlockContainer155" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:116px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19457" style="position:absolute;font-weight:bold;font-style:normal;left:402.76px;top:0px;">Gross Carrying </div><div id="a19460" style="position:absolute;font-weight:bold;font-style:normal;left:596.72px;top:0px;">Accumulated </div><div id="a19464" style="position:absolute;font-weight:bold;font-style:normal;left:424.04px;top:14.9px;">Amount </div><div id="a19467" style="position:absolute;font-weight:bold;font-style:normal;left:596.4px;top:14.9px;">Amortization </div><div id="a19471" style="position:absolute;font-weight:bold;font-style:normal;left:386.573px;top:31px;">2021 </div><div id="a19474" style="position:absolute;font-weight:bold;font-style:normal;left:481.64px;top:31px;">2020 </div><div id="a19477" style="position:absolute;font-weight:bold;font-style:normal;left:574.64px;top:31px;">2021 </div><div id="a19480" style="position:absolute;font-weight:bold;font-style:normal;left:667.76px;top:31px;">2020 </div><div id="a19482" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:48.2px;">Customer lists and rights to sell </div><div id="a19484" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:48.2px;">$ </div><div id="a19486" style="position:absolute;left:395.24px;top:48.2px;">846,052</div><div id="a19488" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:48.2px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19490" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:48.2px;">$ </div><div id="a19492" style="position:absolute;left:490.28px;top:48.2px;">839,551</div><div id="a19494" style="position:absolute;font-weight:normal;font-style:normal;left:538.44px;top:48.2px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19496" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:48.2px;">$ </div><div id="a19498" style="position:absolute;left:583.28px;top:48.2px;">110,997</div><div id="a19500" style="position:absolute;font-weight:normal;font-style:normal;left:631.6px;top:48.2px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19502" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:48.2px;">$ </div><div id="a19504" style="position:absolute;left:682.96px;top:48.2px;">99,806</div><div id="a19506" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64.8px;">Trademarks, formulations and product<div style="display:inline-block;width:4.8px"> </div>technology </div><div id="a19508" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:64.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19510" style="position:absolute;left:395.24px;top:64.8px;">167,144</div><div id="a19512" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:64.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19514" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:64.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19516" style="position:absolute;left:490.28px;top:64.8px;">166,448</div><div id="a19518" style="position:absolute;font-weight:normal;font-style:normal;left:538.44px;top:64.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19520" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:64.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19522" style="position:absolute;left:590px;top:64.8px;">32,533</div><div id="a19524" style="position:absolute;font-weight:normal;font-style:normal;left:631.6px;top:64.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19526" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:64.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19528" style="position:absolute;left:682.96px;top:64.8px;">30,483</div><div id="a19530" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.8px;">Other </div><div id="a19532" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:81.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19534" style="position:absolute;left:408.52px;top:81.8px;">6,320</div><div id="a19536" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:81.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19538" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:81.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19540" style="position:absolute;left:503.56px;top:81.8px;">6,372</div><div id="a19542" style="position:absolute;font-weight:normal;font-style:normal;left:538.44px;top:81.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19544" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:81.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19546" style="position:absolute;left:596.56px;top:81.8px;">5,743</div><div id="a19548" style="position:absolute;font-weight:normal;font-style:normal;left:631.6px;top:81.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19550" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:81.8px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a19552" style="position:absolute;left:689.52px;top:81.8px;">5,824</div><div id="a19554" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:99.7px;">Total definite<div style="display:inline-block;width:1.37px"> </div>-lived intangible assets </div><div id="a19558" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:99.7px;">$ </div><div id="a19560" style="position:absolute;left:385.293px;top:99.7px;">1,019,516</div><div id="a19562" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:99.7px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19564" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:99.7px;">$ </div><div id="a19566" style="position:absolute;left:480.36px;top:99.7px;">1,012,371</div><div id="a19568" style="position:absolute;font-weight:normal;font-style:normal;left:538.44px;top:99.7px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19570" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:99.7px;">$ </div><div id="a19572" style="position:absolute;left:583.28px;top:99.7px;">149,273</div><div id="a19574" style="position:absolute;font-weight:normal;font-style:normal;left:631.6px;top:99.7px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a19576" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:99.7px;">$ </div><div id="a19578" style="position:absolute;left:676.24px;top:99.7px;">136,113</div></div> 846052000 839551000 110997000 99806000 167144000 166448000 32533000 30483000 6320000 6372000 5743000 5824000 1019516000 1012371000 149273000 136113000 14800000 14000000.0 <div id="TextBlockContainer161" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:366px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19744" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0.8px;">For the year ended December 31, 2021 </div><div id="a19746" style="position:absolute;font-weight:normal;font-style:normal;left:275.533px;top:0.8px;">$ </div><div id="a19748" style="position:absolute;left:320.973px;top:0px;">59,372</div><div id="a19752" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:17.8px;">For the year ended December 31, 2022 </div><div id="a19755" style="position:absolute;left:320.973px;top:17px;">59,096</div><div id="a19759" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:34.7px;">For the year ended December 31, 2023 </div><div id="a19762" style="position:absolute;left:320.973px;top:33.9px;">58,927</div><div id="a19766" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51.8px;">For the year ended December 31, 2024 </div><div id="a19769" style="position:absolute;left:320.973px;top:50.9px;">58,427</div><div id="a19773" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68.8px;">For the year ended December 31, 2025 </div><div id="a19776" style="position:absolute;left:320.973px;top:68px;">57,710</div><div id="a19780" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:85.8px;">For the year ended December 31, 2026 </div><div id="a19783" style="position:absolute;left:320.973px;top:85px;">57,484</div></div> 59372000 59096000 58927000 58427000 57710000 57484000 205100000 205100000 204000000.0 204000000.0 <div id="TextBlockContainer165" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:714px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19860" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">Goodwill and intangible assets that have indefinite lives are<div style="display:inline-block;width:4.67px"> </div>not amortized and are required to be assessed at least annually<div style="display:inline-block;width:4.87px"> </div>for </div><div id="a19902" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.2px;">impairment.<div style="display:inline-block;width:7.17px"> </div>The Company completes its annual goodwill and indefinite-lived<div style="display:inline-block;width:4.73px"> </div>intangible asset impairment test during the fourth </div><div id="a19936" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.6px;">quarter of each year.<div style="display:inline-block;width:7.96px"> </div>The Company continuously evaluates if triggering events indicate<div style="display:inline-block;width:4.81px"> </div>a possible impairment in one or more of its </div><div id="a19978" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">reporting units or indefinite-lived or long-lived assets.</div></div> 38000000.0 <div id="TextBlockContainer168" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:437px;height:39px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a20886" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 15 – Debt </div><div id="a20894" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">Debt as of March 31, 2021 and December 31, 2020 includes<div style="display:inline-block;width:4.76px"> </div>the following:</div></div><div id="TextBlockContainer171" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:674px;height:223px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a20925" style="position:absolute;font-weight:bold;font-style:normal;left:334.093px;top:0px;">As of March 31, 2021 </div><div id="a20928" style="position:absolute;font-weight:bold;font-style:normal;left:511.56px;top:0px;">As of December 31, 2020 </div><div id="a20934" style="position:absolute;font-weight:bold;font-style:normal;left:313.933px;top:17.1px;">Interest </div><div id="a20937" style="position:absolute;font-weight:bold;font-style:normal;left:396.68px;top:17.1px;">Outstanding<div style="display:inline-block;width:3.55px"> </div></div><div id="a20940" style="position:absolute;font-weight:bold;font-style:normal;left:505.96px;top:17.1px;">Interest </div><div id="a20942" style="position:absolute;font-weight:bold;font-style:normal;left:578.64px;top:17.1px;">Outstanding<div style="display:inline-block;width:3.55px"> </div></div><div id="a20948" style="position:absolute;font-weight:bold;font-style:normal;left:322.893px;top:31.5px;">Rate </div><div id="a20951" style="position:absolute;font-weight:bold;font-style:normal;left:409.64px;top:31.5px;">Balance </div><div id="a20954" style="position:absolute;font-weight:bold;font-style:normal;left:514.92px;top:31.5px;">Rate </div><div id="a20956" style="position:absolute;font-weight:bold;font-style:normal;left:591.6px;top:31.5px;">Balance </div><div id="a20960" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:48px;">Credit Facilities: </div><div id="a20975" style="position:absolute;font-weight:normal;font-style:normal;left:14.379px;top:65.8px;">Revolver </div><div id="a20978" style="position:absolute;left:324.013px;top:65.8px;display:flex;">1.61%</div><div id="a20981" style="position:absolute;font-weight:normal;font-style:normal;left:381.48px;top:65.8px;">$ </div><div id="a20983" style="position:absolute;left:435.72px;top:65.8px;">190,000</div><div id="a20986" style="position:absolute;left:505.96px;top:65.8px;display:flex;">1.65%</div><div id="a20989" style="position:absolute;font-weight:normal;font-style:normal;left:563.44px;top:65.8px;">$ </div><div id="a20991" style="position:absolute;left:618.8px;top:65.8px;">160,000</div><div id="a20996" style="position:absolute;font-weight:normal;font-style:normal;left:14.379px;top:83.4px;">U.S. Term Loan </div><div id="a20999" style="position:absolute;left:324.013px;top:83.4px;display:flex;">1.61%</div><div id="a21003" style="position:absolute;left:435.72px;top:83.4px;">562,500</div><div id="a21006" style="position:absolute;left:505.96px;top:83.4px;display:flex;">1.65%</div><div id="a21010" style="position:absolute;left:617.68px;top:83.4px;">570,000</div><div id="a21015" style="position:absolute;font-weight:normal;font-style:normal;left:14.379px;top:101px;">EURO Term Loan </div><div id="a21018" style="position:absolute;left:324.013px;top:101px;display:flex;">1.50%</div><div id="a21022" style="position:absolute;left:435.72px;top:101px;">148,210</div><div id="a21025" style="position:absolute;left:505.96px;top:101px;display:flex;">1.50%</div><div id="a21029" style="position:absolute;left:617.68px;top:101px;">157,062</div><div id="a21033" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:117.4px;">Industrial development bonds </div><div id="a21036" style="position:absolute;left:324.013px;top:118.6px;display:flex;">5.26%</div><div id="a21040" style="position:absolute;left:442.44px;top:118.6px;">10,000</div><div id="a21043" style="position:absolute;left:505.96px;top:118.6px;display:flex;">5.26%</div><div id="a21047" style="position:absolute;left:624.4px;top:118.6px;">10,000</div><div id="a21051" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:135px;">Bank lines of credit and other debt obligations </div><div id="a21054" style="position:absolute;font-weight:normal;font-style:normal;left:320.173px;top:136.2px;">Various </div><div id="a21058" style="position:absolute;left:449px;top:136.2px;">2,377</div><div id="a21061" style="position:absolute;font-weight:normal;font-style:normal;left:502.12px;top:136.2px;">Various </div><div id="a21065" style="position:absolute;left:630.96px;top:136.2px;">2,072</div><div id="a21069" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153px;">Total debt </div><div id="a21074" style="position:absolute;font-weight:normal;font-style:normal;left:381.48px;top:153.8px;">$ </div><div id="a21076" style="position:absolute;left:435.72px;top:153.8px;">913,087</div><div id="a21081" style="position:absolute;font-weight:normal;font-style:normal;left:563.44px;top:153.8px;">$ </div><div id="a21083" style="position:absolute;left:617.68px;top:153.8px;">899,134</div><div id="a21087" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:170.3px;">Less: debt issuance costs </div><div id="a21093" style="position:absolute;left:437.48px;top:171.4px;">(10,324)</div><div id="a21099" style="position:absolute;left:619.44px;top:171.4px;">(11,099)</div><div id="a21103" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:187.9px;">Less: short-term and current portion of long-term debts </div><div id="a21113" style="position:absolute;left:437.48px;top:189px;">(43,330)</div><div id="a21119" style="position:absolute;left:619.44px;top:189px;">(38,967)</div><div id="a21123" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:206.3px;">Total long<div style="display:inline-block;width:1.36px"> </div>-term debt </div><div id="a21130" style="position:absolute;font-weight:normal;font-style:normal;left:381.48px;top:207.4px;">$ </div><div id="a21132" style="position:absolute;left:436.84px;top:207.4px;">859,433</div><div id="a21137" style="position:absolute;font-weight:normal;font-style:normal;left:563.44px;top:207.4px;">$ </div><div id="a21139" style="position:absolute;left:618.8px;top:207.4px;">849,068</div></div><div id="TextBlockContainer174" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:577px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21142" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Credit facilities </div><div id="a21146" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">The Company’s primary<div style="display:inline-block;width:4.76px"> </div>credit facility (as amended, the “Credit Facility”) is comprised<div style="display:inline-block;width:4.71px"> </div>of a $</div><div id="a21146_93_5" style="position:absolute;left:529.639px;top:23.4px;">400.0</div><div id="a21146_98_23" style="position:absolute;font-weight:normal;font-style:normal;left:559.719px;top:23.4px;"><div style="display:inline-block;width:3.36px"> </div>million multicurrency </div><div id="a21180" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.6px;">revolver (the “Revolver”), a $</div><div id="a21180_30_5" style="position:absolute;left:163.973px;top:38.6px;">600.0</div><div id="a21180_35_85" style="position:absolute;font-weight:normal;font-style:normal;left:194.053px;top:38.6px;"><div style="display:inline-block;width:3.36px"> </div>million term loan (the “U.S. Term<div style="display:inline-block;width:5px"> </div>Loan”), each with the Company as borrower,<div style="display:inline-block;width:5.06px"> </div>and a $</div><div id="a21180_120_5" style="position:absolute;left:665.199px;top:38.6px;">150.0</div><div id="a21180_125_1" style="position:absolute;font-weight:normal;font-style:normal;left:695.279px;top:38.6px;"> </div><div id="a21222" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.9px;">million (as of August 1, 2019) Euro equivalent term loan (the<div style="display:inline-block;width:4.71px"> </div>“EURO Term Loan”<div style="display:inline-block;width:4.89px"> </div>and together with the “U.S. Term<div style="display:inline-block;width:5.02px"> </div>Loan”, the </div><div id="a21266" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">“Term Loans”)<div style="display:inline-block;width:4.86px"> </div>with Quaker Chemical B.V.,<div style="display:inline-block;width:5.48px"> </div>a Dutch subsidiary of the Company as borrower,<div style="display:inline-block;width:4.96px"> </div>each with a five-year term maturing in </div><div id="a21310" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">August 2024.<div style="display:inline-block;width:7.18px"> </div>Subject to the consent of the administrative agent and certain<div style="display:inline-block;width:4.71px"> </div>other conditions, the Company may designate additional </div><div id="a21349" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">borrowers.<div style="display:inline-block;width:7.03px"> </div>The maximum amount available under the Credit Facility can be<div style="display:inline-block;width:4.73px"> </div>increased by up to $</div><div id="a21349_94_5" style="position:absolute;left:524.04px;top:100px;">300.0</div><div id="a21349_99_26" style="position:absolute;font-weight:normal;font-style:normal;left:554.12px;top:100px;"><div style="display:inline-block;width:3.36px"> </div>million at the Company’s </div><div id="a21389" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">request if there are lenders who agree to accept additional<div style="display:inline-block;width:4.87px"> </div>commitments and the Company has satisfied certain other<div style="display:inline-block;width:4.76px"> </div>conditions.<div style="display:inline-block;width:3.43px"> </div></div><div id="a21428" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.6px;">Borrowings under the Credit Facility bear interest at a base<div style="display:inline-block;width:4.8px"> </div>rate or LIBOR plus an applicable margin based upon<div style="display:inline-block;width:4.89px"> </div>the Company’s </div><div id="a21470" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:145.9px;">consolidated net leverage ratio.<div style="display:inline-block;width:7.38px"> </div>There are LIBOR replacement provisions that contemplate a further<div style="display:inline-block;width:4.88px"> </div>amendment if and when LIBOR </div><div id="a21506" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:161.3px;">ceases to be reported.<div style="display:inline-block;width:7.33px"> </div>The variable interest rate incurred on the outstanding borrowings under<div style="display:inline-block;width:4.86px"> </div>the Credit Facility as of and during the </div><div id="a21550" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:176.7px;">three months ended March 31, 2021 was approximately </div><div id="a21550_52_3" style="position:absolute;left:304.973px;top:176.7px;">1.6</div><div id="a21550_55_77" style="position:absolute;font-weight:normal;font-style:normal;left:321.453px;top:176.7px;">%.<div style="display:inline-block;width:6.74px"> </div>In addition to paying interest on outstanding principal under<div style="display:inline-block;width:4.83px"> </div>the Credit </div><div id="a21590" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:192px;">Facility, the Company<div style="display:inline-block;width:4.89px"> </div>is required to pay a commitment fee ranging from </div><div id="a21590_71_3" style="position:absolute;left:396.04px;top:192px;">0.2</div><div id="a21590_74_5" style="position:absolute;font-weight:normal;font-style:normal;left:412.84px;top:192px;">% to </div><div id="a21590_79_3" style="position:absolute;left:440.84px;top:192px;">0.3</div><div id="a21590_82_46" style="position:absolute;font-weight:normal;font-style:normal;left:457.64px;top:192px;">% depending on the Company’s<div style="display:inline-block;width:4.78px"> </div>consolidated net </div><div id="a21632" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:207.2px;">leverage ratio to the lenders under the Revolver in<div style="display:inline-block;width:4.55px"> </div>respect of the unutilized commitments thereunder.<div style="display:inline-block;width:7.92px"> </div>The Company has unused </div><div id="a21671" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:222.6px;">capacity under the Revolver of approximately $</div><div id="a21671_46_3" style="position:absolute;left:259.373px;top:222.6px;">204</div><div id="a21671_49_58" style="position:absolute;font-weight:normal;font-style:normal;left:279.373px;top:222.6px;"><div style="display:inline-block;width:3.36px"> </div>million, net of bank letters of credit of approximately $</div><div id="a21671_107_1" style="position:absolute;left:576.88px;top:222.6px;">6</div><div id="a21671_108_26" style="position:absolute;font-weight:normal;font-style:normal;left:583.44px;top:222.6px;"><div style="display:inline-block;width:3.36px"> </div>million, as of March 31, </div><div id="a21716" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:237.9px;">2021.<div style="display:inline-block;width:6.79px"> </div></div><div id="a21719" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:261.3px;">The Credit Facility is subject to certain financial and<div style="display:inline-block;width:4.54px"> </div>other covenants.<div style="display:inline-block;width:7.24px"> </div></div><div id="a21719_74_47" style="position:absolute;left:406.759px;top:261.3px;">The Company’s initial consolidated net debt to </div><div id="a21755" style="position:absolute;left:4.427px;top:276.7px;">consolidated adjusted EBITDA ratio could not exceed 4.25 to 1, with step downs in the permitted ratio over the term of the Credit </div><div id="a21801" style="position:absolute;left:4.427px;top:292px;">Facility. As of March 31, 2021, the consolidated net debt to adjusted EBITDA may not exceed 4.00 to 1. The Company’s </div><div id="a21844" style="position:absolute;left:4.427px;top:307.2px;">consolidated adjusted EBITDA to interest expense ratio cannot be less than 3.0 to 1 over the term of the agreement. The Credit </div><div id="a21889" style="position:absolute;left:4.427px;top:322.6px;">Facility also prohibits the payment of cash dividends if the Company is in default or if the amount of the dividend paid annually </div><div id="a21935" style="position:absolute;left:4.427px;top:337.9px;">exceeds the greater of $50.0 million and 20% of consolidated adjusted EBITDA unless the ratio of consolidated net debt to </div><div id="a21976" style="position:absolute;left:4.427px;top:353.3px;">consolidated adjusted EBITDA is less than 2.0 to 1, in which case there is no such limitation on amount.</div><div id="a21976_104_2" style="position:absolute;font-weight:normal;font-style:normal;left:561.96px;top:353.3px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a21976_106_25" style="position:absolute;left:568.68px;top:353.3px;">As of March 31, 2021 and </div><div id="a22026" style="position:absolute;left:4.427px;top:368.7px;">December 31, 2020, the Company was in compliance with all of the Credit Facility covenants</div><div id="a22026_90_33" style="position:absolute;font-weight:normal;font-style:normal;left:504.999px;top:368.7px;">.<div style="display:inline-block;width:6.76px"> </div>The Term Loans<div style="display:inline-block;width:4.79px"> </div>have quarterly </div><div id="a22067" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:384.1px;">principal amortization during their five-year terms,<div style="display:inline-block;width:4.76px"> </div>with </div><div id="a22067_58_3" style="position:absolute;left:306.733px;top:384.1px;">5.0</div><div id="a22067_61_62" style="position:absolute;font-weight:normal;font-style:normal;left:323.373px;top:384.1px;">% amortization of the principal balance due in years<div style="display:inline-block;width:4.54px"> </div>1 and 2, </div><div id="a22067_123_3" style="position:absolute;left:651.119px;top:384.1px;">7.5</div><div id="a22067_126_10" style="position:absolute;font-weight:normal;font-style:normal;left:667.919px;top:384.1px;">% in year </div><div id="a22113" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:399.3px;">3, and </div><div id="a22113_7_4" style="position:absolute;left:40.459px;top:399.3px;">10.0</div><div id="a22113_11_120" style="position:absolute;font-weight:normal;font-style:normal;left:63.818px;top:399.3px;">% in years 4 and 5, with the remaining principal amount due at<div style="display:inline-block;width:4.77px"> </div>maturity.<div style="display:inline-block;width:7.75px"> </div>During the three months ended March 31, 2021, </div><div id="a22161" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:414.6px;">the Company made quarterly amortization payments<div style="display:inline-block;width:4.74px"> </div>related to the Term Loans<div style="display:inline-block;width:4.9px"> </div>totaling $</div><div id="a22161_85_3" style="position:absolute;left:480.2px;top:414.6px;">9.6</div><div id="a22161_88_45" style="position:absolute;font-weight:normal;font-style:normal;left:496.84px;top:414.6px;"><div style="display:inline-block;width:3.36px"> </div>million.<div style="display:inline-block;width:6.95px"> </div>The Credit Facility is guaranteed </div><div id="a22202" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:430px;">by certain of the Company’s<div style="display:inline-block;width:4.76px"> </div>domestic subsidiaries and is secured by first priority liens on substantially<div style="display:inline-block;width:4.91px"> </div>all of the assets of the </div><div id="a22246" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:445.3px;">Company and the domestic subsidiary guarantors,<div style="display:inline-block;width:4.76px"> </div>subject to certain customary exclusions.<div style="display:inline-block;width:7.33px"> </div>The obligations of the Dutch borrower are </div><div id="a22283" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:460.7px;">guaranteed only by certain foreign subsidiaries on an unsecured<div style="display:inline-block;width:4.9px"> </div>basis. </div><div id="a22303" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:484.1px;">The Credit Facility required the Company to fix its variable<div style="display:inline-block;width:4.87px"> </div>interest rates on at least 20% of its total Term<div style="display:inline-block;width:5.2px"> </div>Loans.<div style="display:inline-block;width:6.95px"> </div>In order to </div><div id="a22351" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:499.3px;">satisfy this requirement as well as to manage the<div style="display:inline-block;width:4.74px"> </div>Company’s exposure to variable<div style="display:inline-block;width:4.69px"> </div>interest rate risk associated with the Credit Facility, </div><div id="a22393" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:514.6px;">in November 2019, the Company entered into $</div><div id="a22393_44_5" style="position:absolute;left:259.373px;top:514.6px;">170.0</div><div id="a22393_49_78" style="position:absolute;font-weight:normal;font-style:normal;left:289.453px;top:514.6px;"><div style="display:inline-block;width:3.36px"> </div>million notional amounts of three-year interest rate swaps at a base<div style="display:inline-block;width:4.73px"> </div>rate of </div><div id="a22438" style="position:absolute;left:4.427px;top:530px;">1.64</div><div id="a22438_4_128" style="position:absolute;font-weight:normal;font-style:normal;left:27.946px;top:530px;">% plus an applicable margin as provided in the Credit<div style="display:inline-block;width:4.74px"> </div>Facility, based on the Company’s<div style="display:inline-block;width:5.4px"> </div>consolidated net leverage ratio.<div style="display:inline-block;width:7.55px"> </div>At the </div><div id="a22480" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:545.3px;">time the Company entered into the swaps, and as<div style="display:inline-block;width:4.7px"> </div>of March 31, 2021, the aggregate interest rate on the swaps,<div style="display:inline-block;width:4.8px"> </div>including the fixed base </div><div id="a22529" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:560.7px;">rate plus an applicable margin, was </div><div id="a22529_36_3" style="position:absolute;left:195.813px;top:560.7px;">3.1</div><div id="a22529_39_73" style="position:absolute;font-weight:normal;font-style:normal;left:212.613px;top:560.7px;">%.<div style="display:inline-block;width:6.78px"> </div>See Note 18 of Notes to Condensed Consolidated Financial Statements. </div></div><div id="TextBlockContainer176" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:734px;height:123px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22613" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The Company capitalized $</div><div id="a22613_25_4" style="position:absolute;left:175.493px;top:0px;">23.7</div><div id="a22613_29_103" style="position:absolute;font-weight:normal;font-style:normal;left:198.853px;top:0px;"><div style="display:inline-block;width:3.36px"> </div>million of certain third-party debt issuance costs in connection<div style="display:inline-block;width:4.8px"> </div>with executing the Credit Facility.<div style="display:inline-block;width:4.84px"> </div></div><div id="a22652" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">Approximately $</div><div id="a22652_15_4" style="position:absolute;left:95.339px;top:15.4px;">15.5</div><div id="a22652_19_111" style="position:absolute;font-weight:normal;font-style:normal;left:118.693px;top:15.4px;"><div style="display:inline-block;width:3.36px"> </div>million of the capitalized costs were attributed to the Term<div style="display:inline-block;width:5.55px"> </div>Loans and recorded as a direct reduction of long-</div><div id="a22694" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">term debt on the Company’s<div style="display:inline-block;width:4.74px"> </div>Condensed Consolidated Balance Sheet.<div style="display:inline-block;width:7.79px"> </div>Approximately $</div><div id="a22694_81_3" style="position:absolute;left:472.84px;top:30.7px;">8.3</div><div id="a22694_84_39" style="position:absolute;font-weight:normal;font-style:normal;left:489.48px;top:30.7px;"><div style="display:inline-block;width:3.36px"> </div>million of the capitalized costs were </div><div id="a22729" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">attributed to the Revolver and recorded within other assets on<div style="display:inline-block;width:4.8px"> </div>the Company’s Condensed Consolidated<div style="display:inline-block;width:4.89px"> </div>Balance Sheet.<div style="display:inline-block;width:7.05px"> </div>These </div><div id="a22763" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">capitalized costs are being amortized into interest expense<div style="display:inline-block;width:4.87px"> </div>over the five-year term of the Credit Facility.<div style="display:inline-block;width:8.56px"> </div>As of March 31, 2021 and </div><div id="a22811" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.6px;">December 31, 2020, the Company had $</div><div id="a22811_36_4" style="position:absolute;left:220.133px;top:76.6px;">10.3</div><div id="a22811_40_14" style="position:absolute;font-weight:normal;font-style:normal;left:243.533px;top:76.6px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a22811_54_4" style="position:absolute;left:317.933px;top:76.6px;">11.1</div><div id="a22811_58_74" style="position:absolute;font-weight:normal;font-style:normal;left:341.133px;top:76.6px;"><div style="display:inline-block;width:3.36px"> </div>million, respectively,<div style="display:inline-block;width:4.72px"> </div>of debt issuance costs recorded as a reduction of </div><div id="a22853" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:92px;">long-term debt.<div style="display:inline-block;width:7.11px"> </div>As of March 31, 2021 and December 31, 2020, the Company<div style="display:inline-block;width:4.91px"> </div>had $</div><div id="a22853_78_3" style="position:absolute;left:452.519px;top:92px;">5.5</div><div id="a22853_81_14" style="position:absolute;font-weight:normal;font-style:normal;left:469.159px;top:92px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a22853_95_3" style="position:absolute;left:543.559px;top:92px;">5.9</div><div id="a22853_98_32" style="position:absolute;font-weight:normal;font-style:normal;left:560.359px;top:92px;"><div style="display:inline-block;width:3.2px"> </div>million, respectively,<div style="display:inline-block;width:4.74px"> </div>of debt </div><div id="a22900" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:107.4px;">issuance costs recorded within other assets.</div></div><div id="TextBlockContainer178" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:240px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22914" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Industrial development bonds </div><div id="a22921" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.2px;">As of March 31, 2021 and December 31, 2020,<div style="display:inline-block;width:4.53px"> </div>the Company had fixed rate, industrial development authority<div style="display:inline-block;width:4.58px"> </div>bonds totaling </div><div id="a22960" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.6px;">$</div><div id="a22960_1_4" style="position:absolute;left:11.147px;top:38.6px;">10.0</div><div id="a22960_5_36" style="position:absolute;font-weight:normal;font-style:normal;left:34.507px;top:38.6px;"><div style="display:inline-block;width:3.36px"> </div>million in principal amount due in </div><div id="a22960_41_4" style="position:absolute;left:223.853px;top:38.6px;">2028</div><div id="a22960_45_74" style="position:absolute;font-weight:normal;font-style:normal;left:250.573px;top:38.6px;">.<div style="display:inline-block;width:6.6px"> </div>These bonds have similar covenants to the Credit Facility noted<div style="display:inline-block;width:4.75px"> </div>above. </div><div id="a23000" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:61.9px;">Bank lines of credit and other<div style="display:inline-block;width:4.53px"> </div>debt obligations</div><div id="a23015" style="position:absolute;font-size:16px;font-weight:normal;font-style:normal;left:252.973px;top:59.4px;"> </div><div id="a23016" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:85.3px;">The Company has certain unsecured bank lines of credit<div style="display:inline-block;width:4.89px"> </div>and discounting facilities in certain foreign subsidiaries, which are<div style="display:inline-block;width:4.75px"> </div>not </div><div id="a23056" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100.7px;">collateralized.<div style="display:inline-block;width:7.12px"> </div>The Company’s other debt<div style="display:inline-block;width:4.7px"> </div>obligations primarily consist of certain domestic and foreign<div style="display:inline-block;width:4.88px"> </div>low interest rate or interest-</div><div id="a23094" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:116px;">free municipality-related loans, local credit facilities of<div style="display:inline-block;width:4.79px"> </div>certain foreign subsidiaries and capital lease obligations.<div style="display:inline-block;width:7.84px"> </div>Total unused </div><div id="a23129" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:131.4px;">capacity under these arrangements as of March 31,<div style="display:inline-block;width:4.71px"> </div>2021 was approximately $</div><div id="a23129_74_2" style="position:absolute;left:420.04px;top:131.4px;">40</div><div id="a23129_76_9" style="position:absolute;font-weight:normal;font-style:normal;left:433.48px;top:131.4px;"><div style="display:inline-block;width:3.36px"> </div>million.</div><div id="a23157" style="position:absolute;font-size:16px;font-weight:normal;font-style:normal;left:478.44px;top:128.9px;"> </div><div id="a23158" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:154.6px;">In addition to the bank letters of credit described in<div style="display:inline-block;width:4.76px"> </div>the “Credit facilities” subsection above, the Company’s<div style="display:inline-block;width:5.24px"> </div>only other off-balance </div><div id="a23200" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:170px;">sheet arrangements include certain financial and other<div style="display:inline-block;width:4.72px"> </div>guarantees.<div style="display:inline-block;width:6.78px"> </div>The Company’s total bank<div style="display:inline-block;width:4.78px"> </div>letters of credit and guarantees </div><div id="a23235" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:185.3px;">outstanding as of March 31, 2021 were approximately<div style="display:inline-block;width:4.57px"> </div>$</div><div id="a23235_53_1" style="position:absolute;left:303.373px;top:185.3px;">9</div><div id="a23235_54_10" style="position:absolute;font-weight:normal;font-style:normal;left:310.093px;top:185.3px;"><div style="display:inline-block;width:3.36px"> </div>million. </div><div id="a23257" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:208.7px;">The Company incurred the following debt related expenses<div style="display:inline-block;width:4.7px"> </div>included within Interest expense, net, in the Condensed<div style="display:inline-block;width:4.86px"> </div>Consolidated </div><div id="a23291" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:224px;">Statements of Operations:</div></div><div id="TextBlockContainer181" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:658px;height:105px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23300" style="position:absolute;font-weight:bold;font-style:normal;left:502.76px;top:0px;">Three Months Ended </div><div id="a23305" style="position:absolute;font-weight:bold;font-style:normal;left:534.12px;top:17.6px;">March 31,<div style="display:inline-block;width:3.93px"> </div></div><div id="a23310" style="position:absolute;font-weight:bold;font-style:normal;left:502.6px;top:35.2px;">2021 </div><div id="a23313" style="position:absolute;font-weight:bold;font-style:normal;left:597.68px;top:35.2px;">2020 </div><div id="a23317" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:52.8px;">Interest expense </div><div id="a23320" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:52.8px;">$ </div><div id="a23322" style="position:absolute;left:523.56px;top:52.8px;">4,650</div><div id="a23325" style="position:absolute;font-weight:normal;font-style:normal;left:569.52px;top:52.8px;">$ </div><div id="a23327" style="position:absolute;left:618.64px;top:52.8px;">7,712</div><div id="a23331" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:70.4px;">Amortization of debt issuance costs </div><div id="a23334" style="position:absolute;left:523.56px;top:70.4px;">1,187</div><div id="a23338" style="position:absolute;left:618.64px;top:70.4px;">1,187</div><div id="a23342" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:88.8px;">Total </div><div id="a23344" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:88.8px;">$ </div><div id="a23346" style="position:absolute;left:523.56px;top:88.8px;">5,837</div><div id="a23349" style="position:absolute;font-weight:normal;font-style:normal;left:569.52px;top:88.8px;">$ </div><div id="a23351" style="position:absolute;left:618.64px;top:88.8px;">8,899</div></div><div id="TextBlockContainer184" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:31px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23354" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">Based on the variable interest rates associated with the Credit<div style="display:inline-block;width:4.75px"> </div>Facility, as of March<div style="display:inline-block;width:4.81px"> </div>31, 2021 and December 31, 2020, the amounts </div><div id="a23398" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">at which the Company’s<div style="display:inline-block;width:4.75px"> </div>total debt were recorded are not materially different<div style="display:inline-block;width:4.66px"> </div>from their fair market value.</div></div> <div id="TextBlockContainer172" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:674px;height:223px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_170_XBRL_TS_3c2c76cd76d34f9e99f3e8fb29acffb0" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer171" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:674px;height:223px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a20925" style="position:absolute;font-weight:bold;font-style:normal;left:334.093px;top:0px;">As of March 31, 2021 </div><div id="a20928" style="position:absolute;font-weight:bold;font-style:normal;left:511.56px;top:0px;">As of December 31, 2020 </div><div id="a20934" style="position:absolute;font-weight:bold;font-style:normal;left:313.933px;top:17.1px;">Interest </div><div id="a20937" style="position:absolute;font-weight:bold;font-style:normal;left:396.68px;top:17.1px;">Outstanding<div style="display:inline-block;width:3.55px"> </div></div><div id="a20940" style="position:absolute;font-weight:bold;font-style:normal;left:505.96px;top:17.1px;">Interest </div><div id="a20942" style="position:absolute;font-weight:bold;font-style:normal;left:578.64px;top:17.1px;">Outstanding<div style="display:inline-block;width:3.55px"> </div></div><div id="a20948" style="position:absolute;font-weight:bold;font-style:normal;left:322.893px;top:31.5px;">Rate </div><div id="a20951" style="position:absolute;font-weight:bold;font-style:normal;left:409.64px;top:31.5px;">Balance </div><div id="a20954" style="position:absolute;font-weight:bold;font-style:normal;left:514.92px;top:31.5px;">Rate </div><div id="a20956" style="position:absolute;font-weight:bold;font-style:normal;left:591.6px;top:31.5px;">Balance </div><div id="a20960" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:48px;">Credit Facilities: </div><div id="a20975" style="position:absolute;font-weight:normal;font-style:normal;left:14.379px;top:65.8px;">Revolver </div><div id="a20978" style="position:absolute;left:324.013px;top:65.8px;display:flex;">1.61%</div><div id="a20981" style="position:absolute;font-weight:normal;font-style:normal;left:381.48px;top:65.8px;">$ </div><div id="a20983" style="position:absolute;left:435.72px;top:65.8px;">190,000</div><div id="a20986" style="position:absolute;left:505.96px;top:65.8px;display:flex;">1.65%</div><div id="a20989" style="position:absolute;font-weight:normal;font-style:normal;left:563.44px;top:65.8px;">$ </div><div id="a20991" style="position:absolute;left:618.8px;top:65.8px;">160,000</div><div id="a20996" style="position:absolute;font-weight:normal;font-style:normal;left:14.379px;top:83.4px;">U.S. Term Loan </div><div id="a20999" style="position:absolute;left:324.013px;top:83.4px;display:flex;">1.61%</div><div id="a21003" style="position:absolute;left:435.72px;top:83.4px;">562,500</div><div id="a21006" style="position:absolute;left:505.96px;top:83.4px;display:flex;">1.65%</div><div id="a21010" style="position:absolute;left:617.68px;top:83.4px;">570,000</div><div id="a21015" style="position:absolute;font-weight:normal;font-style:normal;left:14.379px;top:101px;">EURO Term Loan </div><div id="a21018" style="position:absolute;left:324.013px;top:101px;display:flex;">1.50%</div><div id="a21022" style="position:absolute;left:435.72px;top:101px;">148,210</div><div id="a21025" style="position:absolute;left:505.96px;top:101px;display:flex;">1.50%</div><div id="a21029" style="position:absolute;left:617.68px;top:101px;">157,062</div><div id="a21033" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:117.4px;">Industrial development bonds </div><div id="a21036" style="position:absolute;left:324.013px;top:118.6px;display:flex;">5.26%</div><div id="a21040" style="position:absolute;left:442.44px;top:118.6px;">10,000</div><div id="a21043" style="position:absolute;left:505.96px;top:118.6px;display:flex;">5.26%</div><div id="a21047" style="position:absolute;left:624.4px;top:118.6px;">10,000</div><div id="a21051" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:135px;">Bank lines of credit and other debt obligations </div><div id="a21054" style="position:absolute;font-weight:normal;font-style:normal;left:320.173px;top:136.2px;">Various </div><div id="a21058" style="position:absolute;left:449px;top:136.2px;">2,377</div><div id="a21061" style="position:absolute;font-weight:normal;font-style:normal;left:502.12px;top:136.2px;">Various </div><div id="a21065" style="position:absolute;left:630.96px;top:136.2px;">2,072</div><div id="a21069" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153px;">Total debt </div><div id="a21074" style="position:absolute;font-weight:normal;font-style:normal;left:381.48px;top:153.8px;">$ </div><div id="a21076" style="position:absolute;left:435.72px;top:153.8px;">913,087</div><div id="a21081" style="position:absolute;font-weight:normal;font-style:normal;left:563.44px;top:153.8px;">$ </div><div id="a21083" style="position:absolute;left:617.68px;top:153.8px;">899,134</div><div id="a21087" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:170.3px;">Less: debt issuance costs </div><div id="a21093" style="position:absolute;left:437.48px;top:171.4px;">(10,324)</div><div id="a21099" style="position:absolute;left:619.44px;top:171.4px;">(11,099)</div><div id="a21103" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:187.9px;">Less: short-term and current portion of long-term debts </div><div id="a21113" style="position:absolute;left:437.48px;top:189px;">(43,330)</div><div id="a21119" style="position:absolute;left:619.44px;top:189px;">(38,967)</div><div id="a21123" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:206.3px;">Total long<div style="display:inline-block;width:1.36px"> </div>-term debt </div><div id="a21130" style="position:absolute;font-weight:normal;font-style:normal;left:381.48px;top:207.4px;">$ </div><div id="a21132" style="position:absolute;left:436.84px;top:207.4px;">859,433</div><div id="a21137" style="position:absolute;font-weight:normal;font-style:normal;left:563.44px;top:207.4px;">$ </div><div id="a21139" style="position:absolute;left:618.8px;top:207.4px;">849,068</div></div></div></div> 0.0161 190000000 0.0165 160000000 0.0161 562500000 0.0165 570000000 0.0150 148210000 0.0150 157062000 0.0526 10000000 0.0526 10000000 2377000 2072000 913087000 899134000 10324000 11099000 43330000 38967000 859433000 849068000 400000000.0 600000000.0 150000000.0 300000000.0 0.016 0.002 0.003 204000000 6000000 The Company’s initial consolidated net debt to consolidated adjusted EBITDA ratio could not exceed 4.25 to 1, with step downs in the permitted ratio over the term of the Credit Facility. As of March 31, 2021, the consolidated net debt to adjusted EBITDA may not exceed 4.00 to 1. The Company’s consolidated adjusted EBITDA to interest expense ratio cannot be less than 3.0 to 1 over the term of the agreement. The Credit Facility also prohibits the payment of cash dividends if the Company is in default or if the amount of the dividend paid annually exceeds the greater of $50.0 million and 20% of consolidated adjusted EBITDA unless the ratio of consolidated net debt to consolidated adjusted EBITDA is less than 2.0 to 1, in which case there is no such limitation on amount. As of March 31, 2021 and December 31, 2020, the Company was in compliance with all of the Credit Facility covenants 0.050 0.075 0.100 9600000 170000000.0 0.0164 0.031 23700000 15500000 8300000 10300000 11100000 5500000 5900000 10000000.0 10000000.0 2028 40000000 9000000 <div id="TextBlockContainer182" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:658px;height:105px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_180_XBRL_TS_428080fd6e224fb3a15fbbdfb81b4cd3" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer181" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:658px;height:105px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23300" style="position:absolute;font-weight:bold;font-style:normal;left:502.76px;top:0px;">Three Months Ended </div><div id="a23305" style="position:absolute;font-weight:bold;font-style:normal;left:534.12px;top:17.6px;">March 31,<div style="display:inline-block;width:3.93px"> </div></div><div id="a23310" style="position:absolute;font-weight:bold;font-style:normal;left:502.6px;top:35.2px;">2021 </div><div id="a23313" style="position:absolute;font-weight:bold;font-style:normal;left:597.68px;top:35.2px;">2020 </div><div id="a23317" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:52.8px;">Interest expense </div><div id="a23320" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:52.8px;">$ </div><div id="a23322" style="position:absolute;left:523.56px;top:52.8px;">4,650</div><div id="a23325" style="position:absolute;font-weight:normal;font-style:normal;left:569.52px;top:52.8px;">$ </div><div id="a23327" style="position:absolute;left:618.64px;top:52.8px;">7,712</div><div id="a23331" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:70.4px;">Amortization of debt issuance costs </div><div id="a23334" style="position:absolute;left:523.56px;top:70.4px;">1,187</div><div id="a23338" style="position:absolute;left:618.64px;top:70.4px;">1,187</div><div id="a23342" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:88.8px;">Total </div><div id="a23344" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:88.8px;">$ </div><div id="a23346" style="position:absolute;left:523.56px;top:88.8px;">5,837</div><div id="a23349" style="position:absolute;font-weight:normal;font-style:normal;left:569.52px;top:88.8px;">$ </div><div id="a23351" style="position:absolute;left:618.64px;top:88.8px;">8,899</div></div></div></div> 4650000 7712000 1187000 1187000 5837000 8899000 <div id="TextBlockContainer186" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:109px;height:16px;display:inline-block;"><div id="a23482" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 16 – Equity</div></div><div id="TextBlockContainer188" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:633px;height:16px;display:inline-block;"><div id="a23490" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">The following tables present the changes in equity,<div style="display:inline-block;width:5.44px"> </div>net of tax, for the three months ended March 31, 2021 and 2020:</div></div><div id="TextBlockContainer191" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:437px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23546" style="position:absolute;font-weight:bold;font-style:normal;left:468.84px;top:0px;">Accumulated </div><div id="a23560" style="position:absolute;font-weight:bold;font-style:normal;left:325.773px;top:14.9px;">Capital in </div><div id="a23566" style="position:absolute;font-weight:bold;font-style:normal;left:489.48px;top:14.9px;">Other </div><div id="a23577" style="position:absolute;font-weight:bold;font-style:normal;left:262.253px;top:29.9px;">Common </div><div id="a23580" style="position:absolute;font-weight:bold;font-style:normal;left:328.013px;top:29.9px;">Excess of </div><div id="a23583" style="position:absolute;font-weight:bold;font-style:normal;left:399.08px;top:29.9px;">Retained </div><div id="a23585" style="position:absolute;font-weight:bold;font-style:normal;left:459.72px;top:29.9px;">Comprehensive </div><div id="a23588" style="position:absolute;font-weight:bold;font-style:normal;left:557.16px;top:29.9px;">Noncontrolling </div><div id="a23595" style="position:absolute;font-weight:bold;font-style:normal;left:272.653px;top:45px;">Stock </div><div id="a23598" style="position:absolute;font-weight:bold;font-style:normal;left:325.293px;top:45px;">Par Value </div><div id="a23601" style="position:absolute;font-weight:bold;font-style:normal;left:398.6px;top:45px;">Earnings </div><div id="a23604" style="position:absolute;font-weight:bold;font-style:normal;left:493.64px;top:45px;">Loss </div><div id="a23607" style="position:absolute;font-weight:bold;font-style:normal;left:575.44px;top:45px;">Interest </div><div id="a23610" style="position:absolute;font-weight:bold;font-style:normal;left:669.36px;top:45px;">Total </div><div id="a23612" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:61.6px;">Balance at December 31, 2020 </div><div id="a23614" style="position:absolute;font-weight:normal;font-style:normal;left:260.493px;top:61.1px;">$ </div><div id="a23616" style="position:absolute;left:276.013px;top:61.6px;">17,851</div><div id="a23619" style="position:absolute;font-weight:normal;font-style:normal;left:323.533px;top:61.1px;">$ </div><div id="a23621" style="position:absolute;left:337.293px;top:61.6px;">905,171</div><div id="a23624" style="position:absolute;font-weight:normal;font-style:normal;left:391.533px;top:61.1px;">$ </div><div id="a23626" style="position:absolute;left:410.28px;top:61.6px;">423,940</div><div id="a23629" style="position:absolute;font-weight:normal;font-style:normal;left:464.52px;top:61.1px;">$ </div><div id="a23631" style="position:absolute;left:503.08px;top:61.6px;">(26,598)</div><div id="a23634" style="position:absolute;font-weight:normal;font-style:normal;left:555.56px;top:61.1px;">$ </div><div id="a23636" style="position:absolute;left:615.76px;top:61.6px;">550</div><div id="a23639" style="position:absolute;font-weight:normal;font-style:normal;left:646.48px;top:61.1px;">$ </div><div id="a23641" style="position:absolute;left:665.36px;top:61.6px;">1,320,914</div><div id="a23644" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:78.6px;">Net income </div><div id="a23647" style="position:absolute;left:299.373px;top:78.6px;">—</div><div id="a23651" style="position:absolute;left:367.373px;top:78.6px;">—</div><div id="a23655" style="position:absolute;left:417px;top:78.6px;">38,615</div><div id="a23659" style="position:absolute;left:531.4px;top:78.6px;">—</div><div id="a23663" style="position:absolute;left:622.48px;top:78.6px;">17</div><div id="a23667" style="position:absolute;left:682px;top:78.6px;">38,632</div><div id="a23670" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:95.7px;">Amounts reported in other comprehensive<div style="display:inline-block;width:4.32px"> </div></div><div id="a23691" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:112.6px;">loss </div><div id="a23694" style="position:absolute;left:299.373px;top:112.6px;">—</div><div id="a23698" style="position:absolute;left:367.373px;top:112.6px;">—</div><div id="a23702" style="position:absolute;left:440.36px;top:112.6px;">—</div><div id="a23706" style="position:absolute;left:503.08px;top:112.6px;">(26,630)</div><div id="a23710" style="position:absolute;left:624.24px;top:112.6px;">(2)</div><div id="a23714" style="position:absolute;left:677.04px;top:112.6px;">(26,632)</div><div id="a23717" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:129.6px;">Dividends ($</div><div id="a23717_12_5" style="position:absolute;left:83.786px;top:129.6px;">0.395</div><div id="a23717_17_12" style="position:absolute;font-weight:normal;font-style:normal;left:113.706px;top:129.6px;"><div style="display:inline-block;width:3.36px"> </div>per share) </div><div id="a23720" style="position:absolute;left:299.373px;top:129.6px;">—</div><div id="a23724" style="position:absolute;left:367.373px;top:129.6px;">—</div><div id="a23728" style="position:absolute;left:418.76px;top:129.6px;">(7,062)</div><div id="a23732" style="position:absolute;left:531.4px;top:129.6px;">—</div><div id="a23736" style="position:absolute;left:622.48px;top:129.6px;">—</div><div id="a23740" style="position:absolute;left:683.76px;top:129.6px;">(7,062)</div><div id="a23743" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:146.6px;">Share issuance and equity-based </div><div id="a23766" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:163.7px;">compensation plans </div><div id="a23769" style="position:absolute;left:299.373px;top:163.7px;">24</div><div id="a23773" style="position:absolute;left:350.573px;top:163.7px;">3,577</div><div id="a23777" style="position:absolute;left:440.36px;top:163.7px;">—</div><div id="a23781" style="position:absolute;left:531.4px;top:163.7px;">—</div><div id="a23785" style="position:absolute;left:622.48px;top:163.7px;">—</div><div id="a23789" style="position:absolute;left:688.56px;top:163.7px;">3,601</div><div id="a23791" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:181.6px;">Balance at March 31, 2021 </div><div id="a23793" style="position:absolute;font-weight:normal;font-style:normal;left:260.493px;top:180.7px;">$ </div><div id="a23795" style="position:absolute;left:276.013px;top:181.6px;">17,875</div><div id="a23798" style="position:absolute;font-weight:normal;font-style:normal;left:323.533px;top:180.7px;">$ </div><div id="a23800" style="position:absolute;left:337.293px;top:181.6px;">908,748</div><div id="a23803" style="position:absolute;font-weight:normal;font-style:normal;left:391.533px;top:180.7px;">$ </div><div id="a23805" style="position:absolute;left:410.28px;top:181.6px;">455,493</div><div id="a23808" style="position:absolute;font-weight:normal;font-style:normal;left:464.52px;top:180.7px;">$ </div><div id="a23810" style="position:absolute;left:503.08px;top:181.6px;">(53,228)</div><div id="a23813" style="position:absolute;font-weight:normal;font-style:normal;left:555.56px;top:180.7px;">$ </div><div id="a23815" style="position:absolute;left:615.76px;top:181.6px;">565</div><div id="a23818" style="position:absolute;font-weight:normal;font-style:normal;left:646.48px;top:180.7px;">$ </div><div id="a23820" style="position:absolute;left:665.36px;top:181.6px;">1,329,453</div><div id="a23842" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:216.7px;">Balance at December 31, 2019 </div><div id="a23844" style="position:absolute;font-weight:normal;font-style:normal;left:260.493px;top:215.9px;">$ </div><div id="a23846" style="position:absolute;left:276.013px;top:216.7px;">17,735</div><div id="a23849" style="position:absolute;font-weight:normal;font-style:normal;left:323.533px;top:215.9px;">$ </div><div id="a23851" style="position:absolute;left:337.293px;top:216.7px;">888,218</div><div id="a23854" style="position:absolute;font-weight:normal;font-style:normal;left:391.533px;top:215.9px;">$ </div><div id="a23856" style="position:absolute;left:410.28px;top:216.7px;">412,979</div><div id="a23859" style="position:absolute;font-weight:normal;font-style:normal;left:464.52px;top:215.9px;">$ </div><div id="a23861" style="position:absolute;left:503.08px;top:216.7px;">(78,170)</div><div id="a23864" style="position:absolute;font-weight:normal;font-style:normal;left:555.56px;top:215.9px;">$ </div><div id="a23866" style="position:absolute;left:605.68px;top:216.7px;">1,604</div><div id="a23869" style="position:absolute;font-weight:normal;font-style:normal;left:646.48px;top:215.9px;">$ </div><div id="a23871" style="position:absolute;left:665.36px;top:216.7px;">1,242,366</div><div id="a23874" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:233.6px;">Cumulative effect of an accounting change </div><div id="a23877" style="position:absolute;left:299.373px;top:233.6px;">—</div><div id="a23881" style="position:absolute;left:367.373px;top:233.6px;">—</div><div id="a23885" style="position:absolute;left:428.68px;top:233.6px;">(402)</div><div id="a23889" style="position:absolute;left:531.4px;top:233.6px;">—</div><div id="a23893" style="position:absolute;left:622.48px;top:233.6px;">—</div><div id="a23897" style="position:absolute;left:693.68px;top:233.6px;">(402)</div><div id="a23899" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:250.6px;">Balance at January 1, 2020 </div><div id="a23902" style="position:absolute;left:276.013px;top:250.6px;">17,735</div><div id="a23906" style="position:absolute;left:337.293px;top:250.6px;">888,218</div><div id="a23910" style="position:absolute;left:410.28px;top:250.6px;">412,577</div><div id="a23914" style="position:absolute;left:503.08px;top:250.6px;">(78,170)</div><div id="a23918" style="position:absolute;left:605.68px;top:250.6px;">1,604</div><div id="a23922" style="position:absolute;left:665.36px;top:250.6px;">1,241,964</div><div id="a23925" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:267.7px;">Net (loss) income </div><div id="a23928" style="position:absolute;left:299.373px;top:267.7px;">—</div><div id="a23932" style="position:absolute;left:367.373px;top:267.7px;">—</div><div id="a23936" style="position:absolute;left:412.04px;top:267.7px;">(28,381)</div><div id="a23940" style="position:absolute;left:531.4px;top:267.7px;">—</div><div id="a23944" style="position:absolute;left:622.48px;top:267.7px;">37</div><div id="a23948" style="position:absolute;left:677.04px;top:267.7px;">(28,344)</div><div id="a23951" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:284.7px;">Amounts reported in other comprehensive<div style="display:inline-block;width:4.32px"> </div></div><div id="a23972" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:301.6px;"><div style="display:inline-block;width:3.36px"> </div>loss </div><div id="a23976" style="position:absolute;left:299.373px;top:301.6px;">—</div><div id="a23980" style="position:absolute;left:367.373px;top:301.6px;">—</div><div id="a23984" style="position:absolute;left:440.36px;top:301.6px;">—</div><div id="a23988" style="position:absolute;left:503.08px;top:301.6px;">(43,354)</div><div id="a23992" style="position:absolute;left:610.8px;top:301.6px;">(132)</div><div id="a23996" style="position:absolute;left:677.04px;top:301.6px;">(43,486)</div><div id="a23999" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:318.6px;">Dividends ($</div><div id="a23999_12_5" style="position:absolute;left:83.786px;top:318.6px;">0.385</div><div id="a23999_17_12" style="position:absolute;font-weight:normal;font-style:normal;left:113.706px;top:318.6px;"><div style="display:inline-block;width:3.36px"> </div>per share) </div><div id="a24002" style="position:absolute;left:299.373px;top:318.6px;">—</div><div id="a24006" style="position:absolute;left:367.373px;top:318.6px;">—</div><div id="a24010" style="position:absolute;left:418.76px;top:318.6px;">(6,834)</div><div id="a24014" style="position:absolute;left:531.4px;top:318.6px;">—</div><div id="a24018" style="position:absolute;left:622.48px;top:318.6px;">—</div><div id="a24022" style="position:absolute;left:683.76px;top:318.6px;">(6,834)</div><div id="a24025" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:335.7px;">Acquisition of noncontrolling interest </div><div id="a24028" style="position:absolute;left:299.373px;top:335.7px;">—</div><div id="a24032" style="position:absolute;left:355.693px;top:335.7px;">(707)</div><div id="a24036" style="position:absolute;left:440.36px;top:335.7px;">—</div><div id="a24040" style="position:absolute;left:531.4px;top:335.7px;">—</div><div id="a24044" style="position:absolute;left:610.8px;top:335.7px;">(340)</div><div id="a24048" style="position:absolute;left:683.76px;top:335.7px;">(1,047)</div><div id="a24051" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:352.7px;">Distributions to noncontrolling affiliate<div style="display:inline-block;width:4.46px"> </div></div><div id="a24072" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:369.6px;">shareholders </div><div id="a24075" style="position:absolute;left:299.373px;top:369.6px;">—</div><div id="a24079" style="position:absolute;left:367.373px;top:369.6px;">—</div><div id="a24083" style="position:absolute;left:440.36px;top:369.6px;">—</div><div id="a24087" style="position:absolute;left:531.4px;top:369.6px;">—</div><div id="a24091" style="position:absolute;left:610.8px;top:369.6px;">(751)</div><div id="a24095" style="position:absolute;left:693.68px;top:369.6px;">(751)</div><div id="a24098" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:386.6px;">Share issuance and equity-based </div><div id="a24121" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:403.7px;">compensation plans </div><div id="a24124" style="position:absolute;left:299.373px;top:403.7px;">17</div><div id="a24128" style="position:absolute;left:350.573px;top:403.7px;">1,022</div><div id="a24132" style="position:absolute;left:440.36px;top:403.7px;">—</div><div id="a24136" style="position:absolute;left:531.4px;top:403.7px;">—</div><div id="a24140" style="position:absolute;left:622.48px;top:403.7px;">—</div><div id="a24144" style="position:absolute;left:688.56px;top:403.7px;">1,039</div><div id="a24146" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:421.7px;">Balance at March 31, 2020 </div><div id="a24148" style="position:absolute;font-weight:normal;font-style:normal;left:260.493px;top:420.7px;">$ </div><div id="a24150" style="position:absolute;left:276.013px;top:421.7px;">17,752</div><div id="a24153" style="position:absolute;font-weight:normal;font-style:normal;left:323.533px;top:421.7px;">$ </div><div id="a24155" style="position:absolute;left:337.293px;top:421.7px;">888,533</div><div id="a24158" style="position:absolute;font-weight:normal;font-style:normal;left:391.533px;top:420.7px;">$ </div><div id="a24160" style="position:absolute;left:410.28px;top:421.7px;">377,362</div><div id="a24163" style="position:absolute;font-weight:normal;font-style:normal;left:464.52px;top:420.7px;">$ </div><div id="a24165" style="position:absolute;left:496.52px;top:421.7px;">(121,524)</div><div id="a24168" style="position:absolute;font-weight:normal;font-style:normal;left:555.56px;top:420.7px;">$ </div><div id="a24170" style="position:absolute;left:615.76px;top:421.7px;">418</div><div id="a24173" style="position:absolute;font-weight:normal;font-style:normal;left:646.48px;top:420.7px;">$ </div><div id="a24175" style="position:absolute;left:665.36px;top:421.7px;">1,162,541</div></div><div id="TextBlockContainer194" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:31px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24228" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The following tables show the reclassifications from and<div style="display:inline-block;width:4.68px"> </div>resulting balances of AOCI for the three months ended<div style="display:inline-block;width:4.73px"> </div>March 31, 2021 </div><div id="a24268" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">and 2020:</div></div><div id="TextBlockContainer197" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:358px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24278" style="position:absolute;font-weight:bold;font-style:normal;left:404.36px;top:0px;">Defined </div><div id="a24281" style="position:absolute;font-weight:bold;font-style:normal;left:485.96px;top:0px;">Unrealized </div><div id="a24291" style="position:absolute;font-weight:bold;font-style:normal;left:316.013px;top:17px;">Currency </div><div id="a24294" style="position:absolute;font-weight:bold;font-style:normal;left:406.12px;top:17px;">Benefit </div><div id="a24297" style="position:absolute;font-weight:bold;font-style:normal;left:476.84px;top:17px;">Gain (Loss) in<div style="display:inline-block;width:3.72px"> </div></div><div id="a24307" style="position:absolute;font-weight:bold;font-style:normal;left:310.093px;top:34.1px;">Translation </div><div id="a24311" style="position:absolute;font-weight:bold;font-style:normal;left:394.28px;top:34.1px;">Retirement </div><div id="a24314" style="position:absolute;font-weight:bold;font-style:normal;left:477.16px;top:34.1px;">Available-for<div style="display:inline-block;width:1.37px"> </div>- </div><div id="a24320" style="position:absolute;font-weight:bold;font-style:normal;left:580.4px;top:34.1px;">Derivative </div><div id="a24328" style="position:absolute;font-weight:bold;font-style:normal;left:307.213px;top:51px;">Adjustments </div><div id="a24331" style="position:absolute;font-weight:bold;font-style:normal;left:410.92px;top:51px;">Plans </div><div id="a24334" style="position:absolute;font-weight:bold;font-style:normal;left:475.88px;top:51px;">Sale Securities </div><div id="a24337" style="position:absolute;font-weight:bold;font-style:normal;left:575.28px;top:51px;">Instruments </div><div id="a24340" style="position:absolute;font-weight:bold;font-style:normal;left:674.8px;top:51px;">Total </div><div id="a24342" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:68px;">Balance at December 31, 2020 </div><div id="a24344" style="position:absolute;font-weight:normal;font-style:normal;left:305.453px;top:68px;">$ </div><div id="a24346" style="position:absolute;left:342.733px;top:68px;">(2,875)</div><div id="a24349" style="position:absolute;font-weight:normal;font-style:normal;left:388.493px;top:68px;">$ </div><div id="a24351" style="position:absolute;left:419.08px;top:68px;">(23,467)</div><div id="a24354" style="position:absolute;font-weight:normal;font-style:normal;left:471.56px;top:68px;">$ </div><div id="a24356" style="position:absolute;left:528.68px;top:68px;">3,342</div><div id="a24359" style="position:absolute;font-weight:normal;font-style:normal;left:569.52px;top:68px;">$ </div><div id="a24361" style="position:absolute;left:611.76px;top:68px;">(3,598)</div><div id="a24364" style="position:absolute;font-weight:normal;font-style:normal;left:657.52px;top:68px;">$ </div><div id="a24366" style="position:absolute;left:677.04px;top:68px;">(26,598)</div><div id="a24369" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:85px;">Other comprehensive (loss) income before </div><div id="a24388" style="position:absolute;font-weight:normal;font-style:normal;left:20.427px;top:104.2px;">reclassifications </div><div id="a24391" style="position:absolute;left:336.013px;top:104.2px;">(25,459)</div><div id="a24395" style="position:absolute;left:440.68px;top:104.2px;">781</div><div id="a24399" style="position:absolute;left:533.8px;top:104.2px;">(745)</div><div id="a24403" style="position:absolute;left:626.64px;top:104.2px;">730</div><div id="a24407" style="position:absolute;left:677.04px;top:104.2px;">(24,693)</div><div id="a24410" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:121.3px;">Amounts reclassified from AOCI </div><div id="a24413" style="position:absolute;left:364.333px;top:121.3px;">—</div><div id="a24417" style="position:absolute;left:440.68px;top:121.3px;">862</div><div id="a24421" style="position:absolute;left:523.88px;top:121.3px;">(3,085)</div><div id="a24425" style="position:absolute;left:633.36px;top:121.3px;">—</div><div id="a24429" style="position:absolute;left:683.76px;top:121.3px;">(2,223)</div><div id="a24432" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:138.2px;">Current period other comprehensive (loss) income </div><div id="a24435" style="position:absolute;left:336.013px;top:138.2px;">(25,459)</div><div id="a24439" style="position:absolute;left:430.6px;top:138.2px;">1,643</div><div id="a24443" style="position:absolute;left:523.88px;top:138.2px;">(3,830)</div><div id="a24447" style="position:absolute;left:626.64px;top:138.2px;">730</div><div id="a24451" style="position:absolute;left:677.04px;top:138.2px;">(26,916)</div><div id="a24454" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:155.2px;">Related tax amounts </div><div id="a24457" style="position:absolute;left:368.333px;top:155.2px;">—</div><div id="a24461" style="position:absolute;left:435.72px;top:155.2px;">(351)</div><div id="a24465" style="position:absolute;left:538.76px;top:155.2px;">805</div><div id="a24469" style="position:absolute;left:621.68px;top:155.2px;">(168)</div><div id="a24473" style="position:absolute;left:698.64px;top:155.2px;">286</div><div id="a24476" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:172.2px;">Net current period other comprehensive (loss) income </div><div id="a24479" style="position:absolute;left:336.013px;top:172.2px;">(25,459)</div><div id="a24483" style="position:absolute;left:430.6px;top:172.2px;">1,292</div><div id="a24487" style="position:absolute;left:523.88px;top:172.2px;">(3,025)</div><div id="a24491" style="position:absolute;left:626.64px;top:172.2px;">562</div><div id="a24495" style="position:absolute;left:677.04px;top:172.2px;">(26,630)</div><div id="a24497" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:189.3px;">Balance at March 31, 2021 </div><div id="a24501" style="position:absolute;font-weight:normal;font-style:normal;left:305.453px;top:189.3px;">$ </div><div id="a24503" style="position:absolute;left:336.013px;top:189.3px;">(28,334)</div><div id="a24506" style="position:absolute;font-weight:normal;font-style:normal;left:388.493px;top:189.3px;">$ </div><div id="a24508" style="position:absolute;left:419.08px;top:189.3px;">(22,175)</div><div id="a24511" style="position:absolute;font-weight:normal;font-style:normal;left:471.56px;top:189.3px;">$ </div><div id="a24513" style="position:absolute;left:538.76px;top:189.3px;">317</div><div id="a24516" style="position:absolute;font-weight:normal;font-style:normal;left:569.52px;top:189.3px;">$ </div><div id="a24518" style="position:absolute;left:611.76px;top:189.3px;">(3,036)</div><div id="a24521" style="position:absolute;font-weight:normal;font-style:normal;left:657.52px;top:189.3px;">$ </div><div id="a24523" style="position:absolute;left:677.04px;top:189.3px;">(53,228)</div><div id="a24542" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:223.2px;">Balance at December 31, 2019 </div><div id="a24545" style="position:absolute;font-weight:normal;font-style:normal;left:305.453px;top:223.2px;">$ </div><div id="a24547" style="position:absolute;left:336.013px;top:223.2px;">(44,568)</div><div id="a24550" style="position:absolute;font-weight:normal;font-style:normal;left:388.493px;top:223.2px;">$ </div><div id="a24552" style="position:absolute;left:419.08px;top:223.2px;">(34,533)</div><div id="a24555" style="position:absolute;font-weight:normal;font-style:normal;left:471.56px;top:223.2px;">$ </div><div id="a24557" style="position:absolute;left:528.68px;top:223.2px;">1,251</div><div id="a24560" style="position:absolute;font-weight:normal;font-style:normal;left:569.52px;top:223.2px;">$ </div><div id="a24562" style="position:absolute;left:621.68px;top:223.2px;">(320)</div><div id="a24565" style="position:absolute;font-weight:normal;font-style:normal;left:657.52px;top:223.2px;">$ </div><div id="a24567" style="position:absolute;left:677.04px;top:223.2px;">(78,170)</div><div id="a24570" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:240.2px;">Other comprehensive (loss) income before<div style="display:inline-block;width:4.37px"> </div></div><div id="a24588" style="position:absolute;font-weight:normal;font-style:normal;left:20.427px;top:257.3px;">reclassifications </div><div id="a24591" style="position:absolute;left:336.013px;top:257.3px;">(54,619)</div><div id="a24595" style="position:absolute;left:440.68px;top:257.3px;">828</div><div id="a24599" style="position:absolute;left:523.88px;top:257.3px;">(2,135)</div><div id="a24603" style="position:absolute;left:611.76px;top:257.3px;">(5,170)</div><div id="a24607" style="position:absolute;left:677.04px;top:257.3px;">(61,096)</div><div id="a24610" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:274.3px;">Amounts reclassified from AOCI </div><div id="a24613" style="position:absolute;left:364.333px;top:274.3px;">—</div><div id="a24617" style="position:absolute;left:424.04px;top:274.3px;">24,366</div><div id="a24621" style="position:absolute;left:540.52px;top:274.3px;">(32)</div><div id="a24625" style="position:absolute;left:633.36px;top:274.3px;">—</div><div id="a24629" style="position:absolute;left:682px;top:274.3px;">24,334</div><div id="a24632" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:291.2px;">Current period other comprehensive (loss) income </div><div id="a24635" style="position:absolute;left:336.013px;top:291.2px;">(54,619)</div><div id="a24639" style="position:absolute;left:424.04px;top:291.2px;">25,194</div><div id="a24643" style="position:absolute;left:523.88px;top:291.2px;">(2,167)</div><div id="a24647" style="position:absolute;left:611.76px;top:291.2px;">(5,170)</div><div id="a24651" style="position:absolute;left:677.04px;top:291.2px;">(36,762)</div><div id="a24654" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:308.2px;">Related tax amounts </div><div id="a24657" style="position:absolute;left:364.333px;top:308.2px;">—</div><div id="a24661" style="position:absolute;left:425.8px;top:308.2px;">(8,237)</div><div id="a24665" style="position:absolute;left:538.76px;top:308.2px;">456</div><div id="a24669" style="position:absolute;left:616.56px;top:308.2px;">1,189</div><div id="a24673" style="position:absolute;left:683.76px;top:308.2px;">(6,592)</div><div id="a24676" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:325.3px;">Net current period other comprehensive (loss) income </div><div id="a24679" style="position:absolute;left:336.013px;top:325.3px;">(54,619)</div><div id="a24683" style="position:absolute;left:424.04px;top:325.3px;">16,957</div><div id="a24687" style="position:absolute;left:523.88px;top:325.3px;">(1,711)</div><div id="a24691" style="position:absolute;left:611.76px;top:325.3px;">(3,981)</div><div id="a24695" style="position:absolute;left:677.04px;top:325.3px;">(43,354)</div><div id="a24697" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:342.3px;">Balance at March 31, 2020 </div><div id="a24700" style="position:absolute;font-weight:normal;font-style:normal;left:305.453px;top:342.3px;">$ </div><div id="a24702" style="position:absolute;left:336.013px;top:342.3px;">(99,187)</div><div id="a24705" style="position:absolute;font-weight:normal;font-style:normal;left:388.493px;top:342.3px;">$ </div><div id="a24707" style="position:absolute;left:419.08px;top:342.3px;">(17,576)</div><div id="a24710" style="position:absolute;font-weight:normal;font-style:normal;left:471.56px;top:342.3px;">$ </div><div id="a24712" style="position:absolute;left:533.8px;top:342.3px;">(460)</div><div id="a24715" style="position:absolute;font-weight:normal;font-style:normal;left:569.52px;top:342.3px;">$ </div><div id="a24717" style="position:absolute;left:611.76px;top:342.3px;">(4,301)</div><div id="a24720" style="position:absolute;font-weight:normal;font-style:normal;left:657.52px;top:342.3px;">$ </div><div id="a24722" style="position:absolute;left:670.48px;top:342.3px;">(121,524)</div></div><div id="TextBlockContainer200" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:712px;height:47px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24724" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">All reclassifications related to unrealized gain (loss) in<div style="display:inline-block;width:4.73px"> </div>available-for-sale securities relate to the Company’s<div style="display:inline-block;width:5.42px"> </div>equity interest in a </div><div id="a24765" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">captive insurance company and are recorded in equity<div style="display:inline-block;width:4.77px"> </div>in net income of associated companies.<div style="display:inline-block;width:7.56px"> </div>The amounts reported in other </div><div id="a24804" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">comprehensive income for non-controlling interest are<div style="display:inline-block;width:4.67px"> </div>related to currency translation adjustments.</div></div> <div id="TextBlockContainer192" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:437px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_190_XBRL_TS_0b8e732c4f1a45f5be23bc0024798004" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer191" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:437px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23546" style="position:absolute;font-weight:bold;font-style:normal;left:468.84px;top:0px;">Accumulated </div><div id="a23560" style="position:absolute;font-weight:bold;font-style:normal;left:325.773px;top:14.9px;">Capital in </div><div id="a23566" style="position:absolute;font-weight:bold;font-style:normal;left:489.48px;top:14.9px;">Other </div><div id="a23577" style="position:absolute;font-weight:bold;font-style:normal;left:262.253px;top:29.9px;">Common </div><div id="a23580" style="position:absolute;font-weight:bold;font-style:normal;left:328.013px;top:29.9px;">Excess of </div><div id="a23583" style="position:absolute;font-weight:bold;font-style:normal;left:399.08px;top:29.9px;">Retained </div><div id="a23585" style="position:absolute;font-weight:bold;font-style:normal;left:459.72px;top:29.9px;">Comprehensive </div><div id="a23588" style="position:absolute;font-weight:bold;font-style:normal;left:557.16px;top:29.9px;">Noncontrolling </div><div id="a23595" style="position:absolute;font-weight:bold;font-style:normal;left:272.653px;top:45px;">Stock </div><div id="a23598" style="position:absolute;font-weight:bold;font-style:normal;left:325.293px;top:45px;">Par Value </div><div id="a23601" style="position:absolute;font-weight:bold;font-style:normal;left:398.6px;top:45px;">Earnings </div><div id="a23604" style="position:absolute;font-weight:bold;font-style:normal;left:493.64px;top:45px;">Loss </div><div id="a23607" style="position:absolute;font-weight:bold;font-style:normal;left:575.44px;top:45px;">Interest </div><div id="a23610" style="position:absolute;font-weight:bold;font-style:normal;left:669.36px;top:45px;">Total </div><div id="a23612" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:61.6px;">Balance at December 31, 2020 </div><div id="a23614" style="position:absolute;font-weight:normal;font-style:normal;left:260.493px;top:61.1px;">$ </div><div id="a23616" style="position:absolute;left:276.013px;top:61.6px;">17,851</div><div id="a23619" style="position:absolute;font-weight:normal;font-style:normal;left:323.533px;top:61.1px;">$ </div><div id="a23621" style="position:absolute;left:337.293px;top:61.6px;">905,171</div><div id="a23624" style="position:absolute;font-weight:normal;font-style:normal;left:391.533px;top:61.1px;">$ </div><div id="a23626" style="position:absolute;left:410.28px;top:61.6px;">423,940</div><div id="a23629" style="position:absolute;font-weight:normal;font-style:normal;left:464.52px;top:61.1px;">$ </div><div id="a23631" style="position:absolute;left:503.08px;top:61.6px;">(26,598)</div><div id="a23634" style="position:absolute;font-weight:normal;font-style:normal;left:555.56px;top:61.1px;">$ </div><div id="a23636" style="position:absolute;left:615.76px;top:61.6px;">550</div><div id="a23639" style="position:absolute;font-weight:normal;font-style:normal;left:646.48px;top:61.1px;">$ </div><div id="a23641" style="position:absolute;left:665.36px;top:61.6px;">1,320,914</div><div id="a23644" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:78.6px;">Net income </div><div id="a23647" style="position:absolute;left:299.373px;top:78.6px;">—</div><div id="a23651" style="position:absolute;left:367.373px;top:78.6px;">—</div><div id="a23655" style="position:absolute;left:417px;top:78.6px;">38,615</div><div id="a23659" style="position:absolute;left:531.4px;top:78.6px;">—</div><div id="a23663" style="position:absolute;left:622.48px;top:78.6px;">17</div><div id="a23667" style="position:absolute;left:682px;top:78.6px;">38,632</div><div id="a23670" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:95.7px;">Amounts reported in other comprehensive<div style="display:inline-block;width:4.32px"> </div></div><div id="a23691" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:112.6px;">loss </div><div id="a23694" style="position:absolute;left:299.373px;top:112.6px;">—</div><div id="a23698" style="position:absolute;left:367.373px;top:112.6px;">—</div><div id="a23702" style="position:absolute;left:440.36px;top:112.6px;">—</div><div id="a23706" style="position:absolute;left:503.08px;top:112.6px;">(26,630)</div><div id="a23710" style="position:absolute;left:624.24px;top:112.6px;">(2)</div><div id="a23714" style="position:absolute;left:677.04px;top:112.6px;">(26,632)</div><div id="a23717" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:129.6px;">Dividends ($</div><div id="a23717_12_5" style="position:absolute;left:83.786px;top:129.6px;">0.395</div><div id="a23717_17_12" style="position:absolute;font-weight:normal;font-style:normal;left:113.706px;top:129.6px;"><div style="display:inline-block;width:3.36px"> </div>per share) </div><div id="a23720" style="position:absolute;left:299.373px;top:129.6px;">—</div><div id="a23724" style="position:absolute;left:367.373px;top:129.6px;">—</div><div id="a23728" style="position:absolute;left:418.76px;top:129.6px;">(7,062)</div><div id="a23732" style="position:absolute;left:531.4px;top:129.6px;">—</div><div id="a23736" style="position:absolute;left:622.48px;top:129.6px;">—</div><div id="a23740" style="position:absolute;left:683.76px;top:129.6px;">(7,062)</div><div id="a23743" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:146.6px;">Share issuance and equity-based </div><div id="a23766" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:163.7px;">compensation plans </div><div id="a23769" style="position:absolute;left:299.373px;top:163.7px;">24</div><div id="a23773" style="position:absolute;left:350.573px;top:163.7px;">3,577</div><div id="a23777" style="position:absolute;left:440.36px;top:163.7px;">—</div><div id="a23781" style="position:absolute;left:531.4px;top:163.7px;">—</div><div id="a23785" style="position:absolute;left:622.48px;top:163.7px;">—</div><div id="a23789" style="position:absolute;left:688.56px;top:163.7px;">3,601</div><div id="a23791" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:181.6px;">Balance at March 31, 2021 </div><div id="a23793" style="position:absolute;font-weight:normal;font-style:normal;left:260.493px;top:180.7px;">$ </div><div id="a23795" style="position:absolute;left:276.013px;top:181.6px;">17,875</div><div id="a23798" style="position:absolute;font-weight:normal;font-style:normal;left:323.533px;top:180.7px;">$ </div><div id="a23800" style="position:absolute;left:337.293px;top:181.6px;">908,748</div><div id="a23803" style="position:absolute;font-weight:normal;font-style:normal;left:391.533px;top:180.7px;">$ </div><div id="a23805" style="position:absolute;left:410.28px;top:181.6px;">455,493</div><div id="a23808" style="position:absolute;font-weight:normal;font-style:normal;left:464.52px;top:180.7px;">$ </div><div id="a23810" style="position:absolute;left:503.08px;top:181.6px;">(53,228)</div><div id="a23813" style="position:absolute;font-weight:normal;font-style:normal;left:555.56px;top:180.7px;">$ </div><div id="a23815" style="position:absolute;left:615.76px;top:181.6px;">565</div><div id="a23818" style="position:absolute;font-weight:normal;font-style:normal;left:646.48px;top:180.7px;">$ </div><div id="a23820" style="position:absolute;left:665.36px;top:181.6px;">1,329,453</div><div id="a23842" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:216.7px;">Balance at December 31, 2019 </div><div id="a23844" style="position:absolute;font-weight:normal;font-style:normal;left:260.493px;top:215.9px;">$ </div><div id="a23846" style="position:absolute;left:276.013px;top:216.7px;">17,735</div><div id="a23849" style="position:absolute;font-weight:normal;font-style:normal;left:323.533px;top:215.9px;">$ </div><div id="a23851" style="position:absolute;left:337.293px;top:216.7px;">888,218</div><div id="a23854" style="position:absolute;font-weight:normal;font-style:normal;left:391.533px;top:215.9px;">$ </div><div id="a23856" style="position:absolute;left:410.28px;top:216.7px;">412,979</div><div id="a23859" style="position:absolute;font-weight:normal;font-style:normal;left:464.52px;top:215.9px;">$ </div><div id="a23861" style="position:absolute;left:503.08px;top:216.7px;">(78,170)</div><div id="a23864" style="position:absolute;font-weight:normal;font-style:normal;left:555.56px;top:215.9px;">$ </div><div id="a23866" style="position:absolute;left:605.68px;top:216.7px;">1,604</div><div id="a23869" style="position:absolute;font-weight:normal;font-style:normal;left:646.48px;top:215.9px;">$ </div><div id="a23871" style="position:absolute;left:665.36px;top:216.7px;">1,242,366</div><div id="a23874" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:233.6px;">Cumulative effect of an accounting change </div><div id="a23877" style="position:absolute;left:299.373px;top:233.6px;">—</div><div id="a23881" style="position:absolute;left:367.373px;top:233.6px;">—</div><div id="a23885" style="position:absolute;left:428.68px;top:233.6px;">(402)</div><div id="a23889" style="position:absolute;left:531.4px;top:233.6px;">—</div><div id="a23893" style="position:absolute;left:622.48px;top:233.6px;">—</div><div id="a23897" style="position:absolute;left:693.68px;top:233.6px;">(402)</div><div id="a23899" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:250.6px;">Balance at January 1, 2020 </div><div id="a23902" style="position:absolute;left:276.013px;top:250.6px;">17,735</div><div id="a23906" style="position:absolute;left:337.293px;top:250.6px;">888,218</div><div id="a23910" style="position:absolute;left:410.28px;top:250.6px;">412,577</div><div id="a23914" style="position:absolute;left:503.08px;top:250.6px;">(78,170)</div><div id="a23918" style="position:absolute;left:605.68px;top:250.6px;">1,604</div><div id="a23922" style="position:absolute;left:665.36px;top:250.6px;">1,241,964</div><div id="a23925" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:267.7px;">Net (loss) income </div><div id="a23928" style="position:absolute;left:299.373px;top:267.7px;">—</div><div id="a23932" style="position:absolute;left:367.373px;top:267.7px;">—</div><div id="a23936" style="position:absolute;left:412.04px;top:267.7px;">(28,381)</div><div id="a23940" style="position:absolute;left:531.4px;top:267.7px;">—</div><div id="a23944" style="position:absolute;left:622.48px;top:267.7px;">37</div><div id="a23948" style="position:absolute;left:677.04px;top:267.7px;">(28,344)</div><div id="a23951" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:284.7px;">Amounts reported in other comprehensive<div style="display:inline-block;width:4.32px"> </div></div><div id="a23972" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:301.6px;"><div style="display:inline-block;width:3.36px"> </div>loss </div><div id="a23976" style="position:absolute;left:299.373px;top:301.6px;">—</div><div id="a23980" style="position:absolute;left:367.373px;top:301.6px;">—</div><div id="a23984" style="position:absolute;left:440.36px;top:301.6px;">—</div><div id="a23988" style="position:absolute;left:503.08px;top:301.6px;">(43,354)</div><div id="a23992" style="position:absolute;left:610.8px;top:301.6px;">(132)</div><div id="a23996" style="position:absolute;left:677.04px;top:301.6px;">(43,486)</div><div id="a23999" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:318.6px;">Dividends ($</div><div id="a23999_12_5" style="position:absolute;left:83.786px;top:318.6px;">0.385</div><div id="a23999_17_12" style="position:absolute;font-weight:normal;font-style:normal;left:113.706px;top:318.6px;"><div style="display:inline-block;width:3.36px"> </div>per share) </div><div id="a24002" style="position:absolute;left:299.373px;top:318.6px;">—</div><div id="a24006" style="position:absolute;left:367.373px;top:318.6px;">—</div><div id="a24010" style="position:absolute;left:418.76px;top:318.6px;">(6,834)</div><div id="a24014" style="position:absolute;left:531.4px;top:318.6px;">—</div><div id="a24018" style="position:absolute;left:622.48px;top:318.6px;">—</div><div id="a24022" style="position:absolute;left:683.76px;top:318.6px;">(6,834)</div><div id="a24025" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:335.7px;">Acquisition of noncontrolling interest </div><div id="a24028" style="position:absolute;left:299.373px;top:335.7px;">—</div><div id="a24032" style="position:absolute;left:355.693px;top:335.7px;">(707)</div><div id="a24036" style="position:absolute;left:440.36px;top:335.7px;">—</div><div id="a24040" style="position:absolute;left:531.4px;top:335.7px;">—</div><div id="a24044" style="position:absolute;left:610.8px;top:335.7px;">(340)</div><div id="a24048" style="position:absolute;left:683.76px;top:335.7px;">(1,047)</div><div id="a24051" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:352.7px;">Distributions to noncontrolling affiliate<div style="display:inline-block;width:4.46px"> </div></div><div id="a24072" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:369.6px;">shareholders </div><div id="a24075" style="position:absolute;left:299.373px;top:369.6px;">—</div><div id="a24079" style="position:absolute;left:367.373px;top:369.6px;">—</div><div id="a24083" style="position:absolute;left:440.36px;top:369.6px;">—</div><div id="a24087" style="position:absolute;left:531.4px;top:369.6px;">—</div><div id="a24091" style="position:absolute;left:610.8px;top:369.6px;">(751)</div><div id="a24095" style="position:absolute;left:693.68px;top:369.6px;">(751)</div><div id="a24098" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:386.6px;">Share issuance and equity-based </div><div id="a24121" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:403.7px;">compensation plans </div><div id="a24124" style="position:absolute;left:299.373px;top:403.7px;">17</div><div id="a24128" style="position:absolute;left:350.573px;top:403.7px;">1,022</div><div id="a24132" style="position:absolute;left:440.36px;top:403.7px;">—</div><div id="a24136" style="position:absolute;left:531.4px;top:403.7px;">—</div><div id="a24140" style="position:absolute;left:622.48px;top:403.7px;">—</div><div id="a24144" style="position:absolute;left:688.56px;top:403.7px;">1,039</div><div id="a24146" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:421.7px;">Balance at March 31, 2020 </div><div id="a24148" style="position:absolute;font-weight:normal;font-style:normal;left:260.493px;top:420.7px;">$ </div><div id="a24150" style="position:absolute;left:276.013px;top:421.7px;">17,752</div><div id="a24153" style="position:absolute;font-weight:normal;font-style:normal;left:323.533px;top:421.7px;">$ </div><div id="a24155" style="position:absolute;left:337.293px;top:421.7px;">888,533</div><div id="a24158" style="position:absolute;font-weight:normal;font-style:normal;left:391.533px;top:420.7px;">$ </div><div id="a24160" style="position:absolute;left:410.28px;top:421.7px;">377,362</div><div id="a24163" style="position:absolute;font-weight:normal;font-style:normal;left:464.52px;top:420.7px;">$ </div><div id="a24165" style="position:absolute;left:496.52px;top:421.7px;">(121,524)</div><div id="a24168" style="position:absolute;font-weight:normal;font-style:normal;left:555.56px;top:420.7px;">$ </div><div id="a24170" style="position:absolute;left:615.76px;top:421.7px;">418</div><div id="a24173" style="position:absolute;font-weight:normal;font-style:normal;left:646.48px;top:420.7px;">$ </div><div id="a24175" style="position:absolute;left:665.36px;top:421.7px;">1,162,541</div></div></div></div> 17851000 905171000 423940000 -26598000 550000 1320914000 0 0 38615000 0 17000 38632000 0 0 0 -26630000 -2000 -26632000 0.395 0 0 7062000 0 0 7062000 24000 3577000 0 0 0 3601000 17875000 908748000 455493000 -53228000 565000 1329453000 17735000 888218000 412979000 -78170000 1604000 1242366000 0 0 -402000 0 0 -402000 17735000 888218000 412577000 -78170000 1604000 1241964000 0 0 -28381000 0 37000 -28344000 0 0 0 -43354000 -132000 -43486000 0.385 0 0 6834000 0 0 6834000 0 707000 0 0 340000 1047000 0 0 0 0 751000 751000 17000 1022000 0 0 0 1039000 17752000 888533000 377362000 -121524000 418000 1162541000 <div id="TextBlockContainer198" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:358px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_196_XBRL_TS_b56c2f72a37a4d35bb6cdf5979bcd19b" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer197" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:358px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24278" style="position:absolute;font-weight:bold;font-style:normal;left:404.36px;top:0px;">Defined </div><div id="a24281" style="position:absolute;font-weight:bold;font-style:normal;left:485.96px;top:0px;">Unrealized </div><div id="a24291" style="position:absolute;font-weight:bold;font-style:normal;left:316.013px;top:17px;">Currency </div><div id="a24294" style="position:absolute;font-weight:bold;font-style:normal;left:406.12px;top:17px;">Benefit </div><div id="a24297" style="position:absolute;font-weight:bold;font-style:normal;left:476.84px;top:17px;">Gain (Loss) in<div style="display:inline-block;width:3.72px"> </div></div><div id="a24307" style="position:absolute;font-weight:bold;font-style:normal;left:310.093px;top:34.1px;">Translation </div><div id="a24311" style="position:absolute;font-weight:bold;font-style:normal;left:394.28px;top:34.1px;">Retirement </div><div id="a24314" style="position:absolute;font-weight:bold;font-style:normal;left:477.16px;top:34.1px;">Available-for<div style="display:inline-block;width:1.37px"> </div>- </div><div id="a24320" style="position:absolute;font-weight:bold;font-style:normal;left:580.4px;top:34.1px;">Derivative </div><div id="a24328" style="position:absolute;font-weight:bold;font-style:normal;left:307.213px;top:51px;">Adjustments </div><div id="a24331" style="position:absolute;font-weight:bold;font-style:normal;left:410.92px;top:51px;">Plans </div><div id="a24334" style="position:absolute;font-weight:bold;font-style:normal;left:475.88px;top:51px;">Sale Securities </div><div id="a24337" style="position:absolute;font-weight:bold;font-style:normal;left:575.28px;top:51px;">Instruments </div><div id="a24340" style="position:absolute;font-weight:bold;font-style:normal;left:674.8px;top:51px;">Total </div><div id="a24342" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:68px;">Balance at December 31, 2020 </div><div id="a24344" style="position:absolute;font-weight:normal;font-style:normal;left:305.453px;top:68px;">$ </div><div id="a24346" style="position:absolute;left:342.733px;top:68px;">(2,875)</div><div id="a24349" style="position:absolute;font-weight:normal;font-style:normal;left:388.493px;top:68px;">$ </div><div id="a24351" style="position:absolute;left:419.08px;top:68px;">(23,467)</div><div id="a24354" style="position:absolute;font-weight:normal;font-style:normal;left:471.56px;top:68px;">$ </div><div id="a24356" style="position:absolute;left:528.68px;top:68px;">3,342</div><div id="a24359" style="position:absolute;font-weight:normal;font-style:normal;left:569.52px;top:68px;">$ </div><div id="a24361" style="position:absolute;left:611.76px;top:68px;">(3,598)</div><div id="a24364" style="position:absolute;font-weight:normal;font-style:normal;left:657.52px;top:68px;">$ </div><div id="a24366" style="position:absolute;left:677.04px;top:68px;">(26,598)</div><div id="a24369" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:85px;">Other comprehensive (loss) income before </div><div id="a24388" style="position:absolute;font-weight:normal;font-style:normal;left:20.427px;top:104.2px;">reclassifications </div><div id="a24391" style="position:absolute;left:336.013px;top:104.2px;">(25,459)</div><div id="a24395" style="position:absolute;left:440.68px;top:104.2px;">781</div><div id="a24399" style="position:absolute;left:533.8px;top:104.2px;">(745)</div><div id="a24403" style="position:absolute;left:626.64px;top:104.2px;">730</div><div id="a24407" style="position:absolute;left:677.04px;top:104.2px;">(24,693)</div><div id="a24410" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:121.3px;">Amounts reclassified from AOCI </div><div id="a24413" style="position:absolute;left:364.333px;top:121.3px;">—</div><div id="a24417" style="position:absolute;left:440.68px;top:121.3px;">862</div><div id="a24421" style="position:absolute;left:523.88px;top:121.3px;">(3,085)</div><div id="a24425" style="position:absolute;left:633.36px;top:121.3px;">—</div><div id="a24429" style="position:absolute;left:683.76px;top:121.3px;">(2,223)</div><div id="a24432" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:138.2px;">Current period other comprehensive (loss) income </div><div id="a24435" style="position:absolute;left:336.013px;top:138.2px;">(25,459)</div><div id="a24439" style="position:absolute;left:430.6px;top:138.2px;">1,643</div><div id="a24443" style="position:absolute;left:523.88px;top:138.2px;">(3,830)</div><div id="a24447" style="position:absolute;left:626.64px;top:138.2px;">730</div><div id="a24451" style="position:absolute;left:677.04px;top:138.2px;">(26,916)</div><div id="a24454" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:155.2px;">Related tax amounts </div><div id="a24457" style="position:absolute;left:368.333px;top:155.2px;">—</div><div id="a24461" style="position:absolute;left:435.72px;top:155.2px;">(351)</div><div id="a24465" style="position:absolute;left:538.76px;top:155.2px;">805</div><div id="a24469" style="position:absolute;left:621.68px;top:155.2px;">(168)</div><div id="a24473" style="position:absolute;left:698.64px;top:155.2px;">286</div><div id="a24476" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:172.2px;">Net current period other comprehensive (loss) income </div><div id="a24479" style="position:absolute;left:336.013px;top:172.2px;">(25,459)</div><div id="a24483" style="position:absolute;left:430.6px;top:172.2px;">1,292</div><div id="a24487" style="position:absolute;left:523.88px;top:172.2px;">(3,025)</div><div id="a24491" style="position:absolute;left:626.64px;top:172.2px;">562</div><div id="a24495" style="position:absolute;left:677.04px;top:172.2px;">(26,630)</div><div id="a24497" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:189.3px;">Balance at March 31, 2021 </div><div id="a24501" style="position:absolute;font-weight:normal;font-style:normal;left:305.453px;top:189.3px;">$ </div><div id="a24503" style="position:absolute;left:336.013px;top:189.3px;">(28,334)</div><div id="a24506" style="position:absolute;font-weight:normal;font-style:normal;left:388.493px;top:189.3px;">$ </div><div id="a24508" style="position:absolute;left:419.08px;top:189.3px;">(22,175)</div><div id="a24511" style="position:absolute;font-weight:normal;font-style:normal;left:471.56px;top:189.3px;">$ </div><div id="a24513" style="position:absolute;left:538.76px;top:189.3px;">317</div><div id="a24516" style="position:absolute;font-weight:normal;font-style:normal;left:569.52px;top:189.3px;">$ </div><div id="a24518" style="position:absolute;left:611.76px;top:189.3px;">(3,036)</div><div id="a24521" style="position:absolute;font-weight:normal;font-style:normal;left:657.52px;top:189.3px;">$ </div><div id="a24523" style="position:absolute;left:677.04px;top:189.3px;">(53,228)</div><div id="a24542" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:223.2px;">Balance at December 31, 2019 </div><div id="a24545" style="position:absolute;font-weight:normal;font-style:normal;left:305.453px;top:223.2px;">$ </div><div id="a24547" style="position:absolute;left:336.013px;top:223.2px;">(44,568)</div><div id="a24550" style="position:absolute;font-weight:normal;font-style:normal;left:388.493px;top:223.2px;">$ </div><div id="a24552" style="position:absolute;left:419.08px;top:223.2px;">(34,533)</div><div id="a24555" style="position:absolute;font-weight:normal;font-style:normal;left:471.56px;top:223.2px;">$ </div><div id="a24557" style="position:absolute;left:528.68px;top:223.2px;">1,251</div><div id="a24560" style="position:absolute;font-weight:normal;font-style:normal;left:569.52px;top:223.2px;">$ </div><div id="a24562" style="position:absolute;left:621.68px;top:223.2px;">(320)</div><div id="a24565" style="position:absolute;font-weight:normal;font-style:normal;left:657.52px;top:223.2px;">$ </div><div id="a24567" style="position:absolute;left:677.04px;top:223.2px;">(78,170)</div><div id="a24570" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:240.2px;">Other comprehensive (loss) income before<div style="display:inline-block;width:4.37px"> </div></div><div id="a24588" style="position:absolute;font-weight:normal;font-style:normal;left:20.427px;top:257.3px;">reclassifications </div><div id="a24591" style="position:absolute;left:336.013px;top:257.3px;">(54,619)</div><div id="a24595" style="position:absolute;left:440.68px;top:257.3px;">828</div><div id="a24599" style="position:absolute;left:523.88px;top:257.3px;">(2,135)</div><div id="a24603" style="position:absolute;left:611.76px;top:257.3px;">(5,170)</div><div id="a24607" style="position:absolute;left:677.04px;top:257.3px;">(61,096)</div><div id="a24610" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:274.3px;">Amounts reclassified from AOCI </div><div id="a24613" style="position:absolute;left:364.333px;top:274.3px;">—</div><div id="a24617" style="position:absolute;left:424.04px;top:274.3px;">24,366</div><div id="a24621" style="position:absolute;left:540.52px;top:274.3px;">(32)</div><div id="a24625" style="position:absolute;left:633.36px;top:274.3px;">—</div><div id="a24629" style="position:absolute;left:682px;top:274.3px;">24,334</div><div id="a24632" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:291.2px;">Current period other comprehensive (loss) income </div><div id="a24635" style="position:absolute;left:336.013px;top:291.2px;">(54,619)</div><div id="a24639" style="position:absolute;left:424.04px;top:291.2px;">25,194</div><div id="a24643" style="position:absolute;left:523.88px;top:291.2px;">(2,167)</div><div id="a24647" style="position:absolute;left:611.76px;top:291.2px;">(5,170)</div><div id="a24651" style="position:absolute;left:677.04px;top:291.2px;">(36,762)</div><div id="a24654" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:308.2px;">Related tax amounts </div><div id="a24657" style="position:absolute;left:364.333px;top:308.2px;">—</div><div id="a24661" style="position:absolute;left:425.8px;top:308.2px;">(8,237)</div><div id="a24665" style="position:absolute;left:538.76px;top:308.2px;">456</div><div id="a24669" style="position:absolute;left:616.56px;top:308.2px;">1,189</div><div id="a24673" style="position:absolute;left:683.76px;top:308.2px;">(6,592)</div><div id="a24676" style="position:absolute;font-weight:normal;font-style:normal;left:12.427px;top:325.3px;">Net current period other comprehensive (loss) income </div><div id="a24679" style="position:absolute;left:336.013px;top:325.3px;">(54,619)</div><div id="a24683" style="position:absolute;left:424.04px;top:325.3px;">16,957</div><div id="a24687" style="position:absolute;left:523.88px;top:325.3px;">(1,711)</div><div id="a24691" style="position:absolute;left:611.76px;top:325.3px;">(3,981)</div><div id="a24695" style="position:absolute;left:677.04px;top:325.3px;">(43,354)</div><div id="a24697" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:342.3px;">Balance at March 31, 2020 </div><div id="a24700" style="position:absolute;font-weight:normal;font-style:normal;left:305.453px;top:342.3px;">$ </div><div id="a24702" style="position:absolute;left:336.013px;top:342.3px;">(99,187)</div><div id="a24705" style="position:absolute;font-weight:normal;font-style:normal;left:388.493px;top:342.3px;">$ </div><div id="a24707" style="position:absolute;left:419.08px;top:342.3px;">(17,576)</div><div id="a24710" style="position:absolute;font-weight:normal;font-style:normal;left:471.56px;top:342.3px;">$ </div><div id="a24712" style="position:absolute;left:533.8px;top:342.3px;">(460)</div><div id="a24715" style="position:absolute;font-weight:normal;font-style:normal;left:569.52px;top:342.3px;">$ </div><div id="a24717" style="position:absolute;left:611.76px;top:342.3px;">(4,301)</div><div id="a24720" style="position:absolute;font-weight:normal;font-style:normal;left:657.52px;top:342.3px;">$ </div><div id="a24722" style="position:absolute;left:670.48px;top:342.3px;">(121,524)</div></div></div></div> -2875000 -23467000 3342000 -3598000 -26598000 -25459000 781000 -745000 730000 -24693000 0 862000 -3085000 0 -2223000 -25459000 1643000 -3830000 730000 -26916000 0 -351000 805000 -168000 286000 -25459000 1292000 -3025000 562000 -26630000 -28334000 -22175000 317000 -3036000 -53228000 -44568000 -34533000 1251000 -320000 -78170000 -54619000 828000 -2135000 -5170000 -61096000 0 24366000 -32000 0 24334000 -54619000 25194000 -2167000 -5170000 -36762000 0 -8237000 456000 1189000 -6592000 -54619000 16957000 -1711000 -3981000 -43354000 -99187000 -17576000 -460000 -4301000 -121524000 <div id="TextBlockContainer202" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:674px;height:55px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24828" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 17 – Fair Value<div style="display:inline-block;width:5.24px"> </div>Measurements</div><div id="a24839" style="position:absolute;font-weight:normal;font-style:normal;left:209.253px;top:0px;"> </div><div id="a24840" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">The Company has valued its company-owned life insurance<div style="display:inline-block;width:4.69px"> </div>policies at fair value.<div style="display:inline-block;width:7.23px"> </div>These assets are subject to fair value </div><div id="a24880" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.7px;">measurement as follows:</div></div><div id="TextBlockContainer206" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:80px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_204_XBRL_TS_8409ced421f94676af9b49f5f58e72bf" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer205" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:80px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24891" style="position:absolute;font-weight:bold;font-style:normal;left:450.76px;top:0px;">Fair Value<div style="display:inline-block;width:4.84px"> </div>Measurements at March 31, 2021 </div><div id="a24897" style="position:absolute;font-weight:bold;font-style:normal;left:373.773px;top:15px;">Total </div><div id="a24900" style="position:absolute;font-weight:bold;font-style:normal;left:503.72px;top:15px;">Using Fair Value<div style="display:inline-block;width:4.89px"> </div>Hierarchy </div><div id="a24902" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Assets </div><div id="a24904" style="position:absolute;font-weight:bold;font-style:normal;left:358.413px;top:30.7px;">Fair Value </div><div id="a24907" style="position:absolute;font-weight:bold;font-style:normal;left:465.48px;top:30.7px;">Level 1 </div><div id="a24910" style="position:absolute;font-weight:bold;font-style:normal;left:562.44px;top:30.7px;">Level 2 </div><div id="a24913" style="position:absolute;font-weight:bold;font-style:normal;left:659.44px;top:30.7px;">Level 3 </div><div id="a24915" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.6px;">Company-owned life insurance </div><div id="a24919" style="position:absolute;font-weight:normal;font-style:normal;left:346.413px;top:46.6px;">$ </div><div id="a24921" style="position:absolute;left:401.48px;top:46.6px;">2,015</div><div id="a24924" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:46.6px;">$ </div><div id="a24926" style="position:absolute;left:515.4px;top:46.6px;">—</div><div id="a24929" style="position:absolute;font-weight:normal;font-style:normal;left:540.52px;top:46.6px;">$ </div><div id="a24931" style="position:absolute;left:595.6px;top:46.6px;">2,015</div><div id="a24934" style="position:absolute;font-weight:normal;font-style:normal;left:637.52px;top:46.6px;">$ </div><div id="a24936" style="position:absolute;left:709.36px;top:46.6px;">—</div><div id="a24938" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64.5px;">Total </div><div id="a24940" style="position:absolute;font-weight:normal;font-style:normal;left:346.413px;top:64.5px;">$ </div><div id="a24942" style="position:absolute;left:401.48px;top:64.5px;">2,015</div><div id="a24945" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:64.5px;">$ </div><div id="a24947" style="position:absolute;left:515.4px;top:64.5px;">—</div><div id="a24950" style="position:absolute;font-weight:normal;font-style:normal;left:540.52px;top:64.5px;">$ </div><div id="a24952" style="position:absolute;left:595.6px;top:64.5px;">2,015</div><div id="a24955" style="position:absolute;font-weight:normal;font-style:normal;left:637.52px;top:64.5px;">$ </div><div id="a24957" style="position:absolute;left:709.36px;top:64.5px;">—</div></div></div></div><div id="TextBlockContainer210" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:80px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_208_XBRL_TS_43e169c323bc403f919308537470c7ec" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer209" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:80px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24965" style="position:absolute;font-weight:bold;font-style:normal;left:441.16px;top:0px;">Fair Value<div style="display:inline-block;width:4.84px"> </div>Measurements at December 31, 2020 </div><div id="a24970" style="position:absolute;font-weight:bold;font-style:normal;left:373.773px;top:15px;">Total </div><div id="a24973" style="position:absolute;font-weight:bold;font-style:normal;left:503.72px;top:15px;">Using Fair Value<div style="display:inline-block;width:4.89px"> </div>Hierarchy </div><div id="a24975" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.8px;">Assets </div><div id="a24977" style="position:absolute;font-weight:bold;font-style:normal;left:358.413px;top:30.8px;">Fair Value </div><div id="a24980" style="position:absolute;font-weight:bold;font-style:normal;left:465.48px;top:30.8px;">Level 1 </div><div id="a24983" style="position:absolute;font-weight:bold;font-style:normal;left:562.44px;top:30.8px;">Level 2 </div><div id="a24986" style="position:absolute;font-weight:bold;font-style:normal;left:659.44px;top:30.8px;">Level 3 </div><div id="a24988" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.6px;">Company-owned life insurance<div style="display:inline-block;width:4.06px"> </div></div><div id="a24992" style="position:absolute;font-weight:normal;font-style:normal;left:346.413px;top:46.6px;">$ </div><div id="a24994" style="position:absolute;left:398.44px;top:46.6px;">1,961</div><div id="a24997" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:46.6px;">$ </div><div id="a24999" style="position:absolute;left:512.36px;top:46.6px;">—</div><div id="a25002" style="position:absolute;font-weight:normal;font-style:normal;left:540.52px;top:46.6px;">$ </div><div id="a25004" style="position:absolute;left:592.56px;top:46.6px;">1,961</div><div id="a25007" style="position:absolute;font-weight:normal;font-style:normal;left:637.52px;top:46.6px;">$ </div><div id="a25009" style="position:absolute;left:706.32px;top:46.6px;">—</div><div id="a25011" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64.5px;">Total </div><div id="a25013" style="position:absolute;font-weight:normal;font-style:normal;left:346.413px;top:64.5px;">$ </div><div id="a25015" style="position:absolute;left:398.44px;top:64.5px;">1,961</div><div id="a25018" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:64.5px;">$ </div><div id="a25020" style="position:absolute;left:512.36px;top:64.5px;">—</div><div id="a25023" style="position:absolute;font-weight:normal;font-style:normal;left:540.52px;top:64.5px;">$ </div><div id="a25025" style="position:absolute;left:592.56px;top:64.5px;">1,961</div><div id="a25028" style="position:absolute;font-weight:normal;font-style:normal;left:637.52px;top:64.5px;">$ </div><div id="a25030" style="position:absolute;left:706.32px;top:64.5px;">—</div></div></div></div><div id="TextBlockContainer212" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:716px;height:47px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25032" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The fair values of Company-owned life insurance assets are based<div style="display:inline-block;width:4.81px"> </div>on quotes for like instruments with similar credit ratings and </div><div id="a25075" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">terms.<div style="display:inline-block;width:6.89px"> </div>The Company did not hold any Level 3 investments as of March<div style="display:inline-block;width:4.93px"> </div>31, 2021 or December 31, 2020, respectively,<div style="display:inline-block;width:5.31px"> </div>so related </div><div id="a25119" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">disclosures have not been included.</div></div> <div id="TextBlockContainer205" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:80px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24891" style="position:absolute;font-weight:bold;font-style:normal;left:450.76px;top:0px;">Fair Value<div style="display:inline-block;width:4.84px"> </div>Measurements at March 31, 2021 </div><div id="a24897" style="position:absolute;font-weight:bold;font-style:normal;left:373.773px;top:15px;">Total </div><div id="a24900" style="position:absolute;font-weight:bold;font-style:normal;left:503.72px;top:15px;">Using Fair Value<div style="display:inline-block;width:4.89px"> </div>Hierarchy </div><div id="a24902" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Assets </div><div id="a24904" style="position:absolute;font-weight:bold;font-style:normal;left:358.413px;top:30.7px;">Fair Value </div><div id="a24907" style="position:absolute;font-weight:bold;font-style:normal;left:465.48px;top:30.7px;">Level 1 </div><div id="a24910" style="position:absolute;font-weight:bold;font-style:normal;left:562.44px;top:30.7px;">Level 2 </div><div id="a24913" style="position:absolute;font-weight:bold;font-style:normal;left:659.44px;top:30.7px;">Level 3 </div><div id="a24915" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.6px;">Company-owned life insurance </div><div id="a24919" style="position:absolute;font-weight:normal;font-style:normal;left:346.413px;top:46.6px;">$ </div><div id="a24921" style="position:absolute;left:401.48px;top:46.6px;">2,015</div><div id="a24924" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:46.6px;">$ </div><div id="a24926" style="position:absolute;left:515.4px;top:46.6px;">—</div><div id="a24929" style="position:absolute;font-weight:normal;font-style:normal;left:540.52px;top:46.6px;">$ </div><div id="a24931" style="position:absolute;left:595.6px;top:46.6px;">2,015</div><div id="a24934" style="position:absolute;font-weight:normal;font-style:normal;left:637.52px;top:46.6px;">$ </div><div id="a24936" style="position:absolute;left:709.36px;top:46.6px;">—</div><div id="a24938" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64.5px;">Total </div><div id="a24940" style="position:absolute;font-weight:normal;font-style:normal;left:346.413px;top:64.5px;">$ </div><div id="a24942" style="position:absolute;left:401.48px;top:64.5px;">2,015</div><div id="a24945" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:64.5px;">$ </div><div id="a24947" style="position:absolute;left:515.4px;top:64.5px;">—</div><div id="a24950" style="position:absolute;font-weight:normal;font-style:normal;left:540.52px;top:64.5px;">$ </div><div id="a24952" style="position:absolute;left:595.6px;top:64.5px;">2,015</div><div id="a24955" style="position:absolute;font-weight:normal;font-style:normal;left:637.52px;top:64.5px;">$ </div><div id="a24957" style="position:absolute;left:709.36px;top:64.5px;">—</div></div><div id="TextBlockContainer209" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:80px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24965" style="position:absolute;font-weight:bold;font-style:normal;left:441.16px;top:0px;">Fair Value<div style="display:inline-block;width:4.84px"> </div>Measurements at December 31, 2020 </div><div id="a24970" style="position:absolute;font-weight:bold;font-style:normal;left:373.773px;top:15px;">Total </div><div id="a24973" style="position:absolute;font-weight:bold;font-style:normal;left:503.72px;top:15px;">Using Fair Value<div style="display:inline-block;width:4.89px"> </div>Hierarchy </div><div id="a24975" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.8px;">Assets </div><div id="a24977" style="position:absolute;font-weight:bold;font-style:normal;left:358.413px;top:30.8px;">Fair Value </div><div id="a24980" style="position:absolute;font-weight:bold;font-style:normal;left:465.48px;top:30.8px;">Level 1 </div><div id="a24983" style="position:absolute;font-weight:bold;font-style:normal;left:562.44px;top:30.8px;">Level 2 </div><div id="a24986" style="position:absolute;font-weight:bold;font-style:normal;left:659.44px;top:30.8px;">Level 3 </div><div id="a24988" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.6px;">Company-owned life insurance<div style="display:inline-block;width:4.06px"> </div></div><div id="a24992" style="position:absolute;font-weight:normal;font-style:normal;left:346.413px;top:46.6px;">$ </div><div id="a24994" style="position:absolute;left:398.44px;top:46.6px;">1,961</div><div id="a24997" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:46.6px;">$ </div><div id="a24999" style="position:absolute;left:512.36px;top:46.6px;">—</div><div id="a25002" style="position:absolute;font-weight:normal;font-style:normal;left:540.52px;top:46.6px;">$ </div><div id="a25004" style="position:absolute;left:592.56px;top:46.6px;">1,961</div><div id="a25007" style="position:absolute;font-weight:normal;font-style:normal;left:637.52px;top:46.6px;">$ </div><div id="a25009" style="position:absolute;left:706.32px;top:46.6px;">—</div><div id="a25011" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64.5px;">Total </div><div id="a25013" style="position:absolute;font-weight:normal;font-style:normal;left:346.413px;top:64.5px;">$ </div><div id="a25015" style="position:absolute;left:398.44px;top:64.5px;">1,961</div><div id="a25018" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:64.5px;">$ </div><div id="a25020" style="position:absolute;left:512.36px;top:64.5px;">—</div><div id="a25023" style="position:absolute;font-weight:normal;font-style:normal;left:540.52px;top:64.5px;">$ </div><div id="a25025" style="position:absolute;left:592.56px;top:64.5px;">1,961</div><div id="a25028" style="position:absolute;font-weight:normal;font-style:normal;left:637.52px;top:64.5px;">$ </div><div id="a25030" style="position:absolute;left:706.32px;top:64.5px;">—</div></div> 2015000 0 2015000 0 2015000 0 2015000 0 1961000 0 1961000 0 1961000 0 1961000 0 <div id="TextBlockContainer214" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:729px;height:155px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25179" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 18 – Hedging Activities </div><div id="a25189" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">In order to satisfy certain requirements of the Credit<div style="display:inline-block;width:4.78px"> </div>Facility as well as to manage the Company’s<div style="display:inline-block;width:4.96px"> </div>exposure to variable interest </div><div id="a25231" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.7px;">rate risk associated with the Credit Facility,<div style="display:inline-block;width:5.22px"> </div>in November 2019, the Company entered into $</div><div id="a25231_91_5" style="position:absolute;left:494.76px;top:38.7px;">170.0</div><div id="a25231_96_35" style="position:absolute;font-weight:normal;font-style:normal;left:524.84px;top:38.7px;"><div style="display:inline-block;width:3.36px"> </div>million notional amounts of three-</div><div id="a25272" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.9px;">year interest rate swaps.<div style="display:inline-block;width:7.33px"> </div>See Note 15 of Notes to Condensed Consolidated Financial Statements.<div style="display:inline-block;width:8.23px"> </div>These interest rate swaps are </div><div id="a25310" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">designated as cash flow hedges and, as such, the contracts<div style="display:inline-block;width:4.78px"> </div>are marked-to-market at each reporting date and any unrealized gains<div style="display:inline-block;width:4.85px"> </div>or </div><div id="a25356" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">losses are included in AOCI to the extent effective<div style="display:inline-block;width:4.97px"> </div>and reclassified to interest expense in the period during which the<div style="display:inline-block;width:4.81px"> </div>transaction </div><div id="a25398" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">effects earnings or it becomes probable that<div style="display:inline-block;width:4.74px"> </div>the forecasted transaction will not occur.<div style="display:inline-block;width:4.83px"> </div></div><div id="a25425" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:123.4px;">The balance sheet classification and fair values of the<div style="display:inline-block;width:4.79px"> </div>Company’s derivative instruments,<div style="display:inline-block;width:4.74px"> </div>which are Level 2 measurements, are as </div><div id="a25463" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:138.7px;">follows:</div></div><div id="TextBlockContainer217" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:664px;height:105px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25471" style="position:absolute;font-weight:bold;font-style:normal;left:535.88px;top:0px;">Fair Value </div><div id="a25477" style="position:absolute;font-weight:bold;font-style:normal;left:311.853px;top:18.1px;">Condensed Consolidated </div><div id="a25480" style="position:absolute;font-weight:bold;font-style:normal;left:487.72px;top:18.1px;">March 31,<div style="display:inline-block;width:3.93px"> </div></div><div id="a25483" style="position:absolute;font-weight:bold;font-style:normal;left:577.2px;top:18.1px;">December 31, </div><div id="a25489" style="position:absolute;font-weight:bold;font-style:normal;left:315.853px;top:35.2px;">Balance Sheet Location </div><div id="a25492" style="position:absolute;font-weight:bold;font-style:normal;left:503.56px;top:35.2px;">2021 </div><div id="a25495" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:35.2px;">2020 </div><div id="a25499" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:53.3px;">Derivatives designated as cash flow hedges: </div><div id="a25512" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:70.4px;">Interest rate swaps </div><div id="a25514" style="position:absolute;font-weight:normal;font-style:normal;left:302.413px;top:70.4px;">Other non-current liabilities </div><div id="a25519" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:70.4px;">$ </div><div id="a25521" style="position:absolute;left:526.44px;top:70.4px;">3,943</div><div id="a25524" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:70.4px;">$ </div><div id="a25526" style="position:absolute;left:625.52px;top:70.4px;">4,672</div><div id="a25535" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:88.8px;">$ </div><div id="a25537" style="position:absolute;left:526.44px;top:88.8px;">3,943</div><div id="a25540" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:88.8px;">$ </div><div id="a25542" style="position:absolute;left:625.52px;top:88.8px;">4,672</div></div><div id="TextBlockContainer220" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:389px;height:16px;display:inline-block;"><div id="a25545" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">The following table presents the net unrealized loss deferred to<div style="display:inline-block;width:4.8px"> </div>AOCI:</div></div><div id="TextBlockContainer224" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:664px;height:87px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_222_XBRL_TS_b34c985f90f84749aeca8c083ec9fd7a" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer223" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:664px;height:87px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25573" style="position:absolute;font-weight:bold;font-style:normal;left:487.72px;top:0px;">March 31,<div style="display:inline-block;width:3.93px"> </div></div><div id="a25576" style="position:absolute;font-weight:bold;font-style:normal;left:577.2px;top:0px;">December 31, </div><div id="a25584" style="position:absolute;font-weight:bold;font-style:normal;left:503.56px;top:17.6px;">2021 </div><div id="a25587" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:17.6px;">2020 </div><div id="a25591" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:35.5px;">Derivatives designated as cash flow hedges: </div><div id="a25603" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:52.8px;">Interest rate swaps </div><div id="a25606" style="position:absolute;font-weight:normal;font-style:normal;left:312.493px;top:52.8px;">AOCI </div><div id="a25608" style="position:absolute;font-weight:normal;font-style:normal;left:477.8px;top:52.8px;">$ </div><div id="a25610" style="position:absolute;left:526.44px;top:52.8px;">3,036</div><div id="a25613" style="position:absolute;font-weight:normal;font-style:normal;left:576.88px;top:52.8px;">$ </div><div id="a25615" style="position:absolute;left:625.52px;top:52.8px;">3,598</div><div id="a25623" style="position:absolute;font-weight:normal;font-style:normal;left:477.8px;top:71.2px;">$ </div><div id="a25625" style="position:absolute;left:526.44px;top:71.2px;">3,036</div><div id="a25628" style="position:absolute;font-weight:normal;font-style:normal;left:576.88px;top:71.2px;">$ </div><div id="a25630" style="position:absolute;left:625.52px;top:71.2px;">3,598</div></div></div></div><div id="TextBlockContainer226" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:426px;height:16px;display:inline-block;"><div id="a25633" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">The following table presents the net gain reclassified from<div style="display:inline-block;width:4.7px"> </div>AOCI to earnings:</div></div><div id="TextBlockContainer229" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:663px;height:84px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25662" style="position:absolute;font-weight:bold;font-style:normal;left:505.8px;top:0px;">Three Months Ended </div><div id="a25669" style="position:absolute;font-weight:bold;font-style:normal;left:537.2px;top:17px;">March 31,<div style="display:inline-block;width:3.89px"> </div></div><div id="a25676" style="position:absolute;font-weight:bold;font-style:normal;left:503.56px;top:34.3px;">2021 </div><div id="a25679" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:34.3px;">2020 </div><div id="a25683" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51.4px;">Amount and location of (expense) income reclassified<div style="display:inline-block;width:7.95px"> </div></div><div id="a25694" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;"><div style="display:inline-block;width:3.39px"> </div>from AOCI into (expense) income (Effective Portion) </div><div id="a25698" style="position:absolute;font-weight:normal;font-style:normal;left:312.493px;top:68px;">Interest expense, net </div><div id="a25700" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:68px;">$ </div><div id="a25702" style="position:absolute;left:530.6px;top:68px;">(643)</div><div id="a25705" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:68px;">$ </div><div id="a25707" style="position:absolute;left:641.36px;top:68px;">19</div></div><div id="TextBlockContainer232" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:729px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25710" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">Interest rate swaps are entered into with a limited number<div style="display:inline-block;width:4.77px"> </div>of counterparties, each of which allows for net settlement<div style="display:inline-block;width:4.71px"> </div>of all </div><div id="a25752" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">contracts through a single payment in a single currency<div style="display:inline-block;width:4.77px"> </div>in the event of a default on or termination of any one<div style="display:inline-block;width:4.72px"> </div>contract.<div style="display:inline-block;width:6.88px"> </div>As such, in </div><div id="a25802" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.6px;">accordance with the Company’s<div style="display:inline-block;width:4.75px"> </div>accounting policy,<div style="display:inline-block;width:4.73px"> </div>these derivative instruments are recorded on a net basis by<div style="display:inline-block;width:4.82px"> </div>counterparty within the </div><div id="a25840" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">Condensed Consolidated Balance Sheets.</div></div> 170000000.0 <div id="TextBlockContainer218" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:664px;height:105px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_216_XBRL_TS_f138596a148a4525a2afc60fbd8414c5" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer217" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:664px;height:105px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25471" style="position:absolute;font-weight:bold;font-style:normal;left:535.88px;top:0px;">Fair Value </div><div id="a25477" style="position:absolute;font-weight:bold;font-style:normal;left:311.853px;top:18.1px;">Condensed Consolidated </div><div id="a25480" style="position:absolute;font-weight:bold;font-style:normal;left:487.72px;top:18.1px;">March 31,<div style="display:inline-block;width:3.93px"> </div></div><div id="a25483" style="position:absolute;font-weight:bold;font-style:normal;left:577.2px;top:18.1px;">December 31, </div><div id="a25489" style="position:absolute;font-weight:bold;font-style:normal;left:315.853px;top:35.2px;">Balance Sheet Location </div><div id="a25492" style="position:absolute;font-weight:bold;font-style:normal;left:503.56px;top:35.2px;">2021 </div><div id="a25495" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:35.2px;">2020 </div><div id="a25499" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:53.3px;">Derivatives designated as cash flow hedges: </div><div id="a25512" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:70.4px;">Interest rate swaps </div><div id="a25514" style="position:absolute;font-weight:normal;font-style:normal;left:302.413px;top:70.4px;">Other non-current liabilities </div><div id="a25519" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:70.4px;">$ </div><div id="a25521" style="position:absolute;left:526.44px;top:70.4px;">3,943</div><div id="a25524" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:70.4px;">$ </div><div id="a25526" style="position:absolute;left:625.52px;top:70.4px;">4,672</div><div id="a25535" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:88.8px;">$ </div><div id="a25537" style="position:absolute;left:526.44px;top:88.8px;">3,943</div><div id="a25540" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:88.8px;">$ </div><div id="a25542" style="position:absolute;left:625.52px;top:88.8px;">4,672</div></div></div></div><div id="TextBlockContainer223" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:664px;height:87px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25573" style="position:absolute;font-weight:bold;font-style:normal;left:487.72px;top:0px;">March 31,<div style="display:inline-block;width:3.93px"> </div></div><div id="a25576" style="position:absolute;font-weight:bold;font-style:normal;left:577.2px;top:0px;">December 31, </div><div id="a25584" style="position:absolute;font-weight:bold;font-style:normal;left:503.56px;top:17.6px;">2021 </div><div id="a25587" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:17.6px;">2020 </div><div id="a25591" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:35.5px;">Derivatives designated as cash flow hedges: </div><div id="a25603" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:52.8px;">Interest rate swaps </div><div id="a25606" style="position:absolute;font-weight:normal;font-style:normal;left:312.493px;top:52.8px;">AOCI </div><div id="a25608" style="position:absolute;font-weight:normal;font-style:normal;left:477.8px;top:52.8px;">$ </div><div id="a25610" style="position:absolute;left:526.44px;top:52.8px;">3,036</div><div id="a25613" style="position:absolute;font-weight:normal;font-style:normal;left:576.88px;top:52.8px;">$ </div><div id="a25615" style="position:absolute;left:625.52px;top:52.8px;">3,598</div><div id="a25623" style="position:absolute;font-weight:normal;font-style:normal;left:477.8px;top:71.2px;">$ </div><div id="a25625" style="position:absolute;left:526.44px;top:71.2px;">3,036</div><div id="a25628" style="position:absolute;font-weight:normal;font-style:normal;left:576.88px;top:71.2px;">$ </div><div id="a25630" style="position:absolute;left:625.52px;top:71.2px;">3,598</div></div><div id="TextBlockContainer230" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:663px;height:84px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_228_XBRL_TS_9cd7d881d88c45b18c4850de5902e395" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer229" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:663px;height:84px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25662" style="position:absolute;font-weight:bold;font-style:normal;left:505.8px;top:0px;">Three Months Ended </div><div id="a25669" style="position:absolute;font-weight:bold;font-style:normal;left:537.2px;top:17px;">March 31,<div style="display:inline-block;width:3.89px"> </div></div><div id="a25676" style="position:absolute;font-weight:bold;font-style:normal;left:503.56px;top:34.3px;">2021 </div><div id="a25679" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:34.3px;">2020 </div><div id="a25683" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51.4px;">Amount and location of (expense) income reclassified<div style="display:inline-block;width:7.95px"> </div></div><div id="a25694" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;"><div style="display:inline-block;width:3.39px"> </div>from AOCI into (expense) income (Effective Portion) </div><div id="a25698" style="position:absolute;font-weight:normal;font-style:normal;left:312.493px;top:68px;">Interest expense, net </div><div id="a25700" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:68px;">$ </div><div id="a25702" style="position:absolute;left:530.6px;top:68px;">(643)</div><div id="a25705" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:68px;">$ </div><div id="a25707" style="position:absolute;left:641.36px;top:68px;">19</div></div></div></div> 3943000 4672000 3943000 4672000 3036000 3598000 3036000 3598000 3598000 -643000 19000 <div id="TextBlockContainer234" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:270px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a25848" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 19 – Commitments and Contingencies </div><div id="a25860" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">The Company previously disclosed in its 2020 Form 10-K<div style="display:inline-block;width:4.78px"> </div>that AC Products, Inc. (“ACP”), a wholly owned subsidiary,<div style="display:inline-block;width:5.48px"> </div>has been </div><div id="a25903" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.7px;">operating a groundwater treatment system to hydraulically<div style="display:inline-block;width:4.76px"> </div>contain groundwater contamination emanating from ACP’s<div style="display:inline-block;width:5.16px"> </div>site, the </div><div id="a25933" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:54.1px;">principal contaminant of which is perchloroethylene.<div style="display:inline-block;width:8.03px"> </div>As of March 31, 2021, ACP believes it is close to meeting the conditions<div style="display:inline-block;width:4.9px"> </div>for </div><div id="a25976" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">closure of the groundwater treatment system, but continues<div style="display:inline-block;width:4.74px"> </div>to operate this system while in discussions with the relevant<div style="display:inline-block;width:4.81px"> </div>authorities.<div style="display:inline-block;width:3.5px"> </div></div><div id="a26015" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">As of March 31, 2021, the Company believes that the range<div style="display:inline-block;width:4.66px"> </div>of potential-known liabilities associated with the balance<div style="display:inline-block;width:4.71px"> </div>of the ACP </div><div id="a26059" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">water remediation program is approximately $</div><div id="a26059_44_3" style="position:absolute;left:252.333px;top:100px;">0.1</div><div id="a26059_47_13" style="position:absolute;font-weight:normal;font-style:normal;left:268.973px;top:100px;"><div style="display:inline-block;width:3.36px"> </div>million to $</div><div id="a26059_60_3" style="position:absolute;left:334.413px;top:100px;">1.0</div><div id="a26059_63_70" style="position:absolute;font-weight:normal;font-style:normal;left:351.213px;top:100px;"><div style="display:inline-block;width:3.36px"> </div>million.<div style="display:inline-block;width:6.82px"> </div>The low and high ends of the range are based on the length </div><div id="a26107" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">of operation of the treatment system as determined<div style="display:inline-block;width:4.74px"> </div>by groundwater modeling.<div style="display:inline-block;width:7.19px"> </div>Costs of operation include the operation and </div><div id="a26143" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.8px;">maintenance of the extraction well, groundwater monitoring<div style="display:inline-block;width:4.67px"> </div>and program management. </div><div id="a26163" style="position:absolute;font-weight:bold;font-style:normal;left:474.76px;top:130.8px;"> </div><div id="a26164" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:154.1px;">The Company previously disclosed in its 2020 Form 10-K<div style="display:inline-block;width:4.78px"> </div>that an inactive subsidiary of the Company that was acquired<div style="display:inline-block;width:4.71px"> </div>in 1978 </div><div id="a26209" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:169.3px;">sold certain products containing asbestos, primarily<div style="display:inline-block;width:4.65px"> </div>on an installed basis, and is among the defendants in numerous<div style="display:inline-block;width:4.91px"> </div>lawsuits alleging </div><div id="a26248" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:184.7px;">injury due to exposure to asbestos.<div style="display:inline-block;width:7.39px"> </div>During the three months ended March 31, 2021, there<div style="display:inline-block;width:4.7px"> </div>have been no significant changes to the facts </div><div id="a26294" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:200px;">or circumstances of this previously disclosed matter,<div style="display:inline-block;width:5.26px"> </div>aside from on-going claims and routine payments associated with<div style="display:inline-block;width:4.72px"> </div>this litigation.<div style="display:inline-block;width:3.66px"> </div></div><div id="a26333" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:215.4px;">Based on a continued analysis of the existing and anticipated<div style="display:inline-block;width:4.8px"> </div>future claims against this subsidiary,<div style="display:inline-block;width:5.08px"> </div>it is currently projected that the </div><div id="a26376" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:230.8px;">subsidiary’s total liability<div style="display:inline-block;width:4.7px"> </div>over the next 50 years for these claims is approximately<div style="display:inline-block;width:4.81px"> </div>$</div><div id="a26376_87_3" style="position:absolute;left:452.36px;top:230.8px;">0.4</div><div id="a26376_90_39" style="position:absolute;font-weight:normal;font-style:normal;left:469.16px;top:230.8px;"><div style="display:inline-block;width:3.2px"> </div>million (excluding costs of defense). </div><div id="a26416" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:254.1px;"> </div></div><div id="TextBlockContainer236" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:631px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a26467" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;"> </div><div id="a26468" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">The Company previously disclosed in its 2020 Form 10-K<div style="display:inline-block;width:4.78px"> </div>that it is party to certain environmental matters related to certain </div><div id="a26511" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.7px;">domestic and foreign properties currently or previously<div style="display:inline-block;width:4.6px"> </div>owned by Houghton.<div style="display:inline-block;width:7.14px"> </div>These environmental matters primarily require the </div><div id="a26543" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.9px;">Company to perform long-term monitoring as well as operating<div style="display:inline-block;width:4.96px"> </div>and maintenance at each of the applicable sites.<div style="display:inline-block;width:7.7px"> </div>During the three </div><div id="a26586" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">months ended March 31, 2021, there have been no<div style="display:inline-block;width:4.71px"> </div>significant changes to the facts or circumstances of these previously<div style="display:inline-block;width:4.8px"> </div>disclosed </div><div id="a26628" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">matters, aside from on-going monitoring and maintenance<div style="display:inline-block;width:4.83px"> </div>activities and routine payments associated with each of the<div style="display:inline-block;width:4.73px"> </div>sites.<div style="display:inline-block;width:6.51px"> </div>The </div><div id="a26667" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">Company continually evaluates its obligations related to such<div style="display:inline-block;width:4.71px"> </div>matters, and based on historical costs incurred and projected<div style="display:inline-block;width:4.73px"> </div>costs to be </div><div id="a26707" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">incurred over the next 28 years, has estimated the present<div style="display:inline-block;width:4.76px"> </div>value range of costs for all of the Houghton<div style="display:inline-block;width:4.43px"> </div>environmental matters, on a </div><div id="a26754" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.7px;">discounted basis, to be between approximately $</div><div id="a26754_47_1" style="position:absolute;left:263.373px;top:130.7px;">5</div><div id="a26754_48_14" style="position:absolute;font-weight:normal;font-style:normal;left:270.093px;top:130.7px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a26754_62_1" style="position:absolute;left:344.493px;top:130.7px;">6</div><div id="a26754_63_42" style="position:absolute;font-weight:normal;font-style:normal;left:351.213px;top:130.7px;"><div style="display:inline-block;width:3.36px"> </div>million as of March 31, 2021, for which $</div><div id="a26754_105_3" style="position:absolute;left:578.319px;top:130.7px;">5.7</div><div id="a26754_108_21" style="position:absolute;font-weight:normal;font-style:normal;left:594.96px;top:130.7px;"><div style="display:inline-block;width:3.36px"> </div>million was accrued </div><div id="a26798" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:145.9px;">within other accrued liabilities and other non-current<div style="display:inline-block;width:4.77px"> </div>liabilities on the Company’s Condensed<div style="display:inline-block;width:4.79px"> </div>Consolidated Balance Sheet as of March </div><div id="a26837" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:161.3px;">31, 2021.<div style="display:inline-block;width:7.03px"> </div>Comparatively, as of December<div style="display:inline-block;width:4.81px"> </div>31, 2020, the Company had $</div><div id="a26837_68_3" style="position:absolute;left:391.533px;top:161.3px;">6.0</div><div id="a26837_71_52" style="position:absolute;font-weight:normal;font-style:normal;left:408.36px;top:161.3px;"><div style="display:inline-block;width:3.2px"> </div>million accrued for with respect to these matters. </div><div id="a26878" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:184.6px;">The Company believes, although there can be no assurance<div style="display:inline-block;width:4.72px"> </div>regarding the outcome of other unrelated environmental matters, that </div><div id="a26914" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:200px;">it has made adequate accruals for costs associated with other<div style="display:inline-block;width:4.71px"> </div>environmental problems of which it is aware.<div style="display:inline-block;width:7.73px"> </div>Approximately $</div><div id="a26914_123_3" style="position:absolute;left:670.319px;top:200px;">0.1</div><div id="a26914_126_1" style="position:absolute;font-weight:normal;font-style:normal;left:686.959px;top:200px;"> </div><div id="a26953" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:215.4px;">million were accrued as of both March 31, 2021 and<div style="display:inline-block;width:4.73px"> </div>December 31, 2020, to provide for such anticipated future<div style="display:inline-block;width:4.74px"> </div>environmental </div><div id="a26993" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:230.8px;">assessments and remediation costs.<div style="display:inline-block;width:7.49px"> </div></div><div id="a27002" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:254px;">The Company previously disclosed in its 2020 Form 10-K<div style="display:inline-block;width:4.78px"> </div>that one of the Company’s subsidiaries<div style="display:inline-block;width:4.73px"> </div>received a notice of inspection </div><div id="a27044" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:269.3px;">from a taxing authority in a country where certain<div style="display:inline-block;width:4.58px"> </div>of its subsidiaries operate which related to a non-income (indirect)<div style="display:inline-block;width:4.92px"> </div>tax that may be </div><div id="a27093" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:284.7px;">applicable to certain products the subsidiary sells.<div style="display:inline-block;width:7.81px"> </div>To date, the Company<div style="display:inline-block;width:4.86px"> </div>has not received any assessment from the authority related<div style="display:inline-block;width:4.74px"> </div>to </div><div id="a27136" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:300px;">potential liabilities that may be due from the Company’s<div style="display:inline-block;width:5.39px"> </div>subsidiary.<div style="display:inline-block;width:7.91px"> </div>Consequently, there is substantial uncertai<div style="display:inline-block;width:1.61px"> </div>nty with respect to the </div><div id="a27176" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:315.4px;">Company’s ultimate liability<div style="display:inline-block;width:4.7px"> </div>with respect to this indirect tax, as the application of<div style="display:inline-block;width:4.72px"> </div>this tax in its given market is ambiguous and </div><div id="a27220" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:330.6px;">interpreted differently among other peer companies<div style="display:inline-block;width:4.83px"> </div>and taxing authorities.<div style="display:inline-block;width:7.24px"> </div>The Company, with assistance<div style="display:inline-block;width:4.7px"> </div>from independent experts, </div><div id="a27254" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:346px;">has performed an evaluation of the applicability of this<div style="display:inline-block;width:4.74px"> </div>indirect tax to the Company’s<div style="display:inline-block;width:4.83px"> </div>subsidiaries in this country.<div style="display:inline-block;width:8.12px"> </div>Information </div><div id="a27292" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:361.3px;">available to the Company at this time is only sufficient<div style="display:inline-block;width:4.99px"> </div>to establish a range of probable liability,<div style="display:inline-block;width:5.03px"> </div>and no amount within the range is </div><div id="a27341" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:376.7px;">considered a better estimate than another.<div style="display:inline-block;width:8.62px"> </div>During the three months ended March 31, 2021 and through the<div style="display:inline-block;width:4.65px"> </div>date of this Report,<div style="display:inline-block;width:3.81px"> </div>there </div><div id="a27386" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:392px;">have been no significant changes to the facts or circumstances of<div style="display:inline-block;width:4.78px"> </div>this previously disclosed matter, aside<div style="display:inline-block;width:4.8px"> </div>from on-going discussions </div><div id="a27427" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:407.4px;">between the Company and the taxing authority related<div style="display:inline-block;width:4.7px"> </div>to this notice of inspection.<div style="display:inline-block;width:7.33px"> </div>As of March 31, 2021, the Company has recorded a </div><div id="a27473" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:422.6px;">liability of $</div><div id="a27473_14_3" style="position:absolute;left:70.538px;top:422.6px;">1.7</div><div id="a27473_17_120" style="position:absolute;font-weight:normal;font-style:normal;left:87.179px;top:422.6px;"><div style="display:inline-block;width:3.35px"> </div>million in other accrued liabilities, which reflects the low end<div style="display:inline-block;width:4.85px"> </div>of the range of probable indirect tax owed, including </div><div id="a27517" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:438px;">interest and taking into account applicable statutes of limitations.<div style="display:inline-block;width:8.27px"> </div>Because these amounts in part relate to a Houghton entity acquired </div><div id="a27558" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:453.3px;">in the Combination and for periods prior to the Combination,<div style="display:inline-block;width:4.77px"> </div>the Company has submitted an indemnification claim<div style="display:inline-block;width:4.72px"> </div>with Houghton’s </div><div id="a27597" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:468.7px;">former owners related to this potential indirect tax liability.<div style="display:inline-block;width:8.92px"> </div>The Company recorded a receivable in other assets for approximately </div><div id="a27636" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:484.1px;">$</div><div id="a27636_1_3" style="position:absolute;left:11.147px;top:484.1px;">1.1</div><div id="a27636_4_127" style="position:absolute;font-weight:normal;font-style:normal;left:27.947px;top:484.1px;"><div style="display:inline-block;width:3.36px"> </div>million, which reflects the amount of the initial recorded liability<div style="display:inline-block;width:4.8px"> </div>for which the Company anticipates being indemnified.<div style="display:inline-block;width:8.01px"> </div>As </div><div id="a27676" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:499.4px;">noted, the Company believes there is substantial uncertainty<div style="display:inline-block;width:4.69px"> </div>with respect to its ultimate liability given the ambiguous<div style="display:inline-block;width:4.74px"> </div>application of </div><div id="a27714" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:514.6px;">this indirect tax.<div style="display:inline-block;width:7.22px"> </div>At this time, the Company’s best estimate<div style="display:inline-block;width:4.77px"> </div>of a potential range for possible assessments, including<div style="display:inline-block;width:4.83px"> </div>additional amounts </div><div id="a27755" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:530px;">that may be assessed under these indirect tax laws, would<div style="display:inline-block;width:4.79px"> </div>be approximately $</div><div id="a27755_76_3" style="position:absolute;left:417.48px;top:530px;">0.6</div><div id="a27755_79_13" style="position:absolute;font-weight:normal;font-style:normal;left:434.28px;top:530px;"><div style="display:inline-block;width:3.36px"> </div>million to $</div><div id="a27755_92_2" style="position:absolute;left:499.72px;top:530px;">38</div><div id="a27755_94_40" style="position:absolute;font-weight:normal;font-style:normal;left:513px;top:530px;"><div style="display:inline-block;width:3.36px"> </div>million, which is net of approximately </div><div id="a27800" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:545.3px;">$</div><div id="a27800_1_2" style="position:absolute;left:11.147px;top:545.3px;">10</div><div id="a27800_3_63" style="position:absolute;font-weight:normal;font-style:normal;left:24.587px;top:545.3px;"><div style="display:inline-block;width:3.36px"> </div>million of estimated income tax deductions and approximately $</div><div id="a27800_66_2" style="position:absolute;left:371.533px;top:545.3px;">22</div><div id="a27800_68_54" style="position:absolute;font-weight:normal;font-style:normal;left:384.813px;top:545.3px;"><div style="display:inline-block;width:3.36px"> </div>million of applicable rights to indemnification from </div><div id="a27834" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:560.7px;">Houghton’s former owners. </div><div id="a27840" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:584.1px;">The Company is party to other litigation which management<div style="display:inline-block;width:4.81px"> </div>currently believes will not have a material adverse<div style="display:inline-block;width:4.74px"> </div>effect on the </div><div id="a27880" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:599.3px;">Company’s results of<div style="display:inline-block;width:4.59px"> </div>operations, cash flows or financial condition.<div style="display:inline-block;width:7.89px"> </div>In addition, the Company has an immaterial amount of contractual </div><div id="a27918" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:614.6px;">purchase obligations.</div></div> 100000 1000000.0 400000 5000000 6000000 5700000 6000000.0 100000 100000 1700000 1100000 600000 38000000 10000000 22000000