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<div id="TextBlockContainer4" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:492px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a3645" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 1 – Condensed Financial Information </div><div id="a3657" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">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="a3689" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.7px;">“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="a3723" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.9px;">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="a3757" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">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="a3797" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">(herein referred to as the “Combination”).<div style="display:inline-block;width:7.75px"> </div></div><div id="div_2_XBRL_TS_a97bf4534a60431983e565fb358a2b21" style="position:absolute;left:0px;top:84.6px;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="a3797_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="a3832" 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="a3868" 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="a3899" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">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="a3933" 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:7.7px"> </div>In the opinion of management, the financial statements reflect all<div style="display:inline-block;width:4.74px"> </div>adjustments which are </div><div id="a3972" 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="a4018" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:92px;">three and six months ended June 30, 2020 are not necessarily<div style="display:inline-block;width:4.76px"> </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="a4067" 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="a4111" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:122.8px;">2019 (the “2019 Form 10-K”).</div></div></div><div id="a4111_28_3" style="position:absolute;font-weight:normal;font-style:normal;left:167.813px;top:207.4px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a4124" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:230.8px;">Hyper-inflationary economies </div><div id="a4130" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:254px;">Economies that have a cumulative three-year rate of inflation<div style="display:inline-block;width:4.77px"> </div>exceeding </div><div id="a4130_72_3" style="position:absolute;left:415.88px;top:254px;">100</div><div id="a4130_75_50" style="position:absolute;font-weight:normal;font-style:normal;left:435.88px;top:254px;">% are considered hyper-inflationary in accordance </div><div id="a4166" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:269.3px;">with U.S. GAAP.<div style="display:inline-block;width:8.48px"> </div>A legal entity that operates within an economy deemed<div style="display:inline-block;width:4.86px"> </div>to be hyper-inflationary is required to remeasure its </div><div id="a4208" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:284.7px;">monetary assets and liabilities to the applicable published<div style="display:inline-block;width:4.73px"> </div>exchange rates and record the associated gains or losses resulting<div style="display:inline-block;width:4.84px"> </div>from the </div><div id="a4249" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:300px;">remeasurement directly to the Condensed Consolidated<div style="display:inline-block;width:4.86px"> </div>Statements of Operations. </div><div id="a4267" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:323.4px;">Based on various indices or index compilations currently<div style="display:inline-block;width:4.8px"> </div>being used to monitor inflation in Argentina as well as<div style="display:inline-block;width:4.71px"> </div>recent economic </div><div id="a4307" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:338.6px;">instability, effective<div style="display:inline-block;width:5.01px"> </div>July 1, 2018, Argentina’s<div style="display:inline-block;width:4.94px"> </div>economy was considered hyper-inflationary under U.S. GAAP.<div style="display:inline-block;width:9.62px"> </div>As a result, the </div><div id="a4344" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:354px;">Company began applying hyper-inflationary accounting<div style="display:inline-block;width:4.75px"> </div>with respect to the Company's wholly owned Argentine<div style="display:inline-block;width:4.86px"> </div>subsidiary beginning </div><div id="a4377" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:369.3px;">July 1, 2018.<div style="display:inline-block;width:7.09px"> </div>In addition, Houghton has an Argentina subsidiary to<div style="display:inline-block;width:4.79px"> </div>which hyper-inflationary accounting also is applied.<div style="display:inline-block;width:7.64px"> </div>As of, and </div><div id="a4421" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:384.7px;">for the three and six months ended June 30, 2020<div style="display:inline-block;width:4.71px"> </div>and 2019, the Company's Argentine subsidiaries represented<div style="display:inline-block;width:4.82px"> </div>less than </div><div id="a4421_118_1" style="position:absolute;left:645.84px;top:384.7px;">1</div><div id="a4421_119_9" style="position:absolute;font-weight:normal;font-style:normal;left:652.4px;top:384.7px;">% of the </div><div id="a4467" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:400px;">Company’s consolidated<div style="display:inline-block;width:4.77px"> </div>total assets and net sales, respectively.<div style="display:inline-block;width:8.43px"> </div>During the three and six months ended June 30, 2020, the Company </div><div id="a4509" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:415.4px;">recorded less than $</div><div id="a4509_20_3" style="position:absolute;left:110.853px;top:415.4px;">0.1</div><div id="a4509_23_14" style="position:absolute;font-weight:normal;font-style:normal;left:127.493px;top:415.4px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a4509_37_3" style="position:absolute;left:201.893px;top:415.4px;">0.1</div><div id="a4509_40_88" style="position:absolute;font-weight:normal;font-style:normal;left:218.533px;top:415.4px;"><div style="display:inline-block;width:3.4px"> </div>million, respectively,<div style="display:inline-block;width:4.7px"> </div>of remeasurement losses associated with the applicable<div style="display:inline-block;width:4.71px"> </div>currency </div><div id="a4545" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:430.6px;">conversions related to Argentina.<div style="display:inline-block;width:7.84px"> </div>Comparatively, during<div style="display:inline-block;width:4.83px"> </div>the three and six months ended June 30, 2019,<div style="display:inline-block;width:4.31px"> </div>the Company recorded less </div><div id="a4584" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:446px;">than $</div><div id="a4584_6_3" style="position:absolute;left:37.547px;top:446px;">0.1</div><div id="a4584_9_37" style="position:absolute;font-weight:normal;font-style:normal;left:54.219px;top:446px;"><div style="display:inline-block;width:3.36px"> </div>million of remeasurement gains and $</div><div id="a4584_46_3" style="position:absolute;left:259.373px;top:446px;">0.2</div><div id="a4584_49_73" style="position:absolute;font-weight:normal;font-style:normal;left:276.013px;top:446px;"><div style="display:inline-block;width:3.36px"> </div>million of remeasurement losses associated with the applicable<div style="display:inline-block;width:4.94px"> </div>currency </div><div id="a4619" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:461.3px;">conversion related to Argentina.<div style="display:inline-block;width:7.72px"> </div>These losses were recorded within foreign exchange<div style="display:inline-block;width:4.6px"> </div>(losses) gains, net, which is a component of </div><div id="a4658" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:476.7px;">other (expense) income, net, in the Company’s<div style="display:inline-block;width:5.2px"> </div>Condensed Consolidated Statements of Operations.</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="a3797_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="a3832" 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="a3868" 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="a3899" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">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="a3933" 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:7.7px"> </div>In the opinion of management, the financial statements reflect all<div style="display:inline-block;width:4.74px"> </div>adjustments which are </div><div id="a3972" 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="a4018" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:92px;">three and six months ended June 30, 2020 are not necessarily<div style="display:inline-block;width:4.76px"> </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="a4067" 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="a4111" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:122.8px;">2019 (the “2019 Form 10-K”).</div></div>

0.01

-100000

100000

-200000

<div id="TextBlockContainer6" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:270px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a4682" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 2 – Business Combinations<div style="display:inline-block;width:4.1px"> </div></div><div id="a4693" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:23.4px;">Houghton </div><div id="a4695" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:46.6px;">On </div><div id="a4695_3_14" style="position:absolute;left:48.139px;top:46.6px;">August 1, 2019</div><div id="a4695_17_104" style="position:absolute;font-weight:normal;font-style:normal;left:130.053px;top:46.6px;">, the Company completed the Combination, whereby the Company<div style="display:inline-block;width:4.85px"> </div>acquired all of the issued and outstanding </div><div id="a4734" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.9px;">shares of </div><div id="a4734_10_8" style="position:absolute;left:55.659px;top:61.9px;">Houghton</div><div id="a4734_18_114" style="position:absolute;font-weight:normal;font-style:normal;left:109.093px;top:61.9px;"><div style="display:inline-block;width:3.2px"> </div>from Gulf Houghton Lubricants, Ltd. and certain other selling<div style="display:inline-block;width:4.76px"> </div>shareholders in exchange for a combination of cash </div><div id="a4774" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:77.3px;">and shares of the Company’s<div style="display:inline-block;width:4.68px"> </div>common stock in accordance with the Share Purchase Agreement,<div style="display:inline-block;width:4.96px"> </div>dated April 4, 2017.<div style="display:inline-block;width:7.21px"> </div>Houghton is a </div><div id="a4817" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:92.6px;">leading global provider of specialty chemicals and technical<div style="display:inline-block;width:4.78px"> </div>services for metalworking and other industrial applications.<div style="display:inline-block;width:8.02px"> </div>The </div><div id="a4849" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:108px;">Company believes that combining Quaker’s<div style="display:inline-block;width:4.73px"> </div>and Houghton’s products<div style="display:inline-block;width:4.71px"> </div>and service offerings will allow Quaker Houghton to<div style="display:inline-block;width:4.78px"> </div>better </div><div id="a4884" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:123.4px;">serve its customers in its various end markets.<div style="display:inline-block;width:4.39px"> </div></div><div id="a4901" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:146.6px;">The Combination was subject to certain regulatory<div style="display:inline-block;width:4.61px"> </div>and shareholder approvals.<div style="display:inline-block;width:7.4px"> </div>At a shareholder meeting held during 2017, the </div><div id="a4938" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:161.9px;">Company’s shareholders<div style="display:inline-block;width:4.77px"> </div>approved the issuance of new shares of the Company’s<div style="display:inline-block;width:5.2px"> </div>common stock at closing of the Combination.<div style="display:inline-block;width:7.79px"> </div>Also </div><div id="a4976" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:177.3px;">in 2017, the Company received regulatory approvals for<div style="display:inline-block;width:4.82px"> </div>the Combination from China and Australia.<div style="display:inline-block;width:7.38px"> </div>The Company received </div><div id="a5011" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:192.7px;">regulatory approvals from the European Commission<div style="display:inline-block;width:4.71px"> </div>(“EC”) during the second quarter of 2019 and the U.S. Federal<div style="display:inline-block;width:4.71px"> </div>Trade </div><div id="a5047" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:208px;">Commission (“FTC”) in July 2019.<div style="display:inline-block;width:7.62px"> </div>The approvals from the FTC and the EC required the concurrent<div style="display:inline-block;width:4.83px"> </div>divestiture of certain steel and </div><div id="a5089" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:223.2px;">aluminum related product lines of Houghton, which<div style="display:inline-block;width:4.72px"> </div>were sold by Houghton on August 1, 2019 for approximately<div style="display:inline-block;width:4.77px"> </div>$</div><div id="a5089_109_2" style="position:absolute;left:620.56px;top:223.2px;">37</div><div id="a5089_111_19" style="position:absolute;font-weight:normal;font-style:normal;left:634px;top:223.2px;"><div style="display:inline-block;width:3.36px"> </div>million in cash.<div style="display:inline-block;width:3.67px"> </div></div><div id="a5131" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:238.6px;">The final remedy agreed with the EC and the FTC was consistent<div style="display:inline-block;width:4.88px"> </div>with the Company’s<div style="display:inline-block;width:4.73px"> </div>previous expectation that the total divested </div><div id="a5174" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:254px;">product lines would be approximately </div><div id="a5174_37_1" style="position:absolute;left:210.053px;top:254px;">3</div><div id="a5174_38_38" style="position:absolute;font-weight:normal;font-style:normal;left:216.773px;top:254px;">% of the combined company’s<div style="display:inline-block;width:4.75px"> </div>net sales.</div></div><div id="TextBlockContainer8" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:520px;height:16px;display:inline-block;"><div id="a5251" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">The following table summarizes the fair value of consideration<div style="display:inline-block;width:5.01px"> </div>transferred in the Combination:</div></div><div id="TextBlockContainer12" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:663px;height:67px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_10_XBRL_TS_04439dd0f64746489e0438e95f790116" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer11" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:663px;height:67px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a5279" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">Cash transferred to Houghton shareholders (a) </div><div id="a5282" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:0px;">$ </div><div id="a5284" style="position:absolute;left:611.28px;top:0px;">170,829</div><div id="a5287" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:16.6px;">Cash paid to extinguish Houghton debt obligations </div><div id="a5290" style="position:absolute;left:611.28px;top:16.6px;">702,556</div><div id="a5293" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:33.6px;">Fair value of common stock issued as consideration (b) </div><div id="a5296" style="position:absolute;left:611.28px;top:33.6px;">789,080</div><div id="a5300" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:50.6px;">Total fair value<div style="display:inline-block;width:4.67px"> </div>of consideration transferred </div><div id="a5302" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:50.6px;">$ </div><div id="a5304" style="position:absolute;left:601.36px;top:50.6px;">1,662,465</div></div></div></div><div id="TextBlockContainer16" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:247px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_14_XBRL_TS_e82f3630c0a94f6799dabea40bd828fa" style="position:absolute;left:24px;top:0px;float:left;"><div id="TextBlockContainer15" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:707px;height:77px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a5306_1_2" style="position:absolute;font-weight:normal;font-style:normal;left:8.907px;top:0px;">a)</div><div id="a5307" style="position:absolute;font-family:Arial;font-weight:normal;font-style:normal;left:19.147px;top:-0.1px;"> </div><div id="a5308" style="position:absolute;font-weight:normal;font-style:normal;left:28.459px;top:0px;">A portion is held in escrow by a third party,<div style="display:inline-block;width:5.34px"> </div>subject to indemnification rights that lapse upon the achievement<div style="display:inline-block;width:4.86px"> </div>of certain </div><div id="a5350" style="position:absolute;font-weight:normal;font-style:normal;left:28.459px;top:15.4px;">milestones. </div><div id="a5352" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">(b)</div><div id="a5353" style="position:absolute;font-family:Arial;font-weight:normal;font-style:normal;left:19.947px;top:30.6px;"> </div><div id="a5354" style="position:absolute;font-weight:normal;font-style:normal;left:28.459px;top:30.7px;">Amount was determined based on approximately </div><div id="a5354_45_3" style="position:absolute;left:293.773px;top:30.7px;">4.3</div><div id="a5354_48_28" style="position:absolute;font-weight:normal;font-style:normal;left:310.413px;top:30.7px;"><div style="display:inline-block;width:3.36px"> </div>million shares, comprising </div><div id="a5354_76_4" style="position:absolute;left:458.92px;top:30.7px;">24.5</div><div id="a5354_80_37" style="position:absolute;font-weight:normal;font-style:normal;left:482.28px;top:30.7px;">% of the common stock of the Company </div><div id="a5390" style="position:absolute;font-weight:normal;font-style:normal;left:28.459px;top:46.1px;">immediately after the closing, and the closing price per<div style="display:inline-block;width:4.73px"> </div>share of Quaker Chemical Corporation common stock<div style="display:inline-block;width:4.57px"> </div>of $</div><div id="a5390_111_6" style="position:absolute;left:638.959px;top:46.1px;">182.27</div><div id="a5390_117_4" style="position:absolute;font-weight:normal;font-style:normal;left:675.759px;top:46.1px;"><div style="display:inline-block;width:3.2px"> </div>on </div><div id="a5428" style="position:absolute;font-weight:normal;font-style:normal;left:28.459px;top:61.4px;">August 1, 2019.</div></div></div><div id="a5428_15_1" style="position:absolute;font-weight:normal;font-style:normal;left:137.573px;top:61.4px;"> </div><div id="a5434" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:84.6px;">The Company accounted for the Combination under the<div style="display:inline-block;width:4.79px"> </div>acquisition method of accounting.<div style="display:inline-block;width:7.15px"> </div>This method requires the recording of </div><div id="a5470" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">acquired assets, including separately identifiable<div style="display:inline-block;width:4.71px"> </div>intangible assets, at their fair value on the acquisition<div style="display:inline-block;width:4.37px"> </div>date.<div style="display:inline-block;width:6.92px"> </div>Any excess of the </div><div id="a5509" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">purchase price over the estimated fair value of<div style="display:inline-block;width:4.69px"> </div>the identifiable net assets acquired is recorded as goodwill.<div style="display:inline-block;width:7.94px"> </div>The determination of the </div><div id="a5551" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.8px;">estimated fair value of assets acquired,<div style="display:inline-block;width:4.51px"> </div>including indefinite and definite-lived intangible assets,<div style="display:inline-block;width:4.13px"> </div>requires management’s<div style="display:inline-block;width:4.77px"> </div>judgment and </div><div id="a5587" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:146px;">often involves the use of significant estimates and assumptions<div style="display:inline-block;width:1.43px"> </div>,<div style="display:inline-block;width:3.4px"> </div>including assumptions with respect to future cash inflows and </div><div id="a5624" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:161.3px;">outflows, discount rates, customer attrition rates, royalty<div style="display:inline-block;width:4.87px"> </div>rates, asset lives and market multiples, among other items.<div style="display:inline-block;width:8.15px"> </div>Fair values were </div><div id="a5662" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:176.7px;">determined by management using a variety of methodolog<div style="display:inline-block;width:1.6px"> </div>ies and resources, including external independent valuation<div style="display:inline-block;width:4.71px"> </div>experts.<div style="display:inline-block;width:6.65px"> </div>The </div><div id="a5695" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:192px;">valuation methods included physical appraisals, discounted<div style="display:inline-block;width:4.79px"> </div>cash flow analyses, excess earnings, relief from<div style="display:inline-block;width:4.54px"> </div>royalty, and other </div><div id="a5727" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:207.4px;">appropriate valuation techniques to determine the fair value<div style="display:inline-block;width:4.6px"> </div>of assets acquired and liabilities assumed. </div><div id="a5755" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:230.8px;">The following table presents the current preliminary estimated<div style="display:inline-block;width:4.87px"> </div>fair values of Houghton net assets acquired:</div></div><div id="TextBlockContainer19" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:652px;height:380px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a5790" style="position:absolute;font-weight:bold;font-style:normal;left:463.72px;top:0px;">Measurement </div><div id="a5798" style="position:absolute;font-weight:bold;font-style:normal;left:380.04px;top:15px;">August 1, </div><div id="a5801" style="position:absolute;font-weight:bold;font-style:normal;left:484.2px;top:15px;">Period </div><div id="a5804" style="position:absolute;font-weight:bold;font-style:normal;left:559.44px;top:15px;">August 1, 2019 </div><div id="a5810" style="position:absolute;font-weight:bold;font-style:normal;left:384.2px;top:30.1px;">2019 (1) </div><div id="a5813" style="position:absolute;font-weight:bold;font-style:normal;left:466.76px;top:30.1px;">Adjustments </div><div id="a5816" style="position:absolute;font-weight:bold;font-style:normal;left:565.04px;top:30.1px;">(as adjusted) </div><div id="a5820" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.8px;">Cash and cash equivalents </div><div id="a5822" style="position:absolute;font-weight:normal;font-style:normal;left:364.493px;top:45.8px;">$ </div><div id="a5824" style="position:absolute;left:409px;top:45.8px;">75,821</div><div id="a5827" style="position:absolute;font-weight:normal;font-style:normal;left:461.48px;top:45.8px;">$ </div><div id="a5829" style="position:absolute;left:527.4px;top:45.8px;">—</div><div id="a5832" style="position:absolute;font-weight:normal;font-style:normal;left:556.56px;top:45.8px;">$ </div><div id="a5834" style="position:absolute;left:606px;top:45.8px;">75,821</div><div id="a5838" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:60px;">Accounts receivable, net </div><div id="a5841" style="position:absolute;left:402.28px;top:60px;">178,922</div><div id="a5845" style="position:absolute;left:527.4px;top:60px;">—</div><div id="a5849" style="position:absolute;left:599.28px;top:60px;">178,922</div><div id="a5853" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:75px;">Inventories, net </div><div id="a5857" style="position:absolute;left:409px;top:75px;">95,193</div><div id="a5861" style="position:absolute;left:527.4px;top:75px;">—</div><div id="a5865" style="position:absolute;left:606px;top:75px;">95,193</div><div id="a5869" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:90.1px;">Prepaid expenses and other assets </div><div id="a5872" style="position:absolute;left:409px;top:90.1px;">10,652</div><div id="a5876" style="position:absolute;left:520.68px;top:90.1px;">314</div><div id="a5880" style="position:absolute;left:606px;top:90.1px;">10,966</div><div id="a5884" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:105.1px;">Property, plant and<div style="display:inline-block;width:4.72px"> </div>equipment </div><div id="a5888" style="position:absolute;left:402.28px;top:105.1px;">115,529</div><div id="a5892" style="position:absolute;left:522.44px;top:105.1px;">(66)</div><div id="a5896" style="position:absolute;left:599.28px;top:105.1px;">115,463</div><div id="a5900" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:120px;">Right of use lease assets </div><div id="a5903" style="position:absolute;left:409px;top:120px;">10,673</div><div id="a5907" style="position:absolute;left:527.4px;top:120px;">—</div><div id="a5911" style="position:absolute;left:606px;top:120px;">10,673</div><div id="a5915" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:135.1px;">Investments in associated companies </div><div id="a5919" style="position:absolute;left:409px;top:135.1px;">66,447</div><div id="a5923" style="position:absolute;left:527.4px;top:135.1px;">—</div><div id="a5927" style="position:absolute;left:606px;top:135.1px;">66,447</div><div id="a5931" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:150.1px;">Other non-current assets </div><div id="a5936" style="position:absolute;left:415.56px;top:150.1px;">4,710</div><div id="a5940" style="position:absolute;left:510.6px;top:150.1px;">1,553</div><div id="a5944" style="position:absolute;left:612.56px;top:150.1px;">6,263</div><div id="a5948" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:165.1px;">Intangible assets </div><div id="a5952" style="position:absolute;left:392.36px;top:165.1px;">1,028,400</div><div id="a5956" style="position:absolute;left:527.4px;top:165.1px;">—</div><div id="a5960" style="position:absolute;left:589.36px;top:165.1px;">1,028,400</div><div id="a5964" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:180px;">Goodwill </div><div id="a5967" style="position:absolute;left:402.28px;top:180px;">494,915</div><div id="a5971" style="position:absolute;left:510.6px;top:180px;">7,737</div><div id="a5975" style="position:absolute;left:599.28px;top:180px;">502,652</div><div id="a5980" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:195.7px;">Total assets purchased </div><div id="a5983" style="position:absolute;left:392.36px;top:195.7px;">2,081,262</div><div id="a5987" style="position:absolute;left:510.6px;top:195.7px;">9,538</div><div id="a5991" style="position:absolute;left:589.36px;top:195.7px;">2,090,800</div><div id="a5995" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:210.1px;">Short-term borrowings, not refinanced at closing </div><div id="a6000" style="position:absolute;left:415.56px;top:210.1px;">9,297</div><div id="a6004" style="position:absolute;left:527.4px;top:210.1px;">—</div><div id="a6008" style="position:absolute;left:612.56px;top:210.1px;">9,297</div><div id="a6012" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:226.7px;">Accounts payable, accrued expenses and other accrued<div style="display:inline-block;width:4.7px"> </div>liabilities </div><div id="a6016" style="position:absolute;left:402.28px;top:226.7px;">150,078</div><div id="a6020" style="position:absolute;left:520.68px;top:226.7px;">853</div><div id="a6024" style="position:absolute;left:599.28px;top:226.7px;">150,931</div><div id="a6028" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:243.7px;">Deferred tax liabilities </div><div id="a6031" style="position:absolute;left:402.28px;top:243.7px;">205,082</div><div id="a6035" style="position:absolute;left:510.6px;top:243.7px;">7,132</div><div id="a6039" style="position:absolute;left:599.28px;top:243.7px;">212,214</div><div id="a6043" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:260.8px;">Long-term lease liabilities </div><div id="a6049" style="position:absolute;left:415.56px;top:260.8px;">6,607</div><div id="a6053" style="position:absolute;left:527.4px;top:260.8px;">—</div><div id="a6057" style="position:absolute;left:612.56px;top:260.8px;">6,607</div><div id="a6061" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:277.8px;">Other non-current liabilities </div><div id="a6067" style="position:absolute;left:409px;top:277.8px;">47,733</div><div id="a6071" style="position:absolute;left:510.6px;top:277.8px;">1,553</div><div id="a6075" style="position:absolute;left:606px;top:277.8px;">49,286</div><div id="a6080" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:294.7px;">Total liabilities assumed </div><div id="a6083" style="position:absolute;left:402.28px;top:294.7px;">418,797</div><div id="a6087" style="position:absolute;left:510.6px;top:294.7px;">9,538</div><div id="a6091" style="position:absolute;left:599.28px;top:294.7px;">428,335</div><div id="a6096" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:311.7px;">Total consideration<div style="display:inline-block;width:4.76px"> </div>paid for Houghton </div><div id="a6099" style="position:absolute;left:392.36px;top:311.7px;">1,662,465</div><div id="a6103" style="position:absolute;left:527.4px;top:311.7px;">—</div><div id="a6107" style="position:absolute;left:589.36px;top:311.7px;">1,662,465</div><div id="a6112" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:328.9px;">Less: cash acquired </div><div id="a6115" style="position:absolute;left:409px;top:328.9px;">75,821</div><div id="a6119" style="position:absolute;left:527.4px;top:328.9px;">—</div><div id="a6123" style="position:absolute;left:606px;top:328.9px;">75,821</div><div id="a6128" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:345.8px;">Less: fair value of common stock issued as consideration </div><div id="a6132" style="position:absolute;left:402.28px;top:345.8px;">789,080</div><div id="a6136" style="position:absolute;left:527.4px;top:345.8px;">—</div><div id="a6140" style="position:absolute;left:599.28px;top:345.8px;">789,080</div><div id="a6145" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:363.7px;">Net cash paid for Houghton </div><div id="a6147" style="position:absolute;font-weight:normal;font-style:normal;left:364.493px;top:363.7px;">$ </div><div id="a6149" style="position:absolute;left:402.28px;top:363.7px;">797,564</div><div id="a6152" style="position:absolute;font-weight:normal;font-style:normal;left:461.48px;top:363.7px;">$ </div><div id="a6154" style="position:absolute;left:536.2px;top:363.7px;">-</div><div id="a6157" style="position:absolute;font-weight:normal;font-style:normal;left:556.56px;top:363.7px;">$ </div><div id="a6159" style="position:absolute;left:599.28px;top:363.7px;">797,564</div></div><div id="TextBlockContainer24" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:359px;height:16px;display:inline-block;"><div id="div_22_XBRL_TS_2454c192932442fa84f1e20a69aea6b2" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer23" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:359px;height:16px;display:inline-block;"><div id="a6162" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">(1) As<div style="display:inline-block;width:5.23px"> </div>previously disclosed in the Company’s<div style="display:inline-block;width:5.25px"> </div>2019 Form 10-K.</div></div></div></div><div id="TextBlockContainer26" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:727px;height:93px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a6184" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">As of June 30, 2020, the allocation of the purchase price<div style="display:inline-block;width:4.78px"> </div>for the Combination has not been finalized and the </div><div id="a6184_109_8" style="position:absolute;left:606.32px;top:0px;-sec-ix-hidden:ID_1107;">one-year</div><div id="a6184_117_1" style="position:absolute;font-weight:normal;font-style:normal;left:652.879px;top:0px;"> </div><div id="a6230" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">measurement period has not ended.<div style="display:inline-block;width:7.68px"> </div>While not currently expected, further adjustments may be necessary<div style="display:inline-block;width:4.82px"> </div>as a result of the Company’s </div><div id="a6271" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.6px;">on-going assessment of additional information related<div style="display:inline-block;width:4.71px"> </div>to the fair value of assets acquired and liabilities assumed.<div style="display:inline-block;width:7.99px"> </div>Houghton assets </div><div id="a6309" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">acquired and liabilities assumed have been assigned<div style="display:inline-block;width:4.71px"> </div>to each of the Company’s reportable<div style="display:inline-block;width:4.92px"> </div>segments on a specific identification or </div><div id="a6347" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">allocated basis, as applicable.<div style="display:inline-block;width:7.31px"> </div>Measurement period adjustments recorded during the first<div style="display:inline-block;width:4.73px"> </div>six months of 2020 related primarily to </div><div id="a6384" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.6px;">increasing the valuation allowances against the deferred<div style="display:inline-block;width:4.79px"> </div>tax assets associated with foreign tax credits acquired as part<div style="display:inline-block;width:4.76px"> </div>of the</div></div><div id="TextBlockContainer28" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:239px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a6476" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">Combination as a result of additional information available<div style="display:inline-block;width:4.78px"> </div>used to update the Company’s<div style="display:inline-block;width:4.75px"> </div>initial estimates of expenses allocated to </div><div id="a6514" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">foreign source income and expected creditable foreign<div style="display:inline-block;width:4.75px"> </div>taxes.<div style="display:inline-block;width:6.67px"> </div>In addition, measurement period adjustments include the recognition<div style="display:inline-block;width:4.88px"> </div>of </div><div id="a6548" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">additional other non-current assets and other non-current<div style="display:inline-block;width:4.82px"> </div>liabilities based on additional information obtained regarding<div style="display:inline-block;width:4.71px"> </div>certain tax </div><div id="a6584" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">audits and associated rights to indemnification, and<div style="display:inline-block;width:4.64px"> </div>certain non-income tax liabilities payable upon closing of<div style="display:inline-block;width:4.75px"> </div>the Combination in </div><div id="a6623" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">certain countries.<div style="display:inline-block;width:3.78px"> </div></div><div id="a6628" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:84.6px;">Combination, integration and other acquisition-related<div style="display:inline-block;width:4.74px"> </div>expenses have been and are expected to continue to be significant.<div style="display:inline-block;width:8.08px"> </div>The </div><div id="a6664" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">Company incurred total costs of approximately $</div><div id="a6664_47_3" style="position:absolute;left:266.093px;top:100px;">8.3</div><div id="a6664_50_14" style="position:absolute;font-weight:normal;font-style:normal;left:282.733px;top:100px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a6664_64_4" style="position:absolute;left:357.293px;top:100px;">16.5</div><div id="a6664_68_59" style="position:absolute;font-weight:normal;font-style:normal;left:380.653px;top:100px;"><div style="display:inline-block;width:3.2px"> </div>million for the three and six months ended June 30, 2020, </div><div id="a6707" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">respectively, primarily<div style="display:inline-block;width:4.84px"> </div>for professional fees related to Houghton integration<div style="display:inline-block;width:4.47px"> </div>activities.<div style="display:inline-block;width:6.82px"> </div>Comparatively, the Company<div style="display:inline-block;width:4.8px"> </div>incurred total </div><div id="a6738" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.7px;">costs of $</div><div id="a6738_10_3" style="position:absolute;left:55.659px;top:130.7px;">5.5</div><div id="a6738_13_14" style="position:absolute;font-weight:normal;font-style:normal;left:72.299px;top:130.7px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a6738_27_4" style="position:absolute;left:146.853px;top:130.7px;">10.8</div><div id="a6738_31_98" style="position:absolute;font-weight:normal;font-style:normal;left:170.053px;top:130.7px;"><div style="display:inline-block;width:3.36px"> </div>million during the three and six months ended June 30,<div style="display:inline-block;width:4.59px"> </div>2019, respectively, primarily<div style="display:inline-block;width:4.93px"> </div>for various </div><div id="a6781" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:145.9px;">professional fees and integration planning and regulatory<div style="display:inline-block;width:4.77px"> </div>approval.<div style="display:inline-block;width:6.86px"> </div>These costs also include $</div><div id="a6781_95_3" style="position:absolute;left:508.2px;top:145.9px;">0.3</div><div id="a6781_98_14" style="position:absolute;font-weight:normal;font-style:normal;left:524.84px;top:145.9px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a6781_112_3" style="position:absolute;left:599.28px;top:145.9px;">0.8</div><div id="a6781_115_12" style="position:absolute;font-weight:normal;font-style:normal;left:616.08px;top:145.9px;"><div style="display:inline-block;width:3.2px"> </div>million of </div><div id="a6818" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:161.3px;">accelerated depreciation charges during the three<div style="display:inline-block;width:4.87px"> </div>and six months ended June 30, 2020, respectively,<div style="display:inline-block;width:5.22px"> </div>and $</div><div id="a6818_105_3" style="position:absolute;left:569.639px;top:161.3px;">0.9</div><div id="a6818_108_14" style="position:absolute;font-weight:normal;font-style:normal;left:586.319px;top:161.3px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a6818_122_3" style="position:absolute;left:660.719px;top:161.3px;">1.7</div><div id="a6818_125_9" style="position:absolute;font-weight:normal;font-style:normal;left:677.359px;top:161.3px;"><div style="display:inline-block;width:3.36px"> </div>million </div><div id="a6859" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:176.6px;">of interest costs to maintain the bank commitment<div style="display:inline-block;width:4.72px"> </div>(“ticking fees”) for the Combination during the three and six months<div style="display:inline-block;width:4.82px"> </div>ended June 30, </div><div id="a6904" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:192px;">2019,<div style="display:inline-block;width:3.56px"> </div>respectively.<div style="display:inline-block;width:7.81px"> </div>The Company had current liabilities related to the Combination,<div style="display:inline-block;width:4.95px"> </div>integration and other acquisition-related activities </div><div id="a6939" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:207.4px;">of $</div><div id="a6939_4_3" style="position:absolute;left:25.707px;top:207.4px;">8.6</div><div id="a6939_7_14" style="position:absolute;font-weight:normal;font-style:normal;left:42.347px;top:207.4px;"><div style="display:inline-block;width:3.39px"> </div>million and $</div><div id="a6939_21_3" style="position:absolute;left:116.773px;top:207.4px;">6.6</div><div id="a6939_24_107" style="position:absolute;font-weight:normal;font-style:normal;left:133.413px;top:207.4px;"><div style="display:inline-block;width:3.36px"> </div>million as of June 30, 2020, and December 31, 2019, respectively,<div style="display:inline-block;width:5.68px"> </div>primarily recorded within other accrued </div><div id="a6984" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:222.8px;">liabilities on its Condensed Consolidated Balance Sheets.</div></div><div id="TextBlockContainer32" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:558px;height:16px;display:inline-block;"><div id="a7230" 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 Norman Hay net assets acquired:</div></div><div id="TextBlockContainer35" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:331px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a7265" style="position:absolute;font-weight:bold;font-style:normal;left:472.2px;top:0px;">Measurement </div><div id="a7273" style="position:absolute;font-weight:bold;font-style:normal;left:379.56px;top:17px;">October 1, </div><div id="a7276" style="position:absolute;font-weight:bold;font-style:normal;left:492.52px;top:17px;">Period </div><div id="a7279" style="position:absolute;font-weight:bold;font-style:normal;left:568.56px;top:17px;">October 1, 2019 </div><div id="a7285" style="position:absolute;font-weight:bold;font-style:normal;left:386.76px;top:33.9px;">2019 (1) </div><div id="a7288" style="position:absolute;font-weight:bold;font-style:normal;left:475.08px;top:33.9px;">Adjustments </div><div id="a7291" style="position:absolute;font-weight:bold;font-style:normal;left:577.04px;top:33.9px;">(as adjusted) </div><div id="a7295" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:50.9px;">Cash and cash equivalents </div><div id="a7297" style="position:absolute;font-weight:normal;font-style:normal;left:364.493px;top:50.9px;">$ </div><div id="a7299" style="position:absolute;left:413.96px;top:50.9px;">18,981</div><div id="a7302" style="position:absolute;font-weight:normal;font-style:normal;left:466.44px;top:50.9px;">$ </div><div id="a7304" style="position:absolute;left:539.24px;top:50.9px;">—</div><div id="a7307" style="position:absolute;font-weight:normal;font-style:normal;left:568.56px;top:50.9px;">$ </div><div id="a7309" style="position:absolute;left:618px;top:50.9px;">18,981</div><div id="a7313" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:65.1px;">Accounts receivable, net </div><div id="a7316" style="position:absolute;left:413.96px;top:65.1px;">15,471</div><div id="a7320" style="position:absolute;left:539.24px;top:65.1px;">—</div><div id="a7324" style="position:absolute;left:618px;top:65.1px;">15,471</div><div id="a7328" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:80.2px;">Inventories, net </div><div id="a7331" style="position:absolute;left:420.52px;top:80.2px;">8,213</div><div id="a7335" style="position:absolute;left:534.28px;top:80.2px;">(49)</div><div id="a7339" style="position:absolute;left:624.56px;top:80.2px;">8,164</div><div id="a7343" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:95.2px;">Prepaid expenses and other assets </div><div id="a7346" style="position:absolute;left:420.52px;top:95.2px;">4,203</div><div id="a7350" style="position:absolute;left:539.24px;top:95.2px;">—</div><div id="a7354" style="position:absolute;left:624.56px;top:95.2px;">4,203</div><div id="a7358" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:110.3px;">Property, plant and<div style="display:inline-block;width:4.72px"> </div>equipment </div><div id="a7361" style="position:absolute;left:413.96px;top:110.3px;">14,981</div><div id="a7365" style="position:absolute;left:539.24px;top:110.3px;">—</div><div id="a7369" style="position:absolute;left:618px;top:110.3px;">14,981</div><div id="a7373" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:125.1px;">Right of use lease assets </div><div id="a7376" style="position:absolute;left:413.96px;top:125.1px;">10,608</div><div id="a7380" style="position:absolute;left:539.24px;top:125.1px;">—</div><div id="a7384" style="position:absolute;left:618px;top:125.1px;">10,608</div><div id="a7388" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:140.2px;">Intangible assets </div><div id="a7391" style="position:absolute;left:413.96px;top:140.2px;">51,088</div><div id="a7395" style="position:absolute;left:539.24px;top:140.2px;">—</div><div id="a7399" style="position:absolute;left:618px;top:140.2px;">51,088</div><div id="a7403" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:155.2px;">Goodwill </div><div id="a7406" style="position:absolute;left:413.96px;top:155.2px;">29,384</div><div id="a7410" style="position:absolute;left:532.52px;top:155.2px;">102</div><div id="a7414" style="position:absolute;left:618px;top:155.2px;">29,486</div><div id="a7419" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:170.9px;">Total assets purchased </div><div id="a7422" style="position:absolute;left:407.24px;top:170.9px;">152,929</div><div id="a7426" style="position:absolute;left:539.24px;top:170.9px;">53</div><div id="a7430" style="position:absolute;left:611.28px;top:170.9px;">152,982</div><div id="a7434" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:185.1px;">Long-term debt included current portions </div><div id="a7439" style="position:absolute;left:430.6px;top:185.1px;">485</div><div id="a7443" style="position:absolute;left:539.24px;top:185.1px;">—</div><div id="a7447" style="position:absolute;left:634.64px;top:185.1px;">485</div><div id="a7451" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:200.2px;">Accounts payable, accrued expenses and other accrued liabilities </div><div id="a7454" style="position:absolute;left:413.96px;top:200.2px;">13,488</div><div id="a7458" style="position:absolute;left:527.56px;top:200.2px;">(708)</div><div id="a7462" style="position:absolute;left:618px;top:200.2px;">12,780</div><div id="a7466" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:215.2px;">Deferred tax liabilities </div><div id="a7469" style="position:absolute;left:413.96px;top:215.2px;">12,746</div><div id="a7473" style="position:absolute;left:532.52px;top:215.2px;">927</div><div id="a7477" style="position:absolute;left:618px;top:215.2px;">13,673</div><div id="a7481" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:230.3px;">Long-term lease liabilities </div><div id="a7486" style="position:absolute;left:420.52px;top:230.3px;">8,594</div><div id="a7490" style="position:absolute;left:539.24px;top:230.3px;">—</div><div id="a7494" style="position:absolute;left:624.56px;top:230.3px;">8,594</div><div id="a7499" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:246.9px;">Total liabilities assumed </div><div id="a7502" style="position:absolute;left:413.96px;top:246.9px;">35,313</div><div id="a7506" style="position:absolute;left:532.52px;top:246.9px;">219</div><div id="a7510" style="position:absolute;left:618px;top:246.9px;">35,532</div><div id="a7515" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:263.9px;">Total consideration<div style="display:inline-block;width:4.76px"> </div>paid for Norman Hay </div><div id="a7518" style="position:absolute;left:407.24px;top:263.9px;">117,616</div><div id="a7522" style="position:absolute;left:527.56px;top:263.9px;">(166)</div><div id="a7526" style="position:absolute;left:611.28px;top:263.9px;">117,450</div><div id="a7531" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:280.9px;">Less: estimated purchase price settlement (2) </div><div id="a7534" style="position:absolute;left:420.52px;top:280.9px;">3,287</div><div id="a7538" style="position:absolute;left:517.64px;top:280.9px;">(3,287)</div><div id="a7542" style="position:absolute;left:641.36px;top:280.9px;">—</div><div id="a7547" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:297.8px;">Less: cash acquired </div><div id="a7550" style="position:absolute;left:413.96px;top:297.8px;">18,981</div><div id="a7554" style="position:absolute;left:539.24px;top:297.8px;">—</div><div id="a7558" style="position:absolute;left:618px;top:297.8px;">18,981</div><div id="a7563" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:314.9px;">Net cash paid for Norman Hay </div><div id="a7566" style="position:absolute;font-weight:normal;font-style:normal;left:364.493px;top:314.9px;">$ </div><div id="a7568" style="position:absolute;left:413.96px;top:314.9px;">95,348</div><div id="a7571" style="position:absolute;font-weight:normal;font-style:normal;left:466.44px;top:314.9px;">$ </div><div id="a7573" style="position:absolute;left:522.44px;top:314.9px;">3,121</div><div id="a7576" style="position:absolute;font-weight:normal;font-style:normal;left:568.56px;top:314.9px;">$ </div><div id="a7578" style="position:absolute;left:618px;top:314.9px;">98,469</div></div><div id="TextBlockContainer40" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:101px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_38_XBRL_TS_e11857b13ad049939ae0b89bb37b6962" style="position:absolute;left:24px;top:0px;float:left;"><div id="TextBlockContainer39" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:708px;height:47px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a7583" style="position:absolute;font-weight:normal;font-style:normal;left:28.459px;top:0px;">As previously disclosed in the Company’s<div style="display:inline-block;width:5.26px"> </div>2019 Form 10-K. </div><div id="a7603" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">(2)</div><div id="a7604" style="position:absolute;font-family:Arial;font-weight:normal;font-style:normal;left:19.947px;top:15.2px;"> </div><div id="a7605" style="position:absolute;font-weight:normal;font-style:normal;left:28.459px;top:15.4px;">The Company finalized its post-closing adjustments for the<div style="display:inline-block;width:4.63px"> </div>Norman Hay acquisition and paid approximately </div><div id="a7605_105_3" style="position:absolute;left:611.599px;top:15.4px;">2.5</div><div id="a7605_108_13" style="position:absolute;font-weight:normal;font-style:normal;left:628.239px;top:15.4px;"><div style="display:inline-block;width:3.36px"> </div>million GBP </div><div id="a7641" style="position:absolute;font-weight:normal;font-style:normal;left:28.459px;top:30.7px;">during the first quarter of 2020 to settle such adjustments.</div></div></div><div id="a7641_60_1" style="position:absolute;font-weight:normal;font-style:normal;left:360.493px;top:30.7px;"> </div><div id="a7661" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:54.1px;">As of June 30, 2020, the allocation of the purchase price<div style="display:inline-block;width:4.78px"> </div>for Norman Hay has not been finalized and the </div><div id="a7661_104_8" style="position:absolute;left:586.319px;top:54.1px;-sec-ix-hidden:ID_1106;">one-year</div><div id="a7661_112_13" style="position:absolute;font-weight:normal;font-style:normal;left:633.039px;top:54.1px;"><div style="display:inline-block;width:3.36px"> </div>measurement </div><div id="a7708" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.4px;">period has not ended.<div style="display:inline-block;width:7.24px"> </div>Further adjustments may be necessary as a result of the<div style="display:inline-block;width:4.81px"> </div>Company’s on-going assessment of<div style="display:inline-block;width:4.83px"> </div>additional </div><div id="a7749" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.8px;">information related to the fair value of assets acquired<div style="display:inline-block;width:4.86px"> </div>and liabilities assumed.</div></div>

2019-08-01

Houghton

37000000

0.03

<div id="TextBlockContainer11" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:663px;height:67px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a5279" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">Cash transferred to Houghton shareholders (a) </div><div id="a5282" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:0px;">$ </div><div id="a5284" style="position:absolute;left:611.28px;top:0px;">170,829</div><div id="a5287" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:16.6px;">Cash paid to extinguish Houghton debt obligations </div><div id="a5290" style="position:absolute;left:611.28px;top:16.6px;">702,556</div><div id="a5293" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:33.6px;">Fair value of common stock issued as consideration (b) </div><div id="a5296" style="position:absolute;left:611.28px;top:33.6px;">789,080</div><div id="a5300" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:50.6px;">Total fair value<div style="display:inline-block;width:4.67px"> </div>of consideration transferred </div><div id="a5302" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:50.6px;">$ </div><div id="a5304" style="position:absolute;left:601.36px;top:50.6px;">1,662,465</div></div><div id="TextBlockContainer15" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:707px;height:77px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a5306_1_2" style="position:absolute;font-weight:normal;font-style:normal;left:8.907px;top:0px;">a)</div><div id="a5307" style="position:absolute;font-family:Arial;font-weight:normal;font-style:normal;left:19.147px;top:-0.1px;"> </div><div id="a5308" style="position:absolute;font-weight:normal;font-style:normal;left:28.459px;top:0px;">A portion is held in escrow by a third party,<div style="display:inline-block;width:5.34px"> </div>subject to indemnification rights that lapse upon the achievement<div style="display:inline-block;width:4.86px"> </div>of certain </div><div id="a5350" style="position:absolute;font-weight:normal;font-style:normal;left:28.459px;top:15.4px;">milestones. </div><div id="a5352" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">(b)</div><div id="a5353" style="position:absolute;font-family:Arial;font-weight:normal;font-style:normal;left:19.947px;top:30.6px;"> </div><div id="a5354" style="position:absolute;font-weight:normal;font-style:normal;left:28.459px;top:30.7px;">Amount was determined based on approximately </div><div id="a5354_45_3" style="position:absolute;left:293.773px;top:30.7px;">4.3</div><div id="a5354_48_28" style="position:absolute;font-weight:normal;font-style:normal;left:310.413px;top:30.7px;"><div style="display:inline-block;width:3.36px"> </div>million shares, comprising </div><div id="a5354_76_4" style="position:absolute;left:458.92px;top:30.7px;">24.5</div><div id="a5354_80_37" style="position:absolute;font-weight:normal;font-style:normal;left:482.28px;top:30.7px;">% of the common stock of the Company </div><div id="a5390" style="position:absolute;font-weight:normal;font-style:normal;left:28.459px;top:46.1px;">immediately after the closing, and the closing price per<div style="display:inline-block;width:4.73px"> </div>share of Quaker Chemical Corporation common stock<div style="display:inline-block;width:4.57px"> </div>of $</div><div id="a5390_111_6" style="position:absolute;left:638.959px;top:46.1px;">182.27</div><div id="a5390_117_4" style="position:absolute;font-weight:normal;font-style:normal;left:675.759px;top:46.1px;"><div style="display:inline-block;width:3.2px"> </div>on </div><div id="a5428" style="position:absolute;font-weight:normal;font-style:normal;left:28.459px;top:61.4px;">August 1, 2019.</div></div>

170829000

702556000

789080000

1662465000

4300000

0.245

182.27

<div id="TextBlockContainer20" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:652px;height:380px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_18_XBRL_TS_39080e3cff4b4af7a44d146cc6495e0a" 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:652px;height:380px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a5790" style="position:absolute;font-weight:bold;font-style:normal;left:463.72px;top:0px;">Measurement </div><div id="a5798" style="position:absolute;font-weight:bold;font-style:normal;left:380.04px;top:15px;">August 1, </div><div id="a5801" style="position:absolute;font-weight:bold;font-style:normal;left:484.2px;top:15px;">Period </div><div id="a5804" style="position:absolute;font-weight:bold;font-style:normal;left:559.44px;top:15px;">August 1, 2019 </div><div id="a5810" style="position:absolute;font-weight:bold;font-style:normal;left:384.2px;top:30.1px;">2019 (1) </div><div id="a5813" style="position:absolute;font-weight:bold;font-style:normal;left:466.76px;top:30.1px;">Adjustments </div><div id="a5816" style="position:absolute;font-weight:bold;font-style:normal;left:565.04px;top:30.1px;">(as adjusted) </div><div id="a5820" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.8px;">Cash and cash equivalents </div><div id="a5822" style="position:absolute;font-weight:normal;font-style:normal;left:364.493px;top:45.8px;">$ </div><div id="a5824" style="position:absolute;left:409px;top:45.8px;">75,821</div><div id="a5827" style="position:absolute;font-weight:normal;font-style:normal;left:461.48px;top:45.8px;">$ </div><div id="a5829" style="position:absolute;left:527.4px;top:45.8px;">—</div><div id="a5832" style="position:absolute;font-weight:normal;font-style:normal;left:556.56px;top:45.8px;">$ </div><div id="a5834" style="position:absolute;left:606px;top:45.8px;">75,821</div><div id="a5838" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:60px;">Accounts receivable, net </div><div id="a5841" style="position:absolute;left:402.28px;top:60px;">178,922</div><div id="a5845" style="position:absolute;left:527.4px;top:60px;">—</div><div id="a5849" style="position:absolute;left:599.28px;top:60px;">178,922</div><div id="a5853" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:75px;">Inventories, net </div><div id="a5857" style="position:absolute;left:409px;top:75px;">95,193</div><div id="a5861" style="position:absolute;left:527.4px;top:75px;">—</div><div id="a5865" style="position:absolute;left:606px;top:75px;">95,193</div><div id="a5869" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:90.1px;">Prepaid expenses and other assets </div><div id="a5872" style="position:absolute;left:409px;top:90.1px;">10,652</div><div id="a5876" style="position:absolute;left:520.68px;top:90.1px;">314</div><div id="a5880" style="position:absolute;left:606px;top:90.1px;">10,966</div><div id="a5884" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:105.1px;">Property, plant and<div style="display:inline-block;width:4.72px"> </div>equipment </div><div id="a5888" style="position:absolute;left:402.28px;top:105.1px;">115,529</div><div id="a5892" style="position:absolute;left:522.44px;top:105.1px;">(66)</div><div id="a5896" style="position:absolute;left:599.28px;top:105.1px;">115,463</div><div id="a5900" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:120px;">Right of use lease assets </div><div id="a5903" style="position:absolute;left:409px;top:120px;">10,673</div><div id="a5907" style="position:absolute;left:527.4px;top:120px;">—</div><div id="a5911" style="position:absolute;left:606px;top:120px;">10,673</div><div id="a5915" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:135.1px;">Investments in associated companies </div><div id="a5919" style="position:absolute;left:409px;top:135.1px;">66,447</div><div id="a5923" style="position:absolute;left:527.4px;top:135.1px;">—</div><div id="a5927" style="position:absolute;left:606px;top:135.1px;">66,447</div><div id="a5931" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:150.1px;">Other non-current assets </div><div id="a5936" style="position:absolute;left:415.56px;top:150.1px;">4,710</div><div id="a5940" style="position:absolute;left:510.6px;top:150.1px;">1,553</div><div id="a5944" style="position:absolute;left:612.56px;top:150.1px;">6,263</div><div id="a5948" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:165.1px;">Intangible assets </div><div id="a5952" style="position:absolute;left:392.36px;top:165.1px;">1,028,400</div><div id="a5956" style="position:absolute;left:527.4px;top:165.1px;">—</div><div id="a5960" style="position:absolute;left:589.36px;top:165.1px;">1,028,400</div><div id="a5964" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:180px;">Goodwill </div><div id="a5967" style="position:absolute;left:402.28px;top:180px;">494,915</div><div id="a5971" style="position:absolute;left:510.6px;top:180px;">7,737</div><div id="a5975" style="position:absolute;left:599.28px;top:180px;">502,652</div><div id="a5980" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:195.7px;">Total assets purchased </div><div id="a5983" style="position:absolute;left:392.36px;top:195.7px;">2,081,262</div><div id="a5987" style="position:absolute;left:510.6px;top:195.7px;">9,538</div><div id="a5991" style="position:absolute;left:589.36px;top:195.7px;">2,090,800</div><div id="a5995" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:210.1px;">Short-term borrowings, not refinanced at closing </div><div id="a6000" style="position:absolute;left:415.56px;top:210.1px;">9,297</div><div id="a6004" style="position:absolute;left:527.4px;top:210.1px;">—</div><div id="a6008" style="position:absolute;left:612.56px;top:210.1px;">9,297</div><div id="a6012" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:226.7px;">Accounts payable, accrued expenses and other accrued<div style="display:inline-block;width:4.7px"> </div>liabilities </div><div id="a6016" style="position:absolute;left:402.28px;top:226.7px;">150,078</div><div id="a6020" style="position:absolute;left:520.68px;top:226.7px;">853</div><div id="a6024" style="position:absolute;left:599.28px;top:226.7px;">150,931</div><div id="a6028" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:243.7px;">Deferred tax liabilities </div><div id="a6031" style="position:absolute;left:402.28px;top:243.7px;">205,082</div><div id="a6035" style="position:absolute;left:510.6px;top:243.7px;">7,132</div><div id="a6039" style="position:absolute;left:599.28px;top:243.7px;">212,214</div><div id="a6043" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:260.8px;">Long-term lease liabilities </div><div id="a6049" style="position:absolute;left:415.56px;top:260.8px;">6,607</div><div id="a6053" style="position:absolute;left:527.4px;top:260.8px;">—</div><div id="a6057" style="position:absolute;left:612.56px;top:260.8px;">6,607</div><div id="a6061" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:277.8px;">Other non-current liabilities </div><div id="a6067" style="position:absolute;left:409px;top:277.8px;">47,733</div><div id="a6071" style="position:absolute;left:510.6px;top:277.8px;">1,553</div><div id="a6075" style="position:absolute;left:606px;top:277.8px;">49,286</div><div id="a6080" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:294.7px;">Total liabilities assumed </div><div id="a6083" style="position:absolute;left:402.28px;top:294.7px;">418,797</div><div id="a6087" style="position:absolute;left:510.6px;top:294.7px;">9,538</div><div id="a6091" style="position:absolute;left:599.28px;top:294.7px;">428,335</div><div id="a6096" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:311.7px;">Total consideration<div style="display:inline-block;width:4.76px"> </div>paid for Houghton </div><div id="a6099" style="position:absolute;left:392.36px;top:311.7px;">1,662,465</div><div id="a6103" style="position:absolute;left:527.4px;top:311.7px;">—</div><div id="a6107" style="position:absolute;left:589.36px;top:311.7px;">1,662,465</div><div id="a6112" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:328.9px;">Less: cash acquired </div><div id="a6115" style="position:absolute;left:409px;top:328.9px;">75,821</div><div id="a6119" style="position:absolute;left:527.4px;top:328.9px;">—</div><div id="a6123" style="position:absolute;left:606px;top:328.9px;">75,821</div><div id="a6128" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:345.8px;">Less: fair value of common stock issued as consideration </div><div id="a6132" style="position:absolute;left:402.28px;top:345.8px;">789,080</div><div id="a6136" style="position:absolute;left:527.4px;top:345.8px;">—</div><div id="a6140" style="position:absolute;left:599.28px;top:345.8px;">789,080</div><div id="a6145" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:363.7px;">Net cash paid for Houghton </div><div id="a6147" style="position:absolute;font-weight:normal;font-style:normal;left:364.493px;top:363.7px;">$ </div><div id="a6149" style="position:absolute;left:402.28px;top:363.7px;">797,564</div><div id="a6152" style="position:absolute;font-weight:normal;font-style:normal;left:461.48px;top:363.7px;">$ </div><div id="a6154" style="position:absolute;left:536.2px;top:363.7px;">-</div><div id="a6157" style="position:absolute;font-weight:normal;font-style:normal;left:556.56px;top:363.7px;">$ </div><div id="a6159" style="position:absolute;left:599.28px;top:363.7px;">797,564</div></div></div></div><div id="TextBlockContainer23" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:359px;height:16px;display:inline-block;"><div id="a6162" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">(1) As<div style="display:inline-block;width:5.23px"> </div>previously disclosed in the Company’s<div style="display:inline-block;width:5.25px"> </div>2019 Form 10-K.</div></div><div id="TextBlockContainer36" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:331px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_34_XBRL_TS_ca8dfeca248445b6b7e6f9b355aab2b6" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer35" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:331px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a7265" style="position:absolute;font-weight:bold;font-style:normal;left:472.2px;top:0px;">Measurement </div><div id="a7273" style="position:absolute;font-weight:bold;font-style:normal;left:379.56px;top:17px;">October 1, </div><div id="a7276" style="position:absolute;font-weight:bold;font-style:normal;left:492.52px;top:17px;">Period </div><div id="a7279" style="position:absolute;font-weight:bold;font-style:normal;left:568.56px;top:17px;">October 1, 2019 </div><div id="a7285" style="position:absolute;font-weight:bold;font-style:normal;left:386.76px;top:33.9px;">2019 (1) </div><div id="a7288" style="position:absolute;font-weight:bold;font-style:normal;left:475.08px;top:33.9px;">Adjustments </div><div id="a7291" style="position:absolute;font-weight:bold;font-style:normal;left:577.04px;top:33.9px;">(as adjusted) </div><div id="a7295" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:50.9px;">Cash and cash equivalents </div><div id="a7297" style="position:absolute;font-weight:normal;font-style:normal;left:364.493px;top:50.9px;">$ </div><div id="a7299" style="position:absolute;left:413.96px;top:50.9px;">18,981</div><div id="a7302" style="position:absolute;font-weight:normal;font-style:normal;left:466.44px;top:50.9px;">$ </div><div id="a7304" style="position:absolute;left:539.24px;top:50.9px;">—</div><div id="a7307" style="position:absolute;font-weight:normal;font-style:normal;left:568.56px;top:50.9px;">$ </div><div id="a7309" style="position:absolute;left:618px;top:50.9px;">18,981</div><div id="a7313" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:65.1px;">Accounts receivable, net </div><div id="a7316" style="position:absolute;left:413.96px;top:65.1px;">15,471</div><div id="a7320" style="position:absolute;left:539.24px;top:65.1px;">—</div><div id="a7324" style="position:absolute;left:618px;top:65.1px;">15,471</div><div id="a7328" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:80.2px;">Inventories, net </div><div id="a7331" style="position:absolute;left:420.52px;top:80.2px;">8,213</div><div id="a7335" style="position:absolute;left:534.28px;top:80.2px;">(49)</div><div id="a7339" style="position:absolute;left:624.56px;top:80.2px;">8,164</div><div id="a7343" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:95.2px;">Prepaid expenses and other assets </div><div id="a7346" style="position:absolute;left:420.52px;top:95.2px;">4,203</div><div id="a7350" style="position:absolute;left:539.24px;top:95.2px;">—</div><div id="a7354" style="position:absolute;left:624.56px;top:95.2px;">4,203</div><div id="a7358" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:110.3px;">Property, plant and<div style="display:inline-block;width:4.72px"> </div>equipment </div><div id="a7361" style="position:absolute;left:413.96px;top:110.3px;">14,981</div><div id="a7365" style="position:absolute;left:539.24px;top:110.3px;">—</div><div id="a7369" style="position:absolute;left:618px;top:110.3px;">14,981</div><div id="a7373" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:125.1px;">Right of use lease assets </div><div id="a7376" style="position:absolute;left:413.96px;top:125.1px;">10,608</div><div id="a7380" style="position:absolute;left:539.24px;top:125.1px;">—</div><div id="a7384" style="position:absolute;left:618px;top:125.1px;">10,608</div><div id="a7388" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:140.2px;">Intangible assets </div><div id="a7391" style="position:absolute;left:413.96px;top:140.2px;">51,088</div><div id="a7395" style="position:absolute;left:539.24px;top:140.2px;">—</div><div id="a7399" style="position:absolute;left:618px;top:140.2px;">51,088</div><div id="a7403" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:155.2px;">Goodwill </div><div id="a7406" style="position:absolute;left:413.96px;top:155.2px;">29,384</div><div id="a7410" style="position:absolute;left:532.52px;top:155.2px;">102</div><div id="a7414" style="position:absolute;left:618px;top:155.2px;">29,486</div><div id="a7419" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:170.9px;">Total assets purchased </div><div id="a7422" style="position:absolute;left:407.24px;top:170.9px;">152,929</div><div id="a7426" style="position:absolute;left:539.24px;top:170.9px;">53</div><div id="a7430" style="position:absolute;left:611.28px;top:170.9px;">152,982</div><div id="a7434" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:185.1px;">Long-term debt included current portions </div><div id="a7439" style="position:absolute;left:430.6px;top:185.1px;">485</div><div id="a7443" style="position:absolute;left:539.24px;top:185.1px;">—</div><div id="a7447" style="position:absolute;left:634.64px;top:185.1px;">485</div><div id="a7451" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:200.2px;">Accounts payable, accrued expenses and other accrued liabilities </div><div id="a7454" style="position:absolute;left:413.96px;top:200.2px;">13,488</div><div id="a7458" style="position:absolute;left:527.56px;top:200.2px;">(708)</div><div id="a7462" style="position:absolute;left:618px;top:200.2px;">12,780</div><div id="a7466" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:215.2px;">Deferred tax liabilities </div><div id="a7469" style="position:absolute;left:413.96px;top:215.2px;">12,746</div><div id="a7473" style="position:absolute;left:532.52px;top:215.2px;">927</div><div id="a7477" style="position:absolute;left:618px;top:215.2px;">13,673</div><div id="a7481" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:230.3px;">Long-term lease liabilities </div><div id="a7486" style="position:absolute;left:420.52px;top:230.3px;">8,594</div><div id="a7490" style="position:absolute;left:539.24px;top:230.3px;">—</div><div id="a7494" style="position:absolute;left:624.56px;top:230.3px;">8,594</div><div id="a7499" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:246.9px;">Total liabilities assumed </div><div id="a7502" style="position:absolute;left:413.96px;top:246.9px;">35,313</div><div id="a7506" style="position:absolute;left:532.52px;top:246.9px;">219</div><div id="a7510" style="position:absolute;left:618px;top:246.9px;">35,532</div><div id="a7515" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:263.9px;">Total consideration<div style="display:inline-block;width:4.76px"> </div>paid for Norman Hay </div><div id="a7518" style="position:absolute;left:407.24px;top:263.9px;">117,616</div><div id="a7522" style="position:absolute;left:527.56px;top:263.9px;">(166)</div><div id="a7526" style="position:absolute;left:611.28px;top:263.9px;">117,450</div><div id="a7531" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:280.9px;">Less: estimated purchase price settlement (2) </div><div id="a7534" style="position:absolute;left:420.52px;top:280.9px;">3,287</div><div id="a7538" style="position:absolute;left:517.64px;top:280.9px;">(3,287)</div><div id="a7542" style="position:absolute;left:641.36px;top:280.9px;">—</div><div id="a7547" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:297.8px;">Less: cash acquired </div><div id="a7550" style="position:absolute;left:413.96px;top:297.8px;">18,981</div><div id="a7554" style="position:absolute;left:539.24px;top:297.8px;">—</div><div id="a7558" style="position:absolute;left:618px;top:297.8px;">18,981</div><div id="a7563" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:314.9px;">Net cash paid for Norman Hay </div><div id="a7566" style="position:absolute;font-weight:normal;font-style:normal;left:364.493px;top:314.9px;">$ </div><div id="a7568" style="position:absolute;left:413.96px;top:314.9px;">95,348</div><div id="a7571" style="position:absolute;font-weight:normal;font-style:normal;left:466.44px;top:314.9px;">$ </div><div id="a7573" style="position:absolute;left:522.44px;top:314.9px;">3,121</div><div id="a7576" style="position:absolute;font-weight:normal;font-style:normal;left:568.56px;top:314.9px;">$ </div><div id="a7578" style="position:absolute;left:618px;top:314.9px;">98,469</div></div></div></div><div id="TextBlockContainer39" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:708px;height:47px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a7583" style="position:absolute;font-weight:normal;font-style:normal;left:28.459px;top:0px;">As previously disclosed in the Company’s<div style="display:inline-block;width:5.26px"> </div>2019 Form 10-K. </div><div id="a7603" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">(2)</div><div id="a7604" style="position:absolute;font-family:Arial;font-weight:normal;font-style:normal;left:19.947px;top:15.2px;"> </div><div id="a7605" style="position:absolute;font-weight:normal;font-style:normal;left:28.459px;top:15.4px;">The Company finalized its post-closing adjustments for the<div style="display:inline-block;width:4.63px"> </div>Norman Hay acquisition and paid approximately </div><div id="a7605_105_3" style="position:absolute;left:611.599px;top:15.4px;">2.5</div><div id="a7605_108_13" style="position:absolute;font-weight:normal;font-style:normal;left:628.239px;top:15.4px;"><div style="display:inline-block;width:3.36px"> </div>million GBP </div><div id="a7641" style="position:absolute;font-weight:normal;font-style:normal;left:28.459px;top:30.7px;">during the first quarter of 2020 to settle such adjustments.</div></div>

75821000

178922000

95193000

10652000

314000

10966000

115529000

-66000

115463000

10673000 0 10673000

66447000

4710000

1553000

6263000

1028400000

494915000

7737000

502652000

2081262000

9538000

2090800000

9297000

150078000

853000

150931000

205082000

7132000

212214000

6607000

47733000

1553000

49286000

418797000

9538000

428335000

1662465000 0 1662465000

75821000

789080000 0 789080000

797564000

8300000

16500000

5500000

10800000

300000 800000 900000 1700000

8600000

6600000

<div id="TextBlockContainer30" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:131px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a7000" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Norman Hay </div><div id="a7004" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.2px;">On </div><div id="a7004_3_15" style="position:absolute;left:48.139px;top:23.2px;">October 1, 2019</div><div id="a7004_18_70" style="position:absolute;font-weight:normal;font-style:normal;left:134.533px;top:23.2px;">, the Company completed its acquisition of the operating divisions<div style="display:inline-block;width:4.75px"> </div>of </div><div id="a7004_88_14" style="position:absolute;left:506.12px;top:23.2px;">Norman Hay plc</div><div id="a7004_102_19" style="position:absolute;font-weight:normal;font-style:normal;left:595.12px;top:23.2px;"><div style="display:inline-block;width:3.36px"> </div>(“Norman Hay”), a </div><div id="a7044" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.6px;">private U.K. company that provides specialty chemicals, operating<div style="display:inline-block;width:4.93px"> </div>equipment, and services to industrial end markets.<div style="display:inline-block;width:7.88px"> </div>The acquisition </div><div id="a7078" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.9px;">adds new technologies in automotive, original equipment<div style="display:inline-block;width:4.76px"> </div>manufacturer (“OEM”), and aerospace, as well as engineering expertise </div><div id="a7111" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">which is expected to strengthen the Company’s<div style="display:inline-block;width:5.28px"> </div>existing equipment solutions platform.<div style="display:inline-block;width:7.43px"> </div>The acquired Norman Hay assets and </div><div id="a7145" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.5px;">liabilities were assigned to the Global Specialty Businesses reportable<div style="display:inline-block;width:5.12px"> </div>segment.<div style="display:inline-block;width:6.85px"> </div>The original purchase price was </div><div id="a7145_114_4" style="position:absolute;left:609.36px;top:84.5px;">80.0</div><div id="a7145_118_17" style="position:absolute;font-weight:normal;font-style:normal;left:632.72px;top:84.5px;"><div style="display:inline-block;width:3.36px"> </div>million GBP,<div style="display:inline-block;width:5.03px"> </div>on </div><div id="a7184" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:99.8px;">a cash-free and debt-free basis, subject to routine and customary<div style="display:inline-block;width:4.85px"> </div>post-closing adjustments related to working capital and net </div><div id="a7226" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.2px;">indebtedness levels.</div></div>

2019-10-01

Norman Hay plc

80000000.0

18981000

15471000

8213000

-49000

8164000

4203000

14981000

10608000 0 10608000

51088000

29384000

102000

29486000

152929000

53000

152982000

485000 0 485000

13488000

-708000

12780000

12746000

927000

13673000

8594000

35313000

219000

35532000

117616000 -166000 117450000 3287000 -3287000 0

18981000

95348000

3121000

98469000

2500000

<div id="TextBlockContainer42" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:293px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a7826" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Other Acquisitions </div><div id="a7830" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">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="a7869" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.7px;">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 paid was </div><div id="a7908" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.9px;">in the form of a convertible promissory note in the amount<div style="display:inline-block;width:4.8px"> </div>of </div><div id="a7908_62_4" style="position:absolute;left:334.893px;top:53.9px;">20.0</div><div id="a7908_66_32" style="position:absolute;font-weight:normal;font-style:normal;left:358.253px;top:53.9px;"><div style="display:inline-block;width:3.36px"> </div>million DKK, or approximately $</div><div id="a7908_98_3" style="position:absolute;left:540.52px;top:53.9px;">2.9</div><div id="a7908_101_20" style="position:absolute;font-weight:normal;font-style:normal;left:557.16px;top:53.9px;"><div style="display:inline-block;width:3.36px"> </div>million, which was </div><div id="a7951" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">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="a7951_120_3" style="position:absolute;left:671.44px;top:69.3px;">0.4</div><div id="a7951_123_1" style="position:absolute;font-weight:normal;font-style:normal;left:688.24px;top:69.3px;"> </div><div id="a7987" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">million DKK, or less than $</div><div id="a7987_27_3" style="position:absolute;left:152.773px;top:84.6px;">0.1</div><div id="a7987_30_107" style="position:absolute;font-weight:normal;font-style:normal;left:169.253px;top:84.6px;"><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="a8037" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">Company allocated approximately $</div><div id="a8037_33_3" style="position:absolute;left:198.213px;top:100px;">2.4</div><div id="a8037_36_73" style="position:absolute;font-weight:normal;font-style:normal;left:214.853px;top:100px;"><div style="display:inline-block;width:3.36px"> </div>million of the purchase price to intangible assets to be amortized<div style="display:inline-block;width:4.78px"> </div>over </div><div id="a8037_109_2" style="position:absolute;left:593.04px;top:100px;">17</div><div id="a8037_111_22" style="position:absolute;font-weight:normal;font-style:normal;left:606.48px;top:100px;"><div style="display:inline-block;width:3.2px"> </div>years.<div style="display:inline-block;width:6.9px"> </div>In addition, </div><div id="a8077" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">the Company recorded approximately $</div><div id="a8077_36_3" style="position:absolute;left:216.293px;top:115.4px;">0.5</div><div id="a8077_39_93" style="position:absolute;font-weight:normal;font-style:normal;left:232.973px;top:115.4px;"><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="a8116" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.7px;">of which will be tax deductible.<div style="display:inline-block;width:7.54px"> </div>The allocation of the purchase price of TEL has not been<div style="display:inline-block;width:4.58px"> </div>finalized and the </div><div id="a8116_109_8" style="position:absolute;left:579.439px;top:130.7px;-sec-ix-hidden:ID_1115;">one-year</div><div id="a8116_117_13" style="position:absolute;font-weight:normal;font-style:normal;left:625.999px;top:130.7px;"><div style="display:inline-block;width:3.36px"> </div>measurement </div><div id="a8162" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:145.9px;">period has not ended.<div style="display:inline-block;width:7.24px"> </div>Further adjustments may be necessary as a result of the<div style="display:inline-block;width:4.81px"> </div>Company’s on-going assessment of<div style="display:inline-block;width:4.83px"> </div>additional </div><div id="a8202" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:161.3px;">information related to the fair value of assets acquired<div style="display:inline-block;width:4.86px"> </div>and liabilities assumed. </div><div id="a8226" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:184.6px;">In March 2020, the Company acquired the remaining </div><div id="a8226_50_2" style="position:absolute;left:315.693px;top:184.6px;">49</div><div id="a8226_52_68" style="position:absolute;font-weight:normal;font-style:normal;left:328.973px;top:184.6px;">% ownership interest in one of its South African affiliates,<div style="display:inline-block;width:4.76px"> </div>Quaker </div><div id="a8265" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:200px;">Chemical South Africa Limited (“QSA”) for </div><div id="a8265_42_4" style="position:absolute;left:245.933px;top:200px;">16.7</div><div id="a8265_46_32" style="position:absolute;font-weight:normal;font-style:normal;left:269.293px;top:200px;"><div style="display:inline-block;width:3.36px"> </div>million ZAR, or approximately $</div><div id="a8265_78_3" style="position:absolute;left:449.32px;top:200px;">1.0</div><div id="a8265_81_44" style="position:absolute;font-weight:normal;font-style:normal;left:466.12px;top:200px;"><div style="display:inline-block;width:3.2px"> </div>million, from its joint venture partner PQ </div><div id="a8303" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:215.4px;">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>EMEA reportable segment.<div style="display:inline-block;width:7.48px"> </div>As this acquisition was a change in an existing </div><div id="a8348" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:230.8px;">controlling ownership, the Company recorded $</div><div id="a8348_45_3" style="position:absolute;left:260.013px;top:230.8px;">0.7</div><div id="a8348_48_81" style="position:absolute;font-weight:normal;font-style:normal;left:276.813px;top:230.8px;"><div style="display:inline-block;width:3.2px"> </div>million of excess purchase price over the carrying value of<div style="display:inline-block;width:4.8px"> </div>the non-controlling </div><div id="a8386" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:246px;">interest in Capital in excess of par value.<div style="display:inline-block;width:7.81px"> </div>In 2018 the Company purchased certain formulations and product<div style="display:inline-block;width:4.69px"> </div>technology for the mining </div><div id="a8429" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:261.3px;">industry for $</div><div id="a8429_14_3" style="position:absolute;left:77.099px;top:261.3px;">1.0</div><div id="a8429_17_16" style="position:absolute;font-weight:normal;font-style:normal;left:93.893px;top:261.3px;"><div style="display:inline-block;width:3.36px"> </div>million, with $</div><div id="a8429_33_3" style="position:absolute;left:175.973px;top:261.3px;">0.5</div><div id="a8429_36_66" style="position:absolute;font-weight:normal;font-style:normal;left:192.773px;top:261.3px;"><div style="display:inline-block;width:3.2px"> </div>million of the purchase price paid at signing and the remaining<div style="display:inline-block;width:4.93px"> </div>$</div><div id="a8429_102_3" style="position:absolute;left:540.84px;top:261.3px;">0.5</div><div id="a8429_105_31" style="position:absolute;font-weight:normal;font-style:normal;left:557.64px;top:261.3px;"><div style="display:inline-block;width:3.2px"> </div>million of the purchase price </div><div id="a8475" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:276.7px;">paid during the first quarter of 2019.</div></div>

20000000.0

2900000

400000

100000

2400000

P17Y

500000

0.49

16700000

1000000.0

700000

1000000.0

500000

<div id="TextBlockContainer44" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:730px;height:564px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a8490" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 3 – Recently Issued Accounting Standards </div><div id="a8504" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:25.6px;">Recently Issued Accounting Standards<div style="display:inline-block;width:4.89px"> </div>Adopted </div><div id="a8514" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:49px;">The Financial Accounting Standards Board (“FASB”)<div style="display:inline-block;width:5.59px"> </div>issued Account Standards Update (“ASU”)</div><div id="a8535" style="position:absolute;font-size:14.72px;font-weight:normal;font-style:normal;left:550.6px;top:47.6px;"> </div><div id="a8536" style="position:absolute;font-weight:normal;font-style:normal;left:554.28px;top:49px;">2020-04, </div><div id="a8540" style="position:absolute;font-weight:normal;font-style:italic;left:605.68px;top:49px;">Reference Rate </div><div id="a8544" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:64.3px;">Reform (Topic<div style="display:inline-block;width:4.96px"> </div>848): Facilitation of the Effects of Reference<div style="display:inline-block;width:4.8px"> </div>Rate Reform on Financial Reporting</div><div id="a8571" style="position:absolute;font-weight:normal;font-style:normal;left:522.6px;top:64.3px;"><div style="display:inline-block;width:3.36px"> </div>in March 2020.<div style="display:inline-block;width:7.17px"> </div>The amendments </div><div id="a8582" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:79.5px;">provide temporary optional expedients and exceptions for<div style="display:inline-block;width:4.77px"> </div>applying GAAP to contract modifications, hedging relationships<div style="display:inline-block;width:4.79px"> </div>and other </div><div id="a8615" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:94.9px;">transactions to ease the potential accounting and financial<div style="display:inline-block;width:4.83px"> </div>reporting burden associated with transitioning away from<div style="display:inline-block;width:4.72px"> </div>reference rates </div><div id="a8650" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:110.2px;">that are expected to be discontinued, including the London<div style="display:inline-block;width:4.77px"> </div>Interbank Offered Rate (“LIBOR”).<div style="display:inline-block;width:7.61px"> </div>ASU 2020-04 is effective for the </div><div id="a8690" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:125.6px;">Company as of March 12, 2020 and generally can be<div style="display:inline-block;width:4.82px"> </div>applied through December 31, 2022.<div style="display:inline-block;width:7.23px"> </div>As of June 30, 2020, the expedients </div><div id="a8734" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:141px;">provided in ASU 2020-04 do not impact the Company;<div style="display:inline-block;width:4.64px"> </div>however, the Company will continue to<div style="display:inline-block;width:4.73px"> </div>monitor for potential impacts on its </div><div id="a8779" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:156.3px;">consolidated financial statements. </div><div id="a8785" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:179.5px;">The FASB issued<div style="display:inline-block;width:4.75px"> </div>ASU 2018-15</div><div id="a8796" style="position:absolute;font-weight:normal;font-style:italic;left:200.453px;top:179.5px;">, Customer’s<div style="display:inline-block;width:4.74px"> </div>Accounting for Implementation Costs Incurred<div style="display:inline-block;width:4.88px"> </div>in a Cloud Computing Arrangement </div><div id="a8820" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:194.9px;">That<div style="display:inline-block;width:3.48px"> </div>Is a Service Contract</div><div id="a8830" style="position:absolute;font-weight:normal;font-style:normal;left:145.253px;top:194.9px;"><div style="display:inline-block;width:3.36px"> </div>in August 2018 that clarifies the accounting for implementation<div style="display:inline-block;width:4.81px"> </div>costs incurred in a cloud computing </div><div id="a8862" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:210.3px;">arrangement under a service contract.<div style="display:inline-block;width:7.77px"> </div>This guidance generally aligns the requirements for capitalizing<div style="display:inline-block;width:4.7px"> </div>implementation costs incurred </div><div id="a8894" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:225.6px;">in a hosting arrangement under a service contract with the<div style="display:inline-block;width:4.8px"> </div>requirements for capitalizing implementation costs related<div style="display:inline-block;width:4.76px"> </div>to internal-use </div><div id="a8933" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:241px;">software.<div style="display:inline-block;width:6.99px"> </div>The guidance within this accounting standard update is effective<div style="display:inline-block;width:4.97px"> </div>for annual periods beginning after December 15, 2019 and </div><div id="a8971" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:256.3px;">should be applied either retrospectively or prospectively<div style="display:inline-block;width:4.72px"> </div>to all implementation costs incurred after the date of<div style="display:inline-block;width:4.74px"> </div>adoption.<div style="display:inline-block;width:6.69px"> </div>Early </div><div id="a9008" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:271.5px;">adoption was permitted.<div style="display:inline-block;width:7.41px"> </div>The Company adopted this standard on a prospective basis, effective<div style="display:inline-block;width:4.82px"> </div>January 1, 2020.<div style="display:inline-block;width:7.14px"> </div>There was no </div><div id="a9047" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:286.9px;">cumulative effect of adoption recorded within<div style="display:inline-block;width:4.73px"> </div>retained earnings on January 1, 2020.<div style="display:inline-block;width:3.97px"> </div></div><div id="a9072" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:310.3px;">The FASB issued<div style="display:inline-block;width:4.75px"> </div>ASU 2018-14, </div><div id="a9084" style="position:absolute;font-weight:normal;font-style:italic;left:207.173px;top:310.3px;">Disclosure Framework — Changes to<div style="display:inline-block;width:4.75px"> </div>the Disclosure Requirements<div style="display:inline-block;width:4.84px"> </div>for Defined Benefit Plans</div><div id="a9107" style="position:absolute;font-weight:normal;font-style:normal;left:706.16px;top:310.3px;"><div style="display:inline-block;width:3.36px"> </div>in </div><div id="a9110" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:325.6px;">August 2018 that modifies certain disclosure requirements<div style="display:inline-block;width:4.74px"> </div>for fair value measurements.<div style="display:inline-block;width:7.31px"> </div>The guidance removes certain disclosure </div><div id="a9142" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:341px;">requirements regarding transfers between levels of<div style="display:inline-block;width:4.7px"> </div>the fair value hierarchy as well as certain disclosures related<div style="display:inline-block;width:4.71px"> </div>to the valuation </div><div id="a9181" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:356.3px;">processes for certain fair value measurements.<div style="display:inline-block;width:7.94px"> </div>Further, the guidance added certain disclosure<div style="display:inline-block;width:4.83px"> </div>requirements including unrealized gains </div><div id="a9213" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:371.6px;">and losses and significant unobservable inputs used to<div style="display:inline-block;width:4.75px"> </div>develop certain fair value measurements.<div style="display:inline-block;width:7.39px"> </div>The guidance within this accounting </div><div id="a9250" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:386.9px;">standard update is effective for annual and<div style="display:inline-block;width:4.72px"> </div>interim periods beginning after December 15, 2019, and should<div style="display:inline-block;width:4.75px"> </div>be applied prospectively in </div><div id="a9290" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:402.3px;">the initial year of adoption or prospectively to all periods<div style="display:inline-block;width:4.65px"> </div>presented, depending on the amended disclosure requirement.<div style="display:inline-block;width:8.03px"> </div>Early </div><div id="a9327" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:417.7px;">adoption was permitted.<div style="display:inline-block;width:7.41px"> </div>The Company adopted this standard on a prospective basis, effective<div style="display:inline-block;width:4.82px"> </div>January 1, 2020.<div style="display:inline-block;width:7.14px"> </div>ASU 2018-14 </div><div id="a9367" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:433px;">addresses disclosures only and will not have an impact<div style="display:inline-block;width:4.81px"> </div>on the Company’s consolidated<div style="display:inline-block;width:4.78px"> </div>financial statements. </div><div id="a9397" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:456.2px;">The FASB issued<div style="display:inline-block;width:4.75px"> </div>ASU 2016-13, </div><div id="a9409" style="position:absolute;font-weight:normal;font-style:italic;left:207.173px;top:456.2px;">Financial Instruments - Credit Losses (Topic<div style="display:inline-block;width:5.9px"> </div>326): Measurement of Credit<div style="display:inline-block;width:4.95px"> </div>Losses on Financial </div><div id="a9436" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:471.6px;">Instruments </div><div id="a9438" style="position:absolute;font-weight:normal;font-style:normal;left:70.699px;top:471.6px;">in June 2016 related to the accounting for and disclosure of<div style="display:inline-block;width:4.77px"> </div>credit losses.<div style="display:inline-block;width:6.95px"> </div>The FASB subsequently<div style="display:inline-block;width:4.94px"> </div>issued several </div><div id="a9474" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:486.9px;">additional accounting standard updates which amended<div style="display:inline-block;width:4.72px"> </div>and clarified the guidance, but did not materially change<div style="display:inline-block;width:4.75px"> </div>the guidance or its </div><div id="a9512" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:502.3px;">applicability to the Company.<div style="display:inline-block;width:8.15px"> </div>This accounting guidance introduces a new model for<div style="display:inline-block;width:4.77px"> </div>recognizing credit losses on financial </div><div id="a9547" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:517.7px;">instruments, including customer accounts receivable,<div style="display:inline-block;width:4.72px"> </div>based on an estimate of current expected credit losses.<div style="display:inline-block;width:7.92px"> </div>The guidance within this </div><div id="a9584" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:533px;">accounting standard update is effective for annual<div style="display:inline-block;width:4.84px"> </div>and interim periods beginning after December 15, 2019.<div style="display:inline-block;width:7.97px"> </div>Early adoption was </div><div id="a9621" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:548.2px;">permitted.<div style="display:inline-block;width:7.1px"> </div>The Company did not early adopt, but did adopt the guidance in<div style="display:inline-block;width:4.82px"> </div>this accounting standard update, including all applicable </div></div><div id="TextBlockContainer46" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:176px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a9715" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">subsequent updates to this accounting guidance, as required<div style="display:inline-block;width:1.47px"> </div>,<div style="display:inline-block;width:3.24px"> </div>on a modified retrospective basis, effective January<div style="display:inline-block;width:4.83px"> </div>1, 2020.<div style="display:inline-block;width:6.76px"> </div>Adoption </div><div id="a9752" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">did not have a material impact to the Company’s<div style="display:inline-block;width:5.27px"> </div>financial statements as expected.<div style="display:inline-block;width:7.43px"> </div>However, as a result of this adoption, the Company </div><div id="a9798" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">recorded a cumulative effect of accounting change<div style="display:inline-block;width:4.86px"> </div>that resulted in an increase to its allowance for doubtful accounts<div style="display:inline-block;width:4.82px"> </div>of approximately </div><div id="a9838" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">$</div><div id="a9838_1_3" style="position:absolute;left:11.147px;top:46.1px;">1.1</div><div id="a9838_4_53" style="position:absolute;font-weight:normal;font-style:normal;left:27.947px;top:46.1px;"><div style="display:inline-block;width:3.36px"> </div>million, a decrease to deferred tax liabilities of $</div><div id="a9838_57_3" style="position:absolute;left:290.093px;top:46.1px;">0.2</div><div id="a9838_60_49" style="position:absolute;font-weight:normal;font-style:normal;left:306.893px;top:46.1px;"><div style="display:inline-block;width:3.2px"> </div>million and a decrease to retained earnings of $</div><div id="a9838_109_3" style="position:absolute;left:562.759px;top:46.1px;">0.9</div><div id="a9838_112_12" style="position:absolute;font-weight:normal;font-style:normal;left:579.439px;top:46.1px;"><div style="display:inline-block;width:3.36px"> </div>million.<div style="display:inline-block;width:6.63px"> </div></div><div id="a9882" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:68px;">In accordance with this guidance, the Company recognizes<div style="display:inline-block;width:4.8px"> </div>an allowance for credit losses reflecting the net amount expected to<div style="display:inline-block;width:4.79px"> </div>be </div><div id="a9922" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:83.4px;">collected from its financial assets, primarily trade accounts<div style="display:inline-block;width:4.8px"> </div>receivable.<div style="display:inline-block;width:6.93px"> </div>This allowance represents the portion of the receivable that the </div><div id="a9960" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:98.7px;">Company does not expect to collect over its contractual<div style="display:inline-block;width:4.73px"> </div>life, considering past events and reasonable and supportable forecasts of<div style="display:inline-block;width:4.71px"> </div>future </div><div id="a10000" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:113.9px;">economic conditions.<div style="display:inline-block;width:7.23px"> </div>The Company’s allowance for<div style="display:inline-block;width:4.74px"> </div>credit losses on its trade accounts receivable is based on<div style="display:inline-block;width:4.71px"> </div>specific collectability </div><div id="a10037" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:129.3px;">facts and circumstances for each outstanding receivable and<div style="display:inline-block;width:4.74px"> </div>customer, the aging of outstanding<div style="display:inline-block;width:4.84px"> </div>receivables and the associated </div><div id="a10071" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:144.6px;">collection risk the Company estimates for certain past due<div style="display:inline-block;width:4.89px"> </div>aging categories, and also, the general risk to all outstanding accounts </div><div id="a10112" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:160px;">receivable based on historical amounts determined to<div style="display:inline-block;width:4.63px"> </div>be uncollectible.</div></div><div id="TextBlockContainer48" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:418px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a10130" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Recently Issued Accounting Standards<div style="display:inline-block;width:4.89px"> </div>Not Yet Adopted </div><div id="a10145" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:22.9px;">The FASB<div style="display:inline-block;width:4.47px"> </div>issued ASU 2020-01,</div><div id="a10158" style="position:absolute;font-weight:normal;font-style:italic;left:203.813px;top:22.9px;"><div style="display:inline-block;width:3.36px"> </div>Investments – Equity Securities (Topic<div style="display:inline-block;width:5.13px"> </div>321), Investments – Equity Method and Joint Ventures </div><div id="a10185" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:38.3px;">(Topic<div style="display:inline-block;width:4.79px"> </div>323), and Derivatives and Hedging (Topic<div style="display:inline-block;width:5.64px"> </div>815) –Clarifying the Interactions between Topic<div style="display:inline-block;width:5.55px"> </div>321, Topic<div style="display:inline-block;width:4.77px"> </div>323, and Topic<div style="display:inline-block;width:4.85px"> </div>815</div><div id="a10224" style="position:absolute;font-weight:normal;font-style:normal;left:697.52px;top:38.3px;"><div style="display:inline-block;width:3.36px"> </div>in </div><div id="a10227" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.6px;">January 2020 clarifying the interaction among the<div style="display:inline-block;width:4.73px"> </div>accounting standards related to equity securities, equity method investments,<div style="display:inline-block;width:4.82px"> </div>and </div><div id="a10262" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68.8px;">certain derivatives.<div style="display:inline-block;width:7.32px"> </div>The new guidance, among other things, states that a company<div style="display:inline-block;width:4.8px"> </div>should consider observable transactions that require </div><div id="a10300" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.2px;">a company to either apply or discontinue the equity method<div style="display:inline-block;width:4.65px"> </div>of accounting, for the purposes of applying the fair value<div style="display:inline-block;width:4.71px"> </div>measurement </div><div id="a10342" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:99.6px;">alternative immediately before applying or upon discontinuing<div style="display:inline-block;width:4.86px"> </div>the equity method.<div style="display:inline-block;width:7.22px"> </div>The new guidance also addresses the measurement </div><div id="a10377" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:114.9px;">of certain purchased options and forward contracts used<div style="display:inline-block;width:4.82px"> </div>to acquire investments.<div style="display:inline-block;width:7.3px"> </div>The guidance within this accounting standard update </div><div id="a10414" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.3px;">is effective for annual and interim periods beginning<div style="display:inline-block;width:4.99px"> </div>after December 15, 2020 and is to be applied prospectively.<div style="display:inline-block;width:8.96px"> </div>Early adoption is </div><div id="a10457" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:145.6px;">permitted.<div style="display:inline-block;width:7.1px"> </div>The Company has not early adopted the guidance and is currently<div style="display:inline-block;width:4.8px"> </div>evaluating its implementation. </div><div id="a10488" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:166.3px;">The FASB issued<div style="display:inline-block;width:4.75px"> </div>ASU 2019-12</div><div id="a10499" style="position:absolute;font-weight:normal;font-style:italic;left:200.453px;top:166.3px;">, Income Taxes<div style="display:inline-block;width:4.92px"> </div>(Topic<div style="display:inline-block;width:4.63px"> </div>740): Simplifying the Accounting for Income Taxes</div><div id="a10520" style="position:absolute;font-weight:normal;font-style:normal;left:594.96px;top:166.3px;"><div style="display:inline-block;width:3.36px"> </div>in December 2019 to </div><div id="a10529" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:181.5px;">simplify the accounting for income taxes.<div style="display:inline-block;width:7.85px"> </div>The guidance within this accounting standard update removes<div style="display:inline-block;width:4.72px"> </div>certain exceptions, including </div><div id="a10565" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:196.8px;">the exception to the incremental approach for certain<div style="display:inline-block;width:4.75px"> </div>intra-period tax allocations, to the requirement to recognize or not<div style="display:inline-block;width:4.63px"> </div>recognize </div><div id="a10605" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:212.2px;">certain deferred tax liabilities for equity method investments<div style="display:inline-block;width:4.79px"> </div>and foreign subsidiaries, and to the general methodology<div style="display:inline-block;width:4.79px"> </div>for calculating </div><div id="a10642" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:227.6px;">income taxes in an interim period when a year-to-date<div style="display:inline-block;width:4.7px"> </div>loss exceeds the anticipated loss for the year.<div style="display:inline-block;width:8.2px"> </div>Further, the guidance simplifies </div><div id="a10689" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:242.9px;">the accounting related to franchise taxes, the step up in<div style="display:inline-block;width:4.75px"> </div>tax basis for goodwill, current and deferred tax expense, and codification </div><div id="a10731" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:258.3px;">improvements for income taxes related to employee<div style="display:inline-block;width:4.71px"> </div>stock ownership plans.<div style="display:inline-block;width:7.32px"> </div>The guidance is effective for annual and interim periods </div><div id="a10770" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:273.5px;">beginning after December 15, 2020.<div style="display:inline-block;width:7.63px"> </div>Early adoption is permitted.<div style="display:inline-block;width:7.3px"> </div>The Company has not early adopted the guidance and<div style="display:inline-block;width:4.72px"> </div>is currently </div><div id="a10813" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:288.9px;">evaluating its implementation. </div><div id="a10819" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:309.5px;">The FASB issued<div style="display:inline-block;width:4.75px"> </div>ASU 2018-13</div><div id="a10830" style="position:absolute;font-weight:normal;font-style:italic;left:200.453px;top:309.5px;">, Fair Value<div style="display:inline-block;width:5.13px"> </div>Measurement (Topic<div style="display:inline-block;width:5.36px"> </div>820):<div style="display:inline-block;width:3.58px"> </div>Disclosure Framework – Changes to the<div style="display:inline-block;width:4.75px"> </div>Disclosure </div><div id="a10858" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:324.9px;">Requirements for Fair Value<div style="display:inline-block;width:5.89px"> </div>Measurement</div><div id="a10867" style="position:absolute;font-weight:normal;font-style:normal;left:233.933px;top:324.9px;"><div style="display:inline-block;width:3.36px"> </div>in August 2018 that modifies certain disclosure requirement<div style="display:inline-block;width:1.49px"> </div>s<div style="display:inline-block;width:3.31px"> </div>for employers that sponsor </div><div id="a10893" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:340.2px;">defined benefit pension or other postretirement plans.<div style="display:inline-block;width:8.06px"> </div>The amendments in this accounting standard update remove<div style="display:inline-block;width:4.75px"> </div>disclosures that are </div><div id="a10929" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:355.6px;">no longer considered cost beneficial, clarify the specific<div style="display:inline-block;width:4.79px"> </div>requirements of certain disclosures, and add new disclosure requirements<div style="display:inline-block;width:4.78px"> </div>as </div><div id="a10966" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:370.9px;">relevant.<div style="display:inline-block;width:7.07px"> </div>The guidance within this accounting standard update is effective<div style="display:inline-block;width:4.97px"> </div>for annual periods beginning after December 15, 2020, and </div><div id="a11004" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:386.3px;">should be applied retrospectively to all periods presented.<div style="display:inline-block;width:8.06px"> </div>Early adoption is permitted.<div style="display:inline-block;width:7.29px"> </div>The Company has not early adopted the </div><div id="a11043" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:401.7px;">guidance and is currently evaluating its implementation.</div></div>

1100000

200000

900000

<div id="TextBlockContainer52" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:735px;height:207px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a11057" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 4 – Business Segments </div><div id="div_50_XBRL_TS_d73f11939beb4b85bc84ec3bf6a4fea4" style="position:absolute;left:0px;top:21.9px;float:left;"><div id="TextBlockContainer51" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:735px;height:185px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a11067" 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="a11101" 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 Company and the </div><div id="a11141" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">chief operating decision maker assess its performance.<div style="display:inline-block;width:8.04px"> </div>During the third quarter of 2019 and in connection with the Combination,<div style="display:inline-block;width:4.96px"> </div>the </div><div id="a11181" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">Company reorganized its executive management<div style="display:inline-block;width:4.8px"> </div>team to align with its new business structure, which reflects the<div style="display:inline-block;width:4.79px"> </div>method by which the </div><div id="a11222" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.5px;">chief operating decision maker of the Company assesses its performance<div style="display:inline-block;width:5.17px"> </div>and allocates its resources.<div style="display:inline-block;width:7.23px"> </div>The Company’s current </div><div id="a11256" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.7px;">reportable segment structure includes </div><div id="a11256_38_4" style="position:absolute;left:207.493px;top:76.7px;">four</div><div id="a11256_42_95" style="position:absolute;font-weight:normal;font-style:normal;left:229.773px;top:76.7px;"><div style="display:inline-block;width:3.36px"> </div>segments: (i) Americas; (ii) EMEA; (iii) Asia/Pacific; and (iv)<div style="display:inline-block;width:4.7px"> </div>Global Specialty Businesses.<div style="display:inline-block;width:3.67px"> </div></div><div id="a11290" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:92px;">The three geographic segments are composed of<div style="display:inline-block;width:4.7px"> </div>the net sales and operations in each respective region, excluding<div style="display:inline-block;width:4.78px"> </div>net sales and </div><div id="a11330" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:107.4px;">operations managed globally by the Global Specialty<div style="display:inline-block;width:4.71px"> </div>Businesses segment, which includes the Company’s<div style="display:inline-block;width:5.25px"> </div>container, metal finishing, </div><div id="a11363" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:122.8px;">mining, offshore, specialty coatings, specialty grease<div style="display:inline-block;width:4.9px"> </div>and Norman Hay businesses.<div style="display:inline-block;width:7.3px"> </div>All prior period information for Legacy Quaker </div><div id="a11397" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:138.1px;">has been recast to reflect these four segments as the Company’s<div style="display:inline-block;width:5.64px"> </div>new reportable segments.<div style="display:inline-block;width:7.25px"> </div>Prior to the Company’s<div style="display:inline-block;width:4.79px"> </div>re-segmentation </div><div id="a11437" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153.5px;">during the third quarter of 2019, the Company’s<div style="display:inline-block;width:5.26px"> </div>historical reportable segments were four geographic regions: (i)<div style="display:inline-block;width:4.8px"> </div>North America; (ii) </div><div id="a11475" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:168.8px;">EMEA; (iii) Asia/Pacific; and (iv) South America.</div></div></div></div><div id="TextBlockContainer54" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:709px;height:47px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a11489" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">Though the Company changed its reportable segments in<div style="display:inline-block;width:4.8px"> </div>the third quarter of 2019, the calculation of the reportable segments’ </div><div id="a11527" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">measures of earnings remains otherwise generally<div style="display:inline-block;width:4.69px"> </div>consistent with past practices.<div style="display:inline-block;width:7.2px"> </div>Segment operating earnings for the Company’s </div><div id="a11560" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">reportable segments are comprised of net sales less cost of goods<div style="display:inline-block;width:4.8px"> </div>sold (“COGS”) and selling, general and administrative expenses </div></div><div id="TextBlockContainer56" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:716px;height:101px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a11651" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">(“SG&A”) directly related to the respective segment’s<div style="display:inline-block;width:5.56px"> </div>product sales.<div style="display:inline-block;width:6.66px"> </div>Operating expenses not directly attributable to the<div style="display:inline-block;width:4.63px"> </div>net sales of </div><div id="a11690" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">each respective segment are not included in segment<div style="display:inline-block;width:4.61px"> </div>operating earnings, such as certain corporate and administrative<div style="display:inline-block;width:4.76px"> </div>costs, </div><div id="a11724" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Combination, integration and other acquisition-related<div style="display:inline-block;width:4.74px"> </div>expenses, and restructuring and related charges.<div style="display:inline-block;width:7.97px"> </div>Other items not specifically </div><div id="a11757" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">identified with the Company’s<div style="display:inline-block;width:4.76px"> </div>reportable segments include interest expense, net and<div style="display:inline-block;width:4.75px"> </div>other (expense) income, net. </div><div id="a11787" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:69.3px;">The following table presents information about the performance<div style="display:inline-block;width:4.82px"> </div>of the Company’s reportable segments<div style="display:inline-block;width:4.87px"> </div>for the three and six </div><div id="a11823" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">months ended June 30, 2020 and 2019:</div></div><div id="TextBlockContainer59" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:443px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a11839" style="position:absolute;font-weight:bold;font-style:normal;left:386.733px;top:0px;">Three Months Ended </div><div id="a11842" style="position:absolute;font-weight:bold;font-style:normal;left:581.84px;top:0px;">Six Months Ended </div><div id="a11846" style="position:absolute;font-weight:bold;font-style:normal;left:423.72px;top:17px;">June 30, </div><div id="a11849" style="position:absolute;font-weight:bold;font-style:normal;left:610.8px;top:17px;">June 30, </div><div id="a11853" style="position:absolute;font-weight:bold;font-style:normal;left:386.573px;top:34.4px;">2020 </div><div id="a11856" style="position:absolute;font-weight:bold;font-style:normal;left:481.64px;top:34.4px;">2019 </div><div id="a11859" style="position:absolute;font-weight:bold;font-style:normal;left:574.64px;top:34.4px;">2020 </div><div id="a11862" style="position:absolute;font-weight:bold;font-style:normal;left:667.76px;top:34.4px;">2019 </div><div id="a11864" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51.4px;">Net sales </div><div id="a11866" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11869" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11871" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11873" style="position:absolute;font-weight:normal;font-style:normal;left:463.56px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11875" style="position:absolute;font-weight:normal;font-style:normal;left:538.44px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11877" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11879" style="position:absolute;font-weight:normal;font-style:normal;left:556.52px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11881" style="position:absolute;font-weight:normal;font-style:normal;left:631.6px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11883" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11885" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11888" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:68px;">Americas </div><div id="a11890" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:68px;">$ </div><div id="a11892" style="position:absolute;left:401px;top:68px;">80,576</div><div id="a11895" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:68px;">$ </div><div id="a11897" style="position:absolute;left:496.04px;top:68px;">71,747</div><div id="a11900" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:68px;">$ </div><div id="a11902" style="position:absolute;left:582.32px;top:68px;">210,472</div><div id="a11905" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:68px;">$ </div><div id="a11907" style="position:absolute;left:675.28px;top:68px;">143,972</div><div id="a11910" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:85px;">EMEA </div><div id="a11912" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:85px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11914" style="position:absolute;left:401px;top:85px;">77,702</div><div id="a11917" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:85px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11919" style="position:absolute;left:496.04px;top:85px;">49,012</div><div id="a11922" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:85px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11924" style="position:absolute;left:582.32px;top:85px;">182,541</div><div id="a11927" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:85px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11929" style="position:absolute;left:675.28px;top:85px;">101,437</div><div id="a11932" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:102.1px;">Asia/Pacific </div><div id="a11934" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:102.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11936" style="position:absolute;left:401px;top:102.1px;">68,421</div><div id="a11939" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:102.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11941" style="position:absolute;left:496.04px;top:102.1px;">44,801</div><div id="a11944" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:102.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11946" style="position:absolute;left:582.32px;top:102.1px;">141,973</div><div id="a11949" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:102.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11951" style="position:absolute;left:682px;top:102.1px;">90,968</div><div id="a11954" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:119.1px;">Global Specialty Businesses </div><div id="a11956" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:119.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11958" style="position:absolute;left:401px;top:119.1px;">59,341</div><div id="a11961" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:119.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11963" style="position:absolute;left:496.04px;top:119.1px;">40,309</div><div id="a11966" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:119.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11968" style="position:absolute;left:582.32px;top:119.1px;">129,615</div><div id="a11971" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:119.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11973" style="position:absolute;left:682px;top:119.1px;">80,702</div><div id="a11975" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:136.8px;">Total net sales </div><div id="a11977" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:136.8px;">$ </div><div id="a11979" style="position:absolute;left:394.253px;top:136.8px;">286,040</div><div id="a11982" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:136.8px;">$ </div><div id="a11984" style="position:absolute;left:489.32px;top:136.8px;">205,869</div><div id="a11987" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:136.8px;">$ </div><div id="a11989" style="position:absolute;left:582.32px;top:136.8px;">664,601</div><div id="a11992" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:136.8px;">$ </div><div id="a11994" style="position:absolute;left:675.28px;top:136.8px;">417,079</div><div id="a12009" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:172px;">Segment operating earnings </div><div id="a12023" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:189px;">Americas </div><div id="a12025" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:189px;">$ </div><div id="a12027" style="position:absolute;left:401px;top:189px;">10,303</div><div id="a12030" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:189px;">$ </div><div id="a12032" style="position:absolute;left:496.04px;top:189px;">13,965</div><div id="a12035" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:189px;">$ </div><div id="a12037" style="position:absolute;left:589.04px;top:189px;">39,491</div><div id="a12040" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:189px;">$ </div><div id="a12042" style="position:absolute;left:682px;top:189px;">28,304</div><div id="a12045" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:206.1px;">EMEA </div><div id="a12048" style="position:absolute;left:401px;top:206.1px;">10,245</div><div id="a12052" style="position:absolute;left:502.6px;top:206.1px;">8,938</div><div id="a12056" style="position:absolute;left:589.04px;top:206.1px;">28,604</div><div id="a12060" style="position:absolute;left:682px;top:206.1px;">17,731</div><div id="a12063" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:223.1px;">Asia/Pacific </div><div id="a12066" style="position:absolute;left:401px;top:223.1px;">19,261</div><div id="a12070" style="position:absolute;left:496.04px;top:223.1px;">12,159</div><div id="a12074" style="position:absolute;left:589.04px;top:223.1px;">38,802</div><div id="a12078" style="position:absolute;left:682px;top:223.1px;">24,971</div><div id="a12081" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:240px;">Global Specialty Businesses </div><div id="a12083" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:240px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12085" style="position:absolute;left:401px;top:240px;">16,393</div><div id="a12088" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:240px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12090" style="position:absolute;left:496.04px;top:240px;">10,970</div><div id="a12093" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:240px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12095" style="position:absolute;left:589.04px;top:240px;">36,953</div><div id="a12098" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:240px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12100" style="position:absolute;left:682px;top:240px;">21,574</div><div id="a12102" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:257.3px;">Total segment operating<div style="display:inline-block;width:4.98px"> </div>earnings </div><div id="a12104" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:257.3px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12106" style="position:absolute;left:401px;top:257.3px;">56,202</div><div id="a12109" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:257.3px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12111" style="position:absolute;left:496.04px;top:257.3px;">46,032</div><div id="a12114" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:257.3px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12116" style="position:absolute;left:582.32px;top:257.3px;">143,850</div><div id="a12119" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:257.3px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12121" style="position:absolute;left:682px;top:257.3px;">92,580</div><div id="a12123" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:274.1px;">Combination, integration and other acquisition-related<div style="display:inline-block;width:4.74px"> </div>expenses </div><div id="a12128" style="position:absolute;left:402.76px;top:274.1px;">(7,995)</div><div id="a12133" style="position:absolute;left:497.8px;top:274.1px;">(4,604)</div><div id="a12137" style="position:absolute;left:584.08px;top:274.1px;">(15,873)</div><div id="a12141" style="position:absolute;left:683.76px;top:274.1px;">(9,087)</div><div id="a12143" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:291.1px;">Restructuring and related charges </div><div id="a12147" style="position:absolute;left:412.68px;top:291.1px;">(486)</div><div id="a12151" style="position:absolute;left:519.4px;top:291.1px;">—</div><div id="a12155" style="position:absolute;left:590.8px;top:291.1px;">(2,202)</div><div id="a12159" style="position:absolute;left:705.36px;top:291.1px;">—</div><div id="a12161" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:308px;">Indefinite-lived intangible asset impairment </div><div id="a12166" style="position:absolute;left:424.36px;top:308px;">—</div><div id="a12170" style="position:absolute;left:519.4px;top:308px;">—</div><div id="a12174" style="position:absolute;left:584.08px;top:308px;">(38,000)</div><div id="a12178" style="position:absolute;left:705.36px;top:308px;">—</div><div id="a12180" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:325px;">Non-operating and administrative expenses </div><div id="a12185" style="position:absolute;left:396.013px;top:325px;">(32,045)</div><div id="a12189" style="position:absolute;left:491.08px;top:325px;">(19,070)</div><div id="a12193" style="position:absolute;left:584.08px;top:325px;">(70,496)</div><div id="a12197" style="position:absolute;left:677.04px;top:325px;">(39,418)</div><div id="a12199" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:342.1px;">Depreciation of corporate assets and amortization </div><div id="a12201" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:342.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12203" style="position:absolute;left:396.013px;top:342.1px;">(13,438)</div><div id="a12206" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:342.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12208" style="position:absolute;left:497.8px;top:342.1px;">(1,827)</div><div id="a12211" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:342.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12213" style="position:absolute;left:584.08px;top:342.1px;">(27,485)</div><div id="a12216" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:342.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12218" style="position:absolute;left:683.76px;top:342.1px;">(3,715)</div><div id="a12220" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:359.4px;">Operating income (loss)<div style="display:inline-block;width:3.85px"> </div></div><div id="a12223" style="position:absolute;left:407.56px;top:359.4px;">2,238</div><div id="a12227" style="position:absolute;left:496.04px;top:359.4px;">20,531</div><div id="a12231" style="position:absolute;left:584.08px;top:359.4px;">(10,206)</div><div id="a12235" style="position:absolute;left:682px;top:359.4px;">40,360</div><div id="a12237" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:376.1px;">Other (expense) income, net </div><div id="a12240" style="position:absolute;left:412.68px;top:376.1px;">(993)</div><div id="a12244" style="position:absolute;left:519.4px;top:376.1px;">43</div><div id="a12248" style="position:absolute;left:584.08px;top:376.1px;">(22,168)</div><div id="a12252" style="position:absolute;left:693.68px;top:376.1px;">(592)</div><div id="a12254" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:393px;">Interest expense, net </div><div id="a12257" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:393px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12259" style="position:absolute;left:402.76px;top:393px;">(6,811)</div><div id="a12262" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:393px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12264" style="position:absolute;left:507.72px;top:393px;">(733)</div><div id="a12267" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:393px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12269" style="position:absolute;left:584.08px;top:393px;">(15,272)</div><div id="a12272" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:393px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12274" style="position:absolute;left:683.76px;top:393px;">(1,509)</div><div id="a12276" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:410.5px;">(Loss) income before taxes and equity in net income of </div><div id="a12290" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:427.1px;">associated companies </div><div id="a12292" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:427.1px;">$ </div><div id="a12294" style="position:absolute;left:402.76px;top:427.1px;">(5,566)</div><div id="a12297" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:427.1px;">$ </div><div id="a12299" style="position:absolute;left:496.04px;top:427.1px;">19,841</div><div id="a12302" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:427.1px;">$ </div><div id="a12304" style="position:absolute;left:584.08px;top:427.1px;">(47,646)</div><div id="a12307" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:427.1px;">$ </div><div id="a12309" style="position:absolute;left:682px;top:427.1px;">38,259</div></div><div id="TextBlockContainer62" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:720px;height:93px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a12311" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">Inter-segment revenues for the three and six months<div style="display:inline-block;width:4.76px"> </div>ended June 30, 2020 were $</div><div id="a12311_78_3" style="position:absolute;left:458.12px;top:0px;">2.4</div><div id="a12311_81_14" style="position:absolute;font-weight:normal;font-style:normal;left:474.759px;top:0px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a12311_95_3" style="position:absolute;left:549.159px;top:0px;">5.3</div><div id="a12311_98_24" style="position:absolute;font-weight:normal;font-style:normal;left:565.799px;top:0px;"><div style="display:inline-block;width:3.36px"> </div>million for Americas, $</div><div id="a12311_122_3" style="position:absolute;left:694.319px;top:0px;">5.3</div><div id="a12311_125_1" style="position:absolute;font-weight:normal;font-style:normal;left:711.119px;top:0px;"> </div><div id="a12361" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.2px;">million and $</div><div id="a12361_13_4" style="position:absolute;left:75.658px;top:15.2px;">10.8</div><div id="a12361_17_20" style="position:absolute;font-weight:normal;font-style:normal;left:99.013px;top:15.2px;"><div style="display:inline-block;width:3.36px"> </div>million for EMEA, $</div><div id="a12361_37_3" style="position:absolute;left:214.213px;top:15.2px;">0.1</div><div id="a12361_40_14" style="position:absolute;font-weight:normal;font-style:normal;left:230.893px;top:15.2px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a12361_54_3" style="position:absolute;left:305.453px;top:15.2px;">0.3</div><div id="a12361_57_32" style="position:absolute;font-weight:normal;font-style:normal;left:322.093px;top:15.2px;"><div style="display:inline-block;width:3.2px"> </div>million for Asia/Pacific, and $</div><div id="a12361_89_3" style="position:absolute;left:487.079px;top:15.2px;">1.0</div><div id="a12361_92_14" style="position:absolute;font-weight:normal;font-style:normal;left:503.879px;top:15.2px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a12361_106_3" style="position:absolute;left:578.279px;top:15.2px;">2.3</div><div id="a12361_109_20" style="position:absolute;font-weight:normal;font-style:normal;left:594.959px;top:15.2px;"><div style="display:inline-block;width:3.36px"> </div>million for Global </div><div id="a12405" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.6px;">Specialty Businesses, respectively.<div style="display:inline-block;width:8.55px"> </div>Inter-segment revenues for the three and six months<div style="display:inline-block;width:4.76px"> </div>ended June 30, 2019 were $</div><div id="a12405_115_3" style="position:absolute;left:626.959px;top:30.6px;">1.3</div><div id="a12405_118_13" style="position:absolute;font-weight:normal;font-style:normal;left:643.599px;top:30.6px;"><div style="display:inline-block;width:3.2px"> </div>million and </div><div id="a12448" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">$</div><div id="a12448_1_3" style="position:absolute;left:11.147px;top:45.9px;">2.7</div><div id="a12448_4_24" style="position:absolute;font-weight:normal;font-style:normal;left:27.947px;top:45.9px;"><div style="display:inline-block;width:3.36px"> </div>million for Americas, $</div><div id="a12448_28_3" style="position:absolute;left:156.453px;top:45.9px;">4.8</div><div id="a12448_31_14" style="position:absolute;font-weight:normal;font-style:normal;left:172.933px;top:45.9px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a12448_45_4" style="position:absolute;left:247.533px;top:45.9px;">10.1</div><div id="a12448_49_30" style="position:absolute;font-weight:normal;font-style:normal;left:270.893px;top:45.9px;"><div style="display:inline-block;width:3.2px"> </div>million for EMEA, less than $</div><div id="a12448_79_3" style="position:absolute;left:435.719px;top:45.9px;">0.1</div><div id="a12448_82_14" style="position:absolute;font-weight:normal;font-style:normal;left:452.359px;top:45.9px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a12448_96_3" style="position:absolute;left:526.759px;top:45.9px;">0.1</div><div id="a12448_99_31" style="position:absolute;font-weight:normal;font-style:normal;left:543.399px;top:45.9px;"><div style="display:inline-block;width:3.36px"> </div>million for Asia/Pacific, and </div><div id="a12497" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">$</div><div id="a12497_1_3" style="position:absolute;left:11.147px;top:61.3px;">1.3</div><div id="a12497_4_14" style="position:absolute;font-weight:normal;font-style:normal;left:27.947px;top:61.3px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a12497_18_3" style="position:absolute;left:102.373px;top:61.3px;">2.8</div><div id="a12497_21_107" style="position:absolute;font-weight:normal;font-style:normal;left:119.013px;top:61.3px;"><div style="display:inline-block;width:3.36px"> </div>million for Global Specialty Businesses, respectively.<div style="display:inline-block;width:8.79px"> </div>However, all inter-segment<div style="display:inline-block;width:4.84px"> </div>transactions have been </div><div id="a12532" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.6px;">eliminated from each reportable segment’s<div style="display:inline-block;width:5.18px"> </div>net sales and earnings for all periods presented in the above<div style="display:inline-block;width:4.75px"> </div>tables.</div></div>

<div id="TextBlockContainer51" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:735px;height:185px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a11067" 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="a11101" 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 Company and the </div><div id="a11141" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">chief operating decision maker assess its performance.<div style="display:inline-block;width:8.04px"> </div>During the third quarter of 2019 and in connection with the Combination,<div style="display:inline-block;width:4.96px"> </div>the </div><div id="a11181" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">Company reorganized its executive management<div style="display:inline-block;width:4.8px"> </div>team to align with its new business structure, which reflects the<div style="display:inline-block;width:4.79px"> </div>method by which the </div><div id="a11222" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.5px;">chief operating decision maker of the Company assesses its performance<div style="display:inline-block;width:5.17px"> </div>and allocates its resources.<div style="display:inline-block;width:7.23px"> </div>The Company’s current </div><div id="a11256" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.7px;">reportable segment structure includes </div><div id="a11256_38_4" style="position:absolute;left:207.493px;top:76.7px;">four</div><div id="a11256_42_95" style="position:absolute;font-weight:normal;font-style:normal;left:229.773px;top:76.7px;"><div style="display:inline-block;width:3.36px"> </div>segments: (i) Americas; (ii) EMEA; (iii) Asia/Pacific; and (iv)<div style="display:inline-block;width:4.7px"> </div>Global Specialty Businesses.<div style="display:inline-block;width:3.67px"> </div></div><div id="a11290" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:92px;">The three geographic segments are composed of<div style="display:inline-block;width:4.7px"> </div>the net sales and operations in each respective region, excluding<div style="display:inline-block;width:4.78px"> </div>net sales and </div><div id="a11330" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:107.4px;">operations managed globally by the Global Specialty<div style="display:inline-block;width:4.71px"> </div>Businesses segment, which includes the Company’s<div style="display:inline-block;width:5.25px"> </div>container, metal finishing, </div><div id="a11363" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:122.8px;">mining, offshore, specialty coatings, specialty grease<div style="display:inline-block;width:4.9px"> </div>and Norman Hay businesses.<div style="display:inline-block;width:7.3px"> </div>All prior period information for Legacy Quaker </div><div id="a11397" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:138.1px;">has been recast to reflect these four segments as the Company’s<div style="display:inline-block;width:5.64px"> </div>new reportable segments.<div style="display:inline-block;width:7.25px"> </div>Prior to the Company’s<div style="display:inline-block;width:4.79px"> </div>re-segmentation </div><div id="a11437" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153.5px;">during the third quarter of 2019, the Company’s<div style="display:inline-block;width:5.26px"> </div>historical reportable segments were four geographic regions: (i)<div style="display:inline-block;width:4.8px"> </div>North America; (ii) </div><div id="a11475" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:168.8px;">EMEA; (iii) Asia/Pacific; and (iv) South America.</div></div>

<div id="TextBlockContainer60" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:443px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_58_XBRL_TS_d064a6ad78bf47a78fd8b64142fe0633" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer59" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:443px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a11839" style="position:absolute;font-weight:bold;font-style:normal;left:386.733px;top:0px;">Three Months Ended </div><div id="a11842" style="position:absolute;font-weight:bold;font-style:normal;left:581.84px;top:0px;">Six Months Ended </div><div id="a11846" style="position:absolute;font-weight:bold;font-style:normal;left:423.72px;top:17px;">June 30, </div><div id="a11849" style="position:absolute;font-weight:bold;font-style:normal;left:610.8px;top:17px;">June 30, </div><div id="a11853" style="position:absolute;font-weight:bold;font-style:normal;left:386.573px;top:34.4px;">2020 </div><div id="a11856" style="position:absolute;font-weight:bold;font-style:normal;left:481.64px;top:34.4px;">2019 </div><div id="a11859" style="position:absolute;font-weight:bold;font-style:normal;left:574.64px;top:34.4px;">2020 </div><div id="a11862" style="position:absolute;font-weight:bold;font-style:normal;left:667.76px;top:34.4px;">2019 </div><div id="a11864" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51.4px;">Net sales </div><div id="a11866" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11869" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11871" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11873" style="position:absolute;font-weight:normal;font-style:normal;left:463.56px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11875" style="position:absolute;font-weight:normal;font-style:normal;left:538.44px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11877" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11879" style="position:absolute;font-weight:normal;font-style:normal;left:556.52px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11881" style="position:absolute;font-weight:normal;font-style:normal;left:631.6px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11883" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11885" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:51.4px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11888" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:68px;">Americas </div><div id="a11890" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:68px;">$ </div><div id="a11892" style="position:absolute;left:401px;top:68px;">80,576</div><div id="a11895" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:68px;">$ </div><div id="a11897" style="position:absolute;left:496.04px;top:68px;">71,747</div><div id="a11900" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:68px;">$ </div><div id="a11902" style="position:absolute;left:582.32px;top:68px;">210,472</div><div id="a11905" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:68px;">$ </div><div id="a11907" style="position:absolute;left:675.28px;top:68px;">143,972</div><div id="a11910" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:85px;">EMEA </div><div id="a11912" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:85px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11914" style="position:absolute;left:401px;top:85px;">77,702</div><div id="a11917" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:85px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11919" style="position:absolute;left:496.04px;top:85px;">49,012</div><div id="a11922" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:85px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11924" style="position:absolute;left:582.32px;top:85px;">182,541</div><div id="a11927" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:85px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11929" style="position:absolute;left:675.28px;top:85px;">101,437</div><div id="a11932" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:102.1px;">Asia/Pacific </div><div id="a11934" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:102.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11936" style="position:absolute;left:401px;top:102.1px;">68,421</div><div id="a11939" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:102.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11941" style="position:absolute;left:496.04px;top:102.1px;">44,801</div><div id="a11944" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:102.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11946" style="position:absolute;left:582.32px;top:102.1px;">141,973</div><div id="a11949" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:102.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11951" style="position:absolute;left:682px;top:102.1px;">90,968</div><div id="a11954" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:119.1px;">Global Specialty Businesses </div><div id="a11956" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:119.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11958" style="position:absolute;left:401px;top:119.1px;">59,341</div><div id="a11961" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:119.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11963" style="position:absolute;left:496.04px;top:119.1px;">40,309</div><div id="a11966" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:119.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11968" style="position:absolute;left:582.32px;top:119.1px;">129,615</div><div id="a11971" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:119.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a11973" style="position:absolute;left:682px;top:119.1px;">80,702</div><div id="a11975" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:136.8px;">Total net sales </div><div id="a11977" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:136.8px;">$ </div><div id="a11979" style="position:absolute;left:394.253px;top:136.8px;">286,040</div><div id="a11982" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:136.8px;">$ </div><div id="a11984" style="position:absolute;left:489.32px;top:136.8px;">205,869</div><div id="a11987" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:136.8px;">$ </div><div id="a11989" style="position:absolute;left:582.32px;top:136.8px;">664,601</div><div id="a11992" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:136.8px;">$ </div><div id="a11994" style="position:absolute;left:675.28px;top:136.8px;">417,079</div><div id="a12009" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:172px;">Segment operating earnings </div><div id="a12023" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:189px;">Americas </div><div id="a12025" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:189px;">$ </div><div id="a12027" style="position:absolute;left:401px;top:189px;">10,303</div><div id="a12030" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:189px;">$ </div><div id="a12032" style="position:absolute;left:496.04px;top:189px;">13,965</div><div id="a12035" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:189px;">$ </div><div id="a12037" style="position:absolute;left:589.04px;top:189px;">39,491</div><div id="a12040" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:189px;">$ </div><div id="a12042" style="position:absolute;left:682px;top:189px;">28,304</div><div id="a12045" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:206.1px;">EMEA </div><div id="a12048" style="position:absolute;left:401px;top:206.1px;">10,245</div><div id="a12052" style="position:absolute;left:502.6px;top:206.1px;">8,938</div><div id="a12056" style="position:absolute;left:589.04px;top:206.1px;">28,604</div><div id="a12060" style="position:absolute;left:682px;top:206.1px;">17,731</div><div id="a12063" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:223.1px;">Asia/Pacific </div><div id="a12066" style="position:absolute;left:401px;top:223.1px;">19,261</div><div id="a12070" style="position:absolute;left:496.04px;top:223.1px;">12,159</div><div id="a12074" style="position:absolute;left:589.04px;top:223.1px;">38,802</div><div id="a12078" style="position:absolute;left:682px;top:223.1px;">24,971</div><div id="a12081" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:240px;">Global Specialty Businesses </div><div id="a12083" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:240px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12085" style="position:absolute;left:401px;top:240px;">16,393</div><div id="a12088" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:240px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12090" style="position:absolute;left:496.04px;top:240px;">10,970</div><div id="a12093" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:240px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12095" style="position:absolute;left:589.04px;top:240px;">36,953</div><div id="a12098" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:240px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12100" style="position:absolute;left:682px;top:240px;">21,574</div><div id="a12102" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:257.3px;">Total segment operating<div style="display:inline-block;width:4.98px"> </div>earnings </div><div id="a12104" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:257.3px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12106" style="position:absolute;left:401px;top:257.3px;">56,202</div><div id="a12109" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:257.3px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12111" style="position:absolute;left:496.04px;top:257.3px;">46,032</div><div id="a12114" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:257.3px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12116" style="position:absolute;left:582.32px;top:257.3px;">143,850</div><div id="a12119" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:257.3px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12121" style="position:absolute;left:682px;top:257.3px;">92,580</div><div id="a12123" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:274.1px;">Combination, integration and other acquisition-related<div style="display:inline-block;width:4.74px"> </div>expenses </div><div id="a12128" style="position:absolute;left:402.76px;top:274.1px;">(7,995)</div><div id="a12133" style="position:absolute;left:497.8px;top:274.1px;">(4,604)</div><div id="a12137" style="position:absolute;left:584.08px;top:274.1px;">(15,873)</div><div id="a12141" style="position:absolute;left:683.76px;top:274.1px;">(9,087)</div><div id="a12143" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:291.1px;">Restructuring and related charges </div><div id="a12147" style="position:absolute;left:412.68px;top:291.1px;">(486)</div><div id="a12151" style="position:absolute;left:519.4px;top:291.1px;">—</div><div id="a12155" style="position:absolute;left:590.8px;top:291.1px;">(2,202)</div><div id="a12159" style="position:absolute;left:705.36px;top:291.1px;">—</div><div id="a12161" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:308px;">Indefinite-lived intangible asset impairment </div><div id="a12166" style="position:absolute;left:424.36px;top:308px;">—</div><div id="a12170" style="position:absolute;left:519.4px;top:308px;">—</div><div id="a12174" style="position:absolute;left:584.08px;top:308px;">(38,000)</div><div id="a12178" style="position:absolute;left:705.36px;top:308px;">—</div><div id="a12180" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:325px;">Non-operating and administrative expenses </div><div id="a12185" style="position:absolute;left:396.013px;top:325px;">(32,045)</div><div id="a12189" style="position:absolute;left:491.08px;top:325px;">(19,070)</div><div id="a12193" style="position:absolute;left:584.08px;top:325px;">(70,496)</div><div id="a12197" style="position:absolute;left:677.04px;top:325px;">(39,418)</div><div id="a12199" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:342.1px;">Depreciation of corporate assets and amortization </div><div id="a12201" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:342.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12203" style="position:absolute;left:396.013px;top:342.1px;">(13,438)</div><div id="a12206" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:342.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12208" style="position:absolute;left:497.8px;top:342.1px;">(1,827)</div><div id="a12211" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:342.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12213" style="position:absolute;left:584.08px;top:342.1px;">(27,485)</div><div id="a12216" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:342.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12218" style="position:absolute;left:683.76px;top:342.1px;">(3,715)</div><div id="a12220" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:359.4px;">Operating income (loss)<div style="display:inline-block;width:3.85px"> </div></div><div id="a12223" style="position:absolute;left:407.56px;top:359.4px;">2,238</div><div id="a12227" style="position:absolute;left:496.04px;top:359.4px;">20,531</div><div id="a12231" style="position:absolute;left:584.08px;top:359.4px;">(10,206)</div><div id="a12235" style="position:absolute;left:682px;top:359.4px;">40,360</div><div id="a12237" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:376.1px;">Other (expense) income, net </div><div id="a12240" style="position:absolute;left:412.68px;top:376.1px;">(993)</div><div id="a12244" style="position:absolute;left:519.4px;top:376.1px;">43</div><div id="a12248" style="position:absolute;left:584.08px;top:376.1px;">(22,168)</div><div id="a12252" style="position:absolute;left:693.68px;top:376.1px;">(592)</div><div id="a12254" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:393px;">Interest expense, net </div><div id="a12257" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:393px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12259" style="position:absolute;left:402.76px;top:393px;">(6,811)</div><div id="a12262" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:393px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12264" style="position:absolute;left:507.72px;top:393px;">(733)</div><div id="a12267" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:393px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12269" style="position:absolute;left:584.08px;top:393px;">(15,272)</div><div id="a12272" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:393px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a12274" style="position:absolute;left:683.76px;top:393px;">(1,509)</div><div id="a12276" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:410.5px;">(Loss) income before taxes and equity in net income of </div><div id="a12290" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:427.1px;">associated companies </div><div id="a12292" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:427.1px;">$ </div><div id="a12294" style="position:absolute;left:402.76px;top:427.1px;">(5,566)</div><div id="a12297" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:427.1px;">$ </div><div id="a12299" style="position:absolute;left:496.04px;top:427.1px;">19,841</div><div id="a12302" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:427.1px;">$ </div><div id="a12304" style="position:absolute;left:584.08px;top:427.1px;">(47,646)</div><div id="a12307" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:427.1px;">$ </div><div id="a12309" style="position:absolute;left:682px;top:427.1px;">38,259</div></div></div></div>

80576000

71747000

210472000

143972000

77702000

49012000

182541000

101437000

68421000

44801000

141973000

90968000

59341000

40309000

129615000

80702000

286040000

205869000

664601000

417079000

10303000 13965000 39491000 28304000 10245000 8938000 28604000 17731000 19261000 12159000 38802000 24971000 16393000 10970000 36953000 21574000 56202000 46032000 143850000 92580000

7995000

4604000

15873000

9087000

486000

2202000

38000000

32045000 19070000 70496000 39418000

13438000

1827000

27485000

3715000

2238000

20531000

-10206000

40360000

-993000

43000

-22168000

-592000

-6811000

-733000

-15272000

-1509000

-5566000

19841000

-47646000

38259000

2400000

5300000

10800000

100000

300000

1000000.0

2300000

1300000

2700000

4800000

10100000

100000

1300000

2800000

<div id="TextBlockContainer64" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:720px;height:190px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a12567" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 5 – Net Sales and Revenue Recognition </div><div id="a12583" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:25.6px;">Business Description </div><div id="a12587" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:51.2px;">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="a12621" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:66.6px;">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>The </div><div id="a12651" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:82px;">Combination increased the Company’s<div style="display:inline-block;width:5.06px"> </div>addressable metalworking, metals and industrial end markets, including<div style="display:inline-block;width:4.9px"> </div>steel, aluminum, </div><div id="a12679" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:97.2px;">aerospace, defense, transportation-OEM, transportation<div style="display:inline-block;width:1.48px"> </div>-components, offshore sub-sea energy,<div style="display:inline-block;width:5.56px"> </div>architectural aluminum, construction, </div><div id="a12706" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:112.5px;">tube and pipe, can and container,<div style="display:inline-block;width:4.77px"> </div>mining, specialty coatings and specialty greases.<div style="display:inline-block;width:7.89px"> </div>The Combination also strengthened the product </div><div id="a12743" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:127.9px;">portfolio of the combined Company.<div style="display:inline-block;width:8.44px"> </div>The major product lines of Quaker Houghton include metal remo<div style="display:inline-block;width:1.46px"> </div>val fluids, cleaning fluids, </div><div id="a12780" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:143.2px;">corrosion inhibitors, metal drawing and forming fluids, die<div style="display:inline-block;width:4.8px"> </div>cast mold releases, heat treatment and quenchants, metal forging<div style="display:inline-block;width:4.89px"> </div>fluids, </div><div id="a12816" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:158.6px;">hydraulic fluids, specialty greases, offshore<div style="display:inline-block;width:4.82px"> </div>sub-sea energy control fluids, rolling lubricants, rod<div style="display:inline-block;width:4.72px"> </div>and wire drawing fluids and surface </div><div id="a12855" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:174px;">treatment chemicals. </div></div><div id="TextBlockContainer70" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:846px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a12913" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">A substantial portion of the Company’s<div style="display:inline-block;width:5.01px"> </div>sales worldwide are made directly through its own employees<div style="display:inline-block;width:4.81px"> </div>and its Fluidcare programs, </div><div id="a12952" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">with the balance being handled through distributors and<div style="display:inline-block;width:4.72px"> </div>agents.<div style="display:inline-block;width:6.75px"> </div>The Company’s employees typically<div style="display:inline-block;width:4.86px"> </div>visit the plants of customers </div><div id="a12988" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">regularly, work<div style="display:inline-block;width:4.62px"> </div>on site, and, through training and experience, identify production<div style="display:inline-block;width:4.75px"> </div>needs which can be resolved or otherwise addressed </div><div id="a13027" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">either by adapting the Company’s<div style="display:inline-block;width:4.95px"> </div>existing products or by applying new formulations developed<div style="display:inline-block;width:4.7px"> </div>in its laboratories.<div style="display:inline-block;width:7.08px"> </div>The specialty </div><div id="a13063" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">chemical industry comprises many companies similar in<div style="display:inline-block;width:4.7px"> </div>size to the Company,<div style="display:inline-block;width:4.77px"> </div>as well as companies larger and smaller than Quaker </div><div id="a13103" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.6px;">Houghton.<div style="display:inline-block;width:7.11px"> </div>The offerings of many of the Company’s<div style="display:inline-block;width:5.18px"> </div>competitors differ from those of Quaker Houghton;<div style="display:inline-block;width:4.8px"> </div>some offer a broad portfolio </div><div id="a13144" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:92px;">of fluids, including general lubricants, while others have<div style="display:inline-block;width:4.72px"> </div>a more specialized product range.<div style="display:inline-block;width:7.44px"> </div>All competitors provide different levels of </div><div id="a13182" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:107.4px;">technical services to individual customers.<div style="display:inline-block;width:7.7px"> </div>Competition in the industry is based primarily on the ability to<div style="display:inline-block;width:4.71px"> </div>provide products that meet </div><div id="a13224" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:122.7px;">the needs of the customer, render<div style="display:inline-block;width:4.78px"> </div>technical services and laboratory assistance to the customer and,<div style="display:inline-block;width:4.96px"> </div>to a lesser extent, on price.<div style="display:inline-block;width:3.83px"> </div></div><div id="div_66_XBRL_TS_14cc8891283441a89fb20db3467f41d0" style="position:absolute;left:0px;top:145.9px;float:left;"><div id="TextBlockContainer67" 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="a13267" 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="a13308" 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 style="display:inline-block;width:3.61px"> </div></div><div id="a13352" 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="a13401" 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="a13401_35_95" style="position:absolute;font-weight:normal;font-style:normal;left:201.573px;top:192px;"><div style="display:inline-block;width:6.56px"> </div>In determining whether the Company is acting as a principal<div style="display:inline-block;width:4.78px"> </div>or an agent in each arrangement, </div><div id="a13445" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:207.4px;">the Company considers whether it is primarily responsible<div style="display:inline-block;width:4.77px"> </div>for the obligation to provide the specified good, has inventory<div style="display:inline-block;width:4.69px"> </div>risk before </div><div id="a13486" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:222.8px;">the specified good has been transferred to the customer<div style="display:inline-block;width:4.72px"> </div>and has discretion in establishing the prices for the specified<div style="display:inline-block;width:4.72px"> </div>goods.<div style="display:inline-block;width:6.87px"> </div>The </div><div id="a13528" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:238px;">Company transferred third-party products under arrangements<div style="display:inline-block;width:4.74px"> </div>recognized on a net reporting basis of $</div><div id="a13528_100_3" style="position:absolute;left:550.12px;top:238px;">6.2</div><div id="a13528_103_14" style="position:absolute;font-weight:normal;font-style:normal;left:566.76px;top:238px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a13528_117_4" style="position:absolute;left:641.2px;top:238px;">18.7</div><div id="a13528_121_9" style="position:absolute;font-weight:normal;font-style:normal;left:664.56px;top:238px;"><div style="display:inline-block;width:3.36px"> </div>million </div><div id="a13567" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:253.3px;">for the three and six months ended June 30, 2020,<div style="display:inline-block;width:4.75px"> </div>respectively, and $</div><div id="a13567_69_4" style="position:absolute;left:373.933px;top:253.3px;">10.4</div><div id="a13567_73_14" style="position:absolute;font-weight:normal;font-style:normal;left:397.293px;top:253.3px;"><div style="display:inline-block;width:3.39px"> </div>million and $</div><div id="a13567_87_4" style="position:absolute;left:471.719px;top:253.3px;">20.8</div><div id="a13567_91_44" style="position:absolute;font-weight:normal;font-style:normal;left:495.08px;top:253.3px;"><div style="display:inline-block;width:3.36px"> </div>million for the three and six months ended </div><div id="a13618" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:268.7px;">June 30, 2019,<div style="display:inline-block;width:3.85px"> </div>respectively. </div><div id="a13627" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:292px;">A significant portion of the Company’s<div style="display:inline-block;width:5.11px"> </div>revenues are realized from the sale of process fluids and services<div style="display:inline-block;width:4.8px"> </div>to manufacturers of </div><div id="a13667" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:307.4px;">steel, aluminum, automobiles, aircraft, industrial equipment,<div style="display:inline-block;width:4.65px"> </div>and durable goods, and, therefore, the Company is subject<div style="display:inline-block;width:4.83px"> </div>to the same </div><div id="a13703" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:322.6px;">business cycles as those experienced by these manufacturers and<div style="display:inline-block;width:4.87px"> </div>their customers.<div style="display:inline-block;width:7.04px"> </div>The Company’s financial performance<div style="display:inline-block;width:4.83px"> </div>is generally </div><div id="a13738" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:338px;">correlated to the volume of global production within the<div style="display:inline-block;width:4.8px"> </div>industries it serves, rather than discretely related to the financial performance </div><div id="a13778" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:353.3px;">of such industries.<div style="display:inline-block;width:7.18px"> </div>Furthermore, steel and aluminum customers typically have<div style="display:inline-block;width:4.82px"> </div>limited manufacturing locations compared to </div><div id="a13809" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:368.7px;">metalworking customers and generally use higher<div style="display:inline-block;width:4.61px"> </div>volumes of products at a single location.<div style="display:inline-block;width:7.73px"> </div>As previously disclosed in its 2019 Form </div><div id="a13849" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:384px;">10-K, during<div style="display:inline-block;width:3.75px"> </div>2019, the Company’s five<div style="display:inline-block;width:4.71px"> </div>largest customers (each composed of multiple subsidiaries or<div style="display:inline-block;width:4.78px"> </div>divisions with semiautonomous </div><div id="a13886" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:399.4px;">purchasing authority) accounted for approximately </div><div id="a13886_50_2" style="position:absolute;left:278.893px;top:399.4px;">12</div><div id="a13886_52_70" style="position:absolute;font-weight:normal;font-style:normal;left:292.333px;top:399.4px;">% of consolidated net sales, with its largest customer<div style="display:inline-block;width:4.83px"> </div>accounting for </div><div id="a13918" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:414.8px;">approximately </div><div id="a13918_14_1" style="position:absolute;left:84.939px;top:414.8px;">6</div><div id="a13918_15_29" style="position:absolute;font-weight:normal;font-style:normal;left:91.659px;top:414.8px;">% of consolidated net sales. </div><div id="a13931" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:438px;">Revenue Recognition Model </div><div id="div_68_XBRL_TS_10ad752367e649ee83efd41f350801fa" style="position:absolute;left:0px;top:461.3px;float:left;"><div id="TextBlockContainer69" 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="a13937" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The Company applies the FASB’s<div style="display:inline-block;width:5.61px"> </div>guidance on revenue recognition which requires the<div style="display:inline-block;width:4.82px"> </div>Company to recognize revenue in an </div><div id="a13973" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">amount that reflects the consideration to which the Company<div style="display:inline-block;width:4.75px"> </div>expects to be entitled in exchange for goods or services transferred<div style="display:inline-block;width:5.01px"> </div>to its </div><div id="a14018" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">customers.<div style="display:inline-block;width:7.03px"> </div>To do this, the Company<div style="display:inline-block;width:4.92px"> </div>applies the five-step model in the FASB’s<div style="display:inline-block;width:5.73px"> </div>guidance, which requires the Company to: (i) identify </div><div id="a14062" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">the contract with a customer; (ii) identify the performance<div style="display:inline-block;width:4.76px"> </div>obligations in the contract; (iii) determine the transaction price;<div style="display:inline-block;width:4.71px"> </div>(iv) allocate </div><div id="a14103" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">the transaction price to the performance obligations in the<div style="display:inline-block;width:4.78px"> </div>contract; and (v) recognize revenue when, or as, the Company<div style="display:inline-block;width:4.92px"> </div>satisfies a </div><div id="a14145" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.6px;">performance obligation.</div></div></div><div id="a14145_23_1" style="position:absolute;font-weight:normal;font-style:normal;left:132.613px;top:538px;"> </div><div id="a14149" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:561.3px;">The Company identifies a contract with a customer when a<div style="display:inline-block;width:4.74px"> </div>sales agreement indicates approval and commitment of the parties; </div><div id="a14187" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:576.7px;">identifies the rights of the parties; identifies the payment<div style="display:inline-block;width:4.83px"> </div>terms; has commercial substance; and it is probable<div style="display:inline-block;width:4.46px"> </div>that the Company will </div><div id="a14230" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:592.1px;">collect the consideration to which it will be entitled in<div style="display:inline-block;width:4.72px"> </div>exchange for the goods or services that will be transferred to<div style="display:inline-block;width:4.75px"> </div>the customer.<div style="display:inline-block;width:7.75px"> </div>In </div><div id="a14278" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:607.3px;">most instances, the Company’s<div style="display:inline-block;width:4.8px"> </div>contract with a customer is the customer’s<div style="display:inline-block;width:4.73px"> </div>purchase order.<div style="display:inline-block;width:7.68px"> </div>For certain customers, the Company may </div><div id="a14316" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:622.6px;">also enter into a sales agreement which outlines a<div style="display:inline-block;width:4.55px"> </div>framework of terms and conditions which apply to all future<div style="display:inline-block;width:4.71px"> </div>and subsequent </div><div id="a14358" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:638px;">purchase orders for that customer.<div style="display:inline-block;width:8.34px"> </div>In these situations, the Company’s<div style="display:inline-block;width:4.82px"> </div>contract with the customer is both the sales agreement as well as </div><div id="a14403" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:653.3px;">the specific customer purchase order.<div style="display:inline-block;width:8.35px"> </div>Because the Company’s contract<div style="display:inline-block;width:4.91px"> </div>with a customer is typically for a single transaction or </div><div id="a14442" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:668.7px;">customer purchase order, the duration<div style="display:inline-block;width:4.71px"> </div>of the contract is almost always one year or less.<div style="display:inline-block;width:7.78px"> </div>As a result, the Company has elected to apply </div><div id="a14490" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:684.1px;">certain practical expedients and omit certain disclosures of<div style="display:inline-block;width:4.8px"> </div>remaining performance obligations for contracts that have an<div style="display:inline-block;width:4.58px"> </div>initial term of </div><div id="a14529" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:699.5px;">one year or less as permitted by the FASB. </div><div id="a14547" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:722.7px;">The Company identifies a performance obligation in a<div style="display:inline-block;width:4.7px"> </div>contract for each promised good or service that is separately identifiable </div><div id="a14585" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:738px;">from other obligations in the contract and for which the<div style="display:inline-block;width:4.77px"> </div>customer can benefit from the good or service either on its own or together </div><div id="a14633" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:753.4px;">with other resources that are readily available to<div style="display:inline-block;width:4.7px"> </div>the customer.<div style="display:inline-block;width:7.59px"> </div>The Company determines the transaction price as the amount<div style="display:inline-block;width:4.73px"> </div>of </div><div id="a14674" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:768.7px;">consideration it expects to be entitled to in exchange<div style="display:inline-block;width:4.64px"> </div>for fulfilling the performance obligations, including the<div style="display:inline-block;width:4.76px"> </div>effects of any variable </div><div id="a14714" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:784.1px;">consideration, significant financing elements, amounts<div style="display:inline-block;width:4.76px"> </div>payable to the customer or noncash consideration.<div style="display:inline-block;width:7.74px"> </div>For any contracts that have </div><div id="a14749" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:799.3px;">more than one performance obligation, the Company<div style="display:inline-block;width:4.77px"> </div>allocates the transaction price to each performance obligation<div style="display:inline-block;width:4.79px"> </div>in an amount that </div><div id="a14787" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:814.7px;">depicts the amount of consideration to which the Company<div style="display:inline-block;width:4.82px"> </div>expects to be entitled in exchange for satisfying each performance </div><div id="a14826" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:830px;">obligation. </div></div><div id="TextBlockContainer72" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:608px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a14881" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">In accordance with the last step of the FASB’s<div style="display:inline-block;width:6.05px"> </div>guidance, the Company recognizes revenue when,<div style="display:inline-block;width:4.78px"> </div>or as, it satisfies the </div><div id="a14922" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">performance obligation in a contract by transferring control<div style="display:inline-block;width:4.85px"> </div>of a promised good or providing the service to the customer.<div style="display:inline-block;width:8.7px"> </div>The </div><div id="a14962" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Company recognizes revenue over time as the customer<div style="display:inline-block;width:4.82px"> </div>receives and consumes the benefits provided by the Company’s<div style="display:inline-block;width:5.39px"> </div>performance; </div><div id="a14999" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">the Company’s performance<div style="display:inline-block;width:4.93px"> </div>creates or enhances an asset that the customer controls as the<div style="display:inline-block;width:4.57px"> </div>asset is created or enhanced; or the </div><div id="a15041" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">Company’s performance<div style="display:inline-block;width:4.79px"> </div>does not create an asset with an alternative use to the entity,<div style="display:inline-block;width:5.62px"> </div>and the entity has an enforceable right to </div><div id="a15085" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.6px;">payment, including a profit margin, for performance<div style="display:inline-block;width:4.98px"> </div>completed to date.<div style="display:inline-block;width:7.08px"> </div>For performance obligations not satisfied over time, the </div><div id="a15121" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:92px;">Company determines the point in time at which a customer<div style="display:inline-block;width:4.62px"> </div>obtains control of an asset and the Company satisfies a perf<div style="display:inline-block;width:1.34px"> </div>ormance </div><div id="a15164" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:107.4px;">obligation by considering when the Company has a right<div style="display:inline-block;width:4.71px"> </div>to payment for the asset; the customer has legal title to the<div style="display:inline-block;width:4.74px"> </div>asset; the </div><div id="a15210" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:122.7px;">Company has transferred physical possession of the asset; the<div style="display:inline-block;width:4.73px"> </div>customer has the significant risks and rewards of ownership<div style="display:inline-block;width:4.72px"> </div>of the asset; </div><div id="a15253" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:138.1px;">or the customer has accepted the asset. </div><div id="a15267" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:161.3px;">The Company typically satisfies its performance obligations<div style="display:inline-block;width:4.75px"> </div>and recognizes revenue at a point in time for product<div style="display:inline-block;width:4.73px"> </div>sales, generally </div><div id="a15306" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:176.6px;">when products are shipped or delivered to the customer,<div style="display:inline-block;width:5.24px"> </div>depending on the terms underlying each arrangement.<div style="display:inline-block;width:8.04px"> </div>In circumstances </div><div id="a15342" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:192px;">where the Company’s<div style="display:inline-block;width:4.7px"> </div>products are on consignment, revenue is generally recognized<div style="display:inline-block;width:4.68px"> </div>upon usage or consumption by the customer.<div style="display:inline-block;width:8.48px"> </div>For </div><div id="a15381" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:207.4px;">any Fluidcare or other services provided by the Company<div style="display:inline-block;width:4.79px"> </div>to the customer, the Company typically satisfies its<div style="display:inline-block;width:4.82px"> </div>performance obligations </div><div id="a15419" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:222.8px;">and recognizes revenue over time, as the promised services<div style="display:inline-block;width:4.73px"> </div>are performed.<div style="display:inline-block;width:7.15px"> </div>The Company uses input methods to recognize revenue </div><div id="a15458" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:238px;">over time related to these services, including labor costs<div style="display:inline-block;width:4.71px"> </div>and time incurred.<div style="display:inline-block;width:7.21px"> </div>The Company believes that these input methods represent </div><div id="a15498" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:253.3px;">the most indicative measure of the Fluidcare or other service<div style="display:inline-block;width:4.7px"> </div>work performed by the Company. </div><div id="a15528" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:276.7px;">Other Considerations </div><div id="a15532" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:300px;">The Company does not have standard payment terms for<div style="display:inline-block;width:4.89px"> </div>all customers;<div style="display:inline-block;width:3.5px"> </div>however the Company’s general<div style="display:inline-block;width:4.88px"> </div>payment terms require </div><div id="a15569" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:315.4px;">customers to pay for products or services provided after<div style="display:inline-block;width:4.7px"> </div>the performance obligation is satisfied.<div style="display:inline-block;width:7.54px"> </div>The Company does not have </div><div id="a15608" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:330.6px;">significant financing arrangements with its customers.<div style="display:inline-block;width:7.93px"> </div>The Company does not have significant amounts of variable<div style="display:inline-block;width:4.75px"> </div>consideration in </div><div id="a15642" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:346px;">its contracts with customers and where applicable,<div style="display:inline-block;width:4.71px"> </div>the Company’s estimates of variable<div style="display:inline-block;width:4.7px"> </div>consideration are not constrained.<div style="display:inline-block;width:7.38px"> </div>The </div><div id="a15677" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:361.3px;">Company records certain third-party license fees in<div style="display:inline-block;width:4.57px"> </div>other (expense) income, net, in its Condensed Consolidated<div style="display:inline-block;width:4.8px"> </div>Statements of </div><div id="a15713" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:376.7px;">Operations,<div style="display:inline-block;width:3.72px"> </div>which generally include sales-based royalties in exchange for<div style="display:inline-block;width:4.76px"> </div>the license of intellectual property.<div style="display:inline-block;width:8.32px"> </div>These license fees are </div><div id="a15752" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:392px;">recognized in accordance with their agreed-upon<div style="display:inline-block;width:4.71px"> </div>terms and when performance obligations are satisfied, which<div style="display:inline-block;width:4.71px"> </div>is generally when the </div><div id="a15790" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:407.4px;">third party has a subsequent sale. </div><div id="a15802" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:430.8px;">Practical Expedients and Accounting Policy Elections </div><div id="a15814" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:454px;">The Company has made certain accounting policy<div style="display:inline-block;width:4.7px"> </div>elections and elected to use certain practical expedients as permitted<div style="display:inline-block;width:4.81px"> </div>by the </div><div id="a15852" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:469.3px;">FASB in applying<div style="display:inline-block;width:4.83px"> </div>the guidance on revenue recognition.<div style="display:inline-block;width:7.5px"> </div>It is the Company’s policy<div style="display:inline-block;width:4.82px"> </div>to not adjust the promised amount of </div><div id="a15892" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:484.7px;">consideration for the effects of a significant<div style="display:inline-block;width:4.74px"> </div>financing component as the Company expects, at contract<div style="display:inline-block;width:4.73px"> </div>inception, that the period </div><div id="a15930" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:500.1px;">between when the Company transfers a promised good or service<div style="display:inline-block;width:4.89px"> </div>to the customer and when the customer pays for that good<div style="display:inline-block;width:4.81px"> </div>or service </div><div id="a15977" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:515.4px;">will be one year or less.<div style="display:inline-block;width:7.35px"> </div>In addition, it is the Company’s<div style="display:inline-block;width:4.73px"> </div>policy to expense costs to obtain a contract as incurred<div style="display:inline-block;width:4.73px"> </div>when the expected </div><div id="a16027" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:530.6px;">period of benefit, and therefore the amortization period,<div style="display:inline-block;width:4.77px"> </div>is one year or less.<div style="display:inline-block;width:7px"> </div>It is also the Company’s accounting<div style="display:inline-block;width:4.97px"> </div>policy to exclude </div><div id="a16071" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:546px;">from the measurement of the transaction price all<div style="display:inline-block;width:4.71px"> </div>taxes assessed by a governmental authority that are both imposed<div style="display:inline-block;width:4.72px"> </div>on and concurrent </div><div id="a16113" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:561.3px;">with a specific revenue-producing transaction and<div style="display:inline-block;width:4.7px"> </div>collected by the entity from a customer, including<div style="display:inline-block;width:4.9px"> </div>sales, use, value added, excise </div><div id="a16154" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:576.7px;">and various other taxes.<div style="display:inline-block;width:7.35px"> </div>Lastly, the Company<div style="display:inline-block;width:4.76px"> </div>has elected to account for shipping and handling activities that occur<div style="display:inline-block;width:4.84px"> </div>after the customer </div><div id="a16196" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:592.1px;">has obtained control of a good as a fulfilment cost rather than<div style="display:inline-block;width:4.74px"> </div>an additional promised service.</div></div><div id="TextBlockContainer78" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:247px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a16230" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Contract Assets and Liabilities </div><div id="div_74_XBRL_TS_57754f80f0ea4154bb5a496eea516564" style="position:absolute;left:0px;top:23.2px;float:left;"><div id="TextBlockContainer75" 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="a16238" 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="a16272" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">provides a good or service in advance of receiving consideration.<div style="display:inline-block;width:8.26px"> </div>A receivable is the Company’s<div style="display:inline-block;width:4.7px"> </div>right to consideration that is </div><div id="a16312" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">unconditional and only the passage of time is required<div style="display:inline-block;width:4.73px"> </div>before payment of that consideration is due.<div style="display:inline-block;width:7.72px"> </div>A contract asset is the Company’s </div><div id="a16356" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">right to consideration in exchange for goods or services<div style="display:inline-block;width:4.72px"> </div>that the Company has transferred to a customer.</div></div></div><div id="a16356_104_18" style="position:absolute;font-weight:normal;font-style:normal;left:559.559px;top:69.3px;"><div style="display:inline-block;width:6.72px"> </div>The Company had </div><div id="a16356_122_2" style="position:absolute;left:668.239px;top:69.3px;">no</div><div id="a16356_124_1" style="position:absolute;font-weight:normal;font-style:normal;left:681.519px;top:69.3px;"> </div><div id="a16399" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.7px;">material contract assets recorded on its Condensed Consolidated<div style="display:inline-block;width:4.76px"> </div>Balance Sheets as of June 30, 2020 or December 31,<div style="display:inline-block;width:4.74px"> </div>2019.<div style="display:inline-block;width:3.24px"> </div></div><div id="div_76_XBRL_TS_8d1c0f42ad394efb9af399fdf9547821" style="position:absolute;left:0px;top:107.9px;float:left;"><div id="TextBlockContainer77" 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="a16439" 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="a16478" 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="a16518" 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="a16559" 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="a16593" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.4px;">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="a16625" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.8px;">Company’s Condensed<div style="display:inline-block;width:4.71px"> </div>Consolidated Balance Sheets.</div></div></div><div id="a16625_48_33" style="position:absolute;font-weight:normal;font-style:normal;left:289.933px;top:184.7px;"><div style="display:inline-block;width:6.72px"> </div>The Company had approximately $</div><div id="a16625_81_3" style="position:absolute;left:485.64px;top:184.7px;">3.2</div><div id="a16625_84_14" style="position:absolute;font-weight:normal;font-style:normal;left:502.28px;top:184.7px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a16625_98_3" style="position:absolute;left:576.72px;top:184.7px;">2.2</div><div id="a16625_101_21" style="position:absolute;font-weight:normal;font-style:normal;left:593.52px;top:184.7px;"><div style="display:inline-block;width:3.36px"> </div>million of deferred </div><div id="a16659" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:199.9px;">revenue as of June 30, 2020 and December 31, 2019,<div style="display:inline-block;width:4.72px"> </div>respectively.<div style="display:inline-block;width:7.79px"> </div>During the six months ended June 30, 2020,<div style="display:inline-block;width:4.4px"> </div>the Company satisfied </div><div id="a16707" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:215.2px;">all of the associated performance obligations and recognized<div style="display:inline-block;width:4.88px"> </div>into revenue the advanced payments received and recorded<div style="display:inline-block;width:4.69px"> </div>as of </div><div id="a16744" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:230.6px;">December 31, 2019.</div></div><div id="TextBlockContainer80" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:201px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a16805" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Disaggregated Revenue </div><div id="a16809" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">The Company sells its various industrial process fluids,<div style="display:inline-block;width:4.77px"> </div>its specialty chemicals and its technical expertise as a global<div style="display:inline-block;width:4.58px"> </div>product </div><div id="a16847" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.7px;">portfolio.<div style="display:inline-block;width:7.04px"> </div>The Company generally manages and evaluates its performance<div style="display:inline-block;width:4.77px"> </div>by segment first, and then by customer industry,<div style="display:inline-block;width:5.37px"> </div>rather than </div><div id="a16885" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.9px;">by individual product lines.<div style="display:inline-block;width:7.41px"> </div>The Company has provided annual net sales information by<div style="display:inline-block;width:4.66px"> </div>major product lines that represent </div><div id="a16921" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">approximately 10% or more of consolidated net sales in its 2019<div style="display:inline-block;width:5.01px"> </div>Form 10-K, and those annual percentages are generally consistent </div><div id="a16965" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">with the current quarter’s net sales by product<div style="display:inline-block;width:4.87px"> </div>line.<div style="display:inline-block;width:6.69px"> </div>Also, net sales of each of the Company’s<div style="display:inline-block;width:4.77px"> </div>major product lines are generally spread </div><div id="a17011" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">throughout all three of the Company’s<div style="display:inline-block;width:5.07px"> </div>geographic regions, and in most cases, approximately proportionate<div style="display:inline-block;width:4.86px"> </div>to the level of total sales in </div><div id="a17053" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">each region.<div style="display:inline-block;width:3.62px"> </div></div><div id="a17058" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:138.7px;">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="a17092" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153.9px;">revenue recognized for the three and six months ended<div style="display:inline-block;width:4.7px"> </div>June 30, 2020 and 2019.<div style="display:inline-block;width:7.31px"> </div>The Company has made certain reclassifications of </div><div id="a17134" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:169.3px;">disaggregated customer industry disclosures for the<div style="display:inline-block;width:4.71px"> </div>three and six months ended June 30, 2020 to conform with<div style="display:inline-block;width:4.73px"> </div>the Company’s current </div><div id="a17176" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:184.6px;">period customer industry segmentation.</div></div><div id="TextBlockContainer84" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:237px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_82_XBRL_TS_43f51b4a4250448299c1a96d9b13264b" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer83" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:237px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a17185" style="position:absolute;font-weight:bold;font-style:normal;left:390.733px;top:0px;">Three Months Ended June 30, 2020 </div><div id="a17196" style="position:absolute;font-weight:bold;font-style:normal;left:630.48px;top:16.8px;">Consolidated </div><div id="a17199" style="position:absolute;font-weight:bold;font-style:normal;left:288.813px;top:31.2px;">Americas </div><div id="a17202" style="position:absolute;font-weight:bold;font-style:normal;left:413.8px;top:31.2px;">EMEA </div><div id="a17205" style="position:absolute;font-weight:bold;font-style:normal;left:518.12px;top:31.2px;">Asia/Pacific </div><div id="a17208" style="position:absolute;font-weight:bold;font-style:normal;left:652.72px;top:31.2px;">Total </div><div id="a17210" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:47.7px;">Customer Industries </div><div id="a17223" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64.7px;">Metals </div><div id="a17225" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:65.5px;">$ </div><div id="a17227" style="position:absolute;left:326.413px;top:65.5px;">32,687</div><div id="a17230" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:65.5px;">$ </div><div id="a17232" style="position:absolute;left:444.52px;top:65.5px;">24,924</div><div id="a17235" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:65.5px;">$ </div><div id="a17237" style="position:absolute;left:562.44px;top:65.5px;">35,416</div><div id="a17240" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:65.5px;">$ </div><div id="a17242" style="position:absolute;left:678.48px;top:65.5px;">93,027</div><div id="a17244" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.6px;">Metalworking and other </div><div id="a17247" style="position:absolute;left:326.413px;top:82.6px;">47,889</div><div id="a17251" style="position:absolute;left:444.52px;top:82.6px;">52,778</div><div id="a17255" style="position:absolute;left:562.44px;top:82.6px;">33,005</div><div id="a17259" style="position:absolute;left:671.76px;top:82.6px;">133,672</div><div id="a17263" style="position:absolute;left:326.413px;top:99.6px;">80,576</div><div id="a17267" style="position:absolute;left:444.52px;top:99.6px;">77,702</div><div id="a17271" style="position:absolute;left:562.44px;top:99.6px;">68,421</div><div id="a17275" style="position:absolute;left:671.76px;top:99.6px;">226,699</div><div id="a17277" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:116.5px;">Global Specialty Businesses </div><div id="a17280" style="position:absolute;left:326.413px;top:116.5px;">32,294</div><div id="a17284" style="position:absolute;left:444.52px;top:116.5px;">15,569</div><div id="a17288" style="position:absolute;left:562.44px;top:116.5px;">11,478</div><div id="a17292" style="position:absolute;left:678.48px;top:116.5px;">59,341</div><div id="a17295" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:134.6px;">$ </div><div id="a17297" style="position:absolute;left:319.693px;top:133.5px;">112,870</div><div id="a17300" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:134.6px;">$ </div><div id="a17302" style="position:absolute;left:444.52px;top:133.5px;">93,271</div><div id="a17305" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:134.6px;">$ </div><div id="a17307" style="position:absolute;left:562.44px;top:133.5px;">79,899</div><div id="a17310" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:134.6px;">$ </div><div id="a17312" style="position:absolute;left:671.76px;top:133.5px;">286,040</div><div id="a17326" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:168.7px;">Timing of Revenue Recognized </div><div id="a17339" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:185.6px;">Product sales at a point in time </div><div id="a17341" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:186.6px;">$ </div><div id="a17343" style="position:absolute;left:319.693px;top:186.6px;">108,644</div><div id="a17346" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:186.6px;">$ </div><div id="a17348" style="position:absolute;left:444.52px;top:186.6px;">87,995</div><div id="a17351" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:186.6px;">$ </div><div id="a17353" style="position:absolute;left:562.44px;top:186.6px;">78,195</div><div id="a17356" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:186.6px;">$ </div><div id="a17358" style="position:absolute;left:671.76px;top:186.6px;">274,834</div><div id="a17360" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:202.8px;">Services transferred over time </div><div id="a17363" style="position:absolute;left:332.973px;top:203.6px;">4,226</div><div id="a17367" style="position:absolute;left:451.08px;top:203.6px;">5,276</div><div id="a17371" style="position:absolute;left:569px;top:203.6px;">1,704</div><div id="a17375" style="position:absolute;left:678.48px;top:203.6px;">11,206</div><div id="a17378" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:221.5px;">$ </div><div id="a17380" style="position:absolute;left:319.693px;top:220.5px;">112,870</div><div id="a17383" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:221.5px;">$ </div><div id="a17385" style="position:absolute;left:444.52px;top:220.5px;">93,271</div><div id="a17388" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:221.5px;">$ </div><div id="a17390" style="position:absolute;left:562.44px;top:220.5px;">79,899</div><div id="a17393" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:221.5px;">$ </div><div id="a17395" style="position:absolute;left:671.76px;top:220.5px;">286,040</div></div></div></div><div id="TextBlockContainer87" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:237px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a17399" style="position:absolute;font-weight:bold;font-style:normal;left:390.733px;top:0px;">Three Months Ended June 30, 2019 </div><div id="a17410" style="position:absolute;font-weight:bold;font-style:normal;left:630.48px;top:16.8px;">Consolidated </div><div id="a17413" style="position:absolute;font-weight:bold;font-style:normal;left:288.813px;top:31.2px;">Americas </div><div id="a17416" style="position:absolute;font-weight:bold;font-style:normal;left:413.8px;top:31.2px;">EMEA </div><div id="a17419" style="position:absolute;font-weight:bold;font-style:normal;left:518.12px;top:31.2px;">Asia/Pacific </div><div id="a17422" style="position:absolute;font-weight:bold;font-style:normal;left:652.72px;top:31.2px;">Total </div><div id="a17424" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:47.7px;">Customer Industries </div><div id="a17437" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64.6px;">Metals </div><div id="a17439" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:65.6px;">$ </div><div id="a17441" style="position:absolute;left:326.413px;top:65.6px;">39,506</div><div id="a17444" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:65.6px;">$ </div><div id="a17446" style="position:absolute;left:444.52px;top:65.6px;">24,485</div><div id="a17449" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:65.6px;">$ </div><div id="a17451" style="position:absolute;left:562.44px;top:65.6px;">28,391</div><div id="a17454" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:65.6px;">$ </div><div id="a17456" style="position:absolute;left:678.48px;top:65.6px;">92,382</div><div id="a17458" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.8px;">Metalworking and other </div><div id="a17461" style="position:absolute;left:326.413px;top:82.6px;">32,241</div><div id="a17465" style="position:absolute;left:444.52px;top:82.6px;">24,527</div><div id="a17469" style="position:absolute;left:562.44px;top:82.6px;">16,410</div><div id="a17473" style="position:absolute;left:678.48px;top:82.6px;">73,178</div><div id="a17477" style="position:absolute;left:326.413px;top:99.5px;">71,747</div><div id="a17481" style="position:absolute;left:444.52px;top:99.5px;">49,012</div><div id="a17485" style="position:absolute;left:562.44px;top:99.5px;">44,801</div><div id="a17489" style="position:absolute;left:671.76px;top:99.5px;">165,560</div><div id="a17491" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:116.5px;">Global Specialty Businesses </div><div id="a17494" style="position:absolute;left:326.413px;top:116.5px;">31,145</div><div id="a17498" style="position:absolute;left:451.08px;top:116.5px;">4,138</div><div id="a17502" style="position:absolute;left:569px;top:116.5px;">5,026</div><div id="a17506" style="position:absolute;left:678.48px;top:116.5px;">40,309</div><div id="a17509" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:134.6px;">$ </div><div id="a17511" style="position:absolute;left:319.693px;top:133.6px;">102,892</div><div id="a17514" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:134.6px;">$ </div><div id="a17516" style="position:absolute;left:444.52px;top:133.6px;">53,150</div><div id="a17519" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:134.6px;">$ </div><div id="a17521" style="position:absolute;left:562.44px;top:133.6px;">49,827</div><div id="a17524" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:134.6px;">$ </div><div id="a17526" style="position:absolute;left:671.76px;top:133.6px;">205,869</div><div id="a17540" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:168.6px;">Timing of Revenue Recognized </div><div id="a17553" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:185.8px;">Product sales at a point in time </div><div id="a17555" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:186.6px;">$ </div><div id="a17557" style="position:absolute;left:319.693px;top:186.6px;">100,053</div><div id="a17560" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:186.6px;">$ </div><div id="a17562" style="position:absolute;left:444.52px;top:186.6px;">53,098</div><div id="a17565" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:186.6px;">$ </div><div id="a17567" style="position:absolute;left:562.44px;top:186.6px;">48,406</div><div id="a17570" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:186.6px;">$ </div><div id="a17572" style="position:absolute;left:671.76px;top:186.6px;">201,557</div><div id="a17574" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:202.8px;">Services transferred over time </div><div id="a17577" style="position:absolute;left:332.973px;top:203.6px;">2,839</div><div id="a17581" style="position:absolute;left:467.88px;top:203.6px;">52</div><div id="a17585" style="position:absolute;left:569px;top:203.6px;">1,421</div><div id="a17589" style="position:absolute;left:685.04px;top:203.6px;">4,312</div><div id="a17592" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:221.6px;">$ </div><div id="a17594" style="position:absolute;left:319.693px;top:220.5px;">102,892</div><div id="a17597" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:221.6px;">$ </div><div id="a17599" style="position:absolute;left:444.52px;top:220.5px;">53,150</div><div id="a17602" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:221.6px;">$ </div><div id="a17604" style="position:absolute;left:562.44px;top:220.5px;">49,827</div><div id="a17607" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:221.6px;">$ </div><div id="a17609" style="position:absolute;left:671.76px;top:220.5px;">205,869</div></div><div id="TextBlockContainer92" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:237px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_90_XBRL_TS_7fe1438acf704b80a13dec2774db7b64" 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:724px;height:237px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a17666" style="position:absolute;font-weight:bold;font-style:normal;left:398.76px;top:0px;">Six Months Ended June 30, 2020 </div><div id="a17678" style="position:absolute;font-weight:bold;font-style:normal;left:630.48px;top:16.8px;">Consolidated </div><div id="a17681" style="position:absolute;font-weight:bold;font-style:normal;left:288.813px;top:31.2px;">Americas </div><div id="a17684" style="position:absolute;font-weight:bold;font-style:normal;left:413.8px;top:31.2px;">EMEA </div><div id="a17687" style="position:absolute;font-weight:bold;font-style:normal;left:518.12px;top:31.2px;">Asia/Pacific </div><div id="a17690" style="position:absolute;font-weight:bold;font-style:normal;left:652.72px;top:31.2px;">Total </div><div id="a17692" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:47.4px;">Customer Industries </div><div id="a17705" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64px;">Metals </div><div id="a17707" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:64.8px;">$ </div><div id="a17709" style="position:absolute;left:326.413px;top:64.8px;">79,360</div><div id="a17712" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:64.8px;">$ </div><div id="a17714" style="position:absolute;left:444.52px;top:64.8px;">54,812</div><div id="a17717" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:64.8px;">$ </div><div id="a17719" style="position:absolute;left:562.44px;top:64.8px;">77,005</div><div id="a17722" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:64.8px;">$ </div><div id="a17724" style="position:absolute;left:671.76px;top:64.8px;">211,177</div><div id="a17726" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81px;">Metalworking and other </div><div id="a17729" style="position:absolute;left:319.693px;top:81.9px;">131,112</div><div id="a17733" style="position:absolute;left:437.8px;top:81.9px;">127,729</div><div id="a17737" style="position:absolute;left:562.44px;top:81.9px;">64,968</div><div id="a17741" style="position:absolute;left:671.76px;top:81.9px;">323,809</div><div id="a17745" style="position:absolute;left:319.693px;top:98.9px;">210,472</div><div id="a17749" style="position:absolute;left:437.8px;top:98.9px;">182,541</div><div id="a17753" style="position:absolute;left:555.72px;top:98.9px;">141,973</div><div id="a17757" style="position:absolute;left:671.76px;top:98.9px;">534,986</div><div id="a17759" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:115.8px;">Global Specialty Businesses </div><div id="a17762" style="position:absolute;left:326.413px;top:115.8px;">76,525</div><div id="a17766" style="position:absolute;left:444.52px;top:115.8px;">32,174</div><div id="a17770" style="position:absolute;left:562.44px;top:115.8px;">20,916</div><div id="a17774" style="position:absolute;left:671.76px;top:115.8px;">129,615</div><div id="a17777" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:133.9px;">$ </div><div id="a17779" style="position:absolute;left:319.693px;top:132.8px;">286,997</div><div id="a17782" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:133.9px;">$ </div><div id="a17784" style="position:absolute;left:437.8px;top:132.8px;">214,715</div><div id="a17787" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:133.9px;">$ </div><div id="a17789" style="position:absolute;left:555.72px;top:132.8px;">162,889</div><div id="a17792" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:133.9px;">$ </div><div id="a17794" style="position:absolute;left:671.76px;top:132.8px;">664,601</div><div id="a17808" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:168px;">Timing of Revenue Recognized </div><div id="a17821" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:185px;">Product sales at a point in time </div><div id="a17823" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:185.9px;">$ </div><div id="a17825" style="position:absolute;left:319.693px;top:185.9px;">277,446</div><div id="a17828" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:185.9px;">$ </div><div id="a17830" style="position:absolute;left:437.8px;top:185.9px;">206,418</div><div id="a17833" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:185.9px;">$ </div><div id="a17835" style="position:absolute;left:555.72px;top:185.9px;">159,351</div><div id="a17838" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:185.9px;">$ </div><div id="a17840" style="position:absolute;left:671.76px;top:185.9px;">643,215</div><div id="a17842" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:202.1px;">Services transferred over time </div><div id="a17845" style="position:absolute;left:332.973px;top:202.9px;">9,551</div><div id="a17849" style="position:absolute;left:451.08px;top:202.9px;">8,297</div><div id="a17853" style="position:absolute;left:569px;top:202.9px;">3,538</div><div id="a17857" style="position:absolute;left:678.48px;top:202.9px;">21,386</div><div id="a17860" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:220.8px;">$ </div><div id="a17862" style="position:absolute;left:319.693px;top:219.9px;">286,997</div><div id="a17865" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:220.8px;">$ </div><div id="a17867" style="position:absolute;left:437.8px;top:219.9px;">214,715</div><div id="a17870" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:220.8px;">$ </div><div id="a17872" style="position:absolute;left:555.72px;top:219.9px;">162,889</div><div id="a17875" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:220.8px;">$ </div><div id="a17877" style="position:absolute;left:671.76px;top:219.9px;">664,601</div></div></div></div><div id="TextBlockContainer95" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:237px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a17881" style="position:absolute;font-weight:bold;font-style:normal;left:398.76px;top:0px;">Six Months Ended June 30, 2019 </div><div id="a17893" style="position:absolute;font-weight:bold;font-style:normal;left:630.48px;top:16.8px;">Consolidated </div><div id="a17896" style="position:absolute;font-weight:bold;font-style:normal;left:288.813px;top:31.2px;">Americas </div><div id="a17899" style="position:absolute;font-weight:bold;font-style:normal;left:413.8px;top:31.2px;">EMEA </div><div id="a17902" style="position:absolute;font-weight:bold;font-style:normal;left:518.12px;top:31.2px;">Asia/Pacific </div><div id="a17905" style="position:absolute;font-weight:bold;font-style:normal;left:652.72px;top:31.2px;">Total </div><div id="a17907" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:47.7px;">Customer Industries </div><div id="a17920" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64.6px;">Metals </div><div id="a17922" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:65.6px;">$ </div><div id="a17924" style="position:absolute;left:326.413px;top:64.6px;">80,431</div><div id="a17927" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:65.6px;">$ </div><div id="a17929" style="position:absolute;left:444.52px;top:64.6px;">49,201</div><div id="a17932" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:65.6px;">$ </div><div id="a17934" style="position:absolute;left:562.44px;top:64.6px;">57,604</div><div id="a17937" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:65.6px;">$ </div><div id="a17939" style="position:absolute;left:671.76px;top:64.6px;">187,236</div><div id="a17941" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.8px;">Metalworking and other </div><div id="a17944" style="position:absolute;left:326.413px;top:81.8px;">63,541</div><div id="a17948" style="position:absolute;left:444.52px;top:81.8px;">52,236</div><div id="a17952" style="position:absolute;left:562.44px;top:81.8px;">33,364</div><div id="a17956" style="position:absolute;left:671.76px;top:81.8px;">149,141</div><div id="a17960" style="position:absolute;left:319.693px;top:99px;">143,972</div><div id="a17964" style="position:absolute;left:437.8px;top:99px;">101,437</div><div id="a17968" style="position:absolute;left:562.44px;top:99px;">90,968</div><div id="a17972" style="position:absolute;left:671.76px;top:99px;">336,377</div><div id="a17974" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:116.5px;">Global Specialty Businesses </div><div id="a17977" style="position:absolute;left:326.413px;top:115.7px;">63,315</div><div id="a17981" style="position:absolute;left:451.08px;top:115.7px;">8,001</div><div id="a17985" style="position:absolute;left:569px;top:115.7px;">9,386</div><div id="a17989" style="position:absolute;left:678.48px;top:115.7px;">80,702</div><div id="a17992" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:134.6px;">$ </div><div id="a17994" style="position:absolute;left:319.693px;top:133.6px;">207,287</div><div id="a17997" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:134.6px;">$ </div><div id="a17999" style="position:absolute;left:437.8px;top:133.6px;">109,438</div><div id="a18002" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:134.6px;">$ </div><div id="a18004" style="position:absolute;left:555.72px;top:133.6px;">100,354</div><div id="a18007" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:134.6px;">$ </div><div id="a18009" style="position:absolute;left:671.76px;top:133.6px;">417,079</div><div id="a18023" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:168.6px;">Timing of Revenue Recognized </div><div id="a18036" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:185.8px;">Product sales at a point in time </div><div id="a18038" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:186.6px;">$ </div><div id="a18040" style="position:absolute;left:319.693px;top:185.8px;">201,600</div><div id="a18043" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:186.6px;">$ </div><div id="a18045" style="position:absolute;left:437.8px;top:185.8px;">109,332</div><div id="a18048" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:186.6px;">$ </div><div id="a18050" style="position:absolute;left:562.44px;top:185.8px;">97,057</div><div id="a18053" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:186.6px;">$ </div><div id="a18055" style="position:absolute;left:671.76px;top:185.8px;">407,989</div><div id="a18057" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:202.7px;">Services transferred over time </div><div id="a18060" style="position:absolute;left:332.973px;top:202.7px;">5,687</div><div id="a18064" style="position:absolute;left:461.16px;top:202.7px;">106</div><div id="a18068" style="position:absolute;left:569px;top:202.7px;">3,297</div><div id="a18072" style="position:absolute;left:685.04px;top:202.7px;">9,090</div><div id="a18075" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:221.6px;">$ </div><div id="a18077" style="position:absolute;left:319.693px;top:220.5px;">207,287</div><div id="a18080" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:221.6px;">$ </div><div id="a18082" style="position:absolute;left:437.8px;top:220.5px;">109,438</div><div id="a18085" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:221.6px;">$ </div><div id="a18087" style="position:absolute;left:555.72px;top:220.5px;">100,354</div><div id="a18090" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:221.6px;">$ </div><div id="a18092" style="position:absolute;left:671.76px;top:220.5px;">417,079</div></div>

<div id="TextBlockContainer67" 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="a13267" 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="a13308" 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 style="display:inline-block;width:3.61px"> </div></div><div id="a13352" 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="a13401" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">the Company for ordering the goods.</div></div>

6200000 18700000 10400000 20800000

0.12

0.06

<div id="TextBlockContainer69" 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="a13937" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The Company applies the FASB’s<div style="display:inline-block;width:5.61px"> </div>guidance on revenue recognition which requires the<div style="display:inline-block;width:4.82px"> </div>Company to recognize revenue in an </div><div id="a13973" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">amount that reflects the consideration to which the Company<div style="display:inline-block;width:4.75px"> </div>expects to be entitled in exchange for goods or services transferred<div style="display:inline-block;width:5.01px"> </div>to its </div><div id="a14018" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">customers.<div style="display:inline-block;width:7.03px"> </div>To do this, the Company<div style="display:inline-block;width:4.92px"> </div>applies the five-step model in the FASB’s<div style="display:inline-block;width:5.73px"> </div>guidance, which requires the Company to: (i) identify </div><div id="a14062" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">the contract with a customer; (ii) identify the performance<div style="display:inline-block;width:4.76px"> </div>obligations in the contract; (iii) determine the transaction price;<div style="display:inline-block;width:4.71px"> </div>(iv) allocate </div><div id="a14103" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">the transaction price to the performance obligations in the<div style="display:inline-block;width:4.78px"> </div>contract; and (v) recognize revenue when, or as, the Company<div style="display:inline-block;width:4.92px"> </div>satisfies a </div><div id="a14145" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.6px;">performance obligation.</div></div><div id="TextBlockContainer75" 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="a16238" 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="a16272" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">provides a good or service in advance of receiving consideration.<div style="display:inline-block;width:8.26px"> </div>A receivable is the Company’s<div style="display:inline-block;width:4.7px"> </div>right to consideration that is </div><div id="a16312" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">unconditional and only the passage of time is required<div style="display:inline-block;width:4.73px"> </div>before payment of that consideration is due.<div style="display:inline-block;width:7.72px"> </div>A contract asset is the Company’s </div><div id="a16356" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">right to consideration in exchange for goods or services<div style="display:inline-block;width:4.72px"> </div>that the Company has transferred to a customer.</div></div><div id="TextBlockContainer77" 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="a16439" 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="a16478" 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="a16518" 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="a16559" 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="a16593" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.4px;">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="a16625" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.8px;">Company’s Condensed<div style="display:inline-block;width:4.71px"> </div>Consolidated Balance Sheets.</div></div>

3200000

2200000

<div id="TextBlockContainer83" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:237px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a17185" style="position:absolute;font-weight:bold;font-style:normal;left:390.733px;top:0px;">Three Months Ended June 30, 2020 </div><div id="a17196" style="position:absolute;font-weight:bold;font-style:normal;left:630.48px;top:16.8px;">Consolidated </div><div id="a17199" style="position:absolute;font-weight:bold;font-style:normal;left:288.813px;top:31.2px;">Americas </div><div id="a17202" style="position:absolute;font-weight:bold;font-style:normal;left:413.8px;top:31.2px;">EMEA </div><div id="a17205" style="position:absolute;font-weight:bold;font-style:normal;left:518.12px;top:31.2px;">Asia/Pacific </div><div id="a17208" style="position:absolute;font-weight:bold;font-style:normal;left:652.72px;top:31.2px;">Total </div><div id="a17210" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:47.7px;">Customer Industries </div><div id="a17223" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64.7px;">Metals </div><div id="a17225" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:65.5px;">$ </div><div id="a17227" style="position:absolute;left:326.413px;top:65.5px;">32,687</div><div id="a17230" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:65.5px;">$ </div><div id="a17232" style="position:absolute;left:444.52px;top:65.5px;">24,924</div><div id="a17235" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:65.5px;">$ </div><div id="a17237" style="position:absolute;left:562.44px;top:65.5px;">35,416</div><div id="a17240" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:65.5px;">$ </div><div id="a17242" style="position:absolute;left:678.48px;top:65.5px;">93,027</div><div id="a17244" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.6px;">Metalworking and other </div><div id="a17247" style="position:absolute;left:326.413px;top:82.6px;">47,889</div><div id="a17251" style="position:absolute;left:444.52px;top:82.6px;">52,778</div><div id="a17255" style="position:absolute;left:562.44px;top:82.6px;">33,005</div><div id="a17259" style="position:absolute;left:671.76px;top:82.6px;">133,672</div><div id="a17263" style="position:absolute;left:326.413px;top:99.6px;">80,576</div><div id="a17267" style="position:absolute;left:444.52px;top:99.6px;">77,702</div><div id="a17271" style="position:absolute;left:562.44px;top:99.6px;">68,421</div><div id="a17275" style="position:absolute;left:671.76px;top:99.6px;">226,699</div><div id="a17277" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:116.5px;">Global Specialty Businesses </div><div id="a17280" style="position:absolute;left:326.413px;top:116.5px;">32,294</div><div id="a17284" style="position:absolute;left:444.52px;top:116.5px;">15,569</div><div id="a17288" style="position:absolute;left:562.44px;top:116.5px;">11,478</div><div id="a17292" style="position:absolute;left:678.48px;top:116.5px;">59,341</div><div id="a17295" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:134.6px;">$ </div><div id="a17297" style="position:absolute;left:319.693px;top:133.5px;">112,870</div><div id="a17300" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:134.6px;">$ </div><div id="a17302" style="position:absolute;left:444.52px;top:133.5px;">93,271</div><div id="a17305" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:134.6px;">$ </div><div id="a17307" style="position:absolute;left:562.44px;top:133.5px;">79,899</div><div id="a17310" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:134.6px;">$ </div><div id="a17312" style="position:absolute;left:671.76px;top:133.5px;">286,040</div><div id="a17326" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:168.7px;">Timing of Revenue Recognized </div><div id="a17339" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:185.6px;">Product sales at a point in time </div><div id="a17341" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:186.6px;">$ </div><div id="a17343" style="position:absolute;left:319.693px;top:186.6px;">108,644</div><div id="a17346" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:186.6px;">$ </div><div id="a17348" style="position:absolute;left:444.52px;top:186.6px;">87,995</div><div id="a17351" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:186.6px;">$ </div><div id="a17353" style="position:absolute;left:562.44px;top:186.6px;">78,195</div><div id="a17356" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:186.6px;">$ </div><div id="a17358" style="position:absolute;left:671.76px;top:186.6px;">274,834</div><div id="a17360" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:202.8px;">Services transferred over time </div><div id="a17363" style="position:absolute;left:332.973px;top:203.6px;">4,226</div><div id="a17367" style="position:absolute;left:451.08px;top:203.6px;">5,276</div><div id="a17371" style="position:absolute;left:569px;top:203.6px;">1,704</div><div id="a17375" style="position:absolute;left:678.48px;top:203.6px;">11,206</div><div id="a17378" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:221.5px;">$ </div><div id="a17380" style="position:absolute;left:319.693px;top:220.5px;">112,870</div><div id="a17383" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:221.5px;">$ </div><div id="a17385" style="position:absolute;left:444.52px;top:220.5px;">93,271</div><div id="a17388" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:221.5px;">$ </div><div id="a17390" style="position:absolute;left:562.44px;top:220.5px;">79,899</div><div id="a17393" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:221.5px;">$ </div><div id="a17395" style="position:absolute;left:671.76px;top:220.5px;">286,040</div></div><div id="TextBlockContainer88" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:237px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_86_XBRL_TS_17b188ede1ca47cc892323df02c4f1e3" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer87" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:237px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a17399" style="position:absolute;font-weight:bold;font-style:normal;left:390.733px;top:0px;">Three Months Ended June 30, 2019 </div><div id="a17410" style="position:absolute;font-weight:bold;font-style:normal;left:630.48px;top:16.8px;">Consolidated </div><div id="a17413" style="position:absolute;font-weight:bold;font-style:normal;left:288.813px;top:31.2px;">Americas </div><div id="a17416" style="position:absolute;font-weight:bold;font-style:normal;left:413.8px;top:31.2px;">EMEA </div><div id="a17419" style="position:absolute;font-weight:bold;font-style:normal;left:518.12px;top:31.2px;">Asia/Pacific </div><div id="a17422" style="position:absolute;font-weight:bold;font-style:normal;left:652.72px;top:31.2px;">Total </div><div id="a17424" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:47.7px;">Customer Industries </div><div id="a17437" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64.6px;">Metals </div><div id="a17439" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:65.6px;">$ </div><div id="a17441" style="position:absolute;left:326.413px;top:65.6px;">39,506</div><div id="a17444" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:65.6px;">$ </div><div id="a17446" style="position:absolute;left:444.52px;top:65.6px;">24,485</div><div id="a17449" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:65.6px;">$ </div><div id="a17451" style="position:absolute;left:562.44px;top:65.6px;">28,391</div><div id="a17454" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:65.6px;">$ </div><div id="a17456" style="position:absolute;left:678.48px;top:65.6px;">92,382</div><div id="a17458" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.8px;">Metalworking and other </div><div id="a17461" style="position:absolute;left:326.413px;top:82.6px;">32,241</div><div id="a17465" style="position:absolute;left:444.52px;top:82.6px;">24,527</div><div id="a17469" style="position:absolute;left:562.44px;top:82.6px;">16,410</div><div id="a17473" style="position:absolute;left:678.48px;top:82.6px;">73,178</div><div id="a17477" style="position:absolute;left:326.413px;top:99.5px;">71,747</div><div id="a17481" style="position:absolute;left:444.52px;top:99.5px;">49,012</div><div id="a17485" style="position:absolute;left:562.44px;top:99.5px;">44,801</div><div id="a17489" style="position:absolute;left:671.76px;top:99.5px;">165,560</div><div id="a17491" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:116.5px;">Global Specialty Businesses </div><div id="a17494" style="position:absolute;left:326.413px;top:116.5px;">31,145</div><div id="a17498" style="position:absolute;left:451.08px;top:116.5px;">4,138</div><div id="a17502" style="position:absolute;left:569px;top:116.5px;">5,026</div><div id="a17506" style="position:absolute;left:678.48px;top:116.5px;">40,309</div><div id="a17509" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:134.6px;">$ </div><div id="a17511" style="position:absolute;left:319.693px;top:133.6px;">102,892</div><div id="a17514" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:134.6px;">$ </div><div id="a17516" style="position:absolute;left:444.52px;top:133.6px;">53,150</div><div id="a17519" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:134.6px;">$ </div><div id="a17521" style="position:absolute;left:562.44px;top:133.6px;">49,827</div><div id="a17524" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:134.6px;">$ </div><div id="a17526" style="position:absolute;left:671.76px;top:133.6px;">205,869</div><div id="a17540" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:168.6px;">Timing of Revenue Recognized </div><div id="a17553" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:185.8px;">Product sales at a point in time </div><div id="a17555" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:186.6px;">$ </div><div id="a17557" style="position:absolute;left:319.693px;top:186.6px;">100,053</div><div id="a17560" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:186.6px;">$ </div><div id="a17562" style="position:absolute;left:444.52px;top:186.6px;">53,098</div><div id="a17565" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:186.6px;">$ </div><div id="a17567" style="position:absolute;left:562.44px;top:186.6px;">48,406</div><div id="a17570" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:186.6px;">$ </div><div id="a17572" style="position:absolute;left:671.76px;top:186.6px;">201,557</div><div id="a17574" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:202.8px;">Services transferred over time </div><div id="a17577" style="position:absolute;left:332.973px;top:203.6px;">2,839</div><div id="a17581" style="position:absolute;left:467.88px;top:203.6px;">52</div><div id="a17585" style="position:absolute;left:569px;top:203.6px;">1,421</div><div id="a17589" style="position:absolute;left:685.04px;top:203.6px;">4,312</div><div id="a17592" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:221.6px;">$ </div><div id="a17594" style="position:absolute;left:319.693px;top:220.5px;">102,892</div><div id="a17597" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:221.6px;">$ </div><div id="a17599" style="position:absolute;left:444.52px;top:220.5px;">53,150</div><div id="a17602" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:221.6px;">$ </div><div id="a17604" style="position:absolute;left:562.44px;top:220.5px;">49,827</div><div id="a17607" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:221.6px;">$ </div><div id="a17609" style="position:absolute;left:671.76px;top:220.5px;">205,869</div></div></div></div><div id="TextBlockContainer91" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:237px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a17666" style="position:absolute;font-weight:bold;font-style:normal;left:398.76px;top:0px;">Six Months Ended June 30, 2020 </div><div id="a17678" style="position:absolute;font-weight:bold;font-style:normal;left:630.48px;top:16.8px;">Consolidated </div><div id="a17681" style="position:absolute;font-weight:bold;font-style:normal;left:288.813px;top:31.2px;">Americas </div><div id="a17684" style="position:absolute;font-weight:bold;font-style:normal;left:413.8px;top:31.2px;">EMEA </div><div id="a17687" style="position:absolute;font-weight:bold;font-style:normal;left:518.12px;top:31.2px;">Asia/Pacific </div><div id="a17690" style="position:absolute;font-weight:bold;font-style:normal;left:652.72px;top:31.2px;">Total </div><div id="a17692" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:47.4px;">Customer Industries </div><div id="a17705" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64px;">Metals </div><div id="a17707" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:64.8px;">$ </div><div id="a17709" style="position:absolute;left:326.413px;top:64.8px;">79,360</div><div id="a17712" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:64.8px;">$ </div><div id="a17714" style="position:absolute;left:444.52px;top:64.8px;">54,812</div><div id="a17717" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:64.8px;">$ </div><div id="a17719" style="position:absolute;left:562.44px;top:64.8px;">77,005</div><div id="a17722" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:64.8px;">$ </div><div id="a17724" style="position:absolute;left:671.76px;top:64.8px;">211,177</div><div id="a17726" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81px;">Metalworking and other </div><div id="a17729" style="position:absolute;left:319.693px;top:81.9px;">131,112</div><div id="a17733" style="position:absolute;left:437.8px;top:81.9px;">127,729</div><div id="a17737" style="position:absolute;left:562.44px;top:81.9px;">64,968</div><div id="a17741" style="position:absolute;left:671.76px;top:81.9px;">323,809</div><div id="a17745" style="position:absolute;left:319.693px;top:98.9px;">210,472</div><div id="a17749" style="position:absolute;left:437.8px;top:98.9px;">182,541</div><div id="a17753" style="position:absolute;left:555.72px;top:98.9px;">141,973</div><div id="a17757" style="position:absolute;left:671.76px;top:98.9px;">534,986</div><div id="a17759" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:115.8px;">Global Specialty Businesses </div><div id="a17762" style="position:absolute;left:326.413px;top:115.8px;">76,525</div><div id="a17766" style="position:absolute;left:444.52px;top:115.8px;">32,174</div><div id="a17770" style="position:absolute;left:562.44px;top:115.8px;">20,916</div><div id="a17774" style="position:absolute;left:671.76px;top:115.8px;">129,615</div><div id="a17777" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:133.9px;">$ </div><div id="a17779" style="position:absolute;left:319.693px;top:132.8px;">286,997</div><div id="a17782" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:133.9px;">$ </div><div id="a17784" style="position:absolute;left:437.8px;top:132.8px;">214,715</div><div id="a17787" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:133.9px;">$ </div><div id="a17789" style="position:absolute;left:555.72px;top:132.8px;">162,889</div><div id="a17792" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:133.9px;">$ </div><div id="a17794" style="position:absolute;left:671.76px;top:132.8px;">664,601</div><div id="a17808" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:168px;">Timing of Revenue Recognized </div><div id="a17821" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:185px;">Product sales at a point in time </div><div id="a17823" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:185.9px;">$ </div><div id="a17825" style="position:absolute;left:319.693px;top:185.9px;">277,446</div><div id="a17828" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:185.9px;">$ </div><div id="a17830" style="position:absolute;left:437.8px;top:185.9px;">206,418</div><div id="a17833" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:185.9px;">$ </div><div id="a17835" style="position:absolute;left:555.72px;top:185.9px;">159,351</div><div id="a17838" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:185.9px;">$ </div><div id="a17840" style="position:absolute;left:671.76px;top:185.9px;">643,215</div><div id="a17842" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:202.1px;">Services transferred over time </div><div id="a17845" style="position:absolute;left:332.973px;top:202.9px;">9,551</div><div id="a17849" style="position:absolute;left:451.08px;top:202.9px;">8,297</div><div id="a17853" style="position:absolute;left:569px;top:202.9px;">3,538</div><div id="a17857" style="position:absolute;left:678.48px;top:202.9px;">21,386</div><div id="a17860" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:220.8px;">$ </div><div id="a17862" style="position:absolute;left:319.693px;top:219.9px;">286,997</div><div id="a17865" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:220.8px;">$ </div><div id="a17867" style="position:absolute;left:437.8px;top:219.9px;">214,715</div><div id="a17870" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:220.8px;">$ </div><div id="a17872" style="position:absolute;left:555.72px;top:219.9px;">162,889</div><div id="a17875" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:220.8px;">$ </div><div id="a17877" style="position:absolute;left:671.76px;top:219.9px;">664,601</div></div><div id="TextBlockContainer96" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:237px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_94_XBRL_TS_18380a31a4ec4b3fa1932b83a13c0349" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer95" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:724px;height:237px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a17881" style="position:absolute;font-weight:bold;font-style:normal;left:398.76px;top:0px;">Six Months Ended June 30, 2019 </div><div id="a17893" style="position:absolute;font-weight:bold;font-style:normal;left:630.48px;top:16.8px;">Consolidated </div><div id="a17896" style="position:absolute;font-weight:bold;font-style:normal;left:288.813px;top:31.2px;">Americas </div><div id="a17899" style="position:absolute;font-weight:bold;font-style:normal;left:413.8px;top:31.2px;">EMEA </div><div id="a17902" style="position:absolute;font-weight:bold;font-style:normal;left:518.12px;top:31.2px;">Asia/Pacific </div><div id="a17905" style="position:absolute;font-weight:bold;font-style:normal;left:652.72px;top:31.2px;">Total </div><div id="a17907" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:47.7px;">Customer Industries </div><div id="a17920" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:64.6px;">Metals </div><div id="a17922" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:65.6px;">$ </div><div id="a17924" style="position:absolute;left:326.413px;top:64.6px;">80,431</div><div id="a17927" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:65.6px;">$ </div><div id="a17929" style="position:absolute;left:444.52px;top:64.6px;">49,201</div><div id="a17932" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:65.6px;">$ </div><div id="a17934" style="position:absolute;left:562.44px;top:64.6px;">57,604</div><div id="a17937" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:65.6px;">$ </div><div id="a17939" style="position:absolute;left:671.76px;top:64.6px;">187,236</div><div id="a17941" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.8px;">Metalworking and other </div><div id="a17944" style="position:absolute;left:326.413px;top:81.8px;">63,541</div><div id="a17948" style="position:absolute;left:444.52px;top:81.8px;">52,236</div><div id="a17952" style="position:absolute;left:562.44px;top:81.8px;">33,364</div><div id="a17956" style="position:absolute;left:671.76px;top:81.8px;">149,141</div><div id="a17960" style="position:absolute;left:319.693px;top:99px;">143,972</div><div id="a17964" style="position:absolute;left:437.8px;top:99px;">101,437</div><div id="a17968" style="position:absolute;left:562.44px;top:99px;">90,968</div><div id="a17972" style="position:absolute;left:671.76px;top:99px;">336,377</div><div id="a17974" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:116.5px;">Global Specialty Businesses </div><div id="a17977" style="position:absolute;left:326.413px;top:115.7px;">63,315</div><div id="a17981" style="position:absolute;left:451.08px;top:115.7px;">8,001</div><div id="a17985" style="position:absolute;left:569px;top:115.7px;">9,386</div><div id="a17989" style="position:absolute;left:678.48px;top:115.7px;">80,702</div><div id="a17992" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:134.6px;">$ </div><div id="a17994" style="position:absolute;left:319.693px;top:133.6px;">207,287</div><div id="a17997" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:134.6px;">$ </div><div id="a17999" style="position:absolute;left:437.8px;top:133.6px;">109,438</div><div id="a18002" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:134.6px;">$ </div><div id="a18004" style="position:absolute;left:555.72px;top:133.6px;">100,354</div><div id="a18007" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:134.6px;">$ </div><div id="a18009" style="position:absolute;left:671.76px;top:133.6px;">417,079</div><div id="a18023" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:168.6px;">Timing of Revenue Recognized </div><div id="a18036" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:185.8px;">Product sales at a point in time </div><div id="a18038" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:186.6px;">$ </div><div id="a18040" style="position:absolute;left:319.693px;top:185.8px;">201,600</div><div id="a18043" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:186.6px;">$ </div><div id="a18045" style="position:absolute;left:437.8px;top:185.8px;">109,332</div><div id="a18048" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:186.6px;">$ </div><div id="a18050" style="position:absolute;left:562.44px;top:185.8px;">97,057</div><div id="a18053" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:186.6px;">$ </div><div id="a18055" style="position:absolute;left:671.76px;top:185.8px;">407,989</div><div id="a18057" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:202.7px;">Services transferred over time </div><div id="a18060" style="position:absolute;left:332.973px;top:202.7px;">5,687</div><div id="a18064" style="position:absolute;left:461.16px;top:202.7px;">106</div><div id="a18068" style="position:absolute;left:569px;top:202.7px;">3,297</div><div id="a18072" style="position:absolute;left:685.04px;top:202.7px;">9,090</div><div id="a18075" style="position:absolute;font-weight:normal;font-style:normal;left:264.493px;top:221.6px;">$ </div><div id="a18077" style="position:absolute;left:319.693px;top:220.5px;">207,287</div><div id="a18080" style="position:absolute;font-weight:normal;font-style:normal;left:382.413px;top:221.6px;">$ </div><div id="a18082" style="position:absolute;left:437.8px;top:220.5px;">109,438</div><div id="a18085" style="position:absolute;font-weight:normal;font-style:normal;left:500.52px;top:221.6px;">$ </div><div id="a18087" style="position:absolute;left:555.72px;top:220.5px;">100,354</div><div id="a18090" style="position:absolute;font-weight:normal;font-style:normal;left:616.56px;top:221.6px;">$ </div><div id="a18092" style="position:absolute;left:671.76px;top:220.5px;">417,079</div></div></div></div>

32687000

24924000

35416000

93027000

47889000

52778000

33005000

133672000

80576000

77702000

68421000

226699000

32294000

15569000

11478000

59341000

112870000

93271000

79899000

286040000

108644000

87995000

78195000

274834000

4226000

5276000

1704000

11206000

112870000

93271000

79899000

286040000

39506000

24485000

28391000

92382000

32241000

24527000

16410000

73178000

71747000

49012000

44801000

165560000

31145000

4138000

5026000

40309000

102892000

53150000

49827000

205869000

100053000

53098000

48406000

201557000

2839000

52000

1421000

4312000

102892000

53150000

49827000

205869000

79360000

54812000

77005000

211177000

131112000

127729000

64968000

323809000

210472000

182541000

141973000

534986000

76525000

32174000

20916000

129615000

286997000

214715000

162889000

664601000

277446000

206418000

159351000

643215000

9551000

8297000

3538000

21386000

286997000

214715000

162889000

664601000

80431000

49201000

57604000

187236000

63541000

52236000

33364000

149141000

143972000

101437000

90968000

336377000

63315000

8001000

9386000

80702000

207287000

109438000

100354000

417079000

201600000

109332000

97057000

407989000

5687000

106000

3297000

9090000

207287000

109438000

100354000

417079000

<div id="TextBlockContainer100" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:292px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a18094" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 6 – Leases </div><div id="div_98_XBRL_TS_8c06c8e1621448c4813235577e1c3604" style="position:absolute;left:0px;top:23.4px;float:left;"><div id="TextBlockContainer99" 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="a18102" 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="a18140" 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="a18189" 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="a18232" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">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="a18274" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">leases is recognized when the obligation is incurred.</div></div></div><div id="a18274_53_1" style="position:absolute;font-weight:normal;font-style:normal;left:283.213px;top:84.6px;"> </div><div id="a18290" style="position:absolute;font-weight:bold;font-style:normal;left:286.413px;top:84.6px;"> </div><div id="a18291" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:108px;">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="a18329" style="position:absolute;left:4.427px;top:123.4px;">11</div><div id="a18329_2_95" style="position:absolute;font-weight:normal;font-style:normal;left:17.867px;top:123.4px;"><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="a18329_97_2" style="position:absolute;left:520.04px;top:123.4px;">95</div><div id="a18329_99_39" style="position:absolute;font-weight:normal;font-style:normal;left:533.48px;top:123.4px;"><div style="display:inline-block;width:3.36px"> </div>years.<div style="display:inline-block;width:6.74px"> </div>The lease term for all of the </div><div id="a18381" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:138.7px;">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="a18425" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:154.1px;">that the Company is reasonably<div style="display:inline-block;width:4.11px"> </div>certain it will exercise.<div style="display:inline-block;width:7.26px"> </div>Operating leases are included in right of use lease assets, other current </div><div id="a18468" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:169.3px;">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="a18508" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:184.7px;">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="a18551" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:200px;">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="a18595" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:215.4px;">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="a18631" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:230.8px;">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="a18675" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:246px;">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 id="a18712" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:261.3px;">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="a18750" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:276.7px;">long-term debt and long-term debt on the Condensed Consolidated<div style="display:inline-block;width:4.95px"> </div>Balance Sheet.</div></div><div id="TextBlockContainer102" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:719px;height:170px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a18830" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">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 and six </div><div id="a18874" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">months ended June 30, 2020 was $</div><div id="a18874_32_3" style="position:absolute;left:190.693px;top:15.4px;">3.5</div><div id="a18874_35_14" style="position:absolute;font-weight:normal;font-style:normal;left:207.493px;top:15.4px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a18874_49_3" style="position:absolute;left:281.933px;top:15.4px;">6.9</div><div id="a18874_52_78" style="position:absolute;font-weight:normal;font-style:normal;left:298.733px;top:15.4px;"><div style="display:inline-block;width:3.2px"> </div>million, respectively.<div style="display:inline-block;width:8.08px"> </div>Comparatively, operating<div style="display:inline-block;width:4.83px"> </div>lease expense for the three </div><div id="a18918" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">and six months ended June 30, 2019 was $</div><div id="a18918_40_3" style="position:absolute;left:232.333px;top:30.7px;">1.7</div><div id="a18918_43_14" style="position:absolute;font-weight:normal;font-style:normal;left:248.973px;top:30.7px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a18918_57_3" style="position:absolute;left:323.533px;top:30.7px;">3.5</div><div id="a18918_60_72" style="position:absolute;font-weight:normal;font-style:normal;left:340.173px;top:30.7px;"><div style="display:inline-block;width:3.36px"> </div>million, respectively.<div style="display:inline-block;width:8.08px"> </div>Short-term lease expense for the three and six </div><div id="a18967" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">months ended June 30, 2020 was $</div><div id="a18967_32_3" style="position:absolute;left:190.693px;top:45.9px;">0.4</div><div id="a18967_35_14" style="position:absolute;font-weight:normal;font-style:normal;left:207.493px;top:45.9px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a18967_49_3" style="position:absolute;left:281.933px;top:45.9px;">0.9</div><div id="a18967_52_79" style="position:absolute;font-weight:normal;font-style:normal;left:298.733px;top:45.9px;"><div style="display:inline-block;width:3.2px"> </div>million, respectively.<div style="display:inline-block;width:8.08px"> </div>Comparatively, short-term<div style="display:inline-block;width:4.78px"> </div>lease expense for the three </div><div id="a19013" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">and six months ended June 30, 2019 was $</div><div id="a19013_40_3" style="position:absolute;left:232.333px;top:61.3px;">0.2</div><div id="a19013_43_14" style="position:absolute;font-weight:normal;font-style:normal;left:248.973px;top:61.3px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a19013_57_3" style="position:absolute;left:323.533px;top:61.3px;">0.3</div><div id="a19013_60_41" style="position:absolute;font-weight:normal;font-style:normal;left:340.173px;top:61.3px;"><div style="display:inline-block;width:3.36px"> </div>million, respectively.<div style="display:inline-block;width:8.08px"> </div>The Company has </div><div id="a19013_101_2" style="position:absolute;left:563.559px;top:61.3px;">no</div><div id="a19013_103_25" style="position:absolute;font-weight:normal;font-style:normal;left:576.879px;top:61.3px;"><div style="display:inline-block;width:3.36px"> </div>material variable lease </div><div id="a19056" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.6px;">costs or sublease income for the three or six months ended<div style="display:inline-block;width:4.74px"> </div>June 30, 2020 and 2019.<div style="display:inline-block;width:7.15px"> </div></div><div id="a19091" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:100px;">Cash paid for operating leases during the six months ended<div style="display:inline-block;width:4.77px"> </div>June 30, 2020 and 2019 was $</div><div id="a19091_87_3" style="position:absolute;left:508.199px;top:100px;">6.8</div><div id="a19091_90_14" style="position:absolute;font-weight:normal;font-style:normal;left:524.839px;top:100px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a19091_104_3" style="position:absolute;left:599.279px;top:100px;">3.4</div><div id="a19091_107_10" style="position:absolute;font-weight:normal;font-style:normal;left:616.079px;top:100px;"><div style="display:inline-block;width:3.36px"> </div>million, </div><div id="a19134" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">respectively.<div style="display:inline-block;width:7.98px"> </div>The Company recorded new right of use lease assets and associated lease liabilities<div style="display:inline-block;width:4.84px"> </div>of $</div><div id="a19134_103_3" style="position:absolute;left:546.919px;top:115.4px;">4.1</div><div id="a19134_106_24" style="position:absolute;font-weight:normal;font-style:normal;left:563.719px;top:115.4px;"><div style="display:inline-block;width:3.2px"> </div>million during the six </div><div id="a19177" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.7px;">months ended June 30, 2020.<div style="display:inline-block;width:7.35px"> </div></div><div id="a19189" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:154.1px;">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="TextBlockContainer106" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:169px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_104_XBRL_TS_26dfeded0c47407599d582ca68e1f6ab" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer105" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:169px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19216" style="position:absolute;font-weight:bold;font-style:normal;left:493.32px;top:0px;">June 30, </div><div id="a19219" style="position:absolute;font-weight:bold;font-style:normal;left:577.2px;top:0px;">December 31, </div><div id="a19223" style="position:absolute;font-weight:bold;font-style:normal;left:503.56px;top:17px;">2020 </div><div id="a19226" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:17px;">2019 </div><div id="a19229" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:34px;">Right of use lease assets </div><div id="a19231" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:34px;">$ </div><div id="a19233" style="position:absolute;left:518.92px;top:34px;">40,517</div><div id="a19236" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:34px;">$ </div><div id="a19238" style="position:absolute;left:618px;top:34px;">42,905</div><div id="a19248" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;">Other current liabilities </div><div id="a19251" style="position:absolute;left:518.92px;top:68px;">11,085</div><div id="a19255" style="position:absolute;left:618px;top:68px;">11,177</div><div id="a19258" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:85px;">Long-term lease liabilities </div><div id="a19263" style="position:absolute;left:518.92px;top:85px;">28,908</div><div id="a19267" style="position:absolute;left:618px;top:85px;">31,273</div><div id="a19270" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:102px;">Total operating<div style="display:inline-block;width:4.74px"> </div>lease liabilities </div><div id="a19273" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:102px;">$ </div><div id="a19275" style="position:absolute;left:518.92px;top:102px;">39,993</div><div id="a19278" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:102px;">$ </div><div id="a19280" style="position:absolute;left:618px;top:102px;">42,450</div><div id="a19291" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:136px;">Weighted average<div style="display:inline-block;width:4.84px"> </div>remaining lease term (years) </div><div id="a19294" style="position:absolute;left:538.92px;top:136px;">6.0</div><div id="a19298" style="position:absolute;left:638px;top:136px;">6.2</div><div id="a19301" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153px;">Weighted average<div style="display:inline-block;width:4.84px"> </div>discount rate </div><div id="a19304" style="position:absolute;left:525.16px;top:153px;display:flex;">4.21%</div><div id="a19308" style="position:absolute;left:624.24px;top:153px;display:flex;">4.21%</div></div></div></div><div id="TextBlockContainer108" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:417px;height:16px;display:inline-block;"><div id="a19310" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">Maturities of operating lease liabilities as of June 30,<div style="display:inline-block;width:4.6px"> </div>2020 were as follows:</div></div><div id="TextBlockContainer112" 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_110_XBRL_TS_0d579ae1d84049168fd116dbaa5385b9" 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:667px;height:184px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19339" style="position:absolute;font-weight:bold;font-style:normal;left:592.4px;top:0px;">June 30, </div><div id="a19343" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:17px;">2020 </div><div id="a19346" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:33px;">For the remainder of 2020 </div><div id="a19348" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:33px;">$ </div><div id="a19350" style="position:absolute;left:624.56px;top:33px;">6,598</div><div id="a19353" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:49px;">For the year ended December 31, 2021 </div><div id="a19356" style="position:absolute;left:618px;top:49px;">10,978</div><div id="a19359" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:65.9px;">For the year ended December 31, 2022 </div><div id="a19362" style="position:absolute;left:624.56px;top:65.9px;">7,435</div><div id="a19365" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:83.1px;">For the year ended December 31, 2023 </div><div id="a19368" style="position:absolute;left:624.56px;top:83.1px;">5,434</div><div id="a19371" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">For the year ended December 31, 2024 </div><div id="a19374" style="position:absolute;left:624.56px;top:100px;">4,232</div><div id="a19377" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:117px;">For the year ended December 31, 2025 and beyond </div><div id="a19380" style="position:absolute;left:618px;top:117px;">11,356</div><div id="a19383" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:133.9px;">Total lease payments </div><div id="a19386" style="position:absolute;left:618px;top:133.9px;">46,033</div><div id="a19389" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:151.1px;">Less: imputed interest </div><div id="a19392" style="position:absolute;left:619.76px;top:151.1px;">(6,040)</div><div id="a19395" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:168px;">Present value of lease liabilities </div><div id="a19397" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:168px;">$ </div><div id="a19399" style="position:absolute;left:618px;top:168px;">39,993</div></div></div></div>

<div id="TextBlockContainer99" 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="a18102" 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="a18140" 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="a18189" 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="a18232" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">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="a18274" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">leases is recognized when the obligation is incurred.</div></div>

P11Y

P95Y

3500000

6900000

1700000

3500000

400000

900000

200000

300000

6800000

3400000

4100000

<div id="TextBlockContainer105" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:667px;height:169px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19216" style="position:absolute;font-weight:bold;font-style:normal;left:493.32px;top:0px;">June 30, </div><div id="a19219" style="position:absolute;font-weight:bold;font-style:normal;left:577.2px;top:0px;">December 31, </div><div id="a19223" style="position:absolute;font-weight:bold;font-style:normal;left:503.56px;top:17px;">2020 </div><div id="a19226" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:17px;">2019 </div><div id="a19229" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:34px;">Right of use lease assets </div><div id="a19231" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:34px;">$ </div><div id="a19233" style="position:absolute;left:518.92px;top:34px;">40,517</div><div id="a19236" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:34px;">$ </div><div id="a19238" style="position:absolute;left:618px;top:34px;">42,905</div><div id="a19248" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;">Other current liabilities </div><div id="a19251" style="position:absolute;left:518.92px;top:68px;">11,085</div><div id="a19255" style="position:absolute;left:618px;top:68px;">11,177</div><div id="a19258" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:85px;">Long-term lease liabilities </div><div id="a19263" style="position:absolute;left:518.92px;top:85px;">28,908</div><div id="a19267" style="position:absolute;left:618px;top:85px;">31,273</div><div id="a19270" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:102px;">Total operating<div style="display:inline-block;width:4.74px"> </div>lease liabilities </div><div id="a19273" style="position:absolute;font-weight:normal;font-style:normal;left:474.44px;top:102px;">$ </div><div id="a19275" style="position:absolute;left:518.92px;top:102px;">39,993</div><div id="a19278" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:102px;">$ </div><div id="a19280" style="position:absolute;left:618px;top:102px;">42,450</div><div id="a19291" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:136px;">Weighted average<div style="display:inline-block;width:4.84px"> </div>remaining lease term (years) </div><div id="a19294" style="position:absolute;left:538.92px;top:136px;">6.0</div><div id="a19298" style="position:absolute;left:638px;top:136px;">6.2</div><div id="a19301" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153px;">Weighted average<div style="display:inline-block;width:4.84px"> </div>discount rate </div><div id="a19304" style="position:absolute;left:525.16px;top:153px;display:flex;">4.21%</div><div id="a19308" style="position:absolute;left:624.24px;top:153px;display:flex;">4.21%</div></div>

40517000

42905000

11085000

11177000

28908000

31273000

39993000

42450000

P6Y

P6Y2M12D

4.21

<div id="TextBlockContainer111" 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="a19339" style="position:absolute;font-weight:bold;font-style:normal;left:592.4px;top:0px;">June 30, </div><div id="a19343" style="position:absolute;font-weight:bold;font-style:normal;left:602.64px;top:17px;">2020 </div><div id="a19346" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:33px;">For the remainder of 2020 </div><div id="a19348" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:33px;">$ </div><div id="a19350" style="position:absolute;left:624.56px;top:33px;">6,598</div><div id="a19353" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:49px;">For the year ended December 31, 2021 </div><div id="a19356" style="position:absolute;left:618px;top:49px;">10,978</div><div id="a19359" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:65.9px;">For the year ended December 31, 2022 </div><div id="a19362" style="position:absolute;left:624.56px;top:65.9px;">7,435</div><div id="a19365" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:83.1px;">For the year ended December 31, 2023 </div><div id="a19368" style="position:absolute;left:624.56px;top:83.1px;">5,434</div><div id="a19371" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">For the year ended December 31, 2024 </div><div id="a19374" style="position:absolute;left:624.56px;top:100px;">4,232</div><div id="a19377" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:117px;">For the year ended December 31, 2025 and beyond </div><div id="a19380" style="position:absolute;left:618px;top:117px;">11,356</div><div id="a19383" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:133.9px;">Total lease payments </div><div id="a19386" style="position:absolute;left:618px;top:133.9px;">46,033</div><div id="a19389" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:151.1px;">Less: imputed interest </div><div id="a19392" style="position:absolute;left:619.76px;top:151.1px;">(6,040)</div><div id="a19395" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:168px;">Present value of lease liabilities </div><div id="a19397" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:168px;">$ </div><div id="a19399" style="position:absolute;left:618px;top:168px;">39,993</div></div>

6598000

10978000

7435000

5434000

4232000

11356000

46033000

6040000

39993000

<div id="TextBlockContainer114" 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="a19401" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 7 – Restructuring and Related Activities </div><div id="a19415" style="position:absolute;left:28.427px;top:23.2px;">As previously disclosed in its 2019 Form 10-K, in the third quarter of 2019, the Company’s management approved a global </div><div id="a19457" style="position:absolute;left:4.427px;top:38.6px;">restructuring plan (the “QH Program”) as part of its plan to realize certain cost synergies associated with the Combination. The QH </div><div id="a19499" style="position:absolute;left:4.427px;top:53.9px;">Program includes restructuring and associated severance costs to reduce total headcount by approximately 325 people globally and </div><div id="a19533" style="position:absolute;left:4.427px;top:69.3px;">plans for the closure of certain manufacturing and non-manufacturing facilities. The exact timing and total costs associated with the </div><div id="a19573" style="position:absolute;left:4.427px;top:84.6px;">QH Program will depend on a number of factors and is subject to change; however, the Company currently expects reduction in </div><div id="a19616" style="position:absolute;left:4.427px;top:99.9px;">headcount and site closures to continue to occur during 2020 and 2021 under the QH Program and estimates that total costs related to </div><div id="a19662" style="position:absolute;left:4.427px;top:115.2px;">the QH Program will approximate one-times the anticipated cost synergies realized from the QH Program. Employee separation </div><div id="a19699" style="position:absolute;left:4.427px;top:130.6px;">benefits will vary depending on local regulations within certain foreign countries and will include severance and other benefits.</div><div id="a19734" style="position:absolute;font-weight:normal;font-style:italic;left:683.6px;top:130.6px;"> </div><div id="a19735" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:154px;">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="a19781" 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:4.76px"> </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="a19822" 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="a19854" 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="TextBlockContainer116" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:699px;height:16px;display:inline-block;"><div id="a19946" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;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 six months ended<div style="display:inline-block;width:4.96px"> </div>June 30, 2020 is as follows:</div></div><div id="TextBlockContainer120" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:664px;height:101px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_118_XBRL_TS_98558c94639649bc8d7319250ef31c9e" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer119" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:664px;height:101px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19993" style="position:absolute;font-weight:bold;font-style:normal;left:576.72px;top:0px;">QH Program </div><div id="a19996" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:16.2px;">Accrued restructuring as of December 31, 2019 </div><div id="a19998" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:16.6px;">$ </div><div id="a20000" style="position:absolute;left:615.6px;top:16.6px;">18,043</div><div id="a20004" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:33.6px;">Restructuring and related charges </div><div id="a20007" style="position:absolute;left:621.04px;top:33.6px;">2,202</div><div id="a20011" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:50.6px;">Cash payments </div><div id="a20014" style="position:absolute;left:616.24px;top:50.6px;">(9,592)</div><div id="a20018" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:67.7px;">Currency translation adjustments </div><div id="a20020" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:67.7px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a20022" style="position:absolute;left:626.16px;top:67.7px;">(221)</div><div id="a20025" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">Accrued restructuring as of June 30, 2020 </div><div id="a20028" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:85.6px;">$ </div><div id="a20030" style="position:absolute;left:614.48px;top:85.6px;">10,432</div></div></div></div><div id="TextBlockContainer122" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:729px;height:47px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a20032" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">In connection with the plans for closure of certain<div style="display:inline-block;width:4.58px"> </div>manufacturing and non-manufacturing facilities, the Company<div style="display:inline-block;width:4.81px"> </div>made a decision </div><div id="a20070" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">to make available for sale certain facilities during the second<div style="display:inline-block;width:4.78px"> </div>quarter of 2020 resulting in the reclassification of approximately<div style="display:inline-block;width:4.79px"> </div>$</div><div id="a20070_132_4" style="position:absolute;left:686.319px;top:15.4px;">11.7</div><div id="a20070_136_1" style="position:absolute;font-weight:normal;font-style:normal;left:709.679px;top:15.4px;"> </div><div id="a20110" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">million of buildings and land to other current assets as of June<div style="display:inline-block;width:4.85px"> </div>30, 2020.</div></div>

As previously disclosed in its 2019 Form 10-K, in the third quarter of 2019, 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. The QH Program includes restructuring and associated severance costs to reduce total headcount by approximately 325 people globally and plans for the closure of certain manufacturing and non-manufacturing facilities. The exact timing and total costs associated with the QH Program will depend on a number of factors and is subject to change; however, the Company currently expects reduction in headcount and site closures to continue to occur during 2020 and 2021 under the QH Program and estimates that total costs related to the QH Program will approximate one-times the anticipated cost synergies realized from the QH Program. Employee separation benefits will vary depending on local regulations within certain foreign countries and will include severance and other benefits.

325

<div id="TextBlockContainer119" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:664px;height:101px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a19993" style="position:absolute;font-weight:bold;font-style:normal;left:576.72px;top:0px;">QH Program </div><div id="a19996" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:16.2px;">Accrued restructuring as of December 31, 2019 </div><div id="a19998" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:16.6px;">$ </div><div id="a20000" style="position:absolute;left:615.6px;top:16.6px;">18,043</div><div id="a20004" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:33.6px;">Restructuring and related charges </div><div id="a20007" style="position:absolute;left:621.04px;top:33.6px;">2,202</div><div id="a20011" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:50.6px;">Cash payments </div><div id="a20014" style="position:absolute;left:616.24px;top:50.6px;">(9,592)</div><div id="a20018" style="position:absolute;font-weight:normal;font-style:normal;left:16.459px;top:67.7px;">Currency translation adjustments </div><div id="a20020" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:67.7px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a20022" style="position:absolute;left:626.16px;top:67.7px;">(221)</div><div id="a20025" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">Accrued restructuring as of June 30, 2020 </div><div id="a20028" style="position:absolute;font-weight:normal;font-style:normal;left:573.52px;top:85.6px;">$ </div><div id="a20030" style="position:absolute;left:614.48px;top:85.6px;">10,432</div></div>

18043000

2202000

9592000

221000

10432000

11700000

<div id="TextBlockContainer124" 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="a20138" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 8 – Share-Based Compensation </div><div id="a20150" 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="a20181" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.8px;">Operations for the three and six months ended June 30, 2020<div style="display:inline-block;width:4.72px"> </div>and 2019:</div></div><div id="TextBlockContainer128" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:727px;height:187px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_126_XBRL_TS_0ff0571e7d5d412983e1d5ea6802dcea" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer127" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:727px;height:187px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a20210" style="position:absolute;font-weight:bold;font-style:normal;left:386.733px;top:0px;">Three Months Ended </div><div id="a20213" style="position:absolute;font-weight:bold;font-style:normal;left:581.84px;top:0px;">Six Months Ended </div><div id="a20217" style="position:absolute;font-weight:bold;font-style:normal;left:423.72px;top:17px;">June 30, </div><div id="a20220" style="position:absolute;font-weight:bold;font-style:normal;left:610.8px;top:17px;">June 30, </div><div id="a20224" style="position:absolute;font-weight:bold;font-style:normal;left:386.573px;top:34.1px;">2020 </div><div id="a20227" style="position:absolute;font-weight:bold;font-style:normal;left:481.64px;top:34.1px;">2019 </div><div id="a20230" style="position:absolute;font-weight:bold;font-style:normal;left:574.64px;top:34.1px;">2020 </div><div id="a20233" style="position:absolute;font-weight:bold;font-style:normal;left:667.76px;top:34.1px;">2019 </div><div id="a20235" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51px;">Stock options </div><div id="a20237" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:51px;">$ </div><div id="a20239" style="position:absolute;left:417.64px;top:51px;">353</div><div id="a20242" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:51px;">$ </div><div id="a20244" style="position:absolute;left:512.68px;top:51px;">173</div><div id="a20247" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:51px;">$ </div><div id="a20249" style="position:absolute;left:605.68px;top:51px;">785</div><div id="a20252" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:51px;">$ </div><div id="a20254" style="position:absolute;left:698.64px;top:51px;">433</div><div id="a20256" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;">Non-vested restricted stock awards and restricted stock<div style="display:inline-block;width:4.64px"> </div>units </div><div id="a20261" style="position:absolute;left:407.56px;top:68px;">1,259</div><div id="a20265" style="position:absolute;left:512.68px;top:68px;">440</div><div id="a20269" style="position:absolute;left:595.6px;top:68px;">2,523</div><div id="a20273" style="position:absolute;left:688.56px;top:68px;">1,138</div><div id="a20275" 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:4.73px"> </div>stock </div><div id="a20280" style="position:absolute;left:407.56px;top:85px;">1,162</div><div id="a20284" style="position:absolute;left:519.4px;top:85px;">—</div><div id="a20288" style="position:absolute;left:595.6px;top:85px;">1,162</div><div id="a20292" style="position:absolute;left:705.36px;top:85px;">—</div><div id="a20294" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:102.1px;">Employee stock purchase plan </div><div id="a20297" style="position:absolute;left:424.36px;top:102.1px;">—</div><div id="a20301" style="position:absolute;left:519.4px;top:102.1px;">24</div><div id="a20305" style="position:absolute;left:612.4px;top:102.1px;">—</div><div id="a20309" style="position:absolute;left:705.36px;top:102.1px;">47</div><div id="a20311" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:119px;">Director stock ownership plan </div><div id="a20314" style="position:absolute;left:424.36px;top:119px;">54</div><div id="a20318" style="position:absolute;left:519.4px;top:119px;">23</div><div id="a20322" style="position:absolute;left:612.4px;top:119px;">94</div><div id="a20326" style="position:absolute;left:705.36px;top:119px;">54</div><div id="a20328" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:136px;">Performance stock units </div><div id="a20331" style="position:absolute;left:417.64px;top:136px;">280</div><div id="a20335" style="position:absolute;left:519.4px;top:136px;">—</div><div id="a20339" style="position:absolute;left:605.68px;top:136px;">280</div><div id="a20343" style="position:absolute;left:705.36px;top:136px;">—</div><div id="a20345" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153px;">Annual incentive plan </div><div id="a20348" style="position:absolute;left:412.68px;top:153px;">(117)</div><div id="a20352" style="position:absolute;left:519.4px;top:153px;">—</div><div id="a20356" style="position:absolute;left:595.6px;top:153px;">2,829</div><div id="a20360" style="position:absolute;left:705.36px;top:153px;">—</div><div id="a20362" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:171px;">Total share-based<div style="display:inline-block;width:4.85px"> </div>compensation expense </div><div id="a20367" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:171px;">$ </div><div id="a20369" style="position:absolute;left:407.56px;top:171px;">2,991</div><div id="a20372" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:171px;">$ </div><div id="a20374" style="position:absolute;left:512.68px;top:171px;">660</div><div id="a20377" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:171px;">$ </div><div id="a20379" style="position:absolute;left:595.6px;top:171px;">7,673</div><div id="a20382" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:171px;">$ </div><div id="a20384" style="position:absolute;left:688.56px;top:171px;">1,672</div></div></div></div><div id="TextBlockContainer130" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:726px;height:155px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a20386" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">Share-based compensation expense is recorded in SG&A,<div style="display:inline-block;width:4.71px"> </div>except for approximately $</div><div id="a20386_80_3" style="position:absolute;left:484.36px;top:0px;">0.3</div><div id="a20386_83_14" style="position:absolute;font-weight:normal;font-style:normal;left:501px;top:0px;"><div style="display:inline-block;width:3.2px"> </div>million and $</div><div id="a20386_97_3" style="position:absolute;left:575.399px;top:0px;">0.8</div><div id="a20386_100_23" style="position:absolute;font-weight:normal;font-style:normal;left:592.08px;top:0px;"><div style="display:inline-block;width:3.36px"> </div>million for the three </div><div id="a20425" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">and six months ended June 30, 2020, respectively,<div style="display:inline-block;width:5.42px"> </div>and less than $</div><div id="a20425_65_3" style="position:absolute;left:355.053px;top:15.4px;">0.1</div><div id="a20425_68_65" style="position:absolute;font-weight:normal;font-style:normal;left:371.693px;top:15.4px;"><div style="display:inline-block;width:3.36px"> </div>million for the six months ended June 30, 2019, recorded within </div><div id="a20473" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Combination, integration and other acquisition-related<div style="display:inline-block;width:4.74px"> </div>expenses.<div style="display:inline-block;width:6.66px"> </div>The increase in total share-based compensation expense for<div style="display:inline-block;width:4.86px"> </div>the six </div><div id="a20511" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">months ended June 30, 2020 includes performance stock<div style="display:inline-block;width:4.73px"> </div>units, annual incentive plan accruals,<div style="display:inline-block;width:4.01px"> </div>and non-elective and elective 401(k) </div><div id="a20553" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.4px;">matching contributions<div style="display:inline-block;width:3.93px"> </div>in stock as components<div style="display:inline-block;width:4px"> </div>of share-based compensation beginning in 2020, described<div style="display:inline-block;width:4.56px"> </div>further below. </div><div id="a20587" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:84.8px;">Stock Options</div><div id="a20590" style="position:absolute;font-weight:normal;font-style:normal;left:78.859px;top:84.8px;"> </div><div id="a20591" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:108px;">During the first quarter of 2020, 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:5.79px"> </div>that are subject </div><div id="a20633" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:123.4px;">only to time-based vesting over a </div><div id="a20633_34_5" style="position:absolute;left:185.253px;top:123.4px;-sec-ix-hidden:ID_921;">three</div><div id="a20633_39_90" style="position:absolute;font-weight:normal;font-style:normal;left:211.973px;top:123.4px;">-year period.<div style="display:inline-block;width:6.92px"> </div>For the purposes of determining the fair value of stock option<div style="display:inline-block;width:4.83px"> </div>awards, the </div><div id="a20679" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:138.7px;">Company used a Black-Scholes option pricing model and<div style="display:inline-block;width:4.72px"> </div>the assumptions set forth in the table below:</div></div><div id="TextBlockContainer134" 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_132_XBRL_TS_f85e2f98f2d940758356070b14f1b46c" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer133" 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="a20714" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">Number of options granted </div><div id="a20717" style="position:absolute;left:373.933px;top:0px;">49,115</div><div id="a20722" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:17px;">Dividend yield </div><div id="a20724" style="position:absolute;left:388.333px;top:17px;">0.99</div><div id="a20726" style="position:absolute;font-weight:normal;font-style:normal;left:416.493px;top:17px;">% </div><div id="a20730" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:34.1px;">Expected volatility </div><div id="a20732" style="position:absolute;left:381.613px;top:34.1px;">31.57</div><div id="a20734" style="position:absolute;font-weight:normal;font-style:normal;left:416.493px;top:34.1px;">% </div><div id="a20738" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51px;">Risk-free interest rate </div><div id="a20742" style="position:absolute;left:388.333px;top:51px;">0.36</div><div id="a20744" style="position:absolute;font-weight:normal;font-style:normal;left:416.493px;top:51px;">% </div><div id="a20748" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;">Expected term (years) </div><div id="a20750" style="position:absolute;left:395.053px;top:68px;">4.0</div></div></div></div><div id="TextBlockContainer136" 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="a20754" 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 June 30, 2020,<div style="display:inline-block;width:3.88px"> </div>unrecognized </div><div id="a20801" 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="a20801_63_3" style="position:absolute;left:346.413px;top:15.4px;">2.2</div><div id="a20801_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="a20839" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">period of </div><div id="a20839_10_3" style="position:absolute;left:56.459px;top:30.7px;">2.2</div><div id="a20839_13_10" style="position:absolute;font-weight:normal;font-style:normal;left:73.098px;top:30.7px;"><div style="display:inline-block;width:3.36px"> </div>years.<div style="display:inline-block;width:6.58px"> </div></div><div id="a20848" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:54.1px;">Restricted Stock Awards<div style="display:inline-block;width:5.03px"> </div>and Restricted Stock Units</div><div id="a20861" style="position:absolute;font-weight:normal;font-style:normal;left:280.013px;top:54.1px;"> </div><div id="a20862" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:77.3px;">During the six months ended June 30, 2020, the Company<div style="display:inline-block;width:4.78px"> </div>granted </div><div id="a20862_63_6" style="position:absolute;left:385.293px;top:77.3px;">27,137</div><div id="a20862_69_34" style="position:absolute;font-weight:normal;font-style:normal;left:421.96px;top:77.3px;"><div style="display:inline-block;width:3.36px"> </div>non-vested restricted shares and </div><div id="a20862_103_5" style="position:absolute;left:599.439px;top:77.3px;">5,804</div><div id="a20862_108_12" style="position:absolute;font-weight:normal;font-style:normal;left:629.359px;top:77.3px;"><div style="display:inline-block;width:3.36px"> </div>non-vested </div><div id="a20903" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:92.6px;">restricted stock units under its LTIP<div style="display:inline-block;width:2.09px"> </div>,<div style="display:inline-block;width:3.4px"> </div>subject to time-based vesting, generally over a three-year<div style="display:inline-block;width:4.71px"> </div>period. The fair value of these grants is </div><div id="a20952" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:108px;">based on the trading price of the Company’s<div style="display:inline-block;width:5.14px"> </div>common stock on the date of grant. The Company adjusts the grant<div style="display:inline-block;width:4.98px"> </div>date fair value of </div><div id="a21001" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:123.4px;">these awards for expected forfeitures based on historical<div style="display:inline-block;width:4.7px"> </div>experience<div style="display:inline-block;width:10.34px"> </div>As of June 30, 2020, unrecognized compensation expense </div><div id="a21035" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:138.7px;">related to the non-vested restricted shares was $</div><div id="a21035_49_3" style="position:absolute;left:259.693px;top:138.7px;">6.7</div><div id="a21035_52_71" style="position:absolute;font-weight:normal;font-style:normal;left:276.493px;top:138.7px;"><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:4.81px"> </div>of </div><div id="a21035_123_3" style="position:absolute;left:658.959px;top:138.7px;">1.9</div><div id="a21035_126_8" style="position:absolute;font-weight:normal;font-style:normal;left:675.759px;top:138.7px;"><div style="display:inline-block;width:3.2px"> </div>years, </div></div><div id="TextBlockContainer138" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:684px;height:31px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21133" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">and unrecognized compensation expense related to non-vested<div style="display:inline-block;width:4.83px"> </div>restricted stock units was $</div><div id="a21133_88_3" style="position:absolute;left:485.48px;top:0px;">1.1</div><div id="a21133_91_34" style="position:absolute;font-weight:normal;font-style:normal;left:502.28px;top:0px;"><div style="display:inline-block;width:3.36px"> </div>million, to be recognized over a </div><div id="a21171" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">weighted average remaining period of </div><div id="a21171_37_3" style="position:absolute;left:210.853px;top:15.4px;">2.3</div><div id="a21171_40_7" style="position:absolute;font-weight:normal;font-style:normal;left:227.533px;top:15.4px;"><div style="display:inline-block;width:3.36px"> </div>years.</div></div><div id="TextBlockContainer140" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:255px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21186" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Performance Stock Units </div><div id="a21192" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.2px;">In March 2020, the Company included performance<div style="display:inline-block;width:1.46px"> </div>-dependent stock awards (“PSUs”) as a component of its LTIP,<div style="display:inline-block;width:7.31px"> </div>which will be </div><div id="a21232" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.6px;">settled in a certain number of shares subject to market<div style="display:inline-block;width:1.38px"> </div>-based and time-based vesting conditions.<div style="display:inline-block;width:7.56px"> </div>The number of fully vested shares </div><div id="a21276" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.9px;">that may ultimately be issued as settlement for each<div style="display:inline-block;width:4.74px"> </div>award may range from </div><div id="a21276_74_1" style="position:absolute;left:408.04px;top:53.9px;">0</div><div id="a21276_75_8" style="position:absolute;font-weight:normal;font-style:normal;left:414.76px;top:53.9px;">% up to </div><div id="a21276_83_3" style="position:absolute;left:459.399px;top:53.9px;">200</div><div id="a21276_86_38" style="position:absolute;font-weight:normal;font-style:normal;left:479.399px;top:53.9px;">% of the target award, subject to the </div><div id="a21325" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">achievement of the Company’s<div style="display:inline-block;width:4.78px"> </div>total shareholder return (“TSR”) relative to the performance<div style="display:inline-block;width:4.8px"> </div>of the Company’s peer<div style="display:inline-block;width:4.72px"> </div>group, the S&P </div><div id="a21363" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">Midcap 400 Materials group.<div style="display:inline-block;width:7.37px"> </div>The service period required for the PSUs is three years and<div style="display:inline-block;width:4.86px"> </div>the TSR measurement period for the PSUs is </div><div id="a21409" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">from January 1, 2020 through December 31, 2022.<div style="display:inline-block;width:7.8px"> </div></div><div id="a21426" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:123.2px;">Compensation expense for PSUs is measured based on<div style="display:inline-block;width:4.74px"> </div>their grant date fair value and is recognized on a straight-line basis over </div><div id="a21471" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:138.6px;">the three-year vesting period.<div style="display:inline-block;width:7.3px"> </div>The grant-date fair value of the PSUs was estimated using a<div style="display:inline-block;width:4.74px"> </div>Monte Carlo simulation on the grant date </div><div id="a21519" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153.9px;">and using the following assumptions: (i) a risk-free<div style="display:inline-block;width:4.73px"> </div>rate of </div><div id="a21519_61_4" style="position:absolute;left:318.733px;top:153.9px;">0.28</div><div id="a21519_65_28" style="position:absolute;font-weight:normal;font-style:normal;left:342.093px;top:153.9px;">%; (ii) an expected term of </div><div id="a21519_93_3" style="position:absolute;left:488.679px;top:153.9px;">3.0</div><div id="a21519_96_37" style="position:absolute;font-weight:normal;font-style:normal;left:505.479px;top:153.9px;"><div style="display:inline-block;width:3.36px"> </div>years; and (iii) a three-year daily </div><div id="a21569" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:169.3px;">historical volatility for each of the companies in the<div style="display:inline-block;width:4.74px"> </div>peer group, including Quaker Houghton.<div style="display:inline-block;width:3.91px"> </div></div><div id="a21598" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:192.7px;">As of June 30, 2020, the Company estimates that it will issue<div style="display:inline-block;width:4.71px"> </div>approximately </div><div id="a21598_76_6" style="position:absolute;left:438.6px;top:192.7px;">25,500</div><div id="a21598_82_50" style="position:absolute;font-weight:normal;font-style:normal;left:475.24px;top:192.7px;"><div style="display:inline-block;width:3.36px"> </div>fully vested shares as of the settlement date of </div><div id="a21644" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:208px;">the award based on the conditions of the PSUs and<div style="display:inline-block;width:4.7px"> </div>Company’s closing stock price<div style="display:inline-block;width:4.63px"> </div>on June 30, 2020.<div style="display:inline-block;width:7.22px"> </div>As of June 30, 2020, there was </div><div id="a21695" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:223.2px;">approximately $</div><div id="a21695_15_3" style="position:absolute;left:91.659px;top:223.2px;">3.1</div><div id="a21695_18_111" style="position:absolute;font-weight:normal;font-style:normal;left:108.293px;top:223.2px;"><div style="display:inline-block;width:3.36px"> </div>million of total unrecognized compensation cost related to PSUs which<div style="display:inline-block;width:4.75px"> </div>the Company expects to recognize over a </div><div id="a21733" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:238.6px;">weighted-average period of </div><div id="a21733_27_3" style="position:absolute;left:154.533px;top:238.6px;">2.7</div><div id="a21733_30_7" style="position:absolute;font-weight:normal;font-style:normal;left:171.173px;top:238.6px;"><div style="display:inline-block;width:3.36px"> </div>years.</div></div><div id="TextBlockContainer142" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:201px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a21746" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Annual Incentive Plan </div><div id="a21752" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">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="a21796" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.7px;">performance-based and time-based vesting conditions.<div style="display:inline-block;width:8.02px"> </div>It is the Company’s current<div style="display:inline-block;width:4.73px"> </div>intention to settle the 2020 AIP in shares, and </div><div id="a21838" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.9px;">therefore, expense associated with the AIP in 2020 will<div style="display:inline-block;width:4.7px"> </div>be recorded as a component of share-based compensation<div style="display:inline-block;width:4.78px"> </div>expense.<div style="display:inline-block;width:6.71px"> </div>The </div><div id="a21878" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">number of fully vested shares that may ultimately<div style="display:inline-block;width:4.7px"> </div>be issued as settlement for each award is subject to the achievement<div style="display:inline-block;width:4.91px"> </div>of the </div><div id="a21922" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">Company’s performance<div style="display:inline-block;width:4.79px"> </div>against certain internal financial and non-financial metrics and<div style="display:inline-block;width:4.8px"> </div>approval by the Company’s Compensation </div><div id="a21955" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">Committee.<div style="display:inline-block;width:3.62px"> </div></div><div id="a21958" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:123.4px;">Compensation expense for the AIP is measured based on the estimated<div style="display:inline-block;width:4.88px"> </div>total value of the award.<div style="display:inline-block;width:7.31px"> </div>The number of shares that will </div><div id="a22003" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:138.7px;">ultimately be issued under the AIP award will be equal<div style="display:inline-block;width:4.83px"> </div>to final value of the award converted into a number of shares based<div style="display:inline-block;width:4.87px"> </div>on the </div><div id="a22053" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153.9px;">trading price of the Company’s<div style="display:inline-block;width:4.72px"> </div>common stock on the date of settlement.<div style="display:inline-block;width:7.59px"> </div>As of June 30, 2020, the Company estimates that it will issue </div><div id="a22102" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:169.3px;">approximately </div><div id="a22102_14_6" style="position:absolute;left:84.939px;top:169.3px;">39,000</div><div id="a22102_20_110" style="position:absolute;font-weight:normal;font-style:normal;left:121.573px;top:169.3px;"><div style="display:inline-block;width:3.36px"> </div>fully vested shares as of the settlement date of the award<div style="display:inline-block;width:4.7px"> </div>based on the conditions of the AIP,<div style="display:inline-block;width:5.72px"> </div>the Company’s </div><div id="a22146" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:184.7px;">projected performance against its performance metrics<div style="display:inline-block;width:4.7px"> </div>and Company’s closing<div style="display:inline-block;width:4.79px"> </div>stock price on June 30, 2020.</div></div><div id="TextBlockContainer144" 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="a22177" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Defined Contribution Plan<div style="display:inline-block;width:3.88px"> </div></div><div id="a22184" 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="a22184_117_2" style="position:absolute;left:694.479px;top:23.4px;">50</div><div id="a22184_119_2" style="position:absolute;font-weight:normal;font-style:normal;left:707.919px;top:23.4px;">% </div><div id="a22226" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.7px;">of the first </div><div id="a22226_13_1" style="position:absolute;left:63.499px;top:38.7px;">6</div><div id="a22226_14_91" style="position:absolute;font-weight:normal;font-style:normal;left:70.219px;top:38.7px;">% 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="a22226_105_1" style="position:absolute;left:568.52px;top:38.7px;">3</div><div id="a22226_106_20" style="position:absolute;font-weight:normal;font-style:normal;left:575.24px;top:38.7px;">% of compensation.<div style="display:inline-block;width:3.64px"> </div></div><div id="a22272" 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="a22309" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">of service equal to </div><div id="a22309_20_1" style="position:absolute;left:106.053px;top:69.3px;">3</div><div id="a22309_21_101" style="position:absolute;font-weight:normal;font-style:normal;left:112.773px;top:69.3px;">% of the eligible participant's compensation.<div style="display:inline-block;width:7.68px"> </div>The Company’s matching contributions<div style="display:inline-block;width:4.94px"> </div>and non-elective </div><div id="a22345" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">contributions may be made in cash or in fully vested shares<div style="display:inline-block;width:4.63px"> </div>of the Company’s common<div style="display:inline-block;width:4.77px"> </div>stock.<div style="display:inline-block;width:6.89px"> </div>Beginning in April 2020,<div style="display:inline-block;width:3.79px"> </div>the Company </div><div id="a22393" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">began matching both non-elective and elective 401(k)<div style="display:inline-block;width:4.8px"> </div>contributions in fully vested shares of its common stock rather than<div style="display:inline-block;width:4.72px"> </div>cash.<div style="display:inline-block;width:6.84px"> </div>For </div><div id="a22436" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">the three and six months ended June 30, 2020, total contributions<div style="display:inline-block;width:4.83px"> </div>were $</div><div id="a22436_72_3" style="position:absolute;left:391.213px;top:115.4px;">1.2</div><div id="a22436_75_9" style="position:absolute;font-weight:normal;font-style:normal;left:407.88px;top:115.4px;"><div style="display:inline-block;width:3.36px"> </div>million.</div></div>

<div id="TextBlockContainer127" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:727px;height:187px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a20210" style="position:absolute;font-weight:bold;font-style:normal;left:386.733px;top:0px;">Three Months Ended </div><div id="a20213" style="position:absolute;font-weight:bold;font-style:normal;left:581.84px;top:0px;">Six Months Ended </div><div id="a20217" style="position:absolute;font-weight:bold;font-style:normal;left:423.72px;top:17px;">June 30, </div><div id="a20220" style="position:absolute;font-weight:bold;font-style:normal;left:610.8px;top:17px;">June 30, </div><div id="a20224" style="position:absolute;font-weight:bold;font-style:normal;left:386.573px;top:34.1px;">2020 </div><div id="a20227" style="position:absolute;font-weight:bold;font-style:normal;left:481.64px;top:34.1px;">2019 </div><div id="a20230" style="position:absolute;font-weight:bold;font-style:normal;left:574.64px;top:34.1px;">2020 </div><div id="a20233" style="position:absolute;font-weight:bold;font-style:normal;left:667.76px;top:34.1px;">2019 </div><div id="a20235" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51px;">Stock options </div><div id="a20237" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:51px;">$ </div><div id="a20239" style="position:absolute;left:417.64px;top:51px;">353</div><div id="a20242" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:51px;">$ </div><div id="a20244" style="position:absolute;left:512.68px;top:51px;">173</div><div id="a20247" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:51px;">$ </div><div id="a20249" style="position:absolute;left:605.68px;top:51px;">785</div><div id="a20252" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:51px;">$ </div><div id="a20254" style="position:absolute;left:698.64px;top:51px;">433</div><div id="a20256" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;">Non-vested restricted stock awards and restricted stock<div style="display:inline-block;width:4.64px"> </div>units </div><div id="a20261" style="position:absolute;left:407.56px;top:68px;">1,259</div><div id="a20265" style="position:absolute;left:512.68px;top:68px;">440</div><div id="a20269" style="position:absolute;left:595.6px;top:68px;">2,523</div><div id="a20273" style="position:absolute;left:688.56px;top:68px;">1,138</div><div id="a20275" 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:4.73px"> </div>stock </div><div id="a20280" style="position:absolute;left:407.56px;top:85px;">1,162</div><div id="a20284" style="position:absolute;left:519.4px;top:85px;">—</div><div id="a20288" style="position:absolute;left:595.6px;top:85px;">1,162</div><div id="a20292" style="position:absolute;left:705.36px;top:85px;">—</div><div id="a20294" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:102.1px;">Employee stock purchase plan </div><div id="a20297" style="position:absolute;left:424.36px;top:102.1px;">—</div><div id="a20301" style="position:absolute;left:519.4px;top:102.1px;">24</div><div id="a20305" style="position:absolute;left:612.4px;top:102.1px;">—</div><div id="a20309" style="position:absolute;left:705.36px;top:102.1px;">47</div><div id="a20311" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:119px;">Director stock ownership plan </div><div id="a20314" style="position:absolute;left:424.36px;top:119px;">54</div><div id="a20318" style="position:absolute;left:519.4px;top:119px;">23</div><div id="a20322" style="position:absolute;left:612.4px;top:119px;">94</div><div id="a20326" style="position:absolute;left:705.36px;top:119px;">54</div><div id="a20328" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:136px;">Performance stock units </div><div id="a20331" style="position:absolute;left:417.64px;top:136px;">280</div><div id="a20335" style="position:absolute;left:519.4px;top:136px;">—</div><div id="a20339" style="position:absolute;left:605.68px;top:136px;">280</div><div id="a20343" style="position:absolute;left:705.36px;top:136px;">—</div><div id="a20345" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153px;">Annual incentive plan </div><div id="a20348" style="position:absolute;left:412.68px;top:153px;">(117)</div><div id="a20352" style="position:absolute;left:519.4px;top:153px;">—</div><div id="a20356" style="position:absolute;left:595.6px;top:153px;">2,829</div><div id="a20360" style="position:absolute;left:705.36px;top:153px;">—</div><div id="a20362" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:171px;">Total share-based<div style="display:inline-block;width:4.85px"> </div>compensation expense </div><div id="a20367" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:171px;">$ </div><div id="a20369" style="position:absolute;left:407.56px;top:171px;">2,991</div><div id="a20372" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:171px;">$ </div><div id="a20374" style="position:absolute;left:512.68px;top:171px;">660</div><div id="a20377" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:171px;">$ </div><div id="a20379" style="position:absolute;left:595.6px;top:171px;">7,673</div><div id="a20382" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:171px;">$ </div><div id="a20384" style="position:absolute;left:688.56px;top:171px;">1,672</div></div>

353000

173000

785000

433000

1259000

440000

2523000

1138000

1162000

24000

47000

54000

23000

94000

54000

280000

-117000

2829000

2991000

660000

7673000

1672000

300000

800000

100000

<div id="TextBlockContainer133" 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="a20714" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">Number of options granted </div><div id="a20717" style="position:absolute;left:373.933px;top:0px;">49,115</div><div id="a20722" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:17px;">Dividend yield </div><div id="a20724" style="position:absolute;left:388.333px;top:17px;">0.99</div><div id="a20726" style="position:absolute;font-weight:normal;font-style:normal;left:416.493px;top:17px;">% </div><div id="a20730" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:34.1px;">Expected volatility </div><div id="a20732" style="position:absolute;left:381.613px;top:34.1px;">31.57</div><div id="a20734" style="position:absolute;font-weight:normal;font-style:normal;left:416.493px;top:34.1px;">% </div><div id="a20738" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51px;">Risk-free interest rate </div><div id="a20742" style="position:absolute;left:388.333px;top:51px;">0.36</div><div id="a20744" style="position:absolute;font-weight:normal;font-style:normal;left:416.493px;top:51px;">% </div><div id="a20748" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;">Expected term (years) </div><div id="a20750" style="position:absolute;left:395.053px;top:68px;">4.0</div></div>

49115

0.0099

0.3157

0.0036

P4Y

2200000

P2Y2M12D

27137

5804

6700000

P1Y10M24D

1100000

P2Y3M18D

0 2

0.0028

P3Y

25500

3100000

P2Y8M12D

39000

0.50

0.06

0.03 0.03

1200000

<div id="TextBlockContainer146" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:671px;height:39px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22518" 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="a22534" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">The components of net periodic benefit cost for the<div style="display:inline-block;width:4.72px"> </div>three and six months ended June 30, 2020 and 2019 are as follows:</div></div><div id="TextBlockContainer150" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:727px;height:203px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_148_XBRL_TS_193861772a7d4f90ac725593b553e579" 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:727px;height:203px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22580" style="position:absolute;font-weight:bold;font-style:normal;left:222.253px;top:0px;">Three Months Ended June 30, </div><div id="a22583" style="position:absolute;font-weight:bold;font-style:normal;left:510.44px;top:0px;">Six Months Ended June 30, </div><div id="a22593" style="position:absolute;font-weight:bold;font-style:normal;left:361.453px;top:17px;">Other </div><div id="a22602" style="position:absolute;font-weight:bold;font-style:normal;left:641.52px;top:17px;">Other </div><div id="a22612" style="position:absolute;font-weight:bold;font-style:normal;left:335.853px;top:34.1px;">Postretirement </div><div id="a22621" style="position:absolute;font-weight:bold;font-style:normal;left:615.92px;top:34.1px;">Postretirement </div><div id="a22625" style="position:absolute;font-weight:bold;font-style:normal;left:191.493px;top:51px;">Pension Benefits </div><div id="a22628" style="position:absolute;font-weight:bold;font-style:normal;left:355.533px;top:51px;">Benefits </div><div id="a22631" style="position:absolute;font-weight:bold;font-style:normal;left:471.56px;top:51px;">Pension Benefits </div><div id="a22634" style="position:absolute;font-weight:bold;font-style:normal;left:635.6px;top:51px;">Benefits </div><div id="a22639" style="position:absolute;font-weight:bold;font-style:normal;left:195.173px;top:68px;">2020 </div><div id="a22643" style="position:absolute;font-weight:bold;font-style:normal;left:265.133px;top:68px;">2019 </div><div id="a22647" style="position:absolute;font-weight:bold;font-style:normal;left:335.213px;top:68px;">2020 </div><div id="a22651" style="position:absolute;font-weight:bold;font-style:normal;left:405.16px;top:68px;">2019 </div><div id="a22655" style="position:absolute;font-weight:bold;font-style:normal;left:475.24px;top:68px;">2020 </div><div id="a22659" style="position:absolute;font-weight:bold;font-style:normal;left:545.16px;top:68px;">2019 </div><div id="a22663" style="position:absolute;font-weight:bold;font-style:normal;left:615.28px;top:68px;">2020 </div><div id="a22667" style="position:absolute;font-weight:bold;font-style:normal;left:685.2px;top:68px;">2019 </div><div id="a22669" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:85px;">Service cost </div><div id="a22671" style="position:absolute;font-weight:normal;font-style:normal;left:174.373px;top:85px;">$ </div><div id="a22673" style="position:absolute;left:198.533px;top:85px;">1,164</div><div id="a22676" style="position:absolute;font-weight:normal;font-style:normal;left:244.493px;top:85px;">$ </div><div id="a22678" style="position:absolute;left:278.573px;top:85px;">978</div><div id="a22681" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:85px;">$ </div><div id="a22683" style="position:absolute;left:361.933px;top:85px;">1</div><div id="a22686" style="position:absolute;font-weight:normal;font-style:normal;left:384.493px;top:85px;">$ </div><div id="a22688" style="position:absolute;left:431.88px;top:85px;">2</div><div id="a22691" style="position:absolute;font-weight:normal;font-style:normal;left:454.44px;top:85px;">$ </div><div id="a22693" style="position:absolute;left:478.6px;top:85px;">2,338</div><div id="a22696" style="position:absolute;font-weight:normal;font-style:normal;left:524.52px;top:85px;">$ </div><div id="a22698" style="position:absolute;left:548.52px;top:85px;">1,963</div><div id="a22701" style="position:absolute;font-weight:normal;font-style:normal;left:594.48px;top:85px;">$ </div><div id="a22703" style="position:absolute;left:642px;top:85px;">3</div><div id="a22706" style="position:absolute;font-weight:normal;font-style:normal;left:664.56px;top:85px;">$ </div><div id="a22708" style="position:absolute;left:711.92px;top:85px;">4</div><div id="a22710" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:102.1px;">Interest cost </div><div id="a22713" style="position:absolute;left:198.533px;top:102.1px;">1,486</div><div id="a22717" style="position:absolute;left:268.493px;top:102.1px;">1,105</div><div id="a22721" style="position:absolute;left:355.373px;top:102.1px;">26</div><div id="a22725" style="position:absolute;left:425.32px;top:102.1px;">36</div><div id="a22729" style="position:absolute;left:478.6px;top:102.1px;">3,255</div><div id="a22733" style="position:absolute;left:548.52px;top:102.1px;">2,216</div><div id="a22737" style="position:absolute;left:635.44px;top:102.1px;">52</div><div id="a22741" style="position:absolute;left:705.36px;top:102.1px;">71</div><div id="a22743" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:119px;">Expected return on plan assets </div><div id="a22746" style="position:absolute;left:193.733px;top:119px;">(1,761)</div><div id="a22750" style="position:absolute;left:273.613px;top:119px;">(978)</div><div id="a22754" style="position:absolute;left:355.373px;top:119px;">—</div><div id="a22758" style="position:absolute;left:425.32px;top:119px;">—</div><div id="a22762" style="position:absolute;left:473.8px;top:119px;">(3,720)</div><div id="a22766" style="position:absolute;left:543.72px;top:119px;">(1,962)</div><div id="a22770" style="position:absolute;left:635.44px;top:119px;">—</div><div id="a22774" style="position:absolute;left:705.36px;top:119px;">—</div><div id="a22776" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:136px;">Settlement charge </div><div id="a22779" style="position:absolute;left:215.333px;top:136px;">—</div><div id="a22783" style="position:absolute;left:285.293px;top:136px;">—</div><div id="a22787" style="position:absolute;left:355.373px;top:136px;">—</div><div id="a22791" style="position:absolute;left:425.32px;top:136px;">—</div><div id="a22795" style="position:absolute;left:472.04px;top:136px;">22,667</div><div id="a22799" style="position:absolute;left:565.32px;top:136px;">—</div><div id="a22803" style="position:absolute;left:635.44px;top:136px;">—</div><div id="a22807" style="position:absolute;left:705.36px;top:136px;">—</div><div id="a22809" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153px;">Actuarial loss amortization </div><div id="a22812" style="position:absolute;left:208.613px;top:153px;">615</div><div id="a22816" style="position:absolute;left:278.573px;top:153px;">773</div><div id="a22820" style="position:absolute;left:355.373px;top:153px;">16</div><div id="a22824" style="position:absolute;left:425.32px;top:153px;">—</div><div id="a22828" style="position:absolute;left:478.6px;top:153px;">1,662</div><div id="a22832" style="position:absolute;left:548.52px;top:153px;">1,549</div><div id="a22836" style="position:absolute;left:635.44px;top:153px;">31</div><div id="a22840" style="position:absolute;left:705.36px;top:153px;">—</div><div id="a22842" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:170.1px;">Prior service cost amortization </div><div id="a22845" style="position:absolute;left:210.373px;top:170.1px;">(41)</div><div id="a22849" style="position:absolute;left:280.333px;top:170.1px;">(41)</div><div id="a22853" style="position:absolute;left:355.373px;top:170.1px;">—</div><div id="a22857" style="position:absolute;left:425.32px;top:170.1px;">—</div><div id="a22861" style="position:absolute;left:490.44px;top:170.1px;">(81)</div><div id="a22865" style="position:absolute;left:560.36px;top:170.1px;">(83)</div><div id="a22869" style="position:absolute;left:635.44px;top:170.1px;">—</div><div id="a22873" style="position:absolute;left:705.36px;top:170.1px;">—</div><div id="a22875" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:187.1px;">Net periodic benefit cost </div><div id="a22878" style="position:absolute;font-weight:normal;font-style:normal;left:174.373px;top:187.1px;">$ </div><div id="a22880" style="position:absolute;left:198.533px;top:187.1px;">1,463</div><div id="a22883" style="position:absolute;font-weight:normal;font-style:normal;left:244.493px;top:187.1px;">$ </div><div id="a22885" style="position:absolute;left:268.493px;top:187.1px;">1,837</div><div id="a22888" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:187.1px;">$ </div><div id="a22890" style="position:absolute;left:355.373px;top:187.1px;">43</div><div id="a22893" style="position:absolute;font-weight:normal;font-style:normal;left:384.493px;top:187.1px;">$ </div><div id="a22895" style="position:absolute;left:425.32px;top:187.1px;">38</div><div id="a22898" style="position:absolute;font-weight:normal;font-style:normal;left:454.44px;top:187.1px;">$ </div><div id="a22900" style="position:absolute;left:472.04px;top:187.1px;">26,121</div><div id="a22903" style="position:absolute;font-weight:normal;font-style:normal;left:524.52px;top:187.1px;">$ </div><div id="a22905" style="position:absolute;left:548.52px;top:187.1px;">3,683</div><div id="a22908" style="position:absolute;font-weight:normal;font-style:normal;left:594.48px;top:187.1px;">$ </div><div id="a22910" style="position:absolute;left:635.44px;top:187.1px;">86</div><div id="a22913" style="position:absolute;font-weight:normal;font-style:normal;left:664.56px;top:187.1px;">$ </div><div id="a22915" style="position:absolute;left:705.36px;top:187.1px;">75</div></div></div></div><div id="TextBlockContainer152" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:185px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22917" style="position:absolute;left:28.427px;top:0px;">In the fourth quarter of 2018, the Company began the process of terminating its Legacy Quaker non-contributory U.S. pension </div><div id="a22957" style="position:absolute;left:4.427px;top:15.4px;">plan (“Legacy Quaker U.S. Pension Plan”). During the third quarter of 2019, the Company received a favorable termination </div><div id="a22993" style="position:absolute;left:4.427px;top:30.6px;">determination letter from the Internal Revenue Service (“I.R.S.”) and amended the Legacy Quaker U.S. Pension Plan to comply with </div><div id="a23032" style="position:absolute;left:4.427px;top:45.9px;">final regulations of the Internal Revenue Code. The Company completed the Legacy Quaker U.S. Pension Plan termination during the </div><div id="a23070" style="position:absolute;left:4.427px;top:61.3px;">first quarter of 2020. In order to terminate the Legacy Quaker U.S. Pension Plan in accordance with I.R.S. and Pension Benefit </div><div id="a23113" style="position:absolute;left:4.427px;top:76.6px;">Guaranty Corporation requirements, the Company was required to fully fund the Legacy Quaker U.S. Pension Plan on a termination </div><div id="a23151" style="position:absolute;left:4.427px;top:92px;">basis and the amount necessary to do so was approximately $1.8 million, subject to final true up adjustments. In July 2020, the </div><div id="a23197" style="position:absolute;left:4.427px;top:107.2px;">Company finalized the amount of the liability and related annuity payments and expects to receive a refund in premium of </div><div id="a23237" style="position:absolute;left:4.427px;top:122.6px;">approximately $2 million in August 2020. In addition, the Company recorded a non-cash pension settlement charge at plan </div><div id="a23276" style="position:absolute;left:4.427px;top:137.9px;">termination of approximately $22.7 million. This settlement charge included the immediate recognition into expense of the related </div><div id="a23310" style="position:absolute;left:4.427px;top:153.3px;">unrecognized losses within accumulated other comprehensive (loss) income (“AOCI”) on the balance sheet as of the plan termination </div><div id="a23347" style="position:absolute;left:4.427px;top:168.6px;">date.</div></div><div id="TextBlockContainer154" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:129px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23350" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Employer Contributions </div><div id="a23355" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:20.6px;">The Company previously disclosed in its 2019 Form 10-K<div style="display:inline-block;width:4.78px"> </div>that it expected to make minimum cash contributions of $</div><div id="a23355_111_4" style="position:absolute;left:650.639px;top:20.6px;">10.0</div><div id="a23355_115_9" style="position:absolute;font-weight:normal;font-style:normal;left:673.999px;top:20.6px;"><div style="display:inline-block;width:3.36px"> </div>million </div><div id="a23397" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:36px;">to its U.S. and foreign pension plans and approximately<div style="display:inline-block;width:4.75px"> </div>$</div><div id="a23397_57_3" style="position:absolute;left:311.533px;top:36px;">0.4</div><div id="a23397_60_75" style="position:absolute;font-weight:normal;font-style:normal;left:328.173px;top:36px;"><div style="display:inline-block;width:3.36px"> </div>million to its other postretirement benefit plans in 2020. As a result<div style="display:inline-block;width:4.8px"> </div>of </div><div id="a23443" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51.4px;">certain current year pension plan funding relief provided<div style="display:inline-block;width:4.82px"> </div>by the Coronavirus Aid, Relief, and Economic Security<div style="display:inline-block;width:4.75px"> </div>Act (the “CARES </div><div id="a23482" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:66.7px;">Act”) enacted into law on March 27, 2020, the Company<div style="display:inline-block;width:4.75px"> </div>now expects to make minimum cash contributions of<div style="display:inline-block;width:4.74px"> </div>$</div><div id="a23482_105_3" style="position:absolute;left:603.919px;top:66.7px;">8.0</div><div id="a23482_108_21" style="position:absolute;font-weight:normal;font-style:normal;left:620.719px;top:66.7px;"><div style="display:inline-block;width:3.2px"> </div>million to its U.S. </div><div id="a23528" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.9px;">and foreign pension plans in 2020.<div style="display:inline-block;width:7.71px"> </div>As of June 30, 2020, $</div><div id="a23528_58_3" style="position:absolute;left:316.173px;top:81.9px;">4.9</div><div id="a23528_61_14" style="position:absolute;font-weight:normal;font-style:normal;left:332.653px;top:81.9px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a23528_75_3" style="position:absolute;left:407.239px;top:81.9px;">0.2</div><div id="a23528_78_48" style="position:absolute;font-weight:normal;font-style:normal;left:423.879px;top:81.9px;"><div style="display:inline-block;width:3.36px"> </div>million of contributions have been made to the </div><div id="a23575" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:97.3px;">Company’s U.S. and foreign<div style="display:inline-block;width:4.75px"> </div>pension plans and its other postretirement benefit plans, respectively.</div><div id="a23600" style="position:absolute;font-size:16px;font-weight:normal;font-style:normal;left:529.64px;top:94.8px;"> </div><div id="a23601" style="position:absolute;font-weight:normal;font-style:normal;left:533.64px;top:97.3px;">This excludes the $</div><div id="a23601_19_3" style="position:absolute;left:637.04px;top:97.3px;">1.8</div><div id="a23601_22_12" style="position:absolute;font-weight:normal;font-style:normal;left:653.68px;top:97.3px;"><div style="display:inline-block;width:3.36px"> </div>million of </div><div id="a23613" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:112.6px;">additional funding made in the first quarter of 2020, as required,<div style="display:inline-block;width:4.97px"> </div>to terminate the Legacy Quaker U.S. Pension Plan, noted above.</div></div>

<div id="TextBlockContainer149" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:727px;height:203px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a22580" style="position:absolute;font-weight:bold;font-style:normal;left:222.253px;top:0px;">Three Months Ended June 30, </div><div id="a22583" style="position:absolute;font-weight:bold;font-style:normal;left:510.44px;top:0px;">Six Months Ended June 30, </div><div id="a22593" style="position:absolute;font-weight:bold;font-style:normal;left:361.453px;top:17px;">Other </div><div id="a22602" style="position:absolute;font-weight:bold;font-style:normal;left:641.52px;top:17px;">Other </div><div id="a22612" style="position:absolute;font-weight:bold;font-style:normal;left:335.853px;top:34.1px;">Postretirement </div><div id="a22621" style="position:absolute;font-weight:bold;font-style:normal;left:615.92px;top:34.1px;">Postretirement </div><div id="a22625" style="position:absolute;font-weight:bold;font-style:normal;left:191.493px;top:51px;">Pension Benefits </div><div id="a22628" style="position:absolute;font-weight:bold;font-style:normal;left:355.533px;top:51px;">Benefits </div><div id="a22631" style="position:absolute;font-weight:bold;font-style:normal;left:471.56px;top:51px;">Pension Benefits </div><div id="a22634" style="position:absolute;font-weight:bold;font-style:normal;left:635.6px;top:51px;">Benefits </div><div id="a22639" style="position:absolute;font-weight:bold;font-style:normal;left:195.173px;top:68px;">2020 </div><div id="a22643" style="position:absolute;font-weight:bold;font-style:normal;left:265.133px;top:68px;">2019 </div><div id="a22647" style="position:absolute;font-weight:bold;font-style:normal;left:335.213px;top:68px;">2020 </div><div id="a22651" style="position:absolute;font-weight:bold;font-style:normal;left:405.16px;top:68px;">2019 </div><div id="a22655" style="position:absolute;font-weight:bold;font-style:normal;left:475.24px;top:68px;">2020 </div><div id="a22659" style="position:absolute;font-weight:bold;font-style:normal;left:545.16px;top:68px;">2019 </div><div id="a22663" style="position:absolute;font-weight:bold;font-style:normal;left:615.28px;top:68px;">2020 </div><div id="a22667" style="position:absolute;font-weight:bold;font-style:normal;left:685.2px;top:68px;">2019 </div><div id="a22669" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:85px;">Service cost </div><div id="a22671" style="position:absolute;font-weight:normal;font-style:normal;left:174.373px;top:85px;">$ </div><div id="a22673" style="position:absolute;left:198.533px;top:85px;">1,164</div><div id="a22676" style="position:absolute;font-weight:normal;font-style:normal;left:244.493px;top:85px;">$ </div><div id="a22678" style="position:absolute;left:278.573px;top:85px;">978</div><div id="a22681" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:85px;">$ </div><div id="a22683" style="position:absolute;left:361.933px;top:85px;">1</div><div id="a22686" style="position:absolute;font-weight:normal;font-style:normal;left:384.493px;top:85px;">$ </div><div id="a22688" style="position:absolute;left:431.88px;top:85px;">2</div><div id="a22691" style="position:absolute;font-weight:normal;font-style:normal;left:454.44px;top:85px;">$ </div><div id="a22693" style="position:absolute;left:478.6px;top:85px;">2,338</div><div id="a22696" style="position:absolute;font-weight:normal;font-style:normal;left:524.52px;top:85px;">$ </div><div id="a22698" style="position:absolute;left:548.52px;top:85px;">1,963</div><div id="a22701" style="position:absolute;font-weight:normal;font-style:normal;left:594.48px;top:85px;">$ </div><div id="a22703" style="position:absolute;left:642px;top:85px;">3</div><div id="a22706" style="position:absolute;font-weight:normal;font-style:normal;left:664.56px;top:85px;">$ </div><div id="a22708" style="position:absolute;left:711.92px;top:85px;">4</div><div id="a22710" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:102.1px;">Interest cost </div><div id="a22713" style="position:absolute;left:198.533px;top:102.1px;">1,486</div><div id="a22717" style="position:absolute;left:268.493px;top:102.1px;">1,105</div><div id="a22721" style="position:absolute;left:355.373px;top:102.1px;">26</div><div id="a22725" style="position:absolute;left:425.32px;top:102.1px;">36</div><div id="a22729" style="position:absolute;left:478.6px;top:102.1px;">3,255</div><div id="a22733" style="position:absolute;left:548.52px;top:102.1px;">2,216</div><div id="a22737" style="position:absolute;left:635.44px;top:102.1px;">52</div><div id="a22741" style="position:absolute;left:705.36px;top:102.1px;">71</div><div id="a22743" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:119px;">Expected return on plan assets </div><div id="a22746" style="position:absolute;left:193.733px;top:119px;">(1,761)</div><div id="a22750" style="position:absolute;left:273.613px;top:119px;">(978)</div><div id="a22754" style="position:absolute;left:355.373px;top:119px;">—</div><div id="a22758" style="position:absolute;left:425.32px;top:119px;">—</div><div id="a22762" style="position:absolute;left:473.8px;top:119px;">(3,720)</div><div id="a22766" style="position:absolute;left:543.72px;top:119px;">(1,962)</div><div id="a22770" style="position:absolute;left:635.44px;top:119px;">—</div><div id="a22774" style="position:absolute;left:705.36px;top:119px;">—</div><div id="a22776" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:136px;">Settlement charge </div><div id="a22779" style="position:absolute;left:215.333px;top:136px;">—</div><div id="a22783" style="position:absolute;left:285.293px;top:136px;">—</div><div id="a22787" style="position:absolute;left:355.373px;top:136px;">—</div><div id="a22791" style="position:absolute;left:425.32px;top:136px;">—</div><div id="a22795" style="position:absolute;left:472.04px;top:136px;">22,667</div><div id="a22799" style="position:absolute;left:565.32px;top:136px;">—</div><div id="a22803" style="position:absolute;left:635.44px;top:136px;">—</div><div id="a22807" style="position:absolute;left:705.36px;top:136px;">—</div><div id="a22809" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153px;">Actuarial loss amortization </div><div id="a22812" style="position:absolute;left:208.613px;top:153px;">615</div><div id="a22816" style="position:absolute;left:278.573px;top:153px;">773</div><div id="a22820" style="position:absolute;left:355.373px;top:153px;">16</div><div id="a22824" style="position:absolute;left:425.32px;top:153px;">—</div><div id="a22828" style="position:absolute;left:478.6px;top:153px;">1,662</div><div id="a22832" style="position:absolute;left:548.52px;top:153px;">1,549</div><div id="a22836" style="position:absolute;left:635.44px;top:153px;">31</div><div id="a22840" style="position:absolute;left:705.36px;top:153px;">—</div><div id="a22842" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:170.1px;">Prior service cost amortization </div><div id="a22845" style="position:absolute;left:210.373px;top:170.1px;">(41)</div><div id="a22849" style="position:absolute;left:280.333px;top:170.1px;">(41)</div><div id="a22853" style="position:absolute;left:355.373px;top:170.1px;">—</div><div id="a22857" style="position:absolute;left:425.32px;top:170.1px;">—</div><div id="a22861" style="position:absolute;left:490.44px;top:170.1px;">(81)</div><div id="a22865" style="position:absolute;left:560.36px;top:170.1px;">(83)</div><div id="a22869" style="position:absolute;left:635.44px;top:170.1px;">—</div><div id="a22873" style="position:absolute;left:705.36px;top:170.1px;">—</div><div id="a22875" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:187.1px;">Net periodic benefit cost </div><div id="a22878" style="position:absolute;font-weight:normal;font-style:normal;left:174.373px;top:187.1px;">$ </div><div id="a22880" style="position:absolute;left:198.533px;top:187.1px;">1,463</div><div id="a22883" style="position:absolute;font-weight:normal;font-style:normal;left:244.493px;top:187.1px;">$ </div><div id="a22885" style="position:absolute;left:268.493px;top:187.1px;">1,837</div><div id="a22888" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:187.1px;">$ </div><div id="a22890" style="position:absolute;left:355.373px;top:187.1px;">43</div><div id="a22893" style="position:absolute;font-weight:normal;font-style:normal;left:384.493px;top:187.1px;">$ </div><div id="a22895" style="position:absolute;left:425.32px;top:187.1px;">38</div><div id="a22898" style="position:absolute;font-weight:normal;font-style:normal;left:454.44px;top:187.1px;">$ </div><div id="a22900" style="position:absolute;left:472.04px;top:187.1px;">26,121</div><div id="a22903" style="position:absolute;font-weight:normal;font-style:normal;left:524.52px;top:187.1px;">$ </div><div id="a22905" style="position:absolute;left:548.52px;top:187.1px;">3,683</div><div id="a22908" style="position:absolute;font-weight:normal;font-style:normal;left:594.48px;top:187.1px;">$ </div><div id="a22910" style="position:absolute;left:635.44px;top:187.1px;">86</div><div id="a22913" style="position:absolute;font-weight:normal;font-style:normal;left:664.56px;top:187.1px;">$ </div><div id="a22915" style="position:absolute;left:705.36px;top:187.1px;">75</div></div>

1164000

978000

1000

2000

2338000

1963000

3000

4000

1486000

1105000

26000

36000

3255000

2216000

52000

71000

1761000

978000

3720000

1962000

-22667000

-615000

-773000

-16000

-1662000

-1549000

-31000

-41000

-81000

-83000

1463000

1837000

43000

38000

26121000

3683000

86000

75000

In the fourth quarter of 2018, the Company began the process of terminating its Legacy Quaker non-contributory U.S. pension plan (“Legacy Quaker U.S. Pension Plan”). During the third quarter of 2019, the Company received a favorable termination determination letter from the Internal Revenue Service (“I.R.S.”) and amended the Legacy Quaker U.S. Pension Plan to comply with final regulations of the Internal Revenue Code. The Company completed the Legacy Quaker U.S. Pension Plan termination during the first quarter of 2020. In order to terminate the Legacy Quaker U.S. Pension Plan in accordance with I.R.S. and Pension Benefit Guaranty Corporation requirements, the Company was required to fully fund the Legacy Quaker U.S. Pension Plan on a termination basis and the amount necessary to do so was approximately $1.8 million, subject to final true up adjustments. In July 2020, the Company finalized the amount of the liability and related annuity payments and expects to receive a refund in premium of approximately $2 million in August 2020. In addition, the Company recorded a non-cash pension settlement charge at plan termination of approximately $22.7 million. This settlement charge included the immediate recognition into expense of the related unrecognized losses within accumulated other comprehensive (loss) income (“AOCI”) on the balance sheet as of the plan termination date.

1800000

2000000

22700000

10000000.0

400000

8000000.0

4900000

200000

1800000

<div id="TextBlockContainer156" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:694px;height:37px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23655" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 10 – Other (Expense) Income, Net</div><div id="a23668" style="position:absolute;font-weight:normal;font-style:normal;left:227.053px;top:0px;"> </div><div id="a23669" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:20.8px;">The components of other (expense) income, net, for the<div style="display:inline-block;width:4.74px"> </div>three and six months ended June 30, 2020 and 2019 are as follows:</div></div><div id="TextBlockContainer160" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:186px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_158_XBRL_TS_0140e58fa29b426da51e6803a5fe8267" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer159" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:186px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23716" style="position:absolute;font-weight:bold;font-style:normal;left:384.973px;top:0px;">Three Months Ended </div><div id="a23719" style="position:absolute;font-weight:bold;font-style:normal;left:580.08px;top:0px;">Six Months Ended </div><div id="a23723" style="position:absolute;font-weight:bold;font-style:normal;left:422.12px;top:17px;">June 30, </div><div id="a23726" style="position:absolute;font-weight:bold;font-style:normal;left:609.04px;top:17px;">June 30, </div><div id="a23730" style="position:absolute;font-weight:bold;font-style:normal;left:384.813px;top:33.9px;">2020 </div><div id="a23733" style="position:absolute;font-weight:bold;font-style:normal;left:479.88px;top:33.9px;">2019 </div><div id="a23736" style="position:absolute;font-weight:bold;font-style:normal;left:572.88px;top:33.9px;">2020 </div><div id="a23739" style="position:absolute;font-weight:bold;font-style:normal;left:665.84px;top:33.9px;">2019 </div><div id="a23741" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51.1px;">Income from third party license fees </div><div id="a23743" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:51.1px;">$ </div><div id="a23745" style="position:absolute;left:414.12px;top:51.1px;">208</div><div id="a23748" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:51.1px;">$ </div><div id="a23750" style="position:absolute;left:509px;top:51.1px;">193</div><div id="a23753" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:51.1px;">$ </div><div id="a23755" style="position:absolute;left:602.16px;top:51.1px;">512</div><div id="a23758" style="position:absolute;font-weight:normal;font-style:normal;left:639.44px;top:51.1px;">$ </div><div id="a23760" style="position:absolute;left:695.12px;top:51.1px;">413</div><div id="a23762" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;">Foreign exchange losses, net </div><div id="a23765" style="position:absolute;left:399.24px;top:68px;">(2,004)</div><div id="a23769" style="position:absolute;left:504.04px;top:68px;">(144)</div><div id="a23773" style="position:absolute;left:587.28px;top:68px;">(1,183)</div><div id="a23777" style="position:absolute;left:690.16px;top:68px;">(381)</div><div id="a23779" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:85px;">(Loss) gain on fixed asset disposals, net </div><div id="a23784" style="position:absolute;left:415.88px;top:85px;">(83)</div><div id="a23788" style="position:absolute;left:515.72px;top:85px;">30</div><div id="a23792" style="position:absolute;left:603.92px;top:85px;">(81)</div><div id="a23796" style="position:absolute;left:701.84px;top:85px;">39</div><div id="a23798" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:102px;">Non-income tax refunds and other related credits </div><div id="a23803" style="position:absolute;left:414.12px;top:102px;">832</div><div id="a23807" style="position:absolute;left:509px;top:102px;">813</div><div id="a23811" style="position:absolute;left:592.08px;top:102px;">2,131</div><div id="a23815" style="position:absolute;left:695.12px;top:102px;">965</div><div id="a23817" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:119.1px;">Pension and postretirement benefit costs,<div style="display:inline-block;width:4.34px"> </div></div><div id="a23830" style="position:absolute;font-weight:normal;font-style:normal;left:13.387px;top:136px;">non-service components </div><div id="a23835" style="position:absolute;left:409.16px;top:136px;">(341)</div><div id="a23839" style="position:absolute;left:504.04px;top:136px;">(895)</div><div id="a23843" style="position:absolute;left:580.56px;top:136px;">(23,866)</div><div id="a23847" style="position:absolute;left:680.24px;top:136px;">(1,791)</div><div id="a23849" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153px;">Other non-operating income, net </div><div id="a23855" style="position:absolute;left:414.12px;top:153px;">395</div><div id="a23859" style="position:absolute;left:515.72px;top:153px;">46</div><div id="a23863" style="position:absolute;left:602.16px;top:153px;">319</div><div id="a23867" style="position:absolute;left:695.12px;top:153px;">163</div><div id="a23869" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:170px;">Total other<div style="display:inline-block;width:4.7px"> </div>(expense) income, net </div><div id="a23871" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:170px;">$ </div><div id="a23873" style="position:absolute;left:409.16px;top:170px;">(993)</div><div id="a23876" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:170px;">$ </div><div id="a23878" style="position:absolute;left:515.72px;top:170px;">43</div><div id="a23881" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:170px;">$ </div><div id="a23883" style="position:absolute;left:580.56px;top:170px;">(22,168)</div><div id="a23886" style="position:absolute;font-weight:normal;font-style:normal;left:639.44px;top:170px;">$ </div><div id="a23888" style="position:absolute;left:690.16px;top:170px;">(592)</div></div></div></div><div id="TextBlockContainer162" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:703px;height:47px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23890" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">Pension and postretirement benefit costs, non-service components<div style="display:inline-block;width:4.86px"> </div>during the six months ended June 30, 2020 includes<div style="display:inline-block;width:4.7px"> </div>$</div><div id="a23890_117_4" style="position:absolute;left:670.799px;top:0px;">22.7</div><div id="a23890_121_1" style="position:absolute;font-weight:normal;font-style:normal;left:694.159px;top:0px;"> </div><div id="a23927" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">million related to the Legacy Quaker U.S. Pension<div style="display:inline-block;width:4.75px"> </div>Plan non-cash settlement charge described in Note<div style="display:inline-block;width:4.61px"> </div>9 of Notes to Condensed </div><div id="a23969" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Consolidated Financial Statements.</div></div>

<div id="TextBlockContainer159" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:186px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a23716" style="position:absolute;font-weight:bold;font-style:normal;left:384.973px;top:0px;">Three Months Ended </div><div id="a23719" style="position:absolute;font-weight:bold;font-style:normal;left:580.08px;top:0px;">Six Months Ended </div><div id="a23723" style="position:absolute;font-weight:bold;font-style:normal;left:422.12px;top:17px;">June 30, </div><div id="a23726" style="position:absolute;font-weight:bold;font-style:normal;left:609.04px;top:17px;">June 30, </div><div id="a23730" style="position:absolute;font-weight:bold;font-style:normal;left:384.813px;top:33.9px;">2020 </div><div id="a23733" style="position:absolute;font-weight:bold;font-style:normal;left:479.88px;top:33.9px;">2019 </div><div id="a23736" style="position:absolute;font-weight:bold;font-style:normal;left:572.88px;top:33.9px;">2020 </div><div id="a23739" style="position:absolute;font-weight:bold;font-style:normal;left:665.84px;top:33.9px;">2019 </div><div id="a23741" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51.1px;">Income from third party license fees </div><div id="a23743" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:51.1px;">$ </div><div id="a23745" style="position:absolute;left:414.12px;top:51.1px;">208</div><div id="a23748" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:51.1px;">$ </div><div id="a23750" style="position:absolute;left:509px;top:51.1px;">193</div><div id="a23753" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:51.1px;">$ </div><div id="a23755" style="position:absolute;left:602.16px;top:51.1px;">512</div><div id="a23758" style="position:absolute;font-weight:normal;font-style:normal;left:639.44px;top:51.1px;">$ </div><div id="a23760" style="position:absolute;left:695.12px;top:51.1px;">413</div><div id="a23762" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;">Foreign exchange losses, net </div><div id="a23765" style="position:absolute;left:399.24px;top:68px;">(2,004)</div><div id="a23769" style="position:absolute;left:504.04px;top:68px;">(144)</div><div id="a23773" style="position:absolute;left:587.28px;top:68px;">(1,183)</div><div id="a23777" style="position:absolute;left:690.16px;top:68px;">(381)</div><div id="a23779" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:85px;">(Loss) gain on fixed asset disposals, net </div><div id="a23784" style="position:absolute;left:415.88px;top:85px;">(83)</div><div id="a23788" style="position:absolute;left:515.72px;top:85px;">30</div><div id="a23792" style="position:absolute;left:603.92px;top:85px;">(81)</div><div id="a23796" style="position:absolute;left:701.84px;top:85px;">39</div><div id="a23798" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:102px;">Non-income tax refunds and other related credits </div><div id="a23803" style="position:absolute;left:414.12px;top:102px;">832</div><div id="a23807" style="position:absolute;left:509px;top:102px;">813</div><div id="a23811" style="position:absolute;left:592.08px;top:102px;">2,131</div><div id="a23815" style="position:absolute;left:695.12px;top:102px;">965</div><div id="a23817" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:119.1px;">Pension and postretirement benefit costs,<div style="display:inline-block;width:4.34px"> </div></div><div id="a23830" style="position:absolute;font-weight:normal;font-style:normal;left:13.387px;top:136px;">non-service components </div><div id="a23835" style="position:absolute;left:409.16px;top:136px;">(341)</div><div id="a23839" style="position:absolute;left:504.04px;top:136px;">(895)</div><div id="a23843" style="position:absolute;left:580.56px;top:136px;">(23,866)</div><div id="a23847" style="position:absolute;left:680.24px;top:136px;">(1,791)</div><div id="a23849" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:153px;">Other non-operating income, net </div><div id="a23855" style="position:absolute;left:414.12px;top:153px;">395</div><div id="a23859" style="position:absolute;left:515.72px;top:153px;">46</div><div id="a23863" style="position:absolute;left:602.16px;top:153px;">319</div><div id="a23867" style="position:absolute;left:695.12px;top:153px;">163</div><div id="a23869" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:170px;">Total other<div style="display:inline-block;width:4.7px"> </div>(expense) income, net </div><div id="a23871" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:170px;">$ </div><div id="a23873" style="position:absolute;left:409.16px;top:170px;">(993)</div><div id="a23876" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:170px;">$ </div><div id="a23878" style="position:absolute;left:515.72px;top:170px;">43</div><div id="a23881" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:170px;">$ </div><div id="a23883" style="position:absolute;left:580.56px;top:170px;">(22,168)</div><div id="a23886" style="position:absolute;font-weight:normal;font-style:normal;left:639.44px;top:170px;">$ </div><div id="a23888" style="position:absolute;left:690.16px;top:170px;">(592)</div></div>

208000

193000

512000

413000

-2004000

-144000

-1183000

-381000

-83000

30000

-81000

39000

832000 813000 2131000 965000 341000 895000 23866000 1791000

395000

46000

319000

163000

-993000

43000

-22168000

-592000

22700000

<div id="TextBlockContainer164" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:854px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a24028" 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="a24048" 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 and six months ended June 30, 2020 was an expense<div style="display:inline-block;width:4.82px"> </div>of </div><div id="a24048_100_4" style="position:absolute;left:576.559px;top:23.4px;">57.9</div><div id="a24048_104_19" style="position:absolute;font-weight:normal;font-style:normal;left:599.919px;top:23.4px;">% and a benefit of </div><div id="a24096" style="position:absolute;left:4.427px;top:38.7px;">20.7</div><div id="a24096_4_43" style="position:absolute;font-weight:normal;font-style:normal;left:27.946px;top:38.7px;">%, respectively, compared to<div style="display:inline-block;width:4.79px"> </div>an expense of </div><div id="a24096_47_4" style="position:absolute;left:263.053px;top:38.7px;">24.2</div><div id="a24096_51_6" style="position:absolute;font-weight:normal;font-style:normal;left:286.413px;top:38.7px;">% and </div><div id="a24096_57_4" style="position:absolute;left:323.213px;top:38.7px;">25.4</div><div id="a24096_61_68" style="position:absolute;font-weight:normal;font-style:normal;left:346.733px;top:38.7px;">%, respectively, for the<div style="display:inline-block;width:4.72px"> </div>three and six months ended June 30, 2019.<div style="display:inline-block;width:4.35px"> </div></div><div id="a24140" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.9px;">The Company’s effective<div style="display:inline-block;width:5.08px"> </div>tax rate for the three and six months ended June 30, 2020 was impacted<div style="display:inline-block;width:4.86px"> </div>by the tax effect of certain one-time </div><div id="a24190" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">pre-tax costs as well as certain tax charges<div style="display:inline-block;width:4.77px"> </div>and benefits in the current period including those related to changes<div style="display:inline-block;width:4.79px"> </div>in foreign tax credit </div><div id="a24238" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">valuation allowances, discussed below,<div style="display:inline-block;width:5.32px"> </div>tax law changes in foreign jurisdictions, changes in uncertain<div style="display:inline-block;width:4.77px"> </div>tax positions, and the tax impact </div><div id="a24277" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">of the Company’s termination<div style="display:inline-block;width:4.74px"> </div>of its legacy Quaker U.S. Pension Plan.<div style="display:inline-block;width:7.77px"> </div>Comparatively, the<div style="display:inline-block;width:4.7px"> </div>three and six months ended June 30, 2019 </div><div id="a24319" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">effective tax rates were impacted by certain<div style="display:inline-block;width:4.78px"> </div>non-deductible costs associated with the Combination, partially<div style="display:inline-block;width:4.69px"> </div>offset by a favorable shift </div><div id="a24360" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.7px;">in earnings to entities with lower effective<div style="display:inline-block;width:4.74px"> </div>tax rates. </div><div id="a24378" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:153.9px;">On March 27, 2020, in response to COVID-19 and its detrimental<div style="display:inline-block;width:4.82px"> </div>impact to the global economy,<div style="display:inline-block;width:5.01px"> </div>the CARES Act was enacted </div><div id="a24422" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:169.3px;">into law, providing<div style="display:inline-block;width:4.73px"> </div>a stimulus to the U.S. economy in the form of various individual<div style="display:inline-block;width:4.93px"> </div>and business assistance programs as well as </div><div id="a24466" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:184.6px;">temporary changes to existing tax law.<div style="display:inline-block;width:8.49px"> </div>The changes include a postponement of certain tax payments,<div style="display:inline-block;width:4.82px"> </div>deferral of the employer’s </div><div id="a24504" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:200px;">portion of the social security tax and certain other payroll<div style="display:inline-block;width:1.5px"> </div>-related incentives, and an increase in the interest expense<div style="display:inline-block;width:4.82px"> </div>limitation under </div><div id="a24546" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:215.4px;">Section 163(j) of the Internal Revenue Code from </div><div id="a24546_49_2" style="position:absolute;left:273.453px;top:215.4px;">30</div><div id="a24546_51_5" style="position:absolute;font-weight:normal;font-style:normal;left:286.733px;top:215.4px;">% to </div><div id="a24546_56_2" style="position:absolute;left:314.893px;top:215.4px;">50</div><div id="a24546_58_72" style="position:absolute;font-weight:normal;font-style:normal;left:328.173px;top:215.4px;">% for the 2019 and 2020 tax years.<div style="display:inline-block;width:7.44px"> </div>ASC 740 requires the tax effects of </div><div id="a24597" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:230.8px;">changes in tax laws or rates to be recorded in the period<div style="display:inline-block;width:4.6px"> </div>of enactment.<div style="display:inline-block;width:7.09px"> </div>Under the CARES Act, the Company has the option to use<div style="display:inline-block;width:4.72px"> </div>its </div><div id="a24649" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:246px;">2019 adjusted taxable income in determining its interest expense<div style="display:inline-block;width:4.84px"> </div>limitation under Section 163(j).<div style="display:inline-block;width:7.46px"> </div>While the Company is still </div><div id="a24685" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:261.3px;">considering whether to make this election for 2020, the<div style="display:inline-block;width:4.8px"> </div>current year tax provision takes into account this potential election and </div><div id="a24725" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:276.7px;">associated tax benefit, which offsets an inc<div style="display:inline-block;width:1.42px"> </div>rease to the Company’s foreign<div style="display:inline-block;width:4.95px"> </div>tax credit valuation allowance recognized during the </div><div id="a24762" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:292px;">current quarter primarily driven by changes in current<div style="display:inline-block;width:4.69px"> </div>year projected taxable income due to the negative impacts from<div style="display:inline-block;width:4.75px"> </div>COVID-19.<div style="display:inline-block;width:7.01px"> </div>In </div><div id="a24804" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:307.4px;">addition, the Company reviewed its existing deferred tax<div style="display:inline-block;width:4.8px"> </div>assets in light of COVID-19 and determined that, at this time,<div style="display:inline-block;width:4.71px"> </div>no change in </div><div id="a24851" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:322.6px;">valuation allowance is required except with regard to<div style="display:inline-block;width:4.7px"> </div>its foreign tax credits as noted above.<div style="display:inline-block;width:7.43px"> </div>While the ultimate impact of COVID-19 </div><div id="a24895" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:338px;">on the Company’s results<div style="display:inline-block;width:4.75px"> </div>of operations is still uncertain, the Company will continue to<div style="display:inline-block;width:4.76px"> </div>assess future changes in projected taxable </div><div id="a24936" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:353.3px;">income to determine if they result in additional changes<div style="display:inline-block;width:4.79px"> </div>to any of the Company’s valuation<div style="display:inline-block;width:4.88px"> </div>allowances.<div style="display:inline-block;width:3.45px"> </div></div><div id="a24969" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:376.7px;">As previously disclosed in its 2019 Form 10-K, the Company<div style="display:inline-block;width:4.77px"> </div>had a deferred tax liability of $</div><div id="a24969_92_3" style="position:absolute;left:525.16px;top:376.7px;">8.2</div><div id="a24969_95_31" style="position:absolute;font-weight:normal;font-style:normal;left:541.8px;top:376.7px;"><div style="display:inline-block;width:3.36px"> </div>million at December 31, 2019, </div><div id="a25016" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:392px;">which primarily represents the Company’s<div style="display:inline-block;width:5.24px"> </div>estimate of non-U.S. taxes it will incur to repatriate certain foreign<div style="display:inline-block;width:4.77px"> </div>earnings to the U.S.<div style="display:inline-block;width:3.68px"> </div></div><div id="a25059" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:407.4px;">During the first six months of 2020, the Company made<div style="display:inline-block;width:4.7px"> </div>certain adjustments to the deferred tax liability to take into<div style="display:inline-block;width:4.71px"> </div>account a tax law </div><div id="a25107" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:422.6px;">change enacted in the first quarter in a certain foreign<div style="display:inline-block;width:4.75px"> </div>jurisdiction, the inclusion of other earnings to be repatriated,<div style="display:inline-block;width:4.73px"> </div>and the actual </div><div id="a25151" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:438px;">repatriation of earnings, resulting in a deferred tax liability<div style="display:inline-block;width:4.79px"> </div>of $</div><div id="a25151_68_3" style="position:absolute;left:341.933px;top:438px;">6.3</div><div id="a25151_71_31" style="position:absolute;font-weight:normal;font-style:normal;left:358.573px;top:438px;"><div style="display:inline-block;width:3.36px"> </div>million as of June 30, 2020.<div style="display:inline-block;width:3.95px"> </div></div><div id="a25187" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:461.3px;">As previously disclosed in its 2019 Form 10-K, in conjunction<div style="display:inline-block;width:4.89px"> </div>with the Combination, the Company acquired foreign tax credit </div><div id="a25227" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:476.7px;">deferred tax assets of $</div><div id="a25227_24_4" style="position:absolute;left:127.493px;top:476.7px;">41.8</div><div id="a25227_28_26" style="position:absolute;font-weight:normal;font-style:normal;left:150.853px;top:476.7px;"><div style="display:inline-block;width:3.36px"> </div>million expiring between </div><div id="a25227_54_13" style="position:absolute;left:291.533px;top:476.7px;">2019 and 2028</div><div id="a25227_67_65" style="position:absolute;font-weight:normal;font-style:normal;left:370.893px;top:476.7px;">.<div style="display:inline-block;width:6.6px"> </div>Foreign tax credits may be carried forward for 10 years.<div style="display:inline-block;width:7.98px"> </div>The </div><div id="a25273" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:492.1px;">Company analyzes the expected impact of the utilization<div style="display:inline-block;width:4.71px"> </div>of foreign tax credits based on projected U.S. taxable income,<div style="display:inline-block;width:4.83px"> </div>overall </div><div id="a25311" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:507.4px;">domestic loss recapture, annual limitations due to the<div style="display:inline-block;width:4.61px"> </div>ownership change limitations provided by the Internal<div style="display:inline-block;width:4.73px"> </div>Revenue Code, and </div><div id="a25348" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:522.6px;">enacted tax law amongst other factors.<div style="display:inline-block;width:7.74px"> </div>As of December 31, 2019, the Company had net realizable foreign<div style="display:inline-block;width:4.71px"> </div>tax credits of $</div><div id="a25348_120_4" style="position:absolute;left:653.999px;top:522.6px;">32.7</div><div id="a25348_124_9" style="position:absolute;font-weight:normal;font-style:normal;left:677.359px;top:522.6px;"><div style="display:inline-block;width:3.36px"> </div>million </div><div id="a25393" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:538px;">on its balance sheet expected to be utilized between </div><div id="a25393_53_13" style="position:absolute;left:283.373px;top:538px;">2020 and 2026</div><div id="a25393_66_67" style="position:absolute;font-weight:normal;font-style:normal;left:362.573px;top:538px;">.<div style="display:inline-block;width:6.76px"> </div>As of June 30, 2020, the Company had net realizable foreign tax </div><div id="a25443" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:553.3px;">credits of $</div><div id="a25443_12_4" style="position:absolute;left:64.619px;top:553.3px;">21.9</div><div id="a25443_16_62" style="position:absolute;font-weight:normal;font-style:normal;left:87.979px;top:553.3px;"><div style="display:inline-block;width:3.19px"> </div>million on its balance sheet expected to be utilized between </div><div id="a25443_78_13" style="position:absolute;left:411.88px;top:553.3px;">2020 and 2026</div><div id="a25443_91_44" style="position:absolute;font-weight:normal;font-style:normal;left:491.08px;top:553.3px;">.<div style="display:inline-block;width:6.76px"> </div>The change in net realizable foreign tax </div><div id="a25495" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:568.7px;">credits during the first six months of 2020 was primarily<div style="display:inline-block;width:4.84px"> </div>driven by the Company's update to its initial opening balance<div style="display:inline-block;width:4.73px"> </div>sheet estimate </div><div id="a25540" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:584.1px;">with respect to acquired Houghton foreign tax credit deferred<div style="display:inline-block;width:4.82px"> </div>tax assets, described in Note 2 of Notes to Condensed Consolidated </div><div id="a25580" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:599.3px;">Financial Statements, as well as approximately $</div><div id="a25580_48_3" style="position:absolute;left:264.973px;top:599.3px;">3.7</div><div id="a25580_51_80" style="position:absolute;font-weight:normal;font-style:normal;left:281.613px;top:599.3px;"><div style="display:inline-block;width:3.36px"> </div>million of tax expense for the six months ended June 30,<div style="display:inline-block;width:4.6px"> </div>2020 based on revised </div><div id="a25625" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:614.6px;">taxable income projections and changes to the interest expense<div style="display:inline-block;width:4.79px"> </div>limitation under the CARES Act amongst other factors. </div><div id="a25659" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:638px;">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="a25697" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:653.3px;">(loss) income 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="a25734" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:668.7px;">Company recognized an expense for interest of $</div><div id="a25734_47_3" style="position:absolute;left:266.413px;top:668.7px;">0.6</div><div id="a25734_50_14" style="position:absolute;font-weight:normal;font-style:normal;left:283.053px;top:668.7px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a25734_64_3" style="position:absolute;left:357.453px;top:668.7px;">0.6</div><div id="a25734_67_42" style="position:absolute;font-weight:normal;font-style:normal;left:374.253px;top:668.7px;"><div style="display:inline-block;width:3.36px"> </div>million and an expense for penalties of $</div><div id="a25734_109_3" style="position:absolute;left:594.96px;top:668.7px;">0.6</div><div id="a25734_112_14" style="position:absolute;font-weight:normal;font-style:normal;left:611.6px;top:668.7px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a25734_126_3" style="position:absolute;left:686px;top:668.7px;">0.5</div><div id="a25734_129_1" style="position:absolute;font-weight:normal;font-style:normal;left:702.64px;top:668.7px;"> </div><div id="a25779" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:684.1px;">million in its Condensed Consolidated Statement of Operations<div style="display:inline-block;width:4.85px"> </div>for the three and six months ended June 30, 2020, respectively<div style="display:inline-block;width:1.43px"> </div>.<div style="display:inline-block;width:3.4px"> </div></div><div id="a25818" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:699.3px;">Comparatively,<div style="display:inline-block;width:4.73px"> </div>the Company recognized an expense for interest of $</div><div id="a25818_66_3" style="position:absolute;left:372.013px;top:699.3px;">0.1</div><div id="a25818_69_14" style="position:absolute;font-weight:normal;font-style:normal;left:388.653px;top:699.3px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a25818_83_3" style="position:absolute;left:463.08px;top:699.3px;">0.2</div><div id="a25818_86_46" style="position:absolute;font-weight:normal;font-style:normal;left:479.88px;top:699.3px;"><div style="display:inline-block;width:3.2px"> </div>million and an expense for penalties of less </div><div id="a25861" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:714.7px;">than $</div><div id="a25861_6_3" style="position:absolute;left:37.547px;top:714.7px;">0.1</div><div id="a25861_9_124" style="position:absolute;font-weight:normal;font-style:normal;left:54.219px;top:714.7px;"><div style="display:inline-block;width:3.36px"> </div>million for both the three and six months ended June 30, 2019,<div style="display:inline-block;width:4.74px"> </div>respectively.<div style="display:inline-block;width:7.81px"> </div>As of June 30, 2020, the Company had accrued </div><div id="a25911" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:730px;">$</div><div id="a25911_1_3" style="position:absolute;left:11.147px;top:730px;">2.8</div><div id="a25911_4_38" style="position:absolute;font-weight:normal;font-style:normal;left:27.947px;top:730px;"><div style="display:inline-block;width:3.36px"> </div>million for cumulative interest and $</div><div id="a25911_42_3" style="position:absolute;left:226.413px;top:730px;">4.0</div><div id="a25911_45_80" style="position:absolute;font-weight:normal;font-style:normal;left:243.053px;top:730px;"><div style="display:inline-block;width:3.36px"> </div>million for cumulative penalties in its Condensed Consolidated Balance<div style="display:inline-block;width:4.79px"> </div>Sheets, </div><div id="a25949" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:745.4px;">compared to $</div><div id="a25949_13_3" style="position:absolute;left:80.779px;top:745.4px;">2.3</div><div id="a25949_16_38" style="position:absolute;font-weight:normal;font-style:normal;left:97.573px;top:745.4px;"><div style="display:inline-block;width:3.36px"> </div>million for cumulative interest and $</div><div id="a25949_54_3" style="position:absolute;left:296.013px;top:745.4px;">3.1</div><div id="a25949_57_64" style="position:absolute;font-weight:normal;font-style:normal;left:312.653px;top:745.4px;"><div style="display:inline-block;width:3.36px"> </div>million for cumulative penalties accrued at December 31, 2019. </div><div id="a25987" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:768.7px;">As of June 30, 2020, the Company’s<div style="display:inline-block;width:5.02px"> </div>cumulative liability for gross unrecognized tax benefits was $</div><div id="a25987_97_4" style="position:absolute;left:555.24px;top:768.7px;">21.1</div><div id="a25987_101_25" style="position:absolute;font-weight:normal;font-style:normal;left:578.8px;top:768.7px;"><div style="display:inline-block;width:3.36px"> </div>million, an increase of </div><div id="a26029" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:784.1px;">$</div><div id="a26029_1_3" style="position:absolute;left:11.147px;top:784.1px;">2.0</div><div id="a26029_4_19" style="position:absolute;font-weight:normal;font-style:normal;left:27.947px;top:784.1px;"><div style="display:inline-block;width:3.36px"> </div>million from the $</div><div id="a26029_23_4" style="position:absolute;left:128.613px;top:784.1px;">19.1</div><div id="a26029_27_64" style="position:absolute;font-weight:normal;font-style:normal;left:151.973px;top:784.1px;"><div style="display:inline-block;width:3.36px"> </div>million cumulative liability accrued as of December 31,<div style="display:inline-block;width:4.7px"> </div>2019.<div style="display:inline-block;width:3.24px"> </div></div><div id="a26061" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:807.3px;">During the six months ended June 30, 2020 and 2019, the<div style="display:inline-block;width:4.81px"> </div>Company recognized a decrease of $</div><div id="a26061_90_3" style="position:absolute;left:536.039px;top:807.3px;">1.5</div><div id="a26061_93_24" style="position:absolute;font-weight:normal;font-style:normal;left:552.679px;top:807.3px;"><div style="display:inline-block;width:3.36px"> </div>million and less than $</div><div id="a26061_117_3" style="position:absolute;left:676.719px;top:807.3px;">0.1</div><div id="a26061_120_1" style="position:absolute;font-weight:normal;font-style:normal;left:693.519px;top:807.3px;"> </div><div id="a26106" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:822.7px;">million, respectively,<div style="display:inline-block;width:4.88px"> </div>in its cumulative liability for gross unrecognized tax benefits due<div style="display:inline-block;width:4.75px"> </div>to the expiration of the applicable statutes of </div><div id="a26147" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:838px;">limitations for certain tax years. </div></div><div id="TextBlockContainer166" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:423px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a26210" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The Company estimates that during the year ending December<div style="display:inline-block;width:4.88px"> </div>31, 2020 it will reduce its cumulative liability for gross </div><div id="a26248" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">unrecognized tax benefits by approximately $</div><div id="a26248_44_3" style="position:absolute;left:248.653px;top:15.4px;">2.3</div><div id="a26248_47_88" style="position:absolute;font-weight:normal;font-style:normal;left:265.293px;top:15.4px;"><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="a26291" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">positions.<div style="display:inline-block;width:6.99px"> </div>This estimated reduction in the cumulative liability for unrecognized<div style="display:inline-block;width:4.89px"> </div>tax benefits does not consider any increase in liability </div><div id="a26330" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">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="a26371" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">with regard to new tax positions for the year ending December<div style="display:inline-block;width:4.88px"> </div>31, 2020. </div><div id="a26397" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:84.6px;">The Company and its subsidiaries are subject to U.S. Federal income<div style="display:inline-block;width:5.02px"> </div>tax, as well as the income tax of various state and foreign </div><div id="a26444" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">tax jurisdictions.<div style="display:inline-block;width:7.18px"> </div>Tax years that remain<div style="display:inline-block;width:4.72px"> </div>subject to examination by major tax jurisdictions include Brazil from </div><div id="a26444_112_4" style="position:absolute;left:591.12px;top:100px;">2000</div><div id="a26444_116_13" style="position:absolute;font-weight:normal;font-style:normal;left:617.84px;top:100px;">, Italy from </div><div id="a26444_129_4" style="position:absolute;left:681.36px;top:100px;">2006</div><div id="a26444_133_2" style="position:absolute;font-weight:normal;font-style:normal;left:708.08px;top:100px;">, </div><div id="a26484" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">China from </div><div id="a26484_11_4" style="position:absolute;left:68.939px;top:115.4px;">2010</div><div id="a26484_15_14" style="position:absolute;font-weight:normal;font-style:normal;left:95.653px;top:115.4px;">, Canada from </div><div id="a26484_29_4" style="position:absolute;left:174.853px;top:115.4px;">2011</div><div id="a26484_33_46" style="position:absolute;font-weight:normal;font-style:normal;left:201.573px;top:115.4px;">, the Netherlands and the United Kingdom from </div><div id="a26484_79_4" style="position:absolute;left:460.36px;top:115.4px;">2014</div><div id="a26484_83_13" style="position:absolute;font-weight:normal;font-style:normal;left:487.08px;top:115.4px;">, Spain from </div><div id="a26484_96_4" style="position:absolute;left:556.84px;top:115.4px;">2015</div><div id="a26484_100_23" style="position:absolute;font-weight:normal;font-style:normal;left:583.4px;top:115.4px;">, Mexico, Germany,<div style="display:inline-block;width:4.73px"> </div>and </div><div id="a26528" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.7px;">the U.S. from </div><div id="a26528_14_4" style="position:absolute;left:80.459px;top:130.7px;">2016</div><div id="a26528_18_70" style="position:absolute;font-weight:normal;font-style:normal;left:107.179px;top:130.7px;">, India from fiscal year beginning April 1, 2017 and ending<div style="display:inline-block;width:4.73px"> </div>March 31, </div><div id="a26528_88_4" style="position:absolute;left:484.04px;top:130.7px;">2018</div><div id="a26528_92_43" style="position:absolute;font-weight:normal;font-style:normal;left:510.919px;top:130.7px;">, and various U.S. state tax jurisdictions </div><div id="a26574" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:146.1px;">from </div><div id="a26574_5_4" style="position:absolute;left:33.867px;top:146.1px;">2010</div><div id="a26574_9_4" style="position:absolute;font-weight:normal;font-style:normal;left:60.427px;top:146.1px;">.<div style="display:inline-block;width:6.63px"> </div></div><div id="a26579" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:169.3px;">As previously reported, the Italian tax authorities have<div style="display:inline-block;width:4.71px"> </div>assessed additional tax due from the Company’s<div style="display:inline-block;width:5.23px"> </div>subsidiary, Quaker Italia </div><div id="a26615" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:184.6px;">S.r.l., relating to the tax<div style="display:inline-block;width:4.64px"> </div>years </div><div id="a26615_34_17" style="position:absolute;left:165.093px;top:184.6px;">2007 through 2015</div><div id="a26615_51_85" style="position:absolute;font-weight:normal;font-style:normal;left:266.733px;top:184.6px;">.<div style="display:inline-block;width:6.76px"> </div>The Company has filed for competent authority relief related to<div style="display:inline-block;width:4.73px"> </div>these assessments </div><div id="a26659" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:200px;">under the Mutual Agreement Procedures (“MAP”) of the<div style="display:inline-block;width:4.82px"> </div>Organization for Economic Co-Operation and Development<div style="display:inline-block;width:5px"> </div>(“OECD”) for </div><div id="a26693" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:215.4px;">all years except 2007.<div style="display:inline-block;width:7.28px"> </div>During the second quarter of 2020, the Company received notification<div style="display:inline-block;width:4.94px"> </div>that the Italian and Dutch competent </div><div id="a26735" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:230.8px;">authorities reached an agreement as part of the MAP involving<div style="display:inline-block;width:4.89px"> </div>tax years 2008 through 2015.<div style="display:inline-block;width:7.31px"> </div>The Company has tentatively agreed to </div><div id="a26777" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:246px;">the reduced tax assessments and has recorded $</div><div id="a26777_46_3" style="position:absolute;left:257.453px;top:246px;">1.4</div><div id="a26777_49_88" style="position:absolute;font-weight:normal;font-style:normal;left:274.093px;top:246px;"><div style="display:inline-block;width:3.36px"> </div>million of additional reserves for uncertain tax positions for the<div style="display:inline-block;width:4.64px"> </div>open tax years that </div><div id="a26824" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:261.3px;">is consistent with the tentative agreement reached involving<div style="display:inline-block;width:4.69px"> </div>tax years 2008 through 2015.<div style="display:inline-block;width:7.31px"> </div>As of June 30, 2020, the Company believes </div><div id="a26868" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:276.7px;">it has adequate reserves for uncertain tax positions with<div style="display:inline-block;width:4.73px"> </div>respect to this matter. </div><div id="a26896" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:300px;">Houghton Italia, S.r.l<div style="display:inline-block;width:4.74px"> </div>is also currently involved in a corporate income tax audit with the<div style="display:inline-block;width:4.59px"> </div>Italian tax authorities covering tax years </div><div id="a26939" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:315.4px;">2014 through 2018.<div style="display:inline-block;width:7.31px"> </div>As part of the purchase accounting related to the Combination,<div style="display:inline-block;width:4.77px"> </div>the Company has established a $</div><div id="a26939_114_3" style="position:absolute;left:628.719px;top:315.4px;">5.4</div><div id="a26939_117_9" style="position:absolute;font-weight:normal;font-style:normal;left:645.359px;top:315.4px;"><div style="display:inline-block;width:3.2px"> </div>million </div><div id="a26982" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:330.6px;">reserve for uncertain tax positions relating to this audit.<div style="display:inline-block;width:8.06px"> </div>These amounts relate to the 2014 to 2018 audit periods<div style="display:inline-block;width:4.5px"> </div>as well as the seven-</div><div id="a27033" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:346px;">month period in 2019 prior to the Combination.<div style="display:inline-block;width:7.83px"> </div>Since these amounts relate to tax periods prior to the Combination,<div style="display:inline-block;width:4.9px"> </div>the Company has </div><div id="a27080" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:361.3px;">submitted an indemnification claim against funds<div style="display:inline-block;width:4.73px"> </div>held in escrow by Houghton’s former<div style="display:inline-block;width:4.76px"> </div>owners for certain tax liabilities arising pre-</div><div id="a27119" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:376.7px;">Combination.<div style="display:inline-block;width:7.2px"> </div>As a result, a corresponding $</div><div id="a27119_44_3" style="position:absolute;left:243.533px;top:376.7px;">5.4</div><div id="a27119_47_79" style="position:absolute;font-weight:normal;font-style:normal;left:260.173px;top:376.7px;"><div style="display:inline-block;width:3.36px"> </div>million indemnification receivable has also been established through<div style="display:inline-block;width:4.78px"> </div>purchase </div><div id="a27153" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:392px;">accounting that would offset the $</div><div id="a27153_34_3" style="position:absolute;left:186.373px;top:392px;">5.4</div><div id="a27153_37_90" style="position:absolute;font-weight:normal;font-style:normal;left:203.013px;top:392px;"><div style="display:inline-block;width:3.36px"> </div>million in tax liabilities booked through purchase accounting.<div style="display:inline-block;width:8.18px"> </div>As of June 30, 2020, the </div><div id="a27195" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:407.4px;">Company believes it has adequate reserves for uncertain<div style="display:inline-block;width:4.69px"> </div>tax positions.</div></div>

0.579

-0.207

0.242

0.254

0.30 0.50

8200000

6300000

41800000

2019 and 2028

32700000

2020 and 2026

21900000

2020 and 2026

3700000

600000

500000

100000

200000

100000

2800000

4000000.0

2300000

3100000

21100000

2000000.0

19100000

1500000

100000

2300000

2000

2006

2010

2011

2014

2015

2016

2018

2010

2007 through 2015

1400000

5400000 5400000 5400000

<div id="TextBlockContainer168" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:699px;height:39px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a27216" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 12 – Earnings Per Share </div><div id="a27228" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.2px;">The following table summarizes earnings per share calculations<div style="display:inline-block;width:4.95px"> </div>for the three and six months ended June 30, 2020 and 2019:</div></div><div id="TextBlockContainer172" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:307px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_170_XBRL_TS_4cf63bc0fd11463a81eb486457c9ef6b" 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:733px;height:307px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a27270" style="position:absolute;font-weight:bold;font-style:normal;left:387.853px;top:0px;">Three Months Ended<div style="display:inline-block;width:4.06px"> </div></div><div id="a27273" style="position:absolute;font-weight:bold;font-style:normal;left:582.96px;top:0px;">Six Months Ended </div><div id="a27277" style="position:absolute;font-weight:bold;font-style:normal;left:424.84px;top:17.1px;">June 30, </div><div id="a27280" style="position:absolute;font-weight:bold;font-style:normal;left:611.92px;top:17.1px;">June 30, </div><div id="a27284" style="position:absolute;font-weight:bold;font-style:normal;left:387.693px;top:34.4px;">2020 </div><div id="a27287" style="position:absolute;font-weight:bold;font-style:normal;left:482.6px;top:34.4px;">2019 </div><div id="a27290" style="position:absolute;font-weight:bold;font-style:normal;left:575.76px;top:34.4px;">2020 </div><div id="a27293" style="position:absolute;font-weight:bold;font-style:normal;left:668.72px;top:34.4px;">2019 </div><div id="a27295" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:51.8px;">Basic (loss) earnings per common share </div><div id="a27298" style="position:absolute;font-weight:normal;font-style:normal;left:368.493px;top:51.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a27302" style="position:absolute;font-weight:normal;font-style:normal;left:463.56px;top:51.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a27306" style="position:absolute;font-weight:normal;font-style:normal;left:556.52px;top:51.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a27312" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:69.9px;">Net (loss) income attributable to Quaker Chemical Corporation </div><div id="a27315" style="position:absolute;font-weight:normal;font-style:normal;left:358.573px;top:68.5px;">$<div style="display:inline-block;width:3.44px"> </div></div><div id="a27317" style="position:absolute;left:404.68px;top:69.9px;">(7,735)</div><div id="a27320" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:68.5px;">$ </div><div id="a27322" style="position:absolute;left:497.96px;top:69.9px;">15,591</div><div id="a27325" style="position:absolute;font-weight:normal;font-style:normal;left:546.6px;top:68.5px;">$<div style="display:inline-block;width:3.44px"> </div></div><div id="a27327" style="position:absolute;left:586px;top:69.9px;">(36,116)</div><div id="a27330" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:68.5px;">$ </div><div id="a27332" style="position:absolute;left:683.92px;top:69.9px;">29,435</div><div id="a27335" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:86.9px;">Less: loss (income) allocated to participating securities </div><div id="a27337" style="position:absolute;font-weight:normal;font-style:normal;left:358.573px;top:86.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a27339" style="position:absolute;left:426.28px;top:86.9px;">37</div><div id="a27342" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:86.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a27344" style="position:absolute;left:516.36px;top:86.9px;">(34)</div><div id="a27347" style="position:absolute;font-weight:normal;font-style:normal;left:546.6px;top:86.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a27349" style="position:absolute;left:607.6px;top:86.9px;">146</div><div id="a27352" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:86.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a27354" style="position:absolute;left:702.32px;top:86.9px;">(81)</div><div id="a27357" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:103.8px;">Net (loss) income available to common shareholders </div><div id="a27359" style="position:absolute;font-weight:normal;font-style:normal;left:358.573px;top:103.4px;">$<div style="display:inline-block;width:3.44px"> </div></div><div id="a27361" style="position:absolute;left:404.68px;top:103.8px;">(7,698)</div><div id="a27364" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:103.4px;">$ </div><div id="a27366" style="position:absolute;left:497.96px;top:103.8px;">15,557</div><div id="a27369" style="position:absolute;font-weight:normal;font-style:normal;left:546.6px;top:103.4px;">$<div style="display:inline-block;width:3.44px"> </div></div><div id="a27371" style="position:absolute;left:586px;top:103.8px;">(35,970)</div><div id="a27374" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:103.4px;">$ </div><div id="a27376" style="position:absolute;left:683.92px;top:103.8px;">29,354</div><div id="a27379" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:120.8px;">Basic weighted average common shares outstanding </div><div id="a27382" style="position:absolute;left:380.493px;top:120.8px;">17,697,496</div><div id="a27386" style="position:absolute;left:475.56px;top:120.8px;">13,304,248</div><div id="a27390" style="position:absolute;left:568.52px;top:120.8px;">17,685,010</div><div id="a27395" style="position:absolute;left:661.52px;top:120.8px;">13,297,953</div><div id="a27397" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:137.9px;">Basic (loss) earnings per common share </div><div id="a27399" style="position:absolute;font-weight:normal;font-style:normal;left:358.573px;top:137.1px;">$ </div><div id="a27401" style="position:absolute;left:411.4px;top:137.9px;">(0.43)</div><div id="a27404" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:137.1px;">$ </div><div id="a27406" style="position:absolute;left:512.2px;top:137.9px;">1.17</div><div id="a27409" style="position:absolute;font-weight:normal;font-style:normal;left:546.6px;top:137.1px;">$ </div><div id="a27411" style="position:absolute;left:599.44px;top:137.9px;">(2.03)</div><div id="a27414" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:137.1px;">$ </div><div id="a27416" style="position:absolute;left:698.16px;top:137.9px;">2.21</div><div id="a27431" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:171.8px;">Diluted (loss) earnings per common share </div><div id="a27446" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:188.8px;">Net (loss) income attributable to Quaker Chemical Corporation </div><div id="a27448" style="position:absolute;font-weight:normal;font-style:normal;left:358.573px;top:188px;">$ </div><div id="a27450" style="position:absolute;left:404.68px;top:188.8px;">(7,735)</div><div id="a27453" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:188px;">$ </div><div id="a27455" style="position:absolute;left:497.96px;top:188.8px;">15,591</div><div id="a27458" style="position:absolute;font-weight:normal;font-style:normal;left:546.6px;top:188px;">$<div style="display:inline-block;width:3.44px"> </div></div><div id="a27460" style="position:absolute;left:586px;top:188.8px;">(36,116)</div><div id="a27463" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:188px;">$ </div><div id="a27465" style="position:absolute;left:683.92px;top:188.8px;">29,435</div><div id="a27468" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:206px;">Less: loss (income) allocated to participating securities </div><div id="a27471" style="position:absolute;left:426.28px;top:206px;">37</div><div id="a27474" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:205.2px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a27476" style="position:absolute;left:516.36px;top:206px;">(34)</div><div id="a27479" style="position:absolute;font-weight:normal;font-style:normal;left:546.6px;top:205.2px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a27481" style="position:absolute;left:607.6px;top:206px;">146</div><div id="a27484" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:205.2px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a27486" style="position:absolute;left:702.32px;top:206px;">(81)</div><div id="a27489" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:222.9px;">Net (loss) income available to common shareholders </div><div id="a27491" style="position:absolute;font-weight:normal;font-style:normal;left:358.573px;top:222.4px;">$ </div><div id="a27493" style="position:absolute;left:404.68px;top:222.9px;">(7,698)</div><div id="a27496" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:222.4px;">$ </div><div id="a27498" style="position:absolute;left:497.96px;top:222.9px;">15,557</div><div id="a27501" style="position:absolute;font-weight:normal;font-style:normal;left:546.6px;top:222.4px;">$ </div><div id="a27503" style="position:absolute;left:586px;top:222.9px;">(35,970)</div><div id="a27507" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:222.4px;">$ </div><div id="a27509" style="position:absolute;left:683.92px;top:222.9px;">29,354</div><div id="a27512" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:239.1px;">Basic weighted average common shares outstanding </div><div id="a27515" style="position:absolute;left:380.493px;top:239.9px;">17,697,496</div><div id="a27519" style="position:absolute;left:475.56px;top:239.9px;">13,304,248</div><div id="a27523" style="position:absolute;left:568.52px;top:239.9px;">17,685,010</div><div id="a27527" style="position:absolute;left:661.52px;top:239.9px;">13,297,953</div><div id="a27530" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:256px;">Effect of dilutive securities </div><div id="a27533" style="position:absolute;left:426.28px;top:256px;">—</div><div id="a27537" style="position:absolute;left:497.96px;top:256px;">48,007</div><div id="a27541" style="position:absolute;left:614.32px;top:256px;">—</div><div id="a27545" style="position:absolute;left:683.92px;top:256px;">47,362</div><div id="a27548" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:273.5px;">Diluted weighted average common shares outstanding </div><div id="a27551" style="position:absolute;left:380.493px;top:273.5px;">17,697,496</div><div id="a27555" style="position:absolute;left:475.56px;top:273.5px;">13,352,255</div><div id="a27559" style="position:absolute;left:568.52px;top:273.5px;">17,685,010</div><div id="a27563" style="position:absolute;left:661.52px;top:273.5px;">13,345,315</div><div id="a27565" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:290.9px;">Diluted (loss) earnings per common share </div><div id="a27567" style="position:absolute;font-weight:normal;font-style:normal;left:358.573px;top:290.1px;">$ </div><div id="a27569" style="position:absolute;left:411.4px;top:290.9px;">(0.43)</div><div id="a27572" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:290.1px;">$ </div><div id="a27574" style="position:absolute;left:512.2px;top:290.1px;">1.17</div><div id="a27577" style="position:absolute;font-weight:normal;font-style:normal;left:546.6px;top:290.1px;">$ </div><div id="a27579" style="position:absolute;left:599.44px;top:290.9px;">(2.03)</div><div id="a27582" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:290.1px;">$ </div><div id="a27584" style="position:absolute;left:698.16px;top:290.1px;">2.20</div></div></div></div><div id="TextBlockContainer174" 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="a27639" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">During the third quarter of 2019, the Company issued<div style="display:inline-block;width:4.73px"> </div>approximately </div><div id="a27639_67_3" style="position:absolute;left:398.573px;top:0px;">4.3</div><div id="a27639_70_44" style="position:absolute;font-weight:normal;font-style:normal;left:415.239px;top:0px;"><div style="display:inline-block;width:3.36px"> </div>million shares of common stock, comprising </div><div id="a27639_114_4" style="position:absolute;left:659.759px;top:0px;">24.5</div><div id="a27639_118_5" style="position:absolute;font-weight:normal;font-style:normal;left:682.959px;top:0px;">% of </div><div id="a27679" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">the common stock of the Company immediately after<div style="display:inline-block;width:4.79px"> </div>the closing, as a component of the consideration transferred in the Combination. </div><div id="a27719" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Certain stock options and restricted stock units are not included<div style="display:inline-block;width:4.85px"> </div>in the diluted (loss) earnings per share calculation because the effect </div><div id="a27761" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">would have been anti-dilutive.<div style="display:inline-block;width:7.46px"> </div>All of the Company’s potentially<div style="display:inline-block;width:4.73px"> </div>dilutive shares for the three and six months ended June<div style="display:inline-block;width:4.67px"> </div>30, 2020 are </div><div id="a27807" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">anti-dilutive and not included in the dilutive (loss) earnings<div style="display:inline-block;width:4.62px"> </div>per share calculation because of the Company’s<div style="display:inline-block;width:5.34px"> </div>net loss for the periods.<div style="display:inline-block;width:3.71px"> </div></div><div id="a27851" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.6px;">Comparatively,<div style="display:inline-block;width:4.73px"> </div>there were </div><div id="a27851_26_2" style="position:absolute;left:149.733px;top:76.6px;">no</div><div id="a27851_28_71" style="position:absolute;font-weight:normal;font-style:normal;left:163.013px;top:76.6px;"><div style="display:inline-block;width:3.2px"> </div>anti-dilutive shares for the three and six months ended<div style="display:inline-block;width:4.79px"> </div>June 30, 2019.</div></div>

<div id="TextBlockContainer171" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:307px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a27270" style="position:absolute;font-weight:bold;font-style:normal;left:387.853px;top:0px;">Three Months Ended<div style="display:inline-block;width:4.06px"> </div></div><div id="a27273" style="position:absolute;font-weight:bold;font-style:normal;left:582.96px;top:0px;">Six Months Ended </div><div id="a27277" style="position:absolute;font-weight:bold;font-style:normal;left:424.84px;top:17.1px;">June 30, </div><div id="a27280" style="position:absolute;font-weight:bold;font-style:normal;left:611.92px;top:17.1px;">June 30, </div><div id="a27284" style="position:absolute;font-weight:bold;font-style:normal;left:387.693px;top:34.4px;">2020 </div><div id="a27287" style="position:absolute;font-weight:bold;font-style:normal;left:482.6px;top:34.4px;">2019 </div><div id="a27290" style="position:absolute;font-weight:bold;font-style:normal;left:575.76px;top:34.4px;">2020 </div><div id="a27293" style="position:absolute;font-weight:bold;font-style:normal;left:668.72px;top:34.4px;">2019 </div><div id="a27295" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:51.8px;">Basic (loss) earnings per common share </div><div id="a27298" style="position:absolute;font-weight:normal;font-style:normal;left:368.493px;top:51.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a27302" style="position:absolute;font-weight:normal;font-style:normal;left:463.56px;top:51.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a27306" style="position:absolute;font-weight:normal;font-style:normal;left:556.52px;top:51.8px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a27312" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:69.9px;">Net (loss) income attributable to Quaker Chemical Corporation </div><div id="a27315" style="position:absolute;font-weight:normal;font-style:normal;left:358.573px;top:68.5px;">$<div style="display:inline-block;width:3.44px"> </div></div><div id="a27317" style="position:absolute;left:404.68px;top:69.9px;">(7,735)</div><div id="a27320" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:68.5px;">$ </div><div id="a27322" style="position:absolute;left:497.96px;top:69.9px;">15,591</div><div id="a27325" style="position:absolute;font-weight:normal;font-style:normal;left:546.6px;top:68.5px;">$<div style="display:inline-block;width:3.44px"> </div></div><div id="a27327" style="position:absolute;left:586px;top:69.9px;">(36,116)</div><div id="a27330" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:68.5px;">$ </div><div id="a27332" style="position:absolute;left:683.92px;top:69.9px;">29,435</div><div id="a27335" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:86.9px;">Less: loss (income) allocated to participating securities </div><div id="a27337" style="position:absolute;font-weight:normal;font-style:normal;left:358.573px;top:86.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a27339" style="position:absolute;left:426.28px;top:86.9px;">37</div><div id="a27342" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:86.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a27344" style="position:absolute;left:516.36px;top:86.9px;">(34)</div><div id="a27347" style="position:absolute;font-weight:normal;font-style:normal;left:546.6px;top:86.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a27349" style="position:absolute;left:607.6px;top:86.9px;">146</div><div id="a27352" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:86.1px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a27354" style="position:absolute;left:702.32px;top:86.9px;">(81)</div><div id="a27357" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:103.8px;">Net (loss) income available to common shareholders </div><div id="a27359" style="position:absolute;font-weight:normal;font-style:normal;left:358.573px;top:103.4px;">$<div style="display:inline-block;width:3.44px"> </div></div><div id="a27361" style="position:absolute;left:404.68px;top:103.8px;">(7,698)</div><div id="a27364" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:103.4px;">$ </div><div id="a27366" style="position:absolute;left:497.96px;top:103.8px;">15,557</div><div id="a27369" style="position:absolute;font-weight:normal;font-style:normal;left:546.6px;top:103.4px;">$<div style="display:inline-block;width:3.44px"> </div></div><div id="a27371" style="position:absolute;left:586px;top:103.8px;">(35,970)</div><div id="a27374" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:103.4px;">$ </div><div id="a27376" style="position:absolute;left:683.92px;top:103.8px;">29,354</div><div id="a27379" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:120.8px;">Basic weighted average common shares outstanding </div><div id="a27382" style="position:absolute;left:380.493px;top:120.8px;">17,697,496</div><div id="a27386" style="position:absolute;left:475.56px;top:120.8px;">13,304,248</div><div id="a27390" style="position:absolute;left:568.52px;top:120.8px;">17,685,010</div><div id="a27395" style="position:absolute;left:661.52px;top:120.8px;">13,297,953</div><div id="a27397" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:137.9px;">Basic (loss) earnings per common share </div><div id="a27399" style="position:absolute;font-weight:normal;font-style:normal;left:358.573px;top:137.1px;">$ </div><div id="a27401" style="position:absolute;left:411.4px;top:137.9px;">(0.43)</div><div id="a27404" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:137.1px;">$ </div><div id="a27406" style="position:absolute;left:512.2px;top:137.9px;">1.17</div><div id="a27409" style="position:absolute;font-weight:normal;font-style:normal;left:546.6px;top:137.1px;">$ </div><div id="a27411" style="position:absolute;left:599.44px;top:137.9px;">(2.03)</div><div id="a27414" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:137.1px;">$ </div><div id="a27416" style="position:absolute;left:698.16px;top:137.9px;">2.21</div><div id="a27431" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:171.8px;">Diluted (loss) earnings per common share </div><div id="a27446" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:188.8px;">Net (loss) income attributable to Quaker Chemical Corporation </div><div id="a27448" style="position:absolute;font-weight:normal;font-style:normal;left:358.573px;top:188px;">$ </div><div id="a27450" style="position:absolute;left:404.68px;top:188.8px;">(7,735)</div><div id="a27453" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:188px;">$ </div><div id="a27455" style="position:absolute;left:497.96px;top:188.8px;">15,591</div><div id="a27458" style="position:absolute;font-weight:normal;font-style:normal;left:546.6px;top:188px;">$<div style="display:inline-block;width:3.44px"> </div></div><div id="a27460" style="position:absolute;left:586px;top:188.8px;">(36,116)</div><div id="a27463" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:188px;">$ </div><div id="a27465" style="position:absolute;left:683.92px;top:188.8px;">29,435</div><div id="a27468" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:206px;">Less: loss (income) allocated to participating securities </div><div id="a27471" style="position:absolute;left:426.28px;top:206px;">37</div><div id="a27474" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:205.2px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a27476" style="position:absolute;left:516.36px;top:206px;">(34)</div><div id="a27479" style="position:absolute;font-weight:normal;font-style:normal;left:546.6px;top:205.2px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a27481" style="position:absolute;left:607.6px;top:206px;">146</div><div id="a27484" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:205.2px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a27486" style="position:absolute;left:702.32px;top:206px;">(81)</div><div id="a27489" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:222.9px;">Net (loss) income available to common shareholders </div><div id="a27491" style="position:absolute;font-weight:normal;font-style:normal;left:358.573px;top:222.4px;">$ </div><div id="a27493" style="position:absolute;left:404.68px;top:222.9px;">(7,698)</div><div id="a27496" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:222.4px;">$ </div><div id="a27498" style="position:absolute;left:497.96px;top:222.9px;">15,557</div><div id="a27501" style="position:absolute;font-weight:normal;font-style:normal;left:546.6px;top:222.4px;">$ </div><div id="a27503" style="position:absolute;left:586px;top:222.9px;">(35,970)</div><div id="a27507" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:222.4px;">$ </div><div id="a27509" style="position:absolute;left:683.92px;top:222.9px;">29,354</div><div id="a27512" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:239.1px;">Basic weighted average common shares outstanding </div><div id="a27515" style="position:absolute;left:380.493px;top:239.9px;">17,697,496</div><div id="a27519" style="position:absolute;left:475.56px;top:239.9px;">13,304,248</div><div id="a27523" style="position:absolute;left:568.52px;top:239.9px;">17,685,010</div><div id="a27527" style="position:absolute;left:661.52px;top:239.9px;">13,297,953</div><div id="a27530" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:256px;">Effect of dilutive securities </div><div id="a27533" style="position:absolute;left:426.28px;top:256px;">—</div><div id="a27537" style="position:absolute;left:497.96px;top:256px;">48,007</div><div id="a27541" style="position:absolute;left:614.32px;top:256px;">—</div><div id="a27545" style="position:absolute;left:683.92px;top:256px;">47,362</div><div id="a27548" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:273.5px;">Diluted weighted average common shares outstanding </div><div id="a27551" style="position:absolute;left:380.493px;top:273.5px;">17,697,496</div><div id="a27555" style="position:absolute;left:475.56px;top:273.5px;">13,352,255</div><div id="a27559" style="position:absolute;left:568.52px;top:273.5px;">17,685,010</div><div id="a27563" style="position:absolute;left:661.52px;top:273.5px;">13,345,315</div><div id="a27565" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:290.9px;">Diluted (loss) earnings per common share </div><div id="a27567" style="position:absolute;font-weight:normal;font-style:normal;left:358.573px;top:290.1px;">$ </div><div id="a27569" style="position:absolute;left:411.4px;top:290.9px;">(0.43)</div><div id="a27572" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:290.1px;">$ </div><div id="a27574" style="position:absolute;left:512.2px;top:290.1px;">1.17</div><div id="a27577" style="position:absolute;font-weight:normal;font-style:normal;left:546.6px;top:290.1px;">$ </div><div id="a27579" style="position:absolute;left:599.44px;top:290.9px;">(2.03)</div><div id="a27582" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:290.1px;">$ </div><div id="a27584" style="position:absolute;left:698.16px;top:290.1px;">2.20</div></div>

-7735000

15591000

-36116000

29435000

-37000

34000

-146000

81000

-7698000

15557000

-35970000

29354000

17697496

13304248

17685010

13297953

-0.43

1.17

-2.03

2.21

-7735000

15591000

-36116000

29435000

-37000

34000

-146000

81000

-7698000

15557000

-35970000

29354000

17697496

13304248

17685010

13297953

48007

47362

17697496

13352255

17685010

13345315

-0.43

1.17

-2.03

2.20

4300000

0.245

<div id="TextBlockContainer176" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:726px;height:162px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a27887" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 13 – Restricted Cash </div><div id="a27897" style="position:absolute;left:28.427px;top:23.4px;">The Company has restricted cash recorded in other assets related to proceeds from an inactive subsidiary of the Company which </div><div id="a27937" style="position:absolute;left:4.427px;top:38.7px;">previously executed separate settlement and release agreements with two of its insurance carriers for an original total value of $35.0 </div><div id="a27978" style="position:absolute;left:4.427px;top:53.9px;">million.</div><div id="a27978_8_126" style="position:absolute;font-weight:normal;font-style:normal;left:46.379px;top:53.9px;"><div style="display:inline-block;width:6.72px"> </div>The proceeds of both settlements are restricted and can only be<div style="display:inline-block;width:4.73px"> </div>used to pay claims and costs of defense associated with the </div><div id="a28024" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">subsidiary’s asbestos litigation.<div style="display:inline-block;width:8.16px"> </div>The proceeds of the settlement and release agreements<div style="display:inline-block;width:4.7px"> </div>have been deposited into interest bearing </div><div id="a28058" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">accounts that earned less than $</div><div id="a28058_32_3" style="position:absolute;left:172.933px;top:84.6px;">0.1</div><div id="a28058_35_61" style="position:absolute;font-weight:normal;font-style:normal;left:189.733px;top:84.6px;"><div style="display:inline-block;width:3.36px"> </div>million in the six months ended June 30, 2020, compared to $</div><div id="a28058_96_3" style="position:absolute;left:522.439px;top:84.6px;">0.1</div><div id="a28058_99_34" style="position:absolute;font-weight:normal;font-style:normal;left:539.079px;top:84.6px;"><div style="display:inline-block;width:3.36px"> </div>in the six months ended June 30, </div><div id="a28111" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">2019.<div style="display:inline-block;width:6.92px"> </div>The interest was offset by $</div><div id="a28111_35_3" style="position:absolute;left:189.093px;top:100px;">0.5</div><div id="a28111_38_77" style="position:absolute;font-weight:normal;font-style:normal;left:205.733px;top:100px;"><div style="display:inline-block;width:3.36px"> </div>million of payments during the six months ended June 30,<div style="display:inline-block;width:4.67px"> </div>2020, compared to $</div><div id="a28111_115_3" style="position:absolute;left:631.76px;top:100px;">0.3</div><div id="a28111_118_12" style="position:absolute;font-weight:normal;font-style:normal;left:648.399px;top:100px;"><div style="display:inline-block;width:3.36px"> </div>million of </div><div id="a28161" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">payments in the six months ended June 30, 2019.<div style="display:inline-block;width:8.04px"> </div>Due to the restricted nature of the proceeds, a corresponding<div style="display:inline-block;width:4.7px"> </div>deferred credit was </div><div id="a28206" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.8px;">established in other non-current liabilities for an equal<div style="display:inline-block;width:4.7px"> </div>and offsetting amount, and will remain until the restrictions<div style="display:inline-block;width:4.88px"> </div>lapse or the funds </div><div id="a28251" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:146.1px;">are exhausted via payments of claims and costs of defense.</div></div><div id="TextBlockContainer178" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:701px;height:31px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a28271" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The following table provides a reconciliation of cash,<div style="display:inline-block;width:4.76px"> </div>cash equivalents and restricted cash as of June 30, 2020 and 2019<div style="display:inline-block;width:1.37px"> </div>,<div style="display:inline-block;width:3.24px"> </div>and </div><div id="a28314" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">December 31, 2019 and 2018:</div></div><div id="TextBlockContainer181" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:727px;height:105px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a28326" style="position:absolute;font-weight:bold;font-style:normal;left:423.72px;top:0px;">June 30, </div><div id="a28329" style="position:absolute;font-weight:bold;font-style:normal;left:595.6px;top:0px;">December 31, </div><div id="a28332" style="position:absolute;font-weight:bold;font-style:normal;left:386.573px;top:17.6px;">2020 </div><div id="a28335" style="position:absolute;font-weight:bold;font-style:normal;left:481.64px;top:17.6px;">2019 </div><div id="a28338" style="position:absolute;font-weight:bold;font-style:normal;left:574.64px;top:17.6px;">2019 </div><div id="a28341" style="position:absolute;font-weight:bold;font-style:normal;left:667.76px;top:17.6px;">2018 </div><div id="a28343" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:35.2px;">Cash and cash equivalents </div><div id="a28345" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:35.2px;">$ </div><div id="a28347" style="position:absolute;left:394.253px;top:35.2px;">322,497</div><div id="a28350" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:35.2px;">$ </div><div id="a28352" style="position:absolute;left:496.04px;top:35.2px;">86,355</div><div id="a28355" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:35.2px;">$ </div><div id="a28357" style="position:absolute;left:582.32px;top:35.2px;">123,524</div><div id="a28360" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:35.2px;">$ </div><div id="a28362" style="position:absolute;left:675.28px;top:35.2px;">104,147</div><div id="a28364" 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="a28367" style="position:absolute;left:424.36px;top:52.8px;">85</div><div id="a28371" style="position:absolute;left:519.4px;top:52.8px;">—</div><div id="a28375" style="position:absolute;left:605.68px;top:52.8px;">353</div><div id="a28379" style="position:absolute;left:705.36px;top:52.8px;">—</div><div id="a28381" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:70.4px;">Restricted cash included in other assets </div><div id="a28384" style="position:absolute;left:401px;top:70.4px;">19,173</div><div id="a28388" style="position:absolute;left:496.04px;top:70.4px;">20,103</div><div id="a28392" style="position:absolute;left:589.04px;top:70.4px;">19,678</div><div id="a28396" style="position:absolute;left:682px;top:70.4px;">20,278</div><div id="a28398" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:88.8px;">Cash, cash equivalents and restricted cash </div><div id="a28402" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:88.8px;">$ </div><div id="a28404" style="position:absolute;left:394.253px;top:88.8px;">341,755</div><div id="a28407" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:88.8px;">$ </div><div id="a28409" style="position:absolute;left:489.32px;top:88.8px;">106,458</div><div id="a28412" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:88.8px;">$ </div><div id="a28414" style="position:absolute;left:582.32px;top:88.8px;">143,555</div><div id="a28417" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:88.8px;">$ </div><div id="a28419" style="position:absolute;left:675.28px;top:88.8px;">124,425</div></div>

The Company has restricted cash recorded in other assets related to proceeds from an inactive subsidiary of the Company which previously executed separate settlement and release agreements with two of its insurance carriers for an original total value of $35.0 million.

100000 100000 500000 300000

<div id="TextBlockContainer182" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:727px;height:105px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_180_XBRL_TS_017fb2abe70047849a324fdf1864768e" 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:727px;height:105px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a28326" style="position:absolute;font-weight:bold;font-style:normal;left:423.72px;top:0px;">June 30, </div><div id="a28329" style="position:absolute;font-weight:bold;font-style:normal;left:595.6px;top:0px;">December 31, </div><div id="a28332" style="position:absolute;font-weight:bold;font-style:normal;left:386.573px;top:17.6px;">2020 </div><div id="a28335" style="position:absolute;font-weight:bold;font-style:normal;left:481.64px;top:17.6px;">2019 </div><div id="a28338" style="position:absolute;font-weight:bold;font-style:normal;left:574.64px;top:17.6px;">2019 </div><div id="a28341" style="position:absolute;font-weight:bold;font-style:normal;left:667.76px;top:17.6px;">2018 </div><div id="a28343" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:35.2px;">Cash and cash equivalents </div><div id="a28345" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:35.2px;">$ </div><div id="a28347" style="position:absolute;left:394.253px;top:35.2px;">322,497</div><div id="a28350" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:35.2px;">$ </div><div id="a28352" style="position:absolute;left:496.04px;top:35.2px;">86,355</div><div id="a28355" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:35.2px;">$ </div><div id="a28357" style="position:absolute;left:582.32px;top:35.2px;">123,524</div><div id="a28360" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:35.2px;">$ </div><div id="a28362" style="position:absolute;left:675.28px;top:35.2px;">104,147</div><div id="a28364" 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="a28367" style="position:absolute;left:424.36px;top:52.8px;">85</div><div id="a28371" style="position:absolute;left:519.4px;top:52.8px;">—</div><div id="a28375" style="position:absolute;left:605.68px;top:52.8px;">353</div><div id="a28379" style="position:absolute;left:705.36px;top:52.8px;">—</div><div id="a28381" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:70.4px;">Restricted cash included in other assets </div><div id="a28384" style="position:absolute;left:401px;top:70.4px;">19,173</div><div id="a28388" style="position:absolute;left:496.04px;top:70.4px;">20,103</div><div id="a28392" style="position:absolute;left:589.04px;top:70.4px;">19,678</div><div id="a28396" style="position:absolute;left:682px;top:70.4px;">20,278</div><div id="a28398" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:88.8px;">Cash, cash equivalents and restricted cash </div><div id="a28402" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:88.8px;">$ </div><div id="a28404" style="position:absolute;left:394.253px;top:88.8px;">341,755</div><div id="a28407" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:88.8px;">$ </div><div id="a28409" style="position:absolute;left:489.32px;top:88.8px;">106,458</div><div id="a28412" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:88.8px;">$ </div><div id="a28414" style="position:absolute;left:582.32px;top:88.8px;">143,555</div><div id="a28417" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:88.8px;">$ </div><div id="a28419" style="position:absolute;left:675.28px;top:88.8px;">124,425</div></div></div></div>

322497000

86355000

123524000

104147000

85000

353000

19173000

20103000

19678000

20278000

341755000

106458000

143555000

124425000

<div id="TextBlockContainer184" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:577px;height:39px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a28421" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 14 – Goodwill and Other Intangible Assets </div><div id="a28437" 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>six months ended June 30, 2020 were as follows:</div></div><div id="TextBlockContainer187" 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="a28484" style="position:absolute;font-weight:bold;font-style:normal;left:568.68px;top:0px;">Global </div><div id="a28499" style="position:absolute;font-weight:bold;font-style:normal;left:562.12px;top:16.2px;">Specialty </div><div id="a28506" style="position:absolute;font-weight:bold;font-style:normal;left:278.093px;top:31.2px;">Americas </div><div id="a28509" style="position:absolute;font-weight:bold;font-style:normal;left:380.013px;top:31.2px;">EMEA </div><div id="a28512" style="position:absolute;font-weight:bold;font-style:normal;left:461.32px;top:31.2px;">Asia/Pacific </div><div id="a28515" style="position:absolute;font-weight:bold;font-style:normal;left:557.96px;top:31.2px;">Businesses </div><div id="a28518" style="position:absolute;font-weight:bold;font-style:normal;left:666px;top:31.2px;">Total </div><div id="a28520" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:47.8px;">Balance as of December 31, 2019 </div><div id="a28522" style="position:absolute;font-weight:normal;font-style:normal;left:263.533px;top:47.8px;">$ </div><div id="a28524" style="position:absolute;left:299.213px;top:47.8px;">216,385</div><div id="a28527" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:47.8px;">$ </div><div id="a28529" style="position:absolute;left:394.253px;top:47.8px;">133,018</div><div id="a28532" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:47.8px;">$ </div><div id="a28534" style="position:absolute;left:489.32px;top:47.8px;">141,727</div><div id="a28538" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:47.8px;">$ </div><div id="a28540" style="position:absolute;left:582.32px;top:47.8px;">116,075</div><div id="a28542" 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="a28544" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:47.8px;">$ </div><div id="a28546" style="position:absolute;left:675.28px;top:47.8px;">607,205</div><div id="a28549" style="position:absolute;font-weight:normal;font-style:normal;left:19.467px;top:65px;">Goodwill acquired </div><div id="a28552" style="position:absolute;left:329.293px;top:65px;">—</div><div id="a28556" style="position:absolute;left:417.64px;top:65px;">531</div><div id="a28560" style="position:absolute;left:519.4px;top:65px;">—</div><div id="a28564" style="position:absolute;left:612.4px;top:65px;">—</div><div id="a28568" style="position:absolute;left:698.64px;top:65px;">531</div><div id="a28571" style="position:absolute;font-weight:normal;font-style:normal;left:19.467px;top:81.9px;">Currency translation and other adjustments </div><div id="a28573" 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="a28575" style="position:absolute;left:307.693px;top:81.9px;">(4,569)</div><div id="a28579" style="position:absolute;left:402.76px;top:81.9px;">(3,256)</div><div id="a28583" style="position:absolute;left:502.6px;top:81.9px;">5,940</div><div id="a28587" style="position:absolute;left:590.8px;top:81.9px;">(1,202)</div><div id="a28591" style="position:absolute;left:683.76px;top:81.9px;">(3,087)</div><div id="a28593" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:99.8px;">Balance as of June 30, 2020 </div><div id="a28596" style="position:absolute;font-weight:normal;font-style:normal;left:263.533px;top:99.8px;">$ </div><div id="a28598" style="position:absolute;left:299.213px;top:99.8px;">211,816</div><div id="a28601" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:99.8px;">$ </div><div id="a28603" style="position:absolute;left:394.253px;top:99.8px;">130,293</div><div id="a28606" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:99.8px;">$ </div><div id="a28608" style="position:absolute;left:489.32px;top:99.8px;">147,667</div><div id="a28611" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:99.8px;">$ </div><div id="a28613" style="position:absolute;left:582.32px;top:99.8px;">114,873</div><div id="a28615" 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="a28617" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:99.8px;">$ </div><div id="a28619" style="position:absolute;left:675.28px;top:99.8px;">604,649</div></div><div id="TextBlockContainer190" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:725px;height:70px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a28621" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">Other adjustments in the table above include updates<div style="display:inline-block;width:4.7px"> </div>to the Company’s allocation<div style="display:inline-block;width:4.73px"> </div>of the Houghton purchase price and associated </div><div id="a28659" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">goodwill to each of the Company’s<div style="display:inline-block;width:4.97px"> </div>reportable segments during the first six months of 2020. </div><div id="a28689" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:38.7px;">Gross carrying amounts and accumulated amortization<div style="display:inline-block;width:4.73px"> </div>for definite-lived intangible assets as of June 30, 2020 and December<div style="display:inline-block;width:4.88px"> </div>31, </div><div id="a28727" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.9px;">2019 were as follows:</div></div><div id="TextBlockContainer193" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:115px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a28737" style="position:absolute;font-weight:bold;font-style:normal;left:402.76px;top:0px;">Gross Carrying </div><div id="a28740" style="position:absolute;font-weight:bold;font-style:normal;left:596.72px;top:0px;">Accumulated </div><div id="a28744" style="position:absolute;font-weight:bold;font-style:normal;left:424.04px;top:15px;">Amount </div><div id="a28747" style="position:absolute;font-weight:bold;font-style:normal;left:596.4px;top:15px;">Amortization </div><div id="a28751" style="position:absolute;font-weight:bold;font-style:normal;left:386.573px;top:31.2px;">2020 </div><div id="a28754" style="position:absolute;font-weight:bold;font-style:normal;left:481.64px;top:31.2px;">2019 </div><div id="a28757" style="position:absolute;font-weight:bold;font-style:normal;left:574.64px;top:31.2px;">2020 </div><div id="a28760" style="position:absolute;font-weight:bold;font-style:normal;left:667.76px;top:31.2px;">2019 </div><div id="a28762" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:48.2px;">Customer lists and rights to sell </div><div id="a28764" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:48.2px;">$ </div><div id="a28766" style="position:absolute;left:395.213px;top:48.2px;">781,188</div><div id="a28768" 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="a28770" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:48.2px;">$ </div><div id="a28772" style="position:absolute;left:490.28px;top:48.2px;">792,362</div><div id="a28774" 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="a28776" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:48.2px;">$ </div><div id="a28778" style="position:absolute;left:590px;top:48.2px;">72,803</div><div id="a28780" 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="a28782" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:48.2px;">$ </div><div id="a28784" style="position:absolute;left:682.96px;top:48.2px;">49,932</div><div id="a28786" 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="a28788" 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="a28790" style="position:absolute;left:395.213px;top:64.8px;">155,924</div><div id="a28792" 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="a28794" 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="a28796" style="position:absolute;left:490.28px;top:64.8px;">157,049</div><div id="a28798" 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="a28800" 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="a28802" style="position:absolute;left:590px;top:64.8px;">25,475</div><div id="a28804" 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="a28806" 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="a28808" style="position:absolute;left:682.96px;top:64.8px;">21,299</div><div id="a28810" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.9px;">Other </div><div id="a28812" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:81.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a28814" style="position:absolute;left:408.52px;top:81.9px;">6,266</div><div id="a28816" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:81.9px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a28818" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:81.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a28820" style="position:absolute;left:503.56px;top:81.9px;">6,261</div><div id="a28822" style="position:absolute;font-weight:normal;font-style:normal;left:538.44px;top:81.9px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a28824" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:81.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a28826" style="position:absolute;left:596.56px;top:81.9px;">5,684</div><div id="a28828" 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="a28830" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:81.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a28832" style="position:absolute;left:689.52px;top:81.9px;">5,776</div><div id="a28834" 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="a28838" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:99.7px;">$ </div><div id="a28840" style="position:absolute;left:395.213px;top:99.7px;">943,378</div><div id="a28842" 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="a28844" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:99.7px;">$ </div><div id="a28846" style="position:absolute;left:490.28px;top:99.7px;">955,672</div><div id="a28848" 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="a28850" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:99.7px;">$ </div><div id="a28852" style="position:absolute;left:583.28px;top:99.7px;">103,962</div><div id="a28854" 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="a28856" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:99.7px;">$ </div><div id="a28858" style="position:absolute;left:682.96px;top:99.7px;">77,007</div></div><div id="TextBlockContainer196" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a28860" 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="a28898" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">$</div><div id="a28898_1_4" style="position:absolute;left:11.147px;top:15.4px;">13.7</div><div id="a28898_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="a28898_19_4" style="position:absolute;left:108.933px;top:15.4px;">27.7</div><div id="a28898_23_98" 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 and six months<div style="display:inline-block;width:4.76px"> </div>ended June 30, 2020, respectively.<div style="display:inline-block;width:4.97px"> </div></div><div id="a28937" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Comparatively,<div style="display:inline-block;width:4.73px"> </div>the Company recorded $</div><div id="a28937_37_3" style="position:absolute;left:222.053px;top:30.7px;">1.8</div><div id="a28937_40_14" style="position:absolute;font-weight:normal;font-style:normal;left:238.733px;top:30.7px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a28937_54_3" style="position:absolute;left:313.133px;top:30.7px;">3.6</div><div id="a28937_57_73" style="position:absolute;font-weight:normal;font-style:normal;left:329.773px;top:30.7px;"><div style="display:inline-block;width:3.36px"> </div>million of amortization expense for the three and six months<div style="display:inline-block;width:4.76px"> </div>ended June </div><div id="a28977" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">30, 2019, respectively.</div></div><div id="TextBlockContainer198" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:598px;height:16px;display:inline-block;"><div id="a29037" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0px;">Estimated annual aggregate amortization expense for<div style="display:inline-block;width:4.7px"> </div>the current year and subsequent five years is as follows:</div></div><div id="TextBlockContainer202" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:366px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_200_XBRL_TS_a365e22f30ed407c9cd8c1d17986a8f3" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer201" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:366px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a29070" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0.8px;">For the year ended December 31, 2020 </div><div id="a29072" style="position:absolute;font-weight:normal;font-style:normal;left:275.533px;top:0.8px;">$ </div><div id="a29074" style="position:absolute;left:320.973px;top:0px;">55,145</div><div id="a29078" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:17.8px;">For the year ended December 31, 2021 </div><div id="a29081" style="position:absolute;left:320.973px;top:17px;">54,885</div><div id="a29085" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:34.9px;">For the year ended December 31, 2022 </div><div id="a29088" style="position:absolute;left:320.973px;top:33.9px;">54,732</div><div id="a29092" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51.8px;">For the year ended December 31, 2023 </div><div id="a29095" style="position:absolute;left:320.973px;top:51px;">54,515</div><div id="a29099" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68.8px;">For the year ended December 31, 2024 </div><div id="a29102" style="position:absolute;left:320.973px;top:68px;">54,089</div><div id="a29106" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:85.8px;">For the year ended December 31, 2025 </div><div id="a29109" style="position:absolute;left:320.973px;top:85px;">53,418</div></div></div></div><div id="TextBlockContainer206" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:523px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_204_XBRL_TS_1b0b2bf29df74cbbaacc5e90e1346451" 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:714px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a29112" 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="a29154" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">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="a29188" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">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="a29230" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">reporting units or indefinite-lived or long-lived assets.</div></div></div><div id="a29230_57_1" style="position:absolute;font-weight:normal;font-style:normal;left:292.973px;top:46.1px;"> </div><div id="a29248" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:69.4px;">As of March 31, 2020, the Company evaluated the initial imp<div style="display:inline-block;width:1.46px"> </div>act of COVID-19 on the Company’s<div style="display:inline-block;width:5.05px"> </div>operations, and the volatility </div><div id="a29291" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.7px;">and uncertainty in the economic outlook as a result of<div style="display:inline-block;width:4.76px"> </div>COVID-19 to determine if they indicated it was more likely<div style="display:inline-block;width:4.84px"> </div>than not that the </div><div id="a29341" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">carrying value of any of the Company’s<div style="display:inline-block;width:5.08px"> </div>reporting units or indefinite-lived or long-lived assets was not<div style="display:inline-block;width:4.71px"> </div>recoverable.<div style="display:inline-block;width:7.27px"> </div>The Company </div><div id="a29384" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">concluded that the impact of COVID-19 did not represent<div style="display:inline-block;width:4.92px"> </div>a triggering event as of March 31, 2020 with regards to the Company’s </div><div id="a29430" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.8px;">reporting units or indefinite-lived and long-lived assets, except<div style="display:inline-block;width:4.76px"> </div>for the Company’s Houghton<div style="display:inline-block;width:4.74px"> </div>and Fluidcare trademark and tradename </div><div id="a29468" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:146.1px;">indefinite-lived intangible assets.<div style="display:inline-block;width:7.47px"> </div></div><div id="a29478" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:169.5px;">The determination of estimated fair value of the Houghton<div style="display:inline-block;width:4.76px"> </div>and Fluidcare trademark and tradename indefinite-lived assets was </div><div id="a29514" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:184.7px;">based on a relief from royalty valuation method which<div style="display:inline-block;width:4.71px"> </div>requires management’s<div style="display:inline-block;width:4.75px"> </div>judgment and often involves the use of significant </div><div id="a29553" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:200px;">estimates and assumptions, including assumptions with respect<div style="display:inline-block;width:4.88px"> </div>to the weighted average cost of capital (“WACC”)<div style="display:inline-block;width:5.79px"> </div>as well as projected </div><div id="a29591" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:215.4px;">net sales.<div style="display:inline-block;width:6.87px"> </div>In the first quarter of 2020, as a result of the impact of<div style="display:inline-block;width:4.82px"> </div>COVID-19 driving a decrease in projected legacy Houghton<div style="display:inline-block;width:4.57px"> </div>net sales </div><div id="a29644" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:230.8px;">in the current year and the impact of the current year<div style="display:inline-block;width:4.74px"> </div>decline on projected future legacy Houghton net sales as well as an increase<div style="display:inline-block;width:4.82px"> </div>in </div><div id="a29695" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:246.1px;">the WACC<div style="display:inline-block;width:5px"> </div>assumption utilized in the quantitative impairment assessment, the<div style="display:inline-block;width:4.75px"> </div>Company concluded that the estimated fair values of </div><div id="a29732" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:261.3px;">the Houghton and Fluidcare trademark and tradename<div style="display:inline-block;width:4.7px"> </div>intangible assets were less than their carrying values.<div style="display:inline-block;width:7.77px"> </div>As a result, an </div><div id="a29770" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:276.7px;">impairment charge of $</div><div id="a29770_22_4" style="position:absolute;left:129.413px;top:276.7px;">38.0</div><div id="a29770_26_105" style="position:absolute;font-weight:normal;font-style:normal;left:152.773px;top:276.7px;"><div style="display:inline-block;width:3.2px"> </div>million to write down the carrying values of these intangible<div style="display:inline-block;width:4.76px"> </div>assets to their estimated fair values was </div><div id="a29812" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:292px;">recorded in the first quarter of 2020.<div style="display:inline-block;width:7.65px"> </div>The Company’s estimate of fair<div style="display:inline-block;width:4.67px"> </div>value and the carrying value of these Houghton and Fluidcare </div><div id="a29857" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:307.4px;">trademark and tradename indefinite-lived intangible assets as of<div style="display:inline-block;width:4.77px"> </div>June 30, 2020 was $</div><div id="a29857_84_5" style="position:absolute;left:457.32px;top:307.4px;">204.0</div><div id="a29857_89_43" style="position:absolute;font-weight:normal;font-style:normal;left:487.24px;top:307.4px;"><div style="display:inline-block;width:3.36px"> </div>million.<div style="display:inline-block;width:6.95px"> </div>Comparatively, these indefinite-</div><div id="a29893" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:322.8px;">lived intangible assets totaled $</div><div id="a29893_33_5" style="position:absolute;left:171.813px;top:322.8px;">242.0</div><div id="a29893_38_98" style="position:absolute;font-weight:normal;font-style:normal;left:201.893px;top:322.8px;"><div style="display:inline-block;width:3.36px"> </div>million as of December 31, 2019.<div style="display:inline-block;width:7.51px"> </div>In addition, the Company has other indefinite-lived intangible </div><div id="a29934" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:338.1px;">assets totaling $</div><div id="a29934_17_3" style="position:absolute;left:89.739px;top:338.1px;">1.1</div><div id="a29934_20_61" style="position:absolute;font-weight:normal;font-style:normal;left:106.373px;top:338.1px;"><div style="display:inline-block;width:3.36px"> </div>million as of both June 30, 2020 and December 31, 2019.<div style="display:inline-block;width:14.57px"> </div></div><div id="a29963" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:361.3px;">As of June 30, 2020, the Company continued to evaluate the on<div style="display:inline-block;width:1.48px"> </div>-going impact of COVID-19 on the Company’s<div style="display:inline-block;width:5.16px"> </div>operations, and </div><div id="a30008" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:376.7px;">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="a30056" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:392.1px;">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="a30101" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:407.4px;">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 June 30, 2020 with </div><div id="a30145" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:422.8px;">regards to any of the Company’s<div style="display:inline-block;width:4.82px"> </div>reporting units or indefinite-lived and long-lived intangible<div style="display:inline-block;width:4.73px"> </div>assets. </div><div id="a30178" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:446.1px;">While the Company concluded that the impact of COVID-19<div style="display:inline-block;width:4.81px"> </div>did not represent a triggering event as of June 30, 2020 for any<div style="display:inline-block;width:4.72px"> </div>of its </div><div id="a30228" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:461.3px;">other long-lived or indefinite-lived assets or reporting<div style="display:inline-block;width:4.7px"> </div>units, the Company will continue to evaluate the impact of COVID-19<div style="display:inline-block;width:4.92px"> </div>on the </div><div id="a30275" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:476.7px;">Company’s current and<div style="display:inline-block;width:4.75px"> </div>projected results.<div style="display:inline-block;width:6.92px"> </div>If the current economic conditions worsen or projections of the<div style="display:inline-block;width:4.81px"> </div>timeline for recovery are </div><div id="a30313" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:492.1px;">significantly extended, then the Company may conclude<div style="display:inline-block;width:4.82px"> </div>in the future that the impact from COVID-19 requires the need<div style="display:inline-block;width:4.78px"> </div>to perform </div><div id="a30356" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:507.4px;">further interim quantitative impairment tests, which could<div style="display:inline-block;width:4.7px"> </div>result in additional impairment charges in the future.</div></div>

<div id="TextBlockContainer188" 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_186_XBRL_TS_52b60c3f2caf4e6da6d400c2e629a373" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer187" 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="a28484" style="position:absolute;font-weight:bold;font-style:normal;left:568.68px;top:0px;">Global </div><div id="a28499" style="position:absolute;font-weight:bold;font-style:normal;left:562.12px;top:16.2px;">Specialty </div><div id="a28506" style="position:absolute;font-weight:bold;font-style:normal;left:278.093px;top:31.2px;">Americas </div><div id="a28509" style="position:absolute;font-weight:bold;font-style:normal;left:380.013px;top:31.2px;">EMEA </div><div id="a28512" style="position:absolute;font-weight:bold;font-style:normal;left:461.32px;top:31.2px;">Asia/Pacific </div><div id="a28515" style="position:absolute;font-weight:bold;font-style:normal;left:557.96px;top:31.2px;">Businesses </div><div id="a28518" style="position:absolute;font-weight:bold;font-style:normal;left:666px;top:31.2px;">Total </div><div id="a28520" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:47.8px;">Balance as of December 31, 2019 </div><div id="a28522" style="position:absolute;font-weight:normal;font-style:normal;left:263.533px;top:47.8px;">$ </div><div id="a28524" style="position:absolute;left:299.213px;top:47.8px;">216,385</div><div id="a28527" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:47.8px;">$ </div><div id="a28529" style="position:absolute;left:394.253px;top:47.8px;">133,018</div><div id="a28532" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:47.8px;">$ </div><div id="a28534" style="position:absolute;left:489.32px;top:47.8px;">141,727</div><div id="a28538" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:47.8px;">$ </div><div id="a28540" style="position:absolute;left:582.32px;top:47.8px;">116,075</div><div id="a28542" 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="a28544" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:47.8px;">$ </div><div id="a28546" style="position:absolute;left:675.28px;top:47.8px;">607,205</div><div id="a28549" style="position:absolute;font-weight:normal;font-style:normal;left:19.467px;top:65px;">Goodwill acquired </div><div id="a28552" style="position:absolute;left:329.293px;top:65px;">—</div><div id="a28556" style="position:absolute;left:417.64px;top:65px;">531</div><div id="a28560" style="position:absolute;left:519.4px;top:65px;">—</div><div id="a28564" style="position:absolute;left:612.4px;top:65px;">—</div><div id="a28568" style="position:absolute;left:698.64px;top:65px;">531</div><div id="a28571" style="position:absolute;font-weight:normal;font-style:normal;left:19.467px;top:81.9px;">Currency translation and other adjustments </div><div id="a28573" 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="a28575" style="position:absolute;left:307.693px;top:81.9px;">(4,569)</div><div id="a28579" style="position:absolute;left:402.76px;top:81.9px;">(3,256)</div><div id="a28583" style="position:absolute;left:502.6px;top:81.9px;">5,940</div><div id="a28587" style="position:absolute;left:590.8px;top:81.9px;">(1,202)</div><div id="a28591" style="position:absolute;left:683.76px;top:81.9px;">(3,087)</div><div id="a28593" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:99.8px;">Balance as of June 30, 2020 </div><div id="a28596" style="position:absolute;font-weight:normal;font-style:normal;left:263.533px;top:99.8px;">$ </div><div id="a28598" style="position:absolute;left:299.213px;top:99.8px;">211,816</div><div id="a28601" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:99.8px;">$ </div><div id="a28603" style="position:absolute;left:394.253px;top:99.8px;">130,293</div><div id="a28606" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:99.8px;">$ </div><div id="a28608" style="position:absolute;left:489.32px;top:99.8px;">147,667</div><div id="a28611" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:99.8px;">$ </div><div id="a28613" style="position:absolute;left:582.32px;top:99.8px;">114,873</div><div id="a28615" 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="a28617" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:99.8px;">$ </div><div id="a28619" style="position:absolute;left:675.28px;top:99.8px;">604,649</div></div></div></div>

216385000

133018000

141727000

116075000

607205000

531000

-4569000

-3256000

5940000

-1202000

-3087000

211816000

130293000

147667000

114873000

604649000

<div id="TextBlockContainer194" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:115px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_192_XBRL_TS_06f89985a76745be86842dc0628bee1a" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer193" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:115px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a28737" style="position:absolute;font-weight:bold;font-style:normal;left:402.76px;top:0px;">Gross Carrying </div><div id="a28740" style="position:absolute;font-weight:bold;font-style:normal;left:596.72px;top:0px;">Accumulated </div><div id="a28744" style="position:absolute;font-weight:bold;font-style:normal;left:424.04px;top:15px;">Amount </div><div id="a28747" style="position:absolute;font-weight:bold;font-style:normal;left:596.4px;top:15px;">Amortization </div><div id="a28751" style="position:absolute;font-weight:bold;font-style:normal;left:386.573px;top:31.2px;">2020 </div><div id="a28754" style="position:absolute;font-weight:bold;font-style:normal;left:481.64px;top:31.2px;">2019 </div><div id="a28757" style="position:absolute;font-weight:bold;font-style:normal;left:574.64px;top:31.2px;">2020 </div><div id="a28760" style="position:absolute;font-weight:bold;font-style:normal;left:667.76px;top:31.2px;">2019 </div><div id="a28762" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:48.2px;">Customer lists and rights to sell </div><div id="a28764" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:48.2px;">$ </div><div id="a28766" style="position:absolute;left:395.213px;top:48.2px;">781,188</div><div id="a28768" 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="a28770" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:48.2px;">$ </div><div id="a28772" style="position:absolute;left:490.28px;top:48.2px;">792,362</div><div id="a28774" 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="a28776" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:48.2px;">$ </div><div id="a28778" style="position:absolute;left:590px;top:48.2px;">72,803</div><div id="a28780" 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="a28782" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:48.2px;">$ </div><div id="a28784" style="position:absolute;left:682.96px;top:48.2px;">49,932</div><div id="a28786" 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="a28788" 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="a28790" style="position:absolute;left:395.213px;top:64.8px;">155,924</div><div id="a28792" 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="a28794" 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="a28796" style="position:absolute;left:490.28px;top:64.8px;">157,049</div><div id="a28798" 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="a28800" 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="a28802" style="position:absolute;left:590px;top:64.8px;">25,475</div><div id="a28804" 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="a28806" 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="a28808" style="position:absolute;left:682.96px;top:64.8px;">21,299</div><div id="a28810" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:81.9px;">Other </div><div id="a28812" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:81.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a28814" style="position:absolute;left:408.52px;top:81.9px;">6,266</div><div id="a28816" style="position:absolute;font-weight:normal;font-style:normal;left:443.56px;top:81.9px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a28818" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:81.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a28820" style="position:absolute;left:503.56px;top:81.9px;">6,261</div><div id="a28822" style="position:absolute;font-weight:normal;font-style:normal;left:538.44px;top:81.9px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a28824" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:81.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a28826" style="position:absolute;left:596.56px;top:81.9px;">5,684</div><div id="a28828" 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="a28830" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:81.9px;"><div style="display:inline-block;width:3.36px"> </div></div><div id="a28832" style="position:absolute;left:689.52px;top:81.9px;">5,776</div><div id="a28834" 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="a28838" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:99.7px;">$ </div><div id="a28840" style="position:absolute;left:395.213px;top:99.7px;">943,378</div><div id="a28842" 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="a28844" style="position:absolute;font-weight:normal;font-style:normal;left:453.48px;top:99.7px;">$ </div><div id="a28846" style="position:absolute;left:490.28px;top:99.7px;">955,672</div><div id="a28848" 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="a28850" style="position:absolute;font-weight:normal;font-style:normal;left:546.44px;top:99.7px;">$ </div><div id="a28852" style="position:absolute;left:583.28px;top:99.7px;">103,962</div><div id="a28854" 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="a28856" style="position:absolute;font-weight:normal;font-style:normal;left:639.6px;top:99.7px;">$ </div><div id="a28858" style="position:absolute;left:682.96px;top:99.7px;">77,007</div></div></div></div>

781188000

792362000

72803000

49932000

155924000 157049000

25475000

21299000

6266000

6261000

5684000

5776000

943378000

955672000

103962000

77007000

13700000

27700000

1800000

3600000

<div id="TextBlockContainer201" 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="a29070" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:0.8px;">For the year ended December 31, 2020 </div><div id="a29072" style="position:absolute;font-weight:normal;font-style:normal;left:275.533px;top:0.8px;">$ </div><div id="a29074" style="position:absolute;left:320.973px;top:0px;">55,145</div><div id="a29078" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:17.8px;">For the year ended December 31, 2021 </div><div id="a29081" style="position:absolute;left:320.973px;top:17px;">54,885</div><div id="a29085" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:34.9px;">For the year ended December 31, 2022 </div><div id="a29088" style="position:absolute;left:320.973px;top:33.9px;">54,732</div><div id="a29092" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51.8px;">For the year ended December 31, 2023 </div><div id="a29095" style="position:absolute;left:320.973px;top:51px;">54,515</div><div id="a29099" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68.8px;">For the year ended December 31, 2024 </div><div id="a29102" style="position:absolute;left:320.973px;top:68px;">54,089</div><div id="a29106" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:85.8px;">For the year ended December 31, 2025 </div><div id="a29109" style="position:absolute;left:320.973px;top:85px;">53,418</div></div>

55145000

54885000

54732000

54515000

54089000

53418000

<div id="TextBlockContainer205" 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="a29112" 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="a29154" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">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="a29188" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">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="a29230" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">reporting units or indefinite-lived or long-lived assets.</div></div>

38000000.0

204000000.0

242000000.0

1100000

<div id="TextBlockContainer208" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:427px;height:39px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a30440" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 15 – Debt<div style="display:inline-block;width:3.67px"> </div></div><div id="a30449" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">Debt as of June 30, 2020 and December 31, 2019<div style="display:inline-block;width:4.73px"> </div>includes the following:</div></div><div id="TextBlockContainer212" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:685px;height:218px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_210_XBRL_TS_a1ea4a4dd4b147d5bfada4e8581daa8f" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer211" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:685px;height:218px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a30478" style="position:absolute;font-weight:bold;font-style:normal;left:345.133px;top:0px;">As of June 30, 2020 </div><div id="a30481" style="position:absolute;font-weight:bold;font-style:normal;left:521.16px;top:0px;">As of December 31, 2019 </div><div id="a30487" style="position:absolute;font-weight:bold;font-style:normal;left:316.973px;top:16.8px;">Interest </div><div id="a30490" style="position:absolute;font-weight:bold;font-style:normal;left:402.28px;top:16.8px;">Outstanding<div style="display:inline-block;width:3.55px"> </div></div><div id="a30493" style="position:absolute;font-weight:bold;font-style:normal;left:514.12px;top:16.8px;">Interest </div><div id="a30495" style="position:absolute;font-weight:bold;font-style:normal;left:588.4px;top:16.8px;">Outstanding<div style="display:inline-block;width:3.55px"> </div></div><div id="a30501" style="position:absolute;font-weight:bold;font-style:normal;left:325.933px;top:31.2px;">Rate </div><div id="a30504" style="position:absolute;font-weight:bold;font-style:normal;left:415.24px;top:31.2px;">Balance </div><div id="a30507" style="position:absolute;font-weight:bold;font-style:normal;left:523.08px;top:31.2px;">Rate </div><div id="a30509" style="position:absolute;font-weight:bold;font-style:normal;left:601.36px;top:31.2px;">Balance </div><div id="a30513" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:47.4px;">Credit Facilities: </div><div id="a30528" style="position:absolute;font-weight:normal;font-style:normal;left:19.467px;top:64.8px;">Revolver </div><div id="a30531" style="position:absolute;left:327.053px;top:64.8px;display:flex;">1.67%</div><div id="a30534" style="position:absolute;font-weight:normal;font-style:normal;left:384.52px;top:64.8px;">$ </div><div id="a30536" style="position:absolute;left:443.88px;top:64.8px;">376,676</div><div id="a30539" style="position:absolute;left:514.12px;top:64.8px;display:flex;">3.20%</div><div id="a30542" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:64.8px;">$ </div><div id="a30544" style="position:absolute;left:629.84px;top:64.8px;">171,169</div><div id="a30549" style="position:absolute;font-weight:normal;font-style:normal;left:19.467px;top:81.8px;">U.S. Term Loan </div><div id="a30552" style="position:absolute;left:327.053px;top:81.8px;display:flex;">2.10%</div><div id="a30556" style="position:absolute;left:443.88px;top:81.8px;">585,000</div><div id="a30559" style="position:absolute;left:514.12px;top:81.8px;display:flex;">3.20%</div><div id="a30563" style="position:absolute;left:628.88px;top:81.8px;">600,000</div><div id="a30568" style="position:absolute;font-weight:normal;font-style:normal;left:19.467px;top:98.9px;">EURO Term Loan </div><div id="a30571" style="position:absolute;left:327.053px;top:98.9px;display:flex;">1.50%</div><div id="a30575" style="position:absolute;left:443.88px;top:98.9px;">147,584</div><div id="a30578" style="position:absolute;left:514.12px;top:98.9px;display:flex;">1.50%</div><div id="a30582" style="position:absolute;left:628.88px;top:98.9px;">151,188</div><div id="a30586" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115px;">Industrial development bonds </div><div id="a30589" style="position:absolute;left:327.053px;top:115.8px;display:flex;">5.26%</div><div id="a30593" style="position:absolute;left:450.6px;top:115.8px;">10,000</div><div id="a30596" style="position:absolute;left:514.12px;top:115.8px;display:flex;">5.26%</div><div id="a30600" style="position:absolute;left:635.6px;top:115.8px;">10,000</div><div id="a30604" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:132px;">Bank lines of credit and other debt obligations </div><div id="a30607" style="position:absolute;font-weight:normal;font-style:normal;left:323.213px;top:132.8px;">Various </div><div id="a30611" style="position:absolute;left:457.16px;top:132.8px;">1,910</div><div id="a30614" style="position:absolute;font-weight:normal;font-style:normal;left:510.28px;top:132.8px;">Various </div><div id="a30618" style="position:absolute;left:642.16px;top:132.8px;">2,608</div><div id="a30622" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:149.3px;">Total debt </div><div id="a30627" style="position:absolute;font-weight:normal;font-style:normal;left:384.52px;top:149.8px;">$ </div><div id="a30629" style="position:absolute;left:433.96px;top:149.8px;">1,121,170</div><div id="a30634" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:149.8px;">$ </div><div id="a30636" style="position:absolute;left:628.88px;top:149.8px;">934,965</div><div id="a30640" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:166px;">Less: debt issuance costs </div><div id="a30646" style="position:absolute;left:445.64px;top:166.9px;">(12,647)</div><div id="a30652" style="position:absolute;left:630.64px;top:166.9px;">(14,196)</div><div id="a30656" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:183.1px;">Less: short-term and current portion of long-term debts </div><div id="a30666" style="position:absolute;left:445.64px;top:183.9px;">(38,217)</div><div id="a30672" style="position:absolute;left:630.64px;top:183.9px;">(38,332)</div><div id="a30676" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:200.8px;">Total long<div style="display:inline-block;width:1.36px"> </div>-term debt </div><div id="a30683" style="position:absolute;font-weight:normal;font-style:normal;left:384.52px;top:201.8px;">$ </div><div id="a30685" style="position:absolute;left:434.92px;top:201.8px;">1,070,306</div><div id="a30690" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:201.8px;">$ </div><div id="a30692" style="position:absolute;left:629.84px;top:201.8px;">882,437</div></div></div></div><div id="TextBlockContainer214" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:592px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a30695" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Credit facilities </div><div id="a30699" 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 “New Credit Facility”) is comprised<div style="display:inline-block;width:4.8px"> </div>of a $</div><div id="a30699_97_5" style="position:absolute;left:558.119px;top:23.4px;">400.0</div><div id="a30699_102_23" style="position:absolute;font-weight:normal;font-style:normal;left:588.239px;top:23.4px;"><div style="display:inline-block;width:3.2px"> </div>million multicurrency </div><div id="a30735" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.7px;">revolver (the “Revolver”), a $</div><div id="a30735_30_5" style="position:absolute;left:163.973px;top:38.7px;">600.0</div><div id="a30735_35_85" style="position:absolute;font-weight:normal;font-style:normal;left:194.053px;top:38.7px;"><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="a30735_120_5" style="position:absolute;left:665.199px;top:38.7px;">150.0</div><div id="a30735_125_1" style="position:absolute;font-weight:normal;font-style:normal;left:695.279px;top:38.7px;"> </div><div id="a30779" 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="a30826" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">“Term Loans”<div style="display:inline-block;width:1.44px"> </div>)<div style="display:inline-block;width:3.42px"> </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="a30871" 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="a30910" 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 New Credit Facility can be<div style="display:inline-block;width:4.82px"> </div>increased by up to $</div><div id="a30910_98_5" style="position:absolute;left:552.68px;top:100px;">300.0</div><div id="a30910_103_26" style="position:absolute;font-weight:normal;font-style:normal;left:582.8px;top:100px;"><div style="display:inline-block;width:3.2px"> </div>million at the Company’s </div><div id="a30952" 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="a30991" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.6px;">Borrowings under the New Credit Facility bear interest at a<div style="display:inline-block;width:4.6px"> </div>base rate or LIBOR plus an applicable margin<div style="display:inline-block;width:4.73px"> </div>based upon the Company’s </div><div id="a31035" 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="a31071" 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 interest rate incurred on the outstanding borrowings under<div style="display:inline-block;width:4.7px"> </div>the New Credit Facility during the six months </div><div id="a31114" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:176.7px;">ended June 30, 2020 was approximately </div><div id="a31114_38_3" style="position:absolute;left:221.933px;top:176.7px;">2.5</div><div id="a31114_41_91" style="position:absolute;font-weight:normal;font-style:normal;left:238.573px;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 New Credit Facility, </div><div id="a31157" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:192px;">the Company is required to pay a commitment fee ranging<div style="display:inline-block;width:4.8px"> </div>from </div><div id="a31157_61_3" style="position:absolute;left:348.653px;top:192px;">0.2</div><div id="a31157_64_5" style="position:absolute;font-weight:normal;font-style:normal;left:365.453px;top:192px;">% to </div><div id="a31157_69_3" style="position:absolute;left:393.453px;top:192px;">0.3</div><div id="a31157_72_51" style="position:absolute;font-weight:normal;font-style:normal;left:410.253px;top:192px;">% depending on the Company’s<div style="display:inline-block;width:4.8px"> </div>leverage ratio to the </div><div id="a31201" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:207.4px;">lenders under the Revolver in respect of the unutilized<div style="display:inline-block;width:4.81px"> </div>commitments thereunder.<div style="display:inline-block;width:7.93px"> </div>The Company has unused capacity under the </div><div id="a31237" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:222.6px;">Revolver of approximately $</div><div id="a31237_27_2" style="position:absolute;left:158.213px;top:222.6px;">15</div><div id="a31237_29_58" style="position:absolute;font-weight:normal;font-style:normal;left:171.493px;top:222.6px;"><div style="display:inline-block;width:3.36px"> </div>million, net of bank letters of credit of approximately<div style="display:inline-block;width:4.57px"> </div>$</div><div id="a31237_87_1" style="position:absolute;left:469px;top:222.6px;">8</div><div id="a31237_88_46" style="position:absolute;font-weight:normal;font-style:normal;left:475.72px;top:222.6px;"><div style="display:inline-block;width:3.36px"> </div>million, as of June 30, 2020, as the Company </div><div id="a31284" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:237.9px;">drew down most of the available capacity under the Revolver<div style="display:inline-block;width:4.75px"> </div>in the second half of March 2020 as a precautionary measure<div style="display:inline-block;width:4.79px"> </div>due to the </div><div id="a31333" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:253.3px;">uncertainty of the impact of COVID-19 on the Company<div style="display:inline-block;width:4.79px"> </div>as well as on the U.S. capital markets and bank liquidity,<div style="display:inline-block;width:5.43px"> </div>among other </div><div id="a31379" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:268.7px;">potential effects.<div style="display:inline-block;width:7.29px"> </div></div><div id="a31384" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:292px;">The New Credit Facility is subject to certain financial<div style="display:inline-block;width:4.72px"> </div>and other covenants.<div style="display:inline-block;width:7.15px"> </div></div><div id="a31384_78_47" style="position:absolute;left:435.24px;top:292px;">The Company’s initial consolidated net debt to </div><div id="a31424" style="position:absolute;left:4.427px;top:307.4px;">consolidated adjusted EBITDA ratio cannot exceed 4.25 to 1, with step downs in the permitted ratio over the course of the New Credit </div><div id="a31471" style="position:absolute;left:4.427px;top:322.6px;">Facility. The Company’s consolidated adjusted EBITDA to interest expense ratio cannot be less than 3.0 to 1. The New Credit </div><div id="a31512" style="position:absolute;left:4.427px;top:337.9px;">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="a31559" style="position:absolute;left:4.427px;top:353.3px;">exceeds the greater of $50.0 million and 20% of consolidated adjusted EBITDA unless the ratio of consolidated net debt to </div><div id="a31600" style="position:absolute;left:4.427px;top:368.7px;">consolidated adjusted EBITDA is less than 2.0 to 1, in which case there is no such limitation on amount.</div><div id="a31600_104_2" style="position:absolute;font-weight:normal;font-style:normal;left:561.96px;top:368.7px;"><div style="display:inline-block;width:6.72px"> </div></div><div id="a31600_106_24" style="position:absolute;left:568.68px;top:368.7px;">As of June 30, 2020 and </div><div id="a31650" style="position:absolute;left:4.427px;top:384px;">December 31, 2019, the Company was in compliance with all of the New Credit Facility covenants.</div><div id="a31650_95_32" style="position:absolute;font-weight:normal;font-style:normal;left:537px;top:384px;"><div style="display:inline-block;width:6.72px"> </div>The Term Loans have<div style="display:inline-block;width:4.72px"> </div>quarterly </div><div id="a31693" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:399.3px;">principal amortization during their respective five-year<div style="display:inline-block;width:4.72px"> </div>maturities, with </div><div id="a31693_74_3" style="position:absolute;left:387.693px;top:399.3px;">5.0</div><div id="a31693_77_59" style="position:absolute;font-weight:normal;font-style:normal;left:404.493px;top:399.3px;">% amortization of the principal balance due in years 1 and </div><div id="a31733" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:414.6px;">2, </div><div id="a31733_3_3" style="position:absolute;left:17.867px;top:414.6px;">7.5</div><div id="a31733_6_17" style="position:absolute;font-weight:normal;font-style:normal;left:34.667px;top:414.6px;">% in year 3, and </div><div id="a31733_23_4" style="position:absolute;left:124.933px;top:414.6px;">10.0</div><div id="a31733_27_107" style="position:absolute;font-weight:normal;font-style:normal;left:148.293px;top:414.6px;">% in years 4 and 5, with the remaining principal amount due at maturity.<div style="display:inline-block;width:9.04px"> </div>During the six months ended June </div><div id="a31785" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:430px;">30, 2020, the Company made two quarterly amortization payments<div style="display:inline-block;width:4.86px"> </div>related to the Term<div style="display:inline-block;width:4.84px"> </div>Loans totaling $</div><div id="a31785_99_4" style="position:absolute;left:556.679px;top:430px;">18.7</div><div id="a31785_103_26" style="position:absolute;font-weight:normal;font-style:normal;left:580.079px;top:430px;"><div style="display:inline-block;width:3.36px"> </div>million.<div style="display:inline-block;width:6.79px"> </div>The New Credit </div><div id="a31830" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:445.3px;">Facility is guaranteed by certain of the Company’s<div style="display:inline-block;width:5.24px"> </div>domestic subsidiaries and is secured by first priority liens<div style="display:inline-block;width:4.77px"> </div>on substantially all of the </div><div id="a31874" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:460.7px;">assets of the Company and the domestic subsidiary guarantors,<div style="display:inline-block;width:4.85px"> </div>subject to certain customary exclusions.<div style="display:inline-block;width:7.65px"> </div>The obligations of the Dutch </div><div id="a31913" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:476.1px;">borrower are guaranteed only by certain foreign subsidiaries<div style="display:inline-block;width:4.75px"> </div>on an unsecured basis. </div><div id="a31937" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:499.3px;">The New Credit Facility requires the Company to deliver to<div style="display:inline-block;width:4.61px"> </div>the administrative<div style="display:inline-block;width:3.87px"> </div>agent and each lender the audited consolidated </div><div id="a31976" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:514.6px;">financial statements of the Company for each fiscal year<div style="display:inline-block;width:4.81px"> </div>in a prescribed period of time.<div style="display:inline-block;width:7.19px"> </div>On March 17, 2020, the Company,<div style="display:inline-block;width:5.19px"> </div>the </div><div id="a32020" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:530px;">administrative agent, and all parties to the New Credit Facility<div style="display:inline-block;width:4.9px"> </div>entered into an amendment (the “Amendment”) which allowed<div style="display:inline-block;width:4.81px"> </div>the </div><div id="a32058" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:545.3px;">Company to deliver the annual audited consolidated financial<div style="display:inline-block;width:4.74px"> </div>statements for the year ended December 31, 2019<div style="display:inline-block;width:4.78px"> </div>to the bank group no </div><div id="a32100" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:560.7px;">later than April 16, 2020 as compared to the initial deadline<div style="display:inline-block;width:4.57px"> </div>of March 17, 2020.<div style="display:inline-block;width:7.31px"> </div>The Company delivered its 2019 audited consolidated </div><div id="a32144" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:576.1px;">financial statements to the administrative agent and each<div style="display:inline-block;width:4.82px"> </div>lender on March 20, 2020 in compliance with the Amendment. </div></div><div id="TextBlockContainer216" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:223px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a32233" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The New Credit Facility required the Company to fix its variable<div style="display:inline-block;width:4.8px"> </div>interest rates on at least </div><div id="a32233_92_2" style="position:absolute;left:506.92px;top:0px;">20</div><div id="a32233_94_40" style="position:absolute;font-weight:normal;font-style:normal;left:520.2px;top:0px;">% of its total Term<div style="display:inline-block;width:4.81px"> </div>Loans.<div style="display:inline-block;width:6.79px"> </div>In order to </div><div id="a32283" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">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 New Credit </div><div id="a32326" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Facility, in November<div style="display:inline-block;width:4.78px"> </div>2019, the Company entered into $</div><div id="a32326_54_5" style="position:absolute;left:306.733px;top:30.7px;">170.0</div><div id="a32326_59_75" style="position:absolute;font-weight:normal;font-style:normal;left:336.813px;top:30.7px;"><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 </div><div id="a32370" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">of </div><div id="a32370_3_4" style="position:absolute;left:18.987px;top:45.9px;">1.64</div><div id="a32370_7_125" style="position:absolute;font-weight:normal;font-style:normal;left:42.346px;top:45.9px;">% plus an applicable margin as provided in the<div style="display:inline-block;width:4.77px"> </div>New Credit Facility, based on<div style="display:inline-block;width:4.81px"> </div>the Company’s consolidated<div style="display:inline-block;width:4.6px"> </div>net leverage ratio.<div style="display:inline-block;width:3.71px"> </div></div><div id="a32413" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">At the time the Company entered into the swaps, and<div style="display:inline-block;width:4.7px"> </div>as of June 30, 2020, this aggregate rate was </div><div id="a32413_97_3" style="position:absolute;left:525.8px;top:61.3px;">3.1</div><div id="a32413_100_28" style="position:absolute;font-weight:normal;font-style:normal;left:542.6px;top:61.3px;">%.<div style="display:inline-block;width:6.74px"> </div>See Note 18 of Notes to </div><div id="a32465" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:76.6px;">Condensed Consolidated Financial Statements. </div><div id="a32473" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:100px;">The Company capitalized $</div><div id="a32473_25_4" style="position:absolute;left:175.493px;top:100px;">23.7</div><div id="a32473_29_96" style="position:absolute;font-weight:normal;font-style:normal;left:198.853px;top:100px;"><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 New Credit </div><div id="a32511" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">Facility.<div style="display:inline-block;width:7.72px"> </div>Approximately $</div><div id="a32511_26_4" style="position:absolute;left:146.053px;top:115.4px;">15.5</div><div id="a32511_30_106" style="position:absolute;font-weight:normal;font-style:normal;left:169.253px;top:115.4px;"><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 </div><div id="a32554" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.7px;">long-term debt on the Company’s<div style="display:inline-block;width:4.87px"> </div>Condensed Consolidated Balance Sheet.<div style="display:inline-block;width:7.66px"> </div>Approximately $</div><div id="a32554_86_3" style="position:absolute;left:501px;top:130.7px;">8.3</div><div id="a32554_89_39" style="position:absolute;font-weight:normal;font-style:normal;left:517.64px;top:130.7px;"><div style="display:inline-block;width:3.36px"> </div>million of the capitalized costs were </div><div id="a32590" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:145.9px;">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="a32625" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:161.3px;">capitalized costs are being amortized into interest expense<div style="display:inline-block;width:4.87px"> </div>over the five-year term of the New Credit Facility.<div style="display:inline-block;width:8.53px"> </div>As of June 30, 2020 and </div><div id="a32674" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:176.6px;">December 31, 2019, the Company had $</div><div id="a32674_36_4" style="position:absolute;left:220.133px;top:176.6px;">12.6</div><div id="a32674_40_14" style="position:absolute;font-weight:normal;font-style:normal;left:243.533px;top:176.6px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a32674_54_4" style="position:absolute;left:317.933px;top:176.6px;">14.2</div><div id="a32674_58_74" style="position:absolute;font-weight:normal;font-style:normal;left:341.133px;top:176.6px;"><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="a32718" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:192px;">long-term debt.<div style="display:inline-block;width:7.11px"> </div>As of June 30, 2020 and December 31, 2019, the Company<div style="display:inline-block;width:4.82px"> </div>had $</div><div id="a32718_77_3" style="position:absolute;left:441.959px;top:192px;">6.7</div><div id="a32718_80_14" style="position:absolute;font-weight:normal;font-style:normal;left:458.759px;top:192px;"><div style="display:inline-block;width:3.36px"> </div>million and $</div><div id="a32718_94_3" style="position:absolute;left:533.159px;top:192px;">7.6</div><div id="a32718_97_32" style="position:absolute;font-weight:normal;font-style:normal;left:549.799px;top:192px;"><div style="display:inline-block;width:3.36px"> </div>million, respectively, of<div style="display:inline-block;width:4.6px"> </div>debt </div><div id="a32766" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:207.4px;">issuance costs recorded within other assets.</div></div><div id="TextBlockContainer218" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:732px;height:240px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a32781" style="position:absolute;font-weight:normal;font-style:italic;left:4.427px;top:0px;">Industrial development bonds </div><div id="a32787" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.2px;">As of June 30, 2020 and December 31, 2019, the Company<div style="display:inline-block;width:4.66px"> </div>had fixed rate, industrial development authority bonds totaling<div style="display:inline-block;width:4.94px"> </div>$</div><div id="a32787_120_4" style="position:absolute;left:691.279px;top:23.2px;">10.0</div><div id="a32787_124_1" style="position:absolute;font-weight:normal;font-style:normal;left:714.639px;top:23.2px;"> </div><div id="a32828" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.6px;">million in principal amount due in 2028.<div style="display:inline-block;width:7.75px"> </div>These bonds have similar covenants to the New Credit Facility noted<div style="display:inline-block;width:4.84px"> </div>above. </div><div id="a32867" 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="a32883" 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 one of its foreign subsidiaries, which<div style="display:inline-block;width:4.74px"> </div>are not </div><div id="a32925" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100.6px;">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="a32962" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.8px;">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="a32997" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:131.2px;">capacity under these arrangements as of June 30, 2020<div style="display:inline-block;width:4.83px"> </div>was approximately $</div><div id="a32997_73_2" style="position:absolute;left:409.8px;top:131.2px;">37</div><div id="a32997_75_10" style="position:absolute;font-weight:normal;font-style:normal;left:423.08px;top:131.2px;"><div style="display:inline-block;width:3.36px"> </div>million. </div><div id="a33025" style="position:absolute;left:28.427px;top:154.6px;">In addition to the bank letters of credit described in the “Credit facilities” subsection above, the Company’s only other off-balance </div><div id="a33067" style="position:absolute;left:4.427px;top:169.9px;">sheet arrangements include certain financial and other guarantees. The Company’s total bank letters of credit and guarantees </div><div id="a33102" style="position:absolute;left:4.427px;top:185.3px;">outstanding as of June 30, 2020 were approximately $14 million.</div><div id="a33102_63_1" style="position:absolute;font-weight:normal;font-style:normal;left:351.373px;top:185.3px;"> </div><div id="a33124" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:208.6px;">For the three and six months ended June 30, 2020,<div style="display:inline-block;width:4.66px"> </div>the Company incurred the following debt related expenses included<div style="display:inline-block;width:4.88px"> </div>within </div><div id="a33165" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:224px;">Interest expense, net, in the Condensed Consolidated Statements<div style="display:inline-block;width:4.81px"> </div>of Operations:</div></div><div id="TextBlockContainer221" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:722px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a33187" style="position:absolute;font-weight:bold;font-style:normal;left:384.013px;top:0px;">Three Months Ended </div><div id="a33190" style="position:absolute;font-weight:bold;font-style:normal;left:578.16px;top:0px;">Six Months Ended </div><div id="a33193" style="position:absolute;font-weight:bold;font-style:normal;left:421px;top:17px;">June 30, </div><div id="a33196" style="position:absolute;font-weight:bold;font-style:normal;left:607.12px;top:17px;">June 30, </div><div id="a33199" style="position:absolute;font-weight:bold;font-style:normal;left:384.813px;top:33.9px;">2020 </div><div id="a33202" style="position:absolute;font-weight:bold;font-style:normal;left:477.8px;top:33.9px;">2019 </div><div id="a33205" style="position:absolute;font-weight:bold;font-style:normal;left:570.92px;top:33.9px;">2020 </div><div id="a33208" style="position:absolute;font-weight:bold;font-style:normal;left:663.92px;top:33.9px;">2019 </div><div id="a33210" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:50.9px;">Interest expense </div><div id="a33212" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:50.9px;">$ </div><div id="a33214" style="position:absolute;left:404.04px;top:50.9px;">5,951</div><div id="a33217" style="position:absolute;font-weight:normal;font-style:normal;left:451.4px;top:50.9px;">$ </div><div id="a33219" style="position:absolute;left:497px;top:50.9px;">1,255</div><div id="a33222" style="position:absolute;font-weight:normal;font-style:normal;left:544.52px;top:50.9px;">$ </div><div id="a33224" style="position:absolute;left:583.44px;top:50.9px;">13,663</div><div id="a33227" style="position:absolute;font-weight:normal;font-style:normal;left:637.52px;top:50.9px;">$ </div><div id="a33229" style="position:absolute;left:682.96px;top:50.9px;">2,427</div><div id="a33231" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;">Amortization of debt issuance costs </div><div id="a33234" style="position:absolute;left:404.04px;top:68px;">1,188</div><div id="a33238" style="position:absolute;left:513.8px;top:68px;">28</div><div id="a33242" style="position:absolute;left:590px;top:68px;">2,375</div><div id="a33246" style="position:absolute;left:699.76px;top:68px;">70</div><div id="a33248" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:85.9px;">Total </div><div id="a33250" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:85.9px;">$ </div><div id="a33252" style="position:absolute;left:404.04px;top:85.9px;">7,139</div><div id="a33255" style="position:absolute;font-weight:normal;font-style:normal;left:451.4px;top:85.9px;">$ </div><div id="a33257" style="position:absolute;left:497px;top:85.9px;">1,283</div><div id="a33260" style="position:absolute;font-weight:normal;font-style:normal;left:544.52px;top:85.9px;">$ </div><div id="a33262" style="position:absolute;left:583.44px;top:85.9px;">16,038</div><div id="a33265" style="position:absolute;font-weight:normal;font-style:normal;left:637.52px;top:85.9px;">$ </div><div id="a33267" style="position:absolute;left:682.96px;top:85.9px;">2,497</div></div><div id="TextBlockContainer224" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:701px;height:31px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a33269" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">Based on the variable interest rates associated with the New<div style="display:inline-block;width:4.71px"> </div>Credit Facility, as of June<div style="display:inline-block;width:4.86px"> </div>30, 2020 and December 31, 2019, the </div><div id="a33313" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">amounts at which the Company’s<div style="display:inline-block;width:4.9px"> </div>total debt were recorded are not materially different<div style="display:inline-block;width:4.82px"> </div>from their fair market value.</div></div>

<div id="TextBlockContainer211" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:685px;height:218px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a30478" style="position:absolute;font-weight:bold;font-style:normal;left:345.133px;top:0px;">As of June 30, 2020 </div><div id="a30481" style="position:absolute;font-weight:bold;font-style:normal;left:521.16px;top:0px;">As of December 31, 2019 </div><div id="a30487" style="position:absolute;font-weight:bold;font-style:normal;left:316.973px;top:16.8px;">Interest </div><div id="a30490" style="position:absolute;font-weight:bold;font-style:normal;left:402.28px;top:16.8px;">Outstanding<div style="display:inline-block;width:3.55px"> </div></div><div id="a30493" style="position:absolute;font-weight:bold;font-style:normal;left:514.12px;top:16.8px;">Interest </div><div id="a30495" style="position:absolute;font-weight:bold;font-style:normal;left:588.4px;top:16.8px;">Outstanding<div style="display:inline-block;width:3.55px"> </div></div><div id="a30501" style="position:absolute;font-weight:bold;font-style:normal;left:325.933px;top:31.2px;">Rate </div><div id="a30504" style="position:absolute;font-weight:bold;font-style:normal;left:415.24px;top:31.2px;">Balance </div><div id="a30507" style="position:absolute;font-weight:bold;font-style:normal;left:523.08px;top:31.2px;">Rate </div><div id="a30509" style="position:absolute;font-weight:bold;font-style:normal;left:601.36px;top:31.2px;">Balance </div><div id="a30513" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:47.4px;">Credit Facilities: </div><div id="a30528" style="position:absolute;font-weight:normal;font-style:normal;left:19.467px;top:64.8px;">Revolver </div><div id="a30531" style="position:absolute;left:327.053px;top:64.8px;display:flex;">1.67%</div><div id="a30534" style="position:absolute;font-weight:normal;font-style:normal;left:384.52px;top:64.8px;">$ </div><div id="a30536" style="position:absolute;left:443.88px;top:64.8px;">376,676</div><div id="a30539" style="position:absolute;left:514.12px;top:64.8px;display:flex;">3.20%</div><div id="a30542" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:64.8px;">$ </div><div id="a30544" style="position:absolute;left:629.84px;top:64.8px;">171,169</div><div id="a30549" style="position:absolute;font-weight:normal;font-style:normal;left:19.467px;top:81.8px;">U.S. Term Loan </div><div id="a30552" style="position:absolute;left:327.053px;top:81.8px;display:flex;">2.10%</div><div id="a30556" style="position:absolute;left:443.88px;top:81.8px;">585,000</div><div id="a30559" style="position:absolute;left:514.12px;top:81.8px;display:flex;">3.20%</div><div id="a30563" style="position:absolute;left:628.88px;top:81.8px;">600,000</div><div id="a30568" style="position:absolute;font-weight:normal;font-style:normal;left:19.467px;top:98.9px;">EURO Term Loan </div><div id="a30571" style="position:absolute;left:327.053px;top:98.9px;display:flex;">1.50%</div><div id="a30575" style="position:absolute;left:443.88px;top:98.9px;">147,584</div><div id="a30578" style="position:absolute;left:514.12px;top:98.9px;display:flex;">1.50%</div><div id="a30582" style="position:absolute;left:628.88px;top:98.9px;">151,188</div><div id="a30586" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115px;">Industrial development bonds </div><div id="a30589" style="position:absolute;left:327.053px;top:115.8px;display:flex;">5.26%</div><div id="a30593" style="position:absolute;left:450.6px;top:115.8px;">10,000</div><div id="a30596" style="position:absolute;left:514.12px;top:115.8px;display:flex;">5.26%</div><div id="a30600" style="position:absolute;left:635.6px;top:115.8px;">10,000</div><div id="a30604" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:132px;">Bank lines of credit and other debt obligations </div><div id="a30607" style="position:absolute;font-weight:normal;font-style:normal;left:323.213px;top:132.8px;">Various </div><div id="a30611" style="position:absolute;left:457.16px;top:132.8px;">1,910</div><div id="a30614" style="position:absolute;font-weight:normal;font-style:normal;left:510.28px;top:132.8px;">Various </div><div id="a30618" style="position:absolute;left:642.16px;top:132.8px;">2,608</div><div id="a30622" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:149.3px;">Total debt </div><div id="a30627" style="position:absolute;font-weight:normal;font-style:normal;left:384.52px;top:149.8px;">$ </div><div id="a30629" style="position:absolute;left:433.96px;top:149.8px;">1,121,170</div><div id="a30634" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:149.8px;">$ </div><div id="a30636" style="position:absolute;left:628.88px;top:149.8px;">934,965</div><div id="a30640" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:166px;">Less: debt issuance costs </div><div id="a30646" style="position:absolute;left:445.64px;top:166.9px;">(12,647)</div><div id="a30652" style="position:absolute;left:630.64px;top:166.9px;">(14,196)</div><div id="a30656" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:183.1px;">Less: short-term and current portion of long-term debts </div><div id="a30666" style="position:absolute;left:445.64px;top:183.9px;">(38,217)</div><div id="a30672" style="position:absolute;left:630.64px;top:183.9px;">(38,332)</div><div id="a30676" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:200.8px;">Total long<div style="display:inline-block;width:1.36px"> </div>-term debt </div><div id="a30683" style="position:absolute;font-weight:normal;font-style:normal;left:384.52px;top:201.8px;">$ </div><div id="a30685" style="position:absolute;left:434.92px;top:201.8px;">1,070,306</div><div id="a30690" style="position:absolute;font-weight:normal;font-style:normal;left:571.6px;top:201.8px;">$ </div><div id="a30692" style="position:absolute;left:629.84px;top:201.8px;">882,437</div></div>

1.67

376676000

3.20

171169000

2.10

585000000

3.20

600000000

1.50

147584000

1.50

151188000

5.26

10000000

5.26

10000000

1910000

2608000

1121170000

934965000

12647000

14196000

38217000

38332000

1070306000

882437000

400000000.0

600000000.0

150000000.0

300000000.0 300000000.0

0.025

0.002

0.003

15000000

8000000

The Company’s initial consolidated net debt to consolidated adjusted EBITDA ratio cannot exceed 4.25 to 1, with step downs in the permitted ratio over the course of the New Credit Facility. The Company’s consolidated adjusted EBITDA to interest expense ratio cannot be less than 3.0 to 1. The New 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 June 30, 2020 and December 31, 2019, the Company was in compliance with all of the New Credit Facility covenants.

0.050 0.050 0.075 0.100

18700000

0.20

170000000.0

0.0164

0.031

23700000

15500000

8300000

12600000

14200000

6700000 7600000 10000000.0 37000000

In addition to the bank letters of credit described in the “Credit facilities” subsection above, the Company’s only other off-balance sheet arrangements include certain financial and other guarantees. The Company’s total bank letters of credit and guarantees outstanding as of June 30, 2020 were approximately $14 million.

14000000

<div id="TextBlockContainer222" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:722px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_220_XBRL_TS_207f68d821cb4a09ac6e703a54e25dd0" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer221" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:722px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a33187" style="position:absolute;font-weight:bold;font-style:normal;left:384.013px;top:0px;">Three Months Ended </div><div id="a33190" style="position:absolute;font-weight:bold;font-style:normal;left:578.16px;top:0px;">Six Months Ended </div><div id="a33193" style="position:absolute;font-weight:bold;font-style:normal;left:421px;top:17px;">June 30, </div><div id="a33196" style="position:absolute;font-weight:bold;font-style:normal;left:607.12px;top:17px;">June 30, </div><div id="a33199" style="position:absolute;font-weight:bold;font-style:normal;left:384.813px;top:33.9px;">2020 </div><div id="a33202" style="position:absolute;font-weight:bold;font-style:normal;left:477.8px;top:33.9px;">2019 </div><div id="a33205" style="position:absolute;font-weight:bold;font-style:normal;left:570.92px;top:33.9px;">2020 </div><div id="a33208" style="position:absolute;font-weight:bold;font-style:normal;left:663.92px;top:33.9px;">2019 </div><div id="a33210" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:50.9px;">Interest expense </div><div id="a33212" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:50.9px;">$ </div><div id="a33214" style="position:absolute;left:404.04px;top:50.9px;">5,951</div><div id="a33217" style="position:absolute;font-weight:normal;font-style:normal;left:451.4px;top:50.9px;">$ </div><div id="a33219" style="position:absolute;left:497px;top:50.9px;">1,255</div><div id="a33222" style="position:absolute;font-weight:normal;font-style:normal;left:544.52px;top:50.9px;">$ </div><div id="a33224" style="position:absolute;left:583.44px;top:50.9px;">13,663</div><div id="a33227" style="position:absolute;font-weight:normal;font-style:normal;left:637.52px;top:50.9px;">$ </div><div id="a33229" style="position:absolute;left:682.96px;top:50.9px;">2,427</div><div id="a33231" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;">Amortization of debt issuance costs </div><div id="a33234" style="position:absolute;left:404.04px;top:68px;">1,188</div><div id="a33238" style="position:absolute;left:513.8px;top:68px;">28</div><div id="a33242" style="position:absolute;left:590px;top:68px;">2,375</div><div id="a33246" style="position:absolute;left:699.76px;top:68px;">70</div><div id="a33248" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:85.9px;">Total </div><div id="a33250" style="position:absolute;font-weight:normal;font-style:normal;left:358.413px;top:85.9px;">$ </div><div id="a33252" style="position:absolute;left:404.04px;top:85.9px;">7,139</div><div id="a33255" style="position:absolute;font-weight:normal;font-style:normal;left:451.4px;top:85.9px;">$ </div><div id="a33257" style="position:absolute;left:497px;top:85.9px;">1,283</div><div id="a33260" style="position:absolute;font-weight:normal;font-style:normal;left:544.52px;top:85.9px;">$ </div><div id="a33262" style="position:absolute;left:583.44px;top:85.9px;">16,038</div><div id="a33265" style="position:absolute;font-weight:normal;font-style:normal;left:637.52px;top:85.9px;">$ </div><div id="a33267" style="position:absolute;left:682.96px;top:85.9px;">2,497</div></div></div></div>

5951000 1255000 13663000 2427000

1188000

28000

2375000

70000

7139000

1283000

16038000

2497000

<div id="TextBlockContainer226" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:688px;height:39px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a33402" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 16 – Equity </div><div id="a33410" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">The following tables present the changes in equity,<div style="display:inline-block;width:5.44px"> </div>net of tax, for the three and six months ended June 30, 2020<div style="display:inline-block;width:4.72px"> </div>and 2019:</div></div><div id="TextBlockContainer230" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:730px;height:352px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_228_XBRL_TS_3b8720ea59b247a5b9c39498c0ef7247" 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:730px;height:352px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a33468" style="position:absolute;font-weight:bold;font-style:normal;left:463.72px;top:0px;">Accumulated </div><div id="a33482" style="position:absolute;font-weight:bold;font-style:normal;left:317.773px;top:14.9px;">Capital in </div><div id="a33488" style="position:absolute;font-weight:bold;font-style:normal;left:484.52px;top:14.9px;">Other </div><div id="a33499" style="position:absolute;font-weight:bold;font-style:normal;left:255.053px;top:29.9px;">Common </div><div id="a33502" style="position:absolute;font-weight:bold;font-style:normal;left:320.013px;top:29.9px;">Excess of </div><div id="a33505" style="position:absolute;font-weight:bold;font-style:normal;left:391.053px;top:29.9px;">Retained </div><div id="a33508" style="position:absolute;font-weight:bold;font-style:normal;left:457px;top:29.9px;">Comprehensive </div><div id="a33511" style="position:absolute;font-weight:bold;font-style:normal;left:555.08px;top:29.9px;">Noncontrolling </div><div id="a33519" style="position:absolute;font-weight:bold;font-style:normal;left:265.453px;top:45px;">Stock </div><div id="a33522" style="position:absolute;font-weight:bold;font-style:normal;left:317.293px;top:45px;">Par Value </div><div id="a33525" style="position:absolute;font-weight:bold;font-style:normal;left:390.573px;top:45px;">Earnings </div><div id="a33528" style="position:absolute;font-weight:bold;font-style:normal;left:488.52px;top:45px;">Loss </div><div id="a33531" style="position:absolute;font-weight:bold;font-style:normal;left:575.76px;top:45px;">Interest </div><div id="a33534" style="position:absolute;font-weight:bold;font-style:normal;left:669.84px;top:45px;">Total </div><div id="a33536" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:61.6px;">Balance at March 31, 2020 </div><div id="a33538" style="position:absolute;font-weight:normal;font-style:normal;left:254.413px;top:61.6px;">$ </div><div id="a33540" style="position:absolute;left:267.853px;top:61.6px;">17,752</div><div id="a33543" style="position:absolute;font-weight:normal;font-style:normal;left:315.533px;top:61.6px;">$ </div><div id="a33545" style="position:absolute;left:329.293px;top:61.6px;">888,533</div><div id="a33548" style="position:absolute;font-weight:normal;font-style:normal;left:383.533px;top:61.6px;">$ </div><div id="a33550" style="position:absolute;left:402.28px;top:61.6px;">376,853</div><div id="a33553" style="position:absolute;font-weight:normal;font-style:normal;left:456.52px;top:61.6px;">$ </div><div id="a33555" style="position:absolute;left:494.44px;top:61.6px;">(121,524)</div><div id="a33558" style="position:absolute;font-weight:normal;font-style:normal;left:553.48px;top:61.6px;">$ </div><div id="a33560" style="position:absolute;left:618.64px;top:61.6px;">418</div><div id="a33563" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:61.6px;">$ </div><div id="a33565" style="position:absolute;left:663.44px;top:61.6px;">1,162,032</div><div id="a33568" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:78.6px;">Net (loss) income </div><div id="a33571" style="position:absolute;left:291.213px;top:78.6px;">—</div><div id="a33575" style="position:absolute;left:359.373px;top:78.6px;">—</div><div id="a33579" style="position:absolute;left:410.76px;top:78.6px;">(7,735)</div><div id="a33583" style="position:absolute;left:529.32px;top:78.6px;">—</div><div id="a33587" style="position:absolute;left:625.36px;top:78.6px;">13</div><div id="a33591" style="position:absolute;left:681.84px;top:78.6px;">(7,722)</div><div id="a33594" 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="a33615" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:112.6px;">income </div><div id="a33618" style="position:absolute;left:291.213px;top:112.6px;">—</div><div id="a33622" style="position:absolute;left:359.373px;top:112.6px;">—</div><div id="a33626" style="position:absolute;left:432.36px;top:112.6px;">—</div><div id="a33630" style="position:absolute;left:505.96px;top:112.6px;">12,260</div><div id="a33634" style="position:absolute;left:631.92px;top:112.6px;">1</div><div id="a33638" style="position:absolute;left:680.08px;top:112.6px;">12,261</div><div id="a33641" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:129.6px;">Dividends ($</div><div id="a33641_12_5" style="position:absolute;left:83.786px;top:129.6px;">0.385</div><div id="a33641_17_12" style="position:absolute;font-weight:normal;font-style:normal;left:113.706px;top:129.6px;"><div style="display:inline-block;width:3.36px"> </div>per share) </div><div id="a33644" style="position:absolute;left:291.213px;top:129.6px;">—</div><div id="a33648" style="position:absolute;left:359.373px;top:129.6px;">—</div><div id="a33652" style="position:absolute;left:410.76px;top:129.6px;">(6,853)</div><div id="a33656" style="position:absolute;left:529.32px;top:129.6px;">—</div><div id="a33660" style="position:absolute;left:625.36px;top:129.6px;">—</div><div id="a33664" style="position:absolute;left:681.84px;top:129.6px;">(6,853)</div><div id="a33667" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:146.6px;">Share issuance and equity-based </div><div id="a33690" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:163.7px;">compensation plans </div><div id="a33693" style="position:absolute;left:291.213px;top:163.7px;">48</div><div id="a33697" style="position:absolute;left:342.573px;top:163.7px;">7,575</div><div id="a33701" style="position:absolute;left:432.36px;top:163.7px;">—</div><div id="a33705" style="position:absolute;left:529.32px;top:163.7px;">—</div><div id="a33709" style="position:absolute;left:625.36px;top:163.7px;">—</div><div id="a33713" style="position:absolute;left:686.64px;top:163.7px;">7,623</div><div id="a33715" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:181.6px;">Balance at June 30, 2020 </div><div id="a33717" style="position:absolute;font-weight:normal;font-style:normal;left:254.413px;top:181.6px;">$ </div><div id="a33719" style="position:absolute;left:267.853px;top:181.6px;">17,800</div><div id="a33722" style="position:absolute;font-weight:normal;font-style:normal;left:315.533px;top:181.6px;">$ </div><div id="a33724" style="position:absolute;left:329.293px;top:181.6px;">896,108</div><div id="a33727" style="position:absolute;font-weight:normal;font-style:normal;left:383.533px;top:181.6px;">$ </div><div id="a33729" style="position:absolute;left:402.28px;top:181.6px;">362,265</div><div id="a33732" style="position:absolute;font-weight:normal;font-style:normal;left:456.52px;top:181.6px;">$ </div><div id="a33734" style="position:absolute;left:494.44px;top:181.6px;">(109,264)</div><div id="a33737" style="position:absolute;font-weight:normal;font-style:normal;left:553.48px;top:181.6px;">$ </div><div id="a33739" style="position:absolute;left:618.64px;top:181.6px;">432</div><div id="a33742" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:181.6px;">$ </div><div id="a33744" style="position:absolute;left:663.44px;top:181.6px;">1,167,341</div><div id="a33766" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:216.7px;">Balance at March 31, 2019 </div><div id="a33768" style="position:absolute;font-weight:normal;font-style:normal;left:254.413px;top:216.7px;">$ </div><div id="a33770" style="position:absolute;left:267.853px;top:216.7px;">13,334</div><div id="a33773" style="position:absolute;font-weight:normal;font-style:normal;left:315.533px;top:216.7px;">$ </div><div id="a33775" style="position:absolute;left:336.013px;top:216.7px;">96,832</div><div id="a33778" style="position:absolute;font-weight:normal;font-style:normal;left:383.533px;top:216.7px;">$ </div><div id="a33780" style="position:absolute;left:402.28px;top:216.7px;">413,992</div><div id="a33783" style="position:absolute;font-weight:normal;font-style:normal;left:456.52px;top:216.7px;">$ </div><div id="a33785" style="position:absolute;left:501px;top:216.7px;">(79,167)</div><div id="a33788" style="position:absolute;font-weight:normal;font-style:normal;left:553.48px;top:216.7px;">$ </div><div id="a33790" style="position:absolute;left:608.56px;top:216.7px;">1,372</div><div id="a33793" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:216.7px;">$ </div><div id="a33795" style="position:absolute;left:673.36px;top:216.7px;">446,363</div><div id="a33798" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:233.6px;">Net income </div><div id="a33801" style="position:absolute;left:291.213px;top:233.6px;">—</div><div id="a33805" style="position:absolute;left:359.373px;top:233.6px;">—</div><div id="a33809" style="position:absolute;left:409px;top:233.6px;">15,591</div><div id="a33813" style="position:absolute;left:529.32px;top:233.6px;">—</div><div id="a33817" style="position:absolute;left:625.36px;top:233.6px;">58</div><div id="a33821" style="position:absolute;left:680.08px;top:233.6px;">15,649</div><div id="a33824" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:250.6px;">Amounts reported in other comprehensive<div style="display:inline-block;width:4.32px"> </div></div><div id="a33845" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:267.7px;">income </div><div id="a33848" style="position:absolute;left:291.213px;top:267.7px;">—</div><div id="a33852" style="position:absolute;left:359.373px;top:267.7px;">—</div><div id="a33856" style="position:absolute;left:432.36px;top:267.7px;">—</div><div id="a33860" style="position:absolute;left:522.6px;top:267.7px;">286</div><div id="a33864" style="position:absolute;left:625.36px;top:267.7px;">24</div><div id="a33868" style="position:absolute;left:696.72px;top:267.7px;">310</div><div id="a33871" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:284.7px;">Dividends ($</div><div id="a33871_12_5" style="position:absolute;left:83.786px;top:284.7px;">0.385</div><div id="a33871_17_12" style="position:absolute;font-weight:normal;font-style:normal;left:113.706px;top:284.7px;"><div style="display:inline-block;width:3.36px"> </div>per share) </div><div id="a33874" style="position:absolute;left:291.213px;top:284.7px;">—</div><div id="a33878" style="position:absolute;left:359.373px;top:284.7px;">—</div><div id="a33882" style="position:absolute;left:410.76px;top:284.7px;">(5,135)</div><div id="a33886" style="position:absolute;left:529.32px;top:284.7px;">—</div><div id="a33890" style="position:absolute;left:625.36px;top:284.7px;">—</div><div id="a33894" style="position:absolute;left:681.84px;top:284.7px;">(5,135)</div><div id="a33897" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:301.6px;">Share issuance and equity-based </div><div id="a33920" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:318.6px;">compensation plans </div><div id="a33923" style="position:absolute;left:297.773px;top:318.6px;">4</div><div id="a33927" style="position:absolute;left:352.653px;top:318.6px;">770</div><div id="a33931" style="position:absolute;left:432.36px;top:318.6px;">—</div><div id="a33935" style="position:absolute;left:529.32px;top:318.6px;">—</div><div id="a33939" style="position:absolute;left:625.36px;top:318.6px;">—</div><div id="a33943" style="position:absolute;left:696.72px;top:318.6px;">774</div><div id="a33945" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:336.7px;">Balance at June 30, 2019 </div><div id="a33947" style="position:absolute;font-weight:normal;font-style:normal;left:254.413px;top:336.7px;">$ </div><div id="a33949" style="position:absolute;left:267.853px;top:336.7px;">13,338</div><div id="a33952" style="position:absolute;font-weight:normal;font-style:normal;left:315.533px;top:335.7px;">$ </div><div id="a33954" style="position:absolute;left:336.013px;top:336.7px;">97,602</div><div id="a33957" style="position:absolute;font-weight:normal;font-style:normal;left:383.533px;top:336.7px;">$ </div><div id="a33959" style="position:absolute;left:402.28px;top:336.7px;">424,448</div><div id="a33962" style="position:absolute;font-weight:normal;font-style:normal;left:456.52px;top:336.7px;">$ </div><div id="a33964" style="position:absolute;left:501px;top:336.7px;">(78,881)</div><div id="a33967" style="position:absolute;font-weight:normal;font-style:normal;left:553.48px;top:336.7px;">$ </div><div id="a33969" style="position:absolute;left:608.56px;top:336.7px;">1,454</div><div id="a33972" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:336.7px;">$ </div><div id="a33974" style="position:absolute;left:673.36px;top:336.7px;">457,961</div></div></div></div><div id="TextBlockContainer232" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:704px;height:47px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a33976" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">The retained earnings and total equity amounts included<div style="display:inline-block;width:4.77px"> </div>in the table above as of March 31, 2020 reflect certain immaterial </div><div id="a34017" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">adjustments made in the second quarter of 2020 to the Company’s<div style="display:inline-block;width:5.6px"> </div>cumulative effect of an accounting change effective<div style="display:inline-block;width:5.19px"> </div>January 1, </div><div id="a34057" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">2020.<div style="display:inline-block;width:6.92px"> </div>See Note 3 of Notes to Condensed Financial Statements.</div></div><div id="TextBlockContainer235" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:730px;height:472px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a34143" style="position:absolute;font-weight:bold;font-style:normal;left:463.72px;top:0px;">Accumulated </div><div id="a34157" style="position:absolute;font-weight:bold;font-style:normal;left:317.773px;top:15px;">Capital in </div><div id="a34163" style="position:absolute;font-weight:bold;font-style:normal;left:484.52px;top:15px;">Other </div><div id="a34174" style="position:absolute;font-weight:bold;font-style:normal;left:255.053px;top:29.9px;">Common </div><div id="a34177" style="position:absolute;font-weight:bold;font-style:normal;left:320.013px;top:29.9px;">Excess of </div><div id="a34180" style="position:absolute;font-weight:bold;font-style:normal;left:391.053px;top:29.9px;">Retained </div><div id="a34183" style="position:absolute;font-weight:bold;font-style:normal;left:457px;top:29.9px;">Comprehensive </div><div id="a34186" style="position:absolute;font-weight:bold;font-style:normal;left:555.08px;top:29.9px;">Noncontrolling </div><div id="a34194" style="position:absolute;font-weight:bold;font-style:normal;left:265.453px;top:45px;">Stock </div><div id="a34197" style="position:absolute;font-weight:bold;font-style:normal;left:317.293px;top:45px;">Par Value </div><div id="a34200" style="position:absolute;font-weight:bold;font-style:normal;left:390.573px;top:45px;">Earnings </div><div id="a34203" style="position:absolute;font-weight:bold;font-style:normal;left:488.52px;top:45px;">Loss </div><div id="a34206" style="position:absolute;font-weight:bold;font-style:normal;left:575.76px;top:45px;">Interest </div><div id="a34209" style="position:absolute;font-weight:bold;font-style:normal;left:669.84px;top:45px;">Total </div><div id="a34211" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:61.6px;">Balance at December 31, 2019 </div><div id="a34213" style="position:absolute;font-weight:normal;font-style:normal;left:254.413px;top:61.6px;">$ </div><div id="a34215" style="position:absolute;left:267.853px;top:61.6px;">17,735</div><div id="a34218" style="position:absolute;font-weight:normal;font-style:normal;left:315.533px;top:61.6px;">$ </div><div id="a34220" style="position:absolute;left:329.293px;top:61.6px;">888,218</div><div id="a34223" style="position:absolute;font-weight:normal;font-style:normal;left:383.533px;top:61.6px;">$ </div><div id="a34225" style="position:absolute;left:402.28px;top:61.6px;">412,979</div><div id="a34228" style="position:absolute;font-weight:normal;font-style:normal;left:456.52px;top:61.6px;">$ </div><div id="a34230" style="position:absolute;left:501px;top:61.6px;">(78,170)</div><div id="a34233" style="position:absolute;font-weight:normal;font-style:normal;left:553.48px;top:61.6px;">$ </div><div id="a34235" style="position:absolute;left:608.56px;top:61.6px;">1,604</div><div id="a34238" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:61.6px;">$ </div><div id="a34240" style="position:absolute;left:663.44px;top:61.6px;">1,242,366</div><div id="a34243" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:78.7px;">Cumulative effect of an accounting change </div><div id="a34246" style="position:absolute;left:291.213px;top:78.7px;">—</div><div id="a34250" style="position:absolute;left:359.373px;top:78.7px;">—</div><div id="a34254" style="position:absolute;left:420.68px;top:78.7px;">(911)</div><div id="a34258" style="position:absolute;left:529.32px;top:78.7px;">—</div><div id="a34262" style="position:absolute;left:625.36px;top:78.7px;">—</div><div id="a34266" style="position:absolute;left:691.76px;top:78.7px;">(911)</div><div id="a34268" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:95.7px;">Balance at January 1, 2020 </div><div id="a34271" style="position:absolute;left:267.853px;top:95.7px;">17,735</div><div id="a34275" style="position:absolute;left:329.293px;top:95.7px;">888,218</div><div id="a34279" style="position:absolute;left:402.28px;top:95.7px;">412,068</div><div id="a34283" style="position:absolute;left:501px;top:95.7px;">(78,170)</div><div id="a34287" style="position:absolute;left:608.56px;top:95.7px;">1,604</div><div id="a34291" style="position:absolute;left:663.44px;top:95.7px;">1,241,455</div><div id="a34294" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:112.6px;">Net (loss) income </div><div id="a34297" style="position:absolute;left:291.213px;top:112.6px;">—</div><div id="a34301" style="position:absolute;left:359.373px;top:112.6px;">—</div><div id="a34305" style="position:absolute;left:404.04px;top:112.6px;">(36,116)</div><div id="a34309" style="position:absolute;left:529.32px;top:112.6px;">—</div><div id="a34313" style="position:absolute;left:625.36px;top:112.6px;">50</div><div id="a34317" style="position:absolute;left:675.12px;top:112.6px;">(36,066)</div><div id="a34320" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:129.6px;">Amounts reported in other comprehensive<div style="display:inline-block;width:4.32px"> </div></div><div id="a34341" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:146.7px;">loss </div><div id="a34344" style="position:absolute;left:291.213px;top:146.7px;">—</div><div id="a34348" style="position:absolute;left:359.373px;top:146.7px;">—</div><div id="a34352" style="position:absolute;left:432.36px;top:146.7px;">—</div><div id="a34356" style="position:absolute;left:501px;top:146.7px;">(31,094)</div><div id="a34360" style="position:absolute;left:613.68px;top:146.7px;">(131)</div><div id="a34364" style="position:absolute;left:675.12px;top:146.7px;">(31,225)</div><div id="a34367" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:163.7px;">Dividends ($</div><div id="a34367_12_5" style="position:absolute;left:83.786px;top:163.7px;">0.770</div><div id="a34367_17_12" style="position:absolute;font-weight:normal;font-style:normal;left:113.706px;top:163.7px;"><div style="display:inline-block;width:3.36px"> </div>per share) </div><div id="a34370" style="position:absolute;left:291.213px;top:163.7px;">—</div><div id="a34374" style="position:absolute;left:359.373px;top:163.7px;">—</div><div id="a34378" style="position:absolute;left:404.04px;top:163.7px;">(13,687)</div><div id="a34382" style="position:absolute;left:529.32px;top:163.7px;">—</div><div id="a34386" style="position:absolute;left:625.36px;top:163.7px;">—</div><div id="a34390" style="position:absolute;left:675.12px;top:163.7px;">(13,687)</div><div id="a34393" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:180.6px;">Acquisition of noncontrolling interest </div><div id="a34396" style="position:absolute;left:291.213px;top:180.6px;">—</div><div id="a34400" style="position:absolute;left:347.693px;top:180.6px;">(707)</div><div id="a34404" style="position:absolute;left:432.36px;top:180.6px;">—</div><div id="a34408" style="position:absolute;left:529.32px;top:180.6px;">—</div><div id="a34412" style="position:absolute;left:613.68px;top:180.6px;">(340)</div><div id="a34416" style="position:absolute;left:681.84px;top:180.6px;">(1,047)</div><div id="a34419" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:197.6px;">Distribution to noncontrolling interest </div><div id="a34440" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:214.8px;">affiliate shareholders </div><div id="a34443" style="position:absolute;left:291.213px;top:214.8px;">—</div><div id="a34447" style="position:absolute;left:359.373px;top:214.8px;">—</div><div id="a34451" style="position:absolute;left:432.36px;top:214.8px;">—</div><div id="a34455" style="position:absolute;left:529.32px;top:214.8px;">—</div><div id="a34459" style="position:absolute;left:613.68px;top:214.8px;">(751)</div><div id="a34463" style="position:absolute;left:691.76px;top:214.8px;">(751)</div><div id="a34466" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:231.7px;">Share issuance and equity-based </div><div id="a34489" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:248.7px;">compensation plans </div><div id="a34492" style="position:absolute;left:291.213px;top:248.7px;">65</div><div id="a34496" style="position:absolute;left:342.573px;top:248.7px;">8,597</div><div id="a34500" style="position:absolute;left:432.36px;top:248.7px;">—</div><div id="a34504" style="position:absolute;left:529.32px;top:248.7px;">—</div><div id="a34508" style="position:absolute;left:625.36px;top:248.7px;">—</div><div id="a34512" style="position:absolute;left:686.64px;top:248.7px;">8,662</div><div id="a34514" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:266.8px;">Balance at June 30, 2020 </div><div id="a34516" style="position:absolute;font-weight:normal;font-style:normal;left:254.413px;top:266.8px;">$ </div><div id="a34518" style="position:absolute;left:267.853px;top:266.8px;">17,800</div><div id="a34521" style="position:absolute;font-weight:normal;font-style:normal;left:315.533px;top:266.8px;">$ </div><div id="a34523" style="position:absolute;left:329.293px;top:266.8px;">896,108</div><div id="a34526" style="position:absolute;font-weight:normal;font-style:normal;left:383.533px;top:266.8px;">$ </div><div id="a34528" style="position:absolute;left:402.28px;top:266.8px;">362,265</div><div id="a34531" style="position:absolute;font-weight:normal;font-style:normal;left:456.52px;top:266.8px;">$ </div><div id="a34533" style="position:absolute;left:494.44px;top:266.8px;">(109,264)</div><div id="a34536" style="position:absolute;font-weight:normal;font-style:normal;left:553.48px;top:266.8px;">$ </div><div id="a34538" style="position:absolute;left:618.64px;top:266.8px;">432</div><div id="a34541" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:266.8px;">$ </div><div id="a34543" style="position:absolute;left:663.44px;top:266.8px;">1,167,341</div><div id="a34565" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:301.6px;">Balance at December 31, 2018 </div><div id="a34567" style="position:absolute;font-weight:normal;font-style:normal;left:254.413px;top:301.6px;">$ </div><div id="a34569" style="position:absolute;left:267.853px;top:301.6px;">13,338</div><div id="a34572" style="position:absolute;font-weight:normal;font-style:normal;left:315.533px;top:301.6px;">$ </div><div id="a34574" style="position:absolute;left:336.013px;top:301.6px;">97,304</div><div id="a34577" style="position:absolute;font-weight:normal;font-style:normal;left:383.533px;top:301.6px;">$ </div><div id="a34579" style="position:absolute;left:402.28px;top:301.6px;">405,125</div><div id="a34582" style="position:absolute;font-weight:normal;font-style:normal;left:456.52px;top:301.6px;">$ </div><div id="a34584" style="position:absolute;left:501px;top:301.6px;">(80,715)</div><div id="a34587" style="position:absolute;font-weight:normal;font-style:normal;left:553.48px;top:301.6px;">$ </div><div id="a34589" style="position:absolute;left:608.56px;top:301.6px;">1,317</div><div id="a34592" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:301.6px;">$ </div><div id="a34594" style="position:absolute;left:673.36px;top:301.6px;">436,369</div><div id="a34597" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:318.8px;">Cumulative effect of an accounting change </div><div id="a34600" style="position:absolute;left:291.213px;top:318.8px;">—</div><div id="a34604" style="position:absolute;left:359.373px;top:318.8px;">—</div><div id="a34608" style="position:absolute;left:427.4px;top:318.8px;">(44)</div><div id="a34612" style="position:absolute;left:529.32px;top:318.8px;">—</div><div id="a34616" style="position:absolute;left:625.36px;top:318.8px;">—</div><div id="a34620" style="position:absolute;left:698.48px;top:318.8px;">(44)</div><div id="a34622" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:335.7px;">Balance at January 1, 2019 </div><div id="a34625" style="position:absolute;left:267.853px;top:335.7px;">13,338</div><div id="a34629" style="position:absolute;left:336.013px;top:335.7px;">97,304</div><div id="a34633" style="position:absolute;left:402.28px;top:335.7px;">405,081</div><div id="a34637" style="position:absolute;left:501px;top:335.7px;">(80,715)</div><div id="a34641" style="position:absolute;left:608.56px;top:335.7px;">1,317</div><div id="a34645" style="position:absolute;left:673.36px;top:335.7px;">436,325</div><div id="a34648" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:352.7px;">Net income </div><div id="a34651" style="position:absolute;left:291.213px;top:352.7px;">—</div><div id="a34655" style="position:absolute;left:359.373px;top:352.7px;">—</div><div id="a34659" style="position:absolute;left:409px;top:352.7px;">29,435</div><div id="a34663" style="position:absolute;left:529.32px;top:352.7px;">—</div><div id="a34667" style="position:absolute;left:618.64px;top:352.7px;">114</div><div id="a34671" style="position:absolute;left:680.08px;top:352.7px;">29,549</div><div id="a34674" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:369.6px;">Amounts reported in other comprehensive<div style="display:inline-block;width:4.32px"> </div></div><div id="a34695" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:386.8px;">income </div><div id="a34698" style="position:absolute;left:291.213px;top:386.8px;">—</div><div id="a34702" style="position:absolute;left:359.373px;top:386.8px;">—</div><div id="a34706" style="position:absolute;left:432.36px;top:386.8px;">—</div><div id="a34710" style="position:absolute;left:512.52px;top:386.8px;">1,834</div><div id="a34714" style="position:absolute;left:625.36px;top:386.8px;">23</div><div id="a34718" style="position:absolute;left:686.64px;top:386.8px;">1,857</div><div id="a34721" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:403.7px;">Dividends ($</div><div id="a34721_12_5" style="position:absolute;left:83.786px;top:403.7px;">0.755</div><div id="a34721_17_12" style="position:absolute;font-weight:normal;font-style:normal;left:113.706px;top:403.7px;"><div style="display:inline-block;width:3.36px"> </div>per share) </div><div id="a34724" style="position:absolute;left:291.213px;top:403.7px;">—</div><div id="a34728" style="position:absolute;left:359.373px;top:403.7px;">—</div><div id="a34732" style="position:absolute;left:404.04px;top:403.7px;">(10,068)</div><div id="a34736" style="position:absolute;left:529.32px;top:403.7px;">—</div><div id="a34740" style="position:absolute;left:625.36px;top:403.7px;">—</div><div id="a34744" style="position:absolute;left:675.12px;top:403.7px;">(10,068)</div><div id="a34747" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:420.7px;">Share issuance and equity-based </div><div id="a34770" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:437.6px;">compensation plans </div><div id="a34773" style="position:absolute;left:291.213px;top:437.6px;">—</div><div id="a34777" style="position:absolute;left:352.653px;top:437.6px;">298</div><div id="a34781" style="position:absolute;left:432.36px;top:437.6px;">—</div><div id="a34785" style="position:absolute;left:529.32px;top:437.6px;">—</div><div id="a34789" style="position:absolute;left:625.36px;top:437.6px;">—</div><div id="a34793" style="position:absolute;left:696.72px;top:437.6px;">298</div><div id="a34795" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:455.7px;">Balance at June 30, 2019 </div><div id="a34797" style="position:absolute;font-weight:normal;font-style:normal;left:254.413px;top:455.7px;">$ </div><div id="a34799" style="position:absolute;left:267.853px;top:455.7px;">13,338</div><div id="a34802" style="position:absolute;font-weight:normal;font-style:normal;left:315.533px;top:455.7px;">$ </div><div id="a34804" style="position:absolute;left:336.013px;top:455.7px;">97,602</div><div id="a34807" style="position:absolute;font-weight:normal;font-style:normal;left:383.533px;top:455.7px;">$ </div><div id="a34809" style="position:absolute;left:402.28px;top:455.7px;">424,448</div><div id="a34812" style="position:absolute;font-weight:normal;font-style:normal;left:456.52px;top:455.7px;">$ </div><div id="a34814" style="position:absolute;left:501px;top:455.7px;">(78,881)</div><div id="a34817" style="position:absolute;font-weight:normal;font-style:normal;left:553.48px;top:455.7px;">$ </div><div id="a34819" style="position:absolute;left:608.56px;top:455.7px;">1,454</div><div id="a34822" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:455.7px;">$ </div><div id="a34824" style="position:absolute;left:673.36px;top:455.7px;">457,961</div></div><div id="TextBlockContainer238" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:725px;height:31px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a34879" 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 and six months ended<div style="display:inline-block;width:5.02px"> </div>June 30, </div><div id="a34921" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">2020 and 2019:</div></div><div id="TextBlockContainer241" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:356px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a34934" style="position:absolute;font-weight:bold;font-style:normal;left:413.32px;top:0px;">Defined </div><div id="a34937" style="position:absolute;font-weight:bold;font-style:normal;left:491.4px;top:0px;">Unrealized </div><div id="a34949" style="position:absolute;font-weight:bold;font-style:normal;left:324.973px;top:17px;">Currency </div><div id="a34952" style="position:absolute;font-weight:bold;font-style:normal;left:415.08px;top:17px;">Benefit </div><div id="a34955" style="position:absolute;font-weight:bold;font-style:normal;left:482.28px;top:17px;">(Loss) Gain in<div style="display:inline-block;width:3.72px"> </div></div><div id="a34967" style="position:absolute;font-weight:bold;font-style:normal;left:319.053px;top:34.1px;">Translation </div><div id="a34970" style="position:absolute;font-weight:bold;font-style:normal;left:413.32px;top:34.1px;">Pension </div><div id="a34973" style="position:absolute;font-weight:bold;font-style:normal;left:482.6px;top:34.1px;">Available-for<div style="display:inline-block;width:1.37px"> </div>- </div><div id="a34979" style="position:absolute;font-weight:bold;font-style:normal;left:580.08px;top:34.1px;">Derivative </div><div id="a34988" style="position:absolute;font-weight:bold;font-style:normal;left:316.173px;top:51px;">Adjustments </div><div id="a34991" style="position:absolute;font-weight:bold;font-style:normal;left:419.88px;top:51px;">Plans </div><div id="a34993" style="position:absolute;font-weight:bold;font-style:normal;left:481.32px;top:51px;">Sale Securities </div><div id="a34995" style="position:absolute;font-weight:bold;font-style:normal;left:574.8px;top:51px;">Instruments </div><div id="a34998" style="position:absolute;font-weight:bold;font-style:normal;left:673.36px;top:51px;">Total </div><div id="a35000" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:68px;">Balance at March 31, 2020 </div><div id="a35003" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:68px;">$ </div><div id="a35005" style="position:absolute;left:344.973px;top:68px;">(99,187)</div><div id="a35008" style="position:absolute;font-weight:normal;font-style:normal;left:397.453px;top:68px;">$ </div><div id="a35010" style="position:absolute;left:428.04px;top:68px;">(17,576)</div><div id="a35013" style="position:absolute;font-weight:normal;font-style:normal;left:480.52px;top:68px;">$ </div><div id="a35015" style="position:absolute;left:535.72px;top:68px;">(460)</div><div id="a35018" style="position:absolute;font-weight:normal;font-style:normal;left:571.56px;top:68px;">$ </div><div id="a35020" style="position:absolute;left:608.88px;top:68px;">(4,301)</div><div id="a35023" style="position:absolute;font-weight:normal;font-style:normal;left:654.48px;top:68px;">$ </div><div id="a35025" style="position:absolute;left:670.48px;top:68px;">(121,524)</div><div id="a35028" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:85px;">Other comprehensive income (loss) before<div style="display:inline-block;width:4.37px"> </div></div><div id="a35047" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:102.1px;">reclassifications </div><div id="a35051" style="position:absolute;left:349.933px;top:102.1px;">10,550</div><div id="a35055" style="position:absolute;left:444.68px;top:102.1px;">(336)</div><div id="a35059" style="position:absolute;left:530.6px;top:102.1px;">2,128</div><div id="a35063" style="position:absolute;left:618.8px;top:102.1px;">(144)</div><div id="a35067" style="position:absolute;left:682px;top:102.1px;">12,198</div><div id="a35070" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:119px;">Amounts reclassified from AOCI </div><div id="a35074" style="position:absolute;left:373.293px;top:119px;">—</div><div id="a35078" style="position:absolute;left:449.64px;top:119px;">600</div><div id="a35082" style="position:absolute;left:542.44px;top:119px;">(93)</div><div id="a35086" style="position:absolute;left:630.48px;top:119px;">—</div><div id="a35090" style="position:absolute;left:698.64px;top:119px;">507</div><div id="a35093" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:136px;">Current period other comprehensive income (loss) </div><div id="a35097" style="position:absolute;left:349.933px;top:136px;">10,550</div><div id="a35101" style="position:absolute;left:449.64px;top:136px;">264</div><div id="a35105" style="position:absolute;left:530.6px;top:136px;">2,035</div><div id="a35109" style="position:absolute;left:618.8px;top:136px;">(144)</div><div id="a35113" style="position:absolute;left:682px;top:136px;">12,705</div><div id="a35116" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:153px;">Related tax amounts </div><div id="a35120" style="position:absolute;left:373.293px;top:153px;">—</div><div id="a35124" style="position:absolute;left:451.4px;top:153px;">(51)</div><div id="a35128" style="position:absolute;left:535.72px;top:153px;">(427)</div><div id="a35132" style="position:absolute;left:630.48px;top:153px;">33</div><div id="a35136" style="position:absolute;left:693.68px;top:153px;">(445)</div><div id="a35139" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:170.1px;">Net current period other comprehensive income (loss)<div style="display:inline-block;width:4.53px"> </div></div><div id="a35143" style="position:absolute;left:349.933px;top:170.1px;">10,550</div><div id="a35147" style="position:absolute;left:449.64px;top:170.1px;">213</div><div id="a35151" style="position:absolute;left:530.6px;top:170.1px;">1,608</div><div id="a35155" style="position:absolute;left:618.8px;top:170.1px;">(111)</div><div id="a35159" style="position:absolute;left:682px;top:170.1px;">12,260</div><div id="a35161" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:187.1px;">Balance at June 30, 2020 </div><div id="a35164" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:187.1px;">$ </div><div id="a35166" style="position:absolute;left:344.973px;top:187.1px;">(88,637)</div><div id="a35169" style="position:absolute;font-weight:normal;font-style:normal;left:397.453px;top:187.1px;">$ </div><div id="a35171" style="position:absolute;left:428.04px;top:187.1px;">(17,363)</div><div id="a35174" style="position:absolute;font-weight:normal;font-style:normal;left:480.52px;top:187.1px;">$ </div><div id="a35176" style="position:absolute;left:530.6px;top:187.1px;">1,148</div><div id="a35180" style="position:absolute;left:608.88px;top:187.1px;">(4,412)</div><div id="a35183" style="position:absolute;font-weight:normal;font-style:normal;left:654.48px;top:187.1px;">$ </div><div id="a35185" style="position:absolute;left:670.48px;top:187.1px;">(109,264)</div><div id="a35205" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:221px;">Balance at March 31, 2019 </div><div id="a35209" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:221px;">$ </div><div id="a35211" style="position:absolute;left:344.973px;top:221px;">(49,753)</div><div id="a35214" style="position:absolute;font-weight:normal;font-style:normal;left:397.453px;top:221px;">$ </div><div id="a35216" style="position:absolute;left:428.04px;top:221px;">(29,845)</div><div id="a35219" style="position:absolute;font-weight:normal;font-style:normal;left:480.52px;top:221px;">$ </div><div id="a35221" style="position:absolute;left:540.68px;top:221px;">431</div><div id="a35224" style="position:absolute;font-weight:normal;font-style:normal;left:571.56px;top:221px;">$ </div><div id="a35226" style="position:absolute;left:630.48px;top:221px;">—</div><div id="a35229" style="position:absolute;font-weight:normal;font-style:normal;left:654.48px;top:221px;">$ </div><div id="a35231" style="position:absolute;left:677.04px;top:221px;">(79,167)</div><div id="a35234" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:238.1px;">Other comprehensive (loss) income before </div><div id="a35253" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:255.1px;">reclassifications </div><div id="a35257" style="position:absolute;left:361.613px;top:255.1px;">(543)</div><div id="a35261" style="position:absolute;left:451.4px;top:255.1px;">(79)</div><div id="a35265" style="position:absolute;left:540.68px;top:255.1px;">432</div><div id="a35269" style="position:absolute;left:630.48px;top:255.1px;">—</div><div id="a35273" style="position:absolute;left:693.68px;top:255.1px;">(190)</div><div id="a35276" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:272px;">Amounts reclassified from AOCI </div><div id="a35280" style="position:absolute;left:373.293px;top:272px;">—</div><div id="a35284" style="position:absolute;left:449.64px;top:272px;">732</div><div id="a35288" style="position:absolute;left:542.44px;top:272px;">(43)</div><div id="a35292" style="position:absolute;left:630.48px;top:272px;">—</div><div id="a35296" style="position:absolute;left:698.64px;top:272px;">689</div><div id="a35299" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:289px;">Current period other comprehensive (loss) income </div><div id="a35303" style="position:absolute;left:361.613px;top:289px;">(543)</div><div id="a35307" style="position:absolute;left:449.64px;top:289px;">653</div><div id="a35311" style="position:absolute;left:540.68px;top:289px;">389</div><div id="a35315" style="position:absolute;left:630.48px;top:289px;">—</div><div id="a35319" style="position:absolute;left:698.64px;top:289px;">499</div><div id="a35322" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:306.1px;">Related tax amounts </div><div id="a35326" style="position:absolute;left:373.293px;top:306.1px;">—</div><div id="a35330" style="position:absolute;left:444.68px;top:306.1px;">(131)</div><div id="a35334" style="position:absolute;left:542.44px;top:306.1px;">(82)</div><div id="a35338" style="position:absolute;left:630.48px;top:306.1px;">—</div><div id="a35342" style="position:absolute;left:693.68px;top:306.1px;">(213)</div><div id="a35345" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:323.1px;">Net current period other comprehensive (loss) income </div><div id="a35349" style="position:absolute;left:361.613px;top:323.1px;">(543)</div><div id="a35353" style="position:absolute;left:449.64px;top:323.1px;">522</div><div id="a35357" style="position:absolute;left:540.68px;top:323.1px;">307</div><div id="a35361" style="position:absolute;left:630.48px;top:323.1px;">—</div><div id="a35365" style="position:absolute;left:698.64px;top:323.1px;">286</div><div id="a35367" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:340px;">Balance at June 30, 2019 </div><div id="a35370" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:340px;">$ </div><div id="a35372" style="position:absolute;left:344.973px;top:340px;">(50,296)</div><div id="a35375" style="position:absolute;font-weight:normal;font-style:normal;left:397.453px;top:340px;">$ </div><div id="a35377" style="position:absolute;left:428.04px;top:340px;">(29,323)</div><div id="a35380" style="position:absolute;font-weight:normal;font-style:normal;left:480.52px;top:340px;">$ </div><div id="a35382" style="position:absolute;left:540.68px;top:340px;">738</div><div id="a35385" style="position:absolute;font-weight:normal;font-style:normal;left:571.56px;top:340px;">$ </div><div id="a35387" style="position:absolute;left:630.48px;top:340px;">—</div><div id="a35390" style="position:absolute;font-weight:normal;font-style:normal;left:654.48px;top:340px;">$ </div><div id="a35392" style="position:absolute;left:677.04px;top:340px;">(78,881)</div></div><div id="TextBlockContainer246" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:356px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_244_XBRL_TS_2087db78dfea4c33ac7b0eb8bd670766" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer245" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:356px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a35401" style="position:absolute;font-weight:bold;font-style:normal;left:413.32px;top:0px;">Defined </div><div id="a35404" style="position:absolute;font-weight:bold;font-style:normal;left:491.4px;top:0px;">Unrealized </div><div id="a35415" style="position:absolute;font-weight:bold;font-style:normal;left:324.973px;top:17.1px;">Currency </div><div id="a35418" style="position:absolute;font-weight:bold;font-style:normal;left:415.08px;top:17.1px;">Benefit </div><div id="a35421" style="position:absolute;font-weight:bold;font-style:normal;left:482.28px;top:17.1px;">Gain (Loss) in<div style="display:inline-block;width:3.72px"> </div></div><div id="a35432" style="position:absolute;font-weight:bold;font-style:normal;left:319.053px;top:34.1px;">Translation </div><div id="a35435" style="position:absolute;font-weight:bold;font-style:normal;left:413.32px;top:34.1px;">Pension </div><div id="a35438" style="position:absolute;font-weight:bold;font-style:normal;left:482.6px;top:34.1px;">Available-for<div style="display:inline-block;width:1.37px"> </div>- </div><div id="a35444" style="position:absolute;font-weight:bold;font-style:normal;left:580.08px;top:34.1px;">Derivative </div><div id="a35453" style="position:absolute;font-weight:bold;font-style:normal;left:316.173px;top:51.1px;">Adjustments </div><div id="a35456" style="position:absolute;font-weight:bold;font-style:normal;left:419.88px;top:51.1px;">Plans </div><div id="a35458" style="position:absolute;font-weight:bold;font-style:normal;left:481.32px;top:51.1px;">Sale Securities </div><div id="a35460" style="position:absolute;font-weight:bold;font-style:normal;left:574.8px;top:51.1px;">Instruments </div><div id="a35463" style="position:absolute;font-weight:bold;font-style:normal;left:673.36px;top:51.1px;">Total </div><div id="a35465" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:68px;">Balance at December 31, 2019 </div><div id="a35468" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:68px;">$ </div><div id="a35470" style="position:absolute;left:344.973px;top:68px;">(44,568)</div><div id="a35473" style="position:absolute;font-weight:normal;font-style:normal;left:397.453px;top:68px;">$ </div><div id="a35475" style="position:absolute;left:428.04px;top:68px;">(34,533)</div><div id="a35478" style="position:absolute;font-weight:normal;font-style:normal;left:480.52px;top:68px;">$ </div><div id="a35480" style="position:absolute;left:530.6px;top:68px;">1,251</div><div id="a35483" style="position:absolute;font-weight:normal;font-style:normal;left:571.56px;top:68px;">$ </div><div id="a35485" style="position:absolute;left:618.8px;top:68px;">(320)</div><div id="a35488" style="position:absolute;font-weight:normal;font-style:normal;left:654.48px;top:68px;">$ </div><div id="a35490" style="position:absolute;left:677.04px;top:68px;">(78,170)</div><div id="a35493" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:85.1px;">Other comprehensive (loss) income before </div><div id="a35512" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:102.1px;">reclassifications </div><div id="a35516" style="position:absolute;left:344.973px;top:102.1px;">(44,069)</div><div id="a35520" style="position:absolute;left:449.64px;top:102.1px;">492</div><div id="a35524" style="position:absolute;left:549.16px;top:102.1px;">(8)</div><div id="a35528" style="position:absolute;left:608.88px;top:102.1px;">(5,315)</div><div id="a35532" style="position:absolute;left:677.04px;top:102.1px;">(48,900)</div><div id="a35535" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:119.1px;">Amounts reclassified from AOCI </div><div id="a35539" style="position:absolute;left:373.293px;top:119.1px;">—</div><div id="a35543" style="position:absolute;left:433px;top:119.1px;">24,966</div><div id="a35547" style="position:absolute;left:535.72px;top:119.1px;">(125)</div><div id="a35551" style="position:absolute;left:630.48px;top:119.1px;">—</div><div id="a35555" style="position:absolute;left:682px;top:119.1px;">24,841</div><div id="a35558" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:136px;">Current period other comprehensive (loss) income </div><div id="a35562" style="position:absolute;left:344.973px;top:136px;">(44,069)</div><div id="a35566" style="position:absolute;left:433px;top:136px;">25,458</div><div id="a35570" style="position:absolute;left:535.72px;top:136px;">(133)</div><div id="a35574" style="position:absolute;left:608.88px;top:136px;">(5,315)</div><div id="a35578" style="position:absolute;left:677.04px;top:136px;">(24,059)</div><div id="a35581" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:153.1px;">Related tax amounts </div><div id="a35585" style="position:absolute;left:373.293px;top:153.1px;">—</div><div id="a35589" style="position:absolute;left:434.76px;top:153.1px;">(8,288)</div><div id="a35593" style="position:absolute;left:547.4px;top:153.1px;">30</div><div id="a35597" style="position:absolute;left:613.68px;top:153.1px;">1,223</div><div id="a35601" style="position:absolute;left:683.76px;top:153.1px;">(7,035)</div><div id="a35604" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:170.1px;">Net current period other comprehensive (loss) income </div><div id="a35608" style="position:absolute;left:344.973px;top:170.1px;">(44,069)</div><div id="a35612" style="position:absolute;left:433px;top:170.1px;">17,170</div><div id="a35616" style="position:absolute;left:535.72px;top:170.1px;">(103)</div><div id="a35620" style="position:absolute;left:608.88px;top:170.1px;">(4,092)</div><div id="a35624" style="position:absolute;left:677.04px;top:170.1px;">(31,094)</div><div id="a35626" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:187.1px;">Balance at June 30, 2020 </div><div id="a35629" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:187.1px;">$ </div><div id="a35631" style="position:absolute;left:344.973px;top:187.1px;">(88,637)</div><div id="a35634" style="position:absolute;font-weight:normal;font-style:normal;left:397.453px;top:187.1px;">$ </div><div id="a35636" style="position:absolute;left:428.04px;top:187.1px;">(17,363)</div><div id="a35639" style="position:absolute;font-weight:normal;font-style:normal;left:480.52px;top:187.1px;">$ </div><div id="a35641" style="position:absolute;left:530.6px;top:187.1px;">1,148</div><div id="a35644" style="position:absolute;font-weight:normal;font-style:normal;left:571.56px;top:187.1px;">$ </div><div id="a35646" style="position:absolute;left:608.88px;top:187.1px;">(4,412)</div><div id="a35649" style="position:absolute;font-weight:normal;font-style:normal;left:654.48px;top:187.1px;">$ </div><div id="a35651" style="position:absolute;left:670.48px;top:187.1px;">(109,264)</div><div id="a35671" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:221.1px;">Balance at December 31, 2018 </div><div id="a35675" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:221.1px;">$ </div><div id="a35677" style="position:absolute;left:344.973px;top:221.1px;">(49,322)</div><div id="a35680" style="position:absolute;font-weight:normal;font-style:normal;left:397.453px;top:221.1px;">$ </div><div id="a35682" style="position:absolute;left:428.04px;top:221.1px;">(30,551)</div><div id="a35685" style="position:absolute;font-weight:normal;font-style:normal;left:480.52px;top:221.1px;">$ </div><div id="a35687" style="position:absolute;left:535.72px;top:221.1px;">(842)</div><div id="a35690" style="position:absolute;font-weight:normal;font-style:normal;left:571.56px;top:221.1px;">$ </div><div id="a35692" style="position:absolute;left:630.48px;top:221.1px;">—</div><div id="a35695" style="position:absolute;font-weight:normal;font-style:normal;left:654.48px;top:221.1px;">$ </div><div id="a35697" style="position:absolute;left:677.04px;top:221.1px;">(80,715)</div><div id="a35700" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:238.1px;">Other comprehensive (loss) income before<div style="display:inline-block;width:4.37px"> </div></div><div id="a35719" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:255.1px;">reclassifications </div><div id="a35723" style="position:absolute;left:361.613px;top:255.1px;">(974)</div><div id="a35727" style="position:absolute;left:456.36px;top:255.1px;">81</div><div id="a35731" style="position:absolute;left:530.6px;top:255.1px;">2,139</div><div id="a35735" style="position:absolute;left:630.48px;top:255.1px;">—</div><div id="a35739" style="position:absolute;left:688.56px;top:255.1px;">1,246</div><div id="a35742" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:272.1px;">Amounts reclassified from AOCI </div><div id="a35746" style="position:absolute;left:373.293px;top:272.1px;">—</div><div id="a35750" style="position:absolute;left:439.56px;top:272.1px;">1,465</div><div id="a35754" style="position:absolute;left:535.72px;top:272.1px;">(139)</div><div id="a35758" style="position:absolute;left:630.48px;top:272.1px;">—</div><div id="a35762" style="position:absolute;left:688.56px;top:272.1px;">1,326</div><div id="a35765" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:289.2px;">Current period other comprehensive (loss) income </div><div id="a35769" style="position:absolute;left:361.613px;top:289.2px;">(974)</div><div id="a35773" style="position:absolute;left:439.56px;top:289.2px;">1,546</div><div id="a35777" style="position:absolute;left:530.6px;top:289.2px;">2,000</div><div id="a35781" style="position:absolute;left:630.48px;top:289.2px;">—</div><div id="a35785" style="position:absolute;left:688.56px;top:289.2px;">2,572</div><div id="a35788" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:306.1px;">Related tax amounts </div><div id="a35792" style="position:absolute;left:373.293px;top:306.1px;">—</div><div id="a35796" style="position:absolute;left:444.68px;top:306.1px;">(318)</div><div id="a35800" style="position:absolute;left:535.72px;top:306.1px;">(420)</div><div id="a35804" style="position:absolute;left:630.48px;top:306.1px;">—</div><div id="a35808" style="position:absolute;left:693.68px;top:306.1px;">(738)</div><div id="a35811" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:323.1px;">Net current period other comprehensive (loss) income </div><div id="a35815" style="position:absolute;left:361.613px;top:323.1px;">(974)</div><div id="a35819" style="position:absolute;left:439.56px;top:323.1px;">1,228</div><div id="a35823" style="position:absolute;left:530.6px;top:323.1px;">1,580</div><div id="a35827" style="position:absolute;left:630.48px;top:323.1px;">—</div><div id="a35831" style="position:absolute;left:688.56px;top:323.1px;">1,834</div><div id="a35833" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:340.1px;">Balance at June 30, 2019 </div><div id="a35836" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:340.1px;">$ </div><div id="a35838" style="position:absolute;left:344.973px;top:340.1px;">(50,296)</div><div id="a35841" style="position:absolute;font-weight:normal;font-style:normal;left:397.453px;top:340.1px;">$ </div><div id="a35843" style="position:absolute;left:428.04px;top:340.1px;">(29,323)</div><div id="a35846" style="position:absolute;font-weight:normal;font-style:normal;left:480.52px;top:340.1px;">$ </div><div id="a35848" style="position:absolute;left:540.68px;top:340.1px;">738</div><div id="a35851" style="position:absolute;font-weight:normal;font-style:normal;left:571.56px;top:340.1px;">$ </div><div id="a35853" style="position:absolute;left:630.48px;top:340.1px;">—</div><div id="a35856" style="position:absolute;font-weight:normal;font-style:normal;left:654.48px;top:340.1px;">$ </div><div id="a35858" style="position:absolute;left:677.04px;top:340.1px;">(78,881)</div></div></div></div><div id="TextBlockContainer248" 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="a35860" 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="a35900" 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="a35938" 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="TextBlockContainer229" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:730px;height:352px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a33468" style="position:absolute;font-weight:bold;font-style:normal;left:463.72px;top:0px;">Accumulated </div><div id="a33482" style="position:absolute;font-weight:bold;font-style:normal;left:317.773px;top:14.9px;">Capital in </div><div id="a33488" style="position:absolute;font-weight:bold;font-style:normal;left:484.52px;top:14.9px;">Other </div><div id="a33499" style="position:absolute;font-weight:bold;font-style:normal;left:255.053px;top:29.9px;">Common </div><div id="a33502" style="position:absolute;font-weight:bold;font-style:normal;left:320.013px;top:29.9px;">Excess of </div><div id="a33505" style="position:absolute;font-weight:bold;font-style:normal;left:391.053px;top:29.9px;">Retained </div><div id="a33508" style="position:absolute;font-weight:bold;font-style:normal;left:457px;top:29.9px;">Comprehensive </div><div id="a33511" style="position:absolute;font-weight:bold;font-style:normal;left:555.08px;top:29.9px;">Noncontrolling </div><div id="a33519" style="position:absolute;font-weight:bold;font-style:normal;left:265.453px;top:45px;">Stock </div><div id="a33522" style="position:absolute;font-weight:bold;font-style:normal;left:317.293px;top:45px;">Par Value </div><div id="a33525" style="position:absolute;font-weight:bold;font-style:normal;left:390.573px;top:45px;">Earnings </div><div id="a33528" style="position:absolute;font-weight:bold;font-style:normal;left:488.52px;top:45px;">Loss </div><div id="a33531" style="position:absolute;font-weight:bold;font-style:normal;left:575.76px;top:45px;">Interest </div><div id="a33534" style="position:absolute;font-weight:bold;font-style:normal;left:669.84px;top:45px;">Total </div><div id="a33536" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:61.6px;">Balance at March 31, 2020 </div><div id="a33538" style="position:absolute;font-weight:normal;font-style:normal;left:254.413px;top:61.6px;">$ </div><div id="a33540" style="position:absolute;left:267.853px;top:61.6px;">17,752</div><div id="a33543" style="position:absolute;font-weight:normal;font-style:normal;left:315.533px;top:61.6px;">$ </div><div id="a33545" style="position:absolute;left:329.293px;top:61.6px;">888,533</div><div id="a33548" style="position:absolute;font-weight:normal;font-style:normal;left:383.533px;top:61.6px;">$ </div><div id="a33550" style="position:absolute;left:402.28px;top:61.6px;">376,853</div><div id="a33553" style="position:absolute;font-weight:normal;font-style:normal;left:456.52px;top:61.6px;">$ </div><div id="a33555" style="position:absolute;left:494.44px;top:61.6px;">(121,524)</div><div id="a33558" style="position:absolute;font-weight:normal;font-style:normal;left:553.48px;top:61.6px;">$ </div><div id="a33560" style="position:absolute;left:618.64px;top:61.6px;">418</div><div id="a33563" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:61.6px;">$ </div><div id="a33565" style="position:absolute;left:663.44px;top:61.6px;">1,162,032</div><div id="a33568" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:78.6px;">Net (loss) income </div><div id="a33571" style="position:absolute;left:291.213px;top:78.6px;">—</div><div id="a33575" style="position:absolute;left:359.373px;top:78.6px;">—</div><div id="a33579" style="position:absolute;left:410.76px;top:78.6px;">(7,735)</div><div id="a33583" style="position:absolute;left:529.32px;top:78.6px;">—</div><div id="a33587" style="position:absolute;left:625.36px;top:78.6px;">13</div><div id="a33591" style="position:absolute;left:681.84px;top:78.6px;">(7,722)</div><div id="a33594" 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="a33615" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:112.6px;">income </div><div id="a33618" style="position:absolute;left:291.213px;top:112.6px;">—</div><div id="a33622" style="position:absolute;left:359.373px;top:112.6px;">—</div><div id="a33626" style="position:absolute;left:432.36px;top:112.6px;">—</div><div id="a33630" style="position:absolute;left:505.96px;top:112.6px;">12,260</div><div id="a33634" style="position:absolute;left:631.92px;top:112.6px;">1</div><div id="a33638" style="position:absolute;left:680.08px;top:112.6px;">12,261</div><div id="a33641" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:129.6px;">Dividends ($</div><div id="a33641_12_5" style="position:absolute;left:83.786px;top:129.6px;">0.385</div><div id="a33641_17_12" style="position:absolute;font-weight:normal;font-style:normal;left:113.706px;top:129.6px;"><div style="display:inline-block;width:3.36px"> </div>per share) </div><div id="a33644" style="position:absolute;left:291.213px;top:129.6px;">—</div><div id="a33648" style="position:absolute;left:359.373px;top:129.6px;">—</div><div id="a33652" style="position:absolute;left:410.76px;top:129.6px;">(6,853)</div><div id="a33656" style="position:absolute;left:529.32px;top:129.6px;">—</div><div id="a33660" style="position:absolute;left:625.36px;top:129.6px;">—</div><div id="a33664" style="position:absolute;left:681.84px;top:129.6px;">(6,853)</div><div id="a33667" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:146.6px;">Share issuance and equity-based </div><div id="a33690" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:163.7px;">compensation plans </div><div id="a33693" style="position:absolute;left:291.213px;top:163.7px;">48</div><div id="a33697" style="position:absolute;left:342.573px;top:163.7px;">7,575</div><div id="a33701" style="position:absolute;left:432.36px;top:163.7px;">—</div><div id="a33705" style="position:absolute;left:529.32px;top:163.7px;">—</div><div id="a33709" style="position:absolute;left:625.36px;top:163.7px;">—</div><div id="a33713" style="position:absolute;left:686.64px;top:163.7px;">7,623</div><div id="a33715" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:181.6px;">Balance at June 30, 2020 </div><div id="a33717" style="position:absolute;font-weight:normal;font-style:normal;left:254.413px;top:181.6px;">$ </div><div id="a33719" style="position:absolute;left:267.853px;top:181.6px;">17,800</div><div id="a33722" style="position:absolute;font-weight:normal;font-style:normal;left:315.533px;top:181.6px;">$ </div><div id="a33724" style="position:absolute;left:329.293px;top:181.6px;">896,108</div><div id="a33727" style="position:absolute;font-weight:normal;font-style:normal;left:383.533px;top:181.6px;">$ </div><div id="a33729" style="position:absolute;left:402.28px;top:181.6px;">362,265</div><div id="a33732" style="position:absolute;font-weight:normal;font-style:normal;left:456.52px;top:181.6px;">$ </div><div id="a33734" style="position:absolute;left:494.44px;top:181.6px;">(109,264)</div><div id="a33737" style="position:absolute;font-weight:normal;font-style:normal;left:553.48px;top:181.6px;">$ </div><div id="a33739" style="position:absolute;left:618.64px;top:181.6px;">432</div><div id="a33742" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:181.6px;">$ </div><div id="a33744" style="position:absolute;left:663.44px;top:181.6px;">1,167,341</div><div id="a33766" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:216.7px;">Balance at March 31, 2019 </div><div id="a33768" style="position:absolute;font-weight:normal;font-style:normal;left:254.413px;top:216.7px;">$ </div><div id="a33770" style="position:absolute;left:267.853px;top:216.7px;">13,334</div><div id="a33773" style="position:absolute;font-weight:normal;font-style:normal;left:315.533px;top:216.7px;">$ </div><div id="a33775" style="position:absolute;left:336.013px;top:216.7px;">96,832</div><div id="a33778" style="position:absolute;font-weight:normal;font-style:normal;left:383.533px;top:216.7px;">$ </div><div id="a33780" style="position:absolute;left:402.28px;top:216.7px;">413,992</div><div id="a33783" style="position:absolute;font-weight:normal;font-style:normal;left:456.52px;top:216.7px;">$ </div><div id="a33785" style="position:absolute;left:501px;top:216.7px;">(79,167)</div><div id="a33788" style="position:absolute;font-weight:normal;font-style:normal;left:553.48px;top:216.7px;">$ </div><div id="a33790" style="position:absolute;left:608.56px;top:216.7px;">1,372</div><div id="a33793" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:216.7px;">$ </div><div id="a33795" style="position:absolute;left:673.36px;top:216.7px;">446,363</div><div id="a33798" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:233.6px;">Net income </div><div id="a33801" style="position:absolute;left:291.213px;top:233.6px;">—</div><div id="a33805" style="position:absolute;left:359.373px;top:233.6px;">—</div><div id="a33809" style="position:absolute;left:409px;top:233.6px;">15,591</div><div id="a33813" style="position:absolute;left:529.32px;top:233.6px;">—</div><div id="a33817" style="position:absolute;left:625.36px;top:233.6px;">58</div><div id="a33821" style="position:absolute;left:680.08px;top:233.6px;">15,649</div><div id="a33824" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:250.6px;">Amounts reported in other comprehensive<div style="display:inline-block;width:4.32px"> </div></div><div id="a33845" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:267.7px;">income </div><div id="a33848" style="position:absolute;left:291.213px;top:267.7px;">—</div><div id="a33852" style="position:absolute;left:359.373px;top:267.7px;">—</div><div id="a33856" style="position:absolute;left:432.36px;top:267.7px;">—</div><div id="a33860" style="position:absolute;left:522.6px;top:267.7px;">286</div><div id="a33864" style="position:absolute;left:625.36px;top:267.7px;">24</div><div id="a33868" style="position:absolute;left:696.72px;top:267.7px;">310</div><div id="a33871" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:284.7px;">Dividends ($</div><div id="a33871_12_5" style="position:absolute;left:83.786px;top:284.7px;">0.385</div><div id="a33871_17_12" style="position:absolute;font-weight:normal;font-style:normal;left:113.706px;top:284.7px;"><div style="display:inline-block;width:3.36px"> </div>per share) </div><div id="a33874" style="position:absolute;left:291.213px;top:284.7px;">—</div><div id="a33878" style="position:absolute;left:359.373px;top:284.7px;">—</div><div id="a33882" style="position:absolute;left:410.76px;top:284.7px;">(5,135)</div><div id="a33886" style="position:absolute;left:529.32px;top:284.7px;">—</div><div id="a33890" style="position:absolute;left:625.36px;top:284.7px;">—</div><div id="a33894" style="position:absolute;left:681.84px;top:284.7px;">(5,135)</div><div id="a33897" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:301.6px;">Share issuance and equity-based </div><div id="a33920" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:318.6px;">compensation plans </div><div id="a33923" style="position:absolute;left:297.773px;top:318.6px;">4</div><div id="a33927" style="position:absolute;left:352.653px;top:318.6px;">770</div><div id="a33931" style="position:absolute;left:432.36px;top:318.6px;">—</div><div id="a33935" style="position:absolute;left:529.32px;top:318.6px;">—</div><div id="a33939" style="position:absolute;left:625.36px;top:318.6px;">—</div><div id="a33943" style="position:absolute;left:696.72px;top:318.6px;">774</div><div id="a33945" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:336.7px;">Balance at June 30, 2019 </div><div id="a33947" style="position:absolute;font-weight:normal;font-style:normal;left:254.413px;top:336.7px;">$ </div><div id="a33949" style="position:absolute;left:267.853px;top:336.7px;">13,338</div><div id="a33952" style="position:absolute;font-weight:normal;font-style:normal;left:315.533px;top:335.7px;">$ </div><div id="a33954" style="position:absolute;left:336.013px;top:336.7px;">97,602</div><div id="a33957" style="position:absolute;font-weight:normal;font-style:normal;left:383.533px;top:336.7px;">$ </div><div id="a33959" style="position:absolute;left:402.28px;top:336.7px;">424,448</div><div id="a33962" style="position:absolute;font-weight:normal;font-style:normal;left:456.52px;top:336.7px;">$ </div><div id="a33964" style="position:absolute;left:501px;top:336.7px;">(78,881)</div><div id="a33967" style="position:absolute;font-weight:normal;font-style:normal;left:553.48px;top:336.7px;">$ </div><div id="a33969" style="position:absolute;left:608.56px;top:336.7px;">1,454</div><div id="a33972" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:336.7px;">$ </div><div id="a33974" style="position:absolute;left:673.36px;top:336.7px;">457,961</div></div><div id="TextBlockContainer236" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:730px;height:472px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_234_XBRL_TS_3181580e616744a6bfc9c398aebcaeae" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer235" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:730px;height:472px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a34143" style="position:absolute;font-weight:bold;font-style:normal;left:463.72px;top:0px;">Accumulated </div><div id="a34157" style="position:absolute;font-weight:bold;font-style:normal;left:317.773px;top:15px;">Capital in </div><div id="a34163" style="position:absolute;font-weight:bold;font-style:normal;left:484.52px;top:15px;">Other </div><div id="a34174" style="position:absolute;font-weight:bold;font-style:normal;left:255.053px;top:29.9px;">Common </div><div id="a34177" style="position:absolute;font-weight:bold;font-style:normal;left:320.013px;top:29.9px;">Excess of </div><div id="a34180" style="position:absolute;font-weight:bold;font-style:normal;left:391.053px;top:29.9px;">Retained </div><div id="a34183" style="position:absolute;font-weight:bold;font-style:normal;left:457px;top:29.9px;">Comprehensive </div><div id="a34186" style="position:absolute;font-weight:bold;font-style:normal;left:555.08px;top:29.9px;">Noncontrolling </div><div id="a34194" style="position:absolute;font-weight:bold;font-style:normal;left:265.453px;top:45px;">Stock </div><div id="a34197" style="position:absolute;font-weight:bold;font-style:normal;left:317.293px;top:45px;">Par Value </div><div id="a34200" style="position:absolute;font-weight:bold;font-style:normal;left:390.573px;top:45px;">Earnings </div><div id="a34203" style="position:absolute;font-weight:bold;font-style:normal;left:488.52px;top:45px;">Loss </div><div id="a34206" style="position:absolute;font-weight:bold;font-style:normal;left:575.76px;top:45px;">Interest </div><div id="a34209" style="position:absolute;font-weight:bold;font-style:normal;left:669.84px;top:45px;">Total </div><div id="a34211" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:61.6px;">Balance at December 31, 2019 </div><div id="a34213" style="position:absolute;font-weight:normal;font-style:normal;left:254.413px;top:61.6px;">$ </div><div id="a34215" style="position:absolute;left:267.853px;top:61.6px;">17,735</div><div id="a34218" style="position:absolute;font-weight:normal;font-style:normal;left:315.533px;top:61.6px;">$ </div><div id="a34220" style="position:absolute;left:329.293px;top:61.6px;">888,218</div><div id="a34223" style="position:absolute;font-weight:normal;font-style:normal;left:383.533px;top:61.6px;">$ </div><div id="a34225" style="position:absolute;left:402.28px;top:61.6px;">412,979</div><div id="a34228" style="position:absolute;font-weight:normal;font-style:normal;left:456.52px;top:61.6px;">$ </div><div id="a34230" style="position:absolute;left:501px;top:61.6px;">(78,170)</div><div id="a34233" style="position:absolute;font-weight:normal;font-style:normal;left:553.48px;top:61.6px;">$ </div><div id="a34235" style="position:absolute;left:608.56px;top:61.6px;">1,604</div><div id="a34238" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:61.6px;">$ </div><div id="a34240" style="position:absolute;left:663.44px;top:61.6px;">1,242,366</div><div id="a34243" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:78.7px;">Cumulative effect of an accounting change </div><div id="a34246" style="position:absolute;left:291.213px;top:78.7px;">—</div><div id="a34250" style="position:absolute;left:359.373px;top:78.7px;">—</div><div id="a34254" style="position:absolute;left:420.68px;top:78.7px;">(911)</div><div id="a34258" style="position:absolute;left:529.32px;top:78.7px;">—</div><div id="a34262" style="position:absolute;left:625.36px;top:78.7px;">—</div><div id="a34266" style="position:absolute;left:691.76px;top:78.7px;">(911)</div><div id="a34268" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:95.7px;">Balance at January 1, 2020 </div><div id="a34271" style="position:absolute;left:267.853px;top:95.7px;">17,735</div><div id="a34275" style="position:absolute;left:329.293px;top:95.7px;">888,218</div><div id="a34279" style="position:absolute;left:402.28px;top:95.7px;">412,068</div><div id="a34283" style="position:absolute;left:501px;top:95.7px;">(78,170)</div><div id="a34287" style="position:absolute;left:608.56px;top:95.7px;">1,604</div><div id="a34291" style="position:absolute;left:663.44px;top:95.7px;">1,241,455</div><div id="a34294" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:112.6px;">Net (loss) income </div><div id="a34297" style="position:absolute;left:291.213px;top:112.6px;">—</div><div id="a34301" style="position:absolute;left:359.373px;top:112.6px;">—</div><div id="a34305" style="position:absolute;left:404.04px;top:112.6px;">(36,116)</div><div id="a34309" style="position:absolute;left:529.32px;top:112.6px;">—</div><div id="a34313" style="position:absolute;left:625.36px;top:112.6px;">50</div><div id="a34317" style="position:absolute;left:675.12px;top:112.6px;">(36,066)</div><div id="a34320" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:129.6px;">Amounts reported in other comprehensive<div style="display:inline-block;width:4.32px"> </div></div><div id="a34341" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:146.7px;">loss </div><div id="a34344" style="position:absolute;left:291.213px;top:146.7px;">—</div><div id="a34348" style="position:absolute;left:359.373px;top:146.7px;">—</div><div id="a34352" style="position:absolute;left:432.36px;top:146.7px;">—</div><div id="a34356" style="position:absolute;left:501px;top:146.7px;">(31,094)</div><div id="a34360" style="position:absolute;left:613.68px;top:146.7px;">(131)</div><div id="a34364" style="position:absolute;left:675.12px;top:146.7px;">(31,225)</div><div id="a34367" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:163.7px;">Dividends ($</div><div id="a34367_12_5" style="position:absolute;left:83.786px;top:163.7px;">0.770</div><div id="a34367_17_12" style="position:absolute;font-weight:normal;font-style:normal;left:113.706px;top:163.7px;"><div style="display:inline-block;width:3.36px"> </div>per share) </div><div id="a34370" style="position:absolute;left:291.213px;top:163.7px;">—</div><div id="a34374" style="position:absolute;left:359.373px;top:163.7px;">—</div><div id="a34378" style="position:absolute;left:404.04px;top:163.7px;">(13,687)</div><div id="a34382" style="position:absolute;left:529.32px;top:163.7px;">—</div><div id="a34386" style="position:absolute;left:625.36px;top:163.7px;">—</div><div id="a34390" style="position:absolute;left:675.12px;top:163.7px;">(13,687)</div><div id="a34393" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:180.6px;">Acquisition of noncontrolling interest </div><div id="a34396" style="position:absolute;left:291.213px;top:180.6px;">—</div><div id="a34400" style="position:absolute;left:347.693px;top:180.6px;">(707)</div><div id="a34404" style="position:absolute;left:432.36px;top:180.6px;">—</div><div id="a34408" style="position:absolute;left:529.32px;top:180.6px;">—</div><div id="a34412" style="position:absolute;left:613.68px;top:180.6px;">(340)</div><div id="a34416" style="position:absolute;left:681.84px;top:180.6px;">(1,047)</div><div id="a34419" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:197.6px;">Distribution to noncontrolling interest </div><div id="a34440" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:214.8px;">affiliate shareholders </div><div id="a34443" style="position:absolute;left:291.213px;top:214.8px;">—</div><div id="a34447" style="position:absolute;left:359.373px;top:214.8px;">—</div><div id="a34451" style="position:absolute;left:432.36px;top:214.8px;">—</div><div id="a34455" style="position:absolute;left:529.32px;top:214.8px;">—</div><div id="a34459" style="position:absolute;left:613.68px;top:214.8px;">(751)</div><div id="a34463" style="position:absolute;left:691.76px;top:214.8px;">(751)</div><div id="a34466" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:231.7px;">Share issuance and equity-based </div><div id="a34489" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:248.7px;">compensation plans </div><div id="a34492" style="position:absolute;left:291.213px;top:248.7px;">65</div><div id="a34496" style="position:absolute;left:342.573px;top:248.7px;">8,597</div><div id="a34500" style="position:absolute;left:432.36px;top:248.7px;">—</div><div id="a34504" style="position:absolute;left:529.32px;top:248.7px;">—</div><div id="a34508" style="position:absolute;left:625.36px;top:248.7px;">—</div><div id="a34512" style="position:absolute;left:686.64px;top:248.7px;">8,662</div><div id="a34514" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:266.8px;">Balance at June 30, 2020 </div><div id="a34516" style="position:absolute;font-weight:normal;font-style:normal;left:254.413px;top:266.8px;">$ </div><div id="a34518" style="position:absolute;left:267.853px;top:266.8px;">17,800</div><div id="a34521" style="position:absolute;font-weight:normal;font-style:normal;left:315.533px;top:266.8px;">$ </div><div id="a34523" style="position:absolute;left:329.293px;top:266.8px;">896,108</div><div id="a34526" style="position:absolute;font-weight:normal;font-style:normal;left:383.533px;top:266.8px;">$ </div><div id="a34528" style="position:absolute;left:402.28px;top:266.8px;">362,265</div><div id="a34531" style="position:absolute;font-weight:normal;font-style:normal;left:456.52px;top:266.8px;">$ </div><div id="a34533" style="position:absolute;left:494.44px;top:266.8px;">(109,264)</div><div id="a34536" style="position:absolute;font-weight:normal;font-style:normal;left:553.48px;top:266.8px;">$ </div><div id="a34538" style="position:absolute;left:618.64px;top:266.8px;">432</div><div id="a34541" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:266.8px;">$ </div><div id="a34543" style="position:absolute;left:663.44px;top:266.8px;">1,167,341</div><div id="a34565" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:301.6px;">Balance at December 31, 2018 </div><div id="a34567" style="position:absolute;font-weight:normal;font-style:normal;left:254.413px;top:301.6px;">$ </div><div id="a34569" style="position:absolute;left:267.853px;top:301.6px;">13,338</div><div id="a34572" style="position:absolute;font-weight:normal;font-style:normal;left:315.533px;top:301.6px;">$ </div><div id="a34574" style="position:absolute;left:336.013px;top:301.6px;">97,304</div><div id="a34577" style="position:absolute;font-weight:normal;font-style:normal;left:383.533px;top:301.6px;">$ </div><div id="a34579" style="position:absolute;left:402.28px;top:301.6px;">405,125</div><div id="a34582" style="position:absolute;font-weight:normal;font-style:normal;left:456.52px;top:301.6px;">$ </div><div id="a34584" style="position:absolute;left:501px;top:301.6px;">(80,715)</div><div id="a34587" style="position:absolute;font-weight:normal;font-style:normal;left:553.48px;top:301.6px;">$ </div><div id="a34589" style="position:absolute;left:608.56px;top:301.6px;">1,317</div><div id="a34592" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:301.6px;">$ </div><div id="a34594" style="position:absolute;left:673.36px;top:301.6px;">436,369</div><div id="a34597" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:318.8px;">Cumulative effect of an accounting change </div><div id="a34600" style="position:absolute;left:291.213px;top:318.8px;">—</div><div id="a34604" style="position:absolute;left:359.373px;top:318.8px;">—</div><div id="a34608" style="position:absolute;left:427.4px;top:318.8px;">(44)</div><div id="a34612" style="position:absolute;left:529.32px;top:318.8px;">—</div><div id="a34616" style="position:absolute;left:625.36px;top:318.8px;">—</div><div id="a34620" style="position:absolute;left:698.48px;top:318.8px;">(44)</div><div id="a34622" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:335.7px;">Balance at January 1, 2019 </div><div id="a34625" style="position:absolute;left:267.853px;top:335.7px;">13,338</div><div id="a34629" style="position:absolute;left:336.013px;top:335.7px;">97,304</div><div id="a34633" style="position:absolute;left:402.28px;top:335.7px;">405,081</div><div id="a34637" style="position:absolute;left:501px;top:335.7px;">(80,715)</div><div id="a34641" style="position:absolute;left:608.56px;top:335.7px;">1,317</div><div id="a34645" style="position:absolute;left:673.36px;top:335.7px;">436,325</div><div id="a34648" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:352.7px;">Net income </div><div id="a34651" style="position:absolute;left:291.213px;top:352.7px;">—</div><div id="a34655" style="position:absolute;left:359.373px;top:352.7px;">—</div><div id="a34659" style="position:absolute;left:409px;top:352.7px;">29,435</div><div id="a34663" style="position:absolute;left:529.32px;top:352.7px;">—</div><div id="a34667" style="position:absolute;left:618.64px;top:352.7px;">114</div><div id="a34671" style="position:absolute;left:680.08px;top:352.7px;">29,549</div><div id="a34674" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:369.6px;">Amounts reported in other comprehensive<div style="display:inline-block;width:4.32px"> </div></div><div id="a34695" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:386.8px;">income </div><div id="a34698" style="position:absolute;left:291.213px;top:386.8px;">—</div><div id="a34702" style="position:absolute;left:359.373px;top:386.8px;">—</div><div id="a34706" style="position:absolute;left:432.36px;top:386.8px;">—</div><div id="a34710" style="position:absolute;left:512.52px;top:386.8px;">1,834</div><div id="a34714" style="position:absolute;left:625.36px;top:386.8px;">23</div><div id="a34718" style="position:absolute;left:686.64px;top:386.8px;">1,857</div><div id="a34721" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:403.7px;">Dividends ($</div><div id="a34721_12_5" style="position:absolute;left:83.786px;top:403.7px;">0.755</div><div id="a34721_17_12" style="position:absolute;font-weight:normal;font-style:normal;left:113.706px;top:403.7px;"><div style="display:inline-block;width:3.36px"> </div>per share) </div><div id="a34724" style="position:absolute;left:291.213px;top:403.7px;">—</div><div id="a34728" style="position:absolute;left:359.373px;top:403.7px;">—</div><div id="a34732" style="position:absolute;left:404.04px;top:403.7px;">(10,068)</div><div id="a34736" style="position:absolute;left:529.32px;top:403.7px;">—</div><div id="a34740" style="position:absolute;left:625.36px;top:403.7px;">—</div><div id="a34744" style="position:absolute;left:675.12px;top:403.7px;">(10,068)</div><div id="a34747" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:420.7px;">Share issuance and equity-based </div><div id="a34770" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:437.6px;">compensation plans </div><div id="a34773" style="position:absolute;left:291.213px;top:437.6px;">—</div><div id="a34777" style="position:absolute;left:352.653px;top:437.6px;">298</div><div id="a34781" style="position:absolute;left:432.36px;top:437.6px;">—</div><div id="a34785" style="position:absolute;left:529.32px;top:437.6px;">—</div><div id="a34789" style="position:absolute;left:625.36px;top:437.6px;">—</div><div id="a34793" style="position:absolute;left:696.72px;top:437.6px;">298</div><div id="a34795" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:455.7px;">Balance at June 30, 2019 </div><div id="a34797" style="position:absolute;font-weight:normal;font-style:normal;left:254.413px;top:455.7px;">$ </div><div id="a34799" style="position:absolute;left:267.853px;top:455.7px;">13,338</div><div id="a34802" style="position:absolute;font-weight:normal;font-style:normal;left:315.533px;top:455.7px;">$ </div><div id="a34804" style="position:absolute;left:336.013px;top:455.7px;">97,602</div><div id="a34807" style="position:absolute;font-weight:normal;font-style:normal;left:383.533px;top:455.7px;">$ </div><div id="a34809" style="position:absolute;left:402.28px;top:455.7px;">424,448</div><div id="a34812" style="position:absolute;font-weight:normal;font-style:normal;left:456.52px;top:455.7px;">$ </div><div id="a34814" style="position:absolute;left:501px;top:455.7px;">(78,881)</div><div id="a34817" style="position:absolute;font-weight:normal;font-style:normal;left:553.48px;top:455.7px;">$ </div><div id="a34819" style="position:absolute;left:608.56px;top:455.7px;">1,454</div><div id="a34822" style="position:absolute;font-weight:normal;font-style:normal;left:649.52px;top:455.7px;">$ </div><div id="a34824" style="position:absolute;left:673.36px;top:455.7px;">457,961</div></div></div></div>

17752000

888533000

376853000

-121524000

418000

1162032000

-7735000

13000

-7722000

12260000

1000

12261000

0.385

6853000

48000 7575000 0 0 0 7623000

17800000

896108000

362265000

-109264000

432000

1167341000

13334000

96832000

413992000

-79167000

1372000

446363000

15591000

58000

15649000

286000

24000

310000

0.385

5135000

4000 770000 0 0 0 774000

13338000

97602000

424448000

-78881000

1454000

457961000

17735000

888218000

412979000

-78170000

1604000

1242366000

-911000

17735000

888218000

412068000

-78170000

1604000

1241455000

-36116000

50000

-36066000

-31094000

-131000

-31225000

0.770

13687000

707000

340000

1047000

751000

65000 8597000 0 0 0 8662000

17800000

896108000

362265000

-109264000

432000

1167341000

13338000

97304000

405125000

-80715000

1317000

436369000

-44000

13338000

97304000

405081000

-80715000

1317000

436325000

29435000

114000

29549000

1834000

23000

1857000

0.755

10068000

0 298000 0 0 0 298000

13338000

97602000

424448000

-78881000

1454000

457961000

<div id="TextBlockContainer242" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:356px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_240_XBRL_TS_505debe442ea4bc9b875682f085f413f" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer241" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:356px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a34934" style="position:absolute;font-weight:bold;font-style:normal;left:413.32px;top:0px;">Defined </div><div id="a34937" style="position:absolute;font-weight:bold;font-style:normal;left:491.4px;top:0px;">Unrealized </div><div id="a34949" style="position:absolute;font-weight:bold;font-style:normal;left:324.973px;top:17px;">Currency </div><div id="a34952" style="position:absolute;font-weight:bold;font-style:normal;left:415.08px;top:17px;">Benefit </div><div id="a34955" style="position:absolute;font-weight:bold;font-style:normal;left:482.28px;top:17px;">(Loss) Gain in<div style="display:inline-block;width:3.72px"> </div></div><div id="a34967" style="position:absolute;font-weight:bold;font-style:normal;left:319.053px;top:34.1px;">Translation </div><div id="a34970" style="position:absolute;font-weight:bold;font-style:normal;left:413.32px;top:34.1px;">Pension </div><div id="a34973" style="position:absolute;font-weight:bold;font-style:normal;left:482.6px;top:34.1px;">Available-for<div style="display:inline-block;width:1.37px"> </div>- </div><div id="a34979" style="position:absolute;font-weight:bold;font-style:normal;left:580.08px;top:34.1px;">Derivative </div><div id="a34988" style="position:absolute;font-weight:bold;font-style:normal;left:316.173px;top:51px;">Adjustments </div><div id="a34991" style="position:absolute;font-weight:bold;font-style:normal;left:419.88px;top:51px;">Plans </div><div id="a34993" style="position:absolute;font-weight:bold;font-style:normal;left:481.32px;top:51px;">Sale Securities </div><div id="a34995" style="position:absolute;font-weight:bold;font-style:normal;left:574.8px;top:51px;">Instruments </div><div id="a34998" style="position:absolute;font-weight:bold;font-style:normal;left:673.36px;top:51px;">Total </div><div id="a35000" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:68px;">Balance at March 31, 2020 </div><div id="a35003" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:68px;">$ </div><div id="a35005" style="position:absolute;left:344.973px;top:68px;">(99,187)</div><div id="a35008" style="position:absolute;font-weight:normal;font-style:normal;left:397.453px;top:68px;">$ </div><div id="a35010" style="position:absolute;left:428.04px;top:68px;">(17,576)</div><div id="a35013" style="position:absolute;font-weight:normal;font-style:normal;left:480.52px;top:68px;">$ </div><div id="a35015" style="position:absolute;left:535.72px;top:68px;">(460)</div><div id="a35018" style="position:absolute;font-weight:normal;font-style:normal;left:571.56px;top:68px;">$ </div><div id="a35020" style="position:absolute;left:608.88px;top:68px;">(4,301)</div><div id="a35023" style="position:absolute;font-weight:normal;font-style:normal;left:654.48px;top:68px;">$ </div><div id="a35025" style="position:absolute;left:670.48px;top:68px;">(121,524)</div><div id="a35028" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:85px;">Other comprehensive income (loss) before<div style="display:inline-block;width:4.37px"> </div></div><div id="a35047" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:102.1px;">reclassifications </div><div id="a35051" style="position:absolute;left:349.933px;top:102.1px;">10,550</div><div id="a35055" style="position:absolute;left:444.68px;top:102.1px;">(336)</div><div id="a35059" style="position:absolute;left:530.6px;top:102.1px;">2,128</div><div id="a35063" style="position:absolute;left:618.8px;top:102.1px;">(144)</div><div id="a35067" style="position:absolute;left:682px;top:102.1px;">12,198</div><div id="a35070" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:119px;">Amounts reclassified from AOCI </div><div id="a35074" style="position:absolute;left:373.293px;top:119px;">—</div><div id="a35078" style="position:absolute;left:449.64px;top:119px;">600</div><div id="a35082" style="position:absolute;left:542.44px;top:119px;">(93)</div><div id="a35086" style="position:absolute;left:630.48px;top:119px;">—</div><div id="a35090" style="position:absolute;left:698.64px;top:119px;">507</div><div id="a35093" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:136px;">Current period other comprehensive income (loss) </div><div id="a35097" style="position:absolute;left:349.933px;top:136px;">10,550</div><div id="a35101" style="position:absolute;left:449.64px;top:136px;">264</div><div id="a35105" style="position:absolute;left:530.6px;top:136px;">2,035</div><div id="a35109" style="position:absolute;left:618.8px;top:136px;">(144)</div><div id="a35113" style="position:absolute;left:682px;top:136px;">12,705</div><div id="a35116" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:153px;">Related tax amounts </div><div id="a35120" style="position:absolute;left:373.293px;top:153px;">—</div><div id="a35124" style="position:absolute;left:451.4px;top:153px;">(51)</div><div id="a35128" style="position:absolute;left:535.72px;top:153px;">(427)</div><div id="a35132" style="position:absolute;left:630.48px;top:153px;">33</div><div id="a35136" style="position:absolute;left:693.68px;top:153px;">(445)</div><div id="a35139" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:170.1px;">Net current period other comprehensive income (loss)<div style="display:inline-block;width:4.53px"> </div></div><div id="a35143" style="position:absolute;left:349.933px;top:170.1px;">10,550</div><div id="a35147" style="position:absolute;left:449.64px;top:170.1px;">213</div><div id="a35151" style="position:absolute;left:530.6px;top:170.1px;">1,608</div><div id="a35155" style="position:absolute;left:618.8px;top:170.1px;">(111)</div><div id="a35159" style="position:absolute;left:682px;top:170.1px;">12,260</div><div id="a35161" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:187.1px;">Balance at June 30, 2020 </div><div id="a35164" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:187.1px;">$ </div><div id="a35166" style="position:absolute;left:344.973px;top:187.1px;">(88,637)</div><div id="a35169" style="position:absolute;font-weight:normal;font-style:normal;left:397.453px;top:187.1px;">$ </div><div id="a35171" style="position:absolute;left:428.04px;top:187.1px;">(17,363)</div><div id="a35174" style="position:absolute;font-weight:normal;font-style:normal;left:480.52px;top:187.1px;">$ </div><div id="a35176" style="position:absolute;left:530.6px;top:187.1px;">1,148</div><div id="a35180" style="position:absolute;left:608.88px;top:187.1px;">(4,412)</div><div id="a35183" style="position:absolute;font-weight:normal;font-style:normal;left:654.48px;top:187.1px;">$ </div><div id="a35185" style="position:absolute;left:670.48px;top:187.1px;">(109,264)</div><div id="a35205" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:221px;">Balance at March 31, 2019 </div><div id="a35209" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:221px;">$ </div><div id="a35211" style="position:absolute;left:344.973px;top:221px;">(49,753)</div><div id="a35214" style="position:absolute;font-weight:normal;font-style:normal;left:397.453px;top:221px;">$ </div><div id="a35216" style="position:absolute;left:428.04px;top:221px;">(29,845)</div><div id="a35219" style="position:absolute;font-weight:normal;font-style:normal;left:480.52px;top:221px;">$ </div><div id="a35221" style="position:absolute;left:540.68px;top:221px;">431</div><div id="a35224" style="position:absolute;font-weight:normal;font-style:normal;left:571.56px;top:221px;">$ </div><div id="a35226" style="position:absolute;left:630.48px;top:221px;">—</div><div id="a35229" style="position:absolute;font-weight:normal;font-style:normal;left:654.48px;top:221px;">$ </div><div id="a35231" style="position:absolute;left:677.04px;top:221px;">(79,167)</div><div id="a35234" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:238.1px;">Other comprehensive (loss) income before </div><div id="a35253" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:255.1px;">reclassifications </div><div id="a35257" style="position:absolute;left:361.613px;top:255.1px;">(543)</div><div id="a35261" style="position:absolute;left:451.4px;top:255.1px;">(79)</div><div id="a35265" style="position:absolute;left:540.68px;top:255.1px;">432</div><div id="a35269" style="position:absolute;left:630.48px;top:255.1px;">—</div><div id="a35273" style="position:absolute;left:693.68px;top:255.1px;">(190)</div><div id="a35276" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:272px;">Amounts reclassified from AOCI </div><div id="a35280" style="position:absolute;left:373.293px;top:272px;">—</div><div id="a35284" style="position:absolute;left:449.64px;top:272px;">732</div><div id="a35288" style="position:absolute;left:542.44px;top:272px;">(43)</div><div id="a35292" style="position:absolute;left:630.48px;top:272px;">—</div><div id="a35296" style="position:absolute;left:698.64px;top:272px;">689</div><div id="a35299" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:289px;">Current period other comprehensive (loss) income </div><div id="a35303" style="position:absolute;left:361.613px;top:289px;">(543)</div><div id="a35307" style="position:absolute;left:449.64px;top:289px;">653</div><div id="a35311" style="position:absolute;left:540.68px;top:289px;">389</div><div id="a35315" style="position:absolute;left:630.48px;top:289px;">—</div><div id="a35319" style="position:absolute;left:698.64px;top:289px;">499</div><div id="a35322" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:306.1px;">Related tax amounts </div><div id="a35326" style="position:absolute;left:373.293px;top:306.1px;">—</div><div id="a35330" style="position:absolute;left:444.68px;top:306.1px;">(131)</div><div id="a35334" style="position:absolute;left:542.44px;top:306.1px;">(82)</div><div id="a35338" style="position:absolute;left:630.48px;top:306.1px;">—</div><div id="a35342" style="position:absolute;left:693.68px;top:306.1px;">(213)</div><div id="a35345" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:323.1px;">Net current period other comprehensive (loss) income </div><div id="a35349" style="position:absolute;left:361.613px;top:323.1px;">(543)</div><div id="a35353" style="position:absolute;left:449.64px;top:323.1px;">522</div><div id="a35357" style="position:absolute;left:540.68px;top:323.1px;">307</div><div id="a35361" style="position:absolute;left:630.48px;top:323.1px;">—</div><div id="a35365" style="position:absolute;left:698.64px;top:323.1px;">286</div><div id="a35367" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:340px;">Balance at June 30, 2019 </div><div id="a35370" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:340px;">$ </div><div id="a35372" style="position:absolute;left:344.973px;top:340px;">(50,296)</div><div id="a35375" style="position:absolute;font-weight:normal;font-style:normal;left:397.453px;top:340px;">$ </div><div id="a35377" style="position:absolute;left:428.04px;top:340px;">(29,323)</div><div id="a35380" style="position:absolute;font-weight:normal;font-style:normal;left:480.52px;top:340px;">$ </div><div id="a35382" style="position:absolute;left:540.68px;top:340px;">738</div><div id="a35385" style="position:absolute;font-weight:normal;font-style:normal;left:571.56px;top:340px;">$ </div><div id="a35387" style="position:absolute;left:630.48px;top:340px;">—</div><div id="a35390" style="position:absolute;font-weight:normal;font-style:normal;left:654.48px;top:340px;">$ </div><div id="a35392" style="position:absolute;left:677.04px;top:340px;">(78,881)</div></div></div></div><div id="TextBlockContainer245" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:356px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a35401" style="position:absolute;font-weight:bold;font-style:normal;left:413.32px;top:0px;">Defined </div><div id="a35404" style="position:absolute;font-weight:bold;font-style:normal;left:491.4px;top:0px;">Unrealized </div><div id="a35415" style="position:absolute;font-weight:bold;font-style:normal;left:324.973px;top:17.1px;">Currency </div><div id="a35418" style="position:absolute;font-weight:bold;font-style:normal;left:415.08px;top:17.1px;">Benefit </div><div id="a35421" style="position:absolute;font-weight:bold;font-style:normal;left:482.28px;top:17.1px;">Gain (Loss) in<div style="display:inline-block;width:3.72px"> </div></div><div id="a35432" style="position:absolute;font-weight:bold;font-style:normal;left:319.053px;top:34.1px;">Translation </div><div id="a35435" style="position:absolute;font-weight:bold;font-style:normal;left:413.32px;top:34.1px;">Pension </div><div id="a35438" style="position:absolute;font-weight:bold;font-style:normal;left:482.6px;top:34.1px;">Available-for<div style="display:inline-block;width:1.37px"> </div>- </div><div id="a35444" style="position:absolute;font-weight:bold;font-style:normal;left:580.08px;top:34.1px;">Derivative </div><div id="a35453" style="position:absolute;font-weight:bold;font-style:normal;left:316.173px;top:51.1px;">Adjustments </div><div id="a35456" style="position:absolute;font-weight:bold;font-style:normal;left:419.88px;top:51.1px;">Plans </div><div id="a35458" style="position:absolute;font-weight:bold;font-style:normal;left:481.32px;top:51.1px;">Sale Securities </div><div id="a35460" style="position:absolute;font-weight:bold;font-style:normal;left:574.8px;top:51.1px;">Instruments </div><div id="a35463" style="position:absolute;font-weight:bold;font-style:normal;left:673.36px;top:51.1px;">Total </div><div id="a35465" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:68px;">Balance at December 31, 2019 </div><div id="a35468" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:68px;">$ </div><div id="a35470" style="position:absolute;left:344.973px;top:68px;">(44,568)</div><div id="a35473" style="position:absolute;font-weight:normal;font-style:normal;left:397.453px;top:68px;">$ </div><div id="a35475" style="position:absolute;left:428.04px;top:68px;">(34,533)</div><div id="a35478" style="position:absolute;font-weight:normal;font-style:normal;left:480.52px;top:68px;">$ </div><div id="a35480" style="position:absolute;left:530.6px;top:68px;">1,251</div><div id="a35483" style="position:absolute;font-weight:normal;font-style:normal;left:571.56px;top:68px;">$ </div><div id="a35485" style="position:absolute;left:618.8px;top:68px;">(320)</div><div id="a35488" style="position:absolute;font-weight:normal;font-style:normal;left:654.48px;top:68px;">$ </div><div id="a35490" style="position:absolute;left:677.04px;top:68px;">(78,170)</div><div id="a35493" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:85.1px;">Other comprehensive (loss) income before </div><div id="a35512" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:102.1px;">reclassifications </div><div id="a35516" style="position:absolute;left:344.973px;top:102.1px;">(44,069)</div><div id="a35520" style="position:absolute;left:449.64px;top:102.1px;">492</div><div id="a35524" style="position:absolute;left:549.16px;top:102.1px;">(8)</div><div id="a35528" style="position:absolute;left:608.88px;top:102.1px;">(5,315)</div><div id="a35532" style="position:absolute;left:677.04px;top:102.1px;">(48,900)</div><div id="a35535" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:119.1px;">Amounts reclassified from AOCI </div><div id="a35539" style="position:absolute;left:373.293px;top:119.1px;">—</div><div id="a35543" style="position:absolute;left:433px;top:119.1px;">24,966</div><div id="a35547" style="position:absolute;left:535.72px;top:119.1px;">(125)</div><div id="a35551" style="position:absolute;left:630.48px;top:119.1px;">—</div><div id="a35555" style="position:absolute;left:682px;top:119.1px;">24,841</div><div id="a35558" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:136px;">Current period other comprehensive (loss) income </div><div id="a35562" style="position:absolute;left:344.973px;top:136px;">(44,069)</div><div id="a35566" style="position:absolute;left:433px;top:136px;">25,458</div><div id="a35570" style="position:absolute;left:535.72px;top:136px;">(133)</div><div id="a35574" style="position:absolute;left:608.88px;top:136px;">(5,315)</div><div id="a35578" style="position:absolute;left:677.04px;top:136px;">(24,059)</div><div id="a35581" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:153.1px;">Related tax amounts </div><div id="a35585" style="position:absolute;left:373.293px;top:153.1px;">—</div><div id="a35589" style="position:absolute;left:434.76px;top:153.1px;">(8,288)</div><div id="a35593" style="position:absolute;left:547.4px;top:153.1px;">30</div><div id="a35597" style="position:absolute;left:613.68px;top:153.1px;">1,223</div><div id="a35601" style="position:absolute;left:683.76px;top:153.1px;">(7,035)</div><div id="a35604" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:170.1px;">Net current period other comprehensive (loss) income </div><div id="a35608" style="position:absolute;left:344.973px;top:170.1px;">(44,069)</div><div id="a35612" style="position:absolute;left:433px;top:170.1px;">17,170</div><div id="a35616" style="position:absolute;left:535.72px;top:170.1px;">(103)</div><div id="a35620" style="position:absolute;left:608.88px;top:170.1px;">(4,092)</div><div id="a35624" style="position:absolute;left:677.04px;top:170.1px;">(31,094)</div><div id="a35626" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:187.1px;">Balance at June 30, 2020 </div><div id="a35629" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:187.1px;">$ </div><div id="a35631" style="position:absolute;left:344.973px;top:187.1px;">(88,637)</div><div id="a35634" style="position:absolute;font-weight:normal;font-style:normal;left:397.453px;top:187.1px;">$ </div><div id="a35636" style="position:absolute;left:428.04px;top:187.1px;">(17,363)</div><div id="a35639" style="position:absolute;font-weight:normal;font-style:normal;left:480.52px;top:187.1px;">$ </div><div id="a35641" style="position:absolute;left:530.6px;top:187.1px;">1,148</div><div id="a35644" style="position:absolute;font-weight:normal;font-style:normal;left:571.56px;top:187.1px;">$ </div><div id="a35646" style="position:absolute;left:608.88px;top:187.1px;">(4,412)</div><div id="a35649" style="position:absolute;font-weight:normal;font-style:normal;left:654.48px;top:187.1px;">$ </div><div id="a35651" style="position:absolute;left:670.48px;top:187.1px;">(109,264)</div><div id="a35671" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:221.1px;">Balance at December 31, 2018 </div><div id="a35675" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:221.1px;">$ </div><div id="a35677" style="position:absolute;left:344.973px;top:221.1px;">(49,322)</div><div id="a35680" style="position:absolute;font-weight:normal;font-style:normal;left:397.453px;top:221.1px;">$ </div><div id="a35682" style="position:absolute;left:428.04px;top:221.1px;">(30,551)</div><div id="a35685" style="position:absolute;font-weight:normal;font-style:normal;left:480.52px;top:221.1px;">$ </div><div id="a35687" style="position:absolute;left:535.72px;top:221.1px;">(842)</div><div id="a35690" style="position:absolute;font-weight:normal;font-style:normal;left:571.56px;top:221.1px;">$ </div><div id="a35692" style="position:absolute;left:630.48px;top:221.1px;">—</div><div id="a35695" style="position:absolute;font-weight:normal;font-style:normal;left:654.48px;top:221.1px;">$ </div><div id="a35697" style="position:absolute;left:677.04px;top:221.1px;">(80,715)</div><div id="a35700" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:238.1px;">Other comprehensive (loss) income before<div style="display:inline-block;width:4.37px"> </div></div><div id="a35719" style="position:absolute;font-weight:normal;font-style:normal;left:24.427px;top:255.1px;">reclassifications </div><div id="a35723" style="position:absolute;left:361.613px;top:255.1px;">(974)</div><div id="a35727" style="position:absolute;left:456.36px;top:255.1px;">81</div><div id="a35731" style="position:absolute;left:530.6px;top:255.1px;">2,139</div><div id="a35735" style="position:absolute;left:630.48px;top:255.1px;">—</div><div id="a35739" style="position:absolute;left:688.56px;top:255.1px;">1,246</div><div id="a35742" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:272.1px;">Amounts reclassified from AOCI </div><div id="a35746" style="position:absolute;left:373.293px;top:272.1px;">—</div><div id="a35750" style="position:absolute;left:439.56px;top:272.1px;">1,465</div><div id="a35754" style="position:absolute;left:535.72px;top:272.1px;">(139)</div><div id="a35758" style="position:absolute;left:630.48px;top:272.1px;">—</div><div id="a35762" style="position:absolute;left:688.56px;top:272.1px;">1,326</div><div id="a35765" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:289.2px;">Current period other comprehensive (loss) income </div><div id="a35769" style="position:absolute;left:361.613px;top:289.2px;">(974)</div><div id="a35773" style="position:absolute;left:439.56px;top:289.2px;">1,546</div><div id="a35777" style="position:absolute;left:530.6px;top:289.2px;">2,000</div><div id="a35781" style="position:absolute;left:630.48px;top:289.2px;">—</div><div id="a35785" style="position:absolute;left:688.56px;top:289.2px;">2,572</div><div id="a35788" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:306.1px;">Related tax amounts </div><div id="a35792" style="position:absolute;left:373.293px;top:306.1px;">—</div><div id="a35796" style="position:absolute;left:444.68px;top:306.1px;">(318)</div><div id="a35800" style="position:absolute;left:535.72px;top:306.1px;">(420)</div><div id="a35804" style="position:absolute;left:630.48px;top:306.1px;">—</div><div id="a35808" style="position:absolute;left:693.68px;top:306.1px;">(738)</div><div id="a35811" style="position:absolute;font-weight:normal;font-style:normal;left:14.347px;top:323.1px;">Net current period other comprehensive (loss) income </div><div id="a35815" style="position:absolute;left:361.613px;top:323.1px;">(974)</div><div id="a35819" style="position:absolute;left:439.56px;top:323.1px;">1,228</div><div id="a35823" style="position:absolute;left:530.6px;top:323.1px;">1,580</div><div id="a35827" style="position:absolute;left:630.48px;top:323.1px;">—</div><div id="a35831" style="position:absolute;left:688.56px;top:323.1px;">1,834</div><div id="a35833" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:340.1px;">Balance at June 30, 2019 </div><div id="a35836" style="position:absolute;font-weight:normal;font-style:normal;left:314.413px;top:340.1px;">$ </div><div id="a35838" style="position:absolute;left:344.973px;top:340.1px;">(50,296)</div><div id="a35841" style="position:absolute;font-weight:normal;font-style:normal;left:397.453px;top:340.1px;">$ </div><div id="a35843" style="position:absolute;left:428.04px;top:340.1px;">(29,323)</div><div id="a35846" style="position:absolute;font-weight:normal;font-style:normal;left:480.52px;top:340.1px;">$ </div><div id="a35848" style="position:absolute;left:540.68px;top:340.1px;">738</div><div id="a35851" style="position:absolute;font-weight:normal;font-style:normal;left:571.56px;top:340.1px;">$ </div><div id="a35853" style="position:absolute;left:630.48px;top:340.1px;">—</div><div id="a35856" style="position:absolute;font-weight:normal;font-style:normal;left:654.48px;top:340.1px;">$ </div><div id="a35858" style="position:absolute;left:677.04px;top:340.1px;">(78,881)</div></div>

-99187000

-17576000

-460000

-4301000

-121524000

10550000 -336000 2128000 -144000 12198000 0 -600000 93000 0 -507000

10550000

264000

2035000

-144000

12705000

51000

427000

-33000

445000

10550000

213000

1608000

-111000

12260000

-88637000

-17363000

1148000

-4412000

-109264000

-49753000

-29845000

431000

-79167000

-543000 -79000 432000 0 -190000 0 -732000 43000 0 -689000

-543000

653000

389000

499000

131000

82000

213000

-543000

522000

307000

286000

-50296000

-29323000

738000

-78881000

-44568000

-34533000

1251000

-320000

-78170000

-44069000 492000 -8000 -5315000 -48900000 0 -24966000 125000 0 -24841000

-44069000

25458000

-133000

-5315000

-24059000

8288000

-30000

-1223000

7035000

-44069000

17170000

-103000

-4092000

-31094000

-88637000

-17363000

1148000

-4412000

-109264000

-49322000

-30551000

-842000

-80715000

-974000 81000 2139000 0 1246000 0 -1465000 139000 0 -1326000

-974000

1546000

2000000

2572000

318000

420000

738000

-974000

1228000

1580000

1834000

-50296000

-29323000

738000

-78881000

<div id="TextBlockContainer250" 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="a36015" 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="a36026" style="position:absolute;font-weight:normal;font-style:normal;left:209.253px;top:0px;"> </div><div id="a36027" 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="a36067" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.7px;">measurement as follows:</div></div><div id="TextBlockContainer253" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:79px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a36078" style="position:absolute;font-weight:bold;font-style:normal;left:452.2px;top:0px;">Fair Value<div style="display:inline-block;width:4.84px"> </div>Measurements at June 30, 2020 </div><div id="a36083" style="position:absolute;font-weight:bold;font-style:normal;left:365.453px;top:15px;">Total </div><div id="a36086" style="position:absolute;font-weight:bold;font-style:normal;left:499.24px;top:15px;">Using Fair Value<div style="display:inline-block;width:4.89px"> </div>Hierarchy </div><div id="a36088" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Assets </div><div id="a36090" style="position:absolute;font-weight:bold;font-style:normal;left:350.093px;top:30.7px;">Fair Value </div><div id="a36093" style="position:absolute;font-weight:bold;font-style:normal;left:460.2px;top:30.7px;">Level 1 </div><div id="a36096" style="position:absolute;font-weight:bold;font-style:normal;left:558.28px;top:30.7px;">Level 2 </div><div id="a36099" style="position:absolute;font-weight:bold;font-style:normal;left:656.24px;top:30.7px;">Level 3 </div><div id="a36101" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.2px;">Company-owned life insurance </div><div id="a36105" style="position:absolute;font-weight:normal;font-style:normal;left:338.413px;top:46.2px;">$ </div><div id="a36107" style="position:absolute;left:393.133px;top:46.2px;">1,711</div><div id="a36110" style="position:absolute;font-weight:normal;font-style:normal;left:438.44px;top:46.2px;">$ </div><div id="a36112" style="position:absolute;left:509.96px;top:46.2px;">—</div><div id="a36115" style="position:absolute;font-weight:normal;font-style:normal;left:536.52px;top:46.2px;">$ </div><div id="a36117" style="position:absolute;left:591.12px;top:46.2px;">1,711</div><div id="a36120" style="position:absolute;font-weight:normal;font-style:normal;left:634.48px;top:46.2px;">$ </div><div id="a36122" style="position:absolute;left:706px;top:46.2px;">—</div><div id="a36124" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:63.7px;">Total </div><div id="a36126" style="position:absolute;font-weight:normal;font-style:normal;left:338.413px;top:63.7px;">$ </div><div id="a36128" style="position:absolute;left:393.133px;top:63.7px;">1,711</div><div id="a36131" style="position:absolute;font-weight:normal;font-style:normal;left:438.44px;top:63.7px;">$ </div><div id="a36133" style="position:absolute;left:509.96px;top:63.7px;">—</div><div id="a36136" style="position:absolute;font-weight:normal;font-style:normal;left:536.52px;top:63.7px;">$ </div><div id="a36138" style="position:absolute;left:591.12px;top:63.7px;">1,711</div><div id="a36141" style="position:absolute;font-weight:normal;font-style:normal;left:634.48px;top:63.7px;">$ </div><div id="a36143" style="position:absolute;left:706px;top:63.7px;">—</div></div><div id="TextBlockContainer257" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:729px;height:80px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a36151" style="position:absolute;font-weight:bold;font-style:normal;left:438.76px;top:0px;">Fair Value<div style="display:inline-block;width:4.84px"> </div>Measurements at December 31, 2019 </div><div id="a36156" style="position:absolute;font-weight:bold;font-style:normal;left:367.213px;top:15px;">Total </div><div id="a36159" style="position:absolute;font-weight:bold;font-style:normal;left:501px;top:15px;">Using Fair Value<div style="display:inline-block;width:4.89px"> </div>Hierarchy </div><div id="a36161" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Assets </div><div id="a36163" style="position:absolute;font-weight:bold;font-style:normal;left:351.853px;top:30.7px;">Fair Value </div><div id="a36167" style="position:absolute;font-weight:bold;font-style:normal;left:461.96px;top:30.7px;">Level 1 </div><div id="a36170" style="position:absolute;font-weight:bold;font-style:normal;left:560.04px;top:30.7px;">Level 2 </div><div id="a36173" style="position:absolute;font-weight:bold;font-style:normal;left:658px;top:30.7px;">Level 3 </div><div id="a36175" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.2px;">Company-owned life insurance<div style="display:inline-block;width:4.06px"> </div></div><div id="a36179" style="position:absolute;font-weight:normal;font-style:normal;left:338.413px;top:46.2px;">$ </div><div id="a36181" style="position:absolute;left:393.613px;top:46.2px;">1,782</div><div id="a36184" style="position:absolute;font-weight:normal;font-style:normal;left:438.44px;top:46.2px;">$ </div><div id="a36186" style="position:absolute;left:510.44px;top:46.2px;">—</div><div id="a36189" style="position:absolute;font-weight:normal;font-style:normal;left:536.52px;top:46.2px;">$ </div><div id="a36191" style="position:absolute;left:591.6px;top:46.2px;">1,782</div><div id="a36194" style="position:absolute;font-weight:normal;font-style:normal;left:634.48px;top:46.2px;">$ </div><div id="a36196" style="position:absolute;left:706.48px;top:46.2px;">—</div><div id="a36198" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:63.7px;">Total </div><div id="a36200" style="position:absolute;font-weight:normal;font-style:normal;left:338.413px;top:63.7px;">$ </div><div id="a36202" style="position:absolute;left:393.613px;top:63.7px;">1,782</div><div id="a36205" style="position:absolute;font-weight:normal;font-style:normal;left:438.44px;top:63.7px;">$ </div><div id="a36207" style="position:absolute;left:510.44px;top:63.7px;">—</div><div id="a36210" style="position:absolute;font-weight:normal;font-style:normal;left:536.52px;top:63.7px;">$ </div><div id="a36212" style="position:absolute;left:591.6px;top:63.7px;">1,782</div><div id="a36215" style="position:absolute;font-weight:normal;font-style:normal;left:634.48px;top:63.7px;">$ </div><div id="a36217" style="position:absolute;left:706.48px;top:63.7px;">—</div></div><div id="TextBlockContainer260" 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="a36219" 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="a36261" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">terms.<div style="display:inline-block;width:6.86px"> </div>The Company did not hold any Level 3 investments as of<div style="display:inline-block;width:4.7px"> </div>June 30, 2020 or December 31, 2019, respectively,<div style="display:inline-block;width:5.49px"> </div>so related </div><div id="a36305" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">disclosures have not been included.</div></div>

<div id="TextBlockContainer254" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:79px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_252_XBRL_TS_006574e538454c048d2a7c64fc5e6b4e" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer253" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:728px;height:79px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a36078" style="position:absolute;font-weight:bold;font-style:normal;left:452.2px;top:0px;">Fair Value<div style="display:inline-block;width:4.84px"> </div>Measurements at June 30, 2020 </div><div id="a36083" style="position:absolute;font-weight:bold;font-style:normal;left:365.453px;top:15px;">Total </div><div id="a36086" style="position:absolute;font-weight:bold;font-style:normal;left:499.24px;top:15px;">Using Fair Value<div style="display:inline-block;width:4.89px"> </div>Hierarchy </div><div id="a36088" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Assets </div><div id="a36090" style="position:absolute;font-weight:bold;font-style:normal;left:350.093px;top:30.7px;">Fair Value </div><div id="a36093" style="position:absolute;font-weight:bold;font-style:normal;left:460.2px;top:30.7px;">Level 1 </div><div id="a36096" style="position:absolute;font-weight:bold;font-style:normal;left:558.28px;top:30.7px;">Level 2 </div><div id="a36099" style="position:absolute;font-weight:bold;font-style:normal;left:656.24px;top:30.7px;">Level 3 </div><div id="a36101" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.2px;">Company-owned life insurance </div><div id="a36105" style="position:absolute;font-weight:normal;font-style:normal;left:338.413px;top:46.2px;">$ </div><div id="a36107" style="position:absolute;left:393.133px;top:46.2px;">1,711</div><div id="a36110" style="position:absolute;font-weight:normal;font-style:normal;left:438.44px;top:46.2px;">$ </div><div id="a36112" style="position:absolute;left:509.96px;top:46.2px;">—</div><div id="a36115" style="position:absolute;font-weight:normal;font-style:normal;left:536.52px;top:46.2px;">$ </div><div id="a36117" style="position:absolute;left:591.12px;top:46.2px;">1,711</div><div id="a36120" style="position:absolute;font-weight:normal;font-style:normal;left:634.48px;top:46.2px;">$ </div><div id="a36122" style="position:absolute;left:706px;top:46.2px;">—</div><div id="a36124" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:63.7px;">Total </div><div id="a36126" style="position:absolute;font-weight:normal;font-style:normal;left:338.413px;top:63.7px;">$ </div><div id="a36128" style="position:absolute;left:393.133px;top:63.7px;">1,711</div><div id="a36131" style="position:absolute;font-weight:normal;font-style:normal;left:438.44px;top:63.7px;">$ </div><div id="a36133" style="position:absolute;left:509.96px;top:63.7px;">—</div><div id="a36136" style="position:absolute;font-weight:normal;font-style:normal;left:536.52px;top:63.7px;">$ </div><div id="a36138" style="position:absolute;left:591.12px;top:63.7px;">1,711</div><div id="a36141" style="position:absolute;font-weight:normal;font-style:normal;left:634.48px;top:63.7px;">$ </div><div id="a36143" style="position:absolute;left:706px;top:63.7px;">—</div></div></div></div><div id="TextBlockContainer258" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:729px;height:80px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_256_XBRL_TS_dce88a0cef5d4629bfa17876059d510d" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer257" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:729px;height:80px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a36151" style="position:absolute;font-weight:bold;font-style:normal;left:438.76px;top:0px;">Fair Value<div style="display:inline-block;width:4.84px"> </div>Measurements at December 31, 2019 </div><div id="a36156" style="position:absolute;font-weight:bold;font-style:normal;left:367.213px;top:15px;">Total </div><div id="a36159" style="position:absolute;font-weight:bold;font-style:normal;left:501px;top:15px;">Using Fair Value<div style="display:inline-block;width:4.89px"> </div>Hierarchy </div><div id="a36161" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">Assets </div><div id="a36163" style="position:absolute;font-weight:bold;font-style:normal;left:351.853px;top:30.7px;">Fair Value </div><div id="a36167" style="position:absolute;font-weight:bold;font-style:normal;left:461.96px;top:30.7px;">Level 1 </div><div id="a36170" style="position:absolute;font-weight:bold;font-style:normal;left:560.04px;top:30.7px;">Level 2 </div><div id="a36173" style="position:absolute;font-weight:bold;font-style:normal;left:658px;top:30.7px;">Level 3 </div><div id="a36175" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.2px;">Company-owned life insurance<div style="display:inline-block;width:4.06px"> </div></div><div id="a36179" style="position:absolute;font-weight:normal;font-style:normal;left:338.413px;top:46.2px;">$ </div><div id="a36181" style="position:absolute;left:393.613px;top:46.2px;">1,782</div><div id="a36184" style="position:absolute;font-weight:normal;font-style:normal;left:438.44px;top:46.2px;">$ </div><div id="a36186" style="position:absolute;left:510.44px;top:46.2px;">—</div><div id="a36189" style="position:absolute;font-weight:normal;font-style:normal;left:536.52px;top:46.2px;">$ </div><div id="a36191" style="position:absolute;left:591.6px;top:46.2px;">1,782</div><div id="a36194" style="position:absolute;font-weight:normal;font-style:normal;left:634.48px;top:46.2px;">$ </div><div id="a36196" style="position:absolute;left:706.48px;top:46.2px;">—</div><div id="a36198" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:63.7px;">Total </div><div id="a36200" style="position:absolute;font-weight:normal;font-style:normal;left:338.413px;top:63.7px;">$ </div><div id="a36202" style="position:absolute;left:393.613px;top:63.7px;">1,782</div><div id="a36205" style="position:absolute;font-weight:normal;font-style:normal;left:438.44px;top:63.7px;">$ </div><div id="a36207" style="position:absolute;left:510.44px;top:63.7px;">—</div><div id="a36210" style="position:absolute;font-weight:normal;font-style:normal;left:536.52px;top:63.7px;">$ </div><div id="a36212" style="position:absolute;left:591.6px;top:63.7px;">1,782</div><div id="a36215" style="position:absolute;font-weight:normal;font-style:normal;left:634.48px;top:63.7px;">$ </div><div id="a36217" style="position:absolute;left:706.48px;top:63.7px;">—</div></div></div></div>

1711000 0 1711000 0

1711000

1782000 0 1782000 0

1782000

<div id="TextBlockContainer262" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:729px;height:200px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a36315" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 18 – Hedging Activities </div><div id="a36325" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.2px;">As previously disclosed in its 2019 Form 10-K, in order to<div style="display:inline-block;width:4.79px"> </div>satisfy certain requirements of the New Credit Facility as well as to </div><div id="a36373" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.6px;">manage the Company’s exposure<div style="display:inline-block;width:4.91px"> </div>to variable interest rate risk associated with the New Credit Facility,<div style="display:inline-block;width:5.56px"> </div>in November 2019, the </div><div id="a36412" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:53.9px;">Company entered into $</div><div id="a36412_22_5" style="position:absolute;left:133.093px;top:53.9px;">170.0</div><div id="a36412_27_96" style="position:absolute;font-weight:normal;font-style:normal;left:163.013px;top:53.9px;"><div style="display:inline-block;width:3.2px"> </div>million notional amounts of three-year interest rate swaps.<div style="display:inline-block;width:8.05px"> </div>See Note 15 of Notes to Condensed </div><div id="a36452" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">Consolidated Financial Statements.<div style="display:inline-block;width:7.49px"> </div>These interest rate swaps are designated as cash flow<div style="display:inline-block;width:4.59px"> </div>hedges and, as such, the contracts are </div><div id="a36491" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">marked-to-market at each reporting date and any unrealized gains<div style="display:inline-block;width:4.86px"> </div>or losses are included in AOCI to the extent effective<div style="display:inline-block;width:4.66px"> </div>and </div><div id="a36536" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:99.8px;">reclassified to interest expense in the period during<div style="display:inline-block;width:4.7px"> </div>which the transaction affects earnings or it becomes<div style="display:inline-block;width:4.65px"> </div>probable that the forecasted </div><div id="a36576" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.2px;">transaction will not occur.<div style="display:inline-block;width:8.18px"> </div>The Company has previously used derivative financial instruments primarily<div style="display:inline-block;width:4.97px"> </div>for the purposes of hedging </div><div id="a36614" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.6px;">exposures to fluctuations in interest rates.<div style="display:inline-block;width:7.69px"> </div>The Company did not utilize derivatives designated as cash flow<div style="display:inline-block;width:4.88px"> </div>hedges during the three </div><div id="a36654" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:145.9px;">and six months ended June 30, 2019.<div style="display:inline-block;width:7.48px"> </div></div><div id="a36670" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:169.3px;">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="a36708" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:184.7px;">follows:</div></div><div id="TextBlockContainer265" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:709px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a36716" style="position:absolute;font-weight:bold;font-style:normal;left:567.6px;top:0px;">Fair Value </div><div id="a36722" style="position:absolute;font-weight:bold;font-style:normal;left:319.053px;top:17.3px;">Condensed Consolidated </div><div id="a36726" style="position:absolute;font-weight:bold;font-style:normal;left:519.56px;top:17.3px;">June 30, </div><div id="a36729" style="position:absolute;font-weight:bold;font-style:normal;left:614.32px;top:17.3px;">December 31, </div><div id="a36735" style="position:absolute;font-weight:bold;font-style:normal;left:322.893px;top:33.9px;">Balance Sheet Location </div><div id="a36738" style="position:absolute;font-weight:bold;font-style:normal;left:529.8px;top:33.9px;">2020 </div><div id="a36741" style="position:absolute;font-weight:bold;font-style:normal;left:639.76px;top:33.9px;">2019 </div><div id="a36745" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:51.2px;">Derivatives designated as cash flow hedges: </div><div id="a36758" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:68px;">Interest rate swaps </div><div id="a36760" style="position:absolute;font-weight:normal;font-style:normal;left:295.533px;top:68px;">Other non-current liabilities </div><div id="a36765" style="position:absolute;font-weight:normal;font-style:normal;left:493.64px;top:68px;">$ </div><div id="a36767" style="position:absolute;left:559.56px;top:68px;">5,730</div><div id="a36770" style="position:absolute;font-weight:normal;font-style:normal;left:603.6px;top:68px;">$ </div><div id="a36772" style="position:absolute;left:679.76px;top:68px;">415</div><div id="a36781" style="position:absolute;font-weight:normal;font-style:normal;left:493.64px;top:85.8px;">$ </div><div id="a36783" style="position:absolute;left:559.56px;top:85.8px;">5,730</div><div id="a36786" style="position:absolute;font-weight:normal;font-style:normal;left:603.6px;top:85.8px;">$ </div><div id="a36788" style="position:absolute;left:679.76px;top:85.8px;">415</div></div><div id="TextBlockContainer268" 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="a36791" 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="TextBlockContainer271" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:709px;height:85px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a36820" style="position:absolute;font-weight:bold;font-style:normal;left:518.44px;top:0px;">June 30, </div><div id="a36823" style="position:absolute;font-weight:bold;font-style:normal;left:614.32px;top:0px;">December 31, </div><div id="a36832" style="position:absolute;font-weight:bold;font-style:normal;left:528.68px;top:17px;">2020 </div><div id="a36835" style="position:absolute;font-weight:bold;font-style:normal;left:639.76px;top:17px;">2019 </div><div id="a36839" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:34.3px;">Derivatives designated as cash flow hedges: </div><div id="a36852" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:51.1px;">Interest rate swaps </div><div id="a36855" style="position:absolute;font-weight:normal;font-style:normal;left:322.573px;top:51.1px;">AOCI </div><div id="a36858" style="position:absolute;font-weight:normal;font-style:normal;left:493.96px;top:51.1px;">$ </div><div id="a36860" style="position:absolute;left:558.6px;top:51.1px;">4,412</div><div id="a36863" style="position:absolute;font-weight:normal;font-style:normal;left:605.04px;top:51.1px;">$ </div><div id="a36865" style="position:absolute;left:679.76px;top:51.1px;">320</div><div id="a36874" style="position:absolute;font-weight:normal;font-style:normal;left:493.96px;top:68.8px;">$ </div><div id="a36876" style="position:absolute;left:558.6px;top:68.8px;">4,412</div><div id="a36879" style="position:absolute;font-weight:normal;font-style:normal;left:605.04px;top:68.8px;">$ </div><div id="a36881" style="position:absolute;left:679.76px;top:68.8px;">320</div></div><div id="TextBlockContainer274" 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="a36884" 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="TextBlockContainer278" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:713px;height:84px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_276_XBRL_TS_4c4ba885631e41a38edbeba646b01db8" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer277" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:713px;height:84px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a36913" style="position:absolute;font-weight:bold;font-style:normal;left:419.88px;top:0px;">Three Months Ended </div><div id="a36916" style="position:absolute;font-weight:bold;font-style:normal;left:581.84px;top:0px;">Six Months Ended </div><div id="a36923" style="position:absolute;font-weight:bold;font-style:normal;left:456.84px;top:17px;">June 30, </div><div id="a36926" style="position:absolute;font-weight:bold;font-style:normal;left:610.8px;top:17px;">June 30, </div><div id="a36933" style="position:absolute;font-weight:bold;font-style:normal;left:428.68px;top:34.2px;">2020 </div><div id="a36936" style="position:absolute;font-weight:bold;font-style:normal;left:505.64px;top:34.2px;">2019 </div><div id="a36939" style="position:absolute;font-weight:bold;font-style:normal;left:582.64px;top:34.2px;">2020 </div><div id="a36942" style="position:absolute;font-weight:bold;font-style:normal;left:659.76px;top:34.2px;">2019 </div><div id="a36946" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51.4px;">Amount and location of expense reclassified </div><div id="a36963" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;">from AOCI into Expense (Effective Portion) </div><div id="a36966" style="position:absolute;font-weight:normal;font-style:normal;left:277.453px;top:68px;">Interest expense, net </div><div id="a36968" style="position:absolute;font-weight:normal;font-style:normal;left:407.56px;top:68px;">$ </div><div id="a36970" style="position:absolute;left:447.72px;top:68px;">(483)</div><div id="a36973" style="position:absolute;font-weight:normal;font-style:normal;left:484.52px;top:68px;">$ </div><div id="a36975" style="position:absolute;left:536.36px;top:68px;">—</div><div id="a36978" style="position:absolute;font-weight:normal;font-style:normal;left:561.48px;top:68px;">$ </div><div id="a36980" style="position:absolute;left:601.84px;top:68px;">(465)</div><div id="a36983" style="position:absolute;font-weight:normal;font-style:normal;left:638.64px;top:68px;">$ </div><div id="a36985" style="position:absolute;left:690.48px;top:68px;">—</div></div></div></div><div id="TextBlockContainer280" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:709px;height:62px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a37041" 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="a37083" 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="a37133" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">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 within<div style="display:inline-block;width:4.8px"> </div>the Condensed </div><div id="a37169" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:46.1px;">Consolidated Balance Sheets.</div></div>

170000000.0

<div id="TextBlockContainer266" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:709px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_264_XBRL_TS_456e576188db401984def0858c2115ae" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer265" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:709px;height:102px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a36716" style="position:absolute;font-weight:bold;font-style:normal;left:567.6px;top:0px;">Fair Value </div><div id="a36722" style="position:absolute;font-weight:bold;font-style:normal;left:319.053px;top:17.3px;">Condensed Consolidated </div><div id="a36726" style="position:absolute;font-weight:bold;font-style:normal;left:519.56px;top:17.3px;">June 30, </div><div id="a36729" style="position:absolute;font-weight:bold;font-style:normal;left:614.32px;top:17.3px;">December 31, </div><div id="a36735" style="position:absolute;font-weight:bold;font-style:normal;left:322.893px;top:33.9px;">Balance Sheet Location </div><div id="a36738" style="position:absolute;font-weight:bold;font-style:normal;left:529.8px;top:33.9px;">2020 </div><div id="a36741" style="position:absolute;font-weight:bold;font-style:normal;left:639.76px;top:33.9px;">2019 </div><div id="a36745" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:51.2px;">Derivatives designated as cash flow hedges: </div><div id="a36758" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:68px;">Interest rate swaps </div><div id="a36760" style="position:absolute;font-weight:normal;font-style:normal;left:295.533px;top:68px;">Other non-current liabilities </div><div id="a36765" style="position:absolute;font-weight:normal;font-style:normal;left:493.64px;top:68px;">$ </div><div id="a36767" style="position:absolute;left:559.56px;top:68px;">5,730</div><div id="a36770" style="position:absolute;font-weight:normal;font-style:normal;left:603.6px;top:68px;">$ </div><div id="a36772" style="position:absolute;left:679.76px;top:68px;">415</div><div id="a36781" style="position:absolute;font-weight:normal;font-style:normal;left:493.64px;top:85.8px;">$ </div><div id="a36783" style="position:absolute;left:559.56px;top:85.8px;">5,730</div><div id="a36786" style="position:absolute;font-weight:normal;font-style:normal;left:603.6px;top:85.8px;">$ </div><div id="a36788" style="position:absolute;left:679.76px;top:85.8px;">415</div></div></div></div><div id="TextBlockContainer272" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:709px;height:85px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="div_270_XBRL_TS_857ebe445d104ee89ec2caf203af14cb" style="position:absolute;left:0px;top:0px;float:left;"><div id="TextBlockContainer271" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:709px;height:85px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a36820" style="position:absolute;font-weight:bold;font-style:normal;left:518.44px;top:0px;">June 30, </div><div id="a36823" style="position:absolute;font-weight:bold;font-style:normal;left:614.32px;top:0px;">December 31, </div><div id="a36832" style="position:absolute;font-weight:bold;font-style:normal;left:528.68px;top:17px;">2020 </div><div id="a36835" style="position:absolute;font-weight:bold;font-style:normal;left:639.76px;top:17px;">2019 </div><div id="a36839" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:34.3px;">Derivatives designated as cash flow hedges: </div><div id="a36852" style="position:absolute;font-weight:normal;font-style:normal;left:14.507px;top:51.1px;">Interest rate swaps </div><div id="a36855" style="position:absolute;font-weight:normal;font-style:normal;left:322.573px;top:51.1px;">AOCI </div><div id="a36858" style="position:absolute;font-weight:normal;font-style:normal;left:493.96px;top:51.1px;">$ </div><div id="a36860" style="position:absolute;left:558.6px;top:51.1px;">4,412</div><div id="a36863" style="position:absolute;font-weight:normal;font-style:normal;left:605.04px;top:51.1px;">$ </div><div id="a36865" style="position:absolute;left:679.76px;top:51.1px;">320</div><div id="a36874" style="position:absolute;font-weight:normal;font-style:normal;left:493.96px;top:68.8px;">$ </div><div id="a36876" style="position:absolute;left:558.6px;top:68.8px;">4,412</div><div id="a36879" style="position:absolute;font-weight:normal;font-style:normal;left:605.04px;top:68.8px;">$ </div><div id="a36881" style="position:absolute;left:679.76px;top:68.8px;">320</div></div></div></div><div id="TextBlockContainer277" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:713px;height:84px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a36913" style="position:absolute;font-weight:bold;font-style:normal;left:419.88px;top:0px;">Three Months Ended </div><div id="a36916" style="position:absolute;font-weight:bold;font-style:normal;left:581.84px;top:0px;">Six Months Ended </div><div id="a36923" style="position:absolute;font-weight:bold;font-style:normal;left:456.84px;top:17px;">June 30, </div><div id="a36926" style="position:absolute;font-weight:bold;font-style:normal;left:610.8px;top:17px;">June 30, </div><div id="a36933" style="position:absolute;font-weight:bold;font-style:normal;left:428.68px;top:34.2px;">2020 </div><div id="a36936" style="position:absolute;font-weight:bold;font-style:normal;left:505.64px;top:34.2px;">2019 </div><div id="a36939" style="position:absolute;font-weight:bold;font-style:normal;left:582.64px;top:34.2px;">2020 </div><div id="a36942" style="position:absolute;font-weight:bold;font-style:normal;left:659.76px;top:34.2px;">2019 </div><div id="a36946" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:51.4px;">Amount and location of expense reclassified </div><div id="a36963" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:68px;">from AOCI into Expense (Effective Portion) </div><div id="a36966" style="position:absolute;font-weight:normal;font-style:normal;left:277.453px;top:68px;">Interest expense, net </div><div id="a36968" style="position:absolute;font-weight:normal;font-style:normal;left:407.56px;top:68px;">$ </div><div id="a36970" style="position:absolute;left:447.72px;top:68px;">(483)</div><div id="a36973" style="position:absolute;font-weight:normal;font-style:normal;left:484.52px;top:68px;">$ </div><div id="a36975" style="position:absolute;left:536.36px;top:68px;">—</div><div id="a36978" style="position:absolute;font-weight:normal;font-style:normal;left:561.48px;top:68px;">$ </div><div id="a36980" style="position:absolute;left:601.84px;top:68px;">(465)</div><div id="a36983" style="position:absolute;font-weight:normal;font-style:normal;left:638.64px;top:68px;">$ </div><div id="a36985" style="position:absolute;left:690.48px;top:68px;">—</div></div>

5730000

415000

5730000

415000

4412000

320000

4412000

320000

-483000

-465000

<div id="TextBlockContainer282" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:547px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a37175" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 19 – Commitments and Contingencies </div><div id="a37189" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.4px;">The Company previously disclosed in its 2019 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="a37231" 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="a37262" 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 June 30, 2020, ACP believes it is close to meeting the<div style="display:inline-block;width:4.75px"> </div>conditions for </div><div id="a37304" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.4px;">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="a37343" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.6px;">As of June 30, 2020, the Company believes that the range<div style="display:inline-block;width:4.74px"> </div>of potential-known liabilities associated with the balance<div style="display:inline-block;width:4.71px"> </div>of the ACP water </div><div id="a37389" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">remediation program is approximately $</div><div id="a37389_38_3" style="position:absolute;left:219.333px;top:100px;">0.1</div><div id="a37389_41_13" style="position:absolute;font-weight:normal;font-style:normal;left:236.013px;top:100px;"><div style="display:inline-block;width:3.36px"> </div>million to $</div><div id="a37389_54_3" style="position:absolute;left:301.613px;top:100px;">1.0</div><div id="a37389_57_73" style="position:absolute;font-weight:normal;font-style:normal;left:318.253px;top:100px;"><div style="display:inline-block;width:3.2px"> </div>million.<div style="display:inline-block;width:6.95px"> </div>The low and high ends of the range are based on the length of </div><div id="a37436" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">operation of the treatment system as determined<div style="display:inline-block;width:4.56px"> </div>by groundwater modeling.<div style="display:inline-block;width:7.35px"> </div>Costs of operation include the operation and maintenance </div><div id="a37472" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.7px;">of the extraction well, groundwater monitoring and progr<div style="display:inline-block;width:1.47px"> </div>am management. </div><div id="a37491" style="position:absolute;font-weight:bold;font-style:normal;left:404.04px;top:130.7px;"> </div><div id="a37492" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:154.1px;">The Company previously disclosed in its 2019 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="a37536" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:169.5px;">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="a37574" 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 and six months ended June 30, 2020,<div style="display:inline-block;width:4.69px"> </div>there have been no significant changes to </div><div id="a37622" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:200px;">the facts or circumstances of this previously disclosed matter,<div style="display:inline-block;width:5.33px"> </div>aside from on-going claims and routine payments associated with<div style="display:inline-block;width:4.72px"> </div>this </div><div id="a37662" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:215.4px;">litigation.<div style="display:inline-block;width:7px"> </div>Based on a continued analysis of the existing and anticipated<div style="display:inline-block;width:4.77px"> </div>future claims against this subsidiary,<div style="display:inline-block;width:4.96px"> </div>it is currently projected </div><div id="a37703" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:230.8px;">that the subsidiary’s total<div style="display:inline-block;width:4.8px"> </div>liability over the next 50 years for these claims is approximately<div style="display:inline-block;width:4.65px"> </div>$</div><div id="a37703_96_3" style="position:absolute;left:495.239px;top:230.8px;">0.5</div><div id="a37703_99_39" style="position:absolute;font-weight:normal;font-style:normal;left:512.039px;top:230.8px;"><div style="display:inline-block;width:3.36px"> </div>million (excluding costs of defense). </div><div id="a37745" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:254.1px;">The Company previously disclosed in its 2019 Form 10-K<div style="display:inline-block;width:4.78px"> </div>that as a result of the closing of the Combination, the Company<div style="display:inline-block;width:4.82px"> </div>is now </div><div id="a37793" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:269.3px;">party to Houghton environmental matters related to certain<div style="display:inline-block;width:4.68px"> </div>domestic and foreign properties currently or previously<div style="display:inline-block;width:4.6px"> </div>owned.<div style="display:inline-block;width:6.88px"> </div>These </div><div id="a37827" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:284.7px;">environmental matters primarily require the Company<div style="display:inline-block;width:4.79px"> </div>to perform long-term monitoring as well as operating and maintenance<div style="display:inline-block;width:4.92px"> </div>at each </div><div id="a37866" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:300px;">of the applicable sites.<div style="display:inline-block;width:7.2px"> </div>During the three and six months ended June 30, 2020, there<div style="display:inline-block;width:4.91px"> </div>have been no significant changes to the facts or </div><div id="a37915" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:315.4px;">circumstances of these previously disclosed matters, aside from<div style="display:inline-block;width:4.98px"> </div>on-going monitoring and maintenance activities and routine payments </div><div id="a37949" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:330.8px;">associated with each of the sites.<div style="display:inline-block;width:7.35px"> </div>The Company continually evaluates its obligations related<div style="display:inline-block;width:4.77px"> </div>to such matters, and based on historical </div><div id="a37990" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:346.1px;">costs incurred and projected costs to be incurred over<div style="display:inline-block;width:4.7px"> </div>the next 28 years, has estimated the present value range of costs for<div style="display:inline-block;width:4.72px"> </div>all of the </div><div id="a38040" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:361.3px;">Houghton environmental matters, on a discounted<div style="display:inline-block;width:4.61px"> </div>basis, to be between approximately $</div><div id="a38040_84_1" style="position:absolute;left:472.36px;top:361.3px;">5</div><div id="a38040_85_14" style="position:absolute;font-weight:normal;font-style:normal;left:479.08px;top:361.3px;"><div style="display:inline-block;width:3.2px"> </div>million and $</div><div id="a38040_99_1" style="position:absolute;left:553.48px;top:361.3px;">6</div><div id="a38040_100_30" style="position:absolute;font-weight:normal;font-style:normal;left:560.2px;top:361.3px;"><div style="display:inline-block;width:3.36px"> </div>million as of June 30, 2020, </div><div id="a38083" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:376.7px;">for which $</div><div id="a38083_11_3" style="position:absolute;left:66.058px;top:376.7px;">5.8</div><div id="a38083_14_115" style="position:absolute;font-weight:normal;font-style:normal;left:82.699px;top:376.7px;"><div style="display:inline-block;width:3.36px"> </div>million was accrued within other accrued liabilities and other<div style="display:inline-block;width:4.73px"> </div>non-current liabilities on the Company’s<div style="display:inline-block;width:5.07px"> </div>Condensed </div><div id="a38121" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:392.1px;">Consolidated Balance Sheet as of June 30, 2020.<div style="display:inline-block;width:7.93px"> </div>Comparatively, as of<div style="display:inline-block;width:4.74px"> </div>December 31, 2019, the Company had $</div><div id="a38121_106_3" style="position:absolute;left:601.359px;top:392.1px;">6.6</div><div id="a38121_109_21" style="position:absolute;font-weight:normal;font-style:normal;left:617.999px;top:392.1px;"><div style="display:inline-block;width:3.36px"> </div>million accrued for </div><div id="a38163" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:407.4px;">with respect to these matters. </div><div id="a38173" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:430.8px;">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="a38209" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:446.1px;">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="a38209_123_3" style="position:absolute;left:670.319px;top:446.1px;">0.1</div><div id="a38209_126_1" style="position:absolute;font-weight:normal;font-style:normal;left:686.96px;top:446.1px;"> </div><div id="a38247" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:461.3px;">million and $</div><div id="a38247_13_3" style="position:absolute;left:75.658px;top:461.3px;">0.2</div><div id="a38247_16_118" style="position:absolute;font-weight:normal;font-style:normal;left:92.293px;top:461.3px;"><div style="display:inline-block;width:3.36px"> </div>million were accrued as of June 30, 2020 and December<div style="display:inline-block;width:4.74px"> </div>31, 2019, respectively,<div style="display:inline-block;width:4.75px"> </div>to provide for such anticipated future </div><div id="a38292" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:476.7px;">environmental assessments and remediation costs.<div style="display:inline-block;width:7.82px"> </div></div><div id="a38303" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:500.1px;">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="a38343" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:515.4px;">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="a38381" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:530.8px;">purchase obligations.</div></div>

100000

1000000.0

500000

5000000

6000000

5800000

6600000

100000

200000

<div id="TextBlockContainer284" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:733px;height:192px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a38385" style="position:absolute;font-weight:bold;font-style:normal;left:4.427px;top:0px;">Note 20 – COVID-19 Global Pandemic </div><div id="a38400" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:23.2px;">In early 2020, a global outbreak of COVID-19 occurred<div style="display:inline-block;width:4.81px"> </div>initially in China and then across all locations where the Company does </div><div id="a38444" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:38.6px;">business, and which is continuing into the second half of<div style="display:inline-block;width:4.7px"> </div>the year.<div style="display:inline-block;width:7.66px"> </div>In March 2020, the World<div style="display:inline-block;width:4.94px"> </div>Health Organization formally identified </div><div id="a38486" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:54px;">the COVID-19 outbreak as a pandemic.<div style="display:inline-block;width:7.85px"> </div>In an effort to halt the outbreak of COVID-19, the governments<div style="display:inline-block;width:4.97px"> </div>of impacted countries, </div><div id="a38531" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:69.3px;">including but not limited to the United States, the European<div style="display:inline-block;width:4.74px"> </div>Union, and China, have taken various actions to reduce<div style="display:inline-block;width:4.76px"> </div>its spread, </div><div id="a38573" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:84.7px;">including travel restrictions, shutdowns of businesses deemed<div style="display:inline-block;width:4.82px"> </div>nonessential, and stay-at-home or similar orders.</div><div id="a38604" style="position:absolute;font-size:16px;font-weight:normal;font-style:normal;left:596.88px;top:82.2px;"><div style="display:inline-block;width:4px"> </div></div><div id="a38605" style="position:absolute;font-weight:normal;font-style:normal;left:604.88px;top:84.7px;">This outbreak and </div><div id="a38611" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:99.9px;">associated measures to reduce its spread have caused<div style="display:inline-block;width:4.8px"> </div>significant disruptions<div style="display:inline-block;width:3.86px"> </div>to the operations of the Company and its suppliers and </div><div id="a38652" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.2px;">customers.<div style="display:inline-block;width:7.03px"> </div>The disruptions and negative impact to the Company<div style="display:inline-block;width:4.71px"> </div>include significant volume declines and lower net sales first at its </div><div id="a38693" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.6px;">China subsidiaries in the first quarter of 2020 and<div style="display:inline-block;width:4.74px"> </div>subsequently, particularly<div style="display:inline-block;width:4.66px"> </div>beginning in the second half of March and into the second </div><div id="a38738" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:146px;">quarter, at many of its other<div style="display:inline-block;width:4.73px"> </div>sites globally as the global economy slowed significantly in response<div style="display:inline-block;width:4.77px"> </div>to the pandemic.<div style="display:inline-block;width:7.1px"> </div>Management </div><div id="a38778" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:161.3px;">continues to monitor the impact that the COVID-19 pandemic<div style="display:inline-block;width:4.76px"> </div>is having on the Company,<div style="display:inline-block;width:5.02px"> </div>the overall specialty chemical industry,<div style="display:inline-block;width:5.19px"> </div>and </div><div id="a38820" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:176.7px;">the economies and markets in which the Company operates.</div></div><div id="TextBlockContainer286" style="position:relative;font-family:Times New Roman;font-size:13.28px;color:#000000;line-height:normal;width:731px;height:293px;display:inline-block;border:inherit;margin-left:-2px;margin-right:-2px;"><div id="a38892" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:0px;">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, have </div><div id="a38924" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:15.4px;">affected financial reporting processes, internal control<div style="display:inline-block;width:4.96px"> </div>over financial reporting, and disclosure controls and procedures.<div style="display:inline-block;width:7.98px"> </div>While the </div><div id="a38957" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:30.7px;">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<div style="display:inline-block;width:4.71px"> </div>that </div><div id="a38995" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:45.9px;">COVID-19 has had a material impact on financial reporting<div style="display:inline-block;width:4.69px"> </div>processes, internal controls over financial reporting, and<div style="display:inline-block;width:4.73px"> </div>disclosure </div><div id="a39032" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:61.3px;">controls and procedures.<div style="display:inline-block;width:13.85px"> </div></div><div id="a39040" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:84.6px;">The full extent of the COVID-19 pandemic related<div style="display:inline-block;width:4.58px"> </div>business and travel restrictions and changes to business and<div style="display:inline-block;width:4.91px"> </div>consumer </div><div id="a39079" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:100px;">behavior intended to reduce its spread are uncertain as of<div style="display:inline-block;width:4.86px"> </div>the date of this Report as COVID-19 and the responses of governmental </div><div id="a39125" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:115.4px;">authorities continue to rapidly evolve globally.<div style="display:inline-block;width:8.84px"> </div>The Company cannot reasonably estimate the magnitude of the effects<div style="display:inline-block;width:5.06px"> </div>these </div><div id="a39159" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:130.7px;">conditions will have on the Company’s<div style="display:inline-block;width:5.16px"> </div>operations as they are subject to significant uncertainties relating to<div style="display:inline-block;width:4.75px"> </div>the ultimate geographic </div><div id="a39197" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:145.9px;">spread of the virus, the incidence and severity of<div style="display:inline-block;width:4.71px"> </div>the disease, the duration or recurrence of the outbreak, the<div style="display:inline-block;width:4.72px"> </div>length of the travel </div><div id="a39243" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:161.3px;">restrictions and business closures imposed by governments<div style="display:inline-block;width:4.8px"> </div>of impacted countries, and the economic response by governments<div style="display:inline-block;width:4.81px"> </div>of </div><div id="a39277" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:176.6px;">impacted countries.<div style="display:inline-block;width:7.08px"> </div></div><div id="a39282" style="position:absolute;font-weight:normal;font-style:normal;left:28.427px;top:200px;">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="a39323" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:215.4px;">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 id="a39367" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:230.8px;">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="a39401" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:246px;">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="a39435" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:261.3px;">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="a39477" style="position:absolute;font-weight:normal;font-style:normal;left:4.427px;top:276.7px;">impact the Company’s results<div style="display:inline-block;width:4.77px"> </div>of operations, liquidity or financial position.</div></div>