XML 18 R2.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Income Statement [Abstract]      
Revenues $ 1,084.6 $ 1,141.3 $ 1,214.8
Cost of goods sold 785.1 883.9 775.5
Impairment of Long-Lived Assets to be Disposed of 53.4 1.4 3.6
Restructuring charges - cost of goods sold 3.6 23.3 7.8
Gross profit 242.5 232.7 427.9
Research and development expenses 112.1 83.0 82.6
Selling and administrative expenses 208.1 196.5 193.0
Impairment of intangible assets, finite-lived 144.7 0.0 0.0
Restructuring charges 12.7 6.3 8.5
Operating expenses 477.6 285.8 284.1
Operating (loss) earnings (235.1) (53.1) 143.8
Interest expense, net 12.7 6.6 42.0
Other (income) expense, net 1.1 (4.6) 0.3
(Loss) earnings before income taxes (248.9) (55.1) 101.5
(Benefit from) provision for income taxes (15.1) 31.9 (4.3)
Net (loss) earnings [1] $ (233.8) $ (87.0) $ 105.8
Earnings per share:      
Basic (loss) earnings per share (usd per share) [2] $ (2.69) $ (1.02) $ 1.24
Diluted (loss) earnings per share (usd per share) [2] $ (2.69) $ (1.02) $ 1.24
Weighted average common shares outstanding:      
Basic (in shares) [2] 86,802,828 85,046,042 85,019,159
Diluted (in shares) [2] 86,802,828 85,046,042 85,019,159
[1] Years Ended December 31, 2015 2014 2013Revenue: Mobile Consumer Electronics$656.7 $684.1 $777.2Specialty Components427.9 457.2 437.7Intra-segment eliminations— — (0.1)Total consolidated revenue$1,084.6 $1,141.3 $1,214.8 (Loss) earnings before interest and income taxes: Mobile Consumer Electronics$(240.8) $(74.6) $122.0Specialty Components61.0 69.5 65.0Total segments(179.8) (5.1) 187.0Corporate expense / other56.4 43.4 43.5Interest expense, net12.7 6.6 42.0(Loss) earnings before income taxes(248.9) (55.1) 101.5(Benefit from) provision for income taxes(15.1) 31.9 (4.3)Net (loss) earnings$(233.8) $(87.0) $105.8 Depreciation and amortization: Mobile Consumer Electronics$107.9 $143.0 $100.3Specialty Components25.1 24.8 28.8Corporate2.7 2.1 1.8Total$135.7 $169.9 $130.9 Capital expenditures: Mobile Consumer Electronics$43.5 $71.0 $66.4Specialty Components19.9 16.6 21.7Corporate5.6 4.7 3.2Total$69.0 $92.3 $91.3 Research and development: Mobile Consumer Electronics$83.9 $55.1 $53.5Specialty Components28.2 27.9 29.1Total$112.1 $83.0 $82.6
[2] On February 28, 2014, Dover stockholders of record as of the close of business on February 19, 2014 received one share of Knowles common stock for every two shares of Dover's common stock held as of the record date. The computation of basic and diluted earnings per common share for all periods through December 31, 2013 was calculated using the shares distributed on February 28, 2014.