Hedging Transaction and Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Instruments, Balance Sheet Location

The following table sets forth the fair values of derivative instruments held by the Company at March 31, 2016 and December 31, 2015 and the balance sheet lines to which they are recorded (in millions):



Hedge Type	Balance Sheet Line Item	March 31, 2016		December 31, 2015
Cash flow hedges	Prepaid and other current assets	$	2.4	$	—
Cash flow hedges	Other accrued expenses	1.2		1.1
Cash flow hedges	Other liabilities	1.3		0.6
Economic hedges	Other accrued expenses	0.6		0.1

Schedule of Other Derivative Not Designated as Hedging Instruments, Statements of Financial Performance Location

For economic hedges, for which the Company does not apply hedge accounting, the following losses were recorded for the three months ended March 31, 2016 and March 31, 2015.



Hedge Type	Income Statement Line	March 31, 2016		March 31, 2015
Economic hedges	Other expense (income), net	$	0.6	$	0.9

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance Location

The following table presents the pre-tax impact of changes in the fair values of the designated derivatives, which qualify for hedge accounting during the three month periods ended March 31, 2016 and March 31, 2015. Knowles reclassified these losses out of AOCI into Other expense (income), net as follows:



Hedge Type	Income Statement Line	March 31, 2016		March 31, 2015
Cash flow hedges	Other expense (income), net	$	0.1	$	—