XML 60 R40.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Employee Benefit Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items] |
Schedule of Plan Obligations and Funded Status | The following tables summarize the balance sheet impact, including the benefit obligations, assets and funded status associated with the Company's three defined benefit plans for non-U.S. participants at December 31, 2016 and 2015.
| December 31,
(in millions) | 2016 |  | 2015
Change in benefit obligation: |  |  |
Benefit obligation at beginning of year | $ | 51.0 |  |  | $ | 55.2 |
Benefits earned during the year | 0.2 |  |  | 0.2 |
Interest cost | 1.6 |  |  | 2.0 |
Benefits paid | (1.7 | ) |  | (2.5 | )
Actuarial gain (loss) | 10.1 |  |  | (1.2 | )
Settlement and curtailment gains | (0.2 | ) |  | (0.3 | )
Currency translation and other | (8.6 | ) |  | (2.4 | )
Benefit obligation at end of year | 52.4 |  |  | 51.0 |
Change in plan assets: |  |  |  |  |
Fair value of plan assets at beginning of year | 45.1 |  |  | 45.9 |
Actual return on plan assets | 6.7 |  |  | 0.7 |
Company contributions | 1.7 |  |  | 3.3 |
Benefits paid | (1.7 | ) |  | (2.5 | )
Settlements and curtailments | (0.2 | ) |  | (0.3 | )
Currency translation and other | (7.8 | ) |  | (2.0 | )
Fair value of plan assets at end of year | 43.8 |  |  | 45.1 |
Funded status | $ | (8.6 | ) |  | $ | (5.9 | )
Amounts recognized in the balance sheets consist of: |  |  |  |  |
Other assets and deferred charges | $ | — |  |  | $ | 0.4 |
Other liabilities | (8.6 | ) |  | (6.3 | )
Funded status | $ | (8.6 | ) |  | $ | (5.9 | )
Accumulated Other Comprehensive Loss: |  |  |
Net actuarial losses | $ | 20.1 |  |  | $ | 14.7 |
Deferred taxes | (3.6 | ) |  | (3.5 | )
Total Accumulated Other Comprehensive Loss, net of tax | 16.5 |  |  | 11.2 |
Net amount recognized at December 31, | $ | 7.9 |  |  | $ | 5.3 |
Accumulated benefit obligations | $ | 51.3 |  |  | $ | 49.8 |
Schedule of Accumulated Benefit Obligations in Excess of Plan Assets | Pension plans with accumulated benefit obligations in excess of plan assets consisted of the following at December 31, 2016 and 2015:
| December 31,
(in millions) | 2016 |  | 2015
Projected benefit obligation | $ | 32.6 |  |  | $ | 31.3 |
Accumulated benefit obligation | 31.9 |  |  | 30.3 |
Fair value of plan assets | 24.2 |  |  | 25.0 |
Schedule of Net Periodic Benefit Costs | Components of the net periodic benefit cost were as follows:
| Non-U.S. Plans
| Years Ended December 31,
(in millions) | 2016 |  | 2015 |  | 2014
Service cost | $ | 0.2 |  |  | $ | 0.2 |  |  | $ | 0.2 |
Interest cost | 1.6 |  |  | 2.0 |  |  | 2.3 |
Expected return on plan assets | (2.4 | ) |  | (2.9 | ) |  | (2.9 | )
Amortization of recognized actuarial loss | 0.3 |  |  | 0.4 |  |  | 0.2 |
Settlement and curtailment loss | — |  |  | 0.1 |  |  | 0.1 |
Total net periodic benefit cost | $ | (0.3 | ) |  | $ | (0.2 | ) |  | $ | (0.1 | )
Schedule of Assumptions Used | The assumptions used in determining the benefit obligations were as follows:
| Non-U.S. Plans
| December 31,
| 2016 |  | 2015
Discount rate |  |  |
Taiwan | 1.50 | % |  | 1.10 | %
United Kingdom | 2.65 | % |  | 3.90 | %
Weighted average | 2.60 | % |  | 3.75 | %
Average wage increase |  |  |
Taiwan | 4.00 | % |  | 4.00 | %
United Kingdom | 4.60 | % |  | 4.25 | %
Weighted average | 4.55 | % |  | 4.22 | %
The assumptions used in determining the net periodic benefit cost were as follows:
| Years Ended December 31,
| 2016 |  | 2015 |  | 2014
Discount rate |  |  |  |  |
Taiwan | 1.10 | % |  | 2.00 | % |  | 2.00 | %
United Kingdom | 3.90 | % |  | 3.75 | % |  | 4.50 | %
Weighted average | 3.72 | % |  | 3.66 | % |  | 4.40 | %
Average wage increase |  |  |  |  |
Taiwan | 4.00 | % |  | 4.00 | % |  | 4.00 | %
United Kingdom | 4.25 | % |  | 4.25 | % |  | 4.40 | %
Weighted average | 4.16 | % |  | 4.23 | % |  | 4.38 | %
Expected return on plan assets |  |  |  |  |
Taiwan | 1.50 | % |  | 1.50 | % |  | 2.00 | %
United Kingdom | 6.50 | % |  | 6.53 | % |  | 6.51 | %
Weighted average | 6.42 | % |  | 6.38 | % |  | 6.35 | %
Fair Value of Plan Assets by Asset Category | The fair values of plan assets by asset category within the ASC 820 hierarchy were as follows at December 31, 2016 and 2015:
| December 31, 2016 |  | December 31, 2015
(in millions) | Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value
Asset category: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed income investments | $ | 3.3 |  |  | $ | 9.7 |  |  | $ | — |  |  | $ | 13.0 |  |  | $ | 1.1 |  |  | $ | 13.5 |  |  | $ | — |  |  | $ | 14.6 |
Common stock funds | 2.3 |  |  | 16.4 |  |  | — |  |  | 18.7 |  |  | 2.7 |  |  | 20.0 |  |  | — |  |  | 22.7 |
Cash and equivalents | 0.6 |  |  | 2.9 |  |  | — |  |  | 3.5 |  |  | 0.3 |  |  | 0.8 |  |  | — |  |  | 1.1 |
Other | 1.6 |  |  | 7.0 |  |  | — |  |  | 8.6 |  |  | 1.7 |  |  | 5.0 |  |  | — |  |  | 6.7 |
Total | $ | 7.8 |  |  | $ | 36.0 |  |  | $ | — |  |  | $ | 43.8 |  |  | $ | 5.8 |  |  | $ | 39.3 |  |  | $ | — |  |  | $ | 45.1 |
Schedule of Expected Benefit Payments | Estimated future benefit payments to retirees, which reflect expected future service, are as follows:
(in millions) | Non-U.S. Plans
2017 | $ | 1.3 |
2018 | 1.3 |
2019 | 1.4 |
2020 | 1.5 |
2021 | 1.6 |
2022-2026 | 9.4 |
Non-Qualified Supplemental Retirement Plan |
Defined Benefit Plan Disclosure [Line Items] |
Schedule of Amounts Recognized in Balance Sheet | In connection with the Separation from Dover on February 28, 2014, Dover transferred an unfunded non-qualified supplemental retirement plan liability to Knowles. The net amount recognized on the balance sheet at December 31, 2016 is shown in the table below:
(in millions) | December 31, 2016
Accrued compensation and employee benefits | $ | (0.2 | )
Other liabilities | (1.6 | )
Total Accumulated Other Comprehensive Loss, net of tax | 0.2 |
Net amount recognized at December 31, 2016 | $ | (1.6 | )

X
- Definition Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a)(b)(c) -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920 + Details
Name: | us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DefinedBenefitPlanDisclosureLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of accumulated benefit obligations and fair values of plan assets of pension plans and/or other employee benefit plans where the accumulated benefit obligation exceeds the fair value of plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e2417-114920 + Details
Name: | us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis=us-gaap_OtherPensionPlansPostretirementOrSupplementalPlansDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |