Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Schedule of Defined Benefit Plans Disclosures [Table Text Block]

The following tables summarize the balance sheet impact, including the benefit obligations, assets, and funded status associated with the Company's significant defined benefit and other postretirement plans at December 31, 2014 and 2013.



	Qualified Defined Benefits												Non-Qualified Supplemental Benefits						Post-Retirement Benefits
	U.S. Plan						Non-U.S. Plans						Non-Qualified Supplemental Benefits						Post-Retirement Benefits
	2014			2013			2014			2013			2014			2013			2014			2013
Change in benefit obligation:
Benefit obligation at beginning of year	$	519,552		$	603,905		$	299,284		$	284,798		$	133,056		$	180,408		$	14,136		$	14,571
Benefits earned during the year	13,801			17,123			6,027			6,043			3,320			5,634			249			234
Interest cost	25,204			24,801			8,222			9,081			6,148			6,741			627			523
Plan participants' contributions	—			—			1,732			1,583			—			—			476			448
Benefits paid	(17,957		)	(35,266		)	(5,452		)	(11,237		)	(13,939		)	(20,686		)	(1,222		)	(1,163		)
Actuarial (gain) loss	84,314			(76,605		)	40,962			6,501			11,088			(34,831		)	(556		)	(618		)
Business dispositions	—			—			(60,164		)	—			(3,137		)	—			—			—
Amendments	—			1,913			—			—			1,463			3,004			—			65
Settlements and curtailments	(49,338		)	(16,818		)	(390		)	(3,036		)	—			(7,228		)	—			—
Currency translation and other	—			499			(25,198		)	5,551			—			14			233			76
Benefit obligation at end of year	575,576			519,552			265,023			299,284			137,999			133,056			13,943			14,136
Change in plan assets:
Fair value of plan assets at beginning of year	595,143			554,648			203,681			181,416			—			—			—			—
Actual return on plan assets	73,528			66,761			14,868			17,356			—			—			—			—
Company contributions	—			9,000			9,547			11,359			13,939			20,686			746			715
Plan participants' contributions	—			—			1,732			1,583			—			—			476			448
Benefits paid	(17,957		)	(35,266		)	(5,452		)	(11,237		)	(13,939		)	(20,686		)	(1,222		)	(1,163		)
Business dispositions	—			—			(46,334		)	—			—			—			—			—
Settlements and curtailments	(49,338		)	—			(390		)	—			—			—			—			—
Currency translation	—			—			(14,142		)	3,204			—			—			—			—
Fair value of plan assets at end of year	601,376			595,143			163,510			203,681			—			—			—			—
Funded status	$	25,800		$	75,591		$	(101,513	)	$	(95,603	)	$	(137,999	)	$	(133,056	)	$	(13,943	)	$	(14,136	)

Amounts recognized in the balance sheets consist of:
Assets and Liabilities:
Other assets and deferred charges	$	25,800		$	75,591		$	152		$	2,976		$	—		$	—		$	—		$	—
Accrued compensation and employee benefits	—			—			(1,575		)	(1,970		)	(21,978		)	(10,161		)	(926		)	(971		)
Other liabilities (deferred compensation)	—			—			(100,090		)	(96,609		)	(116,021		)	(122,895		)	(13,017		)	(13,165		)
Total Assets and Liabilities	$	25,800		$	75,591		$	(101,513	)	$	(95,603	)	$	(137,999	)	$	(133,056	)	$	(13,943	)	$	(14,136	)

Accumulated Other Comprehensive Loss (Earnings):
Net actuarial losses (gains)	$	119,919		$	86,108		$	61,813		$	38,596		$	(746	)	$	(12,520	)	$	192		$	799
Prior service cost (credit)	3,388			4,471			1,058			1,146			31,381			38,646			(615		)	(1,024		)
Net asset at transition, other	—			—			(48		)	(48		)	—			—			—			—
Deferred taxes	(43,158		)	(31,703		)	(15,312		)	(9,965		)	(10,725		)	(9,145		)	90			20
Total Accumulated Other Comprehensive Loss (Earnings), net of tax	80,149			58,876			47,511			29,729			19,910			16,981			(333		)	(205		)
Net amount recognized at December 31,	$	105,949		$	134,467		$	(54,002	)	$	(65,874	)	$	(118,089	)	$	(116,075	)	$	(14,276	)	$	(14,341	)

Accumulated benefit obligations	$	537,393		$	482,181		$	246,814		$	280,763		$	123,229		$	93,153

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]

Pension plans with accumulated benefit obligations in excess of plan assets consist of the following at December 31, 2014 and 2013:



	2014		2013
Projected benefit obligation (PBO)	$	372,931	$	369,289
Accumulated benefit obligation (ABO)	342,158		336,095
Fair value of plan assets	133,930		137,654

Schedule of Net Benefit Costs [Table Text Block]

Net Periodic Benefit Cost

Components of the net periodic benefit cost were as follows:

Defined Benefit Plans



	Qualified Defined Benefits																		Non-Qualified Supplemental Benefits
	U.S. Plan									Non-U.S. Plans ⁽¹⁾									Non-Qualified Supplemental Benefits
	2014			2013			2012			2014			2013			2012			2014			2013			2012
Service cost	$	13,801		$	17,123		$	14,406		$	6,027		$	6,043		$	5,712		$	3,320		$	5,634		$	5,304
Interest cost	25,204			24,801			25,136			8,222			9,081			10,044			6,148			6,741			7,916
Expected return on plan assets	(41,594		)	(40,194		)	(38,978		)	(8,498		)	(9,608		)	(8,765		)	—			—			—
Amortization of:
Prior service cost	1,083			1,026			1,048			107			114			117			7,775			8,110			7,425
Recognized actuarial loss (gain)	8,289			17,654			13,515			903			1,492			579			(428		)	(16		)	138
Transition obligation	—			—			—			4			(14		)	(47		)	—			—			—
Settlement & curtailment (gain) loss ⁽²⁾	10,279			187			—			(45		)	697			1,449			—			(4,411		)	—
Other	—			501			—			6			5			—			—			13			—
Total net periodic benefit cost	$	17,062		$	21,098		$	15,127		$	6,726		$	7,810		$	9,089		$	16,815		$	16,071		$	20,783


(1)	Net periodic benefit cost for non-U.S. plans includes $55, $1,220, and $1,231 of expense for the years ended December 31, 2014, 2013, and 2012, respectively, relating to plans sponsored by Knowles that were distributed as part of the separation on February 28, 2014.

(2)

$6,675 of the 2014 settlement loss on the U.S. Plan is attributable to Knowles participants in the Dover Defined Benefit Plan and has therefore, been reflected in the results of discontinued operations. The remaining $3,604 of this settlement loss has been reflected in the results of continuing operations. The curtailment gain of $4,411 was recognized in continuing operations in 2013 in connection with the freeze of the non-qualified supplemental benefit plan.

Post-Retirement Benefits



	2014			2013			2012
Service cost	$	249		$	234		$	248
Interest cost	627			523			593
Amortization of:
Prior service credit	(409		)	(416		)	(416		)
Recognized actuarial loss (gain)	54			134			(19		)
Settlement & curtailment gain	—			—			(1,493		)
Other	233			77			—
Total net periodic benefit cost	$	754		$	552		$	(1,087	)

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]

Amounts expected to be amortized from Accumulated Other Comprehensive Earnings (Loss) into net periodic benefit cost during 2015 are as follows:



	Qualified Defined Benefits				Non-Qualified Supplemental Benefits		Post-Retirement Benefits
	U.S. Plan		Non-U.S. Plans		Non-Qualified Supplemental Benefits		Post-Retirement Benefits
Amortization of:
Prior service cost (credit)	$	976	$	95	$	6,927	$	(372	)
Recognized actuarial loss (gain)	12,846		2,784		286		(30		)
Transition obligation	—		5		—		—
Total	$	13,822	$	2,884	$	7,213	$	(402	)

Weighted-average assumptions used in benefit obligations [Table Text Block]

The weighted-average assumptions used in determining the benefit obligations were as follows:



	Qualified Defined Benefits								Non-Qualified Supplemental Benefits				Post-Retirement Benefits
	U.S. Plan				Non-U.S. Plans				Non-Qualified Supplemental Benefits				Post-Retirement Benefits
	2014		2013		2014		2013		2014		2013		2014		2013
Discount rate	4.05	%	4.90	%	2.31	%	3.53	%	3.96	%	4.77	%	3.75	%	4.45	%
Average wage increase	4.00	%	4.00	%	2.50	%	2.86	%	4.50	%	4.50	%	na		na
Ultimate medical trend rate	na		na		na		na		na		na		5.00	%	5.00	%

Weighted-average assumptions used calculating net periodic cost [Table Text Block]

The weighted average assumptions used in determining the net periodic cost were as follows:



	Qualified Defined Benefits												Non- Qualified Supplemental Benefits						Post-Retirement Benefits
	U.S. Plan						Non-U.S. Plans						Non- Qualified Supplemental Benefits						Post-Retirement Benefits
	2014		2013		2012		2014		2013		2012		2014		2013		2012		2014		2013		2012
Discount rate	4.90	%	4.05	%	4.85	%	3.53	%	3.31	%	4.62	%	4.77	%	4.02	%	4.77	%	4.45	%	3.65	%	3.65	%
Average wage increase	4.00	%	4.00	%	4.00	%	2.86	%	2.74	%	3.14	%	4.50	%	4.50	%	4.50	%	na		na		na
Expected return on plan assets	7.75	%	7.75	%	7.75	%	5.35	%	5.32	%	5.90	%	na		na		na		na		na		na

Weighted-average asset allocation actual and target [Table Text Block]

The Company’s actual and target weighted-average asset allocation for our U.S. Corporate Pension Plan was as follows:



	2014		2013		Current Target
Equity securities	55	%	64	%	58	%
Fixed income	36	%	29	%	35	%
Real estate and other	9	%	7	%	7	%
Total	100	%	100	%	100	%

Schedule of Allocation of Plan Assets [Table Text Block]

The fair values of both U.S. and non-U.S. pension plan assets by asset category within the ASC 820 hierarchy (as defined in Note 11 Financial Instruments) are as follows at December 31, 2014 and 2013:



	U.S. Plan
	December 31, 2014								December 31, 2013
	Level 1		Level 2		Level 3		Total Fair Value		Level 1		Level 2		Level 3		Total Fair Value
Asset category:
Common stocks:
U.S. companies	$	164,006	$	—	$	—	$	164,006	$	180,038	$	—	$	—	$	180,038
Non-U.S. companies	3,874		—		—		3,874		5,526		—		—		5,526
Fixed income investments:
Corporate bonds	—		63,878		—		63,878		—		53,924		—		53,924
Private placements	—		6,865		—		6,865		—		3,374		—		3,374
Government securities	48,370		98,998		—		147,368		25,035		87,107		—		112,142
Common stock funds:
Mutual funds	44,610		—		—		44,610		59,387		—		—		59,387
Collective trusts	—		119,312		—		119,312		—		138,236		—		138,236
Real estate funds	—		37,145		—		37,145		—		33,749		—		33,749
Cash and equivalents	14,318		—		—		14,318		8,767		—		—		8,767
	$	275,178	$	326,198	$	—	$	601,376	$	278,753	$	316,390	$	—	$	595,143



	Non-U.S. Plans
	December 31, 2014								December 31, 2013
	Level 1		Level 2		Level 3		Total Fair Value		Level 1		Level 2		Level 3		Total Fair Value
Asset category:
Common stocks	$	40,960	$	—	$	—	$	40,960	$	35,010	$	—	$	—	$	35,010
Fixed income investments	—		59,791		—		59,791		—		75,574		—		75,574
Common stock funds	—		43,821		—		43,821		—		66,285		—		66,285
Real estate funds	—		—		9,976		9,976		—		—		14,937		14,937
Cash and equivalents	1,531		—		—		1,531		6,785		—		—		6,785
Other	—		7,431		—		7,431		—		5,090		—		5,090
	$	42,491	$	111,043	$	9,976	$	163,510	$	41,795	$	146,949	$	14,937	$	203,681

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]

The fair value measurement of plan assets using significant unobservable inputs (Level 3) changed during 2013 and 2014 due to the following:



	Real estate funds			Other			Total
Balance at December 31, 2012	$	10,116		$	1,456		$	11,572
Actual return on plan assets:
Relating to assets still held at December 31, 2013	2,958			—			2,958
Purchases	1,863			—			1,863
Sales	—			(1,456		)	(1,456		)
Balance at December 31, 2013	14,937			—			14,937
Actual return on plan assets:
Relating to assets still held at December 31, 2014	(4,527		)	—			(4,527		)
Business dispositions	(362		)	—			(362		)
Sales	(72		)	—			(72		)
Balance at December 31, 2014	$	9,976		$	—		$	9,976

Schedule of Expected Benefit Payments [Table Text Block]

Benefit Payments

Estimated future benefit payments to retirees, which reflect expected future service, are as follows:



	Qualified Defined Benefits				Non-Qualified Supplemental Benefits		Post-Retirement Benefits
	U.S. Plan		Non-U.S. Plans		Non-Qualified Supplemental Benefits		Post-Retirement Benefits
2015	$	35,312	$	6,295	$	22,412	$	926
2016	36,702		6,841		7,968		940
2017	38,784		6,889		3,986		951
2018	40,120		7,196		5,206		959
2019	40,892		7,139		11,282		946
2020 - 2024	221,358		42,775		55,417		4,647