Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2015

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, 2015 and 2014.



	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			2014			2015			2014			2015			2014			2015			2014
Change in benefit obligation:
Benefit obligation at beginning of year	$	575,576		$	519,552		$	265,023		$	299,284		$	137,999		$	133,056		$	13,943		$	14,136
Benefits earned during the year	15,661			13,801			6,613			6,027			3,739			3,320			163			249
Interest cost	23,163			25,204			5,885			8,222			5,063			6,148			512			627
Plan participants' contributions	—			—			1,555			1,732			—			—			417			476
Benefits paid	(51,126		)	(17,957		)	(8,399		)	(5,452		)	(12,845		)	(13,939		)	(1,148		)	(1,222		)
Actuarial (gain) loss	(33,199		)	84,314			(5,018		)	40,962			(8,645		)	11,088			(785		)	(556		)
Business dispositions	—			—			(106		)	(60,164		)	—			(3,137		)	—			—
Amendments	—			—			(5,063		)	—			—			1,463			(1,049		)	—
Settlements and curtailments	(2,942		)	(49,338		)	(2,753		)	(390		)	—			—			(1,168		)	—
Currency translation and other	534			—			(11,751		)	(25,198		)	—			—			—			233
Benefit obligation at end of year	527,667			575,576			245,986			265,023			125,311			137,999			10,885			13,943
Change in plan assets:
Fair value of plan assets at beginning of year	601,376			595,143			163,510			203,681			—			—			—			—
Actual return on plan assets	2,567			73,528			2,369			14,868			—			—			—			—
Company contributions	—			—			8,366			9,547			12,845			13,939			731			746
Plan participants' contributions	—			—			1,555			1,732			—			—			417			476
Benefits paid	(51,126		)	(17,957		)	(8,399		)	(5,452		)	(12,845		)	(13,939		)	(1,148		)	(1,222		)
Business dispositions	—			—			—			(46,334		)	—			—			—			—
Settlements and curtailments	—			(49,338		)	(2,753		)	(390		)	—			—			—			—
Currency translation	—			—			(5,212		)	(14,142		)	—			—			—			—
Fair value of plan assets at end of year	552,817			601,376			159,436			163,510			—			—			—			—
Funded status	$	25,150		$	25,800		$	(86,550	)	$	(101,513	)	$	(125,311	)	$	(137,999	)	$	(10,885	)	$	(13,943	)

Amounts recognized in the balance sheets consist of:
Assets and Liabilities:
Other assets and deferred charges	$	25,150		$	25,800		$	2,064		$	152		$	—		$	—		$	—		$	—
Accrued compensation and employee benefits	—			—			(1,433		)	(1,575		)	(27,361		)	(21,978		)	(921		)	(926		)
Other liabilities (deferred compensation)	—			—			(87,181		)	(100,090		)	(97,950		)	(116,021		)	(9,964		)	(13,017		)
Total Assets and Liabilities	$	25,150		$	25,800		$	(86,550	)	$	(101,513	)	$	(125,311	)	$	(137,999	)	$	(10,885	)	$	(13,943	)

Accumulated Other Comprehensive Loss (Earnings):
Net actuarial losses (gains)	$	110,163		$	119,919		$	59,953		$	61,813		$	(9,678	)	$	(746	)	$	(1,347	)	$	192
Prior service cost (credit)	2,215			3,388			(4,095		)	1,058			24,454			31,381			(999		)	(615		)
Net asset at transition, other	—			—			(52		)	(48		)	—			—			—			—
Deferred taxes	(39,333		)	(43,158		)	(13,569		)	(15,312		)	(5,173		)	(10,725		)	762			90
Total Accumulated Other Comprehensive Loss (Earnings), net of tax	73,045			80,149			42,237			47,511			9,603			19,910			(1,584		)	(333		)
Net amount recognized at December 31,	$	98,195		$	105,949		$	(44,313	)	$	(54,002	)	$	(115,708	)	$	(118,089	)	$	(12,469	)	$	(14,276	)

Accumulated benefit obligations	$	498,899		$	537,393		$	232,924		$	246,814		$	114,817		$	123,229

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, 2015 and 2014:



	2015		2014
Projected benefit obligation (PBO)	$	333,994	$	372,931
Accumulated benefit obligation (ABO)	311,300		342,158
Fair value of plan assets	120,069		133,930

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
	2015			2014			2013			2015			2014			2013			2015		2014			2013
Service cost	$	15,661		$	13,801		$	17,123		$	6,613		$	6,027		$	6,043		$	3,739	$	3,320		$	5,634
Interest cost	23,163			25,204			24,801			5,885			8,222			9,081			5,063		6,148			6,741
Expected return on plan assets	(41,571		)	(41,594		)	(40,194		)	(7,990		)	(8,498		)	(9,608		)	—		—			—
Amortization of:
Prior service cost	897			1,083			1,026			89			107			114			6,927		7,775			8,110
Recognized actuarial loss (gain)	12,620			8,289			17,654			2,647			903			1,492			286		(428		)	(16		)
Transition obligation	—			—			—			4			4			(14		)	—		—			—
Settlement & curtailment loss (gain) ⁽²⁾	810			10,279			187			(184		)	(45		)	697			—		—			(4,411		)
Other	—			—			501			—			6			5			—		—			13
Total net periodic benefit cost	$	11,580		$	17,062		$	21,098		$	7,064		$	6,726		$	7,810		$	16,015	$	16,815		$	16,071


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

(2)

One-time charges of $810 reflected in U.S. Plan pension expense for 2015 represents curtailments, special termination benefits, and settlements for certain businesses sold during the year; therefore, this amount has been reflected in the results of discontinued operations. $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



	2015			2014			2013
Service cost	$	163		$	249		$	234
Interest cost	512			627			523
Amortization of:
Prior service credit	(372		)	(409		)	(416		)
Recognized actuarial (gain) loss	(30		)	54			134
Other ⁽³⁾	(679		)	233			77
Total net periodic (benefit) cost	$	(406	)	$	754		$	552


(3)	One-time benefit of $679 relates to the shutdown of certain plant locations, as well as changes to future benefits for certain retirees.

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 2016 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)	$	733	$	(400	)	$	6,266		$	(143	)
Recognized actuarial loss (gain)	6,437		2,673			(560		)	(236		)
Transition obligation	—		4			—			—
Total	$	7,170	$	2,277		$	5,706		$	(379	)

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
	2015		2014		2015		2014		2015		2014		2015		2014
Discount rate	4.40	%	4.05	%	2.32	%	2.31	%	3.90	%	3.96	%	4.00	%	3.75	%
Average wage increase	4.00	%	4.00	%	2.25	%	2.50	%	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
	2015		2014		2013		2015		2014		2013		2015		2014		2013		2015		2014		2013
Discount rate	4.05	%	4.90	%	4.05	%	2.31	%	3.53	%	3.31	%	3.96	%	4.77	%	4.02	%	3.75	%	4.45	%	3.65	%
Average wage increase	4.00	%	4.00	%	4.00	%	2.50	%	2.86	%	2.74	%	4.50	%	4.50	%	4.50	%	na		na		na
Expected return on plan assets	7.75	%	7.75	%	7.75	%	4.85	%	5.35	%	5.32	%	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:



	2015		2014		Current Target
Equity securities	57	%	55	%	58	%
Fixed income	33	%	36	%	35	%
Real estate and other	10	%	9	%	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 fair value hierarchy (as defined in Note 10 Financial Instruments) are as follows at December 31, 2015 and 2014:



	U.S. Plan
	December 31, 2015						December 31, 2014
	Level 1		Level 2		Total Fair Value		Level 1		Level 2		Total Fair Value
Asset category:
Common stocks:
U.S. companies	$	150,821	$	—	$	150,821	$	164,006	$	—	$	164,006
Non-U.S. companies	6,975		—		6,975		3,874		—		3,874
Fixed income investments:
Corporate bonds	—		55,509		55,509		—		63,878		63,878
Private placements	—		4,455		4,455		—		6,865		6,865
Government securities	47,426		74,953		122,379		48,370		98,998		147,368
Common stock funds:
Mutual funds	39,159		—		39,159		44,610		—		44,610
Collective trusts	—		118,299		118,299		—		119,312		119,312
Real estate funds	—		42,391		42,391		—		37,145		37,145
Cash and equivalents	12,829		—		12,829		14,318		—		14,318
	$	257,210	$	295,607	$	552,817	$	275,178	$	326,198	$	601,376

The Company had no level 3 U.S. Plan assets at December 31, 2015 and 2014.



	Non-U.S. Plans
	December 31, 2015								December 31, 2014
	Level 1		Level 2		Level 3		Total Fair Value		Level 1		Level 2		Level 3		Total Fair Value
Asset category:
Common stocks	$	23,113	$	—	$	—	$	23,113	$	40,960	$	—	$	—	$	40,960
Fixed income investments	—		48,523		—		48,523		—		59,791		—		59,791
Common stock funds	—		45,058		—		45,058		—		43,821		—		43,821
Collective funds	—		23,978		—		23,978		—		—		—		—
Real estate funds	—		—		8,904		8,904		—		—		9,976		9,976
Cash and equivalents	829		—		—		829		1,531		—		—		1,531
Other	—		9,031		—		9,031		—		7,431		—		7,431
	$	23,942	$	126,590	$	8,904	$	159,436	$	42,491	$	111,043	$	9,976	$	163,510

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 2014 and 2015 due to the following:



	Real estate funds
Balance at December 31, 2013	$	14,937
Actual return on plan assets:
Relating to assets still held at December 31, 2014	(4,527		)
Business dispositions	(362		)
Sales	(72		)
Balance at December 31, 2014	9,976
Actual return on plan assets:
Relating to assets still held at December 31, 2015	116
Purchases	5,629
Sales	(6,817		)
Balance at December 31, 2015	$	8,904

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
2016	$	33,053	$	6,392	$	27,949	$	939
2017	34,776		6,546		12,358		915
2018	37,162		6,836		11,656		891
2019	37,574		6,959		13,596		852
2020	40,574		7,176		11,728		829
2021 - 2025	206,540		42,376		66,083		3,708