10-Q Filing

KNOWLES CORP CIK: 1587523 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001587523-15-000011`
Period End Date	20150331
Filing Date	20150506
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	kn-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 36 Cash Flow Statement 58 Stockholders Equity 9 Comprehensive Income 18

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$105.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$51.40M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$800.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$55.20M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$800.00K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Receivables, net of allowances of $0.8 and $0.8	`AccountsReceivableNetCurrent`	$207.40M	USD	Point-in-time
Receivables, net of allowances of $0.8 and $0.8	`AccountsReceivableNetCurrent`	$236.30M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$162.00M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$170.10M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.70M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.70M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$9.80M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$11.30M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$438.10M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$474.00M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	85.06M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$303.30M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	85.11M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$315.90M	USD	Point-in-time
Goodwill	`Goodwill`	$880.00M	USD	Point-in-time
Goodwill	`Goodwill`	$914.70M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$248.90M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$270.30M	USD	Point-in-time
Other assets and deferred charges	`OtherAssetsNoncurrent`	$24.00M	USD	Point-in-time
Other assets and deferred charges	`OtherAssetsNoncurrent`	$23.60M	USD	Point-in-time
Total assets	`Assets`	$2.00B	USD	Point-in-time
Total assets	`Assets`	$1.89B	USD	Point-in-time
Current maturities of long-term debt	`DebtCurrent`	$18.80M	USD	Point-in-time
Current maturities of long-term debt	`DebtCurrent`	$15.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$157.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$172.10M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$28.10M	USD	Point-in-time
Accrued compensation and employee benefits	`EmployeeRelatedLiabilitiesCurrent`	$38.70M	USD	Point-in-time
Other accrued expenses	`OtherLiabilitiesCurrent`	$44.10M	USD	Point-in-time
Other accrued expenses	`OtherLiabilitiesCurrent`	$48.80M	USD	Point-in-time
Federal and other taxes on income	`AccruedIncomeTaxesCurrent`	$15.10M	USD	Point-in-time
Federal and other taxes on income	`AccruedIncomeTaxesCurrent`	$14.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$263.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$288.60M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$385.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$377.50M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$49.20M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$44.20M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$38.20M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$39.50M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock - $0.01 par value; 10,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock - $0.01 par value; 10,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock - $0.01 par value; 400,000,000 shares authorized; 85,111,493 and 85,061,449 shares issued at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$900.00K	USD	Point-in-time
Common stock - $0.01 par value; 400,000,000 shares authorized; 85,111,493 and 85,061,449 shares issued at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$900.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.38B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.37B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-84.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-99.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-105.30M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$27.30M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$36.50M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-53.30M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.17B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.24B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.89B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.00B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$238.60M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$273.40M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$185.40M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$190.30M	USD	1 Quarter
Restructuring charges - cost of goods sold	`CostofGoodsSoldRestructuringCharges`	-	USD	1 Quarter
Restructuring charges - cost of goods sold	`CostofGoodsSoldRestructuringCharges`	$-600.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$53.80M	USD	1 Quarter
Gross profit	`GrossProfit`	$83.10M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$19.20M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$19.60M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$52.50M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$45.70M	USD	1 Quarter
Restructuring charges	`RestructuringCharges`	$300.00K	USD	1 Quarter
Restructuring charges	`RestructuringCharges`	$200.00K	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$71.90M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$65.60M	USD	1 Quarter
Operating (loss) earnings	`OperatingIncomeLoss`	$11.20M	USD	1 Quarter
Operating (loss) earnings	`OperatingIncomeLoss`	$-11.80M	USD	1 Quarter
Interest expense	`InterestRevenueExpenseNet`	$-2.40M	USD	1 Quarter
Interest expense	`InterestRevenueExpenseNet`	$-700.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-400.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$1.90M	USD	1 Quarter
(Loss) earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-12.30M	USD	1 Quarter
(Loss) earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.10M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.50M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.50M	USD	1 Quarter
Net (loss) earnings	`NetIncomeLoss`	$-15.80M	USD	1 Quarter
Net (loss) earnings	`NetIncomeLoss`	$7.60M	USD	1 Quarter
Basic (loss) earnings per share (usd per share)	`EarningsPerShareBasic`	$-0.19	USD	1 Quarter
Basic (loss) earnings per share (usd per share)	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Diluted (loss) earnings per share (usd per share)	`EarningsPerShareDiluted`	$0.09	USD	1 Quarter
Diluted (loss) earnings per share (usd per share)	`EarningsPerShareDiluted`	$-0.19	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	85.11M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	85.02M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	85.13M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	85.11M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-15.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$7.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$33.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$32.50M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.50M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.00M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$700.00K	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-2.40M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-25.20M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-34.50M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$6.00M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$10.10M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.20M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$200.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.70M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.40M	USD	1 Quarter
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-14.40M	USD	1 Quarter
Accrued compensation and employee benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-10.00M	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-4.10M	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.80M	USD	1 Quarter
Accrued and deferred taxes, net	`IncreaseDecreaseAccruedTaxesNet`	$-2.20M	USD	1 Quarter
Accrued and deferred taxes, net	`IncreaseDecreaseAccruedTaxesNet`	$-1.00M	USD	1 Quarter
Other non-current assets and non-current liabilities	`IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet`	$100.00K	USD	1 Quarter
Other non-current assets and non-current liabilities	`IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet`	$1.40M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$6.80M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$43.20M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.90M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.70M	USD	1 Quarter
Capitalized patent defense costs	`CapitalizedPatentDefenseCostsInvestingActivities`	$4.40M	USD	1 Quarter
Capitalized patent defense costs	`CapitalizedPatentDefenseCostsInvestingActivities`	$600.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-18.30M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-28.30M	USD	1 Quarter
Repayment of debt	`RepaymentsOfLongTermDebt`	$3.80M	USD	1 Quarter
Repayment of debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Proceeds from debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from debt	`ProceedsFromIssuanceOfLongTermDebt`	$400.00M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$2.90M	USD	1 Quarter
Payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$400.00K	USD	1 Quarter
Payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	-	USD	1 Quarter
Payments for employee tax obligations upon vesting of stock-based awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$400.00K	USD	1 Quarter
Payments for employee tax obligations upon vesting of stock-based awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Net transfers to Former Parent Company	`NettransfersToFromFormerParentCompany`	-	USD	1 Quarter
Net transfers to Former Parent Company	`NettransfersToFromFormerParentCompany`	$465.90M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-68.80M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-4.60M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-300.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-500.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-54.20M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-16.60M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$105.60M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$51.40M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$38.60M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$55.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$105.60M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$51.40M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$38.60M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$55.20M	USD	Point-in-time

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$1.17B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.24B	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-15.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$7.60M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-52.00M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.00M	USD	1 Quarter
Employee taxes related to vesting of stock-based awards	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$-400.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$1.17B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.24B	USD	Point-in-time

Comprehensive Income 18 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-15.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$7.60M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-51.40M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.60M	USD	1 Quarter
Actuarial losses arising during period	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Actuarial losses arising during period	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax`	$-100.00K	USD	1 Quarter
Amortization or settlement of actuarial losses included in net periodic pension cost	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	-	USD	1 Quarter
Amortization or settlement of actuarial losses included in net periodic pension cost	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-100.00K	USD	1 Quarter
Net change in employee benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$100.00K	USD	1 Quarter
Net change in employee benefit plans	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-100.00K	USD	1 Quarter
Unrealized net losses arising during period	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Unrealized net losses arising during period	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-700.00K	USD	1 Quarter
Total cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	-	USD	1 Quarter
Total cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-700.00K	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-52.00M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-1.70M	USD	1 Quarter
Comprehensive (loss) earnings	`ComprehensiveIncomeNetOfTax`	$5.90M	USD	1 Quarter
Comprehensive (loss) earnings	`ComprehensiveIncomeNetOfTax`	$-67.80M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.