1© 2018 Knoll Inc.
Andrew Cogan, President & CEO
Charles Rayfield, SVP & CFO
Knoll, Inc.
First Quarter 2018 Investor Presentation
Fiber Side Chair, Base Table and Unfold Pendants
Exhibit 99.1
2© 2018 Knoll Inc.
Forward-Looking Statements/Non-GAAP Measures
This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding Knoll, Inc.’s
expected future financial position, results of operations, revenue and profit levels, cash flows, business strategy, budgets,
projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of
management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," “goals,"
"estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. This
includes, without limitation, our statements and expectations regarding any current or future recovery in our industry, and our
expectations with respect to leverage. Such forward-looking statements are inherently uncertain, and readers must recognize
that actual results may differ materially from the expectations of Knoll management. Knoll does not undertake a duty to update
such forward-looking statements. Factors that may cause actual results to differ materially from those in the forward-looking
statements include corporate spending and service-sector employment, price competition, acceptance of Knoll’s new products,
the pricing and availability of raw materials and components, foreign exchange rates, transportation costs, demand for high
quality, well designed furniture and coverings solutions, changes in the competitive marketplace, changes in trends in the
market for furniture or coverings, the financial strength and stability of our suppliers, customers and dealers, access to capital,
our success in designing and implementing our new enterprise resource planning system, our ability to successfully integrate
acquired businesses, and other risks identified in Knoll’s Annual Report on Form 10-K, and other filings with the Securities and
Exchange Commission, as well as other cautionary statements that are made from time-to-time in Knoll’s public
communications. Many of these factors are outside of Knoll’s control.
This presentation also includes certain non-GAAP financial measures. A “non-GAAP financial measure” is a numerical
measure of a company’s financial performance that excludes or includes amounts so as to be different than the most directly
comparable measure calculated and presented in accordance with U.S. generally accepted accounting principles (“GAAP”).
We present Non-GAAP measures because we consider them to be important supplemental measures of our performance and
believe them to be useful to display ongoing results from operations distinct from items that are infrequent or not indicative of
our operating performance. We have provided reconciliations of these non-GAAP financial measures to the most directly
comparable GAAP measure in the presentation below.
These non-GAAP measures are not indicators of our financial performance under GAAP and should not be considered as an
alternative to the applicable GAAP measure. These non-GAAP measures have limitations as analytical tools, and you should
not consider them in isolation or as a substitute for analysis of our results as reported under GAAP. Our presentation of these
non-GAAP measures should not be construed as an inference that our future results will be unaffected by unusual or infrequent
items.
Knoll is:
A constellation of design-driven
brands and people, working
together with our clients to
create inspired modern
interiors.
4© 2018 Knoll Inc.
801938 2018
Knoll’s reputation for iconic design, leadership, quality and
innovation in both the workplace and residential markets
is recognized globally
5© 2018 Knoll Inc.
› Target underpenetrated and
emerging ancillary categories
and markets for growth
› Expand our reach into
residential and decorator
channels around the world
› Maximize office segment
profitability and growth
› Leverage technology to expand
our market visibility and
improve our efficiency
Four strategic imperatives drive our strategy
6© 2018 Knoll Inc.
$73B Global Commercial Market
• $8B luxury
• $11B affordable luxury
~$18.5B North American Market
$266B Global Residential Market
• $9B luxury
• $17B affordable luxury
• Changing work style
• Resimercial aesthetic
• Global capability
• Favorable demographics
• High margin opportunities
• Fragmented competitors
Luxury
Accessible
Affordable luxury
Commercial Residential
- Residential product
- Hybrid product
- Commercial product
Sources: Based on Knoll, Inc. and BIFMA estimates
Knoll Office
KnollExtra
Muuto
KnollStudio
KnollTextiles
Spinneybeck
FilzFelt
DatesWeiser
Edelman
HOLLY HUNT
Knoll brands span commercial and residential applications
with high design opportunities, and are heavily influenced
by architect and designer specifiers
7© 2018 Knoll Inc.
We have a singular line-up of brands and offerings from
high-performance workplace to “resimericial” ancillary…
Knoll Office
DatesWeiser KnollStudio Muuto Ancillary Offering
8© 2018 Knoll Inc.
…and from uber-luxury living spaces to affordable luxury
for the home
HOLLY HUNT | Vladimir Kagan KnollStudio LA Home Design Shop
Muuto
9© 2018 Knoll Inc.
Office Lifestyle
60%
40% 39%61%
2017
Net Sales
2017
Adjusted EBITDA
Note: Adjusted EBITDA excludes unallocated corporate expenses and non-cash charges totaling ($6.9M) in 2017, see page 29.
As previously discussed on our earnings call in February 2018, effective Q1 2018, we will be modifying our segment structure to consist of Office and
Lifestyle.
85%
15%
2017
Net Sales by
Geography
Note: Figures include acquisition of Muuto. For a reconciliation of the Muuto results, see page 29.
Through both organic product development and M&A we
have increased the mix of our sales and profits outside of
Office and North America
Office Lifestyle
N. America Rest of World
10© 2018 Knoll Inc.
As Office clients rethink their priorities, we see a major
inflection point in workplace design, creating new
challenges and opportunities for Knoll
Individual
Formal
Fixed
Dedicated
One Size Fits All
Group
Casual
Mobile / Adjustable
Shared
Competition for Talent
Residential aestheticCorporate / commercial aesthetic
Small to mid size projects$1M+ projects
Client Space AllocationPrimary Activity
Primary
Activity
11© 2018 Knoll Inc.
Solving ancillary is critical for maintaining our position as
a market leader and fueling growth
±90% ±10%
2015 Knoll Dealers
workplace
Estimated share of wallet1
±7% ±1%
2016 Industry ~$18.3B3
Estimated Market share2
workplace
2 ±4% combined market share, Knoll Estimate
3 Preliminary BIFMA 2016 estimate
Workstations
(Primary Spaces)
Ancillary
(Activity)
Workstations
(Primary Spaces)
Ancillary
(Activity)
1 ±50% combined share of wallet based on major project
review and reported Dealer value
12© 2018 Knoll Inc.
Ancillary Case Study: Tech Company, Colorado
Within Knoll Dealer Scope
60%
Primary Spaces
40%
Shared Spaces
80%
Knoll
64%
Knoll
73% Share of Wallet
within Knoll dealer scope
13© 2018 Knoll Inc.
With the acquisition of Muuto, Knoll brands now span the
workplace market
Note: Brand positions are directional. 1. BIFMA estimates the 2016 NA contract furniture industry at approximately $18.5B. Included in this estimate is approximately $2.5B related to
BIFMA Specialty (non-office products) which Knoll has excluded from the above analysis. Furthermore, approximately $1B of residential furniture sold into the workplace market (Knoll
Estimate) has been added to the above analysis. 2. Knoll estimates even split of ancillary versus workstation market share of total workplace furniture market.
Residential (~$1B)
• Limited durability &
warranty in
commercial setting
• Payment at order
Crossover
• Residential/hospitality
sensibility; appropriate for
commercial use
• ±5 yrs warranty
Contract
• Aesthetic & function specific to workplace setting
• 10+ years durability and warranty
Luxury
Cheap
Affordable luxury
Workstations ≤$8.5B1,2Ancillary ≥$8.5B1,2
DatesWeiser
Knoll Office
Muuto
WORKPLACE FURNITURE MARKET SEGMENTATION
Accessible
HOLLY HUNT
KnollStudio
14© 2018 Knoll Inc.
Muuto Expansion Strategy
We plan to more than double the size of Muuto over the next 3-5 years
• North America: Massive upside to
~$15M sales today by leveraging Knoll
client base, architect and designer
relationships, and contract and
residential distributors
• Proven market acceptance in NA
with key co-working and residential
retailers
• Europe: Introduce Muuto to Knoll
residential distribution and corporate
clients
• Product: Scale product scope
Muuto
2017F:
$75M Sales
$21M EBITDA
1
2
3
Sales & EBITDA growth >2X
1
2
3
15© 2018 Knoll Inc.
It’s about more than just product – sales alignment matters
16© 2018 Knoll Inc.
In the back half of 2017 sales of newer workplace
platforms eclipsed those of legacy systems and storage
17© 2018 Knoll Inc.
25
30
35
40
45
50
55
60
2013 2014 2015 2016 2017
Millio
ns 30
40
50
60
70
80
2013 2014 2015 2016 2017(20.00)%
(15.00)%
(10.00)%
(5.00)%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
2013 2014 2015 2016 2017
Source: Chief Executive Magazine
Corporate Profits still strong
% Change from Prior Quarter CEO Confidence positive
CEO Confidence Index
Architectural Billings down slightly
ABI Billing Index
Source: American Institute of Architects
Source: Bureau of Economic Analysis as of Q3 2017
Net absorption trending down slightly
Annual Net Absorption (sf)
ed
40
45
50
55
60
2013 2014 15 2016 2017
Industry indicators suggest growth should accelerate
Source: JLL
18© 2018 Knoll Inc.
New year, exciting new products and capabilities
19© 2018 Knoll Inc.
Investment Rationale
› Improving macro environment with
decreasing headwind from legacy
products helping drive sales
› Lean opportunities to drive
Office margins higher
› Strong track record of successful
acquisitions; Muuto expected to be
immediately accretive to both
margins and EPS
› Significant benefit from lower
tax rates for both clients and
Knoll
› Driven and motivated
management team aligned
with shareholder objectives
20© 2018 Knoll Inc.
$372
$412
$446
$415
35.4% 37.3% 38.3% 36.6%
2014 2015 2016 2017
$114
$143
$169
$145
10.9% 13.0% 14.5% 12.8%
2014 2015 2016 2017
$1.09
$1.52
$1.68
$1.38
2014 2015 2016 2017
$1,050
$1,104
$1,164
$1,133
2014 2015 2016 2017
Gross Profit ($ Millions) and %
Adjusted EBITDA ($ Millions) and % Adjusted Earnings Per Share - Diluted
Sales Growth YoY – ($ Millions)
+8% +12%
+26%
+27%
Note: Adjusted EBITDA and Percentage, and Adjusted EPS are non-GAAP financial measures. For a reconciliation of Net Earnings to Adjusted EBITDA and
Percentage and Adjusted EPS to GAAP EPS, see page 33.
2017 was a pause in the longer term journey to continue
to grow sales, margins and profits
21© 2018 Knoll Inc.
Note: Adjusted Operating Expenses, Adjusted Operating Profit and Percentage, Adjusted EBITDA and Percentage, and Adjusted EPS are non-GAAP financial
measures. For a reconciliation of Adjusted Operating Expenses to GAAP Operating Expenses and Adjusted Operating Profit and Percentage to GAAP Operating Profit
and Percentage, see page 30, Net Earnings to Adjusted EBITDA and Percentage and EPS to Adjusted Diluted EPS, see page 32.
Tale of two halves: weak demand in the first 2 quarters
of 2017, while initiatives to grow sales gained traction
in the back half of the year
Q1
1H-17 2H-17
Net Sales 525.5$ 607.4$ 81.9$ 15.6%
Gross Profit 195.6$ 218.9$ 23.3 11.9 %
Gross Margin % 37.2% 36.0%
Adjusted Operating Expenses 148.2 157.2 (9.0) (6.1)%
Adjusted Operating Profit 47.4$ 61.7$ 14.3 30.2%
Adjusted Operating Profit % 9.0% 10.2%
Adjusted EBITDA 64.6$ 80.0$ 15.4 23.9%
Adjusted EBITDA % 12.3% 13.2%
Adjusted Diluted EPS $0.60 $0.78 0.18$ 30.0%
120 bps
90 bps
B / (W)
vs. 1H
(120) bps
22© 2018 Knoll Inc.
Efficiency improvement activities continue to offset
inflationary pressure; however, the industry is fighting
several headwind factors
› Volume in Q1 and Q2 2017 had a significant impact on the 2017 gross margin pull-through
› Continuous improvement activities were steady during 2017, and largely offset inflationary pressure
› Pricing was generally up for the majority of 2017 due to a list price increase earlier in the year, but pricing
pressure intensified in the 4th quarter
85.0%
90.0%
95.0%
100.0%
105.0%
110.0%
Q4 16 Q1 17 Q2 17 Q3 17 Q4 17
Knoll, Inc.
Net Price Exchange Impacts Continuous Improvement Volume/Mix Inflation Total
Price
Volume
CI
Total
Fx
Inflation
23© 2018 Knoll Inc.
“Less is More” Bringing Lean to Knoll
We are implementing a culture of continuous improvement Lean across Knoll
› Driving out waste and inefficiency
› Engaging our manufacturing associates
› Process and productivity improvement
Waste and Landfill
Recycled Content
Safety Incident Rate
Lean Initiatives
24© 2018 Knoll Inc.
2.5%
3.5%
4.5%
5.5%
6.5%
7.5%
8.5%
9.5%
10.5%
11.5%
12.5%
13.5%
Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17
Knoll MLHR SCS HNI
2 .0
27.5%
30.0%
32.5%
35.0%
37.5%
40.0%
Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17
Knoll MLHR SCS HNI
Knoll, Inc. and Competitor Margin Trends
While margins across the industry have been
pressured by market headwinds in commodities
pricing, foreign currency impacts and net price
realization, continuous improvement activities and
price increases have largely offset these pressures
Despite the gross margin pressures, Knoll
continues to manage operating margins above its
peers
Note: Competitor gross margin and adjusted operating margin data was derived from publicly filed information. The calculation of adjusted operating margin
percentage may be done differently by each of these companies and may not be directly comparable. For a reconciliation of Knoll adjusted operating margins
and percentages to GAAP operating margins and percentages, see page 31.
Adjusted Operating Margin %
Gross Margin %
25© 2018 Knoll Inc.
(6.6)% (37.0)%
Net Sales (millions) Adjusted Operating Profit* (millions)
- Volume
- Inflation
+ Operating Expenses
+ Volume (HH, DW, EUR)
- OpEx (DW, HH & Europe)
- FX (Europe)
- Mix
- Operating Expenses
(330) bps (150) bps (110) bps
+5.4%
(0.5)%
(4.3)%
(5.1)%
Note: Adjusted Operating Profit and Percentage are non-GAAP financial measures. For a reconciliation of Adjusted Operating Profit and Percentage to GAAP
Operating Profit and Percentage, see page 29.
$731
$683
$323 $341
$110 $109
2016 2017 2016 2017 2016 2017
OFFICE STUDIO COVERINGS
- Textiles – decline in
large projects
- Edelman - hospitality
+ Spinneybeck –
architectural applications
12.4% 9.8% 18.7% 17.5% 25.4% 23.0%
Knoll, Inc.
2017 Results by Segment vs. Prior Year
($ in millions)
- Government &
Commercial Sales
+ New Platforms &
Complementary
Products
+ Holly Hunt – Outdoor
line & Kagan
+ DatesWeiser
+ Europe – Residential &
Contract
- NA Studio – Residential
& Contract
$74
$47
$53
$51
$26 $25
0 6 2017 2016 2017 2016 2017
OFFICE STUDIO COVERINGS
10.1% 6.8% 16.5% 15.0% 23.7% 22.6%
* Excluding unallocated corporate expenses of $16.9M in 2016 and $13.1M in 2017
26© 2018 Knoll Inc.
2.23
3.21
2.41
1.67
1.37 1.37
2013 Q1-2014 2014 2015 2016 2017
$179
$290
$276
$239 $232
$197
2013 Q1-2014 2014 2015 2016 2017
Historical trends demonstrate our ability to reduce overall
leverage
(2) Includes outstanding letters of credit and guarantee obligations. (1) Bank Net Leverage Ratio is calculated by dividing (i) outstanding
debt minus excess cash over $15.0 million by (ii) EBITDA (as defined in
our credit facility) for the LTM, see page 31.
Bank Debt ($ in millions)(2)Bank Net Leverage Ratio(1)
› $750M facility, with ability to expand up to $650M with accordion and unsecured debt
› $400M revolver
› $250M US-based Term Loan A
› €82M Euro-based Term Loan A
› Executed a $300M, 1 year forward swap contract on LIBOR based debt
› Fixed LIBOR rate of 2.63% beginning Jan 1, 2019
› Hedged amount amortizes by $50M each calendar year
27© 2018 Knoll Inc.
$9.0 $8.7
$5.5
$10.9
$22.7
$24.4
$29.2
$30.3
2014 2015 2016 2017
($ mil
li
o
ns)
Dividends
Shares Repurchases
$31.7
$33.1 $34.7
$41.2
And we continue to return cash to shareholders through
dividends and buybacks
28© 2018 Knoll Inc.
28
Thank You
29© 2018 Knoll Inc.
Reconciliation of Non-GAAP Results
Net Sales (As Reported) Adjusted EBITDA (As Reported)
Office 723.0 Office 66.3
Lifestyle 409.9 Lifestyle 85.1
Knoll, Inc 1,132.9$ Unallocated Corporate (6.9)
Knoll, Inc 144.5$
Net Sales (Adjusted for Muuto) Adjusted EBITDA (Adjusted for Muuto)
Muuto (included in Lifestyle below) 70.4 Muuto (included in Lifestyle below) 19.9
Office 723.0 Office 66.3
Lifestyle 480.3 Lifestyle 105.0
Knoll, Inc 1,203.3$ Unallocated Corporate (6.9)
Knoll, Inc 164.4$
Year Ended December 31, 2017
Office Studio Coverings Office Studio Coverings
Operating Profit 73.9$ 53.4$ 26.0$ 25.9$ 51.1$ 24.6$
Add back:
Asset mpairment charge - - - 16.3 - -
Pension s ttlement charges - - - 2.2 - -
Restructuri g charges 2.2
Adjusted Operating Profit 73.9$ 53.4$ 26.0$ 46.6$ 51.1$ 24.6$
Net Sales 731.3$ 323.4$ 109.5$ 682.9$ 341.0$ 109.0$
Operating Profit % 10.1% 16.5% 23.7% 3.8% 15.0% 22.6%
Adjusted Operating Profit % 10.1% 16.5% 23.7% 6.8% 15.0% 22.6%
Full Year 2016 Full Year 2017
30© 2018 Knoll Inc.
2017 1H 2H
Operating Expenses: ($mm) 326.6$ 150.4$ 176.2$
Deduct:
Asset impairment charge 16.3 - 16.3
Pension settlement 2.2 - 2.2
Restructuring charges 2.2 2.2 -
Acquisition charges 0.5 - 0.5
Adjusted Operating Expenses 305.4$ 148.2$ 157.2$
Reconciliation of Non-GAAP Results
2017 1H 2H
Operating Profit: ($mm) 88.0$ 45.3$ 42.7$
Add:
Asset impairment charge 16.3 - 16.3
Pension settlement 2.2 - 2.2
Restructuri charges 2.2 .2 -
Acquisition charges 0.5 - 0.5
Adjusted Operating Profit 109.1$ 47.4$ 61.7$
Net Sales 1,132.9$ 525.5$ 607.4$
Operating Profit % 7.8% 8.6% 7.0%
Adjusted Operating Profit % 9.6% 9.0% 10.2%
a
31© 2018 Knoll Inc.
Reconciliation of Non-GAAP Results
12/31/13 3/31/14 12/31/14 12/31/15 12/31/16 12/31/17
Debt Levels
(1)
178.8$ 289.8$ 275.5$ 238.7$ 231.8$ 197.4$
LTM Net Earnings ($mm) 23.2$ 25.0$ 46.6$ 66.0$ 82.1$ 80.2$
L M Adjustments
Interest 5.3 5.5 6.7 6.1 4.7 6.8
Taxes 15.7 16.0 29.2 37.5 45.4 (1.6)
Depreciation and Amortization 16.3 16.9 20.0 21.3 23.0 26.7
Non-cash Items and Other
(2)
19.7 27.0 11.9 12.5 13.4 32.4
LTM Adjusted EBITDA 80.2$ 90.4$ 114.4$ 143.4$ 168.7$ 144.5$
Bank Leverage Calculation
(3)
2.23 3.21 2.41 1.67 1.37 1.37
(1) - Outstanding debt includes outstanding letters of credit and guarantee obligations. Excess cash over $15.0 million reduces
outstanding debt per the terms of our credit facility, a copy of which was filed with the Securities and Exchange Commission on May 21, 2014.
(2) - Non-cash and Other items include, but are not limited to, intangible asset impairment charges, pension settlements and other postretirement
benefit curtailment, stock-based compensation exp nses, unrealiz d gains and losses on foreign exchange, restructuring charges, and acquisition expenses.
(3) - Bank leverage is calculated by dividing debt by LTM Adjusted EBITDA, as calculated in accordance with our credit facility.
Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17
Operating Profit ($mm) 20.0$ 22.3$ 28.3$ 28.7$ 21.8$ 31.8$ 33.5$ 35.2$ 35.8$ 23.0$ 22.2$ 30.1$ 12.6$
Add back:
Intangible asset impairment charge - - - - 10.7 - - - - - - - 16.3
Pension settlement and OPEB curtailment 6.5 - - - - - - - - - - - 2.2
Restructuring charges 0.7 - - - 0.5 - - - - - 2.2 - -
Seating product discontinuation - - - - 0.9 - - - - - - - -
Acquisition expenses - - - - - - - - - - - - 0.5
Remeasurement of FilzFelt Earn-out liability 0.5 - - - - - - - - - - - -
Adjusted Operating Profit 27.7$ 22.3$ 28.3$ 28.7$ 33.9$ 31.8$ 33.5$ 35.2$ 35.8$ 23.0$ 24.4$ 30.1$ 31.6$
Net Sales ($mm) 286.5$ 266.5$ 268.6$ 263.6$ 305.7$ 284.6$ 294.7$ 292.1$ 292.9$ 256.8$ 268.7$ 291.3$ 316.1$
GAAP Operating Profit % 7.0% 8.4% 10.5% 10.9% 7.1% 11.2% 11.4% 12.1% 12.2% 9.0% 8.3% 10.3% 4.0%
Adjusted Operating Profit % 9.7% 8.4% 10.5% 10.9% 11.1% 11.2% 11.4% 12.1% 12.2% 9.0% 9.1% 10.3% 10.0%
32© 2018 Knoll Inc.
Reconciliation of Non-GAAP Results
1H 17 2H17
Earnings per Share - Diluted 0.57$ 1.06$
Add back:
Asset impairment charge - 0.33
Pension settlement - 0.04
Restructuring charges 0.03 -
Acquisition charges - 0.01
Tax effect of non-GAAP adjustments - (0.12)
Tax Reform - (0.54)
Adjusted Earnings per Share - Diluted 0.60$ 0.78$
1H 17 2H 17
Net Earnings ($mm) 28.4$ 51.9$
Add back:
Income tax (benefit) expense 12.9 (14.5)
Intere t expense 3.5 4.0
Depreciati n and amortization 12.3 13.7
EBITDA 57.1 55.0
Add back:
Non-cash items and other (1) 7.4 25.0
Adjusted EBITDA 64.5$ 80.0$
Net Sales ($mm) 525.5$ 607.4$
Adjusted EBITDA % 12.3% 13.2%
33© 2018 Knoll Inc.
Reconciliation of Non-GAAP Results
2014 2015 2016 2017
Net Earnings ($mm) 46.6$ 66.0$ 82.1$ 80.2$
Add back:
Income tax (benefit) expense 29.2 37.5 45.4 (1.6)
Interest expense 7.4 6.9 5.4 7.5
Depreciation and amortization 19.3 20.5 22.4 26.1
EBITDA 102.5$ 130.9$ 155.3$ 112.2$
Add back:
Non-cash items and other (1) 11.9 12.5 13.4 32.3
Adjusted EBITDA 114.4$ 143.4$ 168.7$ 144.5$
Net Sales ($mm) 1,050.3$ 1,104.4$ 1,164.3$ 1,132.9$
Adjusted EBITDA % 10.9% 13.0% 14.5% 12.8%
Years Ended December 31,
(1) - Non-cash and Other items include, but are not limited to, asset impairment charge, pension settlement and other postretirement benefit
curtailment, stock-based compensation expenses, unrealized gains or losses on foreign exchange, restructuring charges, and acquisition expenses
2014 2015 2016 2017
Earnings per Share - Diluted 0.97$ 1.36$ 1.68$ 1.63$
Add back:
Intangible asset impairment charge - 0.22 - 0.3
Pension settlement nd OPEB curtailment 0.14 - 04
R structuring charges 03 .0 - .
S a ing p odu t discontinuation ch rge - 0 2 -
Acquisition expenses - - 0.01
Less:
Tax effect on no -GAAP adjustments 0.05 0.09 .13
Reform impact - - - 0 54
Adjusted Earnings per Share - Diluted 1.09$ 1.52$ 1.68$ 1.38$
Years Ended December 31,
34© 2018 Knoll Inc.