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Equity Incentive Program (Tables)
 12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-Based Compensation Recognized Period Costs
The following table summarizes the compensation expense recognized by the Company for the periods presented (in millions):
 
Years Ended December 31,
 
2014
 
2013
 
2012
Pre-tax compensation expense
$
9.0

 
$
2.0

 
$
1.9

Tax benefit
(3.1
)
 
(0.7
)
 
(0.6
)
Total stock-based compensation expense, net of tax
$
5.9

 
$
1.3

 
$
1.3
Schedule of Black-Scholes Option-Pricing Assumptions
The fair value of stock options granted by the Company subsequent to the Separation and our Former Parent Company's SSARs and stock options granted to Knowles employees prior to the Separation was estimated on the date of grant using a Black-Scholes option-pricing model based on the assumptions shown in the table below.
 
Knowles Grants
 
Former Parent Grants
 
2014
 
2013
2012
Risk-free interest rate
1.32
%
to
1.70%
 
1.39%
1.05%
Dividend yield
—%
 
2.06%
2.03%
Expected life (years)
4.5

to
5.3
 
7.1
5.7
Volatility
42.9
%
to
49.9%
 
33.8%
36.4%
Fair value at date of grant
$7.99
to
$13.50
 
$20.62
$18.51
Schedule of Other Share-based Compensation, Activity
Other information regarding the exercise of SSARs and stock options is listed below (in millions):
 
Years Ended December 31,
 
2014
 
2013
 
2012
SSARs
 
 
 
 
 
Fair value of SSARs that became exercisable
$
1.1

 
$
1.2

 
$
0.8

Aggregate intrinsic value of SSARs exercised
$
0.1

 
$
7.0

 
$
3.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stock Options
 
 
 
 
 
Cash received by Knowles for exercise of stock options
$
0.1

 
N/A
 
N/A
Cash received by the Former Parent for exercise of stock options
N/A
 
$
0.8

 
$
0.9

Aggregate intrinsic value of options exercised
$
0.2

 
$
0.9

 
$
0.7
Schedule of SSAR and Stock Options Activity
The following table summarizes the Company's SSAR and stock option activity for the year ended December 31, 2014 (in millions except share and per share amounts).
 
SSARs
 
Stock Options
 
Number of Shares
 
Weighted-Average Exercise Price
 
Aggregate Intrinsic Value
 
Weighted-Average Remaining Contractual Term (Years)
 
Number of Shares
 
Weighted-Average Exercise Price
 
Aggregate Intrinsic Value
 
Weighted-Average Remaining Contractual Term (Years)
Outstanding at December 31, 2013
—

 
$
—

 
 
 
 
 
—

 
$
—

 
 
 
 
Converted
1,085,643

 
20.85

 
 
 
 
 
13,680

 
12.65

 
 
 
 
Granted
—

 
—

 
 
 
 
 
1,354,923

 
29.34

 
 
 
 
Exercised
(7,219
)
 
22.17

 
 
 
 
 
(11,280
)
 
12.65

 
 
 
 
Forfeited
(14,041
)
 
22.79

 
 
 
 
 
(29,333
)
 
29.53

 
 
 
 
Outstanding at December 31, 2014
1,064,383

 
$
20.81

 
$
3.0

 
6.7
 
1,327,990

 
$
29.31

 
$
0.1

 
6.2
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable at December 31, 2014
386,308

 
$
17.24

 
$
2.4

 
5.2
 
2,400

 
$
12.65

 
$
—

 
0.1
Schedule of Restricted Stock Units Award Activity
The following table summarizes the Company's RSU balances for the year ended December 31, 2014.
 
Share units
 
Weighted-average grant date fair value
Unvested at December 31, 2013
—

 
$
—

Converted (1)
21,557

 
12.36

Granted
377,848

 
29.35

Forfeited
(8,466
)
 
29.53

Unvested at December 31, 2014
390,939

 
$
28.41


(1) The weighted-average grant date fair value is equal to the fair value at the date of conversion as opposed to the fair value when originally issued under Dover's plan.