Hedging Transaction and Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Instruments, Balance Sheet Location

The following table sets forth the fair values of derivative instruments held by the Company at September 30, 2017 and December 31, 2016 and the balance sheet lines to which they are recorded (in millions):

Hedge Type	Balance Sheet Line Item	September 30, 2017		December 31, 2016
Cash flow hedges	Prepaid and other current assets	$	0.8	$	—
Cash flow hedges	Other accrued expenses	0.4		3.6
Cash flow hedges	Other liabilities	—		0.2
Economic hedges	Other accrued expenses	0.1		—

Schedule of Other Derivative Not Designated as Hedging Instruments, Statements of Financial Performance Location

For economic hedges, for which the Company does not apply hedge accounting, the following (gains) losses were recorded for the three and nine months ended September 30,2017 and 2016:

(in millions)		Three Months Ended September 30,					Nine Months Ended September 30,
Hedge Type	Statement of Earnings Line	2017			2016		2017			2016
Economic hedges	Other expense (income), net	$	(0.5	)	$	0.5	$	(1.4	)	$	0.5

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance Location

The following table presents the pre-tax impact of changes in the fair values of the designated derivatives, which qualify for hedge accounting during the three and nine months ended September 30,2017 and 2016. Knowles reclassified these (gains) losses out of AOCI into Other expense (income), net as follows:

(in millions)		Three Months Ended September 30,					Nine Months Ended September 30,
Hedge Type	Statement of Earnings Line	2017			2016		2017		2016
Cash flow hedges	Other expense (income), net	$	(0.4	)	$	0.1	$	1.3	$	(0.1	)