Knoll (KNL) 10-Q 9 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 05, 2016
Document Information [Line Items]
Entity Registrant Name	KNOLL INC
Entity Central Index Key	1,011,570
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		49,113,671
Restricted stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,042,129

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 3,548	$ 4,192
Customer receivables, net of allowance for doubtful accounts of $9,197 and $7,919, respectively	99,383	116,532
Inventories, net	146,475	140,798
Deferred income taxes	20,398	20,485
Prepaid and other current assets	29,541	26,765
Total current assets	299,345	308,772
Property, plant, and equipment, net	179,872	172,142
Goodwill	128,142	127,671
Intangible assets, net	238,565	240,169
Other non-trade receivables	1,966	2,254
Other noncurrent assets	1,110	2,795
Total assets	849,000	853,803
Current liabilities:
Current maturities of long-term debt	10,000	10,000
Accounts payable	80,289	89,552
Other current liabilities	105,626	116,488
Total current liabilities	195,915	216,040
Long-term debt	198,051	209,718
Deferred income taxes	77,945	75,959
Postretirement benefits other than pensions	6,379	6,294
Pension liability	61,992	63,441
Other current liabilities	20,784	26,877
Total liabilities	561,066	598,329
Commitments and contingent liabilities
Equity:
Common stock, $0.01 par value; 200,000,000 shares authorized; 64,690,526 shares issued and 49,092,583 shares outstanding (including 1,050,462 non-voting restricted shares and net of 15,597,943 treasury shares) at June 30, 2016 and 64,603,344 shares issued and 48,822,013 shares outstanding (including 993,934 non-voting restricted shares and net of 15,781,331 treasury shares) at December 31, 2015	491	488
Additional paid-in capital	50,635	47,165
Retained earnings	268,573	244,947
Accumulated other comprehensive loss	(31,974)	(37,318)
Total Knoll, Inc. stockholders' equity	287,725	255,282
Noncontrolling interests	209	192
Total equity	287,934	255,474
Total liabilities and equity	$ 849,000	$ 853,803

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for Doubtful Accounts Receivable	$ 9,197	$ 7,919
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	64,690,526	64,603,344
Common stock, shares outstanding	49,092,583	48,822,013
Non-vesting restricted shares	1,050,462	993,934
Treasury Stock, Shares	15,597,943	15,781,331

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Sales	$ 294,700	$ 268,622	$ 579,329	$ 535,120
Cost of sales	180,636	167,431	357,501	338,620
Gross profit	114,064	101,191	221,828	196,500
Selling, general, and administrative expenses	80,590	72,936	156,505	145,946
Operating profit	33,474	28,255	65,323	50,554
Interest expense	1,307	1,851	2,861	3,736
Other expense (income), net	185	200	2,789	(6,957)
Income before income tax expense	31,982	26,204	59,673	53,775
Income tax expense	10,678	8,982	21,100	19,118
Net earnings	21,304	17,222	38,573	34,657
Net earnings (loss) attributable to noncontrolling interests	6	(17)	17	(25)
Net earnings attributable to Knoll, Inc. stockholders	$ 21,298	$ 17,239	$ 38,556	$ 34,682
Net earnings per common share attributable to Knoll, Inc. stockholders:
Basic (in dollars per share)	$ 0.44	$ 0.36	$ 0.80	$ 0.73
Diluted (in dollars per share)	0.44	0.36	0.79	0.72
Dividends per share (in dollars per share)	$ 0.15	$ 0.12	$ 0.30	$ 0.24
Weighted-average number of common shares outstanding:
Basic (in shares)	48,018,733	47,760,961	47,961,661	47,705,222
Diluted (in shares)	48,664,318	48,509,546	48,588,725	48,445,060
Other comprehensive income (loss):
Pension and other postretirement liability adjustment, net of tax	$ (136)	$ 1,382	$ (272)	$ 2,764
Foreign currency translation adjustment	1,566	118	5,616	(12,881)
Total other comprehensive income (loss), net of tax	1,430	1,500	5,344	(10,117)
Total comprehensive income	22,734	18,722	43,917	24,540
Comprehensive income (loss) attributable to noncontrolling interests	6	(17)	17	(25)
Comprehensive income attributable to Knoll, Inc. stockholders	$ 22,728	$ 18,739	$ 43,900	$ 24,565

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITES
Net earnings	$ 38,573	$ 34,657
Adjustments to reconcile net earnings to cash provided by operating activities:
Depreciation	9,248	8,776
Amortization expense (including deferred financing fees)	1,977	1,951
Stock-based compensation	4,592	3,574
Inventory obsolescence	1,423	864
Unrealized foreign currency losses (gains)	1,605	(6,818)
Bad debt and customer credits	1,282	384
Loss on disposal of property, plant and equipment	1	227
Changes in assets and liabilities:
Customer receivables	16,216	8,864
Inventories	(6,410)	(5,945)
Accounts payable	(10,109)	(36,399)
Current and deferred income taxes	527	(11,437)
Other current assets	(2,675)	(1,765)
Other current liabilities	(9,787)	3,192
Other noncurrent assets and liabilities	(786)	7,317
Cash provided by operating activities	45,677	7,442
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures, net	(15,057)	(12,670)
Cash used in investing activities	(15,057)	(12,670)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from credit facility	173,500	170,000
Repayment of credit facility	(185,500)	(154,000)
Payment of dividends	(14,727)	(11,502)
Proceeds from the issuance of common stock	2,120	4,421
Purchase of common stock for treasury	(3,903)	(6,067)
Contingent purchase price payment	(5,000)	(5,000)
Tax benefit from the exercise of stock options and vesting of equity awards	662	979
Cash used in financing activities	(32,848)	(1,169)
Effect of exchange rate changes on cash and cash equivalents	1,584	(2,282)
Net decrease in cash and cash equivalents	(644)	(8,679)
Cash and cash equivalents at beginning of period	4,192	19,021
Cash and cash equivalents at end of period	$ 3,548	$ 10,342

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements of Knoll, Inc. (the “Company”) have been prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. The consolidated balance sheet of the Company, as of December 31, 2015 , was derived from the Company’s audited consolidated balance sheet as of that date. All other condensed consolidated financial statements contained herein are unaudited and reflect all adjustments which are, in the opinion of management, necessary to summarize fairly the financial position of the Company and the results of the Company’s operations and cash flows for the periods presented. All of these adjustments are of a normal recurring nature. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries and any partially owned subsidiaries that the Company has the ability to control. All significant intercompany balances and transactions have been eliminated in consolidation. These condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Form 10-K for the year ended December 31, 2015 . New Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers. This ASU supersedes the revenue recognition requirements in Accounting Standards Codification 605, Revenue Recognition , and most industry-specific guidance throughout the Accounting Standards Codification. The standard requires that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This ASU is effective for fiscal years beginning after December 15, 2017, and for interim periods therein. The guidance permits the use of either a full retrospective or modified retrospective transition method. The Company has not yet selected a transition method and is currently evaluating the impact of the amended guidance on the consolidated financial position, results of operations and related disclosures. In April 2015, the FASB issued ASU No. 2015-03 - Interest—Imputation of Interest (Subtopic 835-30) . This ASU simplifies the presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct reduction from the carrying amount of the debt liability, which is consistent with the treatment of debt discounts. The new guidance should be applied on a retrospective basis, and upon transition, an entity is required to comply with the applicable disclosures necessary for a change in accounting principle. This ASU is effective for fiscal years beginning after December 15, 2015, and for interim periods within those fiscal years. The Company reclassified deferred financing fees of $1.9 million and $2.3 million from other noncurrent assets to long-term debt as of June 30, 2016 and December 31, 2015, respectively. In July 2015, the FASB issued ASU 2015-11 - Inventory (Topic 330) , which amends existing guidance for measuring inventories. This amendment will require the Company to measure inventories recorded using the first-in, first-out method at the lower of cost and net realizable value. This amendment does not change the methodology for measuring inventories recorded using the last-in, first-out method. This amendment will be effective for fiscal years beginning after December 15, 2016. Early adoption is permitted. The Company does not expect the impact of the adoption of this ASU to have a material impact on its consolidated financial position, results of operations and cash flows. In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes . The amendments in this ASU require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in this ASU are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. The amendments in this ASU may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. The Company does not expect the impact of the adoption of this ASU to have a material impact on its consolidated financial position. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) in order to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet for those leases classified as operating leases. ASU 2016-02 requires that a lessee should recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term on the balance sheet. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 (including interim periods within those periods) using a modified retrospective approach and early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption of the ASU on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting , which amends Accounting Standards Codification Topic 718, Compensation – Stock Compensation . ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years and early adoption is permitted. The Company does not expect the impact of the adoption of this ASU to have a material impact on its consolidated financial statements.

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Information regarding the Company's inventories is as follows (in thousands): June 30, 2016 December 31, 2015 Raw materials $ 61,448 $ 58,412 Work-in-process 7,777 7,470 Finished goods 77,250 74,916 $ 146,475 $ 140,798 Inventory reserves for obsolescence and other estimated losses were $ 9.5 million and $8.3 million at June 30, 2016 and December 31, 2015 , respectively, and have been included in the amounts above.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s income tax provision consists of federal, state and foreign income taxes. The tax provisions for the three months ended June 30, 2016 and 2015 were based on the estimated effective tax rates applicable for the full years ending December 31, 2016 and 2015 , which includes items specifically related to the interim periods. The Company’s effective tax rate was 35.4% and 35.6% for the six months ended June 30, 2016 and 2015 , respectively. The decrease in the Company's effective tax rate for the six months ended June 30, 2016 was a result of the geographic mix of pretax income and the varying effective tax rates in the countries and states in which the Company operates, and a favorable income tax examination ruling received from a non-U.S. income tax jurisdiction. As of June 30, 2016 and December 31, 2015 , the Company had unrecognized tax benefits of approximately $1.2 million and $4.4 million , respectively. These unrecognized tax benefit amounts would affect the effective tax rate if recognized. During the six months ended June 30, 2016, the Company paid approximately $3.2 million of certain tax liabilities as a result of filing amended returns. As of June 30, 2016 , the Company is subject to U.S. Federal income tax examinations for the tax years 2012 through 2015, and to non-U.S. income tax examinations for the tax years 2009 through 2015. In addition, the Company is subject to state and local income tax examinations for the tax years 2011 through 2015.

CONTINGENT LIABILITIES AND COMM

CONTINGENT LIABILITIES AND COMMITMENTS	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
CONTINGENT LIABILITIES AND COMMITMENTS	CONTINGENT LIABILITIES AND COMMITMENTS Litigation The Company is currently involved in matters of litigation, including environmental contingencies, arising in the ordinary course of business. The Company accrues for such matters when expenditures are probable and reasonably estimable. Based upon information presently known, management is of the opinion that such litigation, either individually or in the aggregate, will not have a material adverse effect on the Company’s financial position, results of operations, or cash flows. Warranty The Company provides for estimated product warranty expenses when related products are sold and are included within other current liabilities. Because warranty estimates are forecasts that are based on the best available information, primarily historical claims experience, future warranty claims may differ from the amounts provided. Changes in the warranty reserve are as follows (in thousands): Balance, December 31, 2015 $ 8,513 Provision for warranty claims 3,448 Warranty claims paid (3,219 ) Foreign currency translation adjustment 38 Balance, June 30, 2016 $ 8,780

INDEBTEDNESS

INDEBTEDNESS	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
INDEBTEDNESS	INDEBTEDNESS The Company's long-term debt is summarized as follows (in thousands): June 30, 2016 December 31, 2015 Balance of revolving credit facility $ 30,000 $ 37,000 Balance of term loan 180,000 185,000 Total long-term debt 210,000 222,000 Less: Current maturities of long-term debt 10,000 10,000 Less: Deferred financing fees, net 1,949 2,282 Long-term debt $ 198,051 $ 209,718

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes the changes in accumulated other comprehensive income (loss) by component for the six months ended June 30, 2016 (in thousands): Foreign Pension and Total Balance, as of December 31, 2015 $ (14,486 ) $ (22,832 ) $ (37,318 ) Other comprehensive income before reclassifications 5,616 — 5,616 Amounts reclassified from accumulated other comprehensive income — (272 ) (272 ) Net current-period other comprehensive income (loss) 5,616 (272 ) 5,344 Balance, as of June 30, 2016 $ (8,870 ) $ (23,104 ) $ (31,974 ) The following reclassifications were made from accumulated other comprehensive income (loss) to the condensed consolidated statements of operations and other comprehensive income (in thousands): Three Months Ended Six Months Ended June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 Amortization of pension and other post-retirement liability adjustments Prior service credits (1) $ (280 ) $ (72 ) $ (560 ) $ (144 ) Actuarial losses (1) 61 2,258 122 4,516 Total before tax (219 ) 2,186 (438 ) 4,372 Tax expense (benefit) 83 (804 ) 166 (1,608 ) Net of tax $ (136 ) $ 1,382 $ (272 ) $ 2,764 (1) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension costs. See Note 7 for additional information.

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFITS	6 Months Ended
	Jun. 30, 2016
Pension and Other Postretirement Benefit Expense [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFITS	PENSION AND OTHER POSTRETIREMENT BENEFITS The following table sets forth the components of the net periodic benefit cost for the Company's pension and other postretirement benefit plans (in thousands): Pension Benefits Other Benefits Three Months Ended June 30, Three Months Ended June 30, 2016 2015 2016 2015 Service cost $ 468 $ 1,887 $ — $ 4 Interest cost 2,416 3,114 49 80 Expected return on plan assets (3,612 ) (3,655 ) — — Amortization of prior service credit — — (280 ) (72 ) Recognized actuarial loss (gain) 123 2,166 (62 ) 92 Net periodic benefit (income) cost $ (605 ) $ 3,512 $ (293 ) $ 104 For the three months ended June 30, 2016 , $0.3 million of pension income was recognized in cost of sales and $0.3 million was recognized in selling, general, and administrative expenses. For the three months ended June 30, 2015 , $2.0 million of pension expense was incurred in cost of sales and $1.5 million was incurred in selling, general, and administrative expenses. Pension Benefits Other Benefits Six Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Service cost $ 936 $ 3,774 $ — $ 8 Interest cost 4,832 6,228 98 160 Expected return on plan assets (7,224 ) (7,310 ) — — Amortization of prior service credit — — (560 ) (144 ) Recognized actuarial loss (gain) 246 4,332 (124 ) 184 Net periodic benefit (income) cost $ (1,210 ) $ 7,024 $ (586 ) $ 208 For the six months ended June 30, 2016 , $0.6 million of pension income was recognized in cost of sales and $0.6 million was recognized in selling, general, and administrative expenses. For the six months ended June 30, 2015 , $4.0 million of pension expense was incurred in cost of sales and $3.0 million was incurred in selling, general, and administrative expenses. During 2016, the Company expects to contribute $8.0 million and $2.0 million in discretionary contributions to the union and nonunion pension plans, respectively.

COMMON STOCK AND EARNINGS PER S

COMMON STOCK AND EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
COMMON STOCK AND EARNINGS PER SHARE	COMMON STOCK AND EARNINGS PER SHARE Basic earnings per share excludes the dilutive effect of common shares that could potentially be issued due to the exercise of stock options and unvested restricted stock and restricted stock units, and is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share includes the effect of shares and potential shares and units issued under the stock incentive plans. The following table sets forth the reconciliation from basic to dilutive average common shares (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Numerator: Net earnings attributable to Knoll, Inc. stockholders $ 21,298 $ 17,239 $ 38,556 $ 34,682 Denominator: Denominator for basic earnings per share - weighted-average shares 48,019 47,761 47,962 47,705 Effect of dilutive securities: Potentially dilutive shares resulting from stock plans 645 749 627 740 Denominator for diluted earnings per share - weighted-average shares 48,664 48,510 48,589 48,445 Antidilutive equity awards not included in weighted-average common shares—diluted — — — — Net earnings per common share attributable to Knoll, Inc. stockholders: Basic $ 0.44 $ 0.36 $ 0.80 $ 0.73 Diluted $ 0.44 $ 0.36 $ 0.79 $ 0.72

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
EQUITY	EQUITY The following table shows the change in equity attributable to Knoll, Inc. stockholders and noncontrolling interests during the six months ended June 30, 2016 (in thousands): Common Additional Retained Accumulated Total Noncontrolling Interests Total Equity Balance at December 31, 2015 $ 488 $ 47,165 $ 244,947 $ (37,318 ) $ 255,282 $ 192 $ 255,474 Net earnings — — 38,556 — 38,556 17 38,573 Other comprehensive income — — — 5,344 5,344 — 5,344 Shares issued for consideration: Exercise of stock options (165,000 shares) 2 2,070 — — 2,072 — 2,072 Income tax effect from the exercise of stock options and vesting of equity awards — 662 — — 662 — 662 Shares issued under stock incentive plan (297,632) 3 (3 ) — — — — — Shares issued to Board of Directors in lieu of cash (2,182 shares) — 50 — — 50 — 50 Stock-based compensation — 4,592 — — 4,592 — 4,592 Cash dividend ($0.30 per share) — — (14,930 ) — (14,930 ) — (14,930 ) Purchase of common stock (188,169 shares) (2 ) (3,901 ) — — (3,903 ) — (3,903 ) Balance at June 30, 2016 $ 491 $ 50,635 $ 268,573 $ (31,974 ) $ 287,725 $ 209 $ 287,934

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS Financial Instruments The carrying value of the Company’s cash and cash equivalents, accounts receivable, and accounts payable approximate fair value due to their short maturities. The carrying value of the Company’s long-term debt approximates its fair value, as it is variable rate debt and the terms are comparable to market terms as of the balance sheet dates, and are classified as Level 2. Assets and Liabilities Recorded at Fair Value on a Recurring Basis The following table represents the assets and liabilities, measured at fair value on a recurring basis and the basis for that measurement (in thousands): Fair Value as of June 30, 2016 Fair Value as of December 31, 2015 Liabilities: Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Contingent purchase price payment $ — $ — $ 6,000 $ 6,000 $ — $ — $ 11,000 $ 11,000 Pursuant to the agreement governing the acquisition of HOLLY HUNT®, the Company may be required to make annual contingent purchase price payments. The payouts are based upon HOLLY HUNT® reaching an annual net sales target, for each year through 2016, and are paid out on or around February 20 of the following calendar year. The Company classifies this as a Level 3 measurement and is required to remeasure this liability at fair value on a recurring basis. The fair value of such contingent purchase price payments, totaling $16.0 million , was determined at the time of acquisition based upon net sales projections for HOLLY HUNT® for 2014, 2015, and 2016. The Company paid $5.0 million of the remaining $11.0 million contingent purchase price in the six months ended June 30, 2016 as a result of HOLLY HUNT® achieving the 2015 net sales projections. Excluding the initial recognition of the liability for the contingent purchase price payments and payments made to reduce the liability, any further changes in the fair value would be included within selling, general and administrative expenses. There were no additional assets or liabilities recorded at fair value on a recurring basis as of June 30, 2016 or December 31, 2015 .

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The following information below categorizes certain financial information into the Company's reportable segments for the three and six months ended June 30, 2016 and 2015 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 SALES Office $ 179,270 $ 160,877 $ 364,626 $ 328,600 Studio 88,650 77,863 160,156 148,057 Coverings 26,780 29,882 54,547 58,463 Knoll, Inc. $ 294,700 $ 268,622 $ 579,329 $ 535,120 INTERSEGMENT SALES (1) Office $ 488 $ 415 $ 1,069 $ 901 Studio 1,753 1,706 3,058 3,086 Coverings 2,008 1,317 4,255 3,242 Knoll, Inc. $ 4,249 $ 3,438 $ 8,382 $ 7,229 OPERATING PROFIT Office $ 13,597 $ 9,099 $ 30,193 $ 16,345 Studio 14,067 12,079 23,110 21,031 Coverings 5,810 7,077 12,020 13,178 Knoll, Inc. (2) $ 33,474 $ 28,255 $ 65,323 $ 50,554 _______________________________________________________________________________ (1) Intersegment sales are presented on a cost-plus basis which takes into consideration the effect of transfer prices between legal entities. (2) The Company does not allocate interest expense or other (income) expense, net to the reportable segments.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements of Knoll, Inc. (the “Company”) have been prepared pursuant to the rules and regulations of the United States Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. The consolidated balance sheet of the Company, as of December 31, 2015 , was derived from the Company’s audited consolidated balance sheet as of that date. All other condensed consolidated financial statements contained herein are unaudited and reflect all adjustments which are, in the opinion of management, necessary to summarize fairly the financial position of the Company and the results of the Company’s operations and cash flows for the periods presented. All of these adjustments are of a normal recurring nature. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries and any partially owned subsidiaries that the Company has the ability to control. All significant intercompany balances and transactions have been eliminated in consolidation. These condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Form 10-K for the year ended December 31, 2015 .
New Accounting Pronouncements	In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers. This ASU supersedes the revenue recognition requirements in Accounting Standards Codification 605, Revenue Recognition , and most industry-specific guidance throughout the Accounting Standards Codification. The standard requires that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This ASU is effective for fiscal years beginning after December 15, 2017, and for interim periods therein. The guidance permits the use of either a full retrospective or modified retrospective transition method. The Company has not yet selected a transition method and is currently evaluating the impact of the amended guidance on the consolidated financial position, results of operations and related disclosures. In April 2015, the FASB issued ASU No. 2015-03 - Interest—Imputation of Interest (Subtopic 835-30) . This ASU simplifies the presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct reduction from the carrying amount of the debt liability, which is consistent with the treatment of debt discounts. The new guidance should be applied on a retrospective basis, and upon transition, an entity is required to comply with the applicable disclosures necessary for a change in accounting principle. This ASU is effective for fiscal years beginning after December 15, 2015, and for interim periods within those fiscal years. The Company reclassified deferred financing fees of $1.9 million and $2.3 million from other noncurrent assets to long-term debt as of June 30, 2016 and December 31, 2015, respectively. In July 2015, the FASB issued ASU 2015-11 - Inventory (Topic 330) , which amends existing guidance for measuring inventories. This amendment will require the Company to measure inventories recorded using the first-in, first-out method at the lower of cost and net realizable value. This amendment does not change the methodology for measuring inventories recorded using the last-in, first-out method. This amendment will be effective for fiscal years beginning after December 15, 2016. Early adoption is permitted. The Company does not expect the impact of the adoption of this ASU to have a material impact on its consolidated financial position, results of operations and cash flows. In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes . The amendments in this ASU require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The amendments in this ASU are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. The amendments in this ASU may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. The Company does not expect the impact of the adoption of this ASU to have a material impact on its consolidated financial position. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) in order to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet for those leases classified as operating leases. ASU 2016-02 requires that a lessee should recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term on the balance sheet. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 (including interim periods within those periods) using a modified retrospective approach and early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption of the ASU on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting , which amends Accounting Standards Codification Topic 718, Compensation – Stock Compensation . ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years and early adoption is permitted. The Company does not expect the impact of the adoption of this ASU to have a material impact on its consolidated financial statements.

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
Schedule of inventories	Information regarding the Company's inventories is as follows (in thousands): June 30, 2016 December 31, 2015 Raw materials $ 61,448 $ 58,412 Work-in-process 7,777 7,470 Finished goods 77,250 74,916 $ 146,475 $ 140,798

CONTINGENT LIABILITIES AND CO19

CONTINGENT LIABILITIES AND COMMITMENTS (Tables)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of changes in the warranty reserve	Changes in the warranty reserve are as follows (in thousands): Balance, December 31, 2015 $ 8,513 Provision for warranty claims 3,448 Warranty claims paid (3,219 ) Foreign currency translation adjustment 38 Balance, June 30, 2016 $ 8,780

INDEBTEDNESS (Tables)

INDEBTEDNESS (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule of long-term debt	The Company's long-term debt is summarized as follows (in thousands): June 30, 2016 December 31, 2015 Balance of revolving credit facility $ 30,000 $ 37,000 Balance of term loan 180,000 185,000 Total long-term debt 210,000 222,000 Less: Current maturities of long-term debt 10,000 10,000 Less: Deferred financing fees, net 1,949 2,282 Long-term debt $ 198,051 $ 209,718

ACCUMULATED OTHER COMPREHENSI21

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in accumulated other comprehensive income (loss) by component for the six months ended June 30, 2016 (in thousands): Foreign Pension and Total Balance, as of December 31, 2015 $ (14,486 ) $ (22,832 ) $ (37,318 ) Other comprehensive income before reclassifications 5,616 — 5,616 Amounts reclassified from accumulated other comprehensive income — (272 ) (272 ) Net current-period other comprehensive income (loss) 5,616 (272 ) 5,344 Balance, as of June 30, 2016 $ (8,870 ) $ (23,104 ) $ (31,974 )
Reclassification out of Accumulated Other Comprehensive Income	The following reclassifications were made from accumulated other comprehensive income (loss) to the condensed consolidated statements of operations and other comprehensive income (in thousands): Three Months Ended Six Months Ended June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 Amortization of pension and other post-retirement liability adjustments Prior service credits (1) $ (280 ) $ (72 ) $ (560 ) $ (144 ) Actuarial losses (1) 61 2,258 122 4,516 Total before tax (219 ) 2,186 (438 ) 4,372 Tax expense (benefit) 83 (804 ) 166 (1,608 ) Net of tax $ (136 ) $ 1,382 $ (272 ) $ 2,764 (1) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension costs. See Note 7 for additional information.

PENSION AND OTHER POSTRETIREM22

PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)	6 Months Ended
	Jun. 30, 2016
Pension and Other Postretirement Benefit Expense [Abstract]
Schedule of components of the net periodic benefit cost	The following table sets forth the components of the net periodic benefit cost for the Company's pension and other postretirement benefit plans (in thousands): Pension Benefits Other Benefits Three Months Ended June 30, Three Months Ended June 30, 2016 2015 2016 2015 Service cost $ 468 $ 1,887 $ — $ 4 Interest cost 2,416 3,114 49 80 Expected return on plan assets (3,612 ) (3,655 ) — — Amortization of prior service credit — — (280 ) (72 ) Recognized actuarial loss (gain) 123 2,166 (62 ) 92 Net periodic benefit (income) cost $ (605 ) $ 3,512 $ (293 ) $ 104 Pension Benefits Other Benefits Six Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Service cost $ 936 $ 3,774 $ — $ 8 Interest cost 4,832 6,228 98 160 Expected return on plan assets (7,224 ) (7,310 ) — — Amortization of prior service credit — — (560 ) (144 ) Recognized actuarial loss (gain) 246 4,332 (124 ) 184 Net periodic benefit (income) cost $ (1,210 ) $ 7,024 $ (586 ) $ 208

COMMON STOCK AND EARNINGS PER23

COMMON STOCK AND EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Schedule of reconciliation of basic to dilutive average common shares	The following table sets forth the reconciliation from basic to dilutive average common shares (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Numerator: Net earnings attributable to Knoll, Inc. stockholders $ 21,298 $ 17,239 $ 38,556 $ 34,682 Denominator: Denominator for basic earnings per share - weighted-average shares 48,019 47,761 47,962 47,705 Effect of dilutive securities: Potentially dilutive shares resulting from stock plans 645 749 627 740 Denominator for diluted earnings per share - weighted-average shares 48,664 48,510 48,589 48,445 Antidilutive equity awards not included in weighted-average common shares—diluted — — — — Net earnings per common share attributable to Knoll, Inc. stockholders: Basic $ 0.44 $ 0.36 $ 0.80 $ 0.73 Diluted $ 0.44 $ 0.36 $ 0.79 $ 0.72

EQUITY (Tables)

EQUITY (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Schedule of Stockholders Equity	The following table shows the change in equity attributable to Knoll, Inc. stockholders and noncontrolling interests during the six months ended June 30, 2016 (in thousands): Common Additional Retained Accumulated Total Noncontrolling Interests Total Equity Balance at December 31, 2015 $ 488 $ 47,165 $ 244,947 $ (37,318 ) $ 255,282 $ 192 $ 255,474 Net earnings — — 38,556 — 38,556 17 38,573 Other comprehensive income — — — 5,344 5,344 — 5,344 Shares issued for consideration: Exercise of stock options (165,000 shares) 2 2,070 — — 2,072 — 2,072 Income tax effect from the exercise of stock options and vesting of equity awards — 662 — — 662 — 662 Shares issued under stock incentive plan (297,632) 3 (3 ) — — — — — Shares issued to Board of Directors in lieu of cash (2,182 shares) — 50 — — 50 — 50 Stock-based compensation — 4,592 — — 4,592 — 4,592 Cash dividend ($0.30 per share) — — (14,930 ) — (14,930 ) — (14,930 ) Purchase of common stock (188,169 shares) (2 ) (3,901 ) — — (3,903 ) — (3,903 ) Balance at June 30, 2016 $ 491 $ 50,635 $ 268,573 $ (31,974 ) $ 287,725 $ 209 $ 287,934

FAIR VALUE OF FINANCIAL INSTR25

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of indefinite lived intangible assets recorded at fair value on a recurring basis	The following table represents the assets and liabilities, measured at fair value on a recurring basis and the basis for that measurement (in thousands): Fair Value as of June 30, 2016 Fair Value as of December 31, 2015 Liabilities: Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Contingent purchase price payment $ — $ — $ 6,000 $ 6,000 $ — $ — $ 11,000 $ 11,000

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Schedule of certain financial information related to segments	The following information below categorizes certain financial information into the Company's reportable segments for the three and six months ended June 30, 2016 and 2015 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 SALES Office $ 179,270 $ 160,877 $ 364,626 $ 328,600 Studio 88,650 77,863 160,156 148,057 Coverings 26,780 29,882 54,547 58,463 Knoll, Inc. $ 294,700 $ 268,622 $ 579,329 $ 535,120 INTERSEGMENT SALES (1) Office $ 488 $ 415 $ 1,069 $ 901 Studio 1,753 1,706 3,058 3,086 Coverings 2,008 1,317 4,255 3,242 Knoll, Inc. $ 4,249 $ 3,438 $ 8,382 $ 7,229 OPERATING PROFIT Office $ 13,597 $ 9,099 $ 30,193 $ 16,345 Studio 14,067 12,079 23,110 21,031 Coverings 5,810 7,077 12,020 13,178 Knoll, Inc. (2) $ 33,474 $ 28,255 $ 65,323 $ 50,554 _______________________________________________________________________________ (1) Intersegment sales are presented on a cost-plus basis which takes into consideration the effect of transfer prices between legal entities. (2) The Company does not allocate interest expense or other (income) expense, net to the reportable segments.

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Reclassification of deferred financing costs	$ 1,949	$ 2,282
Accounting Standards Update 2015-03 | Other Noncurrent Assets
Debt Instrument [Line Items]
Reclassification of deferred financing costs	(1,900)	(2,300)
Accounting Standards Update 2015-03 | Long-term Debt
Debt Instrument [Line Items]
Reclassification of deferred financing costs	$ 1,900	$ 2,300

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 61,448	$ 58,412
Work-in-process	7,777	7,470
Finished goods	77,250	74,916
Inventories, net	146,475	140,798
Inventory reserves for obsolescence and other estimated losses	$ 9,500	$ 8,300

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Effective tax rate	35.40%	35.60%
Unrecognized tax benefits, which would reduce the effective tax rate if recognized	$ 1.2		$ 4.4
Income taxes paid	$ 3.2

CONTINGENT LIABILITIES AND CO30

CONTINGENT LIABILITIES AND COMMITMENTS (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Changes in warranty reserve
Balance, December 31, 2015	$ 8,513
Provision for warranty claims	3,448
Warranty claims paid	(3,219)
Foreign currency translation adjustment	38
Balance, June 30, 2016	$ 8,780

INDEBTEDNESS (Details)

INDEBTEDNESS (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total long-term debt	$ 210,000	$ 222,000
Less: Current maturities of long-term debt	10,000	10,000
Less: Deferred financing fees, net	1,949	2,282
Long-term debt	198,051	209,718
Revolving credit facility
Debt Instrument [Line Items]
Total long-term debt	30,000	37,000
Term loan
Debt Instrument [Line Items]
Total long-term debt	$ 180,000	$ 185,000

ACCUMULATED OTHER COMPREHENSI32

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	$ 255,474
Ending Balance	287,934
Foreign Currency Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(14,486)
Other comprehensive income before reclassifications	5,616
Amounts reclassified from accumulated other comprehensive income	0
Net current-period other comprehensive income (loss)	5,616
Ending Balance	(8,870)
Pension and Other Post-Retirement Liability Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(22,832)
Other comprehensive income before reclassifications	0
Amounts reclassified from accumulated other comprehensive income	(272)
Net current-period other comprehensive income (loss)	(272)
Ending Balance	(23,104)
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(37,318)
Other comprehensive income before reclassifications	5,616
Amounts reclassified from accumulated other comprehensive income	(272)
Net current-period other comprehensive income (loss)	5,344
Ending Balance	$ (31,974)

ACCUMULATED OTHER COMPREHENSI33

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Tax expense (benefit)	$ (10,678)	$ (8,982)	$ (21,100)	$ (19,118)
Net of tax			38,573
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Prior service credits	(280)	(72)	(560)	(144)
Actuarial losses	61	2,258	122	4,516
Total before tax	(219)	2,186	(438)	4,372
Tax expense (benefit)	83	(804)	166	(1,608)
Net of tax	$ (136)	$ 1,382	$ (272)	$ 2,764

PENSION AND OTHER POSTRETIREM34

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Pension Benefits
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
Service cost	$ 468	$ 1,887	$ 936	$ 3,774
Interest cost	2,416	3,114	4,832	6,228
Expected return on plan assets	(3,612)	(3,655)	(7,224)	(7,310)
Amortization of prior service credit	0	0	0	0
Recognized actuarial loss (gain)	123	2,166	246	4,332
Net periodic benefit (income) cost	(605)	3,512	(1,210)	7,024
Pension Benefits | Cost of Sales
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
Net periodic benefit (income) cost	300	2,000	600	4,000
Pension Benefits | Selling, General and Administrative Expenses
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
Net periodic benefit (income) cost	300	1,500	600	3,000
Other Benefits
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
Service cost	0	4	0	8
Interest cost	49	80	98	160
Expected return on plan assets	0	0	0	0
Amortization of prior service credit	(280)	(72)	(560)	(144)
Recognized actuarial loss (gain)	(62)	92	(124)	184
Net periodic benefit (income) cost	$ (293)	$ 104	(586)	$ 208
Union Pension Plan
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
Expected contributions in current fiscal year			8,000
Nonunion Pension Plan
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
Expected contributions in current fiscal year			$ 2,000

COMMON STOCK AND EARNINGS PER35

COMMON STOCK AND EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Net earnings attributable to Knoll, Inc. stockholders	$ 21,298	$ 17,239	$ 38,556	$ 34,682
Denominator for basic earnings per share - weighted-average shares	48,018,733	47,760,961	47,961,661	47,705,222
Potentially dilutive shares resulting from stock plans (in shares)	645,000	749,000	627,000	740,000
Denominator for diluted earnings per share - weighted-average shares (in shares)	48,664,318	48,509,546	48,588,725	48,445,060
Antidilutive equity awards not included in weighted-average common shares—diluted (in shares)	0	0	0	0
Basic (in dollars per share)	$ 0.44	$ 0.36	$ 0.80	$ 0.73
Diluted (in dollars per share)	$ 0.44	$ 0.36	$ 0.79	$ 0.72

EQUITY (Details)

EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			$ 255,474
Net earnings			38,573
Other comprehensive income	$ 1,430	$ 1,500	5,344	$ (10,117)
Exercise of stock options (165,000 shares)			2,072
Income tax effect from the exercise of stock options and vesting of equity awards			662
Shares issued under stock incentive plan (297,632)			0
Shares issued to Board of Directors in lieu of cash (2,182 shares)			50
Stock-based compensation			4,592
Cash dividend ($0.30 per share)			(14,930)
Purchase of common stock (188,169 shares)			(3,903)
Ending Balance	287,934		$ 287,934
Exercise of stock options (in shares)			165,000
Shares issued to Board of Directors in lieu of cash (in shares)			2,182
Cash dividend (in dollars per share)			$ 0.30
Purchase of common stock (in shares)			188,169
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			$ 488
Exercise of stock options (165,000 shares)			2
Shares issued under stock incentive plan (297,632)			3
Purchase of common stock (188,169 shares)			(2)
Ending Balance	491		$ 491
Shares issued under stock incentive plan (in shares)			297,632
Additional Paid-In Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			$ 47,165
Exercise of stock options (165,000 shares)			2,070
Income tax effect from the exercise of stock options and vesting of equity awards			662
Shares issued under stock incentive plan (297,632)			(3)
Shares issued to Board of Directors in lieu of cash (2,182 shares)			50
Stock-based compensation			4,592
Purchase of common stock (188,169 shares)			(3,901)
Ending Balance	50,635		50,635
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			244,947
Net earnings			38,556
Cash dividend ($0.30 per share)			(14,930)
Ending Balance	268,573		268,573
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			(37,318)
Other comprehensive income			5,344
Ending Balance	(31,974)		(31,974)
Total Knoll, Inc. Stockholders' Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			255,282
Net earnings			38,556
Other comprehensive income			5,344
Exercise of stock options (165,000 shares)			2,072
Income tax effect from the exercise of stock options and vesting of equity awards			662
Shares issued under stock incentive plan (297,632)			0
Shares issued to Board of Directors in lieu of cash (2,182 shares)			50
Stock-based compensation			4,592
Cash dividend ($0.30 per share)			(14,930)
Purchase of common stock (188,169 shares)			(3,903)
Ending Balance	287,725		287,725
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			192
Net earnings			17
Other comprehensive income			0
Exercise of stock options (165,000 shares)			0
Income tax effect from the exercise of stock options and vesting of equity awards			0
Shares issued under stock incentive plan (297,632)			0
Shares issued to Board of Directors in lieu of cash (2,182 shares)			0
Stock-based compensation			0
Cash dividend ($0.30 per share)			0
Purchase of common stock (188,169 shares)			0
Ending Balance	$ 209		$ 209

FAIR VALUE OF FINANCIAL INSTR37

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent purchase price payments	$ 5,000	$ 5,000
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of contingent consideration	6,000		$ 11,000	$ 16,000
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of contingent consideration	$ 6,000		$ 11,000

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Financial information of segments
SALES	$ 294,700	$ 268,622	$ 579,329	$ 535,120
OPERATING PROFIT	33,474	28,255	65,323	50,554
Operating Segments
Financial information of segments
SALES	294,700	268,622	579,329	535,120
INTERSEGMENT SALES	4,249	3,438	8,382	7,229
Office | Operating Segments
Financial information of segments
SALES	179,270	160,877	364,626	328,600
INTERSEGMENT SALES	488	415	1,069	901
OPERATING PROFIT	13,597	9,099	30,193	16,345
Studio | Operating Segments
Financial information of segments
SALES	88,650	77,863	160,156	148,057
INTERSEGMENT SALES	1,753	1,706	3,058	3,086
OPERATING PROFIT	14,067	12,079	23,110	21,031
Coverings | Operating Segments
Financial information of segments
SALES	26,780	29,882	54,547	58,463
INTERSEGMENT SALES	2,008	1,317	4,255	3,242
OPERATING PROFIT	$ 5,810	$ 7,077	$ 12,020	$ 13,178