Knoll (KNL) 10-Q 9 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 04, 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	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		49,105,115
Restricted stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,039,638

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 11,187	$ 4,192
Customer receivables, net of allowance for doubtful accounts of $12,591 and $7,919, respectively	83,258	116,532
Inventories, net	146,100	140,798
Deferred income taxes	18,532	20,485
Prepaid and other current assets	28,399	26,765
Total current assets	287,476	308,772
Property, plant, and equipment, net	184,690	172,142
Goodwill	134,241	127,671
Intangible assets, net	239,742	240,169
Other non-trade receivables	1,816	2,254
Other noncurrent assets	1,090	2,795
Total assets	849,055	853,803
Current liabilities:
Current maturities of long-term debt	10,000	10,000
Accounts payable	81,913	89,552
Other current liabilities	117,147	116,488
Total current liabilities	209,060	216,040
Long-term debt	183,217	209,718
Deferred income taxes	75,904	75,959
Postretirement benefits other than pensions	6,392	6,294
Pension liability	51,377	63,441
Other noncurrent liabilities	20,381	26,877
Total liabilities	546,331	598,329
Commitments and contingent liabilities
Equity:
Common stock, $0.01 par value; 200,000,000 shares authorized; 64,732,620 shares issued and 49,123,632 shares outstanding (including 1,058,129 non-voting restricted shares and net of 15,608,988 treasury shares) at September 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	52,886	47,165
Retained earnings	283,018	244,947
Accumulated other comprehensive loss	(33,891)	(37,318)
Total Knoll, Inc. stockholders' equity	302,504	255,282
Noncontrolling interests	220	192
Total equity	302,724	255,474
Total liabilities and equity	$ 849,055	$ 853,803

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for Doubtful Accounts Receivable	$ 12,591	$ 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	64,732,620	64,603,344
Common stock, shares outstanding	49,123,632	48,822,013
Non-vesting restricted shares	1,058,129	993,934
Treasury Stock, Shares	15,608,988	15,781,331

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Sales	$ 292,097	$ 263,588	$ 871,426	$ 798,708
Cost of sales	179,296	162,381	536,797	501,001
Gross profit	112,801	101,207	334,629	297,707
Selling, general, and administrative expenses	77,598	72,062	234,103	218,008
Restructuring and other charges	0	441	0	441
Operating profit	35,203	28,704	100,526	79,258
Interest expense	1,296	1,650	4,157	5,386
Other expense (income), net	681	(1,757)	3,470	(8,714)
Income before income tax expense	33,226	28,811	92,899	82,586
Income tax expense	11,608	10,950	32,229	30,068
Net earnings	21,618	17,861	60,670	52,518
Net earnings attributable to noncontrolling interests	11	28	28	3
Net earnings attributable to Knoll, Inc. stockholders	$ 21,607	$ 17,833	$ 60,642	$ 52,515
Net earnings per common share attributable to Knoll, Inc. stockholders:
Basic (in dollars per share)	$ 0.45	$ 0.37	$ 1.26	$ 1.10
Diluted (in dollars per share)	0.44	0.37	1.24	1.08
Dividends per share (in dollars per share)	$ 0.15	$ 0.12	$ 0.45	$ 0.36
Weighted-average number of common shares outstanding:
Basic (in shares)	48,053,836	47,764,462	48,000,386	47,725,186
Diluted (in shares)	48,845,553	48,487,623	48,765,607	48,441,129
Other comprehensive (loss) income:
Pension and other postretirement liability adjustment, net of tax	$ (136)	$ 4,902	$ (408)	$ 7,666
Foreign currency translation adjustment	(1,781)	(4,228)	3,835	(17,109)
Total other comprehensive (loss) income, net of tax	(1,917)	674	3,427	(9,443)
Total comprehensive income	19,701	18,535	64,097	43,075
Comprehensive income attributable to noncontrolling interests	11	28	28	3
Comprehensive income attributable to Knoll, Inc. stockholders	$ 19,690	$ 18,507	$ 64,069	$ 43,072

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITES
Net earnings	$ 60,670	$ 52,518
Adjustments to reconcile net earnings to cash provided by operating activities:
Depreciation	13,977	12,780
Amortization expense (including deferred financing fees)	2,966	2,927
Stock-based compensation	7,246	5,650
Inventory obsolescence	2,186	1,510
Unrealized foreign currency losses (gains)	1,324	(7,173)
Bad debt and customer credits	4,854	755
Loss on disposal of property, plant and equipment	4	392
Changes in assets and liabilities:
Customer receivables	28,997	19,124
Inventories	(6,807)	(11,713)
Accounts payable	(8,186)	(44,481)
Current and deferred income taxes	958	(5,941)
Other current assets	(1,548)	(1,417)
Other current liabilities	758	7,574
Other noncurrent assets and liabilities	(11,737)	5,634
Cash provided by operating activities	95,662	38,139
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures, net	(25,442)	(19,837)
Purchase of a business, net of cash acquired	(8,389)	0
Cash used in investing activities	(33,831)	(19,837)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from credit facility	253,500	230,000
Repayment of credit facility	(280,500)	(230,500)
Payment of dividends	(21,946)	(17,194)
Proceeds from the issuance of common stock	2,847	5,247
Purchase of common stock for treasury	(4,503)	(7,478)
Contingent purchase price payment	(5,000)	(5,000)
Tax benefit from the exercise of stock options and vesting of equity awards	0	940
Cash used in financing activities	(55,602)	(23,985)
Effect of exchange rate changes on cash and cash equivalents	766	(3,581)
Net increase (decrease) in cash and cash equivalents	6,995	(9,264)
Cash and cash equivalents at beginning of period	4,192	19,021
Cash and cash equivalents at end of period	$ 11,187	$ 9,757

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 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 in the assessment phase of 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 $1.8 million and $2.3 million from other noncurrent assets to long-term debt as of September 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 early adopted this standard during the three months ended September 30, 2016. As a result of the adoption of this standard, • excess tax benefits of less than $0.1 million and $0.5 million were recorded through income tax expense as discrete items for the three and nine months ended September 30, 2016, respectively; • excess tax benefits were combined with current and deferred income taxes within operating cash flows adopted on a prospective basis; • the Company elected to change its policy from estimating forfeitures to recognizing forfeitures when they occur and as a result approximately $0.1 million of cumulative estimated forfeiture expense was recorded to retained earnings as of January 1, 2016; • cash paid by the Company when directly withholding shares to satisfy an employee's statutory tax obligations continued to be classified as a financing activity and are included within the purchase of common stock for treasury line item; and • there was no impact on prior periods due to adopting the guidance on a prospective basis.

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Information regarding the Company's inventories is as follows (in thousands): September 30, 2016 December 31, 2015 Raw materials $ 63,649 $ 58,412 Work-in-process 7,762 7,470 Finished goods 74,689 74,916 $ 146,100 $ 140,798 Inventory reserves for obsolescence and other estimated losses were $ 9.9 million and $8.3 million at September 30, 2016 and December 31, 2015 , respectively, and have been included in the amounts above.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 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 September 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 34.9% and 38.0% for the three months ended September 30, 2016 and 2015, respectively. The Company’s effective tax rate was 34.7% and 36.4% for the nine months ended September 30, 2016 and 2015 , respectively. The decrease in the Company's effective tax rate for the three and nine months ended September 30, 2016 was a result of discrete items and 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. As of September 30, 2016 and December 31, 2015 , the Company had unrecognized tax benefits of approximately $1.5 million and $4.4 million , respectively. These unrecognized tax benefit amounts would affect the effective tax rate if recognized. During the nine months ended September 30, 2016, the Company paid approximately $3.2 million of certain tax liabilities as a result of filing amended returns. As of September 30, 2016 , the Company is subject to U.S. Federal income tax examinations for the tax years 2007 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 2007 through 2015.

CONTINGENT LIABILITIES AND COMM

CONTINGENT LIABILITIES AND COMMITMENTS	9 Months Ended
	Sep. 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 5,161 Warranty claims paid (4,757 ) Foreign currency translation adjustment 28 Balance, September 30, 2016 $ 8,945

INDEBTEDNESS

INDEBTEDNESS	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
INDEBTEDNESS	INDEBTEDNESS The Company's long-term debt is summarized as follows (in thousands): September 30, 2016 December 31, 2015 Balance of revolving credit facility $ 17,500 $ 37,000 Balance of term loan 177,500 185,000 Total long-term debt 195,000 222,000 Less: Current maturities of long-term debt 10,000 10,000 Less: Deferred financing fees, net 1,783 2,282 Long-term debt $ 183,217 $ 209,718

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Sep. 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 nine months ended September 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 3,835 — 3,835 Amounts reclassified from accumulated other comprehensive loss — (408 ) (408 ) Net current-period other comprehensive income (loss) 3,835 (408 ) 3,427 Balance, as of September 30, 2016 $ (10,651 ) $ (23,240 ) $ (33,891 ) 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 Nine Months Ended September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Amortization of pension and other post-retirement liability adjustments Prior service credits (1) $ (280 ) $ (420 ) $ (840 ) $ (564 ) Actuarial losses (1) 61 949 183 5,465 Total before tax (219 ) 529 (657 ) 4,901 Tax expense (benefit) 83 (176 ) 249 (1,784 ) Net of tax $ (136 ) $ 353 $ (408 ) $ 3,117 (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	9 Months Ended
	Sep. 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 September 30, Three Months Ended September 30, 2016 2015 2016 2015 Service cost $ 468 $ 1,851 $ — $ (2 ) Interest cost 2,416 3,055 49 60 Expected return on plan assets (3,862 ) (3,564 ) — — Amortization of prior service credit — — (280 ) (420 ) Recognized actuarial loss (gain) 123 1,158 (62 ) (209 ) Net periodic benefit (income) cost $ (855 ) $ 2,500 $ (293 ) $ (571 ) For the three months ended September 30, 2016 , $0.5 million of pension income was recognized in cost of sales and $0.4 million was recognized in selling, general, and administrative expenses. For the three months ended September 30, 2015 , $1.5 million of pension expense was incurred in cost of sales and $1.0 million was incurred in selling, general, and administrative expenses. Pension Benefits Other Benefits Nine Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Service cost $ 1,404 $ 5,626 $ — $ 5 Interest cost 7,248 9,283 147 221 Expected return on plan assets (11,086 ) (10,874 ) — — Amortization of prior service credit — — (840 ) (564 ) Recognized actuarial loss (gain) 369 5,490 (186 ) (25 ) Net periodic benefit (income) cost $ (2,065 ) $ 9,525 $ (879 ) $ (363 ) For the nine months ended September 30, 2016 , $1.1 million of pension income was recognized in cost of sales and $0.9 million was recognized in selling, general, and administrative expenses. For the nine months ended September 30, 2015 , $5.2 million of pension expense was incurred in cost of sales and $4.3 million was incurred in selling, general, and administrative expenses. During nine months ended September 30, 2016, the Company contributed $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	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Numerator: Net earnings attributable to Knoll, Inc. stockholders $ 21,607 $ 17,833 $ 60,642 $ 52,515 Denominator: Denominator for basic earnings per share - weighted-average shares 48,054 47,764 48,000 47,725 Effect of dilutive securities: Potentially dilutive shares resulting from stock plans 792 724 766 716 Denominator for diluted earnings per share - weighted-average shares 48,846 48,488 48,766 48,441 Antidilutive equity awards not included in weighted-average common shares—diluted (8 ) — (43 ) — Net earnings per common share attributable to Knoll, Inc. stockholders: Basic $ 0.45 $ 0.37 $ 1.26 $ 1.10 Diluted $ 0.44 $ 0.37 $ 1.24 $ 1.08

EQUITY

EQUITY	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
EQUITY	EQUITY The following table shows the change in equity attributable to Knoll, Inc. stockholders and noncontrolling interests during the nine months ended September 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 — — 60,642 — 60,642 28 60,670 Other comprehensive income — — — 3,427 3,427 — 3,427 Shares issued for consideration: Exercise of stock options (202,500 shares) 2 2,770 — — 2,772 — 2,772 Shares issued under stock incentive plan (313,632) 3 (3 ) — — — — — Shares issued to Board of Directors in lieu of cash (3,276 shares) — 75 — — 75 — 75 Stock-based compensation (1) — 7,380 (134 ) — 7,246 — 7,246 Cash dividend ($0.45 per share) — — (22,437 ) — (22,437 ) — (22,437 ) Purchase of common stock (211,714 shares) (2 ) (4,501 ) — — (4,503 ) — (4,503 ) Balance at September 30, 2016 $ 491 $ 52,886 $ 283,018 $ (33,891 ) $ 302,504 $ 220 $ 302,724 (1) The $0.1 million adjustment in retained earnings represents the ASU 2016-09 adjustment for cumulative estimated forfeiture expense. See Note 1 for additional information.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 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 September 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 nine months ended September 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 September 30, 2016 or December 31, 2015 .

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 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 nine months ended September 30, 2016 and 2015 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 SALES Office $ 185,764 $ 160,781 $ 550,390 $ 489,381 Studio 79,829 74,965 239,985 223,022 Coverings 26,504 27,842 81,051 86,305 Knoll, Inc. $ 292,097 $ 263,588 $ 871,426 $ 798,708 INTERSEGMENT SALES (1) Office $ 466 $ 343 $ 1,535 $ 1,244 Studio 1,228 1,525 4,286 4,611 Coverings 2,099 1,627 6,353 4,869 Knoll, Inc. $ 3,793 $ 3,495 $ 12,174 $ 10,724 OPERATING PROFIT Office $ 18,016 $ 11,112 $ 48,209 $ 27,457 Studio 11,706 11,340 34,816 32,371 Coverings 5,481 6,252 17,501 19,430 Knoll, Inc. (2) $ 35,203 $ 28,704 $ 100,526 $ 79,258 _______________________________________________________________________________ (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)	9 Months Ended
	Sep. 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 in the assessment phase of 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 $1.8 million and $2.3 million from other noncurrent assets to long-term debt as of September 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.

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Schedule of inventories	Information regarding the Company's inventories is as follows (in thousands): September 30, 2016 December 31, 2015 Raw materials $ 63,649 $ 58,412 Work-in-process 7,762 7,470 Finished goods 74,689 74,916 $ 146,100 $ 140,798

CONTINGENT LIABILITIES AND CO19

CONTINGENT LIABILITIES AND COMMITMENTS (Tables)	9 Months Ended
	Sep. 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 5,161 Warranty claims paid (4,757 ) Foreign currency translation adjustment 28 Balance, September 30, 2016 $ 8,945

INDEBTEDNESS (Tables)

INDEBTEDNESS (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of long-term debt	The Company's long-term debt is summarized as follows (in thousands): September 30, 2016 December 31, 2015 Balance of revolving credit facility $ 17,500 $ 37,000 Balance of term loan 177,500 185,000 Total long-term debt 195,000 222,000 Less: Current maturities of long-term debt 10,000 10,000 Less: Deferred financing fees, net 1,783 2,282 Long-term debt $ 183,217 $ 209,718

ACCUMULATED OTHER COMPREHENSI21

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Sep. 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 nine months ended September 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 3,835 — 3,835 Amounts reclassified from accumulated other comprehensive loss — (408 ) (408 ) Net current-period other comprehensive income (loss) 3,835 (408 ) 3,427 Balance, as of September 30, 2016 $ (10,651 ) $ (23,240 ) $ (33,891 )
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 Nine Months Ended September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Amortization of pension and other post-retirement liability adjustments Prior service credits (1) $ (280 ) $ (420 ) $ (840 ) $ (564 ) Actuarial losses (1) 61 949 183 5,465 Total before tax (219 ) 529 (657 ) 4,901 Tax expense (benefit) 83 (176 ) 249 (1,784 ) Net of tax $ (136 ) $ 353 $ (408 ) $ 3,117 (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)	9 Months Ended
	Sep. 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 September 30, Three Months Ended September 30, 2016 2015 2016 2015 Service cost $ 468 $ 1,851 $ — $ (2 ) Interest cost 2,416 3,055 49 60 Expected return on plan assets (3,862 ) (3,564 ) — — Amortization of prior service credit — — (280 ) (420 ) Recognized actuarial loss (gain) 123 1,158 (62 ) (209 ) Net periodic benefit (income) cost $ (855 ) $ 2,500 $ (293 ) $ (571 ) Pension Benefits Other Benefits Nine Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Service cost $ 1,404 $ 5,626 $ — $ 5 Interest cost 7,248 9,283 147 221 Expected return on plan assets (11,086 ) (10,874 ) — — Amortization of prior service credit — — (840 ) (564 ) Recognized actuarial loss (gain) 369 5,490 (186 ) (25 ) Net periodic benefit (income) cost $ (2,065 ) $ 9,525 $ (879 ) $ (363 )

COMMON STOCK AND EARNINGS PER23

COMMON STOCK AND EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Numerator: Net earnings attributable to Knoll, Inc. stockholders $ 21,607 $ 17,833 $ 60,642 $ 52,515 Denominator: Denominator for basic earnings per share - weighted-average shares 48,054 47,764 48,000 47,725 Effect of dilutive securities: Potentially dilutive shares resulting from stock plans 792 724 766 716 Denominator for diluted earnings per share - weighted-average shares 48,846 48,488 48,766 48,441 Antidilutive equity awards not included in weighted-average common shares—diluted (8 ) — (43 ) — Net earnings per common share attributable to Knoll, Inc. stockholders: Basic $ 0.45 $ 0.37 $ 1.26 $ 1.10 Diluted $ 0.44 $ 0.37 $ 1.24 $ 1.08

EQUITY (Tables)

EQUITY (Tables)	9 Months Ended
	Sep. 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 nine months ended September 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 — — 60,642 — 60,642 28 60,670 Other comprehensive income — — — 3,427 3,427 — 3,427 Shares issued for consideration: Exercise of stock options (202,500 shares) 2 2,770 — — 2,772 — 2,772 Shares issued under stock incentive plan (313,632) 3 (3 ) — — — — — Shares issued to Board of Directors in lieu of cash (3,276 shares) — 75 — — 75 — 75 Stock-based compensation (1) — 7,380 (134 ) — 7,246 — 7,246 Cash dividend ($0.45 per share) — — (22,437 ) — (22,437 ) — (22,437 ) Purchase of common stock (211,714 shares) (2 ) (4,501 ) — — (4,503 ) — (4,503 ) Balance at September 30, 2016 $ 491 $ 52,886 $ 283,018 $ (33,891 ) $ 302,504 $ 220 $ 302,724 (1) The $0.1 million adjustment in retained earnings represents the ASU 2016-09 adjustment for cumulative estimated forfeiture expense. See Note 1 for additional information.

FAIR VALUE OF FINANCIAL INSTR25

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 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 September 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)	9 Months Ended
	Sep. 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 nine months ended September 30, 2016 and 2015 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 SALES Office $ 185,764 $ 160,781 $ 550,390 $ 489,381 Studio 79,829 74,965 239,985 223,022 Coverings 26,504 27,842 81,051 86,305 Knoll, Inc. $ 292,097 $ 263,588 $ 871,426 $ 798,708 INTERSEGMENT SALES (1) Office $ 466 $ 343 $ 1,535 $ 1,244 Studio 1,228 1,525 4,286 4,611 Coverings 2,099 1,627 6,353 4,869 Knoll, Inc. $ 3,793 $ 3,495 $ 12,174 $ 10,724 OPERATING PROFIT Office $ 18,016 $ 11,112 $ 48,209 $ 27,457 Studio 11,706 11,340 34,816 32,371 Coverings 5,481 6,252 17,501 19,430 Knoll, Inc. (2) $ 35,203 $ 28,704 $ 100,526 $ 79,258 _______________________________________________________________________________ (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	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Reclassification of deferred financing costs	$ (1,783)	$ (2,282)
Accounting Standards Update 2015-03 | Other Noncurrent Assets
Debt Instrument [Line Items]
Reclassification of deferred financing costs	(1,800)	(2,300)
Accounting Standards Update 2015-03 | Long-term Debt
Debt Instrument [Line Items]
Reclassification of deferred financing costs	$ 1,800	$ 2,300

BASIS OF PRESENTATION INCOME TA

BASIS OF PRESENTATION INCOME TAX BENEFITS (Details) - Accounting Standards Update 2016-09 - New Accounting Pronouncement, Early Adoption, Effect - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Jan. 01, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Excess tax benefits	$ 100	$ 500
Retained Earnings
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative effect of new accounting principle in period of adoption			$ (134)

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 63,649	$ 58,412
Work-in-process	7,762	7,470
Finished goods	74,689	74,916
Inventories, net	146,100	140,798
Inventory reserves for obsolescence and other estimated losses	$ 9,900	$ 8,300

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Effective tax rate	34.90%	38.00%	34.70%	36.40%
Unrecognized tax benefits, which would reduce the effective tax rate if recognized	$ 1.5		$ 1.5		$ 4.4
Income taxes paid			$ 3.2

CONTINGENT LIABILITIES AND CO31

CONTINGENT LIABILITIES AND COMMITMENTS (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Changes in warranty reserve
Balance, December 31, 2015	$ 8,513
Provision for warranty claims	5,161
Warranty claims paid	(4,757)
Foreign currency translation adjustment	28
Balance, September 30, 2016	$ 8,945

INDEBTEDNESS (Details)

INDEBTEDNESS (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total long-term debt	$ 195,000	$ 222,000
Less: Current maturities of long-term debt	10,000	10,000
Less: Deferred financing fees, net	1,783	2,282
Long-term debt	183,217	209,718
Revolving credit facility
Debt Instrument [Line Items]
Total long-term debt	17,500	37,000
Term loan
Debt Instrument [Line Items]
Total long-term debt	$ 177,500	$ 185,000

ACCUMULATED OTHER COMPREHENSI33

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	$ 255,474
Ending Balance	302,724
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	3,835
Amounts reclassified from accumulated other comprehensive loss	0
Net current-period other comprehensive income (loss)	3,835
Ending Balance	(10,651)
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 loss	(408)
Net current-period other comprehensive income (loss)	(408)
Ending Balance	(23,240)
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(37,318)
Other comprehensive income before reclassifications	3,835
Amounts reclassified from accumulated other comprehensive loss	(408)
Net current-period other comprehensive income (loss)	3,427
Ending Balance	$ (33,891)

ACCUMULATED OTHER COMPREHENSI34

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Tax expense (benefit)	$ (11,608)	$ (10,950)	$ (32,229)	$ (30,068)
Net of tax			60,670
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Prior service credits	(280)	(420)	(840)	(564)
Actuarial losses	61	949	183	5,465
Total before tax	(219)	529	(657)	4,901
Tax expense (benefit)	83	(176)	249	(1,784)
Net of tax	$ (136)	$ 353	$ (408)	$ 3,117

PENSION AND OTHER POSTRETIREM35

PENSION AND OTHER POSTRETIREMENT BENEFITS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Pension Benefits
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
Service cost	$ 468	$ 1,851	$ 1,404	$ 5,626
Interest cost	2,416	3,055	7,248	9,283
Expected return on plan assets	(3,862)	(3,564)	(11,086)	(10,874)
Amortization of prior service credit	0	0	0	0
Recognized actuarial loss (gain)	123	1,158	369	5,490
Net periodic benefit (income) cost	(855)	2,500	(2,065)	9,525
Pension Benefits | Cost of Sales
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
Net periodic benefit (income) cost	500	1,500	1,100	5,200
Pension Benefits | Selling, General and Administrative Expenses
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
Net periodic benefit (income) cost	400	1,000	900	4,300
Other Benefits
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
Service cost	0	(2)	0	5
Interest cost	49	60	147	221
Expected return on plan assets	0	0	0	0
Amortization of prior service credit	(280)	(420)	(840)	(564)
Recognized actuarial loss (gain)	(62)	(209)	(186)	(25)
Net periodic benefit (income) cost	$ (293)	$ (571)	(879)	$ (363)
Union Pension Plan
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
Expected contributions in current fiscal year			2,000
Nonunion Pension Plan
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
Expected contributions in current fiscal year			$ 8,000

COMMON STOCK AND EARNINGS PER36

COMMON STOCK AND EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Net earnings attributable to Knoll, Inc. stockholders	$ 21,607	$ 17,833	$ 60,642	$ 52,515
Denominator for basic earnings per share - weighted-average shares	48,053,836	47,764,462	48,000,386	47,725,186
Potentially dilutive shares resulting from stock plans (in shares)	792,000	724,000	766,000	716,000
Denominator for diluted earnings per share - weighted-average shares (in shares)	48,845,553	48,487,623	48,765,607	48,441,129
Antidilutive equity awards not included in weighted-average common shares—diluted (in shares)	(8,000)	0	(43,000)	0
Basic (in dollars per share)	$ 0.45	$ 0.37	$ 1.26	$ 1.10
Diluted (in dollars per share)	$ 0.44	$ 0.37	$ 1.24	$ 1.08

EQUITY (Details)

EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			$ 255,474
Net earnings			60,670
Other comprehensive income	$ (1,917)	$ 674	3,427	$ (9,443)
Exercise of stock options (202,500 shares)			2,772
Shares issued to Board of Directors in lieu of cash (3,276 shares)			75
Stock-based compensation			7,246
Cash dividend ($0.45 per share)			(22,437)
Purchase of common stock (211,714 shares)			(4,503)
Ending Balance	302,724		$ 302,724
Exercise of stock options (in shares)			202,500
Shares issued to Board of Directors in lieu of cash (in shares)			3,276
Cash dividend (in dollars per share)			$ 0.45
Purchase of common stock (in shares)			211,714
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			$ 488
Exercise of stock options (202,500 shares)			2
Shares issued under stock incentive plan (313,632)			3
Purchase of common stock (211,714 shares)			(2)
Ending Balance	491		$ 491
Shares issued under stock incentive plan (in shares)			313,632
Additional Paid-In Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			$ 47,165
Exercise of stock options (202,500 shares)			2,770
Shares issued under stock incentive plan (313,632)			(3)
Shares issued to Board of Directors in lieu of cash (3,276 shares)			75
Stock-based compensation			7,380
Purchase of common stock (211,714 shares)			(4,501)
Ending Balance	52,886		52,886
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			244,947
Net earnings			60,642
Cash dividend ($0.45 per share)			(22,437)
Ending Balance	283,018		283,018
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			(37,318)
Other comprehensive income			3,427
Ending Balance	(33,891)		(33,891)
Total Knoll, Inc. Stockholders' Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			255,282
Net earnings			60,642
Other comprehensive income			3,427
Exercise of stock options (202,500 shares)			2,772
Shares issued to Board of Directors in lieu of cash (3,276 shares)			75
Stock-based compensation			7,246
Cash dividend ($0.45 per share)			(22,437)
Purchase of common stock (211,714 shares)			(4,503)
Ending Balance	302,504		302,504
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			192
Net earnings			28
Ending Balance	$ 220		$ 220

FAIR VALUE OF FINANCIAL INSTR38

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Financial information of segments
SALES	$ 292,097	$ 263,588	$ 871,426	$ 798,708
INTERSEGMENT SALES	3,793	3,495	12,174	10,724
OPERATING PROFIT	35,203	28,704	100,526	79,258
Office
Financial information of segments
SALES	185,764	160,781	550,390	489,381
INTERSEGMENT SALES	466	343	1,535	1,244
OPERATING PROFIT	18,016	11,112	48,209	27,457
Studio
Financial information of segments
SALES	79,829	74,965	239,985	223,022
INTERSEGMENT SALES	1,228	1,525	4,286	4,611
OPERATING PROFIT	11,706	11,340	34,816	32,371
Coverings
Financial information of segments
SALES	26,504	27,842	81,051	86,305
INTERSEGMENT SALES	2,099	1,627	6,353	4,869
OPERATING PROFIT	$ 5,481	$ 6,252	$ 17,501	$ 19,430