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Summary of Significant Accounting Policies (Tables) | 6 Months Ended
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Jul. 01, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of New Accounting Pronouncements | The following changes were made to the Company’s condensed consolidated balance sheet on January 1, 2018 as a result of the adoption of ASC 606 (in millions):
| Balance at January 1, 2018 |  | ASC 606 Adjustment |  | Adjusted Balance at January 1, 2018
Assets |  |  |  |  |
Unbilled receivables, net | $ | 138.1 |  |  | $ | 1.3 |  |  | $ | 139.4 |
Inventoried costs | 49.0 |  |  | (0.3 | ) |  | 48.7 |
Liabilities |  |  |  |  |
Accrued expenses | $ | 40.9 |  |  | $ | (0.6 | ) |  | $ | 40.3 |
Billings in excess of costs and earnings on uncompleted contracts | 42.8 |  |  | 1.8 |  |  | 44.6 |
Stockholders’ Equity |  |  |  |  |
Accumulated deficit | $ | (720.8 | ) |  | $ | (0.2 | ) |  | $ | (721.0 | )
The following table summarizes the impacts of ASC 606 adoption on the Company’s operating income from continuing operations for the three and six months ended July 1, 2018 (in millions):
| For the three months ended |  | For the six months ended
| July 1, 2018 |  | July 1, 2018
|  |  | Balances Without Adoption of ASC 606 |  | Effect of Change Higher/(Lower) |  |  |  | Balances Without Adoption of ASC 606 |  | Effect of Change Higher/(Lower)
| As Reported |  |  |  | As Reported |  |
Service revenues | $ | 47.0 |  |  | $ | 47.0 |  |  | $ | — |  |  | $ | 93.0 |  |  | $ | 93.0 |  |  | $ | — |
Product sales | 104.2 |  |  | 100.6 |  |  | 3.6 |  |  | 201.2 |  |  | 190.0 |  |  | 11.2 |
Total revenues | 151.2 |  |  | 147.6 |  |  | 3.6 |  |  | 294.2 |  |  | 283.0 |  |  | 11.2 |
Cost of service revenue | 33.2 |  |  | 33.2 |  |  | — |  |  | 66.1 |  |  | 66.1 |  |  | — |
Cost of product sales | 78.7 |  |  | 74.7 |  |  | 4.0 |  |  | 148.0 |  |  | 139.7 |  |  | 8.3 |
Total costs | 111.9 |  |  | 107.9 |  |  | 4.0 |  |  | 214.1 |  |  | 205.8 |  |  | 8.3 |
Gross profit | 39.3 |  |  | 39.7 |  |  | (0.4 | ) |  | 80.1 |  |  | 77.2 |  |  | 2.9 |
Selling, general and administrative expenses | 30.1 |  |  | 30.1 |  |  | — |  |  | 59.9 |  |  | 59.9 |  |  | — |
Operating income from continuing operations | $ | 2.6 |  |  | $ | 3.0 |  |  | $ | (0.4 | ) |  | $ | 9.6 |  |  | $ | 6.7 |  |  | $ | 2.9 |
The following table summarizes the impacts of ASC 606 adoption on the Company’s balance sheet as of July 1, 2018 (in millions):
| July 1, 2018
|  |  | Balances Without Adoption of ASC 606 |  | Effect of Change Higher/(Lower)
| As Reported |  |
Assets |  |  |  |  |
Accounts receivable, net | $ | 66.2 |  |  | $ | 65.4 |  |  | $ | 0.8 |
Unbilled receivables, net | 160.6 |  |  | 151.9 |  |  | 8.7 |
Inventoried costs | 49.0 |  |  | 57.3 |  |  | (8.3 | )
Liabilities |  |  |  |  |
Billings in excess of costs and earnings on uncompleted contracts | 32.9 |  |  | 34.6 |  |  | (1.7 | )
Stockholders’ Equity |  |  |  |  |
Accumulated deficit | $ | (730.9 | ) |  | $ | (733.8 | ) |  | $ | 2.9 |

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