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EQUITY AND STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2012

EQUITY AND STOCK-BASED COMPENSATION

Schedule of weighted-average shares outstanding, used in the computation of basic and diluted income per share

		Three months ended				Six months ended
		June 30,		July 2,		June 30,		July 2,
		2012		2011		2012		2011
Weighted-average shares outstanding used in basic income per share		49.954		50.554		50.283		50.410
Dilutive securities — employee stock options and restricted stock units		0.955		0.811		0.901		0.748
Weighted-average number of common and dilutive securities used for calculating diluted income per share		50.909		51.365		51.184		51.158

Schedule of assumptions in determining the fair value of restricted stock awards granted

		Annual expected stock price volatility		Annual expected dividend yield		Risk-free interest rate		Correlation between total shareholder return for SPX and S&P 500 Composite Index
January 2, 2012:
SPX Corporation		44.3	%	1.60	%	0.44	%	0.7365
S&P 500 Composite Index		23.1	%	n/a		0.44	%
March 1, 2011:
SPX Corporation		61.0	%	1.27	%	1.03	%	0.7559
S&P 500 Composite Index		30.3	%	n/a		1.03	%

Schedule of restricted stock and restricted stock unit activity

		Unvested Restricted Stock and Restricted Stock Units		Weighted-Average Grant-Date Fair Value Per Share
Outstanding at December 31, 2011		1.440		$	54.38
Granted		0.796		50.17
Vested		(0.204	)	34.95
Forfeited		(0.040	)	55.19
Outstanding at June 30, 2012		1.992		54.66

Schedule of stock option activity

		Shares		Weighted- Average Exercise Price
Options outstanding and exercisable at December 31, 2011		0.364		$	54.87
Exercised		(0.141	)	39.81
Forfeited		(0.177	)	69.42
Options outstanding and exercisable at June 30, 2012		0.046		45.14

Schedule of components of the balance sheet caption, accumulated other comprehensive loss

		June 30, 2012			December 31, 2011
Foreign currency translation adjustment		$	122.5		$	199.7
Net unrealized losses on qualifying cash flow hedges, net of tax benefit of $2.6 and $2.9, respectively		(3.8		)	(4.4		)
Net unrealized losses on available-for-sale securities (1)		(0.1		)	(1.5		)
Pension and postretirement liability adjustment and other, net of tax benefit of $269.2 and $274.3, respectively (2)		(430.8		)	(440.3		)
Accumulated other comprehensive loss		$	(312.2	)	$	(246.5	)

(1) As of June 30, 2012 and December 31, 2011, our available-for-sale securities were recorded in “Assets of discontinued operations” within our condensed consolidated balance sheets.

(2) At both June 30, 2012 and December 31, 2011, includes $3.8 related to our share of the pension liability adjustment for EGS.

Schedule of changes in equity

		June 30, 2012									July 2, 2011
		SPX Corporation Shareholders’ Equity			Noncontrolling Interest			Total Equity			SPX Corporation Shareholders’ Equity			Noncontrolling Interest			Total Equity
Equity, beginning of period		$	2,280.9		$	9.5		$	2,290.4		$	2,217.5		$	5.4		$	2,222.9
Net income		47.4			0.8			48.2			34.3			0.7			35.0
Net unrealized gains on qualifying cash flow hedges, net of tax benefit (provision) of $0.2 and $(0.1) for the three months ended June 30, 2012 and July 2, 2011, respectively		—			—			—			0.1			—			0.1
Net unrealized loss on available-for-sale securities		(1.4		)	—			(1.4		)	(2.8		)	—			(2.8		)
Pension liability adjustment, net of tax provision of $3.3 and $2.6 for the three months ended June 30, 2012 and July 2, 2011, respectively		6.8			—			6.8			4.6			—			4.6
Foreign currency translation adjustments		(136.0		)	(0.3		)	(136.3		)	32.4			0.2			32.6
Total comprehensive income (loss)		(83.2		)	0.5			(82.7		)	68.6			0.9			69.5
Dividends declared		(12.7		)	—			(12.7		)	(12.8		)	—			(12.8		)
Exercise of stock options and other incentive plan activity, including tax benefit of $0.5 and $0.1 for the three months ended June 30, 2012 and July 2, 2011, respectively		5.4			—			5.4			7.1			—			7.1
Amortization of restricted stock and stock unit grants, including $0.1 and $0.5 relating to discontinued operations for the three months ended June 30, 2012 and July 2, 2011, respectively		6.6			—			6.6			7.0			—			7.0
Common stock repurchases		(31.8		)	—			(31.8		)	—			—			—
Other changes in noncontrolling interest		—			0.1			0.1			—			—			—
Equity, end of period		$	2,165.2		$	10.1		$	2,175.3		$	2,287.4		$	6.3		$	2,293.7

		June 30, 2012									July 2, 2011
		SPX Corporation Shareholders’ Equity			Noncontrolling Interest			Total Equity			SPX Corporation Shareholders’ Equity			Noncontrolling Interest			Total Equity
Equity, beginning of period		$	2,227.3		$	10.0		$	2,237.3		$	2,097.7		$	6.3		$	2,104.0
Net income		60.9			0.1			61.0			57.4			2.4			59.8
Net unrealized gains (losses) on qualifying cash flow hedges, net of tax provision of $0.3 and $2.1 for the six months ended June 30, 2012 and July 2, 2011, respectively		0.6			—			0.6			(0.3		)	—			(0.3		)
Net unrealized gain (loss) on available-for-sale securities		1.4			—			1.4			(5.2		)	—			(5.2		)
Pension liability adjustment, net of tax provision of $5.1 and $4.6 for the six months ended June 30, 2012 and July 2, 2011, respectively		9.5			—			9.5			7.0			—			7.0
Foreign currency translation adjustments		(77.2		)	—			(77.2		)	121.9			0.6			122.5
Total comprehensive income (loss)		(4.8		)	0.1			(4.7		)	180.8			3.0			183.8
Dividends declared		(25.5		)	—			(25.5		)	(25.5		)	—			(25.5		)
Exercise of stock options and other incentive plan activity, including tax benefit of $3.5 and $5.7 for the six months ended June 30, 2012 and July 2, 2011, respectively		18.6			—			18.6			24.3			—			24.3
Amortization of restricted stock and stock unit grants, including $0.6 and $1.0 relating to discontinued operations for the six months ended June 30, 2012 and July 2, 2011, respectively		28.9			—			28.9			26.7			—			26.7
Restricted stock and restricted stock unit vesting, net of tax withholdings		(4.3		)	—			(4.3		)	(16.6		)	—			(16.6		)
Common stock repurchases		(75.0		)	—			(75.0		)	—			—			—
Dividends attributable to noncontrolling interest		—			—			—			—			(4.1		)	(4.1		)
Other changes in noncontrolling interest		—			—			—			—			1.1			1.1
Equity, end of period		$	2,165.2		$	10.1		$	2,175.3		$	2,287.4		$	6.3		$	2,293.7

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Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit).

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