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ACQUISITIONS, DISCONTINUED OPERATIONS AND FORMATION OF SHANGHAI ELECTRIC JV (Tables) | 9 Months Ended
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Sep. 29, 2012
ACQUISITIONS, DISCONTINUED OPERATIONS AND FORMATION OF SHANGHAI ELECTRIC JV |
Summary of the recorded preliminary fair values of the assets acquired and liabilities assumed for Clyde Union |
Assets acquired: |  |  |
Current assets, including cash and equivalents of $44.3 |  | $ | 352.3 |
Property, plant and equipment |  | 76.7 |
Goodwill |  | 372.7 |
Intangible assets |  | 378.8 |
Other assets |  | 25.1 |
Total assets acquired |  | 1,205.6 |
Liabilities assumed: |  |  |
Current liabilities |  | 270.4 |
Other long-term liabilities |  | 166.4 |
Total liabilities assumed |  | 436.8 |
Noncontrolling interests |  | 1.8 |
Net assets acquired |  | $ | 767.0 |
Schedule of unaudited pro forma information |
|  | Three months ended |  | Nine months ended |
|  | October 1, 2011 |  | October 1, 2011 |
Revenues |  | $ | 1,269.8 |  | $ | 3,618.4 |
Income from continuing operations attributable to SPX Corporation common shareholders |  | 42.0 |  | 77.7 |
Net income attributable to SPX Corporation common shareholders |  | 53.5 |  | 103.3 |
Income from continuing operations attributable to SPX Corporation common shareholders: |  |  |  |  |
Basic |  | $ | 0.83 |  | $ | 1.54 |
Diluted |  | $ | 0.83 |  | $ | 1.52 |
Net income attributable to SPX Corporation common shareholders: |  |  |  |  |
Basic |  | $ | 1.06 |  | $ | 2.05 |
Diluted |  | $ | 1.05 |  | $ | 2.02 |
Schedule of income from discontinued operations and related income taxes |
|  | Three months ended |  | Nine months ended |
|  | September 29, |  | October 1, |  | September 29, |  | October 1, |
|  | 2012 |  | 2011 |  | 2012 |  | 2011 |
Income from discontinued operations |  | $ | 8.4 |  | $ | 18.5 |  | $ | 31.8 |  | $ | 34.6 |
Income tax provision |  | (3.1 | ) | (7.0 | ) | (11.9 | ) | (9.0 | )
Income from discontinued operations, net |  | $ | 5.3 |  | $ | 11.5 |  | $ | 19.9 |  | $ | 25.6 |
Schedule of results of operations of businesses reported as discontinued operations |
|  | Three months ended |  | Nine months ended |
|  | September 29, |  | October 1, |  | September 29, |  | October 1, |
|  | 2012 |  | 2011 |  | 2012 |  | 2011 |
Revenues |  | $ | 196.9 |  | $ | 221.2 |  | $ | 667.9 |  | $ | 682.5 |
Pre-tax income |  | 9.5 |  | 17.8 |  | 34.6 |  | 36.6 |
Schedule of major classes of assets and liabilities, excluding intercompany balances, of businesses reported as discontinued operations |
|  | September 29, |  | December 31, |
|  | 2012 |  | 2011 |
Assets: |  |  |  |  |
Accounts receivable, net |  | $ | 180.1 |  | $ | 191.8 |
Inventories |  | 134.9 |  | 127.7 |
Other current assets |  | 15.0 |  | 9.3 |
Property, plant and equipment, net |  | 46.4 |  | 48.7 |
Goodwill and intangibles, net |  | 279.2 |  | 283.9 |
Other assets |  | 51.1 |  | 58.7 |
Assets of discontinued operations |  | $ | 706.7 |  | 720.1 |
Liabilities: |  |  |  |  |
Accounts payable |  | $ | 72.5 |  | $ | 109.3 |
Accrued expenses |  | 106.1 |  | 109.4 |
Income taxes payable |  | 0.7 |  | 1.5 |
Deferred and other income taxes |  | 6.0 |  | 6.6 |
Other liabilities |  | 8.9 |  | 7.6 |
Liabilities of discontinued operations |  | $ | 194.2 |  | $ | 234.4 |

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