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EQUITY AND STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 29, 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				Nine months ended
		September 29,		October 1,		September 29,		October 1,
		2012		2011		2012		2011
Weighted-average shares outstanding used in basic income per share		49.958		50.618		50.174		50.480
Dilutive securities — employee stock options and restricted stock units		0.080		0.186		0.625		0.559
Weighted-average number of common and dilutive securities used for calculating diluted income per share		50.038		50.804		50.799		51.039

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

								Correlation
								between total
								shareholder
		Annual expected						return for SPX
		stock price		Annual expected				and S&P 500
		volatility		dividend yield		Risk-free interest rate		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

				Weighted-Average
		Unvested Restricted Stock		Grant-Date Fair
		and Restricted Stock Units		Value Per Share
Outstanding at December 31, 2011		1.440		$	54.38
Granted		0.807		50.33
Vested		(0.204	)	35.03
Forfeited		(0.044	)	55.20
Outstanding at September 29, 2012		1.999		54.73

Schedule of stock option activity

				Weighted-
				Average Exercise
		Shares		Price
Options outstanding and exercisable at December 31, 2011		0.364		$	54.87
Exercised		(0.151	)	39.73
Forfeited		(0.177	)	69.42
Options outstanding and exercisable at September 29, 2012		0.036		46.93

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

		September 29,			December 31,
		2012			2011
Foreign currency translation adjustment		$	200.3		$	199.7
Net unrealized losses on qualifying cash flow hedges, net of tax benefit of $2.3 and $2.9, respectively		(3.3		)	(4.4		)
Net unrealized losses on available-for-sale securities		(3.0		)	(1.5		)
Pension and postretirement liability adjustment and other, net of tax benefit of $266.7 and $274.3, respectively (1)		(427.1		)	(440.3		)
Accumulated other comprehensive loss		$	(233.1	)	$	(246.5	)

(1) At both September 29, 2012 and December 31, 2011, includes $3.8 related to our share of the pension liability adjustment for EGS.

Schedule of changes in equity

		September 29, 2012									October 1, 2011
		SPX									SPX
		Corporation									Corporation
		Shareholders’			Noncontrolling			Total			Shareholders’			Noncontrolling			Total
		Equity			Interest			Equity			Equity			Interest			Equity
Equity, beginning of period		$	2,165.2		$	10.1		$	2,175.3		$	2,287.4		$	6.3		$	2,293.7
Net income		57.8			2.4			60.2			60.7			1.6			62.3
Net unrealized gains (losses) on qualifying cash flow hedges, net of tax (provision) benefit of $(0.3) and $1.0 for the three months ended September 29, 2012 and October 1, 2011, respectively		0.5			—			0.5			(1.2		)	—			(1.2		)
Net unrealized loss on available-for-sale securities		(2.9		)	—			(2.9		)	(2.5		)	—			(2.5		)
Pension liability adjustment, net of tax provision of $2.5 and $3.2 for the three months ended September 29, 2012 and October 1, 2011, respectively		3.7			—			3.7			4.1			—			4.1
Foreign currency translation adjustments		77.8			0.3			78.1			(92.1		)	(0.7		)	(92.8		)
Total comprehensive income (loss)		136.9			2.7			139.6			(31.0		)	0.9			(30.1		)
Dividends declared		(12.7		)	—			(12.7		)	(12.7		)	—			(12.7		)
Exercise of stock options and other incentive plan activity, including tax benefit of $0.1 and $0.2 for the three months ended September 29, 2012 and October 1, 2011, respectively		4.6			—			4.6			5.1			—			5.1
Amortization of restricted stock and stock unit grants, including $0.4 and $0.6 relating to discontinued operations for the three months ended September 29, 2012 and October 1, 2011 respectively		6.0			—			6.0			7.8			—			7.8
Dividends attributable to noncontrolling interest					(0.7		)	(0.7		)	—			—			—
Equity, end of period		$	2,300.0		$	12.1		$	2,312.1		$	2,256.6		$	7.2		$	2,263.8

		September 29, 2012									October 1, 2011
		SPX									SPX
		Corporation									Corporation
		Shareholders’			Noncontrolling			Total			Shareholders’			Noncontrolling			Total
		Equity			Interest			Equity			Equity			Interest			Equity
Equity, beginning of period		$	2,227.3		$	10.0		$	2,237.3		$	2,097.7		$	6.3		$	2,104.0
Net income		118.7			2.5			121.2			118.1			4.0			122.1
Net unrealized gains (losses) on qualifying cash flow hedges, net of tax (provision) benefit of $(0.6) and $1.0 for the nine months ended September 29, 2012 and October 1, 2011, respectively		1.1			—			1.1			(1.5		)	—			(1.5		)
Net unrealized loss on available-for-sale securities		(1.5		)	—			(1.5		)	(7.7		)	—			(7.7		)
Pension liability adjustment, net of tax provision of $7.6 and $7.8 for the nine months ended September 29, 2012 and October 1, 2011, respectively		13.2			—			13.2			11.1			—			11.1
Foreign currency translation adjustments		0.6			0.3			0.9			29.8			(0.1		)	29.7
Total comprehensive income		132.1			2.8			134.9			149.8			3.9			153.7
Dividends declared		(38.2		)	—			(38.2		)	(38.2		)	—			(38.2		)
Exercise of stock options and other incentive plan activity, including tax benefit of $3.6 and $5.9 for the nine months ended September 29, 2012 and October 1, 2011, respectively		23.2			—			23.2			29.4			—			29.4
Amortization of restricted stock and stock unit grants, including $1.0 and $1.6 relating to discontinued operations for the nine months ended September 29, 2012 and October 1, 2011, respectively		34.9			—			34.9			34.5			—			34.5
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		—			(0.7		)	(0.7		)	—			(4.1		)	(4.1		)
Other changes in noncontrolling interest		—			—			—			—			1.1			1.1
Equity, end of period		$	2,300.0		$	12.1		$	2,312.1		$	2,256.6		$	7.2		$	2,263.8

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of restricted stock activity, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected annual volatility of the entity's shares, (c) expected annual dividend yields, (d) risk-free interest rate(s), and (e) correlation between total shareholder return for SPX and S&P 500 composite index.

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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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