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Acquisitions, Discontinued Operations and Formation of Shanghai Electric JV (Tables) | 12 Months Ended
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Dec. 31, 2013
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 |  | $ | 342.1 |
Property, plant and equipment |  |  | 88.4 |
Goodwill |  |  | 373.7 |
Intangible assets |  |  | 374.6 |
Other assets |  |  | 25.1 |
​ | ​ | ​ | ​ | ​
Total assets acquired |  |  | 1,203.9 |
​ | ​ | ​ | ​ | ​
Liabilities assumed: |  |  |  |
Current liabilities |  |  | 291.9 |
Other long-term liabilities |  |  | 150.1 |
​ | ​ | ​ | ​ | ​
Total liabilities assumed |  |  | 442.0 |
​ | ​ | ​ | ​ | ​
Noncontrolling interest |  |  | (5.1 | )
​ | ​ | ​ | ​ | ​
Net assets acquired |  | $ | 767.0 |
​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​
Schedule of unaudited pro forma information |
|  | Year ended December 31, 2011 |
--- | --- | --- | ---
Revenues |  | $ | 4,707.1 |
Income from continuing operations attributable to SPX Corporation common shareholders |  |  | 135.6 |
Net income attributable to SPX Corporation common shareholders |  |  | 179.1 |
Income from continuing operations: |  |  |  |
Basic |  | $ | 2.69 |
Diluted |  | $ | 2.66 |
Net income attributable to SPX Corporation common shareholders: |  |  |  |
Basic |  | $ | 3.55 |
Diluted |  | $ | 3.52 |
Schedule of businesses sold showing quarter discontinued and quarter sold |
Business |  | Quarter Discontinued |  | Quarter of Sale or Termination of Operations |
--- | --- | --- | --- | --- | ---
Broadcast Antenna System business ("Dielectric") |  |  | Q2 2013 |  |  | Q2 2013 |
Crystal Growing business ("Kayex") |  |  | Q1 2013 |  |  | Q1 2013 |
TPS Tianyu Equipment Co., Ltd. ("Tianyu") |  |  | Q4 2012 |  |  | Q4 2012 |
Weil-McLain (Shandong) Cast-Iron-Boiler Co., Ltd. ("Weil-McLain Shandong") |  |  | Q4 2012 |  |  | Q4 2012 |
SPX Service Solutions ("Service Solutions") |  |  | Q1 2012 |  |  | Q4 2012 |
Schedule of income from discontinued operations and related income taxes |
|  | Year ended December 31, |
--- | --- | --- | ---
|  | 2013 |  | 2012 |  | 2011 |
Income from discontinued operations |  | $ | 19.1 |  | $ | 631.2 |  | $ | 69.4 |
Income tax provision |  |  | (7.8 | ) |  | (271.4 | ) |  | (25.9 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income from discontinued operations, net |  | $ | 11.3 |  | $ | 359.8 |  | $ | 43.5 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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Schedule of results of operations of businesses reported as discontinued operations |
|  | Year ended December 31, |
--- | --- | --- | ---
|  | 2013 |  | 2012 |  | 2011 |
Revenues |  | $ | 205.0 |  | $ | 1,094.2 |  | $ | 1,189.0 |
Pre-tax income |  |  | 22.5 |  |  | 75.6 |  |  | 72.4 |
Schedule of major classes of assets and liabilities, excluding intercompany balances, of businesses reported as discontinued operations |
|  | December 31, |
--- | --- | --- | ---
|  | 2013 |  | 2012 |
Assets: |  |  |  |  |  |  |
Accounts receivable, net |  | $ | 22.8 |  | $ | 21.2 |
Inventories, net |  |  | 37.6 |  |  | 32.7 |
Other current assets |  |  | 1.2 |  |  | 1.2 |
Property, plant and equipment, net |  |  | 16.3 |  |  | 16.2 |
Goodwill and intangibles, net |  |  | 70.4 |  |  | 71.3 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets of discontinued operations |  | $ | 148.3 |  | $ | 142.6 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: |  |  |  |  |  |  |
Accounts payable |  | $ | 13.3 |  | $ | 18.3 |
Accrued expenses |  |  | 18.6 |  |  | 16.6 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities of discontinued operations |  | $ | 31.9 |  | $ | 34.9 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​

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