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Shareholders' Equity and Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2013

Shareholders' Equity and Stock-Based Compensation

Computations of the components used for the calculation of basic and diluted income per share

		Year ended December 31,
		2013			2012			2011
Numerator:
Income (loss) from continuing operations		$	201.3		$	(176.6	)	$	132.7
Less: Net income attributable to noncontrolling interests			2.2			3.0			5.0
​	​	​	​	​	​	​	​	​	​	​
Income (loss) from continuing operations attributable to SPX Corporation common shareholders for calculating basic and diluted income per share		$	199.1		$	(179.6	)	$	127.7
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​
Income from discontinued operations		$	11.3		$	359.8		$	43.5
Less: Net income (loss) attributable to noncontrolling interest			0.2			(0.2	)		—
​	​	​	​	​	​	​	​	​	​	​
Income from discontinued operations attributable to SPX Corporation common shareholders for calculating basic and diluted income per share		$	11.1		$	360.0		$	43.5
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​
Denominator:
Weighted-average number of common shares used in basic income per share			45.384			50.031			50.499
Dilutive securities — Employee stock options, restricted stock shares and restricted stock units			0.622			—			0.447
​	​	​	​	​	​	​	​	​	​	​
Weighted-average number of common shares and dilutive securities used in diluted income per share			46.006			50.031			50.946
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

Summary of common shares issued, treasury shares and shares outstanding

		Common Stock Issued			Treasury Stock			Shares Outstanding
Balance at December 31, 2010			98.068			(47.774	)		50.294
Stock options exercised			0.154			—			0.154
Restricted stock shares and restricted stock units			0.209			0.145			0.354
Other			0.271			—			0.271
​	​	​	​	​	​	​	​	​	​	​
Balance at December 31, 2011			98.702			(47.629	)		51.073
Stock options exercised			0.174			—			0.174
Share repurchases			—			(3.606	)		(3.606	)
Restricted stock shares and restricted stock units			0.311			0.085			0.396
Other			0.267			—			0.267
​	​	​	​	​	​	​	​	​	​	​
Balance at December 31, 2012			99.454			(51.150	)		48.304
Stock options exercised			0.008			—			0.008
Share repurchases			—			(3.493	)		(3.493	)
Restricted stock shares and restricted stock units			0.133			0.123			0.256
Other			0.206			—			0.206
​	​	​	​	​	​	​	​	​	​	​
Balance at December 31, 2013			99.801			(54.520	)		45.281
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

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 the applicable S&P Composite Index
April 1, 2013:
SPX Corporation			35.5	%		1.29	%		0.33	%		0.7668
S&P Composite 1500 Industrials Index			21.2	%		n/a			0.33	%
January 2, 2013:
SPX Corporation			36.3	%		1.42	%		0.37	%		0.7778
S&P Composite 1500 Industrials Index			22.4	%		n/a			0.37	%
January 3, 2012:
SPX Corporation			44.3	%		1.60	%		0.44	%		0.7365
S&P 500 Index			23.1	%		n/a			0.44	%

Schedule of restricted stock share and restricted stock unit activity

		Unvested Restricted Stock Shares and Restricted Stock Units			Weighted-Average Grant-Date Fair Value Per Share
Outstanding at December 31, 2010			1.516		$	50.97
Granted			0.836			62.72
Vested			(0.636	)		51.47
Forfeited			(0.276	)		67.21
​	​	​	​	​	​	​	​
Outstanding at December 31, 2011			1.440			54.38
Granted			0.823			50.64
Vested			(0.264	)		39.75
Forfeited			(0.064	)		57.77
​	​	​	​	​	​	​	​
Outstanding at December 31, 2012			1.935			54.70
Granted			0.652			61.66
Vested			(0.754	)		54.34
Forfeited			(0.296	)		52.20
​	​	​	​	​	​	​	​
Outstanding at December 31, 2013			1.537			58.39
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​

Schedule of stock option activity

		Shares			Weighted- Average Exercise Price
Options outstanding and exercisable at December 31, 2010			0.635		$	63.82
Exercised			(0.154	)		65.44
Terminated			(0.117	)		89.10
​	​	​	​	​	​	​	​
Options outstanding and exercisable at December 31, 2011			0.364			54.87
Exercised			(0.174	)		39.58
Terminated			(0.177	)		69.42
​	​	​	​	​	​	​	​
Options outstanding and exercisable at December 31, 2012			0.013			62.45
Exercised			(0.008	)		50.79
Terminated			(0.005	)		85.36
​	​	​	​	​	​	​	​
Options outstanding and exercisable at December 31, 2013			—			—
​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​

Schedule of changes in the components of accumulated other comprehensive income

		Foreign Currency Translation Adjustment			Net Unrealized Losses on Qualifying Cash Flow Hedges(1)			Net Unrealized Losses on Available-for- Sale Securities			Pension and Postretirement Liability Adjustment and Other(2)			Total
Balance at December 31, 2012		$	293.8		$	(3.3	)	$	(3.1	)	$	(2.6	)	$	284.8
Other comprehensive income (loss) before reclassifications			3.0			(1.0	)		(0.6	)		(1.2	)		0.2
Amounts reclassified from accumulated other comprehensive loss			—			3.5			—			(1.0	)		2.5
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Current-period other comprehensive income (loss)			3.0			2.5			(0.6	)		(2.2	)		2.7
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Balance at December 31, 2013		$	296.8		$	(0.8	)	$	(3.7	)	$	(4.8	)	$	287.5
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​

⁽¹⁾

Net of tax benefit of $1.0 and $2.5 as of December 31, 2013 and 2012, respectively.

⁽²⁾

Net of tax benefit of $2.2 and $1.2 as of December 31, 2013 and 2012, respectively. Includes $(5.0) and $(3.8), net of tax, related to our share of the pension liability adjustment for EGS as of December 31, 2013 and 2012, respectively, and $0.2 and $1.2, net of tax, of unamortized prior service credits as of December 31, 2013 and 2012, respectively.

Schedule of amounts reclassified from each component of accumulated comprehensive income

		Amount Reclassified from AOCI			Affected Line Item in the Consolidated Statement of Operations
Losses on qualifying cash flow hedges:
FX forward contracts		$	4.0		Revenues
Commodity contracts			1.3		Cost of products sold
​	​	​	​	​	​
Pre-tax			5.3
Income taxes			(1.8	)
​	​	​	​	​	​
		$	3.5
​	​	​	​	​	​
​	​	​	​	​	​
Amortization of pension and postretirement item:
Unrecognized prior service credits		$	(0.1	)	Cost of products sold
Unrecognized prior service credits			(1.3	)	Selling, general and administrative
​	​	​	​	​	​
Pre-tax			(1.4	)
Income taxes			0.4
​	​	​	​	​	​
		$	(1.0	)
​	​	​	​	​	​
​	​	​	​	​	​

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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 and the S&P Composite 1500 Industrial Index.

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Tabular disclosure of the components of accumulated other comprehensive income (loss).

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

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