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DISCONTINUED OPERATIONS | 6 Months Ended
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Jun. 27, 2015
DISCONTINUED OPERATIONS. |
DISCONTINUED OPERATIONS | (3)DISCONTINUED OPERATIONS As indicated in Note 2, there were no disposal activities in the first half of 2015. Prior to January 1, 2015, we reported businesses or asset groups as discontinued operations when, among other things, we terminated the operations of the business or asset group, committed to a plan to divest the business or asset group or actively began marketing the business or asset group, and the sale of the business or asset group was deemed probable within the next twelve months. During the second quarter of 2014, we sold our SPX Precision Components (“Precision Components”) business for cash consideration of $63.0, resulting in a loss, net of tax, of $7.3. During the first quarter of 2014, we sold our Thermal Products Solutions (“TPS”) business for cash consideration of $38.5 and a promissory note of $4.0, resulting in a gain, net of tax, during the quarter of $21.5. The promissory note was paid in full during the fourth quarter of 2014. In addition to the Precision Components and TPS businesses, we recognized net losses of $0.5 and $0.9 during the three and six months ended June 27, 2015, respectively, and net gains of $1.2 and $0.7 during the three and six months ended June 28, 2014, respectively, resulting from adjustments to gains/losses on dispositions of businesses discontinued prior to 2014. For the three and six months ended June 27, 2015 and June 28, 2014, income (loss) from discontinued operations and the related income taxes are shown below:
|  | Three months ended |  | Six months ended |
|  | June 27, |  | June 28, |  | June 27, |  | June 28, |
|  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Income (loss) from discontinued operations |  | $ | (2.1 | ) | $ | (5.8 | ) | $ | (2.5 | ) | $ | 28.1 |
Income tax (provision) benefit |  | 1.6 |  | (0.9 | ) | 1.6 |  | (13.7 | )
Income (loss) from discontinued operations, net |  | $ | (0.5 | ) | $ | (6.7 | ) | $ | (0.9 | ) | $ | 14.4 |
For the three and six months ended June 27, 2015 and June 28, 2014, results of operations from our businesses reported as discontinued operations were as follows:
|  | Three months ended |  | Six months ended |
|  | June 27, |  | June 28, |  | June 27, |  | June 28, |
|  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Revenues |  | $ | — |  | $ | 0.6 |  | $ | — |  | $ | 26.6 |
Pre-tax loss |  | — |  | (0.9 | ) | — |  | (0.9 | )

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- Definition The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 + Details
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