Investments in Joint Ventures

12 Months Ended

Dec. 31, 2015

Equity Method Investments and Joint Ventures [Abstract]

As of December 31, 2013, we had a joint venture, EGS Electrical Group, LLC and Subsidiaries ("EGS"), with Emerson Electric Co., in which we held a 44.5% interest. EGS operates primarily in the United States, Brazil, Canada and France, and is engaged in the manufacture of electrical fittings, hazardous location lighting and power conditioning products. We accounted for our investment using the equity method, on a three-month lag basis, and we typically received our share of the joint venture's earnings in cash dividends paid quarterly.

On January 7, 2014, we completed the sale of our 44.5% interest in EGS to Emerson Electric Co. for cash proceeds of $574.1. As a result of the sale, we recorded a gain of $491.2 to "Other income (expense), net" and there were no equity earnings related to this investment during 2014.

EGS's results of operations and selected other information for its fiscal year ended September 30, 2013 were as follows:



Revenues	$	517.5
Gross profit	223.3
Income from continuing operations	89.4
Net income	89.4
Capital expenditures	13.3
Depreciation and amortization	11.0
Dividends received by SPX	30.3
Undistributed earnings attributable to SPX Corporation	20.0
SPX's equity earnings in EGS	41.9

The financial position, results of operations and cash flows of our other equity method investments are not material, individually or in the aggregate, in relation to our consolidated financial statements.