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Shareholders' Equity and Stock-Based Compensation (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 26, 2015
Jun. 27, 2015
Mar. 28, 2015
[3]
Dec. 31, 2014
Sep. 27, 2014
Jun. 28, 2014
Mar. 29, 2014
[3]
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Numerator:                      
Income (loss) from continuing operations $ (7.6) [1],[2],[3] $ (130.7) [1],[2] $ (11.9) [1],[2] $ (41.0) [1],[2] $ (101.4) [1],[2],[3] $ (12.2) [1],[2] $ (19.2) [1],[2] $ 248.9 [1],[2] $ (191.2) $ 116.1 [4] $ 9.5 [4]
Less: Net income (loss) attributable to noncontrolling interests                 (33.4) (11.7) 0.7
Income (loss) from continuing operations attributable to SPX Corporation common shareholders for calculating basic and diluted income per share                 (157.8) 127.8 8.8
Income from discontinued operations $ (5.1) [3],[5] $ 0.1 [5] $ 48.2 [5] $ 31.0 [5] $ 56.6 [3],[5] $ 75.8 [5] $ 69.0 [5] $ 66.4 [5] 74.2 [6] 267.8 [4] 202.8 [4]
Less: Net income (loss) attributable to noncontrolling interest                 (0.9) 2.2 1.7
Income from discontinued operations attributable to SPX Corporation common shareholders for calculating basic and diluted income per share                 $ 75.1 $ 265.6 $ 201.1
Denominator:                      
Weighted-average number of common shares used in basic income per share                 40,733,000 42,400,000 45,384,000
Dilutive securities — Employee stock options, restricted stock shares and restricted stock units                 0 631,000 622,000
Weighted-average number of common shares and dilutive securities used in diluted income per share                 40,733,000 43,031,000 46,006,000
Stock options                      
Stock-based Compensation                      
Options outstanding (in shares) 505,000.000       0       505,000.000 0  
Restricted stock shares and restricted stock units                      
Stock-based Compensation                      
Number of options or units that were excluded from the computation of diluted income per share                 351,000    
Unvested Restricted Stock And Restricted Stock Units that did not Meet Required Market Thresholds for Vesting                      
Stock-based Compensation                      
Number of options or units that were excluded from the computation of diluted income per share                 553,000 226,000 647,000
[1] As discussed in Note 1, certain corrections were made to previously reported amounts. Within the quarterly results presented above, we have decreased income from continuing operations, net of tax, net income, and net income attributable to SPX Corporation common shareholders for the quarters ended March 29, 2014, June 28, 2014, September 27, 2014, and December 31, 2014 by $2.5, $0.2, $0.2 and $1.6, respectively. The earnings per share impact of the above mentioned items for the same periods was a decrease of $0.06, $0.01, $0.01, and $0.04, respectively, for both basic and diluted earnings per share from continuing operations, as well as both total basic and diluted earnings per share.
[2] As discussed in Note 9, during the first quarter of 2014, we completed the sale of our 44.5% interest in EGS to Emerson Electric Co. for cash proceeds of $574.1, which resulted in a pre-tax gain of $491.2. We completed the redemption of all our 7.625% senior notes during the first quarter of 2014. As a result of the redemption, we recorded a pre-tax charge of $32.5 during the quarter. During the first quarter of 2014, we recognized a pre-tax loss of $15.3 related to settlement losses and actuarial losses, which resulted primarily from the lump-sum payment action associated with the U.S. Plan that took place during the quarter (see Note 10 for further details). During the third quarter of 2015, we revised our estimates of expected revenues and profits associated with our large power projects in South Africa. As a result of these revisions, we reduced revenue and pre-tax income from continuing operations by $57.2 and $95.0, respectively. In addition, the revision resulted in an increase to “Net loss attributable to noncontrolling interests” of $23.8. See Notes 5 and 14 for additional details.During the fourth quarter of 2014, we revised our estimates of revenues and profits associated with our large power projects in South Africa. As a result of these revisions, revenues and pre-tax income from continuing operations for the fourth quarter of 2014 were reduced by $25.0. In addition, the revision resulted in an increase to “Net loss attributable to noncontrolling interests” of $6.3. See Note 5 for additional details.During the fourth quarter of 2015 and 2014, we recognized pre-tax actuarial losses of $12.0 and $80.6, respectively, associated with our pension and postretirement benefit plans (see Note 10 for further details).During the fourth quarter of 2015 and 2014, we recognized impairment charges of $13.7 and $28.9, respectively, associated with goodwill and other long-term assets of certain businesses within our Power segment (see Note 8 for further details).
[3] We establish actual interim closing dates using a fiscal calendar, which requires our businesses to close their books on the Saturday closest to the end of the first calendar quarter, with the second and third quarters being 91 days in length. Our fourth quarter ends on December 31. The interim closing dates for the first, second and third quarters of 2015 are March 28, June 27 and September 26, compared to the respective March 29, June 28 and September 27, 2014 dates. This practice only affects the quarterly reporting periods and not the annual reporting period. We had one less day in the first quarter of 2015 and we had one more day in the fourth quarter of 2015 than in the respective 2014 periods.
[4] Reflects the resulting amounts in the accompanying consolidated statements of operations for the years ended December 31, 2014 and 2013, and the accompanying consolidated balance sheet at December 31, 2014.
[5] As discussed in Note 4, we sold TPS for cash consideration of $42.5 during the first quarter of 2014. The sale resulted in a gain, net of taxes, of $21.5 during that quarter.
[6] Represents amounts for SPX FLOW through the date of Spin-Off (i.e., the nine months ended September 26, 2015), except for a revision to increase the income tax provision by $1.4 that was recorded during the fourth quarter of 2015.