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DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE (Tables) | 3 Months Ended
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Apr. 02, 2016
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of income (loss) from discontinued operations and related income taxes | Major classes of line items constituting pre-tax income and after-tax income of SPX FLOW for the three months ended March 28, 2015 are shown below:
Revenues | $ | 570.6 |
Costs and expenses: |
Cost of products sold | 383.2 |
Selling, general and administrative(1) | 118.3 |
Intangible amortization | 5.9 |
Special charges | 3.8 |
Other income, net | 5.4 |
Interest expense, net | (10.6 | )
Income before taxes | 54.2 |
Income tax provision | (22.8 | )
Income from discontinued operations, net of tax | 31.4 |
Less: Net loss attributable to noncontrolling interest | (0.3 | )
Income from discontinued operations attributable to SPX Corporation common shareholders, net of tax | $ | 31.7 |
___________________________
(1) | Includes $5.0 for the three months ended March 28, 2015 of professional fees and other costs that were incurred in connection with the Spin-Off.
Schedule of disposal groups, including discontinued operations, income statement, balance sheet and additional disclosures | For the three months ended April 2, 2016 and March 28, 2015, the table below presents a reconciliation of discontinued operations activity to the related amounts in the condensed consolidated statements of operations:
| Three months ended
| April 2, 2016 |  | March 28, 2015
SPX FLOW |  |  |
Income from discontinued operations | $ | — |  |  | $ | 54.2 |
Income tax provision | — |  |  | (22.8 | )
Income from discontinued operations, net | — |  |  | 31.4 |
All other |  |  |
Loss from discontinued operations | (1.2 | ) |  | (0.4 | )
Income tax benefit | 0.1 |  |  | — |
Loss from discontinued operations, net | (1.1 | ) |  | (0.4 | )
Total |  |  |
Income (loss) from discontinued operations | (1.2 | ) |  | 53.8 |
Income tax (provision) benefit | 0.1 |  |  | (22.8 | )
Income (loss) from discontinued operations, net | $ | (1.1 | ) |  | $ | 31.0 |
The following table presents selected financial information regarding cash flows of SPX FLOW that are included within discontinued operations in the condensed consolidated statement of cash flows for the three months ended March 28, 2015:
Depreciation and amortization | $ | 14.6 |
Capital expenditures | 11.6 |
Major classes of assets and liabilities held for sale | The major classes of assets and liabilities held for sale as of December 31, 2015 are shown below:
Assets: |
Accounts receivable, net | $ | 49.2 |
Inventories, net | 12.9 |
Other current assets | 13.9 |
Property, plant and equipment, net | 3.3 |
Goodwill | 10.7 |
Intangibles, net | 8.3 |
Other assets | 8.8 |
Assets held for sale | $ | 107.1 |
Liabilities: |
Accounts payable | $ | 13.7 |
Accrued expenses | 25.3 |
Other long-term liabilities | 2.3 |
Liabilities held for sale | $ | 41.3 |

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- Definition Tabular disclosure of disposal groups, which may include 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 classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal. + References Reference 1: 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 2: 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 3: 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 4: 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 5: 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 + Details
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