XML 12 R2.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended
Apr. 02, 2016
Mar. 28, 2015
Income Statement [Abstract]    
Revenues [1] $ 389.3 $ 376.3
Costs and expenses:    
Cost of products sold 299.5 301.8
Selling, general and administrative 82.2 114.9
Intangible amortization 0.9 1.4
Special charges, net 0.3 2.8
Impairment of intangible assets 4.0 0.0
Gain on sale of dry cooling business 17.9 0.0
Operating income (loss) 20.3 (44.6)
Other income (expense), net 0.8 (4.6)
Interest expense (3.5) (5.7)
Interest income 0.2 0.6
Equity earnings in joint ventures 0.4 0.0
Income (loss) from continuing operations before income taxes 18.2 (54.3)
Income tax (provision) benefit (3.5) 13.3
Income (loss) from continuing operations 14.7 (41.0)
Income from discontinued operations, net of tax 0.0 31.4
Loss on disposition of discontinued operations, net of tax (1.1) (0.4)
Income (loss) from discontinued operations, net of tax (1.1) 31.0
Net income (loss) 13.6 (10.0)
Less: Net income (loss) attributable to noncontrolling interests 0.6 (2.9)
Net income (loss) attributable to SPX Corporation common shareholders 13.0 (7.1)
Amounts attributable to SPX Corporation common shareholders:    
Income (loss) from continuing operations, net of tax 14.1 (38.4)
Income (loss) from discontinued operations, net of tax (1.1) 31.3
Net income (loss) $ 13.0 $ (7.1)
Basic income (loss) per share of common stock:    
Income (loss) from continuing operations attributable to SPX Corporation common shareholders $ 0.34 $ (0.95)
Income (loss) from discontinued operations attributable to SPX Corporation common shareholders (0.03) 0.77
Net income (loss) per share attributable to SPX Corporation common shareholders $ 0.31 $ (0.18)
Weighted-average number of common shares outstanding — basic 41,293 40,503
Diluted income (loss) per share of common stock:    
Income (loss) from continuing operations attributable to SPX Corporation common shareholders $ 0.34 $ (0.95)
Income (loss) from discontinued operations attributable to SPX Corporation common shareholders (0.03) 0.77
Net income (loss) per share attributable to SPX Corporation common shareholders $ 0.31 $ (0.18)
Weighted-average number of common shares outstanding — diluted 41,553 40,503
Comprehensive loss $ (25.1) $ (140.5)
[1] Under the percentage-of-completion method, we recognized revenues of $126.0 and $125.4 in the three months ended April 2, 2016 and March 28, 2015, respectively. Costs and estimated earnings in excess of billings on uncompleted contracts accounted for under the percentage-of-completion method were $90.6 and $106.3 as of April 2, 2016 and December 31, 2015, respectively, and are reported as a component of ‘‘Accounts receivable, net’’ in the condensed consolidated balance sheets. Billings in excess of costs and estimated earnings on uncompleted contracts accounted for under the percentage-of-completion method were $85.4 and $116.3 as of April 2, 2016 and December 31, 2015, respectively, and are reported as a component of ‘‘Accrued expenses’’ in the condensed consolidated balance sheets.