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SHAREHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Details 4) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jul. 02, 2016 | Apr. 02, 2016 | Jun. 27, 2015 | Jul. 02, 2016 | Jun. 27, 2015
Amounts reclassified from each component of accumulated comprehensive income |  |  |  |  |  |  |  |  |  |
Revenues | [1] | $ (412.9) |  |  | $ (459.4) |  | $ (802.2) |  | $ (835.7) |
Cost of products sold |  | 318.1 |  |  | 363.4 |  | 617.6 |  | 665.2 |
Pre-tax |  | (6.0) |  |  | 12.6 |  | (24.2) |  | 66.9 |
Income taxes |  | 2.6 |  |  | (0.8) |  | 6.1 |  | (14.1) |
Net loss (income) |  | (3.0) |  |  | (36.4) |  | (16.6) |  | (26.4) |
Recognition of foreign currency translation adjustment associated with the sale of our dry cooling business |  | 1.2 |  |  | 0.0 |  | (16.7) |  | 0.0 |
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Dry Cooling Business |  |  |  |  |  |  |  |  |  |
Amounts reclassified from each component of accumulated comprehensive income |  |  |  |  |  |  |  |  |  |
Recognition of foreign currency translation adjustment associated with the sale of our dry cooling business |  |  |  | $ (17.9) |  |  | (16.7) |  |  |
Net Unrealized Gains (Losses) on Qualifying Cash Flow Hedges |  |  |  |  |  |  |  |  |  |
Amounts reclassified from each component of accumulated comprehensive income |  |  |  |  |  |  |  |  |  |
Gains on pension and postretirement items, net of tax |  | 0.5 | [2] |  | (0.8) | [3] | 1.9 | [4],[5] | (0.2) | [6]
Net Unrealized Gains (Losses) on Qualifying Cash Flow Hedges | Amount Reclassified from AOCI |  |  |  |  |  |  |  |  |  |
Amounts reclassified from each component of accumulated comprehensive income |  |  |  |  |  |  |  |  |  |
Pre-tax |  | 0.9 |  |  | (0.6) |  | 2.6 |  | 0.1 |
Income taxes |  | (0.4) |  |  | (0.2) |  | (0.7) |  | (0.3) |
Net loss (income) |  | 0.5 |  |  | (0.8) |  | 1.9 |  | (0.2) |
Net Unrealized Gains (Losses) on Qualifying Cash Flow Hedges | FX Forward Contracts | Amount Reclassified from AOCI |  |  |  |  |  |  |  |  |  |
Amounts reclassified from each component of accumulated comprehensive income |  |  |  |  |  |  |  |  |  |
Revenues |  | 0.0 |  |  | (1.1) |  | 1.0 |  | (1.1) |
Net Unrealized Gains (Losses) on Qualifying Cash Flow Hedges | Commodity Contracts | Amount Reclassified from AOCI |  |  |  |  |  |  |  |  |  |
Amounts reclassified from each component of accumulated comprehensive income |  |  |  |  |  |  |  |  |  |
Cost of products sold |  | 0.9 |  |  | 0.5 |  | 1.6 |  | 1.2 |
Pension and Postretirement Liability Adjustment |  |  |  |  |  |  |  |  |  |
Amounts reclassified from each component of accumulated comprehensive income |  |  |  |  |  |  |  |  |  |
Amortization of unrecognized prior service credits, pre-tax |  | (0.2) |  |  | (0.2) |  | (0.4) |  | (0.4) |
Income taxes |  | 0.1 |  |  | 0.1 |  | 0.1 |  | 0.1 |
Gains on pension and postretirement items, net of tax |  | (0.1) | [7] |  | (0.1) | [8] | (0.3) | [4],[9] | (0.3) | [10]
Foreign Currency Translation Adjustment |  |  |  |  |  |  |  |  |  |
Amounts reclassified from each component of accumulated comprehensive income |  |  |  |  |  |  |  |  |  |
Gains on pension and postretirement items, net of tax |  | $ 0.0 |  |  | $ 0.0 |  | (40.4) | [4] | 0.0 |
Foreign Currency Translation Adjustment | FX Forward Contracts | Amount Reclassified from AOCI | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Dry Cooling Business |  |  |  |  |  |  |  |  |  |
Amounts reclassified from each component of accumulated comprehensive income |  |  |  |  |  |  |  |  |  |
Recognition of foreign currency translation adjustment associated with the sale of our dry cooling business |  |  |  | $ (40.4) |  |  | $ (40.4) |  | $ 0.0 |
[1] | Under the percentage-of-completion method, we recognized revenues of $110.6 and $120.9 in the three months ended July 2, 2016 and June 27, 2015, respectively. For the six months ended July 2, 2016 and June 27, 2015, revenues under the percentage of completion method were $236.6 and $246.3, respectively. Costs and estimated earnings in excess of billings on uncompleted contracts accounted for under the percentage-of-completion method were $91.7 and $106.3 as of July 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 $87.9 and $116.3 as of July 2, 2016 and December 31, 2015, respectively, and are reported as a component of ‘‘Accrued expenses’’ in the condensed consolidated balance sheets.
[2] | Net of tax benefit of $1.0 and $0.4 as of July 2, 2016 and April 2, 2016, respectively.
[3] | Net of tax benefit of $0.4 and $0.5 as of June 27, 2015 and March 28, 2015, respectively.
[4] | In connection with the sale of our dry cooling business, we reclassified $40.4 of other comprehensive income related to foreign currency translation to “Gain (loss) on sale of dry cooling business.”
[5] | Net of tax benefit of $1.0 and $0.8 as of July 2, 2016 and December 31, 2015, respectively.
[6] | Net of tax benefit of $0.4 and $1.1 as of June 27, 2015 and December 31, 2014, respectively.
[7] | Net of tax provision of $3.0 and $3.1 as of July 2, 2016 and April 2, 2016, respectively. The balances as of July 2, 2016 and April 2, 2016 represent net unamortized prior service credits.
[8] | Net of tax provision of $2.9 and $3.0 as of June 27, 2015 and March 28, 2015, respectively. The balances as of June 27, 2015 and March 28, 2015 include net unamortized prior service credits.
[9] | Net of tax provision of $3.0 and $3.1 as of July 2, 2016 and December 31, 2015. The balances as of July 2, 2016 and December 31, 2015 represent net unamortized prior service credits.
[10] | Net of tax provision of $2.9 and $3.0 as of June 27, 2015 and December 31, 2014, respectively. The balances as of June 27, 2015 and December 31, 2014 include net unamortized prior service credits.

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