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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jul. 02, 2016
Jun. 27, 2015
Jul. 02, 2016
Jun. 27, 2015
Income Statement [Abstract]        
Revenues [1] $ 412.9 $ 459.4 $ 802.2 $ 835.7
Costs and expenses:        
Cost of products sold 318.1 363.4 617.6 665.2
Selling, general and administrative 81.0 100.7 163.2 215.6
Intangible amortization 0.9 1.2 1.8 2.6
Special charges, net 2.0 2.8 2.3 5.6
Impairment of intangible assets 0.0 0.0 4.0 0.0
Gain (loss) on sale of dry cooling business (1.2) 0.0 16.7 0.0
Operating income (loss) 9.7 (8.7) 30.0 (53.3)
Other income (expense), net (0.5) 1.7 0.3 (2.9)
Interest expense (3.8) (6.5) (7.3) (12.2)
Interest income 0.2 0.4 0.4 1.0
Equity earnings in joint ventures 0.4 0.5 0.8 0.5
Income (loss) from continuing operations before income taxes 6.0 (12.6) 24.2 (66.9)
Income tax (provision) benefit (2.6) 0.8 (6.1) 14.1
Income (loss) from continuing operations 3.4 (11.8) 18.1 (52.8)
Income from discontinued operations, net of tax 0.0 48.7 0.0 80.1
Loss on disposition of discontinued operations, net of tax (0.4) (0.5) (1.5) (0.9)
Income (loss) from discontinued operations, net of tax (0.4) 48.2 (1.5) 79.2
Net income 3.0 36.4 16.6 26.4
Less: Net loss attributable to redeemable noncontrolling interests (1.0) (2.5) (0.4) (5.4)
Net income attributable to SPX Corporation common shareholders 4.0 38.9 17.0 31.8
Adjustment related to redeemable noncontrolling interest (Note 13) (18.1) 0.0 (18.1) 0.0
Net income (loss) attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest (14.1) 38.9 (1.1) 31.8
Amounts attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest:        
Income (loss) from continuing operations, net of tax (13.7) (9.7) 0.4 (48.1)
Income (loss) from discontinued operations, net of tax (0.4) 48.6 (1.5) 79.9
Net income (loss) attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest $ (14.1) $ 38.9 $ (1.1) $ 31.8
Basic income (loss) per share of common stock:        
Income (loss) from continuing operations attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest $ (0.33) $ (0.24) $ 0.01 $ (1.19)
Income (loss) from discontinued operations attributable to SPX Corporation common shareholders (0.01) 1.20 (0.04) 1.97
Net income (loss) per share attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest $ (0.34) $ 0.96 $ (0.03) $ 0.78
Weighted-average number of common shares outstanding — basic 41,594 40,602 41,443 40,553
Diluted income (loss) per share of common stock:        
Income (loss) from continuing operations attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest $ (0.33) $ (0.24) $ 0.01 $ (1.19)
Income (loss) from discontinued operations attributable to SPX Corporation common shareholders (0.01) 1.20 (0.04) 1.97
Net income (loss) per share attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest $ (0.34) $ 0.96 $ (0.03) $ 0.78
Weighted-average number of common shares outstanding — diluted 41,594 40,602 41,754 40,553
Comprehensive income (loss) $ (0.6) $ 77.3 $ (25.7) $ (63.2)
[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.