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EMPLOYEE BENEFIT PLANS | 9 Months Ended
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Oct. 01, 2016
Compensation and Retirement Disclosure [Abstract] |
EMPLOYEE BENEFIT PLANS | EMPLOYEE BENEFIT PLANS In connection with the Spin-Off, participants in the SPX U.S. Pension Plan (the “U.S. Plan”) that were transferred to SPX FLOW became eligible to elect a lump-sum payment option in lieu of a future pension benefit under the U.S. Plan. During the second quarter of 2016, approximately 9%, or $25.2, of the projected benefit obligation of the U.S. Plan was settled as a result of lump-sum payments. In connection with these lump-sum payments, we remeasured the assets and liabilities of the U.S. Plan as of May 31, 2016, which resulted in a charge to net periodic pension benefit expense of $1.0 during the second quarter. During the second quarter of 2016, we made lump-sum payments to certain participants of the Supplemental Individual Account Retirement Plan (“SIARP”), settling approximately 22%, or $2.7, of the SIARP's projected benefit obligation. In connection with these lump-sum payments, we remeasured the liabilities of the SIARP as of June 30, 2016, which resulted in a charge to net periodic pension benefit expense of $0.8 during the second quarter. On July 14, 2015, we amended the U.S. Plan and SIARP to freeze all benefits for active non-union participants. The amendments resulted in a curtailment gain of $5.1 during the third quarter of 2015. In connection with the amendments, we remeasured the assets and liabilities of the U.S. Plan and the SIARP as of June 30, 2015, which resulted in a charge to net periodic pension benefit expense of $11.4 during the third quarter of 2015. Net periodic benefit expense (income) for our pension and postretirement plans included the following components: Domestic Pension Plans
| Three months ended |  | Nine months ended
| October 1, 2016 |  | September 26, 2015 |  | October 1, 2016 |  | September 26, 2015
Service cost | $ | 0.1 |  |  | $ | 0.4 |  |  | $ | 0.3 |  |  | $ | 2.2 |
Interest cost | 3.3 |  |  | 4.3 |  |  | 10.4 |  |  | 12.9 |
Expected return on plan assets | (3.2 | ) |  | (4.5 | ) |  | (9.6 | ) |  | (14.3 | )
Curtailment gain (1) | — |  |  | (5.1 | ) |  | — |  |  | (5.1 | )
Recognized net actuarial loss (2) | — |  |  | 11.4 |  |  | 1.8 |  |  | 11.4 |
Amortization of unrecognized prior service credits | (0.1 | ) |  | — |  |  | (0.1 | ) |  | — |
Total net periodic pension benefit expense | $ | 0.1 |  |  | $ | 6.5 |  |  | $ | 2.8 |  |  | $ | 7.1 |
___________________________
(1) | Represents a curtailment gain recorded during the third quarter of 2015 in connection with the amendments of the U.S. Plan and SIARP noted above.
(2) | Represents actuarial losses resulting from the remeasurement of the assets and obligations of the U.S. Plan and the SIARP during the second quarter of 2016 and third quarter of 2015, which was required in connection with the lump-sum payments and plan amendments noted above.
Foreign Pension Plans
| Three months ended |  | Nine months ended
| October 1, 2016 |  | September 26, 2015 |  | October 1, 2016 |  | September 26, 2015
Service cost | $ | — |  |  | $ | 0.4 |  |  | $ | — |  |  | $ | 1.2 |
Interest cost | 1.4 |  |  | 2.0 |  |  | 4.3 |  |  | 6.0 |
Expected return on plan assets | (1.5 | ) |  | (2.4 | ) |  | (5.0 | ) |  | (7.3 | )
Recognized net actuarial loss | — |  |  | 0.7 |  |  | — |  |  | 0.7 |
Total net periodic pension benefit (income) expense | (0.1 | ) |  | 0.7 |  |  | (0.7 | ) |  | 0.6 |
Less: Net periodic pension benefit expense of discontinued operations | — |  |  | 0.7 |  |  | — |  |  | 2.0 |
Net periodic pension benefit income of continuing operations | $ | (0.1 | ) |  | $ | — |  |  | $ | (0.7 | ) |  | $ | (1.4 | )
Postretirement Plans
| Three months ended |  | Nine months ended
| October 1, 2016 |  | September 26, 2015 |  | October 1, 2016 |  | September 26, 2015
Service cost | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost | 1.1 |  |  | 1.1 |  |  | 3.2 |  |  | 3.3 |
Amortization of unrecognized prior service credits | (0.2 | ) |  | (0.2 | ) |  | (0.6 | ) |  | (0.6 | )
Net periodic postretirement benefit expense | $ | 0.9 |  |  | $ | 0.9 |  |  | $ | 2.6 |  |  | $ | 2.7 |

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