XML 12 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 9 Months Ended
Oct. 01, 2016
Sep. 26, 2015
Oct. 01, 2016
Sep. 26, 2015
Income Statement [Abstract]        
Revenues [1] $ 385.2 $ 374.1 $ 1,187.4 $ 1,209.8
Costs and expenses:        
Cost of products sold 301.2 371.2 918.8 1,036.4
Selling, general and administrative 76.3 106.8 239.5 322.4
Intangible amortization 0.8 1.3 2.6 3.9
Special charges, net 1.5 8.4 3.8 14.0
Impairment of intangible assets 0.0 0.0 4.0 0.0
Gain on sale of dry cooling business 1.7 0.0 18.4 0.0
Operating income (loss) 7.1 (113.6) 37.1 (166.9)
Other income (expense), net 0.3 (4.6) 0.6 (7.5)
Interest expense (3.8) (6.3) (11.1) (18.5)
Interest income 0.0 0.4 0.4 1.3
Loss on early extinguishment of debt (1.3) (1.4) (1.3) (1.4)
Equity earnings in joint ventures 0.3 0.3 1.1 0.8
Income (loss) from continuing operations before income taxes 2.6 (125.2) 26.8 (192.2)
Income tax (provision) benefit 0.0 (5.5) (6.1) 8.6
Income (loss) from continuing operations 2.6 (130.7) 20.7 (183.6)
Income from discontinued operations, net of tax 0.0 0.7 0.0 80.8
Loss on disposition of discontinued operations, net of tax (0.7) (0.6) (2.2) (1.5)
Income (loss) from discontinued operations, net of tax (0.7) 0.1 (2.2) 79.3
Net income (loss) 1.9 (130.6) 18.5 (104.3)
Less: Net loss attributable to redeemable noncontrolling interests 0.0 (25.6) (0.4) (31.1)
Net income (loss) attributable to SPX Corporation common shareholders 1.9 (105.0) 18.9 (73.2)
Adjustment related to redeemable noncontrolling interest (Note 13) 0.0 0.0 (18.1) 0.0
Net income (loss) attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest 1.9 (105.0) 0.8 (73.2)
Amounts attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest:        
Income (loss) from continuing operations, net of tax 2.6 (105.1) 3.0 (153.4)
Income (loss) from discontinued operations, net of tax (0.7) 0.1 (2.2) 80.2
Net income (loss) attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest $ 1.9 $ (105.0) $ 0.8 $ (73.2)
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 (in dollars per share) $ 0.06 $ (2.58) $ 0.07 $ (3.78)
Income (loss) from discontinued operations attributable to SPX Corporation common shareholders (in dollars per share) (0.02) 0.00 (0.05) 1.98
Net income (loss) per share attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest (in dollars per share) $ 0.04 $ (2.58) $ 0.02 $ (1.80)
Weighted-average number of common shares outstanding — basic 41,721 40,663 41,537 40,590
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 (in dollars per share) $ 0.06 $ (2.58) $ 0.07 $ (3.78)
Income (loss) from discontinued operations attributable to SPX Corporation common shareholders (in dollars per share) (0.02) 0.00 (0.05) 1.98
Net income (loss) per share attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest (in dollars per share) $ 0.04 $ (2.58) $ 0.02 $ (1.80)
Weighted-average number of common shares outstanding — diluted 42,475 40,663 41,884 40,590
Comprehensive loss $ (4.9) $ (170.5) $ (30.6) $ (233.7)
[1] Under the percentage-of-completion method, we recognized revenues of $111.0 and $78.8 in the three months ended October 1, 2016 and September 26, 2015, respectively. For the nine months ended October 1, 2016 and September 26, 2015, revenues under the percentage-of-completion method were $347.6 and $325.1, respectively. Costs and estimated earnings in excess of billings on uncompleted contracts accounted for under the percentage-of-completion method were $91.3 and $106.3 as of October 1, 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 $75.8 and $116.3 as of October 1, 2016 and December 31, 2015, respectively, and are reported as a component of ‘‘Accrued expenses’’ in the condensed consolidated balance sheets.