XML 13 R3.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions
Oct. 01, 2016
Dec. 31, 2015
Current assets:    
Cash and equivalents $ 83.4 $ 101.4
Accounts receivable, net 318.0 367.0
Inventories, net 176.7 [1] 170.7
Other current assets 50.7 36.1
Assets held for sale 0.0 107.1
Total current assets 628.8 782.3
Property, plant and equipment:    
Land 16.4 16.3
Buildings and leasehold improvements 125.2 120.4
Machinery and equipment 359.8 357.2
Property, plant and equipment, gross 501.4 493.9
Accumulated depreciation (291.3) (274.4)
Property, plant and equipment, net 210.1 219.5
Goodwill 343.7 342.8
Intangibles, net 145.1 [2] 154.2
Other assets 615.9 629.6
Deferred income taxes 45.9 50.9
TOTAL ASSETS 1,989.5 2,179.3
Current liabilities:    
Accounts payable 143.3 176.9
Accrued expenses 356.4 403.7
Income taxes payable 2.0 1.7
Short-term debt 14.9 22.1
Current maturities of long-term debt 17.9 9.1
Liabilities held for sale 0.0 41.3
Total current liabilities 534.5 654.8
Long-term debt 331.2 340.6
Deferred and other income taxes 46.4 55.2
Other long-term liabilities 804.0 820.4
Total long-term liabilities 1,181.6 1,216.2
Commitments and contingent liabilities (Note 13)
SPX Corporation shareholders’ equity:    
Common stock (100,665,453 and 41,853,173 issued and outstanding at October 1, 2016, respectively, 100,525,876 and 41,415,909 issued and outstanding at December 31, 2015, respectively) 1.0 1.0
Paid-in capital 2,588.0 2,649.6
Retained earnings 916.7 897.8
Accumulated other comprehensive income 235.4 283.3
Common stock in treasury (58,812,280 and 59,109,967 shares at October 1, 2016 and December 31, 2015, respectively) (3,467.7) (3,486.3)
Total SPX Corporation shareholders’ equity 273.4 345.4
Noncontrolling interests 0.0 (37.1)
Total equity 273.4 308.3
TOTAL LIABILITIES AND EQUITY $ 1,989.5 $ 2,179.3
[1] The balance at December 31, 2015 includes $12.9 related to our dry cooling business. As previously noted, the assets and liabilities of the dry cooling business have been classified as “held for sale” in the accompanying condensed consolidated balance sheet as of December 31, 2015. See Note 3 for information on the assets and liabilities of the dry cooling business as of December 31, 2015.
[2] Changes in the gross carrying values of “Other Intangibles, Net” during the nine months ended October 1, 2016 related to the sale of our dry cooling business, the impairment charge related to the Heat Transfer trademarks noted above, and, to a lesser extent, foreign currency translation.