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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jul. 01, 2017
Jul. 02, 2016
Jul. 01, 2017
Jul. 02, 2016
Income Statement [Abstract]        
Revenues [1] $ 349.7 $ 371.4 $ 690.3 $ 732.0
Costs and expenses:        
Cost of products sold 273.6 280.3 526.1 551.0
Selling, general and administrative 71.4 72.8 141.0 147.1
Intangible amortization 0.1 0.9 0.3 1.8
Special charges, net 0.5 2.4 1.0 2.9
Impairment of intangible assets 0.0 0.0 0.0 4.0
Gain (loss) on sale of dry cooling business 0.0 (1.2) 0.0 16.7
Operating income 4.1 13.8 21.9 41.9
Other income (expense), net (2.1) 0.1 (2.8) 1.3
Interest expense (4.6) (3.8) (8.6) (7.3)
Interest income 0.3 0.2 0.7 0.4
Income (loss) from continuing operations before income taxes (2.3) 10.3 11.2 36.3
Income tax provision (6.0) (3.8) (9.2) (9.6)
Income (loss) from continuing operations (8.3) 6.5 2.0 26.7
Loss from discontinued operations, net of tax 0.0 (3.1) 0.0 (8.6)
Gain (loss) on disposition of discontinued operations, net of tax (0.7) (0.4) 6.4 (1.5)
Income (loss) from discontinued operations, net of tax (0.7) (3.5) 6.4 (10.1)
Net income (loss) (9.0) 3.0 8.4 16.6
Less: Net loss attributable to redeemable noncontrolling interests 0.0 (1.0) 0.0 (0.4)
Net income (loss) attributable to SPX Corporation common shareholders (9.0) 4.0 8.4 17.0
Adjustment related to redeemable noncontrolling interest (Note 13) 0.0 (18.1) 0.0 (18.1)
Net income (loss) attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest (9.0) (14.1) 8.4 (1.1)
Amounts attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest:        
Income (loss) from continuing operations, net of tax (8.3) (10.6) 2.0 9.0
Income (loss) from discontinued operations, net of tax (0.7) (3.5) 6.4 (10.1)
Net income (loss) attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest $ (9.0) $ (14.1) $ 8.4 $ (1.1)
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) $ (0.19) $ (0.25) $ 0.05 $ 0.22
Income (loss) from discontinued operations attributable to SPX Corporation common shareholders (in dollars per share) (0.02) (0.09) 0.15 (0.25)
Net income (loss) per share attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest (in dollars per share) $ (0.21) $ (0.34) $ 0.20 $ (0.03)
Weighted-average number of common shares outstanding — basic 42,388 41,594 42,249 41,443
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) $ (0.19) $ (0.25) $ 0.04 $ 0.22
Income (loss) from discontinued operations attributable to SPX Corporation common shareholders (in dollars per share) (0.02) (0.09) 0.15 (0.25)
Net income (loss) per share attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest (in dollars per share) $ (0.21) $ (0.34) $ 0.19 $ (0.03)
Weighted-average number of common shares outstanding — diluted 42,388 41,594 43,622 41,754
Comprehensive income (loss) $ (8.9) $ (0.6) $ 7.5 $ (25.7)
[1] Under the percentage-of-completion method, we recognized revenues of $65.8 and $80.1 in the three months ended July 1, 2017 and July 2, 2016, respectively. For the six months ended July 1, 2017 and July 2, 2016, revenues under the percentage-of-completion method were $144.6 and $184.4, respectively. Costs and estimated earnings in excess of billings on uncompleted contracts accounted for under the percentage-of-completion method were $31.3 and $33.9 as of July 1, 2017 and December 31, 2016, 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 $42.0 and $53.3 as of July 1, 2017 and December 31, 2016, respectively, and are reported as a component of ‘‘Accrued expenses’’ in the condensed consolidated balance sheets.