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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Oct. 01, 2016
Sep. 30, 2017
Oct. 01, 2016
Income Statement [Abstract]        
Revenues [1] $ 348.5 $ 345.0 $ 1,038.8 $ 1,077.0
Costs and expenses:        
Cost of products sold 263.4 264.2 789.5 815.2
Selling, general and administrative 62.9 68.5 203.9 215.6
Intangible amortization 0.2 0.8 0.5 2.6
Special charges, net 1.0 1.9 2.0 4.8
Impairment of intangible assets 0.0 0.0 0.0 4.0
Gain on contract settlement 10.2 0.0 10.2 0.0
Gain on sale of dry cooling business 0.0 1.7 0.0 18.4
Operating income 31.2 11.3 53.1 53.2
Other income (expense), net (0.3) 0.9 (3.1) 2.2
Interest expense (4.3) (3.8) (12.9) (11.1)
Interest income 0.2 0.0 0.9 0.4
Loss on early extinguishment of debt 0.0 (1.3) 0.0 (1.3)
Income from continuing operations before income taxes 26.8 7.1 38.0 43.4
Income tax provision (4.8) (0.5) (14.0) (10.1)
Income from continuing operations 22.0 6.6 24.0 33.3
Loss from discontinued operations, net of tax 0.0 (4.0) 0.0 (12.6)
Gain (loss) on disposition of discontinued operations, net of tax 0.3 (0.7) 6.7 (2.2)
Income (loss) from discontinued operations, net of tax 0.3 (4.7) 6.7 (14.8)
Net income 22.3 1.9 30.7 18.5
Less: Net loss attributable to redeemable noncontrolling interests 0.0 0.0 0.0 (0.4)
Net income attributable to SPX Corporation common shareholders 22.3 1.9 30.7 18.9
Adjustment related to redeemable noncontrolling interest (Note 13) 0.0 0.0 0.0 (18.1)
Net income attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest 22.3 1.9 30.7 0.8
Amounts attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest:        
Income from continuing operations, net of tax 22.0 6.6 24.0 15.6
Income (loss) from discontinued operations, net of tax 0.3 (4.7) 6.7 (14.8)
Net income attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest $ 22.3 $ 1.9 $ 30.7 $ 0.8
Basic income 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) $ 0.51 $ 0.16 $ 0.56 $ 0.38
Income (loss) from discontinued operations attributable to SPX Corporation common shareholders (in dollars per share) 0.01 (0.12) 0.16 (0.36)
Net income (loss) per share attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest (in dollars per share) $ 0.52 $ 0.04 $ 0.72 $ 0.02
Weighted-average number of common shares outstanding — basic 42,540 41,721 42,347 41,537
Diluted income 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) $ 0.50 $ 0.16 $ 0.55 $ 0.37
Income (loss) from discontinued operations attributable to SPX Corporation common shareholders (in dollars per share) 0.01 (0.12) 0.15 (0.35)
Net income (loss) per share attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest (in dollars per share) $ 0.51 $ 0.04 $ 0.70 $ 0.02
Weighted-average number of common shares outstanding — diluted 44,064 42,475 43,728 41,884
Comprehensive income (loss) $ 41.4 $ (4.9) $ 48.9 $ (30.6)
[1] Under the percentage-of-completion method, we recognized revenues of $67.0 and $78.3 in the three months ended September 30, 2017 and October 1, 2016, respectively. For the nine months ended September 30, 2017 and October 1, 2016, revenues under the percentage-of-completion method were $211.6 and $262.7, respectively. Costs and estimated earnings in excess of billings on uncompleted contracts accounted for under the percentage-of-completion method were $41.0 and $33.9 as of September 30, 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 $19.7 and $53.3 as of September 30, 2017 and December 31, 2016, respectively, and are reported as a component of ‘‘Accrued expenses’’ in the condensed consolidated balance sheets.