CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and equivalents	$ 103.7	$ 124.3
Accounts receivable, net	214.7	267.5
Contract assets	98.3	0.0
Inventories, net	109.3	143.0
Other current assets (includes income taxes receivable of $41.8 and $62.4 at March 31, 2018 and December 31, 2017, respectively)	72.5	97.7
Total current assets	598.5	632.5
Property, plant and equipment:
Land	16.4	15.8
Buildings and leasehold improvements	122.7	120.5
Machinery and equipment	333.2	330.4
Property, plant and equipment, gross	472.3	466.7
Accumulated depreciation	(286.5)	(280.1)
Property, plant and equipment, net	185.8	186.6
Goodwill	349.3	345.9
Intangibles, net	128.8	117.6
Other assets	697.4	706.9
Deferred income taxes	52.3	50.9
TOTAL ASSETS	2,012.1	2,040.4
Current liabilities:
Accounts payable	145.0	159.7
Contract liabilities	88.5	0.0
Accrued expenses	180.8	292.6
Income taxes payable	2.2	1.2
Short-term debt	6.8	7.0
Current maturities of long-term debt	4.9	0.5
Total current liabilities	428.2	461.0
Long-term debt	344.9	349.3
Deferred and other income taxes	33.0	29.6
Other long-term liabilities	872.8	885.8
Total long-term liabilities	1,250.7	1,264.7
Commitments and contingent liabilities (Note 14)
SPX Corporation shareholders’ equity:
Common stock (51,284,268 and 42,948,462 issued and outstanding at March 31, 2018, respectively, and 51,186,064 and 42,650,599 issued and outstanding at December 31, 2017, respectively)	0.5	0.5
Paid-in capital	1,300.4	1,309.8
Retained deficit	(730.9)	(742.3)
Accumulated other comprehensive income	254.5	250.1
Common stock in treasury (8,335,806 and 8,535,465 shares at March 31, 2018 and December 31, 2017, respectively)	(491.3)	(503.4)
Total equity	333.2	314.7
TOTAL LIABILITIES AND EQUITY	$ 2,012.1	$ 2,040.4

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.