CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and equivalents	$ 66.7	$ 124.3
Accounts receivable, net	247.1	267.5
Contract assets	92.4	0.0
Inventories, net	141.9	143.0
Other current assets (includes income taxes receivable of $49.0 and $62.4 at June 30, 2018 and December 31, 2017, respectively)	74.3	97.7
Total current assets	622.4	632.5
Property, plant and equipment:
Land	19.3	15.8
Buildings and leasehold improvements	124.9	120.5
Machinery and equipment	332.7	330.4
Property, plant and equipment, gross	476.9	466.7
Accumulated depreciation	(288.7)	(280.1)
Property, plant and equipment, net	188.2	186.6
Goodwill	393.3	345.9
Intangibles, net	201.9	117.6
Other assets	688.5	706.9
Deferred income taxes	29.5	50.9
TOTAL ASSETS	2,123.8	2,040.4
Current liabilities:
Accounts payable	150.7	159.7
Contract liabilities	78.3	0.0
Accrued expenses	179.8	292.6
Income taxes payable	1.8	1.2
Short-term debt	124.1	7.0
Current maturities of long-term debt	9.2	0.5
Total current liabilities	543.9	461.0
Long-term debt	340.6	349.3
Deferred and other income taxes	31.6	29.6
Other long-term liabilities	849.1	885.8
Total long-term liabilities	1,221.3	1,264.7
Commitments and contingent liabilities (Note 14)
SPX Corporation shareholders’ equity:
Common stock (51,359,014 and 43,033,785 issued and outstanding at June 30, 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	1,305.8	1,309.8
Retained deficit	(707.9)	(742.3)
Accumulated other comprehensive income	251.5	250.1
Common stock in treasury (8,325,229 and 8,535,465 shares at June 30, 2018 and December 31, 2017, respectively)	(491.3)	(503.4)
Total equity	358.6	314.7
TOTAL LIABILITIES AND EQUITY	$ 2,123.8	$ 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.