CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Millions, except Share data in Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jul. 02, 2011	Jul. 03, 2010	Jul. 02, 2011	Jul. 03, 2010
Revenues	$ 1,384.0	$ 1,188.8	$ 2,583.0	$ 2,273.4
Costs and expenses:
Cost of products sold	1,000.7	835.8	1,850.4	1,607.2
Selling, general and administrative	281.5	254.5	569.1	502.8
Intangible amortization	9.3	6.4	16.5	12.6
Impairment of goodwill and other intangible assets	24.7		24.7
Special charges, net	8.9	4.4	12.0	11.2
Operating income	58.9	87.7	110.3	139.6
Other income (expense), net	(1.8)	(1.8)	0.9	(13.9)
Interest expense	(23.8)	(20.6)	(47.8)	(41.1)
Interest income	1.5	1.3	2.8	2.9
Equity earnings in joint ventures	5.0	7.2	13.8	15.9
Income from continuing operations before income taxes	39.8	73.8	80.0	103.4
Income tax provision	(7.5)	(4.2)	(21.0)	(15.9)
Income from continuing operations	32.3	69.6	59.0	87.5
Loss from discontinued operations, net of tax		(0.2)		(0.4)
Gain on disposition of discontinued operations, net of tax	2.7	8.6	0.8	12.2
Income from discontinued operations, net of tax	2.7	8.4	0.8	11.8
Net income	35.0	78.0	59.8	99.3
Less: Net income (loss) attributable to noncontrolling interests	0.7	(0.8)	2.4	(1.6)
Net income attributable to SPX Corporation common shareholders	34.3	78.8	57.4	100.9
Amounts attributable to SPX Corporation common shareholders:
Income from continuing operations, net of tax	31.6	70.4	56.6	89.1
Income from discontinued operations, net of tax	2.7	8.4	0.8	11.8
Net income	$ 34.3	$ 78.8	$ 57.4	$ 100.9
Basic income per share of common stock:
Income from continuing operations attributable to SPX Corporation common shareholders (in dollars per share)	$ 0.63	$ 1.42	$ 1.12	$ 1.79
Income from discontinued operations attributable to SPX Corporation common shareholders (in dollars per share)	$ 0.05	$ 0.17	$ 0.02	$ 0.24
Net income per share attributable to SPX Corporation common shareholders (in dollars per share)	$ 0.68	$ 1.59	$ 1.14	$ 2.03
Weighted-average number of common shares outstanding - basic (in shares)	50,554	49,657	50,410	49,594
Diluted income per share of common stock:
Income from continuing operations attributable to SPX Corporation common shareholders (in dollars per share)	$ 0.62	$ 1.40	$ 1.11	$ 1.78
Income from discontinued operations attributable to SPX Corporation common shareholders (in dollars per share)	$ 0.05	$ 0.17	$ 0.01	$ 0.23
Net income per share attributable to SPX Corporation common shareholders (in dollars per share)	$ 0.67	$ 1.57	$ 1.12	$ 2.01
Weighted-average number of common shares outstanding - diluted (in shares)	51,365	50,294	51,158	50,109

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Millions, unless otherwise specified	Jul. 02, 2011	Dec. 31, 2010
Current assets:
Cash and equivalents	$ 395.1	$ 455.4
Accounts receivable, net	1,301.3	1,164.8
Inventories	665.9	564.3
Other current assets	147.9	176.1
Deferred income taxes	53.0	67.9
Total current assets	2,563.2	2,428.5
Property, plant and equipment:
Land	40.3	40.8
Buildings and leasehold improvements	275.6	264.1
Machinery and equipment	817.9	767.1
Property, plant and equipment, gross	1,133.8	1,072.0
Accumulated depreciation	(564.6)	(526.8)
Property, plant and equipment, net	569.2	545.2
Goodwill	1,688.5	1,634.6
Intangibles, net	742.2	719.5
Deferred income taxes	11.7
Other assets	673.0	665.5
TOTAL ASSETS	6,247.8	5,993.3
Current liabilities:
Accounts payable	638.0	538.8
Accrued expenses	1,009.2	1,080.1
Income taxes payable	9.7	16.3
Short-term debt	134.8	36.3
Current maturities of long-term debt	1.3	50.8
Total current liabilities	1,793.0	1,722.3
Long-term debt	1,110.7	1,110.5
Deferred and other income taxes	80.0	86.9
Other long-term liabilities	970.4	969.6
Total long-term liabilities	2,161.1	2,167.0
Commitments and contingent liabilities (Note 13)
SPX Corporation shareholders' equity:
Common stock (98,711,783 and 51,083,691 issued and outstanding at July 2, 2011, respectively, and 98,068,416 and 50,294,261 issued and outstanding at December 31, 2010, respectively)	992.0	986.7
Paid-in capital	1,484.5	1,461.1
Retained earnings	2,390.5	2,358.6
Accumulated other comprehensive loss	(69.2)	(192.6)
Common stock in treasury (47,628,092 and 47,774,155 shares at July 2, 2011 and December 31, 2010, respectively)	(2,510.4)	(2,516.1)
Total SPX Corporation shareholders' equity	2,287.4	2,097.7
Noncontrolling interests	6.3	6.3
Total equity	2,293.7	2,104.0
TOTAL LIABILITIES AND EQUITY	$ 6,247.8	$ 5,993.3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical)	Jul. 02, 2011	Dec. 31, 2010
CONDENSED CONSOLIDATED BALANCE SHEETS
Common stock, shares issued	98,771,783	98,068,416
Common stock, shares outstanding	51,083,691	50,294,261
Common stock in treasury, shares	47,628,092	47,774,155

Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any.

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jul. 02, 2011	Jul. 03, 2010
Cash flows from operating activities:
Net income	$ 59.8	$ 99.3
Less: Income (loss) from discontinued operations, net of tax	0.8	11.8
Income from continuing operations	59.0	87.5
Adjustments to reconcile income from continuing operations to net cash from operating activities:
Special charges, net	12.0	11.2
Impairment of goodwill and other intangible assets	24.7
Deferred and other income taxes	(8.6)	11.7
Depreciation and amortization	58.7	55.9
Pension and other employee benefits	29.5	34.5
Stock-based compensation	26.7	20.1
Other, net	3.7	2.2
Changes in operating assets and liabilities, net of effects from acquisitions and divestitures:
Accounts receivable and other assets	(77.9)	(138.8)
Inventories	(81.4)	13.9
Accounts payable, accrued expenses, and other	(18.1)	(57.6)
Cash spending on restructuring actions	(15.5)	(17.2)
Net cash from continuing operations	12.8	23.4
Net cash used in discontinued operations	(2.3)	(2.9)
Net cash from operating activities	10.5	20.5
Cash flows used in investing activities:
Proceeds from asset sales and other	0.2	2.1
Increase in restricted cash	(3.4)	(4.9)
Business acquisitions and other investments, net of cash acquired	(52.4)	(58.3)
Capital expenditures	(46.9)	(23.6)
Net cash used in continuing operations	(102.5)	(84.7)
Net cash from discontinued operations (includes net cash proceeds from dispositions of $7.4 for the six months ended July 3, 2010)		7.4
Net cash used in investing activities	(102.5)	(77.3)
Cash flows from (used in) financing activities:
Borrowings under senior credit facilities	375.0	111.0
Repayments under senior credit facilities	(340.0)	(110.0)
Repayments of senior notes	(49.5)
Borrowings under trade receivables agreement	86.0	10.0
Repayments under trade receivables agreement	(29.0)	(11.0)
Net borrowings under other financing arrangements	5.8	0.1
Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options and other	(0.9)	(6.6)
Financing fees paid	(11.2)	(1.0)
Dividends paid (includes noncontrolling interest distributions of $2.9 and $0.3 for the six months ended July 2, 2011 and July 3, 2010, respectively)	(28.1)	(25.1)
Net cash from (used in) continuing operations	8.1	(32.6)
Net cash from (used in) financing activities	8.1	(32.6)
Change in cash and equivalents due to changes in foreign currency exchange rates	23.6	(25.4)
Net change in cash and equivalents	(60.3)	(114.8)
Consolidated cash and equivalents, beginning of period	455.4	522.9
Consolidated cash and equivalents, end of period	$ 395.1	$ 408.1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jul. 02, 2011	Jul. 03, 2010
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Discontinued operations, net cash proceeds from dispositions		$ 7.4
Dividends paid, noncontrolling interest distributions	$ 2.9	$ 0.3

- Definition

The cash outflow for the return on capital for noncontrolled interest in the entity.

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BASIS OF PRESENTATION

6 Months Ended

Jul. 02, 2011

BASIS OF PRESENTATION

BASIS OF PRESENTATION

(1) BASIS OF PRESENTATION

We prepared the condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules and regulations, certain footnotes or other financial information that are normally required by accounting principles generally accepted in the United States (“GAAP”) can be condensed or omitted. In our opinion, the financial statements include the adjustments (consisting only of normal and recurring items) necessary for their fair presentation and represent our accounts after the elimination of intercompany transactions.

Investments in unconsolidated companies where we exercise significant influence but do not have control are accounted for using the equity method. In determining whether we are the primary beneficiary of a variable interest entity (“VIE”), we perform a qualitative analysis that considers the design of the VIE, the nature of our involvement and the variable interests held by other parties to determine which party has the power to direct the activities of the VIE that most significantly impact the entity’s economic performance, and the obligation to absorb losses or the right to receive benefits of the entity that could potentially be significant to the VIE. We do have interests in VIEs, primarily joint ventures, in which we are the primary beneficiary and others in which we are not. All our VIEs are considered immaterial, individually and in the aggregate, to our consolidated financial statements.

Our only significant investment reported under the equity method is our 44.5% interest in the EGS Electrical Group, LLC and subsidiaries (“EGS”) joint venture, which we account for on a three-month lag. EGS’s revenues and our equity earnings from our investment in EGS, as included in our condensed consolidated statements of operations, totaled $114.3 and $4.8 and $104.2 and $6.8 for the three months ended July 2, 2011 and July 3, 2010, respectively. For the six months ended July 2, 2011 and July 3, 2010, EGS’s revenues and our equity earnings from our investment in EGS, as included in our condensed consolidated statements of operations, totaled $233.3 and $13.3 and $216.1 and $15.1, respectively. During the second quarter of 2010, EGS acquired Nutsteel Industria Metalurgica Ltda for $35.4. We contributed $15.8 to EGS to fund our portion of the acquisition price.

Preparing financial statements requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Actual results could differ from these estimates. The unaudited information included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements contained in our 2010 Annual Report on Form 10-K. Interim results are not necessarily indicative of expected results for a full year. We have reclassified certain prior year amounts related to discontinued operations to conform to the current year presentation. Unless otherwise indicated, amounts provided in these Notes pertain to continuing operations (see Note 3 for information on discontinued operations).

We establish actual interim closing dates using a “fiscal” calendar, which requires our businesses to close their books on the Saturday closest to the end of the calendar quarter for the first quarter, with the second and third quarters being 91 days in length. Our fourth quarter ends on December 31. The interim closing dates for the first, second and third quarters of 2011 are April 2, July 2 and October 1, compared to the respective April 3, July 3 and October 2, 2010 dates. This practice only affects the quarterly reporting periods and not the annual reporting period. We had one fewer day in the first quarter of 2011 and will have one more day in the fourth quarter of 2011 than in the respective 2010 periods.

- Definition

The entire disclosure for the organization, consolidation and basis of presentation of financial statements disclosure, and significant accounting policies of the reporting entity. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements.

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NEW ACCOUNTING PRONOUNCEMENTS

6 Months Ended

Jul. 02, 2011

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS

(2) NEW ACCOUNTING PRONOUNCEMENTS

The following is a summary of new accounting pronouncements that apply or may apply to our business.

In September 2009, the Financial Accounting Standards Board (“FASB”) issued guidance with the objective of amending revenue recognition for arrangements with multiple deliverables. The guidance eliminates one previous revenue recognition criterion so that objective and reliable evidence of fair value for undelivered item(s), in a multiple element deliverable arrangement in which the delivered item or items are considered a separate unit or units, is no longer required. The guidance also determines a hierarchy for an entity to use when estimating the selling price of deliverables that meet the other two conditions for separation as follows: (1) vendor-specific objective evidence of the selling price, (2) third-party evidence of the selling price, or (3) an estimate of the selling price. In addition, the term “selling price” replaces all references to fair value in the guidance. The guidance also has eliminated the residual allocation method and requires an entity to apply the relative selling price allocation method in all circumstances where there is an absence of objective and reliable evidence for the delivered item(s) in an arrangement. Lastly, the guidance requires enhanced disclosures about the judgments and assumptions used in evaluating arrangements. Entities may elect to apply this guidance (1) prospectively to new or materially modified arrangements after the effective date or (2) retrospectively for all periods presented. The guidance is effective for fiscal years beginning on or after June 15, 2010. We adopted this guidance on January 1, 2011 with no material impact on our consolidated financial statements.

In September 2009, the FASB issued an amendment to guidance related to revenue recognition for certain revenue arrangements that include software elements. The amendment was to the scope of prior guidance, such that all tangible products containing both software and non-software components that function together to deliver the product’s essential functionality will no longer be within the scope of the Software Revenue Recognition Topic of the Accounting Standard Codification (“Codification”). That is, the entire product (including the software deliverables and non-software deliverables) would be outside the scope of revenue recognition guidance specific to software and would be accounted for under other accounting literature. Lastly, the guidance requires enhanced disclosures about the judgments and assumptions used in evaluating arrangements. Entities may elect to apply this guidance (1) prospectively to new or materially modified arrangements after the effective date or (2) retrospectively for all periods presented. The guidance is effective for fiscal years beginning on or after June 15, 2010. We adopted this guidance on January 1, 2011 with no material impact on our consolidated financial statements.

In December 2010, the FASB issued guidance to modify the goodwill impairment test by eliminating an entity’s ability to assert that a reporting unit is not required to perform Step 2 of the goodwill impairment test if the carrying amount of the reporting unit is zero or negative, despite the existence of qualitative factors that indicate that the goodwill is more likely than not impaired. For such reporting units, an entity is required to perform Step 2 of the goodwill impairment test if it is more likely than not that goodwill impairment exists. In determining whether it is more likely than not that a goodwill impairment exists, an entity should consider whether there are any adverse qualitative factors indicating that impairment may exist. The qualitative factors are consistent with the existing guidance, which requires that goodwill of a reporting unit be tested for impairment between interim or annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The guidance is effective for the first reporting period beginning after December 15, 2010. We adopted the guidance on January 1, 2011 with no material impact on our consolidated financial statements.

In December 2010, the FASB issued guidance to clarify that if a public entity presents comparative financial statements for business combinations that are material on an individual or aggregate basis, the entity should disclose revenues and earnings of the combined entity as though the business combination had occurred as of the beginning of the comparable prior annual reporting period only. Additionally, the guidance expands the supplemental pro forma disclosures to include a description of the nature and amount of material, nonrecurring, adjustments directly attributable to the business combination included in the reported pro forma revenue and earnings. The guidance is effective prospectively for business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2010. We adopted the guidance on January 1, 2011 with no material impact on our consolidated financial statements.

In June 2011, the FASB issued guidance to revise the presentation of comprehensive income by requiring entities to report components of comprehensive income in either a single continuous statement of comprehensive income or two separate but consecutive statements. The single continuous statement of comprehensive income must include the components of net income, a total for net income, the components of other comprehensive income (“OCI”), a total for OCI, and a total for comprehensive income. The separate but consecutive statements must report components of net income and total net income in the statement of net income, which must be immediately followed by a statement of OCI that must include the components of OCI, a total for OCI, and a total for comprehensive income. Each method requires entities to display adjustments for items that are reclassified from OCI to net income in both net income and OCI. The guidance is effective for the first reporting period beginning after December 15, 2011 and must be applied retrospectively for all periods presented in the financial statements. Early adoption is permitted. We have not yet adopted this guidance and do not expect the adoption to have a material impact on our consolidated financial statements.

- Definition

The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period.

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ACQUISITIONS AND DISCONTINUED OPERATIONS

6 Months Ended

Jul. 02, 2011

ACQUISITIONS AND DISCONTINUED OPERATIONS

ACQUISITIONS AND DISCONTINUED OPERATIONS

(3) ACQUISITIONS AND DISCONTINUED OPERATIONS

Acquisitions

In March 2011, in the Test and Measurement segment, we completed the acquisition of substantially all of the assets of Teradyne Inc.’s Diagnostic Solutions business (“DS”), a global supplier of diagnostic solutions for transportation OEMs and automotive dealerships, for a purchase price of $40.2, after payment of a working capital settlement of $1.1 during the second quarter of 2011. DS had revenues of approximately $42.0 in the twelve months prior to the date of acquisition.

In March 2011, in the Flow Technology segment, we completed the acquisition of B.W. Murdoch Ltd. (“Murdoch”), an engineering company supplying processing solutions for the food and beverage industry, for a purchase price of $8.1, after adjusting for a working capital settlement of $0.7 during the second quarter of 2011. Murdoch had revenues of approximately $13.0 in the twelve months prior to the date of acquisition.

In July 2010, in the Flow Technology segment, we completed the acquisition of the Anhydro business (“Anhydro”), a global supplier of liquid concentration equipment, powder processing solutions, and dewatering plants and equipment, for a purchase price of $59.1, net of cash acquired of $10.9. Anhydro had revenues of approximately $71.0 in the twelve months prior to the date of acquisition.

In April 2010, in the Industrial Products and Services segment, we completed the acquisition of Torque Tension Systems Ltd. (“TTS”), a global supplier of hydraulic torque wrench and tensioner tool products, for a purchase price of $15.7, net of cash acquired of $2.4. TTS had revenues of approximately $9.0 in the twelve months prior to the date of acquisition.

In February 2010, in the Flow Technology segment, we completed the acquisition of Gerstenberg Schröder A/S (“Gerstenberg”), a designer, manufacturer, installer and servicer of processing systems and components serving the global food industry, for a purchase price of $30.9, net of cash acquired of $3.5 and including debt assumed of $3.9. Gerstenberg had revenues of approximately $57.0 in the twelve months prior to the date of acquisition.

The pro forma effects of these acquisitions were not material, individually or in the aggregate, to our results of operations.

The assets acquired and liabilities assumed were recorded at preliminary estimates of fair value as determined by management, based on information available at the acquisition date and on current assumptions as to future operations, and are subject to change during the measurement period upon the completion of acquisition accounting, including the finalization of asset valuations and any working capital settlements.

Discontinued Operations

As part of our operating strategy, we regularly review and negotiate potential divestitures, some of which are or may be material. As a result of this continuous review, we determined that certain of our businesses would be better strategic fits with other companies or investors.

We report businesses or asset groups as discontinued operations when, among other things, we commit to a plan to divest the business or asset group, actively begin marketing the business or asset group, and when the sale of the business or asset group is deemed probable within the next twelve months. The following businesses, which have been sold, met these requirements and therefore have been reported as discontinued operations for the periods presented.

Business	Quarter Discontinued	Quarter of Sale
Cooling Spain Packaging business (“Cooling Spain”)	Q4 2010	Q4 2010
P.S.D., Inc. (“PSD”)	Q2 2009	Q1 2010

Cooling Spain — Sold for cash consideration of one Euro (exclusive of cash transferred with the business of $2.3), resulting in a loss, net of taxes, of $1.9 during the fourth quarter of 2010. During the first quarter of 2011, we recorded a net charge of $0.1 to “Gain (loss) on disposition of discontinued operations, net of tax” within our condensed consolidated statements of operations in connection with adjustments to certain liabilities that we retained.

PSD — Sold for cash consideration of $3.0, resulting in a gain, net of taxes, of $3.6 during the first quarter 2010.

In addition to the businesses discussed above, we recognized a net gain of $2.7 and $0.9 during the three and six months ended July 2, 2011, respectively, and a net gain of $1.3 during the three and six months ended July 3, 2010, resulting from adjustments to gains/losses on sales from previously discontinued businesses. Refer to the consolidated financial statements contained in our 2010 Annual Report on Form 10-K for the disclosure of all discontinued businesses during the 2008 through 2010 period.

During the second quarter of 2010, the field examinations of our 2006 and 2007 federal income tax returns were completed by the Internal Revenue Service (“IRS”). In connection with the completion of these examinations, we reduced our liability for uncertain tax positions and recognized an income tax benefit of $7.3 to “Gain (loss) on disposition of discontinued operations, net of tax” associated with a business previously disposed of and reported as a discontinued operation.

The final sales price for certain of the divested businesses is subject to adjustment based on working capital existing at the respective closing dates. The working capital figures are subject to agreement with the buyers or, if we cannot come to agreement, an arbitration process. Final agreement of the working capital figures for certain of these transactions has yet to occur. In addition, changes in estimates associated with liabilities retained in connection with a business divestiture (e.g., income taxes) may occur. It is possible that the sales price and resulting gains/losses on these, and other previous divestitures, may be materially adjusted in subsequent periods.

For the three and six months ended July 2, 2011 and July 3, 2010, income (loss) from discontinued operations and the related income taxes are shown below:

	Three months ended					Six months ended
	July 2,			July 3,		July 2,			July 3,
	2011			2010		2011			2010
Income (loss) from discontinued operations	$	(0.6	)	$	—	$	(2.7	)	$	2.0
Income tax benefit	3.3			8.4		3.5			9.8
Income from discontinued operations, net	$	2.7		$	8.4	$	0.8		$	11.8

For the three and six months ended July 2, 2011 and July 3, 2010, results of operations for our businesses reported as discontinued operations were as follows:

	Three months ended					Six months ended
	July 2,		July 3,			July 2,		July 3,
	2011		2010			2011		2010
Revenues	$	—	$	0.9		$	—	$	3.8
Pre-tax loss	—		(0.2		)	—		(0.4		)

There were no assets or liabilities attributable to discontinued operations at July 2, 2011 and December 31, 2010.

BUSINESS SEGMENT INFORMATION

6 Months Ended

Jul. 02, 2011

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION

(4) BUSINESS SEGMENT INFORMATION

We are a global provider of flow technology, test and measurement products and services, thermal equipment and services and industrial products and services with operations in over 35 countries. We offer a diverse collection of products, such as, valves, fluid handling equipment, metering and mixing solutions, specialty service tools, diagnostic systems, service equipment and technical information services, cooling, heating and ventilation products, power transformers, and TV and radio broadcast antennas. Our products are used by a broad array of customers in various industries, including food and beverage processing, power generation, chemical processing, pharmaceuticals, infrastructure, mineral processing, petrochemical, automotive service, telecommunications and transportation.

We aggregate our operating segments into four reportable segments: Flow Technology, Test and Measurement, Thermal Equipment and Services and Industrial Products and Services. The factors considered in determining our aggregated segments are the economic similarity of the businesses, the nature of products sold or services provided, production processes, types of customers and distribution methods. In determining our segments, we apply the threshold criteria of the Segment Reporting Topic of the Codification to operating income or loss of each segment before considering impairment and special charges, pensions and postretirement expense, stock-based compensation and other indirect corporate expenses (“Segment income”). This is consistent with the way our chief operating decision maker evaluates the results of each segment.

Flow Technology

Our Flow Technology segment designs, manufactures and markets products and solutions that are used to process, blend, filter, dry, meter and transport fluids with a focus on creating innovative new products and systems and also provides comprehensive aftermarket support services. Primary offerings include engineered pumps, mixers, process systems, heat exchangers, valves, and dehydration and drying technologies. The segment continues to focus on optimizing its global footprint while taking advantage of cross-product integration opportunities and increasing its competitive position in global end markets. Flow Technology’s solutions focus on key business drivers, such as product flexibility, process optimization, sustainability and safety.

Test and Measurement

Our Test and Measurement segment engineers and manufactures branded, technologically advanced test and measurement products used on a global basis across the transportation, telecommunications and utility industries. Our technology supports the introduction of new systems, expanded services and sophisticated testing and validation. Primary offerings include specialty automotive diagnostic service tools, fare-collection systems and portable cable and pipe locators. The segment continues to focus on global expansion, with a specific focus on China and India.

Thermal Equipment and Services

Our Thermal Equipment and Services segment engineers, manufactures and services cooling, heating and ventilation products for markets throughout the world. Primary offerings include dry, wet and hybrid cooling systems for the power generation, refrigeration, HVAC and industrial markets, as well as boilers, heating and ventilation products for the commercial and residential markets. This segment also provides thermal components for power generation plants and engineered services to maintain, refurbish, upgrade and modernize power stations. The segment continues to focus on expanding its global reach, including increasing its dry cooling, heating and ventilation presence in Asia, as well as its thermal components and service offerings. The segment’s South African subsidiary has a Black Economic Empowerment noncontrolling interest shareholder, which holds a 25.1% interest.

Industrial Products and Services

Our Industrial Products and Services segment comprises businesses that design, manufacture and market power systems, industrial tools and hydraulic units, precision machine components for the aerospace industry, crystal growing machines for the solar power generation market, television, radio and cell phone and data transmission broadcast antenna systems, communications and signal monitoring systems, and precision controlled industrial ovens and chambers. This segment continues to focus on global expansion opportunities.

Corporate Expense

Corporate expense generally relates to the cost of our Charlotte, NC corporate headquarters and our Asia Pacific center in Shanghai, China.

Financial data for our business segments, including the results of acquisitions from the respective dates of acquisition, were as follows:

	Three months ended						Six months ended
	July 2,			July 3,			July 2,			July 3,
	2011			2010			2011			2010
Revenues (1):
Flow Technology	$	492.8		$	383.4		$	948.7		$	737.4
Test and Measurement	288.1			239.9			537.0			444.3
Thermal Equipment and Services	431.9			392.2			757.2			744.6
Industrial Products and Services	171.2			173.3			340.1			347.1
Total revenues	$	1,384.0		$	1,188.8		$	2,583.0		$	2,273.4

Segment income:
Flow Technology	$	56.6		$	45.2		$	113.0		$	86.5
Test and Measurement	29.0			23.7			48.6			37.1
Thermal Equipment and Services	35.8			49.1			57.1			80.8
Industrial Products and Services	10.9			17.7			28.1			37.8
Total segment income	132.3			135.7			246.8			242.2

Corporate expense	(23.7		)	(22.5		)	(54.8		)	(45.2		)
Pension and postretirement expense	(9.1		)	(12.9		)	(18.3		)	(26.1		)
Stock-based compensation expense	(7.0		)	(8.2		)	(26.7		)	(20.1		)
Impairment of goodwill and other intangible assets	(24.7		)	—			(24.7		)	—
Special charges, net	(8.9		)	(4.4		)	(12.0		)	(11.2		)

Consolidated operating income	$	58.9		$	87.7		$	110.3		$	139.6

(1) Under the percentage of completion method, we recognized revenues of $397.3 and $313.5 in the three months ended July 2, 2011 and July 3, 2010, respectively. For the six months ended July 2, 2011 and July 3, 2010, revenues under the percentage of completion method were $698.9 and $615.7, respectively. Costs and estimated earnings in excess of billings on contracts accounted for under the percentage of completion method were $264.2 and $228.1 as of July 2, 2011 and December 31, 2010, respectively. The July 2, 2011 balance includes $262.4 reported as a component of “Accounts receivable, net” and $1.8 as a component of “Other assets” in the condensed consolidated balance sheet. The December 31, 2010 balance includes $226.3 reported as a component of “Accounts receivable, net” and $1.8 as a component of “Other assets” in the condensed consolidated balance sheet. Billings in excess of costs and estimated earnings on uncompleted contracts accounted for under the percentage of completion method were $276.3 and $373.9 as of July 2, 2011 and December 31, 2010, respectively. The July 2, 2011 balance includes $269.8 reported as a component of “Accrued expenses” and $6.5 as a component of “Other long-term liabilities” in the condensed consolidated balance sheet. The December 31, 2010 balance includes $364.5 reported as a component of “Accrued expenses” and $9.4 as a component of “Other long-term liabilities” in the condensed consolidated balance sheet.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

SPECIAL CHARGES

6 Months Ended

Jul. 02, 2011

SPECIAL CHARGES

SPECIAL CHARGES

(5) SPECIAL CHARGES

Special charges, net, for the three and six months ended July 2, 2011 and July 3, 2010 are summarized and described in more detail below:

	Three months ended				Six months ended
	July 2,		July 3,		July 2,		July 3,
	2011		2010		2011		2010
Flow Technology	$	2.2	$	3.8	$	3.8	$	6.5
Test and Measurement	4.8		0.5		5.5		3.3
Thermal Equipment and Services	1.0		—		1.8		1.2
Industrial Products and Services	0.8		—		0.8		—
Corporate	0.1		0.1		0.1		0.2
Total	$	8.9	$	4.4	$	12.0	$	11.2

Flow Technology segment — Charges for the three and six months ended July 2, 2011 related primarily to the integration of Anhydro and Gerstenberg, the reorganization of the segment’s systems business, the transition of certain European back-office positions to the shared service center in Manchester, United Kingdom, and additional costs associated with restructuring activities initiated in 2010. Charges for the three and six months ended July 3, 2010 related primarily to headcount reduction costs at various facilities in Europe, lease exit costs for one facility in Australia and two facilities in New Zealand, additional costs associated with restructuring activities initiated in 2009, and an impairment charge of $1.0 associated with an idle facility in Lake Mills, WI.

Test and Measurement segment — Charges for the three and six months ended July 2, 2011 and July 3, 2010 related primarily to costs associated with headcount reductions and consolidation activities for a number of domestic and foreign facilities. In addition, during the three and six months ended July 2, 2011, the segment recorded an impairment charge of $3.7 associated with the rationalization of certain software assets that occurred as a result of the integration of the DS acquisition.

Thermal Equipment and Services segment — Charges for the three months ended July 2, 2011 related primarily to costs associated with headcount reductions at facilities in Germany and Italy, while charges for the six months ended July 2, 2011 also included lease exit costs associated with two facilities in Germany. Charges for the six months ended July 3, 2010 related primarily to costs associated with headcount reductions at a facility in Wuxi, China and asset impairment charges of $1.0.

Industrial Products and Services segment — Charges for the three and six months ended July 2, 2011 related to an asset impairment charge of $0.8.

Corporate — Charges for the three and six months ended July 2, 2011 and July 3, 2010 related primarily to our legal entity reduction initiative.

The following is an analysis of our restructuring and integration liabilities for the six months ended July 2, 2011 and July 3, 2010:

	Six months ended
	July 2,			July 3,
	2011			2010
Beginning balance	$	20.7		$	26.0
Special charges (1)	7.5			9.2
Adjustments related to acquisition accounting	—			0.3
Utilization — cash	(15.5		)	(17.2		)
Currency translation adjustment and other	1.1			(1.2		)
Ending balance	$	13.8		$	17.1

(1) The six months ended July 2, 2011 and July 3, 2010 exclude $4.5 and $2.0, respectively, of non-cash special charges that did not impact the restructuring and integration related liabilities.

INVENTORIES

6 Months Ended

Jul. 02, 2011

INVENTORIES

INVENTORIES

(6) INVENTORIES

Inventories comprised the following amounts:

	July 2, 2011			December 31, 2010
Finished goods	$	236.4		$	190.3
Work in process	145.3			113.9
Raw material and purchased parts	316.4			292.5
Total FIFO cost	698.1			596.7
Excess of FIFO cost over LIFO inventory value	(32.2		)	(32.4		)
Total inventories	$	665.9		$	564.3

Inventories include material, labor and factory overhead costs and are reduced, when necessary, to estimated realizable values. Certain domestic inventories are valued using the last-in, first-out (“LIFO”) method. These inventories were approximately 25% and 29% of the total inventory at July 2, 2011 and December 31, 2010, respectively. Other inventories are valued using the first-in, first-out (“FIFO”) method. Progress payments, which are netted against work in process, were $5.2 and $5.9 at July 2, 2011 and December 31, 2010, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References+ Details

GOODWILL AND OTHER INTANGIBLE ASSETS

6 Months Ended

Jul. 02, 2011

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

(7) GOODWILL AND OTHER INTANGIBLE ASSETS

The changes in the carrying amount of goodwill, by segment, were as follows:

	December 31, 2010			Goodwill resulting from business combinations		Impairments			Foreign Currency Translation and other (1)			July 2, 2011
Flow Technology

Gross Goodwill	$	702.7		$	3.2	$	—		$	31.2		$	737.1
Accumulated Impairments	—			—		—			—			—
Goodwill	702.7			3.2		—			31.2			737.1

Test & Measurement

Gross Goodwill	434.5			18.0		—			10.1			462.6
Accumulated Impairments	(257.0		)	—		—			(6.4		)	(263.4		)
Goodwill	177.5			18.0		—			3.7			199.2

Thermal Equipment and Services

Gross Goodwill	602.6			—		—			15.8			618.4
Accumulated Impairments	(114.1		)	—		(17.2		)	—			(131.3		)
Goodwill	488.5			—		(17.2		)	15.8			487.1

Industrial Products and Services

Gross Goodwill	351.8			—		—			(0.8		)	351.0
Accumulated Impairments	(85.9		)	—		—			—			(85.9		)
Goodwill	265.9			—		—			(0.8		)	265.1

Total

Gross Goodwill	2,091.6			21.2		—			56.3			2,169.1
Accumulated Impairments	(457.0		)	—		(17.2		)	(6.4		)	(480.6		)
Goodwill	$	1,634.6		$	21.2	$	(17.2	)	$	49.9		$	1,688.5

(1) Includes adjustments resulting from recent acquisitions not consummated during the six months ended July 2, 2011 of $1.8 and foreign currency translation adjustments totaling $48.1.

Other Intangibles

Identifiable intangible assets comprise the following:

	July 2, 2011							December 31, 2010
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Intangible assets with determinable lives:
Patents	$	19.4	$	(17.2	)	$	2.2	$	24.6	$	(21.6	)	$	3.0
Technology	122.5		(28.9		)	93.6		116.7		(23.3		)	93.4
Customer relationships	271.4		(62.8		)	208.6		239.7		(51.6		)	188.1
Other	39.0		(16.1		)	22.9		35.4		(13.5		)	21.9
	452.3		(125.0		)	327.3		416.4		(110.0		)	306.4
Trademarks with indefinite lives (1)	414.9		—			414.9		413.1		—			413.1
Total	$	867.2	$	(125.0	)	$	742.2	$	829.5	$	(110.0	)	$	719.5

(1) Balance at July 2, 2011 reflects impairment charges recorded during the second quarter of 2011 associated with businesses within our Thermal Equipment and Services and Industrial Products and Services segments of $7.5 and $0.8, respectively.

Estimated annual amortization expense related to these intangible assets is $32.4 in 2011, $27.4 in 2012, $26.1 in 2013, $25.6 in 2014 and $25.1 in 2015.

At July 2, 2011, the net carrying value of intangible assets with determinable lives consisted of $172.6 in the Flow Technology segment, $81.6 in the Test and Measurement segment, $61.3 in the Thermal Equipment and Services segment, and $11.8 in the Industrial Products and Services segment. Trademarks with indefinite lives consisted of $214.8 in the Flow Technology segment, $54.7 in the Test and Measurement segment, $131.2 in the Thermal Equipment and Services segment, and $14.2 in the Industrial Products and Services segment.

We annually test the recoverability of our goodwill and indefinite-lived intangible assets during the fourth quarter based on a measurement date as of the end of the third quarter. In addition, we test such assets for impairment on a more frequent basis if there are indications of potential impairment. Based on our annual impairment testing during the fourth quarter of 2010, our SPX Heat Transfer Inc. reporting unit had an estimated fair value that was comparable to the carrying value of its net assets. In the second quarter of 2011, SPX Heat Transfer Inc. experienced an additional decline in its revenues and profitability, furthering a trend which began late in the first quarter of 2011, in comparison to (i) recent historical results and (ii) expected results for the period, due to the challenging conditions within the U.S. power market. Although we expect financial results for the reporting unit to rebound in the second half of 2011 and in the years thereafter, the current projections of future discounted cash flows indicate that the reporting unit’s fair value is less than the carrying value of its net assets. Accordingly, we recorded an impairment charge of $24.7 during the second quarter of 2011 associated with SPX Heat Transfer Inc.’s goodwill ($17.2) and indefinite-lived intangible assets ($7.5). After the $24.7 impairment charge, SPX Heat Transfer Inc. had goodwill and indefinite-lived intangible assets of $3.6 and $22.6, respectively. During the second quarter of 2011, there were no indications of impairment at our other reporting units.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References+ Details

WARRANTY

6 Months Ended

Jul. 02, 2011

WARRANTY

WARRANTY

(8) WARRANTY

The following is an analysis of our product warranty accrual for the first six months of 2011 and 2010:

	Six months ended
	July 2,			July 3,
	2011			2010
Balance at beginning of period	$	55.8		$	56.7
Acquisitions	1.1			0.2
Provisions	11.0			12.5
Usage	(11.1		)	(16.5		)
Balance at end of period	56.8			52.9
Less: Current portion of warranty	46.9			41.4
Non-current portion of warranty	$	9.9		$	11.5

EMPLOYEE BENEFIT PLANS

6 Months Ended

Jul. 02, 2011

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

(9) EMPLOYEE BENEFIT PLANS

Net periodic benefit expense for our pension and postretirement plans includes the following components:

Domestic Pension Plans

	Three months ended						Six months ended
	July 2,			July 3,			July 2,			July 3,
	2011			2010			2011			2010
Service cost	$	2.4		$	2.3		$	5.0		$	4.7
Interest cost	14.2			15.3			28.7			30.6
Expected return on plan assets	(16.2		)	(17.1		)	(32.7		)	(34.2		)
Amortization of unrecognized losses	5.8			9.0			11.6			18.3
Amortization of unrecognized prior service credits	(0.2		)	(0.2		)	(0.4		)	(0.4		)
Total net periodic benefit expense	6.0			9.3			12.2			19.0
Less: Net periodic benefit expense of discontinued operations	—			—			—			—
Net periodic benefit expense of continuing operations	$	6.0		$	9.3		$	12.2		$	19.0

Foreign Pension Plans

	Three months ended						Six months ended
	July 2,			July 3,			July 2,			July 3,
	2011			2010			2011			2010
Service cost	$	0.7		$	0.5		$	1.3		$	1.1
Interest cost	3.6			3.4			7.2			6.9
Expected return on plan assets	(4.2		)	(3.4		)	(8.3		)	(7.0		)
Amortization of unrecognized losses	0.3			0.4			0.5			0.8
Total net periodic benefit expense	0.4			0.9			0.7			1.8
Less: Net periodic benefit expense of discontinued operations	—			—			—			—
Net periodic benefit expense of continuing operations	$	0.4		$	0.9		$	0.7		$	1.8

Postretirement Plans

	Three months ended						Six months ended
	July 2,			July 3,			July 2,			July 3,
	2011			2010			2011			2010
Service cost	$	0.1		$	—		$	0.2		$	0.1
Interest cost	1.8			2.0			3.6			4.0
Amortization of unrecognized losses	1.1			1.0			2.3			1.9
Amortization of unrecognized prior service credits	(0.3		)	(0.3		)	(0.7		)	(0.7		)
Net periodic postretirement benefit expense of continuing operations	$	2.7		$	2.7		$	5.4		$	5.3

During the first six months of 2011, we made contributions of approximately $8.8 to our foreign and qualified domestic pension plans, of which $1.0 related to businesses classified as discontinued operations.

An increase in the number of inactive participants in one of our domestic pension plans resulted in almost all of the plan participants being inactive. Accordingly, in 2011 we began amortizing the unrecognized gains/losses over the average remaining life expectancy of the inactive participants as opposed to the average remaining service period of the active participants. This change resulted in a reduction to pension expense of approximately $10.0 during the six months ended July 2, 2011.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Implementation Guide (Q and A)

-Number FAS88

-Paragraph 63

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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-Name Statement of Financial Accounting Standard (FAS)

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Reference 4: http://www.xbrl.org/2003/role/presentationRef

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-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 30

-Paragraph 26

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-Publisher FASB

-Name FASB Staff Position (FSP)

-Number FAS106-2

-Paragraph 20, 21, 22

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+ Details

INDEBTEDNESS

6 Months Ended

Jul. 02, 2011

INDEBTEDNESS

INDEBTEDNESS

(10) INDEBTEDNESS

The following summarizes our debt activity (both current and non-current) for the six months ended July 2, 2011:

	December 31, 2010		Borrowings		Repayments			Other (5)		July 2, 2011
Domestic revolving credit facility	$	—	$	375.0	$	(340.0	)	$	—	$	35.0
6.875% senior notes	600.0		—		—			—		600.0
7.625% senior notes	500.0		—		—			—		500.0
7.50% senior notes (1)	28.2		—		(28.2		)	—		—
6.25% senior notes (2)	21.3		—		(21.3		)	—		—
Trade receivables financing arrangement (3)	—		86.0		(29.0		)	—		57.0
Other indebtedness (4)	48.1		6.6		(0.8		)	0.9		54.8
Total debt	1,197.6		$	467.6	$	(419.3	)	$	0.9	1,246.8
Less: short-term debt	36.3									134.8
Less: current maturities of long-term debt	50.8									1.3
Total long-term debt	$	1,110.5								$	1,110.7

(1) These notes were redeemed in full in January 2011.

(2) These notes were redeemed in full in June 2011.

(3) Under this arrangement, we can borrow, on a continuous basis, up to $130.0, as available.

(4) Includes balances under a purchase card program of $42.8 and $36.1 at July 2, 2011 and December 31, 2010, respectively.

(5) “Other” includes foreign currency translation on any debt instruments denominated in currencies other than the U.S. dollar.

New Senior Credit Facilities

On June 30, 2011, we entered into new senior credit facilities with a syndicate of lenders that replaced our then-existing senior credit facilities. The new senior credit facilities provide for committed senior secured financing of $1.8 billion, consisting of the following (each with a final maturity of June 30, 2016):

· A domestic revolving credit facility, available for loans and letters of credit, in an aggregate principal amount up to $300.0;

· A global revolving credit facility, available for loans in U.S. Dollars, Euros, British Pounds and other currencies in an aggregate principal amount up to the equivalent of $300.0;

· A participation foreign credit instrument facility, available for performance letters of credit and guarantees, in an aggregate principal amount in various currencies up to the equivalent of $1,100.0; and

· A bilateral foreign credit instrument facility, available for performance letters of credit and guarantees, in an aggregate principal amount in various currencies up to the equivalent of $100.0.

In addition, the syndicate of lenders under the new senior credit facilities generally are comparable to those that existed for the previous senior credit facilities.

In connection with the termination of our then-existing senior credit facilities, we incurred $0.4 of costs related to the write-off of deferred financing costs, with such amounts included in interest expense for the three and six months ended July 2, 2011.

We also may seek additional commitments to add an incremental term loan facility and/or increase the commitments in respect of the domestic revolving credit facility, the global revolving credit facility, the participation foreign credit instrument facility and/or the bilateral foreign credit instrument facility by up to an aggregate principal amount of $1,000.0.

We are the borrower under all the facilities, and certain of our foreign subsidiaries are borrowers under the foreign credit instrument facilities (and we may in the future designate other subsidiaries to be borrowers under the revolving credit facilities and the foreign credit instrument facilities).

All borrowings and other extensions of credit under our new senior credit facilities are subject to the satisfaction of customary conditions, including absence of defaults and accuracy in material respects of representations and warranties.

The letters of credit under the domestic revolving credit facility are stand-by letters of credit requested by any borrower on behalf of itself or any of its subsidiaries or certain joint ventures. The foreign credit instrument facility is used to issue foreign credit instruments, including bank undertakings to support our foreign operations.

At July 2, 2011, we had $85.8 and $753.6 of outstanding letters of credit issued under our revolving credit and our foreign trade facilities of our senior credit agreement, respectively. In addition, we had $3.1 of letters of credit outstanding under separate arrangements in China and South Africa.

The interest rates applicable to loans under our new senior credit facilities are, at our option, equal to either (i) an alternate base rate (the higher of (a) the federal funds effective rate plus 0.5%, (b) the prime rate of Bank of America, N.A., and (c) the one-month LIBOR rate plus 1.0%) or (ii) a reserve-adjusted LIBOR rate for dollars (Eurodollar) plus, in each case, an applicable margin percentage, which varies based on our Consolidated Leverage Ratio (as defined in the credit agreement generally as the ratio of consolidated total debt (excluding the face amount of undrawn letters of credit, bank undertakings or analogous instruments and net of cash and cash equivalents in excess of $50.0) at the date of determination to consolidated adjusted EBITDA for the four fiscal quarters ended on such date). We may elect interest periods of one, two, three or six months for Eurodollar borrowings. The fees charged and the interest rate margins applicable to Eurodollar and alternate base rate loans are (all on a per annum basis) as follows:

Consolidated Leverage Ratio	Domestic Revolving Commitment Fee		Global Revolving Commitment Fee		Letter of Credit Fee		Foreign Credit Commitment Fee and Bilateral Foreign Credit Fee		Foreign Credit Instrument Fee and Bilateral Foreign Credit Fee		LIBOR Rate Loans		ABR Loans

Greater than or equal to 3.00 to 1.0	0.40	%	0.40	%	2.00	%	0.40	%	1.25	%	2.00	%	1.00	%
Between 2.00 to 1.0 and 3.00 to 1.0	0.35	%	0.35	%	1.875	%	0.35	%	1.125	%	1.875	%	0.875	%
Between 1.50 to 1.0 and 2.00 to 1.0	0.30	%	0.30	%	1.75	%	0.30	%	1.00	%	1.75	%	0.75	%
Between 1.00 to 1.0 and 1.50 to 1.0	0.275	%	0.275	%	1.50	%	0.275	%	0.875	%	1.50	%	0.50	%
Less than 1.00 to 1.0	0.25	%	0.25	%	1.25	%	0.25	%	0.75	%	1.25	%	0.25	%

The weighted-average interest rate of our outstanding borrowings under our senior credit facilities was approximately 2.0% at July 2, 2011.

The fees for bilateral foreign credit commitments are as specified above for foreign credit commitments, unless otherwise agreed with the bilateral foreign issuing lender. We also pay fronting fees on the outstanding amounts of letters of credit and foreign credit instruments (in the participation facility) at the rates of 0.125% per annum and 0.20% per annum, respectively.

Our new senior credit facilities require mandatory prepayments in amounts equal to the net proceeds from the sale or other disposition of, including from any casualty to, or governmental taking of, property in excess of specified values (other than in the ordinary course of business and subject to other exceptions). Mandatory prepayments will be applied to repay amounts (or cash collateralize letters of credit) outstanding under the global revolving credit facility and the domestic revolving credit facility (without reducing the commitments thereunder). No prepayment is required generally to the extent the net proceeds are reinvested in permitted acquisitions, permitted investments or assets to be used in our business within 360 days of the receipt of such proceeds.

We may voluntarily prepay loans under our new senior credit facilities, in whole or in part, without premium or penalty. Any voluntary prepayment of loans will be subject to reimbursement of the lenders’ breakage costs in the case of a prepayment of Eurodollar rate borrowings other than on the last day of the relevant interest period.

Indebtedness under our new senior credit facilities is guaranteed by:

· Each existing and subsequently acquired or organized domestic material subsidiary, with specified exceptions; and

· SPX Corporation with respect to the obligations of our foreign borrower subsidiaries under the global revolving credit facility, the participation foreign credit instrument facility and the bilateral participation foreign credit instrument facility.

Indebtedness under our new senior credit facilities is secured by a first priority pledge and security interest in 100% of the capital stock of our domestic subsidiaries (with certain exceptions) held by us or our domestic subsidiary guarantors and 65% of the capital stock of our material first tier foreign subsidiaries (with certain exceptions). If our corporate credit rating is “Ba2” or less (or not rated) by Moody’s and “BB” or less (or not rated) by S&P, then we and our domestic subsidiary guarantors are required to grant security interests, mortgages and other liens on substantially all of our and their assets. If our corporate credit rating is “Baa3” or better by Moody’s or “BBB-” or better by S&P and no defaults exist, then all collateral security will be released and the indebtedness under our senior credit facilities will be unsecured.

Our new senior credit facilities require that we maintain:

· A Consolidated Interest Coverage Ratio (as defined in the credit agreement generally as the ratio of consolidated adjusted EBITDA for the four fiscal quarters ended on such date to consolidated interest expense for such period) as of the last day of any fiscal quarter of at least 3.50 to 1.00; and

· A Consolidated Leverage Ratio as of the last day of any fiscal quarter of not more than 3.25 to 1.00 (or 3.50 to 1.00 for the four fiscal quarters after certain permitted acquisitions by us).

Our new senior credit facilities also contain covenants that, among other things, restrict our ability to incur additional indebtedness, grant liens, make investments, loans, guarantees or advances, make restricted junior payments, including dividends, redemptions of capital stock and voluntary prepayments or repurchase of certain other indebtedness, engage in mergers, acquisitions or sales of assets, enter into sale and leaseback transactions or engage in certain transactions with affiliates and otherwise restrict certain corporate activities. We do not expect these covenants to restrict our liquidity, financial condition or access to capital resources in the foreseeable future. Our new senior credit facilities also contain customary representations, warranties, affirmative covenants, and events of default.

We are permitted under our senior credit facilities to repurchase our capital stock and pay cash dividends in an unlimited amount if our Consolidated Leverage Ratio is (after giving pro forma effect to such payments) less than 2.50 to 1.00. If our Consolidated Leverage Ratio is (after giving pro forma effect to such payments) greater than or equal to 2.50 to 1.00, the aggregate amount of such repurchases and dividend declarations cannot exceed (A) $100.0 in any fiscal year plus (B) an additional amount for all such repurchases and dividend declarations made after June 30, 2011 equal to the sum of (i) $300.0 and (ii) a positive amount equal to 50% of cumulative Consolidated Net Income (as defined in the credit agreement generally as consolidated net income subject to certain adjustments solely for the purposes of determining this basket) during the period from July 1, 2011 to the end of the most recent fiscal quarter preceding the date of such repurchase or dividend declaration for which financial statements have been (or were required to be) delivered (or, in case such Consolidated Net Income is a deficit, minus 100% of such deficit).

At July 2, 2011, we were in compliance with all covenant provisions of our new senior credit facilities, and the senior credit facilities did not impose any restrictions on our ability to repurchase shares or pay dividends, other than those inherent in the credit agreement. In addition, we were in compliance with all covenant provisions of our senior notes as of July 2, 2011.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details

DERIVATIVE FINANCIAL INSTRUMENTS

6 Months Ended

Jul. 02, 2011

DERIVATIVE FINANCIAL INSTRUMENTS

DERIVATIVE FINANCIAL INSTRUMENTS

(11) DERIVATIVE FINANCIAL INSTRUMENTS

Interest Rate Swaps

Prior to the August 2010 repayment of our variable rate term loan, we maintained interest rate protection agreements (“Swaps”) to hedge the associated interest rate risk. These Swaps, which we designated and accounted for as cash flow hedges, effectively converted the majority of the borrowings under our variable rate term loan to a fixed rate of 4.795% plus the applicable margin. In connection with the repayment of our term loan, we terminated all our Swaps.

Currency Forward Contracts

We manufacture and sell our products in a number of countries and, as a result, are exposed to movements in foreign currency exchange rates. Our objective is to preserve the economic value of non-functional currency denominated cash flows and to minimize their impact. Our principal currency exposures relate to the Euro, Chinese Yuan, South African Rand and British Pound.

From time to time, we enter into currency protection agreements (“FX forward contracts”) to manage the exposure on contracts with forecasted transactions denominated in non-functional currencies and to manage the risk of transaction gains and losses associated with assets/liabilities denominated in currencies other than the functional currency of certain subsidiaries. In addition, some of our contracts contain currency forward embedded derivatives (“FX embedded derivatives”), as the currency of exchange is not “clearly and closely” related to the functional currency of either party to the transaction. Certain of our FX forward contracts are designated as cash flow hedges, as deemed appropriate. To the extent these derivatives are effective in offsetting the variability of the hedged cash flows, changes in the derivatives’ fair value are not included in current earnings, but are included in accumulated other comprehensive loss (“AOCI”). These changes in fair value will subsequently be reclassified into earnings as a component of revenues or cost of goods sold, as applicable, when the forecasted transaction impacts earnings. In addition, if the forecasted transaction is no longer probable the cumulative change in the derivatives’ fair value will be recorded as a component of other income (expense), net in the period it occurs. To the extent that a previously designated hedging transaction is no longer an effective hedge, any ineffectiveness measured in the hedging relationship is recorded in earnings in the period it occurs. We had FX forward contracts with an aggregate notional amount of $144.8 and $199.5 outstanding as of July 2, 2011 and December 31, 2010, respectively. We had FX embedded derivatives with an aggregate notional amount outstanding of $154.7 and $200.9 at July 2, 2011 and December 31, 2010, respectively. The unrealized loss, net of taxes, recorded in AOCI related to FX forward contracts was $3.9 and $4.1 as of July 2, 2011 and December 31, 2010, respectively. We anticipate reclassifying approximately $1.5 of the unrealized loss to income over the next 12 months.

Commodity Contracts

From time to time, we enter into commodity contracts to manage the exposure on forecasted purchases of commodity raw materials (“commodity contracts”). At July 2, 2011 and December 31, 2010, the outstanding notional amount of commodity contracts was 2.5 million and 1.8 million pounds of copper, respectively. We designate and account for these contracts as cash flow hedges and, to the extent these commodity contracts are effective in offsetting the variability of the forecasted purchases, the change in fair value is included in AOCI. We reclassify the AOCI associated with our commodity contracts to cost of products sold when the forecasted transaction impacts earnings. As of July 2, 2011 and December 31, 2010, the fair values of these contracts were $0.4 and $1.0, respectively, recorded as a current asset. The unrealized gain, net of taxes, recorded in AOCI was $0.3 and $0.8 as of July 2, 2011 and December 31, 2010, respectively. We anticipate reclassifying the unrealized gain to income over the next 12 months.

The following summarizes the fair value of our derivative financial instruments:

	July 2, 2011				December 31, 2010
	Balance Sheet Classification	Fair Value			Balance Sheet Classification	Fair Value
Derivative contracts designated as hedging instruments:

Commodity contracts	Other current assets	$	0.4		Other current assets	$	1.0
FX forward contracts	Other current assets	0.1			—	—
		$	0.5			$	1.0

FX forward contracts	Accrued expenses	$	(0.2	)	Accrued expenses	$	(2.9	)
		$	(0.2	)		$	(2.9	)

Derivative contracts not designated as hedging instruments:

FX forward contracts	Other current assets	$	3.9		Other current assets	$	0.5
FX embedded derivatives	Other current assets	1.1			Other current assets	2.6
		$	5.0			$	3.1

FX forward contracts	Accrued expenses	$	(0.1	)	Accrued expenses	$	(1.4	)
FX embedded derivatives	Accrued expenses	(5.0		)	Accrued expenses	(1.8		)
FX embedded derivatives	Other long-term liabilities	(24.0		)	Other long-term liabilities	(33.2		)
		$	(29.1	)		$	(36.4	)

The following summarizes the effect of derivative financial instruments in cash flow hedging relationships on AOCI and the condensed consolidated statements of operations for the three months ended July 2, 2011 and July 3, 2010:

	Amount of gain (loss) recognized in AOCI, pre-tax (1)					Classification of gain (loss)	Amount of gain (loss) reclassified from AOCI to income, pre-tax (1)
	2011		2010			reclassified from AOCI	2011		2010
Swaps	$	—	$	(2.0	)	Interest expense	$	—	$	(5.2	)
FX forward contracts	0.5		(1.2		)	Cost of products sold	0.1		—
FX embedded derivatives	—		0.8			Cost of products sold	—		0.4
Commodity contracts	0.2		(1.1		)	Cost of products sold	0.4		0.3
	$	0.7	$	(3.5	)		$	0.5	$	(4.5	)

	Amount of gain (loss) recognized in AOCI, pre-tax (1)					Classification of gain (loss)	Amount of gain (loss) reclassified from AOCI to income, pre-tax (1)
	2011		2010			reclassified from AOCI	2011			2010
Swaps	$	—	$	(6.2	)	Interest expense	$	—		$	(10.8	)
FX forward contracts	—		(3.3		)	Cost of products sold	(0.5		)	—
FX embedded derivatives	—		2.6			Cost of products sold	—			0.6
Commodity contracts	—		(0.9		)	Cost of products sold	0.8			0.6
	$	—	$	(7.8	)		$	0.3		$	(9.6	)

(1) During the three and six months ended July 2, 2011, losses of $0.1 and $0.2, respectively, were recognized in other income (expense), net relating to derivative ineffectiveness and amounts excluded from effectiveness testing. During the three and six months ended July 3, 2010, gains of $0.8 and $0.9, respectively, were recognized in other income (expense), net relating to derivative ineffectiveness and amounts excluded from effectiveness testing.

The following summarizes the effect of derivative financial instruments not designated in cash flow hedging relationships on the condensed consolidated statements of operations for the three months ended July 2, 2011 and July 3, 2010:

	Classification of gain (loss) recognized in	Amount of gain (loss) recognized in income
	income	2011			2010
FX forward contracts	Other income (expense), net	$	0.9		$	2.8
FX embedded derivatives	Other income (expense), net	(2.7		)	(10.4		)
		$	(1.8	)	$	(7.6	)

The following summarizes the effect of derivative financial instruments not designated as cash flow hedging relationships on the condensed consolidated statements of operations for the six months ended July 2, 2011 and July 3, 2010:

	Classification of gain (loss) recognized in	Amount of gain (loss) recognized in income
	income	2011			2010
FX forward contracts	Other income (expense), net	$	1.6		$	2.5
FX embedded derivatives (1)	Other income (expense), net	(2.4		)	(22.5		)
		$	(0.8	)	$	(20.0	)

(1) Includes $4.6 of losses reclassified from AOCI during the six months ended July 3, 2010, resulting from the discontinuance of cash flow hedge accounting, as the forecasted transactions were determined to no longer be probable.

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

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+ Details

EQUITY AND STOCK-BASED COMPENSATION

6 Months Ended

Jul. 02, 2011

EQUITY AND STOCK-BASED COMPENSATION

EQUITY AND STOCK-BASED COMPENSATION

(12) EQUITY AND STOCK-BASED COMPENSATION

Earnings Per Share

The following table sets forth the number of weighted-average shares outstanding used in the computation of basic and diluted income per share:

	Three months ended		Six months ended
	July 2,	July 3,	July 2,	July 3,
	2011	2010	2011	2010
Weighted-average shares outstanding used in basic income per share	50.554	49.657	50.410	49.594
Dilutive securities — employee stock options, restricted stock and restricted stock units	0.811	0.637	0.748	0.515
Weighted-average number of common and dilutive securities used for calculating diluted income per share	51.365	50.294	51.158	50.109

The total number of stock options that were not included in the computation of diluted income per share because their exercise price was greater than the average market price of common shares was 0.039 and 0.075 for the three and six months ended July 2, 2011, respectively, and 0.428 and 0.436 for the three and six months ended July 3, 2010, respectively. For the three and six months ended July 2, 2011, no unvested restricted stock units were excluded from the computation of diluted income per share, compared to 0.102 and 0.103 for the three and six months ended July 3, 2010, because required market thresholds for vesting (as discussed below) were not met.

Stock-based Compensation

Under the 2002 Stock Compensation Plan, as amended in 2006, the successor plan to the 1992 Stock Compensation Plan, up to 4.680 shares of our common stock were available for grant at July 2, 2011. The 2002 Stock Compensation Plan permits the issuance of new shares or shares from treasury upon the exercise of options, vesting of restricted stock units or granting of restricted stock. Each share of restricted stock and restricted stock unit granted reduces availability by 2.5 shares.

During the six months ended July 2, 2011 and July 3, 2010, we classified excess tax benefits from stock-based compensation of $6.4 and $2.9, respectively, as financing cash flows and included such amounts in “Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from exercise of employee stock options and other” within our condensed consolidated statements of cash flows.

Restricted stock or restricted stock units may be granted to certain eligible employees or non-employee directors in accordance with applicable equity compensation plan documents and agreements. Subject to participants’ continued employment and other plan terms and conditions, the restrictions lapse and awards generally vest over three years. Market (“company performance”) thresholds have been instituted for vesting of substantially all restricted stock and restricted stock unit awards. This vesting is based on SPX shareholder return versus the S&P 500 composite index. On each vesting date, we compare the SPX shareholder return to the performance of the S&P 500 composite index for the prior year and for the cumulative period since the date of the grant. If SPX outperforms the S&P 500 composite index for the prior year, the one-third portion of the grant associated with that year will vest. If SPX outperforms the S&P composite index for the cumulative period, any unvested portion of the grant that was subject to vesting on or prior to the vesting date will vest. Restricted stock and restricted stock units that do not vest within the three-year vesting period are forfeited.

We grant restricted stock to non-employee directors under the 2006 Non-Employee Directors’ Stock Incentive Plan (the “Directors’ Plan”). Under the Directors’ Plan, up to 0.030 shares of our common stock were available for grant at July 2, 2011. Restricted stock grants have a three-year vesting period based on SPX shareholder return versus the S&P 500 composite index, which are subject to the same company performance thresholds for employee awards described in the preceding paragraph. Restricted stock that does not vest within the three-year vesting period in accordance with these performance requirements is forfeited.

Stock options may be granted to key employees in the form of incentive stock options or nonqualified stock options, generally vest ratably over three years, which vesting may be subject to performance criteria, and expire no later than 10 years from the date of grant. The option price per share may be no less than the fair market value of our common stock at the close of business day prior to the date of grant. Upon exercise, the employee has the option to surrender previously owned shares at current value in payment of the exercise price and/or for withholding tax obligations, and, subject to certain restrictions, may receive a reload option having an exercise price equal to the current market value for the number of shares so surrendered. The reload option expires at the same time that the exercised option would have expired. Any future issuances of options under the plan will not have a reload feature, pursuant to the terms of the plan. We have not granted options to any of our employees since 2004.

The recognition of compensation expense for share-based awards, including stock options, is based on their grant date fair values. The fair value of each award is amortized over the lesser of the award’s requisite or derived service period, which is generally up to three years. Compensation expense related to restricted stock and restricted stock units totaled $26.7 and $20.1 for the six months ended July 2, 2011 and July 3, 2010, respectively.

We use the Monte Carlo simulation model valuation technique to determine fair value of our restricted stock and restricted stock units as they contain a “market condition.” The Monte Carlo simulation model utilizes multiple input variables that determine the probability of satisfying the market condition stipulated in the award and calculates the fair value of each restricted stock and restricted stock unit award. We used the following assumptions in determining the fair value of the awards granted on March 1, 2011 and March 1, 2010:

	Annual expected stock price volatility		Annual expected dividend yield		Risk-free interest rate		Correlation between total shareholder return for SPX and S&P 500 Composite Index
March 1, 2011:
SPX Corporation	61.0	%	1.27	%	1.03	%	0.7559
S&P 500 Composite Index	30.3	%	n/a		1.03	%
March 1, 2010:
SPX Corporation	62.0	%	1.64	%	1.20	%	0.7250
S&P 500 Composite Index	30.8	%	n/a		1.20	%

Annual expected stock price volatility is based on the three-year historical volatility. The annual expected dividend yield is based on annual expected dividend payments and the stock price on the date of grant. The average risk-free interest rate is based on the one-year through three-year daily treasury yield curve rate as of the grant date.

The following table summarizes the restricted stock and restricted stock unit activity from December 31, 2010 through July 2, 2011:

	Unvested Restricted Stock and Restricted Stock Units		Weighted-Average Grant-Date Fair Value
Outstanding at December 31, 2010	1.516		$	50.97
Granted	0.803		63.09
Vested	(0.634	)	51.47
Forfeited	(0.235	)	69.60
Outstanding at July 2, 2011	1.450		54.34

As of July 2, 2011, there was $35.0 of unrecognized compensation cost related to restricted stock and restricted stock unit compensation arrangements. We expect this cost to be recognized over a weighted-average period of 1.6 years.

The following table shows stock option activity from December 31, 2010 through July 2, 2011:

	Shares		Weighted-Average Exercise Price
Options outstanding at December 31, 2010	0.635		$	63.82
Exercised	(0.140	)	65.52
Forfeited	(0.113	)	90.93
Options outstanding and exercisable at July 2, 2011	0.382		55.21

The weighted-average remaining term, in years, of stock options outstanding and exercisable at July 2, 2011 was 1.0. The total number of in-the-money options exercisable on July 2, 2011 was 0.379. Aggregate intrinsic value (market value of stock less the option exercise price) represents the total pre-tax intrinsic value, based on our closing stock price on July 2, 2011, which would have been received by the option holders had all in-the-money option holders exercised their options as of that date. The aggregate intrinsic value of the options outstanding and exercisable at July 2, 2011 was $10.6. The aggregate intrinsic value of options exercised during the first six months of 2011 was $2.2, while the respective amount for the first six months of 2010 was $0.8.

Accumulated Other Comprehensive Loss

The components of the balance sheet caption “Accumulated other comprehensive loss” were as follows:

	July 2, 2011			December 31, 2010
Foreign currency translation adjustment	$	345.1		$	223.2
Net unrealized losses on qualifying cash flow hedges, net of tax benefit of $2.2	(3.6		)	(3.3		)
Net unrealized gains on available-for-sale securities	0.9			6.1
Pension liability adjustment, net of tax benefit of $262.0 and $266.6, respectively (1)	(411.6		)	(418.6		)
Accumulated other comprehensive loss	$	(69.2	)	$	(192.6	)

(1) As of July 2, 2011 and December 31, 2010, includes $3.1 and $3.2, respectively, related to our share of the pension liability adjustment for EGS.

Common Stock in Treasury

During the six months ended July 2, 2011, “Common stock in treasury” was decreased by the settlement of restricted stock units issued from treasury stock of $12.7 and increased by $7.0 for common stock that was surrendered by recipients of restricted stock as a means of funding the related minimum income tax withholding requirements.

During the six months ended July 3, 2010, “Common stock in treasury” was decreased by the settlement of restricted stock units issued from treasury stock of $12.1 and increased by $5.1 for common stock that was surrendered by recipients of restricted stock as a means of funding the related minimum income tax withholding requirements.

Dividends

The dividends declared during each of the first two quarters of 2011 and 2010 were $0.25 per share and totaled $12.7 and $12.8 during the first and second quarters of 2011, respectively, and $12.5 and $12.4 during the first and second quarters of 2010, respectively. Second quarter dividends were paid on July 6, 2011 and July 6, 2010.

Changes in Equity

A summary of the changes in equity for the three months ended July 2, 2011 and July 3, 2010 is provided below:

	July 2, 2011								July 3, 2010
	SPX Corporation Shareholders’ Equity			Noncontrolling Interest		Total Equity			SPX Corporation Shareholders’ Equity			Noncontrolling Interest			Total Equity
Equity, beginning of period	$	2,217.5		$	5.4	$	2,222.9		$	1,846.7		$	10.3		$	1,857.0
Net income (loss)	34.3			0.7		35.0			78.8			(0.8		)	78.0
Net unrealized gains on qualifying cash flow hedges net of tax provision of $0.1 and $0.3, respectively	0.1			—		0.1			0.7			—			0.7
Net unrealized loss on available-for-sale securities	(2.8		)	—		(2.8		)	—			—			—
Pension liability adjustment, net of tax provision of $2.6 and $3.8, respectively	4.6			—		4.6			6.4			—			6.4
Foreign currency translation adjustments	32.4			0.2		32.6			(97.5		)	(0.4		)	(97.9		)
Total comprehensive income (loss)	68.6			0.9		69.5			(11.6		)	(1.2		)	(12.8		)
Dividends declared	(12.8		)	—		(12.8		)	(12.4		)	—			(12.4		)
Exercise of stock options and other incentive plan activity, including tax benefit of $0.1 and $0.2, respectively	7.1			—		7.1			6.1			—			6.1
Amortization of restricted stock and restricted stock unit grants	7.0			—		7.0			8.2			—			8.2
Restricted stock and restricted stock unit vesting, net of tax withholdings	—			—		—			(0.4		)	—			(0.4		)
Dividends attributable to noncontrolling interest	—			—		—			—			(0.3		)	(0.3		)
Other changes in noncontrolling interest	—			—		—			—			(0.1		)	(0.1		)
Equity, end of period	$	2,287.4		$	6.3	$	2,293.7		$	1,836.6		$	8.7		$	1,845.3

A summary of the changes in equity for the six months ended July 2, 2011 and July 3, 2010 is provided below:

	July 2, 2011									July 3, 2010
	SPX Corporation Shareholders’ Equity			Noncontrolling Interests			Total Equity			SPX Corporation Shareholders’ Equity			Noncontrolling Interests			Total Equity
Equity, beginning of period	$	2,097.7		$	6.3		$	2,104.0		$	1,870.8		$	10.7		$	1,881.5
Net income (loss)	57.4			2.4			59.8			100.9			(1.6		)	99.3
Net unrealized gains (losses) on qualifying cash flow hedges, net of tax provision of $2.1 for the six months ended July 3, 2010	(0.3		)	—			(0.3		)	4.3			—			4.3
Net unrealized loss on available-for-sale securities	(5.2		)	—			(5.2		)	—			—			—
Pension liability adjustment, net of tax (provision) benefit of ($4.6) and $1.6, respectively	7.0			—			7.0			23.1			—			23.1
Foreign currency translation adjustments	121.9			0.6			122.5			(158.7		)	(0.2		)	(158.9		)
Total comprehensive income (loss)	180.8			3.0			183.8			(30.4		)	(1.8		)	(32.2		)
Dividends declared	(25.5		)	—			(25.5		)	(24.9		)	—			(24.9		)
Exercise of stock options and other incentive plan activity, including tax benefit of $5.7 and $1.8, respectively	24.3			—			24.3			13.2			—			13.2
Amortization of restricted stock and restricted stock unit grants	26.7			—			26.7			20.1			—			20.1
Restricted stock and restricted stock unit vesting, net of tax withholdings	(16.6		)	—			(16.6		)	(12.2		)	—			(12.2		)
Dividends attributable to noncontrolling interests	—			(4.1		)	(4.1		)	—			(0.3		)	(0.3		)
Other changes in noncontrolling interests	—			1.1			1.1			—			0.1			0.1
Equity, end of period	$	2,287.4		$	6.3		$	2,293.7		$	1,836.6		$	8.7		$	1,845.3

CONTINGENCIES AND OTHER MATTERS

6 Months Ended

Jul. 02, 2011

CONTINGENCIES AND OTHER MATTERS

CONTINGENCIES AND OTHER MATTERS

(13) CONTINGENCIES AND OTHER MATTERS

General

Numerous claims, complaints and proceedings arising in the ordinary course of business, including those relating to litigation matters (e.g., class actions, derivative lawsuits and contracts, intellectual property and competitive claims), environmental matters, and risk management matters (e.g., product and general liability, automobile and workers’ compensation claims), have been filed or are pending against us and certain of our subsidiaries. Additionally, we may become subject to significant claims of which we are currently unaware, or the claims of which we are aware may result in us incurring a significantly greater liability than we anticipate. This may also be true in connection with past or future acquisitions. While we maintain property, cargo, auto, product, general liability, environmental, and directors’ and officers’ liability insurance and have acquired rights under similar policies in connection with acquisitions that we believe cover a portion of these claims, this insurance may be insufficient or unavailable (e.g., because of insurer insolvency) to protect us against potential loss exposures. In addition, we have increased our self-insurance limits over the past several years. While we believe we are entitled to indemnification from third parties for some of these claims, these rights may be insufficient or unavailable to protect us against potential loss exposures. However, we believe that our accruals related to these items are sufficient and that these items and our rights to available insurance and indemnity will be resolved without material adverse effect, individually or in the aggregate, on our financial position, results of operations and cash flows. These accruals totaled $430.8 (including $365.6 for risk management matters) and $436.2 (including $366.1 for risk management matters) at July 2, 2011 and December 31, 2010, respectively. Of these amounts, $361.2 and $368.0 were included in “Other long-term liabilities” within our condensed consolidated balance sheets at July 2, 2011 and December 31, 2010, respectively, with the remainder included in “Accrued expenses.”

We had insurance recovery assets related to risk management matters of $319.0 and $320.0 at July 2, 2011 and December 31, 2010, respectively, included in “Other assets” within our condensed consolidated balance sheets.

Litigation Matters

We are subject to litigation matters that arise in the normal course of business. In our opinion, these matters are either without merit or of a kind that should not have a material adverse effect individually or in the aggregate on our financial position, results of operations or cash flows. However, we cannot assure that these proceedings or claims will not have a material adverse effect on our financial position, results of operations or cash flows.

Environmental Matters

Our operations and properties are subject to federal, state, local and foreign regulatory requirements relating to environmental protection. It is our policy to comply fully with all applicable requirements. As part of our effort to comply, we have a comprehensive environmental compliance program that includes environmental audits conducted by internal and external independent professionals, as well as regular communications with our operating units regarding environmental compliance requirements and anticipated regulations. Based on current information, we believe that our operations are in substantial compliance with applicable environmental laws and regulations, and we are not aware of any violations that could have a material adverse effect on our business, financial condition, results of operations or cash flows. We have liabilities for site investigation and/or remediation at 90 sites that we own or control. In addition, while we believe that we maintain adequate accruals to cover the costs of site investigation and/or remediation, we cannot provide assurance that new matters, developments, laws and regulations, or stricter interpretations of existing laws and regulations will not materially affect our business or operations in the future.

Our environmental accruals cover anticipated costs, including investigation, remediation, and operation and maintenance of clean-up sites. Our estimates are based primarily on investigations and remediation plans established by independent consultants, regulatory agencies and potentially responsible third parties. Accordingly, our estimates may change based on future developments, including new or changes in existing environmental laws or policies, differences in costs required to complete anticipated actions from estimates provided, future findings of investigation or remediation actions, or alteration to the expected remediation plans. It is our policy to realize a change in estimate once it becomes probable and can be reasonably estimated. We do not discount our environmental accruals and do not reduce them by anticipated insurance recoveries. We do take into account third-party indemnification from financially viable parties in determining our accruals where there is no dispute regarding the right to indemnification.

In the case of contamination at offsite, third-party disposal sites, we have been notified that we are potentially responsible and have received other notices of potential liability pursuant to various environmental laws at 26 sites at which the liability has not been settled, and only 10 of which have been active in the past few years. These laws may impose liability on certain persons that are considered jointly and severally liable for the costs of investigation and remediation of hazardous substances present at these sites, regardless of fault or legality of the original disposal. These persons include the present or former owners or operators of the site and companies that generated, disposed of or arranged for the disposal of hazardous substances at the site. We are considered a “de minimis” potentially responsible party at most of the sites, and we estimate the aggregate probable remaining liability at these sites is immaterial.

We conduct extensive environmental due diligence with respect to potential acquisitions, including environmental site assessments and such further testing as we may deem warranted. If an environmental matter is identified, we estimate the cost and either establish a liability, purchase insurance or obtain an indemnity from a financially sound seller. However, in connection with our acquisitions or dispositions, we may assume or retain significant environmental liabilities, some of which we may be unaware. The potential costs related to these environmental matters and the possible impact on future operations are uncertain due in part to the complexity of government laws and regulations and their interpretations, the varying costs and effectiveness of various clean-up technologies, the uncertain level of insurance or other types of recovery, and the questionable level of our responsibility. We record a liability when it is both probable and the amount can be reasonably estimated. Due to the uncertainties previously described, we are unable to reasonably estimate the amount of possible additional losses associated with the resolution of these matters beyond what has been recorded.

In our opinion, after considering accruals established for such purposes, remedial actions for compliance with the present laws and regulations governing the protection of the environment are not expected to have a material adverse impact on our business, financial condition, results of operations or cash flows.

Risk Management Matters

We are self-insured for certain of our workers’ compensation, automobile, product and general liability, disability and health costs, and we believe that we maintain adequate accruals to cover our retained liability. Our accruals for risk management matters are determined by us, are based on claims filed and estimates of claims incurred but not yet reported, and generally are not discounted. We consider a number of factors, including third-party actuarial valuations, when making these determinations. We maintain third-party stop-loss insurance policies to cover certain liability costs in excess of predetermined retained amounts. This insurance may be insufficient or unavailable (e.g., because of insurer insolvency) to protect us against loss exposure.

Collaborative Arrangements

Collaborative arrangements are defined as a contractual arrangement in which the parties are (1) active participants to the arrangements and (2) exposed to significant risks and rewards that depend on the commercial success of the endeavor. Costs incurred and revenues generated from transactions with third parties are required to be reported by the collaborators on the appropriate line item in their respective income statements.

We enter into consortium arrangements for certain projects within our Thermal Equipment and Services segment. Under such arrangements, each consortium member is responsible for performing certain discrete items of work within the total scope of the contracted work and the consortium expires when all contractual obligations are completed. The revenues for these discrete items of work are defined in the contract with the project owner and each consortium member bearing the profitability risk associated with its own work. Our consortium arrangements typically provide that each consortium member assumes its responsible share of any damages or losses associated with the project; however, the use of a consortium arrangement typically results in joint and several liability for the consortium members. If responsibility cannot be determined or a consortium member defaults, then the consortium members are responsible according to their share of the contract value. Within our consolidated financial statements, we account for our share of the revenues and profits under the consortium arrangements. As of July 2, 2011, our share of the aggregate contract value on open consortium arrangements was $419.6 (of which approximately 51.8% had been recognized as revenue), and the aggregate contract value on open consortium arrangements was $1,036.3. As of December 31, 2010, our share of the aggregate contract value on open consortium arrangements was $381.4 (of which approximately 45.1% had been recognized as revenue), and the aggregate contract value on open consortium arrangements was $948.7. At July 2, 2011 and December 31, 2010, we recorded liabilities of $3.4 and $3.2, respectively, representing the estimated fair value of our potential obligation under the joint and several liability provisions associated with the consortium arrangements.

U.S. Health Care Reform Legislation

In the first quarter of 2010, the Patient Protection and Affordable Care Act of 2010 (the “PPAC Act”) was enacted. As discussed in Note 14, the PPAC Act eliminated a portion of the federal income tax deduction available to companies that provide prescription drug benefits to retirees under Medicare Part D. We currently are evaluating other prospective effects of the PPAC Act and the related effects on our business.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 14

-Paragraph 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 5

-Paragraph 9, 10, 11, 12

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.25)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 450

-SubTopic 20

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

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-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

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-Name Accounting Standards Codification

-Topic 440

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

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-Name Accounting Standards Codification

-Topic 825

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

+ Details

INCOME TAXES

6 Months Ended

Jul. 02, 2011

INCOME TAXES

INCOME TAXES

(14) INCOME TAXES

Unrecognized Tax Benefits

As of July 2, 2011, we had gross unrecognized tax benefits of $92.1 (net unrecognized tax benefits of $73.9), of which $71.8, if recognized, would impact our effective tax rate from continuing operations.

We classify interest and penalties related to unrecognized tax benefits as a component of our income tax provision. As of July 2, 2011, gross accrued interest excluded from the amounts above totaled $14.5 (net accrued interest of $10.8). There were no significant penalties recorded during the three and six months ended July 2, 2011 or July 3, 2010.

Based on the outcome of certain examinations or as a result of the expiration of statutes of limitations for certain jurisdictions, we believe that within the next 12 months it is reasonably possible that our previously unrecognized tax benefits could decrease by approximately $20.0 to $30.0. The previously unrecognized tax benefits relate to a variety of tax issues including the ability to claim certain foreign tax credits, deductibility of interest expense in certain jurisdictions, and tax matters relating to prior acquisitions or dispositions.

Uncertain Tax Positions

We perform reviews of our income tax positions on a continuous basis and accrue for potential uncertain positions when we determine that an uncertain position meets the criteria of the Income Taxes Topic of the Codification. Accruals for these uncertain tax positions are recorded in “Income taxes payable” and “Deferred and other income taxes” in the accompanying condensed consolidated balance sheets based on the expectation as to the timing of when the matters will be resolved. As events change and resolution occurs, these accruals are adjusted, such as in the case of audit settlements with taxing authorities.

The IRS currently is performing an audit of our 2008 and 2009 federal income tax returns. At this stage, the outcome of the audit is uncertain; however, we believe that any contingencies are adequately provided for. We do not expect to conclude this examination within the next twelve months.

During the second quarter of 2010, the IRS completed the field examination of our 2006 and 2007 federal income tax returns and issued a Revenue Agent’s report (“RAR”). We disagreed with and have protested certain adjustments to the Appeals Office of the IRS. Upon issuance of the RAR, we reduced a portion of our valuation allowance and our liability for uncertain tax positions to reflect amounts determined to be effectively settled or that satisfied the more likely than not threshold, resulting in the recognition of income tax benefits of $22.0 and $7.3 to continuing and discontinued operations, respectively. While the resolution of these adjustments may result in tax liabilities that may differ from the accruals established, we believe that the resolution of these matters will not have a material adverse effect on our financial position, results of operations or cash flows. It is reasonably possible that these matters will be resolved within the next twelve months.

State income tax returns generally are subject to examination for a period of three to five years after filing the respective tax returns. The impact on such tax returns of any federal changes remains subject to examination by various states for a period of up to one year after formal notification to the states. We have various state income tax returns in the process of examination, administrative appeals or litigation. We believe that any uncertain tax positions related to these examinations have been adequately provided for.

We have various foreign income tax returns under examination. Significant jurisdictions with tax examinations underway include: Canada for the 2000 to 2002 and 2006 tax returns, Germany for the 2005 to 2009 tax returns, and the United Kingdom for the 2008 tax return. We believe that any uncertain tax positions related to these examinations have been adequately provided for. During the second quarter of 2011 we were notified of the determination rendered on a Canadian federal income tax appeal and recognized a $2.5 tax benefit upon the effective settlement of the various issues. The outcome of the provincial taxes related to these matters is still pending.

An unfavorable resolution on one or more of the above matters could have a material adverse effect on our results of operations or cash flows in the quarter and year in which an adjustment is recorded or the tax is due or paid. As audits and examinations are still in process or we have not yet reached the final stages of the appeals process for the above matters, the timing of the ultimate resolution and any payments that may be required for the above matters cannot be determined at this time.

Upon the conclusion of our disposition activities discussed in Note 3 to these condensed consolidated financial statements, we may recognize an additional income tax provision or benefit, generally as part of discontinued operations.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph h

-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 136, 172

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 43, 44, 45, 46, 47, 48, 49

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 15

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-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h))

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-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

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+ Details

FAIR VALUE

6 Months Ended

Jul. 02, 2011

FAIR VALUE

FAIR VALUE

(15) FAIR VALUE

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In the absence of active markets for the identical assets or liabilities, such measurements involve developing assumptions based on market observable data and, in the absence of such data, internal information that is consistent with what market participants would use in a hypothetical transaction that occurs at the measurement date. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. Preference is given to observable inputs. These two types of inputs create the following fair value hierarchy:

· Level 1 — Quoted prices for identical instruments in active markets.

· Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.

· Level 3 — Significant inputs to the valuation model are unobservable.

The following section describes the valuation methodologies we use to measure different financial instruments at fair value on a recurring basis.

Derivative Financial Instruments

Our financial derivative assets and liabilities include FX forward contracts, FX embedded derivatives and commodity contracts, which are valued using valuation models that measure fair value using observable market inputs such as forward rates, interest rates, our own credit risk and our counterparties’ credit risks. Based on these inputs, the derivative assets and liabilities are classified within Level 2 of the valuation hierarchy. We have not made any adjustments to the inputs obtained from the independent sources. Based on our continued ability to enter into forward contracts, we consider the markets for our fair value instruments to be active. We primarily use the income approach, which uses valuation techniques to convert future amounts to a single present amount.

As of July 2, 2011, there has been no significant impact to the fair value of our derivative liabilities due to our own credit risk as the related instruments are collateralized under our senior credit facilities. Similarly, there has been no significant impact to the fair value of our derivative assets based on our evaluation of our counterparties’ credit risk.

Investments in Equity Securities

Our available-for-sale securities include equity investments that are traded in active international markets. They are measured at fair value using closing stock prices from active markets and are classified within Level 1 of the valuation hierarchy.

Certain of our investments in equity securities that are not readily marketable are accounted for under the fair value option, with such values determined by multidimensional pricing models. These models consider market activity based on modeling of securities with similar credit quality, duration, yield and structure. A variety of inputs are used, including benchmark yields, reported trades, non-binding broker/dealer quotes, issuer spread and reference data including market research publications. Market indicators, industry and economic events are also considered. We have not made any adjustments to the inputs obtained from the independent sources. At July 2, 2011 and December 31, 2010, these assets had a fair value of $7.8 and $8.5, respectively, estimated using various valuation models, including the Monte-Carlo simulation model.

Assets and liabilities measured at fair value on a recurring basis include the following as of July 2, 2011:

	Fair Value Measurements Using
	Level 1		Level 2		Level 3
Current assets — FX embedded derivatives, FX forward contracts and commodity contracts	$	—	$	5.5	$	—
Noncurrent assets — Investment in equity securities and available-for-sale securities	7.6		—		7.8
Current liabilities — FX forward contracts and FX embedded derivatives	—		5.3		—
Long-term liabilities — FX embedded derivatives	—		24.0		—

Assets and liabilities measured at fair value on a recurring basis include the following as of December 31, 2010:

	Fair Value Measurements Using
	Level 1		Level 2		Level 3
Current assets — FX embedded derivatives, FX forward contracts and commodity contracts	$	—	$	4.1	$	—
Noncurrent assets — Investment in equity securities and available-for-sale securities	12.8		—		8.5
Current liabilities — FX forward contracts and FX embedded derivatives	—		6.1		—
Long-term liabilities — FX embedded derivatives	—		33.2		—

The table below presents a reconciliation of our investment in equity securities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the six months ended July 2, 2011, including net unrealized losses included in earnings.

	Six months ended July 2, 2011
Balance at beginning of year	$	8.5
Purchases	—
Losses included in earnings	(0.7		)
Balance at July 2, 2011	$	7.8

During the second quarter of 2011, we determined that the fair value of our SPX Heat Transfer Inc. reporting unit was less than the carrying value of its net assets (see Note 7). The fair value of SPX Heat Transfer Inc. was based upon weighting the income and market approaches, utilizing estimated cash flows and a terminal value discounted at a rate of return that reflects the relative risk of the cash flows, as well as valuation multiples derived from comparable publicly-traded companies that are applied to the historical and projected operating results of SPX Heat Transfer Inc. (unobservable inputs — Level 3). We estimated the implied fair value of SPX Heat Transfer Inc.’s goodwill, which resulted in an impairment charge related to such goodwill of $17.2 during the second quarter of 2011. In addition, we recorded an impairment charge in the second quarter of 2011 of $7.5 related to the indefinite-lived intangible assets of SPX Heat Transfer Inc., with the fair value of these intangible assets determined based on a projection of cash flows for the assets discounted at a rate of return that reflects the relative risk of the cash flows (unobservable inputs — Level 3).

During the second quarter of 2011, we recorded an impairment charge of $3.7, to “Special charges, net” related to the rationalization of certain software assets that occurred as a result of the integration of the DS acquisition (see Note 3). The fair value of these assets ($16.2) was determined by obtaining information in the specific markets being evaluated, including the costs incurred to produce similar assets and assumptions about demand in the market for these assets (unobservable inputs - Level 3).

During the second quarter of 2011, we determined that a trademark held by a business within our Industrial Products and Services segment was impaired and, thus, we recorded an impairment charge of $0.8 to “Special charges, net” during 2011. We determined the fair value of $1.2 by applying an estimated royalty rate to projected revenues, with the resulting cash flows discounted at a rate of return that reflects current market conditions (unobservable inputs - Level 3).

During the six months ended July 3, 2010, we recorded impairment charges of $2.0, to “Special charges, net” related to an idle facility and certain machinery and equipment (see Note 5). The fair values of these assets ($2.5 and $0.4, respectively) were based on the estimated selling prices. We determined the estimated selling prices by obtaining information in the specific markets being evaluated, including comparable sales of similar assets and assumptions about demand in the market for these assets (unobservable inputs - Level 3).

The carrying amount of cash and equivalents and receivables reported in our condensed consolidated balance sheets approximates fair value because of the short maturity of those instruments.

The fair value of our debt instruments, based on borrowing rates available to us at July 2, 2011 for similar debt, was $1,337.1 at July 2, 2011, compared to our carrying value of $1,246.8.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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-Paragraph 44A, 44B

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-Number 107

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-Number 159

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+ Details

BASIS OF PRESENTATION (Policies)

6 Months Ended

Jul. 02, 2011

BASIS OF PRESENTATION

Investments in unconsolidated subsidiaries and variable interest entities

ACQUISITIONS AND DISCONTINUED OPERATIONS (Policies)

6 Months Ended

Jul. 02, 2011

ACQUISITIONS AND DISCONTINUED OPERATIONS

Discontinued Operations

- Definition

Disclosure of accounting policy for any discontinued operations. The results of operations of a component of an entity that either has been disposed of or is classified as held for sale is reported in discontinued operations if both: (a) the operations and cash flows of the component have been (or will be) eliminated from the ongoing operations of the entity as a result of the disposal transaction and (b) the entity will not have any significant continuing involvement in the operations of the component after the disposal transaction. If the entity elects to allocate interest expense to a discontinued operation, it may disclose its accounting policy for this election and describe its method of allocation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 03-13

-Paragraph 17

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 87-24

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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-Number 144

-Paragraph 41, 42, 43, 44

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-Paragraph 3

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-URI http://asc.fasb.org/subtopic&trid=2122178

+ Details

BUSINESS SEGMENT INFORMATION (Policies)

6 Months Ended

Jul. 02, 2011

BUSINESS SEGMENT INFORMATION

Segment Reporting

The factors considered in determining our aggregated segments are the economic similarity of the businesses, the nature of products sold or services provided, production processes, types of customers and distribution methods. In determining our segments, we apply the threshold criteria of the Segment Reporting Topic of the Codification to operating income or loss of each segment before considering impairment and special charges, pensions and postretirement expense, stock-based compensation and other indirect corporate expenses (“Segment income”). This is consistent with the way our chief operating decision maker evaluates the results of each segment.

GOODWILL AND OTHER INTANGIBLE ASSETS (Policies)

6 Months Ended

Jul. 02, 2011

GOODWILL AND OTHER INTANGIBLE ASSETS

Impairment testing

- Definition

Disclosure of accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets.

+ References+ Details

DERIVATIVE FINANCIAL INSTRUMENTS (Policies)

6 Months Ended

Jul. 02, 2011

DERIVATIVE FINANCIAL INSTRUMENTS

Accounting for currency forward and commodity contract cash flow hedges

Certain of our FX forward contracts are designated as cash flow hedges, as deemed appropriate. To the extent these derivatives are effective in offsetting the variability of the hedged cash flows, changes in the derivatives’ fair value are not included in current earnings, but are included in accumulated other comprehensive loss (“AOCI”). These changes in fair value will subsequently be reclassified into earnings as a component of revenues or cost of goods sold, as applicable, when the forecasted transaction impacts earnings. In addition, if the forecasted transaction is no longer probable the cumulative change in the derivatives’ fair value will be recorded as a component of other income (expense), net in the period it occurs. To the extent that a previously designated hedging transaction is no longer an effective hedge, any ineffectiveness measured in the hedging relationship is recorded in earnings in the period it occurs. We designate and account for these contracts as cash flow hedges and, to the extent these commodity contracts are effective in offsetting the variability of the forecasted purchases, the change in fair value is included in AOCI. We reclassify the AOCI associated with our commodity contracts to cost of products sold when the forecasted transaction impacts earnings.

- Definition

Disclosure of accounting policy for derivatives used in hedging relationships, which may include how gains or losses are recognized and presented in the financial statements, and amortization policies for deferred amounts.

+ References+ Details

CONTINGENCIES AND OTHER MATTERS (Policies)

6 Months Ended

Jul. 02, 2011

CONTINGENCIES AND OTHER MATTERS

Environmental matters

Our estimates are based primarily on investigations and remediation plans established by independent consultants, regulatory agencies and potentially responsible third parties. Accordingly, our estimates may change based on future developments, including new or changes in existing environmental laws or policies, differences in costs required to complete anticipated actions from estimates provided, future findings of investigation or remediation actions, or alteration to the expected remediation plans. It is our policy to realize a change in estimate once it becomes probable and can be reasonably estimated. We do not discount our environmental accruals and do not reduce them by anticipated insurance recoveries. We do take into account third-party indemnification from financially viable parties in determining our accruals where there is no dispute regarding the right to indemnification.

- Definition

Disclosure of accounting policy for obligations that resulted from improper or other-than normal operation of a long-lived asset in the past. This accounting policy may address (1) whether the related remediation costs are expensed or capitalized, (2) whether the obligation is measured on a discounted basis, (3) the event, situation, or set of circumstances that generally triggers recognition of loss contingencies arising from the entity's environmental remediation-related obligations, and (4) the timing of recognition of any recoveries.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Statement of Position (SOP)

-Number 96-1

-Paragraph 99, 100, 101, 147, 148, 149, 150, 152, 153, 154

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-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 89-13

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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+ Details

ACQUISITIONS AND DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Jul. 02, 2011

ACQUISITIONS AND DISCONTINUED OPERATIONS

Schedule of businesses sold showing quarter discontinued and quarter sold

Business	Quarter Discontinued	Quarter of Sale
Cooling Spain Packaging business (“Cooling Spain”)	Q4 2010	Q4 2010
P.S.D., Inc. (“PSD”)	Q2 2009	Q1 2010

Schedule of income (loss) from discontinued operations and related income taxes

	Three months ended					Six months ended
	July 2,			July 3,		July 2,			July 3,
	2011			2010		2011			2010
Income (loss) from discontinued operations	$	(0.6	)	$	—	$	(2.7	)	$	2.0
Income tax benefit	3.3			8.4		3.5			9.8
Income from discontinued operations, net	$	2.7		$	8.4	$	0.8		$	11.8

Schedule of results of operations of businesses reported as discontinued operations

	Three months ended					Six months ended
	July 2,		July 3,			July 2,		July 3,
	2011		2010			2011		2010
Revenues	$	—	$	0.9		$	—	$	3.8
Pre-tax loss	—		(0.2		)	—		(0.4		)

BUSINESS SEGMENT INFORMATION (Tables)

6 Months Ended

Jul. 02, 2011

BUSINESS SEGMENT INFORMATION

Schedule of business segment financial data, including the results of acquisitions from the respective dates of acquisition

	Three months ended						Six months ended
	July 2,			July 3,			July 2,			July 3,
	2011			2010			2011			2010
Revenues (1):
Flow Technology	$	492.8		$	383.4		$	948.7		$	737.4
Test and Measurement	288.1			239.9			537.0			444.3
Thermal Equipment and Services	431.9			392.2			757.2			744.6
Industrial Products and Services	171.2			173.3			340.1			347.1
Total revenues	$	1,384.0		$	1,188.8		$	2,583.0		$	2,273.4

Segment income:
Flow Technology	$	56.6		$	45.2		$	113.0		$	86.5
Test and Measurement	29.0			23.7			48.6			37.1
Thermal Equipment and Services	35.8			49.1			57.1			80.8
Industrial Products and Services	10.9			17.7			28.1			37.8
Total segment income	132.3			135.7			246.8			242.2

Corporate expense	(23.7		)	(22.5		)	(54.8		)	(45.2		)
Pension and postretirement expense	(9.1		)	(12.9		)	(18.3		)	(26.1		)
Stock-based compensation expense	(7.0		)	(8.2		)	(26.7		)	(20.1		)
Impairment of goodwill and other intangible assets	(24.7		)	—			(24.7		)	—
Special charges, net	(8.9		)	(4.4		)	(12.0		)	(11.2		)

Consolidated operating income	$	58.9		$	87.7		$	110.3		$	139.6

SPECIAL CHARGES (Tables)

6 Months Ended

Jul. 02, 2011

SPECIAL CHARGES

Schedule of special charges, net

	Three months ended				Six months ended
	July 2,		July 3,		July 2,		July 3,
	2011		2010		2011		2010
Flow Technology	$	2.2	$	3.8	$	3.8	$	6.5
Test and Measurement	4.8		0.5		5.5		3.3
Thermal Equipment and Services	1.0		—		1.8		1.2
Industrial Products and Services	0.8		—		0.8		—
Corporate	0.1		0.1		0.1		0.2
Total	$	8.9	$	4.4	$	12.0	$	11.2

Rollforward of restructuring and integration liabilities

	Six months ended
	July 2,			July 3,
	2011			2010
Beginning balance	$	20.7		$	26.0
Special charges (1)	7.5			9.2
Adjustments related to acquisition accounting	—			0.3
Utilization — cash	(15.5		)	(17.2		)
Currency translation adjustment and other	1.1			(1.2		)
Ending balance	$	13.8		$	17.1

(1) The six months ended July 2, 2011 and July 3, 2010 exclude $4.5 and $2.0, respectively, of non-cash special charges that did not impact the restructuring and integration related liabilities.

INVENTORIES (Tables)

6 Months Ended

Jul. 02, 2011

INVENTORIES

Schedule of inventories

	July 2, 2011			December 31, 2010
Finished goods	$	236.4		$	190.3
Work in process	145.3			113.9
Raw material and purchased parts	316.4			292.5
Total FIFO cost	698.1			596.7
Excess of FIFO cost over LIFO inventory value	(32.2		)	(32.4		)
Total inventories	$	665.9		$	564.3

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

6 Months Ended

Jul. 02, 2011

GOODWILL AND OTHER INTANGIBLE ASSETS

Schedule of changes in the carrying amount of goodwill, by segment

	December 31, 2010			Goodwill resulting from business combinations		Impairments			Foreign Currency Translation and other (1)			July 2, 2011
Flow Technology

Gross Goodwill	$	702.7		$	3.2	$	—		$	31.2		$	737.1
Accumulated Impairments	—			—		—			—			—
Goodwill	702.7			3.2		—			31.2			737.1

Test & Measurement

Gross Goodwill	434.5			18.0		—			10.1			462.6
Accumulated Impairments	(257.0		)	—		—			(6.4		)	(263.4		)
Goodwill	177.5			18.0		—			3.7			199.2

Thermal Equipment and Services

Gross Goodwill	602.6			—		—			15.8			618.4
Accumulated Impairments	(114.1		)	—		(17.2		)	—			(131.3		)
Goodwill	488.5			—		(17.2		)	15.8			487.1

Industrial Products and Services

Gross Goodwill	351.8			—		—			(0.8		)	351.0
Accumulated Impairments	(85.9		)	—		—			—			(85.9		)
Goodwill	265.9			—		—			(0.8		)	265.1

Total

Gross Goodwill	2,091.6			21.2		—			56.3			2,169.1
Accumulated Impairments	(457.0		)	—		(17.2		)	(6.4		)	(480.6		)
Goodwill	$	1,634.6		$	21.2	$	(17.2	)	$	49.9		$	1,688.5

(1) Includes adjustments resulting from recent acquisitions not consummated during the six months ended July 2, 2011 of $1.8 and foreign currency translation adjustments totaling $48.1.

Schedule of identifiable intangible assets

	July 2, 2011							December 31, 2010
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Intangible assets with determinable lives:
Patents	$	19.4	$	(17.2	)	$	2.2	$	24.6	$	(21.6	)	$	3.0
Technology	122.5		(28.9		)	93.6		116.7		(23.3		)	93.4
Customer relationships	271.4		(62.8		)	208.6		239.7		(51.6		)	188.1
Other	39.0		(16.1		)	22.9		35.4		(13.5		)	21.9
	452.3		(125.0		)	327.3		416.4		(110.0		)	306.4
Trademarks with indefinite lives (1)	414.9		—			414.9		413.1		—			413.1
Total	$	867.2	$	(125.0	)	$	742.2	$	829.5	$	(110.0	)	$	719.5

- Definition

Tabular disclosure of goodwill by reportable segment and in total. Disclosure details may include, but are not limited to, the carrying amount of goodwill, goodwill acquired during the year, goodwill impairment losses recognized, goodwill written-off due to the sale of a business unit, goodwill not yet allocated, and any other changes to goodwill.

+ References+ Details

WARRANTY (Tables)

6 Months Ended

Jul. 02, 2011

WARRANTY

Schedule of product warranty accrual

	Six months ended
	July 2,			July 3,
	2011			2010
Balance at beginning of period	$	55.8		$	56.7
Acquisitions	1.1			0.2
Provisions	11.0			12.5
Usage	(11.1		)	(16.5		)
Balance at end of period	56.8			52.9
Less: Current portion of warranty	46.9			41.4
Non-current portion of warranty	$	9.9		$	11.5

EMPLOYEE BENEFIT PLANS (Tables)

6 Months Ended

Jul. 02, 2011

EMPLOYEE BENEFIT PLANS

Schedule of net periodic benefit expense for pension and postretirement plans

Domestic Pension Plans

	Three months ended						Six months ended
	July 2,			July 3,			July 2,			July 3,
	2011			2010			2011			2010
Service cost	$	2.4		$	2.3		$	5.0		$	4.7
Interest cost	14.2			15.3			28.7			30.6
Expected return on plan assets	(16.2		)	(17.1		)	(32.7		)	(34.2		)
Amortization of unrecognized losses	5.8			9.0			11.6			18.3
Amortization of unrecognized prior service credits	(0.2		)	(0.2		)	(0.4		)	(0.4		)
Total net periodic benefit expense	6.0			9.3			12.2			19.0
Less: Net periodic benefit expense of discontinued operations	—			—			—			—
Net periodic benefit expense of continuing operations	$	6.0		$	9.3		$	12.2		$	19.0

Foreign Pension Plans

	Three months ended						Six months ended
	July 2,			July 3,			July 2,			July 3,
	2011			2010			2011			2010
Service cost	$	0.7		$	0.5		$	1.3		$	1.1
Interest cost	3.6			3.4			7.2			6.9
Expected return on plan assets	(4.2		)	(3.4		)	(8.3		)	(7.0		)
Amortization of unrecognized losses	0.3			0.4			0.5			0.8
Total net periodic benefit expense	0.4			0.9			0.7			1.8
Less: Net periodic benefit expense of discontinued operations	—			—			—			—
Net periodic benefit expense of continuing operations	$	0.4		$	0.9		$	0.7		$	1.8

Postretirement Plans

	Three months ended						Six months ended
	July 2,			July 3,			July 2,			July 3,
	2011			2010			2011			2010
Service cost	$	0.1		$	—		$	0.2		$	0.1
Interest cost	1.8			2.0			3.6			4.0
Amortization of unrecognized losses	1.1			1.0			2.3			1.9
Amortization of unrecognized prior service credits	(0.3		)	(0.3		)	(0.7		)	(0.7		)
Net periodic postretirement benefit expense of continuing operations	$	2.7		$	2.7		$	5.4		$	5.3

INDEBTEDNESS (Tables)

6 Months Ended

Jul. 02, 2011

INDEBTEDNESS

Schedule of debt activity (both current and non-current)

	December 31, 2010		Borrowings		Repayments			Other (5)		July 2, 2011
Domestic revolving credit facility	$	—	$	375.0	$	(340.0	)	$	—	$	35.0
6.875% senior notes	600.0		—		—			—		600.0
7.625% senior notes	500.0		—		—			—		500.0
7.50% senior notes (1)	28.2		—		(28.2		)	—		—
6.25% senior notes (2)	21.3		—		(21.3		)	—		—
Trade receivables financing arrangement (3)	—		86.0		(29.0		)	—		57.0
Other indebtedness (4)	48.1		6.6		(0.8		)	0.9		54.8
Total debt	1,197.6		$	467.6	$	(419.3	)	$	0.9	1,246.8
Less: short-term debt	36.3									134.8
Less: current maturities of long-term debt	50.8									1.3
Total long-term debt	$	1,110.5								$	1,110.7

(1) These notes were redeemed in full in January 2011.

(2) These notes were redeemed in full in June 2011.

(3) Under this arrangement, we can borrow, on a continuous basis, up to $130.0, as available.

(4) Includes balances under a purchase card program of $42.8 and $36.1 at July 2, 2011 and December 31, 2010, respectively.

(5) “Other” includes foreign currency translation on any debt instruments denominated in currencies other than the U.S. dollar.

Schedule of fees charged and the interest rate margins applicable to Eurodollar and alternate base rate loans

Consolidated Leverage Ratio	Domestic Revolving Commitment Fee		Global Revolving Commitment Fee		Letter of Credit Fee		Foreign Credit Commitment Fee and Bilateral Foreign Credit Fee		Foreign Credit Instrument Fee and Bilateral Foreign Credit Fee		LIBOR Rate Loans		ABR Loans

Greater than or equal to 3.00 to 1.0	0.40	%	0.40	%	2.00	%	0.40	%	1.25	%	2.00	%	1.00	%
Between 2.00 to 1.0 and 3.00 to 1.0	0.35	%	0.35	%	1.875	%	0.35	%	1.125	%	1.875	%	0.875	%
Between 1.50 to 1.0 and 2.00 to 1.0	0.30	%	0.30	%	1.75	%	0.30	%	1.00	%	1.75	%	0.75	%
Between 1.00 to 1.0 and 1.50 to 1.0	0.275	%	0.275	%	1.50	%	0.275	%	0.875	%	1.50	%	0.50	%
Less than 1.00 to 1.0	0.25	%	0.25	%	1.25	%	0.25	%	0.75	%	1.25	%	0.25	%

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jul. 02, 2011

DERIVATIVE FINANCIAL INSTRUMENTS

Summary of fair value of derivative instruments and the balance sheet classification

	July 2, 2011				December 31, 2010
	Balance Sheet Classification	Fair Value			Balance Sheet Classification	Fair Value
Derivative contracts designated as hedging instruments:

Commodity contracts	Other current assets	$	0.4		Other current assets	$	1.0
FX forward contracts	Other current assets	0.1			—	—
		$	0.5			$	1.0

FX forward contracts	Accrued expenses	$	(0.2	)	Accrued expenses	$	(2.9	)
		$	(0.2	)		$	(2.9	)

Derivative contracts not designated as hedging instruments:

FX forward contracts	Other current assets	$	3.9		Other current assets	$	0.5
FX embedded derivatives	Other current assets	1.1			Other current assets	2.6
		$	5.0			$	3.1

FX forward contracts	Accrued expenses	$	(0.1	)	Accrued expenses	$	(1.4	)
FX embedded derivatives	Accrued expenses	(5.0		)	Accrued expenses	(1.8		)
FX embedded derivatives	Other long-term liabilities	(24.0		)	Other long-term liabilities	(33.2		)
		$	(29.1	)		$	(36.4	)

Schedule of effect on AOCI and the Statements of Operations of derivative financial instruments in cash flow hedging relationships

	Amount of gain (loss) recognized in AOCI, pre-tax (1)					Classification of gain (loss)	Amount of gain (loss) reclassified from AOCI to income, pre-tax (1)
	2011		2010			reclassified from AOCI	2011		2010
Swaps	$	—	$	(2.0	)	Interest expense	$	—	$	(5.2	)
FX forward contracts	0.5		(1.2		)	Cost of products sold	0.1		—
FX embedded derivatives	—		0.8			Cost of products sold	—		0.4
Commodity contracts	0.2		(1.1		)	Cost of products sold	0.4		0.3
	$	0.7	$	(3.5	)		$	0.5	$	(4.5	)

	Amount of gain (loss) recognized in AOCI, pre-tax (1)					Classification of gain (loss)	Amount of gain (loss) reclassified from AOCI to income, pre-tax (1)
	2011		2010			reclassified from AOCI	2011			2010
Swaps	$	—	$	(6.2	)	Interest expense	$	—		$	(10.8	)
FX forward contracts	—		(3.3		)	Cost of products sold	(0.5		)	—
FX embedded derivatives	—		2.6			Cost of products sold	—			0.6
Commodity contracts	—		(0.9		)	Cost of products sold	0.8			0.6
	$	—	$	(7.8	)		$	0.3		$	(9.6	)

Schedule of the effect on the Statement of Operations of derivative financial instruments not designated in cash flow hedging relationships

	Classification of gain (loss) recognized in	Amount of gain (loss) recognized in income
	income	2011			2010
FX forward contracts	Other income (expense), net	$	0.9		$	2.8
FX embedded derivatives	Other income (expense), net	(2.7		)	(10.4		)
		$	(1.8	)	$	(7.6	)

	Classification of gain (loss) recognized in	Amount of gain (loss) recognized in income
	income	2011			2010
FX forward contracts	Other income (expense), net	$	1.6		$	2.5
FX embedded derivatives (1)	Other income (expense), net	(2.4		)	(22.5		)
		$	(0.8	)	$	(20.0	)

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details

EQUITY AND STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jul. 02, 2011

EQUITY AND STOCK-BASED COMPENSATION

Schedule of weighted-average shares outstanding, used in the computation of basic and diluted income per share

	Three months ended		Six months ended
	July 2,	July 3,	July 2,	July 3,
	2011	2010	2011	2010
Weighted-average shares outstanding used in basic income per share	50.554	49.657	50.410	49.594
Dilutive securities — employee stock options, restricted stock and restricted stock units	0.811	0.637	0.748	0.515
Weighted-average number of common and dilutive securities used for calculating diluted income per share	51.365	50.294	51.158	50.109

Schedule of assumptions in determining the fair value of restricted stock awards granted

	Annual expected stock price volatility		Annual expected dividend yield		Risk-free interest rate		Correlation between total shareholder return for SPX and S&P 500 Composite Index
March 1, 2011:
SPX Corporation	61.0	%	1.27	%	1.03	%	0.7559
S&P 500 Composite Index	30.3	%	n/a		1.03	%
March 1, 2010:
SPX Corporation	62.0	%	1.64	%	1.20	%	0.7250
S&P 500 Composite Index	30.8	%	n/a		1.20	%

Schedule of restricted stock and restricted stock unit activity

	Unvested Restricted Stock and Restricted Stock Units		Weighted-Average Grant-Date Fair Value
Outstanding at December 31, 2010	1.516		$	50.97
Granted	0.803		63.09
Vested	(0.634	)	51.47
Forfeited	(0.235	)	69.60
Outstanding at July 2, 2011	1.450		54.34

Schedule of stock option activity

	Shares		Weighted-Average Exercise Price
Options outstanding at December 31, 2010	0.635		$	63.82
Exercised	(0.140	)	65.52
Forfeited	(0.113	)	90.93
Options outstanding and exercisable at July 2, 2011	0.382		55.21

Schedule of components of the balance sheet caption, accumulated other comprehensive loss

	July 2, 2011			December 31, 2010
Foreign currency translation adjustment	$	345.1		$	223.2
Net unrealized losses on qualifying cash flow hedges, net of tax benefit of $2.2	(3.6		)	(3.3		)
Net unrealized gains on available-for-sale securities	0.9			6.1
Pension liability adjustment, net of tax benefit of $262.0 and $266.6, respectively (1)	(411.6		)	(418.6		)
Accumulated other comprehensive loss	$	(69.2	)	$	(192.6	)

(1) As of July 2, 2011 and December 31, 2010, includes $3.1 and $3.2, respectively, related to our share of the pension liability adjustment for EGS.

Schedule of changes in equity

	July 2, 2011								July 3, 2010
	SPX Corporation Shareholders’ Equity			Noncontrolling Interest		Total Equity			SPX Corporation Shareholders’ Equity			Noncontrolling Interest			Total Equity
Equity, beginning of period	$	2,217.5		$	5.4	$	2,222.9		$	1,846.7		$	10.3		$	1,857.0
Net income (loss)	34.3			0.7		35.0			78.8			(0.8		)	78.0
Net unrealized gains on qualifying cash flow hedges net of tax provision of $0.1 and $0.3, respectively	0.1			—		0.1			0.7			—			0.7
Net unrealized loss on available-for-sale securities	(2.8		)	—		(2.8		)	—			—			—
Pension liability adjustment, net of tax provision of $2.6 and $3.8, respectively	4.6			—		4.6			6.4			—			6.4
Foreign currency translation adjustments	32.4			0.2		32.6			(97.5		)	(0.4		)	(97.9		)
Total comprehensive income (loss)	68.6			0.9		69.5			(11.6		)	(1.2		)	(12.8		)
Dividends declared	(12.8		)	—		(12.8		)	(12.4		)	—			(12.4		)
Exercise of stock options and other incentive plan activity, including tax benefit of $0.1 and $0.2, respectively	7.1			—		7.1			6.1			—			6.1
Amortization of restricted stock and restricted stock unit grants	7.0			—		7.0			8.2			—			8.2
Restricted stock and restricted stock unit vesting, net of tax withholdings	—			—		—			(0.4		)	—			(0.4		)
Dividends attributable to noncontrolling interest	—			—		—			—			(0.3		)	(0.3		)
Other changes in noncontrolling interest	—			—		—			—			(0.1		)	(0.1		)
Equity, end of period	$	2,287.4		$	6.3	$	2,293.7		$	1,836.6		$	8.7		$	1,845.3

A summary of the changes in equity for the six months ended July 2, 2011 and July 3, 2010 is provided below:

	July 2, 2011									July 3, 2010
	SPX Corporation Shareholders’ Equity			Noncontrolling Interests			Total Equity			SPX Corporation Shareholders’ Equity			Noncontrolling Interests			Total Equity
Equity, beginning of period	$	2,097.7		$	6.3		$	2,104.0		$	1,870.8		$	10.7		$	1,881.5
Net income (loss)	57.4			2.4			59.8			100.9			(1.6		)	99.3
Net unrealized gains (losses) on qualifying cash flow hedges, net of tax provision of $2.1 for the six months ended July 3, 2010	(0.3		)	—			(0.3		)	4.3			—			4.3
Net unrealized loss on available-for-sale securities	(5.2		)	—			(5.2		)	—			—			—
Pension liability adjustment, net of tax (provision) benefit of ($4.6) and $1.6, respectively	7.0			—			7.0			23.1			—			23.1
Foreign currency translation adjustments	121.9			0.6			122.5			(158.7		)	(0.2		)	(158.9		)
Total comprehensive income (loss)	180.8			3.0			183.8			(30.4		)	(1.8		)	(32.2		)
Dividends declared	(25.5		)	—			(25.5		)	(24.9		)	—			(24.9		)
Exercise of stock options and other incentive plan activity, including tax benefit of $5.7 and $1.8, respectively	24.3			—			24.3			13.2			—			13.2
Amortization of restricted stock and restricted stock unit grants	26.7			—			26.7			20.1			—			20.1
Restricted stock and restricted stock unit vesting, net of tax withholdings	(16.6		)	—			(16.6		)	(12.2		)	—			(12.2		)
Dividends attributable to noncontrolling interests	—			(4.1		)	(4.1		)	—			(0.3		)	(0.3		)
Other changes in noncontrolling interests	—			1.1			1.1			—			0.1			0.1
Equity, end of period	$	2,287.4		$	6.3		$	2,293.7		$	1,836.6		$	8.7		$	1,845.3

FAIR VALUE (Tables)

6 Months Ended

Jul. 02, 2011

FAIR VALUE

Schedule of assets and liabilities measured at fair value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis include the following as of July 2, 2011:

	Fair Value Measurements Using
	Level 1		Level 2		Level 3
Current assets — FX embedded derivatives, FX forward contracts and commodity contracts	$	—	$	5.5	$	—
Noncurrent assets — Investment in equity securities and available-for-sale securities	7.6		—		7.8
Current liabilities — FX forward contracts and FX embedded derivatives	—		5.3		—
Long-term liabilities — FX embedded derivatives	—		24.0		—

Assets and liabilities measured at fair value on a recurring basis include the following as of December 31, 2010:

	Fair Value Measurements Using
	Level 1		Level 2		Level 3
Current assets — FX embedded derivatives, FX forward contracts and commodity contracts	$	—	$	4.1	$	—
Noncurrent assets — Investment in equity securities and available-for-sale securities	12.8		—		8.5
Current liabilities — FX forward contracts and FX embedded derivatives	—		6.1		—
Long-term liabilities — FX embedded derivatives	—		33.2		—

Schedule of reconciliation of investments in equity securities measured at fair value on a recurring basis using significant unobservable inputs (Level 3)

	Six months ended July 2, 2011
Balance at beginning of year	$	8.5
Purchases	—
Losses included in earnings	(0.7		)
Balance at July 2, 2011	$	7.8

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details

BASIS OF PRESENTATION (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jul. 02, 2011	Jul. 03, 2010	Jul. 02, 2011	Jul. 03, 2010
BASIS OF PRESENTATION
Length of quarter (in days)	91
Investment in joint venture under equity method investment
Equity earnings in joint ventures	$ 5.0	$ 7.2	$ 13.8	$ 15.9
Business acquisitions, net of cash paid			52.4	58.3
Electrical Group, LLC and Subsidiaries ("EGS")
Investment in joint venture under equity method investment
Percentage of interest held in joint venture (as a percent)	44.50%		44.50%
Lag in including results in consolidated statements (in months)			3M
Revenues from joint venture	114.3	104.2	233.3	216.1
Equity earnings in joint ventures	4.8	6.8	13.3	15.1
Electrical Group, LLC and Subsidiaries ("EGS") \| Nutsteel Industria Metalurgica Ltda
Investment in joint venture under equity method investment
Business acquisitions, net of cash paid		35.4
Contribution made by the entity to the joint venture to acquire new business		$ 15.8

- Definition

The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.

+ References+ Details

- Definition

This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 18

-Paragraph 19

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 18

-Paragraph 6

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 9

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.12)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6382870&loc=d3e33749-111570

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 11

-Article 7

+ Details

ACQUISITIONS AND DISCONTINUED OPERATIONS (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended		12 Months Ended		1 Months Ended	3 Months Ended	1 Months Ended	3 Months Ended	1 Months Ended	12 Months Ended	1 Months Ended	12 Months Ended	1 Months Ended	12 Months Ended
	Jul. 02, 2011	Jul. 03, 2010	Feb. 28, 2011 Teradyne Inc.'s Diagnostic Solutions business ("DS")	Feb. 28, 2011 B.W. Murdoch Ltd. ("Murdoch")	Mar. 31, 2011 Test and Measurement Teradyne Inc.'s Diagnostic Solutions business ("DS")	Jul. 02, 2011 Test and Measurement Teradyne Inc.'s Diagnostic Solutions business ("DS")	Mar. 31, 2011 Flow Technology B.W. Murdoch Ltd. ("Murdoch")	Jul. 02, 2011 Flow Technology B.W. Murdoch Ltd. ("Murdoch")	Jul. 31, 2010 Flow Technology Anhydro business	Jun. 30, 2010 Flow Technology Anhydro business	Feb. 28, 2010 Flow Technology Gerstenberg Schroder A/S ("Gerstenberg")	Jan. 31, 2010 Flow Technology Gerstenberg Schroder A/S ("Gerstenberg")	Apr. 30, 2010 Industrial Products and Services Torque Tension Systems Ltd. ("TTS")	Mar. 31, 2010 Industrial Products and Services Torque Tension Systems Ltd. ("TTS")
Acquisitions
Cash acquired in busines acquisition									$ 10.9		$ 3.5		$ 2.4
Working capital settlement						1.1		0.7
Revenues of the acquired business for the prior twelve months			42.0	13.0						71.0		57.0		9.0
Purchase price of the business acquired	52.4	58.3			40.2		8.1		59.1		30.9		15.7
Debt assumed in business acquisition											$ 3.9

- Definition

The amount of debt that an Entity assumes in acquiring a business or in consideration for an asset received in a noncash (or part noncash) acquisition. Noncash is defined as transactions during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.

+ References+ Details

ACQUISITIONS AND DISCONTINUED OPERATIONS (Details 2)	3 Months Ended		6 Months Ended		3 Months Ended	12 Months Ended		3 Months Ended			6 Months Ended
ACQUISITIONS AND DISCONTINUED OPERATIONS (Details 2)	Jul. 02, 2011 USD ($)	Jul. 03, 2010 USD ($)	Jul. 02, 2011 USD ($)	Jul. 03, 2010 USD ($)	Apr. 02, 2011 Cooling Spain Packaging business ("Cooling Spain") USD ($)	Dec. 31, 2010 Cooling Spain Packaging business ("Cooling Spain") USD ($)	Dec. 31, 2010 Cooling Spain Packaging business ("Cooling Spain") EUR (€)	Apr. 03, 2010 P.S.D., Inc. ("PSD") USD ($)	Jul. 02, 2011 Other businesses sold prior to the earliest date presented in the financial statements USD ($)	Jul. 03, 2010 Other businesses sold prior to the earliest date presented in the financial statements USD ($)	Jul. 02, 2011 Other businesses sold prior to the earliest date presented in the financial statements USD ($)	Jul. 03, 2010 Other businesses sold prior to the earliest date presented in the financial statements USD ($)
ACQUISITIONS AND DISCONTINUED OPERATIONS
Classification as discontinued operations, probable sale within time period (in months)			12M
Sale of discontinued operations
Cash consideration received in sale of discontinued operation							€ 1	$ 3,000,000
Cash transferred with the business in sale of discontinued operation						2,300,000
Gain (loss) on disposition of discontinued operations, net of tax	2,700,000	8,600,000	800,000	12,200,000		1,900,000		3,600,000
Adjustment to gain (loss) on sale of discontinued operations, net of tax					100,000				2,700,000	1,300,000	900,000	1,300,000
Recognition of income tax benefits to discontinuing operations		7,300,000
Income (loss) from discontinued operations and related income taxes
Income (loss) from discontinued operations	(600,000)		(2,700,000)	2,000,000
Income tax benefit	3,300,000	8,400,000	3,500,000	9,800,000
Income from discontinued operations, net of tax	2,700,000	8,400,000	800,000	11,800,000
Results of operations for businesses reported as discontinued operations
Revenues		900,000		3,800,000
Pre-tax loss		$ (200,000)		$ (400,000)

BUSINESS SEGMENT INFORMATION (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jul. 02, 2011	Jul. 03, 2010	Jul. 02, 2011	Jul. 03, 2010	Dec. 31, 2010
BUSINESS SEGMENT INFORMATION
Minimum number of countries in which entity operates	35		35
Number of reportable segments	4		4
Revenues:
Revenues	$ 1,384.0	$ 1,188.8	$ 2,583.0	$ 2,273.4
Segment income:
Total segment income	132.3	135.7	246.8	242.2
Corporate and other expenses:
Corporate expense	(23.7)	(22.5)	(54.8)	(45.2)
Pension and postretirement expense	(9.1)	(12.9)	(18.3)	(26.1)
Stock-based compensation expense	(7.0)	(8.2)	(26.7)	(20.1)
Impairment of goodwill and other intangible assets	(24.7)		(24.7)
Special charges, net	(8.9)	(4.4)	(12.0)	(11.2)
Operating income	58.9	87.7	110.3	139.6
Revenues detail
Revenues recognized under the percentage of completion method	397.3	313.5	698.9	615.7
Costs and estimated earnings in excess of billings on contracts accounted for under the percentage of completion method	264.2		264.2		228.1
Costs and estimated earnings in excess of billings on contracts reported as a component of accounts receivable, net	262.4		262.4		226.3
Costs and estimated earnings in excess of billings on contracts reported as a component of other assets	1.8		1.8		1.8
Billings in excess of costs and estimated earnings on uncompleted contracts accounted for under the percentage of completion method	276.3		276.3		373.9
Billings in excess of costs and estimated earnings on uncompleted contracts reported as a component of accrued expenses	269.8		269.8		364.5
Billings in excess of costs and estimated earnings on uncompleted contracts reported as a component of other long-term liabilities	6.5		6.5		9.4
Flow Technology
Revenues:
Revenues	492.8	383.4	948.7	737.4
Segment income:
Total segment income	56.6	45.2	113.0	86.5
Corporate and other expenses:
Special charges, net	(2.2)	(3.8)	(3.8)	(6.5)
Test and Measurement
Revenues:
Revenues	288.1	239.9	537.0	444.3
Segment income:
Total segment income	29.0	23.7	48.6	37.1
Corporate and other expenses:
Special charges, net	(4.8)	(0.5)	(5.5)	(3.3)
Thermal Equipment and Services
Revenues:
Revenues	431.9	392.2	757.2	744.6
Segment income:
Total segment income	35.8	49.1	57.1	80.8
Corporate and other expenses:
Special charges, net	(1.0)		(1.8)	(1.2)
Percentage interest in South African subsidiary held by noncontrolling interest shareholder (as a percent)	25.10%		25.10%
Industrial Products and Services
Revenues:
Revenues	171.2	173.3	340.1	347.1
Segment income:
Total segment income	10.9	17.7	28.1	37.8
Corporate and other expenses:
Special charges, net	$ (0.8)		$ (0.8)

SPECIAL CHARGES (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jul. 02, 2011	Jul. 03, 2010	Jul. 02, 2011	Jul. 03, 2010
Special charges, net
Special charges, net	$ 8.9	$ 4.4	$ 12.0	$ 11.2
Special charges relating to asset impairments			4.5	2.0
Restructuring and integration liabilities
Beginning balance			20.7	26.0
Special charges			7.5	9.2
Adjustments related to acquisition accounting				0.3
Utilization - cash			(15.5)	(17.2)
Currency translation adjustment and other			1.1	(1.2)
Ending balance	13.8	17.1	13.8	17.1
Australia
Special charges, net
Number of facilities with lease exit costs		1		1
New Zealand
Special charges, net
Number of facilities with lease exit costs		2		2
Germany
Special charges, net
Number of facilities with lease exit costs			2
Flow Technology
Special charges, net
Special charges, net	2.2	3.8	3.8	6.5
Special charges relating to asset impairments		1.0		1.0
Test and Measurement
Special charges, net
Special charges, net	4.8	0.5	5.5	3.3
Special charges relating to asset impairments	3.7		3.7
Thermal Equipment and Services
Special charges, net
Special charges, net	1.0		1.8	1.2
Special charges relating to asset impairments				1.0
Industrial Products and Services
Special charges, net
Special charges, net	0.8		0.8
Special charges relating to asset impairments	0.8		0.8
Corporate
Special charges, net
Special charges, net	$ 0.1	$ 0.1	$ 0.1	$ 0.2

INVENTORIES (Details) (USD $) In Millions, unless otherwise specified	Jul. 02, 2011	Dec. 31, 2010
INVENTORIES
Finished goods	$ 236.4	$ 190.3
Work in process	145.3	113.9
Raw material and purchased parts	316.4	292.5
Total FIFO cost	698.1	596.7
Excess of FIFO cost over LIFO inventory value	(32.2)	(32.4)
Total inventories	665.9	564.3
Domestic inventories, valued using the last-in, first-out ("LIFO") method, as a percentage of total inventory (as a percent)	25.00%	29.00%
Progress payments, which are netted against work in process	$ 5.2	$ 5.9

- Definition

Carrying amount, net of reserves and adjustments, as of the balance sheet date of merchandise or goods which are partially completed. This inventory is generally comprised of raw materials, labor and factory overhead costs, which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing.

+ References+ Details

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jul. 02, 2011
Changes in the carrying amount of goodwill
Gross goodwill, beginning of the period	$ 2,091.6
Accumulated impairment, balance at the beginning of the period	(457.0)
Goodwill, balance at the beginning of the period	1,634.6
Goodwill resulting from business combinations	21.2
Impairments	(17.2)
Gross goodwill, end of the period	2,169.1
Accumulated impairment, balance at the end of the period	(480.6)
Goodwill, balance at the end of the period	1,688.5
Gross goodwill related to foreign currency translation and other	56.3
Accumulated impairments related to foreign currency translation and other	(6.4)
Goodwill related to foreign currency translation and other	49.9
Adjustments resulting from recent acquisitions not consummated during the period	1.8
Foreign currency translation adjustments	48.1
Flow Technology
Changes in the carrying amount of goodwill
Gross goodwill, beginning of the period	702.7
Goodwill, balance at the beginning of the period	702.7
Goodwill resulting from business combinations	3.2
Gross goodwill, end of the period	737.1
Goodwill, balance at the end of the period	737.1
Gross goodwill related to foreign currency translation and other	31.2
Goodwill related to foreign currency translation and other	31.2
Test and Measurement
Changes in the carrying amount of goodwill
Gross goodwill, beginning of the period	434.5
Accumulated impairment, balance at the beginning of the period	(257.0)
Goodwill, balance at the beginning of the period	177.5
Goodwill resulting from business combinations	18.0
Gross goodwill, end of the period	462.6
Accumulated impairment, balance at the end of the period	(263.4)
Goodwill, balance at the end of the period	199.2
Gross goodwill related to foreign currency translation and other	10.1
Accumulated impairments related to foreign currency translation and other	(6.4)
Goodwill related to foreign currency translation and other	3.7
Thermal Equipment and Services
Changes in the carrying amount of goodwill
Gross goodwill, beginning of the period	602.6
Accumulated impairment, balance at the beginning of the period	(114.1)
Goodwill, balance at the beginning of the period	488.5
Impairments	(17.2)
Gross goodwill, end of the period	618.4
Accumulated impairment, balance at the end of the period	131.3
Goodwill, balance at the end of the period	487.1
Gross goodwill related to foreign currency translation and other	15.8
Goodwill related to foreign currency translation and other	15.8
Industrial Products and Services
Changes in the carrying amount of goodwill
Gross goodwill, beginning of the period	351.8
Accumulated impairment, balance at the beginning of the period	(85.9)
Goodwill, balance at the beginning of the period	265.9
Gross goodwill, end of the period	351.0
Accumulated impairment, balance at the end of the period	(85.9)
Goodwill, balance at the end of the period	265.1
Gross goodwill related to foreign currency translation and other	(0.8)
Goodwill related to foreign currency translation and other	$ (0.8)

GOODWILL AND OTHER INTANGIBLE ASSETS (Details 2) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jul. 02, 2011	Dec. 31, 2010
Intangible assets with determinable lives
Gross carrying value of finite-lived intangible assets	$ 452.3	$ 416.4
Accumulated Amortization	(125.0)	(110.0)
Net carrying value of finite-lived intangible assets	327.3	306.4
Total intangible assets
Gross Carrying Value	867.2	829.5
Net Carrying Value	742.2	719.5
Estimated annual amortization expense related to intangible assets
Estimated annual amortization expense in 2011	32.4
Estimated annual amortization expense in 2012	27.4
Estimated annual amortization expense in 2013	26.1
Estimated annual amortization expense in 2014	25.6
Estimated annual amortization expense in 2015	25.1
Thermal Equipment and Services
Intangible assets with determinable lives
Net carrying value of finite-lived intangible assets	61.3
Total intangible assets
Impairment charges	7.5
Industrial Products and Services
Intangible assets with determinable lives
Net carrying value of finite-lived intangible assets	11.8
Total intangible assets
Impairment charges	0.8
Trademarks
Intangible assets with indefinite lives
Trademarks	414.9	413.1
Patents
Intangible assets with determinable lives
Gross carrying value of finite-lived intangible assets	19.4	24.6
Accumulated Amortization	(17.2)	(21.6)
Net carrying value of finite-lived intangible assets	2.2	3.0
Technology
Intangible assets with determinable lives
Gross carrying value of finite-lived intangible assets	122.5	116.7
Accumulated Amortization	(28.9)	(23.3)
Net carrying value of finite-lived intangible assets	93.6	93.4
Customer relationships
Intangible assets with determinable lives
Gross carrying value of finite-lived intangible assets	271.4	239.7
Accumulated Amortization	(62.8)	(51.6)
Net carrying value of finite-lived intangible assets	208.6	188.1
Other
Intangible assets with determinable lives
Gross carrying value of finite-lived intangible assets	39.0	35.4
Accumulated Amortization	(16.1)	(13.5)
Net carrying value of finite-lived intangible assets	$ 22.9	$ 21.9

GOODWILL AND OTHER INTANGIBLE ASSETS (Details 3) (USD $) In Millions, unless otherwise specified	6 Months Ended			3 Months Ended		6 Months Ended			3 Months Ended	6 Months Ended		6 Months Ended			3 Months Ended	6 Months Ended
	Jul. 02, 2011	Jul. 03, 2010	Dec. 31, 2010	Jul. 02, 2011 SPX Heat Transfer Inc.	Jul. 03, 2010 Flow Technology	Jul. 03, 2010 Flow Technology	Jul. 02, 2011 Flow Technology	Dec. 31, 2010 Flow Technology	Jul. 02, 2011 Test and Measurement	Jul. 02, 2011 Test and Measurement	Dec. 31, 2010 Test and Measurement	Jul. 02, 2011 Thermal Equipment and Services	Jul. 03, 2010 Thermal Equipment and Services	Dec. 31, 2010 Thermal Equipment and Services	Jul. 02, 2011 Industrial Products and Services	Jul. 02, 2011 Industrial Products and Services	Dec. 31, 2010 Industrial Products and Services
Intangible assets with determinable lives and indefinite lives
Net carrying value of intangible assets with determinable lives	$ 327.3		$ 306.4				$ 172.6		$ 81.6	$ 81.6		$ 61.3			$ 11.8	$ 11.8
Net carrying value of trademarks with indefinite lives							214.8		54.7	54.7		131.2			14.2	14.2
Asset impairment charges	4.5	2.0		24.7	1.0	1.0			3.7	3.7			1.0		0.8	0.8
Impairments	17.2			17.2								17.2
Indefinite-lived intangible assets impairment loss				(7.5)
Goodwill	1,688.5		1,634.6	3.6			737.1	702.7	199.2	199.2	177.5	487.1		488.5	265.1	265.1	265.9
Indefinite-lived intangible assets				$ 22.6

- Definition

The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value.

+ References+ Details

- Definition

Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 142

-Paragraph 45

-Subparagraph e

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+ Details

- Definition

Loss recognized during the period that results from the write-down of goodwill after comparing the implied fair value of reporting unit goodwill with the carrying amount of that goodwill. Goodwill is assessed at least annually for impairment.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 142

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+ Details

WARRANTY (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jul. 02, 2011	Jul. 03, 2010
Analysis of product warranty accrual
Balance at beginning of period	$ 55.8	$ 56.7
Acquisitions	1.1	0.2
Provisions	11.0	12.5
Usage	(11.1)	(16.5)
Balance at end of period	56.8	52.9
Less: Current portion of warranty	46.9	41.4
Non-current portion of warranty	$ 9.9	$ 11.5

- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable for estimated claims under standard and extended warranty protection rights granted to customers.

+ References+ Details

- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable for estimated claims under standard and extended warranty protection rights granted to customers. For classified balance sheets, represents the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References+ Details

- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and due after one year (or beyond the operating cycle if longer) for estimated claims under standard and extended warranty protection rights granted to customers.

+ References+ Details

EMPLOYEE BENEFIT PLANS (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jul. 02, 2011	Jul. 03, 2010	Jul. 02, 2011	Jul. 03, 2010
Net periodic benefit expense for pension and postretirement plans
Total net periodic benefit expense	$ 9.1	$ 12.9	$ 18.3	$ 26.1
Employer contribution to pension plan			8.8
Employer contribution to pension plan related to discontinued operations			1.0
Domestic Pension Plans
Net periodic benefit expense for pension and postretirement plans
Service cost	2.4	2.3	5.0	4.7
Interest cost	14.2	15.3	28.7	30.6
Expected return on plan assets	(16.2)	(17.1)	(32.7)	(34.2)
Amortization of unrecognized losses	5.8	9.0	11.6	18.3
Amortization of unrecognized prior service credits	(0.2)	(0.2)	(0.4)	(0.4)
Total net periodic benefit expense	6.0	9.3	12.2	19.0
Net periodic benefit expense of continuing operations	6.0	9.3	12.2	19.0
Reduction in pension expenses due to change in method of amortizing unrecognized gains/losses			10.0
Foreign Pension Plans
Net periodic benefit expense for pension and postretirement plans
Service cost	0.7	0.5	1.3	1.1
Interest cost	3.6	3.4	7.2	6.9
Expected return on plan assets	(4.2)	(3.4)	(8.3)	(7.0)
Amortization of unrecognized losses	0.3	0.4	0.5	0.8
Total net periodic benefit expense	0.4	0.9	0.7	1.8
Net periodic benefit expense of continuing operations	0.4	0.9	0.7	1.8
Postretirement Plans
Net periodic benefit expense for pension and postretirement plans
Service cost	0.1		0.2	0.1
Interest cost	1.8	2.0	3.6	4.0
Amortization of unrecognized losses	1.1	1.0	2.3	1.9
Amortization of unrecognized prior service credits	(0.3)	(0.3)	(0.7)	(0.7)
Net periodic benefit expense of continuing operations	$ 2.7	$ 2.7	$ 5.4	$ 5.3

INDEBTEDNESS (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jul. 02, 2011	Dec. 31, 2010
Debt
Balance at the beginning of the period	$ 1,197.6
Borrowings	467.6
Repayments	(419.3)
Other	0.9
Balance at the end of the period	1,246.8
Short-term debt	134.8	36.3
Current maturities of long-term debt	1.3	50.8
Total long-term debt	1,110.7	1,110.5
Domestic revolving credit facility
Debt
Borrowings	375.0
Repayments	(340.0)
Balance at the end of the period	35.0
Maximum borrowing capacity under financing arrangement	300.0
6.875% senior notes
Debt
Balance at the beginning of the period		600.0
Balance at the end of the period	600.0	600.0
Interest rate percentage (as a percent)	6.875%
7.625% senior notes
Debt
Balance at the beginning of the period		500.0
Balance at the end of the period	500.0	500.0
Interest rate percentage (as a percent)	7.625%
7.50% senior notes
Debt
Balance at the beginning of the period	28.2
Repayments	(28.2)
Interest rate percentage (as a percent)	7.50%
6.25% senior notes
Debt
Balance at the beginning of the period	21.3
Repayments	(21.3)
Interest rate percentage (as a percent)	6.25%
Trade receivables financing arrangement
Debt
Borrowings	86.0
Repayments	(29.0)
Balance at the end of the period	57.0
Maximum borrowing capacity under financing arrangement	130.0
Other indebtedness
Debt
Balance at the beginning of the period	48.1
Borrowings	6.6
Repayments	(0.8)
Other	0.9
Balance at the end of the period	54.8
Purchase card program	42.8	36.1
Global revolving credit facility
Debt
Maximum borrowing capacity under financing arrangement	$ 300.0

INDEBTEDNESS (Details 2) (USD $) In Millions, unless otherwise specified	3 Months Ended	6 Months Ended															6 Months Ended		6 Months Ended			6 Months Ended						6 Months Ended						6 Months Ended								6 Months Ended
	Jul. 02, 2011	Jul. 02, 2011 Greater than or equal to 3.00 to 1.0	Jul. 02, 2011 Between 2.00 to 1.0 and 3.00 to 1.0	Jul. 02, 2011 Between 1.50 to 1.0 and 2.00 to 1.0	Jul. 02, 2011 Between 1.00 to 1.0 and 1.50 to 1.0	Jul. 02, 2011 Less than 1.00 to 1.0	Jul. 02, 2011 Alternate Base Rate Greater than or equal to 3.00 to 1.0	Jul. 02, 2011 Alternate Base Rate Between 2.00 to 1.0 and 3.00 to 1.0	Jul. 02, 2011 Alternate Base Rate Between 1.50 to 1.0 and 2.00 to 1.0	Jul. 02, 2011 Alternate Base Rate Between 1.00 to 1.0 and 1.50 to 1.0	Jul. 02, 2011 Alternate Base Rate Less than 1.00 to 1.0	Jul. 02, 2011 Reserve adjusted LIBOR rate Greater than or equal to 3.00 to 1.0	Jul. 02, 2011 Reserve adjusted LIBOR rate Between 2.00 to 1.0 and 3.00 to 1.0	Jul. 02, 2011 Reserve adjusted LIBOR rate Between 1.50 to 1.0 and 2.00 to 1.0	Jul. 02, 2011 Reserve adjusted LIBOR rate Between 1.00 to 1.0 and 1.50 to 1.0	Jul. 02, 2011 Reserve adjusted LIBOR rate Less than 1.00 to 1.0	Jul. 02, 2011 Senior credit facility	Jul. 02, 2011 Senior credit facility Federal funds alternative base rate	Jul. 02, 2011 Senior credit facility LIBOR alternative base rate	Jul. 02, 2011 Senior credit facility Reserve adjusted LIBOR rate	Jul. 02, 2011 Domestic revolving credit facility	Jul. 02, 2011 Domestic revolving credit facility Greater than or equal to 3.00 to 1.0	Jul. 02, 2011 Domestic revolving credit facility Between 2.00 to 1.0 and 3.00 to 1.0	Jul. 02, 2011 Domestic revolving credit facility Between 1.50 to 1.0 and 2.00 to 1.0	Jul. 02, 2011 Domestic revolving credit facility Between 1.00 to 1.0 and 1.50 to 1.0	Jul. 02, 2011 Domestic revolving credit facility Less than 1.00 to 1.0	Jul. 02, 2011 Global revolving credit facility	Jul. 02, 2011 Global revolving credit facility Greater than or equal to 3.00 to 1.0	Jul. 02, 2011 Global revolving credit facility Between 2.00 to 1.0 and 3.00 to 1.0	Jul. 02, 2011 Global revolving credit facility Between 1.50 to 1.0 and 2.00 to 1.0	Jul. 02, 2011 Global revolving credit facility Between 1.00 to 1.0 and 1.50 to 1.0	Jul. 02, 2011 Global revolving credit facility Less than 1.00 to 1.0	Jul. 02, 2011 Foreign credit instrument facility	Jul. 02, 2011 Foreign credit instrument facility Greater than or equal to 3.00 to 1.0	Jul. 02, 2011 Foreign credit instrument facility Between 2.00 to 1.0 and 3.00 to 1.0	Jul. 02, 2011 Foreign credit instrument facility Between 1.50 to 1.0 and 2.00 to 1.0	Jul. 02, 2011 Foreign credit instrument facility Between 1.00 to 1.0 and 1.50 to 1.0	Jul. 02, 2011 Foreign credit instrument facility Less than 1.00 to 1.0	Jul. 02, 2011 Participation foreign credit instrument facility	Jul. 02, 2011 Bilateral foreign credit instrument facility	Jul. 02, 2011 Letters of credit under separate arrangements in China and South Africa	Jul. 02, 2011 Letter of credit Greater than or equal to 3.00 to 1.0	Jul. 02, 2011 Letter of credit Between 2.00 to 1.0 and 3.00 to 1.0	Jul. 02, 2011 Letter of credit Between 1.50 to 1.0 and 2.00 to 1.0	Jul. 02, 2011 Letter of credit Between 1.00 to 1.0 and 1.50 to 1.0	Jul. 02, 2011 Letter of credit Less than 1.00 to 1.0	Jul. 02, 2011 Foreign Credit Commitment Greater than or equal to 3.00 to 1.0	Jul. 02, 2011 Foreign Credit Commitment Between 2.00 to 1.0 and 3.00 to 1.0	Jul. 02, 2011 Foreign Credit Commitment Between 1.50 to 1.0 and 2.00 to 1.0	Jul. 02, 2011 Foreign Credit Commitment Between 1.00 to 1.0 and 1.50 to 1.0	Jul. 02, 2011 Foreign Credit Commitment Less than 1.00 to 1.0
Credit Facilities
Maximum borrowing capacity under financing arrangement																	$ 1,800.0				$ 300.0						$ 300.0												$ 1,100.0	$ 100.0
Write-off of deferred financing costs																	0.4
Additional commitments SPX may seek to add																	1,000.0
Letters of credit issued, amount outstanding																					85.8												753.6								3.1
Basis spread on variable rate (as a percent)							1.00%	0.875%	0.75%	0.50%	0.25%	2.00%	1.875%	1.75%	1.50%	1.25%		0.50%	1.00%
Description of variable rate (as a percent)																			one-month LIBOR rate
Interest period which may be elected, shortest (in months)																				1M
Interest period which may be elected, second shortest (in months)																				2M
Interest period which may be elected, second longest (in months)																				3M
Interest period which may be elected, longest (in months)																				6M
Threshold amount of cash and cash equivalents above which amounts are netted against consolidated net debt for calculation of debt compliance	50.0
Consolidated leverage ratio, numerator		3.00				1.0
Consolidated leverage ratio, numerator, low end of range			2.00	1.50	1.00
Consolidated leverage ratio, denominator		1.0	1.0	1.0	1.0	1.0											1.0
Consolidated leverage ratio, numerator, high end of range			3.00	2.00	1.50
Commitment fee (as a percent)																						0.40%	0.35%	0.30%	0.275%	0.25%		0.40%	0.35%	0.30%	0.275%	0.25%		1.25%	1.125%	1.00%	0.875%	0.75%				2.00%	1.875%	1.75%	1.50%	1.25%	0.40%	0.35%	0.30%	0.275%	0.25%
Weighted-average interest rate of senior credit facilities (as a percent)																	2.00%
Fronting fees ( as a percent)																	0.125%																						0.20%
Maximum period within which net proceeds should be reinvested (in days)																	360
Security interest granted in capital stock of domestic subisidiaries or subsidiary guarntors (as a percent)																	100.00%
Security interest granted in material first tier foreign subsidiaries (as a percent)																	65.00%
Number of trailing fiscal quarters used in calculating the Consolidated Leverage Coverage Ratio under senior credit facilities' covenants (in number of quarters)																	4
Number of trailing fiscal quarters used in calculating the Consolidated Interest Coverage Ratio under senior credit facilities' covenants (in number of quarters)																	4
Prepayment reinvestment exclusion period (in days)																	360
Consolidated Interest Coverage Ratio under senior credit facilities' covenants																	at least 3.50:1.00
Consolidated Interest Coverage Ratio numerator, minimum																	3.5
Consolidated Interest Coverage Ratio denominator																	1.0
Consolidated Leverage Ratio under senior credit facilities' covenants																	no more than 3.25:1.00
Consolidated Leverage Ratio numerator, upper limit																	3.25
Consolidated Leverage Ratio under senior credit facilities' covenants after certain permitted acquisitions																	3.50 to 1.00
Consolidated Leverage Ratio after certain permitted acquisitions, numerator, upper limit																	3.5
Maximum consolidated Leverage Ratio necessary for unlimited amount of capital stock repurchases and dividend payments under senior credit facilities' covenants																	less than 2.50:1.00
Consolidated Leverage Ratio breakpoint for determining restrictions on capital stock repurchases and dividend payments under senior credit facilities' covenants, numerator																	2.5
Consolidated Leverage Ratio restricting amount of capital stock repurchases and dividend payments under senior credit facilities' covenants																	greater than or equal to 2.50:1.00
Maximum amount of capital stock repurchases and dividend declarations allowable (before adjustment) under senior credit facilities' covenants in any fiscal year if Consolidated Leverage Ratio is greater than or equal to 2.50 to 1.00																	100.0
Consolidated leverage ratio greater than 2.50 to 1.00 - capital stock repurchases and dividend declarations used in calculation																	$ 300.0
Percentage of cumulative consolidated net income during the period from July 1, 2011 to the end of the most recent fiscal quarter used (as a percent)																	50.00%
Percentage of consolidated net deficit removed from calculation of amounts available for stock repurchases and dividends																	(100.00%)

DERIVATIVE FINANCIAL INSTRUMENTS (Details) (USD $) In Millions, unless otherwise specified	Jul. 02, 2011	Dec. 31, 2010	Aug. 31, 2010 Interest Rate Swaps	Jul. 02, 2011 FX forward contracts	Dec. 31, 2010 FX forward contracts	Jul. 02, 2011 FX embedded derivatives	Dec. 31, 2010 FX embedded derivatives	Jul. 02, 2011 Commodity contracts lbm	Dec. 31, 2010 Commodity contracts lbm
Interest Rate Swaps
Fixed rate of interest on derivatives (as a percent)			4.795%
Derivative disclosures
Aggregate notional amount				$ 144.8	$ 199.5	$ 154.7	$ 200.9
Unrealized loss, net of tax, recorded in AOCI related to commodity and FX forward contracts	(3.6)	(3.3)		(3.9)	(4.1)			0.3	0.8
Unrealized loss which will be reclassified to income over the next 12 months				1.5
Notional amount of commodity contracts (in pounds of copper)								2,500,000	1,800,000
Fair value of derivative contract								$ 0.4	$ 1.0

- Definition

Accumulated change, net of tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses.

+ References+ Details

DERIVATIVE FINANCIAL INSTRUMENTS (Details 2) (USD $) In Millions, unless otherwise specified	Jul. 02, 2011	Dec. 31, 2010
Derivative contracts designated as hedging instruments \| Other current assets
Fair value of derivative financial instruments
Fair value of derivative assets	$ 0.5	$ 1.0
Derivative contracts designated as hedging instruments \| Accrued expenses
Fair value of derivative financial instruments
Fair value of derivative liability	(0.2)	(2.9)
Derivative contracts designated as hedging instruments \| FX forward contracts \| Other current assets
Fair value of derivative financial instruments
Fair value of derivative assets	0.1
Derivative contracts designated as hedging instruments \| FX forward contracts \| Accrued expenses
Fair value of derivative financial instruments
Fair value of derivative liability	(0.2)	(2.9)
Derivative contracts designated as hedging instruments \| Commodity contracts \| Other current assets
Fair value of derivative financial instruments
Fair value of derivative assets	0.4	1.0
Derivative contracts not designated as hedging instruments
Fair value of derivative financial instruments
Fair value of derivative liability	(29.1)	(36.4)
Derivative contracts not designated as hedging instruments \| Other current assets
Fair value of derivative financial instruments
Fair value of derivative assets	5.0	3.1
Derivative contracts not designated as hedging instruments \| FX forward contracts \| Other current assets
Fair value of derivative financial instruments
Fair value of derivative assets	3.9	0.5
Derivative contracts not designated as hedging instruments \| FX forward contracts \| Accrued expenses
Fair value of derivative financial instruments
Fair value of derivative liability	(0.1)	(1.4)
Derivative contracts not designated as hedging instruments \| FX embedded derivatives \| Other current assets
Fair value of derivative financial instruments
Fair value of derivative assets	1.1	2.6
Derivative contracts not designated as hedging instruments \| FX embedded derivatives \| Accrued expenses
Fair value of derivative financial instruments
Fair value of derivative liability	(5.0)	(1.8)
Derivative contracts not designated as hedging instruments \| FX embedded derivatives \| Other long-term liabilities
Fair value of derivative financial instruments
Fair value of derivative liability	$ (24.0)	$ (33.2)

- Definition

Fair values as of the balance sheet date of all assets resulting from contracts that meet the criteria of being accounted for as derivative instruments, net of the effects of master netting arrangements.

+ References+ Details

- Definition

Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, net of the effects of master netting arrangements.

+ References+ Details

DERIVATIVE FINANCIAL INSTRUMENTS (Details 3) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jul. 02, 2011	Jul. 03, 2010	Jul. 02, 2011	Jul. 03, 2010
Cash flow hedge
Derivative instrument disclosures
Amount of gain (loss) recognized in AOCI, pre-tax	$ 0.7	$ (3.5)		$ (7.8)
Amount of gain (loss) reclassified from AOCI to income, pre-tax	0.5	(4.5)	0.3	(9.6)
Derivative losses recognized in other income (expense), net relating to derivative ineffectiveness and amounts excluded from effectiveness testing	0.1		0.2
Derivative gains recognized in other income (expense), net relating to derivative ineffectiveness and amounts excluded from effectiveness testing		0.8		0.9
Cash flow hedge \| Interest Rate Swaps \| Interest expense.
Derivative instrument disclosures
Amount of gain (loss) recognized in AOCI, pre-tax		(2.0)		(6.2)
Amount of gain (loss) reclassified from AOCI to income, pre-tax		(5.2)		(10.8)
Cash flow hedge \| FX forward contracts \| Cost of products sold
Derivative instrument disclosures
Amount of gain (loss) recognized in AOCI, pre-tax	0.5	(1.2)		(3.3)
Amount of gain (loss) reclassified from AOCI to income, pre-tax	0.1		(0.5)
Cash flow hedge \| FX embedded derivatives \| Cost of products sold
Derivative instrument disclosures
Amount of gain (loss) recognized in AOCI, pre-tax		0.8		2.6
Amount of gain (loss) reclassified from AOCI to income, pre-tax		0.4		0.6
Cash flow hedge \| Commodity contracts \| Cost of products sold
Derivative instrument disclosures
Amount of gain (loss) recognized in AOCI, pre-tax	0.2	(1.1)		(0.9)
Amount of gain (loss) reclassified from AOCI to income, pre-tax	0.4	0.3	0.8	0.6
Derivative contracts not designated as hedging instruments
Derivative instrument disclosures
Amount of gain (loss) recognized in income	(1.8)	(7.6)	(0.8)	(20.0)
Derivative contracts not designated as hedging instruments \| FX forward contracts \| Other income (expense), net
Derivative instrument disclosures
Amount of gain (loss) recognized in income	0.9	2.8	1.6	2.5
Derivative contracts not designated as hedging instruments \| FX embedded derivatives \| Other income (expense), net
Derivative instrument disclosures
Amount of gain (loss) recognized in income	(2.7)	(10.4)	(2.4)	(22.5)
Gain (loss) on discontinuation of foreign currency cash flow hedge due to an occurrence of the forecasted transaction no longer being probable.				$ (4.6)

- Definition

The effective portion of net gain (loss) reclassified from accumulated other comprehensive income into income on derivative instruments designated and qualifying as hedging instruments.

+ References+ Details

- Definition

The amount of net gains and losses recognized in income during the period on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges, on derivative instruments designated and qualifying as hedging instruments in cash flow hedges, and on derivative instruments not designated as hedging instruments.

+ References+ Details

- Definition

The effective portion of gains and losses (net) on derivative instruments designated and qualifying as hedging instruments that was recognized in other comprehensive income during the current period.

+ References+ Details

- Definition

The portion of gains on derivative instruments designated and qualifying as hedging instruments representing (a) the amount of the hedge ineffectiveness and (b) the amount, if any, excluded from the assessment of hedge effectiveness.

+ References+ Details

- Definition

The portion of losses on derivative instruments designated and qualifying as hedging instruments representing (a) the amount of the hedge ineffectiveness and (b) the amount, if any, excluded from the assessment of hedge effectiveness.

+ References+ Details

EQUITY AND STOCK-BASED COMPENSATION (Details) (USD $) In Millions, except Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jul. 02, 2011	Jul. 03, 2010	Jul. 02, 2011	Jul. 03, 2010
Earnings Per Share
Weighted-average shares outstanding used in basic income per share	50,554,000	49,657,000	50,410,000	49,594,000
Dilutive securities-employee stock options, restricted stock and restricted stock units	811,000	637,000	748,000	515,000
Weighted-average number of common and dilutive securities used for calculating diluted income per share	51,365,000	50,294,000	51,158,000	50,109,000
Stock-based Compensation
Classification of excess tax benefits from stock-based compensation as financing cash flows			$ 6.4	$ 2.9
Portion of the grant that will vest if the Company outperforms the S&P composite index for the prior year (in years)			one-third
Vesting period (in years)			three-year
Maximum period over which the fair value of restricted stock and restricted stock units are amortized (in years)			three years
Comepensation expense			$ 26.7	$ 20.1
Stock options
Equity and stock-based compensation
The number of options or units that were excluded from the computation of diluted income per share	39,000	428,000	75,000	436,000
Unvested restricted stock units
Equity and stock-based compensation
The number of options or units that were excluded from the computation of diluted income per share		102,000		103,000
2002 Stock Compensation Plan
Stock-based Compensation
Shares available for grant	4,680,000		4,680,000
2006 Non-Employee Directors' Stock Incentive Plan ("Directors' Plan")
Stock-based Compensation
Shares available for grant	30,000		30,000
Stock Options granted to key employees
Stock-based Compensation
Vesting period (in years)			three-year
Maximum expiration period of stock options from date of grant (in years)			10
Restricted stock and restricted stock units
Stock-based Compensation
Reduction of shares available for grant (in shares)	2.5		2.5

EQUITY AND STOCK-BASED COMPENSATION (Details 2) (USD $)	1 Months Ended		6 Months Ended
EQUITY AND STOCK-BASED COMPENSATION (Details 2) (USD $)	Mar. 31, 2011	Mar. 31, 2010	Jul. 02, 2011
Assumptions in determining the fair value of the awards granted
Annual expected stock price volatility (as a percent)	61.00%	62.00%
Annual expected dividend yield (as a percent)	1.27%	1.64%
Risk free interest rate (as a percent)	1.03%	1.20%
Correlation between total shareholder return for SPX and S&P 500 Composite Index	$ 0.7559	$ 0.7250
Historical period upon which annual expected stock price volatility is based (in years)			three-year
Minimum daily treasury yield curve period upon which average risk-free interest rate is based (in years)			one-year
Maximum daily treasury yield curve period upon which average risk-free interest rate is based (in years)			three-year
S&P 500 Composite Index
Assumptions in determining the fair value of the awards granted
Annual expected stock price volatility (as a percent)	30.30%	30.80%
Risk free interest rate (as a percent)	1.03%	1.20%

- Definition

The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.

+ References+ Details

EQUITY AND STOCK-BASED COMPENSATION (Details 3) (USD $) In Millions, except Share data in Thousands, unless otherwise specified	6 Months Ended
	Jul. 02, 2011	Jul. 03, 2010
Restricted stock and restricted stock units
Unvested Restricted Stock and Restricted Stock Units
Outstanding at the beginning of the period	1,516
Granted	803
Vested	(634)
Forfeited	(235)
Outstanding at the end of the period	1,450
Weighted-Average Grant-Date Fair Value
Outstanding at the beginning of the period	$ 50.97
Granted	$ 63.09
Vested	$ 51.47
Forfeited	$ 69.60
Outstanding at the end of the period	$ 54.34
Unrecognized compensation cost
Unrecognized compensation cost related to restricted stock and restricted stock unit	$ 35.0
Weighted-average period over which unrecognized compensation costs will be recognized (in years)	1.6
Stock options
Stock option activity, Shares
Options outstanding and exercisable at the beginning of the period	635
Exercised	(140)
Forfeited	(113)
Options outstanding and exercisable at the end of the period	382
Weighted-Average Exercise Price
Options outstanding and exercisable at the beginning of the period	$ 63.82
Exercised	$ 65.52
Forfeited	$ 90.93
Options outstanding and exercisable at the end of the period	$ 55.21
Stock option outstanding and exercisable
Weighted average remaining term of stock options outstanding and exercisable at the end of the period (in years)	1.0
Number of in-the-money options exercisable (in shares)	379
Aggregate intrinsic value of options outstanding and exercisable (in dollars)	10.6
Aggregate intrinsic value of options exercised	$ 2.2	$ 0.8

EQUITY AND STOCK-BASED COMPENSATION (Details 4) (USD $) In Millions, unless otherwise specified	Jul. 02, 2011	Dec. 31, 2010
Accumulated Other Comprehensive Loss
Foreign currency translation adjustment	$ 345.1	$ 223.2
Net unrealized losses on qualifying cash flow hedges, net of tax	(3.6)	(3.3)
Net unrealized losses on qualifying cash flow hedges, tax	2.2	2.2
Net unrealized gains on available-for-sale securities	0.9	6.1
Pension liability adjustment, net of tax	(411.6)	(418.6)
Pension liability adjustment, tax	262.0	266.6
Accumulated other comprehensive loss	(69.2)	(192.6)
Electrical Group, LLC and Subsidiaries ("EGS")
Accumulated other comprehensive loss
Pension liability adjustment related to joint venture	$ 3.1	$ 3.2

EQUITY AND STOCK-BASED COMPENSATION (Details 5) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended				6 Months Ended
	Jul. 02, 2011	Apr. 02, 2011	Jul. 03, 2010	Apr. 03, 2010	Jul. 02, 2011	Jul. 03, 2010
Common Stock in Treasury
Treasury stock decreased by the settlement of restricted stock units					$ 12.7	$ 12.1
Increase in treasury stock for common stock surrendered by recipients of restricted stock as a means of funding minimum income tax withholding					7.0	5.1
Dividends
Dividends declared, per share (in dollars per share)	$ 0.25	$ 0.25	$ 0.25	$ 0.25
Changes in Equity
Equity, beginning of period	2,222.9	2,104.0	1,857.0	1,881.5	2,104.0	1,881.5
Net income (loss)	35.0		78.0		59.8	99.3
Net unrealized gains (losses) on qualifying cash flow hedges net of tax provision	0.1		0.7		(0.3)	4.3
Net unrealized gains (losses) on qualifying cash flow hedges, tax provision	0.1		0.3			2.1
Net unrealized loss on available-for-sale securities	(2.8)				(5.2)
Pension liability adjustment, net of tax (provision) benefit	4.6		6.4		7.0	23.1
Pension liability adjustment, tax benefit (provision)	2.6		3.8		(4.6)	1.6
Foreign currency translation adjustments	32.6		(97.9)		122.5	(158.9)
Total comprehensive income (loss)	69.5		(12.8)		183.8	(32.2)
Dividends declared	(12.8)	(12.7)	(12.4)	(12.5)	(25.5)	(24.9)
Exercise of stock options and other incentive plan activity, including tax benefit	7.1		6.1		24.3	13.2
Exercise of stock options and other incentive plan activity, tax benefit	0.1		0.2		5.7	1.8
Amortization of restricted stock and restricted stock unit grants	7.0		8.2		26.7	20.1
Restricted stock and restricted stock unit vesting, net of tax withholdings			(0.4)		(16.6)	(12.2)
Dividends attributable to noncontrolling interests			(0.3)		(4.1)	(0.3)
Other changes in noncontrolling interests			(0.1)		1.1	0.1
Equity, end of period	2,293.7	2,222.9	1,845.3	1,857.0	2,293.7	1,845.3
SPX Corporation Shareholders' Equity
Changes in Equity
Equity, beginning of period	2,217.5	2,097.7	1,846.7	1,870.8	2,097.7	1,870.8
Net income (loss)	34.3		78.8		57.4	100.9
Net unrealized gains (losses) on qualifying cash flow hedges net of tax provision	0.1		0.7		(0.3)	4.3
Net unrealized loss on available-for-sale securities	(2.8)				(5.2)
Pension liability adjustment, net of tax (provision) benefit	4.6		6.4		7.0	23.1
Foreign currency translation adjustments	32.4		(97.5)		121.9	(158.7)
Total comprehensive income (loss)	68.6		(11.6)		180.8	(30.4)
Dividends declared	(12.8)		(12.4)		(25.5)	(24.9)
Exercise of stock options and other incentive plan activity, including tax benefit	7.1		6.1		24.3	13.2
Amortization of restricted stock and restricted stock unit grants	7.0		8.2		26.7	20.1
Restricted stock and restricted stock unit vesting, net of tax withholdings			(0.4)		(16.6)	(12.2)
Equity, end of period	2,287.4		1,836.6		2,287.4	1,836.6
Noncontrolling Interests
Changes in Equity
Equity, beginning of period	5.4	6.3	10.3	10.7	6.3	10.7
Net income (loss)	0.7		(0.8)		2.4	(1.6)
Foreign currency translation adjustments	0.2		(0.4)		0.6	(0.2)
Total comprehensive income (loss)	0.9		(1.2)		3.0	(1.8)
Dividends attributable to noncontrolling interests			(0.3)		(4.1)	(0.3)
Other changes in noncontrolling interests			(0.1)		1.1	0.1
Equity, end of period	$ 6.3		$ 8.7		$ 6.3	$ 8.7

CONTINGENCIES AND OTHER MATTERS (Details) (USD $) In Millions, unless otherwise specified	Jul. 02, 2011	Dec. 31, 2010
Contingencies and other matters
Carrying values of accruals	$ 430.8	$ 436.2
Accruals included in other long-term liabilities	361.2	368.0
Risk management matters
Contingencies and other matters
Carrying values of accruals	365.6	366.1
Insurance recovery assets	$ 319.0	$ 320.0

CONTINGENCIES AND OTHER MATTERS (Details 2) (Site investigation and remediation)	Jul. 02, 2011
Site investigation and remediation
Environmental Matters
Number of sites	90
Number of third-party disposal sites for which entity is potentially responsible	26
Number of active sites	10

CONTINGENCIES AND OTHER MATTERS (Details 3) (Consortium arrangements, Thermal Equipment and Services, USD $) In Millions, unless otherwise specified	6 Months Ended	12 Months Ended
	Jul. 02, 2011	Dec. 31, 2010
Consortium arrangements \| Thermal Equipment and Services
Collaborative Arrangements
Entity's share of the aggregate contract value on open consortium arrangements	$ 419.6	$ 381.4
Percentage of entity's share of the aggregate contract value, recognized as revenue (as a percent)	51.80%	45.10%
Aggregate contract value on open consortium arrangements	1,036.3	948.7
Estimated fair value of our potential obligation recorded as a liabilities	$ 3.4	$ 3.2

INCOME TAXES (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jul. 02, 2011
Unrecognized Tax Benefits
Gross unrecognized tax benefits	$ 92.1
Net unrecognized tax benefits	73.9
Portion of unrecognized benefits which, if recognized, would impact future effective tax rates	71.8
Gross accrued interest	14.5
Net accrued interest	10.8
Reasonably possible amount that unrecognized tax benefits could decrease within next twelve months, low end of range	20.0
Reasonably possible amount that unrecognized tax benefits could decrease within next twelve months, high end of range	30.0
Uncertain Tax Positions
Income tax benefit resulting from settlement with taxing authority recorded in continuing operations	22.0
Income tax benefit resulting from settlement with taxing authority recorded in discontinued operations	7.3
Period within which the audit of federal income tax returns is not expected to be concluded (in months)	12
Period within which federal income tax returns related matters are expected to be resolved (in months)	12
State income tax returns subject to examination for a period, minimum (in years)	3
State income tax returns subject to examination for a period, high end of range (in years)	5
Maximum period for which impact on state income tax returns of any federal changes remains subject to examination by various states (in years)	1
Recognized tax benefit upon the effective settlement of the various issues	$ 2.5
Minimum number of matters whose unfavorable resolution could have material adverse effect on the results of operations or cash flows	1

FAIR VALUE (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended		3 Months Ended		6 Months Ended	3 Months Ended	6 Months Ended
	Jul. 02, 2011	Jul. 03, 2010	Jul. 02, 2011 SPX Heat Transfer Inc.	Jul. 02, 2011 Test and Measurement	Jul. 02, 2011 Test and Measurement	Jul. 02, 2011 Industrial Products and Services	Jul. 02, 2011 Industrial Products and Services	Jul. 02, 2011 Fair Value Measurements Using Level 1 Noncurrent assets - Investment in equity securities and available-for-sale securities	Dec. 31, 2010 Fair Value Measurements Using Level 1 Noncurrent assets - Investment in equity securities and available-for-sale securities	Jul. 02, 2011 Fair Value Measurements Using Level 2 Current assets - FX embedded derivatives, FX forward contracts and commodity contracts	Dec. 31, 2010 Fair Value Measurements Using Level 2 Current assets - FX embedded derivatives, FX forward contracts and commodity contracts	Jul. 02, 2011 Fair Value Measurements Using Level 2 Current liabilities - FX forward contracts and FX embedded derivatives	Dec. 31, 2010 Fair Value Measurements Using Level 2 Current liabilities - FX forward contracts and FX embedded derivatives	Jul. 02, 2011 Fair Value Measurements Using Level 2 Long-term liabilities - FX embedded derivatives	Dec. 31, 2010 Fair Value Measurements Using Level 2 Long-term liabilities - FX embedded derivatives	Jul. 02, 2011 Fair Value Measurements Using Level 3 Noncurrent assets - Investment in equity securities and available-for-sale securities	Dec. 31, 2010 Fair Value Measurements Using Level 3 Noncurrent assets - Investment in equity securities and available-for-sale securities
Assets and liabilities measured at fair value on a recurring basis
Certain investments in equity securities that are not readily marketable, fair value																$ 7.8	$ 8.5
Fair value of derivative liability												5.3	6.1	24.0	33.2
Goodwill, Impairment Loss	17.2		17.2
Indefinite-lived Intangible Assets, Impairment Loss			(7.5)
Fair value of derivative assets								7.6	12.8	5.5	4.1
Reconciliation of investment in equity securities measured at fair value using significant observable inputs
Balance at beginning of year	8.5
Losses included in earnings	(0.7)
Balance at end of year	7.8
Fair value of assets and liabilities
Special charges relating to asset impairments	4.5	2.0	24.7	3.7	3.7	0.8	0.8
Impairment charges of trademark							0.8
Impairment charges of idle facility and certain machinery and equipment		2.0
Fair value of asset acquired	16.2
Fair value of trademark	1.2
Fair value of idle facility assets		2.5
Fair value of machinery and equipment		0.4
Fair value of our debt instruments	1,337.1
Carrying value of our debt instruments	$ 1,246.8

Document and Entity Information	6 Months Ended
Document and Entity Information	Jul. 02, 2011	Jul. 29, 2011
Document and Entity Information
Entity Registrant Name	SPX CORP
Entity Central Index Key	0000088205
Document Type	10-Q
Document Period End Date	Jul. 02, 2011
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		51,106,295
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q2