Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Dec. 31, 2014	Feb. 13, 2015	Jun. 27, 2014
Document and Entity Information
Entity Registrant Name	SPX CORP
Entity Central Index Key	0000088205
Document Type	10-K
Document Period End Date	Dec. 31, 2014
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 4,461,088,249
Entity Common Stock, Shares Outstanding		40,983,795
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

Consolidated Statements of Operations (USD $) In Millions, except Share data in Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
CONSOLIDATED STATEMENTS OF OPERATIONS
Revenues	$ 4,721.1	$ 4,773.3	$ 4,894.6
Costs and expenses:
Cost of products sold	3,357.5	3,392.3	3,554.2
Selling, general and administrative	1,068.7	963.9	1,120.9
Intangible amortization	31.8	33.0	34.1
Impairment of goodwill and other long-term assets	38.1	6.7	285.9
Special charges, net	23.1	32.3	23.4
Operating income (loss)	201.9	345.1	(123.9)
Other income (expense), net	484.6	(11.3)	14.0
Interest expense	(69.8)	(112.6)	(114.4)
Interest income	8.6	8.2	6.3
Loss on early extinguishment of debt	(32.5)
Equity earnings in joint ventures	1.4	42.2	38.6
Income (loss) from continuing operations before income taxes	594.2	271.6	(179.4)
Income tax (provision) benefit	(214.1)	(60.3)	14.2
Income (loss) from continuing operations	380.1	211.3	(165.2)
Income (loss) from discontinued operations, net of tax	(5.0)	5.3	35.0
Gain (loss) on disposition of discontinued operations, net of tax	13.3	(4.0)	313.4
Income from discontinued operations, net of tax	8.3	1.3	348.4
Net income	388.4	212.6	183.2
Less: Net income (loss) attributable to noncontrolling interests	(9.5)	2.4	2.8
Net income attributable to SPX Corporation common shareholders	397.9	210.2	180.4
Amounts attributable to SPX Corporation common shareholders:
Income (loss) from continuing operations, net of tax	389.6	209.1	(168.2)
Income from discontinued operations, net of tax	8.3	1.1	348.6
Net income	$ 397.9	$ 210.2	$ 180.4
Basic income (loss) per share of common stock:
Income (loss) from continuing operations attributable to SPX Corporation common shareholders (in dollars per share)	$ 9.19	$ 4.61	$ (3.36)
Income from discontinued operations attributable to SPX Corporation common shareholders (in dollars per share)	$ 0.19	$ 0.02	$ 6.97
Net income per share attributable to SPX Corporation common shareholders (in dollars per share)	$ 9.38	$ 4.63	$ 3.61
Weighted-average number of common shares outstanding - basic (in shares)	42,400	45,384	50,031
Diluted income (loss) per share of common stock:
Income (loss) from continuing operations attributable to SPX Corporation common shareholders (in dollars per share)	$ 9.05	$ 4.55	$ (3.36)
Income from discontinued operations attributable to SPX Corporation common shareholders (in dollars per share)	$ 0.20	$ 0.02	$ 6.97
Net income per share attributable to SPX Corporation common shareholders (in dollars per share)	$ 9.25	$ 4.57	$ 3.61
Weighted-average number of common shares outstanding - diluted (in shares)	43,031	46,006	50,031

Consolidated Statements of Comprehensive Income (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Consolidated Statements of Comprehensive Income
Net income	$ 388.4	$ 212.6	$ 183.2
Other comprehensive income (loss), net:
Pension liability adjustment, net of tax (provision) benefit of $(5.2), $1.0 and $0.8 in 2014, 2013 and 2012, respectively	9.7	(2.2)	(1.0)
Net unrealized gains (losses) on qualifying cash flow hedges, net of tax (provision) benefit of $0.1, $(1.2) and $(0.4) in 2014, 2013 and 2012, respectively	(0.5)	2.5	1.1
Net unrealized gains (losses) on available-for-sale securities	3.7	(0.6)	(1.6)
Foreign currency translation adjustments	(237.8)	2.4	97.1
Other comprehensive income (loss), net	(224.9)	2.1	95.6
Total comprehensive income	163.5	214.7	278.8
Less: Total comprehensive income (loss) attributable to noncontrolling interests	(9.5)	1.8	3.4
Total comprehensive income attributable to SPX Corporation common shareholders	$ 173.0	$ 212.9	$ 275.4

Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Consolidated Statements of Comprehensive Income
Pension liability adjustment, tax (provision) benefit	$ (5.2)	$ 1.0	$ 0.8
Net unrealized gains (losses) on qualifying cash flow hedges, tax benefit (provision)	$ 0.1	$ (1.2)	$ (0.4)

Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Current assets:
Cash and equivalents	$ 427.6	$ 691.8
Accounts receivable, net	1,067.4	1,210.4
Inventories, net	497.8	505.9
Other current assets	98.5	104.4
Deferred income taxes	123.8	119.6
Assets of discontinued operations		100.9
Total current assets	2,215.1	2,733.0
Property, plant and equipment:
Land	56.4	46.4
Buildings and leasehold improvements	361.8	387.9
Machinery and equipment	825.9	796.0
Property, plant and equipment, gross	1,244.1	1,230.3
Accumulated depreciation	(573.2)	(533.8)
Property, plant and equipment, net	670.9	696.5
Goodwill	1,455.4	1,549.1
Intangibles, net	831.0	928.3
Other assets	729.8	949.3
TOTAL ASSETS	5,902.2	6,856.2
Current liabilities:
Accounts payable	462.0	497.5
Accrued expenses	892.3	990.8
Income taxes payable	43.7	73.1
Short-term debt	181.1	26.9
Current maturities of long-term debt	30.8	558.7
Liabilities of discontinued operations		27.4
Total current liabilities	1,609.9	2,174.4
Long-term debt	1,157.8	1,090.0
Deferred and other income taxes	294.9	427.2
Other long-term liabilities	1,018.5	992.6
Total long-term liabilities	2,471.2	2,509.8
Commitments and contingent liabilities (Note 14)
SPX Corporation shareholders' equity:
Common stock (100,063,887 and 40,858,006 issued and outstanding at December 31, 2014, respectively, and 99,801,498 and 45,281,329 issued and outstanding at December 31, 2013, respectively)	1,008.2	1,004.5
Paid-in capital	1,600.8	1,571.5
Retained earnings	2,637.8	2,303.1
Accumulated other comprehensive income	62.6	287.5
Common stock in treasury (59,205,881 and 54,520,169 shares at December 31, 2014 and 2013, respectively)	(3,491.5)	(3,008.6)
Total SPX Corporation shareholders' equity	1,817.9	2,158.0
Noncontrolling interests	3.2	14.0
Total equity	1,821.1	2,172.0
TOTAL LIABILITIES AND EQUITY	$ 5,902.2	$ 6,856.2

Consolidated Balance Sheets (Parenthetical)	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED BALANCE SHEETS
Common stock, shares issued	100,063,887	99,801,498
Common stock, shares outstanding	40,858,006	45,281,329
Common stock in treasury, shares	59,205,881	54,520,169

Consolidated Statements of Equity (USD $) In Millions, unless otherwise specified	SPX Corporation Shareholders' Equity	Common Stock	Paid-In Capital	Retained Earnings	Accum. Other Comprehensive Income	Common Stock In Treasury	Noncontrolling Interests	Total
Balance at Dec. 31, 2011	$ 2,184.2	$ 993.6	$ 1,502.2	$ 2,008.9	$ 189.8	$ (2,510.3)	$ 10.0	$ 2,194.2
Increase (Decrease) in Stockholders' Equity
Net income (loss)	180.4			180.4			2.8	183.2
Other comprehensive income (loss), net	95.0				95.0		0.6	95.6
Dividends declared ($1.50, $1.00, and $1.00 for the years 2014, 2013, and 2012)	(50.9)			(50.9)				(50.9)
Exercise of stock options and other incentive plan activity	25.0	4.4	20.6					25.0
Stock based compensation expense, including $0.6, and $1.5 related to discontinued operations for the years ended 2013 and 2012, respectively	40.4		40.4					40.4
Restricted stock and restricted stock unit vesting, including related tax benefit of $6.7,$1.7 and $0.5 for 2014, 2013, and 2012, respectively, net of tax withholdings	(4.3)	0.9	(9.5)			4.3		(4.3)
Common stock repurchases	(245.6)					(245.6)		(245.6)
Dividends attributable to noncontrolling interests							(0.7)	(0.7)
Other changes in noncontrolling interests							(1.4)	(1.4)
Balance at Dec. 31, 2012	2,224.2	998.9	1,553.7	2,138.4	284.8	(2,751.6)	11.3	2,235.5
Increase (Decrease) in Stockholders' Equity
Net income (loss)	210.2			210.2			2.4	212.6
Other comprehensive income (loss), net	2.7				2.7		(0.6)	2.1
Dividends declared ($1.50, $1.00, and $1.00 for the years 2014, 2013, and 2012)	(45.5)			(45.5)				(45.5)
Exercise of stock options and other incentive plan activity	16.9	2.2	14.7					16.9
Stock based compensation expense, including $0.6, and $1.5 related to discontinued operations for the years ended 2013 and 2012, respectively	33.5		33.5					33.5
Restricted stock and restricted stock unit vesting, including related tax benefit of $6.7,$1.7 and $0.5 for 2014, 2013, and 2012, respectively, net of tax withholdings	(20.8)	3.4	(27.4)			3.2		(20.8)
Common stock repurchases	(260.2)					(260.2)		(260.2)
Other changes in noncontrolling interests	(3.0)		(3.0)				0.9	(2.1)
Balance at Dec. 31, 2013	2,158.0	1,004.5	1,571.5	2,303.1	287.5	(3,008.6)	14.0	2,172.0
Increase (Decrease) in Stockholders' Equity
Net income (loss)	397.9			397.9			(9.5)	388.4
Other comprehensive income (loss), net	(224.9)				(224.9)			(224.9)
Dividends declared ($1.50, $1.00, and $1.00 for the years 2014, 2013, and 2012)	(63.2)			(63.2)				(63.2)
Exercise of stock options and other incentive plan activity	16.4	1.6	14.8					16.4
Stock based compensation expense, including $0.6, and $1.5 related to discontinued operations for the years ended 2013 and 2012, respectively	38.4		38.4					38.4
Restricted stock and restricted stock unit vesting, including related tax benefit of $6.7,$1.7 and $0.5 for 2014, 2013, and 2012, respectively, net of tax withholdings	(15.9)	2.1	(23.9)			5.9		(15.9)
Common stock repurchases	(488.8)					(488.8)		(488.8)
Dividends attributable to noncontrolling interests							(0.5)	(0.5)
Other changes in noncontrolling interests							(0.8)	(0.8)
Balance at Dec. 31, 2014	$ 1,817.9	$ 1,008.2	$ 1,600.8	$ 2,637.8	$ 62.6	$ (3,491.5)	$ 3.2	$ 1,821.1

Consolidated Statements of Equity (Parenthetical) (USD $) In Millions, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Consolidated Statements of Equity
Dividends declared per share (in dollars per share)	$ 1.50	$ 1.00	$ 1.00
Stock-based compensation expense, discontinued operations		$ 0.6	$ 1.5
Restricted stock and restricted stock unit vesting, related tax benefit	$ 6.7	$ 1.7	$ 0.5

Consolidated Statements of Cash Flows (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net income	$ 388.4	$ 212.6	$ 183.2
Less: Income from discontinued operations, net of tax	8.3	1.3	348.4
Income (loss) from continuing operations	380.1	211.3	(165.2)
Adjustments to reconcile income (loss) from continuing operations to net cash from operating activities
Special charges, net	23.1	32.3	23.4
Gain on asset sales	(491.1)		(20.5)
Impairment of goodwill and other long-term assets	38.1	6.7	285.9
Loss on early extinguishment of debt	32.5
Deferred and other income taxes	(81.7)	95.8	(36.5)
Depreciation and amortization	109.2	115.1	107.8
Pension and other employee benefits	131.8	(0.1)	176.6
Stock-based compensation	38.4	32.9	38.9
Other, net	1.8	10.4	8.3
Changes in operating assets and liabilities, net of effects from acquisition and divestitures
Accounts receivable and other assets	61.7	58.3	(213.9)
Inventories	(17.1)	9.6	58.3
Accounts payable, accrued expenses and other	(119.6)	(181.9)	(176.0)
Discretionary pension contribution		(250.0)
Cash spending on restructuring actions	(25.5)	(28.8)	(19.1)
Net cash from continuing operations	81.7	111.6	68.0
Net cash from (used in) discontinued operations	(5.3)	(6.3)	1.8
Net cash from operating activities	76.4	105.3	69.8
Cash flows from (used in) investing activities:
Proceeds from asset sales and other, net	581.4	9.8	18.9
(Increase) decrease in restricted cash	(0.5)		1.9
Business acquisition and other investments, net of cash acquired		(2.9)	(34.3)
Capital expenditures	(61.1)	(55.1)	(81.8)
Net cash from (used in) continuing operations	519.8	(48.2)	(95.3)
Net cash from discontinued operations (includes net cash proceeds from dispositions of $108.6, $13.5 and $1,133.4 in 2014, 2013 and 2012, respectively)	107.6	1.5	1,126.0
Net cash from (used in) investing activities	627.4	(46.7)	1,030.7
Cash flows used in financing activities:
Repurchase of senior notes (includes premiums paid of $30.6)	(530.6)
Borrowings under senior credit facilities	572.0	287.0	1,065.0
Repayments under senior credit facilities	(339.0)	(287.0)	(1,421.9)
Borrowings under trade receivables agreement	91.0	35.0	127.3
Repayments under trade receivables agreement	(81.0)	(35.0)	(127.3)
Net repayments under other financing arrangements	(52.0)	(20.8)	(8.6)
Purchases of common stock	(488.8)	(260.2)	(245.6)
Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options and other	(12.9)	(16.2)	5.3
Financing fees paid	(0.4)	(5.4)	(0.2)
Change in noncontrolling interest in subsidiary	(0.8)	1.9
Dividends paid (includes noncontrolling interest distributions of $0.5 and $0.7 in 2014 and 2012, respectively)	(60.3)	(34.7)	(63.6)
Net cash used in continuing operations	(902.8)	(335.4)	(669.6)
Net cash used in financing activities	(902.8)	(335.4)	(669.6)
Change in cash and equivalents due to changes in foreign currency exchange rates	(65.2)	(15.5)	2.2
Net change in cash and equivalents	(264.2)	(292.3)	433.1
Consolidated cash and equivalents, beginning of period	691.8	984.1	551.0
Consolidated cash and equivalents, end of period	427.6	691.8	984.1
Cash and equivalents of continuing operations	427.6	691.8	984.1
Supplemental disclosure of cash flow information:
Interest paid	65.9	102.6	102.0
Income taxes paid, net of refunds of $10.0, $9.4 and $10.3 in 2014, 2013 and 2012, respectively	314.8	50.3	59.3
Non-cash investing and financing activity:
Debt assumed	$ 0.2	$ 5.0	$ 61.5

Consolidated Statements of Cash Flows (Parenthetical) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
CONSOLIDATED STATEMENTS OF CASH FLOWS
Cash consideration, exclusive of cash transferred	$ 108.6	$ 13.5	$ 1,133.4
Repurchase of senior notes, premiums paid	30.6
Dividends paid, noncontrolling interest distributions	0.5		0.7
Income tax refunds	$ 10.0	$ 9.4	$ 10.3

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

(1) Summary of Significant Accounting Policies

Our significant accounting policies are described below, as well as in other Notes that follow.

Basis of Presentation — The consolidated financial statements include SPX Corporation's ("SPX", "our" or "we") accounts prepared in conformity with accounting principles generally accepted in the United States ("GAAP") 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 which party has the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. We have interests in VIEs, primarily joint ventures, in which we are the primary beneficiary and others in which we are not. Our VIEs are considered immaterial, individually and in aggregate, to our consolidated financial statements.

We have reclassified certain prior period amounts, including the results of discontinued operations, to conform to the current period presentation. Unless otherwise indicated, amounts provided in these Notes pertain to continuing operations only (see Note 4 for information on discontinued operations).

Foreign Currency Translation and Transactions — The financial statements of our foreign subsidiaries are translated into U.S. dollars in accordance with the Foreign Currency Matters Topic of the Financial Accounting Standards Board Codification ("Codification" or "ASC"). Balance sheet accounts are translated at the current rate at the end of each period and income statement accounts are translated at the average rate for each period. Gains and losses on foreign currency translations are reflected as a separate component of shareholders' equity and other comprehensive income. Foreign currency transaction gains and losses, as well as gains and losses related to foreign currency forward contracts and currency forward embedded derivatives, are included in "Other income (expense), net," with the related net losses totaling $7.1, $15.6 and $12.4 in 2014, 2013 and 2012, respectively.

Cash Equivalents — We consider highly liquid money market investments with original maturities of three months or less at the date of purchase to be cash equivalents.

Revenue Recognition — We recognize revenues from product sales upon shipment to the customer (e.g., FOB shipping point) or upon receipt by the customer (e.g., FOB destination), in accordance with the agreed upon customer terms. Revenues from service contracts and long-term maintenance arrangements are recognized on a straight-line basis over the agreement period. Sales with FOB destination terms are primarily to power transformer industry customers. Sales to distributors with return rights are recognized upon shipment to the distributor with expected returns estimated and accrued at the time of sale. The accrual considers restocking charges for returns and in some cases the distributor must issue a replacement order before the return is authorized. Actual return experience may vary from our estimates. We recognize revenues separately for arrangements with multiple deliverables that meet the criteria for separate units of accounting as defined by the Revenue Recognition Topic of the Codification. The deliverables under these arrangements typically include hardware and software components, installation, maintenance, extended warranties and software upgrades. Amounts allocated to each element are based on its objectively determined fair value, such as the sales price of the product or service when it is sold separately, competitor prices for similar products or our best estimate. The hardware and software components are usually recognized as revenue contemporaneously, as both are required for essential functionality of the products, with the installation being recognized upon completion. Revenues related to maintenance, extended warranties and software upgrades are recognized on a pro-rata basis over the coverage period.

We offer sales incentive programs primarily to effect volume rebates and promotional and advertising allowances. These programs are only significant to one of our business units. The liability for these programs, and the resulting reduction to reported revenues, is determined primarily through trend analysis, historical experience and expectations regarding customer participation.

Amounts billed for shipping and handling are included in revenues. Costs incurred for shipping and handling are recorded in cost of products sold. Taxes assessed by governmental authorities that are directly imposed on a revenue-producing transaction between a seller and a customer are presented on a net basis (excluded from revenues) in our consolidated statements of operations.

In addition, certain of our businesses, primarily within the Flow Technology and Thermal Equipment and Services reportable segments, also recognize revenues from long-term construction/installation contracts under the percentage-of-completion method of accounting. The percentage-of-completion is measured principally by the percentage of costs incurred to date for each contract to the estimated total costs for such contract at completion. We recognize revenues for similar short-term contracts using the completed-contract method of accounting.

Provisions for any estimated losses on uncompleted long-term contracts are made in the period in which such losses are determined. In the case of customer change orders for uncompleted long-term contracts, estimated recoveries are included for work performed in forecasting ultimate profitability on certain contracts. Due to uncertainties inherent in the estimation process, it is possible that completion costs, including those arising from contract penalty provisions and final contract settlements, may be revised in the near-term. Such revisions to costs and income are recognized in the period in which the revisions are determined.

Costs and estimated earnings in excess of billings arise when revenues have been recorded but the amounts have not been billed under the terms of the contracts. These amounts are recoverable from customers upon various measures of performance, including achievement of certain milestones, completion of specified units or completion of the contract. Claims related to long-term contracts are recognized as revenue only after we have determined that collection is probable and the amount can be reliably estimated. Claims made by us involve negotiation and, in certain cases, litigation or other dispute-resolution processes. In the event we incur litigation or other dispute-resolution costs in connection with claims, such costs are expensed as incurred, although we may seek to recover these costs. Claims against us are recognized when a loss is considered probable and amounts are reasonably estimable.

We recognized $1,206.4, $1,343.8 and $1,594.7 in revenues under the percentage-of-completion method for the years ended December 31, 2014, 2013 and 2012, respectively. Costs and estimated earnings on uncompleted contracts, from their inception, and related amounts billed as of December 31, 2014 and 2013 were as follows:

	2014			2013
Costs incurred on uncompleted contracts	$	3,232.6		$	3,767.4
Estimated earnings to date		591.1			813.2

		3,823.7			4,580.6
Less: Billings to date		(3,765.5	)		(4,517.9	)

		58.2			62.7
Net costs and estimated earnings in excess of billings assumed in the acquisition of Clyde Union (Holdings) S.A.R.L. ("Clyde Union")		—			4.2

Net costs and estimated earnings in excess of billings	$	58.2		$	66.9

These amounts are included in the accompanying consolidated balance sheets at December 31, 2014 and 2013 as shown below. Amounts for billed retainages and receivables to be collected in excess of one year are not significant for the periods presented.

	2014			2013
Costs and estimated earnings in excess of billings(1)	$	237.1		$	285.3
Billings in excess of costs and estimated earnings on uncompleted contracts(2)		(178.9	)		(218.4	)

Net costs and estimated earnings in excess of billings	$	58.2		$	66.9

(1)	Reported as a component of "Accounts receivable, net."
(2)	Reported as a component of "Accrued expenses."

Research and Development Costs — We expense research and development costs as incurred. We charge costs incurred in the research and development of new software included in products to expense until technological feasibility is established. After technological feasibility is established, additional eligible costs are capitalized until the product is available for general release. We amortize these costs over the economic lives of the related products and include the amortization in cost of products sold. We perform periodic reviews of the recoverability of these capitalized software costs. At the time we determine that capitalized amounts are not recoverable based on the estimated cash flows to be generated from the applicable software, we write off any unrecoverable capitalized amounts. We expensed research activities relating to the development and improvement of our products of $51.1, $47.3 and $49.0 in 2014, 2013 and 2012, respectively.

Property, Plant and Equipment — Property, plant and equipment ("PP&E") is stated at cost, less accumulated depreciation. We use the straight-line method for computing depreciation expense over the useful lives of PP&E, which do not exceed 40 years for buildings and range from 3 to 15 years for machinery and equipment. Depreciation expense, including amortization of capital leases, was $77.4, $82.1 and $73.7 for the years ended December 31, 2014, 2013 and 2012, respectively. Leasehold improvements are amortized over the life of the related asset or the life of the lease, whichever is shorter. Interest is capitalized on significant construction or installation projects. Interest capitalized during 2012 totaled $0.5. No interest was capitalized during 2014 or 2013.

Pension and Postretirement — We recognize changes in the fair value of plan assets and actuarial gains and losses in earnings during the fourth quarter of each year, unless earlier remeasurement is required, as a component of net periodic benefit expense and, accordingly, recognize the effects of plan investment performance, interest rate changes, and changes in actuarial assumptions as a component of earnings in the year in which they occur. The remaining components of pension/postretirement expense, primarily service and interest costs and expected return on plan assets, are recorded on a quarterly basis.

Income Taxes — We account for our income taxes based on the requirements of the Income Taxes Topic of the Codification, which includes an estimate of the amount of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in our consolidated financial statements or tax returns. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. We periodically assess the realizability of deferred tax assets and the adequacy of deferred tax liabilities, including the results of local, state, federal or foreign statutory tax audits or estimates and judgments used.

Derivative Financial Instruments — We use foreign currency forward contracts ("FX forward contracts") to manage our exposures to fluctuating currency exchange rates, and forward contracts to manage the exposure on forecasted purchases of commodity raw materials ("commodity contracts"). We have used interest rate protection agreements ("Swaps") to manage our exposures to fluctuating interest rate risk on variable rate debt. Derivatives are recorded on the balance sheet and measured at fair value. For derivatives designated as hedges of the fair value of assets or liabilities, the changes in fair values of both the derivatives and the hedged items are recorded in current earnings. For derivatives designated as cash flow hedges, the effective portion of the changes in fair value of the derivatives is recorded in accumulated other comprehensive income ("AOCI") and subsequently recognized in earnings when the hedged items impact earnings. Changes in the fair value of derivatives not designated as hedges, and the ineffective portion of cash flow hedges, are recorded in current earnings. We do not enter into financial instruments for speculative or trading purposes.

For those transactions that are designated as cash flow hedges, on the date the derivative contract is entered into, we document our hedge relationship, including identification of the hedging instruments and the hedged items, as well as our risk management objectives and strategies for undertaking the hedge transaction. We also assess, both at inception and quarterly thereafter, whether such derivatives are highly effective in offsetting changes in the fair value of the hedged item. See Notes 13 and 16 for further information.

Cash flows from hedging activities are included in the same category as the items being hedged, which is primarily operating activities.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Use of Estimates

12 Months Ended

Dec. 31, 2014

Use of Estimates

Use of Estimates

(2) Use of Estimates

The preparation of our consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues (e.g., our percentage-of-completion estimates described above) and expenses during the reporting period. We evaluate these estimates and judgments on an ongoing basis and base our estimates on experience, current and expected future conditions, third-party evaluations and various other assumptions that we believe are reasonable under the circumstances. The results of these estimates form the basis for making judgments about the carrying values of assets and liabilities as well as identifying and assessing the accounting treatment with respect to commitments and contingencies. Actual results may differ from the estimates and assumptions used in the consolidated financial statements and related notes.

Listed below are certain significant estimates and assumptions used in the preparation of our consolidated financial statements. Certain other estimates and assumptions are further explained in the related notes.

Accounts Receivable Allowances — We provide allowances for estimated losses on uncollectible accounts based on our historical experience and the evaluation of the likelihood of success in collecting specific customer receivables. In addition, we maintain allowances for customer returns, discounts and invoice pricing discrepancies, with such allowances primarily based on historical experience. Summarized below is the activity for these allowance accounts.

	Year ended December 31,
	2014			2013			2012
Balance at beginning of year	$	46.4		$	50.2		$	40.8
Allowances provided		30.9			23.8			27.9
Write-offs, net of recoveries, credits issued and other		(40.5	)		(27.6	)		(18.5	)

Balance at end of year	$	36.8		$	46.4		$	50.2

Inventory — We estimate losses for excess and/or obsolete inventory and the net realizable value of inventory based on the aging and historical utilization of the inventory and the evaluation of the likelihood of recovering the inventory costs based on anticipated demand and selling price.

Long-Lived Assets and Intangible Assets Subject to Amortization — We continually review whether events and circumstances subsequent to the acquisition of any long-lived assets, or intangible assets subject to amortization, have occurred that indicate the remaining estimated useful lives of those assets may warrant revision or that the remaining balance of those assets may not be fully recoverable. If events and circumstances indicate that the long-lived assets should be reviewed for possible impairment, we use projections to assess whether future cash flows on an undiscounted basis related to the assets are likely to exceed the related carrying amount. We will record an impairment charge to the extent that the carrying value of the assets exceed their fair values as determined by valuation techniques appropriate in the circumstances, which could include the use of similar projections on a discounted basis.

In determining the estimated useful lives of definite-lived intangibles, we consider the nature, competitive position, life cycle position, and historical and expected future operating cash flows of each acquired asset, as well as our commitment to support these assets through continued investment and legal infringement protection.

Goodwill and Indefinite-Lived Intangible Assets — We test goodwill and indefinite-lived intangible assets for impairment annually during the fourth quarter and continually assess whether a triggering event has occurred to determine whether the carrying value exceeds the implied fair value. The fair value of reporting units is based generally on discounted projected cash flows, but we also consider factors such as comparable industry price multiples. We employ cash flow projections that we believe to be reasonable under current and forecasted circumstances, the results of which form the basis for making judgments about the carrying values of the reported net assets of our reporting units. Many of our businesses closely follow changes in the industries and end markets that they serve. Accordingly, we consider estimates and judgments that affect the future cash flow projections, including principal methods of competition, such as volume, price, service, product performance and technical innovations, as well as estimates associated with cost reduction initiatives, capacity utilization and assumptions for inflation and foreign currency changes. Actual results may differ from these estimates under different assumptions or conditions. See Note 8 for further information, including discussion of impairment charges recorded in 2014, 2013 and 2012.

Accrued Expenses — We make estimates and judgments in establishing accruals as required under GAAP. Summarized in the table below are the components of accrued expenses at December 31, 2014 and 2013.

	December 31,
	2014		2013
Employee benefits	$	219.6	$	215.3
Unearned revenue(1)		375.4		460.9
Warranty		38.3		42.4
Other(2)		259.0		272.2

Total	$	892.3	$	990.8

(1)	Unearned revenue includes billings in excess of costs and estimated earnings on uncompleted contracts accounted for under the percentage-of-completion method of revenue recognition, customer deposits and unearned amounts on service contracts.
(2)	Other consists of various items including, among other items, accrued legal costs, interest, restructuring costs and dividends payable, none of which is individually material.

Legal — It is our policy to accrue for estimated losses from legal actions or claims when events exist that make the realization of the losses probable and they can be reasonably estimated. We do not discount legal obligations or reduce them by anticipated insurance recoveries.

Environmental Remediation Costs — We expense costs incurred to investigate and remediate environmental issues unless they extend the economic useful lives of related assets. We record liabilities when it is probable that an obligation has been incurred and the amounts can be reasonably estimated. 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. We generally do not discount environmental obligations or reduce them by anticipated insurance recoveries.

Self-Insurance — We are self-insured for certain of our workers' compensation, automobile, product, general liability, disability and health costs, and we maintain adequate accruals to cover our retained liabilities. Our accruals for self-insurance liabilities are based on claims filed and an estimate 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; however, this insurance may be insufficient or unavailable (e.g., because of insurer insolvency) to protect us against potential loss exposures. The key assumptions considered in estimating the ultimate cost to settle reported claims and the estimated costs associated with incurred but not yet reported claims include, among other things, our historical and industry claims experience, trends in health care and administrative costs, our current and future risk management programs, and historical lag studies with regard to the timing between when a claim is incurred and reported.

Warranty — In the normal course of business, we issue product warranties for specific products and provide for the estimated future warranty cost in the period in which the sale is recorded. We provide for the estimate of warranty cost based on contract terms and historical warranty loss experience that is periodically adjusted for recent actual experience. Because warranty estimates are forecasts that are based on the best available information, claims costs may differ from amounts provided. In addition, due to the seasonal fluctuations at certain of our businesses, the timing of warranty provisions and the usage of warranty accruals can vary period to period. We make adjustments to initial obligations for warranties as changes in the obligations become reasonably estimable. The following is an analysis of our product warranty accrual for the periods presented:

	Year ended December 31,
	2014			2013			2012
Balance at beginning of year	$	55.1		$	60.0		$	55.9
Acquisition		—			—			3.7
Provisions		34.9			31.4			24.9
Usage		(32.0	)		(36.4	)		(25.0	)
Currency translation adjustment		(2.0	)		0.1			0.5

Balance at end of year		56.0			55.1			60.0
Less: Current portion of warranty		38.3			42.4			49.9

Non-current portion of warranty	$	17.7		$	12.7		$	10.1

Income Taxes — We perform reviews of our income tax positions on a continuous basis and accrue for potential uncertain tax positions in accordance with the Income Taxes Topic of the Codification. Accruals for these uncertain tax positions are classified as "Income taxes payable" and "Deferred and other income taxes" in the accompanying consolidated balance sheets based on an expectation as to the timing of when the matter will be resolved. As events change or resolutions occur, these accruals are adjusted, such as in the case of audit settlements with taxing authorities. For tax positions where it is more likely than not that a tax benefit will be sustained, we record the largest amount of tax benefit with a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority, assuming such authority has full knowledge of all relevant information. These reviews also entail analyzing the realization of deferred tax assets. When we believe that it is more likely than not that we will not realize a benefit for a deferred tax asset based on all available evidence, we establish a valuation allowance against it.

Employee Benefit Plans — Defined benefit plans cover a portion of our salaried and hourly employees, including certain employees in foreign countries. As discussed in Note 1, we recognize changes in the fair value of plan assets and actuarial gains and losses associated with our pension and postretirement benefit plans in earnings during the fourth quarter of each year, unless earlier remeasurement is required, as a component of net periodic benefit expense. The remaining components of pension/postretirement expense, primarily service and interest costs and expected return on plan assets, are recorded on a quarterly basis. See Note 10 for further discussion of our pension and postretirement benefits.

We derive pension expense from an actuarial calculation based on the defined benefit plans' provisions and our assumptions regarding discount rate and rate of increase in compensation levels. We determine the discount rate for our more significant U.S. plans by matching the expected projected benefit obligation cash flows of the plans to a yield curve that is representative of long-term, high-quality (rated AA or higher) fixed income debt instruments as of the measurement date. For our other plans, we determine the discount rate based on representative bond indices. The rate of increase in compensation levels is established based on our expectations of current and foreseeable future increases in compensation. We also consult with independent actuaries in determining these assumptions.

- Definition

Provides an entity's explanation that the preparation of financial statements in conformity with generally accepted accounting principles requires the use of management estimates. Estimates used in the determination of carrying amounts of assets or liabilities, or in disclosure of gain or loss contingencies should be disclosed if known information available prior to issuance of the financial statements indicates that both of these criteria are met: (1) It is at least reasonably possible that the estimate of the effect on the financial statements of a condition, situation, or set of circumstances that existed at the date of the financial statements will change in the near term (less than one year from the date of issuance) due to one or more future confirming events, and (2) The effect of the change would be material to the financial statements. The disclosure should indicate the nature of the uncertainty and include an indication that it is at least reasonably possible that a change in the estimate will occur in the near term. Disclosure of the factors that cause the estimate to be sensitive to change also is encouraged. Entities also may identify those areas that are subject to significant estimates.

+ References+ Details

New Accounting Pronouncements	12 Months Ended
New Accounting Pronouncements	Dec. 31, 2014
New Accounting Pronouncements
New Accounting Pronouncements	(3) New Accounting Pronouncements The following is a summary of new accounting pronouncements that apply or may apply to our business. In July 2012, the Financial Accounting Standards Board ("FASB") issued an amendment to guidance relating to testing indefinite-lived intangible assets, other than goodwill, for impairment. Under the revised guidance, entities testing such assets for impairment have the option of first performing a qualitative assessment to determine whether it is more likely than not that the carrying amount of an indefinite-lived intangible asset exceeds its fair value. If an entity determines, on the basis of qualitative factors, that it is more likely than not that the indefinite-lived intangible asset is impaired, the entity shall calculate the fair value of the intangible asset and perform the quantitative impairment test in accordance with the Intangibles — Goodwill and Other Topic of the Codification. The amendment was effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. We adopted this guidance on January 1, 2013, with no material impact on our consolidated financial statements. In February 2013, the FASB issued an amendment to guidance relating to the reporting of reclassifications out of AOCI. This guidance requires companies to present, in one place, information about significant amounts reclassified from AOCI. In addition, for significant items reclassified out of AOCI to net income in their entirety during the reporting period, companies must report the effect of such reclassifications on the respective line items in the statement of operations. For amounts not required to be reclassified to net income in their entirety, companies must reference the disclosures that provide additional detail about those amounts. This amendment was effective for interim and annual reporting periods beginning after December 15, 2012, and must be applied prospectively. We adopted this guidance on January 1, 2013, with the required disclosures included in Note 15. In March 2013, the FASB issued an amendment to guidance to resolve the diversity in practice relating to a parent entity's accounting for the cumulative translation adjustment ("CTA") upon derecognition of foreign subsidiaries or groups of assets. The amendment requires that any CTA related to the parent entity's investment in a foreign entity be released into earnings when a sale or transfer of the foreign subsidiary or group of assets results in the complete or substantially complete liquidation of the foreign entity. This amendment is effective for interim and annual reporting periods beginning after December 15, 2013, and must be applied prospectively. We adopted this guidance on January 1, 2014, with no material impact on our consolidated financial statements. In July 2013, the FASB issued an amendment to guidance to resolve the diversity in practice in the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward (collectively, a "carryforward") exists. An unrecognized tax benefit, or portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for the carryforward, except to the extent (i) the carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or (ii) the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose. In these cases, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This amendment applies to all entities that have unrecognized tax benefits when a carryforward exists at the reporting date. This amendment is effective for interim and annual reporting periods beginning after December 15, 2013 and must be applied prospectively to all unrecognized tax benefits that exist at the effective date, with retrospective application permitted. We adopted this guidance on January 1, 2014, with no material impact on our consolidated financial statements. In April 2014, the FASB issued an amendment to guidance to change the criteria for determining which disposals of components of an entity can be presented as discontinued operations and to modify related disclosure requirements. Under the amended guidance, a discontinued operation is defined as a disposal of a component or group of components that is disposed of or is classified as held for sale and represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results. The amendment states that a "strategic shift" could include a disposal of (i) a major geographical area of operations, (ii) a major line of business, (iii) a major equity method investment, or (iv) other major parts of an entity. The standard no longer precludes presentation as a discontinued operation if there are operations and cash flows of the component that have not been eliminated from the reporting entity's ongoing operations, or there is significant continuing involvement with a component after its disposal. This amendment is effective for interim and annual reporting periods beginning after December 15, 2014 and shall be applied prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date. The impact of the adoption of this amendment on our consolidated financial statements will be based on our future disposal activity. In May 2014, the FASB issued a new standard on revenue recognition that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The new standard contains a five-step approach that entities will apply to determine the measurement of revenue and timing of when it is recognized, including (i) identifying the contract(s) with a customer, (ii) identifying the separate performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to separate performance obligations, and (v) recognizing revenue when (or as) each performance obligation is satisfied. The new standard requires a number of disclosures intended to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue, and the related cash flows. The disclosures include qualitative and quantitative information about contracts with customers, significant judgments made in applying the revenue guidance, and assets recognized from the costs to obtain or fulfill a contract. The new standard is effective for interim and annual reporting periods beginning after December 15, 2016 and may be applied either retrospectively or through the use of a modified-retrospective method. We are currently evaluating both methods of adoption as well as the effect that this new standard will have on our consolidated financial statements.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

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

-Publisher SEC

-Name Regulation S-X (SX)

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+ Details

Acquisitions, Discontinued Operations and Formation of Shanghai Electric JV

12 Months Ended

Dec. 31, 2014

Acquisitions, Discontinued Operations and Formation of Shanghai Electric JV

Acquisitions, Discontinued Operations and Formation of Shanghai Electric JV

(4) Acquisitions, Discontinued Operations and Formation of Shanghai Electric JV

We use acquisitions as a part of our strategy to gain access to customer relationships and new technology, expand our geographical reach, penetrate new markets and leverage our existing product, market, manufacturing and technical expertise. Further, 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. Acquisitions and divestitures for the years ended December 31, 2014, 2013 and 2012 are described below.

The consolidated statements of operations include the results of the acquired business since the date of its acquisition. The assets acquired and liabilities assumed are recorded at estimates of fair values as determined by us based on its information available at the acquisition date. We consider a number of factors, including third-party valuations or appraisals, when making these determinations. We will recognize additional assets or liabilities if new information is obtained during the measurement period about facts and circumstances that existed as of the acquisition date that, if known, would have resulted in the recognition of those assets and liabilities as of that date. The measurement period will not exceed one year from the acquisition date.

There were no acquisitions in 2014 or 2013.

Acquisition — 2012

On March 21, 2012, our Flow Technology reportable segment completed the acquisition of Seital S.r.l. ("Seital"), a supplier of disk centrifuges (separators and clarifiers) to the global food and beverage, biotechnology, pharmaceutical and chemical industries, for a purchase price of $28.8, net of cash acquired of $2.5 and including debt assumed of $0.8. Seital had revenues of approximately $14.0 in the twelve months prior to the date of acquisition. The pro forma effects of the acquisition of Seital were not material, individually or in the aggregate, to our consolidated results of operations.

Discontinued Operations

We report businesses or asset groups as discontinued operations when, among other things, we terminate the operations of the business or asset group, commit to a plan to divest the business or asset group or actively begin marketing the business or asset group, and the sale of the business or asset group is deemed probable within the next twelve months.

During the fourth quarter of 2014, our Board of Directors unanimously approved a plan for a tax-free spin-off of our Flow Technology reportable segment and our Hydraulic Technologies business, and the creation of a new stand-alone, publicly-traded company focused on providing highly engineered technologies and services to customers in the global power and energy, food and beverage, and industrial markets. In connection with the planned spin-off transaction, we determined that we would no longer pursue the sale of our Flash Technologies business, a business that was previously reported in discontinued operations. Accordingly, we have reclassified the results of operations, assets and liabilities, and cash flows of this business to continuing operations for all periods presented. This business is included within Industrial Products and Services and Other.

The following businesses, which have been sold or for which operations have been terminated, met the requirements described above and therefore have been reported as discontinued operations for all periods presented:

Business	Quarter Discontinued		Quarter of Sale or Termination of Operations
Fenn LLC ("Fenn")		Q3 2013		Q3 2014
SPX Precision Components ("Precision Components")		Q3 2013		Q2 2014
Thermal Product Solutions ("TPS")		Q3 2013		Q1 2014
Broadcast Antenna System business ("Dielectric")		Q2 2013		Q2 2013
Crystal Growing business ("Kayex")		Q1 2013		Q1 2013
TPS Tianyu Equipment Co., Ltd. ("Tianyu")		Q4 2012		Q4 2012
Weil-McLain (Shandong) Cast-Iron-Boiler Co., Ltd. ("Weil-McLain Shandong")		Q4 2012		Q4 2012
SPX Service Solutions ("Service Solutions")		Q1 2012		Q4 2012

Fenn — Sold for cash consideration of $3.5 during 2014, resulting in a loss, net of taxes, of $0.4.

Precision Components — Sold for cash consideration of $62.6 during 2014 (inclusive of cash paid of $0.4 associated with the working capital settlement), resulting in a loss, net of taxes, of $6.9.

TPS — Sold for cash consideration of $42.5 during 2014, resulting in a gain, net of taxes, of $21.7.

Dielectric — We sold assets of the business during 2013 for cash consideration of $4.7, resulting in a gain of less than $0.1.

Kayex — We closed the business during 2013. We recorded a gain, net of taxes, of $1.3 during 2013 associated primarily with a gain on the sale of a perpetual license related to certain of the business's intangible assets, which was partially offset by a loss related to severance costs and asset impairment charges. Proceeds from the sale of the perpetual license totaled $6.9.

Tianyu — Sold for cash consideration of one Chinese Yuan ("CNY") (exclusive of cash transferred with the business of $1.1), resulting in a loss, net of taxes, of $1.8 during 2012.

Weil-McLain Shandong — Sold for cash consideration of $2.7 (exclusive of cash transferred with the business of $3.1), resulting in a gain, net of taxes, of $2.2 during 2012. During 2013, we received $1.1 associated with the working capital settlement and reduced the net gain by $0.4. During 2014, we decreased the net gain by $1.1 as a result of revisions to income tax liabilities related to the sale.

Service Solutions — Sold to Robert Bosch GmbH for cash consideration of $1,134.9, resulting in a gain, net of taxes, of $313.4 during 2012. During 2013, we received $0.8 associated with the working capital settlement and reduced the net gain by $0.3, associated primarily with the working capital settlement and revisions to income tax and other liabilities related to the sale. During 2014, we increased the net gain by $2.1, primarily as a result of revisions to income tax liabilities related to the sale.

In addition to the businesses discussed above, we recognized net losses of $2.1, $4.6 and $0.4 during 2014, 2013 and 2012, respectively, resulting from adjustments to gains/losses on dispositions of businesses discontinued prior to 2012.

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 with the buyers, an arbitration or other dispute-resolution process. Final agreement of the working capital figures with the buyers 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 2014, 2013 and 2012, income from discontinued operations and the related income taxes are shown below:

	Year ended December 31,
	2014			2013			2012
Income from discontinued operations	$	22.1		$	3.6		$	612.7
Income tax provision		(13.8	)		(2.3	)		(264.3	)

Income from discontinued operations, net	$	8.3		$	1.3		$	348.4

For 2014, 2013 and 2012, results of operations from our businesses reported as discontinued operations were as follows:

	Year ended December 31,
	2014			2013		2012
Revenues	$	27.7		$	148.9	$	1,030.6
Pre-tax income (loss)		(6.1	)		7.0		57.1

The major classes of assets and liabilities, excluding intercompany balances, of the businesses reported as discontinued operations included in the accompanying consolidated balance sheet as of December 31, 2013 are shown below:

	December 31, 2013
Assets:
Accounts receivable, net	$	19.1
Inventories, net		33.9
Other current assets		1.1
Property, plant and equipment, net		12.1
Goodwill and intangibles, net		34.7

Assets of discontinued operations	$	100.9


Liabilities:
Accounts payable	$	10.4
Accrued expenses		17.0

Liabilities of discontinued operations	$	27.4

Formation of Shanghai Electric JV

On December 30, 2011, we and Shanghai Electric Group Co., Ltd. established Shanghai Electric — SPX Engineering & Technologies Co., Ltd. (the "Shanghai Electric JV"), a joint venture supplying dry cooling and moisture separator reheater products and services to the power sector in China and other selected regions of the world. We contributed and sold certain assets of our dry cooling products business in China to the joint venture in consideration for a 45% ownership interest in the joint venture and cash payments of CNY 96.7, with CNY 51.5 received in January 2012, CNY 25.8 received in December 2012, and the remaining CNY 19.4 received in 2013. In addition, we have licensed our dry cooling and moisture separator reheater technologies to the joint venture, for which we are receiving a royalty. We also are continuing to manufacture dry cooling components in our China factories and have entered into an exclusive supply agreement with the joint venture for these products. Final approval for the transaction was received in January 2012. We determined that this transaction met the deconsolidation criteria of the Consolidation Topic of the Codification, and, thus, recorded a gain for the transaction equal to the estimated fair value of our investment in the joint venture plus any consideration received, less the carrying value of assets contributed and sold to the joint venture. We recorded the net gain associated with this transaction of $20.5 in the first quarter of 2012, with the gain included in "Other income (expense), net."

The Shanghai Electric JV's results of operations and our equity earnings in this investment, as included in our consolidated statements of operations, were not material to any period presented.

Information on Reportable Segments and Other Operating Segments

12 Months Ended

Dec. 31, 2014

Information on Reportable Segments and Other Operating Segments

Information on Reportable Segments and Other Operating Segments

(5) Information on Reportable Segments and Other Operating Segments

We are a global supplier of highly specialized, engineered solutions with operations in over 35 countries and sales in over 150 countries around the world. Many of our products and innovative solutions play a role in helping to meet rising global demand for power and energy and processed foods and beverages, particularly in emerging markets. In 2014, an estimated 27% of our revenues were from sales into emerging markets. Our key products include processing systems and equipment for the food and beverage industry, reciprocating pumps used in oil and gas processing, power transformers used by utility companies, and cooling systems for power plants.

We aggregate certain of our operating segments into our two reportable segments, Flow Technology and Thermal Equipment and Services, while our remaining operating segments, which do not meet the quantitative threshold criteria of the Segment Reporting Topic of the Codification, have been combined within our "All Other" category, which we refer to as Industrial Products and Services and Other. The operating segments in this "All Other" category generally serve industrial end-markets. Industrial Products and Services and Other is not considered a reportable segment.

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, pension and postretirement expense/income, stock-based compensation and other indirect corporate expenses. This is consistent with the way our chief operating decision maker evaluates the results of each segment.

Revenues by reportable segment and our other operating segments and geographic area represent sales to unaffiliated customers, and no one customer or group of customers that, to our knowledge, are under common control accounted for more than 10% of our consolidated revenues for any period presented. Intercompany revenues among reportable segments and our other operating segments are not significant. Identifiable assets by reportable segment and for the other operating segments are those used in the respective operations of each. General corporate assets are principally cash, pension assets, deferred tax assets, certain prepaid expenses, fixed assets, and, as of December 31, 2013, our 44.5% interest in the EGS Electrical Group, LLC and Subsidiaries ("EGS") joint venture (which we sold to Emerson Electric Co. on January 7, 2014). See Note 9 for financial information relating to EGS, as well as details associated with the sale of our interest in the joint venture.

Flow Technology Reportable Segment

Our Flow Technology reportable segment engineers, designs, manufactures and markets products and solutions used to process, blend, filter, dry, meter and transport fluids with a focus on original equipment installation, including turnkey systems, skidded systems and components, as well as comprehensive aftermarket components and support services. Primary component offerings include engineered pumps, valves, mixers, plate heat exchangers, and dehydration and filtration technologies. The segment primarily serves customers in food and beverage, power and energy and industrial end markets. Core brands include SPX Flow Technology, APV, ClydeUnion, e&e, Seital, Lightnin, Waukesha Cherry-Burrell, Anhydro, Bran&Luebbe, Copes-Vulcan, Johnson Pump, M&J Valves, Plenty, Hankison, Gerstenberg Schröder, GD Engineering, Dollinger Filtration, Pneumatic Products, Delair, Deltech and Jemaco. Competitors in these diversified end markets include GEA Group AG, Flowserve, Alfa Laval AB, Sulzer, ITT Gould Pumps and IDEX Corporation. Channels to market consist of stocking distributors, manufacturers' representatives and direct sales. The segment continues to focus on innovation and new product development, 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.

Thermal Equipment and Services Reportable Segment

Our Thermal Equipment and Services reportable segment engineers, designs, manufactures, installs and services thermal heat transfer products. Primary offerings include dry, evaporative and hybrid cooling systems, rotating and stationary heat exchangers and pollution control systems for the power generation, HVAC and industrial markets, as well as boilers and heating and ventilation products for the residential and commercial markets. The primary distribution channels for the Thermal Equipment and Services reportable segment are direct to customers, independent manufacturing representatives, third-party distributors and retailers. The segment serves a global customer base, with a strong presence in North America, Europe and South Africa.

Industrial Products and Services and Other

Industrial Products and Services and Other comprises operating segments that design, manufacture and market power transformers, industrial tools and hydraulic units, tower and obstruction lights and monitoring equipment, communications and signal monitoring systems, fare collection systems, and portable cable and pipe locators. The primary distribution channels for the Industrial Products and Services and Other operating segments are direct to customers, independent manufacturing representatives and third-party distributors.

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 reportable segments and other operating segments, including the results of Seital from the date of its acquisition, for the years ended December 31, 2014, 2013 and 2012 were as follows:

	2014		2013			2012
Revenues:
Flow Technology reportable segment	$	2,596.1	$	2,638.0		$	2,682.2
Thermal Equipment and Services reportable segment(1)		1,329.9		1,344.2			1,490.9
Industrial Products and Services and Other		795.1		791.1			721.5

Total revenues	$	4,721.1	$	4,773.3		$	4,894.6


Income:
Flow Technology reportable segment	$	361.9	$	308.3		$	285.1
Thermal Equipment and Services reportable segment(1)		52.4		81.9			106.7
Industrial Products and Services and Other		107.8		119.9			99.3

Total income for reportable and other operating segments		522.1		510.1			491.1
Corporate expense		106.8		110.8			108.8
Pension and postretirement expense (income)		113.8		(17.7	)		158.0
Stock-based compensation expense		38.4		32.9			38.9
Impairment of goodwill and other long-term assets		38.1		6.7			285.9
Special charges, net		23.1		32.3			23.4

Consolidated operating income (loss)	$	201.9	$	345.1		$	(123.9	)


Capital expenditures:
Flow Technology reportable segment	$	34.8	$	21.0		$	25.6
Thermal Equipment and Services reportable segment		9.1		7.2			10.9
Industrial Products and Services and Other		6.9		10.3			19.4
General corporate		10.3		16.6			25.9

Total capital expenditures	$	61.1	$	55.1		$	81.8


Depreciation and amortization:
Flow Technology reportable segment	$	62.8	$	68.3		$	63.8
Thermal Equipment and Services reportable segment		20.3		22.5			22.0
Industrial Products and Services and Other		15.2		15.9			15.9
General corporate		10.9		8.4			6.1

Total depreciation and amortization	$	109.2	$	115.1		$	107.8


Identifiable assets:
Flow Technology reportable segment	$	3,165.7	$	3,526.8		$	3,611.2
Thermal Equipment and Services reportable segment		1,391.0		1,338.1			1,445.4
Industrial Products and Services and Other		667.4		684.8			699.3
General corporate		678.1		1,205.6			1,279.1
Discontinued operations		—		100.9			95.1

Total identifiable assets	$	5,902.2	$	6,856.2		$	7,130.1


Geographic Areas:
Revenues:(2)
United States	$	2,233.9	$	2,213.3		$	2,230.8
United Kingdom		452.0		499.6			545.2
Germany		311.9		306.2			358.5
China		278.4		235.9			232.3
South Africa		137.3		266.3			322.4
Other		1,307.6		1,252.0			1,205.4

	$	4,721.1	$	4,773.3		$	4,894.6


Tangible Long-Lived Assets:
United States	$	956.1	$	1,260.1		$	1,156.5
Other		444.6		385.7			310.2

Long-lived assets of continuing operations		1,400.7		1,645.8			1,466.7
Long-lived assets of discontinued operations		—		12.1			12.0

Total tangible long-lived assets	$	1,400.7	$	1,657.9		$	1,478.7

(1)

During 2014, the business environment surrounding our large power projects in South Africa became increasingly difficult. In addition, in January 2015, the end customer announced additional schedule delays for completing these projects. Against this background, we have incurred, and expect to incur, additional costs relating to the projects. We believe that a large portion of these costs is reimbursable by our subcontractors on the projects. However, certain of these subcontractors appear to be financially challenged and, as such, their ability to reimburse us is not reasonably assured. In consideration of these additional costs and the associated recoverability risk, we made revisions to expected revenues and costs on our large power projects in South Africa, resulting in a reduction in revenue and segment income during 2014 of $33.3.

(2)

Revenues are included in the above geographic areas based on the country that recorded the customer revenue.

Special Charges, Net

12 Months Ended

Dec. 31, 2014

Special Charges, Net

Special Charges, Net

(6) Special Charges, Net

As part of our business strategy, we periodically right-size and consolidate operations to improve long-term results. Additionally, from time to time, we alter our business model to better serve customer demand, discontinue lower-margin product lines and rationalize and consolidate manufacturing capacity. Our restructuring and integration decisions are based, in part, on discounted cash flows and are designed to achieve our goals of reducing structural footprint and maximizing profitability. As a result of our strategic review process, we recorded net special charges of $23.1 in 2014, $32.3 in 2013 and $23.4 in 2012. These net special charges were primarily related to restructuring initiatives to consolidate manufacturing and sales facilities, reduce workforce, and rationalize certain product lines, as well as asset impairment charges.

The components of the charges have been computed based on actual cash payouts, including severance and other employee benefits based on existing severance policies, local laws, and other estimated exit costs, and our estimate of the realizable value of the affected tangible and intangible assets.

Impairments of long-lived assets, including amortizable intangibles, which represent non-cash asset write-downs, typically arise from business restructuring decisions that lead to the disposition of assets no longer required in the restructured business. For these situations, we recognize a loss when the carrying amount of an asset exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. Fair values for assets subject to impairment testing are determined primarily by management, taking into consideration various factors including third-party appraisals, quoted market prices and previous experience. If an asset remains in service at the decision date, the asset is written down to its fair value and the resulting net book value is depreciated over its remaining economic useful life. When we commit to a plan to sell an asset, including the initiation of a plan to locate a buyer, and it is probable that the asset will be sold within one year based on its current condition and sales price, depreciation of the asset is discontinued and the asset is classified as an asset held for sale. The asset is written down to its fair value less any selling costs.

Liabilities for exit costs, including, among other things, severance, other employee benefit costs, and operating lease obligations on idle facilities, are measured initially at their fair value and recorded when incurred.

With the exception of certain multi-year operating lease obligations and other contractual obligations, which are not material to our consolidated financial statements, we anticipate that the liabilities related to restructuring actions will be paid within one year from the period in which the action was initiated.

Special charges for the years ended December 31, 2014, 2013 and 2012 are described in more detail below and in the applicable sections that follow:

	Years Ended December 31,
	2014		2013		2012
Employee termination costs	$	19.8	$	29.2	$	22.6
Facility consolidation costs		0.9		1.0		2.4
Other cash costs (recoveries), net		0.9		0.1		(4.4	)
Non-cash asset write-downs		1.5		2.0		2.8

Total	$	23.1	$	32.3	$	23.4

2014 Charges:

	Employee Termination Costs		Facility Consolidation Costs		Other Cash Costs, Net		Non-Cash Asset Write-downs		Total Special Charges
Flow Technology reportable segment	$	11.2	$	0.6	$	0.5	$	1.5	$	13.8
Thermal Equipment and Services reportable segment		5.7		0.3		0.4		—		6.4
Industrial Products and Services and Other		2.3		—		—		—		2.3
Corporate		0.6		—		—		—		0.6

Total	$	19.8	$	0.9	$	0.9	$	1.5	$	23.1

Flow Technology reportable segment — Charges for 2014 related primarily to severance and other costs associated with restructuring initiatives at various locations in Europe and the U.S. These actions were taken primarily to (i) reduce the cost base of Clyde Union, as we continue to integrate the business into our Flow Technology reportable segment, and (ii) reorganize the food and beverage commercial organization and Johnson Pump management structure in Europe. Once completed, restructuring activities are expected to result in the termination of approximately 100 employees. Charges for 2014 also included asset impairment charges of $1.5 related to tangible long-lived assets in the power and energy, and food and beverage, businesses.

Thermal Equipment and Services reportable segment — Charges for 2014 related primarily to severance and other costs associated with (i) restructuring actions at our Balcke Duerr and dry cooling businesses primarily in Germany in order to reduce the cost base of the businesses in response to reduced demand for nuclear power products and services in Europe, (ii) the restructuring of a regional sales organization within the boiler products business, and (iii) the closure of a facility in China. Once completed, restructuring activities are expected to result in the termination of approximately 80 employees.

Industrial Products and Services and Other — Charges for 2014 related primarily to costs associated with restructuring initiatives at various locations in the U.S. These actions resulted in the termination of 37 employees.

Corporate — Charges for 2014 related primarily to costs associated with our efforts to better align our corporate overhead structure with the new operational alignment we implemented in the second half of 2013.

Expected charges still to be incurred under actions approved as of December 31, 2014 are approximately $2.0.

2013 Charges:

	Employee Termination Costs		Facility Consolidation Costs		Other Cash Costs (Recoveries), Net			Non-Cash Asset Write-downs		Total Special Charges
Flow Technology reportable segment	$	11.8	$	1.0	$	(0.3	)	$	1.7	$	14.2
Thermal Equipment and Services reportable segment		16.3		—		—			—		16.3
Industrial Products and Services and Other		1.0		—		0.2			—		1.2
Corporate		0.1		—		0.2			0.3		0.6

Total	$	29.2	$	1.0	$	0.1		$	2.0	$	32.3

Flow Technology reportable segment — Charges for 2013 related primarily to severance costs associated with (i) restructuring initiatives at Clyde Union locations primarily in the U.K. and the U.S. and (ii) the operational realignment of the segment's reporting structure. These actions were taken primarily to reduce the cost base of Clyde Union, as we continued to integrate the business into our Flow Technology reportable segment, and to further align the segment's operational structure to its key end markets. These activities resulted in the termination of 500 employees. Charges for 2013 also included asset impairment charges of $1.7 related primarily to facilities that were exited in the U.S., Denmark and the U.K.

Thermal Equipment and Services reportable segment — Charges for 2013 related primarily to severance and other costs associated with restructuring actions at our Balcke Duerr and dry cooling businesses in Germany. These actions were taken to reduce the cost base of the businesses in response to reduced demand for nuclear power products and services in Europe. These activities resulted in the termination of 290 employees.

Industrial Products and Services and Other — Charges for 2013 related primarily to costs associated with restructuring initiatives at various locations in the U.S. These actions resulted in the termination of 40 employees.

Corporate — Charges for 2013 related primarily to costs associated with the early termination of two building leases and an asset impairment charge of $0.3.

2012 Charges:

	Employee Termination Costs		Facility Consolidation Costs		Other Cash Costs (Recoveries), Net			Non-Cash Asset Write-downs		Total Special Charges
Flow Technology reportable segment	$	16.2	$	1.8	$	—		$	0.9	$	18.9
Thermal Equipment and Services reportable segment		5.7		0.2		0.1			1.6		7.6
Industrial Products and Services and Other		—		0.3		—			—		0.3
Corporate		0.7		0.1		(4.5	)		0.3		(3.4	)

Total	$	22.6	$	2.4	$	(4.4	)	$	2.8	$	23.4

Flow Technology reportable segment — Charges for 2012 related primarily to cost reduction initiatives for the segment's components business in Europe and at locations in Canada and Denmark, as well as costs associated with the relocation of the segment's America's Shared Service Center from Des Plaines, IL to Charlotte, NC, the integration of Clyde Union, and the reorganization of the segment's food and beverage systems business, including asset impairment charges of $0.9. These activities resulted in the termination of 271 employees.

Thermal Equipment and Services reportable segment — Charges for 2012 related primarily to costs associated with restructuring initiatives at various locations in China and Europe, including asset impairment charges totaling $1.6, and severance costs associated with transferring certain functions of our boiler and heating products business to a location in Chicago, IL. These activities resulted in the termination of 195 employees.

Industrial Products and Services and Other — Charges for 2012 related primarily to costs associated with the closure of a location within our portable cable and pipe locator business.

Corporate — Charges for 2012 included a gain of $4.8 on the sale of land rights in Shanghai, China, for which the related costs previously had been written-off. This gain was offset partially by costs associated with consolidating certain corporate functions and our legal entity reduction initiative.

The following is an analysis of our restructuring liabilities for the years ended December 31, 2014, 2013 and 2012:

	December 31,
	2014			2013			2012
Balance at beginning of year	$	19.0		$	16.4		$	11.0
Special charges(1)		21.6			34.7			25.5
Utilization — cash(2)		(26.2	)		(32.4	)		(20.1	)
Currency translation adjustment and other		(0.1	)		0.3			—

Balance at the end of year	$	14.3		$	19.0		$	16.4

(1)

The years ended December 31, 2014, 2013 and 2012 included $0.0, $4.4 and $0.7, respectively, of charges that related to discontinued operations for which we have retained the related liabilities, and excluded $1.5, $2.0 and $3.4, respectively, of non-cash charges that impacted special charges but not the restructuring liabilities, as well as a gain of $4.8 on the sale of land rights in Shanghai, China during the year ended December 31, 2012.

(2)

The years ended December 31, 2014, 2013 and 2012 included $0.7, $3.6 and $1.0 of cash utilized to settle retained liabilities of discontinued operations.

Inventories, Net

12 Months Ended

Dec. 31, 2014

Inventories, Net

Inventories, Net

(7) Inventories, Net

Inventories at December 31, 2014 and 2013 comprised the following:

	December 31,
	2014			2013
Finished goods	$	138.2		$	148.7
Work in process		158.6			165.1
Raw materials and purchased parts		220.5			213.0

Total FIFO cost		517.3			526.8
Excess of FIFO cost over LIFO inventory value		(19.5	)		(20.9	)

Total inventories	$	497.8		$	505.9

Inventories include material, labor and factory overhead costs and are reduced, when necessary, to estimated net realizable values. Certain domestic inventories are valued using the last-in, first-out ("LIFO") method. These inventories were approximately 18% and 19% of total inventory at December 31, 2014 and 2013, respectively. Other inventories are valued using the first-in, first-out ("FIFO") method.

- 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

12 Months Ended

Dec. 31, 2014

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

(8) Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill, by reportable segment and our other operating segments for the year ended December 31, 2014, were as follows:

	December 31, 2013			Goodwill Resulting from Business Combinations		Impairments		Foreign Currency Translation and Other			December 31, 2014
Flow Technology reportable segment
Gross goodwill	$	1,120.2		$	—	$	—	$	(83.7	)	$	1,036.5
Accumulated impairments		—			—		—		—			—

Goodwill		1,120.2			—		—		(83.7	)		1,036.5

Thermal Equipment and Services reportable segment
Gross goodwill		570.0			—		—		(16.7	)		553.3
Accumulated impairments		(399.5	)		—		—		8.1			(391.4	)

Goodwill		170.5			—		—		(8.6	)		161.9

Industrial Products and Services and Other
Gross goodwill		398.9			—		—		(2.8	)		396.1
Accumulated impairments		(140.5	)		—		—		1.4			(139.1	)

Goodwill		258.4			—		—		(1.4	)		257.0

Total
Gross goodwill		2,089.1			—		—		(103.2	)		1,985.9
Accumulated impairments		(540.0	)		—		—		9.5			(530.5	)

Goodwill	$	1,549.1		$	—	$	—	$	(93.7	)	$	1,455.4

The changes in the carrying amount of goodwill, by reportable segment and our other operating segments for the year ended December 31, 2013, were as follows:

	December 31, 2012			Goodwill Resulting from Business Combinations		Impairments		Foreign Currency Translation and Other			December 31, 2013
Flow Technology reportable segment
Gross goodwill	$	1,114.6		$	—	$	—	$	5.6		$	1,120.2
Accumulated impairments		—			—		—		—			—

Goodwill		1,114.6			—		—		5.6			1,120.2

Thermal Equipment and Services reportable segment
Gross goodwill		563.7			—		—		6.3			570.0
Accumulated impairments		(395.7	)		—		—		(3.8	)		(399.5	)

Goodwill		168.0			—		—		2.5			170.5

Industrial Products and Services and Other
Gross goodwill		399.7			—		—		(0.8	)		398.9
Accumulated impairments		(140.4	)		—		—		(0.1	)		(140.5	)

Goodwill		259.3			—		—		(0.9	)		258.4

Total
Gross goodwill		2,078.0			—		—		11.1			2,089.1
Accumulated impairments		(536.1	)		—		—		(3.9	)		(540.0	)

Goodwill	$	1,541.9		$	—	$	—	$	7.2		$	1,549.1

Identifiable intangible assets were as follows:

	December 31, 2014							December 31, 2013
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Intangible assets with determinable lives:
Customer relationships	$	388.6	$	(91.7	)	$	296.9	$	413.4	$	(80.0	)	$	333.4
Technology		183.8		(59.8	)		124.0		196.6		(52.7	)		143.9
Patents		11.3		(8.8	)		2.5		11.5		(8.3	)		3.2
Other		28.7		(18.3	)		10.4		31.0		(18.6	)		12.4

		612.4		(178.6	)		433.8		652.5		(159.6	)		492.9
Trademarks with indefinite lives		397.2		—			397.2		435.4		—			435.4

Total	$	1,009.6	$	(178.6	)	$	831.0	$	1,087.9	$	(159.6	)	$	928.3

Amortization expense was $31.8, $33.0 and $34.1 for the years ended December 31, 2014, 2013 and 2012, respectively. Estimated amortization expense related to these intangible assets is $30.7 in 2015, $30.5 in 2016, $29.8 in 2017, $29.4 in 2018, and $28.0 in 2019.

At December 31, 2014, the net carrying value of intangible assets with determinable lives consisted of $385.1 in the Flow Technology reportable segment, $41.9 in the Thermal Equipment and Services reportable segment, and $6.8 in Industrial Products and Services and Other. Trademarks with indefinite lives consisted of $259.0 in the Flow Technology reportable segment, $117.0 in the Thermal Equipment and Services reportable segment, and $21.2 in Industrial Products and Services and Other.

Consistent with the requirements of the Intangible — Goodwill and Other Topic of the Codification, the fair values of our reporting units generally are estimated using discounted cash flow projections that we believe to be reasonable under current and forecasted circumstances, the results of which form the basis for making judgments about carrying values of the reported net assets of our reporting units. Other considerations are also incorporated, including comparable industry price multiples. Many of our reporting units closely follow changes in the industries and end markets that they serve. Accordingly, we consider estimates and judgments that affect the future cash flow projections, including principal methods of competition such as volume, price, service, product performance and technical innovations and estimates associated with cost improvement initiatives, capacity utilization and assumptions for inflation and foreign currency changes. Any significant change in market conditions and estimates or judgments used to determine expected future cash flows that indicate a reduction in carrying value may give rise to impairment in the period that the change becomes known.

We perform our annual goodwill impairment testing during the fourth quarter in conjunction with our annual financial planning process, with such testing based primarily on events and circumstances existing as of the end of the third quarter. In addition, we test goodwill for impairment on a more frequent basis if there are indications of potential impairment. Based on our annual goodwill impairment testing in 2014 and 2013, we determined that the estimated fair value of each of our reporting units exceeds the carrying value of their respective net assets by at least 10%.

We perform our annual trademarks impairment testing during the fourth quarter, or on a more frequent basis if there are indications of potential impairment. The fair values of our trademarks are determined by applying estimated royalty rates to projected revenues, with the resulting cash flows discounted at a rate of return that reflects current market conditions. The basis for these projected revenues is the annual operating plan for each of the related businesses, which is prepared in the fourth quarter of the preceding year. During the fourth quarter of 2014, we recorded impairment charges of $11.7 and $8.4 related to the trademarks of certain businesses within our Flow Technology and Thermal Equipment and Services reportable segments, respectively. These trademarks generally relate to businesses that serve power and energy markets. Our current revenue projections for these trademarks have been negatively impacted by the uncertainty in the oil markets and the lack of recoverability in the U.S. coal market. In addition, during the fourth quarter of 2014, we recorded an impairment charge of $18.0 related to our Cooling Equipment and Services ("Cooling") reporting unit's investment in the Shanghai Electric JV (see Note 4 for additional discussions of the Shanghai Electric JV). In China, a decline in economic growth, which has impacted demand for power generation, and increased local competition are expected to negatively impact future operating results of the joint venture. Accordingly, we concluded during the fourth quarter of 2014 that the fair value of our investment in the joint venture exceeded the related carrying value, resulting in the aforementioned impairment charge. Other changes in the gross values of trademarks and other identifiable intangible assets related primarily to foreign currency translation.

During 2013, we recorded impairment charges of $6.7 related to the trademarks of certain businesses within our Flow Technology reportable segment.

In connection with our annual goodwill impairment testing in 2012, our analysis indicated that the estimated fair value of our Cooling reporting unit was below the carrying value of its net assets. As a result, we estimated the implied fair value of Cooling's goodwill, which resulted in an impairment charge related to such goodwill of $270.4. The impairment charge of $270.4 was composed of (i) a $125.8 difference between the estimated fair value of Cooling compared to the carrying value of its net assets and (ii) an allocation to certain tangible and intangible assets of $144.6 for the estimated increases in fair value for these assets solely for purposes of applying the impairment provisions of the Intangible — Goodwill and Other Topic of the Codification.

In addition to the goodwill impairment charge of $270.4, we recorded an impairment charge of $11.0 in 2012 related to certain long-term assets of our Cooling reporting unit. Lastly, we recorded impairment charges of $4.5 in 2012 related to trademarks for two other businesses within our Thermal Equipment and Services reportable segment.

- 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

Investments in Joint Ventures

12 Months Ended

Dec. 31, 2014

Investments in Joint Ventures

Investments in Joint Ventures

(9) Investments in Joint Ventures

As of December 31, 2013, we had a joint venture, EGS, with Emerson Electric Co., in which we held a 44.5% interest. EGS operates primarily in the United States, Brazil, Canada and France, and is engaged in the manufacture of electrical fittings, hazardous location lighting and power conditioning products. We accounted for our investment using the equity method, on a three-month lag basis, and we typically received our share of the joint venture's earnings in cash dividends paid quarterly.

On January 7, 2014, we completed the sale of our 44.5% interest in EGS to Emerson Electric Co. for cash proceeds of $574.1. As a result of the sale, we recorded a gain of $491.2 to "Other income (expense), net" and no equity earnings related to this investment during 2014.

EGS's results of operations and selected other information for its fiscal years ended September 30, 2013 and 2012 were as follows:

	2013		2012
Revenues	$	517.5	$	527.0
Gross profit		223.3		221.9
Income from continuing operations		89.4		87.9
Net income		89.4		87.9
Capital expenditures		13.3		12.0
Depreciation and amortization		11.0		10.4
Dividends received by SPX		30.3		35.2
Undistributed earnings attributable to SPX Corporation		20.0		8.4
SPX's equity earnings in EGS		41.9		39.0

Condensed balance sheet information of EGS as of September 30, 2013 was as follows:

	2013
Current assets	$	180.4
Non-current assets		336.4
Current liabilities		108.0
Non-current liabilities		24.0

The carrying value of our investment in EGS was $81.8 at December 31, 2013, and is recorded in "Other assets" in our consolidated balance sheet as of that date.

The financial position, results of operations and cash flows of our other equity method investments are not material, individually or in the aggregate, in relation to our consolidated financial statements.

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References+ Details

Employee Benefit Plans

12 Months Ended

Dec. 31, 2014

Employee Benefit Plans

Employee Benefit Plans

(10) Employee Benefit Plans

Overview — Defined benefit pension plans cover a portion of our salaried and hourly paid employees, including certain employees in foreign countries. Beginning in 2001, we discontinued providing these pension benefits generally to newly hired employees. In addition, we no longer provide service credits to certain active participants. Of the U.S. employees covered by a defined benefit pension plan and actively accruing a benefit, most are covered by an account balance plan or are part of a collectively bargained plan.

We have domestic postretirement plans that provide health and life insurance benefits to certain retirees and their dependents. Beginning in 2003, we discontinued providing these postretirement benefits generally to newly hired employees. Some of these plans require retiree contributions at varying rates. Not all retirees are eligible to receive these benefits, with eligibility governed by the plan(s) in effect at a particular location.

The plan year-end date for all our plans is December 31.

Transfers of Retiree Pension Obligations and Lump-Sum Offer — In 2013, we executed an agreement to transfer obligations for monthly pension payments to retirees under the SPX U.S. Pension Plan (the "U.S. Plan") to Massachusetts Mutual Life Insurance Company ("Mass Mutual"). Under the agreement, Mass Mutual irrevocably assumed the obligation to make future pension payments to the approximately 16,000 retirees of the U.S. Plan beginning in the second quarter of 2014. The U.S. Plan paid Mass Mutual $663.7 in 2013 to assume obligations totaling approximately $609.0. The partial annuitization of the U.S. Plan resulted in a settlement gain of $4.8, which has been included in net periodic pension benefit expense for 2013. During 2014 the above settlement gain was increased by an additional $4.8 due to refunds by Mass Mutual to the U.S. Plan, with such gain included in net periodic pension benefit expense for 2014. Additionally, during a designated election period in the first quarter of 2014, we offered approximately 7,100 eligible former employees a voluntary lump-sum payment option in lieu of a future pension benefit under the U.S. Plan. Approximately 38%, or $165.2, of the projected benefit obligation of the U.S. Plan was settled as a result of lump-sum payments made to those who accepted the offer. These payments were made during the first quarter of 2014. In connection with the lump-sum payment action, a settlement loss and an actuarial loss of $4.6 and $14.8, respectively, have been recorded to net periodic pension benefit expense, with the actuarial loss resulting from the remeasurement of the assets and obligations of the U.S. Plan.

In the fourth quarter of 2014, we executed an agreement to transfer obligations for monthly pension payments to retirees under the SPX U.K. Pension Plan (the "U.K. Plan") to Just Retirement Limited ("Just Retirement"). Under the agreement, Just Retirement irrevocably assumed the obligation to make future pension payments to the approximately 900 retirees of the U.K. Plan beginning in the first quarter of 2015. The U.K. Plan paid Just Retirement 79.2 British Pounds ("GBP") ($123.3 equivalent) in the fourth quarter of 2014 to assume obligations totaling approximately GBP 68.0 ($105.8 equivalent). The partial annuitization of the U.K. Plan resulted in a settlement loss of $15.0, which has been included in net periodic pension benefit expense for 2014.

Defined Benefit Pension Plans

Plan assets — Our investment strategy is based on the long-term growth and protection of principal while mitigating overall risk to ensure that funds are available to pay benefit obligations. The domestic plan assets are invested in a broad range of investment classes, including fixed income securities and domestic and international equities. We engage various investment managers who are regularly evaluated on long-term performance, adherence to investment guidelines and the ability to manage risk commensurate with the investment style and objective for which they were hired. We continuously monitor the value of assets by class and routinely rebalance our portfolio with the goal of meeting our target allocations.

The strategy for bonds emphasizes investment-grade corporate and government debt with maturities matching a portion of the longer duration pension liabilities. The bonds strategy also includes a high yield element, which is generally shorter in duration. The strategy for equity assets is to minimize concentrations of risk by investing primarily in companies in a diversified mix of industries worldwide, while targeting neutrality in exposure to global versus regional markets, fund types and fund managers. A small portion of U.S. plan assets is allocated to private equity partnerships and real estate asset fund investments for diversification, providing opportunities for above market returns.

Allowable investments under the plan agreements include fixed income securities, equity securities, mutual funds, venture capital funds, real estate and cash and equivalents. In addition, investments in futures and option contracts, commodities and other derivatives are allowed in commingled fund allocations managed by professional investment managers. Investments prohibited under the plan agreements include private placements and short selling of stock. No shares of our common stock were held by our defined benefit pension plans as of December 31, 2014 or 2013.

Actual asset allocation percentages of each class of our domestic and foreign pension plan assets as of December 31, 2014 and 2013, along with the targeted asset investment allocation percentages, each of which is based on the midpoint of an allocation range, were as follows:

Domestic Pension Plans

	Actual Allocations						Mid-point of Target Allocation Range
	2014			2013			2014
Fixed income common trust funds		53	%		20	%		49	%
Commingled global fund allocation		12	%		15	%		18	%
Corporate bonds		12	%		0	%		12	%
Global equity common trust funds		11	%		25	%		10	%
Global equities		4	%		6	%		5	%
U.S. Government securities		4	%		0	%		4	%
Short-term investments(1)		3	%		33	%		0	%
Other(2)		1	%		1	%		2	%

Total		100	%		100	%		100	%

(1)	Short-term investments are generally invested in actively managed common trust funds or interest-bearing accounts.
(2)	Assets included in this class at December 31, 2014 and 2013 are comprised primarily of insurance contracts, private equity and publicly traded real estate trusts.

Foreign Pension Plans

	Actual Allocations						Mid-point of Target Allocation Range
	2014			2013			2014
Global equity common trust funds		69	%		43	%		44	%
Fixed income common trust funds		8	%		40	%		31	%
Non-U.S. Government securities		15	%		14	%		22	%
Short-term investments(1)		6	%		2	%		1	%
Other(2)		2	%		1	%		2	%

Total		100	%		100	%		100	%

(1)	Short-term investments are generally invested in actively managed common trust funds or interest-bearing accounts.
(2)	Assets included in this class comprised primarily insurance contracts.

The fair values of pension plan assets at December 31, 2014, by asset class, were as follows:

	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset class:
Debt securities:
Fixed income common trust funds(1)	$	178.2	$	15.1	$	163.1	$	—
Corporate bonds		36.5		36.5		—		—
Non-U.S. Government securities		28.5		—		28.5		—
U.S. Government securities		12.0		12.0		—		—
Equity securities:
Global equity common trust funds(2)		162.8		15.0		142.9		4.9
Global equities:
Finance		2.1		2.1		—		—
Capital equipment		1.9		1.9		—		—
Consumer goods		1.7		1.7		—		—
Materials		1.6		1.6		—		—
Services		0.8		0.8		—		—
Energy		0.2		0.2		—		—
Miscellaneous		4.6		4.6		—		—
Alternative investments:
Commingled global fund allocations(3)		36.3		10.5		25.8		—
Other:
Short-term investments(4)		19.7		19.7		—		—
Other(5)		5.5		0.3		—		5.2

Total	$	492.4	$	122.0	$	360.3	$	10.1

The fair values of pension plan assets at December 31, 2013, by asset class, were as follows:

	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset class:
Debt securities:
Fixed income common trust funds(1)	$	212.2	$	27.8	$	184.4	$	—
Non-U.S. Government securities		42.4		—		42.4		—
Equity securities:
Global equity common trust funds(2)		247.2		37.9		202.5		6.8
Global equities:
Finance		3.4		3.4		—		—
Capital equipment		4.8		4.8		—		—
Consumer goods		3.2		3.2		—		—
Materials		2.9		2.9		—		—
Services		1.4		1.4		—		—
Energy		1.9		1.9		—		—
Miscellaneous		8.9		8.9		—		—
Alternative investments:
Commingled global fund allocations(3)		71.5		20.0		51.5		—
Other:
Short-term investments(4)		163.7		163.7		—		—
Other(5)		6.9		0.5		—		6.4

Total	$	770.4	$	276.4	$	480.8	$	13.2

(1)	This class represents investments in actively managed common trust funds that invest in a variety of fixed income investments, which may include corporate bonds, both U.S. and non-U.S. municipal securities, interest rate swaps, options and futures. The funds are valued at the net asset value per share multiplied by the number of shares held as of the measurement date. The investments are valued based on yields currently available for comparable securities of issuers with similar credit ratings. The Level of the fund(s) (Level 1, 2 or 3) is determined based on the classification of the significant holdings within the fund.
(2)	This class represents investments in actively managed common trust funds that invest primarily in equity securities, which may include common stocks, options and futures. The funds are valued at the net asset value per share multiplied by the number of shares held as of the measurement date. The investments are valued based on market values and yields currently available for comparable securities of issuers with similar credit ratings. The Level of the fund(s) (Level 1, 2 or 3) is determined based on the classification of the significant holdings within the fund.
(3)	This class represents investments in actively managed common trust funds with investments in both equity and debt securities. The investments may include common stock, corporate bonds, U.S. and non-U.S. municipal securities, interest rate swaps, options and futures. The funds are valued at the net asset value per share multiplied by the number of shares held as of the measurement date. The investments are valued based on market values and yields currently available for comparable securities of issuers with similar credit ratings. The Level of the fund(s) (Level 1, 2 or 3) is determined based on the classification of the significant holdings within the fund.
(4)	Short-term investments are valued at $1.00/unit, which approximates fair value. Amounts are generally invested in actively managed common trust funds or interest-bearing accounts.
(5)	This category represents investments in insurance contracts, private equity and publicly traded real estate investment trusts. The insurance contracts and private equity investments are valued using unobservable inputs from the fund manager, primarily based on discounted cash flows models.

Our domestic pension plans participate in a securities lending program through J.P. Morgan Chase Bank, National Association. Securities loaned are required to be fully collateralized by cash or other securities. The gross collateral and the related liability to return collateral amounted to $7.0 and $13.7 at December 31, 2014 and 2013, respectively, and have been included within Level 2 of the fair value hierarchy in the tables above.

During 2014, there were no significant transfers between Level 1 and Level 2 of the fair value hierarchy. During 2013, the balance of one fixed income common trust fund was transferred from Level 1 to Level 2 of the fair value hierarchy (the fair value of this fund was $16.6 and $69.2 at December 31, 2013 and 2012, respectively), and two fixed income common trust funds were transferred from Level 2 to Level 1 of the fair value hierarchy (the fair values of these funds were $27.6 and $46.3 at December 31, 2013 and 2012, respectively). It is our policy to recognize transfers between levels of the fair value hierarchy at the beginning of the fiscal year.

The following table summarizes changes in the fair value of Level 3 assets for the years ended December 31, 2014 and 2013:

	Global Equity Common Trust Funds			Commingled Global Fund Allocations			Fixed Income Common Trust Funds			Other			Total
Balance at December 31, 2012	$	29.0		$	155.6		$	1.4		$	7.4		$	193.4
Transfers from Level 3 to Level 2 assets		—			(105.6	)		—			—			(105.6	)
Realized gains		—			0.9			—			—			0.9
Unrealized gains (losses) relating to instruments still held at period end		0.4			—			—			(0.1	)		0.3
Purchases		3.1			—			—			—			3.1
Sales		(25.7	)		(50.9	)		(1.4	)		(0.9	)		(78.9	)

Balance at December 31, 2013		6.8			—			—			6.4			13.2
Unrealized gains relating to instruments still held at period end		0.2			—			—			—			0.2
Sales		(2.1	)		—			—			(1.2	)		(3.3	)

Balance at December 31, 2014	$	4.9		$	—		$	—		$	5.2		$	10.1

During 2014, there were no transfers into or out of Level 3 assets. During 2013, the balance of one commingled global fund was transferred from Level 3 to Level 2 of the fair value hierarchy.

Employer Contributions — We currently fund U.S. pension plans in amounts equal to the minimum funding requirements of the Employee Retirement Income Security Act of 1974, plus additional amounts that may be approved from time to time. During 2014, we made no contributions to our qualified domestic pension plans, and direct benefit payments of $10.3 to our non-qualified domestic pension plans. In 2015, we do not expect to make any minimum required funding contributions to our qualified domestic pension plans and expect to make direct benefit payments of $10.5 to our non-qualified domestic pension plans.

Many of our foreign plan obligations are unfunded in accordance with local laws. These plans have no assets and instead are funded by us on a pay as you go basis in the form of direct benefit payments. In 2014, we made contributions of $10.7 to our foreign plans that are funded, which included $2.9 of contributions that relate to businesses that have been classified as discontinued operations. In addition, we made direct benefit payments of $3.2 to our foreign plans that are unfunded. In 2015, we expect to make minimum required funding contributions of $2.8, including $2.0 of contributions that relate to businesses that have been classified as discontinued operations, and $2.6 of direct benefit payments to our foreign pension plans.

Estimated Future Benefit Payments — Following is a summary, as of December 31, 2014, of the estimated future benefit payments for our pension plans in each of the next five fiscal years and in the aggregate for five fiscal years thereafter. Benefit payments are paid from plan assets or directly by us for our non-funded plans. The expected benefit payments are estimated based on the same assumptions used at December 31, 2014 to measure our obligations and include benefits attributable to estimated future employee service.

Estimated future benefit payments:
(Domestic and foreign pension plans)

	Domestic Pension Benefits		Foreign Pension Benefits
2015	$	22.0	$	6.4
2016		78.7		7.6
2017		19.5		8.4
2018		20.1		9.3
2019		21.2		10.4
Subsequent five years		125.7		53.8

Obligations and Funded Status — The funded status of our pension plans is dependent upon many factors, including returns on invested assets and the level of market interest rates. The combined unfunded status of our pension plans as of December 31, 2014 has increased since December 31, 2013, primarily as a result of (i) lower discount rates being used to value the domestic and foreign plans and (ii) changes in mortality rate assumptions used to value the domestic plans in 2014 compared to 2013. Our non-funded pension plans account for $210.0 of the current underfunded status, as these plans are not required to be funded. The following tables show the domestic and foreign pension plans' funded status and amounts recognized in our consolidated balance sheets:

	Domestic Pension Plans						Foreign Pension Plans
	2014			2013			2014			2013
Change in projected benefit obligation:
Projected benefit obligation — beginning of year	$	568.8		$	1,345.8		$	335.6		$	323.0
Service cost		7.1			7.6			2.6			2.7
Interest cost		19.9			45.6			13.8			13.4
Employee contributions		—			—			0.1			0.2
Actuarial losses (gains)		59.5			(49.8	)		55.3			9.6
Settlements(1)		(160.4	)		(708.8	)		(127.7	)		—
Plan amendment		—			—			(0.2	)		—
Benefits paid		(39.6	)		(71.6	)		(16.0	)		(14.8	)
Foreign exchange and other		—			—			(23.9	)		1.5

Projected benefit obligation — end of year	$	455.3		$	568.8		$	239.6		$	335.6

(1)

Settlements in 2013 include $663.7 that the U.S. Plan paid Mass Mutual to irrevocably assume the obligation to make future pension payments to approximately 16,000 retirees of the U.S. Plan beginning in the second quarter of 2014 and other lump sum settlements of $45.1 paid to U.S. Plan participants during 2013.

Settlements of the U.S. Plan in 2014 include (i) $165.2 paid to participants who accepted the voluntary lump-sum payment option offered in the first quarter of 2014, net of (ii) $4.8 refunded by Mass Mutual to the U.S. Plan in 2014 in connection with the partial settlement of the U.S. Plan in 2013. Settlements of the U.K. Plan in 2014 include GBP 79.2 ($123.3 equivalent) that the U.K. Plan paid Just Retirement to irrevocably assume the obligation to make future pension payments to approximately 900 retirees of the U.K. Plan beginning in the first quarter of 2015 and other lump-sum settlements of GBP 2.8 ($4.4 equivalent) paid to participants in connection with provisions of the U.K. Plan.

	Domestic Pension Plans						Foreign Pension Plans
	2014			2013			2014			2013
Change in plan assets:
Fair value of plan assets — beginning of year	$	467.3		$	936.8		$	303.1		$	277.0
Actual return on plan assets		28.1			26.7			32.9			19.1
Contributions (employer and employee)		10.3			284.2			10.8			16.8
Settlements		(160.4	)		(708.8	)		(127.7	)		—
Benefits paid		(39.6	)		(71.6	)		(12.8	)		(11.1	)
Foreign exchange and other		—			—			(19.6	)		1.3

Fair value of plan assets — end of year	$	305.7		$	467.3		$	186.7		$	303.1


Funded status at year-end		(149.6	)		(101.5	)		(52.9	)		(32.5	)
Amounts recognized in the consolidated balance sheets consist of:
Other assets	$	3.3		$	38.2		$	15.6		$	36.2
Accrued expenses		(10.3	)		(8.9	)		(2.4	)		(2.7	)
Other long-term liabilities		(142.6	)		(130.8	)		(66.1	)		(66.0	)

Net amount recognized	$	(149.6	)	$	(101.5	)	$	(52.9	)	$	(32.5	)


Amount recognized in accumulated other comprehensive income (pre-tax) consists of — net prior service credits	$	(0.2	)	$	(0.1	)	$	(0.2	)	$	(0.1	)

The following is information about our pension plans that had accumulated benefit obligations in excess of the fair value of their plan assets at December 31, 2014 and 2013:

	Domestic Pension Plans				Foreign Pension Plans
	2014		2013		2014		2013
Projected benefit obligation	$	153.9	$	140.5	$	118.6	$	117.7
Accumulated benefit obligation		151.0		135.9		115.4		114.3
Fair value of plan assets		1.0		0.9		50.1		49.0

The accumulated benefit obligation for all domestic and foreign pension plans was $442.9 and $236.0, respectively, at December 31, 2014 and $556.1 and $331.7, respectively, at December 31, 2013.

Components of Net Periodic Pension Benefit Expense (Income) — Net periodic pension benefit expense (income) for our domestic and foreign pension plans included the following components:

Domestic Pension Plans

	Year ended December 31,
	2014			2013			2012
Service cost	$	7.1		$	7.6		$	9.8
Interest cost		19.9			45.6			54.4
Expected return on plan assets		(19.5	)		(73.2	)		(61.8	)
Amortization of unrecognized prior service credits		—			—			(0.6	)
Recognized net actuarial losses (gains)(1)		50.9			(3.3	)		121.4

Total net periodic pension benefit expense (income)	$	58.4		$	(23.3	)	$	123.2

(1)	Consists primarily of our reported actuarial losses (gains), the difference between actual and expected returns on plan assets, settlement gains (losses) and, to a lesser extent, curtailments.

Foreign Pension Plans

	Year ended December 31,
	2014			2013			2012
Service cost	$	2.6		$	2.7		$	2.8
Interest cost		13.8			13.4			14.6
Expected return on plan assets		(17.6	)		(17.6	)		(16.6	)
Settlement loss(1)		15.0			—			—
Recognized net actuarial losses(2)		25.0			8.2			23.6

Total net periodic pension benefit expense		38.8			6.7			24.4
Less: Net periodic pension income (expense) of discontinued operations		(3.0	)		2.8			(2.1	)

Net periodic pension benefit expense of continuing operations	$	35.8		$	9.5		$	22.3

(1)	Includes the settlement loss recorded in connection with the transfer of the pension obligation for the retirees of the U.K. Plan to Just Retirement.
(2)	Consists of our reported actuarial losses and the difference between actual and expected returns on plan assets.

Assumptions — Actuarial assumptions used in accounting for our domestic and foreign pension plans were as follows:

	Year ended December 31,
	2014			2013			2012
Domestic Pension Plans
Weighted-average actuarial assumptions used in determining net periodic pension expense:
Discount rate		4.54	%		3.85	%		4.69	%
Rate of increase in compensation levels		3.75	%		3.75	%		3.75	%
Expected long-term rate of return on assets		6.76	%		7.25	%		7.25	%
Weighted-average actuarial assumptions used in determining year-end benefit obligations:
Discount rate		3.90	%		4.77	%		3.74	%
Rate of increase in compensation levels		3.75	%		3.75	%		3.75	%
Foreign Pension Plans
Weighted-average actuarial assumptions used in determining net periodic pension expense:
Discount rate		4.23	%		4.35	%		5.10	%
Rate of increase in compensation levels		3.92	%		3.91	%		3.92	%
Expected long-term rate of return on assets		5.78	%		6.45	%		6.56	%
Weighted-average actuarial assumptions used in determining year-end benefit obligations:
Discount rate		3.31	%		4.23	%		4.35	%
Rate of increase in compensation levels		3.87	%		3.92	%		3.91	%

We review the pension assumptions annually. Pension income or expense for the year is determined using assumptions as of the beginning of the year (except for the effects of recognizing changes in the fair value of plan assets and actuarial gains and losses in the fourth quarter of each year), while the funded status is determined using assumptions as of the end of the year. We determined assumptions and established them at the respective balance sheet date using the following principles: (i) the expected long-term rate of return on plan assets is established based on forward looking long-term expectations of asset returns over the expected period to fund participant benefits based on the target investment mix of our plans; (ii) the discount rate is determined by matching the expected projected benefit obligation cash flows for each of the plans to a yield curve that is representative of long-term, high-quality (rated AA or higher) fixed income debt instruments as of the measurement date; and (iii) the rate of increase in compensation levels is established based on our expectations of current and foreseeable future increases in compensation. In addition, we consider advice from independent actuaries.

Multiemployer Benefit Plans

Upon acquisition of Clyde Union, we assumed participation in a multiemployer benefit plan under the terms of a collective-bargaining agreement that covers Clyde Union's domestic union-represented employees. The risks of participating in these multiemployer plans are different from single-employer plans in the following aspects:

•	Assets contributed to the multiemployer plan by us may be used to provide benefits to employees of other participating employers;
•	If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers; and
•	If we choose to stop participating in the multiemployer plan, we may be required to pay an amount based on the underfunded status of the plan, referred to as a withdrawal liability.

We participate in the following multiemployer benefit plan:

Pension Fund

EIN Pension
Plan Number

Pension
Protection
Act Zone
Status — 2014

Financial
Improvement
Plan /
Rehabilitation
Plan Status
Pending

2014
Contributions

2013
Contributions

Surcharge
Imposed

Expiration Date
of Collective
Bargaining
Agreement

IAM

51-6031295-002

Green

0.1

0.4

August 10, 2017

The contributions made by Clyde Union during 2014 and 2013 were not more than 5% of the total contributions made to the IAM National Pension Fund, National Pension Plan ("IAM"). In 2011, the IAM began applying an election for funding relief which allows the IAM to amortize the investment losses incurred for the plan year ended December 31, 2008 over a period of up to 29 years (as opposed to 15 years that would otherwise have been required). Furthermore, in accordance with the election, the current asset valuation method has been updated to recognize the investment losses incurred during the 2008 plan year over a ten-year period as opposed to the previous period of five years.

Postretirement Benefit Plans

Employer Contributions and Future Benefit Payments — Our postretirement medical plans are unfunded and have no plan assets, but are instead funded by us on a pay as you go basis in the form of direct benefit payments or policy premium payments. In 2014, we made benefit payments of $13.7 (net of federal subsidies of $0.9) to our postretirement benefit plans. Following is a summary, as of December 31, 2014, of the estimated future benefit payments and expected federal subsidies for our postretirement plans in each of the next five fiscal years and in the aggregate for five fiscal years thereafter. The expected benefit payments and federal subsidies are estimated based on the same assumptions used at December 31, 2014 to measure our obligations and include benefits attributable to estimated future employee service.

	Postretirement Payments, net of Subsidies		Postretirement Subsidies
2015	$	12.8	$	0.5
2016		12.3		0.5
2017		11.7		0.5
2018		11.1		0.5
2019		10.6		0.5
Subsequent five years		44.4		2.2

Obligations and Funded Status — The following tables show the postretirement plans' funded status and amounts recognized in our consolidated balance sheets:

	Postretirement Benefits
	2014			2013
Change in accumulated postretirement benefit obligation:
Accumulated postretirement benefit obligation — beginning of year	$	131.5		$	148.7
Service cost		0.4			0.5
Interest cost		5.3			4.8
Actuarial losses (gains)		14.2			(7.8	)
Benefits paid		(13.7	)		(14.7	)
Plan amendment		(7.5	)		—

Accumulated postretirement benefit obligation — end of year	$	130.2		$	131.5


Funded status at year-end	$	(130.2	)	$	(131.5	)
Amounts recognized in the consolidated balance sheets consist of:
Accrued expenses	$	(12.6	)	$	(13.7	)
Other long-term liabilities		(117.6	)		(117.8	)

Net amount recognized	$	(130.2	)	$	(131.5	)


Amount recognized in accumulated other comprehensive income (pre-tax) consists of — net prior service credits	$	(7.5	)	$	(0.3	)

The net periodic postretirement benefit expense (income) included the following components:

	Year ended December 31,
	2014			2013			2012
Service cost	$	0.4		$	0.5		$	0.5
Interest cost		5.3			4.8			6.1
Amortization of unrecognized prior service credits		(0.3	)		(1.4	)		(1.4	)
Recognized net actuarial losses (gains)		14.2			(7.8	)		7.3

Net periodic postretirement benefit expense (income)	$	19.6		$	(3.9	)	$	12.5

Actuarial assumptions used in accounting for our domestic postretirement plans were as follows:

	Year ended December 31,
	2014			2013			2012
Assumed health care cost trend rates:
Health care cost trend rate for next year		6.79	%		6.98	%		7.13	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)		5.00	%		5.00	%		5.00	%
Year that the rate reaches the ultimate trend rate		2024			2024			2019
Discount rate used in determining net periodic postretirement benefit expense		4.23	%		3.37	%		4.36	%
Discount rate used in determining year-end postretirement benefit obligation		3.55	%		4.23	%		3.37	%

The accumulated postretirement benefit obligation was determined using the terms and conditions of our various plans, together with relevant actuarial assumptions and health care cost trend rates. It is our policy to review the postretirement assumptions annually. The assumptions are determined by us and are established based on our prior experience and our expectations that future rates will decline. In addition, we consider advice from independent actuaries.

Assumed health care cost trend rates can have a significant effect on the amounts reported for the postretirement benefit plans. Including the effects of recognizing actuarial gains and losses into earnings, a one percentage point increase in the assumed health care cost trend rate would have increased our estimated 2014 postretirement expense by $6.9, and a one percentage point decrease in the assumed health care cost trend rate would have decreased our estimated 2014 postretirement expense by $6.1.

Defined Contribution Retirement Plans

We maintain a defined contribution retirement plan (the "DC Plan") pursuant to Section 401(k) of the U.S. Internal Revenue Code. Under the DC Plan, eligible U.S. employees may voluntarily contribute up to 50% of their compensation into the DC Plan and we match a portion of participating employees' contributions. Our matching contributions are primarily made in newly issued shares of company common stock and are issued at the prevailing market price. The matching contributions vest with the employee immediately upon the date of the match and there are no restrictions on the resale of common stock held by employees.

Under the DC Plan, we contributed 0.167, 0.206 and 0.266 shares of our common stock to employee accounts in 2014, 2013 and 2012, respectively. Compensation expense is recorded based on the market value of shares as the shares are contributed to employee accounts. We recorded $16.4 in 2014, $15.3 in 2013 and $15.5 in 2012 as compensation expense related to the matching contribution.

Certain collectively-bargained employees participate in the DC Plan with company contributions not being made in company common stock, although company common stock is offered as an investment option under these plans.

We also maintain a Supplemental Retirement Savings Plan ("SRSP"), which permits certain members of our senior management and executive groups to defer eligible compensation in excess of the amounts allowed under the DC Plan. We match a portion of participating employees' deferrals to the extent allowable under the SRSP provisions. The matching contributions vest with the participant immediately. Our funding of the participants' deferrals and our matching contributions are held in certain mutual funds (as allowed under the SRSP), as directed by the participant. The fair values of these assets, which totaled $50.5 and $46.2 at December 31, 2014 and 2013, respectively, are based on quoted prices in active markets for identical assets (Level 1). In addition, the assets under the SRSP are available to the general creditors in the event of our bankruptcy and, thus, are maintained on our consolidated balance sheets within other non-current assets, with a corresponding amount in other long-term liabilities for our obligation to the participants. Lastly, these assets are accounted for as trading securities. During 2014, 2013 and 2012, we recorded compensation expense of $0.6, $0.3 and $0.3, respectively, relating to our matching contributions to the SRSP.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References+ Details

Income Taxes

12 Months Ended

Dec. 31, 2014

Income Taxes

Income Taxes

(11) Income Taxes

Income (loss) from continuing operations before income taxes and the (provision for) benefit from income taxes consisted of the following:

	Year ended December 31,
	2014			2013			2012
Income (loss) from continuing operations:
United States	$	474.1		$	212.7		$	(223.6	)
Foreign		120.1			58.9			44.2

	$	594.2		$	271.6		$	(179.4	)


(Provision for) benefit from income taxes:
Current:
United States	$	(261.7	)	$	65.5		$	(1.4	)
Foreign		(34.1	)		(30.0	)		(20.9	)

Total current		(295.8	)		35.5			(22.3	)

Deferred and other:
United States		111.2			(123.9	)		1.2
Foreign		(29.5	)		28.1			35.3

Total deferred and other		81.7			(95.8	)		36.5

Total (provision) benefit	$	(214.1	)	$	(60.3	)	$	14.2

The reconciliation of income tax computed at the U.S. federal statutory tax rate to our effective income tax rate was as follows:

	Year ended December 31,
	2014			2013			2012
Tax at U.S. federal statutory rate		35.0	%		35.0	%		35.0	%
State and local taxes, net of U.S. federal benefit		1.8			1.5			(0.5	)
U.S. credits and exemptions		(1.6	)		(3.9	)		2.8
Foreign earnings taxed at lower rates		(2.3	)		(10.7	)		14.0
Audit settlements with taxing authorities		(2.0	)		0.2			15.4
Adjustments to uncertain tax positions		(2.1	)		0.8			(3.0	)
Changes in valuation allowance		6.2			(0.2	)		(6.2	)
Tax on repatriation of foreign earnings		2.7			(0.5	)		(8.4	)
Goodwill impairment and basis adjustments		(1.0	)		—			(41.8	)
Other		(0.7	)		—			0.6

		36.0	%		22.2	%		7.9	%

Significant components of our deferred tax assets and liabilities were as follows:

	As of December 31,
	2014			2013
Deferred tax assets:
NOL and credit carryforwards	$	266.2		$	229.8
Pension, other postretirement and postemployment benefits		116.9			95.5
Payroll and compensation		67.5			63.5
Legal, environmental and self-insurance accruals		45.8			42.3
Working capital accruals		34.7			26.8
Other		47.5			45.1

Total deferred tax assets		578.6			503.0
Valuation allowance		(152.9	)		(149.3	)

Net deferred tax assets		425.7			353.7

Deferred tax liabilities:
Intangible assets recorded in acquisitions		277.3			285.9
Basis difference in affiliates		184.2			152.1
Accelerated depreciation		64.8			69.3
Other		36.5			25.8

Total deferred tax liabilities		562.8			533.1

	$	(137.1	)	$	(179.4	)

General Matters

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. We periodically assess deferred tax assets to determine if they are likely to be realized and the adequacy of deferred tax liabilities, incorporating the results of local, state, federal and foreign tax audits in our estimates and judgments.

At December 31, 2014, we had the following tax loss carryforwards available: state tax loss carryforwards of approximately $362.0 and tax losses of various foreign jurisdictions of approximately $874.8. We also had federal and state tax credit carryforwards of $16.9. Of these amounts, approximately $3.9 expire in 2015 and $426.6 expire at various times between 2015 and 2034. The remaining carryforwards have no expiration date.

Realization of deferred tax assets, including those associated with net operating loss and credit carryforwards, is dependent upon generating sufficient taxable income in the appropriate tax jurisdiction. We believe that it is more likely than not that we may not realize the benefit of certain of these deferred tax assets and, accordingly, have established a valuation allowance against certain of these deferred tax assets. Although realization is not assured for the remaining deferred tax assets, we believe it is more likely than not that the deferred tax assets will be realized through future taxable earnings or tax planning strategies. However, deferred tax assets could be reduced in the near term if our estimates of taxable income are significantly reduced or tax planning strategies are no longer viable. The valuation allowance increased by $3.6 in 2014 and increased by $21.2 in 2013. Of the net increase in 2014, $36.5 was recognized as an increase in tax expense from continuing operations. Of the net increase in 2013, $0.5 was recognized as a decrease in tax expense from continuing operations.

The amount of income tax that we pay annually is dependent on various factors, including the timing of certain deductions. These deductions can vary from year to year, and, consequently, the amount of income taxes paid in future years will vary from the amounts paid in prior years.

Undistributed Foreign Earnings

In general, it is our practice and intention to reinvest the earnings of our non-U.S. subsidiaries in those operations. However, in the fourth quarter of 2014, our Board of Directors approved a plan for a tax-free spin-off of our Flow Technology reportable segment and our Hydraulic Technologies business and the creation of a new stand-alone, publicly-traded company. In connection the planned spin-off transaction, we elected to repatriate certain earnings of our non-U.S. subsidiaries during the quarter and provided for U.S. and foreign withholding taxes of $18.6 on such foreign dividends and undistributed earnings that were no longer considered to be indefinitely reinvested.

As of December 31, 2014, we had not recorded a provision for U.S. or foreign withholding taxes on approximately $1,265.0 of the excess of the amount for financial reporting over the tax basis of investments in foreign subsidiaries that are essentially permanent in duration. Generally, such amounts become subject to U.S. taxation upon the remittance of dividends and under certain other circumstances. It is not practicable to estimate the amount of a deferred tax liability related to the undistributed earnings of these foreign subsidiaries, in the event that these earnings are no longer considered to be indefinitely reinvested, due to the hypothetical nature of the calculation.

There are discrete amounts of foreign earnings (approximately $278.0), primarily related to the gain on sale of our Service Solutions business, where we do plan to repatriate the earnings in the future. During 2012, we provided $100.8 of U.S. and foreign withholding taxes on such earnings, with $91.8 of such amount recorded to discontinued operations.

Unrecognized Tax Benefits

As of December 31, 2014, we had gross unrecognized tax benefits of $63.3 (net unrecognized tax benefits of $33.9), of which $33.3, if recognized, would impact our effective tax rate from continuing operations. Similarly, at December 31, 2013 and 2012, we had gross unrecognized tax benefits of $128.4 (net unrecognized tax benefits of $72.9) and $108.4 (net unrecognized tax benefits of $72.5), respectively.

We classify interest and penalties related to unrecognized tax benefits as a component of our income tax provision. As of December 31, 2014, gross accrued interest totaled $5.9 (net accrued interest of $4.9), while the related amounts as of December 31, 2013 and 2012 were $12.4 (net accrued interest of $8.6) and $12.8 (net accrued interest of $8.6), respectively. Our income tax (provision) benefit for the years ended December 31, 2014, 2013 and 2012 included gross interest income of $0.9, $0.2 and $2.9, respectively, resulting from a reduction in our liability for uncertain tax positions. As of December 31, 2014, we had no accrual for penalties included in our unrecognized tax benefits, while the related amount as of December 31, 2013 and 2012 was $7.1. Our income tax (provision) benefit for the year ended December 31, 2014 included a benefit of $7.1 for the reversal of penalties previously accrued, resulting primarily from audit settlements during the year. The years ended December 31, 2013 and 2012 included penalties of $0.0 and $1.5, respectively.

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 $10.0 to $15.0. The previously unrecognized tax benefits relate to a variety of tax matters relating to deemed income inclusions, transfer pricing and various state matters.

The aggregate changes in the balance of unrecognized tax benefits for the years ended December 31, 2014, 2013 and 2012 were as follows:

	Year ended December 31,
	2014			2013			2012
Unrecognized tax benefit — opening balance	$	128.4		$	108.4		$	120.4
Gross increases — tax positions in prior period		3.7			0.5			20.6
Gross decreases — tax positions in prior period		(36.9	)		(2.3	)		(33.9	)
Gross increases — tax positions in current period		11.7			28.4			11.2
Settlements		(28.2	)		(1.1	)		(7.1	)
Lapse of statute of limitations		(14.7	)		(5.5	)		(2.7	)
Change due to foreign currency exchange rates		(0.7	)		—			(0.1	)

Unrecognized tax benefit — ending balance	$	63.3		$	128.4		$	108.4

Other Tax Matters

During 2014, our income tax provision was impacted by the U.S. income taxes provided in connection with the $491.2 gain on the sale of our interest in EGS and by the following income tax charges: (i) $19.6 related to net increases in valuation allowances recorded against certain foreign deferred income tax assets, including $5.1 for which the related tax benefits are no longer expected to be realized due to legal entity reorganization actions that are required in connection with the planned spin-off transaction previously discussed, (ii) $18.6 related to the repatriation of certain earnings of our non-U.S. subsidiaries and (iii) $6.0 of foreign income taxes related to reorganization actions undertaken to facilitate the planned spin-off transaction. The impact of these items was partially offset by the following income tax benefits: (i) $28.6 of tax benefits related to various audit settlements, statute expirations and other adjustments to liabilities for uncertain tax positions, with the most notable being the closure of our U.S. tax examination for the years 2008 through 2011, and (ii) $6.4 of tax benefits related to a loss on an investment in a foreign subsidiary.

During 2013, our income tax provision was impacted by the following income tax benefits: (i) $9.5 related to net reductions in valuation allowances recorded against certain foreign deferred income tax assets; (ii) $6.5 related to various audit settlements and statute expirations; and (iii) $4.1 associated with the Research and Experimentation Credit generated in 2012.

During 2012, our income tax benefit was impacted by: (i) an income tax benefit of $26.3 associated with the $281.4 impairment charge recorded for our Cooling reporting unit, as the majority of the goodwill for the Cooling reporting unit has no basis for income tax purposes; (ii) taxes provided of $15.4 on foreign dividends and undistributed earnings that were no longer considered to be indefinitely reinvested; (iii) incremental tax expense of $6.1 associated with the deconsolidation of our dry cooling business in China, as the goodwill allocated to the transaction was not deductible for income tax purposes; and (iv) valuation allowances that were recorded against deferred income tax assets during the year of $5.4. The unfavorable impact of these items was offset partially by income tax benefits of $22.3 associated with audit closures, settlements, statute expirations, and other changes in the accrual for uncertain tax positions, with the most notable being the closure of our German tax examination for the years 2005 through 2009.

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 consolidated balance sheets based on the expectation as to the timing of when the matters will be resolved. As events change and resolutions occur, these accruals are adjusted, such as in the case of audit settlements with taxing authorities.

We have filed our federal income tax returns for the 2012 and 2013 tax years and those returns are subject to examination. The IRS is currently examining the 2012 tax return year. With regard to open tax years, we believe any contingencies are adequately provided for.

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 appeal or litigation. We believe any uncertain tax positions related to these examinations have been adequately provided for.

We have various foreign income tax returns under examination. The most significant of these are in Denmark for the 2006, 2007, 2009, and 2010 tax years and South Africa for the 2005 to 2010 tax years. We believe that any uncertain tax positions related to these examinations have been adequately provided for.

An unfavorable resolution of 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, the timing of the ultimate resolution and any payments that may be required for the above matters cannot be determined at this time.

- 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+ Details

Indebtedness

12 Months Ended

Dec. 31, 2014

Indebtedness

Indebtedness

(12) Indebtedness

The following summarizes our debt activity (both current and non-current) for the year ended December 31, 2014:

	December 31, 2013		Borrowings		Repayments			Other(4)		December 31, 2014
Domestic revolving loan facility	$	—	$	472.0	$	(339.0	)	$	—	$	133.0
Term loan		475.0		100.0		—			—		575.0
6.875% senior notes, due in August 2017		600.0		—		—			—		600.0
7.625% senior notes(1)		500.0		—		(500.0	)		—		—
Trade receivables financing arrangement(2)		—		91.0		(81.0	)		—		10.0
Other indebtedness(3)		100.6		12.7		(64.7	)		3.1		51.7

Total debt		1,675.6	$	675.7	$	(984.7	)	$	3.1		1,369.7


Less: short-term debt		26.9									181.1
Less: current maturities of long-term debt		558.7									30.8

Total long-term debt	$	1,090.0								$	1,157.8

(1)	As noted below, we completed the redemption of all the 7.625% senior notes during the first quarter of 2014.
(2)	Under this arrangement, we can borrow, on a continuous basis, up to $80.0, as available. At December 31, 2014, we had $70.0 of available borrowing capacity under this facility after giving effect to outstanding borrowings of $10.0.
(3)	Primarily included capital lease obligations of $13.6 and $73.0 and balances under purchase card programs of $32.1 and $25.4 at December 31, 2014 and 2013, respectively. During 2014, we purchased our corporate headquarters facility for cash consideration of $60.8, resulting in the extinguishment of the related capital lease obligation.
(4)	"Other" primarily included debt assumed and foreign currency translation on any debt instruments denominated in currencies other than the U.S. dollar.

Maturities of long-term debt payable during each of the five years subsequent to December 31, 2014 are $30.8, $30.0, $629.7, $493.8 and $0.7, respectively.

Senior Credit Facilities

Our senior credit facilities provide for committed senior secured financing in an aggregate amount of $2,075.0, consisting of the following (each with a final maturity of December 23, 2018):

•	A term loan facility of $575.0;
•	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, GBP and other currencies, in an aggregate principal amount up to the equivalent of $200.0;
•	A participation foreign credit instrument facility, available for performance letters of credit and guarantees, in an aggregate principal amount up to the equivalent of $800.0; and
•	A bilateral foreign credit instrument facility, available for performance letters of credit and guarantees, in an aggregate principal amount up to the equivalent of $200.0.

The term loan of $575.0 (which includes $100.0 drawn under the facility in the second quarter of 2014) is repayable in quarterly installments of 5.0% annually, beginning with our second fiscal quarter of 2015, with the remaining balance repayable in full on December 23, 2018.

Our 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 cash 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 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) as of the last day of any fiscal quarter to consolidated adjusted EBITDA for the four quarters ended on such date) 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).

Our 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 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 December 23, 2013 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 December 31, 2014, we had $313.2 of available borrowing capacity under our revolving credit facilities after giving effect to borrowings under the domestic revolving loan facility of $133.0 and $53.8 reserved for outstanding letters of credit. In addition, at December 31, 2014, we had $304.7 of available issuance capacity under our foreign credit instrument facilities after giving effect to $695.3 reserved for outstanding letters of credit.

We also may seek additional commitments, without the consent from the existing lenders, 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 not to exceed (x) $1,000.0 or (y) such greater amount that would not cause our Consolidated Senior Secured Leverage Ratio to exceed 2.75 to 1.00.

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 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 credit instruments, including bank undertakings to support primarily commercial contract performance.

The interest rates applicable to loans under our 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 plus 1.0%) or (ii) a reserve-adjusted LIBOR (as defined in the senior credit facilities) for dollars (Eurodollars) plus, in each case, an applicable margin percentage, which varies based on our Consolidated Leverage Ratio. We may elect interest periods of one, two, three or six months for Eurodollar borrowings. The per annum fees charged and the interest rate margins applicable to Eurodollar and alternate base rate loans are 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 Loans			ABR Loans
Greater than or equal to 3.00 to 1.00		0.35	%		0.35	%		2.00	%		0.35	%		1.25	%		2.00	%		1.00	%
Between 2.00 to 1.00 and 3.00 to 1.00		0.30	%		0.30	%		1.75	%		0.30	%		1.00	%		1.75	%		0.75	%
Between 1.50 to 1.00 and 2.00 to 1.00		0.275	%		0.275	%		1.50	%		0.275	%		0.875	%		1.50	%		0.50	%
Between 1.00 to 1.00 and 1.50 to 1.00		0.25	%		0.25	%		1.375	%		0.25	%		0.80	%		1.375	%		0.375	%
Less than 1.00 to 1.00		0.225	%		0.225	%		1.25	%		0.225	%		0.75	%		1.25	%		0.25	%

The weighted-average interest rate of outstanding borrowings under our senior credit facilities was approximately 1.6% at December 31, 2014.

Bilateral foreign credit fees and commitments are as specified above, 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 0.25% per annum, respectively.

Our 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, first, any amounts outstanding under the term loans and any other incremental term loans that we may have outstanding in the future, in the manner and order selected by us, and second, after the term loans and any such incremental term loans have been repaid in full, 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 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 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 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 less than "Ba2" (or not rated) by Moody's and less than "BB" (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 assets. If our corporate credit rating is "Baa3" or better by Moody's or "BBB–" or better by S&P and no defaults would exist, then all collateral security will be released and the indebtedness under our senior credit facilities will be unsecured.

At December 31, 2014, we were in compliance with all covenants of our senior credit facilities.

Senior Notes

In August 2010, we issued, in a private placement, $600.0 aggregate principal amount of 6.875% senior unsecured notes that mature in August 2017. We used the proceeds from the offering to repay the remaining balance under the term loan of our then-existing senior credit facilities of $562.5, to pay $26.9 of termination costs (including $2.6 of accrued interest) for Swaps related to the then-existing term loan, and the remainder to pay the majority of the financing costs incurred in connection with the offering. The interest payment dates for these notes are March 1 and September 1 of each year. The notes are redeemable, in whole or in part, at any time prior to maturity at a price equal to 100% of the principal amount thereof plus an applicable premium, plus accrued and unpaid interest. If we experience certain types of change of control transactions, we must offer to repurchase the notes at 101% of the aggregate principal amount of the notes repurchased, plus accrued and unpaid interest. These notes are unsecured and rank equally with all our existing and future unsubordinated unsecured senior indebtedness, but are effectively junior to our senior credit facilities. The indenture governing these notes contains covenants that, among other things, limit our ability to incur liens, enter into sale and leaseback transactions and consummate some mergers. During the third quarter of 2011, these senior notes became freely tradable. Payment of the principal, premium, if any, and interest on these notes is guaranteed on a senior unsecured basis by our domestic subsidiaries. The likelihood of having to make payments under the guarantee is considered remote. At December 31, 2014, we were in compliance with all covenants of our 6.875% senior notes. As indicated in Note 4, our Board of Directors approved a plan for a tax-free spin-off of our Flow Technology reportable segment and our Hydraulic Technologies business and the creation of a new stand-alone, publicly-traded company. In connection with the planned spin-off transaction, we obtained, in December 2014, consents from the holders of our 6.875% senior notes allowing these senior notes to become obligations of the new stand-alone, publicly-traded company if, and when, the spin-off transaction is completed. In obtaining these consents, we incurred fees and related transaction costs of $5.0, which have been recorded to "Other income (expense), net" in the accompanying consolidated statement of operations for 2014.

In December 2007, we issued, in a private placement, $500.0 aggregate principal amount of 7.625% senior unsecured notes that were to mature in December 2014. We used the net proceeds from the offering for general corporate purposes, including the financing of our acquisition of APV. The notes were redeemable, in whole, or in part, at any time prior to maturity at a price equal to 100% of the principal amount thereof plus a premium, plus accrued and unpaid interest. On February 11, 2014, we completed the redemption of all the 7.625% senior notes for a total redemption price of $530.6. As a result of the redemption, we recorded a charge of $32.5 to "Loss on early extinguishment of debt" during 2014, which related to premiums paid to redeem the senior notes of $30.6, the write-off of unamortized deferred financing fees of $1.0, and other costs associated with the extinguishment of the senior notes of $0.9.

Other Borrowings and Financing Activities

Certain of our businesses purchase goods and services under purchase card programs allowing for payment beyond their normal payment terms. As of December 31, 2014 and 2013, the participating businesses had $32.1 and $25.4, respectively, outstanding under these arrangements. As these arrangements extend the payment of our businesses' payables beyond their normal payment terms through third-party lending institutions, we have classified these amounts as short-term debt.

We are party to a trade receivables financing agreement, whereby we can borrow, on a continuous basis, up to $80.0. Availability of funds may fluctuate over time given changes in eligible receivable balances, but will not exceed the $80.0 program limit. The facility contains representations, warranties, covenants and indemnities customary for facilities of this type. The facility does not contain any covenants that we view as materially constraining to the activities of our business.

At December 31, 2014, we had $5.7 of letters of credit outstanding under separate arrangements in China and India.

- 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

12 Months Ended

Dec. 31, 2014

Derivative Financial Instruments

Derivative Financial Instruments

(13) Derivative Financial Instruments

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 the impact of changes as a result of currency fluctuations. Our principal currency exposures relate to the Euro, South African Rand, CNY and GBP.

From time to time, we enter into 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 ("FX forward contracts"). In addition, some of our contracts contain currency forward embedded derivatives ("FX embedded derivatives"), because 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. 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 AOCI. These changes in fair value are reclassified into earnings as a component of revenues or cost of products 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 is recorded as a component of "Other income (expense), net" in the period in which the transaction is no longer considered probable of occurring. To the extent 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 in which it occurs.

We had FX forward contracts with an aggregate notional amount of $298.0 and $191.3 outstanding as of December 31, 2014 and 2013, respectively, with substantially all such contracts scheduled to mature in 2015. We also had FX embedded derivatives with an aggregate notional amount of $246.0 and $145.8 at December 31, 2014 and 2013, respectively, with scheduled maturities of $151.7, $84.0 and $10.3 in 2015, 2016 and years thereafter, respectively. The unrealized losses, net of taxes, recorded in AOCI related to FX forward contracts were $0.3 and $1.0 as of December 31, 2014 and 2013, respectively. We anticipate reclassifying $0.2 of the unrealized loss as of December 31, 2014 to income over the next 12 months, with the remaining $0.1 in 2016. The net gain (loss) recorded in "Other income (expense), net" related to FX forward contracts and FX embedded derivatives totaled $(2.4) in 2014, $0.5 in 2013 and $(0.2) in 2012.

Commodity Contracts

From time to time, we enter into commodity contracts to manage the exposure on forecasted purchases of commodity raw materials. At December 31, 2014 and 2013, the outstanding notional amount of commodity contracts was 4.2 and 3.4 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 AOCI associated with our commodity contracts to cost of products sold when the forecasted transaction impacts earnings. As of December 31, 2014 and 2013, the fair value of these contracts was $1.4 (current liabilities) and $0.4 (current assets), respectively. The unrealized gain (loss), net of taxes, recorded in AOCI was $(1.0) and $0.2 as of December 31, 2014 and 2013, respectively. We anticipate reclassifying the unrealized loss as of December 31, 2014 to income over the next 12 months.

The following summarizes the gross and net fair values of our FX forward and commodity contracts by counterparty at December 31, 2014 and 2013:

	December 31, 2014								December 31, 2013
	Gross Assets		Gross Liabilities			Net Assets / Liabilities			Gross Assets		Gross Liabilities			Net Assets / Liabilities
FX Forward Contracts:
Counterparty A	$	—	$	(0.1	)	$	(0.1	)	$	0.7	$	(0.1	)	$	0.6
Counterparty B		0.3		(3.5	)		(3.2	)		0.1		(0.4	)		(0.3	)
Aggregate of other counterparties		0.5		(1.8	)		(1.3	)		0.3		—			0.3

Totals(1)	$	0.8	$	(5.4	)	$	(4.6	)	$	1.1	$	(0.5	)	$	0.6


Commodity Contracts:
Counterparty A(2)	$	—	$	(1.4	)	$	(1.4	)	$	0.4	$	—		$	0.4

(1)

We enter into arrangements designed to provide the right of setoff in the event of counterparty default or insolvency, and have elected to offset the fair values of our qualifying financial instruments in our consolidated balance sheets. Amounts presented in our consolidated balance sheets are as follows:

		December 31, 2014			December 31, 2013
Designated as hedging instruments:
Other current assets		$	—		$	0.3
Accrued expenses			(0.1	)		—
Other long-term liabilities			(0.1	)		—

			(0.2	)		0.3

Not designated as hedging instruments:
Other current assets			—			0.6
Accrued expenses			(4.4	)		(0.3	)

			(4.4	)		0.3

Net fair value of FX forward contracts		$	(4.6	)	$	0.6


(2)	Related contracts are designated as hedging instruments. Net amounts at December 31, 2014 and 2013 are recorded in "Accrued expenses" and "Other current assets," respectively.

The following summarizes the fair value of our FX embedded derivative instruments, which are not designated as hedging instruments, and the related balance sheet classification as of December 31, 2014 and 2013:

Balance Sheet Classification	December 31, 2014			December 31, 2013
Other current assets	$	5.1		$	0.7
Other assets		1.2			—
Accrued expenses		(4.7	)		(6.5	)
Other long-term liabilities		(0.9	)		(2.1	)

	$	0.7		$	(7.9	)

The following summarizes the pre-tax gain (loss) recognized in AOCI resulting from derivative financial instruments designated as cash flow hedging relationships for the years ended December 31, 2014, 2013 and 2012:

	Year ended December 31,
	2014			2013			2012
FX forward contracts	$	0.4		$	(0.3	)	$	(0.4	)
Commodity contracts		(2.5	)		(1.2	)		0.4

	$	(2.1	)	$	(1.5	)	$	—

The following summarizes the pre-tax gain (loss) related to derivative financial instruments designated as cash flow hedging relationships reclassified from AOCI to income through "Revenues" for FX forward contracts and "Cost of products sold" for commodity contracts for the years ended December 31, 2014, 2013 and 2012:

	Year ended December 31,
	2014			2013(1)			2012(1)
FX forward contracts	$	(0.8	)	$	(4.0	)	$	(0.7	)
Commodity contracts		(0.7	)		(1.3	)		(0.8	)

	$	(1.5	)	$	(5.3	)	$	(1.5	)

(1)	For the years ended December 31, 2013 and 2012, losses of $0.2 and $0.4, respectively, were recognized in "Other income (expense), net" relating to derivative ineffectiveness and amounts excluded from effectiveness testing.

The following summarizes the gain (loss) recognized in "Other income (expense), net" for the years ended December 31, 2014, 2013 and 2012 related to derivative financial instruments not designated as cash flow hedging relationships:

	Year ended December 31,
	2014			2013		2012
FX forward contracts	$	(7.8	)	$	0.1	$	0.6
FX embedded derivatives		5.4			0.6		(0.4	)

	$	(2.4	)	$	0.7	$	0.2

Concentrations of Credit Risk

Financial instruments that potentially subject us to significant concentrations of credit risk consist of cash and equivalents, trade accounts receivable, and foreign currency forward and commodity contracts. These financial instruments, other than trade accounts receivable, are placed with high-quality financial institutions throughout the world. We periodically evaluate the credit standing of these financial institutions.

We maintain cash levels in bank accounts that, at times, may exceed federally-insured limits. We have not experienced, and believe we are not exposed to significant risk of, loss in these accounts.

We have credit loss exposure in the event of nonperformance by counterparties to the above financial instruments, but have no other off-balance-sheet credit risk of accounting loss. We anticipate, however, that counterparties will be able to fully satisfy their obligations under the contracts. We do not obtain collateral or other security to support financial instruments subject to credit risk, but we do monitor the credit standing of counterparties.

Concentrations of credit risk arising from trade accounts receivable are due to selling to customers in a particular industry. We mitigate our credit risks by performing ongoing credit evaluations of our customers' financial conditions and obtaining collateral, advance payments, or other security when appropriate. No one customer, or group of customers that to our knowledge are under common control, accounted for more than 10% of our revenues for any period presented.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

Commitments, Contingent Liabilities and Other Matters

12 Months Ended

Dec. 31, 2014

Commitments, Contingent Liabilities and Other Matters

Commitments, Contingent Liabilities and Other Matters

(14) Commitments, Contingent Liabilities and Other Matters

Leases

We lease certain manufacturing facilities, offices, sales and service locations, machinery and equipment, vehicles and office equipment under various leasing programs accounted for as operating and capital leases, some of which include scheduled rent increases stated in the lease agreement. We do not have any significant leases that require rental payments based on contingent events nor have we received any significant lease incentive payments.

Operating Leases

The future minimum rental payments under operating leases with remaining non-cancelable terms in excess of one year are:

Year Ending December 31,
2015	$	36.5
2016		24.7
2017		16.9
2018		12.1
2019		9.0
Thereafter		29.7

Total minimum payments	$	128.9

Total operating lease expense, inclusive of rent based on scheduled rent increases and rent holidays recognized on a straight-line basis, was $56.5 in 2014, $58.3 in 2013 and $60.8 in 2012.

Capital Leases

Future minimum lease payments under capital lease obligations are:

Year Ending December 31,
2015	$	3.4
2016		1.8
2017		1.5
2018		5.3
2019		0.8
Thereafter		4.2

Total minimum payments		17.0
Less: interest		(3.4	)

Capital lease obligations as of December 31, 2014		13.6
Less: current maturities as of December 31, 2014		(2.0	)

Long-term portion as of December 31, 2014	$	11.6

Our current and long-term capital lease obligations as of December 31, 2013 were $58.7 and $14.3, respectively.

Assets held through capital lease agreements at December 31, 2014 and 2013 comprise the following:

	December 31,
	2014			2013
Buildings	$	17.4		$	70.3
Machinery and equipment		12.5			12.7
Land		—			6.0
Other		3.3			3.6

Total		33.2			92.6
Less: accumulated depreciation		(11.5	)		(11.4	)

Net book value	$	21.7		$	81.2

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. Also, 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. We believe, however, 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 effect, individually or in the aggregate, on our financial position, results of operations and cash flows. These accruals, which are determined in accordance with the Contingencies Topic of the Codification, totaled $619.6 (including $575.4 for risk management matters) and $610.1 (including $565.0 for risk management matters) at December 31, 2014 and 2013, respectively. Of these amounts, $571.5 and $561.8 are included in "Other long-term liabilities" within our consolidated balance sheets at December 31, 2014 and 2013, respectively, with the remainder included in "Accrued expenses." It is reasonably possible that our ultimate liability for these items could exceed the amount of the recorded accruals; however, we believe the estimated amount of any potential additional liability would not have a material effect, individually or in the aggregate, on our financial position, results of operations or cash flows.

We had insurance recovery assets related to risk management matters of $503.7 and $496.7 at December 31, 2014 and 2013, respectively, included in "Other assets" within our consolidated balance sheets.

Litigation Matters

As discussed in Note 5, the business environment surrounding our large power projects in South Africa has become increasingly difficult, and the projects have experienced significant delays. In addition, the projects involve a complex set of contractual relationships among the end customer, the prime contractors, various subcontractors (including us and our subcontractors), and various suppliers. We are currently involved in a number of claim disputes with the prime contractors (our immediate customers) and with certain of our subcontractors relating to delay, additional costs, and performance issues. We believe that, in the accompanying consolidated financial statements, we have adequately provided for those claims against us where our liability is probable and reasonably estimable. Although it is reasonably possible that our liability for certain of these claims could exceed the amount of our recorded accruals, we do not believe that the estimated amount of any potential additional liability would have a material effect, individually or in the aggregate, on our consolidated financial statements.

We are subject to other legal matters that arise in the normal course of business. We believe these matters are either without merit or of a kind that should not have a material effect, individually or in the aggregate, 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 effect, individually or in the aggregate, on our business, financial condition, and results of operations or cash flows. As of December 31, 2014, we had liabilities for site investigation and/or remediation at 91 sites (94 sites at December 31, 2013) 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 revise an estimate once it becomes probable and the amount of change can be reasonably estimated. We generally do not discount our environmental accruals and do not reduce them by anticipated insurance recoveries. We 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, as of December 31, 2014, we have been notified that we are potentially responsible and have received other notices of potential liability pursuant to various environmental laws at 28 sites (23 sites at December 31, 2013) at which the liability has not been settled, of which 9 sites (6 sites at December 31, 2013) 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 that our aggregate liability, if any, related to these sites is not material to our consolidated financial statements. 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.

In our opinion, after considering accruals established for such purposes, the cost of remedial actions for compliance with the present laws and regulations governing the protection of the environment is not expected to have a material impact, individually or in the aggregate, on our financial position, 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 statements of operations.

We enter into consortium arrangements for certain projects within our Thermal Equipment and Services reportable 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 responsibility for its 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 December 31, 2014, our share of the aggregate contract value on open consortium arrangements was $65.2 (of which approximately 87% had been recognized as revenue), and the aggregate contract value on open consortium arrangements was $291.1. As of December 31, 2013, our share of the aggregate contract value on open consortium arrangements was $139.3 (of which approximately 87% had been recognized as revenue), and the aggregate contract value on open consortium arrangements was $433.8. At December 31, 2014 and 2013, we recorded liabilities of $0.7 and $1.7, respectively, representing the estimated fair value of our potential obligation under the joint and several liability provisions associated with the consortium arrangements.

Executive Agreements

The Board of Directors has approved employment agreements for six of our executives. These agreements have rolling terms of either one or two years and specify the executive's current compensation, benefits and perquisites, and other employment rights and responsibilities. In addition, one executive officer has an outstanding non-interest bearing 20-year relocation home loan totaling $1.5 granted in connection with the 2001 move of our corporate headquarters. In the event of the death or permanent disability of the employee or a change in control of SPX, we will forgive the note and pay the employee or his estate an amount equal to the employee's tax liability as a result of the loan forgiveness. All ten of our executives have change-of-control agreements, covering each executive's entitlements upon a change in control of the company.

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

Shareholders' Equity and Stock-Based Compensation

12 Months Ended

Dec. 31, 2014

Shareholders' Equity and Stock-Based Compensation

Shareholders' Equity and Stock-Based Compensation

(15) Shareholders' Equity and Stock-Based Compensation

Income Per Share

The following table sets forth the computations of the components used for the calculation of basic and diluted income per share:

	Year ended December 31,
	2014			2013		2012
Numerator:
Income (loss) from continuing operations	$	380.1		$	211.3	$	(165.2	)
Less: Net income (loss) attributable to noncontrolling interests		(9.5	)		2.2		3.0

Income (loss) from continuing operations attributable to SPX Corporation common shareholders for calculating basic and diluted income per share	$	389.6		$	209.1	$	(168.2	)


Income from discontinued operations	$	8.3		$	1.3	$	348.4
Less: Net income (loss) attributable to noncontrolling interest		—			0.2		(0.2	)

Income from discontinued operations attributable to SPX Corporation common shareholders for calculating basic and diluted income per share	$	8.3		$	1.1	$	348.6


Denominator:
Weighted-average number of common shares used in basic income per share		42.400			45.384		50.031
Dilutive securities — Employee stock options, restricted stock shares and restricted stock units		0.631			0.622		—

Weighted-average number of common shares and dilutive securities used in diluted income per share		43.031			46.006		50.031

There were no stock options outstanding during the year ended December 31, 2014, and all stock options outstanding were included in the computation of diluted income per share for the year ended December 31, 2013. The total number of stock options 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 0.003 for the year ended December 31, 2012. The total number of unvested restricted stock shares and restricted stock units that were not included in the computation of diluted income per share because required market thresholds for vesting (as discussed below) were not met was 0.226, 0.647 and 1.031 at December 31, 2014, 2013 and 2012, respectively.

Common Stock and Treasury Stock

At December 31, 2014, we had 200.0 authorized shares of common stock (par value $10.00). Common shares issued, treasury shares and shares outstanding are summarized in the table below.

	Common Stock Issued		Treasury Stock			Shares Outstanding
Balance at December 31, 2011		98.702		(47.629	)		51.073
Stock options exercised		0.174		—			0.174
Share repurchases		—		(3.606	)		(3.606	)
Restricted stock shares and restricted stock units		0.311		0.085			0.396
Other		0.267		—			0.267

Balance at December 31, 2012		99.454		(51.150	)		48.304
Stock options exercised		0.008		—			0.008
Share repurchases		—		(3.493	)		(3.493	)
Restricted stock shares and restricted stock units		0.133		0.123			0.256
Other		0.206		—			0.206

Balance at December 31, 2013		99.801		(54.520	)		45.281
Share repurchases		—		(4.852	)		(4.852	)
Restricted stock shares and restricted stock units		0.096		0.166			0.262
Other		0.167		—			0.167

Balance at December 31, 2014		100.064		(59.206	)		40.858

Stock-Based Compensation

Under the 2002 Stock Compensation Plan, as amended in 2006, 2011 and 2012, up to 2.305 shares of our common stock were available for grant at December 31, 2014. 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 shares. Each share of restricted stock and restricted stock unit granted reduces availability by two shares.

During the years ended December 31, 2014, 2013 and 2012, we classified excess tax benefits from stock-based compensation of $9.7, $6.3 and $3.8, 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 the exercise of employee stock options and other" within our consolidated statements of cash flows.

Restricted stock shares 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 a period of time, generally one or three years. In some instances, such as death, disability, or retirement, stock may vest concurrently with or following an employee's termination. A substantial portion of the restricted stock shares and restricted stock unit awards vest based on performance thresholds, while the remaining portion vest based on the passage of time since grant date.

Eligible employees received target performance awards in 2014 and 2013 in which the employee can earn between 25% and 125% of the target performance award in the event the award meets the required vesting criteria. Vesting for the 2014 and 2013 target performance awards is based on SPX shareholder return versus the S&P Composite 1500 Industrials Index over three-year periods ending December 31, 2016 and December 31, 2015, respectively.

Each eligible non-officer employee also received awards in 2014, 2013 and 2012 that vest ratably over three years, subject only to the passage of time. Officers received awards in 2014 and 2013 that vest ratably over three years, subject to an internal performance metric.

Vesting for the 2012 target performance awards was based on the SPX shareholder return versus the S&P 500 Index. On each vesting date, we compared the SPX shareholder return to the performance of the S&P 500 Index for the prior year and for the cumulative period since the date of the grant. If SPX outperformed the S&P 500 Index for the prior year, the one-third portion of the grant associated with that year vested. If SPX outperformed the S&P 500 Index for the cumulative period, any unvested portion of the grant that was subject to vesting on or prior to the vesting date vested.

We grant restricted stock shares to non-employee directors under the 2006 Non-Employee Directors' Stock Incentive Plan (the "Directors' Plan") and the 2002 Stock Compensation Plan. Under the Directors' Plan, up to 0.022 shares of our common stock were available for grant at December 31, 2014. The 2014 and 2013 restricted stock grants to non-employee directors generally vest over a one-year vesting period.

The 2012 restricted stock grants to non-employee directors had a three-year vesting period based on SPX shareholder return versus the S&P 500 Index, and were subject to the same company performance thresholds as the employee 2012 awards described above.

Restricted stock shares and restricted stock units that do not vest within the applicable vesting period are forfeited.

Stock options may be granted to key employees in the form of incentive stock options or nonqualified stock options. The option price per share may be no less than the fair market value of our common stock at the close of business the 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. As of December 31, 2014, we had not granted options to any of our employees since 2004, and there were no options outstanding as of December 31, 2014 and 2013.

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. There was no stock option expense for the years ended December 31, 2014, 2013 and 2012. Compensation expense within income from continuing operations related to restricted stock shares and restricted stock units totaled $38.4, $32.9 and $38.9 for the years ended December 31, 2014, 2013 and 2012, respectively, with the related tax benefit being $14.1, $12.1 and $14.8 for the years ended December 31, 2014, 2013 and 2012, respectively.

We use the Monte Carlo simulation model valuation technique to determine fair value of our restricted stock shares 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 share and restricted stock unit award. We used the following assumptions in determining the fair value of the awards granted on the dates indicated below:

	Annual Expected Stock Price Volatility			Annual Expected Dividend Yield			Risk-free Interest Rate			Correlation Between Total Shareholder Return for SPX and the Applicable S&P Index
January 2, 2014:
SPX Corporation		33.7	%		1.02	%		0.76	%		0.7631
S&P Composite 1500 Industrials Index		19.9	%		n/a			0.76	%
April 1, 2013:
SPX Corporation		35.5	%		1.29	%		0.33	%		0.7668
S&P Composite 1500 Industrials Index		21.2	%		n/a			0.33	%
January 2, 2013:
SPX Corporation		36.3	%		1.42	%		0.37	%		0.7778
S&P Composite 1500 Industrials Index		22.4	%		n/a			0.37	%
January 3, 2012:
SPX Corporation		44.3	%		1.60	%		0.44	%		0.7365
S&P 500 Index		23.1	%		n/a			0.44	%

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.

Restricted Stock Share and Restricted Stock Unit Awards

The following table summarizes the restricted stock share and restricted stock unit activity from December 31, 2011 through December 31, 2014:

	Unvested Restricted Stock Shares and Restricted Stock Units			Weighted-Average Grant-Date Fair Value Per Share
Outstanding at December 31, 2011		1.440		$	54.38
Granted		0.823			50.64
Vested		(0.264	)		39.75
Forfeited		(0.064	)		57.77

Outstanding at December 31, 2012		1.935			54.70
Granted		0.652			61.66
Vested		(0.754	)		54.34
Forfeited		(0.296	)		52.20

Outstanding at December 31, 2013		1.537			58.39
Granted		0.519			86.99
Vested		(0.604	)		59.49
Forfeited		(0.284	)		63.76

Outstanding at December 31, 2014		1.168			69.22

As of December 31, 2014, there was $22.1 of unrecognized compensation cost related to restricted stock share and restricted stock unit compensation arrangements. We expect this cost to be recognized over a weighted-average period of 1.7 years.

Stock Options

The following table shows stock option activity from December 31, 2011 through December 31, 2013. There was no stock option activity during the year ended December 31, 2014.

	Shares			Weighted- Average Exercise Price
Options outstanding and exercisable at December 31, 2011		0.364		$	54.87
Exercised		(0.174	)		39.58
Terminated		(0.177	)		69.42

Options outstanding and exercisable at December 31, 2012		0.013			62.45
Exercised		(0.008	)		50.79
Terminated		(0.005	)		85.36

Options outstanding and exercisable at December 31, 2013		—			—

The aggregate intrinsic value (market value of stock less the option exercise price) of options exercised during the years ended December 31, 2013 and 2012 was $0.4 and $5.9, respectively.

Accumulated Other Comprehensive Income

The changes in the components of accumulated other comprehensive income, net of tax, for the year ended December 31, 2014 were as follows:

	Foreign Currency Translation Adjustment			Net Unrealized Losses on Qualifying Cash Flow Hedges(1)			Net Unrealized Losses on Available-for- Sale Securities			Pension and Postretirement Liability Adjustment and Other(2)			Total
Balance at December 31, 2013	$	296.8		$	(0.8	)	$	(3.7	)	$	(4.8	)	$	287.5
Other comprehensive income (loss) before reclassifications		(237.8	)		(1.6	)		3.6			4.9			(230.9	)
Amounts reclassified from accumulated other comprehensive income		—			1.1			0.1			4.8			6.0

Current-period other comprehensive income (loss)		(237.8	)		(0.5	)		3.7			9.7			(224.9	)

Balance at December 31, 2014	$	59.0		$	(1.3	)	$	—		$	4.9		$	62.6

(1)

Net of tax benefit of $1.1 and $1.0 as of December 31, 2014 and 2013, respectively.

(2)

Net of tax (provision) benefit of $(3.0) and $2.2 as of December 31, 2014 and 2013, respectively. The balance as of December 31, 2014 includes unamortized prior service credits. The balance as of December 31, 2013 primarily includes $(5.0), net of tax, related to our share of the pension liability adjustment for EGS as of December 31, 2013. In connection with the sale of our interest in EGS during 2014, as described in Note 9, we recognized our share of the pension liability adjustment for EGS as a component of the gain on the sale of our investment interest.

The changes in the components of accumulated other comprehensive income, net of tax, for the year ended December 31, 2013 were as follows:

	Foreign Currency Translation Adjustment		Net Unrealized Losses on Qualifying Cash Flow Hedges(1)			Net Unrealized Losses on Available-for- Sale Securities			Pension and Postretirement Liability Adjustment and Other(2)			Total
Balance at December 31, 2012	$	293.8	$	(3.3	)	$	(3.1	)	$	(2.6	)	$	284.8
Other comprehensive income (loss) before reclassifications		3.0		(1.0	)		(0.6	)		(1.2	)		0.2
Amounts reclassified from accumulated other comprehensive income		—		3.5			—			(1.0	)		2.5

Current-period other comprehensive income (loss)		3.0		2.5			(0.6	)		(2.2	)		2.7

Balance at December 31, 2013	$	296.8	$	(0.8	)	$	(3.7	)	$	(4.8	)	$	287.5

(1)	Net of tax benefit of $1.0 and $2.5 as of December 31, 2013 and 2012, respectively.
(2)	Net of tax benefit of $2.2 and $1.2 as of December 31, 2013 and 2012, respectively. Includes $(5.0) and $(3.8), net of tax, related to our share of the pension liability adjustment for EGS as of December 31, 2013 and 2012, respectively, and $0.2 and $1.2, net of tax, of unamortized prior service credits as of December 31, 2013 and 2012, respectively.

The following summarizes amounts reclassified from each component of accumulated comprehensive income for the years ended December 31, 2014 and 2013:

	Amount Reclassified from AOCI						Affected Line Items in the Consolidated Statements of Operations
	Year ended December 31,
	2014			2013
Losses on qualifying cash flow hedges:
FX forward contracts	$	0.8		$	4.0		Revenues
Commodity contracts		0.7			1.3		Cost of products sold

Pre-tax		1.5			5.3
Income taxes		(0.4	)		(1.8	)

	$	1.1		$	3.5


Pension and postretirement items:
Recognition of our share of the pension liability adjustment for EGS	$	7.4		$	—		Other income (expense), net
Amortization of unrecognized prior service credits		—			(0.1	)	Cost of products sold
Amortization of unrecognized prior service credits		(0.3	)		(1.3	)	Selling, general and administrative

Pre-tax		7.1			(1.4	)
Income taxes		(2.3	)		0.4

	$	4.8		$	(1.0	)

Common Stock in Treasury

On February 16, 2012, we entered into a written trading plan under Rule 10b5-1 of the Exchange Act ("Rule 10b5-1"), to facilitate the repurchase of up to $350.0 of shares of our common stock on or before February 14, 2013, in accordance with a share repurchase program authorized by our Board of Directors. During 2012, we repurchased 3.606 shares of our common stock for $245.6. During January 2013, we repurchased 1.514 shares of our common stock for $104.4, which completed the repurchases authorized under this trading plan. In addition, we repurchased 1.864 shares of our common stock on the open market for $144.6 during the year ended December 31, 2013.

On December 18, 2013, we entered into a written trading plan under Rule 10b5-1 to facilitate the repurchase of up to $500.0 of shares of our common stock on or before December 31, 2014, in accordance with a share repurchase program authorized by our Board of Directors. We repurchased 0.115 shares of our common stock for $11.2 under this trading plan during December 2013. During 2014, we repurchased 4.852 shares of our common stock for $488.8, which completed the repurchases authorized under this trading plan.

During the years ended December 31, 2014, 2013 and 2012, "Common stock in treasury" was decreased by the settlement of restricted stock units issued from treasury stock of $13.8, $14.2 and $6.1, respectively, and increased by $7.9, $11.0 and $1.8, respectively, for common stock that was surrendered by recipients of restricted stock as a means of funding the related minimum income tax withholding requirements.

Dividends

In February 2014, we implemented a dividend increase effective with the first quarterly dividend payment of 2014. Our annual dividend is now $1.50 per share (previously $1.00 per share), payable quarterly. Dividends declared totaled $63.2, $45.5 and $50.9 for the years ended December 31, 2014, 2013 and 2012, respectively.

Preferred Stock

None of our 3.0 shares of authorized no par value preferred stock was outstanding at December 31, 2014, 2013 or 2012.

Fair Value

12 Months Ended

Dec. 31, 2014

Fair Value

Fair Value

(16) 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 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.

There were no changes during the periods presented to the valuation techniques we use to measure asset and liability fair values on a recurring basis. Except as previously discussed in Note 10, there were no transfers between the three levels of the fair value hierarchy for the periods presented.

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, valued using valuation models based on observable market inputs such as forward rates, interest rates, our own credit risk and the credit risk of our counterparties, which comprise investment-grade financial institutions. 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 active. We primarily use the income approach, which uses valuation techniques to convert future amounts to a single present amount.

As of December 31, 2014, there had 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 had been no significant impact to the fair value of our derivative assets based on our evaluation of our counterparties' credit risks.

Investments in Equity Securities

During 2014, we sold all our previously owned available-for-sale securities, which included equity investments traded in active international markets. These securities were measured at fair value using closing stock prices from active markets and were classified within Level 1 of the valuation hierarchy. These assets had a fair market value of $3.0 at December 31, 2013, and were sold for cash proceeds of $6.7 in 2014.

Certain of our investments in equity securities that are not readily marketable are accounted for under the fair value option and are classified as Level 3 assets in the fair value hierarchy, 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 December 31, 2014 and 2013, these assets had a fair value of $7.4 and $1.4, respectively, which are 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 December 31, 2014:

	Fair Value Measurements Using
	Level 1		Level 2		Level 3
Other current assets — FX embedded derivatives	$	—	$	5.1	$	—
Other assets — FX embedded derivatives and investment in equity securities		—		1.2		7.4
Accrued expenses — FX forward contracts, FX embedded derivatives and commodity contracts		—		10.6		—
Other long-term liabilities — FX embedded derivatives and FX forward contracts		—		1.0		—

Assets and liabilities measured at fair value on a recurring basis include the following as of December 31, 2013:

	Fair Value Measurements Using
	Level 1		Level 2		Level 3
Other current assets — FX embedded derivatives, FX forward contracts and commodity contracts	$	—	$	2.0	$	—
Other assets — Investments in equity securities		3.0		—		1.4
Accrued expenses — FX forward contracts and FX embedded derivatives		—		6.8		—
Other long-term liabilities — FX embedded derivatives		—		2.1		—

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) during the years ended December 31, 2014 and 2013, including net unrealized gains (losses) recorded to "Other income (expense), net."

	Reconciliation of Equity Securities using Significant Unobservable Inputs (Level 3)
Balance at December 31, 2012	$	7.5
Cash consideration received and other		(5.2	)
Unrealized losses recorded to earnings		(0.9	)

Balance at December 31, 2013		1.4
Unrealized gains recorded to earnings		6.0

Balance at December 31, 2014	$	7.4

Goodwill, Indefinite-Lived Intangible and Other Long-Lived Assets

Certain of our non-financial assets are subject to impairment analysis, including long-lived assets, indefinite-lived intangible assets and goodwill. We review the carrying amounts of such assets whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable or at least annually for indefinite-lived intangible assets and goodwill. Any resulting asset impairment would require that the instrument be recorded at its fair value. As of December 31, 2014, and with the exception of the impairment charges noted below, we did not have any significant non-financial assets or liabilities that are required to be measured at fair value on a recurring or non-recurring basis.

During 2014 and 2013, we recorded impairment charges of $20.1 and $6.7, respectively, related to the trademarks of certain businesses within our Flow Technology and Thermal Equipment and Services reportable segments as we determined that the fair values of the trademarks were less than the carrying values. The fair values of the trademarks were determined by applying estimated royalty rates to projected revenues, with the resulting cash flows discounted at a rate of return that reflected current market conditions (unobservable inputs — Level 3).

In addition, during 2014 we recorded an impairment charge of $18.0 related to our Cooling reporting unit's investment in the Shanghai Electric JV as we determined that the fair value of the investment was less than its carrying value. The fair value of the investment 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 (unobservable inputs — Level 3).

During 2012, we determined that the fair value of our Cooling reporting unit was less than the carrying value of its net assets (see Note 8). The fair value of our Cooling reporting unit 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 publically-traded companies that were applied to the historical and projected operating results of the Cooling reporting unit (unobservable inputs — Level 3). We then allocated the fair value to the assets and liabilities of Cooling, which resulted in an implied value for the reporting unit's goodwill. Based on such implied value, we recorded an impairment charge related to Cooling's goodwill of $270.4. In addition, we recorded an impairment charge related to other long-term assets at Cooling of $11.0. Lastly, we recorded impairment charges of $4.5 related to trademarks for two other businesses within our Thermal Equipment and Services reportable segment. The fair values of the trademarks were determined by applying estimated royalty rates to projected revenues, with the resulting cash flows discounted at a rate of return that reflected current market conditions (unobservable inputs — Level 3).

Indebtedness and Other

The estimated fair values of other financial liabilities (excluding capital leases) not measured at fair value on a recurring basis as of December 31, 2014 and 2013 were as follows:

	December 31, 2014				December 31, 2013
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Senior notes	$	600.0	$	665.3	$	1,100.0	$	1,214.3
Term loan		575.0		575.0		475.0		475.0
Other indebtedness		181.1		181.1		27.6		27.6

The following methods and assumptions were used in estimating the fair value of these financial instruments:

•	The fair values of the senior notes and term loan were determined using Level 2 inputs within the fair value hierarchy and were based on quoted market prices for the same or similar instruments or on current rates offered to us for debt with similar maturities, subordination and credit default expectations.
•	The fair value of our other indebtedness approximates carrying value due primarily to the short-term nature of these instruments.

The carrying amounts of cash and equivalents and receivables reported in our consolidated balance sheets approximate fair value due to the short maturity of those instruments.

- 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.

+ References+ Details

Quarterly Results (Unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)

(17) Quarterly Results (Unaudited)

	First(3)						Second					Third						Fourth(3)
	2014			2013			2014			2013		2014			2013			2014			2013
Operating revenues	$	1,077.1		$	1,100.8		$	1,195.1		$	1,180.9	$	1,171.2		$	1,162.7		$	1,277.7		$	1,328.9
Gross profit		301.5			297.3			347.2			338.5		347.4			344.0			367.5			401.2
Income (loss) from continuing operations, net of tax(1)		296.7			16.1			56.7			43.5		66.7			66.6			(40.0	)		85.1
Income (loss) from discontinued operations, net of tax(2)		21.1			(6.1	)		(6.7	)		3.7		(2.9	)		1.9			(3.2	)		1.8

Net income (loss)		317.8			10.0			50.0			47.2		63.8			68.5			(43.2	)		86.9
Less: Net income (loss) attributable to noncontrolling interests		(0.4	)		1.3			(1.2	)		2.0		0.3			(0.8	)		(8.2	)		(0.1	)

Net income (loss) attributable to SPX Corporation common shareholders	$	318.2		$	8.7		$	51.2		$	45.2	$	63.5		$	69.3		$	(35.0	)	$	87.0


Basic income (loss) per share of common stock:
Continuing operations, net of tax	$	6.72		$	0.32		$	1.34		$	0.91	$	1.59		$	1.51		$	(0.78	)	$	1.90
Discontinued operations, net of tax		0.47			(0.13	)		(0.15	)		0.08		(0.07	)		0.04			(0.08	)		0.04

Net income (loss)	$	7.19		$	0.19		$	1.19		$	0.99	$	1.52		$	1.55		$	(0.86	)	$	1.94


Diluted income (loss) per share of common stock:
Continuing operations, net of tax	$	6.59		$	0.32		$	1.32		$	0.90	$	1.57		$	1.50		$	(0.78	)	$	1.87
Discontinued operations, net of tax		0.47			(0.14	)		(0.15	)		0.08		(0.07	)		0.04			(0.08	)		0.04

Net income (loss)	$	7.06		$	0.18		$	1.17		$	0.98	$	1.50		$	1.54		$	(0.86	)	$	1.91

Note: The sum of the quarters' income per share may not equal the full year per share amounts.

(1)

As discussed in Note 9, during the first quarter of 2014, we completed the sale of our 44.5% interest in EGS to Emerson Electric Co. for cash proceeds of $574.1, which resulted in a pre-tax gain of $491.2.

As discussed in Note 12, we completed the redemption of all our 7.625% senior notes during the first quarter of 2014. As a result of the redemption, we recorded a pre-tax charge of $32.5 during that quarter.

During the first quarter of 2014, we recognized a pre-tax loss of $15.3 related to settlement losses and changes in the fair value of plan assets and actuarial losses, which resulted primarily from the lump-sum payment action associated with the U.S. Plan that took place during the quarter (see Note 10 for further details).

During the second and fourth quarters of 2014, we revised our estimates of revenues and costs associated with the large power projects in South Africa within our Thermal Equipment and Services reportable segment. As a result of these revisions, pre-tax income from continuing operations for the second and fourth quarters of 2014 was reduced by $8.3 and $25.0, respectively. These revisions were primarily due to overall project delays and subcontractor challenges. See Note 5 for additional details.

During the fourth quarters of 2014 and 2013, we recognized pre-tax gains (losses) of $(86.3) and $0.8, respectively, related to changes in the fair value of plan assets, actuarial gains (losses) associated with our pension and postretirement benefit plans and settlement gains (losses) associated with the partial annuitization of the U.K. and U.S. Plans. The income tax (provision) benefit associated with these gains (losses) was $27.2 and $(1.7), respectively.

During the fourth quarter of 2014, we recorded impairment charges of $20.1 related to the trademarks of certain businesses within our Flow Technology and Thermal Equipment and Services reportable segments, and $18.0 related to our Cooling reporting unit's investment in the Shanghai Electric JV. During the fourth quarter of 2013, we recorded impairment charges of $4.7 related to the trademarks of certain businesses within our Flow Technology reportable segment.

During the fourth quarter of 2014, we recorded income tax charges of $29.7 associated with (i) $18.6 of U.S. taxes provided as a result of our election during the quarter to repatriate certain earnings of our non-U.S. subsidiaries, (ii) $6.0 of foreign taxes provided in connection with certain legal entity reorganization actions that are being undertaken to facilitate the planned spin-off transaction, and (iii) $5.1 of valuation allowances that have been recorded against certain foreign deferred income tax assets as a result of the legal entity reorganization noted above. These charges were offset partially by a reduction in income tax liabilities of $18.3 resulting from various audit settlements and statute expirations during the quarter, with the most notable being the closure of our U.S. tax examinations for the years 2008 through 2011.

(2)

As discussed in Note 4, we sold TPS for cash consideration of $42.5 during the first quarter of 2014. The sale resulted in a gain, net of taxes, of $21.5 during that quarter. The net gain on sale of TPS was increased by $0.2 in subsequent quarters of 2014, related to revisions of certain liabilities associated with the sale.

(3)

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 first calendar 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 2014 were March 29, June 28 and September 27, compared to the respective March 30, June 29 and September 28, 2013 dates. This practice only affects the quarterly reporting periods and not the annual reporting period. We had one less day in the first quarter of 2014 and one more day in the fourth quarter of 2014 than in the respective 2013 periods.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2014

Summary of Significant Accounting Policies

Basis of Presentation

Foreign Currency Translation and Transactions

Cash Equivalents

Cash Equivalents — We consider highly liquid money market investments with original maturities of three months or less at the date of purchase to be cash equivalents.

Revenue Recognition

Research and Development Costs

Property, Plant and Equipment

Pension and Postretirement

Income Taxes

Derivative Financial Instruments

Cash flows from hedging activities are included in the same category as the items being hedged, which is primarily operating activities.

Use of Estimates

Accounts Receivable Allowances

	Year ended December 31,
	2014			2013			2012
Balance at beginning of year	$	46.4		$	50.2		$	40.8
Allowances provided		30.9			23.8			27.9
Write-offs, net of recoveries, credits issued and other		(40.5	)		(27.6	)		(18.5	)

Balance at end of year	$	36.8		$	46.4		$	50.2

Inventory

Long-Lived Assets and Intangible Assets Subject to Amortization

Goodwill and Indefinite-Lived Intangible Assets

Accrued Expenses

	December 31,
	2014		2013
Employee benefits	$	219.6	$	215.3
Unearned revenue(1)		375.4		460.9
Warranty		38.3		42.4
Other(2)		259.0		272.2

Total	$	892.3	$	990.8

(1)	Unearned revenue includes billings in excess of costs and estimated earnings on uncompleted contracts accounted for under the percentage-of-completion method of revenue recognition, customer deposits and unearned amounts on service contracts.
(2)	Other consists of various items including, among other items, accrued legal costs, interest, restructuring costs and dividends payable, none of which is individually material.

Legal

Environmental Remediation Costs

Self-Insurance

Warranty

	Year ended December 31,
	2014			2013			2012
Balance at beginning of year	$	55.1		$	60.0		$	55.9
Acquisition		—			—			3.7
Provisions		34.9			31.4			24.9
Usage		(32.0	)		(36.4	)		(25.0	)
Currency translation adjustment		(2.0	)		0.1			0.5

Balance at end of year		56.0			55.1			60.0
Less: Current portion of warranty		38.3			42.4			49.9

Non-current portion of warranty	$	17.7		$	12.7		$	10.1

Income Taxes

Employee Benefit Plans

Acquisitions and Discontinued Operations

Business Acquisitions

Discontinued Operations

Environmental Matters

Environmental Matters

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Summary of Significant Accounting Policies

Schedule of costs and estimated earnings on uncompleted contracts

	2014			2013
Costs incurred on uncompleted contracts	$	3,232.6		$	3,767.4
Estimated earnings to date		591.1			813.2

		3,823.7			4,580.6
Less: Billings to date		(3,765.5	)		(4,517.9	)

		58.2			62.7
Net costs and estimated earnings in excess of billings assumed in the acquisition of Clyde Union (Holdings) S.A.R.L. ("Clyde Union")		—			4.2

Net costs and estimated earnings in excess of billings	$	58.2		$	66.9

Schedule of net costs and estimated earnings in excess of billings

	2014			2013
Costs and estimated earnings in excess of billings(1)	$	237.1		$	285.3
Billings in excess of costs and estimated earnings on uncompleted contracts(2)		(178.9	)		(218.4	)

Net costs and estimated earnings in excess of billings	$	58.2		$	66.9

(1)	Reported as a component of "Accounts receivable, net."
(2)	Reported as a component of "Accrued expenses."

Use of Estimates (Tables)

12 Months Ended

Dec. 31, 2014

Use of Estimates

Schedule of activity for accounts receivable allowance accounts

	Year ended December 31,
	2014			2013			2012
Balance at beginning of year	$	46.4		$	50.2		$	40.8
Allowances provided		30.9			23.8			27.9
Write-offs, net of recoveries, credits issued and other		(40.5	)		(27.6	)		(18.5	)

Balance at end of year	$	36.8		$	46.4		$	50.2

Schedule of accrued expenses

	December 31,
	2014		2013
Employee benefits	$	219.6	$	215.3
Unearned revenue(1)		375.4		460.9
Warranty		38.3		42.4
Other(2)		259.0		272.2

Total	$	892.3	$	990.8

(1)	Unearned revenue includes billings in excess of costs and estimated earnings on uncompleted contracts accounted for under the percentage-of-completion method of revenue recognition, customer deposits and unearned amounts on service contracts.
(2)	Other consists of various items including, among other items, accrued legal costs, interest, restructuring costs and dividends payable, none of which is individually material.

Schedule of product warranty accrual

	Year ended December 31,
	2014			2013			2012
Balance at beginning of year	$	55.1		$	60.0		$	55.9
Acquisition		—			—			3.7
Provisions		34.9			31.4			24.9
Usage		(32.0	)		(36.4	)		(25.0	)
Currency translation adjustment		(2.0	)		0.1			0.5

Balance at end of year		56.0			55.1			60.0
Less: Current portion of warranty		38.3			42.4			49.9

Non-current portion of warranty	$	17.7		$	12.7		$	10.1

Acquisitions, Discontinued Operations and Formation of Shanghai Electric JV (Tables)

12 Months Ended

Dec. 31, 2014

Acquisitions, Discontinued Operations and Formation of Shanghai Electric JV

Schedule of businesses sold showing quarter discontinued and quarter sold

Business	Quarter Discontinued		Quarter of Sale or Termination of Operations
Fenn LLC ("Fenn")		Q3 2013		Q3 2014
SPX Precision Components ("Precision Components")		Q3 2013		Q2 2014
Thermal Product Solutions ("TPS")		Q3 2013		Q1 2014
Broadcast Antenna System business ("Dielectric")		Q2 2013		Q2 2013
Crystal Growing business ("Kayex")		Q1 2013		Q1 2013
TPS Tianyu Equipment Co., Ltd. ("Tianyu")		Q4 2012		Q4 2012
Weil-McLain (Shandong) Cast-Iron-Boiler Co., Ltd. ("Weil-McLain Shandong")		Q4 2012		Q4 2012
SPX Service Solutions ("Service Solutions")		Q1 2012		Q4 2012

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

	Year ended December 31,
	2014			2013			2012
Income from discontinued operations	$	22.1		$	3.6		$	612.7
Income tax provision		(13.8	)		(2.3	)		(264.3	)

Income from discontinued operations, net	$	8.3		$	1.3		$	348.4

Schedule of results of operations of businesses reported as discontinued operations

	Year ended December 31,
	2014			2013		2012
Revenues	$	27.7		$	148.9	$	1,030.6
Pre-tax income (loss)		(6.1	)		7.0		57.1

Schedule of major classes of assets and liabilities, excluding intercompany balances, of businesses reported as discontinued operations

	December 31, 2013
Assets:
Accounts receivable, net	$	19.1
Inventories, net		33.9
Other current assets		1.1
Property, plant and equipment, net		12.1
Goodwill and intangibles, net		34.7

Assets of discontinued operations	$	100.9


Liabilities:
Accounts payable	$	10.4
Accrued expenses		17.0

Liabilities of discontinued operations	$	27.4

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References+ Details

Information on Reportable Segments and Other Operating Segments (Tables)

12 Months Ended

Dec. 31, 2014

Information on Reportable Segments and Other Operating Segments

Schedule of reportable segments and other operating segments, including the results of acquisitions from the respective dates of acquisition

	2014		2013			2012
Revenues:
Flow Technology reportable segment	$	2,596.1	$	2,638.0		$	2,682.2
Thermal Equipment and Services reportable segment(1)		1,329.9		1,344.2			1,490.9
Industrial Products and Services and Other		795.1		791.1			721.5

Total revenues	$	4,721.1	$	4,773.3		$	4,894.6


Income:
Flow Technology reportable segment	$	361.9	$	308.3		$	285.1
Thermal Equipment and Services reportable segment(1)		52.4		81.9			106.7
Industrial Products and Services and Other		107.8		119.9			99.3

Total income for reportable and other operating segments		522.1		510.1			491.1
Corporate expense		106.8		110.8			108.8
Pension and postretirement expense (income)		113.8		(17.7	)		158.0
Stock-based compensation expense		38.4		32.9			38.9
Impairment of goodwill and other long-term assets		38.1		6.7			285.9
Special charges, net		23.1		32.3			23.4

Consolidated operating income (loss)	$	201.9	$	345.1		$	(123.9	)


Capital expenditures:
Flow Technology reportable segment	$	34.8	$	21.0		$	25.6
Thermal Equipment and Services reportable segment		9.1		7.2			10.9
Industrial Products and Services and Other		6.9		10.3			19.4
General corporate		10.3		16.6			25.9

Total capital expenditures	$	61.1	$	55.1		$	81.8


Depreciation and amortization:
Flow Technology reportable segment	$	62.8	$	68.3		$	63.8
Thermal Equipment and Services reportable segment		20.3		22.5			22.0
Industrial Products and Services and Other		15.2		15.9			15.9
General corporate		10.9		8.4			6.1

Total depreciation and amortization	$	109.2	$	115.1		$	107.8


Identifiable assets:
Flow Technology reportable segment	$	3,165.7	$	3,526.8		$	3,611.2
Thermal Equipment and Services reportable segment		1,391.0		1,338.1			1,445.4
Industrial Products and Services and Other		667.4		684.8			699.3
General corporate		678.1		1,205.6			1,279.1
Discontinued operations		—		100.9			95.1

Total identifiable assets	$	5,902.2	$	6,856.2		$	7,130.1


Geographic Areas:
Revenues:(2)
United States	$	2,233.9	$	2,213.3		$	2,230.8
United Kingdom		452.0		499.6			545.2
Germany		311.9		306.2			358.5
China		278.4		235.9			232.3
South Africa		137.3		266.3			322.4
Other		1,307.6		1,252.0			1,205.4

	$	4,721.1	$	4,773.3		$	4,894.6


Tangible Long-Lived Assets:
United States	$	956.1	$	1,260.1		$	1,156.5
Other		444.6		385.7			310.2

Long-lived assets of continuing operations		1,400.7		1,645.8			1,466.7
Long-lived assets of discontinued operations		—		12.1			12.0

Total tangible long-lived assets	$	1,400.7	$	1,657.9		$	1,478.7

(1)

(2)

Revenues are included in the above geographic areas based on the country that recorded the customer revenue.

Special Charges, Net (Tables)

12 Months Ended

Dec. 31, 2014

Special Charges, Net

Schedule of special charges by expense type

	Years Ended December 31,
	2014		2013		2012
Employee termination costs	$	19.8	$	29.2	$	22.6
Facility consolidation costs		0.9		1.0		2.4
Other cash costs (recoveries), net		0.9		0.1		(4.4	)
Non-cash asset write-downs		1.5		2.0		2.8

Total	$	23.1	$	32.3	$	23.4

Schedule of special charges

2014 Charges:

	Employee Termination Costs		Facility Consolidation Costs		Other Cash Costs, Net		Non-Cash Asset Write-downs		Total Special Charges
Flow Technology reportable segment	$	11.2	$	0.6	$	0.5	$	1.5	$	13.8
Thermal Equipment and Services reportable segment		5.7		0.3		0.4		—		6.4
Industrial Products and Services and Other		2.3		—		—		—		2.3
Corporate		0.6		—		—		—		0.6

Total	$	19.8	$	0.9	$	0.9	$	1.5	$	23.1

2013 Charges:

	Employee Termination Costs		Facility Consolidation Costs		Other Cash Costs (Recoveries), Net			Non-Cash Asset Write-downs		Total Special Charges
Flow Technology reportable segment	$	11.8	$	1.0	$	(0.3	)	$	1.7	$	14.2
Thermal Equipment and Services reportable segment		16.3		—		—			—		16.3
Industrial Products and Services and Other		1.0		—		0.2			—		1.2
Corporate		0.1		—		0.2			0.3		0.6

Total	$	29.2	$	1.0	$	0.1		$	2.0	$	32.3

2012 Charges:

	Employee Termination Costs		Facility Consolidation Costs		Other Cash Costs (Recoveries), Net			Non-Cash Asset Write-downs		Total Special Charges
Flow Technology reportable segment	$	16.2	$	1.8	$	—		$	0.9	$	18.9
Thermal Equipment and Services reportable segment		5.7		0.2		0.1			1.6		7.6
Industrial Products and Services and Other		—		0.3		—			—		0.3
Corporate		0.7		0.1		(4.5	)		0.3		(3.4	)

Total	$	22.6	$	2.4	$	(4.4	)	$	2.8	$	23.4

Schedule of the analysis of the entity's restructuring liabilities

	December 31,
	2014			2013			2012
Balance at beginning of year	$	19.0		$	16.4		$	11.0
Special charges(1)		21.6			34.7			25.5
Utilization — cash(2)		(26.2	)		(32.4	)		(20.1	)
Currency translation adjustment and other		(0.1	)		0.3			—

Balance at the end of year	$	14.3		$	19.0		$	16.4

(1)

(2)

The years ended December 31, 2014, 2013 and 2012 included $0.7, $3.6 and $1.0 of cash utilized to settle retained liabilities of discontinued operations.

Inventories, Net (Tables)

12 Months Ended

Dec. 31, 2014

Inventories, Net

Schedule of inventories

	December 31,
	2014			2013
Finished goods	$	138.2		$	148.7
Work in process		158.6			165.1
Raw materials and purchased parts		220.5			213.0

Total FIFO cost		517.3			526.8
Excess of FIFO cost over LIFO inventory value		(19.5	)		(20.9	)

Total inventories	$	497.8		$	505.9

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2014

Goodwill and Other Intangible Assets

Schedule of changes in the carrying amount of goodwill, by reportable segment and other operating segments

	December 31, 2013			Goodwill Resulting from Business Combinations		Impairments		Foreign Currency Translation and Other			December 31, 2014
Flow Technology reportable segment
Gross goodwill	$	1,120.2		$	—	$	—	$	(83.7	)	$	1,036.5
Accumulated impairments		—			—		—		—			—

Goodwill		1,120.2			—		—		(83.7	)		1,036.5

Thermal Equipment and Services reportable segment
Gross goodwill		570.0			—		—		(16.7	)		553.3
Accumulated impairments		(399.5	)		—		—		8.1			(391.4	)

Goodwill		170.5			—		—		(8.6	)		161.9

Industrial Products and Services and Other
Gross goodwill		398.9			—		—		(2.8	)		396.1
Accumulated impairments		(140.5	)		—		—		1.4			(139.1	)

Goodwill		258.4			—		—		(1.4	)		257.0

Total
Gross goodwill		2,089.1			—		—		(103.2	)		1,985.9
Accumulated impairments		(540.0	)		—		—		9.5			(530.5	)

Goodwill	$	1,549.1		$	—	$	—	$	(93.7	)	$	1,455.4

	December 31, 2012			Goodwill Resulting from Business Combinations		Impairments		Foreign Currency Translation and Other			December 31, 2013
Flow Technology reportable segment
Gross goodwill	$	1,114.6		$	—	$	—	$	5.6		$	1,120.2
Accumulated impairments		—			—		—		—			—

Goodwill		1,114.6			—		—		5.6			1,120.2

Thermal Equipment and Services reportable segment
Gross goodwill		563.7			—		—		6.3			570.0
Accumulated impairments		(395.7	)		—		—		(3.8	)		(399.5	)

Goodwill		168.0			—		—		2.5			170.5

Industrial Products and Services and Other
Gross goodwill		399.7			—		—		(0.8	)		398.9
Accumulated impairments		(140.4	)		—		—		(0.1	)		(140.5	)

Goodwill		259.3			—		—		(0.9	)		258.4

Total
Gross goodwill		2,078.0			—		—		11.1			2,089.1
Accumulated impairments		(536.1	)		—		—		(3.9	)		(540.0	)

Goodwill	$	1,541.9		$	—	$	—	$	7.2		$	1,549.1

Schedule of identifiable intangible assets

	December 31, 2014							December 31, 2013
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Intangible assets with determinable lives:
Customer relationships	$	388.6	$	(91.7	)	$	296.9	$	413.4	$	(80.0	)	$	333.4
Technology		183.8		(59.8	)		124.0		196.6		(52.7	)		143.9
Patents		11.3		(8.8	)		2.5		11.5		(8.3	)		3.2
Other		28.7		(18.3	)		10.4		31.0		(18.6	)		12.4

		612.4		(178.6	)		433.8		652.5		(159.6	)		492.9
Trademarks with indefinite lives		397.2		—			397.2		435.4		—			435.4

Total	$	1,009.6	$	(178.6	)	$	831.0	$	1,087.9	$	(159.6	)	$	928.3

Investments in Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2014

Investments in Joint Ventures

Schedule of results of operations and selected other information of joint venture investment

	2013		2012
Revenues	$	517.5	$	527.0
Gross profit		223.3		221.9
Income from continuing operations		89.4		87.9
Net income		89.4		87.9
Capital expenditures		13.3		12.0
Depreciation and amortization		11.0		10.4
Dividends received by SPX		30.3		35.2
Undistributed earnings attributable to SPX Corporation		20.0		8.4
SPX's equity earnings in EGS		41.9		39.0

Schedule of condensed balance sheet information for joint venture investment

	2013
Current assets	$	180.4
Non-current assets		336.4
Current liabilities		108.0
Non-current liabilities		24.0

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Employee Benefit Plans

Schedule of entity's multiemployer benefit plan

Pension Fund

EIN Pension
Plan Number

Pension
Protection
Act Zone
Status — 2014

Financial
Improvement
Plan /
Rehabilitation
Plan Status
Pending

2014
Contributions

2013
Contributions

Surcharge
Imposed

Expiration Date
of Collective
Bargaining
Agreement

IAM

51-6031295-002

Green

0.1

0.4

August 10, 2017

Pension plans

Employee Benefit Plans

Schedule of the fair value of plan assets by asset class

The fair values of pension plan assets at December 31, 2014, by asset class, were as follows:

	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset class:
Debt securities:
Fixed income common trust funds(1)	$	178.2	$	15.1	$	163.1	$	—
Corporate bonds		36.5		36.5		—		—
Non-U.S. Government securities		28.5		—		28.5		—
U.S. Government securities		12.0		12.0		—		—
Equity securities:
Global equity common trust funds(2)		162.8		15.0		142.9		4.9
Global equities:
Finance		2.1		2.1		—		—
Capital equipment		1.9		1.9		—		—
Consumer goods		1.7		1.7		—		—
Materials		1.6		1.6		—		—
Services		0.8		0.8		—		—
Energy		0.2		0.2		—		—
Miscellaneous		4.6		4.6		—		—
Alternative investments:
Commingled global fund allocations(3)		36.3		10.5		25.8		—
Other:
Short-term investments(4)		19.7		19.7		—		—
Other(5)		5.5		0.3		—		5.2

Total	$	492.4	$	122.0	$	360.3	$	10.1

The fair values of pension plan assets at December 31, 2013, by asset class, were as follows:

	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset class:
Debt securities:
Fixed income common trust funds(1)	$	212.2	$	27.8	$	184.4	$	—
Non-U.S. Government securities		42.4		—		42.4		—
Equity securities:
Global equity common trust funds(2)		247.2		37.9		202.5		6.8
Global equities:
Finance		3.4		3.4		—		—
Capital equipment		4.8		4.8		—		—
Consumer goods		3.2		3.2		—		—
Materials		2.9		2.9		—		—
Services		1.4		1.4		—		—
Energy		1.9		1.9		—		—
Miscellaneous		8.9		8.9		—		—
Alternative investments:
Commingled global fund allocations(3)		71.5		20.0		51.5		—
Other:
Short-term investments(4)		163.7		163.7		—		—
Other(5)		6.9		0.5		—		6.4

Total	$	770.4	$	276.4	$	480.8	$	13.2

(1)	This class represents investments in actively managed common trust funds that invest in a variety of fixed income investments, which may include corporate bonds, both U.S. and non-U.S. municipal securities, interest rate swaps, options and futures. The funds are valued at the net asset value per share multiplied by the number of shares held as of the measurement date. The investments are valued based on yields currently available for comparable securities of issuers with similar credit ratings. The Level of the fund(s) (Level 1, 2 or 3) is determined based on the classification of the significant holdings within the fund.
(2)	This class represents investments in actively managed common trust funds that invest primarily in equity securities, which may include common stocks, options and futures. The funds are valued at the net asset value per share multiplied by the number of shares held as of the measurement date. The investments are valued based on market values and yields currently available for comparable securities of issuers with similar credit ratings. The Level of the fund(s) (Level 1, 2 or 3) is determined based on the classification of the significant holdings within the fund.
(3)	This class represents investments in actively managed common trust funds with investments in both equity and debt securities. The investments may include common stock, corporate bonds, U.S. and non-U.S. municipal securities, interest rate swaps, options and futures. The funds are valued at the net asset value per share multiplied by the number of shares held as of the measurement date. The investments are valued based on market values and yields currently available for comparable securities of issuers with similar credit ratings. The Level of the fund(s) (Level 1, 2 or 3) is determined based on the classification of the significant holdings within the fund.
(4)	Short-term investments are valued at $1.00/unit, which approximates fair value. Amounts are generally invested in actively managed common trust funds or interest-bearing accounts.
(5)	This category represents investments in insurance contracts, private equity and publicly traded real estate investment trusts. The insurance contracts and private equity investments are valued using unobservable inputs from the fund manager, primarily based on discounted cash flows models.

Schedule of changes in the fair value of Level 3 assets

	Global Equity Common Trust Funds			Commingled Global Fund Allocations			Fixed Income Common Trust Funds			Other			Total
Balance at December 31, 2012	$	29.0		$	155.6		$	1.4		$	7.4		$	193.4
Transfers from Level 3 to Level 2 assets		—			(105.6	)		—			—			(105.6	)
Realized gains		—			0.9			—			—			0.9
Unrealized gains (losses) relating to instruments still held at period end		0.4			—			—			(0.1	)		0.3
Purchases		3.1			—			—			—			3.1
Sales		(25.7	)		(50.9	)		(1.4	)		(0.9	)		(78.9	)

Balance at December 31, 2013		6.8			—			—			6.4			13.2
Unrealized gains relating to instruments still held at period end		0.2			—			—			—			0.2
Sales		(2.1	)		—			—			(1.2	)		(3.3	)

Balance at December 31, 2014	$	4.9		$	—		$	—		$	5.2		$	10.1

Schedule of estimated minimum benefit payments

Estimated future benefit payments:
(Domestic and foreign pension plans)

	Domestic Pension Benefits		Foreign Pension Benefits
2015	$	22.0	$	6.4
2016		78.7		7.6
2017		19.5		8.4
2018		20.1		9.3
2019		21.2		10.4
Subsequent five years		125.7		53.8

Schedule of funded status of the pension plans and amounts recognized in consolidated balance sheets

	Domestic Pension Plans						Foreign Pension Plans
	2014			2013			2014			2013
Change in projected benefit obligation:
Projected benefit obligation — beginning of year	$	568.8		$	1,345.8		$	335.6		$	323.0
Service cost		7.1			7.6			2.6			2.7
Interest cost		19.9			45.6			13.8			13.4
Employee contributions		—			—			0.1			0.2
Actuarial losses (gains)		59.5			(49.8	)		55.3			9.6
Settlements(1)		(160.4	)		(708.8	)		(127.7	)		—
Plan amendment		—			—			(0.2	)		—
Benefits paid		(39.6	)		(71.6	)		(16.0	)		(14.8	)
Foreign exchange and other		—			—			(23.9	)		1.5

Projected benefit obligation — end of year	$	455.3		$	568.8		$	239.6		$	335.6

⁽¹⁾

	Domestic Pension Plans						Foreign Pension Plans
	2014			2013			2014			2013
Change in plan assets:
Fair value of plan assets — beginning of year	$	467.3		$	936.8		$	303.1		$	277.0
Actual return on plan assets		28.1			26.7			32.9			19.1
Contributions (employer and employee)		10.3			284.2			10.8			16.8
Settlements		(160.4	)		(708.8	)		(127.7	)		—
Benefits paid		(39.6	)		(71.6	)		(12.8	)		(11.1	)
Foreign exchange and other		—			—			(19.6	)		1.3

Fair value of plan assets — end of year	$	305.7		$	467.3		$	186.7		$	303.1


Funded status at year-end		(149.6	)		(101.5	)		(52.9	)		(32.5	)
Amounts recognized in the consolidated balance sheets consist of:
Other assets	$	3.3		$	38.2		$	15.6		$	36.2
Accrued expenses		(10.3	)		(8.9	)		(2.4	)		(2.7	)
Other long-term liabilities		(142.6	)		(130.8	)		(66.1	)		(66.0	)

Net amount recognized	$	(149.6	)	$	(101.5	)	$	(52.9	)	$	(32.5	)


Amount recognized in accumulated other comprehensive income (pre-tax) consists of — net prior service credits	$	(0.2	)	$	(0.1	)	$	(0.2	)	$	(0.1	)

Schedule of accumulated benefit obligations in excess of the fair value of plan assets

	Domestic Pension Plans				Foreign Pension Plans
	2014		2013		2014		2013
Projected benefit obligation	$	153.9	$	140.5	$	118.6	$	117.7
Accumulated benefit obligation		151.0		135.9		115.4		114.3
Fair value of plan assets		1.0		0.9		50.1		49.0

Schedule of actuarial assumptions used in accounting for pension plans

	Year ended December 31,
	2014			2013			2012
Domestic Pension Plans
Weighted-average actuarial assumptions used in determining net periodic pension expense:
Discount rate		4.54	%		3.85	%		4.69	%
Rate of increase in compensation levels		3.75	%		3.75	%		3.75	%
Expected long-term rate of return on assets		6.76	%		7.25	%		7.25	%
Weighted-average actuarial assumptions used in determining year-end benefit obligations:
Discount rate		3.90	%		4.77	%		3.74	%
Rate of increase in compensation levels		3.75	%		3.75	%		3.75	%
Foreign Pension Plans
Weighted-average actuarial assumptions used in determining net periodic pension expense:
Discount rate		4.23	%		4.35	%		5.10	%
Rate of increase in compensation levels		3.92	%		3.91	%		3.92	%
Expected long-term rate of return on assets		5.78	%		6.45	%		6.56	%
Weighted-average actuarial assumptions used in determining year-end benefit obligations:
Discount rate		3.31	%		4.23	%		4.35	%
Rate of increase in compensation levels		3.87	%		3.92	%		3.91	%

Domestic Pension Plans

Employee Benefit Plans

Schedule of actual asset allocation percentages of each class of the entity's plan assets along with targeted asset investment allocation percentages

Domestic Pension Plans

	Actual Allocations						Mid-point of Target Allocation Range
	2014			2013			2014
Fixed income common trust funds		53	%		20	%		49	%
Commingled global fund allocation		12	%		15	%		18	%
Corporate bonds		12	%		0	%		12	%
Global equity common trust funds		11	%		25	%		10	%
Global equities		4	%		6	%		5	%
U.S. Government securities		4	%		0	%		4	%
Short-term investments(1)		3	%		33	%		0	%
Other(2)		1	%		1	%		2	%

Total		100	%		100	%		100	%

(1)	Short-term investments are generally invested in actively managed common trust funds or interest-bearing accounts.
(2)	Assets included in this class at December 31, 2014 and 2013 are comprised primarily of insurance contracts, private equity and publicly traded real estate trusts.

Schedule of net periodic benefit (income) expense

Domestic Pension Plans

	Year ended December 31,
	2014			2013			2012
Service cost	$	7.1		$	7.6		$	9.8
Interest cost		19.9			45.6			54.4
Expected return on plan assets		(19.5	)		(73.2	)		(61.8	)
Amortization of unrecognized prior service credits		—			—			(0.6	)
Recognized net actuarial losses (gains)(1)		50.9			(3.3	)		121.4

Total net periodic pension benefit expense (income)	$	58.4		$	(23.3	)	$	123.2

(1)	Consists primarily of our reported actuarial losses (gains), the difference between actual and expected returns on plan assets, settlement gains (losses) and, to a lesser extent, curtailments.

Foreign Pension Plans

Employee Benefit Plans

Schedule of actual asset allocation percentages of each class of the entity's plan assets along with targeted asset investment allocation percentages

Foreign Pension Plans

	Actual Allocations						Mid-point of Target Allocation Range
	2014			2013			2014
Global equity common trust funds		69	%		43	%		44	%
Fixed income common trust funds		8	%		40	%		31	%
Non-U.S. Government securities		15	%		14	%		22	%
Short-term investments(1)		6	%		2	%		1	%
Other(2)		2	%		1	%		2	%

Total		100	%		100	%		100	%

(1)	Short-term investments are generally invested in actively managed common trust funds or interest-bearing accounts.
(2)	Assets included in this class comprised primarily insurance contracts.

Schedule of net periodic benefit (income) expense

Foreign Pension Plans

	Year ended December 31,
	2014			2013			2012
Service cost	$	2.6		$	2.7		$	2.8
Interest cost		13.8			13.4			14.6
Expected return on plan assets		(17.6	)		(17.6	)		(16.6	)
Settlement loss(1)		15.0			—			—
Recognized net actuarial losses(2)		25.0			8.2			23.6

Total net periodic pension benefit expense		38.8			6.7			24.4
Less: Net periodic pension income (expense) of discontinued operations		(3.0	)		2.8			(2.1	)

Net periodic pension benefit expense of continuing operations	$	35.8		$	9.5		$	22.3

(1)	Includes the settlement loss recorded in connection with the transfer of the pension obligation for the retirees of the U.K. Plan to Just Retirement.
(2)	Consists of our reported actuarial losses and the difference between actual and expected returns on plan assets.

Postretirement Plans

Employee Benefit Plans

Schedule of estimated future benefit payments and expected federal subsidies

	Postretirement Payments, net of Subsidies		Postretirement Subsidies
2015	$	12.8	$	0.5
2016		12.3		0.5
2017		11.7		0.5
2018		11.1		0.5
2019		10.6		0.5
Subsequent five years		44.4		2.2

Schedule of funded status of the pension plans and amounts recognized in consolidated balance sheets


	Postretirement Benefits
	2014			2013
Change in accumulated postretirement benefit obligation:
Accumulated postretirement benefit obligation — beginning of year	$	131.5		$	148.7
Service cost		0.4			0.5
Interest cost		5.3			4.8
Actuarial losses (gains)		14.2			(7.8	)
Benefits paid		(13.7	)		(14.7	)
Plan amendment		(7.5	)		—

Accumulated postretirement benefit obligation — end of year	$	130.2		$	131.5


Funded status at year-end	$	(130.2	)	$	(131.5	)
Amounts recognized in the consolidated balance sheets consist of:
Accrued expenses	$	(12.6	)	$	(13.7	)
Other long-term liabilities		(117.6	)		(117.8	)

Net amount recognized	$	(130.2	)	$	(131.5	)


Amount recognized in accumulated other comprehensive income (pre-tax) consists of — net prior service credits	$	(7.5	)	$	(0.3	)

Schedule of net periodic benefit (income) expense

	Year ended December 31,
	2014			2013			2012
Service cost	$	0.4		$	0.5		$	0.5
Interest cost		5.3			4.8			6.1
Amortization of unrecognized prior service credits		(0.3	)		(1.4	)		(1.4	)
Recognized net actuarial losses (gains)		14.2			(7.8	)		7.3

Net periodic postretirement benefit expense (income)	$	19.6		$	(3.9	)	$	12.5

Schedule of actuarial assumptions used in accounting for plans

	Year ended December 31,
	2014			2013			2012
Assumed health care cost trend rates:
Health care cost trend rate for next year		6.79	%		6.98	%		7.13	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)		5.00	%		5.00	%		5.00	%
Year that the rate reaches the ultimate trend rate		2024			2024			2019
Discount rate used in determining net periodic postretirement benefit expense		4.23	%		3.37	%		4.36	%
Discount rate used in determining year-end postretirement benefit obligation		3.55	%		4.23	%		3.37	%

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes

Schedule of income (loss) from continuing operations before income taxes and (provision for) benefit from income taxes

	Year ended December 31,
	2014			2013			2012
Income (loss) from continuing operations:
United States	$	474.1		$	212.7		$	(223.6	)
Foreign		120.1			58.9			44.2

	$	594.2		$	271.6		$	(179.4	)


(Provision for) benefit from income taxes:
Current:
United States	$	(261.7	)	$	65.5		$	(1.4	)
Foreign		(34.1	)		(30.0	)		(20.9	)

Total current		(295.8	)		35.5			(22.3	)

Deferred and other:
United States		111.2			(123.9	)		1.2
Foreign		(29.5	)		28.1			35.3

Total deferred and other		81.7			(95.8	)		36.5

Total (provision) benefit	$	(214.1	)	$	(60.3	)	$	14.2

Schedule of reconciliation of income tax computed at the U.S. federal statutory tax rate to the effective income tax rate

	Year ended December 31,
	2014			2013			2012
Tax at U.S. federal statutory rate		35.0	%		35.0	%		35.0	%
State and local taxes, net of U.S. federal benefit		1.8			1.5			(0.5	)
U.S. credits and exemptions		(1.6	)		(3.9	)		2.8
Foreign earnings taxed at lower rates		(2.3	)		(10.7	)		14.0
Audit settlements with taxing authorities		(2.0	)		0.2			15.4
Adjustments to uncertain tax positions		(2.1	)		0.8			(3.0	)
Changes in valuation allowance		6.2			(0.2	)		(6.2	)
Tax on repatriation of foreign earnings		2.7			(0.5	)		(8.4	)
Goodwill impairment and basis adjustments		(1.0	)		—			(41.8	)
Other		(0.7	)		—			0.6

		36.0	%		22.2	%		7.9	%

Schedule of significant components of deferred tax assets and liabilities

	As of December 31,
	2014			2013
Deferred tax assets:
NOL and credit carryforwards	$	266.2		$	229.8
Pension, other postretirement and postemployment benefits		116.9			95.5
Payroll and compensation		67.5			63.5
Legal, environmental and self-insurance accruals		45.8			42.3
Working capital accruals		34.7			26.8
Other		47.5			45.1

Total deferred tax assets		578.6			503.0
Valuation allowance		(152.9	)		(149.3	)

Net deferred tax assets		425.7			353.7

Deferred tax liabilities:
Intangible assets recorded in acquisitions		277.3			285.9
Basis difference in affiliates		184.2			152.1
Accelerated depreciation		64.8			69.3
Other		36.5			25.8

Total deferred tax liabilities		562.8			533.1

	$	(137.1	)	$	(179.4	)

Schedule of changes in the balance of unrecognized tax benefits

	Year ended December 31,
	2014			2013			2012
Unrecognized tax benefit — opening balance	$	128.4		$	108.4		$	120.4
Gross increases — tax positions in prior period		3.7			0.5			20.6
Gross decreases — tax positions in prior period		(36.9	)		(2.3	)		(33.9	)
Gross increases — tax positions in current period		11.7			28.4			11.2
Settlements		(28.2	)		(1.1	)		(7.1	)
Lapse of statute of limitations		(14.7	)		(5.5	)		(2.7	)
Change due to foreign currency exchange rates		(0.7	)		—			(0.1	)

Unrecognized tax benefit — ending balance	$	63.3		$	128.4		$	108.4

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References+ Details

Indebtedness (Tables)

12 Months Ended

Dec. 31, 2014

Indebtedness

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

	December 31, 2013		Borrowings		Repayments			Other(4)		December 31, 2014
Domestic revolving loan facility	$	—	$	472.0	$	(339.0	)	$	—	$	133.0
Term loan		475.0		100.0		—			—		575.0
6.875% senior notes, due in August 2017		600.0		—		—			—		600.0
7.625% senior notes(1)		500.0		—		(500.0	)		—		—
Trade receivables financing arrangement(2)		—		91.0		(81.0	)		—		10.0
Other indebtedness(3)		100.6		12.7		(64.7	)		3.1		51.7

Total debt		1,675.6	$	675.7	$	(984.7	)	$	3.1		1,369.7


Less: short-term debt		26.9									181.1
Less: current maturities of long-term debt		558.7									30.8

Total long-term debt	$	1,090.0								$	1,157.8

(1)	As noted below, we completed the redemption of all the 7.625% senior notes during the first quarter of 2014.
(2)	Under this arrangement, we can borrow, on a continuous basis, up to $80.0, as available. At December 31, 2014, we had $70.0 of available borrowing capacity under this facility after giving effect to outstanding borrowings of $10.0.
(3)	Primarily included capital lease obligations of $13.6 and $73.0 and balances under purchase card programs of $32.1 and $25.4 at December 31, 2014 and 2013, respectively. During 2014, we purchased our corporate headquarters facility for cash consideration of $60.8, resulting in the extinguishment of the related capital lease obligation.
(4)	"Other" primarily included debt assumed and foreign currency translation on any debt instruments denominated in currencies other than the U.S. dollar.

Schedule of per annum 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 Loans			ABR Loans
Greater than or equal to 3.00 to 1.00		0.35	%		0.35	%		2.00	%		0.35	%		1.25	%		2.00	%		1.00	%
Between 2.00 to 1.00 and 3.00 to 1.00		0.30	%		0.30	%		1.75	%		0.30	%		1.00	%		1.75	%		0.75	%
Between 1.50 to 1.00 and 2.00 to 1.00		0.275	%		0.275	%		1.50	%		0.275	%		0.875	%		1.50	%		0.50	%
Between 1.00 to 1.00 and 1.50 to 1.00		0.25	%		0.25	%		1.375	%		0.25	%		0.80	%		1.375	%		0.375	%
Less than 1.00 to 1.00		0.225	%		0.225	%		1.25	%		0.225	%		0.75	%		1.25	%		0.25	%

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Derivative financial instruments

Summary of the gross and net fair values of contracts by counterparty

	December 31, 2014								December 31, 2013
	Gross Assets		Gross Liabilities			Net Assets / Liabilities			Gross Assets		Gross Liabilities			Net Assets / Liabilities
FX Forward Contracts:
Counterparty A	$	—	$	(0.1	)	$	(0.1	)	$	0.7	$	(0.1	)	$	0.6
Counterparty B		0.3		(3.5	)		(3.2	)		0.1		(0.4	)		(0.3	)
Aggregate of other counterparties		0.5		(1.8	)		(1.3	)		0.3		—			0.3

Totals(1)	$	0.8	$	(5.4	)	$	(4.6	)	$	1.1	$	(0.5	)	$	0.6


Commodity Contracts:
Counterparty A(2)	$	—	$	(1.4	)	$	(1.4	)	$	0.4	$	—		$	0.4

(1)

		December 31, 2014			December 31, 2013
Designated as hedging instruments:
Other current assets		$	—		$	0.3
Accrued expenses			(0.1	)		—
Other long-term liabilities			(0.1	)		—

			(0.2	)		0.3

Not designated as hedging instruments:
Other current assets			—			0.6
Accrued expenses			(4.4	)		(0.3	)

			(4.4	)		0.3

Net fair value of FX forward contracts		$	(4.6	)	$	0.6


(2)	Related contracts are designated as hedging instruments. Net amounts at December 31, 2014 and 2013 are recorded in "Accrued expenses" and "Other current assets," respectively.

Summary of pre-tax gain (loss) recognized in AOCI resulting from derivative financial instruments designated as cash flow hedging relationships

	Year ended December 31,
	2014			2013			2012
FX forward contracts	$	0.4		$	(0.3	)	$	(0.4	)
Commodity contracts		(2.5	)		(1.2	)		0.4

	$	(2.1	)	$	(1.5	)	$	—

Summary of pre-tax loss related to derivative financial instruments designated as cash flow hedging relationships reclassified from AOCI to income

	Year ended December 31,
	2014			2013(1)			2012(1)
FX forward contracts	$	(0.8	)	$	(4.0	)	$	(0.7	)
Commodity contracts		(0.7	)		(1.3	)		(0.8	)

	$	(1.5	)	$	(5.3	)	$	(1.5	)

(1)	For the years ended December 31, 2013 and 2012, losses of $0.2 and $0.4, respectively, were recognized in "Other income (expense), net" relating to derivative ineffectiveness and amounts excluded from effectiveness testing.

Schedule of gain (loss) recognized in ''Other income (expense), net'' of derivative financial instruments not designated as cash flow hedging relationships

	Year ended December 31,
	2014			2013		2012
FX forward contracts	$	(7.8	)	$	0.1	$	0.6
FX embedded derivatives		5.4			0.6		(0.4	)

	$	(2.4	)	$	0.7	$	0.2

FX forward contracts

Derivative financial instruments

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

	December 31, 2014			December 31, 2013
Designated as hedging instruments:
Other current assets	$	—		$	0.3
Accrued expenses		(0.1	)		—
Other long-term liabilities		(0.1	)		—

		(0.2	)		0.3

Not designated as hedging instruments:
Other current assets		—			0.6
Accrued expenses		(4.4	)		(0.3	)

		(4.4	)		0.3

Net fair value of FX forward contracts	$	(4.6	)	$	0.6

FX embedded derivatives

Derivative financial instruments

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

Balance Sheet Classification	December 31, 2014			December 31, 2013
Other current assets	$	5.1		$	0.7
Other assets		1.2			—
Accrued expenses		(4.7	)		(6.5	)
Other long-term liabilities		(0.9	)		(2.1	)

	$	0.7		$	(7.9	)

Commitments, Contingent Liabilities and Other Matters (Tables)

12 Months Ended

Dec. 31, 2014

Commitments, Contingent Liabilities and Other Matters

Schedule of future minimum rental payments under operating leases with remaining non-cancelable terms in excess of one year

Year Ending December 31,
2015	$	36.5
2016		24.7
2017		16.9
2018		12.1
2019		9.0
Thereafter		29.7

Total minimum payments	$	128.9

Schedule of future minimum lease payments under capital lease obligations

Year Ending December 31,
2015	$	3.4
2016		1.8
2017		1.5
2018		5.3
2019		0.8
Thereafter		4.2

Total minimum payments		17.0
Less: interest		(3.4	)

Capital lease obligations as of December 31, 2014		13.6
Less: current maturities as of December 31, 2014		(2.0	)

Long-term portion as of December 31, 2014	$	11.6

Schedule of assets held through capital leases agreements

	December 31,
	2014			2013
Buildings	$	17.4		$	70.3
Machinery and equipment		12.5			12.7
Land		—			6.0
Other		3.3			3.6

Total		33.2			92.6
Less: accumulated depreciation		(11.5	)		(11.4	)

Net book value	$	21.7		$	81.2

Shareholders' Equity and Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Shareholders' Equity and Stock-Based Compensation

Computations of the components used for the calculation of basic and diluted income per share

	Year ended December 31,
	2014			2013		2012
Numerator:
Income (loss) from continuing operations	$	380.1		$	211.3	$	(165.2	)
Less: Net income (loss) attributable to noncontrolling interests		(9.5	)		2.2		3.0

Income (loss) from continuing operations attributable to SPX Corporation common shareholders for calculating basic and diluted income per share	$	389.6		$	209.1	$	(168.2	)


Income from discontinued operations	$	8.3		$	1.3	$	348.4
Less: Net income (loss) attributable to noncontrolling interest		—			0.2		(0.2	)

Income from discontinued operations attributable to SPX Corporation common shareholders for calculating basic and diluted income per share	$	8.3		$	1.1	$	348.6


Denominator:
Weighted-average number of common shares used in basic income per share		42.400			45.384		50.031
Dilutive securities — Employee stock options, restricted stock shares and restricted stock units		0.631			0.622		—

Weighted-average number of common shares and dilutive securities used in diluted income per share		43.031			46.006		50.031

Summary of common shares issued, treasury shares and shares outstanding

	Common Stock Issued		Treasury Stock			Shares Outstanding
Balance at December 31, 2011		98.702		(47.629	)		51.073
Stock options exercised		0.174		—			0.174
Share repurchases		—		(3.606	)		(3.606	)
Restricted stock shares and restricted stock units		0.311		0.085			0.396
Other		0.267		—			0.267

Balance at December 31, 2012		99.454		(51.150	)		48.304
Stock options exercised		0.008		—			0.008
Share repurchases		—		(3.493	)		(3.493	)
Restricted stock shares and restricted stock units		0.133		0.123			0.256
Other		0.206		—			0.206

Balance at December 31, 2013		99.801		(54.520	)		45.281
Share repurchases		—		(4.852	)		(4.852	)
Restricted stock shares and restricted stock units		0.096		0.166			0.262
Other		0.167		—			0.167

Balance at December 31, 2014		100.064		(59.206	)		40.858

Schedule of assumptions to determine 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 the Applicable S&P Index
January 2, 2014:
SPX Corporation		33.7	%		1.02	%		0.76	%		0.7631
S&P Composite 1500 Industrials Index		19.9	%		n/a			0.76	%
April 1, 2013:
SPX Corporation		35.5	%		1.29	%		0.33	%		0.7668
S&P Composite 1500 Industrials Index		21.2	%		n/a			0.33	%
January 2, 2013:
SPX Corporation		36.3	%		1.42	%		0.37	%		0.7778
S&P Composite 1500 Industrials Index		22.4	%		n/a			0.37	%
January 3, 2012:
SPX Corporation		44.3	%		1.60	%		0.44	%		0.7365
S&P 500 Index		23.1	%		n/a			0.44	%

Schedule of restricted stock share and restricted stock unit activity

	Unvested Restricted Stock Shares and Restricted Stock Units			Weighted-Average Grant-Date Fair Value Per Share
Outstanding at December 31, 2011		1.440		$	54.38
Granted		0.823			50.64
Vested		(0.264	)		39.75
Forfeited		(0.064	)		57.77

Outstanding at December 31, 2012		1.935			54.70
Granted		0.652			61.66
Vested		(0.754	)		54.34
Forfeited		(0.296	)		52.20

Outstanding at December 31, 2013		1.537			58.39
Granted		0.519			86.99
Vested		(0.604	)		59.49
Forfeited		(0.284	)		63.76

Outstanding at December 31, 2014		1.168			69.22

Schedule of stock option activity

	Shares			Weighted- Average Exercise Price
Options outstanding and exercisable at December 31, 2011		0.364		$	54.87
Exercised		(0.174	)		39.58
Terminated		(0.177	)		69.42

Options outstanding and exercisable at December 31, 2012		0.013			62.45
Exercised		(0.008	)		50.79
Terminated		(0.005	)		85.36

Options outstanding and exercisable at December 31, 2013		—			—

Schedule of changes in the components of accumulated other comprehensive income

The changes in the components of accumulated other comprehensive income, net of tax, for the year ended December 31, 2014 were as follows:

	Foreign Currency Translation Adjustment			Net Unrealized Losses on Qualifying Cash Flow Hedges(1)			Net Unrealized Losses on Available-for- Sale Securities			Pension and Postretirement Liability Adjustment and Other(2)			Total
Balance at December 31, 2013	$	296.8		$	(0.8	)	$	(3.7	)	$	(4.8	)	$	287.5
Other comprehensive income (loss) before reclassifications		(237.8	)		(1.6	)		3.6			4.9			(230.9	)
Amounts reclassified from accumulated other comprehensive income		—			1.1			0.1			4.8			6.0

Current-period other comprehensive income (loss)		(237.8	)		(0.5	)		3.7			9.7			(224.9	)

Balance at December 31, 2014	$	59.0		$	(1.3	)	$	—		$	4.9		$	62.6

(1)

Net of tax benefit of $1.1 and $1.0 as of December 31, 2014 and 2013, respectively.

(2)

The changes in the components of accumulated other comprehensive income, net of tax, for the year ended December 31, 2013 were as follows:

	Foreign Currency Translation Adjustment		Net Unrealized Losses on Qualifying Cash Flow Hedges(1)			Net Unrealized Losses on Available-for- Sale Securities			Pension and Postretirement Liability Adjustment and Other(2)			Total
Balance at December 31, 2012	$	293.8	$	(3.3	)	$	(3.1	)	$	(2.6	)	$	284.8
Other comprehensive income (loss) before reclassifications		3.0		(1.0	)		(0.6	)		(1.2	)		0.2
Amounts reclassified from accumulated other comprehensive income		—		3.5			—			(1.0	)		2.5

Current-period other comprehensive income (loss)		3.0		2.5			(0.6	)		(2.2	)		2.7

Balance at December 31, 2013	$	296.8	$	(0.8	)	$	(3.7	)	$	(4.8	)	$	287.5

(1)	Net of tax benefit of $1.0 and $2.5 as of December 31, 2013 and 2012, respectively.
(2)	Net of tax benefit of $2.2 and $1.2 as of December 31, 2013 and 2012, respectively. Includes $(5.0) and $(3.8), net of tax, related to our share of the pension liability adjustment for EGS as of December 31, 2013 and 2012, respectively, and $0.2 and $1.2, net of tax, of unamortized prior service credits as of December 31, 2013 and 2012, respectively.

Schedule of amounts reclassified from each component of accumulated comprehensive income (loss)

	Amount Reclassified from AOCI						Affected Line Items in the Consolidated Statements of Operations
	Year ended December 31,
	2014			2013
Losses on qualifying cash flow hedges:
FX forward contracts	$	0.8		$	4.0		Revenues
Commodity contracts		0.7			1.3		Cost of products sold

Pre-tax		1.5			5.3
Income taxes		(0.4	)		(1.8	)

	$	1.1		$	3.5


Pension and postretirement items:
Recognition of our share of the pension liability adjustment for EGS	$	7.4		$	—		Other income (expense), net
Amortization of unrecognized prior service credits		—			(0.1	)	Cost of products sold
Amortization of unrecognized prior service credits		(0.3	)		(1.3	)	Selling, general and administrative

Pre-tax		7.1			(1.4	)
Income taxes		(2.3	)		0.4

	$	4.8		$	(1.0	)

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

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-Number 210

-Section 02

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-Article 5

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+ Details

Fair Value (Tables)

12 Months Ended

Dec. 31, 2014

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 December 31, 2014:

	Fair Value Measurements Using
	Level 1		Level 2		Level 3
Other current assets — FX embedded derivatives	$	—	$	5.1	$	—
Other assets — FX embedded derivatives and investment in equity securities		—		1.2		7.4
Accrued expenses — FX forward contracts, FX embedded derivatives and commodity contracts		—		10.6		—
Other long-term liabilities — FX embedded derivatives and FX forward contracts		—		1.0		—

Assets and liabilities measured at fair value on a recurring basis include the following as of December 31, 2013:

	Fair Value Measurements Using
	Level 1		Level 2		Level 3
Other current assets — FX embedded derivatives, FX forward contracts and commodity contracts	$	—	$	2.0	$	—
Other assets — Investments in equity securities		3.0		—		1.4
Accrued expenses — FX forward contracts and FX embedded derivatives		—		6.8		—
Other long-term liabilities — FX embedded derivatives		—		2.1		—

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

	Reconciliation of Equity Securities using Significant Unobservable Inputs (Level 3)
Balance at December 31, 2012	$	7.5
Cash consideration received and other		(5.2	)
Unrealized losses recorded to earnings		(0.9	)

Balance at December 31, 2013		1.4
Unrealized gains recorded to earnings		6.0

Balance at December 31, 2014	$	7.4

Schedule of estimated fair values of other financial liabilities (excluding capital leases) not measured at fair value on a recurring basis

	December 31, 2014				December 31, 2013
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Senior notes	$	600.0	$	665.3	$	1,100.0	$	1,214.3
Term loan		575.0		575.0		475.0		475.0
Other indebtedness		181.1		181.1		27.6		27.6

- 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 (loss), 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, issues, 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

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References+ Details

Quarterly Results (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2014

Quarterly Results (Unaudited)

Schedule of quarterly results

	First(3)						Second					Third						Fourth(3)
	2014			2013			2014			2013		2014			2013			2014			2013
Operating revenues	$	1,077.1		$	1,100.8		$	1,195.1		$	1,180.9	$	1,171.2		$	1,162.7		$	1,277.7		$	1,328.9
Gross profit		301.5			297.3			347.2			338.5		347.4			344.0			367.5			401.2
Income (loss) from continuing operations, net of tax(1)		296.7			16.1			56.7			43.5		66.7			66.6			(40.0	)		85.1
Income (loss) from discontinued operations, net of tax(2)		21.1			(6.1	)		(6.7	)		3.7		(2.9	)		1.9			(3.2	)		1.8

Net income (loss)		317.8			10.0			50.0			47.2		63.8			68.5			(43.2	)		86.9
Less: Net income (loss) attributable to noncontrolling interests		(0.4	)		1.3			(1.2	)		2.0		0.3			(0.8	)		(8.2	)		(0.1	)

Net income (loss) attributable to SPX Corporation common shareholders	$	318.2		$	8.7		$	51.2		$	45.2	$	63.5		$	69.3		$	(35.0	)	$	87.0


Basic income (loss) per share of common stock:
Continuing operations, net of tax	$	6.72		$	0.32		$	1.34		$	0.91	$	1.59		$	1.51		$	(0.78	)	$	1.90
Discontinued operations, net of tax		0.47			(0.13	)		(0.15	)		0.08		(0.07	)		0.04			(0.08	)		0.04

Net income (loss)	$	7.19		$	0.19		$	1.19		$	0.99	$	1.52		$	1.55		$	(0.86	)	$	1.94


Diluted income (loss) per share of common stock:
Continuing operations, net of tax	$	6.59		$	0.32		$	1.32		$	0.90	$	1.57		$	1.50		$	(0.78	)	$	1.87
Discontinued operations, net of tax		0.47			(0.14	)		(0.15	)		0.08		(0.07	)		0.04			(0.08	)		0.04

Net income (loss)	$	7.06		$	0.18		$	1.17		$	0.98	$	1.50		$	1.54		$	(0.86	)	$	1.91

Note: The sum of the quarters' income per share may not equal the full year per share amounts.

(1)

(2)

(3)

Summary of Significant Accounting Policies (Detail) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 item	Dec. 31, 2013	Dec. 31, 2012
Foreign Currency Translation and Transactions
Foreign currency transaction (gain) loss	$ 7.1	$ 15.6	$ 12.4
Revenue Recognition
Number of business units in which sales incentive programs are significant	1
Revenues recognized under percentage of completion method	1,206.4	1,343.8	1,594.7
Costs and estimated earnings on uncompleted contracts
Costs incurred on uncompleted contracts	3,232.6	3,767.4
Estimated earnings to date	591.1	813.2
Aggregate costs incurred on uncompleted contracts and estimated earnings to date	3,823.7	4,580.6
Less: Billings to date	(3,765.5)	(4,517.9)
Net costs and estimated earnings in excess of billings after the acquisition of Clyde Union (Holdings) S.A.R.L. ("Clyde Union")	58.2	62.7
Net costs and estimated earnings in excess of billings assumed in the acquisition of Clyde Union (Holdings) S.A.R.L. ("Clyde Union")		4.2
Net costs and estimated earnings in excess of billings	58.2	66.9
Billings in excess of costs and estimated earnings
Costs and estimated earnings in excess of billings	237.1	285.3
Billings in excess of costs and estimated earnings on uncompleted contracts	(178.9)	(218.4)
Net costs and estimated earnings in excess of billings	58.2	66.9
Research and Development Costs
Research and development expense	51.1	47.3	49.0
Property, plant and equipment
Depreciation expense, including amortization of capital leases	77.4	82.1	73.7
Interest capitalized	$ 0	$ 0	$ 0.5
Minimum
Property, plant and equipment
Period for receivables to be collected which are not significant	1 year
Buildings \| Maximum
Property, plant and equipment
Useful lives of property, plant and equipment (in years)	40 years
Machinery and equipment \| Minimum
Property, plant and equipment
Useful lives of property, plant and equipment (in years)	3 years
Machinery and equipment \| Maximum
Property, plant and equipment
Useful lives of property, plant and equipment (in years)	15 years

Use of Estimates (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Accrued Expenses
Employee benefits	$ 219.6	$ 215.3
Unearned revenue	375.4	460.9
Warranty	38.3	42.4	49.9
Other	259.0	272.2
Total	892.3	990.8
Analysis of product warranty accrual
Balance at beginning of year	55.1	60.0	55.9
Acquisition			3.7
Provisions	34.9	31.4	24.9
Usage	(32.0)	(36.4)	(25.0)
Currency translation adjustment	(2.0)	0.1	0.5
Balance at end of year	56.0	55.1	60.0
Less: Current portion of warranty	38.3	42.4	49.9
Non-current portion of warranty	17.7	12.7	10.1
Allowance for Doubtful Accounts
Accounts Receivable Allowances
Balance at beginning of year	46.4	50.2	40.8
Allowances provided	30.9	23.8	27.9
Write-offs, net of recoveries, credits issued and other	(40.5)	(27.6)	(18.5)
Balance at end of year	$ 36.8	$ 46.4	$ 50.2

Acquisitions, Discontinued Operations and Formation of Shanghai Electric JV (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended				0 Months Ended
	Dec. 31, 2014 item	Dec. 31, 2013 item	Dec. 31, 2012	Mar. 31, 2012 Seital	Mar. 21, 2012 Flow Technology Reportable Segment Seital	Mar. 21, 2012 Flow Technology Reportable Segment Seital
Acquisitions
Number of acquisitions	0	0
Purchase price of the business acquired		$ 2.9	$ 34.3		$ 28.8
Cash acquired in business acquisition						2.5
Debt assumed in business acquisition						0.8
Revenues of the acquired business for the prior twelve months				$ 14.0

Acquisitions, Discontinued Operations and Formation of Shanghai Electric JV (Details 2)	3 Months Ended								12 Months Ended				12 Months Ended		3 Months Ended				12 Months Ended															0 Months Ended	1 Months Ended		3 Months Ended	12 Months Ended
	Dec. 31, 2014 USD ($)	Sep. 27, 2014 USD ($)	Jun. 28, 2014 USD ($)	Mar. 29, 2014 USD ($)	Dec. 31, 2013 USD ($)	Sep. 28, 2013 USD ($)	Jun. 29, 2013 USD ($)	Mar. 30, 2013 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Dec. 30, 2011 Shanghai Electric JV	Dec. 31, 2014 Fenn USD ($)	Dec. 31, 2014 Precision Components USD ($)	Dec. 31, 2014 TPS USD ($)	Sep. 27, 2014 TPS USD ($)	Jun. 28, 2014 TPS USD ($)	Mar. 29, 2014 TPS USD ($)	Dec. 31, 2014 TPS USD ($)	Dec. 31, 2013 Dielectric USD ($)	Dec. 31, 2013 Dielectric Maximum USD ($)	Dec. 31, 2013 Kayex USD ($)	Dec. 31, 2012 Tianyu USD ($)	Dec. 31, 2012 Tianyu CNY	Dec. 31, 2014 Weil McLain Shandong USD ($)	Dec. 31, 2013 Weil McLain Shandong USD ($)	Dec. 31, 2012 Weil McLain Shandong USD ($)	Dec. 31, 2014 SPX Service Solutions ("Service Solutions") USD ($)	Dec. 31, 2013 SPX Service Solutions ("Service Solutions") USD ($)	Dec. 31, 2012 SPX Service Solutions ("Service Solutions") USD ($)	Dec. 31, 2014 Other businesses sold prior to the earliest date presented in the financial statements USD ($)	Dec. 31, 2013 Other businesses sold prior to the earliest date presented in the financial statements USD ($)	Dec. 31, 2012 Other businesses sold prior to the earliest date presented in the financial statements USD ($)	Dec. 30, 2011 Certain assets of dry cooling products business Shanghai Electric JV CNY	Dec. 31, 2012 Certain assets of dry cooling products business Shanghai Electric JV CNY	Jan. 31, 2012 Certain assets of dry cooling products business Shanghai Electric JV CNY	Mar. 31, 2012 Certain assets of dry cooling products business Shanghai Electric JV USD ($)	Dec. 31, 2013 Certain assets of dry cooling products business Shanghai Electric JV CNY
Discontinued Operations
Cash consideration, exclusive of cash transferred									$ 108,600,000	$ 13,500,000	$ 1,133,400,000		$ 3,500,000	$ 62,600,000				$ 42,500,000	$ 42,500,000	$ 4,700,000				1			$ 2,700,000
Gain (loss) on sale of business, net of tax									13,300,000	(4,000,000)	313,400,000		(400,000)	(6,900,000)	200,000	200,000	200,000	21,500,000	21,700,000		100,000	1,300,000	(1,800,000)				2,200,000			313,400,000
Cash consideration, gross																						6,900,000								1,134,900,000				96,700,000	25,800,000	51,500,000		19,400,000
Cash transferred with discontinued business																							1,100,000				3,100,000
Adjustment to gain or loss on sale of discontinued operations, net of tax																									(1,100,000)	(400,000)		2,100,000	(300,000)		(2,100,000)	(4,600,000)	(400,000)
Working capital settlement														400,000												1,100,000			800,000
Income from discontinued operations and related income taxes
Income from discontinued operations									22,100,000	3,600,000	612,700,000
Income tax provision									(13,800,000)	(2,300,000)	(264,300,000)
Income from discontinued operations, net of tax	(3,200,000)	(2,900,000)	(6,700,000)	21,100,000	1,800,000	1,900,000	3,700,000	(6,100,000)	8,300,000	1,300,000	348,400,000
Results of operations for discontinued operations
Revenues									27,700,000	148,900,000	1,030,600,000
Pre-tax income (loss)									(6,100,000)	7,000,000	57,100,000
Assets:
Accounts receivable, net					19,100,000					19,100,000
Inventories, net					33,900,000					33,900,000
Other current assets					1,100,000					1,100,000
Property, plant and equipment, net					12,100,000					12,100,000
Goodwill and intangibles, net					34,700,000					34,700,000
Assets of discontinued operations					100,900,000					100,900,000
Liabilities:
Accounts payable					10,400,000					10,400,000
Accrued expenses					17,000,000					17,000,000
Liabilities of discontinued operations					27,400,000					27,400,000
Other information
Interest acquired in joint venture (as a percent)												45.00%
Net gain associated with deconsolidation																																					$ 20,500,000

Information on Reportable Segments and Other Operating Segments (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended								12 Months Ended																														12 Months Ended							12 Months Ended															3 Months Ended		12 Months Ended
	Dec. 31, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 29, 2014	Dec. 31, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 30, 2013	Dec. 31, 2014 segment	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014 United States	Dec. 31, 2013 United States	Dec. 31, 2012 United States	Dec. 31, 2014 United Kingdom	Dec. 31, 2013 United Kingdom	Dec. 31, 2012 United Kingdom	Dec. 31, 2014 Germany	Dec. 31, 2013 Germany	Dec. 31, 2012 Germany	Dec. 31, 2014 China	Dec. 31, 2013 China	Dec. 31, 2012 China	Dec. 31, 2014 South Africa	Dec. 31, 2013 South Africa	Dec. 31, 2012 South Africa	Dec. 31, 2014 Other	Dec. 31, 2013 Other	Dec. 31, 2012 Other	Dec. 31, 2014 Continuing operations	Dec. 31, 2013 Continuing operations	Dec. 31, 2012 Continuing operations	Dec. 31, 2014 Continuing operations United States	Dec. 31, 2013 Continuing operations United States	Dec. 31, 2012 Continuing operations United States	Dec. 31, 2014 Continuing operations Other	Dec. 31, 2013 Continuing operations Other	Dec. 31, 2012 Continuing operations Other	Dec. 31, 2014 Discontinued operations	Dec. 31, 2013 Discontinued operations	Dec. 31, 2012 Discontinued operations	Dec. 31, 2013 EGS Electrical Group, LLC and Subsidiaries ("EGS")	Dec. 31, 2012 EGS Electrical Group, LLC and Subsidiaries ("EGS")	Mar. 29, 2014 EGS Electrical Group, LLC and Subsidiaries ("EGS")	Jan. 07, 2014 EGS Electrical Group, LLC and Subsidiaries ("EGS")	Dec. 31, 2014 General corporate	Dec. 31, 2013 General corporate	Dec. 31, 2012 General corporate	Dec. 31, 2014 Reportable and other operating segments	Dec. 31, 2013 Reportable and other operating segments	Dec. 31, 2012 Reportable and other operating segments	Dec. 31, 2014 Flow Technology Reportable Segment	Dec. 31, 2013 Flow Technology Reportable Segment	Dec. 31, 2012 Flow Technology Reportable Segment	Dec. 31, 2014 Flow Technology Reportable Segment Reportable and other operating segments	Dec. 31, 2013 Flow Technology Reportable Segment Reportable and other operating segments	Dec. 31, 2012 Flow Technology Reportable Segment Reportable and other operating segments	Dec. 31, 2014 Thermal Equipment and Services reportable segment	Dec. 31, 2013 Thermal Equipment and Services reportable segment	Dec. 31, 2012 Thermal Equipment and Services reportable segment	Dec. 31, 2014 Thermal Equipment and Services reportable segment South Africa	Jun. 28, 2014 Thermal Equipment and Services reportable segment South Africa	Dec. 31, 2014 Thermal Equipment and Services reportable segment South Africa	Dec. 31, 2014 Thermal Equipment and Services reportable segment Reportable and other operating segments	Dec. 31, 2013 Thermal Equipment and Services reportable segment Reportable and other operating segments	Dec. 31, 2012 Thermal Equipment and Services reportable segment Reportable and other operating segments	Dec. 31, 2014 Industrial Products and Services and Other	Dec. 31, 2013 Industrial Products and Services and Other	Dec. 31, 2012 Industrial Products and Services and Other	Dec. 31, 2014 Industrial Products and Services and Other Reportable and other operating segments	Dec. 31, 2013 Industrial Products and Services and Other Reportable and other operating segments	Dec. 31, 2012 Industrial Products and Services and Other Reportable and other operating segments	Dec. 31, 2014 Minimum country
Business segment
Number of countries in which entity operates																																																																									35
Number of countries in which entity sells its products and services																																																																									150
Estimated sales revenue percentage generated from emerging market									27.00%
Number of reportable segments									2
Percentage of interest held in joint venture																																										44.50%		44.50%	44.50%
Revenues:
Revenues	$ 1,277.7	$ 1,171.2	$ 1,195.1	$ 1,077.1	$ 1,328.9	$ 1,162.7	$ 1,180.9	$ 1,100.8	$ 4,721.1	$ 4,773.3	$ 4,894.6	$ 2,233.9	$ 2,213.3	$ 2,230.8	$ 452.0	$ 499.6	$ 545.2	$ 311.9	$ 306.2	$ 358.5	$ 278.4	$ 235.9	$ 232.3	$ 137.3	$ 266.3	$ 322.4	$ 1,307.6	$ 1,252.0	$ 1,205.4																							$ 2,596.1	$ 2,638.0	$ 2,682.2				$ 1,329.9	$ 1,344.2	$ 1,490.9							$ 795.1	$ 791.1	$ 721.5
Reduction in revenue and segment income																																																													25.0	8.3	33.3
Income:
Corporate expense																																														106.8	110.8	108.8
Pension and postretirement expense (income)									113.8	(17.7)	158.0
Stock-based compensation									38.4	32.9	38.9
Impairment of goodwill and other long-term assets									38.1	6.7	285.9
Special charges, net									23.1	32.3	23.4																												0	4.4	0.7											13.8	14.2	18.9				6.4	16.3	7.6							2.3	1.2	0.3
Operating income (loss)									201.9	345.1	(123.9)																																						522.1	510.1	491.1				361.9	308.3	285.1							52.4	81.9	106.7				107.8	119.9	99.3
Capital expenditures:
Total capital expenditures									61.1	55.1	81.8																																			10.3	16.6	25.9				34.8	21.0	25.6				9.1	7.2	10.9							6.9	10.3	19.4
Depreciation and amortization:
Depreciation, Depletion and Amortization									109.2	115.1	107.8																															11.0	10.4			10.9	8.4	6.1				62.8	68.3	63.8				20.3	22.5	22.0							15.2	15.9	15.9
Identifiable assets:
Total identifiable assets	5,902.2				6,856.2				5,902.2	6,856.2	7,130.1																													100.9	95.1					678.1	1,205.6	1,279.1				3,165.7	3,526.8	3,611.2				1,391.0	1,338.1	1,445.4							667.4	684.8	699.3
Tangible Long-Lived Assets:
Total tangible long-lived assets	$ 1,400.7				$ 1,657.9				$ 1,400.7	$ 1,657.9	$ 1,478.7																			$ 1,400.7	$ 1,645.8	$ 1,466.7	$ 956.1	$ 1,260.1	$ 1,156.5	$ 444.6	$ 385.7	$ 310.2		$ 12.1	$ 12.0

Special Charges, Net (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Special charges, net
Period for selling an asset	1 year
Period for settling liabilities	1 year
Restructuring charges
Employee Termination Costs	$ 19.8	$ 29.2	$ 22.6
Facility Consolidation Costs	0.9	1.0	2.4
Other Cash Costs Net	0.9	0.1	(4.4)
Non-Cash Asset Write-downs	1.5	2.0	2.8
Special charges, net	23.1	32.3	23.4
Expected charges to be incurred	2.0
Restructuring liabilities
Balance at beginning of period	19.0	16.4	11.0
Special charges	21.6	34.7	25.5
Utilization - cash	(26.2)	(32.4)	(20.1)
Currency translation adjustment and other	(0.1)	0.3
Balance at end of period	14.3	19.0	16.4
Non-cash special charges	1.5	2.0	3.4
Discontinued operations
Restructuring charges
Special charges, net	0	4.4	0.7
Restructuring liabilities
Utilization - cash	(0.7)	(3.6)	(1.0)
Corporate
Restructuring charges
Employee Termination Costs	0.6	0.1	0.7
Facility Consolidation Costs			0.1
Other Cash Costs Net		0.2	(4.5)
Non-Cash Asset Write-downs		0.3	0.3
Special charges, net	0.6	0.6	(3.4)
Number of terminated building leases		2
Corporate \| China
Restructuring charges
Gain on sale of land rights			4.8
Flow Technology Reportable Segment
Restructuring charges
Employee Termination Costs	11.2	11.8	16.2
Facility Consolidation Costs	0.6	1.0	1.8
Other Cash Costs Net	0.5	(0.3)
Non-Cash Asset Write-downs	1.5	1.7	0.9
Special charges, net	13.8	14.2	18.9
Number of employees expected to be terminated resulting from restructuring activities	100
Number of employees terminated resulting from restructuring activities		500	271
Thermal Equipment and Services reportable segment
Restructuring charges
Employee Termination Costs	5.7	16.3	5.7
Facility Consolidation Costs	0.3		0.2
Other Cash Costs Net	0.4		0.1
Non-Cash Asset Write-downs			1.6
Special charges, net	6.4	16.3	7.6
Number of employees expected to be terminated resulting from restructuring activities	80
Number of employees terminated resulting from restructuring activities		290	195
Industrial Products and Services and Other
Restructuring charges
Employee Termination Costs	2.3	1.0
Facility Consolidation Costs			0.3
Other Cash Costs Net		0.2
Special charges, net	$ 2.3	$ 1.2	$ 0.3
Number of employees terminated resulting from restructuring activities	37	40

Inventories, Net (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Inventories, Net
Finished goods	$ 138.2	$ 148.7
Work in process	158.6	165.1
Raw materials and purchased parts	220.5	213.0
Total FIFO cost	517.3	526.8
Excess of FIFO cost over LIFO inventory value	(19.5)	(20.9)
Total inventories, net	$ 497.8	$ 505.9
Domestic inventories, valued using the last-in, first-out ("LIFO") method, as a percentage of total inventory	18.00%	19.00%

- 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	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Changes in the carrying amount of goodwill
Gross goodwill, beginning of the period	$ 2,089.1	$ 2,078.0
Accumulated impairment, balance at the beginning of the period	(540.0)	(536.1)
Goodwill, balance at the beginning of the period	1,549.1	1,541.9
Gross goodwill related to foreign currency translation and other	(103.2)	11.1
Accumulated impairments related to foreign currency translation and other	9.5	(3.9)
Goodwill related to foreign currency translation and other	(93.7)	7.2
Gross goodwill, end of the period	1,985.9	2,089.1
Accumulated impairment, balance at the end of the period	(530.5)	(540.0)
Goodwill, balance at the end of the period	1,455.4	1,549.1
Flow Technology Reportable Segment
Changes in the carrying amount of goodwill
Gross goodwill, beginning of the period	1,120.2	1,114.6
Goodwill, balance at the beginning of the period	1,120.2	1,114.6
Gross goodwill related to foreign currency translation and other	(83.7)	5.6
Goodwill related to foreign currency translation and other	(83.7)	5.6
Gross goodwill, end of the period	1,036.5	1,120.2
Goodwill, balance at the end of the period	1,036.5	1,120.2
Thermal Equipment and Services reportable segment
Changes in the carrying amount of goodwill
Gross goodwill, beginning of the period	570.0	563.7
Accumulated impairment, balance at the beginning of the period	(399.5)	(395.7)
Goodwill, balance at the beginning of the period	170.5	168.0
Gross goodwill related to foreign currency translation and other	(16.7)	6.3
Accumulated impairments related to foreign currency translation and other	8.1	(3.8)
Goodwill related to foreign currency translation and other	(8.6)	2.5
Gross goodwill, end of the period	553.3	570.0
Accumulated impairment, balance at the end of the period	(391.4)	(399.5)
Goodwill, balance at the end of the period	161.9	170.5
Industrial Products and Services and Other
Changes in the carrying amount of goodwill
Gross goodwill, beginning of the period	398.9	399.7
Accumulated impairment, balance at the beginning of the period	(140.5)	(140.4)
Goodwill, balance at the beginning of the period	258.4	259.3
Gross goodwill related to foreign currency translation and other	(2.8)	(0.8)
Accumulated impairments related to foreign currency translation and other	1.4	(0.1)
Goodwill related to foreign currency translation and other	(1.4)	(0.9)
Gross goodwill, end of the period	396.1	398.9
Accumulated impairment, balance at the end of the period	(139.1)	(140.5)
Goodwill, balance at the end of the period	$ 257.0	$ 258.4

Goodwill and Other Intangible Assets (Details 2) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Intangible assets with determinable lives
Gross carrying value of finite-lived intangible assets	$ 612.4	$ 652.5
Accumulated amortization	(178.6)	(159.6)
Net carrying value of finite-lived intangible assets	433.8	492.9
Total intangible assets
Gross carrying value	1,009.6	1,087.9
Net carrying value	831.0	928.3
Amortization expense	31.8	33.0	34.1
Estimated amortization expense related to intangible assets
2015	30.7
2016	30.5
2017	29.8
2018	29.4
2019	28.0
Flow Technology Reportable Segment
Intangible assets with determinable lives
Net carrying value of finite-lived intangible assets	385.1
Intangible assets with indefinite lives
Trademarks	259.0
Thermal Equipment and Services reportable segment
Intangible assets with determinable lives
Net carrying value of finite-lived intangible assets	41.9
Intangible assets with indefinite lives
Trademarks	117.0
Industrial Products and Services and Other
Intangible assets with determinable lives
Net carrying value of finite-lived intangible assets	6.8
Intangible assets with indefinite lives
Trademarks	21.2
Trademarks
Intangible assets with indefinite lives
Trademarks	397.2	435.4
Customer relationships
Intangible assets with determinable lives
Gross carrying value of finite-lived intangible assets	388.6	413.4
Accumulated amortization	(91.7)	(80.0)
Net carrying value of finite-lived intangible assets	296.9	333.4
Technology
Intangible assets with determinable lives
Gross carrying value of finite-lived intangible assets	183.8	196.6
Accumulated amortization	(59.8)	(52.7)
Net carrying value of finite-lived intangible assets	124.0	143.9
Patents
Intangible assets with determinable lives
Gross carrying value of finite-lived intangible assets	11.3	11.5
Accumulated amortization	(8.8)	(8.3)
Net carrying value of finite-lived intangible assets	2.5	3.2
Other.
Intangible assets with determinable lives
Gross carrying value of finite-lived intangible assets	28.7	31.0
Accumulated amortization	(18.3)	(18.6)
Net carrying value of finite-lived intangible assets	$ 10.4	$ 12.4

Goodwill and Other Intangible Assets (Details 3) (USD $) In Millions, unless otherwise specified	12 Months Ended	3 Months Ended		12 Months Ended	3 Months Ended	12 Months Ended	3 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014 Flow Technology Reportable Segment Trademarks	Dec. 31, 2013 Flow Technology Reportable Segment Trademarks	Dec. 31, 2013 Flow Technology Reportable Segment Trademarks	Dec. 31, 2014 Thermal Equipment and Services reportable segment Trademarks	Dec. 31, 2012 Thermal Equipment and Services reportable segment Trademarks item	Dec. 31, 2014 Cooling	Dec. 31, 2014 Cooling	Dec. 31, 2012 Cooling
Intangible assets with determinable lives and indefinite lives
Percentage of fair value of goodwill in excess of carrying value for reporting units	10.00%
Impairment charges		$ 11.7	$ 4.7	$ 6.7	$ 8.4	$ 4.5	$ 18.0	$ 18.0	$ 11.0
Goodwill Impairments									270.4
Difference between the estimated fair value of acquired unit and the carrying value of its net assets									125.8
Tangible and intangible assets									$ 144.6
Number of business associated with impairment charge						2

Investments in Joint Ventures (Details) (USD $) In Millions, unless otherwise specified	0 Months Ended	3 Months Ended	12 Months Ended
	Jan. 07, 2014	Mar. 29, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jan. 07, 2014
Investment in joint venture under equity method investment
Depreciation and amortization			$ 109.2	$ 115.1	$ 107.8
SPX's equity earnings in EGS			1.4	42.2	38.6
EGS Electrical Group, LLC and Subsidiaries ("EGS")
Investment in joint venture under equity method investment
Percentage of interest held in joint venture		44.50%		44.50%		44.50%
Lag in including results in consolidated statements				3 months
Proceeds from sale of interest in joint venture	574.1	574.1
Gain on sale of interest in joint venture		491.2	491.2
Revenues				517.5	527.0
Gross profit				223.3	221.9
Income from continuing operations				89.4	87.9
Net income				89.4	87.9
Capital expenditures				13.3	12.0
Depreciation and amortization				11.0	10.4
Dividends received by SPX				30.3	35.2
Undistributed earnings attributable to SPX Corporation				20.0	8.4
SPX's equity earnings in EGS			0	41.9	39.0
Carrying value of investment				81.8
Condensed balance sheet information of EGS, assets
Current assets				180.4
Non-current assets				336.4
Condensed balance sheet information of EGS, liabilities
Current liabilities				108.0
Non-current liabilities				$ 24.0

Employee Benefit Plans (Details) In Millions, unless otherwise specified	3 Months Ended	12 Months Ended				12 Months Ended				12 Months Ended		12 Months Ended		12 Months Ended		12 Months Ended		12 Months Ended		12 Months Ended		12 Months Ended		0 Months Ended	3 Months Ended		12 Months Ended					12 Months Ended		12 Months Ended		12 Months Ended		12 Months Ended		12 Months Ended
	Mar. 29, 2014 USD ($) item	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($) item	Dec. 31, 2014 Pension plans	Dec. 31, 2013 Pension plans	Dec. 31, 2014 Domestic Pension Plans USD ($)	Dec. 31, 2013 Domestic Pension Plans USD ($)	Dec. 31, 2014 Domestic Pension Plans Fixed Income Common Trust Funds	Dec. 31, 2013 Domestic Pension Plans Fixed Income Common Trust Funds	Dec. 31, 2014 Domestic Pension Plans Commingled Global Fund Allocations	Dec. 31, 2013 Domestic Pension Plans Commingled Global Fund Allocations	Dec. 31, 2014 Domestic Pension Plans Corporate bonds	Dec. 31, 2013 Domestic Pension Plans Corporate bonds	Dec. 31, 2014 Domestic Pension Plans Global Equity Common Trust Funds	Dec. 31, 2013 Domestic Pension Plans Global Equity Common Trust Funds	Dec. 31, 2014 Domestic Pension Plans Global equities	Dec. 31, 2013 Domestic Pension Plans Global equities	Dec. 31, 2014 Domestic Pension Plans U.S. Government securities	Dec. 31, 2013 Domestic Pension Plans U.S. Government securities	Dec. 31, 2014 Domestic Pension Plans Short-term investments	Dec. 31, 2013 Domestic Pension Plans Short-term investments	Dec. 31, 2014 Domestic Pension Plans Other	Dec. 31, 2013 Domestic Pension Plans Other	Dec. 31, 2014 Foreign Pension Plans item	Dec. 31, 2014 Foreign Pension Plans USD ($)	Dec. 31, 2014 Foreign Pension Plans GBP (£)	Dec. 31, 2014 Foreign Pension Plans USD ($) item	Dec. 31, 2014 Foreign Pension Plans GBP (£)	Dec. 31, 2013 Foreign Pension Plans USD ($)	Dec. 31, 2014 Foreign Pension Plans Fixed Income Common Trust Funds	Dec. 31, 2013 Foreign Pension Plans Fixed Income Common Trust Funds	Dec. 31, 2014 Foreign Pension Plans Global Equity Common Trust Funds	Dec. 31, 2013 Foreign Pension Plans Global Equity Common Trust Funds	Dec. 31, 2014 Foreign Pension Plans Non-U.S. Government securities	Dec. 31, 2013 Foreign Pension Plans Non-U.S. Government securities	Dec. 31, 2014 Foreign Pension Plans Short-term investments	Dec. 31, 2013 Foreign Pension Plans Short-term investments	Dec. 31, 2014 Foreign Pension Plans Other	Dec. 31, 2013 Foreign Pension Plans Other	Dec. 31, 2014 Postretirement Plans USD ($)	Dec. 31, 2013 Postretirement Plans USD ($)
Employee benefit plans
Number of retirees assumed by third party for future pension payments			16,000																					900			900	900
Amount paid for obligations assumed by third party	$ 4.8		$ 663.7																						$ 123.3	£ 79.2	$ 123.3	£ 79.2
Obligations assumed by third party			609.0																						105.8	68.0
Settlement gain (loss) resulting from partial annuitization		4.8	4.8
Number of eligible former employees intended to be offered with voluntary single lump-sum payment option in lieu of a future pension benefit	7,100
Percentage of projected benefit obligation of the Plan settled as a result of lump-sum payments	38.00%
Projected benefit obligation of the Plan settled as a result of lump-sum payments	165.2
Settlement charge	4.6
Actuarial loss	(14.8)					(59.5)	49.8																				(55.3)		(9.6)											(14.2)	7.8
Settlement charges		$ 15.0				$ 160.4	$ 708.8																				$ 127.7
Number of shares of common stock held by defined benefit plans				0	0
Actual Allocations (as a percent)						100.00%	100.00%	53.00%	20.00%	12.00%	15.00%	12.00%	0.00%	11.00%	25.00%	4.00%	6.00%	4.00%	0.00%	3.00%	33.00%	1.00%	1.00%		100.00%	100.00%	100.00%	100.00%	100.00%	8.00%	40.00%	69.00%	43.00%	15.00%	14.00%	6.00%	2.00%	2.00%	1.00%
Mid-point of Target Allocation Range (as a percent)						100.00%		49.00%		18.00%		12.00%		10.00%		5.00%		4.00%		0.00%		2.00%					100.00%	100.00%		31.00%		44.00%		22.00%		1.00%		2.00%

Employee Benefit Plans (Details 2) (USD $) In Millions, unless otherwise specified	12 Months Ended																			12 Months Ended
	Dec. 31, 2014 Short-term investments	Dec. 31, 2014 Pension plans	Dec. 31, 2013 Pension plans	Dec. 31, 2014 Pension plans Global Equity Common Trust Funds	Dec. 31, 2013 Pension plans Global Equity Common Trust Funds	Dec. 31, 2014 Pension plans Global equity securities: Capital equipment	Dec. 31, 2013 Pension plans Global equity securities: Capital equipment	Dec. 31, 2014 Pension plans Global equity securities: Consumer goods	Dec. 31, 2013 Pension plans Global equity securities: Consumer goods	Dec. 31, 2014 Pension plans Global equity securities: Energy	Dec. 31, 2013 Pension plans Global equity securities: Energy	Dec. 31, 2014 Pension plans Global equity securities: Finance	Dec. 31, 2013 Pension plans Global equity securities: Finance	Dec. 31, 2014 Pension plans Global equity securities: Materials	Dec. 31, 2013 Pension plans Global equity securities: Materials	Dec. 31, 2014 Pension plans Global equity securities: Services	Dec. 31, 2013 Pension plans Global equity securities: Services	Dec. 31, 2014 Pension plans Global equities	Dec. 31, 2013 Pension plans Global equities	Dec. 31, 2013 Pension plans Fixed Income Common Trust Funds fund	Dec. 31, 2014 Pension plans Fixed Income Common Trust Funds	Dec. 31, 2012 Pension plans Fixed Income Common Trust Funds	Dec. 31, 2014 Pension plans Corporate bonds	Dec. 31, 2014 Pension plans Non-U.S. Government securities	Dec. 31, 2013 Pension plans Non-U.S. Government securities	Dec. 31, 2014 Pension plans U.S. Government securities	Dec. 31, 2014 Pension plans Commingled Global Fund Allocations	Dec. 31, 2013 Pension plans Commingled Global Fund Allocations	Dec. 31, 2014 Pension plans Short-term investments	Dec. 31, 2013 Pension plans Short-term investments	Dec. 31, 2014 Pension plans Other	Dec. 31, 2013 Pension plans Other	Dec. 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans	Dec. 31, 2013 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans	Dec. 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Global Equity Common Trust Funds	Dec. 31, 2013 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Global Equity Common Trust Funds	Dec. 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Global equity securities: Capital equipment	Dec. 31, 2013 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Global equity securities: Capital equipment	Dec. 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Global equity securities: Consumer goods	Dec. 31, 2013 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Global equity securities: Consumer goods	Dec. 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Global equity securities: Energy	Dec. 31, 2013 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Global equity securities: Energy	Dec. 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Global equity securities: Finance	Dec. 31, 2013 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Global equity securities: Finance	Dec. 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Global equity securities: Materials	Dec. 31, 2013 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Global equity securities: Materials	Dec. 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Global equity securities: Services	Dec. 31, 2013 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Global equity securities: Services	Dec. 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Global equities	Dec. 31, 2013 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Global equities	Dec. 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Fixed Income Common Trust Funds	Dec. 31, 2013 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Fixed Income Common Trust Funds	Dec. 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Corporate bonds	Dec. 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans U.S. Government securities	Dec. 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Commingled Global Fund Allocations	Dec. 31, 2013 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Commingled Global Fund Allocations	Dec. 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Short-term investments	Dec. 31, 2013 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Short-term investments	Dec. 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Other	Dec. 31, 2013 Quoted Prices in Active Markets for Identical Assets (Level 1) Pension plans Other	Dec. 31, 2014 Significant Observable Inputs (Level 2) Securities collateralized	Dec. 31, 2013 Significant Observable Inputs (Level 2) Securities collateralized	Dec. 31, 2014 Significant Observable Inputs (Level 2) Pension plans	Dec. 31, 2013 Significant Observable Inputs (Level 2) Pension plans	Dec. 31, 2014 Significant Observable Inputs (Level 2) Pension plans Global Equity Common Trust Funds	Dec. 31, 2013 Significant Observable Inputs (Level 2) Pension plans Global Equity Common Trust Funds	Dec. 31, 2014 Significant Observable Inputs (Level 2) Pension plans Fixed Income Common Trust Funds	Dec. 31, 2013 Significant Observable Inputs (Level 2) Pension plans Fixed Income Common Trust Funds	Dec. 31, 2014 Significant Observable Inputs (Level 2) Pension plans Non-U.S. Government securities	Dec. 31, 2013 Significant Observable Inputs (Level 2) Pension plans Non-U.S. Government securities	Dec. 31, 2014 Significant Observable Inputs (Level 2) Pension plans Commingled Global Fund Allocations	Dec. 31, 2013 Significant Observable Inputs (Level 2) Pension plans Commingled Global Fund Allocations	Dec. 31, 2014 Significant Unobservable Inputs (Level 3)	Dec. 31, 2013 Significant Unobservable Inputs (Level 3)	Dec. 31, 2012 Significant Unobservable Inputs (Level 3)	Dec. 31, 2014 Significant Unobservable Inputs (Level 3) Global Equity Common Trust Funds	Dec. 31, 2013 Significant Unobservable Inputs (Level 3) Global Equity Common Trust Funds	Dec. 31, 2012 Significant Unobservable Inputs (Level 3) Global Equity Common Trust Funds	Dec. 31, 2012 Significant Unobservable Inputs (Level 3) Fixed Income Common Trust Funds	Dec. 31, 2012 Significant Unobservable Inputs (Level 3) Commingled Global Fund Allocations	Dec. 31, 2014 Significant Unobservable Inputs (Level 3) Other	Dec. 31, 2013 Significant Unobservable Inputs (Level 3) Other	Dec. 31, 2012 Significant Unobservable Inputs (Level 3) Other	Dec. 31, 2014 Significant Unobservable Inputs (Level 3) Pension plans	Dec. 31, 2013 Significant Unobservable Inputs (Level 3) Pension plans	Dec. 31, 2014 Significant Unobservable Inputs (Level 3) Pension plans Global Equity Common Trust Funds	Dec. 31, 2013 Significant Unobservable Inputs (Level 3) Pension plans Global Equity Common Trust Funds	Dec. 31, 2014 Significant Unobservable Inputs (Level 3) Pension plans Other	Dec. 31, 2013 Significant Unobservable Inputs (Level 3) Pension plans Other
Employee benefit plans
Fair value of plan assets		$ 492.4	$ 770.4	$ 162.8	$ 247.2	$ 1.9	$ 4.8	$ 1.7	$ 3.2	$ 0.2	$ 1.9	$ 2.1	$ 3.4	$ 1.6	$ 2.9	$ 0.8	$ 1.4	$ 4.6	$ 8.9	$ 212.2	$ 178.2		$ 36.5	$ 28.5	$ 42.4	$ 12.0	$ 36.3	$ 71.5	$ 19.7	$ 163.7	$ 5.5	$ 6.9	$ 122.0	$ 276.4	$ 15.0	$ 37.9	$ 1.9	$ 4.8	$ 1.7	$ 3.2	$ 0.2	$ 1.9	$ 2.1	$ 3.4	$ 1.6	$ 2.9	$ 0.8	$ 1.4	$ 4.6	$ 8.9	$ 15.1	$ 27.8	$ 36.5	$ 12.0	$ 10.5	$ 20.0	$ 19.7	$ 163.7	$ 0.3	$ 0.5	$ 7.0	$ 13.7	$ 360.3	$ 480.8	$ 142.9	$ 202.5	$ 163.1	$ 184.4	$ 28.5	$ 42.4	$ 25.8	$ 51.5	$ 10.1	$ 13.2	$ 193.4	$ 4.9	$ 6.8	$ 29.0	$ 1.4	$ 155.6	$ 5.2	$ 6.4	$ 7.4	$ 10.1	$ 13.2	$ 4.9	$ 6.8	$ 5.2	$ 6.4
Value of Short term investments (in dollars per unit)	1.00
Number of funds transferred from level 1 to level 2																				1
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount																				16.6		69.2
Number of funds transferred from level 2 to level 1																				2
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount																				$ 27.6		$ 46.3

Employee Benefit Plans (Details 3) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Changes in the fair value of Level 3 assets
Transfers from Level 3 to Level 2 assets	$ 0
Commingled Global Fund Allocations
Changes in the fair value of Level 3 assets
Number of funds transferred from level 3 to level 2		1
Significant Unobservable Inputs (Level 3)
Changes in the fair value of Level 3 assets
Fair value of plan assets - beginning of year	13.2	193.4
Transfers from Level 3 to Level 2 assets		(105.6)
Realized gains		0.9
Unrealized gains (losses) relating to instruments still held at period end	0.2	0.3
Purchases		3.1
Sales	(3.3)	(78.9)
Fair value of plan assets - end of year	10.1	13.2
Significant Unobservable Inputs (Level 3) \| Global Equity Common Trust Funds
Changes in the fair value of Level 3 assets
Fair value of plan assets - beginning of year	6.8	29.0
Unrealized gains (losses) relating to instruments still held at period end	0.2	0.4
Purchases		3.1
Sales	(2.1)	(25.7)
Fair value of plan assets - end of year	4.9	6.8
Significant Unobservable Inputs (Level 3) \| Commingled Global Fund Allocations
Changes in the fair value of Level 3 assets
Fair value of plan assets - beginning of year		155.6
Transfers from Level 3 to Level 2 assets		(105.6)
Realized gains		0.9
Sales		(50.9)
Significant Unobservable Inputs (Level 3) \| Fixed Income Common Trust Funds
Changes in the fair value of Level 3 assets
Fair value of plan assets - beginning of year		1.4
Sales		(1.4)
Significant Unobservable Inputs (Level 3) \| Other
Changes in the fair value of Level 3 assets
Fair value of plan assets - beginning of year	6.4	7.4
Unrealized gains (losses) relating to instruments still held at period end		(0.1)
Sales	(1.2)	(0.9)
Fair value of plan assets - end of year	$ 5.2	$ 6.4

Employee Benefit Plans (Details 4) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
Domestic Pension Plans
Estimated future benefit payments, net of subsidies:
2015	$ 22.0
2016	78.7
2017	19.5
2018	20.1
2019	21.2
Subsequent five years	125.7
Qualified pension plans
Employee benefit plans
Employer contributions	0
Non-qualified pension plans
Employee benefit plans
Employer contributions	10.3
Expected minimum required funding contributions in 2015	10.5
Foreign Pension Plans
Employee benefit plans
Employer contributions	10.7
Expected minimum required funding contributions in 2015	2.8
Plan assets	0
Direct benefit, net of federal subsidies paid to unfunded plan	3.2
Expected direct benefit payments in next fiscal year	2.6
Estimated future benefit payments, net of subsidies:
2015	6.4
2016	7.6
2017	8.4
2018	9.3
2019	10.4
Subsequent five years	53.8
Foreign Pension Plans \| Discontinued operations
Employee benefit plans
Employer contributions	2.9
Expected minimum required funding contributions in 2015	2.0
Postretirement Plans
Employee benefit plans
Plan assets	0
Direct benefit, net of federal subsidies paid to unfunded plan	13.7
Amount of federal subsidies	0.9
Estimated future benefit payments, net of subsidies:
2015	12.8
2016	12.3
2017	11.7
2018	11.1
2019	10.6
Subsequent five years	44.4
Postretirement Subsidies
2015	0.5
2016	0.5
2017	0.5
2018	0.5
2019	0.5
Subsequent five years	$ 2.2

Employee Benefit Plans (Details 5) In Millions, unless otherwise specified	3 Months Ended	12 Months Ended				12 Months Ended			0 Months Ended	3 Months Ended		12 Months Ended
	Mar. 29, 2014 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($) item	Dec. 31, 2014 Pension plans USD ($)	Dec. 31, 2013 Pension plans USD ($)	Dec. 31, 2014 Domestic Pension Plans USD ($)	Dec. 31, 2013 Domestic Pension Plans USD ($)	Dec. 31, 2012 Domestic Pension Plans USD ($)	Dec. 31, 2014 Foreign Pension Plans USD ($) item	Dec. 31, 2014 Foreign Pension Plans USD ($)	Dec. 31, 2014 Foreign Pension Plans GBP (£)	Dec. 31, 2014 Foreign Pension Plans USD ($) item	Dec. 31, 2014 Foreign Pension Plans GBP (£)	Dec. 31, 2013 Foreign Pension Plans USD ($)	Dec. 31, 2012 Foreign Pension Plans USD ($)	Dec. 31, 2014 Postretirement Plans USD ($)	Dec. 31, 2013 Postretirement Plans USD ($)	Dec. 31, 2012 Postretirement Plans USD ($)
Employee benefit plans
Non-funded plan, current underfunded status				$ 210.0
Change in benefit obligation:
Benefit obligation - beginning of year:						568.8	1,345.8		239.6			335.6		323.0		131.5	148.7
Service cost						7.1	7.6	9.8				2.6		2.7	2.8	0.4	0.5	0.5
Interest cost						19.9	45.6	54.4				13.8		13.4	14.6	5.3	4.8	6.1
Employee contributions												0.1		0.2
Actuarial losses (gains)	14.8					59.5	(49.8)					55.3		9.6		14.2	(7.8)
Settlements		15.0				160.4	708.8					127.7
Plan amendment												(0.2)				7.5
Benefits paid						(39.6)	(71.6)					(16.0)		(14.8)		(13.7)	(14.7)
Foreign exchange and other												(23.9)		1.5
Benefit obligation - end of year:						455.3	568.8	1,345.8		239.6		239.6		335.6	323.0	130.2	131.5	148.7
Amount paid for obligations assumed by third party	4.8		663.7							123.3	79.2	123.3	79.2
Number of retirees assumed by third party for future pension payments			16,000						900			900	900
Lump sum settlements paid to Plan participants			45.1									4.4	2.8
Projected benefit obligation of the Plan settled as a result of lump-sum payments	165.2
Change in plan assets:
Fair value of plan assets - beginning of year				492.4	770.4	467.3	936.8		186.7			303.1		277.0
Actual return on plan assets						28.1	26.7					32.9		19.1
Contributions (employer and employee)						10.3	284.2					10.8		16.8
Settlements loss		(15.0)				(160.4)	(708.8)					(127.7)
Benefits paid						(39.6)	(71.6)					(16.0)		(14.8)		(13.7)	(14.7)
Benefits paid												(12.8)		(11.1)
Foreign exchange and other												(19.6)		1.3
Fair value of plan assets - end of year				492.4	770.4	305.7	467.3	936.8		186.7		186.7		303.1	277.0
Funded status at year-end						(149.6)	(101.5)			(52.9)		(52.9)		(32.5)		(130.2)	(131.5)
Amounts recognized in the consolidated balance sheets consist of:
Other assets						3.3	38.2			15.6		15.6		36.2
Accrued expenses						(10.3)	(8.9)			(2.4)		(2.4)		(2.7)		(12.6)	(13.7)
Other long-term liabilities						(142.6)	(130.8)			(66.1)		(66.1)		(66.0)		(117.6)	(117.8)
Net amount recognized						(149.6)	(101.5)			(52.9)		(52.9)		(32.5)		(130.2)	(131.5)
Amount recognized in accumulated other comprehensive income (pre-tax) consists of:
Net prior service credits						$ (0.2)	$ (0.1)			$ (0.2)		$ (0.2)		$ (0.1)		$ (7.5)	$ (0.3)

Employee Benefit Plans (Details 6) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Plan, Net Periodic Benefit Cost
Settlements	$ 15.0
Total net periodic pension benefit expense (income)	113.8	(17.7)	158.0
Domestic Pension Plans
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets
Projected benefit obligation	153.9	140.5
Accumulated benefit obligation	151.0	135.9
Fair value of plan assets	1.0	0.9
Accumulated benefit obligation	442.9	556.1
Defined Benefit Plan, Net Periodic Benefit Cost
Service cost	7.1	7.6	9.8
Interest cost	19.9	45.6	54.4
Expected return on plan assets	(19.5)	(73.2)	(61.8)
Settlements	160.4	708.8
Amortization of unrecognized prior service credits			(0.6)
Recognized net actuarial losses (gains)	50.9	(3.3)	121.4
Total net periodic pension benefit expense (income)	58.4	(23.3)	123.2
Weighted-average actuarial assumptions used in determining net periodic pension expense:
Discount rate (as a percent)	4.54%	3.85%	4.69%
Rate of increase in compensation levels (as a percent)	3.75%	3.75%	3.75%
Expected long-term rate of return on assets (as a percent)	6.76%	7.25%	7.25%
Weighted-average actuarial assumptions used in determining year-end benefit obligations:
Discount rate (as a percent)	3.90%	4.77%	3.74%
Rate of increase in compensation levels (as a percent)	3.75%	3.75%	3.75%
Foreign Pension Plans
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets
Projected benefit obligation	118.6	117.7
Accumulated benefit obligation	115.4	114.3
Fair value of plan assets	50.1	49.0
Accumulated benefit obligation	236.0	331.7
Defined Benefit Plan, Net Periodic Benefit Cost
Service cost	2.6	2.7	2.8
Interest cost	13.8	13.4	14.6
Expected return on plan assets	(17.6)	(17.6)	(16.6)
Settlements	127.7
Settlement loss	15.0
Recognized net actuarial losses (gains)	25.0	8.2	23.6
Total net periodic pension benefit expense (income)	38.8	6.7	24.4
Less: Net periodic pension income (expense) of discontinued operations	(3.0)	2.8	(2.1)
Net periodic pension benefit expense (income) of continuing operations	35.8	9.5	22.3
Weighted-average actuarial assumptions used in determining net periodic pension expense:
Discount rate (as a percent)	4.23%	4.35%	5.10%
Rate of increase in compensation levels (as a percent)	3.92%	3.91%	3.92%
Expected long-term rate of return on assets (as a percent)	5.78%	6.45%	6.56%
Weighted-average actuarial assumptions used in determining year-end benefit obligations:
Discount rate (as a percent)	3.31%	4.23%	4.35%
Rate of increase in compensation levels (as a percent)	3.87%	3.92%	3.91%
Postretirement Plans
Defined Benefit Plan, Net Periodic Benefit Cost
Service cost	0.4	0.5	0.5
Interest cost	5.3	4.8	6.1
Amortization of unrecognized prior service credits	(0.3)	(1.4)	(1.4)
Recognized net actuarial losses (gains)	14.2	(7.8)	7.3
Total net periodic pension benefit expense (income)	19.6	(3.9)	12.5
Weighted-average actuarial assumptions used in determining net periodic pension expense:
Discount rate (as a percent)	4.23%	3.37%	4.36%
Weighted-average actuarial assumptions used in determining year-end benefit obligations:
Discount rate (as a percent)	3.55%	4.23%	3.37%
Assumed health care cost trend rates:
Heath care cost trend rate for next year (as a percent)	6.79%	6.98%	7.13%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) (as a percent)	5.00%	5.00%	5.00%
Year that the rate reaches the ultimate trend rate	2024	2024	2019
Effects on postretirement expense of a percentage point change in assumed health care cost trend rates
Effect of 1% increase on total of service and interest costs	6.9
Effect of 1% decrease on total of service and interest costs	$ 6.1

Employee Benefit Plans (Details 7) (IAM, USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
IAM
Multiemployer Benefit Plans
Contributions	$ 0.1	$ 0.4
Maximum contribution to multiemployer plan (as percent)	5.00%	5.00%
Amortization period of investment losses	29 years
Required amortization period of investment losses	15 years
Current period to recognize investment losses due to the updating of the current asset valuation method	10 years
Previous period to recognize investment losses due to the updating of the current asset valuation method	5 years

Employee Benefit Plans (Details 8) (USD $) In Millions, except Share data in Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
The "DC" Plan
Defined Contribution Retirement Plans
Maximum voluntary contribution by eligible U.S. employees as a percentage of their compensation	50.00%
Number of shares contributed	167	206	266
Compensation expense	$ 16.4	$ 15.3	$ 15.5
Supplemental Retirement Savings Plan (SRSP)
Defined Contribution Retirement Plans
Compensation expense	0.6	0.3	0.3
Supplemental Retirement Savings Plan (SRSP) \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Contribution Retirement Plans
Fair value of plan assets	$ 50.5	$ 46.2

Income Taxes (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income (loss) from continuing operations:
United States		$ 474.1	$ 212.7	$ (223.6)
Foreign		120.1	58.9	44.2
Income (loss) from continuing operations before income taxes		594.2	271.6	(179.4)
Current:
United States		(261.7)	65.5	(1.4)
Foreign		(34.1)	(30.0)	(20.9)
Total current		(295.8)	35.5	(22.3)
Deferred and other:
United States		111.2	(123.9)	1.2
Foreign		(29.5)	28.1	35.3
Total deferred and other		81.7	(95.8)	36.5
Total (provision) benefit	(29.7)	(214.1)	(60.3)	14.2
Reconciliation of the U.S. federal statutory tax rate to effective income tax rate
Tax at U.S. federal statutory rate (as a percent)		35.00%	35.00%	35.00%
State and local taxes, net of U.S. federal benefit (as a percent)		1.80%	1.50%	(0.50%)
U.S. credits and exemptions (as a percent)		(1.60%)	(3.90%)	2.80%
Foreign earnings taxed at lower rates (as a percent)		(2.30%)	(10.70%)	14.00%
Audit settlements with taxing authorities (as a percent)		(2.00%)	0.20%	15.40%
Adjustments to uncertain tax positions (as a percent)		(2.10%)	0.80%	(3.00%)
Changes in valuation allowance (as a percent)		6.20%	(0.20%)	(6.20%)
Tax on repatriation of foreign earnings (as a percent)		2.70%	(0.50%)	(8.40%)
Goodwill impairment and basis adjustments (as a percent)		(1.00%)		(41.80%)
Other (as a percent)		(0.70%)		0.60%
Effective Income Tax Rate Reconciliation, Percent, Total		36.00%	22.20%	7.90%
Deferred tax assets:
NOL and credit carryforwards	266.2	266.2	229.8
Pension, other postretirement and postemployment benefits	116.9	116.9	95.5
Payroll and compensation	67.5	67.5	63.5
Legal, environmental and self-insurance accruals	45.8	45.8	42.3
Working capital accruals	34.7	34.7	26.8
Other	47.5	47.5	45.1
Total deferred tax assets	578.6	578.6	503.0
Valuation allowance	(152.9)	(152.9)	(149.3)
Net deferred tax assets	425.7	425.7	353.7
Deferred tax liabilities:
Intangibles recorded in acquisitions	277.3	277.3	285.9
Basis difference in affiliates	184.2	184.2	152.1
Accelerated depreciation	64.8	64.8	69.3
Other	36.5	36.5	25.8
Total deferred tax liabilities	562.8	562.8	533.1
Deferred tax assets (liabilities), net	$ (137.1)	$ (137.1)	$ (179.4)

Income Taxes (Details 2) (USD $) In Millions, unless otherwise specified	3 Months Ended	12 Months Ended							3 Months Ended	12 Months Ended			12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014 Continuing operations	Dec. 31, 2013 Discontinued operations	Dec. 31, 2012 Discontinued operations	Dec. 31, 2012 Cooling	Mar. 29, 2014 EGS Electrical Group, LLC and Subsidiaries ("EGS")	Dec. 31, 2014 EGS Electrical Group, LLC and Subsidiaries ("EGS")	Dec. 31, 2014 State and Local Jurisdiction	Dec. 31, 2014 Foreign Jurisdictions	Dec. 31, 2014 Minimum	Dec. 31, 2014 Maximum
Operating Loss Carryforwards
Tax loss carryforwards											$ 362.0	$ 874.8
Tax credit carryforwards	16.9	16.9
Carryforwards expiring in 2015	3.9	3.9
Tax credit carryforwards expiring between 2015 and 2034	426.6	426.6
Income tax benefit associated with the impairment charges related to cooling								26.3
Impairment charges		38.1	6.7	285.9				281.4
State income tax returns subject to examination for a period													3 years	5 years
Increase (decrease) in valuation allowance		3.6	21.2
Income taxes	29.7	214.1	60.3	(14.2)	36.5	(0.5)
Foreign withholding taxes on foreign dividends		18.6
Undistributed foreign earnings	1,265.0	1,265.0
Foreign earnings from the service solution sale to be repatriated in future		278.0
Foreign earnings portion related to withholding taxes from the service solution sale to be repatriated in future				100.8			91.8
Unrecognized Tax Benefits	63.3	63.3	128.4	108.4
Net unrecognized tax benefits	33.9	33.9	72.9	72.5
Portion of unrecognized benefits which, if recognized, would impact future effective tax rates	33.3	33.3
Gross accrued interest	5.9	5.9	12.4	12.8
Net accrued interest	4.9	4.9	8.6	8.6
Gross interest income included in income tax (provision) benefit		0.9	0.2	2.9
Penalties excluded	0	0	7.1	7.1
Penalties recorded		(7.1)	0	1.5
Reasonably possible amount that unrecognized tax benefits could decrease within next 12 months, low end of range	10.0	10.0
Reasonably possible amount that unrecognized tax benefits could decrease within next 12 months, high end of range	15.0	15.0
Valuation Allowance on Foreign Deferred Tax Assets	5.1	5.1
Aggregate changes in balance of unrecognized tax benefits
Unrecognized tax benefit - opening balance		128.4	108.4	120.4
Gross increases - tax positions in prior period		3.7	0.5	20.6
Gross decreases - tax positions in prior period		(36.9)	(2.3)	(33.9)
Gross increases - tax positions in current period		11.7	28.4	11.2
Settlements		(28.2)	(1.1)	(7.1)
Lapse of statute of limitations		(14.7)	(5.5)	(2.7)
Change due to foreign currency exchange rates		(0.7)		(0.1)
Unrecognized tax benefit - ending balance	63.3	63.3	128.4	108.4
Uncertain Tax Positions and Other Tax Matters
Gain on sale of interest in EGS									491.2	491.2
Tax charges related to valuation allowances recorded against foreign deferred income tax assets		19.6
Tax charges on spin-off transactions		5.1
Income taxes relating to repatriation of earnings	18.6	18.6
Foreign income taxes relating to spin-off	6.0	6.0
Income tax charges related to valuation allowances recorded against foreign deferred income tax assets			(9.5)	5.4
Tax benefit related to audit settlements and statute expirations		28.6	6.5	22.3
Tax benefit related to loss on an investment in a foreign subsidiary		6.4
Tax benefit related to the research and experimentation credit generated in 2012			4.1
Income tax charges related foreign dividends and undistributed earnings that are no longer considered to be indefinitely reinvested				15.4
Tax expense partially offset with the deconsolidation of dry cooling business in China				$ 6.1
Maximum period for which impact on state income tax returns of any federal changes remains subject to examination by various states		1 year

Indebtedness (Details) (USD $) In Millions, unless otherwise specified	0 Months Ended	3 Months Ended	12 Months Ended
	Feb. 11, 2014	Mar. 29, 2014	Dec. 31, 2014	Feb. 11, 2014	Dec. 31, 2013	Dec. 31, 2007
Debt
Balance at the beginning of the period		$ 1,675.6	$ 1,675.6
Borrowings			675.7
Repayments			(984.7)
Other			3.1
Balance at the end of the period			1,369.7
Less: short-term debt			181.1		26.9
Less: current maturities of long-term debt			30.8		558.7
Total long-term debt			1,157.8		1,090.0
Loss on early extinguishment of debt			32.5
Redemption premium paid			30.6
Capital lease obligations			13.6
Maturities of long-term debt payable
2015			30.8
2016			30.0
2017			629.7
2018			493.8
2019			0.7
Domestic revolving loan facility
Debt
Borrowings			472.0
Repayments			(339.0)
Balance at the end of the period			133.0
Term loan
Debt
Balance at the beginning of the period		475.0	475.0
Borrowings			100.0
Balance at the end of the period			575.0
Maximum borrowing capacity under financing arrangement			575.0
Percentage of initial principal amount which the entity will repay annually beginning with the second fiscal quarter of 2015			5.00%
6.875% senior notes, due in August 2017
Debt
Balance at the beginning of the period					600.0
Balance at the end of the period			600.0		600.0
Interest rate percentage			6.875%		6.875%
7.625% senior notes
Debt
Balance at the beginning of the period		500.0	500.0
Repayments			(500.0)
Interest rate percentage		7.625%		7.625%	7.625%	7.625%
Redemption price	530.6
Loss on early extinguishment of debt		32.5
Redemption premium paid		30.6
Write-off of unamortized deferred financing fees		1.0
Other costs associated with the extinguishment		0.9
Trade receivables financing arrangement
Debt
Borrowings			91.0
Repayments			(81.0)
Balance at the end of the period			10.0
Maximum borrowing capacity under financing arrangement			80.0
Available borrowing capacity			70.0
Other indebtedness
Debt
Balance at the beginning of the period		100.6	100.6
Borrowings			12.7
Repayments			(64.7)
Other			3.1
Balance at the end of the period			51.7
Capital lease obligations			13.6		73.0
Purchase card programs			32.1		25.4
Cash consideration for purchase of corporate headquarters facility		$ 60.8

Indebtedness (Details 2) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
Greater than or equal to 3.00 to 1.00
Credit Facilities
Consolidated leverage ratio, range	3.00
Less than 1.00 to 1.00
Credit Facilities
Consolidated leverage ratio, range	1.00
Minimum \| Between 2.00 to 1.00 and 3.00 to 1.00
Credit Facilities
Consolidated leverage ratio	2.00
Minimum \| Between 1.50 to 1.00 and 2.00 to 1.00
Credit Facilities
Consolidated leverage ratio	1.50
Minimum \| Between 1.00 to 1.00 and 1.50 to 1.00
Credit Facilities
Consolidated leverage ratio	1.00
Maximum \| Between 2.00 to 1.00 and 3.00 to 1.00
Credit Facilities
Consolidated leverage ratio	3.00
Maximum \| Between 1.50 to 1.00 and 2.00 to 1.00
Credit Facilities
Consolidated leverage ratio	2.00
Maximum \| Between 1.00 to 1.00 and 1.50 to 1.00
Credit Facilities
Consolidated leverage ratio	1.50
Alternate base rate \| Greater than or equal to 3.00 to 1.00
Credit Facilities
Basis spread on variable rate (as a percent)	1.00%
Alternate base rate \| Between 2.00 to 1.00 and 3.00 to 1.00
Credit Facilities
Basis spread on variable rate (as a percent)	0.75%
Alternate base rate \| Between 1.50 to 1.00 and 2.00 to 1.00
Credit Facilities
Basis spread on variable rate (as a percent)	0.50%
Alternate base rate \| Between 1.00 to 1.00 and 1.50 to 1.00
Credit Facilities
Basis spread on variable rate (as a percent)	0.375%
Alternate base rate \| Less than 1.00 to 1.00
Credit Facilities
Basis spread on variable rate (as a percent)	0.25%
Reserve-adjusted LIBOR \| Greater than or equal to 3.00 to 1.00
Credit Facilities
Basis spread on variable rate (as a percent)	2.00%
Reserve-adjusted LIBOR \| Between 2.00 to 1.00 and 3.00 to 1.00
Credit Facilities
Basis spread on variable rate (as a percent)	1.75%
Reserve-adjusted LIBOR \| Between 1.50 to 1.00 and 2.00 to 1.00
Credit Facilities
Basis spread on variable rate (as a percent)	1.50%
Reserve-adjusted LIBOR \| Between 1.00 to 1.00 and 1.50 to 1.00
Credit Facilities
Basis spread on variable rate (as a percent)	1.375%
Reserve-adjusted LIBOR \| Less than 1.00 to 1.00
Credit Facilities
Basis spread on variable rate (as a percent)	1.25%
Letter of credit
Credit Facilities
Fronting fees (as a percent)	0.125%
Letter of credit \| Greater than or equal to 3.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	2.00%
Letter of credit \| Between 2.00 to 1.00 and 3.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	1.75%
Letter of credit \| Between 1.50 to 1.00 and 2.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	1.50%
Letter of credit \| Between 1.00 to 1.00 and 1.50 to 1.00
Credit Facilities
Commitment fee (as a percent)	1.375%
Letter of credit \| Less than 1.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	1.25%
Senior credit facility
Credit Facilities
Maximum borrowing capacity under financing arrangement	$ 2,075.0
Number of trailing fiscal quarters used in calculating the Consolidated Interest Coverage Ratio under senior credit facilities' covenants (in number of quarters)	4
Threshold amount of cash and cash equivalents above which amounts are netted against consolidated net debt for calculation of debt compliance	50.0
Number of trailing fiscal quarters used in calculating the Consolidated Leverage Coverage Ratio under senior credit facilities' covenants (in number of quarters)	4
Consolidated Leverage Ratio under senior credit facilities' covenants after certain permitted acquisitions	3.50
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 most recent fiscal quarter preceding stock repurchase or dividend declaration	50.00%
Percentage of consolidated net deficit removed from calculation of amounts available for stock repurchases and dividends	(100.00%)
Maximum amount of the commitments SPX can seek	1,000.0
Maximum Consolidated Senior Secured Leverage Ratio to seek additional commitments	2.75
Weighted-average interest rate of senior credit facilities (as a percent)	1.60%
Maximum period within which net proceeds should be reinvested	360 days
Security interest granted in capital stock of domestic subsidiaries or subsidiary guarantors (as a percent)	100.00%
Security interest granted in material first tier foreign subsidiaries (as a percent)	65.00%
Senior credit facility \| Minimum
Credit Facilities
Consolidated Interest Coverage Ratio under senior credit facilities' covenants	3.50
Consolidated Leverage Ratio restricting amount of capital stock repurchases and dividend payments under senior credit facilities' covenants	2.50
Senior credit facility \| Maximum
Credit Facilities
Consolidated Leverage Ratio under senior credit facilities' covenants	3.25
Maximum consolidated Leverage Ratio necessary for unlimited amount of capital stock repurchases and dividend payments under senior credit facilities' covenants	2.50
Senior credit facility \| Alternate base rate
Credit Facilities
Description of variable rate (as a percent)	alternate base rate
Senior credit facility \| Federal funds effective rate
Credit Facilities
Basis spread on variable rate (as a percent)	0.50%
Description of variable rate (as a percent)	federal funds effective rate
Senior credit facility \| Prime rate
Credit Facilities
Description of variable rate (as a percent)	prime rate
Senior credit facility \| One-Month LIBOR
Credit Facilities
Basis spread on variable rate (as a percent)	1.00%
Description of variable rate (as a percent)	one-month LIBOR
Senior credit facility \| Reserve-adjusted LIBOR
Credit Facilities
Description of variable rate (as a percent)	reserve-adjusted LIBOR
Interest period which may be elected, shortest	1 month
Interest period which may be elected, second shortest	2 months
Interest period which may be elected, second longest	3 months
Interest period which may be elected, longest	6 months
Domestic and global revolving credit facilities
Credit Facilities
Amount of available borrowing capacity	313.2
Domestic and global revolving credit facilities \| Letter of credit
Credit Facilities
Letters of credit issued, amount outstanding	53.8
Domestic revolving credit facility
Credit Facilities
Maximum borrowing capacity under financing arrangement	300.0
Domestic revolving credit facility \| Greater than or equal to 3.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.35%
Domestic revolving credit facility \| Between 2.00 to 1.00 and 3.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.30%
Domestic revolving credit facility \| Between 1.50 to 1.00 and 2.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.275%
Domestic revolving credit facility \| Between 1.00 to 1.00 and 1.50 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.25%
Domestic revolving credit facility \| Less than 1.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.225%
Global revolving credit facility
Credit Facilities
Maximum borrowing capacity under financing arrangement	200.0
Global revolving credit facility \| Greater than or equal to 3.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.35%
Global revolving credit facility \| Between 2.00 to 1.00 and 3.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.30%
Global revolving credit facility \| Between 1.50 to 1.00 and 2.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.275%
Global revolving credit facility \| Between 1.00 to 1.00 and 1.50 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.25%
Global revolving credit facility \| Less than 1.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.225%
Foreign credit instrument facility \| Greater than or equal to 3.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	1.25%
Foreign credit instrument facility \| Between 2.00 to 1.00 and 3.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	1.00%
Foreign credit instrument facility \| Between 1.50 to 1.00 and 2.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.875%
Foreign credit instrument facility \| Between 1.00 to 1.00 and 1.50 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.80%
Foreign credit instrument facility \| Less than 1.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.75%
Participation foreign credit instrument facility
Credit Facilities
Maximum borrowing capacity under financing arrangement	800.0
Fronting fees (as a percent)	0.25%
Term loan
Credit Facilities
Maximum borrowing capacity under financing arrangement	575.0
Foreign Credit Commitment
Credit Facilities
Amount of available borrowing capacity	304.7
Foreign Credit Commitment \| Greater than or equal to 3.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.35%
Foreign Credit Commitment \| Between 2.00 to 1.00 and 3.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.30%
Foreign Credit Commitment \| Between 1.50 to 1.00 and 2.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.275%
Foreign Credit Commitment \| Between 1.00 to 1.00 and 1.50 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.25%
Foreign Credit Commitment \| Less than 1.00 to 1.00
Credit Facilities
Commitment fee (as a percent)	0.225%
Foreign Credit Commitment \| Letter of credit
Credit Facilities
Letters of credit issued, amount outstanding	695.3
Bilateral foreign credit instrument facility
Credit Facilities
Maximum borrowing capacity under financing arrangement	$ 200.0

Indebtedness (Details 3) (USD $) In Millions, unless otherwise specified	12 Months Ended			12 Months Ended		0 Months Ended	3 Months Ended	12 Months Ended				12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014 6.875% senior unsecured notes	Aug. 31, 2010 6.875% senior unsecured notes	Dec. 31, 2014 6.875% senior unsecured notes Other income (expense), net	Dec. 31, 2014 Trade receivables financing arrangement	Feb. 11, 2014 7.625% senior notes	Mar. 29, 2014 7.625% senior notes	Dec. 31, 2014 7.625% senior notes	Feb. 11, 2014 7.625% senior notes	Dec. 31, 2013 7.625% senior notes	Dec. 31, 2007 7.625% senior notes	Dec. 31, 2014 Other indebtedness	Dec. 31, 2013 Other indebtedness	Dec. 31, 2014 Letters of credit under separate arrangements in China and India
Debt activity
Aggregate principal amount			$ 600.0								$ 500.0
Interest rate percentage			6.875%				7.625%		7.625%	7.625%	7.625%
Repayments under senior credit facilities	984.7	562.5			81.0			500.0				64.7
Termination costs paid for swaps related to term loan that was repaid		26.9
Accrued interest paid related to term loan which was repaid		2.6
Percentage of the principal amount at which notes are redeemable at any time prior to maturity		100.00%						100.00%
Percentage of principal amount at which notes may be required to be repurchased in event of change of control		101.00%
Fees and related transaction costs				5.0
Redemption price						530.6
Loss on early extinguishment of debt	(32.5)						(32.5)
Redemption premium paid	30.6						30.6
Write-off of unamortized deferred financing fees							1.0
Other costs associated with the extinguishment							0.9
Other Borrowings and Financing Activities
Outstanding amount, purchase card program agreement												32.1	25.4
Maximum borrowing capacity					80.0
Letters of credit issued, amount outstanding														$ 5.7

Derivative Financial Instruments (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
FX forward contracts
Derivative disclosures
Aggregate notional amount	$ 298.0	$ 191.3
Unrealized gain (loss), net of tax, recorded in AOCI related to commodity and FX forward contracts	(0.3)	(1.0)
Reclassification of gain (loss) for 2015	0.2
Reclassification of gain (loss) for 2016	0.1
Derivative contract maturity period	12 months
FX embedded derivatives
Derivative disclosures
Aggregate notional amount	246.0	145.8
Derivative contracts maturities in 2015	151.7
Derivative contracts maturities in 2016	84.0
Derivative contracts maturities thereafter	10.3
Commodity contracts
Derivative disclosures
Unrealized gain (loss), net of tax, recorded in AOCI related to commodity and FX forward contracts	(1.0)	0.2
Notional amount of commodity contracts (in pounds of copper)	4,200,000	3,400,000
Fair value of derivative contract - liability	1.4
Fair value of derivative contract - asset		0.4
FX forward contracts and FX embedded derivatives
Derivative disclosures
Net gain (loss) recorded related to derivatives	$ (2.4)	$ 0.5	$ (0.2)

Derivative Financial Instruments (Details 2) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
FX forward contracts
Fair value of derivative financial instruments
Gross Assets	$ 0.8	$ 1.1
Gross Liabilities	(5.4)	(0.5)
Net Assets / Liabilities	(4.6)	0.6
FX forward contracts \| Counterparty A
Fair value of derivative financial instruments
Gross Assets		0.7
Gross Liabilities	(0.1)	(0.1)
Net Assets / Liabilities	(0.1)	0.6
FX forward contracts \| Counterparty B
Fair value of derivative financial instruments
Gross Assets	0.3	0.1
Gross Liabilities	(3.5)	(0.4)
Net Assets / Liabilities	(3.2)	(0.3)
FX forward contracts \| Aggregate of other counterparties
Fair value of derivative financial instruments
Gross Assets	0.5	0.3
Gross Liabilities	(1.8)
Net Assets / Liabilities	(1.3)	0.3
Derivative contracts designated as hedging instruments \| FX forward contracts
Fair value of derivative financial instruments
Net Assets / Liabilities	(0.2)	0.3
Derivative contracts designated as hedging instruments \| FX forward contracts \| Other current assets
Fair value of derivative financial instruments
Gross Assets		0.3
Derivative contracts designated as hedging instruments \| FX forward contracts \| Accrued expenses
Fair value of derivative financial instruments
Gross Liabilities	(0.1)
Derivative contracts designated as hedging instruments \| FX forward contracts \| Other long-term liabilities
Fair value of derivative financial instruments
Gross Liabilities	(0.1)
Derivative contracts designated as hedging instruments \| Commodity contracts \| Counterparty A
Fair value of derivative financial instruments
Gross Assets		0.4
Gross Liabilities	(1.4)
Net Assets / Liabilities	(1.4)	0.4
Derivative contracts not designated as hedging instruments \| FX forward contracts
Fair value of derivative financial instruments
Net Assets / Liabilities	(4.4)	0.3
Derivative contracts not designated as hedging instruments \| FX forward contracts \| Other current assets
Fair value of derivative financial instruments
Gross Assets		0.6
Derivative contracts not designated as hedging instruments \| FX forward contracts \| Accrued expenses
Fair value of derivative financial instruments
Gross Liabilities	(4.4)	(0.3)
Derivative contracts not designated as hedging instruments \| FX embedded derivatives
Fair value of derivative financial instruments
Net Assets / Liabilities	0.7	(7.9)
Derivative contracts not designated as hedging instruments \| FX embedded derivatives \| Other current assets
Fair value of derivative financial instruments
Gross Assets	5.1	0.7
Derivative contracts not designated as hedging instruments \| FX embedded derivatives \| Other assets
Fair value of derivative financial instruments
Gross Assets	1.2
Derivative contracts not designated as hedging instruments \| FX embedded derivatives \| Accrued expenses
Fair value of derivative financial instruments
Gross Liabilities	(4.7)	(6.5)
Derivative contracts not designated as hedging instruments \| FX embedded derivatives \| Other long-term liabilities
Fair value of derivative financial instruments
Gross Liabilities	$ (0.9)	$ (2.1)

Derivative Financial Instruments (Details 3) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flow hedge
Derivative instrument disclosures
Amount of gain (loss) recognized in AOCI, pre-tax	$ (2.1)	$ (1.5)
Amount of gain (loss) reclassified from AOCI to income, pre-tax	(1.5)	(5.3)	(1.5)
Cash flow hedge \| Other income (expense), net
Derivative instrument disclosures
Derivative losses recognized in other income, net, relating to derivative ineffectiveness and amounts excluded from effectiveness testing		0.2	0.4
Cash flow hedge \| FX forward contracts
Derivative instrument disclosures
Amount of gain (loss) recognized in AOCI, pre-tax	0.4	(0.3)	(0.4)
Cash flow hedge \| FX forward contracts \| Revenues
Derivative instrument disclosures
Amount of gain (loss) reclassified from AOCI to income, pre-tax	(0.8)	(4.0)	(0.7)
Cash flow hedge \| Commodity contracts
Derivative instrument disclosures
Amount of gain (loss) recognized in AOCI, pre-tax	(2.5)	(1.2)	0.4
Cash flow hedge \| Commodity contracts \| Cost of products sold
Derivative instrument disclosures
Amount of gain (loss) reclassified from AOCI to income, pre-tax	(0.7)	(1.3)	(0.8)
Derivative contracts not designated as hedging instruments \| Other income (expense), net
Derivative instrument disclosures
Amount of gain (loss) recognized in income	(2.4)	0.7	0.2
Derivative contracts not designated as hedging instruments \| FX forward contracts \| Other income (expense), net
Derivative instrument disclosures
Amount of gain (loss) recognized in income	(7.8)	0.1	0.6
Derivative contracts not designated as hedging instruments \| FX embedded derivatives \| Other income (expense), net
Derivative instrument disclosures
Amount of gain (loss) recognized in income	$ 5.4	$ 0.6	$ (0.4)

Commitments, Contingent Liabilities and Other Matters (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Future minimum rental payments under operating leases with remaining non-cancelable term
2015	$ 36.5
2016	24.7
2017	16.9
2018	12.1
2019	9.0
Thereafter	29.7
Total minimum payments	128.9
Total operating lease expense	56.5	58.3	60.8
Future minimum lease payments under capital obligations
2015	3.4
2016	1.8
2017	1.5
2018	5.3
2019	0.8
Thereafter	4.2
Total minimum payments	17.0
Less: interest	(3.4)
Capital Lease Obligations, Total	13.6
Less: current maturities, at the end of the period	(2.0)	(58.7)
Long-term portion, at the end of the period	11.6	14.3
Capital Leases
Total	33.2	92.6
Less: accumulated depreciation	(11.5)	(11.4)
Net book value	21.7	81.2
Buildings
Capital Leases
Total	17.4	70.3
Machinery and equipment
Capital Leases
Total	12.5	12.7
Land.
Capital Leases
Total		6.0
Other
Capital Leases
Total	$ 3.3	$ 3.6

Commitments, Contingent Liabilities and Other Matters (Details 2) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Contingencies and other matters
Carrying values of accruals	$ 619.6	$ 610.1
Accruals included in other long-term liabilities	571.5	561.8
Risk management matters
Contingencies and other matters
Carrying values of accruals	575.4	565.0
Insurance recovery assets	$ 503.7	$ 496.7

Commitments, Contingent Liabilities and Other Matters (Details 3) (Site investigation and remediation)	Dec. 31, 2014 site	Dec. 31, 2013 site
Site investigation and remediation
Environmental Matters
Number of sites	91	94
Number of third-party disposal sites for which entity is potentially responsible	28	23
Number of active sites	9	6

Commitments, Contingent Liabilities and Other Matters (Details 4) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Board Of Directors
Executive Agreements
Number of executives for whom employment agreements is approved	6
Number of officers having outstanding non-interest bearing relocation home loans	1
Repayment tenure of non-interest bearing relocation home loans	20 years
Amount of relocation home loans	$ 1.5
Number of executives having change of control agreements	10
Board Of Directors \| Minimum
Executive Agreements
Period of rolling term of employment agreements	1 year
Board Of Directors \| Maximum
Executive Agreements
Period of rolling term of employment agreements	2 years
Consortium arrangements \| Thermal Equipment and Services reportable segment
Collaborative Arrangements
Entity's share of the aggregate contract value on open consortium arrangements	65.2	139.3
Percentage of entity's share of the aggregate contract value, recognized as revenue	87.00%	87.00%
Aggregate contract value on open consortium arrangements	291.1	433.8
Estimated fair value of potential obligation recorded as a liabilities	$ 0.7	$ 1.7

Shareholders' Equity and Stock-Based Compensation (Details) (USD $) In Millions, except Share data in Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 29, 2014	Dec. 31, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Numerator:
Income (loss) from continuing operations	$ (40.0)	$ 66.7	$ 56.7	$ 296.7	$ 85.1	$ 66.6	$ 43.5	$ 16.1	$ 380.1	$ 211.3	$ (165.2)
Less: Net income (loss) attributable to noncontrolling interests									(9.5)	2.2	3.0
Income (loss) from continuing operations attributable to SPX Corporation common shareholders for calculating basic and diluted income per share									389.6	209.1	(168.2)
Income (loss) from discontinued operations, net of tax	(3.2)	(2.9)	(6.7)	21.1	1.8	1.9	3.7	(6.1)	8.3	1.3	348.4
Less: Net income (loss) attributable to noncontrolling interest										0.2	(0.2)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent, Total									$ 8.3	$ 1.1	$ 348.6
Denominator:
Weighted-average number of common shares used in basic income per share									42,400	45,384	50,031
Dilutive securities - Employee stock options, restricted stock shares and restricted stock units (in shares)									631	622
Weighted-average number of common shares and dilutive securities used in diluted income per share									43,031	46,006	50,031
Stock options
Stock-based Compensation
Options outstanding (in shares)	0				0				0	0
Number of options or units that were excluded from the computation of diluted income per share											3
Restricted stock shares and restricted stock units
Stock-based Compensation
Number of options or units that were excluded from the computation of diluted income per share									226	647	1,031

Shareholders' Equity and Stock-Based Compensation (Details 2) (USD $)	0 Months Ended	1 Months Ended	12 Months Ended
	Dec. 18, 2013	Jan. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Summary of common shares issued, treasury shares and shares outstanding
Balance at the beginning of the period (in shares)		48,304,000	45,281,329	48,304,000	51,073,000
Stock options exercised (in shares)				8,000	174,000
Share repurchases (in shares)			(4,852,000)	(3,493,000)	(3,606,000)
Restricted stock shares and restricted stock units (in shares)			262,000	256,000	396,000
Other (in shares)			167,000	206,000	267,000
Balance at the end of the period (in shares)			40,858,006	45,281,329	48,304,000
Common Stock
Authorized shares			200,000,000
Par value (in dollars per share)			$ 10.00
Summary of common shares issued, treasury shares and shares outstanding
Balance at the beginning of the period (in shares)		99,454,000	99,801,000	99,454,000	98,702,000
Stock options exercised (in shares)				8,000	174,000
Restricted stock shares and restricted stock units (in shares)			96,000	133,000	311,000
Other (in shares)			167,000	206,000	267,000
Balance at the end of the period (in shares)			100,064,000	99,801,000	99,454,000
Common Stock In Treasury
Summary of common shares issued, treasury shares and shares outstanding
Balance at the beginning of the period (in shares)		(51,150,000)	(54,520,000)	(51,150,000)	(47,629,000)
Share repurchases (in shares)	(115,000)	(1,514,000)	(4,852,000)	(3,493,000)	(3,606,000)
Restricted stock shares and restricted stock units (in shares)			166,000	123,000	85,000
Balance at the end of the period (in shares)			(59,206,000)	(54,520,000)	(51,150,000)

- Definition

Number of share options (or share units) exercised during the current period.

+ References+ Details

Shareholders' Equity and Stock-Based Compensation (Details 3) (USD $) In Millions, except Share data, unless otherwise specified	0 Months Ended				12 Months Ended
	Jan. 02, 2014	Apr. 01, 2013	Jan. 02, 2013	Jan. 03, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Stock-based Compensation
Classification of excess tax benefits from stock-based compensation as financing cash flows					$ 9.7	$ 6.3	$ 3.8
Maximum period over which the fair value of restricted stock shares and restricted stock units are amortized					3 years
Assumptions in determining the fair value of awards granted
Annual expected stock price volatility (as a percent)	33.70%	35.50%	36.30%	44.30%
Annual expected dividend yield (as a percent)	1.02%	1.29%	1.42%	1.60%
Risk-free interest rate (as a percent)	0.76%	0.33%	0.37%	0.44%
Correlation between total shareholder return for SPX and the applicable S&P index	0.7631	0.7668	0.7778	0.7365
Historical period upon which annual expected stock price volatility is based					3 years
2002 Stock Compensation Plan
Stock-based Compensation
Shares available for grant					2,305,000
Reduction of shares available for grant					2
Directors' Plan
Stock-based Compensation
Shares available for grant					22,000
S&P 500 Index
Stock-based Compensation
Portion of the grant that will vest if the company outperforms the S&P Index for the prior year					one-third
Assumptions in determining the fair value of awards granted
Annual expected stock price volatility (as a percent)				23.10%
Risk-free interest rate (as a percent)				0.44%
S&P Composite 1500 Industrials Index
Assumptions in determining the fair value of awards granted
Annual expected stock price volatility (as a percent)	19.90%	21.20%	22.40%
Risk-free interest rate (as a percent)	0.76%	0.33%	0.37%
Minimum
Assumptions in determining the fair value of awards granted
Daily treasury yield curve period upon which average risk-free interest rate is based					1 year
Maximum
Assumptions in determining the fair value of awards granted
Daily treasury yield curve period upon which average risk-free interest rate is based					3 years
Restricted stock shares and restricted stock units
Stock-based Compensation
Compensation expense					38.4	32.9	38.9
Related tax benefit					14.1	12.1	14.8
Restricted stock shares and restricted stock units \| Directors' Plan
Stock-based Compensation
Vesting period					1 year	1 year	3 years
Restricted stock shares and restricted stock units \| Minimum
Stock-based Compensation
Vesting period					1 year
Restricted stock shares and restricted stock units \| Maximum
Stock-based Compensation
Vesting period					3 years
Target performance awards
Stock-based Compensation
Vesting period					3 years	3 years
Target performance awards \| Officers
Stock-based Compensation
Vesting period					3 years	3 years
Target performance awards \| Non-officer employees
Stock-based Compensation
Vesting period					3 years	3 years	3 years
Target performance awards \| Minimum
Stock-based Compensation
Percentage of target award, which can be earned by each eligible employee					25.00%	25.00%
Target performance awards \| Maximum
Stock-based Compensation
Percentage of target award, which can be earned by each eligible employee					125.00%	125.00%
Stock options
Stock-based Compensation
Options outstanding (in shares)					0	0
Compensation expense					$ 0	$ 0	$ 0

Shareholders' Equity and Stock-Based Compensation (Details 4) (USD $) In Millions, except Share data in Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Stock option activity, Shares
Exercised (in shares)		(8)	(174)
Restricted stock shares and restricted stock units
Unvested Restricted Stock Shares and Restricted Stock Units
Outstanding at the beginning of the period (in shares)	1,537	1,935	1,440
Granted (in shares)	519	652	823
Vested (in shares)	(604)	(754)	(264)
Forfeited (in shares)	(284)	(296)	(64)
Outstanding at the end of the period (in shares)	1,168	1,537	1,935
Weighted-Average Grant-Date Fair Value
Outstanding at the beginning of the period (in dollars per share)	$ 58.39	$ 54.70	$ 54.38
Granted (in dollars per share)	$ 86.99	$ 61.66	$ 50.64
Vested (in dollars per share)	$ 59.49	$ 54.34	$ 39.75
Forfeited (in dollars per share)	$ 63.76	$ 52.20	$ 57.77
Outstanding at the end of the period (in dollars per share)	$ 69.22	$ 58.39	$ 54.70
Unrecognized compensation cost
Unrecognized compensation cost related to restricted stock share and restricted stock unit	$ 22.1
Weighted-average period over which unrecognized compensation costs will be recognized	1 year 8 months 12 days
Stock options
Stock option activity, Shares
Options outstanding and exercisable at the beginning of the period (in shares)		13	364
Exercised (in shares)		(8)	(174)
Terminated (in shares)		(5)	(177)
Options outstanding and exercisable at the end of the period (in shares)			13
Weighted-Average Exercise Price
Options outstanding and exercisable at the beginning of the period (in dollars per share)		$ 62.45	$ 54.87
Exercised (in dollars per share)		$ 50.79	$ 39.58
Terminated (in dollars per share)		$ 85.36	$ 69.42
Options outstanding and exercisable at the end of the period (in dollars per share)			$ 62.45
Stock option outstanding and exercisable
Aggregate intrinsic value of options exercised		$ 0.4	$ 5.9

Shareholders' Equity and Stock-Based Compensation (Details 5) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Components of Accumulated Other Comprehensive income
Balance at beginning of period	$ 287.5
Other comprehensive income (loss), net	(224.9)	2.1	95.6
Balance at end of period	62.6	287.5
Pension and postretirement liability adjustment and other, tax (provision) benefit	(5.2)	1.0	0.8
Accum. Other Comprehensive Income
Components of Accumulated Other Comprehensive income
Balance at beginning of period	287.5	284.8
Other comprehensive income (loss) before reclassifications	(230.9)	0.2
Amounts reclassified from accumulated other comprehensive income	6.0	2.5
Other comprehensive income (loss), net	(224.9)	2.7	95.0
Balance at end of period	62.6	287.5	284.8
Foreign Currency Translation Adjustment
Components of Accumulated Other Comprehensive income
Balance at beginning of period	296.8	293.8
Other comprehensive income (loss) before reclassifications	(237.8)	3.0
Other comprehensive income (loss), net	(237.8)	3.0
Balance at end of period	59.0	296.8
Net Unrealized Losses on Qualifying Cash Flow Hedges
Components of Accumulated Other Comprehensive income
Balance at beginning of period	(0.8)	(3.3)
Other comprehensive income (loss) before reclassifications	(1.6)	(1.0)
Amounts reclassified from accumulated other comprehensive income	1.1	3.5
Other comprehensive income (loss), net	(0.5)	2.5
Balance at end of period	(1.3)	(0.8)	(3.3)
Net unrealized gain (loss) on qualifying cash flow hedges, tax benefit (provision)	1.1	1.0	2.5
Net Unrealized Losses on Available-for-Sale Securities
Components of Accumulated Other Comprehensive income
Balance at beginning of period	(3.7)	(3.1)
Other comprehensive income (loss) before reclassifications	3.6	(0.6)
Amounts reclassified from accumulated other comprehensive income	0.1
Other comprehensive income (loss), net	3.7	(0.6)
Balance at end of period		(3.7)
Pension and Postretirement Liability Adjustment and Other
Components of Accumulated Other Comprehensive income
Balance at beginning of period	(4.8)	(2.6)
Other comprehensive income (loss) before reclassifications	4.9	(1.2)
Amounts reclassified from accumulated other comprehensive income	4.8	(1.0)
Other comprehensive income (loss), net	9.7	(2.2)
Balance at end of period	4.9	(4.8)	(2.6)
Pension and postretirement liability adjustment and other, tax (provision) benefit	(3.0)	2.2	1.2
Pension and postretirement liability adjustment and other, tax benefit of unamortized prior service credits		0.2	1.2
Pension and Postretirement Liability Adjustment and Other \| EGS Electrical Group, LLC and Subsidiaries ("EGS")
Components of Accumulated Other Comprehensive income
Pension and postretirement liability adjustment and other, tax (provision) benefit		$ (5.0)	$ (3.8)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References+ Details

Shareholders' Equity and Stock-Based Compensation (Details 6) (USD $) In Millions, unless otherwise specified	3 Months Ended									12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 29, 2014	Dec. 31, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Amounts reclassified from each component of accumulated comprehensive income
Revenues		$ (1,277.7)	$ (1,171.2)	$ (1,195.1)	$ (1,077.1)	$ (1,328.9)	$ (1,162.7)	$ (1,180.9)	$ (1,100.8)	$ (4,721.1)	$ (4,773.3)	$ (4,894.6)
Other income (expense), net										(484.6)	11.3	(14.0)
Cost of products sold										3,357.5	3,392.3	3,554.2
Selling, general and administrative										1,068.7	963.9	1,120.9
Pre-tax										(594.2)	(271.6)	179.4
Income taxes	29.7									214.1	60.3	(14.2)
Amounts reclassified from accumulated other comprehensive income		43.2	(63.8)	(50.0)	(317.8)	(86.9)	(68.5)	(47.2)	(10.0)	(388.4)	(212.6)	(183.2)
Net Unrealized Losses on Qualifying Cash Flow Hedges \| Amount Reclassified from AOCI
Amounts reclassified from each component of accumulated comprehensive income
Pre-tax										1.5	5.3
Income taxes										(0.4)	(1.8)
Amounts reclassified from accumulated other comprehensive income										1.1	3.5
Net Unrealized Losses on Qualifying Cash Flow Hedges \| FX forward contracts \| Amount Reclassified from AOCI
Amounts reclassified from each component of accumulated comprehensive income
Revenues										0.8	4.0
Net Unrealized Losses on Qualifying Cash Flow Hedges \| Commodity contracts \| Amount Reclassified from AOCI
Amounts reclassified from each component of accumulated comprehensive income
Cost of products sold										0.7	1.3
Pension and Postretirement Liability Adjustment and Other \| Amount Reclassified from AOCI
Amounts reclassified from each component of accumulated comprehensive income
Other income (expense), net										7.4
Cost of products sold											(0.1)
Selling, general and administrative										(0.3)	(1.3)
Pre-tax										7.1	(1.4)
Income taxes										(2.3)	0.4
Amounts reclassified from accumulated other comprehensive income										$ 4.8	$ (1.0)

Shareholders' Equity and Stock-Based Compensation (Details 7) (USD $) In Millions, except Share data, unless otherwise specified	0 Months Ended	1 Months Ended	12 Months Ended
	Dec. 18, 2013	Jan. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 18, 2013	Feb. 16, 2012
Common stock repurchased (in shares)			4,852,000	3,493,000	3,606,000
Total cash consideration paid for common stock repurchased			$ 488.8	$ 260.2	$ 245.6
Dividends
Dividends declared per share (in dollars per share)			$ 1.50	$ 1.00	$ 1.00
Dividends declared			63.2	45.5	50.9
Preferred Stock
Authorized no par value preferred stock (in shares)			3,000,000	3,000,000	3,000,000
Common Stock In Treasury
Authorized repurchase amount under the written trading plan						500.0	350.0
Common stock repurchased (in shares)	115,000	1,514,000	4,852,000	3,493,000	3,606,000
Total cash consideration paid for common stock repurchased	11.2	104.4	488.8	144.6	245.6
Common Stock in Treasury
Decrease in stock by the settlement of restricted stock units			13.8	14.2	6.1
Increase in the stock for common stock surrendered by recipients of restricted stock as a means of funding minimum income tax withholding			$ 7.9	$ 11.0	$ 1.8

Fair Value (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended		3 Months Ended	12 Months Ended	3 Months Ended	12 Months Ended		3 Months Ended	12 Months Ended		3 Months Ended		12 Months Ended													12 Months Ended									12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014 Thermal Equipment and Services reportable segment Trademarks	Dec. 31, 2012 Thermal Equipment and Services reportable segment Trademarks item	Dec. 31, 2014 Cooling	Dec. 31, 2014 Cooling	Dec. 31, 2012 Cooling	Dec. 31, 2014 Flow Technology and Thermal Equipment and Services Trademarks	Dec. 31, 2014 Flow Technology and Thermal Equipment and Services Trademarks	Dec. 31, 2013 Flow Technology and Thermal Equipment and Services Trademarks	Dec. 31, 2014 Flow Technology Reportable Segment Trademarks	Dec. 31, 2013 Flow Technology Reportable Segment Trademarks	Dec. 31, 2013 Flow Technology Reportable Segment Trademarks	Dec. 31, 2014 Senior notes Carrying Amount Nonrecurring basis	Dec. 31, 2013 Senior notes Carrying Amount Nonrecurring basis	Dec. 31, 2014 Senior notes Fair Value. Nonrecurring basis	Dec. 31, 2013 Senior notes Fair Value. Nonrecurring basis	Dec. 31, 2014 Term loan Carrying Amount Nonrecurring basis	Dec. 31, 2013 Term loan Carrying Amount Nonrecurring basis	Dec. 31, 2014 Term loan Fair Value. Nonrecurring basis	Dec. 31, 2013 Term loan Fair Value. Nonrecurring basis	Dec. 31, 2014 Other indebtedness Carrying Amount Nonrecurring basis	Dec. 31, 2013 Other indebtedness Carrying Amount Nonrecurring basis	Dec. 31, 2014 Other indebtedness Fair Value. Nonrecurring basis	Dec. 31, 2013 Other indebtedness Fair Value. Nonrecurring basis	Dec. 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Other assets - FX embedded derivatives and investment in equity securities Recurring basis	Dec. 31, 2013 Quoted Prices in Active Markets for Identical Assets (Level 1) Other assets - FX embedded derivatives and investment in equity securities Recurring basis	Dec. 31, 2014 Significant Observable Inputs (Level 2) Other current assets - FX embedded derivatives, FX forward contracts and commodity contracts Recurring basis	Dec. 31, 2013 Significant Observable Inputs (Level 2) Other current assets - FX embedded derivatives, FX forward contracts and commodity contracts Recurring basis	Dec. 31, 2014 Significant Observable Inputs (Level 2) Other assets - FX embedded derivatives and investment in equity securities Recurring basis	Dec. 31, 2014 Significant Observable Inputs (Level 2) Accrued expenses - FX forward contracts, FX embedded derivatives and commodity contracts Recurring basis	Dec. 31, 2013 Significant Observable Inputs (Level 2) Accrued expenses - FX forward contracts, FX embedded derivatives and commodity contracts Recurring basis	Dec. 31, 2014 Significant Observable Inputs (Level 2) Other long-term liabilities - FX embedded derivatives and FX forward contracts Recurring basis	Dec. 31, 2013 Significant Observable Inputs (Level 2) Other long-term liabilities - FX embedded derivatives and FX forward contracts Recurring basis	Dec. 31, 2014 Significant Unobservable Inputs (Level 3) Recurring basis	Dec. 31, 2013 Significant Unobservable Inputs (Level 3) Recurring basis	Dec. 31, 2014 Significant Unobservable Inputs (Level 3) Other assets - FX embedded derivatives and investment in equity securities Recurring basis	Dec. 31, 2013 Significant Unobservable Inputs (Level 3) Other assets - FX embedded derivatives and investment in equity securities Recurring basis
Fair Value
Asset transfers between levels	$ 0	$ 0
Liability transfers between levels	0	0
Assets and liabilities measured at fair value on a recurring basis
Fair value of derivative assets																											3.0	5.1	2.0	1.2							7.4	1.4
Fair value of derivative liability																															10.6	6.8	1.0	2.1
Cash proceeds																										6.7
Reconciliation of Equity Securities using Significant Unobservable Inputs (Level 3)
Balance at beginning of period																																			1.4	7.5
Cash consideration received and other																																				(5.2)
Unrealized gains (losses) recorded to earnings																																			6.0	(0.9)
Balance at end of period																																			7.4	1.4
Fair value of other financial liabilities
Fair value of debt instruments														600.0	1,100.0	665.3	1,214.3	575.0	475.0	575.0	475.0	181.1	27.6	181.1	27.6
Impairments							270.4
Impairment charges			$ 8.4	$ 4.5	$ 18.0	$ 18.0	$ 11.0	$ 20.1	$ 20.1	$ 6.7	$ 11.7	$ 4.7	$ 6.7
Number of business associated with impairment charge				2

Quarterly Results (Unaudited) (Details) (USD $)	3 Months Ended									12 Months Ended						3 Months Ended				0 Months Ended	3 Months Ended	12 Months Ended			12 Months Ended	3 Months Ended				12 Months Ended				3 Months Ended		12 Months Ended	3 Months Ended	12 Months Ended					3 Months Ended		12 Months Ended	3 Months Ended	12 Months Ended	3 Months Ended	12 Months Ended		3 Months Ended
Quarterly Results (Unaudited) (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 29, 2014	Dec. 31, 2013	Sep. 28, 2013	Jun. 29, 2013	Mar. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014 South Africa	Dec. 31, 2013 South Africa	Dec. 31, 2012 South Africa	Mar. 29, 2014 7.625% senior notes	Feb. 11, 2014 7.625% senior notes	Dec. 31, 2013 7.625% senior notes	Dec. 31, 2007 7.625% senior notes	Jan. 07, 2014 EGS Electrical Group, LLC and Subsidiaries ("EGS")	Mar. 29, 2014 EGS Electrical Group, LLC and Subsidiaries ("EGS")	Dec. 31, 2014 EGS Electrical Group, LLC and Subsidiaries ("EGS")	Jan. 07, 2014 EGS Electrical Group, LLC and Subsidiaries ("EGS")	Dec. 31, 2013 EGS Electrical Group, LLC and Subsidiaries ("EGS")	Dec. 31, 2013 Discontinued operations	Dec. 31, 2014 TPS	Sep. 27, 2014 TPS	Jun. 28, 2014 TPS	Mar. 29, 2014 TPS	Dec. 31, 2014 TPS	Dec. 31, 2014 Flow Technology Reportable Segment	Dec. 31, 2013 Flow Technology Reportable Segment	Dec. 31, 2012 Flow Technology Reportable Segment	Dec. 31, 2014 Flow Technology Reportable Segment Trademarks	Dec. 31, 2013 Flow Technology Reportable Segment Trademarks	Dec. 31, 2013 Flow Technology Reportable Segment Trademarks	Dec. 31, 2014 Flow Technology and Thermal Equipment and Services Trademarks	Dec. 31, 2014 Flow Technology and Thermal Equipment and Services Trademarks	Dec. 31, 2013 Flow Technology and Thermal Equipment and Services Trademarks	Dec. 31, 2014 Thermal Equipment and Services reportable segment	Dec. 31, 2013 Thermal Equipment and Services reportable segment	Dec. 31, 2012 Thermal Equipment and Services reportable segment	Dec. 31, 2014 Thermal Equipment and Services reportable segment South Africa	Jun. 28, 2014 Thermal Equipment and Services reportable segment South Africa	Dec. 31, 2014 Thermal Equipment and Services reportable segment South Africa item	Dec. 31, 2014 Thermal Equipment and Services reportable segment Trademarks	Dec. 31, 2012 Thermal Equipment and Services reportable segment Trademarks	Dec. 31, 2014 Cooling	Dec. 31, 2014 Cooling	Dec. 31, 2012 Cooling	Dec. 31, 2014 Pension and postretirement benefit plans	Dec. 31, 2013 Pension and postretirement benefit plans	Mar. 29, 2014 Pension and postretirement benefit plans
Quarterly Results (Unaudited)
Operating revenues		$ 1,277,700,000	$ 1,171,200,000	$ 1,195,100,000	$ 1,077,100,000	$ 1,328,900,000	$ 1,162,700,000	$ 1,180,900,000	$ 1,100,800,000	$ 4,721,100,000	$ 4,773,300,000	$ 4,894,600,000	$ 137,300,000	$ 266,300,000	$ 322,400,000																$ 2,596,100,000	$ 2,638,000,000	$ 2,682,200,000							$ 1,329,900,000	$ 1,344,200,000	$ 1,490,900,000
Gross profit		367,500,000	347,400,000	347,200,000	301,500,000	401,200,000	344,000,000	338,500,000	297,300,000
Income (loss) from continuing operations, net of tax		(40,000,000)	66,700,000	56,700,000	296,700,000	85,100,000	66,600,000	43,500,000	16,100,000	380,100,000	211,300,000	(165,200,000)
Income (loss) from discontinued operations, net of tax		(3,200,000)	(2,900,000)	(6,700,000)	21,100,000	1,800,000	1,900,000	3,700,000	(6,100,000)	8,300,000	1,300,000	348,400,000
Net income		(43,200,000)	63,800,000	50,000,000	317,800,000	86,900,000	68,500,000	47,200,000	10,000,000	388,400,000	212,600,000	183,200,000
Less: Net income (loss) attributable to noncontrolling interests		(8,200,000)	300,000	(1,200,000)	(400,000)	(100,000)	(800,000)	2,000,000	1,300,000	(9,500,000)	2,400,000	2,800,000
Net income attributable to SPX Corporation common shareholders		(35,000,000)	63,500,000	51,200,000	318,200,000	87,000,000	69,300,000	45,200,000	8,700,000	397,900,000	210,200,000	180,400,000
Basic income (loss) per share of common stock:
Continuing operations (in dollars per share)		$ (0.78)	$ 1.59	$ 1.34	$ 6.72	$ 1.90	$ 1.51	$ 0.91	$ 0.32	$ 9.19	$ 4.61	$ (3.36)
Discontinued operations, net of tax (in dollars per share)		$ (0.08)	$ (0.07)	$ (0.15)	$ 0.47	$ 0.04	$ 0.04	$ 0.08	$ (0.13)	$ 0.19	$ 0.02	$ 6.97
Net income per share attributable to SPX Corporation common shareholders (in dollars per share)		$ (0.86)	$ 1.52	$ 1.19	$ 7.19	$ 1.94	$ 1.55	$ 0.99	$ 0.19	$ 9.38	$ 4.63	$ 3.61
Diluted income (loss) per share of common stock:
Continuing operations (in dollars per share)		$ (0.78)	$ 1.57	$ 1.32	$ 6.59	$ 1.87	$ 1.50	$ 0.90	$ 0.32	$ 9.05	$ 4.55	$ (3.36)
Discontinued operations, net of tax (in dollars per share)		$ (0.08)	$ (0.07)	$ (0.15)	$ 0.47	$ 0.04	$ 0.04	$ 0.08	$ (0.14)	$ 0.20	$ 0.02	$ 6.97
Net income per share attributable to SPX Corporation common shareholders (in dollars per share)		$ (0.86)	$ 1.50	$ 1.17	$ 7.06	$ 1.91	$ 1.54	$ 0.98	$ 0.18	$ 9.25	$ 4.57	$ 3.61
Other Information Related to Quarterly Results
Percentage of interest held in joint venture																					44.50%		44.50%	44.50%
Proceeds from sale of interest in joint venture																				574,100,000	574,100,000
Gain on sale of interest in joint venture																					491,200,000	491,200,000
Interest rate percentage																7.625%	7.625%	7.625%	7.625%
Loss on early extinguishment of debt										(32,500,000)						(32,500,000)
Pre-tax loss related to settlement charge																																																					15,300,000
Gains (losses) related to changes in the fair value of plan assets and actuarial gains (losses)																																																			(86,300,000)	800,000
Pension liability adjustment, tax (provision) benefit										(5,200,000)	1,000,000	800,000																																							27,200,000	(1,700,000)
Number of power projects																																													2
Reduction in revenue and segment income																																											25,000,000	8,300,000	33,300,000
Impairment charges																																		11,700,000	4,700,000	6,700,000	20,100,000	20,100,000	6,700,000							8,400,000	4,500,000	18,000,000	18,000,000	11,000,000
Income taxes	29,700,000									214,100,000	60,300,000	(14,200,000)													(500,000)
Income taxes on repatriation of earnings	18,600,000									18,600,000
Foreign income taxes on restructuring	6,000,000									6,000,000
Valuation allowance on foreign deferred income tax assets	5,100,000	5,100,000								5,100,000
Deferred tax liabilities reduction due to audit settlements and statute expirations	18,300,000
Cash consideration, exclusive of cash transferred										108,600,000	13,500,000	1,133,400,000																	42,500,000	42,500,000
Gain (loss) on sale of business, net of tax										$ 13,300,000	$ (4,000,000)	$ 313,400,000														$ 200,000	$ 200,000	$ 200,000	$ 21,500,000	$ 21,700,000
Number of days in the quarter			91 days	91 days			91 days	91 days