Document and Entity Information - shares |
3 Months Ended | |
|---|---|---|
Apr. 02, 2016 |
Apr. 29, 2016 |
|
| Document and Entity Information | ||
| Entity Registrant Name | SPX CORP | |
| Entity Central Index Key | 0000088205 | |
| Document Type | 10-Q | |
| Document Period End Date | Apr. 02, 2016 | |
| Amendment Flag | false | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Current Reporting Status | Yes | |
| Entity Filer Category | Large Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 41,606,639 | |
| Document Fiscal Year Focus | 2016 | |
| Document Fiscal Period Focus | Q1 |
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- Definition If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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| X | ||||||||||
- Definition This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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| X | ||||||||||
- Definition The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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| X | ||||||||||
- Definition A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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| X | ||||||||||
- Definition Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
- Definition Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
- Definition The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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| X | ||||||||||
- Definition Amount charged against earnings in the period for incurred and estimated costs associated with an exit from business activities or restructuring pursuant to a duly authorized plan, excluding asset retirement obligations. Such costs include charges associated with employee terminations, lease terminations, asset impairments, etc. No definition available.
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| X | ||||||||||
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of gain (loss), after tax expense or benefit and not previously recognized, resulting from the sale of a business component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition After tax income (loss) from operations of a business component (exclusive of any gain (loss) on disposal, or provision therefore) during the reporting period, until its disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Gain (loss) from sale or disposal of an organization or integrated set of activities (for example, but not limited to, a partnership or corporation) engaged in providing a product or service in a commercial, industrial, or professional environment. No definition available.
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| X | ||||||||||
- Definition Amount of impairment loss resulting from write-down of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of income (loss) from continuing operations attributable to the parent. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of income (loss) from a disposal group, net of income tax, reported as a separate component of income before extraordinary items after deduction or consideration of the amount allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Per diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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| X | ||||||||||
- Definition The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions |
Apr. 02, 2016 |
Dec. 31, 2015 |
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|---|---|---|---|---|---|
| Current assets: | |||||
| Cash and equivalents | $ 97.9 | $ 101.4 | |||
| Accounts receivable, net | 339.5 | 367.0 | |||
| Inventories, net | 189.3 | 170.7 | |||
| Other current assets | 39.0 | 36.1 | |||
| Assets held for sale | 0.0 | 107.1 | |||
| Total current assets | 665.7 | 782.3 | |||
| Property, plant and equipment: | |||||
| Land | 16.3 | 16.3 | |||
| Buildings and leasehold improvements | 122.3 | 120.4 | |||
| Machinery and equipment | 359.2 | 357.2 | |||
| Property, plant and equipment, gross | 497.8 | 493.9 | |||
| Accumulated depreciation | (280.8) | (274.4) | |||
| Property, plant and equipment, net | 217.0 | 219.5 | |||
| Goodwill | 344.9 | 342.8 | |||
| Intangibles, net | 147.8 | [1] | 154.2 | ||
| Other assets | 625.0 | 629.6 | |||
| Deferred income taxes | 51.8 | 50.9 | |||
| TOTAL ASSETS | 2,052.2 | 2,179.3 | |||
| Current liabilities: | |||||
| Accounts payable | 147.6 | 176.9 | |||
| Accrued expenses | 367.0 | 403.7 | |||
| Income taxes payable | 2.7 | 1.7 | |||
| Short-term debt | 38.4 | 22.1 | |||
| Current maturities of long-term debt | 13.5 | 9.1 | |||
| Liabilities held for sale | 0.0 | 41.3 | |||
| Total current liabilities | 569.2 | 654.8 | |||
| Long-term debt | 337.6 | 340.6 | |||
| Deferred and other income taxes | 49.8 | 55.2 | |||
| Other long-term liabilities | 810.3 | 820.4 | |||
| Total long-term liabilities | $ 1,197.7 | $ 1,216.2 | |||
| Commitments and contingent liabilities (Note 13) | |||||
| SPX Corporation shareholders’ equity: | |||||
| Common stock (100,372,654 and 41,564,665 issued and outstanding at April 2, 2016, respectively, 100,525,876 and 41,415,909 issued and outstanding at December 31, 2015, respectively) | $ 1.0 | $ 1.0 | |||
| Paid-in capital | 2,633.9 | 2,649.6 | |||
| Retained earnings | 910.8 | 897.8 | |||
| Accumulated other comprehensive income | 245.6 | 283.3 | |||
| Common stock in treasury (58,807,989 and 59,109,967 shares at April 2, 2016 and December 31, 2015, respectively) | (3,468.5) | (3,486.3) | |||
| Total SPX Corporation shareholders’ equity | 322.8 | 345.4 | |||
| Noncontrolling interests | (37.5) | (37.1) | |||
| Total equity | 285.3 | 308.3 | |||
| TOTAL LIABILITIES AND EQUITY | $ 2,052.2 | $ 2,179.3 | |||
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- Definition Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount classified as assets attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount before accumulated depreciation of building structures held for productive use including addition, improvement, or renovation to the structure, including, but not limited to, interior masonry, interior flooring, electrical, and plumbing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Value of all classes of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares exclude common shares repurchased by the entity and held as treasury shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences, after deferred tax asset, and other tax liabilities expected to be paid after one year or operating cycle, if longer. No definition available.
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| X | ||||||||||
- Definition Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards, net of deferred tax liability attributable to taxable temporary differences expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount before accumulated depletion of real estate held for productive use, excluding land held for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of obligation due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount classified as liabilities attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of long-term debt and capital lease obligation due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount before accumulated depreciation of tangible personal property used to produce goods and services, including, but is not limited to, tools, dies and molds, computer and office equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares |
Apr. 02, 2016 |
Dec. 31, 2015 |
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Common stock, shares issued | 100,372,654 | 100,525,876 |
| Common stock, shares outstanding | 41,564,665 | 41,415,909 |
| Common stock in treasury, shares | 58,807,989 | 59,109,967 |
| X | ||||||||||
- Definition Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Apr. 02, 2016 |
Mar. 28, 2015 |
|
| Cash flows used in operating activities: | ||
| Net income (loss) | $ 13.6 | $ (10.0) |
| Less: Income (loss) from discontinued operations, net of tax | (1.1) | 31.0 |
| Income (loss) from continuing operations | 14.7 | (41.0) |
| Adjustments to reconcile income (loss) from continuing operations to net cash used in operating activities: | ||
| Special charges, net | 0.3 | 2.8 |
| Gain on sale of dry cooling business | (17.9) | 0.0 |
| Impairment of intangible assets | 4.0 | 0.0 |
| Deferred and other income taxes | 1.3 | (2.5) |
| Depreciation and amortization | 7.2 | 10.4 |
| Pension and other employee benefits | 3.9 | 6.0 |
| Long-term incentive compensation | 2.8 | 21.0 |
| Other, net | 1.8 | 1.5 |
| Changes in operating assets and liabilities, net of effects from divestiture: | ||
| Accounts receivable and other assets | 25.9 | (14.9) |
| Inventories | (24.4) | (37.5) |
| Accounts payable, accrued expenses and other | (77.2) | (61.0) |
| Cash spending on restructuring actions | (3.3) | (1.2) |
| Net cash used in continuing operations | (60.9) | (116.4) |
| Net cash from (used in) discontinued operations | (1.3) | 7.6 |
| Net cash used in operating activities | (62.2) | (108.8) |
| Cash flows from (used in) investing activities: | ||
| Net proceeds from sale of dry cooling business | 45.9 | 0.0 |
| Capital expenditures | (2.0) | (2.8) |
| Net cash from (used in) continuing operations | 43.9 | (2.8) |
| Net cash used in discontinued operations | 0.0 | (11.7) |
| Net cash from (used in) investing activities | 43.9 | (14.5) |
| Cash flows from (used in) financing activities: | ||
| Borrowings under senior credit facilities | 28.9 | 196.0 |
| Repayments under senior credit facilities | (19.2) | (119.0) |
| Borrowings under trade receivables financing arrangement | 20.0 | 70.0 |
| Repayments under trade receivables financing arrangement | (20.0) | (25.0) |
| Net borrowings (repayments) under other financing arrangements | 6.4 | (1.6) |
| Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options and other | (1.7) | (5.2) |
| Dividends paid | 0.0 | (15.1) |
| Net cash from continuing operations | 14.4 | 100.1 |
| Net cash used in discontinued operations | 0.0 | (3.2) |
| Net cash from financing activities | 14.4 | 96.9 |
| Change in cash and equivalents due to changes in foreign currency exchange rates | 0.4 | (38.1) |
| Net change in cash and equivalents | (3.5) | (64.5) |
| Consolidated cash and equivalents, beginning of period | 101.4 | 427.6 |
| Consolidated cash and equivalents, end of period | $ 97.9 | $ 363.1 |
| X | ||||||||||
- Definition The cash inflow from the trade receivables agreement during the period. No definition available.
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| X | ||||||||||
- Definition The cash inflow from the senior credit facilities during the period. No definition available.
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| X | ||||||||||
- Definition The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations, and uncertain tax positions. No definition available.
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| X | ||||||||||
- Definition The cash outflow from the senior credit facilities during the period. No definition available.
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| X | ||||||||||
- Definition The cash outflow for the trade receivables agreement during the period. No definition available.
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| X | ||||||||||
- Definition Amount charged against earnings in the period for incurred and estimated costs associated with an exit from business activities or restructuring pursuant to a duly authorized plan, excluding asset retirement obligations. Such costs include charges associated with employee terminations, lease terminations, asset impairments, etc. No definition available.
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition For the entity and the disposal group, cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. No definition available.
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| X | ||||||||||
- Definition Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) of financing activities of discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) of investing activities of discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) of operating activities of discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Gain (loss) from sale or disposal of an organization or integrated set of activities (for example, but not limited to, a partnership or corporation) engaged in providing a product or service in a commercial, industrial, or professional environment. No definition available.
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| X | ||||||||||
- Definition Amount of impairment loss resulting from write-down of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the total amount of receivables from all parties and other operating assets not separately disclosed in the statement of cash flows. No definition available.
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of cash payments made as the result of exit or disposal activities. Excludes payments associated with a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Cash outflow in the form of ordinary dividends to common shareholders, preferred shareholders and noncontrolling interests, generally out of earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of cash outflow to satisfy an employee's income tax withholding obligation as part of a net-share settlement of a share-based award. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of pension and other (such as medical, dental and life insurance) postretirement benefit costs recognized during the period for (1) defined benefit plans (periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain (loss) on assets, prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments) and for (2) defined contribution plans (to the extent that a plan's defined contributions to an individual's account are to be made for periods in which that individual renders services, the net cost for a period is the contribution called for in that period; if a plan calls for contributions for periods after an individual retires or terminates, the estimated cost is accrued during the employee's service period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition This element represents the cash inflow during the period from the sale of a component of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The net cash inflow or outflow from other financing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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BASIS OF PRESENTATION |
3 Months Ended |
|---|---|
Apr. 02, 2016 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| BASIS OF PRESENTATION | BASIS OF PRESENTATION Unless otherwise indicated, “we,” “us” and “our” mean SPX Corporation and its consolidated subsidiaries (“SPX”). We prepared the condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules and regulations, certain footnotes or other financial information normally required by accounting principles generally accepted in the United States (“GAAP”) can be condensed or omitted. The financial statements represent our accounts after the elimination of intercompany transactions and, in our opinion, include the adjustments (consisting only of normal and recurring items) necessary for their fair presentation. Spin-Off of FLOW Business On September 26, 2015 (the “Distribution Date”), we completed the spin-off to our stockholders (the “Spin-Off”) of all the outstanding shares of SPX FLOW, Inc. (“SPX FLOW”), a wholly-owned subsidiary of SPX prior to the Spin-Off, which at the time of the Spin-Off held the businesses comprising our Flow Technology reportable segment, our Hydraulic Technologies business, and certain of our corporate subsidiaries (collectively, the “FLOW Business”). On the Distribution Date, each of our stockholders of record as of the close of business on September 16, 2015 (the “Record Date”) received one share of common stock of SPX FLOW for every share of SPX common stock held as of the Record Date. SPX FLOW is now an independent public company trading under the symbol “FLOW” on the New York Stock Exchange. Following the Spin-Off, SPX’s common stock continues to be listed on the New York Stock Exchange, but trades under the new ticker symbol, “SPXC”. The financial results of SPX FLOW for the three months ended March 28, 2015 have been classified as discontinued operations within the accompanying condensed consolidated financial statements. See Note 3 for additional information regarding discontinued operations. In connection with the Spin-Off, SPX and SPX FLOW entered into several administrative agreements covering various services, such as information technology, human resources and finance, to be provided by each party for a period of up to 12 months following the Distribution Date. These agreements contain customary mutual indemnification provisions. The financial activity associated with these agreements was not material to our condensed consolidated financial results for the quarter ended April 2, 2016. Sale of Dry Cooling Business On March 30, 2016, we completed the sale of our dry cooling business to Paharpur Cooling Towers Limited (“Paharpur”) for cash proceeds of $45.9 (net of cash transferred with the business of $3.0), resulting in a gain during the quarter ended April 2, 2016 of $17.9. The gain includes a reclassification from “Equity” of other comprehensive income totaling $40.4 related to foreign currency translation. The final sales price for the dry cooling business is subject to adjustment based on working capital existing at the closing date and is subject to agreement with the buyer. Final agreement of the working capital amount with the buyer has yet to occur. Additionally, we provided customary indemnifications to Paharpur in connection with the sale. Accordingly, it is possible that the sales price and resulting gain for this divestiture may be materially adjusted in subsequent periods. The assets and liabilities of the dry cooling business, as of December 31, 2015, have been classified as “held for sale” within the accompanying condensed consolidated balance sheet. See Note 3 for information on such assets and liabilities. New Segment Reporting Structure Prior to the Spin-Off, we aggregated certain of our operating segments into two reportable segments, Flow Technology and Thermal Equipment and Services, while our remaining operating segments, which included our Hydraulic Technologies business, were combined within an “All Other” category that we referred to as Industrial Products and Services and Other. As noted above, the Spin-Off included our Flow Technology reportable segment and our Hydraulic Technologies business. In addition, the Spin-Off resulted in a change of our chief operating decision maker (“CODM”). As a result of the Spin-Off, we realigned our segment reporting structure, effective for the quarter ended September 26, 2015. Under the realigned structure, our three reportable segments are as follows: HVAC, Detection and Measurement, and Power. The realigned segment reporting structure reflects the manner in which our new CODM is managing our business. See Note 4 for additional information regarding our realigned segment reporting structure. Other Preparing financial statements requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Actual results could differ from these estimates. The unaudited information included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements contained in our 2015 Annual Report on Form 10-K. Interim results are not necessarily indicative of full year results. We have reclassified certain prior year amounts, including (i) the results of discontinued operations, (ii) information on reportable segments, and (iii) debt issuance costs associated with the term loan under our senior credit facilities (see Note 2), to conform to the current year presentation. Unless otherwise indicated, amounts provided in these Notes pertain to continuing operations only. See Note 3 for information on discontinued operations. We establish actual interim closing dates using a fiscal calendar, which requires our businesses to close their books on the Saturday closest to the end of the 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 2016 are April 2, July 2 and October 1, compared to the respective March 28, June 27 and September 26, 2015 dates. We had six more days in the first quarter of 2016 and will have five fewer days in the fourth quarter of 2016 than in the respective 2015 periods. We do not believe the six additional days during the first quarter of 2016 had a material impact on our consolidated operating results, when compared to the consolidated operating results for the first quarter of 2015. |
| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The entire disclosure for the organization, consolidation and basis of presentation of financial statements disclosure, and significant accounting policies of the reporting entity. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NEW ACCOUNTING PRONOUNCEMENTS |
3 Months Ended |
|---|---|
Apr. 02, 2016 | |
| New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
| NEW ACCOUNTING PRONOUNCEMENTS | NEW ACCOUNTING PRONOUNCEMENTS The following is a summary of new accounting pronouncements that apply or may apply to our business. In May 2014, the Financial Accounting Standards Board (“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 standard is effective for interim and annual reporting periods beginning after December 15, 2017. We are currently evaluating the effect that this new standard will have on our condensed consolidated financial statements. In April 2015, the FASB issued a new standard that requires debt issuance costs related to a recognized debt liability to be reported in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. An amendment to this standard was issued in August 2015 that permits entities to present debt issuance costs related to line-of-credit arrangements as an asset and subsequently amortize such debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The standard was effective for interim and annual reporting periods beginning after December 15, 2015, and shall be applied retrospectively. We adopted this guidance on January 1, 2016 and, thus, the debt issuance costs associated with the term loan under our senior credit facilities have been presented as a direct deduction from the carrying amount of the term loan in the accompanying condensed consolidated balance sheets. See Note 10 for additional details. In February 2016, the FASB issued an amendment to existing guidance that requires lessees to recognize assets and liabilities for the rights and obligations created by long-term leases. In addition, this amendment requires new qualitative and quantitative disclosures about leasing arrangements. This standard is effective for annual periods beginning on or after December 15, 2018 for public business entities, and interim periods within those fiscal years. Early adoption is permitted, and adoption must be applied on a modified retrospective basis. We are currently evaluating the effect that this new standard will have on our condensed consolidated financial statements. In March 2016, the FASB issued an amendment to existing guidance that simplifies several aspects of the accounting for employee shared-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. This standard is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. Early adoption is permitted. We are currently evaluating the effect that this new standard will have on our condensed consolidated financial statements. |
| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE |
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| Discontinued Operations and Disposal Groups [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE | DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE Spin-Off of SPX FLOW As indicated in Note 1, we completed the spin-off of SPX FLOW on September 26, 2015. The results of SPX FLOW are presented as a discontinued operation within the accompanying condensed consolidated statement of operations and condensed consolidated statement of cash flows for the three months ended March 28, 2015. Major classes of line items constituting pre-tax income and after-tax income of SPX FLOW for the three months ended March 28, 2015 are shown below:
The following table presents selected financial information regarding cash flows of SPX FLOW that are included within discontinued operations in the condensed consolidated statement of cash flows for the three months ended March 28, 2015:
Other Discontinued Operations Activity In addition to the Spin-Off of SPX FLOW, we recognized net losses of $1.1 and $0.4 during the three months ended April 2, 2016 and March 28, 2015, respectively, resulting from revisions to liabilities retained from businesses discontinued prior to 2015. For the three months ended April 2, 2016 and March 28, 2015, the table below presents a reconciliation of discontinued operations activity to the related amounts in the condensed consolidated statements of operations:
Sale of Dry Cooling Business On November 20, 2015, we entered into an agreement for the sale of our dry cooling business. The assets and liabilities of our dry cooling business are presented as “held for sale” within the accompanying condensed consolidated balance sheet as of December 31, 2015. The major classes of assets and liabilities held for sale as of December 31, 2015 are shown below:
As indicated in Note 1, on March 30, 2016, we completed the sale of our dry cooling business to Paharpur for cash proceeds of $45.9 (net of cash transferred with the business of $3.0), resulting in a gain of $17.9 during the quarter. As previously indicated, the gain includes a reclassification from “Equity” of other comprehensive income totaling $40.4 related to foreign currency translation. |
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- References No definition available.
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- Definition The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, 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 segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INFORMATION ON REPORTABLE SEGMENTS |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INFORMATION ON REPORTABLE SEGMENTS | INFORMATION ON REPORTABLE SEGMENTS We are a global supplier of highly specialized, engineered solutions with operations in over 20 countries and sales in over 100 countries around the world. As indicated in Note 1, during the third quarter of 2015, we realigned our segment reporting structure. Under the realigned structure, we have aggregated our operating segments into the following three reportable segments: HVAC, Detection and Measurement, and Power. 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, distribution methods, and regulatory environment. 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 gains/losses on sales of businesses, impairment and special charges, pension and postretirement expense/income, long-term incentive compensation and other indirect corporate expenses. This is consistent with the way our CODM evaluates the results of each segment. HVAC Reportable Segment Our HVAC reportable segment engineers, designs, manufactures, installs and services cooling products for the HVAC and industrial markets, as well as boilers, comfort heating and ventilation products for the residential and commercial markets. The primary distribution channels for the segment’s products are direct to customers, independent manufacturing representatives, third-party distributors, and retailers. The segment primarily serves a North American customer base. Detection and Measurement Reportable Segment Our Detection and Measurement reportable segment engineers, designs, manufactures and installs underground pipe and cable locators and inspection equipment, bus fare collection systems, communication technologies, and specialty lighting. The primary distribution channels for the segment’s products are direct to customers and third-party distributors. The segment serves a global customer base, with a strong presence in North America, Europe and Asia. Power Reportable Segment Our Power reportable segment engineers, designs, manufactures, installs and services evaporative and hybrid cooling systems, rotating and stationary heat exchangers, and pollution control systems for the power generation market, and transformers for the power transmission and distribution market. The primary distribution channels for the segment’s products are direct to customers and third-party representatives. The segment serves a global customer base, with a strong presence in North America, Europe, Asia Pacific, and South Africa. Corporate Expense Corporate expense generally relates to the cost of our Charlotte, NC corporate headquarters. Corporate expense for the three months ended March 28, 2015 also included costs related to our former Asia Pacific center in Shanghai, China, which was part of the Spin-Off, costs that were previously allocated to the FLOW Business that do not meet the requirements to be presented within discontinued operations, and the cost of corporate employees who became employees of SPX FLOW at the time of the Spin-Off. Financial data for our reportable segments for the three months ended April 2, 2016 and March 28, 2015 are presented below:
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- References No definition available.
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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SPECIAL CHARGES, NET |
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| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SPECIAL CHARGES, NET | SPECIAL CHARGES, NET Special charges, net, for the three months ended April 2, 2016 and March 28, 2015 are described in more detail below:
HVAC Segment — Charges for the three months ended March 28, 2015 related primarily to facility consolidation efforts in Asia Pacific. Detection and Measurement Segment — Charges for the three months ended April 2, 2016 related to severance associated with our bus fare collection systems business, while charges for the three months ended March 28, 2015 related primarily to severance and other costs associated with restructuring initiatives at our specialty lighting business. Power Segment — Charges for the three months ended April 2, 2016 related primarily to severance costs associated with a restructuring action at the segment’s SPX Heat Transfer business in order to reduce the cost base of the business in response to reduced demand (see Note 7 for further details). Charges for the three months ended March 28, 2015 related primarily to severance and other costs associated with the continuation of restructuring actions at our Balcke Duerr and dry cooling businesses in order to reduce the cost base of the businesses primarily in response to reduced demand for nuclear power products and services in Europe. Expected charges still to be incurred under actions approved as of April 2, 2016 were approximately $3.5. The following is an analysis of our restructuring liabilities for the three months ended April 2, 2016 and March 28, 2015:
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- References No definition available.
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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. No definition available.
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INVENTORIES, NET |
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Apr. 02, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INVENTORIES, NET | INVENTORIES, NET Inventories at April 2, 2016 and December 31, 2015 comprised the following:
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 54% and 46% of total inventory at April 2, 2016 and December 31, 2015, respectively. Other inventories are valued using the first-in, first-out (“FIFO”) method. |
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- References No definition available.
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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GOODWILL AND OTHER INTANGIBLE ASSETS |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The changes in the carrying amount of goodwill, by reportable segment, were as follows:
Other Intangibles, Net Identifiable intangible assets at April 2, 2016 and December 31, 2015 comprised the following:
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At April 2, 2016, the net carrying value of intangible assets with determinable lives consisted of $4.6 in the HVAC segment, $0.3 in the Detection and Measurement segment and $27.9 in the Power segment. At April 2, 2016, trademarks with indefinite lives consisted of $89.3 in the HVAC segment, $11.1 in the Detection and Measurement segment and $14.6 in the Power segment. 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. A significant amount of judgment is involved in determining if an indication of impairment has occurred between annual testing dates. Such indication may include: a significant decline in expected future cash flows; a significant adverse change in legal factors or the business climate; unanticipated competition; and a more likely than not expectation of selling or disposing all, or a portion, of a reporting unit. 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 (fair value based on unobservable inputs - Level 3, as defined in Note 15). The primary basis for these projected revenues is the annual operating plan for each of the related businesses, which is prepared in the fourth quarter of each year. Based on our annual impairment testing during the fourth quarter of 2015, the estimated fair value of the trademarks for Heat Transfer was comparable to their carrying value of $9.5. The revenue projections used in the 2015 annual impairment analysis were based on the most recent historical trends for Heat Transfer. More recent trends indicate that Heat Transfer’s revenues for the foreseeable future will be significantly less than the projected amounts included in the 2015 annual analysis. In response to this new information, we performed an impairment analysis of Heat Transfer’s trademarks as of April 2, 2016. Based on such analysis, we recorded an impairment charge of $4.0 to our consolidated results of operations for the three months ended April 2, 2016. In addition to its trademarks, Heat Transfer has definite-lived intangible assets with an aggregate carrying value at April 2, 2016 of $27.9. Although there are no current indications of impairment associated with these assets, further deterioration in Heat Transfer’s financial results could lead to impairment charges in subsequent periods. No impairment charges were recorded in the first quarter of 2015. |
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- References No definition available.
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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WARRANTY |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Apr. 02, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Product Warranties Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| WARRANTY | WARRANTY The following is an analysis of our product warranty accrual for the periods presented:
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- References No definition available.
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- Definition The entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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EMPLOYEE BENEFIT PLANS |
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| Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EMPLOYEE BENEFIT PLANS | EMPLOYEE BENEFIT PLANS Net periodic benefit expense (income) for our pension and postretirement plans included the following components: Domestic Pension Plans
Foreign Pension Plans
Postretirement Plans
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- References No definition available.
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- Definition The entire disclosure for pension and other postretirement benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INDEBTEDNESS |
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INDEBTEDNESS | INDEBTEDNESS The following summarizes our debt activity (both current and non-current) for the three months ended April 2, 2016:
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Senior Credit Facilities A detailed description of our senior credit facilities is included in our 2015 Annual Report on Form 10-K. At April 2, 2016, we had $49.5 and $221.8 of outstanding letters of credit issued under our revolving credit and our foreign credit instrument facilities of our senior credit agreement, respectively. The weighted-average interest rate of outstanding borrowings under our senior credit agreement was approximately 2.2% at April 2, 2016. At April 2, 2016, we were in compliance with all covenants of our senior credit agreement. |
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- References No definition available.
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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DERIVATIVE FINANCIAL INSTRUMENTS |
3 Months Ended |
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Apr. 02, 2016 | |
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
| DERIVATIVE FINANCIAL INSTRUMENTS | DERIVATIVE FINANCIAL INSTRUMENTS Currency Forward Contracts 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 accumulated other comprehensive income (“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. We had FX forward contracts with an aggregate notional amount of $58.8 and $139.8 outstanding as of April 2, 2016 and December 31, 2015, respectively, all of which are scheduled to mature within one year. We also had FX embedded derivatives with an aggregate notional amount of $22.2 and $120.8 at April 2, 2016 and December 31, 2015, respectively, with notional amounts of $6.0 and $16.2 scheduled to mature within one and two years thereafter, respectively. The decline in the notional amount of FX forward contracts and FX embedded derivatives was due primarily to the sale of our dry cooling business. The unrealized losses, net of tax, recorded in AOCI related to FX forward contracts were $0.0 and $0.6 as of April 2, 2016 and December 31, 2015, respectively. With regard to our FX forward contacts, these arrangements are designed to provide the right of setoff in the event of counterparty default or insolvency, and, thus, we have elected to offset the fair values of these instruments in our condensed consolidated balance sheets. The gross fair values of our FX forward contracts were $0.7 and $0.1 (gross assets) and $0.2 and $1.5 (gross liabilities) at April 2, 2016 and December 31, 2015, respectively. The fair values of our embedded derivative instruments were not material in relation to our condensed consolidated balance sheets as of April 2, 2016 and December 31, 2015. Commodity Contracts From time to time, we enter into commodity contracts to manage the exposure on forecasted purchases of commodity raw materials. At April 2, 2016 and December 31, 2015, the outstanding notional amount of commodity contracts was 3.3 and 4.2 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 April 2, 2016 and December 31, 2015, the fair value of these contracts was $0.4 (current liability) and $1.7 (current liability), respectively. The unrealized losses, net of tax, recorded in AOCI were $0.6 and $1.2 as of April 2, 2016 and December 31, 2015, respectively. We anticipate reclassifying the unrealized losses as of April 2, 2016 to income over the next 12 months. |
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- References No definition available.
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SHAREHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION |
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| SHAREHOLDERS' EQUITY AND STOCK-BASED COMPENSATION | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SHAREHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION | SHAREHOLDERS’ EQUITY AND LONG-TERM INCENTIVE COMPENSATION Income (Loss) Per Share The following table sets forth the number of weighted-average shares outstanding used in the computation of basic and diluted income (loss) per share:
Diluted income per share calculations exclude the effect of unvested restricted stock shares/units and stock options when the assumed proceeds for these instruments exceed the average market value of the underlying common stock for the period. For the three months ended April 2, 2016, the weighted average number of unvested restricted stock shares/units and stock options excluded from the computations of diluted income per share were 1.169 and 1.085, respectively. For the three months ended March 28, 2015, 0.839 of unvested restricted stock shares/units and 0.323 of outstanding stock options were excluded from the computation of diluted income (loss) per share as we incurred losses from continuing operations during the period. Long-Term Incentive Compensation Long-term incentive compensation awards may be granted to certain eligible employees or non-employee directors. A detailed description of the awards granted prior to 2016 is included in our 2015 Annual Report on Form 10-K. Effective March 2, 2016, we granted long-term incentive awards to our executive officers, certain other members of senior management, and other eligible employees. Awards to executive officers and other members of senior management were comprised of performance stock units (“PSU’s”), stock options, time-based restricted stock units (“RSU’s”), and long-term cash awards, while other eligible employees were granted RSU’s and long-term cash awards. The PSU’s are eligible to vest at the end of a three-year performance period, with performance based on the total return of our stock over the three-year performance period against the S&P 600 Capital Goods Index. Stock options and RSU’s vest ratably over the three-year period subsequent to the date of grant. Long-term cash awards are eligible to vest at the end of a three-year performance measurement period, with performance based on our achieving a target segment income amount over the three-year measurement period. Non-employee directors receive annual long-term incentive awards at the time of our annual meeting of stockholders, with the 2016 meeting scheduled for May 24, 2016. Compensation expense within income from continuing operations related to long-term incentive awards totaled $2.8 and $21.0 for the three months ended April 2, 2016 and March 28, 2015, respectively. The related tax benefit was $1.1 and $8.1 for the three months ended April 2, 2016 and March 28, 2015, respectively. PSU's and RSU's We use the Monte Carlo simulation model valuation technique to determine fair value of our restricted stock shares and restricted stock units that contain a market condition (i.e., the PSU's). 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 PSU. The following table summarizes the PSU and RSU activity from December 31, 2015 through April 2, 2016:
As of April 2, 2016, there was $18.4 of unrecognized compensation cost related to PSU's and RSU's. We expect this cost to be recognized over a weighted-average period of 2.4 years. Stock Options On March 2, 2016, we granted 0.505 stock options, all of which were outstanding (but not exercisable) as of April 2, 2016. The exercise price per share of these options is $12.85 and the maximum contractual term of these options is ten years. The fair value per share of the stock options granted on March 2, 2016 was $4.11. The fair value of each option grant was estimated using the Black-Scholes option-pricing model with the following assumptions:
Annual expected stock price volatility is based on a weighted average of SPX's stock volatility since the Spin-Off and an average of the most recent six-year historical volatility of a peer company group. There is no annual expected dividend yield as we discontinued dividend payments in 2015 and do not expect to pay dividends for the foreseeable future. The average risk-free interest rate is based on the five-year and seven-year treasury constant maturity rates. The expected option life is based on a three-year pro-rata vesting schedule and represents the period of time that awards are expected to be outstanding. As of April 2, 2016, there was $4.8 of unrecognized compensation cost related to stock options. We expect this cost to be recognized over a weighted-average period of 2.7 years. Accumulated Other Comprehensive Income (Loss) The changes in the components of accumulated other comprehensive income, net of tax, for the three months ended April 2, 2016 were as follows:
The changes in the components of accumulated other comprehensive income, net of tax, for the three months ended March 28, 2015 were as follows:
The following summarizes amounts reclassified from each component of accumulated comprehensive income (loss) for the three months ended April 2, 2016 and March 28, 2015:
Common Stock in Treasury During the three months ended April 2, 2016 and March 28, 2015, “Common stock in treasury” was decreased by the settlement of restricted stock units issued from treasury stock of $17.8 and $5.6, respectively, and increased by $0.0 and $1.2, 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 connection with the Spin-Off, we discontinued dividend payments immediately following the second quarter dividend payment for 2015, which occurred on July 1, 2015. Dividends declared and paid for the first three months of 2015 totaled $15.4 and $15.1, respectively. Changes in Equity A summary of the changes in equity for the three months ended April 2, 2016 and March 28, 2015 is provided below:
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- Definition The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income, and compensation-related costs for equity-based compensation. Includes, but is not limited to, disclosure of policies, compensation plan details, equity-based arrangements to obtain goods and services, deferred compensation arrangements, and employee stock purchase plan details. No definition available.
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CONTINGENT LIABILITIES AND OTHER MATTERS |
3 Months Ended |
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Apr. 02, 2016 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| CONTINGENT LIABILITIES AND OTHER MATTERS | CONTINGENT LIABILITIES AND OTHER MATTERS General Numerous claims, complaints and proceedings arising in the ordinary course of business have been asserted or are pending against us or certain of our subsidiaries (collectively, “claims”). These claims relate to litigation matters (e.g., class actions, derivative lawsuits and contracts, intellectual property and competitive claims), environmental matters, product liability matters (predominately associated with alleged exposure to asbestos-containing materials), and other risk management matters (e.g., general liability, automobile, and workers’ compensation claims). Additionally, we may become subject to other claims of which we are currently unaware, which may be significant, or the claims of which we are aware may result in our incurring significantly greater loss than we anticipate. While we (and our subsidiaries) 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 significant portion of these claims, this insurance may be insufficient or unavailable (e.g., in the case 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. Our recorded liabilities related to these matters totaled $589.5 (including $534.1 for asbestos product liability matters) and $591.1 (including $534.4 for asbestos product liability matters) at April 2, 2016 and December 31, 2015, respectively. Of these amounts, $550.9 and $552.8 are included in “Other long-term liabilities” within our condensed consolidated balance sheets at April 2, 2016 and December 31, 2015, respectively, with the remainder included in “Accrued expenses.” The liabilities we record for these claims are based on a number of assumptions, including historical claims and payment experience and, with respect to asbestos claims, actuarial estimates of the future period during which additional claims are reasonably foreseeable. While we base our assumptions on facts currently known to us, they entail inherently subjective judgments and uncertainties. As a result, our current assumptions for estimating these liabilities may not prove accurate, and we may be required to adjust these liabilities in the future, which could result in charges to earnings. These variances relative to current expectations could have a material impact on our financial position and results of operations. Our asbestos-related claims are typical in certain of the industries in which we operate or pertain to legacy businesses we no longer operate. It is not unusual in these cases for fifty or more corporate entities to be named as defendants. We vigorously defend these claims, many of which are dismissed without payment, and the significant majority of costs related to these claims have historically been paid pursuant to our insurance arrangements. During the three months ended April 2, 2016 and March 28, 2015, our payments for asbestos-related matters, net of insurance recoveries, were $1.3 and $1.5, respectively. A significant increase in claims, costs and/or issues with existing insurance coverage (e.g., dispute with or insolvency of insurer(s)) could have a material adverse impact on our share of future payments related to these matters, and, as such, have a material impact on our financial position, results of operations and cash flows. We have recorded insurance recovery assets associated with the asbestos product liability matters, with such amounts totaling $493.3 at April 2, 2016 and December 31, 2015, and included in “Other assets” within our condensed consolidated balance sheets. These assets represent amounts that we believe we are or will be entitled to recover under agreements we have with insurance companies. The assets we record for these insurance recoveries are based on a number of assumptions, including the continued solvency of the insurers, and are subject to a variety of uncertainties. Our current assumptions for estimating these assets may not prove accurate, and we may be required to adjust these assets in the future, which could result in additional charges to earnings. These variances relative to current expectations could have a material impact on our financial position and results of operations. During the three months ended April 2, 2016 and March 28, 2015, there were no changes in estimates associated with the liabilities and assets related to our asbestos product liability matters. Large Power Projects in South Africa The business environment surrounding our large power projects in South Africa remains difficult, as we have experienced delays, cost over-runs, and various other challenges associated with a complex set of contractual relationships among the end customer, prime contractors, various subcontractors (including us and our subcontractors), and various suppliers. We currently are involved in a number of claim disputes relating to these challenges. We are pursuing various commercial alternatives for addressing these challenges, in attempt to mitigate our overall financial exposure. We recognize revenue associated with unapproved change orders and claims to the extent the related costs have been incurred and the amount expected of recovery is probable and reasonably estimable. At April 2, 2016, the projected revenues related to our large power projects in South Africa included approximately $26.0 related to claims and unapproved change orders. We believe these amounts are recoverable under the provisions of the related contracts and reflect our best estimate of recoverable amounts. Although we believe that our current estimates of revenues, costs and profits relating to these projects are reasonable, it is possible that future revisions of such estimates could have a material effect on our condensed consolidated financial statements. Litigation Matters 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; however, we cannot assure you that these proceedings or claims will not have a material effect on our financial position, results of operations or cash flows. Environmental Matters Our operations and properties are subject to federal, state, local and foreign regulatory requirements relating to environmental protection. It is our policy to comply fully with all applicable requirements. As part of our effort to comply, we have a comprehensive environmental compliance program that includes environmental audits conducted by internal and external independent professionals, as well as regular communications with our operating units regarding environmental compliance requirements and anticipated regulations. Based on current information, we believe that our operations are in substantial compliance with applicable environmental laws and regulations, and we are not aware of any violations that could have a material effect, individually or in the aggregate, on our business, financial condition, and results of operations or cash flows. As of April 2, 2016, we had liabilities for site investigation and/or remediation at 35 sites (35 sites at December 31, 2015) 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 April 2, 2016, we have been notified that we are potentially responsible and have received other notices of potential liability pursuant to various environmental laws at 24 sites at which the liability has not been settled, of which 7 sites 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 condensed 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 are not expected to have a material impact, individually or in the aggregate, on our financial position, results of operations or cash flows. Self-insured 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. 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 Power 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 condensed consolidated financial statements, we account for our share of the revenues and profits under the consortium arrangements. As of April 2, 2016, our share of the aggregate contract value on open consortium arrangements was $102.9 (of which approximately 71% had been recognized as revenue), and the aggregate contract value on open consortium arrangements was $382.0. As of December 31, 2015, our share of the aggregate contract value on open consortium arrangements was $100.2 (of which approximately 68% had been recognized as revenue), and the aggregate contract value on open consortium arrangements was $371.7. At April 2, 2016 and December 31, 2015, we recorded liabilities of $0.7 and $0.6, respectively, representing the estimated fair value of our potential obligation under the joint and several liability provisions associated with the consortium arrangements. |
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- References No definition available.
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- Definition The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INCOME TAXES |
3 Months Ended |
|---|---|
Apr. 02, 2016 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | INCOME TAXES Uncertain Tax Benefits As of April 2, 2016, we had gross unrecognized tax benefits of $44.7 (net unrecognized tax benefits of $25.9), all of which, if recognized, would impact our effective tax rate from continuing operations. We classify interest and penalties related to unrecognized tax benefits as a component of our income tax provision. As of April 2, 2016, gross accrued interest totaled $3.0 (net accrued interest of $2.0). As of April 2, 2016, we had no accrual for penalties included in our unrecognized tax benefits. 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 $6.0 to $10.0. The previously unrecognized tax benefits relate to a variety of tax matters relating to deemed income inclusions, transfer pricing and various state matters. Other Tax Matters For the three months ended April 2, 2016, we recorded an income tax provision of $3.5 on $18.2 of pre-tax income from continuing operations, resulting in an effective rate of 19.2%. This compares to an income tax benefit for the three months ended March 28, 2015 of $13.3 on $54.3 of a pre-tax loss from continuing operations, resulting in an effective rate of 24.5%. The most significant items impacting the income tax provision for the first quarter of 2016 were (i) $0.7 of taxes that were provided in connection with the $17.9 gain that was recorded during the quarter on the sale of our dry cooling business and (ii) approximately $4.7 of foreign losses generated during the period for which no tax benefit was recognized, as future realization of any such tax benefit is considered unlikely. The most significant items impacting the effective tax rate for the first quarter of 2015 were (i) $3.4 of foreign income taxes related to reorganization actions undertaken to facilitate the spin-off transaction and (ii) approximately $9.6 of foreign losses generated during the quarter for which no tax benefit was recognized, as future realization of any such tax benefit is considered unlikely. We perform reviews of our income tax positions on a continuous basis and accrue for potential uncertain positions when we determine that an uncertain position meets the criteria of the Income Taxes Topic of the Codification. Accruals for these uncertain tax positions are recorded in “Income taxes payable” and “Deferred and other income taxes” in the accompanying condensed consolidated balance sheets based on the expectation as to the timing of when the matters will be resolved. As events change and 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 2013 and 2014 tax years and those returns are subject to examination. With regard to all 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 or administrative appeal. 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 is in Germany for the 2010 through 2013 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. |
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- References No definition available.
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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FAIR VALUE |
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Apr. 02, 2016 | |||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||
| FAIR VALUE | 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:
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. 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 derivative financial 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 April 2, 2016, there has been no significant impact to the fair value of our derivative liabilities due to our own credit risk, as the related instruments are collateralized under our senior credit facilities. Similarly, there has been no significant impact to the fair value of our derivative assets based on our evaluation of our counterparties’ credit risks. 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. Indebtedness The estimated fair value of our debt instruments as of April 2, 2016 and December 31, 2015 approximated the related carrying values due primarily to the variable market-based interest rates for such instruments. See Note 10 for further details. |
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- References No definition available.
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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BASIS OF PRESENTATION (Policies) |
3 Months Ended |
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Apr. 02, 2016 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Basis of Presentation | We prepared the condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules and regulations, certain footnotes or other financial information normally required by accounting principles generally accepted in the United States (“GAAP”) can be condensed or omitted. The financial statements represent our accounts after the elimination of intercompany transactions and, in our opinion, include the adjustments (consisting only of normal and recurring items) necessary for their fair presentation. |
| Spin-Off of FLOW Business and Sale of Dry Cooling Business | Spin-Off of FLOW Business On September 26, 2015 (the “Distribution Date”), we completed the spin-off to our stockholders (the “Spin-Off”) of all the outstanding shares of SPX FLOW, Inc. (“SPX FLOW”), a wholly-owned subsidiary of SPX prior to the Spin-Off, which at the time of the Spin-Off held the businesses comprising our Flow Technology reportable segment, our Hydraulic Technologies business, and certain of our corporate subsidiaries (collectively, the “FLOW Business”). On the Distribution Date, each of our stockholders of record as of the close of business on September 16, 2015 (the “Record Date”) received one share of common stock of SPX FLOW for every share of SPX common stock held as of the Record Date. SPX FLOW is now an independent public company trading under the symbol “FLOW” on the New York Stock Exchange. Following the Spin-Off, SPX’s common stock continues to be listed on the New York Stock Exchange, but trades under the new ticker symbol, “SPXC”. The financial results of SPX FLOW for the three months ended March 28, 2015 have been classified as discontinued operations within the accompanying condensed consolidated financial statements. See Note 3 for additional information regarding discontinued operations. In connection with the Spin-Off, SPX and SPX FLOW entered into several administrative agreements covering various services, such as information technology, human resources and finance, to be provided by each party for a period of up to 12 months following the Distribution Date. These agreements contain customary mutual indemnification provisions. The financial activity associated with these agreements was not material to our condensed consolidated financial results for the quarter ended April 2, 2016. Sale of Dry Cooling Business On March 30, 2016, we completed the sale of our dry cooling business to Paharpur Cooling Towers Limited (“Paharpur”) for cash proceeds of $45.9 (net of cash transferred with the business of $3.0), resulting in a gain during the quarter ended April 2, 2016 of $17.9. The gain includes a reclassification from “Equity” of other comprehensive income totaling $40.4 related to foreign currency translation. The final sales price for the dry cooling business is subject to adjustment based on working capital existing at the closing date and is subject to agreement with the buyer. Final agreement of the working capital amount with the buyer has yet to occur. Additionally, we provided customary indemnifications to Paharpur in connection with the sale. Accordingly, it is possible that the sales price and resulting gain for this divestiture may be materially adjusted in subsequent periods. The assets and liabilities of the dry cooling business, as of December 31, 2015, have been classified as “held for sale” within the accompanying condensed consolidated balance sheet. |
| New Segment Reporting Structure | New Segment Reporting Structure Prior to the Spin-Off, we aggregated certain of our operating segments into two reportable segments, Flow Technology and Thermal Equipment and Services, while our remaining operating segments, which included our Hydraulic Technologies business, were combined within an “All Other” category that we referred to as Industrial Products and Services and Other. As noted above, the Spin-Off included our Flow Technology reportable segment and our Hydraulic Technologies business. In addition, the Spin-Off resulted in a change of our chief operating decision maker (“CODM”). As a result of the Spin-Off, we realigned our segment reporting structure, effective for the quarter ended September 26, 2015. Under the realigned structure, our three reportable segments are as follows: HVAC, Detection and Measurement, and Power. The realigned segment reporting structure reflects the manner in which our new CODM is managing our business. |
| Use of Estimates | Preparing financial statements requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Actual results could differ from these estimates. The unaudited information included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements contained in our 2015 Annual Report on Form 10-K. Interim results are not necessarily indicative of full year results. We have reclassified certain prior year amounts, including (i) the results of discontinued operations, (ii) information on reportable segments, and (iii) debt issuance costs associated with the term loan under our senior credit facilities (see Note 2), to conform to the current year presentation. Unless otherwise indicated, amounts provided in these Notes pertain to continuing operations only. See Note 3 for information on discontinued operations. |
| Fiscal Period | 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 2016 are April 2, July 2 and October 1, compared to the respective March 28, June 27 and September 26, 2015 dates. We had six more days in the first quarter of 2016 and will have five fewer days in the fourth quarter of 2016 than in the respective 2015 periods. We do not believe the six additional days during the first quarter of 2016 had a material impact on our consolidated operating results, when compared to the consolidated operating results for the first quarter of 2015. |
| New Accounting Pronouncements | NEW ACCOUNTING PRONOUNCEMENTS The following is a summary of new accounting pronouncements that apply or may apply to our business. In May 2014, the Financial Accounting Standards Board (“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 standard is effective for interim and annual reporting periods beginning after December 15, 2017. We are currently evaluating the effect that this new standard will have on our condensed consolidated financial statements. In April 2015, the FASB issued a new standard that requires debt issuance costs related to a recognized debt liability to be reported in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. An amendment to this standard was issued in August 2015 that permits entities to present debt issuance costs related to line-of-credit arrangements as an asset and subsequently amortize such debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The standard was effective for interim and annual reporting periods beginning after December 15, 2015, and shall be applied retrospectively. We adopted this guidance on January 1, 2016 and, thus, the debt issuance costs associated with the term loan under our senior credit facilities have been presented as a direct deduction from the carrying amount of the term loan in the accompanying condensed consolidated balance sheets. See Note 10 for additional details. In February 2016, the FASB issued an amendment to existing guidance that requires lessees to recognize assets and liabilities for the rights and obligations created by long-term leases. In addition, this amendment requires new qualitative and quantitative disclosures about leasing arrangements. This standard is effective for annual periods beginning on or after December 15, 2018 for public business entities, and interim periods within those fiscal years. Early adoption is permitted, and adoption must be applied on a modified retrospective basis. We are currently evaluating the effect that this new standard will have on our condensed consolidated financial statements. In March 2016, the FASB issued an amendment to existing guidance that simplifies several aspects of the accounting for employee shared-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. This standard is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. Early adoption is permitted. We are currently evaluating the effect that this new standard will have on our condensed consolidated financial statements. |
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- Definition Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). No definition available.
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- Definition Disclosure of accounting policy for any discontinued operations. The results of operations of a component of an entity that either has been disposed of or is classified as held for sale is reported in discontinued operations if both: (a) the operations and cash flows of the component have been (or will be) eliminated from the ongoing operations of the entity as a result of the disposal transaction and (b) the entity will not have any significant continuing involvement in the operations of the component after the disposal transaction. If the entity elects to allocate interest expense to a discontinued operation, it may disclose its accounting policy for this election and describe its method of allocation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for determining an entity's fiscal year or other fiscal period. This disclosure may include identification of the fiscal period end-date, the length of the fiscal period, any reporting period lag between the entity and its subsidiaries, or equity investees. If a reporting lag exists, the closing date of the entity having a different period end is generally noted, along with an explanation of the necessity for using different closing dates. Any intervening events that materially affect the entity's financial position or results of operations are generally also disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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- References No definition available.
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- Definition Disclosure of accounting policy for segment reporting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE (Tables) |
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| Schedule of income (loss) from discontinued operations and related income taxes | Major classes of line items constituting pre-tax income and after-tax income of SPX FLOW for the three months ended March 28, 2015 are shown below:
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| Schedule of disposal groups, including discontinued operations, income statement, balance sheet and additional disclosures | For the three months ended April 2, 2016 and March 28, 2015, the table below presents a reconciliation of discontinued operations activity to the related amounts in the condensed consolidated statements of operations:
The following table presents selected financial information regarding cash flows of SPX FLOW that are included within discontinued operations in the condensed consolidated statement of cash flows for the three months ended March 28, 2015:
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| Major classes of assets and liabilities held for sale | The major classes of assets and liabilities held for sale as of December 31, 2015 are shown below:
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- Definition Disposal Groups, Including Discontinued Operations [Table Text Block] No definition available.
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- Definition Tabular disclosure of the income (loss) from discontinued operations and the related income taxes. No definition available.
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- References No definition available.
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INFORMATION ON REPORTABLE SEGMENTS (Tables) |
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| Schedule of financial data for reportable segments and other operating segments | Financial data for our reportable segments for the three months ended April 2, 2016 and March 28, 2015 are presented below:
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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SPECIAL CHARGES, NET (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Apr. 02, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of special charges, net | Special charges, net, for the three months ended April 2, 2016 and March 28, 2015 are described in more detail below:
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| Schedule of the analysis of the entity's restructuring liabilities | The following is an analysis of our restructuring liabilities for the three months ended April 2, 2016 and March 28, 2015:
___________________________
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| X | ||||||||||
- Definition Tabular disclosure of the restructuring, impairment and other related charges by reporting segment of the entity. No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure to roll forward the entity's restructuring and integration reserves associated with the exit from or disposal of business activities or restructuring for the period. No definition available.
|
| X | ||||||||||
- References No definition available.
|
INVENTORIES, NET (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Apr. 02, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of inventories | Inventories at April 2, 2016 and December 31, 2015 comprised the following:
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Apr. 02, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of changes in the carrying amount of goodwill, by reportable segment and other operating segments | The changes in the carrying amount of goodwill, by reportable segment, were as follows:
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| Schedule of identifiable intangible assets | Identifiable intangible assets at April 2, 2016 and December 31, 2015 comprised the following:
___________________________
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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WARRANTY (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Apr. 02, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Product Warranties Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of product warranty accrual | The following is an analysis of our product warranty accrual for the periods presented:
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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EMPLOYEE BENEFIT PLANS (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Apr. 02, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Domestic Pension Plans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Employee Benefit Plans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of net periodic benefit (income) expense | Net periodic benefit expense (income) for our pension and postretirement plans included the following components: Domestic Pension Plans
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| Foreign Pension Plans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Employee Benefit Plans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of net periodic benefit (income) expense | Foreign Pension Plans
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| Postretirement Plans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Employee Benefit Plans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of net periodic benefit (income) expense | Postretirement Plans
|
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
INDEBTEDNESS (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Apr. 02, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of debt activity (both current and non-current) | The following summarizes our debt activity (both current and non-current) for the three months ended April 2, 2016:
___________________________
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
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SHAREHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Apr. 02, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SHAREHOLDERS' EQUITY AND STOCK-BASED COMPENSATION | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of weighted-average shares outstanding used in the computation of basic and diluted income per share | The following table sets forth the number of weighted-average shares outstanding used in the computation of basic and diluted income (loss) per share:
|
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| Schedule of PSU and RSU activity | The following table summarizes the PSU and RSU activity from December 31, 2015 through April 2, 2016:
|
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| Schedule of fair value of each option grant | The fair value of each option grant was estimated using the Black-Scholes option-pricing model with the following assumptions:
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| Schedule of changes in the components of accumulated other comprehensive income (loss) | The changes in the components of accumulated other comprehensive income, net of tax, for the three months ended April 2, 2016 were as follows:
The changes in the components of accumulated other comprehensive income, net of tax, for the three months ended March 28, 2015 were as follows:
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| Schedule of amounts reclassified from each component of accumulated comprehensive income (loss) | The following summarizes amounts reclassified from each component of accumulated comprehensive income (loss) for the three months ended April 2, 2016 and March 28, 2015:
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| Schedule of changes in equity | A summary of the changes in equity for the three months ended April 2, 2016 and March 28, 2015 is provided below:
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
BASIS OF PRESENTATION (Details) $ in Millions |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Mar. 30, 2016
USD ($)
|
Apr. 02, 2016
USD ($)
segment
|
Mar. 28, 2015
USD ($)
|
Sep. 16, 2015
segment
|
|
| Discontinued Operations | ||||
| Net proceeds from sale of dry cooling business | $ 45.9 | $ 0.0 | ||
| Gain on sale of dry cooling business | $ 17.9 | 0.0 | ||
| Number of reportable segments | segment | 3 | 2 | ||
| Length of second and third quarter | 91 days | |||
| SPX Flow, Inc | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | ||||
| Discontinued Operations | ||||
| Pro rata distribution ratio of common stock received by shareholders as of record date | 1 | |||
| Dry Cooling Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations | ||||
| Discontinued Operations | ||||
| Net proceeds from sale of dry cooling business | $ 45.9 | |||
| Net cash transferred with the business | $ 3.0 | |||
| Gain on sale of dry cooling business | $ 17.9 | |||
| Dry Cooling Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Amount Reclassified from AOCI | Foreign Currency Translation Adjustment | FX Forward Contracts | ||||
| Discontinued Operations | ||||
| Gain on sale of dry cooling business | $ 40.4 | $ 0.0 | ||
| X | ||||||||||
- Definition Represents the number of days in the second and third quarter for which the entity reports its quarterly results of operations. No definition available.
|
| X | ||||||||||
- Definition Stockholders' Equity Note, Spinoff Transaction, Distribution of Common Shares, Ratio No definition available.
|
| X | ||||||||||
- Definition Reduction in cash due to no longer including the former subsidiary's cash in the consolidated entity's cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Gain (loss) from sale or disposal of an organization or integrated set of activities (for example, but not limited to, a partnership or corporation) engaged in providing a product or service in a commercial, industrial, or professional environment. No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. No definition available.
|
| X | ||||||||||
- Definition This element represents the cash inflow during the period from the sale of a component of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE (Details) - USD ($) $ in Millions |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
Mar. 30, 2016 |
Apr. 02, 2016 |
Mar. 28, 2015 |
Dec. 31, 2015 |
|||
| Results of operations for discontinued operations | ||||||
| Income before taxes | $ (1.2) | $ 53.8 | ||||
| Income tax provision | 0.1 | (22.8) | ||||
| Income (loss) from discontinued operations, net of tax | (1.1) | 31.0 | ||||
| Income from discontinued operations attributable to SPX Corporation common shareholders, net of tax | (1.1) | 31.3 | ||||
| Income (loss) from discontinued operations and related income taxes | ||||||
| Pre-tax loss | (1.2) | 53.8 | ||||
| Income tax (provision) benefit | 0.1 | (22.8) | ||||
| Income (loss) from discontinued operations, net of tax | (1.1) | 31.0 | ||||
| Assets: | ||||||
| Assets held for sale | 0.0 | $ 107.1 | ||||
| Liabilities: | ||||||
| Liabilities held for sale | 0.0 | 41.3 | ||||
| Net proceeds from sale of dry cooling business | 45.9 | 0.0 | ||||
| Gain on sale of dry cooling business | 17.9 | 0.0 | ||||
| SPX Flow, Inc | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | ||||||
| Results of operations for discontinued operations | ||||||
| Revenues | 570.6 | |||||
| Costs of products sold | 383.2 | |||||
| Selling, general and administrative | [1] | 118.3 | ||||
| Intangible amortization | 5.9 | |||||
| Special charges | 3.8 | |||||
| Other income, net | 5.4 | |||||
| Interest expense, net | (10.6) | |||||
| Income before taxes | 0.0 | 54.2 | ||||
| Income tax provision | 0.0 | (22.8) | ||||
| Income (loss) from discontinued operations, net of tax | 0.0 | 31.4 | ||||
| Less: Net loss attributable to noncontrolling interest | (0.3) | |||||
| Income from discontinued operations attributable to SPX Corporation common shareholders, net of tax | 31.7 | |||||
| Professional fees and other costs incurred in connection with the Spin Off | 5.0 | |||||
| Non-cash items included in income from discontinued operations | ||||||
| Depreciation and amortization | 14.6 | |||||
| Capital expenditures | 11.6 | |||||
| Income (loss) from discontinued operations and related income taxes | ||||||
| Pre-tax loss | 0.0 | 54.2 | ||||
| Income tax (provision) benefit | 0.0 | (22.8) | ||||
| Income (loss) from discontinued operations, net of tax | 0.0 | 31.4 | ||||
| Other businesses sold prior to the earliest date presented in the financial statements | Discontinued Operations, Disposed of by Sale | ||||||
| Non-cash items included in income from discontinued operations | ||||||
| Adjustment to gain or loss on sale of discontinued operations, net of tax | 1.1 | 0.4 | ||||
| All other | Discontinued Operations, Disposed of by Sale | ||||||
| Results of operations for discontinued operations | ||||||
| Income before taxes | (1.2) | (0.4) | ||||
| Income tax provision | 0.1 | 0.0 | ||||
| Income (loss) from discontinued operations, net of tax | (1.1) | (0.4) | ||||
| Income (loss) from discontinued operations and related income taxes | ||||||
| Pre-tax loss | (1.2) | (0.4) | ||||
| Income tax (provision) benefit | 0.1 | 0.0 | ||||
| Income (loss) from discontinued operations, net of tax | (1.1) | (0.4) | ||||
| Dry Cooling Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations | ||||||
| Assets: | ||||||
| Accounts receivable, net | 49.2 | |||||
| Inventories, net | 12.9 | |||||
| Other current assets | 13.9 | |||||
| Property, plant and equipment, net | 3.3 | |||||
| Goodwill | 10.7 | |||||
| Intangibles, net | 8.3 | |||||
| Other assets | 8.8 | |||||
| Assets held for sale | 107.1 | |||||
| Liabilities: | ||||||
| Accounts payable | 13.7 | |||||
| Accrued expenses | 25.3 | |||||
| Other long-term liabilities | 2.3 | |||||
| Liabilities held for sale | $ 41.3 | |||||
| Net proceeds from sale of dry cooling business | $ 45.9 | |||||
| Net cash transferred with the business | $ 3.0 | |||||
| Gain on sale of dry cooling business | 17.9 | |||||
| Dry Cooling Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations | FX Forward Contracts | Amount Reclassified from AOCI | Foreign Currency Translation Adjustment | ||||||
| Liabilities: | ||||||
| Gain on sale of dry cooling business | $ 40.4 | $ 0.0 | ||||
| ||||||
| X | ||||||||||
- Definition Capital Expenditure, Discontinued Operations No definition available.
|
| X | ||||||||||
- Definition Disposal Group, Including Discontinued Operation, Professional Fees and Other Costs No definition available.
|
| X | ||||||||||
- Definition Disposal Group, Including Discontinued Operation, Special Charges No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount classified as assets attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Reduction in cash due to no longer including the former subsidiary's cash in the consolidated entity's cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of expense from discontinued operations, that reflects the allocation of the cost of tangible and intangible assets over the assets' useful lives. No definition available.
|
| X | ||||||||||
- Definition Adjustment, net of tax, to an amount previously reported in discontinued operations that is directly related to the disposal of the component in a prior period. Examples of circumstances leading to such adjustments include the resolution of contingencies relating to the terms of the disposal transaction or relating to the operations of the component prior to its disposal, and the settlement of certain employee benefit plan obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Overall income (loss) from a disposal group that is classified as a component of the entity, before income tax, reported as a separate component of income before extraordinary items. Includes the following (before income tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tax effect allocated to a disposal group that is classified as a component of the entity reported as a separate component of income before extraordinary items. Includes the tax effects of the following: income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount classified as accounts payable attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount classified as accrued liabilities attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of costs of goods sold attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of depreciation and amortization attributable to disposal group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of general and administrative expense attributable to disposal group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount classified as goodwill attributable to disposal group held for sale or disposed of. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount classified as intangible assets, excluding goodwill, attributable to disposal group held for sale or disposed of. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of interest expense allocated to disposal group, including a discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount classified as other assets attributable to disposal group held for sale or disposed of. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount classified as other assets attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of other income attributable to disposal group. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount classified as other liabilities attributable to disposal group held for sale or disposed of. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount classified as property, plant and equipment attributable to disposal group held for sale or disposed of. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of sales or other form of revenues attributable to the disposal group, including a component of the entity (discontinued operation), during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Gain (loss) from sale or disposal of an organization or integrated set of activities (for example, but not limited to, a partnership or corporation) engaged in providing a product or service in a commercial, industrial, or professional environment. No definition available.
|
| X | ||||||||||
- Definition Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This element represents the overall income (loss) from a disposal group that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items, which is apportioned to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This item includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of income (loss) from a disposal group, net of income tax, reported as a separate component of income before extraordinary items after deduction or consideration of the amount allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount classified as inventory attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount classified as liabilities attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition This element represents the cash inflow during the period from the sale of a component of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount classified as trade receivables attributable to disposal group held for sale or disposed of. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
INFORMATION ON REPORTABLE SEGMENTS (Details) $ in Millions |
3 Months Ended | 9 Months Ended | |||||
|---|---|---|---|---|---|---|---|
|
Apr. 02, 2016
USD ($)
country
segment
|
Mar. 28, 2015
USD ($)
|
Sep. 16, 2015
segment
|
Dec. 31, 2015
USD ($)
|
||||
| Information on reportable segments and other operating segments | |||||||
| Number of reportable segments | segment | 3 | 2 | |||||
| Revenues: | |||||||
| Revenues | [1] | $ 389.3 | $ 376.3 | ||||
| Revenues recognized under percentage of completion method | 126.0 | 125.4 | |||||
| Income | |||||||
| Pension and postretirement expense | (3.9) | (6.0) | |||||
| Special charges, net | (0.3) | (2.8) | |||||
| Impairment of intangible assets | (4.0) | 0.0 | |||||
| Gain on sale of dry cooling business | 17.9 | 0.0 | |||||
| Consolidated operating income (loss) | 20.3 | (44.6) | |||||
| Assets | |||||||
| Costs and estimated earnings in excess of billings | 90.6 | $ 106.3 | |||||
| Liabilities | |||||||
| Billings in excess of costs and estimated earnings on uncompleted contracts reported as a component of accrued expenses | 85.4 | $ 116.3 | |||||
| Reportable and other operating segments | |||||||
| Income | |||||||
| Consolidated operating income (loss) | 21.4 | 10.4 | |||||
| Corporate | |||||||
| Income | |||||||
| Corporate expense | (10.9) | (30.7) | |||||
| Segment Reconciling Items | |||||||
| Income | |||||||
| Long-term incentive compensation expense | (2.8) | (21.0) | |||||
| Pension and postretirement expense | (1.0) | (0.5) | |||||
| Special charges, net | (0.3) | (2.8) | |||||
| Impairment of intangible assets | (4.0) | 0.0 | |||||
| Gain on sale of dry cooling business | 17.9 | 0.0 | |||||
| HVAC segment | |||||||
| Revenues: | |||||||
| Revenues | [1] | 111.6 | 107.7 | ||||
| Income | |||||||
| Special charges, net | 0.0 | (1.4) | |||||
| HVAC segment | Reportable and other operating segments | |||||||
| Income | |||||||
| Consolidated operating income (loss) | 15.9 | 12.9 | |||||
| Detection and Measurement segment | |||||||
| Revenues: | |||||||
| Revenues | [1] | 55.4 | 51.9 | ||||
| Income | |||||||
| Special charges, net | (0.2) | (0.5) | |||||
| Detection and Measurement segment | Reportable and other operating segments | |||||||
| Income | |||||||
| Consolidated operating income (loss) | 11.0 | 8.9 | |||||
| Power segment | |||||||
| Revenues: | |||||||
| Revenues | [1] | 222.3 | 216.7 | ||||
| Income | |||||||
| Special charges, net | (0.1) | (0.9) | |||||
| Power segment | Reportable and other operating segments | |||||||
| Income | |||||||
| Consolidated operating income (loss) | $ (5.5) | $ (11.4) | |||||
| Minimum | |||||||
| Information on reportable segments and other operating segments | |||||||
| Number of countries in which entity operates (over 20 countries) | country | 20 | ||||||
| Number of countries in which entity sells its products and services (over 100 countries) | country | 100 | ||||||
| |||||||
| X | ||||||||||
- Definition Represents the number of countries in which the entity sells its products and services. No definition available.
|
| X | ||||||||||
- Definition The amount of expenses at the corporate level which are not otherwise separately disclosed and are not allocated to the reportable segments or other operating segments for reporting purposes. No definition available.
|
| X | ||||||||||
- Definition Represents the revenue recognized during the period using the percentage-of-completion method. No definition available.
|
| X | ||||||||||
- Definition Amount charged against earnings in the period for incurred and estimated costs associated with an exit from business activities or restructuring pursuant to a duly authorized plan, excluding asset retirement obligations. Such costs include charges associated with employee terminations, lease terminations, asset impairments, etc. No definition available.
|
| X | ||||||||||
- Definition Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Liability attributable to (i) billings in excess of costs under the percentage of completion contract accounting method representing the difference between contractually invoiced amounts (billings) and revenue recognized based, for example, on costs incurred to estimated total costs at period end or (ii) contractually invoiced amounts (billings) in excess of costs incurred and accumulated under the completed contract accounting method that are expected to be realized within one year or one operating cycle, whichever is longer, from the reporting date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of receivable reflecting the cost incurred on uncompleted contracts in excess of related billings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Gain (loss) from sale or disposal of an organization or integrated set of activities (for example, but not limited to, a partnership or corporation) engaged in providing a product or service in a commercial, industrial, or professional environment. No definition available.
|
| X | ||||||||||
- Definition Amount of impairment loss resulting from write-down of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The number of countries in which the entity operates as of balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. No definition available.
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of pension and other (such as medical, dental and life insurance) postretirement benefit costs recognized during the period for (1) defined benefit plans (periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain (loss) on assets, prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments) and for (2) defined contribution plans (to the extent that a plan's defined contributions to an individual's account are to be made for periods in which that individual renders services, the net cost for a period is the contribution called for in that period; if a plan calls for contributions for periods after an individual retires or terminates, the estimated cost is accrued during the employee's service period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
SPECIAL CHARGES, NET (Details) - USD ($) $ in Millions |
3 Months Ended | |||
|---|---|---|---|---|
Apr. 02, 2016 |
Mar. 28, 2015 |
|||
| Special Charges, Net | ||||
| Special charges, net | $ 0.3 | $ 2.8 | ||
| Expected charges to be incurred | 3.5 | |||
| Restructuring liabilities | ||||
| Balance at beginning of year | 11.3 | 5.1 | ||
| Special charges | [1] | 0.3 | 2.5 | |
| Utilization — cash | (3.3) | (1.2) | ||
| Currency translation adjustment and other | 0.1 | (0.1) | ||
| Balance at end of period | 8.4 | 6.3 | ||
| Non-cash special charges | 0.3 | |||
| HVAC segment | ||||
| Special Charges, Net | ||||
| Special charges, net | 0.0 | 1.4 | ||
| Detection and Measurement segment | ||||
| Special Charges, Net | ||||
| Special charges, net | 0.2 | 0.5 | ||
| Power segment | ||||
| Special Charges, Net | ||||
| Special charges, net | $ 0.1 | $ 0.9 | ||
| ||||
| X | ||||||||||
- Definition Amount of cash paid in the period to fully or partially settle a specified, previously accrued type of restructuring or integration cost. No definition available.
|
| X | ||||||||||
- Definition Carrying amount (including both current and noncurrent portions of the accrual) as of the balance sheet date pertaining to a specified type of cost associated with exit from or disposal of business activities or restructuring pursuant to a duly authorized plan. Also includes integration reserves. No definition available.
|
| X | ||||||||||
- Definition Reserve increase representing the amount charged against earnings in the period for a specified incurred and estimated type of cost associated with exit from or disposal of business activities or restructuring pursuant to a duly authorized plan. Also includes the amount charged against earnings in the period for integration expenses. No definition available.
|
| X | ||||||||||
- Definition The amount of change in the restructuring and integration reserves related to foreign currency translation adjustments and any other adjustments not separately disclosed or provided for elsewhere in the Taxonomy. No definition available.
|
| X | ||||||||||
- Definition Amount charged against earnings in the period for incurred and estimated costs associated with an exit from business activities or restructuring pursuant to a duly authorized plan, excluding asset retirement obligations. Such costs include charges associated with employee terminations, lease terminations, asset impairments, etc. No definition available.
|
| X | ||||||||||
- Definition Amount of non-cash special charges that impact special charges but not restructuring and integration related liabilities. No definition available.
|
| X | ||||||||||
- Definition Amount expected to be recognized in earnings for the specified restructuring cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Details
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| X | ||||||||||
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| X | ||||||||||
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INVENTORIES, NET (Details) - USD ($) $ in Millions |
Apr. 02, 2016 |
Dec. 31, 2015 |
||
|---|---|---|---|---|
| Inventory [Line Items] | ||||
| Finished goods | $ 64.3 | $ 58.4 | ||
| Work in process | 59.3 | 58.2 | ||
| Raw materials and purchased parts | 78.2 | 79.4 | ||
| Total FIFO cost | 201.8 | 196.0 | ||
| Excess of FIFO cost over LIFO inventory value | (12.5) | (12.4) | ||
| Total inventories, net | $ 189.3 | $ 170.7 | ||
| Domestic inventories, valued using the last-in, first-out ("LIFO") method, as a percentage of total inventory | 54.00% | 46.00% | ||
| Assets from Continuing Operations and Disposal Group, Held-for-sale, Not Discontinued Operations | ||||
| Inventory [Line Items] | ||||
| Total inventories, net | [1] | $ 189.3 | $ 183.6 | |
| Disposal Group, Held-for-sale, Not Discontinued Operations | Assets Held For Sale, Current | Dry Cooling Business | ||||
| Inventory [Line Items] | ||||
| Total inventories, net | $ 12.9 | |||
| ||||
| X | ||||||||||
- Definition The amount of FIFO (first in first out) inventory present at the reporting date when inventory is also valued using different valuation methods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Carrying amount, net of valuation reserves and adjustments, as of the balance sheet date of merchandise or goods held by the company that are readily available for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of difference between inventory at lower of LIFO cost or market and inventory at lower of other inventory accounting method cost or market, for example, but not limited to, FIFO or average cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Carrying amount, net of valuation reserves and adjustments, as of the balance sheet date of items purchased for use as components of a finished product or pieces of machinery and equipment plus any items in their natural and unrefined state. This element may be used when the reporting entity combines raw materials and purchased parts into an aggregate amount. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The percentage of LIFO (last in first out) inventory to total inventory as of the balance sheet date if other than 100 percent. No definition available.
|
| X | ||||||||||
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| X | ||||||||||
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GOODWILL AND OTHER INTANGIBLE ASSETS (Details) $ in Millions |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Apr. 02, 2016
USD ($)
| ||||||
| Changes in the carrying amount of goodwill | ||||||
| Gross goodwill, beginning of the period | $ 885.7 | |||||
| Accumulated impairment, balance at the beginning of the period | (532.2) | |||||
| Goodwill, balance at the beginning of the period | 342.8 | |||||
| Gross goodwill related to foreign currency translation and other | 4.0 | |||||
| Accumulated impairments related to foreign currency translation and other | (2.4) | |||||
| Goodwill related to foreign currency translation and other | 1.6 | |||||
| Gross goodwill, end of the period | 853.6 | |||||
| Accumulated impairment, balance at the end of the period | (508.7) | |||||
| Goodwill, balance at the end of the period | 344.9 | |||||
| Assets from Continuing Operations and Disposal Group, Held-for-sale, Not Discontinued Operations | ||||||
| Changes in the carrying amount of goodwill | ||||||
| Goodwill, balance at the beginning of the period | 353.5 | [1] | ||||
| Dry Cooling Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations | ||||||
| Changes in the carrying amount of goodwill | ||||||
| Gross goodwill, Disposition of Business | (36.1) | [2] | ||||
| Disposition of Business, Accumulated impairments | 25.9 | [2] | ||||
| Goodwill, Disposition of Business | (10.2) | [2] | ||||
| Dry Cooling Business | Disposal Group, Held-for-sale, Not Discontinued Operations | Assets Held For Sale, Current | ||||||
| Changes in the carrying amount of goodwill | ||||||
| Goodwill, balance at the beginning of the period | 10.7 | |||||
| HVAC segment | ||||||
| Changes in the carrying amount of goodwill | ||||||
| Gross goodwill, beginning of the period | 261.3 | |||||
| Accumulated impairment, balance at the beginning of the period | (145.2) | |||||
| Goodwill, balance at the beginning of the period | 116.1 | |||||
| Gross goodwill related to foreign currency translation and other | 2.4 | |||||
| Accumulated impairments related to foreign currency translation and other | (1.2) | |||||
| Goodwill related to foreign currency translation and other | 1.2 | |||||
| Gross goodwill, end of the period | 263.7 | |||||
| Accumulated impairment, balance at the end of the period | (146.4) | |||||
| Goodwill, balance at the end of the period | 117.3 | |||||
| Detection and Measurement segment | ||||||
| Changes in the carrying amount of goodwill | ||||||
| Gross goodwill, beginning of the period | 219.1 | |||||
| Accumulated impairment, balance at the beginning of the period | (138.0) | |||||
| Goodwill, balance at the beginning of the period | 81.1 | |||||
| Gross goodwill related to foreign currency translation and other | (0.7) | |||||
| Accumulated impairments related to foreign currency translation and other | 0.6 | |||||
| Goodwill related to foreign currency translation and other | (0.1) | |||||
| Gross goodwill, end of the period | 218.4 | |||||
| Accumulated impairment, balance at the end of the period | (137.4) | |||||
| Goodwill, balance at the end of the period | 81.0 | |||||
| Power segment | ||||||
| Changes in the carrying amount of goodwill | ||||||
| Gross goodwill, beginning of the period | 405.3 | |||||
| Accumulated impairment, balance at the beginning of the period | (249.0) | |||||
| Goodwill, balance at the beginning of the period | 156.3 | [1] | ||||
| Gross goodwill related to foreign currency translation and other | 2.3 | |||||
| Accumulated impairments related to foreign currency translation and other | (1.8) | |||||
| Goodwill related to foreign currency translation and other | 0.5 | |||||
| Gross goodwill, end of the period | 371.5 | |||||
| Accumulated impairment, balance at the end of the period | (224.9) | |||||
| Goodwill, balance at the end of the period | 146.6 | |||||
| Power segment | Dry Cooling Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations | ||||||
| Changes in the carrying amount of goodwill | ||||||
| Gross goodwill, Disposition of Business | (36.1) | [2] | ||||
| Disposition of Business, Accumulated impairments | 25.9 | [2] | ||||
| Goodwill, Disposition of Business | $ (10.2) | [2] | ||||
| ||||||
| X | ||||||||||
- Definition Represents the adjustments, during the period, to the accumulated impairments of Goodwill related to foreign currency translation and other adjustments. No definition available.
|
| X | ||||||||||
- Definition Represents the adjustments, during the period, to the net value of goodwill related to for foreign currency translation and other adjustments. No definition available.
|
| X | ||||||||||
- Definition Goodwill, Written off Related to Sale of Business Unit, Accumulated Impairment Loss No definition available.
|
| X | ||||||||||
- Definition Goodwill, Written off Related to Sale of Business Unit, Gross No definition available.
|
| X | ||||||||||
- Definition Represents the adjustments, during the period, to the gross value of goodwill related to foreign currency translation and other adjustments. No definition available.
|
| X | ||||||||||
- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount before accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of accumulated impairment loss for an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition Amount of divestiture of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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GOODWILL AND OTHER INTANGIBLE ASSETS (Details 2) - USD ($) |
3 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Apr. 02, 2016 |
Mar. 28, 2015 |
Dec. 31, 2015 |
|||||||||
| Intangible assets with determinable lives | |||||||||||
| Gross Carrying Value | $ 64,900,000 | $ 84,900,000 | |||||||||
| Accumulated Amortization | (32,100,000) | [1] | (47,400,000) | ||||||||
| Net Carrying Value | 32,800,000 | 37,500,000 | |||||||||
| Intangible assets with indefinite lives | |||||||||||
| Gross carrying value, Total | [1] | 179,900,000 | |||||||||
| Net Carrying Value, Total | 147,800,000 | [1] | 154,200,000 | ||||||||
| Impairment of intangible assets | 4,000,000 | $ 0 | |||||||||
| Impairment charges | $ 0 | ||||||||||
| SPX Heat Transfer Business | |||||||||||
| Intangible assets with determinable lives | |||||||||||
| Net Carrying Value | 27,900,000 | ||||||||||
| Assets from Continuing Operations and Disposal Group, Held-for-sale, Not Discontinued Operations | |||||||||||
| Intangible assets with determinable lives | |||||||||||
| Accumulated Amortization | [1] | (47,400,000) | |||||||||
| Intangible assets with indefinite lives | |||||||||||
| Gross carrying value, Total | [1] | 209,900,000 | |||||||||
| Net Carrying Value, Total | [1] | 162,500,000 | |||||||||
| HVAC segment | |||||||||||
| Intangible assets with determinable lives | |||||||||||
| Net Carrying Value | 4,600,000 | ||||||||||
| Intangible assets with indefinite lives | |||||||||||
| Trademarks | 89,300,000 | ||||||||||
| Detection and Measurement segment | |||||||||||
| Intangible assets with determinable lives | |||||||||||
| Net Carrying Value | 300,000 | ||||||||||
| Intangible assets with indefinite lives | |||||||||||
| Trademarks | 11,100,000 | ||||||||||
| Power segment | |||||||||||
| Intangible assets with determinable lives | |||||||||||
| Net Carrying Value | 27,900,000 | ||||||||||
| Intangible assets with indefinite lives | |||||||||||
| Trademarks | 14,600,000 | ||||||||||
| Trademarks with indefinite lives | |||||||||||
| Intangible assets with indefinite lives | |||||||||||
| Trademarks | [2],[3] | 115,000,000 | 125,000,000 | ||||||||
| Trademarks with indefinite lives | SPX Heat Transfer Business | |||||||||||
| Intangible assets with indefinite lives | |||||||||||
| Trademarks | 9,500,000 | ||||||||||
| Impairment of intangible assets | 4,000,000 | ||||||||||
| Trademarks with indefinite lives | Assets Held For Sale, Current | Disposal Group, Held-for-sale, Not Discontinued Operations | |||||||||||
| Intangible assets with indefinite lives | |||||||||||
| Trademarks | 5,900,000 | ||||||||||
| Customer relationships | |||||||||||
| Intangible assets with determinable lives | |||||||||||
| Gross Carrying Value | 25,400,000 | 25,400,000 | |||||||||
| Accumulated Amortization | (9,900,000) | (9,500,000) | |||||||||
| Net Carrying Value | 15,500,000 | 15,900,000 | |||||||||
| Technology | |||||||||||
| Intangible assets with determinable lives | |||||||||||
| Gross Carrying Value | [3] | 20,800,000 | 40,700,000 | ||||||||
| Accumulated Amortization | [3] | (9,500,000) | (25,200,000) | ||||||||
| Net Carrying Value | [3] | 11,300,000 | 15,500,000 | ||||||||
| Technology | Assets Held For Sale, Current | Disposal Group, Held-for-sale, Not Discontinued Operations | |||||||||||
| Intangible assets with determinable lives | |||||||||||
| Net Carrying Value | 2,400,000 | ||||||||||
| Patents | |||||||||||
| Intangible assets with determinable lives | |||||||||||
| Gross Carrying Value | 4,600,000 | 4,600,000 | |||||||||
| Accumulated Amortization | (4,600,000) | (4,600,000) | |||||||||
| Net Carrying Value | 0 | 0 | |||||||||
| Other | |||||||||||
| Intangible assets with determinable lives | |||||||||||
| Gross Carrying Value | 14,100,000 | 14,200,000 | |||||||||
| Accumulated Amortization | (8,100,000) | (8,100,000) | |||||||||
| Net Carrying Value | $ 6,000,000 | $ 6,100,000 | |||||||||
| |||||||||||
| X | ||||||||||
- Definition Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Total loss recognized during the period from the impairment of goodwill plus the loss recognized in the period resulting from the impairment of the carrying amount of intangible assets, other than goodwill. No definition available.
|
| X | ||||||||||
- Definition Amount of impairment loss resulting from write-down of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount before accumulated amortization of intangible assets, excluding goodwill. No definition available.
|
| X | ||||||||||
- Definition Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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| X | ||||||||||
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| X | ||||||||||
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| X | ||||||||||
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|
WARRANTY (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Apr. 02, 2016 |
Mar. 28, 2015 |
|
| Analysis of product warranty accrual | ||
| Balance at beginning of year | $ 39.6 | $ 37.5 |
| Provisions | 2.9 | 2.6 |
| Usage | (4.7) | (4.8) |
| Currency translation adjustment | (0.2) | (0.1) |
| Balance at end of period | 37.6 | 35.2 |
| Less: Current portion of warranty | 19.1 | 18.8 |
| Non-current portion of warranty | $ 18.5 | $ 16.4 |
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred through that date and payable for estimated claims under standard and extended warranty protection rights granted to customers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred through that date and payable for estimated claims under standard and extended warranty protection rights granted to customers. For classified balance sheets, represents the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Total Increase or Decrease in the standard and extended product warranty liability due to currency translation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred through that date and due after one year (or beyond the operating cycle if longer) for estimated claims under standard and extended warranty protection rights granted to customers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Represents the aggregate decrease in the liability related to payments to satisfy claims for standard and extended product warranties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Represents the aggregate increase in the liability for accruals related to standard and extended product warranties issued during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Apr. 02, 2016 |
Mar. 28, 2015 |
|
| Domestic Pension Plans | ||
| Net periodic pension/postretirement benefit expense | ||
| Service cost | $ 0.1 | $ 0.9 |
| Interest cost | 3.6 | 4.3 |
| Expected return on plan assets | (3.2) | (4.9) |
| Total net periodic pension benefit (income) expense | 0.5 | 0.3 |
| Foreign Pension Plans | ||
| Net periodic pension/postretirement benefit expense | ||
| Service cost | 0.0 | 0.4 |
| Interest cost | 1.4 | 2.0 |
| Expected return on plan assets | (1.7) | (2.4) |
| Total net periodic pension benefit (income) expense | (0.3) | 0.0 |
| Less: Net periodic pension benefit expense of discontinued operations | 0.0 | 0.7 |
| Net periodic pension benefit income of continuing operations | (0.3) | (0.7) |
| Postretirement Plans | ||
| Net periodic pension/postretirement benefit expense | ||
| Service cost | 0.0 | 0.0 |
| Interest cost | 1.0 | 1.1 |
| Amortization of unrecognized prior service credits | (0.2) | (0.2) |
| Total net periodic pension benefit (income) expense | $ 0.8 | $ 0.9 |
| X | ||||||||||
- Definition Represents the total amount of net periodic benefit cost (income) for defined benefit plans for the period related to discontinued operations. No definition available.
|
| X | ||||||||||
- Definition For continuing operations, the amount of pension and other (such as medical, dental and life insurance) postretirement benefit costs recognized during the period for defined benefit plans (periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain (loss) on assets, prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments). No definition available.
|
| X | ||||||||||
- Definition The amount of the prior service cost or credit recognized in net periodic benefit cost relating to benefit changes attributable to plan participants' prior service pursuant to a plan amendment or a plan initiation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition An amount calculated as a basis for determining the extent of delayed recognition of the effects of changes in the fair value of assets. The expected return on plan assets is determined based on the expected long-term rate of return on plan assets and the market-related value of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The total amount of net periodic benefit cost for defined benefit plans for the period. Periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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| X | ||||||||||
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| X | ||||||||||
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INDEBTEDNESS (Details) - USD ($) $ in Millions |
3 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Apr. 02, 2016 |
Dec. 31, 2015 |
||||||||||
| Debt | |||||||||||
| Balance at the beginning of the period | $ 371.8 | ||||||||||
| Borrowings | 57.5 | ||||||||||
| Repayments | (41.4) | ||||||||||
| Other | [1] | 1.6 | |||||||||
| Balance at the end of the period | 389.5 | ||||||||||
| Less: short-term debt | 38.4 | $ 22.1 | |||||||||
| Less: current maturities of long-term debt | 13.5 | 9.1 | |||||||||
| Total long-term debt | 337.6 | 340.6 | |||||||||
| Debt issuance costs | 1.9 | 2.0 | |||||||||
| Trade receivables financing arrangement | |||||||||||
| Debt | |||||||||||
| Balance at the beginning of the period | [2] | 0.0 | |||||||||
| Borrowings | [2] | 20.0 | |||||||||
| Repayments | [2] | (20.0) | |||||||||
| Other | [1],[2] | 0.0 | |||||||||
| Balance at the end of the period | [2] | 0.0 | |||||||||
| Maximum borrowing capacity | 50.0 | ||||||||||
| Amount of available borrowing capacity | 32.7 | ||||||||||
| Other indebtedness | |||||||||||
| Debt | |||||||||||
| Balance at the beginning of the period | [3] | 23.8 | |||||||||
| Borrowings | [3] | 8.6 | |||||||||
| Repayments | [3] | (2.2) | |||||||||
| Other | [1],[3] | 1.5 | |||||||||
| Balance at the end of the period | [3] | 31.7 | |||||||||
| Purchase card programs | 4.1 | 4.8 | |||||||||
| Capital lease obligations | $ 3.0 | 1.7 | |||||||||
| Term loan | |||||||||||
| Debt | |||||||||||
| Initial principal amount of the term loan to be repaid annually in quarterly installments (as a percent) | 5.00% | ||||||||||
| Revolving loans | Current Revolving SPX Facilities | |||||||||||
| Debt | |||||||||||
| Balance at the beginning of the period | $ 0.0 | ||||||||||
| Borrowings | 28.9 | ||||||||||
| Repayments | (19.2) | ||||||||||
| Other | [1] | 0.0 | |||||||||
| Balance at the end of the period | 9.7 | ||||||||||
| Term loans | Current SPX Term Loan Facilities | |||||||||||
| Debt | |||||||||||
| Balance at the beginning of the period | [4] | 348.0 | |||||||||
| Borrowings | [4] | 0.0 | |||||||||
| Repayments | [4] | 0.0 | |||||||||
| Other | [1],[4] | 0.1 | |||||||||
| Balance at the end of the period | [4] | 348.1 | |||||||||
| Foreign credit instrument facility | Other indebtedness | China | |||||||||||
| Debt | |||||||||||
| Borrowings under line of credit | $ 20.7 | $ 17.3 | |||||||||
| |||||||||||
| X | ||||||||||
- Definition Debt Issuance Costs, Net No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Represents the percentage of the initial principal amount of the term loan to be repaid annually in quarterly installments. No definition available.
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| X | ||||||||||
- Definition Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal through the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Net increase or decrease in the carrying amount of the debt instrument for the period for reasons other than accrued but unpaid interest, additional borrowings, forgiveness and repayments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Represents the aggregate of total long-term debt, including current maturities and short-term debt. No definition available.
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| X | ||||||||||
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of long-term debt and capital lease obligation due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The cash inflow during the period from additional borrowings in aggregate debt. Includes proceeds from short-term and long-term debt. No definition available.
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| X | ||||||||||
- Definition The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. No definition available.
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| X | ||||||||||
- Definition Carrying amount at the balance sheet date of borrowings from a bank, not elsewhere enumerated in the taxonomy, with a maturity within one year (or within one operating cycle if longer) from the date of borrowing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INDEBTEDNESS (Details 2) $ in Millions |
Apr. 02, 2016
USD ($)
|
|---|---|
| Senior credit facility | |
| Credit Facilities | |
| Weighted-average interest rate of senior credit facilities (as a percent) | 2.20% |
| Domestic revolving credit facility | |
| Credit Facilities | |
| Letters of credit issued, amount outstanding | $ 49.5 |
| Foreign credit instrument facility | |
| Credit Facilities | |
| Letters of credit issued, amount outstanding | $ 221.8 |
| X | ||||||||||
- Definition Weighted average interest rate of debt outstanding. No definition available.
|
| X | ||||||||||
- Definition The total amount of the contingent obligation under letters of credit outstanding as of the reporting date. No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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DERIVATIVE FINANCIAL INSTRUMENTS (Details) lb in Millions, $ in Millions |
3 Months Ended | 12 Months Ended |
|---|---|---|
|
Apr. 02, 2016
USD ($)
lb
|
Dec. 31, 2015
USD ($)
lb
|
|
| FX Forward Contracts | ||
| Derivative Financial Instruments | ||
| Aggregate notional amount | $ 58.8 | $ 139.8 |
| Unrealized losses, net of tax, recorded in AOCI | 0.0 | 0.6 |
| Gross assets | 0.7 | 0.1 |
| Gross liabilities | 0.2 | 1.5 |
| FX embedded derivatives | ||
| Derivative Financial Instruments | ||
| Derivative contracts maturities within one year | 6.0 | |
| Derivative contracts maturities within two years | 16.2 | |
| FX embedded derivatives | Derivative contracts not designated as hedging instruments | ||
| Derivative Financial Instruments | ||
| Aggregate notional amount | 22.2 | 120.8 |
| Commodity Contracts | ||
| Derivative Financial Instruments | ||
| Unrealized losses, net of tax, recorded in AOCI | 0.6 | 1.2 |
| Fair value of derivative contract - liability | $ 0.4 | $ 1.7 |
| Commodity Contracts | Derivative contracts designated as hedging instruments | ||
| Derivative Financial Instruments | ||
| Notional amount of commodity contracts (in pounds of copper) | lb | 3.3 | 4.2 |
| X | ||||||||||
- Definition Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Represents the amount of derivative contracts maturing within the next twelve months, following the date of the latest balance sheet presented in the financial statements. No definition available.
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| X | ||||||||||
- Definition Represents the amount of derivative contracts maturing in year two, following the date of the latest balance sheet presented in the financial statements. No definition available.
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| X | ||||||||||
- Definition Accumulated change, net of tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Fair value, before effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets elected not to be offset. Excludes assets not subject to a master netting arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Fair value, before effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities elected not to be offset. Excludes liabilities not subject to a master netting arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Nominal mass used to calculate payments on a derivative instrument. No definition available.
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| X | ||||||||||
- Definition Fair value as of the balance sheet date of all price risk derivative liabilities designated as cash flow hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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SHAREHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Details) - shares shares in Thousands |
3 Months Ended | |
|---|---|---|
Apr. 02, 2016 |
Mar. 28, 2015 |
|
| Income Per Share | ||
| Weighted-average number of common shares used in basic income per share | 41,293 | 40,503 |
| Dilutive securities - Restricted stock shares and restricted stock units | 260 | 0 |
| Weighted-average number of common shares and dilutive securities used in diluted income per share | 41,553 | 40,503 |
| Restricted stock shares/units | ||
| Stock-based Compensation | ||
| Number of options or units that were excluded from the computation of diluted income per share | 1,169 | 839 |
| Stock options | ||
| Stock-based Compensation | ||
| Number of options or units that were excluded from the computation of diluted income per share | 1,085 | 323 |
| X | ||||||||||
- Definition Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SHAREHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Details 2) - USD ($) $ in Millions |
3 Months Ended | ||
|---|---|---|---|
Mar. 02, 2016 |
Apr. 02, 2016 |
Mar. 28, 2015 |
|
| Performance Shares | |||
| Stock-based Compensation | |||
| Period over which the fair value of awards are amortized | 3 years | ||
| Employee Stock Option and Restricted Stock Units | |||
| Stock-based Compensation | |||
| Period over which the fair value of awards are amortized | 3 years | ||
| Long Term Cash Awards | |||
| Stock-based Compensation | |||
| Period over which the fair value of awards are amortized | 3 years | ||
| Restricted stock shares, restricted stock units, and stock options | |||
| Stock-based Compensation | |||
| Compensation expense | $ 2.8 | $ 21.0 | |
| Related tax benefit | $ 1.1 | $ 8.1 | |
| X | ||||||||||
- Definition Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The total recognized tax benefit related to compensation cost for equity-based payment arrangements recognized in income during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SHAREHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Details 3) - Performance Stock Units and Restricted Stock Units $ / shares in Units, shares in Thousands, $ in Millions |
3 Months Ended |
|---|---|
|
Apr. 02, 2016
USD ($)
$ / shares
shares
| |
| Unvested Restricted Stock Shares and Restricted Stock Units | |
| Outstanding at beginning of period (in shares) | shares | 1,869 |
| Granted (in shares) | shares | 541 |
| Vested (in shares) | shares | (498) |
| Forfeited (in shares) | shares | (177) |
| Outstanding at end of period (in shares) | shares | 1,735 |
| Weighted-Average Grant-Date Fair Value Per Share | |
| Outstanding at beginning of period (in dollars per share) | $ / shares | $ 17.63 |
| Granted (in dollars per share) | $ / shares | 14.07 |
| Vested (in dollars per share) | $ / shares | 18.95 |
| Forfeited (in dollars per share) | $ / shares | 15.10 |
| Outstanding at end of period (in dollars per share) | $ / shares | $ 16.40 |
| Unrecognized compensation cost | $ | $ 18.4 |
| Weighted average period for recognition | 2 years 4 months 24 days |
| X | ||||||||||
- Definition Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Unrecognized cost of unvested share-based awards, other than options, awarded to employees as compensation. No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SHAREHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Details 4) - Stock options - USD ($) $ / shares in Units, shares in Thousands, $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 02, 2016 |
Apr. 02, 2016 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
| Number of stock options granted | 505 | |
| Exercise price per share of options granted | $ 12.85 | |
| Maximum contractual term | 10 years | |
| Fair value of option grant | ||
| Fair value per share | $ 4.11 | |
| Annual expected stock price volatility | 30.06% | |
| Annual expected dividend yield | 0.00% | |
| Risk-free interest rate | 1.50% | |
| Expected life of stock option (in years) | 6 years | |
| Period of historical volatility | 6 years | |
| Expected option life | 3 years | |
| Unrecognized compensation cost | $ 4.8 | |
| Weighted average period for recognition | 2 years 8 months 12 days | |
| Minimum | ||
| Fair value of option grant | ||
| Duration of treasury constant maturity rate | 5 years | |
| Maximum | ||
| Fair value of option grant | ||
| Duration of treasury constant maturity rate | 7 years |
| X | ||||||||||
- Definition The historical period upon which annual expected stock price volatility is based. No definition available.
|
| X | ||||||||||
- Definition Represents the daily treasury yield curve period, in years, upon which the average risk-free interest rate is based. No definition available.
|
| X | ||||||||||
- Definition Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Unrecognized cost of unvested options awarded to employees as compensation. No definition available.
|
| X | ||||||||||
- Definition Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Gross number of share options (or share units) granted during the period. No definition available.
|
| X | ||||||||||
- Definition The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options. No definition available.
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| X | ||||||||||
- Definition Period from grant date that an equity-based award expires, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SHAREHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Details 5) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Apr. 02, 2016 |
Mar. 28, 2015 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|||||||||||||||
| Components of accumulated other comprehensive income (loss) | ||||||||||||||||||
| Equity, beginning of period | $ 308.3 | $ 1,811.9 | $ 1,811.9 | |||||||||||||||
| Equity, end of period | 285.3 | 1,678.5 | 308.3 | $ 1,811.9 | ||||||||||||||
| Pension and postretirement liability adjustment and other, tax (provision) benefit | 0.0 | 0.0 | ||||||||||||||||
| Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||
| Components of accumulated other comprehensive income (loss) | ||||||||||||||||||
| Equity, beginning of period | 283.3 | 62.6 | 62.6 | |||||||||||||||
| Other comprehensive income (loss) before reclassifications | 1.5 | (131.0) | ||||||||||||||||
| Amounts reclassified from accumulated other comprehensive income (loss) | (39.2) | [1] | 0.4 | |||||||||||||||
| Current-period other comprehensive income (loss) | (37.7) | (130.6) | ||||||||||||||||
| Equity, end of period | 245.6 | (68.0) | 283.3 | 62.6 | ||||||||||||||
| Foreign Currency Translation Adjustment | ||||||||||||||||||
| Components of accumulated other comprehensive income (loss) | ||||||||||||||||||
| Equity, beginning of period | 280.6 | 59.0 | 59.0 | |||||||||||||||
| Other comprehensive income (loss) before reclassifications | 1.7 | (131.1) | ||||||||||||||||
| Amounts reclassified from accumulated other comprehensive income (loss) | (40.4) | [1] | 0.0 | |||||||||||||||
| Current-period other comprehensive income (loss) | (38.7) | (131.1) | ||||||||||||||||
| Equity, end of period | 241.9 | (72.1) | 280.6 | 59.0 | ||||||||||||||
| Foreign Currency Translation Adjustment | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Dry Cooling Business | Gain on Sale of Dry Cooling Business | ||||||||||||||||||
| Components of accumulated other comprehensive income (loss) | ||||||||||||||||||
| Amounts reclassified from accumulated other comprehensive income (loss) | [2] | (40.4) | ||||||||||||||||
| Net Unrealized Gains (Losses) on Qualifying Cash Flow Hedges | ||||||||||||||||||
| Components of accumulated other comprehensive income (loss) | ||||||||||||||||||
| Equity, beginning of period | (1.8) | [2] | (1.3) | [3] | (1.3) | [3] | ||||||||||||
| Other comprehensive income (loss) before reclassifications | (0.2) | [2] | 0.1 | [3] | ||||||||||||||
| Amounts reclassified from accumulated other comprehensive income (loss) | 1.4 | [1],[2] | 0.6 | [3] | ||||||||||||||
| Current-period other comprehensive income (loss) | 1.2 | [2] | 0.7 | [3] | ||||||||||||||
| Equity, end of period | (0.6) | [2] | (0.6) | [3] | (1.8) | [2] | (1.3) | [3] | ||||||||||
| Net unrealized gains (losses) on qualifying cash flow hedges, tax | 0.4 | 0.5 | 0.8 | 1.1 | ||||||||||||||
| Pension and Postretirement Liability Adjustment | ||||||||||||||||||
| Components of accumulated other comprehensive income (loss) | ||||||||||||||||||
| Equity, beginning of period | 4.5 | [4] | 4.9 | [5] | 4.9 | [5] | ||||||||||||
| Other comprehensive income (loss) before reclassifications | 0.0 | [4] | 0.0 | [5] | ||||||||||||||
| Amounts reclassified from accumulated other comprehensive income (loss) | (0.2) | [1],[4] | (0.2) | [5] | ||||||||||||||
| Current-period other comprehensive income (loss) | (0.2) | [4] | (0.2) | [5] | ||||||||||||||
| Equity, end of period | $ 4.3 | [4] | 4.7 | [5] | 4.5 | [4] | 4.9 | [5] | ||||||||||
| Pension and postretirement liability adjustment and other, tax (provision) benefit | $ 3.0 | $ (3.1) | $ 3.0 | |||||||||||||||
| ||||||||||||||||||
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition Amount after tax, before reclassification adjustments of other comprehensive income (loss). No definition available.
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| X | ||||||||||
- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of tax (expense) benefit, after reclassification adjustments, of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of tax expense (benefit), before reclassification adjustments, related to increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after tax of reclassification adjustments of other comprehensive income (loss). No definition available.
|
| X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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SHAREHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Details 6) - USD ($) $ in Millions |
3 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Apr. 02, 2016 |
Mar. 28, 2015 |
|||||||||||
| Amounts reclassified from each component of accumulated comprehensive income | ||||||||||||
| Revenues | [1] | $ 389.3 | $ 376.3 | |||||||||
| Cost of products sold | 299.5 | 301.8 | ||||||||||
| Income (loss) from continuing operations before income taxes | 18.2 | (54.3) | ||||||||||
| Income taxes | (3.5) | 13.3 | ||||||||||
| Net income (loss) | 13.6 | (10.0) | ||||||||||
| Gain on sale of dry cooling business | (17.9) | 0.0 | ||||||||||
| Disposal Group, Disposed of by Sale, Not Discontinued Operations | Dry Cooling Business | ||||||||||||
| Amounts reclassified from each component of accumulated comprehensive income | ||||||||||||
| Gain on sale of dry cooling business | (17.9) | |||||||||||
| Net Unrealized Gains (Losses) on Qualifying Cash Flow Hedges | ||||||||||||
| Amounts reclassified from each component of accumulated comprehensive income | ||||||||||||
| Gains on pension and postretirement items, net of tax | 1.4 | [2],[3] | 0.6 | [4] | ||||||||
| Net Unrealized Gains (Losses) on Qualifying Cash Flow Hedges | Amount Reclassified from AOCI | ||||||||||||
| Amounts reclassified from each component of accumulated comprehensive income | ||||||||||||
| Income (loss) from continuing operations before income taxes | 1.7 | 0.7 | ||||||||||
| Income taxes | (0.3) | (0.1) | ||||||||||
| Net income (loss) | 1.4 | 0.6 | ||||||||||
| Net Unrealized Gains (Losses) on Qualifying Cash Flow Hedges | FX Forward Contracts | Amount Reclassified from AOCI | ||||||||||||
| Amounts reclassified from each component of accumulated comprehensive income | ||||||||||||
| Revenues | 1.0 | 0.0 | ||||||||||
| Net Unrealized Gains (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 | 0.7 | ||||||||||
| Pension and Postretirement Liability Adjustment | ||||||||||||
| Amounts reclassified from each component of accumulated comprehensive income | ||||||||||||
| Amortization of unrecognized prior service credits, pre-tax | (0.2) | (0.2) | ||||||||||
| Income taxes | 0.0 | 0.0 | ||||||||||
| Gains on pension and postretirement items, net of tax | (0.2) | (0.2) | ||||||||||
| Foreign Currency Translation Adjustment | ||||||||||||
| Amounts reclassified from each component of accumulated comprehensive income | ||||||||||||
| Gains on pension and postretirement items, net of tax | (40.4) | [2] | 0.0 | |||||||||
| Foreign Currency Translation Adjustment | FX Forward Contracts | Amount Reclassified from AOCI | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Dry Cooling Business | ||||||||||||
| Amounts reclassified from each component of accumulated comprehensive income | ||||||||||||
| Gain on sale of dry cooling business | $ (40.4) | $ 0.0 | ||||||||||
| ||||||||||||
| X | ||||||||||
- Definition Reclassification from AOCI, Current Period, Tax No definition available.
|
| X | ||||||||||
- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Gain (loss) from sale or disposal of an organization or integrated set of activities (for example, but not limited to, a partnership or corporation) engaged in providing a product or service in a commercial, industrial, or professional environment. No definition available.
|
| X | ||||||||||
- Definition This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount before tax of reclassification adjustments of other comprehensive income (loss). No definition available.
|
| X | ||||||||||
- Definition Amount after tax of reclassification adjustments of other comprehensive income (loss). No definition available.
|
| X | ||||||||||
- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
SHAREHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Details 7) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Apr. 02, 2016 |
Mar. 28, 2015 |
|
| Dividends | ||
| Dividends declared | $ 0.0 | $ 15.4 |
| Dividends paid | 15.1 | |
| Common Stock In Treasury | ||
| Common Stock in Treasury | ||
| Decrease in stock by the settlement of restricted stock units | 17.8 | 5.6 |
| Increase in the stock for common stock surrendered by recipients of restricted stock as a means of funding minimum income tax withholding | $ 0.0 | $ 1.2 |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of adjustment to stockholders' equity associated with an employee's income tax withholding obligation as part of a net-share settlement of a share-based award. No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of paid and unpaid common stock dividends declared with the form of settlement in cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Value of stock (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of stock value of such awards forfeited. Stock issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
SHAREHOLDERS' EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Details 8) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |
|---|---|---|---|
Apr. 02, 2016 |
Mar. 28, 2015 |
Dec. 31, 2015 |
|
| Changes in Equity | |||
| Equity, beginning of period | $ 308.3 | $ 1,811.9 | $ 1,811.9 |
| Net income (loss) | 13.6 | (10.0) | |
| Net unrealized gains on qualifying cash flow hedges, net of tax provision of $0.4 and $0.6 for the three months ended April 2, 2016 and March 28, 2015, respectively | 1.2 | 0.7 | |
| Net unrealized gains (losses) on qualifying cash flow hedges, tax provision | 0.4 | 0.6 | |
| Pension and postretirement liability adjustment, net of tax benefit of $0.0 for the three months ended April 2, 2016 and March 28, 2015 | (0.2) | (0.2) | |
| Pension and postretirement liability adjustment and other, tax (provision) benefit | 0.0 | 0.0 | |
| Foreign currency translation adjustments | (39.7) | (131.0) | |
| Total comprehensive loss, net | (25.1) | (140.5) | |
| Dividends declared | 0.0 | (15.4) | |
| Incentive plan activity | 2.7 | 4.9 | |
| Stock-based long-term incentive compensation expense (includes amounts recorded to discontinued operations of $2.6 for the three months ended March 28, 2015) | 2.7 | 23.6 | |
| Restricted stock and restricted stock unit vesting, net of tax withholdings, and related tax benefit of $0.0 and $0.4 for the three months ended April 2, 2016 and March 28, 2015, respectively | (3.3) | (5.5) | |
| Restricted stock and restricted stock unit vesting, net of tax withholdings, tax (provision) benefit | 0.0 | 0.4 | |
| Other changes in noncontrolling interests | 0.0 | (0.5) | |
| Equity, end of period | 285.3 | 1,678.5 | 308.3 |
| Discontinued operations | |||
| Changes in Equity | |||
| Stock-based long-term incentive compensation expense (includes amounts recorded to discontinued operations of $2.6 for the three months ended March 28, 2015) | 2.6 | ||
| SPX Corporation Shareholders' Equity | |||
| Changes in Equity | |||
| Equity, beginning of period | 345.4 | 1,808.7 | 1,808.7 |
| Net income (loss) | 13.0 | (7.1) | |
| Net unrealized gains on qualifying cash flow hedges, net of tax provision of $0.4 and $0.6 for the three months ended April 2, 2016 and March 28, 2015, respectively | 1.2 | 0.7 | |
| Pension and postretirement liability adjustment, net of tax benefit of $0.0 for the three months ended April 2, 2016 and March 28, 2015 | (0.2) | (0.2) | |
| Foreign currency translation adjustments | (38.7) | (131.1) | |
| Total comprehensive loss, net | (24.7) | (137.7) | |
| Dividends declared | 0.0 | (15.4) | |
| Incentive plan activity | 2.7 | 4.9 | |
| Stock-based long-term incentive compensation expense (includes amounts recorded to discontinued operations of $2.6 for the three months ended March 28, 2015) | 2.7 | 23.6 | |
| Restricted stock and restricted stock unit vesting, net of tax withholdings, and related tax benefit of $0.0 and $0.4 for the three months ended April 2, 2016 and March 28, 2015, respectively | (3.3) | (5.5) | |
| Equity, end of period | 322.8 | 1,678.6 | 345.4 |
| Noncontrolling Interests | |||
| Changes in Equity | |||
| Equity, beginning of period | (37.1) | 3.2 | 3.2 |
| Net income (loss) | 0.6 | (2.9) | |
| Foreign currency translation adjustments | (1.0) | 0.1 | |
| Total comprehensive loss, net | (0.4) | (2.8) | |
| Other changes in noncontrolling interests | 0.0 | (0.5) | |
| Equity, end of period | $ (37.5) | $ (0.1) | $ (37.1) |
| X | ||||||||||
- Definition Net effect of other changes in noncontrolling interest balance. No definition available.
|
| X | ||||||||||
- Definition Value of stock issued as a result of the exercise of restricted stock , after deduction of related income tax (expense) benefit. No definition available.
|
| X | ||||||||||
- Definition Value of stock issued during the period as a result of the exercise of stock options and value of stock issued through a defined contribution plan, net of any related income tax benefit or expense recognized by the entity. No definition available.
|
| X | ||||||||||
- Definition This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of paid and unpaid common stock dividends declared with the form of settlement in cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition Amount after tax and reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of tax expense (benefit), after reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after tax and reclassification adjustments, of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of tax (expense) benefit, after reclassification adjustments, of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The value of restricted shares issued as compensation, net of the value of shares for the payment of withholding taxes. This element is to be used only if shares are used in lieu of cash to satisfy all or a portion of withholding taxes. No definition available.
|
| X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
CONTINGENT LIABILITIES AND OTHER MATTERS (Details) $ in Millions |
3 Months Ended | ||
|---|---|---|---|
|
Apr. 02, 2016
USD ($)
corporate_entity
|
Mar. 28, 2015
USD ($)
|
Dec. 31, 2015
USD ($)
|
|
| Contingent Liabilities and Other Matters | |||
| Carrying values of accruals | $ 589.5 | $ 591.1 | |
| Liability for asbestos product liability matters | 534.1 | 534.4 | |
| Payments for asbestos-related matters, net of insurance recoveries | $ 1.3 | $ 1.5 | |
| Asbestos Issue | Minimum | |||
| Contingent Liabilities and Other Matters | |||
| Number of defendants | corporate_entity | 50 | ||
| Other Long Term Liabilities | |||
| Contingent Liabilities and Other Matters | |||
| Accruals included in other long-term liabilities | $ 550.9 | 552.8 | |
| Other assets | Asbestos Issue | |||
| Contingent Liabilities and Other Matters | |||
| Insurance recovery assets | $ 493.3 | $ 493.3 | |
| X | ||||||||||
- Definition Carrying amount as of the balance sheet date of reserves for the costs of settling insured claims and costs incurred in the claims settlement process attributable to asbestos and environmental claims, before estimated recoveries from reinsurers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of asbestos claims paid in the current period, net of reinsurance recoveries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount of loss contingency liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of loss contingency liability expected to be resolved after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Number of defendants named in a legal action. No definition available.
|
| X | ||||||||||
- Definition Amount of receivable related to a loss contingency accrual that is expected to be collected after one year or beyond the normal operating cycle, if longer. For example, an insurance recovery receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
CONTINGENT LIABILITIES AND OTHER MATTERS (Details 2) $ in Millions |
Apr. 02, 2016
USD ($)
|
|---|---|
| Large Power Projects | South Africa | |
| Contingent Liabilities and Other Matters | |
| Revenue recognized | $ 26.0 |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition The amount of costs incurred on unapproved change orders when it is probable that the cost will be recovered through a change in the contract price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
CONTINGENT LIABILITIES AND OTHER MATTERS (Details 3) - Site investigation and remediation - site |
Apr. 02, 2016 |
Dec. 31, 2015 |
|---|---|---|
| Environmental Matters | ||
| Number of sites | 35 | 35 |
| Number of third-party disposal sites for which entity is potentially responsible | 24 | |
| Number of active sites | 7 |
| X | ||||||||||
- Definition Represents the number of offsite, third-party disposal sites which have been active in the past few years. No definition available.
|
| X | ||||||||||
- Definition Represents the number of sites which have liabilities for site investigation and remediation. No definition available.
|
| X | ||||||||||
- Definition Represents the number of offsite, third-party disposal sites for which the entity is potentially responsible and have received notices of potential liability pursuant to various environmental laws. No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
CONTINGENT LIABILITIES AND OTHER MATTERS (Details 4) - Consortium arrangements - Thermal Equipment and Services reportable segment - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended |
|---|---|---|
Apr. 02, 2016 |
Dec. 31, 2015 |
|
| Collaborative Arrangements | ||
| Entity's share of the aggregate contract value on open consortium arrangements | $ 102.9 | $ 100.2 |
| Percentage of entity's share of the aggregate contract value, recognized as revenue | 71.00% | 68.00% |
| Aggregate contract value on open consortium arrangements | $ 382.0 | $ 371.7 |
| Estimated fair value of potential obligation recorded as a liabilities | $ 0.7 | $ 0.6 |
| X | ||||||||||
- Definition Represents the aggregate contract value on open consortium arrangements. No definition available.
|
| X | ||||||||||
- Definition Represents the entity's share of aggregate contract value on open consortium arrangements. No definition available.
|
| X | ||||||||||
- Definition Represents the estimated fair value of potential obligation under the joint and several liability provisions associated with consortium arrangements, recorded as a liability. No definition available.
|
| X | ||||||||||
- Definition Represents the percentage of entity's share of aggregate contract value which had been recognized as revenue. No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
INCOME TAXES (Details) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Apr. 02, 2016 |
Mar. 28, 2015 |
|
| Uncertain Tax Benefits | ||
| Gross unrecognized tax benefits | $ 44.7 | |
| Net unrecognized tax benefits | 25.9 | |
| Gross accrued interest | 3.0 | |
| Net accrued interest | 2.0 | |
| Penalties recorded | 0.0 | |
| Reasonably possible amount that unrecognized tax benefits could decrease within next 12 months, low end of range | 6.0 | |
| Reasonably possible amount that unrecognized tax benefits could decrease within next 12 months, high end of range | 10.0 | |
| Other Tax Matters | ||
| Income tax (provision) benefit | (3.5) | $ 13.3 |
| Pre-tax income (loss) from continuing operations | $ 18.2 | $ (54.3) |
| Effective income tax rate (as a percent) | 19.20% | 24.50% |
| Gain on sale of dry cooling business | $ 17.9 | $ 0.0 |
| Foreign | ||
| Other Tax Matters | ||
| Foreign losses generated for which no tax benefit was recognized | 4.7 | 9.6 |
| Income tax expense (benefit) related to reorganization actions to facilitate separation | $ 3.4 | |
| Disposal Group, Disposed of by Sale, Not Discontinued Operations | Dry Cooling Business | ||
| Other Tax Matters | ||
| Taxes provided in connection with sale of dry cooling business | 0.7 | |
| Gain on sale of dry cooling business | $ 17.9 | |
| X | ||||||||||
- Definition Effective Income Tax Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Foreign Operating Loss Carryforwards No definition available.
|
| X | ||||||||||
- Definition Represents the income tax expense (benefit) related to reorganization actions to facilitate business separation. No definition available.
|
| X | ||||||||||
- Definition Represents the net (net of applicable income tax effect) amount of interest expense accrued as of the date of statement of financial position for underpayment of income taxes, computed by applying the applicable statutory rate of interest to the difference between a tax position recognized for financial reporting purposes and the amount previously taken or expected to be taken in a tax return of the entity. No definition available.
|
| X | ||||||||||
- Definition The net amount of unrecognized tax benefits pertaining to uncertain tax positions taken in tax returns as of the balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Gain (loss) from sale or disposal of an organization or integrated set of activities (for example, but not limited to, a partnership or corporation) engaged in providing a product or service in a commercial, industrial, or professional environment. No definition available.
|
| X | ||||||||||
- Definition This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to the disposition of a business not qualifying as a discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of (increase) decrease reasonably possible in the estimated lower bound of the unrecognized tax benefit for a tax position taken or expected to be taken. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of (increase) decrease reasonably possible in the estimated upper bound of the unrecognized tax benefit for a tax position taken or expected to be taken. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of unrecognized tax benefits pertaining to uncertain tax positions taken in tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of expense for penalties related to a tax position claimed or expected to be claimed in the tax return. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of interest expense accrued for an underpayment of income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|