^[1]

$ 1,472.3

$ 1,559.0

$ 1,694.4

Costs and expenses:

Cost of products sold

1,096.5

1,283.1

1,328.0

Impairment of intangible and other long-term assets

301.0

387.8

511.2

Intangible amortization

2.8

5.2

5.7

30.1

0.0

28.9

5.3

5.1

5.9

18.4

0.0

Other income (expense), net

55.0

(122.2)

(185.3)

(0.3)

(10.0)

490.0

Interest expense

(14.8)

(22.0)

(23.6)

Interest income

0.8

1.3

3.5

Loss on early extinguishment of debt

(1.3)

(1.4)

(32.5)

Income (loss) from continuing operations before income taxes

39.4

(154.3)

252.1

Income tax (provision) benefit

(9.1)

2.7

(137.5)

Income (loss) from discontinued operations, net of tax

30.3

(151.6)

114.6

(16.6)

39.8

256.0

Gain (loss) on disposition of discontinued operations, net of tax

(81.3)

(5.2)

13.3

Income (loss) from discontinued operations, net of tax

(97.9)

34.6

^[2]

269.3

Net income (loss)

(67.6)

(117.0)

383.9

Less: Net loss attributable to noncontrolling interests

(0.4)

(34.3)

(9.5)

Net income (loss) attributable to SPX Corporation common shareholders

(67.2)

(82.7)

393.4

(18.1)

0.0

Net income (loss) attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest

(85.3)

(82.7)

393.4

Amounts attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest:

Income (loss) from continuing operations, net of tax

12.6

(118.2)

126.3

Income (loss) from discontinued operations, net of tax

(97.9)

35.5

267.1

Net income (loss) attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest

$ (85.3)

$ (82.7)

$ 393.4

Basic income (loss) per share of common stock:

Income (loss) from continuing operations attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest (in dollars per share)

$ 0.30

$ (2.90)

$ 2.98

Income (loss) from discontinued operations attributable to SPX Corporation common shareholders (in dollars per share)

(2.35)

0.87

6.30

Net income (loss) per share attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest (in dollars per share)

$ (2.05)

$ (2.03)

$ 9.28

Weighted-average number of common shares outstanding — basic (in shares)

41,610

40,733

42,400

Diluted income (loss) per share of common stock:

Income (loss) from continuing operations attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest (in dollars per share)

$ 0.30

$ (2.90)

$ 2.94

Income (loss) from discontinued operations attributable to SPX Corporation common shareholders (in dollars per share)

(2.32)

0.87

6.20

Net income (loss) per share attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest (in dollars per share)

$ (2.02)

$ (2.03)

$ 9.14

Weighted-average number of common shares outstanding — diluted (in shares)

42,161

40,733

43,031

[1]	Revenues are included in the above geographic areas based on the country that recorded the customer revenue.
[2]	For SPX FLOW, represents financial results through the date of Spin-Off (i.e., the nine months ended September 26, 2015), except for a revision to increase the income tax provision by $1.4 that was recorded during the fourth quarter of 2015.

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (67.6)	$ (117.0)	$ 383.9
Other comprehensive income (loss), net:
Pension liability adjustment, net of tax (provision) benefit of $0.4, $(0.1), and $(5.2) in 2016, 2015 and 2014, respectively	(0.6)	(0.4)	9.7
Net unrealized gains (losses) on qualifying cash flow hedges, net of tax (provision) benefit of $(1.7), $(0.3) and $0.1 in 2016, 2015 and 2014, respectively	3.3	(0.6)	(0.5)
Net unrealized gains on available-for-sale securities	0.0	0.0	3.7
Foreign currency translation adjustments	(50.9)	(132.9)	(237.8)
Other comprehensive loss, net	(48.2)	(133.9)	(224.9)
Total comprehensive income (loss)	(115.8)	(250.9)	159.0
Less: Total comprehensive loss attributable to noncontrolling interests	(0.4)	(34.3)	(9.5)
Total comprehensive income (loss) attributable to SPX Corporation common shareholders	$ (115.4)	$ (216.6)	$ 168.5

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Pension liability adjustment, tax (provision) benefit	$ 0.4	$ (0.1)	$ (5.2)
Net unrealized gains (losses) on qualifying cash flow hedges, tax (provision) benefit	$ (1.7)	$ (0.3)	$ 0.1

Consolidated Balance Sheets - USD ($)
$ in Millions

Dec. 31, 2016

Dec. 31, 2015

Current assets:

Cash and equivalents

$ 99.6

$ 97.2

Accounts receivable, net

251.7

305.1

Inventories, net

145.7

^[1]

161.3

Other current assets

30.6

27.4

Assets held for sale

0.0

107.1

Assets of discontinued operations

0.0

84.2

Total current assets

527.6

782.3

Property, plant and equipment:

Land

15.4

15.3

Buildings and leasehold improvements

117.3

113.0

Machinery and equipment

329.8

328.8

Property, plant and equipment, gross

462.5

457.1

Accumulated depreciation

(267.0)

(251.8)

Property, plant and equipment, net

195.5

205.3

Goodwill

340.4

^[2]

342.8

Intangibles, net

117.9

^[3]

154.2

Assets of discontinued operations

680.5

627.6

Deferred income taxes

50.6

31.3

0.0

35.8

TOTAL ASSETS

1,912.5

2,179.3

Current liabilities:

Accounts payable

137.6

157.0

Current maturities of long-term debt

304.3

^[4]

349.8

Income taxes payable

1.7

1.6

Short-term debt

14.8

22.1

17.9

9.1

Liabilities held for sale

0.0

41.3

Liabilities of discontinued operations

0.0

73.9

Total current liabilities

476.3

654.8

Long-term debt

323.5

340.6

Deferred and other income taxes

42.4

39.7

Liabilities of discontinued operations

878.7

811.9

0.0

24.0

Total long-term liabilities

1,244.6

1,216.2

Commitments and contingent liabilities (Note 13)

SPX Corporation shareholders’ equity:

Common stock (50,754,779 and 41,940,089 issued and outstanding at December 31, 2016, respectively, and 100,525,876 and 41,415,909 issued and outstanding at December 31, 2015, respectively)

0.5

1.0

Paid-in capital

1,307.9

2,649.6

Retained earnings (deficit)

(831.6)

897.8

Accumulated other comprehensive income

235.1

283.3

Common stock in treasury (8,814,690 and 59,109,967 shares at December 31, 2016 and 2015, respectively)

(520.3)

(3,486.3)

Total SPX Corporation shareholders’ equity

191.6

345.4

Noncontrolling interests

0.0

(37.1)

Total equity

191.6

308.3

TOTAL LIABILITIES AND EQUITY

$ 1,912.5

$ 2,179.3

[1]	The balance at December 31, 2015 includes $12.9 related to our dry cooling business. As previously noted, the assets and liabilities of the dry cooling business have been classified as “held for sale” in the accompanying consolidated balance sheet as of December 31, 2015. See Note 4 for information on the assets and liabilities of the dry cooling business as of December 31, 2015.
[2]	The balance at December 31, 2015 includes $10.7 related to our dry cooling business. As previously noted, the assets and liabilities of the dry cooling business have been classified as “held for sale” in the accompanying consolidated balance sheet as of December 31, 2015. See Note 4 for information on the assets and liabilities of the dry cooling business as of December 31, 2015.
[3]	Changes in the gross carrying value of “Other Intangibles, Net” during the year ended December 31, 2016 related to the sale of our dry cooling business, the impairment charges related to the Heat Transfer intangibles noted above, and, to a lesser extent, foreign currency translation.
[4]	The balance at December 31, 2015 includes $25.3 related to our dry cooling business. As indicated in Note 1, on November 20, 2015, we entered into an agreement to sell the dry cooling business. As a result, the assets and liabilities of the dry cooling business have been classified as “held for sale” in the accompanying consolidated balance sheet as of December 31, 2015. See Note 4 for information on the assets and liabilities of the dry cooling business as of December 31, 2015.

Consolidated Balance Sheets (Parenthetical) - shares	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, shares issued	50,754,779	100,525,876
Common stock, shares outstanding	41,940,089	41,415,909
Common stock, in treasury, shares	8,814,690	59,109,967

Consolidated Statements of Equity - USD ($) $ in Millions	Total	SPX Corporation Shareholders’ Equity	Common Stock	Paid-In Capital	Retained Earnings (Deficit)	Accum. Other Comprehensive Income	Common Stock In Treasury	Noncontrolling Interests
Balance at Dec. 31, 2013	$ 2,167.3	$ 2,153.3	$ 1.0	$ 2,575.0	$ 2,298.4	$ 287.5	$ (3,008.6)	$ 14.0
Increase (Decrease) in Stockholders' Equity
Net income (loss)	383.9	393.4			393.4			(9.5)
Other comprehensive loss, net	(224.9)	(224.9)				(224.9)
Dividends declared ($0.75 and $1.50 for the years 2015 and 2014, respectively)	(63.2)	(63.2)			(63.2)
Exercise of stock options and other incentive plan activity	16.4	16.4		16.4
Long-term incentive compensation expense, including $6.0 and $5.7 related to discontinued operations for the years ended 2015 and 2014, respectively	38.4	38.4		38.4
Restricted stock and restricted stock unit vesting, including related tax (provision) benefit of $2.2, $0.7, and $6.7 for 2016, 2015, and 2014, respectively, net of tax withholdings	(15.9)	(15.9)		(21.8)			5.9
Common stock repurchases	(488.8)	(488.8)					(488.8)
Other changes in noncontrolling interests	(1.3)	0.0		0.0				(1.3)
Balance at Dec. 31, 2014	1,811.9	1,808.7	1.0	2,608.0	2,628.6	62.6	(3,491.5)	3.2
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(117.0)	(82.7)			(82.7)			(34.3)
Other comprehensive loss, net	(133.9)	(133.9)				(133.9)
Dividends declared ($0.75 and $1.50 for the years 2015 and 2014, respectively)	(30.9)	(30.9)			(30.9)
Exercise of stock options and other incentive plan activity	14.7	14.7		14.7
Long-term incentive compensation expense, including $6.0 and $5.7 related to discontinued operations for the years ended 2015 and 2014, respectively	39.9	39.9		39.9
Restricted stock and restricted stock unit vesting, including related tax (provision) benefit of $2.2, $0.7, and $6.7 for 2016, 2015, and 2014, respectively, net of tax withholdings	(7.8)	(7.8)		(13.0)			5.2
Spin-Off of FLOW Business	(1,273.9)	(1,262.6)			(1,617.2)	354.6		(11.3)
Other changes in noncontrolling interests	5.3	0.0		0.0				5.3
Balance at Dec. 31, 2015	308.3	345.4	1.0	2,649.6	897.8	283.3	(3,486.3)	(37.1)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(67.6)	(67.2)			(67.2)			(0.4)
Other comprehensive loss, net	(48.2)	(48.2)				(48.2)		0.0
Exercise of stock options and other incentive plan activity	8.8	8.8		8.8
Long-term incentive compensation expense, including $6.0 and $5.7 related to discontinued operations for the years ended 2015 and 2014, respectively	12.7	12.7		12.7
Restricted stock and restricted stock unit vesting, including related tax (provision) benefit of $2.2, $0.7, and $6.7 for 2016, 2015, and 2014, respectively, net of tax withholdings	(3.9)	(3.9)		(21.8)			17.9
Treasury share retirement	0.0	0.0	(0.5)	(1,285.4)	(1,662.2)		2,948.1
Adjustment related to redeemable noncontrolling interest (Note 13)	(17.3)	(56.0)		(56.0)				38.7
Other changes in noncontrolling interests	(1.2)	0.0						(1.2)
Balance at Dec. 31, 2016	$ 191.6	$ 191.6	$ 0.5	$ 1,307.9	$ (831.6)	$ 235.1	$ (520.3)	$ 0.0

Consolidated Statements of Equity (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (in dollars per share)		$ 0.75	$ 1.5
Stock-based compensation expense, discontinued operations		$ 6.0	$ 5.7
Restricted stock and restricted stock unit vesting, related tax benefit	$ 2.2	$ 0.7	$ 6.7

Consolidated Statements of Cash Flows
$ in Millions

12 Months Ended

Dec. 31, 2016

USD ($)

Dec. 31, 2015

USD ($)

Dec. 31, 2014

USD ($)

Cash flows from (used in) operating activities:

Net income (loss)

$ (67.6)

$ (117.0)

$ 383.9

Less: Income (loss) from discontinued operations, net of tax

(97.9)

34.6

^[1]

269.3

Adjustments to reconcile income (loss) from continuing operations to net cash from (used in) operating activities

30.3

(151.6)

114.6

5.3

5.1

5.9

Gain on asset sales

(0.9)

(1.2)

(491.2)

Impairment of intangible and other long-term assets

(18.4)

0.0

30.1

0.0

28.9

Loss on early extinguishment of debt

1.3

1.4

32.5

Deferred and other income taxes

0.0

4.9

(79.1)

Depreciation and amortization

26.5

37.0

40.6

Pension and other employee benefits

24.8

35.2

122.9

Long-term incentive compensation

13.7

33.9

32.7

Other, net

3.2

3.8

2.4

Changes in operating assets and liabilities, net of effects from acquisition and divestitures

Accounts receivable and other assets

(28.7)

(6.9)

50.7

Inventories

8.5

(21.2)

(10.9)

Accounts payable, accrued expenses and other

(40.2)

(11.3)

(171.6)

Cash spending on restructuring actions

(2.1)

(5.1)

(4.5)

Net cash from (used in) continuing operations

53.4

(76.0)

(326.1)

Net cash from (used in) discontinued operations

(46.9)

37.5

402.5

Net cash from (used in) operating activities

6.5

(38.5)

76.4

Cash flows from (used in) investing activities:

Proceeds from asset sales and other, net

48.1

2.0

574.1

Decrease in restricted cash

0.0

0.1

Capital expenditures

(11.7)

(16.0)

(19.3)

Net cash from (used in) continuing operations

36.4

(14.0)

554.9

Net cash from (used in) discontinued operations (includes cash divested with the sale of Balcke Dürr of $30.2 in 2016 and net cash proceeds from dispositions of $108.6 in 2014)

(30.9)

(40.2)

72.5

Net cash from (used in) investing activities

5.5

(54.2)

627.4

Cash flows used in financing activities:

Repurchase of senior notes (includes premiums paid of $30.6)

0.0

(530.6)

Borrowings under senior credit facilities

56.2

1,264.0

572.0

Repayments under senior credit facilities

(65.0)

(1,167.0)

(339.0)

Borrowings under trade receivables agreement

72.0

156.0

91.0

Repayments under trade receivables agreement

(72.0)

(166.0)

(81.0)

Net borrowings (repayments) under other financing arrangements

(10.1)

12.2

7.0

Purchases of common stock

0.0

(488.8)

Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options and other

(1.6)

(6.2)

(12.9)

Financing fees paid

0.0

(12.2)

(0.4)

Dividends paid

0.0

(45.9)

(59.8)

Cash divested in connection with the spin-off of FLOW Business

0.0

(208.6)

0.0

Net cash used in continuing operations

(20.5)

(173.7)

(842.5)

Net cash used in discontinued operations

0.0

(1.9)

(60.3)

Net cash used in financing activities

(20.5)

(175.6)

(902.8)

Change in cash and equivalents due to changes in foreign currency exchange rates

6.7

(57.9)

(65.2)

Net change in cash and equivalents

(1.8)

(326.2)

(264.2)

Consolidated cash and equivalents, beginning of period

101.4

427.6

691.8

Consolidated cash and equivalents, end of period

99.6

101.4

427.6

Cash and equivalents of continuing operations

99.6

97.2

231.8

Supplemental disclosure of cash flow information:

Interest paid

12.5

60.8

65.9

Income taxes paid, net of refunds of $4.3, $8.8 and $10.0 in 2016, 2015 and 2014, respectively

4.8

51.0

314.8

Non-cash investing and financing activity:

Debt assumed

$ 3.9

$ 1.0

$ 0.2

[1]	For SPX FLOW, represents financial results through the date of Spin-Off (i.e., the nine months ended September 26, 2015), except for a revision to increase the income tax provision by $1.4 that was recorded during the fourth quarter of 2015.

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Cash Flows [Abstract]
Cash consideration, exclusive of cash transferred	$ 30.2		$ 108.6
Repurchase of senior notes, premiums paid			30.6
Income tax refunds	$ 4.3	$ 8.8	$ 10.0

Basis of Presentation and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2016

Basis of Presentation and Summary of Significant Accounting Policies

Our significant accounting policies are described below, as well as in other Notes that follow. Unless otherwise indicated, amounts provided in these Notes pertain to continuing operations only (see Note 4 for information on discontinued operations).

Principles of Consolidation — The consolidated financial statements include SPX Corporation’s (“SPX”, “our”, or “we”) accounts prepared in conformity with accounting principles generally accepted in the United States (“GAAP”) after the elimination of intercompany transactions. Investments in unconsolidated companies where we exercise significant influence but do not have control are accounted for using the equity method. In determining whether we are the primary beneficiary of a variable interest entity (“VIE”), we perform a qualitative analysis that considers the design of the VIE, the nature of our involvement and the variable interests held by other parties to determine which party has the power to direct the activities of the VIE that most significantly impact the entity’s economic performance, and which party has the obligation to absorb losses or the right to receive benefits of the entity that could potentially be significant to the VIE. We have an interest in a VIE, in which we are not the primary beneficiary, as a result of the sale of Balcke Dürr. See below and in Notes 2, 4 and 15 for further discussion of the Balcke Dürr sale. All other VIEs are considered immaterial, individually and in aggregate, to our consolidated financial statements.

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 and trades under the ticker symbol, “SPXC”. The financial results of SPX FLOW for the years ended December 31, 2015 and 2014 have been classified as discontinued operations within the accompanying consolidated financial statements.

Shift Away from the Power Generation Markets — Prior to the Spin-Off, our businesses serving the power generation markets had a major impact on the consolidated financial results of SPX. In recent years, these businesses have experienced significant declines in revenues and profitability associated with weak demand and increased competition within the global power generation markets. Based on a review of our post-spin portfolio and the belief that a recovery within the power generation markets was unlikely in the foreseeable future, we decided that our strategic focus would be on our (i) scalable growth businesses that serve the heating and ventilation (“HVAC”) and detection and measurement markets and (ii) power transformer and process cooling systems businesses. As a result, we have been reducing our exposure to the power generation markets as indicated by the disposals summarized below.

On November 20, 2015, we entered into an agreement to sell our dry cooling business, a business that provides dry cooling products to the global power generation markets. On March 30, 2016, we completed the sale of the dry cooling business. See Note 4 for additional details on the sale of the dry cooling business.

Balcke Dürr, a business that provides heat exchangers and other related components primarily to the European and Asian power generation markets, historically has been the most significant of our power generation businesses. Weak demand within the European power generation markets has resulted in continuing declines in the business’s revenues and profitability. For example, revenue from 2014 to 2015 declined 37.9%, and during 2015 the business incurred a net loss of $39.6. In response to these financial trends and results, we performed an in-depth strategic review of the business during the first half of 2016. Based on such review, we concluded that a sale of Balcke Dürr would be our best strategic option for the business. Thus, towards the end of the second quarter of 2016, we initiated efforts to sell Balcke Dürr. As these efforts progressed during the third quarter of 2016, only a limited number of parties expressed interest in acquiring the business. As a result, the business did not meet the “held for sale” criteria as of the end of the third quarter of 2016. In November 2016, we began negotiations for the sale of Balcke Dürr and completed the sale on December 30, 2016 to a subsidiary of matures AG (the “Buyer”), which allowed Balcke Dürr to meet the “held for sale” criteria as of the end of the fourth quarter of 2016.

With the sale, we have eliminated the losses and liquidity needs of Balcke Dürr that were expected to be significant for the foreseeable future and, thus, have also significantly reduced our exposure to the power generation markets. As we consider the disposition of Balcke Dürr to be the cornerstone of our strategic shift away from the power generation markets, and given the fact that the disposition of Balcke Dürr will have a major effect on our operations and financial results, we have classified the business as a discontinued operation within the accompanying consolidated financial statements for all periods presented. See Note 4 for additional details on the sale of Balcke Dürr and its historical financial results.

Change to the Name of Our Power Reportable Segment — In recognition of our shift away from the power generation markets, we changed the name of our “Power” reportable segment to “Engineered Solutions,” effective in the fourth quarter of 2016. We believe the new name better reflects the current industries and customers served by the segment. Other than the sales of the previously mentioned businesses, there were no additional changes to the segment’s composition. The information for this segment for all periods included in these consolidated financial statements has been labeled using the new name.

Retirement of Treasury Stock — In 2016, we retired 50.0 shares or $2,948.1, of “Common stock in treasury.” Under the applicable state law, these shares represent authorized and unissued shares upon retirement. In accordance with our accounting policy, we allocate any excess of share repurchase over par value between “Paid-in capital” and “Retained earnings,” resulting in respective reductions of $1,285.4 and $1,662.2.

Foreign Currency Translation and Transactions — The financial statements of our foreign subsidiaries are translated into U.S. dollars in accordance with the Foreign Currency Matters Topic of the Financial Accounting Standards Board Codification (“Codification” or “ASC”). Gains and losses on foreign currency translations are reflected as a separate component of shareholders’ equity and other comprehensive income. Foreign currency transaction gains and losses, as well as gains and losses related to foreign currency forward contracts and currency forward embedded derivatives, are included in “Other income (expense), net,” with the related net losses totaling $2.4, $8.6 and $2.6 in 2016, 2015 and 2014, respectively.

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

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

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

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

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

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

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

We recognized $336.1, $361.8 and $434.1 in revenues under the percentage-of-completion method for the years ended December 31, 2016, 2015 and 2014, respectively. Costs and estimated earnings on uncompleted contracts, from their inception, and related amounts billed as of December 31, 2016 and 2015 were as follows:



	2016			2015
Costs incurred on uncompleted contracts	$	1,191.4		$	1,105.6
Estimated earnings to date	25.0			29.3
	1,216.4			1,134.9
Less: Billings to date	(1,235.8		)	(1,153.6		)
Billings in excess of costs and estimated earnings	$	(19.4	)	$	(18.7	)

These amounts are included in the accompanying consolidated balance sheets at December 31, 2016 and 2015 as shown below. Amounts for billed retainages and receivables to be collected in excess of one year are not significant for the periods presented.



	2016			2015
Costs and estimated earnings in excess of billings⁽¹⁾	$	33.9		$	78.6
Billings in excess of costs and estimated earnings on uncompleted contracts⁽²⁾	(53.3		)	(97.3		)
Net billings in excess of costs and estimated earnings	$	(19.4	)	$	(18.7	)

___________________________________________________________________


⁽¹⁾	Reported as a component of “Accounts receivable, net.”


⁽²⁾	Reported as a component of “Accrued expenses.”

Research and Development Costs — We expense research and development costs as incurred. We charge costs incurred in the research and development of new software included in products to expense until technological feasibility is established. After technological feasibility is established, additional eligible costs are capitalized until the product is available for general release. We amortize these costs over the economic lives of the related products and include the amortization in cost of products sold. We perform periodic reviews of the recoverability of these capitalized software costs. At the time we determine that capitalized amounts are not recoverable based on the estimated cash flows to be generated from the applicable software, we write off any unrecoverable capitalized amounts. Capitalized software, net of amortization, totaled $10.5 and $9.9 as of December 31, 2016 and 2015, respectively. Capitalized software amortization expense totaled $1.2, $0.2 and $0.5 for 2016, 2015 and 2014, respectively. We expensed research activities relating to the development and improvement of our products of $29.1, $28.6 and $30.2 in 2016, 2015 and 2014, respectively.

Property, Plant and Equipment — Property, plant and equipment (“PP&E”) is stated at cost, less accumulated depreciation. We use the straight-line method for computing depreciation expense over the useful lives of PP&E, which do not exceed 40 years for buildings and range from 3 to 15 years for machinery and equipment. Depreciation expense, including amortization of capital leases, was $22.5, $31.8 and $34.9 for the years ended December 31, 2016, 2015 and 2014, respectively. Leasehold improvements are amortized over the life of the related asset or the life of the lease, whichever is shorter. Interest is capitalized on significant construction or installation projects. No interest was capitalized during 2016, 2015 or 2014.

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

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

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

For those transactions that are designated as cash flow hedges, on the date the derivative contract is entered into, we document our hedge relationship, including identification of the hedging instruments and the hedged items, as well as our risk management objectives and strategies for undertaking the hedge transaction. We also assess, both at inception and quarterly thereafter, whether such derivatives are highly effective in offsetting changes in the fair value of the hedged item. See Notes 12 and 14 for further information.

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

Use of Estimates

12 Months Ended

Dec. 31, 2016

Use of Estimates

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

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

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



	Year ended December 31,
	2016			2015			2014
Balance at beginning of year	$	9.1		$	12.9		$	20.9
Allowances provided	15.7			14.0			17.4
Write-offs, net of recoveries, credits issued and other	(14.7		)	(17.8		)	(25.4		)
Balance at end of year	$	10.1		$	9.1		$	12.9

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

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

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

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

Accrued Expenses — We make estimates and judgments in establishing accruals as required under GAAP. Summarized in the table below are the components of accrued expenses at December 31, 2016 and 2015.



	December 31,
	2016		2015
Employee benefits	$	69.3	$	76.8
Unearned revenue⁽¹⁾	117.8		173.1
Warranty	15.6		17.0
Other⁽²⁾	101.6		108.2
Total⁽³⁾	$	304.3	$	375.1

___________________________________________________________________


⁽¹⁾	Unearned revenue includes billings in excess of costs and estimated earnings on uncompleted contracts accounted for under the percentage-of-completion method of revenue recognition, customer deposits and unearned amounts on service contracts.


⁽²⁾	Other consists of various items including, among other items, accrued legal costs, interest and restructuring costs, none of which is individually material.

⁽³⁾

The balance at December 31, 2015 includes $25.3 related to our dry cooling business. As indicated in Note 1, on November 20, 2015, we entered into an agreement to sell the dry cooling business. As a result, the assets and liabilities of the dry cooling business have been classified as “held for sale” in the accompanying consolidated balance sheet as of December 31, 2015. See Note 4 for information on the assets and liabilities of the dry cooling business as of December 31, 2015.

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

Environmental Remediation Costs — We expense costs incurred to investigate and remediate environmental issues unless they extend the economic useful lives of related assets. We record liabilities when it is probable that an obligation has been incurred and the amounts can be reasonably estimated. Our environmental accruals cover anticipated costs, including investigation, remediation and operation and maintenance of clean-up sites. Our estimates are based primarily on investigations and remediation plans established by independent consultants, regulatory agencies and potentially responsible third parties. We generally do not discount environmental obligations or reduce them by anticipated insurance recoveries.

Risk Management Matters — We are subject to claims associated with risk management matters (e.g., product liability, predominately associated with alleged exposure to asbestos-containing materials, general liability, automobile, and workers’ compensation claims). 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. We also have recorded insurance recovery assets associated with the asbestos product liability matters. 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. In addition, we are self-insured for certain of our workers’ compensation, automobile, product, general liability, disability and health costs, and we maintain adequate accruals to cover our retained liabilities. Our accruals for self-insurance liabilities are based on claims filed and an estimate of claims incurred but not yet reported, and generally are not discounted. We consider a number of factors, including third-party actuarial valuations, when making these determinations. We maintain third-party stop-loss insurance policies to cover certain liability costs in excess of predetermined retained amounts; however, this insurance may be insufficient or unavailable (e.g., because of insurer insolvency) to protect us against potential loss exposures. The key assumptions considered in estimating the ultimate cost to settle reported claims and the estimated costs associated with incurred but not yet reported claims include, among other factors, our historical and industry claims experience, trends in health care and administrative costs, our current and future risk management programs, and historical lag studies with regard to the timing between when a claim is incurred and reported. See Note 13 for additional details.

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



	Year ended December 31,
	2016			2015			2014
Balance at beginning of year	$	36.3		$	34.5		$	30.4
Provisions	15.2			18.1			21.7
Usage	(15.5		)	(16.0		)	(17.3		)
Currency translation adjustment	(0.2		)	(0.3		)	(0.3		)
Balance at end of year	35.8			36.3			34.5
Less: Current portion of warranty	15.6			17.0			18.0
Non-current portion of warranty	$	20.2		$	19.3		$	16.5

__________________________________________________________________

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

Employee Benefit Plans — Defined benefit plans cover a portion of our salaried and hourly employees, including certain employees in foreign countries. As discussed in Note 1, we recognize changes in the fair value of plan assets and actuarial gains and losses associated with our pension and postretirement benefit plans in earnings during the fourth quarter of each year, unless earlier remeasurement is required, as a component of net periodic benefit expense. The remaining components of pension/postretirement expense, primarily service and interest costs and expected return on plan assets, are recorded on a quarterly basis. See Note 9 for further discussion of our pension and postretirement benefits.

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

Parent Guarantees and Bonds Associated with Balcke Dürr — As further discussed in Note 4, in connection with the sale of Balcke Dürr, we remain contingently obligated under existing parent company guarantees of approximately €79.0 and bank and surety bonds of €79.0. We have accounted for our contingent obligation in accordance with the Guarantees Topic of the Codification, which required that we record a liability for the estimated fair value of the parent company guarantees and the bonds in connection with the accounting for the sale of Balcke Dürr. We estimated the fair value of the parent company guarantees and bank and surety bonds considering the probability of default by Balcke Dürr and an estimate of the amount we would be obligated to pay in the event of a default. As also discussed in Note 4, under the related purchase agreement, Balcke Dürr provided cash collateral and mutares AG provided a partial guarantee in the event any of the parent company guarantees or bonds are called. We recorded an asset for the estimated fair value of the cash collateral provided by Balcke Dürr and the partial guarantee provided by mutares AG, with the estimated fair values based on the terms and conditions and relative risk associated with each of these securities. In future periods, we will amortize the liability and asset to “Income (loss) from continuing operations,” with the amortization of the liability generally to occur at the earlier of the completion of the related underlying project milestones or the expiration of the guarantees or bonds, and the amortization of the asset to occur based on the expiration terms of each of the securities. We will continue to evaluate the adequacy of the recorded liability and will record an adjustment to the liability if we conclude that it is probable that we will be required to fund an amount greater than what is recorded. See Note 15 for further information regarding the estimated fair values of the parent company guarantees and bonds, as well as the cash collateral provided by Balcke Dürr and the partial guarantee provided by mutares AG.

New Accounting Pronouncements	12 Months Ended
New Accounting Pronouncements	Dec. 31, 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 April 2014, the Financial Accounting Standards Board (“FASB”) issued an amendment to guidance to change the criteria for determining which disposals of components of an entity can be presented as discontinued operations and to modify related disclosure requirements. Under the amended guidance, a discontinued operation is defined as a disposal of a component or group of components that is disposed of or is classified as held for sale and represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. The amendment states that a “strategic shift” could include a disposal of (i) a major geographical area of operations, (ii) a major line of business, (iii) a major equity method investment, or (iv) other major parts of an entity. The standard no longer precludes presentation as a discontinued operation if there are operations and cash flows of the component that have not been eliminated from the reporting entity’s ongoing operations, or there is significant continuing involvement with a component after its disposal. This amendment was effective for interim and annual reporting periods beginning after December 15, 2014. We adopted this guidance on January 1, 2015. See Note 4 for businesses classified as a discontinued operation in accordance with this amendment. In May 2014, the FASB issued a new standard on revenue recognition that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The new standard contains a five-step approach that entities will apply to determine the measurement of revenue and timing of when it is recognized, including (i) identifying the contract(s) with a customer, (ii) identifying the separate performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to separate performance obligations, and (v) recognizing revenue when (or as) each performance obligation is satisfied. The new standard requires a number of disclosures intended to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue, and the related cash flows. The disclosures include qualitative and quantitative information about contracts with customers, significant judgments made in applying the revenue guidance, and assets recognized from the costs to obtain or fulfill a contract. The standard is effective for interim and annual reporting periods beginning after December 15, 2017 and we currently plan to adopt the standard using the modified retrospective transition method. The modified retrospective transition approach will recognize any changes from the beginning of the year of initial application through retained earnings with no restatement of comparative periods. We are continuing to assess the potential effect that the standard is expected to have on our consolidated financial statements. We believe the more significant effects on our existing accounting policies will be associated with our power transformer business. Under the new standard, revenue for our power transformers will be recognized over time, which is a change from our current accounting policy of recognizing revenue for power transformers at a point in time. In April 2015, 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 consolidated balance sheets. See Note 11 for additional details. In April 2015, the FASB issued an amendment to existing guidance that, among other changes, permits an entity that has a significant event in an interim period that requires a remeasurement of defined benefit plan assets and obligations to remeasure such assets and obligations using the month-end date that is closest to the date of the significant event, rather than the date of the plan event. Under the amended guidance, the month-end remeasurement of defined benefit plan assets and obligations that is closest to the date of the significant event should be adjusted to reflect any effects of the significant event, to the extent those effects are not captured in the month-end measurement. An entity is required to disclose its accounting policy election and the dates used to measure defined benefit plan assets and obligations in accordance with the provisions of this amended guidance. Although earlier application is permitted, the amendment is effective for interim and annual reporting periods beginning after December 15, 2015, and shall be applied prospectively. We early adopted the provisions of this amendment during the third quarter of 2015 in connection with an amendment to certain of our U.S. pension plans during the period. See Note 9 for additional information on the adoption of this amendment and the impact on our consolidated financial statements. In November 2015, the FASB issued an amendment to existing guidance that simplifies the presentation of deferred income taxes. The amended guidance requires that deferred tax assets and liabilities be classified as non-current in a statement of financial position. Although earlier application is permitted, the amendment is effective for interim and annual reporting periods beginning after December 15, 2016, with prospective or retrospective adoption permitted. We early adopted the amendment during the fourth quarter of 2015, on a prospective basis, resulting in the classification of our deferred tax assets and deferred tax liabilities as non-current within the accompanying consolidated balance sheets as of December 31, 2016 and 2015. 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 this new standard will have on our 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. This standard is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. The standard requires that all excess tax benefits and deficiencies currently recorded in “shareholders’ equity” be prospectively recorded to the statement of operations within the income tax (provision) benefit. These excess tax benefits and deficiencies are primarily driven by fluctuations in our stock price between the date a share-based award is granted and the date the award vests. As such, under this standard we could experience volatility in our income tax (provision) benefit and effective income tax rate. The standard also requires excess tax benefits or deficiencies be presented as an operating activity within the statement of cash flows rather than as a financing activity. This element of the standard may be applied retrospectively or prospectively. We are currently evaluating the effect this new standard will have on our consolidated financial statements. In August 2016, the FASB issued an amendment to existing guidance to reduce diversity in practice in how certain cash receipts and cash payments are presented in the statement of cash flows. This amendment provides clarification on eight specific cash flow presentation issues. The issues include, but are not limited to, debt prepayment or extinguishment costs, settlement of zero-coupon debt, proceeds from the settlement of insurance claims, and cash receipts from payments on beneficial interests in securitization transactions. This amendment is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods. Early adoption is permitted. We are currently evaluating the effect this amendment will have on our consolidated financial statements. In January 2017, the FASB issued an amendment to simplify the subsequent measurement of goodwill by removing the second step of the two-step impairment test. The amendment requires that an entity recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. This amendment is effective for annual reporting periods beginning after December 31, 2019, including interim periods within those annual reporting periods. Early adoption is permitted. The impact of this amendment on our consolidated financial statements will depend on the results of future goodwill impairment tests.

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
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=66092750

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22583-107794

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22580-107794

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22499-107794

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e725-108305

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations and Other Dispositions

12 Months Ended

Dec. 31, 2016

Discontinued Operations and Other Dispositions

Sale of Balcke Dürr Business

As indicated in Note 1, on December 30, 2016, we completed the sale of Balcke Dürr for cash proceeds of less than $0.1. In addition, we left $21.1 of cash in Balcke Dürr at the time of the sale and provided the Buyer with a non-interest bearing loan of $9.1, payable in installments due at the end of 2018 and 2019. In connection with the sale, we recorded a net loss of $78.6 to “Gain (loss) on disposition of discontinued operations, net of tax.”

The purchase agreement provides that existing parent company guarantees of approximately €79.0 and bank and surety bonds of approximately €79.0 will remain in place through each instrument’s expiration date, with such expiration dates ranging from 2017 to 2022. Balcke Dürr and the Buyer have provided us a full indemnity in the event that any of these guarantees or bonds are called. Also, Balcke Dürr has provided cash collateral of €4.0 and mutares AG has provided a guarantee of €5.0 as a security for the above indemnifications. The net loss on the sale of the business of $78.6 includes a charge of $5.1 associated with the estimated fair value of the guarantees and bonds, after consideration of the indemnifications provided in the event any of the guarantees or bonds are called. See Note 15 for further details regarding the estimated fair value of these guarantees and bonds.

The final sales price for Balcke Dürr 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. Accordingly, it is possible that the sales price and resulting loss for this divestiture may be materially adjusted in subsequent periods.

As indicated in Note 1, the results of Balcke Dürr are presented as a discontinued operation within the accompanying consolidated financial statements for all periods presented. Major classes of line items constituting pre-tax income (loss) and after-tax income (loss) of Balcke Dürr for the years ended December 31, 2016, 2015 and 2014 are shown below:



	Year ended December 31,
	2016			2015			2014
Revenues	$	153.4		$	160.3		$	258.3
Costs and expenses:
Costs of products sold	144.2			143.8			198.5
Selling, general and administrative	31.4			37.9			50.6
Impairment of goodwill	—			13.7			—
Special charges (credits), net	(1.3		)	12.7			3.4
Other expense	(0.2		)	(0.9		)	(2.1		)
Income (loss) before taxes	(21.1		)	(48.7		)	3.7
Income tax (provision) benefit	4.5			9.1			(2.2		)
Income (loss) from discontinued operations	$	(16.6	)	$	(39.6	)	$	1.5

The assets and liabilities of Balcke Dürr have been reclassified to assets and liabilities of discontinued operations as of December 31, 2015. The major classes of Balcke Dürr’s assets and liabilities as of December 31, 2015 are shown below:



ASSETS:
Cash and equivalents	$	4.2
Accounts receivable, net	61.9
Inventories, net	9.4
Other current assets	8.7
Assets of discontinued operations - current	84.2
Property, plant and equipment, net	14.2
Other assets (includes $19.6 of “Deferred and other income taxes”)	21.6
Assets of discontinued operations - non current	35.8
Total assets - discontinued operations	$	120.0

LIABILITIES:
Accounts payable	$	19.9
Accrued expenses	53.9
Income taxes payable	0.1
Liabilities of discontinued operations - current	73.9
Liabilities of discontinued operations - non current (includes $15.5 of “Deferred and other income taxes”)	24.0
Total liabilities - discontinued operations	$	97.9

The following table presents selected financial information for Balcke Dürr that is included within discontinued operations in the consolidated statements of cash flows:



	Year ended December 31,
	2016		2015		2014
Non-cash items included in income (loss) from discontinued operations, net of tax
Depreciation and amortization	$	2.0	$	2.2	$	2.8
Impairment of goodwill	—		13.7		—
Capital expenditures	0.7		1.9		1.1

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 consolidated statements of operations and consolidated statements of cash flows. Major classes of line items constituting pre-tax income and after-tax income of SPX FLOW for the years ended December 31, 2015 ⁽¹⁾ and 2014 are shown below:



	Year ended December 31,
	2015 ⁽¹⁾			2014
Revenues	$	1,775.1		$	2,768.4
Costs and expenses:
Costs of products sold	1,179.3			1,831.0
Selling, general and administrative ⁽²⁾	368.2			507.8
Intangible amortization	17.7			26.1
Impairment of intangible assets	15.0			11.7
Special charges	41.2			13.8
Other income (expense), net ⁽³⁾	1.3			(1.9		)
Interest expense, net	(32.6		)	(41.1		)
Income before taxes	122.4			335.0
Income tax provision	(43.0		)	(75.5		)
Income from discontinued operations	79.4			259.5
Less: Net loss attributable to noncontrolling interest	(0.9		)	(2.2		)
Income from discontinued operations attributable to common shareholders	$	80.3		$	261.7


⁽¹⁾	Represents financial results for SPX FLOW through the date of Spin-Off (i.e., the nine months ended September 26, 2015), except for a revision to increase the income tax provision by $1.4 that was recorded during the fourth quarter of 2015.


⁽²⁾	Includes $30.8 and $3.5 for the years ended December 31, 2015 and December 31, 2014, respectively, of professional fees and other costs that were incurred in connection with the Spin-Off.


⁽³⁾	Includes, for the year ended December 31, 2014, $5.0 of costs incurred to obtain the consents required of the holders of our 6.875% senior notes to amend certain provisions of the indenture governing such senior notes, with such consent obtained in connection with the Spin-Off.

The following table presents selected financial information for SPX FLOW that is included within discontinued operations in the consolidated statements of cash flows:



	Year ended December 31,
	2015 ⁽¹⁾		2014
Non-cash items included in income from discontinued operations, net of tax
Depreciation and amortization	$	44.3	$	65.8
Impairment of intangible assets	15.0		11.7
Capital expenditures	43.1		40.7
Payment of capital lease obligation	—		60.8


⁽¹⁾	Represents financial results for SPX FLOW through the date of Spin-Off (i.e., the nine months ended September 26, 2015).

In connection with the Spin-Off, we entered into definitive agreements with SPX FLOW that, among other matters, set forth the terms and conditions of the Spin-Off and provide a framework for our relationship with SPX FLOW after the Spin-Off, including the following:


•	Separation and Distribution Agreement;


•	Tax Matters Agreement;


•	Employee Matters Agreement; and


•	Trademark License Agreement.

Pursuant to the Separation and Distribution Agreement, the Employee Matters Agreement and the Tax Matters Agreement, SPX FLOW has agreed to indemnify us for certain liabilities, and we have agreed to indemnify SPX FLOW for certain liabilities, in each case for uncapped amounts. As of December 31, 2016, no indemnification claims have been initiated.

The financial activity governed by these agreements between SPX FLOW and us was not material to our consolidated financial results for the years ended December 31, 2016 and 2015.

We also entered into a five-year agreement with SPX FLOW to lease office space for our corporate headquarters. Annual lease costs associated with the agreement are $2.1.

Other Discontinued Operations Activity

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

SPX Precision Components — Sold for cash consideration of $62.6 during 2014, resulting in a loss, net of taxes, of $6.9.

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

In addition to the businesses discussed above, we recognized net losses of $2.7, $5.2 and $1.1 during 2016, 2015 and 2014, respectively, resulting from adjustments to gains/losses on dispositions of businesses discontinued prior to 2014.

Changes in estimates associated with liabilities retained in connection with a business divestiture (e.g., income taxes) may occur. As a result, it is possible that the resulting gains/losses on these and other previous divestitures may be materially adjusted in subsequent periods.

The following table presents selected information regarding the results of operations of our businesses included in discontinued operations, other than Balcke Dürr and SPX FLOW, for the years ended December 31, 2016, 2015 and 2014:



	Year ended December 31,
	2016		2015		2014
Revenues	$	—	$	—	$	27.7
Pre-tax loss	—		—		(6.1		)
Loss from discontinued operations, net	—		—		(5.0		)

For the years ended December 31, 2016, 2015 and 2014, results of operations from our businesses reported as discontinued operations were as follows:



	Year ended December 31,
	2016			2015 ⁽¹⁾			2014
Balcke Dürr
Income (loss) from discontinued operations	$	(107.0	)	$	(48.7	)	$	3.7
Income tax (provision) benefit	11.8			9.1			(2.2		)
Income (loss) from discontinued operations, net	(95.2		)	(39.6		)	1.5

SPX FLOW
Income from discontinued operations	$	—		$	122.4		$	335.0
Income tax provision	—			(43.0		)	(75.5		)
Income from discontinued operations, net	—			79.4			259.5

All other
Income (loss) from discontinued operations	$	(3.7	)	$	(8.6	)	$	22.1
Income tax (provision) benefit	1.0			3.4			(13.8		)
Income (loss) from discontinued operations, net	(2.7		)	(5.2		)	8.3

Total
Income (loss) from discontinued operations	$	(110.7	)	$	65.1		$	360.8
Income tax (provision) benefit	12.8			(30.5		)	(91.5		)
Income (loss) from discontinued operations, net	$	(97.9	)	$	34.6		$	269.3


⁽¹⁾	For SPX FLOW, represents financial results through the date of Spin-Off (i.e., the nine months ended September 26, 2015), except for a revision to increase the income tax provision by $1.4 that was recorded during the fourth quarter of 2015.

Other Dispositions

As indicated in Note 1, on November 20, 2015, we entered into an agreement for the sale of our dry cooling business. On March 30, 2016, we completed the sale for cash proceeds of $47.6 (net of cash transferred with the business of $3.0). In connection with the sale, we recorded a gain of $18.4. The gain includes a reclassification from “Equity” of other comprehensive income of $40.4 related to foreign currency translation.

The assets and liabilities of our dry cooling business are presented as “held for sale” within the accompanying 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:



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

On January 7, 2014, we completed the sale of our 44.5% interest in EGS Electrical Group, LLC and Subsidiaries (“EGS”) for cash proceeds of $574.1. As a result of the sale, we recorded a gain of $491.2 to “Other income (expense), net” during 2014. Prior to sale, we accounted for our investment in EGS under the equity method.

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=64862545&loc=SL51724579-110230

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2941-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760

Information on Reportable Segments

Information on Reportable Segments

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

We are a global supplier of highly specialized, engineered solutions with operations in approximately 15 countries and sales in over 100 countries around the world.

We have aggregated our operating segments into the following three reportable segments: HVAC, Detection and Measurement, and Engineered Solutions. 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. Operating income or loss for each of our segments is determined before considering 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 and Europe.

Engineered Solutions Reportable Segment

As previously discussed in Note 1, in recognition of our shift away from the power generation markets, we changed the name of our Power reportable segment to “Engineered Solutions,” effective in the fourth quarter of 2016.

Our Engineered Solutions reportable segment engineers, designs, manufactures, installs and services transformers for the power transmission and distribution market and process cooling equipment and rotating and stationary heat exchangers for the power generation and industrial markets. The primary distribution channels for the segment’s products are direct to customers and third-party representatives. The segment has a strong presence in North America and South Africa.

Corporate Expense

Corporate expense generally relates to the cost of our Charlotte, NC corporate headquarters, our former Asia Pacific center in Shanghai, China, which was part of the Spin-Off, and costs that were previously allocated to the FLOW Business and that do not meet the requirements to be presented within discontinued operations.

Financial data for our reportable segments for the years ended December 31, 2016, 2015 and 2014 were as follows:



	2016		2015			2014
Revenues:
HVAC segment	$	509.5	$	529.1		$	535.7
Detection and Measurement segment	226.4		232.3			244.4
Engineered Solutions segment ⁽¹⁾	736.4		797.6			914.3
Consolidated revenues	$	1,472.3	$	1,559.0		$	1,694.4
Income (loss):
HVAC segment	$	80.2	$	80.2		$	69.4
Detection and Measurement segment	45.3		46.0			55.2
Engineered Solutions segment ⁽¹⁾	17.3		(87.4		)	(3.6		)
Total income for segments	142.8		38.8			121.0
Corporate expense	41.7		103.4			133.9
Pension and postretirement expense	15.4		18.6			104.9
Long-term incentive compensation expense	13.7		33.9			32.7
Impairment of intangible and other long-term assets	30.1		—			28.9
Special charges, net	5.3		5.1			5.9
Gain on sale of dry cooling business	18.4		—			—
Consolidated operating income (loss)	$	55.0	$	(122.2	)	$	(185.3	)

Capital expenditures:
HVAC segment	$	1.9	$	2.3		$	4.3
Detection and Measurement segment	0.7		1.2			2.3
Engineered Solutions segment	6.5		8.1			7.1
General corporate	2.6		4.4			5.6
Total capital expenditures	$	11.7	$	16.0		$	19.3
Depreciation and amortization:
HVAC segment	$	5.3	$	4.6		$	4.5
Detection and Measurement segment	3.5		2.8			2.7
Engineered Solutions segment	15.2		20.7			22.7
General corporate	2.5		8.9			10.7
Total depreciation and amortization	$	26.5	$	37.0		$	40.6



	2016		2015		2014
Identifiable assets:
HVAC segment	$	710.1	$	623.0	$	684.8
Detection and Measurement segment	244.2		256.5		217.1
Engineered Solutions segment	567.6		808.6		870.8
General corporate	390.6		371.2		449.1
Discontinued operations	—		120.0		3,672.5
Total identifiable assets	$	1,912.5	$	2,179.3	$	5,894.3
Geographic Areas:
Revenues: ⁽²⁾
United States	$	1,235.2	$	1,255.4	$	1,302.6
China	33.5		83.6		108.7
South Africa ⁽¹⁾	105.4		54.2		109.2
United Kingdom	59.1		69.6		69.2
Other	39.1		96.2		104.7
	$	1,472.3	$	1,559.0	$	1,694.4

Tangible Long-Lived Assets:
United States	$	897.0	$	835.9	$	796.9
Other	29.6		40.4		35.2
Long-lived assets of continuing operations	926.6		876.3		832.1
Long-lived assets of discontinued operations	—		35.8		563.2
Total tangible long-lived assets	$	926.6	$	912.1	$	1,395.3

___________________________________________________________________

⁽¹⁾

As further discussed in Note 13, during the third quarter of 2015, we made revisions to our estimates of expected revenues and profits on our large power projects in South Africa. As a result of these revisions, we reduced revenue and segment income by $57.2 and $95.0, respectively, during the third quarter of 2015. During the fourth quarter of 2014, we reduced the revenues and profits on our large power projects in South Africa by $25.0 due to schedule delays and financial challenges faced by certain of our subcontractors.


⁽²⁾	Revenues are included in the above geographic areas based on the country that recorded the customer revenue.

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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

Restructuring and Related Activities [Abstract]

Special Charges, Net

12 Months Ended

Dec. 31, 2016

Special Charges, Net

As part of our business strategy, we periodically right-size and consolidate operations to improve long-term results. Additionally, from time to time, we alter our business model to better serve customer demand, discontinue lower-margin product lines and rationalize and consolidate manufacturing capacity. Our restructuring and integration decisions are based, in part, on discounted cash flows and are designed to achieve our goals of reducing structural footprint and maximizing profitability. As a result of our strategic review process, we recorded net special charges of $5.3 in 2016, $5.1 in 2015 and $5.9 in 2014. These net special charges were primarily related to restructuring initiatives to consolidate manufacturing and sales facilities, reduce workforce, and rationalize certain product lines.

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

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

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

We anticipate that the liabilities related to restructuring actions will be paid within one year from the period in which the action was initiated.

Special charges for the years ended December 31, 2016, 2015 and 2014 are described in more detail below and in the applicable sections that follow:



	Years Ended December 31,
	2016		2015		2014
Employee termination costs	$	1.7	$	4.5	$	5.3
Facility consolidation costs	—		0.2		0.3
Other cash costs, net	—		0.1		0.3
Non-cash asset write-downs	3.6		0.3		—
Total	$	5.3	$	5.1	$	5.9

2016 Charges:



	Employee Termination Costs		Facility Consolidation Costs		Other Cash Costs, Net		Non-Cash Asset Write-downs		Total Special Charges
HVAC segment	$	—	$	—	$	—	$	—	$	—
Detection and Measurement segment	0.5		—		—		0.3		0.8
Engineered Solutions segment	1.2		—		—		3.3		4.5
Corporate	—		—		—		—		—
Total	$	1.7	$	—	$	—	$	3.6	$	5.3

Detection and Measurement Segment — Charges for 2016 related to severance and other costs associated with our bus fare collection business. These actions resulted in the termination of 19 employees.

Engineered Solutions Segment — Charges for 2016 related primarily to costs incurred in connection with restructuring actions at our SPX Heat Transfer (“Heat Transfer”) business in order to reduce the cost base of the business in response to reduced demand. The cost incurred for the Heat Transfer business restructuring actions included asset impairment charges associated with the discontinuance of a product line and outsourcing initiatives of $3.3, as well as severance costs. These restructuring activities resulted in the termination of 97 employees.

2015 Charges:



	Employee Termination Costs		Facility Consolidation Costs		Other Cash Costs, Net			Non-Cash Asset Write-downs		Total Special Charges
HVAC segment	$	0.9	$	0.1	$	(0.2	)	$	0.3	$	1.1
Detection and Measurement segment	0.9		—		—			—		0.9
Engineered Solutions segment	1.6		0.1		0.3			—		2.0
Corporate	1.1		—		—			—		1.1
Total	$	4.5	$	0.2	$	0.1		$	0.3	$	5.1

HVAC Segment — Charges for 2015 related primarily to severance and other costs associated with facility consolidation efforts in Asia Pacific. These actions resulted in the termination of 44 employees.

Detection and Measurement Segment — Charges for 2015 related primarily to severance and other costs associated with restructuring initiatives at the segment’s specialty lighting and bus fare collection businesses. These actions resulted in the termination of 21 employees.

Engineered Solutions Segment — Charges for 2015 related primarily to severance and other costs associated with the continuation of restructuring actions at the segment’s dry cooling business in response to reduced demand. These actions resulted in the termination of 134 employees.

Corporate — Charges for 2015 related primarily to severance costs incurred in connection with the Spin-Off.

2014 Charges:



	Employee Termination Costs		Facility Consolidation Costs		Other Cash Costs, Net		Non-Cash Asset Write-downs		Total Special Charges
HVAC segment	$	0.7	$	0.2	$	—	$	—	$	0.9
Detection and Measurement segment	1.2		—		—		—		1.2
Engineered Solutions segment	2.7		0.1		0.3		—		3.1
Corporate	0.7		—		—		—		0.7
Total	$	5.3	$	0.3	$	0.3	$	—	$	5.9

HVAC Segment — Charges for 2014 related primarily to severance and other costs associated with the restructuring of a regional sales organization within the segment’s boiler products business. These actions resulted in the termination of 13 employees.

Detection and Measurement Segment — Charges for 2014 related primarily to severance and other costs associated with restructuring initiatives at various businesses within the segment. These actions resulted in the termination of 18 employees.

Engineered Solutions Segment — Charges for 2014 related primarily to severance and other costs associated with the closure of a facility in China. These actions resulted in the termination of 16 employees.

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

The following is an analysis of our restructuring liabilities for the years ended December 31, 2016, 2015 and 2014:



	December 31,
	2016			2015			2014
Balance at beginning of year	$	1.6		$	1.7		$	0.7
Special charges⁽¹⁾	1.7			4.8			5.9
Utilization — cash⁽²⁾	(2.1		)	(5.1		)	(5.1		)
Currency translation adjustment and other	(0.3		)	0.2			0.2
Balance at the end of year	$	0.9		$	1.6		$	1.7

___________________________________________________________________


⁽¹⁾	The years ended December 31, 2016, 2015 and 2014 excluded $3.6, $0.3 and $0.0, respectively, of non-cash charges that impacted special charges but not the restructuring liabilities.


⁽²⁾	The years ended December 31, 2016, 2015 and 2014 included $0.0, $0.0 and $0.6 of cash utilized to settle retained liabilities of discontinued operations.

Inventories, Net

12 Months Ended

Dec. 31, 2016

Inventory Disclosure [Abstract]

Inventories, Net

Inventories at December 31, 2016 and 2015 comprised the following:



	December 31,
	2016			2015
Finished goods	$	43.0		$	57.5
Work in process	50.0			53.7
Raw materials and purchased parts	64.9			75.4
Total FIFO cost	157.9			186.6
Excess of FIFO cost over LIFO inventory value	(12.2		)	(12.4		)
Total inventories⁽¹⁾	$	145.7		$	174.2


⁽¹⁾	The balance at December 31, 2015 includes $12.9 related to our dry cooling business. As previously noted, the assets and liabilities of the dry cooling business have been classified as “held for sale” in the accompanying consolidated balance sheet as of December 31, 2015. See Note 4 for information on the assets and liabilities of the dry cooling business as of December 31, 2015.

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 51% and 49% of total inventory at December 31, 2016 and 2015, respectively. Other inventories are valued using the first-in, first-out (“FIFO”) method.

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill, by reportable segment, for the year ended December 31, 2016, were as follows:



	December 31, 2015			Disposition of Business ⁽²⁾			Foreign Currency Translation			December 31, 2016
HVAC segment
Gross goodwill	$	261.3		$	—		$	(2.8	)	$	258.5
Accumulated impairments	(145.2		)	—			1.0			(144.2		)
Goodwill	116.1			—			(1.8		)	114.3
Detection and Measurement segment
Gross goodwill	219.1			—			(4.7		)	214.4
Accumulated impairments	(138.0		)	—			3.8			(134.2		)
Goodwill	81.1			—			(0.9		)	80.2
Engineered Solutions segment
Gross goodwill	391.6			(36.1		)	(4.1		)	351.4
Accumulated impairments	(235.3		)	25.9			3.9			(205.5		)
Goodwill ⁽¹⁾	156.3			(10.2		)	(0.2		)	145.9
Total
Gross goodwill	872.0			(36.1		)	(11.6		)	824.3
Accumulated impairments	(518.5		)	25.9			8.7			(483.9		)
Goodwill ⁽¹⁾	$	353.5		$	(10.2	)	$	(2.9	)	$	340.4


⁽¹⁾	The balance at December 31, 2015 includes $10.7 related to our dry cooling business. As previously noted, the assets and liabilities of the dry cooling business have been classified as “held for sale” in the accompanying consolidated balance sheet as of December 31, 2015. See Note 4 for information on the assets and liabilities of the dry cooling business as of December 31, 2015.


⁽²⁾	Represents goodwill allocated to our dry cooling business upon its disposition.

The changes in the carrying amount of goodwill, by reportable segment, for the year ended December 31, 2015, were as follows:



	December 31, 2014			Impairments		Foreign Currency Translation			December 31, 2015
HVAC segment
Gross goodwill	$	267.5		$	—	$	(6.2	)	$	261.3
Accumulated impairments	(147.9		)	—		2.7			(145.2		)
Goodwill	119.6			—		(3.5		)	116.1
Detection and Measurement segment
Gross goodwill	220.2			—		(1.1		)	219.1
Accumulated impairments	(139.1		)	—		1.1			(138.0		)
Goodwill	81.1			—		—			81.1
Engineered Solutions segment
Gross goodwill	402.0			—		(10.4		)	391.6
Accumulated impairments	(243.5		)	—		8.2			(235.3		)
Goodwill ⁽¹⁾	158.5			—		(2.2		)	156.3
Total
Gross goodwill	889.7			—		(17.7		)	872.0
Accumulated impairments	(530.5		)	—		12.0			(518.5		)
Goodwill ⁽¹⁾	$	359.2		$	—	$	(5.7	)	$	353.5


⁽¹⁾	As previously noted, the balance at December 31, 2015 includes $10.7 related to our dry cooling business.

Identifiable intangible assets were as follows:



	December 31, 2016							December 31, 2015
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Intangible assets with determinable lives:
Customer relationships ⁽¹⁾	$	1.4	$	(1.4	)	$	—	$	25.4	$	(9.5	)	$	15.9
Technology ^{(1) (2)}	2.1		(0.4		)	1.7		40.7		(25.2		)	15.5
Patents	4.5		(4.5		)	—		4.6		(4.6		)	—
Other	12.7		(7.4		)	5.3		14.2		(8.1		)	6.1
	20.7		(13.7		)	7.0		84.9		(47.4		)	37.5
Trademarks with indefinite lives ^{(1) (2)}	110.9		—			110.9		125.0		—			125.0
Total⁽³⁾	$	131.6	$	(13.7	)	$	117.9	$	209.9	$	(47.4	)	$	162.5


⁽¹⁾	As noted below, we recorded impairment charges of $30.1 during 2016 related to the customer relationships, technology and trademarks of our Heat Transfer business.

⁽²⁾

The balance at December 31, 2015 includes $2.4 and $5.9, respectively, related to our dry cooling business. As previously noted, the assets and liabilities of the dry cooling business have been classified as “held for sale” in the accompanying consolidated balance sheet as of December 31, 2015. See Note 4 for information on the assets and liabilities of the dry cooling business as of December 31, 2015.


⁽³⁾	Changes in the gross carrying value of “Other Intangibles, Net” during the year ended December 31, 2016 related to the sale of our dry cooling business, the impairment charges related to the Heat Transfer intangibles noted above, and, to a lesser extent, foreign currency translation.

Amortization expense was $2.8, $5.2 and $5.7 for the years ended December 31, 2016, 2015 and 2014, respectively. Estimated amortization expense related to these intangible assets is $0.6 in 2017 through 2021.

At December 31, 2016, the net carrying value of intangible assets with determinable lives consisted of $4.2 in the HVAC segment and $2.8 in the Engineered Solutions segment. Trademarks with indefinite lives consisted of $88.9 in the HVAC segment, $9.7 in the Detection and Measurement segment, and $12.3 in Engineered Solutions segment.

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

We perform our annual goodwill impairment testing during the fourth quarter in conjunction with our annual financial planning process, with such testing based primarily on events and circumstances existing as of the end of the third quarter. In addition, we test goodwill for impairment on a more frequent basis if there are indications of potential impairment. Based on our annual goodwill impairment testing in the fourth quarter of 2016, we concluded that the estimated fair value of each of our reporting units exceeds the carrying value of their respective net assets by at least 30.0%.

In recent years, Heat Transfer, a business that provides heat exchangers and other related components primarily to the U.S. power generation markets, has experienced a significant decline in revenues and profitability. As a result of these negative financial trends, we recorded an impairment charge of $10.9 during 2014 related to Heat Transfer’s trademarks. During 2015, the financial results for Heat Transfer stabilized. However, during the first quarter of 2016, the negative financial trends resurfaced and, thus, we recorded an impairment charge of $4.0 associated with the business’s trademarks during the quarter. In response to the return of these negative financial trends, during the second quarter of 2016, Heat Transfer initiated a restructuring action designed to significantly improve the business’s profitability and cash flows, including outsourcing much of the business’s existing manufacturing processes. This initiative has favorably impacted Heat Transfer’s financial results. Despite these improvements, our current projections of future cash flows indicate that the carrying value of the business’s intangible assets are no longer fully recoverable. As a result, during the fourth quarter of 2016, we recorded an impairment charge associated with Heat Transfer’s trademarks and definite-lived intangible assets of $26.1. After recording these impairment charges, the carrying value of Heat Transfer’s intangible assets was $6.1 as of December 31, 2016.

Compensation and Retirement Disclosure [Abstract]

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

+ References + Details

Employee Benefit Plans

12 Months Ended

Dec. 31, 2016

Employee Benefit Plans

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

We have domestic postretirement plans that provide health and life insurance benefits to certain retirees and their dependents. Beginning in 2003, we discontinued providing these postretirement benefits generally to newly hired employees.

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

During a designated election period during the first quarter of 2014, we offered approximately 7,100 eligible former employees a voluntary lump-sum payment option in lieu of a future pension benefit under the SPX U.S. Pension Plan (the “U.S. Plan”). Approximately 38%, or $165.2, of the projected benefit obligation of the U.S. Plan was settled as a result of lump-sum payments that were made to those who accepted the offer. In connection with this lump-sum payment action, a settlement loss and an actuarial loss of $4.6 and $14.8, respectively, were recorded to net periodic pension benefit expense, with the actuarial loss resulting from the re-measurement of the assets and liabilities of the U.S. Plan. In addition, during 2014, we increased the net settlement gain by $4.8 associated with the 2013 partial annuitization of the U.S. Plan.

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

On July 14, 2015, we amended the U.S. Plan and the Supplemental Individual Account Retirement Plan (‘‘SIARP’’) to freeze all benefits for active non-union participants. The amendment resulted in a curtailment gain of $5.1. In connection with the amendment, we remeasured the assets and liabilities of the U.S. Plan and the SIARP as of June 30, 2015, which resulted in a charge to net periodic pension benefit expense of $11.4, which was included in net periodic pension benefit expense for 2015.

In connection with the Spin-Off, participants in the U.S. Plan that were transferred to SPX FLOW became eligible to elect a lump-sum payment option in lieu of a future pension benefit under the U.S. Plan. During the second quarter of 2016, approximately 9%, or $25.2, of the projected benefit obligation of the U.S. Plan was settled as a result of lump-sum payments. In connection with these lump-sum payments, we remeasured the assets and liabilities of the U.S. Plan as of May 31, 2016, which resulted in a charge to net periodic pension benefit expense of $1.0, which was included in net periodic pension benefit expense for 2016.

During the second quarter of 2016, we made lump-sum payments to certain participants of the SIARP, settling approximately 22%, or $2.7, of the SIARP’s projected benefit obligation. In connection with these lump-sum payments, we remeasured the liabilities of the SIARP as of June 30, 2016, which resulted in a charge to net periodic pension benefit expense of $0.8, which was included in net periodic pension benefit expense for 2016.

Defined Benefit Pension Plans

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

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

Allowable investments under the plan agreements include fixed income securities, equity securities, mutual funds, venture capital funds, real estate and cash and equivalents. In addition, investments in futures and option contracts, commodities and other derivatives are allowed in commingled fund allocations managed by professional investment managers. Investments prohibited under the plan agreements include private placements and short selling of stock. No shares of our common stock were held by our defined benefit pension plans as of December 31, 2016 or 2015.

Actual asset allocation percentages of each class of our domestic and foreign pension plan assets as of December 31, 2016 and 2015, along with the targeted asset investment allocation percentages, each of which is based on the midpoint of an allocation range, were as follows:

Domestic Pension Plans



	Actual Allocations				Mid-point of Target Allocation Range
	2016		2015		2016
Fixed income common trust funds	44	%	54	%	50	%
Commingled global fund allocation	19	%	16	%	18	%
Corporate bonds	11	%	13	%	12	%
Global equity common trust funds	12	%	11	%	5	%
U.S. Government securities	12	%	3	%	13	%
Short-term investments ⁽¹⁾	2	%	2	%	—
Other ⁽²⁾	—	%	1	%	2	%
Total	100	%	100	%	100	%

___________________________________________________________________


⁽¹⁾	Short-term investments are generally invested in actively managed common trust funds or interest-bearing accounts.


⁽²⁾	Assets included in this class at December 31, 2015 are comprised primarily of insurance contracts, private equity and publicly traded real estate trusts.

Foreign Pension Plans



	Actual Allocations				Mid-point of Target Allocation Range
	2016		2015		2016
Global equity common trust funds	16	%	35	%	13	%
Global Equities	8	%	—	%	7	%
Fixed income common trust funds	30	%	8	%	39	%
Commingled global fund allocation	20	%	—	%	22	%
Non-U.S. Government securities	24	%	17	%	15	%
Short-term investments ⁽¹⁾	2	%	40	%	4	%
Total	100	%	100	%	100	%

___________________________________________________________________

⁽¹⁾

Short-term investments are generally invested in actively managed common trust funds or interest-bearing accounts. As of December 31, 2015, and in connection with a transition to a new investment advisor, the U.K. Plan had a significant amount of its assets invested in short-term investments. Following the engagement of a new investment advisor for the U.K. Plan, asset allocations for the U.K. Plan and aggregate asset allocations for our foreign plans are more in-line with targeted allocations.

The fair values of pension plan assets at December 31, 2016, by asset class, were as follows:



	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset class:
Debt securities:
Fixed income common trust funds ^{(1) (2)}	$	163.1	$	—	$	163.1	$	—
Corporate bonds	29.1		—		29.1		—
Non-U.S. Government securities	39.0		—		39.0		—
U.S. Government securities	31.1		—		31.1		—
Equity securities:
Global equity common trust funds ⁽¹⁾ ⁽³⁾	57.6		—		57.6		—
Global equities:	13.2		—		13.2		—
Alternative investments:
Commingled global fund allocations ⁽¹⁾ ⁽⁴⁾	80.6		—		80.6		—
Other:
Short-term investments ⁽⁵⁾	10.5		10.5		—		—
Other	1.0		—		—		1.0
Total	$	425.2	$	10.5	$	413.7	$	1.0

The fair values of pension plan assets at December 31, 2015, by asset class, were as follows:



	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset class:
Debt securities:
Fixed income common trust funds ^{(1) (2)}	$	163.4	$	13.2	$	150.2	$	—
Corporate bonds	36.0		—		36.0		—
Non-U.S. Government securities	27.4		—		27.4		—
U.S. Government securities	8.8		—		8.8		—
Equity securities:
Global equity common trust funds ⁽¹⁾ ⁽³⁾	89.0		13.6		75.4		—
Alternative investments:
Commingled global fund allocations ⁽¹⁾ ⁽⁴⁾	45.4		22.8		22.6		—
Other:
Short-term investments ⁽⁵⁾	71.7		14.2		57.5		—
Other	1.0		—		—		1.0
Total	$	442.7	$	63.8	$	377.9	$	1.0

⁽¹⁾

Common/commingled trust funds are similar to mutual funds, with a daily net asset value per share measured by the fund sponsor and used as the basis for current transactions. These investments, however, are not registered with the U.S. Securities and Exchange Commission and participation is not open to the public. The funds are valued at the net asset value per share multiplied by the number of shares held as of the measurement date.


⁽²⁾	This class represents investments in actively managed common trust funds that invest in a variety of fixed income investments, which may include corporate bonds, both U.S. and non-U.S. municipal securities, interest rate swaps, options and futures.


⁽³⁾	This class represents investments in actively managed common trust funds that invest primarily in equity securities, which may include common stocks, options and futures.


⁽⁴⁾	This class represents investments in actively managed common trust funds with investments in both equity and debt securities. The investments may include common stock, corporate bonds, U.S. and non-U.S. municipal securities, interest rate swaps, options and futures.


⁽⁵⁾	Short-term investments are valued at $1.00/unit, which approximates fair value. Amounts are generally invested in actively managed common trust funds or interest-bearing accounts.

Our domestic pension plans participate in a securities lending program through J.P. Morgan Chase Bank, National Association. Securities loaned are required to be fully collateralized by cash or other securities. The gross collateral and the related liability to return collateral amounted to $2.9 and $5.5 at December 31, 2016 and 2015, respectively, and have been included within Level 2 of the fair value hierarchy in the tables above.

The following table summarizes changes in the fair value of Level 3 assets for the years ended December 31, 2016 and 2015:



	Global Equity Common Trust Funds			Commingled Global Fund Allocations		Fixed Income Common Trust Funds		Other			Total
Balance at December 31, 2014	$	4.9		$	—	$	—	$	5.2		$	10.1
Spin-Off of SPX FLOW	—			—		—		(4.1		)	(4.1		)
Transfer from Level 3 to Level 2 assets	(4.9		)	—		—		—			(4.9		)
Sales	—			—		—		(0.1		)	(0.1		)
Balance at December 31, 2015	—			—		—		1.0			1.0
Transfer from Level 3 to Level 2 assets	—			—		—		—			—
Sales	—			—		—		—			—
Balance at December 31, 2016	$	—		$	—	$	—	$	1.0		$	1.0

Employer Contributions — We currently fund U.S. pension plans in amounts equal to the minimum funding requirements of the Employee Retirement Income Security Act of 1974, plus additional amounts that may be approved from time to time. During 2016, we made no contributions to our qualified domestic pension plans, and direct benefit payments of $10.0 to our non-qualified domestic pension plans. In 2017, we do not expect to make any minimum required funding contributions to our qualified domestic pension plans and expect to make direct benefit payments of $6.1 to our non-qualified domestic pension plans.

In 2016, we made contributions of $0.5 to our foreign pension plans. In 2017, we expect to make contributions of $2.9 to our foreign pension plans.

Estimated Future Benefit Payments — Following is a summary, as of December 31, 2016, of the estimated future benefit payments for our pension plans in each of the next five fiscal years and in the aggregate for five fiscal years thereafter. Benefit payments are paid from plan assets or directly by us for our non-funded plans. The expected benefit payments are estimated based on the same assumptions used at December 31, 2016 to measure our obligations and include benefits attributable to estimated future employee service.

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

	Domestic Pension Benefits		Foreign Pension Benefits
2017	$	23.2	$	3.8
2018	23.2		4.4
2019	22.3		5.1
2020	23.5		4.9
2021	23.4		5.0
Subsequent five years	113.7		31.5

Obligations and Funded Status — The funded status of our pension plans is dependent upon many factors, including returns on invested assets and the level of market interest rates. The combined unfunded status of our pension plans as of December 31, 2016 has decreased since December 31, 2015, primarily as a result of the employer contributions to fund lump-sum payments relating to the SIARP, which is an unfunded plan. Our non-funded pension plans account for $72.3 of the current underfunded status, as these plans are not required to be funded. The following tables show the domestic and foreign pension plans’ funded status and amounts recognized in our consolidated balance sheets:



	Domestic Pension Plans						Foreign Pension Plans
	2016			2015			2016			2015
Change in projected benefit obligation:
Projected benefit obligation — beginning of year	$	371.1		$	455.3		$	155.7		$	239.6
Divestiture of Balcke Dürr ⁽¹⁾	—			—			(6.7		)	—
Spin-Off of SPX FLOW ⁽²⁾	—			(64.5		)	—			(60.1		)
Service cost	0.4			2.5			—			1.3
Interest cost	13.9			16.5			5.6			7.7
Actuarial (gains) losses	9.5			(9.2		)	27.4			(6.1		)
Settlements ⁽³⁾	(36.4		)	(6.0		)	—			—
Curtailment gain ⁽⁴⁾	—			(5.1		)	—			—
Plan amendment	—			(0.9		)	—			—
Benefits paid	(10.4		)	(17.5		)	(6.4		)	(12.1		)
Foreign exchange and other	—			—			(18.0		)	(14.6		)
Projected benefit obligation — end of year	$	348.1		$	371.1		$	157.6		$	155.7

___________________________________________________________________


⁽¹⁾	Represents the transfer of Balcke Dürr’s pension liabilities as a result of the sale.


⁽²⁾	Represents the transfer to SPX FLOW of the “Top Management Plan” obligation related to SPX FLOW’s executive officers and the impact of transferring foreign defined benefit plans sponsored by SPX FLOW.


⁽³⁾	Amount in 2016 includes settlement payments of $27.9 in connection with lump-sum payment actions for the U.S. Plan and the SIARP.


⁽⁴⁾	Represents a curtailment gain recorded during the third quarter of 2015 in connection with the amendment of the U.S. Plan and SIARP previously noted.



	Domestic Pension Plans						Foreign Pension Plans
	2016			2015			2016			2015
Change in plan assets:
Fair value of plan assets — beginning of year	$	279.2		$	305.7		$	163.5		$	186.7
Actual return on plan assets	19.5			(15.3		)	25.6			(0.8		)
Contributions (employer and employee)	10.0			12.3			0.5			5.5
Settlements	(36.4		)	(6.0		)	—			—
Benefits paid	(10.4		)	(17.5		)	(6.1		)	(9.1		)
Foreign exchange and other	—			—			(20.2		)	(14.7		)
Spin-Off of SPX FLOW	—			—			—			(4.1		)
Fair value of plan assets — end of year	$	261.9		$	279.2		$	163.3		$	163.5
Funded status at year-end	(86.2		)	(91.9		)	5.7			7.8
Amounts recognized in the consolidated balance sheets consist of:
Other assets	$	—		$	—		$	6.3		$	15.2
Liabilities of discontinued operations - current	—			—			—			(0.3		)
Accrued expenses	(5.9		)	(9.6		)	—			—
Liabilities of discontinued operations - non current	—			—			—			(6.9		)
Other long-term liabilities	(80.3		)	(82.3		)	(0.6		)	(0.2		)
Net amount recognized	$	(86.2	)	$	(91.9	)	$	5.7		$	7.8
Amount recognized in accumulated other comprehensive income (pre-tax) consists of — net prior service credits	$	(0.7	)	$	(0.9	)	$	—		$	—

The following is information about our pension plans that had accumulated benefit obligations in excess of the fair value of their plan assets at December 31, 2016 and 2015:



	Domestic Pension Plans				Foreign Pension Plans
	2016		2015		2016		2015
Projected benefit obligation	$	348.1	$	371.1	$	43.8	$	7.4
Accumulated benefit obligation	347.9		370.8		43.8		7.4
Fair value of plan assets	261.9		279.2		43.2		—

The accumulated benefit obligation for all domestic and foreign pension plans was $347.9 and $157.6, respectively, at December 31, 2016 and $370.8 and $155.7, respectively, at December 31, 2015.

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

Domestic Pension Plans



	Year ended December 31,
	2016			2015			2014
Service cost	$	0.4		$	2.5		$	7.1
Interest cost	13.9			16.5			19.9
Expected return on plan assets	(12.9		)	(18.0		)	(19.5		)
Amortization of unrecognized prior service credits	(0.2		)	(0.1		)	—
Recognized net actuarial losses ⁽¹⁾	3.2			18.9			50.9
Total net periodic pension benefit expense	$	4.4		$	19.8		$	58.4

___________________________________________________________________

⁽¹⁾

Consists primarily of our reported actuarial (gains) losses, the difference between actual and expected returns on plan assets, settlement gains (losses), and curtailment gains. The actuarial losses for 2016 included $1.8 related to the lump-sum payment actions that took place during the second quarter of the year. The actuarial losses for 2015 included a charge of $11.4 and a curtailment gain of $5.1 related to the freeze of all benefits for non-union participants of the U.S. Plan and the SIARP during the third quarter of the year. The actuarial losses for 2014 included a settlement loss and an actuarial loss of $4.6 and $14.8, respectively, related to a lump-sum payment action during the first quarter of the year, as well as an increase of a settlement gain of $4.8 related to the partial annuitization of the U.S. Plan in 2013.

Foreign Pension Plans



	Year ended December 31,
	2016			2015			2014
Service cost	$	—		$	1.3		$	2.6
Interest cost	5.6			7.7			13.8
Expected return on plan assets	(6.6		)	(9.7		)	(17.6		)
Settlement loss ⁽¹⁾	—			—			15.0
Recognized net actuarial losses ⁽²⁾	8.2			3.8			25.0
Total net periodic pension benefit expense	7.2			3.1			38.8
Less: Net periodic pension expense of discontinued operations	(0.2		)	(2.2		)	(11.9		)
Net periodic pension benefit expense of continuing operations	$	7.0		$	0.9		$	26.9

___________________________________________________________________


⁽¹⁾	Includes the settlement loss recorded in connection with the transfer of the pension obligation for the retirees of the U.K. Plan to Just Retirement.


⁽²⁾	Consists of our reported actuarial losses and the difference between actual and expected returns on plan assets.

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



	Year ended December 31,
	2016		2015		2014
Domestic Pension Plans
Weighted-average actuarial assumptions used in determining net periodic pension expense:
Discount rate	4.06	%	4.09	%	4.54	%
Rate of increase in compensation levels	3.75	%	3.75	%	3.75	%
Expected long-term rate of return on assets	5.00	%	5.75	%	6.76	%
Weighted-average actuarial assumptions used in determining year-end benefit obligations:
Discount rate	3.98	%	4.24	%	3.90	%
Rate of increase in compensation levels	3.75	%	3.75	%	3.75	%
Foreign Pension Plans
Weighted-average actuarial assumptions used in determining net periodic pension expense:
Discount rate	3.82	%	3.68	%	4.23	%
Rate of increase in compensation levels	N/A		4.00	%	3.92	%
Expected long-term rate of return on assets	4.57	%	5.81	%	5.78	%
Weighted-average actuarial assumptions used in determining year-end benefit obligations:
Discount rate	2.97	%	3.82	%	3.31	%
Rate of increase in compensation levels	N/A		4.00	%	3.87	%

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

Postretirement Benefit Plans

Employer Contributions and Future Benefit Payments — Our postretirement medical plans are unfunded and have no plan assets, but are instead funded by us on a pay-as-you-go basis in the form of direct benefit payments or policy premium payments. In 2016, we made benefit payments of $10.3 to our postretirement benefit plans. Following is a summary, as of December 31, 2016, of the estimated future benefit payments for our postretirement plans in each of the next five fiscal years and in the aggregate for five fiscal years thereafter. The expected benefit payments are estimated based on the same assumptions used at December 31, 2016 to measure our obligations and include benefits attributable to estimated future employee service.



	Postretirement Payments
2017	$	11.9
2018	11.2
2019	10.6
2020	9.8
2021	9.1
Subsequent five years	36.0

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



	Postretirement Benefits
	2016			2015
Change in accumulated postretirement benefit obligation:
Accumulated postretirement benefit obligation — beginning of year	$	120.8		$	130.2
Service cost	—			0.1
Interest cost	4.2			4.4
Actuarial (gains) losses	0.6			(4.0		)
Benefits paid	(10.3		)	(9.4		)
Settlement gain	—			(1.8		)
Transfer to SPX FLOW of the life insurance obligations related to SPX FLOW executive officers	—			(3.2		)
Plan amendment and other	—			4.5
Accumulated postretirement benefit obligation — end of year	$	115.3		$	120.8
Funded status at year-end	$	(115.3	)	$	(120.8	)
Amounts recognized in the consolidated balance sheets consist of:
Accrued expenses	$	(11.7	)	$	(12.0	)
Other long-term liabilities	(103.6		)	(108.8		)
Net amount recognized	$	(115.3	)	$	(120.8	)
Amount recognized in accumulated other comprehensive income (pre-tax) consists of — net prior service credits	$	(5.9	)	$	(6.7	)

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



	Year ended December 31,
	2016			2015			2014
Service cost	$	—		$	0.1		$	0.4
Interest cost	4.2			4.4			5.3
Amortization of unrecognized prior service credits	(0.8		)	(0.8		)	(0.3		)
Settlement gain	—			(1.8		)	—
Recognized net actuarial (gains) losses	0.6			(4.0		)	14.2
Net periodic postretirement benefit expense (income)	$	4.0		$	(2.1	)	$	19.6

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



	Year ended December 31,
	2016		2015		2014
Assumed health care cost trend rates:
Health care cost trend rate for next year	7.50	%	6.60	%	6.79	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	5.00	%	5.00	%	5.00	%
Year that the rate reaches the ultimate trend rate	2027		2024		2024
Discount rate used in determining net periodic postretirement benefit expense	3.88	%	3.53	%	4.23	%
Discount rate used in determining year-end postretirement benefit obligation	3.69	%	3.88	%	3.55	%

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

Assumed health care cost trend rates can have a significant effect on the amounts reported for the postretirement benefit plans. Including the effects of recognizing actuarial gains and losses into earnings, a one percentage point increase in the assumed health care cost trend rate would have increased our estimated 2016 postretirement expense by $5.5, and a one percentage point decrease in the assumed health care cost trend rate would have decreased our estimated 2016 postretirement expense by $4.9.

Defined Contribution Retirement Plans

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

Under the DC Plan, we contributed 0.605, 0.434 and 0.167 shares of our common stock to employee accounts in 2016, 2015 and 2014, respectively. Compensation expense is recorded based on the market value of shares as the shares are contributed to employee accounts. We recorded $8.8 in 2016, $10.2 in 2015 and $10.3 in 2014 as compensation expense related to the matching contribution.

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

We also maintain a Supplemental Retirement Savings Plan (“SRSP”), which permits certain members of our senior management and executive groups to defer eligible compensation in excess of the amounts allowed under the DC Plan. We match a portion of participating employees’ deferrals to the extent allowable under the SRSP provisions. The matching contributions vest with the participant immediately. Our funding of the participants’ deferrals and our matching contributions are held in certain mutual funds (as allowed under the SRSP), as directed by the participant. The fair values of these assets, which totaled $19.1 and $20.0 at December 31, 2016 and 2015, respectively, are based on quoted prices in active markets for identical assets (Level 1). In addition, the assets under the SRSP are available to the general creditors in the event of our bankruptcy and, thus, are maintained on our consolidated balance sheets within other non-current assets, with a corresponding amount in other long-term liabilities for our obligation to the participants. Lastly, these assets are accounted for as trading securities. During 2016, 2015 and 2014, we recorded compensation expense of $0.7, $0.7 and $0.6, respectively, relating to our matching contributions to the SRSP.

Income Taxes

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Income Taxes

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



	Year ended December 31,
	2016			2015			2014
Income (loss) from continuing operations:
United States	$	14.0		$	(14.2	)	$	366.2
Foreign	25.4			(140.1		)	(114.1		)
	$	39.4		$	(154.3	)	$	252.1
(Provision for) benefit from income taxes:
Current:
United States	$	(4.3	)	$	10.9		$	(200.1	)
Foreign	(4.8		)	(3.3		)	(16.5		)
Total current	(9.1		)	7.6			(216.6		)
Deferred and other:
United States	0.2			(10.7		)	95.7
Foreign	(0.2		)	5.8			(16.6		)
Total deferred and other	—			(4.9		)	79.1
Total (provision) benefit	$	(9.1	)	$	2.7		$	(137.5	)

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



	Year ended December 31,
	2016		2015		2014
Tax at U.S. federal statutory rate	35.0	%	35.0	%	35.0	%
State and local taxes, net of U.S. federal benefit	5.0	%	(0.1	)%	2.7	%
U.S. credits and exemptions	(12.9	)%	1.5	%	(1.3	)%
Foreign earnings/losses taxed at lower rates	(5.9	)%	(9.0	)%	9.2	%
Audit settlements with taxing authorities	—	%	0.7	%	(4.7	)%
Adjustments to uncertain tax positions	(1.9	)%	(5.4	)%	(1.7	)%
Changes in valuation allowance	17.4	%	(18.8	)%	13.4	%
Tax on distributions of foreign earnings	0.7	%	(0.2	)%	4.5	%
Goodwill impairment and basis adjustments	—	%	(2.4	)%	(2.4	)%
Disposition of dry cooling business	(15.6	)%	—	%	—	%
Other	1.3	%	0.4	%	(0.2	)%
	23.1	%	1.7	%	54.5	%

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



	As of December 31,
	2016			2015 ⁽¹⁾
Deferred tax assets:
NOL and credit carryforwards	$	78.2		$	85.3
Pension, other postretirement and postemployment benefits	77.2			80.3
Payroll and compensation	22.8			28.8
Legal, environmental and self-insurance accruals	35.1			40.6
Working capital accruals	16.4			15.8
Other	20.7			21.1
Total deferred tax assets	250.4			271.9
Valuation allowance	(75.8		)	(70.9		)
Net deferred tax assets	174.6			201.0
Deferred tax liabilities:
Intangible assets recorded in acquisitions	68.3			81.6
Basis difference in affiliates	10.6			10.3
Accelerated depreciation	40.6			38.9
Other	6.6			23.6
Total deferred tax liabilities	126.1			154.4
	$	48.5		$	46.6


⁽¹⁾	Represents deferred tax assets and liabilities related to both continuing and discontinued operations, with net deferred tax assets associated with discontinued operations totaling $4.1.

General Matters

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

At December 31, 2016, we had the following tax loss carryforwards available: state tax loss carryforwards of approximately $422.0 and tax losses of various foreign jurisdictions of approximately $189.0. We also had federal and state tax credit carryforwards of $7.0. Of these amounts, $7.0 expire in 2017 and $423.0 expire at various times between 2017 and 2036. The remaining carryforwards have no expiration date.

Realization of deferred tax assets, including those associated with net operating loss and credit carryforwards, is dependent upon generating sufficient taxable income in the appropriate tax jurisdiction. We believe that it is more likely than not that we may not realize the benefit of certain of these deferred tax assets and, accordingly, have established a valuation allowance against these deferred tax assets. Although realization is not assured for the remaining deferred tax assets, we believe it is more likely than not that the deferred tax assets will be realized through future taxable earnings or tax planning strategies. However, deferred tax assets could be reduced in the near term if our estimates of taxable income are significantly reduced or tax planning strategies are no longer viable. The valuation allowance increased by $4.9 in 2016 and decreased by $82.0 in 2015. The 2016 increase was driven by the losses generated during the year for our large power projects in South Africa, offset by the impact of the sale of our dry cooling business. The most significant driver of the 2015 decrease was the impact of the Spin-Off, partially offset by the losses generated during the year for our large power projects in South Africa.

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

Undistributed Foreign Earnings

In general, it is our practice and intention to reinvest the earnings of our non-U.S. subsidiaries in those operations. As of December 31, 2016, we had not recorded a provision for U.S. or foreign withholding taxes on approximately $26.0 of the excess of the amount for financial reporting over the tax basis of investments in foreign subsidiaries that are essentially permanent in duration. Generally, such amounts become subject to U.S. taxation upon the remittance of dividends and under certain other circumstances. It is not practicable to estimate the amount of a deferred tax liability related to the undistributed earnings of these foreign subsidiaries, in the event that these earnings are no longer considered to be indefinitely reinvested, due to the hypothetical nature of the calculation.

Unrecognized Tax Benefits

As of December 31, 2016, we had gross and net unrecognized tax benefits of $37.9 and $25.2, respectively. Of these net unrecognized tax benefits, $20.3 would impact our effective tax rate from continuing operations if recognized. Similarly, at December 31, 2015 and 2014, we had gross unrecognized tax benefits of $48.8 (net unrecognized tax benefits of $30.1) and $63.3 (net unrecognized tax benefits of $33.9), respectively.

We classify interest and penalties related to unrecognized tax benefits as a component of our income tax (provision) benefit. As of December 31, 2016, gross accrued interest totaled $3.7 (net accrued interest of $2.4), while the related amounts as of December 31, 2015 and 2014 were $5.4 (net accrued interest of $4.5) and $5.9 (net accrued interest of $4.9), respectively. Our income tax (provision) benefit for the years ended December 31, 2016, 2015 and 2014 included gross interest income of $1.8, $0.2 and $0.9, respectively, resulting from a reduction in our liability for uncertain tax positions. As of December 31, 2016, 2015 and 2014, we had no accrual for penalties included in our unrecognized tax benefits. Our income tax (provision) benefit for the year ended December 31, 2014 included a benefit of $7.1 for the reversal of penalties previously accrued, resulting primarily from audit settlements during the year. No amount for penalties was included in the income tax (provision) benefit for the years ended December 31, 2016 or December 31, 2015.

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 including deemed income inclusions, transfer pricing and various state matters.

The aggregate changes in the balance of unrecognized tax benefits for the years ended December 31, 2016, 2015 and 2014 were as follows:



	Year ended December 31,
	2016			2015			2014
Unrecognized tax benefit — opening balance	$	48.8		$	63.3		$	128.4
Gross increases — tax positions in prior period	3.6			14.1			3.7
Gross decreases — tax positions in prior period	(9.3		)	(7.6		)	(36.9		)
Gross increases — tax positions in current period	0.7			11.3			11.7
Settlements	—			—			(28.2		)
Lapse of statute of limitations	(5.9		)	(4.4		)	(14.7		)
Gross decreases — Spin-Off	—			(26.7		)	—
Change due to foreign currency exchange rates	—			(1.2		)	(0.7		)
Unrecognized tax benefit — ending balance	$	37.9		$	48.8		$	63.3

Other Tax Matters

During 2016, our income tax provision was impacted most significantly by (i) the $0.3 of income taxes provided in connection with the $18.4 gain that was recorded on the sale of the dry cooling business, (ii) $13.7 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, and (iii) $2.4 of tax benefits related to various audit settlements, statute expirations, and other adjustments to liabilities for uncertain tax positions.

During 2015, our income tax provision was impacted by (i) the effects of approximately $139.0 of pre-tax losses generated during the year (the majority of which relate to our large projects in South Africa) for which no tax benefit was recognized, as future realization of any such tax benefit is considered unlikely, (ii) $3.7 of foreign taxes incurred during the year related to the Spin-Off and the reorganization actions undertaken to facilitate the Spin-Off, and (iii) $3.4 of taxes related to various audit settlements, statute expirations, and other adjustments to liabilities for uncertain tax positions.

During 2014, our income tax provision was impacted by the U.S. income taxes provided in connection with the $491.2 gain on the sale of our interest in EGS and by the following income tax charges: (i) $33.8 related to net increases in valuation allowances recorded against certain foreign deferred income tax assets and (ii) $11.4 related to the repatriation of certain earnings of our non-U.S. subsidiaries. In addition, our income tax provision was impacted unfavorably by a low effective tax rate on foreign losses. The impact of these items was partially offset by the following income tax benefits: (i) $16.2 of tax benefits related to various audit settlements, statute expirations and other adjustments to liabilities for uncertain tax positions, with the most notable being the closure of our U.S. tax examination for the years 2008 through 2011, and (ii) $6.4 of tax benefits related to a loss on an investment in a foreign subsidiary.

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

We have filed our federal income tax returns for the 2013, 2014, and 2015 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. We believe any uncertain tax positions related to these examinations have been adequately provided for.

We have various foreign income tax returns under examination. The most significant of these are in Germany for the 2010 through 2014 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, the timing of the ultimate resolution and any payments that may be required for the above matters cannot be determined at this time.

Indebtedness

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Indebtedness

The following summarizes our debt activity (both current and non-current) for the year ended December 31, 2016:



	December 31, 2015		Borrowings		Repayments			Other ⁽⁴⁾		December 31, 2016
Revolving loans	$	—	$	56.2	$	(56.2	)	$	—	$	—
Term loans ⁽¹⁾	348.0		—		(8.8		)	0.4		339.6
Trade receivables financing arrangement ⁽²⁾	—		72.0		(72.0		)	—		—
Other indebtedness ⁽³⁾	23.8		33.5		(43.6		)	2.9		16.6
Total debt	371.8		$	161.7	$	(180.6	)	$	3.3	356.2
Less: short-term debt	22.1									14.8
Less: current maturities of long-term debt	9.1									17.9
Total long-term debt	$	340.6								$	323.5

_____________________________________________________________


⁽¹⁾	The term loan is repayable in quarterly installments of 5.0% annually, beginning in the third fiscal quarter of 2016. The remaining balance is repayable in full on September 24, 2020. Balances are net of unamortized debt issuance costs of $1.6 and $2.0 at December 31, 2016 and December 31, 2015, respectively. See Note 3 for additional details.


⁽²⁾	Under this arrangement, we can borrow, on a continuous basis, up to $50.0, as available. At December 31, 2016, we had $39.9 of available borrowing capacity under this facility.

⁽³⁾

Primarily included capital lease obligations of $1.7 and $1.7, balances under purchase card programs of $3.9 and $4.8, borrowings under a line of credit in South Africa of $10.2 and $0.0, and borrowings under a line of credit in China of $0.0 and $17.3, at December 31, 2016 and 2015, respectively. The purchase card program allows for payment beyond the normal payment terms for goods and services acquired under the program. As this arrangement extends the payment of these purchases beyond their normal payment terms through third-party lending institutions, we have classified these amounts as short-term debt.


⁽⁴⁾	“Other” primarily includes debt assumed, foreign currency translation on any debt instruments denominated in currencies other than the U.S. dollar, and the impact of amortization of debt issuance costs associated with the term loan.

Maturities of long-term debt payable during each of the five years subsequent to December 31, 2016 are $17.9, $18.0, $17.9, $289.0 and $0.2, respectively.

Senior Credit Facilities

In connection with the Spin-Off, we entered into a credit agreement (the “Credit Agreement”), dated September 1, 2015, with a syndicate of lenders that provides for committed senior secured financing in an aggregate amount of $1,000.0, consisting of the following (each with a final maturity of September 24, 2020):


•	A term loan facility in an aggregate principle amount of $350.0;


•	A domestic revolving credit facility, available for loans and letters of credit, in an aggregate principal amount up to $200.0;


•	A global revolving credit facility, available for loans in Euros, GBP and other currencies, in an aggregate principal amount up to the equivalent of $150.0;


•	A participation foreign credit instrument facility, available for performance letters of credit and guarantees, in an aggregate principal amount up to the equivalent of $175.0; and


•	A bilateral foreign credit instrument facility, available for performance letters of credit and guarantees, in an aggregate principal amount up to the equivalent of $125.0.

The term loan under the Credit Agreement is repayable in quarterly installments (with annual aggregate repayments, as a percentage of the initial principal amount of $350.0, of 5.0%, beginning in the third calendar quarter of 2016), with the remaining balance repayable in full on September 24, 2020.

The participation foreign credit instrument facility and the bilateral foreign credit instrument facility originally provided financing of $300.0 and $200.0, respectively. On September 29, 2016, we elected to reduce our participation foreign credit instrument facility commitment and our bilateral foreign credit instrument facility commitment by $125.0, and $75.0, respectively. In connection with the reduction of our foreign credit instrument facility commitments, we recorded a charge of $1.3 to “Loss on early extinguishment of debt” during the third quarter of 2016 associated with the write-off of the unamortized deferred financing fees related to this previously available issuance capacity of $200.0.

We also may seek additional commitments, without consent from the existing lenders, to add an incremental term loan facility and/or increase the commitments in respect of the domestic revolving credit facility, the global revolving credit facility, the participation foreign credit instrument facility and/or the bilateral foreign credit instrument facility by an aggregate principal amount not to exceed (i) $300.0 plus (ii) an unlimited amount so long as, immediately after giving effect thereto, our Consolidated Senior Secured Leverage Ratio (as defined in the Credit Agreement generally as the ratio of consolidated total debt (excluding the face amount undrawn letters of credit, bank undertakings, or analogous instruments and net of cash and cash equivalents in excess of $50.0) at the date of determination secured by liens to consolidated adjusted EBITDA for the four fiscal quarters ended most recently before such date) does not exceed 2.75:1.00 plus (iii) an amount equal to all voluntary prepayments of the term loan facility and voluntary prepayments accompanied by permanent commitment reductions of revolving credit facilities and foreign credit instrument facilities.

We are the borrower under each of the above facilities, and certain of our foreign subsidiaries are (and we may designate other foreign subsidiaries to be) borrowers under the global revolving credit facility and the foreign credit instrument facilities. All borrowings and other extensions of credit under the Credit Agreement are subject to the satisfaction of customary conditions, including absence of defaults and accuracy in material respects of representations and warranties.

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

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



Consolidated Leverage Ratio	Domestic Revolving Commitment Fee		Global Revolving Commitment Fee		Letter of Credit Fee		Foreign Credit Commitment Fee		Foreign Credit Instrument Fee		LIBOR Rate Loans		ABR Loans
Greater than or equal to 3.00 to 1.0	0.350	%	0.350	%	2.000	%	0.350	%	1.250	%	2.000	%	1.000	%
Between 2.00 to 1.0 and 3.00 to 1.0	0.300	%	0.300	%	1.750	%	0.300	%	1.000	%	1.750	%	0.750	%
Between 1.50 to 1.0 and 2.00 to 1.0	0.275	%	0.275	%	1.500	%	0.275	%	0.875	%	1.500	%	0.500	%
Between 1.00 to 1.0 and 1.50 to 1.0	0.250	%	0.250	%	1.375	%	0.250	%	0.800	%	1.375	%	0.375	%
Less than 1.00 to 1.0	0.225	%	0.225	%	1.250	%	0.225	%	0.750	%	1.250	%	0.250	%

The weighted-average interest rate of outstanding borrowings under our senior credit facilities was approximately 2.5% at December 31, 2016.

The fees and bilateral foreign credit commitments are as specified above for foreign credit commitments unless otherwise agreed with the bilateral foreign issuing lender. We also pay fronting fees on the outstanding amounts of letters of credit and foreign credit instruments (in the participation facility) at the rates of 0.125% per annum and 0.25% per annum, respectively.

The Credit Agreement requires mandatory prepayments in amounts equal to the net proceeds from the sale or other disposition of, including from any casualty to, or governmental taking of, property in excess of specified values (other than in the ordinary course of business and subject to other exceptions) by SPX or our subsidiaries. Mandatory prepayments will be applied to repay, first, amounts outstanding under any term loans and, then, amounts (or cash collateralize letters of credit) outstanding under the global revolving credit facility and the domestic revolving credit facility (without reducing the commitments thereunder). No prepayment is required generally to the extent the net proceeds are reinvested (or committed to be reinvested) in permitted acquisitions, permitted investments or assets to be used in our business within 360 days (and if committed to be reinvested, actually reinvested within 180 days after the end of such 360-day period) of the receipt of such proceeds.

We may voluntarily prepay loans under the Credit Agreement, in whole or in part, without premium or penalty. Any voluntary prepayment of loans will be subject to reimbursement of the lenders’ breakage costs in the case of a prepayment of Eurodollar rate borrowings other than on the last day of the relevant interest period. Indebtedness under the Credit Agreement is guaranteed by:


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


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

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

The Credit Agreement requires that SPX maintain:


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


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

The Credit Agreement also contains covenants that, among other things, restrict our ability to incur additional indebtedness, grant liens, make investments, loans, guarantees, or advances, make restricted junior payments, including dividends, redemptions of capital stock, and voluntary prepayments or repurchase of certain other indebtedness, engage in mergers, acquisitions or sales of assets, enter into sale and leaseback transactions, or engage in certain transactions with affiliates, and otherwise restrict certain corporate activities. The Credit Agreement contains customary representations, warranties, affirmative covenants and events of default.

We are permitted under the Credit Agreement to repurchase our capital stock and pay cash dividends in an unlimited amount if our Consolidated Leverage Ratio is (after giving pro forma effect to such payments) less than 2.50 to 1.00. If our Consolidated Leverage Ratio is (after giving pro forma effect to such payments) greater than or equal to 2.50 to 1.00, the aggregate amount of such repurchases and dividend declarations cannot exceed (A) $50.0 in any fiscal year plus (B) an additional amount for all such repurchases and dividend declarations made after the Effective Date equal to the sum of (i) $100.0 plus (ii) a positive amount equal to 50% of cumulative Consolidated Net Income (as defined in the Credit Agreement generally as consolidated net income subject to certain adjustments solely for the purposes of determining this basket) during the period from the Effective Date to the end of the most recent fiscal quarter preceding the date of such repurchase or dividend declaration for which financial statements have been (or were required to be) delivered (or, in case such Consolidated Net Income is a deficit, minus 100% of such deficit) plus (iii) certain other amounts.

At December 31, 2016, we had $313.9 of available borrowing capacity under our revolving credit facilities after giving effect to $36.1 reserved for outstanding letters of credit. In addition, at December 31, 2016, we had $98.6 of available issuance capacity under our foreign credit instrument facilities after giving effect to $201.4 reserved for outstanding letters of credit.

At December 31, 2016, we were in compliance with all covenants of our Credit Agreement.

Other Borrowings and Financing Activities

Certain of our businesses purchase goods and services under purchase card programs allowing for payment beyond their normal payment terms. As of December 31, 2016 and 2015, the participating businesses had $3.9 and $4.8, respectively, outstanding under these arrangements.

We are party to a trade receivables financing agreement, whereby we can borrow, on a continuous basis, up to $50.0. Availability of funds may fluctuate over time given changes in eligible receivable balances, but will not exceed the $50.0 program limit. The facility contains representations, warranties, covenants and indemnities customary for facilities of this type. The facility does not contain any covenants that we view as materially constraining to the activities of our business.

In addition, we maintain line of credit facilities in China, India, and South Africa available to fund operations in these regions, when necessary. At December 31, 2016, the aggregate amount of borrowing capacity under these facilities was $16.1, while the aggregate borrowings outstanding were $11.0.

Derivative Financial Instruments	12 Months Ended
Derivative Financial Instruments	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Interest Rate Swaps During the second quarter of 2016, we entered into interest rate swap agreements (“Swaps”) to hedge the interest rate risk on our variable rate term loan. These Swaps, which we designate and account for as cash flow hedges, have effective dates beginning in January 2017 and maturities through September 2020 and effectively convert 50% of the borrowing under the variable rate term loan to a fixed rate of 1.2895% plus the applicable margin. These are amortizing Swaps; therefore, the outstanding notional value is scheduled to decline commensurate with the scheduled maturities of the term loan. As of December 31, 2016, the aggregate notional amounts of the Swaps was $170.8 and the unrealized gain, net of tax, recorded in accumulated other comprehensive income (“AOCI”) was $0.7. In addition, we have recorded a long-term asset of $1.7 to recognize the fair value of these Swaps. Currency Forward Contracts and Currency Forward Embedded Derivatives We manufacture and sell our products in a number of countries and, as a result, are exposed to movements in foreign currency exchange rates. Our objective is to preserve the economic value of non-functional currency-denominated cash flows and to minimize the impact of changes as a result of currency fluctuations. Our principal currency exposures relate to the Euro, South African Rand and GBP. From time to time, we enter into forward contracts to manage the exposure on contracts with forecasted transactions denominated in non-functional currencies and to manage the risk of transaction gains and losses associated with assets/liabilities denominated in currencies other than the functional currency of certain subsidiaries (“FX forward contracts”). In addition, some of our contracts contain currency forward embedded derivatives (“FX embedded derivatives”), because the currency of exchange is not “clearly and closely” related to the functional currency of either party to the transaction. Certain of our FX forward contracts are designated as cash flow hedges. To the extent these derivatives are effective in offsetting the variability of the hedged cash flows, changes in the derivatives’ fair value are not included in current earnings, but are included in 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. In addition, if the forecasted transaction is no longer probable, the cumulative change in the derivatives’ fair value is recorded as a component of “Other income (expense), net” in the period in which the transaction is no longer considered probable of occurring. To the extent a previously designated hedging transaction is no longer an effective hedge, any ineffectiveness measured in the hedging relationship is recorded in earnings in the period in which it occurs. We had FX forward contracts with an aggregate notional amount of $8.8 and $111.2 outstanding as of December 31, 2016 and 2015, respectively, with all of the $8.8 scheduled to mature in 2017. We also had FX embedded derivatives with an aggregate notional amount of $0.9 and $99.4 at December 31, 2016 and 2015, respectively, with all of the $0.9 scheduled to mature in 2017. 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 gains (losses), net of taxes, recorded in AOCI related to FX forward contracts were $0.0 and $(0.6) as of December 31, 2016 and 2015, respectively. The net loss recorded in “Other income (expense), net” related to FX forward contracts and embedded derivatives totaled $6.3 in 2016, $1.2 in 2015 and $2.7 in 2014. Commodity Contracts From time to time, we enter into commodity contracts to manage the exposure on forecasted purchases of commodity raw materials. The outstanding notional amounts of commodity contracts were 4.1 and 4.2 pounds of copper at December 31, 2016 and 2015, respectively. We designate and account for these contracts as cash flow hedges and, to the extent these commodity contracts are effective in offsetting the variability of the forecasted purchases, the change in fair value is included in AOCI. We reclassify AOCI associated with our commodity contracts to cost of products sold when the forecasted transaction impacts earnings. As of December 31, 2016 and 2015, the fair value of these contracts was $1.1 (current asset) and $1.7 (current liability), respectively. The unrealized gain (loss), net of taxes, recorded in AOCI was $0.8 and $(1.2) as of December 31, 2016 and 2015, respectively. We anticipate reclassifying the unrealized gain as of December 31, 2016 to income over the next 12 months. Concentrations of Credit Risk Financial instruments that potentially subject us to significant concentrations of credit risk consist of cash and equivalents, trade accounts receivable, and interest rate swap, foreign currency forward, and commodity contracts. These financial instruments, other than trade accounts receivable, are placed with high-quality financial institutions throughout the world. We periodically evaluate the credit standing of these financial institutions. We maintain cash levels in bank accounts that, at times, may exceed federally-insured limits. We have not experienced, and believe we are not exposed to significant risk of, loss in these accounts. We have credit loss exposure in the event of nonperformance by counterparties to the above financial instruments, but have no other off-balance-sheet credit risk of accounting loss. We anticipate, however, that counterparties will be able to fully satisfy their obligations under the contracts. We do not obtain collateral or other security to support financial instruments subject to credit risk, but we do monitor the credit standing of counterparties. Concentrations of credit risk arising from trade accounts receivable are due to selling to customers in a particular industry. We mitigate our credit risks by performing ongoing credit evaluations of our customers’ financial conditions and obtaining collateral, advance payments, or other security when appropriate. No one customer, or group of customers that to our knowledge are under common control, accounted for more than 10% of our revenues for any period presented.

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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41620-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5579240-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4D
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624177-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80784-113994

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41641-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5579245-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4H
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624258-113959

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80748-113994

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5708775-113959

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5708773-113959

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5618551-113959

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5580258-113959

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624181-113959

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41638-113959

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Commitments and Contingencies Disclosure [Abstract]

Commitments, Contingent Liabilities and Other Matters

12 Months Ended

Dec. 31, 2016

Commitments, Contingent Liabilities and Other Matters

Leases

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

Operating Leases

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



Year Ending December 31,
2017	$	8.1
2018	6.8
2019	6.3
2020	5.4
2021	3.3
Thereafter	7.8
Total minimum payments	$	37.7

Total operating lease expense, inclusive of rent based on scheduled rent increases and rent holidays recognized on a straight-line basis, was $13.2 in 2016, $13.4 in 2015 and $13.3 in 2014.

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 $653.5 (including $605.6 for asbestos product liability matters) and $590.4 (including $534.4 for asbestos product liability matters) at December 31, 2016 and 2015, respectively. Of these amounts, $621.0 and $552.1 are included in “Other long-term liabilities” within our consolidated balance sheets at December 31, 2016 and 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 years ended December 31, 2016, 2015 and 2014, our payments for asbestos-related matters, net of insurance recoveries, were $5.8, $6.9 and $5.5, 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 a result, 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 $564.4 and $493.3 at December 31, 2016 and 2015, respectively, and included in “Other assets” within our 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 years ended December 31, 2016, 2015, and 2014, we recorded charges of $4.9, $11.2, and $4.6, respectively, as a result of changes in estimates associated with the liabilities and assets related to asbestos product liability matters. Of these charges, $4.2, $8.0 and $3.1 were recorded to “Other income (expense), net” for the years ended December 31, 2016, 2015, and 2014, respectively, and $0.7, $3.2, and $1.5 respectively, to “Gain (loss) on disposition of discontinued operations, net of tax.”

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. During the third quarter of 2015, we gained considerable insight into the path forward for completing these projects, including our remaining scope, the estimated costs for completing such scope, and our expected recoverability of costs from the prime contractors and our subcontractors. In response to this new information, we revised our estimates of revenues, costs and profits associated with the projects. These revisions resulted in an increase in our “Loss from continuing operations before income taxes” for the year ended December 31, 2015 of $95.0, which is comprised of a reduction in revenue of $57.2 and an increase in cost of products sold of $37.8. In addition, these revisions resulted in an increase in our “Net loss” for the year ended December 31, 2015 of $71.2 and an increase in our “Loss per share of common stock” of $1.75 for the same period.

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 December 31, 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 consolidated financial statements.

Noncontrolling Interest in South African Subsidiary

Our South African subsidiary, DBT Technologies (PTY) LTD (“DBT”), has a Black Economic Empowerment shareholder (the “BEE Partner”) that holds a 25.1% noncontrolling interest in DBT. Under the terms of the shareholder agreement between the BEE Partner and SPX Technologies (PTY) LTD (“SPX Technologies”), the BEE Partner had the option to put its ownership interest in DBT to SPX Technologies, the majority shareholder of DBT, at a redemption amount determined in accordance with the terms of the shareholder agreement (the “Put Option”). The BEE Partner notified SPX Technologies of its intention to exercise the Put Option and, on July 6, 2016, an Arbitration Tribunal declared that the BEE Partner was entitled to South African Rand 287.3 in connection with the exercise of the Put Option, having not considered an amount due from the BEE Partner under a promissory note of South African Rand 30.3 held by SPX Technologies. As a result, we have reflected the net redemption amount of South African Rand 257.0 (or $18.5) within “Accrued expenses” on our consolidated balance sheet as of December 31, 2016, with the related offset recorded to “Paid-in capital” and “Accumulated other comprehensive income.” In addition, we reclassified $38.7 from “Noncontrolling Interests” to “Paid-in capital.” Lastly, under the two-class method of calculating earnings per share, we have reflected an adjustment of $18.1 to “Net income (loss) attributable to SPX Corporation common shareholders” for the excess redemption amount of the Put Option (i.e., the increase in the redemption amount during the year ended December 31, 2016 in excess of fair value) in our calculations of basic and diluted earnings per share for the year ended December 31, 2016.

SPX Technologies disagrees with the arbitration determination and will continue to pursue all available legal recourse in this matter.

Beginning in the third quarter of 2016, in connection with our accounting for the redemption of the BEE partner’s ownership interest in DBT, we discontinued allocating earnings/losses of DBT to the BEE Partner within our consolidated financial statements.

Patent Infringement Lawsuit

Our subsidiary, SPX Cooling Technologies, Inc. (“SPXCT”), is a defendant in a legal action brought by Baltimore Aircoil Company (“BAC”) alleging that a SPXCT product infringes United States Patent No. 7,107,782, entitled “Evaporative Heat Exchanger and Method.” BAC filed suit on July 16, 2013 in the United States District Court for the District of Maryland (the “District Court”) seeking monetary damages and injunctive relief.

On November 4, 2016, the jury for the trial in the District Court found in favor of SPXCT. The verdict by the District Court is subject to further judicial processes, including a possible appeal by BAC. We believe that we will ultimately be successful in any future judicial processes; however, to the extent we are not successful, the outcome could have a material adverse effect on our financial position, results of operations, and cash flows.

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 December 31, 2016, we had liabilities for site investigation and/or remediation at 30 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 December 31, 2016, we have been notified that we are potentially responsible and have received other notices of potential liability pursuant to various environmental laws at 22 sites (24 sites at December 31, 2015) at which the liability has not been settled, of which 8 sites (7 sites at December 31, 2015) have been active in the past few years. These laws may impose liability on certain persons that are considered jointly and severally liable for the costs of investigation and remediation of hazardous substances present at these sites, regardless of fault or legality of the original disposal. These persons include the present or former owners or operators of the site and companies that generated, disposed of or arranged for the disposal of hazardous substances at the site. We are considered a “de minimis” potentially responsible party at most of the sites, and we estimate that our aggregate liability, if any, related to these sites is not material to our consolidated financial statements. We conduct extensive environmental due diligence with respect to potential acquisitions, including environmental site assessments and such further testing as we may deem warranted. If an environmental matter is identified, we estimate the cost and either establish a liability, purchase insurance or obtain an indemnity from a financially sound seller; however, in connection with our acquisitions or dispositions, we may assume or retain significant environmental liabilities, some of which we may be unaware. The potential costs related to these environmental matters and the possible impact on future operations are uncertain due in part to the complexity of government laws and regulations and their interpretations, the varying costs and effectiveness of various clean-up technologies, the uncertain level of insurance or other types of recovery, and the questionable level of our responsibility. We record a liability when it is both probable and the amount can be reasonably estimated.

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

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. This insurance may be insufficient or unavailable (e.g., because of insurer insolvency) to protect us against loss exposure.

Executive Agreements

The Board of Directors has approved an employment agreement for our President and Chief Executive Officer. This agreement has an initial term through December 31, 2017 and, thereafter, rolling terms of one year, and specifies the executive’s current compensation, benefits and perquisites, severance entitlements, and other employment rights and responsibilities. The Compensation Committee of the Board of Directors has approved severance benefit agreements for our other six executive officers. These agreements cover each executive’s entitlements in the event that the executive’s employment is terminated for other than cause, death or disability, or the executive resigns with good reason. The Compensation Committee of the Board of Directors has also approved change of control agreements for each of our executive officers, which cover each executive’s entitlements following a change of control.

Shareholders' Equity and Long-Term Incentive Compensation

12 Months Ended

Dec. 31, 2016

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 computations of the components used for the calculation of basic and diluted income (loss) per share:



	Year ended December 31,
	2016			2015			2014
Numerator:
Income (loss) from continuing operations	$	30.3		$	(151.6	)	$	114.6
Less: Net loss attributable to noncontrolling interests	(0.4		)	(33.4		)	(11.7		)
Adjustment related to redeemable noncontrolling interest (Note13)	(18.1		)	—			—
Income (loss) from continuing operations attributable to SPX Corporation common shareholders for calculating basic and diluted income per share	$	12.6		$	(118.2	)	$	126.3
Income (loss) from discontinued operations, net of tax	$	(97.9	)	$	34.6		$	269.3
Less: Net income (loss) attributable to noncontrolling interest	—			(0.9		)	2.2
Income (loss) from discontinued operations attributable to SPX Corporation common shareholders for calculating basic and diluted income per share	$	(97.9	)	$	35.5		$	267.1
Denominator:
Weighted-average number of common shares used in basic income per share	41.610			40.733			42.400
Dilutive securities — Employee stock options, restricted stock shares and restricted stock units	0.551			—			0.631
Weighted-average number of common shares and dilutive securities used in diluted income per share	42.161			40.733			43.031

For the year ended December 31, 2015, 0.351 of unvested restricted stock shares/units were excluded from the computation of diluted earnings per share as we incurred losses from continuing operations during the year. For the years ended December 31, 2016, 2015, and 2014, 1.045, 0.553, and 0.226 of unvested restricted stock shares/units, respectively, were excluded from the computation of diluted earnings per share as the assumed proceeds for these instruments exceeded the average market value of the underlying common stock for the related years. For the years ended December 31, 2016 and 2015, 1.343 and 0.505, respectively, of outstanding stock options were excluded from the computation of diluted earnings per share as the assumed proceeds for these instruments exceeded the average market value of the underlying common stock for the related years. There were no stock options outstanding during the year ended December 31, 2014.

Common Stock and Treasury Stock

At December 31, 2016, we had 200.0 authorized shares of common stock (par value $0.01). Common shares issued, treasury shares and shares outstanding are summarized in the table below.



	Common Stock Issued		Treasury Stock		Shares Outstanding
December 31, 2013	99.801		(54.520	)	45.281
Share repurchases	—		(4.852	)	(4.852	)
Restricted stock shares and restricted stock units	0.096		0.166		0.262
Other	0.167		—		0.167
December 31, 2014	100.064		(59.206	)	40.858
Restricted stock shares and restricted stock units	0.102		0.096		0.198
Other	0.360		—		0.360
December 31, 2015	100.526		(59.110	)	41.416
Restricted stock shares and restricted stock units	0.042		0.295		0.337
Retirement of treasury stock	(50.000	)	50.000		—
Other	0.187		—		0.187
December 31, 2016	50.755		(8.815	)	41.940

In 2016, we retired 50.0 shares or $2,948.1 of “Common stock in treasury.” Under the applicable state law, these shares represent authorized and unissued shares upon retirement. In accordance with our accounting policy, we allocate any excess of share repurchase over par value between “Paid-in capital” and “Retained earnings,” resulting in respective reductions of $1,285.4 and $1,662.2.

Long-Term Incentive Compensation

Under the 2002 Stock Compensation Plan, as amended in 2006, 2011, 2012 and 2015, up to 2.097 shares of our common stock were available for grant at December 31, 2016. The 2002 Stock Compensation Plan permits the issuance of new shares or shares from treasury upon the exercise of options, vesting of time-based restricted stock units (“RSU’s”) and performance stock units (“PSU’s”), or the granting of restricted stock shares (“RS’s”). Each RSU and RS granted reduces availability by two shares. Each PSU granted in 2016 reduces availability by its maximum vesting attainment of 150%, or 1.5 shares.

PSU’s, RSU’s and RS’s may be granted to certain eligible employees or non-employee directors in accordance with applicable equity compensation plan documents and agreements. Subject to participants’ continued employment and other plan terms and conditions, the restrictions lapse and awards generally vest over a period of time, generally one or three years. In some instances, such as death, disability, or retirement, stock may vest concurrently with or following an employee’s termination. PSU’s are eligible to vest at the end of the 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, while the RSU’s and RS’s vest based on the passage of time since grant date. PSU’s, RSU’s, and RS’s that do not vest within the applicable vesting period are forfeited.

Eligible employees received PSU’s in 2014 and 2013 as to which the employee could earn between 25% and 125% of the target performance award in the event the awards met the required vesting criteria. Vesting for the 2014 and 2013 target performance awards was based on SPX shareholder return versus the S&P Composite 1500 Industrials Index over three-year periods ended December 31, 2016 and December 31, 2015, respectively. In connection with the Spin-Off, the 2014 and 2013 PSU’s were modified to allow for a minimum vesting equivalent to 50% of the underlying shares at the end of the applicable remaining service periods. In connection with this modification, we recorded additional stock compensation expense of $2.1 in 2015. The remaining 2014 and 2013 PSU’s (i.e., the remaining 50%) did not meet the required performance target for the three years ended December 31, 2016 and 2015, respectively, and, as a result, these awards have been forfeited.

We grant RSU’s or RS’s to non-employee directors under the 2006 Non-Employee Directors’ Stock Incentive Plan (the “Directors’ Plan”) and the 2002 Stock Compensation Plan. Under the Directors’ Plan, up to 0.027 shares of our common stock were available for grant at December 31, 2016. The 2016, 2015 and 2014 grants to non-employee directors generally vest over a one-year vesting period, with the 2016 grants scheduled to vest in their entirety immediately prior to the annual meeting of stockholders in May 2017.

Stock options may be granted to key employees in the form of incentive stock options or nonqualified stock options. The option price per share may be no less than the fair market value of our common stock at the close of business the day prior to the date of grant. Upon exercise, the employee has the option to surrender previously owned shares at current value in payment of the exercise price and/or for withholding tax obligations.

The recognition of compensation expense for share-based awards, including stock options, is based on their grant date fair values. The fair value of each award is amortized over the lesser of the award’s requisite or derived service period, which is generally up to three years. Compensation expense within income from continuing operations related to PSU’s, RSU’s, RS’s and stock options totaled $12.7, $33.9 and $32.7 for the years ended December 31, 2016, 2015 and 2014, respectively, with the related tax benefit being $4.8, $12.9 and $12.4 for the years ended December 31, 2016, 2015 and 2014, respectively.

During 2016, long-term cash awards were granted to executive officers and other members of senior management. These awards are eligible to vest at the end of a three-year performance measurement period, with performance based on our achievement of a target segment income amount over the three-year measurement period. Long-term incentive compensation expense for 2016 included $1.0 associated with long-term cash awards.

During the years ended December 31, 2016, 2015 and 2014, we classified excess tax benefits from long-term incentive compensation of $0.1, $0.8 and $9.7, respectively, as financing cash flows and included such amounts in “Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options and other” within our consolidated statements of cash flows.

PSU’s

We use the Monte Carlo simulation model valuation technique to determine fair value of our restricted stock awards 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. We issued PSU’s to eligible participants on March 2, 2016 and January 2, 2014, while there were no PSU’s issued in 2015. We used the following assumptions in determining the fair value of these awards:



	Annual Expected Stock Price Volatility		Annual Expected Dividend Yield		Risk-Free Interest Rate		Correlation Between Total Shareholder Return for SPX and the Applicable S&P Index
March 2, 2016
SPX Corporation	36.91	%	—	%	0.97	%	0.3354
S&P 600 Capital Goods Index	32.94	%	n/a		0.97	%
January 2, 2014:
SPX Corporation	33.7	%	1.02	%	0.76	%	0.7631
S&P Composite 1500 Industrials Index	19.9	%	n/a		0.76	%

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

The following table summarizes the PSU, RSU, and RS activity from December 31, 2013 through December 31, 2016:



	Unvested PSU’s, RSU’s, and RS’s		Weighted-Average Grant-Date Fair Value Per Share
December 31, 2013	1.537		$	58.39
Granted	0.519		86.99
Vested	(0.604	)	59.49
Forfeited	(0.284	)	63.76
December 31, 2014	1.168		69.22
Pre-spin:
Granted	0.451		81.60
Vested	(0.262	)	78.71
Canceled	(0.212	)	52.67
Impact of Spin-Off:
Terminations	(0.785	)	*
Conversions	1.010		*
Post-spin
Granted	0.510		12.32
Canceled	(0.011	)	20.34
December 31, 2015	1.869		17.63
Granted	0.423		13.97
Vested	(0.528	)	10.32
Forfeited	(0.062	)	20.46
December 31, 2016	1.702		$	16.47

As of December 31, 2016, there was $17.0 of unrecognized compensation cost related to PSU’s, RSU’s and RS’s. We expect this cost to be recognized over a weighted-average period of 1.8 years.

Stock Options

On March 2, 2016 and October 14, 2015, we granted stock options totaling 0.505 and 0.883, respectively, all of which were outstanding (but not exercisable) as of December 31, 2016. The exercise price per share of these options is $12.85 and $12.36, respectively, and the maximum contractual term of these options is ten years.

The fair value of each stock option granted on March 2, 2016 and October 14, 2015 was $4.11 and $3.76, respectively. The fair value of each option grant was estimated using a Black-Scholes option-pricing model with the following assumptions:



	March 2, 2016		October 14 2015
Annual expected stock price volatility	30.06	%	27.86	%
Annual expected dividend yield	—	%	—	%
Risk-free interest rate	1.50	%	1.64	%
Expected life of stock option (in years)	6.0		6.0

Annual expected stock price volatility for the March 2, 2016 grant was 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, while the annual expected stock price volatility for the October 14, 2015 grant was based on the six-year historical volatility of SPX’s common stock. 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.

The following table shows stock option activity from December 31, 2013 through December 31, 2016.



	Shares		Weighted- Average Exercise Price
Options outstanding and exercisable at December 31, 2013	—		$	—
No activity	—		—
Options outstanding and exercisable at December 31, 2014	—		—
Granted pre-spin	0.323		85.87
Impact of Spin-Off:
Terminations	(0.282	)	85.87
Conversions	0.123		*
Granted post-spin	0.883		12.36
Options outstanding and exercisable at December 31, 2015	1.047		12.91
Granted	0.505		12.85
Options outstanding and exercisable at December 31, 2016	1.552		$	12.89

As of December 31, 2016, there was $3.2 of unrecognized compensation cost related to the outstanding stock options. We expect this cost to be recognized over a weighted-average period of 1.7 years.

Accumulated Other Comprehensive Income

The changes in the components of accumulated other comprehensive income, net of tax, for the year ended December 31, 2016 were as follows:



	Foreign Currency Translation Adjustment			Net Unrealized Gains (Losses) on Qualifying Cash Flow Hedges(2)			Pension and Postretirement Liability Adjustment and Other(3)			Total
December 31, 2015	$	280.6		$	(1.8	)	$	4.5		$	283.3
Other comprehensive income (loss) before reclassifications	(11.9		)	1.1			—			(10.8		)
Amounts reclassified from accumulated other comprehensive income ⁽¹⁾	(39.0		)	2.2			(0.6		)	(37.4		)
Current-period other comprehensive income (loss)	(50.9		)	3.3			(0.6		)	(48.2		)
December 31, 2016	$	229.7		$	1.5		$	3.9		$	235.1

___________________________________________________________________

⁽¹⁾

In connection with the sale of our dry cooling business, we reclassified $40.4 of other comprehensive income related to foreign currency translation to “Gain on sale of dry cooling business,” partially offset by the reclassification, in connection with sale of Balcke Dürr, of $1.4 of other comprehensive loss related to foreign currency translation to “Gain (loss) on disposition of discontinued operations, net of tax.”


⁽²⁾	Net of tax (provision) benefit of $(0.9) and $0.8 as of December 31, 2016 and 2015, respectively.


⁽³⁾	Net of tax provision of $2.7 and $3.1 as of December 31, 2016 and 2015, respectively. The balances as of December 31, 2016 and 2015 include unamortized prior service credits.

The changes in the components of accumulated other comprehensive income, net of tax, for the year ended December 31, 2015 were as follows:



	Foreign Currency Translation Adjustment			Net Unrealized Losses on Qualifying Cash Flow Hedges(1)			Pension and Postretirement Liability Adjustment and Other(2)			Total
Balance at December 31, 2014	$	59.0		$	(1.3	)	$	4.9		$	62.6
Other comprehensive income (loss) before reclassifications	(132.9		)	(1.8		)	0.5			(134.2		)
Amounts reclassified from accumulated other comprehensive income	—			1.2			(0.9		)	0.3
Current-period other comprehensive loss	(132.9		)	(0.6		)	(0.4		)	(133.9		)
Spin-Off of FLOW Business	354.5			0.1			—			354.6
Balance at December 31, 2015	$	280.6		$	(1.8	)	$	4.5		$	283.3

___________________________________________________________________


⁽¹⁾	Net of tax benefit of $0.8 and $1.1 as of December 31, 2015 and 2014, respectively.


⁽²⁾	Net of tax provision of $3.1 and $3.0 as of December 31, 2015 and 2014, respectively. The balances as of December 31, 2015 and 2014 include unamortized prior service credits.

The following summarizes amounts reclassified from each component of accumulated comprehensive income for the years ended December 31, 2016 and 2015:



	Amount Reclassified from AOCI						Affected Line Items in the Consolidated Statements of Operations
	Year ended December 31,
	2016			2015
Losses on qualifying cash flow hedges:
FX forward contracts	$	1.0		$	(0.6	)	Revenues
Commodity contracts	2.0			2.8			Cost of products sold
Pre-tax	3.0			2.2
Income taxes	(0.8		)	(1.0		)
	$	2.2		$	1.2
Pension and postretirement items:
Amortization of unrecognized prior service credits - Pre-tax	$	(1.0	)	$	(1.1	)	Selling, general and administrative
Income taxes	0.4			0.2
	$	(0.6	)	$	(0.9	)

Recognition of foreign currency translation adjustments related to business dispositions:
Recognition of foreign currency translation adjustment associated with the sale of our dry cooling business	$	(40.4	)	$	—		Gain on sale of dry cooling business
Recognition of foreign currency translation adjustment associated with the sale our Balcke Dürr business	1.4			—			Gain (loss) on disposition of discontinued operations, net of tax
	$	(39.0	)	$	—

Common Stock in Treasury

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

As described above, in 2016, we retired 50.0 shares or $2,948.1 of “Common stock in treasury.” In addition, during the years ended December 31, 2016, 2015 and 2014, “Common stock in treasury” was decreased by the settlement of restricted stock units issued from treasury stock of $17.9, $7.0 and $13.8, respectively, and increased by $0.0, $1.8 and $7.9, 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. Dividends declared totaled $30.9 and $63.2 for the years ended December 31, 2015 and 2014, respectively, while dividends paid during these periods were $45.9 and $59.8, respectively.

Preferred Stock

None of our 3.0 shares of authorized no par value preferred stock was outstanding at December 31, 2016, 2015 or 2014.

Fair Value

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value

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


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


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


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

There were no changes during the periods presented to the valuation techniques we use to measure asset and liability fair values on a recurring basis. Except as previously discussed in Note 9, there were no transfers between the three levels of the fair value hierarchy for the periods presented.

Valuation Methodologies Used to Measure Fair Value on a Non-Recurring Basis

Parent Guarantees and Bonds Associated with Balcke Dürr — As indicated in Note 4, in connection with the sale of Balcke Dürr, existing parent company guarantees of approximately €79.0 and bank and surety bonds of approximately €79.0 will remain in place through each instrument’s expiration date, with such expiration dates ranging from 2017 to 2022. These guarantees and bonds provide protections for Balcke Dürr customers in regard to advance payments, performance, and warranties on certain existing projects. In addition, certain bonds relate to existing lease obligations and foreign tax matters. Balcke Dürr and the Buyer have provided us a full indemnity in the event that any of these guarantees or bonds are called. Also, Balcke Dürr has provided cash collateral of €4.0 and mutares AG has provided a guarantee of €5.0 as a security for the above indemnifications. The net loss on the sale of the business of $78.6 includes a charge of $5.1 associated with the estimated fair value of the guarantees and bonds, after consideration of the cash collateral and guarantee provided by Balcke Dürr and mutares AG, respectively. The fair value of the guarantees and bonds of $9.9 has been reflected within “Other long-term liabilities,” while the fair value of the associated indemnities of $4.8 has been reflected within “Other assets,” as of December 31, 2016. We estimated the fair value of the existing parent company guarantees and bank and surety bonds considering the probability of default by Balcke Dürr and an estimate of the amount we would be obligated to pay in the event of a default (unobservable inputs - Level 3). We estimated the fair value of the cash collateral provided by Balcke Dürr and partial guarantee provided by mutares AG based on the terms and conditions and relative risk associated with each of these securities.

Goodwill, Indefinite-Lived Intangible and Other Long-Lived Assets — Certain of our non-financial assets are subject to impairment analysis, including long-lived assets, indefinite-lived intangible assets and goodwill. We review the carrying amounts of such assets whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable or at least annually for indefinite-lived intangible assets and goodwill. Any resulting asset impairment would require that the instrument be recorded at its fair value. As of December 31, 2016, and with the exception of the impairment charges noted below, we did not have any significant non-financial assets or liabilities that are required to be measured at fair value on a recurring or non-recurring basis.

During the fourth quarter of 2016, we concluded that the carrying value of Heat Transfer’s definite-lived intangible assets (customer relationships and technology) may not be recoverable. As a result, we performed an impairment analysis on such assets. Based on such analysis, we determined that the fair values of these assets were less than their respective carrying values, resulting in an aggregate impairment charge of $23.9. The fair value of the customer relationship intangible asset was based on the estimated future cash flows of the asset, discounted at a rate of return that reflects the relative risk of the cash flows (unobservable inputs - Level 3). The fair values for the technology intangible assets were based on applying estimated royalty rates to projected revenues associated with the assets, discounted at a rate of return that reflects the relative risk of the revenues and current market conditions (unobservable inputs - Level 3).

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 amount discounted at a rate of return that reflects the relative risk of the revenues and current market conditions (fair value based on unobservable inputs - Level 3, as defined above). Based on our annual impairment testing during the fourth quarter of 2016, we recorded an impairment charge associated with Heat Transfer’s trademarks of $2.2. In addition, we recorded impairment charges of $4.0 and $10.9, respectively, during the first quarter of 2016 and the fourth quarter of 2014 associated with Heat Transfer’s trademarks.

During 2014, we recorded an impairment charge of $18.0 related to our former dry cooling business’s investment in a joint venture with Shanghai Electric Group Co., LTD. The fair value of the investment was based upon weighting the income and market approaches, utilizing estimated cash flows and a terminal value discounted at a rate of return that reflects the relative risk of the cash flows (unobservable inputs - Level 3).

Valuation Methodologies Used to Measure Fair Value on a Recurring Basis

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

As of December 31, 2016, there had been no significant impact to the fair value of our derivative liabilities due to our own credit risk, as the related instruments are collateralized under our senior credit facilities. Similarly, there had been no significant impact to the fair value of our derivative assets based on our evaluation of our counterparties’ credit risks.

Indebtedness and Other — The estimated fair value of our debt instruments as of December 31, 2016 and December 31, 2015 approximated the related carrying values due primarily to the variable market-based interest rates for such instruments. See Note 11 for further details.

Quarterly Financial Information Disclosure [Abstract]

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

+ References + Details

Quarterly Results (Unaudited)

12 Months Ended

Dec. 31, 2016

Quarterly Results (Unaudited)



	First ⁽⁵⁾⁽⁶⁾						Second ⁽⁵⁾						Third ⁽⁵⁾						Fourth ⁽⁶⁾
	2016			2015			2016			2015			2016			2015			2016			2015
Operating revenues ⁽¹⁾	$	360.6		$	345.9		$	371.4		$	410.6		$	345.0		$	334.1		$	395.3		$	468.4
Gross profit (loss) ⁽¹⁾	89.9			70.4			91.1			86.7			80.8			(2.7		)	114.0			121.5
Income (loss) from continuing operations, net of tax ⁽²⁾	20.2			(33.9		)	6.5			(11.4		)	6.6			(122.7		)	(3.0		)	16.4
Income (loss) from discontinued operations, net of tax ⁽³⁾	(6.6		)	23.9			(3.5		)	47.8			(4.7		)	(8.0		)	(83.1		)	(29.1		)
Net income (loss)	13.6			(10.0		)	3.0			36.4			1.9			(130.7		)	(86.1		)	(12.7		)
Less: Net income (loss) attributable to noncontrolling interests ⁽¹⁾	0.6			(2.9		)	(1.0		)	(2.6		)	—			(25.6		)	—			(3.2		)
Net income (loss) attributable to SPX Corporation common shareholders	13.0			(7.1		)	4.0			39.0			1.9			(105.1		)	(86.1		)	(9.5		)
Adjustment related to redeemable noncontrolling interest ⁽⁴⁾	—			—			(18.1		)	—			—			—			—			—
Net income (loss) attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest	$	13.0		$	(7.1	)	$	(14.1	)	$	39.0		$	1.9		$	(105.1	)	$	(86.1	)	$	(9.5	)
Basic income (loss) per share of common stock:
Continuing operations, net of tax	$	0.47		$	(0.77	)	$	(0.25	)	$	(0.23	)	$	0.16		$	(2.39	)	$	(0.07	)	$	0.48
Discontinued operations, net of tax	(0.16		)	0.59			(0.09		)	1.19			(0.12		)	(0.19		)	(1.99		)	(0.71		)
Net income (loss)	$	0.31		$	(0.18	)	$	(0.34	)	$	0.96		$	0.04		$	(2.58	)	$	(2.06	)	$	(0.23	)
Diluted income (loss) per share of common stock:
Continuing operations, net of tax	$	0.47		$	(0.77	)	$	(0.25	)	$	(0.23	)	$	0.16		$	(2.39	)	$	(0.07	)	$	0.47
Discontinued operations, net of tax	(0.16		)	0.59			(0.09		)	1.19			(0.12		)	(0.19		)	(1.99		)	(0.70		)
Net income (loss)	$	0.31		$	(0.18	)	$	(0.34	)	$	0.96		$	0.04		$	(2.58	)	$	(2.06	)	$	(0.23	)

___________________________________________________________________

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

⁽¹⁾

During the third quarter of 2015, we revised our estimates of expected revenues and profits associated with our large power projects in South Africa. As a result of these revisions, we reduced revenue and gross profit by $57.2 and $95.0, respectively. In addition, the revision resulted in an increase to “Net loss attributable to noncontrolling interests” of $23.8. See Notes 5 and 13 for additional details.


⁽²⁾	During the fourth quarter of 2016 and 2015, we recognized pre-tax actuarial losses of $10.2 and $9.6, respectively, associated with our pension and postretirement benefit plans. See Note 9 for additional details.

During the second quarter of 2016, we recognized pre-tax actuarial losses of $1.8 associated with our pension and postretirement benefit plans. See Note 9 for additional details.

During the third quarter of 2015, we recognized pre-tax actuarial losses of $11.4 and a curtailment gain of $5.1 associated with our pension and postretirement benefit plans. See Note 9 for additional details.

During the first and fourth quarters of 2016, we recorded impairment charges of $4.0 and $26.1, respectively, associated with the intangible assets of our Heat Transfer business. See Note 8 for additional details.

During the first quarter of 2016, we completed the sale of our dry cooling business, resulting in a pre-tax gain of $17.9. During the second quarter of 2016, we reduced the pre-tax gain by $1.2 associated with adjustments to certain retained liabilities. During the third quarter of 2016, we increased the pre-tax gain by $1.7 associated with the working capital settlement related to the transaction. See Note 4 for additional details.


⁽³⁾	During the fourth quarter of 2016, we recorded a net loss on the sale of Balcke Dürr of $78.6. See Note 4 for additional details.

⁽⁴⁾

During the second quarter of 2016, in connection with the noncontrolling interest in our South Africa subsidiary, we have reflected an adjustment of $18.1 to “Net income (loss) attributable to SPX Corporation common shareholders” for the excess redemption amount of the Put Option (i.e., the increase in the redemption amount during 2016 in excess of fair value) in our calculations of basic and diluted earnings per share (see Note 13 for additional details).


⁽⁵⁾	During the first three quarters of 2015, there was a significant amount of general and administrative costs associated with corporate employees and other corporate support that transferred to SPX FLOW at the time of the Spin-Off and did not meet the requirements to be presented within discontinued operations.

⁽⁶⁾

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. This practice only affects the quarterly reporting periods and not the annual reporting period. We had six more days in the first quarter of 2016 and we had five fewer days in the fourth quarter of 2016 than in the respective 2015 periods.

Basis of Presentation and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2016

Principles of Consolidation

Consolidation, Variable Interest Entity

In determining whether we are the primary beneficiary of a variable interest entity (“VIE”), we perform a qualitative analysis that considers the design of the VIE, the nature of our involvement and the variable interests held by other parties to determine which party has the power to direct the activities of the VIE that most significantly impact the entity’s economic performance, and which party has the obligation to absorb losses or the right to receive benefits of the entity that could potentially be significant to the VIE. We have an interest in a VIE, in which we are not the primary beneficiary, as a result of the sale of Balcke Dürr. See below and in Notes 2, 4 and 15 for further discussion of the Balcke Dürr sale. All other VIEs are considered immaterial, individually and in aggregate, to our consolidated financial statements.

Spin- Off of Flow Business, Shift Away from the Power Generation Markets, and Change of the Name of Our Power Reportable Segment

Retirement of Treasury Stock

In accordance with our accounting policy, we allocate any excess of share repurchase over par value between “Paid-in capital” and “Retained earnings,”

Foreign Currency Translation and Transactions

Cash Equivalents

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

Revenue Recognition

Research and Development Costs

Property, Plant and Equipment

Pension and Postretirement

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

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

Income Taxes

Derivative Financial Instruments

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

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

From time to time, we enter into forward contracts to manage the exposure on contracts with forecasted transactions denominated in non-functional currencies and to manage the risk of transaction gains and losses associated with assets/liabilities denominated in currencies other than the functional currency of certain subsidiaries (“FX forward contracts”). In addition, some of our contracts contain currency forward embedded derivatives (“FX embedded derivatives”), because the currency of exchange is not “clearly and closely” related to the functional currency of either party to the transaction. Certain of our FX forward contracts are designated as cash flow hedges. To the extent these derivatives are effective in offsetting the variability of the hedged cash flows, changes in the derivatives’ fair value are not included in current earnings, but are included in 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. In addition, if the forecasted transaction is no longer probable, the cumulative change in the derivatives’ fair value is recorded as a component of “Other income (expense), net” in the period in which the transaction is no longer considered probable of occurring. To the extent a previously designated hedging transaction is no longer an effective hedge, any ineffectiveness measured in the hedging relationship is recorded in earnings in the period in which it occurs.

Use of Estimates

Use of Estimates

Accounts Receivable Allowances

Inventory

Long-Lived Assets and Intangible Assets Subject to Amortization

Goodwill and Indefinite-Lived Intangible Assets

Accrued Expenses

Accrued Expenses — We make estimates and judgments in establishing accruals as required under GAAP.

Legal

Environmental Remediation Costs

Risk Management Matters

Warranty

Income Taxes

Employee Benefit Plans

Parent Guarantees and Bonds Associated with Balcke Durr

New Accounting Pronouncements

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

In April 2014, the Financial Accounting Standards Board (“FASB”) issued an amendment to guidance to change the criteria for determining which disposals of components of an entity can be presented as discontinued operations and to modify related disclosure requirements. Under the amended guidance, a discontinued operation is defined as a disposal of a component or group of components that is disposed of or is classified as held for sale and represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. The amendment states that a “strategic shift” could include a disposal of (i) a major geographical area of operations, (ii) a major line of business, (iii) a major equity method investment, or (iv) other major parts of an entity. The standard no longer precludes presentation as a discontinued operation if there are operations and cash flows of the component that have not been eliminated from the reporting entity’s ongoing operations, or there is significant continuing involvement with a component after its disposal. This amendment was effective for interim and annual reporting periods beginning after December 15, 2014. We adopted this guidance on January 1, 2015. See Note 4 for businesses classified as a discontinued operation in accordance with this amendment.

In May 2014, the FASB issued a new standard on revenue recognition that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The new standard contains a five-step approach that entities will apply to determine the measurement of revenue and timing of when it is recognized, including (i) identifying the contract(s) with a customer, (ii) identifying the separate performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to separate performance obligations, and (v) recognizing revenue when (or as) each performance obligation is satisfied. The new standard requires a number of disclosures intended to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue, and the related cash flows. The disclosures include qualitative and quantitative information about contracts with customers, significant judgments made in applying the revenue guidance, and assets recognized from the costs to obtain or fulfill a contract. The standard is effective for interim and annual reporting periods beginning after December 15, 2017 and we currently plan to adopt the standard using the modified retrospective transition method. The modified retrospective transition approach will recognize any changes from the beginning of the year of initial application through retained earnings with no restatement of comparative periods. We are continuing to assess the potential effect that the standard is expected to have on our consolidated financial statements. We believe the more significant effects on our existing accounting policies will be associated with our power transformer business. Under the new standard, revenue for our power transformers will be recognized over time, which is a change from our current accounting policy of recognizing revenue for power transformers at a point in time.

In April 2015, 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 consolidated balance sheets. See Note 11 for additional details.

In April 2015, the FASB issued an amendment to existing guidance that, among other changes, permits an entity that has a significant event in an interim period that requires a remeasurement of defined benefit plan assets and obligations to remeasure such assets and obligations using the month-end date that is closest to the date of the significant event, rather than the date of the plan event. Under the amended guidance, the month-end remeasurement of defined benefit plan assets and obligations that is closest to the date of the significant event should be adjusted to reflect any effects of the significant event, to the extent those effects are not captured in the month-end measurement. An entity is required to disclose its accounting policy election and the dates used to measure defined benefit plan assets and obligations in accordance with the provisions of this amended guidance. Although earlier application is permitted, the amendment is effective for interim and annual reporting periods beginning after December 15, 2015, and shall be applied prospectively. We early adopted the provisions of this amendment during the third quarter of 2015 in connection with an amendment to certain of our U.S. pension plans during the period. See Note 9 for additional information on the adoption of this amendment and the impact on our consolidated financial statements.

In November 2015, the FASB issued an amendment to existing guidance that simplifies the presentation of deferred income taxes. The amended guidance requires that deferred tax assets and liabilities be classified as non-current in a statement of financial position. Although earlier application is permitted, the amendment is effective for interim and annual reporting periods beginning after December 15, 2016, with prospective or retrospective adoption permitted. We early adopted the amendment during the fourth quarter of 2015, on a prospective basis, resulting in the classification of our deferred tax assets and deferred tax liabilities as non-current within the accompanying consolidated balance sheets as of December 31, 2016 and 2015.

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 this new standard will have on our 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. This standard is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. The standard requires that all excess tax benefits and deficiencies currently recorded in “shareholders’ equity” be prospectively recorded to the statement of operations within the income tax (provision) benefit. These excess tax benefits and deficiencies are primarily driven by fluctuations in our stock price between the date a share-based award is granted and the date the award vests. As such, under this standard we could experience volatility in our income tax (provision) benefit and effective income tax rate. The standard also requires excess tax benefits or deficiencies be presented as an operating activity within the statement of cash flows rather than as a financing activity. This element of the standard may be applied retrospectively or prospectively. We are currently evaluating the effect this new standard will have on our consolidated financial statements.

In August 2016, the FASB issued an amendment to existing guidance to reduce diversity in practice in how certain cash receipts and cash payments are presented in the statement of cash flows. This amendment provides clarification on eight specific cash flow presentation issues. The issues include, but are not limited to, debt prepayment or extinguishment costs, settlement of zero-coupon debt, proceeds from the settlement of insurance claims, and cash receipts from payments on beneficial interests in securitization transactions. This amendment is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods. Early adoption is permitted. We are currently evaluating the effect this amendment will have on our consolidated financial statements.

In January 2017, the FASB issued an amendment to simplify the subsequent measurement of goodwill by removing the second step of the two-step impairment test. The amendment requires that an entity recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. This amendment is effective for annual reporting periods beginning after December 31, 2019, including interim periods within those annual reporting periods. Early adoption is permitted. The impact of this amendment on our consolidated financial statements will depend on the results of future goodwill impairment tests.

Special Charges, Net

We anticipate that the liabilities related to restructuring actions will be paid within one year from the period in which the action was initiated.

Goodwill and Other Intangible Assets

Defined Contribution Retirement Plans

Undistributed Foreign Earnings

Potential Uncertain Positions

Concentrations of Credit Risk

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

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

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

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

Fair Value

Valuation Methodologies Used to Measure Fair Value on a Recurring Basis


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


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


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

Fiscal Period

Environmental Matters

Environmental Matters

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of costs and estimated earnings on uncompleted contracts

Costs and estimated earnings on uncompleted contracts, from their inception, and related amounts billed as of December 31, 2016 and 2015 were as follows:



	2016			2015
Costs incurred on uncompleted contracts	$	1,191.4		$	1,105.6
Estimated earnings to date	25.0			29.3
	1,216.4			1,134.9
Less: Billings to date	(1,235.8		)	(1,153.6		)
Billings in excess of costs and estimated earnings	$	(19.4	)	$	(18.7	)

Schedule of net costs and estimated earnings in excess of billings



	2016			2015
Costs and estimated earnings in excess of billings⁽¹⁾	$	33.9		$	78.6
Billings in excess of costs and estimated earnings on uncompleted contracts⁽²⁾	(53.3		)	(97.3		)
Net billings in excess of costs and estimated earnings	$	(19.4	)	$	(18.7	)

___________________________________________________________________


⁽¹⁾	Reported as a component of “Accounts receivable, net.”


⁽²⁾	Reported as a component of “Accrued expenses.”

Use of Estimates (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of activity for accounts receivable allowance accounts

Summarized below is the activity for these allowance accounts.



	Year ended December 31,
	2016			2015			2014
Balance at beginning of year	$	9.1		$	12.9		$	20.9
Allowances provided	15.7			14.0			17.4
Write-offs, net of recoveries, credits issued and other	(14.7		)	(17.8		)	(25.4		)
Balance at end of year	$	10.1		$	9.1		$	12.9

Schedule of accrued expenses

Summarized in the table below are the components of accrued expenses at December 31, 2016 and 2015.



	December 31,
	2016		2015
Employee benefits	$	69.3	$	76.8
Unearned revenue⁽¹⁾	117.8		173.1
Warranty	15.6		17.0
Other⁽²⁾	101.6		108.2
Total⁽³⁾	$	304.3	$	375.1

___________________________________________________________________


⁽¹⁾	Unearned revenue includes billings in excess of costs and estimated earnings on uncompleted contracts accounted for under the percentage-of-completion method of revenue recognition, customer deposits and unearned amounts on service contracts.


⁽²⁾	Other consists of various items including, among other items, accrued legal costs, interest and restructuring costs, none of which is individually material.

⁽³⁾

Schedule of product warranty accrual

The following is an analysis of our product warranty accrual for the periods presented:



	Year ended December 31,
	2016			2015			2014
Balance at beginning of year	$	36.3		$	34.5		$	30.4
Provisions	15.2			18.1			21.7
Usage	(15.5		)	(16.0		)	(17.3		)
Currency translation adjustment	(0.2		)	(0.3		)	(0.3		)
Balance at end of year	35.8			36.3			34.5
Less: Current portion of warranty	15.6			17.0			18.0
Non-current portion of warranty	$	20.2		$	19.3		$	16.5

__________________________________________________________________

Discontinued Operations and Other Dispositions (Tables)

12 Months Ended

Dec. 31, 2016

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

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



	Year ended December 31,
	2016		2015		2014
Revenues	$	—	$	—	$	27.7
Pre-tax loss	—		—		(6.1		)
Loss from discontinued operations, net	—		—		(5.0		)

For the years ended December 31, 2016, 2015 and 2014, results of operations from our businesses reported as discontinued operations were as follows:



	Year ended December 31,
	2016			2015 ⁽¹⁾			2014
Balcke Dürr
Income (loss) from discontinued operations	$	(107.0	)	$	(48.7	)	$	3.7
Income tax (provision) benefit	11.8			9.1			(2.2		)
Income (loss) from discontinued operations, net	(95.2		)	(39.6		)	1.5

SPX FLOW
Income from discontinued operations	$	—		$	122.4		$	335.0
Income tax provision	—			(43.0		)	(75.5		)
Income from discontinued operations, net	—			79.4			259.5

All other
Income (loss) from discontinued operations	$	(3.7	)	$	(8.6	)	$	22.1
Income tax (provision) benefit	1.0			3.4			(13.8		)
Income (loss) from discontinued operations, net	(2.7		)	(5.2		)	8.3

Total
Income (loss) from discontinued operations	$	(110.7	)	$	65.1		$	360.8
Income tax (provision) benefit	12.8			(30.5		)	(91.5		)
Income (loss) from discontinued operations, net	$	(97.9	)	$	34.6		$	269.3


⁽¹⁾	For SPX FLOW, represents financial results through the date of Spin-Off (i.e., the nine months ended September 26, 2015), except for a revision to increase the income tax provision by $1.4 that was recorded during the fourth quarter of 2015.

The major classes of assets and liabilities held for sale as of December 31, 2015 are shown below:



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

The following table presents selected financial information for SPX FLOW that is included within discontinued operations in the consolidated statements of cash flows:



	Year ended December 31,
	2015 ⁽¹⁾		2014
Non-cash items included in income from discontinued operations, net of tax
Depreciation and amortization	$	44.3	$	65.8
Impairment of intangible assets	15.0		11.7
Capital expenditures	43.1		40.7
Payment of capital lease obligation	—		60.8


⁽¹⁾	Represents financial results for SPX FLOW through the date of Spin-Off (i.e., the nine months ended September 26, 2015).

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 years ended December 31, 2015 ⁽¹⁾ and 2014 are shown below:



	Year ended December 31,
	2015 ⁽¹⁾			2014
Revenues	$	1,775.1		$	2,768.4
Costs and expenses:
Costs of products sold	1,179.3			1,831.0
Selling, general and administrative ⁽²⁾	368.2			507.8
Intangible amortization	17.7			26.1
Impairment of intangible assets	15.0			11.7
Special charges	41.2			13.8
Other income (expense), net ⁽³⁾	1.3			(1.9		)
Interest expense, net	(32.6		)	(41.1		)
Income before taxes	122.4			335.0
Income tax provision	(43.0		)	(75.5		)
Income from discontinued operations	79.4			259.5
Less: Net loss attributable to noncontrolling interest	(0.9		)	(2.2		)
Income from discontinued operations attributable to common shareholders	$	80.3		$	261.7


⁽¹⁾	Represents financial results for SPX FLOW through the date of Spin-Off (i.e., the nine months ended September 26, 2015), except for a revision to increase the income tax provision by $1.4 that was recorded during the fourth quarter of 2015.


⁽²⁾	Includes $30.8 and $3.5 for the years ended December 31, 2015 and December 31, 2014, respectively, of professional fees and other costs that were incurred in connection with the Spin-Off.


⁽³⁾	Includes, for the year ended December 31, 2014, $5.0 of costs incurred to obtain the consents required of the holders of our 6.875% senior notes to amend certain provisions of the indenture governing such senior notes, with such consent obtained in connection with the Spin-Off.

Balcke Durr

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

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

Major classes of line items constituting pre-tax income (loss) and after-tax income (loss) of Balcke Dürr for the years ended December 31, 2016, 2015 and 2014 are shown below:



	Year ended December 31,
	2016			2015			2014
Revenues	$	153.4		$	160.3		$	258.3
Costs and expenses:
Costs of products sold	144.2			143.8			198.5
Selling, general and administrative	31.4			37.9			50.6
Impairment of goodwill	—			13.7			—
Special charges (credits), net	(1.3		)	12.7			3.4
Other expense	(0.2		)	(0.9		)	(2.1		)
Income (loss) before taxes	(21.1		)	(48.7		)	3.7
Income tax (provision) benefit	4.5			9.1			(2.2		)
Income (loss) from discontinued operations	$	(16.6	)	$	(39.6	)	$	1.5



ASSETS:
Cash and equivalents	$	4.2
Accounts receivable, net	61.9
Inventories, net	9.4
Other current assets	8.7
Assets of discontinued operations - current	84.2
Property, plant and equipment, net	14.2
Other assets (includes $19.6 of “Deferred and other income taxes”)	21.6
Assets of discontinued operations - non current	35.8
Total assets - discontinued operations	$	120.0

LIABILITIES:
Accounts payable	$	19.9
Accrued expenses	53.9
Income taxes payable	0.1
Liabilities of discontinued operations - current	73.9
Liabilities of discontinued operations - non current (includes $15.5 of “Deferred and other income taxes”)	24.0
Total liabilities - discontinued operations	$	97.9

The following table presents selected financial information for Balcke Dürr that is included within discontinued operations in the consolidated statements of cash flows:



	Year ended December 31,
	2016		2015		2014
Non-cash items included in income (loss) from discontinued operations, net of tax
Depreciation and amortization	$	2.0	$	2.2	$	2.8
Impairment of goodwill	—		13.7		—
Capital expenditures	0.7		1.9		1.1

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=64862545&loc=SL51724579-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2941-110230

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760

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

Information on Reportable Segments (Tables)

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Financial data for our reportable segments for the years ended December 31, 2016, 2015 and 2014 were as follows:



	2016		2015			2014
Revenues:
HVAC segment	$	509.5	$	529.1		$	535.7
Detection and Measurement segment	226.4		232.3			244.4
Engineered Solutions segment ⁽¹⁾	736.4		797.6			914.3
Consolidated revenues	$	1,472.3	$	1,559.0		$	1,694.4
Income (loss):
HVAC segment	$	80.2	$	80.2		$	69.4
Detection and Measurement segment	45.3		46.0			55.2
Engineered Solutions segment ⁽¹⁾	17.3		(87.4		)	(3.6		)
Total income for segments	142.8		38.8			121.0
Corporate expense	41.7		103.4			133.9
Pension and postretirement expense	15.4		18.6			104.9
Long-term incentive compensation expense	13.7		33.9			32.7
Impairment of intangible and other long-term assets	30.1		—			28.9
Special charges, net	5.3		5.1			5.9
Gain on sale of dry cooling business	18.4		—			—
Consolidated operating income (loss)	$	55.0	$	(122.2	)	$	(185.3	)

Capital expenditures:
HVAC segment	$	1.9	$	2.3		$	4.3
Detection and Measurement segment	0.7		1.2			2.3
Engineered Solutions segment	6.5		8.1			7.1
General corporate	2.6		4.4			5.6
Total capital expenditures	$	11.7	$	16.0		$	19.3
Depreciation and amortization:
HVAC segment	$	5.3	$	4.6		$	4.5
Detection and Measurement segment	3.5		2.8			2.7
Engineered Solutions segment	15.2		20.7			22.7
General corporate	2.5		8.9			10.7
Total depreciation and amortization	$	26.5	$	37.0		$	40.6



	2016		2015		2014
Identifiable assets:
HVAC segment	$	710.1	$	623.0	$	684.8
Detection and Measurement segment	244.2		256.5		217.1
Engineered Solutions segment	567.6		808.6		870.8
General corporate	390.6		371.2		449.1
Discontinued operations	—		120.0		3,672.5
Total identifiable assets	$	1,912.5	$	2,179.3	$	5,894.3
Geographic Areas:
Revenues: ⁽²⁾
United States	$	1,235.2	$	1,255.4	$	1,302.6
China	33.5		83.6		108.7
South Africa ⁽¹⁾	105.4		54.2		109.2
United Kingdom	59.1		69.6		69.2
Other	39.1		96.2		104.7
	$	1,472.3	$	1,559.0	$	1,694.4

Tangible Long-Lived Assets:
United States	$	897.0	$	835.9	$	796.9
Other	29.6		40.4		35.2
Long-lived assets of continuing operations	926.6		876.3		832.1
Long-lived assets of discontinued operations	—		35.8		563.2
Total tangible long-lived assets	$	926.6	$	912.1	$	1,395.3

___________________________________________________________________

⁽¹⁾


⁽²⁾	Revenues are included in the above geographic areas based on the country that recorded the customer revenue.

Special Charges, Net (Tables)

12 Months Ended

Dec. 31, 2016

Restructuring and Related Activities [Abstract]

Schedule of special charges by expense type

Special charges for the years ended December 31, 2016, 2015 and 2014 are described in more detail below and in the applicable sections that follow:



	Years Ended December 31,
	2016		2015		2014
Employee termination costs	$	1.7	$	4.5	$	5.3
Facility consolidation costs	—		0.2		0.3
Other cash costs, net	—		0.1		0.3
Non-cash asset write-downs	3.6		0.3		—
Total	$	5.3	$	5.1	$	5.9

Schedule of special charges

2016 Charges:



	Employee Termination Costs		Facility Consolidation Costs		Other Cash Costs, Net		Non-Cash Asset Write-downs		Total Special Charges
HVAC segment	$	—	$	—	$	—	$	—	$	—
Detection and Measurement segment	0.5		—		—		0.3		0.8
Engineered Solutions segment	1.2		—		—		3.3		4.5
Corporate	—		—		—		—		—
Total	$	1.7	$	—	$	—	$	3.6	$	5.3

2014 Charges:



	Employee Termination Costs		Facility Consolidation Costs		Other Cash Costs, Net		Non-Cash Asset Write-downs		Total Special Charges
HVAC segment	$	0.7	$	0.2	$	—	$	—	$	0.9
Detection and Measurement segment	1.2		—		—		—		1.2
Engineered Solutions segment	2.7		0.1		0.3		—		3.1
Corporate	0.7		—		—		—		0.7
Total	$	5.3	$	0.3	$	0.3	$	—	$	5.9

2015 Charges:



	Employee Termination Costs		Facility Consolidation Costs		Other Cash Costs, Net			Non-Cash Asset Write-downs		Total Special Charges
HVAC segment	$	0.9	$	0.1	$	(0.2	)	$	0.3	$	1.1
Detection and Measurement segment	0.9		—		—			—		0.9
Engineered Solutions segment	1.6		0.1		0.3			—		2.0
Corporate	1.1		—		—			—		1.1
Total	$	4.5	$	0.2	$	0.1		$	0.3	$	5.1

Schedule of the analysis of the entity's restructuring liabilities

The following is an analysis of our restructuring liabilities for the years ended December 31, 2016, 2015 and 2014:



	December 31,
	2016			2015			2014
Balance at beginning of year	$	1.6		$	1.7		$	0.7
Special charges⁽¹⁾	1.7			4.8			5.9
Utilization — cash⁽²⁾	(2.1		)	(5.1		)	(5.1		)
Currency translation adjustment and other	(0.3		)	0.2			0.2
Balance at the end of year	$	0.9		$	1.6		$	1.7

___________________________________________________________________


⁽¹⁾	The years ended December 31, 2016, 2015 and 2014 excluded $3.6, $0.3 and $0.0, respectively, of non-cash charges that impacted special charges but not the restructuring liabilities.


⁽²⁾	The years ended December 31, 2016, 2015 and 2014 included $0.0, $0.0 and $0.6 of cash utilized to settle retained liabilities of discontinued operations.

Inventories, Net (Tables)

12 Months Ended

Dec. 31, 2016

Inventory Disclosure [Abstract]

Schedule of inventories

Inventories at December 31, 2016 and 2015 comprised the following:



	December 31,
	2016			2015
Finished goods	$	43.0		$	57.5
Work in process	50.0			53.7
Raw materials and purchased parts	64.9			75.4
Total FIFO cost	157.9			186.6
Excess of FIFO cost over LIFO inventory value	(12.2		)	(12.4		)
Total inventories⁽¹⁾	$	145.7		$	174.2


⁽¹⁾	The balance at December 31, 2015 includes $12.9 related to our dry cooling business. As previously noted, the assets and liabilities of the dry cooling business have been classified as “held for sale” in the accompanying consolidated balance sheet as of December 31, 2015. See Note 4 for information on the assets and liabilities of the dry cooling business as of December 31, 2015.

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 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, for the year ended December 31, 2016, were as follows:



	December 31, 2015			Disposition of Business ⁽²⁾			Foreign Currency Translation			December 31, 2016
HVAC segment
Gross goodwill	$	261.3		$	—		$	(2.8	)	$	258.5
Accumulated impairments	(145.2		)	—			1.0			(144.2		)
Goodwill	116.1			—			(1.8		)	114.3
Detection and Measurement segment
Gross goodwill	219.1			—			(4.7		)	214.4
Accumulated impairments	(138.0		)	—			3.8			(134.2		)
Goodwill	81.1			—			(0.9		)	80.2
Engineered Solutions segment
Gross goodwill	391.6			(36.1		)	(4.1		)	351.4
Accumulated impairments	(235.3		)	25.9			3.9			(205.5		)
Goodwill ⁽¹⁾	156.3			(10.2		)	(0.2		)	145.9
Total
Gross goodwill	872.0			(36.1		)	(11.6		)	824.3
Accumulated impairments	(518.5		)	25.9			8.7			(483.9		)
Goodwill ⁽¹⁾	$	353.5		$	(10.2	)	$	(2.9	)	$	340.4


⁽¹⁾	The balance at December 31, 2015 includes $10.7 related to our dry cooling business. As previously noted, the assets and liabilities of the dry cooling business have been classified as “held for sale” in the accompanying consolidated balance sheet as of December 31, 2015. See Note 4 for information on the assets and liabilities of the dry cooling business as of December 31, 2015.


⁽²⁾	Represents goodwill allocated to our dry cooling business upon its disposition.

The changes in the carrying amount of goodwill, by reportable segment, for the year ended December 31, 2015, were as follows:



	December 31, 2014			Impairments		Foreign Currency Translation			December 31, 2015
HVAC segment
Gross goodwill	$	267.5		$	—	$	(6.2	)	$	261.3
Accumulated impairments	(147.9		)	—		2.7			(145.2		)
Goodwill	119.6			—		(3.5		)	116.1
Detection and Measurement segment
Gross goodwill	220.2			—		(1.1		)	219.1
Accumulated impairments	(139.1		)	—		1.1			(138.0		)
Goodwill	81.1			—		—			81.1
Engineered Solutions segment
Gross goodwill	402.0			—		(10.4		)	391.6
Accumulated impairments	(243.5		)	—		8.2			(235.3		)
Goodwill ⁽¹⁾	158.5			—		(2.2		)	156.3
Total
Gross goodwill	889.7			—		(17.7		)	872.0
Accumulated impairments	(530.5		)	—		12.0			(518.5		)
Goodwill ⁽¹⁾	$	359.2		$	—	$	(5.7	)	$	353.5


⁽¹⁾	As previously noted, the balance at December 31, 2015 includes $10.7 related to our dry cooling business.

Schedule of identifiable intangible assets

Identifiable intangible assets were as follows:



	December 31, 2016							December 31, 2015
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Intangible assets with determinable lives:
Customer relationships ⁽¹⁾	$	1.4	$	(1.4	)	$	—	$	25.4	$	(9.5	)	$	15.9
Technology ^{(1) (2)}	2.1		(0.4		)	1.7		40.7		(25.2		)	15.5
Patents	4.5		(4.5		)	—		4.6		(4.6		)	—
Other	12.7		(7.4		)	5.3		14.2		(8.1		)	6.1
	20.7		(13.7		)	7.0		84.9		(47.4		)	37.5
Trademarks with indefinite lives ^{(1) (2)}	110.9		—			110.9		125.0		—			125.0
Total⁽³⁾	$	131.6	$	(13.7	)	$	117.9	$	209.9	$	(47.4	)	$	162.5


⁽¹⁾	As noted below, we recorded impairment charges of $30.1 during 2016 related to the customer relationships, technology and trademarks of our Heat Transfer business.

⁽²⁾


⁽³⁾	Changes in the gross carrying value of “Other Intangibles, Net” during the year ended December 31, 2016 related to the sale of our dry cooling business, the impairment charges related to the Heat Transfer intangibles noted above, and, to a lesser extent, foreign currency translation.

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2016

Pension plans

Schedule of the fair value of plan assets by asset class

The fair values of pension plan assets at December 31, 2016, by asset class, were as follows:



	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset class:
Debt securities:
Fixed income common trust funds ^{(1) (2)}	$	163.1	$	—	$	163.1	$	—
Corporate bonds	29.1		—		29.1		—
Non-U.S. Government securities	39.0		—		39.0		—
U.S. Government securities	31.1		—		31.1		—
Equity securities:
Global equity common trust funds ⁽¹⁾ ⁽³⁾	57.6		—		57.6		—
Global equities:	13.2		—		13.2		—
Alternative investments:
Commingled global fund allocations ⁽¹⁾ ⁽⁴⁾	80.6		—		80.6		—
Other:
Short-term investments ⁽⁵⁾	10.5		10.5		—		—
Other	1.0		—		—		1.0
Total	$	425.2	$	10.5	$	413.7	$	1.0

The fair values of pension plan assets at December 31, 2015, by asset class, were as follows:



	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset class:
Debt securities:
Fixed income common trust funds ^{(1) (2)}	$	163.4	$	13.2	$	150.2	$	—
Corporate bonds	36.0		—		36.0		—
Non-U.S. Government securities	27.4		—		27.4		—
U.S. Government securities	8.8		—		8.8		—
Equity securities:
Global equity common trust funds ⁽¹⁾ ⁽³⁾	89.0		13.6		75.4		—
Alternative investments:
Commingled global fund allocations ⁽¹⁾ ⁽⁴⁾	45.4		22.8		22.6		—
Other:
Short-term investments ⁽⁵⁾	71.7		14.2		57.5		—
Other	1.0		—		—		1.0
Total	$	442.7	$	63.8	$	377.9	$	1.0

⁽¹⁾


⁽²⁾	This class represents investments in actively managed common trust funds that invest in a variety of fixed income investments, which may include corporate bonds, both U.S. and non-U.S. municipal securities, interest rate swaps, options and futures.


⁽³⁾	This class represents investments in actively managed common trust funds that invest primarily in equity securities, which may include common stocks, options and futures.


⁽⁴⁾	This class represents investments in actively managed common trust funds with investments in both equity and debt securities. The investments may include common stock, corporate bonds, U.S. and non-U.S. municipal securities, interest rate swaps, options and futures.


⁽⁵⁾	Short-term investments are valued at $1.00/unit, which approximates fair value. Amounts are generally invested in actively managed common trust funds or interest-bearing accounts.

Schedule of changes in the fair value of Level 3 assets

The following table summarizes changes in the fair value of Level 3 assets for the years ended December 31, 2016 and 2015:



	Global Equity Common Trust Funds			Commingled Global Fund Allocations		Fixed Income Common Trust Funds		Other			Total
Balance at December 31, 2014	$	4.9		$	—	$	—	$	5.2		$	10.1
Spin-Off of SPX FLOW	—			—		—		(4.1		)	(4.1		)
Transfer from Level 3 to Level 2 assets	(4.9		)	—		—		—			(4.9		)
Sales	—			—		—		(0.1		)	(0.1		)
Balance at December 31, 2015	—			—		—		1.0			1.0
Transfer from Level 3 to Level 2 assets	—			—		—		—			—
Sales	—			—		—		—			—
Balance at December 31, 2016	$	—		$	—	$	—	$	1.0		$	1.0

Schedule of estimated minimum benefit payments

Following is a summary, as of December 31, 2016, of the estimated future benefit payments for our pension plans in each of the next five fiscal years and in the aggregate for five fiscal years thereafter. Benefit payments are paid from plan assets or directly by us for our non-funded plans. The expected benefit payments are estimated based on the same assumptions used at December 31, 2016 to measure our obligations and include benefits attributable to estimated future employee service.

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

	Domestic Pension Benefits		Foreign Pension Benefits
2017	$	23.2	$	3.8
2018	23.2		4.4
2019	22.3		5.1
2020	23.5		4.9
2021	23.4		5.0
Subsequent five years	113.7		31.5

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



	Domestic Pension Plans						Foreign Pension Plans
	2016			2015			2016			2015
Change in plan assets:
Fair value of plan assets — beginning of year	$	279.2		$	305.7		$	163.5		$	186.7
Actual return on plan assets	19.5			(15.3		)	25.6			(0.8		)
Contributions (employer and employee)	10.0			12.3			0.5			5.5
Settlements	(36.4		)	(6.0		)	—			—
Benefits paid	(10.4		)	(17.5		)	(6.1		)	(9.1		)
Foreign exchange and other	—			—			(20.2		)	(14.7		)
Spin-Off of SPX FLOW	—			—			—			(4.1		)
Fair value of plan assets — end of year	$	261.9		$	279.2		$	163.3		$	163.5
Funded status at year-end	(86.2		)	(91.9		)	5.7			7.8
Amounts recognized in the consolidated balance sheets consist of:
Other assets	$	—		$	—		$	6.3		$	15.2
Liabilities of discontinued operations - current	—			—			—			(0.3		)
Accrued expenses	(5.9		)	(9.6		)	—			—
Liabilities of discontinued operations - non current	—			—			—			(6.9		)
Other long-term liabilities	(80.3		)	(82.3		)	(0.6		)	(0.2		)
Net amount recognized	$	(86.2	)	$	(91.9	)	$	5.7		$	7.8
Amount recognized in accumulated other comprehensive income (pre-tax) consists of — net prior service credits	$	(0.7	)	$	(0.9	)	$	—		$	—

The following tables show the domestic and foreign pension plans’ funded status and amounts recognized in our consolidated balance sheets:



	Domestic Pension Plans						Foreign Pension Plans
	2016			2015			2016			2015
Change in projected benefit obligation:
Projected benefit obligation — beginning of year	$	371.1		$	455.3		$	155.7		$	239.6
Divestiture of Balcke Dürr ⁽¹⁾	—			—			(6.7		)	—
Spin-Off of SPX FLOW ⁽²⁾	—			(64.5		)	—			(60.1		)
Service cost	0.4			2.5			—			1.3
Interest cost	13.9			16.5			5.6			7.7
Actuarial (gains) losses	9.5			(9.2		)	27.4			(6.1		)
Settlements ⁽³⁾	(36.4		)	(6.0		)	—			—
Curtailment gain ⁽⁴⁾	—			(5.1		)	—			—
Plan amendment	—			(0.9		)	—			—
Benefits paid	(10.4		)	(17.5		)	(6.4		)	(12.1		)
Foreign exchange and other	—			—			(18.0		)	(14.6		)
Projected benefit obligation — end of year	$	348.1		$	371.1		$	157.6		$	155.7

___________________________________________________________________


⁽¹⁾	Represents the transfer of Balcke Dürr’s pension liabilities as a result of the sale.


⁽²⁾	Represents the transfer to SPX FLOW of the “Top Management Plan” obligation related to SPX FLOW’s executive officers and the impact of transferring foreign defined benefit plans sponsored by SPX FLOW.


⁽³⁾	Amount in 2016 includes settlement payments of $27.9 in connection with lump-sum payment actions for the U.S. Plan and the SIARP.


⁽⁴⁾	Represents a curtailment gain recorded during the third quarter of 2015 in connection with the amendment of the U.S. Plan and SIARP previously noted.

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

The following is information about our pension plans that had accumulated benefit obligations in excess of the fair value of their plan assets at December 31, 2016 and 2015:



	Domestic Pension Plans				Foreign Pension Plans
	2016		2015		2016		2015
Projected benefit obligation	$	348.1	$	371.1	$	43.8	$	7.4
Accumulated benefit obligation	347.9		370.8		43.8		7.4
Fair value of plan assets	261.9		279.2		43.2		—

Schedule of actuarial assumptions used in accounting for pension plans

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



	Year ended December 31,
	2016		2015		2014
Domestic Pension Plans
Weighted-average actuarial assumptions used in determining net periodic pension expense:
Discount rate	4.06	%	4.09	%	4.54	%
Rate of increase in compensation levels	3.75	%	3.75	%	3.75	%
Expected long-term rate of return on assets	5.00	%	5.75	%	6.76	%
Weighted-average actuarial assumptions used in determining year-end benefit obligations:
Discount rate	3.98	%	4.24	%	3.90	%
Rate of increase in compensation levels	3.75	%	3.75	%	3.75	%
Foreign Pension Plans
Weighted-average actuarial assumptions used in determining net periodic pension expense:
Discount rate	3.82	%	3.68	%	4.23	%
Rate of increase in compensation levels	N/A		4.00	%	3.92	%
Expected long-term rate of return on assets	4.57	%	5.81	%	5.78	%
Weighted-average actuarial assumptions used in determining year-end benefit obligations:
Discount rate	2.97	%	3.82	%	3.31	%
Rate of increase in compensation levels	N/A		4.00	%	3.87	%

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

Domestic Pension Plans



	Actual Allocations				Mid-point of Target Allocation Range
	2016		2015		2016
Fixed income common trust funds	44	%	54	%	50	%
Commingled global fund allocation	19	%	16	%	18	%
Corporate bonds	11	%	13	%	12	%
Global equity common trust funds	12	%	11	%	5	%
U.S. Government securities	12	%	3	%	13	%
Short-term investments ⁽¹⁾	2	%	2	%	—
Other ⁽²⁾	—	%	1	%	2	%
Total	100	%	100	%	100	%

___________________________________________________________________


⁽¹⁾	Short-term investments are generally invested in actively managed common trust funds or interest-bearing accounts.


⁽²⁾	Assets included in this class at December 31, 2015 are comprised primarily of insurance contracts, private equity and publicly traded real estate trusts.

Schedule of net periodic benefit (income) expense

Net periodic pension benefit expense (income) for our domestic and foreign pension plans included the following components:

Domestic Pension Plans



	Year ended December 31,
	2016			2015			2014
Service cost	$	0.4		$	2.5		$	7.1
Interest cost	13.9			16.5			19.9
Expected return on plan assets	(12.9		)	(18.0		)	(19.5		)
Amortization of unrecognized prior service credits	(0.2		)	(0.1		)	—
Recognized net actuarial losses ⁽¹⁾	3.2			18.9			50.9
Total net periodic pension benefit expense	$	4.4		$	19.8		$	58.4

___________________________________________________________________

⁽¹⁾

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

Foreign Pension Plans



	Actual Allocations				Mid-point of Target Allocation Range
	2016		2015		2016
Global equity common trust funds	16	%	35	%	13	%
Global Equities	8	%	—	%	7	%
Fixed income common trust funds	30	%	8	%	39	%
Commingled global fund allocation	20	%	—	%	22	%
Non-U.S. Government securities	24	%	17	%	15	%
Short-term investments ⁽¹⁾	2	%	40	%	4	%
Total	100	%	100	%	100	%

___________________________________________________________________

⁽¹⁾

Schedule of net periodic benefit (income) expense

Foreign Pension Plans



	Year ended December 31,
	2016			2015			2014
Service cost	$	—		$	1.3		$	2.6
Interest cost	5.6			7.7			13.8
Expected return on plan assets	(6.6		)	(9.7		)	(17.6		)
Settlement loss ⁽¹⁾	—			—			15.0
Recognized net actuarial losses ⁽²⁾	8.2			3.8			25.0
Total net periodic pension benefit expense	7.2			3.1			38.8
Less: Net periodic pension expense of discontinued operations	(0.2		)	(2.2		)	(11.9		)
Net periodic pension benefit expense of continuing operations	$	7.0		$	0.9		$	26.9

___________________________________________________________________


⁽¹⁾	Includes the settlement loss recorded in connection with the transfer of the pension obligation for the retirees of the U.K. Plan to Just Retirement.


⁽²⁾	Consists of our reported actuarial losses and the difference between actual and expected returns on plan assets.

Postretirement Plans

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

The following tables show the postretirement plans’ funded status and amounts recognized in our consolidated balance sheets:



	Postretirement Benefits
	2016			2015
Change in accumulated postretirement benefit obligation:
Accumulated postretirement benefit obligation — beginning of year	$	120.8		$	130.2
Service cost	—			0.1
Interest cost	4.2			4.4
Actuarial (gains) losses	0.6			(4.0		)
Benefits paid	(10.3		)	(9.4		)
Settlement gain	—			(1.8		)
Transfer to SPX FLOW of the life insurance obligations related to SPX FLOW executive officers	—			(3.2		)
Plan amendment and other	—			4.5
Accumulated postretirement benefit obligation — end of year	$	115.3		$	120.8
Funded status at year-end	$	(115.3	)	$	(120.8	)
Amounts recognized in the consolidated balance sheets consist of:
Accrued expenses	$	(11.7	)	$	(12.0	)
Other long-term liabilities	(103.6		)	(108.8		)
Net amount recognized	$	(115.3	)	$	(120.8	)
Amount recognized in accumulated other comprehensive income (pre-tax) consists of — net prior service credits	$	(5.9	)	$	(6.7	)

Schedule of net periodic benefit (income) expense

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



	Year ended December 31,
	2016			2015			2014
Service cost	$	—		$	0.1		$	0.4
Interest cost	4.2			4.4			5.3
Amortization of unrecognized prior service credits	(0.8		)	(0.8		)	(0.3		)
Settlement gain	—			(1.8		)	—
Recognized net actuarial (gains) losses	0.6			(4.0		)	14.2
Net periodic postretirement benefit expense (income)	$	4.0		$	(2.1	)	$	19.6

Schedule of estimated future benefit payments and expected federal subsidies

Following is a summary, as of December 31, 2016, of the estimated future benefit payments for our postretirement plans in each of the next five fiscal years and in the aggregate for five fiscal years thereafter. The expected benefit payments are estimated based on the same assumptions used at December 31, 2016 to measure our obligations and include benefits attributable to estimated future employee service.



	Postretirement Payments
2017	$	11.9
2018	11.2
2019	10.6
2020	9.8
2021	9.1
Subsequent five years	36.0

Schedule of actuarial assumptions used in accounting for plans

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



	Year ended December 31,
	2016		2015		2014
Assumed health care cost trend rates:
Health care cost trend rate for next year	7.50	%	6.60	%	6.79	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	5.00	%	5.00	%	5.00	%
Year that the rate reaches the ultimate trend rate	2027		2024		2024
Discount rate used in determining net periodic postretirement benefit expense	3.88	%	3.53	%	4.23	%
Discount rate used in determining year-end postretirement benefit obligation	3.69	%	3.88	%	3.55	%

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

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

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



	Year ended December 31,
	2016			2015			2014
Income (loss) from continuing operations:
United States	$	14.0		$	(14.2	)	$	366.2
Foreign	25.4			(140.1		)	(114.1		)
	$	39.4		$	(154.3	)	$	252.1
(Provision for) benefit from income taxes:
Current:
United States	$	(4.3	)	$	10.9		$	(200.1	)
Foreign	(4.8		)	(3.3		)	(16.5		)
Total current	(9.1		)	7.6			(216.6		)
Deferred and other:
United States	0.2			(10.7		)	95.7
Foreign	(0.2		)	5.8			(16.6		)
Total deferred and other	—			(4.9		)	79.1
Total (provision) benefit	$	(9.1	)	$	2.7		$	(137.5	)

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

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



	Year ended December 31,
	2016		2015		2014
Tax at U.S. federal statutory rate	35.0	%	35.0	%	35.0	%
State and local taxes, net of U.S. federal benefit	5.0	%	(0.1	)%	2.7	%
U.S. credits and exemptions	(12.9	)%	1.5	%	(1.3	)%
Foreign earnings/losses taxed at lower rates	(5.9	)%	(9.0	)%	9.2	%
Audit settlements with taxing authorities	—	%	0.7	%	(4.7	)%
Adjustments to uncertain tax positions	(1.9	)%	(5.4	)%	(1.7	)%
Changes in valuation allowance	17.4	%	(18.8	)%	13.4	%
Tax on distributions of foreign earnings	0.7	%	(0.2	)%	4.5	%
Goodwill impairment and basis adjustments	—	%	(2.4	)%	(2.4	)%
Disposition of dry cooling business	(15.6	)%	—	%	—	%
Other	1.3	%	0.4	%	(0.2	)%
	23.1	%	1.7	%	54.5	%

Schedule of significant components of deferred tax assets and liabilities

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



	As of December 31,
	2016			2015 ⁽¹⁾
Deferred tax assets:
NOL and credit carryforwards	$	78.2		$	85.3
Pension, other postretirement and postemployment benefits	77.2			80.3
Payroll and compensation	22.8			28.8
Legal, environmental and self-insurance accruals	35.1			40.6
Working capital accruals	16.4			15.8
Other	20.7			21.1
Total deferred tax assets	250.4			271.9
Valuation allowance	(75.8		)	(70.9		)
Net deferred tax assets	174.6			201.0
Deferred tax liabilities:
Intangible assets recorded in acquisitions	68.3			81.6
Basis difference in affiliates	10.6			10.3
Accelerated depreciation	40.6			38.9
Other	6.6			23.6
Total deferred tax liabilities	126.1			154.4
	$	48.5		$	46.6


⁽¹⁾	Represents deferred tax assets and liabilities related to both continuing and discontinued operations, with net deferred tax assets associated with discontinued operations totaling $4.1.

Schedule of changes in the balance of unrecognized tax benefits

The aggregate changes in the balance of unrecognized tax benefits for the years ended December 31, 2016, 2015 and 2014 were as follows:



	Year ended December 31,
	2016			2015			2014
Unrecognized tax benefit — opening balance	$	48.8		$	63.3		$	128.4
Gross increases — tax positions in prior period	3.6			14.1			3.7
Gross decreases — tax positions in prior period	(9.3		)	(7.6		)	(36.9		)
Gross increases — tax positions in current period	0.7			11.3			11.7
Settlements	—			—			(28.2		)
Lapse of statute of limitations	(5.9		)	(4.4		)	(14.7		)
Gross decreases — Spin-Off	—			(26.7		)	—
Change due to foreign currency exchange rates	—			(1.2		)	(0.7		)
Unrecognized tax benefit — ending balance	$	37.9		$	48.8		$	63.3

Indebtedness (Tables)

12 Months Ended

Dec. 31, 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 year ended December 31, 2016:



	December 31, 2015		Borrowings		Repayments			Other ⁽⁴⁾		December 31, 2016
Revolving loans	$	—	$	56.2	$	(56.2	)	$	—	$	—
Term loans ⁽¹⁾	348.0		—		(8.8		)	0.4		339.6
Trade receivables financing arrangement ⁽²⁾	—		72.0		(72.0		)	—		—
Other indebtedness ⁽³⁾	23.8		33.5		(43.6		)	2.9		16.6
Total debt	371.8		$	161.7	$	(180.6	)	$	3.3	356.2
Less: short-term debt	22.1									14.8
Less: current maturities of long-term debt	9.1									17.9
Total long-term debt	$	340.6								$	323.5

_____________________________________________________________


⁽¹⁾	The term loan is repayable in quarterly installments of 5.0% annually, beginning in the third fiscal quarter of 2016. The remaining balance is repayable in full on September 24, 2020. Balances are net of unamortized debt issuance costs of $1.6 and $2.0 at December 31, 2016 and December 31, 2015, respectively. See Note 3 for additional details.


⁽²⁾	Under this arrangement, we can borrow, on a continuous basis, up to $50.0, as available. At December 31, 2016, we had $39.9 of available borrowing capacity under this facility.

⁽³⁾


⁽⁴⁾	“Other” primarily includes debt assumed, foreign currency translation on any debt instruments denominated in currencies other than the U.S. dollar, and the impact of amortization of debt issuance costs associated with the term loan.

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

The per annum fees charged and the interest rate margins applicable to Eurodollar and alternate base rate loans are as follows:



Consolidated Leverage Ratio	Domestic Revolving Commitment Fee		Global Revolving Commitment Fee		Letter of Credit Fee		Foreign Credit Commitment Fee		Foreign Credit Instrument Fee		LIBOR Rate Loans		ABR Loans
Greater than or equal to 3.00 to 1.0	0.350	%	0.350	%	2.000	%	0.350	%	1.250	%	2.000	%	1.000	%
Between 2.00 to 1.0 and 3.00 to 1.0	0.300	%	0.300	%	1.750	%	0.300	%	1.000	%	1.750	%	0.750	%
Between 1.50 to 1.0 and 2.00 to 1.0	0.275	%	0.275	%	1.500	%	0.275	%	0.875	%	1.500	%	0.500	%
Between 1.00 to 1.0 and 1.50 to 1.0	0.250	%	0.250	%	1.375	%	0.250	%	0.800	%	1.375	%	0.375	%
Less than 1.00 to 1.0	0.225	%	0.225	%	1.250	%	0.225	%	0.750	%	1.250	%	0.250	%

Shareholders' Equity and Long-Term Incentive Compensation (Tables)

12 Months Ended

Dec. 31, 2016

SHAREHOLDERS' EQUITY AND STOCK-BASED COMPENSATION

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

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



	Year ended December 31,
	2016			2015			2014
Numerator:
Income (loss) from continuing operations	$	30.3		$	(151.6	)	$	114.6
Less: Net loss attributable to noncontrolling interests	(0.4		)	(33.4		)	(11.7		)
Adjustment related to redeemable noncontrolling interest (Note13)	(18.1		)	—			—
Income (loss) from continuing operations attributable to SPX Corporation common shareholders for calculating basic and diluted income per share	$	12.6		$	(118.2	)	$	126.3
Income (loss) from discontinued operations, net of tax	$	(97.9	)	$	34.6		$	269.3
Less: Net income (loss) attributable to noncontrolling interest	—			(0.9		)	2.2
Income (loss) from discontinued operations attributable to SPX Corporation common shareholders for calculating basic and diluted income per share	$	(97.9	)	$	35.5		$	267.1
Denominator:
Weighted-average number of common shares used in basic income per share	41.610			40.733			42.400
Dilutive securities — Employee stock options, restricted stock shares and restricted stock units	0.551			—			0.631
Weighted-average number of common shares and dilutive securities used in diluted income per share	42.161			40.733			43.031

Summary of common shares issued, treasury shares and shares outstanding

Common shares issued, treasury shares and shares outstanding are summarized in the table below.



	Common Stock Issued		Treasury Stock		Shares Outstanding
December 31, 2013	99.801		(54.520	)	45.281
Share repurchases	—		(4.852	)	(4.852	)
Restricted stock shares and restricted stock units	0.096		0.166		0.262
Other	0.167		—		0.167
December 31, 2014	100.064		(59.206	)	40.858
Restricted stock shares and restricted stock units	0.102		0.096		0.198
Other	0.360		—		0.360
December 31, 2015	100.526		(59.110	)	41.416
Restricted stock shares and restricted stock units	0.042		0.295		0.337
Retirement of treasury stock	(50.000	)	50.000		—
Other	0.187		—		0.187
December 31, 2016	50.755		(8.815	)	41.940

Schedule of assumptions to determine the fair value of restricted stock awards granted

We used the following assumptions in determining the fair value of these awards:



	Annual Expected Stock Price Volatility		Annual Expected Dividend Yield		Risk-Free Interest Rate		Correlation Between Total Shareholder Return for SPX and the Applicable S&P Index
March 2, 2016
SPX Corporation	36.91	%	—	%	0.97	%	0.3354
S&P 600 Capital Goods Index	32.94	%	n/a		0.97	%
January 2, 2014:
SPX Corporation	33.7	%	1.02	%	0.76	%	0.7631
S&P Composite 1500 Industrials Index	19.9	%	n/a		0.76	%

Schedule of restricted stock share and restricted stock unit activity

The following table summarizes the PSU, RSU, and RS activity from December 31, 2013 through December 31, 2016:



	Unvested PSU’s, RSU’s, and RS’s		Weighted-Average Grant-Date Fair Value Per Share
December 31, 2013	1.537		$	58.39
Granted	0.519		86.99
Vested	(0.604	)	59.49
Forfeited	(0.284	)	63.76
December 31, 2014	1.168		69.22
Pre-spin:
Granted	0.451		81.60
Vested	(0.262	)	78.71
Canceled	(0.212	)	52.67
Impact of Spin-Off:
Terminations	(0.785	)	*
Conversions	1.010		*
Post-spin
Granted	0.510		12.32
Canceled	(0.011	)	20.34
December 31, 2015	1.869		17.63
Granted	0.423		13.97
Vested	(0.528	)	10.32
Forfeited	(0.062	)	20.46
December 31, 2016	1.702		$	16.47

Schedule of assumptions used to estimate fair value of stock option grants

The fair value of each option grant was estimated using a Black-Scholes option-pricing model with the following assumptions:



	March 2, 2016		October 14 2015
Annual expected stock price volatility	30.06	%	27.86	%
Annual expected dividend yield	—	%	—	%
Risk-free interest rate	1.50	%	1.64	%
Expected life of stock option (in years)	6.0		6.0

Schedule of stock option activity

The following table shows stock option activity from December 31, 2013 through December 31, 2016.



	Shares		Weighted- Average Exercise Price
Options outstanding and exercisable at December 31, 2013	—		$	—
No activity	—		—
Options outstanding and exercisable at December 31, 2014	—		—
Granted pre-spin	0.323		85.87
Impact of Spin-Off:
Terminations	(0.282	)	85.87
Conversions	0.123		*
Granted post-spin	0.883		12.36
Options outstanding and exercisable at December 31, 2015	1.047		12.91
Granted	0.505		12.85
Options outstanding and exercisable at December 31, 2016	1.552		$	12.89

Schedule of changes in the components of accumulated other comprehensive income

The changes in the components of accumulated other comprehensive income, net of tax, for the year ended December 31, 2016 were as follows:



	Foreign Currency Translation Adjustment			Net Unrealized Gains (Losses) on Qualifying Cash Flow Hedges(2)			Pension and Postretirement Liability Adjustment and Other(3)			Total
December 31, 2015	$	280.6		$	(1.8	)	$	4.5		$	283.3
Other comprehensive income (loss) before reclassifications	(11.9		)	1.1			—			(10.8		)
Amounts reclassified from accumulated other comprehensive income ⁽¹⁾	(39.0		)	2.2			(0.6		)	(37.4		)
Current-period other comprehensive income (loss)	(50.9		)	3.3			(0.6		)	(48.2		)
December 31, 2016	$	229.7		$	1.5		$	3.9		$	235.1

___________________________________________________________________

⁽¹⁾


⁽²⁾	Net of tax (provision) benefit of $(0.9) and $0.8 as of December 31, 2016 and 2015, respectively.


⁽³⁾	Net of tax provision of $2.7 and $3.1 as of December 31, 2016 and 2015, respectively. The balances as of December 31, 2016 and 2015 include unamortized prior service credits.

The changes in the components of accumulated other comprehensive income, net of tax, for the year ended December 31, 2015 were as follows:



	Foreign Currency Translation Adjustment			Net Unrealized Losses on Qualifying Cash Flow Hedges(1)			Pension and Postretirement Liability Adjustment and Other(2)			Total
Balance at December 31, 2014	$	59.0		$	(1.3	)	$	4.9		$	62.6
Other comprehensive income (loss) before reclassifications	(132.9		)	(1.8		)	0.5			(134.2		)
Amounts reclassified from accumulated other comprehensive income	—			1.2			(0.9		)	0.3
Current-period other comprehensive loss	(132.9		)	(0.6		)	(0.4		)	(133.9		)
Spin-Off of FLOW Business	354.5			0.1			—			354.6
Balance at December 31, 2015	$	280.6		$	(1.8	)	$	4.5		$	283.3

___________________________________________________________________


⁽¹⁾	Net of tax benefit of $0.8 and $1.1 as of December 31, 2015 and 2014, respectively.


⁽²⁾	Net of tax provision of $3.1 and $3.0 as of December 31, 2015 and 2014, respectively. The balances as of December 31, 2015 and 2014 include unamortized prior service credits.

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

The following summarizes amounts reclassified from each component of accumulated comprehensive income for the years ended December 31, 2016 and 2015:



	Amount Reclassified from AOCI						Affected Line Items in the Consolidated Statements of Operations
	Year ended December 31,
	2016			2015
Losses on qualifying cash flow hedges:
FX forward contracts	$	1.0		$	(0.6	)	Revenues
Commodity contracts	2.0			2.8			Cost of products sold
Pre-tax	3.0			2.2
Income taxes	(0.8		)	(1.0		)
	$	2.2		$	1.2
Pension and postretirement items:
Amortization of unrecognized prior service credits - Pre-tax	$	(1.0	)	$	(1.1	)	Selling, general and administrative
Income taxes	0.4			0.2
	$	(0.6	)	$	(0.9	)

Recognition of foreign currency translation adjustments related to business dispositions:
Recognition of foreign currency translation adjustment associated with the sale of our dry cooling business	$	(40.4	)	$	—		Gain on sale of dry cooling business
Recognition of foreign currency translation adjustment associated with the sale our Balcke Dürr business	1.4			—			Gain (loss) on disposition of discontinued operations, net of tax
	$	(39.0	)	$	—

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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=65877616&loc=d3e177068-122764

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21553-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65888546&loc=d3e21300-112643

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of quarterly results



	First ⁽⁵⁾⁽⁶⁾						Second ⁽⁵⁾						Third ⁽⁵⁾						Fourth ⁽⁶⁾
	2016			2015			2016			2015			2016			2015			2016			2015
Operating revenues ⁽¹⁾	$	360.6		$	345.9		$	371.4		$	410.6		$	345.0		$	334.1		$	395.3		$	468.4
Gross profit (loss) ⁽¹⁾	89.9			70.4			91.1			86.7			80.8			(2.7		)	114.0			121.5
Income (loss) from continuing operations, net of tax ⁽²⁾	20.2			(33.9		)	6.5			(11.4		)	6.6			(122.7		)	(3.0		)	16.4
Income (loss) from discontinued operations, net of tax ⁽³⁾	(6.6		)	23.9			(3.5		)	47.8			(4.7		)	(8.0		)	(83.1		)	(29.1		)
Net income (loss)	13.6			(10.0		)	3.0			36.4			1.9			(130.7		)	(86.1		)	(12.7		)
Less: Net income (loss) attributable to noncontrolling interests ⁽¹⁾	0.6			(2.9		)	(1.0		)	(2.6		)	—			(25.6		)	—			(3.2		)
Net income (loss) attributable to SPX Corporation common shareholders	13.0			(7.1		)	4.0			39.0			1.9			(105.1		)	(86.1		)	(9.5		)
Adjustment related to redeemable noncontrolling interest ⁽⁴⁾	—			—			(18.1		)	—			—			—			—			—
Net income (loss) attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest	$	13.0		$	(7.1	)	$	(14.1	)	$	39.0		$	1.9		$	(105.1	)	$	(86.1	)	$	(9.5	)
Basic income (loss) per share of common stock:
Continuing operations, net of tax	$	0.47		$	(0.77	)	$	(0.25	)	$	(0.23	)	$	0.16		$	(2.39	)	$	(0.07	)	$	0.48
Discontinued operations, net of tax	(0.16		)	0.59			(0.09		)	1.19			(0.12		)	(0.19		)	(1.99		)	(0.71		)
Net income (loss)	$	0.31		$	(0.18	)	$	(0.34	)	$	0.96		$	0.04		$	(2.58	)	$	(2.06	)	$	(0.23	)
Diluted income (loss) per share of common stock:
Continuing operations, net of tax	$	0.47		$	(0.77	)	$	(0.25	)	$	(0.23	)	$	0.16		$	(2.39	)	$	(0.07	)	$	0.47
Discontinued operations, net of tax	(0.16		)	0.59			(0.09		)	1.19			(0.12		)	(0.19		)	(1.99		)	(0.70		)
Net income (loss)	$	0.31		$	(0.18	)	$	(0.34	)	$	0.96		$	0.04		$	(2.58	)	$	(2.06	)	$	(0.23	)

___________________________________________________________________

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

⁽¹⁾


⁽²⁾	During the fourth quarter of 2016 and 2015, we recognized pre-tax actuarial losses of $10.2 and $9.6, respectively, associated with our pension and postretirement benefit plans. See Note 9 for additional details.

During the second quarter of 2016, we recognized pre-tax actuarial losses of $1.8 associated with our pension and postretirement benefit plans. See Note 9 for additional details.


⁽³⁾	During the fourth quarter of 2016, we recorded a net loss on the sale of Balcke Dürr of $78.6. See Note 4 for additional details.

⁽⁴⁾


⁽⁵⁾	During the first three quarters of 2015, there was a significant amount of general and administrative costs associated with corporate employees and other corporate support that transferred to SPX FLOW at the time of the Spin-Off and did not meet the requirements to be presented within discontinued operations.

⁽⁶⁾

Basis of Presentation and Summary of Significant Accounting Policies (Detail)
shares in Thousands, $ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2016

USD ($)

Oct. 01, 2016

USD ($)

^[2]

Jul. 02, 2016

USD ($)

^[2]

Apr. 02, 2016

USD ($)

^[1],[2]

Dec. 31, 2015

USD ($)

Sep. 26, 2015

USD ($)

^[2]

Jun. 27, 2015

USD ($)

^[2]

Mar. 28, 2015

USD ($)

^[1],[2]

Dec. 31, 2016

USD ($)

business_unit

Dec. 31, 2015

USD ($)

Dec. 31, 2014

USD ($)

Sep. 16, 2015

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Net loss incurred

$ 86.1

^[1]

$ (1.9)

$ (4.0)

$ (13.0)

$ 9.5

^[1]

$ 105.1

$ (39.0)

$ 7.1

$ 67.2

$ 82.7

$ (393.4)

Retirement of treasury stock (in shares) | shares

50,000

Foreign Currency Translation and Transactions

$ 0.0

Foreign currency transaction net losses

$ 2.4

8.6

2.6

Revenue Recognition

Number of business units in which sales incentive programs are significant | business_unit

Revenues recognized under percentage of completion method

$ 336.1

361.8

434.1

Costs and estimated earnings on uncompleted contracts

Costs incurred on uncompleted contracts

1,191.4

1,105.6

1,191.4

1,105.6

Estimated earnings to date

25.0

29.3

25.0

29.3

Aggregate costs incurred on uncompleted contracts and estimated earnings to date

1,216.4

1,134.9

1,216.4

1,134.9

Less: Billings to date

(1,235.8)

(1,153.6)

(1,235.8)

(1,153.6)

Billings in excess of costs and estimated earnings

(19.4)

(18.7)

(19.4)

(18.7)

Billings in excess of costs and estimated earnings

Costs and estimated earnings in excess of billings

^[3]

33.9

78.6

33.9

78.6

Billings in excess of costs and estimated earnings on uncompleted contracts

^[4]

(53.3)

(97.3)

(53.3)

(97.3)

Net billings in excess of costs and estimated earnings

(19.4)

(18.7)

(19.4)

(18.7)

Research and Development Costs

Capitalized software, net of amortization

$ 10.5

$ 9.9

10.5

9.9

Capitalized software amortization expense

1.2

0.2

0.5

Research and development expense

29.1

28.6

30.2

Depreciation expense, including amortization of capital leases

22.5

31.8

34.9

Interest capitalized

$ 0.0

0.0

$ 0.0

Common Stock In Treasury

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Retirement of treasury stock (in shares) | shares

50,000

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

$ (2,948.1)

Paid-In Capital

Retained Earnings (Deficit)

1,285.4

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Balcke Durr | Engineered Solutions segment

$ 1,662.2

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Net loss incurred

$ 39.6

Minimum

Period for receivables to be collected which are not significant

1 year

Buildings | Maximum

Useful lives of property, plant and equipment (in years)

40 years

Machinery and equipment | Minimum

Useful lives of property, plant and equipment (in years)

3 years

Machinery and equipment | Maximum

Useful lives of property, plant and equipment (in years)

15 years

SPX Flow, Inc | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Pro rata distribution ratio of common stock received by shareholders as of record date

Balcke Durr | Discontinued Operations, Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Percentage decline in revenue from 2014 to 2015

37.90%

[1]	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. This practice only affects the quarterly reporting periods and not the annual reporting period. We had six more days in the first quarter of 2016 and we had five fewer days in the fourth quarter of 2016 than in the respective 2015 periods.
[2]	During the first three quarters of 2015, there was a significant amount of general and administrative costs associated with corporate employees and other corporate support that transferred to SPX FLOW at the time of the Spin-Off and did not meet the requirements to be presented within discontinued operations.
[3]	Reported as a component of “Accounts receivable, net.”
[4]	Reported as a component of “Accrued expenses.”

Use of Estimates (Details)
€ in Millions, $ in Millions

12 Months Ended

Dec. 31, 2016

USD ($)

Dec. 31, 2015

USD ($)

Dec. 31, 2014

USD ($)

Dec. 30, 2016

EUR (€)

Employee benefits

$ 69.3

$ 76.8

Unearned revenue

^[1]

117.8

173.1

Warranty

15.6

17.0

$ 18.0

Analysis of product warranty accrual

^[2]

101.6

108.2

Total

304.3

^[3]

349.8

Balance at beginning of year

36.3

34.5

30.4

Provisions

15.2

18.1

21.7

Usage

(15.5)

(16.0)

(17.3)

Currency translation adjustment

(0.2)

(0.3)

Balance at end of year

35.8

36.3

34.5

Less: Current portion of warranty

15.6

17.0

18.0

Non-current portion of warranty

20.2

19.3

16.5

Allowance for Doubtful Accounts

Allowance for Doubtful Accounts Receivable [Roll Forward]

Balance at beginning of year

9.1

12.9

20.9

Allowances provided

15.7

14.0

17.4

Write-offs, net of recoveries, credits issued and other

(14.7)

(17.8)

(25.4)

Balance at end of year

$ 10.1

9.1

$ 12.9

Liabilities from Continuing Operations and Disposal Group, Held-for-sale, Not Discontinued Operations

Disposal Group, Held-for-sale | Dry Cooling Business | Liabilities Held For Sale Current

Total

^[3]

375.1

Discontinued Operations, Disposed of by Sale | Balcke Durr | Subsidiary of matures AG (the Buyer)

Total

$ 25.3

Discontinued Operations, Disposed of by Sale | Balcke Durr | Bank and Surety Bonds | Subsidiary of matures AG (the Buyer)

€ 79.0

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

€ 79.0

[1]	Unearned revenue includes billings in excess of costs and estimated earnings on uncompleted contracts accounted for under the percentage-of-completion method of revenue recognition, customer deposits and unearned amounts on service contracts.
[2]	Other consists of various items including, among other items, accrued legal costs, interest and restructuring costs, none of which is individually material.
[3]	The balance at December 31, 2015 includes $25.3 related to our dry cooling business. As indicated in Note 1, on November 20, 2015, we entered into an agreement to sell the dry cooling business. As a result, the assets and liabilities of the dry cooling business have been classified as “held for sale” in the accompanying consolidated balance sheet as of December 31, 2015. See Note 4 for information on the assets and liabilities of the dry cooling business as of December 31, 2015.

Discontinued Operations and Other Dispositions (Details)
€ in Millions, $ in Millions

3 Months Ended

12 Months Ended

Dec. 30, 2016

USD ($)

Mar. 30, 2016

USD ($)

Sep. 26, 2015

Jan. 07, 2014

USD ($)

Dec. 31, 2016

USD ($)

Oct. 01, 2016

USD ($)

Jul. 02, 2016

USD ($)

Apr. 02, 2016

USD ($)

Dec. 31, 2015

USD ($)

Sep. 26, 2015

USD ($)

^[2],[4]

Jun. 27, 2015

USD ($)

^[2],[4]

Mar. 28, 2015

USD ($)

^[2],[3],[4]

Dec. 31, 2016

USD ($)

Dec. 31, 2015

USD ($)

Dec. 31, 2014

USD ($)

Dec. 30, 2016

EUR (€)

Cash proceeds from sale (less than $0.1 for the sale of Balcke Durr)

$ 30.2

$ 108.6

Cash transferred with sale of business

0.0

$ 208.6

0.0

Income from discontinued operations and related income taxes

81.3

5.2

(13.3)

Income (loss) from discontinued operations

(16.6)

39.8

256.0

(110.7)

65.1

^[1]

360.8

Income (loss) from discontinued operations, net of tax

12.8

(30.5)

^[1]

(91.5)

$ (83.1)

^[2],[3]

$ (4.7)

^[2],[4]

$ (3.5)

^[2],[4]

$ (6.6)

^[2],[3],[4]

$ (29.1)

^[2],[3]

$ (8.0)

$ 47.8

$ 23.9

(97.9)

34.6

^[1]

269.3

Less: Net income (loss) attributable to noncontrolling interest

0.0

(0.9)

2.2

Income (loss) from discontinued operations attributable to SPX Corporation common shareholders for calculating basic and diluted income per share

(97.9)

35.5

267.1

Assets:

Assets of discontinued operations - current

0.0

84.2

0.0

84.2

Assets of discontinued operations - non current

0.0

35.8

0.0

35.8

Assets held for sale

0.0

107.1

0.0

107.1

Liabilities:

Liabilities of discontinued operations - current

0.0

73.9

0.0

73.9

Liabilities of discontinued operations - non current (includes $15.5 of “Deferred and other income taxes”)

0.0

24.0

0.0

24.0

Liabilities held for sale

0.0

41.3

0.0

41.3

Non-cash items included in income from discontinued operations, net of tax

8.1

6.8

6.3

5.4

3.3

Results of operations for discontinued operations

(110.7)

65.1

^[1]

360.8

EGS Electrical Group, LLC and Subsidiaries (EGS)

18.4

0.0

Results of operations for discontinued operations

Gain on sale of interest in joint venture

491.2

Other businesses included in discontinued operations

Income from discontinued operations and related income taxes

0.0

27.7

Income (loss) from discontinued operations, net of tax

0.0

(6.1)

0.0

(5.0)

Non-cash items included in income from discontinued operations, net of tax

Adjustment to gain or loss on sale of discontinued operations, net of tax

2.7

5.2

1.1

Results of operations for discontinued operations

0.0

27.7

ALL Other Discontinued Operations

0.0

(6.1)

Income from discontinued operations and related income taxes

(3.7)

(8.6)

^[1]

22.1

Income (loss) from discontinued operations, net of tax

1.0

3.4

^[1]

(13.8)

(2.7)

(5.2)

^[1]

8.3

Results of operations for discontinued operations

Discontinued Operations, Disposed of by Sale | EGS Electrical Group, LLC and Subsidiaries (EGS)

(3.7)

(8.6)

^[1]

22.1

Results of operations for discontinued operations

Percentage of interest held in joint venture

44.50%

Proceeds from sale of interest in joint venture

$ 574.1

Gain on sale of interest in joint venture

491.2

Discontinued Operations, Disposed of by Sale | Balcke Durr

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Income from discontinued operations and related income taxes

78.6

153.4

160.3

258.3

Costs of products sold

144.2

143.8

198.5

Impairment of intangible assets

31.4

37.9

50.6

0.0

13.7

0.0

Special charges (credits), net

(1.3)

12.7

3.4

Other expense

(0.2)

(0.9)

(2.1)

Income (loss) before taxes

(21.1)

(48.7)

3.7

Income tax (provision) benefit

4.5

9.1

(2.2)

Income (loss) from discontinued operations

(16.6)

(39.6)

1.5

(107.0)

(48.7)

^[1]

3.7

Income (loss) from discontinued operations, net of tax

11.8

9.1

^[1]

(2.2)

(95.2)

(39.6)

^[1]

1.5

Assets:

Cash and equivalents

4.2

Accounts receivable, net

61.9

Inventories, net

9.4

Other current assets

8.7

Assets of discontinued operations - current

84.2

Property, plant and equipment, net

14.2

Other assets- Deferred and other income taxes

21.6

19.6

Assets of discontinued operations - non current

35.8

Total assets - discontinued operations

120.0

Liabilities:

Accounts payable

19.9

Liabilities of discontinued operations - current

53.9

Income taxes payable

0.1

73.9

Liabilities of discontinued operations - non current (includes $15.5 of “Deferred and other income taxes”)

24.0

Other long-term liabilities- Deferred and other income taxes

15.5

Total liabilities - discontinued operations

97.9

Non-cash items included in income from discontinued operations, net of tax

Depreciation and amortization

2.0

2.2

2.8

Impairment of intangible assets

0.0

13.7

0.0

Capital expenditures

0.7

1.9

1.1

Results of operations for discontinued operations

153.4

160.3

258.3

Discontinued Operations, Disposed of by Sale | Balcke Durr | Amount Reclassified from AOCI | Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest

(107.0)

(48.7)

^[1]

3.7

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Discontinued Operations, Disposed of by Sale | Balcke Durr | Subsidiary of matures AG (the Buyer)

1.4

0.0

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Cash proceeds from sale (less than $0.1 for the sale of Balcke Durr)

$ 0.1

Cash transferred with sale of business

21.1

78.6

Discontinued Operations, Disposed of by Sale | Balcke Durr | Subsidiary of matures AG (the Buyer) | Bank and Surety Bonds

€ 79.0

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Discontinued Operations, Disposed of by Sale | Balcke Durr | Subsidiary of matures AG (the Buyer) | Guarantees and Bonds

79.0

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Discontinued Operations, Disposed of by Sale | Balcke Durr | Subsidiary of matures AG (the Buyer) | Loans Receivable

5.1

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Non-interest bearing loan provided to mutares AG

$ 9.1

Discontinued Operations, Disposed of by Sale | Balcke Durr | Subsidiary of matures AG (the Buyer) | Balcke-Durr GmbH

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Cash collateral | €

4.0

Discontinued Operations, Disposed of by Sale | Balcke Durr | Subsidiary of matures AG (the Buyer) | mutares AG | Indemnification Agreement

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Discontinued Operations, Disposed of by Sale | Fenn LLC

€ 5.0

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Cash proceeds from sale (less than $0.1 for the sale of Balcke Durr)

3.5

Discontinued Operations, Disposed of by Sale | Precision Components

0.4

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Cash proceeds from sale (less than $0.1 for the sale of Balcke Durr)

62.6

Discontinued Operations, Disposed of by Sale | TPS

6.9

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Cash proceeds from sale (less than $0.1 for the sale of Balcke Durr)

42.5

Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | SPX Flow, Inc

(21.7)

Income from discontinued operations and related income taxes

1,775.1

^[5]

2,768.4

Costs of products sold

1,179.3

^[5]

1,831.0

Special charges (credits), net

^[6]

368.2

^[5]

507.8

Intangible amortization

17.7

^[5]

26.1

41.2

^[5]

13.8

Other income (expense), net

^[7]

1.3

^[5]

(1.9)

Interest expense, net

(32.6)

^[5]

(41.1)

0.0

122.4

^[1],[5]

335.0

Income (loss) from discontinued operations, net of tax

(1.4)

0.0

(43.0)

^[1],[5]

(75.5)

0.0

79.4

^[1],[5]

259.5

Less: Net income (loss) attributable to noncontrolling interest

(0.9)

^[5]

(2.2)

Income (loss) from discontinued operations attributable to SPX Corporation common shareholders for calculating basic and diluted income per share

80.3

^[5]

261.7

Non-cash items included in income from discontinued operations, net of tax

Depreciation and amortization

44.3

^[8]

65.8

Impairment of intangible assets

15.0

^[5],[8]

11.7

Capital expenditures

43.1

^[8]

40.7

Payment of capital lease obligation

0.0

^[8]

60.8

Professional fees and other costs incurred in connection with Spin Off

30.8

3.5

Results of operations for discontinued operations

1,775.1

^[5]

2,768.4

Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | SPX Flow, Inc | Office lease associated with corporate headquarters

0.0

122.4

^[1],[5]

335.0

Non-cash items included in income from discontinued operations, net of tax

Duration of office lease agreement

5 years

2.1

2.1

2.1

2.1

$ 2.1

2.1

Discontinued Operations, Disposed of by Means Other than Sale, Spinoff | SPX Flow, Inc | Senior Notes | 6.875% senior notes, due in August 2017

Non-cash items included in income from discontinued operations, net of tax

Costs incurred to obtain consents to amend certain provisions to the indenture governing senior notes

$ 5.0

Interest rate percentage

6.875%

Disposal Group, Disposed of by Sale, Not Discontinued Operations | Dry Cooling Business

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Cash proceeds from sale (less than $0.1 for the sale of Balcke Durr)

$ 47.6

Cash transferred with sale of business

$ 3.0

Assets:

Accounts receivable, net

49.2

Inventories, net

12.9

Other current assets

13.9

Property, plant and equipment, net

3.3

10.7

8.3

8.8

107.1

Liabilities:

Accounts payable

13.7

25.3

Liabilities held for sale

2.3

$ 41.3

41.3

Results of operations for discontinued operations

Disposal Group, Disposed of by Sale, Not Discontinued Operations | Dry Cooling Business | Amount Reclassified from AOCI | Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest

$ 1.7

$ 1.2

$ 17.9

18.4

Results of operations for discontinued operations

Number of countries in which entity operates | country

$ 40.4

$ 0.0

[1]	For SPX FLOW, represents financial results through the date of Spin-Off (i.e., the nine months ended September 26, 2015), except for a revision to increase the income tax provision by $1.4 that was recorded during the fourth quarter of 2015.
[2]	During the fourth quarter of 2016, we recorded a net loss on the sale of Balcke Dürr of $78.6. See Note 4 for additional details.
[3]	We establish actual interim closing dates using a fiscal calendar, which requires our businesses to close their books on the Saturday closest to the end of the first calendar quarter, with the second and third quarters being 91 days in length. Our fourth quarter ends on December 31. The interim closing dates for the first, second and third quarters of 2016 are April 2, July 2 and October 1, compared to the respective March 28, June 27 and September 26, 2015 dates. This practice only affects the quarterly reporting periods and not the annual reporting period. We had six more days in the first quarter of 2016 and we had five fewer days in the fourth quarter of 2016 than in the respective 2015 periods.
[4]	During the first three quarters of 2015, there was a significant amount of general and administrative costs associated with corporate employees and other corporate support that transferred to SPX FLOW at the time of the Spin-Off and did not meet the requirements to be presented within discontinued operations.
[5]	Represents financial results for SPX FLOW through the date of Spin-Off (i.e., the nine months ended September 26, 2015), except for a revision to increase the income tax provision by $1.4 that was recorded during the fourth quarter of 2015.
[6]	Includes $30.8 and $3.5 for the years ended December 31, 2015 and December 31, 2014, respectively, of professional fees and other costs that were incurred in connection with the Spin-Off.
[7]	Includes, for the year ended December 31, 2014, $5.0 of costs incurred to obtain the consents required of the holders of our 6.875% senior notes to amend certain provisions of the indenture governing such senior notes, with such consent obtained in connection with the Spin-Off.
[8]	Represents financial results for SPX FLOW through the date of Spin-Off (i.e., the nine months ended September 26, 2015).

Information on Reportable Segments (Details)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2016

USD ($)

country

Oct. 01, 2016

USD ($)

^[1],[3]

Jul. 02, 2016

USD ($)

^[1],[3]

Apr. 02, 2016

USD ($)

^[1],[2],[3]

Dec. 31, 2015

USD ($)

Sep. 26, 2015

USD ($)

Jun. 27, 2015

USD ($)

^[1],[3]

Mar. 28, 2015

USD ($)

^[1],[2],[3]

Dec. 31, 2014

USD ($)

Dec. 31, 2016

USD ($)

country

segment

Dec. 31, 2015

USD ($)

Dec. 31, 2014

USD ($)

Business segment

Number of reportable segments | segment

Revenues:

$ 395.3

^[1],[2]

$ 345.0

$ 371.4

$ 360.6

$ 468.4

^[1],[2]

$ 334.1

^[1],[3]

$ 410.6

$ 345.9

$ 1,472.3

^[4]

$ 1,559.0

^[4]

$ 1,694.4

^[4]

Pension and other employee benefits

24.8

35.2

122.9

5.3

5.1

5.9

Gain (loss) on sale

18.4

0.0

55.0

(122.2)

(185.3)

11.7

16.0

19.3

26.5

37.0

40.6

1,912.5

2,179.3

$ 5,894.3

1,912.5

2,179.3

5,894.3

926.6

912.1

1,395.3

926.6

912.1

1,395.3

Revenues:

^[4]

1,235.2

1,255.4

1,302.6

China

Revenues:

^[4]

33.5

83.6

108.7

South Africa

Revenues:

^[4],[5]

105.4

54.2

109.2

United Kingdom

Revenues:

^[4]

59.1

69.6

69.2

Revenues:

^[4]

39.1

96.2

104.7

Continuing operations

Continuing operations | United States

926.6

876.3

832.1

926.6

876.3

832.1

Continuing operations | Other

897.0

835.9

796.9

897.0

835.9

796.9

29.6

40.4

35.2

29.6

40.4

35.2

Discontinued operations

0.0

120.0

3,672.5

0.0

120.0

3,672.5

Reportable and other operating segments

0.0

35.8

563.2

0.0

35.8

563.2

142.8

38.8

121.0

General corporate

Corporate expense

41.7

103.4

133.9

1.1

0.7

2.6

4.4

5.6

2.5

8.9

10.7

Segment reconciling items

390.6

371.2

449.1

390.6

371.2

449.1

Pension and other employee benefits

15.4

18.6

104.9

Long-term incentive compensation expense

13.7

33.9

32.7

Impairment of intangible and other long-term assets

30.1

0.0

28.9

5.3

5.1

5.9

Gain (loss) on sale

18.4

0.0

Revenues:

HVAC segment | Reportable and other operating segments

509.5

529.1

535.7

1.1

0.9

80.2

69.4

1.9

2.3

4.3

5.3

4.6

4.5

710.1

623.0

684.8

710.1

623.0

684.8

Revenues:

Detection and Measurement segment | Reportable and other operating segments

226.4

232.3

244.4

0.8

0.9

1.2

45.3

46.0

55.2

0.7

1.2

2.3

3.5

2.8

2.7

244.2

256.5

217.1

244.2

256.5

217.1

Revenues:

Engineered Solutions segment | Scenario, Adjustment

^[5]

736.4

797.6

914.3

Revenues:

(57.2)

Engineered Solutions segment | South Africa | Scenario, Adjustment

$ (95.0)

Revenues:

(25.0)

Engineered Solutions segment | Reportable and other operating segments

(25.0)

4.5

2.0

3.1

^[5]

17.3

(87.4)

(3.6)

6.5

8.1

7.1

15.2

20.7

22.7

Number of countries in which entity sells its products and services | country

$ 567.6

$ 808.6

$ 870.8

$ 567.6

$ 808.6

$ 870.8

Minimum

Business segment

100

[1]	During the third quarter of 2015, we revised our estimates of expected revenues and profits associated with our large power projects in South Africa. As a result of these revisions, we reduced revenue and gross profit by $57.2 and $95.0, respectively. In addition, the revision resulted in an increase to “Net loss attributable to noncontrolling interests” of $23.8. See Notes 5 and 13 for additional details.
[2]	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. This practice only affects the quarterly reporting periods and not the annual reporting period. We had six more days in the first quarter of 2016 and we had five fewer days in the fourth quarter of 2016 than in the respective 2015 periods.
[3]	During the first three quarters of 2015, there was a significant amount of general and administrative costs associated with corporate employees and other corporate support that transferred to SPX FLOW at the time of the Spin-Off and did not meet the requirements to be presented within discontinued operations.
[4]	Revenues are included in the above geographic areas based on the country that recorded the customer revenue.
[5]	As further discussed in Note 13, during the third quarter of 2015, we made revisions to our estimates of expected revenues and profits on our large power projects in South Africa. As a result of these revisions, we reduced revenue and segment income by $57.2 and $95.0, respectively, during the third quarter of 2015. During the fourth quarter of 2014, we reduced the revenues and profits on our large power projects in South Africa by $25.0 due to schedule delays and financial challenges faced by certain of our subcontractors.

Special Charges, Net (Details)
$ in Millions

12 Months Ended

Dec. 31, 2016

USD ($)

employee

Dec. 31, 2015

USD ($)

employee

Dec. 31, 2014

USD ($)

employee

Special charges, net

Period for selling an asset

1 year

Period for settling liabilities

1 year

Facility Consolidation Costs

$ 1.7

$ 4.5

$ 5.3

0.0

0.2

0.3

Other Cash Costs, Net

0.0

0.1

0.3

3.6

0.3

0.0

Balance at beginning of year

5.3

5.1

5.9

Asset impairment charges

30.1

0.0

28.9

Restructuring liabilities

1.6

1.7

0.7

Special charges

^[1]

1.7

4.8

5.9

Utilization — cash

^[2]

(2.1)

(5.1)

Currency translation adjustment and other

(0.3)

0.2

Balance at the end of year

0.9

1.6

1.7

Asset impairment charges

3.6

0.3

0.0

Discontinued operations

Restructuring liabilities

Utilization — cash

$ 0.0

0.0

(0.6)

Corporate

1.1

0.7

$ 1.1

$ 0.7

Number of employees terminated | employee

HVAC segment | Reportable and other operating segments

Facility Consolidation Costs

$ 0.9

$ 0.7

0.1

0.2

Other Cash Costs, Net

(0.2)

0.3

$ 1.1

$ 0.9

Number of employees terminated | employee

Detection and Measurement segment | Reportable and other operating segments

$ 0.5

$ 0.9

$ 1.2

0.3

$ 0.8

$ 0.9

$ 1.2

Number of employees terminated | employee

134

Number of employees expected to be terminated | employee

Engineered Solutions segment | Reportable and other operating segments

Facility Consolidation Costs

$ 1.2

$ 1.6

$ 2.7

0.1

Other Cash Costs, Net

0.3

3.3

Engineered Solutions segment | SPX Heat Transfer Business

4.5

$ 2.0

$ 3.1

Raw materials and purchased parts

Asset impairment charges

$ 3.3

[1]	The years ended December 31, 2016, 2015 and 2014 excluded $3.6, $0.3 and $0.0, respectively, of non-cash charges that impacted special charges but not the restructuring liabilities.
[2]	The years ended December 31, 2016, 2015 and 2014 included $0.0, $0.0 and $0.6 of cash utilized to settle retained liabilities of discontinued operations.

Inventories, Net (Details) - USD ($)
$ in Millions

Dec. 31, 2016

Dec. 31, 2015

Inventory [Line Items]

Finished goods

$ 43.0

$ 57.5

Work in process

50.0

53.7

64.9

75.4

Total FIFO cost

157.9

186.6

Excess of FIFO cost over LIFO inventory value

(12.2)

(12.4)

Total inventories

$ 145.7

^[1]

$ 161.3

Domestic inventories, valued using the last-in, first-out ("LIFO") method, as a percentage of total inventory

51.00%

49.00%

Assets from Continuing Operations and Disposal Group, Held-for-sale, Not Discontinued Operations

Inventory [Line Items]

Total inventories

^[1]

$ 174.2

Dry Cooling Business | Disposal Group, Held-for-sale | Assets Held For Sale, Current

Inventory [Line Items]

Total inventories

$ 12.9

[1]

The balance at December 31, 2015 includes $12.9 related to our dry cooling business. As previously noted, the assets and liabilities of the dry cooling business have been classified as “held for sale” in the accompanying consolidated balance sheet as of December 31, 2015. See Note 4 for information on the assets and liabilities of the dry cooling business as of December 31, 2015.

Goodwill and Other Intangible Assets (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Accumulated impairment, balance at the beginning of the period

$ 872.0

$ 889.7

(518.5)

(530.5)

Gross goodwill related to foreign currency translation and other

342.8

359.2

^[1]

(11.6)

(17.7)

Accumulated impairments related to foreign currency translation and other

8.7

12.0

(2.9)

^[2]

(5.7)

^[1]

Accumulated impairment, balance at the end of the period

824.3

872.0

(483.9)

(518.5)

Disposal Group, Disposed of by Sale, Not Discontinued Operations | Dry Cooling Business

340.4

^[2]

342.8

Gross goodwill, Disposition of Business

^[3]

(36.1)

Accumulated impairments, Disposition of Business

^[3]

25.9

Goodwill, Disposition of Business

^[2],[3]

(10.2)

Assets from Continuing Operations and Disposal Group, Held-for-sale, Not Discontinued Operations

^[1],[2]

353.5

Assets Held For Sale, Current | Disposal Group, Held-for-sale | Dry Cooling Business

^[1],[2]

353.5

^[2]

10.7

^[2]

10.7

Accumulated impairment, balance at the beginning of the period

261.3

267.5

(145.2)

(147.9)

Gross goodwill related to foreign currency translation and other

116.1

119.6

(2.8)

(6.2)

Accumulated impairments related to foreign currency translation and other

1.0

2.7

(1.8)

(3.5)

Accumulated impairment, balance at the end of the period

258.5

261.3

(144.2)

(145.2)

114.3

116.1

Accumulated impairment, balance at the beginning of the period

219.1

220.2

(138.0)

(139.1)

Gross goodwill related to foreign currency translation and other

81.1

(4.7)

(1.1)

Accumulated impairments related to foreign currency translation and other

3.8

1.1

(0.9)

0.0

Accumulated impairment, balance at the end of the period

214.4

219.1

(134.2)

(138.0)

80.2

81.1

Accumulated impairment, balance at the beginning of the period

391.6

402.0

(235.3)

(243.5)

Gross goodwill related to foreign currency translation and other

^[1]

156.3

^[2]

158.5

(4.1)

(10.4)

Accumulated impairments related to foreign currency translation and other

3.9

8.2

(0.2)

^[2]

(2.2)

^[1]

Accumulated impairment, balance at the end of the period

351.4

391.6

(205.5)

(235.3)

Engineered Solutions segment | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Dry Cooling Business

^[2]

145.9

$ 156.3

^[1]

Gross goodwill, Disposition of Business

^[3]

(36.1)

Accumulated impairments, Disposition of Business

^[3]

25.9

Goodwill, Disposition of Business

^[2],[3]

$ (10.2)

[1]	As previously noted, the balance at December 31, 2015 includes $10.7 related to our dry cooling business.
[2]	The balance at December 31, 2015 includes $10.7 related to our dry cooling business. As previously noted, the assets and liabilities of the dry cooling business have been classified as “held for sale” in the accompanying consolidated balance sheet as of December 31, 2015. See Note 4 for information on the assets and liabilities of the dry cooling business as of December 31, 2015.
[3]	Represents goodwill allocated to our dry cooling business upon its disposition.

Goodwill and Other Intangible Assets (Details 2) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2016

Apr. 02, 2016

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Gross carrying value of finite-lived intangible assets

$ 20.7

$ 84.9

Net carrying value of finite-lived intangible assets

(13.7)

^[1]

(13.7)

^[1]

(47.4)

7.0

37.5

Gross carrying value

^[1]

131.6

117.9

^[1]

117.9

^[1]

154.2

Estimated amortization expense related to intangible assets

Amortization expense

2.8

5.2

$ 5.7

0.6

0.6

0.6

0.6

0.6

SPX Heat Transfer Business

6.1

Assets from Continuing Operations and Disposal Group, Held-for-sale, Not Discontinued Operations

Impairment charge

26.1

$ 4.0

30.1

^[1]

(47.4)

Gross carrying value

^[1]

209.9

^[1]

162.5

Net carrying value of finite-lived intangible assets

4.2

88.9

9.7

Net carrying value of finite-lived intangible assets

2.8

12.3

Trademarks | Disposal Group, Held-for-sale | Assets Held For Sale, Current

^[2],[3]

110.9

125.0

5.9

Customer relationships

Gross carrying value of finite-lived intangible assets

^[2]

1.4

25.4

Net carrying value of finite-lived intangible assets

^[2]

(1.4)

(9.5)

^[2]

0.0

15.9

Technology

Gross carrying value of finite-lived intangible assets

^[2],[3]

2.1

40.7

Net carrying value of finite-lived intangible assets

^[2],[3]

(0.4)

(25.2)

^[2],[3]

1.7

15.5

Technology | Disposal Group, Held-for-sale | Assets Held For Sale, Current

Net carrying value of finite-lived intangible assets

2.4

Patents

Gross carrying value of finite-lived intangible assets

4.5

4.6

Net carrying value of finite-lived intangible assets

(4.5)

(4.6)

0.0

Gross carrying value of finite-lived intangible assets

12.7

14.2

Net carrying value of finite-lived intangible assets

(7.4)

(8.1)

$ 5.3

$ 6.1

[1]	Changes in the gross carrying value of “Other Intangibles, Net” during the year ended December 31, 2016 related to the sale of our dry cooling business, the impairment charges related to the Heat Transfer intangibles noted above, and, to a lesser extent, foreign currency translation.
[2]	As noted below, we recorded impairment charges of $30.1 during 2016 related to the customer relationships, technology and trademarks of our Heat Transfer business.
[3]	The balance at December 31, 2015 includes $2.4 and $5.9, respectively, related to our dry cooling business. As previously noted, the assets and liabilities of the dry cooling business have been classified as “held for sale” in the accompanying consolidated balance sheet as of December 31, 2015. See Note 4 for information on the assets and liabilities of the dry cooling business as of December 31, 2015.

Goodwill and Other Intangible Assets (Details 3) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2016

Apr. 02, 2016

Dec. 31, 2014

Dec. 31, 2016

Dec. 31, 2014

Dec. 31, 2015

Intangible assets with determinable lives and indefinite lives

Aggregate carrying value of definite lived intangible assets

$ 7.0

$ 37.5

Intangible assets with determinable lives and indefinite lives

$ 117.9

^[1]

$ 117.9

^[1]

154.2

Minimum

Percentage fair value of each reporting unit exceeds carrying value

30.00%

Intangible assets with determinable lives and indefinite lives

SPX Heat Transfer Business

^[2],[3]

$ 110.9

$ 125.0

Intangible assets with determinable lives and indefinite lives

Impairment charge

26.1

$ 4.0

30.1

SPX Heat Transfer Business | Trademarks

6.1

Intangible assets with determinable lives and indefinite lives

Impairment charge related to trademarks

2.2

$ 4.0

$ 10.9

Intangible assets with determinable lives and indefinite lives

Aggregate carrying value of definite lived intangible assets

4.2

88.9

Intangible assets with determinable lives and indefinite lives

Aggregate carrying value of definite lived intangible assets

2.8

12.3

Intangible assets with determinable lives and indefinite lives

$ 9.7

[1]	Changes in the gross carrying value of “Other Intangibles, Net” during the year ended December 31, 2016 related to the sale of our dry cooling business, the impairment charges related to the Heat Transfer intangibles noted above, and, to a lesser extent, foreign currency translation.
[2]	As noted below, we recorded impairment charges of $30.1 during 2016 related to the customer relationships, technology and trademarks of our Heat Transfer business.
[3]	The balance at December 31, 2015 includes $2.4 and $5.9, respectively, related to our dry cooling business. As previously noted, the assets and liabilities of the dry cooling business have been classified as “held for sale” in the accompanying consolidated balance sheet as of December 31, 2015. See Note 4 for information on the assets and liabilities of the dry cooling business as of December 31, 2015.

Employee Benefit Plans (Details)
£ in Millions, $ in Millions

3 Months Ended

12 Months Ended

Jul. 14, 2015

USD ($)

Jul. 02, 2016

USD ($)

Sep. 26, 2015

USD ($)

Dec. 31, 2014

USD ($)

retiree

Dec. 31, 2014

GBP (£)

retiree

Mar. 29, 2014

employee

Dec. 31, 2016

USD ($)

Dec. 31, 2015

USD ($)

Dec. 31, 2014

USD ($)

Number of eligible former employees intended to be offered with voluntary single lump-sum payment options in lieu of a future pension benefit | employee

7,100

Percentage of projected benefit obligation of the Plan settled as a result of lump-sum payments

38.00%

Projected benefit obligation of the Plan settled as a result of lump-sum payments

$ 165.2

Defined benefit plan lump-sum payment settlement charge

4.6

14.8

15.0

$ 5.1

Number of retirees assumed by third party for future pension payments | retiree

$ 27.4

(6.1)

900

Amount paid for obligations assumed by third party

$ 123.3

£ 79.2

Obligations assumed by third party

$ 105.8

£ 68.0

^[1]

0.0

Settlement gain (loss) resulting from partial annuitization

9.5

(9.2)

$ 4.8

^[1]

$ 36.4

6.0

Charge to net periodic pension benefit expense from remeasurement of assets and liabilities of US Plan and SIARP

$ 5.1

$ 11.4

Domestic Pension Plans | SPX Flow, Inc | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff

Percentage of projected benefit obligation that was settled

$ 25.2

9.00%

Charge to net periodic pension benefit expense

$ 1.0

Supplemental Individual Account Retirement Plan (SIARP)

Percentage of projected benefit obligation that was settled

$ 2.7

22.00%

Charge to net periodic pension benefit expense

$ 0.8

[1]	Amount in 2016 includes settlement payments of $27.9 in connection with lump-sum payment actions for the U.S. Plan and the SIARP.

Employee Benefit Plans (Details 2)
$ in Millions

12 Months Ended

Dec. 31, 2016

USD ($)

$ / item

Dec. 31, 2015

USD ($)

Dec. 31, 2014

USD ($)

Short-term investments

Value of short-term investments (in dollars per unit) | $ / item

1.00

Pension plans

Pension plans | Global equity common trust funds

$ 425.2

$ 442.7

Pension plans | Global Equities

^[1],[2]

57.6

89.0

Pension plans | Fixed income common trust funds

13.2

Pension plans | Commingled global fund allocation

^[1],[3]

163.1

163.4

Pension plans | Corporate bonds

^[1],[4]

80.6

45.4

Pension plans | Non-U.S. Government securities

29.1

36.0

Pension plans | U.S. Government securities

39.0

27.4

Pension plans | Short-term investments

31.1

8.8

^[5]

10.5

71.7

Pension plans | Other

$ 1.0

100.00%

100.00%

Foreign Pension Plans | Global equity common trust funds

$ 163.3

$ 163.5

$ 186.7

16.00%

35.00%

Foreign Pension Plans | Global Equities

13.00%

8.00%

0.00%

Foreign Pension Plans | Fixed income common trust funds

7.00%

30.00%

8.00%

Foreign Pension Plans | Commingled global fund allocation

39.00%

20.00%

0.00%

Foreign Pension Plans | Non-U.S. Government securities

22.00%

24.00%

17.00%

Foreign Pension Plans | Short-term investments

15.00%

^[6]

2.00%

40.00%

^[6]

4.00%

100.00%

100.00%

Domestic Pension Plans | Global equity common trust funds

$ 261.9

$ 279.2

305.7

12.00%

11.00%

Domestic Pension Plans | Fixed income common trust funds

5.00%

44.00%

54.00%

Domestic Pension Plans | Commingled global fund allocation

50.00%

19.00%

16.00%

Domestic Pension Plans | Corporate bonds

18.00%

11.00%

13.00%

Domestic Pension Plans | U.S. Government securities

12.00%

12.00%

3.00%

Domestic Pension Plans | Short-term investments

13.00%

^[7]

2.00%

Domestic Pension Plans | Other

^[7]

0.00%

^[8]

0.00%

1.00%

Quoted Prices in Active Markets for Identical Assets (Level 1) | Pension plans

^[8]

2.00%

Quoted Prices in Active Markets for Identical Assets (Level 1) | Pension plans | Global equity common trust funds

$ 10.5

$ 63.8

Quoted Prices in Active Markets for Identical Assets (Level 1) | Pension plans | Global Equities

^[1],[2]

0.0

13.6

Quoted Prices in Active Markets for Identical Assets (Level 1) | Pension plans | Fixed income common trust funds

0.0

Quoted Prices in Active Markets for Identical Assets (Level 1) | Pension plans | Commingled global fund allocation

^[1],[3]

0.0

13.2

Quoted Prices in Active Markets for Identical Assets (Level 1) | Pension plans | Corporate bonds

^[1],[4]

0.0

22.8

Quoted Prices in Active Markets for Identical Assets (Level 1) | Pension plans | Non-U.S. Government securities

0.0

Quoted Prices in Active Markets for Identical Assets (Level 1) | Pension plans | U.S. Government securities

0.0

Quoted Prices in Active Markets for Identical Assets (Level 1) | Pension plans | Short-term investments

0.0

Quoted Prices in Active Markets for Identical Assets (Level 1) | Pension plans | Other

^[5]

10.5

14.2

Significant Observable Inputs (Level 2) | Securities collateralized

0.0

Significant Observable Inputs (Level 2) | Pension plans

2.9

5.5

Significant Observable Inputs (Level 2) | Pension plans | Global equity common trust funds

413.7

377.9

Significant Observable Inputs (Level 2) | Pension plans | Global Equities

^[1],[2]

57.6

75.4

Significant Observable Inputs (Level 2) | Pension plans | Fixed income common trust funds

13.2

Significant Observable Inputs (Level 2) | Pension plans | Commingled global fund allocation

^[1],[3]

163.1

150.2

Significant Observable Inputs (Level 2) | Pension plans | Corporate bonds

^[1],[4]

80.6

22.6

Significant Observable Inputs (Level 2) | Pension plans | Non-U.S. Government securities

29.1

36.0

Significant Observable Inputs (Level 2) | Pension plans | U.S. Government securities

39.0

27.4

Significant Observable Inputs (Level 2) | Pension plans | Short-term investments

31.1

8.8

Significant Observable Inputs (Level 2) | Pension plans | Other

^[5]

0.0

57.5

Significant Unobservable Inputs (Level 3)

0.0

Significant Unobservable Inputs (Level 3) | Global equity common trust funds

1.0

10.1

Significant Unobservable Inputs (Level 3) | Fixed income common trust funds

0.0

4.9

Significant Unobservable Inputs (Level 3) | Commingled global fund allocation

0.0

Significant Unobservable Inputs (Level 3) | Other

0.0

Significant Unobservable Inputs (Level 3) | Pension plans

1.0

$ 5.2

Significant Unobservable Inputs (Level 3) | Pension plans | Global equity common trust funds

1.0

Significant Unobservable Inputs (Level 3) | Pension plans | Global Equities

^[1],[2]

0.0

Significant Unobservable Inputs (Level 3) | Pension plans | Fixed income common trust funds

0.0

Significant Unobservable Inputs (Level 3) | Pension plans | Commingled global fund allocation

^[1],[3]

0.0

Significant Unobservable Inputs (Level 3) | Pension plans | Corporate bonds

^[1],[4]

0.0

Significant Unobservable Inputs (Level 3) | Pension plans | Non-U.S. Government securities

0.0

Significant Unobservable Inputs (Level 3) | Pension plans | U.S. Government securities

0.0

Significant Unobservable Inputs (Level 3) | Pension plans | Short-term investments

0.0

Significant Unobservable Inputs (Level 3) | Pension plans | Other

^[5]

0.0

$ 1.0

[1]	Common/commingled trust funds are similar to mutual funds, with a daily net asset value per share measured by the fund sponsor and used as the basis for current transactions. These investments, however, are not registered with the U.S. Securities and Exchange Commission and participation is not open to the public. The funds are valued at the net asset value per share multiplied by the number of shares held as of the measurement date.
[2]	This class represents investments in actively managed common trust funds that invest primarily in equity securities, which may include common stocks, options and futures.
[3]	This class represents investments in actively managed common trust funds that invest in a variety of fixed income investments, which may include corporate bonds, both U.S. and non-U.S. municipal securities, interest rate swaps, options and futures.
[4]	This class represents investments in actively managed common trust funds with investments in both equity and debt securities. The investments may include common stock, corporate bonds, U.S. and non-U.S. municipal securities, interest rate swaps, options and futures.
[5]	Short-term investments are valued at $1.00/unit, which approximates fair value. Amounts are generally invested in actively managed common trust funds or interest-bearing accounts.
[6]	Short-term investments are generally invested in actively managed common trust funds or interest-bearing accounts. As of December 31, 2015, and in connection with a transition to a new investment advisor, the U.K. Plan had a significant amount of its assets invested in short-term investments. Following the engagement of a new investment advisor for the U.K. Plan, asset allocations for the U.K. Plan and aggregate asset allocations for our foreign plans are more in-line with targeted allocations.
[7]	Short-term investments are generally invested in actively managed common trust funds or interest-bearing accounts.
[8]	Assets included in this class at December 31, 2015 are comprised primarily of insurance contracts, private equity and publicly traded real estate trusts.

Employee Benefit Plans (Details 3) - Significant Unobservable Inputs (Level 3) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Changes in the fair value of Level 3 assets
Fair value of plan assets — beginning of year	$ 1.0	$ 10.1
Transfer from Level 3 to Level 2 assets	0.0	(4.9)
Sales	0.0	(0.1)
Fair value of plan assets — end of year	1.0	1.0
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff \| SPX Flow, Inc
Changes in the fair value of Level 3 assets
Spin-Off of SPX FLOW		(4.1)
Global equity common trust funds
Changes in the fair value of Level 3 assets
Fair value of plan assets — beginning of year	0.0	4.9
Transfer from Level 3 to Level 2 assets	0.0	(4.9)
Sales	0.0	0.0
Fair value of plan assets — end of year	0.0	0.0
Global equity common trust funds \| Discontinued Operations, Disposed of by Means Other than Sale, Spinoff \| SPX Flow, Inc
Changes in the fair value of Level 3 assets
Spin-Off of SPX FLOW		0.0
Commingled global fund allocation
Changes in the fair value of Level 3 assets
Fair value of plan assets — beginning of year	0.0	0.0
Transfer from Level 3 to Level 2 assets	0.0	0.0
Sales	0.0	0.0
Fair value of plan assets — end of year	0.0	0.0
Commingled global fund allocation \| Discontinued Operations, Disposed of by Means Other than Sale, Spinoff \| SPX Flow, Inc
Changes in the fair value of Level 3 assets
Spin-Off of SPX FLOW		0.0
Fixed income common trust funds
Changes in the fair value of Level 3 assets
Fair value of plan assets — beginning of year	0.0	0.0
Transfer from Level 3 to Level 2 assets	0.0	0.0
Sales	0.0	0.0
Fair value of plan assets — end of year	0.0	0.0
Fixed income common trust funds \| Discontinued Operations, Disposed of by Means Other than Sale, Spinoff \| SPX Flow, Inc
Changes in the fair value of Level 3 assets
Spin-Off of SPX FLOW		0.0
Other
Changes in the fair value of Level 3 assets
Fair value of plan assets — beginning of year	1.0	5.2
Transfer from Level 3 to Level 2 assets	0.0	0.0
Sales	0.0	(0.1)
Fair value of plan assets — end of year	$ 1.0	1.0
Other \| Discontinued Operations, Disposed of by Means Other than Sale, Spinoff \| SPX Flow, Inc
Changes in the fair value of Level 3 assets
Spin-Off of SPX FLOW		$ (4.1)

Employee Benefit Plans (Details 4) $ in Millions	12 Months Ended
Employee Benefit Plans (Details 4) $ in Millions	Dec. 31, 2016 USD ($)
Domestic Pension Plans
Employee benefit plans
Employer contributions	$ 0.0
Estimated future benefit payments, net of subsidies:
2017	23.2
2018	23.2
2019	22.3
2020	23.5
2021	23.4
Subsequent five years	113.7
Non-qualified pension plans
Employee benefit plans
Employer contributions	10.0
Expected minimum required funding contributions in 2017	6.1
Foreign Pension Plans
Employee benefit plans
Employer contributions	0.5
Expected minimum required funding contributions in 2017	2.9
Estimated future benefit payments, net of subsidies:
2017	3.8
2018	4.4
2019	5.1
2020	4.9
2021	5.0
Subsequent five years	31.5
Postretirement Plans
Employee benefit plans
Plan assets	0.0
Direct benefit, net of federal subsidies paid to unfunded plan	10.3
Estimated future benefit payments, net of subsidies:
2017	11.9
2018	11.2
2019	10.6
2020	9.8
2021	9.1
Subsequent five years	$ 36.0

Employee Benefit Plans (Details 5) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Jul. 02, 2016

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

$ 14.8

(15.0)

(15.0)

Pension plans

Non-funded plan, current underfunded status

$ 72.3

Fair value of plan assets — beginning of year

442.7

Fair value of plan assets — end of year

425.2

$ 442.7

Projected benefit obligation — beginning of year

371.1

455.3

0.4

2.5

7.1

13.9

16.5

19.9

9.5

(9.2)

^[1]

(36.4)

(6.0)

Curtailment gain

^[2]

0.0

(5.1)

Plan amendment

0.0

(0.9)

(10.4)

(17.5)

Projected benefit obligation — end of year

0.0

348.1

371.1

455.3

Settlement payments

27.9

Fair value of plan assets — beginning of year

279.2

305.7

Actual return on plan assets

19.5

(15.3)

Contributions (employer and employee)

10.0

12.3

^[1]

(36.4)

(6.0)

(10.4)

(17.5)

Fair value of plan assets — end of year

0.0

261.9

279.2

305.7

Funded status at year-end

(86.2)

(91.9)

Amounts recognized in the consolidated balance sheets consist of:

0.0

(5.9)

(9.6)

Amount recognized in accumulated other comprehensive income (pre-tax) consists of:

(80.3)

(82.3)

Net amount recognized

(86.2)

(91.9)

Net prior service credits

(0.7)

(0.9)

Domestic Pension Plans | Liabilities of Discontinued Operations - Current

Amounts recognized in the consolidated balance sheets consist of:

Domestic Pension Plans | Liabilities of Discontinued Operations - Non current

0.0

Amounts recognized in the consolidated balance sheets consist of:

Domestic Pension Plans | Balcke Durr | Discontinued Operations, Disposed of by Sale

0.0

Spin-Off of SPX FLOW and Divestiture of Balcke Durr

^[3]

0.0

Domestic Pension Plans | SPX Flow, Inc | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff

Spin-Off of SPX FLOW and Divestiture of Balcke Durr

^[4]

0.0

(64.5)

$ (25.2)

$ (25.2)

Spin-Off of SPX FLOW

0.0

Projected benefit obligation — beginning of year

155.7

239.6

0.0

1.3

2.6

5.6

7.7

13.8

27.4

(6.1)

^[1]

0.0

Curtailment gain

^[2]

0.0

Plan amendment

0.0

(6.4)

(12.1)

Projected benefit obligation — end of year

(18.0)

(14.6)

157.6

155.7

239.6

Fair value of plan assets — beginning of year

163.5

186.7

Actual return on plan assets

25.6

(0.8)

Contributions (employer and employee)

0.5

5.5

^[1]

0.0

(6.4)

(12.1)

(6.1)

(9.1)

Fair value of plan assets — end of year

(20.2)

(14.7)

163.3

163.5

186.7

Funded status at year-end

5.7

7.8

Amounts recognized in the consolidated balance sheets consist of:

6.3

15.2

0.0

Amount recognized in accumulated other comprehensive income (pre-tax) consists of:

(0.6)

(0.2)

Net amount recognized

5.7

7.8

Net prior service credits

0.0

Foreign Pension Plans | Liabilities of Discontinued Operations - Current

Amounts recognized in the consolidated balance sheets consist of:

Foreign Pension Plans | Liabilities of Discontinued Operations - Non current

0.0

(0.3)

Amounts recognized in the consolidated balance sheets consist of:

Foreign Pension Plans | Balcke Durr | Discontinued Operations, Disposed of by Sale

0.0

(6.9)

Spin-Off of SPX FLOW and Divestiture of Balcke Durr

^[3]

(6.7)

0.0

Foreign Pension Plans | SPX Flow, Inc | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff

Spin-Off of SPX FLOW and Divestiture of Balcke Durr

^[4]

0.0

(60.1)

Spin-Off of SPX FLOW

0.0

(4.1)

Postretirement Plans

Projected benefit obligation — beginning of year

120.8

130.2

0.0

0.1

0.4

4.2

4.4

5.3

0.6

(4.0)

0.0

(1.8)

Plan amendment

0.0

4.5

Projected benefit obligation — end of year

(10.3)

(9.4)

115.3

120.8

$ 130.2

0.0

(1.8)

Funded status at year-end

(10.3)

(9.4)

(115.3)

(120.8)

Amounts recognized in the consolidated balance sheets consist of:

(11.7)

(12.0)

Amount recognized in accumulated other comprehensive income (pre-tax) consists of:

(103.6)

(108.8)

Net amount recognized

(115.3)

(120.8)

Net prior service credits

(5.9)

(6.7)

Postretirement Plans | SPX Flow, Inc | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff

Spin-Off of SPX FLOW and Divestiture of Balcke Durr

$ 0.0

$ (3.2)

[1]	Amount in 2016 includes settlement payments of $27.9 in connection with lump-sum payment actions for the U.S. Plan and the SIARP.
[2]	Represents a curtailment gain recorded during the third quarter of 2015 in connection with the amendment of the U.S. Plan and SIARP previously noted.
[3]	Represents the transfer of Balcke Dürr’s pension liabilities as a result of the sale.
[4]	Represents the transfer to SPX FLOW of the “Top Management Plan” obligation related to SPX FLOW’s executive officers and the impact of transferring foreign defined benefit plans sponsored by SPX FLOW.

Employee Benefit Plans (Details 6) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Jul. 14, 2015

Dec. 31, 2016

Jul. 02, 2016

Dec. 31, 2015

Sep. 26, 2015

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Defined Benefit Plan, Net Periodic Benefit Cost

Recognized pre-tax actuarial losses

$ 10.2

$ 1.8

$ 9.6

$ 11.4

$ 1.8

$ 11.4

$ 14.8

Defined benefit plan lump-sum payment settlement charge

$ 5.1

5.1

4.6

Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets

Projected benefit obligation

348.1

371.1

348.1

371.1

347.9

370.8

347.9

370.8

261.9

279.2

261.9

279.2

Defined Benefit Plan, Net Periodic Benefit Cost

$ 347.9

$ 370.8

347.9

370.8

0.4

2.5

7.1

Expected return on plan assets

13.9

16.5

19.9

(12.9)

(18.0)

(19.5)

Amortization of unrecognized prior service credits

(0.2)

(0.1)

0.0

Recognized net actuarial (gains) losses

^[1]

3.2

18.9

50.9

Settlement gain (loss) resulting from partial annuitization

$ 5.1

4.8

Total net periodic pension benefit expense

$ 4.4

$ 19.8

$ 58.4

Weighted-average actuarial assumptions used in determining net periodic pension expense:

Rate of increase in compensation levels (as a percent)

4.06%

4.09%

4.54%

3.75%

Expected long-term rate of return on assets (as a percent)

5.00%

5.75%

6.76%

Weighted-average actuarial assumptions used in determining year-end benefit obligations:

Rate of increase in compensation levels (as a percent)

3.98%

4.24%

3.98%

4.24%

3.90%

3.75%

Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets

Projected benefit obligation

$ 43.8

$ 7.4

$ 43.8

$ 7.4

43.8

7.4

43.8

7.4

43.2

0.0

43.2

0.0

Defined Benefit Plan, Net Periodic Benefit Cost

$ 157.6

$ 155.7

157.6

155.7

0.0

1.3

$ 2.6

Expected return on plan assets

5.6

7.7

13.8

(6.6)

(9.7)

(17.6)

Settlement loss

^[2]

0.0

15.0

Recognized net actuarial (gains) losses

^[3]

8.2

3.8

25.0

Total net periodic pension benefit expense

7.2

3.1

38.8

Less: Net periodic pension expense of discontinued operations

(0.2)

(2.2)

(11.9)

Net periodic pension benefit expense of continuing operations

$ 7.0

$ 0.9

$ 26.9

Weighted-average actuarial assumptions used in determining net periodic pension expense:

Rate of increase in compensation levels (as a percent)

3.82%

3.68%

4.23%

4.00%

3.92%

Expected long-term rate of return on assets (as a percent)

4.57%

5.81%

5.78%

Weighted-average actuarial assumptions used in determining year-end benefit obligations:

Rate of increase in compensation levels (as a percent)

2.97%

3.82%

2.97%

3.82%

3.31%

4.00%

3.87%

Postretirement Plans

Defined Benefit Plan, Net Periodic Benefit Cost

$ 0.0

$ 0.1

$ 0.4

4.2

4.4

5.3

Amortization of unrecognized prior service credits

0.0

(1.8)

0.0

(0.8)

(0.3)

Recognized net actuarial (gains) losses

0.6

(4.0)

14.2

Total net periodic pension benefit expense

$ 4.0

$ (2.1)

$ 19.6

Weighted-average actuarial assumptions used in determining net periodic pension expense:

Weighted-average actuarial assumptions used in determining year-end benefit obligations:

3.88%

3.53%

4.23%

Assumed health care cost trend rates:

3.69%

3.88%

3.69%

3.88%

3.55%

Heath care cost trend rate for next year (as a percent)

7.50%

6.60%

6.79%

Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) (as a percent)

5.00%

Year that the rate reaches the ultimate trend rate

2027

2024

2027

2024

Effects on postretirement expense of a percentage point change in assumed health care cost trend rates

Effect of 1% increase on total of service and interest costs

$ 5.5

Effect of 1% decrease on total of service and interest costs

$ (4.9)

[1]	Consists primarily of our reported actuarial (gains) losses, the difference between actual and expected returns on plan assets, settlement gains (losses), and curtailment gains. The actuarial losses for 2016 included $1.8 related to the lump-sum payment actions that took place during the second quarter of the year. The actuarial losses for 2015 included a charge of $11.4 and a curtailment gain of $5.1 related to the freeze of all benefits for non-union participants of the U.S. Plan and the SIARP during the third quarter of the year. The actuarial losses for 2014 included a settlement loss and an actuarial loss of $4.6 and $14.8, respectively, related to a lump-sum payment action during the first quarter of the year, as well as an increase of a settlement gain of $4.8 related to the partial annuitization of the U.S. Plan in 2013.
[2]	Includes the settlement loss recorded in connection with the transfer of the pension obligation for the retirees of the U.K. Plan to Just Retirement.
[3]	Consists of our reported actuarial losses and the difference between actual and expected returns on plan assets.

Employee Benefit Plans (Details 7) - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
The DC Plan
Defined Contribution Retirement Plans
Maximum voluntary contribution by eligible U.S. employees as a percentage of their compensation	50.00%
Number of shares contributed	605	434	167
Compensation expense	$ 8.8	$ 10.2	$ 10.3
Supplemental Retirement Savings Plan (SRSP)
Defined Contribution Retirement Plans
Compensation expense	0.7	0.7	$ 0.6
Supplemental Retirement Savings Plan (SRSP) \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Contribution Retirement Plans
Fair value of assets	$ 19.1	$ 20.0

Income Taxes (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Income (loss) from continuing operations:

Income (loss) from continuing operations before income taxes

$ 14.0

$ (14.2)

$ 366.2

Foreign

25.4

(140.1)

(114.1)

39.4

(154.3)

252.1

Current:

(4.3)

10.9

(200.1)

Foreign

(4.8)

(3.3)

(16.5)

Total current

(9.1)

7.6

(216.6)

Deferred and other:

Total (provision) benefit

0.2

(10.7)

95.7

Foreign

(0.2)

5.8

(16.6)

Total deferred and other

0.0

(4.9)

79.1

$ (9.1)

$ 2.7

$ (137.5)

Reconciliation of the U.S. federal statutory tax rate to effective income tax rate

Tax at U.S. federal statutory rate (as a percent)

35.00%

State and local taxes, net of U.S. federal benefit (as a percent)

5.00%

(0.10%)

2.70%

U.S. credits and exemptions (as a percent)

(12.90%)

1.50%

(1.30%)

Foreign earnings taxed at lower rates (as a percent)

(5.90%)

(9.00%)

9.20%

Audit settlements with taxing authorities (as a percent)

0.00%

0.70%

(4.70%)

Adjustments to uncertain tax positions (as a percent)

(1.90%)

(5.40%)

(1.70%)

Changes in valuation allowance (as a percent)

17.40%

(18.80%)

13.40%

Tax on distributions of foreign earnings (as a percent)

0.70%

(0.20%)

4.50%

Goodwill impairment and basis adjustments (as a percent)

(0.00%)

(2.40%)

Disposition of dry cooling business (as a percent)

(15.60%)

0.00%

Other (as a percent)

1.30%

0.40%

(0.20%)

Effective income tax rate (as a percentage)

23.10%

1.70%

54.50%

Deferred tax assets:

NOL and credit carryforwards

$ 78.2

$ 85.3

^[1]

Pension, other postretirement and postemployment benefits

77.2

80.3

^[1]

Payroll and compensation

22.8

28.8

^[1]

Legal, environmental and self-insurance accruals

35.1

40.6

^[1]

Working capital accruals

16.4

15.8

^[1]

20.7

21.1

^[1]

Intangible assets recorded in acquisitions

250.4

271.9

^[1]

Valuation allowance

(75.8)

(70.9)

^[1]

Net deferred tax assets

174.6

201.0

^[1]

Deferred tax liabilities:

68.3

81.6

^[1]

Basis difference in affiliates

10.6

10.3

^[1]

Accelerated depreciation

40.6

38.9

^[1]

Total deferred tax liabilities

6.6

23.6

^[1]

126.1

154.4

^[1]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

48.5

46.6

^[1]

$ 48.5

46.6

^[1]

Discontinued operations

Deferred tax liabilities:

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

4.1

$ 4.1

[1]	Represents deferred tax assets and liabilities related to both continuing and discontinued operations, with net deferred tax assets associated with discontinued operations totaling $4.1.

Income Taxes (Details 2) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
Income Taxes (Details 2) - USD ($) $ in Millions	Oct. 01, 2016	Jul. 02, 2016	Apr. 02, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating Loss Carryforwards
Tax credit carryforwards							$ 7.0
Carryforwards expiring in 2016							7.0
Tax credit carryforwards expiring between 2016 and 2035							423.0
Increase (decrease) in valuation allowance				$ 4.9	$ (82.0)
Excess amount for financial reporting over tax basis of investments in foreign subsidiaries							26.0
Unrecognized tax benefits			$ 48.8	48.8	63.3	$ 128.4	37.9	$ 48.8	$ 63.3
Net unrecognized tax benefits							25.2	30.1	33.9
Unrecognized tax benefits that would impact the effective tax rate if recognized							20.3
Gross accrued interest							3.7	5.4	5.9
Net accrued interest							2.4	4.5	4.9
Gross interest income included in income tax (provision) benefit				1.8	0.2	0.9
Penalties excluded							0.0	$ 0.0	$ 0.0
Penalties recorded				0.0	0.0	7.1
Gain on sale of dry cooling business				18.4	0.0	0.0
Pre-tax losses generated during the year for which no tax benefit was recognized					139.0
Aggregate changes in balance of unrecognized tax benefits
Unrecognized tax benefit — opening balance			48.8	48.8	63.3	128.4
Gross increases — tax positions in prior period				3.6	14.1	3.7
Gross decreases — tax positions in prior period				(9.3)	(7.6)	(36.9)
Gross increases — tax positions in current period				0.7	11.3	11.7
Settlements				0.0	0.0	(28.2)
Lapse of statute of limitations				(5.9)	(4.4)	(14.7)
Gross decreases — Spin-Off				0.0	(26.7)	0.0
Change due to foreign currency exchange rates				0.0	(1.2)	(0.7)
Unrecognized tax benefit — ending balance				37.9	48.8	63.3
Uncertain Tax Positions and Other Tax Matters
Income tax charges (benefits) related to valuation allowances recorded against foreign deferred income tax assets						33.8
Income taxes relating to repatriation of earnings						11.4
Tax benefit related to audit settlements and statute expirations				(2.4)	3.4	16.2
Tax benefit related to loss on an investment in a foreign subsidiary						6.4
EGS Electrical Group, LLC and Subsidiaries (EGS)
Operating Loss Carryforwards
Gain on sale of interest in EGS						$ 491.2
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Dry Cooling Business
Operating Loss Carryforwards
Income taxes provided in connection with sale of business				0.3
Gain on sale of dry cooling business	$ 1.7	$ 1.2	$ 17.9	18.4
Minimum
Operating Loss Carryforwards
Reasonably possible amount that unrecognized tax benefits could decrease within next 12 months, low end of range							6.0
Maximum
Operating Loss Carryforwards
Reasonably possible amount that unrecognized tax benefits could decrease within next 12 months, low end of range							10.0
State and Local Jurisdiction
Operating Loss Carryforwards
Tax loss carryforwards							422.0
Foreign Jurisdictions
Operating Loss Carryforwards
Tax loss carryforwards							$ 189.0
Foreign losses generated for which no tax benefit was recognized				$ 13.7
Foreign taxes incurred related to Spin-Off and reorganization actions					$ 3.7

Indebtedness (Details) - USD ($)

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Sep. 01, 2015

Debt

$ 371,800,000

161,700,000

(180,600,000)

^[1]

3,300,000

Less: current maturities of long-term debt

356,200,000

Less: short-term debt

14,800,000

$ 22,100,000

17,900,000

9,100,000

Total long-term debt

323,500,000

340,600,000

Unamortized debt issuance costs

1,600,000

2,000,000

Maturities of long-term debt payable

17,900,000

18,000,000

17,900,000

289,000,000

200,000

Trade receivables financing arrangement

Debt

^[2]

^[2]

72,000,000

^[2]

(72,000,000)

^[1],[2]

Maximum borrowing capacity under financing arrangement

^[2]

50,000,000

Available borrowing capacity

39,900,000

Other indebtedness

Debt

^[3]

23,800,000

^[3]

33,500,000

^[3]

(43,600,000)

^[1],[3]

2,900,000

Capital lease obligations

^[3]

16,600,000

1,700,000

Purchase card programs

$ 3,900,000

4,800,000

Term loan

Debt

Initial principal amount of the term loan to be repaid annually in quarterly installments (as a percent)

5.00%

Revolving loans | Revolving loans

Debt

$ 0

56,200,000

(56,200,000)

^[1]

Term loans | Term loans

Debt

^[4]

348,000,000

^[4]

^[4]

(8,800,000)

^[1],[4]

400,000

Maximum borrowing capacity under financing arrangement

^[4]

339,600,000

Foreign line of credit

Debt

$ 150,000,000

Available borrowing capacity

98,600,000

Foreign line of credit | Other indebtedness | South Africa

Debt

Foreign line of credit

10,200,000

Foreign line of credit | Other indebtedness | China

Debt

Foreign line of credit

$ 0

$ 17,300,000

[1]	“Other” primarily includes debt assumed, foreign currency translation on any debt instruments denominated in currencies other than the U.S. dollar, and the impact of amortization of debt issuance costs associated with the term loan.
[2]	Under this arrangement, we can borrow, on a continuous basis, up to $50.0, as available. At December 31, 2016, we had $39.9 of available borrowing capacity under this facility.
[3]	Primarily included capital lease obligations of $1.7 and $1.7, balances under purchase card programs of $3.9 and $4.8, borrowings under a line of credit in South Africa of $10.2 and $0.0, and borrowings under a line of credit in China of $0.0 and $17.3, at December 31, 2016 and 2015, respectively. The purchase card program allows for payment beyond the normal payment terms for goods and services acquired under the program. As this arrangement extends the payment of these purchases beyond their normal payment terms through third-party lending institutions, we have classified these amounts as short-term debt.
[4]	The term loan is repayable in quarterly installments of 5.0% annually, beginning in the third fiscal quarter of 2016. The remaining balance is repayable in full on September 24, 2020. Balances are net of unamortized debt issuance costs of $1.6 and $2.0 at December 31, 2016 and December 31, 2015, respectively. See Note 3 for additional details.

Indebtedness (Details 2)			3 Months Ended
Indebtedness (Details 2)	Sep. 29, 2016 USD ($)	Sep. 01, 2015 USD ($)	Oct. 01, 2016 USD ($)	Dec. 31, 2016 USD ($)	Sep. 28, 2016 USD ($)	Dec. 31, 2015 USD ($)
Senior credit facility
Credit Facilities
Maximum borrowing capacity under financing arrangement				$ 1,000,000,000
Domestic revolving credit facility
Credit Facilities
Maximum borrowing capacity under financing arrangement		$ 200,000,000
Amount of available borrowing capacity				313,900,000
Letters of credit issued, amount outstanding				36,100,000
Foreign credit instrument facility
Credit Facilities
Maximum borrowing capacity under financing arrangement		150,000,000
Amount of available borrowing capacity				98,600,000
Letters of credit issued, amount outstanding				201,400,000
Foreign credit instrument facility \| China, India, and South Africa
Credit Facilities
Maximum borrowing capacity under financing arrangement				16,100,000.0
Foreign line of credit				11,000,000
Letters of credit and guarantees
Credit Facilities
Write-off of deferred financing costs			$ 1,300,000
Trade receivables financing arrangement
Credit Facilities
Maximum borrowing capacity under financing arrangement				$ 50,000,000.0
Senior Credit Facilities \| Loan
Credit Facilities
Maximum borrowing capacity under financing arrangement		$ 350,000,000
Principal amount of the term loan repayable in quarterly installments (as a percentage)		5.00%
Aggregate principal amount		$ 300,000,000.0
Net cash and cash equivalents		$ 50,000,000.0
Consolidated senior secured leverage ratio		2.75
Senior Credit Facilities \| Loan \| Alternative base rate
Credit Facilities
Description of variable rate (as a percent)		alternate base rate
Senior Credit Facilities \| Loan \| Federal Funds Effective Swap Rate
Credit Facilities
Description of variable rate (as a percent)		federal funds effective rate
Basis spread on variable rate (as a percent)		0.50%
Senior Credit Facilities \| Loan \| Prime Rate
Credit Facilities
Description of variable rate (as a percent)		prime rate
Senior Credit Facilities \| Loan \| One-Month LIBOR
Credit Facilities
Description of variable rate (as a percent)		one-month LIBOR
Basis spread on variable rate (as a percent)		1.00%
Senior Credit Facilities \| Loan \| Reserve adjusted LIBOR
Credit Facilities
Description of variable rate (as a percent)		reserve-adjusted LIBOR
Senior Credit Facilities \| Loan \| London Interbank Offered Rate (LIBOR), Period One
Credit Facilities
Interest period which may be elected, shortest		1 month
Senior Credit Facilities \| Loan \| London Interbank Offered Rate (LIBOR), Period Two
Credit Facilities
Interest period which may be elected, shortest		2 months
Senior Credit Facilities \| Loan \| London Interbank Offered Rate (LIBOR), Period Three
Credit Facilities
Interest period which may be elected, shortest		3 months
Senior Credit Facilities \| Loan \| London Interbank Offered Rate (LIBOR), Period Four
Credit Facilities
Interest period which may be elected, shortest		6 months
Senior Credit Facilities \| Senior credit facility
Credit Facilities
Weighted-average interest rate of senior credit facilities (as a percent)				2.50%
Maximum period within which net proceeds should be reinvested		360 days
Period after end of 360 day period if committed to be reinvested		180 days
Percentage of capital stock		100.00%
Percentage of capital stock of material first tier foreign subsidiaries		65.00%
Consolidated interest coverage ratio		3.50
Consolidated leverage ratio		3.25
Consolidated leverage ratio after certain permitted acquisitions		3.5
Consolidated leverage ratio to repurchase capital stock and pay cash dividends		2.5
Aggregate amount of repurchases and dividend declarations		$ 50,000,000
Additional amount for all such repurchases and dividend declarations after effective date		$ 100,000,000
Percentage of cumulative consolidated net income		50.00%
Percentage of cumulative consolidated net deficit		(100.00%)
Senior Credit Facilities \| Foreign credit instrument facility
Credit Facilities
Fronting fees percentage		0.25%
Senior Credit Facilities \| Letters of credit and guarantees
Credit Facilities
Fronting fees percentage		0.125%
Participation Foreign Credit Instrument Facility and Bilateral Foreign Credit Instrument Facility \| Letters of credit and guarantees
Credit Facilities
Maximum borrowing capacity under financing arrangement					$ 200,000,000.0
Participation Foreign Credit Instrument Facility \| Letters of credit and guarantees
Credit Facilities
Maximum borrowing capacity under financing arrangement		$ 175,000,000			300,000,000.0
Reduction in commitment	$ 125,000,000
Bilateral foreign credit instrument facility \| Letters of credit and guarantees
Credit Facilities
Maximum borrowing capacity under financing arrangement		125,000,000			$ 200,000,000.0
Reduction in commitment	$ 75,000,000
Term loan \| Senior credit facility
Credit Facilities
Maximum borrowing capacity under financing arrangement		$ 350,000,000
Purchase Card Program \| Loan
Credit Facilities
Amount outstanding under purchase card programs				$ 3,900,000		$ 4,800,000

Derivative Financial Instruments (Details) lb in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2016 USD ($) lb	Dec. 31, 2015 USD ($) lb	Dec. 31, 2014 USD ($)	Jul. 02, 2016
Interest Rate Swap, Through September 2020
Derivative disclosures
Unrealized gain, net of tax, recorded in AOCI related to commodity and FX forward contracts	$ 0.7
Interest Rate Swap, Through September 2020 \| Derivative contracts designated as hedging instruments
Derivative disclosures
Aggregate notional amount	170.8
Long term asset recorded to recognize the fair value of the swaps	1.7
FX Forward Contracts
Derivative disclosures
Aggregate notional amount	8.8	$ 111.2
Unrealized gain, net of tax, recorded in AOCI related to commodity and FX forward contracts	0.0	(0.6)
FX embedded derivatives \| Derivative contracts not designated as hedging instruments
Derivative disclosures
Aggregate notional amount	0.9	99.4
FX forward contracts and FX embedded derivatives
Derivative disclosures
Net loss recorded related to derivatives	(6.3)	(1.2)	$ (2.7)
Commodity contracts
Derivative disclosures
Unrealized gain, net of tax, recorded in AOCI related to commodity and FX forward contracts	0.8	(1.2)
Fair value of derivative contract - asset	$ 1.1
Fair value of derivative contract - liability		$ 1.7
Commodity contracts \| Derivative contracts designated as hedging instruments
Derivative disclosures
Notional amount of commodity contracts \| lb	4.1	4.2
Variable Rate Term Loan \| Interest Rate Swap, Through September 2020 \| Derivative contracts designated as hedging instruments
Derivative disclosures
Percentage of borrowings converted from variable rate term loan to fixed rates under interest rate swap agreements				50.00%
Fixed rate percentage				1.2895%

Commitments, Contingent Liabilities and Other Matters (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Future minimum rental payments under operating leases with remaining non-cancelable term
2017	$ 8.1
2018	6.8
2019	6.3
2020	5.4
2021	3.3
Thereafter	7.8
Total minimum payments	37.7
Total operating lease expense	$ 13.2	$ 13.4	$ 13.3

Commitments, Contingent Liabilities and Other Matters (Details 2)
$ / shares in Units, ZAR in Millions, $ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2016

USD ($)

Oct. 01, 2016

USD ($)

^[3]

Jul. 02, 2016

USD ($)

Apr. 02, 2016

USD ($)

^[2],[3]

Dec. 31, 2015

USD ($)

Sep. 26, 2015

USD ($)

^[3]

Jun. 27, 2015

USD ($)

^[3]

Mar. 28, 2015

USD ($)

^[2],[3]

Dec. 31, 2016

USD ($)

corporate_entity

Dec. 31, 2015

USD ($)

$ / shares

Dec. 31, 2014

USD ($)

Dec. 31, 2016

ZAR

Jul. 06, 2016

ZAR

Carrying values of accruals

$ 653.5

$ 590.4

$ 653.5

$ 590.4

Liabilities for asbestos product liability

605.6

534.4

605.6

534.4

Payments for asbestos-related matters, net of insurance recoveries

5.8

6.9

$ 5.5

Recorded charges related to asbestos product liability matters

4.9

11.2

4.6

Increase in loss from continuing operations before income taxes

(39.4)

154.3

(252.1)

Increase in costs of products sold

(395.3)

^[1],[2]

$ (345.0)

^[1]

$ (371.4)

^[1],[3]

$ (360.6)

^[1]

(468.4)

^[1],[2]

$ (334.1)

^[1]

$ (410.6)

^[1]

$ (345.9)

^[1]

(1,472.3)

^[4]

(1,559.0)

^[4]

(1,694.4)

^[4]

1,096.5

1,283.1

1,328.0

Increase in net loss

86.1

^[2]

(1.9)

(3.0)

^[3]

(13.6)

12.7

^[2]

130.7

(36.4)

10.0

67.6

117.0

(383.9)

$ 0.0

^[2],[5]

$ 0.0

^[5]

18.1

^[3],[5]

$ 0.0

^[5]

0.0

^[2],[5]

$ 0.0

^[5]

$ 0.0

^[5]

$ 0.0

^[5]

18.1

0.0

South Africa

South Africa | SPX Technologies | BEE Partner

^[4],[6]

$ (105.4)

(54.2)

(109.2)

Amount due from BEE Partner under promissory note | ZAR

ZAR 30.3

South Africa | Put Option | SPX Technologies | BEE Partner

Noncontrolling interest percentage

25.10%

Amount entitled for Put Option exercise | ZAR

ZAR 287.3

Net redemption value

$ 18.5

ZAR 257.0

Amount reclassified from non-controlling interest to paid in capital

38.7

$ 18.1

18.1

Large Power Projects | South Africa

Large Power Projects | Revisions in estimates for large power projects | South Africa

26.0

Increase in loss from continuing operations before income taxes

95.0

Increase in costs of products sold

57.2

37.8

Increase in net loss

$ 71.2

Increase in loss per share of common stock | $ / shares

$ 1.75

Other Operating Income (Expense)

Recorded charges related to asbestos product liability matters

4.2

$ 8.0

3.1

Gain (Loss) on Disposition of Discontinued Operations, Net of Tax

Recorded charges related to asbestos product liability matters

$ 0.7

3.2

$ 1.5

Minimum | Asbestos Related Claims

Number of corporate entities named defendants | corporate_entity

Other Long Term Liabilities

Accruals included in other long-term liabilities

621.0

552.1

$ 621.0

552.1

Other assets | Asbestos Related Claims

Insurance recovery assets

$ 564.4

$ 493.3

$ 564.4

$ 493.3

[1]	During the third quarter of 2015, we revised our estimates of expected revenues and profits associated with our large power projects in South Africa. As a result of these revisions, we reduced revenue and gross profit by $57.2 and $95.0, respectively. In addition, the revision resulted in an increase to “Net loss attributable to noncontrolling interests” of $23.8. See Notes 5 and 13 for additional details.
[2]	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. This practice only affects the quarterly reporting periods and not the annual reporting period. We had six more days in the first quarter of 2016 and we had five fewer days in the fourth quarter of 2016 than in the respective 2015 periods.
[3]	During the first three quarters of 2015, there was a significant amount of general and administrative costs associated with corporate employees and other corporate support that transferred to SPX FLOW at the time of the Spin-Off and did not meet the requirements to be presented within discontinued operations.
[4]	Revenues are included in the above geographic areas based on the country that recorded the customer revenue.
[5]	During the second quarter of 2016, in connection with the noncontrolling interest in our South Africa subsidiary, we have reflected an adjustment of $18.1 to “Net income (loss) attributable to SPX Corporation common shareholders” for the excess redemption amount of the Put Option (i.e., the increase in the redemption amount during 2016 in excess of fair value) in our calculations of basic and diluted earnings per share (see Note 13 for additional details).
[6]	As further discussed in Note 13, during the third quarter of 2015, we made revisions to our estimates of expected revenues and profits on our large power projects in South Africa. As a result of these revisions, we reduced revenue and segment income by $57.2 and $95.0, respectively, during the third quarter of 2015. During the fourth quarter of 2014, we reduced the revenues and profits on our large power projects in South Africa by $25.0 due to schedule delays and financial challenges faced by certain of our subcontractors.

Commitments, Contingent Liabilities and Other Matters (Details 3) - Site investigation and remediation - site	Dec. 31, 2016	Dec. 31, 2015
Environmental Matters
Number of sites	30	35
Number of third-party disposal sites for which entity is potentially responsible	22	24
Number of active sites	8	7

Shareholders' Equity and Long-Term Incentive Compensation (Details) - USD ($)
shares in Thousands, $ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2016

^[2]

Oct. 01, 2016

^[3]

Jul. 02, 2016

^[3]

Apr. 02, 2016

^[2],[3]

Dec. 31, 2015

^[2]

Sep. 26, 2015

^[3]

Jun. 27, 2015

^[3]

Mar. 28, 2015

^[2],[3]

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Numerator:

Less: Net loss attributable to noncontrolling interests

$ (3.0)

^[1]

$ 6.6

^[1]

$ 6.5

^[1]

$ 20.2

^[1]

$ 16.4

^[1]

$ (122.7)

^[1]

$ (11.4)

^[1]

$ (33.9)

^[1]

$ 30.3

$ (151.6)

$ 114.6

(0.4)

(33.4)

(11.7)

0.0

^[4]

0.0

^[4]

(18.1)

^[4]

0.0

^[4]

0.0

^[4]

0.0

^[4]

0.0

^[4]

0.0

^[4]

(18.1)

0.0

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

12.6

(118.2)

126.3

Income (loss) from discontinued operations, net of tax

$ (83.1)

^[5]

$ (4.7)

^[5]

$ (3.5)

^[5]

$ (6.6)

^[5]

$ (29.1)

^[5]

$ (8.0)

^[5]

$ 47.8

^[5]

$ 23.9

^[5]

(97.9)

34.6

^[6]

269.3

Less: Net income (loss) attributable to noncontrolling interest

0.0

(0.9)

2.2

Income (loss) from discontinued operations attributable to SPX Corporation common shareholders for calculating basic and diluted income per share

$ (97.9)

$ 35.5

$ 267.1

Denominator:

Weighted-average number of common shares used in basic income per share

41,610

40,733

42,400

Dilutive securities — Employee stock options, restricted stock shares and restricted stock units

551

631

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

42,161

40,733

43,031

Unvested Restricted Stock And Restricted Stock Units that did not Meet Required Market Thresholds for Vesting

Stock-based Compensation

Number of awards that were excluded from the computation of diluted income per share

1,045

553

226

Restricted stock shares and restricted stock units

Stock-based Compensation

Number of awards that were excluded from the computation of diluted income per share

351

Stock options

Stock-based Compensation

Number of awards that were excluded from the computation of diluted income per share

1,343

505

[1]	During the fourth quarter of 2016 and 2015, we recognized pre-tax actuarial losses of $10.2 and $9.6, respectively, associated with our pension and postretirement benefit plans. See Note 9 for additional details.During the second quarter of 2016, we recognized pre-tax actuarial losses of $1.8 associated with our pension and postretirement benefit plans. See Note 9 for additional details.During the third quarter of 2015, we recognized pre-tax actuarial losses of $11.4 and a curtailment gain of $5.1 associated with our pension and postretirement benefit plans. See Note 9 for additional details.During the first and fourth quarters of 2016, we recorded impairment charges of $4.0 and $26.1, respectively, associated with the intangible assets of our Heat Transfer business. See Note 8 for additional details.During the first quarter of 2016, we completed the sale of our dry cooling business, resulting in a pre-tax gain of $17.9. During the second quarter of 2016, we reduced the pre-tax gain by $1.2 associated with adjustments to certain retained liabilities. During the third quarter of 2016, we increased the pre-tax gain by $1.7 associated with the working capital settlement related to the transaction. See Note 4 for additional details.
[2]	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. This practice only affects the quarterly reporting periods and not the annual reporting period. We had six more days in the first quarter of 2016 and we had five fewer days in the fourth quarter of 2016 than in the respective 2015 periods.
[3]	During the first three quarters of 2015, there was a significant amount of general and administrative costs associated with corporate employees and other corporate support that transferred to SPX FLOW at the time of the Spin-Off and did not meet the requirements to be presented within discontinued operations.
[4]	During the second quarter of 2016, in connection with the noncontrolling interest in our South Africa subsidiary, we have reflected an adjustment of $18.1 to “Net income (loss) attributable to SPX Corporation common shareholders” for the excess redemption amount of the Put Option (i.e., the increase in the redemption amount during 2016 in excess of fair value) in our calculations of basic and diluted earnings per share (see Note 13 for additional details).
[5]	During the fourth quarter of 2016, we recorded a net loss on the sale of Balcke Dürr of $78.6. See Note 4 for additional details.
[6]	For SPX FLOW, represents financial results through the date of Spin-Off (i.e., the nine months ended September 26, 2015), except for a revision to increase the income tax provision by $1.4 that was recorded during the fourth quarter of 2015.

Shareholders' Equity and Long-Term Incentive Compensation (Details 2) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Summary of common shares issued, treasury shares and shares outstanding
Balance at the beginning of the period (in shares)	41,415,909	40,858,000	45,281,000
Share repurchases (in shares)			(4,852,000)
Restricted stock shares and restricted stock units (in shares)	337,000	198,000	262,000
Retirement of treasury stock (in shares)	50,000,000
Other (in shares)	187,000	360,000	167,000
Balance at the end of the period (in shares)	41,940,089	41,415,909	40,858,000
Amount of retirement of treasury stock	$ 0.0
Common Stock
Authorized shares	200,000,000
Par value (in dollars per share)	$ 0.01
Summary of common shares issued, treasury shares and shares outstanding
Balance at the beginning of the period (in shares)	100,526,000	100,064,000	99,801,000
Share repurchases (in shares)			0
Restricted stock shares and restricted stock units (in shares)	42,000	102,000	96,000
Retirement of treasury stock (in shares)	(50,000,000)
Other (in shares)	187,000	360,000	167,000
Balance at the end of the period (in shares)	50,755,000	100,526,000	100,064,000
Amount of retirement of treasury stock	$ 0.5
Common Stock In Treasury
Summary of common shares issued, treasury shares and shares outstanding
Balance at the beginning of the period (in shares)	(59,110,000)	(59,206,000)	(54,520,000)
Share repurchases (in shares)			(4,852,000)
Restricted stock shares and restricted stock units (in shares)	295,000	96,000	166,000
Retirement of treasury stock (in shares)	50,000,000
Other (in shares)	0	0	0
Balance at the end of the period (in shares)	(8,815,000)	(59,110,000)	(59,206,000)
Amount of retirement of treasury stock	$ (2,948.1)
Paid-In Capital
Summary of common shares issued, treasury shares and shares outstanding
Amount of retirement of treasury stock	1,285.4
Retained Earnings (Deficit)
Summary of common shares issued, treasury shares and shares outstanding
Amount of retirement of treasury stock	$ 1,662.2

Shareholders' Equity and Long-Term Incentive Compensation (Details 3) $ in Millions				12 Months Ended
	Mar. 02, 2016	Oct. 14, 2015	Jan. 02, 2014	Dec. 31, 2016 USD ($) shares	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013
Stock-based Compensation
Classification of excess tax benefits from stock-based compensation as financing cash flows				$ 0.1	$ 0.8	$ 9.7
Assumptions in determining the fair value of awards granted
Historical period upon which annual expected stock price volatility is based				3 years
Maximum
Stock-based Compensation
Maximum period over which the fair value of restricted stock shares and restricted stock units are amortized				3 years
Assumptions in determining the fair value of awards granted
Daily treasury yield curve period upon which average risk-free interest rate is based				3 years
Maximum \| 2002 Stock Compensation Plan
Stock-based Compensation
Shares available for grant \| shares				2,097,000
Maximum \| Directors' Plan
Stock-based Compensation
Shares available for grant \| shares				27,000.000
Minimum
Assumptions in determining the fair value of awards granted
Daily treasury yield curve period upon which average risk-free interest rate is based				1 year
PSU's, RSU's, RS's, and Stock Options
Stock-based Compensation
Compensation expense				$ 12.7	33.9	32.7
PSU's, RSU's, and RS's \| Maximum
Stock-based Compensation
Vesting period				3 years
PSU's, RSU's, and RS's \| Minimum
Stock-based Compensation
Vesting period				1 year
Restricted stock shares and restricted stock units
Stock-based Compensation
Related tax benefit				$ 4.8	$ 12.9	$ 12.4
Restricted stock shares and restricted stock units \| 2002 Stock Compensation Plan
Stock-based Compensation
Reduction of shares available for grant \| shares				2
Restricted stock shares and restricted stock units \| Directors' Plan
Stock-based Compensation
Vesting period				1 year	1 year	1 year
PSU's
Stock-based Compensation
Vesting period				3 years	3 years
Assumptions in determining the fair value of awards granted
Annual expected stock price volatility	36.91%		33.70%
Annual expected dividend yield	0.00%		1.02%
Risk-free interest rate	0.97%		0.76%
Correlation between total shareholder return for SPX and the applicable S&P index	0.3354		0.7631
PSU's \| Non-officer employees
Stock-based Compensation
Vesting period					3 years	3 years
PSU's \| Officers
Stock-based Compensation
Vesting period					3 years
PSU's \| 2002 Stock Compensation Plan
Stock-based Compensation
Reduction of shares available for grant \| shares				1.5
PSU's \| S&P Composite 1500 Industrials Index
Assumptions in determining the fair value of awards granted
Annual expected stock price volatility	32.94%		19.90%
Risk-free interest rate	0.97%		0.76%
PSU's \| Maximum
Stock-based Compensation
Maximum vesting attainment (percentage)				150.00%
Percentage of target award, which can be earned by each eligible employee						125.00%	125.00%
PSU's \| Minimum
Stock-based Compensation
Percentage of target award, which can be earned by each eligible employee						25.00%	25.00%
PSU's \| Discontinued Operations, Disposed of by Means Other than Sale, Spinoff \| SPX Flow, Inc
Stock-based Compensation
Percentage of target award, which can be earned by each eligible employee				50.00%	50.00%
Additional stock compensation expense					$ 2.1
Long Term Cash Awards
Stock-based Compensation
Vesting period				3 years
Compensation expense				$ 1.0
Stock options
Stock-based Compensation
Vesting period	3 years
Assumptions in determining the fair value of awards granted
Annual expected stock price volatility	30.06%	27.86%
Annual expected dividend yield	0.00%	0.00%
Risk-free interest rate	1.50%	1.64%
Historical period upon which annual expected stock price volatility is based	6 years	6 years
Stock options \| Maximum
Assumptions in determining the fair value of awards granted
Daily treasury yield curve period upon which average risk-free interest rate is based	7 years
Stock options \| Minimum
Assumptions in determining the fair value of awards granted
Daily treasury yield curve period upon which average risk-free interest rate is based	5 years

Shareholders' Equity and Long-Term Incentive Compensation (Details 4) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions				3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 02, 2016	Oct. 14, 2015	Sep. 26, 2015	Dec. 31, 2015	Sep. 26, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Stock Options
Historical period upon which annual expected stock price volatility is based						3 years
Minimum
Stock Options
Daily treasury yield curve period upon which average risk-free interest rate is based						1 year
Maximum
Stock Options
Daily treasury yield curve period upon which average risk-free interest rate is based						3 years
PSU's, RSU's, and RS's
Unvested Restricted Stock Shares and Restricted Stock Units
Outstanding at the beginning of the period (in shares)					1,168	1,869	1,168	1,537
Granted (in shares)				510	451	423		519
Vested (in shares)					(262)	(528)		(604)
Canceled (in shares)				(11)
Forfeited (in shares)					(212)	(62)		(284)
Outstanding at the end of the period (in shares)				1,869		1,702	1,869	1,168
Weighted-Average Grant-Date Fair Value
Outstanding at the beginning of the period (in dollars per share)					$ 69.22	$ 17.63	$ 69.22	$ 58.39
Granted (in dollars per share)				$ 12.32	81.60	13.97		86.99
Vested (in dollars per share)					78.71	10.32		59.49
Canceled (in dollars per share)				20.34
Forfeited (in dollars per share)					$ 52.67	20.46		63.76
Outstanding at the end of the period (in dollars per share)				$ 17.63		$ 16.47	$ 17.63	$ 69.22
Unrecognized compensation cost
Unrecognized compensation cost related to restricted stock share and restricted stock unit						$ 17.0
PSU's, RSU's, and RS's \| Weighted Average
Unrecognized compensation cost
Weighted-average period over which unrecognized compensation costs will be recognized						1 year 9 months 18 days
PSU's, RSU's, and RS's \| Minimum
Stock Options
Vesting period						1 year
PSU's, RSU's, and RS's \| Maximum
Stock Options
Vesting period						3 years
PSU's, RSU's, and RS's \| SPX Flow, Inc \| Discontinued Operations, Disposed of by Means Other than Sale, Spinoff
Stock option activity, Shares
Terminations (in shares)			(785)
Conversion (in shares)			1,010
Stock options
Unrecognized compensation cost
Unrecognized compensation cost related to stock options						$ 3.2
Stock Options
Stock options granted (in shares)	505	883		883	323	505
Exercise price per share	$ 12.85	$ 12.36		$ 12.36	$ 85.87	$ 12.85
Fair value of stock option grants	$ 4.11	$ 3.76
Annual expected stock price volatility	30.06%	27.86%
Annual expected dividend yield	0.00%	0.00%
Risk-free interest rate	1.50%	1.64%
Expected life of stock option (in years)	6 years	6 years
Historical period upon which annual expected stock price volatility is based	6 years	6 years
Vesting period	3 years
Stock option activity, Shares
Options outstanding and exercisable at the beginning of the period (in shares)					0	1,047	0	0
No activity (in shares)								0
Granted (in shares)	505	883		883	323	505
Options outstanding and exercisable at the end of the period (in shares)				1,047		1,552	1,047	0
Stock option activity, Weighted Average Exercise Price
Options outstanding and exercisable, Beginning Balance (in dollars per share)					$ 0.00	$ 12.91	$ 0.00	$ 0.00
No activity, Weighted- Average Exercise Price (in dollars per share)								0.00
Granted, Weighted Average Exercise Price (in dollars per share)	$ 12.85	$ 12.36		$ 12.36	$ 85.87	12.85
Options outstanding and exercisable, Ending Balance (in dollars per share)				$ 12.91		$ 12.89	$ 12.91	$ 0.00
Stock options \| Weighted Average
Unrecognized compensation cost
Weighted-average period over which unrecognized compensation costs will be recognized						1 year 8 months 12 days
Stock options \| Minimum
Stock Options
Daily treasury yield curve period upon which average risk-free interest rate is based	5 years
Stock options \| Maximum
Stock Options
Maximum contractual term						10 years
Daily treasury yield curve period upon which average risk-free interest rate is based	7 years
Stock options \| SPX Flow, Inc \| Discontinued Operations, Disposed of by Means Other than Sale, Spinoff
Stock option activity, Shares
Terminations (in shares)				(282)
Conversion (in shares)				123
Stock option activity, Weighted Average Exercise Price
Terminations, Weighted Average Exercise Price (in dollars per share)				$ 85.87

Shareholders' Equity and Long-Term Incentive Compensation (Details 5) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Components of accumulated other comprehensive income, net of tax [Roll Forward]

$ 345.4

(48.2)

$ (133.9)

$ (224.9)

Accum. Other Comprehensive Income

191.6

345.4

Components of accumulated other comprehensive income, net of tax [Roll Forward]

Other comprehensive income (loss) before reclassifications

283.3

62.6

(10.8)

(134.2)

Amounts reclassified from accumulated other comprehensive income

(37.4)

^[1]

0.3

(48.2)

(133.9)

(224.9)

Accum. Other Comprehensive Income | SPX Flow, Inc | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff

235.1

283.3

62.6

Components of accumulated other comprehensive income, net of tax [Roll Forward]

Foreign Currency Translation Adjustment

354.6

Components of accumulated other comprehensive income, net of tax [Roll Forward]

Other comprehensive income (loss) before reclassifications

280.6

59.0

(11.9)

(132.9)

Amounts reclassified from accumulated other comprehensive income

(39.0)

^[1]

0.0

(50.9)

(132.9)

Foreign Currency Translation Adjustment | SPX Flow, Inc | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff

229.7

280.6

59.0

Components of accumulated other comprehensive income, net of tax [Roll Forward]

Foreign Currency Translation Adjustment | Dry Cooling Business | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Gain on Sale of Dry Cooling Business

354.5

Components of accumulated other comprehensive income, net of tax [Roll Forward]

Amounts reclassified from accumulated other comprehensive income

(40.4)

Foreign Currency Translation Adjustment | Balcke Durr | Discontinued Operations, Disposed of by Sale

Components of accumulated other comprehensive income, net of tax [Roll Forward]

Amounts reclassified from accumulated other comprehensive income

1.4

Net Unrealized Losses on Qualifying Cash Flow Hedges

Components of accumulated other comprehensive income, net of tax [Roll Forward]

Other comprehensive income (loss) before reclassifications

^[3]

(1.8)

^[2]

(1.3)

1.1

^[2]

(1.8)

^[3]

Amounts reclassified from accumulated other comprehensive income

2.2

^[1],[2]

1.2

^[3]

3.3

^[2]

(0.6)

^[3]

Pension and postretirement liability adjustment and other, tax provision benefit

1.5

^[2]

(1.8)

^[2],[3]

(1.3)

^[3]

0.9

(0.8)

(1.1)

Net Unrealized Losses on Qualifying Cash Flow Hedges | SPX Flow, Inc | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff

Components of accumulated other comprehensive income, net of tax [Roll Forward]

Pension and Postretirement Liability Adjustment and Other

^[3]

0.1

Components of accumulated other comprehensive income, net of tax [Roll Forward]

Other comprehensive income (loss) before reclassifications

^[5]

4.5

^[4]

4.9

0.0

^[4]

0.5

^[5]

Amounts reclassified from accumulated other comprehensive income

(0.6)

^[1],[4]

(0.9)

^[5]

(0.6)

^[4]

(0.4)

^[5]

Pension and postretirement liability adjustment and other, tax provision benefit

3.9

^[4]

4.5

^[4],[5]

4.9

^[5]

$ 2.7

3.1

$ 3.0

Pension and Postretirement Liability Adjustment and Other | SPX Flow, Inc | Discontinued Operations, Disposed of by Means Other than Sale, Spinoff

Components of accumulated other comprehensive income, net of tax [Roll Forward]

Amounts reclassified from each component of accumulated comprehensive income

^[5]

$ 0.0

[1]	In connection with the sale of our dry cooling business, we reclassified $40.4 of other comprehensive income related to foreign currency translation to “Gain on sale of dry cooling business,” partially offset by the reclassification, in connection with sale of Balcke Dürr, of $1.4 of other comprehensive loss related to foreign currency translation to “Gain (loss) on disposition of discontinued operations, net of tax.”
[2]	Net of tax (provision) benefit of $(0.9) and $0.8 as of December 31, 2016 and 2015, respectively.
[3]	Net of tax benefit of $0.8 and $1.1 as of December 31, 2015 and 2014, respectively.
[4]	Net of tax provision of $2.7 and $3.1 as of December 31, 2016 and 2015, respectively. The balances as of December 31, 2016 and 2015 include unamortized prior service credits.
[5]	Net of tax provision of $3.1 and $3.0 as of December 31, 2015 and 2014, respectively. The balances as of December 31, 2015 and 2014 include unamortized prior service credits.

Shareholders' Equity and Long-Term Incentive Compensation (Details 6) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2016

Oct. 01, 2016

Jul. 02, 2016

Apr. 02, 2016

Dec. 31, 2015

^[2]

Sep. 26, 2015

^[3]

Jun. 27, 2015

^[3]

Mar. 28, 2015

^[2],[3]

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Amounts reclassified from accumulated other comprehensive income

$ (395.3)

^[1],[2]

$ (345.0)

^[1],[3]

$ (371.4)

^[1],[3]

$ (360.6)

^[1],[2],[3]

$ (468.4)

^[1]

$ (334.1)

^[1]

$ (410.6)

^[1]

$ (345.9)

^[1]

$ (1,472.3)

^[4]

$ (1,559.0)

^[4]

$ (1,694.4)

^[4]

Cost of products sold

1,096.5

1,283.1

1,328.0

Pre-tax

(39.4)

154.3

(252.1)

Income taxes

9.1

(2.7)

137.5

86.1

^[2]

(1.9)

^[3]

(3.0)

^[3]

(13.6)

^[2],[3]

$ 12.7

$ 130.7

$ (36.4)

$ 10.0

67.6

117.0

(383.9)

301.0

387.8

511.2

Gain (loss) on disposition of discontinued operations, net of tax

(18.4)

0.0

81.3

5.2

$ (13.3)

Disposal Group, Disposed of by Sale, Not Discontinued Operations | Dry Cooling Business

Amounts reclassified from each component of accumulated comprehensive income

Discontinued Operations, Disposed of by Sale | Balcke Durr

$ (1.7)

$ (1.2)

$ (17.9)

(18.4)

Amounts reclassified from each component of accumulated comprehensive income

Gain (loss) on disposition of discontinued operations, net of tax

$ 78.6

Net Unrealized Gains (Losses) on Qualifying Cash Flow Hedges | Amount Reclassified from AOCI

Amounts reclassified from each component of accumulated comprehensive income

Pre-tax

3.0

2.2

Income taxes

(0.8)

(1.0)

Amounts reclassified from accumulated other comprehensive income

2.2

1.2

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

Net Unrealized Gains (Losses) on Qualifying Cash Flow Hedges | Commodity contracts | Amount Reclassified from AOCI

1.0

(0.6)

Amounts reclassified from each component of accumulated comprehensive income

Cost of products sold

2.0

2.8

Pension and Postretirement Liability Adjustment

Amounts reclassified from each component of accumulated comprehensive income

Income taxes

0.4

0.2

Amounts reclassified from accumulated other comprehensive income

(0.6)

(0.9)

Pension and Postretirement Liability Adjustment | Amount Reclassified from AOCI

Amounts reclassified from each component of accumulated comprehensive income

Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest | Amount Reclassified from AOCI

(1.0)

(1.1)

Amounts reclassified from each component of accumulated comprehensive income

Amounts reclassified from accumulated other comprehensive income

(39.0)

0.0

Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest | 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

Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest | Amount Reclassified from AOCI | Discontinued Operations, Disposed of by Sale | Balcke Durr

(40.4)

0.0

Amounts reclassified from each component of accumulated comprehensive income

Gain (loss) on disposition of discontinued operations, net of tax

$ 1.4

$ 0.0

[1]	During the third quarter of 2015, we revised our estimates of expected revenues and profits associated with our large power projects in South Africa. As a result of these revisions, we reduced revenue and gross profit by $57.2 and $95.0, respectively. In addition, the revision resulted in an increase to “Net loss attributable to noncontrolling interests” of $23.8. See Notes 5 and 13 for additional details.
[2]	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. This practice only affects the quarterly reporting periods and not the annual reporting period. We had six more days in the first quarter of 2016 and we had five fewer days in the fourth quarter of 2016 than in the respective 2015 periods.
[3]	During the first three quarters of 2015, there was a significant amount of general and administrative costs associated with corporate employees and other corporate support that transferred to SPX FLOW at the time of the Spin-Off and did not meet the requirements to be presented within discontinued operations.
[4]	Revenues are included in the above geographic areas based on the country that recorded the customer revenue.

Shareholders' Equity and Long-Term Incentive Compensation (Details 7) - USD ($)		12 Months Ended
	Dec. 18, 2013	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Common Stock in Treasury
Common stock repurchased (in shares)				4,852,000
Total cash consideration paid for common stock repurchased		$ 0	$ 0	$ 488,800,000
Retirement of treasury stock (in shares)		50,000,000
Amount of retirement of treasury stock		$ 0
Dividends
Dividends declared			30,900,000	63,200,000
Dividends paid			$ 45,900,000	$ 59,800,000
Preferred Stock
Authorized no par value preferred stock (in shares)		3,000,000.0	3,000,000	3,000,000
Common Stock In Treasury
Common Stock in Treasury
Common stock repurchased (in shares)				4,852,000
Retirement of treasury stock (in shares)		50,000,000
Amount of retirement of treasury stock		$ 2,948,100,000
Decrease in stock by the settlement of restricted stock units		17,900,000	$ 7,000,000	$ 13,800,000
Increase in the stock for common stock surrendered by recipients of restricted stock as a means of funding minimum income tax withholding		$ 0	$ 1,800,000	$ 7,900,000
Common Stock In Treasury \| Share Repurchase Program
Common Stock in Treasury
Authorized repurchase amount under the written trading plan	$ 500,000,000.0
Common stock repurchased (in shares)	115,000			4,852,000
Total cash consideration paid for common stock repurchased	$ 11,200,000			$ 488,800,000

Fair Value (Details) € in Millions		3 Months Ended			12 Months Ended
Fair Value (Details) € in Millions	Dec. 30, 2016 USD ($)	Dec. 31, 2016 USD ($)	Apr. 02, 2016 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 30, 2016 EUR (€)
Fair Value Disclosures [Abstract]
Asset transfers between levels					$ 0	$ 0
Liability transfers between levels					0	0
Assets and liabilities measured at fair value on a recurring basis
Gain (loss) on sale of business, net of tax					81,300,000	$ 5,200,000	$ (13,300,000)
Shanghai Electric Group Co, Ltd \| Cooling Equipment And Services
Assets and liabilities measured at fair value on a recurring basis
Impairment charge for investment in joint venture							18,000,000
SPX Heat Transfer Business
Assets and liabilities measured at fair value on a recurring basis
Impairment charge		$ 23,900,000
SPX Heat Transfer Business \| Trademarks
Assets and liabilities measured at fair value on a recurring basis
Impairment charge related to trademarks		2,200,000	$ 4,000,000	$ 10,900,000			$ 10,900,000
Discontinued Operations, Disposed of by Sale \| Balcke Durr
Assets and liabilities measured at fair value on a recurring basis
Gain (loss) on sale of business, net of tax		78,600,000
Discontinued Operations, Disposed of by Sale \| Indemnification Agreement \| Balcke Durr \| Fair Value, Measurements, Nonrecurring \| Significant Unobservable Inputs (Level 3)
Assets and liabilities measured at fair value on a recurring basis
Fair value of indemnities		4,800,000			4,800,000
Discontinued Operations, Disposed of by Sale \| Guarantees and Bonds \| Balcke Durr \| Fair Value, Measurements, Nonrecurring \| Significant Unobservable Inputs (Level 3)
Assets and liabilities measured at fair value on a recurring basis
Fair value of guarantee and bonds		$ 9,900,000			$ 9,900,000
Discontinued Operations, Disposed of by Sale \| Subsidiary of matures AG (the Buyer) \| Balcke Durr
Assets and liabilities measured at fair value on a recurring basis
Amount of guarantees \| €								€ 79.0
Gain (loss) on sale of business, net of tax	$ 78,600,000
Discontinued Operations, Disposed of by Sale \| Subsidiary of matures AG (the Buyer) \| Balcke-Durr GmbH \| Balcke Durr
Assets and liabilities measured at fair value on a recurring basis
Cash collateral \| €								4.0
Discontinued Operations, Disposed of by Sale \| Subsidiary of matures AG (the Buyer) \| Bank and Surety Bonds \| Balcke Durr
Assets and liabilities measured at fair value on a recurring basis
Amount of guarantees \| €								79.0
Discontinued Operations, Disposed of by Sale \| Subsidiary of matures AG (the Buyer) \| Indemnification Agreement \| mutares AG \| Balcke Durr
Assets and liabilities measured at fair value on a recurring basis
Amount of guarantees \| €								€ 5.0
Discontinued Operations, Disposed of by Sale \| Subsidiary of matures AG (the Buyer) \| Guarantees and Bonds \| Balcke Durr
Assets and liabilities measured at fair value on a recurring basis
Gain (loss) on sale of business, net of tax	$ 5,100,000

Quarterly Results (Unaudited) (Details) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2016

Oct. 01, 2016

Jul. 02, 2016

Apr. 02, 2016

Dec. 31, 2015

Sep. 26, 2015

Jun. 27, 2015

^[3]

Mar. 28, 2015

^[2],[3]

Dec. 31, 2014

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

$ 395.3

^[1],[2]

$ 345.0

^[1],[3]

$ 371.4

^[1],[3]

$ 360.6

^[1],[2],[3]

$ 468.4

^[1],[2]

$ 334.1

^[1],[3]

$ 410.6

^[1]

$ 345.9

^[1]

$ 1,472.3

^[4]

$ 1,559.0

^[4]

$ 1,694.4

^[4]

Gross profit (loss)

^[1]

114.0

^[2]

80.8

^[3]

91.1

^[3]

89.9

^[2],[3]

121.5

^[2]

(2.7)

^[3]

86.7

70.4

Income (loss) from discontinued operations, net of tax

(3.0)

^[2],[5]

6.6

^[3],[5]

6.5

^[3],[5]

20.2

^[2],[3],[5]

16.4

^[2],[5]

(122.7)

^[3],[5]

(11.4)

^[5]

(33.9)

^[5]

30.3

(151.6)

114.6

(83.1)

^[2],[6]

(4.7)

^[3],[6]

(3.5)

^[3],[6]

(6.6)

^[2],[3],[6]

(29.1)

^[2],[6]

(8.0)

^[3],[6]

47.8

^[6]

23.9

^[6]

(97.9)

34.6

^[7]

269.3

Net income (loss)

(86.1)

^[2]

1.9

^[3]

3.0

^[3]

13.6

^[2],[3]

(12.7)

^[2]

(130.7)

^[3]

36.4

(10.0)

(67.6)

(117.0)

383.9

Less: Net loss attributable to noncontrolling interests

0.0

^[1],[2]

0.0

^[1],[3]

(1.0)

^[1],[3]

0.6

^[1],[2],[3]

(3.2)

^[1],[2]

(25.6)

^[1],[3]

(2.6)

^[1]

(2.9)

^[1]

(0.4)

(34.3)

(9.5)

Net income (loss) attributable to SPX Corporation common shareholders

(86.1)

^[2]

1.9

^[3]

4.0

^[3]

13.0

^[2],[3]

(9.5)

^[2]

(105.1)

^[3]

39.0

(7.1)

(67.2)

(82.7)

393.4

0.0

^[2],[8]

0.0

^[3],[8]

(18.1)

^[3],[8]

0.0

^[2],[3],[8]

0.0

^[2],[8]

0.0

^[3],[8]

0.0

^[8]

0.0

^[8]

(18.1)

0.0

Net income (loss) attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest

$ (86.1)

^[2]

$ 1.9

^[3]

$ (14.1)

^[3]

$ 13.0

^[2],[3]

$ (9.5)

^[2]

$ (105.1)

^[3]

$ 39.0

$ (7.1)

$ (85.3)

$ (82.7)

$ 393.4

Basic income (loss) per share of common stock:

Continuing operations (in dollars per share)

$ (0.07)

^[2]

$ 0.16

^[3]

$ (0.25)

^[3]

$ 0.47

^[2],[3]

$ 0.48

^[2]

$ (2.39)

^[3]

$ (0.23)

$ (0.77)

$ 0.30

$ (2.90)

$ 2.98

Discontinued operations, net of tax (in dollars per share)

(1.99)

^[2]

(0.12)

^[3]

(0.09)

^[3]

(0.16)

^[2],[3]

(0.71)

^[2]

(0.19)

^[3]

1.19

0.59

(2.35)

0.87

6.30

Net income (loss) per share attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest (in dollars per share)

(2.06)

^[2]

0.04

^[3]

(0.34)

^[3]

0.31

^[2],[3]

(0.23)

^[2]

(2.58)

^[3]

0.96

(0.18)

(2.05)

(2.03)

9.28

Diluted income (loss) per share of common stock:

Continuing operations (in dollars per share)

(0.07)

^[2]

0.16

^[3]

(0.25)

^[3]

0.47

^[2],[3]

0.47

^[2]

(2.39)

^[3]

(0.23)

(0.77)

0.30

(2.90)

2.94

Discontinued operations, net of tax (in dollars per share)

(1.99)

^[2]

(0.12)

^[3]

(0.09)

^[3]

(0.16)

^[2],[3]

(0.70)

^[2]

(0.19)

^[3]

1.19

0.59

(2.32)

0.87

6.20

Net income (loss) per share attributable to SPX Corporation common shareholders after adjustment related to redeemable noncontrolling interest (in dollars per share)

$ (2.06)

^[2]

$ 0.04

^[3]

$ (0.34)

^[3]

$ 0.31

^[2],[3]

$ (0.23)

^[2]

$ (2.58)

^[3]

$ 0.96

$ (0.18)

$ (2.02)

$ (2.03)

$ 9.14

Reduction in segment income

$ (395.3)

^[1],[2]

$ (345.0)

^[1],[3]

$ (371.4)

^[1],[3]

$ (360.6)

^[1],[2],[3]

$ (468.4)

^[1],[2]

$ (334.1)

^[1],[3]

$ (410.6)

^[1]

$ (345.9)

^[1]

$ (1,472.3)

^[4]

$ (1,559.0)

^[4]

$ (1,694.4)

^[4]

(55.0)

122.2

185.3

Increase in net loss attributable to noncontrolling interests

0.0

^[1],[2]

0.0

^[1],[3]

(1.0)

^[1],[3]

0.6

^[1],[2],[3]

(3.2)

^[1],[2]

(25.6)

^[1],[3]

(2.6)

^[1]

(2.9)

^[1]

(0.4)

(34.3)

(9.5)

Recognized pre-tax actuarial losses

10.2

1.8

9.6

11.4

1.8

11.4

14.8

5.1

18.4

0.0

Quarterly Financial Information Disclosure [Abstract]

81.3

5.2

(13.3)

0.0

^[2],[8]

0.0

^[3],[8]

18.1

^[3],[8]

0.0

^[2],[3],[8]

$ 0.0

^[2],[8]

0.0

^[3],[8]

$ 0.0

^[8]

$ 0.0

^[8]

18.1

0.0

South Africa

^[4],[9]

105.4

54.2

109.2

Put Option | SPX Technologies | BEE Partner | South Africa

^[4],[9]

(105.4)

(54.2)

(109.2)

Quarterly Financial Information Disclosure [Abstract]

(18.1)

Disposal Group, Disposed of by Sale, Not Discontinued Operations | Dry Cooling Business

18.1

Discontinued Operations, Disposed of by Sale | Balcke Durr

$ 1.7

$ 1.2

17.9

18.4

Quarterly Financial Information Disclosure [Abstract]

Income (loss) from discontinued operations, net of tax

(95.2)

(39.6)

^[7]

1.5

SPX Heat Transfer Business

78.6

Impairment charge

$ 26.1

$ 4.0

30.1

Quarterly Financial Information Disclosure [Abstract]

^[9]

736.4

797.6

914.3

Scenario, Adjustment | Engineered Solutions segment

^[9]

$ (736.4)

$ (797.6)

$ (914.3)

Quarterly Financial Information Disclosure [Abstract]

Less: Net loss attributable to noncontrolling interests

(57.2)

23.8

Reduction in segment income

57.2

95.0

Increase in net loss attributable to noncontrolling interests

$ 23.8

Scenario, Adjustment | Engineered Solutions segment | South Africa

Quarterly Financial Information Disclosure [Abstract]

$ (25.0)