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Quarterly Results (Unaudited)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results (Unaudited)
Quarterly Results (Unaudited)
 
First (5)
 
Second (5)
 
Third (5)
 
Fourth (5)
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Operating revenues (1)
$
340.6

 
$
360.6

 
$
349.7

 
$
371.4

 
$
348.5

 
$
345.0

 
$
387.0

 
$
395.3

Gross profit (1)
88.1

 
89.9

 
76.1

 
91.1

 
85.1

 
80.8

 
80.9

 
114.0

Income (loss) from continuing operations, net of tax (2)
10.3

 
20.2

 
(8.3
)
 
6.5

 
22.0

 
6.6

 
60.0

 
(3.0
)
Income (loss) from discontinued operations, net of tax (3)
7.1

 
(6.6
)
 
(0.7
)
 
(3.5
)
 
0.3

 
(4.7
)
 
(1.4
)
 
(83.1
)
Net income (loss)
17.4

 
13.6

 
(9.0
)
 
3.0

 
22.3

 
1.9

 
58.6

 
(86.1
)
Less: Net income (loss) attributable to noncontrolling interests
—

 
0.6

 
—

 
(1.0
)
 
—

 
—

 
—

 
—

Net income (loss) attributable to SPX Corporation common shareholders
17.4

 
13.0

 
(9.0
)
 
4.0

 
22.3

 
1.9

 
58.6

 
(86.1
)
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
$
17.4

 
$
13.0

 
$
(9.0
)
 
$
(14.1
)
 
$
22.3

 
$
1.9

 
$
58.6

 
$
(86.1
)
Basic income (loss) per share of common stock:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Continuing operations, net of tax
$
0.24

 
$
0.47

 
$
(0.19
)
 
$
(0.25
)
 
$
0.51

 
$
0.16

 
$
1.41

 
$
(0.07
)
Discontinued operations, net of tax
0.17

 
(0.16
)
 
(0.02
)
 
(0.09
)
 
0.01

 
(0.12
)
 
(0.03
)
 
(1.99
)
Net income (loss)
$
0.41

 
$
0.31

 
$
(0.21
)
 
$
(0.34
)
 
$
0.52

 
$
0.04

 
$
1.38

 
$
(2.06
)
Diluted income (loss) per share of common stock:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Continuing operations, net of tax
$
0.24

 
$
0.47

 
$
(0.19
)
 
$
(0.25
)
 
$
0.50

 
$
0.16

 
$
1.35

 
$
(0.07
)
Discontinued operations, net of tax
0.16

 
(0.16
)
 
(0.02
)
 
(0.09
)
 
0.01

 
(0.12
)
 
(0.03
)
 
(1.99
)
Net income (loss)
$
0.40

 
$
0.31

 
$
(0.21
)
 
$
(0.34
)
 
$
0.51

 
$
0.04

 
$
1.32

 
$
(2.06
)
___________________________________________________________________
Note:    The sum of the quarters’ income per share may not equal the full year per share amounts.
(1) 
During the second and fourth quarters of 2017, we determined that additional cost would be required in order to complete certain remaining portions of large power projects in South Africa. As such, we revised our estimates of revenues and costs associated with the projects. These revisions resulted in charges to “Income (loss) from continuing operations before income taxes” of $22.9 and $29.9, respectively, which is comprised of a reduction in revenue of $13.5 and $23.4, respectively, and increases in cost of products sold of $9.4 and $6.5, respectively, in the second and fourth quarters of 2017. See Notes 5 and 13 to our consolidated financial statements for additional details.
(2) 
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 Notes 1 and 4 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 second quarter of 2016, we recognized pre-tax actuarial losses of $1.8 associated with certain of our U.S. pension plans. See Note 9 for additional details.
During the third quarter of 2017, in connection with a favorable legal ruling, we reduced our unfunded liability related to postretirement benefits resulting in a pre-tax gain of $2.6. See Note 9 for additional details.
During the third quarter of 2017, we settled a contract that had been suspended and then ultimately cancelled by a customer resulting in a pre-tax gain of $10.2. See Note 5 for additional details.
During the fourth quarter of 2017 and 2016, we recognized pre-tax actuarial losses of $4.2 and $10.2, respectively, associated with our pension and postretirement benefit plans. See Note 9 for additional details.
During the fourth quarter of 2017, we recognized an income tax benefit of $77.6 for a worthless stock deduction in the U.S. associated with our investment in a South African subsidiary. See Note 10 for additional details.
During the fourth quarter of 2017, we recorded a provisional net charge of $11.8 associated with the impact of the new corporate tax regulations that were enacted in the U.S.. See Note 10 for additional details.
During the fourth quarter of 2017, we recorded a pre-tax charge of $0.9 and a pre-tax gain of $2.7 associated with an amendment of our Credit Agreement, with the charge related to the write-off of deferred financing costs and the gain related to the discontinuance of hedge accounting on our interest rate swap agreements. See Notes 11 and 12 for additional details.

(3) 
During the fourth quarter of 2016, we recorded a net loss on the sale of Balcke Dürr of $78.6. During the first quarter of 2017, we reduced the net loss by $7.2. During the second quarter of 2017, we increased the net loss by $0.4. 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) 
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 2017 are April 1, July 1 and September 30, compared to the respective April 2, July 2 and October 1, 2016 dates. This practice only affects the quarterly reporting periods and not the annual reporting period. We had two fewer days in the first quarter of 2017 and had one more day in the fourth quarter of 2017 than in the respective 2016 periods.