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INVENTORIES, NET
 6 Months Ended
Jul. 02, 2022
Inventory Disclosure [Abstract]  
INVENTORIES, NET INVENTORIES, NET
Inventories at July 2, 2022 and December 31, 2021 comprised the following:
July 2,
2022		December 31,
2021
Finished goods$63.6 $55.1 
Work in process28.6 21.1 
Raw materials and purchased parts143.6 113.6 
Total inventories$235.8 $189.8 
    

Inventories include material, labor and factory overhead costs and are reduced, when necessary, to estimated net realizable values.

As mentioned in Note 1, during the fourth quarter of 2021, we converted the inventory accounting for certain of our domestic businesses within our HVAC reportable segment from the LIFO method to the FIFO method. The effects of this accounting change have been retrospectively applied to all periods presented. The impact of this change on our condensed consolidated statements of operations and condensed consolidated statements of comprehensive income for the three and six months ended July 3, 2021 was as follows:

As Computed under LIFOEffect of ChangeAs Adjusted
Consolidated Statement of Operations for three months ended July 3, 2021:
Income from continuing operations before income taxes$19.6 $0.5 $20.1 
Income tax provision(2.3)(0.1)(2.4)
Income from continuing operations17.3 0.4 17.7 
Income from discontinued operations, net of tax44.2 — 44.2 
Net income$61.5 $0.4 $61.9 
Basic income per share of common stock:
Income from continuing operations, net of tax$0.38 $0.01 $0.39 
Income from discontinued operations, net of tax0.98 — 0.98 
Net income attributable to SPX common stockholders$1.36 $0.01 $1.37 
Diluted income per share of common stock:
Income from continuing operations, net of tax$0.37 $0.01 $0.38 
Income from discontinued operations, net of tax0.95 — 0.95 
Net income attributable to SPX common stockholders$1.32 $0.01 $1.33 
Total comprehensive income$60.9 $0.4 $61.3 
As Computed under LIFOEffect of ChangeAs Adjusted
Consolidated Statement of Operations for six months ended July 3, 2021:
Income from continuing operations before income taxes$47.9 $0.5 $48.4 
Income tax provision(7.6)(0.1)(7.7)
Income from continuing operations40.3 0.4 40.7 
Income from discontinued operations, net of tax48.0 — 48.0 
Net income$88.3 $0.4 $88.7 
Basic income per share of common stock:
Income from continuing operations, net of tax$0.89 $0.01 $0.90 
Income from discontinued operations, net of tax1.06 — 1.06 
Net income attributable to SPX common stockholders$1.95 $0.01 $1.96 
Diluted income per share of common stock:
Income from continuing operations, net of tax$0.87 $0.01 $0.88 
Income from discontinued operations, net of tax1.03 — 1.03 
Net income attributable to SPX common stockholders$1.90 $0.01 $1.91 
Total comprehensive income$90.4 $0.4 $90.8