XML 28 R86.htm IDEA: XBRL DOCUMENT v2.4.0.6
Quarterly Results (Unaudited) (Details) (USD $)
3 Months Ended 12 Months Ended
Dec. 31, 2011
Oct. 01, 2011
D
Jul. 02, 2011
D
Apr. 02, 2011
plan
Dec. 31, 2010
Oct. 02, 2010
D
Jul. 03, 2010
D
Apr. 03, 2010
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Quarterly Results (Unaudited)                      
Operating revenues $ 1,263,700,000 $ 1,166,000,000 $ 1,136,800,000 $ 984,900,000 $ 1,115,900,000 $ 1,094,700,000 $ 989,900,000 $ 913,400,000 $ 4,551,400,000 $ 4,113,900,000 $ 4,175,100,000
Gross profit 347,000,000 323,600,000 314,400,000 292,800,000 334,700,000 327,700,000 301,100,000 270,800,000      
Income from continuing operations 58,400,000 50,800,000 25,000,000 20,700,000 64,400,000 35,000,000 64,600,000 14,000,000 154,900,000 178,000,000 224,200,000
Income (loss) from discontinued operation, net of tax 5,100,000 11,500,000 10,000,000 4,100,000 (600,000) 4,700,000 13,400,000 7,300,000 30,700,000 24,800,000 (208,000,000)
Net income 63,500,000 62,300,000 35,000,000 24,800,000 63,800,000 39,700,000 78,000,000 21,300,000 185,600,000 202,800,000 16,200,000
Less: Net income (loss) attributable to noncontrolling interests 1,000,000 1,600,000 700,000 1,700,000 (1,500,000) 300,000 (800,000) (800,000) 5,000,000 (2,800,000) (15,500,000)
Net income attributable to SPX Corporation common shareholders 62,500,000 60,700,000 34,300,000 23,100,000 65,300,000 39,400,000 78,800,000 22,100,000 180,600,000 205,600,000 31,700,000
Basic earnings (loss) per share of common stock:                      
Continuing operations (in dollars per share) $ 1.14 $ 0.97 $ 0.48 $ 0.38 $ 1.32 $ 0.70 $ 1.32 $ 0.30 $ 2.97 $ 3.64 $ 4.50
Discontinued operations, net of tax (in dollars per share) $ 0.10 $ 0.23 $ 0.20 $ 0.08 $ (0.01) $ 0.09 $ 0.27 $ 0.15 $ 0.61 $ 0.50 $ (3.86)
Net income (in dollars per share) $ 1.24 $ 1.20 $ 0.68 $ 0.46 $ 1.31 $ 0.79 $ 1.59 $ 0.45 $ 3.58 $ 4.14 $ 0.64
Diluted earnings (loss) per share of common stock:                      
Continuing operations (in dollars per share) $ 1.13 $ 0.97 $ 0.47 $ 0.37 $ 1.30 $ 0.69 $ 1.30 $ 0.29 $ 2.94 $ 3.59 $ 4.47
Discontinued operations, net of tax (in dollars per share) $ 0.10 $ 0.23 $ 0.20 $ 0.08 $ (0.01) $ 0.09 $ 0.27 $ 0.15 $ 0.60 $ 0.49 $ (3.83)
Net income per share attributable to SPX Corporation common shareholders (in dollars per share) $ 1.23 $ 1.20 $ 0.67 $ 0.45 $ 1.29 $ 0.78 $ 1.57 $ 0.44 $ 3.54 $ 4.08 $ 0.64
Charges associated with restructuring initiatives 11,400,000 7,200,000 4,300,000 2,400,000 15,200,000 7,500,000 3,900,000 4,100,000      
Income (expense) for foreign currency transactions and FX forward contracts and FX embedded derivatives (4,800,000) (30,900,000) (3,500,000) (2,200,000) (4,900,000) (6,900,000) (2,900,000) (12,800,000)      
Impairment charges 3,600,000   24,700,000           28,300,000 1,700,000 6,100,000
Number of domestic pension plans amortized       1              
Reduction in pension expense for each quarter 5,000,000 5,000,000 5,000,000 5,000,000              
Tax credits related to expansion of power transformer facility in Waukesha, WI 4,000,000 2,000,000 900,000 800,000         7,700,000    
Income tax benefit associated with the release of the valuation allowance on existing foreign tax credit carryforwards   27,800,000             27,800,000    
Federal income taxes recorded in connection with plan to repatriate a portion of the earnings of a foreign subsidiary   6,900,000             6,900,000    
Charge resulting from insolvency of insurance carrier for certain risk management matters 19,400,000                    
Charge associated with amounts that are deemed uncollectible from an insolvent insurer, portion recorded in other expense, net 18,200,000                    
Charge associated with amounts that are deemed uncollectible from an insolvent insurer, portion recorded in discontinued operations, net of tax 1,200,000                    
Decrease in incentive compensation expense for the fourth quarter of 2011 related to the fourth quarter of 2010 13,300,000                    
Domestic charge for the taxation of prescription drug costs for retirees that partially offset benefits               6,200,000   6,200,000  
Income tax benefit resulting from settlement with taxing authority recorded in continuing operations             22,000,000     18,200,000  
Income tax benefit resulting from settlement with taxing authority recorded in discontinued operations             7,300,000 (3,800,000)   7,300,000  
Favorable impact effective income tax rate related to uncertain tax positions         16,000,000         16,000,000  
Repatriation of foreign earnings that partially offset benefits         3,600,000         3,600,000  
Number of days in the quarter   91 91     91 91        
Sale of discontinued operations                      
Tax benefits associated with the conclusion of a Canadian appeals process     2,500,000           2,500,000    
Industrial Products and Services
                     
Quarterly Results (Unaudited)                      
Operating revenues                 865,200,000 849,600,000 945,500,000
Sale of discontinued operations                      
Insurance recovery related to a product liability matter       6,300,000              
Thermal Equipment and Services reportable segment
                     
Quarterly Results (Unaudited)                      
Operating revenues                 1,644,200,000 1,602,100,000 1,595,500,000
Sale of discontinued operations                      
Net charges associated with changes in cost estimates for certain contracts in South Africa 10,700,000                    
Clyde Union
                     
Sale of discontinued operations                      
Charges associated with FX forward contracts used to hedge the acquisition purchase price 4,000,000 30,600,000                  
PSD Inc.
                     
Sale of discontinued operations                      
Cash consideration received in sale of discontinued operation               3,000,000      
Gain on sale, net of taxes               $ 3,600,000