EQUITY AND STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 29, 2013

EQUITY AND STOCK-BASED COMPENSATION

Schedule of weighted-average shares outstanding used in the computation of basic and diluted earnings per share

	Three months ended		Six months ended
	June 29,	June 30,	June 29,	June 30,
	2013	2012	2013	2012
Weighted-average number of common shares used in basic income per share	45.678	49.954	46.044	50.283
Dilutive securities — employee stock options, restricted stock shares and restricted stock units	0.294	0.955	0.660	0.901
Weighted-average number of common shares and dilutive securities used in diluted income per share	45.972	50.909	46.704	51.184

Schedule of changes in the components of accumulated other comprehensive loss

	Foreign Currency Translation Adjustment			Net Unrealized Losses on Qualifying Cash Flow Hedges (1)			Net Unrealized Losses on Available-for- Sale Securities			Pension and Postretirement Liability Adjustment and Other (2)			Total
Balance at beginning of period	$	298.1		$	(3.3	)	$	(3.1	)	$	(520.6	)	$	(228.9	)
Other comprehensive income (loss) before reclassifications	(72.3		)	(1.6		)	(0.7		)	2.2			(72.4		)
Amounts reclassified from accumulated other comprehensive loss	—			0.5			—			13.0			13.5
Current-period other comprehensive loss	(72.3		)	(1.1		)	(0.7		)	15.2			(58.9		)
Balance at end of period	$	225.8		$	(4.4	)	$	(3.8	)	$	(505.4	)	$	(287.8	)

(1) Net of tax benefit of $2.9 and $2.5 as of June 29, 2013 and December 31, 2012, respectively.

(2) Net of tax benefit of $310.9 and $318.5 as of June 29, 2013 and December 31, 2012, respectively. Includes $5.0 and $3.8 related to our share of the pension liability adjustment for EGS as of June 29, 2013 and December 31, 2012, respectively.

Schedule of amounts reclassified from each component of accumulated comprehensive loss

	Amount Reclassified from AOCI			Affected Line Item in the Condensed Consolidated Statement of Operations
Losses on qualifying cash flow hedges:
FX forward contracts	$	0.8		Cost of products sold
Commodity contracts	(0.1		)	Cost of products sold
Pre-tax	0.7
Income taxes	(0.2		)
	$	0.5
Amortization of pension and postretirement items:
Unrecognized losses and prior service credits	$	9.7		Cost of products sold
Unrecognized losses and prior service credits	11.0			Selling, general and administrative
Pre-tax	20.7
Income taxes	(7.7		)
	$	13.0

Schedule of changes in equity

	June 29, 2013									June 30, 2012
	SPX									SPX
	Corporation									Corporation
	Shareholders’			Noncontrolling			Total			Shareholders’			Noncontrolling			Total
	Equity			Interests			Equity			Equity			Interests			Equity
Equity, beginning of period	$	2,062.9		$	11.8		$	2,074.7		$	2,280.9		$	9.5		$	2,290.4
Net income	38.8			2.0			40.8			47.4			0.8			48.2
Net unrealized losses on qualifying cash flow hedges, net of tax benefit of $2.9 and $0.2 for the three months ended June 29, 2013 and June 30, 2012, respectively	(5.1		)	—			(5.1		)	—			—			—
Net unrealized losses on available-for-sale securities	(0.2		)	—			(0.2		)	(1.4		)	—			(1.4		)
Pension liability adjustment, net of tax provision of $4.1 and $3.3 for the three months ended June 29, 2013 and June 30, 2012, respectively	6.7			—			6.7			6.8			—			6.8
Foreign currency translation adjustments	14.9			(0.7		)	14.2			(136.0		)	(0.3		)	(136.3		)
Total comprehensive income (loss), net	55.1			1.3			56.4			(83.2		)	0.5			(82.7		)
Dividends declared	(11.5		)	—			(11.5		)	(12.7		)	—			(12.7		)
Exercise of stock options and other incentive plan activity, including related tax benefit of $0.5 for the three months ended June 30, 2012	4.3			—			4.3			5.4			—			5.4
Amortization of restricted stock and restricted stock unit grants, including $0.1 relating to discontinued operations for the three months ended June 30, 2012	5.3			—			5.3			6.6			—			6.6
Restricted stock and restricted stock unit vesting, net of tax withholdings	0.2			—			0.2			—			—			—
Common stock repurchases	(117.6		)	—			(117.6		)	(31.8		)	—			(31.8		)
Other changes in noncontrolling interests	—			(0.2		)	(0.2		)	—			0.1			0.1
Equity, end of period	$	1,998.7		$	12.9		$	2,011.6		$	2,165.2		$	10.1		$	2,175.3

	June 29, 2013									June 30, 2012
	SPX									SPX
	Corporation									Corporation
	Shareholders’			Noncontrolling			Total			Shareholders’			Noncontrolling		Total
	Equity			Interests			Equity			Equity			Interests		Equity
Equity, beginning of period	$	2,268.7		$	11.3		$	2,280.0		$	2,227.3		$	10.0	$	2,237.3
Net income	41.1			3.3			44.4			60.9			0.1		61.0
Net unrealized gains (losses) on qualifying cash flow hedges, net of tax (provision) benefit of $0.4 and $(0.3) for the six months ended June 29, 2013 and June 30, 2012, respectively	(1.1		)	—			(1.1		)	0.6			—		0.6
Net unrealized gains (losses) on available-for-sale securities	(0.7		)	—			(0.7		)	1.4			—		1.4
Pension liability adjustment, net of tax provision of $7.6 and $5.1 for the six months ended June 29, 2013 and June 30, 2012, respectively	15.2			—			15.2			9.5			—		9.5
Foreign currency translation adjustments	(72.3		)	(1.3		)	(73.6		)	(77.2		)	—		(77.2		)
Total comprehensive income (loss), net	(17.8		)	2.0			(15.8		)	(4.8		)	0.1		(4.7		)
Dividends declared	(22.9		)	—			(22.9		)	(25.5		)	—		(25.5		)
Exercise of stock options and other incentive plan activity, including tax benefit of $5.8 and $3.5 for the six months ended June 29, 2013 and June 30, 2012, respectively	14.4			—			14.4			18.6			—		18.6
Amortization of restricted stock and stock unit grants, including $0.6 relating to discontinued operations for the six months ended June 30, 2012	25.6			—			25.6			28.9			—		28.9
Restricted stock and restricted stock unit vesting, net of tax withholdings	(20.3		)	—			(20.3		)	(4.3		)	—		(4.3		)
Common stock repurchases	(249.0		)	—			(249.0		)	(75.0		)	—		(75.0		)
Other changes in noncontrolling interests	—			(0.4		)	(0.4		)	—			—		—
Equity, end of period	$	1,998.7		$	12.9		$	2,011.6		$	2,165.2		$	10.1	$	2,175.3