EQUITY AND STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 28, 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		Nine months ended
	September 28,	September 29,	September 28,	September 29,
	2013	2012	2013	2012
Weighted-average number of common shares used in basic income per share	44.709	49.958	45.592	50.174
Dilutive securities — employee stock options, restricted stock shares and restricted stock units	0.328	0.080	0.548	0.625
Weighted-average number of common shares and dilutive securities used in diluted income per share	45.037	50.038	46.140	50.799

Schedule of changes in the components of accumulated other comprehensive loss

The changes in the components of accumulated other comprehensive loss, net of tax, for the three months ended September 28, 2013 were as follows:

	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	$	225.8	$	(4.4	)	$	(3.8	)	$	(505.4	)	$	(287.8	)
Other comprehensive gain (loss) before reclassifications	70.1		0.5			(0.8		)	(3.3		)	66.5
Amounts reclassified from accumulated other comprehensive loss	—		1.8			—			6.5			8.3
Current-period other comprehensive gain (loss)	70.1		2.3			(0.8		)	3.2			74.8
Balance at end of period	$	295.9	$	(2.1	)	$	(4.6	)	$	(502.2	)	$	(213.0	)

(1) Net of tax benefit of $1.9 and $2.9 as of September 28, 2013 and June 29, 2013, respectively.

(2) Net of tax benefit of $307.6 and $310.9 as of September 28, 2013 and June 29, 2013, respectively. Includes $5.0 related to our share of the pension liability adjustment for EGS as of September 28, 2013 and June 29, 2013.

The changes in the components of accumulated other comprehensive loss, net of tax, for the nine months ended September 28, 2013 were as follows:

	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 loss before reclassifications	(2.2		)	(1.1		)	(1.5		)	(1.1		)	(5.9		)
Amounts reclassified from accumulated other comprehensive loss	—			2.3			—			19.5			21.8
Current-period other comprehensive gain (loss)	(2.2		)	1.2			(1.5		)	18.4			15.9
Balance at end of period	$	295.9		$	(2.1	)	$	(4.6	)	$	(502.2	)	$	(213.0	)

(1) Net of tax benefit of $1.9 and $2.5 as of September 28, 2013 and December 31, 2012, respectively.

(2) Net of tax benefit of $307.6 and $318.5 as of September 28, 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 September 28, 2013 and December 31, 2012, respectively.

Schedule of amounts reclassified from each component of accumulated comprehensive loss

	Amount Reclassified from AOCI
	Three months ended			Nine months ended			Affected Line Item in the
	September 28,			September 28,			Condensed Consolidated Statement
	2013			2013			of Operations
Losses on qualifying cash flow hedges:
FX forward contracts	$	2.2		$	3.0		Revenues
Commodity contracts	0.6			0.5			Cost of products sold
Pre-tax	2.8			3.5
Income taxes	(1.0		)	(1.2		)
	$	1.8		$	2.3
Amortization of pension and postretirement items:
Unrecognized losses and prior service credits	$	4.5		$	14.2		Cost of products sold
Unrecognized losses and prior service credits	5.9			16.9			Selling, general and administrative
Pre-tax	10.4			31.1
Income taxes	(3.9		)	(11.6		)
	$	6.5		$	19.5

Schedule of changes in equity

	September 28, 2013									September 29, 2012
	SPX									SPX
	Corporation									Corporation
	Shareholders’			Noncontrolling			Total			Shareholders’			Noncontrolling			Total
	Equity			Interests			Equity			Equity			Interests			Equity
Equity, beginning of period	$	1,998.7		$	12.9		$	2,011.6		$	2,165.2		$	10.1		$	2,175.3
Net income (loss)	62.9			(0.8		)	62.1			57.8			2.4			60.2
Net unrealized gains on qualifying cash flow hedges, net of tax provision of $1.0 and $0.3 for the three months ended September 28, 2013 and September 29, 2012, respectively	2.3			—			2.3			0.5			—			0.5
Net unrealized losses on available-for-sale securities	(0.8		)	—			(0.8		)	(2.9		)	—			(2.9		)
Pension liability adjustment, net of tax provision of $3.3 and $2.5 for the three months ended September 28, 2013 and September 29, 2012, respectively	3.2			—			3.2			3.7			—			3.7
Foreign currency translation adjustments	70.1			0.7			70.8			77.8			0.3			78.1
Total comprehensive income (loss), net	137.7			(0.1		)	137.6			136.9			2.7			139.6
Dividends declared	(11.4		)	—			(11.4		)	(12.7		)	—			(12.7		)
Exercise of stock options and other incentive plan activity, including related tax benefit of $0.1 for the three months ended September 29, 2012	3.7			—			3.7			4.6			—			4.6
Amortization of restricted stock and restricted stock unit grants, including $0.4 relating to discontinued operations for the three months ended September 29, 2012	3.7			—			3.7			6.0			—			6.0
Restricted stock and restricted stock unit vesting, net of tax withholdings	(2.0		)	—			(2.0		)	—			—			—
Dividends attributable to noncontrolling interests	—			—			—			—			(0.7		)	(0.7		)
Other changes in noncontrolling interests	(3.0		)	1.3			(1.7		)	—			—			—
Equity, end of period	$	2,127.4		$	14.1		$	2,141.5		$	2,300.0		$	12.1		$	2,312.1

A summary of the changes in equity for the nine months ended September 28, 2013 and September 29, 2012 is provided below:

	September 28, 2013									September 29, 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	104.0			2.5			106.5			118.7			2.5			121.2
Net unrealized gains on qualifying cash flow hedges, net of tax provision of $0.6 and $0.6 for the nine months ended September 28, 2013 and September 29, 2012, respectively	1.2			—			1.2			1.1			—			1.1
Net unrealized losses on available-for-sale securities	(1.5		)	—			(1.5		)	(1.5		)	—			(1.5		)
Pension liability adjustment, net of tax provision of $10.9 and $7.6 for the nine months ended September 28, 2013 and September 29, 2012, respectively	18.4			—			18.4			13.2			—			13.2
Foreign currency translation adjustments	(2.2		)	(0.6		)	(2.8		)	0.6			0.3			0.9
Total comprehensive income, net	119.9			1.9			121.8			132.1			2.8			134.9
Dividends declared	(34.3		)	—			(34.3		)	(38.2		)	—			(38.2		)
Exercise of stock options and other incentive plan activity, including tax benefit of $5.8 and $3.6 for the the nine months ended September 28, 2013 and September 29, 2012, respectively	18.1			—			18.1			23.2			—			23.2
Amortization of restricted stock and stock unit grants, including $1.0 relating to discontinued operations for the nine months ended September 29, 2012	29.3			—			29.3			34.9			—			34.9
Restricted stock and restricted stock unit vesting, net of tax withholdings	(22.3		)	—			(22.3		)	(4.3		)	—			(4.3		)
Common stock repurchases	(249.0		)	—			(249.0		)	(75.0		)	—			(75.0		)
Dividends attributable to noncontrolling interest	—			—			—			—			(0.7		)	(0.7		)
Other changes in noncontrolling interests	(3.0		)	0.9			(2.1		)	—			—			—
Equity, end of period	$	2,127.4		$	14.1		$	2,141.5		$	2,300.0		$	12.1		$	2,312.1