SHAREHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 28, 2015

SHAREHOLDERS' EQUITY AND STOCK-BASED COMPENSATION

Schedule of weighted-average shares outstanding used in the computation of basic and diluted income (loss) per share

	Three months ended
	March 28,	March 29,
	2015	2014
Weighted-average number of common shares used in basic income (loss) per share	40.503	44.236
Dilutive securities — Restricted stock shares and restricted stock units	—	0.846
Weighted-average number of common shares and dilutive securities used in diluted income (loss) per share	40.503	45.082

Schedule of restricted stock share and restricted stock unit activity

			Weighted-Average
	Unvested Restricted Stock Shares		Grant-Date Fair
	and Restricted Stock Units		Value Per Share
Outstanding at December 31, 2014	1.168		$	69.22
Granted	0.375		85.81
Vested	(0.191	)	80.46
Forfeited	(0.175	)	47.67
Outstanding at March 28, 2015	1.177		75.77

Schedule of assumptions used to determine the fair value of stock options

Annual expected stock price volatility	36.53	%
Annual expected dividend yield	1.75	%
Risk-free interest rate	1.97	%
Expected life of stock option (in years)	6.0

Schedule of changes in the components of accumulated other comprehensive income (loss)

The changes in the components of accumulated other comprehensive income (loss), net of tax, for the three months ended March 28, 2015 were as follows:

	Foreign Currency Translation Adjustment			Net Unrealized Losses on Qualifying Cash Flow Hedges (1)			Pension and Postretirement Liability Adjustment (2)			Total
Balance at beginning of year	$	59.0		$	(1.3	)	$	4.9		$	62.6
Other comprehensive income (loss) before reclassifications	(131.1		)	0.1			—			(131.0		)
Amounts reclassified from accumulated other comprehensive income	—			0.6			(0.2		)	0.4
Current-period other comprehensive income (loss)	(131.1		)	0.7			(0.2		)	(130.6		)
Balance at end of period	$	(72.1	)	$	(0.6	)	$	4.7		$	(68.0	)

(1) Net of tax benefit of $0.5 and $1.1 as of March 28, 2015 and December 31, 2014, respectively.

(2) Net of tax provision of $3.0 as of March 28, 2015 and December 31, 2014, respectively. The balances as of March 28, 2015 and December 31, 2014 include net unamortized prior service credits.

The changes in the components of accumulated other comprehensive income (loss), net of tax, for the three months ended March 29, 2014 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 (2)			Total
Balance at beginning of year	$	296.8		$	(0.8	)	$	(3.7	)	$	(4.8	)	$	287.5
Other comprehensive income (loss) before reclassifications	(2.0		)	(0.8		)	3.8			0.2			1.2
Amounts reclassified from accumulated other comprehensive income	—			0.1			(0.3		)	5.0			4.8
Current-period other comprehensive income (loss)	(2.0		)	(0.7		)	3.5			5.2			6.0
Balance at end of period	$	294.8		$	(1.5	)	$	(0.2	)	$	0.4		$	293.5

(1) Net of tax benefit of $1.2 and $1.0 as of March 29, 2014 and December 31, 2013, respectively.

(2) Net of tax (provision) benefit of $(0.1) and $2.2 as of March 29, 2014 and December 31, 2013, respectively. The balance as of December 31, 2013 primarily included $(5.0), net of tax, related to our share of the pension liability adjustment for EGS as of December 31, 2013. In connection with the sale of our interest in EGS during the first quarter of 2014, as described in Note 1, we recognized our share of the pension liability adjustment for EGS as a component of the gain on sale of our investment interest.

Schedule of amounts reclassified from each component of accumulated comprehensive income (loss)

	Amount Reclassified from AOCI
	Three months ended						Affected Line Items in the Condensed
	March 28, 2015			March 29, 2014			Consolidated Statements of Operations
Losses on qualifying cash flow hedges:
Pre-tax loss on commodity contracts	$	0.7		$	0.1		Cost of products sold
Income taxes	(0.1		)	—
	$	0.6		$	0.1
Gain on available-for-sale securities	$	—		$	0.3		Other income, net
Pension and postretirement items:
Recognition of our share of the pension liability adjustment for EGS	$	—		$	7.4		Other income, net
Amortization of unrecognized prior service credits	(0.2		)	—			Selling, general and administrative
Pre-tax	(0.2		)	7.4
Income taxes	—			(2.4		)
	$	(0.2	)	$	5.0

Schedule of changes in equity

	March 28, 2015									March 29, 2014
	SPX									SPX
	Corporation									Corporation
	Shareholders’			Noncontrolling			Total			Shareholders’			Noncontrolling			Total
	Equity			Interests			Equity			Equity			Interests			Equity
Equity, beginning of year	$	1,817.9		$	3.2		$	1,821.1		$	2,158.0		$	14.0		$	2,172.0
Net income (loss)	(7.1		)	(2.9		)	(10.0		)	318.2			(0.4		)	317.8
Net unrealized gains (losses) on qualifying cash flow hedges, net of tax (provision) benefit of $(0.6) and $0.2 for the three months ended March 28, 2015 and March 29, 2014, respectively	0.7			—			0.7			(0.7		)	—			(0.7		)
Net unrealized gains on available-for-sale securities	—			—			—			3.5			—			3.5
Pension liability adjustment, net of tax provision of $2.3 for the three months ended March 29, 2014	(0.2		)	—			(0.2		)	5.2			—			5.2
Foreign currency translation adjustments	(131.1		)	0.1			(131.0		)	(2.0		)	(0.1		)	(2.1		)
Total comprehensive income (loss), net	(137.7		)	(2.8		)	(140.5		)	324.2			(0.5		)	323.7
Dividends declared	(15.4		)	—			(15.4		)	(16.3		)	—			(16.3		)
Incentive plan activity	4.9			—			4.9			4.8			—			4.8
Stock-based compensation expense	23.6			—			23.6			24.7			—			24.7
Restricted stock and restricted stock unit vesting, net of tax withholdings, and related tax benefit of $0.4 and $8.8 for the three months ended March 28, 2015 and March 29, 2014, respectively	(5.5		)	—			(5.5		)	(11.5		)	—			(11.5		)
Common stock repurchases	—			—			—			(134.3		)	—			(134.3		)
Dividends attributable to noncontrolling interests	—			(0.5		)	(0.5		)	—			—			—
Equity, end of period	$	1,687.8		$	(0.1	)	$	1,687.7		$	2,349.6		$	13.5		$	2,363.1