CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 27, 2015	Dec. 31, 2014
Current assets:
Cash and equivalents	$ 328.9	$ 427.6
Accounts receivable, net	1,081.8	1,067.4
Inventories, net	546.7	497.8
Other current assets	171.5	98.5
Deferred income taxes	124.3	123.8
Total current assets	2,253.2	2,215.1
Property, plant and equipment:
Land	54.9	56.4
Buildings and leasehold improvements	353.6	361.8
Machinery and equipment	846.6	825.9
Property, plant and equipment, gross	1,255.1	1,244.1
Accumulated depreciation	(591.3)	(573.2)
Property, plant and equipment, net	663.8	670.9
Goodwill	1,416.1	1,455.4
Intangibles, net	799.2	831.0
Other assets	756.9	729.8
TOTAL ASSETS	5,889.2	5,902.2
Current liabilities:
Accounts payable	461.7	462.0
Accrued expenses	852.1	892.3
Income taxes payable	42.1	43.7
Short-term debt	294.1	181.1
Current maturities of long-term debt	37.5	30.8
Total current liabilities	1,687.5	1,609.9
Long-term debt	1,143.3	1,157.8
Deferred and other income taxes	292.2	294.9
Other long-term liabilities	1,007.1	1,018.5
Total long-term liabilities	$ 2,442.6	$ 2,471.2
Commitments and contingent liabilities (Note 13)
SPX Corporation shareholders' equity:
Common stock (100,199,385 and 41,077,984 issued and outstanding at June 27, 2015, respectively, 100,063,887 and 40,858,006 issued and outstanding at December 31, 2014, respectively)	$ 1.0	$ 1.0
Paid-in capital	2,635.8	2,608.0
Retained earnings	2,638.7	2,637.8
Accumulated other comprehensive income (loss)	(27.2)	62.6
Common stock in treasury (59,121,401 and 59,205,881 shares at June 27, 2015 and December 31, 2014, respectively)	(3,487.0)	(3,491.5)
Total SPX Corporation shareholders' equity	1,761.3	1,817.9
Noncontrolling interests	(2.2)	3.2
Total equity	1,759.1	1,821.1
TOTAL LIABILITIES AND EQUITY	$ 5,889.2	$ 5,902.2

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.