DISCONTINUED OPERATIONS

6 Months Ended

Jun. 27, 2015

DISCONTINUED OPERATIONS.

DISCONTINUED OPERATIONS

(3)DISCONTINUED OPERATIONS

As indicated in Note 2, there were no disposal activities in the first half of 2015. Prior to January 1, 2015, we reported businesses or asset groups as discontinued operations when, among other things, we terminated the operations of the business or asset group, committed to a plan to divest the business or asset group or actively began marketing the business or asset group, and the sale of the business or asset group was deemed probable within the next twelve months.

During the second quarter of 2014, we sold our SPX Precision Components (“Precision Components”) business for cash consideration of $63.0, resulting in a loss, net of tax, of $7.3.

During the first quarter of 2014, we sold our Thermal Products Solutions (“TPS”) business for cash consideration of $38.5 and a promissory note of $4.0, resulting in a gain, net of tax, during the quarter of $21.5. The promissory note was paid in full during the fourth quarter of 2014.

In addition to the Precision Components and TPS businesses, we recognized net losses of $0.5 and $0.9 during the three and six months ended June 27, 2015, respectively, and net gains of $1.2 and $0.7 during the three and six months ended June 28, 2014, respectively, resulting from adjustments to gains/losses on dispositions of businesses discontinued prior to 2014.

For the three and six months ended June 27, 2015 and June 28, 2014, income (loss) from discontinued operations and the related income taxes are shown below:

	Three months ended						Six months ended
	June 27,			June 28,			June 27,			June 28,
	2015			2014			2015			2014
Income (loss) from discontinued operations	$	(2.1	)	$	(5.8	)	$	(2.5	)	$	28.1
Income tax (provision) benefit	1.6			(0.9		)	1.6			(13.7		)
Income (loss) from discontinued operations, net	$	(0.5	)	$	(6.7	)	$	(0.9	)	$	14.4

For the three and six months ended June 27, 2015 and June 28, 2014, results of operations from our businesses reported as discontinued operations were as follows:

	Three months ended					Six months ended
	June 27,		June 28,			June 27,		June 28,
	2015		2014			2015		2014
Revenues	$	—	$	0.6		$	—	$	26.6
Pre-tax loss	—		(0.9		)	—		(0.9		)