Basis of Presentation and Nature of Operations (Tables)

3 Months Ended

Mar. 31, 2016

Accounting Policies [Abstract]

AR1 Inception to Date Project Costs

The AR1 inception to date project costs are summarized as follows:

AR1 R&D costs incurred	$	75.6
Less amounts funded by the U.S. Air Force	(6.9		)
Less amounts funded by ULA	(3.5		)
AR1 R&D costs net of reimbursements	65.2
AR1 R&D costs expensed and not applied to contracts	(32.1		)
Net AR1 R&D costs applied to contracts	$	33.1

Summary of Impact from the Aerospace and Defense Segment Net Sales

The following table summarizes the impact from 96% of the Company’s aerospace and defense segment net sales over the first three months of fiscal 2016 and 2015 and one month ended December 31, 2015, accounted for under the percentage-of-completion method of accounting:

	Three months ended March 31,		Three months ended February 28,		One month ended December 31,
	2016 (1)		2015		2015
			As Restated
	(In millions, except per share amounts)
Favorable effect of the changes in contract estimates on income (loss) from continuing operations before income taxes	$	—	$	1.3	$	11.7
Favorable effect of the changes in contract estimates on net income (loss)	—		0.8		7.0
Favorable effect of the changes in contract estimates on basic net income (loss) per share	—		0.01		0.11
Favorable effect of the changes in contract estimates on diluted net income (loss) per share	—		0.01		0.09

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(1) The impact of all changes in estimates and assumptions related to the status of certain long-term contracts since fiscal year-end 2015 are reflected in the month ended December 31, 2015.