Balance Sheet Accounts (Tables)

3 Months Ended

Mar. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Fair Value of Financial Instruments

The following are measured at fair value:

			Fair value measurement at March 31, 2017
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In millions)
Money market funds	$	128.0	$	128.0	$	—	$	—
			Fair value measurement at December 31, 2016
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In millions)
Money market funds	$	328.5	$	328.5	$	—	$	—

Summary of Cash and Cash Equivalents and Grantor Trust by Investment Type

As of March 31,2017, a summary of cash and cash equivalents and the grantor trust by investment type is as follows:

	Total		Cash and Cash Equivalents		Money Market Funds
	(In millions)
Cash and cash equivalents	$	382.1	$	261.7	$	120.4
Grantor trust (included as a component of other current and noncurrent assets)	7.6		—		7.6
	$	389.7	$	261.7	$	128.0

Schedule of Estimated Fair Value and Principal Amount of Outstanding Debt

The estimated fair value and principal amount for the Company’s outstanding debt is presented below:

	Fair Value				Principal Amount
	March 31, 2017		December 31, 2016		March 31, 2017		December 31, 2016
	(In millions)
Term loan	$	385.0	$	390.0	$	385.0	$	390.0
2 1/4% Notes	324.6		294.9		300.0		300.0
4 1/16% Debentures (1)	—		70.8		—		35.6
	$	709.6	$	755.7	$	685.0	$	725.6

_______

(1) In December 2016, the Company notified holders of its 4 ¹/₁₆% Debentures that the Company would redeem, on February 3, 2017, all of their 4 ¹/₁₆% Debentures at a purchase price equal to 100% of the principal amount of the 4 ¹/₁₆% Debentures to be redeemed, plus any accrued and unpaid interest. In January 2017, $35.6 million of the 4 ¹/₁₆% Debentures (the entire amount outstanding as of December 31, 2016) were converted to 3.9 million shares of common stock.

Schedule of Accounts Receivable

Accounts Receivable

	March 31, 2017			December 31, 2016
	(In millions)
Billed	$	89.9		$	55.7
Unbilled	158.1			124.1
Reserve for overhead rate disallowance	(46.1		)	(44.5		)
Total receivables under long-term contracts	201.9			135.3
Other receivables	0.3			1.1
Accounts receivable	$	202.2		$	136.4

Schedule of Inventories

Inventories

	March 31, 2017			December 31, 2016
	(In millions)
Long-term contracts at average cost	$	575.0		$	551.9
Progress payments	(416.0		)	(368.2		)
Total long-term contract inventories	159.0			183.7
Total other inventories	1.4			1.4
Inventories	$	160.4		$	185.1

Schedule of Other Current Assets, net

Other Current Assets, net

	March 31, 2017		December 31, 2016
	(In millions)
Recoverable from the U.S. government for acquisition related integration costs	$	11.9	$	11.9
Recoverable from the U.S. government for competitive improvement program obligations	8.0		7.6
Prepaid expenses	17.0		16.5
Receivables, net	19.5		17.8
Income taxes receivable	26.8		26.8
Indemnification receivable from UTC, net	5.5		5.5
Other	7.7		5.6
Other current assets, net	$	96.4	$	91.7

Schedule of Property, Plant and Equipment, net

Property, Plant and Equipment, net

	March 31, 2017			December 31, 2016
	(In millions)
Land	$	71.4		$	71.4
Buildings and improvements	306.5			304.2
Machinery and equipment	544.5			540.8
Construction-in-progress	27.2			30.4
	949.6			946.8
Less: accumulated depreciation	(588.2		)	(580.8		)
Property, plant and equipment, net	$	361.4		$	366.0

Schedule of Other Noncurrent Assets, net

Other Noncurrent Assets, net

	March 31, 2017		December 31, 2016
	(In millions)
Recoverable from the U.S. government for conditional asset retirement obligations	$	19.9	$	20.3
Recoverable from the U.S. government for restructuring costs	18.5		12.8
Recoverable from the U.S. government for acquisition related integration costs	7.9		10.9
Recoverable from the U.S. government for competitive improvement program obligations	—		1.3
Deferred financing costs	3.2		3.4
Grantor trusts	17.9		16.6
Income taxes receivable	10.8		10.8
Notes receivable, net	9.0		9.0
Other	4.9		5.1
Other noncurrent assets, net	$	92.1	$	90.2

Schedule of Other Current Liabilities

Other Current Liabilities

	March 31, 2017		December 31, 2016
	(In millions)
Accrued compensation and employee benefits	$	105.7	$	105.7
Income taxes	2.1		2.1
Competitive improvement program obligations (see Note 10)	8.5		7.6
Interest payable	4.7		4.1
Contract loss provisions	5.2		6.8
Other	55.5		41.5
Other current liabilities	$	181.7	$	167.8

Schedule of Other Noncurrent Liabilities

Other Noncurrent Liabilities

	March 31, 2017		December 31, 2016
	(In millions)
Conditional asset retirement obligations	$	30.7	$	30.6
Pension benefits, non-qualified	17.4		17.5
Deferred compensation	21.4		19.8
Deferred revenue	13.1		13.3
Competitive improvement program obligations (see Note 10)	—		1.3
Uncertain income tax positions	29.3		28.4
Other	12.9		13.1
Other noncurrent liabilities	$	124.8	$	124.0

Schedule of Changes in Accumulated Other Comprehensive Loss by Components, Net of Income Taxes

Changes in accumulated other comprehensive loss by components, net of income taxes:

	Actuarial Losses, Net			Prior Service Credits, Net			Total
	(In millions)
December 31, 2016	$	(303.2	)	$	0.2		$	(303.0	)
Amortization of actuarial losses and prior service credits, net of $6.2 million of income taxes	9.8			(0.1		)	9.7
March 31, 2017	$	(293.4	)	$	0.1		$	(293.3	)