Acquisitions, Discontinued Operations and Formation of Shanghai Electric JV (Tables)

12 Months Ended

Dec. 31, 2012

Acquisitions, Discontinued Operations and Formation of Shanghai Electric JV

Summary of the recorded preliminary fair values of the assets acquired and liabilities assumed for Clyde Union

The following is a summary of the recorded fair values of the assets acquired and liabilities assumed for Clyde Union at the date of acquistion, and reflects acquisition accounting adjustments recorded during 2012:

Assets acquired:
Current assets, including cash and equivalents of $44.3	$	354.1
Property, plant and equipment		89.8
Goodwill		377.2
Intangible assets		374.6
Other assets		25.1
Total assets acquired		1,220.8
Liabilities assumed:
Current liabilities		287.0
Other long-term liabilities		165.0
Total liabilities assumed		452.0
Noncontrolling interest		1.8
Net assets acquired	$	767.0

Schedule of unaudited pro forma information

	December 31, Year Ended
	2011		2010
Revenues	$	4,971.1	$	4,502.2
Income from continuing operations attributable to SPX Corporation common shareholders		158.5		195.3
Net income attributable to SPX Corporation common shareholders		188.5		220.1
Income from continuing operations:
Basic	$	3.14	$	3.93
Diluted	$	3.11	$	3.88
Net income attributable to SPX Corporation common shareholders:
Basic	$	3.73	$	4.43
Diluted	$	3.70	$	4.37

Schedule of businesses sold showing quarter discontinued and quarter sold

Business	Quarter Discontinued		Quarter Sale Closed
TPS Tianyu Equipment Co., Ltd. ("Tianyu")		Q4 2012		Q4 2012
Weil-McLain (Shandong) Cast-Iron-Boiler Co., Ltd. ("Weil-McLain Shandong")		Q4 2012		Q4 2012
SPX Service Solutions ("Service Solutions")		Q1 2012		Q4 2012
Cooling Spain Packaging business ("Cooling Spain")		Q4 2010		Q4 2010
P.S.D., Inc. ("PSD")		Q2 2009		Q1 2010

Schedule of income from discontinued operations and related income taxes

	Year ended December 31,
	2012			2011			2010
Income from discontinued operations	$	600.0		$	46.8		$	19.9
Income tax (expense) benefit		(259.6	)		(16.8	)		4.9
Income from discontinued operations, net	$	340.4		$	30.0		$	24.8

Schedule of results of operations of businesses reported as discontinued operations

	Year ended December 31,
	2012		2011		2010
Revenues	$	825.0	$	925.0	$	793.9
Pre-tax income		44.4		49.8		20.6

Schedule of major classes of assets and liabilities, excluding intercompany balances, of businesses reported as discontinued operations

The major classes of assets and liabilities, excluding intercompany balances, of the businesses reported as discontinued operations included in the accompanying December 31, 2011 consolidated balance sheet are shown below:

Assets:
Accounts receivable, net	$	195.1
Inventories		132.4
Other current assets		10.4
Property, plant and equipment, net		49.2
Goodwill and intangibles, net		285.8
Other assets		58.7
Assets of discontinued operations	$	731.6
Liabilities:
Accounts payable	$	111.9
Accrued expenses		114.1
Income taxes payable		1.5
Deferred and other income taxes		6.6
Other liabilities		7.6
Liabilities of discontinued operations	$	241.7