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Acquisitions, Discontinued Operations and Formation of Shanghai Electric JV (Tables)
 12 Months Ended
Dec. 31, 2013
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

 

 

Assets acquired:

        

Current assets, including cash and equivalents of $44.3

   $ 342.1  

Property, plant and equipment

     88.4  

Goodwill

     373.7  

Intangible assets

     374.6  

Other assets

     25.1  
       
​ ​ ​ ​ ​

Total assets acquired

     1,203.9  
       
​ ​ ​ ​ ​

Liabilities assumed:

        

Current liabilities

     291.9  

Other long-term liabilities

     150.1  
       
​ ​ ​ ​ ​

Total liabilities assumed

     442.0  
       
​ ​ ​ ​ ​

Noncontrolling interest

     (5.1 )
       
​ ​ ​ ​ ​

Net assets acquired

   $ 767.0  
       
​ ​ ​ ​ ​
​ ​ ​ ​ ​
       
Schedule of unaudited pro forma information

 
   Year ended December 31, 2011  

Revenues

   $ 4,707.1  

Income from continuing operations attributable to SPX Corporation common shareholders

     135.6  

Net income attributable to SPX Corporation common shareholders

     179.1  

Income from continuing operations:

        

Basic

   $ 2.69  

Diluted

   $ 2.66  

Net income attributable to SPX Corporation common shareholders:

        

Basic

   $ 3.55  

Diluted

   $ 3.52  
Schedule of businesses sold showing quarter discontinued and quarter sold

 

 

Business
  Quarter
Discontinued		   Quarter of Sale
or Termination
of Operations		  

Broadcast Antenna System business ("Dielectric")

     Q2 2013     Q2 2013  

Crystal Growing business ("Kayex")

     Q1 2013     Q1 2013  

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  
Schedule of income from discontinued operations and related income taxes

 

 

 
   Year ended December 31,  
 
   2013   2012   2011  

Income from discontinued operations

   $ 19.1   $ 631.2   $ 69.4  

Income tax provision

     (7.8 )   (271.4 )   (25.9 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Income from discontinued operations, net

   $ 11.3   $ 359.8   $ 43.5  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               
Schedule of results of operations of businesses reported as discontinued operations

 

 

 
   Year ended December 31,  
 
   2013   2012   2011  

Revenues

   $ 205.0   $ 1,094.2   $ 1,189.0  

Pre-tax income

     22.5     75.6     72.4  
Schedule of major classes of assets and liabilities, excluding intercompany balances, of businesses reported as discontinued operations

 

 

 
   December 31,  
 
   2013   2012  

Assets:

              

Accounts receivable, net

   $ 22.8   $ 21.2  

Inventories, net

     37.6     32.7  

Other current assets

     1.2     1.2  

Property, plant and equipment, net

     16.3     16.2  

Goodwill and intangibles, net

     70.4     71.3  
           
​ ​ ​ ​ ​ ​ ​ ​

Assets of discontinued operations

   $ 148.3   $ 142.6  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

Liabilities:

              

Accounts payable

   $ 13.3   $ 18.3  

Accrued expenses

     18.6     16.6  
           
​ ​ ​ ​ ​ ​ ​ ​

Liabilities of discontinued operations

   $ 31.9   $ 34.9  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​