SPX (SPXC) 10-Q5 May 172017 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Apr. 01, 2017	Apr. 28, 2017
Document and Entity Information
Entity Registrant Name	SPX CORP
Entity Central Index Key	88,205
Document Type	10-Q
Document Period End Date	Apr. 1, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		42,391,819
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Millions		3 Months Ended
		Apr. 01, 2017	Apr. 02, 2016
Income Statement [Abstract]
Revenues	[1]	$ 340.6	$ 360.6
Costs and expenses:
Cost of products sold		252.5	270.7
Selling, general and administrative		69.6	74.3
Intangible amortization		0.2	0.9
Special charges, net		0.5	0.5
Impairment of intangible assets		0	4
Gain on sale of dry cooling business		0	17.9
Operating income		17.8	28.1
Other income (expense), net		(0.7)	1.2
Interest expense		(4)	(3.5)
Interest income		0.4	0.2
Income from continuing operations before income taxes		13.5	26
Income tax provision		(3.2)	(5.8)
Income from continuing operations		10.3	20.2
Loss from discontinued operations, net of tax		0	(5.5)
Gain (loss) on disposition of discontinued operations, net of tax		7.1	(1.1)
Income (loss) from discontinued operations, net of tax		7.1	(6.6)
Net income		17.4	13.6
Less: Net income attributable to noncontrolling interests		0	0.6
Net income		17.4	13
Amounts attributable to SPX Corporation common shareholders:
Income from continuing operations, net of tax		10.3	19.6
Income (loss) from discontinued operations, net of tax		7.1	(6.6)
Net income		$ 17.4	$ 13
Basic income per share of common stock:
Income from continuing operations attributable to SPX Corporation common shareholders (in dollars per share)		$ 0.24	$ 0.47
Income (loss) from discontinued operations attributable to SPX Corporation common shareholders (in dollars per share)		0.17	(0.16)
Net income per share attributable to SPX Corporation common shareholders (in dollars per share)		$ 0.41	$ 0.31
Weighted-average number of common shares outstanding — basic		42,108	41,293
Diluted income per share of common stock:
Income from continuing operations attributable to SPX Corporation common shareholders (in dollars per share)		$ 0.24	$ 0.47
Income (loss) from discontinued operations attributable to SPX Corporation common shareholders (in dollars per share)		0.16	(0.16)
Net income per share attributable to SPX Corporation common shareholders (in dollars per share)		$ 0.40	$ 0.31
Weighted-average number of common shares outstanding — diluted		43,454	41,553
Comprehensive income (loss)		$ 16.4	$ (25.1)

[1]	Under the percentage-of-completion method, we recognized revenues of $78.8 and $104.3 in the three months ended April 1, 2017 and April 2, 2016, respectively. Costs and estimated earnings in excess of billings on uncompleted contracts accounted for under the percentage-of-completion method were $38.1 and $33.9 as of April 1, 2017 and December 31, 2016, respectively, and are reported as a component of ‘‘Accounts receivable, net’’ in the condensed consolidated balance sheets. Billings in excess of costs and estimated earnings on uncompleted contracts accounted for under the percentage-of-completion method were $42.8 and $53.3 as of April 1, 2017 and December 31, 2016, respectively, and are reported as a component of ‘‘Accrued expenses’’ in the condensed consolidated balance sheets.

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Apr. 01, 2017	Dec. 31, 2016
Current assets:
Cash and equivalents		$ 92.7	$ 99.6
Accounts receivable, net		232.7	251.7
Inventories, net		159.2	145.7
Other current assets		26.5	30.6
Total current assets		511.1	527.6
Property, plant and equipment:
Land		15.4	15.4
Buildings and leasehold improvements		118.5	117.3
Machinery and equipment		331.4	329.8
Property, plant and equipment, gross		465.3	462.5
Accumulated depreciation		(271.7)	(267)
Property, plant and equipment, net		193.6	195.5
Goodwill		341.9	340.4
Intangibles, net	[1]	118	117.9
Other assets		671	680.5
Deferred income taxes		62.8	50.6
TOTAL ASSETS		1,898.4	1,912.5
Current liabilities:
Accounts payable		133.1	137.6
Accrued expenses		276.7	304.3
Income taxes payable		6	1.7
Short-term debt		17.1	14.8
Current maturities of long-term debt		18	17.9
Total current liabilities		450.9	476.3
Long-term debt		319.4	323.5
Deferred and other income taxes		43	42.4
Other long-term liabilities		874.1	878.7
Total long-term liabilities		1,236.5	1,244.6
Commitments and contingent liabilities (Note 13)
SPX Corporation shareholders’ equity:
Common stock (50,913,987 and 42,361,989 issued and outstanding at April 1, 2017, respectively, 50,754,779 and 41,940,089 issued and outstanding at December 31, 2016, respectively)		0.5	0.5
Paid-in capital		1,295	1,307.9
Retained deficit		(814.2)	(831.6)
Accumulated other comprehensive income		234.1	235.1
Common stock in treasury (8,551,998 and 8,814,690 shares at April 1, 2017 and December 31, 2016, respectively)		(504.4)	(520.3)
Total equity		211	191.6
TOTAL LIABILITIES AND EQUITY		$ 1,898.4	$ 1,912.5

[1]	Changes in the gross carrying values of “Other Intangibles, Net” during the three months ended April 1, 2017 related to foreign currency translation.

CONDENSED CONSOLIDATED BALANCE4

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Apr. 01, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, shares issued	50,913,987	50,754,779
Common stock, shares outstanding	42,361,989	41,940,089
Common stock in treasury, shares	8,551,998	8,814,690

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Apr. 01, 2017	Apr. 02, 2016	Dec. 31, 2016
Cash flows from (used in) operating activities:
Net income	$ 17.4	$ 13.6
Less: Income (loss) from discontinued operations, net of tax	7.1	(6.6)
Income from continuing operations	10.3	20.2
Adjustments to reconcile income from continuing operations to net cash from (used in) operating activities:
Special charges, net	0.5	0.5
Gain on sale of dry cooling business	0	(17.9)
Impairment of intangible assets	0	4
Deferred and other income taxes	(3.9)	1.3
Depreciation and amortization	6.3	6.7
Pension and other employee benefits	4.2	3.9
Long-term incentive compensation	3.2	2.7
Other, net	1.6	1.8
Changes in operating assets and liabilities, net of effects from divestiture:
Accounts receivable and other assets	33.7	21.4
Inventories	(13.2)	(24.5)
Accounts payable, accrued expenses and other	(36.7)	(70.3)
Cash spending on restructuring actions	(0.6)	(0.4)
Net cash from (used in) continuing operations	5.4	(50.6)
Net cash used in discontinued operations	(3.7)	(11.6)
Net cash from (used in) operating activities	1.7	(62.2)
Cash flows from (used in) investing activities:
Net proceeds from sale of dry cooling business	0	45.9
Capital expenditures	(2.2)	(1.7)
Net cash from (used in) continuing operations	(2.2)	44.2
Net cash used in discontinued operations	0	(0.3)
Net cash from (used in) investing activities	(2.2)	43.9
Cash flows from (used in) financing activities:
Borrowings under senior credit facilities	0	28.9
Repayments under senior credit facilities	(4.3)	(19.2)
Borrowings under trade receivables financing arrangement	0	20
Repayments under trade receivables financing arrangement	0	(20)
Net borrowings under other financing arrangements	1.7	6.4
Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options and other	(2.5)	(1.7)
Net cash from (used in) continuing operations	(5.1)	14.4
Net cash used in discontinued operations	0	0
Net cash from (used in) financing activities	(5.1)	14.4
Change in cash and equivalents due to changes in foreign currency exchange rates	(1.3)	0.4
Net change in cash and equivalents	(6.9)	(3.5)
Consolidated cash and equivalents, beginning of period	99.6	101.4	$ 101.4
Consolidated cash and equivalents, end of period	$ 92.7	$ 97.9	$ 99.6

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Apr. 01, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Unless otherwise indicated, “we,” “us” and “our” mean SPX Corporation and its consolidated subsidiaries (“SPX”). We prepared the condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules and regulations, certain footnotes or other financial information normally required by accounting principles generally accepted in the United States (“GAAP”) can be condensed or omitted. The financial statements represent our accounts after the elimination of intercompany transactions and, in our opinion, include the adjustments (consisting only of normal and recurring items) necessary for their fair presentation. We account for investments in unconsolidated companies where we exercise significant influence but do not have control using the equity method. In determining whether we are the primary beneficiary of a variable interest entity (“VIE”), we perform a qualitative analysis that considers the design of the VIE, the nature of our involvement and the variable interests held by other parties to determine which party has the power to direct the activities of the VIE that most significantly impact the entity’s economic performance, and which party has the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. We have an interest in a VIE, in which we are not the primary beneficiary, as a result of the sale of Balcke Dürr. See below and in Note 15 for further discussion of the sale of Balcke Dürr. All other VIEs are considered immaterial, individually and in aggregate, to our condensed consolidated financial statements. Sale of Dry Cooling Business On March 30, 2016, we completed the sale of our dry cooling business, a business previously within our Engineered Solutions reportable segment, to Paharpur Cooling Towers Limited (“Paharpur”) for cash proceeds of $45.9 (net of cash transferred with the business of $3.0 ), resulting in a gain during the quarter ended April 2, 2016 of $17.9 . The gain includes a reclassification from “Equity” of other comprehensive income totaling $40.4 related to foreign currency translation. During the second quarter of 2016, we reduced the gain by $1.2 in connection with adjustments to certain liabilities retained from the sale. During the third quarter of 2016, we increased the gain by $1.7 in connection with the settlement of the final working capital associated with the business. In connection with the sale, we provided customary indemnifications to Paharpur. Accordingly, it is possible that the sales price and resulting gain for this divestiture may be materially adjusted in subsequent periods. Sale of Balcke Dürr Business On December 30, 2016, we completed the sale of Balcke Dürr to a subsidiary of mutares AG (the “Buyer”) for cash proceeds of less than $0.1 . In addition, we left $21.1 of cash in Balcke Dürr at the time of the sale and provided the Buyer with a non-interest bearing loan of $9.1 , payable in installments due at the end of 2018 and 2019. The results of Balcke Dürr are presented as a discontinued operation within the accompanying condensed consolidated financial statements. In connection with the sale, we recorded a net loss of $78.6 in the fourth quarter of 2016 to “Gain (loss) on disposition of discontinued operations, net of tax.” During the first quarter of 2017, we reduced the net loss associated with the sale of Balcke Dürr by $7.2 . The reduction was comprised of an additional income tax benefit recorded for the sale of $8.4 , partially offset by adjustments to liabilities retained in connection with the sale of $1.2 . The purchase agreement provided that existing parent company guarantees of approximately €79.0 and bank and surety bonds of approximately €79.0 would remain in place through each instrument’s expiration date, with such expiration dates ranging from 2017 to 2022. Balcke Dürr and the Buyer have provided us a full indemnity in the event that any of these guarantees or bonds are called. Also, Balcke Dürr has provided cash collateral of €4.0 and mutares AG has provided a guarantee of €5.0 as a security for the above indemnifications. In connection with the sale, we recorded a liability for the estimated fair value of the guarantees and bonds and an asset for the estimated fair value of the cash collateral and indemnities provided. See Note 15 for further details regarding these estimated fair values. The final sales price for Balcke Dürr is subject to adjustment based on working capital existing at the closing date and is subject to agreement with the Buyer. Final agreement of the working capital amount with the Buyer has yet to occur. Accordingly, it is possible that the sales price and resulting loss for this divestiture may be materially adjusted in subsequent periods. Other Preparing financial statements requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Actual results could differ from these estimates. The unaudited information included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2016. Interim results are not necessarily indicative of full year results. We have reclassified certain prior year amounts, including the results of discontinued operations, to conform to the current year presentation. Unless otherwise indicated, amounts provided in these Notes pertain to continuing operations only. See Note 3 for information on discontinued operations. We establish actual interim closing dates using a fiscal calendar, which requires our businesses to close their books on the Saturday closest to the end of the first calendar quarter, with the second and third quarters being 91 days in length. Our fourth quarter ends on December 31. The interim closing dates for the first, second and third quarters of 2017 are April 1, July 1 and September 30, compared to the respective April 2, July 2 and October 1, 2016 dates. We had two fewer days in the first quarter of 2017 and will have one more day in the fourth quarter of 2017 than in the respective 2016 periods. We do not believe the two fewer days during the first quarter of 2017 had a material impact on our consolidated operating results, when compared to the consolidated operating results for the respective 2016 period.

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	3 Months Ended
NEW ACCOUNTING PRONOUNCEMENTS	Apr. 01, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	NEW ACCOUNTING PRONOUNCEMENTS The following is a summary of new accounting pronouncements that apply or may apply to our business. In May 2014, the FASB issued a new standard on revenue recognition that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The new standard contains a five-step approach that entities will apply to determine the measurement of revenue and timing of when it is recognized, including (i) identifying the contract(s) with a customer, (ii) identifying the separate performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to separate performance obligations, and (v) recognizing revenue when (or as) each performance obligation is satisfied. The new standard requires a number of disclosures intended to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue, and the related cash flows. The disclosures include qualitative and quantitative information about contracts with customers, significant judgments made in applying the revenue guidance, and assets recognized from the costs to obtain or fulfill a contract. The standard is effective for interim and annual reporting periods beginning after December 15, 2017 and we currently plan to adopt the standard using the modified retrospective transition method. The modified retrospective transition approach will recognize any changes from the beginning of the year of initial application through retained earnings with no restatement of comparative periods. We are continuing to assess the potential effect that the standard is expected to have on our consolidated financial statements. We believe the more significant effects on our existing accounting policies will be associated with our power transformer business. Under the new standard, revenue for our power transformers will be recognized over time, which is a change from our current accounting policy of recognizing revenue for power transformers at a point in time. In February 2016, the FASB issued an amendment to existing guidance that requires lessees to recognize assets and liabilities for the rights and obligations created by long-term leases. In addition, this amendment requires new qualitative and quantitative disclosures about leasing arrangements. This standard is effective for annual periods beginning on or after December 15, 2018 for public business entities, and interim periods within those fiscal years. Early adoption is permitted, and adoption must be applied on a modified retrospective basis. We are currently evaluating the effect this new standard will have on our condensed consolidated financial statements. In March 2016, the FASB issued an amendment to existing guidance that simplifies several aspects of the accounting for employee shared-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. This standard is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. We adopted this guidance on January 1, 2017, and, thus, excess income tax benefits recognized on stock-based compensation awards are now being reflected, on a prospective basis, in our condensed consolidated statement of operations as a component of the provision for income taxes (versus the previous requirement to reflect such amounts within “equity”). In accordance with this prospective adoption, we recognized a $1.0 income tax benefit in our condensed consolidated statement of operations for the three months ended April 1, 2017. In addition, we prospectively adopted the amendment to present excess income tax benefits on share-based compensation awards as an operating activity within our condensed consolidated statement of cash flows (versus the previous requirement to reflect such amounts as a financing activity), which resulted in the classification of $1.0 of such income tax benefits within operating activities of the condensed consolidated statement of cash flows for the three months ended April 1, 2017. Cash paid on employees’ behalf related to shares withheld for income taxes payable continues to be classified as a financing activity. Lastly, we elected to continue estimating stock-based compensation award forfeitures in determining the amount of compensation expense to be recognized in each period. In August 2016, the FASB issued an amendment to existing guidance to reduce diversity in practice in how certain cash receipts and cash payments are presented in the statement of cash flows. This amendment provides clarification on eight specific cash flow presentation issues. The issues include, but are not limited to, debt prepayment or extinguishment costs, settlement of zero-coupon debt, proceeds from the settlement of insurance claims, and cash receipts from payments on beneficial interests in securitization transactions. This amendment is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods. Early adoption is permitted. We are currently evaluating the effect this amendment will have on our condensed consolidated financial statements. In January 2017, the FASB issued an amendment to simplify the subsequent measurement of goodwill by removing the second step of the two-step impairment test. The amendment requires that an entity recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. This amendment is effective for annual reporting periods beginning after December 31, 2019, including interim periods within those annual reporting periods. Early adoption is permitted. The impact of this amendment on our consolidated financial statements will depend on the results of future goodwill impairment tests. In March 2017, the FASB issued an amendment to revise the presentation of net periodic pension and postretirement benefit cost. The amendment requires the service cost component to be presented separately from the other components of net periodic pension and postretirement benefit cost. Service cost will be presented with other employee compensation costs within operations. The other components of net periodic pension and postretirement benefit cost, such as interest cost, expected return on plan assets, amortization of prior service cost/credits, and gains or losses, are required to be separately presented outside of operations. This amendment is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual periods. The amendment to the presentation in the income statement of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost shall be applied retrospectively. Early adoption is permitted. See Note 9 for details of our pension and postretirement expense.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	3 Months Ended
DISCONTINUED OPERATIONS	Apr. 01, 2017
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS As indicated in Note 1, the results of Balcke Dürr are presented as a discontinued operation within the accompanying condensed consolidated financial statements for the three months ended April 2, 2016 . Major classes of line items constituting pre-tax loss and after-tax loss of Balcke Dürr for the three months ended April 2, 2016 are shown below: Revenues $ 28.7 Costs and expenses: Costs of products sold 28.8 Selling, general and administrative 7.9 Special charges (credits), net (0.2 ) Loss before taxes (7.8 ) Income tax benefit 2.3 Loss from discontinued operations $ (5.5 ) The following table presents selected financial information for Balcke Dürr that is included within discontinued operations in the condensed consolidated statement of cash flows for the three months ended April 2, 2016 : Non-cash items included in loss from discontinued operations, net of tax Depreciation and amortization $ 0.5 Capital expenditures 0.3 During the three months ended April 1, 2017, we reduced the net loss associated with the sale of Balcke Dürr by $7.2 . The reduction was comprised of an additional income tax benefit recorded for the sale of $8.4 , partially offset by adjustments to liabilities retained in connection with the sale of $1.2 . In addition to the reduction of the net loss related to the Balcke Dürr sale, we recognized net losses of $0.1 and $1.1 during the three months ended April 1, 2017 and April 2, 2016 , respectively, resulting from revisions to liabilities retained from businesses discontinued prior to 2016. For the three months ended April 1, 2017 and April 2, 2016 , the table below presents a reconciliation of discontinued operations activity to the related amounts in the condensed consolidated statements of operations: Three months ended April 1, April 2, Balcke Dürr Loss from discontinued operations $ (2.1 ) $ (7.8 ) Income tax benefit 9.3 2.3 Income (loss) from discontinued operations, net 7.2 (5.5 ) All other Loss from discontinued operations (0.5 ) (1.2 ) Income tax benefit 0.4 0.1 Loss from discontinued operations, net (0.1 ) (1.1 ) Total Loss from discontinued operations (2.6 ) (9.0 ) Income tax benefit 9.7 2.4 Income (loss) from discontinued operations, net $ 7.1 $ (6.6 )

INFORMATION ON REPORTABLE SEGME

INFORMATION ON REPORTABLE SEGMENTS	3 Months Ended
INFORMATION ON REPORTABLE SEGMENTS	Apr. 01, 2017
Segment Reporting [Abstract]
INFORMATION ON REPORTABLE SEGMENTS	INFORMATION ON REPORTABLE SEGMENTS We are a global supplier of highly specialized, engineered solutions with operations in over 15 countries and sales in over 100 countries around the world. We have aggregated our operating segments into the following three reportable segments: HVAC, Detection and Measurement, and Engineered Solutions. The factors considered in determining our aggregated segments are the economic similarity of the businesses, the nature of products sold or services provided, production processes, types of customers, distribution methods, and regulatory environment. In determining our segments, we apply the threshold criteria of the Segment Reporting Topic of the Codification. Operating income or loss for each of our segments is determined before considering impairment and special charges, pension and postretirement expense/income, long-term incentive compensation and other indirect corporate expenses. This is consistent with the way our chief operating decision maker evaluates the results of each segment. HVAC Reportable Segment Our HVAC reportable segment engineers, designs, manufactures, installs and services cooling products for the HVAC and industrial markets, as well as boilers, comfort heating and ventilation products for the residential and commercial markets. The primary distribution channels for the segment’s products are direct to customers, independent manufacturing representatives, third-party distributors, and retailers. The segment serves a customer base in North America, Europe, and Asia Pacific. Detection and Measurement Reportable Segment Our Detection and Measurement reportable segment engineers, designs, manufactures and installs underground pipe and cable locators and inspection equipment, bus fare collection systems, communication technologies, and specialty lighting. The primary distribution channels for the segment’s products are direct to customers and third-party distributors. The segment serves a global customer base, with a strong presence in North America, Europe, and Asia Pacific. Engineered Solutions Reportable Segment Our Engineered Solutions reportable segment engineers, designs, manufactures, installs and services transformers for the power transmission and distribution market and process cooling equipment and stationary heat exchangers for the industrial and power generation markets. The primary distribution channels for the segment’s products are direct to customers and third-party representatives. The segment has a strong presence in North America and South Africa. Corporate Expense Corporate expense generally relates to the cost of our Charlotte, North Carolina corporate headquarters. Financial data for our reportable segments for the three months ended April 1, 2017 and April 2, 2016 are presented below: Three months ended April 1, April 2, Revenues: (1) HVAC segment $ 110.1 $ 111.6 Detection and Measurement segment 53.6 55.4 Engineered Solutions segment 176.9 193.6 Consolidated revenues $ 340.6 $ 360.6 Income: HVAC segment $ 16.5 $ 15.9 Detection and Measurement segment 11.2 11.0 Engineered Solutions segment 6.6 2.9 Total income for segments 34.3 29.8 Corporate expense (11.4 ) (11.4 ) Long-term incentive compensation expense (3.2 ) (2.7 ) Pension and postretirement expense (1.4 ) (1.0 ) Special charges, net (0.5 ) (0.5 ) Impairment of intangible assets — (4.0 ) Gain on sale of dry cooling business — 17.9 Consolidated operating income $ 17.8 $ 28.1 ___________________________ (1) Under the percentage-of-completion method, we recognized revenues of $78.8 and $104.3 in the three months ended April 1, 2017 and April 2, 2016 , respectively. Costs and estimated earnings in excess of billings on uncompleted contracts accounted for under the percentage-of-completion method were $38.1 and $33.9 as of April 1, 2017 and December 31, 2016 , respectively, and are reported as a component of ‘‘Accounts receivable, net’’ in the condensed consolidated balance sheets. Billings in excess of costs and estimated earnings on uncompleted contracts accounted for under the percentage-of-completion method were $42.8 and $53.3 as of April 1, 2017 and December 31, 2016 , respectively, and are reported as a component of ‘‘Accrued expenses’’ in the condensed consolidated balance sheets.

SPECIAL CHARGES, NET

SPECIAL CHARGES, NET	3 Months Ended
SPECIAL CHARGES, NET	Apr. 01, 2017
Restructuring and Related Activities [Abstract]
SPECIAL CHARGES, NET	SPECIAL CHARGES, NET Special charges, net, for the three months ended April 1, 2017 and April 2, 2016 are described in more detail below: Three months ended April 1, April 2, HVAC segment $ 0.1 $ — Detection and Measurement segment 0.3 0.2 Engineered Solutions segment — 0.3 Corporate 0.1 — Total $ 0.5 $ 0.5 HVAC Segment — Charges for the three months ended April 1, 2017 related to severance costs associated with a restructuring action within the segment’s Asia Pacific business. Detection and Measurement Segment — Charges for the three months ended April 1, 2017 related to severance costs associated with a restructuring action at the segment’s communication technologies business, while charges for the three months ended April 2, 2016 related to severance costs associated with a restructuring action at the segment’s bus fare collection systems business. Engineered Solutions Segment — Charges for the three months ended April 2, 2016 related primarily to severance costs associated with a restructuring action at the segment’s SPX Heat Transfer (“Heat Transfer”) business. Corporate — Charges for the three months ended April 1, 2017 related to severance costs incurred in connection with the sale of Balcke Dürr. The following is an analysis of our restructuring liabilities for the three months ended April 1, 2017 and April 2, 2016 : Three months ended April 1, April 2, Balance at beginning of year $ 0.9 $ 1.6 Special charges 0.5 0.5 Utilization — cash (0.6 ) (0.4 ) Balance at end of period $ 0.8 $ 1.7

INVENTORIES, NET

INVENTORIES, NET	3 Months Ended
INVENTORIES, NET	Apr. 01, 2017
Inventory Disclosure [Abstract]
INVENTORIES, NET	INVENTORIES, NET Inventories at April 1, 2017 and December 31, 2016 comprised the following: April 1, December 31, Finished goods $ 47.9 $ 43.0 Work in process 55.4 50.0 Raw materials and purchased parts 68.0 64.9 Total FIFO cost 171.3 157.9 Excess of FIFO cost over LIFO inventory value (12.1 ) (12.2 ) Total inventories, net $ 159.2 $ 145.7 Inventories include material, labor and factory overhead costs and are reduced, when necessary, to estimated net realizable values. Certain inventories are valued using the last-in, first-out (“LIFO”) method. These inventories were approximately 54% and 51% of total inventory at April 1, 2017 and December 31, 2016 , respectively. Other inventories are valued using the first-in, first-out (“FIFO”) method.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS	Apr. 01, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The changes in the carrying amount of goodwill, by reportable segment, were as follows: December 31, Impairments Foreign Currency Translation April 1, HVAC segment Gross goodwill $ 258.5 $ — $ 1.2 $ 259.7 Accumulated impairments (144.2 ) — (0.1 ) (144.3 ) Goodwill 114.3 — 1.1 115.4 Detection and Measurement segment Gross goodwill 214.4 — 0.4 214.8 Accumulated impairments (134.2 ) — (0.3 ) (134.5 ) Goodwill 80.2 — 0.1 80.3 Engineered Solutions segment Gross goodwill 351.4 — 3.0 354.4 Accumulated impairments (205.5 ) — (2.7 ) (208.2 ) Goodwill 145.9 — 0.3 146.2 Total Gross goodwill 824.3 — 4.6 828.9 Accumulated impairments (483.9 ) — (3.1 ) (487.0 ) Goodwill $ 340.4 $ — $ 1.5 $ 341.9 Other Intangibles, Net Identifiable intangible assets at April 1, 2017 and December 31, 2016 comprised the following: April 1, 2017 December 31, 2016 Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Intangible assets with determinable lives: Customer relationships $ 1.4 $ (1.4 ) $ — $ 1.4 $ (1.4 ) $ — Technology 2.1 (0.4 ) 1.7 2.1 (0.4 ) 1.7 Patents 4.5 (4.5 ) — 4.5 (4.5 ) — Other 12.7 (7.6 ) 5.1 12.7 (7.4 ) 5.3 20.7 (13.9 ) 6.8 20.7 (13.7 ) 7.0 Trademarks with indefinite lives 111.2 — 111.2 110.9 — 110.9 Total (1) $ 131.9 $ (13.9 ) $ 118.0 $ 131.6 $ (13.7 ) $ 117.9 ___________________________ (1) Changes in the gross carrying values of “Other Intangibles, Net” during the three months ended April 1, 2017 related to foreign currency translation. At April 1, 2017 , the net carrying value of intangible assets with determinable lives consisted of $4.1 in the HVAC segment and $2.7 in the Engineered Solutions segment. At April 1, 2017 , trademarks with indefinite lives consisted of $89.0 in the HVAC segment, $9.8 in the Detection and Measurement segment and $12.4 in the Engineered Solutions segment. We perform our annual goodwill impairment testing during the fourth quarter in conjunction with our annual financial planning process, with such testing based primarily on events and circumstances existing as of the end of the third quarter. In addition, we test goodwill for impairment on a more frequent basis if there are indications of potential impairment. A significant amount of judgment is involved in determining if an indication of impairment has occurred between annual testing dates. Such indication may include: a significant decline in expected future cash flows; a significant adverse change in legal factors or the business climate; unanticipated competition; and a more likely than not expectation of selling or disposing all, or a portion, of a reporting unit. We perform our annual trademarks impairment testing during the fourth quarter, or on a more frequent basis if there are indications of potential impairment. The fair values of our trademarks are determined by applying estimated royalty rates to projected revenues, with the resulting cash flows discounted at a rate of return that reflects current market conditions (fair value based on unobservable inputs - Level 3, as defined in Note 15). The primary basis for these projected revenues is the annual operating plan for each of the related businesses, which is prepared in the fourth quarter of each year. In the first quarter of 2016, we recorded an impairment charge of $4.0 related to trademarks of our Heat Transfer business. No impairment charges were recorded in the first quarter of 2017.

WARRANTY

WARRANTY	3 Months Ended
WARRANTY	Apr. 01, 2017
Product Warranties Disclosures [Abstract]
WARRANTY	WARRANTY The following is an analysis of our product warranty accrual for the periods presented: Three months ended April 1, April 2, Balance at beginning of year $ 35.8 $ 36.3 Provisions 2.2 2.9 Usage (4.7 ) (4.6 ) Currency translation adjustment 0.2 (0.5 ) Balance at end of period 33.5 34.1 Less: Current portion of warranty 13.9 15.7 Non-current portion of warranty $ 19.6 $ 18.4

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	3 Months Ended
EMPLOYEE BENEFIT PLANS	Apr. 01, 2017
Compensation and Retirement Disclosure [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Net periodic benefit expense (income) for our pension and postretirement plans included the following components: Domestic Pension Plans Three months ended April 1, April 2, Service cost $ 0.1 $ 0.1 Interest cost 3.3 3.6 Expected return on plan assets (2.5 ) (3.2 ) Net periodic pension benefit expense $ 0.9 $ 0.5 Foreign Pension Plans Three months ended April 1, April 2, Service cost $ — $ — Interest cost 1.2 1.4 Expected return on plan assets (1.5 ) (1.7 ) Net periodic pension benefit income (0.3 ) (0.3 ) Postretirement Plans Three months ended April 1, April 2, Service cost $ — $ — Interest cost 1.0 1.0 Amortization of unrecognized prior service credits (0.2 ) (0.2 ) Net periodic postretirement benefit expense $ 0.8 $ 0.8

INDEBTEDNESS

INDEBTEDNESS	3 Months Ended
INDEBTEDNESS	Apr. 01, 2017
Debt Disclosure [Abstract]
INDEBTEDNESS	INDEBTEDNESS The following summarizes our debt activity (both current and non-current) for the three months ended April 1, 2017 : December 31, Borrowings Repayments Other (4) April 1, Revolving loans $ — $ — $ — $ — $ — Term loan (1) 339.6 — (4.3 ) 0.1 335.4 Trade receivables financing arrangement (2) — — — — — Other indebtedness (3) 16.6 6.1 (4.4 ) 0.8 19.1 Total debt 356.2 $ 6.1 $ (8.7 ) $ 0.9 354.5 Less: short-term debt 14.8 17.1 Less: current maturities of long-term debt 17.9 18.0 Total long-term debt $ 323.5 $ 319.4 ___________________________ (1) The term loan is repayable in quarterly installments of 1.25% of the original loan balance of $350.0 . The remaining balance is repayable in full on September 24, 2020. Balances are net of unamortized debt issuance costs of $1.5 and $1.6 at April 1, 2017 and December 31, 2016 , respectively. (2) Under this arrangement, we can borrow, on a continuous basis, up to $50.0 , as available. At April 1, 2017 , we had $39.9 of available borrowing capacity under this facility. (3) Primarily includes balances under a purchase card program of $3.6 and $3.9 , capital lease obligations of $1.9 and $1.7 , and borrowings under lines of credit in South Africa and China totaling $13.0 and $10.2 , at April 1, 2017 and December 31, 2016 , respectively. The purchase card program allows for payment beyond the normal payment terms for goods and services acquired under the program. As this arrangement extends the payment of these purchases beyond their normal payment terms through third-party lending institutions, we have classified these amounts as short-term debt. (4) “Other” primarily includes debt assumed, foreign currency translation on any debt instruments denominated in currencies other than the U.S. dollar, and the impact of amortization of debt issuance costs associated with the term loan. Senior Credit Facilities On March 20, 2017, we entered into an amendment to our senior credit facilities. Among other things, the amendment extended the period during which we may reinvest the net proceeds from the disposition of our dry cooling business. A detailed description of our senior credit facilities is included in our 2016 Annual Report on Form 10-K. At April 1, 2017 , we had $36.1 and $199.7 of outstanding letters of credit issued under our revolving credit and our foreign credit instrument facilities of our senior credit agreement, respectively. The weighted-average interest rate of outstanding borrowings under our senior credit agreement was approximately 2.7% at April 1, 2017 . At April 1, 2017 , we were in compliance with all covenants of our senior credit agreement.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS	Apr. 01, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS Interest Rate Swaps During the second quarter of 2016, we entered into interest rate swap agreements (“Swaps”) to hedge the interest rate risk on our variable rate term loan. These Swaps, which we designate and account for as cash flow hedges, have effective dates beginning in January 2017 and maturities through September 2020 and effectively convert 50% of the borrowing under the variable rate term loan to a fixed rate of 1.2895% plus the applicable margin. These are amortizing Swaps; therefore, the outstanding notional value is scheduled to decline commensurate with the scheduled maturities of the term loan. As of April 1, 2017 , the aggregate notional amounts of the Swaps was $169.1 and the unrealized gain, net of tax, recorded in accumulated other comprehensive income (“AOCI”) was $1.5 . In addition, we have recorded a long-term asset of $2.9 to recognize the fair value of these Swaps. These changes in fair value are reclassified into earnings as a component of interest expense, when the forecasted transaction impacts earnings. Currency Forward Contracts and Currency Forward Embedded Derivatives From time to time, we enter into forward contracts to manage the exposure on contracts with forecasted transactions denominated in non-functional currencies and to manage the risk of transaction gains and losses associated with assets/liabilities denominated in currencies other than the functional currency of certain subsidiaries (“FX forward contracts”). In addition, some of our contracts contain currency forward embedded derivatives (“FX embedded derivatives”), because the currency of exchange is not “clearly and closely” related to the functional currency of either party to the transaction. Certain of our FX forward contracts are designated as cash flow hedges. To the extent these derivatives are effective in offsetting the variability of the hedged cash flows, changes in the derivatives’ fair value are not included in current earnings, but are included in accumulated other comprehensive income (“AOCI”). These changes in fair value are reclassified into earnings as a component of revenues or cost of products sold, as applicable, when the forecasted transaction impacts earnings. In addition, if the forecasted transaction is no longer probable, the cumulative change in the derivatives’ fair value is recorded as a component of “Other income (expense), net” in the period in which the transaction is no longer considered probable of occurring. To the extent a previously designated hedging transaction is no longer an effective hedge, any ineffectiveness measured in the hedging relationship is recorded in earnings in the period in which it occurs. We had FX forward contracts with an aggregate notional amount of $5.4 and $8.8 outstanding as of April 1, 2017 and December 31, 2016 , respectively, with all of the $5.4 scheduled to mature within one year. We also had FX embedded derivatives with an aggregate notional amount of $0.6 and $0.9 at April 1, 2017 and December 31, 2016 , respectively, with all of the $0.6 scheduled to mature within one year. There were no unrealized gains or losses recorded in AOCI related to FX forward contracts as of April 1, 2017 and December 31, 2016 . The fair value of our FX forward contracts and FX embedded derivative instruments were not material in relation to our condensed consolidated balance sheets as of April 1, 2017 and December 31, 2016 . Commodity Contracts From time to time, we enter into commodity contracts to manage the exposure on forecasted purchases of commodity raw materials. At April 1, 2017 and December 31, 2016 , the outstanding notional amount of commodity contracts was 4.0 and 4.1 pounds of copper, respectively. We designate and account for these contracts as cash flow hedges and, to the extent these commodity contracts are effective in offsetting the variability of the forecasted purchases, the change in fair value is included in AOCI. We reclassify AOCI associated with our commodity contracts to cost of products sold when the forecasted transaction impacts earnings. As of April 1, 2017 and December 31, 2016 , the fair value of these contracts was $0.9 (current asset) and $1.1 (current asset), respectively. The unrealized gains, net of tax, recorded in AOCI were $0.7 and $0.8 as of April 1, 2017 and December 31, 2016 , respectively. We anticipate reclassifying the unrealized gains as of April 1, 2017 to income over the next 12 months .

EQUITY AND LONG-TERM INCENTIVE

EQUITY AND LONG-TERM INCENTIVE COMPENSATION	3 Months Ended
EQUITY AND LONG-TERM INCENTIVE COMPENSATION	Apr. 01, 2017
SHAREHOLDERS' EQUITY AND STOCK-BASED COMPENSATION
EQUITY AND LONG-TERM INCENTIVE COMPENSATION	EQUITY AND LONG-TERM INCENTIVE COMPENSATION Income Per Share The following table sets forth the number of weighted-average shares outstanding used in the computation of basic and diluted income per share: Three months ended April 1, April 2, Weighted-average number of common shares used in basic income per share 42.108 41.293 Dilutive securities — Employee stock options, restricted stock shares and restricted stock units 1.346 0.260 Weighted-average number of common shares and dilutive securities used in diluted income per share 43.454 41.553 The weighted-average number of restricted stock shares/units and stock options excluded from the computation of diluted income per share because the assumed proceeds for these instruments exceed the average market value of the underlying common stock for the related period was 0.395 and 0.983 , respectively, for the three months ended April 1, 2017 and 1.169 and 1.085 , respectively, for the three months ended April 2, 2016 . Long-Term Incentive Compensation Long-term incentive compensation awards may be granted to certain eligible employees or non-employee directors. A detailed description of the awards granted prior to 2017 is included in our 2016 Annual Report on Form 10-K. Effective March 1, 2017, we granted long-term incentive awards to our executive officers, certain other members of senior management, and other eligible employees. Awards to executive officers and other members of senior management were comprised of performance stock units (“PSU’s”), stock options, time-based restricted stock units (“RSU’s”), and long-term cash awards, while other eligible employees were granted RSU’s and long-term cash awards. The PSU’s are eligible to vest at the end of a three -year performance period, with performance based on the total return of our stock over the three -year performance period against the S&P 600 Capital Goods Index. Stock options and RSU’s vest ratably over the three -year period subsequent to the date of grant. Long-term cash awards are eligible to vest at the end of a three -year performance measurement period, with performance based on our achieving a target segment income amount over the three -year measurement period. Non-employee directors receive annual long-term incentive awards at the time of our annual meeting of stockholders, with the 2017 meeting scheduled for May 8, 2017. Compensation expense within income from continuing operations related to long-term incentive awards totaled $3.2 and $2.7 for the three months ended April 1, 2017 and April 2, 2016 , respectively. The related tax benefit was $1.2 and $1.0 for the three months ended April 1, 2017 and April 2, 2016 , respectively. PSU’s and RSU’s We use the Monte Carlo simulation model valuation technique to determine fair value of our restricted stock shares and restricted stock units that contain a market condition (i.e., the PSU’s). The Monte Carlo simulation model utilizes multiple input variables that determine the probability of satisfying the market condition stipulated in the award and calculates the fair value of each PSU. The following table summarizes the PSU and RSU activity from December 31, 2016 through April 1, 2017 : Unvested Restricted Stock Shares and Restricted Stock Units Weighted-Average Grant-Date Fair Value Per Share Outstanding at December 31, 2016 1.702 $ 16.47 Granted 0.220 28.40 Vested (0.417 ) 18.61 Forfeited (0.202 ) 21.24 Outstanding at April 1, 2017 1.303 16.96 As of April 1, 2017 , there was $14.8 of unrecognized compensation cost related to PSU’s and RSU’s. We expect this cost to be recognized over a weighted-average period of 1.8 years. Stock Options On March 1, 2017, we granted 0.207 stock options, all of which were outstanding (but not exercisable) as of April 1, 2017 . The exercise price per share of these options is $27.40 and the maximum contractual term of these options is 10 years. The fair value per share of the stock options granted on March 1, 2017 was $9.60 . The fair value of each option grant was estimated using the Black-Scholes option-pricing model with the following assumptions: Annual expected stock price volatility 32.00 % Annual expected dividend yield — % Risk-free interest rate 2.14 % Expected life of stock option (in years) 6.0 Annual expected stock price volatility is based on a weighted average of SPX’s stock volatility since the spin-off of SPX FLOW, Inc. on September 26, 2015, and an average of the most recent six -year historical volatility of a peer company group. There is no annual expected dividend yield as we discontinued dividend payments in 2015 and do not expect to pay dividends for the foreseeable future. The average risk-free interest rate is based on the five -year and seven -year treasury constant maturity rates. The expected option life is based on a three -year pro-rata vesting schedule and represents the period of time that awards are expected to be outstanding. As of April 1, 2017 , there was $4.5 of unrecognized compensation cost related to stock options. We expect this cost to be recognized over a weighted-average period of 1.7 years. Accumulated Other Comprehensive Income The changes in the components of accumulated other comprehensive income, net of tax, for the three months ended April 1, 2017 were as follows: Foreign Currency Translation Adjustment Net Unrealized Gains on Qualifying Cash Flow Hedges (1) Pension and Postretirement Liability Adjustment (2) Total Balance at beginning of period $ 229.7 $ 1.5 $ 3.9 $ 235.1 Other comprehensive income (loss) before reclassifications (1.5 ) 1.1 — (0.4 ) Amounts reclassified from accumulated other comprehensive income — (0.4 ) (0.2 ) (0.6 ) Current-period other comprehensive income (loss) (1.5 ) 0.7 (0.2 ) (1.0 ) Balance at end of period $ 228.2 $ 2.2 $ 3.7 $ 234.1 __________________________ (1) Net of tax provision of $1.3 and $0.9 as of April 1, 2017 and December 31, 2016 , respectively. (2) Net of tax provision of $2.7 as of April 1, 2017 and December 31, 2016 . The balances as of April 1, 2017 and December 31, 2016 represent net unamortized prior service credits. The changes in the components of accumulated other comprehensive income, net of tax, for the three months ended April 2, 2016 were as follows: Foreign Currency Translation Adjustment Net Unrealized Losses on Qualifying Cash Flow Hedges (2) Pension and Postretirement Liability Adjustment (3) Total Balance at beginning of period $ 280.6 $ (1.8 ) $ 4.5 $ 283.3 Other comprehensive income (loss) before reclassifications 1.7 (0.2 ) — 1.5 Amounts reclassified from accumulated other comprehensive income (1) (40.4 ) 1.4 (0.2 ) (39.2 ) Current-period other comprehensive income (loss) (38.7 ) 1.2 (0.2 ) (37.7 ) Balance at end of period $ 241.9 $ (0.6 ) $ 4.3 $ 245.6 ___________________________ (1) In connection with the sale of our dry cooling business, we reclassified $40.4 of other comprehensive income related to foreign currency translation to “Gain on sale of dry cooling business.” (2) Net of tax benefit of $0.4 and $0.8 as of April 2, 2016 and December 31, 2015 , respectively. (3) Net of tax provision of $3.1 as of April 2, 2016 and December 31, 2015 . The balances as of April 2, 2016 and December 31, 2015 represent net unamortized prior service credits. The following summarizes amounts reclassified from each component of accumulated comprehensive income for the three months ended April 1, 2017 and April 2, 2016 : Amount Reclassified from AOCI Three months ended April 1, 2017 April 2, 2016 Affected Line Item in the Condensed Consolidated Statements of Operations (Gains) losses on qualifying cash flow hedges: FX forward contracts $ — $ 1.0 Revenues Commodity contracts (0.7 ) 0.7 Cost of products sold Swaps 0.1 — Interest expense Pre-tax (0.6 ) 1.7 Income taxes 0.2 (0.3 ) $ (0.4 ) $ 1.4 Gains on pension and postretirement items: Amortization of unrecognized prior service credits - Pre-tax $ (0.2 ) $ (0.2 ) Selling, general and administrative Income taxes — — $ (0.2 ) $ (0.2 ) Gain on sale of dry cooling business: Recognition of foreign currency translation adjustment associated with the sale of our dry cooling business $ — $ (40.4 ) Gain on sale of dry cooling business Common Stock in Treasury During the three months ended April 1, 2017 and April 2, 2016 , “Common stock in treasury” was decreased by the settlement of restricted stock units issued from treasury stock of $15.9 and $17.8 , respectively. Changes in Equity A summary of the changes in equity for the three months ended April 1, 2017 and April 2, 2016 is provided below: April 1, 2017 April 2, 2016 SPX Corporation Shareholders’ Equity Noncontrolling Interests Total Equity SPX Corporation Shareholders’ Equity Noncontrolling Interests Total Equity Equity, beginning of period $ 191.6 $ — $ 191.6 $ 345.4 $ (37.1 ) $ 308.3 Net income 17.4 — 17.4 13.0 0.6 13.6 Net unrealized gains on qualifying cash flow hedges, net of tax provision of $0.4 for the three months ended April 1, 2017 and April 2, 2016 0.7 — 0.7 1.2 — 1.2 Pension and postretirement liability adjustment, net of tax benefit of $0.0 for the three months ended April 1, 2017 and April 2, 2016 (0.2 ) — (0.2 ) (0.2 ) — (0.2 ) Foreign currency translation adjustments (1.5 ) — (1.5 ) (38.7 ) (1.0 ) (39.7 ) Total comprehensive income (loss), net 16.4 — 16.4 (24.7 ) (0.4 ) (25.1 ) Incentive plan activity 3.8 — 3.8 2.7 — 2.7 Long-term incentive compensation expense 2.8 — 2.8 2.7 — 2.7 Restricted stock and restricted stock unit vesting, net of tax withholdings, and related tax benefit of $0.0 for the three months ended April 1, 2017 and April 2, 2016 (3.6 ) — (3.6 ) (3.3 ) — (3.3 ) Equity, end of period $ 211.0 $ — $ 211.0 $ 322.8 $ (37.5 ) $ 285.3

CONTINGENT LIABILITIES AND OTHE

CONTINGENT LIABILITIES AND OTHER MATTERS	3 Months Ended
CONTINGENT LIABILITIES AND OTHER MATTERS	Apr. 01, 2017
Commitments and Contingencies Disclosure [Abstract]
CONTINGENT LIABILITIES AND OTHER MATTERS	CONTINGENT LIABILITIES AND OTHER MATTERS General Numerous claims, complaints and proceedings arising in the ordinary course of business have been asserted or are pending against us or certain of our subsidiaries (collectively, “claims”). These claims relate to litigation matters (e.g., class actions and contracts, intellectual property, and competitive claims), environmental matters, product liability matters (predominately associated with alleged exposure to asbestos-containing materials), and other risk management matters (e.g., general liability, automobile, and workers’ compensation claims). Additionally, we may become subject to other claims of which we are currently unaware, which may be significant, or the claims of which we are aware may result in our incurring significantly greater loss than we anticipate. While we (and our subsidiaries) maintain property, cargo, auto, product, general liability, environmental, and directors’ and officers’ liability insurance and have acquired rights under similar policies in connection with acquisitions that we believe cover a significant portion of these claims, this insurance may be insufficient or unavailable (e.g., in the case of insurer insolvency) to protect us against potential loss exposures. Also, while we believe we are entitled to indemnification from third parties for some of these claims, these rights may be insufficient or unavailable to protect us against potential loss exposures. Our recorded liabilities related to these matters totaled $651.7 (including $604.1 for asbestos product liability matters) and $653.5 (including $605.6 for asbestos product liability matters) at April 1, 2017 and December 31, 2016 , respectively. Of these amounts, $617.6 and $621.0 are included in “Other long-term liabilities” within our condensed consolidated balance sheets at April 1, 2017 and December 31, 2016 , respectively, with the remainder included in “Accrued expenses.” The liabilities we record for these claims are based on a number of assumptions, including historical claims and payment experience and, with respect to asbestos claims, actuarial estimates of the future period during which additional claims are reasonably foreseeable. While we base our assumptions on facts currently known to us, they entail inherently subjective judgments and uncertainties. As a result, our current assumptions for estimating these liabilities may not prove accurate, and we may be required to adjust these liabilities in the future, which could result in charges to earnings. These variances relative to current expectations could have a material impact on our financial position and results of operations. Our asbestos-related claims are typical in certain of the industries in which we operate or pertain to legacy businesses we no longer operate. It is not unusual in these cases for fifty or more corporate entities to be named as defendants. We vigorously defend these claims, many of which are dismissed without payment, and the significant majority of costs related to these claims have historically been paid pursuant to our insurance arrangements. During the three months ended April 1, 2017, our insurance recoveries for asbestos-related matters, net of payments, were $9.0 , which included cash proceeds received during the period of $8.5 related to a settlement reached with an insurance carrier. During the three months ended April 2, 2016 , our payments for asbestos-related matters, net of insurance recoveries, were $1.3 . A significant increase in claims, costs and/or issues with existing insurance coverage (e.g., dispute with or insolvency of insurer(s)) could have a material adverse impact on our share of future payments related to these matters, and, as such, have a material impact on our financial position, results of operations and cash flows. We have recorded insurance recovery assets associated with the asbestos product liability matters, with such amounts totaling $554.0 and $ 564.4 at April 1, 2017 and December 31, 2016 , respectively, and included in “Other assets” within our condensed consolidated balance sheets. These assets represent amounts that we believe we are or will be entitled to recover under agreements we have with insurance companies. The assets we record for these insurance recoveries are based on a number of assumptions, including the continued solvency of the insurers, and are subject to a variety of uncertainties. Our current assumptions for estimating these assets may not prove accurate, and we may be required to adjust these assets in the future, which could result in additional charges to earnings. These variances relative to current expectations could have a material impact on our financial position and results of operations. During the three months ended April 1, 2017 and April 2, 2016 , there were no changes in estimates associated with the liabilities and assets related to our asbestos product liability matters. Large Power Projects in South Africa The business environment surrounding our large power projects in South Africa remains difficult, as we have experienced delays, cost over-runs, and various other challenges associated with a complex set of contractual relationships among the end customer, prime contractors, various subcontractors (including us and our subcontractors), and various suppliers. We currently are involved in a number of claim disputes relating to these challenges. We are pursuing various commercial alternatives for addressing these challenges, in attempt to mitigate our overall financial exposure. We recognize revenue associated with unapproved change orders and claims to the extent the related costs have been incurred and the amount expected of recovery is probable and reasonably estimable. At April 1, 2017 , the projected revenues related to our large power projects in South Africa included approximately $27.5 related to claims and unapproved change orders. We believe these amounts are recoverable under the provisions of the related contracts and reflect our best estimate of recoverable amounts. Although we believe that our current estimates of revenues, costs and profits relating to these projects are reasonable, it is possible that future revisions of such estimates could have a material effect on our condensed consolidated financial statements. Noncontrolling Interest in South African Subsidiary Our South African subsidiary, DBT Technologies (PTY) LTD (“DBT”), has a Black Economic Empowerment shareholder (the “BEE Partner”) that holds a 25.1% noncontrolling interest in DBT. Under the terms of the shareholder agreement between the BEE Partner and SPX Technologies (PTY) LTD (“SPX Technologies”), the BEE Partner had the option to put its ownership interest in DBT to SPX Technologies, the majority shareholder of DBT, at a redemption amount determined in accordance with the terms of the shareholder agreement (the “Put Option”). The BEE Partner notified SPX Technologies of its intention to exercise the Put Option and, on July 6, 2016, an Arbitration Tribunal declared that the BEE Partner was entitled to South African Rand 287.3 in connection with the exercise of the Put Option, having not considered an amount due from the BEE Partner under a promissory note of South African Rand 30.3 held by SPX Technologies. As a result, we have reflected the net redemption amount of South African Rand 257.0 (or $19.7 ) within “Accrued expenses” on our condensed consolidated balance sheet as of April 1, 2017 , with the related offset recorded to “Paid-in capital” and “Accumulated other comprehensive income.” In addition, we reclassified $38.7 from “Noncontrolling Interests” to “Paid-in capital.” Lastly, under the two-class method of calculating earnings per share, we reflected an adjustment of $18.1 to “Net income (loss) attributable to SPX Corporation common shareholders” for the excess redemption amount of the Put Option (i.e., the increase in the redemption amount during the second quarter of 2016 in excess of fair value) in our calculations of basic and diluted earnings per share for the second quarter of 2016. SPX Technologies disagrees with the arbitration determination and will continue to pursue all available legal recourse in this matter. Patent Infringement Lawsuit Our subsidiary, SPX Cooling Technologies, Inc. (“SPXCT”), is a defendant in a legal action brought by Baltimore Aircoil Company (“BAC”) alleging that a SPXCT product infringes United States Patent No. 7,107,782, entitled “Evaporative Heat Exchanger and Method.” BAC filed suit on July 16, 2013 in the United States District Court for the District of Maryland (the “District Court”) seeking monetary damages and injunctive relief. On November 4, 2016, the jury for the trial in the District Court found in favor of SPXCT. The verdict by the District Court is subject to further judicial processes, including a possible appeal by BAC. We believe that we will ultimately be successful in any future judicial processes; however, to the extent we are not successful, the outcome could have a material adverse effect on our financial position, results of operations, and cash flows. Litigation Matters We are subject to other legal matters that arise in the normal course of business. We believe these matters are either without merit or of a kind that should not have a material effect, individually or in the aggregate, on our financial position, results of operations or cash flows; however, we cannot assure you that these proceedings or claims will not have a material effect on our financial position, results of operations or cash flows. Environmental Matters Our operations and properties are subject to federal, state, local and foreign regulatory requirements relating to environmental protection. It is our policy to comply fully with all applicable requirements. As part of our effort to comply, we have a comprehensive environmental compliance program that includes environmental audits conducted by internal and external independent professionals, as well as regular communications with our operating units regarding environmental compliance requirements and anticipated regulations. Based on current information, we believe that our operations are in substantial compliance with applicable environmental laws and regulations, and we are not aware of any violations that could have a material effect, individually or in the aggregate, on our business, financial condition, and results of operations or cash flows. As of April 1, 2017 , we had liabilities for site investigation and/or remediation at 28 sites ( 30 sites at December 31, 2016) that we own or control. In addition, while we believe that we maintain adequate accruals to cover the costs of site investigation and/or remediation, we cannot provide assurance that new matters, developments, laws and regulations, or stricter interpretations of existing laws and regulations will not materially affect our business or operations in the future. Our environmental accruals cover anticipated costs, including investigation, remediation, and operation and maintenance of clean-up sites. Our estimates are based primarily on investigations and remediation plans established by independent consultants, regulatory agencies and potentially responsible third parties. Accordingly, our estimates may change based on future developments, including new or changes in existing environmental laws or policies, differences in costs required to complete anticipated actions from estimates provided, future findings of investigation or remediation actions, or alteration to the expected remediation plans. It is our policy to revise an estimate once the revision becomes probable and the amount of change can be reasonably estimated. We generally do not discount our environmental accruals and do not reduce them by anticipated insurance recoveries. We take into account third-party indemnification from financially viable parties in determining our accruals where there is no dispute regarding the right to indemnification. In the case of contamination at offsite, third-party disposal sites, as of April 1, 2017 , we have been notified that we are potentially responsible and have received other notices of potential liability pursuant to various environmental laws at 22 sites at which the liability has not been settled, of which 8 sites have been active in the past few years. These laws may impose liability on certain persons that are considered jointly and severally liable for the costs of investigation and remediation of hazardous substances present at these sites, regardless of fault or legality of the original disposal. These persons include the present or former owners or operators of the site and companies that generated, disposed of or arranged for the disposal of hazardous substances at the site. We are considered a “de minimis” potentially responsible party at most of the sites, and we estimate that our aggregate liability, if any, related to these sites is not material to our condensed consolidated financial statements. We conduct extensive environmental due diligence with respect to potential acquisitions, including environmental site assessments and such further testing as we may deem warranted. If an environmental matter is identified, we estimate the cost and either establish a liability, purchase insurance or obtain an indemnity from a financially sound seller; however, in connection with our acquisitions or dispositions, we may assume or retain significant environmental liabilities, some of which we may be unaware. The potential costs related to these environmental matters and the possible impact on future operations are uncertain due in part to the complexity of government laws and regulations and their interpretations, the varying costs and effectiveness of various clean-up technologies, the uncertain level of insurance or other types of recovery, and the questionable level of our responsibility. We record a liability when it is both probable and the amount can be reasonably estimated. In our opinion, after considering accruals established for such purposes, the cost of remedial actions for compliance with the present laws and regulations governing the protection of the environment are not expected to have a material impact, individually or in the aggregate, on our financial position, results of operations or cash flows. Self-insured Risk Management Matters We are self-insured for certain of our workers’ compensation, automobile, product and general liability, disability and health costs, and we believe that we maintain adequate accruals to cover our retained liability. Our accruals for risk management matters are determined by us, are based on claims filed and estimates of claims incurred but not yet reported, and generally are not discounted. We consider a number of factors, including third-party actuarial valuations, when making these determinations. We maintain third-party stop-loss insurance policies to cover certain liability costs in excess of predetermined retained amounts. The insurance may be insufficient or unavailable (e.g., because of insurer insolvency) to protect us against loss exposure.

INCOME TAXES

INCOME TAXES	3 Months Ended
INCOME TAXES	Apr. 01, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Uncertain Tax Benefits As of April 1, 2017 , we had gross unrecognized tax benefits of $38.0 (net unrecognized tax benefits of $25.3 ). Of these net unrecognized tax benefits, $20.4 would impact our effective tax rate from continuing operations if recognized. We classify interest and penalties related to unrecognized tax benefits as a component of our income tax provision. As of April 1, 2017 , gross accrued interest totaled $4.1 (net accrued interest of $2.6 ). As of April 1, 2017 , we had no accrual for penalties included in our unrecognized tax benefits. Based on the outcome of certain examinations or as a result of the expiration of statutes of limitations for certain jurisdictions, we believe that within the next 12 months it is reasonably possible that our previously unrecognized tax benefits could decrease by approximately $6.0 to $10.0 . The previously unrecognized tax benefits relate to a variety of tax matters relating to deemed income inclusions, transfer pricing and various state matters. Other Tax Matters For the three months ended April 1, 2017 , we recorded an income tax provision of $3.2 on $13.5 of pre-tax income from continuing operations, resulting in an effective rate of 23.7% . This compares to an income tax provision for the three months ended April 2, 2016 of $5.8 on $26.0 of pre-tax income from continuing operations, resulting in an effective rate of 22.3% . The most significant items impacting the income tax provision for the first quarter of 2017 were (i) $1.0 of excess tax benefits resulting from stock-based compensation awards which vested in the quarter (see Note 2 for additional details) and (ii) $5.0 of foreign losses generated during the period for which no tax benefit was recognized, as future realization of any such tax benefit is considered unlikely. The most significant items impacting the effective tax rate for the first quarter of 2016 were (i) $0.7 of taxes that were provided in connection with the $17.9 gain that was recorded during the quarter on the sale of our dry cooling business and (ii) $4.7 of foreign losses generated during the period for which no tax benefit was recognized, as future realization of any such tax benefit is considered unlikely. We perform reviews of our income tax positions on a continuous basis and accrue for potential uncertain positions when we determine that an uncertain position meets the criteria of the Income Taxes Topic of the Codification. Accruals for these uncertain tax positions are recorded in “Income taxes payable” and “Deferred and other income taxes” in the accompanying condensed consolidated balance sheets based on the expectation as to the timing of when the matters will be resolved. As events change and resolutions occur, these accruals are adjusted, such as in the case of audit settlements with taxing authorities. We have filed our federal income tax returns for the 2013, 2014 and 2015 tax years and those returns are subject to examination. With regard to all open tax years, we believe any contingencies are adequately provided for. State income tax returns generally are subject to examination for a period of three to five years after filing the respective tax returns. The impact on such tax returns of any federal changes remains subject to examination by various states for a period of up to one year after formal notification to the states. We have various state income tax returns in the process of examination. We believe any uncertain tax positions related to these examinations have been adequately provided for. We have various foreign income tax returns under examination. The most significant of these are in Germany for the 2010 through 2014 tax years. We believe that any uncertain tax positions related to these examinations have been adequately provided for. An unfavorable resolution of one or more of the above matters could have a material adverse effect on our results of operations or cash flows in the quarter and year in which an adjustment is recorded or the tax is due or paid. As audits and examinations are still in process, the timing of the ultimate resolution and any payments that may be required for the above matters cannot be determined at this time.

FAIR VALUE

FAIR VALUE	3 Months Ended
FAIR VALUE	Apr. 01, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In the absence of active markets for the identical assets or liabilities, such measurements involve developing assumptions based on market observable data and, in the absence of such data, internal information consistent with what market participants would use in a hypothetical transaction that occurs at the measurement date. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. Preference is given to observable inputs. These two types of inputs create the following fair value hierarchy: • Level 1 — Quoted prices for identical instruments in active markets. • Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. • Level 3 — Significant inputs to the valuation model are unobservable. There were no changes during the periods presented to the valuation techniques we use to measure asset and liability fair values on a recurring or nonrecurring basis. Valuation Methodologies Used to Measure Fair Value on a Non-Recurring Basis Parent Guarantees and Bonds Associated with Balcke Dürr — As indicated in Note 1, in connection with the sale of Balcke Dürr, parent company guarantees of approximately €79.0 and bank and surety bonds of approximately €79.0 existing at the time of the sale will remain in place through each instrument’s expiration date, with such expiration dates ranging from 2017 to 2022. These guarantees and bonds provide protections for Balcke Dürr customers in regard to advance payments, performance, and warranties on projects in existence at the time of sale. In addition, certain bonds relate to lease obligations and foreign tax matters in existence at the time of sale. Balcke Dürr and the Buyer have provided us a full indemnity in the event that any of these guarantees or bonds are called. Also, Balcke Dürr has provided cash collateral of €4.0 and mutares AG has provided a guarantee of €5.0 as a security for the above indemnifications. Summarized below are the liability (related to the parent company guarantees and bank and surety bonds) and asset (related to the cash collateral and guarantee provided by mutares AG) recorded at the time of sale, along with the change in the liability and the asset during the three months ended April 1, 2017. Guarantees and Bonds Liability Indemnification Assets Balance as of December 31, 2016 (1) (2) $ 9.9 $ 4.8 Reduction/Amortization for the period (3) (0.5 ) (0.6 ) Impact of changes in foreign currency rates 0.3 0.2 Balance as of April 1, 2017 (2) $ 9.7 $ 4.4 ___________________________ (1) In connection with the sale, we estimated the fair value of the existing parent company guarantees and bank and surety bonds considering the probability of default by Balcke Dürr and an estimate of the amount we would be obligated to pay in the event of a default. Additionally, we estimated the fair value of the cash collateral provided by Balcke Dürr and guarantee provided by mutares AG based on the terms and conditions and relative risk associated with each of these securities (unobservable inputs - Level 3). (2) Balance associated with the guarantees and bonds is reflected within “Other long-term liabilities,” while the balance associated with the indemnification assets is reflected within “Other assets.” (3) We reduce the liability generally at the earlier of the completion of the related underlying project milestones or the expiration of the guarantees or bonds. We amortize the asset based on the expiration terms of each of the securities. We record the reduction of the liability and the amortization of the asset to “Other income (expense), net.” As of April 1, 2017, the outstanding parent company guarantees and bank and surety bonds totaled €79.0 and €71.0 , respectively. In addition, the cash collateral of €4.0 and the guarantee provided by mutares AG of €5.0 continue to serve as security for the indemnifications noted above. Goodwill, Indefinite-Lived Intangible and Other Long-Lived Assets — Certain of our non-financial assets are subject to impairment analysis, including long-lived assets, indefinite-lived intangible assets and goodwill. We review the carrying amounts of such assets whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable or at least annually for indefinite-lived intangible assets and goodwill. Any resulting asset impairment would require that the instrument be recorded at its fair value. Valuation Methodologies Used to Measure Fair Value on a Recurring Basis Derivative Financial Instruments — Our financial derivative assets and liabilities include interest rate swaps, FX forward contracts, FX embedded derivatives and commodity contracts, valued using valuation models based on observable market inputs such as forward rates, interest rates, our own credit risk and the credit risk of our counterparties, which comprise investment-grade financial institutions. Based on these inputs, the derivative assets and liabilities are classified within Level 2 of the valuation hierarchy. We have not made any adjustments to the inputs obtained from the independent sources. Based on our continued ability to enter into forward contracts, we consider the markets for our fair value instruments active. We primarily use the income approach, which uses valuation techniques to convert future amounts to a single present amount. As of April 1, 2017 , there has been no significant impact to the fair value of our derivative liabilities due to our own credit risk, as the related instruments are collateralized under our senior credit facilities. Similarly, there has been no significant impact to the fair value of our derivative assets based on our evaluation of our counterparties’ credit risks. Indebtedness and Other — The estimated fair value of our debt instruments as of April 1, 2017 and December 31, 2016 approximated the related carrying values due primarily to the variable market-based interest rates for such instruments. See Note 10 for further details.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
BASIS OF PRESENTATION (Policies)	Apr. 01, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	We prepared the condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules and regulations, certain footnotes or other financial information normally required by accounting principles generally accepted in the United States (“GAAP”) can be condensed or omitted. The financial statements represent our accounts after the elimination of intercompany transactions and, in our opinion, include the adjustments (consisting only of normal and recurring items) necessary for their fair presentation.
Variable Interest Entity	We account for investments in unconsolidated companies where we exercise significant influence but do not have control using the equity method. In determining whether we are the primary beneficiary of a variable interest entity (“VIE”), we perform a qualitative analysis that considers the design of the VIE, the nature of our involvement and the variable interests held by other parties to determine which party has the power to direct the activities of the VIE that most significantly impact the entity’s economic performance, and which party has the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. We have an interest in a VIE, in which we are not the primary beneficiary, as a result of the sale of Balcke Dürr. See below and in Note 15 for further discussion of the sale of Balcke Dürr. All other VIEs are considered immaterial, individually and in aggregate, to our condensed consolidated financial statements.
Sale of Dry Cooling Business and Balcke Durr Business	Sale of Dry Cooling Business On March 30, 2016, we completed the sale of our dry cooling business, a business previously within our Engineered Solutions reportable segment, to Paharpur Cooling Towers Limited (“Paharpur”) for cash proceeds of $45.9 (net of cash transferred with the business of $3.0 ), resulting in a gain during the quarter ended April 2, 2016 of $17.9 . The gain includes a reclassification from “Equity” of other comprehensive income totaling $40.4 related to foreign currency translation. During the second quarter of 2016, we reduced the gain by $1.2 in connection with adjustments to certain liabilities retained from the sale. During the third quarter of 2016, we increased the gain by $1.7 in connection with the settlement of the final working capital associated with the business. In connection with the sale, we provided customary indemnifications to Paharpur. Accordingly, it is possible that the sales price and resulting gain for this divestiture may be materially adjusted in subsequent periods. Sale of Balcke Dürr Business On December 30, 2016, we completed the sale of Balcke Dürr to a subsidiary of mutares AG (the “Buyer”) for cash proceeds of less than $0.1 . In addition, we left $21.1 of cash in Balcke Dürr at the time of the sale and provided the Buyer with a non-interest bearing loan of $9.1 , payable in installments due at the end of 2018 and 2019. The results of Balcke Dürr are presented as a discontinued operation within the accompanying condensed consolidated financial statements. In connection with the sale, we recorded a net loss of $78.6 in the fourth quarter of 2016 to “Gain (loss) on disposition of discontinued operations, net of tax.” During the first quarter of 2017, we reduced the net loss associated with the sale of Balcke Dürr by $7.2 . The reduction was comprised of an additional income tax benefit recorded for the sale of $8.4 , partially offset by adjustments to liabilities retained in connection with the sale of $1.2 . The purchase agreement provided that existing parent company guarantees of approximately €79.0 and bank and surety bonds of approximately €79.0 would remain in place through each instrument’s expiration date, with such expiration dates ranging from 2017 to 2022. Balcke Dürr and the Buyer have provided us a full indemnity in the event that any of these guarantees or bonds are called. Also, Balcke Dürr has provided cash collateral of €4.0 and mutares AG has provided a guarantee of €5.0 as a security for the above indemnifications. In connection with the sale, we recorded a liability for the estimated fair value of the guarantees and bonds and an asset for the estimated fair value of the cash collateral and indemnities provided. See Note 15 for further details regarding these estimated fair values. The final sales price for Balcke Dürr is subject to adjustment based on working capital existing at the closing date and is subject to agreement with the Buyer. Final agreement of the working capital amount with the Buyer has yet to occur. Accordingly, it is possible that the sales price and resulting loss for this divestiture may be materially adjusted in subsequent periods.
Use of Estimates	Preparing financial statements requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Actual results could differ from these estimates. The unaudited information included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements contained in our Annual Report on Form 10-K for the year ended December 31, 2016. Interim results are not necessarily indicative of full year results. We have reclassified certain prior year amounts, including the results of discontinued operations, to conform to the current year presentation. Unless otherwise indicated, amounts provided in these Notes pertain to continuing operations only. See Note 3 for information on discontinued operations.
Fiscal Period	We establish actual interim closing dates using a fiscal calendar, which requires our businesses to close their books on the Saturday closest to the end of the first calendar quarter, with the second and third quarters being 91 days in length. Our fourth quarter ends on December 31. The interim closing dates for the first, second and third quarters of 2017 are April 1, July 1 and September 30, compared to the respective April 2, July 2 and October 1, 2016 dates. We had two fewer days in the first quarter of 2017 and will have one more day in the fourth quarter of 2017 than in the respective 2016 periods. We do not believe the two fewer days during the first quarter of 2017 had a material impact on our consolidated operating results, when compared to the consolidated operating results for the respective 2016 period.
New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS The following is a summary of new accounting pronouncements that apply or may apply to our business. In May 2014, the FASB issued a new standard on revenue recognition that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The new standard contains a five-step approach that entities will apply to determine the measurement of revenue and timing of when it is recognized, including (i) identifying the contract(s) with a customer, (ii) identifying the separate performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to separate performance obligations, and (v) recognizing revenue when (or as) each performance obligation is satisfied. The new standard requires a number of disclosures intended to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue, and the related cash flows. The disclosures include qualitative and quantitative information about contracts with customers, significant judgments made in applying the revenue guidance, and assets recognized from the costs to obtain or fulfill a contract. The standard is effective for interim and annual reporting periods beginning after December 15, 2017 and we currently plan to adopt the standard using the modified retrospective transition method. The modified retrospective transition approach will recognize any changes from the beginning of the year of initial application through retained earnings with no restatement of comparative periods. We are continuing to assess the potential effect that the standard is expected to have on our consolidated financial statements. We believe the more significant effects on our existing accounting policies will be associated with our power transformer business. Under the new standard, revenue for our power transformers will be recognized over time, which is a change from our current accounting policy of recognizing revenue for power transformers at a point in time. In February 2016, the FASB issued an amendment to existing guidance that requires lessees to recognize assets and liabilities for the rights and obligations created by long-term leases. In addition, this amendment requires new qualitative and quantitative disclosures about leasing arrangements. This standard is effective for annual periods beginning on or after December 15, 2018 for public business entities, and interim periods within those fiscal years. Early adoption is permitted, and adoption must be applied on a modified retrospective basis. We are currently evaluating the effect this new standard will have on our condensed consolidated financial statements. In March 2016, the FASB issued an amendment to existing guidance that simplifies several aspects of the accounting for employee shared-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. This standard is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. We adopted this guidance on January 1, 2017, and, thus, excess income tax benefits recognized on stock-based compensation awards are now being reflected, on a prospective basis, in our condensed consolidated statement of operations as a component of the provision for income taxes (versus the previous requirement to reflect such amounts within “equity”). In accordance with this prospective adoption, we recognized a $1.0 income tax benefit in our condensed consolidated statement of operations for the three months ended April 1, 2017. In addition, we prospectively adopted the amendment to present excess income tax benefits on share-based compensation awards as an operating activity within our condensed consolidated statement of cash flows (versus the previous requirement to reflect such amounts as a financing activity), which resulted in the classification of $1.0 of such income tax benefits within operating activities of the condensed consolidated statement of cash flows for the three months ended April 1, 2017. Cash paid on employees’ behalf related to shares withheld for income taxes payable continues to be classified as a financing activity. Lastly, we elected to continue estimating stock-based compensation award forfeitures in determining the amount of compensation expense to be recognized in each period. In August 2016, the FASB issued an amendment to existing guidance to reduce diversity in practice in how certain cash receipts and cash payments are presented in the statement of cash flows. This amendment provides clarification on eight specific cash flow presentation issues. The issues include, but are not limited to, debt prepayment or extinguishment costs, settlement of zero-coupon debt, proceeds from the settlement of insurance claims, and cash receipts from payments on beneficial interests in securitization transactions. This amendment is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods. Early adoption is permitted. We are currently evaluating the effect this amendment will have on our condensed consolidated financial statements. In January 2017, the FASB issued an amendment to simplify the subsequent measurement of goodwill by removing the second step of the two-step impairment test. The amendment requires that an entity recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. This amendment is effective for annual reporting periods beginning after December 31, 2019, including interim periods within those annual reporting periods. Early adoption is permitted. The impact of this amendment on our consolidated financial statements will depend on the results of future goodwill impairment tests. In March 2017, the FASB issued an amendment to revise the presentation of net periodic pension and postretirement benefit cost. The amendment requires the service cost component to be presented separately from the other components of net periodic pension and postretirement benefit cost. Service cost will be presented with other employee compensation costs within operations. The other components of net periodic pension and postretirement benefit cost, such as interest cost, expected return on plan assets, amortization of prior service cost/credits, and gains or losses, are required to be separately presented outside of operations. This amendment is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual periods. The amendment to the presentation in the income statement of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost shall be applied retrospectively. Early adoption is permitted. See Note 9 for details of our pension and postretirement expense.
Inventories, net	Inventories include material, labor and factory overhead costs and are reduced, when necessary, to estimated net realizable values. Certain inventories are valued using the last-in, first-out (“LIFO”) method. These inventories were approximately 54% and 51% of total inventory at April 1, 2017 and December 31, 2016 , respectively. Other inventories are valued using the first-in, first-out (“FIFO”) method.
Goodwill and Other Intangible Assets	We perform our annual goodwill impairment testing during the fourth quarter in conjunction with our annual financial planning process, with such testing based primarily on events and circumstances existing as of the end of the third quarter. In addition, we test goodwill for impairment on a more frequent basis if there are indications of potential impairment. A significant amount of judgment is involved in determining if an indication of impairment has occurred between annual testing dates. Such indication may include: a significant decline in expected future cash flows; a significant adverse change in legal factors or the business climate; unanticipated competition; and a more likely than not expectation of selling or disposing all, or a portion, of a reporting unit. We perform our annual trademarks impairment testing during the fourth quarter, or on a more frequent basis if there are indications of potential impairment. The fair values of our trademarks are determined by applying estimated royalty rates to projected revenues, with the resulting cash flows discounted at a rate of return that reflects current market conditions (fair value based on unobservable inputs - Level 3, as defined in Note 15). The primary basis for these projected revenues is the annual operating plan for each of the related businesses, which is prepared in the fourth quarter of each year.
Currency Forward Contracts and Currency Forward Embedded Derivatives	Currency Forward Contracts and Currency Forward Embedded Derivatives From time to time, we enter into forward contracts to manage the exposure on contracts with forecasted transactions denominated in non-functional currencies and to manage the risk of transaction gains and losses associated with assets/liabilities denominated in currencies other than the functional currency of certain subsidiaries (“FX forward contracts”). In addition, some of our contracts contain currency forward embedded derivatives (“FX embedded derivatives”), because the currency of exchange is not “clearly and closely” related to the functional currency of either party to the transaction. Certain of our FX forward contracts are designated as cash flow hedges. To the extent these derivatives are effective in offsetting the variability of the hedged cash flows, changes in the derivatives’ fair value are not included in current earnings, but are included in accumulated other comprehensive income (“AOCI”). These changes in fair value are reclassified into earnings as a component of revenues or cost of products sold, as applicable, when the forecasted transaction impacts earnings. In addition, if the forecasted transaction is no longer probable, the cumulative change in the derivatives’ fair value is recorded as a component of “Other income (expense), net” in the period in which the transaction is no longer considered probable of occurring. To the extent a previously designated hedging transaction is no longer an effective hedge, any ineffectiveness measured in the hedging relationship is recorded in earnings in the period in which it occurs.
Potential Uncertain Positions	We perform reviews of our income tax positions on a continuous basis and accrue for potential uncertain positions when we determine that an uncertain position meets the criteria of the Income Taxes Topic of the Codification. Accruals for these uncertain tax positions are recorded in “Income taxes payable” and “Deferred and other income taxes” in the accompanying condensed consolidated balance sheets based on the expectation as to the timing of when the matters will be resolved. As events change and resolutions occur, these accruals are adjusted, such as in the case of audit settlements with taxing authorities. We have filed our federal income tax returns for the 2013, 2014 and 2015 tax years and those returns are subject to examination. With regard to all open tax years, we believe any contingencies are adequately provided for. State income tax returns generally are subject to examination for a period of three to five years after filing the respective tax returns. The impact on such tax returns of any federal changes remains subject to examination by various states for a period of up to one year after formal notification to the states. We have various state income tax returns in the process of examination. We believe any uncertain tax positions related to these examinations have been adequately provided for. We have various foreign income tax returns under examination. The most significant of these are in Germany for the 2010 through 2014 tax years. We believe that any uncertain tax positions related to these examinations have been adequately provided for. An unfavorable resolution of one or more of the above matters could have a material adverse effect on our results of operations or cash flows in the quarter and year in which an adjustment is recorded or the tax is due or paid. As audits and examinations are still in process, the timing of the ultimate resolution and any payments that may be required for the above matters cannot be determined at this time.
Fair Value	Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In the absence of active markets for the identical assets or liabilities, such measurements involve developing assumptions based on market observable data and, in the absence of such data, internal information consistent with what market participants would use in a hypothetical transaction that occurs at the measurement date. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. Preference is given to observable inputs. These two types of inputs create the following fair value hierarchy: • Level 1 — Quoted prices for identical instruments in active markets. • Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. • Level 3 — Significant inputs to the valuation model are unobservable. There were no changes during the periods presented to the valuation techniques we use to measure asset and liability fair values on a recurring or nonrecurring basis. Goodwill, Indefinite-Lived Intangible and Other Long-Lived Assets — Certain of our non-financial assets are subject to impairment analysis, including long-lived assets, indefinite-lived intangible assets and goodwill. We review the carrying amounts of such assets whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable or at least annually for indefinite-lived intangible assets and goodwill. Any resulting asset impairment would require that the instrument be recorded at its fair value. Valuation Methodologies Used to Measure Fair Value on a Recurring Basis Derivative Financial Instruments — Our financial derivative assets and liabilities include interest rate swaps, FX forward contracts, FX embedded derivatives and commodity contracts, valued using valuation models based on observable market inputs such as forward rates, interest rates, our own credit risk and the credit risk of our counterparties, which comprise investment-grade financial institutions. Based on these inputs, the derivative assets and liabilities are classified within Level 2 of the valuation hierarchy. We have not made any adjustments to the inputs obtained from the independent sources. Based on our continued ability to enter into forward contracts, we consider the markets for our fair value instruments active. We primarily use the income approach, which uses valuation techniques to convert future amounts to a single present amount. As of April 1, 2017 , there has been no significant impact to the fair value of our derivative liabilities due to our own credit risk, as the related instruments are collateralized under our senior credit facilities. Similarly, there has been no significant impact to the fair value of our derivative assets based on our evaluation of our counterparties’ credit risks.

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	3 Months Ended
DISCONTINUED OPERATIONS (Tables)	Apr. 01, 2017
Discontinued Operations
Schedule of disposal groups, including discontinued operations, income statement, balance sheet and additional disclosures	For the three months ended April 1, 2017 and April 2, 2016 , the table below presents a reconciliation of discontinued operations activity to the related amounts in the condensed consolidated statements of operations: Three months ended April 1, April 2, Balcke Dürr Loss from discontinued operations $ (2.1 ) $ (7.8 ) Income tax benefit 9.3 2.3 Income (loss) from discontinued operations, net 7.2 (5.5 ) All other Loss from discontinued operations (0.5 ) (1.2 ) Income tax benefit 0.4 0.1 Loss from discontinued operations, net (0.1 ) (1.1 ) Total Loss from discontinued operations (2.6 ) (9.0 ) Income tax benefit 9.7 2.4 Income (loss) from discontinued operations, net $ 7.1 $ (6.6 )
Balcke Durr Business
Discontinued Operations
Schedule of disposal groups, including discontinued operations, income statement, balance sheet and additional disclosures	Major classes of line items constituting pre-tax loss and after-tax loss of Balcke Dürr for the three months ended April 2, 2016 are shown below: Revenues $ 28.7 Costs and expenses: Costs of products sold 28.8 Selling, general and administrative 7.9 Special charges (credits), net (0.2 ) Loss before taxes (7.8 ) Income tax benefit 2.3 Loss from discontinued operations $ (5.5 ) The following table presents selected financial information for Balcke Dürr that is included within discontinued operations in the condensed consolidated statement of cash flows for the three months ended April 2, 2016 : Non-cash items included in loss from discontinued operations, net of tax Depreciation and amortization $ 0.5 Capital expenditures 0.3

INFORMATION ON REPORTABLE SEG23

INFORMATION ON REPORTABLE SEGMENTS (Tables)	3 Months Ended
INFORMATION ON REPORTABLE SEGMENTS (Tables)	Apr. 01, 2017
Segment Reporting [Abstract]
Schedule of financial data for reportable segments and other operating segments	Financial data for our reportable segments for the three months ended April 1, 2017 and April 2, 2016 are presented below: Three months ended April 1, April 2, Revenues: (1) HVAC segment $ 110.1 $ 111.6 Detection and Measurement segment 53.6 55.4 Engineered Solutions segment 176.9 193.6 Consolidated revenues $ 340.6 $ 360.6 Income: HVAC segment $ 16.5 $ 15.9 Detection and Measurement segment 11.2 11.0 Engineered Solutions segment 6.6 2.9 Total income for segments 34.3 29.8 Corporate expense (11.4 ) (11.4 ) Long-term incentive compensation expense (3.2 ) (2.7 ) Pension and postretirement expense (1.4 ) (1.0 ) Special charges, net (0.5 ) (0.5 ) Impairment of intangible assets — (4.0 ) Gain on sale of dry cooling business — 17.9 Consolidated operating income $ 17.8 $ 28.1 ___________________________ (1) Under the percentage-of-completion method, we recognized revenues of $78.8 and $104.3 in the three months ended April 1, 2017 and April 2, 2016 , respectively. Costs and estimated earnings in excess of billings on uncompleted contracts accounted for under the percentage-of-completion method were $38.1 and $33.9 as of April 1, 2017 and December 31, 2016 , respectively, and are reported as a component of ‘‘Accounts receivable, net’’ in the condensed consolidated balance sheets. Billings in excess of costs and estimated earnings on uncompleted contracts accounted for under the percentage-of-completion method were $42.8 and $53.3 as of April 1, 2017 and December 31, 2016 , respectively, and are reported as a component of ‘‘Accrued expenses’’ in the condensed consolidated balance sheets.

SPECIAL CHARGES, NET (Tables)

SPECIAL CHARGES, NET (Tables)	3 Months Ended
SPECIAL CHARGES, NET (Tables)	Apr. 01, 2017
Restructuring and Related Activities [Abstract]
Schedule of special charges, net	Special charges, net, for the three months ended April 1, 2017 and April 2, 2016 are described in more detail below: Three months ended April 1, April 2, HVAC segment $ 0.1 $ — Detection and Measurement segment 0.3 0.2 Engineered Solutions segment — 0.3 Corporate 0.1 — Total $ 0.5 $ 0.5
Schedule of the analysis of the entity's restructuring liabilities	The following is an analysis of our restructuring liabilities for the three months ended April 1, 2017 and April 2, 2016 : Three months ended April 1, April 2, Balance at beginning of year $ 0.9 $ 1.6 Special charges 0.5 0.5 Utilization — cash (0.6 ) (0.4 ) Balance at end of period $ 0.8 $ 1.7

INVENTORIES, NET (Tables)

INVENTORIES, NET (Tables)	3 Months Ended
INVENTORIES, NET (Tables)	Apr. 01, 2017
Inventory Disclosure [Abstract]
Schedule of inventories	Inventories at April 1, 2017 and December 31, 2016 comprised the following: April 1, December 31, Finished goods $ 47.9 $ 43.0 Work in process 55.4 50.0 Raw materials and purchased parts 68.0 64.9 Total FIFO cost 171.3 157.9 Excess of FIFO cost over LIFO inventory value (12.1 ) (12.2 ) Total inventories, net $ 159.2 $ 145.7

GOODWILL AND OTHER INTANGIBLE26

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	Apr. 01, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill, by reportable segment and other operating segments	The changes in the carrying amount of goodwill, by reportable segment, were as follows: December 31, Impairments Foreign Currency Translation April 1, HVAC segment Gross goodwill $ 258.5 $ — $ 1.2 $ 259.7 Accumulated impairments (144.2 ) — (0.1 ) (144.3 ) Goodwill 114.3 — 1.1 115.4 Detection and Measurement segment Gross goodwill 214.4 — 0.4 214.8 Accumulated impairments (134.2 ) — (0.3 ) (134.5 ) Goodwill 80.2 — 0.1 80.3 Engineered Solutions segment Gross goodwill 351.4 — 3.0 354.4 Accumulated impairments (205.5 ) — (2.7 ) (208.2 ) Goodwill 145.9 — 0.3 146.2 Total Gross goodwill 824.3 — 4.6 828.9 Accumulated impairments (483.9 ) — (3.1 ) (487.0 ) Goodwill $ 340.4 $ — $ 1.5 $ 341.9
Schedule of identifiable intangible assets	Identifiable intangible assets at April 1, 2017 and December 31, 2016 comprised the following: April 1, 2017 December 31, 2016 Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Intangible assets with determinable lives: Customer relationships $ 1.4 $ (1.4 ) $ — $ 1.4 $ (1.4 ) $ — Technology 2.1 (0.4 ) 1.7 2.1 (0.4 ) 1.7 Patents 4.5 (4.5 ) — 4.5 (4.5 ) — Other 12.7 (7.6 ) 5.1 12.7 (7.4 ) 5.3 20.7 (13.9 ) 6.8 20.7 (13.7 ) 7.0 Trademarks with indefinite lives 111.2 — 111.2 110.9 — 110.9 Total (1) $ 131.9 $ (13.9 ) $ 118.0 $ 131.6 $ (13.7 ) $ 117.9 ___________________________ (1) Changes in the gross carrying values of “Other Intangibles, Net” during the three months ended April 1, 2017 related to foreign currency translation.

WARRANTY (Tables)

WARRANTY (Tables)	3 Months Ended
WARRANTY (Tables)	Apr. 01, 2017
Product Warranties Disclosures [Abstract]
Schedule of product warranty accrual	The following is an analysis of our product warranty accrual for the periods presented: Three months ended April 1, April 2, Balance at beginning of year $ 35.8 $ 36.3 Provisions 2.2 2.9 Usage (4.7 ) (4.6 ) Currency translation adjustment 0.2 (0.5 ) Balance at end of period 33.5 34.1 Less: Current portion of warranty 13.9 15.7 Non-current portion of warranty $ 19.6 $ 18.4

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	3 Months Ended
EMPLOYEE BENEFIT PLANS (Tables)	Apr. 01, 2017
Domestic Pension Plans
Employee Benefit Plans
Schedule of net periodic benefit (income) expense	Net periodic benefit expense (income) for our pension and postretirement plans included the following components: Domestic Pension Plans Three months ended April 1, April 2, Service cost $ 0.1 $ 0.1 Interest cost 3.3 3.6 Expected return on plan assets (2.5 ) (3.2 ) Net periodic pension benefit expense $ 0.9 $ 0.5
Foreign Pension Plans
Employee Benefit Plans
Schedule of net periodic benefit (income) expense	Foreign Pension Plans Three months ended April 1, April 2, Service cost $ — $ — Interest cost 1.2 1.4 Expected return on plan assets (1.5 ) (1.7 ) Net periodic pension benefit income (0.3 ) (0.3 )
Postretirement Plans
Employee Benefit Plans
Schedule of net periodic benefit (income) expense	Postretirement Plans Three months ended April 1, April 2, Service cost $ — $ — Interest cost 1.0 1.0 Amortization of unrecognized prior service credits (0.2 ) (0.2 ) Net periodic postretirement benefit expense $ 0.8 $ 0.8

INDEBTEDNESS (Tables)

INDEBTEDNESS (Tables)	3 Months Ended
INDEBTEDNESS (Tables)	Apr. 01, 2017
Debt Disclosure [Abstract]
Schedule of debt activity (both current and non-current)	The following summarizes our debt activity (both current and non-current) for the three months ended April 1, 2017 : December 31, Borrowings Repayments Other (4) April 1, Revolving loans $ — $ — $ — $ — $ — Term loan (1) 339.6 — (4.3 ) 0.1 335.4 Trade receivables financing arrangement (2) — — — — — Other indebtedness (3) 16.6 6.1 (4.4 ) 0.8 19.1 Total debt 356.2 $ 6.1 $ (8.7 ) $ 0.9 354.5 Less: short-term debt 14.8 17.1 Less: current maturities of long-term debt 17.9 18.0 Total long-term debt $ 323.5 $ 319.4 ___________________________ (1) The term loan is repayable in quarterly installments of 1.25% of the original loan balance of $350.0 . The remaining balance is repayable in full on September 24, 2020. Balances are net of unamortized debt issuance costs of $1.5 and $1.6 at April 1, 2017 and December 31, 2016 , respectively. (2) Under this arrangement, we can borrow, on a continuous basis, up to $50.0 , as available. At April 1, 2017 , we had $39.9 of available borrowing capacity under this facility. (3) Primarily includes balances under a purchase card program of $3.6 and $3.9 , capital lease obligations of $1.9 and $1.7 , and borrowings under lines of credit in South Africa and China totaling $13.0 and $10.2 , at April 1, 2017 and December 31, 2016 , respectively. The purchase card program allows for payment beyond the normal payment terms for goods and services acquired under the program. As this arrangement extends the payment of these purchases beyond their normal payment terms through third-party lending institutions, we have classified these amounts as short-term debt. (4) “Other” primarily includes debt assumed, foreign currency translation on any debt instruments denominated in currencies other than the U.S. dollar, and the impact of amortization of debt issuance costs associated with the term loan.

EQUITY AND LONG-TERM INCENTIV30

EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Tables)	3 Months Ended
EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Tables)	Apr. 01, 2017
SHAREHOLDERS' EQUITY AND STOCK-BASED COMPENSATION
Schedule of weighted-average shares outstanding used in the computation of basic and diluted income per share	The following table sets forth the number of weighted-average shares outstanding used in the computation of basic and diluted income per share: Three months ended April 1, April 2, Weighted-average number of common shares used in basic income per share 42.108 41.293 Dilutive securities — Employee stock options, restricted stock shares and restricted stock units 1.346 0.260 Weighted-average number of common shares and dilutive securities used in diluted income per share 43.454 41.553
Schedule of PSU and RSU activity	The following table summarizes the PSU and RSU activity from December 31, 2016 through April 1, 2017 : Unvested Restricted Stock Shares and Restricted Stock Units Weighted-Average Grant-Date Fair Value Per Share Outstanding at December 31, 2016 1.702 $ 16.47 Granted 0.220 28.40 Vested (0.417 ) 18.61 Forfeited (0.202 ) 21.24 Outstanding at April 1, 2017 1.303 16.96
Schedule of fair value of each option grant	The fair value of each option grant was estimated using the Black-Scholes option-pricing model with the following assumptions: Annual expected stock price volatility 32.00 % Annual expected dividend yield — % Risk-free interest rate 2.14 % Expected life of stock option (in years) 6.0
Schedule of changes in the components of accumulated other comprehensive income (loss)	The changes in the components of accumulated other comprehensive income, net of tax, for the three months ended April 1, 2017 were as follows: Foreign Currency Translation Adjustment Net Unrealized Gains on Qualifying Cash Flow Hedges (1) Pension and Postretirement Liability Adjustment (2) Total Balance at beginning of period $ 229.7 $ 1.5 $ 3.9 $ 235.1 Other comprehensive income (loss) before reclassifications (1.5 ) 1.1 — (0.4 ) Amounts reclassified from accumulated other comprehensive income — (0.4 ) (0.2 ) (0.6 ) Current-period other comprehensive income (loss) (1.5 ) 0.7 (0.2 ) (1.0 ) Balance at end of period $ 228.2 $ 2.2 $ 3.7 $ 234.1 __________________________ (1) Net of tax provision of $1.3 and $0.9 as of April 1, 2017 and December 31, 2016 , respectively. (2) Net of tax provision of $2.7 as of April 1, 2017 and December 31, 2016 . The balances as of April 1, 2017 and December 31, 2016 represent net unamortized prior service credits. The changes in the components of accumulated other comprehensive income, net of tax, for the three months ended April 2, 2016 were as follows: Foreign Currency Translation Adjustment Net Unrealized Losses on Qualifying Cash Flow Hedges (2) Pension and Postretirement Liability Adjustment (3) Total Balance at beginning of period $ 280.6 $ (1.8 ) $ 4.5 $ 283.3 Other comprehensive income (loss) before reclassifications 1.7 (0.2 ) — 1.5 Amounts reclassified from accumulated other comprehensive income (1) (40.4 ) 1.4 (0.2 ) (39.2 ) Current-period other comprehensive income (loss) (38.7 ) 1.2 (0.2 ) (37.7 ) Balance at end of period $ 241.9 $ (0.6 ) $ 4.3 $ 245.6 ___________________________ (1) In connection with the sale of our dry cooling business, we reclassified $40.4 of other comprehensive income related to foreign currency translation to “Gain on sale of dry cooling business.” (2) Net of tax benefit of $0.4 and $0.8 as of April 2, 2016 and December 31, 2015 , respectively. (3) Net of tax provision of $3.1 as of April 2, 2016 and December 31, 2015 . The balances as of April 2, 2016 and December 31, 2015 represent net unamortized prior service credits.
Schedule of amounts reclassified from each component of accumulated comprehensive income (loss)	The following summarizes amounts reclassified from each component of accumulated comprehensive income for the three months ended April 1, 2017 and April 2, 2016 : Amount Reclassified from AOCI Three months ended April 1, 2017 April 2, 2016 Affected Line Item in the Condensed Consolidated Statements of Operations (Gains) losses on qualifying cash flow hedges: FX forward contracts $ — $ 1.0 Revenues Commodity contracts (0.7 ) 0.7 Cost of products sold Swaps 0.1 — Interest expense Pre-tax (0.6 ) 1.7 Income taxes 0.2 (0.3 ) $ (0.4 ) $ 1.4 Gains on pension and postretirement items: Amortization of unrecognized prior service credits - Pre-tax $ (0.2 ) $ (0.2 ) Selling, general and administrative Income taxes — — $ (0.2 ) $ (0.2 ) Gain on sale of dry cooling business: Recognition of foreign currency translation adjustment associated with the sale of our dry cooling business $ — $ (40.4 ) Gain on sale of dry cooling business
Schedule of changes in equity	A summary of the changes in equity for the three months ended April 1, 2017 and April 2, 2016 is provided below: April 1, 2017 April 2, 2016 SPX Corporation Shareholders’ Equity Noncontrolling Interests Total Equity SPX Corporation Shareholders’ Equity Noncontrolling Interests Total Equity Equity, beginning of period $ 191.6 $ — $ 191.6 $ 345.4 $ (37.1 ) $ 308.3 Net income 17.4 — 17.4 13.0 0.6 13.6 Net unrealized gains on qualifying cash flow hedges, net of tax provision of $0.4 for the three months ended April 1, 2017 and April 2, 2016 0.7 — 0.7 1.2 — 1.2 Pension and postretirement liability adjustment, net of tax benefit of $0.0 for the three months ended April 1, 2017 and April 2, 2016 (0.2 ) — (0.2 ) (0.2 ) — (0.2 ) Foreign currency translation adjustments (1.5 ) — (1.5 ) (38.7 ) (1.0 ) (39.7 ) Total comprehensive income (loss), net 16.4 — 16.4 (24.7 ) (0.4 ) (25.1 ) Incentive plan activity 3.8 — 3.8 2.7 — 2.7 Long-term incentive compensation expense 2.8 — 2.8 2.7 — 2.7 Restricted stock and restricted stock unit vesting, net of tax withholdings, and related tax benefit of $0.0 for the three months ended April 1, 2017 and April 2, 2016 (3.6 ) — (3.6 ) (3.3 ) — (3.3 ) Equity, end of period $ 211.0 $ — $ 211.0 $ 322.8 $ (37.5 ) $ 285.3

FAIR VALUE (Tables)

FAIR VALUE (Tables)	3 Months Ended
FAIR VALUE (Tables)	Apr. 01, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements, Nonrecurring	Summarized below are the liability (related to the parent company guarantees and bank and surety bonds) and asset (related to the cash collateral and guarantee provided by mutares AG) recorded at the time of sale, along with the change in the liability and the asset during the three months ended April 1, 2017. Guarantees and Bonds Liability Indemnification Assets Balance as of December 31, 2016 (1) (2) $ 9.9 $ 4.8 Reduction/Amortization for the period (3) (0.5 ) (0.6 ) Impact of changes in foreign currency rates 0.3 0.2 Balance as of April 1, 2017 (2) $ 9.7 $ 4.4 ___________________________ (1) In connection with the sale, we estimated the fair value of the existing parent company guarantees and bank and surety bonds considering the probability of default by Balcke Dürr and an estimate of the amount we would be obligated to pay in the event of a default. Additionally, we estimated the fair value of the cash collateral provided by Balcke Dürr and guarantee provided by mutares AG based on the terms and conditions and relative risk associated with each of these securities (unobservable inputs - Level 3). (2) Balance associated with the guarantees and bonds is reflected within “Other long-term liabilities,” while the balance associated with the indemnification assets is reflected within “Other assets.” (3) We reduce the liability generally at the earlier of the completion of the related underlying project milestones or the expiration of the guarantees or bonds. We amortize the asset based on the expiration terms of each of the securities. We record the reduction of the liability and the amortization of the asset to “Other income (expense), net.”

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) € in Millions, $ in Millions	Dec. 30, 2016USD ($)	Mar. 30, 2016USD ($)	Apr. 01, 2017USD ($)	Dec. 31, 2016USD ($)	Oct. 01, 2016USD ($)	Jul. 02, 2016USD ($)	Apr. 02, 2016USD ($)	Dec. 31, 2016USD ($)	Apr. 01, 2017EUR (€)	Dec. 30, 2016EUR (€)
Discontinued Operations
Cash proceeds from sale (less than $0.1 for the sale of Balcke Durr)			$ 0				$ 45.9
Gain on sale of dry cooling business			0				17.9
Net loss on sale of business			$ (7.1)				1.1
Length of second and third quarter			91 days
Dry Cooling Business \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Discontinued Operations
Cash proceeds from sale (less than $0.1 for the sale of Balcke Durr)		$ 45.9
Cash transferred with the business		$ 3
Gain on sale of dry cooling business							$ 17.9
Increase (reduction) of gain (loss)					$ 1.7	$ (1.2)
Dry Cooling Business \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Amount Reclassified from AOCI \| Foreign Currency Translation Adjustment
Discontinued Operations
Gain on sale of dry cooling business								$ 40.4
Balcke Durr Business \| Discontinued Operations, Disposed of by Sale \| Buyer
Discontinued Operations
Cash proceeds from sale (less than $0.1 for the sale of Balcke Durr)	$ 0.1
Cash transferred with the business	21.1
Increase (reduction) of gain (loss)			$ 7.2
Additional income tax benefit recorded from sale			8.4
Adjustments to liabilities retained in connection with the sale			$ 1.2
Net loss on sale of business				$ 78.6
Amount of guarantees \| €									€ 79	€ 79
Balcke Durr Business \| Discontinued Operations, Disposed of by Sale \| Buyer \| Bank and Surety Bonds
Discontinued Operations
Amount of guarantees \| €									71	79
Balcke Durr Business \| Discontinued Operations, Disposed of by Sale \| Buyer \| Balcke-Durr
Discontinued Operations
Cash collateral \| €									4	4
Balcke Durr Business \| Discontinued Operations, Disposed of by Sale \| Buyer \| mutares AG \| Indemnification Agreement
Discontinued Operations
Amount of guarantees \| €									€ 5	€ 5
Balcke Durr Business \| Discontinued Operations, Disposed of by Sale \| Buyer \| Loans Receivable
Discontinued Operations
Non-interest bearing loan	$ 9.1

NEW ACCOUNTING PRONOUNCEMENTS (

NEW ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Classification of excess income tax benefits on share-based compensation awards within operating activities	$ 1.7	$ (62.2)
Accounting Standards Update 2016-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Benefit for excess tax benefits related to stock compensation awards	1
Classification of excess income tax benefits on share-based compensation awards within operating activities	$ 1

DISCONTINUED OPERATIONS (Detail

DISCONTINUED OPERATIONS (Details) - USD ($) $ in Millions	3 Months Ended
DISCONTINUED OPERATIONS (Details) - USD ($) $ in Millions	Apr. 01, 2017	Apr. 02, 2016
Results of operations for discontinued operations
Loss from discontinued operations	$ 0	$ (5.5)
Income (loss) from discontinued operations and related income taxes
Pre-tax loss	(2.6)	(9)
Income tax benefit	9.7	2.4
Less: Income (loss) from discontinued operations, net of tax	7.1	(6.6)
Balcke Durr Business \| Discontinued Operations, Disposed of by Sale
Income (loss) from discontinued operations and related income taxes
Pre-tax loss	(2.1)
Income tax benefit	9.3
Less: Income (loss) from discontinued operations, net of tax	7.2
Balcke Durr Business \| Discontinued Operations, Disposed of by Sale \| Buyer
Non-cash items included in income from discontinued operations
Additional income tax benefit recorded from sale	8.4
Adjustments to liabilities retained in connection with the sale	1.2
Net gain (loss) resulting from revisions to liabilities retained from businesses discontinued prior to 2015	7.2
Balcke Durr Business \| Discontinued Operations, Held-for-sale
Results of operations for discontinued operations
Revenues		28.7
Costs of products sold		28.8
Selling, general and administrative		7.9
Special charges		(0.2)
Loss before taxes		(7.8)
Income tax benefit		2.3
Loss from discontinued operations		(5.5)
Non-cash items included in income from discontinued operations
Depreciation and amortization		0.5
Capital expenditures		0.3
Income (loss) from discontinued operations and related income taxes
Pre-tax loss		(7.8)
Income tax benefit		2.3
Less: Income (loss) from discontinued operations, net of tax		(5.5)
Other businesses sold prior to the earliest date presented in the financial statements \| Discontinued Operations, Disposed of by Sale
Non-cash items included in income from discontinued operations
Net gain (loss) resulting from revisions to liabilities retained from businesses discontinued prior to 2015	(0.1)
Other businesses sold prior to the earliest date presented in the financial statements \| Discontinued Operations, Held-for-sale
Non-cash items included in income from discontinued operations
Net gain (loss) resulting from revisions to liabilities retained from businesses discontinued prior to 2015		(1.1)
All other \| Discontinued Operations, Disposed of by Sale
Income (loss) from discontinued operations and related income taxes
Pre-tax loss	(0.5)	(1.2)
Income tax benefit	0.4	0.1
Less: Income (loss) from discontinued operations, net of tax	$ (0.1)	$ (1.1)

INFORMATION ON REPORTABLE SEG35

INFORMATION ON REPORTABLE SEGMENTS (Details) $ in Millions		3 Months Ended
INFORMATION ON REPORTABLE SEGMENTS (Details) $ in Millions		Apr. 01, 2017USD ($)countrysegment	Apr. 02, 2016USD ($)	Dec. 31, 2016USD ($)
Information on reportable segments and other operating segments
Number of reportable segments \| segment		3
Revenues:
Revenues	[1]	$ 340.6	$ 360.6
Revenues recognized under percentage of completion method		78.8	104.3
Income:
Pension and postretirement expense		(4.2)	(3.9)
Special charges, net		(0.5)	(0.5)
Impairment of intangible assets		0	(4)
Gain on sale of dry cooling business		0	17.9
Consolidated operating income		17.8	28.1
Assets
Costs and estimated earnings in excess of billings		38.1		$ 33.9
Liabilities
Billings in excess of costs and estimated earnings on uncompleted contracts reported as a component of accrued expenses		42.8		$ 53.3
Reportable and other operating segments
Income:
Consolidated operating income		34.3	29.8
Corporate
Income:
Corporate expense		(11.4)	(11.4)
Special charges, net		(0.1)	0
Segment Reconciling Items
Income:
Long-term incentive compensation expense		(3.2)	(2.7)
Pension and postretirement expense		(1.4)	(1)
Special charges, net		(0.5)	(0.5)
Impairment of intangible assets		0	(4)
Gain on sale of dry cooling business		0	17.9
HVAC segment
Revenues:
Revenues	[1]	110.1	111.6
Income:
Special charges, net		(0.1)	0
HVAC segment \| Reportable and other operating segments
Income:
Consolidated operating income		16.5	15.9
Detection and Measurement segment
Revenues:
Revenues	[1]	53.6	55.4
Income:
Special charges, net		(0.3)	(0.2)
Detection and Measurement segment \| Reportable and other operating segments
Income:
Consolidated operating income		11.2	11
Engineered Solutions segment
Revenues:
Revenues	[1]	176.9	193.6
Income:
Special charges, net		0	(0.3)
Engineered Solutions segment \| Reportable and other operating segments
Income:
Consolidated operating income		$ 6.6	$ 2.9
Minimum
Information on reportable segments and other operating segments
Number of countries in which entity operates (over 15 countries) \| country		15
Number of countries in which entity sells its products and services (over 100 countries) \| country		100

[1]	Under the percentage-of-completion method, we recognized revenues of $78.8 and $104.3 in the three months ended April 1, 2017 and April 2, 2016, respectively. Costs and estimated earnings in excess of billings on uncompleted contracts accounted for under the percentage-of-completion method were $38.1 and $33.9 as of April 1, 2017 and December 31, 2016, respectively, and are reported as a component of ‘‘Accounts receivable, net’’ in the condensed consolidated balance sheets. Billings in excess of costs and estimated earnings on uncompleted contracts accounted for under the percentage-of-completion method were $42.8 and $53.3 as of April 1, 2017 and December 31, 2016, respectively, and are reported as a component of ‘‘Accrued expenses’’ in the condensed consolidated balance sheets.

SPECIAL CHARGES, NET (Details)

SPECIAL CHARGES, NET (Details) - USD ($) $ in Millions	3 Months Ended
SPECIAL CHARGES, NET (Details) - USD ($) $ in Millions	Apr. 01, 2017	Apr. 02, 2016
Special Charges, Net
Special charges, net	$ 0.5	$ 0.5
Restructuring liabilities
Balance at beginning of year	0.9	1.6
Special charges	0.5	0.5
Utilization — cash	(0.6)	(0.4)
Balance at end of period	0.8	1.7
Corporate
Special Charges, Net
Special charges, net	0.1	0
HVAC segment
Special Charges, Net
Special charges, net	0.1	0
Detection and Measurement segment
Special Charges, Net
Special charges, net	0.3	0.2
Engineered Solutions segment
Special Charges, Net
Special charges, net	$ 0	$ 0.3

INVENTORIES, NET (Details)

INVENTORIES, NET (Details) - USD ($) $ in Millions	Apr. 01, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Finished goods	$ 47.9	$ 43
Work in process	55.4	50
Raw materials and purchased parts	68	64.9
Total FIFO cost	171.3	157.9
Excess of FIFO cost over LIFO inventory value	(12.1)	(12.2)
Total inventories, net	$ 159.2	$ 145.7
Inventories, valued using the last-in, first-out (LIFO) method, as a percentage of total inventory	54.00%	51.00%

GOODWILL AND OTHER INTANGIBLE38

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) $ in Millions	3 Months Ended
	Apr. 01, 2017USD ($)
Changes in the carrying amount of goodwill
Gross goodwill, beginning of the period	$ 824.3
Accumulated impairment, balance at the beginning of the period	(483.9)
Goodwill, balance at the beginning of the period	340.4
Gross goodwill related to foreign currency translation	4.6
Accumulated impairments related to foreign currency translation	(3.1)
Goodwill related to foreign currency translation	1.5
Gross goodwill, end of the period	828.9
Accumulated impairment, balance at the end of the period	(487)
Goodwill, balance at the end of the period	341.9
HVAC segment
Changes in the carrying amount of goodwill
Gross goodwill, beginning of the period	258.5
Accumulated impairment, balance at the beginning of the period	(144.2)
Goodwill, balance at the beginning of the period	114.3
Gross goodwill related to foreign currency translation	1.2
Accumulated impairments related to foreign currency translation	(0.1)
Goodwill related to foreign currency translation	1.1
Gross goodwill, end of the period	259.7
Accumulated impairment, balance at the end of the period	(144.3)
Goodwill, balance at the end of the period	115.4
Detection and Measurement segment
Changes in the carrying amount of goodwill
Gross goodwill, beginning of the period	214.4
Accumulated impairment, balance at the beginning of the period	(134.2)
Goodwill, balance at the beginning of the period	80.2
Gross goodwill related to foreign currency translation	0.4
Accumulated impairments related to foreign currency translation	(0.3)
Goodwill related to foreign currency translation	0.1
Gross goodwill, end of the period	214.8
Accumulated impairment, balance at the end of the period	(134.5)
Goodwill, balance at the end of the period	80.3
Engineered Solutions segment
Changes in the carrying amount of goodwill
Gross goodwill, beginning of the period	351.4
Accumulated impairment, balance at the beginning of the period	(205.5)
Goodwill, balance at the beginning of the period	145.9
Gross goodwill related to foreign currency translation	3
Accumulated impairments related to foreign currency translation	(2.7)
Goodwill related to foreign currency translation	0.3
Gross goodwill, end of the period	354.4
Accumulated impairment, balance at the end of the period	(208.2)
Goodwill, balance at the end of the period	$ 146.2

GOODWILL AND OTHER INTANGIBLE39

GOODWILL AND OTHER INTANGIBLE ASSETS (Details 2) - USD ($)		3 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS (Details 2) - USD ($)		Apr. 01, 2017	Apr. 02, 2016	Dec. 31, 2016
Intangible assets with determinable lives
Gross Carrying Value		$ 20,700,000		$ 20,700,000
Accumulated Amortization	[1]	(13,900,000)		(13,700,000)
Net Carrying Value		6,800,000		7,000,000
Intangible assets with indefinite lives
Gross carrying value, Total	[1]	131,900,000		131,600,000
Net Carrying Value, Total	[1]	118,000,000		117,900,000
Impairment of intangible assets		0	$ 4,000,000
HVAC segment
Intangible assets with determinable lives
Net Carrying Value		4,100,000
Intangible assets with indefinite lives
Trademarks		89,000,000
Detection and Measurement segment
Intangible assets with indefinite lives
Trademarks		9,800,000
Engineered Solutions segment
Intangible assets with determinable lives
Net Carrying Value		2,700,000
Intangible assets with indefinite lives
Trademarks		12,400,000
Trademarks with indefinite lives
Intangible assets with indefinite lives
Trademarks		111,200,000		110,900,000
Trademarks with indefinite lives \| SPX Heat Transfer Business
Intangible assets with indefinite lives
Impairment of intangible assets		0	$ 4,000,000
Customer relationships
Intangible assets with determinable lives
Gross Carrying Value		1,400,000		1,400,000
Accumulated Amortization		(1,400,000)		(1,400,000)
Net Carrying Value		0		0
Technology
Intangible assets with determinable lives
Gross Carrying Value		2,100,000		2,100,000
Accumulated Amortization		(400,000)		(400,000)
Net Carrying Value		1,700,000		1,700,000
Patents
Intangible assets with determinable lives
Gross Carrying Value		4,500,000		4,500,000
Accumulated Amortization		(4,500,000)		(4,500,000)
Net Carrying Value		0		0
Other
Intangible assets with determinable lives
Gross Carrying Value		12,700,000		12,700,000
Accumulated Amortization		(7,600,000)		(7,400,000)
Net Carrying Value		$ 5,100,000		$ 5,300,000

[1]	Changes in the gross carrying values of “Other Intangibles, Net” during the three months ended April 1, 2017 related to foreign currency translation.

WARRANTY (Details)

WARRANTY (Details) - USD ($) $ in Millions	3 Months Ended
WARRANTY (Details) - USD ($) $ in Millions	Apr. 01, 2017	Apr. 02, 2016
Analysis of product warranty accrual
Balance at beginning of year	$ 35.8	$ 36.3
Provisions	2.2	2.9
Usage	(4.7)	(4.6)
Currency translation adjustment	0.2	(0.5)
Balance at end of period	33.5	34.1
Less: Current portion of warranty	13.9	15.7
Non-current portion of warranty	$ 19.6	$ 18.4

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	3 Months Ended
EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	Apr. 01, 2017	Apr. 02, 2016
Domestic Pension Plans
Net periodic pension/postretirement benefit expense
Service cost	$ 0.1	$ 0.1
Interest cost	3.3	3.6
Expected return on plan assets	(2.5)	(3.2)
Total net periodic pension benefit (income) expense	0.9	0.5
Foreign Pension Plans
Net periodic pension/postretirement benefit expense
Service cost	0	0
Interest cost	1.2	1.4
Expected return on plan assets	(1.5)	(1.7)
Total net periodic pension benefit (income) expense	(0.3)	(0.3)
Postretirement Plans
Net periodic pension/postretirement benefit expense
Service cost	0	0
Interest cost	1	1
Amortization of unrecognized prior service credits	(0.2)	(0.2)
Total net periodic pension benefit (income) expense	$ 0.8	$ 0.8

INDEBTEDNESS (Details)

INDEBTEDNESS (Details) - USD ($)		3 Months Ended
INDEBTEDNESS (Details) - USD ($)		Apr. 01, 2017	Dec. 31, 2016
Debt
Balance at the beginning of the period		$ 356,200,000
Borrowings		6,100,000
Repayments		(8,700,000)
Other	[1]	900,000
Balance at the end of the period		354,500,000
Less: short-term debt		17,100,000	$ 14,800,000
Less: current maturities of long-term debt		18,000,000	17,900,000
Total long-term debt		319,400,000	323,500,000
Trade receivables financing arrangement
Debt
Balance at the beginning of the period	[2]	0
Borrowings	[2]	0
Repayments	[2]	0
Other	[1],[2]	0
Balance at the end of the period	[2]	0
Maximum borrowing capacity		50,000,000
Amount of available borrowing capacity		39,900,000
Other indebtedness
Debt
Balance at the beginning of the period	[3]	16,600,000
Borrowings	[3]	6,100,000
Repayments	[3]	(4,400,000)
Other	[1],[3]	800,000
Balance at the end of the period	[3]	19,100,000
Purchase card programs		3,600,000	3,900,000
Capital lease obligations		1,900,000	1,700,000
Revolving loans \| Current Revolving SPX Facilities
Debt
Balance at the beginning of the period		0
Borrowings		0
Repayments		0
Other	[1]	0
Balance at the end of the period		0
Term loans \| Current SPX Term Loan Facilities
Debt
Balance at the beginning of the period	[4]	339,600,000
Borrowings	[4]	0
Repayments	[4]	(4,300,000)
Other	[1],[4]	100,000
Balance at the end of the period	[4]	$ 335,400,000
Initial principal amount of the term loan to be repaid annually in quarterly installments (as a percent)		1.25%
Original loan balance		$ 350,000,000
Debt issuance costs		1,500,000	1,600,000
Foreign credit instrument facility \| Other indebtedness \| South Africa and China
Debt
Borrowings under line of credit		$ 13,000,000	$ 10,200,000

[1]	“Other” primarily includes debt assumed, foreign currency translation on any debt instruments denominated in currencies other than the U.S. dollar, and the impact of amortization of debt issuance costs associated with the term loan.
[2]	Under this arrangement, we can borrow, on a continuous basis, up to $50.0, as available. At April 1, 2017, we had $39.9 of available borrowing capacity under this facility.
[3]	Primarily includes balances under a purchase card program of $3.6 and $3.9, capital lease obligations of $1.9 and $1.7, and borrowings under lines of credit in South Africa and China totaling $13.0 and $10.2, at April 1, 2017 and December 31, 2016, respectively. The purchase card program allows for payment beyond the normal payment terms for goods and services acquired under the program. As this arrangement extends the payment of these purchases beyond their normal payment terms through third-party lending institutions, we have classified these amounts as short-term debt.
[4]	The term loan is repayable in quarterly installments of 1.25% of the original loan balance of $350.0. The remaining balance is repayable in full on September 24, 2020. Balances are net of unamortized debt issuance costs of $1.5 and $1.6 at April 1, 2017 and December 31, 2016, respectively.

INDEBTEDNESS (Details 2)

INDEBTEDNESS (Details 2) $ in Millions	Apr. 01, 2017USD ($)
Senior credit facility
Credit Facilities
Weighted-average interest rate of senior credit facilities (as a percent)	2.70%
Domestic revolving credit facility
Credit Facilities
Letters of credit issued, amount outstanding	$ 36.1
Foreign credit instrument facility
Credit Facilities
Letters of credit issued, amount outstanding	$ 199.7

DERIVATIVE FINANCIAL INSTRUME44

DERIVATIVE FINANCIAL INSTRUMENTS (Details) lb in Millions	3 Months Ended	12 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS (Details) lb in Millions	Apr. 01, 2017USD ($)lb	Dec. 31, 2016USD ($)lb	Jul. 02, 2016
Interest Rate Swap, Through September 2020
Derivative Financial Instruments
Unrealized gain (losses), net of tax, recorded in AOCI	$ 1,500,000
Interest Rate Swap, Through September 2020 \| Derivative contracts designated as hedging instruments
Derivative Financial Instruments
Aggregate notional amount	169,100,000
Long-term asset to recognize fair value of swaps	2,900,000
Interest Rate Swap, Through September 2020 \| Derivative contracts designated as hedging instruments \| Term loan
Derivative Financial Instruments
Percentage of borrowings converted to fixed rate			50.00%
Fixed rate (percentage)			1.2895%
FX Forward Contracts
Derivative Financial Instruments
Aggregate notional amount	5,400,000	$ 8,800,000
Unrealized gain (losses), net of tax, recorded in AOCI	0	0
FX embedded derivatives \| Derivative contracts not designated as hedging instruments
Derivative Financial Instruments
Aggregate notional amount	600,000	900,000
Commodity Contracts
Derivative Financial Instruments
Unrealized gain (losses), net of tax, recorded in AOCI	700,000	800,000
Fair value of derivative contract - current asset	$ 900,000	$ 1,100,000
Commodity Contracts \| Derivative contracts designated as hedging instruments
Derivative Financial Instruments
Notional amount of commodity contracts (in pounds of copper) \| lb	4	4.1

EQUITY AND LONG-TERM INCENTIV45

EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Details) - shares shares in Thousands	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Income Per Share
Weighted-average number of common shares used in basic income per share	42,108	41,293
Dilutive securities — Employee stock options, restricted stock shares and restricted stock units (in shares)	1,346	260
Weighted-average number of common shares and dilutive securities used in diluted income per share	43,454	41,553
Restricted stock shares/units
Stock-based Compensation
Number of options or units that were excluded from the computation of diluted income per share	395	1,169
Stock options
Stock-based Compensation
Number of options or units that were excluded from the computation of diluted income per share	983	1,085

EQUITY AND LONG-TERM INCENTIV46

EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Details 2) - USD ($) $ in Millions	Mar. 01, 2017	Apr. 01, 2017	Apr. 02, 2016
Performance Shares
Stock-based Compensation
Period over which the fair value of awards are amortized	3 years
Employee Stock Option and Restricted Stock Units
Stock-based Compensation
Period over which the fair value of awards are amortized	3 years
Long Term Cash Awards
Stock-based Compensation
Period over which the fair value of awards are amortized	3 years
Restricted stock shares, restricted stock units, and stock options
Stock-based Compensation
Compensation expense		$ 3.2	$ 2.7
Related tax benefit		$ 1.2	$ 1

EQUITY AND LONG-TERM INCENTIV47

EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Details 3) - Performance Stock Units and Restricted Stock Units $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Apr. 01, 2017USD ($)$ / sharesshares
Unvested Restricted Stock Shares and Restricted Stock Units
Outstanding at beginning of period (in shares) \| shares	1,702
Granted (in shares) \| shares	220
Vested (in shares) \| shares	(417)
Forfeited (in shares) \| shares	(202)
Outstanding at end of period (in shares) \| shares	1,303
Weighted-Average Grant-Date Fair Value Per Share
Outstanding at beginning of period (in dollars per share) \| $ / shares	$ 16.47
Granted (in dollars per share) \| $ / shares	28.40
Vested (in dollars per share) \| $ / shares	18.61
Forfeited (in dollars per share) \| $ / shares	21.24
Outstanding at end of period (in dollars per share) \| $ / shares	$ 16.96
Unrecognized compensation cost \| $	$ 14.8
Weighted average period for recognition	1 year 9 months 24 days

EQUITY AND LONG-TERM INCENTIV48

EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Details 4) - Stock options - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	Mar. 01, 2017	Apr. 01, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options granted	207
Exercise price per share of options granted	$ 27.40
Fair value of option grant
Fair value per share	$ 9.60
Annual expected stock price volatility	32.00%
Annual expected dividend yield	0.00%
Risk-free interest rate	2.14%
Expected life of stock option (in years)	6 years
Period of historical volatility	6 years
Expected option life	3 years
Unrecognized compensation cost		$ 4.5
Weighted average period for recognition		1 year 8 months 24 days
Minimum
Fair value of option grant
Duration of treasury constant maturity rate	5 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum contractual term	10 years
Fair value of option grant
Duration of treasury constant maturity rate	7 years

EQUITY AND LONG-TERM INCENTIV49

EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Details 5) - USD ($) $ in Millions	3 Months Ended
	Apr. 01, 2017		Apr. 02, 2016		Dec. 31, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss)
Components of accumulated other comprehensive income, net of tax [Roll Forward]
Balance at beginning of period	$ 235.1		$ 283.3
Other comprehensive income (loss) before reclassifications	(0.4)		1.5
Amounts reclassified from accumulated other comprehensive income	(0.6)		(39.2)	[1]
Current-period other comprehensive income (loss)	(1)		(37.7)
Balance at end of period	234.1		245.6
Foreign Currency Translation Adjustment
Components of accumulated other comprehensive income, net of tax [Roll Forward]
Balance at beginning of period	229.7		280.6
Other comprehensive income (loss) before reclassifications	(1.5)		1.7
Amounts reclassified from accumulated other comprehensive income	0		(40.4)	[1]
Current-period other comprehensive income (loss)	(1.5)		(38.7)
Balance at end of period	228.2		241.9
Foreign Currency Translation Adjustment \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Dry Cooling Business \| Gain on Sale of Dry Cooling Business
Components of accumulated other comprehensive income, net of tax [Roll Forward]
Amounts reclassified from accumulated other comprehensive income			(40.4)
Net Unrealized Gains (Losses) on Qualifying Cash Flow Hedges
Components of accumulated other comprehensive income, net of tax [Roll Forward]
Balance at beginning of period	1.5	[2]	(1.8)	[3]
Other comprehensive income (loss) before reclassifications	1.1	[2]	(0.2)	[3]
Amounts reclassified from accumulated other comprehensive income	(0.4)	[2]	1.4	[1],[3]
Current-period other comprehensive income (loss)	0.7	[2]	1.2	[3]
Balance at end of period	2.2	[2]	(0.6)	[3]
Tax benefit (provision)	1.3		(0.4)		$ 0.9	$ (0.8)
Pension and Postretirement Liability Adjustment
Components of accumulated other comprehensive income, net of tax [Roll Forward]
Balance at beginning of period	3.9	[4]	4.5	[5]
Other comprehensive income (loss) before reclassifications	0	[4]	0	[5]
Amounts reclassified from accumulated other comprehensive income	(0.2)	[4]	(0.2)	[1],[5]
Current-period other comprehensive income (loss)	(0.2)	[4]	(0.2)	[5]
Balance at end of period	3.7	[4]	4.3	[5]
Tax benefit (provision)	$ 2.7		$ 3.1		$ 2.7	$ 3.1

[1]	In connection with the sale of our dry cooling business, we reclassified $40.4 of other comprehensive income related to foreign currency translation to “Gain on sale of dry cooling business.”
[2]	Net of tax provision of $1.3 and $0.9 as of April 1, 2017 and December 31, 2016, respectively.
[3]	Net of tax benefit of $0.4 and $0.8 as of April 2, 2016 and December 31, 2015, respectively.
[4]	Net of tax provision of $2.7 as of April 1, 2017 and December 31, 2016. The balances as of April 1, 2017 and December 31, 2016 represent net unamortized prior service credits.
[5]	Net of tax provision of $3.1 as of April 2, 2016 and December 31, 2015. The balances as of April 2, 2016 and December 31, 2015 represent net unamortized prior service credits.

EQUITY AND LONG-TERM INCENTIV50

EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Details 6) - USD ($) $ in Millions		3 Months Ended		12 Months Ended
		Apr. 01, 2017	Apr. 02, 2016	Dec. 31, 2016
Amounts reclassified from each component of accumulated comprehensive income
Revenues	[1]	$ (340.6)	$ (360.6)
Cost of products sold		252.5	270.7
Interest expense		(4)	(3.5)
Income from continuing operations before income taxes		(13.5)	(26)
Income taxes		3.2	5.8
Net income		(17.4)	(13.6)
Selling, general and administrative		69.6	74.3
Gain on sale of dry cooling business		0	(17.9)
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Dry Cooling Business
Amounts reclassified from each component of accumulated comprehensive income
Gain on sale of dry cooling business			(17.9)
Gains (Losses) on qualifying cash flow hedges \| Amount Reclassified from AOCI
Amounts reclassified from each component of accumulated comprehensive income
Income from continuing operations before income taxes		(0.6)	1.7
Income taxes		0.2	(0.3)
Net income		(0.4)	1.4
Gains (Losses) on qualifying cash flow hedges \| FX Forward Contracts \| Amount Reclassified from AOCI
Amounts reclassified from each component of accumulated comprehensive income
Revenues		0	1
Gains (Losses) on qualifying cash flow hedges \| Commodity Contracts \| Amount Reclassified from AOCI
Amounts reclassified from each component of accumulated comprehensive income
Cost of products sold		(0.7)	0.7
Gains (Losses) on qualifying cash flow hedges \| Swaps \| Amount Reclassified from AOCI
Amounts reclassified from each component of accumulated comprehensive income
Interest expense		(0.1)	0
Gains on pension and postretirement items
Amounts reclassified from each component of accumulated comprehensive income
Income taxes		0	0
Amounts reclassified from accumulated other comprehensive income		(0.2)	(0.2)
Gains on pension and postretirement items \| Amount Reclassified from AOCI
Amounts reclassified from each component of accumulated comprehensive income
Selling, general and administrative		(0.2)	(0.2)
Gain on sale of dry cooling business \| Amount Reclassified from AOCI \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Dry Cooling Business
Amounts reclassified from each component of accumulated comprehensive income
Gain on sale of dry cooling business				$ (40.4)
Gain on sale of dry cooling business \| FX Forward Contracts \| Amount Reclassified from AOCI \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Dry Cooling Business
Amounts reclassified from each component of accumulated comprehensive income
Gain on sale of dry cooling business		$ 0	$ (40.4)

[1]	Under the percentage-of-completion method, we recognized revenues of $78.8 and $104.3 in the three months ended April 1, 2017 and April 2, 2016, respectively. Costs and estimated earnings in excess of billings on uncompleted contracts accounted for under the percentage-of-completion method were $38.1 and $33.9 as of April 1, 2017 and December 31, 2016, respectively, and are reported as a component of ‘‘Accounts receivable, net’’ in the condensed consolidated balance sheets. Billings in excess of costs and estimated earnings on uncompleted contracts accounted for under the percentage-of-completion method were $42.8 and $53.3 as of April 1, 2017 and December 31, 2016, respectively, and are reported as a component of ‘‘Accrued expenses’’ in the condensed consolidated balance sheets.

EQUITY AND LONG-TERM INCENTIV51

EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Details 7) - USD ($) $ in Millions	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Common Stock In Treasury
Common Stock in Treasury
Decrease in stock by the settlement of restricted stock units	$ 15.9	$ 17.8

EQUITY AND LONG-TERM INCENTIV52

EQUITY AND LONG-TERM INCENTIVE COMPENSATION (Details 8) - USD ($) $ in Millions	3 Months Ended
	Apr. 01, 2017	Apr. 02, 2016
Changes in Equity
Equity, beginning of period	$ 191.6	$ 308.3
Net income	17.4	13.6
Net unrealized gains on qualifying cash flow hedges, net of tax provision of $0.4 for the three months ended April 1, 2017 and April 2, 2016	0.7	1.2
Net unrealized gains (losses) on qualifying cash flow hedges, tax provision	0.4	0.4
Pension and postretirement liability adjustment, net of tax benefit of $0.0 for the three months ended April 1, 2017 and April 2, 2016	(0.2)	(0.2)
Pension and postretirement liability adjustment and other, tax benefit	0	0
Foreign currency translation adjustments	(1.5)	(39.7)
Total comprehensive income (loss), net	16.4	(25.1)
Incentive plan activity	3.8	2.7
Long-term incentive compensation expense	2.8	2.7
Restricted stock and restricted stock unit vesting, net of tax withholdings, and related tax benefit of $0.0 for the three months ended April 1, 2017 and April 2, 2016	(3.6)	(3.3)
Restricted stock and restricted stock unit vesting, net of tax withholdings, tax benefit	0	0
Equity, end of period	211	285.3
SPX Corporation Shareholders' Equity
Changes in Equity
Equity, beginning of period	191.6	345.4
Net income	17.4	13
Net unrealized gains on qualifying cash flow hedges, net of tax provision of $0.4 for the three months ended April 1, 2017 and April 2, 2016	0.7	1.2
Pension and postretirement liability adjustment, net of tax benefit of $0.0 for the three months ended April 1, 2017 and April 2, 2016	(0.2)	(0.2)
Foreign currency translation adjustments	(1.5)	(38.7)
Total comprehensive income (loss), net	16.4	(24.7)
Incentive plan activity	3.8	2.7
Long-term incentive compensation expense	2.8	2.7
Restricted stock and restricted stock unit vesting, net of tax withholdings, and related tax benefit of $0.0 for the three months ended April 1, 2017 and April 2, 2016	(3.6)	(3.3)
Equity, end of period	211	322.8
Noncontrolling Interests
Changes in Equity
Equity, beginning of period	0	(37.1)
Net income	0	0.6
Foreign currency translation adjustments	0	(1)
Total comprehensive income (loss), net	0	(0.4)
Equity, end of period	$ 0	$ (37.5)

CONTINGENT LIABILITIES AND OT53

CONTINGENT LIABILITIES AND OTHER MATTERS (Details) $ in Millions	3 Months Ended
	Apr. 01, 2017USD ($)corporate_entity	Apr. 02, 2016USD ($)	Dec. 31, 2016USD ($)
Contingent Liabilities and Other Matters
Carrying values of accruals	$ 651.7		$ 653.5
Liability for asbestos product liability matters	604.1		605.6
Payments for asbestos-related matters, net of insurance recoveries		$ 1.3
Asbestos Issue
Contingent Liabilities and Other Matters
Insurance recoveries for asbestos-related matters, net of payments	9
Cash proceeds received	$ 8.5
Asbestos Issue \| Minimum
Contingent Liabilities and Other Matters
Number of corporate entities named as defendants \| corporate_entity	50
Other Long Term Liabilities
Contingent Liabilities and Other Matters
Accruals included in other long-term liabilities	$ 617.6		621
Other assets \| Asbestos Issue
Contingent Liabilities and Other Matters
Insurance recovery assets	$ 554		$ 564.4

CONTINGENT LIABILITIES AND OT54

CONTINGENT LIABILITIES AND OTHER MATTERS (Details 2) - South Africa ZAR in Millions, $ in Millions	3 Months Ended
	Apr. 01, 2017USD ($)	Jul. 02, 2016USD ($)	Apr. 01, 2017ZAR	Jul. 06, 2016ZAR
SPX Technologies \| BEE Partner
Contingent Liabilities and Other Matters
Amount due from BEE Partner under promissory note \| ZAR				ZAR 30.3
SPX Technologies \| BEE Partner \| Put Option
Contingent Liabilities and Other Matters
Noncontrolling interest percentage	25.10%		25.10%
Amount entitled for Put Option exercise \| ZAR				ZAR 287.3
Net redemption value	$ 19.7		ZAR 257
Amount reclassified from non-controlling interest to paid in capital	38.7
Adjustment related to redeemable noncontrolling interest		$ 18.1
Large Power Projects
Contingent Liabilities and Other Matters
Revenue recognized	$ 27.5

CONTINGENT LIABILITIES AND OT55

CONTINGENT LIABILITIES AND OTHER MATTERS (Details 3) - Site investigation and remediation - site	Apr. 01, 2017	Dec. 31, 2016
Environmental Matters
Number of sites	28	30
Number of third-party disposal sites for which entity is potentially responsible	22
Number of active sites	8

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended
INCOME TAXES (Details) - USD ($) $ in Millions	Apr. 01, 2017	Apr. 02, 2016
Uncertain Tax Benefits
Gross unrecognized tax benefits	$ 38
Net unrecognized tax benefits	25.3
Net unrecognized tax benefits that would impact effective tax rate if recognized	20.4
Gross accrued interest	4.1
Net accrued interest	2.6
Penalties recorded	0
Other Tax Matters
Income tax provision	(3.2)	$ (5.8)
Pre-tax income (loss) from continuing operations	$ 13.5	$ 26
Effective income tax rate (as a percent)	23.70%	22.30%
Gain on sale of dry cooling business	$ 0	$ 17.9
Accounting Standards Update 2016-09
Other Tax Matters
Benefit for excess tax benefits related to stock compensation awards	1
Minimum
Uncertain Tax Benefits
Reasonably possible amount that unrecognized tax benefits could decrease within next 12 months, high end of range	6
Maximum
Uncertain Tax Benefits
Reasonably possible amount that unrecognized tax benefits could decrease within next 12 months, high end of range	10
Foreign
Other Tax Matters
Foreign losses generated for which no tax benefit was recognized	$ 5	4.7
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Dry Cooling Business
Other Tax Matters
Taxes provided in connection with sale of dry cooling business		0.7
Gain on sale of dry cooling business		$ 17.9

FAIR VALUE (Details)

FAIR VALUE (Details) - Discontinued Operations, Disposed of by Sale - Buyer - Balcke Durr Business - EUR (€) € in Millions	Apr. 01, 2017	Dec. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of guarantees	€ 79	€ 79
Bank and Surety Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of guarantees	71	79
Balcke-Durr
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash collateral	4	4
mutares AG \| Indemnification Agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount of guarantees	€ 5	€ 5

FAIR VALUE (Details 2)

FAIR VALUE (Details 2) - USD ($) $ in Millions		3 Months Ended
FAIR VALUE (Details 2) - USD ($) $ in Millions		Apr. 01, 2017	Apr. 02, 2016
Fair Value, Assets and Liabilities Measured on Non-Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Reduction/Amortization for the period		$ (0.7)	$ 1.2
Balcke Durr Business \| Discontinued Operations, Disposed of by Sale \| Guarantees and Bonds \| Fair Value, Measurements, Nonrecurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Non-Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Guarantees and Bonds Liability, Balance	[1],[2]	9.9
Reduction/Amortization for the period	[3]	0.5
Impact of changes in foreign currency rates		(0.3)
Guarantees and Bonds Liability, Balance	[1]	9.7
Balcke Durr Business \| Discontinued Operations, Disposed of by Sale \| Indemnification Agreement \| Fair Value, Measurements, Nonrecurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Non-Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Indemnification Assets, Balance	[1],[2]	4.8
Reduction/Amortization for the period	[3]	(0.6)
Impact of changes in foreign currency rates		0.2
Indemnification Assets, Balance	[1]	$ 4.4

[1]	Balance associated with the guarantees and bonds is reflected within “Other long-term liabilities,” while the balance associated with the indemnification assets is reflected within “Other assets.”
[2]	In connection with the sale, we estimated the fair value of the existing parent company guarantees and bank and surety bonds considering the probability of default by Balcke Dürr and an estimate of the amount we would be obligated to pay in the event of a default. Additionally, we estimated the fair value of the cash collateral provided by Balcke Dürr and guarantee provided by mutares AG based on the terms and conditions and relative risk associated with each of these securities (unobservable inputs - Level 3).
[3]	We reduce the liability generally at the earlier of the completion of the related underlying project milestones or the expiration of the guarantees or bonds. We amortize the asset based on the expiration terms of each of the securities. We record the reduction of the liability and the amortization of the asset to “Other income (expense), net.”