$SPXC
SPX Technologies, Inc.

2020 Q1 Form 10-Q Financial Statement

#000008820520000016 Filed on May 01, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q4 2019 Q1
Revenue $254.7M $444.6M $343.6M
YoY Change -25.87% -0.09% -2.36%
Cost Of Revenue $253.7M $301.1M $260.4M
YoY Change -2.57% -2.81% -0.53%
Gross Profit $90.50M $143.5M $83.20M
YoY Change 8.77% 6.14% -7.66%
Gross Profit Margin 35.53% 32.28% 24.21%
Selling, General & Admin $78.90M $89.00M $76.70M
YoY Change 2.87% 11.53% 11.81%
% of Gross Profit 87.18% 62.02% 92.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.200M $9.800M $8.100M
YoY Change 13.58% 24.05% 22.73%
% of Gross Profit 10.17% 6.83% 9.74%
Operating Expenses $78.90M $91.90M $76.70M
YoY Change 2.87% 13.04% 11.81%
Operating Profit $32.30M $51.60M $3.000M
YoY Change 976.67% -4.27% -84.46%
Interest Expense $4.700M -$4.900M $5.300M
YoY Change -11.32% -15.52% 23.26%
% of Operating Profit 14.55% -9.5% 176.67%
Other Income/Expense, Net $700.0K -$15.00M $1.800M
YoY Change -61.11% 30.43%
Pretax Income $28.30M $30.50M $5.200M
YoY Change 444.23% -11.59% -68.48%
Income Tax $6.000M $2.000M $4.600M
% Of Pretax Income 21.2% 6.56% 88.46%
Net Earnings $22.70M $25.40M -$800.0K
YoY Change -2937.5% -35.2% -106.45%
Net Earnings / Revenue 8.91% 5.71% -0.23%
Basic Earnings Per Share $0.52 $0.70 -$0.02
Diluted Earnings Per Share $0.51 $0.68 -$0.02
COMMON SHARES
Basic Shares Outstanding 44.31M shares 44.15M shares 43.62M shares
Diluted Shares Outstanding 45.53M shares 44.88M shares

Balance Sheet

Concept 2020 Q1 2019 Q4 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $163.1M $54.70M $39.00M
YoY Change 318.21% -20.49% -62.39%
Cash & Equivalents $163.1M $50.70M $39.00M
Short-Term Investments
Other Short-Term Assets $92.60M $93.00M $44.00M
YoY Change 110.45% 129.63% -53.24%
Inventory $175.1M $154.9M $151.5M
Prepaid Expenses
Receivables $239.6M $264.8M $250.3M
Other Receivables $22.70M $23.00M $18.90M
Total Short-Term Assets $744.0M $632.1M $553.7M
YoY Change 34.37% 5.63% -7.49%
LONG-TERM ASSETS
Property, Plant & Equipment $176.9M $179.1M $178.3M
YoY Change -0.79% -2.77% -4.04%
Goodwill $446.6M $318.0M $430.0M
YoY Change 3.86% -19.37% 23.1%
Intangibles $247.6M $251.7M $231.9M
YoY Change 6.77% 26.86% 80.05%
Long-Term Investments
YoY Change
Other Assets $592.0M $605.5M $685.4M
YoY Change -13.63% -7.94% -1.72%
Total Long-Term Assets $1.478B $1.536B $1.548B
YoY Change -4.51% 5.25% 9.49%
TOTAL ASSETS
Total Short-Term Assets $744.0M $632.1M $553.7M
Total Long-Term Assets $1.478B $1.536B $1.548B
Total Assets $2.222B $2.168B $2.101B
YoY Change 5.73% 5.36% 4.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $148.0M $141.2M $142.2M
YoY Change 4.08% -8.07% -1.93%
Accrued Expenses $195.0M $219.6M $191.6M
YoY Change 1.77% 19.54% -1.03%
Deferred Revenue $94.00M $100.5M $79.50M
YoY Change 18.24% 26.42% -8.52%
Short-Term Debt $260.3M $142.6M $75.00M
YoY Change 247.07% 347.02% 1002.94%
Long-Term Debt Due $2.600M $1.000M $14.20M
YoY Change -81.69% -94.44% 189.8%
Total Short-Term Liabilities $702.1M $608.6M $495.0M
YoY Change 41.84% 29.43% 15.6%
LONG-TERM LIABILITIES
Long-Term Debt $248.6M $249.9M $332.3M
YoY Change -25.19% -24.71% -3.65%
Other Long-Term Liabilities $729.9M $747.1M $837.1M
YoY Change -12.81% -8.59% -5.33%
Total Long-Term Liabilities $1.005B $1.024B $1.191B
YoY Change -15.65% -12.7% -4.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $702.1M $608.6M $495.0M
Total Long-Term Liabilities $1.005B $1.024B $1.191B
Total Liabilities $1.707B $1.632B $1.686B
YoY Change 1.23% -0.64% 0.43%
SHAREHOLDERS EQUITY
Retained Earnings -$562.6M -$584.8M -$650.9M
YoY Change -13.57% -10.04% -11.84%
Common Stock $1.299B $1.302B $1.280B
YoY Change 1.45% 0.54% -1.58%
Preferred Stock
YoY Change
Treasury Stock (at cost) $452.7M $460.0M $460.8M
YoY Change -1.76% -3.32% -6.21%
Treasury Stock Shares 7.692M shares 7.815M shares 7.829M shares
Shareholders Equity $515.1M $502.4M $415.3M
YoY Change
Total Liabilities & Shareholders Equity $2.222B $2.135B $2.101B
YoY Change 5.73% 3.74% 4.44%

Cashflow Statement

Concept 2020 Q1 2019 Q4 2019 Q1
OPERATING ACTIVITIES
Net Income $22.70M $25.40M -$800.0K
YoY Change -2937.5% -35.2% -106.45%
Depreciation, Depletion And Amortization $9.200M $9.800M $8.100M
YoY Change 13.58% 24.05% 22.73%
Cash From Operating Activities -$400.0K $78.80M $10.60M
YoY Change -103.77% -19.01% 360.87%
INVESTING ACTIVITIES
Capital Expenditures -$3.600M -$7.100M -$3.700M
YoY Change -2.7% 61.36% 15.63%
Acquisitions $0.00 $77.00M
YoY Change -100.0% 372.39%
Other Investing Activities $1.100M -$59.90M -$71.00M
YoY Change -101.55% -7587.5% 340.99%
Cash From Investing Activities -$2.500M -$67.00M -$74.70M
YoY Change -96.65% 1761.11% 287.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $113.0M -6.400M $32.70M
YoY Change 245.57% -92.56% -1008.33%
NET CHANGE
Cash From Operating Activities -$400.0K 78.80M $10.60M
Cash From Investing Activities -$2.500M -67.00M -$74.70M
Cash From Financing Activities $113.0M -6.400M $32.70M
Net Change In Cash $108.4M 5.400M -$29.80M
YoY Change -463.76% -29.87% 44.66%
FREE CASH FLOW
Cash From Operating Activities -$400.0K $78.80M $10.60M
Capital Expenditures -$3.600M -$7.100M -$3.700M
Free Cash Flow $3.200M $85.90M $14.30M
YoY Change -77.62% -15.54% 160.0%

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CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1700000 USD
CY2019Q1 spxc Stock Issued During Period Value Share Based Compensation Plans Net Of Tax
StockIssuedDuringPeriodValueShareBasedCompensationPlansNetOfTax
3400000 USD
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2600000 USD
CY2019Q1 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-6500000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
415300000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
22700000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
-800000 USD
CY2020Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
CY2019Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-1400000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
22700000 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
600000 USD
CY2020Q1 spxc Special Charges
SpecialCharges
300000 USD
CY2019Q1 spxc Special Charges
SpecialCharges
100000 USD
CY2020Q1 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
0 USD
CY2019Q1 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
6300000 USD
CY2020Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
3900000 USD
CY2019Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
2500000 USD
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9200000 USD
CY2019Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
8100000 USD
CY2020Q1 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
2200000 USD
CY2019Q1 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
2800000 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3500000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3500000 USD
CY2020Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-700000 USD
CY2019Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-300000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
-23800000 USD
CY2019Q1 us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
-47500000 USD
CY2020Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
22700000 USD
CY2019Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
14400000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-40400000 USD
CY2019Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-32200000 USD
CY2020Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
500000 USD
CY2019Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
1000000.0 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
2700000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
11500000 USD
CY2020Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-3100000 USD
CY2019Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-900000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-400000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
10600000 USD
CY2020Q1 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
1100000 USD
CY2019Q1 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
500000 USD
CY2020Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2019Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
77000000.0 USD
CY2020Q1 spxc Proceeds From Sale Of Assets
ProceedsFromSaleOfAssets
0 USD
CY2019Q1 spxc Proceeds From Sale Of Assets
ProceedsFromSaleOfAssets
5500000 USD
CY2020Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
3600000 USD
CY2019Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
3700000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-2500000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-74700000 USD
CY2020Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
0 USD
CY2019Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
0 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2500000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-74700000 USD
CY2020Q1 spxc Borrowings Under Senior Credit Facilities
BorrowingsUnderSeniorCreditFacilities
178700000 USD
CY2019Q1 spxc Borrowings Under Senior Credit Facilities
BorrowingsUnderSeniorCreditFacilities
89300000 USD
CY2020Q1 spxc Repayments Under Senior Credit Facilities
RepaymentsUnderSeniorCreditFacilities
88700000 USD
CY2019Q1 spxc Repayments Under Senior Credit Facilities
RepaymentsUnderSeniorCreditFacilities
64500000 USD
CY2020Q1 spxc Borrowing Under Trade Receivables Agreement
BorrowingUnderTradeReceivablesAgreement
55000000.0 USD
CY2019Q1 spxc Borrowing Under Trade Receivables Agreement
BorrowingUnderTradeReceivablesAgreement
40000000.0 USD
CY2020Q1 spxc Repayments Under Trade Receivables Agreement
RepaymentsUnderTradeReceivablesAgreement
27000000.0 USD
CY2019Q1 spxc Repayments Under Trade Receivables Agreement
RepaymentsUnderTradeReceivablesAgreement
29000000.0 USD
CY2020Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-700000 USD
CY2019Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
2800000 USD
CY2020Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
1500000 USD
CY2019Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
0 USD
CY2020Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2800000 USD
CY2019Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5900000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
113000000.0 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
32700000 USD
CY2020Q1 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
0 USD
CY2019Q1 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
0 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
113000000.0 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
32700000 USD
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-1700000 USD
CY2019Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1600000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
108400000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-29800000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
54700000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
68800000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
163100000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
39000000.0 USD
CY2020Q1 us-gaap Use Of Estimates
UseOfEstimates
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, 2019. Interim results are not necessarily indicative of full year results. Unless otherwise indicated, amounts provided in these Notes pertain to continuing operations only. See Note 3 for information on discontinued operations.
CY2020Q1 us-gaap Fiscal Period
FiscalPeriod
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 2020 are March 28, June 27 and September 26, compared to the respective March 30, June 29 and September 28, 2019 dates. We had one less day in the first quarter of 2020 and will have two more days in the fourth quarter of 2020 than in the respective 2019 periods. We do not believe the one less day during the first quarter of 2020 had a material impact on our consolidated operating results, when compared to the consolidated operating results for the first quarter 2019.
CY2020Q1 spxc Number Of Days In Second And Third Quarter
NumberOfDaysInSecondAndThirdQuarter
P91D
CY2019Q1 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-1400000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
369300000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
369300000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
343600000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
343600000 USD
CY2020Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
235200000 USD
CY2019Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
260800000 USD
CY2020Q1 spxc Increase Decreasein Accounts Receivable Net
IncreaseDecreaseinAccountsReceivableNet
-25600000 USD
CY2020Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
73600000 USD
CY2019Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
63400000 USD
CY2020Q1 spxc Increase Decreasein Contractwith Customer Asset Net Current
IncreaseDecreaseinContractwithCustomerAssetNetCurrent
10200000 USD
CY2020Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
94000000.0 USD
CY2019Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
100800000 USD
CY2020Q1 spxc Increase Decreasein Contractwith Customer Liability Current
IncreaseDecreaseinContractwithCustomerLiabilityCurrent
6800000 USD
CY2020Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
2400000 USD
CY2019Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
3300000 USD
CY2020Q1 spxc Increase Decreasein Contractwith Customer Liability Noncurrent
IncreaseDecreaseinContractwithCustomerLiabilityNoncurrent
900000 USD
CY2020Q1 spxc Contractwith Customers Net
ContractwithCustomersNet
212400000 USD
CY2019Q4 spxc Contractwith Customers Net
ContractwithCustomersNet
220100000 USD
CY2020Q1 spxc Increase Decreasein Contractwith Customers Net
IncreaseDecreaseinContractwithCustomersNet
-7700000 USD
CY2020Q1 spxc Increase Decreasein Contractwith Customers Net
IncreaseDecreaseinContractwithCustomersNet
-7700000 USD
CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
44600000 USD
CY2020Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
74000000.0 USD
CY2020Q1 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.36
CY2020Q1 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.61
CY2020Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2020Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
17600000 USD
CY2020Q1 spxc Lessee Operating Lease Annual Payment
LesseeOperatingLeaseAnnualPayment
2100000 USD
CY2020Q1 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
17 country
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
369300000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
343600000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
32700000 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
3000000.0 USD
CY2020Q1 spxc Special Charges
SpecialCharges
300000 USD
CY2019Q1 spxc Special Charges
SpecialCharges
100000 USD
CY2019Q4 spxc Restructuring And Integration Reserves
RestructuringAndIntegrationReserves
1700000 USD
CY2018Q4 spxc Restructuring And Integration Reserves
RestructuringAndIntegrationReserves
2700000 USD
CY2020Q1 spxc Restructuring And Integration Reserves Period Expense
RestructuringAndIntegrationReservesPeriodExpense
300000 USD
CY2019Q1 spxc Restructuring And Integration Reserves Period Expense
RestructuringAndIntegrationReservesPeriodExpense
100000 USD
CY2020Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
500000 USD
CY2019Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
1000000.0 USD
CY2020Q1 spxc Restructuring And Integration Reserves Translation And Other Adjustment
RestructuringAndIntegrationReservesTranslationAndOtherAdjustment
200000 USD
CY2019Q1 spxc Restructuring And Integration Reserves Translation And Other Adjustment
RestructuringAndIntegrationReservesTranslationAndOtherAdjustment
0 USD
CY2020Q1 spxc Restructuring And Integration Reserves
RestructuringAndIntegrationReserves
1300000 USD
CY2019Q1 spxc Restructuring And Integration Reserves
RestructuringAndIntegrationReserves
1800000 USD
CY2020Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
66400000 USD
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
57600000 USD
CY2020Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
23800000 USD
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
19300000 USD
CY2020Q1 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
97700000 USD
CY2019Q4 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
90300000 USD
CY2020Q1 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
187900000 USD
CY2019Q4 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
167200000 USD
CY2020Q1 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
12800000 USD
CY2019Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
12300000 USD
CY2020Q1 us-gaap Inventory Net
InventoryNet
175100000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
154900000 USD
CY2020Q1 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.41
CY2019Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.36
CY2019Q4 us-gaap Goodwill Gross
GoodwillGross
936200000 USD
CY2020Q1 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
-100000 USD
CY2020Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2020Q1 spxc Gross Goodwill Related To Foreign Currency Translation And Other
GrossGoodwillRelatedToForeignCurrencyTranslationAndOther
-8500000 USD
CY2020Q1 us-gaap Goodwill Gross
GoodwillGross
927600000 USD
CY2019Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
486900000 USD
CY2020Q1 spxc Accumulated Impairments Related To Foreign Currency Translation And Other
AccumulatedImpairmentsRelatedToForeignCurrencyTranslationAndOther
-5900000 USD
CY2020Q1 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
481000000.0 USD
CY2019Q4 us-gaap Goodwill
Goodwill
449300000 USD
CY2020Q1 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
-100000 USD
CY2020Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2020Q1 spxc Goodwill Related To Foreign Currency Translation And Other
GoodwillRelatedToForeignCurrencyTranslationAndOther
-2600000 USD
CY2020Q1 us-gaap Goodwill
Goodwill
446600000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
123300000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
28200000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
95100000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
124000000.0 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
25700000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
98300000 USD
CY2020Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
275800000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
28200000 USD
CY2020Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
247600000 USD
CY2019Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
277400000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
25700000 USD
CY2019Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
251700000 USD
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
35100000 USD
CY2018Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
34000000.0 USD
CY2020Q1 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
0 USD
CY2019Q1 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
100000 USD
CY2020Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2900000 USD
CY2019Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2900000 USD
CY2020Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
3500000 USD
CY2019Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
3800000 USD
CY2020Q1 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-100000 USD
CY2019Q1 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
0 USD
CY2020Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
34400000 USD
CY2019Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
33200000 USD
CY2020Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
11900000 USD
CY2019Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
11000000.0 USD
CY2020Q1 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
22500000 USD
CY2019Q1 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
22200000 USD
CY2019Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
393500000 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
233700000 USD
CY2019Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
142600000 USD
CY2020Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
116400000 USD
CY2020Q1 us-gaap Debt Instrument Increase Decrease Other Net
DebtInstrumentIncreaseDecreaseOtherNet
700000 USD
CY2020Q1 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
511500000 USD
CY2020Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
260300000 USD
CY2019Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
1000000.0 USD
CY2020Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
2600000 USD
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
249900000 USD
CY2020Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
248600000 USD
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44309000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43618000 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1218000 shares
CY2019Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1262000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45527000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44880000 shares
CY2020Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-12400000 USD
CY2020Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
500000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-12900000 USD
CY2019Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-100000 USD
CY2019Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-1800000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1700000 USD
CY2020Q1 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
580400000 USD
CY2020Q1 us-gaap Liability For Asbestos And Environmental Claims Gross
LiabilityForAsbestosAndEnvironmentalClaimsGross
540600000 USD
CY2019Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
592400000 USD
CY2019Q4 us-gaap Liability For Asbestos And Environmental Claims Gross
LiabilityForAsbestosAndEnvironmentalClaimsGross
552200000 USD
CY2020Q1 us-gaap Insurance Recoveries
InsuranceRecoveries
7800000 USD
CY2020Q1 us-gaap Liability For Asbestos And Environmental Claims Net Payment For Claims
LiabilityForAsbestosAndEnvironmentalClaimsNetPaymentForClaims
4200000 USD
CY2019Q1 us-gaap Liability For Asbestos And Environmental Claims Net Payment For Claims
LiabilityForAsbestosAndEnvironmentalClaimsNetPaymentForClaims
11200000 USD
CY2019Q1 us-gaap Insurance Recoveries
InsuranceRecoveries
2800000 USD
CY2020Q1 spxc Number Of Large Power Projects
NumberOfLargePowerProjects
2 project
CY2020Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
17200000 USD
CY2020Q1 spxc Unrecognized Tax Benefits Net
UnrecognizedTaxBenefitsNet
13900000 USD
CY2020Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
9800000 USD
CY2020Q1 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
4300000 USD
CY2020Q1 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
21900000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
28700000 USD
CY2020Q1 spxc Unrecognized Tax Benefits Interest On Income Taxes Accrued Net
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccruedNet
3400000 USD
CY2020Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
0 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6000000.0 USD
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.209
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4600000 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5200000 USD
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.885
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
1200000 USD
CY2019Q1 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
1200000 USD
CY2019Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
21900000 USD
CY2019Q1 us-gaap Equity Securities Fv Ni Realized Gain
EquitySecuritiesFvNiRealizedGain
6300000 USD
CY2019Q1 spxc Equity Securities Fvni Distributions
EquitySecuritiesFVNIDistributions
2600000 USD

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