$SPXC
SPX Technologies, Inc.

2021 Q2 Form 10-Q Financial Statement

#000008820521000015 Filed on May 07, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q1
Revenue $287.2M $254.7M
YoY Change 11.62% -25.87%
Cost Of Revenue $182.8M $253.7M
YoY Change 7.72% -2.57%
Gross Profit $104.4M $90.50M
YoY Change 16.78% 8.77%
Gross Profit Margin 36.35% 35.53%
Selling, General & Admin $75.20M $78.90M
YoY Change 11.57% 2.87%
% of Gross Profit 72.03% 87.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.700M $9.200M
YoY Change -6.45% 13.58%
% of Gross Profit 8.33% 10.17%
Operating Expenses $75.20M $78.90M
YoY Change 11.57% 2.87%
Operating Profit $25.00M $32.30M
YoY Change 42.86% 976.67%
Interest Expense $4.200M $4.700M
YoY Change -12.5% -11.32%
% of Operating Profit 16.8% 14.55%
Other Income/Expense, Net $7.400M $700.0K
YoY Change 37.04% -61.11%
Pretax Income $28.30M $28.30M
YoY Change 55.49% 444.23%
Income Tax $5.300M $6.000M
% Of Pretax Income 18.73% 21.2%
Net Earnings $26.80M $22.70M
YoY Change -1.11% -2937.5%
Net Earnings / Revenue 9.33% 8.91%
Basic Earnings Per Share $0.59 $0.52
Diluted Earnings Per Share $0.58 $0.51
COMMON SHARES
Basic Shares Outstanding 45.13M shares 44.31M shares
Diluted Shares Outstanding 46.32M shares 45.53M shares

Balance Sheet

Concept 2021 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $106.9M $163.1M
YoY Change -43.8% 318.21%
Cash & Equivalents $90.70M $163.1M
Short-Term Investments
Other Short-Term Assets $105.5M $92.60M
YoY Change 14.43% 110.45%
Inventory $169.7M $175.1M
Prepaid Expenses
Receivables $237.6M $239.6M
Other Receivables $29.30M $22.70M
Total Short-Term Assets $695.5M $744.0M
YoY Change -9.56% 34.37%
LONG-TERM ASSETS
Property, Plant & Equipment $186.6M $176.9M
YoY Change 4.77% -0.79%
Goodwill $500.2M $446.6M
YoY Change 10.91% 3.86%
Intangibles $300.3M $247.6M
YoY Change 21.83% 6.77%
Long-Term Investments
YoY Change
Other Assets $613.0M $592.0M
YoY Change 1.56% -13.63%
Total Long-Term Assets $1.602B $1.478B
YoY Change 7.67% -4.51%
TOTAL ASSETS
Total Short-Term Assets $695.5M $744.0M
Total Long-Term Assets $1.602B $1.478B
Total Assets $2.297B $2.222B
YoY Change 1.8% 5.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $135.0M $148.0M
YoY Change -2.1% 4.08%
Accrued Expenses $234.6M $195.0M
YoY Change 16.48% 1.77%
Deferred Revenue $106.7M $94.00M
YoY Change 17.12% 18.24%
Short-Term Debt $100.0M $260.3M
YoY Change -62.52% 247.07%
Long-Term Debt Due $8.900M $2.600M
YoY Change 117.07% -81.69%
Total Short-Term Liabilities $586.8M $702.1M
YoY Change -16.65% 41.84%
LONG-TERM LIABILITIES
Long-Term Debt $282.6M $248.6M
YoY Change 14.41% -25.19%
Other Long-Term Liabilities $737.8M $729.9M
YoY Change 1.49% -12.81%
Total Long-Term Liabilities $1.049B $1.005B
YoY Change 4.91% -15.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $586.8M $702.1M
Total Long-Term Liabilities $1.049B $1.005B
Total Liabilities $1.636B $1.707B
YoY Change -4.0% 1.23%
SHAREHOLDERS EQUITY
Retained Earnings -$461.3M -$562.6M
YoY Change -13.86% -13.57%
Common Stock $1.316B $1.299B
YoY Change 0.95% 1.45%
Preferred Stock
YoY Change
Treasury Stock (at cost) $445.4M $452.7M
YoY Change -1.37% -1.76%
Treasury Stock Shares 7.569M shares 7.692M shares
Shareholders Equity $671.7M $515.1M
YoY Change
Total Liabilities & Shareholders Equity $2.297B $2.222B
YoY Change 1.8% 5.73%

Cashflow Statement

Concept 2021 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $26.80M $22.70M
YoY Change -1.11% -2937.5%
Depreciation, Depletion And Amortization $8.700M $9.200M
YoY Change -6.45% 13.58%
Cash From Operating Activities $60.20M -$400.0K
YoY Change 125.47% -103.77%
INVESTING ACTIVITIES
Capital Expenditures -$2.600M -$3.600M
YoY Change -55.17% -2.7%
Acquisitions $0.00 $0.00
YoY Change -100.0%
Other Investing Activities $3.500M $1.100M
YoY Change -101.55%
Cash From Investing Activities $900.0K -$2.500M
YoY Change -115.52% -96.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$25.60M $113.0M
YoY Change -476.47% 245.57%
NET CHANGE
Cash From Operating Activities $60.20M -$400.0K
Cash From Investing Activities $900.0K -$2.500M
Cash From Financing Activities -$25.60M $113.0M
Net Change In Cash $38.60M $108.4M
YoY Change 39.35% -463.76%
FREE CASH FLOW
Cash From Operating Activities $60.20M -$400.0K
Capital Expenditures -$2.600M -$3.600M
Free Cash Flow $62.80M $3.200M
YoY Change 93.23% -77.62%

Facts In Submission

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IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
22300000 USD
CY2021Q2 spxc Special Charges
SpecialCharges
700000 USD
CY2020Q1 spxc Special Charges
SpecialCharges
300000 USD
CY2021Q2 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
5200000 USD
CY2020Q1 us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
0 USD
CY2021Q2 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
8300000 USD
CY2020Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
3900000 USD
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
11100000 USD
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9200000 USD
CY2021Q2 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
1700000 USD
CY2020Q1 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
2200000 USD
CY2021Q2 us-gaap Share Based Compensation
ShareBasedCompensation
3000000.0 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3500000 USD
CY2021Q2 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
0 USD
CY2020Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-700000 USD
CY2021Q2 us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
-41200000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
-24400000 USD
CY2021Q2 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
7500000 USD
CY2020Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
22800000 USD
CY2021Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-16700000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-40700000 USD
CY2021Q2 us-gaap Payments For Restructuring
PaymentsForRestructuring
500000 USD
CY2020Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
500000 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
63700000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
2500000 USD
CY2021Q2 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-3500000 USD
CY2020Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-2900000 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
60200000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-400000 USD
CY2021Q2 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
3500000 USD
CY2020Q1 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
1100000 USD
CY2021Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2600000 USD
CY2020Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
3600000 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
900000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-2500000 USD
CY2021Q2 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
0 USD
CY2020Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
0 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
900000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2500000 USD
CY2021Q2 spxc Borrowings Under Senior Credit Facilities
BorrowingsUnderSeniorCreditFacilities
54000000.0 USD
CY2020Q1 spxc Borrowings Under Senior Credit Facilities
BorrowingsUnderSeniorCreditFacilities
178700000 USD
CY2021Q2 spxc Repayments Under Senior Credit Facilities
RepaymentsUnderSeniorCreditFacilities
81600000 USD
CY2020Q1 spxc Repayments Under Senior Credit Facilities
RepaymentsUnderSeniorCreditFacilities
88700000 USD
CY2021Q2 spxc Borrowing Under Trade Receivables Agreement
BorrowingUnderTradeReceivablesAgreement
54000000.0 USD
CY2020Q1 spxc Borrowing Under Trade Receivables Agreement
BorrowingUnderTradeReceivablesAgreement
55000000.0 USD
CY2021Q2 spxc Repayments Under Trade Receivables Agreement
RepaymentsUnderTradeReceivablesAgreement
48000000.0 USD
CY2020Q1 spxc Repayments Under Trade Receivables Agreement
RepaymentsUnderTradeReceivablesAgreement
27000000.0 USD
CY2021Q2 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
200000 USD
CY2020Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-700000 USD
CY2021Q2 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
0 USD
CY2020Q1 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
1500000 USD
CY2021Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4200000 USD
CY2020Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2800000 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-25600000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
113000000.0 USD
CY2021Q2 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
0 USD
CY2020Q1 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
0 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-25600000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
113000000.0 USD
CY2021Q2 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3100000 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
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
38600000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
108400000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
68300000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
54700000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
106900000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
163100000 USD
CY2021Q2 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, 2020. 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.
CY2021Q2 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 2021 are April 3, July 3 and October 2, compared to the respective March 28, June 27 and September 26, 2020 dates. We had five more days in the first quarter of 2021 and will have six fewer days in the fourth quarter of 2021 than in the respective 2020 periods. It is not practicable to estimate the impact of the five additional days on our consolidated operating results for the three months ended April 3, 2021, when compared to the consolidated operating results for the 2020 respective period.
CY2021Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
226600000 USD
CY2021Q2 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:115%">Reclassification of Prior Year Amounts</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Certain prior year amounts have been reclassified to conform to the current year presentation, with the amounts related to the inclusion of Heat Transfer within discontinued operations.</span></div>
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
398500000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
398500000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
367400000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
367400000 USD
CY2020Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
260700000 USD
CY2020Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.38
CY2021Q2 spxc Increase Decreasein Accounts Receivable Net
IncreaseDecreaseinAccountsReceivableNet
-34100000 USD
CY2021Q2 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
75800000 USD
CY2020Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
81100000 USD
CY2021Q2 spxc Increase Decreasein Contractwith Customer Asset Net Current
IncreaseDecreaseinContractwithCustomerAssetNetCurrent
-5300000 USD
CY2021Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
106700000 USD
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
103500000 USD
CY2021Q2 spxc Increase Decreasein Contractwith Customer Liability Current
IncreaseDecreaseinContractwithCustomerLiabilityCurrent
-3200000 USD
CY2021Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
3200000 USD
CY2020Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
3400000 USD
CY2021Q2 spxc Increase Decreasein Contractwith Customer Liability Noncurrent
IncreaseDecreaseinContractwithCustomerLiabilityNoncurrent
200000 USD
CY2021Q2 spxc Contractwith Customers Net
ContractwithCustomersNet
192500000 USD
CY2020Q4 spxc Contractwith Customers Net
ContractwithCustomersNet
234900000 USD
CY2021Q2 spxc Increase Decreasein Contractwith Customers Net
IncreaseDecreaseinContractwithCustomersNet
-42400000 USD
CY2021Q2 spxc Increase Decreasein Contractwith Customers Net
IncreaseDecreaseinContractwithCustomersNet
-42400000 USD
CY2021Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
46300000 USD
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
100700000 USD
CY2021Q2 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
15 country
CY2021Q2 spxc Number Of Countries In Which Entity Sells Its Products And Services
NumberOfCountriesInWhichEntitySellsItsProductsAndServices
100 country
CY2021Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
31700000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
32300000 USD
CY2021Q2 spxc Special Charges
SpecialCharges
700000 USD
CY2020Q1 spxc Special Charges
SpecialCharges
300000 USD
CY2020Q4 spxc Restructuring And Integration Reserves
RestructuringAndIntegrationReserves
1500000 USD
CY2019Q4 spxc Restructuring And Integration Reserves
RestructuringAndIntegrationReserves
1700000 USD
CY2021Q2 spxc Restructuring And Integration Reserves Period Expense
RestructuringAndIntegrationReservesPeriodExpense
700000 USD
CY2020Q1 spxc Restructuring And Integration Reserves Period Expense
RestructuringAndIntegrationReservesPeriodExpense
300000 USD
CY2021Q2 us-gaap Payments For Restructuring
PaymentsForRestructuring
500000 USD
CY2020Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
500000 USD
CY2021Q2 spxc Restructuring And Integration Reserves Translation And Other Adjustment
RestructuringAndIntegrationReservesTranslationAndOtherAdjustment
100000 USD
CY2020Q1 spxc Restructuring And Integration Reserves Translation And Other Adjustment
RestructuringAndIntegrationReservesTranslationAndOtherAdjustment
200000 USD
CY2021Q2 spxc Restructuring And Integration Reserves
RestructuringAndIntegrationReserves
1600000 USD
CY2020Q1 spxc Restructuring And Integration Reserves
RestructuringAndIntegrationReserves
1300000 USD
CY2021Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
57100000 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
52900000 USD
CY2021Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
22200000 USD
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
22300000 USD
CY2021Q2 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
105100000 USD
CY2020Q4 us-gaap Inventory Raw Materials And Purchased Parts Net Of Reserves
InventoryRawMaterialsAndPurchasedPartsNetOfReserves
101500000 USD
CY2021Q2 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
184400000 USD
CY2020Q4 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
176700000 USD
CY2021Q2 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
14700000 USD
CY2020Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
14700000 USD
CY2021Q2 us-gaap Inventory Net
InventoryNet
169700000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
162000000.0 USD
CY2021Q2 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.36
CY2020Q4 us-gaap Goodwill Gross
GoodwillGross
975000000.0 USD
CY2021Q2 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
2800000 USD
CY2021Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2021Q2 spxc Gross Goodwill Related To Foreign Currency Translation And Other
GrossGoodwillRelatedToForeignCurrencyTranslationAndOther
-5400000 USD
CY2021Q2 us-gaap Goodwill Gross
GoodwillGross
972400000 USD
CY2020Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
475100000 USD
CY2021Q2 spxc Accumulated Impairments Related To Foreign Currency Translation And Other Adjustments
AccumulatedImpairmentsRelatedToForeignCurrencyTranslationAndOtherAdjustments
-2900000 USD
CY2021Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
472200000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
499900000 USD
CY2021Q2 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
2800000 USD
CY2021Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2021Q2 spxc Goodwill Related To Foreign Currency Translation And Other
GoodwillRelatedToForeignCurrencyTranslationAndOther
-2500000 USD
CY2021Q2 us-gaap Goodwill
Goodwill
500200000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
180800000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
43900000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
136900000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
181100000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
40000000.0 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
141100000 USD
CY2021Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
344200000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
43900000 USD
CY2021Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
300300000 USD
CY2020Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
345000000.0 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
40000000.0 USD
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
305000000.0 USD
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
38400000 USD
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
34800000 USD
CY2021Q2 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
0 USD
CY2020Q1 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
0 USD
CY2021Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
3900000 USD
CY2020Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2900000 USD
CY2021Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
3900000 USD
CY2020Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
3500000 USD
CY2021Q2 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
0 USD
CY2020Q1 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
100000 USD
CY2021Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
38400000 USD
CY2020Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
34100000 USD
CY2021Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
13000000.0 USD
CY2020Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
11900000 USD
CY2021Q2 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
25400000 USD
CY2020Q1 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
22200000 USD
CY2020Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
412400000 USD
CY2021Q2 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
108400000 USD
CY2021Q2 us-gaap Repayments Of Debt
RepaymentsOfDebt
129800000 USD
CY2021Q2 us-gaap Debt Instrument Increase Decrease Other Net
DebtInstrumentIncreaseDecreaseOtherNet
500000 USD
CY2021Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
391500000 USD
CY2020Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
101200000 USD
CY2021Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
100000000.0 USD
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
7200000 USD
CY2021Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
8900000 USD
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
304000000.0 USD
CY2021Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
282600000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45132000 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44309000 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1187000 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1218000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46319000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45527000 shares
CY2021Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
500000 USD
CY2020Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
900000 USD
CY2021Q2 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
3900000 USD
CY2021Q2 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
1200000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2700000 USD
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
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
34600000 USD
CY2021Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
563300000 USD
CY2020Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
575700000 USD
CY2021Q2 us-gaap Liability For Asbestos And Environmental Claims Gross
LiabilityForAsbestosAndEnvironmentalClaimsGross
523700000 USD
CY2020Q4 us-gaap Liability For Asbestos And Environmental Claims Gross
LiabilityForAsbestosAndEnvironmentalClaimsGross
535200000 USD
CY2021Q2 us-gaap Insurance Recoveries
InsuranceRecoveries
8000000.0 USD
CY2020Q1 us-gaap Insurance Recoveries
InsuranceRecoveries
7800000 USD
CY2021Q2 us-gaap Liability For Asbestos And Environmental Claims Net Payment For Claims
LiabilityForAsbestosAndEnvironmentalClaimsNetPaymentForClaims
3800000 USD
CY2020Q1 us-gaap Liability For Asbestos And Environmental Claims Net Payment For Claims
LiabilityForAsbestosAndEnvironmentalClaimsNetPaymentForClaims
4200000 USD
CY2020Q3 spxc Number Of Disputes
NumberOfDisputes
9 dispute
CY2021Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
13600000 USD
CY2021Q2 spxc Unrecognized Tax Benefits Net
UnrecognizedTaxBenefitsNet
11000000.0 USD
CY2021Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
7000000.0 USD
CY2021Q2 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
3700000 USD
CY2021Q2 spxc Unrecognized Tax Benefits Interest On Income Taxes Accrued Net
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccruedNet
2900000 USD
CY2021Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
0 USD
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7000000.0 USD
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.202
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6000000.0 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
28300000 USD
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.212
CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-900000 USD
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-1200000 USD
CY2021Q2 us-gaap Equity Securities Fv Ni Realized Gain
EquitySecuritiesFvNiRealizedGain
5200000 USD
CY2021Q2 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
32200000 USD
CY2020Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
27000000.0 USD

Files In Submission

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0000088205-21-000015-index.html Edgar Link pending
0000088205-21-000015.txt Edgar Link pending
0000088205-21-000015-xbrl.zip Edgar Link pending
exhibit311q12021.htm Edgar Link pending
exhibit312q12021.htm Edgar Link pending
exhibit321q12021.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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spxc-20210403_cal.xml Edgar Link unprocessable
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