2024 Q1 Form 10-K Financial Statement

#000008820524000008 Filed on February 23, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $465.2M $469.4M $1.741B
YoY Change 26.69% 19.19%
Cost Of Revenue $282.3M $281.5M $1.071B
YoY Change 18.58% 14.32%
Gross Profit $182.9M $187.9M $670.0M
YoY Change 41.17% 27.89%
Gross Profit Margin 39.32% 40.03% 38.48%
Selling, General & Admin $102.9M $103.5M $394.4M
YoY Change 16.16% 10.88%
% of Gross Profit 56.26% 55.08% 58.87%
Research & Development $43.20M
YoY Change 10.49%
% of Gross Profit 6.45%
Depreciation & Amortization $21.00M $16.80M $63.20M
YoY Change 48.67% 36.21%
% of Gross Profit 11.48% 8.94% 9.43%
Operating Expenses $102.9M $124.0M $437.6M
YoY Change 39.17% 10.84%
Operating Profit $64.60M $63.90M $221.9M
YoY Change 71.31% 335.1%
Interest Expense $9.800M -$9.000M $27.20M
YoY Change -446.15% 192.47%
% of Operating Profit 15.17% -14.08% 12.26%
Other Income/Expense, Net -$4.000M -$12.40M -$10.10M
YoY Change -49.59% -33.55%
Pretax Income $51.10M $41.70M $186.3M
YoY Change 317.0% 587.45%
Income Tax $1.900M $10.10M $41.60M
% Of Pretax Income 3.72% 24.22% 22.33%
Net Earnings $49.00M $31.50M $89.90M
YoY Change 916.13% 44850.0%
Net Earnings / Revenue 10.53% 6.71% 5.16%
Basic Earnings Per Share $1.07 $1.97
Diluted Earnings Per Share $1.05 $0.67 $1.93
COMMON SHARES
Basic Shares Outstanding 45.69M shares 45.65M shares 45.55M shares
Diluted Shares Outstanding 46.68M shares 46.61M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $99.40M $99.40M
YoY Change -45.8% -32.75%
Cash & Equivalents $100.5M $99.40M $99.40M
Short-Term Investments
Other Short-Term Assets $34.40M $37.10M $37.10M
YoY Change -60.02% 6.0%
Inventory $295.1M $276.7M $276.7M
Prepaid Expenses
Receivables $317.6M $279.8M $296.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $779.6M $709.6M $709.6M
YoY Change -15.29% -1.59%
LONG-TERM ASSETS
Property, Plant & Equipment $140.5M $140.5M
YoY Change 31.31% -10.05%
Goodwill $844.5M $704.8M
YoY Change 57.11%
Intangibles $760.6M $680.8M
YoY Change 68.64%
Long-Term Investments
YoY Change
Other Assets $184.3M $188.9M $204.0M
YoY Change -69.52% 3.71%
Total Long-Term Assets $2.020B $1.730B $1.730B
YoY Change 5.19% 43.01%
TOTAL ASSETS
Total Short-Term Assets $779.6M $709.6M $709.6M
Total Long-Term Assets $2.020B $1.730B $1.730B
Total Assets $2.800B $2.440B $2.440B
YoY Change -1.72% 26.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $151.4M $118.7M $118.7M
YoY Change -5.19% -4.66%
Accrued Expenses $126.2M $168.5M $168.5M
YoY Change -13.41% 13.85%
Deferred Revenue $72.90M $73.50M
YoY Change 61.54%
Short-Term Debt $317.0M $17.90M $17.90M
YoY Change 842.11% 894.44%
Long-Term Debt Due $20.80M $17.30M $17.30M
YoY Change 4225.0% 765.0%
Total Short-Term Liabilities $694.8M $401.2M $401.2M
YoY Change 7.16% 20.19%
LONG-TERM LIABILITIES
Long-Term Debt $523.1M $523.1M
YoY Change 113.86% 115.27%
Other Long-Term Liabilities $202.6M $204.1M $243.8M
YoY Change -71.92% 1.54%
Total Long-Term Liabilities $867.3M $843.9M $766.9M
YoY Change -17.94% 58.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $694.8M $401.2M $401.2M
Total Long-Term Liabilities $867.3M $843.9M $766.9M
Total Liabilities $1.562B $1.245B $1.245B
YoY Change -11.24% 46.19%
SHAREHOLDERS EQUITY
Retained Earnings $87.30M $38.30M
YoY Change -257.61%
Common Stock $1.352B $1.354B
YoY Change 1.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.238B $1.195B $1.195B
YoY Change
Total Liabilities & Shareholders Equity $2.800B $2.440B $2.440B
YoY Change -1.72% 26.35%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $49.00M $31.50M $89.90M
YoY Change 916.13% 44850.0%
Depreciation, Depletion And Amortization $21.00M $16.80M $63.20M
YoY Change 48.67% 36.21%
Cash From Operating Activities $10.50M $126.5M $208.5M
YoY Change -1003.57% -252.41%
INVESTING ACTIVITIES
Capital Expenditures $7.400M $23.90M
YoY Change -285.0% 50.31%
Acquisitions $294.1M $547.0M
YoY Change 1267.5%
Other Investing Activities -$1.600M -$546.3M
YoY Change -136.36% 988.25%
Cash From Investing Activities -$303.9M -$9.000M -$570.2M
YoY Change -2350.0% 762.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $292.7M -115.5M $309.6M
YoY Change -1962.9% -895.89%
NET CHANGE
Cash From Operating Activities $10.50M 126.5M $208.5M
Cash From Investing Activities -$303.9M -9.000M -$570.2M
Cash From Financing Activities $292.7M -115.5M $309.6M
Net Change In Cash $600.0K 2.000M -$52.20M
YoY Change -127.03% -78.15%
FREE CASH FLOW
Cash From Operating Activities $10.50M $126.5M $208.5M
Capital Expenditures $7.400M $23.90M
Free Cash Flow $119.1M $184.6M
YoY Change -1291.0% -220.89%

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CY2023Q4 spxc Cash And Cash Equivalents Included In Assets Of Abandoned Entities
CashAndCashEquivalentsIncludedInAssetsOfAbandonedEntities
5500000 usd
CY2022Q4 spxc Cash And Cash Equivalents Included In Assets Of Abandoned Entities
CashAndCashEquivalentsIncludedInAssetsOfAbandonedEntities
9300000 usd
CY2021Q4 spxc Cash And Cash Equivalents Included In Assets Of Abandoned Entities
CashAndCashEquivalentsIncludedInAssetsOfAbandonedEntities
7800000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
104900000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
157100000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
396000000.0 usd
CY2022Q4 spxc Number Of Subsidiaries Divested
NumberOfSubsidiariesDivested
3 subsidiary
CY2023 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-900000 usd
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1100000 usd
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-900000 usd
CY2023Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
3100000 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
1200000 usd
CY2023 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
100000 usd
CY2022 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
100000 usd
CY2021 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1300000 usd
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
43200000 usd
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
39100000 usd
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
30700000 usd
CY2023 spxc Depreciation Expense And Amortization Of Capital Leases
DepreciationExpenseAndAmortizationOfCapitalLeases
19200000 usd
CY2022 spxc Depreciation Expense And Amortization Of Capital Leases
DepreciationExpenseAndAmortizationOfCapitalLeases
17800000 usd
CY2021 spxc Depreciation Expense And Amortization Of Capital Leases
DepreciationExpenseAndAmortizationOfCapitalLeases
19400000 usd
CY2021 us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
0 usd
CY2023 us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
0 usd
CY2022 us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
0 usd
CY2023Q4 us-gaap Life Insurance Corporate Or Bank Owned Amount
LifeInsuranceCorporateOrBankOwnedAmount
76700000 usd
CY2022Q4 us-gaap Life Insurance Corporate Or Bank Owned Amount
LifeInsuranceCorporateOrBankOwnedAmount
77000000.0 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of our consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. We evaluate these estimates and judgments on an ongoing basis and base our estimates on experience, current and expected future conditions, third-party evaluations and various other assumptions that we believe are reasonable under the circumstances. The results of these estimates form the basis for making judgments about the carrying values of assets and liabilities as well as identifying and assessing the accounting treatment with respect to commitments and contingencies. Actual results may differ from the estimates and assumptions used in the consolidated financial statements and related notes.</span></div>
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
10400000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
10400000 usd
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
11500000 usd
CY2023 spxc Accounts Receivable Allowance For Credit Loss Acquisitions
AccountsReceivableAllowanceForCreditLossAcquisitions
200000 usd
CY2022 spxc Accounts Receivable Allowance For Credit Loss Acquisitions
AccountsReceivableAllowanceForCreditLossAcquisitions
100000 usd
CY2021 spxc Accounts Receivable Allowance For Credit Loss Acquisitions
AccountsReceivableAllowanceForCreditLossAcquisitions
0 usd
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
18200000 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
17900000 usd
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
14900000 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
17300000 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
18000000.0 usd
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
16000000.0 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
11500000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
10400000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
10400000 usd
CY2023Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
73300000 usd
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
58300000 usd
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
16400000 usd
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
12900000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
78800000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
76800000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
168500000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
148000000.0 usd
CY2022 us-gaap Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Basic
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareBasic
-0.08
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
34700000 usd
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
34800000 usd
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
35300000 usd
CY2023 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
900000 usd
CY2022 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
400000 usd
CY2021 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
100000 usd
CY2023 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
16900000 usd
CY2022 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
10600000 usd
CY2021 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
8500000 usd
CY2023 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
14600000 usd
CY2022 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
10800000 usd
CY2021 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
9100000 usd
CY2023 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
0 usd
CY2022 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-300000 usd
CY2021 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
0 usd
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
37900000 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
34700000 usd
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
34800000 usd
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
16400000 usd
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
12900000 usd
CY2021Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
11800000 usd
CY2023Q4 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
21500000 usd
CY2022Q4 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
21800000 usd
CY2021Q4 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
23000000.0 usd
CY2023 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Parent Guarantees and Bonds Associated with Balcke Dürr</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> — In connection with the sale of Balcke Dürr in 2016, we became contingently obligated under existing parent company guarantees and bank and surety bonds which totaled approximately Eur</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">o 79.0 and Euro 79.0, resp</span>ectively, at the time of sale. Since the sale of Balcke Dürr, the guarantees have expired and, as of the third quarter of 2021, all the bonds have been returned. As the guarantees have expired and the bonds have been returned, we no longer have assets or liabilities recorded for this matter.
CY2023 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1788400000 usd
CY2022 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1564700000 usd
CY2023 us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
150400000 usd
CY2022 us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
-3800000 usd
CY2023 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
95600000 usd
CY2022 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-23400000 usd
CY2023 us-gaap Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Basic
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareBasic
3.30
CY2023 us-gaap Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Diluted
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareDiluted
3.23
CY2022 us-gaap Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Diluted
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareDiluted
-0.08
CY2023 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
2.10
CY2022 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
-0.52
CY2023 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
2.05
CY2022 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
-0.52
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
152400000 usd
CY2023Q4 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.69
CY2023Q4 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.88
CY2023Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2023Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P24M
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1741200000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1741200000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1460900000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1460900000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1219500000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1219500000 usd
CY2023Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
275400000 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
259900000 usd
CY2023 spxc Increase Decreasein Accounts Receivable Net
IncreaseDecreaseinAccountsReceivableNet
15500000 usd
CY2023Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
16600000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
23900000 usd
CY2023 spxc Increase Decreasein Contractwith Customer Asset Net Current
IncreaseDecreaseinContractwithCustomerAssetNetCurrent
-7300000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
73500000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
52800000 usd
CY2023 spxc Increase Decreasein Contractwith Customer Liability Current
IncreaseDecreaseinContractwithCustomerLiabilityCurrent
20700000 usd
CY2023Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
4000000.0 usd
CY2022Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
4700000 usd
CY2023 spxc Increase Decreasein Contractwith Customer Liability Noncurrent
IncreaseDecreaseinContractwithCustomerLiabilityNoncurrent
-700000 usd
CY2023Q4 spxc Contractwith Customers Net
ContractwithCustomersNet
214500000 usd
CY2022Q4 spxc Contractwith Customers Net
ContractwithCustomersNet
226300000 usd
CY2023 spxc Increase Decreasein Contractwith Customers Net
IncreaseDecreaseinContractwithCustomersNet
-11800000 usd
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
37400000 usd
CY2023 spxc Lessee Lease Termination Period
LesseeLeaseTerminationPeriod
P1Y
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
15700000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
15300000 usd
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
400000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
400000 usd
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
500000 usd
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
500000 usd
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
0 usd
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
0 usd
CY2023 spxc Finance Lease Cost
FinanceLeaseCost
500000 usd
CY2022 spxc Finance Lease Cost
FinanceLeaseCost
500000 usd
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
3500000 usd
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
3700000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
12100000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
11400000 usd
CY2023 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
0 usd
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
0 usd
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
500000 usd
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
400000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6300000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
16400000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
300000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
42400000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
46300000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
11300000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
10100000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
28500000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
33800000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
39800000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
43900000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
500000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
700000 usd
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
300000 usd
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
500000 usd
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
200000 usd
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
200000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
500000 usd
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
700000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y6M
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y
CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y10M24D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M12D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.032
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.030
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.039
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.029
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
12400000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Next Rolling Twelve Months
FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths
300000 usd
CY2023Q4 spxc Lease Liability Payments Due In Next Rolling Twelve Months
LeaseLiabilityPaymentsDueInNextRollingTwelveMonths
12700000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
7800000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Two
FinanceLeaseLiabilityPaymentsDueInRollingYearTwo
100000 usd
CY2023Q4 spxc Lease Liability Payments Due In Rolling Year Two
LeaseLiabilityPaymentsDueInRollingYearTwo
7900000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
6100000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Three
FinanceLeaseLiabilityPaymentsDueInRollingYearThree
100000 usd
CY2023Q4 spxc Lease Liability Payments Due In Rolling Year Three
LeaseLiabilityPaymentsDueInRollingYearThree
6200000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
5500000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Four
FinanceLeaseLiabilityPaymentsDueInRollingYearFour
0 usd
CY2023Q4 spxc Lease Liability Payments Due In Rolling Year Four
LeaseLiabilityPaymentsDueInRollingYearFour
5500000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
4800000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Five
FinanceLeaseLiabilityPaymentsDueInRollingYearFive
0 usd
CY2023Q4 spxc Lease Liability Payments Due In Rolling Year Five
LeaseLiabilityPaymentsDueInRollingYearFive
4800000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
7000000.0 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling After Year Five
FinanceLeaseLiabilityPaymentsDueInRollingAfterYearFive
0 usd
CY2023Q4 spxc Lease Liability Payments Due In Rolling After Year Five
LeaseLiabilityPaymentsDueInRollingAfterYearFive
7000000.0 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
43600000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
500000 usd
CY2023Q4 spxc Lease Liability Payments Due
LeaseLiabilityPaymentsDue
44100000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3800000 usd
CY2023Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
0 usd
CY2023Q4 spxc Lease Liability Undiscounted Excess Amount
LeaseLiabilityUndiscountedExcessAmount
3800000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
39800000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
500000 usd
CY2023Q4 spxc Lease Liability
LeaseLiability
40300000 usd
CY2023Q4 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
15 country
CY2023Q4 spxc Number Of Countries In Which Entity Sells Its Products And Services
NumberOfCountriesInWhichEntitySellsItsProductsAndServices
100 country
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
43900000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
28500000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
21600000 usd
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
221900000 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
51000000.0 usd
CY2021 us-gaap Operating Income Loss
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<div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Concentrations of Credit Risk</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject us to significant concentrations of credit risk consist of cash and equivalents, trade accounts receivable, COLI policies, and interest rate swaps and FX forward contracts. These financial instruments, other than trade accounts receivable, are placed with high-quality financial institutions throughout the world. We periodically evaluate the credit standing of these financial institutions.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We maintain cash levels in bank accounts that, at times, may exceed federally-insured limits. We have not experienced significant loss, and believe we are not exposed to significant risk of loss, in these accounts.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have credit loss exposure in the event of nonperformance by counterparties to the above financial instruments, but have no other off-balance-sheet credit risk of accounting loss. We anticipate, however, that counterparties will be able to fully satisfy their obligations under the contracts. We do not obtain collateral or other security to support financial instruments subject to credit risk, but we do monitor the credit standing of counterparties.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Concentrations of credit risk arising from trade accounts receivable are due to selling to customers in a particular industry. Credit risks are mitigated by performing ongoing credit evaluations of our customers’ financial conditions and obtaining collateral, advance payments, or other security when appropriate. No one customer, or group of customers that to our knowledge are under common control, accounted for more than 10% of our revenues for any period presented.</span></div>
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