SPX FLOW, Inc. - 10-Q filing on 2016-11-02

RELATED PARTY TRANSACTIONS	9 Months Ended
RELATED PARTY TRANSACTIONS	Oct. 01, 2016
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Allocation of General Corporate Expenses The condensed combined statements of operations for the three and nine months ended September 26, 2015 include expenses for certain centralized functions and other programs provided and/or administered by the former Parent charged directly to business units of the Company. In addition, for purposes of preparing these condensed combined financial statements for periods prior to the Spin-Off on a “carve-out” basis, a portion of the former Parent's total corporate expenses have been allocated to the Company. A detailed description of the methodology used to allocate corporate-related costs is included in our consolidated and combined financial statements included in our 2015 Annual Report on Form 10-K. Related Party Interest We recorded interest income of $7.4 and $26.2 for the three and nine months ended September 26, 2015, respectively, associated with related party notes receivable outstanding during the periods, with the former Parent serving as the counterparty. These related party notes were transferred to SPX or canceled by the Company with a corresponding decrease to "Former parent company investment" of $669.7 during the third quarter of 2015. The related party notes receivable had a weighted-average interest rate of approximately 5.0% prior to their transfer to SPX or cancellation by the Company. We recorded interest expense of $0.0 and $28.4 for the three and nine months ended September 26, 2015, respectively, associated with related party notes payable outstanding during the periods, with the former Parent (and certain other of its affiliates that were not part of the Spin-Off) serving as counterparties. Related party notes payable of $600.5 and $390.8 were extinguished by way of capital contributions to the Company by the former Parent during the second and third quarters of 2015, respectively. The related party notes payable had a weighted-average interest rate of approximately 7.0% prior to their extinguishment.