CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions |
3 Months Ended |
9 Months Ended |
Oct. 02, 2016 |
Sep. 27, 2015 |
Oct. 02, 2016 |
Sep. 27, 2015 |
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) [Abstract] |
|
|
|
|
| Product sales |
$ 379.7
|
$ 410.1
|
$ 1,171.1
|
$ 1,218.8
|
| Service revenue |
19.8
|
40.9
|
65.6
|
148.8
|
| Total net sales |
399.5
|
451.0
|
1,236.7
|
1,367.6
|
| Cost of goods sold |
272.0
|
302.4
|
840.8
|
895.8
|
| Cost of service revenue |
12.3
|
29.7
|
46.9
|
110.2
|
| Total cost of sales |
284.3
|
332.1
|
887.7
|
1,006.0
|
| Production margin |
115.2
|
118.9
|
349.0
|
361.6
|
| Marketing and administrative expenses |
42.4
|
49.9
|
134.2
|
145.4
|
| Research and development expenses |
5.9
|
6.2
|
17.9
|
17.8
|
| Acquisition related transaction and integration costs |
1.9
|
2.4
|
5.1
|
8.5
|
| Restructuring and other items, net |
(2.3)
|
10.5
|
27.4
|
27.3
|
| Income from operations |
67.3
|
49.9
|
164.4
|
162.6
|
| Interest expense, net |
(13.4)
|
(14.5)
|
(41.4)
|
(45.5)
|
| Extinguishment of debt costs and fees |
0.0
|
0.0
|
0.0
|
(4.5)
|
| Other non-operating income (deductions), net |
(0.6)
|
2.8
|
1.7
|
5.7
|
| Total non-operating deductions, net |
(14.0)
|
(11.7)
|
(39.7)
|
(44.3)
|
| Income from continuing operations before provision for taxes and equity in earnings |
53.3
|
38.2
|
124.7
|
118.3
|
| Provision for taxes on income |
11.5
|
8.4
|
26.7
|
25.8
|
| Equity in earnings of affiliates, net of tax |
0.7
|
0.5
|
1.6
|
1.4
|
| Consolidated net income |
42.5
|
30.3
|
99.6
|
93.9
|
| Less: Net income attributable to non-controlling interests |
0.9
|
1.1
|
2.9
|
2.9
|
| Net income attributable to Minerals Technologies Inc. (MTI) |
$ 41.6
|
$ 29.2
|
$ 96.7
|
$ 91.0
|
| Basic: |
|
|
|
|
| Income from continuing operations attributable to MTI (in dollars per share) |
$ 1.19
|
$ 0.84
|
$ 2.78
|
$ 2.62
|
| Diluted: |
|
|
|
|
| Income from continuing operations attributable to MTI (in dollars per share) |
1.18
|
0.83
|
2.75
|
2.60
|
| Cash dividends declared per common share (in dollars per share) |
$ 0.05
|
$ 0.05
|
$ 0.15
|
$ 0.15
|
| Shares used in computation of earnings per share: |
|
|
|
|
| Basic (in shares) |
34.9
|
34.7
|
34.8
|
34.7
|
| Diluted (in shares) |
35.3
|
35.0
|
35.1
|
35.0
|