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Earnings Per Share (EPS)
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share (EPS)
Note 3.  Earnings Per Share (EPS)

     Basic earnings per share are based upon the weighted average number of common shares outstanding during the period.  Diluted earnings per share are based upon the weighted average number of common shares outstanding during the period assuming the issuance of common shares for all potentially dilutive common shares outstanding.

The following table sets forth the computation of basic and diluted earnings per share:
 
Three Months Ended
Basic EPS
(in millions, except per share amounts)
March 31, 2013
April 1, 2012
 
 
 
 
 
 
 
 
 
 
Net income attributable to MTI
$
18.8
 
 
$
18.0
 
 
 
 
 
 
 
 
 
Weighted average shares outstanding  
 
35.0
 
 
 
35.4
 
 
 
 
 
 
 
 
 
Basic earnings per share attributable to MTI  
$
0.54
 
 
$
0.51
 

 
Three Months Ended
Diluted EPS
(in millions, except per share amounts)
March 31, 2013
April 1, 2012
 
 
 
 
 
 
 
 
 
 
Net income attributable to MTI
$
18.8
 
 
$
18.0
 
 
 
 
 
 
 
 
 
Weighted average shares outstanding  
 
35.0
 
 
 
35.4
 
Dilutive effect of stock options and stock units                                                                                                                    
 
0.3
 
 
 
0.2
 
           Weighted average shares outstanding , adjusted  
$
35.3
 
 
$
35.6
 
 
 
 
 
 
 
 
 
Diluted earnings per share attributable to MTI  
$
0.53
 
 
$
0.51
 
 
     Options to purchase 239,770 and 257,886 shares of common stock for the three-month periods ended March 31, 2013 and April 1, 2012, respectively, were not included in the computation of diluted earnings per share because they were anti-dilutive, as the exercise prices of the options were greater than the average market price of the common shares.