XML 15 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
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