Earnings Per Share (EPS)

6 Months Ended

Jul. 01, 2012

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 dilutive potential common shares outstanding.

The following table sets forth the computation of basic and diluted earnings per share:

	Three Months Ended				Six Months Ended
Basic EPS (in millions, except per share data)		July 1, 2012		July 3, 2011		July 1, 2012		July 3, 2011
Net income attributable to MTI	$	19.7	$	16.4	$	37.7	$	32.2
Weighted average shares outstanding		17.7		18.2		17.7		18.2
Basic earnings per share attributable to MTI	$	1.11	$	0.90	$	2.13	$	1.77

		Three Months Ended				Six Months Ended
Diluted EPS (in millions, except per share data)			July 1, 2012		July 3, 2011		July 1, 2012		July 3, 2011
Net income attributable to MTI		$	19.7	$	16.4	$	37.7	$	32.2
Weighted average shares outstanding			17.7		18.2		17.7		18.2
Dilutive effect of stock options and stock units			0.1		0.1		0.1		0.2
	Weighted average shares outstanding, adjusted		17.8		18.3		17.8		18.4
Diluted earnings  per share attributable to MTI		$	1.11	$	0.90	$	2.12	$	1.75

     The weighted average diluted common shares outstanding for the three-month and six-month periods ended July 1, 2012 and July 3, 2011 excludes the dilutive effect of 305,131 options and 123,363 options, respectively, as such options had an exercise price in excess of the average market value of the Company's common stock during such periods.