Earnings Per Share (EPS)

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

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				Nine Months Ended
Basic EPS(in millions, except per share data)			Sept. 30, 2012		Oct. 2, 2011		Sept. 30, 2012		Oct. 2, 2011
	Net income attributable to MTI	$	18.6	$	15.7	$	56.4	$	47.9
Weighted average shares outstanding			17.6		17.9		17.7		18.1
	Basic earnings  per share attributable to MTI	$	1.06	$	0.88	$	3.19	$	2.64

			Three Months Ended				Nine Months Ended
Diluted EPS(in millions, except per share data)				Sept. 30, 2012		Oct. 2, 2011		Sept. 30, 2012		Oct. 2, 2011
	Net income attributable to MTI		$	18.6	$	15.7	$	56.4	$	47.9
	Weighted average shares outstanding			17.6		17.9		17.7		18.1
	Diluted effect of stock options and stock units			0.1		0.1		0.1		0.1
		Weighted average shares outstanding, adjusted		17.7		18.0		17.8		18.2
	Diluted earnings per share attributable to MTI		$	1.05	$	0.87	$	3.17	$	2.62

The weighted average diluted common shares outstanding for the three-month and nine-month periods ended September 30, 2012 and October 2, 2011 excludes the dilutive effect of 113,000 options and 603,869 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.