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Earnings per Share (EPS)
 9 Months Ended
Sep. 27, 2020
Earnings per Share [Abstract]  
Earnings per Share (EPS)

Note 4.  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
    
Nine Months Ended
  
(in millions, except per share data)
  
Sep. 27,
2020
    
Sep. 29,
2019
    
Sep. 27,
2020
    
Sep. 29,
2019
  
Net income attributable to Minerals Technologies Inc.
  
$
28.3
    
$
38.0
    
$
81.3
    
$
103.7
  
                                 
Weighted average shares outstanding
    
34.1
      
35.0
      
34.2
      
35.1
  
Dilutive effect of stock options and stock units
    
—
      
0.1
      
—
      
0.1
  
Weighted average shares outstanding, adjusted
    
34.1
      
35.1
      
34.2
      
35.2
  
                                 
Basic earnings per share attributable to Minerals Technologies Inc.
  
$
0.83
    
$
1.09
    
$
2.38
    
$
2.95
  
                                 
Diluted earnings per share attributable to Minerals Technologies Inc.
  
$
0.83
    
$
1.08
    
$
2.38
    
$
2.95
  


Options to purchase 1,054,428 shares and 456,693 shares of common stock for the three-month and nine-month periods ended September 27, 2020 and September 29, 2019, 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.