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Earnings per Share
 3 Months Ended
Apr. 04, 2021
Earnings per Share [Abstract]  
Earnings per Share

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
  
(in millions, except per share data)
  
Apr. 4,
2021
    
Mar. 29,
2020
  
             
Net income attributable to Minerals Technologies Inc.
  
$
39.9
    
$
38.6
  
                 
Weighted average shares outstanding
    
33.8
      
34.4
  
Dilutive effect of stock options and stock units
    
0.2
      
—
  
Weighted average shares outstanding, adjusted
    
34.0
      
34.4
  
                 
Basic earnings per share attributable to Minerals Technologies Inc.
  
$
1.18
    
$
1.12
  
                 
Diluted earnings per share attributable to Minerals Technologies Inc.
  
$
1.17
    
$
1.12
  


Of the options outstanding of 1,499,373 and 1,492,819 for the three-month periods ended April 4, 2021 and March 29, 2020, respectively, options to purchase 558,734 shares and 1,181,945 shares of common stock for the three-month periods ending April 4, 2021 and March 29, 2020, 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.