Comprehensive Income (Tables)

6 Months Ended

Jul. 04, 2021

Comprehensive Income [Abstract]

Reclassifications Out of Accumulated Other Comprehensive Loss

The following table summarizes the amounts reclassified out of accumulated other comprehensive loss attributable to the Company:

	Three Months Ended						Six Months Ended
(millions of dollars)	Jul. 4, 2021			Jun. 28, 2020			Jul. 4, 2021			Jun. 28, 2020
Amortization of pension items:
Pre-tax amount	$	5.7		$	7.0		$	9.0		$	9.7
Tax		(1.4	)		(1.7	)		(2.2	)		(2.3	)
Net of tax	$	4.3		$	5.3		$	6.8		$	7.4

Accumulated Other Comprehensive Loss, Net of Related Tax

The major components of accumulated other comprehensive loss, net of related tax, attributable to MTI are as follows:

(millions of dollars)	Foreign Currency Translation Adjustment			Unrecognized Pension Costs			Net Gain (Loss) on Derivative Instruments			Total
Balance as of December 31, 2020	$	(190.8	)	$	(114.9	)	$	(2.6	)	$	(308.3	)
Other comprehensive income (loss) before reclassifications		(26.7	)		—			3.9			(22.8	)
Amounts reclassified from AOCI		—			6.8			—			6.8
Net current period other comprehensive income (loss)		(26.7	)		6.8			3.9			(16.0	)
Balance as of July 4, 2021	$	(217.5	)	$	(108.1	)	$	1.3		$	(324.3	)