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Earnings per Share
 9 Months Ended
Oct. 03, 2021
Earnings per Share [Abstract]  
Earnings per Share

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)
  
Oct. 3,
2021
    
Sep. 27,
2020
    
Oct. 3,
2021
    
Sep. 27,
2020
  
                         
Net income attributable to Minerals Technologies Inc.
  
$
41.4
    
$
28.3
    
$
123.2
    
$
81.3
  
                                 
Weighted average shares outstanding
    
33.5
      
34.1
      
33.7
      
34.2
  
Dilutive effect of stock options and stock units
    
0.3
      
—
      
0.2
      
—
  
Weighted average shares outstanding, adjusted
    
33.8
      
34.1
      
33.9
      
34.2
  
                                 
Basic earnings per share attributable to Minerals Technologies Inc.
  
$
1.24
    
$
0.83
    
$
3.66
    
$
2.38
  
                                 
Diluted earnings per share attributable to Minerals Technologies Inc.
  
$
1.22
    
$
0.83
    
$
3.63
    
$
2.38
  


Of the options outstanding of 1,409,110 and 1,439,677 for the three-month and nine-month periods ended October 3, 2021 and September 27, 2020, respectively, options to purchase 526,956 shares and 1,054,428 shares of common stock for the three-month and nine-month periods ending October 3, 2021 and September 27, 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.