Earnings per Share

3 Months Ended

Apr. 02, 2023

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
(in millions, except per share data)	Apr. 2, 2023		Apr. 3, 2022
Net income attributable to Minerals Technologies Inc.	$	37.0	$	44.1
Weighted average shares outstanding		32.5		33.1
Dilutive effect of stock options and deferred restricted stock units		—		0.1
Weighted average shares outstanding, adjusted		32.5		33.2
Basic earnings per share attributable to Minerals Technologies Inc.	$	1.14	$	1.33
Diluted earnings per share attributable to Minerals Technologies Inc.	$	1.14	$	1.33

Of the options outstanding of 1,608,613 and 1,536,887 for the three-month periods ended April 2, 2023 and April 3, 2022, respectively, options to purchase 1,002,344 shares and 732,874 shares of common stock for the three-month periods ending April 2, 2023 and April 3, 2022, 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.