Comprehensive Income (Tables)

6 Months Ended

Jul. 02, 2023

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
(in millions of dollars)	Jul. 2, 2023			Jul. 3, 2022			Jul. 2, 2023			Jul. 3, 2022
Amortization of pension items:
Pre-tax amount	$	0.7		$	3.0		$	1.2		$	4.5
Tax		(0.3	)		(0.7	)		(0.4	)		(1.1	)
Net of tax	$	0.4		$	2.3		$	0.8		$	3.4

Accumulated Other Comprehensive Loss

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

(in millions of dollars)	Foreign Currency Translation Adjustment			Unrecognized Pension Costs			Net Gain (Loss) on Derivative Instruments			Total
Balance as of December 31, 2022	$	(345.7	)	$	(34.4	)	$	13.6		$	(366.5	)
Other comprehensive loss before reclassifications		(15.2	)		—			(1.9	)		(17.1	)
Amounts reclassified from AOCI		—			0.8			—			0.8
Net current period other comprehensive income (loss)		(15.2	)		0.8			(1.9	)		(16.3	)
Balance as of July 2, 2023	$	(360.9	)	$	(33.6	)	$	11.7		$	(382.8	)