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Earnings (Loss) per Share
 9 Months Ended
Oct. 01, 2023
Earnings (Loss) per Share [Abstract]  
Earnings (Loss) per Share

Note 4.  Earnings (Loss) per Share (EPS)


Basic earnings (loss) per share are based upon the weighted average number of common shares outstanding during the period. Diluted earnings (loss) 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 (loss) per share:

  
Three Months Ended
    
Nine Months Ended
  
(in millions of dollars, except per share data)
  
Oct. 1,
2023
    
Oct. 2,
2022
    
Oct. 1,
2023
    
Oct. 2,
2022
  
                         
Net income (loss) attributable to Minerals Technologies Inc.
  
$
(19.2
)
  
$
13.4
    
$
44.4
    
$
102.4
  
                                 
Weighted average shares outstanding
    
32.5
      
32.5
      
32.5
      
32.8
  
Dilutive effect of stock options and deferred restricted stock units
    
—
      
0.1
      
0.1
      
0.1
  
Weighted average shares outstanding, adjusted
    
32.5
      
32.6
      
32.6
      
32.9
  
                                 
Basic earnings (loss) per share attributable to Minerals Technologies Inc.
  
$
(0.59
)
  
$
0.41
    
$
1.37
    
$
3.12
  
                                 
Diluted earnings (loss) per share attributable to Minerals Technologies Inc.
  
$
(0.59
)
  
$
0.41
    
$
1.36
    
$
3.11
  


Of the options outstanding of 1,604,217 and 1,460,734 for the three-month and nine-month periods ended October 1, 2023 and October 2, 2022, respectively, options to purchase 1,285,619 shares and 1,106,596 shares of common stock for the three-month and nine-month periods ending October 1, 2023 and October 2, 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.