Comprehensive Income (Tables)

9 Months Ended

Oct. 01, 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						Nine Months Ended
(in millions of dollars)	Oct. 1, 2023			Oct. 2, 2022			Oct. 1, 2023			Oct. 2, 2022
Amortization of pension items:
Pre-tax amount	$	0.6		$	1.1		$	1.7		$	5.6
Tax		(0.2	)		(0.2	)		(0.4	)		(1.3	)
Net of tax	$	0.4		$	0.9		$	1.3		$	4.3

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		(35.8	)		—			(1.2	)		(37.0	)
Amounts reclassified from AOCI		—			1.3			—			1.3
Net current period other comprehensive income (loss)		(35.8	)		1.3			(1.2	)		(35.7	)
Balance as of October 1, 2023	$	(381.5	)	$	(33.1	)	$	12.4		$	(402.2	)