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Earnings per Share
 6 Months Ended
Jun. 30, 2024
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
    
Six Months Ended
  
(in millions of dollars, except per share data)
  
Jun. 30,
2024
    
Jul. 2,
2023
    
Jun. 30,
2024
    
Jul. 2,
2023
  
                         
Net income attributable to Minerals Technologies Inc.
  
$
19.7
    
$
26.6
    
$
66.4
    
$
63.6
  
                                 
Weighted average shares outstanding
    
32.2
      
32.5
      
32.3
      
32.5
  
Dilutive effect of stock options and deferred restricted stock units
    
0.2
      
0.1
      
0.1
      
—
  
Weighted average shares outstanding, adjusted
    
32.4
      
32.6
      
32.4
      
32.5
  
                                 
Basic earnings per share attributable to Minerals Technologies Inc.
  
$
0.61
    
$
0.82
    
$
2.06
    
$
1.96
  
                                 
Diluted earnings per share attributable to Minerals Technologies Inc.
  
$
0.61
    
$
0.82
    
$
2.05
    
$
1.96
  


Of the options outstanding of 1,482,563 and 1,607,833 for the three-month and six-month periods ended June 30, 2024 and July 2, 2023, respectively, options to purchase 196,471 shares and 1,289,235 shares of common stock for the three-month and six-month periods ending June 30, 2024 and July 2, 2023, 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.