Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2024

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)	Jun. 30, 2024			Jul. 2, 2023			Jun. 30, 2024			Jul. 2, 2023
Amortization of pension items:
Pre-tax amount	$	0.3		$	0.7		$	0.6		$	1.2
Tax		(0.1	)		(0.3	)		(0.1	)		(0.4	)
Net of tax	$	0.2		$	0.4		$	0.5		$	0.8

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, 2023	$	(350.9	)	$	(28.8	)	$	10.3	$	(369.4	)
Other comprehensive income (loss) before reclassifications		(32.8	)		—			1.5		(31.3	)
Amounts reclassified from AOCI		—			0.5			—		0.5
Net current period other comprehensive income (loss)		(32.8	)		0.5			1.5		(30.8	)
Balance as of June 30, 2024	$	(383.7	)	$	(28.3	)	$	11.8	$	(400.2	)