Non-controlling interests (Tables)

9 Months Ended

Sep. 28, 2014

Non-controlling interests [Abstract]

Total equity, equity attributable To MTI, and equity attributable to noncontrolling interests

The following is a reconciliation of beginning and ending total equity, equity attributable to MTI, and equity attributable to non-controlling interests:

	Equity Attributable to MTI
									Accumulated
	Common		Additional Paid-in			Retained			Other Comprehensive			Treasury			Non-controlling
	Stock		Capital			Earnings			Income (Loss)			Stock			Interests			Total
	(millions of dollars)
Balance as of December 31, 2013	$	4.7	$	361.5		$	1,106.3		$	(31.3	)	$	(593.7	)	$	$ 26.9		$	874.4
Net income		-		-			71.1			-			-			2.4			73.5
Other comprehensive income (loss)		-		-			-			(19.0	)		-			(0.5	)		(19.5	)
Dividends declared		-		-			(5.2	)		-			-			-			(5.2	)
Dividends to non-controlling interest		-		-			-			-			-			(3.3	)		(3.3	)
Purchase of non-controlling interest shares		-		(2.1	)		-			-			-			-			(2.1	)
Issuance of shares pursuant to employee stock compensation plans		0.1		2.8			-			-			-			-			2.9
Income tax benefit arising from employee stock compensation plans		-		1.2			-			-			-			-			1.2
Stock based compensation		-		3.8			-			-			-			-			3.8
Balance as of September 28, 2014	$	4.8	$	367.2		$	1,172.2		$	(50.3	)	$	(593.7	)	$	25.5		$	925.7

Summary of the effects of the CETCO transactions on equity attributable to MTI shareholders

The following table sets forth the effects of this transaction on equity attributable to MTI shareholders:

		Three Months Ended				Nine Months Ended
		Sept. 28, 2014		Sept. 29, 2013		Sept. 28, 2014			Sept. 29, 2013
	(millions of dollars)
Net income attributable to MTI		$	37.0	$	21.9	$	71.1		$	57.7
Transfer from non-controlling interest:
Decrease in additional paid-in capital for purchase of the remaining non-controlling interest in CETCO India			-		-		(2.1	)		-
Change from net income attributable to MTI and transfers from non-controlling interest		$	37.0	$	21.9	$	69.0		$	57.7