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Earnings Per Share (EPS)
 9 Months Ended
Sep. 28, 2014
Earnings Per Share (EPS) [Abstract]  
Earnings Per Share (EPS)
Note 3.
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
  
Nine Months Ended
 
 
 
Sept. 28,
  
Sept. 29,
  
Sept. 28,
  
Sept. 29,
 
 
 
2014
  
2013
  
2014
  
2013
 
 
 
(in millions, except per share data)
 
Basic EPS
 
  
  
  
 
Amounts attributable to MTI
 
  
  
  
 
Income from continuing operations
 
$
36.8
  
$
21.9
  
$
69.1
  
$
63.4
 
Income (loss) from discontinued operations
  
0.2
   
-
   
2.0
   
(5.7
)
Net income
 
$
37.0
  
$
21.9
  
$
71.1
  
$
57.7
 
                 
Weighted average shares outstanding
  
34.5
   
34.6
   
34.5
   
34.8
 
                 
Earnings (Loss) per share attributable to MTI
                
Continuing operations
 
$
1.07
  
$
0.63
  
$
2.00
  
$
1.82
 
Discontinued operations
  
-
   
-
   
0.06
   
(0.16
)
Net income
 
$
1.07
  
$
0.63
  
$
2.06
  
$
1.66
 
                 
Diluted EPS
                
Amounts attributable to MTI
                
Income from continuing operations
 
$
36.8
  
$
21.9
  
$
69.1
  
$
63.4
 
Income (loss) from discontinued operations
  
0.2
   
-
   
2.0
   
(5.7
)
Net income
 
$
37.0
  
$
21.9
  
$
71.1
  
$
57.7
 
                 
Weighted average shares outstanding
  
34.5
   
34.6
   
34.5
   
34.8
 
Dilutive effect of stock options and stock units
  
0.3
   
0.3
   
0.3
   
0.3
 
Weighted average shares outstanding, adjusted
  
34.8
   
34.9
   
34.8
   
35.1
 
                 
Earnings (Loss) per share attributable to MTI
                
Continuing operations
 
$
1.06
  
$
0.63
  
$
1.99
  
$
1.81
 
Discontinued operations
  
-
   
-
   
0.06
   
(0.16
)
Net income
 
$
1.06
  
$
0.63
  
$
2.05
  
$
1.65
 

Options to purchase 173,068 shares and 238,287 shares of common stock for the three-month and nine-month periods ended September 28, 2014 and September 29, 2013, 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.