CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 188.5	$ 229.4
Short-term investments, at cost which approximates market	2.0	2.6
Accounts receivable, less allowance for doubtful accounts - 2016 - $7.9; 2015 -$ 4.4	341.3	348.7
Inventories	186.9	194.9
Prepaid expenses	28.0	24.9
Other current assets	4.4	3.1
Total current assets	751.1	803.6
Property, plant and equipment, less accumulated depreciation and depletion	1,051.8	1,104.3
Goodwill	778.7	781.2
Intangible assets	204.4	212.7
Deferred income taxes	27.1	30.6
Other assets and deferred charges	50.3	47.6
Total assets	2,863.4	2,980.0
Current liabilities:
Short-term debt	6.1	6.5
Current maturities of long-term debt	6.8	3.1
Accounts payable	144.9	152.4
Income tax payable	21.5	16.7
Accrued compensation and related items	61.3	64.5
Other current liabilities	54.9	75.4
Total current liabilities	295.5	318.6
Long-term debt, net of unamortized discount and deferred financing costs	1,069.9	1,255.3
Deferred income taxes	238.8	252.0
Accrued pension and postretirement benefits	147.3	141.8
Other non-current liabilities	81.0	74.6
Total liabilities	1,832.5	2,042.3
Shareholders' equity:
Preferred stock, without par value; 1,000,000 shares authorized; none issued	0.0	0.0
Common stock, par value at $0.10 per share; 100,000,000 shares authorized; Issued 48,229,826 shares in 2016 and 47,990,136 shares in 2015	4.8	4.8
Additional paid-in capital	400.0	387.6
Retained earnings	1,419.1	1,292.7
Accumulated other comprehensive loss	(221.1)	(180.9)
Less common stock held in treasury, at cost; 13,259,839 shares in 2016 and 13,205,741 shares 2015	(596.3)	(593.7)
Total MTI shareholders' equity	1,006.5	910.5
Non-controlling interest	24.4	27.2
Total shareholders' equity	1,030.9	937.7
Total liabilities and shareholders' equity	$ 2,863.4	$ 2,980.0