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Earnings Per Share (EPS)
 12 Months Ended
Dec. 31, 2017
Earnings Per Share (EPS) [Abstract]  
Earnings Per Share (EPS)
Note 4.   Earnings Per Share (EPS)

  
Year Ended December 31,
 
  
2017
  
2016
  
2015
 
  
(in millions, except per share data)
 
          
Net income attributable to MTI
 
$
195.1
  
$
133.4
  
$
107.9
 
             
             
Weighted average shares outstanding
  
35.2
   
34.9
   
34.7
 
Dilutive effect of stock options and stock units
  
0.4
   
0.3
   
0.3
 
Weighted average shares outstanding, adjusted
  
35.6
   
35.2
   
35.0
 
             
Basic earnings per share attributable to MTI
 
$
5.54
  
$
3.82
  
$
3.11
 
             
Diluted earnings per share attributable to MTI
 
$
5.48
  
$
3.79
  
$
3.08
 
 
Options to purchase 181,003 shares, 784 shares and 386,766 shares of common stock for the years ended December 31, 2017, 2016 and 2015, 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.

In the first quarter of 2017, the Company adopted the provisions of ASU 2016-09, “Stock Compensation – Improvements to Employee Share-Based Payment Accounting”.  Under the new guidance excess income tax benefits are no longer included in the calculation of assumed proceeds. As such, the dilutive effect of stock options and stock units for the period ended December 31, 2017 is reflective of the new guidance.