CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 212.2	$ 188.5
Short-term investments, at cost which approximates market	2.7	2.0
Accounts receivable, less allowance for doubtful accounts - 2017 - $4.2; 2016 -$ 7.9	383.0	341.3
Inventories	219.3	186.9
Prepaid expenses	30.1	28.0
Other current assets	4.9	4.4
Total current assets	852.2	751.1
Property, plant and equipment, less accumulated depreciation and depletion	1,061.3	1,051.8
Goodwill	779.3	778.7
Intangible assets	196.5	204.4
Deferred income taxes	25.6	27.1
Other assets and deferred charges	55.5	50.3
Total assets	2,970.4	2,863.4
Current liabilities:
Short-term debt	6.3	6.1
Current maturities of long-term debt	3.8	6.8
Accounts payable	179.0	144.9
Income tax payable	8.4	21.5
Accrued compensation and related items	55.4	61.3
Other current liabilities	57.1	54.9
Total current liabilities	310.0	295.5
Long-term debt, net of unamortized discount and deferred financing costs	959.8	1,069.9
Deferred income taxes	159.4	238.8
Accrued pension and postretirement benefits	155.0	147.3
Other non-current liabilities	107.1	81.0
Total liabilities	1,691.3	1,832.5
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 48,644,736 shares in 2017 and 48,229,826 shares in 2016	4.9	4.8
Additional paid-in capital	422.7	400.0
Retained earnings	1,607.2	1,419.1
Accumulated other comprehensive loss	(186.1)	(221.1)
Less common stock held in treasury, at cost; 13,270,391 shares in 2017 and 13,259,839 shares in 2016	(597.0)	(596.3)
Total MTI shareholders' equity	1,251.7	1,006.5
Non-controlling interest	27.4	24.4
Total shareholders' equity	1,279.1	1,030.9
Total liabilities and shareholders' equity	$ 2,970.4	$ 2,863.4