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Earnings per Share | 6 Months Ended
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Jul. 02, 2023
Earnings Per Share [Abstract] |
Earnings per Share | Note 4. 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 |  |  | Six Months Ended |
(in millions, except per share data) |  | Jul. 2, 2023 |  |  | Jul. 3, 2022 |  |  | Jul. 2, 2023 |  |  | Jul. 3, 2022 |
Net income attributable to Minerals Technologies Inc. |  | $ | 26.6 |  |  | $ | 44.9 |  |  | $ | 63.6 |  |  | $ | 89.0 |
Weighted average shares outstanding |  |  | 32.5 |  |  |  | 32.8 |  |  |  | 32.5 |  |  |  | 33.0 |
Dilutive effect of stock options and deferred restricted stock units |  |  | 0.1 |  |  |  | 0.1 |  |  |  | — |  |  |  | 0.1 |
Weighted average shares outstanding, adjusted |  |  | 32.6 |  |  |  | 32.9 |  |  |  | 32.5 |  |  |  | 33.1 |
Basic earnings per share attributable to Minerals Technologies Inc. |  | $ | 0.82 |  |  | $ | 1.37 |  |  | $ | 1.96 |  |  | $ | 2.70 |
Diluted earnings per share attributable to Minerals Technologies Inc. |  | $ | 0.82 |  |  | $ | 1.36 |  |  | $ | 1.96 |  |  | $ | 2.69 |
Of the options outstanding of 1,607,833 and 1,524,368 for the three-month and six-month periods ended July 2, 2023 and July 3, 2022, respectively, options to purchase 1,289,235 shares and 728,322 shares of common stock for the three-month and six-month periods ending July 2, 2023 and July 3, 2022, 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.

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