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Comprehensive Income | 6 Months Ended
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Jun. 30, 2024
Comprehensive Income [Abstract] |
Comprehensive Income | Note 12. Comprehensive Income The following table summarizes the amounts reclassified out of accumulated other comprehensive loss attributable to the Company:
|  | Three Months Ended |  |  | Six Months Ended |
(in millions of dollars) |  | Jun. 30, 2024 |  |  | Jul. 2, 2023 |  |  | Jun. 30, 2024 |  |  | Jul. 2, 2023 |
Amortization of pension items: |  |  |  |  |  |  |  |  |  |  |  |
Pre-tax amount |  | $ | 0.3 |  |  | $ | 0.7 |  |  | $ | 0.6 |  |  | $ | 1.2 |
Tax |  |  | (0.1 | ) |  |  | (0.3 | ) |  |  | (0.1 | ) |  |  | (0.4 | )
Net of tax |  | $ | 0.2 |  |  | $ | 0.4 |  |  | $ | 0.5 |  |  | $ | 0.8 |
The pre-tax amounts in the table above are included within the components of net periodic pension benefit cost (see Note 11 to the Condensed Consolidated Financial Statements) and the tax amounts are included within the provision for taxes on income line within the Condensed Consolidated Statements of Income. The major components of accumulated other comprehensive loss, net of related tax, attributable to MTI are as follows:
(in millions of dollars) |  | Foreign Currency Translation Adjustment |  |  | Unrecognized Pension Costs |  |  | Net Gain (Loss) on Derivative Instruments |  |  | Total |
Balance as of December 31, 2023 |  | $ | (350.9 | ) |  | $ | (28.8 | ) |  | $ | 10.3 |  |  | $ | (369.4 | )
Other comprehensive income (loss) before reclassifications |  |  | (32.8 | ) |  |  | — |  |  |  | 1.5 |  |  |  | (31.3 | )
Amounts reclassified from AOCI |  |  | — |  |  |  | 0.5 |  |  |  | — |  |  |  | 0.5 |
Net current period other comprehensive income (loss) |  |  | (32.8 | ) |  |  | 0.5 |  |  |  | 1.5 |  |  |  | (30.8 | )
Balance as of June 30, 2024 |  | $ | (383.7 | ) |  | $ | (28.3 | ) |  | $ | 11.8 |  |  | $ | (400.2 | )

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/220/tableOfContent + Details
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