MINERALS TECHNOLOGIES INC
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
MTX$61.87-1.2%Stored close · as of Nov 10, 2026
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Consolidated Statements of Income
INCOME
| Year Ended December 31, | |||
|---|---|---|---|
| (millions of dollars, except per share data) | 2023 | 2022 | 2021 |
| Net sales | $2,169.9 | $2,125.5 | $1,858.3 |
| Cost of goods sold | 1,662.8 | 1,660.5 | 1,411.8 |
| Production margin | 507.1 | 465.0 | 446.5 |
| Marketing and administrative expenses | 206.0 | 192.1 | 186.2 |
| Research and development expenses | 21.2 | 20.4 | 19.5 |
| Impairment of assets | 71.7 | — | — |
| Acquisition-related expenses | 0.3 | 5.1 | 4.0 |
| Litigation expenses, net | 29.2 | 32.6 | — |
| Restructuring and other items, net | 6.9 | — | 1.1 |
| Income from operations | 171.8 | 214.8 | 235.7 |
| Interest expense, net | (59.2) | (43.9) | (37.2) |
| Debt extinguishment expenses | — | (6.9) | — |
| Non-cash pension settlement charge | — | (3.5) | (1.8) |
| Other non-operating deductions, net | (4.9) | (3.8) | 5.6 |
| Total non-operating deductions, net | (64.1) | (58.1) | (33.4) |
| Income before tax and equity in earnings | 107.7 | 156.7 | 202.3 |
| Provision for taxes on income | 23.7 | 32.1 | 36.6 |
| Equity in earnings of affiliates, net of tax | 4.3 | 1.7 | 2.8 |
| Net income | 88.3 | 126.3 | 168.5 |
| Less: | |||
| Net income attributable to non-controlling interests | 4.2 | 4.1 | 4.1 |
| Net income attributable to Minerals Technologies Inc. (MTI) | $84.1 | $122.2 | $164.4 |
| Earnings per share: | |||
| Basic: | |||
| Income from operations attributable to MTI | $2.59 | $3.74 | $4.89 |
| Diluted: | |||
| Income from operations attributable to MTI | $2.58 | $3.73 | $4.86 |
| Cash dividends declared per common share | $0.25 | $0.20 | $0.20 |
| Shares used in computation of earnings per share: | |||
| Basic | 32.5 | 32.7 | 33.6 |
| Diluted | 32.6 | 32.8 | 33.8 |
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