Minerals (MTX) 10-Q 31 Jul 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 28, 2020	Jul. 20, 2020
Cover [Abstract]
Entity Registrant Name	MINERALS TECHNOLOGIES INC
Entity Central Index Key	0000891014
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		34,119,516
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 28, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	1-11430
Entity Tax Identification Number	25-1190717
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	622 Third Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10017-6707
City Area Code	212
Local Phone Number	878-1800
Title of 12(b) Security	Common Stock, $0.10 par value
Trading Symbol	MTX
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Statements of Income [Abstract]
Total net sales	$ 357.2	$ 463.8	$ 774.7	$ 901.5
Total cost of sales	268.3	351.8	579	679.8
Production margin	88.9	112	195.7	221.7
Marketing and administrative expenses	41.8	48.4	85.2	91.3
Research and development expenses	5.1	4.9	10.2	9.7
Litigation expenses	8.3	0	8.9	0
Restructuring and other items, net	6.5	13.2	6.5	13.2
Income from operations	27.2	45.5	84.9	107.5
Interest expense, net	(8.1)	(10.9)	(17.4)	(22.3)
Non-cash pension settlement charge	(4.3)	0	(4.3)	0
Other non-operating income (deductions), net	(0.2)	(2.4)	0.4	(3.8)
Total non-operating deductions, net	(12.6)	(13.3)	(21.3)	(26.1)
Income from operations before tax and equity in earnings	14.6	32.2	63.6	81.4
Provision for taxes on income	0.9	5.1	10.6	14.4
Equity in earnings of affiliates, net of tax	1.2	0.5	1.5	0.6
Consolidated net income	14.9	27.6	54.5	67.6
Less: Net income attributable to non-controlling interests	0.5	1	1.5	1.9
Net income attributable to Minerals Technologies Inc.	$ 14.4	$ 26.6	$ 53	$ 65.7
Basic:
Income from operations attributable to Minerals Technologies Inc. (in dollars per share)	$ 0.42	$ 0.76	$ 1.55	$ 1.87
Diluted:
Income from operations attributable to Minerals Technologies Inc. (in dollars per share)	0.42	0.75	1.55	1.86
Cash dividends declared per common share (in dollars per share)	$ 0.05	$ 0.05	$ 0.10	$ 0.10
Shares used in computation of earnings per share:
Basic (in shares)	34.1	35.2	34.2	35.2
Diluted (in shares)	34.1	35.3	34.3	35.3
Product [Member]
Statements of Income [Abstract]
Total net sales	$ 339.5	$ 438	$ 731.8	$ 855.4
Total cost of sales	256.6	334	550.7	648
Service [Member]
Statements of Income [Abstract]
Total net sales	17.7	25.8	42.9	46.1
Total cost of sales	$ 11.7	$ 17.8	$ 28.3	$ 31.8

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) [Abstract]
Consolidated net income	$ 14.9	$ 27.6	$ 54.5	$ 67.6
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	7.9	(18.7)	(35.2)	(19.1)
Pension and postretirement plan adjustments	5.3	1.7	7.4	3.3
Unrealized gains (losses) on derivative instruments	(0.8)	(3.3)	1	(2.1)
Total other comprehensive income (loss), net of tax	12.4	(20.3)	(26.8)	(17.9)
Total comprehensive income including non-controlling interests	27.3	7.3	27.7	49.7
Comprehensive income attributable to non-controlling interests	(1.5)	(0.8)	(1.2)	(2.2)
Comprehensive income attributable to Minerals Technologies Inc.	$ 25.8	$ 6.5	$ 26.5	$ 47.5

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Jun. 28, 2020	[1]	Dec. 31, 2019	[2]
Current assets:
Cash and cash equivalents	$ 232.8		$ 241.6
Short-term investments	5.4		1.6
Accounts receivable, net	336.8		376.2
Inventories	269.8		253.3
Prepaid expenses and other current assets	39.6		46.5
Total current assets	884.4		919.2
Property, plant and equipment	2,217.9		2,257
Less accumulated depreciation and depletion	(1,194.3)		(1,204.2)
Property, plant and equipment, net	1,023.6		1,052.8
Goodwill	805.8		807.4
Intangible assets	198.5		203
Deferred income taxes	23		23
Other assets and deferred charges	121.6		107.2
Total assets	3,056.9		3,112.6
Current liabilities:
Short-term debt	100.3		101.2
Current maturities of long-term debt	149.2		2.1
Accounts payable	139.4		163.4
Other current liabilities	120.1		131.8
Total current liabilities	509		398.5
Long-term debt, net of unamortized discount and deferred financing costs	647.7		824.3
Deferred income taxes	181.4		180.6
Accrued pension and post-retirement benefits	145.9		148.9
Other non-current liabilities	132.1		125.7
Total liabilities	1,616.1		1,678
Shareholders' equity:
Common stock	4.9		4.9
Additional paid-in capital	445.5		442.2
Retained earnings	1,955.3		1,905.7
Accumulated other comprehensive loss	(316.9)		(290.4)
Less common stock held in treasury	(682.3)		(659.7)
Total Minerals Technologies Inc. shareholders' equity	1,406.5		1,402.7
Non-controlling interests	34.3		31.9
Total shareholders' equity	1,440.8		1,434.6
Total liabilities and shareholders' equity	$ 3,056.9		$ 3,112.6
[1]	Unaudited
[2]	Condensed from audited financial statements

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 28, 2020		Jun. 30, 2019
Operating Activities:
Consolidated net income	$ 54.5		$ 67.6
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	46.3		48.9
Non-cash pension settlement costs	4.3		0
Reduction of right of use asset	6.2		6.6
Asset impairment charge	6		7.5
Other non-cash items	1.3		4.5
Pension plan funding	(4.3)		(3.1)
Net changes in operating assets and liabilities	(20.2)		(33.7)
Net cash provided by operating activities	94.1		98.3
Investing Activities:
Purchases of property, plant and equipment, net	(31.6)		(35.5)
Proceeds from sale of short-term investments	0.7		3.4
Purchases of short-term investments	(5.5)		(4.7)
Other investing activities	0		(0.8)
Net cash used in investing activities	(36.4)		(37.6)
Financing Activities:
Repayment of long-term debt	(31.3)		(36.6)
Repayment of short-term debt	(0.9)		(1.1)
Purchase of common stock for treasury	(22.6)		(10)
Proceeds from issuance of stock under option plan	0.7		0.4
Excess tax benefits related to stock incentive programs	(2.1)		(1.9)
Dividends paid to non-controlling interests	(0.5)		(3.9)
Capital contribution from non-controlling interests	1.7		0.6
Cash dividends paid	(3.4)		(3.5)
Net cash used in financing activities	(58.4)		(56)
Effect of exchange rate changes on cash and cash equivalents	(8.1)		1
Net (decrease) increase in cash and cash equivalents	(8.8)		5.7
Cash and cash equivalents at beginning of period	241.6	[1]	208.8
Cash and cash equivalents at end of period	232.8	[2]	214.5
Supplemental disclosure of cash flow information:
Interest paid	16.9		21.9
Income taxes paid	$ 14.6		$ 13.7
[1]	Condensed from audited financial statements
[2]	Unaudited

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Millions	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Non-controlling Interests [Member]	Total		Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Accumulated Other Comprehensive Income (Loss) [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Treasury Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Non-controlling Interests [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance at Dec. 31, 2018	$ 4.9	$ 431.9	$ 1,769.1	$ (233.7)	$ (618.7)	$ 31.8	$ 1,385.3
Balance (ASU 2018-02 [Member]) at Dec. 31, 2018									$ 0	$ 0	$ 10.9	$ (10.9)	$ 0	$ 0	$ 0
Net income	0	0	39.1	0	0	0.9	40
Other comprehensive income (loss)	0	0	0	1.9	0	0.5	2.4
Dividends declared	0	0	(1.7)	0	0	0	(1.7)
Dividends paid to non-controlling interests	0	0	0	0	0	(0.1)	(0.1)
Capital contribution from non-controlling interests	0	0	0	0	0	0.8	0.8
Issuance of shares pursuant to employee stock compensation plans	0	0.1	0	0	0	0	0.1
Stock-based compensation	0	0.6	0	0	0	0	0.6
Balance at Mar. 31, 2019	4.9	432.6	1,817.4	(242.7)	(618.7)	33.9	1,427.4
Balance at Dec. 31, 2018	4.9	431.9	1,769.1	(233.7)	(618.7)	31.8	1,385.3
Balance (ASU 2018-02 [Member]) at Dec. 31, 2018									$ 0	$ 0	$ 10.9	$ (10.9)	$ 0	$ 0	$ 0
Net income							67.6
Other comprehensive income (loss)							(17.9)
Balance at Jun. 30, 2019	4.9	435.3	1,842.2	(262.8)	(628.7)	30.7	1,421.6
Balance at Mar. 31, 2019	4.9	432.6	1,817.4	(242.7)	(618.7)	33.9	1,427.4
Net income	0	0	26.6	0	0	1	27.6
Other comprehensive income (loss)	0	0	0	(20.1)	0	(0.2)	(20.3)
Dividends declared	0	0	(1.8)	0	0	0	(1.8)
Dividends paid to non-controlling interests	0	0	0	0	0	(3.8)	(3.8)
Capital contribution from non-controlling interests	0	0	0	0	0	(0.2)	(0.2)
Issuance of shares pursuant to employee stock compensation plans	0	0.2	0	0	0	0	0.2
Stock-based compensation	0	2.5	0	0	0	0	2.5
Purchase of common stock for treasury	0	0	0	0	(10)	0	(10)
Balance at Jun. 30, 2019	4.9	435.3	1,842.2	(262.8)	(628.7)	30.7	1,421.6
Balance at Dec. 31, 2019	4.9	442.2	1,905.7	(290.4)	(659.7)	31.9	1,434.6	[1]
Net income	0	0	38.6	0	0	1	39.6
Other comprehensive income (loss)	0	0	0	(37.8)	0	(1.4)	(39.2)
Dividends declared	0	0	(1.7)	0	0	0	(1.7)
Capital contribution from non-controlling interests	0	0	0	0	0	0.7	0.7
Issuance of shares pursuant to employee stock compensation plans	0	0.5	0	0	0	0	0.5
Stock-based compensation	0	0.1	0	0	0	0	0.1
Purchase of common stock for treasury	0	0	0	0	(22.6)	0	(22.6)
Balance at Mar. 29, 2020	4.9	442.8	1,942.6	(328.2)	(682.3)	32.2	1,412
Balance at Dec. 31, 2019	4.9	442.2	1,905.7	(290.4)	(659.7)	31.9	1,434.6	[1]
Net income							54.5
Other comprehensive income (loss)				(26.5)			(26.8)
Balance at Jun. 28, 2020	4.9	445.5	1,955.3	(316.9)	(682.3)	34.3	1,440.8	[2]
Balance at Mar. 29, 2020	4.9	442.8	1,942.6	(328.2)	(682.3)	32.2	1,412
Net income	0	0	14.4	0	0	0.5	14.9
Other comprehensive income (loss)	0	0	0	11.3	0	1.1	12.4
Dividends declared	0	0	(1.7)	0	0	0	(1.7)
Dividends paid to non-controlling interests	0	0	0	0	0	(0.5)	(0.5)
Capital contribution from non-controlling interests	0	0	0	0	0	1	1
Issuance of shares pursuant to employee stock compensation plans	0	0.2	0	0	0	0	0.2
Stock-based compensation	0	2.5	0	0	0	0	2.5
Balance at Jun. 28, 2020	$ 4.9	$ 445.5	$ 1,955.3	$ (316.9)	$ (682.3)	$ 34.3	$ 1,440.8	[2]
[1]	Condensed from audited financial statements
[2]	Unaudited

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 28, 2020
Basis of Presentation and Summary of Significant Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 1. Basis of Presentation and Summary of Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements have been prepared by management of Minerals Technologies Inc. (the “Company”, “MTI”, “we”, or “us”) in accordance with the rules and regulations of the United States Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted. Therefore, these financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. In the opinion of management, all adjustments, consisting solely of normal recurring adjustments necessary for a fair presentation of the financial information for the periods indicated, have been included. The results for the three-month and six-month periods ended June 28, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. Company Operations The Company is a resource- and technology-based company that develops, produces and markets worldwide a broad range of specialty mineral, mineral-based and synthetic mineral products and supporting systems and services. The Company has four reportable segments: Performance Materials, Specialty Minerals, Refractories and Energy Services. – The Performance Materials segment is a leading global supplier of bentonite and bentonite-related products and leonardite. This segment also provides products for non-residential construction, environmental and infrastructure projects worldwide, serving customers engaged in a broad range of construction projects. – The Specialty Minerals segment produces and sells the synthetic mineral product precipitated calcium carbonate (“PCC”) and processed mineral product quicklime (“lime”), and mines mineral ores then processes and sells natural mineral products, primarily limestone and talc. – The Refractories segment produces and markets monolithic and shaped refractory materials and specialty products, services and application and measurement equipment, and calcium metal and metallurgical wire products. – The Energy Services segment provides services to improve the production, costs, compliance, and environmental impact of activities performed in the oil and gas industry. This segment offers a range of patented and unpatented technologies, products and services to the upstream and downstream oil and gas sector throughout the world. Use of Estimates The Company employs accounting policies that are in accordance with U.S. generally accepted accounting principles and require management to make estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reported period. Significant estimates include those related to revenue recognition, valuation of long-lived assets, goodwill and other intangible assets, income taxes, including valuation allowances, and pension plan assumptions. Actual results could differ from those estimates. Recently Adopted Accounting Standards Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued ASU 2016-13, "Measurement of Credit Losses on Financial Instruments", which replaces existing incurred loss impairment guidance and establishes a single allowance framework for financial assets carried at amortized cost. The Company adopted this guidance on January 1, 2020 using a modified retrospective transition method. The Company did not record a cumulative-effect adjustment upon adoption of this standard. Adoption of this standard did not have a material impact on the Company's consolidated financial statements. Recently Issued Accounting Standards Changes to accounting principles generally accepted in the United States of America (U.S. GAAP) are established by the Financial Accounting Standards Board (FASB) in the form of accounting standards updates (ASUs) to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial position and results of operations. Investments - Equity Securities, Investments - Equity Method and Joint Ventures, and Derivatives and Hedging In January 2020, the FASB issued ASU 2020-01, "Investments - Equity Securities, Investments - Equity Method and Joint Ventures, and Derivatives and Hedging", which addresses the accounting for the transition into and out of the equity method and measuring certain purchased options and forward contracts to acquire investments. The standard is effective for interim and annual periods beginning on or after December 15, 2020. The adoption of this standard is not expected to have a material impact on the Company's financial statements.

COVID-19

COVID-19	6 Months Ended
	Jun. 28, 2020
COVID-19 [Abstract]
COVID-19	Note 2. COVID-19 In March 2020, the World Health Organization categorized the novel coronavirus (COVID-19) as a pandemic. Around the world, the Company has been closely adhering to all government regulations as they are issued. Applicable governmental directives across the United States and other global locations have typically permitted the continued operation of essential critical infrastructure sectors. As the Company supplies products and services to many essential industries, including critical manufacturing and energy sectors, all of our operations have qualified as essential businesses. Accordingly, all of the Company’s production facilities are currently operational. In a few locations, however, sites were temporarily impacted by the pandemic. The recent economic environment related to the rapidly evolving global pandemic, which has slowed business activity in several key end-markets, negatively impacted the Company’s second quarter results and will continue to impact our results in the third quarter. The extent to which our operations will continue to be impacted by the pandemic will depend largely on future developments, including the continued severity of the pandemic and future actions by government authorities to contain it or treat its impact. These conditions are highly uncertain and cannot be accurately predicted. The Company will continue to actively monitor and respond to the COVID-19 pandemic. As we cannot predict the duration or scope of the COVID-19 pandemic and its impact on our customers and suppliers, the negative financial impact to our future results cannot be reasonably estimated, but could be material. We are actively managing the business to maintain cash flow and we have significant liquidity. We believe that these factors will allow us to meet our anticipated funding requirements. On March 27, 2020, the U.S. government enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) which includes modifications to the limitation on business interest expense and net operating loss provisions, and provides a payment delay of employer payroll taxes during 2020 after the date of enactment with 50% due by December 31, 2021 and the remaining 50% due by December 31, 2022. The CARES Act is not expected to have a material impact on the Company’s consolidated financial statements.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 28, 2020
Revenue from Contracts with Customers [Abstract]
Revenue from Contracts with Customers	Note 3. Revenue from Contracts with Customers On a regular basis, the Company reviews its product line groupings to generate greater alignment within each product line. Accordingly, in the third quarter of 2019, the Company combined its Basic Minerals product line with its Household, Personal Care & Specialty Products product line, both within our Performance Materials segment. Prior year amounts were reclassified to conform to current presentation. The following table disaggregates our revenue by major source (product line) for the three and six-month periods ended June 28, 2020 and June 30, 2019 : (millions of dollars) Three Months Ended Six Months Ended Net Sales Jun. 28, 2020 Jun. 30, 2019 Jun. 28, 2020 Jun. 30, 2019 Metalcasting $ 52.8 $ 75.8 $ 114.5 $ 149.0 Household, Personal Care & Specialty Products 87.9 91.5 184.1 186.3 Environmental Products 19.9 29.0 31.4 44.9 Building Materials 13.2 19.1 30.0 34.4 Performance Materials 173.8 215.4 360.0 414.6 Paper PCC 65.5 90.2 150.6 181.7 Specialty PCC 14.9 17.3 32.4 35.4 Ground Calcium Carbonate 20.6 24.8 43.2 47.1 Talc 8.8 12.8 20.7 25.3 Specialty Minerals 109.8 145.1 246.9 289.5 Refractory Products 47.1 61.0 102.9 123.0 Metallurgical Products 8.8 16.5 22.0 28.3 Refractories 55.9 77.5 124.9 151.3 Energy Services 17.7 25.8 42.9 46.1 Total $ 357.2 $ 463.8 $ 774.7 $ 901.5

Earnings per Share (EPS)

Earnings per Share (EPS)	6 Months Ended
	Jun. 28, 2020
Earnings per Share [Abstract]
Earnings per Share (EPS)	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) Jun. 28, 2020 Jun. 30, 2019 Jun. 28, 2020 Jun. 30, 2019 Net income attributable to Minerals Technologies Inc. $ 14.4 $ 26.6 $ 53.0 $ 65.7 Weighted average shares outstanding 34.1 35.2 34.2 35.2 Dilutive effect of stock options and stock units — 0.1 0.1 0.1 Weighted average shares outstanding, adjusted 34.1 35.3 34.3 35.3 Basic earnings per share attributable to Minerals Technologies Inc. $ 0.42 $ 0.76 $ 1.55 $ 1.87 Diluted earnings per share attributable to Minerals Technologies Inc. $ 0.42 $ 0.75 $ 1.55 $ 1.86 Options to purchase 1,448,699 shares and 470,304 shares of common stock for the three-month and six-month periods ended June 28, 2020 and June 30, 2019, 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.

Restructuring and Other Items,

Restructuring and Other Items, net	6 Months Ended
	Jun. 28, 2020
Restructuring and Other Items, net [Abstract]
Restructuring and Other Items, net	Note 5. Restructuring and Other Items, net During the second quarter of 2019, the Company initiated a restructuring and cost savings program to better align our costs and organizational structure with the current market environment. The Company recorded a $7.5 million non-cash impairment of assets charge related to facilities no longer operating and underutilization of certain equipment, and $5.7 million in other restructuring costs in the second quarter of 2019. In June 2020, Verso Papers announced they would be idling two of their paper mills indefinitely. As a result, the Company recorded a non-cash write-down of assets charge of $6.0 million and $0.3 million in severance related costs for its Paper PCC satellite facilities at these mills. The following table outlines the amount of restructuring charges recorded within the Consolidated Statements of Income and the segments they relate to for the three and six-months ending June 28, 2020 and June 30, 2019: (millions of dollars) Jun. 28, 2020 Jun. 30, 2019 Asset Write-Downs Performance Materials $ — $ 4.2 Specialty Minerals 6.0 1.6 Energy Services — 1.7 Total charge for asset write-down $ 6.0 $ 7.5 Severance and other related costs Performance Materials $ — $ 2.8 Specialty Minerals 0.3 0.9 Refractories — 0.8 Energy Services — 0.1 Corporate — 1.1 Total severance and other related costs $ 0.3 $ 5.7 Other Corporate $ 0.2 $ — Total restructuring and other items, net $ 6.5 $ 13.2 At June 28, 2020, the Company had $4.6 million included within accrued liabilities in the Condensed Consolidated Balance Sheet for cash expenditures needed to satisfy remaining obligations under workforce reduction initiatives. The Company expects to pay these amounts by the end of 2020. The following table is a reconciliation of our restructuring liability balance as of June 28, 2020: (millions of dollars) Restructuring liability, December 31, 2019 $ 5.0 Additional provision 0.3 Cash payments (0.7 ) Restructuring liability, June 28, 2020 $ 4.6

Income Taxes

Income Taxes	6 Months Ended
	Jun. 28, 2020
Income Taxes [Abstract]
Income Taxes	Note 6. Income Taxes Provision for taxes was $0.9 million and $10.6 million during the three and six-month periods ended June 28, 2020, respectively. The effective tax rate was 6.2%, as compared with 15.8% in the prior year. The lower effective tax rate was primarily due to restructuring and other charges and to the mix of earnings. As of June 28, 2020, the Company had approximately $8.2 million of total unrecognized income tax benefits. Included in this amount were a total of $5.5 million of unrecognized income tax benefits that, if recognized, would affect the Company’s effective tax rate. While it is expected that the amount of unrecognized tax benefits will change in the next 12 months, the Company does not expect the change to have a significant impact on the results of operations or the financial position of the Company. The Company’s accounting policy is to recognize interest and penalties accrued relating to unrecognized income tax benefits as part of its provision for income taxes. The Company had a net increase of approximately $0.1 million and $0.2 million during the three and six-months ended June 28, 2020 and an accrued balance of $2.2 million of interest and penalties as of June 28, 2020. The Company operates in multiple taxing jurisdictions, both within and outside the U.S. In certain situations, a taxing authority may challenge positions that the Company has adopted in its income tax filings. The Company, with a few exceptions (none of which are material), is no longer subject to income tax examinations by tax authorities for years prior to 2010.

Inventories

Inventories	6 Months Ended
	Jun. 28, 2020
Inventories [Abstract]
Inventories	Note 7. Inventories The following is a summary of inventories by major category: (millions of dollars) Jun. 28, 2020 Dec. 31, 2019 Raw materials $ 116.1 $ 105.9 Work-in-process 9.7 7.2 Finished goods 98.4 95.5 Packaging and supplies 45.6 44.7 Total inventories $ 269.8 $ 253.3

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 28, 2020
Goodwill and Other Intangible Assets [Abstract]
Goodwill and Other Intangible Assets	Note 8. Goodwill and Other Intangible Assets Goodwill and other intangible assets with indefinite lives are not amortized, but instead are assessed for impairment, at least annually. The carrying amount of goodwill was $805.8 million and $807.4 million as of June 28, 2020 and December 31, 2019, respectively. The change in goodwill from December 31, 2019 to June 28, 2020 is attributable to the effects of foreign exchange. Intangible assets subject to amortization as of June 28, 2020 and December 31, 2019 were as follows: June 28, 2020 December 31, 2019 (millions of dollars) Weighted Average Useful Life (Years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Tradenames 35 $ 203.9 $ 35.4 $ 203.9 $ 32.5 Technology 13 18.8 8.8 18.8 8.0 Patents and trademarks 19 6.4 6.0 6.4 5.9 Customer relationships 22 24.8 5.2 24.7 4.4 32 $ 253.9 $ 55.4 $ 253.8 $ 50.8 The weighted average amortization period for acquired intangible assets subject to amortization is approximately 32 years. Estimated amortization expense is $4.8 million for the remainder of 2020, $36.4 million for 2021–2024 and $157.3 million thereafter.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 28, 2020
Derivative Financial Instruments [Abstract]
Derivative Financial Instruments	Note 9. Derivative Financial Instruments As a multinational corporation with operations throughout the world, the Company is exposed to certain market risks. The Company uses a variety of practices to manage these market risks, including, when considered appropriate, derivative financial instruments. The Company's objective is to offset gains and losses resulting from interest rates and foreign currency exposures with gains and losses on the derivative contracts used to hedge them. The Company uses derivative financial instruments only for risk management and not for trading or speculative purposes. By using derivative financial instruments to hedge exposures to changes in interest rates and foreign currencies, the Company exposes itself to credit risk and market risk. Credit risk is the risk that the counterparty will fail to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes the Company, which creates credit risk for the Company. When the fair value of a derivative contract is negative, the Company owes the counterparty, and therefore, it does not face any credit risk. The Company minimizes the credit risk in derivative instruments by entering into transactions with major financial institutions. Market risk is the adverse effect on the value of a financial instrument that results from a change in interest rates, currency exchange rates, or commodity prices. The market risk associated with interest rate and forward exchange contracts is managed by establishing and monitoring parameters that limit the types and degree of market risk that may be undertaken. Cash Flow Hedges For derivative instruments that are designated and qualify as cash flow hedges, the Company records the effective portion of the gain or loss in accumulated other comprehensive income (loss) as a separate component of shareholders' equity. The Company subsequently reclassifies the effective portion of gain or loss into earnings in the period during which the hedged transaction is recognized in earnings. The Company utilizes interest rate swaps to limit exposure to market fluctuations on floating-rate debt. In the second quarter of 2018, the Company entered into a floating to fixed interest rate swap for a notional amount of $150 million. The fair value of this swap is a liability of $9.2 million at June 28, 2020 and is recorded in other non-current liabilities on the Condensed Consolidated Balance Sheet. In addition, in the second quarter of 2016, the Company entered into a floating to fixed interest rate swap with an initial aggregate notional amount of $300 million. The notional amount was $57 million at June 28, 2020. The fair value of this swap is a liability of $0.2 million at June 28, 2020 and is recorded in other current liabilities on the Condensed Consolidated Balance Sheet. These interest rate swaps are designated as cash flow hedges. As a result, the gains and losses associated with these interest rate swaps are recorded in accumulated other comprehensive income (loss). Net Investment Hedges For derivative instruments that are designated and qualify as net investment hedges, the Company records the effective portion of the gain or loss in accumulated other comprehensive income (loss) as a separate component of shareholders' equity. To protect the value of our investments in our foreign operations against adverse changes in foreign currency exchange rates, the Company from time to time hedges a portion of our net investment in one or more of our foreign subsidiaries. During the second quarter of 2018, the Company entered into a cross currency rate swap with a total notional value of $ million to exchange monthly fixed-rate interest payments in U.S. dollars for monthly fixed-rate interest rate payments in Euros. This contract matures in May 2023 and requires the exchange of Euros and U.S. dollar principal payments upon maturity. Changes in the fair value of this financial instrument are recognized in to offset the change in the carrying amount of the net investment being hedged. Amounts are reclassified out of into earnings when the hedged net investment is either sold or substantially liquidated. Assets and liabilities measured at fair value are based on one or more of three valuation techniques. The three valuation techniques are as follows: ● Market approach - prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. ● Cost approach - amount that would be required to replace the service capacity of an asset or replacement cost. ● Income approach - techniques to convert future amounts to a single present amount based on market expectations, including present value techniques, option-pricing and other models. The Company primarily applies the income approach for interest rate derivatives for recurring fair value measurements and attempts to utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value of our interest rate and cross currency rate swap contracts are determined based on inputs that are readily available in public markets or can be derived from information available in publicly quoted markets and are categorized as Level 2.

Long-Term Debt and Commitments

Long-Term Debt and Commitments	6 Months Ended
	Jun. 28, 2020
Long-Term Debt and Commitments [Abstract]
Long-Term Debt and Commitments	Note 10. Long-Term Debt and Commitments The following is a summary of long-term debt: ( millions of dollars) Jun. 28, 2020 December 31, 2019 Term Loan Facility-Variable Tranche due February 14, 2024, net of unamortized discount and deferred financing costs of $14.2 million and $16.0 million $ 643.7 $ 642.0 Term Loan Facility- Fixed Tranche due May 9, 2021, net of unamortized discount and deferred financing costs of $0.1 million and $0.2 million 147.9 177.8 Netherlands Term Loan due 2020 0.3 1.1 Netherlands Term Loan due 2022 0.7 1.0 Japan Loan Facilities 4.3 4.5 Total 796.9 826.4 Less: Current maturities 149.2 2.1 Total long-term debt $ 647.7 $ 824.3 On May 9, 2014, in connection with the acquisition of AMCOL International Corporation (“AMCOL”), the Company entered into a credit agreement providing for a $1.560 billion senior secured term loan facility (the “Term Facility”) and a $200 million senior secured revolving credit facility. On June 23, 2015, the Company entered into an amendment (the “First Amendment”) to the credit agreement to reprice the $1.378 billion then outstanding on the Term Facility. As amended, the Term Facility had a $1.078 billion floating rate tranche and a $300 million fixed rate tranche. On February 14, 2017, the Company entered into an amendment (the “Second Amendment”) to the credit agreement to reprice the $788 million floating rate tranche then outstanding, which extended the maturity and lowered the interest costs by 75 basis points. On April 18, 2018, the Company entered into an amendment (the “Third Amendment”) to the credit agreement to refinance its then existing senior secured revolving credit facility. In connection with the Third Amendment, the existing senior secured revolving credit facility was replaced with a new revolving credit facility with $300 million of aggregate commitments (the “Revolving Credit Facility” and, together with the Term Facility, the “Senior Secured Credit Facilities”). Following the amendments, the loans outstanding under the floating rate tranche of the Term Facility are scheduled to mature on February 14, 2024, the loans outstanding under the fixed rate tranche of the Term Facility are scheduled to mature on May 9, 2021 and the loans outstanding (if any) and commitments under the Revolving Facility will mature and terminate, as the case may be, on April 18, 2023. Loans under the floating rate tranche of the Term Facility bear interest at a rate equal to an adjusted LIBOR rate (subject to a floor of 0.75%) plus an applicable margin equal to 2.25% per annum. Loans under the fixed rate tranche of the Term Facility bear interest at a rate of 4.75%. Loans under the Revolving Facility bear interest at a rate equal to an adjusted LIBOR rate plus an applicable margin equal to 1.625% per annum. Such rates are subject to decrease by up to 25 basis points in the event that, and for so long as, the Company’s net leverage ratio (as defined in the credit agreement) is less than certain thresholds. The floating rate tranche of the Term Facility was issued at par and the fixed rate tranche of the Term Facility was issued at a 0.25% discount in connection with the First Amendment. The variable rate tranche of the Term Facility was issued at a 0.25% discount in connection with the Second Amendment. The variable rate tranche has a 1% required amortization per year. The Company will pay certain fees under the credit agreement, including customary annual administration fees. The obligations of the Company under the Senior Secured Credit Facilities are unconditionally guaranteed jointly and severally by, subject to certain exceptions, all material domestic subsidiaries of the Company (the “Guarantors”) and secured, subject to certain exceptions, by a security interest in substantially all of the assets of the Company and the Guarantors. The credit agreement contains certain customary affirmative and negative covenants that limit or restrict the ability of the Company and its restricted subsidiaries to enter into certain transactions or take certain actions. In addition, the credit agreement contains a financial covenant that requires the Company, if on the last day of any fiscal quarter loans or letters of credit were outstanding under the Revolving Facility (excluding up to $25 million of letters of credit), to maintain a maximum net leverage ratio (as defined in the credit agreement) of 3.50 to 1.00 for the four fiscal quarters preceding such day. In connection with the Sivomatic acquisition, the Company incurred $113 million of short-term debt under the Revolving Facility. As of June 28, 2020, there were $100 million in outstanding loans and $9.4 million in letters of credit outstanding under the Revolving Facility. The Company is in compliance with all the covenants associated with the Revolving Facility as of the end of the period covered by this report. As part of the Sivomatic acquisition, the Company assumed $10.7 million in long-term debt, recorded at fair value, consisting of two term loans, one of which matures in 2020 and the other of which matures in 2022. These loans carry an interest rate of Euribor plus 2.0% and have quarterly repayments. During the first half of 2020, the Company repaid $1.0 million on these loans. The Company has a committed loan facility in Japan. As of June 28, 2020, $4.3 million was outstanding under this loan facility. Principal will be repaid in accordance with the payment schedule ending in 2021. The Company repaid $0.3 million on this facility during the first half of 2020. As of June 28, 2020, the Company had $41.8 million in uncommitted short-term bank credit lines, of which approximately $0.3 million was in use.

Benefit Plans

Benefit Plans	6 Months Ended
	Jun. 28, 2020
Benefit Plans [Abstract]
Benefit Plans	Note 11. Benefit Plans The Company and its subsidiaries have pension plans covering the majority of eligible employees on a contributory or non-contributory basis. The Company also provides postretirement health care and life insurance benefits for the majority of its U.S. retired employees. Disclosures for the U.S. plans have been combined with those outside of the U.S. as the international plans do not have significantly different assumptions, and together represent less than 21% of our total benefit obligation. Components of Net Periodic Benefit Cost Pension Benefits Three Months Ended Six Months Ended (millions of dollars) Jun. 28, 2020 Jun. 30, 2019 Jun. 28, 2020 Jun. 30, 2019 Service cost $ 2.0 $ 1.8 $ 3.9 $ 3.6 Interest cost 2.9 3.6 5.9 7.1 Expected return on plan assets (5.2 ) (4.6 ) (10.4 ) (9.2 ) Amortization: Prior service cost 0.1 0.1 0.2 0.2 Recognized net actuarial loss 2.8 2.3 5.6 4.6 Settlement loss 4.3 — 4.3 — Net periodic benefit cost $ 6.9 $ 3.2 $ 9.5 $ 6.3 Other Benefits Three Months Ended Six Months Ended (millions of dollars) Jun. 28, 2020 Jun. 30, 2019 Jun. 28, 2020 Jun. 30, 2019 Service cost $ — $ 0.1 $ 0.1 $ 0.1 Interest cost 0.1 — 0.1 0.1 Amortization: Recognized net actuarial (gain) loss (0.2 ) (0.2 ) (0.4 ) (0.4 ) Net periodic benefit cost $ (0.1 ) $ (0.1 ) $ (0.2 ) $ (0.2 ) Amortization amounts of prior service costs and recognized net actuarial losses are recorded, net of tax, as increases to accumulated other comprehensive income. The Company expects to contribute approximately $9.0 million to its pension plans and $0.3 million to its other postretirement benefit plans in 2020. As of June 28, 2020, $4.3 million has been contributed to the pension plans and approximately $0.1 million has been contributed to the other postretirement benefit plans.

Comprehensive Income

Comprehensive Income	6 Months Ended
	Jun. 28, 2020
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 (millions of dollars) Jun. 28, 2020 Jun. 30, 2019 Jun. 28, 2020 Jun. 30, 2019 Amortization of pension items: Pre-tax amount $ 7.0 $ 2.2 $ 9.7 $ 4.4 Tax (1.7 ) (0.5 ) (2.3 ) (1.1 ) Net of tax $ 5.3 $ 1.7 $ 7.4 $ 3.3 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: (millions of dollars) Foreign Currency Translation Adjustment Unrecognized Pension Costs Net Gain (Loss) on Derivative Instruments Total Balance as of December 31, 2019 $ (200.2 ) $ (96.1 ) $ 5.9 $ (290.4 ) Other comprehensive income (loss) before reclassifications (34.9 ) — 1.1 (33.8 ) Amounts reclassified from AOCI — 7.3 — 7.3 Net current period other comprehensive income (loss) (34.9 ) 7.3 1.1 (26.5 ) Balance as of June 28, 2020 $ (235.1 ) $ (88.8 ) $ 7.0 $ (316.9 )

Accounting for Asset Retirement

Accounting for Asset Retirement Obligations	6 Months Ended
	Jun. 28, 2020
Accounting for Asset Retirement Obligations [Abstract]
Accounting for Asset Retirement Obligations	Note 13. Accounting for Asset Retirement Obligations The Company records asset retirement obligations for situations in which the Company will be required to incur costs to retire tangible long-lived assets. The fair value of the liability for an asset retirement obligation is recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. The Company also records liabilities related to land reclamation as a part of asset retirement obligations. The Company mines various minerals using a surface mining process that requires the removal of overburden. In certain areas and under various governmental regulations, the Company is obligated to restore the land comprising each mining site to its original condition at the completion of the mining activity. The obligation is adjusted to reflect the passage of time, mining activities, and changes in estimated future cash outflows. The asset retirement costs are capitalized as part of the carrying amount of the associated asset. The current portion of the liability of approximately $0.4 million is included in other current liabilities and the long-term portion of the liability of approximately $23.2 million is included in other non-current liabilities in the Condensed Consolidated Balance Sheet as of June 28, 2020.

Contingencies

Contingencies	6 Months Ended
	Jun. 28, 2020
Contingencies [Abstract]
Contingencies	Note 14. Contingencies The Company is party to a number of lawsuits arising in the normal course of our business. Certain of the Company's subsidiaries are among numerous defendants in a number of cases seeking damages for exposure to silica or to asbestos containing materials. As of June 28, 2020, the Company currently has three pending silica cases and 176 pending asbestos cases. In total, 1,493 silica cases and 83 asbestos cases were dismissed as of the end of the first quarter, not including any lawsuits against AMCOL or American Colloid Company dismissed prior to our acquisition of AMCOL. Forty-six new asbestos cases were filed in the second quarter of 2020. Five asbestos cases and no silica cases were dismissed during the second quarter of 2020. Most of these claims do not provide adequate information to assess their merits, the likelihood that the Company will be found liable, or the magnitude of such liability, if any. Additional claims of this nature may be made against the Company or its subsidiaries. At this time management anticipates that the amount of the Company's liability, if any, and the cost of defending such claims, will not have a material effect on its financial position or results of operations. The Company has settled only one silica lawsuit, for a nominal amount, and no asbestos lawsuits to date (not including any that may have been settled by AMCOL prior to completion of the acquisition). We are unable to state an amount or range of amounts claimed in any of the lawsuits because state court pleading practices do not require identifying the amount of the claimed damage. The aggregate cost to the Company for the legal defense of these cases since inception continues to be insignificant. The majority of the costs of defense for these cases, excluding cases against AMCOL or American Colloid, are reimbursed by Pfizer Inc. pursuant to the terms of certain agreements entered into in connection with the Company's initial public offering in 1992. The Company is entitled to indemnification, pursuant to agreement, for sales prior to the initial public offering. Of the 176 pending asbestos cases as of the end of the second quarter, 136 of the non-AMCOL cases are subject to indemnification, in whole or in part, because the plaintiffs claim liability based on sales of products that occurred either entirely before the initial public offering, or both before and after the initial public offering. Thirty-three of the thirty-eight remaining non-AMCOL cases as of the end of the second quarter are subject to indemnity in part until dates of exposure, which were not alleged in the complaint, can be ascertained in discovery. In the five remaining non-AMCOL cases, exposure is alleged to have been after the Company's initial public offering in 1992. The remaining two cases involve AMCOL only, so no Pfizer indemnity is available. Our experience has been that the Company is not liable to plaintiffs in any of these lawsuits and the Company does not expect to pay any settlements or jury verdicts in these lawsuits. The Company is also the respondent in an arbitration requested by the Plan Administrator for the Bankruptcy Estate of Novinda Corp. (“Novinda”), a start-up company which declared bankruptcy in April 2016 and with which the Company had several relationships, including an equity and debt interest and a product supply relationship. On July 30, 2018, the Plan Administrator filed a Demand for Arbitration against the Company and certain of its officers for the alleged destruction of Novinda’s business. In the second quarter of 2020, the arbitration panel rendered an award in the arbitration, finding for the Company in part and for Novinda in part. The total amount of the award has not yet been finalized. The Company has recorded a charge of $ million related to this matter in the second quarter of 2020, representing its reasonable estimate of the damages, interest and costs awarded by the panel to Novinda. Environmental Matters On April 9, 2003, the Connecticut Department of Environmental Protection issued an administrative consent order relating to our Canaan, Connecticut plant where both our Refractories segment and Specialty Minerals segment have operations. We agreed to the order, which includes provisions requiring investigation and remediation of contamination associated with historic use of polychlorinated biphenyls ("PCBs") and mercury at a portion of the site. We have completed the required investigations and submitted several reports characterizing the contamination and assessing site-specific risks. We are awaiting regulators’ approval of the risk assessment report, which will form the basis for a proposal by the Company concerning eventual remediation. We believe that the most likely form of overall site remediation will be to leave the existing contamination in place (with some limited soil removal), encapsulate it, and monitor the effectiveness of the encapsulation. We anticipate that a substantial portion of the remediation cost will be borne by the United States based on its involvement at the site from 1942 – 1964, as historic documentation indicates that PCBs and mercury were first used at the facility at a time of U.S. government ownership for production of materials needed by the military. Pursuant to a Consent Decree entered on October 24, 2014, the United States paid the Company $2.3 million in the 4th quarter of 2014 to resolve the Company’s claim for response costs for investigation and initial remediation activities at this facility through October 24, 2014. Contribution by the United States to any future costs of investigation or additional remediation has, by agreement, been left unresolved. Though the cost of the likely remediation remains uncertain pending completion of the phased remediation decision process, we have estimated that the Company’s share of the cost of the encapsulation and limited soil removal described above would approximate $0.4 million, which has been accrued as of June 28, 2020. The Company is evaluating options for upgrading the wastewater treatment facilities at its Adams, Massachusetts plant. This work has been undertaken pursuant to an administrative Consent Order originally issued by the Massachusetts Department of Environmental Protection (“DEP”) on June 18, 2002. This order was amended on June 1, 2009 and on June 2, 2010. The amended Order includes the investigation by January 1, 2022 of options for ensuring that the facility's wastewater treatment ponds will not result in unpermitted discharge to groundwater. Additional requirements of the amendment include the submittal by July 1, 2022 of a plan for closure of a historic lime solids disposal area. Preliminary engineering reviews completed in 2005 indicate that the estimated cost of wastewater treatment upgrades to operate this facility beyond 2024 may be between $6 million and $8 million. The Company estimates that the remaining remediation costs would approximate $0.4 million, which has been accrued as of June 28, 2020. The Company and its subsidiaries are not party to any other material pending legal proceedings, other than routine litigation incidental to their businesses.

Segment and Related Information

Segment and Related Information	6 Months Ended
	Jun. 28, 2020
Segment and Related Information [Abstract]
Segment and Related Information	Note 15. Segment and Related Information The Company has four reportable segments: Performance Materials, Specialty Minerals, Refractories and Energy Services. See Note 1 to the Condensed Consolidated Financial Statements. Segment information for the three and six-month periods ended June 28, 2020 and June 30, 2019 is as follows: Three Months Ended Six Months Ended (millions of dollars) Jun. 28, 2020 Jun. 30, 2019 Jun. 28, 2020 Jun. 30, 2019 Net Sales Performance Materials $ 173.8 $ 215.4 $ 360.0 $ 414.6 Specialty Minerals 109.8 145.1 246.9 289.5 Refractories 55.9 77.5 124.9 151.3 Energy Services 17.7 25.8 42.9 46.1 Total $ 357.2 $ 463.8 $ 774.7 $ 901.5 Income from Operations Performance Materials $ 21.0 $ 20.7 $ 45.1 $ 47.0 Specialty Minerals 9.0 20.0 29.3 42.0 Refractories 5.9 7.1 17.1 19.2 Energy Services 1.4 0.9 4.6 3.3 Total $ 37.3 $ 48.7 $ 96.1 $ 111.5 A reconciliation of the totals reported for the operating segments to the applicable line items in the condensed consolidated financial statements is as follows: Three Months Ended Six Months Ended (millions of dollars) Jun. 28, 2020 Jun. 30, 2019 Jun. 28, 2020 Jun. 30, 2019 Income from operations for reportable segments $ 37.3 $ 48.7 $ 96.1 $ 111.5 Litigation expenses (8.3 ) — (8.9 ) — Unallocated and other corporate expenses (1.8 ) (3.2 ) (2.3 ) (4.0 ) Consolidated income from operations 27.2 45.5 84.9 107.5 Non-operating deductions, net (12.6 ) (13.3 ) (21.3 ) (26.1 ) Income from operations before tax and equity in earnings $ 14.6 $ 32.2 $ 63.6 $ 81.4 On a regular basis, the Company reviews its product line groupings to generate greater alignment within each product line. Accordingly, in the third quarter of 2019, the Company combined its Basic Minerals product line with its Household, Personal Care & Specialty Products product line, both within our Performance Materials segment. Prior year amounts were reclassified to conform to current presentation. The Company's sales by product category are as follows: Three Months Ended Six Months Ended (millions of dollars) Jun. 28, 2020 Jun. 30, 2019 Jun. 28, 2020 Jun. 30, 2019 Metalcasting $ 52.8 $ 75.8 $ 114.5 $ 149.0 Household, Personal Care & Specialty Products 87.9 91.5 184.1 186.3 Environmental Products 19.9 29.0 31.4 44.9 Building Materials 13.2 19.1 30.0 34.4 Performance Materials 173.8 215.4 360.0 414.6 Paper PCC 65.5 90.2 150.6 181.7 Specialty PCC 14.9 17.3 32.4 35.4 Ground Calcium Carbonate 20.6 24.8 43.2 47.1 Talc 8.8 12.8 20.7 25.3 Specialty Minerals 109.8 145.1 246.9 289.5 Refractory Products 47.1 61.0 102.9 123.0 Metallurgical Products 8.8 16.5 22.0 28.3 Refractories 55.9 77.5 124.9 151.3 Energy Services 17.7 25.8 42.9 46.1 Total $ 357.2 $ 463.8 $ 774.7 $ 901.5

Subsequent Event

Subsequent Event	6 Months Ended
	Jun. 28, 2020
Subsequent Event [Abstract]
Subsequent Event	Note 16. Subsequent Event On June 30, 2020, the Company issued $400 million aggregate principal amount of 5.0% Senior Notes due 2028 (the "Notes"). The Notes were issued pursuant to an indenture, dated as of June 30, 2020, between the Company and T he Bank of New York Mellon Trust Company, N.A., The Notes bear an interest rate of 5.0% per annum payable semi-annually on January 1 and July 1 of each year, beginning on January 1, 2021. The Notes are unconditionally guaranteed on a senior unsecured basis by each of the Company's existing and future wholly owned domestic restricted subsidiaries that is a borrower under or that guarantees the Company's obligations under its Senior Secured Credit Facilities or that guarantees the Company's or any of the Company's wholly owned domestic subsidiaries’ long-term indebtedness in an aggregate amount in excess of $50 million. At any time and from time to time prior to July 1, 2023, the Company may redeem some or all of the Notes for cash at a redemption price equal to 100% of their principal amount, plus the “make-whole” premium described in the Indenture and accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. Beginning on July 1, 2023, the Company may redeem some or all of the Notes at any time and from time to time at the applicable redemption prices listed in the Indenture, plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. In addition, at any time and from time to time prior to July 1, 2023, the Company may redeem up to 40% of the aggregate principal amount of the Notes with funds from one or more equity offerings at a redemption price equal to 105.000% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. If the Company experiences a change of control (as defined in the indenture), the Company is required to offer to repurchase the Notes at 101% of the principal amount of such Notes, plus accrued and unpaid interest, if any, to, but excluding, the date of repurchase. The indenture contains certain customary affirmative and negative covenants that limit or restrict the ability of the Company and its restricted subsidiaries to enter into certain transactions or take certain actions, as well as customary events of default.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 28, 2020
Basis of Presentation and Summary of Significant Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The Company employs accounting policies that are in accordance with U.S. generally accepted accounting principles and require management to make estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reported period. Significant estimates include those related to revenue recognition, valuation of long-lived assets, goodwill and other intangible assets, income taxes, including valuation allowances, and pension plan assumptions. Actual results could differ from those estimates.
Recently Adopted and Recently Issued Accounting Standards	Recently Adopted Accounting Standards Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued ASU 2016-13, "Measurement of Credit Losses on Financial Instruments", which replaces existing incurred loss impairment guidance and establishes a single allowance framework for financial assets carried at amortized cost. The Company adopted this guidance on January 1, 2020 using a modified retrospective transition method. The Company did not record a cumulative-effect adjustment upon adoption of this standard. Adoption of this standard did not have a material impact on the Company's consolidated financial statements. Recently Issued Accounting Standards Changes to accounting principles generally accepted in the United States of America (U.S. GAAP) are established by the Financial Accounting Standards Board (FASB) in the form of accounting standards updates (ASUs) to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial position and results of operations. Investments - Equity Securities, Investments - Equity Method and Joint Ventures, and Derivatives and Hedging In January 2020, the FASB issued ASU 2020-01, "Investments - Equity Securities, Investments - Equity Method and Joint Ventures, and Derivatives and Hedging", which addresses the accounting for the transition into and out of the equity method and measuring certain purchased options and forward contracts to acquire investments. The standard is effective for interim and annual periods beginning on or after December 15, 2020. The adoption of this standard is not expected to have a material impact on the Company's financial statements.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 28, 2020
Revenue from Contracts with Customers [Abstract]
Disaggregation of Revenue	The following table disaggregates our revenue by major source (product line) for the three and six-month periods ended June 28, 2020 and June 30, 2019 : (millions of dollars) Three Months Ended Six Months Ended Net Sales Jun. 28, 2020 Jun. 30, 2019 Jun. 28, 2020 Jun. 30, 2019 Metalcasting $ 52.8 $ 75.8 $ 114.5 $ 149.0 Household, Personal Care & Specialty Products 87.9 91.5 184.1 186.3 Environmental Products 19.9 29.0 31.4 44.9 Building Materials 13.2 19.1 30.0 34.4 Performance Materials 173.8 215.4 360.0 414.6 Paper PCC 65.5 90.2 150.6 181.7 Specialty PCC 14.9 17.3 32.4 35.4 Ground Calcium Carbonate 20.6 24.8 43.2 47.1 Talc 8.8 12.8 20.7 25.3 Specialty Minerals 109.8 145.1 246.9 289.5 Refractory Products 47.1 61.0 102.9 123.0 Metallurgical Products 8.8 16.5 22.0 28.3 Refractories 55.9 77.5 124.9 151.3 Energy Services 17.7 25.8 42.9 46.1 Total $ 357.2 $ 463.8 $ 774.7 $ 901.5

Earnings per Share (EPS) (Table

Earnings per Share (EPS) (Tables)	6 Months Ended
	Jun. 28, 2020
Earnings per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	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) Jun. 28, 2020 Jun. 30, 2019 Jun. 28, 2020 Jun. 30, 2019 Net income attributable to Minerals Technologies Inc. $ 14.4 $ 26.6 $ 53.0 $ 65.7 Weighted average shares outstanding 34.1 35.2 34.2 35.2 Dilutive effect of stock options and stock units — 0.1 0.1 0.1 Weighted average shares outstanding, adjusted 34.1 35.3 34.3 35.3 Basic earnings per share attributable to Minerals Technologies Inc. $ 0.42 $ 0.76 $ 1.55 $ 1.87 Diluted earnings per share attributable to Minerals Technologies Inc. $ 0.42 $ 0.75 $ 1.55 $ 1.86

Restructuring and Other Items_2

Restructuring and Other Items, net (Tables)	6 Months Ended
	Jun. 28, 2020
Restructuring and Other Items, net [Abstract]
Restructuring Charges by Segment	The following table outlines the amount of restructuring charges recorded within the Consolidated Statements of Income and the segments they relate to for the three and six-months ending June 28, 2020 and June 30, 2019: (millions of dollars) Jun. 28, 2020 Jun. 30, 2019 Asset Write-Downs Performance Materials $ — $ 4.2 Specialty Minerals 6.0 1.6 Energy Services — 1.7 Total charge for asset write-down $ 6.0 $ 7.5 Severance and other related costs Performance Materials $ — $ 2.8 Specialty Minerals 0.3 0.9 Refractories — 0.8 Energy Services — 0.1 Corporate — 1.1 Total severance and other related costs $ 0.3 $ 5.7 Other Corporate $ 0.2 $ — Total restructuring and other items, net $ 6.5 $ 13.2
Reconciliation of Restructuring Liability	The following table is a reconciliation of our restructuring liability balance as of June 28, 2020: (millions of dollars) Restructuring liability, December 31, 2019 $ 5.0 Additional provision 0.3 Cash payments (0.7 ) Restructuring liability, June 28, 2020 $ 4.6

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 28, 2020
Inventories [Abstract]
Inventories by Major Category	The following is a summary of inventories by major category: (millions of dollars) Jun. 28, 2020 Dec. 31, 2019 Raw materials $ 116.1 $ 105.9 Work-in-process 9.7 7.2 Finished goods 98.4 95.5 Packaging and supplies 45.6 44.7 Total inventories $ 269.8 $ 253.3

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 28, 2020
Goodwill and Other Intangible Assets [Abstract]
Intangible Assets Subject to Amortization	Intangible assets subject to amortization as of June 28, 2020 and December 31, 2019 were as follows: June 28, 2020 December 31, 2019 (millions of dollars) Weighted Average Useful Life (Years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Tradenames 35 $ 203.9 $ 35.4 $ 203.9 $ 32.5 Technology 13 18.8 8.8 18.8 8.0 Patents and trademarks 19 6.4 6.0 6.4 5.9 Customer relationships 22 24.8 5.2 24.7 4.4 32 $ 253.9 $ 55.4 $ 253.8 $ 50.8

Long-Term Debt and Commitments

Long-Term Debt and Commitments (Tables)	6 Months Ended
	Jun. 28, 2020
Long-Term Debt and Commitments [Abstract]
Long Term Debt	The following is a summary of long-term debt: ( millions of dollars) Jun. 28, 2020 December 31, 2019 Term Loan Facility-Variable Tranche due February 14, 2024, net of unamortized discount and deferred financing costs of $14.2 million and $16.0 million $ 643.7 $ 642.0 Term Loan Facility- Fixed Tranche due May 9, 2021, net of unamortized discount and deferred financing costs of $0.1 million and $0.2 million 147.9 177.8 Netherlands Term Loan due 2020 0.3 1.1 Netherlands Term Loan due 2022 0.7 1.0 Japan Loan Facilities 4.3 4.5 Total 796.9 826.4 Less: Current maturities 149.2 2.1 Total long-term debt $ 647.7 $ 824.3

Benefit Plans (Tables)

Benefit Plans (Tables)	6 Months Ended
	Jun. 28, 2020
Benefit Plans [Abstract]
Net Periodic Benefit Cost	Components of Net Periodic Benefit Cost Pension Benefits Three Months Ended Six Months Ended (millions of dollars) Jun. 28, 2020 Jun. 30, 2019 Jun. 28, 2020 Jun. 30, 2019 Service cost $ 2.0 $ 1.8 $ 3.9 $ 3.6 Interest cost 2.9 3.6 5.9 7.1 Expected return on plan assets (5.2 ) (4.6 ) (10.4 ) (9.2 ) Amortization: Prior service cost 0.1 0.1 0.2 0.2 Recognized net actuarial loss 2.8 2.3 5.6 4.6 Settlement loss 4.3 — 4.3 — Net periodic benefit cost $ 6.9 $ 3.2 $ 9.5 $ 6.3 Other Benefits Three Months Ended Six Months Ended (millions of dollars) Jun. 28, 2020 Jun. 30, 2019 Jun. 28, 2020 Jun. 30, 2019 Service cost $ — $ 0.1 $ 0.1 $ 0.1 Interest cost 0.1 — 0.1 0.1 Amortization: Recognized net actuarial (gain) loss (0.2 ) (0.2 ) (0.4 ) (0.4 ) Net periodic benefit cost $ (0.1 ) $ (0.1 ) $ (0.2 ) $ (0.2 )

Comprehensive Income (Tables)

Comprehensive Income (Tables)	6 Months Ended
	Jun. 28, 2020
Comprehensive Income [Abstract]
Reclassifications Out of Accumulated Other Comprehensive Loss	The following table summarizes the amounts reclassified out of accumulated other comprehensive loss attributable to the Company: Three Months Ended Six Months Ended (millions of dollars) Jun. 28, 2020 Jun. 30, 2019 Jun. 28, 2020 Jun. 30, 2019 Amortization of pension items: Pre-tax amount $ 7.0 $ 2.2 $ 9.7 $ 4.4 Tax (1.7 ) (0.5 ) (2.3 ) (1.1 ) Net of tax $ 5.3 $ 1.7 $ 7.4 $ 3.3
Accumulated Other Comprehensive Loss, Net of Related Tax	The major components of accumulated other comprehensive loss, net of related tax, attributable to MTI are as follows: (millions of dollars) Foreign Currency Translation Adjustment Unrecognized Pension Costs Net Gain (Loss) on Derivative Instruments Total Balance as of December 31, 2019 $ (200.2 ) $ (96.1 ) $ 5.9 $ (290.4 ) Other comprehensive income (loss) before reclassifications (34.9 ) — 1.1 (33.8 ) Amounts reclassified from AOCI — 7.3 — 7.3 Net current period other comprehensive income (loss) (34.9 ) 7.3 1.1 (26.5 ) Balance as of June 28, 2020 $ (235.1 ) $ (88.8 ) $ 7.0 $ (316.9 )

Segment and Related Informati_2

Segment and Related Information (Tables)	6 Months Ended
	Jun. 28, 2020
Segment and Related Information [Abstract]
Segment Information	The Company has four reportable segments: Performance Materials, Specialty Minerals, Refractories and Energy Services. See Note 1 to the Condensed Consolidated Financial Statements. Segment information for the three and six-month periods ended June 28, 2020 and June 30, 2019 is as follows: Three Months Ended Six Months Ended (millions of dollars) Jun. 28, 2020 Jun. 30, 2019 Jun. 28, 2020 Jun. 30, 2019 Net Sales Performance Materials $ 173.8 $ 215.4 $ 360.0 $ 414.6 Specialty Minerals 109.8 145.1 246.9 289.5 Refractories 55.9 77.5 124.9 151.3 Energy Services 17.7 25.8 42.9 46.1 Total $ 357.2 $ 463.8 $ 774.7 $ 901.5 Income from Operations Performance Materials $ 21.0 $ 20.7 $ 45.1 $ 47.0 Specialty Minerals 9.0 20.0 29.3 42.0 Refractories 5.9 7.1 17.1 19.2 Energy Services 1.4 0.9 4.6 3.3 Total $ 37.3 $ 48.7 $ 96.1 $ 111.5
Reconciliation of Income from Operations	A reconciliation of the totals reported for the operating segments to the applicable line items in the condensed consolidated financial statements is as follows: Three Months Ended Six Months Ended (millions of dollars) Jun. 28, 2020 Jun. 30, 2019 Jun. 28, 2020 Jun. 30, 2019 Income from operations for reportable segments $ 37.3 $ 48.7 $ 96.1 $ 111.5 Litigation expenses (8.3 ) — (8.9 ) — Unallocated and other corporate expenses (1.8 ) (3.2 ) (2.3 ) (4.0 ) Consolidated income from operations 27.2 45.5 84.9 107.5 Non-operating deductions, net (12.6 ) (13.3 ) (21.3 ) (26.1 ) Income from operations before tax and equity in earnings $ 14.6 $ 32.2 $ 63.6 $ 81.4
Sales by Product Category	The Company's sales by product category are as follows: Three Months Ended Six Months Ended (millions of dollars) Jun. 28, 2020 Jun. 30, 2019 Jun. 28, 2020 Jun. 30, 2019 Metalcasting $ 52.8 $ 75.8 $ 114.5 $ 149.0 Household, Personal Care & Specialty Products 87.9 91.5 184.1 186.3 Environmental Products 19.9 29.0 31.4 44.9 Building Materials 13.2 19.1 30.0 34.4 Performance Materials 173.8 215.4 360.0 414.6 Paper PCC 65.5 90.2 150.6 181.7 Specialty PCC 14.9 17.3 32.4 35.4 Ground Calcium Carbonate 20.6 24.8 43.2 47.1 Talc 8.8 12.8 20.7 25.3 Specialty Minerals 109.8 145.1 246.9 289.5 Refractory Products 47.1 61.0 102.9 123.0 Metallurgical Products 8.8 16.5 22.0 28.3 Refractories 55.9 77.5 124.9 151.3 Energy Services 17.7 25.8 42.9 46.1 Total $ 357.2 $ 463.8 $ 774.7 $ 901.5

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Details)	6 Months Ended
	Jun. 28, 2020Segment
Basis of Presentation and Summary of Significant Accounting Policies [Abstract]
Number of reportable segments	4

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Disaggregation of Revenue [Abstract]
Total net sales	$ 357.2	$ 463.8	$ 774.7	$ 901.5
Performance Materials [Member]
Disaggregation of Revenue [Abstract]
Total net sales	173.8	215.4	360	414.6
Performance Materials [Member] | Metalcasting [Member]
Disaggregation of Revenue [Abstract]
Total net sales	52.8	75.8	114.5	149
Performance Materials [Member] | Household, Personal Care & Specialty Products [Member]
Disaggregation of Revenue [Abstract]
Total net sales	87.9	91.5	184.1	186.3
Performance Materials [Member] | Environmental Products [Member]
Disaggregation of Revenue [Abstract]
Total net sales	19.9	29	31.4	44.9
Performance Materials [Member] | Building Materials [Member]
Disaggregation of Revenue [Abstract]
Total net sales	13.2	19.1	30	34.4
Specialty Minerals [Member]
Disaggregation of Revenue [Abstract]
Total net sales	109.8	145.1	246.9	289.5
Specialty Minerals [Member] | Paper PCC [Member]
Disaggregation of Revenue [Abstract]
Total net sales	65.5	90.2	150.6	181.7
Specialty Minerals [Member] | Specialty PCC [Member]
Disaggregation of Revenue [Abstract]
Total net sales	14.9	17.3	32.4	35.4
Specialty Minerals [Member] | Ground Calcium Carbonate [Member]
Disaggregation of Revenue [Abstract]
Total net sales	20.6	24.8	43.2	47.1
Specialty Minerals [Member] | Talc [Member]
Disaggregation of Revenue [Abstract]
Total net sales	8.8	12.8	20.7	25.3
Refractories [Member]
Disaggregation of Revenue [Abstract]
Total net sales	55.9	77.5	124.9	151.3
Refractories [Member] | Refractory Products [Member]
Disaggregation of Revenue [Abstract]
Total net sales	47.1	61	102.9	123
Refractories [Member] | Metallurgical Products [Member]
Disaggregation of Revenue [Abstract]
Total net sales	8.8	16.5	22	28.3
Energy Services [Member]
Disaggregation of Revenue [Abstract]
Total net sales	$ 17.7	$ 25.8	$ 42.9	$ 46.1

Earnings per Share (EPS) (Detai

Earnings per Share (EPS) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Earnings per Share [Abstract]
Net income attributable to Minerals Technologies Inc.	$ 14.4	$ 26.6	$ 53	$ 65.7
Weighted average shares outstanding (in shares)	34,100,000	35,200,000	34,200,000	35,200,000
Dilutive effect of stock options and stock units (in shares)	0	100,000	100,000	100,000
Weighted average shares outstanding, adjusted (in shares)	34,100,000	35,300,000	34,300,000	35,300,000
Basic earnings per share attributable to Minerals Technologies Inc. (in dollars per share)	$ 0.42	$ 0.76	$ 1.55	$ 1.87
Diluted earnings per share attributable to Minerals Technologies Inc. (in dollars per share)	$ 0.42	$ 0.75	$ 1.55	$ 1.86
Stock Options [Member]
Earnings per Share [Abstract]
Anti-dilutive securities not included in the weighted average commons shares outstanding calculation (in shares)	1,448,699	470,304	1,448,699	470,304

Restructuring and Other Items_3

Restructuring and Other Items, net (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2020USD ($)Mill	Jun. 30, 2019USD ($)	Jun. 28, 2020USD ($)Mill	Jun. 30, 2019USD ($)
Restructuring Charges [Abstract]
Impairment of assets	$ 6	$ 7.5	$ 6	$ 7.5
Severance and other employee costs	0.3	5.7	0.3	5.7
Total restructuring and other items, net	6.5	13.2	6.5	13.2
Restructuring Reserve [Roll Forward]
Restructuring liability, beginning of period			5
Additional provision			0.3
Cash payments			(0.7)
Restructuring liability, ending of period	4.6		4.6
Performance Materials [Member]
Restructuring Charges [Abstract]
Impairment of assets	0	4.2	0	4.2
Severance and other employee costs	0	2.8	0	2.8
Specialty Minerals [Member]
Restructuring Charges [Abstract]
Impairment of assets	6	1.6	6	1.6
Severance and other employee costs	0.3	0.9	0.3	0.9
Refractories [Member]
Restructuring Charges [Abstract]
Severance and other employee costs	0	0.8	0	0.8
Energy Services [Member]
Restructuring Charges [Abstract]
Impairment of assets	0	1.7	0	1.7
Severance and other employee costs	0	0.1	0	0.1
Corporate [Member]
Restructuring Charges [Abstract]
Severance and other employee costs	0	1.1	0	1.1
Other	$ 0.2	$ 0	$ 0.2	$ 0
Verso Papers [Member]
Restructuring and Other Items, Net [Abstract]
Number of paper mills being idled indefinitely | Mill	2		2

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Income Taxes [Abstract]
Provision for taxes on income	$ 0.9	$ 5.1	$ 10.6	$ 14.4
Effective income tax rate	6.20%	15.80%
Amount of unrecognized tax benefits	$ 8.2		8.2
Unrecognized tax benefits that would impact effective tax rate	5.5		5.5
Unrecognized tax benefits, net decrease in penalties and interest expenses	0.1		0.2
Unrecognized tax benefits, accrued interest and penalties	$ 2.2		$ 2.2

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 28, 2020		Dec. 31, 2019
Inventories [Abstract]
Raw materials	$ 116.1		$ 105.9
Work-in-process	9.7		7.2
Finished goods	98.4		95.5
Packaging and supplies	45.6		44.7
Total inventories	$ 269.8	[1]	$ 253.3	[2]
[1]	Unaudited
[2]	Condensed from audited financial statements

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 28, 2020		Dec. 31, 2019
Goodwill and Other Intangible Assets [Abstract]
Goodwill	$ 805.8	[1]	$ 807.4	[2]
Intangible Assets Subject to Amortization [Abstract]
Weighted average useful life	32 years
Gross carrying amount	$ 253.9		253.8
Accumulated amortization	$ 55.4		50.8
Future Amortization Expense [Abstract]
Weighted average amortization period	32 years
Estimated amortization expense, remainder of 2020	$ 4.8
Estimated amortization expense, 2021	36.4
Estimated amortization expense, 2022	36.4
Estimated amortization expense, 2023	36.4
Estimated amortization expense, 2024	36.4
Estimated amortization expense, thereafter	$ 157.3
Tradenames [Member]
Intangible Assets Subject to Amortization [Abstract]
Weighted average useful life	35 years
Gross carrying amount	$ 203.9		203.9
Accumulated amortization	$ 35.4		32.5
Technology [Member]
Intangible Assets Subject to Amortization [Abstract]
Weighted average useful life	13 years
Gross carrying amount	$ 18.8		18.8
Accumulated amortization	$ 8.8		8
Patents and Trademarks [Member]
Intangible Assets Subject to Amortization [Abstract]
Weighted average useful life	19 years
Gross carrying amount	$ 6.4		6.4
Accumulated amortization	$ 6		5.9
Customer Relationships [Member]
Intangible Assets Subject to Amortization [Abstract]
Weighted average useful life	22 years
Gross carrying amount	$ 24.8		24.7
Accumulated amortization	$ 5.2		$ 4.4
[1]	Unaudited
[2]	Condensed from audited financial statements

Derivative Financial Instrume_2

Derivative Financial Instruments (Details) - Designated as Hedging Instrument [Member] - USD ($) $ in Millions	Jun. 28, 2020	Jul. 01, 2018	Jul. 03, 2016
Cash Flow Hedge [Member] | Interest Rate Swap [Member]
Derivative, Fair Value [Abstract]
Notional amount		$ 150
Cash Flow Hedge [Member] | Interest Rate Swap [Member] | Other Non-Current Liabilities [Member]
Derivative, Fair Value [Abstract]
Fair value of derivative liability	$ 9.2
Cash Flow Hedge [Member] | Interest Rate Swap [Member]
Derivative, Fair Value [Abstract]
Notional amount	57		$ 300
Cash Flow Hedge [Member] | Interest Rate Swap [Member] | Other Current Liabilities [Member]
Derivative, Fair Value [Abstract]
Fair value of derivative liability	0.2
Net Investment Hedge [Member] | Cross Currency Rate Swap [Member]
Derivative, Fair Value [Abstract]
Notional amount		$ 150
Net Investment Hedge [Member] | Cross Currency Rate Swap [Member] | Other Assets and Deferred Charges [Member]
Derivative, Fair Value [Abstract]
Fair value of derivative asset	$ 15.1

Long-Term Debt and Commitment_2

Long-Term Debt and Commitments (Details) $ in Millions	Feb. 14, 2017USD ($)	Jun. 28, 2020USD ($)		Mar. 29, 2020USD ($)	Jun. 28, 2020USD ($)Loanqtr		Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2019USD ($)		Jun. 23, 2015USD ($)	May 09, 2014USD ($)
Long-Term Debt and Commitments [Abstract]
Long-term debt		$ 796.9			$ 796.9				$ 826.4
Less: Current maturities		149.2	[1]		149.2	[1]			2.1	[2]
Total long-term debt		647.7	[1]		647.7	[1]			824.3	[2]
Repayment of long-term debt					31.3		$ 36.6
Short-term debt		100.3	[1]		$ 100.3	[1]			101.2	[2]
Maximum [Member]
Long-Term Debt and Commitments [Abstract]
Net leverage ratio					3.50
Sivomatic [Member]
Long-Term Debt and Commitments [Abstract]
Long-term debt assumed as part of acquisition					$ 10.7
Credit Agreement [Member]
Long-Term Debt and Commitments [Abstract]
Letters of credit excluded from financial covenant		25			$ 25
Number of quarters to maintain net leverage ratio under financial covenant | qtr					4
Term Facility [Member]
Long-Term Debt and Commitments [Abstract]
Long-term debt											$ 1,378
Face amount												$ 1,560
Term Loan Facility - Variable Tranche [Member]
Long-Term Debt and Commitments [Abstract]
Long-term debt	$ 788	643.7			$ 643.7				642		1,078
Unamortized discount and deferred financing costs		$ 14.2			$ 14.2				16
Maturity date					Feb. 14, 2024
Decrease in basis spread on variable rate	(0.75%)
Debt discount percentage at issuance		0.25%
Required annual amortization		1.00%
Term Loan Facility - Variable Tranche [Member] | Minimum [Member]
Long-Term Debt and Commitments [Abstract]
Interest rate		0.75%			0.75%
Term Loan Facility - Variable Tranche [Member] | LIBOR [Member]
Long-Term Debt and Commitments [Abstract]
Basis spread on variable rate		2.25%
Term Loan Facility - Fixed Tranche [Member]
Long-Term Debt and Commitments [Abstract]
Long-term debt		$ 147.9			$ 147.9				177.8		$ 300
Unamortized discount and deferred financing costs		$ 0.1			$ 0.1				0.2
Maturity date					May 9, 2021
Interest rate		4.75%			4.75%
Debt discount percentage at issuance		0.25%
Revolving Facility [Member]
Long-Term Debt and Commitments [Abstract]
Maturity date					Apr. 18, 2023
Maximum borrowing capacity		$ 300			$ 300							$ 200
Proceeds from issuance of short-term debt								$ 113
Short-term debt		100			100
Letters of credit outstanding		$ 9.4			$ 9.4
Revolving Facility [Member] | Maximum [Member]
Long-Term Debt and Commitments [Abstract]
Decrease in basis spread if net leverage ratio is less than certain thresholds					(0.25%)
Revolving Facility [Member] | LIBOR [Member]
Long-Term Debt and Commitments [Abstract]
Basis spread on variable rate		1.625%
Netherlands Term Loans [Member]
Long-Term Debt and Commitments [Abstract]
Number of term loans | Loan					2
Repayment of long-term debt				$ 1
Netherlands Term Loans [Member] | Euribor [Member]
Long-Term Debt and Commitments [Abstract]
Basis spread on variable rate		2.00%
Netherlands Term Loan Due 2020 [Member]
Long-Term Debt and Commitments [Abstract]
Long-term debt		$ 0.3			$ 0.3				1.1
Netherlands Term Loan Due 2022 [Member]
Long-Term Debt and Commitments [Abstract]
Long-term debt		0.7			0.7				1
Japan Loan Facilities [Member]
Long-Term Debt and Commitments [Abstract]
Long-term debt		4.3			4.3				$ 4.5
Repayment of long-term debt				$ 0.3
Uncommitted Short-Term Bank Credit Lines [Member]
Long-Term Debt and Commitments [Abstract]
Maximum borrowing capacity		41.8			41.8
Short-term debt		$ 0.3			$ 0.3
[1]	Unaudited
[2]	Condensed from audited financial statements

Benefit Plans (Details)

Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Benefit Plans [Abstract]
Maximum percentage of total benefit obligation represented by international pension plans	21.00%		21.00%
Pension Benefits [Member]
Components of Net Periodic Benefit Cost [Abstract]
Service cost	$ 2	$ 1.8	$ 3.9	$ 3.6
Interest cost	2.9	3.6	5.9	7.1
Expected return on plan assets	(5.2)	(4.6)	(10.4)	(9.2)
Amortization of prior service cost	0.1	0.1	0.2	0.2
Amortization of recognized net actuarial (gain) loss	2.8	2.3	5.6	4.6
Amortization of settlement loss	4.3	0	4.3	0
Net periodic benefit cost	6.9	3.2	9.5	6.3
Employer Contributions [Abstract]
Expected employer contributions to benefit plans in 2020	9		9
Employer contributions to benefit plans			4.3
Post-Retirement Benefits [Member]
Components of Net Periodic Benefit Cost [Abstract]
Service cost	0	0.1	0.1	0.1
Interest cost	0.1	0	0.1	0.1
Amortization of recognized net actuarial (gain) loss	(0.2)	(0.2)	(0.4)	(0.4)
Net periodic benefit cost	(0.1)	$ (0.1)	(0.2)	$ (0.2)
Employer Contributions [Abstract]
Expected employer contributions to benefit plans in 2020	$ 0.3		0.3
Employer contributions to benefit plans			$ 0.1

Comprehensive Income, Reclassif

Comprehensive Income, Reclassification Out of Accumulated Other Comprehensive Loss (Details) - Pension Costs [Member] - Reclassification out of Accumulated Other Comprehensive Loss [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Amortization of pension items [Abstract]
Pre-tax amount	$ 7	$ 2.2	$ 9.7	$ 4.4
Tax	(1.7)	(0.5)	(2.3)	(1.1)
Net of tax	$ 5.3	$ 1.7	$ 7.4	$ 3.3

Comprehensive Income, Accumulat

Comprehensive Income, Accumulated Other Comprehensive Loss, Net of Related Tax (Details) - USD ($) $ in Millions		3 Months Ended				6 Months Ended
		Jun. 28, 2020	Mar. 29, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 28, 2020	Jun. 30, 2019
Components of Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Balance at beginning of period	[1]		$ 1,402.7			$ 1,402.7
Total other comprehensive income (loss), net of tax		$ 12.4	(39.2)	$ (20.3)	$ 2.4	(26.8)	$ (17.9)
Balance at end of period	[2]	1,406.5				1,406.5
Accumulated Other Comprehensive Income (Loss) [Member]
Components of Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Balance at beginning of period			(290.4)			(290.4)
Other comprehensive income (loss) before reclassifications						(33.8)
Amounts reclassified from AOCI						7.3
Total other comprehensive income (loss), net of tax		11.3	(37.8)	$ (20.1)	$ 1.9	(26.5)
Balance at end of period		(316.9)				(316.9)
Foreign Currency Translation Adjustment [Member]
Components of Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Balance at beginning of period			(200.2)			(200.2)
Other comprehensive income (loss) before reclassifications						(34.9)
Amounts reclassified from AOCI						0
Total other comprehensive income (loss), net of tax						(34.9)
Balance at end of period		(235.1)				(235.1)
Unrecognized Pension Costs [Member]
Components of Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Balance at beginning of period			(96.1)			(96.1)
Other comprehensive income (loss) before reclassifications						0
Amounts reclassified from AOCI						7.3
Total other comprehensive income (loss), net of tax						7.3
Balance at end of period		(88.8)				(88.8)
Net Gain (Loss) on Derivative Instruments [Member]
Components of Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Balance at beginning of period			$ 5.9			5.9
Other comprehensive income (loss) before reclassifications						1.1
Amounts reclassified from AOCI						0
Total other comprehensive income (loss), net of tax						1.1
Balance at end of period		$ 7				$ 7
[1]	Condensed from audited financial statements
[2]	Unaudited

Accounting for Asset Retireme_2

Accounting for Asset Retirement Obligations (Details) $ in Millions	Jun. 28, 2020USD ($)
Asset Retirement Obligation [Abstract]
Asset retirement obligation, current portion	$ 0.4
Asset retirement obligation, noncurrent portion	$ 23.2

Contingencies (Details)

Contingencies (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2020USD ($)Case	Dec. 31, 2014USD ($)	Jun. 28, 2020USD ($)Case
Silica Cases [Member]
Contingencies [Abstract]
Number of pending cases	3		3
Cumulative number of cases dismissed	1,493		1,493
Number of cases dismissed	0
Number of lawsuits settled			1
Asbestos Cases [Member]
Contingencies [Abstract]
Number of pending cases	176		176
Cumulative number of cases dismissed	83		83
Number of new cases filed	46
Number of cases dismissed	5
Number of lawsuits settled			0
Non-AMCOL Asbestos Cases [Member]
Contingencies [Abstract]
Number of cases subject to indemnification	136		136
Number of remaining cases subject to indemnity until dates of exposure	33		33
Number of remaining cases	38		38
Number of remaining cases alleging exposure occurred after initial public offering	5		5
AMCOL Asbestos Cases [Member]
Contingencies [Abstract]
Number of remaining cases with no available indemnity	2		2
Bankruptcy Estate of Novinda [Member]
Contingencies [Abstract]
Damages, interest and costs awarded to Novinda in arbitration | $	$ 8
Total litigation expenses | $	11.8		$ 11.8
Litigation expense | $			0.9
Canaan, Connecticut Plant [Member]
Site Contingency [Abstract]
Consent decree paid by US government | $		$ 2.3
Accrued remediation costs | $	0.4		0.4
Adams, Massachusetts Plant [Member]
Site Contingency [Abstract]
Accrued remediation costs | $	0.4		0.4
Adams, Massachusetts Plant [Member] | Minimum [Member]
Site Contingency [Abstract]
Estimated cost of wastewater treatment upgrades | $	6		6
Adams, Massachusetts Plant [Member] | Maximum [Member]
Site Contingency [Abstract]
Estimated cost of wastewater treatment upgrades | $	$ 8		$ 8

Segment and Related Informati_3

Segment and Related Information, Segment Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 28, 2020USD ($)Segment	Jun. 30, 2019USD ($)
Segment Reporting Information [Abstract]
Number of reportable segments | Segment			4
Net sales	$ 357.2	$ 463.8	$ 774.7	$ 901.5
Income from operations	27.2	45.5	84.9	107.5
Performance Materials [Member]
Segment Reporting Information [Abstract]
Net sales	173.8	215.4	360	414.6
Specialty Minerals [Member]
Segment Reporting Information [Abstract]
Net sales	109.8	145.1	246.9	289.5
Refractories [Member]
Segment Reporting Information [Abstract]
Net sales	55.9	77.5	124.9	151.3
Energy Services [Member]
Segment Reporting Information [Abstract]
Net sales	17.7	25.8	42.9	46.1
Reportable Segments [Member]
Segment Reporting Information [Abstract]
Net sales	357.2	463.8	774.7	901.5
Income from operations	37.3	48.7	96.1	111.5
Reportable Segments [Member] | Performance Materials [Member]
Segment Reporting Information [Abstract]
Net sales	173.8	215.4	360	414.6
Income from operations	21	20.7	45.1	47
Reportable Segments [Member] | Specialty Minerals [Member]
Segment Reporting Information [Abstract]
Net sales	109.8	145.1	246.9	289.5
Income from operations	9	20	29.3	42
Reportable Segments [Member] | Refractories [Member]
Segment Reporting Information [Abstract]
Net sales	55.9	77.5	124.9	151.3
Income from operations	5.9	7.1	17.1	19.2
Reportable Segments [Member] | Energy Services [Member]
Segment Reporting Information [Abstract]
Net sales	17.7	25.8	42.9	46.1
Income from operations	$ 1.4	$ 0.9	$ 4.6	$ 3.3

Segment and Related Informati_4

Segment and Related Information, Reconciliation of Income from Operations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Income from Operations before Tax and Equity in Earnings [Abstract]
Litigation expenses	$ (8.3)	$ 0	$ (8.9)	$ 0
Consolidated income from operations	27.2	45.5	84.9	107.5
Non-operating deductions, net	(12.6)	(13.3)	(21.3)	(26.1)
Income from operations before tax and equity in earnings	14.6	32.2	63.6	81.4
Reportable Segments [Member]
Income from Operations before Tax and Equity in Earnings [Abstract]
Consolidated income from operations	37.3	48.7	96.1	111.5
Unallocated and Other Corporate Expenses [Member]
Income from Operations before Tax and Equity in Earnings [Abstract]
Consolidated income from operations	$ (1.8)	$ (3.2)	$ (2.3)	$ (4)

Segment and Related Informati_5

Segment and Related Information, Sales By Product Category (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Revenue from External Customer [Abstract]
Net sales	$ 357.2	$ 463.8	$ 774.7	$ 901.5
Performance Materials [Member]
Revenue from External Customer [Abstract]
Net sales	173.8	215.4	360	414.6
Specialty Minerals [Member]
Revenue from External Customer [Abstract]
Net sales	109.8	145.1	246.9	289.5
Refractories [Member]
Revenue from External Customer [Abstract]
Net sales	55.9	77.5	124.9	151.3
Energy Services [Member]
Revenue from External Customer [Abstract]
Net sales	17.7	25.8	42.9	46.1
Metalcasting [Member] | Performance Materials [Member]
Revenue from External Customer [Abstract]
Net sales	52.8	75.8	114.5	149
Household, Personal Care & Specialty Products [Member] | Performance Materials [Member]
Revenue from External Customer [Abstract]
Net sales	87.9	91.5	184.1	186.3
Environmental Products [Member] | Performance Materials [Member]
Revenue from External Customer [Abstract]
Net sales	19.9	29	31.4	44.9
Building Materials [Member] | Performance Materials [Member]
Revenue from External Customer [Abstract]
Net sales	13.2	19.1	30	34.4
Paper PCC [Member] | Specialty Minerals [Member]
Revenue from External Customer [Abstract]
Net sales	65.5	90.2	150.6	181.7
Specialty PCC [Member] | Specialty Minerals [Member]
Revenue from External Customer [Abstract]
Net sales	14.9	17.3	32.4	35.4
Ground Calcium Carbonate [Member] | Specialty Minerals [Member]
Revenue from External Customer [Abstract]
Net sales	20.6	24.8	43.2	47.1
Talc [Member] | Specialty Minerals [Member]
Revenue from External Customer [Abstract]
Net sales	8.8	12.8	20.7	25.3
Refractory Products [Member] | Refractories [Member]
Revenue from External Customer [Abstract]
Net sales	47.1	61	102.9	123
Metallurgical Products [Member] | Refractories [Member]
Revenue from External Customer [Abstract]
Net sales	$ 8.8	$ 16.5	$ 22	$ 28.3

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event [Member] - 5.0% Senior Notes Due 2028 [Member] $ in Millions	Jun. 30, 2020USD ($)
Subsequent Event [Abstract]
Face amount	$ 400
Interest rate	5.00%
Guarantee amount	$ 50
Redemption of Notes for Cash Prior to July 1, 2023 [Member]
Subsequent Event [Abstract]
Redemption price percentage	100.00%
Redemption of Notes with Funds from One or More Equity Offerings Prior to July 1, 2023 [Member]
Subsequent Event [Abstract]
Redemption price percentage	105.00%
Percentage of aggregate principal amount that can be redeemed	40.00%
Redemption of Notes if Company Experiences Change of Control [Member]
Subsequent Event [Abstract]
Redemption price percentage	101.00%