In the release issued under this headline earlier today by
- Record Fourth Quarter and Full Year Operating Income and Earnings Per Share Excluding Special Items
- Delivered Full Year Operating Margin a Year Ahead of Target
- Continued Strong Free Cash Flow
- Improved Balance Sheet Strength by Increasing Liquidity and Extending Debt Maturities
“This was an outstanding year for MTI. We delivered record operating income and earnings per share, significantly expanded margins, strengthened our balance sheet, and increased returns to shareholders. We also made significant progress on our growth strategies by introducing new products and technologies, expanding in strategic regions, and strengthening positions across our product lines,” said
Fourth Quarter 2024
Fourth quarter worldwide net sales were
Reported operating income was
The Company recorded special items of
The Consumer & Specialties segment provides technologically enhanced products to consumer-driven end markets, including mineral-to-market household products, as well as specialty additives that become functional components in a variety of consumer and industrial goods. This segment includes two product lines, Household & Personal Care and Specialty Additives.
Consumer & Specialties segment sales were
Household & Personal Care sales were
Segment operating income increased 4 percent over the prior year to
The Engineered Solutions segment provides advanced process technologies and solutions that are designed to improve our customers’ manufacturing processes and projects. This segment includes two product lines, High-Temperature Technologies and Environmental & Infrastructure.
Engineered Solutions segment sales were
High-Temperature Technologies sales were
Segment reported operating income was
Full Year 2024
Full year worldwide net sales were
Reported operating income was
Cash flow from operations was
Consumer & Specialties segment sales were
Household & Personal Care sales were
driven by increased sales in pet care and other consumer-oriented products. Specialty Additives sales were
Segment operating income was
Engineered Solutions segment sales were
High-Temperature Technologies sales were
Segment reported operating income was
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FORWARD-LOOKING STATEMENTS
This press release may contain "forward‐looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations and forecasts of future events such as new products, revenues, and financial performance, and are not limited to describing historical or current facts. They can be identified by the use of words such as “believes,” “expects,” “plans,” “intends,” “anticipates,” and other words and phrases of similar meaning. Forward-looking statements are necessarily based on assumptions, estimates, and limited information available at the time they are made. A broad variety of risks and uncertainties, both known and unknown, as well as the inaccuracy of assumptions and estimates, can affect the realization of the expectations or forecasts in these statements. Actual future results may vary materially. Significant factors that could affect the expectations and forecasts include worldwide general economic, business, and industry conditions; the cyclicality of our customers’ businesses and their changing regional demands; our ability to compete in very competitive industries; consolidation in customer industries, principally paper, foundry, and steel; our ability to renew or extend long term sales contracts for our satellite operations; our ability to generate cash to service our debt; our ability to comply with the covenants in the agreements governing our debt; our ability to effectively achieve and implement our growth initiatives or consummate the transactions described in the statements; our ability to successfully develop new products; our ability to defend our intellectual property; the increased risks of doing business abroad; the availability of raw materials and access to ore reserves at our mining operations, or increases in costs of raw materials, energy, or shipping; compliance with or changes to regulation in the areas of environmental, health and safety, and tax; risks and uncertainties related to the voluntary petitions for relief under Chapter 11 of the
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About
Investor Relations Contact
Lydia.kopylova@mineralstech.com
Media Contact
stephanie.heise@mineralstech.com
CONDENSED CONSOLIDATED STATEMENTS OF INCOME | |||||||||||||||||||||||||||||
(in millions, except per share data) | |||||||||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||||||
Quarter Ended | % Growth | Twelve Months Ended | % Growth | ||||||||||||||||||||||||||
, | , | , | Prior Qtr. | Prior Year | , | , | Prior Year | ||||||||||||||||||||||
Net sales | $ | 518.1 | $ | 524.7 | $ | 524.5 | (1)% | (1)% | $ | 2,118.5 | $ | 2,169.9 | (2)% | ||||||||||||||||
Cost of goods sold | 385.4 | 389.5 | 399.2 | (1)% | (3)% | 1,570.8 | 1,662.8 | (6)% | |||||||||||||||||||||
Production margin | 132.7 | 135.2 | 125.3 | (2)% | 6% | 547.7 | 507.1 | 8% | |||||||||||||||||||||
Marketing and administrative expenses | 52.8 | 50.1 | 51.0 | 5% | 4% | 209.2 | 206.0 | 2% | |||||||||||||||||||||
Research and development expenses | 5.7 | 5.9 | 5.1 | (3)% | 12% | 23.0 | 21.2 | 8% | |||||||||||||||||||||
Provision for credit losses | 0.0 | 0.0 | 0.0 | * | * | 30.0 | 0.0 | * | |||||||||||||||||||||
Restructuring and other items, net | 0.0 | 0.0 | 0.0 | * | * | 0.0 | 6.9 | * | |||||||||||||||||||||
Impairment of assets | 0.0 | 0.0 | 0.0 | * | * | 0.0 | 71.7 | * | |||||||||||||||||||||
Acquisition-related expenses | 0.0 | 0.0 | 0.0 | * | * | 0.0 | 0.3 | * | |||||||||||||||||||||
Gain on sale of assets, net | (12.3 | ) | 0.0 | 0.0 | * | * | (12.3 | ) | 0.0 | * | |||||||||||||||||||
Litigation expenses | 2.4 | 2.6 | 2.4 | (8)% | 0% | 11.3 | 29.2 | (61)% | |||||||||||||||||||||
Income from operations | 84.1 | 76.6 | 66.8 | 10% | 26% | 286.5 | 171.8 | 67% | |||||||||||||||||||||
Interest expense, net | (12.6 | ) | (14.0 | ) | (15.2 | ) | (10)% | (17)% | (56.4 | ) | (59.2 | ) | (5)% | ||||||||||||||||
Debt extinguishment expenses | (1.8 | ) | 0.0 | 0.0 | * | * | (1.8 | ) | 0.0 | * | |||||||||||||||||||
Other non-operating deductions, net | (0.3 | ) | (3.1 | ) | (3.0 | ) | (90)% | (90)% | (4.7 | ) | (4.9 | ) | (4)% | ||||||||||||||||
Total non-operating deductions, net | (14.7 | ) | (17.1 | ) | (18.2 | ) | (14)% | (19)% | (62.9 | ) | (64.1 | ) | (2)% | ||||||||||||||||
Income before tax and equity in earnings | 69.4 | 59.5 | 48.6 | 17% | 43% | 223.6 | 107.7 | 108% | |||||||||||||||||||||
Provision for taxes on income | 16.2 | 13.7 | 9.2 | 18% | 76% | 59.4 | 23.7 | 151% | |||||||||||||||||||||
Equity in earnings of affiliates, net of tax | 1.5 | 1.9 | 1.4 | (21)% | 7% | 6.7 | 4.3 | 56% | |||||||||||||||||||||
Net income | 54.7 | 47.7 | 40.8 | 15% | 34% | 170.9 | 88.3 | 94% | |||||||||||||||||||||
Less: Net income attributable to non-controlling interests | 0.7 | 1.0 | 1.0 | (30)% | (30)% | 3.8 | 4.2 | (10)% | |||||||||||||||||||||
Net Income attributable to | $ | 54.0 | $ | 46.7 | $ | 39.8 | 16% | 36% | $ | 167.1 | $ | 84.1 | 99% | ||||||||||||||||
Weighted average number of common shares outstanding: | |||||||||||||||||||||||||||||
Basic | 31.9 | 32.1 | 32.5 | 32.1 | 32.5 | ||||||||||||||||||||||||
Diluted | 32.2 | 32.3 | 32.5 | 32.3 | 32.6 | ||||||||||||||||||||||||
Earnings per share attributable to MTI: | |||||||||||||||||||||||||||||
Basic | $ | 1.69 | $ | 1.45 | $ | 1.22 | 17% | 39% | $ | 5.21 | $ | 2.59 | 101% | ||||||||||||||||
Diluted | $ | 1.68 | $ | 1.45 | $ | 1.22 | 16% | 38% | $ | 5.17 | $ | 2.58 | 100% | ||||||||||||||||
Cash dividends declared per common share | $ | 0.11 | $ | 0.10 | $ | 0.10 | $ | 0.41 | $ | 0.25 | |||||||||||||||||||
* Percentage not meaningful | |||||||||||||||||||||||||||||
MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES NOTES TO CONDENSED CONSOLIDATED STATEMENTS OF INCOME | ||||||||||||||||||||||
1) | For comparative purposes, the quarterly periods ended | |||||||||||||||||||||
2) | To supplement the Company's consolidated financial statements presented in accordance with GAAP, the following is a presentation of the Company's non-GAAP earnings per share, excluding special items, for the quarterly periods ended | |||||||||||||||||||||
(millions of dollars) | Quarter Ended | Twelve Months Ended | ||||||||||||||||||||
, | , | , | , | , | ||||||||||||||||||
Net income attributable to MTI | $ | 54.0 | $ | 46.7 | $ | 39.8 | $ | 167.1 | $ | 84.1 | ||||||||||||
% of sales | 10.4% | 8.9% | 7.6% | 7.9% | 3.9% | |||||||||||||||||
Special items: | ||||||||||||||||||||||
Provision for credit losses | 0.0 | 0.0 | 0.0 | 30.0 | 0.0 | |||||||||||||||||
Restructuring and other items, net | 0.0 | 0.0 | 0.0 | 0.0 | 6.9 | |||||||||||||||||
Impairment of assets | 0.0 | 0.0 | 0.0 | 0.0 | 71.7 | |||||||||||||||||
Acquisition-related expenses | 0.0 | 0.0 | 0.0 | 0.0 | 0.3 | |||||||||||||||||
Debt extinguishment expenses | 1.8 | 0.0 | 0.0 | 1.8 | 0.0 | |||||||||||||||||
Gain on sale of assets, net | (12.3 | ) | 0.0 | 0.0 | (12.3 | ) | 0.0 | |||||||||||||||
Litigation expenses | 2.4 | 2.6 | 2.4 | 11.3 | 29.2 | |||||||||||||||||
Related tax effects on special items | 2.3 | (0.6 | ) | (0.5 | ) | 0.9 | (22.3 | ) | ||||||||||||||
Net income attributable to MTI, excluding special items | $ | 48.2 | $ | 48.7 | $ | 41.7 | $ | 198.8 | $ | 169.9 | ||||||||||||
% of sales | 9.3% | 9.3% | 8.0% | 9.4% | 7.8% | |||||||||||||||||
Diluted earnings per share, excluding special items | $ | 1.50 | $ | 1.51 | $ | 1.28 | $ | 6.15 | $ | 5.21 | ||||||||||||
In the fourth quarter of 2024, the Company recorded a | ||||||||||||||||||||||
In the second quarter of 2024, the Company recorded a | ||||||||||||||||||||||
In the third quarter of 2023, the Company recorded a non-cash impairment of assets charge of | ||||||||||||||||||||||
In the second quarter of 2023, the Company initiated a restructuring and cost savings program to further streamline our cost structure as a result of organizational efficiencies gained through our 2023 resegmentation. Accordingly, the Company recorded restructuring and other charges of | ||||||||||||||||||||||
Included in litigation expenses for the tweleve month periods ended | ||||||||||||||||||||||
3) | Free cash flow is defined as cash flow from operations less capital expenditures. The following is a presentation of the Company's non-GAAP free cash flow for the quarterly periods ended | |||||||||||||||||||||
Quarter Ended | Twelve Months Ended | |||||||||||||||||||||
(millions of dollars) | , | , | , | Dec. 31, 2024 | , | |||||||||||||||||
Cash flow from operations | $ | 70.4 | $ | 60.0 | $ | 95.3 | $ | 236.4 | $ | 233.6 | ||||||||||||
Capital expenditures | 28.1 | 24.7 | 22.5 | 89.5 | 93.5 | |||||||||||||||||
Free cash flow | $ | 42.3 | $ | 35.3 | $ | 72.8 | $ | 146.9 | $ | 140.1 | ||||||||||||
Depreciation, depletion, and amortization expense | $ | 24.3 | $ | 23.1 | $ | 23.5 | $ | 94.9 | $ | 95.0 | ||||||||||||
4) | To supplement the Company's consolidated financial statements presented in accordance with GAAP, the following is a presentation of (i) the Company's year over year sales growth, excluding the sales of | |||||||||||||||||||||
Year Ended | ||||||||||||||||||||||
Sales | Impact of | |||||||||||||||||||||
Year over Year Sales Growth | Growth |
| Underlying | |||||||||||||||||||
As Reported | Deconsolidation | Sales Growth | ||||||||||||||||||||
Specialty Additives | (5 | )% | 6 | % | 1 | % | ||||||||||||||||
Consumer & Specialties | (2 | )% | 4 | % | 2 | % | ||||||||||||||||
MTI Consolidated | (2 | )% | 1 | % | (1 | )% | ||||||||||||||||
Year Ended | ||||||||||||||||||||||
Adj Op Income | Impact of | Underlying | ||||||||||||||||||||
Year over Year Operating Income Growth | Growth |
| Adj Op Income | |||||||||||||||||||
As Reported | Deconsolidation | Growth | ||||||||||||||||||||
Consumer & Specialties | 17 | % | 8 | % | 25 | % | ||||||||||||||||
MTI Consolidated | 13 | % | 3 | % | 16 | % | ||||||||||||||||
5) | “Adjusted EBITDA” is a non-GAAP financial measure and refers to earnings before interest, taxes, depreciation and amortization (EBITDA), excluding special items. The following is a presentation of the Company's non-GAAP EBITDA and Adjusted EBITDA for the quarterly periods ended | |||||||||||||||||||||
Quarter Ended | Twelve Months Ended | |||||||||||||||||||||
(millions of dollars) | , | , |
| , | , | |||||||||||||||||
Net income | $ | 54.0 | $ | 46.7 | $ | 39.8 | $ | 167.1 | $ | 84.1 | ||||||||||||
Add back: | ||||||||||||||||||||||
Depreciation, depletion, and amortization | 24.3 | 23.1 | 23.5 | 94.9 | 95.0 | |||||||||||||||||
Interest expense, net | 12.6 | 14.0 | 15.2 | 56.4 | 59.2 | |||||||||||||||||
Equity in earnings of affiliates, net of tax | (1.5 | ) | (1.9 | ) | (1.4 | ) | (6.7 | ) | (4.3 | ) | ||||||||||||
Net income attributable to non-controlling interests | 0.7 | 1.0 | 1.0 | 3.8 | 4.2 | |||||||||||||||||
Provision for taxes on income | 16.2 | 13.7 | 9.2 | 59.4 | 23.7 | |||||||||||||||||
EBITDA | 106.3 | 96.6 | 87.3 | 374.9 | 261.9 | |||||||||||||||||
Add special items: | ||||||||||||||||||||||
Provision for credit losses | 0.0 | 0.0 | 0.0 | 30.0 | 0.0 | |||||||||||||||||
Restructuring and other items, net | 0.0 | 0.0 | 0.0 | 0.0 | 6.9 | |||||||||||||||||
Impairment of assets | 0.0 | 0.0 | 0.0 | 0.0 | 71.7 | |||||||||||||||||
Acquisition-related expenses | 0.0 | 0.0 | 0.0 | 0.0 | 0.3 | |||||||||||||||||
Debt extinguishment expenses | 1.8 | 0.0 | 0.0 | 1.8 | 0.0 | |||||||||||||||||
Gain on sale of assets, net | (12.3 | ) | 0.0 | 0.0 | (12.3 | ) | 0.0 | |||||||||||||||
Litigation expenses | 2.4 | 2.6 | 2.4 | 11.3 | 29.2 | |||||||||||||||||
Adjusted EBITDA | $ | 98.2 | $ | 99.2 | $ | 89.7 | $ | 405.7 | $ | 370.0 | ||||||||||||
% of sales | 19.0% | 18.9% | 17.1% | 19.2% | 17.1% | |||||||||||||||||
6) | The following table reflects the components of non-operating income and deductions: | |||||||||||||||||||||
(millions of dollars) | Quarter Ended | Twelve Months Ended | ||||||||||||||||||||
, | , | , | , | , | ||||||||||||||||||
Interest income | $ | 1.8 | $ | 1.4 | $ | 1.2 | $ | 5.7 | $ | 3.9 | ||||||||||||
Interest expense | (14.4 | ) | (15.4 | ) | (16.4 | ) | (62.1 | ) | (63.1 | ) | ||||||||||||
Foreign exchange gains (losses) | 1.4 | (1.8 | ) | (0.6 | ) | 0.7 | 2.7 | |||||||||||||||
Debt extinguishment expenses | (1.8 | ) | 0.0 | 0.0 | (1.8 | ) | 0.0 | |||||||||||||||
Other deductions | (1.7 | ) | (1.3 | ) | (2.4 | ) | (5.4 | ) | (7.6 | ) | ||||||||||||
Non-operating deductions, net | $ | (14.7 | ) | $ | (17.1 | ) | $ | (18.2 | ) | $ | (62.9 | ) | $ | (64.1 | ) | |||||||
7) | The analyst conference call to discuss operating results for the fourth quarter is scheduled for | |||||||||||||||||||||
SUPPLEMENTARY DATA | |||||||||||||||||||||||||||
AND SUBSIDIARY COMPANIES | |||||||||||||||||||||||||||
(millions of dollars) | |||||||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||||
Quarter Ended | % Growth | Twelve Months Ended | % Growth | ||||||||||||||||||||||||
SALES DATA | , | % of Total Sales | , | % of Total Sales | , | % of Total Sales | Prior Qtr. | Prior Year | , | % of Total Sales | , | % of Total Sales | Prior Year | ||||||||||||||
$ | 264.7 | 51% | $ | 268.3 | 51% | $ | 269.7 | 51% | (1)% | (2)% | $ | 1,089.4 | 51% | $ | 1,144.0 | 53% | (5)% | ||||||||||
International | 253.4 | 49% | 256.4 | 49% | 254.8 | 49% | (1)% | (1)% | 1,029.1 | 49% | 1,025.9 | 47% | 0% | ||||||||||||||
$ | 518.1 | 100% | $ | 524.7 | 100% | $ | 524.5 | 100% | (1)% | (1)% | $ | 2,118.5 | 100% | $ | 2,169.9 | 100% | (2)% | ||||||||||
Household & Personal Care | $ | 133.9 | 26% | $ | 130.9 | 25% | $ | 134.0 | 26% | 2% | (0)% | $ | 530.0 | 25% | $ | 517.6 | 24% | 2% | |||||||||
Specialty Additives | 144.8 | 28% | 149.4 | 28% | 147.4 | 28% | (3)% | (2)% | 610.2 | 29% | 642.6 | 30% | (5)% | ||||||||||||||
Consumer & Specialties Segment | $ | 278.7 | 54% | $ | 280.3 | 53% | $ | 281.4 | 54% | (1)% | (1)% | $ | 1,140.2 | 54% | $ | 1,160.2 | 54% | (2)% | |||||||||
High-Temperature Technologies | $ | 176.4 | 34% | $ | 174.8 | 34% | $ | 182.3 | 35% | 1% | (3)% | $ | 713.2 | 33% | $ | 720.9 | 33% | (1)% | |||||||||
Environmental & Infrastructure | 63.0 | 12% | 69.6 | 13% | 60.8 | 11% | (9)% | 4% | 265.1 | 13% | 288.8 | 13% | (8)% | ||||||||||||||
Engineered Solutions Segment | $ | 239.4 | 46% | $ | 244.4 | 47% | $ | 243.1 | 46% | (2)% | (2)% | $ | 978.3 | 46% | $ | 1,009.7 | 46% | (3)% | |||||||||
$ | 518.1 | 100% | $ | 524.7 | 100% | $ | 524.5 | 100% | (1)% | (1)% | $ | 2,118.5 | 100% | $ | 2,169.9 | 100% | (2)% | ||||||||||
SUPPLEMENTARY DATA | ||||||||||||||||||
(millions of dollars) | ||||||||||||||||||
(unaudited) | ||||||||||||||||||
Quarter Ended | % Growth | Twelve Months Ended | % Growth | |||||||||||||||
, | , | , | Prior Qtr. | Prior Year | , | , | Prior Year | |||||||||||
SEGMENT OPERATING INCOME DATA | ||||||||||||||||||
Consumer & Specialties Segment | $ | 37.9 | $ | 41.7 | $ | 36.6 | (9)% | 4% | $ | 165.5 | $ | 41.6 | 298% | |||||
% of Sales | 13.6% | 14.9% | 13.0% | 14.5% | 3.6% | |||||||||||||
Engineered Solutions Segment | $ | 52.0 | $ | 38.8 | $ | 36.7 | 34% | 42% | $ | 174.0 | $ | 147.8 | 18% | |||||
% of Sales | 21.7% | 15.9% | 15.1% | 17.8% | 14.6% | |||||||||||||
Unallocated and Other Corporate Expenses | $ | (5.8) | $ | (3.9) | $ | (6.5) | 49% | (11)% | $ | (53.0) | $ | (17.6) | 201% | |||||
Consolidated | $ | 84.1 | $ | 76.6 | $ | 66.8 | 10% | 26% | $ | 286.5 | $ | 171.8 | 67% | |||||
% of Sales | 16.2% | 14.6% | 12.7% | 13.5% | 7.9% | |||||||||||||
SPECIAL ITEMS | ||||||||||||||||||
Consumer & Specialties Segment | $ | 0.0 | $ | 0.0 | $ | 0.0 | * | * | $ | 0.0 | $ | 99.4 | * | |||||
Engineered Solutions Segment | $ | (12.3) | $ | 0.0 | $ | 0.0 | * | * | $ | (12.3) | $ | 3.2 | * | |||||
Unallocated and Other Corporate Expenses | $ | 2.4 | $ | 2.6 | $ | 2.4 | * | * | $ | 41.3 | $ | 5.5 | * | |||||
Consolidated | $ | (9.9) | $ | 2.6 | $ | 2.4 | * | * | $ | 29.0 | $ | 108.1 | * | |||||
To supplement the Company's consolidated financial statements presented in accordance with GAAP, the following is a presentation of the Company's non-GAAP operating income. This excludes special items (set forth in the above table), for the quarterly periods ended | ||||||||||||||||||
Quarter Ended | % Growth | Twelve Months Ended | % Growth | |||||||||||||||
SEGMENT OPERATING INCOME, | , | , | , | Prior Qtr. | Prior Year | , | , | Prior Year | ||||||||||
EXCLUDING SPECIAL ITEMS | ||||||||||||||||||
Consumer & Specialties Segment | $ | 37.9 | $ | 41.7 | $ | 36.6 | (9)% | 4% | $ | 165.5 | $ | 141.0 | 17% | |||||
% of Sales | 13.6% | 14.9% | 13.0% | 14.5% | 12.2% | |||||||||||||
Engineered Solutions Segment | $ | 39.7 | $ | 38.8 | $ | 36.7 | 2% | 8% | $ | 161.7 | $ | 151.0 | 7% | |||||
% of Sales | 16.6% | 15.9% | 15.1% | 16.5% | 15.0% | |||||||||||||
Unallocated Corporate Expenses | $ | (3.4) | $ | (1.3) | $ | (4.1) | 162% | (17)% | $ | (11.7) | $ | (12.1) | 3% | |||||
Consolidated | $ | 74.2 | $ | 79.2 | $ | 69.2 | (6)% | 7% | $ | 315.5 | $ | 279.9 | 13% | |||||
% of Sales | 14.3% | 15.1% | 13.2% | 14.9% | 12.9% | |||||||||||||
* Percentage not meaningful | ||||||||||||||||||
AND SUBSIDIARY COMPANIES | ||||||||
ASSETS | ||||||||
(In millions of dollars) | ||||||||
, | , | |||||||
2024* | 2023** | |||||||
Current assets: | ||||||||
Cash & cash equivalents | $ | 333.1 | $ | 317.2 | ||||
Short-term investments | 4.0 | 4.3 | ||||||
Accounts receivable, net | 385.2 | 399.1 | ||||||
Inventories | 342.1 | 325.4 | ||||||
Prepaid expenses and other current assets | 66.6 | 53.0 | ||||||
Total current assets | 1,131.0 | 1,099.0 | ||||||
Property, plant, and equipment | 2,236.6 | 2,190.1 | ||||||
Less accumulated depreciation | 1,246.9 | 1,203.3 | ||||||
Net property, plant, and equipment | 989.7 | 986.8 | ||||||
| 913.8 | 913.6 | ||||||
Intangible assets | 218.1 | 231.0 | ||||||
Other assets and deferred charges | 141.3 | 116.2 | ||||||
Total assets | $ | 3,393.9 | $ | 3,346.6 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||
Current liabilities: | ||||||||
Short-term debt | $ | 5.1 | $ | 85.4 | ||||
Current maturities of long-term debt | 6.5 | 18.0 | ||||||
Accounts payable | 185.5 | 188.7 | ||||||
Other current liabilities | 200.6 | 165.2 | ||||||
Total current liabilities | 397.7 | 457.3 | ||||||
Long-term debt | 959.6 | 911.1 | ||||||
Deferred income taxes | 130.5 | 139.3 | ||||||
Other non-current liabilities | 122.9 | 152.2 | ||||||
Total liabilities | 1,610.7 | 1,659.9 | ||||||
Total MTI shareholders' equity | 1,747.0 | 1,652.0 | ||||||
Non-controlling Interests | 36.2 | 34.7 | ||||||
Total shareholders' equity | 1,783.2 | 1,686.7 | ||||||
Total liabilities and shareholders' equity | $ | 3,393.9 | $ | 3,346.6 | ||||
* | Unaudited | |||||||
** | Condensed from audited financial statements. |
Source: Minerals Technologies Inc.