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10-Q Filing

MINERALS TECHNOLOGIES INC CIK: 891014 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0000891014-23-000031
Period End Date 20230331
Filing Date 20230428
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance form10q_htm.xml
Balance Sheet 71 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $249.70M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $247.20M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $299.50M USD Point-in-time
Short-term investments ShortTermInvestments $5.60M USD Point-in-time
Short-term investments ShortTermInvestments $6.20M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $404.00M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $421.10M USD Point-in-time
Inventories InventoryNet $370.10M USD Point-in-time
Inventories InventoryNet $348.80M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $67.80M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $64.90M USD Point-in-time
Total current assets AssetsCurrent $1.07B USD Point-in-time
Total current assets AssetsCurrent $1.11B USD Point-in-time
Property, plant and equipment PropertyPlantAndEquipmentGross $2.29B USD Point-in-time
Property, plant and equipment PropertyPlantAndEquipmentGross $2.29B USD Point-in-time
Less accumulated depreciation and depletion AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.24B USD Point-in-time
Less accumulated depreciation and depletion AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.24B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $1.06B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $1.05B USD Point-in-time
Goodwill Goodwill $914.80M USD Point-in-time
Goodwill Goodwill $915.30M USD Point-in-time
Intangible assets IntangibleAssetsNetExcludingGoodwill $241.90M USD Point-in-time
Intangible assets IntangibleAssetsNetExcludingGoodwill $239.10M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $24.40M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $24.50M USD Point-in-time
Other assets and deferred charges OtherAssetsNoncurrent $99.60M USD Point-in-time
Other assets and deferred charges OtherAssetsNoncurrent $99.40M USD Point-in-time
Total assets Assets $3.40B USD Point-in-time
Total assets Assets $3.45B USD Point-in-time
Short-term debt ShortTermBorrowings $118.60M USD Point-in-time
Short-term debt ShortTermBorrowings $119.70M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $14.50M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $14.50M USD Point-in-time
Accounts payable AccountsPayableCurrent $193.80M USD Point-in-time
Accounts payable AccountsPayableCurrent $225.70M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $154.20M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $174.60M USD Point-in-time
Total current liabilities LiabilitiesCurrent $513.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $502.60M USD Point-in-time
Long-term debt, net of unamortized discount and deferred financing costs LongTermDebtNoncurrent $924.70M USD Point-in-time
Long-term debt, net of unamortized discount and deferred financing costs LongTermDebtNoncurrent $928.10M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $178.90M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $180.40M USD Point-in-time
Accrued pension and post-retirement benefits PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $63.50M USD Point-in-time
Accrued pension and post-retirement benefits PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $63.20M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $112.90M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $113.80M USD Point-in-time
Total liabilities Liabilities $1.79B USD Point-in-time
Total liabilities Liabilities $1.79B USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock CommonStockValue $4.90M USD Point-in-time
Common stock CommonStockValue $4.90M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $487.80M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $487.60M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.32B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $2.28B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-358.80M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-366.50M USD Point-in-time
Less common stock held in treasury TreasuryStockValue $831.10M USD Point-in-time
Less common stock held in treasury TreasuryStockValue $831.10M USD Point-in-time
Total Minerals Technologies Inc. shareholders' equity StockholdersEquity $1.62B USD Point-in-time
Total Minerals Technologies Inc. shareholders' equity StockholdersEquity $1.58B USD Point-in-time
Non-controlling interests MinorityInterest $35.20M USD Point-in-time
Non-controlling interests MinorityInterest $33.70M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.58B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.60B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.66B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.61B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $3.45B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $3.40B USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $519.10M USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $546.10M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $397.40M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $425.40M USD 1 Quarter
Production margin GrossProfit $121.70M USD 1 Quarter
Production margin GrossProfit $120.70M USD 1 Quarter
Marketing and administrative expenses SellingGeneralAndAdministrativeExpense $48.80M USD 1 Quarter
Marketing and administrative expenses SellingGeneralAndAdministrativeExpense $52.30M USD 1 Quarter
Research and development expenses ResearchAndDevelopmentExpense $5.10M USD 1 Quarter
Research and development expenses ResearchAndDevelopmentExpense $5.30M USD 1 Quarter
Acquisition-related expenses BusinessCombinationAcquisitionRelatedCosts $1.60M USD 1 Quarter
Acquisition-related expenses BusinessCombinationAcquisitionRelatedCosts $100.00K USD 1 Quarter
Income from operations OperatingIncomeLoss $63.00M USD 1 Quarter
Income from operations OperatingIncomeLoss $66.20M USD 1 Quarter
Interest expense, net InterestExpense $14.20M USD 1 Quarter
Interest expense, net InterestExpense $9.80M USD 1 Quarter
Other non-operating (deductions) income, net OtherNonoperatingIncomeExpense $-1.10M USD 1 Quarter
Other non-operating (deductions) income, net OtherNonoperatingIncomeExpense $-400.00K USD 1 Quarter
Total non-operating deductions, net NonoperatingIncomeExpense $-15.30M USD 1 Quarter
Total non-operating deductions, net NonoperatingIncomeExpense $-10.20M USD 1 Quarter
Income from operations before tax and equity in earnings IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $56.00M USD 1 Quarter
Income from operations before tax and equity in earnings IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $47.70M USD 1 Quarter
Provision for taxes on income IncomeTaxExpenseBenefit $11.20M USD 1 Quarter
Provision for taxes on income IncomeTaxExpenseBenefit $10.50M USD 1 Quarter
Equity in earnings of affiliates, net of tax IncomeLossFromEquityMethodInvestments $100.00K USD 1 Quarter
Equity in earnings of affiliates, net of tax IncomeLossFromEquityMethodInvestments $900.00K USD 1 Quarter
Net income ProfitLoss $38.10M USD 1 Quarter
Net income ProfitLoss $44.90M USD 1 Quarter
Less: Net income attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $800.00K USD 1 Quarter
Less: Net income attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $1.10M USD 1 Quarter
Net income attributable to Minerals Technologies Inc. NetIncomeLoss $44.10M USD 1 Quarter
Net income attributable to Minerals Technologies Inc. NetIncomeLoss $37.00M USD 1 Quarter
Basic net income per share attributable to Minerals Technologies Inc. (in dollars per share) EarningsPerShareBasic $1.33 USD 1 Quarter
Basic net income per share attributable to Minerals Technologies Inc. (in dollars per share) EarningsPerShareBasic $1.14 USD 1 Quarter
Diluted net income per share attributable to Minerals Technologies Inc. (in dollars per share) EarningsPerShareDiluted $1.14 USD 1 Quarter
Diluted net income per share attributable to Minerals Technologies Inc. (in dollars per share) EarningsPerShareDiluted $1.33 USD 1 Quarter
Cash dividends declared per common share (in dollars per share) CommonStockDividendsPerShareDeclared $0.05 USD 1 Quarter
Cash dividends declared per common share (in dollars per share) CommonStockDividendsPerShareDeclared $0.05 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 32.50M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 33.10M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 32.50M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 33.20M shares 1 Quarter
Cash Flow Statement 53 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $38.10M USD 1 Quarter
Net income ProfitLoss $44.90M USD 1 Quarter
Depreciation, depletion and amortization CostDepreciationAmortizationAndDepletion $24.20M USD 1 Quarter
Depreciation, depletion and amortization CostDepreciationAmortizationAndDepletion $23.70M USD 1 Quarter
Reduction of right of use asset OperatingLeaseRightOfUseAssetAmortizationExpense $3.10M USD 1 Quarter
Reduction of right of use asset OperatingLeaseRightOfUseAssetAmortizationExpense $3.40M USD 1 Quarter
Other non-cash items, net OtherNoncashIncomeExpense $-4.20M USD 1 Quarter
Other non-cash items, net OtherNoncashIncomeExpense $-5.90M USD 1 Quarter
Net changes in operating assets and liabilities IncreaseDecreaseInOperatingCapitalExcludingObligationForPensionAndOtherPostretirementBenefits $35.70M USD 1 Quarter
Net changes in operating assets and liabilities IncreaseDecreaseInOperatingCapitalExcludingObligationForPensionAndOtherPostretirementBenefits $77.80M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $33.70M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $300.00K USD 1 Quarter
Purchases of property, plant and equipment, net PaymentsToAcquirePropertyPlantAndEquipment $19.00M USD 1 Quarter
Purchases of property, plant and equipment, net PaymentsToAcquirePropertyPlantAndEquipment $24.40M USD 1 Quarter
Proceeds from sale of short-term investments ProceedsFromSaleOfShortTermInvestments $1.90M USD 1 Quarter
Proceeds from sale of short-term investments ProceedsFromSaleOfShortTermInvestments $1.60M USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $2.00M USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $1.20M USD 1 Quarter
Other investing activities PaymentsForProceedsFromOtherInvestingActivities $-1.20M USD 1 Quarter
Other investing activities PaymentsForProceedsFromOtherInvestingActivities $-100.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-24.70M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-17.10M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $3.80M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermDebt $300.00K USD 1 Quarter
Proceeds from issuance of short-term debt ProceedsFromShortTermDebt - USD 1 Quarter
Proceeds from issuance of short-term debt ProceedsFromShortTermDebt $30.00M USD 1 Quarter
Repayment of short-term debt RepaymentsOfShortTermDebt - USD 1 Quarter
Repayment of short-term debt RepaymentsOfShortTermDebt $1.20M USD 1 Quarter
Purchase of common stock for treasury PaymentsForRepurchaseOfCommonStock $16.70M USD 1 Quarter
Purchase of common stock for treasury PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Proceeds from issuance of stock under option plan ProceedsFromStockOptionsExercised $900.00K USD 1 Quarter
Proceeds from issuance of stock under option plan ProceedsFromStockOptionsExercised $200.00K USD 1 Quarter
Excess tax benefits related to stock incentive programs PaymentsRelatedToTaxWithholdingForShareBasedCompensation $2.80M USD 1 Quarter
Excess tax benefits related to stock incentive programs PaymentsRelatedToTaxWithholdingForShareBasedCompensation $3.30M USD 1 Quarter
Dividends paid to non-controlling interests PaymentsOfDividendsMinorityInterest - USD 1 Quarter
Dividends paid to non-controlling interests PaymentsOfDividendsMinorityInterest $100.00K USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $1.60M USD 1 Quarter
Cash dividends paid PaymentsOfDividendsCommonStock $1.60M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-9.20M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $8.90M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $-3.60M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $2.70M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $2.50M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-11.50M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $249.70M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $247.20M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $299.50M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $288.00M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $249.70M USD Point-in-time
Interest paid InterestPaidNet $14.60M USD 1 Quarter
Interest paid InterestPaidNet $19.10M USD 1 Quarter
Income taxes paid IncomeTaxesPaidNet $8.90M USD 1 Quarter
Income taxes paid IncomeTaxesPaidNet $4.70M USD 1 Quarter
Stockholders Equity 22 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.58B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.60B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.66B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.61B USD Point-in-time
Net income ProfitLoss $38.10M USD 1 Quarter
Net income ProfitLoss $44.90M USD 1 Quarter
Other comprehensive (loss) income, net OtherComprehensiveIncomeLossNetOfTax $-3.90M USD 1 Quarter
Other comprehensive (loss) income, net OtherComprehensiveIncomeLossNetOfTax $8.10M USD 1 Quarter
Dividends declared Dividends $1.60M USD 1 Quarter
Dividends declared Dividends $1.60M USD 1 Quarter
Dividends paid to non-controlling interests MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders $100.00K USD 1 Quarter
Issuance of shares pursuant to employee stock compensation plans StockIssuedDuringPeriodValueShareBasedCompensationGross $900.00K USD 1 Quarter
Issuance of shares pursuant to employee stock compensation plans StockIssuedDuringPeriodValueShareBasedCompensationGross $200.00K USD 1 Quarter
Purchase of common stock for treasury TreasuryStockValueAcquiredCostMethod $16.70M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.70M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.80M USD 1 Quarter
Conversion of RSU's for tax withholding AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $2.70M USD 1 Quarter
Conversion of RSU's for tax withholding AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $2.80M USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.58B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.60B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.66B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.61B USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $38.10M USD 1 Quarter
Net income ProfitLoss $44.90M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $10.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-8.20M USD 1 Quarter
Pension and postretirement plan adjustments OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-400.00K USD 1 Quarter
Pension and postretirement plan adjustments OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-1.20M USD 1 Quarter
Unrealized (loss) gains on cash flow hedges OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $3.10M USD 1 Quarter
Unrealized (loss) gains on cash flow hedges OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $-2.30M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $-3.90M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $8.10M USD 1 Quarter
Total comprehensive income including non-controlling interests ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $41.00M USD 1 Quarter
Total comprehensive income including non-controlling interests ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $46.20M USD 1 Quarter
Comprehensive income attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $1.40M USD 1 Quarter
Comprehensive income attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $900.00K USD 1 Quarter
Comprehensive income attributable to Minerals Technologies Inc. ComprehensiveIncomeNetOfTax $40.10M USD 1 Quarter
Comprehensive income attributable to Minerals Technologies Inc. ComprehensiveIncomeNetOfTax $44.80M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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