10-Q Filing

MIDDLEBY CORP CIK: 769520 Q3 2010

Filing Information

Form Type	10-Q
Accession Number	`0001144204-10-059442`
Period End Date	20100930
Filing Date	20101112
Fiscal Year	2010
Fiscal Period	Q3
XBRL Instance	midd-20101002.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 64 Cash Flow Statement 53

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, reserve for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.20M	USD	Point-in-time
Accounts receivable, reserve for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$6.60M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$48.75M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$44.99M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.99M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.99M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.14M	USD	Point-in-time
Accounts receivable, net of reserve for doubtful accounts of $7,195 and $6,596	`AccountsReceivableNetCurrent`	$78.90M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Accounts receivable, net of reserve for doubtful accounts of $7,195 and $6,596	`AccountsReceivableNetCurrent`	$102.71M	USD	Point-in-time
Inventories, net	`InventoryNet`	$90.64M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$106.05M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$9.91M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$9.14M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid taxes	`PrepaidTaxes`	$4.18M	USD	Point-in-time
Prepaid taxes	`PrepaidTaxes`	$5.87M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	47.50M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	47.50M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	22.69M	shares	Point-in-time
Current deferred taxes	`DeferredTaxAssetsNetCurrent`	$25.23M	USD	Point-in-time
Current deferred taxes	`DeferredTaxAssetsNetCurrent`	$23.34M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	22.62M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$253.29M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.07M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$217.03M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.23M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $48,750 and $44,988	`PropertyPlantAndEquipmentNet`	$44.79M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $48,750 and $44,988	`PropertyPlantAndEquipmentNet`	$47.34M	USD	Point-in-time
Goodwill	`Goodwill`	$372.05M	USD	Point-in-time
Goodwill	`Goodwill`	$358.51M	USD	Point-in-time
Other intangibles	`IntangibleAssetsNetExcludingGoodwill`	$189.57M	USD	Point-in-time
Other intangibles	`IntangibleAssetsNetExcludingGoodwill`	$191.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.50M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.90M	USD	Point-in-time
Total assets	`Assets`	$816.35M	USD	Point-in-time
Total assets	`Assets`	$866.64M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$5.35M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$7.52M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$51.65M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$38.58M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$113.19M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$100.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$146.36M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$170.18M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$238.26M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$268.12M	USD	Point-in-time
Long-term deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$14.19M	USD	Point-in-time
Long-term deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$14.38M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$44.12M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$45.02M	USD	Point-in-time
Preferred stock, $0.01 par value; nonvoting; 2,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value; nonvoting; 2,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value; 47,500,000 shares authorized; 22,685,913 and 22,622,650 shares issued in 2010 and 2009, respectively	`CommonStockValue`	$137.00K	USD	Point-in-time
Common stock, $0.01 par value; 47,500,000 shares authorized; 22,685,913 and 22,622,650 shares issued in 2010 and 2009, respectively	`CommonStockValue`	$136.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$175.71M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$162.00M	USD	Point-in-time
Treasury stock at cost; 4,230,979 and 4,069,913 shares in 2010 and 2009, respectively	`TreasuryStockValue`	$102.00M	USD	Point-in-time
Treasury stock at cost; 4,230,979 and 4,069,913 shares in 2010 and 2009, respectively	`TreasuryStockValue`	$110.78M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$339.26M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$287.39M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.87M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.63M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$342.65M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$399.70M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$866.64M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$816.35M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$494.14M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$153.99M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$511.89M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$177.79M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$301.99M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$91.95M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$308.30M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$107.11M	USD	1 Quarter
Gross profit	`GrossProfit`	$192.15M	USD	3 Qtrs
Gross profit	`GrossProfit`	$203.58M	USD	3 Qtrs
Gross profit	`GrossProfit`	$62.04M	USD	1 Quarter
Gross profit	`GrossProfit`	$70.69M	USD	1 Quarter
Selling expenses	`SellingExpense`	$17.78M	USD	1 Quarter
Selling expenses	`SellingExpense`	$16.36M	USD	1 Quarter
Selling expenses	`SellingExpense`	$49.34M	USD	3 Qtrs
Selling expenses	`SellingExpense`	$54.44M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$59.70M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$17.60M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$60.97M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$20.90M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$32.01M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$88.17M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$28.07M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$83.11M	USD	3 Qtrs
Net interest expense and deferred financing amortization	`InterestAndDebtExpense`	$2.80M	USD	1 Quarter
Net interest expense and deferred financing amortization	`InterestAndDebtExpense`	$2.18M	USD	1 Quarter
Net interest expense and deferred financing amortization	`InterestAndDebtExpense`	$8.80M	USD	3 Qtrs
Net interest expense and deferred financing amortization	`InterestAndDebtExpense`	$6.90M	USD	3 Qtrs
Other expense, net	`OtherNonoperatingIncomeExpense`	$-443.00K	USD	3 Qtrs
Other expense, net	`OtherNonoperatingIncomeExpense`	$121.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-607.00K	USD	3 Qtrs
Other expense, net	`OtherNonoperatingIncomeExpense`	$137.00K	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$80.83M	USD	3 Qtrs
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$25.41M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$73.70M	USD	3 Qtrs
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$29.95M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$30.42M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$28.96M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$9.35M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$9.91M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$51.87M	USD	3 Qtrs
Net earnings	`NetIncomeLoss`	$20.60M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$43.28M	USD	3 Qtrs
Net earnings	`NetIncomeLoss`	$15.50M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.88	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.16	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$2.46	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$2.91	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$2.84	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.13	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.83	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.34	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.82M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.59M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.81M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.60M	shares	1 Quarter
Dilutive stock options	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	931,000.00	shares	3 Qtrs
Dilutive stock options	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	460,000.00	shares	3 Qtrs
Dilutive stock options	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	459,000.00	shares	1 Quarter
Dilutive stock options	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	1.15M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.27M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.52M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.27M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.75M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$51.87M	USD	3 Qtrs
Net earnings	`NetIncomeLoss`	$20.60M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$43.28M	USD	3 Qtrs
Net earnings	`NetIncomeLoss`	$15.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.66M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.87M	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.85M	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.70M	USD	3 Qtrs
Non-cash share-based compensation	`ShareBasedCompensation`	$11.06M	USD	3 Qtrs
Non-cash share-based compensation	`ShareBasedCompensation`	$8.18M	USD	3 Qtrs
Unrealized loss on derivative financial instruments	`UnrealizedGainLossOnDerivatives`	$-14.00K	USD	3 Qtrs
Unrealized loss on derivative financial instruments	`UnrealizedGainLossOnDerivatives`	$-4.00K	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-22.07M	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$19.34M	USD	3 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$-11.72M	USD	3 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$5.56M	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$850.00K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.00M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$9.28M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.64M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$-13.64M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$6.89M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$77.16M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$66.16M	USD	3 Qtrs
Net additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.01M	USD	3 Qtrs
Net additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.94M	USD	3 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.76M	USD	3 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-132.43M	USD	3 Qtrs
Net (repayments) proceeds under revolving credit facilities	`RepaymentsOfProceedsFromRevolvingCreditFacilities`	$59.65M	USD	3 Qtrs
Net (repayments) proceeds under revolving credit facilities	`RepaymentsOfProceedsFromRevolvingCreditFacilities`	$-30.05M	USD	3 Qtrs
Net repayments under foreign bank loan	`ProceedsFromRepaymentsOfOtherDebt`	$-1.51M	USD	3 Qtrs
Net repayments under foreign bank loan	`ProceedsFromRepaymentsOfOtherDebt`	$221.00K	USD	3 Qtrs
Repurchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$8.78M	USD	3 Qtrs
Net proceeds from stock issuances	`ProceedsFromIssuanceOfCommonStock`	$565.00K	USD	3 Qtrs
Net proceeds from stock issuances	`ProceedsFromIssuanceOfCommonStock`	$384.00K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$60.26M	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-39.77M	USD	3 Qtrs
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-4.00K	USD	3 Qtrs
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-141.00K	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.85M	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.38M	USD	3 Qtrs
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$10.99M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$8.36M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$5.99M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$6.14M	USD	Point-in-time
Cash and cash equivalents at end of the nine-month period	`CashAndCashEquivalentsAtCarryingValue`	$10.99M	USD	Point-in-time
Cash and cash equivalents at end of the nine-month period	`CashAndCashEquivalentsAtCarryingValue`	$8.36M	USD	Point-in-time
Cash and cash equivalents at end of the nine-month period	`CashAndCashEquivalentsAtCarryingValue`	$5.99M	USD	Point-in-time
Cash and cash equivalents at end of the nine-month period	`CashAndCashEquivalentsAtCarryingValue`	$6.14M	USD	Point-in-time
Interest paid	`InterestPaid`	$8.17M	USD	3 Qtrs
Interest paid	`InterestPaid`	$6.35M	USD	3 Qtrs
Income tax payments	`IncomeTaxesPaid`	$24.51M	USD	3 Qtrs
Income tax payments	`IncomeTaxesPaid`	$24.28M	USD	3 Qtrs

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