10-Q Filing

MIDDLEBY CORP CIK: 769520 Q1 2011

Filing Information

Form Type	10-Q
Accession Number	`0001144204-11-028469`
Period End Date	20110331
Filing Date	20110512
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	midd-20110402.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 32 Cash Flow Statement 51

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, reserve for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.92M	USD	Point-in-time
Accounts receivable, reserve for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.97M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$50.48M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$47.35M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.26M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.66M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.36M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Accounts receivable, net of reserve for doubtful accounts of $7,925 and $7,975	`AccountsReceivableNetCurrent`	$112.05M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Accounts receivable, net of reserve for doubtful accounts of $7,925 and $7,975	`AccountsReceivableNetCurrent`	$111.77M	USD	Point-in-time
Inventories, net	`InventoryNet`	$116.22M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$106.46M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$10.31M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$11.97M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	47.50M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	47.50M	shares	Point-in-time
Current deferred taxes	`DeferredTaxAssetsNetCurrent`	$25.67M	USD	Point-in-time
Current deferred taxes	`DeferredTaxAssetsNetCurrent`	$25.52M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$273.23M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	22.69M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$263.66M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.09M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.35M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.23M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $50,480 and $47,355	`PropertyPlantAndEquipmentNet`	$44.27M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $50,480 and $47,355	`PropertyPlantAndEquipmentNet`	$43.66M	USD	Point-in-time
Goodwill	`Goodwill`	$369.99M	USD	Point-in-time
Goodwill	`Goodwill`	$370.75M	USD	Point-in-time
Other intangibles	`IntangibleAssetsNetExcludingGoodwill`	$189.25M	USD	Point-in-time
Other intangibles	`IntangibleAssetsNetExcludingGoodwill`	$187.09M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.43M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.61M	USD	Point-in-time
Total assets	`Assets`	$881.76M	USD	Point-in-time
Total assets	`Assets`	$873.17M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$5.10M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$6.14M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$46.78M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$52.95M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$102.52M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$125.81M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$155.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$183.85M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$233.46M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$208.92M	USD	Point-in-time
Long-term deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$12.67M	USD	Point-in-time
Long-term deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$11.86M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$43.63M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$44.24M	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; 23,086,993 and 22,691,821 shares issued in 2011 and 2010, respectively	`CommonStockValue`	$137.00K	USD	Point-in-time
Common stock, $0.01 par value; 47,500,000 shares authorized; 23,086,993 and 22,691,821 shares issued in 2011 and 2010, respectively	`CommonStockValue`	$137.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$181.61M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$179.57M	USD	Point-in-time
Treasury stock at cost; 4,347,360 and 4,233,810 shares in 2011 and 2010, respectively	`TreasuryStockValue`	$111.02M	USD	Point-in-time
Treasury stock at cost; 4,347,360 and 4,233,810 shares in 2011 and 2010, respectively	`TreasuryStockValue`	$120.47M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$378.08M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$360.25M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.40M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.03M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$424.91M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$435.95M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$881.76M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$873.17M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$160.68M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$182.57M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$97.21M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$110.74M	USD	1 Quarter
Gross profit	`GrossProfit`	$63.47M	USD	1 Quarter
Gross profit	`GrossProfit`	$71.83M	USD	1 Quarter
Selling expenses	`SellingExpense`	$20.57M	USD	1 Quarter
Selling expenses	`SellingExpense`	$17.62M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$19.41M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$19.90M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$26.43M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$31.36M	USD	1 Quarter
Net interest expense and deferred financing amortization	`InterestAndDebtExpense`	$2.48M	USD	1 Quarter
Net interest expense and deferred financing amortization	`InterestAndDebtExpense`	$2.06M	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-344.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$162.00K	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$29.47M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$23.62M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$9.85M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.64M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$13.76M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$17.82M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.78	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.00	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.74	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.97	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.90M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.75M	shares	1 Quarter
Dilutive stock options	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	544,000.00	shares	1 Quarter
Dilutive stock options	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	962,000.00	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.72M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.45M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$13.76M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$17.82M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.05M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.92M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-300.00K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-83.00K	USD	1 Quarter
Non-cash share-based compensation	`ShareBasedCompensation`	$1.96M	USD	1 Quarter
Non-cash share-based compensation	`ShareBasedCompensation`	$3.23M	USD	1 Quarter
Unrealized gain on derivative financial instruments	`UnrealizedGainLossOnDerivatives`	$7.00K	USD	1 Quarter
Unrealized gain on derivative financial instruments	`UnrealizedGainLossOnDerivatives`	$40.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$5.59M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-524.00K	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-552.00K	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$10.31M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-6.43M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$741.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-6.87M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$-16.16M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$-18.38M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.81M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.54M	USD	1 Quarter
Net additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.70M	USD	1 Quarter
Net additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.40M	USD	1 Quarter
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.73M	USD	1 Quarter
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.02M	USD	1 Quarter
Net proceeds (repayments) under revolving credit facilities	`RepaymentsOfProceedsFromRevolvingCreditFacilities`	$-4.80M	USD	1 Quarter
Net proceeds (repayments) under revolving credit facilities	`RepaymentsOfProceedsFromRevolvingCreditFacilities`	$24.45M	USD	1 Quarter
Net proceeds (repayments) under foreign bank loan	`ProceedsFromRepaymentsOfOtherDebt`	$514.00K	USD	1 Quarter
Net proceeds (repayments) under foreign bank loan	`ProceedsFromRepaymentsOfOtherDebt`	$623.00K	USD	1 Quarter
Repurchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$9.45M	USD	1 Quarter
Net proceeds from stock issuances	`ProceedsFromIssuanceOfCommonStock`	$80.00K	USD	1 Quarter
Net proceeds from stock issuances	`ProceedsFromIssuanceOfCommonStock`	$270.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.70M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.02M	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$164.00K	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$171.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.60M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-68.00K	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$9.26M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$7.66M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$8.29M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$8.36M	USD	Point-in-time
Cash and cash equivalents at end of the three-month period	`CashAndCashEquivalentsAtCarryingValue`	$9.26M	USD	Point-in-time
Cash and cash equivalents at end of the three-month period	`CashAndCashEquivalentsAtCarryingValue`	$7.66M	USD	Point-in-time
Cash and cash equivalents at end of the three-month period	`CashAndCashEquivalentsAtCarryingValue`	$8.29M	USD	Point-in-time
Cash and cash equivalents at end of the three-month period	`CashAndCashEquivalentsAtCarryingValue`	$8.36M	USD	Point-in-time
Interest paid	`InterestPaid`	$2.48M	USD	1 Quarter
Interest paid	`InterestPaid`	$1.73M	USD	1 Quarter
Income tax payments	`IncomeTaxesPaid`	$2.16M	USD	1 Quarter
Income tax payments	`IncomeTaxesPaid`	$2.65M	USD	1 Quarter

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