10-Q Filing

MIDDLEBY CORP CIK: 769520 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001144204-11-045594`
Period End Date	20110630
Filing Date	20110811
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	midd-20110702.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 64 Cash Flow Statement 61

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, reserve for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$8.30M	USD	Point-in-time
Accounts receivable, reserve for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.97M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$47.35M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$51.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.39M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.66M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.36M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.37M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net of reserve for doubtful accounts of $8,302 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 $8,302 and $7,975	`AccountsReceivableNetCurrent`	$130.74M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$122.11M	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$11.97M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$11.32M	USD	Point-in-time
Current deferred taxes	`DeferredTaxAssetsNetCurrent`	$25.81M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	47.50M	shares	Point-in-time
Current deferred taxes	`DeferredTaxAssetsNetCurrent`	$25.52M	USD	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
Total current assets	`AssetsCurrent`	$263.66M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.09M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$311.38M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $51,326 and $47,355	`PropertyPlantAndEquipmentNet`	$43.66M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.23M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.35M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $51,326 and $47,355	`PropertyPlantAndEquipmentNet`	$57.14M	USD	Point-in-time
Goodwill	`Goodwill`	$369.99M	USD	Point-in-time
Goodwill	`Goodwill`	$426.71M	USD	Point-in-time
Other intangibles	`IntangibleAssetsNetExcludingGoodwill`	$216.97M	USD	Point-in-time
Other intangibles	`IntangibleAssetsNetExcludingGoodwill`	$189.25M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.89M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$6.61M	USD	Point-in-time
Total assets	`Assets`	$873.17M	USD	Point-in-time
Total assets	`Assets`	$1.02B	USD	Point-in-time
Total assets	`Assets`	$823.86M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$7.03M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$5.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$55.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$52.95M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$119.83M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$125.81M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$183.85M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$182.64M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$302.41M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$208.92M	USD	Point-in-time
Long-term deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$26.50M	USD	Point-in-time
Long-term deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$11.86M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$45.41M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$43.63M	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; 23,094,964 and 22,691,821 shares issued in 2011 and 2010, respectively	`CommonStockValue`	$138.00K	USD	Point-in-time
Common stock, $0.01 par value; 47,500,000 shares authorized; 23,094,964 and 22,691,821 shares issued in 2011 and 2010, respectively	`CommonStockValue`	$137.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$179.57M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$187.15M	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
Treasury stock at cost; 4,347,360 and 4,233,810 shares in 2011 and 2010, respectively	`TreasuryStockValue`	$111.02M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$397.71M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$360.25M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.03M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.39M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$424.91M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$462.13M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$873.17M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.02B	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$334.10M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$210.85M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$173.41M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$393.43M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$201.20M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$125.52M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$103.99M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$236.26M	USD	2 Qtrs
Gross profit	`GrossProfit`	$85.34M	USD	1 Quarter
Gross profit	`GrossProfit`	$157.17M	USD	2 Qtrs
Gross profit	`GrossProfit`	$132.90M	USD	2 Qtrs
Gross profit	`GrossProfit`	$69.42M	USD	1 Quarter
Selling expenses	`SellingExpense`	$19.04M	USD	1 Quarter
Selling expenses	`SellingExpense`	$36.66M	USD	2 Qtrs
Selling expenses	`SellingExpense`	$21.57M	USD	1 Quarter
Selling expenses	`SellingExpense`	$42.14M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$48.42M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$20.66M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$40.07M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$28.52M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$66.61M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$56.16M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$29.73M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$35.25M	USD	1 Quarter
Net interest expense and deferred financing amortization	`InterestAndDebtExpense`	$4.18M	USD	2 Qtrs
Net interest expense and deferred financing amortization	`InterestAndDebtExpense`	$2.12M	USD	1 Quarter
Net interest expense and deferred financing amortization	`InterestAndDebtExpense`	$4.72M	USD	2 Qtrs
Net interest expense and deferred financing amortization	`InterestAndDebtExpense`	$2.25M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-1.61M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-220.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-1.45M	USD	2 Qtrs
Other expense, net	`OtherNonoperatingIncomeExpense`	$-564.00K	USD	2 Qtrs
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$60.99M	USD	2 Qtrs
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$27.26M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$31.52M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$50.88M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$9.75M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$23.53M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.89M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$19.61M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$19.63M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$37.45M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$17.51M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$31.27M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.98	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.76	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$2.08	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$1.09	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.02	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.71	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.06	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.96	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.86M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.81M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.05M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.98M	shares	2 Qtrs
Dilutive equity awards	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	459,000.00	shares	1 Quarter
Dilutive equity awards	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	527,000.00	shares	1 Quarter
Dilutive equity awards	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	461,000.00	shares	2 Qtrs
Dilutive equity awards	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	536,000.00	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.58M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.32M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.51M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.27M	shares	2 Qtrs

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$19.63M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$37.45M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$17.51M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$31.27M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.29M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.33M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.89M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.81M	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-600.00K	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.76M	USD	2 Qtrs
Non-cash share-based compensation	`ShareBasedCompensation`	$4.20M	USD	1 Quarter
Non-cash share-based compensation	`ShareBasedCompensation`	$5.30M	USD	1 Quarter
Non-cash share-based compensation	`ShareBasedCompensation`	$7.35M	USD	2 Qtrs
Non-cash share-based compensation	`ShareBasedCompensation`	$7.37M	USD	2 Qtrs
Unrealized (gain) loss on derivative financial instruments	`UnrealizedGainLossOnDerivatives`	$-11.00K	USD	2 Qtrs
Unrealized (gain) loss on derivative financial instruments	`UnrealizedGainLossOnDerivatives`	$3.00K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$7.10M	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$17.56M	USD	2 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$486.00K	USD	2 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$7.63M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.16M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$796.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-5.64M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$6.72M	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-4.60M	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-507.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$32.07M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$29.72M	USD	2 Qtrs
Net additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.45M	USD	1 Quarter
Net additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.00M	USD	1 Quarter
Net additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.40M	USD	2 Qtrs
Net additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.15M	USD	2 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-101.93M	USD	2 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.03M	USD	2 Qtrs
Net proceeds (repayments) under revolving credit facilities	`RepaymentsOfProceedsFromRevolvingCreditFacilities`	$-25.15M	USD	2 Qtrs
Net proceeds (repayments) under revolving credit facilities	`RepaymentsOfProceedsFromRevolvingCreditFacilities`	$93.40M	USD	2 Qtrs
Net proceeds (repayments) under foreign bank loan	`ProceedsFromRepaymentsOfOtherDebt`	$-246.00K	USD	2 Qtrs
Net proceeds (repayments) under foreign bank loan	`ProceedsFromRepaymentsOfOtherDebt`	$1.33M	USD	2 Qtrs
Repurchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$9.45M	USD	2 Qtrs
Repurchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$3.04M	USD	2 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$373.00K	USD	2 Qtrs
Net proceeds from stock issuances	`ProceedsFromIssuanceOfCommonStock`	$224.00K	USD	2 Qtrs
Net proceeds from stock issuances	`ProceedsFromIssuanceOfCommonStock`	$565.00K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$85.12M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-27.87M	USD	2 Qtrs
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-169.00K	USD	2 Qtrs
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$815.00K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$13.73M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-991.00K	USD	2 Qtrs
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$21.39M	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`	$8.36M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$7.37M	USD	Point-in-time
Cash and cash equivalents at end of the six-month period	`CashAndCashEquivalentsAtCarryingValue`	$21.39M	USD	Point-in-time
Cash and cash equivalents at end of the six-month period	`CashAndCashEquivalentsAtCarryingValue`	$7.66M	USD	Point-in-time
Cash and cash equivalents at end of the six-month period	`CashAndCashEquivalentsAtCarryingValue`	$8.36M	USD	Point-in-time
Cash and cash equivalents at end of the six-month period	`CashAndCashEquivalentsAtCarryingValue`	$7.37M	USD	Point-in-time
Interest paid	`InterestPaid`	$3.84M	USD	2 Qtrs
Interest paid	`InterestPaid`	$4.21M	USD	2 Qtrs
Income tax payments	`IncomeTaxesPaid`	$11.30M	USD	2 Qtrs
Income tax payments	`IncomeTaxesPaid`	$17.69M	USD	2 Qtrs

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