10-Q Filing

MIDDLEBY CORP CIK: 769520 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001144204-11-062933`
Period End Date	20110930
Filing Date	20111110
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	midd-20111001.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 64 Cash Flow Statement 63

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, reserve for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.97M	USD	Point-in-time
Accounts receivable, reserve for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.91M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$47.35M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$52.45M	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
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.42M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.99M	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 $7,907 and $7,975	`AccountsReceivableNetCurrent`	$112.05M	USD	Point-in-time
Accounts receivable, net of reserve for doubtful accounts of $7,907 and $7,975	`AccountsReceivableNetCurrent`	$136.67M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$106.46M	USD	Point-in-time
Inventories, net	`InventoryNet`	$123.54M	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
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$9.59M	USD	Point-in-time
Current deferred taxes	`DeferredTaxAssetsNetCurrent`	$25.52M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	47.50M	shares	Point-in-time
Current deferred taxes	`DeferredTaxAssetsNetCurrent`	$25.96M	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
Common stock, shares issued	`CommonStockSharesIssued`	23.09M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$263.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$309.18M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $52,453 and $47,355	`PropertyPlantAndEquipmentNet`	$43.66M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.40M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $52,453 and $47,355	`PropertyPlantAndEquipmentNet`	$59.46M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.23M	shares	Point-in-time
Goodwill	`Goodwill`	$439.70M	USD	Point-in-time
Goodwill	`Goodwill`	$369.99M	USD	Point-in-time
Other intangibles	`IntangibleAssetsNetExcludingGoodwill`	$216.43M	USD	Point-in-time
Other intangibles	`IntangibleAssetsNetExcludingGoodwill`	$189.25M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.60M	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`	$866.64M	USD	Point-in-time
Total assets	`Assets`	$1.03B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$5.10M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$6.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$52.47M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$52.95M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$130.77M	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`	$190.01M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$208.92M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$296.87M	USD	Point-in-time
Long-term deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$11.86M	USD	Point-in-time
Long-term deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$21.50M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$43.63M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$46.12M	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; 23,093,338 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; 23,093,338 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`	$192.57M	USD	Point-in-time
Treasury stock at cost; 4,399,128 and 4,233,810 shares in 2011 and 2010, respectively	`TreasuryStockValue`	$111.02M	USD	Point-in-time
Treasury stock at cost; 4,399,128 and 4,233,810 shares in 2011 and 2010, respectively	`TreasuryStockValue`	$124.05M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$360.25M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$421.17M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-13.97M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.03M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$475.86M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$424.91M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.03B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$873.17M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$177.79M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$511.89M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$218.72M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$612.15M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$107.11M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$308.30M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$131.40M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$367.66M	USD	3 Qtrs
Gross profit	`GrossProfit`	$203.58M	USD	3 Qtrs
Gross profit	`GrossProfit`	$70.69M	USD	1 Quarter
Gross profit	`GrossProfit`	$87.32M	USD	1 Quarter
Gross profit	`GrossProfit`	$244.49M	USD	3 Qtrs
Selling expenses	`SellingExpense`	$66.69M	USD	3 Qtrs
Selling expenses	`SellingExpense`	$24.55M	USD	1 Quarter
Selling expenses	`SellingExpense`	$54.44M	USD	3 Qtrs
Selling expenses	`SellingExpense`	$17.78M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$25.58M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$74.00M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$20.90M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$60.97M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$103.80M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$37.19M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$32.01M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$88.17M	USD	3 Qtrs
Net interest expense and deferred financing amortization	`InterestAndDebtExpense`	$2.32M	USD	1 Quarter
Net interest expense and deferred financing amortization	`InterestAndDebtExpense`	$2.18M	USD	1 Quarter
Net interest expense and deferred financing amortization	`InterestAndDebtExpense`	$6.90M	USD	3 Qtrs
Net interest expense and deferred financing amortization	`InterestAndDebtExpense`	$6.50M	USD	3 Qtrs
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$424.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-443.00K	USD	3 Qtrs
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-1.02M	USD	3 Qtrs
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$121.00K	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$80.83M	USD	3 Qtrs
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$29.95M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$96.27M	USD	3 Qtrs
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$35.29M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$35.36M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$28.96M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.82M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$9.35M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$20.60M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$23.46M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$51.87M	USD	3 Qtrs
Net earnings	`NetIncomeLoss`	$60.91M	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$1.30	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$2.91	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$1.16	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$3.38	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$2.84	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.26	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.13	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$3.29	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.81M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.82M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.00M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.04M	shares	1 Quarter
Dilutive equity awards	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	537,000.00	shares	3 Qtrs
Dilutive equity awards	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	540,000.00	shares	1 Quarter
Dilutive equity awards	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	459,000.00	shares	1 Quarter
Dilutive equity awards	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	460,000.00	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.27M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.27M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.54M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.58M	shares	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$20.60M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$23.46M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$51.87M	USD	3 Qtrs
Net earnings	`NetIncomeLoss`	$60.91M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.85M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.66M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.33M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.67M	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.70M	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-900.00K	USD	3 Qtrs
Non-cash share-based compensation	`ShareBasedCompensation`	$5.50M	USD	1 Quarter
Non-cash share-based compensation	`ShareBasedCompensation`	$11.06M	USD	3 Qtrs
Non-cash share-based compensation	`ShareBasedCompensation`	$3.70M	USD	1 Quarter
Non-cash share-based compensation	`ShareBasedCompensation`	$12.78M	USD	3 Qtrs
Unrealized loss on derivative financial instruments	`UnrealizedGainLossOnDerivatives`	$-4.00K	USD	3 Qtrs
Unrealized loss on derivative financial instruments	`UnrealizedGainLossOnDerivatives`	$-19.00K	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$19.34M	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$11.74M	USD	3 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$5.56M	USD	3 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$8.99M	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.26M	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.00M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.32M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$9.28M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$6.89M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$5.99M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$66.16M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$65.68M	USD	3 Qtrs
Net additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$603.00K	USD	1 Quarter
Net additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.01M	USD	3 Qtrs
Net additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.73M	USD	1 Quarter
Net additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.88M	USD	3 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-136.14M	USD	3 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.76M	USD	3 Qtrs
Net proceeds (repayments) under revolving credit facilities	`RepaymentsOfProceedsFromRevolvingCreditFacilities`	$-30.05M	USD	3 Qtrs
Net proceeds (repayments) under revolving credit facilities	`RepaymentsOfProceedsFromRevolvingCreditFacilities`	$88.00M	USD	3 Qtrs
Net proceeds (repayments) under foreign bank loan	`ProceedsFromRepaymentsOfOtherDebt`	$1.49M	USD	3 Qtrs
Net proceeds (repayments) under foreign bank loan	`ProceedsFromRepaymentsOfOtherDebt`	$-1.51M	USD	3 Qtrs
Repurchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$13.03M	USD	3 Qtrs
Repurchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$8.78M	USD	3 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$373.00K	USD	3 Qtrs
Net proceeds from stock issuances	`ProceedsFromIssuanceOfCommonStock`	$224.00K	USD	3 Qtrs
Net proceeds from stock issuances	`ProceedsFromIssuanceOfCommonStock`	$565.00K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$76.31M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-39.77M	USD	3 Qtrs
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-93.00K	USD	3 Qtrs
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-4.00K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.76M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.38M	USD	3 Qtrs
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`	$13.42M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$5.99M	USD	Point-in-time
Cash and cash equivalents at end of the nine-month period	`CashAndCashEquivalentsAtCarryingValue`	$7.66M	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`	$13.42M	USD	Point-in-time
Cash and cash equivalents at end of the nine-month period	`CashAndCashEquivalentsAtCarryingValue`	$5.99M	USD	Point-in-time
Interest paid	`InterestPaid`	$6.35M	USD	3 Qtrs
Interest paid	`InterestPaid`	$5.96M	USD	3 Qtrs
Income tax payments	`IncomeTaxesPaid`	$26.39M	USD	3 Qtrs
Income tax payments	`IncomeTaxesPaid`	$24.28M	USD	3 Qtrs
Stock issuance related to the acquisition of Cozzini	`StockIssuedAcquisitionTransaction`	$2.09M	USD	3 Qtrs
Contingent consideration related to the acquisition of Cozzini	`BusinessAcquisitionDateContingentConsiderationAtFairValue`	$2.00M	USD	3 Qtrs

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