10-Q Filing

MIDDLEBY CORP CIK: 769520 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001144204-12-027503`
Period End Date	20120331
Filing Date	20120510
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	midd-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 34 Cash Flow Statement 48

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, reserve for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$6.88M	USD	Point-in-time
Accounts receivable, reserve for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.17M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$56.24M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$54.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$40.22M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.71M	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Accounts receivable, net of reserve for doubtful accounts of $7,166 and $6,878	`AccountsReceivableNetCurrent`	$151.44M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Accounts receivable, net of reserve for doubtful accounts of $7,166 and $6,878	`AccountsReceivableNetCurrent`	$138.90M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Inventories, net	`InventoryNet`	$138.07M	USD	Point-in-time
Inventories, net	`InventoryNet`	$124.30M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$12.34M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$20.59M	USD	Point-in-time
Current deferred taxes	`DeferredTaxAssetsNetCurrent`	$39.45M	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`	$39.09M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$365.73M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.27M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.09M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$367.38M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.55M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $56,243 and $54,014	`PropertyPlantAndEquipmentNet`	$62.91M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.44M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $56,243 and $54,014	`PropertyPlantAndEquipmentNet`	$62.51M	USD	Point-in-time
Goodwill	`Goodwill`	$487.29M	USD	Point-in-time
Goodwill	`Goodwill`	$477.81M	USD	Point-in-time
Other intangibles	`IntangibleAssetsNetExcludingGoodwill`	$234.73M	USD	Point-in-time
Other intangibles	`IntangibleAssetsNetExcludingGoodwill`	$231.80M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.08M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.91M	USD	Point-in-time
Total assets	`Assets`	$1.15B	USD	Point-in-time
Total assets	`Assets`	$881.76M	USD	Point-in-time
Total assets	`Assets`	$1.15B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$315.83M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$315.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$60.83M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$63.39M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$146.64M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$170.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$549.62M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$522.57M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.50M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.52M	USD	Point-in-time
Long-term deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$37.84M	USD	Point-in-time
Long-term deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$42.20M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$46.58M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$45.60M	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; 23,273,540 and 23,093,338 shares issued in 2012 and 2011, respectively	`CommonStockValue`	$137.00K	USD	Point-in-time
Common stock, $0.01 par value; 47,500,000 shares authorized; 23,273,540 and 23,093,338 shares issued in 2012 and 2011, respectively	`CommonStockValue`	$139.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$202.32M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$214.05M	USD	Point-in-time
Treasury stock at cost; 4,551,506 and 4,437,428 shares in 2012 and 2011, respectively	`TreasuryStockValue`	$126.68M	USD	Point-in-time
Treasury stock at cost; 4,551,506 and 4,437,428 shares in 2012 and 2011, respectively	`TreasuryStockValue`	$137.73M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$455.73M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$477.82M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-14.54M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-20.53M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$510.97M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$539.74M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.15B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.15B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$182.57M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$228.82M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$141.34M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$110.74M	USD	1 Quarter
Gross profit	`GrossProfit`	$87.48M	USD	1 Quarter
Gross profit	`GrossProfit`	$71.83M	USD	1 Quarter
Selling and distribution expenses	`SellingExpense`	$20.57M	USD	1 Quarter
Selling and distribution expenses	`SellingExpense`	$25.18M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$19.90M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$25.65M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$36.66M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$31.36M	USD	1 Quarter
Net interest expense and deferred financing amortization, net	`InterestAndDebtExpense`	$2.09M	USD	1 Quarter
Net interest expense and deferred financing amortization, net	`InterestAndDebtExpense`	$2.06M	USD	1 Quarter
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$162.00K	USD	1 Quarter
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$-1.27M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$29.47M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$33.30M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.64M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.21M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$17.82M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$22.09M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.00	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.22	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.20	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.97	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.90M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.15M	shares	1 Quarter
Dilutive common stock equivalents	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	317,000.00	shares	1 Quarter
Dilutive common stock equivalents	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	544,000.00	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.46M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.45M	shares	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$28.09M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$18.46M	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$17.82M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$22.09M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.05M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.05M	USD	1 Quarter
Non-cash share-based compensation	`ShareBasedCompensation`	$2.75M	USD	1 Quarter
Non-cash share-based compensation	`ShareBasedCompensation`	$1.96M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$2.31M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-300.00K	USD	1 Quarter
Unrealized loss/(gain) on derivative financial instruments	`UnrealizedGainLossOnDerivatives`	$-1.00K	USD	1 Quarter
Unrealized loss/(gain) on derivative financial instruments	`UnrealizedGainLossOnDerivatives`	$40.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-524.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-15.41M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$10.31M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$9.41M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$8.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-6.87M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.23M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-18.22M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-18.38M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.75M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.54M	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.70M	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.58M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.47M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.73M	USD	1 Quarter
Net (repayments) proceeds under current revolving credit facilities	`RepaymentsOfProceedsFromRevolvingCreditFacilities`	$24.45M	USD	1 Quarter
Net (repayments) proceeds under current revolving credit facilities	`RepaymentsOfProceedsFromRevolvingCreditFacilities`	$-2.20M	USD	1 Quarter
Net proceeds under foreign bank loan	`ProceedsFromRepaymentsOfOtherDebt`	$1.20M	USD	1 Quarter
Net proceeds under foreign bank loan	`ProceedsFromRepaymentsOfOtherDebt`	$623.00K	USD	1 Quarter
Repurchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$9.45M	USD	1 Quarter
Repurchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$11.05M	USD	1 Quarter
Net proceeds from stock issuances	`ProceedsFromIssuanceOfCommonStock`	$80.00K	USD	1 Quarter
Net proceeds from stock issuances	`ProceedsFromIssuanceOfCommonStock`	$544.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.51M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.70M	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$723.00K	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$171.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.60M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.50M	USD	1 Quarter
Cash and cash equivalents at beginning of quarter	`CashAndCashEquivalentsAtCarryingValue`	$9.26M	USD	Point-in-time
Cash and cash equivalents at beginning of quarter	`CashAndCashEquivalentsAtCarryingValue`	$40.22M	USD	Point-in-time
Cash and cash equivalents at beginning of quarter	`CashAndCashEquivalentsAtCarryingValue`	$28.71M	USD	Point-in-time
Cash and cash equivalents at beginning of quarter	`CashAndCashEquivalentsAtCarryingValue`	$7.66M	USD	Point-in-time
Cash and cash equivalents at end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$9.26M	USD	Point-in-time
Cash and cash equivalents at end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$40.22M	USD	Point-in-time
Cash and cash equivalents at end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$28.71M	USD	Point-in-time
Cash and cash equivalents at end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$7.66M	USD	Point-in-time

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