10-Q Filing

MIDDLEBY CORP CIK: 769520 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001445305-12-003569`
Period End Date	20120930
Filing Date	20121108
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	midd-20120929.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 68 Cash Flow Statement 58

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`	$7.12M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$54.01M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$57.94M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.42M	USD	Point-in-time
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$40.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.66M	USD	Point-in-time
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.10M	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 $7,116 and $6,878	`AccountsReceivableNetCurrent`	$151.44M	USD	Point-in-time
Accounts receivable, net of reserve for doubtful accounts of $7,116 and $6,878	`AccountsReceivableNetCurrent`	$145.11M	USD	Point-in-time
Inventories, net	`InventoryNet`	$147.02M	USD	Point-in-time
Inventories, net	`InventoryNet`	$124.30M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$20.20M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$12.34M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	47.50M	shares	Point-in-time
Current deferred taxes	`DeferredTaxAssetsNetCurrent`	$37.12M	USD	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`	$367.38M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$384.55M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.30M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.09M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.44M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $57,940 and $54,014	`PropertyPlantAndEquipmentNet`	$64.04M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.59M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $57,940 and $54,014	`PropertyPlantAndEquipmentNet`	$62.51M	USD	Point-in-time
Goodwill	`Goodwill`	$477.81M	USD	Point-in-time
Goodwill	`Goodwill`	$505.18M	USD	Point-in-time
Other intangibles	`IntangibleAssetsNetExcludingGoodwill`	$234.73M	USD	Point-in-time
Other intangibles	`IntangibleAssetsNetExcludingGoodwill`	$230.06M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.08M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.16M	USD	Point-in-time
Total assets	`Assets`	$1.15B	USD	Point-in-time
Total assets	`Assets`	$1.19B	USD	Point-in-time
Total assets	`Assets`	$1.03B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$315.83M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$3.41M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$74.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$63.39M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$155.86M	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`	$233.37M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$265.90M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.50M	USD	Point-in-time
Long-term deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$37.84M	USD	Point-in-time
Long-term deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$36.82M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$51.72M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$46.58M	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; 23,295,541 and 23,093,338 shares issued in 2012 and 2011, respectively	`CommonStockValue`	$140.00K	USD	Point-in-time
Common stock, $0.01 par value; 47,500,000 shares authorized; 23,295,541 and 23,093,338 shares issued in 2012 and 2011, respectively	`CommonStockValue`	$137.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$202.32M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$225.88M	USD	Point-in-time
Treasury stock at cost; 4,586,105 and 4,437,428 shares in 2012 and 2011, respectively	`TreasuryStockValue`	$142.67M	USD	Point-in-time
Treasury stock at cost; 4,586,105 and 4,437,428 shares in 2012 and 2011, respectively	`TreasuryStockValue`	$126.68M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$455.73M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$538.63M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-15.80M	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`	$606.18M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.19B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.15B	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$746.56M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$218.72M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$257.70M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$612.15M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$157.25M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$367.66M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$456.82M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$131.40M	USD	1 Quarter
Gross profit	`GrossProfit`	$244.49M	USD	3 Qtrs
Gross profit	`GrossProfit`	$87.32M	USD	1 Quarter
Gross profit	`GrossProfit`	$289.74M	USD	3 Qtrs
Gross profit	`GrossProfit`	$100.44M	USD	1 Quarter
Selling and distribution expenses	`SellingExpense`	$25.96M	USD	1 Quarter
Selling and distribution expenses	`SellingExpense`	$24.55M	USD	1 Quarter
Selling and distribution expenses	`SellingExpense`	$66.69M	USD	3 Qtrs
Selling and distribution expenses	`SellingExpense`	$79.41M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$80.90M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$27.05M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$74.00M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$25.58M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$37.19M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$103.80M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$129.43M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$47.43M	USD	1 Quarter
Net interest expense and deferred financing amortization, net	`InterestAndDebtExpense`	$7.05M	USD	3 Qtrs
Net interest expense and deferred financing amortization, net	`InterestAndDebtExpense`	$6.50M	USD	3 Qtrs
Net interest expense and deferred financing amortization, net	`InterestAndDebtExpense`	$2.99M	USD	1 Quarter
Net interest expense and deferred financing amortization, net	`InterestAndDebtExpense`	$2.32M	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-2.77M	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$424.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-1.02M	USD	3 Qtrs
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-3.65M	USD	3 Qtrs
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$35.29M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$41.68M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$118.73M	USD	3 Qtrs
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$96.27M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.82M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$35.82M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.91M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$35.36M	USD	3 Qtrs
Net earnings	`NetIncomeLoss`	$23.46M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$82.91M	USD	3 Qtrs
Net earnings	`NetIncomeLoss`	$29.77M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$60.91M	USD	3 Qtrs
Basic (in usd per share)	`EarningsPerShareBasic`	$1.30	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$1.63	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$4.55	USD	3 Qtrs
Basic (in usd per share)	`EarningsPerShareBasic`	$3.38	USD	3 Qtrs
Diluted (in usd per share)	`EarningsPerShareDiluted`	$1.60	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$3.29	USD	3 Qtrs
Diluted (in usd per share)	`EarningsPerShareDiluted`	$1.26	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$4.47	USD	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.30M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.24M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.04M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.00M	shares	3 Qtrs
Dilutive common stock equivalents (in shares)	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	302,000.00	shares	3 Qtrs
Dilutive common stock equivalents (in shares)	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	540,000.00	shares	1 Quarter
Dilutive common stock equivalents (in shares)	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	537,000.00	shares	3 Qtrs
Dilutive common stock equivalents (in shares)	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	284,000.00	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.54M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.58M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.58M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.54M	shares	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$11.88M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$35.96M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$50.98M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$87.64M	USD	3 Qtrs

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$23.46M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$82.91M	USD	3 Qtrs
Net earnings	`NetIncomeLoss`	$29.77M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$60.91M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.33M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.10M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.67M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$20.69M	USD	3 Qtrs
Non-cash share-based compensation	`ShareBasedCompensation`	$12.78M	USD	3 Qtrs
Non-cash share-based compensation	`ShareBasedCompensation`	$3.10M	USD	1 Quarter
Non-cash share-based compensation	`ShareBasedCompensation`	$9.01M	USD	3 Qtrs
Non-cash share-based compensation	`ShareBasedCompensation`	$5.50M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$868.00K	USD	3 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-900.00K	USD	3 Qtrs
Unrealized loss/(gain) on derivative financial instruments	`UnrealizedGainLossOnDerivatives`	$-19.00K	USD	3 Qtrs
Unrealized loss/(gain) on derivative financial instruments	`UnrealizedGainLossOnDerivatives`	$-18.00K	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-12.57M	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$11.74M	USD	3 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$14.34M	USD	3 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$8.99M	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$9.15M	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.26M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$8.16M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.32M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-16.74M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$5.99M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$65.68M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$93.99M	USD	3 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.88M	USD	3 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.96M	USD	3 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-136.14M	USD	3 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-44.59M	USD	3 Qtrs
Net (repayments) proceeds under current revolving credit facilities	`RepaymentsOfProceedsFromRevolvingCreditFacilities`	-	USD	3 Qtrs
Net (repayments) proceeds under current revolving credit facilities	`RepaymentsOfProceedsFromRevolvingCreditFacilities`	$264.50M	USD	3 Qtrs
Net (repayments) proceeds under foreign bank loan	`ProceedsFromRepaymentsOfOtherDebt`	$-3.11M	USD	3 Qtrs
Net (repayments) proceeds under foreign bank loan	`ProceedsFromRepaymentsOfOtherDebt`	$1.49M	USD	3 Qtrs
Repurchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$13.03M	USD	3 Qtrs
Repurchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$15.98M	USD	3 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$373.00K	USD	3 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$5.47M	USD	3 Qtrs
Excess tax benefit related to share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	3 Qtrs
Excess tax benefit related to share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$12.51M	USD	3 Qtrs
Net proceeds from stock issuances	`ProceedsFromIssuanceOfCommonStock`	$2.04M	USD	3 Qtrs
Net proceeds from stock issuances	`ProceedsFromIssuanceOfCommonStock`	$224.00K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$76.31M	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-54.92M	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`	$406.00K	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.76M	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.11M	USD	3 Qtrs
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$13.42M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$40.22M	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`	$35.10M	USD	Point-in-time
Cash and cash equivalents at end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$13.42M	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`	$7.66M	USD	Point-in-time
Cash and cash equivalents at end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$35.10M	USD	Point-in-time

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