10-Q Filing

MIDDLEBY CORP CIK: 769520 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001445305-13-001261`
Period End Date	20130331
Filing Date	20130509
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	midd-20130330.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 34 Cash Flow Statement 56

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, reserve for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$6.52M	USD	Point-in-time
Accounts receivable, reserve for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$6.38M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$63.97M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$64.59M	USD	Point-in-time
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$43.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$40.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.71M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.37M	USD	Point-in-time
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Accounts receivable, net of reserve for doubtful accounts of $6,522 and $6,377	`AccountsReceivableNetCurrent`	$189.97M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Accounts receivable, net of reserve for doubtful accounts of $6,522 and $6,377	`AccountsReceivableNetCurrent`	$162.23M	USD	Point-in-time
Inventories, net	`InventoryNet`	$187.03M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Inventories, net	`InventoryNet`	$153.49M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$25.82M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$19.15M	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
Current deferred taxes	`DeferredTaxAssetsNetCurrent`	$43.57M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	47.50M	shares	Point-in-time
Current deferred taxes	`DeferredTaxAssetsNetCurrent`	$43.37M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	47.50M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$412.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$490.15M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.44M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.44M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.65M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $64,591 and $63,974	`PropertyPlantAndEquipmentNet`	$139.32M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $64,591 and $63,974	`PropertyPlantAndEquipmentNet`	$63.89M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.64M	shares	Point-in-time
Goodwill	`Goodwill`	$667.61M	USD	Point-in-time
Goodwill	`Goodwill`	$526.01M	USD	Point-in-time
Other intangibles	`IntangibleAssetsNetExcludingGoodwill`	$379.43M	USD	Point-in-time
Other intangibles	`IntangibleAssetsNetExcludingGoodwill`	$233.34M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.44M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$21.24M	USD	Point-in-time
Total assets	`Assets`	$1.24B	USD	Point-in-time
Total assets	`Assets`	$1.15B	USD	Point-in-time
Total assets	`Assets`	$1.70B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$1.67M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$1.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$88.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$69.65M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$170.93M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$199.48M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$242.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$290.03M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$636.76M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$258.22M	USD	Point-in-time
Long-term deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$44.84M	USD	Point-in-time
Long-term deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$43.95M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$48.76M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$52.94M	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; 23,442,565 and 23,438,287 shares issued in 2013 and 2012, respectively	`CommonStockValue`	$141.00K	USD	Point-in-time
Common stock, $0.01 par value; 47,500,000 shares authorized; 23,442,565 and 23,438,287 shares issued in 2013 and 2012, respectively	`CommonStockValue`	$141.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$233.21M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$237.28M	USD	Point-in-time
Treasury stock, at cost; 4,648,795 and 4,635,315 shares in 2013 and 2012, respectively	`TreasuryStockValue`	$148.44M	USD	Point-in-time
Treasury stock, at cost; 4,648,795 and 4,635,315 shares in 2013 and 2012, respectively	`TreasuryStockValue`	$147.35M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$602.33M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$576.42M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-12.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-17.22M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$674.08M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$650.03M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.70B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.24B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$327.45M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$228.82M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$206.18M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$141.34M	USD	1 Quarter
Gross profit	`GrossProfit`	$121.27M	USD	1 Quarter
Gross profit	`GrossProfit`	$87.48M	USD	1 Quarter
Selling and distribution expenses	`SellingExpense`	$36.15M	USD	1 Quarter
Selling and distribution expenses	`SellingExpense`	$25.18M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$25.65M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$42.92M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$36.66M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$42.20M	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`	$3.43M	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-1.27M	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-213.00K	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$38.55M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$33.30M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$12.65M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.21M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$22.09M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$25.90M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$1.41	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$1.22	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$1.20	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$1.39	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.39M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.15M	shares	1 Quarter
Dilutive common stock equivalents (in shares)	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	223,000.00	shares	1 Quarter
Dilutive common stock equivalents (in shares)	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	317,000.00	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.62M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.46M	shares	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$28.09M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$21.08M	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$22.09M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$25.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.05M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.02M	USD	1 Quarter
Non-cash share-based compensation	`ShareBasedCompensation`	$2.96M	USD	1 Quarter
Non-cash share-based compensation	`ShareBasedCompensation`	$2.75M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$2.31M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$1.11M	USD	1 Quarter
Unrealized loss/(gain) on derivative financial instruments	`UnrealizedGainLossOnDerivatives`	$-5.00K	USD	1 Quarter
Unrealized loss/(gain) on derivative financial instruments	`UnrealizedGainLossOnDerivatives`	$-1.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-15.41M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$8.60M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$13.23M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$9.41M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.47M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$8.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-941.00K	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`	$-2.23M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.75M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$13.53M	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.58M	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.92M	USD	1 Quarter
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-381.76M	USD	1 Quarter
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.47M	USD	1 Quarter
Net (repayments) proceeds under current revolving credit facilities	`RepaymentsOfProceedsFromRevolvingCreditFacilities`	-	USD	1 Quarter
Net (repayments) proceeds under current revolving credit facilities	`RepaymentsOfProceedsFromRevolvingCreditFacilities`	$378.50M	USD	1 Quarter
Net (Repayments) Proceeds Under Previous Revolving Credit Facilities	`NetRepaymentsProceedsUnderPreviousRevolvingCreditFacilities`	-	USD	1 Quarter
Net (Repayments) Proceeds Under Previous Revolving Credit Facilities	`NetRepaymentsProceedsUnderPreviousRevolvingCreditFacilities`	$2.20M	USD	1 Quarter
Net (repayments) proceeds under foreign bank loan	`ProceedsFromRepaymentsOfOtherDebt`	$1.20M	USD	1 Quarter
Net (repayments) proceeds under foreign bank loan	`ProceedsFromRepaymentsOfOtherDebt`	$-47.00K	USD	1 Quarter
Repayments of Notes Payable	`RepaymentsOfNotesPayable`	$5.00K	USD	1 Quarter
Repayments of Notes Payable	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Repurchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$11.05M	USD	1 Quarter
Repurchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$1.09M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$11.00K	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Excess tax benefit related to share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.09M	USD	1 Quarter
Excess tax benefit related to share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Net proceeds from stock issuances	`ProceedsFromIssuanceOfCommonStock`	$544.00K	USD	1 Quarter
Net proceeds from stock issuances	`ProceedsFromIssuanceOfCommonStock`	$13.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$378.45M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.51M	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-817.00K	USD	1 Quarter
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$723.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.50M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.40M	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$43.77M	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`	$28.71M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$34.37M	USD	Point-in-time
Cash and cash equivalents at end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$43.77M	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`	$34.37M	USD	Point-in-time

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