$MIDD
MIDDLEBY Corp

2022 Q3 Form 10-Q Financial Statement

#000076952022000018 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $1.014B $994.7M $866.4M
YoY Change 25.33% 31.21% 18.8%
Cost Of Revenue $652.9M $664.2M $550.8M
YoY Change 29.27% 37.74% 16.37%
Gross Profit $360.7M $330.5M $315.6M
YoY Change 18.77% 19.8% 23.29%
Gross Profit Margin 35.59% 33.23% 36.43%
Selling, General & Admin $189.5M $206.1M $172.0M
YoY Change 14.35% 32.99% 16.74%
% of Gross Profit 52.53% 62.35% 54.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.76M $46.74M $34.57M
YoY Change 5.8% 53.59% 19.62%
% of Gross Profit 2.98% 14.14% 10.95%
Operating Expenses $189.5M $206.1M $172.0M
YoY Change 14.35% 32.99% 16.66%
Operating Profit $167.2M $122.6M $143.7M
YoY Change 22.32% 1.15% 32.3%
Interest Expense -$20.84M -$17.65M -$13.68M
YoY Change 46.55% 9.65% -39.75%
% of Operating Profit -12.46% -14.4% -9.52%
Other Income/Expense, Net -$5.888M -$4.061M $11.04M
YoY Change -1355.44% -340.15% -356.63%
Pretax Income $151.3M $112.4M $136.0M
YoY Change 12.48% -4.91% 105.72%
Income Tax $38.00M $26.60M $33.30M
% Of Pretax Income 25.12% 23.67% 24.49%
Net Earnings $113.2M $85.76M $102.7M
YoY Change -6.08% -3.93% 98.22%
Net Earnings / Revenue 11.17% 8.62% 11.85%
Basic Earnings Per Share $2.10 $1.57
Diluted Earnings Per Share $2.07 $1.52 $1.799M
COMMON SHARES
Basic Shares Outstanding 54.03M shares 54.67M shares 54.66M shares
Diluted Shares Outstanding 54.65M shares 56.36M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $166.6M $146.7M $180.4M
YoY Change -57.89% -52.58% -32.73%
Cash & Equivalents $166.6M $146.7M $180.4M
Short-Term Investments
Other Short-Term Assets $99.80M $88.51M $90.57M
YoY Change 31.26% 41.17% 15.38%
Inventory $1.009B $924.8M $837.4M
Prepaid Expenses
Receivables $627.3M $629.9M $577.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.935B $1.824B $1.707B
YoY Change 26.83% 30.92% 34.36%
LONG-TERM ASSETS
Property, Plant & Equipment $417.7M $382.6M $381.0M
YoY Change 23.97% 13.77% 10.6%
Goodwill $2.221B $2.236B $2.243B
YoY Change 14.95% 15.96% 15.99%
Intangibles $1.805B $1.835B $1.875B
YoY Change 28.32% 28.49% 29.3%
Long-Term Investments
YoY Change
Other Assets $174.0M $165.6M $143.5M
YoY Change 29.61% 27.89% 13.16%
Total Long-Term Assets $4.644B $4.650B $4.677B
YoY Change 19.18% 19.34% 18.94%
TOTAL ASSETS
Total Short-Term Assets $1.935B $1.824B $1.707B
Total Long-Term Assets $4.644B $4.650B $4.677B
Total Assets $6.579B $6.474B $6.384B
YoY Change 21.33% 22.39% 22.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $323.2M $305.3M $304.7M
YoY Change 44.64% 43.06% 66.73%
Accrued Expenses $604.2M $585.4M $582.9M
YoY Change 24.53% 21.97% 17.86%
Deferred Revenue $133.3M
YoY Change 42.02%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $49.08M $27.69M $27.29M
YoY Change 110.99% 31.29% 18.95%
Total Short-Term Liabilities $976.4M $918.4M $914.9M
YoY Change 33.42% 28.55% 30.65%
LONG-TERM LIABILITIES
Long-Term Debt $2.647B $2.570B $2.387B
YoY Change 47.43% 42.7% 39.86%
Other Long-Term Liabilities $161.3M $154.2M $180.8M
YoY Change -13.96% -18.95% -10.57%
Total Long-Term Liabilities $2.809B $2.724B $2.568B
YoY Change 41.63% 36.81% 34.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $976.4M $918.4M $914.9M
Total Long-Term Liabilities $2.809B $2.724B $2.568B
Total Liabilities $3.785B $3.643B $3.483B
YoY Change 39.42% 34.63% 33.48%
SHAREHOLDERS EQUITY
Retained Earnings $3.261B $3.148B $3.062B
YoY Change 17.16% 18.21% 19.21%
Common Stock $147.0K $147.0K $147.0K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $806.0M $736.4M $566.4M
YoY Change 49.4% 36.65% 5.45%
Treasury Stock Shares 9.625M shares 9.117M shares 8.170M shares
Shareholders Equity $2.418B $2.428B $2.494B
YoY Change
Total Liabilities & Shareholders Equity $6.579B $6.474B $6.384B
YoY Change 21.33% 22.39% 22.7%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $113.2M $85.76M $102.7M
YoY Change -6.08% -3.93% 98.22%
Depreciation, Depletion And Amortization $10.76M $46.74M $34.57M
YoY Change 5.8% 53.59% 19.62%
Cash From Operating Activities $104.8M -$15.34M $77.36M
YoY Change -6.99% -125.7% -62.92%
INVESTING ACTIVITIES
Capital Expenditures -$17.64M $14.50M -$21.82M
YoY Change 66.2% 66.15% 80.32%
Acquisitions $9.389M
YoY Change 463.23%
Other Investing Activities -$65.50M -$9.389M -$574.4M
YoY Change 890.73% -652.29% 1297.48%
Cash From Investing Activities -$83.13M -$24.13M -$596.2M
YoY Change 382.71% 242.8% 1018.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $170.0M
YoY Change 9548.86%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.017M $8.721M 448.4M
YoY Change -186.44% -205.26% -480.99%
NET CHANGE
Cash From Operating Activities 104.8M -$15.34M 77.36M
Cash From Investing Activities -83.13M -$24.13M -596.2M
Cash From Financing Activities 9.017M $8.721M 448.4M
Net Change In Cash 30.69M -$33.69M -70.40M
YoY Change -63.91% -181.71% -287.22%
FREE CASH FLOW
Cash From Operating Activities $104.8M -$15.34M $77.36M
Capital Expenditures -$17.64M $14.50M -$21.82M
Free Cash Flow $122.4M -$29.84M $99.18M
YoY Change -0.69% -158.55% -55.06%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Central Index Key
EntityCentralIndexKey
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dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Fiscal Period Focus
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Q2
dei Amendment Flag
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dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
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2022-07-02
dei Document Transition Report
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dei Entity File Number
EntityFileNumber
1-9973
dei Entity Registrant Name
EntityRegistrantName
THE MIDDLEBY CORPORATION
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
36-3352497
dei Entity Address Address Line1
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1400 Toastmaster Drive,
dei Entity Address City Or Town
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dei Entity Address State Or Province
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IL
dei Entity Address Postal Zip Code
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dei City Area Code
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dei Local Phone Number
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741-3300
dei Entity Current Reporting Status
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dei Entity Interactive Data Current
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dei Entity Filer Category
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dei Security12b Title
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
143714000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
209026000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q3 us-gaap Net Income Loss
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CY2022Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
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CY2022Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBeforeReclassificationAdjustmentsTax
3088000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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CY2022Q3 midd Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossTax
2923000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
8128000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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13157000 usd
CY2022Q3 us-gaap Treasury Stock Value Acquired Cost Method
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69596000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
2417970000 usd
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us-gaap Net Income Loss
NetIncomeLoss
199003000 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBeforeReclassificationAdjustmentsTax
4075000 usd
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-26199000 usd
midd Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossTax
13815000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
39244000 usd
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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26880000 usd
us-gaap Treasury Stock Value Acquired Cost Method
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239609000 usd
midd Adjustments To Additional Paid In Capital Purchase Of Capped Calls Tax
AdjustmentsToAdditionalPaidInCapitalPurchaseOfCappedCallsTax
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us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
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CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
2417970000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
120585000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
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CY2021Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBeforeReclassificationAdjustmentsTax
254000 usd
CY2021Q3 midd Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossTax
245000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
703000 usd
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
9329000 usd
CY2021Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
600000 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
2125876000 usd
CY2021Q1 us-gaap Stockholders Equity
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us-gaap Net Income Loss
NetIncomeLoss
209848000 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Before Reclassification Adjustments Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBeforeReclassificationAdjustmentsTax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
2818000 usd
midd Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossTax
4572000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
13115000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
16938000 usd
us-gaap Treasury Stock Value Acquired Cost Method
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2362000 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
2125876000 usd
us-gaap Net Income Loss
NetIncomeLoss
199003000 usd
us-gaap Net Income Loss
NetIncomeLoss
209848000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Depreciation Depletion And Amortization
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us-gaap Share Based Compensation
ShareBasedCompensation
26880000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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midd Net Periodic Benefit Cost Other Components
NetPeriodicBenefitCostOtherComponents
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midd Net Periodic Benefit Cost Other Components
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us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
763000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
16981000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
0 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
50196000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
63502000 usd
us-gaap Increase Decrease In Inventories
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171899000 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
10859000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
68049000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
19530000 usd
us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
33109000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
32133000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19311000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
5948000 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
240000 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-18731000 usd
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Long Term Lines Of Credit
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700000000 usd
us-gaap Proceeds From Long Term Lines Of Credit
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us-gaap Repayments Of Lines Of Credit
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426500000 usd
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
29870000 usd
midd Payments For Premiums For Capped Call Confirmations Debt Issuance
PaymentsForPremiumsForCappedCallConfirmationsDebtIssuance
9655000 usd
midd Payments For Premiums For Capped Call Confirmations Debt Issuance
PaymentsForPremiumsForCappedCallConfirmationsDebtIssuance
0 usd
us-gaap Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
693000 usd
us-gaap Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
169000 usd
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
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us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
5515000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2362000 usd
us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
17738000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Disposal Group Including Discontinued Operations
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
127459000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
180362000 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
268103000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
166589000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
395562000 usd
us-gaap Use Of Estimates
UseOfEstimates
Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses. Significant estimates and assumptions are used for, but are not limited to, allowances for doubtful accounts, reserves for excess and obsolete inventories, long-lived and intangible assets, warranty reserves, insurance reserves, income tax reserves, non-cash share-based compensation and post-retirement obligations. Actual results could differ from the company's estimates.
CY2022Q3 us-gaap Share Based Compensation
ShareBasedCompensation
13200000 usd
us-gaap Interest Paid
InterestPaid
34100000 usd
CY2021Q3 us-gaap Share Based Compensation
ShareBasedCompensation
9300000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
26900000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
16900000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
38000000 usd
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.251
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13900000 usd
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.103
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
64600000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.245
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
42800000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.169
midd Uk Tax Rate Percentage
UKTaxRatePercentage
0.19
midd Uk Tax Rate Change In Enacted Tax Rate Percentage
UKTaxRateChangeInEnactedTaxRatePercentage
0.25
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.245
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.245
us-gaap Interest Paid
InterestPaid
26800000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
52800000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
42800000 usd
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
7546 shares
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
12656 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
6600 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
10463 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
1150852 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
1430308 shares
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
2050391000 usd
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1872787000 usd
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
228005000 usd
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
198626000 usd
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
4.20
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
3.60
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
4.11
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
3.53
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
Litigation MattersFrom time to time, the company is subject to proceedings, lawsuits and other claims related to products, suppliers, employees, customers and competitors. The company maintains insurance to partially cover product liability, workers compensation, property and casualty, and general liability matters. The company is required to assess the likelihood of any adverse judgments or outcomes to these matters as well as potential ranges of probable losses. A determination of the amount of accrual required, if any, for these contingencies is made after assessment of each matter and the related insurance coverage. The required accrual may change in the future due to new developments or changes in approach such as a change in settlement strategy in dealing with these matters. The company does not believe that any pending litigation will have a material effect on its financial condition, results of operations or cash flows.
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1013601000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2008277000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
808773000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1566831000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
88500000 usd
CY2022Q3 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
32678000 usd
CY2022Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
21592000 usd
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
197600000 usd
CY2022Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
133315000 usd
CY2022Q3 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
11063000 usd
CY2022Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
11602000 usd
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
9300000 usd
midd Contract With Customer Liability Increase For Contract Acquired During The Period
ContractWithCustomerLiabilityIncreaseForContractAcquiredDuringThePeriod
180100000 usd
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0 usd
CY2022Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-359084000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-63106000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
7817000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-55289000 usd
CY2022Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-414373000 usd
CY2021Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-488428000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-11052000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
10230000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-822000 usd
CY2021Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-489250000 usd
CY2022Q3 midd Accumulated Other Comprehensiveincome Loss Defined Benefit Plan Tax
AccumulatedOtherComprehensiveincomeLossDefinedBenefitPlanTax
-35400000 usd
CY2022Q3 midd Accumulated Other Comprehensive Income Loss Cumulative Changesin Net Gain Lossfrom Cash Flow Hedges Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesinNetGainLossfromCashFlowHedgesTax
9300000 usd
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
4100000 usd
midd Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossTax
13800000 usd
midd Other Comprehensive Income Loss Unrealized Gain Loss Certain Investments Tax
OtherComprehensiveIncomeLossUnrealizedGainLossCertainInvestmentsTax
-400000 usd
CY2021Q3 midd Accumulated Other Comprehensiveincome Loss Defined Benefit Plan Tax
AccumulatedOtherComprehensiveincomeLossDefinedBenefitPlanTax
-89700000 usd
CY2021Q3 midd Accumulated Other Comprehensive Income Loss Cumulative Changesin Net Gain Lossfrom Cash Flow Hedges Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesinNetGainLossfromCashFlowHedgesTax
-8500000 usd
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-600000 usd
midd Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossTax
4600000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
113248000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
120585000 usd
us-gaap Net Income Loss
NetIncomeLoss
199003000 usd
us-gaap Net Income Loss
NetIncomeLoss
209848000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-92211000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-505000 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-119402000 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-11119000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-19955000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-1152000 usd
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-26199000 usd
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
2818000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
8128000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
703000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
39244000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
13115000 usd
CY2022Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-2678000 usd
CY2021Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 usd
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