Middleby Earnings 2020-09-26

Balance Sheet	Income Statement	Cash Flow
Assets, Equity	Rev, G Profit, Net Income	Ops, Inv, Fin

midd-20200926

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)


☒			Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended September 26, 2020


☐			Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Commission File No. 1-9973

THE MIDDLEBY CORPORATION

(Exact name of registrant as specified in its charter)


Delaware			36-3352497
(State or other jurisdiction of incorporation or organization)			(IRS Employer Identification Number)


1400 Toastmaster Drive,	Elgin,	Illinois	60120
(Address of principal executive offices)			(Zip Code)


Registrant's telephone number, including area code:			(847)			741-3300

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes x No o

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes x No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “accelerated filer," "large accelerated filer," "smaller reporting company," and "emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☒

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Securities registered pursuant to Section 12(b) of the Act:


Title of Each Class	Trading Symbol(s)	Name of Each Exchange on Which Registered
Common Stock	MIDD	Nasdaq Global Market

As of October 30, 2020, there were 55,612,255 shares of the registrant's common stock outstanding.

THE MIDDLEBY CORPORATION

QUARTER ENDED SEPTEMBER 26, 2020

INDEX


DESCRIPTION		PAGE
PART I. FINANCIAL INFORMATION

Item 1.	Condensed Consolidated Financial Statements (unaudited)

	CONDENSED CONSOLIDATED BALANCE SHEETS as of SEPTEMBER 26, 2020 and DECEMBER 28, 2019	1

	CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME for the three and nine months ended SEPTEMBER 26, 2020 and SEPTEMBER 28, 2019	2

	CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY for the three and nine months ended SEPTEMBER 26, 2020 and SEPTEMBER 28, 2019	3

	CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS for the nine months ended SEPTEMBER 26, 2020 and SEPTEMBER 28, 2019	5

	NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	6

Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	30

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	38

Item 4.	Controls and Procedures	39

PART II. OTHER INFORMATION

Item 1.A	Risk Factors	40

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	42

Item 6.	Exhibits	43

PART I. FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements

THE MIDDLEBY CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(In Thousands, Except Share Data)

(Unaudited)


ASSETS	Sep 26, 2020		Dec 28, 2019
Current assets:
Cash and cash equivalents	$	220,310	$	94,500
Accounts receivable, net of reserve for doubtful accounts of $20,237 and $14,886	381,273		447,612
Inventories, net	557,512		585,699
Prepaid expenses and other	67,261		61,224
Prepaid taxes	14,826		20,161
Total current assets	1,241,182		1,209,196
Property, plant and equipment, net of accumulated depreciation of $223,844 and $197,629	343,860		352,145
Goodwill	1,855,361		1,849,747
Other intangibles, net of amortization of $385,737 and $333,507	1,420,600		1,443,381
Long-term deferred tax assets	35,115		36,932
Other assets	124,066		110,742
Total assets	$	5,020,184	$	5,002,143

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current maturities of long-term debt	$	23,152	$	2,894
Accounts payable	152,262		173,693
Accrued expenses	421,580		416,550
Total current liabilities	596,994		593,137
Long-term debt	1,808,973		1,870,246
Long-term deferred tax liability	137,276		133,500
Accrued pension benefits	252,420		289,086
Other non-current liabilities	193,199		169,360
Stockholders' equity:
Preferred stock, $0.01 par value; nonvoting; 2,000,000 shares authorized; none issued	—		—
Common stock, $0.01 par value; 63,558,226 and 63,129,775 shares issued in 2020 and 2019, respectively	146		145
Paid-in capital	415,952		387,402
Treasury stock, at cost; 7,945,527 and 6,940,089 shares in 2020 and 2019	(528,506)		(451,262)
Retained earnings	2,516,919		2,361,462
Accumulated other comprehensive loss	(373,189)		(350,933)
Total stockholders' equity	2,031,322		1,946,814
Total liabilities and stockholders' equity	$	5,020,184	$	5,002,143

See accompanying notes

THE MIDDLEBY CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In Thousands, Except Per Share Data)

(Unaudited)


	Three Months Ended				Nine Months Ended
	Sep 26, 2020		Sep 28, 2019		Sep 26, 2020		Sep 28, 2019
Net sales	$	634,525	$	724,014	$	1,783,961	$	2,171,820
Cost of sales	411,776		453,986		1,157,896		1,358,001
Gross profit	222,749		270,028		626,065		813,819
Selling, general and administrative expenses	128,814		144,460		384,580		445,000
Restructuring expenses	7,263		4,223		10,281		6,806


Income from operations	86,672		121,345		231,204		362,013
Interest expense and deferred financing amortization, net	18,418		20,846		55,881		63,334
Net periodic pension benefit (other than service costs)	(10,149)		(7,175)		(30,004)		(22,233)
Other (income) expense, net	(294)		1,444		3,414		(489)
Earnings before income taxes	78,697		106,230		201,913		321,401
Provision for income taxes	18,181		24,210		46,456		78,158
Net earnings	$	60,516	$	82,020	$	155,457	$	243,243

Net earnings per share:
Basic	$	1.10	$	1.47	$	2.82	$	4.37
Diluted	$	1.10	$	1.47	$	2.82	$	4.37
Weighted average number of shares
Basic	54,982		55,663		55,104		55,641
Dilutive common stock equivalents	118		—		48		—
Diluted	55,100		55,663		55,152		55,641
Comprehensive income	$	82,887	$	55,915	$	133,201	$	191,876

See accompanying notes

THE MIDDLEBY CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

(amounts in thousands)

(Unaudited)


	Common Stock		Paid-in Capital		Treasury Stock		Retained Earnings		Accumulated Other Comprehensive Income/(loss)		Total Stockholders' Equity
Balance, June 27, 2020	$	145	$	406,640	$	(528,111)	$	2,456,403	$	(395,560)	$	1,939,517
Net earnings	—		—		—		60,516		—		60,516
Currency translation adjustments	—		—		—		—		25,851		25,851
Change in unrecognized pension benefit costs, net of tax of $(1,283)	—		—		—		—		(6,133)		(6,133)
Unrealized gain on interest rate swap, net of tax of $960	—		—		—		—		2,653		2,653
Stock compensation	—		5,300		—		—		—		5,300
Stock issuance	1		3,705		—		—		—		3,706
Purchase of treasury stock	—		—		(395)		—		—		(395)
Equity component of issuance of convertible notes	—		307		—		—		—		307
Balance, September 26, 2020	$	146	$	415,952	$	(528,506)	$	2,516,919	$	(373,189)	$	2,031,322

Balance, December 28, 2019	$	145	$	387,402	$	(451,262)	$	2,361,462	$	(350,933)	$	1,946,814
Net earnings	—		—		—		155,457		—		155,457
Currency translation adjustments	—		—		—		—		(3,213)		(3,213)
Change in unrecognized pension benefit costs, net of tax of $1,308	—		—		—		—		6,184		6,184
Unrealized (loss) on interest rate swap, net of tax of $(9,303)	—		—		—		—		(25,227)		(25,227)
Stock compensation	—		14,422		—		—		—		14,422
Stock issuance	1		13,821		—		—		—		13,822
Purchase of treasury stock	—		—		(77,244)		—		—		(77,244)
Equity component of issuance of convertible notes	—		307		—		—		—		307
Balance, September 26, 2020	$	146	$	415,952	$	(528,506)	$	2,516,919	$	(373,189)	$	2,031,322

See accompanying notes

THE MIDDLEBY CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

(amounts in thousands)

(Unaudited)


	Common Stock		Paid-in Capital		Treasury Stock		Retained Earnings		Accumulated Other Comprehensive Income/(loss)		Total Stockholders' Equity
Balance, June 29, 2019	$	145	$	380,603	$	(451,204)	$	2,170,445	$	(301,738)	$	1,798,251
Net earnings	—		—		—		82,020		—		82,020
Currency translation adjustments	—		—		—		—		(25,428)		(25,428)
Change in unrecognized pension benefit costs, net of tax of $1,026	—		—		—		—		4,975		4,975
Unrealized (loss) on interest rate swap, net of tax of $(1,867)	—		—		—		—		(5,652)		(5,652)
Stock compensation	—		1,923		—		—		—		1,923

Purchase of treasury stock	—		—		(58)		—		—		(58)
Balance, September 28, 2019	$	145	$	382,526	$	(451,262)	$	2,252,465	$	(327,843)	$	1,856,031

Balance, December 29, 2018	$	145	$	377,419	$	(445,118)	$	2,009,233	$	(276,476)	$	1,665,203
Net earnings	—		—		—		243,243		—		243,243
Adoption of ASU 2017-12 (1)	—		—		—		(11)		11		—
Currency translation adjustments	—		—		—		—		(27,190)		(27,190)
Change in unrecognized pension benefit costs, net of tax of $955	—		—		—		—		4,966		4,966
Unrealized (loss) on interest rate swap, net of tax of $(9,890)	—		—		—		—		(29,154)		(29,154)
Stock compensation	—		3,257		—		—		—		3,257
Stock issuance	—		1,850		—		—		—		1,850
Purchase of treasury stock	—		—		(6,144)		—		—		(6,144)
Balance, September 28, 2019	$	145	$	382,526	$	(451,262)	$	2,252,465	$	(327,843)	$	1,856,031

(1) As of December 30, 2018, the company adopted ASU No. 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities" using the modified retrospective method. The adoption of this guidance resulted in the recognition of less than $0.1 million as an adjustment to the opening balance of retained earnings.

See accompanying notes

THE MIDDLEBY CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands)

(Unaudited)


	Nine Months Ended
	Sep 26, 2020		Sep 28, 2019
Cash flows from operating activities--
Net earnings	$	155,457	$	243,243
Adjustments to reconcile net earnings to net cash provided by operating activities--
Depreciation and amortization	81,594		77,272
Amortization of discount and issuance costs on convertible notes	2,130		—
Non-cash share-based compensation	14,422		3,257
Deferred income taxes	11,696		9,931
Net periodic pension benefit (other than service costs)	(30,004)		(22,233)



Changes in assets and liabilities, net of acquisitions
Accounts receivable, net	69,176		(1,116)
Inventories, net	43,188		(65,864)
Prepaid expenses and other assets	16,576		1,903
Accounts payable	(28,171)		(17,659)
Accrued expenses and other liabilities	(19,882)		1,010
Net cash provided by operating activities	316,182		229,744
Cash flows from investing activities--
Net additions to property, plant and equipment	(29,776)		(33,819)
Proceeds on sale of property, plant and equipment	9,381		—

Acquisitions, net of cash acquired	(33,144)		(238,974)
Net cash used in investing activities	(53,539)		(272,793)
Cash flows from financing activities--
Proceeds under Credit Facility	2,547,305		444,451
Repayments under Credit Facility	(3,217,507)		(375,188)
Proceeds from issuance of convertible notes, net of issuance costs	729,933		—
Premiums paid for capped call	(104,650)		—
Net proceeds under international credit facilities	2,033		319
Net repayments under other debt arrangement	(34)		(175)
Payments of deferred purchase price	(3,700)		(1,648)
Repurchase of treasury stock	(77,244)		(6,144)
Debt issuance costs on Credit Facility	(10,974)		—


Net cash (used in) provided by financing activities	(134,838)		61,615
Effect of exchange rates on cash and cash equivalents	(1,995)		(3,086)
Changes in cash and cash equivalents--
Net increase in cash and cash equivalents	125,810		15,480
Cash and cash equivalents at beginning of year	94,500		71,701
Cash and cash equivalents at end of period	$	220,310	$	87,181

Non-cash investing and financing activities:
Stock issuance related to acquisition	$	3,706	$	—

See accompanying notes

THE MIDDLEBY CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 26, 2020

(Unaudited)

1)Summary of Significant Accounting Policies

a)Basis of Presentation

The condensed consolidated financial statements have been prepared by The Middleby Corporation (the "company" or “Middleby”), pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The financial statements are unaudited and certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although the company believes that the disclosures are adequate to make the information not misleading. These financial statements should be read in conjunction with the financial statements and related notes contained in the company's 2019 Form 10-K. The company’s interim results are not necessarily indicative of future full year results for the fiscal year 2020.

In the opinion of management, the financial statements contain all adjustments, which are normal and recurring in nature, necessary to present fairly the financial position of the company as of September 26, 2020 and December 28, 2019, the results of operations for the three and nine months ended September 26, 2020 and September 28, 2019, cash flows for the nine months ended September 26, 2020 and September 28, 2019 and statement of stockholders' equity for the three and nine months ended September 26, 2020 and September 28, 2019.

Certain prior year amounts have been reclassified to be consistent with current year presentation, including classifying the non-operating components of pension benefit as an individual adjustment within the operating activities on the Consolidated Statements of Cash Flows. Previously the amounts were reported as changes in accrued expenses and other liabilities.

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.

b)Non-Cash Share-Based Compensation

The company estimates the fair value of market-based stock awards and stock options at the time of grant and recognizes compensation cost over the vesting period of the awards and options. Non-cash share-based compensation expense was $5.3 million and $2.0 million for the three months period ended September 26, 2020 and September 28, 2019, respectively. Non-cash share-based compensation expense was $14.4 million and $3.3 million for the nine months period ended September 26, 2020 and September 28, 2019, respectively.

c)Income Taxes

A tax provision of $18.2 million, at an effective rate of 23.1% was recorded during the three months period ended September 26, 2020, as compared to a $24.2 million tax provision at an effective rate of 22.8% in the prior year period. A tax provision of $46.5 million, at an effective rate of 23.0%, was recorded during the nine months period ended September 26, 2020, as compared to a $78.2 million tax provision at a 24.3% effective rate in the prior year period. The effective tax rates in 2020 and 2019 are higher than the federal tax rate of 21% primarily due to state taxes. The effective tax rate for the nine months period ended September 26, 2020 is lower than the comparable prior year rate primarily due to a reduction in non-deductible costs.

d)Fair Value Measures

Accounting Standards Codification ("ASC") 820 "Fair Value Measurements and Disclosures" defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 establishes a fair value hierarchy, which prioritizes the inputs used in measuring fair value into the following levels:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Inputs, other than quoted prices in active markets, that are observable either directly or indirectly.

Level 3 – Unobservable inputs based the company's own assumptions.

The company’s financial assets and liabilities that are measured at fair value and are categorized using the fair value hierarchy are as follows (in thousands):


	Fair Value Level 1		Fair Value Level 2		Fair Value Level 3		Total
As of September 26, 2020



Financial Liabilities:
Interest rate swaps	$	—	$	57,820	$	—	$	57,820
Contingent consideration	$	—	$	—	$	10,542	$	10,542
Foreign exchange derivative contracts	—		171		—		$	171

As of December 28, 2019
Financial Assets:
Interest rate swaps	$	—	$	1,830	$	—	$	1,830

Financial Liabilities:
Interest rate swaps	$	—	$	25,120	$	—	$	25,120
Contingent consideration	$	—	$	—	$	6,697	$	6,697
Foreign exchange derivative contracts	$	—	$	901	$	—	$	901

The contingent consideration as of September 26, 2020 and December 28, 2019, relates to the earnout provisions recorded in conjunction with various purchase agreements. The earnout provisions associated with these acquisitions are based upon performance measurements related to sales and earnings, as defined in the respective purchase agreement. On a quarterly basis, the company assesses the projected results for each acquired business in comparison to the earnout targets and adjusts the liability accordingly.

e) Consolidated Statements of Cash Flows

Cash paid for interest was $51.1 million and $61.7 million for the nine months ended September 26, 2020 and September 28, 2019, respectively. Cash payments totaling $28.0 million and $65.7 million were made for income taxes for the nine months ended September 26, 2020 and September 28, 2019, respectively.

f) Earnings Per Share

“Basic earnings per share” is calculated based upon the weighted average number of common shares actually outstanding, and “diluted earnings per share” is calculated based upon the weighted average number of common shares outstanding and other dilutive securities.

The company’s potentially dilutive securities consist of shares issuable on vesting of restricted stock grants computed using the treasury method and amounted to 118,000 and 48,000, for the three and nine months periods ended September 26, 2020, respectively. There were no potentially dilutive securities for the three and nine months periods ended September 28, 2019. For the three and nine months periods ended September 26, 2020, as the average market price of the company's common stock has not exceeded the exercise price the Convertible Notes and there have been no conversions to date, there is no impact to the diluted earnings per share. See Note 12, Financing Arrangements, in these Notes to the Condensed Consolidated Financial Statements included in this Part I, Item 1 of this Quarterly Report on Form 10-Q for further details on the Convertible Notes. There were no anti-dilutive restricted stock grants excluded from common stock equivalents in any period presented.

2) Acquisitions and Purchase Accounting

The company operates in a highly fragmented industry and has completed numerous acquisitions over the past several years as a component of its growth strategy. The company has acquired industry leading brands and technologies to position itself as a leader in the commercial foodservice equipment, food processing equipment and residential kitchen equipment industries.

The company has accounted for all business combinations using the acquisition method to record a new cost basis for the assets acquired and liabilities assumed. The difference between the purchase price and the fair value of the assets acquired and liabilities assumed has been recorded as goodwill in the financial statements. The company also recognizes identifiable intangible assets, primarily trade names and customer relationships, at their fair value using a discounted cash flow model. The significant assumptions used to estimate the value of the intangible assets include revenue growth rates, projected profit margins, discount rates, royalty rates, and customer attrition rates. These significant assumptions are forward-looking and could be affected by future economic and market conditions. The results of operations are reflected in the consolidated financial statements of the company from the dates of acquisition.

The following represents the company's significant acquisitions in 2020 and 2019 as well as summarized information on various acquisitions that were not individually material. The company also made smaller acquisitions not presented below which are individually and collectively immaterial.

Cooking Solutions Group

On April 1, 2019, the company completed its acquisition of all of the capital stock of Cooking Solutions Group, Inc. ("Cooking Solutions Group") from Standex International Corporation, which consists of the brands APW Wyott, Bakers Pride, BKI and Ultrafryer with locations in Texas, South Carolina and Mexico for a purchase price of approximately $106.1 million, net of cash acquired. During the third quarter of 2019, the company finalized the working capital provision provided for by the purchase agreement resulting in a payment due to the sellers of $0.1 million.

The final allocation of consideration paid for the Cooking Solutions Group acquisition is summarized as follows (in thousands):


	(as initially reported) April 1, 2019		Measurement Period Adjustments		(as adjusted) April 1, 2019
Cash	$	843	$	—	$	843
Current assets	33,666		(1,625)		32,041
Property, plant and equipment	15,959		(58)		15,901
Goodwill	31,207		6,330		37,537
Other intangibles	53,450		(5,850)		47,600
Other assets	—		1,470		1,470

Current liabilities	(15,130)		(1,583)		(16,713)

Long-term deferred tax liability	(13,082)		2,553		(10,529)
Other non-current liabilities	—		(1,163)		(1,163)

Price	117.49	EPS	6
Shares	56	P/E	19
MCap	6,540	P/FCF	28
Net Debt	1,872	EBIT	483
TEV	8,412	TEV/EBIT	17
TTM 2019-09-28, in MM, except price, ratios

10-Q	2020-09-26	Filed 2020-11-05
10-Q	2020-06-27	Filed 2020-08-06
10-Q	2020-03-28	Filed 2020-05-07
10-K	2019-12-28	Filed 2020-02-26
10-Q	2019-09-28	Filed 2019-11-07
10-Q	2019-06-29	Filed 2019-08-08
10-Q	2019-03-30	Filed 2019-05-09
10-K	2018-12-29	Filed 2019-02-27
10-Q	2018-09-29	Filed 2018-11-08
10-Q	2018-06-30	Filed 2018-08-09
10-Q	2018-03-31	Filed 2018-05-10
10-K	2017-12-30	Filed 2018-02-28
10-Q	2017-09-30	Filed 2017-11-09
10-Q	2017-07-01	Filed 2017-08-10
10-Q	2017-04-01	Filed 2017-05-11
10-K	2016-12-31	Filed 2017-03-01
10-Q	2016-10-01	Filed 2016-11-10
10-Q	2016-07-02	Filed 2016-08-11
10-Q	2016-04-02	Filed 2016-05-12
10-K	2016-01-02	Filed 2016-03-02
10-Q	2015-10-03	Filed 2015-11-12
10-Q	2015-07-04	Filed 2015-08-13
10-Q	2015-04-04	Filed 2015-05-14
10-K	2015-01-03	Filed 2015-03-04
10-Q	2014-09-27	Filed 2014-11-06
10-Q	2014-06-28	Filed 2014-08-07
10-Q	2014-03-29	Filed 2014-05-08
10-K	2013-12-28	Filed 2014-02-26
10-Q	2013-09-28	Filed 2013-11-07
10-Q	2013-06-29	Filed 2013-08-08
10-Q	2013-03-30	Filed 2013-05-09
10-K	2012-12-29	Filed 2013-02-27
10-Q	2012-09-29	Filed 2012-11-08
10-Q	2012-06-30	Filed 2012-08-09
10-Q	2012-03-31	Filed 2012-05-10
10-K	2011-12-31	Filed 2012-03-15
10-Q	2011-10-01	Filed 2011-11-10
10-Q	2011-07-02	Filed 2011-08-11
10-Q	2011-04-02	Filed 2011-05-12
10-K	2011-01-01	Filed 2011-03-02
10-Q	2010-10-02	Filed 2010-11-12
10-Q	2010-07-03	Filed 2010-08-12
10-Q	2010-04-03	Filed 2010-05-13
10-K	2010-01-02	Filed 2010-03-03

8-K	2020-11-05
8-K	2020-08-26
8-K	2020-08-18
8-K	2020-08-17
8-K	2020-08-05
8-K	2020-06-08
8-K	2020-05-28
8-K	2020-05-07
8-K	2020-04-10
8-K	2020-02-26
8-K	2020-01-31
8-K	2019-11-06
8-K	2019-08-07
8-K	2019-08-06
8-K	2019-05-29
8-K	2019-05-08
8-K	2019-04-11
8-K	2019-02-27
8-K	2019-02-16
8-K	2018-12-18
8-K	2018-11-07
8-K	2018-08-08
8-K	2018-07-16
8-K	2018-06-22
8-K	2018-05-19
8-K	2018-05-18
8-K	2018-05-18
8-K	2018-05-09
8-K	2018-05-08
8-K	2018-02-27
8-K	2018-02-19

EX-31.1	midd-ex311x202011520x.htm
EX-31.2	midd-ex312x202011520x.htm
EX-32.1	midd-ex321x202011520x.htm
EX-32.2	midd-ex322x202011520x.htm

MIDD 10Q Quarterly Report

Middleby Earnings 2020-09-26