← MIDDLEBY Corp
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $298.1m | $317.2m | $352.2m | $207.3m | $207.3m | $436.6m | $400.9m | $428.4m | ($277.7m) | ($277.7m) | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | — | — | — | — | — | — | $413.0m | $421.0m | $367.3m | $367.3m | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | — | — | — | — | — | — | ($12.1m) | $7.5m | ($645.0m) | ($645.0m) | |
| Depreciation, Depletion and Amortization | $69.8m | $97.2m | $103.4m | $110.5m | $110.5m | $138.1m | $132.6m | $127.2m | $105.3m | $105.3m | |
| Amortization of Debt Issuance Costs and Discounts | — | — | — | $8.0m | — | $0 | — | — | — | — | |
| Amortization of Intangible Assets | $38.6m | $60.0m | $64.0m | $69.0m | — | $86.3m | $75.0m | $64.4m | $55.3m | — | |
| Depreciation | $29.7m | $35.8m | $37.9m | $39.1m | $110.5m | $44.6m | $50.4m | $55.6m | $43.7m | $105.3m | |
| Deferred Income Tax Expense (Benefit) | ($14.5m) | $20.5m | $22.2m | $16.4m | — | ($6.6m) | ($2.4m) | $35.9m | $70.1m | — | |
| Deferred income taxes | ($14.5m) | $20.5m | $22.2m | — | $16.4m | $6.9m | ($2.4m) | $35.9m | — | $70.1m | |
| Share-based Payment Arrangement, Noncash Expense | $6.2m | $2.5m | $8.1m | $19.6m | — | $58.4m | $51.0m | $36.2m | $13.5m | — | |
| Equity Method Investment, Other than Temporary Impairment | — | — | — | — | — | — | — | $5.2m | — | — | |
| Gain (Loss) on Sale of Assets and Asset Impairment Charges | ($3.1m) | ($783k) | $0 | ($15.3m) | — | $0 | — | — | — | — | |
| Goodwill and Intangible Asset Impairment | — | — | — | — | — | — | $78.1m | — | — | — | |
| Goodwill, Impairment Loss | — | $0 | $0 | $0 | — | — | — | — | — | — | |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $58.0m | $0 | $0 | $11.6m | — | — | — | — | — | — | |
| Non-cash share-based compensation | $6.2m | $2.5m | $8.1m | — | $19.6m | $42.3m | $51.0m | $36.2m | — | $13.5m | |
| Impairments | — | — | — | — | $15.3m | $0 | $78.1m | $38.6m | — | $10.6m | |
| Gain (Loss) on Disposition of Assets | $12.0m | $0 | $0 | $2.0m | — | $0 | $0 | $1.1m | $0 | — | |
| Income Tax Expense (Benefit) | $85.4m | $106.4m | $110.4m | $60.8m | — | $127.8m | $118.5m | $148.9m | $115.0m | — | |
| Other Nonoperating Income (Expense) | ($829k) | ($1.8m) | $2.3m | ($3.1m) | — | ($28.9m) | ($4.2m) | ($1.5m) | ($5.1m) | — | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | ($26.2m) | $25.3m | $27.7m | ($90.4m) | — | $28.4m | $4.6m | ($12.0m) | $14.5m | — | |
| Increase (Decrease) in Inventories | $9.7m | $28.4m | $28.3m | ($66.7m) | — | $196.3m | ($157.9m) | ($95.4m) | ($3.1m) | — | |
| Increase (Decrease) in Accounts Payable | ($21.6m) | $13.6m | ($29.4m) | ($3.0m) | — | ($47.7m) | ($49.4m) | ($21.9m) | $18.1m | — | |
| Foreign Currency Transaction Gain (Loss), before Tax | ($2.4m) | ($2.6m) | ($900k) | ($2.9m) | — | $28.1m | $8.7m | $1.3m | $6.3m | — | |
| Gain (Loss) Related to Litigation Settlement | — | — | $14.8m | $0 | — | — | — | — | — | — | |
| General and Administrative Expense | — | — | — | — | — | — | — | — | — | — | |
| Goodwill | $1.3b | $1.7b | $1.8b | $1.9b | — | $2.4b | $2.5b | $2.5b | $1.8b | — | |
| Net Periodic Benefit Cost, Other Components | ($31.7m) | ($38.1m) | ($28.9m) | — | ($25.3m) | ($45.1m) | ($9.1m) | ($14.9m) | — | ($6.3m) | |
| Gain on sale of plant | ($12.0m) | $0 | $0 | — | ($2.0m) | ($763k) | $0 | ($1.1m) | — | $0 | |
| Other Noncash Income (Expense) | — | — | — | — | $0 | ($12.1m) | $1.5m | $645k | — | ($125k) | |
| Accounts receivable, net | $26.2m | ($25.3m) | ($27.7m) | — | $90.4m | ($99.9m) | ($4.6m) | $12.0m | — | ($14.5m) | |
| Inventories, net | ($9.7m) | ($28.4m) | ($28.3m) | — | $66.7m | ($204.2m) | $157.9m | $95.4m | — | $3.1m | |
| Prepaid expenses and other assets | ($34.1m) | $18.1m | $5.1m | — | $782k | $10.9m | ($17.1m) | ($45.5m) | — | ($5.6m) | |
| Accounts payable | ($21.6m) | $13.6m | ($29.4m) | — | ($3.0m) | $61.3m | ($49.4m) | ($21.9m) | — | $18.1m | |
| Accrued expenses and other liabilities | ($64.9m) | ($52.9m) | $634k | — | $20.1m | $36.2m | ($110.7m) | ($4.1m) | — | $3.2m | |
| Proceeds from Sale of Property Held-for-sale | $14.3m | $0 | $0 | — | $14.1m | $6.3m | $0 | $2.5m | — | $0 | |
| Payments to Acquire Intangible Assets | $0 | $5.4m | $0 | — | ($7.1m) | ($5.0m) | ($1.8m) | ($80k) | — | ($1.1m) | |
| Cash Provided by (Used in) Investing Activity, Continuing Operation | — | — | — | — | — | — | ($98.8m) | ($145.7m) | — | ($103.8m) | |
| Cash Provided by (Used in) Investing Activity, Discontinued Operation | — | — | — | — | — | — | ($57.0m) | ($12.8m) | — | ($23.1m) | |
| Proceeds from Credit Facility | — | $1.6b | $543.3m | — | $2.6b | $1.7b | $640.2m | $0 | — | $1.1b | |
| Repayments under Credit Facility | ($462.1m) | ($746.3m) | ($560.4m) | — | ($3.3b) | ($1.1b) | ($948.5m) | ($32.8m) | — | ($607.3m) | |
| Payment of principal upon maturity of Convertible Notes | — | — | — | — | — | — | $0 | $0 | — | ($744.5m) | |
| Proceeds from foreign loans | — | — | — | — | — | — | $0 | $0 | — | $23.2m | |
| Repayments of foreign loans | — | — | — | — | — | — | ($166k) | ($2.2m) | — | ($2.1m) | |
| Payments of deferred purchase price | — | — | — | — | ($3.7m) | ($7.9m) | ($7.7m) | ($3.9m) | — | ($20.1m) | |
| Repurchase of treasury stock | ($239.8m) | $0 | ($6.1m) | — | ($85.9m) | ($29.3m) | ($74.6m) | ($34.7m) | — | ($723.6m) | |
| Stock Issued During Period, Value, Acquisitions | $13.4m | $0 | $0 | — | $15.9m | $2.5m | $19.8m | $4.8m | — | $0 | |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | — | — | — | ($14.7m) | — | $0 | — | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $304.5m | $368.9m | $377.4m | $524.8m | $524.8m | $332.6m | $628.8m | $686.8m | $630.2m | $630.2m | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $54.5m | $36.0m | $46.6m | $34.8m | ($34.8m) | $67.3m | $85.2m | $49.3m | $70.7m | ($70.7m) | |
| Payments to Acquire Businesses, Net of Cash Acquired | $305.3m | $1.2b | $281.1m | $79.0m | ($79.0m) | $278.8m | $68.8m | $111.7m | $32.0m | ($32.0m) | |
| Net Cash Provided by (Used in) Investing Activities | ($345.5m) | ($1.2b) | ($327.7m) | ($106.8m) | ($106.8m) | ($348.3m) | ($155.7m) | ($158.5m) | ($126.9m) | ($126.9m) | |
| Cash flows from financing activities: | |||||||||||
| Debt issuance costs on Credit Facility | $0 | ($375k) | $0 | — | ($11.0m) | ($9.2m) | $0 | $0 | — | ($3.2m) | |
| Proceeds from Issuance of Common Stock | — | — | — | — | — | — | — | — | — | — | |
| Payments for Repurchase of Common Stock | $239.8m | $0 | $6.1m | $85.9m | — | $264.8m | $74.6m | $34.7m | $723.6m | — | |
| Proceeds from (Payments for) Other Financing Activities | $0 | ($1.2m) | ($1.6m) | ($3.7m) | — | ($287k) | ($211k) | ($224k) | $187k | — | |
| Proceeds from (Payment for) Other Financing Activity | $0 | ($1.2m) | ($1.6m) | — | ($3.7m) | ($5.9m) | ($211k) | ($224k) | — | $187k | |
| Net cash (used in) provided by financing activities | $55.8m | $856.1m | ($25.4m) | — | ($252.5m) | $502.8m | ($390.9m) | ($73.8m) | — | ($970.9m) | |
| Net Cash Provided by (Used in) Financing Activities | $55.8m | $856.1m | ($25.4m) | ($252.5m) | — | $7.6m | ($390.9m) | ($73.8m) | ($970.9m) | — | |
| Effect of Exchange Rate on Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Discontinued Operation | — | — | — | — | $8.0m | ($10.2m) | $3.4m | ($12.5m) | — | $22.5m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | $173.6m | — | ($18.4m) | $85.5m | $442.0m | ($445.1m) | — | |
| Net (decrease) increase in cash and cash equivalents | $21.2m | ($18.0m) | $22.8m | — | $173.6m | ($87.7m) | $85.5m | $442.0m | — | ($445.1m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | — | $162.0m | $247.5m | $689.5m | — | — | |
| Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Including Discontinued Operation | — | — | — | — | — | — | $247.5m | $689.5m | — | $244.4m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | — | $65.6m | — | $77.2m | $119.2m | $97.7m | $104.2m | — | |
| Income Taxes Paid, Net | — | — | — | — | — | — | — | — | $79.1m | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.