XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.20.2

Acquisitions and Purchase Accounting Acquisition and Purchase Accounting (Tables) | 6 Months Ended
--- | ---
Jun. 27, 2020
Business Acquisition [Line Items] |
Business Acquisition, Pro Forma Information | The following pro forma results include adjustments to reflect amortization of intangibles associated with the acquisition and the effects of adjustments made to the carrying value of certain assets (in thousands, except per share data):
| Six Months Ended |  |
| June 27, 2020 |  | June 29, 2019
Net sales | $ | 1,151,957 |  |  | $ | 1,520,365 |
Net earnings | 96,987 |  |  | 147,786 |
Net earnings per share: |  |  |
Basic | $ | 1.76 |  |  | $ | 2.66 |
Diluted | $ | 1.76 |  |  | $ | 2.66 |
Cooking Solutions Group |
Business Acquisition [Line Items] |
Schedule of Business Acquisitions, by Acquisition | 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) |
Net assets acquired and liabilities assumed | $ | 106,913 |  |  | $ | 74 |  |  | $ | 106,987 |
2019 Acquisitions |
Business Acquisition [Line Items] |
Schedule of Business Acquisitions, by Acquisition | The estimated fair values of assets acquired and liabilities assumed are based on the information that was available as of the acquisition dates for the other 2019 acquisitions and are summarized as follows (in thousands):
| Preliminary Opening Balance Sheet |  | Preliminary Measurement Period Adjustments |  | Adjusted Opening Balance Sheet
Cash | $ | 2,683 |  |  | $ | (10) |  |  | $ | 2,673 |
Current assets | 21,525 |  |  | 1,016 |  |  | 22,541 |
Property, plant and equipment | 8,920 |  |  | (166) |  |  | 8,754 |
Goodwill | 99,838 |  |  | (9,550) |  |  | 90,288 |
Other intangibles | 64,019 |  |  | 9,200 |  |  | 73,219 |
Long-term deferred tax asset | 1,288 |  |  | 1,428 |  |  | 2,716 |
Other assets | 137 |  |  | 854 |  |  | 991 |
Current liabilities | (20,437) |  |  | (348) |  |  | (20,785) |
Other non-current liabilities | (6,170) |  |  | (3,229) |  |  | (9,399) |
Consideration paid at closing | $ | 171,803 |  |  | $ | (805) |  |  | $ | 170,998 |
Deferred payments | 2,404 |  |  | — |  |  | 2,404 |
Contingent consideration | 4,258 |  |  | 2,700 |  |  | 6,958 |
Net assets acquired and liabilities assumed | $ | 178,465 |  |  | $ | 1,895 |  |  | $ | 180,360 |
2020 Acquisitions |
Business Acquisition [Line Items] |
Schedule of Business Acquisitions, by Acquisition | The following estimated fair values of assets acquired and liabilities assumed are based on the information that was available as of the acquisition dates for the acquisitions and are summarized as follows (in thousands):
| Preliminary Opening Balance Sheet |  | Measurement Period Adjustments |  | Adjusted Opening Balance Sheet
Cash | $ | 2,347 |  |  | $ | — |  |  | $ | 2,347 |
Current assets | 31,089 |  |  | (12,719) |  |  | 18,370 |
Property, plant and equipment | 1,032 |  |  | (241) |  |  | 791 |
Goodwill | 12,776 |  |  | 333 |  |  | 13,109 |
Other intangibles | 16,484 |  |  | — |  |  | 16,484 |
Other assets | 1,708 |  |  | — |  |  | 1,708 |
Current liabilities | (30,005) |  |  | 12,627 |  |  | (17,378) |
Other non-current liabilities | (3,070) |  |  | — |  |  | (3,070) |
Consideration paid at closing | $ | 32,361 |  |  | $ | — |  |  | $ | 32,361 |
Deferred payments | 1,250 |  |  | — |  |  | 1,250 |
Contingent consideration | 1,774 |  |  | — |  |  | 1,774 |
Net assets acquired and liabilities assumed | $ | 35,385 |  |  | $ | — |  |  | $ | 35,385 |

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_BusinessAcquisitionLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_BusinessAcquisitionAxis=midd_StandexMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_BusinessAcquisitionAxis=midd_A2019AcquisitionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_BusinessAcquisitionAxis=midd_A2020AcquisitionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |