XML 40 R29.htm IDEA: XBRL DOCUMENT
v3.21.2

Acquisitions and Purchase Accounting Acquisition and Purchase Accounting (Tables) | 9 Months Ended
--- | ---
Oct. 02, 2021
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):
| Nine Months Ended
| October 2, 2021 |  | September 26, 2020
Net sales | $ | 2,472,306 |  |  | $ | 1,899,883 |
Net earnings | 407,715 |  |  | 155,067 |
Net earnings per share: |  |  |
Basic | $ | 7.38 |  |  | $ | 2.81 |
Diluted | $ | 7.21 |  |  | $ | 2.81 |
2020 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 2020 acquisitions and are summarized as follows (in thousands):
| Preliminary Opening Balance Sheet |  | Preliminary Measurement Period Adjustments |  | Adjusted Opening Balance Sheet
Cash | $ | 14,647 |  |  | $ | — |  |  | $ | 14,647 |
Current assets | 43,670 |  |  | (13,391) |  |  | 30,279 |
Property, plant and equipment | 3,014 |  |  | (241) |  |  | 2,773 |
Goodwill | 55,335 |  |  | 3,740 |  |  | 59,075 |
Other intangibles | 63,201 |  |  | (4,375) |  |  | 58,826 |
Other assets | 6,121 |  |  | 52 |  |  | 6,173 |
Current liabilities | (54,478) |  |  | 13,037 |  |  | (41,441) |
Long-term deferred tax liability | (123) |  |  | 387 |  |  | 264 |
Other non-current liabilities | (21,902) |  |  | 791 |  |  | (21,111) |
Consideration paid at closing | $ | 109,485 |  |  | $ | — |  |  | $ | 109,485 |
Deferred payments | 8,666 |  |  | (468) |  |  | 8,198 |
Contingent consideration | 16,144 |  |  | (836) |  |  | 15,308 |
Net assets acquired and liabilities assumed | $ | 134,295 |  |  | $ | (1,304) |  |  | $ | 132,991 |
Novy |
Business Acquisition [Line Items] |
Schedule of Business Acquisitions, by Acquisition | The following estimated fair values of assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition date to estimate the fair values of assets acquired and liabilities assumed (in thousands):
| Preliminary Opening Balance Sheet |  |  |  |
Cash | $ | 16,152 |  |  |  |  |
Current assets | 23,762 |  |  |  |  |
Property, plant and equipment | 17,058 |  |  |  |  |
Goodwill | 142,741 |  |  |  |  |
Other intangibles | 126,557 |  |  |  |  |
Other assets | 26 |  |  |  |  |
Current liabilities | (23,440) |  |  |  |  |
Long-term deferred tax liability | (33,918) |  |  |  |  |
Other non-current liabilities | (1,930) |  |  |  |  |
Net assets acquired and liabilities assumed | $ | 267,008 |  |  |  |  |
Imperial |
Business Acquisition [Line Items] |
Schedule of Business Acquisitions, by Acquisition | The following estimated fair values of assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition date to estimate the fair values of assets acquired and liabilities assumed (in thousands):
| Preliminary Opening Balance Sheet |  |  |  |
Cash | $ | 347 |  |  |  |  |
Current assets | 8,070 |  |  |  |  |
Property, plant and equipment | 19,120 |  |  |  |  |
Goodwill | 42,570 |  |  |  |  |
Other intangibles | 65,230 |  |  |  |  |
Other assets | 6 |  |  |  |  |
Current liabilities | (7,701) |  |  |  |  |
Net assets acquired and liabilities assumed | $ | 127,642 |  |  |  |  |

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_A2020AcquisitionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

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

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