The middleby corporation (MIDD)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Jan'16Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Cash flows from operating activities--
Net earnings

73,779

108,997

82,020

92,210

69,013

94,839

72,905

83,988

65,420

75,186

74,671

77,569

70,702

80,936

75,851

72,891

54,538

50,287

48,825

54,267

38,231

51,749

59,713

48,405

33,445

49,921

40,942

37,163

25,902

37,788

29,769

31,045

22,095

34,559

23,461

19,628

17,825

20,994

20,602

17,509

13,762

Adjustments to reconcile net earnings to net cash provided by operating activities--
Depreciation and amortization expense

26,599

26,156

27,137

24,621

25,514

30,783

27,833

18,598

20,024

20,498

16,961

18,258

14,057

13,825

13,169

16,310

14,930

20,091

11,823

10,928

11,232

9,318

10,620

10,793

10,521

8,147

9,200

11,794

14,023

6,213

7,101

6,542

7,047

5,041

5,334

5,286

4,047

5,358

3,849

3,891

3,916

Non-cash share-based compensation

4,200

4,800

2,000

200

1,100

-2,800

3,500

1,700

100

-278

-27

2,955

3,550

10,559

6,186

6,201

4,959

4,178

4,287

5,370

2,029

5,055

4,939

4,758

1,938

2,967

2,965

2,965

2,965

2,975

3,132

3,130

2,747

5,357

5,427

5,393

1,956

3,624

3,686

4,138

3,234

Deferred income taxes

8,672

12,281

-126

9,073

984

7,177

7,739

3,005

2,568

-35,861

3,790

2,294

15,285

2,038

10,732

-498

9,091

3,455

108

-4,619

2,975

1,694

-29

876

12,800

-5,482

685

707

1,115

-951

-1,534

92

2,310

6,321

-300

-300

-300

3,118

63

-1,678

-83

Net Periodic Benefit Cost, Other Components

-10,089

-

-

-

-7,761

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess Tax Benefit from Share-based Compensation, Operating Activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized loss/(gain) on derivative financial instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7

39

-5

-

-5

-12

-1

15

-22

-37

40

11

7

-18

7

Changes in assets and liabilities, net of acquisitions
Accounts receivable, net

-33,408

26,632

2,050

10,809

-11,743

-13,589

10,703

29,274

-1,041

-12,346

3,423

2,160

-19,417

-2,076

19,239

-2,831

19,576

-12,610

-5,773

-3,938

5,209

-209

489

4,511

15,786

4,239

1,468

3,214

8,603

16,449

-2,078

4,918

-15,409

7,249

4,637

7,628

-524

8,962

1,782

11,974

5,588

Inventories, net

28,094

-37,576

710

10,622

54,532

2,774

25,996

-9,521

9,129

-10,223

-5,640

1,519

24,088

-12,983

11,871

10,556

12,802

-33,422

-1,106

11,679

15,023

-8,394

-123

4,943

5,638

1,061

8,162

-2,633

13,229

4,684

8,678

-3,746

9,410

-6,700

1,359

-2,681

10,309

748

5,077

1,038

-552

Prepaid expenses and other assets

-9,566

-698

-11,504

15,252

-8,117

-7,745

-14,229

23,155

-19,326

30,763

-14,083

10,042

7,400

3,196

-221

9,735

-1,160

9,485

11,147

-12,759

-2,188

7,044

-14,800

-13,733

21,873

-6,033

-7,791

16,118

5,474

-1,952

1,097

55

7,998

-191

-1,103

844

-2,005

1,016

-2,799

7,231

-6,435

Accounts payable

15,001

-11,737

-13,098

-9,134

4,573

-11,014

11,007

17,022

-3,404

-3,992

-6,807

-8,631

-2,201

5,203

-12,969

1,276

-1,240

-24,570

1,298

-3,097

8,333

-7,721

-3,969

6,233

-2,415

-3,829

1,581

-6,059

-941

-5,479

5,147

6,244

-3,228

6,744

-3,687

1,232

-6,870

1,633

2,558

5,980

741

Accrued expenses and other liabilities

-45,864

41,569

15,439

-31,602

-24,772

16,949

-1,014

20,509

-51,243

25,675

14,003

-30,455

-42,442

-5,411

17,335

2,457

-36,555

-7,972

-3,257

17,137

-21,000

7,846

17,001

-113

-26,550

10,089

6,026

-19,345

-2,232

13,005

3,775

-2,295

-18,220

7,063

10,595

13,778

-18,379

7,809

7,395

15,649

-16,156

Net cash provided by operating activities

87,137

147,681

128,154

67,642

33,948

116,867

105,412

101,887

44,748

99,563

118,856

39,156

46,880

119,013

79,415

81,177

14,505

82,016

58,816

85,004

23,756

69,500

102,709

75,231

-13,558

62,573

59,567

10,487

13,531

34,352

39,698

43,543

10,753

64,712

35,959

39,263

-9,541

31,799

34,086

25,264

6,806

Cash flows from investing activities--
Additions to property and equipment

9,181

12,790

12,189

13,535

8,095

3,488

8,344

7,551

16,657

12,059

10,726

23,432

8,276

6,018

5,691

5,415

7,693

4,370

6,308

5,567

6,117

3,036

3,121

3,755

3,231

3,584

2,960

4,173

3,923

1,689

2,866

1,513

1,584

2,960

1,729

1,448

1,703

151

603

1,004

1,401

Payments to Acquire Intangible Assets

-

-

-

-

-

0

0

0

5,399

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

5,000

-

-

-

-

-

-

-

-

-

-

-

-

Acquisitions, net of cash acquired

30,041

42,084

71,885

154,692

12,397

50,246

3,197

1,115,082

29,459

145,793

40,196

116,566

2,696

0

-1,103

212,024

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) investing activities

-39,222

-54,874

-84,074

-168,227

-20,492

-53,734

-11,541

-1,122,633

-51,515

-157,852

-50,922

-125,720

-10,972

-6,018

-4,588

-217,439

-7,693

-91,072

-192,039

-35,261

-52,615

-146,266

-19,081

-18,755

-48,956

-88,973

8,266

-11,724

-381,759

-25,305

-30,866

-2,251

-11,473

-52,770

-34,211

-97,201

-4,728

-121

-23,730

-2,004

-3,022

Cash flows from financing activities--
Proceeds under Credit Facility

2,303,953

98,843

131,344

209,150

103,957

90,885

53,251

1,232,630

234,344

269,399

224,849

267,768

-3,133

332,406

-28,138

156,500

-28,000

16,500

153,500

-66,000

41,500

82,300

-77,800

-64,000

78,400

33,600

-80,800

-19,200

378,500

-8,000

264,500

0

0

0

-93,400

68,950

24,450

30,050

-4,900

-20,350

-4,800

Repayments under Credit Facility

1,977,453

185,175

165,704

107,377

102,107

157,370

157,830

215,219

215,862

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (repayments) proceeds under previous revolving credit facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

267,100

40,100

2,200

-

-

-

-

-

-

-

-

Net proceeds (repayments) under international credit facilities

786

-724

65

326

-72

-91

-3,989

-2,894

-114

0

68

25

-1,155

-867

-52,119

-148

26,313

-4,673

-2,910

1,093

432

1,334

814

1,204

5,463

576

99

-1,260

-47

-1,662

-2,468

-1,837

1,196

-630

165

704

623

-913

-1,262

-760

514

Net repayments under other debt arrangement

-11

-4

0

0

-175

0

0

0

-3

-9

-9

-9

-8

-9

-9

-8

-9

-236

-8

-9

-9

-9

-8

-9

-9

-9

-8

-10

-5

350

0

0

0

-

-

-

-

-

-

-

-

Payments of deferred purchase price

0

0

-1,202

0

-446

-542

-692

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of treasury stock

74,600

0

58

818

5,268

0

0

0

0

14,842

200,351

0

24,645

0

0

0

4,418

0

0

0

4,836

0

0

0

44,283

805

1,855

640

1,091

4,685

1,513

3,426

11,046

2,632

3,578

0

9,453

-

-

-

-

Payments of Debt Issuance Costs

7,577

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

11

387

5,475

0

0

-

-

-

-

-

-

-

-

Excess tax benefit related to share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-474

3

1

-834

18

-4

-2

2,402

543

-39

-58

25,044

121

8,079

10,026

1,089

3,599

1,564

10,945

0

-

-

-

-

-

-

-

-

Net proceeds from stock issuances

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

243

613

2,973

13

765

740

755

544

0

0

144

80

101

0

295

270

Net cash (used in) provided by financing activities

245,098

-87,060

-35,555

101,281

-4,111

-67,493

-109,260

1,014,517

18,365

64,621

-53,541

73,697

-28,941

-104,250

-86,517

156,345

-6,948

11,609

150,578

-64,918

39,489

84,168

-77,033

-62,863

64,615

33,726

-73,861

-8,111

378,448

-10,020

-9,752

-33,663

-11,506

15,277

-8,813

69,425

15,700

-30,101

-11,907

-23,850

-4,016

Effect of exchange rates on cash and cash equivalents

-6,470

1,572

-3,031

-219

164

-527

-307

-4,777

2,038

1,596

2,460

1,164

1,124

-2,040

-561

-1,733

289

-2,087

-879

-498

-316

-1,609

-701

-405

55

213

977

-15

-817

234

798

-1,115

723

-419

-908

644

171

93

165

-333

164

Changes in cash and cash equivalents--
Net (decrease) increase in cash and cash equivalents

286,543

7,319

5,494

477

9,509

-4,887

-15,696

-11,006

13,636

7,928

16,853

-11,703

8,091

6,705

-12,251

18,350

153

466

16,476

-15,673

10,314

5,793

5,894

-6,792

2,156

7,539

-5,051

-9,363

9,403

-739

-122

6,514

-11,503

26,800

-7,973

12,131

1,602

1,670

-1,386

-923

-68

Interest paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,142

1,735

2,475

Income tax payments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,594

15,533

2,156