The Middleby (The Middleby) Interest Expense

: $-120 Mil (TTM As of Dec. 2023)

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Interest Expense is the amount reported by a company or individual as an expense for borrowed money. The Middleby's interest expense for the three months ended in Dec. 2023 was $ -28 Mil. Its interest expense for the trailing twelve months (TTM) ended in Dec. 2023 was $-120 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. The Middleby's Operating Income for the three months ended in Dec. 2023 was $ 197 Mil. The Middleby's Interest Expense for the three months ended in Dec. 2023 was $ -28 Mil. The Middleby's Interest Coverage for the quarter that ended in Dec. 2023 was 6.98. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

The Middleby Interest Expense Historical Data

The historical data trend for The Middleby's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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The Middleby Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Expense

-82.61

-78.62

-57.16

-88.98

-120.35

The Middleby Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Interest Expense																-26.41	-29.46	-31.53	-31.08	-28.28

The Middleby Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-120 Mil.

The Middleby (NAS:MIDD) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

The Middleby's Interest Expense for the three months ended in Dec. 2023 was $-28 Mil. Its Operating Income for the three months ended in Dec. 2023 was $197 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Dec. 2023 was $2,380 Mil.

The Middleby's Interest Coverage for the quarter that ended in Dec. 2023 is calculated as

Interest Coverage	=	-1	*	Operating Income (Q: Dec. 2023 )	/	Interest Expense (Q: Dec. 2023 )
	=	-1	*	197.326	/	-28.277
	=	6.98

The higher the ratio, the stronger the company's financial strength is.

The Middleby (The Middleby) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » The Middleby Corp (NAS:MIDD) » Definitions » Interest Expense

Comparable Companies

Traded in Other Exchanges

MBY:Germany

Address

1400 Toastmaster Drive, Elgin, IL, USA, 60120

Website

https://www.middleby.com

The Middleby Corp is engaged in designing, manufacturing, marketing, distribution and service of a broad line of foodservice equipment used in all types of commercial restaurants and institutional kitchens, food preparation, cooking, baking, chilling and packaging equipment for food processing operations, and premium kitchen equipment including ranges, ovens, refrigerators, ventilation, dishwashers and outdoor cooking equipment primarily used in the residential market. The company conducts its business through three principal business segments namely the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group. The firm derives majority revenue from Commercial Foodservice Equipment Group segment.

Executives

Chapin Sarah Palisi	director	1400 TOASTMASTER DRIVE, ELGIN IL 60120
Pool Iii James K	officer: Chief Technology and*	1400 TOASTMASTER DRIVE, ELGIN IL 60120
Robert A Nerbonne	director	1400 TOASTMASTER DRIVE, ELGIN IL 60120
Miller John R Iii	director	C/O THE MIDDLEBY CORPORATION, 1400 TOASTMASTER DRIVE, ELGIN IL 60120
Matthew R Fuchsen	officer: Chief Development Officer	1400 TOASTMASTER DRIVE, ELGIN IL 60120
Brittany C Cerwin	officer: Chief Accounting Officer	1400 TOASTMASTER DRIVE, ELGIN IL 60120
Cathy L Mccarthy	director	1400 TOASTMASTER DRIVE, ELGIN IL 60120
Nassem Ziyad	director	C/O MIDDLEBY CORPORATION, 1400 TOASTMASTER DRIVE, ELGIN IL 60120
Timothy John Fitzgerald	officer: Chief Financial Officer	C/O MIDDLEBY CORPORATON, 1400 TOASTMASTER DRIVE, ELGIN IL 60120
Steve Spittle	officer: Chief Commercial Officer	1400 TOASTMASTER DRIVE, ELGIN IL 60120
Bryan E. Mittelman	officer: Chief Accounting Officer	THE MIDDLEBY CORPORATION, 1400 TOASTMASTER DRIVE, ELGIN IL 60120
Martin M Lindsay	officer: Treasurer	C/O THE MIDDLEBY CORPORATION, 1400 TOASTMASTER DR, ELGIN IL 60120
Gordon Obrien	director	1400 TOASTMASTER DRIVE, ELGIN IL 60120
Robert B Lamb	director	C/O THE MIDDLEBY CORPORATION, 1400 TOASTMASTER DR, ELGIN IL 60120
Selim A Bassoul	director, officer: Chief Executive Officer	C/O MIDDLEBY CORP, 1400 TOASTMASTER DRIVE, ELGIN IL 8477413300