1 unchanged sentence
Principal Market
−Removed: The company's Common Stock trades on the Nasdaq Global Market under the symbol "MIDD".
−Removed: The company estimates there were approximately 60,247 record holders of the company's common stock as of February 24, 2020 .
+Added: The company's Common Stock trades on the Nasdaq Global Select Market under the symbol "MIDD".
+Added: The company estimates there were approximately 43,609 record holders of the company's common stock as of March 1, 2021.
The company does not currently pay cash dividends on its common stock.
6 unchanged sentences
Stockholder Matters.”
+Added: Unregistered Sales of Equity Securities in connection with Strategic Transactions
+Added: On June 29, 2020, in connection with the company’s minority investment in Bluezone Products, Inc.
+Added: (“Bluezone”), the company issued 46,365 unregistered shares of the company’s common stock to a certain stockholder of Bluezone (“Bluezone Stockholder”) in exchange for 36,764 shares of series A preferred stock of Bluezone.
+Added: The shares of company common stock were issued in reliance on the exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended ("Securities Act").
+Added: The company relied on such exemption based in part upon representations made by the Bluezone Stockholder, including its status as an accredited investor, as such term is defined in Rule 501 of the Securities Act.
+Added: On December 23, 2020, in connection with the company’s purchase of assets from Appliance Innovation, Inc.
+Added: ("Appliance"), the company issued 93,392 unregistered shares of the company’s common stock to Appliance.
+Added: The shares of company common stock were issued in reliance on the exemption from registration under Section 4(a)(2) of the Securities Act.
+Added: The company relied on such exemption based in part upon representations made by Appliance, including its status as an accredited investor, as such term is defined in Rule 501 of the Securities Act.
Issuer Purchases of Equity Securities
−Removed: Total Number of Shares Purchased
−Removed: Average Price Paid per Share
−Removed: Total Number of Shares Purchased as Part of Publicly Announced Plan or Program
−Removed: Maximum Number of Shares that May Yet be Purchased Under the Plan or Program (1)
+Added: Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plan or Program Maximum Number of Shares that May Yet be Purchased Under the Plan or Program (1)
September 27, 2020 to October 24, 2020 — $ — — 1,476,835
October 25, 2020 to November 21, 2020 — — — 1,476,835
−Removed: November 24 to December 28, 2019
−Removed: Quarter ended December 28, 2019
+Added: November 22, 2020 to January 2, 2021 — — — 1,476,835
+Added: Quarter ended January 2, 2021 — $ — — 1,476,835
(1) In November 2017, the company's Board of Directors approved a stock repurchase program.
This program authorizes the company to repurchase in the aggregate up to 2,500,000 shares of its outstanding common stock in open market purchases or negotiated transactions.
−Removed: As of December 28, 2019 , 126,200 shares had been purchased under the 2017 stock repurchase program.
−Removed: At December 28, 2019 , the company had a total of 6,940,089 shares in treasury amounting to $ 451.3 million .
+Added: As of January 2, 2021, 1,023,165 shares had been purchased under the 2017 stock repurchase program.
+Added: At January 2, 2021, the company had a total of 8,013,296 shares in treasury amounting to $537.1 million.
In the consolidated financial statements, the company also treats shares withheld for tax purposes on behalf of employees in connection with the vesting of restricted share grants as common stock repurchases because they reduce the number of shares that would have been issued upon vesting.
3 unchanged sentences
Fiscal Year Ended (1, 2)
+Added: 2020 2019 2018 2017 2016
Income Statement Data:
+Added: Net sales $ 2,513,257 $ 2,959,446 $ 2,722,931 $ 2,335,542 $ 2,267,852
Cost of sales 1,631,209 1,855,949 1,718,791 1,422,801 1,366,672
+Added: Gross profit 882,048 1,103,497 1,004,140 912,741 901,180
Selling, general, and administrative expenses 531,897 593,813 538,842 468,219 471,638
2 unchanged sentences
Gain on sale of plant (1,982) — — (12,042) —
−Removed: Impairment of intangible asset
+Added: Impairments 15,327 — — 58,000 —
Income from operations 324,431 514,043 445,966 378,613 419,018
Interest expense and deferred financing amortization, net 78,617 82,609 58,742 25,983 23,880
−Removed: Net periodic pension benefit (other than service costs)
−Removed: Other (income) expense, net
+Added: Net periodic pension benefit (other than service costs & curtailment) (39,996) (29,722) (39,020) (35,033) (30,409)
+Added: Curtailment loss 14,682 865 906 3,305 3,202
+Added: Other expense (income), net 3,071 (2,328) 1,825 829 1,040
Earnings before income taxes 268,057 462,619 423,513 383,529 421,305
Provision for income taxes 60,763 110,379 106,361 85,401 137,089
+Added: Net earnings $ 207,294 $ 352,240 $ 317,152 $ 298,128 $ 284,216
Net earnings per share:
+Added: Basic $ 3.76 $ 6.33 $ 5.71 $ 5.26 $ 4.98
+Added: Diluted $ 3.76 $ 6.33 $ 5.70 $ 5.26 $ 4.98
Weighted average number of shares outstanding:
+Added: Basic 55,093 55,647 55,576 56,715 57,030
+Added: Diluted 55,136 55,656 55,604 56,719 57,085
Balance Sheet Data:
Working capital $ 570,235 $ 616,059 $ 502,642 $ 458,236 $ 323,290
+Added: Total assets 5,202,474 5,002,143 4,549,781 3,339,713 2,917,136
+Added: Total debt 1,729,596 1,873,140 1,892,105 1,028,881 732,126
Stockholders' equity 1,976,649 1,946,814 1,665,203 1,361,148 1,265,318
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.