The Middleby Corporation (MIDD) 10-Q 5 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 26, 2020	Oct. 30, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 26, 2020
Document Transition Report	false
Entity File Number	1-9973
Entity Registrant Name	THE MIDDLEBY CORPORATION
Entity Central Index Key	0000769520
Current Fiscal Year End Date	--01-02
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3352497
Entity Address, Address Line One	1400 Toastmaster Drive,
Entity Address, City or Town	Elgin,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60120
City Area Code	(847)
Local Phone Number	741-3300
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Title of 12(b) Security	Common Stock
Trading Symbol	MIDD
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		55,612,255
Entity Small Business	false
Entity Emerging Growth Company	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019
Current assets:
Cash and cash equivalents	$ 220,310	$ 94,500
Accounts receivable, net of reserve for doubtful accounts of $20,237 and $14,886	381,273	447,612
Accounts receivable, reserve for doubtful accounts	20,237	14,886
Inventories, net	557,512	585,699
Prepaid expenses and other	67,261	61,224
Prepaid Taxes	14,826	20,161
Total current assets	1,241,182	1,209,196
Property, plant and equipment, net of accumulated depreciation of $223,844 and $197,629	343,860	352,145
Property, plant and equipment, accumulated depreciation	223,844	197,629
Goodwill	1,855,361	1,849,747
Other intangibles	1,420,600	1,443,381
Finite-Lived Intangible Assets, Accumulated Amortization	385,737	333,507
Long-term deferred tax assets	35,115	36,932
Other assets	124,066	110,742
Total assets	5,020,184	5,002,143
Current liabilities:
Current maturities of long-term debt	23,152	2,894
Accounts payable	152,262	173,693
Accrued expenses	421,580	416,550
Total current liabilities	596,994	593,137
Long-term debt	1,808,973	1,870,246
Deferred Income Tax Liabilities, Net	137,276	133,500
Liability, Defined Benefit Pension Plan, Noncurrent	252,420	289,086
Other non-current liabilities	193,199	169,360
Stockholders' equity:
Preferred stock, $0.01 par value; nonvoting; 2,000,000 shares authorized; none issued	$ 0	0
Preferred stock, par value (in usd per share)	$ 0.01
Preferred stock, shares authorized	2,000,000,000
Preferred stock, shares issued	0
Common stock, $0.01 par value; 63,558,226 and 63,129,775 shares issued in 2020 and 2019, respectively	$ 146	$ 145
Common Stock, Par or Stated Value Per Share	$ 0.01
Common stock, shares issued	63,558,226	63,129,775
Paid-in capital	$ 415,952	$ 387,402
Treasury stock, at cost; 7,945,527 and 6,940,089 shares in 2020 and 2019	$ (528,506)	$ (451,262)
Treasury stock, shares	7,945,527	6,940,089
Retained earnings	$ 2,516,919	$ 2,361,462
Accumulated other comprehensive loss	(373,189)	(350,933)
Total stockholders' equity	2,031,322	1,946,814
Total liabilities and stockholders' equity	$ 5,020,184	$ 5,002,143

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Revenue from Contract with Customer, Excluding Assessed Tax		$ 634,525	$ 724,014	$ 1,783,961	$ 2,171,820
Cost of sales		411,776	453,986	1,157,896	1,358,001
Gross profit		222,749	270,028	626,065	813,819
Selling, General and Administrative Expense		128,814	144,460	384,580	445,000
Restructuring Charges		7,263	4,223	10,281	6,806
Income from operations	[1],[2]	86,672	121,345	231,204	362,013
Net interest expense and deferred financing amortization, net		18,418	20,846	55,881	63,334
Net periodic pension benefit (other than service costs)		(10,149)	(7,175)	(30,004)	(22,233)
Other (income) expense, net		(294)	1,444	3,414	(489)
Earnings before income taxes		78,697	106,230	201,913	321,401
Provision for income taxes		18,181	24,210	46,456	78,158
Net earnings		$ 60,516	$ 82,020	$ 155,457	$ 243,243
Net earnings per share:
Earnings Per Share, Basic		$ 1.10	$ 1.47	$ 2.82	$ 4.37
Earnings Per Share, Diluted		$ 1.10	$ 1.47	$ 2.82	$ 4.37
Weighted average number of shares
Basic (in shares)		54,982,000	55,663,000	55,104,000	55,641,000
Dilutive common stock equivalents (in shares)		118,000	0	48,000	0
Diluted (in shares)		55,100,000	55,663,000	55,152,000	55,641,000
Comprehensive income		$ 82,887	$ 55,915	$ 133,201	$ 191,876
[1]	Non-operating expenses are not allocated to the operating segments. Non-operating expenses consist of interest expense and deferred financing amortization, foreign exchange gains and losses and other income and expense items outside of income from operations.
[2]	Restructuring expenses are allocated in operating income by segment. See note 16 for further details.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY Statement - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Common StockCumulative Effect, Period of Adoption, Adjustment	Paid-in Capital	Paid-in CapitalCumulative Effect, Period of Adoption, Adjustment	Treasury Stock	Treasury StockCumulative Effect, Period of Adoption, Adjustment	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	[1]	Accumulated Other Comprehensive Income (loss)	Accumulated Other Comprehensive Income (loss)Cumulative Effect, Period of Adoption, Adjustment	[1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of ASU 2017-12 (1)		$ 100
Adoption of ASU 2017-12 (1) | Accounting Standards Update 2017-12		$ 0		$ 0		$ 0		$ 0		$ (11)			$ 11
Balance, Beginning at Dec. 29, 2018	$ 1,665,203		$ 145		$ 377,419		$ (445,118)		$ 2,009,233			$ (276,476)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	243,243		0		0		0		243,243			0
Currency translation adjustment	(27,190)		0		0		0		0			(27,190)
Change in unrecognized pension benefit costs, net of tax	4,966		0		0		0		0			4,966
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, Tax	955
Unrealized gain on interest rate swaps, net of tax	(29,143)
Unrealized gain on interest rate swaps, net of tax | Accounting Standards Update 2017-12	(29,154)		0		0		0		0			(29,154)
Unrealized (loss) gain on interest rate swap, tax	(9,890)
Stock compensation	3,257		0		3,257		0		0			0
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	1,850		0		1,850		0		0			0
Purchase of treasury stock	(6,144)		0		0		(6,144)		0			0
Balance, Ending at Sep. 28, 2019	1,856,031		145		382,526		(451,262)		2,252,465			(327,843)
Balance, Beginning at Jun. 29, 2019	1,798,251		145		380,603		(451,204)		2,170,445			(301,738)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	82,020		0		0		0		82,020			0
Currency translation adjustment	(25,428)		0		0		0		0			(25,428)
Change in unrecognized pension benefit costs, net of tax	4,975		0		0		0		0			4,975
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, Tax	1,026
Unrealized gain on interest rate swaps, net of tax	(5,652)		0		0		0		0			(5,652)
Unrealized (loss) gain on interest rate swap, tax	(1,867)
Stock compensation	1,923		0		1,923		0		0			0
Purchase of treasury stock	(58)		0		0		(58)		0			0
Balance, Ending at Sep. 28, 2019	1,856,031		145		382,526		(451,262)		2,252,465			(327,843)
Balance, Beginning at Dec. 28, 2019	1,946,814		145		387,402		(451,262)		2,361,462			(350,933)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	155,457		0		0		0		155,457			0
Currency translation adjustment	(3,213)		0		0		0		0			(3,213)
Change in unrecognized pension benefit costs, net of tax	6,184		0		0		0		0			6,184
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, Tax	1,308
Unrealized gain on interest rate swaps, net of tax	(25,227)		0		0		0		0			(25,227)
Unrealized (loss) gain on interest rate swap, tax	(9,303)
Stock compensation	14,422		0		14,422		0		0			0
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	13,822		1		13,821		0		0			0
Purchase of treasury stock	(77,244)		0		0		(77,244)		0			0
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt	307		0		307		0		0			0
Balance, Ending at Sep. 26, 2020	2,031,322		146		415,952		(528,506)		2,516,919			(373,189)
Balance, Beginning at Jun. 27, 2020	1,939,517		145		406,640		(528,111)		2,456,403			(395,560)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	60,516		0		0		0		60,516			0
Currency translation adjustment	25,851		0		0		0		0			25,851
Change in unrecognized pension benefit costs, net of tax	(6,133)		0		0		0		0			(6,133)
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, Tax	(1,283)
Unrealized gain on interest rate swaps, net of tax	2,653		0		0		0		0			2,653
Unrealized (loss) gain on interest rate swap, tax	960
Stock compensation	5,300		0		5,300		0		0			0
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	3,706		1		3,705		0		0			0
Purchase of treasury stock	(395)		0		0		(395)		0			0
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt	307		0		307		0		0			0
Balance, Ending at Sep. 26, 2020	$ 2,031,322		$ 146		$ 415,952		$ (528,506)		$ 2,516,919			$ (373,189)
[1]	As of December 30, 2018, the company adopted ASU No. 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities" using the modified retrospective method. The adoption of this guidance resulted in the recognition of less than $0.1 million as an adjustment to the opening balance of retained earnings.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
Cash flows from operating activities--
Net earnings	$ 155,457	$ 243,243
Adjustments to reconcile net earnings to net cash provided by operating activities--
Depreciation and amortization expense	81,594	77,272
Amortization of discount and issuance costs on convertible notes	2,130	0
Non-cash share-based compensation	14,422	3,257
Deferred income taxes	11,696	9,931
Net periodic pension benefit (other than service costs)	(30,004)	(22,233)
Changes in assets and liabilities, net of acquisitions
Accounts receivable, net	69,176	(1,116)
Inventories, net	43,188	(65,864)
Prepaid expenses and other assets	16,576	1,903
Accounts payable	(28,171)	(17,659)
Accrued expenses and other liabilities	(19,882)	1,010
Net cash provided by operating activities	316,182	229,744
Cash flows from investing activities--
Additions to property and equipment	(29,776)	(33,819)
Proceeds from Sale of Property, Plant, and Equipment	9,381	0
Acquisitions, net of cash acquired	(33,144)	(238,974)
Net cash (used in) investing activities	(53,539)	(272,793)
Cash flows from financing activities--
Proceeds under Credit Facility	2,547,305	444,451
Repayments under Credit Facility	3,217,507	375,188
Proceeds from issuance of convertible notes, net of issuance costs	729,933	0
Premiums paid for capped call	(104,650)	0
Net proceeds under international credit facilities	2,033	319
Net repayments under other debt arrangement	(34)	(175)
Payments of deferred purchase price	(3,700)	(1,648)
Repurchase of treasury stock	(77,244)	(6,144)
Payments of Debt Issuance Costs	10,974	0
Net cash (used in) provided by financing activities	(134,838)	61,615
Effect of exchange rates on cash and cash equivalents	(1,995)	(3,086)
Changes in cash and cash equivalents--
Net (decrease) increase in cash and cash equivalents	125,810	15,480
Cash and cash equivalents at beginning of year	94,500	71,701
Cash and cash equivalents at end of quarter	220,310	87,181
Stock issuance related to acquisition	$ 3,706	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 26, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies a) Basis of Presentation The condensed consolidated financial statements have been prepared by The Middleby Corporation (the "company" or “Middleby”), pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The financial statements are unaudited and certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although the company believes that the disclosures are adequate to make the information not misleading. These financial statements should be read in conjunction with the financial statements and related notes contained in the company's 2019 Form 10-K. The company’s interim results are not necessarily indicative of future full year results for the fiscal year 2020. In the opinion of management, the financial statements contain all adjustments, which are normal and recurring in nature, necessary to present fairly the financial position of the company as of September 26, 2020 and December 28, 2019, the results of operations for the three and nine months ended September 26, 2020 and September 28, 2019, cash flows for the nine months ended September 26, 2020 and September 28, 2019 and statement of stockholders' equity for the three and nine months ended September 26, 2020 and September 28, 2019. Certain prior year amounts have been reclassified to be consistent with current year presentation, including classifying the non-operating components of pension benefit as an individual adjustment within the operating activities on the Consolidated Statements of Cash Flows. Previously the amounts were reported as changes in accrued expenses and other liabilities. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses. Significant estimates and assumptions are used for, but are not limited to, allowances for doubtful accounts, reserves for excess and obsolete inventories, long-lived and intangible assets, warranty reserves, insurance reserves, income tax reserves, non-cash share-based compensation and post-retirement obligations. Actual results could differ from the company's estimates. b) Non-Cash Share-Based Compensation The company estimates the fair value of market-based stock awards and stock options at the time of grant and recognizes compensation cost over the vesting period of the awards and options. Non-cash share-based compensation expense was $5.3 million and $2.0 million for the three months period ended September 26, 2020 and September 28, 2019, respectively. Non-cash share-based compensation expense was $14.4 million and $3.3 million for the nine months period ended September 26, 2020 and September 28, 2019, respectively. c) Income Taxes A tax provision of $18.2 million, at an effective rate of 23.1% was recorded during the three months period ended September 26, 2020, as compared to a $24.2 million tax provision at an effective rate of 22.8% in the prior year period. A tax provision of $46.5 million, at an effective rate of 23.0%, was recorded during the nine months period ended September 26, 2020, as compared to a $78.2 million tax provision at a 24.3% effective rate in the prior year period. The effective tax rates in 2020 and 2019 are higher than the federal tax rate of 21% primarily due to state taxes. The effective tax rate for the nine months period ended September 26, 2020 is lower than the comparable prior year rate primarily due to a reduction in non-deductible costs. d) Fair Value Measures Accounting Standards Codification ("ASC") 820 "Fair Value Measurements and Disclosures" defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 establishes a fair value hierarchy, which prioritizes the inputs used in measuring fair value into the following levels: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Inputs, other than quoted prices in active markets, that are observable either directly or indirectly. Level 3 – Unobservable inputs based the company's own assumptions. The company’s financial assets and liabilities that are measured at fair value and are categorized using the fair value hierarchy are as follows (in thousands): Fair Value Fair Value Fair Value Total As of September 26, 2020 Financial Liabilities: Interest rate swaps $ — $ 57,820 $ — $ 57,820 Contingent consideration $ — $ — $ 10,542 $ 10,542 Foreign exchange derivative contracts — 171 — $ 171 As of December 28, 2019 Financial Assets: Interest rate swaps $ — $ 1,830 $ — $ 1,830 Financial Liabilities: Interest rate swaps $ — $ 25,120 $ — $ 25,120 Contingent consideration $ — $ — $ 6,697 $ 6,697 Foreign exchange derivative contracts $ — $ 901 $ — $ 901 The contingent consideration as of September 26, 2020 and December 28, 2019, relates to the earnout provisions recorded in conjunction with various purchase agreements. The earnout provisions associated with these acquisitions are based upon performance measurements related to sales and earnings, as defined in the respective purchase agreement. On a quarterly basis, the company assesses the projected results for each acquired business in comparison to the earnout targets and adjusts the liability accordingly. e) Consolidated Statements of Cash Flows Cash paid for interest was $51.1 million and $61.7 million for the nine months ended September 26, 2020 and September 28, 2019, respectively. Cash payments totaling $28.0 million and $65.7 million were made for income taxes for the nine months ended September 26, 2020 and September 28, 2019, respectively.

Acquisitions and Purchase Accou

Acquisitions and Purchase Accounting	9 Months Ended
	Sep. 26, 2020
Business Combinations [Abstract]
Business Combination Disclosure	Acquisitions and Purchase Accounting The company operates in a highly fragmented industry and has completed numerous acquisitions over the past several years as a component of its growth strategy. The company has acquired industry leading brands and technologies to position itself as a leader in the commercial foodservice equipment, food processing equipment and residential kitchen equipment industries. The company has accounted for all business combinations using the acquisition method to record a new cost basis for the assets acquired and liabilities assumed. The difference between the purchase price and the fair value of the assets acquired and liabilities assumed has been recorded as goodwill in the financial statements. The company also recognizes identifiable intangible assets, primarily trade names and customer relationships, at their fair value using a discounted cash flow model. The significant assumptions used to estimate the value of the intangible assets include revenue growth rates, projected profit margins, discount rates, royalty rates, and customer attrition rates. These significant assumptions are forward-looking and could be affected by future economic and market conditions. The results of operations are reflected in the consolidated financial statements of the company from the dates of acquisition. The following represents the company's significant acquisitions in 2020 and 2019 as well as summarized information on various acquisitions that were not individually material. The company also made smaller acquisitions not presented below which are individually and collectively immaterial. Cooking Solutions Group On April 1, 2019, the company completed its acquisition of all of the capital stock of Cooking Solutions Group, Inc. ("Cooking Solutions Group") from Standex International Corporation, which consists of the brands APW Wyott, Bakers Pride, BKI and Ultrafryer with locations in Texas, South Carolina and Mexico for a purchase price of approximately $106.1 million, net of cash acquired. During the third quarter of 2019, the company finalized the working capital provision provided for by the purchase agreement resulting in a payment due to the sellers of $0.1 million. The final allocation of consideration paid for the Cooking Solutions Group acquisition is summarized as follows (in thousands): (as initially Measurement (as adjusted) 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 The long-term deferred tax liability amounted to $10.5 million. The net deferred tax liability is comprised of $11.6 million of deferred tax liability related to the difference between the book and tax basis on identifiable intangible asset and liability accounts and $1.1 million of deferred tax asset related to the difference between the book and tax basis on identifiable tangible assets and liability accounts. The goodwill and $24.7 million of other intangibles associated with the trade name are subject to the non-amortization provisions of ASC 350. Other intangibles also include $22.5 million allocated to customer relationships and $0.4 million allocated to backlog, which are being amortized over periods of 9 years and 3 months, respectively. Goodwill and other intangibles of Cooking Solutions Group are allocated to the Commercial Foodservice Equipment Group for segment reporting purposes. These assets are not expected to be deductible for tax purposes. Other 2019 Acquisitions During 2019, the company completed various other acquisitions that were not individually material. 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 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 (11,213) 88,625 Other intangibles 64,019 11,363 75,382 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) (4,129) (10,299) Consideration paid at closing $ 171,803 $ (1,205) $ 170,598 Deferred payments 2,404 — 2,404 Contingent consideration 4,258 3,600 7,858 Net assets acquired and liabilities assumed $ 178,465 $ 2,395 $ 180,860 The long-term deferred tax asset amounted to $2.7 million. The net deferred tax asset is comprised of $2.9 million of deferred tax asset related to tax loss carryforwards, $1.0 million of deferred tax liability related to the difference between the book and tax basis of identifiable intangible assets and $0.8 million of deferred tax asset related to the difference between the book and tax basis on identifiable tangible asset and liability accounts. The goodwill and $33.8 million of other intangibles associated with the trade names are subject to the non-amortization provisions of ASC 350. Other intangibles also include $27.9 million allocated to customer relationships, $12.3 million allocated to developed technology and $1.4 million allocated to backlog, which are being amortized over periods of 5 to 10 years, 5 to 12 years, and 3 months, respectively. Goodwill of $42.6 million and other intangibles of $35.5 million of the companies are allocated to the Commercial Foodservice Equipment Group for segment reporting purposes. Goodwill of $34.9 million and other intangibles of $30.1 million are allocated to the Food Processing Equipment Group for segment reporting purposes. Goodwill of $11.2 million and other intangibles of $9.8 million are allocated to the Residential Kitchen Equipment Group for segment reporting purposes. Of these assets, goodwill of $77.8 million and intangibles of $64.8 million are expected to be deductible for tax purposes. Two purchase agreements include deferred payments and earnout provisions providing for contingent payments due to the sellers to the extent certain financial targets are exceeded. The deferred payments are payable between 2020 and 2022. The contractual obligations associated with the deferred payments on the acquisition dates amount to $2.4 million. The earnouts are payable between 2021 and 2030, if the companies exceed certain sales and earnings targets. The contractual obligations associated with the contingent earnout provisions recognized on the acquisition dates amount to $7.9 million. The company believes that information gathered to date provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed, but the company is waiting for additional information necessary to finalize those fair values for various 2019 acquisitions. Thus, the provisional measurements of fair value set forth above are subject to change. The company expects to complete the purchase price allocations during 2020. 2020 Acquisitions As of September 26, 2020, the company has completed various acquisitions that were not individually material. 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 Preliminary Measurement Adjusted Opening Balance Sheet Cash $ 2,347 $ — $ 2,347 Current assets 31,089 (12,908) 18,181 Property, plant and equipment 1,032 (241) 791 Goodwill 12,776 672 13,448 Other intangibles 16,484 — 16,484 Other assets 1,708 — 1,708 Current liabilities (30,005) 12,477 (17,528) 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 The goodwill and $9.0 million of other intangibles associated with the trade names are subject to the non-amortization provisions of ASC 350. Other intangibles also include $5.3 million allocated to customer relationships, $0.2 million allocated to developed technology and $2.0 million allocated to backlog, which are being amortized over periods of 7 years, 7 years, and 9 months, respectively. Goodwill of $13.4 million and other intangibles of $16.5 million of the companies are allocated to the Commercial Foodservice Equipment Group for segment reporting purposes and are expected to be deductible for tax purposes. One purchase agreement includes a deferred payment and earnout provision providing for contingent payments due to the sellers to the extent certain financial targets are exceeded. The deferred payment is payable during 2020. The contractual obligation associated with the deferred payments on the acquisition date is $1.3 million. The earnout is payable in 2023, if the company exceeds certain sales and earnings targets. The contractual obligation associated with the contingent earnout provision recognized on the acquisition date is $1.8 million. The company believes that information gathered to date provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed, but the company is waiting for additional information necessary to finalize those fair values for substantially all 2020 acquisitions to date. Thus, the provisional measurements of fair value set forth above are subject to change. The company expects to complete the purchase price allocation as soon as practicable but no later than one year from the acquisition date. Pro Forma Financial Information In accordance with ASC 805 Business Combinations , the following unaudited pro forma results of operations for the nine months ended September 26, 2020 and September 28, 2019, assumes the 2019 and 2020 acquisitions described above were completed on December 30, 2018 (first day of fiscal year 2019). 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 September 26, 2020 September 28, 2019 Net sales $ 1,786,481 $ 2,262,959 Net earnings 158,115 231,068 Net earnings per share: Basic $ 2.87 $ 4.15 Diluted $ 2.87 $ 4.15 The historical consolidated financial information of the Company and the acquisitions have been adjusted in the pro forma information to give effect to pro forma events that are (1) directly attributable to the transactions, (2) factually supportable and (3) expected to have a continuing impact on the combined results. Pro forma data may not be indicative of the results that would have been obtained had these acquisitions occurred at the beginning of the periods presented, nor is it intended to be a projection of future results. Additionally, the pro forma financial information does not reflect the costs which the company has incurred or may incur to integrate the acquired businesses.

Litigation Matters

Litigation Matters	9 Months Ended
	Sep. 26, 2020
Notes To Financial Statements [Abstract]
Litigation Matters	Litigation MattersFrom time to time, the company is subject to proceedings, lawsuits and other claims related to products, suppliers, employees, customers and competitors. The company maintains insurance to partially cover product liability, workers compensation, property and casualty, and general liability matters. The company is required to assess the likelihood of any adverse judgments or outcomes to these matters as well as potential ranges of probable losses. A determination of the amount of accrual required, if any, for these contingencies is made after assessment of each matter and the related insurance coverage. The required accrual may change in the future due to new developments or changes in approach such as a change in settlement strategy in dealing with these matters. The company does not believe that any pending litigation will have a material effect on its financial condition, results of operations or cash flows.

Recently Issued Accounting Stan

Recently Issued Accounting Standards	9 Months Ended
	Sep. 26, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Standards Accounting Pronouncements - Recently Adopted In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, and has since modified the standard with several ASUs (collectively, the “new credit loss standard”). The new credit loss standard requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions and reasonable and supportable forecasts that affect the collectability of the reported amount. The company adopted the new standard as of December 29, 2019 (first day of fiscal year 2020) using the modified retrospective approach. As a result of the company's assessment process on its receivables and contract assets portfolio, which is the only financial instrument in scope of this standard, the adoption of this guidance did not have a material impact on the company's Condensed Consolidated Financial Statements. In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment". The amendments in ASU-04 simplify the subsequent measurement of goodwill, by removing the second step of the goodwill impairment test. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value. The new guidance does not amend the optional qualitative assessment of goodwill impairment. The company adopted this guidance on December 29, 2019 on a prospective basis. The adoption of this guidance did not have an impact on the company's Condensed Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement". The amendments in ASU-13 remove, modify and add various disclosure requirements around fair value measurement in order to clarify and improve the cost-benefit nature of disclosures. The company adopted this guidance on December 29, 2019 on a prospective basis. The adoption of this guidance did not have an impact on the company's Condensed Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40)". The amendments in ASU-15 align the requirements for capitalizing implementation costs in a service contract hosting arrangement with those of developing or obtaining internal-use software. The company adopted this guidance on December 29, 2019 on a prospective basis. The adoption of this guidance did not have an impact on the company's Condensed Consolidated Financial Statements. Accounting Pronouncements - To be adopted In August 2018, the FASB issued ASU 2018-14, "Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20)". The amendments in ASU-14 remove, modify and add various disclosure requirements around the topic in order to clarify and improve the cost-benefit nature of disclosures. This guidance is effective for annual reporting periods, and interim periods within those reporting periods, beginning after December 15, 2020 with early adoption permitted. The amendments must be applied on a retrospective basis for all periods presented. The company is currently evaluating the impacts the adoption of this guidance will have on its Condensed Consolidated Financial Statements. In December 2019, the FASB issued ASU 2019-12, "Simplifying the Accounting for Income Taxes (Topic 740)", which removes certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. This guidance also clarifies and simplifies other areas of ASC 740. This guidance is effective for annual reporting periods, and interim periods within those reporting periods, beginning after December 15, 2020 with early adoption permitted. Certain amendments in this update must be applied on a prospective basis, certain amendments must be applied on a retrospective basis, and certain amendments must be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings in the period of adoption. The company is currently evaluating the impacts the adoption of this guidance will have on its Condensed Consolidated Financial Statements. In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting". Subject to meeting certain criteria, ASU 2020-04 provides optional expedients and exceptions to applying contract modification accounting under existing generally accepted accounting principles, for contracts that are modified to address the expected phase out of the London Inter-bank Offered Rate (“LIBOR”) by the end of 2021. Some of the Company’s contracts with respect to its borrowings and interest rate swap contracts already contain comparable alternative reference rates that would automatically take effect upon the phasing out of LIBOR, while for others, the company anticipates negotiating comparable replacement rates with its counterparties. This guidance is effective for all entities from the beginning of an interim period that includes the issuance date of the ASU. An entity may elect to apply the amendments prospectively through December 31, 2022. The company is currently evaluating the impacts the adoption of this guidance will have on its Condensed Consolidated Financial Statements. In August 2020, the FASB issued ASU No. 2020-06, “Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging- Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity”, which simplifies the accounting for convertible instruments by eliminating the requirement to separate embedded conversion features from the host contract when the conversion features are not required to be accounted for as derivatives under Topic 815, Derivatives and Hedging, or that do not result in substantial premiums accounted for as paid-in capital. By removing the separation model, a convertible debt instrument will be reported as a single liability instrument with no separate accounting for embedded conversion features. This new standard also removes certain settlement conditions that are required for contracts to qualify for equity classification and simplifies the diluted earnings per share calculations by requiring that an entity use the if-converted method and that the effect of potential share settlement be included in diluted earnings per share calculations. This guidance is effective for annual reporting periods, and interim periods within those reporting periods, beginning after December 15, 2021 with early adoption permitted. Adoption is either a modified retrospective method or a fully retrospective. The company is currently evaluating early adoption and the impacts this guidance will have on its Condensed Consolidated Financial Statements.

Revenue Recognition Revenue Rec

Revenue Recognition Revenue Recognition (Notes)	9 Months Ended
	Sep. 26, 2020
Revenue Recognition [Abstract]
Revenue from Contract with Customer [Text Block]	Revenue Recognition Disaggregation of Revenue The company disaggregates its net sales by reportable operating segment and geographical location as the company believes it best depicts how the nature, timing and uncertainty of its net sales and cash flows are affected by economic factors. In general, the Commercial Foodservice Equipment and Residential Foodservice Equipment Groups recognize revenue at the point in time control transfers to their customers based on contractual shipping terms. Revenue from equipment sold under the company's long-term contracts within the Food Processing Equipment group is recognized over time as the equipment is manufactured and assembled. The following table summarizes the company's net sales by reportable operating segment and geographical location (in thousands): Commercial Food Processing Residential Kitchen Total Three Months Ended September 26, 2020 United States and Canada $ 265,793 $ 82,126 $ 97,318 $ 445,237 Asia 39,864 4,711 1,875 46,450 Europe and Middle East 60,603 18,600 52,216 131,419 Latin America 4,963 5,211 1,245 11,419 Total $ 371,223 $ 110,648 $ 152,654 $ 634,525 Nine Months Ended September 26, 2020 United States and Canada $ 768,202 $ 227,770 $ 264,116 $ 1,260,088 Asia 104,936 18,460 3,753 127,149 Europe and Middle East 180,187 57,051 117,187 354,425 Latin America 28,522 13,196 581 42,299 Total $ 1,081,847 $ 316,477 $ 385,637 $ 1,783,961 Three Months Ended September 28, 2019 United States and Canada $ 346,616 $ 57,255 $ 86,859 $ 490,730 Asia 53,463 5,100 1,490 60,053 Europe and Middle East 82,244 21,125 44,395 147,764 Latin America 18,667 5,667 1,133 25,467 Total $ 500,990 $ 89,147 $ 133,877 $ 724,014 Nine Months Ended September 28, 2019 United States and Canada $ 1,004,609 $ 172,944 $ 270,689 $ 1,448,242 Asia 153,787 21,836 4,355 179,978 Europe and Middle East 258,102 67,624 142,016 467,742 Latin America 55,302 17,070 3,486 75,858 Total $ 1,471,800 $ 279,474 $ 420,546 $ 2,171,820 Contract Balances Contract assets primarily relate to the company's right to consideration for work completed but not billed at the reporting date and are recorded in prepaid expenses and other in the Condensed Consolidated Balance Sheet. Contract assets are transferred to receivables when the right to consideration becomes unconditional. Accounts receivable are not considered contract assets under the revenue standard as contract assets are conditioned upon the company's future satisfaction of a performance obligation. Accounts receivable, in contracts, are unconditional rights to consideration. Contract liabilities relate to advance consideration received from customers for which revenue has not been recognized. Current contract liabilities are recorded in accrued expenses in the Condensed Consolidated Balance Sheet. Non-current contract liabilities are recorded in other non-current liabilities in the Condensed Consolidated Balance Sheet. Contract liabilities are reduced when the associated revenue from the contract is recognized. The following table provides information about contract assets and contract liabilities from contracts with customers (in thousands): Sep 26, 2020 Dec 28, 2019 Contract assets $ 21,345 $ 22,675 Contract liabilities $ 86,103 $ 74,511 Non-current contract liabilities $ 12,488 $ 12,870 During the nine months period ended September 26, 2020, the company reclassified $13.0 million to receivables, which was included in the contract asset balance at the beginning of the period. During the nine months period ended September 26, 2020, the company recognized revenue of $43.8 million which was included in the contract liability balance at the beginning of the period. Additions to contract liabilities representing amounts billed to clients in excess of revenue recognized to date were $70.9 million during the nine months period ended September 26, 2020. The increase in contract liabilities primarily relates to companies acquired during the nine months period ended September 26, 2020. Substantially, all of the company's outstanding performance obligations will be satisfied within 12 to 36 months. There were no contract asset impairments during the nine months period ended September 26, 2020.

Other Comprehensive Income (Not

Other Comprehensive Income (Notes)	9 Months Ended
	Sep. 26, 2020
Disclosure Other Comprehensive Income Additional Information [Abstract]
Other Comprehensive Income	Other Comprehensive Income The company reports changes in equity during a period, except those resulting from investments by owners and distributions to owners, in accordance with ASC 220, "Comprehensive Income". Changes in accumulated other comprehensive income (1) were as follows (in thousands): Currency Translation Adjustment Pension Benefit Costs Unrealized Gain/(Loss) Interest Rate Swap Total Balance as of December 28, 2019 $ (105,705) $ (228,336) $ (16,892) $ (350,933) Other comprehensive income before reclassification (3,213) 6,184 (35,646) (32,675) Amounts reclassified from accumulated other comprehensive income — — 10,419 10,419 Net current-period other comprehensive income $ (3,213) $ 6,184 $ (25,227) $ (22,256) Balance as of September 26, 2020 $ (108,918) $ (222,152) $ (42,119) $ (373,189) Balance as of December 29, 2018 $ (112,771) $ (170,938) $ 7,233 $ (276,476) Adoption of ASU 2017-12 (2) — — 11 11 Other comprehensive income before reclassification (27,190) 4,966 (27,201) (49,425) Amounts reclassified from accumulated other comprehensive income — — (1,953) (1,953) Net current-period other comprehensive income $ (27,190) $ 4,966 $ (29,143) $ (51,367) Balance as of September 28, 2019 $ (139,961) $ (165,972) $ (21,910) $ (327,843) (1) As of September 26, 2020, pension and interest rate swap amounts are net of tax of $(47.3) million and $(15.3) million, respectively. During the nine months ended September 26, 2020, the adjustments to pension benefit costs and unrealized gain/(loss) interest rate swap were net of tax of $1.3 million and $(9.3) million, respectively. As of September 28, 2019 pension and interest rate swap amounts are net of tax of $(35.8) million and $(7.3) million, respectively. During the nine months ended September 28, 2019, the adjustments to pension benefit costs and unrealized gain/(loss) interest rate swap were net of tax of $1.0 million and $(9.9) million, respectively. (2) As of December 30, 2018, the company adopted ASU No. 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities" using the modified retrospective method. The adoption of this guidance resulted in the recognition of less than $0.1 million as an adjustment to the opening balance of retained earnings. Components of other comprehensive income were as follows (in thousands): Three Months Ended Nine Months Ended Sep 26, 2020 Sep 28, 2019 Sep 26, 2020 Sep 28, 2019 Net earnings $ 60,516 $ 82,020 $ 155,457 $ 243,243 Currency translation adjustment 25,851 (25,428) (3,213) (27,190) Pension liability adjustment, net of tax (6,133) 4,975 6,184 4,966 Unrealized gain (loss) on interest rate swaps, net of tax 2,653 (5,652) (25,227) (29,143) Comprehensive income $ 82,887 $ 55,915 $ 133,201 $ 191,876

Inventories

Inventories	9 Months Ended
	Sep. 26, 2020
Notes To Financial Statements [Abstract]
Inventories	Inventories Inventories are composed of material, labor and overhead and are stated at the lower of cost or market. Costs for inventory have been determined using the first-in, first-out ("FIFO") method. The company estimates reserves for inventory obsolescence and shrinkage based on its judgment of future realization. Inventories at September 26, 2020 and December 28, 2019 are as follows (in thousands): Sep 26, 2020 Dec 28, 2019 Raw materials and parts $ 274,769 $ 277,394 Work-in-process 59,496 58,663 Finished goods 223,247 249,642 $ 557,512 $ 585,699

Goodwill

Goodwill	9 Months Ended
	Sep. 26, 2020
Notes To Financial Statements [Abstract]
Goodwill	Goodwill Changes in the carrying amount of goodwill for the nine months ended September 26, 2020 are as follows (in thousands): Commercial Food Residential Kitchen Total Balance as of December 28, 2019 $ 1,153,552 $ 257,679 $ 438,516 $ 1,849,747 Goodwill acquired during the year 13,448 — — 13,448 Measurement period adjustments to (55) (8,732) 1,673 (7,114) Exchange effect 3,571 2,706 (6,997) (720) Balance as of September 26, 2020 $ 1,170,516 $ 251,653 $ 433,192 $ 1,855,361 The company continues to monitor the global outbreak of the COVID-19 pandemic to assess the outlook for demand of its products and the impact on its business and financial performance. The potential impact of the COVID-19 pandemic on demand, production levels, and its operating results in the short-term is uncertain, but the company remains committed to the strategic actions necessary to realize long-term revenue and cash flow growth rates. The potential negative demand effect on revenues is also uncertain given the volatile environment, but demand and production levels are anticipated to recover. As a result of the company's analysis, and in consideration of the totality of events and circumstances, there were no triggering events requiring an interim goodwill impairment assessment identified during the nine months period ended September 26, 2020. Additionally, for the assessment of indefinite-life intangible assets other than goodwill, primarily trademarks and trade names, the company identified several trademarks and trade names with indicators of potential risk for impairment and performed quantitative assessments. The fair values of the trademarks tested exceeded their carrying values by more than 10%. As a result, no impairment charges for goodwill and indefinite-lived intangible assets were recorded during the nine months period ended September 26, 2020.

Intangibles (Notes)

Intangibles (Notes)	9 Months Ended
	Sep. 26, 2020
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets Disclosure [Text Block]	Intangibles Intangible assets consist of the following (in thousands): September 26, 2020 December 28, 2019 Estimated Gross Accumulated Estimated Gross Accumulated Amortized intangible assets: Customer lists 8.7 $ 726,631 $ (331,670) 9.2 $ 717,397 $ (283,846) Backlog 0.5 31,336 (30,389) 1.3 29,426 (28,283) Developed technology 7.3 36,351 (23,678) 5.2 32,999 (21,378) $ 794,318 $ (385,737) $ 779,822 $ (333,507) Indefinite-lived assets: Trademarks and tradenames $ 1,012,019 $ 997,066 The aggregate intangible amortization expense was $16.9 million and $17.3 million for the three months period ended September 26, 2020 and September 28, 2019, respectively. The aggregate intangible amortization expense was $51.4 million and $48.1 million for the nine months period ended September 26, 2020 and September 28, 2019, respectively. The estimated future amortization expense of intangible assets is as follows (in thousands): Twelve Month Period coinciding with the end of the company's Fiscal Third Quarter Amortization Expense 2021 $ 64,119 2022 60,564 2023 54,096 2024 45,053 2025 35,892 Thereafter 148,857 $ 408,581

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 26, 2020
Disclosure Accrued Expenses [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consist of the following (in thousands): Sep 26, 2020 Dec 28, 2019 Contract liabilities $ 86,103 $ 74,511 Accrued payroll and related expenses 71,526 80,621 Accrued warranty 67,714 66,374 Accrued customer rebates 33,418 51,709 Accrued sales and other tax 23,438 19,862 Accrued short-term leases 23,297 21,827 Accrued interest rate swaps 15,282 — Accrued product liability and workers compensation 13,134 15,164 Accrued professional fees 12,291 13,368 Accrued agent commission 10,562 13,816 Accrued restructuring 5,818 1,121 Other accrued expenses 58,997 58,177 $ 421,580 $ 416,550

Warranty Costs

Warranty Costs	9 Months Ended
	Sep. 26, 2020
Notes To Financial Statements [Abstract]
Warranty Costs	Warranty Costs In the normal course of business, the company issues product warranties for specific product lines and provides for the estimated future warranty cost in the period in which the sale is recorded. The estimate of warranty cost is based on contract terms and historical warranty loss experience that is periodically adjusted for recent actual experience. Because warranty estimates are forecasts that are based on the best available information, actual claims costs may differ from amounts provided. Adjustments to initial obligations for warranties are made as changes in the obligations become reasonably estimable. A rollforward of the warranty reserve is as follows (in thousands): Nine Months Ended Sep 26, 2020 Balance as of December 28, 2019 $ 66,374 Warranty reserve related to acquisitions 1,335 Warranty expense 42,480 Warranty claims (42,475) Balance as of September 26, 2020 $ 67,714

Financing Arrangements

Financing Arrangements	9 Months Ended
	Sep. 26, 2020
Notes To Financial Statements [Abstract]
Financing Arrangements	Financing Arrangements Sep 26, 2020 Dec 28, 2019 (in thousands) Senior secured revolving credit line $ 854,758 $ 1,869,402 Term loan facility 345,312 — Convertible senior notes 627,006 — Foreign loans 4,967 3,622 Other debt arrangement 82 116 Total debt 1,832,125 1,873,140 Less: Current maturities of long-term debt 23,152 2,894 Long-term debt 1,808,973 1,870,246 On January 31, 2020, the company entered into an amended and restated five-year, $3.5 billion multi-currency senior secured credit agreement (as amended as described below, the "Credit Facility"). The Credit Facility amended the company's pre-existing $3.0 billion credit facility, which had an original maturity of July 2021, to provide for (i) a $750.0 million term loan facility and (ii) a $2.75 billion multi-currency revolving credit facility, with the potential under certain circumstances, to increase the amount of the credit facility to up to a total of $4.0 billion (plus additional amounts, subject to compliance with a senior secured net leverage ratio). The Credit Facility matures on January 31, 2025. The term loan facility will amortize in equal quarterly installments due on the last day of each fiscal quarter, commencing with the first full fiscal quarter after January 31, 2020, in an aggregate annual amount equal to 2.50% of the original aggregate principal amount of the term loan facility, with the balance, plus any accrued interest, due and payable on January 31, 2025. On August 21, 2020, the company issued $747.5 million aggregate principal amount of 1.00% Convertible Senior Notes due 2025 (the "Convertible Notes") in a private offering pursuant to an indenture, dated August 21, 2020 (the "Indenture"), between the company and U.S. Bank National Association, as trustee. The net proceeds from the sale of the Convertible Notes were approximately $729.9 million after deducting the initial purchasers' discounts and the offering expenses payable by the company. In connection with the pricing of the Convertible Notes, the company entered into privately negotiated capped call transactions (the "Capped Call Transactions") and the company used the net proceeds to pay the aggregate amount of $104.7 million for them. The Capped Call Transactions initially cover, subject to customary anti-dilution adjustments, the number of shares of the company's common stock that underlie the Convertible Notes. The company used a portion of the net proceeds from the offering of the Convertible Notes to prepay $400.0 million aggregate principal amount of its term loan obligations owed under its Credit Facility; which was amended concurrently with the issuance of the Convertible Notes. The Credit Facility, as amended, is in an aggregate principal amount of $3.1 billion, consisting of (i) a $350 million term loan facility and (ii) a $2.75 billion multi-currency revolving credit facility. The maturity date remains unchanged at January 31, 2025. The company intends to use the remaining net proceeds for general corporate purposes, including the financing of its operations, the potential repayment of additional indebtedness and potential acquisitions and other strategic transactions. Credit Facility As of September 26, 2020, the company had $1.2 billion of borrowings outstanding under the Credit Facility, including $814.0 million of borrowings in U.S. Dollars, $40.8 million of borrowings denominated in British Pounds, and $345.3 million outstanding under the term loan. The company also had $13.4 million in outstanding letters of credit as of September 26, 2020, which reduces the borrowing availability under the Credit Facility. Remaining borrowing availability under this facility was $1.9 billion at September 26, 2020. At September 26, 2020, borrowings under the Credit Facility accrued interest at a rate of 1.625% above LIBOR per annum or 0.625% above the highest of the prime rate, the federal funds rate plus 0.50% and one month LIBOR plus 1.00%. The average interest rate per annum, inclusive of hedging instruments, on the debt under the Credit Facility was equal to 3.75% at the end of the period. The interest rates on borrowings under the Credit Facility may be adjusted quarterly based on the company’s Funded Debt less Unrestricted Cash to Pro Forma EBITDA (the “Leverage Ratio”) on a rolling four-quarter basis. Additionally, a commitment fee based upon the Leverage Ratio is charged on the unused portion of the commitments under the Credit Facility. This variable commitment fee was equal to 0.25% per annum as of September 26, 2020. As a result of the amendment, for the quarterly periods extending through the second fiscal quarter of 2021, borrowings under the Credit Facility will accrue interest at a minimum of 2.00% above LIBOR and the variable unused commitment fee will be at a minimum of 0.35%. The term loan facility had an average interest rate per annum, inclusive of hedging instruments, of 2.83% as of September 26, 2020. In addition, the company has other international credit facilities to fund working capital needs outside the United States and the United Kingdom. At September 26, 2020, these foreign credit facilities amounted to $5.0 million in U.S. Dollars with a weighted average per annum interest rate of approximately 6.08%. The company’s debt is reflected on the balance sheet at cost. The fair values of the Credit Facility, term debt and foreign and other debt is based on the amount of future cash flows associated with each instrument discounted using the company's incremental borrowing rate. The company believes its interest rate margins on its existing debt are consistent with current market conditions and therefore the carrying value of debt reflects the fair value. The interest rate margin is based on the company's Leverage Ratio. The carrying value and estimated aggregate fair value, a level 2 measurement, based primarily on market prices, of debt excluding the Convertible Notes is as follows (in thousands): Sep 26, 2020 Dec 28, 2019 Carrying Value Fair Value Carrying Value Fair Value Total debt excluding convertible senior notes $ 1,205,119 $ 1,205,119 $ 1,873,140 $ 1,873,140 The company uses floating-to-fixed interest rate swap agreements to hedge variable interest rate risk associated with the Credit Facility. At September 26, 2020, the company had outstanding floating-to-fixed interest rate swaps totaling $251.0 million notional amount carrying an average interest rate of 2.39% maturing in less than 12 months and $862.0 million notional amount carrying an average interest rate of 1.87% that mature in more than 12 months but less than 84 months. The terms of the Credit Facility, as amended, limit the ability of the company and its subsidiaries to, with certain exceptions: incur indebtedness; grant liens; engage in certain mergers, consolidations, acquisitions and dispositions; make restricted payments; enter into certain transactions with affiliates; and requires, among other things, the company to satisfy certain financial covenants: (i) a minimum Interest Coverage Ratio (as defined in the Credit Facility) of 3.00 to 1.00, (ii) a maximum Total Leverage Ratio of Funded Debt less Unrestricted Cash to Pro Forma EBITDA (each as defined in the Credit Facility) of 5.50 to 1.00, and (iii) a maximum Secured Leverage Ratio of Funded Debt less Unrestricted Cash to Pro Forma EBITDA (each as defined in the Credit Facility) of 3.50 to 1.00; which may be adjusted to 4.00 to 1.00 for a four consecutive fiscal quarter period in connection with certain qualified acquisitions, subject to the terms and conditions contained in the Credit Facility. However; the maximum secured leverage ratio is permitted to be at higher amounts for periods extending through the second fiscal quarter of 2021, after which time covenants will revert to their original levels. The Credit Facility is secured by substantially all of the assets of Middleby Marshall, the company and the company's domestic subsidiaries and is unconditionally guaranteed by, subject to certain exceptions, the company and certain of the company's direct and indirect material foreign and domestic subsidiaries. The Credit Facility contains certain customary events of default, including, but not limited to, the failure to make required payments; bankruptcy and other insolvency events; the failure to perform certain covenants; the material breach of a representation or warranty; non-payment of certain other indebtedness; the entry of undischarged judgments against the company or any subsidiary for the payment of material uninsured amounts; the invalidity of the company guarantee or any subsidiary guaranty; and a change of control of the company. At September 26, 2020, the company was in compliance with all covenants pursuant to its borrowing agreements. The company has run various scenarios to estimate the impact of the COVID-19 pandemic and continues to believe that its future cash generated from operations, together with its capacity under its Credit Facility and its cash on hand, will provide adequate resources to meet its working capital needs and cash requirements and maintain compliance with financial covenants in its Credit Facility for at least the next 12 months. Convertible Notes The following table summarizes the outstanding principal amount and carrying value of the Convertible Notes: Sep 26, 2020 (in thousands) Principal amounts: Principal $ 747,500 Unamortized debt discount (120,494) Net carrying amount $ 627,006 The following table summarizes total interest expense recognized related to the Convertible Notes: Nine Months Ended Sep 26, 2020 Contractual interest expense $ 726 Interest cost related to amortization of the debt discount and issuance costs 2,130 Total interest expense $ 2,856 The estimated fair value of the Convertible Notes was $740.7 million as of September 26, 2020 and was determined through consideration of quoted market prices. The fair value is classified as Level 2, as defined in Note 1 (d), Fair Value Measurements , in these Notes to the Condensed Consolidated Financial Statements included in this Part I, Item 1 of this Quarterly Report on Form 10-Q . The if-converted value of the Convertible Notes did not exceed their respective principal value as of September 26, 2020. The Convertible Notes are general unsecured obligations of the company. The Convertible Notes rank senior in right of payment to any of the company’s future indebtedness that is expressly subordinated in right of payment to the Convertible Notes; rank equal in right of payment to the company’s existing and future unsecured indebtedness that is not so subordinated; are effectively subordinated in right of payment to any of the company’s secured indebtedness to the extent of the value of the assets securing such indebtedness; and are structurally subordinated to all existing and future indebtedness and liabilities of the company’s subsidiaries. In accounting for the issuance of the Convertible Notes, the company separated the Convertible Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar liability that does not have an associated convertible feature. The carrying amount of the equity component, representing the conversion option, which does not meet the criteria for separate accounting as a derivative as it is indexed to the company's own stock, was determined by deducting the fair value of the liability component from the par value of the Convertible Notes. The difference between the principal amount of the Convertible Notes and the liability component represents the debt discount, which is recorded as a direct deduction from the related debt liability in the Condensed Consolidated Balance Sheets and amortized to interest expense using the effective interest method over the term of the Convertible Notes. The effective interest rate of the Convertible Notes is 4.7%. The equity component of the Convertible Notes of approximately $105.0 million is included in the additional paid-in capital in the Condensed Consolidated Balance Sheets and is not remeasured as long as it continues to meet the conditions for equity classification. The company allocated transaction costs related to the Convertible Notes using the same proportions as the proceeds from the Convertible Notes. Transaction costs attributable to the liability component were recorded as a direct deduction from the related debt liability in the Condensed Consolidated Balance Sheets and amortized to interest expense over the term of the Convertible Notes, and transaction costs attributable to the equity component were netted with the equity component in shareholders' equity. The Convertible Notes were issued pursuant to the Indenture and bear interest semi-annually in arrears at a rate of 1.00% per annum on March 1 and September 1 of each year. The Convertible Notes are convertible based upon an initial conversion rate of 7.7746 shares of the company's common stock per $1,000 principal amount of the Convertible Notes, which is equivalent to an initial conversion price of approximately $128.62 per share of the company's common stock. The conversion rate will be subject to adjustment upon occurrence of certain specified events in accordance with the Indenture, but will not be adjusted for accrued and unpaid interest. Additionally, in the event of a Fundamental Change (as defined in the Indenture), holders of the Convertible Notes may require the company to repurchase all or a portion of their Convertible Notes at a price equal to 100.0% of the principal amount of Convertible Notes, plus any accrued and unpaid interest to, but excluding, the repurchase date. Upon conversion, the company will pay cash up to the aggregate principal amount of the Convertible Notes to be converted and pay or deliver, as the case may be, cash, shares of common stock or a combination of cash and shares of common stock, at the company's election, in respect of the remainder, if any, of the company's conversion obligation in excess of the aggregate principal amount of the notes being converted. The Convertible Notes will mature on September 1, 2025 unless they are redeemed, repurchased or converted prior to such date in accordance with their terms. Prior to the close of business on the business day immediately preceding June 1, 2025, the notes will be convertible at the option of the holders only under the following circumstances: (1) during any fiscal quarter commencing after the fiscal quarter ending on January 2, 2021 (and only during such fiscal quarter), if the last reported sale price of the company's common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130.0% of the conversion price for the Convertible Notes on each applicable trading day; (2) during the five business day period after any ten consecutive trading day period in which the trading price per $1,000 principal amount of the Convertible Notes for each trading day of that ten consecutive trading day period was less than 98.0% of the product of the last reported sale price of the company's common stock and the conversion rate of the Convertible Notes on each such trading day; (3) if the company calls such Convertible Notes for redemption; or (4) upon the occurrence of specified corporate events. On or after June 1, 2025, the notes will be convertible at the option of the holders at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. Holders of the Convertible Notes who convert in connection with a Make-Whole Fundamental Change or during a Redemption Period (each as defined in the Indenture) will be, under certain circumstances, entitled to an increase in the conversion rate. The company may settle the conversions of the Convertible Notes in cash, shares of the company's common stock or any combination thereof at its election. The number of shares of the company's common stock issuable at the conversion price of $128.62 per share is expected to be 5.8 million shares. However, the Capped Call Transactions are expected generally to reduce the potential dilution of the company's common stock upon any conversion of Convertible Notes and/or offset the cash payments the company is required to make in excess of the principal amount of the Notes. Under the Capped Call Transactions, the number of shares of common stock issuable at the conversion price of $207.93 is expected to be 3.6 million shares. The Convertible Notes were not convertible during the nine months period ended September 26, 2020 and none have been converted to date. Also given the average market price of the company's common stock has not exceeded the exercise price for the three and nine months periods ended September 26, 2020, there is no impact to the diluted earnings per share. The company may redeem all or any portion of the Convertible Notes, at its option, on or after September 5, 2023 and prior to the 41st scheduled trading day immediately preceding the maturity date, at a redemption price equal to 100.0% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest thereon, if the last reported sales price of the company's common stock has been at least 130.0% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the company provides written notice of redemption. The Indenture includes customary terms and covenants, including certain events of default after which the Convertible Notes may become due and payable immediately. Capped Call Transactions The Capped Call Transactions are expected generally to reduce the potential dilution and/or offset the cash payments the company is required to make in excess of the principal amount of the Convertible Notes upon conversion of the Convertible Notes in the event that the market price per share of the company's common stock is greater than the strike price of the Capped Call Transactions (which initially corresponds to the initial conversion price of the Convertible Notes and is subject to certain adjustments under the terms of the Capped Call Transactions), with such reduction and/or offset subject to a cap based on the cap price of the Capped Call Transactions. The Capped Call Transactions have an initial cap price of $207.93 per share of the company's common stock. The Capped Call Transactions cover, initially, the number of shares of the company's common stock underlying the Convertible Notes, subject to anti-dilution adjustments substantially similar to those applicable to the Convertible Notes. The Capped Call Transactions are separate transactions entered into by the company with the capped call counterparties, and are not part of the terms of the Convertible Notes and will not affect any holder's right under the Convertible Notes. Holders of the Convertible Notes will not have any rights with respect to the Capped Call Transactions. The Capped Call Transactions do not meet the criteria for separate accounting as a derivative as they are indexed to the company's stock. The premiums paid of the Capped Call Transactions have been included as a net reduction to additional paid-in capital with stockholders' equity.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 26, 2020
Notes To Financial Statements [Abstract]
Financial Instruments	Financial Instruments ASC 815 “Derivatives and Hedging” requires an entity to recognize all derivatives as either assets or liabilities and measure those instruments at fair value. Derivatives that do not qualify as a hedge must be adjusted to fair value in earnings. If a derivative does qualify as a hedge under ASC 815, changes in the fair value will either be offset against the change in the fair value of the hedged assets, liabilities or firm commitments or recognized in other accumulated comprehensive income until the hedged item is recognized in earnings. Foreign Exchange : The company uses foreign currency forward, foreign exchange swaps and option purchase and sales contracts to hedge its exposure to changes in foreign currency exchange rates. The company’s primary hedging activities are to mitigate its exposure to changes in exchange rates on intercompany and third party trade receivables and payables. The company does not currently enter into derivative financial instruments for speculative purposes. In managing its foreign currency exposures, the company identifies and aggregates naturally occurring offsetting positions and then hedges residual balance sheet exposures. The fair value of the forward and option contracts was a gain of $0.2 million at the end of the third quarter of 2020. Interest Rate: The company has entered into interest rate swaps to fix the interest rate applicable to certain of its variable-rate debt. The agreements swap one-month LIBOR for fixed rates. The company has designated these swaps as cash flow hedges and all changes in fair value of the swaps are recognized in accumulated other comprehensive income. As of September 26, 2020, the fair value of these instruments was a liability of $57.8 million. The change in fair value of these swap agreements in the first nine months of 2020 was a loss of $25.2 million, net of taxes. The following table summarizes the company’s fair value of interest rate swaps (in thousands): Condensed Consolidated Sep 26, 2020 Dec 28, 2019 Fair value Other assets $ — $ 1,830 Fair value Accrued expenses $ 15,282 $ — Fair value Other non-current liabilities $ 42,538 $ 25,120 The impact on earnings from interest rate swaps was as follows (in thousands): Three Months Ended Nine Months Ended Presentation of Gain/(loss) Sep 26, 2020 Sep 28, 2019 Sep 26, 2020 Sep 28, 2019 Gain/(loss) recognized in accumulated other comprehensive income Other comprehensive income $ (1,545) $ (7,114) $ (44,949) $ (37,090) Gain/(loss) reclassified from accumulated other comprehensive income (effective portion) Interest expense $ (5,158) $ 403 $ (10,419) $ 1,953 Interest rate swaps are subject to default risk to the extent the counterparties are unable to satisfy their settlement obligations under the interest rate swap agreements. The company reviews the credit profile of the financial institutions that are counterparties to such swap agreements and assesses their creditworthiness prior to entering into the interest rate swap agreements and throughout the term. The interest rate swap agreements typically contain provisions that allow the counterparty to require early settlement in the event that the company becomes insolvent or is unable to maintain compliance with its covenants under its existing debt agreements.

Segment Information

Segment Information	9 Months Ended
	Sep. 26, 2020
Notes To Financial Statements [Abstract]
Segment Information	Segment Information The company operates in three reportable operating segments defined by management reporting structure and operating activities. The Commercial Foodservice Equipment Group manufactures, sells, and distributes foodservice equipment for the restaurant and institutional kitchen industry. This business segment has manufacturing facilities in Arkansas, California, Illinois, Massachusetts, Michigan, New Hampshire, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Vermont, Washington, Australia, China, Denmark, Estonia, Italy, Mexico, the Philippines, Poland, Sweden and the United Kingdom. Principal product lines of this group include conveyor ovens, combi-ovens, convection ovens, baking ovens, proofing ovens, deck ovens, speed cooking ovens, hydrovection ovens, ranges, fryers, rethermalizers, steam cooking equipment, food warming equipment, catering equipment, heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, induction cooking equipment, countertop cooking equipment, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, coldrooms, ice machines, freezers, and soft serve ice cream, coffee, and beverage dispensing equipment. These products are sold and marketed under the brand names: Anets, APW Wyott, Bakers Pride, Beech, BKI, Blodgett, Blodgett Combi, Blodgett Range, Bloomfield, Britannia, CTX, Carter-Hoffmann, Celfrost, Concordia, CookTek, Crown, Desmon, Deutsche, Doyon, Eswood, EVO, Firex, Follett, Frifri, Giga, Globe, Goldstein, Holman, Houno, IMC, Induc, Jade, JoeTap, Josper, L2F, Lang, Lincat, MagiKitch’n, Market Forge, Marsal, Middleby Marshall, MPC, Nieco, Nu-Vu, PerfectFry, Pitco, QualServ, RAM, SiteSage, Southbend, Star, Sveba Dahlen, Ss Brewtech, Synesso, Taylor, Toastmaster, TurboChef, Ultrafryer, Varimixer, Wells and Wunder-Bar. The Food Processing Equipment Group manufactures preparation, cooking, packaging, food handling and food safety equipment for the food processing industry. This business segment has manufacturing operations in Georgia, Illinois, Iowa, North Carolina, Oklahoma, Pennsylvania, Texas, Virginia, Washington, Wisconsin, Denmark, France, Germany, India and the United Kingdom. Principal product lines of this group include batch ovens, baking ovens, proofing ovens, conveyor belt ovens, continuous processing ovens, frying systems and automated thermal processing systems, grinders, slicers, reduction and emulsion systems, mixers, blenders, battering equipment, breading equipment, seeding equipment, water cutting systems, food presses, food suspension equipment, filling and depositing solutions, forming equipment, automated loading and unloading systems, food safety, food handling, freezing, defrosting and packaging equipment. These products are sold and marketed under the brand names: Alkar, Armor Inox, Auto-Bake, Baker Thermal Solutions, Burford, Cozzini, CVP Systems, Danfotech, Drake, Emico, Glimek, Hinds-Bock, Maurer-Atmos, MP Equipment, M-TEK, Pacpro, RapidPak, Scanico, Spooner Vicars, Stewart Systems, Thurne and Ve.Ma.C. The Residential Kitchen Equipment Group manufactures, sells and distributes kitchen equipment for the residential market. This business segment has manufacturing facilities in California, Michigan, Mississippi, Oregon, Wisconsin, France, Ireland, Romania and the United Kingdom. Principal product lines of this group are ranges, cookers, stoves, ovens, refrigerators, dishwashers, microwaves, cooktops, wine coolers, ice machines, ventilation equipment and outdoor equipment. These products are sold and marketed under the brand names: AGA, AGA Cookshop, Brava, Brigade, EVO, Fired Earth, Heartland, La Cornue, Leisure Sinks, Lynx, Marvel, Mercury, Rangemaster, Rayburn, Redfyre, Sedona, Stanley, TurboChef, U-Line and Viking. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The chief operating decision maker evaluates individual segment performance based on operating income. Net Sales Summary (dollars in thousands) Three Months Ended Nine Months Ended Sep 26, 2020 Sep 28, 2019 Sep 26, 2020 Sep 28, 2019 Sales Percent Sales Percent Sales Percent Sales Percent Business Segments: Commercial Foodservice $ 371,223 58.5 % $ 500,990 69.2 % $ 1,081,847 60.6 % $ 1,471,800 67.8 % Food Processing 110,648 17.4 89,147 12.3 316,477 17.7 279,474 12.9 Residential Kitchen 152,654 24.1 133,877 18.5 385,637 21.7 420,546 19.3 Total $ 634,525 100.0 % $ 724,014 100.0 % $ 1,783,961 100.0 % $ 2,171,820 100.0 % The following table summarizes the results of operations for the company's business segments (in thousands): Commercial Food Processing Residential Kitchen Corporate and Other (1) Total Three Months Ended September 26, 2020 Net sales $ 371,223 $ 110,648 $ 152,654 $ — $ 634,525 Income (loss) from operations (2)(3) 57,483 22,860 22,626 (16,297) 86,672 Depreciation expense 5,360 1,480 2,965 — 9,805 Amortization expense (4) 12,923 1,794 2,170 692 17,579 Net capital expenditures 5,279 692 794 299 7,064 Nine Months Ended September 26, 2020 Net sales $ 1,081,847 $ 316,477 $ 385,637 $ — $ 1,783,961 Income (loss) from operations (2)(3) 173,064 57,801 41,860 (41,521) 231,204 Depreciation expense 15,567 4,179 8,742 15 28,503 Amortization expense (4) 38,257 5,494 7,627 1,713 53,091 Net capital expenditures 12,771 3,115 4,089 420 20,395 Total assets $ 3,155,360 $ 628,156 $ 1,149,550 $ 87,118 $ 5,020,184 Three Months Ended September 28, 2019 Net sales $ 500,990 $ 89,147 $ 133,877 $ — $ 724,014 Income (loss) from operations (2)(3) 105,099 13,349 17,850 (14,953) 121,345 Depreciation expense 5,413 1,158 2,897 8 9,476 Amortization expense (4) 12,230 2,616 2,413 402 17,661 Net capital expenditures 5,852 3,212 3,125 — 12,189 Nine Months Ended September 28, 2019 Net sales $ 1,471,800 $ 279,474 $ 420,546 $ — $ 2,171,820 Income (loss) from operations (2)(3) 313,482 44,477 57,220 (53,166) 362,013 Depreciation expense 15,714 3,498 8,697 105 28,014 Amortization expense (4) 34,519 6,223 7,308 1,208 49,258 Net capital expenditures 19,065 5,289 7,061 2,404 33,819 Total assets $ 3,162,315 $ 606,186 $ 1,129,935 $ 30,092 $ 4,928,528 (1) Includes corporate and other general company assets and operations. (2) Non-operating expenses are not allocated to the operating segments. Non-operating expenses consist of interest expense and deferred financing amortization, foreign exchange gains and losses and other income and expense items outside of income from operations. (3) Restructuring expenses are allocated in operating income by segment. See note 16 for further details. (4) Includes amortization of deferred financing costs. Geographic Information Long-lived assets, not including goodwill and other intangibles (in thousands): Sep 26, 2020 Sep 28, 2019 United States and Canada $ 321,159 $ 309,117 Asia 22,857 21,668 Europe and Middle East 152,914 139,486 Latin America 6,111 8,030 Total international $ 181,882 $ 169,184 $ 503,041 $ 478,301

Employee Retirement Plans

Employee Retirement Plans	9 Months Ended
	Sep. 26, 2020
Employee Retirement Plans [Abstract]
Employee Retirement Plans	Employee Retirement Plans (a) Pension Plans U.S. Plans: The company maintains a non-contributory defined benefit plan for its union employees at the Elgin, Illinois facility. Benefits are determined based upon retirement age and years of service with the company. This defined benefit plan was frozen on April 30, 2002, and no further benefits accrue to the participants beyond this date. Plan participants will receive or continue to receive payments for benefits earned on or prior to April 30, 2002 upon reaching retirement age. The company maintains a non-contributory defined benefit plan for its employees at the Smithville, Tennessee facility. Benefits are determined based upon retirement age and years of service with the company. This defined benefit plan was frozen on April 1, 2008, and no further benefits accrue to the participants beyond this date. Plan participants will receive or continue to receive payments for benefits earned on or prior to April 1, 2008 upon reaching retirement age. The company also maintains a retirement benefit agreement with its former Chairman ("Chairman Plan"). The retirement benefits are based upon a percentage of the former Chairman’s final base salary. Non-U.S. Plans: The company maintains a defined benefit plan for its employees at the Wrexham, the United Kingdom facility. Benefits are determined based upon retirement age and years of service with the company. This defined benefit plan was frozen on April 30, 2010 prior to Middleby’s acquisition of the company. No further benefits accrue to the participants beyond this date. Plan participants will receive or continue to receive payments for benefits earned on or prior to April 30, 2010 upon reaching retirement age. The company maintains several pension plans related to AGA and its subsidiaries (collectively, the "AGA Group"), the most significant being the Aga Rangemaster Group Pension Scheme in the United Kingdom. Membership in the plan on a defined benefit basis of pension provision was closed to new entrants in 2001.The plan became open to new entrants on a defined contribution basis of pension provision in 2002, but was generally closed to new entrants on this basis during 2014. The other, much smaller, defined benefit pension plans operating within the AGA Group cover employees in France and the United Kingdom. All pension plan assets are held in separate trust funds although the net defined benefit pension obligations are included in the company's consolidated balance sheet. The following table summarizes the company's net periodic pension benefit related to the AGA Group pension plans (in thousands): Three Months Ended Nine Months Ended Sep 26, 2020 Sep 28, 2019 Sep 26, 2020 Sep 28, 2019 Net Periodic Pension Benefit: Service cost $ 649 $ 593 $ 1,918 $ 1,839 Interest cost 6,456 7,995 19,086 24,776 Expected return on assets (18,089) (16,118) (53,476) (49,948) Amortization of net loss (gain) 842 149 2,489 462 Amortization of prior service cost (credit) 642 614 1,897 1,904 Curtailment loss (gain) — 185 — 573 $ (9,500) $ (6,582) $ (28,086) $ (20,394) The pension costs for all other plans of the company were not material during the period. The service cost component is recognized within Selling, general and administrative expenses and the non-operating components of pension benefit are included within Net periodic pension benefit (other than service cost) in the Condensed Consolidated Statements of Comprehensive Income. (b) Defined Contribution Plans The company maintains two separate defined contribution savings plans covering all employees in the United States. These two plans separately cover the union employees at the Elgin, Illinois facility and all other remaining union and non-union employees in the United States. The company also maintains defined contribution plans for its United Kingdom based employees.

Restructuring (Notes)

Restructuring (Notes)	9 Months Ended
	Sep. 26, 2020
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure	Restructuring During fiscal 2019, the company undertook cost reduction initiatives related to the Commercial Foodservice Equipment Group including headcount reductions and facility consolidations. These actions resulted in an additional charge of $0.5 million in the three months ended March 28, 2020. There were no additional expenses incurred in 2020 with respect to such cost reduction initiatives taken during fiscal 2019. These expenses are reflected in restructuring expenses in the Condensed Consolidated Statements of Comprehensive Income. At September 26, 2020, the restructuring obligations for these initiatives were completed with no future expenses expected. During the second and third quarter of fiscal 2020, due to the COVID-19 pandemic, the company began cost reduction initiatives primarily related to headcount reductions and facility consolidations within the Commercial Foodservice Equipment Group. These actions resulted in a charge of $7.0 million and $8.6 million, in the three and nine months ended September 26, 2020, respectively. These expenses are reflected in restructuring expenses in the Condensed Consolidated Statements of Comprehensive Income. The company estimates that these restructuring initiatives will result in future cost savings of approximately $20.0 million annually. At September 26, 2020, the restructuring obligations accrued for these initiatives is $5.4 million and should substantially be completed by the end of fiscal 2020. The restructuring expenses for the other segments of the company were not material during the period.

Share Repurchases (Notes)

Share Repurchases (Notes)	9 Months Ended
	Sep. 26, 2020
Text Block [Abstract]
Treasury Stock [Text Block]	Share Repurchases    On November 7, 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 purchase transactions. For the nine months ended September 26, 2020, the company repurchased 896,965 shares of its common stock under the program for $69.7 million, including applicable commissions, which represented an average price of $77.70. As of September 26, 2020, 1,023,165 shares had been purchased under the 2017 stock repurchase program. 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. For the nine months ended September 26, 2020, the company repurchased 108,473 shares of its common stock that were surrendered to the company for withholding taxes related to restricted stock vestings for $7.5 million.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 26, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements have been prepared by The Middleby Corporation (the "company" or “Middleby”), pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The financial statements are unaudited and certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although the company believes that the disclosures are adequate to make the information not misleading. These financial statements should be read in conjunction with the financial statements and related notes contained in the company's 2019 Form 10-K. The company’s interim results are not necessarily indicative of future full year results for the fiscal year 2020. In the opinion of management, the financial statements contain all adjustments, which are normal and recurring in nature, necessary to present fairly the financial position of the company as of September 26, 2020 and December 28, 2019, the results of operations for the three and nine months ended September 26, 2020 and September 28, 2019, cash flows for the nine months ended September 26, 2020 and September 28, 2019 and statement of stockholders' equity for the three and nine months ended September 26, 2020 and September 28, 2019.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses. Significant estimates and assumptions are used for, but are not limited to, allowances for doubtful accounts, reserves for excess and obsolete inventories, long-lived and intangible assets, warranty reserves, insurance reserves, income tax reserves, non-cash share-based compensation and post-retirement obligations. Actual results could differ from the company's estimates.
Non-Cash Share-Based Compensation	Non-Cash Share-Based CompensationThe company estimates the fair value of market-based stock awards and stock options at the time of grant and recognizes compensation cost over the vesting period of the awards and options.
Income Tax Contingencies	Income Taxes A tax provision of $18.2 million, at an effective rate of 23.1% was recorded during the three months period ended September 26, 2020, as compared to a $24.2 million tax provision at an effective rate of 22.8% in the prior year period. A tax provision of $46.5 million, at an effective rate of 23.0%, was recorded during the nine months period ended September 26, 2020, as compared to a $78.2 million tax provision at a 24.3% effective rate in the prior year period. The effective tax rates in 2020 and 2019 are higher than the federal tax rate of 21% primarily due to state taxes. The effective tax rate for the nine months period ended September 26, 2020 is lower than the comparable prior year rate primarily due to a reduction in non-deductible costs.
Fair Value Measures	Fair Value Measures Accounting Standards Codification ("ASC") 820 "Fair Value Measurements and Disclosures" defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 establishes a fair value hierarchy, which prioritizes the inputs used in measuring fair value into the following levels: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Inputs, other than quoted prices in active markets, that are observable either directly or indirectly. Level 3 – Unobservable inputs based the company's own assumptions.

Revenue Recognition Revenue R_2

Revenue Recognition Revenue Recognition (Policies)	9 Months Ended
	Sep. 26, 2020
Revenue Recognition [Abstract]
Revenue [Policy Text Block]	disaggregates its net sales by reportable operating segment and geographical location as the company believes it best depicts how the nature, timing and uncertainty of its net sales and cash flows are affected by economic factors. In general, the Commercial Foodservice Equipment and Residential Foodservice Equipment Groups recognize revenue at the point in time control transfers to their customers based on contractual shipping terms. Revenue from equipment sold under the company's long-term contracts within the Food Processing Equipment group is recognized over time as the equipment is manufactured and assembled.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 26, 2020
Accounting Policies [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The company’s financial assets and liabilities that are measured at fair value and are categorized using the fair value hierarchy are as follows (in thousands): Fair Value Fair Value Fair Value Total As of September 26, 2020 Financial Liabilities: Interest rate swaps $ — $ 57,820 $ — $ 57,820 Contingent consideration $ — $ — $ 10,542 $ 10,542 Foreign exchange derivative contracts — 171 — $ 171 As of December 28, 2019 Financial Assets: Interest rate swaps $ — $ 1,830 $ — $ 1,830 Financial Liabilities: Interest rate swaps $ — $ 25,120 $ — $ 25,120 Contingent consideration $ — $ — $ 6,697 $ 6,697 Foreign exchange derivative contracts $ — $ 901 $ — $ 901

Acquisitions and Purchase Acc_2

Acquisitions and Purchase Accounting Acquisition and Purchase Accounting (Tables)	9 Months Ended
	Sep. 26, 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): Nine Months Ended September 26, 2020 September 28, 2019 Net sales $ 1,786,481 $ 2,262,959 Net earnings 158,115 231,068 Net earnings per share: Basic $ 2.87 $ 4.15 Diluted $ 2.87 $ 4.15
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 Measurement (as adjusted) 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 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 (11,213) 88,625 Other intangibles 64,019 11,363 75,382 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) (4,129) (10,299) Consideration paid at closing $ 171,803 $ (1,205) $ 170,598 Deferred payments 2,404 — 2,404 Contingent consideration 4,258 3,600 7,858 Net assets acquired and liabilities assumed $ 178,465 $ 2,395 $ 180,860
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 Preliminary Measurement Adjusted Opening Balance Sheet Cash $ 2,347 $ — $ 2,347 Current assets 31,089 (12,908) 18,181 Property, plant and equipment 1,032 (241) 791 Goodwill 12,776 672 13,448 Other intangibles 16,484 — 16,484 Other assets 1,708 — 1,708 Current liabilities (30,005) 12,477 (17,528) 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

Revenue Recognition Revenue R_3

Revenue Recognition Revenue Recognition (Tables)	9 Months Ended
	Sep. 26, 2020
Revenue Recognition [Abstract]
Disaggregation of Revenue [Table Text Block]	Disaggregation of Revenue The company disaggregates its net sales by reportable operating segment and geographical location as the company believes it best depicts how the nature, timing and uncertainty of its net sales and cash flows are affected by economic factors. In general, the Commercial Foodservice Equipment and Residential Foodservice Equipment Groups recognize revenue at the point in time control transfers to their customers based on contractual shipping terms. Revenue from equipment sold under the company's long-term contracts within the Food Processing Equipment group is recognized over time as the equipment is manufactured and assembled. The following table summarizes the company's net sales by reportable operating segment and geographical location (in thousands): Commercial Food Processing Residential Kitchen Total Three Months Ended September 26, 2020 United States and Canada $ 265,793 $ 82,126 $ 97,318 $ 445,237 Asia 39,864 4,711 1,875 46,450 Europe and Middle East 60,603 18,600 52,216 131,419 Latin America 4,963 5,211 1,245 11,419 Total $ 371,223 $ 110,648 $ 152,654 $ 634,525 Nine Months Ended September 26, 2020 United States and Canada $ 768,202 $ 227,770 $ 264,116 $ 1,260,088 Asia 104,936 18,460 3,753 127,149 Europe and Middle East 180,187 57,051 117,187 354,425 Latin America 28,522 13,196 581 42,299 Total $ 1,081,847 $ 316,477 $ 385,637 $ 1,783,961 Three Months Ended September 28, 2019 United States and Canada $ 346,616 $ 57,255 $ 86,859 $ 490,730 Asia 53,463 5,100 1,490 60,053 Europe and Middle East 82,244 21,125 44,395 147,764 Latin America 18,667 5,667 1,133 25,467 Total $ 500,990 $ 89,147 $ 133,877 $ 724,014 Nine Months Ended September 28, 2019 United States and Canada $ 1,004,609 $ 172,944 $ 270,689 $ 1,448,242 Asia 153,787 21,836 4,355 179,978 Europe and Middle East 258,102 67,624 142,016 467,742 Latin America 55,302 17,070 3,486 75,858 Total $ 1,471,800 $ 279,474 $ 420,546 $ 2,171,820
Contract with Customer, Asset and Liability [Table Text Block]	The following table provides information about contract assets and contract liabilities from contracts with customers (in thousands): Sep 26, 2020 Dec 28, 2019 Contract assets $ 21,345 $ 22,675 Contract liabilities $ 86,103 $ 74,511 Non-current contract liabilities $ 12,488 $ 12,870

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 26, 2020
Disclosure Other Comprehensive Income Additional Information [Abstract]
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]	Changes in accumulated other comprehensive income (1) were as follows (in thousands): Currency Translation Adjustment Pension Benefit Costs Unrealized Gain/(Loss) Interest Rate Swap Total Balance as of December 28, 2019 $ (105,705) $ (228,336) $ (16,892) $ (350,933) Other comprehensive income before reclassification (3,213) 6,184 (35,646) (32,675) Amounts reclassified from accumulated other comprehensive income — — 10,419 10,419 Net current-period other comprehensive income $ (3,213) $ 6,184 $ (25,227) $ (22,256) Balance as of September 26, 2020 $ (108,918) $ (222,152) $ (42,119) $ (373,189) Balance as of December 29, 2018 $ (112,771) $ (170,938) $ 7,233 $ (276,476) Adoption of ASU 2017-12 (2) — — 11 11 Other comprehensive income before reclassification (27,190) 4,966 (27,201) (49,425) Amounts reclassified from accumulated other comprehensive income — — (1,953) (1,953) Net current-period other comprehensive income $ (27,190) $ 4,966 $ (29,143) $ (51,367) Balance as of September 28, 2019 $ (139,961) $ (165,972) $ (21,910) $ (327,843)
Schedule of Comprehensive Income (Loss)	Components of other comprehensive income were as follows (in thousands): Three Months Ended Nine Months Ended Sep 26, 2020 Sep 28, 2019 Sep 26, 2020 Sep 28, 2019 Net earnings $ 60,516 $ 82,020 $ 155,457 $ 243,243 Currency translation adjustment 25,851 (25,428) (3,213) (27,190) Pension liability adjustment, net of tax (6,133) 4,975 6,184 4,966 Unrealized gain (loss) on interest rate swaps, net of tax 2,653 (5,652) (25,227) (29,143) Comprehensive income $ 82,887 $ 55,915 $ 133,201 $ 191,876

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 26, 2020
Notes To Financial Statements [Abstract]
Schedule of Inventory, Current	Inventories at September 26, 2020 and December 28, 2019 are as follows (in thousands): Sep 26, 2020 Dec 28, 2019 Raw materials and parts $ 274,769 $ 277,394 Work-in-process 59,496 58,663 Finished goods 223,247 249,642 $ 557,512 $ 585,699

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 26, 2020
Notes To Financial Statements [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill for the nine months ended September 26, 2020 are as follows (in thousands): Commercial Food Residential Kitchen Total Balance as of December 28, 2019 $ 1,153,552 $ 257,679 $ 438,516 $ 1,849,747 Goodwill acquired during the year 13,448 — — 13,448 Measurement period adjustments to (55) (8,732) 1,673 (7,114) Exchange effect 3,571 2,706 (6,997) (720) Balance as of September 26, 2020 $ 1,170,516 $ 251,653 $ 433,192 $ 1,855,361 The company continues to monitor the global outbreak of the COVID-19 pandemic to assess the outlook for demand of its products and the impact on its business and financial performance. The potential impact of the COVID-19 pandemic on demand, production levels, and its operating results in the short-term is uncertain, but the company remains committed to the strategic actions necessary to realize long-term revenue and cash flow growth rates. The potential negative demand effect on revenues is also uncertain given the volatile environment, but demand and production levels are anticipated to recover. As a result of the company's analysis, and in consideration of the totality of events and circumstances, there were no triggering events requiring an interim goodwill impairment assessment identified during the nine months period ended September 26, 2020. Additionally, for the assessment of indefinite-life intangible assets other than goodwill, primarily trademarks and trade names, the company identified several trademarks and trade names with indicators of potential risk for impairment and performed quantitative assessments. The fair values of the trademarks tested exceeded their carrying values by more than 10%. As a result, no impairment charges for goodwill and indefinite-lived intangible assets were recorded during the nine months period ended September 26, 2020.

Intangibles (Tables)

Intangibles (Tables)	9 Months Ended
	Sep. 26, 2020
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]	Intangible assets consist of the following (in thousands): September 26, 2020 December 28, 2019 Estimated Gross Accumulated Estimated Gross Accumulated Amortized intangible assets: Customer lists 8.7 $ 726,631 $ (331,670) 9.2 $ 717,397 $ (283,846) Backlog 0.5 31,336 (30,389) 1.3 29,426 (28,283) Developed technology 7.3 36,351 (23,678) 5.2 32,999 (21,378) $ 794,318 $ (385,737) $ 779,822 $ (333,507) Indefinite-lived assets: Trademarks and tradenames $ 1,012,019 $ 997,066
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	The estimated future amortization expense of intangible assets is as follows (in thousands): Twelve Month Period coinciding with the end of the company's Fiscal Third Quarter Amortization Expense 2021 $ 64,119 2022 60,564 2023 54,096 2024 45,053 2025 35,892 Thereafter 148,857 $ 408,581

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 26, 2020
Disclosure Accrued Expenses [Abstract]
Schedule of Accrued Liabilities	Accrued expenses consist of the following (in thousands): Sep 26, 2020 Dec 28, 2019 Contract liabilities $ 86,103 $ 74,511 Accrued payroll and related expenses 71,526 80,621 Accrued warranty 67,714 66,374 Accrued customer rebates 33,418 51,709 Accrued sales and other tax 23,438 19,862 Accrued short-term leases 23,297 21,827 Accrued interest rate swaps 15,282 — Accrued product liability and workers compensation 13,134 15,164 Accrued professional fees 12,291 13,368 Accrued agent commission 10,562 13,816 Accrued restructuring 5,818 1,121 Other accrued expenses 58,997 58,177 $ 421,580 $ 416,550

Warranty Costs (Tables)

Warranty Costs (Tables)	9 Months Ended
	Sep. 26, 2020
Notes To Financial Statements [Abstract]
Product Warranty Table Disclosure	A rollforward of the warranty reserve is as follows (in thousands): Nine Months Ended Sep 26, 2020 Balance as of December 28, 2019 $ 66,374 Warranty reserve related to acquisitions 1,335 Warranty expense 42,480 Warranty claims (42,475) Balance as of September 26, 2020 $ 67,714

Financing Arrangements (Tables)

Financing Arrangements (Tables)	9 Months Ended
	Sep. 26, 2020
Notes To Financial Statements [Abstract]
Schedule of Long-term Debt Instruments	Sep 26, 2020 Dec 28, 2019 (in thousands) Senior secured revolving credit line $ 854,758 $ 1,869,402 Term loan facility 345,312 — Convertible senior notes 627,006 — Foreign loans 4,967 3,622 Other debt arrangement 82 116 Total debt 1,832,125 1,873,140 Less: Current maturities of long-term debt 23,152 2,894 Long-term debt 1,808,973 1,870,246
Carrying Value And Fair Value Of Long Term Debt, Disclosure	The carrying value and estimated aggregate fair value, a level 2 measurement, based primarily on market prices, of debt excluding the Convertible Notes is as follows (in thousands): Sep 26, 2020 Dec 28, 2019 Carrying Value Fair Value Carrying Value Fair Value Total debt excluding convertible senior notes $ 1,205,119 $ 1,205,119 $ 1,873,140 $ 1,873,140
Convertible Debt	The following table summarizes the outstanding principal amount and carrying value of the Convertible Notes: Sep 26, 2020 (in thousands) Principal amounts: Principal $ 747,500 Unamortized debt discount (120,494) Net carrying amount $ 627,006
Schedule of Debt Instruments, Interest Expense	The following table summarizes total interest expense recognized related to the Convertible Notes: Nine Months Ended Sep 26, 2020 Contractual interest expense $ 726 Interest cost related to amortization of the debt discount and issuance costs 2,130 Total interest expense $ 2,856

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 26, 2020
Notes To Financial Statements [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table summarizes the company’s fair value of interest rate swaps (in thousands): Condensed Consolidated Sep 26, 2020 Dec 28, 2019 Fair value Other assets $ — $ 1,830 Fair value Accrued expenses $ 15,282 $ — Fair value Other non-current liabilities $ 42,538 $ 25,120
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The impact on earnings from interest rate swaps was as follows (in thousands): Three Months Ended Nine Months Ended Presentation of Gain/(loss) Sep 26, 2020 Sep 28, 2019 Sep 26, 2020 Sep 28, 2019 Gain/(loss) recognized in accumulated other comprehensive income Other comprehensive income $ (1,545) $ (7,114) $ (44,949) $ (37,090) Gain/(loss) reclassified from accumulated other comprehensive income (effective portion) Interest expense $ (5,158) $ 403 $ (10,419) $ 1,953

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 26, 2020
Notes To Financial Statements [Abstract]
Net Sales Summary By Segment	Net Sales Summary (dollars in thousands) Three Months Ended Nine Months Ended Sep 26, 2020 Sep 28, 2019 Sep 26, 2020 Sep 28, 2019 Sales Percent Sales Percent Sales Percent Sales Percent Business Segments: Commercial Foodservice $ 371,223 58.5 % $ 500,990 69.2 % $ 1,081,847 60.6 % $ 1,471,800 67.8 % Food Processing 110,648 17.4 89,147 12.3 316,477 17.7 279,474 12.9 Residential Kitchen 152,654 24.1 133,877 18.5 385,637 21.7 420,546 19.3 Total $ 634,525 100.0 % $ 724,014 100.0 % $ 1,783,961 100.0 % $ 2,171,820 100.0 %
Schedule of Segment Reporting Information, by Segment	The following table summarizes the results of operations for the company's business segments (in thousands): Commercial Food Processing Residential Kitchen Corporate and Other (1) Total Three Months Ended September 26, 2020 Net sales $ 371,223 $ 110,648 $ 152,654 $ — $ 634,525 Income (loss) from operations (2)(3) 57,483 22,860 22,626 (16,297) 86,672 Depreciation expense 5,360 1,480 2,965 — 9,805 Amortization expense (4) 12,923 1,794 2,170 692 17,579 Net capital expenditures 5,279 692 794 299 7,064 Nine Months Ended September 26, 2020 Net sales $ 1,081,847 $ 316,477 $ 385,637 $ — $ 1,783,961 Income (loss) from operations (2)(3) 173,064 57,801 41,860 (41,521) 231,204 Depreciation expense 15,567 4,179 8,742 15 28,503 Amortization expense (4) 38,257 5,494 7,627 1,713 53,091 Net capital expenditures 12,771 3,115 4,089 420 20,395 Total assets $ 3,155,360 $ 628,156 $ 1,149,550 $ 87,118 $ 5,020,184 Three Months Ended September 28, 2019 Net sales $ 500,990 $ 89,147 $ 133,877 $ — $ 724,014 Income (loss) from operations (2)(3) 105,099 13,349 17,850 (14,953) 121,345 Depreciation expense 5,413 1,158 2,897 8 9,476 Amortization expense (4) 12,230 2,616 2,413 402 17,661 Net capital expenditures 5,852 3,212 3,125 — 12,189 Nine Months Ended September 28, 2019 Net sales $ 1,471,800 $ 279,474 $ 420,546 $ — $ 2,171,820 Income (loss) from operations (2)(3) 313,482 44,477 57,220 (53,166) 362,013 Depreciation expense 15,714 3,498 8,697 105 28,014 Amortization expense (4) 34,519 6,223 7,308 1,208 49,258 Net capital expenditures 19,065 5,289 7,061 2,404 33,819 Total assets $ 3,162,315 $ 606,186 $ 1,129,935 $ 30,092 $ 4,928,528 (1) Includes corporate and other general company assets and operations. (2) Non-operating expenses are not allocated to the operating segments. Non-operating expenses consist of interest expense and deferred financing amortization, foreign exchange gains and losses and other income and expense items outside of income from operations.
Schedule of Entity-Wide Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country	Long-lived assets, not including goodwill and other intangibles (in thousands): Sep 26, 2020 Sep 28, 2019 United States and Canada $ 321,159 $ 309,117 Asia 22,857 21,668 Europe and Middle East 152,914 139,486 Latin America 6,111 8,030 Total international $ 181,882 $ 169,184 $ 503,041 $ 478,301

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	9 Months Ended
	Sep. 26, 2020
Employee Retirement Plans [Abstract]
Schedule of Costs of Retirement Plans [Table Text Block]	The following table summarizes the company's net periodic pension benefit related to the AGA Group pension plans (in thousands): Three Months Ended Nine Months Ended Sep 26, 2020 Sep 28, 2019 Sep 26, 2020 Sep 28, 2019 Net Periodic Pension Benefit: Service cost $ 649 $ 593 $ 1,918 $ 1,839 Interest cost 6,456 7,995 19,086 24,776 Expected return on assets (18,089) (16,118) (53,476) (49,948) Amortization of net loss (gain) 842 149 2,489 462 Amortization of prior service cost (credit) 642 614 1,897 1,904 Curtailment loss (gain) — 185 — 573 $ (9,500) $ (6,582) $ (28,086) $ (20,394)

Summary of Significant Accoun_4

Summary of Significant Accounting Policies Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Accounting Policies [Abstract]
Non-cash share-based compensation expense	$ 5,300	$ 2,000	$ 14,422	$ 3,257
Provision for income taxes	$ 18,181	$ 24,210	$ 46,456	$ 78,158
Effective Income Tax Rate Reconciliation, Percent	23.10%	22.80%	23.00%	24.30%
Interest paid			$ 51,100	$ 61,700
Income tax payments			$ 28,000	$ 65,700

Financial Assets and Liabilitie

Financial Assets and Liabilities that are Measured At Fair Value and are Categorized Using Fair Value Hierarchy (Detail) - Fair Value, Measurements, Recurring - USD ($)	Sep. 26, 2020	Dec. 28, 2019
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Assets		$ 1,830,000
Financial Liabilities	$ 57,820,000	25,120,000
Contingent Consideration
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Liabilities	10,542,000	6,697,000
Foreign Exchange Forward
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Liabilities	171,000	901,000
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Assets		0
Financial Liabilities	0	0
Fair Value, Inputs, Level 1 [Member] | Contingent Consideration
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Liabilities	0	0
Fair Value, Inputs, Level 1 [Member] | Foreign Exchange Forward
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Liabilities	0	0
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Assets		1,830,000
Financial Liabilities	57,820,000	25,120,000
Fair Value, Inputs, Level 2 [Member] | Contingent Consideration
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Liabilities	0	0
Fair Value, Inputs, Level 2 [Member] | Foreign Exchange Forward
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Liabilities	171,000	901,000
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Assets		0
Financial Liabilities	0	0
Fair Value, Inputs, Level 3 [Member] | Contingent Consideration
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Liabilities	10,542,000	6,697,000
Fair Value, Inputs, Level 3 [Member] | Foreign Exchange Forward
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Financial Liabilities	$ 0	$ 0

Acquisitions and Purchase Acc_3

Acquisitions and Purchase Accounting Estimated Fair Values of Assets Acquired and Liabilities Assumed - Cooking Solutions Group (Details) - USD ($) $ in Thousands	Apr. 01, 2019	Sep. 26, 2020	Sep. 28, 2019	Dec. 28, 2019
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		$ 33,144	$ 238,974
Goodwill		1,855,361		$ 1,849,747
Cooking Solutions Group
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 106,100
Business Combination, Provisional Information Adjustment, Working Capital	100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	843
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	32,041
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	15,901
Goodwill	37,537
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	47,600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	1,470
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(16,713)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	(10,529)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(1,163)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	11,600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	106,987
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	1,100
Cooking Solutions Group | Initial accounting
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	843
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	33,666
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	15,959
Goodwill	31,207
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	53,450
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(15,130)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	(13,082)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	106,913
Cooking Solutions Group | Measurement period adjustment
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	(1,625)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	(58)
Goodwill	6,330
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	(5,850)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	1,470
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(1,583)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Net	2,553
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(1,163)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	74
Commercial Foodservice Equipment Group
Business Acquisition [Line Items]
Goodwill		$ 1,170,516		$ 1,153,552
Trade Names | Commercial Foodservice Equipment Group | Cooking Solutions Group
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	24,700
Customer Relationships | Commercial Foodservice Equipment Group | Cooking Solutions Group
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 22,500
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	9 years
Backlog | Commercial Foodservice Equipment Group | Cooking Solutions Group
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 400
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 months

Acquisitions and Purchase Acc_4

Acquisitions and Purchase Accounting Estimated Fair Values of Assets Acquired and Liabilities Assumed - 2019 Acquisitions (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 26, 2020	Dec. 28, 2019
Business Acquisition [Line Items]
Goodwill	$ 1,855,361	$ 1,849,747
Commercial Foodservice Equipment Group
Business Acquisition [Line Items]
Goodwill	1,170,516	1,153,552
Food Processing Group
Business Acquisition [Line Items]
Goodwill	251,653	257,679
Residential Kitchen
Business Acquisition [Line Items]
Goodwill	433,192	$ 438,516
2019 Acquisitions
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	2,673
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	22,541
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	8,754
Goodwill	88,625
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	75,382
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	2,716
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	991
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(20,785)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(10,299)
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Initial Consideration, Net	170,598
Business Combination, Deferred Payments, Liability	2,404
Business Combination, Contingent Consideration, Liability	7,858
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	180,860
Business Combinations, Deferred Tax Assets, Operating Loss Carryforwards	2,900
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	1,000
Deferred Tax Assets, Tax Deferred Expense, Other	800
Business Acquisition, Goodwill, Expected Tax Deductible Amount	77,800
Business Combination, Intangible Assets, Other than Goodwill, Expected Tax Deductible Amount	64,800
2019 Acquisitions | Initial accounting
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	2,683
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	21,525
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	8,920
Goodwill	99,838
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	64,019
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	1,288
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	137
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(20,437)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(6,170)
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Initial Consideration, Net	171,803
Business Combination, Deferred Payments, Liability	2,404
Business Combination, Contingent Consideration, Liability	4,258
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	178,465
2019 Acquisitions | Measurement period adjustment
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	(10)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	1,016
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	(166)
Goodwill	(11,213)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	11,363
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets	1,428
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	854
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(348)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(4,129)
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Initial Consideration, Net	(1,205)
Business Combination, Deferred Payments, Liability	0
Business Combination, Contingent Consideration, Liability	3,600
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	2,395
2019 Acquisitions | Commercial Foodservice Equipment Group
Business Acquisition [Line Items]
Goodwill	42,600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	35,500
2019 Acquisitions | Food Processing Group
Business Acquisition [Line Items]
Goodwill	34,900
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	30,100
2019 Acquisitions | Residential Kitchen
Business Acquisition [Line Items]
Goodwill	11,200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	9,800
Tradenames And Trademarks | 2019 Acquisitions
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	33,800
Customer Relationships | 2019 Acquisitions
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 27,900
Customer Relationships | 2019 Acquisitions | Minimum
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	5 years
Customer Relationships | 2019 Acquisitions | Maximum
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years
Developed Technology Rights | 2019 Acquisitions
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 12,300
Developed Technology Rights | 2019 Acquisitions | Minimum
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	5 years
Developed Technology Rights | 2019 Acquisitions | Maximum
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	12 years
Backlog | 2019 Acquisitions
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 1,400
Backlog | 2019 Acquisitions | Minimum
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 months

Acquisitions and Purchase Acc_5

Acquisitions and Purchase Accounting Estimated Fair Values of Assets Acquired and Liabilities Assumed - 2020 Acquisitions (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 26, 2020	Dec. 28, 2019
Business Acquisition [Line Items]
Goodwill	$ 1,855,361	$ 1,849,747
2020 Acquisitions
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	2,347
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	18,181
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	791
Goodwill	13,448
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	16,484
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	1,708
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(17,528)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(3,070)
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Initial Consideration, Net	32,361
Business Combination, Deferred Payments, Liability	1,250
Business Combination, Contingent Consideration, Liability	1,774
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	35,385
2020 Acquisitions | Initial accounting
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	2,347
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	31,089
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	1,032
Goodwill	12,776
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	16,484
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	1,708
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(30,005)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(3,070)
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Initial Consideration, Net	32,361
Business Combination, Deferred Payments, Liability	1,250
Business Combination, Contingent Consideration, Liability	1,774
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	35,385
2020 Acquisitions | Measurement period adjustment
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets	(12,908)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	(241)
Goodwill	672
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	12,477
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	0
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Initial Consideration, Net	0
Business Combination, Deferred Payments, Liability	0
Business Combination, Contingent Consideration, Liability	0
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net	0
Tradenames And Trademarks | 2020 Acquisitions
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	9,000
Customer Relationships | 2020 Acquisitions
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	5,300
Developed Technology Rights | 2020 Acquisitions
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	200
Backlog | 2020 Acquisitions
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 2,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	9 months
Maximum | Customer Relationships | 2020 Acquisitions
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	7 years
Maximum | Developed Technology Rights | 2020 Acquisitions
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	7 years
Commercial Foodservice Equipment Group
Business Acquisition [Line Items]
Goodwill	$ 1,170,516	$ 1,153,552
Commercial Foodservice Equipment Group | 2020 Acquisitions
Business Acquisition [Line Items]
Goodwill	13,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 16,500

Acquisitions and Purchase Acc_6

Acquisitions and Purchase Accounting Acquisitions and Purchase Accounting - Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
Business Combinations [Abstract]
Business Acquisition, Pro Forma Revenue	$ 1,786,481	$ 2,262,959
Business Acquisition, Pro Forma Net Income (Loss)	$ 158,115	$ 231,068
Business Acquisition, Pro Forma Earnings Per Share, Basic	$ 2.87	$ 4.15
Business Acquisition, Pro Forma Earnings Per Share, Diluted	$ 2.87	$ 4.15

Revenue Recognition Disaggregat

Revenue Recognition Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 634,525	$ 724,014	$ 1,783,961	$ 2,171,820
United States and Canada
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	445,237	490,730	1,260,088	1,448,242
Asia
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	46,450	60,053	127,149	179,978
Europe and Middle East
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	131,419	147,764	354,425	467,742
Latin America
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	11,419	25,467	42,299	75,858
Commercial Foodservice Equipment Group
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	371,223	500,990	1,081,847	1,471,800
Commercial Foodservice Equipment Group | United States and Canada
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	265,793	346,616	768,202	1,004,609
Commercial Foodservice Equipment Group | Asia
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	39,864	53,463	104,936	153,787
Commercial Foodservice Equipment Group | Europe and Middle East
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	60,603	82,244	180,187	258,102
Commercial Foodservice Equipment Group | Latin America
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,963	18,667	28,522	55,302
Food Processing Group
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	110,648	89,147	316,477	279,474
Food Processing Group | United States and Canada
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	82,126	57,255	227,770	172,944
Food Processing Group | Asia
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,711	5,100	18,460	21,836
Food Processing Group | Europe and Middle East
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	18,600	21,125	57,051	67,624
Food Processing Group | Latin America
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	5,211	5,667	13,196	17,070
Residential Kitchen
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	152,654	133,877	385,637	420,546
Residential Kitchen | United States and Canada
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	97,318	86,859	264,116	270,689
Residential Kitchen | Asia
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,875	1,490	3,753	4,355
Residential Kitchen | Europe and Middle East
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	52,216	44,395	117,187	142,016
Residential Kitchen | Latin America
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 1,245	$ 1,133	$ 581	$ 3,486

Revenue Recognition Contract wi

Revenue Recognition Contract with Customer, Asset and Liability (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 26, 2020	Dec. 28, 2019
Revenue Recognition [Abstract]
Contract with Customer, Asset, Net, Current	$ 21,345	$ 22,675
Contract liabilities	86,103	74,511
Contract with Customer, Liability, Noncurrent	12,488	$ 12,870
Contract with Customer, Asset, Reclassified to Receivable	13,000
Contract with Customer, Liability, Revenue Recognized	43,800
Contract with Customer, Liability, Increase for Contract Acquired during the Period	70,900
Capitalized Contract Cost, Impairment Loss	$ 0

Changes in accumulated other co

Changes in accumulated other comprehensive income (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 26, 2020	Sep. 28, 2019
Accumulated Other Comprehensive Income [Roll Forward]
Beginning of Period		$ (350,933)	$ (276,476)
Other comprehensive income before reclassification		(32,675)	(49,425)
Amounts reclassified from accumulated other comprehensive income		10,419	(1,953)
Net current-period other comprehensive income		(22,256)	(51,367)
End of Period		(373,189)	(327,843)
Accumulated Other Comprehensive (income) Loss, Defined Benefit Plan, Tax		(47,300)	(35,800)
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Tax		(15,300)	(7,300)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax		(9,300)	(9,900)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, Tax		1,300	1,000
Accounting Standards Update 2017-12
Accumulated Other Comprehensive Income [Roll Forward]
Adoption of ASU 2017-12 (2)	[1]		11
Accumulated Translation Adjustment
Accumulated Other Comprehensive Income [Roll Forward]
Beginning of Period		(105,705)	(112,771)
Other comprehensive income before reclassification		(3,213)	(27,190)
Amounts reclassified from accumulated other comprehensive income		0	0
Net current-period other comprehensive income		(3,213)	(27,190)
End of Period		(108,918)	(139,961)
Accumulated Translation Adjustment | Accounting Standards Update 2017-12
Accumulated Other Comprehensive Income [Roll Forward]
Adoption of ASU 2017-12 (2)	[1]		0
Accumulated Defined Benefit Plans Adjustment
Accumulated Other Comprehensive Income [Roll Forward]
Beginning of Period		(228,336)	(170,938)
Other comprehensive income before reclassification		(6,184)	(4,966)
Amounts reclassified from accumulated other comprehensive income		0	0
Net current-period other comprehensive income		6,184	4,966
End of Period		(222,152)	(165,972)
Accumulated Defined Benefit Plans Adjustment | Accounting Standards Update 2017-12
Accumulated Other Comprehensive Income [Roll Forward]
Adoption of ASU 2017-12 (2)	[1]		0
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent | Interest Rate Swap
Accumulated Other Comprehensive Income [Roll Forward]
Beginning of Period		(16,892)	7,233
Other comprehensive income before reclassification		(35,646)	(27,201)
Amounts reclassified from accumulated other comprehensive income		10,419	(1,953)
Net current-period other comprehensive income		(25,227)	(29,143)
End of Period		$ (42,119)	(21,910)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent | Interest Rate Swap | Accounting Standards Update 2017-12
Accumulated Other Comprehensive Income [Roll Forward]
Adoption of ASU 2017-12 (2)	[1]		$ 11
[1]	As of December 30, 2018, the company adopted ASU No. 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities" using the modified retrospective method. The adoption of this guidance resulted in the recognition of less than $0.1 million as an adjustment to the opening balance of retained earnings.

Components of Other Comprehensi

Components of Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Disclosure Other Comprehensive Income Additional Information [Abstract]
Net earnings	$ 60,516	$ 82,020	$ 155,457	$ 243,243
Currency Translation Adjustment	25,851	(25,428)	(3,213)	(27,190)
Change in unrecognized pension benefit costs, net of tax	(6,133)	4,975	6,184	4,966
Unrealized gain on interest rate swaps, net of tax	2,653	(5,652)	(25,227)	(29,143)
Comprehensive income	$ 82,887	$ 55,915	$ 133,201	$ 191,876

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019
Notes To Financial Statements [Abstract]
Inventory, Raw Materials, Net of Reserves	$ 274,769	$ 277,394
Inventory, Work in Process, Net of Reserves	59,496	58,663
Inventory, Finished Goods, Net of Reserves	223,247	249,642
Inventories, net	$ 557,512	$ 585,699

Changes in Carrying Amount of G

Changes in Carrying Amount of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 26, 2020USD ($)
Goodwill [Line Items]
Balance beginning of period	$ 1,849,747
Goodwill acquired during the year	13,448
Measurement period adjustments to goodwill acquired in prior year	(7,114)
Goodwill, Foreign Currency Translation Gain (Loss)	(720)
Balance end of period	1,855,361
Goodwill, Impairment Loss	0
Commercial Foodservice Equipment Group
Goodwill [Line Items]
Balance beginning of period	1,153,552
Goodwill acquired during the year	13,448
Measurement period adjustments to goodwill acquired in prior year	(55)
Goodwill, Foreign Currency Translation Gain (Loss)	3,571
Balance end of period	1,170,516
Food Processing Group
Goodwill [Line Items]
Balance beginning of period	257,679
Goodwill acquired during the year	0
Measurement period adjustments to goodwill acquired in prior year	(8,732)
Goodwill, Foreign Currency Translation Gain (Loss)	2,706
Balance end of period	251,653
Residential Kitchen
Goodwill [Line Items]
Balance beginning of period	438,516
Goodwill acquired during the year	0
Measurement period adjustments to goodwill acquired in prior year	1,673
Goodwill, Foreign Currency Translation Gain (Loss)	(6,997)
Balance end of period	$ 433,192

Intangibles (Details)

Intangibles (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019	Dec. 28, 2019
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 794,318		$ 794,318		$ 779,822
Finite-Lived Intangible Assets, Accumulated Amortization	(385,737)		(385,737)		$ (333,507)
Amortization of Intangible Assets	16,900	$ 17,300	51,400	$ 48,100
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	64,119		64,119
Finite-Lived Intangible Assets, Amortization Expense, Year Two	60,564		60,564
Finite-Lived Intangible Assets, Amortization Expense, Year Three	54,096		54,096
Finite-Lived Intangible Assets, Amortization Expense, Year Four	45,053		45,053
Finite-Lived Intangible Assets, Amortization Expense, Year Five	35,892		35,892
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	148,857		148,857
Finite-Lived Intangible Assets, Net	408,581		$ 408,581
Customer Lists
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life			8 years 8 months 12 days		9 years 2 months 12 days
Finite-Lived Intangible Assets, Gross	726,631		$ 726,631		$ 717,397
Finite-Lived Intangible Assets, Accumulated Amortization	(331,670)		$ (331,670)		$ (283,846)
Backlog
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life			6 months		1 year 3 months 18 days
Finite-Lived Intangible Assets, Gross	31,336		$ 31,336		$ 29,426
Finite-Lived Intangible Assets, Accumulated Amortization	(30,389)		$ (30,389)		$ (28,283)
Developed Technology Rights
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life			7 years 3 months 18 days		5 years 2 months 12 days
Finite-Lived Intangible Assets, Gross	36,351		$ 36,351		$ 32,999
Finite-Lived Intangible Assets, Accumulated Amortization	(23,678)		(23,678)		(21,378)
Tradenames And Trademarks
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 1,012,019		$ 1,012,019		$ 997,066

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019
Disclosure Accrued Expenses [Abstract]
Contract liabilities	$ 86,103	$ 74,511
Accrued payroll and related expenses	71,526	80,621
Accrued warranty	67,714	66,374
Accrued customer rebates	33,418	51,709
Accrued sales and other tax	23,438	19,862
Accrued short-term leases	23,297	21,827
Accrued interest rate swaps	15,282	0
Accrued Product Liability And Workers Compensation Liability Current	13,134	15,164
Accrued professional services	12,291	13,368
Accrued agent commission	10,562	13,816
Restructuring Charges	5,818	1,121
Other accrued expenses	58,997	58,177
Accrued expenses	$ 421,580	$ 416,550

Rollforward of Warranty Reserve

Rollforward of Warranty Reserve (Details) $ in Thousands	9 Months Ended
	Sep. 26, 2020USD ($)
Disclosure Rollforward Of Warranty Reserve [Abstract]
Beginning balance	$ 66,374
Warranty reserve related to acquisitions	1,335
Warranty expense	42,480
Warranty claims	(42,475)
Ending balance	$ 67,714

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 26, 2020	Aug. 21, 2020	Jan. 31, 2020	Dec. 28, 2019
Debt Disclosure [Line Items]
Senior secured revolving credit line	$ 854,758			$ 1,869,402
Term loan facility	345,312	$ 350,000	$ 750,000	0
Convertible senior notes	627,006			0
Other Long-term Debt	82			116
Total debt	1,832,125			1,873,140
Less: Current maturities of long-term debt	23,152			2,894
Long-term debt	1,808,973			1,870,246
Foreign
Debt Disclosure [Line Items]
Foreign loans	$ 4,967			$ 3,622

Financing Arrangements Addition

Financing Arrangements Additional Information (Details) - USD ($)	Aug. 21, 2020	Jan. 31, 2020	Sep. 26, 2020	Sep. 28, 2019	Dec. 28, 2019
Debt Disclosure [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 3,100,000,000		$ 3,500,000,000
Line of Credit Facility, Replaced Facility			3,000,000,000
Term loan facility	350,000,000	$ 750,000,000	345,312,000		$ 0
Long-term Line of Credit, Revolving Credit Facility	2,750,000,000
Line of Credit Facility, Potential Additional Borrowing Capacity		$ 4,000,000,000
Term loan facility amortization rate		2.50%
Proceeds from issuance of convertible notes, net of issuance costs			729,933,000	$ 0
Credit facility, outstanding			1,200,000,000
Line of Credit Facility, Outstanding Amount, USD Borrowings			814,000,000
Line of Credit Facility, Amount Outstanding, EUR Borrowings			40,800,000
Letters of Credit Outstanding, Amount			13,400,000
Line of Credit Facility, Remaining Borrowing Capacity			$ 1,900,000,000
Credit facility, additional interest rate above LIBOR			1.625%
Debt Instrument Interest Additional Interest Above LIBOR Rate Alternative			0.625%
Debt Instrument Interest Additional Interest Above Fed Funds Rate			0.50%
Debt Instrument, Interest Rate, Increase (Decrease)			1.00%
Credit facility, average interest rate			3.75%
Variable commitment fee			0.25%
Term loan facility average interest rate			2.83%
Line of credit, Current and Noncurrent, Foreign			$ 5,000,000
Line of Credit Facility, Interest Rate at Period End			6.08%
Derivative Notional Amount, Current			$ 251,000,000
Derivative Notional Amount, NonCurrent			$ 862,000,000
Derivative Fixed Interest Rate, Current			2.39%
Derivative Fixed Interest Rate, Noncurrent			1.87%
Debt Instrument, Interest Coverage Ratio Range, Low			300.00%
Debt Instrument, Interest Coverage Ratio Range, High			100.00%
Debt Instrument, Qualified Leverage Ratio Range, Low			550.00%
Debt Instrument, Leverage Ratio Range, High			100.00%
Debt Instrument, Leverage Ratio Range, Low			350.00%
Debt Instrument, Qualified Leverage Ratio Range, High			400.00%
Debt Instrument Interest Additional Interest Above LIBOR Rate, elevated covenants			2.00%
Line Of Credit Facility Commitment Fee Percentage, elevated covenants			0.35%
Term loan facility
Debt Disclosure [Line Items]
Payment for Debt Extinguishment or Debt Prepayment Cost	400,000,000
Convertible Debt
Debt Disclosure [Line Items]
Debt Instrument, Face Amount	$ 747,500,000		$ 747,500,000
Debt Instrument, Interest Rate, Stated Percentage	1.00%
Debt Instrument, Capped Call Transaction, Net Cost	$ 104,700,000
Proceeds from Debt, Net of Issuance Costs	$ 729,900,000

Carrying Value and Estimated Ag

Carrying Value and Estimated Aggregate Fair Value of Debt (Details) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019
Debt Disclosure [Line Items]
Carrying Value	$ 1,832,125	$ 1,873,140
Debt excluding convertible senior notes
Debt Disclosure [Line Items]
Carrying Value	1,205,119	1,873,140
Fair Value	$ 1,205,119	$ 1,873,140

Convertible Debt (Details)

Convertible Debt (Details) - USD ($) $ in Thousands	Sep. 26, 2020	Aug. 21, 2020	Dec. 28, 2019
Debt Disclosure [Line Items]
Debt Instrument, Unamortized Discount	$ 120,494
Convertible senior notes	627,006		$ 0
Convertible Debt
Debt Disclosure [Line Items]
Debt Instrument, Face Amount	$ 747,500	$ 747,500

Convertible Debt Interest Expen

Convertible Debt Interest Expense (Details) - Convertible Debt $ in Thousands	9 Months Ended
	Sep. 26, 2020USD ($)
Debt Disclosure [Line Items]
Interest Expense, Debt, Excluding Amortization	$ 726
Amortization of Debt Discount (Premium)	2,130
Interest Expense	$ 2,856

Convertible Debt Additional Inf

Convertible Debt Additional Information (Details) - USD ($)	Aug. 21, 2020	Sep. 26, 2020
Debt Disclosure [Line Items]
Debt Instrument, Convertible, Carrying Amount of Equity Component		$ 105,000,000
Debt Instrument, Convertible, Estimated Conversion Shares	5,800,000
Convertible Debt
Debt Disclosure [Line Items]
Notes Payable, Fair Value Disclosure		$ 740,700,000
Debt Instrument, Interest Rate, Effective Percentage		4.70%
Debt Instrument, Interest Rate, Stated Percentage	1.00%
Debt Conversion, Converted Instrument, Shares Issued	7.7746
Debt Instrument Convertible Principal Amount Used in Conversion Rate	$ 1,000
Debt Instrument, Convertible, Conversion Price	$ 128.62
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed	100.00%
Convertible Debt | Scenario One
Debt Disclosure [Line Items]
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger	130.00%
Convertible Debt | Scenario Two
Debt Disclosure [Line Items]
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger	98.00%

Capped Call Information (Detail

Capped Call Information (Details)	Aug. 21, 2020$ / shares
Convertible Debt
Debt Disclosure [Line Items]
Debt Instrument, Capped Call Transaction Cap Price, Per Share	$ 207.93

Summary of Fair Value of Intere

Summary of Fair Value of Interest Rate Swaps (Details) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019
Derivatives, Fair Value [Line Items]
Interest Rate Fair Value Hedge Liability at Fair Value	$ 15,282	$ 0
Other Noncurrent Assets | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Interest Rate Fair Value Hedge Asset at Fair Value	0	1,830
Accrued Liabilities | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Interest Rate Fair Value Hedge Liability at Fair Value	15,282	0
Other Noncurrent Liabilities | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Fair value	$ (42,538)	$ (25,120)

Impact on Earnings from Interes

Impact on Earnings from Interest Rate Swaps (Details) - Interest Rate Swap - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	$ (1,545)	$ (7,114)	$ (44,949)	$ (37,090)
Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain/(loss) reclassified from accumulated other comprehensive income (effective portion)	$ (5,158)	$ 403	$ (10,419)	$ 1,953

Financial Instruments Additiona

Financial Instruments Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 26, 2020USD ($)
Derivative [Line Items]
Fair value of interest rate swaps liability	$ 57.8
Loss in fair value of interest rate swaps	25.2
Foreign Exchange Forward
Derivative [Line Items]
Derivative, Fair Value, Net	$ (0.2)

Net Sales Summary (Details)

Net Sales Summary (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
		Sep. 26, 2020	Sep. 28, 2019		Sep. 26, 2020		Sep. 28, 2019
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 634,525	$ 724,014		$ 1,783,961		$ 2,171,820
Percent		100.00%	100.00%		100.00%		100.00%
Income from operations	[1],[2]	$ 86,672	$ 121,345		$ 231,204		$ 362,013
Depreciation and amortization expense					81,594		77,272
Capital Expenditures Net		7,064	12,189		20,395		33,819
Commercial Foodservice Equipment Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 371,223	$ 500,990		$ 1,081,847		$ 1,471,800
Percent		58.50%	69.20%		60.60%		67.80%
Income from operations	[1],[2]	$ 57,483	$ 105,099		$ 173,064		$ 313,482
Capital Expenditures Net		5,279	5,852		12,771		19,065
Food Processing Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 110,648	$ 89,147		$ 316,477		$ 279,474
Percent		17.40%	12.30%		17.70%		12.90%
Income from operations	[1],[2]	$ 22,860	$ 13,349		$ 57,801		$ 44,477
Capital Expenditures Net		692	3,212		3,115		5,289
Corporate and Other
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		0	0		0		0
Income from operations	[1],[2],[3]	(16,297)	(14,953)		(41,521)		(53,166)
Capital Expenditures Net		299	0	[3]	420	[3]	2,404	[3]
Residential Kitchen
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 152,654	$ 133,877		$ 385,637		$ 420,546
Percent		24.10%	18.50%		21.70%		19.30%
Income from operations	[1],[2]	$ 22,626	$ 17,850		$ 41,860		$ 57,220
Capital Expenditures Net		794	3,125		4,089		7,061
United States and Canada
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		445,237	490,730		1,260,088		1,448,242
United States and Canada | Commercial Foodservice Equipment Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		265,793	346,616		768,202		1,004,609
United States and Canada | Food Processing Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		82,126	57,255		227,770		172,944
United States and Canada | Residential Kitchen
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		97,318	86,859		264,116		270,689
Asia
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		46,450	60,053		127,149		179,978
Asia | Commercial Foodservice Equipment Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		39,864	53,463		104,936		153,787
Asia | Food Processing Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		4,711	5,100		18,460		21,836
Asia | Residential Kitchen
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		1,875	1,490		3,753		4,355
Europe and Middle East
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		131,419	147,764		354,425		467,742
Europe and Middle East | Commercial Foodservice Equipment Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		60,603	82,244		180,187		258,102
Europe and Middle East | Food Processing Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		18,600	21,125		57,051		67,624
Europe and Middle East | Residential Kitchen
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		52,216	44,395		117,187		142,016
Latin America
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		11,419	25,467		42,299		75,858
Latin America | Commercial Foodservice Equipment Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		4,963	18,667		28,522		55,302
Latin America | Food Processing Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		5,211	5,667		13,196		17,070
Latin America | Residential Kitchen
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 1,245	$ 1,133		$ 581		$ 3,486
[1]	Non-operating expenses are not allocated to the operating segments. Non-operating expenses consist of interest expense and deferred financing amortization, foreign exchange gains and losses and other income and expense items outside of income from operations.
[2]	Restructuring expenses are allocated in operating income by segment. See note 16 for further details.
[3]	Includes corporate and other general company assets and operations.

Summary of Results of Operation

Summary of Results of Operations for Business Segments (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
		Sep. 26, 2020	Sep. 28, 2019		Sep. 26, 2020		Sep. 28, 2019		Dec. 28, 2019
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 634,525	$ 724,014		$ 1,783,961		$ 2,171,820
Income from operations	[1],[2]	86,672	121,345		231,204		362,013
Depreciation		9,805	9,476		28,503		28,014
Amortization of Intangible Assets and Debt Issuance Costs	[3]	17,579	17,661		53,091		49,258
Capital Expenditures Net		7,064	12,189		20,395		33,819
Total assets		5,020,184	4,928,528		5,020,184		4,928,528		$ 5,002,143
Commercial Foodservice Equipment Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		371,223	500,990		1,081,847		1,471,800
Income from operations	[1],[2]	57,483	105,099		173,064		313,482
Depreciation		5,360	5,413		15,567		15,714
Amortization of Intangible Assets and Debt Issuance Costs	[3]	12,923	12,230		38,257		34,519
Capital Expenditures Net		5,279	5,852		12,771		19,065
Total assets		3,155,360	3,162,315		3,155,360		3,162,315
Food Processing Group
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		110,648	89,147		316,477		279,474
Income from operations	[1],[2]	22,860	13,349		57,801		44,477
Depreciation		1,480	1,158		4,179		3,498
Amortization of Intangible Assets and Debt Issuance Costs	[3]	1,794	2,616		5,494		6,223
Capital Expenditures Net		692	3,212		3,115		5,289
Total assets		628,156	606,186		628,156		606,186
Residential Kitchen
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		152,654	133,877		385,637		420,546
Income from operations	[1],[2]	22,626	17,850		41,860		57,220
Depreciation		2,965	2,897		8,742		8,697
Amortization of Intangible Assets and Debt Issuance Costs	[3]	2,170	2,413		7,627		7,308
Capital Expenditures Net		794	3,125		4,089		7,061
Total assets		1,149,550	1,129,935		1,149,550		1,129,935
Corporate and Other
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		0	0		0		0
Income from operations	[1],[2],[4]	(16,297)	(14,953)		(41,521)		(53,166)
Depreciation	[4]	0	8		15		105
Amortization of Intangible Assets and Debt Issuance Costs	[3],[4]	692	402		1,713		1,208
Capital Expenditures Net		299	0	[4]	420	[4]	2,404	[4]
Total assets	[4]	$ 87,118	$ 30,092		$ 87,118		$ 30,092
[1]	Non-operating expenses are not allocated to the operating segments. Non-operating expenses consist of interest expense and deferred financing amortization, foreign exchange gains and losses and other income and expense items outside of income from operations.
[2]	Restructuring expenses are allocated in operating income by segment. See note 16 for further details.
[3]	Includes amortization of deferred financing costs.
[4]	Includes corporate and other general company assets and operations.

Long-Lived Assets by Major Geog

Long-Lived Assets by Major Geographic Region (Details) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 503,041	$ 478,301
United States and Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	321,159	309,117
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	22,857	21,668
Europe and Middle East
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	152,914	139,486
Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	6,111	8,030
Total International
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 181,882	$ 169,184

Employee Retirement Plans Addit

Employee Retirement Plans Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020USD ($)	Sep. 28, 2019USD ($)	Sep. 26, 2020USD ($)plan	Sep. 28, 2019USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Net Periodic Benefit Cost, Other Components	$ 10,149	$ 7,175	$ 30,004	$ 22,233
Number of defined contribution 401K savings plans | plan			2
Non-US Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	649	593	$ 1,918	1,839
Interest cost	6,456	7,995	19,086	24,776
Expected return on assets	(18,089)	(16,118)	(53,476)	(49,948)
Amortization of net loss (gain)	842	149	2,489	462
Amortization of prior service cost (credit)	642	614	1,897	1,904
Curtailment loss (gain)	0	185	0	573
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ (9,500)	$ (6,582)	$ (28,086)	$ (20,394)

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 26, 2020	Mar. 28, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019	Dec. 28, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 7,263		$ 4,223	$ 10,281	$ 6,806
Restructuring Charges	5,818			5,818		$ 1,121
Covid-19
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	7,000			8,600
Effects on Future Earnings, Restructuring	20,000			20,000
Commercial Foodservice Equipment Group
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		$ 500
Restructuring Charges	$ 5,400			$ 5,400

Share Repurchases (Details)

Share Repurchases (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019	Nov. 07, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchased During Period, Shares			896,965
Treasury Stock Acquired, Average Cost Per Share			$ 77.70
Treasury Stock, Value, Acquired, Cost Method	$ 395	$ 58	$ 77,244	$ 6,144
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury Stock, Shares, Acquired			108,473
Treasury Stock, Value, Acquired, Cost Method			$ 7,500
2017 Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased					2,500,000
Stock Repurchased During Period, Value			$ 69,700
Share Repurchase Program, Number of Shares Repurchased	1,023,165		1,023,165