$MMSI
MERIT MEDICAL SYSTEMS INC

2024 Q3 Form 10-Q Financial Statement

#000085698224000078 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $339.8M $338.0M
YoY Change 7.81% 5.61%
Cost Of Revenue $182.3M $176.9M
YoY Change 5.36% 5.76%
Gross Profit $157.5M $161.1M
YoY Change 10.78% 5.44%
Gross Profit Margin 46.35% 47.66%
Selling, General & Admin $99.64M $94.59M
YoY Change 14.73% -6.28%
% of Gross Profit 63.25% 58.71%
Research & Development $20.53M $20.26M
YoY Change 4.48% -6.53%
% of Gross Profit 13.03% 12.58%
Depreciation & Amortization $26.40M $24.09M
YoY Change 9.56% 10.62%
% of Gross Profit 16.76% 14.95%
Operating Expenses $120.3M $115.2M
YoY Change 12.34% -6.91%
Operating Profit $37.26M $45.95M
YoY Change 6.04% 57.99%
Interest Expense -$849.0K -$118.0K
YoY Change -117.54% -96.59%
% of Operating Profit -2.28% -0.26%
Other Income/Expense, Net -$604.0K -$103.0K
YoY Change -87.71% -77.16%
Pretax Income $36.66M $45.84M
YoY Change 21.29% 84.11%
Income Tax $8.213M $10.12M
% Of Pretax Income 22.4% 22.07%
Net Earnings $28.44M $35.73M
YoY Change 10.1% 76.47%
Net Earnings / Revenue 8.37% 10.57%
Basic Earnings Per Share $0.49 $0.61
Diluted Earnings Per Share $0.48 $0.61
COMMON SHARES
Basic Shares Outstanding 58.21M 58.11M
Diluted Shares Outstanding 59.54M 58.74M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $523.1M $636.7M
YoY Change 791.19% 783.22%
Cash & Equivalents $523.1M $636.7M
Short-Term Investments
Other Short-Term Assets $31.32M $30.30M
YoY Change -1.82% 4.88%
Inventory $310.5M $298.2M
Prepaid Expenses
Receivables $189.8M $182.4M
Other Receivables $23.51M $14.95M
Total Short-Term Assets $1.078B $1.163B
YoY Change 84.23% 95.42%
LONG-TERM ASSETS
Property, Plant & Equipment $389.7M $385.9M
YoY Change 1.65% -13.62%
Goodwill $399.4M $381.4M
YoY Change 4.83% -0.09%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $62.38M $61.58M
YoY Change 28.5% 4.41%
Total Long-Term Assets $1.300B $1.209B
YoY Change 6.26% -2.69%
TOTAL ASSETS
Total Short-Term Assets $1.078B $1.163B
Total Long-Term Assets $1.300B $1.209B
Total Assets $2.378B $2.372B
YoY Change 31.49% 29.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $60.81M $55.57M
YoY Change 24.35% -10.02%
Accrued Expenses $127.3M $117.6M
YoY Change 6.68% -3.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $201.1M $186.2M
YoY Change 7.45% -1.99%
LONG-TERM LIABILITIES
Long-Term Debt $750.5M $801.3M
YoY Change 165.79% 139.03%
Other Long-Term Liabilities $17.34M $15.91M
YoY Change 25.6% -82.35%
Total Long-Term Liabilities $767.8M $817.2M
YoY Change 159.25% 92.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $201.1M $186.2M
Total Long-Term Liabilities $767.8M $817.2M
Total Liabilities $1.055B $1.089B
YoY Change 82.27% 71.86%
SHAREHOLDERS EQUITY
Retained Earnings $667.6M $639.2M
YoY Change 21.92% 22.51%
Common Stock $669.2M $658.7M
YoY Change -3.74% -4.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.323B $1.282B
YoY Change
Total Liabilities & Shareholders Equity $2.378B $2.372B
YoY Change 31.49% 29.07%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $28.44M $35.73M
YoY Change 10.1% 76.47%
Depreciation, Depletion And Amortization $26.40M $24.09M
YoY Change 9.56% 10.62%
Cash From Operating Activities $47.33M $68.51M
YoY Change -7.37% 296.31%
INVESTING ACTIVITIES
Capital Expenditures $9.921M $11.34M
YoY Change 15.36% 96.53%
Acquisitions
YoY Change
Other Investing Activities -$105.7M -$5.145M
YoY Change 15006.71% -96.25%
Cash From Investing Activities -$115.7M -$16.49M
YoY Change 1157.26% -88.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -47.57M 3.137M
YoY Change -12.71% -97.78%
NET CHANGE
Cash From Operating Activities 47.33M 68.51M
Cash From Investing Activities -115.7M -16.49M
Cash From Financing Activities -47.57M 3.137M
Net Change In Cash -115.9M 55.16M
YoY Change 819.91% 246.96%
FREE CASH FLOW
Cash From Operating Activities $47.33M $68.51M
Capital Expenditures $9.921M $11.34M
Free Cash Flow $37.41M $57.16M
YoY Change -11.97% 396.43%

Facts In Submission

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CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58139000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57537000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58049000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57445000
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58740000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58473000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58653000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58329000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
35726000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
20245000
us-gaap Net Income Loss
NetIncomeLoss
63966000
us-gaap Net Income Loss
NetIncomeLoss
40948000
CY2024Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTaxParent
-1711000
CY2023Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTaxParent
3422000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTaxParent
1261000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTaxParent
1731000
CY2024Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTaxParent
-404000
CY2023Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTaxParent
821000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTaxParent
298000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTaxParent
415000
CY2024Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
-1688000
CY2023Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
-1201000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
-5092000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
724000
CY2024Q2 us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax
-22000
CY2023Q2 us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax
15000
us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax
-34000
us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax
34000
CY2024Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2973000
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1385000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-4095000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2006000
CY2024Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
32753000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
21630000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
59871000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
42954000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
1202000000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
28240000
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1122000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4934000
CY2024Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
7394000
CY2024Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
336000
CY2024Q1 mmsi Stock Surrendered During Period Value Payroll Tax Liabilities Stock Options Exercised
StockSurrenderedDuringPeriodValuePayrollTaxLiabilitiesStockOptionsExercised
1592000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
1240190000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
35726000
CY2024Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2973000
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6301000
CY2024Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2913000
CY2024Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
288000
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
1282445000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
1144397000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
20703000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
621000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3498000
CY2023Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3726000
CY2023Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
302000
CY2023Q1 mmsi Stock Surrendered During Period Value Payroll Tax Liabilities Stock Options Exercised
StockSurrenderedDuringPeriodValuePayrollTaxLiabilitiesStockOptionsExercised
1592000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
1171655000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
20245000
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1385000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4980000
CY2023Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5154000
CY2023Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
281000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
1203700000
us-gaap Net Income Loss
NetIncomeLoss
63966000
us-gaap Net Income Loss
NetIncomeLoss
40948000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
47690000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
42316000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-79000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-4677000
us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
280000
us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
328000
us-gaap Research And Development Asset Acquired Other Than Through Business Combination Written Off
ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff
1550000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
6063000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
5935000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
189000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
1615000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
52000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
52000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2954000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
462000
us-gaap Share Based Compensation
ShareBasedCompensation
12245000
us-gaap Share Based Compensation
ShareBasedCompensation
9549000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6901000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5980000
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
499000
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-287000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-3119000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
35502000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2306000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-78000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
3621000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
3577000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2968000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1558000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-7096000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-7253000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-2804000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-10295000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-3869000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-4896000
us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
1421000
us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
1154000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-5962000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-5711000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2794000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-2244000
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
40756000
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-9117000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
104722000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
31831000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
22309000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
18556000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1576000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1047000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
201000
us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
6162000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
8493000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
138349000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-38538000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-157751000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10931000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
9463000
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
460283000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
24063000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
318471000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
5240000
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
142000
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
3434000
mmsi Payments Related To Tax Withholding For Exchange Of Common Stock
PaymentsRelatedToTaxWithholdingForExchangeOfCommonStock
1592000
mmsi Payments Related To Tax Withholding For Exchange Of Common Stock
PaymentsRelatedToTaxWithholdingForExchangeOfCommonStock
1592000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
141009000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
49568000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
13592000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
589144000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
60558000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
638712000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
74150000
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
72084000
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
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CY2023Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
638712000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
74150000
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
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us-gaap Interest Paid Capitalized
InterestPaidCapitalized
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Interest Paid Net
InterestPaidNet
3681000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
22619000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
17787000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
5411000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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mmsi Acquisition Of Developed Technology In Accrued Expenses
AcquisitionOfDevelopedTechnologyInAccruedExpenses
4553000
mmsi Acquisition Of Developed Technology In Accrued Expenses
AcquisitionOfDevelopedTechnologyInAccruedExpenses
3635000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3399000
us-gaap Number Of Operating Segments
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CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
338003000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
661511000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
617621000
CY2024Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
152180000
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
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CY2024Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
38049000
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
25420000
CY2024Q2 us-gaap Inventory Raw Materials Net Of Reserves
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CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
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CY2024Q2 us-gaap Inventory Net
InventoryNet
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CY2023Q4 us-gaap Inventory Net
InventoryNet
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CY2023Q4 us-gaap Goodwill
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us-gaap Goodwill Foreign Currency Translation Gain Loss
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CY2024Q2 us-gaap Goodwill
Goodwill
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CY2024Q2 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
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CY2023Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
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us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
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us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
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CY2024Q2 us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
29400000
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
25700000
us-gaap Impairment Of Intangible Assets Finitelived
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us-gaap Impairment Of Intangible Assets Finitelived
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
31367000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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CY2024Q2 us-gaap Income Tax Expense Benefit
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CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
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CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9500000
us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2024Q2 us-gaap Deferred Finance Costs Net
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CY2023Q4 us-gaap Deferred Finance Costs Net
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23550000
CY2024Q2 us-gaap Long Term Debt
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CY2023Q4 us-gaap Long Term Debt
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801321000
CY2023Q4 us-gaap Long Term Debt Noncurrent
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CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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75000000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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747500000
CY2024Q2 us-gaap Debt Instrument Carrying Amount
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CY2024Q2 us-gaap Interest Expense Nonoperating
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CY2023Q2 us-gaap Interest Expense Nonoperating
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CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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320056000
CY2024Q2 us-gaap Cost Of Goods And Services Sold
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CY2023Q2 us-gaap Cost Of Goods And Services Sold
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us-gaap Interest Expense Nonoperating
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us-gaap Interest Expense Nonoperating
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Cost Of Goods And Services Sold
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348696000
us-gaap Cost Of Goods And Services Sold
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CY2024Q2 us-gaap Net Income Loss
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35726000
CY2023Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58049000
us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.61
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
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CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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WeightedAverageNumberOfSharesOutstandingBasic
57537000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58049000
us-gaap Weighted Average Number Of Shares Outstanding Basic
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57445000
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
601000
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
604000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
884000
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58653000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.61
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.09
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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802000
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1114000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1009000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1014000
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7011000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5580000
us-gaap Allocated Share Based Compensation Expense
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12245000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9549000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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20358
us-gaap Number Of Operating Segments
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2
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CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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661511000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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OperatingIncomeLoss
28812000
us-gaap Operating Income Loss
OperatingIncomeLoss
81868000
us-gaap Operating Income Loss
OperatingIncomeLoss
55195000
CY2024Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2023Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-3912000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1677000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-4795000
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10117000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4655000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16225000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9452000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
35726000
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NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
63966000
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
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us-gaap Payment For Contingent Consideration Liability Financing Activities
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us-gaap Payment For Contingent Consideration Liability Operating Activities
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100000
us-gaap Payment For Contingent Consideration Liability Operating Activities
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CY2024Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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22600000
CY2023Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
19100000
us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0
CY2024Q2 us-gaap Long Term Accounts Notes And Loans Receivable Net Noncurrent
LongTermAccountsNotesAndLoansReceivableNetNoncurrent
8700000
CY2023Q4 us-gaap Long Term Accounts Notes And Loans Receivable Net Noncurrent
LongTermAccountsNotesAndLoansReceivableNetNoncurrent
3200000
us-gaap Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
6200000
CY2024Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1388000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
568000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
281000
CY2024Q2 us-gaap Provision For Loan Losses Expensed
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CY2023Q2 us-gaap Provision For Loan Losses Expensed
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6000
us-gaap Provision For Loan Losses Expensed
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us-gaap Provision For Loan Losses Expensed
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CY2024Q2 us-gaap Financing Receivable Allowance For Credit Losses
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CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses
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CY2024Q2 us-gaap Financing Receivable Allowance For Credit Losses
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CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses
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CY2024Q2 ecd Rule10b51 Arr Adopted Flag
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false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
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false

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