$MMSI
MERIT MEDICAL SYSTEMS INC

2019 Q4 Form 10-Q Financial Statement

#000155837019010598 Filed on November 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q4
Revenue $257.9M $243.0M $233.2M
YoY Change 10.58% 9.65% 22.19%
Cost Of Revenue $146.3M $138.9M $128.6M
YoY Change 13.76% 16.13% 22.24%
Gross Profit $111.6M $104.1M $104.7M
YoY Change 6.65% 2.06% 22.19%
Gross Profit Margin 43.28% 42.85% 44.87%
Selling, General & Admin $82.10M $86.94M $75.60M
YoY Change 8.6% 30.96% 27.92%
% of Gross Profit 73.55% 83.48% 72.23%
Research & Development $16.30M $16.99M $15.60M
YoY Change 4.49% 16.95% 22.83%
% of Gross Profit 14.6% 16.31% 14.9%
Depreciation & Amortization $23.60M $23.50M $19.10M
YoY Change 23.56% 33.52% 34.51%
% of Gross Profit 21.14% 22.57% 18.25%
Operating Expenses $94.50M $107.0M $91.00M
YoY Change 3.85% 32.16% 27.27%
Operating Profit -$3.409M -$2.881M $13.66M
YoY Change -124.95% -113.68% 3.34%
Interest Expense -$6.400M $3.415M -$1.900M
YoY Change 236.84% 46.63% 11.76%
% of Operating Profit -13.91%
Other Income/Expense, Net $1.800M -$2.809M $500.0K
YoY Change 260.0% 67.6% -200.0%
Pretax Income -$8.000M -$5.690M $12.20M
YoY Change -165.57% -129.35% 7.96%
Income Tax -$3.757M -$2.292M $3.022M
% Of Pretax Income 24.77%
Net Earnings -$4.205M -$3.398M $9.188M
YoY Change -145.77% -120.45% 35.0%
Net Earnings / Revenue -1.63% -1.4% 3.94%
Basic Earnings Per Share -$0.08 -$0.06 $0.17
Diluted Earnings Per Share -$0.08 -$0.06 $0.16
COMMON SHARES
Basic Shares Outstanding 55.21M 55.15M 54.83M shares
Diluted Shares Outstanding 55.15M

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $44.30M $37.30M $67.40M
YoY Change -34.27% -28.27% 108.67%
Cash & Equivalents $44.32M $37.32M $67.36M
Short-Term Investments
Other Short-Term Assets $16.00M $21.20M $15.00M
YoY Change 6.67% 41.33% 21.95%
Inventory $225.7M $216.8M $197.5M
Prepaid Expenses
Receivables $155.4M $144.7M $137.2M
Other Receivables $13.10M $21.30M $12.80M
Total Short-Term Assets $454.5M $441.3M $429.8M
YoY Change 5.75% 13.84% 35.97%
LONG-TERM ASSETS
Property, Plant & Equipment $378.8M $366.9M $331.5M
YoY Change 14.28% 14.68% 13.19%
Goodwill $353.2M $352.2M $335.4M
YoY Change 5.29% 41.42% 40.85%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $41.46M $59.74M $57.58M
YoY Change -27.99% -3.54% 64.32%
Total Long-Term Assets $1.303B $1.320B $1.190B
YoY Change 9.46% 43.17% 49.58%
TOTAL ASSETS
Total Short-Term Assets $454.5M $441.3M $429.8M
Total Long-Term Assets $1.303B $1.320B $1.190B
Total Assets $1.757B $1.762B $1.620B
YoY Change 8.48% 34.49% 45.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $54.60M $52.40M $54.00M
YoY Change 1.11% 3.35% 54.73%
Accrued Expenses $105.2M $80.49M $96.17M
YoY Change 9.37% 22.82% 63.19%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $7.000M
YoY Change -100.0% -100.0% 0.59%
Long-Term Debt Due $7.500M $7.500M $22.00M
YoY Change -65.91% -65.91% 13.06%
Total Short-Term Liabilities $181.7M $153.2M $175.3M
YoY Change 3.6% 9.57% 51.65%
LONG-TERM LIABILITIES
Long-Term Debt $432.0M $432.5M $373.2M
YoY Change 15.77% 131.42% 44.07%
Other Long-Term Liabilities $56.47M $77.39M $65.49M
YoY Change -13.77% 422.4% 299.87%
Total Long-Term Liabilities $488.5M $509.8M $438.6M
YoY Change 11.36% 152.8% 59.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $181.7M $153.2M $175.3M
Total Long-Term Liabilities $488.5M $509.8M $438.6M
Total Liabilities $807.4M $812.5M $687.2M
YoY Change 17.48% 110.12% 57.81%
SHAREHOLDERS EQUITY
Retained Earnings $368.2M $373.2M $363.4M
YoY Change 1.32% 5.35% 13.07%
Common Stock $587.0M $584.2M $571.4M
YoY Change 2.74% 2.84% 61.69%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $949.9M $949.2M $932.8M
YoY Change
Total Liabilities & Shareholders Equity $1.757B $1.762B $1.620B
YoY Change 8.48% 34.49% 45.71%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q4
OPERATING ACTIVITIES
Net Income -$4.205M -$3.398M $9.188M
YoY Change -145.77% -120.45% 35.0%
Depreciation, Depletion And Amortization $23.60M $23.50M $19.10M
YoY Change 23.56% 33.52% 34.51%
Cash From Operating Activities $26.90M $15.20M $23.60M
YoY Change 13.98% -45.52% 22.28%
INVESTING ACTIVITIES
Capital Expenditures -$20.80M -$23.10M -$17.00M
YoY Change 22.35% 44.38% 73.47%
Acquisitions
YoY Change
Other Investing Activities $300.0K -$16.10M -$179.0M
YoY Change -100.17% 274.42% 8423.81%
Cash From Investing Activities -$20.60M -$39.10M -$196.0M
YoY Change -89.49% 92.61% 1547.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -200.0K 25.90M 187.9M
YoY Change -100.11% 1026.09% 23387.5%
NET CHANGE
Cash From Operating Activities 26.90M 15.20M 23.60M
Cash From Investing Activities -20.60M -39.10M -196.0M
Cash From Financing Activities -200.0K 25.90M 187.9M
Net Change In Cash 6.100M 2.000M 15.50M
YoY Change -60.65% -79.8% 89.02%
FREE CASH FLOW
Cash From Operating Activities $26.90M $15.20M $23.60M
Capital Expenditures -$20.80M -$23.10M -$17.00M
Free Cash Flow $47.70M $38.30M $40.60M
YoY Change 17.49% -12.76% 39.52%

Facts In Submission

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CY2018Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2018Q2 mmsi Stock Surrendered During Period Value Stock Options Exercised
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CY2018Q2 us-gaap Stockholders Equity
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CY2018Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2018Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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CY2018Q3 us-gaap Stock Issued During Period Value New Issues
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551000
CY2018Q3 mmsi Stock Surrendered During Period Value Stock Options Exercised
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CY2018Q3 us-gaap Stockholders Equity
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us-gaap Net Income Loss
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us-gaap Goodwill And Intangible Asset Impairment
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us-gaap Research And Development Asset Acquired Other Than Through Business Combination Written Off
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us-gaap Amortization Of Financing Costs
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
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us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Intangible Assets
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us-gaap Net Cash Provided By Used In Investing Activities
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mmsi Payments Related To Tax Withholding For Exchange Of Common Stock
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us-gaap Net Cash Provided By Used In Financing Activities
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WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019Q3 us-gaap Earnings Per Share Diluted
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CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1361000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
221659000
CY2018Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
234751000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
649504000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
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CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
16619000
CY2018Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
11335000
us-gaap Net Income Loss
NetIncomeLoss
32828000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
16496000
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
CY2018Q3 us-gaap Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Basic
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareBasic
0.21
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.64
us-gaap Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Basic
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareBasic
0.32
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30
CY2018Q3 us-gaap Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Diluted
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareDiluted
0.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62
us-gaap Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Diluted
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareDiluted
0.31
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
243049000
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
221659000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
736930000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
649504000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
243049000
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
221659000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
736930000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
649504000
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-2881000
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
21061000
us-gaap Operating Income Loss
OperatingIncomeLoss
18844000
us-gaap Operating Income Loss
OperatingIncomeLoss
44955000
CY2019Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2809000
CY2018Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1676000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-8689000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-7646000
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2292000
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2766000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
499000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4481000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-3398000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
16619000
us-gaap Net Income Loss
NetIncomeLoss
9656000
us-gaap Net Income Loss
NetIncomeLoss
32828000
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<p style="font-family:'Times New Roman';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">8.   Recently Issued Financial Accounting Standards.</p><p style="font-family:'Times New Roman';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Recently Adopted</p><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, <i style="font-style:italic;">Leases (Topic 842) </i>("ASC 842"), which requires lessees to recognize right-of-use ("ROU") assets and related lease liabilities on the balance sheet for all leases greater than one year in duration. We adopted ASC 842 on January 1, 2019 using a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach did not require any transition accounting for leases that expired before the earliest comparative period presented. The adoption of this standard resulted in the recording of ROU assets and lease liabilities for all of our lease agreements with original terms of greater than one year. The adoption of ASC 842 did not have a significant impact on our consolidated statements of operations or cash flows. See Note 14 for the required disclosures relating to our lease agreements.</p><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">In June 2018, the FASB issued ASU 2018-07, <i style="font-style:italic;">Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting</i>, which simplifies the accounting for nonemployee share-based payment transactions by expanding the scope of ASC Topic 718, <i style="font-style:italic;">Compensation - Stock Compensation</i>, to include share-based payment transactions for acquiring goods and services from nonemployees. Under the new standard, most of the guidance on stock compensation payments to nonemployees would be aligned with the requirements for share-based payments granted to employees. This standard became effective for us on January 1, 2019. The adoption of this standard did not have a material impact on our consolidated financial statements.</p><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">In February 2018, the FASB issued ASU 2018-02, <i style="font-style:italic;">Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,</i> which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from U.S. federal tax legislation commonly referred to as the Tax Cuts and Jobs Act, which was enacted in December 2017 (the "2017 Tax Act"). ASU 2018-02 became effective for us on January 1, 2019. The adoption of this standard did not have a material impact on our consolidated financial statements.</p><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">In August 2017, the FASB issued ASU 2017-12, <i style="font-style:italic;">Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities</i>, which expands and refines hedge accounting for both financial and non-financial risk components, aligns the recognition and presentation of the effects of hedging instruments and hedge items in the financial statements, and includes certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. ASU 2017-12 became effective for us on January 1, 2019. The adoption of this standard did not have a material impact on our consolidated financial statements.</p><p style="font-family:'Times New Roman';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Not Yet Adopted</p><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">In August 2018, the FASB issued ASU 2018-15, <i style="font-style:italic;">Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, </i>which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). ASU 2018-15 is effective for annual periods beginning after December 15, 2019, including interim periods within those annual periods. Early adoption is permitted. We are currently assessing the impact of this standard on our consolidated financial statements.</p><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">In August 2018, the FASB issued ASU 2018-13, <i style="font-style:italic;">Fair Value Measurement (Topic 820)</i>, which removes, modifies and adds various disclosure requirements related to fair value disclosures. Disclosures related to transfers between fair value hierarchy levels will be removed and further detail around changes in unrealized gains and losses for the period and unobservable inputs used in determining level 3 fair value measurements will be added, among other changes. ASU 2018-13 is effective for interim and annual reporting periods beginning after December 15, 2019, and early adoption is permitted. We are currently assessing the impact of this standard on our consolidated financial statements.</p><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">In June 2016, the FASB issued ASU 2016-13, <i style="font-style:italic;">Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, </i>which replaces the current incurred loss impairment methodology for financial assets measured at amortized cost with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information, including forecasted information, to develop credit loss estimates. ASU 2016-13 is effective for annual periods beginning after December 15, 2019, including interim periods within those annual periods. Early adoption is permitted for annual periods beginning after December 15, 2018. We are currently assessing the impact of this standard on our consolidated financial statements.</p><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">We do not believe any other issued and not yet effective accounting standards will be relevant to our consolidated financial statements.</p>
CY2018Q3 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
0
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
86000
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.403
CY2018Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.143
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2300000
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2800000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.049
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.120
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
500000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4500000
CY2018Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
7000000
CY2019Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
544000
CY2018Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
348000
CY2019Q3 us-gaap Long Term Debt
LongTermDebt
439956000
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
395152000
CY2019Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
7500000
CY2018Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
22000000
CY2019Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
432456000
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
373152000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1875000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
7500000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
7500000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
8438000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
11250000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
403937000
CY2019Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
440500000
CY2019Q3 mmsi Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesTax
-300000
CY2018Q4 mmsi Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesTax
-1500000
us-gaap Derivative Term Of Contract
DerivativeTermOfContract
P2Y
CY2019Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
2700000
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
3300000
CY2019Q3 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
196000
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
829000
CY2018Q4 us-gaap Goodwill
Goodwill
335433000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-1069000
mmsi Goodwill Purchase Accounting Adjustmentsand Additions
GoodwillPurchaseAccountingAdjustmentsandAdditions
-17794000
CY2019Q3 us-gaap Goodwill
Goodwill
352158000
CY2019Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
8300000
CY2018Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
8300000
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15500000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
45200000
CY2018Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
10500000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
29400000
CY2019Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
2700000
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
3300000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
15435000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
59265000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
51916000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
50504000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
49297000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
46360000
CY2019Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P15Y
mmsi Lessee Operating Lease Termination Period
LesseeOperatingLeaseTerminationPeriod
P1Y
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
79757000
CY2019Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
11652000
CY2019Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
72056000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
83708000
CY2015Q4 us-gaap Sale Leaseback Transaction Amount Due Under Financing Arrangement
SaleLeasebackTransactionAmountDueUnderFinancingArrangement
2000000.0
CY2018Q4 us-gaap Sale Leaseback Transaction Deferred Gain Net
SaleLeasebackTransactionDeferredGainNet
93000
CY2019Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
4253000
us-gaap Operating Lease Expense
OperatingLeaseExpense
12650000
CY2019Q3 us-gaap Sublease Income
SubleaseIncome
37000
us-gaap Sublease Income
SubleaseIncome
328000
CY2019Q3 us-gaap Lease Cost
LeaseCost
4216000
us-gaap Lease Cost
LeaseCost
12322000
us-gaap Operating Lease Payments
OperatingLeasePayments
11028000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7431000
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P12Y4M24D
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.033
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3575000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
13562000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
12568000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
10058000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
8038000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
58492000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
106293000
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
22585000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
83708000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
13421000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
11319000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
9995000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
8053000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
6953000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
52754000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
102495000

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