2020 Q3 Form 10-K Financial Statement

#000104952120000034 Filed on August 18, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q2 2019 Q1
Revenue $217.4M $177.0M $174.6M
YoY Change 22.61% 0.0% 0.0%
Cost Of Revenue $120.8M $97.10M $100.8M
YoY Change 22.14% 14.78% 58.55%
Gross Profit $96.60M $79.84M $73.85M
YoY Change 23.21% 0.0% 0.0%
Gross Profit Margin 44.43% 45.12% 42.29%
Selling, General & Admin $35.50M $30.70M $27.41M
YoY Change 18.45% 20.87% 29.68%
% of Gross Profit 36.75% 38.45% 37.12%
Research & Development $27.00M $20.30M $17.44M
YoY Change 23.46% 36.24% 16.1%
% of Gross Profit 27.95% 25.43% 23.62%
Depreciation & Amortization $12.70M $11.60M $11.50M
YoY Change 11.59% -3.33% 0.88%
% of Gross Profit 13.15% 14.53% 15.57%
Operating Expenses $70.20M $58.10M $51.79M
YoY Change 15.23% 21.55% 12.75%
Operating Profit $26.40M $20.85M $22.06M
YoY Change 51.06% 0.0% 0.0%
Interest Expense -$800.0K -$1.600M $2.473M
YoY Change -5.88% 147.55%
% of Operating Profit -3.03% -7.67% 11.21%
Other Income/Expense, Net $1.600M -$6.700M -$328.0K
YoY Change -211.58% 1240.0% -596.97%
Pretax Income $27.00M $12.59M $19.47M
YoY Change 56.71% 0.0% 0.0%
Income Tax -$200.0K -$217.0K $5.357M
% Of Pretax Income -0.74% -1.72% 27.52%
Net Earnings $27.20M $12.80M $14.11M
YoY Change 41.32% 0.0% 0.0%
Net Earnings / Revenue 12.51% 7.24% 8.08%
Basic Earnings Per Share $0.26 $0.30
Diluted Earnings Per Share $492.8K $0.25 $0.29
COMMON SHARES
Basic Shares Outstanding 55.64M shares 48.45M shares 47.26M shares
Diluted Shares Outstanding 47.96M shares

Balance Sheet

Concept 2020 Q3 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $226.8M $257.9M $112.5M
YoY Change 40.61% 287.82% 154.52%
Cash & Equivalents $226.8M $257.9M $112.5M
Short-Term Investments
Other Short-Term Assets $19.10M $10.90M $10.30M
YoY Change 20.89% -14.84% 0.0%
Inventory $178.1M $137.1M $131.7M
Prepaid Expenses
Receivables $120.4M $118.8M $114.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $634.8M $582.2M $425.2M
YoY Change 26.19% 75.49% 35.77%
LONG-TERM ASSETS
Property, Plant & Equipment $87.74M $60.00M $55.86M
YoY Change 33.04% 17.7% 8.9%
Goodwill $614.1M $562.1M $543.5M
YoY Change -0.5% 13.01% 381.63%
Intangibles $208.7M $206.1M $180.8M
YoY Change -9.31% 15.86% -2.98%
Long-Term Investments
YoY Change
Other Assets $4.777M $6.534M $7.011M
YoY Change -22.84% 1.92% 2.89%
Total Long-Term Assets $976.0M $834.8M $787.2M
YoY Change 0.53% 13.93% 5.84%
TOTAL ASSETS
Total Short-Term Assets $634.8M $582.2M $425.2M
Total Long-Term Assets $976.0M $834.8M $787.2M
Total Assets $1.611B $1.417B $1.212B
YoY Change 9.29% 33.11% 14.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $41.88M $39.03M $35.22M
YoY Change 19.85% 83.04% 7.19%
Accrued Expenses $23.79M $18.90M $20.34M
YoY Change 9.44% 15.32% 22.14%
Deferred Revenue $18.97M $11.29M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $125.9M $98.03M $93.79M
YoY Change 33.85% 36.76% 18.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $276.5M
YoY Change -100.0% 41.79%
Other Long-Term Liabilities $15.03M $15.12M $15.02M
YoY Change 22.82% 34.08% 27.3%
Total Long-Term Liabilities $15.03M $15.12M $15.02M
YoY Change 22.82% 34.08% 27.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $125.9M $98.03M $93.79M
Total Long-Term Liabilities $15.03M $15.12M $15.02M
Total Liabilities $225.9M $132.2M $400.0M
YoY Change 26.52% -54.8% 32.82%
SHAREHOLDERS EQUITY
Retained Earnings $312.5M $226.7M $213.9M
YoY Change 27.02% 25.99% 25.95%
Common Stock $547.0K $542.0K $473.0K
YoY Change 0.37% 15.57% 1.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.385B $1.285B $812.4M
YoY Change
Total Liabilities & Shareholders Equity $1.611B $1.417B $1.212B
YoY Change 9.29% 33.11% 14.71%

Cashflow Statement

Concept 2020 Q3 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income $27.20M $12.80M $14.11M
YoY Change 41.32% 0.0% 0.0%
Depreciation, Depletion And Amortization $12.70M $11.60M $11.50M
YoY Change 11.59% -3.33% 0.88%
Cash From Operating Activities $28.70M $26.00M $26.20M
YoY Change 18.06% 1.56% 2811.11%
INVESTING ACTIVITIES
Capital Expenditures -$11.50M -$8.800M -$7.100M
YoY Change -219.85% 120.0% 102.86%
Acquisitions $36.50M
YoY Change
Other Investing Activities $0.00 -$45.60M -$36.50M
YoY Change -100.0% -79.68%
Cash From Investing Activities -$11.50M -$54.40M -$43.60M
YoY Change -89.16% 1226.83% -76.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -197.6M 173.9M 36.00M
YoY Change 1257.24% 17290.0% -81.52%
NET CHANGE
Cash From Operating Activities 28.70M 26.00M 26.20M
Cash From Investing Activities -11.50M -54.40M -43.60M
Cash From Financing Activities -197.6M 173.9M 36.00M
Net Change In Cash -180.4M 145.5M 18.60M
YoY Change 86.69% 546.67% 46.46%
FREE CASH FLOW
Cash From Operating Activities $28.70M $26.00M $26.20M
Capital Expenditures -$11.50M -$8.800M -$7.100M
Free Cash Flow $40.20M $34.80M $33.30M
YoY Change 173.19% 17.57% 656.82%

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CY2020 us-gaap Nature Of Operations
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Description of Business<div style="text-indent:22.5pt;text-align:justify;margin-top:5pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Mercury Systems, Inc. (the “Company” or “Mercury”) is a leading technology company serving the aerospace and defense electronics industry, positioned at the intersection of high-tech and defense. Headquartered in Andover, Massachusetts, the Company delivers solutions that power a broad range of aerospace and defense programs, optimized for mission success in some of the most challenging and demanding environments. The Company envisions, creates and delivers innovative technology solutions purpose-built to meet our customers’ most-pressing high-tech needs, including those specific to the defense community. </span></div><div style="text-indent:22.5pt;text-align:justify;margin-top:5pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">As a leading manufacturer of essential components, modules and subsystems, the Company sells to defense prime contractors, the U.S. government and original equipment manufacturers (“OEM”) commercial aerospace companies. The Company has built a trusted, contemporary portfolio of proven product solutions purpose-built for aerospace and defense that it believes meets and exceeds the performance needs of its defense and commercial customers. Customers add their own applications and algorithms to our specialized, secure and innovative pre-integrated solutions. This allows them to complete their full system by integrating with their platform, the sensor technology and, in some cases, the processing from Mercury, with their platform. The Company's products and solutions are deployed in more than 300 programs with over 25 different defense prime contractors and commercial aviation customers. </span></div><div style="text-indent:22.5pt;text-align:justify;margin-top:5pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The Company's transformational business model accelerates the process of making new technology profoundly more accessible to its customers by bridging the gap between commercial technology and aerospace and defense applications. The Company's long-standing deep relationships with leading high-tech companies, coupled with the Company's high level of research and development (“R&amp;D”) investments and industry-leading trusted and secure design and manufacturing capabilities, are the foundational tenets of this highly successful model.</span></div><div style="text-indent:22.5pt;text-align:justify;margin-top:5pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The Company's capabilities, technology and R&amp;D investment strategy combine to differentiate Mercury in its industry. The Company's technologies and capabilities include secure embedded processing modules and subsystems, mission computers, secure and rugged rack-mount servers, safety-critical avionics, radio frequency (“RF”) components, multi-function assemblies, subsystems and custom microelectronics. The Company maintains our technological edge by investing in critical capabilities and intellectual property (“IP” or “building blocks”) in processing and RF, leveraging open standards and open architectures to adapt quickly those building blocks into solutions for highly data-intensive applications, including emerging needs in areas such as artificial intelligence (“AI”).</span></div><div style="text-indent:22.5pt;text-align:justify;margin-top:5pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The Company's mission critical solutions are deployed by its customers for a variety of applications including command, control, communications, computers, intelligence, surveillance and reconnaissance (“C4ISR”), electronic intelligence, avionics, electro-optical/infrared (“EO/IR”), electronic warfare, weapons and missile defense, hypersonics and radar.</span></div><div style="text-indent:22.5pt;text-align:justify;margin-top:5pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">On September 23, 2019, the Company acquired American Panel Corporation (“APC”) on a cash-free, debt-free basis for a total purchase price of $100,000, prior to net working capital and net debt adjustments. Based in Alpharetta, Georgia, APC is a leading innovator in large area display technology for the aerospace and defense market. APC's capabilities are deployed on a wide range of next-generation platforms.</span></div><div style="text-indent:22.5pt;text-align:justify;margin-top:5pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">On May 20, 2019, the Company announced the commencement of an underwritten public offering of its common stock, par value $0.01 per share. On May 31, 2019 the Company closed the offering, including the full over-allotment allocation, selling an aggregate of 6,900 shares of common stock at a price to the public of $69.00 for total net proceeds of $454,343. </span></div><div style="text-indent:22.5pt;text-align:justify;margin-top:6pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">On April 18, 2019, the Company acquired The Athena Group, Inc. (“Athena”) and Syntonic Microwave LLC (“Syntonic”) on a cash-free, debt-free basis for a combined total purchase price of $46,000, prior to net working capital and net debt adjustments. Athena was a privately-held company based in Gainesville, Florida and a leading provider of cryptographic and countermeasure IP vital to securing defense computing systems. Syntonic was a privately held company based in Campbell, California and a leading provider of advanced synthesizers, wideband phase coherent tuners and microwave converters optimized for signals intelligence and electronic intelligence applications demanding frequency coverage up to 40 GHz with 2 GHz instantaneous bandwidth. </span></div><div style="text-indent:22.5pt;text-align:justify;margin-top:6pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">On January 29, 2019, the Company acquired GECO Avionics, LLC (“GECO”) on a cash-free, debt-free basis for a total purchase price of $36,500. Based in Mesa, Arizona, GECO has over twenty years of experience designing and manufacturing affordable safety-critical avionics and mission computing solutions. </span></div>On July 31, 2018, the Company acquired Germane Systems, LC (“Germane”) on a cash-free, debt-free basis for a total purchase price of $45,000, prior to net working capital and net debt adjustments. Based in Chantilly, Virginia, Germane is an industry leader in the design, development and manufacturing of rugged servers, computers and storage systems for command, control and intelligence (“C2I”) applications. For further details on the acquisitions, see Note C to the consolidated financial statements.
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<div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">U</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%;">SE</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;"> </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%;">OF</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;"> E</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%;">STIMATES</span></div><div style="text-indent:24.75pt;text-align:justify;margin-top:5pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The preparation of financial statements in conformity with Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.</span></div>
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CY2020 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="text-align:justify;margin-top:9pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;">C</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%;">ONCENTRATION</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;"> </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%;">OF</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;"> C</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%;">REDIT</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;"> R</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%;">ISK</span></div><div style="text-indent:24.75pt;text-align:justify;margin-top:5pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash, cash equivalents and accounts receivable. The Company places its cash and cash equivalents with financial institutions of high credit quality. As of July 3, 2020 and June 30, 2019, the Company had $226,838 and $257,932, respectively, of cash and cash equivalents on deposit or invested with its financial and lending institutions.</span></div><div style="text-indent:22.5pt;text-align:justify;margin-top:5pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The Company provides credit to customers in the normal course of business. The Company performs ongoing credit evaluations of its customers’ financial condition and limits the amount of credit extended when deemed necessary. As of July 3, 2020, five customers accounted for 52% of the Company's accounts receivable, unbilled receivables and costs in excess of billings. As of June 30, 2019, five customers accounted for 56% of the Company’s accounts receivable, unbilled receivables and costs in excess of billings. </span></div><div style="text-indent:24.75pt;text-align:justify;margin-top:5pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The Company maintains an allowance for doubtful accounts to provide for the estimated amount of receivables that will not be fully collected. The allowance is based on the assessment of the following factors; customer creditworthiness, historical payment experience, age of outstanding receivables and any applicable collateral.</span></div>
CY2020Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
226838000 USD
CY2019Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
257932000 USD
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2020 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P3Y
CY2020 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
905000 USD
CY2019 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
749000 USD
CY2018 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
733000 USD
CY2020Q3 mrcy Percentage Of Income Tax Examination Minimum Likelihood Of Tax Benefits Being Realized Upon Settlement
PercentageOfIncomeTaxExaminationMinimumLikelihoodOfTaxBenefitsBeingRealizedUponSettlement
0.50
CY2019Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1870000 USD
CY2018Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1336000 USD
CY2017Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1691000 USD
CY2020 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2839000 USD
CY2019 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2274000 USD
CY2018 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1318000 USD
CY2020 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1613000 USD
CY2019 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1909000 USD
CY2018 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1790000 USD
CY2020Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
3835000 USD
CY2019Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1870000 USD
CY2018Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1336000 USD
CY2018 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
752000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55115000 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54546000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47831000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46719000 shares
CY2020 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
569000 shares
CY2019 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
669000 shares
CY2020Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
49647000 USD
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48500000 shares
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47471000 shares
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8000 shares
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
32000 shares
CY2018 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
329000 shares
CY2020Q3 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
174000 USD
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-232000 USD
CY2018Q2 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-137000 USD
CY2020Q3 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
-1768000 USD
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
-2350000 USD
CY2018Q2 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
354000 USD
CY2019Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
36500000 USD
CY2020 us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
4310000 USD
CY2020 us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
3810000 USD
CY2020 us-gaap Assets Fair Value Adjustment
AssetsFairValueAdjustment
2007000 USD
CY2020Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
111225000 USD
CY2019Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
84561000 USD
CY2019Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
38525000 USD
CY2020Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
17221000 USD
CY2019Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
14026000 USD
CY2020Q3 us-gaap Inventory Net
InventoryNet
178093000 USD
CY2019Q2 us-gaap Inventory Net
InventoryNet
137112000 USD
CY2020 mrcy Increase Decrease In Inventories Including Assets Acquired
IncreaseDecreaseInInventoriesIncludingAssetsAcquired
40981000 USD
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
219542000 USD
CY2019Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
172963000 USD
CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
131805000 USD
CY2019Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
112962000 USD
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
87737000 USD
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
60001000 USD
CY2020 us-gaap Property Plant And Equipment Gross Period Increase Decrease
PropertyPlantAndEquipmentGrossPeriodIncreaseDecrease
27736000 USD
CY2020 us-gaap Depreciation
Depreciation
18770000 USD
CY2019 us-gaap Depreciation
Depreciation
18478000 USD
CY2018 us-gaap Depreciation
Depreciation
16273000 USD
CY2019Q2 us-gaap Goodwill
Goodwill
562146000 USD
CY2020Q3 us-gaap Goodwill
Goodwill
614076000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
294657000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
85909000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
208748000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
268167000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
62043000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
206124000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
30326000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
29114000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
26857000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
23614000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
22034000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
76803000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
208748000 USD
CY2020 mrcy Restructuring Charges Net
RestructuringChargesNet
1805000 USD
CY2020 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
20 position
CY2020 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
20 position
CY2019 us-gaap Other Restructuring Costs
OtherRestructuringCosts
560000 USD
CY2018 us-gaap Other Restructuring Costs
OtherRestructuringCosts
3159000 USD
CY2018 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
38 position
CY2018Q2 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
1801000 USD
CY2019 us-gaap Restructuring Charges
RestructuringCharges
629000 USD
CY2019 us-gaap Payments For Restructuring
PaymentsForRestructuring
2357000 USD
CY2019 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-69000 USD
CY2019Q2 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
4000 USD
CY2020 us-gaap Restructuring Charges
RestructuringCharges
1805000 USD
CY2020 us-gaap Payments For Restructuring
PaymentsForRestructuring
1212000 USD
CY2020Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
597000 USD
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
60613000 USD
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6950000 USD
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
66981000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
73931000 USD
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
6929000 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
19942000 USD
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y3M18D
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0491
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
9572000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
10741000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
10272000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
9333000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
9356000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
44763000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
94037000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
20106000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
73931000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
10205000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
8949000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
8280000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
7414000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
6496000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
28286000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
28286000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
69630000 USD
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
10029000 USD
CY2019 us-gaap Operating Lease Expense
OperatingLeaseExpense
8710000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
93388000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
57281000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
43368000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
545000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
2246000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-795000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
93933000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
59527000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
42573000 USD
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
8442000 USD
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
11454000 USD
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
4470000 USD
CY2020 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
7365000 USD
CY2019 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
8446000 USD
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2370000 USD
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-2327000 USD
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-1077000 USD
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-3008000 USD
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-4527000 USD
CY2018 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
-57000 USD
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3407000 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
5194000 USD
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-1421000 USD
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-537000 USD
CY2020 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
1080000 USD
CY2019 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
3773000 USD
CY2018 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
1833000 USD
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
475000 USD
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
546000 USD
CY2018 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
186000 USD
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-699000 USD
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-13000 USD
CY2018 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-272000 USD
CY2020 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
-224000 USD
CY2019 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
533000 USD
CY2018 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
-86000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8221000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12752000 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1690000 USD
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.280
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.061
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.059
CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.056
CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.010
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment
0.119
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment
0.045
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment
0.051
CY2020 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.031
CY2019 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0
CY2018 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0
CY2020 mrcy Effective Income Tax Rate Reconciliation Excess Tax Benefits On Stock Compensation Percent
EffectiveIncomeTaxRateReconciliationExcessTaxBenefitsOnStockCompensationPercent
0.077
CY2019 mrcy Effective Income Tax Rate Reconciliation Excess Tax Benefits On Stock Compensation Percent
EffectiveIncomeTaxRateReconciliationExcessTaxBenefitsOnStockCompensationPercent
0.045
CY2018 mrcy Effective Income Tax Rate Reconciliation Excess Tax Benefits On Stock Compensation Percent
EffectiveIncomeTaxRateReconciliationExcessTaxBenefitsOnStockCompensationPercent
0.185
CY2020 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
0
CY2019 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
0
CY2018 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
0.020
CY2020 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
0
CY2019 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
0
CY2018 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
-0.019
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
0.001
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
0.001
CY2020 mrcy Effective Income Tax Rate Reconciliation Changes In Contingent Consideration
EffectiveIncomeTaxRateReconciliationChangesInContingentConsideration
-0.030
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.017
CY2018 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
0.003
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