MERIT MEDICAL SYSTEMS INC MMSI Balance Sheet

Merit medical systems inc (MMSI)

Balance Sheet / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Dec'10
ASSETS
CURRENT ASSETS:
Cash and cash equivalents
50,080	44,320	37,315	35,182	49,522	67,359	51,955	43,512	34,171	32,336	23,362	37,675	26,464	19,171	17,318	10,487	5,162	4,177	5,859	12,102	9,908	7,355	6,438	9,401	12,591	7,459	9,115	13,143	9,017	9,719	9,465	9,918	9,661	10,128	5,819	63,009	3,735
Trade receivables - net of allowance for uncollectible accounts - 2020 - $4,124 and 2019 - $3,108
150,050	155,365	144,683	156,444	146,488	137,174	129,282	131,943	119,146	105,536	101,394	103,689	95,252	80,521	79,697	76,792	71,574	70,292	68,003	67,397	70,499	72,717	69,387	67,345	64,326	60,186	57,279	58,416	54,624	53,402	47,720	47,808	45,599	40,550	40,579	41,889	37,362
Employee receivables
-	-	-	-	-	-	-	-	-	-	147	148	161	-	176	165	263	217	204	147	174	173	181	180	190	224	249	192	183	169	235	177	177	154	199	154	110
Other receivables
9,246	10,016	11,751	11,520	10,694	11,879	8,903	8,490	8,727	9,429	5,900	5,560	4,902	5,643	3,350	4,742	5,501	6,799	6,629	6,470	5,799	7,507	4,221	4,033	2,834	3,279	2,502	2,493	2,561	2,672	3,034	2,613	2,795	1,750	1,442	1,407	1,242
Inventories
227,776	225,698	216,766	202,994	198,922	197,536	181,439	169,254	166,716	155,288	145,598	136,684	134,310	120,695	116,908	109,858	110,726	105,999	100,318	92,721	88,256	91,773	92,931	86,471	84,730	82,378	81,057	81,560	82,450	84,599	78,795	71,002	70,455	69,911	66,557	62,724	60,597
Prepaid expenses and other current assets
16,284	12,497	17,610	12,305	11,220	11,326	11,720	12,142	10,360	9,096	20,581	9,105	7,778	6,226	7,005	7,829	6,181	5,634	5,491	5,637	4,999	5,012	5,687	5,477	5,767	5,121	4,922	4,761	5,344	4,133	4,371	4,077	4,436	3,775	4,302	4,429	2,089
Prepaid income taxes
3,486	3,491	3,611	3,625	3,620	3,627	3,307	3,292	3,323	3,225	2,792	2,656	2,604	2,525	3,059	3,044	3,049	2,955	1,238	1,237	1,221	1,273	1,199	1,230	1,232	1,232	1,266	1,242	1,233	1,250	881	912	891	883	-	-	452
Deferred income tax assets
-	-	-	-	-	-	-	-	-	-	0	0	0	8,219	6,408	7,017	7,049	7,025	6,231	6,375	6,369	6,375	5,626	5,619	5,617	5,638	4,989	4,982	4,974	4,976	3,705	3,700	3,707	3,704	4,591	4,653	4,647
Income tax refund receivables
5,586	3,151	9,566	4,876	1,317	933	1,043	2,331	1,327	1,211	91	43	680	423	373	43	504	905	374	271	685	155	315	297	211	398	1,102	511	1,752	1,076	672	906	1,310	2,797	467	302	2,067
Total current assets
462,508	454,538	441,302	426,946	421,783	429,834	387,649	370,964	343,770	316,121	299,865	295,560	272,151	243,423	234,294	219,977	210,009	204,003	194,347	192,357	187,910	192,340	185,985	180,053	177,498	165,915	162,481	167,300	162,138	161,996	148,878	141,113	139,031	133,652	123,956	178,567	112,301
PROPERTY AND EQUIPMENT:
Land and land improvements
27,695	27,554	27,412	27,651	26,764	26,801	26,926	26,940	27,285	19,877	19,804	19,680	19,454	19,379	19,539	19,400	19,464	19,307	18,963	16,798	16,645	16,830	16,948	17,214	16,265	16,240	17,989	17,979	17,980	17,346	16,595	16,905	16,288	16,288	15,752	13,036	12,586
Buildings
153,896	153,863	152,782	153,502	152,974	151,251	150,880	150,726	148,278	147,356	144,084	143,059	141,065	139,119	139,559	139,140	137,890	136,595	134,647	133,685	129,486	130,447	132,282	129,967	129,702	127,747	126,340	126,562	122,704	81,223	80,380	79,916	62,060	59,905	51,072	50,961	50,274
Manufacturing equipment
247,878	244,368	234,121	230,315	225,402	221,029	211,215	205,911	204,053	197,651	193,061	188,329	186,323	178,110	171,308	166,034	161,503	158,775	155,283	151,363	147,837	145,022	144,435	145,473	141,982	136,768	136,013	126,592	122,965	117,601	109,465	106,401	104,555	103,629	101,660	97,032	92,839
Furniture and fixtures
58,955	57,623	59,487	57,565	55,378	54,765	53,869	52,649	50,840	49,528	49,035	46,795	45,302	43,433	43,425	42,478	40,904	39,301	38,946	37,056	35,761	35,201	36,566	35,166	34,105	32,327	32,154	31,412	30,484	26,307	25,642	24,225	23,348	22,559	21,302	20,091	18,313
Leasehold improvements
43,950	43,311	36,992	34,518	34,221	33,678	33,365	33,029	32,109	31,161	31,345	30,778	30,633	30,413	29,519	29,267	28,350	27,561	26,948	16,568	16,048	16,096	15,159	14,651	13,712	13,692	14,184	14,098	13,385	13,236	12,949	12,856	12,795	12,659	12,632	12,438	12,121
Construction-in-progress
91,802	83,685	85,703	69,370	61,304	53,491	48,166	40,454	32,986	32,896	34,625	31,975	29,259	28,180	33,073	31,795	30,837	26,292	24,362	30,458	25,341	21,858	23,371	26,911	25,582	25,172	43,276	43,054	35,658	74,643	64,229	54,649	59,800	47,534	41,517	31,371	13,775
Total property and equipment
624,176	610,404	596,497	572,921	556,043	541,015	524,421	509,709	495,551	478,469	471,954	460,616	452,036	438,634	436,423	428,114	418,948	407,831	399,149	385,928	371,118	365,454	368,761	369,382	361,348	351,946	369,956	359,697	343,176	330,356	309,260	294,952	278,846	262,574	243,935	224,929	199,908
Less accumulated depreciation
239,316	231,619	229,596	222,402	215,279	209,563	204,496	197,941	191,826	185,649	181,672	175,413	168,652	162,061	157,797	151,628	146,057	140,053	136,588	131,524	125,963	121,283	121,106	118,509	113,363	108,676	107,993	103,679	99,646	95,553	93,314	89,630	86,138	83,434	81,412	78,176	71,853
Property and equipment - net
384,860	378,785	366,901	350,519	340,764	331,452	319,925	311,768	303,725	292,820	290,282	285,203	283,384	276,573	278,626	276,486	272,891	267,778	262,561	254,404	245,155	244,171	247,655	250,873	247,985	243,270	261,963	256,018	243,530	234,803	215,946	205,322	192,708	179,140	162,523	146,753	128,055
OTHER ASSETS:
Intangible assets
-	-	-	74,419	77,104	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	34,273
Other - net of accumulated amortization - 2011-$10,215 and 2010 - $6,695
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	58,544	61,335	22,911
Goodwill
352,242	353,193	352,158	352,133	334,951	335,433	249,023	248,998	244,125	238,147	234,043	226,829	219,911	211,927	213,069	187,034	187,047	184,472	184,484	184,423	184,405	184,464	184,505	184,505	184,505	184,505	175,489	175,108	175,108	175,108	65,854	65,574	65,574	61,144	61,144	58,659	58,675
Deferred income tax assets
3,716	3,788	2,944	3,038	3,083	3,001	2,254	2,318	2,441	2,359	2,046	1,997	2,047	171	-	-	-	0	9	9	9	9	799	800	800	800	4,237	4,237	4,237	4,237	5,365	5,365	5,365	5,366	4,613	4,296	4,140
Right-of-use operating lease assets
79,133	80,244	79,757	79,309	80,453	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	920	3,064	2,798	-	-	0
Other assets
36,569	41,461	59,735	58,255	60,052	57,579	61,927	58,075	37,271	35,040	32,412	31,056	29,098	28,012	16,296	14,770	13,664	13,121	14,625	17,693	15,654	15,873	16,328	14,544	14,328	13,806	12,208	13,018	11,211	11,034	10,127	8,684	8,684	8,248	8,053	8,603	9,125
Total other assets
901,904	923,998	953,501	958,805	927,246	858,726	602,309	608,459	591,714	502,870	497,004	471,088	459,646	422,807	415,679	318,502	320,520	306,947	311,131	308,361	306,959	310,654	312,869	313,194	316,327	319,098	293,739	305,066	306,471	308,510	154,362	153,721	157,664	134,225	132,354	132,893	129,124
TOTAL ASSETS
1,749,272	1,757,321	1,761,704	1,736,270	1,689,793	1,620,012	1,309,883	1,291,191	1,239,209	1,111,811	1,087,151	1,051,851	1,015,181	942,803	928,599	814,965	803,420	778,728	768,039	755,122	740,024	747,165	746,509	744,120	741,810	728,283	718,183	728,384	712,139	705,309	519,186	500,156	489,403	447,017	418,833	458,213	369,480
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Trade payables
56,012	54,623	52,387	52,601	51,680	54,024	50,697	50,823	43,739	34,931	32,291	36,671	32,625	30,619	30,192	31,286	39,104	37,977	32,324	27,793	24,525	29,810	26,709	28,180	27,236	26,511	23,637	34,622	25,296	34,637	27,050	24,042	22,880	22,727	23,129	19,120	20,092
Other Payables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,500	7,500	-	-	-	-
Accrued expenses
87,095	105,184	80,486	97,176	91,310	96,173	65,530	65,838	57,531	58,932	56,508	59,185	52,875	45,519	44,927	40,196	33,866	37,846	39,499	37,933	34,502	33,826	32,692	31,141	30,497	27,702	27,308	23,501	24,799	27,269	24,007	21,044	20,958	20,197	21,404	19,642	18,890
Current portion of long-term debt
7,500	7,500	7,500	15,000	22,000	22,000	22,000	21,985	20,733	19,459	16,962	16,969	16,998	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	-	-	-	0	-	-	-
Short-term operating lease liabilities
11,670	11,550	11,652	11,732	11,825	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advances from employees
-	-	-	-	-	-	-	-	-	-	542	192	479	-	544	473	207	589	540	642	761	381	894	660	803	292	729	686	627	551	630	248	644	225	798	183	307
Income taxes payable
3,014	2,799	1,188	42	1,644	3,146	1,598	948	2,397	2,298	1,435	1,910	2,120	2,193	809	3,138	2,145	1,498	3,528	2,978	1,953	1,413	3,805	1,161	912	1,089	1,871	999	507	547	842	769	733	646	2,967	1,019	887
Total current liabilities
165,291	181,656	153,213	176,551	178,459	175,343	139,825	139,594	124,400	115,620	107,738	114,927	105,097	88,331	86,472	85,093	85,322	87,910	85,891	79,346	71,741	75,430	74,100	71,142	69,448	65,594	63,545	69,808	61,229	73,004	52,529	52,603	52,715	43,795	48,298	39,964	40,176
LONG-TERM DEBT
438,137	431,984	432,456	385,221	362,187	373,152	186,867	391,582	365,797	259,013	260,978	224,943	220,408	314,373	317,760	221,719	218,402	197,593	200,218	199,774	202,878	214,490	230,484	238,375	244,441	238,854	241,157	246,828	244,254	227,566	64,500	56,620	52,524	30,737	5,619	55,000	81,538
DEFERRED INCOME TAX LIABILITIES
45,027	45,236	58,290	60,932	56,324	56,363	23,102	23,148	23,330	23,289	23,764	23,354	20,482	25,981	21,886	11,024	11,099	10,985	6,179	6,177	6,082	6,385	2,335	2,533	2,548	2,548	2,436	2,338	2,305	2,373	2,135	2,108	2,166	2,112	1,449	1,530	1,267
LONG-TERM INCOME TAXES PAYABLE
347	347	392	392	392	392	4,846	4,846	4,846	4,846	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
LIABILITIES RELATED TO UNRECOGNIZED TAX BENEFITS
1,990	1,990	3,013	3,013	3,013	3,013	2,746	2,746	2,746	2,746	438	438	438	438	402	768	768	768	648	1,353	1,353	1,353	1,187	1,767	2,031	2,031	2,035	2,938	2,938	2,938	2,495	3,322	3,489	3,489	2,417	3,527	3,527
DEFERRED COMPENSATION PAYABLE
14,066	14,855	13,497	12,739	12,480	11,200	12,176	11,620	11,185	11,200	10,319	9,725	9,399	9,211	9,000	9,103	8,195	8,500	8,934	9,458	9,108	8,635	8,477	8,365	8,116	7,833	6,821	6,603	6,237	5,956	5,422	5,017	5,066	4,585	4,382	4,668	4,258
DEFERRED CREDITS
2,088	2,122	2,157	2,192	2,227	2,261	2,296	2,332	2,367	2,403	2,439	2,474	2,510	2,550	2,593	2,635	2,678	2,721	2,763	2,806	2,849	2,891	2,934	2,977	3,019	3,065	3,107	2,989	3,022	2,980	2,971	1,870	1,960	1,984	1,682	1,709	1,763
LONG-TERM OPERATING LEASE LIABILITIES
71,642	72,714	72,056	71,272	72,243	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
OTHER LONG-TERM OBLIGATIONS
70,886	56,473	77,389	73,283	62,357	65,494	14,814	16,069	16,027	16,379	14,659	9,508	4,505	3,730	4,546	4,633	4,632	4,148	4,849	3,410	3,313	2,722	2,741	3,060	2,578	2,652	3,456	7,331	8,822	8,915	8,101	8,064	7,692	3,226	4,270	5,503	1,336
Total liabilities
809,474	807,377	812,463	785,595	749,682	687,237	386,672	591,937	550,698	435,477	420,335	385,369	362,839	444,614	442,659	334,975	331,096	312,625	309,482	302,324	297,324	311,906	322,258	328,219	332,181	322,577	322,557	338,835	328,807	323,732	138,153	129,604	125,612	89,928	68,117	111,901	133,865
COMMITMENTS AND CONTINGENCIES (Notes 4, 8, 9 and 10)
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	0	-	-	-	0	-	-	0
STOCKHOLDERS' EQUITY:
Preferred stock - 5,000 shares authorized as of March 31, 2020 and December 31, 2019; no shares issued
0	0	0	0	0	0	0	0	0	0	-	-	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Common stock, no par value; shares authorized - 2020 and 2019 - 100,000; issued and outstanding as of March 31, 2020 - 55,338 and December 31, 2019 - 55,213
590,065	587,017	584,161	579,250	574,946	571,383	568,051	359,570	356,228	353,392	351,321	348,051	344,497	206,186	204,601	200,015	199,003	197,826	196,330	194,698	192,730	187,709	182,614	181,983	178,866	177,775	174,551	173,974	173,424	172,341	171,440	167,877	166,908	166,231	165,011	164,443	67,091
Retained earnings
364,492	368,221	373,174	376,572	369,713	363,425	354,236	337,618	326,677	321,408	314,602	318,171	308,688	293,885	286,378	285,405	278,115	273,764	267,355	262,537	255,136	249,962	241,291	233,527	229,811	226,988	220,448	214,841	211,089	210,418	209,777	202,551	196,456	190,708	185,738	181,175	167,664
Accumulated other comprehensive loss
-14,759	-5,294	-8,094	-5,147	-4,548	-2,033	924	2,066	5,606	1,534	893	260	-843	-1,882	-5,039	-5,430	-4,794	-5,487	-5,128	-4,437	-5,166	-2,412	346	391	952	943	627	734	-1,181	-1,182	-184	124	427	150	-33	694	860
Total stockholders' equity
939,798	949,944	949,241	950,675	940,111	932,775	923,211	699,254	688,511	676,334	666,816	666,482	652,342	498,189	485,940	479,990	472,324	466,103	458,557	452,798	442,700	435,259	424,251	415,901	409,629	405,706	395,626	389,549	383,332	381,577	381,033	370,552	363,791	357,089	350,716	346,312	235,615
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
1,749,272	1,757,321	1,761,704	1,736,270	1,689,793	1,620,012	1,309,883	1,291,191	1,239,209	1,111,811	1,087,151	1,051,851	1,015,181	942,803	928,599	814,965	803,420	778,728	768,039	755,122	740,024	747,165	746,509	744,120	741,810	728,283	718,183	728,384	712,139	705,309	519,186	500,156	489,403	447,017	418,833	458,213	369,480
Developed technology
Intangible assets
366,551	379,529	390,796	391,651	371,603	383,147	224,540	232,880	241,677	167,771	172,796	157,525	156,414	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
Intangible assets
63,693	65,783	68,111	74,419	77,104	79,566	64,565	66,188	66,200	59,553	55,707	53,681	52,176	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-