XML 130 R18.htm IDEA: XBRL DOCUMENT
v3.25.2

Earnings Per Common Share (EPS) | 6 Months Ended
--- | ---
Jun. 30, 2025
Earnings Per Share [Abstract] |
Earnings Per Common Share (EPS) | 11. Earnings Per Common Share (EPS). The computation of weighted average shares outstanding and the basic and diluted earnings per common share for the three and six-month periods ended June 30, 2025 and 2024 consisted of the following (in thousands, except per share amounts): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, | ​ | June 30,
​ | ​ | 2025 | ​ | 2024 | ​ | 2025 | ​ | 2024
Net income | ​ | $ | 32,581 | ​ | $ | 35,726 | ​ | $ | 62,728 | ​ | $ | 63,966
Average common shares outstanding | ​ |  | 59,140 | ​ |  | 58,139 | ​ |  | 59,019 | ​ |  | 58,049
Basic EPS | ​ | $ | 0.55 | ​ | $ | 0.61 | ​ | $ | 1.06 | ​ | $ | 1.10
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Average common shares outstanding | ​ | ​ | 59,140 | ​ | ​ | 58,139 | ​ | ​ | 59,019 | ​ | ​ | 58,049
Effect of dilutive stock awards | ​ | ​ | 751 | ​ | ​ | 601 | ​ | ​ | 884 | ​ | ​ | 604
Effect of dilutive convertible notes | ​ | ​ | 720 | ​ | ​ | — | ​ | ​ | 1,042 | ​ | ​ | —
Total potential shares outstanding | ​ | ​ | 60,611 | ​ | ​ | 58,740 | ​ | ​ | 60,945 | ​ | ​ | 58,653
Diluted EPS | ​ | $ | 0.54 | ​ | $ | 0.61 | ​ | $ | 1.03 | ​ | $ | 1.09
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity awards excluded as the impact was anti-dilutive (1) | ​ | ​ | 245 | ​ | ​ | 802 | ​ | ​ | 165 | ​ | ​ | 1,009
(1) | Does not reflect the impact of incremental repurchases under the treasury stock method.
Convertible Notes For our Convertible Notes, the dilutive effect has been calculated using the if-converted method. Upon surrender of the Convertible Notes for conversion, Merit will pay cash up to the aggregate principal amount of the Notes to be converted and pay or deliver, as the case may be, cash, shares of Common Stock or a combination of cash and shares of Common Stock, at Merit’s election, in respect of the remainder, if any, of Merit’s conversion obligation in excess of the aggregate principal amount of the Convertible Notes being converted. Under the if-converted method, we include the number of shares required to satisfy the remaining conversion obligation, assuming all the Convertible Notes were converted. The convertible notes only have an impact on diluted earnings per share when the average share price of our Common Stock exceeds the conversion price of $86.83. The average closing price of the Common Stock for the three and six-month periods ended June 30, 2025 and 2024, respectively, was used as the basis for determining the dilutive effect on EPS.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration