$ISRG
INTUITIVE SURGICAL INC

2014 Q1 Form 10-Q Financial Statement

#000103526714000053 Filed on April 25, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $464.7M $611.4M
YoY Change -23.99% 23.47%
Cost Of Revenue $149.3M $177.1M
YoY Change -15.7% 27.14%
Gross Profit $315.4M $434.3M
YoY Change -27.38% 22.03%
Gross Profit Margin 67.87% 71.03%
Selling, General & Admin $215.8M $141.5M
YoY Change 52.51% 13.93%
% of Gross Profit 68.42% 32.58%
Research & Development $43.00M $41.60M
YoY Change 3.37% 8.33%
% of Gross Profit 13.63% 9.58%
Depreciation & Amortization $12.30M $10.40M
YoY Change 18.27% 38.67%
% of Gross Profit 3.9% 2.39%
Operating Expenses $258.8M $183.1M
YoY Change 41.34% 12.61%
Operating Profit $56.60M $251.2M
YoY Change -77.47% 29.95%
Interest Expense $3.900M $4.300M
YoY Change -9.3% 13.16%
% of Operating Profit 6.89% 1.71%
Other Income/Expense, Net $3.900M $4.300M
YoY Change -9.3% 13.16%
Pretax Income $60.50M $255.5M
YoY Change -76.32% 29.63%
Income Tax $16.20M $66.60M
% Of Pretax Income 26.78% 26.07%
Net Earnings $44.30M $188.9M
YoY Change -76.55% 31.64%
Net Earnings / Revenue 9.53% 30.9%
Basic Earnings Per Share $1.16 $4.69
Diluted Earnings Per Share $1.13 $4.56
COMMON SHARES
Basic Shares Outstanding 38.30M shares 40.30M shares
Diluted Shares Outstanding 39.10M shares 41.40M shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.559B $1.358B
YoY Change 14.8% 39.86%
Cash & Equivalents $814.0M $427.5M
Short-Term Investments $745.0M $931.0M
Other Short-Term Assets $94.00M $56.00M
YoY Change 67.86% 21.74%
Inventory $185.5M $135.5M
Prepaid Expenses
Receivables $239.1M $345.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.078B $1.895B
YoY Change 9.65% 31.94%
LONG-TERM ASSETS
Property, Plant & Equipment $320.8M $249.9M
YoY Change 28.37% 19.0%
Goodwill $10.10M $138.0M
YoY Change -92.68%
Intangibles
YoY Change
Long-Term Investments $1.404B $1.758B
YoY Change -20.14% 25.57%
Other Assets $132.0M $96.00M
YoY Change 37.5% 41.18%
Total Long-Term Assets $2.117B $2.341B
YoY Change -9.59% 23.41%
TOTAL ASSETS
Total Short-Term Assets $2.078B $1.895B
Total Long-Term Assets $2.117B $2.341B
Total Assets $4.194B $4.236B
YoY Change -0.98% 27.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $57.00M $67.90M
YoY Change -16.05% 35.8%
Accrued Expenses $176.0M $118.0M
YoY Change 49.15% 14.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $459.5M $377.6M
YoY Change 21.69% 20.25%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $78.10M $86.00M
YoY Change -9.19% -6.52%
Total Long-Term Liabilities $78.10M $86.00M
YoY Change -9.19% -6.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $459.5M $377.6M
Total Long-Term Liabilities $78.10M $86.00M
Total Liabilities $537.6M $463.6M
YoY Change 15.96% 14.19%
SHAREHOLDERS EQUITY
Retained Earnings $1.024B $1.386B
YoY Change -26.12%
Common Stock $2.629B $2.379B
YoY Change 10.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.657B $3.772B
YoY Change
Total Liabilities & Shareholders Equity $4.194B $4.236B
YoY Change -0.98% 27.09%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $44.30M $188.9M
YoY Change -76.55% 31.64%
Depreciation, Depletion And Amortization $12.30M $10.40M
YoY Change 18.27% 38.67%
Cash From Operating Activities $166.3M $258.0M
YoY Change -35.54% 56.36%
INVESTING ACTIVITIES
Capital Expenditures -$20.60M -$16.70M
YoY Change 23.35% -65.42%
Acquisitions $12.50M
YoY Change
Other Investing Activities -$184.7M -$331.3M
YoY Change -44.25% -7.95%
Cash From Investing Activities -$205.3M -$348.0M
YoY Change -41.01% -14.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $145.7M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $70.60M -$35.80M
YoY Change -297.21% -134.72%
NET CHANGE
Cash From Operating Activities $166.3M $258.0M
Cash From Investing Activities -$205.3M -$348.0M
Cash From Financing Activities $70.60M -$35.80M
Net Change In Cash $31.60M -$125.8M
YoY Change -125.12% -10.21%
FREE CASH FLOW
Cash From Operating Activities $166.3M $258.0M
Capital Expenditures -$20.60M -$16.70M
Free Cash Flow $186.9M $274.7M
YoY Change -31.96% 28.79%

Facts In Submission

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CY2014Q1 us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">DESCRIPTION OF BUSINESS</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Intuitive designs, manufactures and markets </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">da Vinci</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;"> Surgical Systems and related instruments and accessories, which taken together, are advanced surgical systems that the Company considers a new generation of surgery. This new generation of surgery, which the Company calls </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">da Vinci</font><font style="font-family:inherit;font-size:10pt;"> surgery, combines the benefits of minimally invasive surgery (&#8220;MIS&#8221;) for patients with the ease of use, precision and dexterity of open surgery. A </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">da Vinci</font><font style="font-family:inherit;font-size:10pt;"> Surgical System consists of a surgeon&#8217;s console, a patient-side cart and a high performance vision system. The </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">da Vinci</font><font style="font-family:inherit;font-size:10pt;"> Surgical Systems translate a surgeon&#8217;s natural hand movements, which are performed on instrument controls at a console, into corresponding micro-movements of instruments positioned inside the patient through small incisions, or ports. The </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">da Vinci</font><font style="font-family:inherit;font-size:10pt;"> Surgical Systems are designed to provide its operating surgeons with intuitive control, range of motion, fine tissue manipulation capability and Three Dimensional (&#8220;3-D&#8221;), High-Definition (&#8220;HD&#8221;) vision while simultaneously allowing surgeons to work through the small ports enabled by MIS procedures.</font></div></div>
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-35800000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
70600000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-348000000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-205300000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
258000000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
166300000 USD
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
188900000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
44300000 USD
CY2014Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
3900000 USD
CY2013Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
4300000 USD
CY2013Q1 us-gaap Operating Expenses
OperatingExpenses
183100000 USD
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
258800000 USD
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
251200000 USD
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
56600000 USD
CY2013Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
0 USD
CY2014Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-2600000 USD
CY2013Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-400000 USD
CY2014Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
300000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
3900000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
900000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
3800000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1100000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
200000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
800000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-400000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
300000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
0 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationNetOfTax
0 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1500000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1700000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsNetOfTax
0 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsNetOfTax
-2600000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
100000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
-200000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
300000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
600000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
0 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
0 USD
CY2013Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
1400000 USD
CY2014Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
500000 USD
CY2014Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
600000 USD
CY2014Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
120600000 USD
CY2013Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
63900000 USD
CY2013Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
68000000 USD
CY2014Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
78100000 USD
CY2013Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
145700000 USD
CY2014Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2013Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
576000000 USD
CY2014Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
433200000 USD
CY2013Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
16700000 USD
CY2014Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
20600000 USD
CY2014Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2014Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2500000.0 shares
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2500000.0 shares
CY2013Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
38300000 USD
CY2014Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
58800000 USD
CY2013Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
194700000 USD
CY2014Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
195200000 USD
CY2013Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
50000000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
53300000 USD
CY2014Q1 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
66300000 USD
CY2013Q1 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
89300000 USD
CY2014Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
320800000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
309900000 USD
CY2013Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
400000 USD
CY2014Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
400000 USD
CY2013Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
41600000 USD
CY2014Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
43000000 USD
CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1023700000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
979400000 USD
CY2013Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
517000000 USD
CY2014Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
360800000 USD
CY2013Q1 us-gaap Sales Revenue Net
SalesRevenueNet
611400000 USD
CY2014Q1 us-gaap Sales Revenue Net
SalesRevenueNet
464700000 USD
CY2013Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
94400000 USD
CY2014Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
103900000 USD
CY2014Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
215800000 USD
CY2013Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
141500000 USD
CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
38200000 USD
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
40800000 USD
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3300000 shares
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
334.50
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
100000 shares
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
300000 shares
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5600000 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5600000 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
380.71
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
385.42
CY2014Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
281.34
CY2014Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
470.40
CY2014Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
440.40
CY2014Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
200000 shares
CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
3656600000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
3501400000 USD
CY2014Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
75900000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
74000000 USD
CY2014Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
3700000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
3400000 USD
CY2014Q1 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
1900000 USD
CY2014Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
800000 shares
CY2013Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1100000 shares
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39100000 shares
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41400000 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40300000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38300000 shares
CY2013Q4 isrg Accumulated Other Comprehensive Income Loss Availableforsale Securities Adjustment Before Tax
AccumulatedOtherComprehensiveIncomeLossAvailableforsaleSecuritiesAdjustmentBeforeTax
1600000 USD
CY2014Q1 isrg Accumulated Other Comprehensive Income Loss Availableforsale Securities Adjustment Before Tax
AccumulatedOtherComprehensiveIncomeLossAvailableforsaleSecuritiesAdjustmentBeforeTax
2700000 USD
CY2014Q1 isrg Accumulated Other Comprehensive Income Loss Availableforsale Securities Adjustment Tax
AccumulatedOtherComprehensiveIncomeLossAvailableforsaleSecuritiesAdjustmentTax
1100000 USD
CY2013Q4 isrg Accumulated Other Comprehensive Income Loss Availableforsale Securities Adjustment Tax
AccumulatedOtherComprehensiveIncomeLossAvailableforsaleSecuritiesAdjustmentTax
700000 USD
CY2014Q1 isrg Available For Sale Securities Debt Maturities After Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveYearsAmortizedCost
8000000 USD
CY2014Q1 isrg Available For Sale Securities Debt Maturities After Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveYearsFairValue
8000000 USD
CY2014Q1 isrg Available For Sale Securities Debt Maturities Fair Value Total
AvailableForSaleSecuritiesDebtMaturitiesFairValueTotal
2230600000 USD
CY2013Q4 isrg Availableforsale Securities Gross Unrealized Gain Accumulatedin Investments
AvailableforsaleSecuritiesGrossUnrealizedGainAccumulatedinInvestments
5300000 USD
CY2014Q1 isrg Availableforsale Securities Gross Unrealized Gain Accumulatedin Investments
AvailableforsaleSecuritiesGrossUnrealizedGainAccumulatedinInvestments
5100000 USD
CY2013Q4 isrg Availableforsale Securities Gross Unrealized Loss Accumulatedin Investments
AvailableforsaleSecuritiesGrossUnrealizedLossAccumulatedinInvestments
3700000 USD
CY2014Q1 isrg Availableforsale Securities Gross Unrealized Loss Accumulatedin Investments
AvailableforsaleSecuritiesGrossUnrealizedLossAccumulatedinInvestments
2400000 USD
CY2014Q1 isrg Intangible And Other Assets
IntangibleAndOtherAssets
112400000 USD
CY2013Q4 isrg Intangible And Other Assets
IntangibleAndOtherAssets
94100000 USD
CY2014Q1 isrg Numberof Claims Reportedand Consolidated
NumberofClaimsReportedandConsolidated
1406 lawsuit
isrg Numberof Surgeries Performedwithda Vinci Surgical Systemin United States
NumberofSurgeriesPerformedwithdaVinciSurgicalSysteminUnitedStates
1700000 surgery
CY2013Q1 isrg Other Comprehensive Income Loss Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationAdjustmentsNetOfTax
1900000 USD
CY2014Q1 isrg Other Comprehensive Income Loss Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationAdjustmentsNetOfTax
2100000 USD
CY2014Q1 isrg Share Based Compensation Arrangement By Share Based Payment Award Options Additional Shares Authorized Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalSharesAuthorizedWeightedAverageExercisePrice
0.00
CY2014Q1 isrg Share Based Compensation Arrangement By Share Based Payment Award Options Available For Grant Additional Shares Authorized In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAvailableForGrantAdditionalSharesAuthorizedInPeriod
0 shares
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001035267
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
38403653 shares
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
INTUITIVE SURGICAL INC
CY2014Q1 dei Trading Symbol
TradingSymbol
ISRG
CY2013Q4 invest Derivative Notional Amount
DerivativeNotionalAmount
59000000
CY2013Q4 invest Derivative Notional Amount
DerivativeNotionalAmount
4400000000
CY2014Q1 invest Derivative Notional Amount
DerivativeNotionalAmount
621200000
CY2014Q1 invest Derivative Notional Amount
DerivativeNotionalAmount
29500000

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