2014 Q2 Form 10-K Financial Statement

#000103526715000014 Filed on February 06, 2015

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q4
Revenue $512.2M $464.7M $576.2M
YoY Change -11.46% -23.99% -5.43%
Cost Of Revenue $167.8M $149.3M $178.2M
YoY Change -3.17% -15.7% 3.97%
Gross Profit $344.4M $315.4M $398.0M
YoY Change -15.0% -27.38% -9.11%
Gross Profit Margin 67.24% 67.87% 69.07%
Selling, General & Admin $161.2M $215.8M $147.7M
YoY Change 10.79% 52.51% -0.27%
% of Gross Profit 46.81% 68.42% 37.11%
Research & Development $40.20M $43.00M $41.70M
YoY Change -2.43% 3.37% 0.0%
% of Gross Profit 11.67% 13.63% 10.48%
Depreciation & Amortization $17.20M $12.30M $18.10M
YoY Change 3.61% 18.27% 17.53%
% of Gross Profit 4.99% 3.9% 4.55%
Operating Expenses $201.4M $258.8M $189.4M
YoY Change 7.87% 41.34% -0.21%
Operating Profit $143.0M $56.60M $208.6M
YoY Change -34.55% -77.47% -15.92%
Interest Expense -$400.0K $3.900M $5.900M
YoY Change -109.3% -9.3% 59.46%
% of Operating Profit -0.28% 6.89% 2.83%
Other Income/Expense, Net -$400.0K $3.900M
YoY Change -109.3% -9.3%
Pretax Income $142.6M $60.50M $214.5M
YoY Change -36.0% -76.32% -14.81%
Income Tax $38.60M $16.20M $48.30M
% Of Pretax Income 27.07% 26.78% 22.52%
Net Earnings $104.0M $44.30M $166.2M
YoY Change -34.63% -76.55% -4.97%
Net Earnings / Revenue 20.3% 9.53% 28.84%
Basic Earnings Per Share $2.82 $1.16 $4.36
Diluted Earnings Per Share $2.77 $1.13 $4.28
COMMON SHARES
Basic Shares Outstanding 36.90M shares 38.30M shares 38.06M shares
Diluted Shares Outstanding 37.60M shares 39.10M shares

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $979.0M $1.559B $1.404B
YoY Change -24.11% 14.8% 6.04%
Cash & Equivalents $507.6M $814.0M $782.1M
Short-Term Investments $471.0M $745.0M $621.0M
Other Short-Term Assets $81.00M $94.00M $48.00M
YoY Change 88.37% 67.86% -36.84%
Inventory $202.4M $185.5M $179.6M
Prepaid Expenses
Receivables $271.1M $239.1M $301.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.533B $2.078B $1.932B
YoY Change -17.6% 9.65% 2.09%
LONG-TERM ASSETS
Property, Plant & Equipment $326.7M $320.8M $309.9M
YoY Change 22.09% 28.37% 28.16%
Goodwill $50.50M $10.10M $137.4M
YoY Change -63.25% -92.68% -0.51%
Intangibles
YoY Change
Long-Term Investments $1.065B $1.404B $1.350B
YoY Change -38.69% -20.14% -15.41%
Other Assets $144.0M $132.0M $126.0M
YoY Change 35.85% 37.5% 44.83%
Total Long-Term Assets $1.871B $2.117B $2.018B
YoY Change -20.04% -9.59% -6.85%
TOTAL ASSETS
Total Short-Term Assets $1.533B $2.078B $1.932B
Total Long-Term Assets $1.871B $2.117B $2.018B
Total Assets $3.405B $4.194B $3.950B
YoY Change -18.96% -0.98% -2.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $58.90M $57.00M $46.20M
YoY Change -12.35% -16.05% -19.79%
Accrued Expenses $212.0M $176.0M $63.90M
YoY Change 66.93% 49.15% 17.68%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $495.9M $459.5M $380.9M
YoY Change 26.86% 21.69% -5.15%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $86.30M $78.10M $68.00M
YoY Change -5.79% -9.19% -12.26%
Total Long-Term Liabilities $86.30M $78.10M $68.00M
YoY Change -5.79% -9.19% -12.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $495.9M $459.5M $380.9M
Total Long-Term Liabilities $86.30M $78.10M $68.00M
Total Liabilities $582.2M $537.6M $448.9M
YoY Change 20.66% 15.96% -6.3%
SHAREHOLDERS EQUITY
Retained Earnings $312.2M $1.024B $979.4M
YoY Change -75.85% -26.12% -26.55%
Common Stock $2.510B $2.629B $2.520B
YoY Change 3.36% 10.54% 12.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.822B $3.657B $3.501B
YoY Change
Total Liabilities & Shareholders Equity $3.405B $4.194B $3.950B
YoY Change -18.96% -0.98% -2.68%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q4
OPERATING ACTIVITIES
Net Income $104.0M $44.30M $166.2M
YoY Change -34.63% -76.55% -4.97%
Depreciation, Depletion And Amortization $17.20M $12.30M $18.10M
YoY Change 3.61% 18.27% 17.53%
Cash From Operating Activities $154.0M $166.3M $229.1M
YoY Change -18.56% -35.54% 1.01%
INVESTING ACTIVITIES
Capital Expenditures -$6.000M -$20.60M -$28.90M
YoY Change -76.0% 23.35% -70.6%
Acquisitions $12.50M
YoY Change
Other Investing Activities $519.6M -$184.7M -$34.30M
YoY Change 533.66% -44.25% -22.75%
Cash From Investing Activities $513.6M -$205.3M -$63.20M
YoY Change 801.05% -41.01% -55.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -974.0M $70.60M 29.60M
YoY Change 304.15% -297.21% -59.51%
NET CHANGE
Cash From Operating Activities 154.0M $166.3M 229.1M
Cash From Investing Activities 513.6M -$205.3M -63.20M
Cash From Financing Activities -974.0M $70.60M 29.60M
Net Change In Cash -306.4M $31.60M 195.5M
YoY Change -6107.84% -125.12% 24.36%
FREE CASH FLOW
Cash From Operating Activities $154.0M $166.3M $229.1M
Capital Expenditures -$6.000M -$20.60M -$28.90M
Free Cash Flow $160.0M $186.9M $258.0M
YoY Change -25.27% -31.96% -20.64%

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549000000 USD
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CY2014 us-gaap Income Tax Expense Benefit
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8200000 USD
CY2013 us-gaap Income Tax Reconciliation Deductions Qualified Production Activities
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9200000 USD
CY2014 us-gaap Income Tax Reconciliation Deductions Qualified Production Activities
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CY2014 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2013 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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304800000 USD
CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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192200000 USD
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5900000 USD
CY2013 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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1900000 USD
CY2014 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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7700000 USD
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200000 USD
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1200000 USD
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15800000 USD
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15500000 USD
CY2014 us-gaap Income Tax Reconciliation State And Local Income Taxes
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6400000 USD
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0 USD
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12200000 USD
CY2014 us-gaap Income Tax Reconciliation Tax Credits Research
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5000000 USD
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176800000 USD
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8400000 USD
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17700000 USD
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13700000 USD
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20800000 USD
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38500000 USD
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35000000 USD
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30500000 USD
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15200000 USD
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19800000 USD
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21000000 USD
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21400000 USD
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7100000 USD
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70000000 USD
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37100000 USD
CY2013 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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5000000 USD
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67200000 USD
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12600000 USD
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CY2013 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
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0 USD
CY2014 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
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283600000 USD
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CY2013 us-gaap Sales Revenue Net
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CY2014Q4 us-gaap Sales Revenue Net
SalesRevenueNet
604700000 USD
CY2014 us-gaap Sales Revenue Net
SalesRevenueNet
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CY2012 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
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CY2013 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
397300000 USD
CY2014 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
429000000 USD
CY2012 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
522200000 USD
CY2013 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
574000000 USD
CY2014 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
130200000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
683100000 USD
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5600000 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5000000 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
380.71
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
395.85
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
672200000 USD
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
4800000 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
393.76
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
296.77
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
478.19
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
446.91
CY2014Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
3400000 shares
CY2014Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
5000000 shares
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
573100000 USD
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y9M9D
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y6M
CY2014Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
363.03
CY2014Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
395.85
CY2014 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P6Y7M15D
CY2014 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
900000 shares
CY2012 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
263300000 USD
CY2013 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
160600000 USD
CY2014 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
283600000 USD
CY2012 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
238300000 USD
CY2013 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1109200000 USD
CY2014 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1000000000 USD
CY2012 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
400000 shares
CY2013 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
2600000 shares
CY2014 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
2500000 shares
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
2645600000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
3580100000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
3501400000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
3379400000 USD
CY2013Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
5100000 USD
CY2014Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
7400000 USD
CY2014Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
855800000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
98100000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
88000000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
74000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
75500000 USD
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
8300000 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
1500000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
6000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
20300000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
19100000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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3200000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
3400000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
2500000 USD
CY2014 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
900000 USD
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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17500000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
22800000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
22300000 USD
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
12900000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
USD
CY2014 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
1500000 USD
CY2012 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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32200000 USD
CY2013 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
29300000 USD
CY2014 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1700000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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83800000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
74000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
75500000 USD
CY2011Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
5600000 USD
CY2012Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
8000000 USD
CY2013 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
900000 shares
CY2014 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
800000 shares
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41100000 shares
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40100000 shares
CY2012 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
12600000 USD
CY2013 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
16300000 USD
CY2014 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
22500000 USD
CY2012 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1300000 shares
CY2013Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
5800000 USD
CY2014Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
5500000 USD
CY2012 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
15000000 USD
CY2013 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
14100000 USD
CY2014 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
22200000 USD
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37700000 shares
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39800000 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39200000 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36900000 shares
CY2014 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<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-style:italic;font-weight:bold;">Concentrations of Credit Risk and Other Risks and Uncertainties</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;">The carrying amounts for financial instruments consisting of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate fair value due to their short maturities. Marketable securities and derivative instruments are stated at their estimated fair values, based on quoted market prices for the same or similar instruments. The counterparties to the agreements relating to the Company&#8217;s investment securities and derivative instruments consist of various major corporations, financial institutions, municipalities and government agencies of high credit standing. </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;">The Company&#8217;s accounts receivable are derived from net revenue to customers and distributors located throughout the world. The Company performs credit evaluations of its customers&#8217; financial condition and, generally, requires no collateral from its customers. The Company provides reserves for potential credit losses but has not experienced significant losses to date. As of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">2013</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">64%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">66%</font><font style="font-family:inherit;font-size:10pt;">, respectively, of accounts receivable were from domestic customers. No single customer represented more than 10% of net accounts receivable as of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">2013</font><font style="font-family:inherit;font-size:10pt;">. </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;">During the years ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">2013</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">2012</font><font style="font-family:inherit;font-size:10pt;">, domestic revenue accounted for </font><font style="font-family:inherit;font-size:10pt;">70%</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">72%</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">79%</font><font style="font-family:inherit;font-size:10pt;">, respectively, of total revenue, while international revenue accounted for </font><font style="font-family:inherit;font-size:10pt;">30%</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">28%</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">21%</font><font style="font-family:inherit;font-size:10pt;">, respectively, of total revenue for each of the years then ended. No single customer represented more than 10% of total revenue for the years ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">2013</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">2012</font><font style="font-family:inherit;font-size:10pt;">. </font></div></div>
CY2014 us-gaap Nature Of Operations
NatureOfOperations
<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 THE 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 Surgical, Inc. 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;font-style:italic;"><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, The Company believes these surgical systems enable a new generation of surgery. This advanced 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 System translates 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 System is 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>
CY2014 us-gaap Use Of Estimates
UseOfEstimates
<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-style:italic;font-weight:bold;">Use of Estimates</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;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying Notes to the Consolidated Financial Statements. The accounting estimates that require management&#8217;s most significant, difficult and subjective judgments include the valuation and recognition of investments, the valuation of the revenue and allowance for sales returns and doubtful accounts, the estimation of hedging transactions, the valuation of inventory, the assessment of recoverability of intangible assets and their estimated useful lives, revenue recognition, the valuation and recognition of share-based compensation, the recognition and measurement of current and deferred income tax assets and liabilities, and the legal contingencies estimate. Actual results could differ materially from these estimates. </font></div></div>

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