10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2014 | |||
Consolidated Statements Of Income | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 6, 2015) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Revenue: | |||
| Product | $ 1,702,700 | 1,867,800 | 1,836,200 |
| Service | 429,000 | 397,300 | 342,600 |
| Total revenue | 2,131,700 | 2,265,100 | 2,178,800 |
| Cost of revenue: | |||
| Product | 569,900 | 543,400 | 495,300 |
| Service | 148,000 | 127,500 | 113,200 |
| Total cost of revenue | 717,900 | 670,900 | 608,500 |
| Gross profit | 1,413,800 | 1,594,200 | 1,570,300 |
| Operating expenses: | |||
| Selling, general and administrative | 691,000 | 574,000 | 522,200 |
| Research and development | 178,000 | 167,700 | 170,000 |
| Total operating expenses | 869,000 | 741,700 | 692,200 |
| Income from operations | 544,800 | 852,500 | 878,100 |
| Interest and other income, net | 4,200 | 18,400 | 15,800 |
| Income before taxes | 549,000 | 870,900 | 893,900 |
| Income tax expense | 130,200 | 199,900 | 237,300 |
| Net income | 418,800 | 671,000 | 656,600 |
| Net income per share: | |||
| Basic (in dollars per share) | 11.35 | 17.12 | 16.50 |
| Diluted (in dollars per share) | 11.11 | 16.73 | 15.98 |
| Shares used in computing net income per share: | |||
| Basic (in shares) | 36,900 | 39,200 | 39,800 |
| Diluted (in shares) | 37,700 | 40,100 | 41,100 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2014 | |||
Consolidated Statements Of Other Comprehensive Income | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 6, 2015) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Net income | $ 418,800 | 671,000 | 656,600 |
| Other comprehensive income (loss): | |||
| Change in foreign currency translation gains (losses) | (2,500) | 0 | 600 |
| Available-for-sale investments: | |||
| Change in unrealized gains (losses), net of tax | (3,900) | (3,900) | 5,000 |
| Less: Reclassification adjustment for net gains (losses) on investments recognized during the year, net of tax | 2,000 | (600) | 100 |
| Net change, net of tax effect | (1,900) | (4,500) | 5,100 |
| Derivative instruments: | |||
| Change in unrealized gains (losses) | 8,600 | (1,800) | (1,100) |
| Less: Reclassification adjustment for gains (losses) on derivative instruments recognized during the year, net of tax | (7,500) | 1,800 | 1,100 |
| Net change, net of tax effect | 1,100 | 0 | 0 |
| Employee benefit plans: | |||
| Change in unrealized losses | (4,200) | 0 | 0 |
| Less: Reclassification adjustment for gains (losses) on employee benefit plans recognized during the year, net of tax | 300 | 0 | 0 |
| Net change, net of tax effect | 3,900 | 0 | 0 |
| Other comprehensive income (loss) | (7,200) | (4,500) | 5,700 |
| Total comprehensive income | 411,600 | 666,500 | 662,300 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2014 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 6, 2015) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Operating activities: | |||
| Net income | $ 418,800 | 671,000 | 656,600 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 52,000 | 46,000 | 34,700 |
| Amortization of intangible assets | 22,400 | 21,300 | 23,100 |
| Loss of investment, accretion of discounts and amortization of premiums on investments, net | 33,900 | 36,800 | 33,100 |
| Deferred income taxes | (35,000) | (38,500) | (20,800) |
| Income tax benefits from employee stock plans | 13,900 | 34,500 | 93,900 |
| Excess tax benefit from employee stock plans | (24,000) | (38,000) | (94,200) |
| Share-based compensation expense | 168,900 | 168,900 | 153,300 |
| Changes in operating assets and liabilities, net of effects of acquisition: | |||
| Accounts receivable | (13,700) | 68,900 | (68,900) |
| Inventories | (26,800) | (70,000) | (7,100) |
| Prepaids and other assets | (67,600) | (5,000) | (37,100) |
| Accounts payable | 17,700 | (8,900) | 8,400 |
| Accrued compensation and employee benefits | 21,400 | (33,300) | 21,000 |
| Deferred revenue | 19,800 | 15,200 | 30,500 |
| Other liabilities | 63,400 | 11,100 | (12,300) |
| Net cash provided by operating activities | 665,100 | 880,000 | 814,200 |
| Investing activities: | |||
| Purchase of investments | (1,344,600) | (1,443,700) | (1,833,900) |
| Proceeds from sales of investments | 665,900 | 984,900 | 329,800 |
| Proceeds from maturities of investments | 714,700 | 822,400 | 800,200 |
| Purchase of property, plant and equipment, intellectual property | (105,600) | (104,600) | (114,200) |
| Acquisition of business, net of cash acquired | (84,300) | 0 | (27,600) |
| Net cash provided by (used in) investing activities | (153,900) | 259,000 | (845,700) |
| Financing activities: | |||
| Proceeds from issuance of common stock | 283,600 | 160,600 | 263,300 |
| Excess tax benefit from employee stock plans | 24,000 | 38,000 | 94,200 |
| Repurchase and retirement of common stock | (1,000,000) | (1,109,200) | (238,300) |
| Net cash (used in) provided by financing activities | (692,400) | (910,600) | 119,200 |
| Effect of exchange rate changes on cash and cash equivalents | (600) | 0 | 200 |
| Net increase (decrease) in cash and cash equivalents | (181,800) | 228,400 | 87,900 |
| Cash and cash equivalents, beginning of year | 782,100 | 553,700 | |
| Cash and cash equivalents, end of year | 600,300 | 782,100 | 553,700 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTUITIVE SURGICAL INC | ||
Ticker: ISRG Fiscal Year: 2014 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2014 10-K (Filed: Feb 6, 2015) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2014 | Dec 31, 2013 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 600,300 | 782,100 |
| Short-term investments | 632,200 | 621,400 |
| Accounts receivable, net of allowances of $0.3 and $0.5 at December 31, 2014 and 2013, respectively | 315,100 | 301,400 |
| Inventories | 181,700 | 179,600 |
| Prepaids and other current assets | 82,600 | 38,300 |
| Deferred tax assets | 35,100 | 9,600 |
| Total current assets | 1,847,000 | 1,932,400 |
| Property, plant and equipment, net | 387,400 | 309,900 |
| Long-term investments | 1,264,500 | 1,350,400 |
| Long-term deferred tax asset | 136,200 | 126,100 |
| Intangible and other assets, net | 126,300 | 94,100 |
| Goodwill | 198,000 | 137,400 |
| Total assets | 3,959,400 | 3,950,300 |
| LIABILITIES AND STOCKHOLDERS EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 61,600 | 46,200 |
| Accrued compensation and employee benefits | 96,200 | 70,700 |
| Deferred revenue | 216,600 | 200,100 |
| Other accrued liabilities | 126,800 | 63,900 |
| Total current liabilities | 501,200 | 380,900 |
| Other long-term liabilities | 78,800 | 68,000 |
| Total liabilities | 580,000 | 448,900 |
| Commitments and contingencies | ||
| Stockholders equity: | ||
| Preferred stock, 2.5 shares authorized, $0.001 par value, issuable in series; no shares issued and outstanding as of December 31, 2014 and December 31, 2013, respectively | 0 | 0 |
| Common stock, 100.0 shares authorized, $0.001 par value, 36.6 shares and 38.2 shares issued and outstanding as of December 31, 2014 and December 31, 2013, respectively | 0 | 0 |
| Additional paid-in capital | 2,896,800 | 2,519,900 |
| Retained earnings | 487,700 | 979,400 |
| Accumulated other comprehensive income (loss) | (5,100) | 2,100 |
| Total stockholders equity | 3,379,400 | 3,501,400 |
| Total liabilities and stockholders equity | 3,959,400 | 3,950,300 |
| External Links | |
| INTUITIVE SURGICAL INC (ISRG) Fiscal Year 2014 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |