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: 2016 | |||
Consolidated Statements Of Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 6, 2017) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Revenue: | |||
| Product | $ 2,187,400 | 1,919,600 | 1,702,700 |
| Service | 517,000 | 464,800 | 429,000 |
| Total revenue | 2,704,400 | 2,384,400 | 2,131,700 |
| Cost of revenue: | |||
| Product | 663,300 | 647,200 | 569,900 |
| Service | 151,000 | 159,300 | 148,000 |
| Total cost of revenue | 814,300 | 806,500 | 717,900 |
| Gross profit | 1,890,100 | 1,577,900 | 1,413,800 |
| Operating expenses: | |||
| Selling, general and administrative | 705,300 | 640,500 | 691,000 |
| Research and development | 239,600 | 197,400 | 178,000 |
| Total operating expenses | 944,900 | 837,900 | 869,000 |
| Income from operations | 945,200 | 740,000 | 544,800 |
| Interest and other income, net | 35,600 | 18,500 | 4,200 |
| Income before taxes | 980,800 | 758,500 | 549,000 |
| Income tax expense | 244,900 | 169,700 | 130,200 |
| Net income | 735,900 | 588,800 | 418,800 |
| Net income per share: | |||
| Basic (usd per share) | 19.21 | 15.87 | 11.35 |
| Diluted (usd per share) | 18.73 | 15.54 | 11.11 |
| Shares used in computing net income per share: | |||
| Basic (shares) | 38,300 | 37,100 | 36,900 |
| Diluted (shares) | 39,300 | 37,900 | 37,700 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2016 | |||
Consolidated Statements Of Comprehensive Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 6, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Net income | $ 735,900 | 588,800 | 418,800 |
| Other comprehensive income (loss): | |||
| Change in foreign currency translation gains (losses) | 2,000 | (1,200) | (2,500) |
| Available-for-sale investments: | |||
| Change in unrealized losses, net of tax | (4,600) | (3,200) | (3,900) |
| Less: Reclassification adjustment for net gains (losses) on investments recognized during the year, net of tax | 200 | (800) | 2,000 |
| Net change, net of tax effect | (4,400) | (4,000) | (1,900) |
| Derivative instruments: | |||
| Change in unrealized gains | 4,100 | 7,800 | 8,600 |
| Less: Reclassification adjustment for gains (losses) on derivative instruments recognized during the year, net of tax | (600) | (7,400) | (7,500) |
| Net change, net of tax effect | 3,500 | 400 | 1,100 |
| Employee benefit plans: | |||
| Change in unrealized losses, net of tax | (700) | (400) | (4,200) |
| Less: Reclassification adjustment for gains (losses) on employee benefit plans recognized during the year, net of tax | 200 | 800 | 300 |
| Net change, net of tax effect | (500) | 400 | (3,900) |
| Other comprehensive gains (losses) | 600 | (4,400) | (7,200) |
| Total comprehensive income | 736,500 | 584,400 | 411,600 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2016 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 6, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Operating activities: | |||
| Net income | $ 735,900 | 588,800 | 418,800 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and loss on disposal of property, plant, and equipment, net | 73,900 | 65,100 | 52,000 |
| Amortization of intangible assets | 18,200 | 24,400 | 22,400 |
| Loss (gain) on investment, accretion of discounts, and amortization of premiums on investments, net | 35,900 | 26,400 | 33,900 |
| Deferred income taxes | 18,700 | 4,600 | (35,000) |
| Income tax benefits from employee stock plans | 29,800 | 21,500 | 13,900 |
| Excess tax benefit from employee stock plans | (44,100) | (34,300) | (24,000) |
| Share-based compensation expense | 177,600 | 167,900 | 168,900 |
| Changes in operating assets and liabilities, net of effects of acquisition: | |||
| Accounts receivable | (35,900) | (79,200) | (13,700) |
| Inventory | (46,700) | (10,700) | (26,800) |
| Prepaids and other assets | (28,700) | (10,500) | (67,600) |
| Accounts payable | 15,900 | (11,300) | 17,700 |
| Accrued compensation and employee benefits | 18,700 | 21,500 | 21,400 |
| Deferred revenue | 19,900 | 8,200 | 19,800 |
| Other liabilities | 53,800 | (10,500) | 63,400 |
| Net cash provided by operating activities | 1,042,900 | 771,900 | 665,100 |
| Investing activities: | |||
| Purchase of investments | (2,585,500) | (1,827,400) | (1,344,600) |
| Proceeds from sales of investments | 389,900 | 233,100 | 665,900 |
| Proceeds from maturities of investments | 970,100 | 825,800 | 714,700 |
| Purchase of property, plant and equipment, intellectual property | (53,900) | (81,000) | (105,600) |
| Acquisition of business, net of cash acquired | 0 | 0 | (84,300) |
| Net cash used in investing activities | (1,279,400) | (849,500) | (153,900) |
| Financing activities: | |||
| Proceeds from issuance of common stock relating to employee stock plans | 580,900 | 361,100 | 283,600 |
| Excess tax benefit from employee stock plans | 44,100 | 34,300 | 24,000 |
| Taxes paid related to net share settlement of equity awards | (24,000) | (11,000) | 0 |
| Repurchase and retirement of common stock | (42,500) | (183,700) | (1,000,000) |
| Other financing activities | 0 | (7,300) | 0 |
| Net cash provided by (used in) financing activities | 558,500 | 193,400 | (692,400) |
| Effect of exchange rate changes on cash and cash equivalents | 0 | (1,500) | (600) |
| Net increase (decrease) in cash and cash equivalents | 322,000 | 114,300 | (181,800) |
| Cash and cash equivalents, beginning of year | 714,600 | 600,300 | |
| Cash and cash equivalents, end of year | 1,036,600 | 714,600 | 600,300 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTUITIVE SURGICAL INC | ||
Ticker: ISRG Fiscal Year: 2016 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 6, 2017) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,036,600 | 714,600 |
| Short-term investments | 1,518,000 | 845,200 |
| Accounts receivable, net of allowances of $1.9 and $2.1 at December 31, 2016 and 2015, respectively | 430,200 | 394,300 |
| Inventory | 182,300 | 167,900 |
| Prepaids and other current assets | 83,300 | 73,500 |
| Total current assets | 3,250,400 | 2,195,500 |
| Property, plant and equipment, net | 458,400 | 432,100 |
| Long-term investments | 2,283,300 | 1,788,000 |
| Deferred tax assets | 150,900 | 167,800 |
| Intangible and other assets, net | 142,800 | 122,800 |
| Goodwill | 201,100 | 201,100 |
| Total assets | 6,486,900 | 4,907,300 |
| LIABILITIES AND STOCKHOLDERS EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 68,500 | 52,600 |
| Accrued compensation and employee benefits | 136,400 | 117,300 |
| Deferred revenue | 240,600 | 225,600 |
| Other accrued liabilities | 151,000 | 96,400 |
| Total current liabilities | 596,500 | 491,900 |
| Other long-term liabilities | 112,600 | 95,900 |
| Total liabilities | 709,100 | 587,800 |
| Commitments and contingencies (Note 7) | ||
| Stockholders equity: | ||
| Preferred stock, 2.5 shares authorized, $0.001 par value, issuable in series; no shares issued and outstanding as of December 31, 2016 and December 31, 2015, respectively | 0 | 0 |
| Common stock, 100.0 shares authorized, $0.001 par value, 38.8 shares and 37.4 shares issued and outstanding as of December 31, 2016 and December 31, 2015, respectively | 0 | 0 |
| Additional paid-in capital | 4,211,800 | 3,429,800 |
| Retained earnings | 1,574,900 | 899,200 |
| Accumulated other comprehensive loss | (8,900) | (9,500) |
| Total stockholders equity | 5,777,800 | 4,319,500 |
| Total liabilities and stockholders equity | 6,486,900 | 4,907,300 |
| External Links | |
| INTUITIVE SURGICAL INC (ISRG) Fiscal Year 2016 | |
| 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 |