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: 2017 | |||
Consolidated Statements Of Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 2, 2018) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Revenue: | |||
| Product | $ 2,547,100 | 2,187,400 | 1,919,600 |
| Service | 581,800 | 517,000 | 464,800 |
| Total revenue | 3,128,900 | 2,704,400 | 2,384,400 |
| Cost of revenue: | |||
| Product | 754,900 | 663,300 | 647,200 |
| Service | 179,900 | 151,000 | 159,300 |
| Total cost of revenue | 934,800 | 814,300 | 806,500 |
| Gross profit | 2,194,100 | 1,890,100 | 1,577,900 |
| Operating expenses: | |||
| Selling, general and administrative | 810,900 | 705,300 | 640,500 |
| Research and development | 328,600 | 239,600 | 197,400 |
| Total operating expenses | 1,139,500 | 944,900 | 837,900 |
| Income from operations | 1,054,600 | 945,200 | 740,000 |
| Interest and other income, net | 41,900 | 35,600 | 18,500 |
| Income before taxes | 1,096,500 | 980,800 | 758,500 |
| Income tax expense | 436,500 | 244,900 | 169,700 |
| Net income | 660,000 | 735,900 | 588,800 |
| Net income per share: | |||
| Basic (usd per share) | 5.91 | 6.40 | 5.29 |
| Diluted (usd per share) | 5.67 | 6.24 | 5.18 |
| Shares used in computing net income per share: | |||
| Basic (shares) | 111,700 | 114,900 | 111,300 |
| Diluted (shares) | 116,300 | 117,900 | 113,700 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2017 | |||
Consolidated Statements Of Comprehensive Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 2, 2018) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net income | $ 660,000 | 735,900 | 588,800 |
| Other comprehensive income (loss): | |||
| Change in foreign currency translation gains (losses) | 3,600 | 2,000 | (1,200) |
| Available-for-sale investments: | |||
| Change in unrealized losses, net of tax | (2,700) | (4,600) | (3,200) |
| Less: Reclassification adjustment for net gains (losses) on investments recognized during the year, net of tax | 0 | 200 | (800) |
| Net change, net of tax effect | (2,700) | (4,400) | (4,000) |
| Derivative instruments: | |||
| Change in unrealized gains (losses) | (8,600) | 4,100 | 7,800 |
| Less: Reclassification adjustment for gains (losses) on derivative instruments recognized during the year, net of tax | 1,200 | (600) | (7,400) |
| Net change, net of tax effect | (7,400) | 3,500 | 400 |
| Employee benefit plans: | |||
| Change in unrealized losses, net of tax | (300) | (700) | (400) |
| Less: Reclassification adjustment for gains on employee benefit plans recognized during the year, net of tax | 200 | 200 | 800 |
| Net change, net of tax effect | (100) | (500) | 400 |
| Other comprehensive gains (losses) | (6,600) | 600 | (4,400) |
| Total comprehensive income | 653,400 | 736,500 | 584,400 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2017 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 2, 2018) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Operating activities: | |||
| Net income | $ 660,000 | 735,900 | 588,800 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and loss on disposal of property, plant, and equipment, net | 86,200 | 73,900 | 65,100 |
| Amortization of intangible assets | 12,900 | 18,200 | 24,400 |
| Loss on investment, accretion of discounts, and amortization of premiums on investments, net | 21,200 | 35,900 | 26,400 |
| Deferred income taxes | 62,900 | 18,700 | 4,600 |
| Income tax benefits from employee stock plans | 0 | 29,800 | 21,500 |
| Share-based compensation expense | 209,100 | 177,600 | 167,900 |
| Changes in operating assets and liabilities, net of effects of acquisition: | |||
| Accounts receivable | (81,700) | (35,900) | (79,200) |
| Inventory | (115,500) | (46,700) | (10,700) |
| Prepaids and other assets | (28,500) | (28,700) | (10,500) |
| Accounts payable | 14,000 | 15,900 | (11,300) |
| Accrued compensation and employee benefits | 31,200 | 18,700 | 21,500 |
| Deferred revenue | 52,800 | 19,900 | 8,200 |
| Other liabilities | 219,300 | 53,800 | (10,500) |
| Net cash provided by operating activities (1) | 1,143,900 | 1,087,000 | 806,200 |
| Investing activities: | |||
| Purchase of investments | (1,995,000) | (2,585,500) | (1,827,400) |
| Proceeds from sales of investments | 1,861,300 | 389,900 | 233,100 |
| Proceeds from maturities of investments | 703,100 | 970,100 | 825,800 |
| Purchase of property, plant and equipment, and intellectual property | (190,700) | (53,900) | (81,000) |
| Net cash provided by (used in) investing activities | 378,700 | (1,279,400) | (849,500) |
| Financing activities: | |||
| Proceeds from issuance of common stock relating to employee stock plans | 415,500 | 580,900 | 361,100 |
| Taxes paid related to net share settlement of equity awards | (56,600) | (24,000) | (11,000) |
| Repurchase and retirement of common stock | (2,274,000) | (42,500) | (183,700) |
| Other financing activities | 2,000 | 0 | (7,300) |
| Net cash provided by (used in) financing activities (1) | (1,913,100) | 514,400 | 159,100 |
| Effect of exchange rate changes on cash and cash equivalents | 2,100 | 0 | (1,500) |
| Net increase (decrease) in cash and cash equivalents | (388,400) | 322,000 | 114,300 |
| Cash and cash equivalents, beginning of year | 1,036,600 | 714,600 | |
| Cash and cash equivalents, end of year | 648,200 | 1,036,600 | 714,600 |
| Adjustments for New Accounting Pronouncements | |||
| ASU No. 2016-09 | |||
| Net cash provided by operating activities (1) | 44,100 | 34,300 | |
| Net cash provided by (used in) financing activities (1) | (44,100) | (34,300) | |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTUITIVE SURGICAL INC | ||
Ticker: ISRG Fiscal Year: 2017 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 2, 2018) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 648,200 | 1,036,600 |
| Short-term investments | 1,312,400 | 1,518,000 |
| Accounts receivable, net of allowances of $4.6 and $1.9 as of December 31, 2017, and 2016, respectively | 511,900 | 430,200 |
| Inventory | 241,200 | 182,300 |
| Prepaids and other current assets | 97,200 | 83,300 |
| Total current assets | 2,810,900 | 3,250,400 |
| Property, plant, and equipment, net | 613,100 | 458,400 |
| Long-term investments | 1,885,900 | 2,283,300 |
| Deferred tax assets | 87,300 | 150,900 |
| Intangible and other assets, net | 159,700 | 142,800 |
| Goodwill | 201,100 | 201,100 |
| Total assets | 5,758,000 | 6,486,900 |
| LIABILITIES AND STOCKHOLDERS EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 82,500 | 68,500 |
| Accrued compensation and employee benefits | 167,600 | 136,400 |
| Deferred revenue | 284,500 | 240,600 |
| Other accrued liabilities | 169,500 | 151,000 |
| Total current liabilities | 704,100 | 596,500 |
| Other long-term liabilities | 327,100 | 112,600 |
| Total liabilities | 1,031,200 | 709,100 |
| 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, 2017, and 2016 | 0 | 0 |
| Common stock, 300.0 shares authorized, $0.001 par value, 112.3 shares and 116.4 shares issued and outstanding as of December 31, 2017, and 2016, respectively | 100 | 0 |
| Additional paid-in capital | 4,679,200 | 4,211,800 |
| Retained earnings | 61,400 | 1,574,900 |
| Accumulated other comprehensive loss | (15,500) | (8,900) |
| Total Intuitive Surgical, Inc. stockholders equity | 4,725,200 | 5,777,800 |
| Noncontrolling interest in joint venture | 1,600 | 0 |
| Total stockholders equity | 4,726,800 | 5,777,800 |
| Total liabilities and stockholders equity | 5,758,000 | 6,486,900 |
| External Links | |
| INTUITIVE SURGICAL INC (ISRG) Fiscal Year 2017 | |
| 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 |