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: 2018 | |||
Consolidated Statements Of Income | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 4, 2019) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Revenue: | |||
| Total revenue | $ 3,724,200 | 3,138,200 | 2,706,500 |
| Cost of revenue: | |||
| Total cost of revenue | 1,120,100 | 936,200 | 813,600 |
| Gross profit | 2,604,100 | 2,202,000 | 1,892,900 |
| Operating expenses: | |||
| Selling, general and administrative | 986,600 | 810,500 | 703,600 |
| Research and development | 418,100 | 328,600 | 239,600 |
| Total operating expenses | 1,404,700 | 1,139,100 | 943,200 |
| Income from operations | 1,199,400 | 1,062,900 | 949,700 |
| Interest and other income, net | 80,100 | 41,900 | 35,600 |
| Income before taxes | 1,279,500 | 1,104,800 | 985,300 |
| Income tax expense | 154,500 | 433,900 | 247,000 |
| Net income | 1,125,000 | 670,900 | 738,300 |
| Less: net loss attributable to noncontrolling interest in joint venture | (2,900) | (400) | |
| Net income attributable to Intuitive Surgical, Inc. | 1,127,900 | 670,900 | 738,300 |
| Net income per share attributable to Intuitive Surgical, Inc.: | |||
| Basic (usd per share) | 9.92 | 6.01 | 6.43 |
| Diluted (usd per share) | 9.49 | 5.77 | 6.26 |
| Shares used in computing net income per share attributable to Intuitive Surgical, Inc.: | |||
| Basic (shares) | 113,700 | 111,700 | 114,900 |
| Diluted (shares) | 118,800 | 116,300 | 117,900 |
| Total comprehensive income attributable to Intuitive Surgical, Inc. | 1,130,100 | 664,300 | 738,900 |
| Products and Services | |||
| Product | |||
| Total revenue | 3,089,100 | 2,565,300 | 2,195,800 |
| Total cost of revenue | 906,200 | 756,300 | 662,600 |
| Service | |||
| Total revenue | 635,100 | 572,900 | 510,700 |
| Total cost of revenue | 213,900 | 179,900 | 151,000 |
| Related Party | |||
| Joint venture | |||
| Less: net loss attributable to noncontrolling interest in joint venture | (2,900) | 0 | 0 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2018 | |||
Consolidated Statements Of Comprehensive Income | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 4, 2019) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Net income attributable to Intuitive Surgical, Inc. | $ 1,127,900 | 670,900 | 738,300 |
| Other comprehensive income (loss): | |||
| Change in foreign currency translation gains (losses) | (2,600) | 3,600 | 2,000 |
| Available-for-sale investments (net of tax): | |||
| Change in unrealized gains (losses) | 300 | (2,700) | (4,600) |
| Less: Reclassification adjustment for net losses on investments | 1,200 | 0 | 200 |
| Net change | 1,500 | (2,700) | (4,400) |
| Derivative instruments (net of tax): | |||
| Change in unrealized gains (losses) | 3,600 | (8,600) | 4,100 |
| Less: Reclassification adjustment for (gains) losses on derivative instruments | (1,000) | 1,200 | (600) |
| Net change | 2,600 | (7,400) | 3,500 |
| Employee benefit plans (net of tax): | |||
| Change in unrealized gains (losses) | 400 | (300) | (700) |
| Less: Reclassification adjustment for losses on employee benefit plans | 300 | 200 | 200 |
| Net change | 700 | (100) | (500) |
| Other comprehensive gains (losses) | 2,200 | (6,600) | 600 |
| Total comprehensive income attributable to Intuitive Surgical, Inc. | 1,130,100 | 664,300 | 738,900 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2018 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 4, 2019) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Net income | $ 1,125,000 | 670,900 | 738,300 |
| Operating activities: | |||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and loss on disposal of property, plant, and equipment, net | 108,600 | 86,200 | 73,900 |
| Amortization of intangible assets | 14,200 | 12,900 | 18,200 |
| Loss on investment, accretion of discounts, and amortization of premiums on investments, net | 1,800 | 21,200 | 35,900 |
| Deferred income taxes | 31,900 | 60,200 | 20,900 |
| Income tax benefits from employee stock plans | 0 | 0 | 29,800 |
| Share-based compensation expense | 261,200 | 209,100 | 177,600 |
| Amortization of contract acquisition asset | 10,600 | 10,900 | 10,100 |
| Changes in operating assets and liabilities, net of effects of acquisitions: | |||
| Accounts receivable | (161,300) | (81,400) | (34,200) |
| Inventory | (279,000) | (115,500) | (46,700) |
| Prepaids and other assets | (77,700) | (38,900) | (39,200) |
| Accounts payable | 16,700 | 14,000 | 15,900 |
| Accrued compensation and employee benefits | 26,200 | 31,200 | 18,700 |
| Deferred revenue | 54,300 | 43,700 | 14,100 |
| Other liabilities | 37,100 | 219,400 | 53,700 |
| Net cash provided by operating activities | 1,169,600 | 1,143,900 | 1,087,000 |
| Investing activities: | |||
| Purchase of investments | (2,581,900) | (1,995,000) | (2,585,500) |
| Proceeds from sales of investments | 274,000 | 1,861,300 | 389,900 |
| Proceeds from maturities of investments | 1,533,600 | 703,100 | 970,100 |
| Purchase of property, plant and equipment, and intellectual property | (187,400) | (190,700) | (53,900) |
| Acquisition of businesses, net of cash | 87,900 | 0 | 0 |
| Net cash provided by (used in) investing activities | (1,049,600) | 378,700 | (1,279,400) |
| Financing activities: | |||
| Proceeds from issuance of common stock relating to employee stock plans | 236,600 | 415,500 | 580,900 |
| Taxes paid related to net share settlement of equity awards | (120,000) | (56,600) | (24,000) |
| Repurchase common stock | 0 | (2,274,000) | (42,500) |
| Other financing activities | 9,700 | 2,000 | 0 |
| Net cash provided by (used in) financing activities | 126,300 | (1,913,100) | 514,400 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (100) | 2,100 | 0 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 246,200 | (388,400) | 322,000 |
| Cash, cash equivalents, and restricted cash, beginning of year | 663,200 | 1,051,600 | |
| Cash, cash equivalents, and restricted cash, end of year | 909,400 | 663,200 | 1,051,600 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTUITIVE SURGICAL INC | ||
Ticker: ISRG Fiscal Year: 2018 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2018 10-K (Filed: Feb 4, 2019) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2018 | Dec 31, 2017 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 857,900 | 648,200 |
| Short-term investments | 2,205,200 | 1,312,400 |
| Accounts receivable, net of allowances of $8.2 and $4.6 as of December 31, 2018, and 2017, respectively | 682,300 | 507,900 |
| Inventory | 409,000 | 241,200 |
| Prepaids and other current assets | 178,800 | 99,200 |
| Total current assets | 4,333,200 | 2,808,900 |
| Property, plant, and equipment, net | 812,000 | 613,100 |
| Long-term investments | 1,771,300 | 1,885,900 |
| Deferred tax assets | 428,600 | 72,000 |
| Intangible and other assets, net | 261,000 | 195,800 |
| Goodwill | 240,600 | 201,100 |
| Total assets | 7,846,700 | 5,776,800 |
| LIABILITIES AND STOCKHOLDERS EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 100,700 | 82,500 |
| Accrued compensation and employee benefits | 193,800 | 167,600 |
| Deferred revenue | 294,300 | 243,800 |
| Other accrued liabilities | 231,800 | 168,900 |
| Total current liabilities | 820,600 | 662,800 |
| Other long-term liabilities | 338,600 | 333,600 |
| Total liabilities | 1,159,200 | 996,400 |
| 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, 2018, and 2017 | 0 | 0 |
| Common stock, 300.0 shares authorized, $0.001 par value, 114.5 shares and 112.3 shares issued and outstanding as of December 31, 2018, and 2017, respectively | 100 | 100 |
| Additional paid-in capital | 5,170,300 | 4,679,200 |
| Retained earnings | 1,521,700 | 115,000 |
| Accumulated other comprehensive loss | (13,300) | (15,500) |
| Total Intuitive Surgical, Inc. stockholders equity | 6,678,800 | 4,778,800 |
| Noncontrolling interest in joint venture | 8,700 | 1,600 |
| Total stockholders equity | 6,687,500 | 4,780,400 |
| Total liabilities and stockholders equity | 7,846,700 | 5,776,800 |
| External Links | |
| INTUITIVE SURGICAL INC (ISRG) Fiscal Year 2018 | |
| 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 |