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: 2019 | |||
Consolidated Statements Of Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 7, 2020) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Revenue: | |||
| Total revenue | $ 4,478,500 | 3,724,200 | 3,138,200 |
| Cost of revenue: | |||
| Total cost of revenue | 1,368,300 | 1,120,100 | 936,200 |
| Gross profit | 3,110,200 | 2,604,100 | 2,202,000 |
| Operating expenses: | |||
| Selling, general and administrative | 1,178,400 | 986,600 | 810,500 |
| Research and development | 557,300 | 418,100 | 328,600 |
| Total operating expenses | 1,735,700 | 1,404,700 | 1,139,100 |
| Income from operations | 1,374,500 | 1,199,400 | 1,062,900 |
| Interest and other income, net | 127,700 | 80,100 | 41,900 |
| Income before taxes | 1,502,200 | 1,279,500 | 1,104,800 |
| Income tax expense | 120,400 | 154,500 | 433,900 |
| Net income | 1,381,800 | 1,125,000 | 670,900 |
| Less: net income (loss) attributable to noncontrolling interest in joint venture | 2,500 | (2,900) | (400) |
| Net income attributable to Intuitive Surgical, Inc. | 1,379,300 | 1,127,900 | 670,900 |
| Net income per share attributable to Intuitive Surgical, Inc.: | |||
| Basic (usd per share) | 11.95 | 9.92 | 6.01 |
| Diluted (usd per share) | 11.54 | 9.49 | 5.77 |
| Shares used in computing net income per share attributable to Intuitive Surgical, Inc.: | |||
| Basic (shares) | 115,400 | 113,700 | 111,700 |
| Diluted (shares) | 119,500 | 118,800 | 116,300 |
| Total comprehensive income attributable to Intuitive Surgical, Inc. | 1,405,000 | 1,130,100 | 664,300 |
| Products and Services | |||
| Product | |||
| Total revenue | 3,754,300 | 3,089,100 | 2,565,300 |
| Total cost of revenue | 1,119,100 | 906,200 | 756,300 |
| Service | |||
| Total revenue | 724,200 | 635,100 | 572,900 |
| Total cost of revenue | 249,200 | 213,900 | 179,900 |
| Related Party | |||
| Joint venture | |||
| Less: net income (loss) attributable to noncontrolling interest in joint venture | 2,500 | (2,900) | 0 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2019 | |||
Consolidated Statements Of Comprehensive Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 7, 2020) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Net income attributable to Intuitive Surgical, Inc. | $ 1,379,300 | 1,127,900 | 670,900 |
| Other comprehensive income (loss): | |||
| Change in foreign currency translation gains (losses) | 300 | (2,600) | 3,600 |
| Available-for-sale investments (net of tax): | |||
| Change in unrealized gains (losses) | 30,700 | 300 | (2,700) |
| Less: Reclassification adjustment for (gains) losses on investments | (500) | 1,200 | 0 |
| Net change | 30,200 | 1,500 | (2,700) |
| Derivative instruments (net of tax): | |||
| Change in unrealized gains (losses) | 5,800 | 3,600 | (8,600) |
| Less: Reclassification adjustment for (gains) losses on derivative instruments | (5,300) | (1,000) | 1,200 |
| Net change | 500 | 2,600 | (7,400) |
| Employee benefit plans (net of tax): | |||
| Change in unrealized gains (losses) | (5,900) | 400 | (300) |
| Less: Reclassification adjustment for losses on employee benefit plans | 600 | 300 | 200 |
| Net change | (5,300) | 700 | (100) |
| Other comprehensive gains (losses) | 25,700 | 2,200 | (6,600) |
| Total comprehensive income attributable to Intuitive Surgical, Inc. | 1,405,000 | 1,130,100 | 664,300 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2019 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 7, 2020) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Net income | $ 1,381,800 | 1,125,000 | 670,900 |
| 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 | 160,000 | 108,600 | 86,200 |
| Amortization of intangible assets | 43,000 | 14,200 | 12,900 |
| Loss (gain) on investment, accretion of discounts, and amortization of premiums on investments, net | (6,000) | 1,800 | 21,200 |
| Deferred income taxes | (8,000) | 31,900 | 60,200 |
| Share-based compensation expense | 335,800 | 261,200 | 209,100 |
| Amortization of contract acquisition assets | 13,100 | 10,600 | 10,900 |
| Changes in operating assets and liabilities, net of effects of acquisitions: | |||
| Accounts receivable | 38,800 | (161,300) | (81,400) |
| Inventory | (360,500) | (279,000) | (115,500) |
| Prepaids and other assets | (116,900) | (77,700) | (38,900) |
| Accounts payable | 12,300 | 16,700 | 14,000 |
| Accrued compensation and employee benefits | 57,400 | 26,200 | 31,200 |
| Deferred revenue | 35,500 | 54,300 | 43,700 |
| Other liabilities | 11,900 | 37,100 | 219,400 |
| Net cash provided by operating activities | 1,598,200 | 1,169,600 | 1,143,900 |
| Investing activities: | |||
| Purchase of investments | (3,346,200) | (2,581,900) | (1,995,000) |
| Proceeds from sales of investments | 107,300 | 274,000 | 1,861,300 |
| Proceeds from maturities of investments | 2,569,800 | 1,533,600 | 703,100 |
| Purchase of property, plant, and equipment and intellectual property | (425,600) | (187,400) | (190,700) |
| Acquisition of businesses, net of cash | 59,700 | 87,900 | 0 |
| Net cash provided by (used in) investing activities | (1,154,400) | (1,049,600) | 378,700 |
| Financing activities: | |||
| Proceeds from issuance of common stock relating to employee stock plans | 272,800 | 236,600 | 415,500 |
| Taxes paid related to net share settlement of equity awards | (159,100) | (120,000) | (56,600) |
| Repurchase of common stock | (269,500) | 0 | (2,274,000) |
| Capital contribution from noncontrolling interest | 10,000 | 10,000 | 2,000 |
| Payment of deferred purchase consideration | (22,600) | (300) | 0 |
| Net cash provided by (used in) financing activities | (168,400) | 126,300 | (1,913,100) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (2,200) | (100) | 2,100 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 273,200 | 246,200 | (388,400) |
| Cash, cash equivalents, and restricted cash, beginning of year | 909,400 | 663,200 | |
| Cash, cash equivalents, and restricted cash, end of year | 1,182,600 | 909,400 | 663,200 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTUITIVE SURGICAL INC | ||
Ticker: ISRG Fiscal Year: 2019 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2019 10-K (Filed: Feb 7, 2020) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| ASSETS | ||
| Current assets: | ||
| Cash and Cash Equivalents | $ 1,167,600 | 857,900 |
| Short-term investments | 2,054,100 | 2,205,200 |
| Accounts receivable, net of allowances of $8.3 and $8.2 as of December 31, 2019, and 2018, respectively | 645,200 | 682,300 |
| Inventory | 595,500 | 409,000 |
| Prepaids and other current assets | 200,200 | 178,800 |
| Total current assets | 4,662,600 | 4,333,200 |
| Property, plant, and equipment, net | 1,272,900 | 812,000 |
| Long-term investments | 2,623,500 | 1,771,300 |
| Deferred tax assets | 425,600 | 428,600 |
| Intangible and other assets, net | 441,400 | 261,000 |
| Goodwill | 307,200 | 240,600 |
| Total assets | 9,733,200 | 7,846,700 |
| LIABILITIES AND STOCKHOLDERS EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 123,500 | 100,700 |
| Accrued compensation and employee benefits | 251,600 | 193,800 |
| Deferred revenue | 337,800 | 294,300 |
| Other accrued liabilities | 317,300 | 231,800 |
| Total current liabilities | 1,030,200 | 820,600 |
| Other long-term liabilities | 418,300 | 338,600 |
| Total liabilities | 1,448,500 | 1,159,200 |
| Commitments and contingencies (Note 8) | ||
| Stockholders equity: | ||
| Preferred stock, 2.5 shares authorized, $0.001 par value, issuable in series; no shares issued and outstanding as of December 31, 2019, and 2018 | 0 | 0 |
| Common stock, 300.0 shares authorized, $0.001 par value, 116.0 shares and 114.5 shares issued and outstanding as of December 31, 2019, and 2018, respectively | 100 | 100 |
| Additional paid-in capital | 5,756,800 | 5,170,300 |
| Retained earnings | 2,494,500 | 1,521,700 |
| Accumulated other comprehensive income/(loss) | 12,400 | (13,300) |
| Total Intuitive Surgical, Inc. stockholders equity | 8,263,800 | 6,678,800 |
| Noncontrolling interest in joint venture | 20,900 | 8,700 |
| Total stockholders equity | 8,284,700 | 6,687,500 |
| Total liabilities and stockholders equity | 9,733,200 | 7,846,700 |
| External Links | |
| INTUITIVE SURGICAL INC (ISRG) Fiscal Year 2019 | |
| 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 |