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: 2011 | |||
Consolidated Statements Of Income | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 6, 2012) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Revenue: | |||
| Product | $ 1,478,900 | 1,189,100 | 879,900 |
| Service | 278,400 | 223,900 | 172,300 |
| Total revenue | 1,757,300 | 1,413,000 | 1,052,200 |
| Cost of revenue: | |||
| Product | 382,300 | 297,300 | 237,600 |
| Service | 101,200 | 85,700 | 63,500 |
| Total cost of revenue | 483,500 | 383,000 | 301,100 |
| Gross profit | 1,273,800 | 1,030,000 | 751,100 |
| Operating expenses: | |||
| Selling, general and administrative | 438,800 | 358,800 | 278,600 |
| Research and development | 140,200 | 116,000 | 95,100 |
| Total operating expenses | 579,000 | 474,800 | 373,700 |
| Income from operations | 694,800 | 555,200 | 377,400 |
| Interest and other income, net | 14,900 | 17,100 | 18,700 |
| Income before income taxes | 709,700 | 572,300 | 396,100 |
| Income tax expense | 214,600 | 190,500 | 163,500 |
| Net income | 495,100 | 381,800 | 232,600 |
| Net income per common share: | |||
| Basic | 12.63 | 9.74 | 6.07 |
| Diluted | 12.32 | 9.47 | 5.93 |
| Shares used in computing basic and diluted net income per share: | |||
| Basic | 39,200 | 39,200 | 38,300 |
| Diluted | 40,200 | 40,300 | 39,200 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2011 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 6, 2012) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Operating activities: | |||
| Net income | $ 495,100 | 381,800 | 232,600 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 28,700 | 23,700 | 19,000 |
| Amortization of intangible assets | 17,800 | 16,700 | 15,600 |
| Deferred income taxes | 7,100 | (21,500) | (15,600) |
| Share-based compensation expense of stock options and employee stock purchases | 136,400 | 117,600 | 97,000 |
| Excess tax benefit from stock-based compensation | (58,800) | (65,200) | (25,100) |
| Income tax benefits related to stock option exercises | 48,600 | 57,900 | 23,600 |
| Other non-cash items | 22,600 | 17,800 | 7,100 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (51,100) | (41,500) | (35,300) |
| Inventory | (25,300) | (29,200) | 5,900 |
| Prepaids and other assets | (9,400) | 1,100 | (6,300) |
| Accounts payable | 10,300 | 8,100 | 7,000 |
| Accrued compensation and employee benefits | 19,600 | 13,800 | 12,800 |
| Deferred revenue | 28,100 | 26,500 | 21,300 |
| Other accrued liabilities | 7,900 | 38,200 | 32,600 |
| Net cash provided by operating activities | 677,600 | 545,800 | 392,200 |
| Investing activities: | |||
| Purchase of investments | (1,532,200) | (1,385,400) | (764,500) |
| Proceeds from sales and maturities of investments | 1,136,100 | 987,100 | 518,400 |
| Purchase of property and equipment and acquisition of intellectual property | (82,900) | (96,000) | (53,400) |
| Net cash used in investing activities | (479,000) | (494,300) | (299,500) |
| Financing activities: | |||
| Proceeds from issuance of common stock, net | 260,600 | 141,100 | 58,700 |
| Excess tax benefit from stock-based compensation | 58,800 | 65,200 | 25,100 |
| Repurchase and retirement of common stock | (331,800) | (198,600) | (150,000) |
| Net cash (used in) provided by financing activities | (12,400) | 7,700 | (66,200) |
| Effect of exchange rate changes on cash and cash equivalents | (200) | (800) | 300 |
| Net increase in cash and cash equivalents | 186,000 | 58,400 | 26,800 |
| Cash and cash equivalents, beginning of year | 279,800 | 221,400 | |
| Cash and cash equivalents, end of year | 465,800 | 279,800 | 221,400 |
| Supplemental cash flow information: | |||
| Income taxes paid | 152,000 | 124,400 | 129,100 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTUITIVE SURGICAL INC | ||
Ticker: ISRG Fiscal Year: 2011 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2011 10-K (Filed: Feb 6, 2012) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2011 | Dec 31, 2010 | |
| ASSETS | ||
| Cash and cash equivalents | $ 465,800 | 279,800 |
| Short-term investments | 563,400 | 630,600 |
| Accounts receivable, net of allowances of $5.6 and $4.8 at December 31, 2011 and 2010, respectively | 297,900 | 246,800 |
| Inventory | 112,100 | 86,800 |
| Prepaids and other current assets | 20,900 | 23,300 |
| Deferred tax assets | 6,200 | 8,500 |
| Total current assets | 1,466,300 | 1,275,800 |
| Property, plant and equipment, net | 197,200 | 159,800 |
| Long-term investments | 1,142,600 | 698,500 |
| Long-term deferred tax asset | 69,100 | 73,300 |
| Intangible and other assets, net | 71,000 | 66,100 |
| Goodwill | 116,900 | 116,900 |
| Total assets | 3,063,100 | 2,390,400 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Accounts payable | 45,800 | 35,600 |
| Accrued compensation and employee benefits | 83,100 | 63,400 |
| Deferred revenue | 154,200 | 126,100 |
| Other accrued liabilities | 37,500 | 48,700 |
| Total current liabilities | 320,600 | 273,800 |
| Other long-term liabilities | 96,900 | 79,200 |
| Total liabilities | 417,500 | 353,000 |
| Commitments and contingencies (Note 6) | ||
| Stockholders' equity: | ||
| Preferred stock, 2.5 shares authorized, $0.001 par value, issuable in series; no shares issued and outstanding as of December 31, 2011 and 2010, respectively | ||
| Common stock, 100.0 shares authorized, $0.001 par value, 39.3 and 38.9 shares issued and outstanding as of December 31, 2011 and 2010, respectively | ||
| Additional paid-in capital | 1,742,800 | 1,316,900 |
| Retained earnings | 901,900 | 718,900 |
| Accumulated other comprehensive income | 900 | 1,600 |
| Total stockholders' equity | 2,645,600 | 2,037,400 |
| Total liabilities and stockholders' equity | 3,063,100 | 2,390,400 |
| External Links | |
| INTUITIVE SURGICAL INC (ISRG) Fiscal Year 2011 | |
| 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 |