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: 2012 | |||
Consolidated Statements Of Income | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 4, 2013) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Revenue: | |||
| Product | $ 1,836,200 | 1,478,900 | 1,189,100 |
| Service | 342,600 | 278,400 | 223,900 |
| Total revenue | 2,178,800 | 1,757,300 | 1,413,000 |
| Cost of revenue: | |||
| Product | 495,300 | 382,300 | 297,300 |
| Service | 113,200 | 101,200 | 85,700 |
| Total cost of revenue | 608,500 | 483,500 | 383,000 |
| Gross profit | 1,570,300 | 1,273,800 | 1,030,000 |
| Operating expenses: | |||
| Selling, general and administrative | 522,200 | 438,800 | 358,800 |
| Research and development | 170,000 | 140,200 | 116,000 |
| Total operating expenses | 692,200 | 579,000 | 474,800 |
| Income from operations | 878,100 | 694,800 | 555,200 |
| Interest and other income (expense), net | 15,800 | 14,900 | 17,100 |
| Income before income taxes | 893,900 | 709,700 | 572,300 |
| Income tax expense | 237,300 | 214,600 | 190,500 |
| Net income | 656,600 | 495,100 | 381,800 |
| Net income per share: | |||
| Basic | 16.50 | 12.63 | 9.74 |
| Diluted | 15.98 | 12.32 | 9.47 |
| Shares used in computing net income per share: | |||
| Basic | 39,800 | 39,200 | 39,200 |
| Diluted | 41,100 | 40,200 | 40,300 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2012 | |||
Statement of Other Comprehensive Income | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 4, 2013) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Net income | $ 656,600 | 495,100 | 381,800 |
| Other comprehensive income (loss): | |||
| Change in foreign currency translation gains (losses) | 500 | (300) | (300) |
| Available-for-sale investments: | |||
| Unrealized gains (losses), net of tax | 5,100 | 700 | 1,000 |
| Less: Reclassification adjustment for (gains) losses on investments recognized during the year | 100 | (900) | (600) |
| Net change, net of tax effect | 5,200 | (200) | 400 |
| Derivative instruments: | |||
| Unrealized gains (losses) | (1,100) | 500 | 200 |
| Less: Reclassification adjustment for (gains) losses on derivative instruments recognized during the year | 1,100 | (700) | |
| Net change, net of tax effect | (200) | 200 | |
| Other comprehensive income | 5,700 | (700) | 300 |
| Total other comprehensive income | 662,300 | 494,400 | 382,100 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2012 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 4, 2013) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Operating activities: | |||
| Net income | $ 656,600 | 495,100 | 381,800 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 34,700 | 28,700 | 23,700 |
| Amortization of intangible assets | 23,100 | 17,800 | 16,700 |
| Accretion of discounts and amortization of premiums on investments, net | 33,100 | 22,600 | 17,800 |
| Deferred income taxes | (20,800) | 7,100 | (21,500) |
| Income tax benefits from employee stock option plans | 93,900 | 48,600 | 57,900 |
| Excess tax benefit from stock-based compensation | (94,200) | (58,800) | (65,200) |
| Stock-based compensation expense | 153,300 | 136,400 | 117,600 |
| Changes in operating assets and liabilities, net of effects of acquisition: | |||
| Accounts receivable | (68,900) | (51,100) | (41,500) |
| Inventory | (7,100) | (25,300) | (29,200) |
| Prepaids and other assets | (37,100) | (9,400) | 1,100 |
| Accounts payable | 8,400 | 10,300 | 8,100 |
| Accrued compensation and employee benefits | 21,000 | 19,600 | 13,800 |
| Deferred revenue | 30,500 | 28,100 | 26,500 |
| Other accrued liabilities | (12,300) | 7,900 | 38,200 |
| Net cash provided by operating activities | 814,200 | 677,600 | 545,800 |
| Investing activities: | |||
| Purchase of investments | (1,833,900) | (1,532,200) | (1,385,400) |
| Proceeds from sales of investments | 329,800 | 444,300 | 589,300 |
| Proceeds from maturities of investments | 800,200 | 691,800 | 397,800 |
| Purchase of property, plant and equipment, intellectual property and business | (141,800) | (82,900) | (96,000) |
| Net cash used in investing activities | (845,700) | (479,000) | (494,300) |
| Financing activities: | |||
| Proceeds from issuance of common stock, net | 263,300 | 260,600 | 141,100 |
| Excess tax benefit from stock-based compensation | 94,200 | 58,800 | 65,200 |
| Repurchase and retirement of common stock | (238,300) | (331,800) | (198,600) |
| Net cash (used in) provided by financing activities | 119,200 | (12,400) | 7,700 |
| Effect of exchange rate changes on cash and cash equivalents | 200 | (200) | (800) |
| Net increase (decrease) in cash and cash equivalents | 87,900 | 186,000 | 58,400 |
| Cash and cash equivalents, beginning of year | 465,800 | 279,800 | |
| Cash and cash equivalents, end of year | 553,700 | 465,800 | 279,800 |
| Supplemental cash flow information: | |||
| Income taxes paid | 226,100 | 152,000 | 124,400 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTUITIVE SURGICAL INC | ||
Ticker: ISRG Fiscal Year: 2012 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2012 10-K (Filed: Feb 4, 2013) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2012 | Dec 31, 2011 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 553,700 | 465,800 |
| Short-term investments | 770,700 | 563,400 |
| Accounts receivable, net of allowances of $3.0 and $5.6 at December 31, 2012 and 2011, respectively | 370,300 | 297,900 |
| Inventory | 121,500 | 112,100 |
| Prepaids and other current assets | 67,300 | 20,900 |
| Deferred tax assets | 9,300 | 6,200 |
| Total current assets | 1,892,800 | 1,466,300 |
| Property, plant and equipment, net | 241,800 | 197,200 |
| Long-term investments | 1,596,100 | 1,142,600 |
| Long-term deferred tax asset | 87,000 | 69,100 |
| Intangible and other assets, net | 103,400 | 71,000 |
| Goodwill | 138,100 | 116,900 |
| Total assets | 4,059,200 | 3,063,100 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 57,600 | 45,800 |
| Accrued compensation and employee benefits | 104,000 | 83,100 |
| Deferred revenue | 185,700 | 154,200 |
| Other accrued liabilities | 54,300 | 37,500 |
| Total current liabilities | 401,600 | 320,600 |
| Other long-term liabilities | 77,500 | 96,900 |
| Total liabilities | 479,100 | 417,500 |
| 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, 2012 and 2011, respectively | ||
| Common stock, 100.0 shares authorized, $0.001 par value, 40.2 and 39.3 shares issued and outstanding as of December 31, 2012 and 2011, respectively | ||
| Additional paid-in capital | 2,240,100 | 1,742,800 |
| Retained earnings | 1,333,400 | 901,900 |
| Accumulated other comprehensive income | 6,600 | 900 |
| Total stockholders' equity | 3,580,100 | 2,645,600 |
| Total liabilities and stockholders' equity | 4,059,200 | 3,063,100 |
| External Links | |
| INTUITIVE SURGICAL INC (ISRG) Fiscal Year 2012 | |
| 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 |