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: 2013 | |||
Consolidated Statements Of Income | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 3, 2014) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Revenue: | |||
| Product | $ 1,867,800 | 1,836,200 | 1,478,900 |
| Service | 397,300 | 342,600 | 278,400 |
| Total revenue | 2,265,100 | 2,178,800 | 1,757,300 |
| Cost of revenue: | |||
| Product | 543,400 | 495,300 | 382,300 |
| Service | 127,500 | 113,200 | 101,200 |
| Total cost of revenue | 670,900 | 608,500 | 483,500 |
| Gross profit | 1,594,200 | 1,570,300 | 1,273,800 |
| Operating expenses: | |||
| Selling, general and administrative | 574,000 | 522,200 | 438,800 |
| Research and development | 167,700 | 170,000 | 140,200 |
| Total operating expenses | 741,700 | 692,200 | 579,000 |
| Income from operations | 852,500 | 878,100 | 694,800 |
| Interest and other income, net | 18,400 | 15,800 | 14,900 |
| Income before taxes | 870,900 | 893,900 | 709,700 |
| Income tax expense | 199,900 | 237,300 | 214,600 |
| Net income | 671,000 | 656,600 | 495,100 |
| Net income per share: | |||
| Basic (in dollars per share) | 17.12 | 16.50 | 12.63 |
| Diluted (in dollars per share) | 16.73 | 15.98 | 12.32 |
| Shares used in computing net income per share: | |||
| Basic (in shares) | 39,200 | 39,800 | 39,200 |
| Diluted (in shares) | 40,100 | 41,100 | 40,200 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2013 | |||
Consolidated Statements Of Other Comprehensive Income | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 3, 2014) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Net income | $ 671,000 | 656,600 | 495,100 |
| Other comprehensive income (loss): | |||
| Change in foreign currency translation gains (losses) | 0 | 600 | (300) |
| Available-for-sale investments: | |||
| Change in unrealized gains (losses), net of tax | (3,900) | 5,000 | 1,400 |
| Less: Reclassification adjustment for gains (losses) on investments recognized during the year | (600) | 100 | (1,600) |
| Net change, net of tax effect | (4,500) | 5,100 | (200) |
| Derivative instruments: | |||
| Change in unrealized gains (losses) | (1,800) | (1,100) | 500 |
| Less: Reclassification adjustment for gains (losses) on derivative instruments recognized during the year, net of tax | 1,800 | 1,100 | (700) |
| Net change, net of tax effect | 0 | 0 | (200) |
| Other comprehensive income (loss) | (4,500) | 5,700 | (700) |
| Total comprehensive income | 666,500 | 662,300 | 494,400 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2013 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 3, 2014) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Operating activities: | |||
| Net income | $ 671,000 | 656,600 | 495,100 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 46,000 | 34,700 | 28,700 |
| Amortization of intangible assets | 21,300 | 23,100 | 17,800 |
| Accretion of discounts and amortization of premiums on investments, net | 36,800 | 33,100 | 22,600 |
| Deferred income taxes | (38,500) | (20,800) | 7,100 |
| Income tax benefits from employee stock option plans | 34,500 | 93,900 | 48,600 |
| Excess tax benefit from share-based compensation | (38,000) | (94,200) | (58,800) |
| Share-based compensation expense | 168,900 | 153,300 | 136,400 |
| Changes in operating assets and liabilities, net of effects of acquisition: | |||
| Accounts receivable | 68,900 | (68,900) | (51,100) |
| Inventory | (70,000) | (7,100) | (25,300) |
| Prepaids and other assets | (5,000) | (37,100) | (9,400) |
| Accounts payable | (8,900) | 8,400 | 10,300 |
| Accrued compensation and employee benefits | (33,300) | 21,000 | 19,600 |
| Deferred revenue | 15,200 | 30,500 | 28,100 |
| Other accrued liabilities | 11,100 | (12,300) | 7,900 |
| Net cash provided by operating activities | 880,000 | 814,200 | 677,600 |
| Investing activities: | |||
| Purchase of investments | (1,443,700) | (1,833,900) | (1,532,200) |
| Proceeds from sales of investments | 984,900 | 329,800 | 444,300 |
| Proceeds from maturities of investments | 822,400 | 800,200 | 691,800 |
| Purchase of property, plant and equipment, intellectual property and business | (104,600) | (141,800) | (82,900) |
| Net cash provided by (used in) investing activities | 259,000 | (845,700) | (479,000) |
| Financing activities: | |||
| Proceeds from issuance of common stock, net | 160,600 | 263,300 | 260,600 |
| Excess tax benefit from share-based compensation | 38,000 | 94,200 | 58,800 |
| Repurchase and retirement of common stock | (1,109,200) | (238,300) | (331,800) |
| Net cash (used in) provided by financing activities | (910,600) | 119,200 | (12,400) |
| Effect of exchange rate changes on cash and cash equivalents | 0 | 200 | (200) |
| Net increase in cash and cash equivalents | 228,400 | 87,900 | 186,000 |
| Cash and cash equivalents, beginning of year | 553,700 | 465,800 | |
| Cash and cash equivalents, end of year | 782,100 | 553,700 | 465,800 |
| Supplemental cash flow information: | |||
| Income taxes paid | 194,100 | 226,100 | 152,000 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTUITIVE SURGICAL INC | ||
Ticker: ISRG Fiscal Year: 2013 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2013 10-K (Filed: Feb 3, 2014) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2013 | Dec 31, 2012 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 782,100 | 553,700 |
| Short-term investments | 621,400 | 770,700 |
| Accounts receivable, net of allowances of $0.5 and $3.0 at December 31, 2013 and 2012, respectively | 301,400 | 370,300 |
| Inventory | 179,600 | 121,500 |
| Prepaids and other current assets | 38,300 | 67,300 |
| Deferred tax assets | 9,600 | 9,300 |
| Total current assets | 1,932,400 | 1,892,800 |
| Property, plant and equipment, net | 309,900 | 241,800 |
| Long-term investments | 1,350,400 | 1,596,100 |
| Long-term deferred tax asset | 126,100 | 87,000 |
| Intangible and other assets, net | 94,100 | 103,400 |
| Goodwill | 137,400 | 138,100 |
| Total assets | 3,950,300 | 4,059,200 |
| LIABILITIES AND STOCKHOLDERS EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 46,200 | 57,600 |
| Accrued compensation and employee benefits | 70,700 | 104,000 |
| Deferred revenue | 200,100 | 185,700 |
| Other accrued liabilities | 63,900 | 54,300 |
| Total current liabilities | 380,900 | 401,600 |
| Other long-term liabilities | 68,000 | 77,500 |
| Total liabilities | 448,900 | 479,100 |
| Commitments and contingencies | ||
| Stockholders equity: | ||
| Preferred stock, 2.5 shares authorized, $0.001 par value, issuable in series; no shares issued and outstanding as of December 31, 2013 and December 31, 2012, respectively | 0 | 0 |
| Common stock, 100.0 shares authorized, $0.001 par value, 38.2 shares and 40.2 shares issued and outstanding as of December 31, 2013 and December 31, 2012, respectively | 0 | 0 |
| Additional paid-in capital | 2,519,900 | 2,240,100 |
| Retained earnings | 979,400 | 1,333,400 |
| Accumulated other comprehensive income | 2,100 | 6,600 |
| Total stockholders equity | 3,501,400 | 3,580,100 |
| Total liabilities and stockholders equity | 3,950,300 | 4,059,200 |
| External Links | |
| INTUITIVE SURGICAL INC (ISRG) Fiscal Year 2013 | |
| 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 |