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: 2015 | |||
Consolidated Statements Of Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 2, 2016) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Revenue: | |||
| Product | $ 1,919,600 | 1,702,700 | 1,867,800 |
| Service | 464,800 | 429,000 | 397,300 |
| Total revenue | 2,384,400 | 2,131,700 | 2,265,100 |
| Cost of revenue: | |||
| Product | 647,200 | 569,900 | 543,400 |
| Service | 159,300 | 148,000 | 127,500 |
| Total cost of revenue | 806,500 | 717,900 | 670,900 |
| Gross profit | 1,577,900 | 1,413,800 | 1,594,200 |
| Operating expenses: | |||
| Selling, general and administrative | 640,500 | 691,000 | 574,000 |
| Research and development | 197,400 | 178,000 | 167,700 |
| Total operating expenses | 837,900 | 869,000 | 741,700 |
| Income from operations | 740,000 | 544,800 | 852,500 |
| Interest and other income, net | 18,500 | 4,200 | 18,400 |
| Income before taxes | 758,500 | 549,000 | 870,900 |
| Income tax expense | 169,700 | 130,200 | 199,900 |
| Net income | 588,800 | 418,800 | 671,000 |
| Net income per share: | |||
| Basic (in dollars per share) | 15.87 | 11.35 | 17.12 |
| Diluted (in dollars per share) | 15.54 | 11.11 | 16.73 |
| Shares used in computing net income per share: | |||
| Basic (in shares) | 37,100 | 36,900 | 39,200 |
| Diluted (in shares) | 37,900 | 37,700 | 40,100 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2015 | |||
Consolidated Statements Of Other Comprehensive Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 2, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Net income | $ 588,800 | 418,800 | 671,000 |
| Other comprehensive income (loss): | |||
| Change in foreign currency translation gains (losses) | (1,200) | (2,500) | 0 |
| Available-for-sale investments: | |||
| Change in unrealized losses, net of tax | (3,200) | (3,900) | (3,900) |
| Less: Reclassification adjustment for net gains (losses) on investments recognized during the year, net of tax | (800) | 2,000 | (600) |
| Net change, net of tax effect | (4,000) | (1,900) | (4,500) |
| Derivative instruments: | |||
| Change in unrealized gains (losses) | 7,800 | 8,600 | (1,800) |
| Less: Reclassification adjustment for gains (losses) on derivative instruments recognized during the year, net of tax | (7,400) | (7,500) | 1,800 |
| Net change, net of tax effect | 400 | 1,100 | 0 |
| Employee benefit plans: | |||
| Change in unrealized losses | (400) | (4,200) | 0 |
| Less: Reclassification adjustment for gains (losses) on employee benefit plans recognized during the year, net of tax | 800 | 300 | 0 |
| Net change, net of tax effect | 400 | (3,900) | 0 |
| Other comprehensive loss | (4,400) | (7,200) | (4,500) |
| Total comprehensive income | 584,400 | 411,600 | 666,500 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2015 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 2, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Operating activities: | |||
| Net income | $ 588,800 | 418,800 | 671,000 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and loss on disposal of property, plant, and equipment, net | 65,100 | 52,000 | 46,000 |
| Amortization of intangible assets | 24,400 | 22,400 | 21,300 |
| Loss (gain) on investment, accretion of discounts, and amortization of premiums on investments, net | 26,400 | 33,900 | 36,800 |
| Deferred income taxes | 4,600 | (35,000) | (38,500) |
| Income tax benefits from employee stock plans | 21,500 | 13,900 | 34,500 |
| Excess tax benefit from employee stock plans | (34,300) | (24,000) | (38,000) |
| Share-based compensation expense | 167,900 | 168,900 | 168,900 |
| Changes in operating assets and liabilities, net of effects of acquisition: | |||
| Accounts receivable | (79,200) | (13,700) | 68,900 |
| Inventories | (10,700) | (26,800) | (70,000) |
| Prepaids and other assets | (10,500) | (67,600) | (5,000) |
| Accounts payable | (11,300) | 17,700 | (8,900) |
| Accrued compensation and employee benefits | 21,500 | 21,400 | (33,300) |
| Deferred revenue | 8,200 | 19,800 | 15,200 |
| Other liabilities | (10,500) | 63,400 | 11,100 |
| Net cash provided by operating activities | 771,900 | 665,100 | 880,000 |
| Investing activities: | |||
| Purchase of investments | (1,827,400) | (1,344,600) | (1,443,700) |
| Proceeds from sales of investments | 233,100 | 665,900 | 984,900 |
| Proceeds from maturities of investments | 825,800 | 714,700 | 822,400 |
| Purchase of property, plant and equipment, intellectual property | (81,000) | (105,600) | (104,600) |
| Acquisition of business, net of cash acquired | 0 | (84,300) | 0 |
| Net cash provided by (used in) investing activities | (849,500) | (153,900) | 259,000 |
| Financing activities: | |||
| Proceeds from issuance of common stock relating to employee stock plans | 361,100 | 283,600 | 160,600 |
| Excess tax benefit from employee stock plans | 34,300 | 24,000 | 38,000 |
| Taxes paid related to net share settlement of equity awards | (11,000) | 0 | 0 |
| Repurchase and retirement of common stock | (183,700) | (1,000,000) | (1,109,200) |
| Other financing activities | (7,300) | 0 | 0 |
| Net cash provided by (used in) financing activities | 193,400 | (692,400) | (910,600) |
| Effect of exchange rate changes on cash and cash equivalents | (1,500) | (600) | 0 |
| Net increase (decrease) in cash and cash equivalents | 114,300 | (181,800) | 228,400 |
| Cash and cash equivalents, beginning of year | 600,300 | 782,100 | |
| Cash and cash equivalents, end of year | 714,600 | 600,300 | 782,100 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTUITIVE SURGICAL INC | ||
Ticker: ISRG Fiscal Year: 2015 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2015 10-K (Filed: Feb 2, 2016) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2015 | Dec 31, 2014 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 714,600 | 600,300 |
| Short-term investments | 845,200 | 632,200 |
| Accounts receivable, net of allowances of $2.1 and $0.3 at December 31, 2015 and 2014, respectively | 394,300 | 315,100 |
| Inventories | 167,900 | 181,700 |
| Prepaids and other current assets | 73,500 | 82,600 |
| Total current assets | 2,195,500 | 1,811,900 |
| Property, plant and equipment, net | 432,100 | 387,400 |
| Long-term investments | 1,788,000 | 1,264,500 |
| Long-term deferred tax assets | 167,800 | 171,300 |
| Intangible and other assets, net | 122,800 | 126,300 |
| Goodwill | 201,100 | 198,000 |
| Total assets | 4,907,300 | 3,959,400 |
| LIABILITIES AND STOCKHOLDERS EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 52,600 | 61,600 |
| Accrued compensation and employee benefits | 117,300 | 96,200 |
| Deferred revenue | 225,600 | 216,600 |
| Other accrued liabilities | 96,400 | 126,800 |
| Total current liabilities | 491,900 | 501,200 |
| Other long-term liabilities | 95,900 | 78,800 |
| Total liabilities | 587,800 | 580,000 |
| 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, 2015 and December 31, 2014, respectively | 0 | 0 |
| Common stock, 100.0 shares authorized, $0.001 par value, 37.4 shares and 36.6 shares issued and outstanding as of December 31, 2015 and December 31, 2014, respectively | 0 | 0 |
| Additional paid-in capital | 3,429,800 | 2,896,800 |
| Retained earnings | 899,200 | 487,700 |
| Accumulated other comprehensive loss | (9,500) | (5,100) |
| Total stockholders equity | 4,319,500 | 3,379,400 |
| Total liabilities and stockholders equity | 4,907,300 | 3,959,400 |
| External Links | |
| INTUITIVE SURGICAL INC (ISRG) Fiscal Year 2015 | |
| 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 |