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: 2022 | |||
Consolidated Statements Of Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 10, 2023) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Revenue: | |||
| Total revenue | $ 6,222,200 | 5,710,100 | 4,358,400 |
| Cost of revenue: | |||
| Total cost of revenue | 2,026,200 | 1,751,600 | 1,497,200 |
| Gross profit | 4,196,000 | 3,958,500 | 2,861,200 |
| Operating expenses: | |||
| Selling, general and administrative | 1,739,900 | 1,466,500 | 1,216,300 |
| Research and development | 879,000 | 671,000 | 595,100 |
| Total operating expenses | 2,618,900 | 2,137,500 | 1,811,400 |
| Income from operations | 1,577,100 | 1,821,000 | 1,049,800 |
| Interest and other income, net | 29,700 | 69,300 | 157,200 |
| Income before taxes | 1,606,800 | 1,890,300 | 1,207,000 |
| Income tax expense | 262,400 | 162,200 | 140,200 |
| Net income | 1,344,400 | 1,728,100 | 1,066,800 |
| Less: net income attributable to noncontrolling interest in joint venture | 22,100 | 23,500 | 6,200 |
| Net income attributable to Intuitive Surgical, Inc. | 1,322,300 | 1,704,600 | 1,060,600 |
| Net income per share attributable to Intuitive Surgical, Inc.: | |||
| Basic (usd per share) | 3.72 | 4.79 | 3.02 |
| Diluted (usd per share) | 3.65 | 4.66 | 2.94 |
| Shares used in computing net income per share attributable to Intuitive Surgical, Inc.: | |||
| Basic (shares) | 355,700 | 356,100 | 351,100 |
| Diluted (shares) | 362,000 | 365,800 | 361,000 |
| Products and Services | |||
| Product | |||
| Total revenue | 5,198,000 | 4,793,900 | 3,634,600 |
| Total cost of revenue | 1,700,300 | 1,464,100 | 1,230,300 |
| Service | |||
| Total revenue | 1,024,200 | 916,200 | 723,800 |
| Total cost of revenue | 325,900 | 287,500 | 266,900 |
| Related Party | |||
| Joint venture | |||
| Less: net income attributable to noncontrolling interest in joint venture | 22,100 | 23,500 | 6,200 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2022 | |||
Consolidated Statements Of Comprehensive Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 10, 2023) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net income | $ 1,344,400 | 1,728,100 | 1,066,800 |
| Other comprehensive income (loss), net of tax: | |||
| Change in foreign currency translation gains (losses) | (500) | (13,300) | 5,200 |
| Available-for-sale securities (net of tax): | |||
| Change in unrealized gains (losses) | (138,200) | (45,500) | 13,800 |
| Less: Reclassification adjustment for gains on securities | 0 | 0 | (4,700) |
| Net change | (138,200) | (45,500) | 9,100 |
| Hedge instruments (net of tax): | |||
| Change in unrealized gains (losses) | (35,000) | 12,300 | (800) |
| Less: Reclassification adjustment for (gains) losses on hedge instruments | 27,600 | (4,900) | (2,800) |
| Net change | (7,400) | 7,400 | (3,600) |
| Employee benefit plans (net of tax): | |||
| Change in unrealized gains | 5,800 | 100 | 1,000 |
| Less: Reclassification adjustment for losses on employee benefit plans | 200 | 1,500 | 1,300 |
| Net change | 6,000 | 1,600 | 2,300 |
| Other comprehensive income (loss), net of tax | (140,100) | (49,800) | 13,000 |
| Total comprehensive income | 1,204,300 | 1,678,300 | 1,079,800 |
| Less: comprehensive income attributable to noncontrolling interest | 20,300 | 22,800 | 6,700 |
| Total comprehensive income attributable to Intuitive Surgical, Inc. | 1,184,000 | 1,655,500 | 1,073,100 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2022 | |||
Consolidated Statements Of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 10, 2023) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Operating activities: | |||
| Net income | $ 1,344,400 | 1,728,100 | 1,066,800 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and loss on disposal of property, plant, and equipment, net | 338,000 | 282,800 | 226,400 |
| Amortization of intangible assets | 27,800 | 27,400 | 49,800 |
| Gain on sale of business | (3,800) | 0 | 0 |
| Loss (gain) on investments, accretion of discounts, and amortization of premiums on investments, net | 49,000 | 10,600 | (55,100) |
| Deferred income taxes | (185,300) | (62,600) | 57,600 |
| Share-based compensation expense | 513,200 | 449,200 | 395,400 |
| Amortization of contract acquisition assets | 26,600 | 22,000 | 17,100 |
| Changes in operating assets and liabilities, net of effects of acquisitions: | |||
| Accounts receivable | (159,300) | (142,300) | 5,700 |
| Inventory | (546,600) | (256,000) | (170,100) |
| Prepaids and other assets | (129,200) | (204,900) | (111,800) |
| Accounts payable | 21,300 | 36,000 | (32,300) |
| Accrued compensation and employee benefits | 51,500 | 115,100 | (16,600) |
| Deferred revenue | 21,500 | 32,600 | 15,000 |
| Other liabilities | 121,700 | 51,400 | 36,900 |
| Net cash provided by operating activities | 1,490,800 | 2,089,400 | 1,484,800 |
| Investing activities: | |||
| Purchase of investments | (1,399,500) | (6,452,000) | (4,292,900) |
| Proceeds from sales of investments | 61,100 | 84,900 | 800,700 |
| Proceeds from maturities of investments | 3,254,400 | 4,267,800 | 2,930,800 |
| Purchase of property, plant, and equipment | (532,400) | (339,500) | (341,500) |
| Acquisition of businesses, net of cash, and intellectual property and other investing activities | 12,800 | 22,700 | 37,700 |
| Net cash provided by (used in) investing activities | 1,370,800 | (2,461,500) | (940,600) |
| Financing activities: | |||
| Proceeds from issuance of common stock relating to employee stock plans | 233,800 | 276,500 | 308,800 |
| Taxes paid related to net share settlement of equity awards | (194,200) | (211,600) | (175,200) |
| Repurchase of common stock | (2,607,400) | 0 | (134,300) |
| Payment of deferred purchase consideration | (4,500) | (21,900) | (85,000) |
| Net cash provided by (used in) financing activities | (2,572,300) | 43,000 | (85,700) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 5,400 | (3,400) | (2,600) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 294,700 | (332,500) | 455,900 |
| Cash, cash equivalents, and restricted cash, beginning of year | 1,306,000 | 1,638,500 | |
| Cash, cash equivalents, and restricted cash, end of year | 1,600,700 | 1,306,000 | 1,638,500 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTUITIVE SURGICAL INC | ||
Ticker: ISRG Fiscal Year: 2022 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 10, 2023) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,581,200 | 1,290,900 |
| Short-term investments | 2,536,700 | 2,913,100 |
| Accounts receivable, net of allowances of $22.4 and $20.2 as of December 31, 2022, and 2021, respectively | 942,100 | 782,700 |
| Inventory | 893,200 | 587,100 |
| Prepaids and other current assets | 299,800 | 271,100 |
| Total current assets | 6,253,000 | 5,844,900 |
| Property, plant, and equipment, net | 2,374,200 | 1,876,400 |
| Long-term investments | 2,623,600 | 4,415,500 |
| Deferred tax assets | 664,600 | 441,400 |
| Intangible and other assets, net | 710,100 | 633,200 |
| Goodwill | 348,500 | 343,600 |
| Total assets | 12,974,000 | 13,555,000 |
| LIABILITIES AND STOCKHOLDERS EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 147,000 | 121,200 |
| Accrued compensation and employee benefits | 401,600 | 350,100 |
| Deferred revenue | 397,300 | 377,200 |
| Other accrued liabilities | 476,200 | 301,300 |
| Total current liabilities | 1,422,100 | 1,149,800 |
| Other long-term liabilities | 439,300 | 453,700 |
| Total liabilities | 1,861,400 | 1,603,500 |
| 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, 2022, and 2021 | 0 | 0 |
| Common stock, 600.0 shares authorized, $0.001 par value, 350.0 shares and 357.7 shares issued and outstanding as of December 31, 2022, and 2021, respectively | 400 | 400 |
| Additional paid-in capital | 7,703,900 | 7,164,000 |
| Retained earnings | 3,500,100 | 4,760,900 |
| Accumulated other comprehensive loss | (162,500) | (24,200) |
| Total Intuitive Surgical, Inc. stockholders equity | 11,041,900 | 11,901,100 |
| Noncontrolling interest in joint venture | 70,700 | 50,400 |
| Total stockholders equity | 11,112,600 | 11,951,500 |
| Total liabilities and stockholders equity | 12,974,000 | 13,555,000 |
| External Links | |
| INTUITIVE SURGICAL INC (ISRG) Fiscal Year 2022 | |
| 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 |