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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Schedule of Impact of Adopting New Standard

Adoption of the standard using the full retrospective method also required the Company to restate certain previously reported results, including the impact to provision for income taxes. The adjustments to the unaudited Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2017, are as follows (in millions, except per share amounts):

	Three Months Ended March 31, 2017
	As Previously Reported				Adjustments				As Restated
Revenue:
Product	$	534.0			$	7.6			$	541.6
Service	140.2				(2.2		)		138.0
Total revenue	674.2				5.4				679.6
Cost of revenue:
Product	163.8				1.7				165.5
Service	44.3				—				44.3
Total cost of revenue	208.1				1.7				209.8
Gross profit	466.1				3.7				469.8
Operating expenses:
Selling, general and administrative	201.1				1.8				202.9
Research and development	73.5				—				73.5
Total operating expenses	274.6				1.8				276.4
Income from operations	191.5				1.9				193.4
Interest and other income, net	8.7				—				8.7
Income before taxes	200.2				1.9				202.1
Income tax expense	20.4				0.9				21.3
Net income attributable to Intuitive Surgical, Inc.	$	179.8			$	1.0			$	180.8
Net income per share attributable to Intuitive Surgical, Inc.:
Basic	$	1.61			$	0.01			$	1.62
Diluted	$	1.56			$	0.01			$	1.57
Total comprehensive income attributable to Intuitive Surgical, Inc.	$	180.7			$	1.0			$	181.7

Selected Condensed Consolidated Statements of Balance Sheet line items, which reflect the impact of adopting the new standard, are as follow (in millions) as of December 31, 2017:

	December 31, 2017
	As Previously Reported				Adjustments				As Restated
ASSETS:
Accounts receivable, net	$	511.9			$	(4.0	)		$	507.9
Prepaids and other current assets	$	97.2			$	2.0			$	99.2
Deferred tax assets	$	87.3			$	(15.3	)		$	72.0
Intangibles and other assets, net	$	159.7			$	36.1			$	195.8
LIABILITIES AND STOCKHOLDERS' EQUITY
Deferred revenue	$	284.5			$	(40.7	)		$	243.8
Other accrued liabilities	$	169.5			$	(0.6	)		$	168.9
Other long-term liabilities	$	327.1			$	6.5			$	333.6
Retained earnings	$	61.4			$	53.6			$	115.0

Revenue Disaggregated by Types and Geography

The following table presents revenue disaggregated by types and geography (in millions):

	Three Months Ended March 31,
U.S.	2018				2017
Instruments and accessories	$	337.6			$	287.6
Systems	124.0				105.4
Services	110.8				101.8
Total U.S. revenue	$	572.4			$	494.8
Outside of U.S. (“OUS”)
Instruments and accessories	$	122.7			$	93.2
Systems	110.5				55.4
Services	41.9				36.2
Total OUS revenue	$	275.1			$	184.8
Total
Instruments and accessories	$	460.3			$	380.8
Systems	234.5				160.8
Services	152.7				138.0
Total revenue	$	847.5			$	679.6

Summary of Contract Assets and Liabilities

The following information summarizes the Company’s contract assets and liabilities (in millions):

	As of
	March 31, 2018				December 31, 2017
Contract assets	$	11.3			$	8.3
Deferred revenue	$	280.0			$	268.6

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