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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2017, are as follows (in millions, except per share amounts):

	Three Months Ended September 30, 2017												Nine Months Ended September 30, 2017
	As Previously Reported				Adjustments				As Restated				As Previously Reported				Adjustments				As Restated
Revenue:
Product	$	659.3			$	3.9			$	663.2			$	1,807.5			$	16.2			$	1,823.7
Service	146.8				(2.2		)		144.6				429.0				(6.5		)		422.5
Total revenue	806.1				1.7				807.8				2,236.5				9.7				2,246.2
Cost of revenue:
Product	195.0				0.4				195.4				543.1				2.5				545.6
Service	44.3				—				44.3				132.6				—				132.6
Total cost of revenue	239.3				0.4				239.7				675.7				2.5				678.2
Gross profit	566.8				1.3				568.1				1,560.8				7.2				1,568.0
Operating expenses:
Selling, general and administrative	204.8				(0.7		)		204.1				591.7				0.9				592.6
Research and development	83.4				—				83.4				241.5				—				241.5
Total operating expenses	288.2				(0.7		)		287.5				833.2				0.9				834.1
Income from operations	278.6				2.0				280.6				727.6				6.3				733.9
Interest and other income, net	10.8				—				10.8				29.6				—				29.6
Income before taxes	289.4				2.0				291.4				757.2				6.3				763.5
Income tax (benefit) expense	(8.1		)		0.9				(7.2		)		58.4				2.7				61.1
Net income attributable to Intuitive Surgical, Inc.	$	297.5			$	1.1			$	298.6			$	698.8			$	3.6			$	702.4
Net income per share attributable to Intuitive Surgical, Inc.:
Basic	$	2.66			$	0.01			$	2.67			$	6.26			$	0.03			$	6.29
Diluted	$	2.55			$	0.01			$	2.56			$	6.03			$	0.03			$	6.06
Total comprehensive income attributable to Intuitive Surgical, Inc.	$	298.1			$	1.1			$	299.2			$	698.5			$	3.6			$	702.1

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 September 30,								Nine Months Ended September 30,
U.S.	2018				2017				2018				2017
Instruments and accessories	$	368.1			$	312.7			$	1,066.0			$	909.7
Systems	193.6				175.6				490.0				422.3
Services	114.8				106.3				337.6				310.0
Total U.S. revenue	$	676.5			$	594.6			$	1,893.6			$	1,642.0
Outside of U.S. (“OUS”)
Instruments and accessories	$	118.2			$	88.5			$	356.7			$	270.1
Systems	81.0				86.4				296.5				221.6
Services	45.2				38.3				130.9				112.5
Total OUS revenue	$	244.4			$	213.2			$	784.1			$	604.2
Total
Instruments and accessories	$	486.3			$	401.2			$	1,422.7			$	1,179.8
Systems	274.6				262.0				786.5				643.9
Services	160.0				144.6				468.5				422.5
Total revenue	$	920.9			$	807.8			$	2,677.7			$	2,246.2

Summary of Contract Assets and Liabilities

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

	As of
	September 30, 2018				December 31, 2017
Contract assets	$	9.9			$	8.3
Deferred revenue	$	307.1			$	268.6

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