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STOCKHOLDERS' EQUITY
 3 Months Ended
Mar. 31, 2019
Equity [Abstract]  
STOCKHOLDERS' EQUITY
STOCKHOLDERS’ EQUITY
Stockholders’ Equity
The following tables present the changes in stockholders’ equity (in millions):
 
Three Months Ended March 31, 2019
 
Common Stock
 
Additional
Paid-In
Capital
 
Retained
Earnings
 
Accumulated
Other
Comprehensive
Loss
 
Total Intuitive Surgical, Inc. Stockholders’ Equity
 
Noncontrolling Interest in Joint Venture
 
Total Stockholders’ Equity
 
Shares
 
Amount
 
 
 
 
 
 
Balances at December 31, 2018
114.5

 
$
0.1

 
$
5,170.3

 
$
1,521.7

 
$
(13.3
)
 
$
6,678.8

 
$
8.7

 
$
6,687.5

Issuance of common stock through employee stock plans
1.2

 
 
 
88.8

 
 
 
 
 
88.8

 
 
 
88.8

Shares withheld related to net share settlement of equity awards
(0.3
)
 
 
 
(6.4
)
 
(132.2
)
 
 
 
(138.6
)
 
 
 
(138.6
)
Share-based compensation expense related to employee stock plans
 
 
 
 
76.1

 
 
 
 
 
76.1

 
 
 
76.1

Net income attributable to Intuitive Surgical, Inc.
 
 
 
 
 
 
306.5

 
 
 
306.5

 
 
 
306.5

Other comprehensive income
 
 
 
 
 
 
 
 
12.6

 
12.6

 
 
 
12.6

Capital contribution from noncontrolling interest
 
 
 
 
 
 
 
 
 
 
—

 
10.0

 
10.0

Net loss attributable to noncontrolling interest in joint venture
 
 
 
 
 
 
 
 
 
 
—

 
(2.5
)
 
(2.5
)
Balances at March 31, 2019
115.4

 
$
0.1

 
$
5,328.8

 
$
1,696.0

 
$
(0.7
)
 
$
7,024.2

 
$
16.2

 
$
7,040.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2018
 
Common Stock
 
Additional
Paid-In
Capital
 
Retained
Earnings
 
Accumulated
Other
Comprehensive
Loss
 
Total Intuitive Surgical, Inc. Stockholders’ Equity
 
Noncontrolling Interest in Joint Venture
 
Total Stockholders’ Equity
 
Shares
 
Amount
 
 
 
 
 
 
Balances at December 31, 2017
112.3

 
$
0.1

 
$
4,679.2

 
$
115.0

 
$
(15.5
)
 
$
4,778.8

 
$
1.6

 
$
4,780.4

Adoption of new accounting standards
 
 
 
 
 
 
392.1

 
(1.3
)
 
390.8

 
 
 
390.8

Issuance of common stock through employee stock plans
1.2

 
 
 
86.2

 
 
 
 
 
86.2

 
 
 
86.2

Shares withheld related to net share settlement of equity awards
(0.2
)
 
 
 
(5.8
)
 
(96.7
)
 
 
 
(102.5
)
 
 
 
(102.5
)
Share-based compensation expense related to employee stock plans
 
 
 
 
57.5

 
 
 
 
 
57.5

 
 
 
57.5

Net income attributable to Intuitive Surgical, Inc.
 
 
 
 
 
 
287.6

 
 
 
287.6

 
 
 
287.6

Other comprehensive loss
 
 
 
 
 
 
 
 
(1.3
)
 
(1.3
)
 
 
 
(1.3
)
Capital contribution from noncontrolling interest
 
 
 
 
 
 
 
 
 
 
—

 
8.0

 
8.0

Net loss attributable to noncontrolling interest in joint venture
 
 
 
 
 
 
 
 
 
 
—

 
(0.3
)
 
(0.3
)
Balances at March 31, 2018
113.3

 
$
0.1

 
$
4,817.1

 
$
698.0

 
$
(18.1
)
 
$
5,497.1

 
$
9.3

 
$
5,506.4


Stock Repurchase Program
The Company’s Board of Directors (the “Board”) has authorized an aggregate of $7.5 billion of funding for the Company’s common stock repurchase program (the “Repurchase Program”) since its establishment in March 2009. The most recent authorization occurred in January 2019 when the Board increased the authorized amount available under Repurchase Program to $2.0 billion. As of March 31, 2019, the remaining amount of share repurchases authorized by the Board was approximately $2.0 billion.
Accumulated Other Comprehensive Income (Loss)
The components of accumulated other comprehensive income (loss), net of tax, for the three months ended March 31, 2019, and 2018, are as follows (in millions):
 
Three Months Ended March 31, 2019
 
Gains (Losses)
on Hedge
Instruments
 
Unrealized Gains
(Losses) on Available-for-Sale Securities
 
Foreign
Currency
Translation
Gains (Losses)
 
Employee Benefit Plans
 
Total
Beginning balance
$
0.2

 
$
(9.8
)
 
$
(0.3
)
 
$
(3.4
)
 
$
(13.3
)
Other comprehensive income (loss) before reclassifications
3.5

 
11.6

 
(0.4
)
 
(0.1
)
 
14.6

Amounts reclassified from accumulated other comprehensive income (loss)
(2.1
)
 
—

 
—

 
0.1

 
(2.0
)
Net current-period other comprehensive income (loss)
1.4

 
11.6

 
(0.4
)
 
—

 
12.6

Ending balance
$
1.6

 
$
1.8

 
$
(0.7
)
 
$
(3.4
)
 
$
(0.7
)
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2018
 
Gains (Losses)
on Hedge
Instruments
 
Unrealized Gains
(Losses) on Available-for-Sale Securities
 
Foreign
Currency
Translation
Gains (Losses)
 
Employee Benefit Plans
 
Total
Beginning balance
$
(2.4
)
 
$
(11.3
)
 
$
2.3

 
$
(4.1
)
 
$
(15.5
)
Other comprehensive income (loss) before reclassifications
(3.0
)
 
(7.4
)
 
4.5

 
0.3

 
(5.6
)
Amounts reclassified from accumulated other comprehensive income (loss)
2.2

 
1.2

 
—

 
(0.4
)
 
3.0

Net current-period other comprehensive income (loss)
(0.8
)
 
(6.2
)
 
4.5

 
(0.1
)
 
(2.6
)
Ending balance
$
(3.2
)
 
$
(17.5
)
 
$
6.8

 
$
(4.2
)
 
$
(18.1
)