XML 28 R14.htm IDEA: XBRL DOCUMENT v3.20.2

STOCKHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Stockholders’ Equity

The following tables present the changes in stockholders’ equity (in millions):

			Three Months Ended June 30, 2020
			Common Stock																		Additional Paid-In Capital						Retained Earnings						Accumulated Other Comprehensive Income						Total Intuitive Surgical, Inc. Stockholders’ Equity						Noncontrolling Interest in Joint Venture						Total Stockholders’ Equity
			Shares						Amount
Beginning balance			116.6						$	0.1					$	5,926.8					$	2,570.9					$	8.9					$	8,506.7					$	23.8					$	8,530.5
Issuance of common stock through employee stock plans			0.4						—						62.7																		62.7												62.7
Shares withheld related to net share settlement of equity awards			—						—						(0.3)						(5.9)												(6.2)												(6.2)
Share-based compensation expense related to employee stock plans															95.9																		95.9												95.9
Net income attributable to Intuitive Surgical, Inc.																					68.0												68.0												68.0
Other comprehensive income (loss)																											13.4						13.4						(0.1)						13.3
Net income attributable to noncontrolling interest in joint venture																																	—						2.2						2.2
Ending balance			117.0						$	0.1					$	6,085.1					$	2,633.0					$	22.3					$	8,740.5					$	25.9					$	8,766.4

			Three Months Ended June 30, 2019
			Common Stock																		Additional Paid-In Capital						Retained Earnings						Accumulated Other Comprehensive Income (Loss)						Total Intuitive Surgical, Inc. Stockholders’ Equity						Noncontrolling Interest in Joint Venture						Total Stockholders’ Equity
			Shares						Amount
Beginning balance			115.4						$	0.1					$	5,328.8					$	1,696.0					$	(0.7)					$	7,024.2					$	16.2					$	7,040.4
Issuance of common stock through employee stock plans			0.2						—						30.8																		30.8												30.8
Shares withheld related to net share settlement of equity awards			—						—						(0.3)						(6.1)												(6.4)												(6.4)
Share-based compensation expense related to employee stock plans															81.6																		81.6												81.6
Repurchase and retirement of common stock			(0.4)						—						(10.8)						(189.2)												(200.0)												(200.0)
Net income attributable to Intuitive Surgical, Inc.																					318.3												318.3												318.3
Other comprehensive income																											16.8						16.8												16.8
Net loss attributable to noncontrolling interest in joint venture																																	—						(1.9)						(1.9)
Ending balance			115.2						$	0.1					$	5,430.1					$	1,819.0					$	16.1					$	7,265.3					$	14.3					$	7,279.6

			Six Months Ended June 30, 2020
			Common Stock																		Additional Paid-In Capital						Retained Earnings						Accumulated Other Comprehensive Income						Total Intuitive Surgical, Inc. Stockholders’ Equity						Noncontrolling Interest in Joint Venture						Total Stockholders’ Equity
			Shares						Amount
Beginning balance			116.0						$	0.1					$	5,756.8					$	2,494.5					$	12.4					$	8,263.8					$	20.9					$	8,284.7
Adoption of new accounting standard																					(0.1)												(0.1)												(0.1)
Issuance of common stock through employee stock plans			1.5						—						154.0																		154.0												154.0
Shares withheld related to net share settlement of equity awards			(0.3)						—						(7.0)						(148.1)												(155.1)												(155.1)
Share-based compensation expense related to employee stock plans															186.5																		186.5												186.5
Repurchase and retirement of common stock			(0.2)						—						(5.2)						(94.8)												(100.0)												(100.0)
Net income attributable to Intuitive Surgical, Inc.																					381.5												381.5												381.5
Other comprehensive income																											9.9						9.9						0.1						10.0
Net income attributable to noncontrolling interest in joint venture																																	—						4.9						4.9
Ending balance			117.0						$	0.1					$	6,085.1					$	2,633.0					$	22.3					$	8,740.5					$	25.9					$	8,766.4

			Six Months Ended June 30, 2019
			Common Stock																		Additional Paid-In Capital						Retained Earnings						Accumulated Other Comprehensive Income (Loss)						Total Intuitive Surgical, Inc. Stockholders’ Equity						Noncontrolling Interest in Joint Venture						Total Stockholders’ Equity
			Shares						Amount
Beginning balance			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			1.4						—						119.6																		119.6												119.6
Shares withheld related to net share settlement of equity awards			(0.3)						—						(6.7)						(138.3)												(145.0)												(145.0)
Share-based compensation expense related to employee stock plans															157.7																		157.7												157.7
Repurchase and retirement of common stock			(0.4)						—						(10.8)						(189.2)												(200.0)												(200.0)
Net income attributable to Intuitive Surgical, Inc.																					624.8												624.8												624.8
Other comprehensive income																											29.4						29.4												29.4
Capital contribution from noncontrolling interest																																	—						10.0						10.0
Net loss attributable to noncontrolling interest in joint venture																																	—						(4.4)						(4.4)
Ending balance			115.2						$	0.1					$	5,430.1					$	1,819.0					$	16.1					$	7,265.3					$	14.3					$	7,279.6

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 the Repurchase Program to $2.0 billion. As of June 30, 2020, the remaining amount of share repurchases authorized by the Board was $1.6 billion.

The following table provides share repurchase activities (in millions, except per share amounts):

			Three Months Ended June 30,																		Six Months Ended June 30,
			2020						2019						2020						2019
Shares repurchased			—						0.4						0.2						0.4
Average price per share			$	—					$	477.44					$	521.83					$	477.44
Value of shares repurchased			$	—					$	200.0					$	100.0					$	200.0

Accumulated Other Comprehensive Income (Loss), Net of Tax, Attributable to Intuitive

The components of accumulated other comprehensive income (loss), net of tax, attributable to Intuitive are as follows (in millions):

			Three Months Ended June 30, 2020
			Gains (Losses) on Hedge Instruments						Unrealized Gains (Losses) on Available-for-Sale Securities						Foreign Currency Translation Gains (Losses)						Employee Benefit Plans						Total
Beginning balance			$	1.8					$	36.2					$	(20.6)					$	(8.5)					$	8.9
Other comprehensive income (loss) before reclassifications			—						11.6						6.8						—						18.4
Amounts reclassified from accumulated other comprehensive income (loss)			(1.4)						(3.7)						—						0.1						(5.0)
Net current-period other comprehensive income (loss)			(1.4)						7.9						6.8						0.1						13.4
Ending balance			$	0.4					$	44.1					$	(13.8)					$	(8.4)					$	22.3
			Three Months Ended June 30, 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			$	1.6					$	1.8					$	(0.7)					$	(3.4)					$	(0.7)
Other comprehensive income (loss) before reclassifications			(0.2)						18.0						(0.1)						—						17.7
Amounts reclassified from accumulated other comprehensive income (loss)			(0.9)						(0.1)						—						0.1						(0.9)
Net current-period other comprehensive income (loss)			(1.1)						17.9						(0.1)						0.1						16.8
Ending balance			$	0.5					$	19.7					$	(0.8)					$	(3.3)					$	16.1

			Six Months Ended June 30, 2020
			Gains (Losses) on Hedge Instruments						Unrealized Gains (Losses) on Available-for-Sale Securities						Foreign Currency Translation Gains (Losses)						Employee Benefit Plans						Total
Beginning balance			$	0.7					$	20.4					$	—					$	(8.7)					$	12.4
Other comprehensive income (loss) before reclassifications			2.8						28.4						(13.8)						—						17.4
Amounts reclassified from accumulated other comprehensive income (loss)			(3.1)						(4.7)						—						0.3						(7.5)
Net current-period other comprehensive income (loss)			(0.3)						23.7						(13.8)						0.3						9.9
Ending balance			$	0.4					$	44.1					$	(13.8)					$	(8.4)					$	22.3
			Six Months Ended June 30, 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			3.3						29.6						(0.5)						(0.1)						32.3
Amounts reclassified from accumulated other comprehensive income (loss)			(3.0)						(0.1)						—						0.2						(2.9)
Net current-period other comprehensive income (loss)			0.3						29.5						(0.5)						0.1						29.4
Ending balance			$	0.5					$	19.7					$	(0.8)					$	(3.3)					$	16.1

X

- References

No definition available.

+ Details

Name:	us-gaap_EquityAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

+ Details

Name:	us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration