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STOCKHOLDERS' EQUITY
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
Stockholders’ Equity
The following tables present the changes in stockholders’ equity (in millions):
Three Months Ended September 30, 2023
Common StockAdditional Paid-In CapitalRetained EarningsAccumulated Other Comprehensive Income (Loss)Total Intuitive Surgical, Inc. Stockholders’ EquityNoncontrolling Interest in Joint VentureTotal Stockholders’ Equity
SharesAmount
Beginning balance351.3 $0.4 $8,150.8 $3,807.7 $(79.8)$11,879.1 $80.6 $11,959.7 
Issuance of common stock through employee stock plans0.7 — 77.4 — — 77.4 — 77.4 
Shares withheld related to net share settlement of equity awards— — (0.6)(14.2)— (14.8)— (14.8)
Share-based compensation expense related to employee stock plans— — 158.3 — — 158.3 — 158.3 
Net income attributable to Intuitive Surgical, Inc.— — — 415.7 — 415.7 — 415.7 
Other comprehensive income (loss)— — — — 23.3 23.3 (0.2)23.1 
Net income attributable to noncontrolling interest in joint venture— — — — — — 4.1 4.1 
Ending balance352.0 $0.4 $8,385.9 $4,209.2 $(56.5)$12,539.0 $84.5 $12,623.5 
Three Months Ended September 30, 2022
Common StockAdditional
Paid-In
Capital		Retained
Earnings		Accumulated
Other
Comprehensive
Income (Loss)		Total Intuitive Surgical, Inc. Stockholders’ EquityNoncontrolling Interest in Joint VentureTotal Stockholders’ Equity
SharesAmount
Beginning balance
357.1 $0.4 $7,484.0 $4,682.8 $(144.2)$12,023.0 $59.4 $12,082.4 
Issuance of common stock through employee stock plans0.9 — 82.0 — — 82.0 — 82.0 
Shares withheld related to net share settlement of equity awards(0.1)— (0.4)(7.9)— (8.3)— (8.3)
Share-based compensation expense related to employee stock plans— — 138.1 — — 138.1 — 138.1 
Repurchase and retirement of common stock(4.6)— (18.9)(981.1)— (1,000.0)— (1,000.0)
Net income attributable to Intuitive Surgical, Inc.— — — 324.0 — 324.0 — 324.0 
Other comprehensive income (loss)
— — — — (43.4)(43.4)(1.5)(44.9)
Net income attributable to noncontrolling interest in joint venture— — — — — — 0.7 0.7 
Ending balance
353.3 $0.4 $7,684.8 $4,017.8 $(187.6)$11,515.4 $58.6 $11,574.0 
Nine Months Ended September 30, 2023
Common StockAdditional Paid-In CapitalRetained EarningsAccumulated Other Comprehensive Income (Loss)Total Intuitive Surgical, Inc. Stockholders’ EquityNoncontrolling Interest in Joint VentureTotal Stockholders’ Equity
SharesAmount
Beginning balance
350.0 $0.4 $7,703.9 $3,500.1 $(162.5)$11,041.9 $70.7 $11,112.6 
Issuance of common stock through employee stock plans4.1 — 252.2 — — 252.2 — 252.2 
Shares withheld related to net share settlement of equity awards(0.6)— (6.9)(148.5)— (155.4)— (155.4)
Share-based compensation expense related to employee stock plans— — 452.5 — — 452.5 — 452.5 
Repurchase and retirement of common stock(1.5)— (15.8)(334.2)— (350.0)— (350.0)
Net income attributable to Intuitive Surgical, Inc.— — — 1,191.8 — 1,191.8 — 1,191.8 
Other comprehensive income (loss)
— — — — 106.0 106.0 (1.0)105.0 
Net income attributable to noncontrolling interest in joint venture— — — — — — 14.8 14.8 
Ending balance
352.0 $0.4 $8,385.9 $4,209.2 $(56.5)$12,539.0 $84.5 $12,623.5 
Nine Months Ended September 30, 2022
Common StockAdditional Paid-In CapitalRetained EarningsAccumulated Other Comprehensive Income (Loss)Total Intuitive Surgical, Inc. Stockholders’ EquityNoncontrolling Interest in Joint VentureTotal Stockholders’ Equity
SharesAmount
Beginning balance
357.7 $0.4 $7,164.0 $4,760.9 $(24.2)$11,901.1 $50.4 $11,951.5 
Issuance of common stock through employee stock plans3.5 — 188.6 — — 188.6 — 188.6 
Shares withheld related to net share settlement of equity awards(0.7)— (7.1)(180.2)— (187.3)— (187.3)
Share-based compensation expense related to employee stock plans— — 385.6 — — 385.6 — 385.6 
Repurchase and retirement of common stock(7.2)— (46.3)(1,560.3)— (1,606.6)— (1,606.6)
Net income attributable to Intuitive Surgical, Inc.— — — 997.4 — 997.4 — 997.4 
Other comprehensive income (loss)
— — — — (163.4)(163.4)(2.1)(165.5)
Net income attributable to noncontrolling interest in joint venture— — — — — — 10.3 10.3 
Ending balance
353.3 $0.4 $7,684.8 $4,017.8 $(187.6)$11,515.4 $58.6 $11,574.0 
Stock Repurchase Program
The Company’s Board of Directors (the “Board”) has authorized an aggregate of $10.0 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 July 2022, when the Board increased the authorized amount available under the Repurchase Program to $3.5 billion, including amounts remaining under previous authorization. As of September 30, 2023, the remaining amount of share repurchases authorized by the Board under the Repurchase Program was approximately $1.1 billion.
The following table summarizes stock repurchase activities (in millions, except per share amounts):
 Three Months Ended September 30,Nine Months Ended September 30,
 2023202220232022
Shares repurchased— 4.6 1.5 7.2 
Average price per share$— $217.5 $238.1 $222.4 
Value of shares repurchased$— $1,000.0 $350.0 $1,606.6 
In August 2022, the Company entered into an accelerated share repurchase program (the “ASR Program”) with Goldman, Sachs & Co. (“Goldman”) to repurchase $1.0 billion of the Company’s common stock. In September 2022, the ASR Program was completed and, in total, 4.6 million shares were repurchased at an average price per share of $217.52. The total cost of the ASR Program was reflected as a reduction to equity in the Condensed Consolidated Balance Sheets.
As a provision of the Inflation Reduction Act enacted in the U.S. during 2022, the Company is subject to an excise tax on corporate stock repurchases, which is assessed as one percent of the fair market value of net stock repurchases after December 31, 2022. As of September 30, 2023, no excise tax was accrued, as the aggregate fair market value of the Company’s stock issuances exceeded the fair market value of stock repurchases.
Accumulated Other Comprehensive Loss, Net of Tax, Attributable to Intuitive Surgical, Inc.
The components of accumulated other comprehensive loss, net of tax, attributable to Intuitive Surgical, Inc. are as follows (in millions):
 Three Months Ended September 30, 2023
 Gains (Losses)
on Hedge
Instruments		Unrealized Gains
(Losses) on Available-for-Sale Securities		Foreign
Currency
Translation
Gains (Losses)		Employee Benefit PlansTotal
Beginning balance$5.6 $(103.5)$16.9 $1.2 $(79.8)
Other comprehensive income (loss) before reclassifications2.0 25.6 (6.6)— 21.0 
Amounts reclassified from accumulated other comprehensive income (loss)2.3 — — — 2.3 
Net current-period other comprehensive income (loss)4.3 25.6 (6.6)— 23.3 
Ending balance$9.9 $(77.9)$10.3 $1.2 $(56.5)
 Three Months Ended September 30, 2022
 Gains (Losses)
on Hedge
Instruments		Unrealized Gains
(Losses) on Available-for-Sale Securities		Foreign
Currency
Translation
Gains (Losses)		Employee Benefit PlansTotal
Beginning balance$9.9 $(140.1)$(9.3)$(4.7)$(144.2)
Other comprehensive income (loss) before reclassifications(5.7)(37.3)(8.5)— (51.5)
Amounts reclassified from accumulated other comprehensive income (loss)8.0 — — 0.1 8.1 
Net current-period other comprehensive income (loss)2.3 (37.3)(8.5)0.1 (43.4)
Ending balance$12.2 $(177.4)$(17.8)$(4.6)$(187.6)
Nine Months Ended September 30, 2023
Gains (Losses) on Hedge InstrumentsUnrealized Gains
(Losses) on Available-for-Sale Securities		Foreign Currency Translation Gains (Losses)Employee Benefit PlansTotal
Beginning balance$(2.9)$(154.2)$(6.6)$1.2 $(162.5)
Other comprehensive income (loss) before reclassifications12.6 76.5 16.9 — 106.0 
Amounts reclassified from accumulated other comprehensive income (loss)0.2 (0.2)— — — 
Net current-period other comprehensive income (loss)12.8 76.3 16.9 — 106.0 
Ending balance$9.9 $(77.9)$10.3 $1.2 $(56.5)
Nine Months Ended September 30, 2022
Gains (Losses) on Hedge InstrumentsUnrealized Gains
(Losses) on Available-for-Sale Securities		Foreign Currency Translation Gains (Losses)Employee Benefit PlansTotal
Beginning balance$4.5 $(16.0)$(7.9)$(4.8)$(24.2)
Other comprehensive income (loss) before reclassifications(11.0)(161.4)(9.9)— (182.3)
Amounts reclassified from accumulated other comprehensive income (loss)18.7 — — 0.2 18.9 
Net current-period other comprehensive income (loss)7.7 (161.4)(9.9)0.2 (163.4)
Ending balance$12.2 $(177.4)$(17.8)$(4.6)$(187.6)
The tax impacts for amounts recognized in other comprehensive income (loss) before reclassifications were as follows (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
Available-for-sale securities2023202220232022
Income tax benefit (expense) for net gains (losses) recorded in other comprehensive income (loss)
$(7.4)$10.8 $(22.0)$46.1 
The tax impacts for amounts recognized in other comprehensive income (loss) before reclassifications for hedge instruments, foreign currency translation, and employee benefit plans for the three and nine months ended September 30, 2023, and 2022, were not material to the Company’s Financial Statements. The tax impacts for amounts reclassified from accumulated other comprehensive loss relating to hedge instruments, available-for-sale securities, foreign currency translation, and employee benefit plans for the three and nine months ended September 30, 2023, and 2022, were not material to the Company’s Financial Statements.