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STOCKHOLDERS' EQUITY (Tables) | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Schedule of Stockholders Equity | The following tables present the changes in stockholders’ equity (in millions):
| Three Months Ended June 30, 2024
| 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 |  |  |  |  |  |
Beginning balance | 354.7 |  |  | $ | 0.4 |  |  | $ | 8,903.0 |  |  | $ | 5,067.9 |  |  | $ | (8.7) |  |  | $ | 13,962.6 |  |  | $ | 83.8 |  |  | $ | 14,046.4 |
Issuance of common stock through employee stock plans | 0.6 |  |  | — |  |  | 71.5 |  |  | — |  |  | — |  |  | 71.5 |  |  | — |  |  | 71.5 |
Shares withheld related to net share settlement of equity awards | — |  |  | — |  |  | (0.4) |  |  | (13.1) |  |  | — |  |  | (13.5) |  |  | — |  |  | (13.5) |
Share-based compensation expense related to employee stock plans | — |  |  | — |  |  | 175.6 |  |  | — |  |  | — |  |  | 175.6 |  |  | — |  |  | 175.6 |
Net income attributable to Intuitive Surgical, Inc. | — |  |  | — |  |  | — |  |  | 526.9 |  |  | — |  |  | 526.9 |  |  | — |  |  | 526.9 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | (14.8) |  |  | (14.8) |  |  | (0.2) |  |  | (15.0) |
Net income attributable to noncontrolling interest in joint venture | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4.6 |  |  | 4.6 |
Ending balance | 355.3 |  |  | $ | 0.4 |  |  | $ | 9,149.7 |  |  | $ | 5,581.7 |  |  | $ | (23.5) |  |  | $ | 14,708.3 |  |  | $ | 88.2 |  |  | $ | 14,796.5 |
| Three Months Ended June 30, 2023
| 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 |  |  |  |  |  |
Beginning balance | 350.4 |  |  | $ | 0.4 |  |  | $ | 7,928.4 |  |  | $ | 3,397.4 |  |  | $ | (108.5) |  |  | $ | 11,217.7 |  |  | $ | 76.5 |  |  | $ | 11,294.2 |
Issuance of common stock through employee stock plans | 1.0 |  |  | — |  |  | 74.6 |  |  | — |  |  | — |  |  | 74.6 |  |  | — |  |  | 74.6 |
Shares withheld related to net share settlement of equity awards | (0.1) |  |  | — |  |  | (0.4) |  |  | (10.5) |  |  | — |  |  | (10.9) |  |  | — |  |  | (10.9) |
Share-based compensation expense related to employee stock plans | — |  |  | — |  |  | 148.2 |  |  | — |  |  | — |  |  | 148.2 |  |  | — |  |  | 148.2 |
Net income attributable to Intuitive Surgical, Inc. | — |  |  | — |  |  | — |  |  | 420.8 |  |  | — |  |  | 420.8 |  |  | — |  |  | 420.8 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | 28.7 |  |  | 28.7 |  |  | (1.1) |  |  | 27.6 |
Net income attributable to noncontrolling interest in joint venture | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5.2 |  |  | 5.2 |
Ending balance | 351.3 |  |  | $ | 0.4 |  |  | $ | 8,150.8 |  |  | $ | 3,807.7 |  |  | $ | (79.8) |  |  | $ | 11,879.1 |  |  | $ | 80.6 |  |  | $ | 11,959.7 |
| Six Months Ended June 30, 2024
| 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 |  |  |  |  |  |
Beginning balance | 352.3 |  |  | $ | 0.4 |  |  | $ | 8,576.4 |  |  | $ | 4,743.0 |  |  | $ | (12.2) |  |  | $ | 13,307.6 |  |  | $ | 89.7 |  |  | $ | 13,397.3 |
Issuance of common stock through employee stock plans | 3.6 |  |  | — |  |  | 251.9 |  |  | — |  |  | — |  |  | 251.9 |  |  | — |  |  | 251.9 |
Shares withheld related to net share settlement of equity awards | (0.6) |  |  | — |  |  | (7.0) |  |  | (233.1) |  |  | — |  |  | (240.1) |  |  | — |  |  | (240.1) |
Share-based compensation expense related to employee stock plans | — |  |  | — |  |  | 328.4 |  |  | — |  |  | — |  |  | 328.4 |  |  | — |  |  | 328.4 |
Net income attributable to Intuitive Surgical, Inc. | — |  |  | — |  |  | — |  |  | 1,071.8 |  |  | — |  |  | 1,071.8 |  |  | — |  |  | 1,071.8 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | (11.3) |  |  | (11.3) |  |  | (0.6) |  |  | (11.9) |
Cash dividends declared and paid by joint venture | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (8.0) |  |  | (8.0) |
Net income attributable to noncontrolling interest in joint venture | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7.1 |  |  | 7.1 |
Ending balance | 355.3 |  |  | $ | 0.4 |  |  | $ | 9,149.7 |  |  | $ | 5,581.7 |  |  | $ | (23.5) |  |  | $ | 14,708.3 |  |  | $ | 88.2 |  |  | $ | 14,796.5 |
| Six Months Ended June 30, 2023
| 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 |  |  |  |  |  |
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 plans | 3.4 |  |  | — |  |  | 174.8 |  |  | — |  |  | — |  |  | 174.8 |  |  | — |  |  | 174.8 |
Shares withheld related to net share settlement of equity awards | (0.6) |  |  | — |  |  | (6.3) |  |  | (134.3) |  |  | — |  |  | (140.6) |  |  | — |  |  | (140.6) |
Share-based compensation expense related to employee stock plans | — |  |  | — |  |  | 294.2 |  |  | — |  |  | — |  |  | 294.2 |  |  | — |  |  | 294.2 |
Repurchase and retirement of common stock | (1.5) |  |  | — |  |  | (15.8) |  |  | (334.2) |  |  | — |  |  | (350.0) |  |  | — |  |  | (350.0) |
Net income attributable to Intuitive Surgical, Inc. | — |  |  | — |  |  | — |  |  | 776.1 |  |  | — |  |  | 776.1 |  |  | — |  |  | 776.1 |
Other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | 82.7 |  |  | 82.7 |  |  | (0.8) |  |  | 81.9 |
Net income attributable to noncontrolling interest in joint venture | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10.7 |  |  | 10.7 |
Ending balance | 351.3 |  |  | $ | 0.4 |  |  | $ | 8,150.8 |  |  | $ | 3,807.7 |  |  | $ | (79.8) |  |  | $ | 11,879.1 |  |  | $ | 80.6 |  |  | $ | 11,959.7 |
Schedule of Share Repurchase Activities | The following table summarizes stock repurchase activities (in millions, except per share amounts):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Shares repurchased | — |  |  | — |  |  | — |  |  | 1.5 |
Average price per share | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 238.1 |
Value of shares repurchased | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 350.0 |
Components of Accumulated Other Comprehensive Income, Net of Tax | The components of accumulated other comprehensive loss, net of tax, attributable to Intuitive Surgical, Inc. are as follows (in millions):
| Three Months Ended June 30, 2024
| Gains on Hedge Instruments |  | Unrealized Losses on Available-for-Sale Securities |  | Foreign Currency Translation Gains (Losses) |  | Employee Benefit Plans |  | Total
Beginning balance | $ | 3.1 |  |  | $ | (33.9) |  |  | $ | 21.6 |  |  | $ | 0.5 |  |  | $ | (8.7) |
Other comprehensive income (loss) before reclassifications | 1.1 |  |  | 5.4 |  |  | (25.1) |  |  | — |  |  | (18.6) |
Amounts reclassified from accumulated other comprehensive income | 3.7 |  |  | 0.1 |  |  | — |  |  | — |  |  | 3.8 |
Net current-period other comprehensive income (loss) | 4.8 |  |  | 5.5 |  |  | (25.1) |  |  | — |  |  | (14.8) |
Ending balance | $ | 7.9 |  |  | $ | (28.4) |  |  | $ | (3.5) |  |  | $ | 0.5 |  |  | $ | (23.5) |
| Three Months Ended June 30, 2023
| Gains (Losses) on Hedge Instruments |  | Unrealized Losses on Available-for-Sale Securities |  | Foreign Currency Translation Gains |  | Employee Benefit Plans |  | Total
Beginning balance | $ | (0.4) |  |  | $ | (116.6) |  |  | $ | 7.3 |  |  | $ | 1.2 |  |  | $ | (108.5) |
Other comprehensive income before reclassifications | 6.9 |  |  | 13.1 |  |  | 9.6 |  |  | — |  |  | 29.6 |
Amounts reclassified from accumulated other comprehensive income (loss) | (0.9) |  |  | — |  |  | — |  |  | — |  |  | (0.9) |
Net current-period other comprehensive income | 6.0 |  |  | 13.1 |  |  | 9.6 |  |  | — |  |  | 28.7 |
Ending balance | $ | 5.6 |  |  | $ | (103.5) |  |  | $ | 16.9 |  |  | $ | 1.2 |  |  | $ | (79.8) |
| Six Months Ended June 30, 2024
| Gains (Losses) on Hedge Instruments |  | Unrealized Losses on Available-for-Sale Securities |  | Foreign Currency Translation Gains (Losses) |  | Employee Benefit Plans |  | Total
Beginning balance | $ | (2.5) |  |  | $ | (29.7) |  |  | $ | 19.4 |  |  | $ | 0.6 |  |  | $ | (12.2) |
Other comprehensive income (loss) before reclassifications | 5.2 |  |  | 1.1 |  |  | (22.9) |  |  | — |  |  | (16.6) |
Amounts reclassified from accumulated other comprehensive income (loss) | 5.2 |  |  | 0.2 |  |  | — |  |  | (0.1) |  |  | 5.3 |
Net current-period other comprehensive income (loss) | 10.4 |  |  | 1.3 |  |  | (22.9) |  |  | (0.1) |  |  | (11.3) |
Ending balance | $ | 7.9 |  |  | $ | (28.4) |  |  | $ | (3.5) |  |  | $ | 0.5 |  |  | $ | (23.5) |
| Six Months Ended June 30, 2023
| Gains (Losses) on Hedge Instruments |  | Unrealized Losses on Available-for-Sale Securities |  | Foreign Currency Translation Gains (Losses) |  | Employee Benefit Plans |  | Total
Beginning balance | $ | (2.9) |  |  | $ | (154.2) |  |  | $ | (6.6) |  |  | $ | 1.2 |  |  | $ | (162.5) |
Other comprehensive income before reclassifications | 10.6 |  |  | 50.9 |  |  | 23.5 |  |  | — |  |  | 85.0 |
Amounts reclassified from accumulated other comprehensive income (loss) | (2.1) |  |  | (0.2) |  |  | — |  |  | — |  |  | (2.3) |
Net current-period other comprehensive income | 8.5 |  |  | 50.7 |  |  | 23.5 |  |  | — |  |  | 82.7 |
Ending balance | $ | 5.6 |  |  | $ | (103.5) |  |  | $ | 16.9 |  |  | $ | 1.2 |  |  | $ | (79.8) |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | The tax impacts for amounts recognized in other comprehensive income (loss) before reclassifications were as follows (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
Available-for-sale securities | 2024 |  | 2023 |  | 2024 |  | 2023
Income tax benefit (expense) for net gains (losses) recorded in other comprehensive income (loss) | $ | (1.6) |  |  | $ | (3.7) |  |  | $ | (0.3) |  |  | $ | (14.6) |

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