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REVENUE AND CONTRACT ACQUISITION COSTS (Tables) | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Revenue Disaggregated by Types and Geography | The following table presents revenue disaggregated by type and geography (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
U.S. | 2024 |  | 2023 |  | 2024 |  | 2023
Instruments and accessories | $ | 891.4 |  |  | $ | 763.3 |  |  | $ | 1,713.8 |  |  | $ | 1,464.7 |
Systems | 224.3 |  |  | 189.8 |  |  | 436.8 |  |  | 411.6 |
Services | 203.5 |  |  | 189.4 |  |  | 407.1 |  |  | 376.1 |
Total U.S. revenue | $ | 1,319.2 |  |  | $ | 1,142.5 |  |  | $ | 2,557.7 |  |  | $ | 2,252.4 |
OUS |  |  |  |  |  |  |
Instruments and accessories | $ | 353.0 |  |  | $ | 312.6 |  |  | $ | 689.5 |  |  | $ | 596.8 |
Systems | 223.9 |  |  | 202.9 |  |  | 429.6 |  |  | 408.5 |
Services | 113.8 |  |  | 97.9 |  |  | 223.7 |  |  | 194.4 |
Total OUS revenue | $ | 690.7 |  |  | $ | 613.4 |  |  | $ | 1,342.8 |  |  | $ | 1,199.7 |
Total |  |  |  |  |  |  |
Instruments and accessories | $ | 1,244.4 |  |  | $ | 1,075.9 |  |  | $ | 2,403.3 |  |  | $ | 2,061.5 |
Systems | 448.2 |  |  | 392.7 |  |  | 866.4 |  |  | 820.1 |
Services | 317.3 |  |  | 287.3 |  |  | 630.8 |  |  | 570.5 |
Total revenue | $ | 2,009.9 |  |  | $ | 1,755.9 |  |  | $ | 3,900.5 |  |  | $ | 3,452.1 |
Summary of Contract Assets and Liabilities | The following information summarizes the Company’s contract assets and liabilities (in millions):
| As of
| June 30, 2024 |  | December 31, 2023
Contract assets | $ | 16.7 |  |  | $ | 20.2 |
Deferred revenue | $ | 477.4 |  |  | $ | 491.7 |
Sales-type Lease Revenue | The following table presents product revenue from Intuitive System Leasing arrangements (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Sales-type lease revenue | $ | 45.1 |  |  | $ | 12.3 |  |  | $ | 58.4 |  |  | $ | 35.3 |
Operating lease revenue* | $ | 156.9 |  |  | $ | 122.7 |  |  | $ | 304.9 |  |  | $ | 234.7 |
*Variable lease revenue related to usage-based arrangements included within operating lease revenue | $ | 80.1 |  |  | $ | 53.2 |  |  | $ | 150.1 |  |  | $ | 99.2 |
Operating Lease Revenue | The following table presents product revenue from Intuitive System Leasing arrangements (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Sales-type lease revenue | $ | 45.1 |  |  | $ | 12.3 |  |  | $ | 58.4 |  |  | $ | 35.3 |
Operating lease revenue* | $ | 156.9 |  |  | $ | 122.7 |  |  | $ | 304.9 |  |  | $ | 234.7 |
*Variable lease revenue related to usage-based arrangements included within operating lease revenue | $ | 80.1 |  |  | $ | 53.2 |  |  | $ | 150.1 |  |  | $ | 99.2 |

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