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REVENUE AND CONTRACT ACQUISITION COSTS (Tables) | 9 Months Ended
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Sep. 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 September 30, |  | Nine Months Ended September 30,
U.S. | 2024 |  | 2023 |  | 2024 |  | 2023
Instruments and accessories | $ | 904.8 |  |  | $ | 775.7 |  |  | $ | 2,618.6 |  |  | $ | 2,240.4 |
Systems | 265.4 |  |  | 216.0 |  |  | 702.2 |  |  | 627.6 |
Service | 209.2 |  |  | 188.5 |  |  | 616.3 |  |  | 564.6 |
Total U.S. revenue | $ | 1,379.4 |  |  | $ | 1,180.2 |  |  | $ | 3,937.1 |  |  | $ | 3,432.6 |
Outside of the U.S. (“OUS”) |  |  |  |  |  |  |
Instruments and accessories | $ | 359.4 |  |  | $ | 295.7 |  |  | $ | 1,048.9 |  |  | $ | 892.5 |
Systems | 179.6 |  |  | 163.4 |  |  | 609.2 |  |  | 571.9 |
Service | 119.7 |  |  | 104.4 |  |  | 343.4 |  |  | 298.8 |
Total OUS revenue | $ | 658.7 |  |  | $ | 563.5 |  |  | $ | 2,001.5 |  |  | $ | 1,763.2 |
Total |  |  |  |  |  |  |
Instruments and accessories | $ | 1,264.2 |  |  | $ | 1,071.4 |  |  | $ | 3,667.5 |  |  | $ | 3,132.9 |
Systems | 445.0 |  |  | 379.4 |  |  | 1,311.4 |  |  | 1,199.5 |
Service | 328.9 |  |  | 292.9 |  |  | 959.7 |  |  | 863.4 |
Total revenue | $ | 2,038.1 |  |  | $ | 1,743.7 |  |  | $ | 5,938.6 |  |  | $ | 5,195.8 |
Summary of Contract Assets and Liabilities | The following information summarizes the Company’s contract assets and liabilities (in millions):
| As of
| September 30, 2024 |  | December 31, 2023
Contract assets | $ | 17.7 |  |  | $ | 20.2 |
Deferred revenue | $ | 485.6 |  |  | $ | 491.7 |
Sales-type Lease Revenue | The following table presents product revenue from Intuitive System Leasing arrangements (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Sales-type lease revenue | $ | 30.2 |  |  | $ | 19.2 |  |  | $ | 88.6 |  |  | $ | 54.5 |
Operating lease revenue* | $ | 167.8 |  |  | $ | 127.1 |  |  | $ | 472.7 |  |  | $ | 361.8 |
*Variable lease revenue related to usage-based arrangements included within operating lease revenue | $ | 87.0 |  |  | $ | 54.2 |  |  | $ | 237.1 |  |  | $ | 153.4 |
Operating Lease Revenue | The following table presents product revenue from Intuitive System Leasing arrangements (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Sales-type lease revenue | $ | 30.2 |  |  | $ | 19.2 |  |  | $ | 88.6 |  |  | $ | 54.5 |
Operating lease revenue* | $ | 167.8 |  |  | $ | 127.1 |  |  | $ | 472.7 |  |  | $ | 361.8 |
*Variable lease revenue related to usage-based arrangements included within operating lease revenue | $ | 87.0 |  |  | $ | 54.2 |  |  | $ | 237.1 |  |  | $ | 153.4 |

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