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REVENUE AND CONTRACT ACQUISITION COSTS (Tables) | 3 Months Ended
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Mar. 31, 2025
Revenue from Contract with Customer [Abstract] |
Revenue Disaggregated by Types and Geography | The following table presents revenue disaggregated by geography and type (in millions):
|  |  | Three Months Ended March 31,
U.S. |  |  |  |  | 2025 |  | 2024
Instruments and accessories |  |  |  |  | $ | 963.8 |  |  | $ | 822.4 |
Systems |  |  |  |  | 335.9 |  |  | 212.5 |
Service |  |  |  |  | 238.5 |  |  | 203.6 |
Total U.S. revenue |  |  |  |  | $ | 1,538.2 |  |  | $ | 1,238.5 |
Outside of the U.S. (“OUS”) |  |  |  |  |  |  |
Instruments and accessories |  |  |  |  | $ | 403.9 |  |  | $ | 336.5 |
Systems |  |  |  |  | 186.8 |  |  | 205.7 |
Service |  |  |  |  | 124.5 |  |  | 109.9 |
Total OUS revenue |  |  |  |  | $ | 715.2 |  |  | $ | 652.1 |
Total |  |  |  |  |  |  |
Instruments and accessories |  |  |  |  | $ | 1,367.7 |  |  | $ | 1,158.9 |
Systems |  |  |  |  | 522.7 |  |  | 418.2 |
Service |  |  |  |  | 363.0 |  |  | 313.5 |
Total revenue |  |  |  |  | $ | 2,253.4 |  |  | $ | 1,890.6 |
Summary of Contract Assets and Liabilities | The following information summarizes the Company’s contract assets and liabilities (in millions):
| As of
| March 31, 2025 |  | December 31, 2024
Contract assets | $ | 19.9 |  |  | $ | 13.9 |
Deferred revenue | $ | 559.9 |  |  | $ | 522.9 |
Sales-type Lease Revenue | The following table presents product revenue from Intuitive System Leasing arrangements (in millions):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Sales-type lease revenue |  |  |  |  | $ | 26.5 |  |  | $ | 13.3 |
Operating lease revenue* |  |  |  |  | $ | 195.2 |  |  | $ | 148.0 |
*Variable lease revenue related to usage-based arrangements included within operating lease revenue |  |  |  |  | $ | 111.7 |  |  | $ | 70.0 |
Operating Lease Revenue | The following table presents product revenue from Intuitive System Leasing arrangements (in millions):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Sales-type lease revenue |  |  |  |  | $ | 26.5 |  |  | $ | 13.3 |
Operating lease revenue* |  |  |  |  | $ | 195.2 |  |  | $ | 148.0 |
*Variable lease revenue related to usage-based arrangements included within operating lease revenue |  |  |  |  | $ | 111.7 |  |  | $ | 70.0 |

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