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REVENUE AND CONTRACT ACQUISITION COSTS (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, |  | Six Months Ended June 30,
U.S. | 2025 |  | 2024 |  | 2025 |  | 2024
Instruments and accessories | $ | 1,017.3 |  |  | $ | 891.4 |  |  | $ | 1,981.1 |  |  | $ | 1,713.8 |
Systems | 354.0 |  |  | 224.3 |  |  | 689.9 |  |  | 436.8 |
Service | 258.1 |  |  | 203.5 |  |  | 496.6 |  |  | 407.1 |
Total U.S. revenue | $ | 1,629.4 |  |  | $ | 1,319.2 |  |  | $ | 3,167.6 |  |  | $ | 2,557.7 |
Outside of the U.S. (“OUS”) |  |  |  |  |  |  |
Instruments and accessories | $ | 456.8 |  |  | $ | 353.0 |  |  | $ | 860.7 |  |  | $ | 689.5 |
Systems | 220.7 |  |  | 223.9 |  |  | 407.5 |  |  | 429.6 |
Service | 133.1 |  |  | 113.8 |  |  | 257.6 |  |  | 223.7 |
Total OUS revenue | $ | 810.6 |  |  | $ | 690.7 |  |  | $ | 1,525.8 |  |  | $ | 1,342.8 |
Total |  |  |  |  |  |  |
Instruments and accessories | $ | 1,474.1 |  |  | $ | 1,244.4 |  |  | $ | 2,841.8 |  |  | $ | 2,403.3 |
Systems | 574.7 |  |  | 448.2 |  |  | 1,097.4 |  |  | 866.4 |
Service | 391.2 |  |  | 317.3 |  |  | 754.2 |  |  | 630.8 |
Total revenue | $ | 2,440.0 |  |  | $ | 2,009.9 |  |  | $ | 4,693.4 |  |  | $ | 3,900.5 |
Summary of Contract Assets and Liabilities | The following information summarizes the Company’s contract assets and liabilities (in millions):
| As of
| June 30, 2025 |  | December 31, 2024
Contract assets | $ | 20.9 |  |  | $ | 13.9 |
Deferred revenue | $ | 571.7 |  |  | $ | 522.9 |
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,
| 2025 |  | 2024 |  | 2025 |  | 2024
Sales-type lease revenue | $ | 15.1 |  |  | $ | 45.1 |  |  | $ | 41.6 |  |  | $ | 58.4 |
Operating lease revenue* | $ | 213.8 |  |  | $ | 156.9 |  |  | $ | 409.0 |  |  | $ | 304.9 |
*Variable lease revenue related to usage-based arrangements included within operating lease revenue | $ | 130.0 |  |  | $ | 80.1 |  |  | $ | 241.7 |  |  | $ | 150.1 |
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,
| 2025 |  | 2024 |  | 2025 |  | 2024
Sales-type lease revenue | $ | 15.1 |  |  | $ | 45.1 |  |  | $ | 41.6 |  |  | $ | 58.4 |
Operating lease revenue* | $ | 213.8 |  |  | $ | 156.9 |  |  | $ | 409.0 |  |  | $ | 304.9 |
*Variable lease revenue related to usage-based arrangements included within operating lease revenue | $ | 130.0 |  |  | $ | 80.1 |  |  | $ | 241.7 |  |  | $ | 150.1 |

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