GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Acquisitions

There were no material acquisitions in the six months ended June 30, 2025, and 2024.

Pending Acquisitions

On January 21, 2025, Intuitive announced that it has entered into a definitive agreement with the current Intuitive technology distributors ab medica, Abex, Excelencia Robotica, and their affiliates to acquire the da Vinci and Ion distribution businesses in Italy, Spain, Portugal, Malta, and San Marino, and associated territories. The transaction consists of an upfront cash payment of approximately EUR 290 million and up to an additional EUR 31 million in commercial milestone cash payments, subject to certain closing adjustments. The Company expects to complete the transaction in the first half of 2026, subject to applicable regulatory approvals and customary closing conditions.

Goodwill

The following table summarizes the changes in the carrying amount of goodwill (in millions):


	Amount
Balance as of December 31, 2024	$	347.5
Acquisition activity	—
Translation and other	1.2
Balance as of June 30, 2025	$	348.7

Intangible Assets

The following table summarizes the components of gross intangible assets, accumulated amortization, and net intangible assets balances (in millions):


	As of June 30, 2025						As of December 31, 2024
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Patents and developed technology	$	204.5	$	(189.8)	$	14.7	$	203.3	$	(185.4)	$	17.9
Customer relationships	29.2		(26.0)		3.2		27.3		(22.3)		5.0
Distribution rights and others	—		—		—		1.2		(1.1)		0.1
Total intangible assets	$	233.7	$	(215.8)	$	17.9	$	231.8	$	(208.8)	$	23.0

Amortization expense related to intangible assets was $3.2 million and $5.0 million for the three months ended June 30, 2025, and 2024, respectively. Amortization expense related to intangible assets was $6.6 million and $10.1 million for the six months ended June 30, 2025, and 2024, respectively.

The estimated future amortization expense related to intangible assets as of June 30, 2025, is as follows (in millions):


Fiscal Year	Amount
Remainder of 2025	$	6.6
2026	5.9
2027	3.0
2028	1.4
2029	0.6
2030 and thereafter	0.4
Total	$	17.9

The preceding expected amortization expense is an estimate. Actual amounts of amortization expense may differ from estimated amounts due to additional intangible asset acquisitions, measurement-period adjustments to intangible assets, changes in foreign currency exchange rates, impairments of intangible assets, accelerated amortization of intangible assets, and other events.