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Intuitive Surgical Inc. (ISRG)
Analysis of Inventory
Difficulty: Advanced
Inventory Accounting Policy
Inventory is stated at the lower of standard cost, which approximates actual costs, or net realizable value, on a first-in, first-out basis. Inventory costs include direct materials, direct labor, and normal manufacturing overhead. The cost basis of Intuitive Surgical’s inventory is reduced for any products that are considered excessive or obsolete based upon assumptions about future demand and market conditions.
Source: 10-K (filing date: 2019-02-04).
Inventory Disclosure
Intuitive Surgical Inc., Statement of Financial Position, Inventory
USD $ in thousands
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |||||||
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Based on: 10-K (filing date: 2019-02-04), 10-K (filing date: 2018-02-02), 10-K (filing date: 2017-02-06), 10-K (filing date: 2016-02-02), 10-K (filing date: 2015-02-06).
| Item | Description | The company |
|---|---|---|
| Inventory | Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. | Intuitive Surgical Inc.’s inventory increased from 2016 to 2017 and from 2017 to 2018. |