Intuitive Surgical Inc. (ISRG)
Adjustments to Financial Statements
Advanced level
Adjustments to Current Assets
Intuitive Surgical Inc., adjusted current assets
US$ in thousands
|
|
Dec 31, 2019 |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
|
As Reported |
|
|
Current assets |
4,662,600 | 4,333,200 | 2,810,900 | 3,250,400 | 2,195,500 |
|
Adjustments |
|
|
Add: Allowance for doubtful accounts and sales returns |
8,300 | 8,200 | 4,600 | 1,900 | 2,100 |
|
After Adjustment |
|
|
Adjusted current assets |
4,670,900 |
4,341,400 |
2,815,500 |
3,252,300 |
2,197,600 |
Based on:
10-K (filing date: 2020-02-07),
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).
Adjustments to Total Assets
Intuitive Surgical Inc., adjusted total assets
US$ in thousands
|
|
Dec 31, 2019 |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
|
As Reported |
|
|
Total assets |
9,733,200 | 7,846,700 | 5,758,000 | 6,486,900 | 4,907,300 |
|
Adjustments |
|
|
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 |
— | 95,400 | 41,600 | 36,700 | 31,200 |
|
|
Add: Allowance for doubtful accounts and sales returns |
8,300 | 8,200 | 4,600 | 1,900 | 2,100 |
|
|
Less: Deferred tax assets2 |
425,600 | 428,600 | 87,300 | 150,900 | 167,800 |
|
After Adjustment |
|
|
Adjusted total assets |
9,315,900 |
7,521,700 |
5,716,900 |
6,374,600 |
4,772,800 |
Based on:
10-K (filing date: 2020-02-07),
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).
Adjustments to Current Liabilities
Intuitive Surgical Inc., adjusted current liabilities
US$ in thousands
|
|
Dec 31, 2019 |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
|
As Reported |
|
|
Current liabilities |
1,030,200 | 820,600 | 704,100 | 596,500 | 491,900 |
|
Adjustments |
|
|
Less: Current deferred revenue |
337,800 | 294,300 | 284,500 | 240,600 | 225,600 |
|
After Adjustment |
|
|
Adjusted current liabilities |
692,400 |
526,300 |
419,600 |
355,900 |
266,300 |
Based on:
10-K (filing date: 2020-02-07),
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).
Adjustments to Total Liabilities
Intuitive Surgical Inc., adjusted total liabilities
US$ in thousands
|
|
Dec 31, 2019 |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
|
As Reported |
|
|
Total liabilities |
1,448,500 | 1,159,200 | 1,031,200 | 709,100 | 587,800 |
|
Adjustments |
|
|
Add: Operating lease liability (before adoption of FASB Topic 842)1 |
— | 95,400 | 41,600 | 36,700 | 31,200 |
|
|
Less: Deferred tax liabilities2 |
— | 3,400 | — | 800 | 900 |
|
|
Less: Deferred revenue |
365,200 | 327,300 | 284,500 | 240,600 | 225,600 |
|
After Adjustment |
|
|
Adjusted total liabilities |
1,083,300 |
923,900 |
788,300 |
504,400 |
392,500 |
Based on:
10-K (filing date: 2020-02-07),
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).
Adjustments to Stockholders’ Equity
Intuitive Surgical Inc., adjusted total Intuitive Surgical, Inc. stockholders’ equity
US$ in thousands
|
|
Dec 31, 2019 |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
|
As Reported |
|
|
Total Intuitive Surgical, Inc. stockholders’ equity |
8,263,800 | 6,678,800 | 4,725,200 | 5,777,800 | 4,319,500 |
|
Adjustments |
|
|
Less: Net deferred tax assets (liabilities)1 |
425,600 | 425,200 | 87,300 | 150,100 | 166,900 |
|
|
Add: Allowance for doubtful accounts and sales returns |
8,300 | 8,200 | 4,600 | 1,900 | 2,100 |
|
|
Add: Deferred revenue |
365,200 | 327,300 | 284,500 | 240,600 | 225,600 |
|
|
Add: Noncontrolling interest in joint venture |
20,900 | 8,700 | 1,600 | — | — |
|
After Adjustment |
|
|
Adjusted total stockholders’ equity |
8,232,600 |
6,597,800 |
4,928,600 |
5,870,200 |
4,380,300 |
Based on:
10-K (filing date: 2020-02-07),
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).
Adjustments to Capitalization Table
Intuitive Surgical Inc., adjusted capitalization table
US$ in thousands
|
|
Dec 31, 2019 |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
|
As Reported |
|
|
Total reported debt |
— | — | — | — | — |
|
|
Total Intuitive Surgical, Inc. stockholders’ equity |
8,263,800 | 6,678,800 | 4,725,200 | 5,777,800 | 4,319,500 |
|
|
Total reported capital |
8,263,800 |
6,678,800 |
4,725,200 |
5,777,800 |
4,319,500 |
|
Adjustments to Debt |
|
|
Add: Operating lease liability (before adoption of FASB Topic 842)1 |
— | 95,400 | 41,600 | 36,700 | 31,200 |
|
|
Add: Current operating lease liability (reported as Other accrued liabilities)2 |
7,700 | — | — | — | — |
|
|
Add: Long-term operating lease liability (reported as Other long-term liabilities)3 |
68,700 | — | — | — | — |
|
|
Adjusted total debt |
76,400 |
95,400 |
41,600 |
36,700 |
31,200 |
|
Adjustments to Equity |
|
|
Less: Net deferred tax assets (liabilities)4 |
425,600 | 425,200 | 87,300 | 150,100 | 166,900 |
|
|
Add: Allowance for doubtful accounts and sales returns |
8,300 | 8,200 | 4,600 | 1,900 | 2,100 |
|
|
Add: Deferred revenue |
365,200 | 327,300 | 284,500 | 240,600 | 225,600 |
|
|
Add: Noncontrolling interest in joint venture |
20,900 | 8,700 | 1,600 | — | — |
|
|
Adjusted total stockholders’ equity |
8,232,600 |
6,597,800 |
4,928,600 |
5,870,200 |
4,380,300 |
|
After Adjustment |
|
|
Adjusted total capital |
8,309,000 |
6,693,200 |
4,970,200 |
5,906,900 |
4,411,500 |
Based on:
10-K (filing date: 2020-02-07),
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).
1 Operating lease liability (before adoption of FASB Topic 842). See details »
2 Current operating lease liability (reported as Other accrued liabilities). See details »
3 Long-term operating lease liability (reported as Other long-term liabilities). See details »
4 Net deferred tax assets (liabilities). See details »
Adjustments to Revenues
Intuitive Surgical Inc., adjusted revenue
US$ in thousands
|
12 months ended |
Dec 31, 2019 |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
|
As Reported |
|
|
Revenue |
4,478,500 | 3,724,200 | 3,128,900 | 2,704,400 | 2,384,400 |
|
Adjustment |
|
|
Add: Increase (decrease) in deferred revenue |
37,900 | 58,700 | 43,900 | 15,000 | 9,000 |
|
After Adjustment |
|
|
Adjusted revenue |
4,516,400 |
3,782,900 |
3,172,800 |
2,719,400 |
2,393,400 |
Based on:
10-K (filing date: 2020-02-07),
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).
Adjustments to Reported Income
Intuitive Surgical Inc., adjusted net income attributable to Intuitive Surgical, Inc.
US$ in thousands
|
12 months ended |
Dec 31, 2019 |
Dec 31, 2018 |
Dec 31, 2017 |
Dec 31, 2016 |
Dec 31, 2015 |
|
As Reported |
|
|
Net income attributable to Intuitive Surgical, Inc. |
1,379,300 | 1,127,900 | 660,000 | 735,900 | 588,800 |
|
Adjustments |
|
|
Add: Deferred income tax expense (benefit)1 |
(6,100) | 34,000 | 62,700 | 19,100 | 5,000 |
|
|
Add: Increase (decrease) in allowance for doubtful accounts and sales returns |
100 | 3,600 | 2,700 | (200) | 1,800 |
|
|
Add: Increase (decrease) in deferred revenue |
37,900 | 58,700 | 43,900 | 15,000 | 9,000 |
|
|
Add: Other comprehensive gains (losses) |
25,700 | 2,200 | (6,600) | 600 | (4,400) |
|
After Adjustment |
|
|
Adjusted net income |
1,436,900 |
1,226,400 |
762,700 |
770,400 |
600,200 |
Based on:
10-K (filing date: 2020-02-07),
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).