Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Intuitive Surgical Inc., consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Product	5,956,300)	5,198,000)	4,793,900)	3,634,600)	3,754,300)
Service	1,167,800)	1,024,200)	916,200)	723,800)	724,200)
Revenue	7,124,100)	6,222,200)	5,710,100)	4,358,400)	4,478,500)
Product	(2,041,800)	(1,700,300)	(1,464,100)	(1,230,300)	(1,119,100)
Service	(352,800)	(325,900)	(287,500)	(266,900)	(249,200)
Cost of revenue	(2,394,600)	(2,026,200)	(1,751,600)	(1,497,200)	(1,368,300)
Gross profit	4,729,500)	4,196,000)	3,958,500)	2,861,200)	3,110,200)
Selling, general and administrative	(1,963,900)	(1,739,900)	(1,466,500)	(1,216,300)	(1,178,400)
Research and development	(998,800)	(879,000)	(671,000)	(595,100)	(557,300)
Operating expenses	(2,962,700)	(2,618,900)	(2,137,500)	(1,811,400)	(1,735,700)
Income from operations	1,766,800)	1,577,100)	1,821,000)	1,049,800)	1,374,500)
Interest and other income, net	192,100)	29,700)	69,300)	157,200)	127,700)
Income before taxes	1,958,900)	1,606,800)	1,890,300)	1,207,000)	1,502,200)
Income tax expense	(141,600)	(262,400)	(162,200)	(140,200)	(120,400)
Net income	1,817,300)	1,344,400)	1,728,100)	1,066,800)	1,381,800)
Net income attributable to noncontrolling interest in joint venture	(19,300)	(22,100)	(23,500)	(6,200)	(2,500)
Net income attributable to Intuitive Surgical, Inc.	1,798,000)	1,322,300)	1,704,600)	1,060,600)	1,379,300)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Income statement item	Description	The company
Revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Intuitive Surgical Inc. revenue increased from 2021 to 2022 and from 2022 to 2023.
Income from operations	The net result for the period of deducting operating expenses from operating revenues.	Intuitive Surgical Inc. income from operations decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.
Income before taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Intuitive Surgical Inc. income before taxes decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Net income attributable to Intuitive Surgical, Inc.	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Intuitive Surgical Inc. net income attributable to Intuitive Surgical, Inc. decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Intuitive Surgical Inc. (NASDAQ:ISRG)

Income Statement