Stock Analysis on Net

Intuitive Surgical Inc. (NASDAQ:ISRG)

Cash Flow Statement 

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Intuitive Surgical Inc., consolidated cash flow statement

US$ in thousands

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net income 1,817,300 1,344,400 1,728,100 1,066,800 1,381,800
Depreciation and loss on disposal of property, plant, and equipment, net 401,600 338,000 282,800 226,400 160,000
Amortization of intangible assets 20,200 27,800 27,400 49,800 43,000
Gain on sale of business (3,800)
(Gain) loss on investments, accretion of discounts, and amortization of premiums on investments, net 7,300 49,000 10,600 (55,100) (6,000)
Deferred income taxes (280,800) (185,300) (62,600) 57,600 (8,000)
Share-based compensation expense 592,800 513,200 449,200 395,400 335,800
Amortization of contract acquisition assets 33,000 26,600 22,000 17,100 13,100
Accounts receivable (186,300) (159,300) (142,300) 5,700 38,800
Inventory (712,500) (546,600) (256,000) (170,100) (360,500)
Prepaids and other assets 24,200 (129,200) (204,900) (111,800) (116,900)
Accounts payable 41,700 21,300 36,000 (32,300) 12,300
Accrued compensation and employee benefits 34,800 51,500 115,100 (16,600) 57,400
Deferred revenue 53,400 21,500 32,600 15,000 35,500
Other liabilities (32,900) 121,700 51,400 36,900 11,900
Changes in operating assets and liabilities, net of effects of acquisitions (777,600) (619,100) (368,100) (273,200) (321,500)
Adjustments to reconcile net income to net cash provided by operating activities (3,500) 146,400 361,300 418,000 216,400
Net cash provided by operating activities 1,813,800 1,490,800 2,089,400 1,484,800 1,598,200
Purchase of investments (2,207,400) (1,399,500) (6,452,000) (4,292,900) (3,346,200)
Proceeds from sales of investments 230,300 61,100 84,900 800,700 107,300
Proceeds from maturities of investments 2,690,100 3,254,400 4,267,800 2,930,800 2,569,800
Purchase of property, plant, and equipment (1,064,200) (532,400) (339,500) (341,500) (425,600)
Acquisition of businesses, net of cash, and intellectual property and other investing activities (8,900) (12,800) (22,700) (37,700) (59,700)
Net cash (used in) provided by investing activities (360,100) 1,370,800 (2,461,500) (940,600) (1,154,400)
Proceeds from issuance of common stock relating to employee stock plans 296,300 233,800 276,500 308,800 272,800
Taxes paid related to net share settlement of equity awards (164,700) (194,200) (211,600) (175,200) (159,100)
Repurchase of common stock (416,300) (2,607,400) (134,300) (269,500)
Capital contribution from noncontrolling interest 10,000
Payment of deferred purchase consideration (2,900) (4,500) (21,900) (85,000) (22,600)
Net cash provided by (used in) financing activities (287,600) (2,572,300) 43,000 (85,700) (168,400)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 3,300 5,400 (3,400) (2,600) (2,200)
Net increase (decrease) in cash, cash equivalents, and restricted cash 1,169,400 294,700 (332,500) 455,900 273,200
Cash, cash equivalents, and restricted cash, beginning of year 1,600,700 1,306,000 1,638,500 1,182,600 909,400
Cash, cash equivalents, and restricted cash, end of year 2,770,100 1,600,700 1,306,000 1,638,500 1,182,600

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).

Cash flow statement item Description The company
Net cash provided by operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Intuitive Surgical Inc. net cash provided by operating activities decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.
Net cash (used in) provided by investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Intuitive Surgical Inc. net cash (used in) provided by investing activities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Net cash provided by (used in) financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Intuitive Surgical Inc. net cash provided by (used in) financing activities decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.