Cash Flow Statement
Quarterly Data

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 (quarterly data)

US$ in thousands

3 months ended:	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income	547,400)	610,700)	419,800)	426,000)	360,800)	336,700)	324,700)	313,600)	369,400)	382,700)	387,200)	523,000)	435,200)	363,600)	316,800)	70,200)	316,200)	362,700)	398,700)	316,400)	304,000)
Depreciation and loss on disposal of property, plant, and equipment	104,200)	118,100)	103,500)	92,300)	87,700)	98,600)	81,900)	79,800)	77,700)	74,300)	75,700)	68,000)	64,800)	67,300)	56,600)	51,400)	51,100)	52,000)	40,200)	36,200)	31,600)
Amortization of intangible assets	5,100)	5,100)	5,100)	5,000)	5,000)	7,600)	7,900)	6,200)	6,100)	6,600)	6,300)	7,600)	6,900)	12,500)	12,600)	12,400)	12,300)	11,800)	10,700)	10,500)	10,000)
Gain on sale of business	—)	—)	—)	—)	—)	—)	—)	—)	(3,800)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
(Gain) loss on investments, accretion of discounts, and amortization of premiums on investments, net	(5,900)	(7,400)	300)	9,500)	4,900)	5,600)	9,600)	7,800)	26,000)	12,700)	2,200)	8,300)	(12,600)	9,100)	(61,800)	(2,600)	200)	600)	(5,000)	(400)	(1,200)
Deferred income taxes	(7,200)	(219,800)	(43,300)	(27,000)	9,300)	(83,300)	(61,900)	(25,700)	(14,400)	(22,000)	(16,600)	(68,700)	44,700)	(14,300)	19,400)	(12,000)	64,500)	300)	(61,000)	19,800)	32,900)
Share-based compensation expense	153,300)	150,400)	156,100)	146,500)	139,800)	127,600)	138,100)	126,700)	120,800)	117,800)	120,100)	108,100)	103,200)	103,100)	105,800)	95,900)	90,600)	89,200)	88,900)	81,600)	76,100)
Amortization of contract acquisition assets	8,500)	10,400)	7,700)	7,500)	7,400)	5,900)	7,100)	7,000)	6,600)	6,500)	5,500)	5,100)	4,900)	4,700)	4,200)	4,100)	4,100)	3,900)	3,300)	3,100)	2,800)
Accounts receivable	2,200)	(166,600)	(59,000)	22,400)	16,900)	(92,100)	(11,200)	67,400)	(123,400)	(87,600)	4,900)	(45,300)	(14,300)	(51,500)	(79,700)	18,700)	118,200)	(11,800)	1,700)	(85,700)	134,600)
Inventory	(179,600)	(184,300)	(239,600)	(161,500)	(127,100)	(127,500)	(173,600)	(125,400)	(120,100)	(66,800)	(96,800)	(51,200)	(41,200)	6,900)	(56,900)	(54,900)	(65,200)	(67,100)	(115,400)	(84,000)	(94,000)
Prepaids and other assets	(4,100)	(13,300)	51,300)	13,500)	(27,300)	(32,400)	(6,700)	(68,400)	(21,700)	11,800)	(39,700)	(103,800)	(73,200)	7,000)	(23,300)	36,400)	(131,900)	(21,800)	(5,900)	(26,500)	(62,700)
Accounts payable	(7,500)	14,000)	(8,800)	19,600)	16,900)	(5,000)	13,900)	14,300)	(1,900)	200)	(2,400)	14,500)	23,700)	(28,400)	(300)	(25,500)	21,900)	(12,400)	3,000)	(1,300)	23,000)
Accrued compensation and employee benefits	(271,200)	61,600)	28,200)	85,600)	(140,600)	93,400)	29,600)	58,800)	(130,300)	84,800)	11,300)	59,200)	(40,200)	59,800)	6,600)	12,200)	(95,200)	64,200)	26,500)	35,400)	(68,700)
Deferred revenue	(4,000)	54,400)	(13,200)	(12,000)	24,200)	42,700)	(18,100)	(14,500)	11,400)	30,300)	(8,300)	3,800)	6,800)	24,200)	(13,300)	3,300)	800)	29,700)	(2,900)	9,200)	(500)
Other liabilities	(75,800)	(205,000)	140,300)	38,300)	(6,500)	60,100)	41,900)	(900)	20,600)	16,400)	52,000)	14,100)	(31,100)	63,500)	(12,100)	20,300)	(34,800)	51,400)	13,500)	1,700)	(54,700)
Changes in operating assets and liabilities, net of effects of acquisitions	(540,000)	(439,200)	(100,800)	5,900)	(243,500)	(60,800)	(124,200)	(68,700)	(365,400)	(10,900)	(79,000)	(108,700)	(169,500)	81,500)	(179,000)	10,500)	(186,200)	32,200)	(79,500)	(151,200)	(123,000)
Adjustments to reconcile net income to net cash provided by operating activities	(282,000)	(382,400)	128,600)	239,700)	10,600)	101,200)	58,500)	133,100)	(146,400)	185,000)	114,200)	19,700)	42,400)	263,900)	(42,200)	159,700)	36,600)	190,000)	(2,400)	(400)	29,200)
Net cash provided by operating activities	265,400)	228,300)	548,400)	665,700)	371,400)	437,900)	383,200)	446,700)	223,000)	567,700)	501,400)	542,700)	477,600)	627,500)	274,600)	229,900)	352,800)	552,700)	396,300)	316,000)	333,200)
Purchase of investments	(905,900)	(1,387,200)	(806,200)	(10,500)	(3,500)	(5,900)	(17,400)	(188,900)	(1,187,300)	(1,238,300)	(1,706,000)	(1,674,600)	(1,833,100)	(1,269,700)	(1,596,400)	(736,800)	(690,000)	(802,800)	(727,500)	(823,600)	(992,300)
Proceeds from sales of investments	100,200)	182,600)	10,200)	11,200)	26,300)	1,500)	59,600)	—)	—)	12,500)	300)	100)	72,000)	—)	—)	702,500)	98,200)	25,200)	21,000)	16,700)	44,400)
Proceeds from maturities of investments	919,100)	597,700)	605,500)	742,500)	744,400)	718,100)	671,200)	797,400)	1,067,700)	735,700)	935,200)	1,365,500)	1,231,400)	997,300)	634,900)	681,000)	617,600)	541,300)	609,600)	663,800)	755,100)
Purchase of property, plant, and equipment	(241,900)	(435,500)	(256,300)	(178,300)	(194,100)	(137,700)	(169,100)	(132,000)	(93,600)	(150,900)	(68,300)	(75,700)	(58,600)	(61,900)	(64,400)	(110,000)	(105,200)	(142,000)	(86,700)	(82,100)	(114,800)
Acquisition of businesses, net of cash, and other investing activities	—)	(1,800)	200)	(7,300)	—)	(1,200)	200)	(10,300)	(1,500)	—)	—)	—)	(8,700)	—)	—)	—)	(37,700)	(27,900)	(33,000)	2,500)	(1,300)
Net cash (used in) provided by investing activities	(128,500)	(1,044,200)	(446,600)	557,600)	573,100)	574,800)	544,500)	466,200)	(214,700)	(641,000)	(838,800)	(384,700)	(597,000)	(334,300)	(1,025,900)	536,700)	(117,100)	(406,200)	(216,600)	(222,700)	(308,900)
Proceeds from issuance of common stock relating to employee stock plans	180,400)	44,100)	77,400)	74,600)	100,200)	45,200)	82,000)	26,600)	80,000)	31,700)	91,100)	69,700)	84,000)	40,900)	113,900)	62,700)	91,300)	67,100)	86,100)	30,800)	88,800)
Taxes paid related to net share settlement of equity awards	(226,600)	(9,300)	(14,800)	(10,900)	(129,700)	(6,900)	(8,300)	(6,800)	(172,200)	(10,400)	(13,300)	(9,600)	(178,300)	(9,900)	(10,200)	(6,200)	(148,900)	(6,200)	(7,900)	(6,400)	(138,600)
Repurchase of common stock	—)	(66,300)	—)	—)	(350,000)	(1,000,800)	(1,000,000)	(500,100)	(106,500)	—)	—)	—)	—)	(34,300)	—)	—)	(100,000)	—)	(69,500)	(200,000)	—)
Capital contribution from noncontrolling interest	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	10,000)
Payment of deferred purchase consideration	(500)	—)	(800)	(400)	(1,700)	(1,000)	(500)	(1,800)	(1,200)	(2,700)	(9,500)	(1,800)	(7,900)	(36,500)	(18,500)	(8,900)	(21,100)	(10,100)	(7,500)	(3,000)	(2,000)
Net cash provided by (used in) financing activities	(46,700)	(31,500)	61,800)	63,300)	(381,200)	(963,500)	(926,800)	(482,100)	(199,900)	18,600)	68,300)	58,300)	(102,200)	(39,800)	85,200)	47,600)	(178,700)	50,800)	1,200)	(178,600)	(41,800)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	6,800)	(5,400)	1,700)	5,200)	1,800)	(2,500)	1,900)	2,200)	3,800)	(1,100)	300)	(3,400)	800)	(600)	(400)	(800)	(800)	700)	(1,600)	(100)	(1,200)
Net increase (decrease) in cash, cash equivalents, and restricted cash	97,000)	(852,800)	165,300)	1,291,800)	565,100)	46,700)	2,800)	433,000)	(187,800)	(55,800)	(268,800)	212,900)	(220,800)	252,800)	(666,500)	813,400)	56,200)	198,000)	179,300)	(85,400)	(18,700)

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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 Q3 2023 to Q4 2023 but then slightly increased from Q4 2023 to Q1 2024.
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 decreased from Q3 2023 to Q4 2023 but then increased from Q4 2023 to Q1 2024 exceeding Q3 2023 level.
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 Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Intuitive Surgical Inc. (NASDAQ:ISRG)

Cash Flow StatementQuarterly Data

Cash Flow Statement
Quarterly Data