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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2015	Apr. 17, 2015
Document Document And Entity Information [Abstract]
Entity Registrant Name	INTUITIVE SURGICAL INC
Trading Symbol	ISRG
Entity Central Index Key	0001035267
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		36,858,015

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 701.1	$ 600.3
Short-term investments	661.1	632.2
Accounts receivable, net	292.4	315.1
Inventories	202.4	181.7
Prepaids and other current assets	73.9	82.6
Deferred tax assets	28.4	35.1
Total current assets	1,959.3	1,847.0
Property, plant and equipment, net	404.7	387.4
Long-term investments	1,304.8	1,264.5
Long-term deferred tax assets	139.1	136.2
Intangible and other assets, net	120.3	126.3
Goodwill	198.0	198.0
Total assets	4,126.2	3,959.4
Current liabilities:
Accounts payable	67.9	61.6
Accrued compensation and employee benefits	69.1	96.2
Deferred revenue	212.0	216.6
Other accrued liabilities	107.9	126.8
Total current liabilities	456.9	501.2
Other long-term liabilities	83.9	78.8
Total liabilities	540.8	580.0
Contingencies (Note 6)
Stockholders’ equity:
Preferred stock, 2.5 shares authorized, $0.001 par value, issuable in series; no shares issued and outstanding as of March 31, 2015, and December 31, 2014	0.0	0.0
Common stock, 100.0 shares authorized, $0.001 par value, 36.8 shares and 36.6 shares issued and outstanding as of March 31, 2015, and December 31, 2014, respectively	0.0	0.0
Additional paid-in capital	3,024.3	2,896.8
Retained earnings	562.3	487.7
Accumulated other comprehensive loss	(1.2)	(5.1)
Total stockholders’ equity	3,585.4	3,379.4
Total liabilities and stockholders’ equity	$ 4,126.2	$ 3,959.4

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock, shares authorized (in shares)	2,500,000.0	2,500,000.0
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	100,000,000.0	100,000,000.0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares outstanding (in shares)	36,800,000	36,600,000

Condensed Consolidated Statements of Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenue:
Product	$ 418.2	$ 360.8
Service	113.9	103.9
Total revenue	532.1	464.7
Cost of revenue:
Product	153.5	113.8
Service	41.8	35.5
Total cost of revenue	195.3	149.3
Gross profit	336.8	315.4
Operating expenses:
Selling, general and administrative	162.0	215.8
Research and development	44.4	43.0
Total operating expenses	206.4	258.8
Income from operations	130.4	56.6
Interest and other income, net	4.3	3.9
Income before taxes	134.7	60.5
Income tax expense	37.7	16.2
Net income	$ 97.0	$ 44.3
Net income per share:
Basic (in dollars per share)	$ 2.64	$ 1.16
Diluted (in dollars per share)	$ 2.57	$ 1.13
Shares used in computing net income per share:
Basic (in shares)	36.7	38.3
Diluted (in shares)	37.7	39.1
Total comprehensive income	$ 100.9	$ 46.0

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Operating activities:
Net income	$ 97.0	$ 44.3
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	14.0	12.3
Amortization of intangible assets	6.2	4.7
Loss on investments, accretion of discounts, and amortization of premiums on investments, net	5.4	8.1
Deferred income taxes	2.1	(33.2)
Income tax benefits from employee stock plans	8.2	2.1
Excess tax benefit from employee stock plans	(10.2)	(4.3)
Share-based compensation expense	41.1	40.8
Changes in operating assets and liabilities, net of effects of acquisition:
Accounts receivable	22.7	62.4
Inventories	(27.9)	(20.4)
Prepaids and other assets	9.2	(25.1)
Accounts payable	2.7	10.3
Accrued compensation and employee benefits	(26.6)	(18.0)
Deferred Revenue	(4.5)	25.7
Other liabilities	(15.7)	56.6
Net cash provided by operating activities	123.7	166.3
Investing activities:
Purchase of investments	(282.5)	(433.2)
Proceeds from sales of investments	74.5	53.3
Proceeds from maturities of investments	139.5	195.2
Purchase of property, plant and equipment and acquired intellectual property	(19.2)	(8.1)
Acquisition of business, net of cash acquired	0.0	12.5
Net cash used in investing activities	(87.7)	(205.3)
Financing activities:
Proceeds from issuance of common stock	80.2	66.3
Excess tax benefit from employee stock plans	10.2	4.3
Taxes paid related to net share settlement of equity awards	(9.7)	0.0
Repurchase and retirement of common stock	(14.7)	0.0
Net cash provided by financing activities	66.0	70.6
Effect of exchange rate changes on cash and cash equivalents	(1.2)	0.3
Net increase (decrease) in cash and cash equivalents	100.8	31.9
Cash and cash equivalents, beginning of period	600.3	782.1
Cash and cash equivalents, end of period	$ 701.1	$ 814.0

DESCRIPTION OF BUSINESS	3 Months Ended
DESCRIPTION OF BUSINESS	Mar. 31, 2015
Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS	DESCRIPTION OF THE BUSINESS Intuitive Surgical, Inc. designs, manufactures, and markets da Vinci^® Surgical Systems and related instruments and accessories, which taken together, are advanced surgical systems that the Company believes enable a new generation of surgery. This advanced generation of surgery, which the Company calls da Vinci Surgery, combines the benefits of minimally invasive surgery (“MIS”) for patients with the ease of use, precision, and dexterity of open surgery. A da Vinci Surgical System consists of a surgeon’s console, a patient-side cart, and a high performance vision system. The da Vinci Surgical System translates a surgeon’s natural hand movements, which are performed on instrument controls at a console, into corresponding micro-movements of instruments positioned inside the patient through small incisions, or ports. The da Vinci Surgical System is designed to provide its operating surgeons with intuitive control, range of motion, fine tissue manipulation capability, and Three Dimensional (“3-D”) High-Definition (“HD”) vision while simultaneously allowing surgeons to work through the small ports enabled by MIS procedures.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements (“financial statements”) of Intuitive Surgical, Inc. and its wholly-owned subsidiaries have been prepared on a consistent basis with the audited Consolidated Financial Statements for the fiscal year ended December 31, 2014, and include all adjustments, consisting of only normal recurring adjustments, necessary to fairly state the information set forth herein. The financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”), and, therefore, omit certain information and footnote disclosure necessary to present the financial statements in accordance with accounting principles generally accepted in the United States (“U.S.”) (“U.S. GAAP”). These financial statements should be read in conjunction with the audited Consolidated Financial Statements and Notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014, which was filed with the SEC on February 5, 2015. The results of operations for the first three months of fiscal 2015 are not necessarily indicative of the results to be expected for the entire fiscal year or any future periods. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Updates No. 2014-09, Revenue from Contracts with Customers. The updated standard will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. Early adoption is not permitted under the original updated standard. The updated standard becomes effective for the Company in the first quarter of fiscal year 2017. In April 2015, the FASB proposed a deferral of the effective date of the updated standard by one year, but to permit entities to adopt one year earlier if they choose. The proposed effective date deferral is not currently approved. The Company has not yet selected a transition method and is currently evaluating the effect that the updated standard will have on its Consolidated Financial Statements and related disclosures, and is therefore unable to determine the impact on the Company's financial statements. Significant Accounting Policies There have been no new or material changes to the significant accounting policies discussed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2014 that are of significance, or potential significance to the Company.

FINANCIAL INSTRUMENTS

3 Months Ended

Mar. 31, 2015

Investments, All Other Investments [Abstract]

FINANCIAL INSTRUMENTS

Cash, Cash Equivalents and Investments

The following tables summarize the Company’s cash and available-for-sale securities’ amortized cost, gross unrealized gains, gross unrealized losses, and fair value by significant investment category recorded as cash and cash equivalents or short-term or long-term investments as of March 31, 2015, and December 31, 2014 (in millions):



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash and Cash Equivalents		Short- term Investments		Long- term Investments
March 31, 2015
Cash	$	280.0	$	—	$	—		$	280.0	$	280.0	$	—	$	—
Level 1:
Money market funds	385.0		—		—			385.0		385.0		—		—
U.S. treasuries & corporate equity securities	117.6		1.3		—			118.9		—		82.8		36.1
Subtotal	502.6		1.3		—			503.9		385.0		82.8		36.1
Level 2:
Commercial paper	95.8		—		—			95.8		29.6		66.2		—
Corporate securities	852.9		3.5		(0.2		)	856.2		—		222.2		634.0
U.S. government agencies	462.6		0.9		—			463.5		6.5		114.2		342.8
Non-U.S. government securities	41.3		—		—			41.3		—		25.2		16.1
Municipal securities	425.8		0.7		(0.2		)	426.3		—		150.5		275.8
Subtotal	1,878.4		5.1		(0.4		)	1,883.1		36.1		578.3		1,268.7
Total assets measured at fair value	$	2,661.0	$	6.4	$	(0.4	)	$	2,667.0	$	701.1	$	661.1	$	1,304.8



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash and Cash Equivalents		Short- term Investments		Long- term Investments
December 31, 2014
Cash	$	227.7	$	—	$	—		$	227.7	$	227.7	$	—	$	—
Level 1:
Money market funds	324.4		—		—			324.4		324.4		—		—
U.S. treasuries & corporate equity securities	46.1		—		(0.1		)	46.0		—		19.3		26.7
Subtotal	370.5		—		(0.1		)	370.4		324.4		19.3		26.7
Level 2:
Commercial paper	120.5		—		—			120.5		48.2		72.3		—
Corporate securities	904.8		1.3		(1.6		)	904.5		—		241.7		662.8
U.S. government agencies	446.0		0.3		(0.4		)	445.9		—		105.6		340.3
Non-U.S. government securities	42.2		—		(0.1		)	42.1		—		26.1		16.0
Municipal securities	385.4		0.7		(0.2		)	385.9		—		167.2		218.7
Subtotal	1,898.9		2.3		(2.3		)	1,898.9		48.2		612.9		1,237.8
Total assets measured at fair value	$	2,497.1	$	2.3	$	(2.4	)	$	2,497.0	$	600.3	$	632.2	$	1,264.5

The following table summarizes the contractual maturities of the Company’s cash equivalents and available-for-sale investments (excluding cash and money market funds), as of March 31, 2015 (in millions):



	Amortized Cost		Fair Value
Mature in less than one year	$	692.9	$	693.5
Mature in one to five years	1,300.8		1,304.8
Total	$	1,993.7	$	1,998.3

Realized gains and losses recognized on the sale of investments were not material for any of the periods presented.

As of March 31, 2015, and December 31, 2014, net unrealized gains of $4.2 million, net of tax, and net realized loss of $0.2 million, net of tax, respectively, were included in accumulated other comprehensive loss in the accompanying Condensed Consolidated Balance Sheets.

There were no transfers between Level 1 and Level 2 measurements during the three months ended March 31, 2015, and there were no changes in the valuation techniques used by the Company.

Foreign Currency Derivatives

The objective of the Company’s hedging program is to mitigate the impact of changes in currency exchange rates on net cash flow from foreign currency denominated sales and intercompany balances and other monetary assets or liabilities denominated in currencies other than the U.S. dollar ("USD"). The derivative assets and liabilities are measured using Level 2 fair value inputs.

Cash Flow Hedges

The Company enters into currency forward contracts as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than USD, primarily the European Euro ("EUR"), the British Pound (“GBP”), the Japanese Yen (“JPY”), and the Korean Won (“KRW”).

For these derivatives, the Company reports the after-tax gain or loss from the hedge as a component of accumulated other comprehensive loss in stockholders' equity and reclassifies it into earnings in the same period in which the hedged transaction affects earnings. The gains (losses) reclassified to revenue related to the hedged revenue transactions were not material for the three months ended March 31, 2015, and 2014.

Other Derivatives Not Designated as Hedging Instruments

Other derivatives not designated as hedging instruments consist primarily of forward contracts that the Company uses to hedge intercompany balances and other monetary assets or liabilities denominated in currencies other than the USD, primarily the EUR, GBP, JPY, KRW, and the Swiss Franc (“CHF”). The net gains (losses) recognized in interest and other income, net in the condensed consolidated statements of comprehensive income for the three months ended March 31, 2015, and 2014, were not material.

The notional amounts for derivative instruments provide one measure of the transaction volume. Total gross notional amounts (in USD) for outstanding derivatives and aggregate gross fair value at the end of each period were as follows (in millions):



	Derivatives Designated as Hedging Instruments				Derivatives Not Designated as Hedging Instruments
	March 31, 2015		December 31, 2014		March 31, 2015		December 31, 2014
Notional amounts:
Forward contracts	$	35.6	$	7.9	$	88.7	$	102.1
Gross fair value recorded in:
Prepaid and other current assets	$	1.7	$	1.1	$	4.3	$	7.9
Other accrued liabilities	$	—	$	—	$	—	$	0.1

BALANCE SHEET DETAILS AND OTHER FINANCIAL INFORMATION

3 Months Ended

Mar. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BALANCE SHEET DETAILS AND OTHER FINANCIAL INFORMATION

Inventories

The following table provides further details of inventories (in millions):



	March 31, 2015		December 31, 2014
Raw materials	$	61.9	$	60.0
Work-in-process	9.1		8.7
Finished goods	131.4		113.0
Total inventories	$	202.4	$	181.7

Supplemental Cash Flow Information

The following table provides supplemental cash flow information (in millions):



	Three Months Ended March 31,
	2015		2014
Supplemental non-cash investing activities:
Equipment transfers from inventories to property, plant and equipment	$	7.2	$	14.5

LEASE RECEIVABLES

3 Months Ended

Mar. 31, 2015

Leases [Abstract]

LEASE RECEIVABLES

Lease receivables relating to sales-type lease arrangements are presented on the Condensed Consolidated Balance Sheets as follows (in millions):



	March 31, 2015			December 31, 2014
Gross lease receivables	$	42.1		$	40.4
Unearned income	(2.2		)	(2.2		)
Allowance for credit loss	—			—
Net investment in sales-type leases	39.9			38.2
Reported as:
Prepaids and other current assets	8.1			5.8
Intangible and other assets, net	31.8			32.4
Total, net	$	39.9		$	38.2

Contractual maturities of gross lease receivables at March 31, 2015, are as follows (in millions):



	Amount
2015	$	6.3
2016	11.1
2017	11.0
2018	9.9
2019	3.7
Thereafter	0.1
Total	$	42.1

- Definition

The entire disclosure for lessor entity's leasing arrangements for operating, capital and leveraged leases.

+ References + Details

CONTINGENCIES	3 Months Ended
CONTINGENCIES	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES The Company is involved in a variety of claims, lawsuits, investigations and proceedings relating to securities laws, product liability, insurance, and contract disputes. Certain of these lawsuits and claims are described in further detail below. It is not possible to predict what the outcome of these matters will be and the Company cannot guarantee that any resolution will be reached on commercially reasonable terms, if at all. With the exception of the charges recorded related to the Company’s estimate of the probable loss associated with the tolled product liability claims described below, the Company has determined that an estimate of probable loss or range of loss related to material pending or threatened litigation matters cannot be determined as of March 31, 2015. Nevertheless, it is possible that future legal costs (including settlements, judgments, legal fees and other related defense costs) could have a material adverse effect on the Company's business, financial position, or future results of operations. The Company is also a party to various other legal actions that arise in the ordinary course of business and does not believe that any of these other legal actions will have a material adverse impact on the Company's business, financial position, or future results of operations. In accordance with U.S. GAAP, the Company records a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed at least quarterly and adjusted to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular case. Purported Shareholder Class Action Lawsuits Filed April 26, 2013, and May 24, 2013 On April 26, 2013, a purported class action lawsuit entitled Abrams v. Intuitive Surgical, et al., No. 5-13-cv-1920, was filed against several of the Company's current and former officers and directors in the United States District Court for the Northern District of California. A substantially identical complaint, entitled Adel v. Intuitive Surgical, et al., No. 5:13-cv-02365, was filed in the same court against the same defendants on May 24, 2013. The Adel case was voluntarily dismissed without prejudice on August 20, 2013. The matter is now at an end. On October 15, 2013, plaintiffs in the Abrams matter filed an amended complaint. The case has since been re-titled In re Intuitive Surgical Securities Litigation, No. 5:13-cv-1920. The plaintiffs seek unspecified damages on behalf of a putative class of persons who purchased or otherwise acquired the Company's common stock between February 6, 2012, and July 18, 2013. The amended complaint alleges that the defendants violated federal securities laws by making allegedly false and misleading statements and omitting certain material facts in certain public statements and in the Company's filings with the SEC. On November 18, 2013, the Court appointed Employees’ Retirement System of the State of Hawaii as lead plaintiff and appointed lead counsel. The Company filed a motion to dismiss the amended complaint on December 16, 2013, which was granted in part and denied in part on August 21, 2014. The plaintiffs have elected not to further amend their complaint. On October 22, 2014, the court granted the Company’s motion for leave to file a motion for reconsideration of the court’s August 21, 2014, order. The Company filed its motion for reconsideration on November 5, 2014, the plaintiffs filed their opposition on November 19, 2014, and the Company filed its reply on November 26, 2014. The court denied the motion for reconsideration on December 15, 2014. The case will move forward on the claims that remain. No trial date has been set. Based on currently available information, the Company does not believe the resolution of this matter will have a material adverse effect on the Company's business, financial position or future results of operations. Purported Derivative Actions Filed on February 3, 2014, February 21, 2014, March 21, 2014, June 3, 2014, and March 5, 2015 On February 3, 2014, an alleged stockholder caused a purported stockholder’s derivative lawsuit entitled Berg v. Guthart et al., No. 4:14-CV-00515, to be filed in the United States District Court for the Northern District of California. It names the Company as a nominal defendant and names 16 of the Company’s current and former officers and directors as defendants. The lawsuit seeks to recover, for the Company’s benefit, unspecified damages purportedly sustained by the Company in connection with allegedly misleading statements and/or omissions made in connection with the Company’s financial reporting for the period between 2012 and early 2014. It also seeks a series of changes to the Company’s corporate governance policies and an award of attorneys’ fees. On April 3, 2014, it was related to In re Intuitive Surgical Securities Litigation. On July 30, 2014, the court granted Robert Berg’s motion to be appointed lead plaintiff, denied the City of Birmingham’s motion seeking such appointment (see below for additional description), and re-titled the matter In re Intuitive Surgical, Inc. Shareholder Derivative Litigation, No. 4:14-CV-00515. On August 13, 2014, Berg filed a consolidated complaint, making allegations substantially similar to the allegations in his original complaint. On September 12, 2014, the Company filed a motion to dismiss the consolidated complaint. Berg filed his opposition on October 9, 2014, and the Company filed its reply on October 30, 2014. The motion remains pending. Based on currently available information, the Company does not believe the resolution of this matter will have a material adverse effect on the Company's business, financial position or future results of operations. On February 21, 2014, a second alleged stockholder caused a substantially similar purported stockholder’s derivative lawsuit entitled Public School Teachers’ Pension and Retirement Fund of Chicago v. Guthart et al., No. CIV 526930, to be filed in the Superior Court of the State of California, County of San Mateo, against the same parties and seeking the same relief. On March 26, 2014, the case was removed to the United States District Court for the Northern District of California, where it was related to In re Intuitive Surgical Securities Litigation and Berg v. Guthart on April 30, 2014. The district court remanded the case back to San Mateo County Superior Court on June 30, 2014, where it remains pending. On August 28, 2014, the Company filed a motion seeking to stay the case in favor of the federal action and asking that the plaintiff be required to post a bond because the action was duplicative and was not in the Company’s best interests. On November 13, 2014, the superior court entered an order denying the Company’s bond request and denying in part the Company’s motion to stay. On November 18, 2014, the Company petitioned the First Appellate District of the California Court of Appeal for a writ of mandate directing the superior court to stay the case in its entirety. At the same time, the Company requested an immediate stay of proceedings pending resolution of the petition. On November 19, 2014, the Court of Appeal granted the Company’s request for an immediate stay and set a briefing schedule for the petition. The plaintiff filed its opposition to the petition on December 8, 2014, and the Company filed its reply on December 22, 2014. The petition was denied on January 8, 2015. On January 20, 2015, the Company demurred (moved to dismiss) the complaint. The plaintiff filed its opposition to the demurrer on February 10, 2015, and the Company filed its reply on February 20, 2015. A hearing was held on February 27, 2015, and the court overruled the demurrer on March 27, 2015. The court's order was entered on April 2, 2015, and the case will move forward. Trial is currently set for October 5, 2015. Based on currently available information, the Company does not believe the resolution of this matter will have a material adverse effect on the Company's business, financial position, or future results of operations. On March 21, 2014, a third alleged stockholder caused a substantially similar purported stockholder’s derivative lawsuit entitled City of Birmingham Relief and Retirement System v. Guthart et al., No. 5-14-CV-01307, to be filed in the United States District Court for the Northern District of California against the same parties and seeking the same relief. On April 8, 2014, it was related to In re Intuitive Surgical Securities Litigation and Berg v. Guthart. On July 30, 2014, the court consolidated the case with Berg v. Guthart and, as noted above, granted Berg’s motion to be appointed lead plaintiff and denied the City of Birmingham’s motion seeking such appointment. This effectively ends the City of Birmingham’s involvement in this matter. Based on currently available information, the Company does not believe the resolution of this matter will have a material adverse effect on the Company's business, financial position, or future results of operations. On June 3, 2014, a fourth alleged stockholder caused a substantially similar purported stockholder’s derivative lawsuit entitled City of Plantation Police Officers’ Employees’ Retirement System v. Guthart et al., C.A. No. 9726-CB, to be filed in the Court of Chancery of the State of Delaware. The Company filed a Motion to Stay Proceedings in favor of the earlier-filed stockholder derivative lawsuits pending in federal and state courts in California. In light of the Company’s motion, the plaintiff agreed to a stay of all proceedings in the case in favor of the earlier-filed actions. Based on currently available information, the Company does not believe the resolution of this matter will have a material adverse effect on the Company's business, financial position, or future results of operations. On March 5, 2015, a fifth alleged stockholder caused a substantially similar purported stockholder’s derivative lawsuit entitled Back v. Guthart et al., No. 3:15-CV-01037, to be filed in the United States District Court for the Northern District of California. The complaint has not yet been served and thus the Company has yet to respond. Based on currently available information, the Company does not believe the resolution of this matter will have a material adverse effect on the Company's business, financial position, or future results of operations. Product Liability Litigation The Company is currently named as a defendant in approximately 104 individual product liability lawsuits filed in various state and federal courts by plaintiffs who allege that they or a family member underwent surgical procedures that utilized the da Vinci Surgical System and sustained a variety of personal injuries and, in some cases, death as a result of such surgery. The Company has also received a large number of product liability claims from plaintiffs' attorneys that are part of certain tolling agreements further discussed below. The Company has also been named as a defendant in a multi-plaintiff lawsuit filed in Missouri state court. On November 26, 2014, plaintiffs amended their complaint to add three additional plaintiffs. In total, plaintiffs seek damages on behalf of 19 patients who had da Vinci Surgeries in 12 different states. The cases raise a variety of allegations including, to varying degrees, that plaintiffs’ injuries resulted from purported defects in the da Vinci Surgical System and/or failure on the Company's part to provide adequate training resources to the healthcare professionals who performed plaintiffs’ surgeries. The cases further allege that the Company failed to adequately disclose and/or misrepresented the potential risks and/or benefits of the da Vinci Surgical System. Plaintiffs also assert a variety of causes of action, including for example, strict liability based on purported design defects, negligence, fraud, breach of express and implied warranties, unjust enrichment, and loss of consortium. Plaintiffs seek recovery for alleged personal injuries and, in many cases, punitive damages. The Company has reached confidential settlements in many of the filed cases. With certain exceptions, including the Taylor case described below, the remaining filed cases generally are in the early stages of pretrial activity. Plaintiffs’ attorneys have engaged in well-funded national advertising efforts seeking patients dissatisfied with da Vinci Surgery. Among the allegations, a substantial number of claims relate to alleged complications from surgeries performed with certain versions of Monopolar Curved Scissor (“MCS”) instruments that included an MCS tip cover accessory that was the subject of a market withdrawal in 2012 and MCS instruments that were the subject of a recall in 2013. The Company has received a significant number of claims from plaintiffs’ attorneys that it believes are as a result of these advertising efforts. In an effort to avoid the expense and distraction of defending multiple lawsuits, the Company entered into tolling agreements to pause the applicable statutes of limitations for these claims and engaged in confidential mediation efforts. After an extended confidential mediation process with legal counsel for many of the claimants covered by the tolling agreements, the Company determined during the first quarter of 2014 that, while it denies any and all liability, in light of the costs and risks of litigation, settlement of certain claims may be appropriate. During the year ended December 31, 2014, the Company recorded pre-tax charges of $82.4 million to reflect the estimated cost of settling a number of the product liability claims covered by the tolling agreements. During the first quarter of 2015 and 2014, the Company recorded pre-tax charges of $7.2 million and $67.4 million, respectively, related to these product liability claims. The Company’s estimate of the anticipated cost of resolving these claims is based on negotiations with attorneys for claimants who have participated in the mediation process. Nonetheless, it is possible that more claims will be made by additional individuals and that the claimants who participate in the mediations, as well as those claimants who have not participated in mediations, will choose to pursue greater amounts in a court of law. Consequently, the final outcome of these claims is dependent on many variables that are difficult to predict and the ultimate cost associated with these product liability claims may be materially different than the amount of the current estimate and accruals and could have a material adverse effect on the Company's business, financial position, and future results of operations. Although there is a reasonable possibility that a loss in excess of the amount recognized exists, the Company is unable to estimate the possible loss or range of loss in excess of the amount recognized at this time. As of March 31, 2015 and December 31, 2014, a total of $39.7 million and $49.5 million, respectively, were included in other accrued liabilities in the accompanying Condensed Consolidated Balance Sheets related to the tolled product liability claims. In February 2011, the Company was named as a defendant in a product liability action that had originally been filed in Washington State Superior Court for Kitsap County against the healthcare providers and hospital involved in plaintiff’s decedent’s surgery (Josette Taylor, as Personal Representative of the Estate of Fred E. Taylor, deceased; and on behalf of the Estate of Fred E. Taylor v. Intuitive Surgical, Inc., No. 09-2-03136-5). In Taylor, plaintiff asserted wrongful death and product liability claims against the Company, generally alleging that the decedent died four years after surgery as a result of injuries purportedly suffered during the surgery, which was conducted with the use of the da Vinci Surgical System. The plaintiff in Taylor asserted that such injuries were caused, in whole or in part, by the Company's purported failure to properly train, warn, and instruct the surgeon. The lawsuit sought unspecified damages for past medical expenses, pain and suffering, loss of consortium as well as punitive damages. A trial commenced in the action on April 15, 2013. On May 23, 2013, the jury returned a defense verdict, finding that the Company was not negligent. Judgment was entered in the Company's favor on June 7, 2013. Plaintiff has filed a notice of appeal. Insurance Litigation In October 2013, the Company was named as a defendant in an insurance action entitled Illinois Union Insurance Co. v. Intuitive Surgical, Inc., No. 3:13-cv-04863-JST, filed in the Northern District of California. Plaintiff Illinois Union Insurance Co. seeks to rescind the Life Sciences Products-Completed Operations Liability Policy issued by plaintiff to the Company, which provides coverage for products liability claims first made against the Company during the policy period March 1, 2013 to March 1, 2014. In December 2013, the Company was named as a defendant in another insurance action entitled Navigators Specialty Insurance Co. v. Intuitive Surgical, Inc., No. 5:13-cv-05801-HRL, filed in the Northern District of California. Plaintiff Navigators Insurance Co. alleges that the Follow Form Excess Liability Insurance Policy issued by plaintiff to the Company for product liability claims first made against the Company during the policy period March 1, 2013 to March 1, 2014, should be rescinded. These cases have been consolidated under docket number 3:13-cf-04863. Both plaintiffs generally allege that the Company did not disclose the existence of tolling agreements, the number of claimants incorporated within those agreements, and that those agreements were material to plaintiffs’ underwriting processes. The Company intends to vigorously defend these actions. Based on currently available information, the Company does not believe the resolution of this matter will have a material adverse effect on the Company's business, financial position or future results of operations. Additionally, on March 3, 2015, the Company filed a Cross-Complaint for Breach of Contract and Declaratory Judgment against Ironshore Specialty Insurance Co. based on Ironshore’s failure to indemnify the Company for insured losses incurred in the defense and settlement of certain products liability claims brought against Intuitive involving the da Vinci Surgical System. On April 14, 2015, Ironshore filed an answer and counterclaim denying the allegations of the Company's cross-complaint and asserting counterclaims against Intuitive for declaratory judgment and breach of contract.

STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2015

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Stock Repurchase Program

On January 29, 2015, the Company's Board of Directors (the "Board") authorized the Company to repurchase up to $1.0 billion of the Company’s outstanding common stock. The Company repurchased approximately 30,000 shares of the Company's common stock during the three months ended March 31, 2015, for $14.7 million at an average price per share of $495.45. As of March 31, 2015, the remaining amount of share repurchases authorized by the Board was approximately $985.3 million.

Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss), net of tax, for the three months ended March 31, 2015, and 2014, are as follows (in millions):



	Three Months Ended March 31, 2015
	Gains (Losses) on Hedge Instruments			Unrealized Gains (Losses) on Available-for-Sale Securities			Foreign Currency Translation Gains (Losses)			Employee Benefit Plans			Total
Beginning balance	$	1.1		$	(0.2	)	$	(2.1	)	$	(3.9	)	$	(5.1	)
Other comprehensive income before reclassifications	4.3			4.9			(1.7		)	0.4			7.9
Amounts reclassified from accumulated other comprehensive income	(3.6		)	(0.5		)	—			0.1			(4.0		)
Net current-period other comprehensive income	0.7			4.4			(1.7		)	0.5			3.9
Ending balance	$	1.8		$	4.2		$	(3.8	)	$	(3.4	)	$	(1.2	)

	Three Months Ended March 31, 2014
	Gains (Losses) on Hedge Instruments			Unrealized Gains (Losses) on Available-for-Sale Securities			Foreign Currency Translation Gains (Losses)			Employee Benefit Plans			Total
Beginning balance	$	—		$	1.7		$	0.4		$	—		$	2.1
Other comprehensive income before reclassifications	0.5			3.9			0.3			(2.6		)	2.1
Amounts reclassified from accumulated other comprehensive income	(0.3		)	(0.1		)	—			—			(0.4		)
Net current-period other comprehensive income	0.2			3.8			0.3			(2.6		)	1.7
Ending balance	$	0.2		$	5.5		$	0.7		$	(2.6	)	$	3.8

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 505
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-Paragraph 4
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 210
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-Paragraph 1
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6521494

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-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

SHARE-BASED COMPENSATION

3 Months Ended

Mar. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

SHARE-BASED COMPENSATION

As of March 31, 2015, approximately 0.5 million shares were reserved for future issuance under the Company’s stock plans. A maximum of 0.2 million of these shares can be awarded as restricted stock units (“RSUs”).

Stock Option Information

A summary of stock option activity under all stock plans for the three months ended March 31, 2015, is presented as follows (in millions, except per share amounts):



	Stock Options Outstanding
	Number Outstanding		Weighted Average Exercise Price Per Share
Balance at December 31, 2014	5.0		$	395.85
Options granted	0.2		513.90
Options exercised	(0.2	)	305.59
Options forfeited/expired	(0.1	)	502.58
Balance at March 31, 2015	4.9		$	403.30

As of March 31, 2015, options to purchase an aggregate of 3.4 million shares of common stock were exercisable at a weighted-average price of $371.07 per share.

Restricted Stock Units Information

A summary of RSU activity for the three months ended March 31, 2015, is presented as follows (in millions, except per share amounts):



	Shares	Weighted Average Grant Date Fair Value
Unvested balance at December 31, 2014	0.2	$	441.07
Granted	0.2	513.97
Vested	0.0	443.39
Canceled	0.0	473.13
Unvested balance at March 31, 2015	0.4	$	482.47

During the three months ended March 31, 2015, approximately 47,000 RSUs were vested and approximately 5,000 RSUs were canceled.

Employee Stock Purchase Plan

Under the Employee Stock Purchase Plan (“ESPP”), employees purchased approximately 0.1 million shares for $17.8 million and 0.1 million shares for $17.5 million during the three months ended March 31, 2015, and 2014, respectively.

Share-based Compensation Expense

The following table summarizes share-based compensation expense for the three months ended March 31, 2015, and 2014 (in millions):



	Three Months Ended March 31,
	2015		2014
Cost of sales - products	$	5.3	$	4.4
Cost of sales - services	3.5		3.1
Total cost of sales	8.8		7.5
Selling, general and administrative	23.1		24.1
Research and development	9.3		9.2
Share-based compensation expense before income taxes	41.2		40.8
Income tax benefit	13.5		13.0
Share-based compensation expense after income taxes	$	27.7	$	27.8

The Black-Scholes option pricing model is used to estimate the fair value of stock options granted under the Company’s share-based compensation plans and rights to acquire stock granted under the Company’s employee stock purchase plan. The weighted average estimated fair values of stock options, the rights to acquire stock granted, and the weighted average assumptions used in calculating those fair values were as follows:



	Three Months Ended March 31,
	2015			2014
Stock Option Plans
Risk free interest rate	1.6		%	1.5		%
Expected term (in years)	4.5			4.5
Expected volatility	28		%	31		%
Weighted average fair value at grant date	$	135.61		$	123.45
Employee Stock Purchase Plans
Risk free interest rate	0.3		%	0.2		%
Expected term (in years)	1.2			1.3
Expected volatility	33		%	33		%
Weighted average fair value at grant date	$	145.52		$	128.87

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income tax expense for the three months ended March 31, 2015, was $37.7 million, or 28.0% of income before taxes, compared with $16.2 million, or 26.8% of income before taxes for the three months ended March 31, 2014. The Company’s effective tax rates for both periods differ from the U.S. federal statutory rate of 35% due primarily to the effect of income earned by certain of the Company’s overseas entities being taxed at rates lower than the federal statutory rate, partially offset by state income taxes. The Company intends to indefinitely reinvest outside the U.S. all of its undistributed foreign earnings that were not previously subject to U.S. tax. The Company’s effective tax rate for the three months ended March 31, 2015, did not include the tax benefit from the U.S. federal Research and Development (“R&D”) credit because the credit expired at the end of 2014. If the credit is reinstated retroactively, the tax benefit will be recorded as a discrete item in the period of reinstatement. The income tax provision for the three months ended March 31, 2014, also did not reflect federal R&D credit, because the 2014 credit was not retroactively reinstated until December 2014, and the credit for the full year was reflected in fourth quarter of 2014. As of March 31, 2015, the Company had total gross unrecognized tax benefits of approximately $80.0 million compared with approximately $75.5 million as of December 31, 2014, representing a net increase of approximately $4.5 million for the three months ended March 31, 2015. If recognized, these gross unrecognized tax benefits would reduce the effective tax rate in the period of recognition. Gross interest and penalties related to unrecognized tax benefit accrued were approximately $3.1 million and $2.5 million as of March 31, 2015, and December 31, 2014, respectively. The Company files federal, state, and foreign income tax returns in many jurisdictions in the U.S. and abroad. Generally, years before 2012 are closed for most significant jurisdictions except for California, for which years before 2008 are considered closed. Certain of the Company’s unrecognized tax benefits could reverse based on the normal expiration of various statutes of limitations, which could affect the Company’s effective tax rate in the period in which they reverse. The Company is subject to the examination of its income tax returns by the Internal Revenue Service (the "IRS") and other tax authorities. The outcome of these audits cannot be predicted with certainty. Management regularly assesses the likelihood of adverse outcomes resulting from these examinations to determine the adequacy of the Company’s provision for income taxes. If any issues addressed in the tax audits are resolved in a manner not consistent with management’s expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs.

NET INCOME PER SHARE

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

NET INCOME PER SHARE

The following table presents the computation of basic and diluted net income per share for the three months ended March 31, 2015, and 2014 (in millions, except per share amounts):



	Three Months Ended March 31,
	2015		2014
Numerator:
Net income	$	97.0	$	44.3
Denominator:
Weighted-average shares outstanding used in basic calculation	36.7		38.3
Add: dilutive effect of potential common shares	1.0		0.8
Weighted-average shares used in computing diluted net income per share	37.7		39.1
Net income per share:
Basic	$	2.64	$	1.16
Diluted	$	2.57	$	1.13

Share-based compensation awards of approximately 1.9 million and 2.9 million weighted-average shares were outstanding, but were not included in the computation of diluted net income per share for the three months ended March 31, 2015, and 2014, respectively, because the effect of including such shares would have been anti-dilutive.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements (“financial statements”) of Intuitive Surgical, Inc. and its wholly-owned subsidiaries have been prepared on a consistent basis with the audited Consolidated Financial Statements for the fiscal year ended December 31, 2014, and include all adjustments, consisting of only normal recurring adjustments, necessary to fairly state the information set forth herein. The financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”), and, therefore, omit certain information and footnote disclosure necessary to present the financial statements in accordance with accounting principles generally accepted in the United States (“U.S.”) (“U.S. GAAP”). These financial statements should be read in conjunction with the audited Consolidated Financial Statements and Notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014, which was filed with the SEC on February 5, 2015. The results of operations for the first three months of fiscal 2015 are not necessarily indicative of the results to be expected for the entire fiscal year or any future periods.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Updates No. 2014-09, Revenue from Contracts with Customers. The updated standard will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. Early adoption is not permitted under the original updated standard. The updated standard becomes effective for the Company in the first quarter of fiscal year 2017. In April 2015, the FASB proposed a deferral of the effective date of the updated standard by one year, but to permit entities to adopt one year earlier if they choose. The proposed effective date deferral is not currently approved. The Company has not yet selected a transition method and is currently evaluating the effect that the updated standard will have on its Consolidated Financial Statements and related disclosures, and is therefore unable to determine the impact on the Company's financial statements.

FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2015

Investments, All Other Investments [Abstract]

Summary of Cash and Available-For-Sale Securities



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash and Cash Equivalents		Short- term Investments		Long- term Investments
March 31, 2015
Cash	$	280.0	$	—	$	—		$	280.0	$	280.0	$	—	$	—
Level 1:
Money market funds	385.0		—		—			385.0		385.0		—		—
U.S. treasuries & corporate equity securities	117.6		1.3		—			118.9		—		82.8		36.1
Subtotal	502.6		1.3		—			503.9		385.0		82.8		36.1
Level 2:
Commercial paper	95.8		—		—			95.8		29.6		66.2		—
Corporate securities	852.9		3.5		(0.2		)	856.2		—		222.2		634.0
U.S. government agencies	462.6		0.9		—			463.5		6.5		114.2		342.8
Non-U.S. government securities	41.3		—		—			41.3		—		25.2		16.1
Municipal securities	425.8		0.7		(0.2		)	426.3		—		150.5		275.8
Subtotal	1,878.4		5.1		(0.4		)	1,883.1		36.1		578.3		1,268.7
Total assets measured at fair value	$	2,661.0	$	6.4	$	(0.4	)	$	2,667.0	$	701.1	$	661.1	$	1,304.8



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash and Cash Equivalents		Short- term Investments		Long- term Investments
December 31, 2014
Cash	$	227.7	$	—	$	—		$	227.7	$	227.7	$	—	$	—
Level 1:
Money market funds	324.4		—		—			324.4		324.4		—		—
U.S. treasuries & corporate equity securities	46.1		—		(0.1		)	46.0		—		19.3		26.7
Subtotal	370.5		—		(0.1		)	370.4		324.4		19.3		26.7
Level 2:
Commercial paper	120.5		—		—			120.5		48.2		72.3		—
Corporate securities	904.8		1.3		(1.6		)	904.5		—		241.7		662.8
U.S. government agencies	446.0		0.3		(0.4		)	445.9		—		105.6		340.3
Non-U.S. government securities	42.2		—		(0.1		)	42.1		—		26.1		16.0
Municipal securities	385.4		0.7		(0.2		)	385.9		—		167.2		218.7
Subtotal	1,898.9		2.3		(2.3		)	1,898.9		48.2		612.9		1,237.8
Total assets measured at fair value	$	2,497.1	$	2.3	$	(2.4	)	$	2,497.0	$	600.3	$	632.2	$	1,264.5

Summary of Contractual Maturities of Cash Equivalents and Available-For-Sale Investments



	Amortized Cost		Fair Value
Mature in less than one year	$	692.9	$	693.5
Mature in one to five years	1,300.8		1,304.8
Total	$	1,993.7	$	1,998.3

Gross Notional Amounts and Aggregate Fair Value Outstanding for Derivatives



	Derivatives Designated as Hedging Instruments				Derivatives Not Designated as Hedging Instruments
	March 31, 2015		December 31, 2014		March 31, 2015		December 31, 2014
Notional amounts:
Forward contracts	$	35.6	$	7.9	$	88.7	$	102.1
Gross fair value recorded in:
Prepaid and other current assets	$	1.7	$	1.1	$	4.3	$	7.9
Other accrued liabilities	$	—	$	—	$	—	$	0.1

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579240-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41620-113959

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

BALANCE SHEET DETAILS AND OTHER FINANCIAL INFORMATION (Tables)

3 Months Ended

Mar. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Inventory Details

The following table provides further details of inventories (in millions):



	March 31, 2015		December 31, 2014
Raw materials	$	61.9	$	60.0
Work-in-process	9.1		8.7
Finished goods	131.4		113.0
Total inventories	$	202.4	$	181.7

Supplemental Cash Flow Information

The following table provides supplemental cash flow information (in millions):



	Three Months Ended March 31,
	2015		2014
Supplemental non-cash investing activities:
Equipment transfers from inventories to property, plant and equipment	$	7.2	$	14.5

LEASE RECEIVABLES (Tables)

3 Months Ended

Mar. 31, 2015

Leases [Abstract]

Lease Receivables Relating to Sales-Type Lease Arrangements

Lease receivables relating to sales-type lease arrangements are presented on the Condensed Consolidated Balance Sheets as follows (in millions):



	March 31, 2015			December 31, 2014
Gross lease receivables	$	42.1		$	40.4
Unearned income	(2.2		)	(2.2		)
Allowance for credit loss	—			—
Net investment in sales-type leases	39.9			38.2
Reported as:
Prepaids and other current assets	8.1			5.8
Intangible and other assets, net	31.8			32.4
Total, net	$	39.9		$	38.2

Contractual Maturities of Gross Lease Receivables

Contractual maturities of gross lease receivables at March 31, 2015, are as follows (in millions):



	Amount
2015	$	6.3
2016	11.1
2017	11.0
2018	9.9
2019	3.7
Thereafter	0.1
Total	$	42.1

STOCKHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2015

Equity [Abstract]

Components of Accumulated Other Comprehensive Income, Net of Tax

The components of accumulated other comprehensive income (loss), net of tax, for the three months ended March 31, 2015, and 2014, are as follows (in millions):



	Three Months Ended March 31, 2015
	Gains (Losses) on Hedge Instruments			Unrealized Gains (Losses) on Available-for-Sale Securities			Foreign Currency Translation Gains (Losses)			Employee Benefit Plans			Total
Beginning balance	$	1.1		$	(0.2	)	$	(2.1	)	$	(3.9	)	$	(5.1	)
Other comprehensive income before reclassifications	4.3			4.9			(1.7		)	0.4			7.9
Amounts reclassified from accumulated other comprehensive income	(3.6		)	(0.5		)	—			0.1			(4.0		)
Net current-period other comprehensive income	0.7			4.4			(1.7		)	0.5			3.9
Ending balance	$	1.8		$	4.2		$	(3.8	)	$	(3.4	)	$	(1.2	)

	Three Months Ended March 31, 2014
	Gains (Losses) on Hedge Instruments			Unrealized Gains (Losses) on Available-for-Sale Securities			Foreign Currency Translation Gains (Losses)			Employee Benefit Plans			Total
Beginning balance	$	—		$	1.7		$	0.4		$	—		$	2.1
Other comprehensive income before reclassifications	0.5			3.9			0.3			(2.6		)	2.1
Amounts reclassified from accumulated other comprehensive income	(0.3		)	(0.1		)	—			—			(0.4		)
Net current-period other comprehensive income	0.2			3.8			0.3			(2.6		)	1.7
Ending balance	$	0.2		$	5.5		$	0.7		$	(2.6	)	$	3.8

SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Option Activity Under All Stock Plans

A summary of stock option activity under all stock plans for the three months ended March 31, 2015, is presented as follows (in millions, except per share amounts):



	Stock Options Outstanding
	Number Outstanding		Weighted Average Exercise Price Per Share
Balance at December 31, 2014	5.0		$	395.85
Options granted	0.2		513.90
Options exercised	(0.2	)	305.59
Options forfeited/expired	(0.1	)	502.58
Balance at March 31, 2015	4.9		$	403.30

Summary of RSU Activity

A summary of RSU activity for the three months ended March 31, 2015, is presented as follows (in millions, except per share amounts):



	Shares	Weighted Average Grant Date Fair Value
Unvested balance at December 31, 2014	0.2	$	441.07
Granted	0.2	513.97
Vested	0.0	443.39
Canceled	0.0	473.13
Unvested balance at March 31, 2015	0.4	$	482.47

Summary of Share-Based Compensation Expense

The following table summarizes share-based compensation expense for the three months ended March 31, 2015, and 2014 (in millions):



	Three Months Ended March 31,
	2015		2014
Cost of sales - products	$	5.3	$	4.4
Cost of sales - services	3.5		3.1
Total cost of sales	8.8		7.5
Selling, general and administrative	23.1		24.1
Research and development	9.3		9.2
Share-based compensation expense before income taxes	41.2		40.8
Income tax benefit	13.5		13.0
Share-based compensation expense after income taxes	$	27.7	$	27.8

Schedule of Estimated Fair Value of the Option Using Black-Scholes Option Pricing Model, Weighted Average Assumptions

The weighted average estimated fair values of stock options, the rights to acquire stock granted, and the weighted average assumptions used in calculating those fair values were as follows:



	Three Months Ended March 31,
	2015			2014
Stock Option Plans
Risk free interest rate	1.6		%	1.5		%
Expected term (in years)	4.5			4.5
Expected volatility	28		%	31		%
Weighted average fair value at grant date	$	135.61		$	123.45
Employee Stock Purchase Plans
Risk free interest rate	0.3		%	0.2		%
Expected term (in years)	1.2			1.3
Expected volatility	33		%	33		%
Weighted average fair value at grant date	$	145.52		$	128.87

NET INCOME PER SHARE (Tables)

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Income Per Share

The following table presents the computation of basic and diluted net income per share for the three months ended March 31, 2015, and 2014 (in millions, except per share amounts):



	Three Months Ended March 31,
	2015		2014
Numerator:
Net income	$	97.0	$	44.3
Denominator:
Weighted-average shares outstanding used in basic calculation	36.7		38.3
Add: dilutive effect of potential common shares	1.0		0.8
Weighted-average shares used in computing diluted net income per share	37.7		39.1
Net income per share:
Basic	$	2.64	$	1.16
Diluted	$	2.57	$	1.13

FINANCIAL INSTRUMENTS - Summary of Cash and Available-For-Sale Securities (Detail) - USD ($) $ in Millions	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 2,661.0	$ 2,497.1
Gross Unrealized Gains	6.4	2.3
Gross Unrealized Losses	(0.4)	(2.4)
Fair Value	2,667.0	2,497.0
Cash and Cash Equivalents	701.1	600.3	$ 814.0	$ 782.1
Short- term Investments	661.1	632.2
Long- term Investments	1,304.8	1,264.5
Cash
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	280.0	227.7
Fair Value	280.0	227.7
Cash and Cash Equivalents	280.0	227.7
Level 1
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	502.6	370.5
Gross Unrealized Gains	1.3	0.0
Gross Unrealized Losses	0.0	(0.1)
Fair Value	503.9	370.4
Cash and Cash Equivalents	385.0	324.4
Short- term Investments	82.8	19.3
Long- term Investments	36.1	26.7
Level 1 \| Money market funds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	385.0	324.4
Gross Unrealized Gains	0.0	0.0
Gross Unrealized Losses	0.0	0.0
Fair Value	385.0	324.4
Cash and Cash Equivalents	385.0	324.4
Level 1 \| U.S. treasuries & corporate equity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	117.6	46.1
Gross Unrealized Gains	1.3	0.0
Gross Unrealized Losses	0.0	(0.1)
Fair Value	118.9	46.0
Cash and Cash Equivalents	0.0	0.0
Short- term Investments	82.8	19.3
Long- term Investments	36.1	26.7
Level 2
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,878.4	1,898.9
Gross Unrealized Gains	5.1	2.3
Gross Unrealized Losses	(0.4)	(2.3)
Fair Value	1,883.1	1,898.9
Cash and Cash Equivalents	36.1	48.2
Short- term Investments	578.3	612.9
Long- term Investments	1,268.7	1,237.8
Level 2 \| Commercial paper
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	95.8	120.5
Gross Unrealized Gains	0.0	0.0
Gross Unrealized Losses	0.0	0.0
Fair Value	95.8	120.5
Cash and Cash Equivalents	29.6	48.2
Short- term Investments	66.2	72.3
Long- term Investments	0.0	0.0
Level 2 \| Corporate securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	852.9	904.8
Gross Unrealized Gains	3.5	1.3
Gross Unrealized Losses	(0.2)	(1.6)
Fair Value	856.2	904.5
Cash and Cash Equivalents	0.0	0.0
Short- term Investments	222.2	241.7
Long- term Investments	634.0	662.8
Level 2 \| U.S. government agencies
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	462.6	446.0
Gross Unrealized Gains	0.9	0.3
Gross Unrealized Losses	0.0	(0.4)
Fair Value	463.5	445.9
Cash and Cash Equivalents	6.5	0.0
Short- term Investments	114.2	105.6
Long- term Investments	342.8	340.3
Level 2 \| Non-U.S. government securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	41.3	42.2
Gross Unrealized Gains	0.0	0.0
Gross Unrealized Losses	0.0	(0.1)
Fair Value	41.3	42.1
Cash and Cash Equivalents	0.0	0.0
Short- term Investments	25.2	26.1
Long- term Investments	16.1	16.0
Level 2 \| Municipal securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	425.8	385.4
Gross Unrealized Gains	0.7	0.7
Gross Unrealized Losses	(0.2)	(0.2)
Fair Value	426.3	385.9
Cash and Cash Equivalents	0.0	0.0
Short- term Investments	150.5	167.2
Long- term Investments	$ 275.8	$ 218.7

FINANCIAL INSTRUMENTS - Summary of Contractual Maturities of Cash Equivalents and Available-For-Sale Investments (Detail) $ in Millions	Mar. 31, 2015 USD ($)
Amortized Cost
Mature in less than one year, Amortized Cost	$ 692.9
Mature in one to five years, Amortized Cost	1,300.8
Total, Amortized Cost	1,993.7
Fair Value
Mature in less than one year, Fair Value	693.5
Mature in one to five years, Fair Value	1,304.8
Total, Fair Value	$ 1,998.3

FINANCIAL INSTRUMENTS - Schedule of Derivative Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2015	Dec. 31, 2014
Derivatives Designated as Hedging Instruments [Member]
Notional amounts:
Forward contracts	$ 35.6	$ 7.9
Gross fair value recorded in:
Prepaid and other current assets	1.7	1.1
Other accrued liabilities	0.0	0.0
Derivatives Not Designated as Hedging Instruments [Member]
Notional amounts:
Forward contracts	88.7	102.1
Gross fair value recorded in:
Prepaid and other current assets	4.3	7.9
Other accrued liabilities	$ 0.0	$ 0.1

FINANCIAL INSTRUMENTS - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2015	Dec. 31, 2014
Investments, All Other Investments [Abstract]
Accumulated other comprehensive income, net unrealized gains (losses) on investments, before tax	$ 4.2	$ (0.2)

BALANCE SHEET DETAILS AND OTHER FINANCIAL INFORMATION - Details of Selected Balance Sheet Items and Supplemental Cash Flow Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Inventories:
Raw materials	$ 61.9		$ 60.0
Work-in-process	9.1		8.7
Finished goods	131.4		113.0
Total inventories	202.4		$ 181.7
Supplemental non-cash investing activities:
Equipment transfers from inventories to property, plant and equipment	$ 7.2	$ 14.5

LEASE RECEIVABLES - Lease Receivables Relating to Sales-Type Lease Arrangements (Details) - USD ($) $ in Millions	Mar. 31, 2015	Dec. 31, 2014
Leases [Abstract]
Gross lease receivables	$ 42.1	$ 40.4
Unearned income	(2.2)	(2.2)
Allowance for credit loss	0.0	0.0
Net investment in sales-type leases	39.9	38.2
Reported as:
Prepaids and other current assets	8.1	5.8
Intangible and other assets, net	$ 31.8	$ 32.4

LEASE RECEIVABLES - Contractal Maturities of Gross Lease Receivables (Details) $ in Millions	Mar. 31, 2015 USD ($)
Leases [Abstract]
2015	$ 6.3
2016	11.1
2017	11.0
2018	9.9
2019	3.7
Thereafter	0.1
Total	$ 42.1

CONTINGENCIES - Additional Information (Detail) $ in Millions			3 Months Ended		12 Months Ended
	Nov. 26, 2014 state patient	Feb. 03, 2014 Defendant	Mar. 31, 2015 USD ($) lawsuit	Mar. 31, 2014 USD ($)	Dec. 31, 2014 USD ($)
Berg v. Guthart et al.
Commitments and Contingencies [Line Items]
Loss Contingency, Number of Defendants \| Defendant		16
da Vinci Surgical System Product Liability Matters
Commitments and Contingencies [Line Items]
Number of lawsuits \| lawsuit			104
Number of patients on behalf of which damages are sought \| patient	19
Number of states involved in lawsuit \| state	12
Loss Contingency, Loss in Period					$ 82.4
Loss Contingency Accrual, Period Increase (Decrease)			$ 7.2	$ 67.4
Loss contingency amounts accrued			$ 39.7		$ 49.5

STOCKHOLDERS' EQUITY - Components of Accumulated Other Comprehensive Income, Net of Tax (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Gains (Losses) on Hedge Instruments
Beginning balance	$ 1.1	$ 0.0
Other comprehensive income before reclassifications	4.3	0.5
Amounts reclassified from accumulated other comprehensive income	(3.6)	(0.3)
Net current-period other comprehensive income	0.7	0.2
Ending balance	1.8	0.2
Unrealized Gains (Losses) on Available-for-Sale Securities
Beginning balance	(0.2)	1.7
Other comprehensive income before reclassifications	4.9	3.9
Amounts reclassified from accumulated other comprehensive income	(0.5)	(0.1)
Net current-period other comprehensive income	4.4	3.8
Ending balance	4.2	5.5
Foreign Currency Translation Gains (Losses)
Beginning balance	(2.1)	0.4
Other comprehensive income before reclassifications	(1.7)	0.3
Amounts reclassified from accumulated other comprehensive income	0.0	0.0
Net current-period other comprehensive income	(1.7)	0.3
Ending balance	(3.8)	0.7
Employee Benefit Plans
Beginning balance	(3.9)	0.0
Other comprehensive income before reclassifications	0.4	(2.6)
Amounts reclassified from accumulated other comprehensive income	0.1	0.0
Net current-period other comprehensive income	0.5	(2.6)
Ending balance	(3.4)	(2.6)
Total
Beginning balance	(5.1)	2.1
Other comprehensive income before reclassifications	7.9	2.1
Amounts reclassified from accumulated other comprehensive income	(4.0)	(0.4)
Net current-period other comprehensive income	3.9	1.7
Ending balance	$ (1.2)	$ 3.8

STOCKHOLDERS' EQUITY - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Jan. 29, 2015
Equity [Abstract]
Authorized repurchase amount			$ 1,000,000,000.0
Common stock repurchased (in shares)	30,000
Common stock repurchased	$ 14,700,000	$ 0
Common stock repurchased, average price per share (in dollars per share)	$ 495.45
Remaining authorized repurchase amount	$ 985,300,000

SHARE-BASED COMPENSATION - Summary Of Stock Option Activity Under All Stock Plans (Detail) shares in Millions	3 Months Ended
	Mar. 31, 2015 $ / shares shares
Number Outstanding
Beginning balance, Number Outstanding \| shares	5.0
Options granted, Number Outstanding \| shares	0.2
Options exercised, Number Outstanding \| shares	(0.2)
Options forfeited/expired, Number Outstanding \| shares	(0.1)
Ending balance, Number Outstanding \| shares	4.9
Weighted Average Exercise Price Per Share
Beginning balance, Weighted Average Exercise Price Per Share \| $ / shares	$ 395.85
Options granted, Weighted Average Exercise Price Per Share \| $ / shares	513.90
Options exercised, Weighted Average Exercise Price Per Share \| $ / shares	305.59
Options forfeited/expired, Weighted Average Exercise Price Per Share \| $ / shares	502.58
Ending balance, Weighted Average Exercise Price Per Share \| $ / shares	$ 403.30

SHARE-BASED COMPENSATION - Summary of RSU Activity (Details) - Restricted Stock Units (RSUs) shares in Thousands	3 Months Ended
	Mar. 31, 2015 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Roll Forward
Unvested balance at December 31, 2014 \| shares	200
Granted \| shares	200
Vested \| shares	(47)
Canceled \| shares	(5)
Unvested balance at March 31, 2015 \| shares	400
RSU Activity, Weighted Average Grant Date Fair Value
Unvested balance at December 31, 2014 \| $ / shares	$ 441.07
Granted \| $ / shares	513.97
Vested \| $ / shares	443.39
Canceled \| $ / shares	473.13
Unvested balance at March 31, 2015 \| $ / shares	$ 482.47

SHARE-BASED COMPENSATION - Stock-Based Compensation Expense (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense before income taxes	$ 41.2	$ 40.8
Income tax benefit	13.5	13.0
Share-based compensation expense after income taxes	27.7	27.8
Total cost of sales
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense before income taxes	8.8	7.5
Total cost of sales \| Cost of sales - products
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense before income taxes	5.3	4.4
Total cost of sales \| Cost of sales - services
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense before income taxes	3.5	3.1
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense before income taxes	23.1	24.1
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense before income taxes	$ 9.3	$ 9.2

SHARE-BASED COMPENSATION - Schedule Of Estimated Fair Value Of Option Using Black-Scholes Option Pricing Model, Weighted Average Assumptions (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	1.60%	1.50%
Expected term (in years)	4 years 6 months	4 years 6 months 11 days
Expected volatility	28.00%	31.00%
Weighted average fair value at grant date	$ 135.61	$ 123.45
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	0.30%	0.20%
Expected term (in years)	1 year 2 months	1 year 3 months
Expected volatility	33.00%	33.00%
Weighted average fair value at grant date	$ 145.52	$ 128.87

SHARE-BASED COMPENSATION - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options exercisable, number of shares	3,400
Options exercisable, weighted-average exercise price per share	$ 371.07
Employee Stock Purchase Plan, shares purchased (in shares)	100	100
Employee Stock Purchase Plan, shares purchased	$ 17.8	$ 17.5
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs vested (in shares)	47
RSUs canceled (in shares)	5
Amended and Restated 2009 Employment Commencement Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock authorized	500
Amended and Restated 2009 Employment Commencement Incentive Plan \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock authorized	200

INCOME TAXES - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income tax expense	$ 37.7	$ 16.2
Income tax expense, percentage of pre-tax income	28.00%	26.80%
Federal statutory tax rate	35.00%
Total gross unrecognized tax benefits	$ 80.0		$ 75.5
Unrecognized tax benefits, period increase	4.5
Gross interest and penalties related to unrecognized tax benefit accrued	$ 3.1		$ 2.5

NET INCOME PER SHARE - Computation of Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share, Basic and Diluted [Abstract]
Net income	$ 97.0	$ 44.3
Weighted-average shares outstanding used in basic calculation	36.7	38.3
Add: dilutive effect of potential common shares	1.0	0.8
Weighted-average shares used in computing diluted net income per share	37.7	39.1
Net income per share:
Basic (in dollars per share)	$ 2.64	$ 1.16
Diluted (in dollars per share)	$ 2.57	$ 1.13

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

NET INCOME PER SHARE - Additional Information (Detail) - shares shares in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Share-based compensation awards excluded from computation of diluted net income per share	1.9	2.9