STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Stockholders’ Equity

The following tables present the changes in stockholders’ equity (in millions):

	Three Months Ended March 31, 2020
	Common Stock			Additional Paid-In Capital		Retained Earnings		Accumulated Other Comprehensive Income		Total Intuitive Surgical, Inc. Stockholders’ Equity		Noncontrolling Interest in Joint Venture		Total Stockholders’ Equity
	Shares	Amount
Beginning balance	116.0	$	0.1	$	5,756.8	$	2,494.5	$	12.4	$	8,263.8	$	20.9	$	8,284.7
Adoption of new accounting standard						(0.1)				(0.1)				(0.1)
Issuance of common stock through employee stock plans	1.1			91.3						91.3				91.3
Shares withheld related to net share settlement of equity awards	(0.3)			(6.7)		(142.2)				(148.9)				(148.9)
Share-based compensation expense related to employee stock plans				90.6						90.6				90.6
Repurchase and retirement of common stock	(0.2)			(5.2)		(94.8)				(100.0)				(100.0)
Net income attributable to Intuitive Surgical, Inc.						313.5				313.5				313.5
Other comprehensive income (loss)								(3.5)		(3.5)		0.2		(3.3)
Net income attributable to noncontrolling interest in joint venture										—		2.7		2.7
Ending balance	116.6	$	0.1	$	5,926.8	$	2,570.9	$	8.9	$	8,506.7	$	23.8	$	8,530.5
	Three Months Ended March 31, 2019
	Common Stock			Additional Paid-In Capital		Retained Earnings		Accumulated Other Comprehensive Loss		Total Intuitive Surgical, Inc. Stockholders’ Equity		Noncontrolling Interest in Joint Venture		Total Stockholders’ Equity
	Shares	Amount
Beginning balance	114.5	$	0.1	$	5,170.3	$	1,521.7	$	(13.3)	$	6,678.8	$	8.7	$	6,687.5
Issuance of common stock through employee stock plans	1.2			88.8						88.8				88.8
Shares withheld related to net share settlement of equity awards	(0.3)			(6.4)		(132.2)				(138.6)				(138.6)
Share-based compensation expense related to employee stock plans				76.1						76.1				76.1
Net income attributable to Intuitive Surgical, Inc.						306.5				306.5				306.5
Other comprehensive income								12.6		12.6				12.6
Capital contribution from noncontrolling interest										—		10.0		10.0
Net loss attributable to noncontrolling interest in joint venture										—		(2.5)		(2.5)
Ending balance	115.4	$	0.1	$	5,328.8	$	1,696.0	$	(0.7)	$	7,024.2	$	16.2	$	7,040.4

Stock Repurchase Program

The Company’s Board of Directors (the “Board”) has authorized an aggregate of $7.5 billion of funding for the Company’s common stock repurchase program (the “Repurchase Program”) since its establishment in March 2009. The most recent authorization occurred in January 2019 when the Board increased the authorized amount available under the Repurchase Program to $2.0 billion. As of March 31, 2020, the remaining amount of share repurchases authorized by the Board was $1.6 billion.

The following table provides share repurchase activities (in millions, except per share amounts):

	Three Months Ended March 31,
	2020		2019
Shares repurchased	0.2		—
Average price per share	$	521.83	$	—
Value of shares repurchased	$	100.0	$	—

Accumulated Other Comprehensive Income (Loss) Attributable to Intuitive

The components of accumulated other comprehensive income (loss), net of tax, attributable to Intuitive are as follows (in millions):

	Three Months Ended March 31, 2020
	Gains (Losses) on Hedge Instruments		Unrealized Gains (Losses) on Available-for-Sale Securities		Foreign Currency Translation Gains (Losses)		Employee Benefit Plans		Total
Beginning balance	$	0.7	$	20.4	$	—	$	(8.7)	$	12.4
Other comprehensive income (loss) before reclassifications	2.8		16.8		(20.6)		—		(1.0)
Amounts reclassified from accumulated other comprehensive income (loss)	(1.7)		(1.0)		—		0.2		(2.5)
Net current-period other comprehensive income (loss)	1.1		15.8		(20.6)		0.2		(3.5)
Ending balance	$	1.8	$	36.2	$	(20.6)	$	(8.5)	$	8.9
	Three Months Ended March 31, 2019
	Gains (Losses) on Hedge Instruments		Unrealized Gains (Losses) on Available-for-Sale Securities		Foreign Currency Translation Gains (Losses)		Employee Benefit Plans		Total
Beginning balance	$	0.2	$	(9.8)	$	(0.3)	$	(3.4)	$	(13.3)
Other comprehensive income (loss) before reclassifications	3.5		11.6		(0.4)		(0.1)		14.6
Amounts reclassified from accumulated other comprehensive income (loss)	(2.1)		—		—		0.1		(2.0)
Net current-period other comprehensive income (loss)	1.4		11.6		(0.4)		—		12.6
Ending balance	$	1.6	$	1.8	$	(0.7)	$	(3.4)	$	(0.7)