v3.26.1
STOCKHOLDERS' EQUITY
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
Stockholders’ Equity
The following tables present the changes in stockholders’ equity (in millions):
Three Months Ended June 30, 2026
Common StockAdditional Paid-In CapitalRetained Earnings
Accumulated Other Comprehensive Income (Loss)
Total Intuitive Surgical, Inc. Stockholders’ EquityNoncontrolling Interest in Joint VentureTotal Stockholders’ Equity
SharesAmount
Beginning balance354.4 $0.4 $11,059.9 $6,397.7 $16.5 $17,474.5 $122.7 $17,597.2 
Issuance of common stock
— — — — — — — — 
Issuance of common stock through employee stock plans0.4 — 65.6 — — 65.6 — 65.6 
Shares withheld related to net share settlement of equity awards— — (0.5)(12.6)— (13.1)— (13.1)
Share-based compensation expense related to employee stock plans— — 213.0 — — 213.0 — 213.0 
Repurchase and retirement of common stock(0.9)— (13.0)(366.0)— (379.0)— (379.0)
Net income attributable to Intuitive Surgical, Inc.— — — 818.1 — 818.1 — 818.1 
Other comprehensive income (loss)— — — — (10.7)(10.7)1.5 (9.2)
Net income attributable to noncontrolling interest in joint venture— — — — — — 5.1 5.1 
Ending balance353.9 $0.4 $11,325.0 $6,837.2 $5.8 $18,168.4 $129.3 $18,297.7 
Three Months Ended June 30, 2025
Common StockAdditional Paid-In CapitalRetained Earnings
Accumulated Other Comprehensive Income (Loss)
Total Intuitive Surgical, Inc. Stockholders’ EquityNoncontrolling Interest in Joint VentureTotal Stockholders’ Equity
SharesAmount
Beginning balance
358.4 $0.4 $9,993.7 $7,139.4 $(27.1)$17,106.4 $101.3 $17,207.7 
Issuance of common stock through employee stock plans0.4 — 49.4 — — 49.4 — 49.4 
Shares withheld related to net share settlement of equity awards(0.1)— (0.4)(15.8)— (16.2)— (16.2)
Share-based compensation expense related to employee stock plans— — 198.6 — — 198.6 — 198.6 
Repurchase and retirement of common stock(0.3)— (4.5)(176.5)— (181.0)— (181.0)
Net income attributable to Intuitive Surgical, Inc.— — — 658.4 — 658.4 — 658.4 
Other comprehensive income— — — — 30.1 30.1 0.3 30.4 
Net income attributable to noncontrolling interest in joint venture— — — — — — 5.8 5.8 
Ending balance
358.4 $0.4 $10,236.8 $7,605.5 $3.0 $17,845.7 $107.4 $17,953.1 
Six Months Ended June 30, 2026
Common StockAdditional Paid-In CapitalRetained EarningsAccumulated Other Comprehensive Income (Loss)Total Intuitive Surgical, Inc. Stockholders’ EquityNoncontrolling Interest in Joint VentureTotal Stockholders’ Equity
SharesAmount
Beginning balance
355.1 $0.4 $10,768.5 $7,011.8 $43.3 $17,824.0 $117.7 $17,941.7 
Issuance of common stock through employee stock plans2.7 — 187.4 — — 187.4 — 187.4 
Shares withheld related to net share settlement of equity awards(0.7)— (10.7)(354.7)— (365.4)— (365.4)
Share-based compensation expense related to employee stock plans— — 426.8 — — 426.8 — 426.8 
Repurchase and retirement of common stock(3.2)— (47.0)(1,459.5)— (1,506.5)— (1,506.5)
Net income attributable to Intuitive Surgical, Inc.— — — 1,639.6 — 1,639.6 — 1,639.6 
Other comprehensive income (loss)— — — — (37.5)(37.5)2.0 (35.5)
Net income attributable to noncontrolling interest in joint venture— — — — — — 9.6 9.6 
Ending balance
353.9 $0.4 $11,325.0 $6,837.2 $5.8 $18,168.4 $129.3 $18,297.7 
Six Months Ended June 30, 2025
Common StockAdditional Paid-In CapitalRetained EarningsAccumulated Other Comprehensive Income (Loss)Total Intuitive Surgical, Inc. Stockholders’ EquityNoncontrolling Interest in Joint VentureTotal Stockholders’ Equity
SharesAmount
Beginning balance
356.6 $0.4 $9,681.3 $6,803.3 $(51.3)$16,433.7 $95.9 $16,529.6 
Issuance of common stock through employee stock plans2.8 — 183.7 — — 183.7 — 183.7 
Shares withheld related to net share settlement of equity awards(0.7)— (8.2)(378.1)— (386.3)— (386.3)
Share-based compensation expense related to employee stock plans— — 384.5 — — 384.5 — 384.5 
Repurchase and retirement of common stock(0.3)— (4.5)(176.5)— (181.0)— (181.0)
Net income attributable to Intuitive Surgical, Inc.— — — 1,356.8 — 1,356.8 — 1,356.8 
Other comprehensive income— — — — 54.3 54.3 0.4 54.7 
Net income attributable to noncontrolling interest in joint venture— — — — — — 11.1 11.1 
Ending balance
358.4 $0.4 $10,236.8 $7,605.5 $3.0 $17,845.7 $107.4 $17,953.1 
Stock Repurchase Program
Through June 30, 2026, the Board of Directors (the “Board”) has authorized an aggregate of $17.4 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 April 2026, when the Board increased the authorized amount available under the Repurchase Program to $5.0 billion, including amounts remaining under previous authorizations. As of June 30, 2026, the remaining amount of share repurchases authorized by the Board under the Repurchase Program was approximately $4.7 billion.
The following table summarizes stock repurchase activities (in millions, except per share amounts):
 Three Months Ended June 30,Six Months Ended June 30,
 2026202520262025
Shares repurchased0.9 0.3 3.2 0.3 
Average price per share$438.68 $517.70 $475.67 $517.70 
Value of shares repurchased$379.0 $181.0 $1,506.5 $181.0 
, Net of Tax, Attributable to Intuitive Surgical, Inc.
The components of accumulated other comprehensive income (loss), net of tax, attributable to Intuitive Surgical, Inc. are as follows (in millions):
Three Months Ended June 30, 2026
 Gains on Hedge InstrumentsUnrealized Gains (Losses) on Available-for-Sale SecuritiesForeign Currency Translation GainsEmployee Benefit PlansTotal
Beginning balance$13.9 $6.9 $17.5 $(21.8)$16.5 
Other comprehensive income (loss) before reclassifications(3.3)(18.7)4.7 (0.2)(17.5)
Amounts reclassified from accumulated other comprehensive income6.4 — — 0.4 6.8 
Net current-period other comprehensive income (loss)3.1 (18.7)4.7 0.2 (10.7)
Ending balance$17.0 $(11.8)$22.2 $(21.6)$5.8 
 Three Months Ended June 30, 2025
 Gains (Losses) on Hedge InstrumentsUnrealized Gains on Available-for-Sale SecuritiesForeign Currency Translation Gains (Losses)Employee Benefit PlansTotal
Beginning balance$0.6 $14.5 $(27.7)$(14.5)$(27.1)
Other comprehensive income (loss) before reclassifications(11.8)7.1 37.8 — 33.1 
Amounts reclassified from accumulated other comprehensive income (loss)(3.5)0.3 — 0.2 (3.0)
Net current-period other comprehensive income (loss)(15.3)7.4 37.8 0.2 30.1 
Ending balance$(14.7)$21.9 $10.1 $(14.3)$3.0 
Six Months Ended June 30, 2026
Gains on Hedge InstrumentsUnrealized Gains (Losses) on Available-for-Sale SecuritiesForeign Currency Translation GainsEmployee Benefit PlansTotal
Beginning balance$4.0 $30.5 $29.5 $(20.7)$43.3 
Other comprehensive income (loss) before reclassifications3.1 (42.3)(7.3)(1.7)(48.2)
Amounts reclassified from accumulated other comprehensive income9.9 — — 0.8 10.7 
Net current-period other comprehensive income (loss)13.0 (42.3)(7.3)(0.9)(37.5)
Ending balance$17.0 $(11.8)$22.2 $(21.6)$5.8 
Six Months Ended June 30, 2025
Gains (Losses) on Hedge InstrumentsUnrealized Gains (Losses) on Available-for-Sale SecuritiesForeign Currency Translation Gains (Losses)Employee Benefit PlansTotal
Beginning balance$11.0 $(14.6)$(33.1)$(14.6)$(51.3)
Other comprehensive income (loss) before reclassifications(27.8)36.2 43.2 — 51.6 
Amounts reclassified from accumulated other comprehensive income2.1 0.3 — 0.3 2.7 
Net current-period other comprehensive income (loss)(25.7)36.5 43.2 0.3 54.3 
Ending balance$(14.7)$21.9 $10.1 $(14.3)$3.0 
The tax impacts for amounts recognized in other comprehensive income (loss) before reclassifications and reclassified from accumulated other comprehensive income relating to hedge instruments, available-for-sale securities, foreign currency translation gains (losses), and employee benefit plans for the three and six months ended June 30, 2026, and 2025, were not material to the Company’s Financial Statements.