SEC Filings

10-K
INTUITIVE SURGICAL INC filed this Form 10-K on 02/02/2018
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practice of estimating expected forfeitures. The amount of excess tax benefits and deficiencies recognized in the provision for income taxes will fluctuate from period to period based on the price of the Company’s stock, the volume of share-based instruments settled or vested, and the value assigned to share-based instruments under U.S. GAAP.
NOTE 3.    FINANCIAL INSTRUMENTS
Cash, Cash Equivalents, and Investments
The following tables summarize the Company’s cash and available-for-sale marketable securities’ amortized cost, gross unrealized gains, gross unrealized losses, and fair value by significant investment category reported as cash and cash equivalents or short-term or long-term investments as of December 31, 2017, and 2016 (in millions):
 
 
 
 
 
 
 
 
 
Reported as:
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
Cash and
Cash
Equivalents
 
Short-term
Investments
 
Long-term
Investments
December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash
$
197.7

 
$

 
$

 
$
197.7

 
$
197.7

 
$

 
$

Level 1:
 
 
 
 
 
 
 
 
 
 
 
 
 
Money market funds
445.0

 

 

 
445.0

 
445.0

 

 

U.S. treasuries
1,029.1

 

 
(4.7
)
 
1,024.4

 
5.5

 
396.2

 
622.7

Subtotal
1,474.1

 

 
(4.7
)
 
1,469.4

 
450.5

 
396.2

 
622.7

Level 2:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial paper
38.4

 

 

 
38.4

 

 
38.4

 

Corporate securities
946.6

 
0.2

 
(4.4
)
 
942.4

 

 
403.9

 
538.5

U.S. government agencies
901.3

 

 
(4.4
)
 
896.9

 

 
311.7

 
585.2

Non-U.S. government securities
2.5

 

 

 
2.5

 

 
2.5

 

Municipal securities
301.1

 

 
(1.9
)
 
299.2

 

 
159.7

 
139.5

Subtotal
2,189.9

 
0.2

 
(10.7
)
 
2,179.4

 

 
916.2

 
1,263.2

Total assets measured at fair value
$
3,861.7

 
$
0.2

 
$
(15.4
)
 
$
3,846.5

 
$
648.2

 
$
1,312.4

 
$
1,885.9

 
 
 
 
 
 
 
 
 
Reported as:
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
Cash and
Cash
Equivalents
 
Short-term
Investments
 
Long-term
Investments
December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash
$
227.7

 
$

 
$

 
$
227.7

 
$
227.7

 
$

 
$

Level 1:
 
 
 
 
 
 
 
 
 
 
 
 
 
Money market funds
612.4

 

 

 
612.4

 
612.4

 

 

U.S. treasuries
625.9

 
0.1

 
(2.0
)
 
624.0

 
157.9

 
168.4

 
297.7

Subtotal
1,238.3

 
0.1

 
(2.0
)
 
1,236.4

 
770.3

 
168.4

 
297.7

Level 2:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial paper
139.6

 

 

 
139.6

 
31.1

 
108.5

 

Corporate securities
1,471.8

 
0.7

 
(5.0
)
 
1,467.5

 
2.9

 
555.4

 
909.2

U.S. government agencies
938.7

 
0.5

 
(2.9
)
 
936.3

 

 
342.7

 
593.6

Non-U.S. government securities
18.5

 

 

 
18.5

 

 
16.0

 
2.5

Municipal securities
815.4

 

 
(3.5
)
 
811.9

 
4.6

 
327.0

 
480.3

Subtotal
3,384.0

 
1.2

 
(11.4
)
 
3,373.8

 
38.6

 
1,349.6

 
1,985.6

Total assets measured at fair value
$
4,850.0

 
$
1.3

 
$
(13.4
)
 
$
4,837.9

 
$
1,036.6

 
$
1,518.0

 
$
2,283.3


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