Company: ISRG
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001035267-25-000209
Chunk: 12

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-10-22
Form: 10-Q
Item: Item 1
Chunk 12
---
, TWD, INR, the Mexican Peso (“MXN”), and the Chinese Yuan (“CNY”).These derivative instruments are used to hedge against balance sheet foreign currency exposures. The related gains and losses were as follows (in millions):Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Recognized gains (losses) in interest and other income, net$13.2 $(27.3)$(22.1)$2.8 Foreign exchange gains (losses) related to balance sheet re-measurement$(14.3)$31.5 $12.2 $(1.1)

The notional amounts for derivative instruments provide one measure of the transaction volume. Total gross notional amounts (in USD) for outstanding derivatives and the aggregate gross fair value at the end of each period were as follows (in millions):Derivatives Designated as Hedging InstrumentsDerivatives Not Designated as Hedging InstrumentsSeptember 30,2025December 31,2024September 30,2025December 31,2024Notional amounts:Forward contracts$570.8 $382.2 $714.4 $693.5 Gross fair value recorded in:Prepaids and other current assets$5.4 $14.9 $3.3 $13.0 Other accrued liabilities$8.1 $2.1 $9.0 $2.4 

NOTE 4.    BALANCE SHEET DETAILS AND OTHER FINANCIAL INFORMATION

Balance Sheet DetailsThe following tables provide details of selected Condensed Consolidated Balance Sheet line items (in millions):

 As ofAccounts receivable, netSeptember 30,2025December 31,2024Trade accounts receivable, net$1,120.0 $1,117.2 Unbilled accounts receivable and other164.6 138.7 Sales returns and allowances(24.9)(30.5)Total accounts receivable, net$1,259.7 $1,225.4 

As ofInventorySeptember 30,2025December 31,2024Raw materials$531.2 $563.9 Work-in-process225.2 205.7 Finished goods1,025.5 717.6 Total inventory$1,781.9 $1,487.2 

10

As ofPrepaids