Company: ISRG
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001035267-25-000109
Chunk: 15

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-04-23
Form: 10-Q
Item: Item 1
Chunk 15
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 84 months and are usually collateralized by a security interest in the underlying assets. 

13

The allowance for loan loss is based on the Company’s assessment of the current expected lifetime loss on lease receivables. The Company regularly reviews the allowance by considering factors such as historical experience, credit quality, age of the lease receivable balances, and current economic conditions that may affect a customer’s ability to pay. Lease receivables are considered past due 90 days after invoice.The Company manages the credit risk of the net investment in sales-type leases using a number of factors relating to its customers, including, but not limited to, the following: size of operations; profitability, liquidity, and debt ratios; payment history; and past due amounts. The Company also uses credit scores obtained from external providers as a key indicator for the purposes of determining credit quality. The following table summarizes the amortized cost basis by year of origination and by credit quality for the net investment in sales-type leases as of March 31, 2025 (in millions):20252024202320222021PriorNet InvestmentCredit Rating:High$14.4 $61.0 $28.9 $39.2 $26.1 $4.9 $174.5 Moderate9.4 78.5 18.7 36.1 24.1 9.5 176.3 Low— 2.9 0.8 1.2 1.2 0.7 6.8 Total$23.8 $142.4 $48.4 $76.5 $51.4 $15.1 $357.6 

For the three months ended March 31, 2025, and 2024, credit losses related to the net investment in sales-type leases were not material.

NOTE 7.    GOODWILL AND INTANGIBLE ASSETS

AcquisitionsThere were no material acquisitions in the three months ended March 31, 2025, and 2024.Pending AcquisitionsOn January 21, 2025, Intuitive announced that it has entered into a definitive agreement with the current Intuitive technology distributors ab medica, Abex, Excelencia Robotica, and their affiliates to acquire the da Vinci and Ion distribution businesses in Italy, Spain, Portugal, Malta, and San Marino, and associated territories. The transaction consists of an upfront cash payment of approximately EUR 290 million