Company: ISRG
Filing Date: 2025-01-31
Form Type: 10-K
Source: 0001035267-25-000017
Chunk: 163

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-01-31
Form: 10-K
Item: Item 8
Chunk 163
---
 financial condition and near-term prospects of the investee, the extent of the loss related to the credit of the issuer, and the expected cash flows from the security.Equity InvestmentsThe following table is a summary of the activity related to equity investments (in millions):Reported as:December 31, 2023Carrying ValueChanges in Fair Value (1)Purchases / Sales / Other (2)December 31, 2024Carrying ValuePrepaids and other current assetsIntangible and other assets, netEquity investments without readily determinable fair value (Level 2)$74.5 $(9.3)$19.4 $84.6 $— $84.6 (1) Recorded in interest and other income, net.(2) Other includes foreign currency translation gains/(losses).During 2024, the Company did not hold any equity investments with readily determinable fair values (Level 1).During 2024, the Company recognized a net decrease in fair value of $9.3 million primarily due to impairments and net decreases in observable price changes for certain equity investments that lack readily determinable market values (Level 2), which were also reflected in interest and other income, net.Foreign Currency DerivativesThe objective of the Company’s hedging program is to mitigate the impact of changes in currency exchange rates on net cash flow from foreign currency-denominated sales, expenses, intercompany balances, and other monetary assets or liabilities denominated in currencies other than the U.S. dollar (“USD”). The terms of the Company’s derivative contracts are generally thirteen months or shorter. The derivative assets and liabilities are measured using Level 2 fair value inputs.

104

Cash Flow Hedges.  The Company enters into currency forward contracts as cash flow hedges to hedge certain forecasted revenue transactions denominated in currencies other than the USD, primarily the Euro (“EUR”), the British Pound (“GBP”), the Japanese Yen (“JPY”), the Korean Won (“KRW”), the New Taiwan Dollar (“TWD”), and the Indian Rupee (“INR”). The Company also enters into currency forward contracts as cash flow hedges to hedge certain forecasted expense transactions denominated in EUR and the Swiss Franc (“CHF”).For these derivatives, the Company reports the unrealized after-tax gain or loss from the hedge as a component of accumulated other comprehensive income (loss) in stockholders’ equity and reclassifies the amount into earnings in the same period in which the hedged transaction affects