Company: ISRG
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0001035267-25-000192
Chunk: 17

Company: INTUITIVE SURGICAL INC
Filing Date: 2025-07-23
Form: 10-Q
Item: Item 1
Chunk 17
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 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 and up to an additional EUR 31 million in commercial milestone cash payments, subject to certain closing adjustments. The Company expects to complete the transaction in the first half of 2026, subject to applicable regulatory approvals and customary closing conditions.

GoodwillThe following table summarizes the changes in the carrying amount of goodwill (in millions):AmountBalance as of December 31, 2024$347.5 Acquisition activity— Translation and other1.2 Balance as of June 30, 2025$348.7 

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Intangible AssetsThe following table summarizes the components of gross intangible assets, accumulated amortization, and net intangible assets balances (in millions):As of June 30, 2025As of December 31, 2024Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying AmountPatents and developed technology$204.5 $(189.8)$14.7 $203.3 $(185.4)$17.9 Customer relationships29.2 (26.0)3.2 27.3 (22.3)5.0 Distribution rights and others— — — 1.2 (1.1)0.1 Total intangible assets$233.7 $(215.8)$17.9 $231.8 $(208.8)$23.0 

Amortization expense related to intangible assets was $3.2 million and $5.0 million for the three months ended June 30, 2025, and 2024, respectively. Amortization expense related to intangible assets was $6.6 million and $10.1 million for the six months ended June 30, 2025, and 2024, respectively.

The estimated future amortization expense related to intangible assets as of June 30, 2025, is as follows (in millions):Fiscal YearAmountRemainder of 2025$6.6 20265.9 20273.0 20281.4 202