Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Intuitive Surgical Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in thousands

	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Accounts payable	255,100)	291,200)	266,800)	276,200)	193,400)	218,700)	194,400)	194,400)	188,700)	196,200)	199,700)	164,100)	147,000)	164,200)	149,700)	128,100)	121,200)	120,000)	117,900)	103,100)
Accrued compensation and employee benefits	648,400)	455,500)	420,800)	309,700)	535,600)	377,500)	321,300)	238,400)	436,400)	374,800)	346,600)	260,900)	401,600)	308,200)	278,600)	219,800)	350,100)	265,300)	254,000)	194,800)
Deferred revenue	506,700)	491,100)	499,900)	496,300)	468,800)	426,000)	433,900)	437,500)	446,100)	394,800)	405,200)	417,800)	397,300)	358,900)	376,300)	386,000)	377,200)	348,500)	360,000)	358,100)
Other accrued liabilities	596,000)	565,400)	505,100)	455,900)	547,500)	654,600)	537,900)	504,800)	587,500)	710,600)	586,900)	464,600)	476,200)	402,100)	370,400)	378,300)	301,300)	293,500)	272,700)	248,600)
Current liabilities	2,006,200)	1,803,200)	1,692,600)	1,538,100)	1,745,300)	1,676,800)	1,487,500)	1,375,100)	1,658,700)	1,676,400)	1,538,400)	1,307,400)	1,422,100)	1,233,400)	1,175,000)	1,112,200)	1,149,800)	1,027,300)	1,004,600)	904,600)
Other long-term liabilities	510,800)	506,500)	517,500)	474,600)	468,300)	389,100)	365,900)	406,500)	385,500)	412,800)	405,200)	451,600)	439,300)	453,400)	447,800)	409,300)	453,700)	447,800)	412,900)	445,600)
Long-term liabilities	510,800)	506,500)	517,500)	474,600)	468,300)	389,100)	365,900)	406,500)	385,500)	412,800)	405,200)	451,600)	439,300)	453,400)	447,800)	409,300)	453,700)	447,800)	412,900)	445,600)
Total liabilities	2,517,000)	2,309,700)	2,210,100)	2,012,700)	2,213,600)	2,065,900)	1,853,400)	1,781,600)	2,044,200)	2,089,200)	1,943,600)	1,759,000)	1,861,400)	1,686,800)	1,622,800)	1,521,500)	1,603,500)	1,475,100)	1,417,500)	1,350,200)
Preferred stock, $0.001 par value, issuable in series; zero shares issued and outstanding	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Common stock, $0.001 par value	400)	400)	400)	400)	400)	400)	400)	400)	400)	400)	400)	400)	400)	400)	400)	400)	400)	400)	100)	100)
Additional paid-in capital	10,768,500)	10,478,800)	10,236,800)	9,993,700)	9,681,300)	9,440,200)	9,149,700)	8,903,000)	8,576,400)	8,385,900)	8,150,800)	7,928,400)	7,703,900)	7,684,800)	7,484,000)	7,354,600)	7,164,000)	7,015,100)	6,804,400)	6,627,300)
Retained earnings	7,011,800)	6,424,000)	7,605,500)	7,139,400)	6,803,300)	6,129,800)	5,581,700)	5,067,900)	4,743,000)	4,209,200)	3,807,700)	3,397,400)	3,500,100)	4,017,800)	4,682,800)	4,858,000)	4,760,900)	4,390,100)	4,022,700)	3,514,700)
Accumulated other comprehensive income (loss)	43,300)	26,500)	3,000)	(27,100)	(51,300)	12,900)	(23,500)	(8,700)	(12,200)	(56,500)	(79,800)	(108,500)	(162,500)	(187,600)	(144,200)	(110,700)	(24,200)	5,300)	10,300)	11,400)
Total Intuitive Surgical, Inc. stockholders’ equity	17,824,000)	16,929,700)	17,845,700)	17,106,400)	16,433,700)	15,583,300)	14,708,300)	13,962,600)	13,307,600)	12,539,000)	11,879,100)	11,217,700)	11,041,900)	11,515,400)	12,023,000)	12,102,300)	11,901,100)	11,410,900)	10,837,500)	10,153,500)
Noncontrolling interest in joint venture	117,700)	112,400)	107,400)	101,300)	95,900)	94,200)	88,200)	83,800)	89,700)	84,500)	80,600)	76,500)	70,700)	58,600)	59,400)	54,600)	50,400)	48,600)	42,000)	36,700)
Total stockholders’ equity	17,941,700)	17,042,100)	17,953,100)	17,207,700)	16,529,600)	15,677,500)	14,796,500)	14,046,400)	13,397,300)	12,623,500)	11,959,700)	11,294,200)	11,112,600)	11,574,000)	12,082,400)	12,156,900)	11,951,500)	11,459,500)	10,879,500)	10,190,200)
Total liabilities and stockholders’ equity	20,458,700)	19,351,800)	20,163,200)	19,220,400)	18,743,200)	17,743,400)	16,649,900)	15,828,000)	15,441,500)	14,712,700)	13,903,300)	13,053,200)	12,974,000)	13,260,800)	13,705,200)	13,678,400)	13,555,000)	12,934,600)	12,297,000)	11,540,400)

Total liabilities and stockholders’ equity exhibited an overall increasing trend throughout the observed period, beginning at approximately US$11.54 billion in March 2021 and reaching approximately US$20.46 billion by December 2025. Within this overall growth, distinct patterns are visible in both the liabilities and equity components.

Current Liabilities: Current liabilities generally increased from US$904.6 million in March 2021 to a peak of US$2.006 billion in December 2025. There were fluctuations within this period, with a notable increase between September 2022 and December 2023. A slight decrease was observed in the most recent quarter, June 2025, but remained significantly higher than the starting value.
Long-Term Liabilities: Long-term liabilities remained relatively stable between March 2021 and December 2022, fluctuating around US$440 million. A noticeable increase began in March 2023, reaching US$510.8 million by December 2025. This suggests a shift towards increased long-term financing.
Accounts Payable: Accounts payable demonstrated considerable volatility. Starting at US$103.1 million in March 2021, it increased to US$164.2 million by September 2021, then decreased to US$147.0 million by December 2021. A subsequent rise to US$291.2 million by September 2025 was observed, with a decrease to US$255.1 million in the final reported period. This suggests fluctuations in supplier credit terms or purchasing patterns.
Accrued Compensation and Employee Benefits: Accrued compensation and employee benefits exhibited a significant upward trend, particularly between March 2021 and December 2023. Beginning at US$194.8 million, it peaked at US$648.4 million in December 2025. This increase likely reflects company growth and associated personnel costs. A substantial increase is noted between March 2023 and December 2023.
Deferred Revenue: Deferred revenue remained relatively stable, fluctuating between US$348.5 million and US$446.1 million throughout the period. A slight upward trend is visible, increasing from US$358.1 million in March 2021 to US$506.7 million in December 2025. This indicates consistent revenue recognition patterns.
Other Accrued Liabilities: Other accrued liabilities showed a consistent upward trend, increasing from US$248.6 million in March 2021 to US$596.0 million in December 2025. This suggests a growing volume of miscellaneous obligations.
Total Stockholders’ Equity: Total stockholders’ equity increased from US$10.19 billion in March 2021 to US$17.94 billion in December 2025. The primary driver of this growth was an increase in additional paid-in capital and retained earnings. Retained earnings increased from US$3.51 billion to US$7.01 billion over the period, indicating profitability and reinvestment of earnings. Additional paid-in capital also showed substantial growth, increasing from US$6.63 billion to US$10.77 billion.
Accumulated Other Comprehensive Income (Loss): Accumulated other comprehensive income (loss) fluctuated significantly, starting at US$11.4 million in March 2021, becoming a loss of US$24.2 million by December 2021, and ending at US$43.3 million in December 2025. This suggests volatility in items outside of net income, such as foreign currency translation adjustments or unrealized gains/losses on investments.

Overall, the balance sheet reflects a growing company with increasing liabilities and substantial growth in stockholders’ equity. The increase in accrued compensation and employee benefits, alongside the growth in retained earnings, suggests continued investment in personnel and profitable operations. The fluctuations in accounts payable and accumulated other comprehensive income warrant further investigation.

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Intuitive Surgical Inc. (NASDAQ:ISRG)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data