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INCOME TAXES - COMPONENTS OF (LOSS) INCOME BEFORE INCOME TAXES FROM OPERATIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
United States	$ (6)	$ (531)	$ 51
Foreign	(169)	(524)	494
(Loss) income before income taxes	$ (175)	$ (1,055)	$ 545

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

COMMITMENTS AND CONTINGENCIES - NON-CANCELABLE PURCHASE COMMITMENTS (Details) $ in Millions	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 193
2025	77
2026	59
2027	6
2028	0
Thereafter	0
Total	$ 335

COMPREHENSIVE (LOSS) INCOME (Tables)

12 Months Ended

Dec. 31, 2023

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in AOCI, net of tax, by component for the years ended December 31, 2023 and 2022 were as follows:


(in millions)	Foreign Currency Translation Gain (Loss)		Gain (Loss) on Cash Flow Hedges		Gain (Loss) on Net Investment and Fair Value Hedges		Pension Liability Gain (Loss)		Total

Balance, net of tax, at December 31, 2022	$	(522)	$	(17)	$	(73)	$	(16)	$	(628)
Other comprehensive income (loss) before reclassifications and tax impact	2		—		(45)		(34)		(77)
Tax benefit	47		—		11		8		66
Other comprehensive income (loss), net of tax, before reclassifications	$	49	$	—	$	(34)	$	(26)	$	(11)
Amounts reclassified from accumulated other comprehensive income, net of tax	—		4		—		(1)		3
Net increase (decrease) in other comprehensive income	49		4		(34)		(27)		(8)

Balance, net of tax, at December 31, 2023	$	(473)	$	(13)	$	(107)	$	(43)	$	(636)


(in millions)	Foreign Currency Translation Gain (Loss)		Gain (Loss) on Cash Flow Hedges		Gain (Loss) on Net Investment and Fair Value Hedges		Pension Liability Gain (Loss)		Total

Balance, net of tax, at December 31, 2021	$	(366)	$	(16)	$	(103)	$	(107)	$	(592)
Other comprehensive (loss) income before reclassifications and tax impact	(127)		(1)		39		116		27
Tax expense	(29)		—		(9)		(30)		(68)
Other comprehensive (loss) income, net of tax, before reclassifications	$	(156)	$	(1)	$	30	$	86	$	(41)
Amounts reclassified from accumulated other comprehensive income, net of tax	—		—		—		5		5
Net (decrease) increase in other comprehensive income	(156)		(1)		30		91		(36)

Balance, net of tax, at December 31, 2022	$	(522)	$	(17)	$	(73)	$	(16)	$	(628)

Schedule of Reclassification out of Accumulated Other Comprehensive Income

Reclassification out of AOCI to the Consolidated Statements of Operations for the years ended December 31, 2023, 2022 and 2021 were as follows:



	Amounts Reclassified from AOCI						Affected Line Item in the Consolidated Statements of Operations
	Year Ended December 31,
(in millions)	2023		2022		2021




Gain (Loss) on derivative financial instruments:
Interest rate swaps	$	(3)	$	(3)	$	(4)	Interest expense, net
Foreign exchange forward contracts	(1)		3		(3)		Cost of products sold


Net loss before tax	$	(4)	$	—	$	(7)
Tax impact	—		—		—		(Benefit) provision for income taxes
Net loss after tax	$	(4)	$	—	$	(7)






Amortization of defined benefit pension and other postemployment benefit items:
Amortization of prior service benefits	$	1	$	1	$	1	(a)

Amortization of net actuarial losses	—		(8)		(12)		(a)
Net income (loss) before tax	$	1	$	(7)	$	(11)
Tax impact	—		2		3		(Benefit) provision for income taxes
Net income (loss) after tax	$	1	$	(5)	$	(8)

Total reclassifications for the period	$	(3)	$	(5)	$	(15)

(a) These AOCI components are included in the computation of net periodic benefit cost for the years ended December 31, 2023, 2022 and 2021, respectively.

LEASES - LEASE COSTS (Details) - USD ($) $ in Millions	12 Months Ended
LEASES - LEASE COSTS (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 67	$ 68
Short-term lease cost	0	1
Variable lease cost	15	12
Total lease cost	$ 82	$ 81

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Translation Adjustment	$ 791
Allowance for doubtful accounts:
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	14	$ 13	$ 18
Charged (Credited) To Costs And Expenses	6	7	2
Charged to Other Accounts	(1)	(2)	(3)
Write-offs Net of Recoveries	(3)	(3)	(2)
Translation Adjustment	1	(1)	(2)
Balance at End of Period	17	14	13
Inventory valuation reserve:
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	82	86	117
Charged (Credited) To Costs And Expenses	39	20	17
Charged to Other Accounts	0	0	0
Write-offs Net of Recoveries	(18)	(17)	(41)
Translation Adjustment	4	(7)	(7)
Balance at End of Period	107	82	86
Deferred tax asset valuation allowance:
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	645	267	287
Charged (Credited) To Costs And Expenses	279	3	(10)
Charged to Other Accounts	4	382	0
Write-offs Net of Recoveries	(70)	(1)	(3)
Translation Adjustment	5	(6)	(7)
Balance at End of Period	$ 863	$ 645	$ 267

COMPREHENSIVE (LOSS) INCOME - CHANGES IN AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated other comprehensive income (loss) rollforward [Roll Forward]
Beginning Balance	$ 3,812	$ 4,997	$ 4,935
Total other comprehensive loss	(8)	(36)	(130)
Ending Balance	3,294	3,812	4,997
Total
Accumulated other comprehensive income (loss) rollforward [Roll Forward]
Beginning Balance	(628)	(592)	(464)
Other comprehensive income (loss) before reclassifications and tax impact	(77)	27
Tax benefit (expense)	66	(68)
Other comprehensive income (loss), net of tax, before reclassifications	(11)	(41)
Amounts reclassified from accumulated other comprehensive income, net of tax	3	5
Total other comprehensive loss	(8)	(36)	(128)
Ending Balance	(636)	(628)	(592)
Foreign Currency Translation Gain (Loss)
Accumulated other comprehensive income (loss) rollforward [Roll Forward]
Beginning Balance	(522)	(366)
Other comprehensive income (loss) before reclassifications and tax impact	2	(127)
Tax benefit (expense)	47	(29)
Other comprehensive income (loss), net of tax, before reclassifications	49	(156)
Amounts reclassified from accumulated other comprehensive income, net of tax	0	0
Total other comprehensive loss	49	(156)
Ending Balance	(473)	(522)	(366)
Gain (Loss) on Cash Flow Hedges
Accumulated other comprehensive income (loss) rollforward [Roll Forward]
Beginning Balance	(17)	(16)
Other comprehensive income (loss) before reclassifications and tax impact	0	(1)
Tax benefit (expense)	0	0
Other comprehensive income (loss), net of tax, before reclassifications	0	(1)
Amounts reclassified from accumulated other comprehensive income, net of tax	4	0
Total other comprehensive loss	4	(1)
Ending Balance	(13)	(17)	(16)
Gain (Loss) on Net Investment and Fair Value Hedges
Accumulated other comprehensive income (loss) rollforward [Roll Forward]
Beginning Balance	(73)	(103)
Other comprehensive income (loss) before reclassifications and tax impact	(45)	39
Tax benefit (expense)	11	(9)
Other comprehensive income (loss), net of tax, before reclassifications	(34)	30
Amounts reclassified from accumulated other comprehensive income, net of tax	0	0
Total other comprehensive loss	(34)	30
Ending Balance	(107)	(73)	(103)
Pension Liability Gain (Loss)
Accumulated other comprehensive income (loss) rollforward [Roll Forward]
Beginning Balance	(16)	(107)
Other comprehensive income (loss) before reclassifications and tax impact	(34)	116
Tax benefit (expense)	8	(30)
Other comprehensive income (loss), net of tax, before reclassifications	(26)	86
Amounts reclassified from accumulated other comprehensive income, net of tax	(1)	5
Total other comprehensive loss	(27)	91
Ending Balance	$ (43)	$ (16)	$ (107)

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 334	$ 365
Accounts and notes receivable-trade, net	695	632
Inventories, net	624	627
Prepaid expenses and other current assets	320	269
Total Current Assets	1,973	1,893
Property, plant and equipment, net	800	761
Operating lease right-of-use assets, net	178	200
Identifiable intangible assets, net	1,705	1,903
Goodwill, net	2,438	2,688
Other noncurrent assets	276	198
Total Assets	7,370	7,643
Current Liabilities:
Accounts payable	305	279
Accrued liabilities	749	727
Income taxes payable	49	46
Notes payable and current portion of long-term debt	322	118
Total Current Liabilities	1,425	1,170
Long-term debt	1,796	1,826
Operating lease liabilities	125	149
Deferred income taxes	228	287
Other noncurrent liabilities	502	399
Total Liabilities	4,076	3,831
Commitments and contingencies (Note 21)
Equity:
Preferred stock, $1.00 par value; 0.25 million shares authorized; no shares issued	0	0
Common stock, $0.01 par value; 400.0 million shares authorized at December 31, 2023 and 2022 264.5 million shares issued at December 31, 2023 and 2022 215.3 million and 215.3 million shares outstanding at December 31, 2023 and 2022, respectively	3	3
Capital in excess of par value	6,643	6,629
Retained earnings	205	456
Accumulated other comprehensive loss	(636)	(628)
Treasury stock, at cost, 57.3 million and 49.3 million shares at December 31, 2023 and 2022, respectively	(2,922)	(2,649)
Total Dentsply Sirona Equity	3,293	3,811
Noncontrolling interests	1	1
Total Equity	3,294	3,812
Total Liabilities and Equity	$ 7,370	$ 7,643

COMPREHENSIVE (LOSS) INCOME

12 Months Ended

Dec. 31, 2023

Other Comprehensive Income (Loss), Net of Tax [Abstract]

COMPREHENSIVE (LOSS) INCOME

AOCI includes cumulative foreign currency translation adjustments related to consolidation of the Company’s foreign subsidiaries, fair value adjustments related to the Company’s derivative financial instruments, and actuarial gains and losses related to the Company’s pension plans. These changes are recorded in AOCI net of tax. For the years ended December 31, 2023, 2022 and 2021, these tax adjustments were $166 million, $100 million and $168 million, respectively, primarily related to foreign currency translation adjustments.

The cumulative foreign currency translation adjustments included translation losses of $360 million and $438 million at December 31, 2023 and 2022, respectively, and included losses of $113 million and $84 million, at December 31, 2023 and 2022, respectively, on loans designated as hedges of net investments.

Changes in AOCI, net of tax, by component for the years ended December 31, 2023 and 2022 were as follows:


(in millions)	Foreign Currency Translation Gain (Loss)		Gain (Loss) on Cash Flow Hedges		Gain (Loss) on Net Investment and Fair Value Hedges		Pension Liability Gain (Loss)		Total

Balance, net of tax, at December 31, 2022	$	(522)	$	(17)	$	(73)	$	(16)	$	(628)
Other comprehensive income (loss) before reclassifications and tax impact	2		—		(45)		(34)		(77)
Tax benefit	47		—		11		8		66
Other comprehensive income (loss), net of tax, before reclassifications	$	49	$	—	$	(34)	$	(26)	$	(11)
Amounts reclassified from accumulated other comprehensive income, net of tax	—		4		—		(1)		3
Net increase (decrease) in other comprehensive income	49		4		(34)		(27)		(8)

Balance, net of tax, at December 31, 2023	$	(473)	$	(13)	$	(107)	$	(43)	$	(636)


(in millions)	Foreign Currency Translation Gain (Loss)		Gain (Loss) on Cash Flow Hedges		Gain (Loss) on Net Investment and Fair Value Hedges		Pension Liability Gain (Loss)		Total

Balance, net of tax, at December 31, 2021	$	(366)	$	(16)	$	(103)	$	(107)	$	(592)
Other comprehensive (loss) income before reclassifications and tax impact	(127)		(1)		39		116		27
Tax expense	(29)		—		(9)		(30)		(68)
Other comprehensive (loss) income, net of tax, before reclassifications	$	(156)	$	(1)	$	30	$	86	$	(41)
Amounts reclassified from accumulated other comprehensive income, net of tax	—		—		—		5		5
Net (decrease) increase in other comprehensive income	(156)		(1)		30		91		(36)

Balance, net of tax, at December 31, 2022	$	(522)	$	(17)	$	(73)	$	(16)	$	(628)

Reclassification out of AOCI to the Consolidated Statements of Operations for the years ended December 31, 2023, 2022 and 2021 were as follows:



	Amounts Reclassified from AOCI						Affected Line Item in the Consolidated Statements of Operations
	Year Ended December 31,
(in millions)	2023		2022		2021




Gain (Loss) on derivative financial instruments:
Interest rate swaps	$	(3)	$	(3)	$	(4)	Interest expense, net
Foreign exchange forward contracts	(1)		3		(3)		Cost of products sold


Net loss before tax	$	(4)	$	—	$	(7)
Tax impact	—		—		—		(Benefit) provision for income taxes
Net loss after tax	$	(4)	$	—	$	(7)






Amortization of defined benefit pension and other postemployment benefit items:
Amortization of prior service benefits	$	1	$	1	$	1	(a)

Amortization of net actuarial losses	—		(8)		(12)		(a)
Net income (loss) before tax	$	1	$	(7)	$	(11)
Tax impact	—		2		3		(Benefit) provision for income taxes
Net income (loss) after tax	$	1	$	(5)	$	(8)

Total reclassifications for the period	$	(3)	$	(5)	$	(15)

(a) These AOCI components are included in the computation of net periodic benefit cost for the years ended December 31, 2023, 2022 and 2021, respectively.

LEASES - ASSETS AND LIABILITIES (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Assets
Finance leases	$ 1	$ 1
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, plant and equipment, net	Property, plant and equipment, net
Operating leases	$ 178	$ 200
Total right-of-use assets	179	201
Current Liabilities:
Finance leases	$ 0	$ 1
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Notes payable and current portion of long-term debt	Notes payable and current portion of long-term debt
Operating leases	$ 56	$ 54
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued Liabilities, Current	Accrued Liabilities, Current
Noncurrent liabilities
Finance leases	$ 1	$ 1
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term debt	Long-term debt
Operating leases	$ 125	$ 149
Total lease liabilities	$ 182	$ 205
Weighted-average discount rate
Finance leases	4.20%	3.50%
Operating leases	3.90%	3.50%
Weighted-average remaining lease term in years
Finance leases	5 years 2 months 12 days	4 years 1 month 6 days
Operating leases	4 years 6 months	5 years 1 month 6 days

GOODWILL AND INTANGIBLE ASSETS - IDENTIFIABLE DEFINITE-LIVED ASSETS (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangibles, gross carrying amount	$ 3,068	$ 3,018
Accumulated Amortization	(1,815)	(1,570)
Finite-lived intangibles, net carrying amount	1,253	1,448
Indefinite-lived intangibles, carrying amount	452	455
Identifiable intangible assets, gross carrying amount	3,520	3,473
Identifiable intangible assets, net carrying amount	1,705	1,903
Tradenames and trademarks
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangibles, carrying amount	447	450
In-process R&D
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangibles, carrying amount	5	5
Developed technology and patents
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangibles, gross carrying amount	1,697	1,658
Accumulated Amortization	(1,006)	(848)
Finite-lived intangibles, net carrying amount	691	810
Tradenames and trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangibles, gross carrying amount	271	273
Accumulated Amortization	(102)	(96)
Finite-lived intangibles, net carrying amount	169	177
Licensing agreements
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangibles, gross carrying amount	30	30
Accumulated Amortization	(27)	(26)
Finite-lived intangibles, net carrying amount	3	4
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangibles, gross carrying amount	1,070	1,057
Accumulated Amortization	(680)	(600)
Finite-lived intangibles, net carrying amount	$ 390	$ 457

FINANCING ARRANGEMENTS - ADDITIONAL INFORMATION (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	May 12, 2023	May 11, 2023
Debt Instrument [Line Items]
Notes payable and current portion of long-term debt	$ 322,000,000	$ 118,000,000
Total unused lines of credit	499,000,000
Interest expense, net
Debt Instrument [Line Items]
Interest income	16,000,000	11,000,000	$ 3,000,000
Uncommitted Short-Term Financing
Debt Instrument [Line Items]
Notes payable and current portion of long-term debt	44,000,000
Other short-term borrowings
Debt Instrument [Line Items]
Notes payable and current portion of long-term debt	20,000,000	22,000,000
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Long-term debt, term				5 years	5 years
Credit facilities, maximum borrowing capacity				$ 700,000,000	$ 700,000,000
Notes payable and current portion of long-term debt	0	$ 0
Corporate commercial paper facility \| Line of Credit
Debt Instrument [Line Items]
Credit facilities, maximum borrowing capacity	$ 500,000,000

INVENTORIES, NET - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Inventory valuation reserve	$ 107	$ 83

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ (132)	$ (950)	$ 411

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

BENEFIT PLANS - AMOUNTS RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Net actuarial loss	$ 48	$ 12
Net prior service cost	(3)	(4)
Before tax AOCI	45	8
Less: Deferred taxes	9	1
Net of tax AOCI	$ 36	$ 7

BENEFIT PLANS - OTHER CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Net actuarial losses (gains)	$ 37	$ (125)	$ (36)
Amortization	1	(7)	(11)
Total recognized in AOCI	38	(132)	(47)
Total recognized in net periodic benefit cost and AOCI	$ 55	$ (113)	$ (20)

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 113	$ 104
Value-added tax receivable	61	53
Deposits	33	24
Other current assets	113	88
Prepaid expenses and other current assets	$ 320	$ 269

SIGNIFICANT ACCOUNTING POLICIES - SCHEDULE OF WARRANTIES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Warranty Expense	$ 48	$ 27	$ 44
Warranty Accrual	$ 24	$ 22	$ 28

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Reconciliation of Changes in the Company's Goodwill

A reconciliation of changes in the Company’s goodwill by reportable segment were as follows:


(in millions)	Technologies & Equipment		Consumables		Connected Technology Solutions		Essential Dental Solutions		Orthodontic and Implant Solutions		Wellspect Healthcare		Total

Balance at December 31, 2022
Goodwill	5,902		866		$	—	$	—	$	—	$	—	$	6,768
Accumulated impairment losses	(4,080)		—		—		—		—		—		(4,080)
Goodwill, net December 31, 2022	$	1,822	$	866	$	—	$	—	$	—	$	—	$	2,688



Translation	9		4		—		—		—		—		13

Balance at March 31, 2023
Goodwill	$	5,911	$	870	$	—	$	—	$	—	$	—	$	6,781
Accumulated impairment losses	(4,080)		—		—		—		—		—		(4,080)
Goodwill, net March 31, 2023	$	1,831	$	870	$	—	$	—	$	—	$	—	$	2,701

Realignment of goodwill	(1,831)		(870)		293		835		1,303		270		$	—
Translation	—		—		—		1		(5)		6		2
Goodwill, net June 30, 2023	$	—	$	—	$	293	$	836	$	1,298	$	276	$	2,703

Impairment	—		—		(291)		—		—		—		(291)
Translation	—		—		(2)		4		25		(1)		26

Balance at December 31, 2023
Goodwill	$	—	$	—	$	291	$	840	$	1,323	$	275	$	2,729
Accumulated Impairment Losses	—		—		(291)		—		—		—		(291)
Balance at December 31, 2023	$	—	$	—	$	—	$	840	$	1,323	$	275	$	2,438

Schedule of Identifiable Definite-Lived Intangible Assets

Identifiable definite-lived and indefinite-lived intangible assets at were as follows:


	Year Ended December 31,
	2023						2022
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Developed technology and patents	$	1,697	$	(1,006)	$	691	$	1,658	$	(848)	$	810
Tradenames and trademarks	271		(102)		169		273		(96)		177
Licensing agreements	30		(27)		3		30		(26)		4
Customer relationships	1,070		(680)		390		1,057		(600)		457
Total definite-lived	$	3,068	$	(1,815)	$	1,253	$	3,018	$	(1,570)	$	1,448

Indefinite-lived tradenames and trademarks	447		—		447		450		—		450
In-process R&D (a)	5		—		5		5		—		5
Total indefinite-lived	452		—		452		455		—		455

Total identifiable intangible assets	$	3,520	$	(1,815)	$	1,705	$	3,473	$	(1,570)	$	1,903

(a) Intangible assets acquired in a business combination that are in-process and used in R&D activities are considered indefinite-lived until the completion or abandonment of the R&D efforts. The useful life and amortization of those assets will be determined once the R&D efforts are completed.

Schedule of Indefinite-Lived Intangible Assets

Identifiable definite-lived and indefinite-lived intangible assets at were as follows:


	Year Ended December 31,
	2023						2022
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Developed technology and patents	$	1,697	$	(1,006)	$	691	$	1,658	$	(848)	$	810
Tradenames and trademarks	271		(102)		169		273		(96)		177
Licensing agreements	30		(27)		3		30		(26)		4
Customer relationships	1,070		(680)		390		1,057		(600)		457
Total definite-lived	$	3,068	$	(1,815)	$	1,253	$	3,018	$	(1,570)	$	1,448

Indefinite-lived tradenames and trademarks	447		—		447		450		—		450
In-process R&D (a)	5		—		5		5		—		5
Total indefinite-lived	452		—		452		455		—		455

Total identifiable intangible assets	$	3,520	$	(1,815)	$	1,705	$	3,473	$	(1,570)	$	1,903

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Name Accounting Standards Codification
-Section 55
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-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Reconciliations of Changes in the Defined Benefit Obligations, Fair Value of Assets and Statement of Funded Status

Reconciliation of changes in the defined benefit obligations, fair value of assets and statement of funded status were as follows:




	Year Ended December 31,
(in millions)	2023		2022

Change in Benefit Obligation
Benefit obligation at beginning of year	$	440	$	619
Service cost	10		12
Interest cost	14		5
Participant contributions	4		4
Actuarial losses (gains)	38		(149)


Effect of exchange rate changes	26		(35)

Plan curtailments and settlements	—		(1)
Benefits paid	(21)		(15)
Benefit obligation at end of year	$	511	$	440

Change in Plan Assets
Fair value of plan assets at beginning of year	$	182	$	212
Actual return on assets	10		(28)
Plan settlements	—		(1)

Effect of exchange rate changes	17		(5)
Employer contributions	15		15
Participant contributions	4		4
Benefits paid	(21)		(15)
Fair value of plan assets at end of year	$	207	$	182

Funded status at end of year	$	(304)	$	(258)

Schedule of Amounts Recognized in the Accompanying Consolidated Balance Sheets, Net of Tax Effects

The amounts recognized in the accompanying Consolidated Balance Sheets, net of tax effects, were as follows:


	Location In The	Year Ended December 31,
(in millions)	Consolidated Balance Sheets	2023		2022

Other noncurrent assets, net	Other noncurrent assets	$	5	$	9
Deferred tax asset	Other noncurrent assets	11		6
Total assets		$	16	$	15

Current liabilities	Accrued liabilities	$	(11)	$	(10)
Other noncurrent liabilities	Other noncurrent liabilities	(298)		(257)
Deferred tax liability	Deferred income taxes	(2)		(5)
Total liabilities		$	(311)	$	(272)

Accumulated other comprehensive income	Accumulated other comprehensive loss	36		7
Net amount recognized		$	(259)	$	(250)

Schedule of Amounts Recognized in Accumulated Other Comprehensive Income

Amounts recognized in AOCI were as follows:



	Year Ended December 31,
(in millions)	2023		2022

Net actuarial loss	$	48	$	12
Net prior service cost	(3)		(4)
Before tax AOCI	$	45	$	8
Less: Deferred taxes	9		1
Net of tax AOCI	$	36	$	7

Schedule of Information for Pension Plans with an Accumulated Benefit Obligation in Excess of Plan Assets

Information for pension plans with a projected or accumulated benefit obligation in excess of plan assets were as follows:


	Year Ended December 31,
(in millions)	2023		2022

Projected benefit obligation	$	323	$	283
Accumulated benefit obligation	310		272
Fair value of plan assets	15		15

Schedule of Components of Net Periodic Benefit Cost

Components of net periodic benefit cost were as follows:


	Year Ended December 31,						Location in the Consolidated Statements of Operations
(in millions)	2023		2022		2021

Service cost	$	4	$	5	$	7	Cost of products sold
Service cost	6		7		10		Selling, general and administrative expenses
Interest cost	14		5		3		Other expense (income), net
Expected return on plan assets	(6)		(4)		(4)		Other expense (income), net

Amortization of prior service credit	(1)		(1)		(1)		Other expense (income), net
Amortization of net actuarial loss	—		8		12		Other expense (income), net
Acquisitions/Divestitures	—		—		1		Other expense (income), net
Curtailment and settlement gains	—		(1)		(1)		Other expense (income), net

Net periodic benefit cost	$	17	$	19	$	27

Schedule of Other Changes in Plan Assets and Benefit Obligations Recognized in AOCI

Other changes in plan assets and benefit obligations recognized in AOCI were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

Net actuarial losses (gains)	$	37	$	(125)	$	(36)


Amortization	1		(7)		(11)
Total recognized in AOCI	$	38	$	(132)	$	(47)
Total recognized in net periodic benefit cost and AOCI	$	55	$	(113)	$	(20)

Schedule of Weighted Average Assumptions Used to Determine Benefit Obligations, Principally in Foreign Locations

The weighted average assumptions used to determine benefit obligations for the Company’s plans, principally in foreign locations were as follows:


	Year Ended December 31,
	2023		2022		2021

Interest crediting rate	2.3	%	2.5	%	1.3	%
Discount rate	2.6	%	3.2	%	1.1	%
Rate of compensation increase	2.5	%	2.6	%	2.6	%

Schedule of Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost

The weighted average assumptions used to determine net periodic benefit cost for the Company’s plans, principally in foreign locations were as follows:


	Year Ended December 31,
	2023		2022		2021

Interest crediting rate	2.5	%	1.3	%	1.3	%
Discount rate	3.2	%	1.1	%	0.6	%
Expected return on plan assets	3.2	%	2.2	%	2.2	%
Rate of compensation increase	2.6	%	2.6	%	2.4	%
Measurement date	12/31/2023		12/31/2022		12/31/2021

Schedule of Fair Value Measurements of Plan Assets

The fair value of the Company’s pension plan assets at December 31, 2023 and 2022 are presented in the table below by asset category. Approximately 84% of the total plan assets are categorized as Level 1, as the values assigned to these pension assets are based on quoted prices available in active markets. For the other category levels, a description of the valuation is provided in Note 1, Significant Accounting Policies, under the “Fair Value Measurement” heading.


	December 31, 2023
(in millions)	Total		Level 1		Level 2		Level 3

Assets Category
Cash and cash equivalents	$	7	$	7	$	—	$	—
Equity securities:

International	63		63		—		—
Fixed income securities:
Fixed rate bonds (a)	84		84		—		—
Other types of investments:
Mutual funds (b)	19		19		—		—


Insurance contracts	26		—		—		26
Hedge funds	7		—		—		7
Real estate	1		—		—		1
Total	$	207	$	173	$	—	$	34


	December 31, 2022
(in millions)	Total		Level 1		Level 2		Level 3

Assets Category
Cash and cash equivalents	$	15	$	15	$	—	$	—
Equity securities:

International	49		49		—		—
Fixed income securities:
Fixed rate bonds (a)	67		67		—		—
Other types of investments:
Mutual funds (b)	17		17		—		—


Insurance contracts	24		—		—		24
Hedge funds	9		—		—		9
Real estate	1		—		—		1
Total	$	182	$	148	$	—	$	34

(a) This category includes fixed income securities invested primarily in Swiss bonds, foreign bonds denominated in Swiss francs, foreign currency bonds, mortgage notes and pledged letters.

(b) This category includes mutual funds balanced between moderate-income generation and moderate capital appreciation with investment allocations of approximately 50% equities and 50% fixed income investments.

Schedule of Reconciliation for the Plans Assets Categorized as Level 3

A reconciliation from December 31, 2021 to December 31, 2023 for the plan assets categorized as Level 3 were as follows:


(in millions)	Insurance Contracts		Hedge Funds		Real Estate		Total

Balance at December 31, 2021	$	34	$	11	$	1	$	46
Actual return on plan assets:
Relating to assets still held at the reporting date	(5)		(1)		—		(6)


Purchases, sales and settlements, net	(2)		(1)		—		(3)

Effect of exchange rate changes	(3)		—		—		(3)
Balance at December 31, 2022	$	24	$	9	$	1	$	34
Actual return on plan assets:
Relating to assets still held at the reporting date	$	2	$	—	$	—	$	2


Purchases, sales and settlements, net	(1)		(3)		—		(4)

Effect of exchange rate changes	1		1		—		2
Balance at December 31, 2023	$	26	$	7	$	1	$	34

Schedule of Estimated Future Benefit Payments

Estimated Future Benefit Payments

Total benefits expected to be paid from the plans in the future are as follows:


(in millions)	Pension Benefits

2024	$	26
2025	27
2026	26
2027	27
2028	24
2029-2033	124

GOODWILL AND INTANGIBLE ASSETS - ADDITIONAL INFORMATION (Details) $ in Millions	3 Months Ended			6 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) yr	Sep. 30, 2022 USD ($) yr reporting_unit	Jun. 30, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Goodwill [Line Items]
Underlying market interest rate increase	0.0110
Goodwill impairment				$ 291	$ 291	$ 1,187	$ 0
Indefinite-lived intangible asset impairment					16	100	0
Indefinite-lived intangibles, carrying amount				452	452	455
Number of reporting units \| reporting_unit		2
Amortization of intangible assets					211	209	$ 222
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2024				212	212
2025				219	219
2026				143	143
2027				124	124
2028				128	128
Connected Technology Solutions
Goodwill [Line Items]
Goodwill impairment	$ 291			291
Indefinite-lived intangible asset impairment	14
Indefinite-lived intangibles, carrying amount				215	215
Orthodontic and Implant Solutions
Goodwill [Line Items]
Goodwill impairment				0
Indefinite-lived intangible asset impairment	$ 2
Indefinite-lived intangibles, carrying amount				23	23
Essential Dental Solutions
Goodwill [Line Items]
Goodwill impairment				0
Developed technology
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Payments to acquire intangible assets			$ 3
Asset acquisition, contingent consideration, liability						17
Tradenames and trademarks
Goodwill [Line Items]
Indefinite-lived intangibles, carrying amount				$ 447	$ 447	$ 450
Digital Dental Group
Goodwill [Line Items]
Goodwill impairment		$ 1,100
Indefinite-lived intangible asset impairment		66
Equipment & Instruments
Goodwill [Line Items]
Goodwill impairment		87
Indefinite-lived intangible asset impairment		28
Consumables
Goodwill [Line Items]
Indefinite-lived intangible asset impairment		$ 6
Measurement Input, Perpetual Growth Rate
Goodwill [Line Items]
Goodwill, measurement input \| yr	10
Measurement Input, Discount Rate
Goodwill [Line Items]
Goodwill, measurement input	0.115	0.110
Minimum \| Measurement Input, Discount Rate
Goodwill [Line Items]
Discount rate	0.115	0.110
Minimum \| Measurement Input Perpetual Growth Rate Member
Goodwill [Line Items]
Goodwill, measurement input \| yr		5
Maximum \| Measurement Input, Discount Rate
Goodwill [Line Items]
Discount rate	0.165	0.125
Maximum \| Measurement Input Perpetual Growth Rate Member
Goodwill [Line Items]
Goodwill, measurement input \| yr		10

INCOME TAXES - THE TAX EFFECT OF SIGNIFICANT TEMPORARY DIFFERENCES GIVING RISE TO DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets
Employee benefit accruals	$ 55	$ 55
Inventory	15	9
Miscellaneous accruals	51	37
Other	44	48
Lease right-of-use liability	46	48
Net unrealized gains/losses included in AOCI	36	0
Foreign tax credit and R&D carryforward	43	40
Tax loss carryforwards and other tax attributes	948	654
Total deferred tax assets	1,238	891
Less: Valuation allowances	(863)	(645)
Total deferred tax assets, net	375	246
Deferred tax liabilities
Identifiable intangible assets	(298)	(325)
Property, plant and equipment	(38)	(41)
Lease right-of-use asset	(46)	(47)
Net unrealized gains/losses included in AOCI	0	(13)
Taxes on unremitted earnings of foreign subsidiaries	(8)	(6)
Total deferred tax liabilities	(390)	(432)
Net deferred tax liabilities	$ (15)	$ (186)

SIGNIFICANT ACCOUNTING POLICIES - ADDITIONAL INFORMATION (Details) $ in Millions			12 Months Ended
	Dec. 07, 2023 USD ($)	Dec. 06, 2023 USD ($)	Dec. 31, 2023 USD ($) yr country segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Significant Accounting Policies [Line Items]
Company years in innovation and service \| yr			137
Number of countries in which entity operates \| country			150
Cash and cash equivalents			$ 334	$ 365
Foreign currency translation gain (loss)			49	(156)	$ (181)
Stockholders' equity			3,294	3,812	4,997	$ 4,935
Foreign exchange transaction gain (loss)			3	(6)	12
Transaction related costs			0	0	8
Sale of minority interest	$ 13
Equity-method net losses		$ 4	$ 4	36	10
Number of reportable segments \| segment			4
Employee Stock Option
Significant Accounting Policies [Line Items]
Award expiration period			10 years
Restricted Stock Units (RSUs)
Significant Accounting Policies [Line Items]
Exercisable period following death, disability or qualified retirement			1 year
Hedges of Net Investments
Significant Accounting Policies [Line Items]
Foreign currency translation gain (loss)			$ 78	(188)	(225)
Stockholders' equity			$ (29)	$ 32	$ 46
Minimum
Significant Accounting Policies [Line Items]
Lease, remaining lease term			1 year
Lessee, lease, renewal term			1 year
Maximum
Significant Accounting Policies [Line Items]
Lease, remaining lease term			9 years
Lessee, lease, renewal term			3 years
RUSSIAN FEDERATION
Significant Accounting Policies [Line Items]
Cash and cash equivalents			$ 42

ACCRUED LIABILITIES (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Payroll, commissions, bonuses, other cash compensation and employee benefits	$ 161	$ 156
Sales and marketing programs	68	65
Reserve for distributor rebates	151	163
Restructuring costs	37	7
Accrued vacation and holidays	32	32
Professional and legal costs	25	27
Current portion of derivatives	18	19
General insurance	11	12
Warranty liabilities	24	22
Third party royalties	5	7
Deferred income	91	84
Accrued interest	9	9
Accrued property taxes	6	6
Current operating lease liabilities	56	54
Other	55	64
Accrued liabilities	$ 749	$ 727

COMPREHENSIVE (LOSS) INCOME - RECLASSIFICATION OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (EXPENSE) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of products sold	$ 1,879	$ 1,795	$ 1,884
Net loss before tax	(175)	(1,055)	545
(Benefit) provision for income taxes	43	105	(134)
Net (loss) income	(132)	(950)	411
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Net (loss) income	(3)	(5)	(15)
Reclassification out of Accumulated Other Comprehensive Income \| Gain (Loss) on Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Net loss before tax	(4)	0	(7)
(Benefit) provision for income taxes	0	0	0
Net (loss) income	(4)	0	(7)
Reclassification out of Accumulated Other Comprehensive Income \| Pension Liability Gain (Loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Net loss before tax	1	(7)	(11)
(Benefit) provision for income taxes	0	2	3
Net (loss) income	1	(5)	(8)
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of prior service benefits
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Net loss before tax	1	1	1
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of net actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Net loss before tax	0	(8)	(12)
Interest rate swaps \| Reclassification out of Accumulated Other Comprehensive Income \| Gain (Loss) on Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest expense, net	(3)	(3)	(4)
Foreign exchange forward contracts \| Reclassification out of Accumulated Other Comprehensive Income \| Gain (Loss) on Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of products sold	$ (1)	$ 3	$ (3)

FAIR VALUE MEASUREMENT - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Floating rate senior term loan	$ 1,909
Estimate of Fair Value, Fair Value Disclosure
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Floating rate senior term loan	2,018	$ 1,944
Carrying (Reported) Amount, Fair Value Disclosure
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Floating rate senior term loan	$ 2,118	$ 1,769

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

EQUITY - TOTAL OUTSTANDING SHARES (Details) - $ / shares shares in Millions		2 Months Ended	12 Months Ended
	Apr. 28, 2023	Apr. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares of common stock, beginning balance (in shares)			215.2	217.4	218.7
Shares of Treasury Stock, beginning balance (in shares)			(49.3)
Shares of treasury stock issued (in shares)			0.8	0.9	2.2
Repurchase of common stock (in shares)	(3.9)	(3.9)	(8.8)	(3.1)	(3.5)
Shares of common stock, ending balance (in shares)			207.2	215.2	217.4
Shares of Treasury Stock, ending balance (in shares)			(57.3)	(49.3)
Stock repurchased under the repurchase program, average price (in dollars per share)			$ 34.20	$ 48.22	$ 57.47
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares of common stock, beginning balance (in shares)			264.5	264.5	264.5
Shares of common stock, ending balance (in shares)			264.5	264.5	264.5
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares of Treasury Stock, beginning balance (in shares)			(49.3)	(47.1)	(45.8)
Shares of treasury stock issued (in shares)			0.8	0.9	2.2
Repurchase of common stock (in shares)			(8.8)	(3.1)	(3.5)
Shares of Treasury Stock, ending balance (in shares)			(57.3)	(49.3)	(47.1)

RESTRUCTURING AND OTHER COSTS - RESTRUCTURING ACCRUALS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restructuring Reserve
Beginning balance	$ 8	$ 18
Provisions and adjustments	74	16
Amounts applied	(38)	(21)
Change in estimates	(4)	(5)
Ending balance	40	8
Severance
Restructuring Reserve
Beginning balance	7	14
Provisions and adjustments	64	11
Amounts applied	(29)	(14)
Change in estimates	(3)	(4)
Ending balance	39	7
Severance \| 2020 and Prior Plans
Restructuring Reserve
Beginning balance	1	5
Provisions and adjustments		1
Amounts applied		(3)
Change in estimates		(2)
Ending balance		1
Severance \| 2021 and Prior Plans
Restructuring Reserve
Beginning balance	4
Provisions and adjustments	0
Amounts applied	(2)
Change in estimates	0
Ending balance	2	4
Severance \| 2021 Plans
Restructuring Reserve
Beginning balance	3	9
Provisions and adjustments		1
Amounts applied		(6)
Change in estimates		(1)
Ending balance		3
Severance \| 2022 Plans
Restructuring Reserve
Beginning balance	3	0
Provisions and adjustments	2	9
Amounts applied	(3)	(5)
Change in estimates	(2)	(1)
Ending balance	0	3
Severance \| 2023 Plans
Restructuring Reserve
Beginning balance	0
Provisions and adjustments	62
Amounts applied	(24)
Change in estimates	(1)
Ending balance	37	0
Other Restructuring Costs
Restructuring Reserve
Beginning balance	1	4
Provisions and adjustments	10	5
Amounts applied	(9)	(7)
Change in estimates	(1)	(1)
Ending balance	1	1
Other Restructuring Costs \| 2020 and Prior Plans
Restructuring Reserve
Beginning balance	0	4
Provisions and adjustments		1
Amounts applied		(4)
Change in estimates		(1)
Ending balance		0
Other Restructuring Costs \| 2021 and Prior Plans
Restructuring Reserve
Beginning balance	0
Provisions and adjustments	1
Amounts applied	(1)
Change in estimates	0
Ending balance	0	0
Other Restructuring Costs \| 2021 Plans
Restructuring Reserve
Beginning balance	0	0
Provisions and adjustments		2
Amounts applied		(2)
Change in estimates		0
Ending balance		0
Other Restructuring Costs \| 2022 Plans
Restructuring Reserve
Beginning balance	1	0
Provisions and adjustments	0	2
Amounts applied	0	(1)
Change in estimates	0	0
Ending balance	1	1
Other Restructuring Costs \| 2023 Plans
Restructuring Reserve
Beginning balance	0
Provisions and adjustments	9
Amounts applied	(8)
Change in estimates	(1)
Ending balance	$ 0	$ 0

FINANCING ARRANGEMENTS - LONG TERM BORROWINGS (Details)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 CHF (SFr)	Dec. 31, 2023 JPY (¥)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Principal balance	$ 1,909,000,000
Hedge accounting fair value adjustment	(28,000,000)				$ (35,000,000)
Long-term debt, net of hedging activities	1,881,000,000				1,836,000,000
Less: Current portion (included in notes payable and current portion of long-term debt)	77,000,000				1,000,000
Less: Long-term portion of deferred financing costs	8,000,000				9,000,000
Long-term debt	1,796,000,000				1,826,000,000
Private Placement Notes \| Private placement notes 70 million euros due October 2024
Debt Instrument [Line Items]
Debt instrument face amount \| €		€ 70,000,000
Principal balance	$ 77,000,000				$ 75,000,000
Debt, fixed rate	1.00%	1.00%	1.00%	1.00%	1.00%
Private Placement Notes \| Private placement notes 25 million Swiss franc due December 2025
Debt Instrument [Line Items]
Debt instrument face amount \| SFr			SFr 25,000,000
Principal balance	$ 30,000,000				$ 27,000,000
Debt, fixed rate	0.90%	0.90%	0.90%	0.90%	0.90%
Private Placement Notes \| Private placement notes 97 million euros due December 2025
Debt Instrument [Line Items]
Debt instrument face amount \| €		€ 97,000,000
Principal balance	$ 107,000,000				$ 104,000,000
Debt, fixed rate	2.10%	2.10%	2.10%	2.10%	2.10%
Private Placement Notes \| Private placement notes 26 million euros due February 2026
Debt Instrument [Line Items]
Debt instrument face amount \| €		€ 26,000,000
Principal balance	$ 29,000,000				$ 28,000,000
Debt, fixed rate	2.10%	2.10%	2.10%	2.10%	2.10%
Private Placement Notes \| Private placement notes 58 million Swiss franc due August 2026
Debt Instrument [Line Items]
Debt instrument face amount \| SFr			SFr 58,000,000
Principal balance	$ 69,000,000				$ 63,000,000
Debt, fixed rate	1.00%	1.00%	1.00%	1.00%	1.00%
Private Placement Notes \| Private placement notes 106 million euros due August 2026
Debt Instrument [Line Items]
Debt instrument face amount \| €		€ 106,000,000
Principal balance	$ 117,000,000				$ 114,000,000
Debt, fixed rate	2.30%	2.30%	2.30%	2.30%	2.30%
Private Placement Notes \| Private placement notes 70 million euros due October 2027
Debt Instrument [Line Items]
Debt instrument face amount \| €		€ 70,000,000
Principal balance	$ 77,000,000				$ 75,000,000
Debt, fixed rate	1.30%	1.30%	1.30%	1.30%	1.30%
Private Placement Notes \| Private placement notes 8 million Swiss franc due December 2027
Debt Instrument [Line Items]
Debt instrument face amount \| SFr			SFr 8,000,000
Principal balance	$ 9,000,000				$ 8,000,000
Debt, fixed rate	1.00%	1.00%	1.00%	1.00%	1.00%
Private Placement Notes \| Private placement notes 15 million euros due December 2027
Debt Instrument [Line Items]
Debt instrument face amount \| €		€ 15,000,000
Principal balance	$ 17,000,000				$ 16,000,000
Debt, fixed rate	2.20%	2.20%	2.20%	2.20%	2.20%
Private Placement Notes \| Private placement notes 140 million Swiss franc due August 2028
Debt Instrument [Line Items]
Debt instrument face amount \| SFr			SFr 140,000,000
Principal balance	$ 166,000,000				$ 151,000,000
Debt, fixed rate	1.20%	1.20%	1.20%	1.20%	1.20%
Private Placement Notes \| Private placement notes 70 million euros due October 2029
Debt Instrument [Line Items]
Debt instrument face amount \| €		€ 70,000,000
Principal balance	$ 77,000,000				$ 75,000,000
Debt, fixed rate	1.50%	1.50%	1.50%	1.50%	1.50%
Private Placement Notes \| Private placement notes 70 million euros due October 2030
Debt Instrument [Line Items]
Debt instrument face amount \| €		€ 70,000,000
Principal balance	$ 77,000,000				$ 75,000,000
Debt, fixed rate	1.60%	1.60%	1.60%	1.60%	1.60%
Private Placement Notes \| Private placement notes 45 million euros due February 2031
Debt Instrument [Line Items]
Debt instrument face amount \| €		€ 45,000,000
Principal balance	$ 50,000,000				$ 48,000,000
Debt, fixed rate	2.50%	2.50%	2.50%	2.50%	2.50%
Private Placement Notes \| Private placement notes 65 million Swiss franc due August 2031
Debt Instrument [Line Items]
Debt instrument face amount \| SFr			SFr 65,000,000
Principal balance	$ 77,000,000				$ 70,000,000
Debt, fixed rate	1.30%	1.30%	1.30%	1.30%	1.30%
Private Placement Notes \| Private placement notes 12.6 billion Japanese yen due September 2031
Debt Instrument [Line Items]
Debt instrument face amount \| ¥				¥ 12,600,000,000
Principal balance	$ 89,000,000				$ 96,000,000
Debt, fixed rate	1.00%	1.00%	1.00%	1.00%	1.00%
Private Placement Notes \| Private placement notes 70 million euros due October 2031
Debt Instrument [Line Items]
Debt instrument face amount \| €		€ 70,000,000
Principal balance	$ 77,000,000				$ 75,000,000
Debt, fixed rate	1.70%	1.70%	1.70%	1.70%	1.70%
Senior Notes \| Fixed rate senior notes 750 million due June 2030
Debt Instrument [Line Items]
Debt instrument face amount	$ 750,000,000
Principal balance	$ 750,000,000				$ 750,000,000
Debt, fixed rate	3.30%	3.30%	3.30%	3.30%	3.30%
Other borrowings, various currencies and rates
Debt Instrument [Line Items]
Principal balance	$ 14,000,000				$ 21,000,000

STOCK COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Compensation Expense recorded in Consolidated Statements of Operations

The amounts of stock compensation expense recorded in the Company’s Consolidated Statements of Operations for the years ended December 31, 2023, 2022 and 2021 were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

Cost of products sold	$	4	$	3	$	3
Selling, general, and administrative expense	36		53		44
Research and development expense	4		3		2
Restructuring and other costs	2		—		—
Total stock based compensation expense	$	46	$	59	$	49

Related deferred income tax benefit	$	8	$	7	$	6

Schedule of Assumptions Used to Determine Compensation Cost for the Company's Non-qualified Stock Options Issued

The Company uses the Black-Scholes option-pricing model to estimate the fair value of each option awarded. The average assumptions used to determine compensation cost for the Company’s NQSOs issued were as follows:


	Year Ended December 31,
	2023			2022			2021

Weighted average fair value per share	$	12.64		$	14.06		$	15.90
Expected dividend yield	1.45		%	1.09		%	0.68		%
Risk-free interest rate	4.27		%	2.23		%	0.79		%
Expected volatility	35.8		%	32.7		%	31.5		%
Expected life (years)	4.76			5.20			5.08

Schedule of Non-qualified Stock Option Transactions

The NQSO transactions for the year ended December 31, 2023 were as follows:


	Outstanding					Exercisable					Expected to Vest
(in millions, except per share amounts)	Shares	Weighted Average Exercise Price		Aggregate Intrinsic Value		Shares	Weighted Average Exercise Price		Aggregate Intrinsic Value		Shares	Weighted Average Exercise Price		Aggregate Intrinsic Value

December 31, 2022	3.0	$	51.64	$	—	1.9	$	52.43	$	—	1.1	$	50.21	$	—
Granted	0.7	38.67

Exercised	—	39.77
Cancelled	(0.7)	51.08
Forfeited	(0.4)	52.10
December 31, 2023	2.6	$	48.11	$	1	1.6	$	52.55	$	—	1.0	$	41.41	$	1

Schedule of Information about Non-qualified Stock Options Outstanding

Information about NQSOs outstanding for the year ended December 31, 2023 were as follows:


			Outstanding				Exercisable
			Number Outstanding at December 31, 2023	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Number Exercisable at December 31, 2023	Weighted Average Exercise Price
Range of Exercise Prices
(in millions, except per share amounts and life)




30.01	-	40.00	0.8	9.1	$	37.13	—	$	30.97
40.01	-	50.00	0.6	3.7	47.32		0.6	47.50
50.01	-	60.00	0.9	4.7	55.29		0.7	55.44
60.01	-	70.00	0.3	2.5	62.33		0.3	62.29
			2.6				1.6

Schedule of the Unvested RSU Transactions

The unvested RSU transactions for the year ended December 31, 2023 were as follows:


	Unvested Restricted Stock Units
	Shares	Weighted Average Grant Date Fair Value

(in millions, except per share amounts)

Unvested at December 31, 2022	4.4	$	45.63
Granted	1.7	40.91

Vested	(0.8)	40.04
Forfeited	(1.7)	49.19
Unvested at December 31, 2023	3.6	$	42.95

REVENUE - NET SALES DISAGGREGATED BY PRODUCT CATEGORY (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 3,965	$ 3,922	$ 4,231
Connected Technology Solutions
Disaggregation of Revenue [Line Items]
Net sales	1,169	1,219	1,348
Essential Dental Solutions
Disaggregation of Revenue [Line Items]
Net sales	1,468	1,427	1,516
Orthodontic and Implant Solutions
Disaggregation of Revenue [Line Items]
Net sales	1,040	1,006	1,064
Wellspect Healthcare
Disaggregation of Revenue [Line Items]
Net sales	288	270	303
Equipment & Instruments \| Connected Technology Solutions
Disaggregation of Revenue [Line Items]
Net sales	628	678	728
CAD/CAM \| Connected Technology Solutions
Disaggregation of Revenue [Line Items]
Net sales	541	541	620
Orthodontics \| Orthodontic and Implant Solutions
Disaggregation of Revenue [Line Items]
Net sales	339	297	273
Implants & Prosthetics \| Orthodontic and Implant Solutions
Disaggregation of Revenue [Line Items]
Net sales	$ 701	$ 709	$ 791

RESTRUCTURING AND OTHER COSTS - TOTAL RESTRUCTURING COSTS (Details) - Restructuring and other costs - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Total Restructuring and other costs	$ 74	$ 14	$ 20
Cost of products sold
Restructuring Cost and Reserve [Line Items]
Total Restructuring and other costs	4	0	(3)
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Total Restructuring and other costs	3	0	6
Restructuring and other costs
Restructuring Cost and Reserve [Line Items]
Total Restructuring and other costs	$ 67	$ 14	$ 17

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

FINANCIAL INSTRUMENTS AND DERIVATIVES - DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Cost of products sold	$ 1,879	$ 1,795	$ 1,884
Interest expense, net	81	65	61
Other expense (income), net	9	53	2
Cross currency basis swaps \| (Gain) loss on Hedges of Net Investment \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on Cash Flow Hedges	0	0	0
Cross currency basis swaps \| (Gain) loss on Hedges of Net Investment \| Designated as Hedging Instrument \| Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on hedges of net investment and fair value hedges	0	0	0
Cross currency basis swaps \| (Gain) loss on Hedges of Net Investment \| Designated as Hedging Instrument \| Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on hedges of net investment and fair value hedges	0	0	0
Cross currency basis swaps \| (Gain) loss on Hedges of Net Investment \| Designated as Hedging Instrument \| Other (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on hedges of net investment and fair value hedges	(5)	(5)	(6)
Foreign exchange forward contracts \| (Gain) loss on Cash Flow Hedges \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on Cash Flow Hedges	(1)	3	(3)
Foreign exchange forward contracts \| (Gain) loss on Cash Flow Hedges \| Designated as Hedging Instrument \| Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on Cash Flow Hedges	1	(3)	1
Foreign exchange forward contracts \| (Gain) loss on Cash Flow Hedges \| Designated as Hedging Instrument \| Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on Cash Flow Hedges	0	0	0
Foreign exchange forward contracts \| (Gain) loss on Cash Flow Hedges \| Designated as Hedging Instrument \| Other (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on Cash Flow Hedges	0	0	0
Foreign exchange forward contracts \| (Gain) loss on Hedges of Net Investment \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on Cash Flow Hedges	0	0	0
Foreign exchange forward contracts \| (Gain) loss on Hedges of Net Investment \| Designated as Hedging Instrument \| Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on hedges of net investment and fair value hedges	0	0	0
Foreign exchange forward contracts \| (Gain) loss on Hedges of Net Investment \| Designated as Hedging Instrument \| Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on hedges of net investment and fair value hedges	0	0	0
Foreign exchange forward contracts \| (Gain) loss on Hedges of Net Investment \| Designated as Hedging Instrument \| Other (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on hedges of net investment and fair value hedges	(12)	(2)	(1)
Foreign exchange forward contracts \| (Gain) loss on Fair Value Hedges: \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on Cash Flow Hedges	0	0	0
Foreign exchange forward contracts \| (Gain) loss on Fair Value Hedges: \| Designated as Hedging Instrument \| Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on hedges of net investment and fair value hedges	0	0	0
Foreign exchange forward contracts \| (Gain) loss on Fair Value Hedges: \| Designated as Hedging Instrument \| Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on hedges of net investment and fair value hedges	0	0	0
Foreign exchange forward contracts \| (Gain) loss on Fair Value Hedges: \| Designated as Hedging Instrument \| Other (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on hedges of net investment and fair value hedges	0	(27)	(24)
Foreign exchange forward contracts \| (Gain) loss on Fair Value Hedges: \| Not Designated as Hedging Instrument \| Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on hedges of net investment and fair value hedges	0	0	0
Foreign exchange forward contracts \| (Gain) loss on Fair Value Hedges: \| Not Designated as Hedging Instrument \| Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on hedges of net investment and fair value hedges	0	0	0
Foreign exchange forward contracts \| (Gain) loss on Fair Value Hedges: \| Not Designated as Hedging Instrument \| Other (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on hedges of net investment and fair value hedges	8	(4)	9
Interest rate swaps \| (Gain) loss on Cash Flow Hedges \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on Cash Flow Hedges	(3)	(3)	(4)
Interest rate swaps \| (Gain) loss on Cash Flow Hedges \| Designated as Hedging Instrument \| Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on Cash Flow Hedges	0	0	0
Interest rate swaps \| (Gain) loss on Cash Flow Hedges \| Designated as Hedging Instrument \| Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on Cash Flow Hedges	3	3	4
Interest rate swaps \| (Gain) loss on Cash Flow Hedges \| Designated as Hedging Instrument \| Other (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on Cash Flow Hedges	0	0	0
Interest rate swaps \| (Gain) loss on Fair Value Hedges: \| Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on Cash Flow Hedges	0	0	0
Interest rate swaps \| (Gain) loss on Fair Value Hedges: \| Designated as Hedging Instrument \| Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on hedges of net investment and fair value hedges	0	0	0
Interest rate swaps \| (Gain) loss on Fair Value Hedges: \| Designated as Hedging Instrument \| Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on hedges of net investment and fair value hedges	11	1	(1)
Interest rate swaps \| (Gain) loss on Fair Value Hedges: \| Designated as Hedging Instrument \| Other (income) expense, net
Derivative Instruments, Gain (Loss) [Line Items]
(Gain) loss on hedges of net investment and fair value hedges	$ 0	$ 0	$ 0

BENEFIT PLANS - RECONCILIATION FOR THE PLAN ASSETS CATEGORIZED AS LEVEL 3 (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Change in Plan Assets. Level 3 [Roll Forward]
Fair value of plan assets at beginning of year	$ 182	$ 212
Actual return on plan assets:
Effect of exchange rate changes	17	(5)
Fair value of plan assets at end of year	207	182
Insurance contracts
Change in Plan Assets. Level 3 [Roll Forward]
Fair value of plan assets at beginning of year	24
Actual return on plan assets:
Fair value of plan assets at end of year	26	24
Hedge funds
Change in Plan Assets. Level 3 [Roll Forward]
Fair value of plan assets at beginning of year	9
Actual return on plan assets:
Fair value of plan assets at end of year	7	9
Real Estate
Change in Plan Assets. Level 3 [Roll Forward]
Fair value of plan assets at beginning of year	1
Actual return on plan assets:
Fair value of plan assets at end of year	1	1
Level 3
Change in Plan Assets. Level 3 [Roll Forward]
Fair value of plan assets at beginning of year	34	46
Actual return on plan assets:
Relating to assets still held at the reporting date	2	(6)
Purchases, sales and settlements, net	(4)	(3)
Effect of exchange rate changes	2	(3)
Fair value of plan assets at end of year	34	34
Level 3 \| Insurance contracts
Change in Plan Assets. Level 3 [Roll Forward]
Fair value of plan assets at beginning of year	24	34
Actual return on plan assets:
Relating to assets still held at the reporting date	2	(5)
Purchases, sales and settlements, net	(1)	(2)
Effect of exchange rate changes	1	(3)
Fair value of plan assets at end of year	26	24
Level 3 \| Hedge funds
Change in Plan Assets. Level 3 [Roll Forward]
Fair value of plan assets at beginning of year	9	11
Actual return on plan assets:
Relating to assets still held at the reporting date	0	(1)
Purchases, sales and settlements, net	(3)	(1)
Effect of exchange rate changes	1	0
Fair value of plan assets at end of year	7	9
Level 3 \| Real Estate
Change in Plan Assets. Level 3 [Roll Forward]
Fair value of plan assets at beginning of year	1	1
Actual return on plan assets:
Relating to assets still held at the reporting date	0	0
Purchases, sales and settlements, net	0	0
Effect of exchange rate changes	0	0
Fair value of plan assets at end of year	$ 1	$ 1

SIGNIFICANT ACCOUNTING POLICIES - SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT (Details)	Dec. 31, 2023
Buildings
Property, Plant and Equipment [Line Items]
Useful life (in years)	40 years
Minimum \| Machinery and Equipment
Property, Plant and Equipment [Line Items]
Useful life (in years)	4 years
Minimum \| Capitalized Software
Property, Plant and Equipment [Line Items]
Useful life (in years)	2 years
Maximum \| Machinery and Equipment
Property, Plant and Equipment [Line Items]
Useful life (in years)	15 years
Maximum \| Capitalized Software
Property, Plant and Equipment [Line Items]
Useful life (in years)	10 years

FAIR VALUE MEASUREMENT (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities measured at Fair Value on a Recurring Basis

The Company’s financial assets and liabilities set forth by level within the fair value hierarchy that were accounted for at fair value on a recurring basis were as follows:


	Year Ended December 31, 2023
(in millions)	Total		Level 1		Level 2		Level 3

Assets



Cross currency interest rate swaps	$	8	$	—	$	8	$	—
Foreign exchange forward contracts	8		—		8		—

Total assets	$	16	$	—	$	16	$	—

Liabilities
Interest rate swaps	$	28	$	—	$	28	$	—


Foreign exchange forward contracts	56		—		56		—

Contingent considerations on acquisitions	4		—		—		4

Total liabilities	$	88	$	—	$	84	$	4


	Year Ended December 31, 2022
(in millions)	Total		Level 1		Level 2		Level 3

Assets



Cross currency interest rate swaps	$	26	$	—	$	26	$	—
Foreign exchange forward contracts	38		—		38		—


Total assets	$	64	$	—	$	64	$	—

Liabilities
Interest rate swaps	$	34	$	—	$	34	$	—


Foreign exchange forward contracts	12		—		12		—

Contingent considerations on acquisitions	4		—		—		4

Total liabilities	$	50	$	—	$	46	$	4

Schedule of Reconciliation of the Company's Assets Measured at Fair Value on a Recurring Basis Using Unobservable Inputs (Level 3)

The following table presents a reconciliation of the Company’s Level 3 holdings measured at fair value on a recurring basis using unobservable inputs:



(in millions)	Level 3

Balance, December 31, 2021	$	10


Payments	(6)

Balance, December 31, 2022	$	4


Payments	—

Balance, December 31, 2023	$	4

BENEFIT PLANS - FAIR VALUE MEASUREMENTS OF PLAN ASSETS (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 207	$ 182	$ 212
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets	7	15
Equity securities, International
Defined Benefit Plan Disclosure [Line Items]
Plan assets	63	49
Fixed income securities, Fixed rate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	84	67
Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	19	17
Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Plan assets	26	24
Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	7	9
Real Estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 1	1
Equity \| Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Percentage of investments	50.00%
Fixed Income Investments \| Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Percentage of investments	50.00%
Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 173	148
Level 1 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets	7	15
Level 1 \| Equity securities, International
Defined Benefit Plan Disclosure [Line Items]
Plan assets	63	49
Level 1 \| Fixed income securities, Fixed rate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	84	67
Level 1 \| Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	19	17
Level 1 \| Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Level 1 \| Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Level 1 \| Real Estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Level 2 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Level 2 \| Equity securities, International
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Level 2 \| Fixed income securities, Fixed rate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Level 2 \| Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Level 2 \| Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Level 2 \| Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Level 2 \| Real Estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets	34	34	46
Level 3 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Level 3 \| Equity securities, International
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Level 3 \| Fixed income securities, Fixed rate bonds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Level 3 \| Mutual funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	0	0
Level 3 \| Insurance contracts
Defined Benefit Plan Disclosure [Line Items]
Plan assets	26	24	34
Level 3 \| Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	7	9	11
Level 3 \| Real Estate
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 1	$ 1	$ 1

SEGMENT AND GEOGRAPHIC INFORMATION

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

SEGMENT AND GEOGRAPHIC INFORMATION

Effective April 1, 2023 the Company realigned its reporting structure due to certain organizational changes. The Company realigned its reportable segments to reflect changes in how the Company manages its operations, specifically the level at which its chief operating decision maker (“CODM”) regularly reviews operating results and allocates resources. As a result, the reportable segments changed from Technology & Equipment and Consumables to (i) Connected Technology Solutions, (ii) Essential Dental Solutions, (iii) Orthodontic and Implant Solutions, and (iv) Wellspect Healthcare.

The Company has four operating segments that are organized primarily by product. They generally have overlapping geographical presence, customer bases, distribution channels, and regulatory oversight with the exception of Wellspect Healthcare, which has a more discrete market and regulatory environment specific to the industry for medical devices. These operating segments which also form the Company’s reportable segments, are identified in accordance with how the Company’s CODM regularly reviews financial results and uses this information to evaluate the Company’s performance and allocate resources.

The Company evaluates performance of the segments based on the net sales and adjusted operating income. Segment adjusted operating income is defined as operating income before income taxes and before certain corporate headquarters unallocated costs, goodwill and intangible asset impairments, restructuring and other costs, interest expense, net, other expense (income), net, amortization of intangible assets and depreciation resulting from the fair value step-up of property, plant, and equipment from business combinations. Asset and other balance sheet information are not reported to the CODM.

A description of the products and services provided within each of the Company’s four reportable segments is provided below.

Connected Technology Solutions

This segment includes the design, manufacture and sales of the Company’s dental technology and equipment products. These products include the Equipment & Instruments and CAD/CAM product categories.

Equipment & Instruments

The Equipment & Instruments product category consists of basic and high-tech dental equipment such as imaging equipment, motorized dental handpieces, treatment centers, and other instruments for dental practitioners and specialists. Imaging equipment serves as a key point of entry to the Company’s digital workflow offerings and consists of a broad range of diagnostic imaging systems for 2D or 3D, panoramic, and intraoral applications, as well as cone-beam computed tomography systems (“CBCT”). Treatment centers comprise a broad range of products from basic dental chairs to sophisticated chair-based units with integrated diagnostic, hygienic and ergonomic functionalities, as well as specialist centers used in preventive treatment and for training purposes. This product group also includes other lab equipment, such as amalgamators, mixing machines and porcelain furnaces.

CAD/CAM

Dental CAD/CAM technologies are products designed for dental offices to support numerous digital workflows for procedures such as dental restorations through integrations with DS Core, our cloud-based platform. This product category includes intraoral scanners, 3-D printers, mills, and certain software and services, as well as a full-chairside economical restoration of esthetic ceramic dentistry offering called CEREC. A full-chairside offering enables dentists to practice same day or single visit dentistry.

Essential Dental Solutions

This segment includes the development, manufacture and sales of the Company’s value-added endodontic, restorative, and preventive consumable products and small equipment used in dental offices for the treatment of patients. Offerings in this segment also include specialized treatment products including products used in the creation of dental appliances.

Essential Dental Solutions products are designed to operate in an integrated system to provide solutions for high-tech dental procedures. The endodontic products include motorized endodontic handpieces, files, sealers, irrigation needles and other tools or single-use solutions which support root canal procedures. The restorative products include dental ceramics and other materials used in prosthetic restorations including crowns and veneers.

The preventive products include small equipment products such as curing light systems, dental diagnostic systems and ultrasonic scalers and polishers, as well as other dental supplies including dental anesthetics, prophylaxis paste, dental sealants and impression materials.

Orthodontic and Implant Solutions

This segment includes the design, manufacture, and sales of the Company’s various digital implant systems and innovative dental implant products, digital dentures and dental professional directed aligner solutions. Offerings in this segment also include application of our digital services and technology, including those provided by DS Core, our cloud-based platform.

Orthodontics

The Orthodontics product category includes SureSmile, an aligner solution provided through clinician offices, and Byte, a direct-to-consumer aligner solution. The Orthodontics product category also includes a High Frequency Vibration technology device known as VPro or as HyperByte within Byte’s product offering, as well as the new SureSmile Simulator which uses intraoral scanners and our DS Core platform to create a 3D visualization of patient outcomes. SureSmile aligner solutions include whitening kits and retainers. Byte aligner solutions include Byte Plus with in-office intraoral scanning for treatment planning. The aligner offerings also include software technology that enables aligner treatment planning and seamless connectivity of a digital workflow from diagnostics through treatment delivery.

Implants & Prosthetics

The Implants & Prosthetics product category includes technology to support the Company’s digital workflows for implant systems, a portfolio of innovative dental implant products, digital dentures, crown and bridge porcelain products, bone regenerative and restorative solutions, treatment planning software and educational programs. The Implants & Prosthetics product category is supported by key technologies including custom abutments, advanced tapered immediate load screws and regenerative bone growth factor. Offerings in this category also include dental prosthetics such as artificial teeth and precious metal dental alloys.

Wellspect Healthcare

This segment includes the design, manufacture, and sales of the Company’s innovative continence care solutions for both urinary and bowel management. This category consists mainly of urology catheters and other healthcare-related consumable products.

The Company’s segment information for the years ended December 31 was as follows:


Net Sales	Year Ended December 31,
(in millions)	2023		2022		2021

Connected Technology Solutions	$	1,169	$	1,219	$	1,348
Essential Dental Solutions	1,468		1,427		1,516
Orthodontic and Implant Solutions	1,040		1,006		1,064
Wellspect Healthcare	288		270		303
Total net sales	$	3,965	$	3,922	$	4,231


Depreciation and Amortization	Year Ended December 31,
(in millions)	2023		2022		2021

Connected Technology Solutions	$	176	$	172	$	185
Essential Dental Solutions	33		31		41
Orthodontic and Implant Solutions	97		90		83
Wellspect Healthcare	18		21		24
All Other (a)	19		14		14
Total	$	343	$	328	$	347

(a) Includes amounts recorded at corporate headquarters.


Segment Adjusted Operating Income	Year Ended December 31,
(in millions)	2023		2022		2021

Connected Technology Solutions	$	101	$	161	$	267
Essential Dental Solutions	478		467		511
Orthodontic and Implant Solutions	156		193		217
Wellspect Healthcare	87		73		87
Segment adjusted operating income	$	822	$	894	$	1,082

Reconciling items (income) expense:
All other (a)	319		318		229
Goodwill and intangible asset impairments	307		1,287		—
Restructuring and other costs	67		14		17
Interest expense, net	81		65		49
Other expense (income), net	9		53		14
Amortization of intangible assets	211		209		222
Depreciation resulting from the fair value step-up of property, plant, and equipment from business combinations	3		3		6
(Loss) income before income taxes	$	(175)	$	(1,055)	$	545

(a) Includes the results of unassigned corporate headquarters costs.

Geographic Information

The following tables set forth information about the Company’s significant operations by geographic areas, for the years ended December 31, 2023, 2022, and 2021. Net sales reported below represent revenues from external customers in those respective countries based on the destination of shipments.


	Year Ended December 31,
(in millions)	2023		2022		2021

Net sales
United States	$	1,437	$	1,393	$	1,484
Germany	431		447		482

Other Foreign	2,097		2,082		2,265
Total net sales	$	3,965	$	3,922	$	4,231

Property, plant and equipment, net, represents those long-lived assets held by the operating businesses located in the respective geographic areas.


	Year Ended December 31,
(in millions)	2023		2022		2021

Property, plant, and equipment, net
United States	$	194	$	174	$	166
Germany	260		275		309
Sweden	105		98		107
Other Foreign	241		214		191
Total property, plant, and equipment, net	$	800	$	761	$	773

Product and Customer Information

For information on the Company’s net sales by product category comprising each of the reportable segments, see Note 2, Revenue.

Concentration Risk

Customers that accounted for 10% or more of net sales or accounts receivable for the years ended December 31, 2023 and 2022 were as follows:


	Year Ended December 31,
	2023				2022
	% of net sales		% of accounts receivable		% of net sales		% of accounts receivable

Henry Schein, Inc.	14	%	11	%	11	%	15	%
Patterson Companies, Inc.	N/A		10	%	N/A		12	%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
-Paragraph 40
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 280
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-Topic 280
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-Topic 280
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-Paragraph 32
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Assets and Liabilities, Leases

The net present value of finance and operating lease right-of-use assets and liabilities were as follows:


		Year Ended December 31,
(in millions, except percentages)	Location in the Consolidated Balance Sheets	2023			2022

Assets
Finance leases	Property, plant, and equipment, net	$	1		$	1
Operating leases	Operating lease right-of-use assets, net	178			200
Total right-of-use assets		$	179		$	201

Liabilities
Current liabilities
Finance leases	Notes payable and current portion of long-term debt	$	—		$	1
Operating leases	Accrued liabilities	56			54
Noncurrent liabilities
Finance leases	Long-term debt	1			1
Operating leases	Operating lease liabilities	125			149
Total lease liabilities		$	182		$	205

Supplemental information:
Weighted-average discount rate
Finance leases		4.2		%	3.5		%
Operating leases		3.9		%	3.5		%

Weighted-average remaining lease term in years
Finance leases		5.2			4.1
Operating leases		4.5			5.1

Schedule of Lease Costs and Supplemental Cash Flow Information For Leases

The lease cost recognized in the Consolidated Statements of Operations were as follows:


	Year Ended December 31,
(in millions)	2023		2022




Operating lease cost	$	67	$	68
Short-term lease cost	—		1
Variable lease cost	15		12
Total lease cost	$	82	$	81

The supplemental cash flow information for leases were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows paid for operating leases	$	68	$	66	$	65


Right-of-use assets obtained in exchange for new lease liabilities:
Finance leases	$	—	$	—	$	1
Operating leases	36		57		79

Schedule of Contractual Maturity Dates, Finance Lease

The contractual maturity dates of the remaining lease liabilities as of December 31, 2023 were as follows:


(in millions)	Finance Leases		Operating Leases		Total

2024	$	—	$	62	$	62
2025	1		45		46
2026	—		32		32
2027	—		21		21
2028	—		16		16
2029 and beyond	—		23		23
Total lease payments	$	1	$	199	$	200
Less imputed interest	—		18		18
Present value of lease liabilities	$	1	$	181	$	182

Schedule of Contractual Maturity Dates, Operating Lease

The contractual maturity dates of the remaining lease liabilities as of December 31, 2023 were as follows:


(in millions)	Finance Leases		Operating Leases		Total

2024	$	—	$	62	$	62
2025	1		45		46
2026	—		32		32
2027	—		21		21
2028	—		16		16
2029 and beyond	—		23		23
Total lease payments	$	1	$	199	$	200
Less imputed interest	—		18		18
Present value of lease liabilities	$	1	$	181	$	182

ACCRUED LIABILITIES

12 Months Ended

Dec. 31, 2023

Other Liabilities Disclosure [Abstract]

ACCRUED LIABILITIES

Accrued liabilities were as follows:


	Year Ended December 31,
(in millions)	2023		2022

Payroll, commissions, bonuses, other cash compensation and employee benefits	$	161	$	156
Sales and marketing programs	68		65
Reserve for distributor rebates	151		163
Restructuring costs	37		7
Accrued vacation and holidays	32		32
Professional and legal costs	25		27
Current portion of derivatives	18		19
General insurance	11		12
Warranty liabilities	24		22
Third party royalties	5		7
Deferred income	91		84
Accrued interest	9		9

Accrued property taxes	6		6
Current operating lease liabilities	56		54

Other	55		64
Accrued liabilities	$	749	$	727

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per common share (in dollars per share)	$ 0.56	$ 0.50	$ 0.43

RESTRUCTURING AND OTHER COSTS (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

Restructuring and other costs for the years ended December 31, 2023, 2022 and 2021 were as follows:


Affected Line Item in the Consolidated Statements of Operations	Year Ended December 31,
(in millions)	2023		2022		2021

Cost of products sold	$	4	$	—	$	(3)
Selling, general, and administrative expenses	3		—		6
Restructuring and other costs	67		14		17

Total Restructuring and other costs	$	74	$	14	$	20

Schedule of Restructuring Accruals


	Severance
(in millions)	2021 and Prior Plans		2022 Plans		2023 Plans		Total

Balance at December 31, 2022	$	4	$	3	$	—	$	7
Provisions and adjustments	—		2		62		64
Amounts applied	(2)		(3)		(24)		(29)
Change in estimates	—		(2)		(1)		(3)
Balance at December 31, 2023	$	2	$	—	$	37	$	39


	Other Restructuring Costs
(in millions)	2021 and Prior Plans		2022 Plans		2023 Plans		Total

Balance at December 31, 2022	$	—	$	1	$	—	$	1
Provisions and adjustments	1		—		9		10
Amounts applied	(1)		—		(8)		(9)
Change in estimates	—		—		(1)		(1)
Balance at December 31, 2023	$	—	$	1	$	—	$	1

The Company’s restructuring accruals at December 31, 2022 were as follows:


	Severances
(in millions)	2020 and Prior Plans		2021 Plans		2022 Plans		Total

Balance at December 31, 2021	$	5	$	9	$	—	$	14
Provisions and adjustments	1		1		9		11
Amounts applied	(3)		(6)		(5)		(14)
Change in estimates	(2)		(1)		(1)		(4)
Balance at December 31, 2022	$	1	$	3	$	3	$	7


	Other Restructuring Costs
(in millions)	2020 and Prior Plans		2021 Plans		2022 Plans		Total

Balance at December 31, 2021	$	4	$	—	$	—	$	4
Provisions and adjustments	1		2		2		5
Amounts applied	(4)		(2)		(1)		(7)
Change in estimates	(1)		—		—		(1)
Balance at December 31, 2022	$	—	$	—	$	1	$	1

Schedule of Cumulative Amounts for the Provisions and Adjustments and Amounts Applied for All the Plans by Segment

The cumulative amounts for the provisions and adjustments and amounts applied for all the plans by segment were as follows:


(in millions)	December 31, 2022		Provisions and Adjustments		Amounts Applied		Change in Estimates		December 31, 2023

Connected Technology Solutions	$	3	$	18	$	(8)	$	—	$	13
Essential Dental Solutions	4		25		(10)		(2)		17
Orthodontic and Implant Solutions	1		16		(7)		(1)		9
Wellspect Healthcare	—		5		(3)		(1)		1
All Other	—		10		(10)		—		—
Total	$	8	$	74	$	(38)	$	(4)	$	40

The cumulative amounts for the provisions and adjustments and amounts applied for all the plans by segment were as follows:


(in millions)	December 31, 2021		Provisions and Adjustments		Amounts Applied		Change in Estimates		December 31, 2022

Connected Technology Solutions	$	7	$	5	$	(5)	$	(4)	$	3
Essential Dental Solutions	5		4		(5)		—		4
Orthodontic and Implant Solutions	5		2		(5)		(1)		1
Wellspect Healthcare	1		1		(2)		—		—
All Other	—		4		(4)		—		—
Total	$	18	$	16	$	(21)	$	(5)	$	8

COMMITMENTS AND CONTINGENCIES - ADDITIONAL INFORMATION (Details) € in Millions, $ in Millions		2 Months Ended	12 Months Ended
	Mar. 21, 2023 EUR (€)	Aug. 09, 2018 lawsuit distributor	Dec. 31, 2023 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2013 USD ($)
Loss Contingencies [Line Items]
Loss contingency, new claims filed, number \| lawsuit		2
Loss contingency, number of distributors allegedly engaged in anticompetitive conduct \| distributor		3
Worthless stock deduction amount					$ 546
Distribution amount				$ 451
Additional federal income taxes due for 2016				$ 2
Mr. Carlo Gobbetti Litigation
Loss Contingencies [Line Items]
Loss contingency, damages sought, value \| €	€ 28
Escrow deposit \| €	7
Loss contingency, punitive damages sought \| €	€ 21
IRS \| Tax Year 2012
Loss Contingencies [Line Items]
Refund from income tax examination			$ 5
IRS \| Tax Year 2014
Loss Contingencies [Line Items]
Penalties expense			$ 17

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Basis of Presentation

The consolidated financial statements include the results of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation. Certain prior period amounts have been reclassified to conform to current year presentation.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ materially from those estimates.

Cash and Cash Equivalents

Cash and cash equivalents include deposits with banks as well as highly liquid time deposits with original maturities of ninety days or less. The balance as of December 31, 2023 includes $42 million of cash and cash equivalents located in Russia which is available for use in local operations but limited in its ability to be transferred out of the country due to control measures currently in place by the Russian government.

Short-term Investments

Short-term investments are highly liquid time deposits with original maturities greater than ninety days and with remaining maturities of one year or less.

Accounts Receivable

The Company recognizes a receivable when it has an unconditional right to payment, which represents the amount the Company expects to collect in a transaction. Payment terms are typically 30 days in the United States but may be longer in markets outside the U.S. In general, contracts containing significant financing components are not material to the Company’s financial statements.

The Company establishes an allowance for doubtful accounts based on an estimate of current expected credit losses resulting from the inability of its customers to make required payments. The allowance is determined based on a combination of factors, including the length of time that the receivable is past due, history of write-offs, and the Company’s knowledge of circumstances relating to specific customers’ ability to meet their financial obligations. The provision for doubtful accounts is included in Selling, general and administrative expenses (“SG&A”) in the Consolidated Statements of Operations. For customers on credit terms, the Company performs ongoing credit evaluation of those customers’ financial condition and generally does not require collateral from them.

Inventories

Inventories are stated at the lower of cost and net realizable value. The cost of inventories is based upon the first-in, first-out method (“FIFO”) or average cost methods.

The Company establishes reserves for inventory estimated to be excess, obsolete or unmarketable based upon assumptions about future demand, market conditions, and expiration of products.

Valuation of Goodwill and Indefinite-Lived and Definite-Lived Intangible Assets

Goodwill

Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired and liabilities assumed in a business combination. Goodwill is not subject to amortization but is tested for impairment at the reporting unit level annually in accordance with U.S. GAAP as of April 1 of each year, or more frequently if events or circumstances indicate that the carrying value of goodwill may be impaired. The Company performs impairment tests by comparing the fair value of each reporting unit to its carrying amount to determine if there is a potential impairment. If the carrying value of a reporting unit with goodwill exceeds its respective fair value, an impairment charge is recognized for the excess amount. Additional information related to the testing for goodwill impairment, including results of the annual test performed as of April 1, 2023 and the interim impairment assessment performed in the third quarter of 2023, is provided in Note 11, Goodwill and Intangible Assets.

Indefinite-Lived Intangible Assets

Indefinite-lived intangible assets consist primarily of tradenames and trademarks and in-process research and development (“R&D”) acquired in business combinations, and these are not subject to amortization. Valuations of indefinite-lived intangibles assets acquired in business combinations are based on information and assumptions available at the time of their acquisition, using income and market approaches to determine fair value. The Company conducts an impairment test in accordance with U.S. GAAP as of April 1 of each year, or more frequently if events or circumstances indicate that the carrying value of indefinite-lived intangible assets may be impaired. Potential impairment is identified by comparing the fair value of an intangible asset to its carrying value. Additional information related to the testing for indefinite-lived intangible asset impairment, including results of the annual test performed as of April 1, 2023 and the interim impairment assessment performed in the third quarter of 2023, is provided in Note 11, Goodwill and Intangible Assets.

Definite-Lived Intangible Assets

Definite-lived intangible assets primarily consist of patents, tradenames, trademarks, licensing agreements, developed technology, and customer relationships. The valuation of definite-lived intangibles assets acquired in business combinations is based on information and assumptions available at the time of acquisition, using income and market model approaches to determine fair value.

Identifiable definite-lived intangible assets are amortized on a basis that best reflects how their economic benefits are utilized over the life of the asset or on a straight-line basis if not materially different from actual utilization. The useful life is the period over which the asset is expected to contribute to the future cash flows of the Company. The Company uses the following useful lives for its definite-lived intangible assets:


Definite-Lived Intangible Asset Type						Useful Life

Patents						Up to the date the patent expires
Tradenames and trademarks						Up to 20 years
Licensing agreements						Up to 20 years
Customer relationships						Up to 15 years
Developed technology						Up to 15 years

When the expected useful life of an intangible is not known, the Company will estimate its useful life based on similar asset or asset groups, any legal, regulatory, or contractual provision that limits the useful life, the effect of economic factors, including obsolescence, demand, competition, and the level of maintenance expenditures required to obtain the expected future economic benefit from the asset.

These assets are reviewed for impairment whenever events or circumstances suggest that the carrying amount of the asset may not be recoverable. The Company closely monitors all intangible assets, including those related to new and existing technologies, for indicators of impairment as these assets have more risk of becoming impaired. Impairment is based upon an initial evaluation of the identifiable undiscounted cash flows. If the initial evaluation identifies a potential impairment, a fair value of the asset is determined by using a discounted cash flows valuation. If impaired, the resulting charge reflects the excess of the asset’s carrying cost over its fair value.

Property, Plant and Equipment

Property, plant and equipment are stated at cost, net of accumulated depreciation. Assets acquired through acquisitions are recorded at fair value. The Company capitalizes costs incurred in the development or acquisition of software, whether for internal or external use, and expenses costs incurred in the preliminary project planning stage. Except for leasehold improvements, depreciation and amortization is computed by the straight-line method over the assets estimated useful lives:


Property, Plant and Equipment Assets Type						Useful Life
Buildings						40 years
Machinery and Equipment						4 to 15 years
Capitalized Software						2 to 10 years
Leasehold Improvements						Shorter of the estimated useful life or the term of the lease

Maintenance and repairs are expensed as incurred; replacements and major improvements are capitalized. If events or circumstances exist which suggest that the carrying amount of the asset group may not be recoverable, the identifiable undiscounted cash flows of the asset group are compared to the carrying value of the asset. If the carrying value is in excess of the identifiable undiscounted cash flows, the excess of the asset group’s carrying cost over its fair value is recorded as an impairment charge.

Leases

The Company leases real estate, automobiles and equipment under various operating and finance leases. The Company determines if an arrangement is a lease or contains a lease at inception. Operating lease right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the implicit rate is not readily determinable in most of the Company’s lease agreements, the Company uses its estimated secured incremental borrowing rate, based on the information available, at commencement of the lease to determine the present value of lease payments. Lease expense is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Any new real estate and equipment operating lease agreements with lease and non-lease components, are accounted for as a single lease component; auto leases are accounted for as separate lease components.

The Company’s leases have remaining lease terms of approximately 1 year to 9 years. Many of the Company’s real estate and equipment leases have one or more options to renew, with terms that can extend primarily from 1 year to 3 years, which are not included in the initial lease term until considered reasonably certain of renewal. The Company does not have lease agreements with residual value guarantees, sale-and-leaseback terms, or material restrictive covenants. The Company does not have any material sublease arrangements.

Derivative Financial Instruments

The Company employs derivative financial instruments to hedge certain anticipated transactions, firm commitments, and assets and liabilities denominated in foreign currencies. Additionally, the Company manages exposures to changes in interest rates by utilizing interest rate swaps that have the effect of converting floating rate debt to fixed rate, or vice versa. The benefit or loss from interest rate swaps is recorded in Interest expense, net in the Company’s Consolidated Statements of Operations consistent with the classification of interest expense attributable to the underlying debt.

The Company records all derivative instruments at fair value and changes in fair value are recorded each period in the consolidated statements of operations or accumulated other comprehensive income (“AOCI”). The Company classifies derivative assets and liabilities as current when the remaining term of the derivative contract is one year or less. The Company has elected to classify the cash flows from derivative instruments in the same category as the cash flows from the items being hedged. Should the Company enter into a derivative instrument that includes an other-than-insignificant financing element then all cash flows will be classified as financing activities in the Consolidated Statements of Cash Flows as required by U.S. GAAP.

Pension and Other Postemployment Benefits

Some of the employees of the Company and its subsidiaries are covered by government or Company-sponsored defined benefit plans and defined contribution plans. Additionally, certain salaried employee groups in the United States are covered by postemployment healthcare plans. Projected benefit obligations and net periodic costs for Company-sponsored defined benefit and postemployment benefit plans are based on an annual actuarial valuation that includes assessment of key assumptions relating to expected return on plan assets, discount rates, employee compensation increase rates and health care cost trends. Expected return on plan assets, discount rates and health care cost trend assumptions are particularly important when determining the Company’s benefit obligations and net periodic benefit costs associated with postemployment benefits. Changes in these assumptions can impact the Company’s earnings. In determining the cost of postemployment benefits, certain assumptions are established annually to reflect market conditions and plan experience to appropriately reflect the expected costs as determined by actuaries. These assumptions include medical inflation trend rates, discount rates, employee turnover and mortality rates. The Company predominantly uses liability durations in establishing its discount rates, which are observed from indices of high-grade corporate bond yields in the respective economic regions of the plans. The expected return on plan assets is the weighted average long-term expected return based upon asset allocations and historic average returns for the markets where the assets are invested, principally in foreign locations. The Company reports the funded status of its defined benefit pension and other postemployment benefit plans on its consolidated balance sheets as a net liability or asset.

Accruals for Self-Insured Losses

The Company maintains insurance for certain risks, including workers’ compensation, and is self-insured for employee related healthcare benefits. The Company accrues for the expected costs associated with these risks by considering historical claims experience, demographic factors, severity factors and other relevant information. Costs are recognized in the period the claim is incurred, and the financial statement accruals include an estimate of claims incurred but not yet reported. The Company has stop-loss coverage to limit its exposure to any significant exposure on a per claim basis.

Litigation

The Company and its subsidiaries, from time to time, are parties to lawsuits arising from operations. The Company records liabilities when a loss is probable and can be reasonably estimated. If these estimates are in the form of ranges, the Company records the liabilities at the most likely outcome within the range. If no point within the range represents a better estimate of the probable loss, then the low point in the range is accrued. The ranges established by management are based on analysis made by internal and external legal counsel who considers the best information known at the time. If the Company determines that a contingency is reasonably possible, it considers the same information to estimate the possible exposure and discloses any material potential liability. These loss contingencies are monitored regularly for a change in fact or circumstance that would require an accrual adjustment. Legal costs related to these lawsuits are expensed as incurred.

Foreign Currency Translation

The local currency of foreign operations is generally considered to be their functional currency. In the case of operations within highly inflationary economies, which for the Company include Argentina and Turkey, the Company remeasures the financial statements of entities in those countries with the U.S. dollar as the functional currency.

Adjustments resulting from the process of translating the financial statements of entities with foreign functional currencies into U.S. dollars are included in AOCI in the Consolidated Balance Sheets. During the year ended December 31, 2023, the Company had a translation gain of $78 million and a loss on its loans designated as hedges of net investments of $29 million. During the year ended December 31, 2022, the Company had a translation loss of $188 million and a gain on its loans designated as hedges of net investments of $32 million. During the year ended December 31, 2021, the Company had a translation loss of $225 million and a gain on its loans designated as hedges of net investments of $46 million.

Revenue Recognition

Revenues are derived primarily from the sale of dental equipment and dental and healthcare consumable products. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing services in accordance with ASC 606-10, Revenues from Contracts with Customers. Revenue is recognized when performance obligations under the terms of a contract with a customer are satisfied; this occurs with the transfer of control of products and services to its customers, which for products generally occurs when title and risk of loss transfers to the customer, and for services generally occurs as the customer receives and consumes the benefit. Sales, value-added, and other taxes collected concurrent with revenue-producing activities are excluded from revenue.

Certain contracts with our customers include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately may require significant judgment. The Company generally uses an observable price, typically average selling price, to determine the stand-alone selling price for separate performance obligations. The Company determines the stand-alone selling price, based on Company geographic sales locations’ database of pricing and discounting practices for the specific product or service when sold separately, and utilizes this data to arrive at average selling prices by product. In cases where an average selling price is not observable, the Company determines the stand-alone selling price using relevant information and applies suitable estimation methods including, but not limited to, the cost plus a margin approach. Revenue is then allocated proportionately, based on the determined stand-alone selling price, to each distinct performance obligation.

The Company exercises judgment in estimating variable consideration, which primarily includes volume discounts, sales rebates, and product returns. The Company adjusts the estimate of revenue at the earlier of when the most likely amount of consideration can be estimated, the amount expected to be received changes, or when the consideration becomes fixed. The Company estimates volume discounts by evaluating specific inputs and assumptions, including the individual customer’s historical and estimated future product purchases. Discounts are deducted from revenue at the time of sale or when the discount is offered, whichever is later. In estimating sales rebates, the Company evaluates inputs such as customer-specific trends, terms of the customers’ contracted rebate program, historical experience, and the forecasted performance of a customer and their expected level of achievement within the rebate programs. The accruals for these rebate programs are updated as actual results and updated forecasts impact the estimated achievement for customers within the rebate programs. When the Company gives customers the right to return eligible products and receive credit, returns are estimated based on an analysis of historical experience. However, returns of products, excluding warranty-related returns, are not material.

To the extent the transaction price includes variable consideration, the Company applies judgment in constraining the estimated variable consideration due to factors that may cause reversal of cumulative revenue recognized. The Company evaluates constraints based on its historical and projected experience with similar customer contracts.

For most of its products, the Company transfers control and recognizes revenue when products are shipped from the Company’s manufacturing facility or warehouse to the customer. For contracts with customers that contain destination shipping terms, revenue is not recognized until the goods are delivered to the agreed upon destination. As such, the Company’s performance obligations related to product sales are satisfied at a point in time as this is when the customer obtains the use of and substantially all of the benefit of the product.

The Company recognizes revenue from support and maintenance contracts, extended warranties, and other certain contract performance obligations over time based on the period of the contracts or as the services are performed, as the customer simultaneously receives and consumes the benefits provided by the Company’s performance of the services. In general, the total amount of revenue recognized over time is not material to the Company’s financial statements.

Depending on the terms of its contracts, the Company may defer the recognition of a portion of revenue on a relative stand-alone selling price basis when certain performance obligations are not yet satisfied. Consideration received from customers in advance of revenue recognition is classified as deferred revenue.

The Company has elected to account for shipping and handling activities as a fulfillment cost within the cost of products sold, and records shipping and handling costs collected from customers in net sales. The Company has adopted one practical expedient: relief from considering the existence of a significant financing component when the payment for the good or service is expected to be one year or less.

Cost of Products Sold

Cost of products sold represents costs directly related to the manufacture and distribution of the Company’s products, and include costs of raw materials, packaging, direct labor, overhead, shipping and handling, warehousing and the depreciation of manufacturing, warehousing and distribution facilities and amortization of intangible assets. Overhead and related expenses include salaries, wages, employee benefits, utilities, lease costs, maintenance and property taxes.

Warranties

The Company provides manufacturer’s warranties on certain equipment products. Estimated warranty costs are accrued when sales are made to customers. Estimates for warranty costs are based primarily on historical warranty claim experience. Warranty costs are included in Cost of products sold in the Consolidated Statements of Operations.

Selling, General and Administrative Expenses

SG&A represents indirect costs associated with generating revenues and in managing the business of the Company. Such costs include advertising and marketing expenses, salaries, employee benefits, incentive compensation, travel, office expenses, lease costs, amortization of capitalized software developed for internal use, and depreciation of administrative facilities. Advertising costs are expensed as incurred.

Research and Development Costs

R&D costs, including internal labor costs, material costs, consulting expenses, and certain overheads, such as facilities and information technology costs directly attributable to R&D activities, are expensed in the period in which they are incurred. Software development costs related to software to be sold, leased, or otherwise marketed incurred prior to the attainment of technological feasibility are considered R&D and are expensed as incurred. Once technological feasibility is established, the cost of software developed for external use is capitalized until the product is available for general release to customers. Amortization of these costs are included in Cost of products sold over the estimated life of the products.

Stock Compensation

Stock-based compensation is measured at the grant date at fair value, and is recognized as an expense over the employee’s requisite service period (generally the vesting period of the equity awards). The compensation cost is only recognized for the portion of the awards that are expected to vest.

Stock options granted become exercisable as determined by the grant agreement and expire ten years after the date of grant under these plans. Restricted Stock Units (“RSU”) vest as determined by the grant agreement and are subject to a service condition, which requires grantees to remain employed by the Company during the period following the date of grant. Under the terms of the RSUs, the vesting period is referred to as the restricted period. In addition to the service condition, certain granted RSUs are subject to performance requirements that can vary between the first year and up to the final year of the RSU award. If targeted performance is not met the RSU granted is adjusted to reflect the achievement level. Upon the expiration of the applicable restricted period and the satisfaction of all conditions imposed, the restrictions on RSUs will lapse, and shares of common stock will be issued as payment for each vested RSU. Upon death, disability or qualified retirement all awards become immediately exercisable for up to one year. Awards are expensed as compensation over their respective vesting periods or to the eligible retirement date if shorter. The Company records forfeitures on stock-based compensation as the participant terminates rather than estimating forfeitures.

Income Taxes

The Company’s tax expense includes U.S. and international income taxes plus the provision for U.S. taxes on undistributed earnings of international subsidiaries not considered to be permanently invested. Tax credits and other incentives reduce tax expense in the year the credits are claimed. Certain items of income and expense are not reported in tax returns and financial statements in the same year. The tax effect of such temporary differences is reported as deferred income taxes. Deferred tax assets are recognized if it is more likely than not that the assets will be realized in future years. The Company establishes a valuation allowance for deferred tax assets for which realization is not likely.

The Company applies a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The Company recognizes in the consolidated financial statements the impact of a tax position if that position is more likely than not of being sustained upon examination by the taxing authorities based on the technical merits of the position.

The Company’s tax positions are subject to ongoing examinations by the tax authorities. The Company operates within multiple taxing jurisdictions throughout the world and in the normal course of business is examined by taxing authorities in those jurisdictions. Adjustments to the uncertain tax positions are recorded when taxing authority examinations are completed, statutes of limitation are closed, changes in tax laws occur or as new information comes to light regarding to the technical merits of the tax position.

Earnings Per Share

Basic earnings per share are calculated by dividing net earnings attributable to the Company’s shareholders by the weighted average number of shares outstanding for the period. Diluted earnings per share is calculated by dividing net earnings attributable to the Company’s shareholders by the weighted average number of shares outstanding for the period, adjusted for the effect of an assumed exercise of all dilutive options outstanding at the end of the period, unless the impact of including these options is anti-dilutive.

Business Acquisitions

The Company acquires businesses as well as partial interests in businesses. Acquired businesses are accounted for using the acquisition method of accounting which requires the Company to record assets acquired and liabilities assumed at their respective fair values with the excess of the purchase price over estimated fair values recorded as goodwill.

The Company obtains information during due diligence and through other sources to establish respective fair values. Examples of factors and information that the Company uses to determine the fair values include: tangible and intangible asset valuations and appraisals, and evaluations of existing contingencies, liabilities, and product line information. If the initial valuation for an acquisition is incomplete by the end of the reporting period in which the acquisition occurred, the Company will record provisional estimates in the financial statements. The provisional estimates will be finalized as soon as information becomes available, but not later than one year from the acquisition date.

As part of purchase accounting for acquisitions, the Company values identified intangible assets using an income approach. Technology know-how is valued using an excess earnings method. Tradename and trademark assets are valued using a relief-from-royalty method. Non-compete agreements are valued using a with-and-without method. The Company applies judgment in estimating the fair value of intangible assets acquired, which involves the use of estimates and assumptions with respect to revenue growth rates, EBITDA margin percentages, royalty rate, technology obsolescence factors, useful lives of the assets and discount rates used in computing present values. In addition, the estimates of useful lives of these acquired intangibles are used to calculate depreciation and amortization expense.

Investments in Unconsolidated Affiliates

Investments in non-consolidated affiliates, joint ventures and partnerships where the Company maintains significant influence over an entity but does not have control are accounted for using the equity method. The Company records the carrying value of these investments within other noncurrent assets in the Consolidated Balance Sheets and records the Company’s proportional share of the investees’ net earnings or losses within other expense (income). Investments in which the Company does not exercise significant influence are recorded at cost, and assessed for any other-than-temporary impairment when events or changes in circumstances indicate the carrying amount of the investment might not be recoverable.

On December 7, 2023, the Company sold its minority interest in a UK-based, privately-held provider of healthcare consumables for $13 million. Prior to the sale, the Company recorded a loss of $4 million in Other expense (income), net due to a forfeiture of accumulated earnings on the investment for declining its option to purchase the remaining ownership interest.

The Company's equity-method net losses were $4 million, $36 million, and $10 million for the years ended December 31, 2023, 2022, and 2021 respectively. Loss from equity method investments for the year ended December 31, 2022 includes $36 million recorded in Other expense (income), net in the Consolidated Statements of Operations for a write-off of the Company’s ownership position in a privately-held dental investment company following impairment of underlying investments held by the investment company and the Company’s determination that the remaining investment is not recoverable.

Noncontrolling Interests

The Company reports noncontrolling interest (“NCI”) in a subsidiary as a separate component of Equity in the Consolidated Balance Sheets. Additionally, the Company reports the portion of net income (loss) and comprehensive income (loss) attributed to the Company and NCI separately in the Consolidated Statements of Operations, and in the Consolidated Statements of Comprehensive Income.

Segment Reporting

The Company has numerous operating businesses covering a wide range of products and geographic regions, primarily serving the professional dental market and to a lesser extent the consumable medical device market. The Company has four reportable segments and a description of the activities within these segments is included in Note 6, Segment and Geographic Information.

Fair Value Measurement

Recurring Basis

The Company records certain financial assets and liabilities at fair value in accordance with the accounting guidance, which defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date in current markets. The accounting guidance establishes a hierarchical disclosure framework associated with the level of pricing observability utilized in measuring financial instruments at fair value. The three broad levels defined by the fair value hierarchy are as follows:

Level 1 - Quoted prices are available in active markets for identical assets or liabilities as of the reported date.

Level 2 - Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reported date. These financial instruments include derivative instruments whose fair value have been derived using a model where inputs to the model are directly observable in the market or can be derived principally from, or corroborated by observable market data.

Level 3 - Instruments that have little to no pricing observability as of the reported date. These financial instruments do not have two-way markets and are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation.

The degree of judgment utilized in measuring the fair value of certain financial assets and liabilities generally correlates to the level of pricing observability. Pricing observability is impacted by a number of factors, including the type of financial instrument. Financial assets and liabilities with readily available active quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of pricing observability and a lesser degree of judgment utilized in measuring fair value. Conversely, financial assets and liabilities rarely traded or not quoted will generally have less, or no pricing observability and a higher degree of judgment utilized in measuring fair value.

The Company primarily applies the market approach for recurring fair value measurements and endeavors to utilize the best available information. Accordingly, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. Additionally, the Company considers its credit risks and its counterparties’ credit risks when determining the fair values of its financial assets and liabilities. The Company records its derivatives and contingent considerations on a recurring fair value basis.

The Company believes the carrying amounts of cash and cash equivalents, accounts receivable (net of allowance for doubtful accounts), prepaid expenses and other current assets, accounts payable, accrued liabilities, income taxes payable and notes payable approximate fair value due to the short-term nature of these instruments. The Company has presented the required disclosures in Note 20, Fair Value Measurement.

Non-Recurring Basis

When events or circumstances require an asset or liability to be measured at fair value that otherwise is generally recorded based on another valuation method, such as, net realizable value, the Company will utilize the valuation techniques described above. The Company records its business combinations and impairments on a non-recurring basis.

Recently Adopted Accounting Pronouncements and Accounting Pronouncements Not Yet Adopted

Recently Adopted Accounting Pronouncements

In October 2021, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers,” which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts. The new standard requirement to measure contract assets and contract liabilities acquired in a business combination at fair value differs from the current approach. The amendments in this update were effective for the fiscal years and interim periods ending after December 31, 2022. The Company adopted this accounting standard on January 1, 2023. The adoption of this standard did not materially impact the Company’s consolidated financial statements or related disclosures.

Accounting Pronouncements Not Yet Adopted

In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which requires public entities to disclose information about significant expenses in their reportable segment results on both an interim and annual basis. Public entities are required to disclose significant expense categories and amounts for each reportable segment. Significant expense categories are derived from expenses that are regularly reported to an entity’s chief operating decision-maker (“CODM”) and included in a segment’s reported measures of profit or loss. Public entities are also required to disclose the title and position of the CODM and explain how the CODM uses the reported measures of profit or loss to assess segment performance. This standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, early adoption is permitted and should be applied retrospectively for all prior periods presented in the consolidated financial statements. The Company is currently evaluating the impact on its consolidated financial statements and related disclosures.

In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which requires public entities to disclose additional income tax information, primarily related to the rate reconciliation and income taxes paid on an annual basis. The amendment in the ASU is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this update are effective for annual periods beginning after December 15, 2024, early adoption is permitted and should be applied prospectively. The Company is currently evaluating the impact on its consolidated financial statements and related disclosures.

SEGMENT AND GEOGRAPHIC INFORMATION - ADDITIONAL INFORMATION (Details) - segment		12 Months Ended
	Feb. 14, 2023	Dec. 31, 2023
Segment Reporting [Abstract]
Number of operating segments	4	4

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net (loss) income	$ (132)	$ (950)	$ 411
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation	132	119	124
Amortization of intangible assets	211	209	222
Goodwill impairment	291	1,187	0
Indefinite-lived intangible asset impairment	16	100	0
Deferred income taxes	(130)	(228)	(25)
Stock based compensation expense	46	59	48
Restructuring and other costs	33	(10)	(17)
Equity in earnings from unconsolidated affiliates	4	36	10
Other non-cash (income) expense	(5)	60	24
Loss (gain) on sale or disposal of non-strategic businesses and product lines	0	3	(14)
Changes in operating assets and liabilities, net of acquisitions:
Accounts and notes receivable-trade, net	(58)	85	(117)
Inventories, net	6	(141)	(64)
Prepaid expenses and other current assets	(58)	(33)	(32)
Other noncurrent assets	4	1	(10)
Accounts payable	14	30	(49)
Accrued liabilities	(16)	4	117
Income taxes	(11)	(15)	17
Other noncurrent liabilities	30	1	12
Net cash provided by operating activities	377	517	657
Cash flows from investing activities:
Cash paid for acquisitions of businesses and equity investments, net of cash acquired	0	0	(248)
Cash received on sale of non-strategic businesses or product lines	13	0	28
Capital expenditures	(149)	(149)	(142)
Cash received on derivative contracts	39	13	2
Proceeds from sale of property, plant and equipment	7	0	0
Other investing activities, net	1	(2)	2
Net cash used in investing activities	(89)	(138)	(358)
Cash flows from financing activities:
Proceeds from long-term borrowings	0	6	16
Repayments on long-term borrowings	(7)	(2)	(297)
Net borrowings (repayments) on short-term borrowings	126	(64)	179
Proceeds from exercised stock options	0	6	51
Cash paid for treasury stock	(300)	(150)	(200)
Cash dividends paid	(116)	(104)	(92)
Other financing activities, net	(10)	(21)	(36)
Net cash used in financing activities	(307)	(329)	(379)
Effect of exchange rate changes on cash and cash equivalents	(12)	(24)	(19)
Net (decrease) increase in cash and cash equivalents	(31)	26	(99)
Cash and cash equivalents at beginning of period	365	339	438
Cash and cash equivalents at end of period	334	365	339
Supplemental disclosures of cash flow information:
Interest paid, net of amounts capitalized	97	70	64
Income taxes paid, net of refunds	177	122	148
Non-cash investing activities:
Change in accounts payable related to capital expenditures	$ 6	$ (6)	$ 19

EQUITY - ADDITIONAL INFORMATION (Details) - USD ($) $ / shares in Units, shares in Millions				1 Months Ended	2 Months Ended	12 Months Ended
	Apr. 28, 2023	Mar. 31, 2023	Mar. 03, 2023	Mar. 31, 2023	Apr. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Nov. 07, 2023	Mar. 06, 2023
Equity [Abstract]
Stock repurchase program, authorized amount									$ 1,000,000,000
Share repurchase program, remaining authorization						$ 1,440,000,000
Shares received (in shares)		3.1	3.1	3.1	0.8
Price per share (in dollars per share)			$ 38.74	$ 38.74
Amount Paid	$ 150,000,000	$ 120,000,000		$ 120,000,000
Total shares received (in shares)	3.9				3.9	8.8	3.1	3.5
Accelerated share repurchases, delivery of common shares										$ 121,000,000
Accelerated share repurchase		$ 30,000,000
Treasury shares purchased						$ 300,000,000	$ 150,000,000	$ 200,000,000
Excise tax amount						3,000,000
Proceeds from exercised stock options						$ 0	$ 6,000,000	$ 51,000,000
Number of stock option exercised (in shares)							0.1	1.1

REVENUE

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

REVENUE

Revenues are derived primarily from the sale of dental equipment and dental and healthcare consumables products. Revenues are measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing services. For a description of the products and services provided within each of the Company’s four reportable segments see Note 6, Segment and Geographic Information.

Net sales disaggregated by product category were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

Equipment & Instruments	$	628	$	678	$	728
CAD/CAM	541		541		620
Connected Technology Solutions	$	1,169	$	1,219	$	1,348

Essential Dental Solutions	$	1,468	$	1,427	$	1,516

Orthodontics	$	339	$	297	$	273
Implants & Prosthetics	701		709		791
Orthodontic and Implant Solutions	$	1,040	$	1,006	$	1,064

Wellspect Healthcare	$	288	$	270	$	303

Total net sales	$	3,965	$	3,922	$	4,231

Net sales disaggregated by geographic region were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

United States	$	1,437	$	1,392	$	1,480
Europe	1,550		1,559		1,675
Rest of World	978		971		1,076

Total net sales	$	3,965	$	3,922	$	4,231

Contract Assets and Liabilities

The Company generally does not have contract assets in the course of its business. Contract liabilities, which represent billings in excess of revenue recognized, are primarily related to advanced billings for customer aligner treatment where the performance obligation has not yet been fulfilled. The Company had deferred revenue of $91 million and $57 million recorded in Accrued liabilities and Other noncurrent liabilities, respectively, in the Consolidated Balance Sheets at December 31, 2023. The Company had deferred revenue of $91 million and $27 million recorded in Accrued liabilities and Other noncurrent liabilities, respectively, in the Consolidated Balance Sheets at December 31, 2022. The Company recognized $68 million of revenue during the twelve months ended December 31, 2023 which was previously deferred as of December 31, 2022. The Company recognized $59 million of revenue during the the twelve months ended December 31, 2022 which was previously deferred as of December 31, 2021. The Company expects to recognize a significant majority of the deferred revenue within the next twelve months.

Allowance for Doubtful Accounts

Accounts and notes receivable-trade, net are stated net of allowances for doubtful accounts and trade discounts, which were $17 million and $14 million at December 31, 2023 and 2022, respectively. For the years ended December 31, 2023 and 2022, changes to the provision for doubtful accounts including write-offs of accounts receivable that were previously reserved were insignificant. Changes to this provision are included in Selling, general, and administrative expenses in the Consolidated Statements of Operations.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

INCOME TAXES - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Taxes [Line Items]
Tax credit carryforwards	$ 3,671
Tax loss carryforward	3,889
Deferred tax assets, operating loss carryforward	873	$ 601
Deferred tax asset, interest carryforward	74	53
Translation Adjustment	791
Change in valuation allowance for deferred tax asset	32
Withholding taxes on undistributed earnings of foreign subsidiaries	8
Undistributed earnings of foreign subsidiaries	2,303	2,492
The total gross unrecognized tax benefits	136
Unrecognized tax benefits, if recognized, would affect the effective income tax rate	40
The total amount of accrued interest and penalties	4	6
Recognized income tax expense (benefits), interest and penalties	(2)	$ (2)
Settlement with Taxing Authority
Income Taxes [Line Items]
Possible benefit of unrecognized tax benefits	1
Foreign Tax Credits Expiring Future Years
Income Taxes [Line Items]
Tax credit carryforwards	40
Foreign Tax Credits Expiring Future Years \| Tax Year 2025
Income Taxes [Line Items]
Tax credit carryforwards	33
Foreign Tax Credits Expiring Future Years \| Tax Years 2028 through 2031
Income Taxes [Line Items]
Tax credit carryforwards	7
Without Expiry Date
Income Taxes [Line Items]
Tax credit carryforwards	218
Foreign
Income Taxes [Line Items]
Tax credit valuation allowance	$ 40

INCOME TAXES - COMPONENTS OF THE PROVISION FOR INCOME TAXES FROM OPERATIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
U.S. federal	$ 1	$ 1	$ 1
U.S. state	0	4	4
Foreign	86	118	154
Total	87	123	159
Deferred:
U.S. federal	4	(145)	10
U.S. state	(3)	(17)	2
Foreign	(131)	(66)	(37)
Total	(130)	(228)	(25)
Total (benefit) provision for income taxes	$ (43)	$ (105)	$ 134

BENEFIT PLANS

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

BENEFIT PLANS

Defined Contribution Plans

The Company maintains both U.S. and non-U.S. employee defined contribution plans. The primary U.S. plan, the Dentsply Sirona Inc. 401(k) Savings Plan (the “Plan”), allows eligible employees to contribute a portion of their cash compensation to the plan on a tax-deferred basis, and in most cases, the Company provides a matching contribution. The Plan includes various investment funds. The Company may make a non-elective discretionary cash contribution of 3% of compensation to participant accounts. Additionally, each eligible participant who elects to contribute to the Plan will receive a matching contribution of 100% on the first 1% contributed and 50% on the next 5% contributed for a total maximum matching contribution of 3.5%. In addition to the primary U.S. plan, the Company also maintains various other U.S. and non-U.S. defined contribution and non-qualified deferred compensation plans. The annual expenses, net of forfeitures, were $43 million, $41 million and $39 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Defined Benefit Plans

The Company maintains defined benefit pension plans for certain employees in Austria, France, Germany, Indonesia, Italy, Japan, the Netherlands, Norway, Sweden, Switzerland, Taiwan, and the United States. These plans provide benefits based upon age, years of service and remuneration. Substantially all the German and Swedish plans are unfunded book reserve plans. Most employees and retirees outside the United States are covered by government health plans.

The Company predominantly derives its discount rates by applying the specific spot rates along the yield curve to the relevant projected cash flows; or, in markets where there is an absence of a sufficiently deep corporate bond market, it uses liability durations in establishing its discount rates, which are observed from indices of high-grade corporate or government bond yield in the respective economic regions of the plan. For the large defined benefits pension plans, the Company uses a spot rate approach for the estimation of the Service cost and Interest cost components of benefit cost by applying the specific spot rates along the yield curve to the relevant projected cash flows.

Significant changes in the retirement plan benefit obligations for the year ended December 31, 2023 include a $35 million actuarial loss primarily attributable to the decrease in discount rates, the effect of which is slightly offset by the change in inflation and salary increase assumptions in some plans. The changes also include a $3 million actuarial loss due to plan experience different than anticipated.

Significant changes in the retirement plan benefit obligations for the year ended December 31, 2022 include a $162 million actuarial gain primarily attributable to the increase in discount rates, the effect of which is slightly offset by the change in inflation and salary increase assumptions in some plans. The changes also include a $1 million actuarial gain due to demographic assumption changes and a $14 million actuarial loss due to plan experience different than anticipated.

Defined Benefit Pension Plan Assets

The primary investment strategy is to ensure that the assets of the plans, along with anticipated future contributions, will be invested in order that the benefit entitlements of employees, pensioners and beneficiaries covered under the plan can be met when due with high probability. Pension plan assets consist mainly of common stock and fixed income investments. The target allocations for defined benefit plan assets are 30% to 65% equity securities, 30% to 65% fixed income securities, 0% to 15% real estate, and 0% to 25% in all other types of investments. Equity securities include investments in companies located both in and outside the United States. Equity securities in the defined benefit pension plans do not include Company common stock contributed directly by the Company. Fixed income securities include corporate bonds of companies from diversified industries, government bonds, mortgage notes and pledge letters. Other types of investments include investments in mutual funds, insurance contracts, hedge funds and real estate. These plan assets are not recorded in the Company’s Consolidated Balance Sheet as they are held in trust or other off-balance sheet investment vehicles.

The defined benefit pension plan assets maintained in Austria, Germany, Norway, the Netherlands, Switzerland and Taiwan all have separate investment policies but generally have an objective to achieve a long-term rate of return in excess of 2% while at the same time mitigating the impact of investment risk associated with investment categories that are expected to yield greater than average returns. In accordance with the investment policies, the plans’ assets were invested in the following investment categories: interest-bearing cash, U.S. and foreign equities, foreign fixed income securities (primarily corporate and government bonds), insurance company contracts, real estate and hedge funds.

Reconciliation of changes in the defined benefit obligations, fair value of assets and statement of funded status were as follows:




	Year Ended December 31,
(in millions)	2023		2022

Change in Benefit Obligation
Benefit obligation at beginning of year	$	440	$	619
Service cost	10		12
Interest cost	14		5
Participant contributions	4		4
Actuarial losses (gains)	38		(149)


Effect of exchange rate changes	26		(35)

Plan curtailments and settlements	—		(1)
Benefits paid	(21)		(15)
Benefit obligation at end of year	$	511	$	440

Change in Plan Assets
Fair value of plan assets at beginning of year	$	182	$	212
Actual return on assets	10		(28)
Plan settlements	—		(1)

Effect of exchange rate changes	17		(5)
Employer contributions	15		15
Participant contributions	4		4
Benefits paid	(21)		(15)
Fair value of plan assets at end of year	$	207	$	182

Funded status at end of year	$	(304)	$	(258)

The amounts recognized in the accompanying Consolidated Balance Sheets, net of tax effects, were as follows:


	Location In The	Year Ended December 31,
(in millions)	Consolidated Balance Sheets	2023		2022

Other noncurrent assets, net	Other noncurrent assets	$	5	$	9
Deferred tax asset	Other noncurrent assets	11		6
Total assets		$	16	$	15

Current liabilities	Accrued liabilities	$	(11)	$	(10)
Other noncurrent liabilities	Other noncurrent liabilities	(298)		(257)
Deferred tax liability	Deferred income taxes	(2)		(5)
Total liabilities		$	(311)	$	(272)

Accumulated other comprehensive income	Accumulated other comprehensive loss	36		7
Net amount recognized		$	(259)	$	(250)

Amounts recognized in AOCI were as follows:



	Year Ended December 31,
(in millions)	2023		2022

Net actuarial loss	$	48	$	12
Net prior service cost	(3)		(4)
Before tax AOCI	$	45	$	8
Less: Deferred taxes	9		1
Net of tax AOCI	$	36	$	7

Information for pension plans with a projected or accumulated benefit obligation in excess of plan assets were as follows:


	Year Ended December 31,
(in millions)	2023		2022

Projected benefit obligation	$	323	$	283
Accumulated benefit obligation	310		272
Fair value of plan assets	15		15

Components of net periodic benefit cost were as follows:


	Year Ended December 31,						Location in the Consolidated Statements of Operations
(in millions)	2023		2022		2021

Service cost	$	4	$	5	$	7	Cost of products sold
Service cost	6		7		10		Selling, general and administrative expenses
Interest cost	14		5		3		Other expense (income), net
Expected return on plan assets	(6)		(4)		(4)		Other expense (income), net

Amortization of prior service credit	(1)		(1)		(1)		Other expense (income), net
Amortization of net actuarial loss	—		8		12		Other expense (income), net
Acquisitions/Divestitures	—		—		1		Other expense (income), net
Curtailment and settlement gains	—		(1)		(1)		Other expense (income), net

Net periodic benefit cost	$	17	$	19	$	27

Other changes in plan assets and benefit obligations recognized in AOCI were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

Net actuarial losses (gains)	$	37	$	(125)	$	(36)


Amortization	1		(7)		(11)
Total recognized in AOCI	$	38	$	(132)	$	(47)
Total recognized in net periodic benefit cost and AOCI	$	55	$	(113)	$	(20)

Assumptions

The weighted average assumptions used to determine benefit obligations for the Company’s plans, principally in foreign locations were as follows:


	Year Ended December 31,
	2023		2022		2021

Interest crediting rate	2.3	%	2.5	%	1.3	%
Discount rate	2.6	%	3.2	%	1.1	%
Rate of compensation increase	2.5	%	2.6	%	2.6	%

The weighted average assumptions used to determine net periodic benefit cost for the Company’s plans, principally in foreign locations were as follows:


	Year Ended December 31,
	2023		2022		2021

Interest crediting rate	2.5	%	1.3	%	1.3	%
Discount rate	3.2	%	1.1	%	0.6	%
Expected return on plan assets	3.2	%	2.2	%	2.2	%
Rate of compensation increase	2.6	%	2.6	%	2.4	%
Measurement date	12/31/2023		12/31/2022		12/31/2021

To develop the assumptions for the expected long-term rate of return on assets, the Company considered the current level of expected returns on risk free investments (primarily U.S. government bonds), the historical level of the risk premium associated with the other asset classes in which the assets are invested and the expectations for future returns of each asset class. The expected return for each asset class was then weighted based on the target asset allocations to develop the assumptions for the expected long-term rate of return on assets.

Fair Value Measurements of Plan Assets


	December 31, 2023
(in millions)	Total		Level 1		Level 2		Level 3

Assets Category
Cash and cash equivalents	$	7	$	7	$	—	$	—
Equity securities:

International	63		63		—		—
Fixed income securities:
Fixed rate bonds (a)	84		84		—		—
Other types of investments:
Mutual funds (b)	19		19		—		—


Insurance contracts	26		—		—		26
Hedge funds	7		—		—		7
Real estate	1		—		—		1
Total	$	207	$	173	$	—	$	34


	December 31, 2022
(in millions)	Total		Level 1		Level 2		Level 3

Assets Category
Cash and cash equivalents	$	15	$	15	$	—	$	—
Equity securities:

International	49		49		—		—
Fixed income securities:
Fixed rate bonds (a)	67		67		—		—
Other types of investments:
Mutual funds (b)	17		17		—		—


Insurance contracts	24		—		—		24
Hedge funds	9		—		—		9
Real estate	1		—		—		1
Total	$	182	$	148	$	—	$	34

(a) This category includes fixed income securities invested primarily in Swiss bonds, foreign bonds denominated in Swiss francs, foreign currency bonds, mortgage notes and pledged letters.

A reconciliation from December 31, 2021 to December 31, 2023 for the plan assets categorized as Level 3 were as follows:


(in millions)	Insurance Contracts		Hedge Funds		Real Estate		Total

Balance at December 31, 2021	$	34	$	11	$	1	$	46
Actual return on plan assets:
Relating to assets still held at the reporting date	(5)		(1)		—		(6)


Purchases, sales and settlements, net	(2)		(1)		—		(3)

Effect of exchange rate changes	(3)		—		—		(3)
Balance at December 31, 2022	$	24	$	9	$	1	$	34
Actual return on plan assets:
Relating to assets still held at the reporting date	$	2	$	—	$	—	$	2


Purchases, sales and settlements, net	(1)		(3)		—		(4)

Effect of exchange rate changes	1		1		—		2
Balance at December 31, 2023	$	26	$	7	$	1	$	34

Fair values for Level 3 assets are determined as follows:

Insurance Contracts: The value of the asset represents the mathematical reserve of the insurance policies and is calculated by the insurance firms using their own assumptions.

Hedge Funds: The investments are valued using the net asset value provided by the administrator of the fund, which is based on the fair value of the underlying securities.

Real Estate: Investment is stated by its appraised value.

Cash Flows

In 2024, the Company expects to make employer contributions of $18 million to its defined benefit pension plans.

Estimated Future Benefit Payments

Total benefits expected to be paid from the plans in the future are as follows:


(in millions)	Pension Benefits

2024	$	26
2025	27
2026	26
2027	27
2028	24
2029-2033	124

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

FINANCIAL INSTRUMENTS AND DERIVATIVES - NOTIONAL AMOUNTS OF OUTSTANDING DERIVATIVE POSITIONS (Details) € in Millions, $ in Millions	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Jul. 01, 2021 USD ($)
Not Designated as Hedging Instrument
Derivative [Line Items]
Aggregate Notional Amount	$ 658
Aggregate Notional Amount Maturing within 12 Months	658
Cash Flow Hedges \| Designated as Hedging Instrument
Derivative [Line Items]
Aggregate Notional Amount	23
Aggregate Notional Amount Maturing within 12 Months	23
Hedges of Net Investments \| Designated as Hedging Instrument
Derivative [Line Items]
Aggregate Notional Amount	1,185
Aggregate Notional Amount Maturing within 12 Months	88
Fair Value Hedges \| Designated as Hedging Instrument
Derivative [Line Items]
Aggregate Notional Amount	274
Aggregate Notional Amount Maturing within 12 Months	24
Foreign exchange forward contracts \| Not Designated as Hedging Instrument
Derivative [Line Items]
Aggregate Notional Amount	658
Aggregate Notional Amount Maturing within 12 Months	658
Foreign exchange forward contracts \| Cash Flow Hedges \| Designated as Hedging Instrument
Derivative [Line Items]
Aggregate Notional Amount	23
Aggregate Notional Amount Maturing within 12 Months	23
Foreign exchange forward contracts \| Hedges of Net Investments \| Designated as Hedging Instrument
Derivative [Line Items]
Aggregate Notional Amount \| €		€ 890
Aggregate Notional Amount Maturing within 12 Months \| €		€ 88
Foreign exchange forward contracts \| Fair Value Hedges \| Designated as Hedging Instrument
Derivative [Line Items]
Aggregate Notional Amount	24
Aggregate Notional Amount Maturing within 12 Months	24
Cross currency basis swaps \| Hedges of Net Investments \| Designated as Hedging Instrument
Derivative [Line Items]
Aggregate Notional Amount	295
Aggregate Notional Amount Maturing within 12 Months	0
Interest rate swaps
Derivative [Line Items]
Aggregate Notional Amount			$ 250
Interest rate swaps \| Fair Value Hedges \| Designated as Hedging Instrument
Derivative [Line Items]
Aggregate Notional Amount	250
Aggregate Notional Amount Maturing within 12 Months	$ 0

INCOME TAXES - THE RECONCILIATION OF THE U.S. FEDERAL STATUTORY TAX RATE TO THE EFFECTIVE RATE (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory U.S. federal income tax rate	$ (37)	$ (222)	$ 114
State income taxes, net of federal benefit	(2)	(11)	4
Federal benefit of R&D and foreign tax credits	(17)	(8)	(5)
US other permanent differences	5	9	2
Tax effect of international operations	(65)	(5)	2
Global Intangible Low Taxed Income (GILTI)	12	20	13
Foreign Derived Intangible Income (FDII)	(9)	(8)	(7)
Net effect of tax audit activity	(6)	15	9
Tax effect of enacted statutory rate changes on Non-U.S. jurisdictions	1	(3)	10
Federal tax on unremitted earnings of certain foreign subsidiaries	2	1	(1)
Valuation allowance adjustments	5	(9)	(9)
Tax effect of impairment of goodwill and intangibles	60	114	0
Other	8	2	2
Total (benefit) provision for income taxes	$ (43)	$ (105)	$ 134
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory U.S. federal income tax rate	21.00%	21.00%	21.00%
State income taxes, net of federal benefit	1.40%	1.00%	0.80%
Federal benefit of R&D and foreign tax credits	10.00%	0.80%	(0.90%)
US other permanent differences	(0.027)	(0.009)	0.004
Tax effect of international operations	37.20%	0.50%	0.30%
Global Intangible Low Taxed Income (GILTI)	(7.00%)	(1.90%)	2.40%
Foreign Derived Intangible Income (FDII)	5.20%	0.80%	(1.30%)
Net effect of tax audit activity	3.20%	(1.40%)	1.60%
Tax effect of enacted statutory rate changes on Non-U.S. jurisdictions	(0.40%)	0.30%	1.90%
Federal tax on unremitted earnings of certain foreign subsidiaries	(0.90%)	(0.10%)	(0.20%)
Valuation allowance adjustments	(3.20%)	0.80%	(1.70%)
Tax effect of impairment of goodwill and intangibles	(34.60%)	(10.80%)	0.00%
Other	(4.40%)	(0.20%)	0.30%
Effective income tax rate on operations	24.80%	9.90%	24.60%

BENEFIT PLANS - COMPONENETS OF NET PERIODIC BENEFIT COST (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 10	$ 12
Interest cost	14	5	$ 3
Expected return on plan assets	(6)	(4)	(4)
Amortization of prior service credit	(1)	(1)	(1)
Amortization of net actuarial loss	0	8	12
Acquisitions/Divestitures	0	0	1
Curtailment and settlement gains	0	(1)	(1)
Net periodic benefit cost	$ 17	19	27
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Curtailment Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)
Cost of products sold
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 4	5	7
Selling, general and administrative expenses
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 6	$ 7	$ 10

SEGMENT AND GEOGRAPHIC INFORMATION - NET SALES AND LONG LIVED ASSETS BY GEOGRAPHIC LOCATION (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 3,965	$ 3,922	$ 4,231
Property, plant, and equipment, net	800	761	773
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	1,437	1,393	1,484
Property, plant, and equipment, net	194	174	166
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	431	447	482
Property, plant, and equipment, net	260	275	309
Sweden
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant, and equipment, net	105	98	107
Other Foreign
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	2,097	2,082	2,265
Property, plant, and equipment, net	$ 241	$ 214	$ 191

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

FINANCING ARRANGEMENTS - SHORT TERM BORROWINGS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Short-term Debt [Line Items]
Total short-term debt	$ 322	$ 118
Add: Current portion of long-term debt	77	1
Maximum month-end short-term debt outstanding during the year	399	395
Average amount of short-term debt outstanding during the year	$ 284	$ 289
Weighted-average interest rate on short-term debt at year-end	5.70%	5.00%
Corporate commercial paper facility
Short-term Debt [Line Items]
Total short-term debt	$ 225	$ 95
Fixed interest rate	5.80%	5.10%
Other short-term borrowings
Short-term Debt [Line Items]
Total short-term debt	$ 20	$ 22
Fixed interest rate	4.90%	4.60%
Uncommitted Short-Term Financing
Short-term Debt [Line Items]
Total short-term debt	$ 44

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment, Net

Except for leasehold improvements, depreciation and amortization is computed by the straight-line method over the assets estimated useful lives:


Property, Plant and Equipment Assets Type						Useful Life
Buildings						40 years
Machinery and Equipment						4 to 15 years
Capitalized Software						2 to 10 years
Leasehold Improvements						Shorter of the estimated useful life or the term of the lease

Property, plant and equipment, net, were as follows:


	Year Ended December 31,
(in millions)	2023		2022

Land	$	49	$	48
Buildings and improvements	568		546
Machinery and equipment	964		963
Capitalized software	446		400
Construction in progress	138		116
	$	2,165	$	2,073
Less: Accumulated depreciation and amortization	1,365		1,312
Property, plant and equipment, net	$	800	$	761

BENEFIT PLANS - ESTIMATED FUTURE BENEFIT PAYMENTS (Details) $ in Millions	Dec. 31, 2023 USD ($)
Retirement Benefits [Abstract]
2024	$ 26
2025	27
2026	26
2027	27
2028	24
2029-2033	$ 124

INVENTORIES, NET

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

INVENTORIES, NET

Inventories, net were as follows:


	Year Ended December 31,
(in millions)	2023		2022

Raw materials and supplies	$	185	$	169
Work-in-process	77		77
Finished goods	362		381


Inventories, net	$	624	$	627

The Company’s inventory reserve was $107 million and $83 million at December 31, 2023 and 2022, respectively. Inventories are stated at the lower of cost and net realizable value.

BENEFIT PLANS - PENSION BENEFITS AND OTHER POSTRETIREMENT BENEFITS RECOGNIZED IN THE ACCOMPANYING CONSOLIDATED BALANCE SHEETS (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Other noncurrent assets, net	$ 5	$ 9
Deferred tax asset	11	6
Total assets	16	15
Current liabilities	(11)	(10)
Other noncurrent liabilities	(298)	(257)
Deferred tax liability	(2)	(5)
Total liabilities	(311)	(272)
Accumulated other comprehensive income	36	7
Net amount recognized	$ (259)	$ (250)

LEASES - CONTRACTUAL MATURITY DATES (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Finance Leases
2024	$ 0
2025	1
2026	0
2027	0
2028	0
2029 and beyond	0
Total lease payments	1
Less imputed interest	0
Present value of lease liabilities	1
Operating Leases
2024	62
2025	45
2026	32
2027	21
2028	16
2029 and beyond	23
Total lease payments	199
Less imputed interest	18
Present value of lease liabilities	181
Total
2024	62
2025	46
2026	32
2027	21
2028	16
2029 and beyond	23
Total lease payments	200
Less imputed interest	18
Total lease liabilities	$ 182	$ 205

INVENTORIES, NET (Tables)

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Inventories, Net

Inventories, net were as follows:


	Year Ended December 31,
(in millions)	2023		2022

Raw materials and supplies	$	185	$	169
Work-in-process	77		77
Finished goods	362		381


Inventories, net	$	624	$	627

REVENUE - ADDITIONAL INFORMATION (Details) $ in Millions	12 Months Ended
REVENUE - ADDITIONAL INFORMATION (Details) $ in Millions	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)
Disaggregation of Revenue [Line Items]
Number of reportable segments \| segment	4
Deferred income	$ 91	$ 84
Deferred revenue, noncurrent	57	27
Deferred revenue recognized during the year	68	59
Allowances for doubtful accounts and trade discounts	$ 17	14
Accrued Liabilities
Disaggregation of Revenue [Line Items]
Deferred income		$ 91

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

SEGMENT AND GEOGRAPHIC INFORMATION - NET SALES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue, Major Customer [Line Items]
Total net sales	$ 3,965	$ 3,922	$ 4,231
Connected Technology Solutions
Revenue, Major Customer [Line Items]
Total net sales	1,169	1,219	1,348
Essential Dental Solutions
Revenue, Major Customer [Line Items]
Total net sales	1,468	1,427	1,516
Orthodontic and Implant Solutions
Revenue, Major Customer [Line Items]
Total net sales	1,040	1,006	1,064
Wellspect Healthcare
Revenue, Major Customer [Line Items]
Total net sales	$ 288	$ 270	$ 303

- Definition

+ References

+ Details

AUDIT INFORMATION	12 Months Ended
AUDIT INFORMATION	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Charlotte, North Carolina
Auditor Firm ID	238

PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net, were as follows:


	Year Ended December 31,
(in millions)	2023		2022

Land	$	49	$	48
Buildings and improvements	568		546
Machinery and equipment	964		963
Capitalized software	446		400
Construction in progress	138		116
	$	2,165	$	2,073
Less: Accumulated depreciation and amortization	1,365		1,312
Property, plant and equipment, net	$	800	$	761

FINANCIAL INSTRUMENTS AND DERIVATIVES - GAIN (LOSS) RECORDED IN AOCI IN THE CONSOLIDATED STATEMENTS OF OPERATIONS (Details) - Designated as Hedging Instrument - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Foreign exchange forward contracts \| Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in AOCI	$ 0	$ (1)	$ 3
Amount of Gain or (Loss) Reclassified from AOCI into Income	(1)	3	(3)
Foreign exchange forward contracts \| Hedges of Net Investments
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in AOCI	(29)	11	10
Amount of Gain or (Loss) Reclassified from AOCI into Income	0	0	0
Foreign exchange forward contracts \| Fair Value Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in AOCI	2	(2)	(1)
Amount of Gain or (Loss) Reclassified from AOCI into Income	0	0	0
Cross currency basis swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in AOCI	(3)
Cross currency basis swaps \| Hedges of Net Investments
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in AOCI	(18)	30	13
Amount of Gain or (Loss) Reclassified from AOCI into Income	0	0	0
Interest rate swaps \| Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in AOCI	0	0	0
Amount of Gain or (Loss) Reclassified from AOCI into Income	(3)	(3)	(4)
Interest rate swaps \| Fair Value Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in AOCI	0	0	0
Amount of Gain or (Loss) Reclassified from AOCI into Income	$ 0	$ 0	$ 0

OTHER EXPENSE (INCOME) , NET (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Income and Expenses [Abstract]
Foreign exchange transaction (gain) loss	$ (3)	$ 6	$ (12)
Other expense (income), net	12	47	14
Total other expense (income), net	$ 9	$ 53	$ 2

STOCK COMPENSATION - NON-QUALIFIED STOCK OPTION TRANSACTIONS (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shares
Exercised (in shares)		(0.1)	(1.1)
Nonqualified Stock Options
Shares
Beginning balance (in shares)	3.0
Granted (in shares)	0.7
Exercised (in shares)	0.0
Cancelled (in shares)	(0.7)
Forfeited (in shares)	(0.4)
Ending balance (in shares)	2.6	3.0
Weighted Average Exercise Price
Beginning balance (in dollars per share)	$ 51.64
Granted (in dollars per share)	38.67
Exercised (in dollars per share)	39.77
Cancelled (in dollars per share)	51.08
Forfeited (in dollars per share)	52.10
Ending balance (in dollars per share)	$ 48.11	$ 51.64
Aggregate Intrinsic Value
Balance	$ 1	$ 0
Exercisable
Shares at year end (in shares)	1.6	1.9
Weighted Average Exercise Price Exercisable (in dollars per share)	$ 52.55	$ 52.43
Aggregate Intrinsic Value	$ 0	$ 0
Expected to Vest
Shares at year end (in shares)	1.0	1.1
Weighted Average Exercise Price Expected to Vest (in dollars per share)	$ 41.41	$ 50.21
Aggregate Intrinsic Value	$ 1	$ 0

EQUITY - ACCELERATED SHARE REPURCHASE PROGRAM (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions			1 Months Ended	2 Months Ended	12 Months Ended
	Apr. 28, 2023	Mar. 03, 2023	Mar. 31, 2023	Apr. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Amount Paid	$ 150		$ 120
Initial Delivery
Shares Received (in shares)		3.1	3.1	0.8
Price per share (in dollars per share)		$ 38.74	$ 38.74
Value of Shares as a % of Contract Value		80.00%
Final Settlement
Total Shares Received (in shares)	3.9			3.9	8.8	3.1	3.5
Average Price per Share (in dollars per share)	$ 38.55

LEASES - SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$ 68	$ 66	$ 65
Right-of-use assets obtained in exchange for new lease liabilities:
Finance leases	0	0	1
Operating leases	$ 36	$ 57	$ 79

INCOME TAXES

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

The components of (loss) income before income taxes were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

United States	$	(6)	$	(531)	$	51
Foreign	(169)		(524)		494
Total (loss) income before income taxes	$	(175)	$	(1,055)	$	545

The components of the (benefit) provision for income taxes from operations were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

Current:
U.S. federal	$	1	$	1	$	1
U.S. state	—		4		4
Foreign	86		118		154
Total	$	87	$	123	$	159

Deferred:
U.S. federal	$	4	$	(145)	$	10
U.S. state	(3)		(17)		2
Foreign	(131)		(66)		(37)
Total	$	(130)	$	(228)	$	(25)

Total (benefit) provision for income taxes	$	(43)	$	(105)	$	134

The reconciliation of the U.S. federal statutory tax rate to the effective rate were as follows:


	Year Ended December 31,
(in millions, except percentages)	2023				2022				2021

Statutory U.S. federal income tax rate	$	(37)	21.0	%	$	(222)	21.0	%	$	114	21.0	%
Effect of:
State income taxes, net of federal benefit	(2)		1.4		(11)		1.0		4		0.8
Federal benefit of R&D and foreign tax credits	(17)		10.0		(8)		0.8		(5)		(0.9)
US other permanent differences	5		(2.7)		9		(0.9)		2		0.4
Tax effect of international operations	(65)		37.2		(5)		0.5		2		0.3
Global Intangible Low Taxed Income (GILTI)	12		(7.0)		20		(1.9)		13		2.4
Foreign Derived Intangible Income (FDII)	(9)		5.2		(8)		0.8		(7)		(1.3)
Net effect of tax audit activity	(6)		3.2		15		(1.4)		9		1.6
Tax effect of enacted statutory rate changes on Non-U.S. jurisdictions	1		(0.4)		(3)		0.3		10		1.9
Federal tax on unremitted earnings of certain foreign subsidiaries	2		(0.9)		1		(0.1)		(1)		(0.2)
Valuation allowance adjustments	5		(3.2)		(9)		0.8		(9)		(1.7)
Tax effect of impairment of goodwill and intangibles	60		(34.6)		114		(10.8)		—		—
Other	8		(4.4)		2		(0.2)		2		0.3

Effective income tax rate on operations	$	(43)	24.8	%	$	(105)	9.9	%	$	134	24.6	%

The tax effect of significant temporary differences giving rise to deferred tax assets and liabilities were as follows:


	Year Ended December 31,
(in millions)	2023		2022

Deferred tax assets
Employee benefit accruals	$	55	$	55
Inventory	15		9
Miscellaneous accruals	51		37
Other	44		48
Lease right-of-use liability	46		48
Net unrealized gains/losses included in AOCI	36		—
Foreign tax credit and R&D carryforward	43		40
Tax loss carryforwards and other tax attributes	948		654
Total deferred tax assets	$	1,238	$	891
Less: Valuation allowances	(863)		(645)
Total deferred tax assets, net	$	375	$	246

Deferred tax liabilities
Identifiable intangible assets	$	(298)	$	(325)
Property, plant and equipment	(38)		(41)
Lease right-of-use asset	(46)		(47)
Net unrealized gains/losses included in AOCI	—		(13)
Taxes on unremitted earnings of foreign subsidiaries	(8)		(6)
Total deferred tax liabilities	(390)		(432)
Net deferred tax liabilities	$	(15)	$	(186)

Deferred tax assets and liabilities are included in the following Consolidated Balance Sheets line items at December 31 were as follows:


	Year Ended December 31,
(in millions)	2023		2022

Assets
Other noncurrent assets	$	213	$	101
Liabilities
Deferred income taxes	$	228	$	287

The Company has $40 million of foreign tax credit carryforwards at December 31, 2023, of which $33 million will expire in 2025 and $7 million will expire at various times from 2028 through 2031.

The Company has tax loss carryforwards related to certain foreign and domestic subsidiaries of approximately $3,889 million at December 31, 2023, of which $3,671 million expires at various times through 2043 and $218 million may be carried forward indefinitely. These are reflected as deferred income tax assets at December 31, 2023, comprising of tax benefits of $873 million and $74 million, before valuation allowances, related to tax loss carryforwards and disallowed interest carryforwards, respectively. As of December 31, 2022 the Company’s deferred tax assets included $601 million of tax loss carryforwards and $53 million of disallowed interest carryforwards. The increase in tax loss carryforwards in 2023 is primarily a result of impairment losses.

At December 31, 2023, the Company has recorded $791 million of valuation allowance to offset the tax benefit of net operating losses, $40 million to offset the tax benefit of foreign tax credits, and $32 million of valuation allowance for other deferred tax assets. The Company has recorded these valuation allowances due to the uncertainty that these assets can be realized in the future. The increase in the valuation allowance is attributable to the increase in the tax loss carryforwards generated in 2023 as there is uncertainty that these assets can be realized in the future.

The Company has provided $8 million of withholding taxes on certain undistributed earnings of its foreign subsidiaries that the Company anticipates will be repatriated. Undistributed earnings of foreign subsidiaries and related companies that are considered to be permanently invested amounted to $2,303 million at December 31, 2023 and $2,492 million at December 31, 2022.

Tax Contingencies

The total amount of gross unrecognized tax benefits at December 31, 2023 is approximately $136 million, including interest of which, approximately $40 million represents the amount of unrecognized tax benefits that, if recognized, would affect the effective income tax rate. It is reasonably possible that certain amounts of unrecognized tax benefits will significantly increase or decrease within twelve months of the reporting date of the Company’s consolidated financial statements. Expiration of statutes of limitations in various jurisdictions during the next twelve months could include unrecognized tax benefits of approximately $1 million, which, if recognized, would affect the effective income tax rate.

The total amount of accrued interest and penalties were $4 million and $6 million at December 31, 2023 and 2022, respectively. The Company has consistently classified interest and penalties recognized in its consolidated financial statements as income taxes based on the accounting policy election of the Company. The Company recognized a tax benefit of $2 million for the years ended December 31, 2023 and 2022 related to interest and penalties.

The increase in unrecognized tax benefits in 2023 is primarily related to a gain generated from an internal debt structuring in 2023. If this benefit was recognized, it would result in a reduction to deferred tax assets related to tax loss carryforwards, with an equal and offsetting reduction to the valuation allowance. Thus, the release of this reserve would not impact the effective tax rate.

The Company is subject to U.S. federal income tax as well as income tax of multiple state and foreign jurisdictions. The significant jurisdictions include the United States, Germany, Sweden and Switzerland. The Company has concluded all U.S. federal income tax matters for years through 2014 with the Internal Revenue Service (“IRS”). The Company is currently under audit for the tax years 2015 and 2016. For additional information on the IRS audit, see Note 21, Commitments and Contingencies. The Company concluded audits in Germany through the tax year 2014 and is currently under audit for the years 2015 through 2017. The tax years 2018 through 2021 are subject to future potential audit adjustments in Germany.

The activity recorded for unrecognized tax benefits were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

Unrecognized tax benefits at beginning of period	$	49	$	34	$	27
Gross change for prior-period positions	1		12		6
Gross change for current year positions	95		4		2


Decrease due to settlements and payments	(9)		—		—
Decrease due to statute expirations	(4)		—		—

Decrease due to effect from foreign currency translation	—		(1)		(1)

Unrecognized tax benefits at end of period	$	132	$	49	$	34

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par or stated value per share (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized (in shares)	250,000	250,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par or stated value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	400,000,000.0	400,000,000.0
Common stock, shares issued (in shares)	264,500,000	264,500,000
Common stock, shares outstanding (in shares)	207,200,000	215,200,000
Treasury stock, shares (in shares)	57,300,000	49,300,000

STOCK COMPENSATION - INFORMATION ABOUT NON-QUALIFIED STOCK OPTIONS OUTSTANDING (Details) - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Remaining Contractual Life (in years)	5 years 8 months 12 days
Nonqualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number Outstanding (in shares)	2.6	3.0
Weighted Average Exercise Price (in dollars per share)	$ 48.11	$ 51.64
Number Exercisable (in shares)	1.6	1.9
Weighted Average Exercise Price Exercisable (in dollars per share)	$ 52.55	$ 52.43
Nonqualified Stock Options \| Exercise Prices: $30.01 - $40.00
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Prices, lower range limit (in dollars per share)	30.01
Range of Exercise Prices, upper range limit (in dollars per share)	$ 40.00
Number Outstanding (in shares)	0.8
Weighted Average Remaining Contractual Life (in years)	9 years 1 month 6 days
Weighted Average Exercise Price (in dollars per share)	$ 37.13
Number Exercisable (in shares)	0.0
Weighted Average Exercise Price Exercisable (in dollars per share)	$ 30.97
Nonqualified Stock Options \| Exercise Prices: $40.01 - $50.00
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Prices, lower range limit (in dollars per share)	40.01
Range of Exercise Prices, upper range limit (in dollars per share)	$ 50.00
Number Outstanding (in shares)	0.6
Weighted Average Remaining Contractual Life (in years)	3 years 8 months 12 days
Weighted Average Exercise Price (in dollars per share)	$ 47.32
Number Exercisable (in shares)	0.6
Weighted Average Exercise Price Exercisable (in dollars per share)	$ 47.50
Nonqualified Stock Options \| Exercise Prices: $50.01 - $60.00
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Prices, lower range limit (in dollars per share)	50.01
Range of Exercise Prices, upper range limit (in dollars per share)	$ 60.00
Number Outstanding (in shares)	0.9
Weighted Average Remaining Contractual Life (in years)	4 years 8 months 12 days
Weighted Average Exercise Price (in dollars per share)	$ 55.29
Number Exercisable (in shares)	0.7
Weighted Average Exercise Price Exercisable (in dollars per share)	$ 55.44
Nonqualified Stock Options \| Exercise Prices: $60.01 - $70.00
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of Exercise Prices, lower range limit (in dollars per share)	60.01
Range of Exercise Prices, upper range limit (in dollars per share)	$ 70.00
Number Outstanding (in shares)	0.3
Weighted Average Remaining Contractual Life (in years)	2 years 6 months
Weighted Average Exercise Price (in dollars per share)	$ 62.33
Number Exercisable (in shares)	0.3
Weighted Average Exercise Price Exercisable (in dollars per share)	$ 62.29

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME OR LOSS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (132)	$ (950)	$ 411
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	49	(156)	(181)
Net (loss) gain on derivative financial instruments	(30)	29	25
Pension liability adjustments	(27)	91	26
Total other comprehensive loss	(8)	(36)	(130)
Total comprehensive (loss) income	(140)	(986)	281
Less: Comprehensive (loss) income attributable to noncontrolling interests	0	0	(2)
Comprehensive (loss) income attributable to Dentsply Sirona	$ (140)	$ (986)	$ 283

BENEFIT PLANS - WEIGHTED AVERAGE ASSUMPTIONS USED TO DETERMINE NET PERIODIC BENEFIT COST TREND RATES (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Interest crediting rate	2.50%	1.30%	1.30%
Discount rate	3.20%	1.10%	0.60%
Expected return on plan assets	3.20%	2.20%	2.20%
Rate of compensation increase	2.60%	2.60%	2.40%

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Intangible Assets

The Company uses the following useful lives for its definite-lived intangible assets:


Definite-Lived Intangible Asset Type						Useful Life

Patents						Up to the date the patent expires
Tradenames and trademarks						Up to 20 years
Licensing agreements						Up to 20 years
Customer relationships						Up to 15 years
Developed technology						Up to 15 years

Schedule of Property, Plant and Equipment

Except for leasehold improvements, depreciation and amortization is computed by the straight-line method over the assets estimated useful lives:


Property, Plant and Equipment Assets Type						Useful Life
Buildings						40 years
Machinery and Equipment						4 to 15 years
Capitalized Software						2 to 10 years
Leasehold Improvements						Shorter of the estimated useful life or the term of the lease

Property, plant and equipment, net, were as follows:


	Year Ended December 31,
(in millions)	2023		2022

Land	$	49	$	48
Buildings and improvements	568		546
Machinery and equipment	964		963
Capitalized software	446		400
Construction in progress	138		116
	$	2,165	$	2,073
Less: Accumulated depreciation and amortization	1,365		1,312
Property, plant and equipment, net	$	800	$	761

Schedule of Warranty Expense and Accrual

The Company’s warranty expense and warranty accrual were as follows:


	December 31,
(in millions)	2023		2022		2021

Warranty Expense	$	48	$	27	$	44
Warranty Accrual	24		22		28

PREPAID EXPENSES AND OTHER CURRENT ASSETS

12 Months Ended

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets were as follows:


	Year Ended December 31,
(in millions)	2023		2022

Prepaid expenses	$	113	$	104
Value-added tax receivable	61		53
Deposits	33		24
Other current assets	113		88
Prepaid expenses and other current assets	$	320	$	269

STOCK COMPENSATION - UNVESTED RSU TRANSACTIONS (Details) - Restricted Stock Units (RSUs) - $ / shares shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shares
Beginning balance, unvested (in shares)	4.4
Granted (in shares)	1.7
Vested (in shares)	(0.8)
Forfeited (in shares)	(1.7)
Ending balance, unvested (in shares)	3.6	4.4
Weighted Average Grant Date Fair Value
Beginning balance, unvested (in dollars per share)	$ 45.63
Granted (in dollars per share)	40.91	$ 39.73	$ 63.61
Vested (in dollars per share)	40.04
Forfeited (in dollars per share)	49.19
Ending balance, unvested (in dollars per share)	$ 42.95	$ 45.63

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

Description of Business

DENTSPLY SIRONA Inc. (“Dentsply Sirona” or the “Company”), is the world’s largest manufacturer of dental products and technologies, with a 137-year history of innovation and service to the dental industry and patients worldwide. The Company’s principal product categories include dental consumable products, dental equipment, dental technologies and continence care consumable products. The Company sells its products in over 150 countries under some of the most well-established brand names in the industry.

Basis of Presentation

Use of Estimates

Cash and Cash Equivalents

Short-term Investments

Short-term investments are highly liquid time deposits with original maturities greater than ninety days and with remaining maturities of one year or less.

Accounts Receivable

Inventories

Inventories are stated at the lower of cost and net realizable value. The cost of inventories is based upon the first-in, first-out method (“FIFO”) or average cost methods.

The Company establishes reserves for inventory estimated to be excess, obsolete or unmarketable based upon assumptions about future demand, market conditions, and expiration of products.

Valuation of Goodwill and Indefinite-Lived and Definite-Lived Intangible Assets

Goodwill

Indefinite-Lived Intangible Assets

Definite-Lived Intangible Assets


Definite-Lived Intangible Asset Type						Useful Life

Patents						Up to the date the patent expires
Tradenames and trademarks						Up to 20 years
Licensing agreements						Up to 20 years
Customer relationships						Up to 15 years
Developed technology						Up to 15 years

Property, Plant and Equipment


Property, Plant and Equipment Assets Type						Useful Life
Buildings						40 years
Machinery and Equipment						4 to 15 years
Capitalized Software						2 to 10 years
Leasehold Improvements						Shorter of the estimated useful life or the term of the lease

Leases

Derivative Financial Instruments

Pension and Other Postemployment Benefits

Accruals for Self-Insured Losses

Litigation

Foreign Currency Translation

Foreign currency gains and losses arising from transactions denominated in a currency other than the functional currency of the entity involved are included within Other expense (income), net in the Consolidated Statements of Operations. During the years ended December 31, 2023, 2022, and 2021, the Company had a net foreign currency gain of $3 million, loss of $6 million and gain of $12 million, respectively.

Revenue Recognition

Additional information and disclosure regarding revenue recognition is provided in Note 2, Revenue.

Cost of Products Sold

Warranties


	December 31,
(in millions)	2023		2022		2021

Warranty Expense	$	48	$	27	$	44
Warranty Accrual	24		22		28

Selling, General and Administrative Expenses

Research and Development Costs

Stock Compensation

Income Taxes

Earnings Per Share

Business Acquisitions

For the year ended December 31, 2021, the Company incurred acquisition-related costs of $8 million, consisting primarily of legal and professional fees, which were recorded in SG&A expenses in the Consolidated Statements of Operations. These costs were not material for the years ended December 31, 2023 and 2022.

Investments in Unconsolidated Affiliates

Noncontrolling Interests

Segment Reporting

Fair Value Measurement

Recurring Basis

Level 1 - Quoted prices are available in active markets for identical assets or liabilities as of the reported date.

Non-Recurring Basis

Recently Adopted Accounting Pronouncements

Accounting Pronouncements Not Yet Adopted

OTHER EXPENSE (INCOME), NET - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions			12 Months Ended
	Dec. 06, 2023	Feb. 01, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity-method net losses	$ 4		$ 4	$ 36	$ 10
Gain on sale of business			$ 0	$ (3)	14
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Investment Casting Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from the sale of businesses		$ 19
Gain on sale of business					$ 13

STOCK COMPENSATION - STOCK COMPENSATION EXPENSE RECORDED IN CONSOLIDATED STATEMENTS OF OPERATIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	$ 46	$ 59	$ 49
Related deferred income tax benefit	8	7	6
Cost of products sold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	4	3	3
Selling, general, and administrative expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	36	53	44
Research and development expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	4	3	2
Restructuring and other costs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	$ 2	$ 0	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
-Paragraph 2
-Subparagraph (a)(3)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (c)(1)(iv)(01)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

BENEFIT PLANS - PENSION PLANS WITH AN ACCUMULATED BENEFIT OBLIGATION IN EXCESS OF PLAN ASSETS (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Projected benefit obligation	$ 323	$ 283
Accumulated benefit obligation	310	272
Fair value of plan assets	$ 15	$ 15

RESTRUCTURING AND OTHER COSTS - ADDITIONAL INFORMATION (Details) $ in Millions		12 Months Ended
	Feb. 14, 2023 USD ($) segment	Dec. 31, 2023 segment
Restructuring Cost and Reserve [Line Items]
Number of operating segments \| segment	4	4
Non-Recurring Restructuring Activity
Restructuring Cost and Reserve [Line Items]
Expected cost	$ 35
Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, number of positions eliminated, period percent	8.00%
Expected cost	$ 115
Minimum \| Restructuring Expenditures and Charges
Restructuring Cost and Reserve [Line Items]
Expected cost	$ 80
Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, number of positions eliminated, period percent	10.00%
Expected cost	$ 135
Maximum \| Restructuring Expenditures and Charges
Restructuring Cost and Reserve [Line Items]
Expected cost	$ 100

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

LEASES

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

LEASES

The net present value of finance and operating lease right-of-use assets and liabilities were as follows:


		Year Ended December 31,
(in millions, except percentages)	Location in the Consolidated Balance Sheets	2023			2022

Assets
Finance leases	Property, plant, and equipment, net	$	1		$	1
Operating leases	Operating lease right-of-use assets, net	178			200
Total right-of-use assets		$	179		$	201

Liabilities
Current liabilities
Finance leases	Notes payable and current portion of long-term debt	$	—		$	1
Operating leases	Accrued liabilities	56			54
Noncurrent liabilities
Finance leases	Long-term debt	1			1
Operating leases	Operating lease liabilities	125			149
Total lease liabilities		$	182		$	205

Supplemental information:
Weighted-average discount rate
Finance leases		4.2		%	3.5		%
Operating leases		3.9		%	3.5		%

Weighted-average remaining lease term in years
Finance leases		5.2			4.1
Operating leases		4.5			5.1

The lease cost recognized in the Consolidated Statements of Operations were as follows:


	Year Ended December 31,
(in millions)	2023		2022




Operating lease cost	$	67	$	68
Short-term lease cost	—		1
Variable lease cost	15		12
Total lease cost	$	82	$	81

The contractual maturity dates of the remaining lease liabilities as of December 31, 2023 were as follows:


(in millions)	Finance Leases		Operating Leases		Total

2024	$	—	$	62	$	62
2025	1		45		46
2026	—		32		32
2027	—		21		21
2028	—		16		16
2029 and beyond	—		23		23
Total lease payments	$	1	$	199	$	200
Less imputed interest	—		18		18
Present value of lease liabilities	$	1	$	181	$	182

The supplemental cash flow information for leases were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows paid for operating leases	$	68	$	66	$	65


Right-of-use assets obtained in exchange for new lease liabilities:
Finance leases	$	—	$	—	$	1
Operating leases	36		57		79

Leases

LEASES

The net present value of finance and operating lease right-of-use assets and liabilities were as follows:


		Year Ended December 31,
(in millions, except percentages)	Location in the Consolidated Balance Sheets	2023			2022

Assets
Finance leases	Property, plant, and equipment, net	$	1		$	1
Operating leases	Operating lease right-of-use assets, net	178			200
Total right-of-use assets		$	179		$	201

Liabilities
Current liabilities
Finance leases	Notes payable and current portion of long-term debt	$	—		$	1
Operating leases	Accrued liabilities	56			54
Noncurrent liabilities
Finance leases	Long-term debt	1			1
Operating leases	Operating lease liabilities	125			149
Total lease liabilities		$	182		$	205

Supplemental information:
Weighted-average discount rate
Finance leases		4.2		%	3.5		%
Operating leases		3.9		%	3.5		%

Weighted-average remaining lease term in years
Finance leases		5.2			4.1
Operating leases		4.5			5.1

The lease cost recognized in the Consolidated Statements of Operations were as follows:


	Year Ended December 31,
(in millions)	2023		2022




Operating lease cost	$	67	$	68
Short-term lease cost	—		1
Variable lease cost	15		12
Total lease cost	$	82	$	81

The contractual maturity dates of the remaining lease liabilities as of December 31, 2023 were as follows:


(in millions)	Finance Leases		Operating Leases		Total

2024	$	—	$	62	$	62
2025	1		45		46
2026	—		32		32
2027	—		21		21
2028	—		16		16
2029 and beyond	—		23		23
Total lease payments	$	1	$	199	$	200
Less imputed interest	—		18		18
Present value of lease liabilities	$	1	$	181	$	182

The supplemental cash flow information for leases were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows paid for operating leases	$	68	$	66	$	65


Right-of-use assets obtained in exchange for new lease liabilities:
Finance leases	$	—	$	—	$	1
Operating leases	36		57		79

EQUITY

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Equity

EQUITY

On November 7, 2023, the Board of Directors approved an increase to the authorized share repurchase program of $1.0 billion. Share repurchases may be made through open market purchases, Rule 10b5-1 plans, accelerated share repurchases, privately negotiated transactions or other transactions in such amounts and at such times as the Company considers appropriate based upon prevailing market and business conditions and other factors. At December 31, 2023, the Company had authorization to repurchase $1.44 billion in shares of common stock remaining under the share repurchase program.

On March 3, 2023, the Company entered into an Accelerated Share Repurchase Agreement (“ASR Agreement”) with a financial institution to repurchase the Company’s common stock. The Company repurchased shares under the ASR Agreement as part of the share repurchase program described above. In 2023, the Company repurchased approximately 3.1 million shares delivered during March 2023 at a volume-weighted average price of $38.74 representing $120 million of the total anticipated repurchase. In April 2023, an additional 0.8 million shares were delivered upon the final settlement of the ASR Agreement resulting in a total of 3.9 million shares repurchased under the agreement.


(in millions, except per share amounts)			Initial Delivery					Final Settlement
Agreement Date	Amount Paid		Shares Received	Price per share		Value of Shares as a % of Contract Value		Settlement Date	Total Shares Received	Average Price per Share
March 3, 2023	$	150	3.1	$	38.74	80	%	April 28, 2023	3.9	$	38.55

The ASR Agreement was accounted for as an initial delivery of common shares in a treasury stock transaction on March 6, 2023 of $121 million and a forward contract indexed to the Company’s common stock for an amount of common shares that was determined on the final settlement date. The forward contract met all applicable criteria for equity classification and was not accounted for as a derivative instrument for the quarter ended March 31, 2023. Therefore, the value of the forward contract of $30 million was recorded in Capital in excess of par value at March 31, 2023. Upon final settlement in April 2023, this amount was subsequently recorded as Treasury Stock in the Consolidated Balance Sheets. The initial delivery and final settlement of common stock reduced the weighted average common shares outstanding for both basic and diluted earnings per share. The forward contract did not impact the weighted average common shares outstanding for diluted earnings per share.

For the years ended December 31, 2023, 2022 and 2021, the Company repurchased outstanding shares of common stock at a cost of $300 million, $150 million and $200 million, respectively. For the year ended December 31, 2023, the treasury stock transactions resulted in an excise tax accrual of $3 million for public company stock repurchases established by the Inflation Reduction Act of 2022.

For the year ended December 31, 2023, stock options exercised and the proceeds received at exercise were not significant. For the years ended December, 31, 2022 and 2021, the Company received proceeds of $6 million and $51 million, respectively, primarily as a result of stock options exercised in the amount of 0.1 million and 1.1 million in each of the years, respectively. It is the Company’s practice to issue shares from treasury stock when stock options are exercised and RSUs vest.

Total outstanding shares of common stock and treasury stock were as follows:


(in millions)	Shares of Common Stock	Shares of Treasury Stock	Outstanding Shares

Balance at December 31, 2020	264.5	(45.8)	218.7

Shares of treasury stock issued	—	2.2	2.2
Repurchase of common stock at an average cost of $57.47	—	(3.5)	(3.5)

Balance at December 31, 2021	264.5	(47.1)	217.4

Shares of treasury stock issued	—	0.9	0.9
Repurchase of common stock at an average cost of $48.22	—	(3.1)	(3.1)

Balance at December 31, 2022	264.5	(49.3)	215.2
Shares of treasury stock issued	—	0.8	0.8
Repurchase of common stock at an average cost of $34.20	—	(8.8)	(8.8)

Balance at December 31, 2023	264.5	(57.3)	207.2

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
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-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 235
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets were as follows:


	Year Ended December 31,
(in millions)	2023		2022

Prepaid expenses	$	113	$	104
Value-added tax receivable	61		53
Deposits	33		24
Other current assets	113		88
Prepaid expenses and other current assets	$	320	$	269

REVENUE - NET SALES DISAGGREGATED BY GEOGRAPHIC AREAS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 3,965	$ 3,922	$ 4,231
United States
Disaggregation of Revenue [Line Items]
Net sales	1,437	1,393	1,484
Geographical Basis, Destination of Shipments \| United States
Disaggregation of Revenue [Line Items]
Net sales	1,437	1,392	1,480
Geographical Basis, Destination of Shipments \| Europe
Disaggregation of Revenue [Line Items]
Net sales	1,550	1,559	1,675
Geographical Basis, Destination of Shipments \| Rest of World
Disaggregation of Revenue [Line Items]
Net sales	$ 978	$ 971	$ 1,076

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

INCOME TAXES - UNRECOGNIZED TAX BENEFITS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits at beginning of period	$ 49	$ 34	$ 27
Gross change for prior-period positions	1	12	6
Gross change for current year positions	95	4	2
Decrease due to settlements and payments	(9)	0	0
Decrease due to statute expirations	(4)	0	0
Decrease due to effect from foreign currency translation	0	(1)	(1)
Unrecognized tax benefits at end of period	$ 132	$ 49	$ 34

OTHER EXPENSE (INCOME), NET

12 Months Ended

Dec. 31, 2023

Other Income and Expenses [Abstract]

OTHER EXPENSE (INCOME), NET

Other expense (income), net, were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

Foreign exchange transaction (gain) loss	$	(3)	$	6	$	(12)
Other expense (income), net	12		47		14
Total other expense (income), net	$	9	$	53	$	2

The Company’s equity-method net losses were $4 million, $36 million, and $10 million for the years ended December 31, 2023, 2022, and 2021, respectively. Loss from equity method investments for the year ended December 31, 2022 includes $36 million recorded in Other expense (income), net in the Consolidated Statements of Operations for a write-off of the Company’s ownership position in a privately-held dental investment company following impairment of underlying investments held by the investment company and the Company’s determination that the remaining investment is not recoverable.

On February 1, 2021, the Company disposed of an investment casting business previously included as part of the former Consumables segment in exchange for a cash receipt of $19 million. The divestiture resulted in a pre-tax gain of $13 million recorded in Other expense (income), net in the Consolidated Statements of Operations for the year ended December 31, 2021.

SEGMENT AND GEOGRAPHIC INFORMATION - SEGMENT ADJUSTED OPERATING INCOME (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment adjusted operating income	$ (85)	$ (937)	$ 608
Goodwill and intangible asset impairments	307	1,287	0
Restructuring and other costs	67	14	17
Other expense (income), net	9	53	2
Amortization of intangible assets	211	209	222
(Loss) income before income taxes	(175)	(1,055)	545
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment adjusted operating income	822	894	1,082
Operating Segments \| Connected Technology Solutions
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment adjusted operating income	101	161	267
Operating Segments \| Essential Dental Solutions
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment adjusted operating income	478	467	511
Operating Segments \| Orthodontic and Implant Solutions
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment adjusted operating income	156	193	217
Operating Segments \| Wellspect Healthcare
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment adjusted operating income	87	73	87
All Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
All other	319	318	229
Segment Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Goodwill and intangible asset impairments	307	1,287	0
Restructuring and other costs	67	14	17
Interest expense, net	81	65	49
Other expense (income), net	9	53	14
Amortization of intangible assets	211	209	222
Depreciation resulting from the fair value step-up of property, plant, and equipment from business combinations	$ 3	$ 3	$ 6

SIGNIFICANT ACCOUNTING POLICIES - SCHEDULE OF INTANGIBLE ASSETS (Details) - Maximum	Dec. 31, 2023
Tradenames and trademarks
Finite-Lived Intangible Assets [Line Items]
Intangible asset, useful life (in years)	20 years
Licensing agreements
Finite-Lived Intangible Assets [Line Items]
Intangible asset, useful life (in years)	20 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible asset, useful life (in years)	15 years
Developed technology
Finite-Lived Intangible Assets [Line Items]
Intangible asset, useful life (in years)	15 years

EARNINGS PER COMMON SHARE - COMPUTATION OF BASIC AND DILUTED (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Basic Earnings (Loss) Per Common Share
Net (loss) income attributable to Dentsply Sirona	$ (132)	$ (950)	$ 411
Weighted average common shares outstanding (in shares)	212.0	215.5	218.4
Earnings (loss) per common share - basic (in dollars per share)	$ (0.62)	$ (4.41)	$ 1.88
Diluted Earnings (Loss) Per Common Share
Net (loss) income attributable to Dentsply Sirona	$ (132)	$ (950)	$ 411
Weighted average common shares outstanding (in shares)	212.0	215.5	218.4
Incremental weighted average shares from assumed exercise of dilutive options from stock-based compensation awards (in shares)	0.0	0.0	1.8
Total weighted average diluted shares outstanding (in shares)	212.0	215.5	220.2
Earnings (loss) per common share - diluted (in dollars per share)	$ (0.62)	$ (4.41)	$ 1.87
Weighted average shares excluded from diluted common shares outstanding due to reported net loss (in shares)	1.1	0.5	0.0
Weighted average shares excluded from diluted common shares outstanding due to antidilutive nature (in shares)	3.0	3.6	1.0

SEGMENT AND GEOGRAPHIC INFORMATION - CONCENTRATION RISK (Details) - Customer Concentration Risk	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Henry Schein, Inc. \| % of net sales
Concentration Risk [Line Items]
Concentration risk, percentage	14.00%	11.00%
Henry Schein, Inc. \| % of accounts receivable
Concentration Risk [Line Items]
Concentration risk, percentage	11.00%	15.00%
Patterson Companies, Inc. \| % of accounts receivable
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%	12.00%

REVENUE (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Net Sales Disaggregated by Product Category

Net sales disaggregated by product category were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

Equipment & Instruments	$	628	$	678	$	728
CAD/CAM	541		541		620
Connected Technology Solutions	$	1,169	$	1,219	$	1,348

Essential Dental Solutions	$	1,468	$	1,427	$	1,516

Orthodontics	$	339	$	297	$	273
Implants & Prosthetics	701		709		791
Orthodontic and Implant Solutions	$	1,040	$	1,006	$	1,064

Wellspect Healthcare	$	288	$	270	$	303

Total net sales	$	3,965	$	3,922	$	4,231

Schedule of Net Sales Disaggregated by Geographic Region

Net sales disaggregated by geographic region were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

United States	$	1,437	$	1,392	$	1,480
Europe	1,550		1,559		1,675
Rest of World	978		971		1,076

Total net sales	$	3,965	$	3,922	$	4,231

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Non-Cancelable Purchase Commitments

The Company has certain non-cancelable future commitments primarily related to long-term supply contracts for key components and raw materials. At December 31, 2023, non-cancelable purchase commitments are as follows:


(in millions)


2024	$	193
2025	77
2026	59
2027	6
2028	—
Thereafter	—
Total	$	335

FINANCING ARRANGEMENTS

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

FINANCING ARRANGEMENTS

Short-Term Debt

Short-term debt was as follows:


	Year Ended December 31,
	2023				2022
	Principal		Interest		Principal		Interest
(in millions except percentages)	Balance		Rate		Balance		Rate


Corporate commercial paper facility	$	225	5.8	%	$	95	5.1	%
Other short-term borrowings	20		4.9	%	22		4.6	%
Add: Current portion of long-term debt	77				1

Total short-term debt	$	322			$	118

Maximum month-end short-term debt outstanding during the year	$	399			$	395
Average amount of short-term debt outstanding during the year	284				289
Weighted-average interest rate on short-term debt at year-end			5.7	%			5.0	%

Short-Term Borrowings

On May 12, 2023, the Company entered into a five-year senior unsecured multi-currency revolving facility, for an aggregate principal amount of $700 million that expires on May 12, 2028. This new facility replaced the prior $700 million five-year senior unsecured multi-currency revolving facility that was scheduled to expire on July 26, 2024. The Company also has a $500 million commercial paper program. The $700 million multi-currency revolving credit facility serves as a back-up to the commercial paper facility, thus the total available credit under the commercial paper facility and the multi-currency revolving credit facility in the aggregate is $700 million. The Company had outstanding borrowings of $225 million and $95 million under the commercial paper facility at December 31, 2023 and December 31, 2022, respectively, and no outstanding borrowings under the multi-currency revolving credit facility. The Company also has access to $44 million in uncommitted short-term financing under lines of credit from various financial institutions, the availability of which is reduced by other short-term borrowings of $20 million.

At December 31, 2023, the Company had $499 million borrowings available under unused lines of credit, including lines available under its short-term arrangements and revolving credit agreement.

Long-Term Debt

Long-term debt was as follows:


	Year Ended December 31,
	2023				2022
	Principal		Interest		Principal		Interest
(in millions except percentages)	Balance		Rate		Balance		Rate


Private placement notes 70 million euros due October 2024	$	77	1.0	%	$	75	1.0	%
Private placement notes 25 million Swiss franc due December 2025	30		0.9	%	27		0.9	%
Private placement notes 97 million euros due December 2025	107		2.1	%	104		2.1	%
Private placement notes 26 million euros due February 2026	29		2.1	%	28		2.1	%
Private placement notes 58 million Swiss franc due August 2026	69		1.0	%	63		1.0	%
Private placement notes 106 million euros due August 2026	117		2.3	%	114		2.3	%
Private placement notes 70 million euros due October 2027	77		1.3	%	75		1.3	%
Private placement notes 8 million Swiss franc due December 2027	9		1.0	%	8		1.0	%
Private placement notes 15 million euros due December 2027	17		2.2	%	16		2.2	%
Private placement notes 140 million Swiss franc due August 2028	166		1.2	%	151		1.2	%
Private placement notes 70 million euros due October 2029	77		1.5	%	75		1.5	%
Fixed rate senior notes 750 million due June 2030	750		3.3	%	750		3.3	%
Private placement notes 70 million euros due October 2030	77		1.6	%	75		1.6	%
Private placement notes 45 million euros due February 2031	50		2.5	%	48		2.5	%
Private placement notes 65 million Swiss franc due August 2031	77		1.3	%	70		1.3	%
Private placement notes 12.6 billion Japanese yen due September 2031	89		1.0	%	96		1.0	%
Private placement notes 70 million euros due October 2031	77		1.7	%	75		1.7	%
Other borrowings, various currencies and rates	14				21
Hedge accounting fair value adjustment(a)	(28)				(35)
	$	1,881			$	1,836
Less: Current portion
(included in “Notes payable and current portion of long-term debt” in the Consolidated Balance Sheets)	77				1
Less: Long-term portion of deferred financing costs	8				9
Long-term portion	$	1,796			$	1,826

(a) Represents the fair value of interest rate swap agreements entered into on a portion of the outstanding senior notes.

The Company’s multi-currency revolving credit facility, term loans and senior notes contain certain affirmative and negative covenants relating to the Company’s operations and financial condition. At December 31, 2023, the Company was in compliance with all debt covenants.

The contractual maturity dates of the Company’s long-term borrowings as of December 31, 2023 were as follows:


(in millions)
2024	$	77
2025	148
2026	218
2027	103
2028	166
2029 and beyond	1,197
	$	1,909

Interest expense, net includes interest income of $16 million, $11 million and $3 million for the years ended December 31, 2023, 2022 and 2021, respectively, primarily relating to interest-bearing cash equivalents and customer financing for our direct-to-consumer aligner solutions.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

GOODWILL AND INTANGIBLE ASSETS - RECONCILIATION OF CHANGES IN GOODWILL (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended	12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Goodwill			$ 6,781	$ 2,729	$ 2,729	$ 6,768
Accumulated impairment losses			(4,080)	(291)	(291)	(4,080)
Balance, beginning of the year	$ 2,703	$ 2,701	2,688	2,703	2,688
Translation		2	13	26
Realignment of goodwill		0
Impairment				(291)	(291)	(1,187)	$ 0
Balance, end of the year		2,703	2,701	2,438	2,438	2,688
Technologies & Equipment
Goodwill [Roll Forward]
Goodwill			5,911	0	0	5,902
Accumulated impairment losses			(4,080)	0	0	(4,080)
Balance, beginning of the year	0	1,831	1,822	0	1,822
Translation		0	9	0
Realignment of goodwill		(1,831)
Impairment				0
Balance, end of the year		0	1,831	0	0	1,822
Consumables
Goodwill [Roll Forward]
Goodwill			870	0	0	866
Accumulated impairment losses			0	0	0	0
Balance, beginning of the year	0	870	866	0	866
Translation		0	4	0
Realignment of goodwill		(870)
Impairment				0
Balance, end of the year		0	870	0	0	866
Connected Technology Solutions
Goodwill [Roll Forward]
Goodwill			0	291	291	0
Accumulated impairment losses			0	(291)	(291)	0
Balance, beginning of the year	293	0	0	293	0
Translation		0	0	(2)
Realignment of goodwill		293
Impairment	(291)			(291)
Balance, end of the year		293	0	0	0	0
Essential Dental Solutions
Goodwill [Roll Forward]
Goodwill			0	840	840	0
Accumulated impairment losses			0	0	0	0
Balance, beginning of the year	836	0	0	836	0
Translation		1	0	4
Realignment of goodwill		835
Impairment				0
Balance, end of the year		836	0	840	840	0
Orthodontic and Implant Solutions
Goodwill [Roll Forward]
Goodwill			0	1,323	1,323	0
Accumulated impairment losses			0	0	0	0
Balance, beginning of the year	1,298	0	0	1,298	0
Translation		(5)	0	25
Realignment of goodwill		1,303
Impairment				0
Balance, end of the year		1,298	0	1,323	1,323	0
Wellspect Healthcare
Goodwill [Roll Forward]
Goodwill			0	275	275	0
Accumulated impairment losses			0	0	0	0
Balance, beginning of the year	$ 276	0	0	276	0
Translation		6	0	(1)
Realignment of goodwill		270
Impairment				0
Balance, end of the year		$ 276	$ 0	$ 275	$ 275	$ 0

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net sales	$ 3,965	$ 3,922	$ 4,231
Cost of products sold	1,879	1,795	1,884
Gross profit	2,086	2,127	2,347
Selling, general, and administrative expenses	1,613	1,589	1,551
Research and development expenses	184	174	171
Goodwill and intangible asset impairments	307	1,287	0
Restructuring and other costs	67	14	17
Operating (loss) income	(85)	(937)	608
Other income and expenses:
Interest expense, net	81	65	61
Other expense (income), net	9	53	2
(Loss) income before income taxes	(175)	(1,055)	545
(Benefit) provision for income taxes	(43)	(105)	134
Net (loss) income	(132)	(950)	411
Less: Net income (loss) attributable to noncontrolling interests	0	0	0
Net (loss) income attributable to Dentsply Sirona	$ (132)	$ (950)	$ 411
Net (loss) income per common share attributable to Dentsply Sirona:
Basic (in dollars per share)	$ (0.62)	$ (4.41)	$ 1.88
Diluted (in dollars per share)	$ (0.62)	$ (4.41)	$ 1.87
Weighted average common shares outstanding:
Basic (in shares)	212.0	215.5	218.4
Diluted (in shares)	212.0	215.5	220.2

FINANCIAL INSTRUMENTS AND DERIVATIVES - CONSOLIDATED BALANCE SHEETS LOCATION OF DERIVATIVE FAIR VALUES (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	$ 16	$ 64
Gross liability amount recognized for derivative instruments designated as hedges	$ 84	46
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other noncurrent assets, Prepaid expenses and other current assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current, Other Liabilities, Noncurrent
Interest rate swaps
Derivative [Line Items]
Gross liability amount recognized for derivative instruments designated as hedges	$ 28	34
Cross currency basis swaps
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	8	26
Prepaid Expenses and Other Current Assets
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	7	36
Gross asset amount recognized for derivative instruments not designated as hedges	5	3
Prepaid Expenses and Other Current Assets \| Foreign exchange forward contracts
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	3	32
Gross asset amount recognized for derivative instruments not designated as hedges	5	3
Prepaid Expenses and Other Current Assets \| Interest rate swaps
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	0	0
Prepaid Expenses and Other Current Assets \| Cross currency basis swaps
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	4	4
Other Noncurrent Assets
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	4	25
Gross asset amount recognized for derivative instruments not designated as hedges	0	0
Other Noncurrent Assets \| Foreign exchange forward contracts
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	0	3
Gross asset amount recognized for derivative instruments not designated as hedges	0	0
Other Noncurrent Assets \| Interest rate swaps
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	0	0
Other Noncurrent Assets \| Cross currency basis swaps
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	4	22
Accrued Liabilities
Derivative [Line Items]
Gross liability amount recognized for derivative instruments designated as hedges	13	14
Gross liability amount recognized for derivative instruments not designated as hedges	5	5
Accrued Liabilities \| Foreign exchange forward contracts
Derivative [Line Items]
Gross liability amount recognized for derivative instruments designated as hedges	4	5
Gross liability amount recognized for derivative instruments not designated as hedges	5	5
Accrued Liabilities \| Interest rate swaps
Derivative [Line Items]
Gross liability amount recognized for derivative instruments designated as hedges	9	9
Accrued Liabilities \| Cross currency basis swaps
Derivative [Line Items]
Gross liability amount recognized for derivative instruments designated as hedges	0	0
Other Noncurrent Liabilities
Derivative [Line Items]
Gross liability amount recognized for derivative instruments designated as hedges	66	27
Gross liability amount recognized for derivative instruments not designated as hedges	0	0
Other Noncurrent Liabilities \| Foreign exchange forward contracts
Derivative [Line Items]
Gross liability amount recognized for derivative instruments designated as hedges	47	2
Gross liability amount recognized for derivative instruments not designated as hedges	0	0
Other Noncurrent Liabilities \| Interest rate swaps
Derivative [Line Items]
Gross liability amount recognized for derivative instruments designated as hedges	19	25
Other Noncurrent Liabilities \| Cross currency basis swaps
Derivative [Line Items]
Gross liability amount recognized for derivative instruments designated as hedges	$ 0	$ 0

COVER PAGE - USD ($)	12 Months Ended
COVER PAGE - USD ($)	Dec. 31, 2023	Feb. 16, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	0-16211
Entity Registrant Name	DENTSPLY SIRONA Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	39-1434669
Entity Address, Address Line One	13320 Ballantyne Corporate Place
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28277-3607
City Area Code	844
Local Phone Number	848-0137
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	XRAY
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 8,462,931,711
Entity Common Stock, Shares Outstanding		207,363,276
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Certain portions of the definitive Proxy Statement of DENTSPLY SIRONA Inc. (the “Proxy Statement”) to be used in connection with the 2024 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K to the extent provided herein. Except as specifically incorporated by reference herein the Proxy Statement is not deemed to be filed as part of this Form 10-K.
Entity Central Index Key	0000818479
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

EARNINGS PER COMMON SHARE (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings Per Common Share

The computation of basic and diluted earnings (loss) per common share for the years ended December 31 were as follows:


Basic Earnings (Loss) Per Common Share
(in millions, except per share amounts)	2023		2022		2021

Net (loss) income attributable to Dentsply Sirona	$	(132)	$	(950)	$	411

Weighted average common shares outstanding	212.0		215.5		218.4

Earnings (loss) per common share - basic	$	(0.62)	$	(4.41)	$	1.88

Diluted Earnings (Loss) Per Common Share
(in millions, except per share amounts)	2023		2022		2021

Net (loss) income attributable to Dentsply Sirona	$	(132)	$	(950)	$	411

Weighted average common shares outstanding	212.0		215.5		218.4
Incremental weighted average shares from assumed exercise of dilutive options from stock-based compensation awards	—		—		1.8
Total weighted average diluted shares outstanding	212.0		215.5		220.2

Earnings (loss) per common share - diluted	$	(0.62)	$	(4.41)	$	1.87

Weighted average shares excluded from diluted common shares outstanding due to reported net loss	1.1		0.5		—

Weighted average shares excluded from diluted common shares outstanding due to antidilutive nature	3.0		3.6		1.0

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,165	$ 2,073
Less: Accumulated depreciation and amortization	1,365	1,312
Property, plant and equipment, net	800	761	$ 773
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	49	48
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	568	546
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	964	963
Capitalized software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	446	400
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 138	$ 116

INCOME TAXES - THE DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Schedule Of Deferred Income Tax Assets (Liabilities) [Line Items]
Deferred income tax liabilities	$ 228	$ 287
Other noncurrent assets
Schedule Of Deferred Income Tax Assets (Liabilities) [Line Items]
Deferred income tax assets	213	101
Deferred income taxes
Schedule Of Deferred Income Tax Assets (Liabilities) [Line Items]
Deferred income tax liabilities	$ 228	$ 287

EARNINGS PER COMMON SHARE

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

EARNINGS PER COMMON SHARE

The computation of basic and diluted earnings (loss) per common share for the years ended December 31 were as follows:


Basic Earnings (Loss) Per Common Share
(in millions, except per share amounts)	2023		2022		2021

Net (loss) income attributable to Dentsply Sirona	$	(132)	$	(950)	$	411

Weighted average common shares outstanding	212.0		215.5		218.4

Earnings (loss) per common share - basic	$	(0.62)	$	(4.41)	$	1.88

Diluted Earnings (Loss) Per Common Share
(in millions, except per share amounts)	2023		2022		2021

Net (loss) income attributable to Dentsply Sirona	$	(132)	$	(950)	$	411

Weighted average common shares outstanding	212.0		215.5		218.4
Incremental weighted average shares from assumed exercise of dilutive options from stock-based compensation awards	—		—		1.8
Total weighted average diluted shares outstanding	212.0		215.5		220.2

Earnings (loss) per common share - diluted	$	(0.62)	$	(4.41)	$	1.87

Weighted average shares excluded from diluted common shares outstanding due to reported net loss	1.1		0.5		—

Weighted average shares excluded from diluted common shares outstanding due to antidilutive nature	3.0		3.6		1.0

FINANCIAL INSTRUMENTS AND DERIVATIVES (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The following summarizes the notional amounts of cash flow hedges, hedges of net investments, fair value hedges, and derivative instruments not designated as hedges for accounting purposes, by derivative instrument type at December 31, 2023 and the notional amounts expected to mature during the next 12 months:


	Aggregate Notional Amount		Aggregate Notional Amount Maturing within 12 Months

(in millions)

Cash Flow Hedges
Foreign exchange forward contracts	$	23	$	23


Total derivative instruments designated as cash flow hedges	$	23	$	23

Hedges of Net Investments
Foreign exchange forward contracts	$	890	$	88
Cross currency basis swaps	295		—
Total derivative instruments designated as hedges of net investments	$	1,185	$	88

Fair Value Hedges
Foreign exchange forward contracts	$	24	$	24
Interest rate swaps	250		—
Total derivative instruments designated as fair value hedges	$	274	$	24

Derivative Instruments not Designated as Hedges
Foreign exchange forward contracts	$	658	$	658

Total derivative instruments not designated as hedges	$	658	$	658

Schedule of Derivative Instruments

The effect of derivative hedging instruments on the Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income:


	Year Ended December 31, 2023						Year Ended December 31, 2022						Year Ended December 31, 2021
(in millions)	Cost of products sold		Interest expense, net		Other (income) expense, net		Cost of products sold		Interest expense, net		Other (income) expense, net		Cost of products sold		Interest expense, net		Other (income) expense, net

Total amounts of line items presented in the Consolidated Statements of Operations in which the effects of cash flow, net investment or fair value hedges are recorded	$	1,879	$	81	$	9	$	1,795	$	65	$	53	$	1,884	$	61	$	2

(Gain) loss on Cash Flow Hedges
Foreign exchange forward contracts	$	1	$	—	$	—	$	(3)	$	—	$	—	$	1	$	—	$	—
Interest rate swaps	—		3		—		—		3		—		—		4		—

(Gain) loss on Hedges of Net Investment
Cross currency basis swaps	$	—	$	—	$	(5)	$	—	$	—	$	(5)	$	—	$	—	$	(6)
Foreign exchange forward contracts	—		—		(12)		—		—		(2)		—		—		(1)

(Gain) loss on Fair Value Hedges:
Interest rate swaps	$	—	$	11	$	—	$	—	$	1	$	—	$	—	$	(1)	$	—
Foreign exchange forward contracts	—		—		—		—		—		(27)		—		—		(24)

(Gain) loss on Derivative Instruments not Designated as Hedges
Foreign exchange forward contracts	$	—	$	—	$	8	$	—	$	—	$	(4)	$	—	$	—	$	9


	Amount of Gain or (Loss) Recognized in AOCI							Amount of Gain or (Loss) Reclassified from AOCI into Income
	Year Ended December 31,						Consolidated Statements of Operations Location	Year Ended December 31,
(in millions)	2023		2022		2021			2023		2022		2021

Cash Flow Hedges
Foreign exchange forward contracts	$	—	$	(1)	$	3	Cost of products sold	$	(1)	$	3	$	(3)
Interest rate swaps	—		—		—		Interest expense, net	(3)		(3)		(4)



Hedges of Net Investments
Cross currency basis swaps	$	(18)	$	30	$	13	Other expense (income), net	$	—	$	—	$	—
Foreign exchange forward contracts	(29)		11		10		Other expense (income), net	—		—		—


Fair Value Hedges
Interest rate swaps	$	—	$	—	$	—	Other expense (income), net	$	—	$	—	$	—
Foreign exchange forward contracts	2		(2)		(1)		Interest expense, net	—		—		—

Schedule of Consolidated Balance Sheets Location of Derivative Fair Values

The fair value and the location of the Company’s derivatives in the Consolidated Balance Sheets were as follows:


	Year Ended December 31, 2023
(in millions)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Accrued Liabilities		Other Noncurrent Liabilities

Designated as Hedges:
Foreign exchange forward contracts	$	3	$	—	$	4	$	47

Interest rate swaps	—		—		9		19
Cross currency basis swaps	4		4		—		—
Total	$	7	$	4	$	13	$	66

Not Designated as Hedges:
Foreign exchange forward contracts	$	5	$	—	$	5	$	—



Total	$	5	$	—	$	5	$	—


	Year Ended December 31, 2022
(in millions)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Accrued Liabilities		Other Noncurrent Liabilities

Designated as Hedges:
Foreign exchange forward contracts	$	32	$	3	$	5	$	2

Interest rate swaps	—		—		9		25
Cross currency basis swaps	4		22		—		—
Total	$	36	$	25	$	14	$	27

Not Designated as Hedges:
Foreign exchange forward contracts	$	3	$	—	$	5	$	—



Total	$	3	$	—	$	5	$	—

Schedule of Balance Sheet Offsetting

Offsetting of financial assets and liabilities under netting arrangements at December 31, 2023 were as follows:


							Gross Amounts Not Offset in the Consolidated Balance Sheets
(in millions)	Gross Amounts Recognized		Gross Amounts Offset in the Consolidated Balance Sheets		Net Amounts Presented in the Consolidated Balance Sheets		Financial Instruments		Cash Collateral Received/Pledged		Net Amount

Assets
Foreign exchange forward contracts	$	8	$	—	$	8	$	(5)	$	—	$	3


Cross currency basis swaps	8		—		8		(4)		—		4

Total assets	$	16	$	—	$	16	$	(9)	$	—	$	7

Liabilities
Foreign exchange forward contracts	$	56	$	—	$	56	$	(7)	$	—	$	49


Interest rate swaps	28		—		28		(2)		—		26

Total liabilities	$	84	$	—	$	84	$	(9)	$	—	$	75

Offsetting of financial assets and liabilities under netting arrangements at December 31, 2022 were as follows:


							Gross Amounts Not Offset in the Consolidated Balance Sheets
(in millions)	Gross Amounts Recognized		Gross Amounts Offset in the Consolidated Balance Sheets		Net Amounts Presented in the Consolidated Balance Sheets		Financial Instruments		Cash Collateral Received/Pledged		Net Amount

Assets
Foreign exchange forward contracts	$	38	$	—	$	38	$	(7)	$	—	$	31


Cross currency basis swaps	26		—		26		(12)		—		14
Total assets	$	64	$	—	$	64	$	(19)	$	—	$	45

Liabilities
Foreign exchange forward contracts	$	12	$	—	$	12	$	(10)	$	—	$	2
Interest rate swaps	34		—		34		(9)		—		25



Total liabilities	$	46	$	—	$	46	$	(19)	$	—	$	27

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details

FINANCIAL INSTRUMENTS AND DERIVATIVES

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

FINANCIAL INSTRUMENTS AND DERIVATIVES

Derivative Instruments and Hedging Activities

The Company’s operations expose it to a variety of market risks, which primarily include the risks related to the effects of changes in foreign currency exchange rates and interest rates. These financial exposures are monitored and managed by the Company as part of its overall risk management program. The objective of this risk management program is to reduce the volatility that these market risks may have on the Company’s operating results and cash flows. The Company employs derivative financial instruments to hedge certain anticipated transactions, firm commitments, or assets and liabilities denominated in foreign currencies. Additionally, the Company utilizes interest rate swaps to convert fixed rate debt into variable rate debt or vice versa. The Company does not hold derivative instruments for trading or speculative purposes.


	Aggregate Notional Amount		Aggregate Notional Amount Maturing within 12 Months

(in millions)

Cash Flow Hedges
Foreign exchange forward contracts	$	23	$	23


Total derivative instruments designated as cash flow hedges	$	23	$	23

Hedges of Net Investments
Foreign exchange forward contracts	$	890	$	88
Cross currency basis swaps	295		—
Total derivative instruments designated as hedges of net investments	$	1,185	$	88

Fair Value Hedges
Foreign exchange forward contracts	$	24	$	24
Interest rate swaps	250		—
Total derivative instruments designated as fair value hedges	$	274	$	24

Derivative Instruments not Designated as Hedges
Foreign exchange forward contracts	$	658	$	658

Total derivative instruments not designated as hedges	$	658	$	658

Cash Flow Hedges

Foreign Exchange Risk Management

The Company hedges select anticipated foreign currency cash flows to reduce volatility in both cash flows and reported earnings. The Company designates certain foreign exchange forward contracts as cash flow hedges. As a result, the Company records the fair value of the contracts through AOCI based on the assessed effectiveness of the foreign exchange forward contracts. The Company measures the effectiveness of cash flow hedges of anticipated transactions on a spot-to-spot basis rather than on a forward-to-forward basis. Accordingly, the spot-to-spot change in the derivative fair value will be deferred in AOCI and released and recorded in the Consolidated Statements of Operations in the same period that the hedged transaction is recorded. The time-value component of the fair value of the derivative is reported on a straight-line basis in Cost of products sold in the Consolidated Statements of Operations in the period which it is applicable. Any cash flows associated with these instruments are included in operating activities in the Consolidated Statements of Cash Flows.

These foreign exchange forward contracts generally have maturities up to 18 months, which is the period over which the Company is hedging exposures to variability of cash flows and the counterparties to the transactions are typically large international financial institutions.

Interest Rate Risk Management

The Company enters into interest rate swap contracts to manage interest rate risk on long-term debt instruments and not for speculative purposes. Any cash flows associated with these instruments are included in operating activities in the Consolidated Statements of Cash Flows.

On May 26, 2020, the Company paid $31 million to settle the $150 million notional Treasury rate lock contract, which partially hedged the interest rate risk of the $750 million senior unsecured notes. This loss is amortized over the ten-year life of the notes. As of December 31, 2023 and December 31, 2022, $19 million and $23 million, respectively, of this loss is remaining to be amortized from AOCI in future periods.

AOCI Release

Overall, the derivatives designated as cash flow hedges are highly effective for accounting purposes. At December 31, 2023, the Company expects to reclassify $3 million of deferred net losses on cash flow hedges recorded in AOCI in the Consolidated Statements of Operations during the next 12 months. For the rollforward of derivative instruments designated as cash flow hedges in AOCI see Note 5, Comprehensive (Loss) Income.

Hedges of Net Investments in Foreign Operations

The Company has significant investments in foreign subsidiaries. The net assets of these subsidiaries are exposed to volatility in currency exchange rates. The Company employs both derivative and non-derivative financial instruments to hedge a portion of this exposure. The derivative instruments consist of foreign exchange forward contracts and cross-currency basis swaps. The non-derivative instruments consist of foreign currency denominated debt held at the parent company level. Translation gains and losses related to the net assets of the foreign subsidiaries are offset by gains and losses in the aforementioned instruments, which are designated as hedges of net investments and the intrinsic value changes in these instruments are recorded on AOCI, net of tax effects. The time-value component of the fair value of the derivative instruments is reported on a straight-line basis in Other expense (income), net in the Consolidated Statements of Operations in the applicable period. Any cash flows associated with these instruments are included in investing activities in the Consolidated Statements of Cash Flows except for derivative instruments that include an other-than-insignificant financing element, for which all cash flows are classified as financing activities in the Consolidated Statements of Cash Flows.

The fair value of the foreign exchange forward contracts and cross-currency basis swaps is the estimated amount the Company would receive or pay at the reporting date, considering the effective interest rates, and foreign exchange rates. The effective portion of the change in the value of these derivatives is recorded in AOCI, net of tax effects.

On July 2, 2021, the Company entered into a cross-currency basis swap of a notional amount of $300 million, which matures on June 3, 2030. The cross-currency basis swap is designated as a hedge of net investments. This contract effectively converts a portion of the $750 million bond coupon from 3.3% to 1.7%, which will result in a net reduction of Other expense (income), net.

On May 25, 2021, the Company re-established its euro net investment hedge portfolio by entering into eight foreign exchange forward contracts, each with a notional amount of 10 million euro. The original contracts have quarterly maturity dates through March 2023 and the Company entered into additional foreign exchange contracts as individual contracts within the portfolio matured. As of December 31, 2023, the euro net investment hedge portfolio has an aggregate notional value of 160 million euro with maturity dates through December 2025.

On July 20, 2023, the Company entered into a Swiss franc foreign exchange forward contract designated as a net investment hedge. The foreign exchange forward contract had a notional amount of 600 million Swiss francs. This net investment hedge was settled in September 2023 which resulted in cash receipts totaling $32 million. The Company subsequently entered into Swiss franc foreign exchange contracts designated as a net investment hedge with a total notional amount of 600 million Swiss francs. This portfolio of contracts has semi-annual maturity dates through July 2028.

Fair Value Hedges

Foreign Exchange Risk Management

The Company has intercompany loans denominated in Swedish kronor that are exposed to volatility in currency exchange rates. The Company employs derivative financial instruments to hedge these exposures. The Company accounts for these designated foreign exchange forward contracts as fair value hedges. The Company measures the effectiveness of fair value hedges of anticipated transactions on a spot-to-spot basis rather than on a forward-to-forward basis. Accordingly, the spot-to-spot change in the derivative fair value will be recorded in Other expense (income), net in the Consolidated Statements of Operations. The time-value component of the fair value of the derivative is reported on a straight-line basis in Other expense (income), net in the Consolidated Statements of Operations in the applicable period. Any cash flows associated with these instruments are included in operating activities in the Consolidated Statements of Cash Flows.

Interest Rate Risk Management

On July 1, 2021, the Company entered into variable interest rate swaps with a notional amount of $250 million, which effectively converted a portion of the underlying fixed rate of 3.3% on the $750 million Senior Notes due June 2030 to a variable interest rate. Of the $250 million notional amount, $100 million has a term of five-years maturing on June 1, 2026 and $150 million has a term of nine years maturing on March 1, 2030.

On February 13, 2024, the Company paid $9 million to settle the variable interest rate swap with a notional amount of $100 million which was originally set to mature on June 1, 2026. This closure of the interest rate swap will result in a loss of $8 million being amortized over the remaining life of the Senior Notes due June 2030.

Derivative Instruments Not Designated as Hedges

The Company enters into derivative instruments with the intent to partially mitigate the foreign exchange revaluation risk associated with recorded assets and liabilities that are denominated in a non-functional currency. The Company primarily uses foreign exchange forward contracts to hedge these risks. The gains and losses on these derivative transactions offset the gains and losses generated by the revaluation of the underlying non-functional currency balances and are recorded in Other expense (income), net in the Consolidated Statements of Operations. Any cash flows associated with these instruments are included in operating activities in the Consolidated Statements of Cash Flows.

Derivative Instrument Activity

The effect of derivative hedging instruments on the Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income:


	Year Ended December 31, 2023						Year Ended December 31, 2022						Year Ended December 31, 2021
(in millions)	Cost of products sold		Interest expense, net		Other (income) expense, net		Cost of products sold		Interest expense, net		Other (income) expense, net		Cost of products sold		Interest expense, net		Other (income) expense, net

Total amounts of line items presented in the Consolidated Statements of Operations in which the effects of cash flow, net investment or fair value hedges are recorded	$	1,879	$	81	$	9	$	1,795	$	65	$	53	$	1,884	$	61	$	2

(Gain) loss on Cash Flow Hedges
Foreign exchange forward contracts	$	1	$	—	$	—	$	(3)	$	—	$	—	$	1	$	—	$	—
Interest rate swaps	—		3		—		—		3		—		—		4		—

(Gain) loss on Hedges of Net Investment
Cross currency basis swaps	$	—	$	—	$	(5)	$	—	$	—	$	(5)	$	—	$	—	$	(6)
Foreign exchange forward contracts	—		—		(12)		—		—		(2)		—		—		(1)

(Gain) loss on Fair Value Hedges:
Interest rate swaps	$	—	$	11	$	—	$	—	$	1	$	—	$	—	$	(1)	$	—
Foreign exchange forward contracts	—		—		—		—		—		(27)		—		—		(24)

(Gain) loss on Derivative Instruments not Designated as Hedges
Foreign exchange forward contracts	$	—	$	—	$	8	$	—	$	—	$	(4)	$	—	$	—	$	9


	Amount of Gain or (Loss) Recognized in AOCI							Amount of Gain or (Loss) Reclassified from AOCI into Income
	Year Ended December 31,						Consolidated Statements of Operations Location	Year Ended December 31,
(in millions)	2023		2022		2021			2023		2022		2021

Cash Flow Hedges
Foreign exchange forward contracts	$	—	$	(1)	$	3	Cost of products sold	$	(1)	$	3	$	(3)
Interest rate swaps	—		—		—		Interest expense, net	(3)		(3)		(4)



Hedges of Net Investments
Cross currency basis swaps	$	(18)	$	30	$	13	Other expense (income), net	$	—	$	—	$	—
Foreign exchange forward contracts	(29)		11		10		Other expense (income), net	—		—		—


Fair Value Hedges
Interest rate swaps	$	—	$	—	$	—	Other expense (income), net	$	—	$	—	$	—
Foreign exchange forward contracts	2		(2)		(1)		Interest expense, net	—		—		—

Consolidated Balance Sheets Location of Derivative Fair Values

The fair value and the location of the Company’s derivatives in the Consolidated Balance Sheets were as follows:


	Year Ended December 31, 2023
(in millions)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Accrued Liabilities		Other Noncurrent Liabilities

Designated as Hedges:
Foreign exchange forward contracts	$	3	$	—	$	4	$	47

Interest rate swaps	—		—		9		19
Cross currency basis swaps	4		4		—		—
Total	$	7	$	4	$	13	$	66

Not Designated as Hedges:
Foreign exchange forward contracts	$	5	$	—	$	5	$	—



Total	$	5	$	—	$	5	$	—


	Year Ended December 31, 2022
(in millions)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Accrued Liabilities		Other Noncurrent Liabilities

Designated as Hedges:
Foreign exchange forward contracts	$	32	$	3	$	5	$	2

Interest rate swaps	—		—		9		25
Cross currency basis swaps	4		22		—		—
Total	$	36	$	25	$	14	$	27

Not Designated as Hedges:
Foreign exchange forward contracts	$	3	$	—	$	5	$	—



Total	$	3	$	—	$	5	$	—

Balance Sheet Offsetting

Substantially all the Company’s derivative contracts are subject to netting arrangements; whereby the right to offset occurs in the event of default or termination in accordance with the terms of the arrangements with the counterparty. While these contracts contain the enforceable right to offset through netting arrangements with the same counterparty, the Company elects to present them on a gross basis in the Consolidated Balance Sheets.

Offsetting of financial assets and liabilities under netting arrangements at December 31, 2023 were as follows:


							Gross Amounts Not Offset in the Consolidated Balance Sheets
(in millions)	Gross Amounts Recognized		Gross Amounts Offset in the Consolidated Balance Sheets		Net Amounts Presented in the Consolidated Balance Sheets		Financial Instruments		Cash Collateral Received/Pledged		Net Amount

Assets
Foreign exchange forward contracts	$	8	$	—	$	8	$	(5)	$	—	$	3


Cross currency basis swaps	8		—		8		(4)		—		4

Total assets	$	16	$	—	$	16	$	(9)	$	—	$	7

Liabilities
Foreign exchange forward contracts	$	56	$	—	$	56	$	(7)	$	—	$	49


Interest rate swaps	28		—		28		(2)		—		26

Total liabilities	$	84	$	—	$	84	$	(9)	$	—	$	75

Offsetting of financial assets and liabilities under netting arrangements at December 31, 2022 were as follows:


							Gross Amounts Not Offset in the Consolidated Balance Sheets
(in millions)	Gross Amounts Recognized		Gross Amounts Offset in the Consolidated Balance Sheets		Net Amounts Presented in the Consolidated Balance Sheets		Financial Instruments		Cash Collateral Received/Pledged		Net Amount

Assets
Foreign exchange forward contracts	$	38	$	—	$	38	$	(7)	$	—	$	31


Cross currency basis swaps	26		—		26		(12)		—		14
Total assets	$	64	$	—	$	64	$	(19)	$	—	$	45

Liabilities
Foreign exchange forward contracts	$	12	$	—	$	12	$	(10)	$	—	$	2
Interest rate swaps	34		—		34		(9)		—		25



Total liabilities	$	46	$	—	$	46	$	(19)	$	—	$	27

INVENTORIES, NET (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 185	$ 169
Work-in-process	77	77
Finished goods	362	381
Inventories, net	$ 624	$ 627

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Total Dentsply Sirona Equity	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Noncontrolling Interests
Beginning Balance at Dec. 31, 2020	$ 4,935	$ 4,932	$ 3	$ 6,604	$ 1,198	$ (464)	$ (2,409)	$ 3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	411	411			411
Other comprehensive loss	(130)	(128)				(128)		(2)
Exercise of stock options	52	52		15			37
Stock based compensation expense	49	49		49
Funding of employee stock purchase plan	5	5		2			3
Treasury shares purchased	(200)	(200)					(200)
Restricted stock unit distributions	(31)	(31)		(65)			34
Restricted stock unit dividends	0	0		1	(1)
Cash dividends declared	(94)	(94)			(94)
Ending Balance at Dec. 31, 2021	4,997	4,996	3	6,606	1,514	(592)	(2,535)	1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(950)	(950)			(950)
Other comprehensive loss	(36)	(36)				(36)
Exercise of stock options	7	7		1			6
Stock based compensation expense	59	59		59
Funding of employee stock purchase plan	6	6		1			5
Treasury shares purchased	(150)	(150)					(150)
Restricted stock unit distributions	(13)	(13)		(38)			25
Cash dividends declared	(108)	(108)			(108)
Ending Balance at Dec. 31, 2022	3,812	3,811	3	6,629	456	(628)	(2,649)	1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(132)	(132)			(132)
Other comprehensive loss	(8)	(8)				(8)
Exercise of stock options	0	0		(1)			1
Stock based compensation expense	46	46		46
Funding of employee stock purchase plan	6	6					6
Treasury shares purchased	(303)	(303)					(303)
Restricted stock unit distributions	(9)	(9)		(32)			23
Restricted stock unit dividends	0	0		1	(1)
Cash dividends declared	(118)	(118)			(118)
Ending Balance at Dec. 31, 2023	$ 3,294	$ 3,293	$ 3	$ 6,643	$ 205	$ (636)	$ (2,922)	$ 1

STOCK COMPENSATION

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

STOCK COMPENSATION

The Company maintains the 2016 Omnibus Incentive Plan (the “Plan”) under which it may grant non-qualified stock options (“NQSOs”), incentive stock options, restricted stock, RSUs and stock appreciation rights, collectively referred to as “Awards.” Awards are granted at exercise prices that are equal to the closing stock price on the date of grant. The Company authorized grants under the Plan of 25 million shares of common stock, plus any unexercised portion of canceled or terminated stock options granted under the legacy DENTSPLY International Inc. 2010 and 2002 Equity Incentive Plans, as amended, and under the legacy Sirona Dental Systems, Inc. 2015 and 2006 Equity Incentive Plans, as amended. Each restricted stock and RSU issued is counted as a reduction of 3.09 shares of common stock available to be issued under the Plan. No key employee may be granted awards in excess of 1 million shares of common stock in any calendar year. The number of shares available for grant under the 2016 Plan at December 31, 2023 is 12 million.

The amounts of stock compensation expense recorded in the Company’s Consolidated Statements of Operations for the years ended December 31, 2023, 2022 and 2021 were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

Cost of products sold	$	4	$	3	$	3
Selling, general, and administrative expense	36		53		44
Research and development expense	4		3		2
Restructuring and other costs	2		—		—
Total stock based compensation expense	$	46	$	59	$	49

Related deferred income tax benefit	$	8	$	7	$	6


	Year Ended December 31,
	2023			2022			2021

Weighted average fair value per share	$	12.64		$	14.06		$	15.90
Expected dividend yield	1.45		%	1.09		%	0.68		%
Risk-free interest rate	4.27		%	2.23		%	0.79		%
Expected volatility	35.8		%	32.7		%	31.5		%
Expected life (years)	4.76			5.20			5.08

The total intrinsic value of options exercised for the year ended December 31, 2023 was insignificant. The total intrinsic value of options exercised for the years ended December 31, 2022 and 2021 was $1 million and $16 million, respectively.

The NQSO transactions for the year ended December 31, 2023 were as follows:


	Outstanding					Exercisable					Expected to Vest
(in millions, except per share amounts)	Shares	Weighted Average Exercise Price		Aggregate Intrinsic Value		Shares	Weighted Average Exercise Price		Aggregate Intrinsic Value		Shares	Weighted Average Exercise Price		Aggregate Intrinsic Value

December 31, 2022	3.0	$	51.64	$	—	1.9	$	52.43	$	—	1.1	$	50.21	$	—
Granted	0.7	38.67

Exercised	—	39.77
Cancelled	(0.7)	51.08
Forfeited	(0.4)	52.10
December 31, 2023	2.6	$	48.11	$	1	1.6	$	52.55	$	—	1.0	$	41.41	$	1

There were 1 million NQSOs unvested at December 31, 2023. The remaining unamortized compensation cost related to NQSOs is $9 million, which will be expensed over the weighted average remaining vesting period of the options, which is 2.0 years.

The weighted average remaining contractual term of all outstanding options, exercisable options and options expected to vest are 5.7 years, 3.6 years and 8.8 years, respectively.

Information about NQSOs outstanding for the year ended December 31, 2023 were as follows:


			Outstanding				Exercisable
			Number Outstanding at December 31, 2023	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Number Exercisable at December 31, 2023	Weighted Average Exercise Price
Range of Exercise Prices
(in millions, except per share amounts and life)




30.01	-	40.00	0.8	9.1	$	37.13	—	$	30.97
40.01	-	50.00	0.6	3.7	47.32		0.6	47.50
50.01	-	60.00	0.9	4.7	55.29		0.7	55.44
60.01	-	70.00	0.3	2.5	62.33		0.3	62.29
			2.6				1.6

The unvested RSU transactions for the year ended December 31, 2023 were as follows:


	Unvested Restricted Stock Units
	Shares	Weighted Average Grant Date Fair Value

(in millions, except per share amounts)

Unvested at December 31, 2022	4.4	$	45.63
Granted	1.7	40.91

Vested	(0.8)	40.04
Forfeited	(1.7)	49.19
Unvested at December 31, 2023	3.6	$	42.95

The weighted average grant date fair value of RSUs granted for the years ended December 31, 2022 and 2021 were $39.73 and $63.61, respectively. The unamortized compensation cost related to RSUs is $57 million, which will be expensed over the remaining weighted average restricted period of the RSUs, which is 1.9 years.

The total fair value of shares vested for the years ended December 31, 2023, 2022 and 2021 was $42 million, $49 million and $76 million, respectively.

RESTRUCTURING AND OTHER COSTS

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

RESTRUCTURING AND OTHER COSTS

Restructuring and other costs for the years ended December 31, 2023, 2022 and 2021 were as follows:


Affected Line Item in the Consolidated Statements of Operations	Year Ended December 31,
(in millions)	2023		2022		2021

Cost of products sold	$	4	$	—	$	(3)
Selling, general, and administrative expenses	3		—		6
Restructuring and other costs	67		14		17

Total Restructuring and other costs	$	74	$	14	$	20

Restructuring and other costs of $67 million recorded in the year ended December 31, 2023 consisted primarily of employee severance benefits and other restructuring costs related to the plan approved by the Board of Directors of the Company on February 14, 2023. This plan seeks to restructure the Company’s business to improve operational performance and drive shareholder value creation through a new operating model with four operating segments, optimization of central functions and overall management infrastructure, and other efforts aimed at cost savings. The restructuring plan anticipates a reduction in the Company’s global workforce of approximately 8% to 10%, subject to co-determination processes with employee representative groups in countries where required which are now substantially complete. The Company expects to incur between $115 and $135 million in non-recurring charges, comprising $80 to $100 million in restructuring expenditures and charges, primarily related to employee transition, severance payments, employee benefits and facility closure costs, and $35 million in other non-recurring costs which mostly consist of consulting, legal and other professional service fees. The plan is expected to be substantially completed by mid-2024. The estimates of these charges and their timing are subject to several assumptions, including local law requirements in various jurisdictions and co-determination aspects in countries where required. Actual amounts may differ materially from estimates. In addition, the Company may incur other charges or cash expenditures in connection with this plan which are not currently contemplated.

The liabilities associated with the Company’s restructuring plans are recorded in Accrued liabilities and Other noncurrent liabilities in the Consolidated Balance Sheets. Activity in the Company’s restructuring accruals at December 31, 2023 was as follows:


	Severance
(in millions)	2021 and Prior Plans		2022 Plans		2023 Plans		Total

Balance at December 31, 2022	$	4	$	3	$	—	$	7
Provisions and adjustments	—		2		62		64
Amounts applied	(2)		(3)		(24)		(29)
Change in estimates	—		(2)		(1)		(3)
Balance at December 31, 2023	$	2	$	—	$	37	$	39


	Other Restructuring Costs
(in millions)	2021 and Prior Plans		2022 Plans		2023 Plans		Total

Balance at December 31, 2022	$	—	$	1	$	—	$	1
Provisions and adjustments	1		—		9		10
Amounts applied	(1)		—		(8)		(9)
Change in estimates	—		—		(1)		(1)
Balance at December 31, 2023	$	—	$	1	$	—	$	1

The cumulative amounts for the provisions and adjustments and amounts applied for all the plans by segment were as follows:


(in millions)	December 31, 2022		Provisions and Adjustments		Amounts Applied		Change in Estimates		December 31, 2023

Connected Technology Solutions	$	3	$	18	$	(8)	$	—	$	13
Essential Dental Solutions	4		25		(10)		(2)		17
Orthodontic and Implant Solutions	1		16		(7)		(1)		9
Wellspect Healthcare	—		5		(3)		(1)		1
All Other	—		10		(10)		—		—
Total	$	8	$	74	$	(38)	$	(4)	$	40

The Company’s restructuring accruals at December 31, 2022 were as follows:


	Severances
(in millions)	2020 and Prior Plans		2021 Plans		2022 Plans		Total

Balance at December 31, 2021	$	5	$	9	$	—	$	14
Provisions and adjustments	1		1		9		11
Amounts applied	(3)		(6)		(5)		(14)
Change in estimates	(2)		(1)		(1)		(4)
Balance at December 31, 2022	$	1	$	3	$	3	$	7


	Other Restructuring Costs
(in millions)	2020 and Prior Plans		2021 Plans		2022 Plans		Total

Balance at December 31, 2021	$	4	$	—	$	—	$	4
Provisions and adjustments	1		2		2		5
Amounts applied	(4)		(2)		(1)		(7)
Change in estimates	(1)		—		—		(1)
Balance at December 31, 2022	$	—	$	—	$	1	$	1

The cumulative amounts for the provisions and adjustments and amounts applied for all the plans by segment were as follows:


(in millions)	December 31, 2021		Provisions and Adjustments		Amounts Applied		Change in Estimates		December 31, 2022

Connected Technology Solutions	$	7	$	5	$	(5)	$	(4)	$	3
Essential Dental Solutions	5		4		(5)		—		4
Orthodontic and Implant Solutions	5		2		(5)		(1)		1
Wellspect Healthcare	1		1		(2)		—		—
All Other	—		4		(4)		—		—
Total	$	18	$	16	$	(21)	$	(5)	$	8

COMPREHENSIVE (LOSS) INCOME - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign currency tax adjustments	$ 166	$ 100	$ 168
Stockholders' equity	(3,294)	(3,812)	$ (4,997)	$ (4,935)
Accumulated foreign currency adjustment, translation gain (loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity	360	438
Accumulated foreign currency adjustment, net investments hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' equity	$ 113	$ 84

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

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-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4I

+ Details

RESTRUCTURING AND OTHER COSTS - PROVISIONS AND ADJUSTMENTS AND AMOUNTS APPLIED FOR ALL PLANS BY SEGMENT (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restructuring Reserve
Beginning balance	$ 8	$ 18
Provisions and adjustments	74	16
Amounts applied	(38)	(21)
Change in estimates	(4)	(5)
Ending balance	40	8
Operating Segments \| Connected Technology Solutions
Restructuring Reserve
Beginning balance	3	7
Provisions and adjustments	18	5
Amounts applied	(8)	(5)
Change in estimates	0	(4)
Ending balance	13	3
Operating Segments \| Essential Dental Solutions
Restructuring Reserve
Beginning balance	4	5
Provisions and adjustments	25	4
Amounts applied	(10)	(5)
Change in estimates	(2)	0
Ending balance	17	4
Operating Segments \| Orthodontic and Implant Solutions
Restructuring Reserve
Beginning balance	1	5
Provisions and adjustments	16	2
Amounts applied	(7)	(5)
Change in estimates	(1)	(1)
Ending balance	9	1
Operating Segments \| Wellspect Healthcare
Restructuring Reserve
Beginning balance	0	1
Provisions and adjustments	5	1
Amounts applied	(3)	(2)
Change in estimates	(1)	0
Ending balance	1	0
All Other
Restructuring Reserve
Beginning balance	0	0
Provisions and adjustments	10	4
Amounts applied	(10)	(4)
Change in estimates	0	0
Ending balance	$ 0	$ 0

FINANCIAL INSTRUMENTS AND DERIVATIVES - ADDITIONAL INFORMATION (Details) € in Millions, SFr in Millions				1 Months Ended	12 Months Ended
	Feb. 13, 2024 USD ($)	Jul. 01, 2021 USD ($)	May 26, 2020 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 EUR (€)	Oct. 01, 2023 CHF (SFr)	Jul. 20, 2023 CHF (SFr)	Jul. 02, 2021 USD ($)	May 25, 2021 EUR (€) derivative_instrument
Derivative [Line Items]
Remaining loss to be amortized from AOCI in future periods					$ 19,000,000	$ 23,000,000
Cash received on derivative contracts					39,000,000	13,000,000	$ 2,000,000
Senior Unsecured Notes Maturing June 1, 2030 \| Senior Notes
Derivative [Line Items]
Debt instrument face amount		$ 750,000,000	$ 750,000,000
Debt instrument, interest rate, stated percentage		3.30%									1.70%
Senior Unsecured Notes Maturing June 1, 2030 \| Senior Notes \| Subsequent Event
Derivative [Line Items]
Loss on derivative	$ 8,000,000
Cash Flow Hedges \| Designated as Hedging Instrument
Derivative [Line Items]
Notional amount					23,000,000
Hedges of Net Investments \| Designated as Hedging Instrument
Derivative [Line Items]
Notional amount					$ 1,185,000,000
Foreign exchange forward contracts \| Cash Flow Hedges \| Designated as Hedging Instrument
Derivative [Line Items]
Debt instrument, term					18 months
Notional amount					$ 23,000,000
Foreign exchange forward contracts \| Hedges of Net Investments \| Designated as Hedging Instrument
Derivative [Line Items]
Notional amount \| €								€ 890
Treasury Lock \| Cash Flow Hedges
Derivative [Line Items]
Repayments of debt			31,000,000
Notional amount			$ 150,000,000
Long-term debt, term			10 years
Cross currency basis swaps \| Designated as Hedging Instrument
Derivative [Line Items]
Loss recognized in OCI					3,000,000
Cross currency basis swaps \| Hedges of Net Investments \| Designated as Hedging Instrument
Derivative [Line Items]
Notional amount					295,000,000
Loss recognized in OCI					18,000,000	(30,000,000)	(13,000,000)
Cross Currency Interest Rate Contract
Derivative [Line Items]
Notional amount											$ 300,000,000
Foreign exchange forward contracts \| Cash Flow Hedges \| Designated as Hedging Instrument
Derivative [Line Items]
Loss recognized in OCI					0	1,000,000	(3,000,000)
Foreign exchange forward contracts \| Hedges of Net Investments \| Designated as Hedging Instrument
Derivative [Line Items]
Notional amount					160,000,000				SFr 600	SFr 600		€ 10
Loss recognized in OCI					29,000,000	(11,000,000)	(10,000,000)
Derivative, number of instruments held \| derivative_instrument												8
Cash received on derivative contracts				$ 32,000,000
Interest rate swaps
Derivative [Line Items]
Notional amount		$ 250,000,000
Interest rate swaps \| Subsequent Event
Derivative [Line Items]
Payment made to settle variable interest swaps	9,000,000
Interest rate swaps \| Cash Flow Hedges \| Designated as Hedging Instrument
Derivative [Line Items]
Loss recognized in OCI					$ 0	$ 0	$ 0
Interest Rate Swap Maturing June 1, 2026
Derivative [Line Items]
Notional amount		$ 100,000,000
Derivative, term of contract		5 years
Interest Rate Swap Maturing June 1, 2026 \| Subsequent Event
Derivative [Line Items]
Notional amount	$ 100,000,000
Interest Rate Swap Maturing March 1, 2030
Derivative [Line Items]
Notional amount		$ 150,000,000
Derivative, term of contract		9 years

STOCK COMPENSATION - ADDITIONAL INFORMATION (Details) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized grants under the plan (in shares) \| shares	25
Conversion ratio for RSUs and restricted stock	3.09
Number of shares available for grant (in shares) \| shares	12
Intrinsic value of options exercised \| $	$ 0	$ 1	$ 16
Weighted average remaining contractual life	5 years 8 months 12 days
Weighted average remaining contractual term of exercisable options	3 years 7 months 6 days
Weighted average remaining contractual term options expected to vest	8 years 9 months 18 days
Key Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cap on restricted stock or RSU (in shares) \| shares	1
Nonqualified Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unvested stock options (in shares) \| shares	1
Unamortized compensation costs \| $	$ 9
Weighted average period for cost recognition	2 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized compensation costs \| $	$ 57
Weighted average period for cost recognition	1 year 10 months 24 days
Weighted average grant date fair value of RSUs granted (in dollars per share) \| $ / shares	$ 40.91	$ 39.73	$ 63.61
Total fair value of share vested during the period \| $	$ 42	$ 49	$ 76

BENEFIT PLANS - RECONCILIATION OF CHANGES IN THE DEFINED BENEFIT AND POSTRETIREMENT HEALTHCARE PLANS' BENEFIT OBLIGATIONS, FIAR VALUE OF ASSETS AND FUNDED STATUS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Change in Benefit Obligation
Benefit obligation at beginning of year	$ 440	$ 619
Service cost	10	12
Interest cost	14	5	$ 3
Participant contributions	4	4
Actuarial losses (gains)	38	(149)
Effect of exchange rate changes	26	(35)
Plan curtailments and settlements	0	(1)
Benefits paid	(21)	(15)
Benefit obligation at end of year	511	440	619
Change in Plan Assets
Fair value of plan assets at beginning of year	182	212
Actual return on assets	10	(28)
Plan settlements	0	(1)
Effect of exchange rate changes	17	(5)
Employer contributions	15	15
Participant contributions	4	4
Benefits paid	(21)	(15)
Fair value of plan assets at end of year	207	182	$ 212
Funded status at end of year	$ (304)	$ (258)

ACCRUED LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2023

Other Liabilities Disclosure [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities were as follows:


	Year Ended December 31,
(in millions)	2023		2022

Payroll, commissions, bonuses, other cash compensation and employee benefits	$	161	$	156
Sales and marketing programs	68		65
Reserve for distributor rebates	151		163
Restructuring costs	37		7
Accrued vacation and holidays	32		32
Professional and legal costs	25		27
Current portion of derivatives	18		19
General insurance	11		12
Warranty liabilities	24		22
Third party royalties	5		7
Deferred income	91		84
Accrued interest	9		9

Accrued property taxes	6		6
Current operating lease liabilities	56		54

Other	55		64
Accrued liabilities	$	749	$	727

FAIR VALUE MEASUREMENT

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENT

The estimated fair value and carrying value of the Company’s total debt was $2,018 million and $2,118 million, respectively, at December 31, 2023. At December 31, 2022, the estimated the fair value and carrying value was $1,769 million and $1,944 million, respectively. The fair value of long-term debt is based on recent trade information in the financial markets of the Company’s public debt or is determined by discounting future cash flows using interest rates available at December 31, 2023 to companies with similar credit ratings for issues with similar terms and maturities. It is considered a Level 2 fair value measurement for disclosure purposes.

Assets and liabilities measured at fair value on a recurring basis

The Company’s financial assets and liabilities set forth by level within the fair value hierarchy that were accounted for at fair value on a recurring basis were as follows:


	Year Ended December 31, 2023
(in millions)	Total		Level 1		Level 2		Level 3

Assets



Cross currency interest rate swaps	$	8	$	—	$	8	$	—
Foreign exchange forward contracts	8		—		8		—

Total assets	$	16	$	—	$	16	$	—

Liabilities
Interest rate swaps	$	28	$	—	$	28	$	—


Foreign exchange forward contracts	56		—		56		—

Contingent considerations on acquisitions	4		—		—		4

Total liabilities	$	88	$	—	$	84	$	4


	Year Ended December 31, 2022
(in millions)	Total		Level 1		Level 2		Level 3

Assets



Cross currency interest rate swaps	$	26	$	—	$	26	$	—
Foreign exchange forward contracts	38		—		38		—


Total assets	$	64	$	—	$	64	$	—

Liabilities
Interest rate swaps	$	34	$	—	$	34	$	—


Foreign exchange forward contracts	12		—		12		—

Contingent considerations on acquisitions	4		—		—		4

Total liabilities	$	50	$	—	$	46	$	4

Derivative valuations are based on observable inputs to the valuation model including interest rates, foreign currency exchange rates, and credit risks. The Company utilizes interest rates swaps and foreign exchange forward contracts that are considered cash flow hedges. In addition, the Company at times employs certain cross currency interest rate swaps and foreign exchange forward contracts that are considered hedges of net investment in foreign operations. Both types of designated derivative instruments are further discussed in Note 19, Financial Instruments and Derivatives.

Assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (level 3)

The Company’s Level 3 liabilities at December 31, 2023 are related to earn-out obligations from acquisitions and licensing arrangements. The following table presents a reconciliation of the Company’s Level 3 holdings measured at fair value on a recurring basis using unobservable inputs:



(in millions)	Level 3

Balance, December 31, 2021	$	10


Payments	(6)

Balance, December 31, 2022	$	4


Payments	—

Balance, December 31, 2023	$	4

There were no additional purchases or transfers of Level 3 financial instruments in 2023 and 2022.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

The Company assesses both goodwill and indefinite-lived intangible assets for impairment annually as of April 1 or more frequently if events or changes in circumstances indicate the asset might be impaired.

On April 1, 2023, the Company realigned its reporting units due to a change in organizational structure. Reporting units under the former structure were tested for impairment prior to the realignment, and no impairment was identified.

As a result of the realignment, the Company reallocated its goodwill to align its new reporting units which resulted from the change in its operating segments. Goodwill was reassigned to each of the new reporting units using a relative fair value approach. The Company assessed the goodwill of the new reporting units and its indefinite-lived intangible assets for impairment as of April 1, 2023. Based on this test, it was determined that the fair values of its reporting units and indefinite-lived intangible assets more likely than not exceeded their carrying values, resulting in no impairment.

For both the former and new structure goodwill impairment tests as of April 1, 2023, the fair values of reporting units were computed using a discounted cash flow model with inputs developed using both internal and market-based data.

Third Quarter 2023 Impairment

In the quarter ended September 30, 2023, the Company identified indicators of a more likely than not impairment related to its Connected Technology Solutions reporting unit, which comprises all the Connected Technology Solutions segment. The decline in fair value for this reporting unit was driven by adverse macroeconomic factors because of weakened demand, particularly in European markets, and increased discount rates. Core underlying market interest rates, which serve as the basis for the discount rate assumptions in our impairment models, rose by approximately 110 bps between the annual impairment test and the interim test during the third quarter of 2023. These factors contributed to reduced forecasted revenues, lower operating margins, and reduced expectations for future cash flows in the near term, particularly in relation to demand for products which are commonly financed by end customers and are therefore adversely impacted by an environment of higher interest rates. The higher inflationary environment has also impacted the discretionary spending behavior of our customers more generally, further reducing global demand for certain products in favor of lower cost options. As such, an impairment test was performed in the third quarter of 2023 (the “third quarter test”).

During the third quarter test, the fair value of the Connected Technology Solutions reporting unit was computed using a discounted cash flow model with inputs developed using both internal and market-based data. The discounted cash flow model uses ten-year forecasted cash flows plus a terminal value based on capitalizing the last period’s cash flows using a perpetual growth rate. Significant assumptions used in the discounted cash flow model included, but were not limited to, a discount rate of 11.5%, revenue growth rates (including perpetual growth rates), and operating margin percentages of the reporting unit’s business. As a result, the Company recorded a pre-tax goodwill impairment charge for the three months ended September 30, 2023 related to the Connected Technology Solutions reporting unit of $291 million, resulting in a full write-off of the remaining goodwill balance for the Connected Technology Solutions segment. This charge was recorded in Goodwill and intangible asset impairment in the Consolidated Statement of Operations.

Additionally, in conjunction with the third quarter test, the Company tested the long-lived intangible assets related to the businesses within the Connected Technology Solutions reporting unit within the Connected Technology Solutions segment for impairment. The Company also identified an indicator of impairment for the indefinite-lived intangible assets within the Implants & Prosthetics reporting unit within the Orthodontic and Implant Solutions segment, and determined certain tradenames and trademarks were impaired. These indefinite-lived intangible assets were evaluated for impairment using an income approach, specifically a relief from royalty method. Significant assumptions used in the relief from royalty method included, but were not limited to, discount rates (ranging from 11.5% to 16.5%) revenue growth rates (including perpetual growth rates), and royalty rates. As a result, the Company recorded indefinite-lived intangible asset impairment charges of $14 million and $2 million for the Connected Technology Solutions and Orthodontic and Implant Solutions segments, respectively, for the three months ended September 30, 2023. The impairment charge was primarily driven by macroeconomic factors such as weakened demand, higher cost of capital, and cost inflation, which are contributing to reduced forecasted revenues. These charges were recorded in Goodwill and intangible asset impairment in the Consolidated Statements of Operations.

The carrying values of indefinite-lived intangible assets impaired in the third quarter of 2023 were $215 million and $23 million for the Connected Technology Solutions and Orthodontic and Implant Solutions segments, respectively, as of December 31, 2023. As the fair value of these indefinite-lived intangible assets continues to approximate carrying value as of December 31, 2023, any further decline in key assumptions could result in additional impairments in future periods.

As of December 31, 2023, the Company considered qualitative and quantitative factors to determine whether any events or changes in circumstances had resulted in the likelihood that the goodwill or indefinite-lived intangible assets may have become more likely than not impaired during the fourth quarter of 2023 and concluded there were no such indicators.

Any deviation in actual financial results compared to the forecasted financial results or valuation assumptions used in the annual or interim tests, a decline in equity valuations, increases in interest rates, or changes in the use of intangible assets, among other factors, could have a material adverse effect to the fair value of either the reporting units or indefinite-lived intangibles assets and could results in a future impairment charge. There can be no assurance that the Company’s future asset impairment testing will not result in a material charge to earnings.

2022 Annual Goodwill and Indefinite-Lived Intangibles Impairment and Testing

In the third and fourth quarters of 2022, the Company experienced adverse macroeconomic factors because of weakened global demand, higher cost of capital, unfavorable foreign currency impacts, and increased raw material, supply chain, and service costs, which contributed to reduced forecasted revenues, lower operating margins, and reduced expectations for future cash flows. As a result, the Company identified indicators of a more likely than not impairment related to its former Digital Dental Group and former Equipment & Instruments reporting units within the former Technologies & Equipment segment and certain indefinite-lived intangible assets, within these former reporting units as well as the former Consumables reporting unit within the former Consumables segment.

The fair values of the two former reporting units above were computed using a discounted cash flow model with inputs developed using both internal and market-based data. The discounted cash flow model uses five- to ten- year forecasted cash flows plus a terminal value based on capitalizing the last period’s cash flows using a perpetual growth rate. The Company’s significant assumptions in the discounted cash flow models include, but are not limited to, the discount rate of 11.0%, revenue growth rates (including perpetual growth rates), operating margin percentages, and net working capital changes of the reporting unit’s business. These assumptions were developed in consideration of current market conditions and future expectations which include, but were not limited to, distribution channel changes, impact from competition, and new product developments. The Company also considered current and projected market and economic conditions. As a result, the Company recorded a pre-tax goodwill impairment charge related to the former Digital Dental Group and former Equipment & Instruments reporting units within the former Technologies & Equipment segment of $1,100 million and $87 million, respectively, for the three months ended September 30, 2022. This charge was recorded in Goodwill and intangible asset impairment in the Consolidated Statements of Operations.

The fair values of intangible assets were computed using either an income approach, specifically a relief from royalty method, or a qualitative assessment. The Company’s significant assumptions in the relief from royalty method include, but were not limited to, discount rates ranging from 11.0% to 12.5%, revenue growth rates (including perpetual growth rates) and royalty rates. As a result, the Company recorded impairment charges for its indefinite-lived intangible assets of $66 million and $28 million for the former Digital Dental Group and former Equipment & Instruments reporting units, respectively, within the former Technologies & Equipment segment, and a $6 million charge for the former Consumables reporting unit within the former Consumables segment, for the year ended December 31, 2022. This charge was recorded in Goodwill and intangible asset impairment in the Consolidated Statements of Operations.

2021 Annual Goodwill and Indefinite-Lived Intangibles Impairment and Testing

The Company performed the required annual impairment tests of goodwill and indefinite-lived intangibles as of April 1, 2021 consistent with the valuation approaches described above, which did not result in any impairment for the year ended December 31, 2021.

A reconciliation of changes in the Company’s goodwill by reportable segment were as follows:


(in millions)	Technologies & Equipment		Consumables		Connected Technology Solutions		Essential Dental Solutions		Orthodontic and Implant Solutions		Wellspect Healthcare		Total

Balance at December 31, 2022
Goodwill	5,902		866		$	—	$	—	$	—	$	—	$	6,768
Accumulated impairment losses	(4,080)		—		—		—		—		—		(4,080)
Goodwill, net December 31, 2022	$	1,822	$	866	$	—	$	—	$	—	$	—	$	2,688



Translation	9		4		—		—		—		—		13

Balance at March 31, 2023
Goodwill	$	5,911	$	870	$	—	$	—	$	—	$	—	$	6,781
Accumulated impairment losses	(4,080)		—		—		—		—		—		(4,080)
Goodwill, net March 31, 2023	$	1,831	$	870	$	—	$	—	$	—	$	—	$	2,701

Realignment of goodwill	(1,831)		(870)		293		835		1,303		270		$	—
Translation	—		—		—		1		(5)		6		2
Goodwill, net June 30, 2023	$	—	$	—	$	293	$	836	$	1,298	$	276	$	2,703

Impairment	—		—		(291)		—		—		—		(291)
Translation	—		—		(2)		4		25		(1)		26

Balance at December 31, 2023
Goodwill	$	—	$	—	$	291	$	840	$	1,323	$	275	$	2,729
Accumulated Impairment Losses	—		—		(291)		—		—		—		(291)
Balance at December 31, 2023	$	—	$	—	$	—	$	840	$	1,323	$	275	$	2,438

Identifiable definite-lived and indefinite-lived intangible assets at were as follows:


	Year Ended December 31,
	2023						2022
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Developed technology and patents	$	1,697	$	(1,006)	$	691	$	1,658	$	(848)	$	810
Tradenames and trademarks	271		(102)		169		273		(96)		177
Licensing agreements	30		(27)		3		30		(26)		4
Customer relationships	1,070		(680)		390		1,057		(600)		457
Total definite-lived	$	3,068	$	(1,815)	$	1,253	$	3,018	$	(1,570)	$	1,448

Indefinite-lived tradenames and trademarks	447		—		447		450		—		450
In-process R&D (a)	5		—		5		5		—		5
Total indefinite-lived	452		—		452		455		—		455

Total identifiable intangible assets	$	3,520	$	(1,815)	$	1,705	$	3,473	$	(1,570)	$	1,903

Amortization expense for definite-lived intangible assets for the years ended December 31, 2023, 2022 and 2021 was $211 million, $209 million and $222 million, respectively. The estimated annual amortization expense related to these intangible assets for each of the five succeeding calendar years is $212 million, $219 million, $143 million, $124 million and $128 million for 2024, 2025, 2026, 2027 and 2028, respectively.

During the second quarter of 2021, the Company purchased certain developed technology rights for an initial payment of $3 million. The purchase consideration also includes contingent payments of $17 million to be made upon reaching certain regulatory and commercial milestones, which were not yet considered probable at December 31, 2023.

BENEFIT PLANS - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution of first 1% of contribution	100.00%
Employer matching contribution of next 5% of contribution	50.00%
Employer maximum matching contribution	3.50%
Defined contribution plan, cost recognized	$ 43	$ 41	$ 39
Gain (loss) attributable to discount rates	(35)	162
Gain (loss) attributable to plan experience different than anticipated	$ (3)	14
Gain attributable to demographic assumption changes		$ 1
Expected return on plan assets	2.00%
Percentage of total plan assets categorized as level 1	84.00%	84.00%
Expected contributions to defined benefit pension plans in 2024	$ 18
Minimum \| Defined Benefit Plan, Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan asset of equity securities	30.00%
Minimum \| Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan asset of equity securities	30.00%
Minimum \| Real Estate
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan asset of equity securities	0.00%
Minimum \| Other Investments
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan asset of equity securities	0.00%
Maximum \| Defined Benefit Plan, Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan asset of equity securities	65.00%
Maximum \| Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan asset of equity securities	65.00%
Maximum \| Real Estate
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan asset of equity securities	15.00%
Maximum \| Other Investments
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan asset of equity securities	25.00%
Common Stock
Defined Benefit Plan Disclosure [Line Items]
ESOP target contribution	3.00%

FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Short-Term Debt

Short-term debt was as follows:


	Year Ended December 31,
	2023				2022
	Principal		Interest		Principal		Interest
(in millions except percentages)	Balance		Rate		Balance		Rate


Corporate commercial paper facility	$	225	5.8	%	$	95	5.1	%
Other short-term borrowings	20		4.9	%	22		4.6	%
Add: Current portion of long-term debt	77				1

Total short-term debt	$	322			$	118

Maximum month-end short-term debt outstanding during the year	$	399			$	395
Average amount of short-term debt outstanding during the year	284				289
Weighted-average interest rate on short-term debt at year-end			5.7	%			5.0	%

Schedule of Long-term Debt

Long-term debt was as follows:


	Year Ended December 31,
	2023				2022
	Principal		Interest		Principal		Interest
(in millions except percentages)	Balance		Rate		Balance		Rate


Private placement notes 70 million euros due October 2024	$	77	1.0	%	$	75	1.0	%
Private placement notes 25 million Swiss franc due December 2025	30		0.9	%	27		0.9	%
Private placement notes 97 million euros due December 2025	107		2.1	%	104		2.1	%
Private placement notes 26 million euros due February 2026	29		2.1	%	28		2.1	%
Private placement notes 58 million Swiss franc due August 2026	69		1.0	%	63		1.0	%
Private placement notes 106 million euros due August 2026	117		2.3	%	114		2.3	%
Private placement notes 70 million euros due October 2027	77		1.3	%	75		1.3	%
Private placement notes 8 million Swiss franc due December 2027	9		1.0	%	8		1.0	%
Private placement notes 15 million euros due December 2027	17		2.2	%	16		2.2	%
Private placement notes 140 million Swiss franc due August 2028	166		1.2	%	151		1.2	%
Private placement notes 70 million euros due October 2029	77		1.5	%	75		1.5	%
Fixed rate senior notes 750 million due June 2030	750		3.3	%	750		3.3	%
Private placement notes 70 million euros due October 2030	77		1.6	%	75		1.6	%
Private placement notes 45 million euros due February 2031	50		2.5	%	48		2.5	%
Private placement notes 65 million Swiss franc due August 2031	77		1.3	%	70		1.3	%
Private placement notes 12.6 billion Japanese yen due September 2031	89		1.0	%	96		1.0	%
Private placement notes 70 million euros due October 2031	77		1.7	%	75		1.7	%
Other borrowings, various currencies and rates	14				21
Hedge accounting fair value adjustment(a)	(28)				(35)
	$	1,881			$	1,836
Less: Current portion
(included in “Notes payable and current portion of long-term debt” in the Consolidated Balance Sheets)	77				1
Less: Long-term portion of deferred financing costs	8				9
Long-term portion	$	1,796			$	1,826

(a) Represents the fair value of interest rate swap agreements entered into on a portion of the outstanding senior notes.

Schedule of Contractual Maturity Dates of Long-term Debt

The contractual maturity dates of the Company’s long-term borrowings as of December 31, 2023 were as follows:


(in millions)
2024	$	77
2025	148
2026	218
2027	103
2028	166
2029 and beyond	1,197
	$	1,909

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of (Loss) Income Before Income Taxes from Operations

The components of (loss) income before income taxes were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

United States	$	(6)	$	(531)	$	51
Foreign	(169)		(524)		494
Total (loss) income before income taxes	$	(175)	$	(1,055)	$	545

Schedule of Components of the (Benefit) Provision for Income Taxes from Operations

The components of the (benefit) provision for income taxes from operations were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

Current:
U.S. federal	$	1	$	1	$	1
U.S. state	—		4		4
Foreign	86		118		154
Total	$	87	$	123	$	159

Deferred:
U.S. federal	$	4	$	(145)	$	10
U.S. state	(3)		(17)		2
Foreign	(131)		(66)		(37)
Total	$	(130)	$	(228)	$	(25)

Total (benefit) provision for income taxes	$	(43)	$	(105)	$	134

Schedule of Reconciliation of the U.S. Federal Statutory Tax Rate to the Effective Rate

The reconciliation of the U.S. federal statutory tax rate to the effective rate were as follows:


	Year Ended December 31,
(in millions, except percentages)	2023				2022				2021

Statutory U.S. federal income tax rate	$	(37)	21.0	%	$	(222)	21.0	%	$	114	21.0	%
Effect of:
State income taxes, net of federal benefit	(2)		1.4		(11)		1.0		4		0.8
Federal benefit of R&D and foreign tax credits	(17)		10.0		(8)		0.8		(5)		(0.9)
US other permanent differences	5		(2.7)		9		(0.9)		2		0.4
Tax effect of international operations	(65)		37.2		(5)		0.5		2		0.3
Global Intangible Low Taxed Income (GILTI)	12		(7.0)		20		(1.9)		13		2.4
Foreign Derived Intangible Income (FDII)	(9)		5.2		(8)		0.8		(7)		(1.3)
Net effect of tax audit activity	(6)		3.2		15		(1.4)		9		1.6
Tax effect of enacted statutory rate changes on Non-U.S. jurisdictions	1		(0.4)		(3)		0.3		10		1.9
Federal tax on unremitted earnings of certain foreign subsidiaries	2		(0.9)		1		(0.1)		(1)		(0.2)
Valuation allowance adjustments	5		(3.2)		(9)		0.8		(9)		(1.7)
Tax effect of impairment of goodwill and intangibles	60		(34.6)		114		(10.8)		—		—
Other	8		(4.4)		2		(0.2)		2		0.3

Effective income tax rate on operations	$	(43)	24.8	%	$	(105)	9.9	%	$	134	24.6	%

Schedule of Tax Effect of Significant Temporary Differences Giving Rise to Deferred Tax Assets and Liabilities

The tax effect of significant temporary differences giving rise to deferred tax assets and liabilities were as follows:


	Year Ended December 31,
(in millions)	2023		2022

Deferred tax assets
Employee benefit accruals	$	55	$	55
Inventory	15		9
Miscellaneous accruals	51		37
Other	44		48
Lease right-of-use liability	46		48
Net unrealized gains/losses included in AOCI	36		—
Foreign tax credit and R&D carryforward	43		40
Tax loss carryforwards and other tax attributes	948		654
Total deferred tax assets	$	1,238	$	891
Less: Valuation allowances	(863)		(645)
Total deferred tax assets, net	$	375	$	246

Deferred tax liabilities
Identifiable intangible assets	$	(298)	$	(325)
Property, plant and equipment	(38)		(41)
Lease right-of-use asset	(46)		(47)
Net unrealized gains/losses included in AOCI	—		(13)
Taxes on unremitted earnings of foreign subsidiaries	(8)		(6)
Total deferred tax liabilities	(390)		(432)
Net deferred tax liabilities	$	(15)	$	(186)

Schedule of Deferred Tax Assets and Liabilities Included in the Consolidated Balance Sheet

Deferred tax assets and liabilities are included in the following Consolidated Balance Sheets line items at December 31 were as follows:


	Year Ended December 31,
(in millions)	2023		2022

Assets
Other noncurrent assets	$	213	$	101
Liabilities
Deferred income taxes	$	228	$	287

Schedule of Unrecognized Tax Benefits

The activity recorded for unrecognized tax benefits were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

Unrecognized tax benefits at beginning of period	$	49	$	34	$	27
Gross change for prior-period positions	1		12		6
Gross change for current year positions	95		4		2


Decrease due to settlements and payments	(9)		—		—
Decrease due to statute expirations	(4)		—		—

Decrease due to effect from foreign currency translation	—		(1)		(1)

Unrecognized tax benefits at end of period	$	132	$	49	$	34

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

Contingencies

On June 7, 2018, and August 9, 2018, two putative class action suits were filed, and later consolidated, in the Supreme Court of the State of New York, County of New York claiming that the Company and certain individual defendants, violated U.S. securities laws (the “State Court Action”) by making material misrepresentations and omitting required information in the December 4, 2015 registration statement filed with the SEC in connection with the 2016 merger of Sirona Dental Systems Inc. (“Sirona”) with DENTSPLY International Inc. (the “Merger”). The amended complaint alleges that the defendants failed to disclose, among other things, that a distributor had purchased excessive inventory of legacy Sirona products and that three distributors of the Company’s products had been engaging in anticompetitive conduct. The plaintiffs seek to recover damages on behalf of a class of former Sirona shareholders who exchanged their shares for shares of the Company’s stock in the Merger. On September 26, 2019, the Court granted the Company’s motion to dismiss all claims and a judgment dismissing the case was subsequently entered. On February 4, 2020, the Court denied plaintiffs’ post-judgment motion to vacate or modify the judgment and to grant them leave to amend their complaint. The plaintiffs appealed the dismissal and the denial of the post-judgment motion to the Supreme Court of the State of New York, Appellate Division, First Department, and the Company cross-appealed select rulings in the Court’s decision dismissing the action. The plaintiffs’ appeals and the Company’s cross-appeal were consolidated and argued on January 12, 2021. On February 2, 2021, the Appellate Division issued its decision upholding the dismissal of the State Court Action with prejudice on statute of limitations grounds. The Plaintiffs did not appeal the Appellate Division decision.

On December 19, 2018, a related putative class action was filed in the U.S. District Court for the Eastern District of New York against the Company and certain individual defendants. The plaintiff makes similar allegations and asserts the same claims as those asserted in the State Court Action. In addition, the plaintiff alleges that the defendants violated U.S. securities laws by making false and misleading statements in quarterly and annual reports and other public statements between February 20, 2014, and August 7, 2018. The plaintiff asserts claims on behalf of a putative class consisting of (a) all purchasers of the Company’s stock during the period February 20, 2014 through August 7, 2018 and (b) former shareholders of Sirona who exchanged their shares of Sirona stock for shares of the Company’s stock in the Merger. The Company moved to dismiss the amended complaint on August 15, 2019. The plaintiff filed its second amended complaint on January 22, 2021, and the Company filed a motion to dismiss the second amended complaint on March 8, 2021, with briefing on the motion fully submitted on May 21, 2021. The Company’s motion to dismiss was denied in a ruling by the Court on March 29, 2023 and the Company’s answer to the second amended complaint was filed on May 12, 2023. On September 29, 2023, the plaintiff filed a motion for class certification. The Company’s opposition to the plaintiff’s motion for class certification was filed on February 8, 2024, with briefing on the plaintiff’s motion to be fully completed by April 10, 2024.

On June 2, 2022, the Company was named as a defendant in a putative class action filed in the U.S. District Court for the Southern District of Ohio captioned City of Miami General Employees’ & Sanitation Employees’ Retirement Trust v. Casey, Jr. et al., No. 2:22-cv-02371 (S.D. Ohio), and on July 28, 2022, the Company was named as a defendant in a putative class action filed in the U.S. District Court for the Southern District of New York captioned San Antonio Fire and Police Pension Fund v. Dentsply Sirona Inc. et al., No. 1:22-cv-06339 (together, the “Securities Litigation”). The complaints in the Securities Litigation are substantially similar and both allege that, during the period from June 9, 2021 through May 9, 2022, the Company, Mr. Donald M. Casey Jr., the Company’s former Chief Executive Officer, and Mr. Jorge Gomez, the Company’s former Chief Financial Officer, violated U.S. securities laws by, among other things, making materially false and misleading statements or omissions, including regarding the manner in which the Company recognized revenue tied to distributor rebate and incentive programs. On March 27, 2023, the Court in the Southern District of Ohio ordered the transfer of the putative class action to the Southern District of New York (the “Court”). On June 1, 2023, the Court consolidated the two separate actions under case No. 1:22-cv-06339 and appointed the City of Birmingham Retirement and Relief System, the El Paso Firemen & Policemen’s Pension Fund, and the Wayne County Employees’ Retirement System as Lead Plaintiffs for the putative class. Lead Plaintiffs filed an amended class action complaint on July 28, 2023 (the “Amended Complaint”). In addition to asserting the same claims against the Company, Mr. Casey, and Mr. Gomez, the Amended Complaint added the Company’s former Chief Accounting Officer, Mr. Ranjit S. Chadha, as a defendant (collectively, “Defendants”). On October 10, 2023, Defendants filed a motion to dismiss the Amended Complaint. Lead Plaintiffs’ opposition to Defendants’ motion to dismiss was filed on December 8, 2023, and Defendants’ reply was filed on January 8, 2024. The motion to dismiss is still pending.

In addition to the Securities Litigation, as previously disclosed, the Company voluntarily contacted the SEC following the Company’s announcement on May 10, 2022, of the Audit and Finance Committee’s internal investigation. The Company continues to cooperate with the SEC regarding this matter.

Separately, on July 13, 2023, Dentsply Sirona stockholder George Presura filed a shareholder derivative suit in the Delaware Court of Chancery captioned George Presura, Derivatively on Behalf of Nominal Defendant Dentsply Sirona Inc. v. Donald M. Casey Jr. et al. and Dentsply Sirona, Inc., No. 2023-0708-NAC (the “Derivative Litigation”). The complaint, filed derivatively on behalf of the Company, asserts claims against current and former members of the Company’s Board of Directors and current and former executive officers, including Messrs. Casey and Gomez. The derivative complaint in this case contains allegations similar to those in the Securities Litigation, and it alleges that during the period from June 9, 2021 through July 13, 2023, various of the defendants breached fiduciary duties, committed corporate waste, and misappropriated information to conduct insider trading by making materially false and misleading statements or omissions regarding the Company’s recognition of revenue tied to distributor rebate and incentive programs and distributor inventory levels. On August 4, 2023, the Delaware Court of Chancery stayed the Derivative Litigation until the earlier of a public announcement of a settlement of the Securities Litigation or a resolution of the pending motion to dismiss in the Securities Litigation.

On March 21, 2023, Mr. Carlo Gobbetti filed a claim in the Milan Chamber of Arbitration against Dentsply Sirona Italia S.r.l. (“DSI”), Italy, a wholly owned subsidiary of the Company, seeking a total of €28 million for the alleged failure to pay a portion of the purchase price pursuant to a Share Purchase Agreement, dated October 8, 2012 (the “SPA”), in which Sirona Dental Systems, S.r.l., which at the time of the SPA’s execution was a wholly-owned subsidiary of Sirona Dental Systems, Inc., acquired all of the shares of MHT S.p.A., an Italian corporation, from Mr. Gobbetti, and various other sellers. Sirona Dental Systems S.r.l. merged into Dentsply Italia S.r.l. in 2018 (the surviving entity is now Dentsply Sirona Italia S.r.l.). In connection with the closing of that transaction, SIRONA Dental Systems GmbH paid an amount equal to €7 million into an escrow account (the “Escrow Account”). The proceeds of the Escrow Account were to be released to Mr. Gobbetti and the other sellers upon the satisfaction of certain conditions, including the delivery by July 2013 of a new prototype of an MHT S.p.A. camera which had to meet certain specifications. Mr. Gobbetti claims that he is entitled to receive the €7 million outstanding balance of the purchase price under the SPA, plus €21 million for damages incurred as a consequence of the failure to make the payment. Mr. Gobbetti claims that he has a right to receive the full purchase price under the SPA even if the conditions set out in the SPA to deliver a prototype of the MHT S.p.A. camera by July 2013 were not met. On May 15, 2023, DSI filed its initial statement of defense denying that Mr. Gobbetti and the other sellers were entitled to receive the funds deposited in the Escrow Account and further disputing the allegations. Following the constitution of the arbitral tribunal, hearings were held on September 13, 2023 and January 19, 2024, to illustrate and discuss their respective positions. The Parties were also permitted to further develop their arguments in one additional round of defensive briefs. On January 29, 2024, the Parties filed a statement setting out their final pleadings. The Arbitral Court eventually decided that the procedural issues raised by DSI (jurisdiction, capacity to be sued) will be considered together with the merits and granted the Parties final deadlines to file their respective final briefs (March 29, 2024) and replies (April 15, 2024). The final hearing has been scheduled for May 8, 2024.

Except as noted above, no specific amounts of damages have been alleged in these lawsuits. The Company will continue to incur legal fees in connection with these pending cases, including expenses for the reimbursement of legal fees of present and former officers and directors under indemnification obligations. The expense of continuing to defend such litigation may be significant. The Company intends to defend these lawsuits vigorously, but there can be no assurance that the Company will be successful in any defense. If any of the lawsuits are decided adversely, the Company may be liable for significant damages directly or under our indemnification obligations, which could adversely affect our business, results of operations and cash flows. At this stage, the Company is unable to assess whether any material loss or adverse effect is reasonably possible as a result of these lawsuits or estimate the range of any potential loss.

The Internal Revenue Service (“IRS”) conducted an examination of the U.S. federal income tax returns for tax years 2012 through 2014. In February 2019, the IRS issued to the Company a “30-day letter” and a Revenue Agent’s Report (“RAR”), relating to the Company’s worthless stock deduction in 2013 in the amount of $546 million. The RAR disallows the deduction and, after adjusting the Company’s net operating loss carryforward, asserts that the Company is entitled to a refund of $5 million for 2012, has no tax liability for 2013, and owes a deficiency of $17 million in tax for 2014, excluding interest. In accordance with ASC 740, the Company recorded the tax benefit associated with the worthless stock deduction in the Company’s 2012 financial statements. In March 2019, the Company submitted a formal protest disputing on multiple grounds the proposed taxes. The Company and its advisors discussed its position with the IRS Independent Office of Appeals (the “Appeals Office”) in October 2020, and in November 2020 submitted a supplemental response to questions raised by the Appeals Office. During the first quarter of 2023, after an extended review by the Appeals Office, the Company received a notice from the IRS, allowing the Company’s worthless stock deduction for tax year 2013. As a result, the Company received a refund of $5 million for tax year 2012 with no further adjustments to the 2013 or 2014 tax return.

The IRS is conducting an examination of our U.S. federal income tax returns for the tax years 2015 through 2016. The Company received a Notice of Proposed Adjustment in April 2023 and a Revenue Agent Report in January 2024 from the IRS examination team proposing an adjustment related to an internal reorganization completed in 2016 with respect to the integration of certain operations of Sirona Dental Systems, Inc. following its acquisition in 2016. Although the proposed adjustment does not result in any additional federal income tax liability for the internal reorganization, if sustained, the proposed adjustment would result in the Company owing additional federal income taxes on a distribution of $451 million related to a stock redemption that occurred after the internal reorganization was completed in 2016. The amount of additional federal income taxes due for 2016 is approximately $2 million, excluding interest. The proposed adjustment, if sustained, would also result in a loss of foreign tax credits carried forward to later tax years. We believe that we accurately reported the federal income tax consequences of the internal restructuring and stock redemption in our tax returns and will submit an administrative protest with the IRS Independent Office of Appeals contesting the examination team’s proposed adjustments. We intend to vigorously defend our reported positions and believe that it is more likely than not that our position will be sustained. The Company has not accrued a liability relating to the proposed tax adjustments. However, the outcome of this dispute involves a number of uncertainties, including those relating to the application of the Internal Revenue Code and other federal income tax authorities and judicial precedent. Accordingly, there can be no assurance that the dispute with the IRS will be resolved favorably.

The Company intends to vigorously defend its positions and pursue related appeals, where appropriate, in the above-described pending matters.

In addition to the matters disclosed above, the Company is, from time to time, subject to a variety of litigation and similar proceedings incidental to its business. These legal matters primarily involve claims for damages arising out of the use of the Company’s products and services and claims relating to intellectual property matters including patent infringement, employment matters, tax matters, commercial disputes, competition and sales and trading practices, personal injury, and insurance coverage. The Company may also become subject to lawsuits because of past or future acquisitions or as a result of liabilities retained from, or representations, warranties or indemnities provided in connection with, divested businesses. Some of these lawsuits may include claims for punitive, consequential, and compensatory damages. Except as otherwise noted, the Company generally cannot predict the eventual outcomes, the timing of the ultimate resolutions, or the eventual loss, fines or penalties related to these pending matters. Based upon the Company’s experience, current information, and applicable law, it does not believe that these proceedings and claims will have a material adverse effect on its consolidated results of operations, financial position, or liquidity. However, in the event of unexpected further developments, it is possible that the ultimate resolution of these matters, or other similar matters, if unfavorable, may be materially adverse to the Company’s business, financial condition, results of operations, or liquidity.

While the Company maintains general, product, property, workers’ compensation, automobile, cargo, aviation, crime, fiduciary and directors’ and officers’ liability insurance up to certain limits that cover certain of these claims, this insurance may be insufficient or unavailable to cover such losses. In addition, while the Company believes it is entitled to indemnification from third parties for some of these claims, these rights may also be insufficient or unavailable to cover such losses.

Commitments

Purchase Commitments


(in millions)


2024	$	193
2025	77
2026	59
2027	6
2028	—
Thereafter	—
Total	$	335

Off-Balance Sheet Arrangements

As of December 31, 2023, we had no material off-balance sheet arrangements that have, or are reasonably likely to have, a current or future material effect on our consolidated financial condition, results of operations, liquidity, capital expenditures or capital resources other than certain items disclosed in the sections above.

Indemnification

In the normal course of business to facilitate sales of our products and services, we indemnify certain parties: customers, vendors, lessors, and other parties with respect to certain matters, including, but not limited to, services to be provided by us and intellectual property infringement claims made by third parties. In addition, we have indemnification agreements with our directors and our executive officers that will require us, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. Several of these agreements limit the time within which an indemnification claim can be made and the amount of the claim.

It is not possible to make a reasonable estimate of the maximum potential amount under these indemnification agreements due to the unique facts and circumstances involved in each agreement. Additionally, we have a limited history of prior indemnification claims and the payments made under such agreements have not had a material effect on our results of operations, cash flows or financial position. Except as noted in the “Contingencies” section herein, as of December 31, 2023, we did not have any material indemnification claims that were probable or reasonably possible. However, to the extent that valid indemnification claims arise in the future, future payments by us could be significant and could have a material adverse effect on our results of operations or cash flows in a particular period.

OTHER EXPENSE (INCOME) , NET (Tables)

12 Months Ended

Dec. 31, 2023

Other Income and Expenses [Abstract]

Schedule of Other Expense (Income), Net

Other expense (income), net, were as follows:


	Year Ended December 31,
(in millions)	2023		2022		2021

Foreign exchange transaction (gain) loss	$	(3)	$	6	$	(12)
Other expense (income), net	12		47		14
Total other expense (income), net	$	9	$	53	$	2

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

SCHEDULE II

DENTSPLY SIRONA INC. AND SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTS

FOR THE YEARS ENDED DECEMBER 31, 2023, 2022, and 2021


			Additions
Description	Balance at Beginning of Period		Charged (Credited) To Costs And Expenses		Charged to Other Accounts		Write-offs Net of Recoveries		Translation Adjustment		Balance at End of Period

(in millions)

Allowance for doubtful accounts:

For the Year Ended December 31,
2021	$	18	$	2	$	(3)	$	(2)	$	(2)	$	13
2022	13		7		(2)		(3)		(1)		14
2023	14		6		(1)		(3)		1		17

Inventory valuation reserve:

For the Year Ended December 31,
2021	$	117	$	17	$	—	$	(41)	$	(7)	$	86
2022	86		20		—		(17)		(7)		82
2023	82		39		—		(18)		4		107

Deferred tax asset valuation allowance:

For the Year Ended December 31,
2021	$	287	$	(10)	$	—	$	(3)	$	(7)	$	267
2022 (a)	267		3		382		(1)		(6)		645
2023	645		279		4		(70)		5		863

(a) The increase charged to other accounts represents an increase in deferred tax assets related to the re-establishment of Luxembourg net operating loss carryforwards for which a corresponding increase to the valuation allowance was also recorded, with no net impact to tax expense.

FAIR VALUE MEASUREMENT - FINANCIAL ASSETS AND LIABILITIES THAT ARE RECORDED AT FAIR VALUE AND CLASSIFIED BASED ON THE LOWEST LEVEL OF INPUT (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	$ 16	$ 64
Derivative liability	84	46
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	4	10
Payments	0	(6)
Ending balance	4	4
Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	16	64
Liabilities	88	50
Fair Value, Recurring \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0	0
Liabilities	0	0
Fair Value, Recurring \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	16	64
Liabilities	84	46
Fair Value, Recurring \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0	0
Liabilities	4	4
Cross currency basis swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	8	26
Cross currency basis swaps \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	8	26
Cross currency basis swaps \| Fair Value, Recurring \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Cross currency basis swaps \| Fair Value, Recurring \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	8	26
Cross currency basis swaps \| Fair Value, Recurring \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	28	34
Interest rate swaps \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	28	34
Interest rate swaps \| Fair Value, Recurring \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	0	0
Interest rate swaps \| Fair Value, Recurring \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	28	34
Interest rate swaps \| Fair Value, Recurring \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	0	0
Foreign exchange forward contracts \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	8	38
Derivative liability	56	12
Foreign exchange forward contracts \| Fair Value, Recurring \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Derivative liability	0	0
Foreign exchange forward contracts \| Fair Value, Recurring \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	8	38
Derivative liability	56	12
Foreign exchange forward contracts \| Fair Value, Recurring \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset	0	0
Derivative liability	0	0
Contingent considerations on acquisitions \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent considerations on acquisitions	4	4
Contingent considerations on acquisitions \| Fair Value, Recurring \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent considerations on acquisitions	0	0
Contingent considerations on acquisitions \| Fair Value, Recurring \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent considerations on acquisitions	0	0
Contingent considerations on acquisitions \| Fair Value, Recurring \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent considerations on acquisitions	$ 4	$ 4

EQUITY (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Accelerated Share Repurchases


(in millions, except per share amounts)			Initial Delivery					Final Settlement
Agreement Date	Amount Paid		Shares Received	Price per share		Value of Shares as a % of Contract Value		Settlement Date	Total Shares Received	Average Price per Share
March 3, 2023	$	150	3.1	$	38.74	80	%	April 28, 2023	3.9	$	38.55

Schedule of Total Outstanding Shares

Total outstanding shares of common stock and treasury stock were as follows:


(in millions)	Shares of Common Stock	Shares of Treasury Stock	Outstanding Shares

Balance at December 31, 2020	264.5	(45.8)	218.7

Shares of treasury stock issued	—	2.2	2.2
Repurchase of common stock at an average cost of $57.47	—	(3.5)	(3.5)

Balance at December 31, 2021	264.5	(47.1)	217.4

Shares of treasury stock issued	—	0.9	0.9
Repurchase of common stock at an average cost of $48.22	—	(3.1)	(3.1)

Balance at December 31, 2022	264.5	(49.3)	215.2
Shares of treasury stock issued	—	0.8	0.8
Repurchase of common stock at an average cost of $34.20	—	(8.8)	(8.8)

Balance at December 31, 2023	264.5	(57.3)	207.2

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Net Sales

The Company’s segment information for the years ended December 31 was as follows:


Net Sales	Year Ended December 31,
(in millions)	2023		2022		2021

Connected Technology Solutions	$	1,169	$	1,219	$	1,348
Essential Dental Solutions	1,468		1,427		1,516
Orthodontic and Implant Solutions	1,040		1,006		1,064
Wellspect Healthcare	288		270		303
Total net sales	$	3,965	$	3,922	$	4,231

Schedule of Depreciation and Amortization


Depreciation and Amortization	Year Ended December 31,
(in millions)	2023		2022		2021

Connected Technology Solutions	$	176	$	172	$	185
Essential Dental Solutions	33		31		41
Orthodontic and Implant Solutions	97		90		83
Wellspect Healthcare	18		21		24
All Other (a)	19		14		14
Total	$	343	$	328	$	347

(a) Includes amounts recorded at corporate headquarters.

Schedule of Segment Adjusted Operating Income


Segment Adjusted Operating Income	Year Ended December 31,
(in millions)	2023		2022		2021

Connected Technology Solutions	$	101	$	161	$	267
Essential Dental Solutions	478		467		511
Orthodontic and Implant Solutions	156		193		217
Wellspect Healthcare	87		73		87
Segment adjusted operating income	$	822	$	894	$	1,082

Reconciling items (income) expense:
All other (a)	319		318		229
Goodwill and intangible asset impairments	307		1,287		—
Restructuring and other costs	67		14		17
Interest expense, net	81		65		49
Other expense (income), net	9		53		14
Amortization of intangible assets	211		209		222
Depreciation resulting from the fair value step-up of property, plant, and equipment from business combinations	3		3		6
(Loss) income before income taxes	$	(175)	$	(1,055)	$	545

(a) Includes the results of unassigned corporate headquarters costs.

Schedule of Net Sales and Long Lived Assets by Geographic Location


	Year Ended December 31,
(in millions)	2023		2022		2021

Net sales
United States	$	1,437	$	1,393	$	1,484
Germany	431		447		482

Other Foreign	2,097		2,082		2,265
Total net sales	$	3,965	$	3,922	$	4,231

Property, plant and equipment, net, represents those long-lived assets held by the operating businesses located in the respective geographic areas.


	Year Ended December 31,
(in millions)	2023		2022		2021

Property, plant, and equipment, net
United States	$	194	$	174	$	166
Germany	260		275		309
Sweden	105		98		107
Other Foreign	241		214		191
Total property, plant, and equipment, net	$	800	$	761	$	773

Schedules of Concentration Risk

Customers that accounted for 10% or more of net sales or accounts receivable for the years ended December 31, 2023 and 2022 were as follows:


	Year Ended December 31,
	2023				2022
	% of net sales		% of accounts receivable		% of net sales		% of accounts receivable

Henry Schein, Inc.	14	%	11	%	11	%	15	%
Patterson Companies, Inc.	N/A		10	%	N/A		12	%

FINANCING ARRANGEMENTS - CONTRACTUAL MATURITY DATES OF THE VAIROUS BORROWINGS (Details) $ in Millions	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2024	$ 77
2025	148
2026	218
2027	103
2028	166
2029 and beyond	1,197
Floating rate senior term loan	$ 1,909

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

STOCK COMPENSATION - ASSUMPTIONS USED TO DETERMINE COMPENSATION COST FOR THE COMPANY'S NON-QUALIFIED STOCK OPTIONS ISSUED (Details) - Nonqualified Stock Options - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value per share (in dollars per share)	$ 12.64	$ 14.06	$ 15.90
Expected dividend yield	1.45%	1.09%	0.68%
Risk-free interest rate	4.27%	2.23%	0.79%
Expected volatility	35.80%	32.70%	31.50%
Expected life (years)	4 years 9 months 3 days	5 years 2 months 12 days	5 years 29 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

SEGMENT AND GEOGRAPHIC INFORMATION - DEPRECIATION AND AMORTIZATION (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 343	$ 328	$ 347
Operating Segments \| Connected Technology Solutions
Segment Reporting Information [Line Items]
Depreciation and amortization	176	172	185
Operating Segments \| Essential Dental Solutions
Segment Reporting Information [Line Items]
Depreciation and amortization	33	31	41
Operating Segments \| Orthodontic and Implant Solutions
Segment Reporting Information [Line Items]
Depreciation and amortization	97	90	83
Operating Segments \| Wellspect Healthcare
Segment Reporting Information [Line Items]
Depreciation and amortization	18	21	24
All Other
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 19	$ 14	$ 14

BENEFIT PLANS - WEIGHTED AVERAGE ASSUMPTIONS USED TO DETERMINE BENEFIT OBLIGATIONS (Details)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Interest crediting rate	2.30%	2.50%	1.30%
Discount rate	2.60%	3.20%	1.10%
Rate of compensation increase	2.50%	2.60%	2.60%

FINANCIAL INSTRUMENTS AND DERIVATIVES - BALANCE SHEET OFFSETTING (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Assets
Gross Amounts Recognized	$ 16	$ 64
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts Presented in the Consolidated Balance Sheets	16	64
Gross amounts not offset in the consolidated balance sheets, financial instruments	(9)	(19)
Gross amounts not offset in the consolidated balance sheets, cash collateral received/pledged	0	0
Net Amount	7	45
Liabilities
Gross Amounts Recognized	84	46
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts Presented in the Consolidated Balance Sheets	84	46
Gross amounts not offset in the consolidated balance sheets, financial instruments	(9)	(19)
Gross amounts not offset in the consolidated balance sheets, cash collateral received/pledged	0	0
Net Amount	75	27
Foreign exchange forward contracts
Assets
Gross Amounts Recognized	8	38
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts Presented in the Consolidated Balance Sheets	8	38
Gross amounts not offset in the consolidated balance sheets, financial instruments	(5)	(7)
Gross amounts not offset in the consolidated balance sheets, cash collateral received/pledged	0	0
Net Amount	3	31
Liabilities
Gross Amounts Recognized	56	12
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts Presented in the Consolidated Balance Sheets	56	12
Gross amounts not offset in the consolidated balance sheets, financial instruments	(7)	(10)
Gross amounts not offset in the consolidated balance sheets, cash collateral received/pledged	0	0
Net Amount	49	2
Interest rate swaps
Liabilities
Gross Amounts Recognized	28	34
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts Presented in the Consolidated Balance Sheets	28	34
Gross amounts not offset in the consolidated balance sheets, financial instruments	(2)	(9)
Gross amounts not offset in the consolidated balance sheets, cash collateral received/pledged	0	0
Net Amount	26	25
Cross currency basis swaps
Assets
Gross Amounts Recognized	8	26
Gross Amounts Offset in the Consolidated Balance Sheets	0	0
Net Amounts Presented in the Consolidated Balance Sheets	8	26
Gross amounts not offset in the consolidated balance sheets, financial instruments	(4)	(12)
Gross amounts not offset in the consolidated balance sheets, cash collateral received/pledged	0	0
Net Amount	$ 4	$ 14