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Related Party Transactions
6 Months Ended
Jun. 25, 2022
Related Party Transactions [Abstract]  
Related Party Transactions
Note 16 – Related Party Transactions
In connection with the formation of Henry Schein One, LLC, our joint venture
 
with Internet Brands, which was
formed on July 1, 2018, we entered into a
ten-year
 
royalty agreement with Internet Brands whereby we will pay
Internet Brands approximately $
31
 
million annually for the use of their intellectual property.
 
During the three and
six months ended June 25, 2022, we recorded $
8
 
million and $
16
 
million, respectively in connection with costs
related to this royalty agreement.
 
During the three and six months ended June 26, 2021, we recorded
 
$
8
 
million
and $
16
 
million, respectively, in connection with costs related to this royalty agreement.
 
As of June 25, 2022 and
December 25, 2021,
 
Henry Schein One, LLC had a net (payable) receivable balance due
 
(to) from Internet Brands
of $
(6)
 
million and $
9
 
million, respectively, comprised of amounts related to results of operations and the royalty
agreement.
During our normal course of business, we have interests in entities that we account for under the equity accounting
method.
 
During the three and six months ended June 25, 2022, we recorded
 
net sales of $
16
 
million and $
32
million, respectively, to such entities.
 
During the three and six months ended June 26, 2021, we recorded net
 
sales
of $
18
 
million and $
33
 
million, respectively, to such entities.
 
During the three and six months ended June 25, 2022,
we purchased $
5
 
million and $
10
 
million, respectively, from such entities.
 
During the three and six months ended
June 26, 2021, we purchased $
5
 
million and $
9
 
million, respectively, from such entities.
 
At June 25, 2022 and
December 25, 2021, in the aggregate we had $
40
 
million and $
45
 
million, due from our equity affiliates, and $
9
million and $
9
 
million due to our equity affiliates, respectively.
Certain of our facilities related to our acquisitions are leased from employees
 
and minority shareholders.
 
These
leases are classified as operating leases and have a remaining lease term
 
ranging from
6 months
 
to
10 years
.
 
As of
June 25, 2022, current and non-current liabilities associated with related
 
party operating leases were $
4
 
million and
$
17
 
million, respectively.
 
Related party leases represented
5.4
% and
6.1
% of the total current and non-current
operating lease liabilities.