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Segment Data | 3 Months Ended
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Mar. 29, 2025
Segment Data [Abstract] |
Segment Data | Note 5 – Segment Data During the fourth quarter of our fiscal year ended December 28, 2024, we revised our reportable segments to align with how the Chairman and Chief Executive Officer manages the business, assesses performance and allocates resources. Our revised reportable segments now consist of: (i) Global Distribution and Value -Added Services; (ii) Global Specialty Products; and (iii) Global Technology. These segments offer different products and services to the same customer base. All prior comparative segment information has been recast to reflect our new segment structure. We aggregate operating segments into these reportable segments based on economic similarities, the nature of their products, customer base, and methods of distribution. Global Distribution and Value-Added Services includes distribution to the global dental and medical markets of national brand and corporate brand merchandise, as well as equipment and related technical services. This segment also includes value-added services such as financial services, continuing education services, consulting and other services. This segment also markets and sells under our own corporate brand, a portfolio of cost-effective, high- quality consumable merchandise. Global Specialty Products includes manufacturing, marketing and sales of dental implant and biomaterial products; and endodontic, orthodontic and orthopedic products and other health care- related products and services. Global Technology includes development and distribution of practice management software, e-services, and other products, which are distributed to health care providers. Our organizational structure also includes Corporate, which consists primarily of income and expenses associated with support functions and projects. Our chief operating decision maker (“CODM”) is our Chairman and Chief Executive Officer. Our CODM uses adjusted operating income as the profitability metric for purposes of making decisions about allocation of resources to each segment and assessing performance of each segment. Adjusted operating income provides a measure of our underlying segment results that is in line with our approach to risk and performance management. We define adjusted operating income as operating income adjusted to exclude (a) direct cybersecurity costs and related insurance recovery proceeds, (b) amortization of acquisition intangibles, (c) organizational restructuring expenses, (d) impairment of intangible assets, (e) changes in fair value of contingent consideration, and (f) costs associated with shareholder advisory matters. These adjustments are either: (i) non-cash or non-recurring in nature; (ii) not allocable or controlled by the segment; or (iii) not tied to the operational performance of the segment. Assets by segment are not a measure used to assess the performance of the Company by CODM and thus are not reported in our disclosures. Segment adjusted operating income is presented in the following table to reconcile to operating income as presented on the condensed consolidated statement of operations. The reconciliation from operating income to income before taxes and equity in earnings of affiliates is presented on our condensed consolidated statements of income. Three Months Ended March 29, March 30, 2025 2024 Gross Sales: Global Distribution and Value -Added Services (1) $ 2,676 $ 2,693 Global Specialty Products (2) 367 360 Global Technology (3) 162 157 Total Gross Sales 3,205 3,210 Less: Eliminations: Global Distribution and Value -Added Services (4) (8) Global Specialty Products (33) (30) Total eliminations (37) (38) Net Sales Global Distribution and Value -Added Services 2,672 2,685 Global Specialty Products 334 330 Global Technology 162 157 Total Net Sales $ 3,168 $ 3,172 Three Months Ended March 29, March 30, 2025 2024 Operating Income Global Distribution and Value -Added Services $ 167 $ 171 Global Specialty Products 56 43 Global Technology 42 34 Total Segment Operating Income 265 248 Corporate (35) (22) Adjustments (4) (55) (76) Total Operating Income $ 175 $ 150 Depreciation and Amortization Global Distribution and Value -Added Services $ 35 $ 36 Global Specialty Products 27 25 Global Technology 11 12 Total Depreciation and Amortization $ 73 $ 73 Global Distribution and Value -Added Services: Includes distribution of infection-control products, handpieces, preventatives, impression materials, composites, anesthetics, teeth, gypsum, acrylics, articulators, abrasives, personal protective equipment (“PPE”) products, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, dental chairs, delivery units and lights, digital dental laboratories, X-ray supplies and equipment, high-tech and digital restoration equipment, equipment repair services, financial services on a non-recourse basis, continuing education services for practitioners, consulting and other services. This segment also markets and sells under our own corporate brand, a portfolio of cost-effective, high-quality consumable merchandise. (2) Global Specialty Products: Includes manufacturing, marketing and sales of dental implant and biomaterial products; and endodontic, orthodontic and orthopedic products and other health care-related products and services. (3) Global Technology: Includes development and distribution of practice management software, e-services, and other products, which are distributed to health care providers. Adjustments represent items excluded from segment operating income to enable comparison of financial results between periods. The following table presents a breakdown of such adjustments: Three Months Ended March 29, March 30, 2025 2024 Adjustments: Restructuring costs $ (25) $ (10) Acquisition intangible amortization (43) (46) Cyber incident-third-party advisory expenses, net of insurance 20 (5) Changes in contingent consideration 2 (15) Impairment of intangible assets (1) - Costs associated with shareholder advisory matters (8) - Total adjustments $ (55) $ (76)

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- 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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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