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Segment Data | 6 Months Ended
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Jun. 28, 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, (f) litigation settlements, and (g) costs associated with shareholder advisory matters and select value creation consulting costs. 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 Six Months Ended June 28, June 29, June 28, June 29, 2025 2024 2025 2024 Gross Sales: Global Distribution and Value -Added Services (1) $ 2,731 $ 2,654 $ 5,407 $ 5,347 Global Specialty Products (2) 386 370 753 730 Global Technology (3) 167 156 329 313 Total Gross Sales 3,284 3,180 6,489 6,390 Less: Eliminations: Global Distribution and Value -Added Services (4) (13) (8) (21) Global Specialty Products (40) (31) (73) (61) Global Technology - - - - Total Eliminations (44) (44) (81) (82) Net Sales Global Distribution and Value -Added Services 2,727 2,641 5,399 5,326 Global Specialty Products 346 339 680 669 Global Technology 167 156 329 313 Total Net Sales 3,240 3,136 6,408 6,308 Segment Cost of Sales (4) Global Distribution and Value -Added Services 2,043 1,953 4,038 3,939 Global Specialty Products 175 165 336 326 Global Technology 53 51 105 102 Total Segment Cost of Sales 2,271 2,169 4,479 4,367 Segment Operating Expenses (5) Global Distribution and Value -Added Services 529 525 1,043 1,061 Global Specialty Products 159 165 309 321 Global Technology 69 71 137 143 Total Segment Operating Expenses 757 761 1,489 1,525 Segment Operating Income Global Distribution and Value -Added Services 159 176 326 347 Global Specialty Products 52 40 108 83 Global Technology 45 34 87 68 Total Segment Operating Income 256 250 521 498 Corporate, net (31) (8) (66) (30) Adjustments (6) (74) (83) (129) (159) Total Operating Income $ 151 $ 159 $ 326 $ 309 Three Months Ended Six Months Ended June 28, June 29, June 28, June 29, 2025 2024 2025 2024 Depreciation and Amortization Global Distribution and Value -Added Services $ 36 $ 34 $ 71 $ 70 Global Specialty Products 29 28 56 53 Global Technology 11 12 22 24 Total Depreciation and Amortization $ 76 $ 74 $ 149 $ 147 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. (4) Cost of goods sold in our Global Distribution and Value-Added Services segment and our Global Specialty Products segment includes product cost and inbound and outbound freight charges. Cost of goods sold in our Global Technology segment consists primarily of software development and third-party provider costs, including technology use and hosting fees. (5) Significant segment operating expenses for our reportable segments and Corporate include primarily compensation costs, and to a lesser extent, rent, depreciation and maintenance costs related to operating our facilities. 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 Six Months Ended June 28, June 29, June 28, June 29, 2025 2024 2025 2024 Adjustments: Restructuring costs $ (23) $ (15) $ (48) $ (25) Acquisition intangible amortization (44) (47) (87) (93) Cyber incident-insurance proceeds, net of third-party advisory expenses - 7 20 2 Change in contingent consideration - (23) 2 (38) Litigation settlements (1) (5) (1) (5) Impairment of intangible assets - - (1) - Costs associated with shareholder advisory matters and select value creation consulting costs (6) - (14) - Total adjustments $ (74) $ (83) $ (129) $ (159)

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- Definition The entire disclosure for reporting segments including data and tables. 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