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SEGMENT INFORMATION | 6 Months Ended
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Jun. 30, 2020
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION The Company has numerous operating businesses covering a wide range of dental consumable products, dental technology, and dental equipment products primarily serving the professional dental market, and certain healthcare products. Professional dental products represented approximately 88%, respectively, of net sales for the three and six months ended June 30, 2020 and 91% for the three and six months ended June 30, 2019. The operating businesses are combined into two operating groups, which generally have overlapping geographical presence, customer bases, distribution channels, and regulatory oversight. These operating groups are considered the Company’s reportable segments as the Company’s chief operating decision-maker regularly reviews financial results at the operating group level and uses this information to manage the Company’s operations. The accounting policies of the segments are consistent with those described in the Company’s most recently filed Form 10-K, in the summary of significant accounting policies. The Company evaluates performance of the segments based on the groups’ net sales and segment adjusted operating income. The Company also evaluates segment performance based on each segment’s adjusted operating income before provision for income taxes and interest. Segment adjusted operating income is defined as operating income before income taxes and before certain corporate headquarters unallocated costs, restructuring and other costs, interest expense, interest income, other expense (income), net, amortization of intangible assets, and depreciation resulting from the fair value step-up of property, plant and equipment from acquisitions. The Company’s segment adjusted operating income is considered a Non-GAAP measure. A description of the products and services provided within each of the Company’s two operating segments is provided below. Technologies & Equipment This segment is responsible for the worldwide design, manufacture, sales and distribution of the Company’s Dental Technology and Equipment Products and Healthcare Consumable Products. These products include dental implants, CAD/CAM systems, orthodontic clear aligners, imaging systems, treatment centers, instruments, as well as consumable medical device products. Consumables This segment is responsible for the worldwide design, manufacture, sale and distribution of the Company’s Dental Consumable Products which include preventive, restorative, endodontic, and laboratory dental products. The Company’s segment information for the three and six months ended June 30, 2020 and 2019 was as follows: Net Sales
|  | Three Months Ended |  |  |  | Six Months Ended |  |
(in millions) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Technologies & Equipment |  | $ | 303.9 |  |  | $ | 558.4 |  |  | $ | 824.2 |  |  | $ | 1,079.2 |
Consumables |  | 186.7 |  |  | 451.0 |  |  | 540.7 |  |  | 876.4 |
Total net sales |  | $ | 490.6 |  |  | $ | 1,009.4 |  |  | $ | 1,364.9 |  |  | $ | 1,955.6 |
Segment Adjusted Operating (Loss) Income
|  | Three Months Ended |  |  |  | Six Months Ended |  |
(in millions) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Technologies & Equipment |  | $ | (3.8) |  |  | $ | 96.0 |  |  | $ | 107.3 |  |  | $ | 167.8 |
Consumables |  | (17.6) |  |  | 121.8 |  |  | 44.0 |  |  | 227.5 |
Segment adjusted operating (loss) income |  | (21.4) |  |  | 217.8 |  |  | 151.3 |  |  | 395.3 |
Reconciling items expense (income): |  |  |  |  |  |  |  |
All other (a) |  | 33.5 |  |  | 58.9 |  |  | 83.2 |  |  | 118.6 |
Goodwill impairment |  | — |  |  | — |  |  | 156.6 |  |  | — |
Restructuring and other costs |  | 1.3 |  |  | 42.4 |  |  | 43.8 |  |  | 62.9 |
Interest expense |  | 12.3 |  |  | 8.0 |  |  | 19.0 |  |  | 16.4 |
Interest income |  | (1.0) |  |  | (0.2) |  |  | (1.4) |  |  | (1.3) |
Other expense (income), net |  | 4.3 |  |  | 12.1 |  |  | 2.9 |  |  | (1.7) |
Amortization of intangible assets |  | 46.6 |  |  | 47.3 |  |  | 93.8 |  |  | 95.5 |
Depreciation resulting from the fair value step-up of property, plant, and equipment from business combinations |  | 1.5 |  |  | 1.7 |  |  | 3.0 |  |  | 3.5 |
(Loss) income before income taxes |  | $ | (119.9) |  |  | $ | 47.6 |  |  | $ | (249.6) |  |  | $ | 101.4 |
(a) Includes the results of unassigned Corporate headquarters costs and inter-segment eliminations.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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