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SEGMENT AND GEOGRAPHIC INFORMATION
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHIC INFORMATION SEGMENT AND GEOGRAPHIC INFORMATION
The Company has two operating segments that are organized primarily by product and generally have overlapping geographical presence, customer bases, distribution channels, and regulatory oversight. These operating segments are also the Company’s reportable segments in accordance with how the Company’s chief operating decision-maker 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, 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.

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

Technologies & Equipment

This segment is responsible for the design, manufacture, and sales of the Company’s dental technology and equipment products and healthcare products. These products include dental implants, CAD/CAM systems, orthodontic clear aligners, imaging systems, treatment centers, instruments, as well as medical devices.

Consumables

This segment is responsible for the design, manufacture, and sales of the Company’s consumable products which include various preventive, restorative, endodontic, and dental laboratory products.

The Company’s segment information for the years ended December 31 was as follows:
Net SalesYear Ended December 31,
(in millions)202120202019
Technologies & Equipment$2,524 $1,961 $2,283 
Consumables1,727 1,381 1,746 
Total net sales$4,251 $3,342 $4,029 

Depreciation and AmortizationYear Ended December 31,
(in millions)202120202019
Technologies & Equipment$280 $261 $258 
Consumables52 61 54 
All Other (a)
15 12 11 
Total$347 $334 $323 
(a) Includes amounts recorded at Corporate headquarters.
Segment Adjusted Operating IncomeYear Ended December 31,
(in millions)202120202019
Technologies & Equipment (a)
$556 $387 $467 
Consumables (a)
541 314 440 
Segment adjusted operating income$1,097 $701 $907 
Reconciling items (income) expense:   
All other (a) (b)
230 281 269 
Goodwill impairment— 157 — 
Restructuring and other costs17 77 81 
Interest expense, net55 47 28 
Other expense (income), net8 1 (12)
Amortization of intangible assets222 192 189 
Depreciation resulting from the fair value step-up of property,
plant, and equipment from business combinations
6 6 7 
Income (loss) before income taxes$559 $(60)$345 
(a) $38 million of charges related to discontinuance of product lines, incurred in 2019, which were previously reported in adjusted operating income for the reportable segments, have been reclassified to the “All other” category to conform to current year presentation and our internal reporting to our Chief Operating Decision Maker package ("CODM"). These amounts are not material to the measure of segment results for the years presented.
(b) Includes the results of unassigned Corporate headquarters costs and inter-segment eliminations.

Capital ExpendituresYear Ended December 31,
(in millions)202120202019
Technologies & Equipment$100 $50 $73 
Consumables37 26 34 
All Other (a)
22 11 16 
Total$159 $87 $123 
(a) Includes capital expenditures of Corporate headquarters.

AssetsYear Ended December 31,
(in millions)20212020
Technologies & Equipment$6,894 $7,014 
Consumables2,123 2,172 
All Other (a)
203 156 
Total$9,220 $9,342 
(a) Includes the results of unassigned Corporate headquarters costs and inter-segment eliminations.
Geographic Information

The following tables set forth information about the Company’s significant operations by geographic areas, for the years ended December 31, 2021, 2020, and 2019. 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)202120202019
Net sales
United States$1,494 $1,109 $1,375 
Germany 499 439 478 
Other Foreign2,258 1,794 2,176 
Total net sales$4,251 $3,342 $4,029 
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)202120202019
Property, plant, and equipment, net
United States$166 $145 $168 
Germany 309 337 327 
Sweden107 110 99 
Other Foreign191 199 208 
Total property, plant, and equipment, net$773 $791 $802 
Product and Customer Information
For information on the Company's net sales by product category, including a description of the revenue streams comprising each of the reportable segments, see Note 2, Revenue.

Concentration Risk

For the year ended December 31, 2021, no customer accounted for 10% or more of consolidated net sales or consolidated accounts receivable balance. Customers that accounted for 10% or more of net sales and accounts receivable for the years ended December 31, 2020 and 2019 were as follows:
Year Ended December 31,
20202019
% of net sales% of accounts receivable% of net sales% of accounts receivable
Henry Schein, Inc.14 %N/A13 %12 %
Patterson Companies, Inc.10 %18 %N/A17 %

For the years ended December 31, 2021, 2020, and 2019, third party export sales from the U.S. were less than ten percent of consolidated net sales.