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CORRECTION OF PREVIOUSLY ISSUED QUARTERLY FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Changes and Error Corrections [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

The following tables present the effect of correcting these accounting errors on the Company’s previously issued financial statements:

CONSOLIDATED STATEMENTS OF OPERATIONS
						Year Ended December 31, 2021																		Year Ended December 31, 2020																		Year Ended December 31, 2019
(in millions, except per share amounts)						As Previously Issued						Adjustment						As Restated						As Previously Issued						Adjustment						As Revised						As Previously Issued						Adjustment						As Revised
Net sales						$	4,251					$	(20)					$	4,231					$	3,342					$	(3)					$	3,339					$	4,029					$	(7)					$	4,022
Cost of products sold						1,890						(6)						1,884						1,685						(2)						1,683						1,864						(6)						1,858
Gross profit						2,361						(14)						2,347						1,657						(1)						1,656						2,165						(1)						2,164
Selling, general, and administrative expenses						1,551						—						1,551						1,312						(10)						1,302						1,580						7						1,587
Research and development expenses						171						—						171						123						—						123						143						—						143
Goodwill impairment						—						—						—						157						—						157						—						—						—
Restructuring and other costs						17						—						17						77						—						77						81						—						81
Operating income (loss)						622						(14)						608						(12)						9						(3)						361						(8)						353
Other income and expenses:
Interest expense, net						55						—						55						47						(1)						46						28						(1)						27
Other expense (income), net						8						—						8						1						—						1						(12)						—						(12)
Income (loss) before income taxes						559						(14)						545						(60)						10						(50)						345						(7)						338
Provision for income taxes						138						(4)						134						23						—						23						82						—						82
Net income (loss)						421						(10)						411						(83)						10						(73)						263						(7)						256
Less: Net income (loss) attributable to noncontrolling interests						—						—						—						—						—						—						—						—						—
Net income (loss) attributable to Dentsply Sirona						$	421					$	(10)					$	411					$	(83)					$	10					$	(73)					$	263					$	(7)					$	256
Net income (loss) per common share attributable to Dentsply Sirona:
Basic						$	1.93					$	(0.05)					$	1.88					$	(0.38)					$	0.05					$	(0.33)					$	1.18					$	(0.03)					$	1.15
Diluted						$	1.91					$	(0.04)					$	1.87					$	(0.38)					$	0.05					$	(0.33)					$	1.17					$	(0.03)					$	1.14

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
			Year Ended December 31, 2021																		Year Ended December 31, 2020																		Year Ended December 31, 2019
(in millions)			As Previously Issued						Adjustment						As Restated						As Previously Issued						Adjustment						As Revised						As Previously Issued						Adjustment						As Revised
Net income (loss)			$	421					(10)						$	411					$	(83)					10						$	(73)					$	263					(7)						$	256
Pension liability adjustments			26						—						26						(13)						—						(13)						(36)						10						(26)
Total other comprehensive (loss) income			(130)						—						(130)						137						2						139						(120)						10						(110)
Total comprehensive income			291						(10)						281						54						12						66						143						3						146
Comprehensive income attributable to Dentsply Sirona			293						(10)						283						53						12						65						142						3						145

CONSOLIDATED BALANCE SHEETS
			December 31, 2021																		December 31, 2020
(in millions)			As Previously Issued						Adjustment						As Restated						As Previously Issued						Adjustment						As Revised
Accounts and notes receivable-trade, net			$	747					$	3					$	750					$	673					$	(6)					$	667
Inventories, net			504						11						515						466						10						476
Prepaid expenses and other current assets			247						1						248						214						3						217
Total Current Assets			1,837						15						1,852						1,791						7						1,798
Operating lease right-of-use assets, net			193						5						198						176						—						176
Other noncurrent assets			122						(1)						121						94						1						95
Total Assets			9,220						19						9,239						9,342						8						9,350
Accounts payable			268						(6)						262						305						(3)						302
Accrued liabilities			679						81						760						653						59						712
Income taxes payable			57						—						57						60						(1)						59
Total Current Liabilities			1,186						75						1,261						1,317						55						1,372
Operating lease liabilities			145						4						149						130						—						130
Deferred income taxes			408						(17)						391						393						(12)						381
Total Liabilities			4,177						65						4,242						4,372						43						4,415
Retained earnings			1,560						(46)						1,514						1,233						(35)						1,198
Total Dentsply Sirona Equity			5,042						(46)						4,996						4,967						(35)						4,932
Total Equity			5,043						(46)						4,997						4,970						(35)						4,935
Total Liabilities and Equity			9,220						19						9,239						9,342						8						9,350

CONSOLIDATED STATEMENT OF CASH FLOWS
			Year Ended December 31, 2021																		Year Ended December 31, 2020																		Year Ended December 31, 2019
(in millions)			As Previously Issued						Adjustment						As Restated						As Previously Issued						Adjustment						As Revised						As Previously Issued						Adjustment						As Revised
Cash flows from operating activities:
Net income (loss)			$	421					$	(10)					$	411					$	(83)					$	10					$	(73)					$	263					$	(7)					$	256
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Deferred income taxes			(20)						(5)						(25)						(64)						2						(62)						(37)						(3)						(40)
Other non-cash (income) expense			34						—						34						2						1						3						(6)						12						6
Changes in operating assets and liabilities, net of acquisitions:
Accounts and notes receivable-trade, net			(109)						(8)						(117)						126						5						131						(91)						1						(90)
Inventories, net			(63)						(1)						(64)						124						(1)						123						14						(3)						11
Prepaid expenses and other current assets, net			(35)						3						(32)						42						(3)						39						13						(1)						12
Accounts payable			(46)						(3)						(49)						(23)						(5)						(28)						26						1						27
Accrued liabilities			78						22						100						(17)						7						(10)						45						14						59
Income taxes			17						—						17						(39)						(2)						(41)						(16)						2						(14)
Other noncurrent liabilities			10						2						12						(15)						—						(15)						(2)						(10)						(12)
Net cash provided by operating activities			657						—						657						635						14						649						633						6						639
Cash flows from financing activities:
Other financing activities, net			(36)						—						(36)						(12)						(14)						(26)						(34)						(6)						(40)
Net cash (used in) provided by financing activities			(379)						—						(379)						490						(14)						476						(466)						(6)						(472)

The following tables present the effect of correcting the Company’s previously issued quarterly financial statements for the accounting errors described in Note 1, Significant Accounting Policies and Restatement:

CONSOLIDATED STATEMENTS OF OPERATIONS
						Three Months Ended March 31, 2021																		Three Months Ended March 31, 2020
(in millions, except per share amounts)						As Previously Issued						Adjustment						As Revised						As Previously Issued						Adjustment						As Revised
Net sales						$	1,027					$	(1)					$	1,026					$	874					$	7					$	881
Cost of products sold						448						(1)						447						406						—						406
Gross profit						579						—						579						468						7						475
Selling, general, and administrative expenses						385						1						386						359						(2)						357
Research and development expenses						37						3						40						34						2						36
Goodwill impairment						—						—						—						157						—						157
Restructuring and other costs						3						—						3						43						(1)						42
Operating income (loss)						154						(4)						150						(125)						8						(117)
Other income and expenses:
Interest expense, net						14						—						14						7						(1)						6
Other expense (income), net						(9)						—						(9)						(2)						1						(1)
Income (loss) before income taxes						149						(4)						145						(130)						8						(122)
Provision for income taxes						32						1						33						10						2						12
Net income (loss)						117						(5)						112						(140)						6						(134)
Less: Net income (loss) attributable to noncontrolling interest						—						—						—						—						—						—
Net income (loss) attributable to Dentsply Sirona						$	117					$	(5)					$	112					$	(140)					$	6					$	(134)
Net income (loss) per common share attributable to Dentsply Sirona:
Basic						$	0.53					$	(0.02)					$	0.51					$	(0.63)					$	0.02					$	(0.61)
Diluted						$	0.53					$	(0.02)					$	0.51					$	(0.63)					$	0.02					$	(0.61)

CONSOLIDATED STATEMENTS OF OPERATIONS
						Three Months Ended June 30, 2021																		Three Months Ended June 30, 2020
(in millions, except per share amounts)						As Previously Issued						Adjustment						As Revised						As Previously Issued						Adjustment						As Revised
Net sales						$	1,067					$	(5)					$	1,062					$	491					$	8					$	499
Cost of products sold						469						(2)						467						315						2						317
Gross profit						598						(3)						595						176						6						182
Selling, general, and administrative expenses						398						(5)						393						261						(2)						259
Research and development expenses						40						3						43						18						2						20
Restructuring and other costs						5						—						5						1						1						2
Operating income (loss)						155						(1)						154						(104)						5						(99)
Other income and expenses:
Interest expense, net						16						(1)						15						11						—						11
Other expense (income), net						5						3						8						5						(1)						4
Income (loss) before income taxes						134						(3)						131						(120)						6						(114)
Provision (benefit) for income taxes						35						—						35						(24)						2						(22)
Net income (loss)						99						(3)						96						(96)						4						(92)
Less: Net income (loss) attributable to noncontrolling interest						—						—						—						(1)						—						(1)
Net income (loss) attributable to Dentsply Sirona						$	99					$	(3)					$	96					$	(95)					$	4					$	(91)
Net income (loss) per common share attributable to Dentsply Sirona:
Basic						$	0.45					$	(0.01)					$	0.44					$	(0.44)					$	0.02					$	(0.42)
Diluted						$	0.45					$	(0.02)					$	0.43					$	(0.44)					$	0.02					$	(0.42)

CONSOLIDATED STATEMENTS OF OPERATIONS
						Three Months Ended September 30, 2021																		Three Months Ended September 30, 2020
(in millions, except per share amounts)						As Previously Issued						Adjustment						As Restated						As Previously Issued						Adjustment						As Revised
Net sales						$	1,069					$	(29)					$	1,040					$	895					$	(12)					$	883
Cost of products sold						478						(7)						471						453						(2)						451
Gross profit						591						(22)						569						442						(10)						432
Selling, general, and administrative expenses						394						1						395						315						(2)						313
Research and development expenses						35						4						39						27						2						29
Restructuring and other costs						3						—						3						18						—						18
Operating income						159						(27)						132						82						(10)						72
Interest expense, net						13						1						14						14						—						14
Other expense (income), net						8						(3)						5						1						—						1
Income before income taxes						138						(25)						113						67						(10)						57
Provision for income taxes						35						(6)						29						13						(4)						9
Net income						103						(19)						84						54						(6)						48
Net income attributable to Dentsply Sirona						$	103					$	(19)					$	84					$	53					$	(6)					$	47
Net income per common share attributable to Dentsply Sirona:
Basic						$	0.47					$	(0.08)					$	0.39					$	0.25					$	(0.03)					$	0.22
Diluted						$	0.47					$	(0.09)					$	0.38					$	0.25					$	(0.03)					$	0.22

CONSOLIDATED STATEMENTS OF OPERATIONS
						Three Months Ended December 31, 2021																		Three Months Ended December 31, 2020
(in millions, except per share amounts)						As Previously Issued						Adjustment						As Restated						As Previously Issued						Adjustment						As Revised
Net sales						$	1,088					$	15					$	1,103					$	1,082					$	(6)					$	1,076
Cost of products sold						495						4						499						511						(2)						509
Gross profit						593						11						604						571						(4)						567
Selling, general, and administrative expenses						374						3						377						377						(4)						373
Research and development expenses						59						(10)						49						44						(6)						38
Restructuring and other costs						6						—						6						15						—						15
Operating income						154						18						172						135						6						141
Other income and expenses:
Interest expense, net						12						—						12						15						—						15
Other expense (income), net						4						—						4						(3)						—						(3)
Income before income taxes						138						18						156						123						6						129
Provision for income taxes						36						1						37						24						—						24
Net income						102						17						119						99						6						105
Less: Net income attributable to noncontrolling interest						—						—						—						—						—						—
Net income attributable to Dentsply Sirona						$	102					$	17					$	119					$	99					$	6					$	105
Net income per common share attributable to Dentsply Sirona:
Basic						$	0.47					$	0.08					$	0.55					$	0.45					$	0.03					$	0.48
Diluted						$	0.47					$	0.07					$	0.54					$	0.45					$	0.03					$	0.48

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
			Three Months Ended March 31, 2021																		Three Months Ended March 31, 2020
(in millions)			As Previously Issued						Adjustment						As Revised						As Previously Issued						Adjustment						As Revised
Net income (loss)			$	117					$	(5)					$	112					$	(140)					$	6					$	(134)
Total comprehensive income			27						(5)						22						(252)						6						(246)
Comprehensive income attributable to Dentsply Sirona			$	27					$	(5)					$	22					$	(252)					$	6					$	(246)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
			Three Months Ended June 30, 2021																		Three Months Ended June 30, 2020
(in millions)			As Previously Issued						Adjustment						As Revised						As Previously Issued						Adjustment						As Revised
Net income (loss)			$	99					$	(3)					$	96					$	(96)					$	4					$	(92)
Total comprehensive income			142						(3)						139						(28)						4						(24)
Comprehensive income attributable to Dentsply Sirona			$	142					$	(3)					$	139					$	(28)					$	4					$	(24)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
						Three Months Ended September 30, 2021																		Three Months Ended September 30, 2020
(in millions)						As Previously Issued						Adjustment						As Restated						As Previously Issued						Adjustment						As Revised
Net income						$	103					$	(19)					$	84					$	54					$	(6)					$	48
Total comprehensive income						47						(19)						28						121						(6)						115
Comprehensive income attributable to Dentsply Sirona						$	47					$	(19)					$	28					$	121					$	(6)					$	115

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
			Three Months Ended December 31, 2021																		Three Months Ended December 31, 2020
(in millions)			As Previously Issued						Adjustment						As Restated						As Previously Issued						Adjustment						As Revised
Net income (loss)			$	102					$	17					$	119					$	99					$	6					$	105
Total comprehensive income			75						17						92						213						8						221
Comprehensive income attributable to Dentsply Sirona			$	75					$	17					$	92					$	213					$	8					$	221

Schedule of Quarterly Financial Information

2021						Net Sales						Gross Profit												Operating Income (Loss)						Net (Loss) Income attributable to Dentsply Sirona						Net (Loss) Income per Common Share - Basic						Net (Loss) Income per Common Share - Diluted						Cash Dividends Declared per Common Share
First Quarter
As previously issued						$	1,027					$	579											$	154					$	117					$	0.53					$	0.53					$	0.1000
Adjustment						(1)						—												(4)						(5)						(0.02)						(0.02)						—
As revised						$	1,026					$	579											$	150					$	112					$	0.51					$	0.51					$	0.1000
Second Quarter
As previously issued						$	1,067					$	598											$	155					$	99					$	0.45					$	0.45					$	0.1100
Adjustment						(5)						(3)												(1)						(3)						(0.01)						(0.02)						—
As revised						$	1,062					$	595											$	154					$	96					$	0.44					$	0.43					$	0.1100
Third Quarter
As previously issued						$	1,069					$	591											$	159					$	103					$	0.47					$	0.47					$	0.1100
Adjustment						(29)						(22)												(27)						(19)						(0.08)						(0.09)						—
As restated						$	1,040					$	569											$	132					$	84					$	0.39					$	0.38					$	0.1100
Fourth Quarter
As previously issued						$	1,088					$	593											$	154					$	102					$	0.47					$	0.47					$	0.1100
Adjustment						15						11												18						17						0.08						0.07						—
As restated						$	1,103					$	604											$	172					$	119					$	0.55					$	0.54					$	0.1100
Rounding, As previously issued						—						—												—						—						0.01						(0.01)						—
Rounding: Adjustment						—						—												—						—						(0.02)						0.02						—
Rounding, As revised						—						—												—						—						(0.01)						0.01						—
Total Year
As previously issued						$	4,251					$	2,361											$	622					$	421					$	1.93					$	1.91					$	0.4300
Adjustment						(20)						(14)												(14)						(10)						(0.05)						(0.04)						—
As revised						$	4,231					$	2,347											$	608					$	411					$	1.88					$	1.87					$	0.4300

2020						Net Sales						Gross Profit												Operating Income (Loss)						Net (Loss) Income attributable to Dentsply Sirona						Net (Loss) Income per Common Share - Basic						Net (Loss) Income per Common Share - Diluted						Cash Dividends Declared per Common Share
First Quarter
As previously issued						$	874					$	468											$	(125)					$	(140)					$	(0.63)					$	(0.63)					$	0.1000
Adjustment						7						7												8						6						0.02						0.02						—
As revised						$	881					$	475											$	(117)					$	(134)					$	(0.61)					$	(0.61)					$	0.1000
Second Quarter
As previously issued						$	491					$	176											$	(104)					$	(95)					$	(0.44)					$	(0.44)					$	0.1000
Adjustment						8						6												5						4						0.02						0.02						—
As revised						$	499					$	182											$	(99)					$	(91)					$	(0.42)					$	(0.42)					$	0.1000
Third Quarter
As previously issued						$	895					$	442											$	82					$	53					$	0.25					$	0.25					$	0.1000
Adjustment						(12)						(10)												(10)						(6)						(0.03)						(0.03)						—
As revised						$	883					$	432											$	72					$	47					$	0.22					$	0.22					$	0.1000
Fourth Quarter
As previously issued						$	1,082					$	571											$	135					$	99					$	0.45					$	0.45					$	0.1000
Adjustment						(6)						(4)												6						6						0.03						0.03						—
As revised						$	1,076					$	567											$	141					$	105					$	0.48					$	0.48					$	0.1000
Rounding, As previously issued						—						—												—						—						(0.01)						(0.01)						—
Rounding, Adjustment						—						—												—						—						0.01						0.01						—
Total Year
As previously issued						$	3,342					$	1,657											$	(12)					$	(83)					$	(0.38)					$	(0.38)					$	0.4000
Adjustment						(3)						(1)												9						10						0.05						0.05						—
As revised						$	3,339					$	1,656											$	(3)					$	(73)					$	(0.33)					$	(0.33)					$	0.4000

X

- References

No definition available.

+ Details

Name:	us-gaap_AccountingChangesAndErrorCorrectionsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
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