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REVENUE | 3 Months Ended
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Mar. 31, 2024
Revenue from Contract with Customer [Abstract] |
REVENUE | REVENUE Revenues are derived primarily from the sale of dental equipment and dental and healthcare consumable products. Revenues are measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing services. Net sales disaggregated by product category for the three months ended March 31, 2024 and 2023 were as follows:
|  | Three Months Ended |  |
(in millions) |  | 2024 |  | 2023 |  |  |  |
Equipment & Instruments |  | $ | 125 |  |  | $ | 152 |  |  |  |  |
CAD/CAM |  | 122 |  |  | 113 |  |  |  |  |
Connected Technology Solutions |  | 247 |  |  | 265 |  |  |  |  |
Essential Dental Solutions |  | 364 |  |  | 386 |  |  |  |  |
Orthodontics |  | 98 |  |  | 86 |  |  |  |  |
Implants & Prosthetics |  | 173 |  |  | 173 |  |  |  |  |
Orthodontic and Implant Solutions |  | 271 |  |  | 259 |  |  |  |  |
Wellspect Healthcare |  | 71 |  |  | 68 |  |  |  |  |
Total net sales |  | $ | 953 |  |  | $ | 978 |  |  |  |  |
Net sales disaggregated by geographic region for the three months ended March 31, 2024 and 2023 were as follows:
|  | Three Months Ended |  |
(in millions) |  | 2024 |  | 2023 |  |  |  |
United States |  | $ | 356 |  |  | $ | 351 |  |  |  |  |
Europe |  | 376 |  |  | 396 |  |  |  |  |
Rest of World |  | 221 |  |  | 231 |  |  |  |  |
Total net sales |  | $ | 953 |  |  | $ | 978 |  |  |  |  |
Contract Assets and Liabilities The Company does not typically have contract assets in the normal course of its business. Contract liabilities, which represent billings in excess of revenue recognized, are primarily related to advanced billings for customer orthodontic aligner treatments where the performance obligation has not yet been fulfilled. The Company recorded deferred revenue of $102 million and $59 million in Accrued liabilities and Other noncurrent liabilities, respectively, in the Consolidated Balance Sheets at March 31, 2024. The Company recorded deferred revenue of $91 million and $57 million in Accrued liabilities and Other noncurrent liabilities, respectively, in the Consolidated Balance Sheets at December 31, 2023. The Company recognized approxim ately $41 million o f net sales during the three months ended March 31, 2024 which was previously deferred as of December 31, 2023. The Company expects to recognize a majority of the remaining deferred revenue in net sales within the next twelve months. Allowance for Doubtful Accounts Accounts and notes receivable-trade, net are stated net of allowances for doubtful accounts and trade discounts, which were $17 million at March 31, 2024 and $17 million at December 31, 2023. For the three months ended March 31, 2024 and 2023, changes to the provision for doubtful accounts, including write-offs of accounts receivable that were previously reserved, were insignificant. Changes to this provision are included in Selling, general, and administrative expenses in the Consolidated Statements of Operations.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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