XML 82 R10.htm IDEA: XBRL DOCUMENT v3.24.2
REVENUE
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 2024 and 2023 were as follows:
Three Months EndedSix Months Ended
(in millions)2024202320242023
Equipment & Instruments$139 $180 $264 $332 
CAD/CAM114 129 236 242 
Connected Technology Solutions253 309 $500 $574 
Essential Dental Solutions375 377 $739 $763 
Orthodontics95 86 $193 $172 
Implants & Prosthetics181 184 354 357 
Orthodontic and Implant Solutions276 270 $547 $529 
Wellspect Healthcare80 72 $151 $140 
Total net sales$984 $1,028 $1,937 $2,006 

Net sales disaggregated by geographic region for the three and six months ended June 30, 2024 and 2023 were as follows:
Three Months EndedSix Months Ended
(in millions)2024202320242023
United States$360 $362 $715 $713 
Europe387 403 763 799 
Rest of World237 263 459 494 
Total net sales$984 $1,028 $1,937 $2,006 

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 $105 million and $63 million in Accrued liabilities and Other noncurrent liabilities, respectively, in the Consolidated Balance Sheets at June 30, 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. During the three and six months ended June 30, 2024, the Company recognized approximately $41 million and $82 million of net sales, respectively, which was previously deferred as of December 31, 2023. During the three and six months ended June 30, 2023, the Company recognized approximately $13 million and $47 million, respectively, which was previously deferred as of December 31, 2022. The Company expects to recognize most 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 $15 million at June 30, 2024 and $17 million at December 31, 2023. For the three and six months ended June 30, 2024 and 2023, changes to the provision for doubtful accounts, including write-offs of accounts receivable that were previously reserved, were not significant. Changes to this provision are included in Selling, general, and administrative expenses in the Consolidated Statements of Operations.