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RESTRUCTURING AND OTHER COSTS (Tables) | 6 Months Ended
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Jun. 30, 2025
Restructuring and Related Activities [Abstract] |
Schedule of Restructuring Costs | Restructuring and other costs were recorded in the Consolidated Statements of Operations as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Cost of products sold |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |
Selling, general, and administrative expenses |  | — |  |  | 1 |  |  | 1 |  |  | 4 |
Restructuring and other costs |  | 4 |  |  | 21 |  |  | 13 |  |  | 22 |
Total restructuring and other costs |  | $ | 4 |  |  | $ | 23 |  |  | $ | 14 |  |  | $ | 27 |
Schedule of Restructuring Accruals | Activity in the Company’s restructuring accruals at June 30, 2025 was as follows:
|  |  |  | Severance
(in millions) |  |  |  | 2023 and Prior Plans |  | 2024 Plans |  | Other Actions |  | Total
Balance at December 31, 2024 |  |  |  | $ | 13 |  |  | $ | 19 |  |  | $ | — |  |  | $ | 32 |
Provisions |  |  |  | 1 |  |  | 2 |  |  | 9 |  |  | 12 |
Amounts applied |  |  |  | (10) |  |  | (16) |  |  | (1) |  |  | (27) |
Change in estimates |  |  |  | (2) |  |  | — |  |  | — |  |  | (2) |
Balance at June 30, 2025 |  |  |  | $ | 2 |  |  | $ | 5 |  |  | $ | 8 |  |  | $ | 15 |
|  | Other Restructuring Costs
(in millions) |  | 2023 and Prior Plans |  | 2024 Plans |  | Other Actions |  | Total
Balance at December 31, 2024 |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |
Provisions |  | 1 |  |  | — |  |  | — |  |  | 1 |
Amounts applied |  | (1) |  |  | — |  |  | — |  |  | (1) |
Balance at June 30, 2025 |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |
Schedule of Company’s Segment Information | The Company’s reportable segment information was as follows:
|  | Three Months Ended June 30, |
(in millions) |  | 2025 |  |  |
|  | Connected Technology Solutions |  | Essential Dental Solutions |  | Orthodontic and Implant Solutions |  | Wellspect Healthcare |  | Total |  |  |
Net sales |  | $ | 243 |  |  | $ | 387 |  |  | $ | 226 |  |  | $ | 80 |  |  | $ | 936 |  |  |  |
Adjusted cost of products sold (a) |  | 140 |  |  | 138 |  |  | 98 |  |  | 33 |  |  |  |  |  |
Adjusted selling expenses (b) |  | 54 |  |  | 72 |  |  | 54 |  |  | 13 |  |  |  |  |  |
Adjusted G&A expenses (b) |  | 20 |  |  | 20 |  |  | 17 |  |  | 7 |  |  |  |  |  |
Adjusted R&D expenses (c) |  | 17 |  |  | 6 |  |  | 12 |  |  | 2 |  |  |  |  |  |
Segment adjusted operating income |  | $ | 12 |  |  | $ | 151 |  |  | $ | 45 |  |  | $ | 25 |  |  | $ | 233 |  |  |  |
Reconciling items (income) expense: |  |  |  |  |  |  |  |  |  |  |  |  |
Unallocated corporate costs (d) |  |  |  |  |  |  |  |  |  | $ | 68 |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  | 24 |  |  |  |
Other expense (income), net |  |  |  |  |  |  |  |  |  | 1 |  |  |  |
Goodwill and intangible asset impairments |  |  |  |  |  |  |  |  |  | 235 |  |  |  |
Restructuring and other costs |  |  |  |  |  |  |  |  |  | 4 |  |  |  |
Amortization of intangibles |  |  |  |  |  |  |  |  |  | 54 |  |  |  |
Depreciation resulting from the fair value step-up of property, plant, and equipment from business combinations |  |  |  |  |  |  |  |  |  | — |  |  |  |
Loss before income taxes |  |  |  |  |  |  |  |  |  | $ | (153) |  |  |  |
(a) Adjusted cost of products sold represents expenses adjusted to exclude intangible amortization expense, step-up depreciation expense, and other restructuring costs.
(b) Adjusted selling and adjusted G&A expenses represent expenses adjusted to exclude intangible amortization expense, other acquisition costs, step-up depreciation expense, and other restructuring costs.
(c) Adjusted R&D expenses represent expenses adjusted to exclude other restructuring costs.
(d) Unallocated corporate costs consist of general corporate expenses including corporate headcount costs, depreciation and amortization, certain professional service fees, and other operating costs which are not assigned to a specific segment.
|  | Three Months Ended June 30,
(in millions) |  | 2024
|  | Connected Technology Solutions |  | Essential Dental Solutions |  | Orthodontic and Implant Solutions |  | Wellspect Healthcare |  | Total
Net sales |  | $ | 253 |  |  | $ | 375 |  |  | $ | 276 |  |  | $ | 80 |  |  | $ | 984 |
Adjusted cost of products sold (a) |  | 150 |  |  | 147 |  |  | 106 |  |  | 32 |  |  |
Adjusted selling expenses (b) |  | 61 |  |  | 80 |  |  | 81 |  |  | 14 |  |  |
Adjusted G&A expenses (b) |  | 20 |  |  | 18 |  |  | 33 |  |  | 7 |  |  |
Adjusted R&D expenses (c) |  | 19 |  |  | 5 |  |  | 14 |  |  | 3 |  |  |
Segment adjusted operating income |  | $ | 3 |  |  | $ | 125 |  |  | $ | 42 |  |  | $ | 24 |  |  | $ | 194 |
Reconciling items (income) expense: |  |  |  |  |  |  |  |  |  |
Unallocated corporate costs (d) |  |  |  |  |  |  |  |  |  | $ | 69 |
Interest expense, net |  |  |  |  |  |  |  |  |  | 17 |
Other expense (income), net |  |  |  |  |  |  |  |  |  | (1) |
Goodwill and intangible asset impairments |  |  |  |  |  |  |  |  |  | — |
Restructuring and other costs |  |  |  |  |  |  |  |  |  | 21 |
Amortization of intangibles |  |  |  |  |  |  |  |  |  | 54 |
Income before income taxes |  |  |  |  |  |  |  |  |  | $ | 34 |
(a) Adjusted cost of products sold represents expenses adjusted to exclude intangible amortization expense, step-up depreciation expense, and other restructuring costs.
(b) Adjusted selling and adjusted G&A expenses represent expenses adjusted to exclude intangible amortization expense, other acquisition costs, step-up depreciation expense, and other restructuring costs.
(c) Adjusted R&D expenses represent expenses adjusted to exclude other restructuring costs.
(d) Unallocated corporate costs consist of general corporate expenses including corporate headcount costs, depreciation and amortization, certain professional service fees, and other operating costs which are not assigned to a specific segment.
|  | Six Months Ended June 30, |
(in millions) |  | 2025 |  |  |
|  | Connected Technology Solutions |  | Essential Dental Solutions |  | Orthodontic and Implant Solutions |  | Wellspect Healthcare |  | Total |  |  |
Net sales |  | $ | 478 |  |  | $ | 740 |  |  | $ | 443 |  |  | $ | 154 |  |  | $ | 1,815 |  |  |  |
Adjusted cost of products sold (a) |  | 275 |  |  | 262 |  |  | 191 |  |  | 60 |  |  |  |  |  |
Adjusted selling expenses (b) |  | 112 |  |  | 142 |  |  | 108 |  |  | 26 |  |  |  |  |  |
Adjusted G&A expenses (b) |  | 38 |  |  | 38 |  |  | 39 |  |  | 13 |  |  |  |  |  |
Adjusted R&D expenses (c) |  | 34 |  |  | 11 |  |  | 23 |  |  | 5 |  |  |  |  |  |
Segment adjusted operating income |  | $ | 19 |  |  | $ | 287 |  |  | $ | 82 |  |  | $ | 50 |  |  | $ | 438 |  |  |  |
Reconciling items (income) expense: |  |  |  |  |  |  |  |  |  |  |  |  |
Unallocated corporate costs (d) |  |  |  |  |  |  |  |  |  | $ | 155 |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  | 43 |  |  |  |
Other expense (income), net |  |  |  |  |  |  |  |  |  | 1 |  |  |  |
Goodwill and intangible asset impairments |  |  |  |  |  |  |  |  |  | 235 |  |  |  |
Restructuring and other costs |  |  |  |  |  |  |  |  |  | 13 |  |  |  |
Amortization of intangibles |  |  |  |  |  |  |  |  |  | 99 |  |  |  |
Depreciation resulting from the fair value step-up of property, plant, and equipment from business combinations |  |  |  |  |  |  |  |  |  | 1 |  |  |  |
Loss before income taxes |  |  |  |  |  |  |  |  |  | $ | (109) |  |  |  |
(a) Adjusted cost of products sold represents expenses adjusted to exclude intangible amortization expense, step-up depreciation expense, and other restructuring costs.
(b) Adjusted selling and adjusted G&A expenses represent expenses adjusted to exclude intangible amortization expense, other acquisition costs, step-up depreciation expense, and other restructuring costs.
(c) Adjusted R&D expenses represent expenses adjusted to exclude other restructuring costs.
(d) Unallocated corporate costs consist of general corporate expenses including corporate headcount costs, depreciation and amortization, certain professional service fees, and other operating costs which are not assigned to a specific segment.
|  | Six Months Ended June 30,
(in millions) |  | 2024
|  | Connected Technology Solutions |  | Essential Dental Solutions |  | Orthodontic and Implant Solutions |  | Wellspect Healthcare |  | Total
Net sales |  | $ | 500 |  |  | $ | 739 |  |  | $ | 547 |  |  | $ | 151 |  |  | $ | 1,937 |
Adjusted cost of products sold (a) |  | 296 |  |  | 285 |  |  | 206 |  |  | 59 |  |  |
Adjusted selling expenses (b) |  | 122 |  |  | 163 |  |  | 164 |  |  | 27 |  |  |
Adjusted G&A expenses (b) |  | 39 |  |  | 39 |  |  | 67 |  |  | 13 |  |  |
Adjusted R&D expenses (c) |  | 38 |  |  | 12 |  |  | 26 |  |  | 5 |  |  |
Segment adjusted operating income |  | $ | 5 |  |  | $ | 240 |  |  | $ | 84 |  |  | $ | 47 |  |  | $ | 376 |
Reconciling items (income) expense: |  |  |  |  |  |  |  |  |  |
Unallocated corporate costs (d) |  |  |  |  |  |  |  |  |  | $ | 148 |
Interest expense, net |  |  |  |  |  |  |  |  |  | 35 |
Other expense (income), net |  |  |  |  |  |  |  |  |  | (8) |
Goodwill and intangible asset impairments |  |  |  |  |  |  |  |  |  | 6 |
Restructuring and other costs |  |  |  |  |  |  |  |  |  | 22 |
Amortization of intangibles |  |  |  |  |  |  |  |  |  | 108 |
Income before income taxes |  |  |  |  |  |  |  |  |  | $ | 65 |
(a) Adjusted cost of products sold represents expenses adjusted to exclude intangible amortization expense, step-up depreciation expense, and other restructuring costs.
(b) Adjusted selling and adjusted G&A expenses represent expenses adjusted to exclude intangible amortization expense, other acquisition costs, step-up depreciation expense, and other restructuring costs.
(c) Adjusted R&D expenses represent expenses adjusted to exclude other restructuring costs.
(d) Unallocated corporate costs consist of general corporate expenses including corporate headcount costs, depreciation and amortization, certain professional service fees, and other operating costs which are not assigned to a specific segment.
Depreciation and Amortization
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Connected Technology Solutions |  | 46 |  | 43 |  |  | 89 |  | 86
Essential Dental Solutions |  | 8 |  | 8 |  |  | 17 |  | 17
Orthodontic and Implant Solutions |  | 23 |  | 25 |  |  | 42 |  | 50
Wellspect Healthcare |  | 5 |  | 5 |  |  | 7 |  | 9
All other (a) |  | 6 |  | 5 |  |  | 12 |  | 10
Total |  | 88 |  | 86 |  |  | 167 |  | 172
(a) Includes unallocated corporate costs for depreciation and amortization. The cumulative amounts for the provisions and adjustments and amounts applied for all the plans by segment were as follows:
(in millions) |  | December 31, 2024 |  | Provisions |  | Amounts Applied |  | Change in Estimates |  | June 30, 2025
Connected Technology Solutions |  | $ | 9 |  |  | $ | 3 |  |  | $ | (9) |  |  | $ | (2) |  |  | $ | 1 |
Essential Dental Solutions |  | 11 |  |  | — |  |  | (6) |  |  | — |  |  | 5 |
Orthodontic and Implant Solutions |  | 9 |  |  | 2 |  |  | (4) |  |  | — |  |  | 7 |
Wellspect Healthcare |  | 3 |  |  | 1 |  |  | (2) |  |  | — |  |  | 2 |
All Other |  | 1 |  |  | 7 |  |  | (7) |  |  | — |  |  | 1 |
Total |  | $ | 33 |  |  | $ | 13 |  |  | $ | (28) |  |  | $ | (2) |  |  | $ | 16 |

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- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.P.3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.b.2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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