0000818479-20-000052 | 10-Q | XBRL Viewer

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Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2020	Nov. 03, 2020
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Sep. 30, 2020
Entity File Number	0-16211
Entity Registrant Name	DENTSPLY SIRONA Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	39-1434669
Entity Address, Address Line One	13320 Ballantyne Corporate Place
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28277-3607
City Area Code	844
Local Phone Number	848-0137
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	XRAY
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Small Business Entity	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		218,555,259
Document Quarterly Report	true
Document Transition Report	false
Entity Central Index Key	0000818479
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Total net sales	$ 894,800,000	$ 962,100,000	$ 2,259,700,000	$ 2,917,700,000
Cost of products sold	452,500,000	448,100,000	1,173,500,000	1,363,200,000
Gross profit	442,300,000	514,000,000.0	1,086,200,000	1,554,500,000
Selling, general, and administrative expenses	341,900,000	399,300,000	1,014,500,000	1,262,100,000
Goodwill impairment	0	0	156,600,000	0
Restructuring and other costs	18,700,000	5,200,000	62,500,000	68,100,000
Operating income (loss)	81,700,000	109,500,000	(147,400,000)	224,300,000
Other income and expenses:
Interest expense	14,500,000	6,600,000	33,500,000	23,000,000.0
Interest income	(400,000)	(700,000)	(1,800,000)	(2,000,000.0)
Other expense (income), net	900,000	(2,900,000)	3,800,000	(4,600,000)
Income (loss) before income taxes	66,700,000	106,500,000	(182,900,000)	207,900,000
Provision (benefit) for income taxes	12,500,000	21,500,000	(1,300,000)	47,300,000
Net income (loss)	54,200,000	85,000,000.0	(181,600,000)	160,600,000
Less: Net income (loss) attributable to noncontrolling interest	400,000	0	(100,000)	0
Net income (loss) attributable to Dentsply Sirona	$ 53,800,000	$ 85,000,000.0	$ (181,500,000)	$ 160,600,000
Net income (loss) per common share attributable to Dentsply Sirona:
Basic (in dollars per share)	$ 0.25	$ 0.38	$ (0.83)	$ 0.72
Diluted (in dollars per share)	$ 0.25	$ 0.38	$ (0.83)	$ 0.71
Weighted average common shares outstanding:
Basic (in shares)	218.5	223.1	219.4	223.5
Diluted (in shares)	219.2	224.9	219.4	225.2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 54.2	$ 85.0	$ (181.6)	$ 160.6
Other comprehensive income (loss), net of tax:
Foreign currency translation gain (loss)	84.8	(127.5)	40.0	(144.8)
Net (loss) gain on derivative financial instruments	(19.3)	20.1	(22.2)	12.0
Pension liability gain	1.6	0.9	4.7	2.7
Total other comprehensive income (loss), net of tax	67.1	(106.5)	22.5	(130.1)
Total comprehensive income (loss)	121.3	(21.5)	(159.1)	30.5
Less: Comprehensive income attributable to noncontrolling interests	0.0	0.0	0.4	0.3
Total comprehensive income (loss) attributable to Dentsply Sirona	$ 121.3	$ (21.5)	$ (159.5)	$ 30.2

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 1,272.0	$ 404.9
Accounts and notes receivables-trade, net	628.1	782.0
Inventories, net	489.1	561.7
Prepaid expenses and other current assets	190.4	251.3
Total Current Assets	2,579.6	1,999.9
Property, plant and equipment, net	772.4	802.4
Operating lease right-of-use assets, net	144.1	159.3
Identifiable intangible assets, net	2,058.1	2,176.3
Goodwill	3,282.7	3,396.5
Other noncurrent assets	59.0	68.5
Total Assets	8,895.9	8,602.9
Current Liabilities:
Accounts payable	242.8	307.9
Accrued liabilities	564.1	629.2
Income taxes payable	75.2	56.1
Notes payable and current portion of long-term debt	296.1	2.3
Total Current Liabilities	1,178.2	995.5
Long-term debt	1,930.0	1,433.1
Operating lease liabilities	105.4	119.5
Deferred income taxes	423.1	479.6
Other noncurrent liabilities	496.9	480.3
Total Liabilities	4,133.6	3,508.0
Commitments and contingencies	0.0	0.0
Equity:
Preferred stock, $1.00 par value; 0.25 million shares authorized; no shares issued	0.0	0.0
Common stock, $0.01 par value;	2.6	2.6
Capital in excess of par value	6,592.4	6,586.7
Retained earnings	1,156.2	1,404.2
Accumulated other comprehensive loss	(577.6)	(599.7)
Treasury stock, at cost, 46.0 million and 43.2 million shares at September 30, 2020 and December 31, 2019, respectively	(2,413.1)	(2,301.3)
Total Dentsply Sirona Equity	4,760.5	5,092.5
Noncontrolling interests	1.8	2.4
Total Equity	4,762.3	5,094.9
Total Liabilities and Equity	$ 8,895.9	$ 8,602.9

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Equity:
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized (in shares)	250,000	250,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	400,000,000.0	400,000,000.0
Common stock, shares issued (in shares)	264,500,000	264,500,000
Common stock, shares outstanding (in shares)	218,500,000	221,300,000
Treasury stock, shares (in shares)	46,000,000.0	43,200,000

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Total Dentsply Sirona Equity	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Noncontrolling Interests
Beginning Balance at Dec. 31, 2018	$ 5,133.0	$ 5,121.1	$ 2.6	$ 6,522.3	$ 1,225.9	$ (478.7)	$ (2,151.0)	$ 11.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	39.2	39.2			39.2			0.0
Other comprehensive (loss) income	(58.4)	(58.7)				(58.7)		0.3
Divestiture of noncontrolling interest	(10.4)							(10.4)
Exercise of stock options	19.7	19.7		1.5			18.2
Stock based compensation expense	9.1	9.1		9.1
Funding of employee stock purchase plan	2.0	2.0		0.1			1.9
Restricted stock unit distributions	(4.8)	(4.8)		(12.8)			8.0
Restricted stock unit dividends	0.0			0.2	(0.2)
Cash dividends	(19.9)	(19.9)			(19.9)
Ending Balance at Mar. 31, 2019	$ 5,109.5	5,107.7	2.6	6,520.4	1,245.0	(537.4)	(2,122.9)	1.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends (in dollars per share)	$ 0.0875
Beginning Balance at Dec. 31, 2018	$ 5,133.0	5,121.1	2.6	6,522.3	1,225.9	(478.7)	(2,151.0)	11.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	160.6
Other comprehensive (loss) income	(130.1)					(130.4)
Ending Balance at Sep. 30, 2019	5,059.1	5,057.3	2.6	6,567.2	1,324.3	(609.1)	(2,227.7)	1.8
Beginning Balance at Mar. 31, 2019	5,109.5	5,107.7	2.6	6,520.4	1,245.0	(537.4)	(2,122.9)	1.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	36.4	36.4			36.4			0.0
Other comprehensive (loss) income	34.8	34.8				34.8		0.0
Exercise of stock options	56.5	56.5		6.3			50.2
Stock based compensation expense	25.2	25.2		25.2
Treasury shares purchased	(60.0)	(60.0)					(60.0)
Restricted stock unit distributions	(0.1)	(0.1)		(0.8)			0.7
Restricted stock unit dividends	0.0			0.2	(0.2)
Cash dividends	(19.4)	(19.4)			(19.4)
Ending Balance at Jun. 30, 2019	$ 5,182.9	5,181.1	2.6	6,551.3	1,261.8	(502.6)	(2,132.0)	1.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends (in dollars per share)	$ 0.0875
Net (loss) income	$ 85.0	85.0			85.0			0.0
Other comprehensive (loss) income	(106.5)	(106.5)				(106.5)		0.0
Exercise of stock options	2.4	2.4		0.4			2.0
Stock based compensation expense	15.4	15.4		15.4
Funding of employee stock purchase plan	2.2	2.2		0.2			2.0
Treasury shares purchased	(100.0)	(100.0)					(100.0)
Restricted stock unit distributions	(0.1)	(0.1)		(0.4)			0.3
Restricted stock unit dividends	0.0			0.3	(0.3)
Cash dividends	(22.2)	(22.2)			(22.2)
Ending Balance at Sep. 30, 2019	$ 5,059.1	5,057.3	2.6	6,567.2	1,324.3	(609.1)	(2,227.7)	1.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends (in dollars per share)	$ 0.1000
Beginning Balance at Dec. 31, 2019	$ 5,094.9	5,092.5	2.6	6,586.7	1,404.2	(599.7)	(2,301.3)	2.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(139.9)	(139.9)			(139.9)
Other comprehensive (loss) income	(112.2)	(112.5)				(112.5)		0.3
Exercise of stock options	3.8	3.8		(0.5)			4.3
Stock based compensation expense	9.4	9.4		9.4
Funding of employee stock purchase plan	2.1	2.1		0.8			1.3
Treasury shares purchased	(140.0)	(140.0)		(28.0)			(112.0)
Restricted stock unit distributions	(6.1)	(6.1)		(14.8)			8.7
Restricted stock unit dividends	0.0			0.3	(0.3)
Cash dividends	(21.8)	(21.8)			(21.8)
Ending Balance at Mar. 31, 2020	$ 4,690.2	4,687.5	2.6	6,553.9	1,242.2	(712.2)	(2,399.0)	2.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends (in dollars per share)	$ 0.1000
Beginning Balance at Dec. 31, 2019	$ 5,094.9	5,092.5	2.6	6,586.7	1,404.2	(599.7)	(2,301.3)	2.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(181.6)
Other comprehensive (loss) income	22.5					22.1
Ending Balance at Sep. 30, 2020	4,762.3	4,760.5	2.6	6,592.4	1,156.2	(577.6)	(2,413.1)	1.8
Beginning Balance at Mar. 31, 2020	4,690.2	4,687.5	2.6	6,553.9	1,242.2	(712.2)	(2,399.0)	2.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(95.9)	(95.4)			(95.4)			(0.5)
Other comprehensive (loss) income	67.6	67.5				67.5		0.1
Exercise of stock options	1.6	1.6		0.3			1.3
Stock based compensation expense	10.3	10.3		10.3
Treasury shares purchased	0.0	0.0		28.0			(28.0)
Restricted stock unit distributions	(6.5)	(6.5)		(16.0)			9.5
Restricted stock unit dividends				0.2	(0.2)
Cash dividends	(21.9)	(21.9)			(21.9)
Ending Balance at Jun. 30, 2020	$ 4,645.4	4,643.1	2.6	6,576.7	1,124.7	(644.7)	(2,416.2)	2.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends (in dollars per share)	$ 0.1000
Net (loss) income	$ 54.2	53.8			53.8			0.4
Other comprehensive (loss) income	67.1	67.1				67.1
Acquisition of noncontrolling interest	(0.7)	0.2		0.2				(0.9)
Exercise of stock options	0.1	0.1		(0.5)			0.6
Stock based compensation expense	16.5	16.5		16.5
Funding of employee stock purchase plan	2.6	2.6		0.9			1.7
Restricted stock unit distributions	(0.8)	(0.8)		(1.6)			0.8
Restricted stock unit dividends				0.2	(0.2)
Cash dividends	(22.1)	(22.1)			(22.1)
Ending Balance at Sep. 30, 2020	$ 4,762.3	$ 4,760.5	$ 2.6	$ 6,592.4	$ 1,156.2	$ (577.6)	$ (2,413.1)	$ 1.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends (in dollars per share)	$ 0.1000

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 0.1000	$ 0.1000	$ 0.1000	$ 0.1000	$ 0.0875	$ 0.0875

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net (loss) income	$ (181,600,000)	$ 160,600,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation	103,800,000	101,600,000
Amortization of intangible assets	142,600,000	142,900,000
Amortization of deferred financing costs	3,400,000	2,100,000
Fixed asset impairment	2,400,000	33,400,000
Goodwill impairment	156,600,000	0
Indefinite-lived intangible asset impairment	38,700,000	5,300,000
Definite-lived intangible asset impairment	0	3,800,000
Deferred income taxes	(52,700,000)	(39,900,000)
Stock based compensation expense	36,200,000	49,800,000
Restructuring and other costs - non-cash	5,800,000	15,200,000
Other non-cash income	(4,700,000)	(12,400,000)
Loss on disposal of property, plant and equipment	700,000	2,900,000
Gain on divestiture of noncontrolling interest	0	(8,700,000)
Loss on sale of non-strategic businesses and product lines	0	14,000,000.0
Changes in operating assets and liabilities, net of acquisitions:
Accounts and notes receivable-trade, net	149,100,000	(20,700,000)
Inventories, net	73,800,000	(48,400,000)
Prepaid expenses and other current assets	50,200,000	(3,600,000)
Other noncurrent assets	8,000,000.0	(14,400,000)
Accounts payable	(64,700,000)	(30,500,000)
Accrued liabilities	(72,600,000)	(35,500,000)
Income taxes	(9,900,000)	11,400,000
Other noncurrent liabilities	(13,600,000)	4,600,000
Net cash provided by operating activities	371,500,000	333,500,000
Cash flows from investing activities:
Capital expenditures	(60,000,000.0)	(86,900,000)
Cash paid for acquisitions of businesses and equity investments, net of cash acquired	(2,000,000.0)	(3,300,000)
Cash received on sale of non-strategic businesses or product lines	0	11,600,000
Cash received on derivative contracts	57,800,000	34,500,000
Cash paid on derivative contracts	(900,000)	0
Liquidation of short term investments	0	100,000
Proceeds from sale of property, plant and equipment, net	700,000	4,300,000
Net cash used in investing activities	(4,400,000)	(39,700,000)
Cash flows from financing activities:
Repayments on short-term borrowings	(1,200,000)	(67,400,000)
Cash paid for treasury stock	(140,000,000.0)	(160,000,000.0)
Cash dividends paid	(65,900,000)	(58,700,000)
Cash paid for acquisition of noncontrolling interest of consolidated subsidiary	(2,300,000)	0
Proceeds from long-term borrowings	1,448,500,000	119,600,000
Repayments of long-term borrowings	(701,000,000.0)	(251,200,000)
Deferred financing costs	(6,300,000)	(700,000)
Proceeds from exercised stock options	6,000,000.0	78,800,000
Cash paid for contingent consideration on prior acquisitions	(3,000,000.0)	(30,700,000)
Cash paid on derivative contracts	(30,500,000)	0
Net cash provided by (used in) financing activities	504,300,000	(370,300,000)
Effect of exchange rate changes on cash and cash equivalents	(4,300,000)	(7,000,000.0)
Net increase (decrease) in cash and cash equivalents	867,100,000	(83,500,000)
Cash and cash equivalents at beginning of period	404,900,000	309,600,000
Cash and cash equivalents at end of period	$ 1,272,000,000.0	$ 226,100,000

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2020
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and the rules of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair statement of the results for interim periods have been included. Results for interim periods should not be considered indicative of results for a full year. These financial statements and related notes contain the accounts of DENTSPLY SIRONA Inc. and subsidiaries (“Dentsply Sirona” or the “Company”) on a consolidated basis and should be read in conjunction with the consolidated financial statements and notes included in the Company’s most recent Form 10-K for the year ended December 31, 2019. The accounting policies of the Company, as applied in the interim consolidated financial statements presented herein, are substantially the same as presented in the Company’s Form 10-K for the year ended December 31, 2019, except as may be indicated below. Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates, and such differences may be material to the consolidated financial statements. For the nine months ended September 30, 2020, the Company made certain estimates and assumptions related to the financial statements. Some of these estimates and assumptions were based on the impacts of the COVID-19 pandemic as they were known as of the date of the filing of this Form 10-Q and there may be changes to those estimates in future periods. Actual results may differ from these estimates. As of the date of issuance of these consolidated financial statements, the full extent to which the COVID-19 pandemic will directly or indirectly have a negative material impact on the Company's financial condition, liquidity, or results of operations, is highly uncertain and difficult to predict. More specifically, the demand for the Company's products has been, and continues to be, affected by social distancing guidelines, newly implemented dental practice safety protocols which reduce patient traffic, and patient reluctance to seek dental care. At this time, it is uncertain how long these impacts will continue. The impact of the stay-at-home orders and limits to essential-only dental procedures affected demand for the Company's products in March and April, but the Company began to see improvements in May and June as some of these orders were lifted. This improvement has continued into third quarter. Furthermore, economies and, to a lesser extent, capital markets worldwide have also been negatively impacted by the continuing COVID-19 pandemic, and it is possible that it could prolong or deepen the United States' and/or global economic recession. Such economic disruption has had, and could continue to have, a significant negative effect on the Company's business. Governmental authorities around the world have responded with fiscal policy actions to support economies as a whole. The magnitude and overall effectiveness of these actions remain uncertain. During the first nine months of 2020, the Company's business was impacted by COVID-19. The impact began in the early part of the first quarter as the Company began to experience declines in customer demand in Asia and then further in mid-March where it was most pronounced in Europe and where the Company experienced partial or country-wide business lockdowns in various markets, including China, France, and Italy. The United States was most impacted in April and May. Most regions throughout the world continue to experience localized surges of COVID-19 cases which are being responded to by governmental authorities with partial lockdowns. While the duration and severity of this continuing pandemic is uncertain, the Company currently expects that its results of operations will have a negative material impact for the remainder of 2020 and potentially beyond. As a result of the economic uncertainties caused by the COVID-19 pandemic, the Company implemented several measures to improve liquidity and operating results, including reduction of hours and salaries, furloughs, suspended hiring, travel bans, delaying some of its planned capital expenditures, and deferring other discretionary spending for 2020. Some of these measures are being lifted as demand for the Company's products begins to improve. The Company will continue to reassess the reduction in work hours and furloughs as demand for products increases. The Company continues to monitor the COVID-19 pandemic and may need to reduce capacity in the event of a resurgence of COVID-19 or in the event of actions from governmental authorities to combat a resurgence. The Company believes it will be able to generate sufficient liquidity to satisfy its obligations and remain in compliance with the Company's existing debt covenants for the next twelve months. Specifically, at September 30, 2020, the Company had $1,272.0 million of cash and has access to a $700.0 million revolving credit facility as well as other short-term credit facilities of approximately $400.0 million entered into during the three months ended June 30, 2020. For further details on these credit facilities, see Note 11, Financing Arrangements. At September 30, 2020, the Company is in compliance with all of its debt covenants. The Company expects to remain in compliance with all covenants for the next twelve months, which includes an operating income excluding depreciation and amortization to interest expense of not less than 3.0 times on a trailing twelve months basis. If recovery from the pandemic takes longer than currently estimated by the Company, the Company may need to seek covenant waivers in the future. The Company's failure to obtain debt covenant waivers could trigger a violation of these covenants and lead to default and acceleration of all of its outstanding debt, which could have a material adverse effect on liquidity. Revenue Recognition At September 30, 2020, the Company had $28.4 million of deferred revenue recorded in Accrued liabilities in the Consolidated Balance Sheets. The Company expects to recognize significantly all of the deferred revenue within the next 12 months. Accounts and Notes Receivable The Company records a provision for doubtful accounts, which is included in Selling, general, and administrative expenses in the Consolidated Statements of Operations. Accounts and notes receivables – trade, net are stated net of allowances for doubtful accounts and trade discounts, which were $31.1 million at September 30, 2020 and $29.4 million at December 31, 2019. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13 "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." This newly issued accounting standard changes the recognition and measurement of credit losses, including trade accounts receivable. Under current accounting standards, a loss is recognized when such loss becomes probable of occurring. The new standard broadens the information that an entity must consider when developing expected credit loss estimates. The Company adopted this accounting standard on January 1, 2020. The adoption of this standard did not materially impact the Company's financial position, results of operations, cash flows, disclosures, or internal controls. In August 2018, the FASB issued ASU No. 2018-14 "Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans." This newly issued accounting standard changes disclosure requirements for defined benefit plans, including removal and modification of existing disclosures. The amendments in this standard are required for fiscal years ending after December 15, 2020. The amendments should be applied on a retrospective basis for all periods presented. The Company adopted this accounting standard on January 1, 2020. The adoption of this standard did not materially impact the Company's disclosures. In December 2019, the FASB issued ASU No. 2019-12 "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes." This newly issued accounting standard simplifies key provisions for accounting for income taxes, as part of the FASB's initiative to reduce complexity in accounting standards. The amendments eliminate certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences. The amendments also clarify and simplify other aspects of the accounting for income taxes. The amendments in this update are effective for interim and fiscal periods beginning after December 31, 2020. The Company adopted this accounting standard on January 1, 2020. The adoption of this standard did not materially impact the Company's financial position, results of operations, cash flows, disclosures, or internal controls. Accounting Pronouncements Not Yet Adopted In March 2020, the FASB issued ASU No. 2020-04 "Reference Rate Reform (Topic 828): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." This newly issued accounting standard provides guidance on whether the change in reference rate is a modification versus an extinguishment of a contract. Specifically, there is risk of cessation of the London Interbank Offer Rate ("LIBOR"). The Company has certain variable interest rate debt that use LIBOR as a reference rate. The guidance provided by this accounting standard may be used for contracts entered into on or before December 31, 2022 on a prospective basis. The Company is currently assessing the impact that this standard will have on its financial position, results of operations, cash flows, and disclosures.

STOCK COMPENSATION

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

STOCK COMPENSATION

Total stock based compensation expense for non-qualified stock options, restricted stock units ("RSU"), and the tax related benefit for the three and nine months ended September 30, 2020 and 2019 were as follows:


	Three Months Ended				Nine Months Ended
(in millions)	2020		2019		2020		2019

Stock option expense	$	1.6	$	0.6	$	5.1	$	5.6
RSU expense	14.7		14.6		30.3		43.4
Total stock based compensation expense	$	16.3	$	15.2	$	35.4	$	49.0

Related deferred income tax benefit	$	1.6	$	1.8	$	3.7	$	6.8

For the three and nine months ended September 30, 2020, stock compensation expense was $16.3 million and $35.4 million, respectively, of which $16.1 million and $34.6 million, respectively, was recorded in Selling, general, and administrative expense, and $0.2 million and $0.8 million, respectively, was recorded in Cost of products sold in the Consolidated Statements of Operations.

For the three and nine months ended September 30, 2019, stock compensation expense was $15.2 million and $49.0 million, respectively, of which $14.7 million and $47.5 million, respectively, was recorded in Selling, general, and administrative expense, and $0.5 million and $1.5 million, respectively, was recorded in Cost of products sold in the Consolidated Statements of Operations.

COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

COMPREHENSIVE INCOME (LOSS)

Components of Other comprehensive income (loss), net of tax, for the three and nine months ended September 30, 2020 and 2019 were as follows:


	Three Months Ended				Nine Months Ended
(in millions)	2020		2019		2020		2019

Foreign currency translation gains (losses)	$	107.1	$	(147.2)	$	67.6	$	(164.2)
Foreign currency translation (losses) gains on hedges of net investments	(22.3)		19.7		(28.0)		19.1

These amounts are recorded in Accumulated other comprehensive income (loss) ("AOCI"), net of any related tax adjustments. At September 30, 2020 and December 31, 2019, the cumulative tax adjustments were $189.5 million and $173.0 million, respectively, primarily related to foreign currency translation gains and losses.

The cumulative foreign currency translation adjustments included translation losses of $192.6 million and $260.2 million at September 30, 2020 and December 31, 2019, respectively, and cumulative losses on loans designated as hedges of net investments of $136.1 million and $108.1 million, respectively. These foreign currency translation losses were partially offset by movements on derivative financial instruments.

Changes in AOCI, net of tax, by component for the nine months ended September 30, 2020 and 2019 were as follows:



(in millions)	Foreign Currency Translation Gain (Loss)		Gain (Loss) on Cash Flow Hedges		Gain (Loss) on Net Investment Hedges		Pension Liability Gain (Loss)		Total

Balance, net of tax, at December 31, 2019	$	(368.3)	$	(10.6)	$	(100.7)	$	(120.1)	$	(599.7)
Other comprehensive income (loss) before reclassifications and tax impact	26.3		(18.8)		(7.0)		—		0.5
Tax benefit	13.3		2.4		0.8		—		16.5
Other comprehensive income (loss), net of tax, before reclassifications	39.6		(16.4)		(6.2)		—		17.0
Amounts reclassified from accumulated other comprehensive income, net of tax	—		0.4		—		4.7		5.1
Net increase (decrease) in other comprehensive loss	39.6		(16.0)		(6.2)		4.7		22.1


Balance, net of tax, at September 30, 2020	$	(328.7)	$	(26.6)	$	(106.9)	$	(115.4)	$	(577.6)


(in millions)	Foreign Currency Translation Gain (Loss)		Gain (Loss) on Cash Flow Hedges		Gain (Loss) on Net Investment Hedges		Pension Liability Gain (Loss)		Total

Balance, net of tax, at December 31, 2018	$	(284.7)	$	0.6	$	(111.4)	$	(83.2)	$	(478.7)
Other comprehensive (loss) income before reclassifications and tax impact	(134.0)		(18.6)		31.7		—		(120.9)
Tax (expense) benefit	(11.1)		4.5		(7.0)		—		(13.6)
Other comprehensive (loss) income, net of tax, before reclassifications	(145.1)		(14.1)		24.7		—		(134.5)
Amounts reclassified from accumulated other comprehensive income, net of tax	—		1.4		—		2.7		4.1
Net (decrease) increase in other comprehensive loss	(145.1)		(12.7)		24.7		2.7		(130.4)

Balance, net of tax, at September 30, 2019	$	(429.8)	$	(12.1)	$	(86.7)	$	(80.5)	$	(609.1)

Reclassifications out of AOCI to the Consolidated Statements of Operations for the three and nine months ended September 30, 2020 and 2019 were insignificant.

EARNINGS PER COMMON SHARE

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

EARNINGS PER COMMON SHARE

The computation of basic and diluted earnings per common share for the three and nine months ended September 30, 2020 and 2019 were as follows:


Basic Earnings Per Common Share Computation	Three Months Ended				Nine Months Ended
(in millions, except per share amounts)	2020		2019		2020		2019

Net income (loss) attributable to Dentsply Sirona	$	53.8	$	85.0	$	(181.5)	$	160.6

Weighted average common shares outstanding	218.5		223.1		219.4		223.5

Earnings (loss) per common share - basic	$	0.25	$	0.38	$	(0.83)	$	0.72

Diluted Earnings Per Common Share Computation	Three Months Ended				Nine Months Ended
(in millions, except per share amounts)	2020		2019		2020		2019

Net income (loss) attributable to Dentsply Sirona	$	53.8	$	85.0	$	(181.5)	$	160.6

Weighted average common shares outstanding	218.5		223.1		219.4		223.5
Incremental weighted average shares from assumed exercise of dilutive options from stock-based compensation awards	0.7		1.8		—		1.7
Total weighted average diluted shares outstanding	219.2		224.9		219.4		225.2

Earnings (loss) per common share - diluted	$	0.25	$	0.38	$	(0.83)	$	0.71

The calculation of weighted average diluted common shares outstanding excluded 0.9 million of potentially dilutive common shares because the Company reported a net loss for the nine months ended September 30, 2020. Stock options and RSUs of 3.5 million and 3.2 million equivalent shares of common stock that were outstanding during the three and nine months ended September 30, 2020, respectively, were excluded because their effect would be antidilutive. There were 2.5 million and 3.4 million antidilutive equivalent shares of common stock outstanding during the three and nine months ended September 30, 2019, respectively.

On March 9, 2020, the Company entered into an accelerated share repurchase agreement with a financial institution pursuant to an Accelerated Share Repurchase Transaction (“ASR Agreement") to purchase $140.0 million of the Company's common stock. Pursuant to the terms of the ASR Agreement, the Company delivered $140.0 million cash to a financial institution and received an initial delivery of 2.7 million shares of the Company’s common stock on March 9, 2020 based on a closing market price of $42.12 per share and the applicable contractual discount. The Company received the remaining 1.0 million shares on May 12, 2020. The average price per share for the total shares purchased under the ASR Agreement was $38.88 per share.

SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

SEGMENT INFORMATION

The Company has numerous operating businesses covering a wide range of dental consumable products, dental technology, and dental equipment products primarily serving the professional dental market, and certain healthcare products. Professional dental products represented approximately 91% and 89%, of net sales for the three and nine months ended September 30, 2020, respectively, and 92% for the three and nine months ended September 30, 2019.

The operating businesses are combined into two operating groups, which generally have overlapping geographical presence, customer bases, distribution channels, and regulatory oversight. These operating groups are considered the Company’s reportable segments as the Company’s chief operating decision-maker regularly reviews financial results at the operating group level and uses this information to manage the Company’s operations.

The Company evaluates performance of the segments based on the groups’ net sales and segment adjusted operating income. The Company also evaluates segment performance based on each segment’s adjusted operating income before provision for income taxes and interest. 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. The Company’s segment adjusted operating income is considered a Non-GAAP measure. A description of the products and services provided within each of the Company’s two operating segments is provided below.

Technologies & Equipment

This segment is responsible for the worldwide design, manufacture, sales, and distribution of the Company’s Dental Technology and Equipment Products and Healthcare Consumable Products. These products include dental implants, CAD/CAM systems, orthodontic clear aligners, imaging systems, treatment centers, instruments, as well as consumable medical device products.

Consumables

This segment is responsible for the worldwide design, manufacture, sales, and distribution of the Company’s Dental Consumable Products which include preventive, restorative, endodontic, and laboratory dental products.

The Company’s segment information for the three and nine months ended September 30, 2020 and 2019 was as follows:

Net Sales


	Three Months Ended				Nine Months Ended
(in millions)	2020		2019		2020		2019

Technologies & Equipment	$	503.8	$	534.5	$	1,328.0	$	1,613.7
Consumables	391.0		427.6		931.7		1,304.0
Total net sales	$	894.8	$	962.1	$	2,259.7	$	2,917.7

Segment Adjusted Operating Income


	Three Months Ended				Nine Months Ended
(in millions)	2020		2019		2020		2019

Technologies & Equipment	$	109.6	$	104.7	$	216.9	$	272.5
Consumables	99.1		113.8		143.1		341.3
Segment adjusted operating income	208.7		218.5		360.0		613.8

Reconciling items expense (income):
All other (a)	57.9		54.7		141.1		173.3
Goodwill impairment	—		—		156.6		—
Restructuring and other costs	18.7		5.2		62.5		68.1
Interest expense	14.5		6.6		33.5		23.0
Interest income	(0.4)		(0.7)		(1.8)		(2.0)
Other expense (income), net	0.9		(2.9)		3.8		(4.6)
Amortization of intangible assets	48.8		47.4		142.6		142.9
Depreciation resulting from the fair value step-up of property, plant, and equipment from business combinations	1.6		1.7		4.6		5.2
Income (loss) before income taxes	$	66.7	$	106.5	$	(182.9)	$	207.9

(a) Includes the results of unassigned Corporate headquarters costs and inter-segment eliminations.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

INVENTORIES

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

INVENTORIES

Inventories are stated at the lower of cost and net realizable value. The cost of inventories determined by the last-in, first-out (“LIFO”) method at September 30, 2020 and December 31, 2019 were $5.9 million and $5.0 million, respectively. The cost of remaining inventories were determined by the first-in, first-out (“FIFO”) or average cost methods. If the FIFO method had been used to determine the cost of LIFO inventories, the amounts at which net inventories are stated would be higher than reported at September 30, 2020 and December 31, 2019 by $20.4 million and $14.3 million, respectively.

Inventories, net were as follows:


(in millions)	September 30, 2020		December 31, 2019

Finished goods	$	282.0	$	356.4
Work-in-process	75.0		82.5
Raw materials and supplies	132.1		122.8
Inventories, net	$	489.1	$	561.7

The inventory reserve was $125.6 million and $85.0 million at September 30, 2020 and December 31, 2019, respectively. The increase in the inventory reserve is primarily related to charges made under the current quarter restructuring plans and slow moving inventory as a result of lower customer demand, some of which was due to the COVID-19 pandemic.

RESTRUCTURING AND OTHER COSTS

9 Months Ended

Sep. 30, 2020

Restructuring and Related Activities [Abstract]

RESTRUCTURING AND OTHER COSTS

During the three and nine months ended September 30, 2020, the Company recorded restructuring costs of $52.3 million and $95.5 million, respectively, which consists primarily of inventory write-downs of $24.5 million and $24.6 million, respectively, accelerated depreciation of $8.4 million and $9.1 million, respectively, severance costs of $15.7 million and $20.6 million, respectively, and asset impairments of $2.2 million and $41.0 million, respectively.

During the three and nine months ended September 30, 2019, the Company recorded restructuring costs of $7.3 million and $117.7 million, respectively, which consists primarily of inventory write-downs of $2.5 million and $19.5 million, respectively, severance income of $1.9 million and expense of $29.3 million, respectively, and asset impairments of $3.8 million and $41.8 million, respectively.

The details of total restructuring costs for the three and nine months ended September 30 were as follows:


Affected Line Item in the Consolidated Statements of Operations	Three Months Ended				Nine Months Ended
(in millions)	2020		2019		2020		2019

Cost of products sold	$	32.3	$	3.6	$	32.7	$	24.3
Selling, general, and administrative expenses	1.3		(1.1)		0.6		20.3
Restructuring and other costs	18.7		5.2		62.5		68.1
Other income and expenses	—		(0.4)		(0.3)		5.0
Total restructuring costs	$	52.3	$	7.3	$	95.5	$	117.7

The Company announced on August 6, 2020 that it will exit its traditional orthodontics business as well as both exit and restructure certain portions of its laboratory business. The traditional orthodontics business is part of the Technologies & Equipment segment and the laboratory business is part of the Consumables segment. The Company is exiting several of its facilities and reducing its workforce by approximately 4% to 5%. The Company expects to record restructuring charges in a range of $70 million to $80 million for inventory write-downs, severance costs, fixed asset write-offs, and other facility closure costs. During the three months ended September 30, 2020, the Company recorded expenses of approximately $48 million related to these actions which consists primarily of inventory write-downs of approximately $25 million, accelerated depreciation of approximately $8 million, and severance costs of approximately $13 million. These expenses are included in the above table. The Company expects most of the remaining restructuring charges will be recorded during the fourth quarter of 2020.

The Company’s restructuring accruals at September 30, 2020 were as follows:


	Severance
(in millions)	2018 and Prior Plans		2019 Plans		2020 Plans		Total

Balance at December 31, 2019	$	7.2	$	19.8	$	—	$	27.0
Provisions	1.1		1.5		19.3		21.9
Amounts applied	(3.2)		(7.4)		(1.8)		(12.4)
Change in estimates	(0.5)		(3.6)		—		(4.1)
Balance at September 30, 2020	$	4.6	$	10.3	$	17.5	$	32.4


	Lease/Contract Terminations
(in millions)	2018 and Prior Plans		2020 Plans		Total

Balance at December 31, 2019	$	0.5	$	—	$	0.5
Provisions	0.4		0.3		0.7
Amounts applied	(0.4)		(0.1)		(0.5)

Balance at September 30, 2020	$	0.5	$	0.2	$	0.7


	Other Restructuring Costs
(in millions)	2018 and Prior Plans		2019 Plans		2020 Plans		Total

Balance at December 31, 2019	$	2.2	$	0.3	$	—	$	2.5
Provisions	—		0.5		0.4		0.9
Amounts applied	—		(0.7)		0.1		(0.6)
Change in estimate	—		(0.1)		—		(0.1)
Balance at September 30, 2020	$	2.2	$	—	$	0.5	$	2.7

The cumulative amounts for the provisions and adjustments and amounts applied for all the plans by segment were as follows:


(in millions)	December 31, 2019		Provisions		Amounts Applied		Change in Estimates		September 30, 2020

Technologies & Equipment	$	19.1	$	16.3	$	(8.0)	$	(4.0)	$	23.4
Consumables	11.4		4.5		(3.9)		(0.1)		11.9
All Other	(0.5)		2.7		(1.6)		(0.1)		0.5
Total	$	30.0	$	23.5	$	(13.5)	$	(4.2)	$	35.8

The associated restructuring liabilities are recorded in Accrued liabilities and Other noncurrent liabilities in the Consolidated Balance Sheets.

FINANCIAL INSTRUMENTS AND DERIVATIVES

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

FINANCIAL INSTRUMENTS AND DERIVATIVES

Derivative Instruments and Hedging Activities

The Company’s activities expose it to a variety of market risks, which primarily include the risks related to the effects of changes in foreign currency exchange rates and interest rates. These financial exposures are monitored and managed by the Company as part of its overall risk management program. The objective of this risk management program is to reduce the volatility that these market risks may have on the Company’s operating results and equity. The Company employs derivative financial instruments to hedge certain anticipated transactions, firm commitments, or assets and liabilities denominated in foreign currencies. Additionally, the Company has utilized interest rate swaps to convert variable rate debt to fixed rate debt.

Derivative Instruments Designated as Hedging

Cash Flow Hedges

The following summarizes the notional amounts of cash flow hedges by derivative instrument type at September 30, 2020 and the notional amounts expected to mature during the next 12 months, with a discussion of the various cash flow hedges by derivative instrument type following the table:


(in millions)	Aggregate Notional Amount		Aggregate Notional Amount Maturing within 12 Months

Foreign exchange forward contracts	$	325.6	$	236.9


Total derivative instruments designated as cash flow hedges	$	325.6	$	236.9

Foreign Exchange Risk Management

The Company uses a program to hedge select anticipated foreign currency cash flows to reduce volatility in both cash flows and reported earnings of the consolidated Company. The Company accounts for the designated foreign exchange forward contracts as cash flow hedges. As a result, the Company records the fair value of the contracts primarily through AOCI based on the assessed effectiveness of the foreign exchange forward contracts. The Company measures the effectiveness of cash flow hedges of anticipated transactions on a spot-to-spot basis rather than on a forward-to-forward basis. Accordingly, the spot-to-spot change in the derivative fair value will be deferred in AOCI and released and recorded in the Consolidated Statements of Operations in the same period that the hedged transaction is recorded. The time-value component of the fair value of the derivative is reported on a straight-line basis in Cost of products sold in the Consolidated Statements of Operations in the period which it is applicable. Any cash flows associated with these instruments are included in operating activities in the Consolidated Statements of Cash Flows.

These foreign exchange forward contracts generally have maturities up to 18 months and the counterparties to the transactions are typically large international financial institutions.

Interest Rate Risk Management

The Company enters into interest rate swap contracts infrequently as they are only used to manage interest rate risk on long-term debt instruments and not for speculative purposes. Any cash flows associated with these instruments are included in operating activities in the Consolidated Statements of Cash Flows.

On May 26, 2020, the Company paid $30.5 million to settle the $150.0 million notional Treasury Rate Lock contract, which partially hedged the interest rate risk of the $750.0 million senior unsecured notes. This loss will be amortized over the ten-year life of the notes.

Cash Flow Hedge Activity

Gains and losses recorded in AOCI in the Consolidated Balance Sheets, Cost of products sold and Interest expense in the Company's Consolidated Statements of Operations related to all cash flow hedges for the three months ended September 30, 2020 and 2019 were insignificant.

Gains and losses recorded in AOCI in the Consolidated Balance Sheets, Cost of products sold and Interest expense in the Company's Consolidated Statements of Operations related to all cash flow hedges for the nine months ended September 30, 2020 were as follows:


	Nine Months Ended September 30, 2020
	Gain (Loss) in AOCI		Consolidated Statements of Operations Location	Effective Portion Reclassified from AOCI into Income (Expense)		Ineffective Portion Recognized in Income (Expense)

(in millions)

Effective Portion:
Foreign exchange forward contracts	$	(1.7)	Cost of products sold	$	2.2	$	—
Interest rate swaps	(17.1)		Interest expense	(2.6)		—

Ineffective Portion:
Foreign exchange forward contracts	—		Cost of products sold	—		2.2
Total in cash flow hedging	$	(18.8)		$	(0.4)	$	2.2

Gains and losses recorded in AOCI in the Consolidated Balance Sheets, Cost of products sold and Interest expense in the Company’s Consolidated Statements of Operations related to all cash flow hedges for the nine months ended September 30, 2019 were as follows:


	Nine Months Ended September 30, 2019
	Gain (Loss) in AOCI		Consolidated Statements of Operations Location	Effective Portion Reclassified from AOCI into Income (Expense)		Ineffective Portion Recognized in Income (Expense)

(in millions)

Effective Portion:
Foreign exchange forward contracts	$	(4.0)	Cost of products sold	$	0.4	$	—
Interest rate swaps	(14.6)		Interest expense	(1.8)		—

Ineffective Portion:
Foreign exchange forward contracts	—		Cost of products sold	—		1.5
Total in cash flow hedging	$	(18.6)		$	(1.4)	$	1.5

For the rollforward of derivative instruments designated as cash flow hedges in AOCI see Note 3, Comprehensive Income (Loss).

Hedges of Net Investments in Foreign Operations

The Company has significant investments in foreign subsidiaries. The net assets of these subsidiaries are exposed to volatility in currency exchange rates. The Company employs both derivative and non-derivative financial instruments to hedge a portion of this exposure. The derivative instruments consist of foreign exchange forward contracts and cross currency basis swaps. The non-derivative instruments consist of foreign currency denominated debt held at the parent company level. Translation gains and losses related to the net assets of the foreign subsidiaries are offset by gains and losses in derivative and non-derivative financial instruments; which are designated as hedges of net investments and are included in AOCI. The time-value component of the fair value of the derivative is reported on a straight-line basis in Other expense (income), net in the Consolidated Statements of Operations in the applicable period. Any cash flows associated with these instruments are included in investing activities in the Consolidated Statements of Cash Flows except for derivative instruments that include an other-than-insignificant financing element, for which all cash flows are classified as financing activities in the Consolidated Statements of Cash Flows.

The notional amount of hedges of net investments by derivative instrument type at September 30, 2020 and the notional amounts expected to mature during the next 12 months were as follows:


(in millions)	Aggregate Notional Amount		Aggregate Notional Amount Maturing within 12 Months





Cross currency basis swaps	$	308.6	$	308.6
Total for instruments designated as hedges of net investment	$	308.6	$	308.6

The fair value of the foreign exchange forward contracts and cross currency basis swaps is the estimated amount the Company would receive or pay at the reporting date, taking into account the effective interest rates, cross currency swap basis rates, and foreign exchange rates. The effective portion of the change in the value of these derivatives is recorded in AOCI, net of tax effects.

Gains and losses recorded in AOCI in the Consolidated Balance Sheets, Interest expense and Other expense (income), net in the Company’s Consolidated Statements of Operations related to the hedges of net investments for the three months ended September 30, 2020 and 2019 were as follows:


	Three Months Ended September 30, 2020
	Gain (Loss) in AOCI		Consolidated Statements of Operations Location	Recognized in Income (Expense)

(in millions)

Effective Portion:
Cross currency basis swaps	$	(16.8)	Interest expense	$	2.0



Total for net investment hedging	$	(16.8)		$	2.0

	Three Months Ended September 30, 2019
(in millions)	Gain (Loss) in AOCI		Consolidated Statements of Operations Locations	Recognized in Income (Expense)

Effective Portion:
Cross currency basis swaps	$	12.4	Interest expense	$	2.2

Foreign exchange forward contracts	25.5		Other expense (income), net	6.1

Total for net investment hedging	$	37.9		$	8.3

Gains and losses recorded in AOCI in the Consolidated Balance Sheets, Interest expense and Other expense (income), net in the Company's Consolidated Statements of Operations related to the hedges of net investments for the nine months ended September 30, 2020 and 2019 were as follows:


	Nine Months Ended September 30, 2020
	Gain (Loss) in AOCI		Consolidated Statements of Operations Location	Recognized in Income (Expense)

(in millions)

Effective Portion:
Cross currency basis swaps	$	(13.4)	Interest expense	$	6.4

Foreign exchange forward contracts	6.4		Other expense (income), net	6.2

Total for net investment hedging	$	(7.0)		$	12.6

	Nine Months Ended September 30, 2019
(in millions)	Gain (Loss) in AOCI		Consolidated Statements of Operations Location	Recognized in Income (Expense)

Effective Portion:
Cross currency basis swaps	$	13.1	Interest expense	$	6.3

Foreign exchange forward contracts	31.7		Other expense (income), net	15.7

Total for net investment hedging	$	44.8		$	22.0

On April 7, 2020, the Company terminated its entire foreign exchange forward contracts net investment hedge portfolio early which resulted in a $48.1 million cash receipt. The Company elected to enter into this transaction to convert the favorable gain position into additional liquidity.

Fair Value Hedges

Foreign Exchange Risk Management

The Company has an intercompany loan denominated in Swedish kronor that is exposed to volatility in currency exchange rates. The Company employs derivative financial instruments to hedge this exposure. The Company accounts for these designated foreign exchange forward contracts as fair value hedges. The Company measures the effectiveness of fair value hedges of anticipated transactions on a spot-to-spot basis rather than on a forward-to-forward basis. Accordingly, the spot-to-spot change in the derivative fair value will be recorded in the Consolidated Statements of Operations. Any cash flows associated with these instruments are included in investing activities in the Consolidated Statements of Cash Flows.

The notional amounts of fair value hedges by derivative instrument type at September 30, 2020 and the notional amounts expected to mature during the next 12 months were as follows:


(in millions)	Aggregate Notional Amount		Aggregate Notional Amount Maturing within 12 Months

Foreign exchange forward contracts	$	98.3	$	70.2
Total derivative instruments as fair value hedges	$	98.3	$	70.2

Gains and losses recorded in AOCI in the Consolidated Balance Sheets and Other expense (income), net in the Company's Consolidated Statements of Operations related to the fair value hedges for the three and nine months ended September 30, 2020 and 2019 were insignificant.

Derivative Instruments Not Designated as Hedges

The Company enters into derivative instruments with the intent to partially mitigate the foreign exchange revaluation risk associated with recorded assets and liabilities that are denominated in a non-functional currency. The Company primarily uses foreign exchange forward contracts to hedge these risks. The gains and losses on these derivative transactions offset the gains and losses generated by the revaluation of the underlying non-functional currency balances and are recorded in Other expense (income), net in the Consolidated Statements of Operations. Any cash flows associated with the foreign exchange forward contracts and interest rate swaps not designated as hedges are included in cash from operating activities in the Consolidated Statements of Cash Flows.

The aggregate notional amounts of the Company’s economic hedges not designated as hedges by derivative instrument types at September 30, 2020 and the notional amounts expected to mature during the next 12 months were as follows:


(in millions)	Aggregate Notional Amount		Aggregate Notional Amount Maturing within 12 Months

Foreign exchange forward contracts	$	226.2	$	226.2



Total for instruments not designated as hedges	$	226.2	$	226.2

Gains and losses recorded in the Company’s Consolidated Statements of Operations related to the economic hedges not designated as hedges for the three and nine months ended September 30, 2020 and 2019 were insignificant.

Consolidated Balance Sheets Location of Derivative Fair Values

The fair value of the Company's derivatives in the Consolidated Balance Sheets at September 30, 2020 was insignificant. The fair value and the location of the Company's derivatives in the Consolidated Balance Sheets at December 31, 2019 were as follows:















	December 31, 2019
(in millions)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Accrued Liabilities		Other Noncurrent Liabilities

Designated as Hedges:
Foreign exchange forward contracts	$	26.9	$	11.3	$	1.3	$	1.8
Interest rate swaps	—		—		—		10.8
Cross currency basis swaps	—		6.9		—		—
Total	$	26.9	$	18.2	$	1.3	$	12.6

Not Designated as Hedges:
Foreign exchange forward contracts	$	2.0	$	—	$	1.5	$	—
Total	$	2.0	$	—	$	1.5	$	—

Balance Sheet Offsetting

Substantially all of the Company’s derivative contracts are subject to netting arrangements; whereby the right to offset occurs in the event of default or termination in accordance with the terms of the arrangements with the counterparty. While these contracts contain the enforceable right to offset through netting arrangements with the same counterparty, the Company elects to present them on a gross basis in the Consolidated Balance Sheets.

Offsetting of financial assets and liabilities under netting arrangements at September 30, 2020 were as follows:


							Gross Amounts Not Offset in the Consolidated Balance Sheets
(in millions)	Gross Amounts Recognized		Gross Amount Offset in the Consolidated Balance Sheets		Net Amounts Presented in the Consolidated Balance Sheets		Financial Instruments		Cash Collateral Received/Pledged		Net Amount

Assets
Foreign exchange forward contracts	$	4.3	$	—	$	4.3	$	(2.5)	$	—	$	1.8




Total assets	$	4.3	$	—	$	4.3	$	(2.5)	$	—	$	1.8

Liabilities
Foreign exchange forward contracts	$	4.4	$	—	$	4.4	$	—	$	—	$	4.4


Cross currency basis swaps	6.5		—		6.5		(2.5)		—		4.0

Total liabilities	$	10.9	$	—	$	10.9	$	(2.5)	$	—	$	8.4

Offsetting of financial assets and liabilities under netting arrangements at December 31, 2019 were as follows:



							Gross Amounts Not Offset in the Consolidated Balance Sheets
(in millions)	Gross Amounts Recognized		Gross Amount Offset in the Consolidated Balance Sheets		Net Amounts Presented in the Consolidated Balance Sheets		Financial Instruments		Cash Collateral Received/Pledged		Net Amount

Assets
Foreign exchange forward contracts	$	38.8	$	—	$	38.8	$	(7.8)	$	—	$	31.0


Cross currency basis swaps	6.9		—		6.9		(0.9)		—		6.0
Total assets	$	45.7	$	—	$	45.7	$	(8.7)	$	—	$	37.0

Liabilities
Foreign exchange forward contracts	$	3.2	$	—	$	3.2	$	(3.0)	$	—	$	0.2

Interest rate swaps	10.8		—		10.8		(5.7)		—		5.1


Total liabilities	$	14.0	$	—	$	14.0	$	(8.7)	$	—	$	5.3

FAIR VALUE MEASUREMENT

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENT

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The Company estimates the fair value of total long term debt, including current portion, using Level 1 inputs. At September 30, 2020, the Company estimated the fair value and carrying value of this debt were $2,298.5 million and $2,226.1 million, respectively. At December 31, 2019, the Company estimated the fair value and carrying value of this debt were $1,440.8 million and $1,433.3 million, respectively.

The Company’s financial assets and liabilities set forth by level within the fair value hierarchy that were accounted for at fair value on a recurring basis were as follows:



	September 30, 2020
(in millions)	Total		Level 1		Level 2		Level 3

Assets




Foreign exchange forward contracts	$	4.3	$	—	$	4.3	$	—

Total assets	$	4.3	$	—	$	4.3	$	—

Liabilities


Cross currency basis swaps	$	6.5	$	—	$	6.5	$	—
Foreign exchange forward contracts	4.3		—		4.3		—

Contingent considerations on acquisitions	5.7		—		—		5.7
Total liabilities	$	16.5	$	—	$	10.8	$	5.7



	December 31, 2019
(in millions)	Total		Level 1		Level 2		Level 3

Assets



Cross currency basis swaps	$	6.9	$	—	$	6.9	$	—
Foreign exchange forward contracts	40.2		—		40.2		—

Total assets	$	47.1	$	—	$	47.1	$	—

Liabilities
Interest rate swaps	$	10.8	$	—	$	10.8	$	—


Foreign exchange forward contracts	4.6		—		4.6		—

Contingent considerations on acquisitions	8.7		—		—		8.7

Total liabilities	$	24.1	$	—	$	15.4	$	8.7

There have been no transfers between levels during the nine months ended September 30, 2020.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Uncertainties in Income Taxes The Company recognizes the impact of a tax position in the interim consolidated financial statements if that position is more likely than not of being sustained on audit based on the technical merits of the position. It is reasonably possible that certain amounts of unrecognized tax benefits will significantly increase or decrease within 12 months of the reporting date of the Company’s quarterly consolidated financial statements. Final settlement and resolution of outstanding tax matters in various jurisdictions during the next 12 months are not expected to be significant. Other Tax Matters During the three months ended September 30, 2020, the Company recorded $1.8 million of tax expense for discrete tax matters. During the three months ended September 30, 2019, the Company recorded $5.0 million of tax benefit

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

FINANCING ARRANGEMENTS	9 Months Ended
FINANCING ARRANGEMENTS	Sep. 30, 2020
Debt Disclosure [Abstract]
FINANCING ARRANGEMENTS	FINANCING ARRANGEMENTS At September 30, 2020, the Company had $1,161.1 million of borrowing available under lines of credit, including lines available under its short-term arrangements and revolving credit facility. Through the date of the filing of this Form 10-Q, the Company has no outstanding borrowings under any of these credit agreements. In response to the COVID-19 pandemic, the Company took the following actions during the nine months ended September 30, 2020 to strengthen its liquidity and financial flexibility: •On April 9, 2020, the Company entered into a $310.0 million 364-day revolving credit facility with a maturity date of April 8, 2021. The 364-day revolving credit facility mirrors the original five-year facility in all major respects, is unsecured, and contains certain affirmative and negative covenants relating to the operations and financial condition of the Company. •On April 17, 2020, the Company provided a notice to the administrative agent to draw down the full available amount under the 2018 revolving credit facility, which is equal to $700.0 million. The Company had previously not drawn down any sums under this facility. The borrowings incurred interest at the rate of adjusted LIBOR plus 1.25%. The Company subsequently repaid the $700.0 million revolver borrowing on May 26, 2020. •On May 26, 2020, the Company issued $750.0 million of senior unsecured notes with a final maturity date of June 1, 2030 at a semi-annual coupon rate of 3.25%. The net proceeds were $748.4 million, net of discount of $1.6 million. Issuance fees totaled $6.4 million. The Company paid $30.5 million to settle the $150.0 million notional T-Lock contract which partially hedged the interest rate risk of the note issuance. This cost will be amortized over the ten-year life of the notes. The proceeds were used to repay the $700.0 million revolver borrowing and the remaining proceeds will be used for working capital and other general corporate purposes. •Various other credit facilities: ◦On May 5, 2020, the Company entered into a 40.0 million euro 364-day revolving credit facility with a maturity date of April 30, 2021. ◦On May 12, 2020 the Company entered into a 30.0 million euro 364-day revolving credit facility with a maturity date of May 6, 2021. ◦On June 11, 2020, the Company entered into a 3.3 billion Japanese yen 364-day revolving credit facility with a maturity date of June 11, 2021. These agreements are unsecured and contain certain affirmative and negative covenants relating to the operations and financial condition of the Company. The Company has a $500.0 million commercial paper program. The $700.0 million multi-currency revolving credit facility serves as a back-stop credit facility for the Company's commercial paper program. At September 30, 2020 and December 31, 2019, there were no outstanding borrowings under the commercial paper program. The Company’s revolving credit facilities and senior unsecured notes contain certain affirmative and negative debt covenants relating to the Company's operations and financial condition. At September 30, 2020, the Company was in compliance with all affirmative and negative debt covenants.

GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

2020 Annual Goodwill Impairment Testing

The Company performed the required annual impairment tests of goodwill at April 30, 2020 on its five reporting units. To determine the fair value of these reporting units, the Company uses a discounted cash flow model with market-based support as its valuation technique to measure the fair value for its reporting units. The discounted cash flow model uses five-to-ten-year forecasted cash flows plus a terminal value based on a multiple of earnings or by capitalizing the last period’s cash flows using a perpetual growth rate. The Company's significant assumptions in the discounted cash flow models include, but are not limited to: the weighted average cost of capital, revenue growth rates, including perpetual revenue growth rates, and operating margin percentages of the reporting unit's business. The Company considered the current market conditions when determining its assumptions. The total forecasted cash flows were discounted based on a range between 9.0% to 11.5%, which included assumptions regarding the Company’s weighted average cost of capital ("WACC"). Lastly, the Company reconciled the aggregate fair values of its reporting units to its market capitalization, which included a reasonable control premium based on market conditions. These future expectations include, but are not limited to, the current and ongoing impact of the COVID-19 pandemic and new product development changes for these reporting units. The Company also considers the current and projected market and economic conditions amid the ongoing pandemic for the dental industry both in the U.S. and globally, when determining its assumptions. The use of estimates and the development of assumptions results in uncertainties around forecasted cash flows. As a result of the annual tests of goodwill, no impairment was identified.

For the Company's goodwill that was not impaired at March 31, 2020 (see March 31, 2020 Impairment Testing below), the Company applied a hypothetical sensitivity analysis to its reporting units. If the WACC rate of these reporting units had been hypothetically increased by 100 basis points at April 30, 2020, one reporting unit within the Company's Technologies & Equipment segment would have a fair value that would approximate book value. If the fair value of each of these reporting units had been hypothetically reduced by 10% at April 30, 2020, one reporting unit within the Company's Technologies & Equipment segment would have a fair value that approximates net book value. Goodwill for this reporting unit totals $1.2 billion at September 30, 2020. For the Equipment & Instruments reporting unit that recorded goodwill impairment at March 31, 2020, the implied fair value continues to approximate net book value at April 30, 2020. Goodwill for this reporting unit totals $291.5 million at September 30, 2020.

A change in any of these estimates and assumptions used in the annual test, as well as unfavorable changes in the ongoing COVID-19 pandemic, a degradation in the overall markets served by these reporting units, among other factors, could have a negative material impact to the fair value of the reporting units and could result in a future impairment charge. There can be no assurance that the Company’s future goodwill impairment testing will not result in a charge to earnings. This impairment charge could have a negative material impact on the Company’s results of operations.

2020 Annual Indefinite-Lived Intangibles Impairment Testing

The Company also assessed the annual impairment of indefinite-lived intangible assets at April 30, 2020, which largely consists of acquired tradenames and trademarks, in conjunction with the annual impairment tests of goodwill. As a result of the annual impairment test of indefinite-lived intangible assets, no impairment was identified.

For the Company's indefinite-lived intangible assets that were not impaired at March 31, 2020 (see March 31, 2020 Impairment Testing below), the Company applied a hypothetical sensitivity analysis. If the fair value of each of these indefinite-lived intangibles assets had been hypothetically reduced by 10% or the discount rate had been hypothetically increased by 100 basis points at April 30, 2020, the fair value of these assets would still exceed their book value. For the indefinite-lived intangible assets that were impaired at March 31, 2020, the implied fair values continue to approximate net book values at April 30, 2020.

Should the Company’s analysis in the future indicate additional unfavorable impacts related to the ongoing COVID-19 pandemic, an increase in discount rates, or a degradation in the use of the tradenames and trademarks, any of which could have a negative material impact to the implied fair values and could result in a future impairment to the carrying value of the indefinite-lived intangible assets. There can be no assurance that the Company’s future indefinite-lived intangible asset impairment testing will not result in a charge to earnings. This impairment charge could have a negative material impact on the Company’s results of operations.

March 31, 2020 Impairment Testing

In preparing the financial statements for the three months ended March 31, 2020, the Company identified an impairment triggering event related to four of its reporting units. The Company had experienced a meaningful decrease in customer demand for its products as a result of stay-at-home orders, travel restrictions, and social distancing guidelines set forth by governmental authorities throughout the world in response to the COVID-19 pandemic. These actions meaningfully impacted end-user demand for routine dental procedures in most of the Company's markets. The Company updated its future forecasted revenues, operating margins, and weighted average cost of capital for all four of the reporting units which were impacted by the continuing pandemic. Based on the Company's best estimates and assumptions at March 31, 2020, the Company believed forecasted future revenue growth related to the Equipment & Instruments reporting unit will experience an extended recovery period in returning to the pre-COVID-19 levels. The Company believed that dental practitioners will focus their initial post-COVID-19 equipment spending on products that deliver short-term revenue gains for their practices before replacing the Imaging, Treatment Center, and Instruments products that comprise the Equipment & Instruments reporting unit. After this extended recovery period, the Company expects the growth rates of the Equipment & Instruments reporting unit to return to pre-COVID-19 levels.

To determine the fair value of these four reporting units, the Company used a discounted cash flow model with market-based support as its valuation technique to measure the fair value for its reporting units. The discounted cash flow model used five-to-ten-year forecasted cash flows plus a terminal value based on a multiple of earnings or by capitalizing the last period’s cash flows using a perpetual growth rate. The Company's significant assumptions in the discounted cash flow models included, but are not limited to: the weighted average cost of capital, revenue growth rates, including perpetual revenue growth rates, and operating margin percentages of the reporting unit's business. The Company considered the current market conditions when determining its assumptions. The total forecasted cash flows were discounted based on a range between 9.5% to 11.5%, which included assumptions regarding the Company’s weighted average cost of capital. Lastly, the Company reconciled the aggregate fair values of its reporting units to its market capitalization, which included a reasonable control premium based on market conditions. These future expectations included, but are not limited to, the current and ongoing impact of the COVID-19 pandemic and new product development changes for these reporting units. The Company also considered the current and projected market and economic conditions amid the ongoing pandemic for the dental industry both in the U.S. and globally, when determining its assumptions. The use of estimates and the development of assumptions results in uncertainties around forecasted cash flows. A change in any of these estimates and assumptions, as well as unfavorable changes in the ongoing pandemic, could produce a different fair value, which could have a negative impact and result in a future impairment charge and could have a negative material impact on the Company’s results of operations.

As a result of updating the estimates and assumptions in the ongoing COVID-19 pandemic and with the preparation of the financial statements for the three months ended March 31, 2020, the Company determined that the goodwill associated with the Equipment & Instruments reporting unit was impaired. As a result, the Company recorded a goodwill impairment charge of $156.6 million. This reporting unit is within the Technologies & Equipment segment. At March 31, 2020, the remaining goodwill related to the Equipment & Instruments reporting unit was $290.5 million. Based on the quantitative assessments performed for the three other reporting units, the Company believed that its adjusted long-term forecasted cash flows did not indicate that the fair value of these reporting units may be below their carrying value.

In preparing the financial statements for the three months ended March 31, 2020 in conjunction with the goodwill impairment, the Company tested the indefinite-lived intangible assets related to the businesses within the four reporting units for impairment. The Company performed impairment tests using an income approach, more specifically a relief from royalty method. In the development of the forecasted cash flows, the Company applied significant judgment to determine key assumptions, including royalty rates and discount rates. Royalty rates used are consistent with those assumed for the original purchase accounting valuation. If the carrying value exceeds the fair value, an impairment loss in the amount equal to the excess is recognized. As a result, the Company identified that certain tradenames and trademarks related to businesses in the Equipment & Instruments reporting unit, within the Technologies & Equipment segment, were impaired. The Company recorded an impairment charge of $38.7 million for the three months ended March 31, 2020, which was recorded in Restructuring and other costs in the Consolidated Statements of Operations. The impairment charge was driven by a decline in forecasted sales as a result of the COVID-19 pandemic as discussed above, as well as an unfavorable change in the discount rate. The Company utilized discount rates ranging from 10.0% to 17.5%. The assumptions and estimates used in determining the fair value of the indefinite-lived intangible assets contain uncertainties and any changes to these assumptions and estimates, including unfavorable changes related to the COVID-19 pandemic, could have a negative impact and result in a future impairment charge and could have a negative material impact on the Company's results of operations. At March 31, 2020, the remaining indefinite-lived tradenames and trademarks related to the Equipment & Instruments reporting unit was $75.0 million. Based on the quantitative assessments performed for the indefinite-lived intangible assets related to the businesses in the three other reporting units, the Company believed that its adjusted long-term forecasted cash flows did not indicate that the fair value of the indefinite-lived intangible assets may be below their carrying value.

A reconciliation of changes in the Company’s goodwill by reportable segment were as follows:


(in millions)	Technologies & Equipment		Consumables		Total

Balance at December 31, 2019	$	2,515.7	$	880.8	$	3,396.5




Impairment	(156.6)		—		(156.6)
Effects of exchange rate changes	44.3		(1.5)		42.8
Balance at September 30, 2020	$	2,403.4	$	879.3	$	3,282.7

The gross carrying amount of goodwill and the cumulative goodwill impairment were as follows:


	September 30, 2020						December 31, 2019
(in millions)	Gross Carrying Amount		Cumulative Impairment		Net Carrying Amount		Gross Carrying Amount		Cumulative Impairment		Net Carrying Amount

Technologies & Equipment	$	5,296.5	$	(2,893.1)	$	2,403.4	$	5,252.3	$	(2,736.6)	$	2,515.7
Consumables	879.3		—		879.3		880.8		—		880.8
Total effect of cumulative impairment	$	6,175.8	$	(2,893.1)	$	3,282.7	$	6,133.1	$	(2,736.6)	$	3,396.5

Identifiable definite-lived and indefinite-lived intangible assets were as follows:


	September 30, 2020						December 31, 2019
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Patents	$	1,420.3	$	(623.5)	$	796.8	$	1,371.9	$	(517.9)	$	854.0
Tradenames and trademarks	81.3		(68.2)		13.1		79.0		(63.4)		15.6
Licensing agreements	36.4		(29.4)		7.0		36.0		(27.9)		8.1
Customer relationships	1,091.5		(461.5)		630.0		1,070.5		(399.2)		671.3
Total definite-lived	$	2,629.5	$	(1,182.6)	$	1,446.9	$	2,557.4	$	(1,008.4)	$	1,549.0

Indefinite-lived tradenames and trademarks	$	611.2	$	—	$	611.2	$	627.3	$	—	$	627.3

Total identifiable intangible assets	$	3,240.7	$	(1,182.6)	$	2,058.1	$	3,184.7	$	(1,008.4)	$	2,176.3

During the nine months ended September 30, 2019, the Company impaired $5.3 million of product tradenames and trademarks within the Technologies & Equipment segment. The impairment was the result of a change in forecasted sales related to divestitures of non-strategic product lines.

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation As previously disclosed, in 2017, the Division of Enforcement of the SEC asked the Company to provide documents and information relating to the Company’s accounting and disclosures. The Company has been fully cooperating with the SEC in connection with its investigation. The Company now is discussing a possible resolution of the investigation. Any agreement reached with the staff would be subject to Commission approval. There is no assurance that a settlement will be reached, or whether it will have a material impact on the Company’s consolidated financial position, results of operations or cash flows. On January 11, 2018, Tom Redlich, a former employee, filed a lawsuit against the Company, demanding supplemental compensation pursuant to an agreement allegedly entered into with Sirona Dental GmbH which was intended to entice Mr. Redlich to continue to work for the Company for no less than eight years following the date of this agreement. The Company filed its response on April 4, 2018, denying the authenticity and enforceability of, and all liability under, the alleged agreement. Mr. Jost Fischer, upon invitation of the Company, joined the litigation against Mr. Redlich as a third party. In his submission to the Court, Mr. Fischer disputed the central allegations raised by Mr. Redlich in his lawsuit. The Court held several hearings in the matter, and then closed the hearings in June 2019 pending the Court’s decision on the capacity of Mr. Fischer to enter into a binding agreement of the type alleged by Mr. Redlich in the manner alleged. On November 5, 2019, the Company received the Court’s judgment rejecting Mr. Redlich’s lawsuit and dismissing his claims. Mr. Redlich appealed in December 2019 and the Company filed its response in January 2020 seeking to uphold the Court’s ruling. On February 27, 2020, the Company received the Appellate Court’s decision rejecting Mr. Redlich’s appeal and upholding the decision of the lower court dismissing his claims. The Court of Appeals has denied Mr. Redlich the right to file a further appeal in this matter, however, on March 23, 2020, Mr. Redlich filed an extraordinary appeal with the Austrian Supreme Court which will assess the appeal. If the Austrian Supreme Court accepts Mr. Redlich’s extraordinary appeal, the Company will then file its response. On January 25, 2018, Futuredontics, Inc., a former wholly-owned subsidiary of the Company, received service of a purported class action lawsuit brought by Henry Olivares and other similarly situated individuals in the Superior Court of the State of California for the County of Los Angeles. In January 2019, an amended complaint was filed adding another named plaintiff, Rachael Clarke, and various claims. The plaintiff class alleges several violations of the California wage and hours laws, including, but not limited to, failure to provide rest and meal breaks and the failure to pay overtime. The parties have engaged in written and other discovery. On February 5, 2019, Plaintiff Calethia Holt (represented by the same counsel as Mr. Olivares and Ms. Clarke) filed a separate representative action in Los Angeles Superior Court alleging a single violation of the Private Attorneys’ General Act that is based on the same underlying claims as the Olivares/Clarke lawsuit. On April 5, 2019, Plaintiff Kendra Cato filed a similar action in Los Angeles Superior Court alleging a single violation of the Private Attorneys’ General Act that is based on the same underlying claims as the Olivares/Clarke lawsuit. The Company has resolved the Cato lawsuit and continues to vigorously defend against the Olivares and Holt matters. In Olivares, the Plaintiffs filed a motion for class certification on September 14, 2020. The response is due on December 31, 2020. On June 7, 2018, and August 9, 2018, two putative class action suits were filed, and later consolidated, in the Supreme Court of the State of New York, County of New York claiming that the Company and certain individual defendants, violated U.S. securities laws (the "State Court Class Action") by making material misrepresentations and omitting required information in the December 4, 2015 registration statement filed with the SEC in connection with the Merger. The amended complaint alleges that the defendants failed to disclose, among other things, that a distributor had purchased excessive inventory of legacy Sirona products and that three distributors of the Company's products had been engaging in anticompetitive conduct. The plaintiffs seek to recover damages on behalf of a class of former Sirona shareholders who exchanged their shares for shares of the Company's stock in the Merger. The Company has filed motions to dismiss the amended complaint, to stay discovery pending resolution of the motion to dismiss, and to stay all proceedings pending resolution of the Federal Class Action described below. On August 2, 2019, the Court denied the Company's motions to stay discovery and to stay all proceedings. On August 21, 2019, the Company filed a notice of appeal of that decision. Briefing has not yet commenced on that appeal. On September 26, 2019, the Court granted the Company's motion to dismiss all claims. The associated judgment was entered on September 30, 2019. On October 25, 2019, the plaintiffs filed a notice of appeal of the motion to dismiss the decision and the judgment. On November 4, 2019, the Company filed a notice of cross-appeal of select rulings in the Court's motion to dismiss decision. On October 9, 2019, the plaintiffs moved by order to show cause to vacate or modify the judgment and grant plaintiffs leave to amend their complaint. On February 4, 2020, the Court denied the plaintiffs' motion. On March 5, 2020, the plaintiffs also filed a notice of appeal from the denial of their motion to vacate or modify the judgment and for leave to amend their complaint. The Plaintiffs have filed their opening appellate brief and the Company has filed its response. On December 19, 2018, a related putative class action was filed in the U.S. District Court for the Eastern District of New York against the Company and certain individual defendants (the "Federal Class Action"). The plaintiff makes similar allegations and asserts the same claims as those asserted in the State Court Class Action. In addition, the plaintiff alleges that the defendants violated U.S. securities laws by making false and misleading statements in quarterly and annual reports and other public statements between February 20, 2014, and August 7, 2018. The plaintiff asserts claims on behalf of a putative class consisting of (a) all purchasers of the Company's stock during the period February 20, 2014 through August 7, 2018 and (b) former shareholders of Sirona who exchanged their shares of Sirona stock for shares of the Company's stock in the Merger. The Company's motion to dismiss the amended complaint was served on August 15, 2019. Briefing was completed on October 21, 2019 and the Company is awaiting the decision of the Court. On April 29, 2019, two purported stockholders of the Company filed a derivative action on behalf of the Company in the U.S. District Court for the District of Delaware against the Company's directors (the "Stockholder's Derivative Action"). Based on allegations similar to those asserted in the class actions described above, the plaintiffs allege that the directors caused the Company to misrepresent its business prospects and thereby subjected the Company to multiple securities class actions and other litigation. On September 20, 2019, the plaintiffs in the Stockholder's Derivative Action filed an amended derivative complaint on behalf of the Company in the U.S. District Court for the District of Delaware against the Company's directors. The plaintiffs assert claims for breach of fiduciary duty, unjust enrichment, waste of corporate assets, and violations of the U.S. securities laws. The plaintiffs seek relief that includes, among other things, monetary damages and various corporate governance reforms. The Company filed a motion to dismiss, and on July 31, 2020 the Magistrate Judge issued a report and recommendation to the District Court Judge recommending dismissal of the case with prejudice. On September 25, 2020, the District Court Judge issued an order adopting the Magistrate Judge’s report dismissing the case, but without prejudice, and provided the plaintiffs with three weeks to file a motion to amend their complaint. On October 16, 2020, the plaintiffs filed a notice advising the Court that they will not be amending their complaint. On October 23, 2020, the Court entered an order dismissing the case with prejudice as to the named plaintiffs. The Company intends to defend itself vigorously in these actions. As a result of an audit by the IRS for fiscal years 2012 through 2013, on February 11, 2019, the IRS issued to the Company a “30-day letter” and a Revenue Agent’s Report (“RAR”), relating to the Company’s worthless stock deduction in 2013 in the amount of $546.0 million. The RAR disallows the deduction and, after adjusting the Company’s net operating loss carryforward, asserts that the Company is entitled to a refund of $4.7 million for 2012, has no tax liability for 2013, and owes a deficiency of $17.1 million in tax for 2014, excluding interest. In accordance with ASC 740, the Company recorded the tax benefit associated with the worthless stock deduction in the Company’s 2012 financial statements. The Company has submitted a formal protest disputing on multiple grounds the proposed taxes. The Company believes the IRS' position is without merit and believes that it is more-likely-than-not, the Company’s position will be sustained upon further review. The Company has not accrued a liability relating to the proposed tax adjustments. However, the outcome of this dispute involves a number of uncertainties, including those inherent in the valuation of various assets at the time of the worthless stock deduction, and those relating to the application of the Internal Revenue Code and other federal income tax authorities and judicial precedent. Accordingly, there can be no assurance that the dispute with the IRS will be resolved favorably. If determined adversely, the dispute would result in a current period charge to earnings and could have a material adverse effect in the consolidated results of operations, financial position, and liquidity of the Company. The Swedish Tax Agency has disallowed certain of the Company’s interest expense deductions for the tax years from 2013 to 2018. If such interest expense deductions were disallowed, the Company would be subject to an additional $56 million in tax expense. The Company has appealed the disallowance to the Swedish Administrative Court. With respect to such deductions taken in the tax years from 2013 to 2014, the Court ruled against the Company on July 5, 2017. On August 7, 2017, the Company appealed the unfavorable decision of the Swedish Administrative Court. On November 5, 2018, the Company delivered its final argument to the Administrative Court of Appeals at a hearing. The European Union Commission has taken the view that Sweden’s interest deduction limitation rules are incompatible with European Union law and supporting legal opinions, and therefore the Company has not paid the tax or made provision in its financial statements for such potential expense. The Company intends to vigorously defend its position and pursue related appeals. In addition to the matters disclosed above, the Company is, from time to time, subject to a variety of litigation and similar proceedings incidental to its business. These additional legal matters involve a variety of matters, including, among others, claims for damages arising out of the use of the Company’s products and services and claims relating to intellectual property matters including patent infringement, employment matters, tax matters, commercial disputes, competition and sales and trading practices, personal injury, and insurance coverage. The Company may also become subject to lawsuits as a result of past or future acquisitions or as a result of liabilities retained from, or representations, warranties or indemnities provided in connection with, divested businesses. Some of these lawsuits may include claims for punitive and consequential, as well as compensatory damages. Based upon the Company’s experience, current information and applicable law, it does not believe that these additional legal matters will have a material adverse effect on its consolidated results of operations, financial position, or liquidity. However, in the event of unexpected further developments, it is possible that the ultimate resolution of these matters, or other similar matters, if unfavorable, may be materially adverse to the Company’s business, financial condition, results of operations, or liquidity. While the Company maintains general, product, property, workers’ compensation, automobile, cargo, aviation, crime, fiduciary and directors’ and officers’ liability insurance up to certain limits that cover certain of these claims, this insurance may be insufficient or unavailable to cover such losses. In addition, while the Company believes it is entitled to indemnification from third parties for some of these claims, these rights may also be insufficient or unavailable to cover such losses.

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	On October 22, 2020, the Company paid $45 million for a minority ownership position in a privately-held dental services company.

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and the rules of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair statement of the results for interim periods have been included. Results for interim periods should not be considered indicative of results for a full year. These financial statements and related notes contain the accounts of DENTSPLY SIRONA Inc. and subsidiaries (“Dentsply Sirona” or the “Company”) on a consolidated basis and should be read in conjunction with the consolidated financial statements and notes included in the Company’s most recent Form 10-K for the year ended December 31, 2019. The accounting policies of the Company, as applied in the interim consolidated financial statements presented herein, are substantially the same as presented in the Company’s Form 10-K for the year ended December 31, 2019, except as may be indicated below.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates, and such differences may be material to the consolidated financial statements.
Revenue Recognition	Revenue Recognition At September 30, 2020, the Company had $28.4 million of deferred revenue recorded in Accrued liabilities in the Consolidated Balance Sheets. The Company expects to recognize significantly all of the deferred revenue within the next 12 months.
Accounts and Notes Receivable	Accounts and Notes Receivable The Company records a provision for doubtful accounts, which is included in Selling, general, and administrative expenses in the Consolidated Statements of Operations. Accounts and notes receivables – trade, net are stated net of allowances for doubtful accounts and trade discounts
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13 "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." This newly issued accounting standard changes the recognition and measurement of credit losses, including trade accounts receivable. Under current accounting standards, a loss is recognized when such loss becomes probable of occurring. The new standard broadens the information that an entity must consider when developing expected credit loss estimates. The Company adopted this accounting standard on January 1, 2020. The adoption of this standard did not materially impact the Company's financial position, results of operations, cash flows, disclosures, or internal controls. In August 2018, the FASB issued ASU No. 2018-14 "Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans." This newly issued accounting standard changes disclosure requirements for defined benefit plans, including removal and modification of existing disclosures. The amendments in this standard are required for fiscal years ending after December 15, 2020. The amendments should be applied on a retrospective basis for all periods presented. The Company adopted this accounting standard on January 1, 2020. The adoption of this standard did not materially impact the Company's disclosures. In December 2019, the FASB issued ASU No. 2019-12 "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes." This newly issued accounting standard simplifies key provisions for accounting for income taxes, as part of the FASB's initiative to reduce complexity in accounting standards. The amendments eliminate certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences. The amendments also clarify and simplify other aspects of the accounting for income taxes. The amendments in this update are effective for interim and fiscal periods beginning after December 31, 2020. The Company adopted this accounting standard on January 1, 2020. The adoption of this standard did not materially impact the Company's financial position, results of operations, cash flows, disclosures, or internal controls. Accounting Pronouncements Not Yet Adopted In March 2020, the FASB issued ASU No. 2020-04 "Reference Rate Reform (Topic 828): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." This newly issued accounting standard provides guidance on whether the change in reference rate is a modification versus an extinguishment of a contract. Specifically, there is risk of cessation of the London Interbank Offer Rate ("LIBOR"). The Company has certain variable interest rate debt that use LIBOR as a reference rate. The guidance provided by this accounting standard may be used for contracts entered into on or before December 31, 2022 on a prospective basis. The Company is currently assessing the impact that this standard will have on its financial position, results of operations, cash flows, and disclosures.
Foreign Exchange Risk Management	Foreign Exchange Risk Management The Company uses a program to hedge select anticipated foreign currency cash flows to reduce volatility in both cash flows and reported earnings of the consolidated Company. The Company accounts for the designated foreign exchange forward contracts as cash flow hedges. As a result, the Company records the fair value of the contracts primarily through AOCI based on the assessed effectiveness of the foreign exchange forward contracts. The Company measures the effectiveness of cash flow hedges of anticipated transactions on a spot-to-spot basis rather than on a forward-to-forward basis. Accordingly, the spot-to-spot change in the derivative fair value will be deferred in AOCI and released and recorded in the Consolidated Statements of Operations in the same period that the hedged transaction is recorded. The time-value component of the fair value of the derivative is reported on a straight-line basis in Cost of products sold in the Consolidated Statements of Operations in the period which it is applicable. Any cash flows associated with these instruments are included in operating activities in the Consolidated Statements of Cash Flows. These foreign exchange forward contracts generally have maturities up to 18 months and the counterparties to the transactions are typically large international financial institutions.

STOCK COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Stock Based Compensation


	Three Months Ended				Nine Months Ended
(in millions)	2020		2019		2020		2019

Stock option expense	$	1.6	$	0.6	$	5.1	$	5.6
RSU expense	14.7		14.6		30.3		43.4
Total stock based compensation expense	$	16.3	$	15.2	$	35.4	$	49.0

Related deferred income tax benefit	$	1.6	$	1.8	$	3.7	$	6.8

COMPREHENSIVE INCOME (LOSS) (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Schedule of Components of Comprehensive Income

Components of Other comprehensive income (loss), net of tax, for the three and nine months ended September 30, 2020 and 2019 were as follows:


	Three Months Ended				Nine Months Ended
(in millions)	2020		2019		2020		2019

Foreign currency translation gains (losses)	$	107.1	$	(147.2)	$	67.6	$	(164.2)
Foreign currency translation (losses) gains on hedges of net investments	(22.3)		19.7		(28.0)		19.1

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in AOCI, net of tax, by component for the nine months ended September 30, 2020 and 2019 were as follows:



(in millions)	Foreign Currency Translation Gain (Loss)		Gain (Loss) on Cash Flow Hedges		Gain (Loss) on Net Investment Hedges		Pension Liability Gain (Loss)		Total

Balance, net of tax, at December 31, 2019	$	(368.3)	$	(10.6)	$	(100.7)	$	(120.1)	$	(599.7)
Other comprehensive income (loss) before reclassifications and tax impact	26.3		(18.8)		(7.0)		—		0.5
Tax benefit	13.3		2.4		0.8		—		16.5
Other comprehensive income (loss), net of tax, before reclassifications	39.6		(16.4)		(6.2)		—		17.0
Amounts reclassified from accumulated other comprehensive income, net of tax	—		0.4		—		4.7		5.1
Net increase (decrease) in other comprehensive loss	39.6		(16.0)		(6.2)		4.7		22.1


Balance, net of tax, at September 30, 2020	$	(328.7)	$	(26.6)	$	(106.9)	$	(115.4)	$	(577.6)


(in millions)	Foreign Currency Translation Gain (Loss)		Gain (Loss) on Cash Flow Hedges		Gain (Loss) on Net Investment Hedges		Pension Liability Gain (Loss)		Total

Balance, net of tax, at December 31, 2018	$	(284.7)	$	0.6	$	(111.4)	$	(83.2)	$	(478.7)
Other comprehensive (loss) income before reclassifications and tax impact	(134.0)		(18.6)		31.7		—		(120.9)
Tax (expense) benefit	(11.1)		4.5		(7.0)		—		(13.6)
Other comprehensive (loss) income, net of tax, before reclassifications	(145.1)		(14.1)		24.7		—		(134.5)
Amounts reclassified from accumulated other comprehensive income, net of tax	—		1.4		—		2.7		4.1
Net (decrease) increase in other comprehensive loss	(145.1)		(12.7)		24.7		2.7		(130.4)

Balance, net of tax, at September 30, 2019	$	(429.8)	$	(12.1)	$	(86.7)	$	(80.5)	$	(609.1)

EARNINGS PER COMMON SHARE (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The computation of basic and diluted earnings per common share for the three and nine months ended September 30, 2020 and 2019 were as follows:


Basic Earnings Per Common Share Computation	Three Months Ended				Nine Months Ended
(in millions, except per share amounts)	2020		2019		2020		2019

Net income (loss) attributable to Dentsply Sirona	$	53.8	$	85.0	$	(181.5)	$	160.6

Weighted average common shares outstanding	218.5		223.1		219.4		223.5

Earnings (loss) per common share - basic	$	0.25	$	0.38	$	(0.83)	$	0.72

Diluted Earnings Per Common Share Computation	Three Months Ended				Nine Months Ended
(in millions, except per share amounts)	2020		2019		2020		2019

Net income (loss) attributable to Dentsply Sirona	$	53.8	$	85.0	$	(181.5)	$	160.6

Weighted average common shares outstanding	218.5		223.1		219.4		223.5
Incremental weighted average shares from assumed exercise of dilutive options from stock-based compensation awards	0.7		1.8		—		1.7
Total weighted average diluted shares outstanding	219.2		224.9		219.4		225.2

Earnings (loss) per common share - diluted	$	0.25	$	0.38	$	(0.83)	$	0.71

SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Third Party Net Sales

The Company’s segment information for the three and nine months ended September 30, 2020 and 2019 was as follows:

Net Sales


	Three Months Ended				Nine Months Ended
(in millions)	2020		2019		2020		2019

Technologies & Equipment	$	503.8	$	534.5	$	1,328.0	$	1,613.7
Consumables	391.0		427.6		931.7		1,304.0
Total net sales	$	894.8	$	962.1	$	2,259.7	$	2,917.7

Segment Adjusted Operating Income


	Three Months Ended				Nine Months Ended
(in millions)	2020		2019		2020		2019

Technologies & Equipment	$	109.6	$	104.7	$	216.9	$	272.5
Consumables	99.1		113.8		143.1		341.3
Segment adjusted operating income	208.7		218.5		360.0		613.8

Reconciling items expense (income):
All other (a)	57.9		54.7		141.1		173.3
Goodwill impairment	—		—		156.6		—
Restructuring and other costs	18.7		5.2		62.5		68.1
Interest expense	14.5		6.6		33.5		23.0
Interest income	(0.4)		(0.7)		(1.8)		(2.0)
Other expense (income), net	0.9		(2.9)		3.8		(4.6)
Amortization of intangible assets	48.8		47.4		142.6		142.9
Depreciation resulting from the fair value step-up of property, plant, and equipment from business combinations	1.6		1.7		4.6		5.2
Income (loss) before income taxes	$	66.7	$	106.5	$	(182.9)	$	207.9

(a) Includes the results of unassigned Corporate headquarters costs and inter-segment eliminations.

INVENTORIES (Tables)

9 Months Ended

Sep. 30, 2020

Inventory Disclosure [Abstract]

Inventories, Net

Inventories, net were as follows:


(in millions)	September 30, 2020		December 31, 2019

Finished goods	$	282.0	$	356.4
Work-in-process	75.0		82.5
Raw materials and supplies	132.1		122.8
Inventories, net	$	489.1	$	561.7

RESTRUCTURING AND OTHER COSTS (Tables)

9 Months Ended

Sep. 30, 2020

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The details of total restructuring costs for the three and nine months ended September 30 were as follows:


Affected Line Item in the Consolidated Statements of Operations	Three Months Ended				Nine Months Ended
(in millions)	2020		2019		2020		2019

Cost of products sold	$	32.3	$	3.6	$	32.7	$	24.3
Selling, general, and administrative expenses	1.3		(1.1)		0.6		20.3
Restructuring and other costs	18.7		5.2		62.5		68.1
Other income and expenses	—		(0.4)		(0.3)		5.0
Total restructuring costs	$	52.3	$	7.3	$	95.5	$	117.7

The Company’s restructuring accruals at September 30, 2020 were as follows:


	Severance
(in millions)	2018 and Prior Plans		2019 Plans		2020 Plans		Total

Balance at December 31, 2019	$	7.2	$	19.8	$	—	$	27.0
Provisions	1.1		1.5		19.3		21.9
Amounts applied	(3.2)		(7.4)		(1.8)		(12.4)
Change in estimates	(0.5)		(3.6)		—		(4.1)
Balance at September 30, 2020	$	4.6	$	10.3	$	17.5	$	32.4


	Lease/Contract Terminations
(in millions)	2018 and Prior Plans		2020 Plans		Total

Balance at December 31, 2019	$	0.5	$	—	$	0.5
Provisions	0.4		0.3		0.7
Amounts applied	(0.4)		(0.1)		(0.5)

Balance at September 30, 2020	$	0.5	$	0.2	$	0.7


	Other Restructuring Costs
(in millions)	2018 and Prior Plans		2019 Plans		2020 Plans		Total

Balance at December 31, 2019	$	2.2	$	0.3	$	—	$	2.5
Provisions	—		0.5		0.4		0.9
Amounts applied	—		(0.7)		0.1		(0.6)
Change in estimate	—		(0.1)		—		(0.1)
Balance at September 30, 2020	$	2.2	$	—	$	0.5	$	2.7

Cumulative Amounts for the Provisions and Adjustments and Amounts Applied for All the Plans by Segment

The cumulative amounts for the provisions and adjustments and amounts applied for all the plans by segment were as follows:


(in millions)	December 31, 2019		Provisions		Amounts Applied		Change in Estimates		September 30, 2020

Technologies & Equipment	$	19.1	$	16.3	$	(8.0)	$	(4.0)	$	23.4
Consumables	11.4		4.5		(3.9)		(0.1)		11.9
All Other	(0.5)		2.7		(1.6)		(0.1)		0.5
Total	$	30.0	$	23.5	$	(13.5)	$	(4.2)	$	35.8

FINANCIAL INSTRUMENTS AND DERIVATIVES (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments


(in millions)	Aggregate Notional Amount		Aggregate Notional Amount Maturing within 12 Months

Foreign exchange forward contracts	$	325.6	$	236.9


Total derivative instruments designated as cash flow hedges	$	325.6	$	236.9

The notional amount of hedges of net investments by derivative instrument type at September 30, 2020 and the notional amounts expected to mature during the next 12 months were as follows:


(in millions)	Aggregate Notional Amount		Aggregate Notional Amount Maturing within 12 Months





Cross currency basis swaps	$	308.6	$	308.6
Total for instruments designated as hedges of net investment	$	308.6	$	308.6

The notional amounts of fair value hedges by derivative instrument type at September 30, 2020 and the notional amounts expected to mature during the next 12 months were as follows:


(in millions)	Aggregate Notional Amount		Aggregate Notional Amount Maturing within 12 Months

Foreign exchange forward contracts	$	98.3	$	70.2
Total derivative instruments as fair value hedges	$	98.3	$	70.2

Derivative Instruments, Gain (Loss)

Gains and losses recorded in AOCI in the Consolidated Balance Sheets, Cost of products sold and Interest expense in the Company's Consolidated Statements of Operations related to all cash flow hedges for the nine months ended September 30, 2020 were as follows:


	Nine Months Ended September 30, 2020
	Gain (Loss) in AOCI		Consolidated Statements of Operations Location	Effective Portion Reclassified from AOCI into Income (Expense)		Ineffective Portion Recognized in Income (Expense)

(in millions)

Effective Portion:
Foreign exchange forward contracts	$	(1.7)	Cost of products sold	$	2.2	$	—
Interest rate swaps	(17.1)		Interest expense	(2.6)		—

Ineffective Portion:
Foreign exchange forward contracts	—		Cost of products sold	—		2.2
Total in cash flow hedging	$	(18.8)		$	(0.4)	$	2.2


	Nine Months Ended September 30, 2019
	Gain (Loss) in AOCI		Consolidated Statements of Operations Location	Effective Portion Reclassified from AOCI into Income (Expense)		Ineffective Portion Recognized in Income (Expense)

(in millions)

Effective Portion:
Foreign exchange forward contracts	$	(4.0)	Cost of products sold	$	0.4	$	—
Interest rate swaps	(14.6)		Interest expense	(1.8)		—

Ineffective Portion:
Foreign exchange forward contracts	—		Cost of products sold	—		1.5
Total in cash flow hedging	$	(18.6)		$	(1.4)	$	1.5


	Three Months Ended September 30, 2020
	Gain (Loss) in AOCI		Consolidated Statements of Operations Location	Recognized in Income (Expense)

(in millions)

Effective Portion:
Cross currency basis swaps	$	(16.8)	Interest expense	$	2.0



Total for net investment hedging	$	(16.8)		$	2.0

	Three Months Ended September 30, 2019
(in millions)	Gain (Loss) in AOCI		Consolidated Statements of Operations Locations	Recognized in Income (Expense)

Effective Portion:
Cross currency basis swaps	$	12.4	Interest expense	$	2.2

Foreign exchange forward contracts	25.5		Other expense (income), net	6.1

Total for net investment hedging	$	37.9		$	8.3


	Nine Months Ended September 30, 2020
	Gain (Loss) in AOCI		Consolidated Statements of Operations Location	Recognized in Income (Expense)

(in millions)

Effective Portion:
Cross currency basis swaps	$	(13.4)	Interest expense	$	6.4

Foreign exchange forward contracts	6.4		Other expense (income), net	6.2

Total for net investment hedging	$	(7.0)		$	12.6

	Nine Months Ended September 30, 2019
(in millions)	Gain (Loss) in AOCI		Consolidated Statements of Operations Location	Recognized in Income (Expense)

Effective Portion:
Cross currency basis swaps	$	13.1	Interest expense	$	6.3

Foreign exchange forward contracts	31.7		Other expense (income), net	15.7

Total for net investment hedging	$	44.8		$	22.0

Schedule of Aggregate Notional Amounts of Economic Hedges Not Designated as Hedges


(in millions)	Aggregate Notional Amount		Aggregate Notional Amount Maturing within 12 Months

Foreign exchange forward contracts	$	226.2	$	226.2



Total for instruments not designated as hedges	$	226.2	$	226.2

Fair Value, by Balance Sheet Grouping

The fair value and the location of the Company's derivatives in the Consolidated Balance Sheets at December 31, 2019 were as follows:















	December 31, 2019
(in millions)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Accrued Liabilities		Other Noncurrent Liabilities

Designated as Hedges:
Foreign exchange forward contracts	$	26.9	$	11.3	$	1.3	$	1.8
Interest rate swaps	—		—		—		10.8
Cross currency basis swaps	—		6.9		—		—
Total	$	26.9	$	18.2	$	1.3	$	12.6

Not Designated as Hedges:
Foreign exchange forward contracts	$	2.0	$	—	$	1.5	$	—
Total	$	2.0	$	—	$	1.5	$	—

Offsetting Derivative Assets and Liabilities


							Gross Amounts Not Offset in the Consolidated Balance Sheets
(in millions)	Gross Amounts Recognized		Gross Amount Offset in the Consolidated Balance Sheets		Net Amounts Presented in the Consolidated Balance Sheets		Financial Instruments		Cash Collateral Received/Pledged		Net Amount

Assets
Foreign exchange forward contracts	$	4.3	$	—	$	4.3	$	(2.5)	$	—	$	1.8




Total assets	$	4.3	$	—	$	4.3	$	(2.5)	$	—	$	1.8

Liabilities
Foreign exchange forward contracts	$	4.4	$	—	$	4.4	$	—	$	—	$	4.4


Cross currency basis swaps	6.5		—		6.5		(2.5)		—		4.0

Total liabilities	$	10.9	$	—	$	10.9	$	(2.5)	$	—	$	8.4

Offsetting of financial assets and liabilities under netting arrangements at December 31, 2019 were as follows:



							Gross Amounts Not Offset in the Consolidated Balance Sheets
(in millions)	Gross Amounts Recognized		Gross Amount Offset in the Consolidated Balance Sheets		Net Amounts Presented in the Consolidated Balance Sheets		Financial Instruments		Cash Collateral Received/Pledged		Net Amount

Assets
Foreign exchange forward contracts	$	38.8	$	—	$	38.8	$	(7.8)	$	—	$	31.0


Cross currency basis swaps	6.9		—		6.9		(0.9)		—		6.0
Total assets	$	45.7	$	—	$	45.7	$	(8.7)	$	—	$	37.0

Liabilities
Foreign exchange forward contracts	$	3.2	$	—	$	3.2	$	(3.0)	$	—	$	0.2

Interest rate swaps	10.8		—		10.8		(5.7)		—		5.1


Total liabilities	$	14.0	$	—	$	14.0	$	(8.7)	$	—	$	5.3

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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+ Details

FAIR VALUE MEASUREMENT (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities at fair value

The Company’s financial assets and liabilities set forth by level within the fair value hierarchy that were accounted for at fair value on a recurring basis were as follows:



	September 30, 2020
(in millions)	Total		Level 1		Level 2		Level 3

Assets




Foreign exchange forward contracts	$	4.3	$	—	$	4.3	$	—

Total assets	$	4.3	$	—	$	4.3	$	—

Liabilities


Cross currency basis swaps	$	6.5	$	—	$	6.5	$	—
Foreign exchange forward contracts	4.3		—		4.3		—

Contingent considerations on acquisitions	5.7		—		—		5.7
Total liabilities	$	16.5	$	—	$	10.8	$	5.7



	December 31, 2019
(in millions)	Total		Level 1		Level 2		Level 3

Assets



Cross currency basis swaps	$	6.9	$	—	$	6.9	$	—
Foreign exchange forward contracts	40.2		—		40.2		—

Total assets	$	47.1	$	—	$	47.1	$	—

Liabilities
Interest rate swaps	$	10.8	$	—	$	10.8	$	—


Foreign exchange forward contracts	4.6		—		4.6		—

Contingent considerations on acquisitions	8.7		—		—		8.7

Total liabilities	$	24.1	$	—	$	15.4	$	8.7

GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

A reconciliation of changes in the Company’s goodwill by reportable segment were as follows:


(in millions)	Technologies & Equipment		Consumables		Total

Balance at December 31, 2019	$	2,515.7	$	880.8	$	3,396.5




Impairment	(156.6)		—		(156.6)
Effects of exchange rate changes	44.3		(1.5)		42.8
Balance at September 30, 2020	$	2,403.4	$	879.3	$	3,282.7

The gross carrying amount of goodwill and the cumulative goodwill impairment were as follows:


	September 30, 2020						December 31, 2019
(in millions)	Gross Carrying Amount		Cumulative Impairment		Net Carrying Amount		Gross Carrying Amount		Cumulative Impairment		Net Carrying Amount

Technologies & Equipment	$	5,296.5	$	(2,893.1)	$	2,403.4	$	5,252.3	$	(2,736.6)	$	2,515.7
Consumables	879.3		—		879.3		880.8		—		880.8
Total effect of cumulative impairment	$	6,175.8	$	(2,893.1)	$	3,282.7	$	6,133.1	$	(2,736.6)	$	3,396.5

Schedule of Definite-lived and Indefinite-lived Intangible Assets

Identifiable definite-lived and indefinite-lived intangible assets were as follows:


	September 30, 2020						December 31, 2019
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Patents	$	1,420.3	$	(623.5)	$	796.8	$	1,371.9	$	(517.9)	$	854.0
Tradenames and trademarks	81.3		(68.2)		13.1		79.0		(63.4)		15.6
Licensing agreements	36.4		(29.4)		7.0		36.0		(27.9)		8.1
Customer relationships	1,091.5		(461.5)		630.0		1,070.5		(399.2)		671.3
Total definite-lived	$	2,629.5	$	(1,182.6)	$	1,446.9	$	2,557.4	$	(1,008.4)	$	1,549.0

Indefinite-lived tradenames and trademarks	$	611.2	$	—	$	611.2	$	627.3	$	—	$	627.3

Total identifiable intangible assets	$	3,240.7	$	(1,182.6)	$	2,058.1	$	3,184.7	$	(1,008.4)	$	2,176.3

SIGNIFICANT ACCOUNTING POLICIES - ADDITIONAL INFORMATION (Details)	9 Months Ended
	Sep. 30, 2020 USD ($)	Dec. 31, 2019 USD ($)
Significant Accounting Policies [Line Items]
Cash and cash equivalents	$ 1,272,000,000.0	$ 404,900,000
Debt instrument, covenant, operating income excluding depreciation and amortization to interest expense, minimum	3.0
Line of Credit \| 2018 Revolving Credit Facility
Significant Accounting Policies [Line Items]
Maximum borrowing capacity	$ 700,000,000.0
Line of Credit \| Various Credit Facilities
Significant Accounting Policies [Line Items]
Maximum borrowing capacity	400,000,000.0
Trade Accounts Receivable
Significant Accounting Policies [Line Items]
Allowance for doubtful accounts and trade discounts	$ 31,100,000	$ 29,400,000

SIGNIFICANT ACCOUNTING POLICIES - REVENUE RECOGNITION (Details) $ in Millions	Sep. 30, 2020 USD ($)
Accounting Policies [Abstract]
Revenue, remaining performance obligation, amount	$ 28.4

STOCK COMPENSATION (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
STOCK COMPENSATION (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	$ 16.3	$ 15.2	$ 35.4	$ 49.0
Related deferred income tax benefit	1.6	1.8	3.7	6.8
Selling, general, and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	16.1	14.7	34.6	47.5
Cost of products sold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	0.2	0.5	0.8	1.5
Stock option expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	1.6	0.6	5.1	5.6
RSU expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	$ 14.7	$ 14.6	$ 30.3	$ 43.4

COMPREHENSIVE INCOME (LOSS) - SUMMARY OF COMPREHENSIVE INCOME, NET OF TAX (Details) - Foreign Currency Translation Gain (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Condensed Statement of Income Captions [Line Items]
Foreign currency translation gains (losses)	$ 107.1	$ (147.2)	$ 67.6	$ (164.2)
Foreign currency translation (losses) gains on hedges of net investments
Condensed Statement of Income Captions [Line Items]
Foreign currency translation gains (losses)	$ (22.3)	$ 19.7	$ (28.0)	$ 19.1

COMPREHENSIVE INCOME (LOSS) - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Cumulative foreign currency translation adjustment gain (loss)	$ 4,762.3	$ 4,645.4	$ 4,690.2	$ 5,094.9	$ 5,059.1	$ 5,182.9	$ 5,109.5	$ 5,133.0
Foreign Currency Translation Gain (Loss)
Derivative [Line Items]
Foreign currency tax adjustment	189.5			173.0
Cumulative foreign currency translation adjustment gain (loss)	(328.7)			(368.3)	$ (429.8)			$ (284.7)
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest, Translation Gain (Loss)
Derivative [Line Items]
Cumulative foreign currency translation adjustment gain (loss)	(192.6)			(260.2)
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest, Net Investment Hedges
Derivative [Line Items]
Cumulative foreign currency translation adjustment gain (loss)	$ (136.1)			$ (108.1)

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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+ Details

COMPREHENSIVE INCOME (LOSS) - BALANCES INCLUDED IN AOCI, NET OF TAX, IN THE CONSOLIDATED BALANCE SHEETS (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	$ 4,645.4	$ 4,690.2	$ 5,094.9	$ 5,182.9	$ 5,109.5	$ 5,133.0	$ 5,094.9	$ 5,133.0
Total other comprehensive income (loss), net of tax	67.1	67.6	(112.2)	(106.5)	34.8	(58.4)	22.5	(130.1)
Ending Balance	4,762.3	4,645.4	4,690.2	5,059.1	5,182.9	5,109.5	4,762.3	5,059.1
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	(644.7)	(712.2)	(599.7)	(502.6)	(537.4)	(478.7)	(599.7)	(478.7)
Other comprehensive (loss) income before reclassifications and tax impact							0.5	(120.9)
Tax benefit							16.5	(13.6)
Other comprehensive (loss) income, net of tax, before reclassifications							17.0	(134.5)
Amounts reclassified from accumulated other comprehensive income, net of tax							5.1	4.1
Total other comprehensive income (loss), net of tax	67.1	67.5	(112.5)	(106.5)	34.8	(58.7)	22.1	(130.4)
Ending Balance	(577.6)	$ (644.7)	(712.2)	(609.1)	$ (502.6)	(537.4)	(577.6)	(609.1)
Foreign Currency Translation Gain (Loss)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance			(368.3)			(284.7)	(368.3)	(284.7)
Other comprehensive (loss) income before reclassifications and tax impact							26.3	(134.0)
Tax benefit							13.3	(11.1)
Other comprehensive (loss) income, net of tax, before reclassifications							39.6	(145.1)
Amounts reclassified from accumulated other comprehensive income, net of tax							0.0	0.0
Total other comprehensive income (loss), net of tax							39.6	(145.1)
Ending Balance	(328.7)			(429.8)			(328.7)	(429.8)
Gain (Loss) on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance			(10.6)			0.6	(10.6)	0.6
Other comprehensive (loss) income before reclassifications and tax impact							(18.8)	(18.6)
Tax benefit							2.4	4.5
Other comprehensive (loss) income, net of tax, before reclassifications							(16.4)	(14.1)
Amounts reclassified from accumulated other comprehensive income, net of tax							0.4	1.4
Total other comprehensive income (loss), net of tax							(16.0)	(12.7)
Ending Balance	(26.6)			(12.1)			(26.6)	(12.1)
Gain (Loss) on Net Investment Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance			(100.7)			(111.4)	(100.7)	(111.4)
Other comprehensive (loss) income before reclassifications and tax impact							(7.0)	31.7
Tax benefit							0.8	(7.0)
Other comprehensive (loss) income, net of tax, before reclassifications							(6.2)	24.7
Amounts reclassified from accumulated other comprehensive income, net of tax							0.0	0.0
Total other comprehensive income (loss), net of tax							(6.2)	24.7
Ending Balance	(106.9)			(86.7)			(106.9)	(86.7)
Pension Liability Gain (Loss)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance			$ (120.1)			$ (83.2)	(120.1)	(83.2)
Other comprehensive (loss) income before reclassifications and tax impact							0.0	0.0
Tax benefit							0.0	0.0
Other comprehensive (loss) income, net of tax, before reclassifications							0.0	0.0
Amounts reclassified from accumulated other comprehensive income, net of tax							4.7	2.7
Total other comprehensive income (loss), net of tax							4.7	2.7
Ending Balance	$ (115.4)			$ (80.5)			$ (115.4)	$ (80.5)

EARNINGS PER COMMON SHARE - EARNINGS PER SHARE COMPUTATION (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Basic Earnings Per Common Share Computation
Net income (loss) attributable to Dentsply Sirona	$ 53.8	$ 85.0	$ (181.5)	$ 160.6
Weighted average common shares outstanding (in shares)	218.5	223.1	219.4	223.5
Earnings (loss) per common share - basic (in dollars per share)	$ 0.25	$ 0.38	$ (0.83)	$ 0.72
Diluted Earnings Per Common Share Computation
Net income (loss) attributable to Dentsply Sirona	$ 53.8	$ 85.0	$ (181.5)	$ 160.6
Weighted average common shares outstanding (in shares)	218.5	223.1	219.4	223.5
Incremental weighted average shares from assumed exercise of dilutive options from stock-based compensation awards (in shares)	0.7	1.8	0.0	1.7
Total weighted average diluted shares outstanding (in shares)	219.2	224.9	219.4	225.2
Earnings (loss) per common share - diluted (in dollars per share)	$ 0.25	$ 0.38	$ (0.83)	$ 0.71

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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EARNINGS PER COMMON SHARE - ADDITIONAL INFORMATION (Details) - USD ($)			2 Months Ended	3 Months Ended		9 Months Ended
	May 12, 2020	Mar. 09, 2020	May 12, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Line Items]
Potentially dilutive securities excluded from computation of earnings per share, amount (in shares)						900,000
Antidilutive common stock options not included in the computation of diluted earnings per common share (in shares)				3,500,000	2,500,000
Accelerated share repurchases, authorized amount		$ 140,000,000.0
Accelerated share repurchases, settlement (payment) or receipt		$ 140,000,000.0
Stock repurchased during period, shares (in shares)	1,000,000.0	2,700,000
Accelerated share repurchases, final price paid per share (in usd per share)		$ 42.12
Arithmetic Average
Earnings Per Share [Line Items]
Accelerated share repurchases, final price paid per share (in usd per share)			$ 38.88
Common Stock
Earnings Per Share [Line Items]
Antidilutive common stock options not included in the computation of diluted earnings per common share (in shares)							3,400,000
Stock Options And Restricted Stock Units
Earnings Per Share [Line Items]
Antidilutive common stock options not included in the computation of diluted earnings per common share (in shares)						3,200,000

SEGMENT INFORMATION - ADDITIONAL INFORMATION (Details) - segment	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Number of operating groups			2
Dental Products
Segment Reporting Information [Line Items]
Percentage of sales, professional dental products	91.00%	92.00%	89.00%	92.00%

SEGMENT INFORMATION - THIRD PARTY NET SALES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue, Major Customer [Line Items]
Total net sales	$ 894.8	$ 962.1	$ 2,259.7	$ 2,917.7
Technologies & Equipment
Revenue, Major Customer [Line Items]
Total net sales	503.8	534.5	1,328.0	1,613.7
Consumables
Revenue, Major Customer [Line Items]
Total net sales	$ 391.0	$ 427.6	$ 931.7	$ 1,304.0

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

SEGMENT INFORMATION - SEGMENT ADJUSTED OPERATING INCOME (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Reconciling items expense (income):
Segment adjusted operating income	$ 81,700,000	$ 109,500,000	$ (147,400,000)	$ 224,300,000
Goodwill impairment	0	0	156,600,000	0
Interest expense	14,500,000	6,600,000	33,500,000	23,000,000.0
Interest income	(400,000)	(700,000)	(1,800,000)	(2,000,000.0)
Other expense (income), net	900,000	(2,900,000)	3,800,000	(4,600,000)
Amortization of intangible assets			142,600,000	142,900,000
Income (loss) before income taxes	66,700,000	106,500,000	(182,900,000)	207,900,000
Technologies & Equipment
Reconciling items expense (income):
Goodwill impairment			156,600,000
Consumables
Reconciling items expense (income):
Goodwill impairment			0
Operating Segments
Reconciling items expense (income):
Segment adjusted operating income	208,700,000	218,500,000	360,000,000.0	613,800,000
Operating Segments \| Technologies & Equipment
Reconciling items expense (income):
Segment adjusted operating income	109,600,000	104,700,000	216,900,000	272,500,000
Operating Segments \| Consumables
Reconciling items expense (income):
Segment adjusted operating income	99,100,000	113,800,000	143,100,000	341,300,000
All Other
Reconciling items expense (income):
All Other	57,900,000	54,700,000	141,100,000	173,300,000
Segment Reconciling Items
Reconciling items expense (income):
Goodwill impairment	0	0	156,600,000	0
Restructuring and other costs	18,700,000	5,200,000	62,500,000	68,100,000
Interest expense	14,500,000	6,600,000	33,500,000	23,000,000.0
Interest income	(400,000)	(700,000)	(1,800,000)	(2,000,000.0)
Other expense (income), net	900,000	(2,900,000)	3,800,000	(4,600,000)
Amortization of intangible assets	48,800,000	47,400,000	142,600,000	142,900,000
Depreciation resulting from the fair value step-up of property, plant, and equipment from business combinations	$ 1,600,000	$ 1,700,000	$ 4,600,000	$ 5,200,000

INVENTORIES - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
LIFO inventory amount	$ 5.9	$ 5.0
Inventory, LIFO reserve	20.4	14.3
Inventory valuation reserve	$ 125.6	$ 85.0

INVENTORIES - SUMMARY OF INVENTORY (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Finished goods	$ 282.0	$ 356.4
Work-in-process	75.0	82.5
Raw materials and supplies	132.1	122.8
Inventories, net	$ 489.1	$ 561.7

RESTRUCTURING AND OTHER COSTS - ADDITIONAL INFORMATION (Details) - USD ($)		3 Months Ended		9 Months Ended
	Aug. 06, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring costs and asset impairment charges		$ 52,300,000	$ 7,300,000	$ 95,500,000	$ 117,700,000
Restructuring and related cost, accelerated depreciation		8,400,000		9,100,000
Severance costs		15,700,000	1,900,000	20,600,000	29,300,000
Asset impairment charges		2,200,000	3,800,000	41,000,000.0	41,800,000
August 2020 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring, incurred cost		(48,000,000)
Minimum \| August 2020 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	$ 70,000,000
Maximum \| August 2020 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	$ 80,000,000
Inventory Write-Down
Restructuring Cost and Reserve [Line Items]
Restructuring costs and asset impairment charges		24,500,000	$ 2,500,000	$ 24,600,000	$ 19,500,000
Inventory Write-Down \| August 2020 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring, incurred cost		(25,000,000)
Fixed Asset Depreciation \| August 2020 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring, incurred cost		(8,000,000)
Severance \| August 2020 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring, incurred cost		$ (13,000,000)
Facility Closing \| Minimum \| August 2020 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, number of positions eliminated, period percent	4.00%
Facility Closing \| Maximum \| August 2020 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, number of positions eliminated, period percent	5.00%

RESTRUCTURING AND OTHER COSTS - CONSOLIDATED STATEMENTS OF OPERATIONS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	$ 52.3	$ 7.3	$ 95.5	$ 117.7
Cost of products sold
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	32.3	3.6	32.7	24.3
Selling, general, and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	1.3	(1.1)	0.6	20.3
Restructuring and other costs
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	18.7	5.2	62.5	68.1
Other income and expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Costs and Asset Impairment Charges	$ 0.0	$ (0.4)	$ (0.3)	$ 5.0

RESTRUCTURING AND OTHER COSTS - RESTRUCTURING ACCURALS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Reserve [Roll Forward]
Restructuring and other costs	$ 18.7	$ 5.2	$ 62.5	$ 68.1
2020 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			30.0
Restructuring and other costs			23.5
Amounts applied			13.5
Change in estimates			(4.2)
Ending Balance	35.8		35.8
Severance
Restructuring Reserve [Roll Forward]
Beginning Balance			27.0
Restructuring and other costs			21.9
Amounts applied			12.4
Change in estimates			(4.1)
Ending Balance	32.4		32.4
Severance \| 2018 and Prior Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			7.2
Restructuring and other costs			1.1
Amounts applied			3.2
Change in estimates			(0.5)
Ending Balance	4.6		4.6
Severance \| 2019 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			19.8
Restructuring and other costs			1.5
Amounts applied			7.4
Change in estimates			(3.6)
Ending Balance	10.3		10.3
Severance \| 2020 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			0.0
Restructuring and other costs			19.3
Amounts applied			1.8
Change in estimates			0.0
Ending Balance	17.5		17.5
Lease/Contract Terminations
Restructuring Reserve [Roll Forward]
Beginning Balance			0.5
Restructuring and other costs			0.7
Amounts applied			0.5
Ending Balance	0.7		0.7
Lease/Contract Terminations \| 2018 and Prior Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			0.5
Restructuring and other costs			0.4
Amounts applied			0.4
Ending Balance	0.5		0.5
Lease/Contract Terminations \| 2020 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			0.0
Restructuring and other costs			0.3
Amounts applied			0.1
Ending Balance	0.2		0.2
Other Restructuring Costs
Restructuring Reserve [Roll Forward]
Beginning Balance			2.5
Restructuring and other costs			0.9
Amounts applied			0.6
Change in estimates			(0.1)
Ending Balance	2.7		2.7
Other Restructuring Costs \| 2018 and Prior Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			2.2
Restructuring and other costs			0.0
Amounts applied			0.0
Change in estimates			0.0
Ending Balance	2.2		2.2
Other Restructuring Costs \| 2019 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			0.3
Restructuring and other costs			0.5
Amounts applied			0.7
Change in estimates			(0.1)
Ending Balance	0.0		0.0
Other Restructuring Costs \| 2020 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			0.0
Restructuring and other costs			0.4
Amounts applied			0.1
Change in estimates			0.0
Ending Balance	$ 0.5		$ 0.5

RESTRUCTURING AND OTHER COSTS - PROVISIONS AND ADJUSTMENTS AND AMOUNTS APPLIED FOR ALL PLANS BY SEGMENT (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Reserve [Roll Forward]
Restructuring and other costs	$ 18.7	$ 5.2	$ 62.5	$ 68.1
2020 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			30.0
Restructuring and other costs			23.5
Amounts applied			(13.5)
Change in estimates			(4.2)
Ending Balance	35.8		35.8
Operating Segments \| Technologies & Equipment \| 2020 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			19.1
Restructuring and other costs			16.3
Amounts applied			(8.0)
Change in estimates			(4.0)
Ending Balance	23.4		23.4
Operating Segments \| Consumables \| 2020 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			11.4
Restructuring and other costs			4.5
Amounts applied			(3.9)
Change in estimates			(0.1)
Ending Balance	11.9		11.9
All Other \| 2020 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			(0.5)
Restructuring and other costs			2.7
Amounts applied			(1.6)
Change in estimates			(0.1)
Ending Balance	$ 0.5		$ 0.5

FINANCIAL INSTRUMENTS AND DERIVATIVES - CASH FLOW HEDGES (Details) - Cash Flow Hedging - Designated as Hedging Instrument $ in Millions	Sep. 30, 2020 USD ($)
Derivative [Line Items]
Derivative, notional amount	$ 325.6
Aggregate Notional Amount Maturing within 12 Months	236.9
Foreign exchange forward contracts
Derivative [Line Items]
Derivative, notional amount	325.6
Aggregate Notional Amount Maturing within 12 Months	$ 236.9

FINANCIAL INSTRUMENTS AND DERIVATIVES - GAIN (LOSS) ON AOCI (Details) - Designated as Hedging Instrument - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Apr. 07, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Cash Flow Hedging
Derivative [Line Items]
Gain (Loss) in AOCI				$ (18.8)	$ (18.6)
Effective Portion Reclassified from AOCI into Income (Expense)				(0.4)	(1.4)
Ineffective Portion Recognized in Income (Expense)				2.2	1.5
Cash Flow Hedging \| Foreign exchange forward contracts \| Cost of products sold
Derivative [Line Items]
Gain (Loss) in AOCI				(1.7)	(4.0)
Effective Portion Reclassified from AOCI into Income (Expense)				2.2	0.4
Ineffective Portion Recognized in Income (Expense)				2.2	1.5
Cash Flow Hedging \| Interest rate swaps \| Interest expense
Derivative [Line Items]
Gain (Loss) in AOCI				(17.1)	(14.6)
Effective Portion Reclassified from AOCI into Income (Expense)				(2.6)	(1.8)
Net Investment Hedging
Derivative [Line Items]
Gain (Loss) in AOCI		$ (16.8)	$ 37.9	(7.0)	44.8
Effective Portion Reclassified from AOCI into Income (Expense)	$ 48.1
Recognized in Income (Expense)		2.0	8.3	12.6	22.0
Net Investment Hedging \| Foreign exchange forward contracts
Derivative [Line Items]
Gain (Loss) in AOCI			25.5
Net Investment Hedging \| Foreign exchange forward contracts \| Other expense (income), net
Derivative [Line Items]
Gain (Loss) in AOCI				6.4	31.7
Recognized in Income (Expense)			6.1	6.2	15.7
Net Investment Hedging \| Cross currency basis swaps
Derivative [Line Items]
Gain (Loss) in AOCI			12.4
Net Investment Hedging \| Cross currency basis swaps \| Interest expense
Derivative [Line Items]
Gain (Loss) in AOCI		(16.8)		(13.4)	13.1
Recognized in Income (Expense)		$ 2.0		$ 6.4	$ 6.3
Net Investment Hedging \| Cross currency basis swaps \| Interest Income
Derivative [Line Items]
Recognized in Income (Expense)			$ 2.2

FINANCIAL INSTRUMENTS AND DERIVATIVES - ADDITIONAL INFORMATION (Details) - USD ($)			9 Months Ended
	May 26, 2020	Apr. 07, 2020	Sep. 30, 2020	Sep. 30, 2019	Mar. 11, 2019
Senior Notes \| Senior Unsecured Notes Maturing June 1, 2030
Derivative [Line Items]
Debt instrument, face amount	$ 750,000,000.0
Foreign exchange forward contracts
Derivative [Line Items]
Derivative, term of contract			18 months
Net Investment Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount			$ 308,600,000
Effective portion reclassified from AOCI into income (expense)		$ 48,100,000
Cash Flow Hedging \| Treasury Lock
Derivative [Line Items]
Repayments of debt	$ 30,500,000
Derivative, notional amount					$ 150,000,000.0
Long-term debt, term					10 years
Term of loan	10 years
Cash Flow Hedging \| Treasury Lock \| Senior Unsecured Notes Maturing June 1, 2030
Derivative [Line Items]
Derivative, notional amount	$ 150,000,000.0
Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount			325,600,000
Effective portion reclassified from AOCI into income (expense)			$ (400,000)	$ (1,400,000)

FINANCIAL INSTRUMENTS AND DERIVATIVES - NET INVESTMENT HEDGES (Details) $ in Millions	Sep. 30, 2020 USD ($)
Net Investment Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	$ 308.6
Aggregate Notional Amount Maturing within 12 Months	308.6
Net Investment Hedging \| Designated as Hedging Instrument \| Cross currency basis swaps
Derivative [Line Items]
Derivative, notional amount	308.6
Aggregate Notional Amount Maturing within 12 Months	308.6
Fair Value Hedging
Derivative [Line Items]
Derivative, notional amount	98.3
Aggregate Notional Amount Maturing within 12 Months	70.2
Fair Value Hedging \| Foreign exchange forward contracts
Derivative [Line Items]
Derivative, notional amount	98.3
Aggregate Notional Amount Maturing within 12 Months	$ 70.2

FINANCIAL INSTRUMENTS AND DERIVATIVES - HEDGES NOT DESIGNATED (Details) - Not Designated as Hedging Instrument $ in Millions	Sep. 30, 2020 USD ($)
Derivative [Line Items]
Derivative, notional amount	$ 226.2
Aggregate Notional Amount Maturing within 12 Months	226.2
Foreign exchange forward contracts
Derivative [Line Items]
Derivative, notional amount	226.2
Aggregate Notional Amount Maturing within 12 Months	$ 226.2

CONSOLIDATED BALANCE SHEETS LOCATION OF DERIVATIVE FAIR VALUES (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Derivative [Line Items]
Derivative asset, fair value, gross	$ 4.3	$ 45.7
Derivative liability, fair value, gross	10.9	14.0
Interest rate swaps
Derivative [Line Items]
Derivative liability, fair value, gross		10.8
Cross currency basis swaps
Derivative [Line Items]
Derivative asset, fair value, gross		6.9
Derivative liability, fair value, gross	$ 6.5
Prepaid Expenses and Other Current Assets \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative asset, fair value, gross		26.9
Prepaid Expenses and Other Current Assets \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative asset, fair value, gross		2.0
Prepaid Expenses and Other Current Assets \| Foreign exchange forward contracts \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative asset, fair value, gross		26.9
Prepaid Expenses and Other Current Assets \| Foreign exchange forward contracts \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative asset, fair value, gross		2.0
Prepaid Expenses and Other Current Assets \| Interest rate swaps \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative asset, fair value, gross		0.0
Prepaid Expenses and Other Current Assets \| Cross currency basis swaps \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative asset, fair value, gross		0.0
Other Noncurrent Assets \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative asset, fair value, gross		18.2
Other Noncurrent Assets \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative asset, fair value, gross		0.0
Other Noncurrent Assets \| Foreign exchange forward contracts \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative asset, fair value, gross		11.3
Other Noncurrent Assets \| Foreign exchange forward contracts \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative asset, fair value, gross		0.0
Other Noncurrent Assets \| Interest rate swaps \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative asset, fair value, gross		0.0
Other Noncurrent Assets \| Cross currency basis swaps \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative asset, fair value, gross		6.9
Accrued Liabilities \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, fair value, gross		1.3
Accrued Liabilities \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, fair value, gross		1.5
Accrued Liabilities \| Foreign exchange forward contracts \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, fair value, gross		1.3
Accrued Liabilities \| Foreign exchange forward contracts \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, fair value, gross		1.5
Accrued Liabilities \| Interest rate swaps \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, fair value, gross		0.0
Accrued Liabilities \| Cross currency basis swaps \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, fair value, gross		0.0
Other Noncurrent Liabilities \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, fair value, gross		12.6
Other Noncurrent Liabilities \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, fair value, gross		0.0
Other Noncurrent Liabilities \| Foreign exchange forward contracts \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, fair value, gross		1.8
Other Noncurrent Liabilities \| Foreign exchange forward contracts \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, fair value, gross		0.0
Other Noncurrent Liabilities \| Interest rate swaps \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, fair value, gross		10.8
Other Noncurrent Liabilities \| Cross currency basis swaps \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, fair value, gross		$ 0.0

FINANCIAL INSTRUMENTS AND DERIVATIVES - BALANCE SHEET OFFSETTING (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Assets
Gross Amounts Recognized	$ 4.3	$ 45.7
Gross Amount Offset in the Consolidated Balance Sheets	0.0	0.0
Net Amounts Presented in the Consolidated Balance Sheets	4.3	45.7
Financial Instruments	(2.5)	(8.7)
Cash Collateral Received/Pledged	0.0	0.0
Net Amount	1.8	37.0
Liabilities
Derivative liability, fair value, gross	10.9	14.0
Gross Amount Offset in the Consolidated Balance Sheets	0.0	0.0
Net Amounts Presented in the Consolidated Balance Sheets	10.9	14.0
Financial Instruments	(2.5)	(8.7)
Cash Collateral Received/Pledged	0.0	0.0
Net Amount	8.4	5.3
Foreign exchange forward contracts
Assets
Gross Amounts Recognized	4.3	38.8
Gross Amount Offset in the Consolidated Balance Sheets	0.0	0.0
Net Amounts Presented in the Consolidated Balance Sheets	4.3	38.8
Financial Instruments	(2.5)	(7.8)
Cash Collateral Received/Pledged	0.0	0.0
Net Amount	1.8	31.0
Liabilities
Derivative liability, fair value, gross	4.4	3.2
Gross Amount Offset in the Consolidated Balance Sheets	0.0	0.0
Net Amounts Presented in the Consolidated Balance Sheets	4.4	3.2
Financial Instruments	0.0	(3.0)
Cash Collateral Received/Pledged	0.0	0.0
Net Amount	4.4	0.2
Cross currency basis swaps
Assets
Gross Amounts Recognized		6.9
Gross Amount Offset in the Consolidated Balance Sheets		0.0
Net Amounts Presented in the Consolidated Balance Sheets		6.9
Financial Instruments		(0.9)
Cash Collateral Received/Pledged		0.0
Net Amount		6.0
Liabilities
Derivative liability, fair value, gross	6.5
Gross Amount Offset in the Consolidated Balance Sheets	0.0
Net Amounts Presented in the Consolidated Balance Sheets	6.5
Financial Instruments	(2.5)
Cash Collateral Received/Pledged	0.0
Net Amount	$ 4.0
Interest rate swaps
Liabilities
Derivative liability, fair value, gross		10.8
Gross Amount Offset in the Consolidated Balance Sheets		0.0
Net Amounts Presented in the Consolidated Balance Sheets		10.8
Financial Instruments		(5.7)
Cash Collateral Received/Pledged		0.0
Net Amount		$ 5.1

FAIR VALUE MEASUREMENT - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Estimate of Fair Value, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	$ 2,298.5	$ 1,440.8
Carrying (Reported) Amount, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	$ 2,226.1	$ 1,433.3

FAIR VALUE MEASUREMENT - ASSETS AND LIABILITIES, RECURRING (Details) - Fair Value, Recurring - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	$ 4.3	$ 47.1
Liabilities	16.5	24.1
Foreign exchange forward contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	4.3	40.2
Liabilities	4.3	4.6
Cross currency basis swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		6.9
Liabilities	6.5
Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		10.8
Contingent considerations on acquisitions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	5.7	8.7
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Level 1 \| Foreign exchange forward contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Level 1 \| Cross currency basis swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		0.0
Liabilities	0.0
Level 1 \| Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		0.0
Level 1 \| Contingent considerations on acquisitions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	0.0	0.0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	4.3	47.1
Liabilities	10.8	15.4
Level 2 \| Foreign exchange forward contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	4.3	40.2
Liabilities	4.3	4.6
Level 2 \| Cross currency basis swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		6.9
Liabilities	6.5
Level 2 \| Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		10.8
Level 2 \| Contingent considerations on acquisitions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	0.0	0.0
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0.0	0.0
Liabilities	5.7	8.7
Level 3 \| Foreign exchange forward contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Level 3 \| Cross currency basis swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets		0.0
Liabilities	0.0
Level 3 \| Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities		0.0
Level 3 \| Contingent considerations on acquisitions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	$ 5.7	$ 8.7

INCOME TAXES - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Tax expense for other discrete tax matters	$ 1.8
Tax benefit related to valuation allowances		$ 5.0

FINANCING ARRANGEMENTS (Details)							8 Months Ended	9 Months Ended
FINANCING ARRANGEMENTS (Details)	Jun. 11, 2020 JPY (¥)	May 26, 2020 USD ($)	May 12, 2020 EUR (€)	May 05, 2020 EUR (€)	Apr. 17, 2020 USD ($)	Apr. 09, 2020 USD ($)	Dec. 31, 2020	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Mar. 11, 2019 USD ($)
Line of Credit Facility [Line Items]
Borrowings available under lines of credit								$ 1,161,100,000
Cash paid on derivative contracts								$ 30,500,000	$ 0
Treasury Lock \| Cash Flow Hedging
Line of Credit Facility [Line Items]
Term of loan		10 years
Notional amount										$ 150,000,000.0
Treasury Lock \| Cash Flow Hedging \| Senior Unsecured Notes Maturing June 1, 2030
Line of Credit Facility [Line Items]
Cash paid on derivative contracts		$ 30,500,000
Notional amount		150,000,000.0
Notes Payable to Banks
Line of Credit Facility [Line Items]
Maximum borrowing capacity	¥ 3,300,000,000		€ 30,000,000.0	€ 40,000,000.0		$ 310,000,000.0
Term of loan	364 days		364 days	364 days		364 days
Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Term of loan								5 years
Line of Credit \| 2018 Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity								$ 700,000,000.0
Proceeds from long-term lines of credit					$ 700,000,000.0
Repayments of long-term lines of credit		700,000,000.0
Line of Credit \| 2018 Revolving Credit Facility \| Forecast \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate							1.25%
Line of Credit \| Commercial paper
Line of Credit Facility [Line Items]
Maximum borrowing capacity								$ 500,000,000.0
Senior Notes \| Senior Unsecured Notes Maturing June 1, 2030
Line of Credit Facility [Line Items]
Debt instrument, face amount		$ 750,000,000.0
Debt instrument, interest rate, stated percentage		3.25%
Proceeds from issuance of unsecured debt		$ 748,400,000
Debt instrument, unamortized discount		1,600,000
Debt issuance costs, gross		$ 6,400,000

GOODWILL AND INTANGIBLE ASSETS - NARRATIVE (Details)	3 Months Ended			9 Months Ended
GOODWILL AND INTANGIBLE ASSETS - NARRATIVE (Details)	Sep. 30, 2020 USD ($)	Mar. 31, 2020 USD ($) reporting_unit	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($) reportingUnit	Sep. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)
Goodwill [Line Items]
Number of reporting units \| reportingUnit				5
Goodwill impairment	$ 0		$ 0	$ 156,600,000	$ 0
Goodwill	3,282,700,000			3,282,700,000		$ 3,396,500,000
Indefinite-lived intangible asset impairment				$ 38,700,000	5,300,000
COVID-19
Goodwill [Line Items]
Number of reporting units \| reporting_unit		4
Minimum \| Measurement Input, Discount Rate
Goodwill [Line Items]
Goodwill measurement input				0.090
Minimum \| Measurement Input, Discount Rate \| COVID-19
Goodwill [Line Items]
Goodwill measurement input		0.095
Intangible asset, measurement input		0.100
Maximum \| Measurement Input, Discount Rate
Goodwill [Line Items]
Goodwill measurement input				0.115
Maximum \| Measurement Input, Discount Rate \| COVID-19
Goodwill [Line Items]
Goodwill measurement input		0.115
Intangible asset, measurement input		0.175
Equipment and Instruments Reporting Unit
Goodwill [Line Items]
Goodwill	291,500,000			$ 291,500,000
Reporting Unit Within The Technologies And Equipment Segment
Goodwill [Line Items]
Goodwill	1,200,000,000			1,200,000,000
Technologies & Equipment
Goodwill [Line Items]
Goodwill impairment				156,600,000
Goodwill	$ 2,403,400,000			$ 2,403,400,000		$ 2,515,700,000
Indefinite-lived intangible asset impairment					$ 5,300,000
Technologies & Equipment \| Equipment and Instruments Reporting Unit \| COVID-19
Goodwill [Line Items]
Goodwill impairment		$ 156,600,000
Goodwill		290,500,000
Indefinite-lived intangible asset impairment		38,700,000
Indefinite-lived tradenames and trademarks		$ 75,000,000.0

GOODWILL AND INTANGIBLE ASSETS - RECONCILIATION OF CHANGES IN GOODWILL (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Goodwill [Roll Forward]
Balance, beginning of the year			$ 3,396,500,000
Impairment	$ 0	$ 0	(156,600,000)	$ 0
Effects of exchange rate changes			42,800,000
Balance, end of the year	3,282,700,000		3,282,700,000
Technologies & Equipment
Goodwill [Roll Forward]
Balance, beginning of the year			2,515,700,000
Impairment			(156,600,000)
Effects of exchange rate changes			44,300,000
Balance, end of the year	2,403,400,000		2,403,400,000
Consumables
Goodwill [Roll Forward]
Balance, beginning of the year			880,800,000
Impairment			0
Effects of exchange rate changes			(1,500,000)
Balance, end of the year	$ 879,300,000		$ 879,300,000

GOODWILL AND INTANGIBLE ASSETS - GOODWILL CARRYING AMOUNT (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Goodwill [Line Items]
Gross Carrying Amount	$ 6,175.8	$ 6,133.1
Cumulative Impairment	(2,893.1)	(2,736.6)
Net Carrying Amount	3,282.7	3,396.5
Technologies & Equipment
Goodwill [Line Items]
Gross Carrying Amount	5,296.5	5,252.3
Cumulative Impairment	(2,893.1)	(2,736.6)
Net Carrying Amount	2,403.4	2,515.7
Consumables
Goodwill [Line Items]
Gross Carrying Amount	879.3	880.8
Cumulative Impairment	0.0	0.0
Net Carrying Amount	$ 879.3	$ 880.8

GOODWILL AND INTANGIBLE ASSETS - IDENTIFIABLE DEFINITE-LIVED AND INDEFINITE-LIVED INTANGIBLE ASSETS (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,629.5	$ 2,557.4
Accumulated Amortization	(1,182.6)	(1,008.4)
Net Carrying Amount	1,446.9	1,549.0
Intangible Assets, Gross (Excluding Goodwill)	3,240.7	3,184.7
Identifiable intangible assets, net	2,058.1	2,176.3
Tradenames and trademarks
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived tradenames and trademarks	611.2	627.3
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,420.3	1,371.9
Accumulated Amortization	(623.5)	(517.9)
Net Carrying Amount	796.8	854.0
Tradenames and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	81.3	79.0
Accumulated Amortization	(68.2)	(63.4)
Net Carrying Amount	13.1	15.6
Licensing agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	36.4	36.0
Accumulated Amortization	(29.4)	(27.9)
Net Carrying Amount	7.0	8.1
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,091.5	1,070.5
Accumulated Amortization	(461.5)	(399.2)
Net Carrying Amount	$ 630.0	$ 671.3

COMMITMENTS AND CONTINGENCIES (Details)			9 Months Ended	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Details)	Apr. 29, 2019 stockholder	Jan. 11, 2018	Sep. 30, 2020 USD ($)	Dec. 31, 2013 USD ($)	Jun. 07, 2018 performancePeriod
Loss Contingencies [Line Items]
Employment agreement terms minimum period of employment		8 years
Number of class action lawsuits \| performancePeriod					2
Number of distributors \| performancePeriod					3
Loss contingency, number of plaintiffs \| stockholder	2
Income tax effects allocated directly to equity, employee stock options				$ 546,000,000.0
Swedish Tax Agency
Loss Contingencies [Line Items]
Income Tax Examination, Estimate of Possible Loss			$ 56,000,000
Tax Year 2012 \| IRS
Loss Contingencies [Line Items]
Liability (refund) from income tax examination			(4,700,000)
Tax Year 2013 \| IRS
Loss Contingencies [Line Items]
Liability (refund) from income tax examination			0
Tax Year 2014 \| IRS
Loss Contingencies [Line Items]
Liability (refund) from income tax examination			$ 17,100,000

Subsequent Events (Details)	Oct. 22, 2020 USD ($)
Subsequent Event
Subsequent Event [Line Items]
Payments to acquire equity method investments	$ 45,000,000