0001140361-22-040128 | 10-Q/A | XBRL Viewer

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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2021	Nov. 02, 2021
Cover [Abstract]
Document Type	10-Q/A
Amendment Flag	true
Amendment Description	Dentsply Sirona Inc. (“Dentsply Sirona” or the “Company”) is filing this Amendment No. 1 to the Quarterly Report on Form 10-Q (this “Form 10-Q/A”) for the quarter ended September 30, 2021, originally filed with the Securities and Exchange Commission (the “SEC”) on November 4, 2021 (the “Form 10-Q” or “Original Filing”), to make certain changes described below. Restatement On October 29, 2022, the Company, in consultation with the Audit and Finance Committee of its Board of Directors (the “Audit and Finance Committee”), reached a determination that the Company’s consolidated financial statements and related disclosures for the three and nine months ended September 30, 2021 and for the fiscal year ended December 31, 2021 should no longer be relied upon because of certain misstatements contained in those financial statements. The Company has determined that it is appropriate to correct the misstatements in the Company’s previously issued financial statements by amending the Original Filing and its Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (the “2021 Form 10-K”). The Audit and Finance Committee and management also discussed this conclusion with the Company’s independent registered public accounting firm, PricewaterhouseCoopers LLP (“PwC”). As first disclosed in the Company’s Form 12b-25 filed on May 10, 2022, the Audit and Finance Committee has been conducting an internal investigation into certain financial reporting matters. That investigation has been completed, and the results are discussed below in this Explanatory Note. As a result of a separate but concurrent review by the Company of the accounting for various customer incentive arrangements unrelated to the transactions subject to the internal investigation (the “Accounting Review”), management identified errors related to certain customer incentive programs. During the Accounting Review, it was also determined that the Company utilized incorrect accounting and assumptions in the determination of estimates related to its sales returns provisions, warranty reserve provisions and variable consideration. Management identified misstatements for the three and nine months ended September 30, 2021 and for the fiscal year ended December 31, 2021, in each case, that the Company deemed to be material when considered together with certain qualitative and quantitative considerations such as the fact that the misstatements masked a failure to meet internal financial targets and external financial analyst expectations for the three months ended September 30, 2021 and due to the material weaknesses identified through the course of the Audit and Finance Committee’s investigation. For a more detailed discussion of the correction of these accounting errors, refer to Note 1 Significant Accounting Policies and Restatement to the consolidated financial statements of the Company included in Part I, Item 1 of this Form 10-Q/A. For more information about the specific material weaknesses in internal control over financial reporting and the Company’s remedial actions, please see Part I, Item 4 Controls and Procedures of this Form 10-Q/A. Audit and Finance Committee’s Investigation North America Investigation On May 10, 2022, the Company announced that the Audit and Finance Committee, assisted by independent legal counsel and forensic accountants, commenced an internal investigation in March 2022 of allegations regarding certain financial reporting matters submitted by current and former employees of the Company. The Audit and Finance Committee’s investigation was focused on the Company’s use of incentives to sell products to certain distributors in North America in the third and fourth quarters of 2021, whether those incentives were appropriately accounted for, and whether the impact of the sales to which they were applied were adequately disclosed in the Company’s periodic reports filed with the SEC. The Audit and Finance Committee also investigated allegations that certain former members of senior management may have directed the Company’s use of these incentives and other actions to achieve executive compensation targets in 2021. We refer to this portion of the Audit and Finance Committee’s investigation as the North America Investigation. In the North America Investigation, the Audit and Finance Committee concluded that there was no evidence of intentional wrongdoing or fraud. The Audit and Finance Committee determined that certain former members of senior management, including the Company’s former Chief Executive Officer and former Chief Financial Officer, violated provisions of the Company’s Code of Ethics and Business Conduct. In addition, these former members of senior management did not maintain and promote an appropriate control environment focused on compliance in areas of the Company’s business, nor did they sufficiently promote, monitor or enforce adherence to the Code of Ethics and Business Conduct. The North America Investigation found that certain former members of senior management, including the former Chief Executive Officer and the former Chief Financial Officer, created a culture where employees did not feel comfortable raising concerns without fear of retaliation. In addition, the North America Investigation substantiated certain allegations regarding inappropriate tone at the top by the former Chief Executive Officer and the former Chief Financial Officer. The North America Investigation identified instances in which the Company’s distributors in North America were offered incremental incentives, including extended payment terms, to purchase products in order for the Company to attempt to meet certain internal sales targets in the third and fourth quarters of 2021. These incentives were offered in conjunction with net sales transactions amounting to approximately $38 million and $70 million in the third and fourth quarters of 2021, respectively, which in turn contributed to higher levels of distributor inventory at the end of such periods, and lower sales to these distributors in the first and second quarters of 2022. The North America Investigation’s analysis of the incremental incentives and related sales, which included examination of documents supporting the accounting and revenue recognition for both the incentives and related sales, identified two insignificant accrual errors. However, these incremental incentives and the sales to which they applied contributed to the Company’s ability to meet external financial analyst expectations in the third quarter of 2021. The North America Investigation also found that there were inadequate processes in place for approval of these incentives and that the Company also had inadequate processes for maintaining or providing copies of agreements or arrangements with distributors to the accounting department. The North America Investigation noted potential omissions in public disclosures made by the Company regarding the use of these incentives or their potential future impacts in the third and fourth quarters of 2021. However, the North America Investigation did not find evidence that the former Chief Executive Officer and former Chief Financial Officer specifically directed the Company’s use of incentives to achieve executive compensation targets in 2021. Additionally, the investigation noted that the Company’s independent registered accounting firm was not informed of these incremental incentive arrangements in conjunction with the 2021 audit of the consolidated financial statements. Finally, the North America Investigation also identified findings regarding potential control deficiencies. For more information about these material weaknesses and other identified material weaknesses in internal control over financial reporting and the Company’s remedial actions, please see Part I, Item 4 Controls and Procedures of this Form 10-Q/A. Based on the results of the North America Investigation, the Company further analyzed these product shipments and corresponding incentive arrangements between the Company and its distributors and determined that, with the exception of the errors pertaining to the Accounting Review described above, sales were properly recorded in each of the respective periods in accordance with ASC 606, Revenue from Contracts with Customers (“ASC 606”). China Investigation While the North America Investigation was ongoing, the Audit and Finance Committee was informed in June 2022 that the Company had identified higher returns of products from distributors in China during the fourth quarter of 2021 that did not align with historical trends identified through an operational audit executed by the Company’s Corporate Audit department. Accordingly, the Audit and Finance Committee determined that the scope of the internal investigation should be expanded to analyze the increase in returns of products in China during the fourth quarter of 2021. We refer to this portion of the Audit and Finance Committee’s investigation as the China Investigation. The China Investigation found that the Company processed returns and/or exchanges that were not in accordance with the return and/or exchange provisions contained in existing distributor agreements and sales contracts in China. The China Investigation also found that members of the Company’s local commercial team in China failed to provide information requested by the Company’s local accounting organization in connection with the return and/or exchange of products in China during the fourth quarter of 2021. The China Investigation concluded that these employees, as well as the head of the Company’s Asia-Pacific commercial organization, committed intentional wrongdoing by failing to provide requested information to the Company’s local accounting organization, by obstructing the work of the accounting team, and by lacking truthfulness in providing information to the Company and to the Audit and Finance Committee as part of the China Investigation. The China Investigation also determined that these actions by certain members of the Company’s local commercial team in China, as well as the former Chief Financial Officer and the head of the Company’s Asia-Pacific commercial organization, violated the Company’s Code of Ethics and Business Conduct. These employees, including the head of the Company’s Asia-Pacific commercial organization, also did not maintain and promote an appropriate control environment in certain areas of the Company’s business focused on compliance, nor did they sufficiently promote, monitor or enforce adherence to the Company’s Code of Ethics and Business Conduct. The China Investigation also identified concerns regarding control deficiencies, including ineffective communication among the China commercial operations, financial planning & analysis (“FP&A”) and accounting teams, resulting in a heightened risk of incomplete or insufficient information required to maintain accurate books and records related to incentive provisions, specifically concerning expanded concessions regarding the return or exchange of products from distributors. For more information about the specific material weaknesses in internal control over financial reporting and the Company’s remedial actions, please see Part I, Item 4 Controls and Procedures of this Form 10-Q/A. The failure to appropriately account for these returns and/or exchanges and allowing for the product exchanges referred to above resulted in an overstatement of Net sales in the third quarter of 2021 of approximately $4 million which should have been recorded in the fourth quarter of 2021, and is reflected in the restated interim financial statements for the three and nine month periods ended September 30, 2021 included in this form 10-Q/A. For a more detailed discussion of the correction of these accounting errors, refer to Note 1, Significant Accounting Policies and Restatement to the consolidated financial statements of the Company included in Part I, Item 1 of this Form 10-Q/A. Controls and Procedures In connection with the restatement of the financial statements and related disclosures for the three and nine months ended September 30, 2021 and for the fiscal year ended December 31, 2021, management re-evaluated the effectiveness of the Company’s internal control over financial reporting and identified material weaknesses in the Company’s internal control over financial reporting as of September 30, 2021. The Company’s current Chief Executive Officer and current Chief Financial Officer concluded that the Company’s disclosure controls and procedures were not effective as of September 30, 2021, due to the material weaknesses described in Part I, Item 4 of this Form 10-Q/A. Accordingly, the Company is filing this Form 10-Q/A to amend management’s assessment of the Company’s disclosure controls and procedures to conclude that they were not effective due to the identification of material weaknesses as of September 30, 2021. Additionally, the Company is amending Part I, Item 2 Management’s Discussion and Analysis of Financial Condition and Results of Operations to provide additional disclosure regarding the future impact of certain incremental incentive arrangements identified in the North America Investigation. Amendment to Form 10-Q In accordance with Rule 12b-15 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the following Items of the Original Filing have been amended and restated and the complete text of those is set out in this Form 10-Q/A: Part I - Item 1. Financial Statements (unaudited) Part I - Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations Part I - Item 4. Controls and Procedures Part II - Item 1A. Risk Factors Part II - Item 6. Exhibits Please note that the only changes to the Original Filing are those related to the matters described herein and only in the Items listed above. Item 1A "Risk Factors" has been updated to reflect risks as of the date of this amended filing. Except as described above, no changes have been made to the Original Filing, and this Form 10-Q/A does not modify, amend or update any of the other financial information or other information contained in the Original Filing. In addition, in accordance with SEC rules, this Form 10-Q/A includes updated certifications from our Chief Executive Officer and Chief Financial Officer as Exhibits 31.1, 31.2 and 32. Otherwise, the information contained in this Form 10-Q/A is as of the date of the Original Filing and does not reflect any information or events occurring after the date of the Original Filing. Such subsequent information or events include, among others, the information and events described in the Company’s Amendment No. 1 on Form 10-K/A filed on November 7, 2022 (the “Form 10-K/A”), our Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2022 and June 30, 2022, each of which are being filed concurrently with this Form 10-Q/A, and the information and events described in our Current Reports on Form 8-K filed subsequent to the date of the Original Filing. For a description of such subsequent information and events, please read our reports filed pursuant to the Exchange Act subsequent to the date of the Original Filing, which update and supersede certain information contained in the Original Filing and this Form 10-Q/A.
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Document Transition Report	false
Entity File Number	0-16211
Entity Registrant Name	DENTSPLY SIRONA Inc.
Entity Central Index Key	0000818479
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	No
Entity Interactive Data Current	No
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		218,607,026

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Net sales	$ 1,040	$ 883	$ 3,128	$ 2,263
Cost of products sold	471	451	1,385	1,174
Gross profit	569	432	1,743	1,089
Selling, general, and administrative expenses	395	313	1,174	929
Research and development expenses	39	29	122	85
Goodwill impairment	0	0	0	157
Provisions	3	18	11	62
Operating income (loss)	132	72	436	(144)
Other income and expenses:
Interest expense, net	14	14	43	31
Other expense (income), net	5	1	4	4
Income (loss) before income taxes	113	57	389	(179)
Provision (benefit) for income taxes	29	9	97	(1)
Net income (loss)	84	48	292	(178)
Less: Net income attributable to noncontrolling interest	0	1	0	0
Net income (loss) attributable to Dentsply Sirona	$ 84	$ 47	$ 292	$ (178)
Net income (loss) per common share attributable to Dentsply Sirona:
Basic (in dollars per share)	$ 0.39	$ 0.22	$ 1.34	$ (0.81)
Diluted (in dollars per share)	$ 0.38	$ 0.22	$ 1.32	$ (0.81)
Weighted average common shares outstanding:
Basic (in shares)	218.6	218.5	218.6	219.4
Diluted (in shares)	220.5	219.2	220.7	219.4

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 84	$ 48	$ 292	$ (178)
Other comprehensive (loss) income, net of tax:
Foreign currency translation (loss) gain	(68)	84	(130)	40
Net gain (loss) on derivative financial instruments	10	(19)	19	(22)
Pension liability gain	2	2	8	5
Net (decrease) increase in other comprehensive loss	(56)	67	(103)	23
Total comprehensive income (loss)	28	115	189	(155)
Less: Comprehensive income (loss) attributable to noncontrolling interests	0	0	0	0
Total comprehensive income (loss) attributable to Dentsply Sirona	$ 28	$ 115	$ 189	$ (155)

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 281	$ 438
Accounts and notes receivables-trade, net	732	667
Inventories, net	548	476
Prepaid expenses and other current assets	244	217
Total Current Assets	1,805	1,798
Property, plant, and equipment	771	791
Operating lease right-of-use assets, net	183	176
Identifiable intangible assets, net	2,402	2,504
Goodwill	4,000	3,986
Other noncurrent assets	128	95
Total Assets	9,289	9,350
Current Liabilities:
Accounts payable	271	302
Accrued liabilities	725	712
Income taxes payable	52	59
Notes payable and current portion of long-term debt	151	299
Total Current Liabilities	1,199	1,372
Long-term debt	1,925	1,978
Operating lease liabilities	139	130
Deferred income taxes	401	381
Other noncurrent liabilities	562	554
Total Liabilities	4,226	4,415
Equity:
Preferred stock, $1.00 par value; 0.25 million shares authorized; no shares issued	0	0
Common stock, $0.01 par value;	3	3
Capital in excess of par value	6,659	6,604
Retained earnings	1,419	1,198
Accumulated other comprehensive loss	(567)	(464)
Treasury stock, at cost, 45.9 million and 45.8 million shares at September 30, 2021 and December 31, 2020, respectively	(2,454)	(2,409)
Total Dentsply Sirona Equity	5,060	4,932
Noncontrolling interests	3	3
Total Equity	5,063	4,935
Total Liabilities and Equity	$ 9,289	$ 9,350

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Equity:
Preferred stock, par value (in dollars per share)	$ 1	$ 1
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	400,000,000
Common stock, shares issued (in shares)	264,500,000	264,500,000
Common stock, shares outstanding (in shares)	218,600,000	218,700,000
Treasury stock, shares (in shares)	45,900,000	45,800,000

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, 2019	$ 5,048	$ 5,046	$ 3	$ 6,587	$ 1,359	$ (602)	$ (2,301)	$ 2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(134)	(134)			(134)
Other comprehensive income (loss)	(112)	(112)				(112)
Exercise of stock options	4	4					4
Stock based compensation expense	9	9		9
Funding of employee stock purchase plan	2	2		1			1
Treasury shares purchased	(140)	(140)		(28)			(112)
Restricted stock unit distributions	(6)	(6)		(15)			9
Cash dividends	(22)	(22)			(22)
Ending Balance at Mar. 31, 2020	4,649	4,647	3	6,554	1,203	(714)	(2,399)	2
Beginning Balance at Dec. 31, 2019	5,048	5,046	3	6,587	1,359	(602)	(2,301)	2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(178)
Other comprehensive income (loss)	23
Ending Balance at Sep. 30, 2020	4,720	4,718	3	6,592	1,115	(579)	(2,413)	2
Beginning Balance at Mar. 31, 2020	4,649	4,647	3	6,554	1,203	(714)	(2,399)	2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(92)	(91)			(91)			(1)
Other comprehensive income (loss)	68	68				68
Exercise of stock options	1	1					1
Stock based compensation expense	10	10		10
Treasury shares purchased	0			28			(28)
Restricted stock unit distributions	(6)	(6)		(16)			10
Cash dividends	(22)	(22)			(22)
Ending Balance at Jun. 30, 2020	4,608	4,607	3	6,576	1,090	(646)	(2,416)	1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	48	47			47			1
Other comprehensive income (loss)	67	67				67
Stock based compensation expense	17	17		17
Funding of employee stock purchase plan	3	3		1			2
Restricted stock unit distributions	(1)	(1)		(2)			1
Cash dividends	(22)	(22)			(22)
Ending Balance at Sep. 30, 2020	4,720	4,718	3	6,592	1,115	(579)	(2,413)	2
Beginning Balance at Dec. 31, 2020	4,935	4,932	3	6,604	1,198	(464)	(2,409)	3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	112	112			112
Other comprehensive income (loss)	(90)	(90)				(90)
Exercise of stock options	33	33		11			22
Stock based compensation expense	13	13		13
Funding of employee stock purchase plan	3	3		1			2
Treasury shares purchased	(90)	(90)					(90)
Restricted stock unit distributions	(4)	(4)		(11)			7
Cash dividends	(22)	(22)			(22)
Ending Balance at Mar. 31, 2021	4,890	4,887	3	6,618	1,288	(554)	(2,468)	3
Beginning Balance at Dec. 31, 2020	4,935	4,932	3	6,604	1,198	(464)	(2,409)	3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	292
Other comprehensive income (loss)	(103)
Treasury shares purchased	(90)
Ending Balance at Sep. 30, 2021	5,063	5,060	3	6,659	1,419	(567)	(2,454)	3
Beginning Balance at Mar. 31, 2021	4,890	4,887	3	6,618	1,288	(554)	(2,468)	3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	96	96			96
Other comprehensive income (loss)	43	43				43
Exercise of stock options	12	12		3			9
Stock based compensation expense	19	19		19
Restricted stock unit distributions	(1)	(1)		(2)			1
Cash dividends	(25)	(25)			(25)
Ending Balance at Jun. 30, 2021	5,034	5,031	3	6,638	1,359	(511)	(2,458)	3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	84	84			84
Other comprehensive income (loss)	(56)	(56)				(56)
Exercise of stock options	1	1					1
Stock based compensation expense	23	23		23
Funding of employee stock purchase plan	2	2		1			1
Restricted stock unit distributions	(2)	(2)		(4)			2
Restricted stock unit dividends	0			1	(1)
Cash dividends	(23)	(23)			(23)
Ending Balance at Sep. 30, 2021	$ 5,063	$ 5,060	$ 3	$ 6,659	$ 1,419	$ (567)	$ (2,454)	$ 3

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 0.11	$ 0.11	$ 0.1	$ 0.1	$ 0.1	$ 0.1

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income (loss)	$ 292	$ (178)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	94	104
Amortization of intangible assets	167	143
Goodwill impairment	0	157
Indefinite-lived intangible asset impairment	0	39
Deferred income taxes	(11)	(53)
Stock based compensation expense	54	36
Other non-cash expense	13	7
(Gain) loss on sale of non-strategic businesses and product lines	(14)	0
Changes in operating assets and liabilities, net of acquisitions:
Accounts and notes receivable-trade, net	(89)	150
Inventories, net	(88)	73
Prepaid expenses and other current assets	(24)	50
Other noncurrent assets	(12)	8
Accounts payable	(45)	(62)
Accrued liabilities	70	(66)
Income taxes	6	(9)
Other noncurrent liabilities	22	(14)
Net cash provided by operating activities	435	385
Cash flows from investing activities:
Capital expenditures	(101)	(60)
Cash paid for acquisitions of businesses and equity investments, net of cash acquired	(248)	(2)
Cash received on sale of non-strategic businesses or product lines	27	0
Cash received on derivative contracts	1	58
Cash paid on derivative contracts	0	(1)
Proceeds from sale of property, plant, and equipment	2	0
Net cash used in investing activities	(319)	(5)
Cash flows from financing activities:
Proceeds (repayments) on short-term borrowings, net	147	(1)
Cash paid for treasury stock	(90)	(140)
Cash dividends paid	(68)	(66)
Cash paid for acquisition of noncontrolling interest of consolidated subsidiary	0	(2)
Proceeds from long-term borrowings, net of deferred financing costs	15	1,449
Repayments on long-term borrowings, net	(297)	(701)
Deferred financing costs	0	(6)
Proceeds from exercised stock options	47	6
Cash paid on derivative contracts	0	(31)
Other financing activities, net	(11)	(17)
Net cash (used in) provided by financing activities	(257)	491
Effect of exchange rate changes on cash and cash equivalents	(16)	(4)
Net (decrease) increase in cash and cash equivalents	(157)	867
Cash and cash equivalents at beginning of period	438	405
Cash and cash equivalents at end of period	$ 281	$ 1,272

SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES AND RESTATEMENT

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 Amendment No. 1 on Form 10-K/A filed on November 7, 2022 (the “Form 10-K/A”) to amend its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, originally filed with the Securities and Exchange Commission on March 1, 2022, to make certain changes described below.

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/A, except as may be indicated below. Certain prior period amounts within the Consolidated Statements of Operations have been reclassified in order to conform with the current year presentation of separately reported Research and development expenses.

Restatement and Other Corrections of Previously Issued Consolidated Financial Statements

Subsequent to the issuance of the Company’s consolidated financial statements as of September 30, 2021 and for each of the three and nine months periods ended therein, and also the consolidated financial statements as of December 31, 2021 and 2020 and for each of the three fiscal years in the period ended December 31, 2021 (collectively, the “previously issued financial statements”), management identified errors related to certain customer incentive programs. It was also determined that the Company utilized incorrect accounting and assumptions in the determination of certain estimates related to its sales return provisions, warranty reserve provisions and variable consideration. Additionally, the Company identified an error related to a failure to appropriately account for certain returns and/or exchanges specific to sales transactions in China as a result of an investigation by the Company’s Audit and Finance Committee. Allowing for the product exchanges referred to above resulted in an overstatement of net sales in the third quarter of 2021 of approximately $4 million which should have been recorded in the fourth quarter of 2021. In conjunction with making these corrections, the Company has also made certain other restatements and revisions for previously identified errors. As a result of these collective errors, Net sales and Net income were overstated in the Company’s financial statements for the nine month period ended September 30, 2021 by approximately $35 million and $27 million, respectively, with errors to both Net sales and Net income (loss) for the three months ended September 30, 2021 and 2020 as shown in the tables below. Additionally, the correction of errors pertaining to periods prior to 2020 required an adjustment to opening retained earnings at January 1, 2020 of $45 million as reflected in the Consolidated Statements of Equity. Those errors related primarily to the timing, recognition, and estimation of variable consideration associated with certain sales orders in the historical periods. These errors were deemed to be material when considered together with certain qualitative and quantitative considerations such as the fact that the misstatements masked a failure to meet internal financial targets and external financial analyst expectations for the three months ended September 30, 2021 and due to the material weaknesses identified through the course of the Audit and Finance Committee’s investigation.

Management has therefore restated for the three and nine months ended September 30, 2021 and revised for the three and nine months ended September 30, 2020, the accompanying consolidated financial statements and related notes included herein to correct these accounting errors for all periods presented, as well as the accompanying footnotes affected by the accounting errors, as shown below. The Company has also updated all accompanying footnotes and disclosures affected by the restatements and revisions, respectively, within Note 2, Revenue, Note 4, Comprehensive Income (Loss), Note 5, Earnings Per Common Share, Note 7, Segment Information, Note 8, Inventories, Net, and Note 11, Income Taxes.

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


CONSOLIDATED STATEMENTS OF OPERATIONS
	Three Months Ended September 30, 2021						Three Months Ended September 30, 2020
(in millions, except per share amounts)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised

Net sales	$	1,069	$	(29)	$	1,040	$	895	$	(12)	$	883
Cost of products sold	478		(7)		471		453		(2)		451

Gross profit	591		(22)		569		442		(10)		432

Selling, general, and administrative expenses	394		1		395		315		(2)		313
Research and development expenses	35		4		39		27		2		29



Operating income	159		(27)		132		82		(10)		72


Interest expense, net	13		1		14		14		—		14
Other expense (income), net	8		(3)		5		1		—		1

Income before income taxes	138		(25)		113		67		(10)		57
Provision for income taxes	35		(6)		29		13		(4)		9


Net income	103		(19)		84		54		(6)		48



Net income attributable to Dentsply Sirona	$	103	$	(19)	$	84	$	53	$	(6)	$	47

Net income per common share attributable to Dentsply Sirona:
Basic	$	0.47	$	(0.08)	$	0.39	$	0.25	$	(0.03)	$	0.22
Diluted	$	0.47	$	(0.09)	$	0.38	$	0.25	$	(0.03)	$	0.22


CONSOLIDATED STATEMENTS OF OPERATIONS
	Nine Months Ended September 30, 2021						Nine Months Ended September 30, 2020
(in millions, except per share amounts)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised

Net sales	$	3,163	$	(35)	$	3,128	$	2,260	$	3	$	2,263
Cost of products sold	1,395		(10)		1,385		1,174		—		1,174

Gross profit	1,768		(25)		1,743		1,086		3		1,089

Selling, general and administrative expenses	1,177		(3)		1,174		935		(6)		929
Research and development expenses	112		10		122		79		6		85



Operating income (loss)	468		(32)		436		(147)		3		(144)


Interest expense, net	43		—		43		32		(1)		31


Income (loss) before income taxes	421		(32)		389		(183)		4		(179)
Provision (benefit) for income taxes	102		(5)		97		(1)		—		(1)


Net income (loss)	319		(27)		292		(182)		4		(178)



Net income (loss) attributable to Dentsply Sirona	$	319	$	(27)	$	292	$	(182)	$	4	$	(178)

Net income (loss) per common share attributable to Dentsply Sirona:
Basic	$	1.46	$	(0.12)	$	1.34	$	(0.83)	$	0.02	$	(0.81)
Diluted	$	1.45	$	(0.13)	$	1.32	$	(0.83)	$	0.02	$	(0.81)


CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
	Three Months Ended September 30, 2021						Three Months Ended September 30, 2020
(in millions)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised

Net income	$	103	$	(19)	$	84	$	54	$	(6)	$	48







Total comprehensive income	47		(19)		28		121		(6)		115



Comprehensive income attributable to Dentsply Sirona	$	47	$	(19)	$	28	$	121	$	(6)	$	115


CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
	Nine Months Ended September 30, 2021						Nine Months Ended September 30, 2020
(in millions)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised

Net income (loss)	$	319	$	(27)	$	292	$	(182)	$	4	$	(178)








Total comprehensive income (loss)	216		(27)		189		(159)		4		(155)



Comprehensive income (loss) attributable to Dentsply Sirona	$	216	$	(27)	$	189	$	(159)	$	4	$	(155)


CONSOLIDATED BALANCE SHEETS
	September 30, 2021						December 31, 2020
(in millions)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised




Accounts and notes receivable-trade, net	$	748	$	(16)	$	732	$	673	$	(6)	$	667
Inventories, net	532		16		548		466		10		476
Prepaid expenses and other current assets	243		1		244		214		3		217
Total Current Assets	1,804		1		1,805		1,791		7		1,798





Other noncurrent assets	128		—		128		94		1		95
Total Assets	9,288		1		9,289		9,342		8		9,350



Accounts payable	276		(5)		271		305		(3)		302
Accrued liabilities	641		84		725		653		59		712
Income taxes payable	58		(6)		52		60		(1)		59

Total Current Liabilities	1,126		73		1,199		1,317		55		1,372



Deferred income taxes	413		(12)		401		393		(12)		381
Other noncurrent liabilities	560		2		562		554		—		554
Total Liabilities	4,163		63		4,226		4,372		43		4,415









Retained earnings	1,481		(62)		1,419		1,233		(35)		1,198


Total Dentsply Sirona Equity	5,122		(62)		5,060		4,967		(35)		4,932


Total Equity	5,125		(62)		5,063		4,970		(35)		4,935
Total Liabilities and Equity	9,288		1		9,289		9,342		8		9,350


CONSOLIDATED STATEMENT OF CASH FLOWS
	Nine Months Ended September 30, 2021						Nine Months Ended September 30, 2020
(in millions)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised

Cash flows from operating activities:
Net income (loss)	$	319	$	(27)	$	292	$	(182)	$	4	$	(178)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Other non-cash expense (income)	12		1		13		9		(2)		7
Changes in operating assets and liabilities, net of acquisitions:
Accounts and notes receivable-trade, net	(98)		9		(89)		149		1		150
Inventories, net	(82)		(6)		(88)		74		(1)		73
Prepaid expenses and other current assets, net	(27)		3		(24)		50		—		50
Accounts payable	(39)		(6)		(45)		(65)		3		(62)
Accrued liabilities	41		29		70		(73)		7		(66)
Income taxes	11		(5)		6		(10)		1		(9)
Other noncurrent liabilities	20		2		22		(14)		—		(14)
Net cash provided by operating activities	435		—		435		372		13		385
Cash flows from financing activities:
Other financing activities, net	(11)		—		(11)		(4)		(13)		(17)
Net cash (used in) provided by financing activities	(257)		—		(257)		504		(13)		491

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 Net sales and expense during the reporting period. Actual results could differ materially from those estimates.

Specifically, for the nine months ended September 30, 2021, some of these estimates and assumptions continue to be based on an ongoing evaluation of expected future impacts from the COVID-19 pandemic. 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 in future periods 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, dental practice safety protocols which reduce patient traffic, and some lingering patient reluctance to seek dental care. The Company’s 2020 results were materially impacted by the preventative measures implemented at the outset of the pandemic, including the closure or reduced operations of dental practices. During 2021, demand for the Company’s products has largely recovered, although impacts from the pandemic continue to be experienced as evidenced by the more recent shortages and higher prices of raw materials such as electronic components, higher related transportation costs, and labor shortages. In the current year, the Company has experienced supply chain constraints, which has impacted its ability to timely produce and deliver certain products, and has also resulted in increases in shipping rates. To address these issues, the Company has taken steps to mitigate the impact of these trends, including continued emphasis on cost reduction and supply chain efficiencies. However, uncertainties remain regarding how long these impacts will continue, whether customer demand will fully return to pre-COVID-19 levels upon lifting of remaining government restrictions, or whether future variants of the virus may have an adverse impact on demand in affected markets.

Inventory

As of September 30, 2021, all of the Company’s inventories were determined by the first-in, first-out (“FIFO”) or average cost methods. As of the end of the first quarter of 2021, the Company had $1 million of inventories accounted for under the last-in first-out (“LIFO”) method of inventory costing. Effective as of the beginning of the second quarter, the method of accounting for these inventories was changed from LIFO to FIFO. This change in accounting is preferable as the value of inventory for which cost was previously determined using a LIFO cost flow assumption has declined from prior years due to changes in the business, it allows for a more consistent methodology to be utilized across the Company, and provides improved comparability with industry peers. The change in accounting principle was recognized during the second quarter of 2021 by adjusting these inventories to cost as determined using the FIFO method, resulting in an increase in inventories of $4 million and a corresponding reduction to Cost of products sold in the Company’s Consolidated Statements of Operations. The impact of this change was not material to the Company’s financial position as of December 31, 2020, or the Company’s results of operations for any previously reported prior periods nor is the cumulative effect of the change material to the results of operations for the six months ended June 30, 2021. Therefore, prior period amounts have not been retrospectively adjusted.

Goodwill & Intangible Assets

Effective 2021 and prospectively, the Company is performing its required annual goodwill impairment test as of April 1 rather than as of April 30 which was the Company’s previous practice. The Company believes this change is preferable as it more closely aligns with the timing of the Company’s strategic business planning process. This change did not result in any delay, acceleration or avoidance of impairment. Furthermore, a retrospective application to prior periods is impracticable as the Company is unable to objectively determine, without the use of hindsight, the assumptions which would be used in earlier periods.

Accounting Pronouncements Not Yet Adopted

In March 2020, the FASB issued ASU No. 2020-04 “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting”, which was subsequently amended by ASU No. 2021-01 “Reference Rate Reform (Topic 848): Scope” in January 2021. The new standard provides optional expedients and exceptions to contracts, hedging relationships, and other transactions that reference the London Interbank Offer Rate (“LIBOR”) or another rate expected to be discontinued due to the reference rate reform. This standard is permitted to be adopted any time through December 31, 2022, and does not apply to contract modifications made or hedging relationships entered into or evaluated after December 31, 2022. The Company is currently assessing the impact that this standard will have on its financial position, results of operations, cash flows, and disclosures.

REVENUE

9 Months Ended

Sep. 30, 2021

Revenue from Contract with Customer [Abstract]

REVENUE

Revenues are derived primarily from the sale of dental equipment and dental and healthcare consumable products. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing services.

Net sales disaggregated by product category for the three and nine months ended September 30, 2021 and 2020 were as follows:


	Three Months Ended				Nine Months Ended
(in millions)	2021		2020		2021		2020

Equipment & Instruments	$	176	$	152	$	523	$	373
CAD/CAM	147		97		403		296
Orthodontics	63		52		212		119
Implants	150		126		461		329
Healthcare	76		70		225		210
Technology & Equipment segment net sales	$	612	$	497	$	1,824	$	1,327

Endodontic & Restorative	$	313	$	268	$	953	$	642
Other Consumables	115		118		351		294
Consumables segment net sales	$	428	$	386	$	1,304	$	936

Total net sales	$	1,040	$	883	$	3,128	$	2,263

Net sales disaggregated by geographic region for the three and nine months ended September 30, 2021 and 2020 were as follows:


	Three Months Ended				Nine Months Ended
(in millions)	2021		2020		2021		2020

United States	$	384	$	312	$	1,094	$	758
Europe	393		346		1,239		934
Rest of World	263		225		795		571

Total net sales	$	1,040	$	883	$	3,128	$	2,263

Contract Assets and Liabilities

The Company normally does not have contract assets in the course of its business. Contract liabilities, which represent billings in excess of revenue recognized, are primarily related to advanced billings for customer aligner treatment where the performance obligation has not yet been fulfilled. The Company had $59 million and $53 million of deferred revenue recorded in Accrued liabilities in the Consolidated Balance Sheets at September 30, 2021 and December 31, 2020, respectively. Prior year deferred revenue of approximately $35 million was recognized in the current year. The Company expects to recognize significantly all of the remaining deferred revenue within the next twelve months.

Allowance for Doubtful Accounts

Accounts and notes receivables-trade, net are stated net of allowances for doubtful accounts and trade discounts, which were $14 million at September 30, 2021 and $18 million at December 31, 2020. For the three months and nine months ended September 30, 2021, changes to the provision for doubtful accounts including write-offs of accounts receivable that were previously reserved were insignificant. For the three months ended September 30, 2020 changes to the provision were insignificant. For the nine months ended September 30, 2020, the Company wrote-off $10 million of accounts receivable that were previously reserved and increased the provision for doubtful accounts by $2 million. Changes to this provision are included in Selling, general, and administrative expenses in the Consolidated Statements of Operations.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

STOCK COMPENSATION

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

STOCK COMPENSATION

The amounts of stock compensation expense recorded in the Company’s Consolidated Statements of Operations for the three and nine months ended September 30, 2021 and 2020 were as follows:


	Three Months Ended				Nine Months Ended
(in millions)	2021		2020		2021		2020

Cost of products sold	$	2	$	—	$	4	$	1
Selling, general, and administrative expense	19		15		48		33
Research and development expense	1		1		2		1
Total stock based compensation expense	$	22	$	16	$	54	$	35

Related deferred income tax benefit	$	2	$	2	$	6	$	4

COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

COMPREHENSIVE INCOME (LOSS)

Changes in Accumulated other comprehensive income (loss) (“AOCI”), net of tax, by component for the nine months ended September 30, 2021 and 2020 were as follows:



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

Balance, net of tax, at December 31, 2020	$	(187)	$	(25)	$	(119)	$	(133)	$	(464)
Other comprehensive (loss) income before reclassifications and tax impact	(74)		(6)		9		3		(68)
Tax (expense) benefit	(25)		2		(2)		(1)		(26)
Other comprehensive (loss) income, net of tax, before reclassifications	(99)		(4)		7		2		(94)
Amounts reclassified from accumulated other comprehensive income, net of tax	—		2		—		2		4
Net (decrease) increase in other comprehensive loss	(99)		(2)		7		4		(90)


Balance, net of tax, at March 31, 2021	$	(286)	$	(27)	$	(112)	$	(129)	$	(554)
Other comprehensive income before reclassifications and tax impact	31		3		1		—		35
Tax benefit (expense)	6		(2)		(1)		—		3
Other comprehensive income, net of tax, before reclassifications	37		1		—		—		38
Amounts reclassified from accumulated other comprehensive income, net of tax	—		3		—		2		5
Net increase in other comprehensive income	37		4		—		2		43


Balance, net of tax, at June 30, 2021	$	(249)	$	(23)	$	(112)	$	(127)	$	(511)
Other comprehensive (loss) income before reclassifications and tax impact	(59)		6		3		—		(50)
Tax expense	(9)		(1)		(1)		—		(11)
Other comprehensive (loss) benefit, net of tax, before reclassifications	(68)		5		2		—		(61)
Amounts reclassified from accumulated other comprehensive income, net of tax	—		3		—		2		5
Net increase in other comprehensive (loss) income	(68)		8		2		2		(56)


Balance, net of tax, at September 30, 2021	$	(317)	$	(15)	$	(110)	$	(125)	$	(567)


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

Balance, net of tax, at December 31, 2019	$	(370)	$	(11)	$	(101)	$	(120)	$	(602)
Other comprehensive (loss) income before reclassifications and tax impact	(117)		(16)		25		—		(108)
Tax (expense) benefit	(2)		4		(8)		—		(6)
Other comprehensive (loss) income, net of tax, before reclassifications	(119)		(12)		17		—		(114)
Amounts reclassified from accumulated other comprehensive income, net of tax	—		—		—		2		2
Net (decrease) increase in other comprehensive income	(119)		(12)		17		2		(112)
Balance, net of tax, at March 31, 2020	$	(489)	$	(23)	$	(84)	$	(118)	$	(714)
Other comprehensive income (loss) before reclassifications and tax impact	77		—		(15)		—		62
Tax (expense) benefit	(2)		—		7		—		5
Other comprehensive income (loss), net of tax, before reclassifications	75		—		(8)		—		67
Amounts reclassified from accumulated other comprehensive income, net of tax	—		—		—		1		1
Net increase (decrease) in other comprehensive income	75		—		(8)		1		68

Balance, net of tax, at June 30, 2020	$	(414)	$	(23)	$	(92)	$	(117)	$	(646)
Other comprehensive income (loss) before reclassifications and tax impact	67		(3)		(17)		—		47
Tax benefit (expense)	17		(2)		2		—		17
Other comprehensive income (loss), net of tax, before reclassifications	84		(5)		(15)		—		64
Amounts reclassified from accumulated other comprehensive income, net of tax	—		1		—		2		3
Net increase (decrease) in other comprehensive income	84		(4)		(15)		2		67
Balance, net of tax, at September 30, 2020	$	(330)	$	(27)	$	(107)	$	(115)	$	(579)

At September 30, 2021 and December 31, 2020, the cumulative tax adjustments were $182 million and $216 million, respectively, primarily related to foreign currency translation gains and losses.

The cumulative foreign currency translation adjustments included translation losses of $113 million and $25 million at September 30, 2021 and December 31, 2020, respectively, and cumulative losses on loans designated as hedges of net investments of $204 million and $162 million, respectively. These foreign currency translation losses were partially offset by movements on derivative financial instruments.

Reclassifications out of AOCI to the Consolidated Statements of Operations for the three and nine months ended September 30, 2021 and 2020 were insignificant.

EARNINGS PER COMMON SHARE

9 Months Ended

Sep. 30, 2021

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, 2021 and 2020 were as follows:


Basic Earnings (Loss) Per Common Share	Three Months Ended				Nine Months Ended
(in millions, except per share amounts)	2021		2020		2021		2020

Net income (loss) attributable to Dentsply Sirona	$	84	$	47	$	292	$	(178)

Weighted average common shares outstanding	218.6		218.5		218.6		219.4

Earnings (loss) per common share - basic	$	0.39	$	0.22	$	1.34	$	(0.81)

Diluted Earnings (Loss) Per Common Share	Three Months Ended				Nine Months Ended
(in millions, except per share amounts)	2021		2020		2021		2020

Net income (loss) attributable to Dentsply Sirona	$	84	$	47	$	292	$	(178)

Weighted average common shares outstanding	218.6		218.5		218.6		219.4
Incremental weighted average shares from assumed exercise of dilutive options from stock-based compensation awards	1.9		0.7		2.1		—
Total weighted average diluted shares outstanding	220.5		219.2		220.7		219.4

Earnings (loss) per common share - diluted	$	0.38	$	0.22	$	1.32	$	(0.81)

For the three and nine months ended September 30, 2021, the Company excluded from the computation of weighted average diluted shares outstanding 0.9 million and 0.9 million, respectively, of equivalent shares of common stock from stock options and RSUs because their effect would be antidilutive. For the three and nine months ended September 30, 2020, the Company excluded 3.5 million and 3.2 million, respectively, of equivalent shares of common stock outstanding from stock options and RSUs because their effect would be antidilutive.

The calculation of weighted average diluted common shares outstanding excluded 0.9 million of potentially diluted common shares because the Company reported a net loss for the nine months ended September 30, 2020.

During the nine months ended September 30, 2021, the Company repurchased approximately 1.5 million shares pursuant to its open market shares repurchase plan for a net cost of $90 million at an average price of $60.62.

On July 28, 2021, the Board of Directors of the Company approved an increase in the value of shares of common stock that may be repurchased under the share repurchase program, up to $1.0 billion. Share repurchases may be made through open market purchases, Rule 10b5-1 plans, accelerated share repurchases, privately negotiated transactions or other transactions in such amounts and at such times as the Company deems appropriate based upon prevailing market and business conditions and other factors.

BUSINESS COMBINATIONS

9 Months Ended

Sep. 30, 2021

Business Combination and Asset Acquisition [Abstract]

BUSINESS COMBINATIONS

Acquisitions

2021 Transactions

On July 1, 2021, the effective date of the transaction, the Company paid $7 million to acquire the remaining interest in the dental business of a partially owned affiliate based in Switzerland that primarily develops highly specialized software with a focus on CAD/CAM systems. The acquisition is expected to further accelerate the development of the Company’s specialized software related to CAD/CAM systems.

The preliminary fair values of the assets acquired and liabilities assumed in connection with the acquisition of the affiliate included $4 million of Other current assets, $3 million of Intangible assets and $1 million of Other long-term liabilities. The purchase price and the $4 million fair value of the previously-held interest in the entity prior to the acquisition has been allocated on the basis of the preliminary estimates of fair values of assets acquired and liabilities assumed, resulting in the recording of $5 million in goodwill. This goodwill is considered to represent the value associated with the acquired workforce and synergies the two companies anticipate realizing as a combined company and is not expected to be deductible for tax purposes. Management is continuing to finalize its valuation of certain assets including other intangible assets and will conclude its valuation no later than one year from the acquisition date.

Identifiable intangible assets acquired were as follows:

Weighted Average

Useful Life

(in millions, except for useful life)

Amount

(in years)

In-process R&D

Indefinite

Total

On June 1, 2021, the effective date of the transaction, the Company paid $132 million to acquire substantially all of the assets of Propel Orthodontics LLC, a privately-held company based in New York and California. Propel Orthodontics manufactures and sells orthodontic devices and provides in-office and at-home orthodontic accessory devices to orthodontists and their patients primarily within the clear aligner market. The acquisition is expected to further accelerate the growth and profitability of the Company’s combined clear aligners business.

The preliminary fair values of the assets acquired and liabilities assumed in connection with the Propel Orthodontics acquisition were as follows:


(in millions)


Other current assets	$	4
Intangible assets	66
Current liabilities	(1)
Net assets acquired	69
Goodwill	63
Purchase consideration	$	132

The purchase price has been allocated on the basis of the preliminary estimates of fair values of assets acquired and liabilities assumed, resulting in the recording of $63 million in goodwill, which is considered to represent the value associated with the acquired workforce and synergies the two companies anticipate realizing as a combined company. The goodwill is expected to be deductible for tax purposes. Management is continuing to finalize its valuation of certain assets including other intangible assets and will conclude its valuation no later than one year from the acquisition date. Measurement period adjustments made to the fair values of the assets acquired and liabilities assumed during three months ended September 30, 2021 were immaterial to the financial statements, resulting in a reduction to goodwill of $2 million.

Identifiable intangible assets acquired were as follows:


			Weighted Average
			Useful Life
(in millions, except for useful life)	Amount		(in years)

Developed technology	$	66	10

Total	$	66

On January 21, 2021, the effective date of the transaction, the Company paid $94 million with the potential for additional earn-out provision payments of up to $10 million, to acquire 100% of the outstanding shares of Datum Dental, Ltd., a privately-held producer and distributor of specialized regenerative dental material based in Israel. The fair value of the earn-out provision has been valued at $9 million as of the transaction date, resulting in a total purchase price of $103 million.

The preliminary fair values of the assets acquired and liabilities assumed in connection with the Datum acquisition were as follows:


(in millions)

Cash and cash equivalents	$	2
Other current assets	2
Intangible assets	76
Current liabilities	(2)
Other long-term assets (liabilities), net	(14)
Net assets acquired	64
Goodwill	39
Purchase consideration	$	103

The purchase price has been allocated on the basis of the preliminary estimates of fair values of assets acquired and liabilities assumed, resulting in the recording of $39 million in goodwill, which is considered to represent the value associated with the acquired workforce and synergies the two companies anticipate realizing as a combined company. The goodwill is not deductible for tax purposes. Measurement period adjustments made to the fair values of the assets acquired and liabilities assumed during the first nine months of 2021 were immaterial to the financial statements, resulting in an increase to goodwill of $6 million. Management is continuing to finalize its valuation of certain assets including other intangible assets and will conclude its valuation no later than one year from the acquisition date.

Identifiable intangible assets acquired were as follows:


			Weighted Average
			Useful Life
(in millions, except for useful life)	Amount		(in years)

Developed technology	$	66	15
In-process R&D	10		Indefinite
Total	$	76

2020 Transactions

On December 31, 2020, the effective date of the transaction, the Company acquired 100% of the outstanding interests of Straight Smile, LLC (“Byte”), a privately-held company, for approximately $1.0 billion using cash on hand. Byte is a doctor-directed, direct-to-consumer, clear aligner business. The acquisition is expected to enhance scale and accelerate the growth and profitability of the Company’s combined clear aligners business.

The preliminary fair values of the assets acquired and liabilities assumed in connection with the Byte acquisition for the year ended December 31, 2020 were as follows:


(in millions)

Cash and cash equivalents	$	14
Current assets	17
Intangible assets	416
Current liabilities	(28)

Net assets acquired	419
Goodwill	626
Purchase consideration	$	1,045

The purchase price has been allocated on the basis of the preliminary estimates of fair values of assets acquired and liabilities assumed, which resulted in the recording of $626 million in goodwill. The amount of goodwill is considered to represent the value associated with the acquired workforce and synergies the two companies anticipate realizing as a combined company, including alignment with the Company’s existing clear aligner business, and is deductible for tax purposes. Measurement period adjustments made to the fair values of the assets acquired and liabilities assumed during the first nine months of 2021 were immaterial to the financial statements, resulting in a reduction to goodwill of $5 million.

Intangible assets acquired were as follows:


			Weighted Average
			Useful Life
(in millions, except for useful life)	Amount		(in years)

Non-compete agreements	$	16	5
Technology know-how	210		10
Tradenames and trademarks	190		20
Total	$	416

The results of operations for each of the acquired businesses above upon the effective date of each transaction have been included in the accompanying financial statements. These results, as well as the historical results for the above acquired businesses for the periods ended September 30, 2021 and 2020, are not material in relation to the Company’s net sales and earnings for those periods. The Company therefore does not believe these acquisitions represent material transactions either individually or in the aggregate requiring the supplemental pro-forma information prescribed by ASC 805 and accordingly, this information is not presented.

Investments in Affiliates

On June 4, 2021, the effective date of the transaction, the Company paid $16 million to acquire a minority interest in a U,K.-based, privately-held provider of healthcare consumables. The Company records this investment and subsequent profit or losses under equity method accounting within Other noncurrent assets.

Divestitures

On April 1, 2021, the Company disposed of certain orthodontics businesses based in Japan previously included as part of the Technologies and Equipment segment in exchange for a cash receipt of $8 million. The divestiture resulted in an immaterial loss recorded in Other expense (income), net in the Consolidated Statements of Operations for the nine months ended September 30, 2021.

On February 1, 2021, the Company disposed of an investment casting business previously included as part of the Consumables segment in exchange for a cash receipt of $19 million. The divestiture resulted in a pre-tax gain of $13 million recorded in Other expense (income), net in the Consolidated Statements of Operations for the nine months ended September 30, 2021.

SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

SEGMENT INFORMATION

The Company’s two operating segments are organized primarily by product and generally have overlapping geographical presence, customer bases, distribution channels, and regulatory oversight. These operating segments also comprise the Company’s reportable segments in accordance with how the Company’s chief operating decision-maker regularly reviews financial results and uses this information to evaluate the Company’s performance and allocate resources.

The Company evaluates performance of the segments based on net sales and adjusted operating income. 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, net, other expense (income), net, amortization of intangible assets and depreciation resulting from the fair value step-up of property, plant, and equipment from acquisitions.

A description of the products and services provided within each of the Company’s two reportable segments is provided below.

Technologies & Equipment

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

Consumables

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

The Company’s segment information for the three and nine months ended September 30, 2021 and 2020 was as follows:

Net Sales


	Three Months Ended				Nine Months Ended
(in millions)	2021		2020		2021		2020

Technologies & Equipment	$	612	$	497	$	1,824	$	1,327
Consumables	428		386		1,304		936
Total net sales	$	1,040	$	883	$	3,128	$	2,263

Segment Adjusted Operating Income


	Three Months Ended				Nine Months Ended
(in millions)	2021		2020		2021		2020

Technologies & Equipment (a)	$	134	$	122	$	391	$	231
Consumables (a)	123		114		426		166
Segment adjusted operating income (loss)	257		236		817		397

Reconciling items expense (income):
All other (b)	67		95		199		174
Goodwill impairment	—		—		—		157
Restructuring and other costs	3		18		11		62
Interest expense, net	14		14		43		31

Other expense (income), net	5		1		4		4
Amortization of intangible assets	56		49		167		143
Depreciation and other adjustments resulting from the fair value step-up of property, plant, and equipment from business combinations	(1)		2		4		5
Income (loss) before income taxes	$	113	$	57	$	389	$	(179)

(a) Certain charges related to discontinuance of product lines which were previously reported in adjusted operating income for the reportable segments, $33 million and $34 million for the three and nine months ended September 30, 2020, respectively, have been reclassified to the “All other” category to conform to current year presentation and the Company’s internal reporting in the Chief Operating Decision Maker package. These amounts are not material to the measure of segment results for the years presented.

(b) 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=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (e)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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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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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

INVENTORIES

9 Months Ended

Sep. 30, 2021

Inventory Disclosure [Abstract]

INVENTORIES

Inventories, net were as follows:


(in millions)	September 30, 2021		December 31, 2020

Finished goods	$	343	$	274
Work-in-process	73		68
Raw materials and supplies	132		134
Inventories, net	$	548	$	476

The Company’s inventory reserve was $89 million and $117 million at September 30, 2021 and December 31, 2020, respectively. Inventories are stated at the lower of cost and net realizable value.

RESTRUCTURING AND OTHER COSTS

9 Months Ended

Sep. 30, 2021

Restructuring and Related Activities [Abstract]

RESTRUCTURING AND OTHER COSTS

During the three and nine months ended September 30, 2021, the Company recorded net restructuring and other costs of $6 million and $14 million, respectively, which consists of severance and other restructuring costs of $6 million and $17 million, respectively, offset by adjustments to inventory reserves of $3 million for the nine months ended September 30, 2021.

During the three and nine months ended September 30, 2020, the Company recorded restructuring and other costs of $52 million and $96 million, respectively, which consists of inventory write-downs of $25 million for both the three and nine months ended, severance costs of $16 million and $21 million, respectively, accelerated depreciation of $9 million for both the three and nine months ended, and asset impairments of $2 million and $41 million, respectively.

The details of total restructuring and other costs for the three and nine months ended September 30, 2021 and 2020 were as follows:


Affected Line Item in the Consolidated Statements of Operations	Three Months Ended				Nine Months Ended
(in millions)	2021		2020		2021		2020

Cost of products sold	$	—	$	33	$	(3)	$	33
Selling, general, and administrative expenses	3		1		6		1
Restructuring and other costs	3		18		11		62

Total restructuring and other costs	$	6	$	52	$	14	$	96

Restructuring Programs and Accruals

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 “2020 Plan”). 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 $60 million to $70 million for inventory write-downs, severance costs, fixed asset write-offs, and other facility closure costs. The Company recorded total expenses of approximately $58 million related to these actions which consists primarily of inventory write-downs of approximately $28 million, accelerated depreciation of approximately $14 million, and severance costs of approximately $11 million. For the nine months ended September 30, 2021, the Company made a $3 million adjustment related to inventory reserves and recorded severance costs of $2 million. The Company expects nearly all of the remaining restructuring charges to be completed by the first quarter of 2022.

The Company’s restructuring accruals at September 30, 2021 were as follows:


	Severance
(in millions)	2019 and Prior Plans		2020 Plans		2021 Plans		Total

Balance at December 31, 2020	$	12	$	17	$	—	$	29
Provisions	2		4		7		13
Amounts applied	(8)		(11)		(3)		(22)
Change in estimates	(1)		(5)		—		(6)
Balance at September 30, 2021	$	5	$	5	$	4	$	14


	Other Restructuring Costs
(in millions)	2019 and Prior Plans		2020 Plans		2021 Plans		Total

Balance at December 31, 2020	$	3	$	2	$	—	$	5
Provisions	2		3		3		8
Amounts applied	(2)		(4)		(2)		(8)
Change in estimate	—		(1)		—		(1)
Balance at September 30, 2021	$	3	$	—	$	1	$	4

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


(in millions)	December 31, 2020		Provisions		Amounts Applied		Change in Estimates		September 30, 2021

Technologies & Equipment	$	16	$	6	$	(13)	$	(5)	$	4
Consumables	17		12		(14)		(2)		13
All Other	1		3		(3)		—		1
Total	$	34	$	21	$	(30)	$	(7)	$	18

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, 2021

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 utilizes interest rate swaps to convert fixed rate debt into variable rate debt or variable rate debt to fixed rate debt. The Company does not hold derivative instruments for trading or speculative purposes.

Derivative Instruments

The following summarizes the notional amounts of cash flow hedges, hedges of net investments, fair value hedges, and derivative instruments not designated as hedges for accounting purposes by derivative instrument type at September 30, 2021 and the notional amounts expected to mature during the next 12 months.


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

Cash Flow Hedges
Foreign exchange forward contracts	$	323	$	246


Total derivative instruments designated as cash flow hedges	$	323	$	246

Hedges of Net Investments
Foreign exchange forward contracts	$	185	$	93
Cross currency basis swaps	309		—
Total derivative instruments designated as hedges of net investments	$	494	$	93

Fair Value Hedges
Interest Rate Swaps	$	250	$	—
Foreign exchange forward contracts	217		134
Total derivative instruments designated as fair value hedges	$	467	$	134

Derivative Instruments not Designated as Hedges
Foreign exchange forward contracts	$	342	$	342
Total derivative instruments not designated as hedges	$	342	$	342

Cash Flow Hedges

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. 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, which is the period over which the Company is hedging exposures to variability of cash flows 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.

AOCI Release

Overall, the derivatives designated as cash flow hedges are considered to be highly effective for accounting purposes. At September 30, 2021, the Company expects to reclassify $1 million of deferred net losses on cash flow hedges recorded in AOCI in the Consolidated Statements of Operations during the next 12 months. For the rollforward of derivative instruments designated as cash flow hedges in AOCI see Note 3, Comprehensive (Loss) Income.

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 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.

On May 25, 2021, the Company re-established its euro net investment hedge portfolio by entering into eight foreign exchange forward contracts, each with a notional amount of 10 million euro. The contracts have quarterly maturity dates through March 31, 2023.

On July 2, 2021, the Company entered into a cross currency basis swap totaling a notional amount of $300 million which matures on June 3, 2030. The cross currency basis swap is designated as a hedge of net investments. This contract effectively converts a portion of the $750 million bond coupon from 3.3% to 1.7%, which will result in a net reduction of interest expense in 2021.

Fair Value Hedges

Foreign Exchange Risk Management

The Company has intercompany loans denominated in Swedish kronor that are exposed to volatility in currency exchange rates. The Company employs derivative financial instruments to hedge these exposures. 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. 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 operating activities in the Consolidated Statements of Cash Flows.

On January 6, 2021 the Company entered into foreign exchange forward contracts with a notional value of SEK 1.3 billion as a result of an increase in intercompany loans denominated in Swedish kronor. The foreign exchange forwards are designated as fair value hedges.

On July 1, 2021, the Company entered into variable interest rate swaps with a notional amount of $250 million, which effectively converts a portion of the underlying fixed rate of 3.3% on the $750 million Senior Notes due June 2030 to a variable interest rate. Of the $250 million notional amount, $100 million has a term of five-years maturing on June 1, 2026 and $150 million has a term of nine years maturing on March 1, 2030.

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 these instruments are included in cash from operating activities in the Consolidated Statements of Cash Flows.

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, 2021 and 2020 were insignificant.

Derivative Instrument Activity

The amount of gains and losses recorded in the Company’s Consolidated Balance Sheets and Consolidated Statements of Operations related to all derivative instruments for the three months ended September 30, 2021 and 2020 were as follows:


	Three Months Ended September 30, 2021
(in millions)	Gain (Loss) recognized in AOCI		Consolidated Statements of Operations Location	Effective Portion Reclassified from AOCI into Income (Expense)		Recognized in Income (Expense)

Cash Flow Hedges
Foreign exchange forward contracts	$	6	Cost of products sold	$	(2)	$	—
Interest rate swaps	—		Interest expense, net	(1)		—


Total for cash flow hedging	$	6		$	(3)	$	—

Hedges of Net Investments
Cross currency basis swaps	$	(1)	Interest expense, net	$	—	$	1

Foreign exchange forward contracts	4		Other expense (income), net	—		—

Total for net investment hedging	$	3		$	—	$	1

Fair Value Hedges
Interest rate swaps	$	—	Interest expense, net	$	—	$	1
Foreign exchange forward contracts	—		Other expense (income), net	—		6

Total for fair value hedging	$	—		$	—	$	7


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

Cash Flow Hedges
Foreign exchange forward contracts	$	(6)	Cost of products sold	$	1	$	1
Interest rate swaps	3		Interest expense, net	(2)		—


Total for cash flow hedging	$	(3)		$	(1)	$	1

Hedges of Net Investments
Cross currency basis swaps	$	(17)	Interest expense, net	$	—	$	2



Total for net investment hedging	$	(17)		$	—	$	2

The amount of gains and losses recorded in AOCI in the Consolidated Balance Sheets and Consolidated Statement of Operations related to all derivative instruments for the nine months ended September 30, 2021 and 2020 were as follows:


	Nine Months Ended September 30, 2021
(in millions)	Gain (Loss) recognized in AOCI		Consolidated Statements of Operations Location	Effective Portion Reclassified from AOCI into Income (Expense)		Recognized in Income (Expense)

Cash Flow Hedges
Foreign exchange forward contracts	$	3	Cost of products sold	$	(4)	$	1
Interest rate swaps	—		Interest expense, net	(4)		—


Total for cash flow hedging	$	3		$	(8)	$	1

Hedges of Net Investments
Cross currency basis swaps	$	6	Interest expense, net	$	—	$	5

Foreign exchange forward contracts	7		Other expense (income), net	—		—

Total for net investment hedging	$	13		$	—	$	5

Fair Value Hedges
Interest rate swaps	$	—	Interest expense, net	$	—	$	1
Foreign exchange forward contracts	—		Other expense (income), net	—		18

Total for fair value hedging	$	—		$	—	$	19


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

Cash Flow Hedges
Foreign exchange forward contracts	$	(2)	Cost of products sold	$	2	$	2
Interest rate swaps	(17)		Interest expense, net	(3)		—


Total for cash flow hedging	$	(19)		$	(1)	$	2

Hedges of Net Investments
Cross currency basis swaps	$	(13)	Interest expense, net	$	—	$	7

Foreign exchange forward contracts	6		Other expense (income), net	—		6

Total for net investment hedging	$	(7)		$	—	$	13

Consolidated Balance Sheets Location of Derivative Fair Values

The fair value and the location of the Company’s derivatives in the Consolidated Balance Sheets were as follows:


	September 30, 2021
(in millions)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Accrued Liabilities		Other Noncurrent Liabilities

Designated as Hedges:
Foreign exchange forward contracts	$	13	$	11	$	2	$	—
Interest rate swaps	3		—		—		5
Cross currency basis swaps	3		—		—		14
Total	$	19	$	11	$	2	$	19

Not Designated as Hedges:
Foreign exchange forward contracts	$	1	$	—	$	2	$	—
Total	$	1	$	—	$	2	$	—

	December 31, 2020
(in millions)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Accrued Liabilities		Other Noncurrent Liabilities

Designated as Hedges:
Foreign exchange forward contracts	$	5	$	2	$	10	$	3

Cross currency basis swaps	—		—		20		—
Total	$	5	$	2	$	30	$	3

Not Designated as Hedges:
Foreign exchange forward contracts	$	3	$	—	$	2	$	—
Total	$	3	$	—	$	2	$	—

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, 2021 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	$	25	$	—	$	25	$	(10)	$	—	$	15

Interest rate swaps	3		—		3		(3)		—		—
Cross currency basis swaps	3		—		3		(3)		—		—

Total assets	$	31	$	—	$	31	$	(16)	$	—	$	15

Liabilities
Foreign exchange forward contracts	$	4	$	—	$	4	$	(3)	$	—	$	1

Interest rate swaps	5		—		5		(3)		—		2
Cross currency basis swaps	14		—		14		(10)		—		4

Total liabilities	$	23	$	—	$	23	$	(16)	$	—	$	7

Offsetting of financial assets and liabilities under netting arrangements at December 31, 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	$	9	$	—	$	9	$	(9)	$	—	$	—



Total assets	$	9	$	—	$	9	$	(9)	$	—	$	—

Liabilities
Foreign exchange forward contracts	$	15	$	—	$	15	$	—	$	—	$	15

Interest rate swaps	20		—		20		(7)		—		13


Total liabilities	$	35	$	—	$	35	$	(7)	$	—	$	28

FAIR VALUE MEASUREMENT

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENT

The estimated fair value and carrying value of the Company’s total debt was $2,227 million and $2,076 million, respectively, at September 30, 2021. At December 31, 2020, the estimated fair value and carrying value were $2,509 million and $2,281 million, respectively. The fair value of long-term debt is based on recent trade information in the financial markets of the Company’s public debt or is determined by discounting future cash flows using interest rates available at September 30, 2021 and December 31, 2020 to companies with similar credit ratings for issues with similar terms and maturities. It is considered a Level 2 fair value measurement.

Assets and liabilities measured at fair value on a recurring basis

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, 2021
(in millions)	Total		Level 1		Level 2		Level 3

Assets

Interest rate swaps	$	3	$	—	$	3	$	—

Cross currency basis swaps	3		—		3		—
Foreign exchange forward contracts	25		—		25		—
Long-term debt	2		—		2		—
Total assets	$	33	$	—	$	33	$	—

Liabilities
Interest rate swaps	$	5	$	—	$	5	$	—

Cross currency basis swaps	14		—		14		—
Foreign exchange forward contracts	4		—		4		—

Contingent considerations on acquisitions	11		—		—		11
Total liabilities	$	34	$	—	$	23	$	11



	December 31, 2020
(in millions)	Total		Level 1		Level 2		Level 3

Assets




Foreign exchange forward contracts	$	10	$	—	$	10	$	—

Total assets	$	10	$	—	$	10	$	—

Liabilities


Cross currency basis swaps	$	20	$	—	$	20	$	—
Foreign exchange forward contracts	15		—		15		—

Contingent considerations on acquisitions	5		—		—		5

Total liabilities	$	40	$	—	$	35	$	5

There have been no transfers between levels during the nine months ended September 30, 2021.

- 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, 2021
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, 2021, the Company recorded $4 million of tax expense for discrete tax matters. During the three months ended September 30, 2020, the Company recorded $2 million of tax expense for discrete tax matters.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

FINANCING ARRANGEMENTS	9 Months Ended
FINANCING ARRANGEMENTS	Sep. 30, 2021
Debt Disclosure [Abstract]
FINANCING ARRANGEMENTS	FINANCING ARRANGEMENTS At September 30, 2021, the Company had $607 million of borrowing available under lines of credit, including lines available under its short-term arrangements and revolving credit facility. The Company has a $500 million commercial paper program. The $700 million multi-currency revolving credit facility serves as a back-stop credit facility for the Company’s commercial paper program. At September 30, 2021 and December 31, 2020, there were no outstanding borrowings under the multi-currency revolving credit facility. The Company had $139 million outstanding borrowings under the commercial paper facility at September 30, 2021 and no outstanding borrowings under the commercial paper facility at December 31, 2020. As of September 30, 2021, the weighted-average interest rate for this short-term debt was 0.2%. On July 2, 2021 the Company pre-paid the fixed rate Senior Notes totaling $296 million that were scheduled to mature on August 16, 2021 using cash and short-term commercial paper. 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, 2021, the Company was in compliance with all affirmative and negative debt covenants.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

The Company assesses both goodwill and indefinite-lived intangible assets for impairment annually during the second quarter or more frequently if events or changes in circumstances indicate the asset might be impaired. The Company conducted its annual goodwill and indefinite-lived intangible assets impairment test as of April 1, 2021. Based on the Company’s 2021 impairment test, it was determined that the fair values of its reporting units and indefinite-lived intangible assets more likely than not exceed their respective carrying values, resulting in no impairment.

The fair values of reporting units were computed using a discounted cash flow model with inputs developed using both internal and market-based data. Intangible assets were evaluated for impairment using an income approach, specifically a relief from royalty method, or using a qualitative assessment. A change in any of the estimates and assumptions used in the annual test, a decline in the overall markets or in the use of intangible assets among other factors, could have a material adverse effect to the fair value of either the reporting units or intangible assets and could result in a future impairment charge. There can be no assurance that the Company’s future asset impairment testing will not result in a material charge to earnings.

Subsequent to the annual impairment test, as of September 30, 2021, the Company considered whether any events or changes in circumstances had resulted in the likelihood that the goodwill or indefinite-lived intangible assets may have become impaired during the course of the quarter, and concluded that there were no such indicators.

During the three months ended March 31, 2020, as a result of updating the estimates and assumptions pertaining to the impact of the ongoing COVID-19 pandemic, the Company recorded a goodwill impairment charge of $157 million related to the goodwill associated with the Technologies & Equipment segment. Additionally, during the three months ended March 31, 2020, the Company recorded an indefinite-lived intangible asset impairment charge of $39 million within the Technologies & Equipment segment which was driven by a decline in forecasted sales as a result of the COVID-19 pandemic and an unfavorable change in the discount rate.

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, 2020
Goodwill	$	5,985	$	894	$	6,879
Accumulated impairment losses	(2,893)		—		(2,893)
Goodwill, net	$	3,092	$	894	$	3,986

Acquisition related additions (a)	107		—		107
Translation and other	(140)		47		(93)

Balance at September 30, 2021
Goodwill	$	5,952	$	941	$	6,893
Accumulated impairment losses	(2,893)		—		(2,893)
Goodwill, net	$	3,059	$	941	$	4,000

(a) Refer to Note 5, “Business Combinations” for more information regarding recent acquisitions.

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


	September 30, 2021						December 31, 2020
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Developed technology and patents	$	1,752	$	(743)	$	1,009	$	1,681	$	(677)	$	1,004
Tradenames and trademarks	269		(76)		193		273		(70)		203
Licensing agreements	36		(31)		5		37		(30)		7
Customer relationships	1,105		(533)		572		1,142		(494)		648
Total definite-lived	$	3,162	$	(1,383)	$	1,779	$	3,133	$	(1,271)	$	1,862

Indefinite-lived tradenames and trademarks	$	610	$	—	$	610	$	642	$	—	$	642
In-process R&D (a)	13		—		13		—		—		—
Total indefinite-lived	$	623	$	—	$	623	$	642	$	—	$	642

Total identifiable intangible assets	$	3,785	$	(1,383)	$	2,402	$	3,775	$	(1,271)	$	2,504

(a) Intangible assets acquired in a business combination that are in-process and used in research and development (“R&D”) activities are considered indefinite-lived until the completion or abandonment of the R&D efforts. The useful life and amortization of those assets will be determined once the R&D efforts are completed.

During the second quarter of 2021, the Company purchased certain developed technology rights for an initial payment of $3 million. The purchase consideration also includes contingent payments of $17 million to be made upon reaching certain regulatory and commercial milestones, which were not yet deemed probable at September 30, 2021.

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation 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 agreed to resolve all three actions (Olivares, Holt, and Cato). The court in Cato approved the settlement in that case, the settlement payment has been made, and the court dismissed the lawsuit. The parties to Olivares and Holt are in the process of seeking court approval of that settlement. The expected settlement amount, which is immaterial to the financial statements, has been recorded as an accrued liability within the Company’s consolidated balance sheet as of September 30, 2021. 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 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. On September 26, 2019, the Court granted the Company’s motion to dismiss all claims and a judgment dismissing the case was subsequently entered. On February 4, 2020, the Court denied plaintiffs’ post-judgment motion to vacate or modify the judgment and to grant them leave to amend their complaint. The plaintiffs appealed the dismissal and the denial of the post-judgment motion to the Supreme Court of the State of New York, Appellate Division, First Department, and the Company cross-appealed select rulings in the Court’s decision dismissing the action. The plaintiffs’ appeals and the Company’s cross-appeal were consolidated and argued on January 12, 2021. On February 2, 2021, the Appellate Division issued its decision upholding the dismissal of the State Court Action with prejudice on statute of limitations grounds. The Plaintiffs did not appeal the Appellate Division decision. 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 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 moved to dismiss the amended complaint on August 15, 2019. The plaintiff filed its second amended complaint on January 22, 2021, and the Company filed a motion to dismiss the second amended complaint on March 8, 2021. Briefing on the motion to dismiss was fully submitted on May 21, 2021, and that motion is currently pending before the Court. 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 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 $5 million for 2012, has no tax liability for 2013, and owes a deficiency of $17 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. In March 2019, the Company submitted a formal protest disputing on multiple grounds the proposed taxes. The Company and its advisors discussed its position with the IRS Appeals Office Team on October 28, 2020 and, on November 13, 2020, submitted a supplemental response to questions raised by the Appeals Team. The Company’s position continues to be reviewed by the IRS Appeals Office team. 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 in 2021 upon further review by the IRS Appeals Office Team. 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 $49 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. This view has now been confirmed by the European Union Court of Justice in a preliminary ruling requested by the Swedish Supreme Administrative Court. Subsequently, the Swedish Tax Authority has conceded in pending court proceedings that the Company should be granted further interest expense deductions, but still claims that interest expense deductions incurring a maximum additional tax expense of $12 million should be disallowed on grounds not relating to European Union law. 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 legal matters primarily involve 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 proceedings and claims 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. Commitments From time to time, the Company enters into long-term inventory purchase commitments with minimum purchase requirements for raw materials and finished goods to ensure the availability of products for production and distribution. Future minimum annual payments for inventory purchase commitments were immaterial as of September 30, 2021.

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2021
Accounting Policies [Abstract]
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 Net sales and expense during the reporting period. Actual results could differ materially from those estimates. Specifically, for the nine months ended September 30, 2021, some of these estimates and assumptions continue to be based on an ongoing evaluation of expected future impacts from the COVID-19 pandemic. 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 in future periods 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, dental practice safety protocols which reduce patient traffic, and some lingering patient reluctance to seek dental care. The Company’s 2020 results were materially impacted by the preventative measures implemented at the outset of the pandemic, including the closure or reduced operations of dental practices. During 2021, demand for the Company’s products has largely recovered, although impacts from the pandemic continue to be experienced as evidenced by the more recent shortages and higher prices of raw materials such as electronic components, higher related transportation costs, and labor shortages. In the current year, the Company has experienced supply chain constraints, which has impacted its ability to timely produce and deliver certain products, and has also resulted in increases in shipping rates. To address these issues, the Company has taken steps to mitigate the impact of these trends, including continued emphasis on cost reduction and supply chain efficiencies. However, uncertainties remain regarding how long these impacts will continue, whether customer demand will fully return to pre-COVID-19 levels upon lifting of remaining government restrictions, or whether future variants of the virus may have an adverse impact on demand in affected markets.
Inventory	Inventory As of September 30, 2021, all of the Company’s inventories were determined by the first-in, first-out (“FIFO”) or average cost methods. As of the end of the first quarter of 2021, the Company had $1 million of inventories accounted for under the last-in first-out (“LIFO”) method of inventory costing. Effective as of the beginning of the second quarter, the method of accounting for these inventories was changed from LIFO to FIFO. This change in accounting is preferable as the value of inventory for which cost was previously determined using a LIFO cost flow assumption has declined from prior years due to changes in the business, it allows for a more consistent methodology to be utilized across the Company, and provides improved comparability with industry peers. The change in accounting principle was recognized during the second quarter of 2021 by adjusting these inventories to cost as determined using the FIFO method, resulting in an increase in inventories of $4 million and a corresponding reduction to Cost of products sold in the Company’s Consolidated Statements of Operations. The impact of this change was not material to the Company’s financial position as of December 31, 2020, or the Company’s results of operations for any previously reported prior periods nor is the cumulative effect of the change material to the results of operations for the six months ended June 30, 2021. Therefore, prior period amounts have not been retrospectively adjusted.
Goodwill & Intangible Assets	Goodwill & Intangible Assets Effective 2021 and prospectively, the Company is performing its required annual goodwill impairment test as of April 1 rather than as of April 30 which was the Company’s previous practice. The Company believes this change is preferable as it more closely aligns with the timing of the Company’s strategic business planning process. This change did not result in any delay, acceleration or avoidance of impairment. Furthermore, a retrospective application to prior periods is impracticable as the Company is unable to objectively determine, without the use of hindsight, the assumptions which would be used in earlier periods.
Accounting Pronouncements Not Yet Adopted	Accounting Pronouncements Not Yet Adopted In March 2020, the FASB issued ASU No. 2020-04 “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting”, which was subsequently amended by ASU No. 2021-01 “Reference Rate Reform (Topic 848): Scope” in January 2021. The new standard provides optional expedients and exceptions to contracts, hedging relationships, and other transactions that reference the London Interbank Offer Rate (“LIBOR”) or another rate expected to be discontinued due to the reference rate reform. This standard is permitted to be adopted any time through December 31, 2022, and does not apply to contract modifications made or hedging relationships entered into or evaluated after December 31, 2022. The Company is currently assessing the impact that this standard will have on its financial position, results of operations, cash flows, and disclosures.
Revenue	Revenues are derived primarily from the sale of dental equipment and dental and healthcare consumable products. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods or providing services.
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. 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, which is the period over which the Company is hedging exposures to variability of cash flows and the counterparties to the transactions are typically large international financial institutions.

- Definition

Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.

+ References + Details

SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

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


CONSOLIDATED STATEMENTS OF OPERATIONS
	Three Months Ended September 30, 2021						Three Months Ended September 30, 2020
(in millions, except per share amounts)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised

Net sales	$	1,069	$	(29)	$	1,040	$	895	$	(12)	$	883
Cost of products sold	478		(7)		471		453		(2)		451

Gross profit	591		(22)		569		442		(10)		432

Selling, general, and administrative expenses	394		1		395		315		(2)		313
Research and development expenses	35		4		39		27		2		29



Operating income	159		(27)		132		82		(10)		72


Interest expense, net	13		1		14		14		—		14
Other expense (income), net	8		(3)		5		1		—		1

Income before income taxes	138		(25)		113		67		(10)		57
Provision for income taxes	35		(6)		29		13		(4)		9


Net income	103		(19)		84		54		(6)		48



Net income attributable to Dentsply Sirona	$	103	$	(19)	$	84	$	53	$	(6)	$	47

Net income per common share attributable to Dentsply Sirona:
Basic	$	0.47	$	(0.08)	$	0.39	$	0.25	$	(0.03)	$	0.22
Diluted	$	0.47	$	(0.09)	$	0.38	$	0.25	$	(0.03)	$	0.22


CONSOLIDATED STATEMENTS OF OPERATIONS
	Nine Months Ended September 30, 2021						Nine Months Ended September 30, 2020
(in millions, except per share amounts)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised

Net sales	$	3,163	$	(35)	$	3,128	$	2,260	$	3	$	2,263
Cost of products sold	1,395		(10)		1,385		1,174		—		1,174

Gross profit	1,768		(25)		1,743		1,086		3		1,089

Selling, general and administrative expenses	1,177		(3)		1,174		935		(6)		929
Research and development expenses	112		10		122		79		6		85



Operating income (loss)	468		(32)		436		(147)		3		(144)


Interest expense, net	43		—		43		32		(1)		31


Income (loss) before income taxes	421		(32)		389		(183)		4		(179)
Provision (benefit) for income taxes	102		(5)		97		(1)		—		(1)


Net income (loss)	319		(27)		292		(182)		4		(178)



Net income (loss) attributable to Dentsply Sirona	$	319	$	(27)	$	292	$	(182)	$	4	$	(178)

Net income (loss) per common share attributable to Dentsply Sirona:
Basic	$	1.46	$	(0.12)	$	1.34	$	(0.83)	$	0.02	$	(0.81)
Diluted	$	1.45	$	(0.13)	$	1.32	$	(0.83)	$	0.02	$	(0.81)


CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
	Three Months Ended September 30, 2021						Three Months Ended September 30, 2020
(in millions)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised

Net income	$	103	$	(19)	$	84	$	54	$	(6)	$	48







Total comprehensive income	47		(19)		28		121		(6)		115



Comprehensive income attributable to Dentsply Sirona	$	47	$	(19)	$	28	$	121	$	(6)	$	115


CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
	Nine Months Ended September 30, 2021						Nine Months Ended September 30, 2020
(in millions)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised

Net income (loss)	$	319	$	(27)	$	292	$	(182)	$	4	$	(178)








Total comprehensive income (loss)	216		(27)		189		(159)		4		(155)



Comprehensive income (loss) attributable to Dentsply Sirona	$	216	$	(27)	$	189	$	(159)	$	4	$	(155)


CONSOLIDATED BALANCE SHEETS
	September 30, 2021						December 31, 2020
(in millions)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised




Accounts and notes receivable-trade, net	$	748	$	(16)	$	732	$	673	$	(6)	$	667
Inventories, net	532		16		548		466		10		476
Prepaid expenses and other current assets	243		1		244		214		3		217
Total Current Assets	1,804		1		1,805		1,791		7		1,798





Other noncurrent assets	128		—		128		94		1		95
Total Assets	9,288		1		9,289		9,342		8		9,350



Accounts payable	276		(5)		271		305		(3)		302
Accrued liabilities	641		84		725		653		59		712
Income taxes payable	58		(6)		52		60		(1)		59

Total Current Liabilities	1,126		73		1,199		1,317		55		1,372



Deferred income taxes	413		(12)		401		393		(12)		381
Other noncurrent liabilities	560		2		562		554		—		554
Total Liabilities	4,163		63		4,226		4,372		43		4,415









Retained earnings	1,481		(62)		1,419		1,233		(35)		1,198


Total Dentsply Sirona Equity	5,122		(62)		5,060		4,967		(35)		4,932


Total Equity	5,125		(62)		5,063		4,970		(35)		4,935
Total Liabilities and Equity	9,288		1		9,289		9,342		8		9,350


CONSOLIDATED STATEMENT OF CASH FLOWS
	Nine Months Ended September 30, 2021						Nine Months Ended September 30, 2020
(in millions)	As Previously Issued		Adjustment		As Restated		As Previously Issued		Adjustment		As Revised

Cash flows from operating activities:
Net income (loss)	$	319	$	(27)	$	292	$	(182)	$	4	$	(178)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Other non-cash expense (income)	12		1		13		9		(2)		7
Changes in operating assets and liabilities, net of acquisitions:
Accounts and notes receivable-trade, net	(98)		9		(89)		149		1		150
Inventories, net	(82)		(6)		(88)		74		(1)		73
Prepaid expenses and other current assets, net	(27)		3		(24)		50		—		50
Accounts payable	(39)		(6)		(45)		(65)		3		(62)
Accrued liabilities	41		29		70		(73)		7		(66)
Income taxes	11		(5)		6		(10)		1		(9)
Other noncurrent liabilities	20		2		22		(14)		—		(14)
Net cash provided by operating activities	435		—		435		372		13		385
Cash flows from financing activities:
Other financing activities, net	(11)		—		(11)		(4)		(13)		(17)
Net cash (used in) provided by financing activities	(257)		—		(257)		504		(13)		491

REVENUE (Tables)

9 Months Ended

Sep. 30, 2021

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

Net sales disaggregated by product category for the three and nine months ended September 30, 2021 and 2020 were as follows:


	Three Months Ended				Nine Months Ended
(in millions)	2021		2020		2021		2020

Equipment & Instruments	$	176	$	152	$	523	$	373
CAD/CAM	147		97		403		296
Orthodontics	63		52		212		119
Implants	150		126		461		329
Healthcare	76		70		225		210
Technology & Equipment segment net sales	$	612	$	497	$	1,824	$	1,327

Endodontic & Restorative	$	313	$	268	$	953	$	642
Other Consumables	115		118		351		294
Consumables segment net sales	$	428	$	386	$	1,304	$	936

Total net sales	$	1,040	$	883	$	3,128	$	2,263

Revenue from External Customers by Geographic Areas

Net sales disaggregated by geographic region for the three and nine months ended September 30, 2021 and 2020 were as follows:


	Three Months Ended				Nine Months Ended
(in millions)	2021		2020		2021		2020

United States	$	384	$	312	$	1,094	$	758
Europe	393		346		1,239		934
Rest of World	263		225		795		571

Total net sales	$	1,040	$	883	$	3,128	$	2,263

STOCK COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Stock Based Compensation

The amounts of stock compensation expense recorded in the Company’s Consolidated Statements of Operations for the three and nine months ended September 30, 2021 and 2020 were as follows:


	Three Months Ended				Nine Months Ended
(in millions)	2021		2020		2021		2020

Cost of products sold	$	2	$	—	$	4	$	1
Selling, general, and administrative expense	19		15		48		33
Research and development expense	1		1		2		1
Total stock based compensation expense	$	22	$	16	$	54	$	35

Related deferred income tax benefit	$	2	$	2	$	6	$	4

COMPREHENSIVE INCOME (LOSS) (Tables)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in Accumulated other comprehensive income (loss) (“AOCI”), net of tax, by component for the nine months ended September 30, 2021 and 2020 were as follows:



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

Balance, net of tax, at December 31, 2020	$	(187)	$	(25)	$	(119)	$	(133)	$	(464)
Other comprehensive (loss) income before reclassifications and tax impact	(74)		(6)		9		3		(68)
Tax (expense) benefit	(25)		2		(2)		(1)		(26)
Other comprehensive (loss) income, net of tax, before reclassifications	(99)		(4)		7		2		(94)
Amounts reclassified from accumulated other comprehensive income, net of tax	—		2		—		2		4
Net (decrease) increase in other comprehensive loss	(99)		(2)		7		4		(90)


Balance, net of tax, at March 31, 2021	$	(286)	$	(27)	$	(112)	$	(129)	$	(554)
Other comprehensive income before reclassifications and tax impact	31		3		1		—		35
Tax benefit (expense)	6		(2)		(1)		—		3
Other comprehensive income, net of tax, before reclassifications	37		1		—		—		38
Amounts reclassified from accumulated other comprehensive income, net of tax	—		3		—		2		5
Net increase in other comprehensive income	37		4		—		2		43


Balance, net of tax, at June 30, 2021	$	(249)	$	(23)	$	(112)	$	(127)	$	(511)
Other comprehensive (loss) income before reclassifications and tax impact	(59)		6		3		—		(50)
Tax expense	(9)		(1)		(1)		—		(11)
Other comprehensive (loss) benefit, net of tax, before reclassifications	(68)		5		2		—		(61)
Amounts reclassified from accumulated other comprehensive income, net of tax	—		3		—		2		5
Net increase in other comprehensive (loss) income	(68)		8		2		2		(56)


Balance, net of tax, at September 30, 2021	$	(317)	$	(15)	$	(110)	$	(125)	$	(567)


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

Balance, net of tax, at December 31, 2019	$	(370)	$	(11)	$	(101)	$	(120)	$	(602)
Other comprehensive (loss) income before reclassifications and tax impact	(117)		(16)		25		—		(108)
Tax (expense) benefit	(2)		4		(8)		—		(6)
Other comprehensive (loss) income, net of tax, before reclassifications	(119)		(12)		17		—		(114)
Amounts reclassified from accumulated other comprehensive income, net of tax	—		—		—		2		2
Net (decrease) increase in other comprehensive income	(119)		(12)		17		2		(112)
Balance, net of tax, at March 31, 2020	$	(489)	$	(23)	$	(84)	$	(118)	$	(714)
Other comprehensive income (loss) before reclassifications and tax impact	77		—		(15)		—		62
Tax (expense) benefit	(2)		—		7		—		5
Other comprehensive income (loss), net of tax, before reclassifications	75		—		(8)		—		67
Amounts reclassified from accumulated other comprehensive income, net of tax	—		—		—		1		1
Net increase (decrease) in other comprehensive income	75		—		(8)		1		68

Balance, net of tax, at June 30, 2020	$	(414)	$	(23)	$	(92)	$	(117)	$	(646)
Other comprehensive income (loss) before reclassifications and tax impact	67		(3)		(17)		—		47
Tax benefit (expense)	17		(2)		2		—		17
Other comprehensive income (loss), net of tax, before reclassifications	84		(5)		(15)		—		64
Amounts reclassified from accumulated other comprehensive income, net of tax	—		1		—		2		3
Net increase (decrease) in other comprehensive income	84		(4)		(15)		2		67
Balance, net of tax, at September 30, 2020	$	(330)	$	(27)	$	(107)	$	(115)	$	(579)

EARNINGS PER COMMON SHARE (Tables)

9 Months Ended

Sep. 30, 2021

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, 2021 and 2020 were as follows:


Basic Earnings (Loss) Per Common Share	Three Months Ended				Nine Months Ended
(in millions, except per share amounts)	2021		2020		2021		2020

Net income (loss) attributable to Dentsply Sirona	$	84	$	47	$	292	$	(178)

Weighted average common shares outstanding	218.6		218.5		218.6		219.4

Earnings (loss) per common share - basic	$	0.39	$	0.22	$	1.34	$	(0.81)

Diluted Earnings (Loss) Per Common Share	Three Months Ended				Nine Months Ended
(in millions, except per share amounts)	2021		2020		2021		2020

Net income (loss) attributable to Dentsply Sirona	$	84	$	47	$	292	$	(178)

Weighted average common shares outstanding	218.6		218.5		218.6		219.4
Incremental weighted average shares from assumed exercise of dilutive options from stock-based compensation awards	1.9		0.7		2.1		—
Total weighted average diluted shares outstanding	220.5		219.2		220.7		219.4

Earnings (loss) per common share - diluted	$	0.38	$	0.22	$	1.32	$	(0.81)

BUSINESS COMBINATIONS (Tables)

9 Months Ended

Sep. 30, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Intangible Assets Acquired

Identifiable intangible assets acquired were as follows:

Weighted Average

Useful Life

(in millions, except for useful life)

Amount

(in years)

In-process R&D

Indefinite

Total

Identifiable intangible assets acquired were as follows:


			Weighted Average
			Useful Life
(in millions, except for useful life)	Amount		(in years)

Developed technology	$	66	10

Total	$	66

Identifiable intangible assets acquired were as follows:


			Weighted Average
			Useful Life
(in millions, except for useful life)	Amount		(in years)

Developed technology	$	66	15
In-process R&D	10		Indefinite
Total	$	76

Intangible assets acquired were as follows:


			Weighted Average
			Useful Life
(in millions, except for useful life)	Amount		(in years)

Non-compete agreements	$	16	5
Technology know-how	210		10
Tradenames and trademarks	190		20
Total	$	416

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The preliminary fair values of the assets acquired and liabilities assumed in connection with the Propel Orthodontics acquisition were as follows:


(in millions)


Other current assets	$	4
Intangible assets	66
Current liabilities	(1)
Net assets acquired	69
Goodwill	63
Purchase consideration	$	132

The preliminary fair values of the assets acquired and liabilities assumed in connection with the Datum acquisition were as follows:


(in millions)

Cash and cash equivalents	$	2
Other current assets	2
Intangible assets	76
Current liabilities	(2)
Other long-term assets (liabilities), net	(14)
Net assets acquired	64
Goodwill	39
Purchase consideration	$	103

The preliminary fair values of the assets acquired and liabilities assumed in connection with the Byte acquisition for the year ended December 31, 2020 were as follows:


(in millions)

Cash and cash equivalents	$	14
Current assets	17
Intangible assets	416
Current liabilities	(28)

Net assets acquired	419
Goodwill	626
Purchase consideration	$	1,045

SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Third Party Net Sales

The Company’s segment information for the three and nine months ended September 30, 2021 and 2020 was as follows:

Net Sales


	Three Months Ended				Nine Months Ended
(in millions)	2021		2020		2021		2020

Technologies & Equipment	$	612	$	497	$	1,824	$	1,327
Consumables	428		386		1,304		936
Total net sales	$	1,040	$	883	$	3,128	$	2,263

Segment Adjusted Operating Income


	Three Months Ended				Nine Months Ended
(in millions)	2021		2020		2021		2020

Technologies & Equipment (a)	$	134	$	122	$	391	$	231
Consumables (a)	123		114		426		166
Segment adjusted operating income (loss)	257		236		817		397

Reconciling items expense (income):
All other (b)	67		95		199		174
Goodwill impairment	—		—		—		157
Restructuring and other costs	3		18		11		62
Interest expense, net	14		14		43		31

Other expense (income), net	5		1		4		4
Amortization of intangible assets	56		49		167		143
Depreciation and other adjustments resulting from the fair value step-up of property, plant, and equipment from business combinations	(1)		2		4		5
Income (loss) before income taxes	$	113	$	57	$	389	$	(179)

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

INVENTORIES (Tables)

9 Months Ended

Sep. 30, 2021

Inventory Disclosure [Abstract]

Inventories, Net

Inventories, net were as follows:


(in millions)	September 30, 2021		December 31, 2020

Finished goods	$	343	$	274
Work-in-process	73		68
Raw materials and supplies	132		134
Inventories, net	$	548	$	476

RESTRUCTURING AND OTHER COSTS (Tables)

9 Months Ended

Sep. 30, 2021

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The details of total restructuring and other costs for the three and nine months ended September 30, 2021 and 2020 were as follows:


Affected Line Item in the Consolidated Statements of Operations	Three Months Ended				Nine Months Ended
(in millions)	2021		2020		2021		2020

Cost of products sold	$	—	$	33	$	(3)	$	33
Selling, general, and administrative expenses	3		1		6		1
Restructuring and other costs	3		18		11		62

Total restructuring and other costs	$	6	$	52	$	14	$	96

The Company’s restructuring accruals at September 30, 2021 were as follows:


	Severance
(in millions)	2019 and Prior Plans		2020 Plans		2021 Plans		Total

Balance at December 31, 2020	$	12	$	17	$	—	$	29
Provisions	2		4		7		13
Amounts applied	(8)		(11)		(3)		(22)
Change in estimates	(1)		(5)		—		(6)
Balance at September 30, 2021	$	5	$	5	$	4	$	14


	Other Restructuring Costs
(in millions)	2019 and Prior Plans		2020 Plans		2021 Plans		Total

Balance at December 31, 2020	$	3	$	2	$	—	$	5
Provisions	2		3		3		8
Amounts applied	(2)		(4)		(2)		(8)
Change in estimate	—		(1)		—		(1)
Balance at September 30, 2021	$	3	$	—	$	1	$	4

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, 2020		Provisions		Amounts Applied		Change in Estimates		September 30, 2021

Technologies & Equipment	$	16	$	6	$	(13)	$	(5)	$	4
Consumables	17		12		(14)		(2)		13
All Other	1		3		(3)		—		1
Total	$	34	$	21	$	(30)	$	(7)	$	18

FINANCIAL INSTRUMENTS AND DERIVATIVES (Tables)

9 Months Ended

Sep. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions


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

Cash Flow Hedges
Foreign exchange forward contracts	$	323	$	246


Total derivative instruments designated as cash flow hedges	$	323	$	246

Hedges of Net Investments
Foreign exchange forward contracts	$	185	$	93
Cross currency basis swaps	309		—
Total derivative instruments designated as hedges of net investments	$	494	$	93

Fair Value Hedges
Interest Rate Swaps	$	250	$	—
Foreign exchange forward contracts	217		134
Total derivative instruments designated as fair value hedges	$	467	$	134

Derivative Instruments not Designated as Hedges
Foreign exchange forward contracts	$	342	$	342
Total derivative instruments not designated as hedges	$	342	$	342

Schedule of Derivative Instruments


	Three Months Ended September 30, 2021
(in millions)	Gain (Loss) recognized in AOCI		Consolidated Statements of Operations Location	Effective Portion Reclassified from AOCI into Income (Expense)		Recognized in Income (Expense)

Cash Flow Hedges
Foreign exchange forward contracts	$	6	Cost of products sold	$	(2)	$	—
Interest rate swaps	—		Interest expense, net	(1)		—


Total for cash flow hedging	$	6		$	(3)	$	—

Hedges of Net Investments
Cross currency basis swaps	$	(1)	Interest expense, net	$	—	$	1

Foreign exchange forward contracts	4		Other expense (income), net	—		—

Total for net investment hedging	$	3		$	—	$	1

Fair Value Hedges
Interest rate swaps	$	—	Interest expense, net	$	—	$	1
Foreign exchange forward contracts	—		Other expense (income), net	—		6

Total for fair value hedging	$	—		$	—	$	7


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

Cash Flow Hedges
Foreign exchange forward contracts	$	(6)	Cost of products sold	$	1	$	1
Interest rate swaps	3		Interest expense, net	(2)		—


Total for cash flow hedging	$	(3)		$	(1)	$	1

Hedges of Net Investments
Cross currency basis swaps	$	(17)	Interest expense, net	$	—	$	2



Total for net investment hedging	$	(17)		$	—	$	2


	Nine Months Ended September 30, 2021
(in millions)	Gain (Loss) recognized in AOCI		Consolidated Statements of Operations Location	Effective Portion Reclassified from AOCI into Income (Expense)		Recognized in Income (Expense)

Cash Flow Hedges
Foreign exchange forward contracts	$	3	Cost of products sold	$	(4)	$	1
Interest rate swaps	—		Interest expense, net	(4)		—


Total for cash flow hedging	$	3		$	(8)	$	1

Hedges of Net Investments
Cross currency basis swaps	$	6	Interest expense, net	$	—	$	5

Foreign exchange forward contracts	7		Other expense (income), net	—		—

Total for net investment hedging	$	13		$	—	$	5

Fair Value Hedges
Interest rate swaps	$	—	Interest expense, net	$	—	$	1
Foreign exchange forward contracts	—		Other expense (income), net	—		18

Total for fair value hedging	$	—		$	—	$	19


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

Cash Flow Hedges
Foreign exchange forward contracts	$	(2)	Cost of products sold	$	2	$	2
Interest rate swaps	(17)		Interest expense, net	(3)		—


Total for cash flow hedging	$	(19)		$	(1)	$	2

Hedges of Net Investments
Cross currency basis swaps	$	(13)	Interest expense, net	$	—	$	7

Foreign exchange forward contracts	6		Other expense (income), net	—		6

Total for net investment hedging	$	(7)		$	—	$	13

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value and the location of the Company’s derivatives in the Consolidated Balance Sheets were as follows:


	September 30, 2021
(in millions)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Accrued Liabilities		Other Noncurrent Liabilities

Designated as Hedges:
Foreign exchange forward contracts	$	13	$	11	$	2	$	—
Interest rate swaps	3		—		—		5
Cross currency basis swaps	3		—		—		14
Total	$	19	$	11	$	2	$	19

Not Designated as Hedges:
Foreign exchange forward contracts	$	1	$	—	$	2	$	—
Total	$	1	$	—	$	2	$	—

	December 31, 2020
(in millions)	Prepaid Expenses and Other Current Assets		Other Noncurrent Assets		Accrued Liabilities		Other Noncurrent Liabilities

Designated as Hedges:
Foreign exchange forward contracts	$	5	$	2	$	10	$	3

Cross currency basis swaps	—		—		20		—
Total	$	5	$	2	$	30	$	3

Not Designated as Hedges:
Foreign exchange forward contracts	$	3	$	—	$	2	$	—
Total	$	3	$	—	$	2	$	—

Offsetting Derivative Assets and Liabilities

Offsetting of financial assets and liabilities under netting arrangements at September 30, 2021 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	$	25	$	—	$	25	$	(10)	$	—	$	15

Interest rate swaps	3		—		3		(3)		—		—
Cross currency basis swaps	3		—		3		(3)		—		—

Total assets	$	31	$	—	$	31	$	(16)	$	—	$	15

Liabilities
Foreign exchange forward contracts	$	4	$	—	$	4	$	(3)	$	—	$	1

Interest rate swaps	5		—		5		(3)		—		2
Cross currency basis swaps	14		—		14		(10)		—		4

Total liabilities	$	23	$	—	$	23	$	(16)	$	—	$	7

Offsetting of financial assets and liabilities under netting arrangements at December 31, 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	$	9	$	—	$	9	$	(9)	$	—	$	—



Total assets	$	9	$	—	$	9	$	(9)	$	—	$	—

Liabilities
Foreign exchange forward contracts	$	15	$	—	$	15	$	—	$	—	$	15

Interest rate swaps	20		—		20		(7)		—		13


Total liabilities	$	35	$	—	$	35	$	(7)	$	—	$	28

- 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, 2021

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, 2021
(in millions)	Total		Level 1		Level 2		Level 3

Assets

Interest rate swaps	$	3	$	—	$	3	$	—

Cross currency basis swaps	3		—		3		—
Foreign exchange forward contracts	25		—		25		—
Long-term debt	2		—		2		—
Total assets	$	33	$	—	$	33	$	—

Liabilities
Interest rate swaps	$	5	$	—	$	5	$	—

Cross currency basis swaps	14		—		14		—
Foreign exchange forward contracts	4		—		4		—

Contingent considerations on acquisitions	11		—		—		11
Total liabilities	$	34	$	—	$	23	$	11



	December 31, 2020
(in millions)	Total		Level 1		Level 2		Level 3

Assets




Foreign exchange forward contracts	$	10	$	—	$	10	$	—

Total assets	$	10	$	—	$	10	$	—

Liabilities


Cross currency basis swaps	$	20	$	—	$	20	$	—
Foreign exchange forward contracts	15		—		15		—

Contingent considerations on acquisitions	5		—		—		5

Total liabilities	$	40	$	—	$	35	$	5

GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2021

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, 2020
Goodwill	$	5,985	$	894	$	6,879
Accumulated impairment losses	(2,893)		—		(2,893)
Goodwill, net	$	3,092	$	894	$	3,986

Acquisition related additions (a)	107		—		107
Translation and other	(140)		47		(93)

Balance at September 30, 2021
Goodwill	$	5,952	$	941	$	6,893
Accumulated impairment losses	(2,893)		—		(2,893)
Goodwill, net	$	3,059	$	941	$	4,000

(a) Refer to Note 5, “Business Combinations” for more information regarding recent acquisitions.

Schedule of Definite-lived and Indefinite-lived Intangible Assets

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


	September 30, 2021						December 31, 2020
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Developed technology and patents	$	1,752	$	(743)	$	1,009	$	1,681	$	(677)	$	1,004
Tradenames and trademarks	269		(76)		193		273		(70)		203
Licensing agreements	36		(31)		5		37		(30)		7
Customer relationships	1,105		(533)		572		1,142		(494)		648
Total definite-lived	$	3,162	$	(1,383)	$	1,779	$	3,133	$	(1,271)	$	1,862

Indefinite-lived tradenames and trademarks	$	610	$	—	$	610	$	642	$	—	$	642
In-process R&D (a)	13		—		13		—		—		—
Total indefinite-lived	$	623	$	—	$	623	$	642	$	—	$	642

Total identifiable intangible assets	$	3,785	$	(1,383)	$	2,402	$	3,775	$	(1,271)	$	2,504

SIGNIFICANT ACCOUNTING POLICIES - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Significant Accounting Policies [Line Items]
Net sales	$ (1,040)			$ (883)			$ (3,128)	$ (2,263)
Net income	(84)	$ (96)	$ (112)	(48)	$ 92	$ 134	(292)	178
Retained earnings	1,419						1,419		$ 1,198
Inventories, net	548		$ 1				548		476
Inventory adjustments	4						4
Adjustment
Significant Accounting Policies [Line Items]
Net sales	29			12			35	(3)
Net income	19			$ 6			27	$ (4)
Retained earnings	(62)						(62)		(35)	$ 45
Inventories, net	16						$ 16		$ 10
Adjustment \| Product Exchanges Incorrectly Accounted For
Significant Accounting Policies [Line Items]
Net sales	$ 4

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

- Definition

The cumulative amount of the reporting entity's undistributed earnings or deficit.

+ References + Details

- 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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+ Details

SIGNIFICANT ACCOUNTING POLICIES - Corrections to the Consolidated Statements Of Operations (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net sales	$ 1,040			$ 883			$ 3,128	$ 2,263
Cost of products sold	471			451			1,385	1,174
Gross profit	569			432			1,743	1,089
Selling, general, and administrative expenses	395			313			1,174	929
Research and development expenses	39			29			122	85
Operating income	132			72			436	(144)
Interest expense, net	14			14			43	31
Other expense (income), net	5			1			4	4
Income (loss) before income taxes	113			57			389	(179)
Provision (benefit) for income taxes	29			9			97	(1)
Net income (loss)	84	$ 96	$ 112	48	$ (92)	$ (134)	292	(178)
Net income (loss) attributable to Dentsply Sirona	$ 84			$ 47			$ 292	$ (178)
Net income (loss) per common share attributable to Dentsply Sirona:
Earnings (loss) per common share - basic (in dollars per share)	$ 0.39			$ 0.22			$ 1.34	$ (0.81)
Earnings (loss) per common share - diluted (in dollars per share)	$ 0.38			$ 0.22			$ 1.32	$ (0.81)
As Previously Issued
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net sales	$ 1,069			$ 895			$ 3,163	$ 2,260
Cost of products sold	478			453			1,395	1,174
Gross profit	591			442			1,768	1,086
Selling, general, and administrative expenses	394			315			1,177	935
Research and development expenses	35			27			112	79
Operating income	159			82			468	(147)
Interest expense, net	13			14			43	32
Other expense (income), net	8			1
Income (loss) before income taxes	138			67			421	(183)
Provision (benefit) for income taxes	35			13			102	(1)
Net income (loss)	103			54			319	(182)
Net income (loss) attributable to Dentsply Sirona	$ 103			$ 53			$ 319	$ (182)
Net income (loss) per common share attributable to Dentsply Sirona:
Earnings (loss) per common share - basic (in dollars per share)	$ 0.47			$ 0.25			$ 1.46	$ (0.83)
Earnings (loss) per common share - diluted (in dollars per share)	$ 0.47			$ 0.25			$ 1.45	$ (0.83)
Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net sales	$ (29)			$ (12)			$ (35)	$ 3
Cost of products sold	(7)			(2)			(10)	0
Gross profit	(22)			(10)			(25)	3
Selling, general, and administrative expenses	1			(2)			(3)	(6)
Research and development expenses	4			2			10	6
Operating income	(27)			(10)			(32)	3
Interest expense, net	1			0			0	(1)
Other expense (income), net	(3)			0
Income (loss) before income taxes	(25)			(10)			(32)	4
Provision (benefit) for income taxes	(6)			(4)			(5)	0
Net income (loss)	(19)			(6)			(27)	4
Net income (loss) attributable to Dentsply Sirona	$ (19)			$ (6)			$ (27)	$ 4
Net income (loss) per common share attributable to Dentsply Sirona:
Earnings (loss) per common share - basic (in dollars per share)	$ (0.08)			$ (0.03)			$ (0.12)	$ 0.02
Earnings (loss) per common share - diluted (in dollars per share)	$ (0.09)			$ (0.03)			$ (0.13)	$ 0.02

SIGNIFICANT ACCOUNTING POLICIES - Corrections to the Consolidated Statements Of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income	$ 84	$ 96	$ 112	$ 48	$ (92)	$ (134)	$ 292	$ (178)
Total comprehensive income	28			115			189	(155)
Comprehensive income attributable to Dentsply Sirona	28			115			189	(155)
As Previously Issued
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income	103			54			319	(182)
Total comprehensive income	47			121			216	(159)
Comprehensive income attributable to Dentsply Sirona	47			121			216	(159)
Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income	(19)			(6)			(27)	4
Total comprehensive income	(19)			(6)			(27)	4
Comprehensive income attributable to Dentsply Sirona	$ (19)			$ (6)			$ (27)	$ 4

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

+ Details

SIGNIFICANT ACCOUNTING POLICIES - Corrections to the Consolidated Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts and notes receivables-trade, net	$ 732.0			$ 667.0
Inventories, net	548.0		$ 1.0	476.0
Prepaid expenses and other current assets	244.0			217.0
Total Current Assets	1,805.0			1,798.0
Other noncurrent assets	128.0			95.0
Total Assets	9,289.0			9,350.0
Accounts payable	271.0			302.0
Accrued liabilities	725.0			712.0
Income taxes payable	52.0			59.0
Total Current Liabilities	1,199.0			1,372.0
Operating lease liabilities	139.0			130.0
Deferred income taxes	401.0			381.0
Other noncurrent liabilities	562.0			554.0
Total Liabilities	4,226.0			4,415.0
Retained earnings	1,419.0			1,198.0
Total Dentsply Sirona Equity	5,060.0			4,932.0
Total Equity	5,063.0	$ 5,034.0	$ 4,890.0	4,935.0	$ 4,720.0	$ 4,608.0	$ 4,649.0	$ 5,048.0
Total Liabilities and Equity	9,289.0			9,350.0
As Previously Issued
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts and notes receivables-trade, net	748.0			673.0
Inventories, net	532.0			466.0
Prepaid expenses and other current assets	243.0			214.0
Total Current Assets	1,804.0			1,791.0
Other noncurrent assets	128.0			94.0
Total Assets	9,288.0			9,342.0
Accounts payable	276.0			305.0
Accrued liabilities	641.0			653.0
Income taxes payable	58.0			60.0
Total Current Liabilities	1,126.0			1,317.0
Deferred income taxes	413.0			393.0
Other noncurrent liabilities	560.0			554.0
Total Liabilities	4,163.0			4,372.0
Retained earnings	1,481.0			1,233.0
Total Dentsply Sirona Equity	5,122.0			4,967.0
Total Equity	5,125.0			4,970.0
Total Liabilities and Equity	9,288.0			9,342.0
Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts and notes receivables-trade, net	(16.0)			(6.0)
Inventories, net	16.0			10.0
Prepaid expenses and other current assets	1.0			3.0
Total Current Assets	1.0			7.0
Other noncurrent assets	0.0			1.0
Total Assets	1.0			8.0
Accounts payable	(5.0)			(3.0)
Accrued liabilities	84.0			59.0
Income taxes payable	(6.0)			(1.0)
Total Current Liabilities	73.0			55.0
Deferred income taxes	(12.0)			(12.0)
Other noncurrent liabilities	2.0			0.0
Total Liabilities	63.0			43.0
Retained earnings	(62.0)			(35.0)				$ 45.0
Total Dentsply Sirona Equity	(62.0)			(35.0)
Total Equity	(62.0)			(35.0)
Total Liabilities and Equity	$ 1.0			$ 8.0

SIGNIFICANT ACCOUNTING POLICIES - Corrections to the Consolidated Statement Of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income	$ 84.0	$ 96.0	$ 112.0	$ 48.0	$ (92.0)	$ (134.0)	$ 292.0	$ (178.0)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Other non-cash expense (income)							13.0	7.0
Changes in operating assets and liabilities, net of acquisitions:
Accounts and notes receivable-trade, net							(89.0)	150.0
Inventories, net							(88.0)	73.0
Prepaid expenses and other current assets							(24.0)	50.0
Accounts payable							(45.0)	(62.0)
Accrued liabilities							70.0	(66.0)
Income taxes							6.0	(9.0)
Other noncurrent liabilities							22.0	(14.0)
Net cash provided by operating activities							435.0	385.0
Cash flows from financing activities:
Other financing activities, net							(11.0)	(17.0)
Net cash (used in) provided by financing activities							(257.0)	491.0
As Previously Issued
Cash flows from operating activities:
Net income	103.0			54.0			319.0	(182.0)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Other non-cash expense (income)							12.0	9.0
Changes in operating assets and liabilities, net of acquisitions:
Accounts and notes receivable-trade, net							(98.0)	149.0
Inventories, net							(82.0)	74.0
Prepaid expenses and other current assets							(27.0)	50.0
Accounts payable							(39.0)	(65.0)
Accrued liabilities							41.0	(73.0)
Income taxes							11.0	(10.0)
Other noncurrent liabilities							20.0	(14.0)
Net cash provided by operating activities							435.0	372.0
Cash flows from financing activities:
Other financing activities, net							(11.0)	(4.0)
Net cash (used in) provided by financing activities							(257.0)	504.0
Adjustment
Cash flows from operating activities:
Net income	$ (19.0)			$ (6.0)			(27.0)	4.0
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Other non-cash expense (income)							1.0	(2.0)
Changes in operating assets and liabilities, net of acquisitions:
Accounts and notes receivable-trade, net							9.0	1.0
Inventories, net							(6.0)	(1.0)
Prepaid expenses and other current assets							3.0	0.0
Accounts payable							(6.0)	3.0
Accrued liabilities							29.0	7.0
Income taxes							(5.0)	1.0
Other noncurrent liabilities							2.0	0.0
Net cash provided by operating activities							0.0	13.0
Cash flows from financing activities:
Other financing activities, net							0.0	(13.0)
Net cash (used in) provided by financing activities							$ 0.0	$ (13.0)

SIGNIFICANT ACCOUNTING POLICIES - REVENUE RECOGNITION (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Deferred income	$ 59	$ 53

REVENUE (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
REVENUE (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 1,040	$ 883	$ 3,128	$ 2,263
Deferred income	59		59		$ 53
Prior year deferred revenue that was recognized in the current year			35
Receivables, allowance for credit loss	14		14		$ 18
Receivables, allowance for credit loss, writeoff			10
Receivables, allowance for credit loss, increase			2
United States \| Geographical Basis, Country of Sales
Disaggregation of Revenue [Line Items]
Net sales	384	312	1,094	758
Europe \| Geographical Basis, Country of Sales
Disaggregation of Revenue [Line Items]
Net sales	393	346	1,239	934
Rest of World \| Geographical Basis, Country of Sales
Disaggregation of Revenue [Line Items]
Net sales	263	225	795	571
Technology & Equipment segment
Disaggregation of Revenue [Line Items]
Net sales	612	497	1,824	1,327
Technology & Equipment segment \| Equipment & Instruments
Disaggregation of Revenue [Line Items]
Net sales	176	152	523	373
Technology & Equipment segment \| CAD/CAM
Disaggregation of Revenue [Line Items]
Net sales	147	97	403	296
Technology & Equipment segment \| Orthodontics
Disaggregation of Revenue [Line Items]
Net sales	63	52	212	119
Technology & Equipment segment \| Implants
Disaggregation of Revenue [Line Items]
Net sales	150	126	461	329
Technology & Equipment segment \| Healthcare
Disaggregation of Revenue [Line Items]
Net sales	76	70	225	210
Consumables segment
Disaggregation of Revenue [Line Items]
Net sales	428	386	1,304	936
Consumables segment \| Endodontic & Restorative
Disaggregation of Revenue [Line Items]
Net sales	313	268	953	642
Consumables segment \| Other Consumables
Disaggregation of Revenue [Line Items]
Net sales	$ 115	$ 118	$ 351	$ 294

STOCK COMPENSATION (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
STOCK COMPENSATION (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	$ 22	$ 16	$ 54	$ 35
Related deferred income tax benefit	2	2	6	4
Cost of products sold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	2	0	4	1
Selling, general, and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	19	15	48	33
Research and development expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock based compensation expense	$ 1	$ 1	$ 2	$ 1

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, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	$ 5,034	$ 4,890	$ 4,935	$ 4,608	$ 4,649	$ 5,048	$ 4,935	$ 5,048
Tax benefit (expense)		0
Net (decrease) increase in other comprehensive loss	(56)	43	(90)	67	68	(112)	(103)	23
Ending Balance	5,063	5,034	4,890	4,720	4,608	4,649	5,063	4,720
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	(511)	(554)	(464)	(646)	(714)	(602)	(464)	(602)
Other comprehensive (loss) income before reclassifications and tax impact	(50)	35	(68)	47	62	(108)
Tax benefit (expense)	(11)	3	(26)	17	5	(6)
Other comprehensive (loss) income, net of tax, before reclassifications	(61)	38	(94)	64	67	(114)
Amounts reclassified from accumulated other comprehensive income, net of tax	5	5	4	3	1	2
Net (decrease) increase in other comprehensive loss	(56)	43	(90)	67	68	(112)
Ending Balance	(567)	(511)	(554)	(579)	(646)	(714)	(567)	(579)
Foreign Currency Translation Gain (Loss)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	(249)	(286)	(187)	(414)	(489)	(370)	(187)	(370)
Other comprehensive (loss) income before reclassifications and tax impact	(59)	31	(74)	67	77	(117)
Tax benefit (expense)	(9)	6	(25)	17	(2)	(2)
Other comprehensive (loss) income, net of tax, before reclassifications	(68)	37	(99)	84	75	(119)
Amounts reclassified from accumulated other comprehensive income, net of tax	0	0	0	0	0	0
Net (decrease) increase in other comprehensive loss	(68)	37	(99)	84	75	(119)
Ending Balance	(317)	(249)	(286)	(330)	(414)	(489)	(317)	(330)
Gain (Loss) on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	(23)	(27)	(25)	(23)	(23)	(11)	(25)	(11)
Other comprehensive (loss) income before reclassifications and tax impact	6	3	(6)	(3)	0	(16)
Tax benefit (expense)	(1)	(2)	2	(2)	0	4
Other comprehensive (loss) income, net of tax, before reclassifications	5	1	(4)	(5)	0	(12)
Amounts reclassified from accumulated other comprehensive income, net of tax	3	3	2	1	0	0
Net (decrease) increase in other comprehensive loss	8	4	(2)	(4)	0	(12)
Ending Balance	(15)	(23)	(27)	(27)	(23)	(23)	(15)	(27)
Gain (Loss) on Net Investment and Fair Value Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	(112)	(112)	(119)	(92)	(84)	(101)	(119)	(101)
Other comprehensive (loss) income before reclassifications and tax impact	3	1	9	(17)	(15)	25
Tax benefit (expense)	(1)	(1)	(2)	2	7	(8)
Other comprehensive (loss) income, net of tax, before reclassifications	2	0	7	(15)	(8)	17
Amounts reclassified from accumulated other comprehensive income, net of tax	0	0	0	0	0	0
Net (decrease) increase in other comprehensive loss	2	0	7	(15)	(8)	17
Ending Balance	(110)	(112)	(112)	(107)	(92)	(84)	(110)	(107)
Pension Liability Gain (Loss)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	(127)	(129)	(133)	(117)	(118)	(120)	(133)	(120)
Other comprehensive (loss) income before reclassifications and tax impact	0	0	3	0	0	0
Tax benefit (expense)	0		(1)	0	0	0
Other comprehensive (loss) income, net of tax, before reclassifications	0	0	2	0	0	0
Amounts reclassified from accumulated other comprehensive income, net of tax	2	2	2	2	1	2
Net (decrease) increase in other comprehensive loss	2	2	4	2	1	2
Ending Balance	$ (125)	$ (127)	$ (129)	$ (115)	$ (117)	$ (118)	$ (125)	$ (115)

COMPREHENSIVE INCOME (LOSS) - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 5,063	$ 5,034	$ 4,890	$ 4,935	$ 4,720	$ 4,608	$ 4,649	$ 5,048
Foreign Currency Translation Gain (Loss)
Derivative [Line Items]
Foreign currency tax adjustment	182			216
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(317)	$ (249)	$ (286)	(187)	$ (330)	$ (414)	$ (489)	$ (370)
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest, Translation Gain (Loss)
Derivative [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(113)			(25)
Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest, Net Investment Hedges
Derivative [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ (204)			$ (162)

- 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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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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Basic Earnings Per Common Share Computation
Net income (loss) attributable to Dentsply Sirona	$ 84	$ 47	$ 292	$ (178)
Weighted average common shares outstanding (in shares)	218.6	218.5	218.6	219.4
Earnings (loss) per common share - basic (in dollars per share)	$ 0.39	$ 0.22	$ 1.34	$ (0.81)
Diluted Earnings Per Common Share Computation
Net income (loss) attributable to Dentsply Sirona	$ 84	$ 47	$ 292	$ (178)
Weighted average common shares outstanding (in shares)	218.6	218.5	218.6	219.4
Incremental weighted average shares from assumed exercise of dilutive options from stock-based compensation awards (in shares)	1.9	0.7	2.1	0.0
Total weighted average diluted shares outstanding (in shares)	220.5	219.2	220.7	219.4
Earnings (loss) per common share - diluted (in dollars per share)	$ 0.38	$ 0.22	$ 1.32	$ (0.81)

- 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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+ Details

EARNINGS PER COMMON SHARE - ADDITIONAL INFORMATION (Details) - USD ($) $ / shares in Thousands, shares in Millions, $ in Millions	3 Months Ended					9 Months Ended
	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Jul. 28, 2021
Earnings Per Share [Line Items]
Antidilutive common stock options not included in the computation of diluted earnings per common share (in shares)	0.9		3.5
Earnings per share, potentially dilutive securities excluded from computation of earnings per share (in shares)							0.9
Treasury stock, shares, acquired (in shares)						1.5
Treasury shares purchased		$ 90		$ 0	$ 140	$ 90
Treasury stock acquired, average cost per share (in usd per share)						$ 60,620
Stock repurchase program, authorized amount								$ 1,000
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)						0.9
Common Stock
Earnings Per Share [Line Items]
Antidilutive common stock options not included in the computation of diluted earnings per common share (in shares)							3.2

BUSINESS COMBINATIONS - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions								3 Months Ended	9 Months Ended
	Jul. 01, 2021	Jun. 04, 2021	Jun. 01, 2021	Apr. 01, 2021	Feb. 01, 2021	Jan. 21, 2021	Dec. 31, 2020	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021
Business Acquisition [Line Items]
Intangible assets											$ 3
Goodwill							$ 3,986	$ 4,000	$ 4,000
Proceeds from divestiture of business									27	$ 0
Gain on sale of business									14	$ 0
UNITED KINGDOM
Business Acquisition [Line Items]
Payments to acquire equity method investments		$ 16
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Digital Dentistry Business
Business Acquisition [Line Items]
Proceeds from divestiture of business				$ 8
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Investment Casting Business
Business Acquisition [Line Items]
Proceeds from divestiture of business					$ 19
Gain on sale of business									13
Dental Business \| SWITZERLAND
Business Acquisition [Line Items]
Total acquisition consideration	$ 7
Other current assets											4
Intangible assets											3
Other long term liabilities											1
Fair value of the previously-held interest	$ 4
Goodwill											$ 5
Propel Orthodontics
Business Acquisition [Line Items]
Other current assets			$ 4
Intangible assets			66
Goodwill			63
Payments to acquire businesses, gross			$ 132
Reduction in goodwill (less than)								$ 2
Datum Dental, Ltd
Business Acquisition [Line Items]
Total acquisition consideration						$ 103
Other current assets						2
Intangible assets						76
Goodwill						39
Payments to acquire businesses, gross						94
Reduction in goodwill (less than)									(6)
Business combination, contingent consideration arrangements, range of outcomes, value, high						$ 10
Percentage of voting interest acquired						100.00%
Additional consideration based on earn out						$ 9
Straight Smile LLC
Business Acquisition [Line Items]
Intangible assets							416
Goodwill							626
Payments to acquire businesses, gross							$ 1,000
Reduction in goodwill (less than)									$ 5
Percentage of voting interest acquired							100.00%

BUSINESS COMBINATIONS - FAIR VALUES OF ASSETS ACQUIRED AND LIABILITIES ASSUMED (Details) - USD ($) $ in Millions	Sep. 30, 2021	Jun. 30, 2021	Jun. 01, 2021	Jan. 21, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Intangible assets		$ 3
Goodwill	$ 4,000				$ 3,986
Propel Orthodontics
Business Acquisition [Line Items]
Other current assets			$ 4
Intangible assets			66
Current liabilities			(1)
Net assets acquired			69
Goodwill			63
Purchase consideration			$ 132
Datum Dental, Ltd
Business Acquisition [Line Items]
Cash and cash equivalents				$ 2
Other current assets				2
Intangible assets				76
Current liabilities				(2)
Other long-term assets (liabilities), net				(14)
Net assets acquired				64
Goodwill				39
Purchase consideration				$ 103
Straight Smile LLC
Business Acquisition [Line Items]
Cash and cash equivalents					14
Current assets					17
Intangible assets					416
Current liabilities					(28)
Net assets acquired					419
Goodwill					626
Purchase consideration					$ 1,045

BUSINESS COMBINATIONS - SUMMARY OF INTANGIBLE ASSETS (Details) - USD ($) $ in Millions	Jul. 01, 2021	Jun. 01, 2021	Jan. 21, 2021	Dec. 31, 2020	Jun. 30, 2021
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible assets					$ 3
Datum Dental, Ltd
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible assets			$ 76
Propel Orthodontics
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible assets		$ 66
Straight Smile LLC
Acquired Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired, amount				$ 416
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible assets				416
In-process R&D
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets acquired, amount	$ 3
In-process R&D \| Datum Dental, Ltd
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets acquired, amount			10
Developed technology \| Datum Dental, Ltd
Acquired Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired, amount			$ 66
Weighted average useful life (in years)			15 years
Developed technology \| Propel Orthodontics
Acquired Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired, amount		$ 66
Weighted average useful life (in years)		10 years
Non-compete agreements \| Straight Smile LLC
Acquired Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired, amount				$ 16
Weighted average useful life (in years)				5 years
Technology know-how \| Straight Smile LLC
Acquired Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired, amount				$ 210
Weighted average useful life (in years)				10 years
Tradenames and trademarks \| Straight Smile LLC
Acquired Indefinite-lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired, amount				$ 190
Weighted average useful life (in years)				20 years

SEGMENT INFORMATION - ADDITIONAL INFORMATION (Details)	9 Months Ended
SEGMENT INFORMATION - ADDITIONAL INFORMATION (Details)	Sep. 30, 2021 segment
Segment Reporting [Abstract]
Number of operating groups	2

SEGMENT INFORMATION - THIRD PARTY NET SALES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue, Major Customer [Line Items]
Net sales	$ 1,040	$ 883	$ 3,128	$ 2,263
Technologies & Equipment
Revenue, Major Customer [Line Items]
Net sales	612	497	1,824	1,327
Consumables
Revenue, Major Customer [Line Items]
Net sales	$ 428	$ 386	$ 1,304	$ 936

- Definition

+ References

+ Details

SEGMENT INFORMATION - SEGMENT ADJUSTED OPERATING INCOME (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2020	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Reconciling items expense (income):
Segment adjusted operating income (loss)	$ 132	$ 72			$ 436	$ (144)
Goodwill impairment	0	0			0	157
Other expense (income), net	5	1			4	4
Amortization of intangible assets					167	143
Income (loss) before income taxes	113	57			389	(179)
As Previously Issued
Reconciling items expense (income):
Segment adjusted operating income (loss)	159	82			468	(147)
All other		(33)		$ (34)
Other expense (income), net	8	1
Income (loss) before income taxes	138	67			421	(183)
Technologies & Equipment
Reconciling items expense (income):
Goodwill impairment			$ 157
Operating Segments
Reconciling items expense (income):
Segment adjusted operating income (loss)	257	236			817	397
Operating Segments \| Technologies & Equipment
Reconciling items expense (income):
Segment adjusted operating income (loss)	134	122			391	231
Operating Segments \| Consumables
Reconciling items expense (income):
Segment adjusted operating income (loss)	123	114			426	166
All Other
Reconciling items expense (income):
All other	67	95			199	174
Segment Reconciling Items
Reconciling items expense (income):
Goodwill impairment	0	0			0	157
Restructuring and other costs	3	18			11	62
Interest expense, net	14	14			43	31
Other expense (income), net	5	1			4	4
Amortization of intangible assets	56	49			167	143
Depreciation and other adjustments resulting from the fair value step-up of property, plant, and equipment from business combinations	$ (1)	$ 2			$ 4	$ 5

INVENTORIES - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Inventory valuation reserve	$ 89	$ 117

INVENTORIES - SUMMARY OF INVENTORY (Details) - USD ($) $ in Millions	Sep. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Finished goods	$ 343		$ 274
Work-in-process	73		68
Raw materials and supplies	132		134
Inventories, net	$ 548	$ 1	$ 476

RESTRUCTURING AND OTHER COSTS - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Aug. 06, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring costs and asset impairment charges (benefit)		$ 6	$ 52	$ 14	$ 96
Severance costs		6	16	17	21
Adjustments to inventory reserves				(3)
Inventory write-down			25		25
Fixed asset impairment			2		41
Restructuring and related cost, accelerated depreciation			$ 9		$ 9
Inventory adjustments		4		4
August 2020 Plan
Restructuring Cost and Reserve [Line Items]
Severance costs				2
Total restructuring and other costs	$ 58
Inventory adjustments		$ 3		$ 3
August 2020 Plan \| Inventory Write-Down
Restructuring Cost and Reserve [Line Items]
Total restructuring and other costs	28
August 2020 Plan \| Fixed Asset Depreciation
Restructuring Cost and Reserve [Line Items]
Total restructuring and other costs	14
August 2020 Plan \| Severance
Restructuring Cost and Reserve [Line Items]
Total restructuring and other costs	11
Minimum \| August 2020 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	$ 60
Minimum \| August 2020 Plan \| Facility Closing
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, number of positions eliminated, period percent	4.00%
Maximum \| August 2020 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	$ 70
Maximum \| August 2020 Plan \| Facility Closing
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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restructuring Cost and Reserve [Line Items]
Total restructuring and other costs	$ 6	$ 52	$ 14	$ 96
Cost of products sold
Restructuring Cost and Reserve [Line Items]
Total restructuring and other costs	0	33	(3)	33
Selling, general, and administrative expenses
Restructuring Cost and Reserve [Line Items]
Total restructuring and other costs	3	1	6	1
Restructuring and other costs
Restructuring Cost and Reserve [Line Items]
Total restructuring and other costs	$ 3	$ 18	$ 11	$ 62

RESTRUCTURING AND OTHER COSTS - RESTRUCTURING ACCURALS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restructuring Reserve [Roll Forward]
Provisions	$ 3.0	$ 18.0	$ 11.0	$ 62.0
2021 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			34.0
Provisions			21.0
Amounts applied			(30.0)
Change in estimates			(7.0)
Ending Balance	18.0		18.0
Severance
Restructuring Reserve [Roll Forward]
Beginning Balance			29.0
Provisions			13.0
Amounts applied			(22.0)
Change in estimates			(6.0)
Ending Balance	14.0		14.0
Severance \| 2019 and Prior Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			12.0
Provisions			2.0
Amounts applied			(8.0)
Change in estimates			(1.0)
Ending Balance	5.0		5.0
Severance \| 2020 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			17.0
Provisions			4.0
Amounts applied			(11.0)
Change in estimates			(5.0)
Ending Balance	5.0		5.0
Severance \| 2021 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			0.0
Provisions			7.0
Amounts applied			(3.0)
Change in estimates			0.0
Ending Balance	4.0		4.0
Other Restructuring Costs
Restructuring Reserve [Roll Forward]
Beginning Balance			5.0
Provisions			8.0
Amounts applied			(8.0)
Change in estimates			(1.0)
Ending Balance	4.0		4.0
Other Restructuring Costs \| 2019 and Prior Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			3.0
Provisions			2.0
Amounts applied			(2.0)
Change in estimates			0.0
Ending Balance	3.0		3.0
Other Restructuring Costs \| 2020 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			2.0
Provisions			3.0
Amounts applied			(4.0)
Change in estimates			(1.0)
Ending Balance	0.0		0.0
Other Restructuring Costs \| 2021 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			0.0
Provisions			3.0
Amounts applied			(2.0)
Change in estimates			0.0
Ending Balance	$ 1.0		$ 1.0

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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restructuring Reserve [Roll Forward]
Provisions	$ 3	$ 18	$ 11	$ 62
2021 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			34
Provisions			21
Amounts applied			(30)
Change in estimates			(7)
Ending Balance	18		18
Operating Segments \| Technologies & Equipment \| 2021 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			16
Provisions			6
Amounts applied			(13)
Change in estimates			(5)
Ending Balance	4		4
Operating Segments \| Consumables \| 2021 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			17
Provisions			12
Amounts applied			(14)
Change in estimates			(2)
Ending Balance	13		13
All Other \| 2021 Plans
Restructuring Reserve [Roll Forward]
Beginning Balance			1
Provisions			3
Amounts applied			(3)
Change in estimates			0
Ending Balance	$ 1		$ 1

FINANCIAL INSTRUMENTS AND DERIVATIVES - SUMMARY OF DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Millions	Sep. 30, 2021	Jun. 30, 2021
Interest rate swaps
Derivative [Line Items]
Aggregate Notional Amount		$ 250
Derivative Instruments not Designated as Hedges
Derivative [Line Items]
Aggregate Notional Amount	$ 342
Aggregate Notional Amount Maturing within 12 Months	342
Derivative Instruments not Designated as Hedges \| Foreign exchange forward contracts
Derivative [Line Items]
Aggregate Notional Amount	342
Aggregate Notional Amount Maturing within 12 Months	342
Cash Flow Hedges \| Designated as Hedging Instrument
Derivative [Line Items]
Aggregate Notional Amount	323
Aggregate Notional Amount Maturing within 12 Months	246
Cash Flow Hedges \| Designated as Hedging Instrument \| Foreign exchange forward contracts
Derivative [Line Items]
Aggregate Notional Amount	323
Aggregate Notional Amount Maturing within 12 Months	246
Hedges of Net Investments \| Designated as Hedging Instrument
Derivative [Line Items]
Aggregate Notional Amount	494
Aggregate Notional Amount Maturing within 12 Months	93
Hedges of Net Investments \| Designated as Hedging Instrument \| Foreign exchange forward contracts
Derivative [Line Items]
Aggregate Notional Amount	185
Aggregate Notional Amount Maturing within 12 Months	93
Hedges of Net Investments \| Designated as Hedging Instrument \| Cross currency basis swaps
Derivative [Line Items]
Aggregate Notional Amount	309
Aggregate Notional Amount Maturing within 12 Months	0
Fair Value Hedges \| Designated as Hedging Instrument
Derivative [Line Items]
Aggregate Notional Amount	467
Aggregate Notional Amount Maturing within 12 Months	134
Fair Value Hedges \| Designated as Hedging Instrument \| Foreign exchange forward contracts
Derivative [Line Items]
Aggregate Notional Amount	217
Aggregate Notional Amount Maturing within 12 Months	134
Fair Value Hedges \| Designated as Hedging Instrument \| Interest rate swaps
Derivative [Line Items]
Aggregate Notional Amount	250
Aggregate Notional Amount Maturing within 12 Months	$ 0

FINANCIAL INSTRUMENTS AND DERIVATIVES - ADDITIONAL INFORMATION (Details) € in Millions, $ in Millions, kr in Billions			3 Months Ended		9 Months Ended
	Jul. 02, 2021 USD ($)	Jul. 01, 2021	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2021 USD ($)	May 25, 2021 EUR (€) performancePeriod	Jan. 06, 2021 SEK (kr)
Derivative [Line Items]
Repayments of long-term debt					$ 297	$ 701
Senior Unsecured Notes Maturing June 1, 2030 \| Senior Notes
Derivative [Line Items]
Debt instrument, interest rate, stated percentage	1.70%		3.30%		3.30%		3.30%
Debt instrument, face amount			$ 750		$ 750		$ 750
Fixed Rate Senior Notes Due August 2021 \| Senior Notes
Derivative [Line Items]
Repayments of long-term debt	$ 296
Designated as Hedging Instrument \| Hedges of Net Investments
Derivative [Line Items]
Gain (loss) in AOCI			(3)	$ 17	(13)	$ 7
Aggregate Notional Amount			494		494
Cross currency basis swaps \| Designated as Hedging Instrument
Derivative [Line Items]
Gain (loss) in AOCI					1
Cross currency basis swaps \| Designated as Hedging Instrument \| Hedges of Net Investments
Derivative [Line Items]
Aggregate Notional Amount			$ 309		$ 309
Foreign exchange forward contracts
Derivative [Line Items]
Derivative, term of contract					18 months
Aggregate Notional Amount \| kr									kr 1.3
Foreign exchange forward contracts \| Designated as Hedging Instrument \| Hedges of Net Investments
Derivative [Line Items]
Foreign exchange forward contracts \| performancePeriod								8
Aggregate Notional Amount \| €								€ 10
Interest rate swaps
Derivative [Line Items]
Aggregate Notional Amount							250
Interest Rate Swap Maturing June 1, 2026
Derivative [Line Items]
Derivative, term of contract		5 years
Aggregate Notional Amount							100
Interest Rate Swap Maturing March 1, 2030
Derivative [Line Items]
Derivative, term of contract		9 years
Aggregate Notional Amount							$ 150
Cross Currency Interest Rate Contract
Derivative [Line Items]
Aggregate Notional Amount	$ 300

FINANCIAL INSTRUMENTS AND DERIVATIVES - DERIVATIVE INSTRUMENTS - GAIN (LOSS) RECORDED IN AOCI IN THE CONSOLIDATED BALANCE SHEETS (Details) - Designated as Hedging Instrument - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Cross currency basis swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in AOCI			$ (1)
Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in AOCI	$ 6	$ (3)	3	$ (19)
Effective Portion Reclassified from AOCI into Income (Expense)	(3)	(1)	(8)	(1)
Recognized in Income (Expense)	0	1	1	2
Cash Flow Hedges \| Foreign exchange forward contracts \| Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in AOCI	6	(6)	3	(2)
Effective Portion Reclassified from AOCI into Income (Expense)	(2)	1	(4)	2
Recognized in Income (Expense)	0	1	1	2
Cash Flow Hedges \| Interest rate swaps \| Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in AOCI	0	3	0	(17)
Effective Portion Reclassified from AOCI into Income (Expense)	(1)	(2)	(4)	(3)
Recognized in Income (Expense)	0	0	0	0
Hedges of Net Investments
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in AOCI	3	(17)	13	(7)
Effective Portion Reclassified from AOCI into Income (Expense)	0	0	0	0
Recognized in Income (Expense)	1	2	5	13
Hedges of Net Investments \| Foreign exchange forward contracts \| Other expense (income), net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in AOCI	4		7	6
Effective Portion Reclassified from AOCI into Income (Expense)	0		0	0
Recognized in Income (Expense)	0		0	6
Hedges of Net Investments \| Cross currency basis swaps \| Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in AOCI	(1)	(17)	6	(13)
Effective Portion Reclassified from AOCI into Income (Expense)	0	0	0	0
Recognized in Income (Expense)	1	$ 2	5	$ 7
Fair Value Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in AOCI	0		0
Effective Portion Reclassified from AOCI into Income (Expense)	0		0
Recognized in Income (Expense)	7		19
Fair Value Hedges \| Foreign exchange forward contracts \| Other expense (income), net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in AOCI	0		0
Effective Portion Reclassified from AOCI into Income (Expense)	0		0
Recognized in Income (Expense)	6		18
Fair Value Hedges \| Interest rate swaps \| Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in AOCI	0		0
Effective Portion Reclassified from AOCI into Income (Expense)	0		0
Recognized in Income (Expense)	$ 1		$ 1

FINANCIAL INSTRUMENTS AND DERIVATIVES - BALANCE SHEET ALLOCATION (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	$ 31.0	$ 9.0
Gross liability amount recognized for derivative instruments designated as hedges	23.0	35.0
Interest rate swaps
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	3.0
Gross liability amount recognized for derivative instruments designated as hedges	5.0	20.0
Cross currency basis swaps
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	3.0
Gross liability amount recognized for derivative instruments designated as hedges	14.0
Prepaid Expenses and Other Current Assets
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	19.0	5.0
Gross asset amount recognized for derivative instruments not designated as hedges	1.0	3.0
Prepaid Expenses and Other Current Assets \| Foreign exchange forward contracts
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	13.0	5.0
Gross asset amount recognized for derivative instruments not designated as hedges	1.0	3.0
Prepaid Expenses and Other Current Assets \| Interest rate swaps \| Designated as Hedging Instrument
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	3.0
Prepaid Expenses and Other Current Assets \| Cross currency basis swaps
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	3.0	0.0
Other Noncurrent Assets
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	11.0	2.0
Gross asset amount recognized for derivative instruments not designated as hedges	0.0	0.0
Other Noncurrent Assets \| Foreign exchange forward contracts
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	11.0	2.0
Gross asset amount recognized for derivative instruments not designated as hedges	0.0	0.0
Other Noncurrent Assets \| Interest rate swaps \| Designated as Hedging Instrument
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	0.0
Other Noncurrent Assets \| Cross currency basis swaps
Derivative [Line Items]
Gross asset amount recognized for derivative instruments designated as hedges	0.0	0.0
Accrued Liabilities
Derivative [Line Items]
Gross liability amount recognized for derivative instruments designated as hedges	2.0	30.0
Gross liability amount recognized for derivative instruments not designated as hedges	2.0	2.0
Accrued Liabilities \| Foreign exchange forward contracts
Derivative [Line Items]
Gross liability amount recognized for derivative instruments designated as hedges	2.0	10.0
Gross liability amount recognized for derivative instruments not designated as hedges	2.0	2.0
Accrued Liabilities \| Interest rate swaps \| Designated as Hedging Instrument
Derivative [Line Items]
Gross liability amount recognized for derivative instruments designated as hedges	0.0
Accrued Liabilities \| Cross currency basis swaps
Derivative [Line Items]
Gross liability amount recognized for derivative instruments designated as hedges	0.0	20.0
Other Noncurrent Liabilities
Derivative [Line Items]
Gross liability amount recognized for derivative instruments designated as hedges	19.0	3.0
Gross liability amount recognized for derivative instruments not designated as hedges	0.0	0.0
Other Noncurrent Liabilities \| Foreign exchange forward contracts
Derivative [Line Items]
Gross liability amount recognized for derivative instruments designated as hedges	0.0	3.0
Gross liability amount recognized for derivative instruments not designated as hedges	0.0	0.0
Other Noncurrent Liabilities \| Interest rate swaps \| Designated as Hedging Instrument
Derivative [Line Items]
Gross liability amount recognized for derivative instruments designated as hedges	5.0
Other Noncurrent Liabilities \| Cross currency basis swaps
Derivative [Line Items]
Gross liability amount recognized for derivative instruments designated as hedges	$ 14.0	$ 0.0

FINANCIAL INSTRUMENTS AND DERIVATIVES - BALANCE SHEET OFFSETTING (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Assets
Gross Amounts Recognized	$ 31.0	$ 9.0
Gross Amount Offset in the Consolidated Balance Sheets	0.0	0.0
Net Amounts Presented in the Consolidated Balance Sheets	31.0	9.0
Financial Instruments	(16.0)	(9.0)
Cash Collateral Received/Pledged	0.0	0.0
Net Amount	15.0	0.0
Liabilities
Gross Amounts Recognized	23.0	35.0
Gross Amount Offset in the Consolidated Balance Sheets	0.0	0.0
Net Amounts Presented in the Consolidated Balance Sheets	23.0	35.0
Financial Instruments	(16.0)	(7.0)
Cash Collateral Received/Pledged	0.0	0.0
Net Amount	7.0	28.0
Foreign exchange forward contracts
Assets
Gross Amounts Recognized	25.0	9.0
Gross Amount Offset in the Consolidated Balance Sheets	0.0	0.0
Net Amounts Presented in the Consolidated Balance Sheets	25.0	9.0
Financial Instruments	(10.0)	(9.0)
Cash Collateral Received/Pledged	0.0	0.0
Net Amount	15.0	0.0
Liabilities
Gross Amounts Recognized	4.0	15.0
Gross Amount Offset in the Consolidated Balance Sheets	0.0	0.0
Net Amounts Presented in the Consolidated Balance Sheets	4.0	15.0
Financial Instruments	(3.0)	0.0
Cash Collateral Received/Pledged	0.0	0.0
Net Amount	1.0	15.0
Interest rate swaps
Assets
Gross Amounts Recognized	3.0
Gross Amount Offset in the Consolidated Balance Sheets	0.0
Net Amounts Presented in the Consolidated Balance Sheets	3.0
Financial Instruments	(3.0)
Cash Collateral Received/Pledged	0.0
Net Amount	0.0
Liabilities
Gross Amounts Recognized	5.0	20.0
Gross Amount Offset in the Consolidated Balance Sheets	0.0	0.0
Net Amounts Presented in the Consolidated Balance Sheets	5.0	20.0
Financial Instruments	(3.0)	(7.0)
Cash Collateral Received/Pledged	0.0	0.0
Net Amount	2.0	$ 13.0
Cross currency basis swaps
Assets
Gross Amounts Recognized	3.0
Gross Amount Offset in the Consolidated Balance Sheets	0.0
Net Amounts Presented in the Consolidated Balance Sheets	3.0
Financial Instruments	(3.0)
Cash Collateral Received/Pledged	0.0
Net Amount	0.0
Liabilities
Gross Amounts Recognized	14.0
Gross Amount Offset in the Consolidated Balance Sheets	0.0
Net Amounts Presented in the Consolidated Balance Sheets	14.0
Financial Instruments	(10.0)
Cash Collateral Received/Pledged	0.0
Net Amount	$ 4.0

FAIR VALUE MEASUREMENT - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Estimate of Fair Value, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 2,227	$ 2,509
Carrying (Reported) Amount, Fair Value Disclosure
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 2,076	$ 2,281

FAIR VALUE MEASUREMENT - ASSETS AND LIABILITIES, RECURRING (Details) - Fair Value, Recurring - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	$ 33.0	$ 10.0
Liabilities	34.0	40.0
Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	3.0
Liabilities	5.0
Cross currency basis swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	3.0
Liabilities	14.0	20.0
Foreign exchange forward contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	25.0	10.0
Liabilities	4.0	15.0
Long-term debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	2.0
Contingent considerations on acquisitions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	11.0	5.0
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Level 1 \| Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0.0
Liabilities	0.0
Level 1 \| Cross currency basis swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	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 \| Long-term debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	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	33.0	10.0
Liabilities	23.0	35.0
Level 2 \| Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	3.0
Liabilities	5.0
Level 2 \| Cross currency basis swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	3.0
Liabilities	14.0	20.0
Level 2 \| Foreign exchange forward contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	25.0	10.0
Liabilities	4.0	15.0
Level 2 \| Long-term debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	2.0
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	11.0	5.0
Level 3 \| Interest rate swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0.0
Liabilities	0.0
Level 3 \| Cross currency basis swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0.0
Liabilities	0.0	0.0
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 \| Long-term debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets	0.0
Level 3 \| Contingent considerations on acquisitions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities	$ 11.0	$ 5.0

INCOME TAXES - ADDITIONAL INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Tax expense (benefit) for other discrete tax matters	$ 4	$ 2

FINANCING ARRANGEMENTS (Details) - USD ($)		9 Months Ended
FINANCING ARRANGEMENTS (Details) - USD ($)	Jul. 02, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Line of Credit Facility [Line Items]
Borrowings available under lines of credit		$ 607,000,000
Notes payable and current portion of long-term debt		151,000,000		$ 299,000,000
Repayments of long-term debt		297,000,000	$ 701,000,000
Line of Credit \| Commercial paper
Line of Credit Facility [Line Items]
Maximum borrowing capacity		500,000,000
Notes payable and current portion of long-term debt		$ 139,000,000		0
Debt, weighted average interest rate		0.20%
Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 700,000,000
Notes payable and current portion of long-term debt		$ 0		$ 0
Senior Notes \| Fixed Rate Senior Notes Due August 2021
Line of Credit Facility [Line Items]
Repayments of long-term debt	$ 296,000,000

GOODWILL AND INTANGIBLE ASSETS - NARRATIVE (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Goodwill [Line Items]
Goodwill impairment	$ 0		$ 0		$ 0	$ 157
Indefinite-lived intangible asset impairment					0	$ 39
Developed technology and patents
Goodwill [Line Items]
Payments to acquire intangible assets		$ 3
Asset Acquisition, Contingent Consideration, Liability	$ 17				$ 17
Technologies & Equipment
Goodwill [Line Items]
Goodwill impairment				$ 157
Technologies & Equipment \| Equipment and Instruments Reporting Unit
Goodwill [Line Items]
Indefinite-lived intangible asset impairment				$ 39

GOODWILL AND INTANGIBLE ASSETS - RECONCILIATION OF CHANGES IN GOODWILL (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021 USD ($)
Goodwill [Roll Forward]
Goodwill, Gross	$ 6,879
Goodwill, Impaired, Accumulated Impairment Loss	(2,893)
Goodwill, net, beginning of the year	3,986
Acquisition related additions	107
Translation and other	(93)
Goodwill, Gross	6,893
Goodwill, Impaired, Accumulated Impairment Loss	(2,893)
Goodwill, net, end of the year	4,000
Technologies & Equipment
Goodwill [Roll Forward]
Goodwill, Gross	5,985
Goodwill, Impaired, Accumulated Impairment Loss	(2,893)
Goodwill, net, beginning of the year	3,092
Acquisition related additions	107
Translation and other	(140)
Goodwill, Gross	5,952
Goodwill, Impaired, Accumulated Impairment Loss	(2,893)
Goodwill, net, end of the year	3,059
Consumables
Goodwill [Roll Forward]
Goodwill, Gross	894
Goodwill, Impaired, Accumulated Impairment Loss	0
Goodwill, net, beginning of the year	894
Acquisition related additions	0
Translation and other	47
Goodwill, Gross	941
Goodwill, Impaired, Accumulated Impairment Loss	0
Goodwill, net, end of the year	$ 941

GOODWILL AND INTANGIBLE ASSETS - IDENTIFIABLE DEFINITE-LIVED AND INDEFINITE-LIVED INTANGIBLE ASSETS (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived tradenames and trademarks	$ 623	$ 642
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,162	3,133
Accumulated Amortization	(1,383)	(1,271)
Net Carrying Amount	1,779	1,862
Total identifiable intangible assets, Gross Carrying Amount	3,785	3,775
Identifiable intangible assets, net	2,402	2,504
Tradenames and trademarks
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived tradenames and trademarks	610	642
In-process R&D
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived tradenames and trademarks	13	0
Developed technology and patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,752	1,681
Accumulated Amortization	(743)	(677)
Net Carrying Amount	1,009	1,004
Tradenames and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	269	273
Accumulated Amortization	(76)	(70)
Net Carrying Amount	193	203
Licensing agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	36	37
Accumulated Amortization	(31)	(30)
Net Carrying Amount	5	7
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,105	1,142
Accumulated Amortization	(533)	(494)
Net Carrying Amount	$ 572	$ 648

COMMITMENTS AND CONTINGENCIES (Details)			2 Months Ended	9 Months Ended
COMMITMENTS AND CONTINGENCIES (Details)	Nov. 05, 2018 USD ($)	Nov. 04, 2018 USD ($)	Aug. 09, 2018 lawsuit	Sep. 30, 2021 USD ($)	Jun. 07, 2018 distributor
Loss Contingencies [Line Items]
Loss contingency, new claims filed, number \| lawsuit			2
Number of distributors \| distributor					3
Income tax effects allocated directly to equity, employee stock options				$ 546,000,000
Tax Year 2014 \| IRS
Loss Contingencies [Line Items]
Income tax penalties				17,000,000
Swedish Tax Agency
Loss Contingencies [Line Items]
Income tax examination, estimate of possible loss	$ 12,000,000	$ 49,000,000
IRS \| Tax Year 2012
Loss Contingencies [Line Items]
Liability (refund) from income tax examination				(5,000,000)
IRS \| Tax Year 2013
Loss Contingencies [Line Items]
Liability (refund) from income tax examination				$ 0