XRAY

2022FYFalse0000818479http://fasb.org/us-gaap/2022#PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortizationhttp://fasb.org/us-gaap/2022#PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortizationhttp://fasb.org/us-gaap/2022#DebtCurrenthttp://fasb.org/us-gaap/2022#DebtCurrenthttp://fasb.org/us-gaap/2022#AccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2022#AccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2022#LongTermDebtNoncurrenthttp://fasb.org/us-gaap/2022#LongTermDebtNoncurrenthttp://fasb.org/us-gaap/2022#OtherNonoperatingIncomeExpensehttp://fasb.org/us-gaap/2022#OtherNonoperatingIncomeExpensehttp://fasb.org/us-gaap/2022#OtherNonoperatingIncomeExpensehttp://fasb.org/us-gaap/2022#OtherNonoperatingIncomeExpensehttp://fasb.org/us-gaap/2022#OtherNonoperatingIncomeExpensehttp://fasb.org/us-gaap/2022#OtherAssetsNoncurrent http://fasb.org/us-gaap/2022#PrepaidExpenseAndOtherAssetsCurrenthttp://fasb.org/us-gaap/2022#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2022#OtherLiabilitiesNoncurrent00008184792022-01-012022-12-3100008184792022-06-30iso4217:USD00008184792023-02-16xbrli:shares00008184792021-01-012021-12-3100008184792020-01-012020-12-31iso4217:USDxbrli:shares00008184792022-12-3100008184792021-12-310000818479us-gaap:CommonStockMember2019-12-310000818479us-gaap:AdditionalPaidInCapitalMember2019-12-310000818479us-gaap:RetainedEarningsMember2019-12-310000818479us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310000818479us-gaap:TreasuryStockCommonMember2019-12-310000818479us-gaap:ParentMember2019-12-310000818479us-gaap:NoncontrollingInterestMember2019-12-3100008184792019-12-310000818479us-gaap:RetainedEarningsMember2020-01-012020-12-310000818479us-gaap:ParentMember2020-01-012020-12-310000818479us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-12-310000818479us-gaap:NoncontrollingInterestMember2020-01-012020-12-310000818479us-gaap:AdditionalPaidInCapitalMember2020-01-012020-12-310000818479us-gaap:TreasuryStockCommonMember2020-01-012020-12-310000818479us-gaap:CommonStockMember2020-12-310000818479us-gaap:AdditionalPaidInCapitalMember2020-12-310000818479us-gaap:RetainedEarningsMember2020-12-310000818479us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310000818479us-gaap:TreasuryStockCommonMember2020-12-310000818479us-gaap:ParentMember2020-12-310000818479us-gaap:NoncontrollingInterestMember2020-12-3100008184792020-12-310000818479us-gaap:RetainedEarningsMember2021-01-012021-12-310000818479us-gaap:ParentMember2021-01-012021-12-310000818479us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-12-310000818479us-gaap:NoncontrollingInterestMember2021-01-012021-12-310000818479us-gaap:AdditionalPaidInCapitalMember2021-01-012021-12-310000818479us-gaap:TreasuryStockCommonMember2021-01-012021-12-310000818479us-gaap:CommonStockMember2021-12-310000818479us-gaap:AdditionalPaidInCapitalMember2021-12-310000818479us-gaap:RetainedEarningsMember2021-12-310000818479us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310000818479us-gaap:TreasuryStockCommonMember2021-12-310000818479us-gaap:ParentMember2021-12-310000818479us-gaap:NoncontrollingInterestMember2021-12-310000818479us-gaap:RetainedEarningsMember2022-01-012022-12-310000818479us-gaap:ParentMember2022-01-012022-12-310000818479us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310000818479us-gaap:AdditionalPaidInCapitalMember2022-01-012022-12-310000818479us-gaap:TreasuryStockCommonMember2022-01-012022-12-310000818479us-gaap:CommonStockMember2022-12-310000818479us-gaap:AdditionalPaidInCapitalMember2022-12-310000818479us-gaap:RetainedEarningsMember2022-12-310000818479us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000818479us-gaap:TreasuryStockCommonMember2022-12-310000818479us-gaap:ParentMember2022-12-310000818479us-gaap:NoncontrollingInterestMember2022-12-31utr:Yxray:country0000818479country:RU2022-12-310000818479us-gaap:TrademarksMembersrt:MaximumMember2022-01-012022-12-310000818479srt:MaximumMemberus-gaap:LicensingAgreementsMember2022-01-012022-12-310000818479srt:MaximumMemberus-gaap:CustomerRelationshipsMember2022-01-012022-12-310000818479srt:MaximumMemberus-gaap:DevelopedTechnologyRightsMember2022-01-012022-12-310000818479us-gaap:BuildingMember2022-01-012022-12-310000818479srt:MinimumMemberus-gaap:MachineryAndEquipmentMember2022-01-012022-12-310000818479srt:MaximumMemberus-gaap:MachineryAndEquipmentMember2022-01-012022-12-310000818479us-gaap:SoftwareAndSoftwareDevelopmentCostsMembersrt:MinimumMember2022-01-012022-12-310000818479srt:MaximumMemberus-gaap:SoftwareAndSoftwareDevelopmentCostsMember2022-01-012022-12-310000818479srt:MinimumMember2022-01-012022-12-310000818479srt:MaximumMember2022-01-012022-12-310000818479us-gaap:NetInvestmentHedgingMember2022-01-012022-12-310000818479us-gaap:NetInvestmentHedgingMember2022-12-310000818479us-gaap:NetInvestmentHedgingMember2021-01-012021-12-310000818479us-gaap:NetInvestmentHedgingMember2021-12-310000818479us-gaap:NetInvestmentHedgingMember2020-12-310000818479us-gaap:NetInvestmentHedgingMember2020-01-012020-12-310000818479us-gaap:EmployeeStockOptionMember2022-01-012022-12-310000818479us-gaap:RestrictedStockUnitsRSUMember2022-01-012022-12-31xray:segment0000818479xray:EquipmentAndInstrumentsMemberxray:TechnologiesAndEquipmentMember2022-01-012022-12-310000818479xray:EquipmentAndInstrumentsMemberxray:TechnologiesAndEquipmentMember2021-01-012021-12-310000818479xray:EquipmentAndInstrumentsMemberxray:TechnologiesAndEquipmentMember2020-01-012020-12-310000818479xray:TechnologiesAndEquipmentMemberxray:ImplantsMember2022-01-012022-12-310000818479xray:TechnologiesAndEquipmentMemberxray:ImplantsMember2021-01-012021-12-310000818479xray:TechnologiesAndEquipmentMemberxray:ImplantsMember2020-01-012020-12-310000818479xray:CADCAMMemberxray:TechnologiesAndEquipmentMember2022-01-012022-12-310000818479xray:CADCAMMemberxray:TechnologiesAndEquipmentMember2021-01-012021-12-310000818479xray:CADCAMMemberxray:TechnologiesAndEquipmentMember2020-01-012020-12-310000818479xray:OrthodonticsMemberxray:TechnologiesAndEquipmentMember2022-01-012022-12-310000818479xray:OrthodonticsMemberxray:TechnologiesAndEquipmentMember2021-01-012021-12-310000818479xray:OrthodonticsMemberxray:TechnologiesAndEquipmentMember2020-01-012020-12-310000818479us-gaap:HealthCareMemberxray:TechnologiesAndEquipmentMember2022-01-012022-12-310000818479us-gaap:HealthCareMemberxray:TechnologiesAndEquipmentMember2021-01-012021-12-310000818479us-gaap:HealthCareMemberxray:TechnologiesAndEquipmentMember2020-01-012020-12-310000818479xray:TechnologiesAndEquipmentMember2022-01-012022-12-310000818479xray:TechnologiesAndEquipmentMember2021-01-012021-12-310000818479xray:TechnologiesAndEquipmentMember2020-01-012020-12-310000818479xray:EndodonticAndRestorativeMemberxray:ConsumablesSegmentMember2022-01-012022-12-310000818479xray:EndodonticAndRestorativeMemberxray:ConsumablesSegmentMember2021-01-012021-12-310000818479xray:EndodonticAndRestorativeMemberxray:ConsumablesSegmentMember2020-01-012020-12-310000818479xray:OtherConsumablesMemberxray:ConsumablesSegmentMember2022-01-012022-12-310000818479xray:OtherConsumablesMemberxray:ConsumablesSegmentMember2021-01-012021-12-310000818479xray:OtherConsumablesMemberxray:ConsumablesSegmentMember2020-01-012020-12-310000818479xray:ConsumablesSegmentMember2022-01-012022-12-310000818479xray:ConsumablesSegmentMember2021-01-012021-12-310000818479xray:ConsumablesSegmentMember2020-01-012020-12-310000818479country:US2022-01-012022-12-310000818479country:US2021-01-012021-12-310000818479country:US2020-01-012020-12-310000818479srt:EuropeMember2022-01-012022-12-310000818479srt:EuropeMember2021-01-012021-12-310000818479srt:EuropeMember2020-01-012020-12-310000818479xray:RestOfTheWorldMember2022-01-012022-12-310000818479xray:RestOfTheWorldMember2021-01-012021-12-310000818479xray:RestOfTheWorldMember2020-01-012020-12-310000818479xray:EquityIncentivePlan2016Member2017-12-31xbrli:pure0000818479us-gaap:TaxYear2016Membersrt:ManagementMember2022-12-310000818479xray:EquityIncentivePlan2016Member2022-12-310000818479us-gaap:CostOfSalesMember2022-01-012022-12-310000818479us-gaap:CostOfSalesMember2021-01-012021-12-310000818479us-gaap:CostOfSalesMember2020-01-012020-12-310000818479us-gaap:SellingGeneralAndAdministrativeExpensesMember2022-01-012022-12-310000818479us-gaap:SellingGeneralAndAdministrativeExpensesMember2021-01-012021-12-310000818479us-gaap:SellingGeneralAndAdministrativeExpensesMember2020-01-012020-12-310000818479us-gaap:ResearchAndDevelopmentExpenseMember2022-01-012022-12-310000818479us-gaap:ResearchAndDevelopmentExpenseMember2021-01-012021-12-310000818479us-gaap:ResearchAndDevelopmentExpenseMember2020-01-012020-12-310000818479xray:NonqualifiedStockOptionsMember2022-01-012022-12-310000818479xray:NonqualifiedStockOptionsMember2021-01-012021-12-310000818479xray:NonqualifiedStockOptionsMember2020-01-012020-12-310000818479xray:NonqualifiedStockOptionsMember2021-12-310000818479xray:NonqualifiedStockOptionsMember2022-12-310000818479us-gaap:NonqualifiedPlanMember2022-12-310000818479us-gaap:NonqualifiedPlanMember2022-01-012022-12-310000818479xray:Range4Memberxray:NonqualifiedStockOptionsMember2022-01-012022-12-310000818479xray:Range4Memberxray:NonqualifiedStockOptionsMember2022-12-310000818479xray:NonqualifiedStockOptionsMemberxray:Range5Member2022-01-012022-12-310000818479xray:NonqualifiedStockOptionsMemberxray:Range5Member2022-12-310000818479xray:NonqualifiedStockOptionsMemberxray:Range6Member2022-01-012022-12-310000818479xray:NonqualifiedStockOptionsMemberxray:Range6Member2022-12-310000818479xray:Range7Memberxray:NonqualifiedStockOptionsMember2022-01-012022-12-310000818479xray:Range7Memberxray:NonqualifiedStockOptionsMember2022-12-310000818479us-gaap:RestrictedStockUnitsRSUMember2021-12-310000818479us-gaap:RestrictedStockUnitsRSUMember2022-12-310000818479xray:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributabletoNoncontrollingInterestTranslationGainLossMember2022-12-310000818479xray:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributabletoNoncontrollingInterestTranslationGainLossMember2021-12-310000818479xray:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributabletoNoncontrollingInterestNetInvestmentHedgesMember2022-12-310000818479xray:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributabletoNoncontrollingInterestNetInvestmentHedgesMember2021-12-310000818479us-gaap:AccumulatedTranslationAdjustmentMember2021-12-310000818479us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-12-310000818479xray:AccumulatedNetGainLossFromDerivativesNotDesignatedAsCashFlowHedgesAttributableToParentMember2021-12-310000818479us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-12-310000818479us-gaap:AccumulatedTranslationAdjustmentMember2022-01-012022-12-310000818479us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-01-012022-12-310000818479xray:AccumulatedNetGainLossFromDerivativesNotDesignatedAsCashFlowHedgesAttributableToParentMember2022-01-012022-12-310000818479us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-01-012022-12-310000818479us-gaap:AccumulatedTranslationAdjustmentMember2022-12-310000818479us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-12-310000818479xray:AccumulatedNetGainLossFromDerivativesNotDesignatedAsCashFlowHedgesAttributableToParentMember2022-12-310000818479us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-12-310000818479us-gaap:AccumulatedTranslationAdjustmentMember2020-12-310000818479us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-12-310000818479xray:AccumulatedNetGainLossFromDerivativesNotDesignatedAsCashFlowHedgesAttributableToParentMember2020-12-310000818479us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-12-310000818479us-gaap:AccumulatedTranslationAdjustmentMember2021-01-012021-12-310000818479us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-12-310000818479xray:AccumulatedNetGainLossFromDerivativesNotDesignatedAsCashFlowHedgesAttributableToParentMember2021-01-012021-12-310000818479us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-012021-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-01-012022-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-01-012020-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ForeignExchangeContractMember2022-01-012022-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ForeignExchangeContractMember2021-01-012021-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ForeignExchangeContractMember2020-01-012020-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-01-012022-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-01-012020-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2022-01-012022-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2021-01-012021-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2020-01-012020-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetTransitionAssetObligationMember2022-01-012022-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetTransitionAssetObligationMember2021-01-012021-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetTransitionAssetObligationMember2020-01-012020-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2022-01-012022-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2021-01-012021-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember2020-01-012020-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-12-310000818479us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-12-310000818479country:CHxray:DentalBusinessMember2021-07-012021-07-010000818479country:CHxray:DentalBusinessMember2021-07-010000818479country:CHxray:DentalBusinessMember2022-01-012022-12-310000818479xray:DatumDentalLtdMemberus-gaap:InProcessResearchAndDevelopmentMember2021-07-012021-07-010000818479xray:PropelOrthodonticsMember2021-06-012021-06-010000818479xray:PropelOrthodonticsMember2021-06-010000818479xray:PropelOrthodonticsMember2022-01-012022-12-310000818479us-gaap:TechnologyBasedIntangibleAssetsMemberxray:PropelOrthodonticsMember2021-06-012021-06-010000818479xray:DatumDentalLtdMember2021-01-212021-01-210000818479xray:DatumDentalLtdMember2021-01-210000818479xray:DatumDentalLtdMember2022-01-012022-12-310000818479us-gaap:TechnologyBasedIntangibleAssetsMemberxray:DatumDentalLtdMember2021-01-212021-01-210000818479us-gaap:InProcessResearchAndDevelopmentMember2021-01-212021-01-210000818479xray:DatumDentalLtdMember2022-12-310000818479country:GB2021-06-042021-06-040000818479xray:DigitalDentistryBusinessMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2021-04-012021-04-010000818479xray:InvestmentCastingBusinessMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2021-02-012021-02-010000818479xray:InvestmentCastingBusinessMemberus-gaap:DisposalGroupDisposedOfBySaleNotDiscontinuedOperationsMember2022-01-012022-12-310000818479us-gaap:OperatingSegmentsMemberxray:TechnologiesAndEquipmentMember2022-01-012022-12-310000818479us-gaap:OperatingSegmentsMemberxray:TechnologiesAndEquipmentMember2021-01-012021-12-310000818479us-gaap:OperatingSegmentsMemberxray:TechnologiesAndEquipmentMember2020-01-012020-12-310000818479xray:ConsumablesSegmentMemberus-gaap:OperatingSegmentsMember2022-01-012022-12-310000818479xray:ConsumablesSegmentMemberus-gaap:OperatingSegmentsMember2021-01-012021-12-310000818479xray:ConsumablesSegmentMemberus-gaap:OperatingSegmentsMember2020-01-012020-12-310000818479us-gaap:CorporateNonSegmentMember2022-01-012022-12-310000818479us-gaap:CorporateNonSegmentMember2021-01-012021-12-310000818479us-gaap:CorporateNonSegmentMember2020-01-012020-12-310000818479us-gaap:OperatingSegmentsMember2022-01-012022-12-310000818479us-gaap:OperatingSegmentsMember2021-01-012021-12-310000818479us-gaap:OperatingSegmentsMember2020-01-012020-12-310000818479xray:CorporateReconcilingItemsAndEliminationsMember2022-01-012022-12-310000818479xray:CorporateReconcilingItemsAndEliminationsMember2021-01-012021-12-310000818479xray:CorporateReconcilingItemsAndEliminationsMember2020-01-012020-12-310000818479us-gaap:MaterialReconcilingItemsMember2022-01-012022-12-310000818479us-gaap:MaterialReconcilingItemsMember2021-01-012021-12-310000818479us-gaap:MaterialReconcilingItemsMember2020-01-012020-12-310000818479us-gaap:OperatingSegmentsMemberxray:TechnologiesAndEquipmentMember2022-12-310000818479us-gaap:OperatingSegmentsMemberxray:TechnologiesAndEquipmentMember2021-12-310000818479xray:ConsumablesSegmentMemberus-gaap:OperatingSegmentsMember2022-12-310000818479xray:ConsumablesSegmentMemberus-gaap:OperatingSegmentsMember2021-12-310000818479xray:CorporateReconcilingItemsAndEliminationsMember2022-12-310000818479xray:CorporateReconcilingItemsAndEliminationsMember2021-12-310000818479xray:GeographicalBasisDestinationOfShipmentsMembercountry:US2022-01-012022-12-310000818479xray:GeographicalBasisDestinationOfShipmentsMembercountry:US2021-01-012021-12-310000818479xray:GeographicalBasisDestinationOfShipmentsMembercountry:US2020-01-012020-12-310000818479xray:GeographicalBasisDestinationOfShipmentsMembercountry:DE2022-01-012022-12-310000818479xray:GeographicalBasisDestinationOfShipmentsMembercountry:DE2021-01-012021-12-310000818479xray:GeographicalBasisDestinationOfShipmentsMembercountry:DE2020-01-012020-12-310000818479xray:GeographicalBasisDestinationOfShipmentsMemberxray:OtherForeignMember2022-01-012022-12-310000818479xray:GeographicalBasisDestinationOfShipmentsMemberxray:OtherForeignMember2021-01-012021-12-310000818479xray:GeographicalBasisDestinationOfShipmentsMemberxray:OtherForeignMember2020-01-012020-12-310000818479country:US2022-12-310000818479country:US2021-12-310000818479country:DE2022-12-310000818479country:DE2021-12-310000818479country:SE2022-12-310000818479country:SE2021-12-310000818479xray:OtherForeignMember2022-12-310000818479xray:OtherForeignMember2021-12-310000818479us-gaap:CustomerConcentrationRiskMemberus-gaap:RevenueFromContractWithCustomerMemberxray:HenryScheinIncMember2022-01-012022-12-310000818479us-gaap:CustomerConcentrationRiskMemberus-gaap:AccountsReceivableMemberxray:HenryScheinIncMember2022-01-012022-12-310000818479us-gaap:CustomerConcentrationRiskMemberus-gaap:RevenueFromContractWithCustomerMemberxray:HenryScheinIncMember2020-01-012020-12-310000818479us-gaap:CustomerConcentrationRiskMemberus-gaap:AccountsReceivableMemberxray:PattersonCompaniesIncMember2022-01-012022-12-310000818479us-gaap:CustomerConcentrationRiskMemberus-gaap:RevenueFromContractWithCustomerMemberxray:PattersonCompaniesIncMember2020-01-012020-12-310000818479us-gaap:CustomerConcentrationRiskMemberus-gaap:AccountsReceivableMemberxray:PattersonCompaniesIncMember2020-01-012020-12-310000818479us-gaap:LandMember2022-12-310000818479us-gaap:LandMember2021-12-310000818479us-gaap:BuildingAndBuildingImprovementsMember2022-12-310000818479us-gaap:BuildingAndBuildingImprovementsMember2021-12-310000818479us-gaap:MachineryAndEquipmentMember2022-12-310000818479us-gaap:MachineryAndEquipmentMember2021-12-310000818479us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2022-12-310000818479us-gaap:SoftwareAndSoftwareDevelopmentCostsMember2021-12-310000818479us-gaap:ConstructionInProgressMember2022-12-310000818479us-gaap:ConstructionInProgressMember2021-12-3100008184792022-07-012022-09-30xray:reporting_unit0000818479us-gaap:MeasurementInputDiscountRateMember2022-07-012022-09-300000818479xray:DigitalDentalGroupMember2022-07-012022-09-300000818479xray:EquipmentInstrumentsMember2022-07-012022-09-300000818479srt:MinimumMemberus-gaap:MeasurementInputDiscountRateMember2022-07-012022-09-300000818479srt:MaximumMemberus-gaap:MeasurementInputDiscountRateMember2022-07-012022-09-300000818479xray:ConsumablesSegmentMember2022-07-012022-09-300000818479srt:MinimumMemberus-gaap:MeasurementInputDiscountRateMember2022-10-012022-12-310000818479srt:MaximumMemberus-gaap:MeasurementInputDiscountRateMember2022-10-012022-12-310000818479xray:EquipmentInstrumentsMember2022-10-012022-12-310000818479xray:ConsumablesSegmentMember2022-10-012022-12-310000818479xray:DigitalDentalGroupMember2022-12-310000818479xray:EquipmentInstrumentsMember2022-12-310000818479xray:ConsumablesSegmentMember2022-12-310000818479xray:UnimpairedReportingUnitMember2022-01-012022-12-310000818479xray:UnimpairedReportingUnitMember2022-12-310000818479xray:EquipmentInstrumentsMember2020-01-012020-03-310000818479srt:MinimumMemberus-gaap:MeasurementInputDiscountRateMemberxray:EquipmentInstrumentsMember2020-01-012020-03-310000818479srt:MaximumMemberus-gaap:MeasurementInputDiscountRateMemberxray:EquipmentInstrumentsMember2020-01-012020-03-310000818479us-gaap:TrademarksAndTradeNamesMembersrt:MinimumMemberus-gaap:MeasurementInputDiscountRateMemberxray:EquipmentInstrumentsMember2020-01-012020-03-310000818479us-gaap:TrademarksAndTradeNamesMembersrt:MaximumMemberus-gaap:MeasurementInputDiscountRateMemberxray:EquipmentInstrumentsMember2020-01-012020-03-310000818479us-gaap:TrademarksAndTradeNamesMemberxray:EquipmentInstrumentsMember2020-01-012020-03-310000818479xray:TechnologiesAndEquipmentMember2020-12-310000818479xray:ConsumablesSegmentMember2020-12-310000818479xray:TechnologiesAndEquipmentMember2021-12-310000818479xray:ConsumablesSegmentMember2021-12-310000818479xray:TechnologiesAndEquipmentMember2022-12-310000818479xray:ConsumablesSegmentMember2022-12-310000818479us-gaap:PatentsMember2022-12-310000818479us-gaap:PatentsMember2021-12-310000818479us-gaap:TrademarksAndTradeNamesMember2022-12-310000818479us-gaap:TrademarksAndTradeNamesMember2021-12-310000818479us-gaap:LicensingAgreementsMember2022-12-310000818479us-gaap:LicensingAgreementsMember2021-12-310000818479us-gaap:CustomerRelationshipsMember2022-12-310000818479us-gaap:CustomerRelationshipsMember2021-12-310000818479us-gaap:TrademarksAndTradeNamesMember2022-12-310000818479us-gaap:TrademarksAndTradeNamesMember2021-12-310000818479us-gaap:InProcessResearchAndDevelopmentMember2022-12-310000818479us-gaap:InProcessResearchAndDevelopmentMember2021-12-310000818479xray:InServiceAssetsMember2022-09-300000818479xray:InServiceAssetsMember2022-12-310000818479us-gaap:DevelopedTechnologyRightsMember2021-04-012021-06-300000818479us-gaap:DevelopedTechnologyRightsMember2022-12-310000818479us-gaap:CommercialPaperMember2022-12-310000818479us-gaap:CommercialPaperMember2021-12-310000818479xray:OtherShorttermLoansMember2022-12-310000818479xray:OtherShorttermLoansMember2021-12-310000818479us-gaap:LineOfCreditMemberxray:A2018RevolvingCreditFacilityMember2022-12-310000818479us-gaap:LineOfCreditMemberus-gaap:CommercialPaperMember2022-12-310000818479us-gaap:LineOfCreditMemberus-gaap:CommercialPaperMember2022-01-012022-12-310000818479xray:UncommittedShortTermFinancingMember2022-12-310000818479xray:EuroDenominatedNoteDueOctober2024Memberxray:PrivatePlacementNotesMember2022-12-31iso4217:EUR0000818479xray:EuroDenominatedNoteDueOctober2024Memberxray:PrivatePlacementNotesMember2021-12-310000818479xray:PrivatePlacementNotesMemberxray:SwissFrancDenominatedNoteDueDecember2025Member2022-12-31iso4217:CHF0000818479xray:PrivatePlacementNotesMemberxray:SwissFrancDenominatedNoteDueDecember2025Member2021-12-310000818479xray:EuroDenominatedNoteDueDecember2025Memberxray:PrivatePlacementNotesMember2022-12-310000818479xray:EuroDenominatedNoteDueDecember2025Memberxray:PrivatePlacementNotesMember2021-12-310000818479xray:EuroDenominatedNoteDueFebruary2026Memberxray:PrivatePlacementNotesMember2022-12-310000818479xray:EuroDenominatedNoteDueFebruary2026Memberxray:PrivatePlacementNotesMember2021-12-310000818479xray:PrivatePlacementNotesMemberxray:SwissFrancDenominatedNoteDueAugust2026Member2022-12-310000818479xray:PrivatePlacementNotesMemberxray:SwissFrancDenominatedNoteDueAugust2026Member2021-12-310000818479xray:PrivatePlacementNotesMemberxray:EuroDenominatedNoteDueAugust2026Member2022-12-310000818479xray:PrivatePlacementNotesMemberxray:EuroDenominatedNoteDueAugust2026Member2021-12-310000818479xray:PrivatePlacementNotesMemberxray:EuroDenominatedNoteDueOctober2027Member2022-12-310000818479xray:PrivatePlacementNotesMemberxray:EuroDenominatedNoteDueOctober2027Member2021-12-310000818479xray:SwissFrancDenominatedNoteDueDecember2027Memberxray:PrivatePlacementNotesMember2022-12-310000818479xray:SwissFrancDenominatedNoteDueDecember2027Memberxray:PrivatePlacementNotesMember2021-12-310000818479xray:EuroDenominatedNoteDueDecember2027Memberxray:PrivatePlacementNotesMember2022-12-310000818479xray:EuroDenominatedNoteDueDecember2027Memberxray:PrivatePlacementNotesMember2021-12-310000818479xray:SwissFrancDenominatedNoteDueAugust2028Memberxray:PrivatePlacementNotesMember2022-12-310000818479xray:SwissFrancDenominatedNoteDueAugust2028Memberxray:PrivatePlacementNotesMember2021-12-310000818479xray:PrivatePlacementNotesMemberxray:EuroDenominatedNoteDueOctober2029Member2022-12-310000818479xray:PrivatePlacementNotesMemberxray:EuroDenominatedNoteDueOctober2029Member2021-12-310000818479us-gaap:SeniorNotesMemberxray:SeniorNotes750MillionDueJune2030Member2022-12-310000818479us-gaap:SeniorNotesMemberxray:SeniorNotes750MillionDueJune2030Member2021-12-310000818479xray:PrivatePlacementNotesMemberxray:EuroDenominatedNoteDueOctober2030Member2022-12-310000818479xray:PrivatePlacementNotesMemberxray:EuroDenominatedNoteDueOctober2030Member2021-12-310000818479xray:PrivatePlacementNotesMemberxray:EuroDenominatedNoteDueFebruary2031Member2022-12-310000818479xray:PrivatePlacementNotesMemberxray:EuroDenominatedNoteDueFebruary2031Member2021-12-310000818479xray:PrivatePlacementNotesMemberxray:SwissFrancDenominatedNoteDueAugust2031Member2022-12-310000818479xray:PrivatePlacementNotesMemberxray:SwissFrancDenominatedNoteDueAugust2031Member2021-12-310000818479xray:JapaneseYenDenominatedNoteDueSeptember2031Memberxray:PrivatePlacementNotesMember2022-12-31iso4217:JPY0000818479xray:JapaneseYenDenominatedNoteDueSeptember2031Memberxray:PrivatePlacementNotesMember2021-12-310000818479xray:EuroDenominatedNoteDueOctober2031Memberxray:PrivatePlacementNotesMember2022-12-310000818479xray:EuroDenominatedNoteDueOctober2031Memberxray:PrivatePlacementNotesMember2021-12-310000818479xray:OtherBorrowingsVariousCurrenciesAndRatesMember2022-12-310000818479xray:OtherBorrowingsVariousCurrenciesAndRatesMember2021-12-3100008184792021-07-2800008184792022-03-0800008184792022-03-082022-03-0800008184792022-04-192022-04-1900008184792022-03-090000818479us-gaap:TreasuryStockMember2019-12-310000818479us-gaap:CommonStockMember2020-01-012020-12-310000818479us-gaap:TreasuryStockMember2020-01-012020-12-310000818479us-gaap:TreasuryStockMember2020-12-310000818479us-gaap:CommonStockMember2021-01-012021-12-310000818479us-gaap:TreasuryStockMember2021-01-012021-12-310000818479us-gaap:TreasuryStockMember2021-12-310000818479us-gaap:CommonStockMember2022-01-012022-12-310000818479us-gaap:TreasuryStockMember2022-01-012022-12-310000818479us-gaap:TreasuryStockMember2022-12-310000818479us-gaap:OtherNoncurrentAssetsMember2022-12-310000818479us-gaap:OtherNoncurrentAssetsMember2021-12-310000818479xray:DeferredTaxLiabilitiesnetnoncurrentMember2022-12-310000818479xray:DeferredTaxLiabilitiesnetnoncurrentMember2021-12-310000818479xray:ForeignTaxCreditsExpiringFutureYearsMember2022-12-310000818479xray:TaxYear2025Memberxray:ForeignTaxCreditsExpiringFutureYearsMember2022-12-310000818479xray:TaxYear2027Memberxray:ForeignTaxCreditsExpiringFutureYearsMember2022-12-310000818479xray:ForeignTaxCreditsExpiringFutureYearsMemberxray:TaxYears2028Through2031Member2022-12-310000818479xray:WithoutExpiryDateMember2022-12-310000818479us-gaap:LuxembourgInlandRevenueMember2022-12-310000818479us-gaap:LuxembourgInlandRevenueMember2022-01-012022-12-310000818479us-gaap:ForeignCountryMember2022-12-310000818479us-gaap:SettlementWithTaxingAuthorityMember2022-12-310000818479us-gaap:CommonStockMember2022-01-012022-12-310000818479srt:MinimumMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2022-12-310000818479srt:MaximumMemberus-gaap:DefinedBenefitPlanEquitySecuritiesMember2022-12-310000818479srt:MinimumMemberus-gaap:FixedIncomeSecuritiesMember2022-12-310000818479srt:MaximumMemberus-gaap:FixedIncomeSecuritiesMember2022-12-310000818479srt:MinimumMemberus-gaap:DefinedBenefitPlanRealEstateMember2022-12-310000818479srt:MaximumMemberus-gaap:DefinedBenefitPlanRealEstateMember2022-12-310000818479srt:MinimumMemberus-gaap:OtherInvestmentsMember2022-12-310000818479srt:MaximumMemberus-gaap:OtherInvestmentsMember2022-12-310000818479us-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2022-12-310000818479us-gaap:FairValueInputsLevel1Memberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2022-12-310000818479us-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2022-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2022-12-310000818479us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMember2022-12-310000818479us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel1Member2022-12-310000818479us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel2Member2022-12-310000818479us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel3Member2022-12-310000818479xray:FixedRateBondsMember2022-12-310000818479us-gaap:FairValueInputsLevel1Memberxray:FixedRateBondsMember2022-12-310000818479us-gaap:FairValueInputsLevel2Memberxray:FixedRateBondsMember2022-12-310000818479us-gaap:FairValueInputsLevel3Memberxray:FixedRateBondsMember2022-12-310000818479us-gaap:MutualFundMember2022-12-310000818479us-gaap:FairValueInputsLevel1Memberus-gaap:MutualFundMember2022-12-310000818479us-gaap:MutualFundMemberus-gaap:FairValueInputsLevel2Member2022-12-310000818479us-gaap:MutualFundMemberus-gaap:FairValueInputsLevel3Member2022-12-310000818479xray:InsuranceContractsMember2022-12-310000818479us-gaap:FairValueInputsLevel1Memberxray:InsuranceContractsMember2022-12-310000818479xray:InsuranceContractsMemberus-gaap:FairValueInputsLevel2Member2022-12-310000818479xray:InsuranceContractsMemberus-gaap:FairValueInputsLevel3Member2022-12-310000818479us-gaap:HedgeFundsMember2022-12-310000818479us-gaap:FairValueInputsLevel1Memberus-gaap:HedgeFundsMember2022-12-310000818479us-gaap:HedgeFundsMemberus-gaap:FairValueInputsLevel2Member2022-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:HedgeFundsMember2022-12-310000818479us-gaap:DefinedBenefitPlanRealEstateMember2022-12-310000818479us-gaap:FairValueInputsLevel1Memberus-gaap:DefinedBenefitPlanRealEstateMember2022-12-310000818479us-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanRealEstateMember2022-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:DefinedBenefitPlanRealEstateMember2022-12-310000818479us-gaap:FairValueInputsLevel1Member2022-12-310000818479us-gaap:FairValueInputsLevel2Member2022-12-310000818479us-gaap:FairValueInputsLevel3Member2022-12-310000818479us-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2021-12-310000818479us-gaap:FairValueInputsLevel1Memberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2021-12-310000818479us-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2021-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:DefinedBenefitPlanCashAndCashEquivalentsMember2021-12-310000818479us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMember2021-12-310000818479us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel1Member2021-12-310000818479us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel2Member2021-12-310000818479us-gaap:DefinedBenefitPlanEquitySecuritiesNonUsMemberus-gaap:FairValueInputsLevel3Member2021-12-310000818479xray:FixedRateBondsMember2021-12-310000818479us-gaap:FairValueInputsLevel1Memberxray:FixedRateBondsMember2021-12-310000818479us-gaap:FairValueInputsLevel2Memberxray:FixedRateBondsMember2021-12-310000818479us-gaap:FairValueInputsLevel3Memberxray:FixedRateBondsMember2021-12-310000818479us-gaap:MutualFundMember2021-12-310000818479us-gaap:FairValueInputsLevel1Memberus-gaap:MutualFundMember2021-12-310000818479us-gaap:MutualFundMemberus-gaap:FairValueInputsLevel2Member2021-12-310000818479us-gaap:MutualFundMemberus-gaap:FairValueInputsLevel3Member2021-12-310000818479xray:InsuranceContractsMember2021-12-310000818479us-gaap:FairValueInputsLevel1Memberxray:InsuranceContractsMember2021-12-310000818479xray:InsuranceContractsMemberus-gaap:FairValueInputsLevel2Member2021-12-310000818479xray:InsuranceContractsMemberus-gaap:FairValueInputsLevel3Member2021-12-310000818479us-gaap:HedgeFundsMember2021-12-310000818479us-gaap:FairValueInputsLevel1Memberus-gaap:HedgeFundsMember2021-12-310000818479us-gaap:HedgeFundsMemberus-gaap:FairValueInputsLevel2Member2021-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:HedgeFundsMember2021-12-310000818479us-gaap:DefinedBenefitPlanRealEstateMember2021-12-310000818479us-gaap:FairValueInputsLevel1Memberus-gaap:DefinedBenefitPlanRealEstateMember2021-12-310000818479us-gaap:FairValueInputsLevel2Memberus-gaap:DefinedBenefitPlanRealEstateMember2021-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:DefinedBenefitPlanRealEstateMember2021-12-310000818479us-gaap:FairValueInputsLevel12And3Member2021-12-310000818479us-gaap:FairValueInputsLevel1Member2021-12-310000818479us-gaap:FairValueInputsLevel2Member2021-12-310000818479us-gaap:FairValueInputsLevel3Member2021-12-310000818479us-gaap:MutualFundMemberus-gaap:EquityMember2022-12-310000818479us-gaap:MutualFundMemberus-gaap:FixedIncomeInvestmentsMember2022-12-310000818479xray:InsuranceContractsMemberus-gaap:FairValueInputsLevel3Member2022-01-012022-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:HedgeFundsMember2022-01-012022-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:DefinedBenefitPlanRealEstateMember2022-01-012022-12-310000818479us-gaap:FairValueInputsLevel3Member2022-01-012022-12-310000818479xray:InsuranceContractsMemberus-gaap:FairValueInputsLevel3Member2020-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:HedgeFundsMember2020-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:DefinedBenefitPlanRealEstateMember2020-12-310000818479us-gaap:FairValueInputsLevel3Member2020-12-310000818479xray:InsuranceContractsMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:HedgeFundsMember2021-01-012021-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:DefinedBenefitPlanRealEstateMember2021-01-012021-12-310000818479us-gaap:FairValueInputsLevel3Member2021-01-012021-12-310000818479us-gaap:RealEstateMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-12-310000818479xray:InventoryWriteDownMember2020-01-012020-12-310000818479xray:IntangibleAssetImpairmentAndOtherCostsMember2022-01-012022-12-310000818479xray:IntangibleAssetImpairmentAndOtherCostsMember2021-01-012021-12-310000818479xray:IntangibleAssetImpairmentAndOtherCostsMember2020-01-012020-12-310000818479us-gaap:EmployeeSeveranceMemberxray:RestructuringFiscal2020AndPriorPlansMember2021-12-310000818479us-gaap:EmployeeSeveranceMemberxray:RestructuringFiscal2021PlansMember2021-12-310000818479us-gaap:EmployeeSeveranceMemberxray:RestructuringFiscal2022PlansMember2021-12-310000818479us-gaap:EmployeeSeveranceMember2021-12-310000818479us-gaap:EmployeeSeveranceMemberxray:RestructuringFiscal2020AndPriorPlansMember2022-01-012022-12-310000818479us-gaap:EmployeeSeveranceMemberxray:RestructuringFiscal2021PlansMember2022-01-012022-12-310000818479us-gaap:EmployeeSeveranceMemberxray:RestructuringFiscal2022PlansMember2022-01-012022-12-310000818479us-gaap:EmployeeSeveranceMember2022-01-012022-12-310000818479us-gaap:EmployeeSeveranceMemberxray:RestructuringFiscal2020AndPriorPlansMember2022-12-310000818479us-gaap:EmployeeSeveranceMemberxray:RestructuringFiscal2021PlansMember2022-12-310000818479us-gaap:EmployeeSeveranceMemberxray:RestructuringFiscal2022PlansMember2022-12-310000818479us-gaap:EmployeeSeveranceMember2022-12-310000818479us-gaap:OtherRestructuringMemberxray:RestructuringFiscal2020AndPriorPlansMember2021-12-310000818479xray:RestructuringFiscal2021PlansMemberus-gaap:OtherRestructuringMember2021-12-310000818479xray:RestructuringFiscal2022PlansMemberus-gaap:OtherRestructuringMember2021-12-310000818479us-gaap:OtherRestructuringMember2021-12-310000818479us-gaap:OtherRestructuringMemberxray:RestructuringFiscal2020AndPriorPlansMember2022-01-012022-12-310000818479xray:RestructuringFiscal2021PlansMemberus-gaap:OtherRestructuringMember2022-01-012022-12-310000818479xray:RestructuringFiscal2022PlansMemberus-gaap:OtherRestructuringMember2022-01-012022-12-310000818479us-gaap:OtherRestructuringMember2022-01-012022-12-310000818479us-gaap:OtherRestructuringMemberxray:RestructuringFiscal2020AndPriorPlansMember2022-12-310000818479xray:RestructuringFiscal2021PlansMemberus-gaap:OtherRestructuringMember2022-12-310000818479xray:RestructuringFiscal2022PlansMemberus-gaap:OtherRestructuringMember2022-12-310000818479us-gaap:OtherRestructuringMember2022-12-310000818479us-gaap:CorporateNonSegmentMember2021-12-310000818479us-gaap:CorporateNonSegmentMember2022-12-310000818479us-gaap:EmployeeSeveranceMemberxray:RestructuringFiscal2019AndPriorPlansMember2020-12-310000818479us-gaap:EmployeeSeveranceMemberxray:RestructuringFiscal2020PlansMember2020-12-310000818479us-gaap:EmployeeSeveranceMemberxray:RestructuringFiscal2021PlansMember2020-12-310000818479us-gaap:EmployeeSeveranceMember2020-12-310000818479us-gaap:EmployeeSeveranceMemberxray:RestructuringFiscal2019AndPriorPlansMember2021-01-012021-12-310000818479us-gaap:EmployeeSeveranceMemberxray:RestructuringFiscal2020PlansMember2021-01-012021-12-310000818479us-gaap:EmployeeSeveranceMemberxray:RestructuringFiscal2021PlansMember2021-01-012021-12-310000818479us-gaap:EmployeeSeveranceMember2021-01-012021-12-310000818479us-gaap:EmployeeSeveranceMemberxray:RestructuringFiscal2019AndPriorPlansMember2021-12-310000818479us-gaap:EmployeeSeveranceMemberxray:RestructuringFiscal2020PlansMember2021-12-310000818479us-gaap:OtherRestructuringMemberxray:RestructuringFiscal2019AndPriorPlansMember2020-12-310000818479xray:RestructuringFiscal2020PlansMemberus-gaap:OtherRestructuringMember2020-12-310000818479xray:RestructuringFiscal2021PlansMemberus-gaap:OtherRestructuringMember2020-12-310000818479us-gaap:OtherRestructuringMember2020-12-310000818479us-gaap:OtherRestructuringMemberxray:RestructuringFiscal2019AndPriorPlansMember2021-01-012021-12-310000818479xray:RestructuringFiscal2020PlansMemberus-gaap:OtherRestructuringMember2021-01-012021-12-310000818479xray:RestructuringFiscal2021PlansMemberus-gaap:OtherRestructuringMember2021-01-012021-12-310000818479us-gaap:OtherRestructuringMember2021-01-012021-12-310000818479us-gaap:OtherRestructuringMemberxray:RestructuringFiscal2019AndPriorPlansMember2021-12-310000818479xray:RestructuringFiscal2020PlansMemberus-gaap:OtherRestructuringMember2021-12-310000818479us-gaap:OperatingSegmentsMemberxray:TechnologiesAndEquipmentMember2020-12-310000818479xray:ConsumablesSegmentMemberus-gaap:OperatingSegmentsMember2020-12-310000818479us-gaap:CorporateNonSegmentMember2020-12-310000818479us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMember2022-12-310000818479us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-12-310000818479us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMemberus-gaap:NetInvestmentHedgingMember2022-12-310000818479xray:CrossCurrencyBasisSwapsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2022-12-310000818479us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-12-310000818479us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2022-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-12-310000818479us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-12-310000818479us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2022-12-310000818479us-gaap:NondesignatedMember2022-12-310000818479us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMemberus-gaap:CashFlowHedgingMember2022-01-012022-12-310000818479us-gaap:TreasuryLockMemberus-gaap:CashFlowHedgingMember2020-05-262020-05-260000818479us-gaap:TreasuryLockMemberus-gaap:CashFlowHedgingMember2020-05-260000818479us-gaap:SeniorNotesMemberxray:SeniorUnsecuredNotesMaturingJune12030Member2020-05-260000818479xray:CrossCurrencyBasisSwapsMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-01-012022-12-310000818479us-gaap:CrossCurrencyInterestRateContractMember2021-07-020000818479us-gaap:SeniorNotesMemberxray:SeniorUnsecuredNotesMaturingJune12030Member2021-07-010000818479us-gaap:SeniorNotesMemberxray:SeniorUnsecuredNotesMaturingJune12030Member2021-07-020000818479us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2021-05-25xray:contract0000818479us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2022-12-310000818479us-gaap:InterestRateSwapMember2021-07-010000818479xray:InterestRateSwapMaturingJune12026Member2021-07-010000818479xray:InterestRateSwapMaturingJune12026Member2021-07-012021-07-010000818479xray:InterestRateSwapMaturingMarch12030Member2021-07-010000818479xray:InterestRateSwapMaturingMarch12030Member2021-07-012021-07-010000818479us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2022-01-012022-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2022-01-012022-12-310000818479us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-01-012022-12-310000818479xray:CrossCurrencyBasisSwapsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2022-01-012022-12-310000818479us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2022-01-012022-12-310000818479us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-01-012022-12-310000818479us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-01-012022-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-01-012022-12-310000818479us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2022-01-012022-12-310000818479us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2021-01-012021-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2021-01-012021-12-310000818479us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-01-012021-12-310000818479xray:CrossCurrencyBasisSwapsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2021-01-012021-12-310000818479us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2021-01-012021-12-310000818479us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-01-012021-12-310000818479us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-01-012021-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-01-012021-12-310000818479us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-01-012021-12-310000818479us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2020-01-012020-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2020-01-012020-12-310000818479us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-01-012020-12-310000818479xray:CrossCurrencyBasisSwapsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2020-01-012020-12-310000818479us-gaap:ForeignExchangeForwardMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2020-01-012020-12-310000818479us-gaap:NetInvestmentHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-01-012020-12-310000818479us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-01-012020-12-310000818479us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-01-012020-12-310000818479us-gaap:NondesignatedMemberus-gaap:ForeignExchangeForwardMember2022-01-012022-12-310000818479us-gaap:NondesignatedMemberus-gaap:ForeignExchangeForwardMember2021-01-012021-12-310000818479us-gaap:NondesignatedMemberus-gaap:ForeignExchangeForwardMember2020-01-012020-12-310000818479us-gaap:NondesignatedMember2022-01-012022-12-310000818479us-gaap:NondesignatedMember2021-01-012021-12-310000818479us-gaap:NondesignatedMember2020-01-012020-12-310000818479us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberus-gaap:ForeignExchangeForwardMember2022-12-310000818479us-gaap:ForeignExchangeForwardMemberus-gaap:OtherNoncurrentAssetsMember2022-12-310000818479us-gaap:AccruedLiabilitiesMemberus-gaap:ForeignExchangeForwardMember2022-12-310000818479us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:ForeignExchangeForwardMember2022-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2022-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:OtherNoncurrentAssetsMember2022-12-310000818479us-gaap:AccruedLiabilitiesMemberus-gaap:InterestRateSwapMember2022-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:OtherNoncurrentLiabilitiesMember2022-12-310000818479us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberxray:CrossCurrencyBasisSwapsMember2022-12-310000818479xray:CrossCurrencyBasisSwapsMemberus-gaap:OtherNoncurrentAssetsMember2022-12-310000818479us-gaap:AccruedLiabilitiesMemberxray:CrossCurrencyBasisSwapsMember2022-12-310000818479us-gaap:OtherNoncurrentLiabilitiesMemberxray:CrossCurrencyBasisSwapsMember2022-12-310000818479us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2022-12-310000818479us-gaap:AccruedLiabilitiesMember2022-12-310000818479us-gaap:OtherNoncurrentLiabilitiesMember2022-12-310000818479us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberus-gaap:ForeignExchangeForwardMember2021-12-310000818479us-gaap:ForeignExchangeForwardMemberus-gaap:OtherNoncurrentAssetsMember2021-12-310000818479us-gaap:AccruedLiabilitiesMemberus-gaap:ForeignExchangeForwardMember2021-12-310000818479us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:ForeignExchangeForwardMember2021-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2021-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:OtherNoncurrentAssetsMember2021-12-310000818479us-gaap:AccruedLiabilitiesMemberus-gaap:InterestRateSwapMember2021-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:OtherNoncurrentLiabilitiesMember2021-12-310000818479us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberxray:CrossCurrencyBasisSwapsMember2021-12-310000818479xray:CrossCurrencyBasisSwapsMemberus-gaap:OtherNoncurrentAssetsMember2021-12-310000818479us-gaap:AccruedLiabilitiesMemberxray:CrossCurrencyBasisSwapsMember2021-12-310000818479us-gaap:OtherNoncurrentLiabilitiesMemberxray:CrossCurrencyBasisSwapsMember2021-12-310000818479us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2021-12-310000818479us-gaap:AccruedLiabilitiesMember2021-12-310000818479us-gaap:OtherNoncurrentLiabilitiesMember2021-12-310000818479us-gaap:ForeignExchangeContractMember2022-12-310000818479xray:CrossCurrencyBasisSwapsMember2022-12-310000818479us-gaap:InterestRateSwapMember2022-12-310000818479us-gaap:ForeignExchangeContractMember2021-12-310000818479us-gaap:InterestRateSwapMember2021-12-310000818479xray:CrossCurrencyBasisSwapsMember2021-12-310000818479us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000818479us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000818479us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-12-310000818479us-gaap:EstimateOfFairValueFairValueDisclosureMember2021-12-310000818479us-gaap:FairValueMeasurementsRecurringMemberxray:CrossCurrencyBasisSwapsMember2022-12-310000818479us-gaap:FairValueInputsLevel1Memberxray:CrossCurrencyBasisSwapsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000818479us-gaap:FairValueInputsLevel2Memberxray:CrossCurrencyBasisSwapsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000818479us-gaap:FairValueInputsLevel3Memberxray:CrossCurrencyBasisSwapsMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000818479us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000818479us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignExchangeForwardMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000818479us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignExchangeForwardMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000818479us-gaap:FairValueMeasurementsRecurringMember2022-12-310000818479us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000818479us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000818479us-gaap:FairValueMeasurementsRecurringMemberxray:ContingentConsiderationsOnAcquisitionsMember2022-12-310000818479us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberxray:ContingentConsiderationsOnAcquisitionsMember2022-12-310000818479us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberxray:ContingentConsiderationsOnAcquisitionsMember2022-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberxray:ContingentConsiderationsOnAcquisitionsMember2022-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Member2021-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Member2021-12-310000818479us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Member2021-12-310000818479us-gaap:FairValueInputsLevel1Memberxray:CrossCurrencyBasisSwapsMember2021-12-310000818479us-gaap:FairValueInputsLevel2Memberxray:CrossCurrencyBasisSwapsMember2021-12-310000818479us-gaap:FairValueInputsLevel3Memberxray:CrossCurrencyBasisSwapsMember2021-12-310000818479us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000818479us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignExchangeForwardMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000818479us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignExchangeForwardMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000818479us-gaap:FairValueMeasurementsRecurringMember2021-12-310000818479us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000818479us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000818479us-gaap:FairValueMeasurementsRecurringMemberxray:CrossCurrencyBasisSwapsMember2021-12-310000818479us-gaap:FairValueInputsLevel1Memberxray:CrossCurrencyBasisSwapsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000818479us-gaap:FairValueInputsLevel2Memberxray:CrossCurrencyBasisSwapsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000818479us-gaap:FairValueInputsLevel3Memberxray:CrossCurrencyBasisSwapsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310000818479us-gaap:FairValueMeasurementsRecurringMemberxray:ContingentConsiderationsOnAcquisitionsMember2021-12-310000818479us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberxray:ContingentConsiderationsOnAcquisitionsMember2021-12-310000818479us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberxray:ContingentConsiderationsOnAcquisitionsMember2021-12-310000818479us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberxray:ContingentConsiderationsOnAcquisitionsMember2021-12-3100008184792018-06-072018-08-09xray:lawsuit00008184792013-01-012013-12-310000818479us-gaap:InternalRevenueServiceIRSMemberus-gaap:TaxYear2012Member2022-12-310000818479us-gaap:InternalRevenueServiceIRSMemberus-gaap:TaxYear2014Member2022-01-012022-12-310000818479xray:SwedishTaxAgencyMember2018-11-052018-11-050000818479xray:SwedishTaxAgencyMember2022-01-012022-12-310000818479us-gaap:SubsequentEventMember2023-02-142023-02-140000818479srt:MinimumMemberus-gaap:SubsequentEventMember2023-02-142023-02-140000818479srt:MaximumMemberus-gaap:SubsequentEventMember2023-02-142023-02-140000818479us-gaap:SubsequentEventMember2023-02-140000818479us-gaap:SubsequentEventMemberxray:RestructuringExpendituresAndChargesMember2023-02-140000818479xray:NonRecurringRestructuringActivityMemberus-gaap:SubsequentEventMember2023-02-140000818479us-gaap:AllowanceForCreditLossMember2019-12-310000818479us-gaap:AllowanceForCreditLossMember2020-01-012020-12-310000818479us-gaap:AllowanceForCreditLossMember2020-12-310000818479us-gaap:AllowanceForCreditLossMember2021-01-012021-12-310000818479us-gaap:AllowanceForCreditLossMember2021-12-310000818479us-gaap:AllowanceForCreditLossMember2022-01-012022-12-310000818479us-gaap:AllowanceForCreditLossMember2022-12-310000818479us-gaap:InventoryValuationReserveMember2019-12-310000818479us-gaap:InventoryValuationReserveMember2020-01-012020-12-310000818479us-gaap:InventoryValuationReserveMember2020-12-310000818479us-gaap:InventoryValuationReserveMember2021-01-012021-12-310000818479us-gaap:InventoryValuationReserveMember2021-12-310000818479us-gaap:InventoryValuationReserveMember2022-01-012022-12-310000818479us-gaap:InventoryValuationReserveMember2022-12-310000818479us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember2019-12-310000818479us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember2020-01-012020-12-310000818479us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember2020-12-310000818479us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember2021-01-012021-12-310000818479us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember2021-12-310000818479us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember2022-01-012022-12-310000818479us-gaap:ValuationAllowanceOfDeferredTaxAssetsMember2022-12-31

x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2022

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number 0-16211

(Exact name of registrant as specified in its charter)

Delaware			39-1434669
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification No.)
13320 Ballantyne Corporate Place, Charlotte, North Carolina			28277-3607
(Address of principal executive offices)			(Zip Code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol			Name of each exchange on which registered
Common Stock, par value $.01 per share			XRAY			The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer

x

Accelerated Filer o

Non-Accelerated Filer o

Smaller Reporting Company ☐

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

The aggregate market value of the voting common stock held by non-affiliates of the registrant computed by reference to the closing price as of the last business day of the registrant's most recently completed second quarter ended June 30, 2022, was $7,664,602,549. Based on the closing price on June 30, 2022. For purpose of this calculation only, without determining whether the following are affiliates of the registrant, the registrant has assumed that (i) its directors and executive officers are affiliates, and (ii) no party who has filed a Schedule 13D or 13G is an affiliate.

DENTSPLY SIRONA Inc.
Table of Contents
PART I
									Page
Item 1						Business			3
Item 1A						Risk Factors			14
Item 1B						Unresolved Staff Comments			35
Item 2						Properties			35
Item 3						Legal Proceedings			36
Item 4						Mine Safety Disclosures			36
PART II
Item 5						Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities			37
Item 7						Management’s Discussion and Analysis of Financial Condition and Results of Operations			39
Item 7A						Quantitative and Qualitative Disclosures About Market Risk			57
Item 8						Financial Statements and Supplementary Data			59
Item 9						Changes In and Disagreements With Accountants on Accounting and Financial Disclosure			132
Item 9A						Controls and Procedures			132
Item 9B						Other Information			134
Item 9C						Disclosure Regarding Foreign Jurisdiction that Prevent Inspections			134
PART III
Item 10						Directors, Executive Officers and Corporate Governance			135
Item 11						Executive Compensation			135
Item 12						Security Ownership of Certain Beneficial Owners and Management and Related Stock Matters			135
Item 13						Certain Relationships and Related Transactions and Director Independence			135
Item 14						Principal Accountant Fees and Services			135
PART IV
Item 15						Exhibits and Financial Statement Schedule			136
Item 16						Form 10-K Summary			141
Signatures									141

						% of Net Sales
Equipment & Instruments						17.3		%
Implants						14.5		%
CAD/CAM						12.8		%
Orthodontics						7.6		%
Healthcare						6.9		%
Technology & Equipment segment revenue						59.1		%
Endodontic & Restorative						29.8		%
Other consumables						11.1		%
Consumables segment revenue						40.9		%
Total net sales						100.0		%

•Increasing worldwide population, including a shift towards aging demographics, which will require greater dental care.

•Natural teeth are being retained longer - individuals with natural teeth are much more likely to visit a dentist than those without any natural teeth.

•Increasing demand for aesthetic dentistry and the use of aligners as an orthodontic treatment.

•Continued opportunities in emerging markets related to the rise in discretionary incomes making dental services an increasing priority.

•Increasing demand for single visit dentistry versus historical multi-visit procedure requirements, and for higher quality of patient care in terms of comfort and ease of product use and handling.

•Increasing demand for earlier preventive care - dentistry has evolved from a profession primarily dealing with pain, infections, and tooth decay to one with increased emphasis on earlier diagnosis, preventive care, and the role oral health plays in overall health.

•Increasing opportunity for digital collaboration between General Practitioners (“GPs”), specialists, labs, and patients is creating widening demand for fully integrated solutions such as cloud-based platforms and services facilitated by GPs.

•Increasing demand for more efficiency and better workflow in the dental office, including digital tools such as the enhanced power of diagnostic equipment through 3D imaging. The rapid pace of digital technology adoption including the digitization of clinical workflows is becoming a category standard versus traditional manual processes.

The Company is able to navigate macroeconomic challenges and is well positioned to execute on its strategy of enabling dentists to have superior integrated workflows through its robust market offerings in all key areas of dental procedures (implants, endodontic, restorative and aligners) as well as digital infrastructure (CAD/CAM and imaging) utilized in dental practices around the globe.

						2022												2020
						% of net sales						% of accounts receivable						% of net sales						% of accounts receivable
Henry Schein, Inc.						11		%				15		%				14		%				N/A
Patterson Companies, Inc.						N/A						12		%				10		%				18		%

•Approach customers as one: Put the customer at the center of how Dentsply Sirona is organized. The Company has an integrated approach to customer service, direct and indirect selling, and clinical education to strengthen the relationship with the customer and better serve the customers' needs.

•Create innovative solutions that customers love to use: A comprehensive R&D program that prioritizes strategic spending building the next generation of digital workflow technologies and service offerings, resulting in more impactful innovations each year.

•Think and act with positive intent and the highest integrity: Execute the business in a way that empowers our people, respects the communities in which we do business, and establishes trust with our partners and stakeholders.

•Operate sustainably in everything we do: Take a thoughtful, proactive approach to creating a sustainable company through investments in our employees, customers, and the environment.

•Use size and global breadth to our advantage: The Company is focused on integrating its dental product portfolios to unlock operational efficiencies, including performance improvements in procurement, logistics, manufacturing, sales force and marketing programs; and at the same time simplifying the business on a worldwide scale. In combination, these initiatives will improve organizational efficiency and better leverage the Company’s selling, general and administrative infrastructure.

In addition to internal product development, the Company also pursues external R&D opportunities, including acquisitions, licensing, or other arrangements with third parties. Initiatives to support technological development also include collaborations with research institutions and dental and medical schools. The Company annually supports the achievements of dental students conducting innovative research through its Student Competition for Advancing Dental Research and its Application Awards program. The Company is also committed to participation in clinical research demonstrating the efficacy of our products prior to market introduction, and in supporting the clinical education and technical training of dental professionals. Dentsply Sirona has 55 academies and education centers that are home to state-of-the-art training facilities for dental professionals who seek a comprehensive variety of clinical and technical continuing education curriculum. The academies offering hands-on teaching, live lectures, and on-demand webinars and courses which are taught by a diverse range of internationally known experts in all fields of dentistry. The Company provides over 7,000 training courses through our DS Academy annually, with approximately 300,000 dental professionals participating.

•Management identified material weaknesses in our internal control over financial reporting that resulted in errors in previously issued financial statements. If we fail to remediate these material weaknesses or experiences additional material weaknesses in the future, we may be unable to accurately and timely report financial results or comply with the requirements of being a public company, which could cause the price of our common stock to decline and harm our business.

•We restated certain of our previously issued consolidated financial statements, which resulted in unanticipated costs and may affect investor confidence and raise reputational issues.

•We may be subject to litigation and regulatory examinations, investigations, proceedings or court orders as a result of or relating to our internal investigation and if any of these items are resolved adversely against us, it could harm our business, financial condition and results of operations.

•Our failure to timely file our periodic reports with the SEC limits our access to the public markets to raise debt or equity capital, and restricts our ability to issue equity securities.

•Lack of global standardized processes, centralization of transaction management and/or execution could result in control deficiencies and impact management’s assertions and financial reporting.

•We rely heavily on information and technology to operate both our businesses and our technology dependent product solutions portfolios, and any continued cyber incidents with respect to our supporting information and technology infrastructure, whether by deliberate attacks or unintentional events, could harm our operations.

•Privacy concerns and laws, evolving regulation of cross-border data transfer restrictions and other regulations may adversely affect our business.

•We may be unable to develop innovative products and solutions or stimulate customer demand.

•Our ongoing business operations may be disrupted for a significant period of time, resulting in material operating costs and financial losses.

•We may be unable to execute key strategic initiatives due to competing priorities and strategies of our distribution partners and other factors, which may result in financial losses and operational inefficiencies.

•The success of our business depends in part on achieving our strategic objectives, including through acquisitions, dispositions, and strategic investments and initiatives.

•We may fail to realize the expected benefits of our strategic initiatives, including announced or potential future restructuring and transformation efforts.

•We have recognized substantial goodwill and indefinite-lived intangible asset impairment charges, most recently in Q3 and Q4 2022, and may be required to recognize additional goodwill and indefinite-lived intangible asset impairment charges in the future.

•Our failure to obtain patents and, consequently, to protect our proprietary technology could have an adverse impact on our competitive position.

•Our profitability could suffer if third parties infringe upon our intellectual property rights or if our products are found to infringe upon the intellectual property rights of others.

•Changes in our credit ratings or macroeconomic impacts on credit markets may increase our cost of capital and limit financing options.

•A breach of the covenants under our debt instruments outstanding from time to time could result in an event of default under the applicable agreement.

•We may not be able to repay our outstanding debt in the event that we do not generate sufficient cash flow to service our debts and cross default provisions may be triggered due to a breach of covenants under our existing indebtedness.

•Our foreign currency hedging and cash management transactions may be ineffective or only partially mitigate the impact, exposing us to unexpected interest rate volatility.

•Due to the international nature of our business, including increasing exposure to markets outside of the U.S., political or economic changes or other factors could harm our business and financial performance.

•Due to our international operations, we are exposed to the risk of changes in foreign exchange rates.

•Changes in or interpretations of tax rules, operating structures, transfer pricing regulations, country profitability mix and regulations may adversely affect our effective tax rate.

•We may be unable to obtain necessary product approvals and marketing clearances.

•Inadequate levels of reimbursement from governmental or other third-party payers for procedures using our products may cause our revenue to decline.

•Challenges may be asserted against our products due to real or perceived quality, health or environmental issues.

•If we fail to comply with laws and regulations relating to health care fraud, we could suffer penalties or be required to make significant changes to our operations, which could adversely affect our business.

•Our business is subject to extensive, complex and changing domestic and foreign laws, rules, regulations, self-regulatory codes, directives, circulars and orders that failure to comply with which, if not complied with, could subject us to civil or criminal penalties or other liabilities.

•Our quarterly operating results and market price for our common stock may continue to be volatile.

•Certain provisions in our governing documents, and of Delaware law, may make it more difficult for a third party to acquire us.

•Our revenue, results of operations, cash flow, and liquidity may be materially adversely impacted by the ongoing COVID-19 outbreak.

•Our business may be adversely affected by changes in global economic conditions, including inflation, rising interest rates, and supply chain shortages.

•The loss of members of our senior management and the resulting management transition might have an adverse impact on our future operating results.

•Talent gaps and failure to manage and retain top talent may impact our ability to grow the business.

•We face the inherent risk of litigation and claims.

•Climate change and related natural disasters could negatively impact our business and financial results.

•Expectations relating to environmental, social and governance considerations may expose us to potential liabilities, increased costs, reputational harm, and other adverse effects on our business.

•    security breaches, viruses, cyberattacks, ransomware or other malware or other failures or malfunctions;

•    disruption, impairment or failure of data centers or hardware, telecommunications facilities or other infrastructure platforms;

•    failures during the process of upgrading or replacing software, databases or components contained in the information and technology infrastructure;

•    the compromise or unauthorized disclosure of sensitive or proprietary information related to our business and customers;

•    excessive costs, excessive delays or other deficiencies in systems development and deployment; and

•    an unintentional event that involves a third-party gaining unauthorized access to our systems or proprietary information.

•business conditions, including downturns in the dental industry, regional economies, and the overall economy;

•the level of customers’ inventories;

•competitive and pricing pressures, including actions taken by competitors; and

•customer product needs and customer/patient lifecycle.

In preparing the financial statements for the quarter ended September 30, 2022, we identified a triggering event and recorded a $1,187 million non-cash goodwill impairment charge associated with two reporting units within the Technologies & Equipment segment. At December 31, 2022, the remaining goodwill related to the Digital Dental Group and Equipment & Instruments reporting units was $235 million and $193 million, respectively. As the fair value of these reporting units approximate carrying value as of December 31, 2022, any further decline in key assumptions could result in additional impairment in future periods. In addition, we tested the indefinite-lived intangible assets related to these businesses, along with certain indefinite-lived intangibles related to the Consumables segment, and determined that certain tradenames and trademarks were impaired, resulting in the recording of an impairment charge of $94 million for the three months ended September 30, 2022.

During the quarter ended December 31, 2022, we identified a triggering event due to reductions of near-term forecasts for specific tradenames and continued adverse macroeconomic factors, including the impact of foreign exchange rates, resulting in the recording of an impairment charge of $6 million for the three months ended December 31, 2022. As the fair value of these indefinite-lived intangible assets impaired in the third and fourth quarters approximate carrying value as of December 31, 2022, any further decline in key assumptions could result in additional impairment in future periods. At December 31, 2022, we have $455 million in indefinite-lived intangible assets and $2.7 billion of goodwill recorded on our balance sheet.

•the pending patent applications that we have filed, or to which we have exclusive rights, may not result in issued patents or may take longer than we expect to result in issued patents;

•the allowed claims of any patents that are issued may not provide meaningful protection;

•we may be unable to develop additional proprietary technologies that are patentable;

•the patents licensed or issued to us may not provide a competitive advantage;

•other companies may challenge patents licensed or issued to us;

•disputes may arise regarding inventions and corresponding ownership rights in inventions and know-how resulting from the joint creation or use of intellectual property by us and our respective licensors; and

•other companies may design around the technologies patented by us.

•    assert against others or defend us against claims of patent or trademark infringement;

•    enforce patents owned by, or licensed to us from, another party;

•    protect our trade secrets or know-how; or

•    determine the enforceability, scope and validity of our proprietary rights or the proprietary rights of others.

•making it more difficult for us to satisfy our obligations with respect to our indebtedness;

•requiring us to dedicate significant cash flow from operations to the payment of principal and interest on our indebtedness, which would reduce the funds we have available for other purposes, including working capital, capital expenditures, R&D and acquisitions; and

•reducing our flexibility in planning for or reacting to changes in our business and market conditions.

•economic and political instability;

•import or export licensing requirements;

•additional compliance-related risks;

•trade restrictions and tariffs;

•product registration requirements;

•longer payment cycles;

•changes in regulatory requirements and tariffs, including recent restrictions in China on the proportion of certain medical equipment which can be imported;

•potentially adverse tax consequences; and

•trade policy changes

•general economic conditions, as well as those specific to the healthcare industry and related industries;

•changes in income tax laws and incentives that could create adverse tax consequences;

•the execution of restructuring plans;

•the complexity of our organization;

•our ability to supply products to meet customer demand;

•the timing of new product introductions by us and our competitors;

•the timing of industry trade shows;

•changes in customer inventory levels;

•developments in government or third party payor reimbursement policies;

•changes in customer preferences and product mix;

•fluctuations in manufacturing costs;

•competitors’ sales promotions;

•fluctuations in currency exchange rates; and

•the impact of COVID-19.

Location

Function

Leased or Owned

United States:

Milford, Delaware (2)

Manufacture of dental consumable products

Owned

Sarasota, Florida (1)

Manufacture of orthodontic accessory products

Owned

Waltham, Massachusetts (1)

Manufacture and distribution of dental implant products

Leased

Long Island City, New York (1)

Manufacture of dental equipment products

Leased

Lancaster, Pennsylvania (3)

Distribution of dental consumable and dental equipment products

Leased

Johnson City, Tennessee (2)

Manufacture and distribution of endodontic instruments and materials

Leased

Richardson, Texas (1)

Manufacture of orthodontic products

Leased

Gardena, California (1)

Distribution of orthodontic products

Leased

Foreign:

Pirassununga, Brazil (2)

Manufacture and distribution of artificial teeth

Owned

Bensheim, Germany (1)

Manufacture and distribution of dental equipment

Owned

Hanau, Germany (1) (2)

Manufacture and distribution of precious metal dental alloys, dental ceramics and dental implant products

Owned

Konstanz, Germany (2)

Manufacture and distribution of dental consumable products

Owned

Munich, Germany (2)

Manufacture and distribution of endodontic instruments and materials

Owned

Bar Lev Industrial Park, Israel (1)

Manufacture and distribution of dental implant products

Owned/Leased

Badia Polesine, Italy (2)

Manufacture and distribution of dental consumable products

Owned/Leased

Otawara, Japan (1) (2)

Manufacture and distribution of precious metal dental alloys, dental consumable products and orthodontic products

Owned

Venlo, Netherlands (3)

Distribution of dental consumable products

Leased

Mölndal, Sweden (1)

Manufacture and distribution of dental implant products and healthcare consumable products

Owned

Ballaigues, Switzerland (2)

Manufacture and distribution of endodontic instruments, plastic components and packaging material

Owned

Ankara, Turkey (1)

Manufacture and distribution of healthcare consumable products

Owned

Mexicali, Mexico (1)

Manufacture of orthodontic products

Leased

San Jose Province, Costa Rica (1)

Manufacture of orthodontic products

Leased

			12/17						12/18						12/19						12/20						12/21						12/22
DENTSPLY SIRONA Inc.			100.00						57.00						87.29						81.51						87.47						50.63
S&P 500			100.00						95.62						125.72						148.85						191.58						156.89
S&P Health Care			100.00						106.47						128.64						145.93						184.07						180.47

•Business - a general description of Dentsply Sirona’s business and how performance is measured;

•Results of Operations - an analysis of the Company’s consolidated results of operations for the years ended December 31, 2022 and 2021;

•Critical Accounting Policies and Estimates - a discussion of accounting policies that require critical judgments and estimates; and

•Liquidity and Capital Resources - an analysis of cash flows; debt and other obligations; off-balance sheet arrangements; and aggregate contractual obligations.

•Net sales decreased 7.3% compared to the prior year. On an organic basis (a Non-GAAP measure as defined under the heading "Key Performance Measurements" below) net sales decreased 0.5% for the year ended December 31, 2022 compared to prior year. Net sales were negatively impacted by approximately 6.8% due to the strengthening of the U.S. dollar over the prior year period.

•Net loss was $950 million as compared to net income of $411 million for the prior year primarily due to an goodwill impairment charge of $1,187 million. Diluted loss per share was $4.41 per share compared to net income per share of $1.87 in the prior year.

•Cash from operations was $517 million, as compared to $657 million in the prior year.

•As further described in the "Results of Operations" discussion below, the Company continues to experience supply chain challenges resulting from the pandemic including increased lead times, limited availability of certain components, raw material price increases, and higher procurement and shipping costs. As a result of supply chain constraints, the Company has worked during the course of the year to reduce an elevated backlog primarily in connection with orders on hand for imaging equipment which it is unable to fill due to continued shortages of electronic components. The Company is continuing to take steps to mitigate the impact of these trends, including seeking alternative supplier sources for key raw materials.

•Sales continue to be impacted in certain geographic areas by public response to the COVID-19 pandemic. Towards the end of the first quarter of 2022, authorities in China started to periodically re-impose severe restrictions on individual and business activities in response to the resurgence of COVID-19 infections from variants of the virus, resulting in a loss of sales due to distribution constraints and lower demand from reduced patient traffic locally. Primarily as a result of these factors, sales in China declined by $93 million during 2022 relative to 2021. Adverse trends in certain regions could persist if these restrictions are renewed as a result of additional outbreaks. While most government authorities have not re-imposed restrictions with significant impacts, it continues to be unclear when the remaining constraints will be lifted, and to what degree future variants of the virus or renewed restrictions in other markets may impact short-term demand for the Company's products more broadly.

For the year ended December 31, 2022, net sales in Russia and Ukraine were approximately 3% of our consolidated net sales, and net assets in these countries were $83 million. These net assets include $71 million of cash and cash equivalents held within Russia as of December 31, 2022. Due to currency control measures imposed by the Russian government which include restrictions on the ability of companies to repatriate or otherwise remit cash from their Russian-based operations to locations outside of Russia, we may be limited in our ability to transfer this cash balance out of Russia without incurring substantial costs, if at all.

While neither Russia nor Ukraine constitutes a material portion of our business, a significant escalation or expansion of economic disruption or the conflict's current scope could result in a loss of sales, disrupt our supply chain, broaden inflationary costs, and have a material adverse effect on our results of operations. For additional discussion of associated risks, refer to Part I, Item 1A, "Risk Factors" - Risks Related to Our International Operations.

•Driving strategic procurement initiatives to leverage alternative sources of raw materials and transportation;

•Implementing cost-containment measures, as well as intensifying continuous improvement and restructuring programs in our manufacturing and distribution facilities; and

•Optimizing our customer management and implementing strategic investments in our commercial sales organization in key markets, particularly the U.S.

						Year Ended December 31,
(in millions, except percentages)						2022						2021						$ Change						% Change
Net sales						$	3,922					$	4,231					$	(309)					(7.3		%)
Foreign exchange impact																								(6.8		%)
Acquisitions																								0.1		%
Divestitures and discontinued products																								(0.1		%)
Organic sales																								(0.5		%)

The decrease in organic sales was primarily due to overall weaker performance in the U.S., as explained below, including sales of CAD/CAM and Endodontic & Restorative consumables products, and the ongoing impact of global supply chain constraints and reduction in volumes due to product availability, particularly for certain Equipment & Instruments products which rely on electronic components. Sales were also negatively impacted by reduced demand from patient traffic in certain markets as a result of COVID-19 variants and related restrictions, particularly in China. These negative drivers were mostly offset by strong regional performance in the Europe and demand for Orthodontic products, as well as a benefit from price increases.

A reconciliation of net sales to organic sales for the year ended December 31, 2022 was as follows:

						Year Ended December 31,
(in millions, except percentages)						2022						2021						$ Change						% Change
Net sales						$	2,318					2,504						$	(186)					(7.4		%)
Foreign exchange impact																								(7.9		%)
Acquisitions																								0.1		%
Organic sales																								0.4		%

The increase in organic sales was primarily due to higher demand for Orthodontics and Equipment & Instruments, as well as a benefit from price increases. These positive drivers were offset by the impact of ongoing global supply chain constraints and lower volumes due to product availability, particularly for certain Equipment & Instruments products which rely on electronic components, as well as the impact of COVID-19 reducing demand in certain markets, particularly China. Sales of CAD/CAM products in the U.S. were also negatively impacted by high dealer inventory levels at the start of fiscal year 2022, as explained below.

A reconciliation of net sales to organic sales for the year ended December 31, 2022 was as follows:

						Year Ended December 31,
(in millions, except percentages)						2022						2021						$ Change						% Change
Net sales						$	1,604					$	1,727					$	(123)					(7.1		%)
Foreign exchange impact																								(5.2		%)
Divestitures and discontinued products																								(0.2		%)
Organic sales																								(1.7		%)

A reconciliation of net sales to organic sales for the year ended December 31, 2022 was as follows:

						Year Ended December 31,
(in millions, except percentages)						2022						2021						$ Change						% Change
Net sales						$	1,392					$	1,480					$	(88)					(5.9		%)
Foreign exchange impact																								(1.4		%)
Acquisitions																								0.2		%
Divestitures and discontinued products																								(0.1		%)
Organic sales																								(4.6		%)

A reconciliation of net sales to organic sales for the year ended December 31, 2022 was as follows:

						Year Ended December 31,
(in millions, except percentages)						2022						2021						$ Change						% Change
Net sales						$	1,559					$	1,675					$	(116)					(6.9		%)
Foreign exchange impact																								(9.8		%)
Divestitures and discontinued products																								(0.1		%)
Organic sales																								3.0		%

A reconciliation of net sales to organic sales for the year ended December 31, 2022 was as follows:

						Year Ended December 31,
(in millions, except percentages)						2022						2021						$ Change						% Change
Net sales						$	971					$	1,076					$	(105)					(9.8		%)
Foreign exchange impact																								(9.6		%)
Divestitures and discontinued products																								(0.1		%)
Organic sales																								(0.1		%)

Gross Profit

						Year Ended December 31,
(in millions, except percentages)						2022						2021						$ Change						% Change
Gross profit						$	2,127					$	2,347					$	(220)					(9.4		%)
Gross profit as a percentage of net sales						54.2		%				55.5		%				(130) bps

						Year Ended December 31,
(in millions, except percentages)						2022						2021						$ Change						% Change
Selling, general and administrative expenses (“SG&A”)						$	1,589					$	1,551					$	38					2.4		%
Research and development expenses ("R&D")						174						171						3						1.6		%
Goodwill impairment						1,187						—						1,187						NM
Intangible asset impairment and other costs						114						17						97						NM
SG&A as a percentage of net sales						40.5		%				36.6		%				390 bps
R&D as a percentage of net sales						4.4		%				4.1		%				30 bps

SG&A expenses increased primarily due to costs related to the recently concluded internal investigation conducted by the Audit and Finance Committee and related remediation activities, including various legal, accounting and other professional services fees, as well as turnover and other employee-related costs. We also incurred higher headcount and travel expenses during the current year following the recovery from the COVID-19 pandemic. These increases were partly offset by lower expense for sales commissions and a benefit from foreign currency translation.

For the year ended December 31, 2022, the Company recorded a goodwill impairment charge of $1,187 million related to two reporting units within the Technologies & Equipment segment. There were no impairments recorded in the year ended December 31, 2021. As the fair value of these reporting units continues to approximate carrying value as of December 31, 2022, any further decline in key assumptions could result in additional impairments in future periods. For further details see Item 8, Note 12, Goodwill and Intangible Assets, in the Notes to the Audited Consolidated Financial Statements of this Form 10-K.

						Year Ended December 31,
(in millions, except percentages)(a)						2022						2021						$ Change						% Change
Technologies & Equipment						$	399					$	543					$	(144)					(26.5		%)
Consumables						495						539						(44)						(8.2		%)

Percentages are based on actual values and may not recalculate due to rounding.                                                        

Other Income and Expenses

						Year Ended December 31,
(in millions, except percentages)						2022						2021						$ Change						% Change
Interest expense, net						$	60					$	55					$	5					9.6		%
Other expense (income), net						58						8						50						NM
Net interest and other expense						$	118					$	63					$	55

Other expense (income), net for the year ended December 31, 2022 compared to the year ended December 31, 2021 was as follows:

						Year Ended December 31,
(in millions, except percentages)						2022						2021						$ Change
Loss (gain) on sales or disposal of non-core businesses						$	3					$	(7)					$	10
Foreign exchange losses (gains) (a)						11						(6)						17
Loss from equity method investments						36						10						26
Defined benefit pension plan expenses (income)						7						10						(3)
Other non-operating loss						1						1						—
Other expense (income), net						$	58					$	8					$	50

Income Taxes and Net (Loss) Income

						Year Ended December 31,
(in millions, except per share data and percentages)						2022						2021						$ Change
(Benefit) provision for income taxes						$	(105)					$	134					$	(239)
Effective income tax rate						9.9		%				24.6		%
Net (loss) income attributable to Dentsply Sirona						$	(950)					$	411					$	(1,361)
Net (loss) income per common share - diluted (a)						$	(4.41)					$	1.87

						Year Ended December 31,
(in millions)						2022						2021						$ Change
Cash provided by (used in):
Operating activities						$	517					$	657					$	(140)
Investing activities						(138)						(358)						220
Financing activities						(329)						(379)						50
Effect of exchange rate changes on cash and cash equivalents						(24)						(19)						(5)
Net increase (decrease) in cash and cash equivalents						$	26					$	(99)					$	125

The decrease in cash used in investing activities was primarily due to activity in 2021 including lower cash paid for acquisitions of $248 million, partially offset by lower proceeds from the sale of non-strategic businesses or product lines of $28 million, higher capital expenditures of $7 million, and higher cash proceeds from net investment hedges of $11 million. The Company estimates capital expenditures to be in the range of approximately $150 million to $170 million for the full year 2023 and expects these investments to include expansion of facilities to provide incremental space for growth and to consolidate operations for enhanced efficiencies.

						Year Ended December 31,
(in millions, except percentages)						2022						2021
Current portion of debt						$	118					$	182
Long-term debt						1,826						1,913
Less: Cash and cash equivalents						365						339
Net debt						$	1,579					$	1,756
Total equity						3,812						4,997
Total capitalization						$	5,391					$	6,753
Total net debt to total capitalization ratio						29.3		%				26.0		%

The Company expects on an ongoing basis to be able to finance operating cash requirements, capital expenditures, and debt service from the current cash, cash equivalents, cash flows from operations and amounts available under its existing borrowing facilities. The Company's credit facilities are further discussed in Note 15, Financing Arrangements, to the Consolidated Financial Statements in Part II, Item 8 of this Form 10-K.

The cash held by foreign subsidiaries for permanent reinvestment is generally used to finance the subsidiaries' operating activities and future foreign investments. The Company has the ability to repatriate cash to the U.S., which could result in an adjustment to the tax liability for foreign withholding taxes, foreign and/or U.S. state income taxes, and the impact of foreign currency movements. At December 31, 2022, management believed that sufficient liquidity was available in the U.S. and expects this to remain for the next twelve months. The Company has repatriated and expects to continue repatriating certain funds from its non-U.S. subsidiaries that are not needed to finance local operations, however, these particular repatriation activities have not and are not expected to result in a significant incremental tax liability to the Company.

						Within 1 Year						Years 2-3						Years 4-5						Greater Than 5 Years						Total
(in millions)
Long-term borrowings, including finance leases						$	1					$	227					$	303					$	1,340					$	1,871
Operating leases						61						84						41						37						223
Purchase commitments						176						193						43						—						412
Interest on long-term borrowings, net of interest rate swap agreements						47						91						73						81						292
Postemployment obligations						25						47						51						128						251
Precious metal consignment agreements						42						—						—						—						42
						$	352					$	642					$	511					$	1,586					$	3,091

The following consolidated financial statements of the Company are filed as part of this Form 10-K:

			Page
Management’s Report on Internal Control Over Financial Reporting			60
Report of Independent Registered Public Accounting Firm			62
Consolidated Statements of Operations - Years ended December 31, 2022, 2021, and 2020			65
Consolidated Statements of Comprehensive Income - Years ended December 31, 2022, 2021, and 2020			66
Consolidated Balance Sheets - December 31, 2022 and 2021			67
Consolidated Statements of Changes in Equity - Years ended December 31, 2022, 2021, and 2020			68
Consolidated Statements of Cash Flows - Years ended December 31, 2022, 2021, and 2020			69
Note 1 - Significant Accounting Policies			71
Note 2 - Revenue			80
Note 3 - Stock Compensation			82
Note 4 - Earnings Per Common Share			84
Note 5 - Comprehensive (Loss) Income			85
Note 6 - Business Combinations			87
Note 7 - Segment and Geographic Information			89
Note 8 - Other Expense (Income), Net			93
Note 9 - Inventories, Net			94
Note 10 - Property, Plant and Equipment, Net			95
Note 11 - Leases			96
Note 12 - Goodwill and Intangibles Assets			98
Note 13 - Prepaid Expenses and Other Current Assets			102
Note 14 - Accrued Liabilities			103
Note 15 - Financing Arrangements			104
Note 16 - Equity			106
Note 17 - Income Taxes			107
Note 18 - Benefit Plans			110
Note 19 - Intangible Asset Impairment and Other Costs			116
Note 20 - Financial Instruments and Derivatives			118
Note 21 - Fair Value Measurement			125
Note 22 - Commitments and Contingencies			127
Note 23 - Subsequent Event			130

The following financial statement schedule is filed as part of this Form 10-K and is covered by the Report of Independent Registered Public Accounting Firm

			Page
Schedule II - Valuation and Qualifying Accounts for the Years Ended December 31, 2022, 2021, and 2020.			131

Management of the Company assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2022. In making its assessment, management used the criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”).

Management has concluded that the material weaknesses described herein, which were previously identified and reported in the 2021 Form 10-K/A, continue to exist as of December 31, 2022. As a result, management has concluded that the Company’s internal control over financial reporting was not effective as of December 31, 2022 based on the criteria established in Internal Control - Integrated Framework (2013) issued by the COSO.

a.The Company did not design and maintain an effective internal control environment as former management failed to set an appropriate tone at the top. Specifically, certain members of senior management, including the Company’s former Chief Executive Officer and former Chief Financial Officer, engaged in conduct that was inconsistent with the Company’s culture of compliance and Code of Ethics and Business Conduct.

b.The Company did not maintain a sufficient complement of personnel with an appropriate level of knowledge about accounting for variable consideration related to customer incentive arrangements in a manner commensurate with our financial reporting requirements.

c.The Company did not design and maintain effective controls associated with approving, communicating, and accounting for incentive arrangements with customers, impacting the completeness and accuracy of revenues, including variable consideration.

/s/

Simon D. Campion

/s/

Glenn G. Coleman

Simon D. Campion

Glenn G. Coleman

President and Chief Executive Officer

Executive Vice President and

Chief Financial Officer

March 1, 2023

March 1, 2023

We have audited the accompanying consolidated balance sheets of DENTSPLY SIRONA Inc. and its subsidiaries (the “Company”) as of December 31, 2022 and 2021, and the related consolidated statements of operations, of comprehensive income, of changes in equity and of cash flows for each of the three years in the period ended December 31, 2022, including the related notes and financial statement schedule listed in the accompanying index (collectively referred to as the “consolidated financial statements”). We also have audited the Company's internal control over financial reporting as of December 31, 2022, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2022 and 2021, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2022 in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Company did not maintain, in all material respects, effective internal control over financial reporting as of December 31, 2022, based on criteria established in Internal Control - Integrated Framework (2013) issued by the COSO because material weaknesses in internal control over financial reporting existed as of that date related to lack of an effective internal control environment as former management failed to set an appropriate tone at the top, lack of a sufficient complement of personnel with an appropriate level of knowledge about accounting for variable consideration related to customer incentive arrangements in a manner commensurate with the Company’s financial reporting requirements, and lack of effective controls over approving, communicating, and accounting for incentive arrangements with customers, impacting the completeness and accuracy of revenues, including variable consideration.

As described in Notes 1 and 12 to the consolidated financial statements, the Company’s consolidated net goodwill balance was $2,688 million as of December 31, 2022, of which a significant portion relates to certain reporting units. Goodwill is tested for impairment at the reporting unit level annually as of April 1 of each year, or more frequently if events or circumstances indicate that the carrying value of goodwill may be impaired. Management performs impairment tests by comparing the fair value of each reporting unit to its carrying amount to determine if there is a potential impairment. In the third quarter of 2022, management identified indicators of a "more likely than not" impairment related to its Digital Dental Group and Equipment & Instruments reporting units within the Technologies & Equipment segment. The Company has experienced adverse macroeconomic factors as a result of weakened global demand, higher cost of capital, unfavorable foreign currency impacts, and increased raw material, supply chain and service costs, which are contributing to reduced forecasted revenues, lower operating margins, and reduced expectations for future cash flows. As a result of the interim test, management recorded a pre-tax goodwill impairment charge related to the Digital Dental Group and Equipment & Instruments reporting units within the Technologies & Equipment segment of $1,100 million and $87 million, respectively. As disclosed by management, the Company uses a discounted cash flow model as its valuation technique to measure the fair value for its reporting units. The discounted cash flow model uses five- to ten- year forecasted cash flows plus a terminal value based on capitalizing the last period’s cash flows using a perpetual growth rate. As disclosed by management, the significant assumptions in the application of the discounted cash flow model include, but are not limited to, the discount rates, revenue growth rates, perpetual revenue growth rates, operating margin percentages, and net working capital changes of the reporting unit’s business.

/s/			PricewaterhouseCoopers LLP
			PricewaterhouseCoopers LLP
			Charlotte, North Carolina
			March 1, 2023