Segment Information

9 Months Ended

Oct. 01, 2021

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION The Company operates and reports its results in two separate business segments, the Specialty Products & Technologies and Equipment & Consumables segments. When determining the reportable segments, the Company aggregated operating segments based on their similar economic and operating characteristics. Operating profit represents total revenues less operating expenses, excluding nonoperating income (expense) and income taxes. Operating profit amounts in the Other segment consist of unallocated corporate costs and other costs not considered part of management’s evaluation of reportable segment operating performance. The identifiable assets by segment are those used in each segment’s operations. Inter-segment amounts are not significant and are eliminated to arrive at consolidated totals.

The Company’s Specialty Products & Technologies products include implants, prosthetics, orthodontic brackets, aligners and lab products. The Company’s Equipment & Consumables products include traditional consumables such as bonding agents and cements, impression materials, infection prevention products and restorative products, while the Company’s equipment products include digital imaging systems, software and other visualization and magnification systems.

On September 7, 2021, the Company entered into a master sale and purchase agreement to sell its KaVo Treatment Unit and Instrument Business, which is part of the Company’s Equipment & Consumables segment. The previously reported amounts for the KaVo Treatment Unit and Instrument Business have been reclassified to discontinued operations for all periods presented. All segment information and descriptions exclude the KaVo Treatment Unit and Instrument Business. Refer to Note 3 for more information on the Company’s discontinued operations.

Segment related information is shown below ($ in millions):

	Three Months Ended				Nine Months Ended
	October 1, 2021		October 2, 2020		October 1, 2021		October 2, 2020
Sales:
Specialty Products & Technologies	$	363.4	$	316.9	$	1,116.1	$	774.1
Equipment & Consumables	243.9		230.3		741.0		538.7
Total	$	607.3	$	547.2	$	1,857.1	$	1,312.8
Operating profit (loss) and reconciliation to income (loss) before taxes from continuing operations:
Specialty Products & Technologies	$	61.5	$	41.4	$	211.6	$	26.2
Equipment & Consumables	45.4		38.9		131.0		11.0
Other	(25.2)		(18.7)		(82.5)		(67.2)
Operating profit (loss)	81.7		61.6		260.1		(30.0)
Nonoperating income (expense):
Other income	0.2		0.2		0.8		0.4
Interest expense, net	(12.0)		(23.4)		(43.6)		(41.2)
Income (loss) before taxes from continuing operations	$	69.9	$	38.4	$	217.3	$	(70.8)
Identifiable assets:					October 1, 2021		December 31, 2020
Specialty Products & Technologies					$	3,537.3	$	3,773.3
Equipment & Consumables					1,880.6		1,695.3
Held for Sale					468.0		482.9
Other					676.1		924.5
Total					$	6,562.0	$	6,876.0