Segment Information

12 Months Ended

Dec. 31, 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 combined 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 December 31, 2021, the Company completed the sale of 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 4 for more information on the Company’s discontinued operations.

Detailed segment data as of and for the years ended December 31 is as follows ($ in millions):

	2021		2020		2019
Sales:
Specialty Products & Technologies	$	1,507.8	$	1,117.3	$	1,342.7
Equipment & Consumables	1,001.1		811.8		942.1
Total	$	2,508.9	$	1,929.1	$	2,284.8
Operating profit and reconciliation to income (loss) before taxes:
Specialty Products & Technologies	$	272.3	$	65.8	$	218.3
Equipment & Consumables	153.8		53.6		73.4
Other	(119.9)		(75.9)		(56.0)
Operating profit	306.2		43.5		235.7
Nonoperating income (expense):
Other income (expense)	2.4		(1.0)		1.5
Interest expense, net	(54.1)		(62.5)		(3.5)
Income (loss) before taxes	$	254.5	$	(20.0)	$	233.7
Depreciation and amortization:
Specialty Products & Technologies	$	84.0	$	80.6	$	75.4
Equipment & Consumables	31.4		38.7		43.3
Other	2.4		2.4		1.7
Total	$	117.8	$	121.7	$	120.4
Capital expenditures, gross:
Specialty Products & Technologies	$	37.2	$	36.4	$	51.5
Equipment & Consumables	10.6		5.8		16.2
Other	1.3		1.7		6.8
Total	$	49.1	$	43.9	$	74.5
Identifiable assets:	December 31, 2021		December 31, 2020
Specialty Products & Technologies	$	3,498.2	$	3,773.3
Equipment & Consumables	1,946.1		1,695.3
Held for sale	12.2		482.9
Other	1,117.7		924.5
Total	$	6,574.2	$	6,876.0

Operations in Geographical Areas: 

	Year Ended December 31,
($ in millions)	2021		2020		2019
Sales:
United States	$	1,223.4	$	960.1	$	1,098.8
China	236.7		198.2		189.0
All other (each country individually less than 5% of total sales)	1,048.8		770.8		997.0
Total	$	2,508.9	$	1,929.1	$	2,284.8
Property, plant and equipment, net:	December 31, 2021		December 31, 2020
United States	$	157.1	$	161.1
Sweden	49.0		47.2
All other (each country individually less than 5% of total long-lived assets)	58.0		66.3
Total	$	264.1	$	274.6